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Authors: Marwa Abdulsalam, Osamu Suzuki, Wirawan Dony Dahana

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One of the remarkable and unique industries in Japan is the food samples industry which can be noticed in most of the restaurants located around Japan. However, the market is getting saturated, which has pushed Japanese food sample manufacturers to start exploring new international markets. Most of the markets they explored were in the East Asian region, such as China or Korea. In this research, we examine the feasibility and the potential adoption rate of food samples in the international market outside the East Asian region. The main focus of this study is on the Saudi Arabian market. Nonetheless, since Saudi Arabia is a big market, the study results could possibly be applied to the international market as well. The study has conducted a quantitative survey to test the potential of the food samples industry in Saudi Arabia especially in 4 major cities: Jeddah, Mecca, Riyadh, and Dammam. The survey also tests the willingness to purchase, the average price point that the consumer is willing to pay for food samples, and the factors that drive restaurant owners to adopt the food samples system. The study created a correlation analysis between different factors, such as the geographic factor and the size of the restaurant factor, to examine the effect of different aspects on the purchasing decision. The study has found that the Japanese food samples system is predicted to adapt successfully in the Saudi Arabian market and in the international market alike due to the high importance of the food culture and the existence of the communication challenges that the food samples can solve. Additionally, the market survey stated in this study indicated that 83% of the restaurants’ managers are willing to adopt this system in their restaurants.

Keywords: food samples, innovative marketing, international market, marketing method

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Authors: Kiran Bala Das

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This paper examines the Ukraine wheat export condition after Russian-Ukrainian military confrontation. The political conflict in Ukraine and the recent military intervention of Russia in Crimea is raising concern full effect of the events there is still uncertain, but some hints can be seen in the wheat market by analyzing the trend and pattern of Ukraine wheat export. Crimea is extremely important as it is where most of Ukraine grain exported by ship from its ports of the black sea. Ukraine is again seeking to establish itself a significant exporter of agricultural product with its rich black soil, it is chornozem the top soil layer that makes the country soil so fertile and become one of the major exporter of wheat in the world, its generous supplier of wheat make Ukraine 'Bread basket of Europe'. Ukraine possesses 30% of the world’s richest black soil; its agricultural industry has huge potential especially in grains. European Union (EU) is a significant trading partner of Ukraine but geopolitical tension adversely affects the wheat trade from black sea, which threatens Europe breadbasket. This study also highlights an index of export intensity to analyze the intensity of existing trade for the period 2011-2014 between Ukraine and EU countries. The result show export has intensified over the years, but this year low trade intensity. The overall consequence is hard to determine but if the situation deteriorates and Ukraine cutoff export, international wheat price will hike and grain prices (wheat) also come under the current circumstances and the recent development indicates how the grain market get affected and Agri future now in danger in Ukraine, and its forecast that Ukraine harvest low wheat crop this year and projected decline in export of wheat.

Keywords: breadbasket of Europe, export intensity index, growth rate, wheat export

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Authors: Alma Lucero Ortiz, Mario Gomez

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Technological advances contribute to the well-being of humanity by allowing man to perform in a more efficient way. Technology offers tangible advantages to countries with the adoption of information technologies, communication, and the Internet in all social and productive sectors. The Internet is a networking infrastructure that allows the communication of people throughout the world, exceeding the limits of time and space. Nowadays the internet has changed the way of doing business leading to a digital economy. In this way, e-commerce has emerged as a commercial transaction conducted over the Internet. For this inquiry e-commerce is seen as a source of economic growth for the country. Thereby, these research aims to answer the research question, which are the main variables that have affected the development of e-commerce in Mexico. The research includes a period of study from 1990 to 2017. This inquiry aims to get insight on how the independent variables influence the e-commerce development. The independent variables are information infrastructure construction, urbanization level, economic level, technology level, human capital level, educational level, standards of living, and price index. The results suggest that the independent variables have an impact on development of the e-commerce in Mexico. The present study is carried out in five parts. After the introduction, in the second part, a literature review about the main qualitative and quantitative studies to measure the variables subject to the study is presented. After, an empirical study is applied through time series data, and to process the data an econometric model is performed. In the fourth part, the analysis and discussion of results are presented, and finally, some conclusions are included.

Keywords: digital economy, e-commerce, econometric model, economic growth, internet

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Authors: Young-Min Kang

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M-type Sr-hexaferrites (SrFe12O19) is one of the most utilized materials in permanent magnets due to their low price, outstanding chemical stability, and appropriate hard magnetic properties. For a M-type Sr-hexaferrite with a saturation magnetization (MS) of ~74.0 emu/g the practical limits of remanent flux density (Br) and maximum energy product (BH) max are ~4.6 kG and ~5.3 MGOe. Meanwhile, W-type hexaferrite (SrFe18O27) with higher MS ~81emu/g can be a good candidate for the development of enhanced ferrite magnet. However the W-type hexaferrite is stable at the temperature over 1350 ºC in air, and thus it is hard to control grain size and the coercivity. We report here high-MS M-W composite hexaferrites synthesized at 1250 ºC in air by doping Ca, Co, Mn, and Zn into the hexaferrite structures. The hexaferrites samples of stoichiometric SrFe12O19 (SrM) and Ca-Co-Mn-Zn doped hexaferrite (Sr0.7Ca0.3Fen-0.6Co0.2Mn0.2Zn0.2Oa) were prepared by conventional solid state reaction process with varying Fe content (10 ≤ n ≤ 17). Analysis by x-ray diffraction (XRD) and field emission scanning electron microscopy (FE-SEM) were performed for phase identification and microstructural observation respectively. Magnetic hysteresis curves were measured using vibrating sample magnetometer (VSM) at room temperature (300 K). Single M-type phase could be obtained in the non-doped SrM sample after calcinations at the range of 1200 ºC ~ 1300 ºC, showing MS in the range of 72 ~ 72.6 emu/g. The Ca-Co-Mn-Zn doped SrM with Fe content, 10 ≤ n ≤ 13, showed both M and W-phases peaks in the XRD after respective calcinations at 1250 ºC. The sample with n=13 showed the MS of 70.7, 75.3, 78.0 emu/g, respectively, after calcination at 1200, 1250, 1300 ºC. The high MS over that of non-doped SrM (~72 emu/g) is attributed to the volume portion of W-phase. It is also revealed that the high MS W-phase could not formed if only one of the Ca, Co, Zn is missed in the substitution. These elements are critical to form the W-phase at the calcinations temperature of 1250 ºC, which is 100 ºC lower than the calcinations temperature for non-doped Sr-hexaferrites.

Keywords: M-type hexaferrite, W-type hexaferrite, saturation magnetization, low-temperature synthesis

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Authors: R. T. Aggangan, R. J. Cabangon

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Bamboo is getting worldwide attention over the last 20 to 30 years due to numerous uses and it is regarded as the closest material that can be used as substitute to wood. In the domestic market, high quality bamboo products are sold in high-end markets while lower quality products are generally sold to medium and low income consumers. The global market in 2006 stands at about 7 billion US dollars and was projected to increase to US$ 17 B from 2015 to 2020. The Philippines had been actively producing and processing bamboo products for the furniture, handicrafts and construction industry. It was however in 2010 that the Philippine bamboo industry was formalized by virtue of Executive Order 879 that stated that the Philippine bamboo industry development is made a priority program of the government and created the Philippine Bamboo Industry Development Council (PBIDC) to provide the overall policy and program directions of the program for all stakeholders. At present, the most extensive use of bamboo is for the manufacture of engineered bamboo for school desks for all public schools as mandated by EO 879. Also, engineered bamboo products are used for high-end construction and furniture as well as for handicrafts. Development of cheap adhesives, preservatives, and finishing chemicals from local species of plants, development of economical methods of drying and preservation, product development and processing of lesser-used species of bamboo, development of processing tools, equipment and machineries are the strategies that will be employed to reduce the price and mainstream engineered bamboo products in the local and foreign market. In addition, processing wastes from bamboo can be recycled into fuel products such as charcoal are already in use. The more exciting possibility, however, is the production of bamboo pellets that can be used as a substitute for wood pellets for heating, cooking and generating electricity.

Keywords: bamboo charcoal and light distillates, engineered bamboo, furniture and handicraft industries, housing and construction, pellets

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Authors: Floris Burgers, Arjan Verschoor

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Poor farmers in developing countries typically do not have the resources or access to institutions to protect themselves against all kinds of income shocks, which makes their farm income highly sensitive to weather and crop price fluctuations, and various other intervening forces. Consequently, the relationship between farming effort and farming outcomes can be noisy, potentially resulting in a situation in which farmers perceive little personal control over the outcomes of their farming efforts. This perceived lack of control can result in learned helplessness in some farmers, who would then be less motivated to invest in their farm. This paper presents the results of a household survey and controlled field experiment conducted in ten villages in a farming area in eastern Uganda with a view to examining the link between learned helplessness and agricultural investment. The results show that (I) farmers with a more pessimistic attributional style for negative life events invest less in their farm, (II) an experience of uncontrollability over income in a priming task increases investment in the farm in a subsequent task if losses in the priming task are small, and decreases investment in the subsequent task if losses are moderate or big, and (III) the relationship between the number of income shocks experienced in the past two years and investment in the farm is more negative among farmers with a more pessimistic attributional style. These results are in line with the reformulated learned helplessness theory underlying this research, which leads this paper to conclude that learned helplessness can cause agricultural underinvestment in a developing country context, potentially contributing to a poverty trap.

Keywords: agricultural investment, attributional style, farmers, learned helplessness, poverty, income shocks

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Authors: Chia-Chia Chang, Jhen-Ting Huang, Hu-Cheng Weng, An-Ya Lo

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This study developed a simple hierarchical porous carbon (HPC) synthesis process and used for supercapacitor application. In which, mesopore provides huge specific surface area, meanwhile, macropore provides excellent mass transfer. Thus the hierarchical porous electrode improves the charge-discharge performance. On the other hand, cerium oxide (CeO2) have also got a lot research attention owing to its rich in content, low in price, environmentally friendly, good catalytic properties, and easy preparation. Besides, a rapid redox reaction occurs between trivalent cerium and tetravalent cerium releases oxygen atom and increase the conductivity. In order to prevent CeO2 from disintegration under long-term charge-discharge operation, the CeO2 carbon porous materials were was integrated as composite material in this study. For in the ex-situ analysis, scanning electron microscope (SEM), X-ray diffraction (XRD), transmission electron microscope (TEM) analysis were adopted to identify the surface morphology, crystal structure, and microstructure of the composite. 77K Nitrogen adsorption-desorption analysis was used to analyze the porosity of each specimen. For the in-situ test, cyclic voltammetry (CV) and chronopotentiometry (CP) were conducted by potentiostat to understand the charge and discharge properties. Ragone plot was drawn to further analyze the resistance properties. Based on above analyses, the effect of macropores/mespores and the CeO2/HPC ratios on charge-discharge performance were investigated. As a result, the capacitance can be greatly enhanced by 2.6 times higher than pristine mesoporous carbon electrode.

Keywords: hierarchical porous carbon, cerium oxide, supercapacitor

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Authors: Ifeanyichukwu Edeh, Tim Overton, Steve Bowra

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Currently biodiesel is produced from plant oils or animal’s fats by a liquid-phase catalysed transesterification process at low temperature. Although biodiesel is renewable and to a large extent sustainable, inherent properties such as poor cold flow, low oxidation stability, low cetane value restrict application to blends with fossil fuels. An alternative to biodiesel is renewable diesel produced by catalytic hydrotreating of oils and fats and is considered a drop in fuel because its properties are similar to petroleum diesel. In addition to developing alternative productions routes there is continued interest in reducing the cost of the feed stock, waste cooking oils and fats are increasingly used as the feedstocks due to low cost. However, use of oils and fat are highly adulterated resulting in high free fatty acid content which turn impacts on the efficiency of FAME production. Therefore, in light of the need to develop, alternative lipid feed stocks and related efficient catalysis the present study investigates the potential of producing renewable diesel from the lipids-extracted from activated sludge, a waste water treatment by-product, through catalytic hydrothermal decarboxylation. The microbial lipids were first extracted from the activated sludge using the Folch et al method before hydrothermal decarboxylation reactions were carried out using palladium (Pd/C) and platinum (Pt/C) on activated carbon as the catalysts in a batch reactor. The impact of three temperatures 290, 300, 330 °C and residence time between 30 min and 4hrs was assessed. At the end of the reaction, the products were recovered using organic solvents and characterized using gas chromatography (GC). The principle products of the reaction were pentadecane and heptadecane. The highest yields of pentadecane and heptadecane from lipid-extract were 23.23% and 15.21%, respectively. These yields were obtained at 290 °C and residence time 1h using Pt/C. To the best of our knowledge, the current work is the first investigation on the hydrothermal decarboxylation of lipid-extract from activated sludge.

Keywords: activated sludge, lipid, hydrothermal decarboxylation, renewable diesel

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Authors: Alireza Naserpoor

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Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives.

Keywords: futures contracts, hedging, shari’ah compliant instruments, standard parallel salam

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Authors: Dariusz Jemielniak

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The near future will bring significant changes to contemporary organizations and management, because of the rapidly increasing role of immaterial goods and knowledge workers. The area of copyright, IP, as well as digital (non-material) goods and media redistribution seems to be one of the major challenges for the economy and society in general, and management and organization studies in particular. The proposed paper shows the views and perceptions of fairness of digital media sharing among Harvard Law School LL.M. students, basing on 50 qualitative interviews and 100 questionnaires. The researcher took an ethnographic approach to the study and joined the 2016 Harvard LL.M. Facebook group, which allowed natural socializing and joining for in-person events and private parties more easily. After making acquaintance with many of the students, the researcher conducted a quantitative questionnaire with 100 respondents, allowing to better understand the respondents perception of fairness in digital files sharing in different contexts (depending on the price of the media, its availability, regional licensing, status of the copyright holder, etc.). Basing on the results of the questionnaire, the researcher followed up with long-term, open ended, loosely structured ethnographic interviews (50 interviews were conducted) to further deepen the understanding of the results. The major finding of the study is that Harvard lawyers, in spite of the highest possible understanding of law, as well as professional standards, generally approve of digital piracy in certain contexts. Interestingly, they are also more likely to approve of it if they work for the government rather than the private sector. The conclusions from this study allow a better understanding of how ‘fairness’ is perceived by the younger generation of law professionals, and also open grounds for a more rational licensing policing.

Keywords: piracy, digital sharing, perception of fairness, legal profession

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Authors: Papazafeiropoulou Olga

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The “Athens Dramatic Company” was one of the longest-running and most widely traveled troupes in the history of modern Greek theatre. The theatre company had been established since 1887, and the following: Euthychios Vonaseras, Eleni Kotopoulis, etc., like the founder of the troupe Theodoros Pofantis, referred to the distribution of the works presented in Patras: The price of a crime, The niece of her uncle, Agathopoulos, Amphitryon, The Two Sergeants, Lawyer and Actors, The Crusaders, The Daughter of Pantopolos, He Will Kill Himself, Macbeth, The Two Orphans, The Auction, Pistis Hope and Mercy, Love Attempt, The Crusaders, The lady is in Loutra, Markos Votsaris. In 1921, after peregrinations in Cyprus, Constantinople, Romania, Crete, Thessaloniki, Volos, Smyrna, the “Athens Dramatic Company” toured in Africa, where the Greek communities flourished. In 1923, the collaborations of troupe’s members and the repertoire varied several times, such as in Johannesburg, from where they traveled via Cape Town to Australia, where they presented the works: Dikaioma o Eros, Enochos, Psychokori, Kolokotronis. Atimoi, Voskopoula, Golfo, etc., while they impressed with the tragedy Oedipus Tyrannus, which was watched by Australians. Alongside the “Athens Dramatic Company” was also touring “Vrysoula’s Pantopoulos Troupe” and most of the members of the two troupes went to America, uniting their formation. In 1927, the old leader of “Athens Dramatic Company” (Theodoros Pofantis) decided to re-establish his troupe, but after unpleasant adventures, he passed away. In the year 1934, the Greek Dramatic Troupe of Athens revived with works including: The Man of the Day, A Dying Heart, A Dream Was and Gone, An Inspection, The Two Sergeants, The Mother, the Father-in-Law and the Non-existent Son-in-law, before finally expiring in 1935, after nearly 40 years of historical passage.

Keywords: athens, dramatic, company, universal, troupe

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Authors: Eid Alotaibi

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The purpose of this study is to investigate the impact of tourists’ culture on perception and evaluation of hotel service experience and behavioral intentions. Drawing on Hofested’s cultural dimensions, this study seeks to further contribute towards understanding the effect of culture on perception and evaluation of hotels’ services, and whether there are differences between Saudi and European tourists’ perceptions of hotel services evaluation. A descriptive cross-sectional design was used in this study. Data were collected from tourists staying in five-star hotels in Saudi Arabia using the self-completion technique. The findings show that evaluations of hotel services differ from one culture to another. T-test results reveal that Saudis were more tolerant and reported significantly higher levels of satisfaction, were more likely to return and recommend the hotel, and perceived the price for the hotel stay as being good value for money as compared to their European counterparts. The sample was relatively small and specific to only five-star hotel evaluations. As a result, findings cannot be generalized to the wider tourist population. The results of this research have important implications for management within the Saudi hospitality industry. The study contributes to the tourist cultural theory by emphasizing the relative importance of cultural dimensions in-service evaluation. The author argues that no studies could be identified that compare Saudis and Europeans in their evaluations of their experiences staying at hotels. Therefore, the current study would enhance understanding of the effects of cultural factors on service evaluations and provide valuable input for international market segmentation and resource allocation in the Saudi hotel industry.

Keywords: culture, tourist, service experience, hotel industry, Hofested’s cultural dimensions

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Authors: M. Chen, H. Lee, D. M. Weary

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China is the world’s largest egg producer, with more than 90% of production occurring in conventional cages. Cage-free housing systems offer the potential for improving hen welfare, but the growth of this system requires consumer demand, making it is important to understand consumers’ willingness to engage with cage-free eggs. Previous survey research indicates that the majority of Chinese consumers have a basic understanding of cage-free eggs and that some are willing to pay a price premium for these eggs. The aim of this research is to understand consumer behaviour, experience, and motivations when purchasing cage-free eggs in China. Purposive sampling will be used to select 20 participants from each of 2 groups: 1) consumers of cage-free eggs and 2) sales representatives who promote these eggs directly to consumers in supermarkets. This 4-month study will use methods of virtual ethnography to interact with participants repeatedly. Consumers will be asked to share their egg shopping, cooking, and eating experiences, and sales representatives will be asked to share their experiences promoting the eggs to consumers. Data collection will involve audio-recorded interviews, informal conversations (casual texts and calls), participant observation (video calling during shopping, cooking, and eating), and informant diaries (written reflections, photos, videos). All data (field notes, transcripts, diaries, photos, and videos) will be analyzed using Thematic Analysis. We expect that these will result in a nuanced understanding of consumer purchasing behaviour and motivation and will thus help identify strategies to promote higher animal welfare and cage-free egg products in China.

Keywords: animal welfare, cage-free eggs, China, consumer behaviour, ethnography

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Authors: Mónica Arroyo

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South America shows increasing decline in regional export values in the last years, after a strong growth of trade flows especially with China up to 2013. This change is due to the end of the commodity price boom, the slowing of the Chinese economy and the effects of the 2008 economic crisis. This paper examines the integration of regional economies in this context, particularly the situation in Brazil and Argentina. Based on transformations over the last two decades, the analysis is focused on the spatial circuits of production linked to foreign markets, contributing to the understanding of the different uses of territory and the within-country inequality. The South American regional exports, consisting basically of raw materials, are concentrated in a few companies. Large areas are intended for the production of agriculture and mining commodities, under the command of major economic groups, both domestic and foreign, relegating the local population to less productive places or, in most cases, forcing them to change their activity and to migrate to other regions in search of some source of income. On the other hand, the dynamics of these commodities’ spatial circuits of production print requirements in territories in terms of infrastructure and regulation. Capturing this movement requires understanding businesses and government’s role in territorial regulation, and consequently how regional systems are changing – for instance, economic specialisation, growing role of services, investment in roads, railways, ports, and airports. This paper aims to highlight topics for discussion on regional economic dynamics and their different degrees of internationalisation. The intention is to contribute to the debate about the relations between trade, globalization, and development.

Keywords: regional inequality, international trade, developing world, South America

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Authors: Minsun Kim

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This study uses the concepts of augmented reality, virtual reality, mirror world, and lifelogging to describe “Metaverse Kitchen” that can be defined as a space in the virtual world where users can cook the dishes they want using the meal kit regardless of location or time. This study examined expert’s perceptions of cooking and food delivery services using "Metaverse Kitchen." In this study, a consensus opinion on the concept, potential pros, and cons of "Metaverse Kitchen" was derived from 20 culinary experts through the Delphi technique. The three Delphi rounds were conducted for one month, from December 2022 to January 2023. The results are as follows. First, users select and cook food after visiting the "Metaverse Kitchen" in the virtual space. Second, when a user cooks in "Metaverse Kitchen" in AR or VR, the information is transmitted to nearby restaurants. Third, the platform operating the "Metaverse Kitchen" assigns the order to the restaurant that can provide the meal kit cooked by the user in the virtual space first in the same way among these restaurants. Fourth, the user pays for the "Metaverse Kitchen", and the restaurant delivers the cooked meal kit to the user and then receives payment for the user's meal and delivery fee from the platform. Fifth, the platform company that operates the mirror world "Metaverse Kitchen" uses lifelogging to manage customers. They receive commissions from users and affiliated restaurants and operate virtual restaurant businesses using meal kits. Among the selection attributes for meal kits provided in "Metaverse Kitchen", the panelists suggested convenience, quality, and reliability as advantages and predicted relatively high price as a disadvantage. "Metaverse Kitchen" using meal kits is expected to form a new food supply system in the future society. In follow-up studies, an empirical analysis is required targeting producers and consumers.

Keywords: metaverse, meal kits, Delphi technique, Metaverse Kitchen

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Authors: Supakij Saisopon

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The process of economic development incurs spatial transformation. This spatial alternation also causes environmental impacts, leading to higher pollution. In the case of Thailand, there is still a lack of price-endogenous quantitative analysis incorporating relationships among economic growth, land-use change, and environmental impact. Therefore, this paper aimed at developing the Computable General Equilibrium (CGE) model with the capability of stimulating such mutual effects. The developed CGE model has also incorporated the nested constant elasticity of transformation (CET) structure that describes the spatial redistribution mechanism between agricultural land and urban area. The simulation results showed that the 1% decrease in the availability of agricultural land lowers the value-added of agricultural by 0.036%. Similarly, the 1% reduction of availability of urban areas can decrease the value-added of manufacturing and service sectors by 0.05% and 0.047%, respectively. Moreover, the outcomes indicate that the increasing farming and urban areas induce higher volumes of solid waste, wastewater, and air pollution. Specifically, the 1% increase in the urban area can increase pollution as follows: (1) the solid waste increase by 0.049%, (2) water pollution ̶ indicated by biochemical oxygen demand (BOD) value ̶ increase by 0.051% and (3) air pollution ̶ indicated by the volumes of CO₂, N₂O, NOₓ, CH₄, and SO₂ ̶ increase within the range of 0.045%–0.051%. With the simulation for exploring the sustainable development path, a 1% increase in agricultural land use efficiency leads to the shrinking demand for agricultural land. But this is not happening in urban, a 1% scale increase in urban utilization results in still increasing demand for land. Therefore, advanced clean production technology is necessary to align the increasing land-use efficiency with the lowered pollution density.

Keywords: CGE model, CET structure, environmental impact, land use

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Authors: Abdul-Nasser El-Kassar, Walid Elgammal, Hisham Jawhar

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This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits.

Keywords: dividends payout ratio, profitability firm size, free cashflow, debt to equity ratio

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Authors: Anees Tahir

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Margin financing plays a significant role in Pakistan's stock market (PSX), offering investors the opportunity to maximize profits by borrowing funds from financiers to purchase marginable stocks. However, this financial practice raises several Shariah-related concerns. The study follows legal doctrinal research methodology. It explains and analyzes the law of margin financing prevailing in PSX and compares it with the principles of Shariah. It also examines and investigates the practices of margin financing from the perspective of Shariah. As part of the study, the researcher has conducted structured interviews with the Shariah advisors of the finance industry, academicians, market practitioners, and regulators. Thus, the study analyzes the findings of interviews. This article explores the legal framework and practice of margin financing in Pakistan from a Shariah perspective. The article investigates various issues relating to margin financing, including the fundamental concern of interest-based lending, which contravenes Islamic principles. It also highlights the problematic subject matter of margin financing, often involving non-Shariah compliant securities. Additionally, the article addresses the restriction on proprietary rights and the problematic element of speculation associated with margin financing. To provide a Shariah-compliant alternative, the Securities and Exchange Commission of Pakistan (SECP) introduced Murabahah Shares Financing (MSF) in 2019. However, the focus of the market is still on conventional margin financing. In the opinion of the researcher, the effective implementation of MSF is imperative because in the absence of such an alternative, the faith sensitive investor will remain deprived of a level playing field, and he is unable to get required financing opportunities through a halal and Shariah-compliant manner. This article argues that margin financing in its current form is incompatible with Shariah principles and should be discontinued. It is recommended that the SECP should gradually phase out the use of margin financing and increase reliance on MSF to provide faith-sensitive and committed investors with Shariah-compliant financing options.

Keywords: margin financing, marginable stocks, faith sensitive investor, Murabahah shares financing

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Authors: McKenna Halverson, Allison Karpyn

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Introduction: The COVID-19 pandemic posed unprecedented challenges for families with young children in the United States. The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), a federal nutrition assistance program that provides low-income mothers and young children with access to healthy foods (e.g., infant formula, milk, and peanut butter), mitigated some financial challenges for families. However, the U.S. experienced a national infant formula shortage and rising inflation rates during the pandemic, which likely impacted WIC participants’ shopping experiences and well-being. As such, this study aimed to characterize how the COVID-19 pandemic and related events impacted Delaware WIC participants’ in-store benefit redemption experiences and overall well-being. Method: The authors conducted semi-structured interviews with 51 WIC participants in Wilmington, Delaware. Survey measures included demographic questions and open-ended questions regarding participants’ experiences with WIC benefit redemption during the COVID-19 pandemic. Data were analyzed using a hybrid inductive and deductive coding approach. Findings: The COVID-19 pandemic significantly impacted WIC participants’ shopping experiences and well-being. Specifically, participants were forced to alter their shopping behaviors to account for rising food prices (e.g., used coupons, bought less food, used food banks). Additionally, WIC participants experienced significant distress during the national infant formula shortage resulting from difficulty finding formula to feed their children. Participants also struggled with in-store benefit redemption due to inconsistencies in shelf labelling, the WIC app, and low stock of WIC foods. These findings highlight the need to reexamine WIC operations and emergency food response policy in the United States during times of crisis to optimize public health and ensure federal nutrition assistance programs meeting the needs of low-income families with young children.

Keywords: benefit redemption, COVID-19 pandemic, infant formula shortage, inflation, shopping, WIC

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Authors: Piluntana Panpluem, Monticha Putsakum

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The objectives of this study were to investigate 1) consumers’ behaviors in buying organic products; and 2) the relationships between personal factors, cultural factors, social factors, psychological factors and marketing mix factors, and the behavior in buying organic products of consumers in the greater Bangkok metropolitan area. The sample group was 400 consumers at the age of 15 and older, who bought organic agricultural products from green markets and green shops in Bangkok, including its suburbs. The data were collected by using a questionnaire, which were analyzed by descriptive statistics and chi-square test. The results showed that the consumers bought 3 – 4 types of fresh vegetables with a total expenditure of less than 499 Baht each time. They purchased organic products mainly at a supermarket, 2 – 4 times per month, most frequently on Sundays, which took less than 30 minutes of shopping each time. The purpose of the purchase was for self-consuming. Gaining or retaining good health was the reason for the consumption of the products. Additionally, the first considered factor in the organic product selection was the quality. The decisions in purchasing the products were made directly by consumers, who were influenced mainly by advertising media on television. For the relationships among personal, cultural, social, psychological and marketing mix factors, and consumers’ behavior in buying organic products, the results showed the following: 1) personal factors, which were gender, age and educational level, were related to the behavior in terms of “What”, “Why”, and “Where” the consumers bought organic products (p<0.05); 2) cultural factors were related to “Why” the consumers bought organic products (p<0.05); 3) social factors were related to “Where” and “How” the consumers bought organic products (p<0.05); 4) psychological factors were related to “When” the consumers bought organic products (p<0.05). 5) For the marketing mix factors, “Product” was related to “Who participated” in buying, “What” and “Where” the consumers bought organic products (p<0.05), while “Price” was related to “What” and “When” the consumers bought organic products (p<0.05). “Place” was related to “What” and “How” the consumers bought organic products (p<0.05). Furthermore, “Promotion” was related to “What” and “Where” the consumers bought organic products (p<0.05).

Keywords: consumer behavior, organic products, Bangkok Metropolis and Vicinity

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Authors: Prima Fithri, Lusi Susanti, Karin Bestarina

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Indonesia's electrification ratio is still around 80.1%, which means that approximately 19.9% of households in Indonesia have not been getting the flow of electrical energy. Household electricity consumptions in Indonesia are generally still dominated by the public urban. In the city of Padang, West Sumatera, Indonesia, about 94.10% are power users of government services (PLN). The most important thing of the issue is human resources efficient energy. Consumer behavior in utilizing electricity becomes significant. Intensive questioner survey, in-depth interview and statistical analysis are carried out to collect scientific evidences of the behavioral based changes instruments to reduce electricity consumption in household sector. The questioner was developed to include five factors assuming affect the electricity consumption pattern in household sector. They are: attitude, energy price, household income, knowledge and other determinants. The survey was carried out in Padang, West Sumatra Province Indonesia. About 210 questioner papers were proportionally distributed to households in 11 districts in Padang. Stratified sampling was used as a method to select respondents. The results show that the household size, income, payment methods and size of house are factors affecting electricity saving behavior in residential sector. Household expenses on electricity are strongly influenced by gender, type of job, level of education, size of house, income, payment method and level of installed power. These results provide a scientific evidence for stakeholders on the potential of controlling electricity consumption and designing energy policy by government in residential sector.

Keywords: electricity, energy saving, household, behavior, policy

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Authors: Neha Devi, P. K. Joshi

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Fire fuel map is one of the most critical factors for planning and managing the fire hazard and risk. One of the most significant forms of global disturbance, impacting community dynamics, biogeochemical cycles and local and regional climate across a wide range of ecosystems ranging from boreal forests to tropical rainforest is wildfire Assessment of fire danger is a function of forest type, fuelwood stock volume, moisture content, degree of senescence and fire management strategy adopted in the ground. Remote sensing has potential of reduction the uncertainty in mapping fuels. Hyperspectral remote sensing is emerging to be a very promising technology for wildfire fuels characterization. Fine spectral information also facilitates mapping of biophysical and chemical information that is directly related to the quality of forest fire fuels including above ground live biomass, canopy moisture, etc. We used Hyperion imagery acquired in February, 2016 and analysed four fuel characteristics using Hyperion sensor data on-board EO-1 satellite, acquired over the Shiwalik Himalayas covering the area of Champawat, Uttarakhand state. The main objective of this study was to present an overview of methodologies for mapping fuel properties using hyperspectral remote sensing data. Fuel characteristics analysed include fuel biomass, fuel moisture, and fuel condition and fuel type. Fuel moisture and fuel biomass were assessed through the expression of the liquid water bands. Fuel condition and type was assessed using green vegetation, non-photosynthetic vegetation and soil as Endmember for spectral mixture analysis. Linear Spectral Unmixing, a partial spectral unmixing algorithm, was used to identify the spectral abundance of green vegetation, non-photosynthetic vegetation and soil.

Keywords: forest fire fuel, Hyperion, hyperspectral, linear spectral unmixing, spectral mixture analysis

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Authors: Razan Salem

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This study aims to investigate the investment behavior of Arab women (in regards to their herding behavior, risk tolerance, confidence and investment literacy levels). This study aims to investigate the relationship between three demographic factors (age, income, education) and the investment behavior of Arab women. On average, women in the Arab region face several obstacles that limit them from fully participating in stocks investments. In the context, this study focuses on extending the existing literature to include Arab women individuals and their investment behaviors. To achieve the study’s objective, the researcher distributed 600 close-ended online questionnaires to a sample of Arab male and female individual investors in both Saudi Arabia and Jordan. The researcher used quantitative statistical methods (frequency distribution along with the Kruskal-Wallis H Test and the Mann-Whitney U Test) to analyze the 550 questionnaire respondents. The findings indicated that only age, educational level, and annual income level are associated with the investment behavior of Arab women, where age is only negatively associated with their financial risk tolerance levels. Additionally, income level is positively associated with Arab women‘s confidence and investment literacy levels, while educational level is only associated positively with their investment confidence levels. According to annual income, Arab women with lower incomes have lower confidence and investment literacy levels. The limited income level might prevent the sample Arab women from investing in the financial information and advisors that may help in improving their investment literacy levels. Furthermore, Arab women with lower educational levels have lower investment literacy levels and thus, this may limit their stock investments. Overall, the study contributes to the existing literature by focusing directly on examining the investment behavior of Arab women and its association with age, annual income, and education. Generally, there are scarce existing studies that investigate the association of demographic factors with the investment behavior of women only in regards to their herding behavior, risk tolerance, investment confidence, and investment literacy levels (combined), especially Arab women investors.

Keywords: Arab region, demographic factors, investment behavior, women investors

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Authors: Ese Urhie, Bosede Olopade, Muyiwa Oladosun, Henry Okodua

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In the past three and half decades, aside from the fact that the contribution of the industrial sector to gross domestic product in Nigeria has nose-dived, its performance has also been highly unstable. Investment funds needed to develop the industrial sector usually come from both internal and external sources. The internal sources include surplus generated within the industrial sector and surplus diverted from other sectors of the economy. It has been observed that due to the small size of the industrial sector in developing countries, very limited funds could be raised for further investment. External sources of funds which many currently industrialized and some ‘newly industrializing countries’ have benefited from including direct and indirect investment by foreign capitalists; foreign aid and loans; and investments by nationals living abroad. Foreign direct investment inflow in Nigeria has been declining since 2009 in both absolute and relative terms. High level of human capital has been identified as one of the crucial factors that explain the miraculous growth of the ‘Asian Tigers’. Its low level has also been identified as the major cause for the low level of FDI flow to Nigeria in particular and Africa in general. There has been positive, but slow improvement in human capital indicators in Nigeria in the past three decades. In spite of this, foreign direct investment inflow has not only been low; it has declined drastically in recent years. i) Why has the improvement in human capital in Nigeria failed to attract more FDI inflow? ii) To what extent does the level of human capital influence FDI inflow in Nigeria? iii) Is there a threshold of human capital stock that guarantees sustained inflow of FDI? iv) Does the quality of human capital matter? v) Does the influence of other (negative) factors outweigh the benefits of human capital? Using time series secondary data, a system of equations is employed to evaluate the effect of human capital on FDI inflow in Nigeria on one hand and the effect of FDI on the level of industrialization on the other. A weak relationship between human capital and FDI is expected, while a strong relationship between FDI and industrial growth is expected from the result.

Keywords: human capital, foreign direct investment, industrialization, gross domestic product

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Authors: Pravin Mishra, Ajeet K. Jha, Pankaj K. Jha

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This technical note is aimed at providing a brief information on goat breeds, its breeding seasonality and different methods of oestrous synchronization for Nepalese goat farmers. It was observed that, these goats are seasonal breeder and showed oestrous during mainly two season; December- February and March-May. This leads to an irregular supply of goat to market and a wide variations in market price. Oestrus synchronization is only an alternative reproductive tool to overcome this scarcity by enhancing production and productivity. This technique enables goat producers breed their animals within a short pre-determined period and permits breeding round the year. The principle of oestrus synchronisation is based on controlling of the luteal phase of the oestrous cycle. There are two basic mechanisms; one by shortening the luteal life (premature luteolysis) using prostaglandins or its analogues and the other by prolonging the luteal life (simulating the activity of natural progesterone produced by the corpus luteum) using exogenous progesterone source. The former is easy to apply and only effective during breeding season, whereas the latter is advantageous when the reproductive status of the goat flock is unknown. The common hormonal products easily available in Nepal includes; prostaglandins or its analogues (Oviprost® Dinoprost® Lutalyse® and Estrumate®), exogenous progesterone (Fluorogestone acetate® and Controlled Internal Drug Release®, CIDR) devices). However, before practicing the oestrous synchronization protocol, it needs to be validated for oestrous response rate, time to onset of oestrous, duration of oestrous and pregnancy rates at farmer’s field. In conclusion, application of oestrus synchronisation practice enhanced goat production and surplus the goat meat demand in Nepal.

Keywords: goat, Nepal, oestrous, synchronization

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Authors: Stanzin Gawa, Nalini Ranjan Kumar, Gohar Bilal Wani, Vinay Maruti Hatte, A. Vinay

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Rainbow trout (Oncorhynchus mykiss) and Brown trout (Salmo trutta fario) are the two species of trout which were once introduced by British in waters of Kashmir has well adapted to favorable climatic conditions. Cold water fisheries are one of the emerging sectors in Kashmir valley and trout holds an important place Jammu and Kashmir fisheries. Realizing the immense potential of trout culture in Kashmir region, the state fisheries department started privatizing trout culture under the centrally funded scheme of RKVY in which they provide 80 percent subsidy for raceway construction and supply of feed and seed for the first year since 2009-10 and at present there are 362 private trout farms. To cater the growing demand for trout in the valley, it is important to understand the bottlenecks faced in the propagation of trout culture. Value chain analysis provides a generic framework to understand the various activities and processes, mapping and studying linkages is first step that needs to be done in any value chain analysis. In Kashmir, it is found that trout hatcheries play a crucial role in insuring the continuous supply of trout seed in valley. Feed is most limiting factor in trout culture and the farmer has to incur high cost in payment and in the transportation of feed from the feed mill to farm. Lack of aqua clinic in the Kashmir valley needs to be addressed. Brood stock maintenance, breeding and seed production, technical assistance to private farmer, extension services have to be strengthened and there is need to development healthier environment for new entrepreneurs. It was found that trout farmers do not avail credit facility as there is no well define credit scheme for fisheries in the state. The study showed weak institutional linkages. Research and development should focus more on applied science rather than basic science.

Keywords: trout, Kashmir, value chain, linkages, culture

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Authors: Bouanati Sidi Mohammed, N. E. Chabane Sari, Mostefa Kara Selma

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It is well-known that Organic light emitting diodes (OLEDs) are attracting great interest in the display technology industry due to their many advantages, such as low price of manufacturing, large-area of electroluminescent display, various colors of emission included white light. Recently, there has been much progress in understanding the device physics of OLEDs and their basic operating principles. In OLEDs, Light emitting is the result of the recombination of electron and hole in light emitting layer, which are injected from cathode and anode. For improve luminescence efficiency, it is needed that hole and electron pairs exist affluently and equally and recombine swiftly in the emitting layer. The aim of this paper is to modeling polymer LED and OLED made with small molecules for studying the electrical and optical characteristics. The first simulation structures used in this paper is a mono layer device; typically consisting of the poly (2-methoxy-5(2’-ethyl) hexoxy-phenylenevinylene) (MEH-PPV) polymer sandwiched between an anode usually an indium tin oxide (ITO) substrate, and a cathode, such as Al. In the second structure we replace MEH-PPV by tris (8-hydroxyquinolinato) aluminum (Alq3). We choose MEH-PPV because of it's solubility in common organic solvents, in conjunction with a low operating voltage for light emission and relatively high conversion efficiency and Alq3 because it is one of the most important host materials used in OLEDs. In this simulation, the Poole-Frenkel- like mobility model and the Langevin bimolecular recombination model have been used as the transport and recombination mechanism. These models are enabled in ATLAS -SILVACO software. The influence of doping and thickness on I(V) characteristics and luminescence, are reported.

Keywords: organic light emitting diode, polymer lignt emitting diode, organic materials, hexoxy-phenylenevinylene

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Authors: Rachel Y. Zhang, Christopher K. Anderson

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A critical aspect of revenue management is a firm’s ability to predict demand as a function of price. Historically hotels have used simple time series models (regression and/or pick-up based models) owing to the complexities of trying to build casual models of demands. Machine learning approaches are slowly attracting attention owing to their flexibility in modeling relationships. This study provides an overview of approaches to forecasting hospitality demand – focusing on the opportunities created by machine learning approaches, including K-Nearest-Neighbors, Support vector machine, Regression Tree, and Artificial Neural Network algorithms. The out-of-sample performances of above approaches to forecasting hotel demand are illustrated by using a proprietary sample of the market level (24 properties) transactional data for Las Vegas NV. Causal predictive models can be built and evaluated owing to the availability of market level (versus firm level) data. This research also compares and contrast model accuracy of firm-level models (i.e. predictive models for hotel A only using hotel A’s data) to models using market level data (prices, review scores, location, chain scale, etc… for all hotels within the market). The prospected models will be valuable for hotel revenue prediction given the basic characters of a hotel property or can be applied in performance evaluation for an existed hotel. The findings will unveil the features that play key roles in a hotel’s revenue performance, which would have considerable potential usefulness in both revenue prediction and evaluation.

Keywords: hotel revenue, k-nearest-neighbors, machine learning, neural network, prediction model, regression tree, support vector machine

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Authors: Thepnarintra Praphanphat

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The purposes of this study were to investigate garment industry’s condition, problems, and need for assistance. The population of the study was 504 managers or managing directors of garment establishments finished apparel industrial manager and permission of the Department of Industrial Works 28, Ministry of Industry until January 1, 2012. In determining the sample size with the opening of the Taro Yamane finished at 95% confidence level is ± 5% deviation was 224 managers. Questionnaires were used to collect the data. Percentage, frequency, arithmetic mean, standard deviation, t-test, ANOVA, and LSD were used to analyze the data. It was found that most establishments were of a large size, operated in a form of limited company for more than 15 years most of which produced garments for working women. All investment was made by Thai people. The products were made to order and distributed domestically and internationally. The total sale of the year 2010, 2011, and 2012 was almost the same. With respect to the problems of operating the business, the study indicated, as a whole, by- aspects, and by-items, that they were at a high level. The comparison of the level of problems of operating garment business as classified by general condition showed that problems occurring in business of different sizes were, as a whole, not different. In taking aspects into consideration, it was found that the level of problem in relation to production was different; medium establishments had more problems in production than those of small and large sizes. According to the by-items analysis, five problems were found different; namely, problems concerning employees, machine maintenance, number of designers, and price competition. Such problems in the medium establishments were at a higher level than those in the small and large establishments. Regarding business age, the examination yielded no differences as a whole, by-aspects, and by-items. The statistical significance level of this study was set at .05.

Keywords: garment industry, garment, fashion, competitive enhancement project

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Authors: Ramandeep Kaur, Tarsem Singh Dhillon, Rajinder Kumar Dhall, Ruma Devi

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French bean (Phaseolous vulgaris L.) is an economically potential legume vegetable grown at high altitude (>1000 ft.). More recently, its cultivation in Northern Indian plans is gaining popularity but there is severe reduction in its yield and quality due to low temperature during extreme winter conditions of December-January in open field conditions. Therefore, present study was undertaken to evaluate 29 indeterminate French bean genotypes for various yield and quality traits in poly-net house with the objective to identify best performing genotypes during winter conditions. The significant variation was observed among all the genotypes for all the studied traits. The green pod yield was significantly higher in genotype Lakshmi (992.33 g/plant) followed by Star-I (955.50 g/plant) and FBK-4 (911.17 g/plant). However, the genotypes FBK-10 (105.50 days) and Lakshmi (106.83 days) took least number of days to first harvest and were significantly better than all other genotypes (109.00-136.83 days). The maximum numbers of 10 pickings were recorded in genotype Lakshmi whereas maximum harvesting span as also observed in Lakshmi (60.50 days) which was significantly higher than all other genotypes (31.17-56.50 days). Regarding quality traits, maximum dry matter was observed in FBK-13 (13.87%), protein content in FBK-1 (9.67%), sugar content in FBK-5 (9.60%) and minimum fiber content in FBK-12 (0.69%). It is hereby concluded that high productivity and better quality of French bean (genotypes: Lakshmi, Star-I, FBK-4) was produced in poly-net house conditions of Punjab, India and these pods fetches premium price in the market as there is no availability of green pods at that time in high altitudes. Hence, there is a great scope of cultivation of indeterminate French bean under poly-net house conditions in Punjab.

Keywords: earliness, pod, protected environment, quality, yield

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