Search results for: financial budget

Authors: Swathi Sampath, V. Kalaichelvi

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The assessment of the risk posed by a borrower to a lender is one of the common problems that financial institutions have to deal with. Consumers vying for a mortgage are generally compared to each other by the use of a number called the Credit Score, which is generated by applying a mathematical algorithm to information in the applicant’s credit report. The higher the credit score, the lower the risk posed by the candidate, and the better he is to be taken on by the lender. The objective of the present work is to use fuzzy logic and linguistic rules to create a model that generates Credit Scores.

Keywords: credit scoring, fuzzy logic, mortgage, risk assessment

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Authors: Risikat Oladoyin S. Dauda, Onyebuchi Iwegbu

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This study investigates the response of human development outcomes to selected macroeconomic indicators in Nigeria. Human development outcomes is measured by human development index while the selected macroeconomic variables are inflation rate, real interest rate, government capital expenditure, real exchange rate, current account balance, and savings. Structural Vector Autoregression (SVAR) technique is employed in examining the response of human development index to the macroeconomic shocks. The result from the forecast error variance decomposition and Impulse-Response analysis reveals that fiscal policy (government capital expenditure) shock is the greatest determinant of human development outcomes. This result reiterates the role which the government plays in improving the welfare of the citizenry. The fiscal policy tool is pivotal in human development which comes in the form of investment in education, health, housing, and infrastructure. Further conclusion drawn from this study is that human development outcome positively and significantly responds to shocks from real interest rate, a monetary policy transmission variable and is felt greatly in the short run period. The policy implication of this study is that if capital budget implementation falls below expectations, human development will be engendered. Hence, efforts should be made to ensure that full implementation and appraisal of government capital expenditure is taken sacrosanct as any shock from such plan, engenders human development outcome.

Keywords: human development outcome, macroeconomic outcomes, structural vector autoregression, SVAR

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Authors: Thevaranchany Sivaskaran

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Women entrepreneurs are the key players in the society and their contributions is highly highlighted to enhance economic stability in the country. In Sri Lanka, especially in North and East provinces people badly affected by war. Most of them are widows and women headed families. Due to this changing environment, Educational opportunities, and the support of NGO’s Most of the women have started their business and become entrepreneurs. Even though existing family setup and social setup entrepreneurial women are overburdened and difficult to balance their business and family roles. The research has been conducted on the experiences of women entrepreneurs with the family role support and work-life balance within the small and micro- enterprise sector in Jaffna, Srilanka. This study aims to identify that what extent the role of family support will be the tool to balancing work and life effectively and, secondly, the main challenges they face in achieving work-life balance. This is done by drawing on literatures including those on work-life balance, small-and micro enterprises, and entrepreneurship theories. To find out this objective, the data were collected from 50 entrepreneurs among the members of Jaffna women chamber in each GS division basis (cluster random sampling). A qualitative methodological technique and semi-structured interviews were used to collect the data for the case study on these entrepreneurs. The results indicate that the majority of entrepreneurs do not enjoy a sense of work-life balance because most of them are women headed family and they need to work hard to generate financial profit for the benefit of family. The motivation for them to work in this way is to provide basic needs. Results confirmed for others that support of husbands is very important. Mostly, emotional support (belief and empowerment) is exposed; however, getting financial contribution seems to be highly appreciated. More responsibilities which spouses were ready to take over regarding the home responsibilities (that is, childcare) should also not be neglected in the system of support to their entrepreneurial wives. Although, more important for all, women with children appreciated other members and spouses help and assistance to a higher extent. Results showed that majority of women who started their own business feel that in the first year of ope-ration the emotional support of family members was more important.

Keywords: family support, work life balance, women entrepreneurs, Jaffna District, Sri Lanka

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Authors: Fatemeh Rouhi, Hadi Nassiri

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Earning forecast is a key element in economic decisions but there are some situations, such as conflicts of interest in financial reporting, complexity and lack of direct access to information has led to the phenomenon of information asymmetry among individuals within the organization and external investors and creditors that appear. The adverse selection and moral hazard in the investor's decision and allows direct assessment of the difficulties associated with data by users makes. In this regard, the role of trustees in corporate governance disclosure is crystallized that includes controls and procedures to ensure the lack of movement in the interests of the company's management and move in the direction of maximizing shareholder and company value. Therefore, the earning forecast of companies in the capital market and the need to identify factors influencing this study was an attempt to make relationship between moral hazard and corporate governance with earning forecast quality companies operating in the capital market and its impact on Earnings Forecasts quality by the company to be established. Getting inspiring from the theoretical basis of research, two main hypotheses and sub-hypotheses are presented in this study, which have been examined on the basis of available models, and with the use of Panel-Data method, and at the end, the conclusion has been made at the assurance level of 95% according to the meaningfulness of the model and each independent variable. In examining the models, firstly, Chow Test was used to specify either Panel Data method should be used or Pooled method. Following that Housman Test was applied to make use of Random Effects or Fixed Effects. Findings of the study show because most of the variables are positively associated with moral hazard with earnings forecasts quality, with increasing moral hazard, earning forecast quality companies listed on the Tehran Stock Exchange is increasing. Among the variables related to corporate governance, board independence variables have a significant relationship with earnings forecast accuracy and earnings forecast bias but the relationship between board size and earnings forecast quality is not statistically significant.

Keywords: corporate governance, earning forecast quality, moral hazard, financial sciences

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Authors: Berrachid Dounia, Bellihi Hassan

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The financial crisis made a barrier in front of small projects that are looking for funding, but in the other hand it has had at least an interesting side effect which is the rise of alternative and increasingly creative forms of financing. The traditional forms of financing has known a recession due to the new difficult situation of economical recession that all parts of the world have known. Having an innovating idea that has an effect on both sides, the economic one and social one is very beneficial for those who wants to get rid of the economical crisis. In this case, entrepreneurs who want to be successful are looking for the means of financing that are going to get their projects to the reality. The financing could be various, whether the entrepreneur can use his own resources, or go to the three “Fs”(Family, friends, and fools),look for Angel Investors, or try for the academic solution like universities and private incubators, but sometimes, entrepreneurs feels uncomfortable about those means and start looking to newer, less traditional forms of financing their projects. In the last few years, people have shown a great interest to the use of internet for many reasons (information, social networking, communication, entertainment, transaction, etc.). The use of internet facilitates relations between people and eases the maintenance of existing relationships ,it increases also the number of exchanges which leads to a “collective creativity”, moreover, internet gives an opportunity to create new tool for mobilizing civil society, which makes the participation in a project company much easier. The new atmosphere of business forces the project leaders to look for new solution of financing that cut out the financial intermediaries. Using platforms in order to finance projects is an alternative that is changing the traditional solutions of financing projects. New creative ways of lending money appears like Peer to Peer (person to person or P2P)lending. This digital directly intermediary got his origins from microcredit principles. Crowdfunding also, like P2P, involves getting individuals to pool their resources to finance a project without a typical financial intermediary. For Lambert and Schwienbacher "Crowdfunding involves an open call, essentially through the Internet, for the provision of financial resources either in the form of donations (without rewards) or in exchange for some form of reward and/or voting rights in order to support initiatives for specific purposes". The idea of this proposal for investors and entrepreneurs is to encourage small contributions from a large number of funders "the crowd" in order to raise money to fund projects. All those conditions made from crowdfunding a useful alternative to project leaders, and especially the ones who are carrying special ideas that need special funds. As mentioned before by Laflamme. S. et Lafortune. S. internet is a tool for mobilizing civil society. In our case, the crowdfunding is the tool that funds social entrepreneurship, in the case of not for profit organizations, it focuses his attention on social problems which could be resolved by mobilizing different resources, creating innovative initiatives, and building new social arrangements which call up the civil society. Social entrepreneurs are mostly the ones who goes onto crowdfunding web site, so they propose the amount which is expected to realize their project and then they receive the funds from crowd funders. Something the crowd funders expect something in return, like a product from the business (a sample from a product (case of a cooperative) or a CD (in the case of films or songs)), but not their money back. Thus, we cannot say that their lands are donations, because a donator did not expect anything back. However, in order to encourage "crowd-funders", rewards motivates people to get interested by projects and made some money from internet. The operation of crowd funding is making all parts satisfied investors, entrepreneurs and also crowdfunding sites owners. This paper aims to give a view of the mechanism of crowdfunding, by clarifying the techniques and its different categories, and social entrepreneurship as a sponsor of social development. Also, it aims to show how this alternative of financing could be beneficial for social entrepreneurs and how it is bringing a solution to fund social projects. The article concludes with a discussion of the contribution of crowdfunding in social entrepreneurship especially in the Moroccan context.

Keywords: crowd-funding, social entrepreneurship, projects funding, financing

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Authors: Sara Shuger Fox, Oscar Reynaga

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This session explains the process and lessons learned as Central College (USA) faculty and staff developed undergraduate research opportunities within the model of a short-term faculty-led study abroad program in Costa Rica. The program in Costa Rica increases access to research opportunities across the disciplines and was developed by faculty from English, Biology, and Exercise Science. Session attendees will benefit from learning how faculty and staff navigated the program proposal process at a small liberal arts college and, in particular, how the program was built to be inclusive of departments with lower enrollment, like those currently seen in the humanities. Vital to this last point, presenters will explain how they negotiated issues of research supervision and disciplinary authority in such a way that the program is open to students from multiple disciplines without forcing the program budget to absorb costs for multiple faculty supervisors traveling and living in-country. Additionally, session attendees will learn how scouting laid the groundwork for mutually beneficial relationships between the program and the communities with which it collaborates. Presenters will explain how they built a coalition of students, faculty advisors, study abroad staff and local research hosts to support the development of research questions that are of value not just to the students, but to the community in which the research will take place. This program also incorporates principles of fair-trade learning by intentionally reporting research findings to local community members, as well as encouraging students to proactively share their research as a way to connect with local people.

Keywords: Costa Rica, research, sustainability, transdisciplinary

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Authors: Frank Hespeler, Giuseppe Loiacono

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We propose measures for systemic risk generated through intra-sectorial interdependencies in the hedge fund sector. These measures are based on variations in the average cross-effects of funds showing significant interdependency between their individual returns and the moments of the sector’s return distribution. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and are consistent with intuitive interpretation of the results.

Keywords: hedge funds, systemic risk, vector autoregressive model, risk monitoring

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Authors: Weiping Liu

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This paper presents an equation to calculate stock prices of different growth model. This equation is mathematically derived by using discounted cash flow method. It has the advantages of being very easy to use and very accurate. It can still be used even when the first stage is lengthy. This equation is more generalized because it can be used for all the three popular stock price models. It can be programmed into financial calculator or electronic spreadsheets. In addition, it can be extended to a multistage model. It is more versatile and efficient than the traditional methods.

Keywords: stock price, multistage model, different growth model, discounted cash flow method

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Authors: Abhimanyu Behera

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Over the past few years, energy security and sustainable development have moved rapidly into the global agenda. There are two main reasons: first, the impact of high and often volatile energy prices; second, concerns over environmental sustainability particularly about the global climate. Both issues are critically important in which impressive economic growth has boosted the demand for energy and put corresponding strains on the environment. Energy security is a broad concept that focuses on energy availability and pricing. Specifically, it refers to the ability of the energy supply system i.e. suppliers, transporters, distributors and regulatory, financial and R&D institutions to deliver the amount of competitively priced energy that customers demand, within accepted standards of reliability, timeliness, quality, safety. Traditionally, energy security has been defined in the context of the geopolitical risks to external oil supplies but today it is encompassing all energy forms, all the external and internal links bringing the energy to the final consumer, and all the many ways energy supplies can be disrupted including equipment malfunctions, system design flaws, operator errors, malicious computer activities, deficient market and regulatory frameworks, corporate financial problems, labour actions, severe weather and natural events, aggressive acts (e.g. war, terrorism and sabotage), and geopolitical disruptions. In practice, the most challenging disruptions are those linked to: 1) extreme weather events; 2) mismatched electricity supply and demand; 3) regulatory failures; and 4) concentration of oil and gas resources in certain regions of the world. However, insecure energy supplies inhibit development by raising energy costs and imposing expensive cuts in services when disruptions actually occur. The energy supply sector can best advance sustainable development by producing and delivering secure and environmentally-friendly sources of energy and by increasing the efficiency of energy use. With this objective, this paper seeks to highlight the significance of energy security and sustainable development in today’s world. Moreover, it critically overhauls the major challenges towards sustainability of energy security and what are the major policies are taken to overcome these challenges by Government is lucidly explicated in this paper.

Keywords: energy, policies, security, sustainability

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Authors: Christian Kapuku, Seung-Young Kho

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An accurate representation of the transportation system serving the region is one of the important aspects of transportation modeling. Such representation often requires developing an abstract model of the system elements, which also requires important amount of data, surveys and time. However, in some cases such as in developing countries, data deficiencies, time and budget constraints do not always allow such accurate representation, leaving opportunities to assumptions that may negatively affect the quality of the analysis. With the emergence of Internet open source data especially in the mapping technologies as well as the advances in Geography Information System, opportunities to tackle these issues have raised. Therefore, the objective of this paper is to demonstrate such application through a practical case of the development of the transportation network for the city of Kinshasa. The GIS geo-referencing was used to construct the digitized map of Transportation Analysis Zones using available scanned images. Centroids were then dynamically placed at the center of activities using an activities density map. Next, the road network with its characteristics was built using OpenStreet data and other official road inventory data by intersecting their layers and cleaning up unnecessary links such as residential streets. The accuracy of the final network was then checked, comparing it with satellite images from Google and Bing. For the validation, the final network was exported into Emme3 to check for potential network coding issues. Results show a high accuracy between the built network and satellite images, which can mostly be attributed to the use of open source data.

Keywords: geographic information system (GIS), network construction, transportation database, open source data

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Authors: Nor Azlina A. Rahman, Jamaliah Said, Salwana Hassan

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Prompt changes in global business environment, such as passionate competition, managerial/operational, changing governmental regulation and innovation in technology have significant impacts on the organizations. At present, global business environment demands for more proactive institutions on microfinance to provide an opportunity for the business success. Microfinance providers in Malaysia still accelerate its activities of funding by cash and cheque. These institutions are at high risk as the paper-based system is deemed to be slow and prone to human error, as well as requiring a major annual reconciliation process. The global transformation of financial services, growing involvement of technology, innovation and new business activities had progressively made risk management profile to be more subjective and diversified. The persistent, complex and dynamic nature of risk management activities in the institutions arise due to highly automated advancements of technology. This may thus manifest in a variety of ways throughout the financial services sector. This study seeks out to examine current operational risks management being experienced by microfinance providers in Malaysia; investigate the process of current practices on facilitator control factor mechanisms, and explore how the adoption of technology, innovation and use of management accounting practices would affect the risk management process of operation system in microfinance providers in Malaysia. A case study method was employed in this study. The case study also need to find that the vital past role of management accounting will be used for mitigation of risk management activities towards accountability as an information or guideline to microfinance provider. An empirical element obtainable with qualitative method is needed in this study, where multipart and in-depth information are essential to understand the issues of these institution phenomena. This study is expected to propose a theoretical model for implementation of technology, innovation and management accounting practices into the system of operation to improve internal control and subsequently lead to mitigation of risk management activities among microfinance providers to be more successful.

Keywords: microfinance, accountability, operational risks, management accounting practices

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Authors: Carlos M. Parra, Matthew Sutherland, Ranjita Poudel

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Reduced mental-bandwidth related to low socioeconomic status (low-SES) might lead to impulsivity and risk-taking behavior, which poses as a major hurdle towards asset building (savings) behavior. Understanding the relationship between risk-related personality metrics as well as laboratory risk behavior and real-life savings behavior can help facilitate the development of effective asset building programs, which are vital for mitigating financial vulnerability and income inequality. As such, this study explored the relationship between personality metrics, laboratory behavior in a risky decision-making task and real-life asset building (savings) behaviors among individuals with low-SES from Miami, Florida (FL). Study participants (12 male, 15 female) included racially and ethnically diverse adults (mean age 41.22 ± 12.65 years), with incomplete higher education (18% had High School Diploma, 30% Associates, and 52% Some College), and low annual income (mean $13,872 ± $8020.43). Participants completed eight self-report surveys and played a widely used risky decision-making paradigm called the Balloon Analogue Risk Task (BART). Specifically, participants played three runs of BART (20 trials in each run; total 60 trials). In addition, asset building behavior data was collected for 24 participants who opened and used savings accounts and completed a 6-month savings program that involved monthly matches, and a final reward for completing the savings program without any interim withdrawals. Each participant’s total savings at the end of this program was the main asset building indicator considered. In addition, a new effective use of average pump bet (EUAPB) indicator was developed to characterize each participant’s ability to place winning bets. This indicator takes the ratio of each participant’s total BART earnings to average pump bet (APB) in all 60 trials. Our findings indicated that EUAPB explained more than a third of the variation in total savings among participants. Moreover, participants who managed to obtain BART earnings of at least 30 cents out of their APB, also tended to exhibit better asset building (savings) behavior. In particular, using this criterion to separate participants into high and low EUAPB groups, the nine participants with high EUAPB (mean BART earnings of 35.64 cents per APB) ended up with higher mean total savings ($255.11), while the 15 participants with low EUAPB (mean BART earnings of 22.50 cents per APB) obtained lower mean total savings ($40.01). All mean differences are statistically significant (2-tailed p  .0001) indicating that the relation between higher EUAPB and higher total savings is robust. Overall, these findings can help refine asset building interventions implemented by policy makers and practitioners interested in reducing financial vulnerability among low-SES population. Specifically, by helping identify individuals who are likely to readily take advantage of savings opportunities (such as matched savings programs) and avoiding the stipulation of unnecessary and expensive financial coaching programs to these individuals. This study was funded by J.P. Morgan Chase (JPMC) and carried out by scientists from Florida International University (FIU) in partnership with Catalyst Miami.

Keywords: balloon analogue risk task (BART), matched savings programs, asset building capability, low-SES participants

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Authors: Turgut Ayten, Tayfun Çay

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In the current expropriation of Turkey, the state acquires necessary lands for its investment without permission of the owners and not searching for alternative solutions, so it is determined that neither processor nor processed is not happy. In this study, interactions of enterprises in Turkey are analysed in case the necessary land for public investments are acquired by expropriation purposed land consolidation. Legal basis, positive and negative sides, financial effects to enterprises of this method is evaluated according to Konya Kadınhanı, Kolukısa avenue which is on the Konya-Ankara High-Speed Train Route.

Keywords: expropriation, land consolidation, land consolidation for expropriation purpose, sustainable rural development

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Authors: C. W. Kan

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Fabrics can be treated to equip them with certain functional properties in which water repellency is one of the important functional effects. In this study, commercial water repellent agent was used under different application conditions to cotton fabric. Finally, the water repellent effect was evaluated by standard testing method. Thus, the aim of this study is to illustrate the proper application of water repellent finishing to cotton fabric and the results could provide guidance note to the students in learning this topic. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: learning materials, water repellent, textiles, cotton

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Authors: Nitin Pipralia, Amit Kmar Sinha, Gudrun de Boeck

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Atmospheric carbon dioxide (CO2) concentrations have been increasing since the beginning of the industrial revolution due to combustion of fossils fuel and many anthropogenic means. As the number of scenarios assembled by the International Panel on Climate Change (IPCC) predict a rise of pCO2 from today’s 380 μatm to approximately 900 μatm until the year 2100 and a further rise of up to 1900 μatm by the year 2300. A rise in pCO2 results in more dissolution in ocean surface water which lead to cange in water pH, This phenomena of decrease in ocean pH due to increase on pCO2 is ocean acidification is considered a potential threat to the marine ecosystems and expected to affect fish as well as calcerious organisms. The situation may get worste when the stress of salinity adds on, due to migratory movement of fishes, where fish moves to different salinity region for various specific activities likes spawning and other. Therefore, to understand the interactive impact of these whole range of two important environmental abiotic stresses (viz. pCO2 ranging from 380 μatm, 900 μatm and 1900 μatm, along with salinity gradients of 32ppt, 10 ppt and 2.5ppt) on the ecophysiologal performance of fish, we investigated various biological adaptive response in European sea bass (Dicentrarchus labrax), a model estuarine teleost. Overall, we hypothesize that effect of ocean acidification would be exacerbate with shift in ambient salinity. Oxygen consumption, ammonia metabolism, iono-osmoregulation, energy budget, ion-regulatory enzymes, hormones and pH amendments in plasma were assayed as the potential indices of compensatory responses.

Keywords: ocean acidification, sea bass, pH climate change, salinity

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Authors: Mariam Shalaby, Kayla Krause, Raisha Ismail, Daniel George

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Introduction: The Pennsylvania State College of Medicine Refugee Initiative is a student-run organization that works with eleven Syrian and Congolese refugee families. Since 2016, it has used grant funding to make weekly produce purchases at a local market, provide tutoring services, and develop trusting relationships. This case study explains how the Refugee Initiative shifted focus to face new challenges due to the COVID-19 pandemic in 2020. Methodology: When refugees who had previously attained stability found themselves unable to pay the bills, the organization shifted focus from food security to direct assistance such as applying for unemployment compensation since many had recently lost jobs. When refugee families additionally struggled to access hygiene supplies, funding was redirected to purchase them. Funds were also raised from the community to provide financial relief from unpaid rent and bills. Findings: Systemic challenges were encountered in navigating federal/state unemployment and social welfare systems, and there was a conspicuous absence of affordable, language-accessible assistance that could help refugees. Finally, as struggling public schools failed to maintain adequate English as a Second Language (ESL) education, the group’s tutoring services were hindered by social distancing and inconsistent access to distance-learning platforms. Conclusion: Ultimately, the pandemic highlighted that a charity-based arrangement is helpful but not sustainable, and challenges persist for refugee families. Based on the Refugee Initiative's experiences over the past year of the COVID-19 pandemic, several needs must be addressed to aid refugee families at this time, including: increased access to affordable and language-accessible social services, educational resources, and simpler options for grant-based financial assistance. Interventions to increase these resources will aid refugee families in need in Central Pennsylvania and internationally

Keywords: COVID-19, health, pandemic, refugees

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Authors: Tri Nopiyanto, Rahardhyani Dwiannisa, Arief Ismaryanto

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One main issue for a certain region in order to achieve development is if the government that consists of the executive, legislative and judicial board are able to work together. However, there are certain conditions that these boards are the sources of conflict, especially between the executive and legislative board. One of the example of the conflict is between the Local Government and Legislative Board (DPRD) in the Province of Jakarta in 2015. The cause of this conflict is because of the occurrence of pokir (pokok pikiran or ideas of budgeting). Pokir is driven by a budgeting plan that is arranged by DPRD that is supposed to be sourced from the aspiration of the people and delivered 5 months before the legalization of Local Government Budget (APBD), but the current condition in Jakarta is that pokir is a project by DPRD members itself and delivered just 3 days before the legalization in order to facilitate the interests of the members of the legislative. This paper discusses how pokir happens and what factors caused it. This paper uses political budgeting theory by Andy Norton and Diane Elson to analyze the issue. The method used in this paper is qualitative to collect the data and solve the problem of this research. The methods involved are in depth interview, experimental questionnaire, and literature studies. Results of this research are that Pokir occurs because of the distribution of power among DPRD members, between parties, executive, and legislative board. Beside that, Pokir also occurs because of the lack of the people’s participation in budgeting process and monitoring. Other than that, this paper also found that pokir also happens because of the budgeting system that is not able to provide a clean budgeting process, so it enables the creation of certain slots to add pokir into the budgets. Pokir also affects the development of Jakarta that goes through stagnation. This research recommends the implementation of e-budgeting to prevent the occurrence of pokir itself in the Province of Jakarta.

Keywords: legislative and executive board, Jakarta, political budgeting, Pokir

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Authors: Diobein C. Flores

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The populace in Municipality of Talaingod is composed of Ata-Manobo. The said lumads enrich their culture, orientation and self because the place is a hive of their tribe. In lieu, the study would analyze the participation of the Ata-Manobo in the making of school improvement plan (SIP). Thus, it recommends alternative policy options that would help strengthen their involvement. The school stakeholders-Ata Manobo representatives from students, parent-teacher association, alumni, basic sector, municipal/barangay government unit, civic/social organizations and other government various agencies are the key participants in this study. The research used descriptive design. The responses of the representatives were analyzed through the criteria involved in employing Rational Model. The technical dimension, administrative, political acceptability and economic are the criteria in revealing decision. The policy alternative option 3- recommends to formulate policy for the purpose of capacitating stakeholders or governing council members in the making of SIP was pointed out as the most preferred option. This could strengthen the participation among Ata-Manobo as stakeholders in planning. Hence, the formulation alternative policy- capacitating stakeholders in the crafting of school improvement plan is recommended. The suggested initiative would assist the Department of Education in forging consensus across neighborhoods during the making of SIP. The appropriation of the definite budget to be used during the conduct of capability building activities is also suggested. Training-workshops are identified as possible intervention to ensure that the stakeholders are equipped with necessary knowledge and skills needed in the making of SIP. Indeed, the equal opportunities for all stakeholders regardless of their life circumstances must be noted. With the belief, people must be empowered to take advantage and spearhead progress in the making of SIP.

Keywords: Ata-Manobo Tribe, stakeholders, school improvement plan, Municipality of Talaingod, Philippines

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Authors: Roselyn Alejandro-Ymana

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The study was an attempt to assess the MTAP Saturday Class Program along its eight components namely, modules, instructional materials, scheduling, trainer-teachers, supervisory support, administrative support, financial support and educational facilities, the results of which served as bases in developing policy guidelines to enhance the MTAP Saturday Class Program. Using a descriptive development method of research, this study involved the participation of twenty-eight (28) schools with MTAP Saturday Class Program in the Division of Dasmarinas City where twenty-eight school heads, one hundred twenty-five (125) teacher-trainer, one hundred twenty-five (125) pupil program participants, and their corresponding one hundred twenty-five (125) parents were purposively drawn to constitute the study’s respondent. A self-made validated survey questionnaire together with Pre and Post-Test Assessment Test in Mathematics for pupils participating in the program, and an unstructured interview guide was used to gather the data needed in the study. Data obtained from the instruments administered was organized and analyzed through the use of statistical tools that included the Mean, Weighted Mean, Relative Frequency, Standard Deviation, F-Test or One-Way ANOVA and the T-Test. Results of the study revealed that all the eight domains involved in the MTAP Saturday Class Program were practiced with the areas of 'trainer-teachers', 'educational facilities', and 'supervisory support' identified as the program’s strongest components while the areas of 'financial support', 'modules' and 'scheduling' as being the weakest program’s components. Moreover, the study revealed based on F-Test, that there was a significant difference in the assessment made by the respondents in each of the eight (8) domains. It was found out that the parents deviated significantly from the assessment of either the school heads or the teachers on the indicators of the program. There is much to be desired when it comes to the quality of the implementation of the MTAP Saturday Class Program. With most of the indicators of each component of the program, having received overall average ratings that were at least 0.5 point away from the ideal rating 5 for total quality, school heads, teachers, and supervisors need to work harder for total quality of the implementation of the MTAP Saturday Class Program in the division.

Keywords: mathematics achievement, MTAP program, policy guidelines, program assessment

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Authors: C. W. Kan

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Cotton is the most commonly used material for apparel purpose because of its durability, good perspiration absorption characteristics, comfort during wear and dyeability. However, proneness to creasing and wrinkling give cotton garments a poor rating during actual wear. Resin finishing is a process to bring out crease or wrinkle free/resistant effect to cotton fabric. Thus, the aim of this study is to illustrate the proper application of resin finishing to cotton fabric, and the results could provide guidance note to the students in learning this topic. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: learning materials, resin, textiles, wrinkle

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Authors: Medina Adulyarat

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Like many other countries, Thailand is experiencing an increase in its proportion of older adults. However, the political, social, and religious climates of the various regions of Thailand are very diverse and the life experiences of older Thai citizens can vary greatly by region. For more than a decade, the southernmost provinces, namely Yala, Pattani and Narathiwat, have experienced social and political unrest, often characterized by violence in the form of bombings and shootings, which has impacted the older adults residing in these regions. While, Muslims are considered a minority in Thailand, the majority of individuals in southernmost regions are Muslims, causing these regions to be different in terms of culture and beliefs. Using a phenomenological approach, this study examines older adults’ perceptions of successful aging within the context of violent social and political unrest. This research aims to 1) understand how older adults living in these areas perceive successful aging in relation to Rowe and Kahn’s successful ageing model, and 2) describe the experiences of older adults living in areas of violent social and political unrest. Data were collected using in-depth interviews with eight older adults living in the unrest area, composing of four males and four females aged between 55-75. Content analysis was used to investigate older adults’ perception of successful aging. Older adults living their life amidst the violence did not view the situation as a threat to their life for they viewed that they are not the targets of the unrest situation. Additionally, participants identified their religious beliefs and a strong sense of community belonging as coping strategies employed to deal with social and political unrest. Thus, according to them, the violence did not affect their perception of successful aging. While the participants’ perceptions of successful aging were generally consistent with aspects identified in the successful aging model proposed by Rowe and Kahn, a theme of “financial stability” emerged. The results can be divided into four interrelated themes, which are; 1) engaging with others; 2) religiosity; 3) financial stability; and 4) health. Understanding the older persons’ view of successful aging in vulnerable situations should add more depth and enhance the conceptualization of the successful aging concept.

Keywords: cultural gerontology, minority population, successful aging, unrest situation

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Authors: Redie Bezabih Hailu

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Unemployment is a problem of nations that needs a continuous research. This study aimed to determine the collaborations and challenges of public employment service (PES) with special emphasis of stakeholders, employers and job seekers. The researcher used pragmatic philosophy, exploratory design and inductive approach to collect data from the respondents using interview and focused group discussion techniques. PES provides job market information, vocational counseling, and training. As PES is not fully furnished with man power, budget, modern technologies, it is providing less adequate services to the employers and job seekers. Matching job seekers with job vacancies is the major challenge for the center and using paper-based data management system too. There is also a number of job seekers in spite of very limited number of vacancies that the service provision is poor due to the fact that there is low level of vacancies and high level of job seekers. The center has collaboration with AFE, AYA, BoTVED, BoWCY, and CETU. The major challenges with this collaborations was the absence of operational guidelines to evaluate effectiveness and performance, lottery method of selecting candidates for vacancies and nepotism or favoritism were challenges for job seekers. On the other hand, (COVID-19) pandemic, inability to get skilled labor, absence of standardized payment, expectation of job seekers and less educational quality and mass graduation were another challenges for employment services. The study recommended quality education and training, operational guideline for collaboration, technology based labor market information system and suggested further studies on quality of PES.

Keywords: public employment service, collaborations, stakeholders, employers, job seekers

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Authors: Massimiliano Frezza, Sergio Bianchi, Augusto Pianese

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The relation between stock price volatility and trading volume represents a controversial issue which has received a remarkable attention over the past decades. In fact, an extensive literature shows a positive relation between price volatility and trading volume in the financial markets, but the causal relationship which originates such association is an open question, from both a theoretical and empirical point of view. In this regard, various models, which can be considered as complementary rather than competitive, have been introduced to explain this relationship. They include the long debated Mixture of Distributions Hypothesis (MDH); the Sequential Arrival of Information Hypothesis (SAIH); the Dispersion of Beliefs Hypothesis (DBH); the Noise Trader Hypothesis (NTH). In this work, we analyze whether stock market efficiency can explain the diversity of results achieved during the years. For this purpose, we propose an alternative measure of market efficiency, based on the pointwise regularity of a stochastic process, which is the Hurst–H¨older dynamic exponent. In particular, we model the stock market by means of the multifractional Brownian motion (mBm) that displays the property of a time-changing regularity. Mostly, such models have in common the fact that they locally behave as a fractional Brownian motion, in the sense that their local regularity at time t0 (measured by the local Hurst–H¨older exponent in a neighborhood of t0 equals the exponent of a fractional Brownian motion of parameter H(t0)). Assuming that the stock price follows an mBm, we introduce and theoretically justify the Hurst–H¨older dynamical exponent as a measure of market efficiency. This allows to measure, at any time t, markets’ departures from the martingale property, i.e. from efficiency as stated by the Efficient Market Hypothesis. This approach is applied to financial markets; using data for the SP500 index from 1978 to 2017, on the one hand we find that when efficiency is not accounted for, a positive contemporaneous relationship emerges and is stable over time. Conversely, it disappears as soon as efficiency is taken into account. In particular, this association is more pronounced during time frames of high volatility and tends to disappear when market becomes fully efficient.

Keywords: volume–volatility relationship, efficient market hypothesis, martingale model, Hurst–Hölder exponent

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Authors: Clara Stella Anugerah

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This study actually is a reflection of the general election in 2014. The researcher was interested in this case as the assessment of several phenomenons that happened recently. One of them is the use of social media for the campaign. By this modern era, social media becomes closer with society. It gains the communication process, and by the time being communicating others also becomes easier than before. Furthermore, social media can minimize the cost of communication with many people as a far distance that often comes to be an obstacle of communication does not become a big problem anymore. In Indonesia, the advantages of social media were used by a political party, Gerindra, to face the election that was held on 2014. Actually Gerindra is a newly formed political party that was established in 2008. In spite of Gerindra is the new comer in the election, according to the General Election Committee’s data in Indonesia, Gerindra has the biggest budget than others to cost campaign in social media. Because of that, this research wants to look “how is the pattern of Gerindra party’s campaign to face the general election in 2014? To ask that question, the theory used for this research is campaign method based on ICT (Information Communication Technology) by Rummele. According to the rummele, Gerindra was a party that used a product of social media massively, mainly facebook and twitter. According to that observation, this research focus on campaign that had been done by Gerindra in both of those social media by the time window given by KPU (General Election Committee) on Maret 16th until April 5th, 2014. The conclusion was derived by content analysis method that was used in the methodology. In this context, that method was used while interpreting the content uploaded by Gerindra to facebook or twitter, such as picture and writing. Finally, by that method and reflecting the rummele theory, this research inferred that the patern used for Gerindra’s campaign in social media tends to be top-down. It means: Gerindra showed uncommunicative tendency in social media and only want to catch much mass without mentioned a mission and vision clearly.

Keywords: Gerindra party, political party, social media, campaign, general election on 2014

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Authors: Wilailuk Meepracha

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The results of the study on the project evaluation to develop the competencies, capabilities, and skills in repairing computers of people in Jompluak Local Municipality, Bang Khonthi District, Samut Songkram Province showed that the overall result was good (4.33). When considering on each aspect, it was found that the highest one was on process evaluation (4.60) followed by product evaluation (4.50) and the least one was on feeding factor (3.97). When considering in details, it was found that: 1) the context aspect was high (4.23) with the highest item on the arrangement of the training situation (4.67) followed by the appropriateness of the target (4.30) and the least aspect was on the project cooperation (3.73). 2) The evaluation of average overall primary factor or feeding factor showed high value (4.23) while the highest aspect was on the capability of the trainers (4.47) followed by the suitable venue (4.33) while the least aspect was on the insufficient budget (3.47). 3) The average result of process evaluation was very high (4.60). The highest aspect was on the follow-op supervision (4.70) followed by responsibility of each project staffs (4.50) while the least aspect was on the present situation and the problems of the community (4.40). 4) The overall result of the product evaluation was very high (4.50). The highest aspect was on the diversity of the activities and the community integration (4.67) followed by project target achievement (4.63) while the least aspect was on continuation and regularity of the activities (4.33). The trainees reported high satisfaction on the project management at very high level (43.33%) while 40% reported high level and 16.67% reported moderate level. Suggestions for the project were on the additional number of the computer sets (37.78%) followed by longer training period especially on computer skills (43.48%).

Keywords: project evaluation, competency development, the capability on computer repairing and computer skills

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Authors: David Broussard

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This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

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Authors: Mohammed El-Arbi Khalfallah, Mohamed Lakhdar Hadji

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Managing and controlling risk is a topic research in the world of finance. Before a risky situation, the stakeholders need to do comparison according to the positions and actions, and financial institutions must take measures of a particular market risk and credit. In this work, we study a model of risk measure in finance: Value at Risk (VaR), which is a new tool for measuring an entity's exposure risk. We explain the concept of value at risk, your average, tail, and describe the three methods for computing: Parametric method, Historical method, and numerical method of Monte Carlo. Finally, we briefly describe advantages and disadvantages of the three methods for computing value at risk.

Keywords: average value at risk, conditional value at risk, tail value at risk, value at risk

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Authors: Fady Tawakol

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BitCoin is a decentralized cryptocurrency that can be used without the need of traditional central banks to accomplish any e-commerce trade. The use of such currency could facilitate new economic interactions and linkages. However, without effective and efficient regulations, cryptocurrency transactions are mostly used by criminals to commit crimes such as money laundering, theft, and blackmailing. And because law is one step behind technological developments, this paper discusses the importance of regulations and supervision for the BitCoin-system, to provide unified regulatory solutions for our digital future in the Middle East. It will provide a detailed analysis of the legal nature of BitCoin along with, its regulation with respect to criminal and civil law.

Keywords: BitCoin, financial protection, crypto currency, money laundering

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Authors: Julia Hoefer Martí

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While research has consistently found a significant motherhood wage penalty for heterosexual women, where homosexual women are concerned, evidence has appeared to suggest no effect, or possibly even a wage bonus. This paper presents a model of the household with a public good that requires both a monetary expense and a labour investment, and where the household budget is shared between partners. Lower-wage partners will do relatively more of the household labour while higher-wage partners will specialise in market labour, and the arrival of a child exacerbates this split, resulting in the lower-wage partner taking on even more of the household labour in relative terms. Employers take this gender-sexuality dyad as a signal for employees’ commitment to the labour market after having a child, and use the information when setting wages after employees become parents. Given that women empirically earn lower wages than men, in a heterosexual couple the female partner will often do more of the household labour. However, as not every female partner has a lower wage, this results in an over-adjustment of wages that manifests as an unexplained motherhood wage penalty. On the other hand, in homosexual couples wage distributions are ex ante identical, and gender is no longer a useful signal to employers as to whether the partner is likely to specialise in household labour or market labour. This model is then tested using longitudinal data from the EU Standards of Income and Living Conditions (EU-SILC) to investigate the hypothesis that women experience different wage effects of motherhood depending on their sexual orientation. While heterosexual women receive a significant motherhood wage penalty of 8-10%, homosexual mothers do not receive any significant wage bonus or penalty of motherhood, consistent with the hypothesis presented above.

Keywords: discrimination, gender, motherhood, sexual orientation, labor economics

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Authors: Ahmad Baghdadi, Mohammed Kishk

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Construction projects are unique and involve different level of complexity. Airports projects, among other construction projects, are considered to be very complex as they face a number of challenges which make them inevitably exposed to risks. However, in Saudi Arabia, the sector of aviation is considered an important sector owing to the fact that it is the first destination for Muslims on an annual basis. As a result the Saudi government has allocated a huge amount of their general budget to this sector through the General Authority of Civil Aviation (GACA). However, it has been found that the projects are still delivered with a significant number of time and cost overruns. These consequences are typically generated from the risks involved in the projects. Thus, there is a need to identify the number of risks thought to cause such overruns in project times and costs, as well as to assess their significances in terms of their likelihoods of occurrence and their impacts. Accordingly, this paper aims to identify risks associated with aviation construction projects in Saudi Arabia, as well as to assess their likelihoods of occurrence and impacts on such projects. In total, forty four risks have been identified through a critical literature review of common risks in similar projects, as well as thirteen semi-structured interviews with expert project managers involved in GACA’s projects. However, the assessment of the identified risks in term of their likelihoods of occurrence and impacts was obtained through the analysis of forty five questionnaires. Respondents of questionnaires include clients, contractors and consultants. The results show the risks of design changes by the client, labour issue, and setting a tight schedule by the client have the highest likelihoods of occurrence in GACA projects, while the risks of earthquakes, design constructability, and corruption have the greatest impacts.

Keywords: aviation construction projects, GACA, risks, risk assessment, Saudi Arabia

Procedia PDF Downloads 542