Search results for: net foreign assets

Authors: Omnia Elkommos

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Language is communication on several discourse levels. The target of teaching a language and the literature of a foreign language is to communicate a message. Reading, appreciating, analysing, and interpreting poetry as a sophisticated rhetorical expression of human thoughts, emotions, and philosophical messages is more feasible through the use of linguistic pragmatic tools from a communicative discourse perspective. The poet's intention, speech act, illocutionary act, and perlocutionary goal can be better understood when communicative situational context as well as linguistic discourse structure theories are employed. The use of linguistic theories in the teaching of poetry is, therefore, intrinsic to students' comprehension, interpretation, and appreciation of poetry of the different ages. It is the purpose of this study to show how both teachers as well as students can apply these linguistic theories and tools to dramatic poetic texts for an engaging, enlightening, and effective interpretation and appreciation of the language. Theories drawn from areas of pragmatics, discourse analysis, embedded discourse level, communicative situational context, and other linguistic approaches were applied to selected poetry texts from the different centuries. Further, in a simple statistical count of the number of poems with dialogic dramatic discourse with embedded two or three levels of discourse in different anthologies outweighs the number of descriptive poems with a one level of discourse, between the poet and the reader. Poetry is thus discourse on one, two, or three levels. It is, therefore, recommended that teachers and students in the area of ESL/EFL use the linguistics theories for a better understanding of poetry as communicative discourse. The practice of applying these linguistic theories in classrooms and in research will allow them to perceive the language and its linguistic, social, and cultural aspect. Texts will become live illocutionary acts with a perlocutionary acts goal rather than mere literary texts in anthologies.

Keywords: coda, commissives, communicative situation, context of culture, context of reference, context of utterance, dialogue, directives, discourse analysis, dramatic discourse interaction, duologue, embedded discourse levels, language for communication, linguistic structures, literary texts, poetry, pragmatic theories, reader response, speech acts (macro/micro), stylistics, teaching literature, TEFL, terms of address, turn-taking

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Authors: Layal Mansour

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The aim of this paper is to identify whether oil price volatility or geopolitical risks can predict future financial stress periods or economic recessions in Kuwait. We construct the first Financial Stress Index for Kuwait (FSIK) that includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. The study covers the period from 2000 to 2020, so it includes the two recent most devastating world economic crises with oil price fluctuation: the Covid-19 pandemic crisis and Ukraine-Russia War. All data are taken by the central bank of Kuwait, the World Bank, IMF, DataStream, and from Federal Reserve System St Louis. The variables are computed as the percentage growth rate, then standardized and aggregated into one index using the variance equal weights method, the most frequently used in the literature. The graphical FSIK analysis provides detailed information (by dates) to policymakers on how internal financial stability depends on internal policy and events such as government elections or resignation. It also shows how monetary authorities or internal policymakers’ decisions to relieve personal loans or increase/decrease the public budget trigger internal financial instability. The empirical analysis under vector autoregression (VAR) models shows the dynamic causal relationship between the oil price fluctuation and the Kuwaiti economy, which relies heavily on the oil price. Similarly, using vector autoregression (VAR) models to assess the impact of the global geopolitical risks on Kuwaiti financial stability, results reveal whether Kuwait is confronted with or sheltered from geopolitical risks. The Financial Stress Index serves as a guide for macroprudential regulators in order to understand the weakness of the overall Kuwaiti financial market and economy regardless of the Kuwaiti dinar strength and exchange rate stability. It helps policymakers predict future stress periods and, thus, address alternative cushions to confront future possible financial threats.

Keywords: Kuwait, financial stress index, causality test, VAR, oil price, geopolitical risks

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Authors: Susanna Asatryan

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The author will introduce the Language Portfolio for master course student-teachers of Yerevan Brusov State University of Languages and Social Sciences The overall aim of the Portfolio is to serve as a visual didactic tool for the pedagogical internship of master students in specialization “A Foreign Language Teacher of High Schools and Professional Educational Institutions”, based on the principles and fundamentals of the EPOSTL. The author will present the parts of the Portfolio, including the programme, goal and objectives of student-teacher’s internship, content and organization, expected outputs and the principles of the student’s self-assessment, based on Can-do philosophy suggested by the EPOSTL. The Language Portfolio for master course student-teachers outlines the distinctive stages of their scientific-pedagogical internship. In Lesson Observation and Teaching section student teachers present thematic planning of the syllabus course, including individual lesson plan-description and analysis of the lesson. In Realization of the Scientific-Pedagogical Research section student-teachers introduce the plan of their research work, its goal, objectives, steps of procedure and outcomes. In Educational Activity section student-teachers analyze the educational sides of the lesson, they introduce the plan of the extracurricular activity, provide psycho-pedagogical description of the group or the whole class, and outline extracurricular entertainments. In the Dossier the student-teachers store up the entire instructional “product” during their pedagogical internship: e.g. samples of surveys, tests, recordings, videos, posters, postcards, pupils’ poems, photos, pictures, etc. The author’s presentation will also cover the Self Assessment Checklist, which highlights the main didactic competences of student-teachers, extracted from the EPOSTL. The Self Assessment Checklist is introduced with some innovations, taking into consideration the local educational objectives that Armenian students come across with. The students’ feedback on the use of the Portfolio will also be presented.

Keywords: internship, lesson observation, can-do philosophy, self-assessment

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Authors: Christiane Dumont

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This paper proposes to revisit foreign-language learning as a tool to increase motivation through advocacy and develop effective natural communication skills, which are critical leadership qualities. To this end, collaborative initiatives undertaken by advanced university students of French with local and international community partners will be reviewed. Close attention will be paid to the acquisition of intercultural skills, the reflective process, as well as the challenges and outcomes. Two international development projects conducted in Haiti will be highlighted, i.e., collaboration with a network of providers in the Haitian cultural heritage preservation and tourism sector (2014-15) and development of investigation and teacher training tools for a primary/secondary school in the Port-au-Prince area (current). The choice of community-service learning as a framework to teach French-as-a-second-language stemmed from the need to raise awareness against stereotypes and prejudice, which hinder the development of effective intercultural skills. This type of experiential education also proved very effective in identifying and preventing miscommunication caused by the lack of face-to-face interaction in our increasingly technology-mediated world. Learners experienced first-hand, the challenges and advantages of face-to-face communication, which, in turn, enhanced their motivation for developing effective intercultural skills. Vygotsky's and Kolb's theories, current research on service learning (Dwight, Eyler), action/project-based pedagogy (Beckett), and reflective learning (TSC Farrell), will provide useful background to analyze the benefits and challenges of community-service learning. The ultimate goal of this paper is to find out what makes experiential learning truly unique and transformative for both the learners and the community they wish to serve. It will demonstrate how enhanced motivation, community engagement, and clear, concise, and respectful communication impact and empower learners. The underlying hope is to help students in high-profile, and leading-edge industries become effective global leaders.

Keywords: experiential learning, intercultural communication, reflective learning, effective leadership, learner motivation

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Authors: Baljit Soroya

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Transnational communities are as a consequence of greater mobility of people, globalization and digitization have had a major impact on international relations and diasporas in the context of external conflicts. To a significant extent conflicts are becoming deterritorialised and informed by both internal (state politics) and external (foreign policy) players such as in Iraq and Syria leading to forced migration of unprecedented levels within the last two decades. The situation of forced migrants has, it is suggested, worsened as a consequence of the neo-liberal policies and requirements of organizations such as the European Bank. A case example of this being that of Greece, and the exacerbation of insecurity for Greek nationals and the demonization of refugees seeking sanctuary. This has been as a consequence, in part, of the neoliberal dogma of the European Bank. The article analyses the complex intersection of the real and perceived threats of international terrorism and the manner in which UK migration policy and Practice is unfolding. The policy and practice developments are explored in the context of the shift in politics in both the UK and wider Europe to the far right and the drift of main stream political parties to the right. In many cases, the mainstream political groupings, have co-opted the fears as presented by far right organization for political their own political gains, such as in the UK and France In its analysis it will be argued that, whilst international terrorism is an issue of concern, however in the context of the UK it is not of the same scale as the effects of climate change or indeed domestic violence. Given that, the question has to be asked why the threat of international terrorism is having such an impact on UK migration policy and practice and, specifically refugees. Furthermore, it is argued that this policy and practice are being formulated within a narrative that portrays migrants as the problem both in relation to terrorism and the disenfranchisement of ‘ordinary white communities’. The intersectionality of social, economic inequalities, fear of international terrorism, increase in conflicts and the political climate have contributed to a lack of trust of political establishments that have in turn sought to impress the public with their anti-immigrant rhetoric and policy agendas. The article ends by suggesting that whilst politics and political affiliations have become fractured there are nevertheless spaces for collective action, particularly in relation to issues of refugees.

Keywords: international terrorism, migration policy, conflict, media, community, politics

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Authors: Nazia Shehzad

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Language and art can supplement and correlate each other. Through the ages art has been a means of visual expression used to convey a wide series of incarnated ideas. Art can take the perceiver into different times and into different worlds. It can also be used to introduce different levels of vocabulary to the learners of a second language. Learning a second language for most students is a very difficult and strenuous experience. They are not only trying to accommodate to a new language but are also trying to adjust to themselves and a new environment. They are anxious about almost everything, but they are especially self-conscious about their performance in the classroom. By relocating the focus from the student to an object, everyone participates, thus waiving a certain degree of self-consciousness. The experience, a student has with art in the classroom has to be gratifying for both the student and the teacher. If the atmosphere in the classroom is too grave it will not serve any useful purpose. Art is an excellent way to teach English and encourage collaboration and interaction between students of all ages. As making art involves many different processes, it is wonderful for classification and following/giving instructions. It is also an effective way to achieve and implement language of characterization and comparison and vocabulary acquirement for the elements of design (shape, size, color, texture, tone etc.) is so much more entertaining if done in a practical and hands-on way. Expressing ideas and feelings through art is also of immeasurable value where students are at the beginning stages of English language acquisition and for many of my Saudi students it was a form of therapy. It is also a way to respect, search, examine and share the cultural traditions of different cultures, and of the students themselves. Art not only provides a field for ideas to keep aimless, meandering minds of students' busy but is also a productive tool to analyze English language in a new order. As an ESL teacher, using art is a highly compelling way to bridge the gap between student and teacher. It’s difficult to keep students concentrated, especially when they speak a different language. To get students to actually learn and explore something in your foreign language lesson, artwork is your best friend. Many teachers feel that through amalgamation of the arts into their academic lessons students are able to learn more profoundly because they use diverse ways of thinking and problem solving. Teachers observe that drawing often retains students who might otherwise be dispassionate and can help students move ahead simple recall when they are asked to make connections and come up with an exclusive interpretation through an artwork or drawing. Students use observation skills when they are drawing, and this can help to persuade students who might otherwise remain silent or need more time to process information.

Keywords: amalgamation of arts, expressing ideas and feelings through arts, effective way to achieve and implement language, language and art can supplement and correlate each other

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Authors: Barbora Valockova

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Scholars recommend the establishment of a multilateral coordination mechanism by ASEAN, such as an infrastructure forum, to contain the China-Japan infrastructure financing competition in the region. However, they do not systematically investigate the reasons for its absence. This paper aims to fill the gap by addressing the following question: Why has ASEAN been unable to set up any multilateral coordination mechanism to soften the China-Japan infrastructure financing competition? This paper argues that ASEAN has not been able to set up such a mechanism due to its limited centrality in connectivity. This limited centrality decreases ASEAN’s ability to manage the China-Japan competition in a more comprehensive and coordinated way. Rather, ASEAN acts as a scope setter in connectivity, although this is not completely ineffective. This paper is divided into four sections. The first section explores the key tenets of the concept of ASEAN centrality in connectivity, which is under-examined in the current literature. The second section examines the extent to which ASEAN limited centrality in connectivity is being respected by China and Japan. The third section analyses how various stakeholders, such as ASEAN member states, their leaders and bureaucracy, and foreign private companies prevent ASEAN from attaining stronger centrality. The last section concludes and offers recommendations. Data is gathered using primary sources (official ASEAN, Chinese, and Japanese documents, interviews, etc.) and secondary material. By providing a nuanced analysis of ASEAN centrality in connectivity and developing a new operationalization of the concept, this paper aims to contribute to the international relations literature on ASEAN centrality. Initial findings suggest that while ASEAN limited centrality in connectivity has some effectiveness, it is not sufficient for setting up a multilateral coordination mechanism. While it represents a solid departure point, any potential possessed by ASEAN to evolve beyond a scope setter in connectivity is hampered by stakeholders involved in infrastructure development. While these players and their interactions can have both positive and negative effects on the scope set by ASEAN, it is unlikely that they would allow ASEAN to become the real central player. There can be no stronger ASEAN centrality in connectivity without ASEAN unity and neutrality. However, the last two factors are difficult to attain in the context of infrastructure development since ASEAN member states and stakeholders all have their styles and preferences. All other things being equal, these circumstances favor a loose, vague, and quasi-prescriptive arrangement among the relevant stakeholders.

Keywords: ASEAN centrality, China-Japan infrastructure competition, connectivity, scope setter

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Authors: Vikrant Gupta, Amrit Goswami

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The fixed income market forms the basis of the modern financial market. All other assets in financial markets derive their value from the bond market. Owing to its over-the-counter nature, corporate bonds have relatively less data publicly available and thus is researched upon far less compared to Equities. Bond price prediction is a complex financial time series forecasting problem and is considered very crucial in the domain of finance. The bond prices are highly volatile and full of noise which makes it very difficult for traditional statistical time-series models to capture the complexity in series patterns which leads to inefficient forecasts. To overcome the inefficiencies of statistical models, various machine learning techniques were initially used in the literature for more accurate forecasting of time-series. However, simple machine learning methods such as linear regression, support vectors, random forests fail to provide efficient results when tested on highly complex sequences such as stock prices and bond prices. hence to capture these intricate sequence patterns, various deep learning-based methodologies have been discussed in the literature. In this study, a recurrent neural network-based deep learning model using long short term networks for prediction of corporate bond prices has been discussed. Long Short Term networks (LSTM) have been widely used in the literature for various sequence learning tasks in various domains such as machine translation, speech recognition, etc. In recent years, various studies have discussed the effectiveness of LSTMs in forecasting complex time-series sequences and have shown promising results when compared to other methodologies. LSTMs are a special kind of recurrent neural networks which are capable of learning long term dependencies due to its memory function which traditional neural networks fail to capture. In this study, a simple LSTM, Stacked LSTM and a Masked LSTM based model has been discussed with respect to varying input sequences (three days, seven days and 14 days). In order to facilitate faster learning and to gradually decompose the complexity of bond price sequence, an Empirical Mode Decomposition (EMD) has been used, which has resulted in accuracy improvement of the standalone LSTM model. With a variety of Technical Indicators and EMD decomposed time series, Masked LSTM outperformed the other two counterparts in terms of prediction accuracy. To benchmark the proposed model, the results have been compared with traditional time series models (ARIMA), shallow neural networks and above discussed three different LSTM models. In summary, our results show that the use of LSTM models provide more accurate results and should be explored more within the asset management industry.

Keywords: bond prices, long short-term memory, time series forecasting, empirical mode decomposition

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Authors: Amaal Ali Al-Gamde

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The Syrian revolution is a major issue in the Middle East, which draws in world powers and receives a great focus in international mass media since 2011. The heavy global reliance on cyber news and digital sources plays a key role in conveying a sense of bias to a wide range of online readers. Thus, based on the assumption that media discourse possesses ideological implications, this study investigates the representation of Syrian revolution in online media. The paper explores the discursive constructions of anti and pro-government powers in Syrian revolution in 1000,000-word corpus of Fars online reports (an Iranian news agency), issued between 2013 and 2015. Taking a corpus assisted discourse analysis approach, the analysis investigates three types of lexicosemantic relations, the semantic macrostructures within which the two social actors are framed, the lexical collocations characterizing the news discourse and the discourse prosodies they tell about the two sides of the conflict. The study utilizes computer-based approaches, sketch engine and AntConc software to minimize the bias of the subjective analysis. The analysis moves from the insights of lexical frequencies and keyness scores to examine themes and the collocational patterns. The findings reveal the Fars agency’s ideological mode of representations in reporting events of Syrian revolution in two ways. The first is by stereotyping the opposition groups under the umbrella of terrorism, using words such as (law breakers, foreign-backed groups, militant groups, terrorists) to legitimize the atrocities of security forces against protesters and enhance horror among civilians. The second is through emphasizing the power of the government and depicting it as the defender of the Arab land by foregrounding the discourse of international conspiracy against Syria. The paper concludes discussing the potential importance of triangulating corpus linguistic tools with critical discourse analysis to elucidate more about discourses and reality.

Keywords: discourse prosody, ideology, keyness, semantic macrostructure

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Authors: Yih-Wenn Laih

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In recent times, the dependence and co-movement among international financial markets have become stronger than in the past, as evidenced by commentaries in the news media and the financial sections of newspapers. Studying the co-movement between returns in financial markets is an important issue for portfolio management and risk management. The realization of co-movement helps investors to identify the opportunities for international portfolio management in terms of asset allocation and pricing. Since the election of the new Prime Minister, Shinzo Abe, in November 2012, the yen has weakened against the US dollar from the 80 to the 120 level. The policies, known as “Abenomics,” are to encourage private investment through a more aggressive mix of monetary and fiscal policy. Given the close economic relations and competitions among Asia markets, it is interesting to discover the co-movement relations, affected by the depreciation of yen, between stock market of Japan and 5 major Asia stock markets, including China, Hong Kong, Korea, Singapore, and Taiwan. Specifically, we devote ourselves to measure the co-movement of stock markets between Japan and each one of the 5 Asia stock markets in terms of rank correlation coefficients. To compute the coefficients, return series of each stock market is first fitted by a skewed-t GARCH (generalized autoregressive conditional heteroscedasticity) model. Secondly, to measure the dependence structure between matched stock markets, we employ the symmetrized Joe-Clayton (SJC) copula to calculate the probability density function of paired skewed-t distributions. The joint probability density function is then utilized as the scoring scheme to optimize the sequence alignment by dynamic programming method. Finally, we compute the rank correlation coefficients (Kendall's  and Spearman's ) between matched stock markets based on their aligned sequences. We collect empirical data of 6 stock indexes from Taiwan Economic Journal. The data is sampled at a daily frequency covering the period from January 1, 2013 to July 31, 2015. The empirical distributions of returns indicate fatter tails than the normal distribution. Therefore, the skewed-t distribution and SJC copula are appropriate for characterizing the data. According to the computed Kendall’s τ, Korea has the strongest co-movement relation with Japan, followed by Taiwan, China, and Singapore; the weakest is Hong Kong. On the other hand, the Spearman’s ρ reveals that the strength of co-movement between markets with Japan in decreasing order are Korea, China, Taiwan, Singapore, and Hong Kong. We explore the effects of “Abenomics” on Asia stock markets by measuring the co-movement relation between Japan and five major Asia stock markets in terms of rank correlation coefficients. The matched markets are aligned by a hybrid method consisting of GARCH, copula and sequence alignment. Empirical experiments indicate that Korea has the strongest co-movement relation with Japan. The strength of China and Taiwan are better than Singapore. The Hong Kong market has the weakest co-movement relation with Japan.

Keywords: co-movement, depreciation of Yen, rank correlation, stock market

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Authors: Augustar Omoze Ehighalua, Itotenaan Henry Ogiri

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As a mono-product economy, Nigeria relies largely on oil revenues for its foreign exchange earnings and the exploration activities of firms operating in the Niger Delta region have left in its wake tales of environmental degradation, poverty and misery. This, no doubt, have created corporate social responsibility issues in the region. The focus of this research is the critical evaluation of the ethical response to Corporate Social Responsibility (CSR) practice by firms operating in Nigeria Delta Swamplands. While CSR is becoming more popular in developed society with effective practice guidelines and reporting benchmark, there is a relatively low level of awareness and selective applicability of existing international guidelines to effectively support CSR practice in Nigeria. This study, haven identified the lack of CSR institutional framework attempts to develop an ethically-driven CSR transparency benchmark laced within a regulatory framework based on international best practices. The research adopts a qualitative methodology and makes use of primary data collected through semi-structured interviews conducted across the six core states of the Niger Delta Region. More importantly, the study adopts an inductive, interpretivist philosophical paradigm that reveal deep phenomenological insights into what local communities, civil society and government officials consider as good ethical benchmark for responsible CSR practice by organizations. The institutional theory provides for the main theoretical foundation, complemented by the stakeholder and legitimacy theories. The Nvivo software was used to analyze the data collected. This study shows that ethical responsibility is lacking in CSR practice by firms in the Niger Delta Region of Nigeria. Furthermore, findings of the study indicate key issues of environmental, health and safety, human rights, and labour as fundamental in developing an effective CSR practice guideline for Nigeria. The study has implications for public policy formulation as well as managerial perspective.

Keywords: corporate social responsibility, CSR, ethics, firms, Niger-Delta Swampland, Nigeria

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Authors: N. Šarlija, S. Pfeifer, M. Jeger, A. Bilandžić

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Enterprise growth is generally considered as a key driver of competitiveness, employment, economic development and social inclusion. As such, it is perceived to be a highly desirable outcome of entrepreneurship for scholars and decision makers. The huge academic debate resulted in the multitude of theoretical frameworks focused on explaining growth stages, determinants and future prospects. It has been widely accepted that enterprise growth is most likely nonlinear, temporal and related to the variety of factors which reflect the individual, firm, organizational, industry or environmental determinants of growth. However, factors that affect growth are not easily captured, instruments to measure those factors are often arbitrary, causality between variables and growth is elusive, indicating that growth is not easily modeled. Furthermore, in line with heterogeneous nature of the growth phenomenon, there is a vast number of measurement constructs assessing growth which are used interchangeably. Differences among various growth measures, at conceptual as well as at operationalization level, can hinder theory development which emphasizes the need for more empirically robust studies. In line with these highlights, the main purpose of this paper is twofold. Firstly, to compare structure and performance of three growth prediction models based on the main growth measures: Revenues, employment and assets growth. Secondly, to explore the prospects of financial indicators, set as exact, visible, standardized and accessible variables, to serve as determinants of enterprise growth. Finally, to contribute to the understanding of the implications on research results and recommendations for growth caused by different growth measures. The models include a range of financial indicators as lag determinants of the enterprises’ performances during the 2008-2013, extracted from the national register of the financial statements of SMEs in Croatia. The design and testing stage of the modeling used the logistic regression procedures. Findings confirm that growth prediction models based on different measures of growth have different set of predictors. Moreover, the relationship between particular predictors and growth measure is inconsistent, namely the same predictor positively related to one growth measure may exert negative effect on a different growth measure. Overall, financial indicators alone can serve as good proxy of growth and yield adequate predictive power of the models. The paper sheds light on both methodology and conceptual framework of enterprise growth by using a range of variables which serve as a proxy for the multitude of internal and external determinants, but are unlike them, accessible, available, exact and free of perceptual nuances in building up the model. Selection of the growth measure seems to have significant impact on the implications and recommendations related to growth. Furthermore, the paper points out to potential pitfalls of measuring and predicting growth. Overall, the results and the implications of the study are relevant for advancing academic debates on growth-related methodology, and can contribute to evidence-based decisions of policy makers.

Keywords: growth measurement constructs, logistic regression, prediction of growth potential, small and medium-sized enterprises

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Authors: Yu-Chen Chien, Sheng-Jung Ou, Shang-Ling Hsu

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Many aboriginal tribes in the early modern began to actively promote tribal tourism. The tribe uses rich ecological environment and unique folk culture successfully attract crowds. In addition to the tribe in the construction level to consider the cultural heritage and living needs, in order to improve tribal tourism for the tribe to bring the benefits of all levels, as well as to avoid the tourism industry is too prosperous brought negative tourism impact. How to successfully create the conditions of mutual benefit of residents and tourists is an important issue common to many tribes. Hualien Turuku Hongye Tribe in Taiwan around the tourist resources are very rich. It is famous for its Hongye hot springs and Ruisui hot springs. Hongye tribe to develop tribal tourism is bound to use its own has three advantages: Truku culture, in the agricultural products experience and marketing, and the surrounding hot springs industry tourism benefits. Tribal Development Association in the past to promote these three advantages for tribal tourism. But due to the impact of many levels led to the tribes in the promotion of tourism on the ineffective. At present, in addition to the Hongye Tribal Development Association in promoting tribal tourism, local residents to promote cultural heritage workshop also gradually rise. Its purpose is to link local cultural resources, agricultural specialty resources, spa tourism industry, the revitalization of the internal development of the tribes at all levels. Each tribe to promote tribal tourism due to geographical environment, resource types have a different set of practices and patterns. This study explores the tourist opportunities and resource points of Hongye tribes, and tribal tourism has been to promote the operation practices and benefits. To understand the difficulties encountered in the implementation of tribal tourism and the impact of all levels. Reference successful development of domestic and foreign tourism tribal tribe case. Develop a questionnaire and using the questionnaire survey to understand tribal residents for the tribal tribes to promote tribal tourism views. Finally, it puts forward some suggestions and strategies to promote the tribal tourism in Hongye tribe.

Keywords: cultural tourism, tourism impact, aboriginal tribe, Hongye Tribe

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Authors: Nur R. Daut

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The objective of this paper is to offer an insight on how political power inequality has contributed and exacerbated the political violence towards the Rohingya ethnic group in Myanmar. In particular, this paper attempts to illustrate how power inequality in the country has prevented Myanmar’s leader Aung San Suu Kyi from taking effective measures on the issue. The research centers on the question of why Aung San Suu Kyi has been seen as not doing enough to stop the persecution of the Rohingya ethnic group ever since she was appointed the State Counsellor to the Myanmar government. As a Nobel Peace Prize laureate, Suu Kyi’s lack of action on the matter has come under severe criticism by the international community. Many have seen this as Suu Kyi’s failure to establish democracy and allowing mass killing to spread in the country. The real question that many perhaps should be asking, however, is how much power Suu Kyi actually holds within the government which is still heavily controlled by the military or Tatmadaw. This paper argues that Suu Kyi’s role within the government is limited which hinders constructive and effective measures to be taken on the Rohingya issue. Political power in this research is being measured by 3 factors: control over events such as burning of Rohingya villages, control over resources such as land ownership and media and control over actors such the Tatmadaw, police force and civil society who are greatly needed to ease and resolve the conflict. In order to illustrate which individuals or institution have control over all the 3 above factors, this paper will first study the constitution of Myanmar. The constitution will also be able to show the asymmetrical power relations as it will provide evidence as to how much political power Suu Kyi holds within the government in comparison to other political actors and institutions. Suu Kyi’s role as a state counsellor akin to a prime minister is a newly created position as the current constitution of Myanmar bars anyone with a foreign spouse from holding the post of a president in the country. This is already an indication of the inequality of political power between Suu Kyi and the military. Apart from studying the constitution of Myanmar, Suu Kyi’s speeches and various interviews are also studied in order to answer the research question. Unfortunately, Suu Kyi’s limited political power also involves the Buddhist monks in Myanmar who have held significant influence throughout the history of the country. This factor further prevents Suu Kyi from preserving the sanctity of human rights in Myanmar.

Keywords: Aung San Suu Kyi, constitution of Myanmar, inequality, political power, political violence, Rohingya, Tatmadaw

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Authors: Ana Pinheiro, Fatima Suleman

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Literature has revealed strong awareness of companies in regard of expatriation, but issues associated with repatriation of employees after an international assignment have been overlooked. Repatriation is one of the most challenging human resource practices that affect how companies benefit from acquired skills and high potential employees; and gain competitive advantage through network developed during expatriation. However, empirical evidence achieved so far suggests that expatriates have been disappointed because companies lack an effective repatriation strategy. Repatriates’ professional and emotional needs are often unrecognized, while repatriation is perceived as a non-issue by companies. The underlying assumption is that the return to parent company, and original country, culture and language does not demand for any particular support. Unfortunately, this basic view has non-negligible consequences on repatriates, especially on expatriate retention and turnover rates after expatriation. The goal of our study is to examine the specific policies and practices adopted by companies to support employees after an international assignment. We assume that expatriation is process which ends with repatriation. The latter is such a crucial issue as the expatriation and require due attention through appropriate design of human resource management policies and tools. For this purpose, we use data from a qualitative research based on interviews to a sample of firms operating in Portugal. We attempt to compare how firms accommodate the concerns with repatriation in their policies and practices. Therefore, the interviews collect data on both expatriation and repatriation process, namely the selection and skills of candidates to expatriation, training, mentoring, communication and pay policies. Portuguese labor market seems to be an interesting case study for mainly two reasons. On the one hand, Portuguese Government is encouraging companies to internationalize in the context of an external market-oriented growth model. On the other hand, expatriation is being perceived as a job opportunity in the context of high unemployment rates of both skilled and non-skilled. This is an ongoing research and the data collected until now indicate that companies follow the pattern described in the literature. The interviewed companies recognize the higher relevance of repatriation process than expatriation, but disregard specific human resource policies. They have perceived that unfavorable labor market conditions discourage mobility across companies. It should be stressed that companies underline that employees enhanced the relevance of stable jobs and attach far less importance to career development and other benefits after expatriation. However, there are still cases of turnover and difficulties of retention. Managers’ report non-negligible cases of turnover associated with lack of effective repatriation programs and non-recognition of good performance. Repatriates seem to having acquired entrepreneurial spirit and skills and often create their own company. These results suggest that even in the context of worsening labor market conditions, there should be greater awareness of the need to retain talents, experienced and highly skills employees. Ultimately, other companies poach invaluable assets, while internationalized companies risk being training providers.

Keywords: expatriates, expatriation, international management, repatriation

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Authors: Manal Elsayed Elkheshin, Rasha Saleh Mansour, Mohamed Fawzy Mohamed Eldnasury, Mamdouh Elbadry Mohamed

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This research Aims to identify the main factors affecting the production and the fish consumption in Egypt, through the econometric estimation for various forms functions of fish production and fish consumption during the period (1991-2014), as the aim of this research to forecast the production and the fish consumption in Egypt until 2020, through determine the best standard methods using (ARIMA).This research also aims to the economic feasibility of the production of fish in aquaculture farms study; investment cost and represents the value of land, buildings, equipment and irrigation. Aquaculture requires three types of fish (Tilapia, carp fish, and mullet fish), and the total area of the farm, about an acre. The annual Fish production from this project about 3.5 tons. The annual investment costs of about 50500 pounds, Find conclude that the project can repay the cost of their investments after about 4 years and 5 months, and therefore recommend the implementation of the project, and internal rate of return reached (IRR) of about 22.1%, where it is clear that the rate of large internal rate of return, and achieves pound invested in this project annual return is estimated at 22.1 pounds, more than the opportunity cost, so we recommend the need to implement the project.Recommendations:1. Increasing the fish agriculture to decrease the gap of animal protein. 2.Increasing the number of mechanism fishing boats, and the provision of transport equipped to maintain the quality of fish production. 3.Encourage and attract the local and foreign investments, providing advice to the investor on the aquaculture field. 4. Action newsletters awareness of the importance of these projects where these projects resulted in a net profit after recovery in less than five years, IRR amounted to about 23%, which is much more than the opportunity cost of a bank interest rate is about 7%, helping to create work and graduates opportunities, and contribute to the reduction of imports of the fish, and improve the performance of the food trade balance.

Keywords: equation model, individual share, red meat, consumption, production, endogenous variable, exogenous variable, financial performance evaluates fish culture, feasibility study, fish production, aquaculture

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Authors: Vivian A. Panes, Raymond John S. Rebong, Miel Q. Diaz

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Moringa oleifera Lam. is known mainly for its high nutritional value and medicinal properties contributing to its popular reputation as a 'miracle plant' in the tropical climates where it usually grows. The main objective of this study is to discover the genes and gene products involved in abiotic stress-induced activity that may impact the M. oleifera Lam. mature seeds as well as their corresponding functions. In this study, RNA-sequencing and de novo transcriptome assembly were performed using two assemblers, Trinity and Oases, which produced 177,417 and 120,818 contigs respectively. These transcripts were then subjected to various bioinformatics tools such as Blast2GO, UniProt, KEGG, and COG for gene annotation and the analysis of relevant metabolic pathways. Furthermore, FPKM analysis was performed to identify gene expression levels. The sequences were filtered according to the 'response to stress' GO term since this study dealt with stress response. Clustered Orthologous Groups (COG) showed that the highest frequencies of stress response gene functions were those of cytoskeleton which make up approximately 14% and 23% of stress-related sequences under Trinity and Oases respectively, recombination, repair and replication at 11% and 14% respectively, carbohydrate transport and metabolism at 23% and 9% respectively and defense mechanisms 16% and 12% respectively. KEGG pathway analysis determined the most abundant stress-response genes in the phenylpropanoid biosynthesis at counts of 187 and 166 pathways for Oases and Trinity respectively, purine metabolism at 123 and 230 pathways, and biosynthesis of antibiotics at 105 and 102. Unique and cumulative GO term counts revealed that majority of the stress response genes belonged to the category of cellular response to stress at cumulative counts of 1,487 to 2,187 for Oases and Trinity respectively, defense response at 754 and 1,255, and response to heat at 213 and 208, response to water deprivation at 229 and 228, and oxidative stress at 508 and 488. Lastly, FPKM was used to determine the levels of expression of each stress response gene. The most upregulated gene encodes for thiamine thiazole synthase chloroplastic-like enzyme which plays a significant role in DNA damage tolerance. Data analysis implies that M. oleifera stress response genes are directed towards the effects of climate change more than other stresses indicating the potential of M. oleifera for cultivation in harsh environments because it is resistant to climate change, pathogens, and foreign invaders.

Keywords: stress response, genes, Moringa oleifera, transcriptomics

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Authors: Pasan Dunuwila, V. H. L. Rodrigo, Naohiro Goto

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Sri Lanka is one the largest natural rubber (NR) producers of the world, where the NR industry is a major foreign exchange earner. Among the locally manufactured NR products, concentrated latex (CL) and ribbed smoked sheets (RSS) hold a significant position. Furthermore, these products become the foundation for many products utilized by the people all over the world (e.g. gloves, condoms, tires, etc.). Processing of CL and RSS costs a significant amount of material, energy, and workforce. With this background, both manufacturing lines have immensely challenged by waste, low productivity, lack of cost efficiency, rising cost of production, and many environmental issues. To face the above challenges, the adaptation of sustainable manufacturing measures that use less energy, water, materials, and produce less waste is imperative. However, these sectors lack comprehensive studies that shed light on such measures and thoroughly discuss their improvement potentials from both environmental and economic points of view. Therefore, based on a study of three CL and three RSS mills in Sri Lanka, this study deploys sustainable manufacturing techniques and tools to uncover the underlying potentials to improve performances in CL and RSS processing sectors. This study is comprised of three steps: 1. quantification of average material waste, economic losses, and greenhouse gas (GHG) emissions via material flow analysis (MFA), material flow cost accounting (MFCA), and life cycle assessment (LCA) in each manufacturing process, 2. identification of improvement options with the help of Pareto and What-if analyses, field interviews, and the existing literature; and 3. validation of the identified improvement options via the re-execution of MFA, MFCA, and LCA. With the help of this methodology, the economic and environmental hotspots, and the degrees of improvement in both systems could be identified. Results highlighted that each process could be improved to have less waste, monetary losses, manufacturing costs, and GHG emissions. Conclusively, study`s methodology and findings are believed to be beneficial for assuring the sustainable growth not only in Sri Lankan NR processing sector itself but also in NR or any other industry rooted in other developing countries.

Keywords: concentrated latex, natural rubber, ribbed smoked sheets, Sri Lanka

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Authors: Xinrong Zong, Tao Zhang

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Macau is known as the Oriental Monte Carlo and its economy depends on gambling heavily. The dealer is the key position of the gambling industry, at the end of the fourth quarter of 2015, there were over 24,000 dealers among the 56,000 full-time employees in gambling industry. More than half of dealers were female. The dealer is also called 'Croupier', the main responsibilities of them are shuffling, dealing, processing chips, rolling dice game and inspecting play. Due to the limited land and small population of Macao, the government has not allowed hiring foreign domestic dealers since Macao developed temporary gambling industry. Therefore, local dealers enjoy special advantages but also bear the high stresses from work. From the middle of last year, with the reduced income of gambling, and the decline of mainland gamblers as well as VIP lounges, the working time of dealers increased greatly. Thus, many problems occurred in this condition, such as the rise of working pressures, psychological pressures and family-responsibility pressures, which may affect job satisfaction as well. Because of the less research of dealer satisfaction, and a lack of standing on feminine perspective to analyze female dealers, this study will focus on investigating the relationship between working pressure and job satisfaction from feminine view. Several issues will be discussed specifically: firstly, to understand current situation of the working pressures and job satisfactions of female dealers in different ages; secondly, to research if there is any relevance between working pressures and job satisfactions of female dealers in different ages; thirdly, to find out the relationship between dealers' working pressures and job satisfactions in different ages. This paper combined qualitative approach with quantitative approach selected samples by convenient sampling. The research showed the female dealers from diverse ages have different kinds of working pressures; second, job satisfactions of the female dealers in different ages are dissimilar; moreover, there is negative correlation between working pressure and job satisfaction of female dealer in different ages' groups; last but not the least, working pressure has a significant negative impact on job satisfaction. The research result will provide a reference value for the Macau gambling business. It is a pattern to improve dealers' working environment, to increase employees' job satisfaction, as well as to offer tourists a better service, which can help to attract more and more visitors from a good image of Macau gaming and tourism.

Keywords: female dealers, job satisfaction, working pressure, Macau

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Authors: Mekonen Hailu, Liu Liping

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Cage aquaculture is highly preferred due to higher production per unit volume of water, lower costs of investment, and simpler routine farm management procedures compared to pond systems. In the 1980s, cage culture was first used on a trial basis in sub-Saharan Africa. Over the past 20 years, a small number of prosperous freshwater cage culture operations have started to emerge in Egypt, Rwanda, Kenya, Uganda, Tanzania, Ghana, Malawi, Zambia and Zimbabwe. Brackish and marine cage culture also offers a lot of potential, although this subsector hasn't seen any significant commercial growth to date. In 2019, 263 cage aquaculture installations on the African inland waters on 18 water bodies within eight countries with an estimated 20,114 cages were reported. The lakes Victoria, Kariba, Volta, and River Volta, which together account for 82.9% of all cage aquaculture installations regarded as sub-Saharan Africa's principal cage aquaculture regions (Fig 1). Except few small-scale trials with North African catfish (Clarias gariepinus), almost all farms in Sub-Saharan Africa and Egypt grow Nile tilapia (Oreochromis niloticus). More than 247,398 tonnes of fish are produced yearly from ten African countries through cage aquaculture. The expansion of cage culture in Africa provides job opportunities for both skilled and unskilled workers, nutritious food and foreign currency. The escaping non-native strains of tilapia in Lake Volta and the occurrence of a risky Tilapia lake virus (syncytial hepatitis), which has the potential to wipe out entire populations in both wild and farmed Nile tilapia on Lake Victoria, are threats coming with the expansion of cage aquaculture in Africa. In addition, the installations of 138 cage aquacultures were found in contrary to best cage culture practices. To sustain cage aquaculture development and maintain harmony with other water uses, developers must strictly abide by best practices. Hence, the exclusion of protected areas and small lakes (average depth 5 m or less) should be done, as well an Environmental Impact Assessment should be conducted before establishing the cage farms.

Keywords: Africa, cage aquaculture, production, threats

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Authors: Lei Ping

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The Western discourse of ‘modernity’ along with its objects, ideologies, and culture are brought to Imperial China by force of arms which confronted Chinese traditions. The struggle and conflicts between ‘Zhong’ (Chinese) and ‘Wai' (foreign), ‘Jiu’(Old) and ‘Xin’(New) are continuous during the turbulent times of 19th Century China. Since the foundation of the People’s Republic in 1949, China has gone through radical social, economic and cultural reform under the Communist Party’s highly centralised and autocratic political regime. The regime and Chairman Mao’s eagerness to identify the new China and establish a revolutionary mono-culture have increased political influence on the modernisation process. The ten years of Cultural Revolution (1966-76) have commonly been neglected and separated from China’s modern history due to its political, emotional and various other associations. Its cultural productions which dictated the Chinese stages during this period, namely the yangbanxi (Model Works), are largely viewed as political propaganda material with little or no artistic value in the nation’s cultural development. This paper argues that far from being anti modernisation of culture, the yangbanxi carry continuities that originate from before the cultural revolution and influence later cultural productions up till today. The focus of the paper is on Hongse Niangzijun (The Red Detachment of Women), a ballet yangbanxi (Model Works) which was performed to President Nixon during his visit to China in 1972. It depicts the female soldier Wu Qionghua’s life story: a transformation from a peasant girl to a mature communist soldier. The first part of the paper begins with an introduction to the cultural, social and political contexts under which the ballet was created and made a yangbanxi (Model work). The second part examines the application of musical devices (e.g. instrumentation, leitmotif), ranging from typical Western techniques to Chinese musical and theatrical traditions. By analysing, connecting and comparing these musical devices of various origins, the paper illustrates that the yangbanxi (Model Works) largely contributes to the ever-present, continuing and evolving modernisation of contemporary Chinese culture.

Keywords: cultural revolution, Hongse Niangzijun (Red Detachment of Women), modern China, music, Yangbanxi (model works)

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Authors: Korbinian Schmidtner, Rudolf Sailer, Perry Bartelt, Wolfgang Fellin, Jan-Thomas Fischer, Matthias Granig

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This study focuses on the evaluation of snow avalanche simulations, based on a survey that has been carried out among avalanche experts. In the last decades, the application of avalanche simulation tools has gained recognition within the realm of hazard management. Traditionally, avalanche runout models were used to predict extreme avalanche runout and prepare avalanche maps. This has changed rather dramatically with the application of numerical models. For safety regulations such as road safety simulation tools are now being coupled with real-time meteorological measurements to predict frequent avalanche hazard. That places new demands on model accuracy and requires the simulation of physical processes that previously could be ignored. These simulation tools are based on a deterministic description of the avalanche movement allowing to predict certain quantities (e.g. pressure, velocities, flow heights, runout lengths etc.) of the avalanche flow. Because of the highly variable regimes of the flowing snow, no uniform rheological law describing the motion of an avalanche is known. Therefore, analogies to fluid dynamical laws of other materials are stated. To transfer these constitutional laws to snow flows, certain assumptions and adjustments have to be imposed. Besides these limitations, there exist high uncertainties regarding the initial and boundary conditions. Further challenges arise when implementing the underlying flow model equations into an algorithm executable by a computer. This implementation is constrained by the choice of adequate numerical methods and their computational feasibility. Hence, the model development is compelled to introduce further simplifications and the related uncertainties. In the light of these issues many questions arise on avalanche simulations, on their assets and drawbacks, on potentials for improvements as well as their application in practice. To address these questions a survey among experts in the field of avalanche science (e.g. researchers, practitioners, engineers) from various countries has been conducted. In the questionnaire, special attention is drawn on the expert’s opinion regarding the influence of certain variables on the simulation result, their uncertainty and the reliability of the results. Furthermore, it was tested to which degree a simulation result influences the decision making for a hazard assessment. A discrepancy could be found between a large uncertainty of the simulation input parameters as compared to a relatively high reliability of the results. This contradiction can be explained taking into account how the experts employ the simulations. The credibility of the simulations is the result of a rather thoroughly simulation study, where different assumptions are tested, comparing the results of different flow models along with the use of supplemental data such as chronicles, field observation, silent witnesses i.a. which are regarded as essential for the hazard assessment and for sanctioning simulation results. As the importance of avalanche simulations grows within the hazard management along with their further development studies focusing on the modeling fashion could contribute to a better understanding how knowledge of the avalanche process can be gained by running simulations.

Keywords: expert interview, hazard management, modeling, simulation, snow avalanche

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Authors: Tasneem Chopra

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The 1968 Summer Olympics will forever be remembered for the silent protest against racism exhibited by American athletes Tommy Smith and John Carlos. Also standing on the medal podium was Australian Peter Norman, whose silent solidarity as a white sportsman completes the powerful, evocative image of that night in Mexico City. In the 50 years since Norman’s stance of solidarity with his American counterparts, Australian sports has traveled a wide arc of racism narratives, with athletes still experiencing episodes of bigotry, both on the pitch and elsewhere. Aboriginal athletes, like tennis champion Yvonne Goolagong, have endured the plaudits of appreciation for their achievements on both the national and international stage, while simultaneously being subject to both prejudice and even questions as to their right to represent their country as full, acceptable citizens. Racism in Australia is directed toward Australian athletes of colour as well as foreign sportspeople who visit the country. The complex, mutating nature of racism in Australia is also informed by the culture of silence, where fellow athletes stand mute in light of their colleagues’ experience with bigotry. This paper analyses the phenomenon of sports racism in Australia over the past fifty years, culminating in the most recent showdown between Heretier Lumumba, former Collingwood football player, and his public allegations of racism experienced by team mates over his 10 year career. It shall examine the treatment and mistreatment of athletes because of their race and will further assess how such public perceptions both shape Australian culture or are themselves a manifestation of preexisting pathologies of bigotry. Further, it will examine the efficacy of anti-racism initiatives in responding to this hate. This paper will analyse the growing influence of corporate and media entities in crafting the economics of Australian sports and assess the role of such factors in creating the narrative of racism in the nation, both as a sociological reality as well as a marker of national identity. Finally, this paper will examine the political, social and economic forces that contribute to the culture of silence in Australian society in defying racism.

Keywords: aboriginal, Australia, corporations, silence

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Authors: Kalina Alina Aidarovna, Khayrullina Yulia Sergeevna

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The question of forming quality housing and living environment remains a vexed problem in the current situation of high-rise apartment building in big cities of Russia. At this start up stage of the modern so-called "mass housing" market it needs to identify key quality characteristics on a different scale from apartments to the district. This paper describes the methodology of qualitative assessment of modern mass housing construction, made on the basis of the ITMO university in cooperation with the institute of spatial planning "Urbanika," based on the case study of St. Petersburg’s residential mass housing built in 2011-2014. The methodology of the study of housing and living environment goes back to the native and foreign urbanists of 60s - 80s, such Jane Jacobs, Jan Gehl, Oscar Newman, Krasheninnikov, as well as Sommer, Stools, Kohnen and Sherrod, Krasilnikova, Sychev, Zhdanov, Tinyaeva considering spatial features of living environment in a wide range of its characteristics (environmental control, territorial and personalization, privacy, etc.). Assessment is carrying out on the proposed system of criteria developed for each residential environment scale-district, quarter, courtyard, building surrounding grounds, houses, and flats. Thus the objects of study are planning unit of residential development areas (residential area, neighborhood, quarter) residential units areas (living artist, a house), and households (apartments) consisting of residential units. As a product of identified methodology, after the results of case studies of more than 700 residential complexes in St. Petersburg, we intend the creation of affordable online resource that would allow conducting a detailed qualitative evaluation or comparative characteristics of residential complexes for all participants of the construction market-developers, designers, realtors and buyers. Thereby the main objective of the rating may be achieved to improve knowledge, requirements, and demand for quality housing and living environment among the major stakeholders of the construction market.

Keywords: methodology of living environment, qualitative assessment of mass housing, scale-district, vexed problem

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Authors: S. Gustafsson

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The aim of this paper is to explore the connection between gender, agency, and health on personal and social levels over time. The use of gender as an analytical tool for health research has been shown to be useful to explore thoughts and ideas that are taken for granted, which have relevance for health. The paper highlights the following three issues. There are multiple forms of femininity and masculinity. Agency and social structure are closely related and referred to in this paper as 'gender agency'. Gender is illuminated as a product of history but also treated as a social factor and a producer of history. As a prominent social factor in the process of shaping living conditions, gender is highlighted as being significant for understanding health. To make health explicit as a dynamic and complex concept and not merely the opposite of disease requires a broader alliance with feminist theory and a post-Bourdieusian framework. A personal story, included with other ethnographic material about women’s networking in rural Sweden, is used as an empirical illustration. Ethnographic material was chosen for its ability to illustrate historical, local, and cultural ways of doing gendered and capitalized health. New concepts characterize ethnography, exemplified in this study by 'processes of transformation'. The semi-structured interviews followed an interview guide drafted with reference to the background theory of gender. The interviews lasted about an hour and were recorded and transcribed verbatim. The transcribed interviews and the author’s field notes formed the basis for the writing up of this paper. Initially, the participants' interests in weaving, sewing, and various handicrafts became obvious foci for networking activities and seemed at first to shape compliance with patriarchy, which generally does the opposite of promoting health. However, a significant event disrupted the stability of this phenomenon. What was permissible for the women began to crack and new spaces opened up. By exploiting these new spaces, the participants found opportunities to try out alternatives to emphasized femininity. Over time, they began combining feminized activities with degrees of masculinity, as leadership became part of the activities. In response to this, masculine enactment was gradually transformed and became increasingly gender neutral. As the tasks became more gender neutral the activities assumed a more formal character and the women stretched the limits of their capacity by enacting gender agency, a process the participants referred to as 'personal growth' and described as health promotion. What was described in terms of 'personal growth' can be interpreted as the effects of a raised status. Participation in women’s networking strengthened the participants’ structural position. More specifically, it was the gender-neutral position that was rewarded. To clarify the connection between gender, agency, and health on personal and social levels over time the concept processes of transformation is used. This concept is suggested as a dynamic equivalent to habitus. Health is thus seen as resulting from situational access to social recognition, prestige, capital assets and not least, meanings of gender.

Keywords: a cross-gender bodily hexis, gender agency, gender as analytical tool, processes of transformation

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Authors: Tomola Obamuyi

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The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

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Authors: Halil Bas, Unal Demiray, Sukru Dursun

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Water and ground water pollution at the most of the countries is important problem. Investigation of water pollution source must be carried out to save fresh water. Because fresh water sources are very limited and recent sources are not enough for increasing population of world. In this study, investigation was carried out on pollution factors effecting the quality of the groundwater in Çorum Stream Basin in Turkey. Effect of geological structure of the region and the interaction between the stream and groundwater was researched. For the investigation, stream and groundwater sampling were performed at rainy and dry seasons to see if there is a change on quality parameters. The results were evaluated by the computer programs and then graphics, distribution maps were prepared. Thus, degree of the quality and pollution were tried to understand. According to analysis results, because the results of streams and the ground waters are not so close to each other we can say that there is no interaction between the stream and the groundwater. As the irrigation water, the stream waters are generally in the range between C3S1 region and the ground waters are generally in the range between C3S1 and C4S2 regions according to US Salinity Laboratory Diagram. According to Wilcox diagram stream waters are generally good-permissible and ground waters are generally good permissible, doubtful to unsuitable and unsuitable type. Especially ground waters are doubtful to unsuitable and unsuitable types in dry season. It may be assumed that as the result of relative increase in concentration of salt minerals. Especially samples from groundwater wells bored close to gypsium bearing units have high hardness, electrical conductivity and salinity values. Thus for drinking and irrigation these waters are determined as unsuitable. As a result of these studies, it is understood that the groundwater especially was effected by the lithological contamination rather than the anthropogenic or the other types of pollution. Because the alluvium is covered by the silt and clay lithology it is not affected by the anthropogenic and the other foreign factors. The results of solid waste disposal site leachate indicate that this site would have a risk potential for pollution in the future. Although the parameters did not exceed the maximum dangerous values it does not mean that they will not be dangerous in the future, and this case must be taken into account.

Keywords: Çorum, environment, groundwater, hydrogeology, geology, pollution, quality, stream

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Authors: Anupam Sibal

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Apollo Quality Program(AQP) was launched across the Apollo Group of Hospitals to address the four patient safety areas; Safety during Clinical Handovers, Medication Safety, Surgical Safety and the six International Patient Safety Goals(IPSGs) of JCI. A measurable, online, quality dashboard covering 20 process and outcome parameters was devised for monthly monitoring. The expected outcomes were also defined and categorized into green, yellow and red ranges. An audit methodology was also devised to check the processes for the measurable dashboard. Documented clinical handovers were introduced for the first time at many locations for in-house patient transfer, nursing-handover, and physician-handover. Prototype forms using the SBAR format were made. Patient-identifiers, read-back for verbal orders, safety of high-alert medications, site marking and time-outs and falls risk-assessment were introduced for all hospitals irrespective of accreditation status. Measurement of Surgical-Site-Infection (SSI) for 30 days postoperatively, was done. All hospitals now tracked the time of administration of antimicrobial prophylaxis before surgery. Situations with high risk of retention of foreign body were delineated and precautionary measures instituted. Audit of medications prescribed in the discharge summaries was made uniform. Formularies, prescription-audits and other means for reduction of medication errors were implemented. There is a marked increase in the compliance to processes and patient safety outcomes. Compliance to read-back for verbal orders rose from 86.83% in April’11 to 96.95% in June’15, to policy for high alert medications from 87.83% to 98.82%, to use of measures to prevent wrong-site, wrong-patient, wrong procedure surgery from 85.75% to 97.66%, to hand-washing from 69.18% to 92.54%, to antimicrobial prophylaxis within one hour before incision from 79.43% to 93.46%. Percentage of patients excluded from SSI calculation due to lack of follow-up for the requisite time frame decreased from 21.25% to 10.25%. The average AQP scores for all Apollo Hospitals improved from 62 in April’11 to 87.7 in Jun’15.

Keywords: clinical handovers, international patient safety goals, medication safety, surgical safety

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Authors: Rachid Belhachemi, Pierre Rostan, Alexandra Rostan

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This paper develops a discrete-time option pricing model for index options. The model consists of two key ingredients. First, daily stock return innovations are driven by a continuous hidden threshold mixed skew-normal (HTSN) distribution which generates conditional non-normality that is needed to fit daily index return. The most important feature of the HTSN is the inclusion of a latent state variable with a continuum of states, unlike the traditional mixture distributions where the state variable is discrete with little number of states. The HTSN distribution belongs to the class of univariate probability distributions where parameters of the distribution capture the dependence between the variable of interest and the continuous latent state variable (the regime). The distribution has an interpretation in terms of a mixture distribution with time-varying mixing probabilities. It has been shown empirically that this distribution outperforms its main competitor, the mixed normal (MN) distribution, in terms of capturing the stylized facts known for stock returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence. Second, heteroscedasticity in the model is captured by a threeexogenous-factor GARCH model (GARCHX), where the factors are taken from the principal components analysis of various world indices and presents an application to option pricing. The factors of the GARCHX model are extracted from a matrix of world indices applying principal component analysis (PCA). The empirically determined factors are uncorrelated and represent truly different common components driving the returns. Both factors and the eight parameters inherent to the HTSN distribution aim at capturing the impact of the state of the economy on price levels since distribution parameters have economic interpretations in terms of conditional volatilities and correlations of the returns with the hidden continuous state. The PCA identifies statistically independent factors affecting the random evolution of a given pool of assets -in our paper a pool of international stock indices- and sorting them by order of relative importance. The PCA computes a historical cross asset covariance matrix and identifies principal components representing independent factors. In our paper, factors are used to calibrate the HTSN-GARCHX model and are ultimately responsible for the nature of the distribution of random variables being generated. We benchmark our model to the MN-GARCHX model following the same PCA methodology and the standard Black-Scholes model. We show that our model outperforms the benchmark in terms of RMSE in dollar losses for put and call options, which in turn outperforms the analytical Black-Scholes by capturing the stylized facts known for index returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence.

Keywords: continuous hidden threshold, factor models, GARCHX models, option pricing, risk-premium

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Authors: Olupemi E. Oludare

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This paper investigates the creative practice engaged in Juju music, a Nigerian Neo-traditional genre of the Yoruba, and its influence on the consciousness of societal praxis. It takes a musical and cultural perspective, as representational indices of how the people’s religious, social, educational, and political consciousness is expressed in their music. The study adopts the historical cum descriptive design in its methodology, tracing the historical development of Juju music, the appropriation of musical and cultural materials in its creative process, and a descriptive analysis of its musical practice, in order to substantiate the role and function of Juju music and its musicians in the political, philosophical, and social consciousness of Nigeria’s pre- and post-independence epoch. Data were collected through oral interviews of selected Juju practitioners, stakeholders, and enthusiasts. It also employed the use of discography of Juju musicians. This paper discusses musical factors such as form, melodic and rhythmic patterns, and thematic materials, while highlighting cultural factors such as linguistic elements, with textual analysis, as a conscious avenue of expression. The study revealed that Juju musicians composed their music by engaging both indigenous and foreign musical materials, as a means of creative practice for musical entertainment, while expressing the people’s consciousness of their beliefs, values, and socio-political issues, hence the music functioning as a vehicle for social commentaries. The popularization and commercialization of Juju music brought the musicians national and international accolades, subsequently attracting contributions from contemporary musicians, which led to innovations of new brands, such as ‘Afro-Juju’, ‘Gospel-Juju’, ‘Hip-Hop-Juju’, etc., albeit retaining the basic musical elements of its progenitor, as a conscious music for socio-cultural functions. This study concludes that Juju music and its musicians remain germane in the musical scene of the nation’s social, educational, and political terrain, especially in the current Nigerian democratic climate. This paper recommends the promotion and patronage of the Juju music in its original form, to prevent its decline in current times, since it serves as an enrichment of national identity both in Nigeria, and Internationally.

Keywords: appropriation, consciousness, creative practice, national identity, neo-traditional

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