Search results for: global financial cycle

Authors: M. A. Meslem

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For precise geoid determination, we use a reference field to subtract long and medium wavelength of the gravity field from observations data when we use the remove-compute-restore technique. Therefore, a comparison study between considered models should be made in order to select the optimal reference gravity field to be used. In this context, two recent global geopotential models have been selected to perform this comparison study over Northern Algeria. The Earth Gravitational Model (EGM2008) and the Global Gravity Model (GECO) conceived with a combination of the first model with anomalous potential derived from a GOCE satellite-only global model. Free air gravity anomalies in the area under study have been used to compute residual data using both gravity field models and a Digital Terrain Model (DTM) to subtract the residual terrain effect from the gravity observations. Residual data were used to generate local empirical covariance functions and their fitting to the closed form in order to compare their statistical behaviors according to both cases. Finally, height anomalies were computed from both geopotential models and compared to a set of GPS levelled points on benchmarks using least squares adjustment. The result described in details in this paper regarding these two models has pointed out a slight advantage of GECO global model globally through error degree variances comparison and ground-truth evaluation.

Keywords: quasigeoid, gravity aomalies, covariance, GGM

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Authors: Shyam, G. N. Tiwari

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Energy matrices of flate plate water collectors partially covered by PV module have been estimated in the present study. Photovoltaic thermal (PVT) water collector assembly is consisting of 5 water collectors having 2 m^2 area which are partially covered by photovoltaic module at its lower portion (inlet) and connected in series. The annual overall thermal energy and exergy are computed by using climatic data of New Delhi provided by Indian Meteorological Department (IMD) Pune, India. The Energy payback time on overall thermal and exergy basis are found to be 1.6 years and 17.8 years respectively. For 25 years of life time of system the energy production factor and life cycle conversion efficiency are estimated to be 15.8 and 0.04 respectively on overall thermal energy basis whereas for the same life time the energy production factor and life cycle conversion efficiency on exergy basis are obtained as 1.4 and 0.001.

Keywords: overall thermal energy, exergy, energy payback time, PVT water collectors

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Authors: Nsubuga Bright Titus

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The resource curse is an unavoidable phenomenon among oil producing states in Africa. There is no oil production currently in Uganda although exploration projections set 2020 as the year of initial production. But as the exploration proceeds and Production Sharing Agreements (PSA) are negotiated, so does the anticipation for oil revenues. The Indigenous people of Bunyoro are claiming the right to their indigenous lands through the African Commission on Human and People’s Rights (ACHPR) of the African Union. They urge the commission to investigate the government of Uganda on violations of their human rights. In this paper, oil as a resource curse is examined through the Dutch disease. Regional and global entanglements, as well as the contestation between the indigenous Bunyoro group and the oil industry in Uganda is explored. The paper also demonstrates that oil as a local possibility and national reality has propelled anxiety about oil revenues among various, local actors, State actors, regional and global actors.

Keywords: Entanglements, Extractive resources, Framing, web of relations

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Authors: Manmeet Kaur, Madhu Vij

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The Board of Directors in a firm performs the primary role of an internal control mechanism. This Study seeks to understand the relationship between internal governance and performance of banks in India. The research paper investigates the effect of board structure (proportion of nonexecutive directors, gender diversity, board size and meetings per year) on the firm performance. This paper evaluates the impact of corporate governance mechanisms on bank’s financial performance using panel data for 28 listed banks in National Stock Exchange of India for the period of 2008-2014. Returns on Asset, Return on Equity, Tobin’s Q and Net Interest Margin were used as the financial performance indicators. To estimate the relationship among governance and bank performance initially the Study uses Pooled Ordinary Least Square (OLS) Estimation and Generalized Least Square (GLS) Estimation. Then a well-developed panel Generalized Method of Moments (GMM) Estimator is developed to investigate the dynamic nature of performance and governance relationship. The Study empirically confirms that two-step system GMM approach controls the problem of unobserved heterogeneity and endogeneity as compared to the OLS and GLS approach. The result suggests that banks with small board, boards with female members, and boards that meet more frequently tend to be more efficient and subsequently have a positive impact on performance of banks. The study offers insights to policy makers interested in enhancing the quality of governance of banks in India. Also, the findings suggest that board structure plays a vital role in the improvement of corporate governance mechanism for financial institutions. There is a need to have efficient boards in banks to improve the overall health of the financial institutions and the economic development of the country.

Keywords: board of directors, corporate governance, GMM estimation, Indian banking

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Authors: Jun Ming Moey, Zhiyaun Chen, David Nicholson

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Bad actors are often hard to detect in data that imprints their behaviour patterns because they are comparatively rare events embedded in non-bad actor data. An unsupervised machine learning framework is applied here to detect bad actors in financial crime datasets that record millions of transactions undertaken by hundreds of actors (<0.01% bad). Specifically, the framework combines ‘shallow’ (PCA, Isolation Forest) and ‘deep’ (Autoencoder) methods to detect outlier patterns. Detection performance analysis for both the individual methods and their combination is reported.

Keywords: detection, machine learning, deep learning, unsupervised, outlier analysis, data science, fraud, financial crime

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Authors: Suleiman Ahmed Badayi

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Corporate governance literature is very wide and involves several empirical studies conducted on the relationship between board structure, composition and firm performance. The separation of ownership and control in organizations were aimed at reducing the losses suffered by the investors in the event of financial scandals. This paper reviewed the theoretical and empirical literature on the relationship between board composition and its impact on firm performance. The findings from the studies provide different results while some are of the view that board structure is related to firm performance, many empirical studies indicates no relationship. However, others found a U-shape relationship between firm performance and board structure. Therefore, this study argued that board structure is not much significant to determine the financial performance of a firm.

Keywords: board structure, composition, firm performance, corporate governance

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Authors: Leonie Jooste

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The main purpose of this article is to explore the ethical values of accounting students at Universities and Business Managers. Financial fraud (earnings management) is continuing to exist and published in literature and social media. However, irrespective of extensive publication, and academic research, financial fraud is still happening or still being committed. The student of today may be the manager in the future. In a study by Bruns and Merchant, the authors found that the morality of short-term earnings management was of little concern to researchers and accounting practitioners. However, in the light of increased financial frauds and failures, new and increased emphasis has been placed on the importance of the concepts of earnings quality, earnings management practices, and the inclusion of business ethics in accounting syllabi. This study uses a quantitative analysis related to the Bruns and Merchant survey of accounting students. 59 accounting students in the MENA area were surveyed in 2022 to measure their ethical values regarding earning management practices in organisations. The results of this survey were compared the surveys in 2013 to determine if courses in business ethics offered at the university influenced the perceptions of students on unethical behaviour in business practices. For the data analysis, the mean values and significant differences were calculated and compared. Overall, the results showed that there was hardly any significant difference between the two surveys.

Keywords: ethics, earnings management, corporate social responsibility, business courses.

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Authors: Norashikin Ismail, Nadia Anridho

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Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

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Authors: Marcin Adamczak

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The growth of Chinese film market and its dynamic incomparable to any other historical phenomenon has already made China the second world market and potential future leader in 2-3 years period. The growing power of Chines box-office and its future prospects is then the crucial and potentially disturbing factor for persistence of global Hollywood reality. The paper is based on market statistical data. The main findings of the analysis are defining of essential obstacles for the development of Chinese market and its foreign expansion. However, the new strategies employed by the industry (acquisitions of cinema chains abroad, blockbuster made with the involvement of figures from Hollywood star system, coproduction ties within Pacific basin) could be a successful remedy for current shortcomings. The main factor for development will be wider economical framework and maintenance of growth pace. The future state of Chinese film market will be one of the main factors shaping global film culture and film market in following decades of XXI century.

Keywords: production studies, film market, Chinese film market, distribution

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Authors: Juan Pedro Aznar Alarcon, Josep Maria Sayeras Maspera

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Airbnb and other similar platforms are offering a near substitute to the traditional accommodation service supplied by the hotel sector. In this context, hotels can try to compete by offering higher quality and additional services, which imply the need for new investments or try to compete by reducing prices. The theoretical model presented in this paper analyzes the best response using a sequential game theory model. The main conclusion is that due to the financial constraints that small and medium hotels have these hotels have reduced prices whereas hotels that belong to international groups or have an easy access to financial resources have increased their investment to increase the quality of the service provided. To check the validity of the theoretical model financial data from Barcelona, London and Paris hotels have been used analyzing profitability, quality of the service provided, the investment propensity and the evolution of the gross profit. The model and the empirical data provide the base for some industrial policy in the hospitality industry. To address the extra cost that small hotels in Europe have to face compared by bigger firms would help to improve the level of quality provided and to some extent have positive externalities in terms of job creation and an increasing added value for the industry.

Keywords: Airbnb, profitability, hospitality industry, game theory

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Authors: Hideaki Endo, Mika Goto

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The global outbreak of the COVID-19 pandemic has seriously affected railway businesses. The number of railway passengers decreased due to the decline in the number of commuters and business travelers to avoid crowded trains and a sharp drop in inbound tourists visiting Japan. This has affected not only railway businesses but also related businesses, including hotels, leisure businesses, and retail businesses at station buildings. In 2021, the companies were divided into profitable and loss-making companies. This division suggests that railway companies, particularly loss-making companies, needed to decrease operational inefficiency. To measure the impact of COVID-19 and discuss the sustainable management strategies of railway companies, we examine the cost inefficiency of Japanese listed railway companies by applying stochastic frontier analysis (SFA) to their operational and financial data. First, we employ the stochastic frontier cost function approach to measure inefficiency. The cost frontier function is formulated as a Cobb–Douglas type, and we estimated parameters and variables for inefficiency. This study uses panel data comprising 26 Japanese-listed railway companies from 2005 to 2020. This period includes several events deteriorating the business environment, such as the financial crisis from 2007 to 2008 and the Great East Japan Earthquake of 2011, and we compare those impacts with those of the COVID-19 pandemic after 2020. Second, we identify the characteristics of the best-practice railway companies and examine the drivers of cost inefficiencies. Third, we analyze the factors influencing cost inefficiency by comparing the profiles of the top 10 railway companies and others before and during the pandemic. Finally, we examine the relationship between cost inefficiency and the implementation of efficiency measures for each railway company. We obtained the following four findings. First, most Japanese railway companies showed the lowest cost inefficiency (most efficient) in 2014 and the highest in 2020 (least efficient) during the COVID-19 pandemic. The second worst occurred in 2009 when it was affected by the financial crisis. However, we did not observe a significant impact of the 2011 Great East Japan Earthquake. This is because no railway company was influenced by the earthquake in this operating area, except for JR-EAST. Second, the best-practice railway companies are KEIO and TOKYU. The main reason for their good performance is that both operate in and near the Tokyo metropolitan area, which is densely populated. Third, we found that non-best-practice companies had a larger decrease in passenger kilometers than best-practice companies. This indicates that passengers made fewer long-distance trips because they refrained from inter-prefectural travel during the pandemic. Finally, we found that companies that implement more efficiency improvement measures had higher cost efficiency and they effectively used their customer databases through proactive DX investments in marketing and asset management.

Keywords: COVID-19 pandemic, stochastic frontier analysis, railway sector, cost efficiency

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Authors: Ujjwala Bhand, Mridula Goel

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Global Competitiveness Index (GCI) prepared by World Economic Forum has become a benchmark in studying the competitiveness of countries and for understanding the factors that enable competitiveness. Innovation is a key pillar in competitiveness and has the unique property of enabling exponential economic growth. This paper attempts to analyze how the pillars comprising the Global Competitiveness Index affect innovation and whether GDP growth can directly affect innovation outcomes for a country. The key objective of the study is to identify areas on which governments of developing countries can focus policies and programs to improve their country’s innovativeness. We have compiled a panel data set for top innovating countries and large emerging economies called BRICS from 2007-08 to 2014-15 in order to find the significant factors that affect innovation. The results of the regression analysis suggest that government should make policies to improve labor market efficiency, establish sophisticated business networks, provide basic health and primary education to its people and strengthen the quality of higher education and training services in the economy. The achievements of smaller economies on innovation suggest that concerted efforts by governments can counter any size related disadvantage, and in fact can provide greater flexibility and speed in encouraging innovation.

Keywords: innovation, global competitiveness index, BRICS, economic growth

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Authors: Faustina Masocha

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This study sought to determine if the Covid-19 pandemic played a disruptive role in the signalling effect of dividend increases for the Top 40 companies listed on the Johannesburg Stock Exchange. With the use of Event Study Methodologies, it was found that dividend increases that were announced in the 2018 and 2019 financial years resulted in Cumulative Abnormal Returns (CARs) that were significantly different from zero, as confirmed by a p-value of 0,0300. This resulted in the conclusion that, under normal circumstances, dividend increases follow the precepts outlined in signalling theories which indicate that the announcement of dividend increases sent positive signals about the expected financial performance of a company. To prove the notion that Covid-19 plays a disruptive role on the signalling hypothesis, it was found from both parametric and non-parametric tests of significance that CARs related to dividend increases that were announced during the 2020 and 2021 financial years, when the Covid-19 pandemic was at its peak, were not significantly different from zero. Therefore, although the dividend increases still resulted in some CARs, such CARs were not statistically different from zero to confirm the signalling hypothesis. A p-value of 0.9830 from parametric t-tests and a p-value of 0.8971 from the Wilcoxon signed-rank test were used as a gauge that led to the conclusion that Covid-19 plays a disruptive effect on the signalling process of dividend increases.

Keywords: cumulative abnormal returns, dividend increases, event study methodology, signalling

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Authors: Satinder Bhatia

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Limited Liability Partnerships (LLPs) was a concept introduced in India in 2009. Ever since then, there has been a fierce growth in the number of organizations registered as LLPs outpacing the number of registrations as private companies. Among other benefits extended to LLPs, the audit being mandated only for LLPs having a turnover of at least Rs 40 lakhs or capital contribution of Rs 25 lakhs, has been a major attraction. This has resulted in only about 10 per cent of LLPs coming under mandatory audit. Even for such companies, the accounting standards to be followed in the preparation of financial statements have not been specified. The Revised Indian Accounting Standards (Revised IndAS) which are aligned with IFRS to a great extent, may apply to LLPs only under limited conditions. Thus, the veracity of even the audited financial statements of LLPs can be questioned. If in future, these LLPs would like to list on a stock exchange to raise capital, there can be serious hurdles if investors do not find the financial statements to be reliable and consistent. LLPs are generally governed by country-specific rules in the area of accounts and audit. Thus, such rules vary across UK, EU and the USA. Some countries have adopted the IFRS for SMEs and since LLPs can be referred to as SMEs; they would come under the ambit of these IFRS provisions. Besides, as the scope of audit widens to cover qualitative information in addition to quantitative data, audit of LLPs has now acquired a new meaning and a new urgency as demands for at least limited purpose audits are arising from different stakeholders including lenders, suppliers, customers and joint venture partners.

Keywords: audit disclosures, audit quality, guidance for SMEs, non-audit services

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Authors: Saule Shazhanbayeva, Denise van der Merwe

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Study hypothesis: Nazarbayev Intellectual School of Kyzylorda’s Biology teachers can use STEM-integrated learning to improve students' problem-solving ability and responsibility as global citizens. The significance of this study is to indicate how the use of STEM integrative learning during Biology lessons could contribute to forming globally-minded students who are responsible community members. For the purposes of this study, worldview is defined as a view that is broader than the country of Kazakhstan, allowing students to see the significance of their scientific contributions to the world as global citizens. The context of worldview specifically indicates that most students have never traveled outside of their city or region within Kazakhstan. In order to broaden student understanding, it is imperative that students are exposed to different world views and contrasting ideas within the educational setting of Biology as the science being used for the research. This exposure promulgates students understanding of the significance they have as global citizens alongside the obligations which would rest on them as scientifically minded global citizens. Integrative learning should be Biological Science - with Technology and engineering in the form of problem-solving, and Mathematics to allow improved problem-solving skills to develop within the students of Nazarbayev Intellectual School (NIS) of Kyzylorda. The school's vision is to allow students to realise their role as global citizens and become responsible community members. STEM allows integrations by combining four subject skills to solve topical problems designed by educators. The methods used are based on qualitative analysis: for students’ performance during a problem-solution scenario; and Biology teacher interviews to ascertain their understanding of STEM implementation and willingness to integrate it into current lessons. The research indicated that NIS is ready for a shift into STEM lessons to promote globally responsible students. The only additional need is for proper STEM integrative lesson method training for teachers.

Keywords: global citizen, STEM, Biology, high-school

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Authors: Arpita Saha, Apoorv Jain, Satish Chandra, Indrajit Ghosh

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Level of service at a signal controlled intersection is directly measured from the delay. Similarly, saturation flow rate is a fundamental parameter to measure the intersection capacity. The present study calculates vehicle arrival rate, departure rate, and queue length for every five seconds interval in each cycle. Based on the queue lengths, the total delay of the cycle has been calculated using Simpson’s 1/3rd rule. Saturation flow has been estimated in terms of veh/hr of green/lane for every five seconds interval of the green period until at least three vehicles are left to cross the stop line. Vehicle composition shows an immense effect on total delay and saturation flow rate. The increase in two-wheeler proportion increases the saturation flow rate and reduces the total delay per vehicle significantly. Additionally, an increase in the heavy vehicle proportion reduces the saturation flow rate and increases the total delay for each vehicle.

Keywords: delay, saturation flow, signalised intersection, vehicle composition

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Authors: Enayatollah Yazdani

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In the post-Cold War era, the world is facing a new emerging global order with the rise of multiple actors in the international arena. China, as a rising global power, has great leverage in internal relations. In particular, during the last two decades, China has rapidly transformed its economy into a global leader in advanced technologies. As a rising power and as one of the two major founding members of the Shanghai Cooperation Organization (SCO), China has tried to use this regional organization, which has the potential to become an important political and security organization of the major states located in the vast Eurasian landmass, for its “go global” strategy. In fact, for Beijing, the SCO represents a new and unique cooperation model, reflecting its vision of a multipolar world order. China has used the SCO umbrella as a multilateral platform to address external threats posed by non-state actors on its vulnerable western border; to gain a strong economic and political foothold in Central Asia without putting the Sino-Russian strategic partnership at risk; and to enhance its energy security through large-scale infrastructure investment in, and trade with, the Central Asian member states. In other words, the SCO is one of the successful outcomes of Chines foreign policy in the post-Cold War era. The expansion of multilateral ties all over the world by dint of pursuing institutional strategies as SCO identifies China as a more constructive power. SCO became a new model of cooperation that was formed on the remains of collapsed Soviet system and predetermined China's geopolitical role in the region. As the fast developing effective regional mechanism, SCO now has more of an external impact on the international system and forms a new type of interaction for promoting China's grand strategy of 'peaceful rise.' This paper aims to answer this major question: How the Chinese government has manipulated the SCO for its foreign policy and global and regional influence? To answer this question, the main discussion is that with regard to the SCO capabilities and politico-economic potential, this organization has been used by China as a platform to expand influence beyond its borders.

Keywords: China, the Shanghai Cooperation Organization (SCO), Central Asia, global policy, foreign policy

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Authors: April Mattix Foster, Kathleen A. Ramos, Sarah Rich, Rebecca Eisenberg, Lisa Dornan

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As the number of children from immigrant and refugee backgrounds in our schools continues to grow, the need to cultivate antiracist educators is crucial. This e-poster outlines the design of online university course modules, funded by the Longview Foundation, designed to support pre- and in-service educators in developing great awareness of, empathy for, and advocacy with immigrant and refugee students in the classroom. These modules guide educators in using children’s and adolescent literature that highlights the lived experiences of immigrant and refugee families, utilizing scaffolded reading and thinking protocols as a model for encouraging empathy and global competence in young learners. Educators reported several benefits of using the modules and curated literature, including greater awareness of the significance of diverse literature, deeper self-reflection and empathy, and stronger connections to classroom practice—ultimately benefiting both educators and their students.

Keywords: antiracist, children’s literature, global competence, empathy, self-reflection

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Authors: Mohammad Hosein Panahi, Naser Yazdani

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we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

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Authors: Liqiang Duan, Ma Jingkai, Lv Zhipeng, Haifan Cai

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The integrated solar combined cycle (ISCC) system has a series of advantages such as increasing the system power generation, reducing the cost of solar power generation, less pollutant and CO₂ emission. In this paper, the parabolic trough collectors with direct steam generation (DSG) technology are considered to replace the heat load of heating surfaces in heat regenerator steam generation (HRSG) of a conventional natural gas combined cycle (NGCC) system containing a PG9351FA gas turbine and a triple pressure HRSG with reheat. The detailed model of the NGCC system is built in ASPEN PLUS software and the parabolic trough collectors with DSG technology is modeled in EBSILON software. ISCC-DSG systems with the replacement of single, two, three and four heating surfaces are studied in this paper. Results show that: (1) the ISCC-DSG systems with the replacement heat load of HPB, HPB+LPE, HPE2+HPB+HPS, HPE1+HPE2+ HPB+HPS are the best integration schemes when single, two, three and four stages of heating surfaces are partly replaced by the parabolic trough solar energy collectors with DSG technology. (2) Both the changes of feed water flow and the heat load of the heating surfaces in ISCC-DSG systems with the replacement of multi-stage heating surfaces are smaller than those in ISCC-DSG systems with the replacement of single heating surface. (3) ISCC-DSG systems with the replacement of HPB+LPE heating surfaces can increase the solar power output significantly. (4) The ISCC-DSG systems with the replacement of HPB heating surfaces has the highest solar-thermal-to-electricity efficiency (47.45%) and the solar radiation energy-to-electricity efficiency (30.37%), as well as the highest exergy efficiency of solar field (33.61%).

Keywords: HRSG, integration scheme, parabolic trough collectors with DSG technology, solar power generation

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Authors: Snehalata Tembhurne

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Introduction: A healthy menstrual cycle is a sign of women’s sound health.Various variables may influence the length and regularity of menstrual cycle.Studies have revealed that menstrual cycle abnormalities may be associated with psychological stress,lack of physical exercise, alteration in body composition,endocrine disturbances,higher estrogen levels as seen in obese females.Hence there is an urgent need to find out the relationship between variations in body mass composition(BMI & body fat%) with menstrual abnormalities like primary dysmenorrhoea. Aim: To find out the relationship between body mass composition and primary dysmenorrhea. Objectives: 1.To check whether there is any association between body mass index and primary dysmenorrhoea.2.To check whether there is any association between body fat percentage and primary dysmenorrhoea. NULL HYPOTHESES-There is no relationship between body mass composition and primary dysmenorrhea. Hypothesis: There exists a relationship between body mass composition and primary dysmenorrhea. Materials and Methods: The study was conducted over a period of 6 months with 90 samples selected on random basis. The procedure was explained to the participant and a written consent was taken thereafter. The participant was made to stand on the BODY COMPOSITION SCANNING MONITOR, which scanned the physical profile of the participant (height, weight, BMI, body fat percentage and visceral fat).Thereafter, the candidate was asked about her menstrual irregularities and was asked to grade her level of dysmenorrhoea (if present) using the Verbal Dimensional Dysmenorrhea Scale. Results: Chi square test of association was used to find out the association between body mass composition(body mass index,body fat percentage) and primary dysmenorrhea.The chi-square value for association between body mass index and primary dysmenorrhea was 38.63 p<0.001 which was statistically significant.The chi-square value for the association of body fat % & primary dysmenorrhea was 30.09,p<0.001which was statistically significant. Conclusion: Study shows that there exists a significant relationship between body mass composition and primary dysmenorrhea and as the value of Body mass index and body fat percentages goes on increasing in females, the severity of primary dysmenorrhea also increases.

Keywords: body mass index, body composition screening monitor, primary dysmenorrhea, verbal dimensional dysmenorrhea scale

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Authors: Rupali Chaudhary

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Shakespeare has been widely revisited by dramatists, critics, filmmakers and scholars around the globe. Shakespeare's kaleidoscopic work has been borrowed and redesigned into resonant patterns by artists, thus weaving myriad manifestations to pick from. Along with adaptation into wholly verbal medium (e.g., translations) the practice of indigenization through performing arts has played a great role in amplifying the reach of plays. The proliferation of Shakespeare's oeuvre commenced with the spread of colonialism itself. The plays illustrating the core values of Western tradition were introduced in the colonies. Therefore, the colonial domination extended to cultural domination. The plays were translated and adapted by the locals at times as it is and sometimes intermingled with the altered landscape and culture. The present paper discusses the global dimensions of Shakespearean cinema along with the historical cinematic shift from silent era to spoken dialogue in multiple languages. The methodology followed is descriptive in nature, and related information is availed from related literature, i.e., books, research articles and films. America and Europe dominated the silent era Shakespearean film production, thereby giving the term 'global' a less broad meaning. Five nations that dominated silent Shakespearean cinema were the United States, England, Italy, France, and Germany. Gradually the work of the exemplary figure with artistic and literary greatness surpassed the boundaries of the colonies and became a global legacy. Presently apart from English speaking nations Shakespearean films have been shot or produced in many of non-Anglophone locales. The findings indicate that when discussing about global dimensions of Shakespearean cinema various factors can be considered: involvement of actors and directors of foreign origin, transportability and universal comprehensibility of visual imagery across geographical borders, commodification of art or West's use of it as a tool of cultural hegemony or promotion of international amity, propagation of interculturalism through individual director's cultural translations and localization of Western art. Understanding of Shakespeare as a global export also depends on how an individual Shakespearean film works. Shakespeare's global appeal for cinema does not reside alone in his exquisite writings, distinctive characters, the setting, the story and the plots that have nurtured cinema since the medium's formative years. Shakespeare's global cinematic appeal is present in the spirit of cinema itself, i.e., the moving images capturing human behaviour and emotions that the plays invoke in audiences.

Keywords: adaptation, global dimensions, Shakespeare, Shakespearean cinema

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Authors: Sajjad Shukur Ullah, Syed Shujaa Safdar Gardezi

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Road infrastructure plays a vital role in the economic activities of any economy. Besides derived benefits from these facilities, the utilization of extensive energy resources, fuels, and materials results in a negative impact on the environment in terms of carbon footprint; carbon footprint is the overall amount of greenhouse gas (GHG) generated from any action. However, this aspect of environmental impact from road structure is not seriously considered during such developments, thus undermining a critical factor of sustainable development, which usually remains unaddressed, especially in developing countries. The current work investigates the carbon footprint impact of a small road project (0.8 km, dual carriageway) initiated for traffic management in an urban centre. Life cycle assessment (LCA) with boundary conditions of cradle to the site has been adopted. The only construction phase of the life cycle has been assessed at this stage. An impact of 10 ktons-CO2 (6260 ton-CO2/km) has been assessed. The rigid pavement dominated the contributions as compared to a flexible component. Among the structural elements, the underpass works shared the major portion. Among the materials, the concrete and steel utilized for various structural elements resulted in more than 90% of the impact. The earth-moving equipment was dominant in operational carbon. The results have highlighted that road infrastructure projects pose serious threats to the environment during their construction and which need to be considered during the approval stages. This work provides a guideline for supporting sustainable development that could only be ensured when such endeavours are properly assessed by industry professionals and decide various alternative environmental conscious solutions for the future.

Keywords: construction waste management, kiloton, life cycle assessment, rigid pavement

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: R. Zh. Abdukerim, D. A. Absatarova, A. T. Aitbayeva, M. A. Askarova, S. T. Turuspekova, E. V. Zhunus

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The resilience of agricultural systems at the global level to climate change and their ability to recover determines the prospects for food security on a global scale. Since climate change will lead to changes in temperatures, precipitation, weather conditions and mass outbreaks of harmful organisms. The issue of adaptation to climate change in the agricultural sector is one of the priorities of Kazakhstan's Development Strategy for the period up to 2050. Since Kazakhstan is an agroindustrial country in which agriculture plays an important economic role. Kazakhstan is the largest potato producer in Central Asia, accounting for about 60% of the total vegetable production, which determines the urgency of solving the problem of increasing yields and quality. The control harmful organisms plays an important role in solving this issue. Due to the fact that climate change can lead to an increase in the number of harmful organisms and, accordingly, to a complete loss of harvest.

Keywords: potato pests, Colorado potato beetle, soil pests, global climate change

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Authors: Omolade Adeleke, Jonathan Olusegun Famoroti

Abstract:

This study empirically examined the monetary policy and economic growth in the classical cycles in 8 member countries of the West African Economic and Monetary Union (WAEMU), using the Markov switching model for the Two-phase Regime, covering the period 1980Q1 to 2020Q4. Our estimates suggest that these countries demonstrate to have similar business cycles, and the economies stay more in an expansion regime than a recession regime. The result further shows that the union has an average duration period of 3.1 and 15.9 quarters for contraction and expansion periods, respectively. The business cycle duration, on average, suggests 19 quarters, varying from country to country. Therefore, the formulation of policies that can enhance aggregate demand by member countries in the union is an antidote for recession and is necessary to drive the economy into equilibrium. Also, a low-interest rate and reduced inflation rate would ginger long-run economic growth.

Keywords: monetary policy, business cycle, economic growth, Markov switching

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Authors: Luisa Kynast

Abstract:

It is obvious that buildings and infrastructure are highly impacted by climate change (CC). Both, design and material of buildings need to be resilient to weather events in order to shelter humans, animals, or goods. As well as buildings and infrastructure are exposed to weather events, the construction process itself is generally carried out outdoors without being protected from extreme temperatures, heavy rain, or storms. The production process is restricted by technical limitations for processing materials with machines and physical limitations due to human beings (“outdoor-worker”). In future due to CC, average weather patterns are expected to change as well as extreme weather events are expected to occur more frequently and more intense and therefore have a greater impact on production processes and on the construction businesses itself. This research aims to examine this impact by analyzing an association between responses to CC and financial performance of businesses within the construction industry. After having embedded the above depicted field of research into the resource dependency theory, a literature review was conducted to expound the state of research concerning a contingent relation between climate change adaptation measures (CCAM) and corporate financial performance for construction businesses. The examined studies prove that this field is rarely investigated, especially for construction businesses. Therefore, reports of the Carbon Disclosure Project (CDP) were analyzed by applying content analysis using the software tool MAXQDA. 58 construction companies – located worldwide – could be examined. To proceed even more systematically a coding scheme analogous to findings in literature was adopted. Out of qualitative analysis, data was quantified and a regression analysis containing corporate financial data was conducted. The results gained stress adaptation measures as a response to CC as a crucial proxy to handle climate change impacts (CCI) by mitigating risks and exploiting opportunities. In CDP reports the majority of answers stated increasing costs/expenses as a result of implemented measures. A link to sales/revenue was rarely drawn. Though, CCAM were connected to increasing sales/revenues. Nevertheless, this presumption is supported by the results of the regression analysis where a positive effect of implemented CCAM on construction businesses´ financial performance in the short-run was ascertained. These findings do refer to appropriate responses in terms of the implemented number of CCAM. Anyhow, still businesses show a reluctant attitude for implementing CCAM, which was confirmed by findings in literature as well as by findings in CDP reports. Businesses mainly associate CCAM with costs and expenses rather than with an effect on their corporate financial performance. Mostly companies underrate the effect of CCI and overrate the costs and expenditures for the implementation of CCAM and completely neglect the pay-off. Therefore, this research shall create a basis for bringing CC to the (financial) attention of corporate decision-makers, especially within the construction industry.

Keywords: climate change adaptation measures, construction businesses, financial implication, resource dependency theory

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Authors: Shashwat Gangwal

Abstract:

This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

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Authors: Juan A. Arzate, Funda C. Ertem, M. Nicolas Cruz-Bournazou, Peter Neubauer, Stefan Junne

Abstract:

— One of the biggest challenges the world faces today is global warming that is caused by greenhouse gases (GHGs) coming from the combustion of fossil fuels for energy generation. In order to mitigate climate change, the European Union has committed to reducing GHG emissions to 80–95% below the level of the 1990s by the year 2050. Renewable technologies are vital to diminish energy-related GHG emissions. Since water and biomass are limited resources, the largest contributions to renewable energy (RE) systems will have to come from wind and solar power. Nevertheless, high proportions of fluctuating RE will present a number of challenges, especially regarding the need to balance the variable energy demand with the weather dependent fluctuation of energy supply. Therefore, biogas plants in this content would play an important role, since they are easily adaptable. Feedstock availability varies locally or seasonally; however there is a lack of knowledge in how biogas plants should be operated in a stable manner by local feedstock. This problem may be prevented through suitable control strategies. Such strategies require the development of convenient mathematical models, which fairly describe the main processes. Modelling allows us to predict the system behavior of biogas plants when different feedstocks are used with different loading rates. Life cycle assessment (LCA) is a technique for analyzing several sides from evolution of a product till its disposal in an environmental point of view. It is highly recommend to use as a decision making tool. In order to achieve suitable strategies, the combination of a flexible energy generation provided by biogas plants, a secure production process and the maximization of the environmental benefits can be obtained by the combination of process modelling and LCA approaches. For this reason, this study focuses on the biogas plant which flexibly generates required energy from the co-digestion of maize, grass and cattle manure, while emitting the lowest amount of GHG´s. To achieve this goal AMOCO model was combined with LCA. The program was structured in Matlab to simulate any biogas process based on the AMOCO model and combined with the equations necessary to obtain climate change, acidification and eutrophication potentials of the whole production system based on ReCiPe midpoint v.1.06 methodology. Developed simulation was optimized based on real data from operating biogas plants and existing literature research. The results prove that AMOCO model can successfully imitate the system behavior of biogas plants and the necessary time required for the process to adapt in order to generate demanded energy from available feedstock. Combination with LCA approach provided opportunity to keep the resulting emissions from operation at the lowest possible level. This would allow for a prediction of the process, when the feedstock utilization supports the establishment of closed material circles within a smart bio-production grid – under the constraint of minimal drawbacks for the environment and maximal sustainability.

Keywords: AMOCO model, GHG emissions, life cycle assessment, modelling

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Authors: Abdelmaguid Ramzy, Mohamed Bahaa

Abstract:

Introduction: The effects of ovarian endometrioma on fertility outcomes with IVF have been always related to poor outcomes. Objective: To evaluate the effect of unilateral unoperated ovarian endometrioma < 2cm on the number of developing follicles and compare them with the contralateral ovary as a control. Design: Retrospective case control study. Setting: KasrEl-Aini IVF center. Patient(s): We studied 32 women with unilateral endometrioma who underwent their first IVF cycle. Methods: 32 Patients aged between 20-35 years selected for IVF who were diagnosed with one unilateral endometrioma (diameter <2 cm) and who did not undergo previous ovarian surgery were retrospectively identified. The number of follicles > 17 mm during folliculometry on the day of HCG trigger in the ovary that contained endometrioma were compared with those from the contralateral ovary. They were all hyperstimulated using long protocol with (225-300 IU) gonadotrophins. Primary outcome: The number of follicles > 17 mm during folliculometry on the day of HCG trigger. Result(s): The mean ± SD age, Day 3 serum FSH and LH were 27± 3.7 years, 5.8 ± 1.6 IU/ml and 4.5 ± 1.7 IU/ml respectively. There was no significant difference in the number of follicles > 17 mm on the day of HCG trigger in the ovary that contained endometrioma (4.4 ±2.5) and in the opposite ovary (4.5 ± 2.8) (P= 0.48). Conclusion: The presence of ovarian endometrioma in a controlled ovarian hyperstimulation cycle for IVF treatment is not associated with a reduced number of follicles > 17 mm during folliculometry on the day of HCG trigger.

Keywords: endometrioma, folliculometry, hyperstimulation, fertility

Procedia PDF Downloads 213