Search results for: independence

Authors: Hareem Kausar

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Women of today’s world are energetic, enthusiastic and high-spirited. They tend to be the best in whatever they do and strive to accept and fulfil each challenge with utmost liveliness. The aim of the research was about studying the impact of Maternal Employment on the Child’s Behavioral Development. It was conducted as an initiative to study the impact factor in Pakistani culture and for deep insight to the subject using qualitative research methodology. The samples were interviewed through semi-structured interview method in three phases including two working mothers, two children and a day care center official and the data was collected and analyzed through content analysis. Further, it was linked with the literature from the west and the results show that children of working mothers tend to be sound mentally and physically but at some points they face the inner feeling of solitude. Overall, develop the mechanism in independence in their nature and behavior but maternal employment definitely affects the overall behavioral development of the children.

Keywords: maternal employment, child behavior- development, childhood, impact

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Authors: Ramanamurthi Botlagunta

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Return migrate on is a process; it’s not a new phenomenal. People are migrating since civilization started. In the case of Indian Diaspora, peoples migrated before the Independence of India. Even after the independence. There are various reasons for the migration. According to the characteristics of the migrants, geographical, political, and economic factors there are many changes occur in the mode of migration. In India currently almost 25 million peoples are outside of the country. But all of them not able to get the immigrants status in their respective host society due to the nature of individual perception and the immigration policies of the host countries. They came back to homeland after spending days/months/years. They are known as the return migrants. Returning migrants are 'persons returning to their country of citizenship after having been international migrants, whether short term or long-term'. Increasingly, migration is seen very differently from what was once believed to be a one-way phenomenon. The renewed interest of return migration can be seen through two aspects one is that growing importance of temporary migration programmers in other countries and other one is that potential role of migrants in developing their home countries. Conceptualized return migration in several ways: occasional return, seasonal return, temporary return, permanent return, and circular return. The reasons for the return migration are retirement, failure to assimilate in the host country, problems with acculturation in the destination country, being unsuccessful in the emigrating country, acquiring the desired wealth, innovate and to serve as change agents in the birth country. With the advent of globalization and the rapid development of transportation systems and communication technologies, this is a process by which immigrants forge and sustain simultaneous multi-stranded social relations that link together their societies of origin and settlement. We can find that Current theories of transnational migration are greatly focused on the economic impacts on the home countries, while social, cultural and political impacts have recently started gaining momentum. This, however, has been changing as globalization is radically transforming the way people move around the world. One of the reasons for the return migration is that lack of proportionate representation of Asian immigrants in positions of authority and decision-making can be a result of challenges confronted in cultural and structural assimilation. The present study mainly focuses socioeconomic and demographic profile of return migration of Indians from other countries in general and particularly on Andhra Pradesh the people who are returning from other countries. Migration is that lack of proportionate representation of Asian immigrants in positions of authority and decision-making can be a result of challenges confronted in cultural and structural assimilation. The present study mainly focuses socioeconomic and demographic profile of return migration of Indians from other countries in general and particularly on Andhra Pradesh the people who are returning from other countries.

Keywords: migration, return migration, globalization, development, socio- economic, Asian immigrants, UN, Andhra Pradesh

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Authors: Michael S. Goodman

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The Joint Intelligence Committee (JIC) has been the senior most analytical body in the UK since its creation in 1936. At various points in its history, most notably and recently in 2004, in the wake of the Iraq war, questions have been asked about its analytical process. In 1968 the British intelligence community saw one of its biggest transformations: the creation of an independent, central cadre of analysts. The ‘Assessments Staff’ was a novel attempt to improve the quality of analysis by fostering independence from departmental biases that had long plagued British intelligence. Seconded into the Cabinet Office, staff were allocated a ‘desk,’ and their role was to produce high level assessments for the most senior readers in the land. At the same time, efforts were made to ‘professionalise’ the analysts. This paper is based on a detailed archival examination of the JIC’s documentary files. It will recount the reasons behind this organisational reform, what the changes entailed, and whether they were a success. The changes were immediately brought to bear with the intelligence assessments prior to the Soviet invasion of Czechoslovakia, something that the JIC failed to appreciate.

Keywords: intelligence, cold war history, analysis, united kingdom

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Authors: Torkan Jabbariraad

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This study explores the role of private regulation as a mode of governance that engages non-state actors in establishing and implementing rules or standards for public goods or services. It examines the various forms, functions, and effects of private regulation on the rule of law and human rights and considers the role and duties of public authorities in monitoring and supporting private regulation. It contends that private regulation should be regarded as a beneficial supplement to public regulation rather than a substitute or rival and that public authorities should find a balance between acknowledging the independence and variety of private actors and securing their accountability and legitimacy. It also recommends that applying the principles and values of good governance to private regulation can improve its quality and efficiency. The study relies on various sources and viewpoints from the literature on governance theory, public law, and human rights and suggests further research and discussion on the topic of private regulation and its consequences for society.

Keywords: private regulation, public authority, governance theory, rule of law, human rights

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Authors: Mozamil Mohamed Ali

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Understanding the relationship between law and democratic governance, this research, titled “The Role of Law in Enhancing Democratic Governance: A Comparative Study of Political Systems in Developing Countries,” focuses on examining the impact of legal frameworks on strengthening democratic practices within developing nations. Democratic governance requires transparency and institutional accountability to meet citizens’ needs, which necessitates legal frameworks that ensure compliance with governance standards. These frameworks hold greater significance in developing countries, where challenges such as corruption, weak public institutions, and socio-political conflicts affect their ability to achieve sustainable democratic governance. In this context, the research explores how laws influence these aspects. The study compares various developing countries that have experienced different levels of success and difficulty in enhancing democratic governance, focusing on the legal frameworks and public policies each country has implemented to improve transparency, accountability, and strengthen the role of public institutions. This comparative analysis aims to reveal the effectiveness of legal systems in supporting democratic governance and to identify the factors that lead to the success or failure of these legal frameworks in different contexts. For example, the study includes cases from countries in Asia, Africa, and Latin America, analyzing the legal and institutional policies and their roles in achieving justice and reducing corruption. It examines the impact of legislation that promotes freedom of the press, human rights, and judicial independence as fundamental elements for transparent and democratic governance. Additionally, the research discusses how anti-corruption policies and laws governing electoral competition contribute to improving government responsiveness to public demands. The hypothesis of the research centers on the idea that developing transparent and fair laws contributes to achieving sustainable democratic governance. The analyses show that applying laws equally and impartially strengthens citizens’ trust in public institutions and encourages political participation. At the same time, the research highlights the importance of local adaptation to global legal frameworks, as it may be necessary to consider local socio-political and economic contexts to ensure the success of these frameworks. In conclusion, this research underscores the importance of legal frameworks as a pivotal factor in the success of democratic governance. It provides recommendations related to enhancing judicial independence, enforcing anti-corruption laws, and improving access to information as essential steps for strengthening democratic governance in developing countries. The findings suggest that laws respected and carefully implemented can form a solid foundation for building more transparent and effective government institutions, contributing to sustainable development and social justice in these nations.

Keywords: impact of legislation, role of institutions in controlling power, community participation, role of the judiciary

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Authors: Nachtane Mourad, Tarfaoui Mostapha, Saifaoui Dennoun, El Moumen Ahmed

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The current energy policy recommends the subject of energy efficiency and to phase out fossil energy as a master question for the prospective years. The kingdom requires restructuring its power equipment by improving the percentage of renewable energy supply and optimizing power systems and storage. Developing energy efficiency, therefore, obliges as a consubstantial objection to reducing energy consumption. The objective of this work is to show the energy transition in Morocco towards renewable energies, in particular, to show the great potential of renewable marine energies in Morocco, This goes back to the advantages of cost and non-pollution in addition to that of the independence of fossil energies. Bearing in mind the necessity of the balance of the Moroccan energy mix, hydraulic and thermal power plants have also been installed which will be added to the power stations already established as a prospect for a balanced network that is flexible to fluctuate demand.

Keywords: renewable marine energy, energy transition, efficiency energy, renewable energy

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Authors: Amira Kaddour, Hedia Teraoui, Khmayes Bougatef

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The main purpose of this paper is to determine the major causes of the underdevelopment of Islamic finance in Tunisia. Indeed, it’s surprising to note that Zitouna bank established in May 2010 is the first Islamic Tunisian bank although 99% of Tunisians are Muslim and Islam is the religion of the State according to the Constitution. So we rely in our paper on the opinions of number of professors of finance and economics as educated people to prove or reject our hypothesis that the underdevelopment of Islamic finance in Tunisia can be explained by the ignorance of its main principles and advantages. Ours findings reveal that this branch of finance is still largely unknown, not only from public but also from professionals. The results obtained surprisingly show that this insignificance of Islamic banking cannot be explained by the fact that Tunisia has been governed since its independence by a secular left-wing party. Indeed, only 3% of respondents believe that legislation and regulation in Tunisia represent an obstacle to the development of Islamic finance. Moreover, respondents are not very optimistic about the future role of Islamic financing.

Keywords: Islamic banking, Islamic insurance (takaful), Islamic law (shariah), usury (riba)

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Authors: Dada Durojaye Joshua

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The study examined the combined effect of internal control system and whistle blowing policy while it pursues the following specific objectives, which are to: examine the relationship between monitoring activities and fraud’s detection and prevention; investigate the effect of control activities on fraud’s detection and prevention in Nigerian Deposit Money Banks (DMBs). The population of the study comprises the 89,275 members of staff in the 20 DMBs in Nigeria as at June 2019. Purposive and convenient sampling techniques were used in the selection of the 80 members of staff at the supervisory level of the Internal Audit Departments of the head offices of the sampled banks, that is, selecting 4 respondents (Audit Executive/Head, Internal Control; Manager, Operation Risk Management; Head, Financial Crime Control; the Chief Compliance Officer) from each of the 20 DMBs in Nigeria. A standard questionnaire was adapted from 2017/2018 Internal Control Questionnaire and Assessment, Bureau of Financial Monitoring and Accountability Florida Department of Economic Opportunity. It was modified to serve the purpose for which it was meant to serve. It was self-administered to gather data from the 80 respondents at the respective headquarters of the sampled banks at their respective locations across Nigeria. Two likert-scales was used in achieving the stated objectives. A logit regression was used in analysing the stated hypotheses. It was found that effect of monitoring activities using the construct of conduct of ongoing or separate evaluation (COSE), evaluation and communication of deficiencies (ECD) revealed that monitoring activities is significant and positively related to fraud’s detection and prevention in Nigerian DMBS. So also, it was found that control activities using selection and development of control activities (SDCA), selection and development of general controls over technology to prevent financial fraud (SDGCTF), development of control activities that gives room for transparency through procedures that put policies into actions (DCATPPA) contributed to influence fraud detection and prevention in the Nigerian DMBs. In addition, it was found that transparency, accountability, reliability, independence and value relevance have significant effect on fraud detection and prevention ibn Nigerian DMBs. The study concluded that the board of directors demonstrated independence from management and exercises oversight of the development and performance of internal control. Part of the conclusion was that there was accountability on the part of the owners and preparers of the financial reports and that the system gives room for the members of staff to account for their responsibilities. Among the recommendations was that the management of Nigerian DMBs should create and establish a standard Internal Control System strong enough to deter fraud in order to encourage continuity of operations by ensuring liquidity, solvency and going concern of the banks. It was also recommended that the banks create a structure that encourages whistleblowing to complement the internal control system.

Keywords: internal control, whistleblowing, deposit money banks, fraud prevention, fraud detection

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Authors: Dada Durojaye Joshua

Abstract:

The study examined the combined effect of internal control system and whistle blowing policy while it pursues the following specific objectives, which are to: examine the relationship between monitoring activities and fraud’s detection and prevention; investigate the effect of control activities on fraud’s detection and prevention in Nigerian Deposit Money Banks (DMBs). The population of the study comprises the 89,275 members of staff in the 20 DMBs in Nigeria as at June 2019. Purposive and convenient sampling techniques were used in the selection of the 80 members of staff at the supervisory level of the Internal Audit Departments of the head offices of the sampled banks, that is, selecting 4 respondents (Audit Executive/Head, Internal Control; Manager, Operation Risk Management; Head, Financial Crime Control; the Chief Compliance Officer) from each of the 20 DMBs in Nigeria. A standard questionnaire was adapted from 2017/2018 Internal Control Questionnaire and Assessment, Bureau of Financial Monitoring and Accountability Florida Department of Economic Opportunity. It was modified to serve the purpose for which it was meant to serve. It was self-administered to gather data from the 80 respondents at the respective headquarters of the sampled banks at their respective locations across Nigeria. Two likert-scales was used in achieving the stated objectives. A logit regression was used in analysing the stated hypotheses. It was found that effect of monitoring activities using the construct of conduct of ongoing or separate evaluation (COSE), evaluation and communication of deficiencies (ECD) revealed that monitoring activities is significant and positively related to fraud’s detection and prevention in Nigerian DMBS. So also, it was found that control activities using selection and development of control activities (SDCA), selection and development of general controls over technology to prevent financial fraud (SDGCTF), development of control activities that gives room for transparency through procedures that put policies into actions (DCATPPA) contributed to influence fraud detection and prevention in the Nigerian DMBs. In addition, it was found that transparency, accountability, reliability, independence and value relevance have significant effect on fraud detection and prevention ibn Nigerian DMBs. The study concluded that the board of directors demonstrated independence from management and exercises oversight of the development and performance of internal control. Part of the conclusion was that there was accountability on the part of the owners and preparers of the financial reports and that the system gives room for the members of staff to account for their responsibilities. Among the recommendations was that the management of Nigerian DMBs should create and establish a standard Internal Control System strong enough to deter fraud in order to encourage continuity of operations by ensuring liquidity, solvency and going concern of the banks. It was also recommended that the banks create a structure that encourages whistleblowing to complement the internal control system.

Keywords: internal control, whistleblowing, deposit money banks, fraud prevention, fraud detection

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Authors: Alexander Sutor, David Demetz

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We present methods for developing wireless and traceable sensors for photobioreactors or photoreactors in general. The main focus of application are reactors which are wirelessly powered. Due to the promising properties of the propagation of magnetic fields under water we implemented an inductive link with an on/off switched hartley-oscillator as transmitter and an LC-tank as receiver. For this inductive link we used a carrier frequency of 298 kHz. With this system we performed measurements to demonstrate the independence of the magnetic field from water or salty water. In contrast we showed the strongly reduced range of RF-transmitter-receiver systems at higher frequencies (433 MHz and 2.4 GHz) in water and in salty water. For implementing the traceability of the sensors, we performed measurements to show the well defined orientation of the magnetic field of a coil. This information will be used in future work for implementing an inductive link based traceability system for our sensors.

Keywords: wireless sensors, photoreactor, internal illumination, wireless power

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Authors: Zineb Meniaoui, Fatma Zehri, Kamoussi Halioui

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The amplified awareness of companies towards the social and environmental concerns has nowadays become a challenge for firms around the globe. Our study investigates the effects of corporate governance mechanisms on voluntarily social and environmental information disclosure in Canada and France. The study use the content analysis approach, applied on a total of 245 year-observation for the Canadian sample and 245 year-observation for the French sample from 2005 to 2011. Our results show a significant correlation between the board's independence, Corporate Social Responsibility (CSR) committee and expertise as well as the audit quality along with the extent of the social and environmental disclosure. The French firms are found disclosing more societal information than Canadian firms, which might be due to the stakeholders' pressure put on French companies to disclose such societal information.

Keywords: Canada, corporate governance, disclosure determinants , France, social and environmental disclosure

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Authors: E. Hronyecz

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Guaranteeing the independence of the V4 Member States, the protection of their national values and their citizens, and the security of the Central and Eastern European region requires the development of military capabilities in terms of the capabilities of nations. As a result, European countries have begun developing capabilities and forces, within which nations are seeking to strengthen the capabilities of their armies and make their interoperability more effective. One aspect of this is the upgrading of military equipment, personnel equipment, and other human resources. Based on the author's preliminary researches - analyzing the scientific literature, the relevant statistical data and conducting of professional consultations with the experts of the research field – it can clearly claimed for all four states of Visegrad Group that a change of direction in the field of defense has been noticeable since the second half of the last decade. Collective defense came to the forefront again; the military training, professionalism, and radical modernization of technical equipment becoming crucial.

Keywords: armed forces, cooperation, development, Visegrad Group

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Authors: Ana Nemsadze

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Contemporary era and society are called postindustrial era and postindustrial society and/or informational era and informational society. Today science intends to define concept of information and comprehend informations role and function in contemporary society. Organization of social environment and governance of public processes on the base of information and tools of communication are main characteristics of informational era. This was defined by technological changes which were accomplished in culture in the second half of twentieth century. Today Georgia as an independent state needs to create an informational discourse of the country and therefore it is very important to study political and social cases which accomplished in the country after collapse of the Soviet Union because they start to define the present and the future of the country. The purpose of this study is to analyze political cases of the latest history of Georgia in terms of culture and information, concretely to elucidate which political cases transformed social life of post Soviet Georgia most of all who accomplished these political cases which visual and verbal messages was each political case spread with. The research is conducted on the base of interview. Participants of the interview are people of various specializations. Their professional activity is related to reflections on culture and theme of visual communication. They are philosophers sociologists a journalist media researcher a politologist a painter. The participants of the interview enumerated political cases and characterized them separately. Every expert thinks that declaration of independence of Georgia is the most important fact among all facts which were implemented in Georgia after collapse of the Soviet Union. The research revealed important social and political cases. Most of the cases are related to independence and territorial integrity of the state. Presidents of Georgia Zviad Gamsakhurdia Eduard Shevardnadze Mikheil Saakashvili Catholocos-Patriarch of All Georgia, the Archbishop of Mtskheta Tbilisi and Metropolitan bishop of Bichvinta and Tskhum Abkhazia Ilia II, businessman Bidzina Ivanishvili assumed dominating roles in cases. Verbal narrative of the cases accomplished during Zviad Gamsakhurdia presidential term expresses national freedom and visual part of cases of the same period expresses ruin of social-political structure. Verbal narrative of the cases accomplished during Eduard Sevardnadze presidential term expresses Free State and stability and reestablishment of Georgias political function in international relations and visual part of cases of the same period describes the most important moment of his presidential term and Eduard Shevardnadzes face appears too. Verbal narrative of the cases accomplished during Mikheil Saakashvilis presidential term expresses social renewal and visual part of cases of the same period describes August war and Mikheil Saakashvilis face appears too. The results of the study also reveal other details of visual verbal narrative of political and social cases of post Soviet Georgia. This gives a chance to start further reflection.

Keywords: culture, narrative, post soviet, visual communication

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Authors: Giriraj Achari, Malay Bhattacharyya

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In this paper, the effectiveness of Copula Markov Switching Multifractal (MSM) models at forecasting Value-at-Risk of a two-stock portfolio is studied. The innovations are allowed to be drawn from distributions that can capture skewness and leptokurtosis, which are well documented empirical characteristics observed in financial returns. The candidate distributions considered for this purpose are Johnson-SU, Pearson Type-IV and α-Stable distributions. The two univariate marginal distributions are combined using the Student-t copula. The estimation of all parameters is performed by Maximum Likelihood Estimation. Finally, the models are compared in terms of accurate Value-at-Risk (VaR) forecasts using tests of unconditional coverage and independence. It is found that Copula-MSM-models with leptokurtic innovation distributions perform slightly better than Copula-MSM model with Normal innovations. Copula-MSM models, in general, produce better VaR forecasts as compared to traditional methods like Historical Simulation method, Variance-Covariance approach and Copula-Generalized Autoregressive Conditional Heteroscedasticity (Copula-GARCH) models.

Keywords: Copula, Markov Switching, multifractal, value-at-risk

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Authors: Sudhaveni Naresh

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Emigration is not a new phenomenon in India but globalization has reinforced it. India has been a source of emigrants for many countries for a long period. Over 25 million Indian diaspora is spread across the world. Historically, during the British rule indenture labour from India was sent to other colonies. To regulate indentured emigration and to provide a mechanism for emigration, the British India government enacted Emigration Act, 1922. After independence, a majority of unskilled and semi-skilled labour emigrated to Gulf and South-East Asia, whereas white-collar workers preferred North America, Europe and Australia. They are contributing to both the economies in origin and destination. Due to increasing quantum of emigration, the Ministry of Labour enacted Emigration Act, 1983, which deals with the emigration of Indian workers for overseas employment on contractual basis, seeks to safeguard emigrants’ interest and ensures their welfare. The paper explains the reason behind enacting Emigration Act, 1983, and the changes in the form of an Emigration (Amendment) Rules, 2009. This paper examines the current status, effectiveness of the Act and rules.

Keywords: economic growth, emigrants, Emigration Act 1983, remittance

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Authors: Swarnadip Ghosh

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Sentiment Analysis is the process of detecting the contextual polarity of text. In other words, it determines whether a piece of writing is positive, negative or neutral.Sentiment analysis of documents holds great importance in today's world, when numerous information is stored in databases and in the world wide web. An efficient algorithm to illicit such information, would be beneficial for social, economic as well as medical purposes. In this project, we have developed an algorithm to classify a document into positive or negative. Using our algorithm, we obtained a feature set from the data, and classified the documents based on this feature set. It is important to note that, in the classification, we have not used the independence assumption, which is considered by many procedures like the Naive Bayes. This makes the algorithm more general in scope. Moreover, because of the sparsity and high dimensionality of such data, we did not use empirical distribution for estimation, but developed a method by finding degree of close clustering of the data points. We have applied our algorithm on a movie review data set obtained from IMDb and obtained satisfactory results.

Keywords: sentiment, Run's Test, cross validation, higher dimensional pmf estimation

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Authors: Henry Okechukwu Onyeiwu

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The role of media in the transformation of contemporary Nigeria's democracies is multifaceted and profoundly impactful. As Nigeria navigates its complex socio-political landscape, media serves as both a catalyst for democratic engagement and a platform for public discourse. This paper explores the various dimensions through which media influences democracy in Nigeria, including its role in informing citizens, shaping public opinion, and providing a forum for diverse voices. The increasing penetration of social media has revolutionized the political sphere, empowering citizens to participate in governance and hold leaders accountable. However, challenges such as misinformation, censorship, and media bias continue to pose significant threats to democratic integrity. This study critically analyzes the interplay between traditional and new media, highlighting their contributions to electoral processes, civic education, and advocacy for human rights. Ultimately, the findings illustrate that while media is a crucial agent for democratic transformation, its potential can only be realized through a commitment to journalistic integrity and the promotion of media literacy among the Nigerian populace. The media plays a critical role in shaping public democracies in Nigeria, yet it faces a myriad of challenges that hinder its effectiveness. This paper examines the various obstacles confronting media broadcasting in Nigeria, which range from political interference and censorship to issues of professionalism and the proliferation of fake news. Political interference is particularly pronounced, as government entities and political actors often attempt to control narratives, compromising the independence of media outlets. This control often manifests in the form of censorship, where journalists face threats and harassment for reporting on sensitive topics related to governance, corruption, and human rights abuses. Moreover, the rapid rise of social media has introduced a dual challenge; while it offers a platform for citizen engagement and diverse viewpoints, it also facilitates the spread of misinformation and propaganda. The lack of media literacy among the populace exacerbates this issue, as citizens often struggle to discern credible information from false narratives. Additionally, economic constraints deeply affect the sustainability and independence of many broadcasting organizations. Advertisers may unduly influence content, leading to sensationalism over substantive reporting. This paper argues that for media to effectively contribute to Nigerian public democracies, there needs to be a concerted effort to address these challenges. Strengthening journalistic ethics, enhancing regulatory frameworks, and promoting media literacy among citizens are essential steps in fostering a more vibrant and accountable media landscape. Ultimately, this research underscores the necessity of a resilient media ecosystem that can truly support democratic processes, empower citizens, and hold power to account in contemporary Nigeria.

Keywords: media, democracy, socio-political, governance

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Authors: Lisa Handwerker

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Using a Medical Anthropological lens, the paper will explore ideas elated to "aging in place" among Northern Californian older adults. Older adults seek independence, autonomy, flexibility, engagement, fulfillment and community in their pursuit of the highest quality of life. These values are at the heart of healthy and active "aging in place'. Drawing on a case study, the paper will examine one membership based non-profit organization for older adults united by the members' desire to be healthy and active while remaining in their homes for as long as possible. Relying on both volunteer and paid work, the paper explores the use of volunteer peer-to peer support, community building and advanced technologies toward this goal.

Keywords: aging in place, healthy and active aging, northern california, medical anthropologist, engagement, autonomy, flexibility, community, volunteers, quality of life

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Authors: Narender Banwala

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The study critically evaluates that the politics of foreign aid and its effect on Afghanistan. The study argues that dynamics of foreign aid to Afghanistan are not driven solely by the Afghan political, social, and economic realities but much more by the ephemeral political goals of international donor countries. The objective of this paper is to find out the political reality of foreign aid given to Afghanistan in a post 9/11 era. The study analyses the gap between the donor countries' interests and the Afghan government's priorities in aid coordination and management. The aid given to Afghanistan has been accompanied by the political interests of the major powers and therefore violated the core principles of humanitarianism, i.e., humanity, impartiality, neutrality, and independence. This research attempts to explain the areas which are of high priority, extremely vulnerable, and have been a neglected part since 2001. The study focuses on how as a result of politicization, foreign aid could not yield the expected results even after prolong presence of international donors in Afghanistan. Methodologically, the study includes both qualitative and quantitative data, which are collected by interviews with government officials and other government documents.

Keywords: Afganistan, aid, politics, security

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Divya Pande

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The dynamics of culture expresses itself in language. Even after India got independence in 1947 English subtly crept in the language of the masses with a silent and powerful flow towards the vernacular. The culture contact resulted in learning and emergence of a new language across the Hindi speaking belt of Northern and Central India. The hybrid words thus formed displaced the original word and got contextualized and absorbed in the language of the common masses. The research paper explores the interesting new vocabulary used extensively in the urban and rural districts of the state of Uttar- Pradesh which is the most populous state of India. The paper adopts a two way classification- formal and contextual for the analysis of the hybrid vocabulary of the linguistic items where one element is necessarily from the English language and the other from the Hindi. The new vocabulary represents languages of the wider world cutting across the geographical and the cultural barriers. The paper also broadly points out to the Hinglish commonly used in the state.

Keywords: assimilation, culture contact, Hinglish, hybrid words

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Authors: Shola Abidemi Olabode

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Nigeria as a country has been plagued by numerous conflicts since the British colonialists gave in to the advocacy of Nigerian dissents for independence and relinquished power in 1960. These conflicts are often motivated by different issues, from socio-political and economic issues to struggles of ethnic and religious orientation. The Niger Delta region which accounts for the country’s economic mainstay has been at the epicentre of such conflicts. Over the years, peaceful protests, and radical insurgency and resistance movements too numerous to mention have emerged in the region. The Niger Delta Avengers is an example of a recent conflict movement in the region. Using a case study approach, and looking through a cyberconflict perspective, this paper offers a discussion on the intersection between digital and social media and framing in the Niger Delta Avengers conflict. It advocates that the Niger Delta Avengers use digital and social media to legitimise and give credence to their struggle.

Keywords: digital and social media, framing, Niger delta avengers, cyberconflict, conflict

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Authors: Azadeh Askari, Ali Nasery Mohamad Abadi

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The present study was conducted to investigate the relationship between career anchors and job satisfaction with emphasis on the mediating role of person-job fit. 502 managers and supervisors of ten operational areas of a large energy Company were selected as a cluster sample appropriate to the volume. The instruments used in this study were Career Anchor Questionnaire, Job Satisfaction Questionnaire and Person-job fit Questionnaire. Pearson correlation coefficient was used to analyze the data and AMOS software was used to determine the effect of career anchor variables and person-job fit on job satisfaction. Anchors of service and dedication, pure challenge and security and stability increase the person-job fit among managers and also the person-job fit plays a mediating role in relation to the effect it has on job satisfaction through these anchors. In contrast, the anchors of independence and autonomy reduce the person-job fit. Considering the importance of positive organizational attitudes and in order to have an optimal fit between job and worker, it is better that in human resources processes such as hiring and employing, the career anchors of the person should be considered so that the person can have more job satisfaction; and thus bring higher productivity for themselves and the organization.

Keywords: career anchor, job satisfaction, person-job fit, energy company, managers

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Authors: Shih-Kuei Lin

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The characterization of the arbitrage-free dynamics of interest rates is developed in this study under the presence of Markov jump risks, when the term structure of the interest rates is modeled through simple forward rates. We consider Markov jump risks by allowing randomness in jump sizes, independence between jump sizes and jump times. The Markov jump diffusion model is used to capture empirical phenomena and to accurately describe interest jump risks in a financial market. We derive the arbitrage-free model of simple forward rates under the spot measure. Moreover, the analytical pricing formulas for a cap and a floor are derived under the forward measure when the jump size follows a lognormal distribution. In our empirical analysis, we find that the LIBOR market model with Markov jump risk better accounts for changes from/to different states and different rates.

Keywords: arbitrage-free, cap and floor, Markov jump diffusion model, simple forward rate model, volatility smile, EM algorithm

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Authors: Eliane Abdo, Olivier Colot

Abstract:

SMEs are always considered as a national priority due to their contribution to job creation, innovation and growth. Once the start-up phase is crossed with encouraging results, the company enters the phase of growth. In order to improve its competitiveness, maintain and increase its market share, the company is in the necessity even the obligation to develop its tangible and intangible investments. SMEs are generally closed companies with special and critical financial situation, limited resources and difficulty to access the capital markets; their shareholders are always living in a conflict between their independence and their need to increase capital that leads to the entry of new shareholder. The capital structure was always considered the core of research in corporate finance; moreover, the financial crisis and its repercussions on the credit’s availability, especially for SMEs make SME financing a hot topic. On the other hand, financial theories do not provide answers to capital structure’s questions; they offer tools and mode of financing that are more accessible to larger companies. Yet, SME’s capital structure can’t be independent of their governance structure. The classic financial theory supposes independence between the investment decision and the financing decision. Thus, investment determines the volume of funding, but not the split between internal or external funds. In this context, we find interesting to study the hypothesis that SMEs respond positively to the financial theories applied to large firms and to check if they are constrained by conventional solutions used by large companies. In this context, this research focuses on the analysis of the resource’s structure of SME in parallel with their investments’ structure, in order to highlight a link between their assets and liabilities structure. We founded our conceptual model based on two main theoretical frameworks: the Pecking order theory, and the Trade Off theory taking into consideration the SME’s characteristics. Our data were generated from DIANE database. Five hypotheses were tested via a panel regression to understand the type of dependence between the financing methods of 3,244 French SMEs and the development of their investment over a period of 10 years (2007-2016). The results show dependence between equity and internal financing in case of intangible investments development. Moreover, this type of business is constraint to financial debts since the guarantees provided are not sufficient to meet the banks' requirements. However, for tangible investments development, SMEs count sequentially on internal financing, bank borrowing, and new shares issuance or hybrid financing. This is compliant to the Pecking Order Theory. We, therefore, conclude that unlisted SMEs incur more financial debts to finance their tangible investments more than their intangible. However, they always prefer internal financing as a first choice. This seems to be confirmed by the assumption that the profitability of the company is negatively related to the increase of the financial debt. Thus, the Pecking Order Theory predictions seem to be the most plausible. Consequently, SMEs primarily rely on self-financing and then go, into debt as a priority to finance their financial deficit.

Keywords: capital structure, investments, life cycle, pecking order theory, trade off theory

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Authors: Sandija Zeverte-Rivza, Irina Pilvere, Baiba Rivza

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The use of renewable energy sources incl. biogas has become topical in accordance with the increasing demand for energy, decrease of fossil energy resources and the efforts to reduce greenhouse gas emissions as well as to increase energy independence from the territories where fossil energy resources are available. As the technologies of biogas production from agricultural biomass develop, risk assessment and risk management become necessary for farms producing such a renewable energy. The need for risk assessments has become particularly topical when discussions on changing the biogas policy in the EU take place, which may influence the development of the sector in the future, as well as the operation of existing biogas facilities and their income level. The current article describes results of the risk assessment for farms producing biomass from agriculture biomass in Latvia, the risk assessment system included 24 risks, that affect the whole biogas production process and the obtained results showed the high significance of political and production risks.

Keywords: biogas production, risks, risk assessment, biosystems engineering

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Authors: G. C. Surya Bahadur, Ranjana Kothari

Abstract:

The paper attempts to analyze linkages between corporate governance and firm performance in India. The study employs a panel data of 50 Nifty companies from 2008 to 2012. Using LSDV panel data model and 2SLS model the study reveals that that good corporate governance practices adopted by companies is positively related with financial performance. Board independence, number of board committees and executive compensation are found to have positive relationship while ownership by promoters and financial leverage have negative relationship with performance. There is existence of bi-directional relationship between corporate governance and financial performance. Companies with sound financial performance are more likely to conform to corporate governance norms and standards and implement sound corporate governance system. The findings indicate that companies can enhance business performance and sustainability by embracing sound corporate governance practices.

Keywords: board structure, corporate governance, executive compensation, ownership structure

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Authors: Edmund Gyimah

Abstract:

Using data from 146 annual reports of listed firms in Ghana for the period 2013-2020, this study presents indicative findings which inspire practical actions and future research. Firms which prepared and presented sustainability reports were excluded from this study for a coverage of corporate sustainability disclosures centred on annual reports. Also, corporate sustainability disclosures of the firms on corporate websites were not included in the study considering the tendency of updates which cannot easily be traced. The corporate sustainability disclosures in the annual reports since the commencement of the G4 Guidelines in 2013 have been below average for all the dimensions of sustainability and the general sustainability disclosures. Few traditional elements of the board composition such as board size and board independence could affect the corporate sustainability disclosures in the annual reports as well as the age of the firm, firm size, and industry classification of the firm. Sustainability disclosures are greater in sustainability reports than in annual reports, however, firms without sustainability reports should have a considerable amount of sustainability disclosures in their annual reports. Also, because of the essence of sustainability, this study suggests to firms to have sustainability committee perhaps, they could make a difference in disclosing the enough sustainability information even when they do not present sustainability information in stand-alone reports.

Keywords: disclosures, sustainability, board, reports

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Authors: G. Malumbela, E. U. Masuku

Abstract:

The economy of Botswana has increased extensively since its independence. In contrast to this increase, the construction industry which is one of the key indicators of a developing nation continues to be highly dependent on imported building material products from the neighbouring countries of South Africa, Namibia, Zimbabwe, and Zambia. Only two companies in the country currently blend cement. Even then, the overwhelming majority of raw materials used in the blends are imported. Furthermore, there are no glass manufacturers in Botswana. The ceramic industry is limited to the manufacture of clay bricks notwithstanding a few studios on crockery and sanitary ware which nonetheless use imported clay. This paper presents natural resources and industrial waste products in Botswana that can be used for the development of sustainable building materials. It also investigates at the distribution and cost of other widely used building materials in the country. Finally, the present paper looks at projects and national strategies aimed at a country-wide development of a sustainable building materials industry together with their successes and hitches.

Keywords: Botswana construction industry, construction materials, natural resources, sustainable materials

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Authors: James Moir

Abstract:

This paper considers the political controversy in Britain, both pre- and post-EU referendum, concerning claims over welfare benefit tourism and immigration in the UK. These claims were seen to be a significant reason for the vote for Brexit despite evidence to the contrary that benefit tourism was not, and is not, implicated in the migration of East Europeans to the UK. Populist rhetoric is analysed alongside studies that contradict such views. These contentious issues are examined with respect to the agenda set by the United Kingdom Independence Party (UKIP) concerning anti-EU and anti-immigrant sentiment and the notion of cultural differences as the basis for supporting Brexit. The paper also examines the paradoxical claim that East European migrants are taking British jobs and driving down wages. Taken together, it is argued that these two kinds of claims effectively contribute to anti-immigration discourse based on the logic of economics, but also at the same time conceal more irrational fears of adapting to change through the inclusion of others. Such fears are considered as being founded upon a challenge to the stability of totems of national life and identity.

Keywords: benefits, Brexit, immigration, tourism, welfare

Procedia PDF Downloads 379