Search results for: financial sector development

Authors: Francis Kwesi Bondinuba, Seidu Abdullah, Mewomo Cecilia, Opoku Alex

Abstract:

Purpose: The purpose of this research is to develop a framework for understanding how sustainable project management contributes to the construction industry's pursuit of sustainable development goals. Study design/methodology/approach: The study employed a theoretical methodology to review existing theories and models that support Sustainable Project Management (SPM) in the construction industry. Additionally, a comprehensive review of current literature on SPM is conducted to provide a thorough understanding of this study. Findings: Sustainable Project Management (SPM) practices, including stakeholder engagement and collaboration, resource efficiency, waste management, risk management, and resilience, play a crucial role in achieving the Sustainable Development Goals (SDGs) within the construction industry. Conclusion: Adopting Sustainable Project Management (SPM) practices in the Ghanaian construction industry enhances social inclusivity by engaging communities and creating job opportunities. The adoption of these practices faces significant challenges, including a lack of awareness and understanding, insufficient regulatory frameworks, financial constraints, and a shortage of skilled professionals. Recommendation: There should be a comprehensive approach to project planning and execution that includes stakeholders such as local communities, government bodies, and environmental organisations, the use of green building materials and technologies, and the implementation of effective waste management strategies, all of which will ensure the achievement of SDGs in Ghana's construction industry. Originality/value: This paper adds to the current literature by offering the various theories and models in Sustainable Project Management (SPM) and a detailed review of how Sustainable Project Management (SPM) contribute to the achievement of the Sustainable Development Goals (SDGs) in the Ghanaian Construction Industry.

Keywords: sustainable development, sustainable development goals, construction industry, ghana, sustainable project management

Procedia PDF Downloads 25

Authors: S. Asplund, J. Åhlin, S. Åström, B. M. Lindgren

Abstract:

The aim of this qualitative study was to describe experiences of work-related stress among highly stressed municipal employees in rural northern Sweden. We interviewed 15 employees in the municipal sector in rural northern Sweden using a semi-structured guide and subjected the interviews to qualitative content analysis. Under the main theme of Suffering Though Endless Chaos, we summarized four themes: facing incompatible interests and high demands due to lack of time and resources; feeling powerless, trapped, and ignored due to lack of control; feeling insufficient, insecure, and guilty due to challenging relations and high expectations; and struggling with consequences such as health problems, spillover effects on family life, and difficulty coping. Findings from this study suggest the importance of acknowledging suffering among municipal employees in a stressful work environment. An imbalance between job demands and resources is affecting both the health and family lives of employees and also their ability to work. It seems important to improve the work environment through supportive leadership, job control, and reasonable job demands to prevent stress, reduce suffering, and create a healthy organization.

Keywords: manager, municipal sector, occupational health, qualitative content analysis

Procedia PDF Downloads 84

Authors: Gultekin Gurcay

Abstract:

It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

Procedia PDF Downloads 240

Authors: Arjun S.

Abstract:

This study examines the impact of corporate governance on financial performance of Indian banks during five years (from 2010 to 2015). Based on 218 observations, a quantitative method of data analysis was employed to investigate the relevance of corporate governance mechanisms. The first finding reveals a significant and negative impact of board size on the performance of Indian banks. The research also finds a significant and negative relationship between CEO duality and bank performance. Finally, the correlation results reveal that there is a significant and negative correlation of Bank size and bank performance.

Keywords: Indian banks, financial performance, corporate governance, banksize

Procedia PDF Downloads 357

Authors: Chaoren Lu

Abstract:

Public policy is playing as one driving force that influencing service innovation implementation in public sector. However, public policy implications cannot be automatically derived from the analyses of innovation issues, and there lacks of researches about the influences of public policy onto innovation. Moreover, innovation in service system is hard to predictable and whether policy encourages or hidden innovation is still lack of study. Especially, by given the context that multiple actors are active involving within the service delivery process in public transport sector, the complex driving forces and challenges are emerged towards the service operation. This study is aim to analysis the service innovation practices within service operating organizations to understand the drivers and challenges of service operation based on policy requirements, and where the innovation idea generating from. The case studies of Changzhou Transit Group and Nanjing Jiangnan Public Transit Group will be launched. This paper reveals the ambidexterity between top-down and bottom-up demands within the public transport service operating organizations contribute to the innovation ideas. Meanwhile, it contributes to the understanding of fundamental elements of service innovation is the new relationship creation and new way of sharing knowledge. The policy contributes to the trigger of creation of such relationship. The research question is: what are the sources of service innovation practices in local public transport system in China in in facing the policy implementation?

Keywords: public value, service innovation, public transport service, China

Procedia PDF Downloads 321

Authors: Nina Ponikvar, Katja Zajc Kejžar

Abstract:

While the positive impacts of heritage on a broad societal spectrum have long been recognized and measured, the economic effects of the heritage sector are often less visible and frequently underestimated. At macro level, economic effects are usually studied based on one of the two mainstream approach, i.e. either the multiplier approach or the value chain approach. Consequently, there is limited comparability of the empirical results due to the use of different methodological approach in the literature. Furthermore, it is also not clear on which criteria the used approach was selected. Our aim is to bring the attention to the difference in the scope of effects that are encompassed by the two most frequent methodological approaches to valuation of economic effects of cultural heritage on macroeconomic level, i.e. the multiplier approach and the value chain approach. We show that while the multiplier approach provides a systematic, theory-based view of economic impacts but requires more data and analysis, the value chain approach has less solid theoretical foundations and depends on the availability of appropriate data to identify the contribution of cultural heritage to other sectors. We conclude that the multiplier approach underestimates the economic impact of cultural heritage, mainly due to the narrow definition of cultural heritage in the statistical classification and the inability to identify part of the contribution of cultural heritage that is hidden in other sectors. Yet it is not possible to clearly determine whether the value chain method overestimates or underestimates the actual economic impact of cultural heritage since there is a risk that the direct effects are overestimated and double counted, but not all indirect and induced effects are considered. Accordingly, these two approaches are not substitutes but rather complementary. Consequently, a direct comparison of the estimated impacts is not possible and should not be done due to the different scope. To illustrate the difference of the impact assessment of the cultural heritage, we apply both approaches to the case of Slovenia in the 2015-2022 period and measure the economic impact of cultural heritage sector in terms of turnover, gross value added and employment. The empirical results clearly show that the estimation of the economic impact of a sector using the multiplier approach is more conservative, while the estimates based on value added capture a much broader range of impacts. According to the multiplier approach, each euro in cultural heritage sector generates an additional 0.14 euros in indirect effects and an additional 0.44 euros in induced effects. Based on the value-added approach, the indirect economic effect of the “narrow” heritage sectors is amplified by the impact of cultural heritage activities on other sectors. Accordingly, every euro of sales and every euro of gross value added in the cultural heritage sector generates approximately 6 euros of sales and 4 to 5 euros of value added in other sectors. In addition, each employee in the cultural heritage sector is linked to 4 to 5 jobs in other sectors.

Keywords: economic value of cultural heritage, multiplier approach, value chain approach, indirect effects, slovenia

Procedia PDF Downloads 77

Authors: Naveed Ghani, Samreen Javed

Abstract:

In today’s heterogeneous network environment, there is a growing demand for distrust clients to jointly execute secure network to prevent from malicious attacks as the defining task of propagating malicious code is to locate new targets to attack. Residual risk is always there no matter what solutions are implemented or whet so ever security methodology or standards being adapted. Security is the first and crucial phase in the field of Computer Science. The main aim of the Computer Security is gathering of information with secure network. No one need wonder what all that malware is trying to do: It's trying to steal money through data theft, bank transfers, stolen passwords, or swiped identities. From there, with the help of our survey we learn about the importance of white listing, antimalware programs, security patches, log files, honey pots, and more used in banks for financial data protection but there’s also a need of implementing the IPV6 tunneling with Crypto data transformation according to the requirements of new technology to prevent the organization from new Malware attacks and crafting of its own messages and sending them to the target. In this paper the writer has given the idea of implementing IPV6 Tunneling Secessions on private data transmission from financial organizations whose secrecy needed to be safeguarded.

Keywords: network worms, malware infection propagating malicious code, virus, security, VPN

Procedia PDF Downloads 358

Authors: Sharmistha Chanda, Anindita Choudhuri

Abstract:

This exploratory study highlights the psychological aspects of women's empowerment to find the importance of the psychological dimension of empowerment, such as; meaning, competence, self-determination, impact, and assumption, especially in the weaker marginalized section of women. A large proportion of rural, suburban, and urban poor survive by working in unorganized sectors of metropolitan cities. Relative Poverty and lack of employment in rural areas and small towns drive many people to the metropolitan city for work and livelihood. Women working in that field remain unrecognized as people of low socio-economic status. They are usually willing to do domestic work as daily wage workers, single wage earners, street vendors, family businesses like agricultural activities, domestic workers, and self-employed. Usually, these women accept such jobs because they do not have such an opportunity as they lack the basic level of education that is required for better-paid jobs. The unorganized sector, on the other hand, has no such clear-cut employer-employee relationships and lacks most forms of social protection. Having no fixed employer, these workers are casual, contractual, migrant, home-based, own-account workers who attempt to earn a living from whatever meager assets and skills they possess. Women have become more empowered both financially and individually through small-scale business ownership or entrepreneurship development and in household-based work. In-depth interviews have been done with 10 participants in order to understand their living styles, habits, self-identity, and empowerment in their society in order to evaluate the key challenges that they may face following by qualitative research approach. Transcription has been done from the collected data. The three-layer coding technique guides the data analysis process, encompassing – open coding, axial coding, and selective coding. Women’s Entrepreneurship is one of the foremost concerns as the Government, and non-government institutions are readily serving this domain with the primary objectives of promoting self-employment opportunities in general and empowering women in specific. Thus, despite hardship and unrecognition unorganized sector provides a huge array of opportunities for rural and sub-urban poor to earn. Also, the upper section of society tends to depend on this working force. This study gave an idea about the well-being, and meaning in life, life satisfaction on the basis of their lived experience.

Keywords: marginalized women, psychological empowerment, relative poverty, unorganized sector

Procedia PDF Downloads 62

Authors: Nourhan A. Saad, Sara Elgazzar, Gehan Saleh

Abstract:

The food industry nowadays is becoming customer-oriented and needs faster response time to deal with food incidents. There is a deep need for good traceability systems to help the supply chain (SC) partners to minimize production and distribution of unsafe or poor quality products, which in turn will enhance the food SC performance. The current food labeling systems implemented in developing countries cannot guarantee that food is authentic, safe and of good quality. Therefore, the use of origin labels, mainly the geographical indications (GIs), allows SC partners to define quality standards and defend their products' reputation. According to our knowledge there are no studies discussed the use of GIs in developing countries. This research represents a research schema about the implementation of European quality labeling system in developing countries and its impact on enhancing SC performance. An empirical study was conducted on the Egyptian traditional food sector based on a sample of seven restaurants implementing the Med-diet labeling system. First, in-depth interviews were carried out to analyze the Egyptian traditional food SC. Then, a framework was developed to link the European quality labeling system and SC performance. Finally, a structured survey was conducted based on the applied framework to investigate the impact of Med-diet labeling system on the SC performance. The research provides an applied framework linking Med-diet quality labeling system to SC performance of traditional food sector in developing countries generally and especially in the Egyptian traditional food sector. The framework can be used as a SC performance management tool to increase the effectiveness and efficiency of food industry's SC performance.

Keywords: food supply chain, med-diet labeling system, quality labeling system, supply chain performance

Procedia PDF Downloads 313

Authors: Usman Yakubu, Muktar Haruna

Abstract:

The paper examines the impact of the audit committee on the earning quality of the listed consumer goods sector in Nigeria. The study used data collected from annual reports and accounts of the 13 sampled companies for the periods 2007 to 2018. Data were analyzed by means of descriptive statistics to provide summary statistics for the variables; also, correlation analysis was carried out using the Pearson correlation technique for the correlation between the dependent and independent variables. Regression was employed using the Generalized Least Square technique since the data has both time series and cross sectional attributes (panel data). It was found out that the audit committee had a positive and significant influence on the earning quality in the listed consumer goods companies in Nigeria. Thus, the study recommends that competency and personal integrity should be the worthwhile attributes to be considered while constituting the committee; this could enhance the quality of accounting information. In addition to that majority of the committee members should be independent directors in order to allow a high level of independency to be exercised.

Keywords: earning quality, corporate governance, audit committee, financial reporting

Procedia PDF Downloads 173

Authors: Md. Abdul Kader

Abstract:

Several reports released by Global Financial Integrity (GFI) in recent times have identified Bangladesh as being among the worst affected countries to the scourge of money laundering (ML) and terrorist financing (TF). The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic Banking. This paper attempts to examine the issues of money laundering (ML) and terrorist financing (TF) in Islamic Banks of Bangladesh. This study also investigates the risk factors associated with Islamic Banking system of Bangladesh that are favorable for ML and TF and which prevent the government to control such issues in the Islamic Banks of Bangladesh. Qualitative research methods were employed by studying various reports from journals, newspapers, bank reports and periodicals. In addition, five ex-bankers who were in the policy making bodies of three Islamic Banks were also interviewed. Findings suggest that government policies regarding Islamic Banking system in Bangladesh are not well defined and clear. Shariah law, that is the guiding principle of Islamic Banking, is not well recognized by the government policy makers, and thus they left the responsibility to the governing bodies of the banks. Other challenges that were found in the study are: the complexity of some Islamic banking products, the different forms of relationship between the banks and their clients, the inadequate ability and skill in the supervision of Islamic finance, particularly in jurisdictions, to evaluate their activities. All these risk factors paved the ground for ML and TF in the Islamic Banks of Bangladesh. However, due to unconventional nature of Banking and lack of investigative reporting on Islamic Banking, this study could not cover the whole picture of the ML/TF of Islamic Banks of Bangladesh. However, both qualitative documents and interviewees confirmed that Islamic Banking in Bangladesh could be branded as risky when it comes to money laundering and terror financing. This study recommends that the central bank authorities who supervise Islamic finance and the government policy makers should obtain a greater understanding of the specific ML/TF risks that may arise in Islamic Banks and develop a proper response. The study findings are expected to considerably impact Islamic banking management and policymakers to develop strong and appropriate policy to enhance transparency, accountability, and efficiency in banking sector. The regulatory bodies can consider the findings to disseminate anti money laundering and terror financing related rules and regulations.

Keywords: money laundering, terror financing, islamic banking, bangladesh

Procedia PDF Downloads 95

Authors: Luis Enrique Escalante Ochoa

Abstract:

This paper attempts to assess the impacts of Climate change (CC) on inequalities in the labour market. CC will have the most serious effects on some vulnerable economic sectors, such as agriculture, livestock or tourism, but also on the most vulnerable population groups. The objective of this research is to evaluate the impact of CC on the labour market and particularly on Mexican women. Influential documents such as the synthesis reports produced by the Intergovernmental Panel on Climate Change (IPCC) in 2007 and 2014 revived a global effort to counteract the effects of CC, called for an analysis of the impacts on vulnerable socio-economic groups and on economic activities, and for the development of decision-making tools to enable policy and other decisions based on the complexity of the world in relation to climate change, taking into account socio-economic attributes. We follow up this suggestion and determine the impact of CC on vulnerable populations in the Mexican labour market, taking into account two attributes (gender and level of qualification of workers). Most studies have focused on the effects of CC on the agricultural sector, as it is considered a highly vulnerable economic sector to the effects of climate variability. This research seeks to contribute to the existing literature taking into account, in addition to the agricultural sector, other sectors such as tourism, water availability, and energy that are of vital importance to the Mexican economy. Likewise, the effects of climate change will be extended to the labour market and specifically to women who in some cases have been left out. The studies are sceptical about the impact of CC on the female labour market because of the perverse effects on women's domestic work, which are too often omitted from analyses. This work will contribute to the literature by integrating domestic work, which in the case of Mexico is much higher among women than among men (80.9% vs. 19.1%), according to the 2009 time use survey. This study is relevant since it will allow us to analyse impacts of climate change not only in the labour market of the formal economy, but also in the non-market sphere. Likewise, we consider that including the gender dimension is valid for the Mexican economy as it is a country with high degrees of gender inequality in the labour market. In the OECD economic study for Mexico (2017), the low labour participation of Mexican women is highlighted. Although participation has increased substantially in recent years (from 36% in 1990 to 47% in 2017), it remains low compared to the OECD average where women participate around 70% of the labour market. According to Mexico's 2009 time use survey, domestic work represents about 13% of the total time available. Understanding the interdependence between the market and non-market spheres, and the gender division of labour within them is the necessary premise for any economic analysis aimed at promoting gender equality and inclusive growth.

Keywords: climate change, labour market, domestic work, rural sector

Procedia PDF Downloads 131

Authors: Ahmad Alqatan

Abstract:

Purpose: The purpose of this study is to analyze how the adoption of cloud accounting systems influences the governance practices and performance of boards of directors in MENA countries. The research aims to identify the benefits and challenges associated with cloud accounting and its role in improving board efficiency and oversight. Methodology: This research employs a mixed-method approach, combining quantitative surveys and qualitative interviews with board members and financial officers from a diverse range of companies in the MENA region. The quantitative data is analyzed to determine patterns and correlations, while qualitative insights provide a deeper understanding of the contextual factors influencing cloud accounting adoption and its impacts. Findings: The findings indicate that cloud accounting significantly enhances the decision-making capabilities of boards by providing real-time financial information and facilitating better communication among board members. Companies using cloud accounting reports improved financial oversight and more timely and accurate financial reporting. However, the research also identifies challenges such as cybersecurity concerns, resistance to change, and the need for ongoing training and support. Practical Implications: The study suggests that MENA companies can benefit from investing in cloud accounting technologies to improve board governance and strategic decision-making. It highlights the importance of addressing cybersecurity issues and providing adequate training for board members to maximize the advantages of cloud accounting. Originality: This research contributes to the limited literature on cloud accounting in the MENA region, offering valuable insights for policymakers, business leaders, and academics. It underscores the transformative potential of cloud accounting for enhancing board performance and corporate governance in emerging markets.

Keywords: cloud accounting, board of directors, MENA region, corporate governance, financial transparency, real-time data, decision-making, cybersecurity, technology adoption

Procedia PDF Downloads 31

Authors: Parisa Golbayani, Dan Wang, Ionut¸ Florescu

Abstract:

In this work we implement machine learning techniques to financial statement reports in order to asses company’s credit rating. Specifically, the work analyzes the performance of four neural network architectures (MLP, CNN, CNN2D, LSTM) in predicting corporate credit rating as issued by Standard and Poor’s. The paper focuses on companies from the energy, financial, and healthcare sectors in the US. The goal of this analysis is to improve application of machine learning algorithms to credit assessment. To accomplish this, the study investigates three questions. First, we investigate if the algorithms perform better when using a selected subset of important features or whether better performance is obtained by allowing the algorithms to select features themselves. Second, we address the temporal aspect inherent in financial data and study whether it is important for the results obtained by a machine learning algorithm. Third, we aim to answer if one of the four particular neural network architectures considered consistently outperforms the others, and if so under which conditions. This work frames the problem as several case studies to answer these questions and analyze the results using ANOVA and multiple comparison testing procedures.

Keywords: convolutional neural network, long short term memory, multilayer perceptron, credit rating

Procedia PDF Downloads 235

Authors: Henry Gonzalo Acurio Flores, Alvaro Nicolas Corral Naveda, Juan Francisco Fonseca Palacios

Abstract:

In Ecuador, subventions on fossil fuels for the road transportation sector have always been part of its economy throughout time, mainly because of demagogy and populism from political leaders. It is clearly seen that the government cannot maintain the subsidies anymore due to its commercial balance and its general state budget; subsidies are a key barrier to implementing the use of cleaner technologies. However, during the last few months, the elimination of subsidies has been done gradually with the purpose of reaching international prices. It is expected that with this measure, the population will opt for other means of transportation, and in a certain way, it will promote the use of private electric vehicles and public, e.g., taxis and buses (urban transport). Considering the three main elements of sustainable development, an analysis of the social, economic, and environmental impacts of eliminating subsidies will be generated at the country level. To achieve this, four scenarios will be developed in order to determine how the subsidies will contribute to the promotion of electro-mobility. 1) A Business as Usual BAU scenario; 2) the introduction of 10 000 electric vehicles by 2025; 3) the introduction of 100 000 electric vehicles by 2030; 4) the introduction of 750 000 electric vehicles by 2040 (for all the scenarios buses, taxis, lightweight duty vehicles, and private vehicles will be introduced, as it is established in the National Electro Mobility Strategy for Ecuador). The Low Emissions Analysis Platform (LEAP) will be used, and it will be suitable to determine the cost for the government in terms of importing derivatives for fossil fuels and the cost of electricity to power the electric fleet that can be changed. The elimination of subventions generates fiscal resources for the state that can be used to develop other kinds of projects that will benefit Ecuadorian society. It will definitely change the energy matrix, and it will provide energy security for the country; it will be an opportunity for the government to incentivize a greater introduction of renewable energies, e.g., solar, wind, and geothermal. At the same time, it will also reduce greenhouse gas emissions (GHG) from the transportation sector, considering its mitigation potential, which as a result, will ameliorate the inhabitant quality of life by improving the quality of air, therefore reducing respiratory diseases associated with exhaust emissions, consequently, achieving sustainability, the Sustainable Development Goals (SDGs), and complying with the agreements established in the Paris Agreement COP 21 in 2015. Electro mobility in Latin America and the Caribbean can only be achieved by the implementation of the right policies at the central government, which need to be accompanied by a National Urban Mobility Policy (NUMP) and can encompass a greater vision to develop holistic, sustainable transport systems at local governments.

Keywords: electro mobility, energy, policy, sustainable transportation

Procedia PDF Downloads 84

Authors: Rahul Ravindranathan, R. P. Gokul

Abstract:

India, in its efforts towards economic and social development, is currently experiencing a heavy demand for energy. Due to the lack of sufficient domestic energy reserves, the country is highly dependent on energy imports which has increased rapidly at a rate of about 12 % per annum since 2005. Hence, India is currently focusing its efforts to manage this energy supply and demand gap and eventually achieve energy security. One of the most cost effective means to reduce this gap is by adopting Energy efficiency measures in the country. Initial assessments have shown that Energy efficiency measures have an energy conservation potential of about 23%. For an estimated investment potential of USD 8 Billion, the annual energy savings was estimated to be about 180 Billion Units per annum. In order to explore this huge energy conservation potential, many critical factors need to be considered to achieve practical energy savings. Financing options for these investments is one such major factor. Not only has India come out with various policy level as well as technology level drives to promote Energy efficiency but it has also developed various financing schemes to promote investment in Energy Efficiency projects. The Public sector has already come out with certain financing schemes such as the Partial Risk Guarantee Fund (PRGF), Venture Capital Fund (VCF), Partial Risk Sharing Fund (PRSF) etc., and various sectors are gradually utilizing these schemes to implement energy saving measures. However, additional financing options are required in order to explore the untouched energy conservation potential in the country. Hence, there is a need to develop some innovative financing options for India which would motivate the private sectors as well as financing institutions to invest in these energy saving measures. This paper shall review the existing financing schemes launched by the Government of India and highlight the key benefits as well as challenges with respect to these schemes. In addition to this, the paper would also review new and innovative financing schemes for India and how the same could be adopted in other parts of the globe especially in South and South East Asia. This review would provide an insight to the various Governments as well as Financial Institutions in coming out with new financing schemes for their country.

Keywords: energy, efficiency, financing, India

Procedia PDF Downloads 340

Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

Abstract:

We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

Procedia PDF Downloads 240

Authors: Yolanda Indah Permatasari, Sudarsono Hardjosoekarto

Abstract:

Public private partnership (PPP) scheme was considered as an alternative source of funding for infrastructure provision. However, the performance of PPP scheme and interest of private sector to participate in the provision of infrastructure was still practically low. This phenomenon motivates the research to reconstruct the form of collaborative governance at the policy level from the perspective of transaction cost of the PPP scheme. Soft-system methodology (SSM)-based action research was used as this research methodology. The result of this study concludes that the emergence of transaction cost sources at the policy level is caused by the absence of a law that governs infrastructure investment, especially the implementation of PPP scheme. This absence is causing the imbalance in risk allocation and risk mitigation between the public and private sector. Thus, this research recommended the formulation of infrastructure investment law that aims to minimize asymmetry information, to anticipate the principal-principal problems, and to provide legal basis that ensures risk certainty and guarantee fair risk allocation between public and private sector.

Keywords: public governance, public private partnership, soft system methodology, transaction cost

Procedia PDF Downloads 140

Authors: Abdulbasit Musa Ahmad Karkarku

Abstract:

Knowledge is the best asset you can leave for your child, especially the knowledge of Islam because it facilitates success in this life and the next. This made it necessary for every Muslim male and female to acquire Islamic education. The objective of this research is to highlight the role played by Muslim scholars in promoting Islamic education in Katsina State, Nigeria. There are so many problems facing Muslim scholars in the area of study; some of these problems include a lack of government support for Muslim scholars, a lack of community support, and a lack of financial support from wealthy individuals and philanthropists. In this research, two methods were used concurrently, i.e., library and interview methods. In the library method, the researcher consulted books and other academic works. In the course of this research, parents and religious leaders were interviewed in order to collect needed data information from them. The major findings of this research have shown that the Muslim scholars in area of study have contributed tremendously toward the development of Islamic education. Also, Muslim scholars played a vital role in the promotion of Islamic education in the area of study and beyond. In view of the above, some suggestions were highlighted with the view toward solving the associated problems; the government at every level should come to the aid of these Muslim scholars in order to provide them with basic amenities. The Philanthropists and wealthy individuals should help the Muslim scholars by giving them financial assistance. Also, communities have a vital role to play in order to improve the condition of Muslim scholars by giving them more donations.

Keywords: education, Islamic, Muslim, scholars

Procedia PDF Downloads 129

Authors: Sabrina Mortet

Abstract:

The economic crisis, which struck the world economy in mid-2008, had an impact on migration in Europe, especially the employment situation of migrant workers. That’s why migrants tended to be the first to lose their jobs during the crisis, victims of the rule "last–in, first-out”. In the same context, the economic recession which affected the migration flows, immigration level has slowed while emigration has increased in some European countries. Since people go where jobs are, we will try to speak about the mobility of migrants after the crisis by focusing on return migration to see if migrants in the period of recession prefer going home or staying in the host country; and we will take Spain as a case of study, because it had attracted an extraordinarily high inflows of migration and it is one of the EU country which was hardly affected by the financial crisis.

Keywords: economic crisis, international migration, mobility, return migration, employement

Procedia PDF Downloads 331

Authors: Ilham Benali, Nasser Hajji, Nawfal Acha

Abstract:

Given the fact that the pharmaceutical industry is a commonly studied sector in the context of innovation, the majority of innovation research is devoted to the developed markets known by high research and development (R&D) assets and intensive innovation. In contrast, in developing countries where R&D assets are very low, there is relatively little research to mention in the area of pharmaceutical sector innovation, characterized mainly by two principal elements which are the presence of foreign-owned firms and licensed manufacturing agreements between local firms and multinationals. With the scarcity of research in this field, this paper attempts to study the effect of these two elements on the firms’ innovation tendencies. Other traditional factors that influence innovation, which are the age and the size of the firm, the R&D activities and the market structure, revealed in the literature review, will be included in the study in order to try to make this work more exhaustive. The study starts by examining innovation tendency in pharmaceutical firms located in developing countries before analyzing the effect of foreign-owned firms and licensed manufacturing agreements between local firms and multinationals on technological, organizational and marketing innovation. Based on the related work and on the theoretical framework developed, there is a probability that foreign-owned firms and licensed manufacturing agreements between local firms and multinationals have a negative influence on technological innovation. The opposite effect is possible in the case of organizational and marketing innovation.

Keywords: developing countries, foreign owned firms, innovation, licensed manufacturing agreements, pharmaceutical industry

Procedia PDF Downloads 164

Authors: Minghua Chen, Rui Wang

Abstract:

This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.

Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks

Procedia PDF Downloads 446

Authors: Márcia Aparecida Teixeira

Abstract:

Sports, in particular football, boosts considerably the financial market of a certain locality, be it city or even a country. The financial transactions involving this medium stand out from other existing businesses, such as small industries. Strategically, social networks are inserted in this sporting environment, in order to promote and attract new fans of this modality. The present study analyzes the use of social networks in Sports Marketing with a focus on football. For the object of this study, it was chosen a specific club, the Club Atlético Mineiro, a Brazilian club of great national notoriety. The social networks on focus will be: Facebook, Twitter, and Instagram. It will be analyzed the content and frequency of the posts, reception of the target public in relation to the content made available and its feedback.

Keywords: social network, sport, strategy, marketing

Procedia PDF Downloads 388

Authors: Bruce Small, Martin Espig, Alyssa Ryan

Abstract:

In the agricultural sector, the rapid expansion of herbicide resistant weeds is a major threat to the global sustainability of food and fibre production. Efforts to avoid herbicide resistance have primarily focused on new technologies and farmer education. Yet, despite decades of advice to growers from agricultural scientists and extension professionals of the need for management strategies for herbicide use, herbicide resistance continues to increase. Technological options are running out and current extension efforts to change farmer behaviour are failing to curb the problem. As part of a five-year, government funded, research programme to address herbicide resistance in New Zealand, social science theory and practice are being utilised to investigate the complexities of managing herbicide use and controlling resistance. As an initial step, we are utilising a transdisciplinary, multi-level systems approach to examine the problem definition, knowledge beliefs, attitudes and values of different important actors in the agri-business sector. In this paper, we report early project results from qualitative research examining the similarities and contrasts in the perceptions of scientists, farmer/growers, and rural professionals.

Keywords: behaviour change, herbicide resistant weeds, knowledge beliefs, systems perspective

Procedia PDF Downloads 124

Authors: Ho Wen Hui, Azwina Wati Abdull Manaf, Asfarina Kartika Mohd Shakri

Abstract:

The global trend of Fintech had taken the Malaysian shore by storm in recent years, thus making the studies and observations of its impacts more critical than ever. Additionally, Fintech has grown to become an unavoidable subject in the Islamic Banking and Finance (IBF) industry. In relation to that, this paper seeks to analyze the development of Fintech parallel with the IBF industry and its connection to Islamic economics. While the scarcity of studies on this area is apparent, it is found that there is a need to regulate the development of the Fintech Industry and its effects while analyzing the ramifications and positive effects of Fintech towards parties involved in IBF industry. This paper objectively studies the phenomenon of Islamic Fintech around the world as a whole as well as more specifically in Malaysia. The paper will then explore on the existing regulatory instruments in Malaysia, study their boundaries as well as limitations and contribute on possible reform to regulate Islamic Fintech in this jurisdiction. It is aimed that this paper will prompt and encourage more thorough studies to be conducted on the topic of Fintech which would subsequently contribute to a positive growth of the IBF industry worldwide.

Keywords: financial technology, FinTech, Islamic banking & finance, regulation

Procedia PDF Downloads 228

Authors: Richard Ssempala, Francis Kintu, Christine K. Tashobya

Abstract:

Funding for health remains a key constraint facing many developing countries, Uganda inclusive. Uganda’s health sector budget to the national budgetary allocation has stagnated between 8.2% to 10% over the years. Using data collected from different government documents, we sought to establish the implications of the budget allocation over the period (FY2010/11-2018/19) on health services delivery in Uganda to inform policymakers specifically Members of Parliament who are critical in making sectorial allocation on the steps they can adapt to change the terrain of health financing in Uganda. Findings revealed that the contribution of public funding to the health sector is low (15.7%) with private sources (42.6%) and donors contributing much more, with the bulk of private funds, are out of pocket. The study further revealed that low budget allocation had been manifested in inadequate and poorly motivated health workers, essential drug stock-outs that ultimately contribute to poor access to services, catastrophic health expenditures, and high morbidity rates. We recommend for a substantial and sustained increase in the government health budget, optimizing the available resources by addressing wastages, prioritizing health promotion, prevention and finally, institutionalizing the National Health Insurance Scheme.

Keywords: budget allocations, universal health coverage, health service delivery, Uganda

Procedia PDF Downloads 190

Authors: Pradyumna Mohanty

Abstract:

The paper aims to explore whether accounting information of Indian companies in the Steel sector are value relevant or not. Ohlson’s model which usually takes into consideration book value per share (BV) and earnings per share (EARN) has been used and the same has been expanded to include two more variables such as cash flow from operations (CFO) and return on equity (ROE). The data were collected from CMIE-Prowess data base in respect of BSE-listed steel companies and the time frame spans from 2010 to 2014. OLS regression has been used to test the value relevance of these accounting numbers. Results indicate that both CFO and BV are having significant influence on the stock price in two out of five years of study. But, BV is emerging as the most significant and highly value relevant of all the four variables during the entire period of study.

Keywords: value relevance, accounting information, book value per share, earnings per share

Procedia PDF Downloads 158

Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

Abstract:

On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

Procedia PDF Downloads 361

Authors: Matthew B. Davis, Amit Kumar

Abstract:

With potentially dangerous impacts of climate change on the horizon, Canada has an opportunity to take a lead role on the international stage to demonstrate how energy use intensity and greenhouse gas emission intensity may be effectively reduced. Through bottom-up modelling of Canada’s energy sector using Long-range Energy Alternative Planning (LEAP) software, it can be determined where efforts should to be concentrated to produce the most positive energy management results. By analyzing a provincially integrated Canada, one can develop strategies to minimize the country’s economic downfall while transitioning to lower-emission energy technologies. Canada’s electricity sector plays an important role in accommodating these transitionary technologies as fossil-fuel based power production is prevalent in many parts of the country and is responsible for a large portion (17%) of Canada’s greenhouse gas emissions. Current findings incorporate an in-depth model of Canada’s current energy supply and demand sectors, as well as a business-as-usual scenario up to the year 2035. This allows for in-depth analysis of energy flow from resource potential, to extraction, to fuel and electricity production, to energy end use and emissions in Canada’s residential, transportation, commercial, institutional, industrial, and agricultural sectors. Bottom-up modelling techniques such as these are useful to critically analyze and compare the various possible scenarios of implementing sustainable energy measures. This work can aid government in creating effective energy and environmental policies, as well as guide industry to what technology or process changes would be most worthwhile to pursue.

Keywords: energy management, LEAP, energy end-use, GHG emissions

Procedia PDF Downloads 301

Authors: Ida Rosada, Nurliani

Abstract:

Today, the number of women who seek additional income to help her husband is increasing. They do that in order to be able to express themselves in the midst of the family and society. Nonetheless, housewives are in charge of managing family’s income and prepare food for the family. The objective of this research is 1) to analyze the effect of the dual role of women to household income and 2) to analyze the effect of the dual role to consumption patterns. The study used a qualitative approach, data collection techniques are through observation, interviews, and documentation on farming households. The data was analysed qualitative descriptively. The results found that: 1) The revenue contribution of women who play double role in the informal sector amounted to 34.07% (less than 50%). 2) The main reason that the respondents worked in the informal sector is to be able to send their children to school (34%) and to improve household economy condition (28%). 3) After earning additional income, respondents said that they can contribute to increase the family’s income and to cover the family shortage (82%); 4) Respondents’ opinion to changes in food consumption after performing the dual role is the ability to purchase and provide the desired food (44%) and changing patterns of consumption per day (30%).

Keywords: dual role, the informal sector, consumption patterns, household income

Procedia PDF Downloads 264