Search results for: financial ratios

Authors: Jamal A. Radaideh, Ziad N. Shatnawi

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Both indoor and outdoor air quality is investigated throughout residential areas of Al Hofuf city/ Eastern province of Saudi Arabia through a multi‐week multiple sites measurement and sampling survey. Concentration levels of five criteria air pollutants, including carbon dioxide (CO2), carbon monoxide (CO), nitrous dioxide (NO2), sulfur dioxide (SO2) and total volatile organic compounds (TVOC) were measured and analyzed during the study period from January to May 2014. For this survey paper, three different sites, roadside RS, urban UR, and rural RU were selected. Within each site type, six locations were assigned to carryout air quality measurements and to study varying indoor/outdoor air quality for each pollutant. Results indicate that a strong correlation between indoor and outdoor air exists. The I/O ratios for the considered criteria pollutants show that the strongest relationship between indoor and outdoor air is found by analyzing of carbon dioxide, CO2 (0.88), while the lowest is found by both NO2 and SO2 (0.7).

Keywords: criteria air pollutants, indoor/outdoor air pollution, indoor/outdoor ratio, Saudi Arabia

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Authors: Hila Levi

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Respect for human rights is a fundamental element of the European Union's (EU) identity and law. Surprisingly, however, the protection of human rights has been significantly restricted in the austerity programs ordered by the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission (EC) (often labeled 'the Troika') in return for financial aid to the crisis-hit countries. This paper focuses on the role of the ECB in the crisis management. While other international financial institutions, such as the IMF or the World Bank, may opt to neglect human rights obligations, one might expect a greater respect of human rights from the ECB, which is bound by the EU Charter of Fundamental Rights. However, this paper argues that ECB officials made no significant effort to protect human rights or strike an adequate balance between competing financial and human rights needs while coping with the crisis. ECB officials were preoccupied with the need to stabilize the economy and prevent a collapse of the Eurozone, and paid only marginal attention to human rights concerns in the design and implementation of Troikas' programs. This paper explores the role of Organizational Culture (OC) in explaining this marginalization. While International Relations (IR) research on Intergovernmental Organizations (IGOs) behavior has traditionally focused on external interests of powerful member states, and on national and economic considerations, this study focuses on particular institutions' internal factors and independent processes. OC characteristics have been identified in OC literature as an important determinant of organizational behavior. This paper suggests that cultural characteristics are also vital for the examination of IGOs, and particularly for understanding the ECB's behavior during the crisis. In order to assess the OC of the ECB and the impact it had on its policies and decisions during the Eurozone crisis, the paper uses the results of numerous qualitative interviews conducted with high-ranking officials and staff members of the ECB involved in the crisis management. It further reviews primary sources of the ECB (such as ECB statutes, and the Memoranda of Understanding signed between the crisis countries and the Troika), and secondary sources (such as the report of the UN High Commissioner for Human Rights on Austerity measures and economic, social, and cultural rights). It thus analyzes the interaction between the ECBs culture and the almost complete absence of human rights considerations in the Eurozone crisis resolution scheme. This paper highlights the importance and influence of internal ideational factors on IGOs behavior. From a more practical perspective, this paper may contribute to understanding one of the obstacles in the process of human rights implementation in international organizations, and provide instruments for better protection of social and economic rights.

Keywords: European central bank, eurozone crisis, intergovernmental organizations, organizational culture

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Authors: Debraj Gangopadhyay, Moumita Das, Ranjan K. Singh, Poonam Tandon

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Creatinine is a toxic chemical waste generated from muscle metabolism. Abnormally high levels of creatinine in the body fluid indicate possible malfunction or failure of the kidneys. This leads to a condition termed as creatinine induced nephrotoxicity. N-acetylcysteine is an antioxidant drug which is capable of preventing creatinine induced nephrotoxicity and is helpful to treat renal failure in its early stages. Taurine is another antioxidant drug which serves similar purpose. The kidneys have a natural power that whenever reactive oxygen species radicals increase in the human body, the kidneys make an antioxidant shell so that these radicals cannot harm the kidney function. Taurine plays a vital role in increasing the power of that shell such that the glomerular filtration rate can remain in its normal level. Thus taurine protects the kidneys against several diseases. However, taurine also has some negative effects on the body as its chloramine derivative is a weak oxidant by nature. N-acetylcysteine is capable of inhibiting the residual oxidative property of taurine chloramine. Therefore, N-acetylcysteine is given to a patient along with taurine and this combination is capable of suppressing the negative effect of taurine. Both N-acetylcysteine and taurine being affordable, safe, and widely available medicines, knowledge of the mechanism of their combined effect on creatinine, the favored route of administration, and the proper dose may be highly useful in their use for treating renal patients. Raman spectroscopy is a precise technique to observe minor structural changes taking place when two or more molecules interact. The possibility of formation of a complex between a drug molecule and an analyte molecule in solution can be explored by analyzing the changes in the Raman spectra. The formation of a stable complex of creatinine with N-acetylcysteinein vitroin aqueous solution has been observed with the help of Raman spectroscopic technique. From the Raman spectra of the mixtures of aqueous solutions of creatinine and N-acetylcysteinein different molar ratios, it is observed that the most stable complex is formed at 1:1 ratio of creatinine andN-acetylcysteine. Upon drying, the complex obtained is gel-like in appearance and reddish yellow in color. The complex is hygroscopic and has much better water solubility compared to creatinine. This highlights that N-acetylcysteineplays an effective role in reducing the toxic effect of creatinine by forming this water soluble complex which can be removed through urine. Since the drug taurine is also known to be useful in reducing nephrotoxicity caused by creatinine, the aqueous solution of taurine with those of creatinine and N-acetylcysteinewere mixed in different molar ratios and were investigated by Raman spectroscopic technique. It is understood that taurine itself does not undergo complexation with creatinine as no additional changes are observed in the Raman spectra of creatinine when it is mixed with taurine. However, when creatinine, N-acetylcysteine and taurine are mixed in aqueous solution in molar ratio 1:1:3, several changes occurring in the Raman spectra of creatinine suggest the diminishing toxic effect of creatinine in the presence ofantioxidant drugs N-acetylcysteine and taurine.

Keywords: creatinine, creatinine induced nephrotoxicity, N-acetylcysteine, taurine

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Authors: M. S. E. Hamroun, K. Bachari, A. Berrayah, L. Mechernene, L. Guerbous

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Composite films containing homogeneously dispersed scintillation nano-particles of Lu₂SiO₅:Ce³⁺, in optically transparent polymer matrix, have been prepared and characterized through X-ray diffraction, differential scanning calorimetric (DSC), thermogravimetric analysis (ATG), dynamic mechanical analysis (DMA), electron scanning microscopy morphology (SEM) and photoluminescence (PL). Lu₂SiO₅:Ce³⁺ scintillator powder was successfully synthesized via Sol-Gel method. This study is realized with different mass ratios of nano-particles embedded in polystyrene and polylactic acid polymer matrix (5, 10, 15, 20%) to see the influence of nano-particles on the mechanical, structural and optical properties of films. The composites have been prepared with 400 µm thickness. It has found that the structural proprieties change with mass ratio on each sample. PL photoluminescence shows the characteristic Lu₂SiO₅:Ce³⁺ emission in the blue region and intensity varied for each film.

Keywords: nano-particles, sol gel, photoluminescence, Ce³⁺, scintillator, polystyrene

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Authors: Pascal Rey, Anaïs Weber

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Many mining projects are being developed in Africa the last decades. Due to the economic opportunities they offer, these projects result in a massive and rapid influx of migrants to the surrounding area. In areas where central government representation is low and local administration lack financial resources, urban development is often anarchical, beyond all public control. It leads to socio-spatial segregation, insecurity and the risk of social conflicts rising. Aware that their economic development is very correlated with local situation, mining companies get more and more involved in regional planning in setting up tools and Strategic Directions document. One of the commonly used tools in this regard is the “Influx Management Plan”. It consists in looking at the region’s absorption capacities in order to ensure its coherent development and by developing several urban centers than one macrocephalic city. It includes many other measures such as urban governance support, skills transfer, creation of strategic guidelines, financial support (local taxes, mining taxes, development funds etc.) local development projects. Through various examples of mining projects in Guinea, A country that is host to many large mining projects, we will look at the implications of regional and urban planning of which mining companies are key playor as well as public authorities. While their investment capacity offers advantages and accelerates development, their actions raise questions of the unilaterality of interests and local governance. By interfering in public affairs are mining companies not increasing the risk of central and local government shirking their responsibilities in terms of regional development, or even calling their legitimacy into question? Is such public-private collaboration really sustainable for the region as a whole and for all stakeholders?

Keywords: Africa, guinea, mine, urban planning

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Authors: Kerem Can Dizdar, Semih Ateş, Ozan Güler, Gökhan Basman, Derya Dışpınar, Cevat Fahir Arısoy

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Grain refinement and obtaining homogeneous microstructure is the key parameter in casting of aluminum alloys. Ti has been traditionally used as grain refiner, however, inconsistency and heterogeneous dendrite arms, as well as fading efficiency, have been the drawbacks of Ti. Alternatively, Nb (Niobium) has gained attention. In this work, the effect of Nb was investigated in case of both as cast and T6 heat treated conditions. Different ratios of Nb (0.0, 0.03, 0.05, 0.07, 0.1 weight%) were added to AlSi11 alloy, mechanical properties were examined statistically, and relationship was established between microstructure and mechanical properties by examining the grain size and dendrite characteristics before and after heat treatment. Results indicate that in the case of as cast state; with the increasing addition of Nb has no significant effect on yield strength, however, it increases the tensile strength and elongation starting with 0.05wt% ratio, and it remains constant up to 0.1wt%. For the heat-treated condition; Nb addition provides increment at yield strength and tensile strength up to 0.05wt%, but it leads to decrementfrom 0.05 to 0.1wt%. The opposite is valid for the elongation; It decreases in between 0-0.05wt% then rises in range of 0.05-0.1wt%. Highest yield strength and ultimate tensile strength were found T6 heat treated 0.05wt% Nb addition. 0.05wt% was found as critical Nbaddition ratio for mechanical properties of Al-11Si alloys. Grain refinement and obtaining homogeneous microstructure is the key parameter in casting of aluminum alloys. Ti has been traditionally used as grain refiner, however, inconsistency and heterogeneous dendrite arms, as well as fading efficiency, have been the drawbacks of Ti. Alternatively, Nb (Niobium) has gained attention. In this work, the effect of Nb was investigated in case of both as cast and T6 heat treated conditions. Different ratios of Nb (0.0, 0.03, 0.05, 0.07, 0.1 weight%) were added to AlSi11 alloy, mechanical properties were examined statistically, and relationship was established between microstructure and mechanical properties by examining the grain size and dendrite characteristics before and after heat treatment. Results indicate that in the case of as cast state; with the increasing addition of Nb has no significant effect on yield strength, however, it increases the tensile strength and elongation starting with 0.05wt% ratio, and it remains constant up to 0.1wt%. For the heat-treated condition; Nb addition provides increment at yield strength and tensile strength up to 0.05wt%, but it leads to decrement from 0.05 to 0.1wt%. The opposite is valid for the elongation; It decreases in between 0-0.05wt% then rises in range of 0.05-0.1wt%. Highest yield strength and ultimate tensile strength were found T6 heat treated 0.05wt% Nb addition. 0.05wt% was found as critical Nbaddition ratio for mechanical properties of Al-11Si alloys.

Keywords: al-si alloy, grain refinement, heat treatment, mechanical properties, microstructure, niobium, sand casting

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Authors: Sid Ahmed Ziane

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This paper argues for Johnson's financial responsiveness to the rise of Black Power and its advocate, 'Stokely Carmichael' in 1966. John H. Johnson was a Black businessman and the owner of Ebony magazine, one of the widely read Black magazines in the U.S. His magazine, however, was designed only to promoting Black fashion, aesthetic, marketing, and consumerism. In mid-1966, the mainstream of the Civil Rights movement was heading into two distinct camps when some of its advocates, led by Stokely Carmichael, began to question the slow pace of the Civil Rights and sought to pursue a more radical approach to bring about upheaval to the Black community. Their new approach, however, propelled the national media into paying close attention to their activities, their new methods, and their radical orientations. In fact, the major White-oriented media discredited Carmichael and distorted his public image via sensational stories and race-mongering reports. However, the Black owned outlets such as The Liberator advocated his agendas, whereas other magazines such as The Crisis rejected them. Based on such oral sources and Ebony’s online issues, this paper adds and argues that Johnson had also responded to the rise of Black Power and Carmichael. This reaction had, in fact, aimed at scooping and selling Carmichael and his new orientation as well as advertising him in his magazine to attract the readers who showed a strong tendency to hear and read about the heyday and even the ferment of Black Power. This paper is part of an ongoing project which aims at framing our understanding of how the Black print media and the modern Black liberation struggle were correlated and could shape each other by appraising their agendas, milestones, and their pivotal figures.

Keywords: Black power, Ebony magazine, John Johson, Stokely Carmichael

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Authors: Michael Wright, Tiago Costa

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The construction industry in SE Asia has been relying on S355 MPa “as rolled” H-beams for many years now. It is an easily sourced, metallurgically simple, reliable product that all designers, fabricators and constructors are familiar with. However, as the Global demand to better use our finite resources gets stronger, the need for an as-rolled S460 MPa H-Beam is becoming more apparent. The Financial benefits of an “as-rolled” S460 MPa H-beam are obvious. The S460 MPa beam which is currently available and used is fabricated from rolled strip. However, making H-beam from 3 x 460 MPa strips requires costly equipment, valuable welding skills & production time, all of which can be in short supply or better used for other purposes. The Metallurgical benefits of an “as-rolled” S460 MPa H-beam are consistency in the product. Fabricated H-beams have inhomogeneous areas where the strips have been welded together - parent metal, heat affected zone and weld metal all in the one body. They also rely heavily on the skill of the welder to guarantee a perfect, defect free weld. If this does not occur, the beam is intrinsically flawed and could lead to failure in service. An as-rolled beam is a relatively homogenous product, with the optimum strength and ductility produced by delivering steel with as fine as possible uniform cross sectional grain size. This is done by cost effective alloy design coupled with proper metallurgical process control implemented into an existing mill’s equipment capability and layout. This paper is designed to highlight the benefits of bring an “as-rolled” S460 MPa H-beam to the construction market place in SE Asia, and hopefully encourage the current “as-rolled” H-beam producers to rise to the challenge and produce an innovative high quality product for the local market.

Keywords: fine grained, As-rolled, long products, process control, metallurgy

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Authors: You-Lin Wu, Zong-Xian Wu, Jing-Jenn Lin, Shih-Hung Lin

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In this work, a polysilicon wire (PSW) coated with a mixture of 3-aminopropyltriethoxysilane (r-APTES) and Al2O3 nanoparticles as the sensing membrane prepared with various Al2O3/r-APTES and dispersing agent/r-APTES ratios for pH sensing is studied. The r-APTES and dispersed Al2O3 nanoparticles mixture was directly transferred to PSW surface by solution phase deposition (SPD). It is found that using a mixture of Al2O3 nanoparticles and r-APTES as the sensing membrane help in improving the pH sensing of the PSW sensor and a 5 min SPD deposition time is the best. Dispersing agent is found to be necessary for better pH sensing when preparing the mixture of Al2O3 nanoparticles and r-APTES. The optimum condition for preparing the mixture is found to be Al2O3/r-APTES ratio of 2% and dispersing agent/r-APTES ratio of 0.3%.

Keywords: al2o3 nanoparticles, ph sensing, polysilicon wire sensor, r-aptes

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Authors: Tamar Lazariashvili

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Introduction: The agro-insurance has great importance for agricultural development in the country. In the article, the insurance market of the Georgian agricultural sector has been studied, the level of interest of farmers with insurance products and the trend of demand for those products are revealed; also, the importance of insurance is substantiated. Methodology: The following research methods are applied in the presented paper: statistical (selection, grouping, observation, trend) and qualitative research (in-depth interview with farmers). They claim that the main reason for aggravation is the low level of trust, less awareness about the conditions of the insurance contract. In order to eradicate distrust towards agro-insurance, it is recommended to increase awareness of insured farmers in terms of an insurance agreement. In the case of disputable issues between insurance companies and the customers (farmers), it is advisable to enact the Mediation Service, which will be able to protect the rights of insured farmers. Main Findings: Insurance companies prefer to deal with large farmers, the number of them is very small in Georgia as the credit market. The government interference in this sector is also a very cautious topic. However, the government can strengthen the awareness of farmers about the characteristics and advantages of the insurance system in order to increase the number of insured and reduce insurance premiums for farmers. Conclusion: Enactment of agro-insurance will increase the interest and confidence of financial institutions in the farming sector, financial resources will be accessible to the farmers that will facilitate the stable development of the sector in the country. The size of the agro-insurance market in the country should be increased, and the new territories should be covered. The State must have an obligation to ensure the risk of farmers and subsidize insurance companies. Based on the analysis of the insurance market, the conclusions on agro-insurance issues and the relevant recommendations are proposed.

Keywords: Agro-insurance, agricultural product, Agro-market, farming

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Authors: Andrea ČopíKová

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Competency Based Management is a new approach to management, which solves organization’s challenges with complexity and with the aim to find and solve organization’s problems and learn how to avoid these in future. They teach the organizations to create, apart from the state of stability – that is temporary, vital organization, which is permanently able to utilize and profit from internal and external opportunities. The aim of this paper is to propose a process of competency model design, based on which a competency model for a financial department manager in a production company will be created. Competency models are very useful tool in many personnel processes in any organization. They are used for acquiring and selection of employees, designing training and development activities, employees’ evaluation, and they can be used as a guide for a career planning and as a tool for succession planning especially for managerial positions. When creating a competency model the method AHP (Analytic Hierarchy Process) and quantitative pair-wise comparison (Saaty’s method) will be used; these methods belong among the most used methods for the determination of weights, and it is used in the AHP procedure. The introduction part of the paper consists of the research results pertaining to the use of competency model in practice and then the issue of competency and competency models is explained. The application part describes in detail proposed methodology for the creation of competency models, based on which the competency model for the position of financial department manager in a foreign manufacturing company, will be created. In the conclusion of the paper, the final competency model will be shown for above mentioned position. The competency model divides selected competencies into three groups that are managerial, interpersonal and functional. The model describes in detail individual levels of competencies, their target value (required level) and the level of importance.

Keywords: analytic hierarchy process, competency, competency model, quantitative pairwise comparison

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Authors: Ussawit Srisakrapikoop, Art-Ong Pradatsundarasar, Duangkhae Sitthicharoenchai

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Monomorium destructor or Singapore ant is one of the common household pests. It causes nuisance and damage to household. Due to the fact that there are many queens in one colony (polygyny), so this ant can quickly increase its population in a short time in the urban environment. This study has been conducted at Faculty of Science, Chulalongkorn University in the field condition. Ant food preference was conducted for 3 replicates per month by using six food choices including 20% sucrose solution, 20% sucrose agar, pork liver, smashed pork liver, pork fat and lard. The number of ants of each bait choice was counted and the orders of ant accessing baits were also recorded. The results showed that the 20% sucrose agar was the most attractive significantly following by pork liver and pork fat. The ants also most accessed to the pork liver bait choice in the first place. It can be suggested that the ant control by baiting should consist of mixture of carbohydrate, protein and lipid in solid form with suitable ratios.

Keywords: baits, food preference, monomorium destructor, Singapore ant

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Authors: Lie-Fen Lin, Tzu-Hsuan Lin, Ching-Heng Lin

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Hospice care for terminally ill patients provides not only a better quality of life but also cost-saving benefits. However, the utilization of home-based hospice care (HBH care) remains low even for countries covered by National Health Insurance (NHI) programs in Taiwan. In the current commercial insurance policy, only hospital-based hospice benefits were covered. It may have an influence on the insureds chosen to receive end-of-life care in a hospitalized manner. Thus, how to propose a feasible method to advocate HBH care utilization rate of public health policies is an important issue. A total of 130,219 cancer decedents in the year 2011-2013 from the National Health Insurance Research Database (NHIRD) in Taiwan were included in this study. By adding a day volume pays benefits of HBH care as a commercial insurance rider, will provide alternative benefits for the insureds. A multiple-state Markov chain model was incorporated to estimate the transition intensities of patients in different states at the end of their lives (Non-hospice, HBH, hospital-based hospice), and the premiums were estimated. HBH care insurance benefits provide financial support and reduce the burden of care for patients. The rate-making of this product is very sensitive while the utilization rate is rising, especially for high ages. The proposed HBH care insurance is a feasible way to reduce the financial burden, enhance the care quality and family satisfaction of insureds. Meanwhile, insurance companies can participate in advocating a good medical policy to enhance the social image. In addition, the medical costs of NHI can reduce effectively.

Keywords: home-based hospice care, commercial insurance, Markov chain model, the day volume pays

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Authors: Robert Vanderburg, Nicholas Gibson

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Objectives: There has been an increased focus in education students’ mathematics skills in the last two years. Universities have, specifically, had problems teaching students struggling with mathematics. This paper focuses on the ability of a digital platform to significantly improve mathematics skills for struggling students. Methods: 32 students who demonstrated low scores on a mathematics test were selected to take part in a one-month tutorial program using a digital mathematics portal. Students were provided feedback for questions posted on the portal and a fortnightly tutorial session. Results: A pre-test post-test design was analyzed using a one-way analysis of variance (ANOVA). The analysis suggested that students improved skills in algebra, geometry, statistics, probability, ratios, fractions, and probability. Conclusion: Distance university students can improve their mathematics skills using a digital platform.

Keywords: digital education, distance education, higher education, mathematics education

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Authors: Tom Turner

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The recent financial crisis in 2008 and the growing inequality in developed industrial societies would appear to present significant challenges to capitalism and the free market. Yet there have been few substantial mainstream political or economic challenges to the dominant capitalist and market paradigm to-date. There is no dearth of critical and theoretical (academic) analyses regarding the prevailing systems failures. Yet despite the growing inequality in the developed industrial societies and the financial crisis in 2008 few commentators have advocated the comprehensive socialization or state ownership of the means of production to our knowledge – a core principle of radical Marxism in the 19th and early part of the 20th century. Undoubtedly the experience in the Soviet Union and satellite countries in the 20th century has cast a dark shadow over the notion of centrally controlled economies and state ownership of the means of production. In this paper, we explore the history of a doctrine advocating the socialization or state ownership of the means of production that was central to Marxism and socialism generally. Indeed this doctrine provoked an intense and often acrimonious debate especially for left-wing parties throughout the 20th century. The debate within the political economy tradition has historically tended to divide into a radical and a revisionist approach to changing or reforming capitalism. The radical perspective views the conflict of interest between capital and labor as a persistent and insoluble feature of a capitalist society and advocates the public or state ownership of the means of production. Alternatively, the revisionist perspective focuses on issues of distribution rather than production and emphasizes the possibility of compromise between capital and labor in capitalist societies. Over the 20th century, the radical perspective has faded and even the social democratic revisionist tradition has declined in recent years. We conclude with the major challenges that confront both the radical and revisionist perspectives in the development of viable policy agendas in mature developed democratic societies. Additionally, we consider whether state ownership of the means of production still has relevance in the 21st century and to what extent state ownership is off the agenda as a political issue in the political mainstream in developed industrial societies. A central argument in the paper is that state ownership of the means of production is unlikely to feature as either a practical or theoretical solution to the problems of capitalism post the financial crisis among mainstream political parties of the left. Although the focus here is solely on the shifting views of the radical and revisionist socialist perspectives in the western European tradition the analysis has relevance for the wider socialist movement.

Keywords: sate ownership, ownership means of production, radicals, revisionists

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Authors: Tesfaye Worku

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Human hair, chicken feathers, and hairs of other birds and animals are commonly described as waste products, and the currently available disposal methods, such as burying and burning these waste products, are contributing to environmental pollution. However, those waste products are used to develop fiber-reinforced textile composite material. In this research work, the composite was developed using human hair fiber and analysis of the mechanical and physical properties of the developed composite sample. A composite sample was made with different ratios of human hair and unsaturated polyester resin, and an analysis of the mechanical and physical properties of the developed composite sample was tested according to standards. The fabricated human hair fibers reinforced polymer matrix composite sample has given encouraging results in terms of high strength and rigidity for lightweight house ceiling board material.

Keywords: composite, human hair fiber, matrix, unsaturated polyester

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Authors: Fathi Mohamed Abdrabbo, Khaled Esayed Gaaver, Musab Musa Eldooma

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This paper presents an attempt made to investigate the behavior of a single vertical steel hollow pile embedded in sand subjected to compressive inclined load at various inclination angles α through FEM package MIDAS GTS/NX 2019. The effect of the inclination angle and slenderness ratio on the performance of the pile was investigated. Inclined load caring capacity and pile stiffness, as well as lateral deformation profiles along with the pile, were presented. The global, vertical, and horizontal load displacements of pile head, as well as the deformation profiles along the pile and the pile stiffness, are significantly affected by α. It was observed that the P-Y curves of the pile-soil system are independent of α. Also, the slenderness ratios are markedly affecting the behavior of the pile. In addition, there was a noticeable effect of the horizontal load component of the applied load on the vertical behavior of the pile, whereas there was no influence of the presence of vertical load on the horizontal behavior of the pile.

Keywords: deep foundation, piles, inclined load, pile deformations

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Authors: Paulette Henry

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If Caribbean Universities wish to remain sustainable in the global education market they must meet the new demands of the 21st Centuries learners. This means preparing the teaching and learning environment with the human and material and resources so that the University can blossom out into the entrepreneurial University. The entrepreneurial University prepares the learner to become a global citizen, one who is innovative and a critical thinker and has the competencies to create jobs. Entrepreneurship education provides more equitable access to university education building capacity for the local and global economy. The entrepreneurial thinking, the mindset, must therefore be among academic and support staff as well as students. In developing countries where resources are scarce, Universities are grappling with a myriad of financial and non-financial issues. These include increasing costs, Union demands for increased remuneration for staff and reduced subvention from governments which has become the norm. In addition, there is the political pressure against increasing tuition fees and the perceptions on the moral responsibilities of universities in national development. The question is how do small universities carve out their niche, meet both political and consumer demands for a high quality, low lost education, fulfil their development mandate and still remain not only viable but competitive. Themes which are central to this discourse on the transitions necessary for the entrepreneurial university are leadership, governance and staff well-being. This paper therefore presents a case study of a Caribbean University to show how transformational leadership and the change management framework propels change towards an entrepreneurial institution seeking to have a competitive advantage despite its low resourced context. Important to this discourse are the transformational approaches used by the University to prepare staff to move from their traditional psyche to embracing an entrepreneurial mindset whilst equipping students within the same mode to become work ready and creative global citizens. Using the mixed methods approach, opinions were garnered from both members of the University community as well as external stakeholder groups on their perception of the role of the University in the business arena and as a primary stakeholder in national development. One of the critical concepts emanating from the discourse was the need to change the mindset of the those in university governance as well as how national stakeholders engage the university. This paper shows how multiple non-financial factors can contribute to change. A combination of transformational and servant leadership, strengthened institutional structures and developing new ones, rebuilding institutional trust and pride have been among the strategies employed within the change management framework. The university is no longer limited by borders but through international linkages has transcended into a transnational stakeholder.

Keywords: competitiveness, context, entrepreneurial, leadership

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Authors: Monica Santi, Evita Puspitasari

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International Financial Reporting Standard (IFRS) has developed the principle based accounting standard. Based on this, IASB then eliminated the conservatism concept within accounting framework. Conservatism concept represents a prudent reaction to uncertainty to try to ensure that uncertainties and risk inherent in business situations are adequately considered. The conservatism concept has two ingredients: conditional conservatism or ex-post (news depending prudence) and unconditional conservatism or ex-ante (news-independent prudence). IFRS in substance disregards the unconditional conservatism because the unconditional conservatism can cause the understatement assets or overstated liabilities, and eventually the financial statement would be irrelevance since the information does not represent the real fact. Therefore, the IASB eliminate the conservatism concept. However, it does not decrease the practice of unconditional conservatism in the financial statement reporting. Therefore, we expected the earnings quality would be affected because of this situation, even though the IFRS implementation was expected to increase the earnings quality. The objective of this study was to provide empirical findings about the unconditional conservatism and the earnings quality before and after the IFRS adoption. The earnings per accrual measure were used as the proxy for the unconditional conservatism. If the earnings per accrual were negative (positive), it meant the company was classified as the conservative (not conservative). The earnings quality was defined as the ability of the earnings in reflecting the future earnings by considering the earnings persistence and stability. We used the earnings response coefficient (ERC) as the proxy for the earnings quality. ERC measured the extant of a security’s abnormal market return in response to the unexpected component of reporting earning of the firm issuing that security. The higher ERC indicated the higher earnings quality. The manufacturing companies listed in the Indonesian Stock Exchange (IDX) were used as the sample companies, and the 2009-2010 period was used to represent the condition before the IFRS adoption, and 2011-2013 was used to represent the condition after the IFRS adoption. Data was analyzed using the Mann-Whitney test and regression analysis. We used the firm size as the control variable with the consideration the firm size would affect the earnings quality of the company. This study had proved that the unconditional conservatism had not changed, either before and after the IFRS adoption period. However, we found the different findings for the earnings quality. The earnings quality had decreased after the IFRS adoption period. This empirical results implied that the earnings quality before the IFRS adoption was higher. This study also had found that the unconditional conservatism positively influenced the earnings quality insignificantly. The findings implied that the implementation of the IFRS had not decreased the unconditional conservatism practice and has not altered the earnings quality of the manufacturing company. Further, we found that the unconditional conservatism did not affect the earnings quality. Eventhough the empirical result shows that the unconditional conservatism gave positive influence to the earnings quality, but the influence was not significant. Thus, we concluded that the implementation of the IFRS did not increase the earnings quality.

Keywords: earnings quality, earnings response coefficient, IFRS Adoption, unconditional conservatism

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Authors: Leslie Raphael de M. Ferraz, Salvana Priscylla M. Costa, Tarcyla de A. Gomes, Giovanna Christinne R. M. Schver, Cristóvão R. da Silva, Magaly Andreza M. de Lyra, Danilo Augusto F. Fontes, Larissa A. Rolim, Amanda Carla Q. M. Vieira, Miracy M. de Albuquerque, Pedro J. Rolim-Neto

Abstract:

Efavirenz (EFV) is a drug used as first-line treatment of AIDS. However, it has poor aqueous solubility and wettability, presenting problems in the gastrointestinal tract absorption and bioavailability. One of the most promising strategies to improve the solubility is the use of solid dispersions (SD). Therefore, this study aimed to characterize SD EFZ with the polymers: PVP-K30, PVPVA 64 and SOLUPLUS in order to find an optimal formulation to compose a future pharmaceutical product for AIDS therapy. Initially, Physical Mixtures (PM) and SD with the polymers were obtained containing 10, 20, 50 and 80% of drug (w/w) by the solvent method. The best formulation obtained between the SD was selected by in vitro dissolution test. Finally, the drug-carrier system chosen, in all ratios obtained, were analyzed by the following techniques: Differential Scanning Calorimetry (DSC), polarization microscopy, Scanning Electron Microscopy (SEM) and spectrophotometry of absorption in the region of infrared (IR). From the dissolution profiles of EFV, PM and SD, the values of area Under The Curve (AUC) were calculated. The data showed that the AUC of all PM is greater than the isolated EFV, this result is derived from the hydrophilic properties of the polymers thus favoring a decrease in surface tension between the drug and the dissolution medium. In adittion, this ensures an increasing of wettability of the drug. In parallel, it was found that SD whom had higher AUC values, were those who have the greatest amount of polymer (with only 10% drug). As the amount of drug increases, it was noticed that these results either decrease or are statistically similar. The AUC values of the SD using the three different polymers, followed this decreasing order: SD PVPVA 64-EFV 10% > SD PVP-K30-EFV 10% > SD Soluplus®-EFV 10%. The DSC curves of SD’s did not show the characteristic endothermic event of drug melt process, suggesting that the EFV was converted to its amorphous state. The analysis of polarized light microscopy showed significant birefringence of the PM’s, but this was not observed in films of SD’s, thus suggesting the conversion of the drug from the crystalline to the amorphous state. In electron micrographs of all PM, independently of the percentage of the drug, the crystal structure of EFV was clearly detectable. Moreover, electron micrographs of the SD with the two polymers in different ratios investigated, we observed the presence of particles with irregular size and morphology, also occurring an extensive change in the appearance of the polymer, not being possible to differentiate the two components. IR spectra of PM corresponds to the overlapping of polymer and EFV bands indicating thereby that there is no interaction between them, unlike the spectra of all SD that showed complete disappearance of the band related to the axial deformation of the NH group of EFV. Therefore, this study was able to obtain a suitable formulation to overcome the solubility limitations of the EFV, since SD PVPVA 64-EFZ 10% was chosen as the best system in delay crystallization of the prototype, reaching higher levels of super saturation.

Keywords: characterization, dissolution, Efavirenz, solid dispersions

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Authors: Bayram Sahin, Hourieh Bayramian, Emre Mandev, Murat Ceylan

Abstract:

In industrial applications, the demand for the enhancement of heat transfer is a common engineering problem. The use of additives to heat transfer fluid is a technique applied to enhance the heat transfer performance of base fluids. In this study, the thermal performance of nanofluids consisting of SiO2 particles and deionized water in circular microchannels was investigated experimentally. SiO2 nanoparticles with diameter of 15 nm were added to water to prepare nanofluids with 0.2% and 0.4% volume fractions. Heat transfer characteristics were calculated by using temperature, flow and pressure measurements. The thermal conductivity and viscosity values required for the calculations are measured separately. It is observed that the Nusselt number increases at the all volume fraction of particles, by increasing the Reynolds number and the volumetric ratios of the particles. The highest heat transfer enhancement is obtained at Re = 2160 and 0.4 % vol. by 14% under the condition of a constant pumping power.

Keywords: nanofluid, microchannel, heat transfer, SiO2-water nanofluid

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Authors: Mohammad Yousaf Safi Mohibullah Afghan

Abstract:

The study made on Islamic and conventional banks scrutinizes the risks interconnected with credit and liquidity on the productivity performance of Islamic and conventional banks that operate in Pakistan. Among the banks, only 4 Islamic and 18 conventional banks have been selected to enrich the result of our study on Islamic banks performance in connection to conventional banks. The selection of the banks to the panel is based on collecting quarterly unbalanced data ranges from the first quarter of 2007 to the last quarter of 2017. The data are collected from the Bank’s web sites and State Bank of Pakistan. The data collection is carried out based on Delta-method test. The mentioned test is used to find out the empirical results. In the study, while collecting data on the banks, the return on assets and return on equity have been major factors that are used assignificant proxies in determining the profitability of the banks. Moreover, another major proxy is used in measuring credit and liquidity risks, the loan loss provision to total loan and the ratio of liquid assets to total liability. Meanwhile, with consideration to the previous literature, some other variables such as bank size, bank capital, bank branches, and bank employees have been used to tentatively control the impact of those factors whose direct and indirect effects on profitability is understood. In conclusion, the study emphasizes that credit risk affects return on asset and return on equity positively, and there is no significant difference in term of credit risk between Islamic and conventional banks. Similarly, the liquidity risk has a significant impact on the bank’s profitability, though the marginal effect of liquidity risk is higher for Islamic banks than conventional banks.

Keywords: islamic & conventional banks, performance return on equity, return on assets, pakistan banking sectors, profitibility

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Authors: S. Shakibaei, P. Alpkokin

Abstract:

The railway network is one of the major components of a transportation system in a country which may be an indicator of the country’s level of economic improvement. Since 2000s on, revival of national railways and development of High Speed Rail (HSR) lines are one of the most remarkable policies of Turkish government in railway sector. Within this trend, the railway age is to be revived and coming decades will be a golden opportunity. Indubitably, major infrastructures such as road and railway networks require sizeable investment capital, precise maintenance and reparation. Traditionally, governments are held responsible for funding, operating and maintaining these infrastructures. However, lack or shortage of financial resources, risk responsibilities (particularly cost and time overrun), and in some cases inefficacy in constructional, operational and management phases persuade governments to find alternative options. Financial power, efficient experiences and background of private sector are the factors convincing the governments to make a collaboration with private parties to develop infrastructures. Public-Private Partnerships (PPP or 3P or P3) and related regulatory issues are born considering these collaborations. In Turkey, PPP approaches have attracted attention particularly during last decade and these types of investments have been accelerated by government to overcome budget limitations and cope with inefficacy of public sector in improving transportation network and its operation. This study mainly tends to present a comprehensive overview of PPP concept, evaluate the regulatory procedure in Europe and propose a general framework for Turkish State Railways (TCDD) as an outlook on privatization, liberalization and deregulation of railway network.

Keywords: deregulation, high-speed railway, liberalization, privatization, public-private partnership

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Authors: Nada Azhar

Abstract:

The aim of the paper is to investigate the effect of corporate social responsibility (CSR) CSR on the National Commercial Bank (NCB) in Saudi Arabia. In order to achieve this, a case study was made of the CSR activities of this bank from the perspective of its branch managers. The NCB was chosen as it was one of the first Saudi banks to engage in CSR and currently has a wide range of CSR initiatives. A qualitative research method was used. Open-ended questionnaires were administered to eighty branch managers of the NCB, with fifty-five usable questionnaires returned and twenty managers were interviewed as part of the primary research. Data from both questionnaires and interviews were analysed using qualitative content analysis. Six themes emerged from the questionnaire findings were used to develop the interview questions. These themes are the following: Awareness of employees about CSR in the NCB; CSR activities as a type of investment; Government and media support; Increased employee loyalty in the NCB; Prestige and profit to the NCB; and View of CSR in Islam. This paper makes a theoretical contribution in that it investigates and increases understanding of the effect of CSR on the NCB in Saudi Arabia. In addition, it makes a practical contribution by making recommendations which can support the development of CSR in the NCB. A limitation of the paper is that it is a case study of only one bank. It is therefore recommended that future research could be conducted with other banks in Saudi Arabia, or indeed, with a range of other types of firm within the financial services area in Saudi Arabia. In this way, the same issues could be explored but with a greater potential generalisability of findings of CSR within the Saudi Arabian financial services industry. In addition, this paper takes a qualitative approach and it is suggested that future research be carried out using mixed methods, which could provide a greater depth of analysis.

Keywords: branch managers, corporate social responsibility, national commercial bank, Saudi Arabia

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Authors: Junqi Zou

Abstract:

As one of the world’s most tech-ready countries, Singapore has initiated the Smart Nation plan to harness the full power and potential of digital technologies to transform the way people live and work, through the more efficient government and business processes, to make the economy more productive. The key evolutions of digital technology transformation in healthcare and the increasing deployment of Internet of Things (IoTs), Big Data, AI/cognitive, Robotic Process Automation (RPA), Electronic Health Record Systems (EHR), Electronic Medical Record Systems (EMR), Warehouse Management System (WMS in the most recent decade have significantly stepped up the move towards an information-driven healthcare ecosystem. The advances in information technology not only bring benefits to patients but also act as a key force in changing management accounting in healthcare sector. The aim of this study is to investigate the impacts of digital technology transformation on Singapore’s healthcare sector from a management accounting perspective. Adopting a Balanced Scorecard (BSC) analysis approach, this paper conducted an exploratory case study of a newly launched Singapore public hospital, which has been recognized as amongst the most digitally advanced healthcare facilities in Asia-Pacific region. Specifically, this study gains insights on how the new technology is changing healthcare organizations’ management accounting from four perspectives under the Balanced Scorecard approach, 1) Financial Perspective, 2) Customer (Patient) Perspective, 3) Internal Processes Perspective, and 4) Learning and Growth Perspective. Based on a thorough review of archival records from the government and public, and the interview reports with the hospital’s CIO, this study finds the improvements from all the four perspectives under the Balanced Scorecard framework as follows: 1) Learning and Growth Perspective: The Government (Ministry of Health) works with the hospital to open up multiple training pathways to health professionals that upgrade and develops new IT skills among the healthcare workforce to support the transformation of healthcare services. 2) Internal Process Perspective: The hospital achieved digital transformation through Project OneCare to integrate clinical, operational, and administrative information systems (e.g., EHR, EMR, WMS, EPIB, RTLS) that enable the seamless flow of data and the implementation of JIT system to help the hospital operate more effectively and efficiently. 3) Customer Perspective: The fully integrated EMR suite enhances the patient’s experiences by achieving the 5 Rights (Right Patient, Right Data, Right Device, Right Entry and Right Time). 4) Financial Perspective: Cost savings are achieved from improved inventory management and effective supply chain management. The use of process automation also results in a reduction of manpower costs and logistics cost. To summarize, these improvements identified under the Balanced Scorecard framework confirm the success of utilizing the integration of advanced ICT to enhance healthcare organization’s customer service, productivity efficiency, and cost savings. Moreover, the Big Data generated from this integrated EMR system can be particularly useful in aiding management control system to optimize decision making and strategic planning. To conclude, the new digital technology transformation has moved the usefulness of management accounting to both financial and non-financial dimensions with new heights in the area of healthcare management.

Keywords: balanced scorecard, digital technology transformation, healthcare ecosystem, integrated information system

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Authors: Elena Barbaro, Elena Gregoris, Rossano Piazza, Boris Mifka, Tatjana Ivošević, Ivo Orlić, Ana Alebić-Juretić, Andrea Gambaro, Daniele Contini

Abstract:

The aim of the POSEIDON project is to quantify the relative contribution of maritime traffic and harbor activities to atmospheric pollutants concentration in four port-cities of the Adriatic Sea. This study focuses on the harbors of Venice and Rijeka. In order to investigate the main pollution sources, emission inventories were used as input for receptor models: PMF (positive matrix factorization) and PCA (principal components analysis); moreover source identification was also conducted using PAHs diagnostic ratios. The ship traffic impact was quantified: i) on gaseous and particulate PAHs, collected using a new method which consisted in a double simultaneous sampling, in different wind sectors; ii) applying PMF to data of metals, PAHs and ions in PM10; iii) using the vanadium concentration according to the Agrawal methodology.

Keywords: ship traffic, PMF, harbor, POSEIDON

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Authors: Ahmad Dahlan Salleh, Nik Abdul Rahim Nik Abdul Ghani, Muhamad Firdaus M. Hatta

Abstract:

Risk management has implications on pricing, governance arrangements, business practices and strategy. Nowadays, home financing contract offers more in the risk transfer form to increase bank profit. This is parallel with Islamic jurisprudence method al-Kharaj bi al-thaman (gain accompanies liability for loss) and al-ghurm bil ghunm (gain is justified with risk) that determine the matching between risk transfer and returns. Malaysian financing trend is to buy house. Besides, exists transparency lacking risk transfer issues to the clients because of not been informed clearly. Terms and conditions of each financing also do not reflect clearly that the risk has been transferred to the client, justifying a determination price been made. The assumption on risk occurrence is also inaccurate as each risk is different with the type of financing contract. This makes the Islamic Financial Services Act 2013 in providing standards that transparent and consistent can be used by Islamic financial institution less effective. This study examines how far the level of the risk and obligation incurred by bank and client under various Islamic home financing contract. This research is qualitative by using two methods, document analysis, and semi-structured interviews. Document analysis from literature review to identify profile, themes and risk transfer element in home financing from Islamic jurisprudence perspective. This study finds that need to create a risk transfer parameter by banks which are consistent with risk transfer theory according to Islamic jurisprudence. This study has potential to assist the authority in Islamic finance such as The Central Bank of Malaysia (Bank Negara Malaysia) in regulating Islamic banking industry so that the risk transfer valuation in home financing contract based on home financing good practice and determined risk limits.

Keywords: risk transfer, home financing contract, Sharia compliant, Malaysia

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Authors: Ryan D. Hoult

Abstract:

The inherent assumption in the elementary theory of bending that plane sections remain plane is commonly used in the design of reinforced concrete members. However, in reality, a shear flow would develop in non-rectangular sections, where the longitudinal strains in between the web and flanges of the element would lag behind those at the boundary ends. This phenomenon, known as shear lag, can significantly reduce the expected moment capacity of non-rectangular reinforced concrete walls. This study focuses on shear lag effects in reinforced concrete U-shaped walls, which are commonly used as lateral load resisting elements in reinforced concrete buildings. An extensive number of finite element modelling analyses are conducted to estimate the vertical strain distributions across the web and flanges of a U-shaped wall with different axial load ratios and longitudinal reinforcement detailing. The results show that shear lag effects are prominent and sometimes significant in U-shaped walls, particularly for the wall sections perpendicular to the direction of loading.

Keywords: shear lag, walls, U-shaped, moment-curvature

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Authors: M. Yavuz Hüseyinca, Şuayip Küpeli

Abstract:

The Chemical Index of Alteration (CIA) values of Late Eocene-Oligocene aged sandstones that exposed on the eastern edge of Tuz Lake (Central Anatolia, Turkey) range from 49 to 59 with an average of 51. The A-CN-K diagram indicates that sandstones underwent post-depositional K-metasomatism. The original average CIA value before the K-metasomatism is calculated as 55. This value is lower than that of Post Archean Australian Shale (PAAS) and defines a low intense chemical weathering in the source-area. Extrapolation of sandstones back to the plagioclase-alkali feldspar line in the A-CN-K diagram suggests a high average plagioclase to alkali feldspar ratio in the provenance and a composition close to granodiorite. The Zr/Sc and Th/Sc ratios with the Al₂O₃-Zr-TiO₂ space do not show zircon addition that refuse both recycling of sediments and sorting effect. All these data suggest direct and rapid transportation from the source due to topographic uplift and probably arid to semi-arid climate conditions for the sandstones.

Keywords: central Anatolia, sandstone, sorting, weathering

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Authors: Nico Rosamilia

Abstract:

The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

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