Search results for: financial stability and solvency margin

Authors: Shreemoyee Sarkar, Vikhyat Chadha

Abstract:

In this paper, the local fractal properties and chaotic properties of financial time series are investigated by calculating two exponents, the Local Hurst Exponent: LHE and Lyapunov Exponent in a moving time window of a financial series.y. For the purpose of this paper, the Dow Jones Industrial Average (DIJA) and S&P 500, two of the major indices of United States have been considered. The behaviour of the above-mentioned exponents prior to some major crashes (1998 and 2008 crashes in S&P 500 and 2002 and 2008 crashes in DIJA) is discussed. Also, the optimal length of the window for obtaining the best possible results is decided. Based on the outcomes of the above, an attempt is made to predict the crashes and accuracy of such an algorithm is decided.

Keywords: local hurst exponent, lyapunov exponent, market crash prediction, time series chaos, time series local fractal properties

Procedia PDF Downloads 144

Authors: Peng Chun-Yi, Chen Wei-Hsuan, Ueng Shyh-Kuang

Abstract:

This study focuses on the application of self-organizing maps (SOM) technology in analyzing credit card transaction data, aiming to enhance the accuracy and efficiency of fraud detection. Som, as an artificial neural network, is particularly suited for pattern recognition and data classification, making it highly effective for the complex and variable nature of credit card transaction data. By analyzing transaction characteristics with SOM, the research identifies abnormal transaction patterns that could indicate potentially fraudulent activities. Moreover, this study has developed a specialized visualization tool to intuitively present the relationships between SOM analysis outcomes and transaction data, aiding financial institution personnel in quickly identifying and responding to potential fraud, thereby reducing financial losses. Additionally, the research explores the integration of SOM technology with composite intelligent system technologies (including finite state machines, fuzzy logic, and decision trees) to further improve fraud detection accuracy. This multimodal approach provides a comprehensive perspective for identifying and understanding various types of fraud within credit card transactions. In summary, by integrating SOM technology with visualization tools and composite intelligent system technologies, this research offers a more effective method of fraud detection for the financial industry, not only enhancing detection accuracy but also deepening the overall understanding of fraudulent activities.

Keywords: self-organizing map technology, fraud detection, information visualization, data analysis, composite intelligent system technologies, decision support technologies

Procedia PDF Downloads 54

Authors: Freddy Munzhelele

Abstract:

Setting: the empirical research has shown that the life cycle theory has an impact on the firms’ financing decisions, particularly the dividend pay-outs. Accordingly, the life cycle theory posits that as a firm matures, it gets to a level and capacity where it distributes more cash as dividends. On the other hand, the young firms prioritise investment opportunities sets and their financing; thus, they pay little or no dividends. The research on firms’ financing decisions also demonstrated, among others, the adoption of trade-off and pecking order theories on the dynamics of firms capital structure. The trade-off theory talks to firms holding a favourable position regarding debt structures particularly as to the cost and benefits thereof; and pecking order is concerned with firms preferring a hierarchical order as to choosing financing sources. The case of life cycle hypothesis explaining the financial managers’ decisions as regards the firms’ capital structure dynamics appears to be an interesting link, yet this link has been neglected in corporate finance research. If this link is to be explored as an empirical research, the financial decision-making alternatives will be enhanced immensely, since no conclusive evidence has been found yet as to the dynamics of capital structure. Aim: the aim of this study is to examine the impact of life cycle theory on the capital structure dynamics trade-off and pecking order theories of firms listed in retail, industrial and mining sectors of the JSE. These sectors are among the key contributors to the GDP in the South African economy. Design and methodology: following the postpositivist research paradigm, the study is quantitative in nature and utilises secondary data obtainable from the financial statements of sampled firm for the period 2010 – 2022. The firms’ financial statements will be extracted from the IRESS database. Since the data will be in panel form, a combination of the static and dynamic panel data estimators will used to analyse data. The overall data analyses will be done using STATA program. Value add: this study directly investigates the link between the life cycle theory and the dynamics of capital structure decisions, particularly the trade-off and pecking order theories.

Keywords: life cycle theory, trade-off theory, pecking order theory, capital structure, JSE listed firms

Procedia PDF Downloads 55

Authors: Olurankinse Felix, Fatukasi Bayo

Abstract:

Over the years, the medium through which government financial statements are prepared has been on cash basis of accounting. This basis was characterised with some shortcomings ranging from non- disclosure of quality and detail information relating to government financial transactions, ill informed assessment of government resource allocation, weak internal control system that inhibits accountability and transparency and non- standardisation of reporting ethics for the purpose of comparability. The emergence of international public sector accounting standards (IPSAS) is therefore seen as leverage as it aims at improving the quality of general purpose financial reporting by public sector entities thereby increasing transparency and accountability. IPSAS is a new concept that all institutions must fully adopts. The crux of this paper is to find out to what extent is the awareness and adoption of IPSAS to both students and lecturers interms of teaching, learning and inclusion in the curriculum of accounting education. The methodology involved the use of well designed questionnaires to obtain information from some selected institutions and the analysis was done with the use of maximum likelihood ordered probit regression. The result of the analysis shows that despite a high level of sensitisation/awareness of IPSAS, the degree of adoption is still low due to low level of desirability by students and lecturers. The paper recommend the need for the government to enact an enabling law to back up the adoption and more importantly to institute appropriate sanctions to ensure full compliance.

Keywords: assessment, awareness, adoption, IPSAS, cash basis

Procedia PDF Downloads 478

Authors: Barenten Suciu

Abstract:

Classical matrix calculus and Routh-Hurwitz stability conditions, applied to the snake-like motion of the conical wheel axle, lead to the conclusion that the hunting mode is inherently unstable, and its natural frequency is a complex number. In order to analytically solve such a complicated vibration model, either the inertia terms were neglected, in the model designated as geometrical, or restrictions on the creep coefficients and yawing diameter were imposed, in the so-called dynamical model. Here, an alternative solution is proposed to solve the hunting mode, based on the observation that the bullet train wheel axle is equipped with cylindrical wheels. One argues that for such wheel treads, the geometrical hunting is irrelevant, since its natural frequency becomes nil, but the dynamical hunting is significant since its natural frequency reduces to a real number. Moreover, one illustrates that the geometrical simplification of the wheel causes the stabilization of the hunting mode, since the characteristic quartic equation, derived for conical wheels, reduces to a quadratic equation of positive coefficients, for cylindrical wheels. Quite simple analytical expressions for the damping ratio and natural frequency are obtained, without applying restrictions into the model of contact. Graphs of the time-depending hunting lateral perturbation, including the maximal and inflexion points, are presented both for the critically-damped and the over-damped wheel axles.

Keywords: bullet train, creep, cylindrical wheels, damping, dynamical hunting, stability, vibration analysis

Procedia PDF Downloads 149

Authors: Yunjia Yang, Yakun Yan, Peng Li, Gordon Xu, Timothy Mahony, Neena Mitter, Karishma Mody

Abstract:

Sheep flystrike is one of the most economically important diseases affecting the Australian sheep and wool industry (>356M/annually). Currently, control of Lucillia cuprina relies almost exclusively on chemicals controls and the parasite has developed resistance to nearly all control chemicals used in the past. It is therefore critical to develop an alternative solution for the sustainable control and management of flystrike. RNA interference (RNAi) technologies have been successfully explored in multiple animal industries for developing parasites controls. This research project aims to develop a RNAi based biological control for sheep blowfly. Double-stranded RNA (dsRNA) has already proven successful against viruses, fungi and insects. However, the environmental instability of dsRNA is a major bottleneck with a protection window only lasting 5-7 days. Bentonite polymer (BenPol) technology can overcome this problem, as it can be tuned for controlled release of the dsRNA in the gut challenging pH environment of the blowfly larvae, prolonging its exposure time to and uptake by target cells. We have investigated four different BenPol carriers for their dsRNA loading capabilities of which three of them were able to afford dsRNA stability under multiple temperatures (4°C, 22°C, 40°C, 55°C) in the sheep serum. Based on stability results, we further tested dsRNA from potential targeted genes loaded with BenPol carrier in larvae feeding assay, and get three knockdowns. Our results, establish that the dsRNA when loaded on BenPol particles is stable unlike naked dsRNA which is rapidly degraded in the sheep serum. A stable nanoparticles delivery system that can protect and increase the inherent stability of the dsRNA molecules at higher temperatures in a complex biological fluid like serum, offers a great deal of promise for the future use of this approach for enhancing animal protection.

Keywords: RNA interference, Lucillia cuprina, polymer carriers, polymer stability

Procedia PDF Downloads 72

Authors: Ihab S. Jweida

Abstract:

Libya is witnessing major shifts in international migration flows resulting frompolitical, economic, social, security and environmental reasons as a result of what it iswitnessing from the elements of a fragile state due to government division, politicalconflicts, security chaos and the spread of terrorist organizations, since the popularuprising in February 2011, which threatens economic, social and security stability andthen The political stability of the Mediterranean basin countries. Therefore, this studycame as a scientific research aimed at analyzing the role of political economy inexplaining international migration with application to the case of Libya during theperiod from 2011-2021. To achieve this objective, the researcher relied on the descriptive approach basedon qualitative and quantitative analysis to analyze studies, reports, and internationalmigration policies in Libya, and conducted an exploratory study based on a personalinterview questionnaire for (670) migrants present in the distribution areas in Libyaand (65) Libyan migrants,

Keywords: international, migration, Libya, case

Procedia PDF Downloads 53

Authors: Meet Patel, Darshan Patel, Nilay Shah

Abstract:

Excess growth of wind-based renewable energy sources is required to identify the optimal location and damping capacity of doubly fed induction-generator-based (DFIG) wind farms while it penetrates into the transmission network. In this analysis, various ratings of DFIG wind farms are penetrated into the Single Machine Infinite Bus (SMIB ) at a different distance of the transmission line. On the basis of detailed examinations, a prime position is evaluated to maximize the stability of overall systems. A damping controller is designed at an optimum location to mitigate the small oscillations. The proposed model was validated using eigenvalue analysis, calculation of the participation factor, and time-domain simulation.

Keywords: DFIG, small signal stability, eigenvalues, time domain simulation

Procedia PDF Downloads 104

Authors: Aarohi Surya

Abstract:

The number of mobile banking users continues to climb across the world due to its increasing popularity, and UAE is no exception. This type of banking is part of the core strategy of most of the financial institutions that allows its customers to conduct a range of financial transactions through mobile apps to cash in the high demand from the bankers. This study aims at evaluating service quality of online banking in Dubai, one of the swiftly growing cities of Middle East. The paper mainly compares online banking services of Multinational bank and National Bank with special reference to Citibank and Emirates NBD. A structured questionnaire survey is conducted among various target groups. The research has been focused on mainly 4 significant areas of online banking, i.e. Privacy, Responsiveness, Reliability, and Efficiency of customer data. Information was analyzed statistically on SPSS to investigate the service quality of e-banking.

Keywords: customer satisfaction, service quality, responsiveness, online banking

Procedia PDF Downloads 267

Authors: Abimbola Adedeji, Ahmad Shauqi Zubir

Abstract:

This paper examines the profitability and risk between investing in gold exchange traded funds (ETFs) and gold mutual funds compares to gold prices. The main focus in determining whether there are similarities or differences between those financial products is the tracking error. The importance of understanding the similarities or differences between the gold ETFs, gold mutual funds and gold prices is derived from the fact that gold ETFs and gold mutual funds are used as substitutions for investors who are looking to profit from gold prices although they are short in capital. 10 hypotheses were tested. There are 3 types of tracking error used. Tracking error 1 and 3 gives results that differentiate between types of ETFs and mutual funds, hence yielding the answers in answering the hypotheses that were developed. However, tracking error 2 failed to give the answer that could shed light on the questions raised in this study. All of the results in tracking error 2 technique only telling us that the difference between the ups and downs of the financial instruments are similar, statistically to the physical gold prices movement.

Keywords: gold etf, gold mutual funds, tracking error

Procedia PDF Downloads 416

Authors: Lei Wang, Yingzhou Ni, Amr M. Bakry, Hao Cheng, Li Liang

Abstract:

Food proteins have been widely used as carrier materials because of their multiple functional properties. In this study, alfa-tocopherol was encapsulated in the oil phase of an oil-in-water emulsion stabilized with whey protein isolate (WPI). The influence of WPI concentration and resveratrol or ascorbic acid on the decomposition of alfa-tocopherol in the emulsion during storage is discussed. Decomposition decreased as WPI concentrations increased. Decomposition was delayed at ascorbic acid/WPI molar ratios lower than 5 but was promoted at higher ratios. Resveratrol partitioned into the oil-water interface by binding to WPI and its cis-isomer is believed to have contributed most of the protective effect of this polyphenol. These results suggest the possibility of using the emulsifying and ligand-binging properties of WPI to produce carriers for simultaneous encapsulation of alfa-tocopherol and resveratrol in a single emulsion system.

Keywords: stability, alfa-tocopherol, resveratrol, whey protein isolate

Procedia PDF Downloads 518

Authors: Yi-Chiang Huang, Hsu-Feng Lee, Yu-Chao Tseng, Wen-Yao Huang

Abstract:

Proton exchange membranes as a key component in fuel cells have been widely studying over the past few decades. As proton exchange, membranes should have some main characteristics, such as good mechanical properties, low oxidative stability and high proton conductivity. In this work, trifluoromethyl groups had been introduced on polymer backbone and phenyl side chain which can provide densely located sulfonic acid group substitution and also promotes solubility, thermal and oxidative stability. Herein, a series of novel sulfonated aromatic hydrocarbon polyelectrolytes was synthesized by polycondensation of 4,4''''-difluoro-3,3''''- bis(trifluoromethyl)-2'',3''-bis(3-(trifluoromethyl)phenyl)-1,1':4',1'':4'',1''':4''',1''''-quinquephenyl with 2'',3''',5'',6''-tetraphenyl-[1,1':4',1'': 4'',1''':4''',1''''-quinquephenyl]-4,4''''-diol and post-sulfonated was through chlorosulfonic acid to given sulfonated polymers (SFC3-X) possessing ion exchange capacities ranging from 1.93, 1.91 and 2.53 mmol/g. ¹H NMR and FT-IR spectroscopy were applied to confirm the structure and composition of sulfonated polymers. The membranes exhibited considerably dimension stability (10-27.8% in length change; 24-56.5% in thickness change) and excellent oxidative stability (weight remain higher than 97%). The mechanical properties of membranes demonstrated good tensile strength on account of the high rigidity multi-phenylated backbone. Young's modulus were ranged 0.65-0.77GPa which is much larger than that of Nafion 211 (0.10GPa). Proton conductivities of membranes ranged from 130 to 240 mS/cm at 80 °C under fully humidified which were comparable or higher than that of Nafion 211 (150 mS/cm). The morphology of membranes was investigated by transmission electron microscopy which demonstrated a clear hydrophilic/hydrophobic phase separation with spherical ionic clusters in the size range of 5-20 nm. The SFC3-1.97 single fuel cell performance demonstrates the maximum power density at 1.08W/cm², and Nafion 211 was 1.24W/cm² as a reference in this work. The result indicated that SFC3-X are good candidates for proton exchange membranes in fuel cell applications. Fuel cell of other membranes is under testing.

Keywords: fuel cells, polyelectrolyte, proton exchange membrane, sulfonated polymers

Procedia PDF Downloads 449

Authors: Yves Alain Ach, Sandra Rmadi Said

Abstract:

An extensive review of literature in relation to brands has shown that little research has focused on the nature and determinants of the information disclosed by companies with respect to the brands they own and use. The objective of this paper is to address this issue. More specifically, the aim is to characterize the nature of the information disclosed by companies in terms of estimating the value of brands and to identify the determinants of that information according to the company’s characteristics most frequently tested by previous studies on the disclosure of information on intangible capital, by studying the practices of a sample of 37 French companies. Our findings suggest that companies prefer to communicate accounting, economic and strategic information in relation to their brands instead of providing financial information. The analysis of the determinants of the information disclosed on brands leads to the conclusion that the groups which operate internationally and have chosen a category 1 auditing firm to communicate more information to investors in their annual report. Our study points out that the sector is not an explanatory variable for voluntary brand disclosure, unlike previous studies on intangible capital. Our study is distinguished by the study of an element that has been little studied in the financial literature, namely the determinants of brand-related information. With regard to the effect of size on brand-related information disclosure, our research does not confirm this link. Many authors point out that large companies tend to publish more voluntary information in order to respond to stakeholder pressure. Our study also establishes that the relationship between brand information supply and performance is insignificant. This relationship is already controversial by previous research, and it shows that higher profitability motivates managers to provide more information, as this strengthens investor confidence and may increase managers' compensation. Our main contribution focuses on the nature of the inherent characteristics of the companies that disclose the most information about brands. Our results show the absence of a link between size and industry on the one hand and the supply of brand information on the other, contrary to previous research. Our analysis highlights three types of information disclosed about brands: accounting, economics and strategy. We, therefore, question the reasons that may lead companies to voluntarily communicate mainly accounting, economic and strategic information in relation to our study from one year to the next and not to communicate detailed information that would allow them to reconstitute the financial value of their brands. Our results can be useful for companies and investors. Our results highlight, to our surprise, the lack of financial information that would allow investors to understand a better valuation of brands. We believe that additional information is needed to improve the quality of accounting and financial information related to brands. The additional information provided in the special report that we recommend could be called a "report on intangible assets”.

Keywords: brand related information, brand value, information disclosure, determinants

Procedia PDF Downloads 75

Authors: Nasir Mehmood, Muhammad Yar Khan, Anam Javeed

Abstract:

This study aims to scrutinize the dynamics which tend to impact customer’s purchasing intention of Islamic credit card and nexus of product’s knowledge and religiosity with the attitude of potential Islamic credit card’s customer. The theory of reasoned action strengthened the idea that intentions due to its proven predictive power are most likely to instigate intended consumer behavior. Particularly, the study examines the relationships of perceived financial cost (PFC), subjective norms (SN), and attitude (ATT) with the intention to purchase Islamic credit cards. Using a convenience sampling approach, data have been collected from 450 customers of banks located in Rawalpindi and Islamabad. A five-point Likert scale self-administered questionnaire was used to collect the data. The data were analyzed using the Statistical Package of Social Sciences (SPSS) through the procedures of principal component and multiple regression analysis. The results suggested that customer’s religiosity and product knowledge are strong indicators of attitude towards buying Islamic credit cards. Likewise, subjective norms, attitude, and perceived financial cost have a significant positive impact on customers’ purchase intent of Islamic bank’s credit cards. This study models a useful path for future researchers to further investigate the underlined phenomenon along with a variety of psychodynamic factors which are still in its infancy, at least in the Pakistani banking sector. The study also provides an insight to the practitioners and Islamic bank managers for directing their efforts toward educating customers regarding the use of Islamic credit cards and other financial products.

Keywords: attitude, Islamic credit card, religiosity, subjective norms

Procedia PDF Downloads 136

Authors: Chia-Ling Chang, Hao-Bo Chang

Abstract:

Global climate change alters rainfall characteristics, while the variation of these characteristics further influences environmental conditions, such as hydrologic responses, landslide areas, and the amounts of diffuse pollution. The variations of environmental conditions may impact the stability of water resource systems. The objective of this study is to assess the present conditions of major water resource systems in Taiwan. The impact of climate change on each system is also discussed herein. Compared to the water resource systems in northern Taiwan, the ratio of the precipitation during the rainy season to that during the dry season has a larger increase in southern Taiwan. This variation of hydrologic condition impacts the stability of water resource systems and increases the risk of normal water supply. The findings in this work can be important references for water resource management.

Keywords: basin management, climate change, water resource system, water resource management

Procedia PDF Downloads 371

Authors: Chandralal Shrestha

Abstract:

In the developing countries like Nepal, the community based forest management approach has often been glorified as one of the best forest management alternatives to maximize the forest benefits. Though the approach has succeeded to construct a local level institution and conserve the forest biodiversity, how the local communities perceived about the forest benefits, the question always remains silent among the researchers and policy makers. The paper aims to explore the understanding of forest benefits from the perspective of local communities who used the forests in terms of institutional stability, equity and livelihood opportunity, and ecological stability. The paper revealed that the local communities have mixed understanding over the forest benefits. The institutional and ecological activities carried out by the local communities indicated that they have better understanding over the forest benefits. However, inequality while sharing the forest benefits, low pricing strategy and its negative consequences in valuation of forest products and limited livelihood opportunities indicated the poor understanding.

Keywords: community based forest management, forest benefits, lowland, Nepal

Procedia PDF Downloads 305

Authors: Selami Şahin

Abstract:

In this paper, in order to achieve sufficient bit error rate (BER) according to zenith angle of the satellite to ground station, SNR requirement is investigated utilizing pulse position modulation (PPM). To realize explicit results, all parameters such as link distance, Rytov variance, scintillation index, wavelength, aperture diameter of the receiver, Fried's parameter and zenith angle have been taken into account. Results indicate that after some parameters are determined since the constraints of the system, to achieve desired BER, required SNR values are in wide range while zenith angle changes from small to large values. Therefore, in order not to utilize high link margin, either SNR should adjust according to zenith angle or link should establish with predetermined intervals of the zenith angle.

Keywords: Free-space optical communication, optical downlink channel, atmospheric turbulence, wireless optical communication

Procedia PDF Downloads 390

Authors: Jhansi Rani Boda, G. Sunitha

Abstract:

Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.

Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors

Procedia PDF Downloads 293

Authors: Majority Oji

Abstract:

The print media played a major role in the agitation for self-rule in Nigeria in the 1950s. It remains as a bastion of hope in the dark days of military rule in the country. But in the troubled waters of Nigeria’s politics, accusing fingers are pointed in the direction of the print media as problematic to the political development of the nation. Thus, Nigeria as a nation is torn between the paralyzing forces of political instability and the building powers of political stability. The press assigned a constitutional role to hold everyone, especially government officials accountable to the public, appears to be at the center of these forays. The paper takes a look at the strength and weakness of the print media as a stabilizing or destabilizing agent to the political development of Nigeria. Engaging in this study is essential and the findings fundamental to the sustainability of Nigeria’s nascent democracy. The study draws on the content analysis method. News items from major newspapers across the country were content analyzed to test the validity of the claims that the press serve as agent of political stability or political instability, and whether to accept or reject such claims. The study found that the press has published more stories that unite the people politically as found in the tested hypothesis which shows that P>0.05 implying that media publications are not significant to political instability of the nation regardless of the number of published news stories. The study recommends that all issues relating to professional and ethical standards that affect the practice of journalism in the print media should be addressed by regulatory bodies to starve of chances of information that could lead to intolerance being peddled in the print media.

Keywords: Nigeria, political instability, political stability, print media

Procedia PDF Downloads 245

Authors: Pankaj Dinesh Baviskar

Abstract:

This study examines the impact of curcumin-loaded nano-spheres in the form of emulsions on fish eye cataracts. Curcumin nanoemulsions were prepared by using phenethyl isothiocyanate. Nanoemulsions were synthesized by ultrasound-assisted method at 150 Watt. A zeta potential measurement for curcumin-loaded nanoemulsions was found to be -30.7eV, -13.4eV, and -9.55eV, and particle size was found to be 149.3 nm, 245.3 and nm 403.5 nm using particle size analyzer respectively for different conditions. The surface morphology of nano-spheres was examined by FE-SEM analysis. The zeta potential measured indicates its stability for corresponding nano-spheres. The anti-cataract application was studied by using isolated fish eye lenses. The cataract was induced using high glucose concentrated solution. The biochemical parameters in the form of reduced glutathione were measured to interpret the anti-cataract ability of curcumin-loaded nanoemulsions.

Keywords: curcumin, nano, cataract, nanoemulsion

Procedia PDF Downloads 109

Authors: Bakr Ali Al-Gamrh, Ku Nor Izah B. Ku Ismail

Abstract:

We investigate the relationship between corporate governance, leverage, risk, and firm performance. We use a firm level panel that spans the period 2008 to 2012 of all listed firms on Abu Dhabi Stock Exchange and Dubai Financial Market. After constructing an index of corporate governance strength, we find a negative effect of corporate governance on firm performance. We, however, discover that corporate governance strength indirectly improves the negative influence of leverage on firm performance in normal times. On the contrary, the results completely reversed when there is a black swan event. Corporate governance strength plays a significantly negative role in moderating the relationship between leverage and firm performance during the financial crisis. We also reveal that corporate governance strength increases firms’ risk and deteriorates performance during crisis. Results provide evidence that corporate governance indirectly plays a completely different role in different time periods.

Keywords: corporate governance, firm performance, risk, leverage, the UAE

Procedia PDF Downloads 540

Authors: Claire Norman-Maillet

Abstract:

Insider fraud, otherwise known as occupational, employee, or internal fraud, is a financial crime threat. Perpetrated by defrauding (or attempting to defraud) one’s current, prospective, or past employer, an ‘employee’ covers anyone employed by the company, including board members and contractors. The Coronavirus pandemic has forced insider fraud into the spotlight, and it isn’t dimming. As the focus of most academics and practitioners has historically been on that of ‘external fraud’, insider fraud is often overlooked or not considered to be a real threat. However, since COVID-19 changed the working world, pushing most of us into remote or hybrid working, employers cannot easily keep an eye on what their staff are doing, which has led to reliance on trust and transparency. This, therefore, brings about an increased risk of insider fraud perpetration. The objective of this paper is to explore why insider fraud is, therefore, now the biggest threat to a business. To achieve the research objective, participating individuals within the financial crime sector (either as a practitioner or consultants) attended semi-structured interviews with the researcher. The principal recruitment strategy for these individuals was via the researcher’s LinkedIn network. The main findings in the research suggest that insider fraud has been ignored and rejected as a threat to a business, owing to a reluctance to admit that a colleague may perpetrate. A positive of the Coronavirus pandemic is that it has forced insider fraud into a more prominent position and giving it more importance on a business’ agenda and risk register. Despite insider fraud always having been a possibility (and therefore a risk) within any business, it is very rare that a business has given it the attention it requires until now, if at all. The research concludes that insider fraud needs to prioritised by all businesses, and even ahead of external fraud. The research also provides advice on how a business can add new or enhance existing controls to mitigate the risk.

Keywords: insider fraud, occupational fraud, COVID-19, COVID, coronavirus, pandemic, internal fraud, financial crime, economic crime

Procedia PDF Downloads 60

Authors: Himanshu Kumar Gupta

Abstract:

The Jaisalmer Basin is one of the parts of the Rajasthan basin in northwestern India. The presence of five major unconformities/hiatuses of varying span i.e. at the top of Archean basement, Cambrian, Jurassic, Cretaceous, and Eocene have created the foundation for constructing a sequence stratigraphic framework. Based on basin formative tectonic events and their impact on sedimentation processes three first-order sequences have been identified in Rajasthan Basin. These are Proterozoic-Early Cambrian rift sequence, Permian to Middle-Late Eocene shelf sequence and Pleistocene - Recent sequence related to Himalayan Orogeny. The Permian to Middle Eocene I order sequence is further subdivided into three-second order sequences i.e. Permian to Late Jurassic II order sequence, Early to Late Cretaceous II order sequence and Paleocene to Middle-Late Eocene II order sequence. In this study, Late Jurassic to Early Cretaceous sequence was identified and log-based interpretation of smaller order T-R cycles have been carried out. A log profile from eastern margin to western margin (up to Shahgarh depression) has been taken. The depositional environment penetrated by the wells interpreted from log signatures gave three major facies association. The blocky and coarsening upward (funnel shape), the blocky and fining upward (bell shape) and the erratic (zig-zag) facies representing distributary mouth bar, distributary channel and marine mud facies respectively. Late Jurassic Formation (Baisakhi-Bhadasar) and Early Cretaceous Formation (Pariwar) shows a lesser number of T-R cycles in shallower and higher number of T-R cycles in deeper bathymetry. Shallowest well has 3 T-R cycles in Baisakhi-Bhadasar and 2 T-R cycles in Pariwar, whereas deeper well has 4 T-R cycles in Baisakhi-Bhadasar and 8 T-R cycles in Pariwar Formation. The Maximum Flooding surfaces observed from the stratigraphy analysis indicate major shale break (high shale content). The study area is dominated by the alternation of shale and sand lithologies, which occurs in an approximate ratio of 70:30. A seismo-geological cross section has been prepared to understand the stratigraphic thickness variation and structural disposition of the strata. The formations are quite thick to the west, the thickness of which reduces as we traverse towards the east. The folded and the faulted strata indicated the compressional tectonics followed by the extensional tectonics. Our interpretation is supported with seismic up to second order sequence indicates - Late Jurassic sequence is a Highstand Systems Tract (Baisakhi - Bhadasar formations), and the Early Cretaceous sequence is Regressive to Lowstand System Tract (Pariwar Formation).

Keywords: Jaisalmer Basin, sequence stratigraphy, system tract, T-R cycle

Procedia PDF Downloads 130

Authors: Rajib Mia, Badam Singh Kushvah

Abstract:

In this present paper, we use the photogravitational version of the restricted three body problem (RTBP) in binary systems. In the photogravitational RTBP, an infinitesimal particle (dust grain) is moving under the gravitational attraction and radiation pressure from the two bigger primaries. The third particle does not affect the motion of two bigger primaries. The zero-velocity curves, zero-velocity surfaces and their projections on the plane are studied. We have used existing analytical method to solve the equations of motion. We have obtained the Lagrangian points in some binary stellar systems. It is found that mass reduction factor affects the Lagrangian points. The linear stability of Lagrangian points is studied and found that these points are unstable. Moreover, trajectories of the infinitesimal particle at the triangular points are studied.

Keywords: binary systems, Lagrangian points, linear stability, photogravitational RTBP, trajectories

Procedia PDF Downloads 248

Authors: Sari K. Ishii

Abstract:

This study considers a wider viewpoint to connect migration studies with questions about financial capitalism, which seeks cheap, disposable labour transnationally. This study offers insight into whether the current state of immigration acceptance contributes to stabilizing the aging society of the nation in the long term or merely fulfills the ephemeral requirements of industries. The analyses in this study focused on three aspects. First, it examined how many migrants in Japan joined the labour market. Second, it analyzed the number of migrants that are aging. Third, it determined the number of dependent migrants accepted through labour migrants. The study findings raise further questions for future empirical studies to verify the schema of financial capitalism through the lens of migration. The scheme of seeking cheap, disposable labour transnationally may result in the descendants of both locals and mobilized labour becoming more unstable than the prior generations.

Keywords: migration, aging society, low fertility rate, Japan

Procedia PDF Downloads 25

Authors: Navdeep Kaur

Abstract:

Corporate Social Responsibility is the process through which the organizations execute their philanthropic visions for social welfare. This paper considers the data of one Public Sector Bank–State Bank of India (SBI) and one Private Sector Bank-Industrial Credit and Investment Corporation of India (ICICI) from the year 2008 to 2016. The study is based on descriptive research design, and secondary data collected from the annual report of respective bank from website and different literature are reviewed. Least Square Method is used for estimating CSR spending for the financial year 2017-18. The analysis shows that these banks are making efforts for the implementation of CSR, but are not spending their 2% share of profits on CSR. There is a need for better CSR activities by the banks, which is possible by concentrating more on the prevailing social issues. The finding reveals that the percentage of profit after tax spends for CSR by SBI is more compare to ICICI. The estimated Spending for CSR for 2017-18 is also more in SBI as compared to ICICI.

Keywords: banking sector, corporate social responsibility in India, financial institution, public sector banks, SBI, ICICI

Procedia PDF Downloads 188

Authors: F. Waffo Tchuimmo, G. S. Kwandio Dongoua, C. U. Yves Mbono Samba, O. Dafounansou, L. Nana

Abstract:

The strength criterion is an important condition of great interest to guarantee the stability of the structural elements. The present work is based on the study of the free vibration of Euler’s Bernoulli column of equal strength in compression while considering its own weight and the axial load in compression and tension subjected to symmetrical boundary conditions. We use the differential quadrature method to investigate the first fifth naturals frequencies parameters of the column according to the different forms of geometrical sections. The results of this work give help in making a judicious choice of type of cross-section and a better boundary condition to guarantee good stability of this type of column in civil constructions.

Keywords: free vibration, equal strength, self-weight, tip force, differential quadrature method

Procedia PDF Downloads 122

Authors: Muhamad Iqbal Mubarak Faharul Azman, Azim Hilmy Mohd Yusof, Nur Azwin Ismail, Noer El Hidayah Ismail

Abstract:

Landslides and rock falls are the examples of environmental and engineering problems in Malaysia. There are various methods that can be applied for the environmental and engineering problems but geophysical methods are seldom applied as the main investigation technique. This paper aims to study the slope stability by using 2-D resistivity method at Jalan Tun Sardon and Sungai Batu, Pulau Pinang. These areas are considered as highly potential for unstable slope in Penang Island based on recent cases of rockfall and landslide reported especially during raining season. At both study areas, resistivity values greater than 5000 ohm-m are detected and considered as the fresh granite. The weathered granite is indicated by resistivity value of 750-1500 ohm-m with depth of < 14 meters at Sungai Batu area while at Jalan Tun Sardon area, the weathered granite with resistivity values of 750-2000 ohm-m is found at depth < 14 meter at distance 0-90 meter but at distance of 95-150 meter, the weathered granite is found at depth < 26 meter. Saturated zone is detected only at Sungai Batu with resistivity value <250 ohm-m at distance 100-120 meter. A fracture is detected at distance about 70 meter at Jalan Tun Sardon area. Unstable slope is expected to be affected by the weathered granite that dominates the subsurface of the study areas along with triggering factor such as heavy rainfall.

Keywords: 2-D resistivity, environmental issue, landslide, slope stability

Procedia PDF Downloads 220

Authors: Tatiana Marques Pessanha, Aurora Perez-Gramatges, Regina Sandra Veiga Nascimento

Abstract:

Emulsions are commonly used in applications involving oil/water dispersions, where handling of interfaces becomes a crucial aspect. The use of emulsion technology has greatly evolved in the last decades to suit the most diverse uses, ranging from cosmetic products and biomedical adjuvants to complex industrial fluids. The stability of these emulsions is influenced by factors such as the amount of oil, size of droplets and emulsifiers used. While commercial surfactants are typically used as emulsifiers to reduce interfacial tension, and therefore increase emulsion stability, these organic amphiphilic compounds are often toxic and expensive. A suitable alternative for emulsifiers can be obtained from the chemical modification of polysaccharides. Our group has been working on modification of polysaccharides to be used as additives in a variety of fluid formulations. In particular, we have obtained promising results using chitosan, a natural and biodegradable polymer that can be easily modified due to the presence of amine groups in its chemical structure. In this way, it is possible to increase both the hydrophobic and hydrophilic character, which renders a water-soluble, amphiphilic polymer that can behave as an emulsifier. The aim of this work was the synthesis of chitosan derivatives structurally modified to act as surfactants in stable oil-in-water. The synthesis of chitosan derivatives occurred in two steps, the first being the hydrophobic modification with the insertion of long hydrocarbon chains, while the second step consisted in the cationization of the amino groups. All products were characterized by infrared spectroscopy (FTIR) and carbon magnetic resonance (13C-NMR) to evaluate the cationization and hydrofobization degrees. These modified polysaccharides were used to formulate oil-in water (O:W) emulsions with different oil/water ratios (i.e 25:75, 35:65, 60:40) using mineral paraffinic oil. The formulations were characterized according to the type of emulsion, density and rheology measurements, as well as emulsion stability at high temperatures. All emulsion formulations were stable for at least 30 days, at room temperature (25°C), and in the case of the high oil content emulsion (60:40), the formulation was also stable at temperatures up to 100°C. Emulsion density was in the range of 0.90-0.87 s.g. The rheological study showed a viscoelastic behaviour in all formulations at room temperature, which is in agreement with the high stability showed by the emulsions, since the polymer acts not only reducing interfacial tension, but also forming an elastic membrane at the oil/water interface that guarantees its integrity. The results obtained in this work are a strong evidence of the possibility of using chemically modified polysaccharides as environmentally friendly alternatives to commercial surfactants in the stabilization of oil-in water formulations.

Keywords: emulsion, polymer, polysaccharide, stability, chemical modification

Procedia PDF Downloads 347

Authors: Hyu Sang Jo, Gyo Woo Lee

Abstract:

In this study, the evaluation of thermal stability of the micrometer-sized silica particle reinforced epoxy composite was carried out through the measurement of thermal expansion coefficient and Young’s modulus of the specimens. For all the specimens in this study from the baseline to those containing 50 wt% silica filler, the thermal expansion coefficients and the Young’s moduli were gradually decreased down to 20% and increased up to 41%, respectively. The experimental results were compared with filler-volume-based simple empirical relations. The experimental results of thermal expansion coefficients correspond with those of Thomas’s model which is modified from the rule of mixture. However, the measured result for Young’s modulus tends to be increased slightly. The differences in increments of the moduli between experimental and numerical model data are quite large.

Keywords: thermal stability, silica-reinforced, epoxy composite, coefficient of thermal expansion, empirical model

Procedia PDF Downloads 291