Search results for: financial capacity

Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

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The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Bambang Piscesa, Mario M. Attard, Dwi Presetya, Ali K. Samani

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A numerical strategy formulated using a plasticity approach is presented to model spalling of the concrete cover in reinforced concrete columns. The stage at which the concrete cover within reinforced concrete column spalls has a direct bearing on the load capacity. The concrete cover can prematurely spall before the full cross-section can be utilized if the concrete is very brittle under compression such as for very high strength concretes. If the confinement to the core is high enough, the column can achieve a higher peak load by utilizing the core. A numerical strategy is presented to model spalling of the concrete cover. Various numerical strategies are employed to model the behavior of reinforced concrete columns which include: (1) adjusting the material properties to incorporate restrained shrinkage; (2) modifying the plastic dilation rate in the presence of the tensile pressure; (3) adding a tension cut-off failure surface and (4) giving the concrete cover region and the column core different material properties. Numerical comparisons against experimental results are carried out that shown excellent agreement with the experimental results and justify the use of the proposed strategies to predict the axial load capacity of reinforce concrete columns.

Keywords: spalling, concrete, plastic dilation, reinforced concrete columns

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Authors: Muhammed Ordu, Eren Demir, Chris Tofallis

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The number of inpatient admissions in the UK has been significantly increasing over the past decade. These increases cause bed occupancy rates to exceed the target level (85%) set by the Department of Health in England. Therefore, hospital service managers are struggling to better manage key resource such as beds. On the other hand, this severe demand pressure might lead to confusion in wards. For example, patients can be admitted to the ward of another inpatient specialty due to lack of resources (i.e., bed). This study aims to develop a simulation-optimization model to reallocate the available number of beds in a mid-sized hospital in the UK. A hospital simulation model was developed to capture the stochastic behaviours of the hospital by taking into account the accident and emergency department, all outpatient and inpatient services, and the interactions between each other. A couple of outputs of the simulation model (e.g., average length of stay and revenue) were generated as inputs to be used in the optimization model. An integer linear programming was developed under a number of constraints (financial, demand, target level of bed occupancy rate and staffing level) with the aims of maximizing number of admitted patients. In addition, a sensitivity analysis was carried out by taking into account unexpected increases on inpatient demand over the next 12 months. As a result, the major findings of the approach proposed in this study optimally reallocate the available number of beds for each inpatient speciality and reveal that 74 beds are idle. In addition, the findings of the study indicate that the hospital wards will be able to cope with 14% demand increase at most in the projected year. In conclusion, this paper sheds a new light on how best to reallocate beds in order to cope with current and future demand for healthcare services.

Keywords: bed occupancy rate, bed reallocation, discrete event simulation, inpatient admissions, integer linear programming, projected usage

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Authors: Pei Li, Chunyi Zhi

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Conversion-type lithium-ion batteries show great potential as high-energy-density, low-cost and sustainable alternatives to current transition-metal-based intercalation cells. Li-Cl₂/Li⁻I₂ conversion batteries, based on anionic redox reactions of Cl⁻/Cl⁰ or I⁻/I⁰, are highly attractive due to their superior voltage and capacity. However, a redox-active and reversible chlorine cathode has not been developed in organic electrolytes. And thermodynamic instability and shuttling issues of iodine cathodes have plagued the active iodine loading, capacity retention and cyclability. By reversible chemical bonds, we develop reversible chlorine redox reactions in organic electrolytes with interhalogen bonds between I and Cl for Li-I₂ batteries and develop a highly thermally stable I/I₃--bonded organic salts with iodine content up to 80% as cathode materials for the rechargeable Li-I₂ batteries. The demonstration of reversible chemical bonds enabled rechargeable Li-halogen batteries opens a new avenue to develop halogen compound cathodes.

Keywords: conversion-type, chlorine, halogen cathode, high energy density, iodine, interhalogen bond, lithium-ion batteries

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Authors: Kesi Widjajanti

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To develop the growth of small and medium enterprises (SMEs), it is important to unlock potential resources that can improve their performance. Business Partnerships (BP) are currently an interesting topic of strategy to use to expand markets and maximize financial and marketing performance. However, many business partnerships have not quite a role among small and medium companies in the creative industry in the Batik Craft sector in Indonesia. This study is rooted in the Resource Advantage Theory of Competition ( RAToC), which emphasizes that the advantage of company resources can be sourced from organizational and relational resources. With the basis of this theory, SMEs can optimize the allocation of relational resources and organizational goals, improve operational efficiency, and gain a strategic advantage in the market. Companies that are able to actualize organizational and relational resources better than other market players can be used for the process of increasing their superior performance. This study explores key elements from the RAToC perspective and shows how Business Partnerships have the potential to drive SMEs' growth. By aligning visions, and organizational resources, sharing knowledge and leveraging complementary relational resources, SMEs can increase their competitiveness, enter new markets, and achieve superior performance. The theoretical contribution of RAToC in small companies is due to the role of Pro-Grow Business Partnership strength as an important antecedent for improving SMEs' performance. The benefits (scenarios) of a Business Partnership to grow together are directed at optimizing resources that can create additional value for customers so that they can outperform competitors. Furthermore, managerial implications for SMEs who wish to unlock their resource potential can encourage the role of Pro-Grow Business Partnerships, which have specific characteristics, can absorb experience/knowledge capacity and utilize this knowledge for the development of "together" business ventures.

Keywords: pro grow business partnership, performance, SMEs, resources advantage theory of competition, industry kreatif batik handycraft indonesia

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Authors: Husain A. Murad, Ali A. Dashti, Ali Al-Kandari

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The outbreak of Coronavirus during the Spring semester of 2020 brought new challenges for the teaching of vocational mass communication courses at universities in Kuwait. Using the Media Richness Theory (MRT), this study examines the response of 252 university students on mass communication programs. A questionnaire regarding their perceptions and preferences concerning modes of instruction on vocational courses online, focusing on the four factors of MRT: immediacy of feedback, capacity to include personal focus, conveyance of multiple cues, and variety of language. The outcomes show that immediacy of feedback predicted all criterion variables: suitability of distance learning (DL) for teaching vocational courses, sentiments of students toward DL, perceptions of easiness of evaluation of DL coursework, and the possibility of retaking DL courses. Capacity to include personal focus was another positive predictor of the criterion variables. It predicted students’ sentiments toward DL and the possibility of retaking DL courses. The outcomes are discussed in relation to implications for using DL, as well as constructing an agenda for DL research.

Keywords: distance learning, media richness theory, traditional learning, vocational media courses

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Authors: Alvaro Armenta-Ramade, Arturo Serrano-Santoyo, Veronica Rojas-Mendizabal, Roberto Conte-Galvan

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The availability and affordability of commercial off-the-shell products have brought a major impetus in the development of university projects related to the design, construction and launching of small satellites on a global scale. Universities in emerging economies as well as in least developed countries have been able to develop prototypes of small satellites (cubesats and cansats) with limited budgets. The experience gained in the development of small satellites gives rise to capacity building for designing more complex aerospace systems. This trend has significantly increased the pace and number of aerospace university projects around the world. In the case of Mexico, projects funded by different agencies have been very effective in accelerating the capacity building and technology transfer initiatives in the aerospace ecosystem. However, many of this initiatives have centered their efforts in technology development matters with minimum or no considerations of key regulatory issues related to frequency assignment, management and licensing, as well as launching requirements and measures of mitigation of space debris. These regulatory concerns are fundamental to accomplish successful missions that take into account the complete value chain of an aerospace project. The purpose of this paper is to develop a regulatory framework to support the efforts of educational institutions working on the development of small satellites in Mexico. We base our framework on recommendations from the International Telecommunications Union (ITU), the United Nations Office for Outer Space Affairs (UNOOSA) and other major actors of the Mexican regulatory ecosystem. In order to develop an integrated and cohesive framework, we draw on complexity science to identify the agents, their role and interactions. Our goal is to create a guiding instrument available both in print and online that can also be used in other regions of the world

Keywords: capacity building, complexity science, cubesats, space regulations, small satellites

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Authors: Sara Najiazarpour, Mahsa Najiazarpour

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There are many problems in contracting projects and their performance. At each project stage and due to different reasons, these problems affect cost, time and overall project quality. Hence, in order to increase the efficiency and performance in all levels of the chain and with supply chain management approach, there will be a coordination from the beginning of a project (contractor selection) to the end of project (handover of project). Contractor selection is the foremost part of construction projects which in this multi-criteria decision-making, the best contractor is determined by expert judgment, different variables and their priorities. In this paper for selecting the best contractor, numerous criteria were collected by asking from adept experts and then among them, 16 criteria with highest frequency were considered for questionnaire. This questionnaire was distributed between experts. Cronbach's alpha coefficient was obtained as 72%. Then based on Borda's function 12 important criteria was selected which was categorized in four main criteria and related sub-criteria as follow: Environmental factors and physical equipment: procurement and materials (supplier), company's machines, contractor’s proposed cost estimate - financial capacity: bank turnover and company's assets, the income of tax declaration in last year, Ability to compensate for losses or delays - past performance- records and technical expertise: experts and key personnel, the past technical backgrounds and experiences, employer satisfaction of previous contracts, the number of similar projects was done - standards: rank and field of expertise which company is qualified for and its validity, availability and number of permitted projects done. Then with PROMTHEE method, the criteria were normalized and monitored, finally the best alternative was selected. In this research, qualitative criteria of each company is became a quantitative criteria. Finally, information of some companies was evaluated and the best contractor was selected based on all criteria and their priorities.

Keywords: contractor evaluation and selection, project development, supply chain management, PROMTHEE method

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Authors: Elena Tkachenko, Vladimir Kokh, Alina Osipenko, Vladislav Surkov

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The modern period of development of Russian economy is fraught with a number of problems related to limitations in the use of traditional planning and financial management tools. Restrictions in the use of foreign software when performing an order of the Russian Government, on the one hand, and sanctions limiting the support of the major ERP and MRP II systems in the Russian Federation, on the other hand, entail the necessity to appeal to the basics of developing budgeting and analysis systems for industrial enterprises. Thus, cost calculation theory becomes the theoretical foundation for the development of industrial cost management systems. Based on the foregoing, it would be fair to make an assumption that the development of a working managerial accounting model on an industrial enterprise using an automated enterprise resource management system should rest upon the concept of the inevitability of alterations of business processes. On the other hand, optimized business processes make the architecture of financial analytics more transparent and permit the use of all the benefits of data cubes. The metrics and indicator slices provide online assessment of the state of key business processes at a given moment of time, which improves the quality of managerial decisions considerably. Therefore, the bilateral sanctions situation boosted the development of corporate business analytics and took industrial companies to the next level of understanding of business processes.

Keywords: cost culculation, ERP, OLAP, modern Russian economy

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Authors: Muhammad Umar Mushtaq, Muhammad Bilal Khan Niazi, Nouman Ahmad, Dooa Arif

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Apart from organic dyes, heavy metals such as Pb, Ni, Cr, and Cu are present in textile effluent and pose a threat to humans and the environment. Many studies on removing heavy metallic ions from textile wastewater have been conducted in recent decades using metal-organic frameworks (MOFs). In this study new polyether sulfone ultrafiltration membrane, modified with Cu/Co and Cu/Zn-based bimetal-organic frameworks (MOFs), was produced. Phase inversion was used to produce the membrane, and atomic force microscopy (AFM), scanning electron microscopy (SEM) were used to characterize it. The bimetallic MOFs-based membrane structure is complex and can be comprehended using characterization techniques. The bimetallic MOF-based filtration membranes are designed to selectively adsorb specific contaminants while allowing the passage of water molecules, improving the ultrafiltration efficiency. MOFs' adsorption capacity and selectivity are enhanced by functionalizing them with particular chemical groups or incorporating them into composite membranes with other materials, such as polymers. The morphology and performance of the bimetallic MOF-based membrane were investigated regarding pure water flux and metal ion rejection. The advantages of developed bimetallic MOFs based membranes for wastewater treatment include enhanced adsorption capacity because of the presence of two metals in their structure, which provides additional binding sites for contaminants, leading to a higher adsorption capacity and more efficient removal of pollutants from wastewater. Based on the experimental findings, bimetallic MOF-based membranes are more capable of rejecting metal ions from industrial wastewater than conventional membranes that have already been developed. Furthermore, the difficulties associated with operational parameters, including pressure gradients and velocity profiles, are simulated using Ansys Fluent software. The simulation results obtained for the operating parameters are in complete agreement with the experimental results.

Keywords: bimetallic MOFs, heavy metal ions, industrial wastewater treatment, ultrafiltration.

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Authors: Jie Liu, Wei Wei, Chun-Ping Chang

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Using a sample of 110 countries over the period 1984-2013, this paper examines the impacts of country risks on choosing a specific exchange rate regime (first by utilizing the Levy-Yeyati and Sturzenegger de facto classification and then robusting it by the IMF de jure measurement) relative to other regimes via the panel multinomial logit approach. Empirical findings are as follows. First, in the full samples case we provide evidence that government is more likely to implement a flexible regime, but less likely to adopt a fixed regime, under a low level of composite and financial risk. Second, we find that Eurozone countries are more likely to choose a fixed exchange rate regime with a decrease in the level of country risk and favor a flexible regime in response to a shock from an increase of risk, which is opposite to non-Eurozone countries. Third, we note that high-risk countries are more likely to choose a fixed regime with a low level of composite and political risk in the government, but do not adjust the exchange rate regime as a shock absorber when facing economic and financial risks. It is interesting to see that those countries with relatively low risk display almost opposite results versus high-risk economies. Overall, we believe that it is critically important to account for political economy variables in a government’s exchange rate policy decisions, especially for country risks. All results are robust to the panel ordered probit model.

Keywords: country risk, political economy, exchange rate regimes, shock absorber

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Authors: Yasser Aldali, Farag Ahwide

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This paper investigates the application of large scale (LS-PV) two-axis tracking photovoltaic power plant in Al-Jagbob, Libya. A 50MW PV-grid connected (two-axis tracking) power plant design in Al-Jagbob, Libya has been carried out presently. A hetero-junction with intrinsic thin layer (HIT) type PV module has been selected and modeled. A Microsoft Excel-VBA program has been constructed to compute slope radiation, dew-point, sky temperature, and then cell temperature, maximum power output and module efficiency for this system, for tracking system. The results for energy production show that the total energy output is 128.5 GWh/year. The average module efficiency is 16.6%. The electricity generation capacity factor (CF) and solar capacity factor (SCF) were found to be 29.3% and 70.4% respectively. A 50MW two axis tracking power plant with a total energy output of 128.5 GWh/year would reduce CO2 pollution by 85,581 tonnes of each year. The payback time for the proposed LS-PV photovoltaic power plant was found to be 4 years.

Keywords: large PV power plant, solar energy, environmental impact, dual-axis tracking system

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Authors: Ilias A. Makris

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In this work, we attempt to associate firm characteristics with innovative activity. We collect microdata from listed firms of selected Eurozone Country-members, after the beginning of 2007 financial crisis. The following literature, several indicators of growth and performance were selected and tested for their ability to interpret innovative activity. The main scope is to examine the possible differences in performance and growth between innovative and non-innovative firms, during a severe recession. Additionally to that, a special focus will be held on whether macroeconomic performance and national innovation system, determines the extent of innovators' performance. Preliminary findings, through correlation matrices and non-parametric tests, strongly indicate the positive relation between innovative activity and most of the measures used (profitability, size, employment), confirming that even during a recessionary period, innovative firms not only survive but also seem to succeed better economic results in almost all indexes relative to non-innovative. However, even though innovators seem to perform better in all economies examined, the extent of that performance seems to be strongly affected by the supportive mechanisms (financial and structural) that their country provides. Thus, it is clear, that the technologically intensive 'gap' between European South and North, during the economic crisis, became chaotic, due to the harsh austerity measures and reduced budgets in those countries, even in sectors with high potentials in economic activity and employment, impairing the effects of crisis and enhancing the vicious circle of recession.

Keywords: eurozone, innovative activity, development, firm performance, non-parametric tests

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Authors: Noel Busch-Armendariz, Caitlin Sulley

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Introduction: This study investigated the development of college experiences, COVID-19 pandemic experiences, alcohol use, and sexual violence. The longitudinal study includes 656 college students living in the same dormitory. Students' alcohol use and social network structure were investigated to better understand the relationship with sexual violence risk. Basic Methodologies: Over two years, students repeated five web-based surveys, including a pre-college survey and surveys during four consecutive semesters. Questions were added in the fourth wave to assess students’ experiences of the COVID-19 pandemic, administered from November-January 2021, including mental and behavioral health. Analyses include the impact of COVID on living arrangements, drinking behaviors, and daily life; experiences of COVID symptoms, testing, and diagnosis, responses to COVID such as social distancing, quarantining, not working, increased health care needs; experience of fear, worry, stigma, emotional well-being, loneliness, and mental health; experiences of financial loss, lack of basic supplies, receiving emotional and financial support, and comparison with academic disengagement. Concluding Statement: Findings and discussion will include strategies to strengthen mental and behavioral health programs and policies.

Keywords: COVID, mental health, substance abuse, college students, sexual misconducts

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Authors: Comingstarful Marthong, Shembiang Marthong

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Application of Polyethylene terephthalate (PET) fiber for enhancing the seismic performance of exterior RC beam-column connections in substitution of steel fibers is experimentally investigated. The study involves the addition of Polyethylene terephthalate (PET) fiber-reinforced concrete, i.e., PFRC at the joint region of the connection. The PET fiber of 0.5% volume fraction used in the PFRC mix is obtained by hand cutting of post-consumer PET bottles. Specimens design as per relevant codes was casted and tested to reverse cyclic loading. PFRC specimen was also casted and subjected to similar loading sequence. Test results established that addition of PET fibers in the joint region is effective in enhancing the displacement ductility and energy dissipation capacity. The improvement of damage indices and principal tensile stresses of PFRC specimens gave experimental evidence of the suitability of PET fibers as a discrete reinforcement in the substitution of steel fiber for structural use.

Keywords: beam-column connections, polyethylene terephthalate fibers reinforced concrete, joint region, ductility, seismic capacity

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Authors: Kausar Ali

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There are several ground treatment techniques which may meet the twin objectives of increasing the bearing capacity with simultaneous reduction of settlements, but the use of stone columns is one of the most suited techniques for flexible structures such as embankments, oil storage tanks etc. that can tolerate some settlement and used worldwide. However, when the stone columns in very soft soils are loaded; stone columns undergo excessive settlement due to low lateral confinement provided by the soft soil, leading to the failure of the structure. The poor performance of stone columns under these conditions can be improved by encasing the columns with a suitable geosynthetic. In this study, the effect of reinforcement on bearing capacity of composite soil has been investigated by conducting laboratory model tests on floating and end bearing long stone columns with l/d ratio of 12. The columns were reinforced by providing geosynthetic encasement over varying column length (upper 25%, 50%, 75%, and 100% column length). In this study, a group of columns has been used instead of single column, because in the field, columns used for the purpose always remain in groups. The tests indicate that the encasement over the full column length gives higher failure stress as compared to the encasement over the partial column length for both floating and end bearing long columns. The performance of end-bearing columns was found much better than the floating columns.

Keywords: geosynthetic, ground improvement, soft clay, stone column

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Authors: Solomon Huluka, Akrum Abdul-Latif, Rachid Baleh

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Metal foams have been developed intensively as a new class of materials for the last two decades due to their unique structural and multifunctional properties. The aim of this experimental work was to characterize the effect of biaxial loading complexity (combined compression-torsion) on the plastic response of highly uniform architecture open-cell aluminum foams of spherical porous with a density of 80%. For foam manufacturing, the Kelvin cells model was used to generate the generally spherical shape with a cell diameter of 11 mm. A patented rig called ACTP (Absorption par Compression-Torsion Plastique), was used to investigate the foam response under quasi-static complex loading paths having different torsional components (i.e. 0°, 45° and 60°). The key mechanical responses to be examined are yield stress, stress plateau, and energy absorption capacity. The collapse mode was also investigated. It was concluded that the higher the loading complexity, the greater the yield strength and the greater energy absorption capacity of the foam. Experimentally, it was also noticed that there were large softening effects that occurred after the first pick stress for both biaxial-45° and biaxial-60° loading.

Keywords: aluminum foam, loading complexity, characterization, biaxial loading

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Authors: Harneet Walia, Morteza Zihayat

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Customer acquisition has become one of the critical issues of any business in the 21st century; having a healthy customer base is the essential asset of the bank business. Term deposits act as a major source of cheap funds for the banks to invest and benefit from interest rate arbitrage. To attract customers, the marketing campaigns at most financial institutions consist of multiple outbound telephonic calls with more than one contact to a customer which is a very time-consuming process. Therefore, customized direct marketing has become more critical than ever for attracting new clients. As customer acquisition is becoming more difficult to archive, having an intelligent and redefined list is necessary to sell a product smartly. Our aim of this research is to increase the effectiveness of campaigns by predicting customers who will most likely subscribe to the fixed deposit and suggest the most suitable month to reach out to customers. We design a Time Aware Upsell Prediction Framework (TAUPF) using two different approaches, with an aim to find the best approach and technique to build the prediction model. TAUPF is implemented using Upsell Prediction Approach (UPA) and Clustered Upsell Prediction Approach (CUPA). We also address the data imbalance problem by examining and comparing different methods of sampling (Up-sampling and down-sampling). Our results have shown building such a model is quite feasible and profitable for the financial institutions. The Time Aware Upsell Prediction Framework (TAUPF) can be easily used in any industry such as telecom, automobile, tourism, etc. where the TAUPF (Clustered Upsell Prediction Approach (CUPA) or Upsell Prediction Approach (UPA)) holds valid. In our case, CUPA books more reliable. As proven in our research, one of the most important challenges is to define measures which have enough predictive power as the subscription to a fixed deposit depends on highly ambiguous situations and cannot be easily isolated. While we have shown the practicality of time-aware upsell prediction model where financial institutions can benefit from contacting the customers at the specified month, further research needs to be done to understand the specific time of the day. In addition, a further empirical/pilot study on real live customer needs to be conducted to prove the effectiveness of the model in the real world.

Keywords: customer acquisition, predictive analysis, targeted marketing, time-aware analysis

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Authors: Noriyuki Suyama

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This paper looked into consumer behavioral changes by analyzing the data collected by ASMARKS Co., one of a research companies in Japan. The purpose of the paper is to understand the two differences of before vs. after COVID-19 pandemic and Japanese living in Japan. Subsequently, examining the analysis results helped obtain useful insights into new business models for business parties in Japan as a microlevel perspective. The paper also tried to explore future conditions of globalization by taking into consideration nation’s political and economic changes as a macro-level perspective. The COVID-19 has been continuing its spread across the world with more than 60 million confirmed cases in 190 countries. This pandemic with restricted scopes of behavior mandates have disrupted the consumer habits of their lifestyles. Consumers have tendency to learn new ways when they have trouble in taking routine action. For example, the government forces people to refrain from going out, they try to telecommute at home. If the situation come back to normal, people still change their lifestyles to fit in the best. Some of data show typical effects of COVID-19; forceful exposure to digitalized work-life styles; more flexible time at home; importance of trustful and useful information gathering between what's good and bad;etc. in comparison with before vs. after COVID-19 pandemic. In addition, Japanese have less changed their lifestyles than Expatriates living in Japan. For example, while 94% of the expatriates have decreased their outgo because of self-quarantine, only 55% of the Japanese have done. There are more differences in both comparisons in the analysis results. The economic downtrend resulting from COVID-19 is supposed to be at least as devastating if not more so than that of the financial crisis. With unemployment levels in the US taking two weeks to reach what took 6 months in the 2008 crisis, there is no doubt of a global recession some predict could reach 10% or above of GDP. As a result, globalization in the global supply chain of goods and services will end up with negative impact. A lot of governmental financial and economic policies are supposed to focus on their own profits and interests, exclusing other countries interests as is the case with the Recovery Act just after the global financial crisis from 2007 to 2008. Both micro- and macro-levels analysis successfully reveal important connotations and managerial implications of business in Japan for Japanese consumers as well as after COVID-19 global business.

Keywords: COVID-19, lifestyle in Japan, expatriates, consumer behavior

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Authors: Sareh Rajabi, Salwa Bheiry

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In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.

Keywords: portfolio management, risk management, COVID-19, analytical hierarchy process technique

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Authors: Ntokozo Dambuza, Maryna Van De Venter, Trevor Koekemoer

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Oxidative stress contributes to the pathogenesis of many diseases and consequently antioxidant therapy has attracted much attention as a potential therapeutic strategy. Regardless of the quantities ingested, antioxidants need to reach the diseased tissues at concentrations sufficient to combat oxidative stress. Bioavailability is thus a defining criterion for the therapeutic efficacy of antioxidants. In addition, therapeutic antioxidants must possess biologically relevant characteristics which can target the specific molecular mechanisms responsible for disease related oxidative stress. While many chemical antioxidant assays are available to quantify antioxidant capacity, they relate poorly to the biological environment and provide no information as to the bioavailability. The present comparative study thus aims to characterise green and fermented rooibos extracts, well recognized for their exceptional antioxidant capacity, in terms of antioxidant bioavailability and efficacy in a disease relevant cellular setting. Chinese green tea antioxidant activity was also evaluated. Chemical antioxidant assays (FRAP, DPPH and ORAC) confirmed the potent antioxidant capacity of both green and fermented rooibos, with green rooibos possessing antioxidant activity superior to that of fermented rooibos and Chinese green tea. Bioavailability was assessed using the PAMPA assay and the results indicate that green and fermented rooibos have a permeation coefficient of 5.7 x 10-6 and 6.9 x 10-6 cm/s, respectively. Chinese green tea permeability coefficient was 8.5 x 10-6 cm/s. These values were comparable to those of rifampicin, which is known to have a high permeability across intestinal epithelium with a permeability coefficient of 5 x 10 -6 cm/s. To assess the antioxidant efficacy in a cellular context, U937 and red blood cells were pre-treated with rooibos and Chinese green tea extracts in the presence of a dye DCFH-DA and then exposed to oxidative stress. Green rooibos exhibited highest activity with an IC50 value of 29 μg/ml and 70 μg/ml, when U937 and red blood cells were exposed oxidative stress, respectively. Fermented rooibos and Chinese green tea had IC50 values of 61 μg/ml and 57 μg/ml for U937, respectively, and 221 μg/ml and 405 μg/ml for red blood cells, respectively. These results indicate that fermented and green rooibos extracts were able to permeate the U937 cells and red blood cell membrane and inhibited oxidation of DCFH-DA to a fluorescent DCF within the cells.

Keywords: rooibos, antioxidants, permeability, bioavailability

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Authors: Asma Righi

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After the global financial crisis of 2008, interest in ethical economics increased, particularly in the field of finance in general and commercial banks in particular. Indeed, it has become imperative for them to move from an institution that aims to make a profit to a community partner that takes the environmental aspect into account in its funding, rationalizes its decisions and adheres to ethics in its dealings. This leads it to the need of adopting the concept of ethical finance and standing on its most important principles and dimensions to realize profits on the one hand and to serve its society and its economy on the other hand. The objective of this research is centered on knowing the reality of the Algerian commercial banks’ adoption of the dimensions and principles of ethical finance. The quantitative methodology used is based on a questionnaire survey of twenty-four banking agencies in the states of Bordj Bou Arreridj and Setif. The data obtained were processed using the Statistical Package for the Social Sciences (SPSS) program. This research led to two main results: first, the author observed a limited application of the principles of ethical finance in commercial banks active in Algeria. This application is particularly in line with the implementation of the directives of the Central Bank and the imposed monetary policy. Second, the results showed that there is a significant difference in the application of ethical financial dimensions and principles between government and foreign banks.

Keywords: Algerian commercial banks, ethical banking, ethical finance, socially responsible investment

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Authors: Urvi Shah, Anmol Jain

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The talks of a New Global Order have been doing rounds since the advent of 21st century. Similar change in global scenario was witnessed when the Bretton Woods System came up post the World War II. The changing world order has been analyzed by using the Purchasing Power Parity (PPP) and Nominal Gross Domestic Product (GDP) estimates. The PPP and Nominal GDP methods show the purchasing power and financial background of the countries respectively, which helps in knowing both real and nominal financial strength of the country. Today, the rising powers of BRICS are posing new challenges to the world order shaped by the West. BRICS, i.e. Brazil, Russia, India, China and South Africa, countries have at various instances represented the interests of developing countries at world forums. The pooled population of these nations accounts for 41.6% of the total world population which gives a very resilient idea of the workforce or human resources which is mobilized by them. They have a combined GDP (PPP) of around 30.57% of the total world GDP (PPP). The paper tries to analyze the prospects and impact of the New Development Bank (NDB) formerly known as the BRICS Bank, on world economy, which has the potential to act as a rival to West dominated IMF and World Bank. The paper studies the paradigm shift in the global order, impact of the NDB on third world nations and the developed nations. The study concluded that the relative positions of BRICS countries in the world economy are changing, irrespective of the measurement methodology being US$ or the PPP model.

Keywords: BRICS, New Development Bank, Nominal GDP, purchasing power parity

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Authors: Weiju Zhou, Alex Hopkins, Ruoling Chen

Abstract:

Background: China has increased the gap in income between richer and poorer over the past 40 years, and the number of deaths from people with angina has been rising. It is unclear whether socioeconomic status (SES) is associated with increased mortality in older people with angina. Methods: Data from a cohort study of 2,380 participants aged ≥ 65 years, who were randomly recruited from 5-province urban communities were examined in China. The cohort members were interviewed to record socio-demographic and risk factors and document doctor-diagnosed angina at baseline and were followed them up in 3-10 years, including monitoring vital status. Multivariate Cox regression models were employed to examine all-cause mortality in relation to low SES. Results: The cohort follow-up identified 373 deaths occurred; 41 deaths in 208 angina patients. Compared to participants without angina (n=2,172), patients with angina had increased mortality (multivariate adjusted hazard ratio (HR) was 1.41, 95% CI 1.01-1.97). Within angina patients, the risk of mortality increased with low satisfactory income (2.51, 1.08-5.85) and having financial problem (4.00, 1.07-15.00), but significantly with levels of education and occupation. In non-angina participants, none of these four SES indicators were associated with mortality. There was a significant interaction effect between angina and low satisfactory income on mortality. Conclusions: In China, having low income and financial problem increase mortality in older people with angina. Strategies to improve economic circumstances in older people could help reduce inequality in angina survival.

Keywords: angina, mortality, older people, socio-economic status

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Authors: Tanvir A. Uddin, Blake Goud

Abstract:

Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.

Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change

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Authors: Adewoyin O. Olusegun, Akinwumi I. Isaac

Abstract:

In some part of the world where legislations related to site investigations before constructions are not strictly enforced, the expenses and time required for carrying out a comprehensive geotechnical investigation to characterize a site can discourage prospective private residential building developers. Another factor that can discourage a developer is the fact that most of the geotechnical tests procedures utilized during site investigations, to a certain extent, alter the existing environment of the site. This study suggests a quick, non-destructive and non-intrusive method of obtaining key subsoil geotechnical properties necessary for foundation design for proposed engineering facilities. Seismic wave velocities generated from near surface refraction method was used to determine the bulk density of soil, Young’s modulus, bulk modulus, shear modulus and allowable bearing capacity of a competent layer that can bear structural load at the particular study site. Also, regression equations were developed in order to directly obtain the bulk density of soil, Young’s modulus, bulk modulus, shear modulus and allowable bearing capacity from the compressional wave velocities. The results obtained correlated with the results of standard geotechnical investigations carried out.

Keywords: characterize, environment, geophysical, geotechnical, regression

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Authors: Ami Nomura, Ken Imanishi, Etsuko Ueda, Tadahiro Wada, Shinichi Enoki

Abstract:

Recently, there have been a lot of earthquakes in Japan. It is necessary to promote seismic isolation devices for buildings. The devices have been hardly diffused in attached houses, because the devices are very expensive. We should develop a low-cost seismic isolation device for detached houses. We suggested a new seismic isolation device which uses a two-layer circular tube as a unit. If hysteresis is produced in the two-layer circular tube under lateral compression load, we think that the two-layer circular tube can have energy absorbing capacity. It is necessary to contact the outer layer and the inner layer to produce hysteresis. We have previously reported how the inner layer comes in contact with the outer layer from a perspective of analysis used mechanics of materials. We have clarified that the inner layer comes in contact with the outer layer under a lateral compression load. In this paper, we explored contact area between the outer layer and the inner layer under a lateral compression load by using FEA. We think that changing the inner layer’s thickness is effective in increase the contact area. In order to change the inner layer’s thickness, we changed the shape of the inner layer. As a result, the contact area changes depending on the inner layer’s thickness. Additionally, we experimented to check whether hysteresis occurs in fact. As a consequence, we can reveal hysteresis in the two-layer circular tube under the condition.

Keywords: contact area, energy absorbing capacity, hysteresis, seismic isolation device

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Authors: Ashraf Mohammed M. Eid, Hossam El Badry

Abstract:

The bored pile friction resistance may be affected by many factors such as the method of construction, pile length and diameter, the soil properties, as well as the depth below ground level. These factors can be represented analytically to study the influence of diameter on the unit skin friction. In this research, the Egyptian Code of soil mechanics is used to assess the skin friction capacity for either the ordinary pile diameter as well as for the large pile diameter. The later is presented in the code and through the work of some researchers based on the results of investigations adopted for a sufficient number of field tests. The comparative results of these researchers with respect to the Egyptian Code are used to check the adequacy of both methods. Based on the results of this study, the traditional static formula adopted for piles of diameter less than 60 cm may be continually used for larger piles by correlating the analyzed formulae. Accordingly, the corresponding modified angle of internal friction is concluded demonstrating a reduction of shear strength due to soil disturbance along the pile shaft. Based on this research the difference between driven piles and bored piles constructed in same soil can be assessed and a better understanding can be evaluated for the effect of different factors on pile skin friction capacity.

Keywords: large piles, static formula, friction piles, sandy soils

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Authors: Ayotunde Qudus Saka, Xin Zhang

Abstract:

Purpose: The purpose of this study is to investigate how corporate governance traits affect the financial performance of banks in the sub-Saharan African region from 2008 to 2022. Methodology/Design/Approach: The performance of a few chosen banks in Sub-Saharan Africa is examined in relation to corporate governance using static panel regression analysis. The following variables were used to present corporate governance in the study: board size (BDS), board gender diversity (BGD), board independence (BDI), number of audit committee meetings (NAM), and number of foreign members on the board (SFM). Return on assets (ROA) was employed as the dependent variable. Fixed effect (FE), random effect (RE), and common effect (CE) estimators were used with static panel data. The model estimate procedure is based on the 'Log-Lin' specification. The estimation includes eleven (11) models, ten of which relate to the individual country and one that captures the SSA countries used in this study. Finding: The RE effect estimator seems to be more efficient than the FE estimator overall. Therefore, the selected estimator used for the overall country investigation is the random effect model adopted in evaluating the connection between financial success and corporate governance, and according to the all-country specification in assessing the study's goal, the fixed effect estimator is thus selected for most of the countries except for Malawi and Zambia that common effect model worked well for showing that the banks in the aforementioned countries have similar organisational cultures and management philosophies. Consequently, the selected estimators for every country were used to evaluate the connection between financial success and corporate governance. Originality/Value: Corporate governance and bank performance topics are well grounded in literature with evidence from developed countries. However, there is a darth in developing countries particularly in the sub-Saharan African region. This study presents multi-country empirical evidence within the SSAs which gives the study more samples, this study makes use of balanced data from 2008 to 2022 being the latest data coverage from SSA, and to the best knowledge of the authors, no prior research has examined the impact of corporate governance mechanisms on bank performance in the SSA region through the use of multi-country samples.

Keywords: bank performance, corporate governance, sub-Saharan African (SSA), gender diversity, foreign member of the board, multi-country

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Authors: Glaucia Maricato

Abstract:

Our research deals with specific use of DNA tests in Brazil – aimed at financial reparation for the institutionalized and otherwise scattered offspring of leprosy patients who, from the 1920s up through the 1980s, were subjected to compulsory internment in the 'hospital-colonies', specialized in the containment of Hansen’s disease. Through a social movement, the ex-patients themselves gained the right, in 2007, to financial compensations. At the moment, the movement is seeking reparation for the (now adult) children of these people as well. Many of these children grew up in orphanages, in adopted families, or do not have official documents to prove their family belonging. In 2011, a team of Brazilian geneticists had volunteered their services, applying DNA tests in order to ascertain the connection of certain individuals to an ex-internee of the leprosarium. We have accompanied the activities in four different ex-colonies in order to understand how the DNA test was being signified by those being tested, and how the test fit into already existent notions of family. Inspired in the writings of scholars such as Sheila Jasanoff and Helena Machado, we examine the possibility of a 'geneticization of family ties' when people are obliged to back their claim for human rights by producing legal proof based on blood tests. However, in like fashion to other ethnographic studies on this theme, we encountered among tested adults a number of creative strategies that allow for the co-existence of the idea of 'scientifically-based' blood ties alongside other more traditional ways of signifying kinship.

Keywords: human rights, social movements, DNA tests, Hansen's disease

Procedia PDF Downloads 142