Search results for: financial flexibility

Authors: Syed Kamran Sami, Saqib Siddiqui

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In recent times, flexible supercapacitors retaining high electrochemical performance and steadiness along with mechanical endurance has developed as a spring of attraction due to the exponential progress and innovations in energy storage devices. To meet the rampant increasing demand of energy storage device with the small form factor, a unique, low cost and high-performance supercapacitor with considerably higher capacitance and mechanical robustness is required to recognize their real-life applications. Here in this report, synthesis route of electrode materials with low rigidity and high charge storage performance is reported using 1D-1D hybrid structure of zinc oxide (ZnO) nanorods, and conductive polymer smeared polyvinylidene fluoride–trifluoroethylene (P(VDF–TrFE)) electrospun nanofibers. The ZnO nanorods were uniformly grown on poly (3,4-ethylenedioxythiophene) polystyrene sulfonate (PEDOT: PSS) coated P(VDF-TrFE) nanofibers using hydrothermal growth to manufacture light weight, permeable electrodes for supercapacitor. The PEDOT: PSS coated P(VDF-TrFE) porous web of nanofibers act as framework with high surface area. The incorporation of ZnO nanorods further boost the specific capacitance by 59%. The symmetric device using the fabricated 1D-1D hybrid electrodes reveals fairly high areal capacitance of 1.22mF/cm² at a current density of 0.1 mA/cm² with a power density of more than 1600 W/Kg. Moreover, the fabricated electrodes show exceptional flexibility and high endurance with 90% and 76% specific capacitance retention after 1000 and 5000 cycles respectively signifying the astonishing mechanical durability and long-term stability. All the properties exhibited by the fabricated electrode make it convenient for making flexible energy storage devices with the low form factor.

Keywords: ZnO nanorods, electrospinning, mechanical endurance, flexible supercapacitor

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Authors: Ozgu Hafizoglu

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An analogy is an essential tool of human cognition that enables connecting diffuse and diverse systems with physical, behavioral, principal relations that are essential to learning, discovery, and innovation. The Cognitive Model of Analogy (CMA) leads and creates patterns of pathways to transfer information within and between domains in science, just as happens in the brain. The connectome of the brain shows how the brain operates with mental leaps between domains and mental hops within domains and the way how analogical reasoning mechanism operates. This paper demonstrates the CMA as an evolutionary approach to science, technology, and life. The model puts forward the challenges of deep uncertainty about the future, emphasizing the need for flexibility of the system in order to enable reasoning methodology to adapt to changing conditions in the new era, especially post-pandemic. In this paper, we will reveal how to draw an analogy to scientific research to discover new systems that reveal the fractal schema of analogical reasoning within and between the systems like within and between the brain regions. Distinct phases of the problem-solving processes are divided thusly: stimulus, encoding, mapping, inference, and response. Based on the brain research so far, the system is revealed to be relevant to brain activation considering each of these phases with an emphasis on achieving a better visualization of the brain’s mechanism in macro context; brain and spinal cord, and micro context: glia and neurons, relative to matching conditions of analogical reasoning and relational information, encoding, mapping, inference and response processes, and verification of perceptual responses in four-term analogical reasoning. Finally, we will relate all these terminologies with these mental leaps, mental maps, mental hops, and mental loops to make the mental model of CMA clear.

Keywords: analogy, analogical reasoning, brain connectome, cognitive model, neurons and glia, mental leaps, mental hops, mental loops

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Authors: Mahmoud Y. M. Ahmed, Ahmed Konsowa, Mostafa Sami, Ayman Mosallam

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Fukushima nuclear accident (Japan 2011) has drawn attention to the issue of gas leakage from hazardous facilities through building boundaries. The rapidly increasing investments in nuclear stations have made the ability to predict, and prevent, gas leakage a rather crucial issue both environmentally and economically. Leakage monitoring for underground facilities is rather complicated due to the combination of Reinforced Concrete Shear Wall (RCSW) and soil. In the framework of a recent research conducted by the authors, the gas insulation capabilities of RCSW-soil combination have been investigated via a lab-scale experimental work. Despite their accuracy, experimental investigations are expensive, time-consuming, hazardous, and lack for flexibility. Numerically simulating the gas leakage as a fluid flow problem based on Computational Fluid Dynamics (CFD) modeling approach can provide a potential alternative. This novel implementation of CFD approach is the topic of the present paper. The paper discusses the aspects of modeling the gas flow through porous media that resemble the RCSW both isolated and combined with the normal soil. A commercial CFD package is utilized in simulating this fluid flow problem. A fixed RCSW layer thickness is proposed, air is taken as the leaking gas, whereas the soil layer is represented as clean sand with variable properties. The variable sand properties include sand layer thickness, fine fraction ratio, and moisture content. The CFD simulation results almost demonstrate what has been found experimentally. A soil layer attached next to a cracked reinforced concrete section plays a significant role in reducing the gas leakage from that cracked section. This role is found to be strongly dependent on the soil specifications.

Keywords: RCSW, gas leakage, Pressure Decay Method, hazardous underground facilities, CFD

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Authors: Violina Angelova, Huu Q. Lee

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A field study was conducted to evaluate the efficacy of Vetiver (Chrysopogon zizanioides L.) for phytoremediation of contaminated soils. The experiment was performed on agricultural fields contaminated by the Non-Ferrous-Metal Works near Plovdiv, Bulgaria. The experimental plots were situated at different distances (0.5, 3.5, and 15 km) from the source of pollution. The concentrations of Pb, Zn, and Cd in vetiver (roots and leaves) were determined. Correlations between the content of the heavy metal mobile forms extracted with DTPA and their content in the roots and leaves of the Vetiver have been established. The Vetiver is tolerant to heavy metals and can be grown on soils contaminated with heavy metals. Plants are characterized by low ability to absorb and accumulate Pb, Cd, and Zn and have no signs of toxicity (chlorosis and necrosis) at 36.8 mg/kg Cd, 1158.8 mg/kg Pb and 1526.2 mg/kg Zn in the soil. Vetiver plants can be classified as Pb, Cd and Zn excluder, therefore, this plant has the suitable potential for the phytostabilization of heavy metal contaminated soils. Acknowledgements: The authors gratefully acknowledge the financial support by the Bulgarian National Science Fund (Project DFNI 04/9).

Keywords: contaminated soils, heavy metals, phytoremediation, vetiver

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Authors: S. Mondal, L. M. Olsen-Kettle, L. Gross

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Fracture propagation and damage evolution are extremely important for many industrial applications including mining industry, composite materials, earthquake simulations, hydraulic fracturing. The influence of pre-existing flaws and rock heterogeneity on the processes and mechanisms of rock fracture has important ramifications in many mining and reservoir engineering applications. We simulate the damage evolution and fracture propagation in an isotropic sandstone specimen containing a pre-existing 3-D surface flaw in different configurations under uniaxial compression. We apply a damage model based on the unified strength theory and solve the solid deformation and damage evolution equations using the Finite Element Method (FEM) with tetrahedron elements on unstructured meshes through the simulation software, eScript. Unstructured meshes provide higher geometrical flexibility and allow a more accurate way to model the varying flaw depth, angle, and length through locally adapted FEM meshes. The heterogeneity of rock is considered by initializing material properties using a Weibull distribution sampled over a cubic grid. In our model, we introduce a length scale related to the rock heterogeneity which is independent of the mesh size. We investigate the effect of parameters including the heterogeneity of the elastic moduli and geometry of the single flaw in the stress strain response. The generation of three typical surface cracking patterns, called wing cracks, anti-wing cracks and far-field cracks were identified, and these depend on the geometry of the pre-existing surface flaw. This model results help to advance our understanding of fracture and damage growth in heterogeneous rock with the aim to develop fracture simulators for different industry applications.

Keywords: finite element method, heterogeneity, isotropic damage, uniaxial compression

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Authors: Thapelo Jacob Moloi

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This paper purports to present the findings in relation to the competencies of commercial grain farmers using a classic grounded theory method. A total of about eighteen semi-structured interviews with farmers, former farmers, farm workers, and agriculture experts were conducted. Findings explored competencies in the form of skills, knowledge and personal attributes that commercial grain farmers possess. Skills range from production skills, financial management skill, time management skill, human resource management skill, planning skill to mechanical skill. Knowledge ranges from soil preparation, locality, and technology to weather knowledge. The personal attributes that contribute to shaping a commercial grain farmer are so many, but for this study, seven stood out as a passion, work dedication, self-efficacy, humbleness, intelligence, emotional stability, and patience.

Keywords: grain farming, farming competencies, classic grounded theory, competency model

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Authors: Koffi Sodokin

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Financing microstructures are increasingly seen as a means of financial inclusion and improving overall well-being in developing countries. In practice, digital transformation in finance can accelerate the optimal functioning of financing microstructures, such as access by households to microfinance and microinsurance. Large households' access to finance can lead to a reduction in income inequality and an overall improvement in well-being. This paper explores the impact of access to digital finance and financing microstructures on household well-being and the reduction of income inequality. To this end, we use the propensity score matching, the double difference, and the smooth instrumental quantile regression as estimation methods with two periods of survey data. The paper uses the FinScope consumer data (2016) and the Harmonized Living Standards Measurement Study (2018) from Togo in a comparative perspective. The results indicate that access to digital finance, as a cultural game changer, and to financing microstructures improves overall household well-being and contributes significantly to reducing income inequality.

Keywords: financing microstructure, microinsurance, microfinance, digital finance, well-being, income inequality

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Authors: Luis Rodrigo Valencia Pérez, Juan Manuel Peña Aguilar, Adelina Morita Alexander, Alberto Lamadrid Alvarez, Héctor Fernando Valencia Pérez

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Financial education is among the areas of opportunity in the Spanish-speaking from an early age to high school, through mobile devices such as cell phones and tablets using ludic and fun applications like interactive games, children can learn money management and investment through time, thereby fostering the habit of saving and/or sound management of cash and family business resources, having interaction with an uncontrolled environment such as the involvement of other players in the external decisions of the environment in which the game is play. The application proposed in Phase 1 (design and development) was designed in multi-user environments, under methodologies of hybrid programming for any platform on the market and designed under CMMI standards that allow for quality production over time, following up on these improvements counting with continuous user feedback and usage statistics.

Keywords: mobile educational games, ludic games, children, multiuser, design and software development

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Authors: Harjinder Kaur

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GST was implemented by government with the expectation to reform the taxation system of India. So this study basically seeks to understand the consumers’ awareness, knowledge and perception about the implementation of GST. To conduct this study, 100 respondents of all demographic profile were randomly selected from the Punjab region of India. To investigate the relationship between demographic profile and level of awareness and knowledge about GST, one way ANOVA test was used and it is found that there is a significant relationship between gender, age and qualification and level of awareness and knowledge. Furthermore, due to the lack of information on GST, the respondents had a high negative perception. The study also reveals that the implementation of GST has resulted in higher prices for goods and services and thus this tax may cause burden to people. Also after implementation of GST financial issues such as inflation, rising cost of living, economic instability have impacted many Indian consumers in terms of their spending. But at the same time it is also perceived that GST is designed to remove the burden of many indirect taxes and aims to develop the more efficient tax system which increases the revenue of country.

Keywords: goods and service tax, consumers awareness, knowledge, perception

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Authors: Brunno Vasques

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Due to the non-toxic nature and high performance in terms of vacuum specific impulse and density specific impulse, the combination of liquid oxygen and liquid methane have been identified as a promising option for future space vehicle systems. Applications requiring throttling capability include specific missions such as rendezvous, planetary landing and de-orbit as well as weapon systems. One key challenge in throttling liquid rocket engines is maintaining an adequate pressure drop across the injection elements, which is necessary to provide good propellant atomization and mixing as well as system stability. The potential scalability of pintle injectors, their great suitability to throttling and inherent combustion stability characteristics led to investigations using a variety of propellant combinations, including liquid oxygen and hydrogen and fluorine-oxygen and methane. Presented here are the preliminary performance and heat transfer information obtained during hot-fire testing of a pintle injector running on liquid oxygen and liquid methane propellants. The specific injector design selected for this purpose is a multi-configuration building block version with replaceable injection elements, providing flexibility to accommodate hardware modifications with minimum difficulty. On the basis of single point runs and the use of a copper/nickel segmented calorimetric combustion chamber and associated transient temperature measurement, the characteristic velocity efficiency, injector footprint and heat fluxes could be established for the first proposed pintle configuration as a function of injection velocity- and momentum-ratios. A description of the test-bench is presented as well as a discussion of irregularities encountered during testing, such as excessive heat flux into the pintle tip resulting from certain operating conditions.

Keywords: green propellants, hot-fire performance, rocket engine throttling, pintle injector

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Authors: Martin Georgiev, Milena Nanova, Damyan Damov

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Architects, engineers, and developers need to analyse and implement a wide spectrum of data in different formats, if they want to produce viable residential developments. Usually, this data comes from a number of different sources and is not well structured. The main objective of this research project is to provide parametric tools working with real geodesic data that can generate residential solutions. Various codes, regulations and design constraints are described by variables and prioritized. In this way, we establish a common workflow for architects, geodesists, and other professionals involved in the building and investment process. This collaborative medium ensures that the generated design variants conform to various requirements, contributing to a more streamlined and informed decision-making process. The quantification of distinctive characteristics inherent to typical residential structures allows a systematic evaluation of the generated variants, focusing on factors crucial to designers, such as daylight simulation, circulation analysis, space utilization, view orientation, etc. Integrating real geodesic data offers a holistic view of the built environment, enhancing the accuracy and relevance of the design solutions. The use of generative algorithms and parametric models offers high productivity and flexibility of the design variants. It can be implemented in more conventional CAD and BIM workflow. Experts from different specialties can join their efforts, sharing a common digital workspace. In conclusion, our research demonstrates that a generative parametric approach based on real geodesic data and collaborative decision-making could be introduced in the early phases of the design process. This gives the designers powerful tools to explore diverse design possibilities, significantly improving the qualities of the building investment during its entire lifecycle.

Keywords: architectural design, residential buildings, urban development, geodesic data, generative design, parametric models, workflow optimization

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Authors: K. Verlinden

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Being the first family member to study is challenging due to the lack of intergenerational support, financial challenges, etc. The often very deficit-oriented view of these first-generation students (FGS) is challenged by assuming that precisely these students have a high degree of resilience, which will be demonstrated by comparing individual resilience factors. First-generation students are disproportionately often found in courses of social work. Correspondingly, this study compares two samples from social work (FGS vs. non-FGS) with regard to certain determinants of resilience, such as grit, social support, self-efficacy, sense of coherence, and emotional intelligence. An online questionnaire was generated from valid psychological instruments and handed out to the sample. The results portray a double mediation model in which gender and being an FGS associate with lower levels of individual resources, which in then associate with social support. This tiered model supports the possibility that individual resources facilitate the recruitment and use of social support and perhaps other related social resources to better cope with academic challenges.

Keywords: resilience, first generation students, grit, self-efficacy

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Authors: Salima Smiti, Ines Gasmi, Makram Soui

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Credit risk is the most important issue for financial institutions. Its assessment becomes an important task used to predict defaulter customers and classify customers as good or bad payers. To this objective, numerous techniques have been applied for credit risk assessment. However, to our knowledge, several evaluation techniques are black-box models such as neural networks, SVM, etc. They generate applicants’ classes without any explanation. In this paper, we propose to assess credit risk using rules classification method. Our output is a set of rules which describe and explain the decision. To this end, we will compare seven classification algorithms (JRip, Decision Table, OneR, ZeroR, Fuzzy Rule, PART and Genetic programming (GP)) where the goal is to find the best rules satisfying many criteria: accuracy, sensitivity, and specificity. The obtained results confirm the efficiency of the GP algorithm for German and Australian datasets compared to other rule-based techniques to predict the credit risk.

Keywords: credit risk assessment, classification algorithms, data mining, rule extraction

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Authors: Jalindar R. Patil, Harish P. Gayakwad

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The increased economic growth across the globe as well as urbanization in developing countries have led into extensive construction activities that generate large amounts of wastes. Material wastage in construction projects resulted into huge financial setbacks to builders and contractors. In addition to this, it may also cause significant effects over aesthetics, health, and the general environment. However in many cities across the globe where construction wastes material management is still a problem. In this paper, the discussion is all about the method for the management of waste construction materials. The objectives of this seminar are to identify the significant source of construction waste globally, to improve the performance of by extracting the major barriers construction waste management and to determine the cost impact on the construction project. These wastes needs to be managed as well as their impacts needs to be ascertained to pave way for their proper management. The seminar includes the details of construction waste management with the reference to construction project. The application of construction waste management in the civil engineering projects is to describe the reduction in the construction wastes.

Keywords: civil engineering, construction materials, waste management, construction activities

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Authors: Gudelj Petra, Franic Ema, Kolega Maja

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Mental health is crucial for personal, social, and socio-economic development, becoming an increasingly relevant topic, especially in the post-global pandemic era. One vulnerable demographic comprises students who, during the pandemic, faced challenges such as adapting to new educational methods, societal or residential changes, heightened stress, responsibilities, and entering the job market. These life challenges proved insurmountable for some individuals during this phase. This research aimed to examine students' attitudes towards individuals seeking psychological help. By gaining a better understanding of young people's perceptions of seeking psychological assistance, a clearer insight into how to make psychological support more accessible and acceptable can be achieved. A questionnaire was completed by 210 students from various disciplines at the University of Zagreb. At the same time, the majority of students express a positive attitude towards seeking psychological help, a very small percentage reported having sought it. One of the most common obstacles to seeking appropriate help was a lack of financial means, with the most significant motivators being the positive experiences of those who sought help and an affordable cost.

Keywords: mental health, students, psychological support, attitudes

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Authors: Huie-Wen Lin

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This study integrated various teaching factors -based on the idea of a flipped classroom- in a financial management course. The study’s aim was to establish an effective teaching implementation strategy and evaluation mechanism with respect to learning outcomes, which can serve as a reference for the future modification of teaching methods. This study implemented a teaching method in five stages and estimated the learning efficiencies of 22 students (in the teaching scenario and over two semesters). Subsequently, data envelopment analysis (DEA) was used to compare, for each student, between the learning efficiencies before and after participation in the flipped classroom -in the first and second semesters, respectively- to identify the crucial external factors influencing learning efficiency. According to the results, the average overall student learning efficiency increased from 0.901 in the first semester to 0.967 in the second semester, which demonstrate that the flipped classroom approach can improve teaching effectiveness and learning outcomes. The results also revealed a difference in learning efficiency between male and female students.

Keywords: data envelopment analysis, flipped classroom, learning outcome, teaching and learning

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Authors: Marko Kolakovic, Mihaela Mikic, Martina Taborin

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Women entrepreneurship is often regarded as the unused economical potential in many countries, including Republic of Croatia. Although women represent a majority in the population, they are still a minority in the field of entrepreneurship and face many challenges in fulfilling their entrepreneurship potential. The reasons are often hided in historical distorted perceptions about value, credibility, competitiveness, responsibility and knowledge which women have, or can have. This is significant for at least two reasons. First, in terms of global economic crisis, the economy needs more quality, more skilled and educated people willing to face entrepreneurial challenges and create new jobs, new opportunities and higher living standards. Second, in the entrepreneurial activity, women finally have a chance to highlight their own abilities, such as knowledge, relentless work, organizational skills, communication and negotiation skills, responsibility, flexibility, etc., in order to insure their economic independence, for a better social position, and to increase confidence and faith in their own abilities. This paper empirically analyses characteristics of women entrepreneurship in Croatia and conducted policies for it improvement. An empirical research was conducted with the goal of discovering real life experiences and attitudes of Croatian women entrepreneurs. Results show that Croatian women entrepreneurs are usually highly educated, have previous work experience and operate in service sector, due to lower need for start-up capital. The biggest obstacle on their entrepreneurial path represents government bureaucracy. Although the number of women entrepreneurs is rising today and the gap between male and women entrepreneurs in Croatia, as well as women entrepreneurship levels lower than the European average, we believe that there is still a long way to reach potential and successful women entrepreneurship development. Research showed that by breaking down the barriers as access to finance, education investments, knowledge, skills and confidence development, women will be able to accomplish more significant and more efficient entrepreneurial outcome.

Keywords: Croatia, policy, SMEs, women entrepreneurial strategy, women entrepreneurship

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Authors: Hycham Aboutaleb, Bruno Monsuez

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Current systems' complexity has reached a degree that requires addressing conception and design issues while taking into account environmental, operational, social, legal, and financial aspects. Therefore, one of the main challenges is the way complex systems are specified and designed. The exponentially growing effort, cost, and time investment of complex systems in modeling phase emphasize the need for a paradigm, a framework, and an environment to handle the system model complexity. For that, it is necessary to understand the expectations of the human user of the model and his limits. This paper presents a generic framework for designing complex systems, highlights the requirements a system model needs to fulfill to meet human user expectations, and suggests a graph-based formalism for modeling complex systems. Finally, a set of transformations are defined to handle the model complexity.

Keywords: higraph-based, formalism, system engineering paradigm, modeling requirements, graph-based transformations

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Authors: Venkateswar Pujari

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This study tries to investigate the complex interplay between control, awareness, and attention in human cognitive processes. The fundamental elements of cognitive functioning that play a significant role in influencing perception, decision-making, and behavior are attention, awareness, and control. Understanding how they interact can help us better understand how our minds work and may even increase our understanding of cognitive science and its therapeutic applications. The study uses an empirical methodology to examine the relationships between attention, awareness, and control by integrating different experimental paradigms and neuropsychological tests. To ensure the generalizability of findings, a wide sample of participants is chosen, including people with various cognitive profiles and ages. The study is structured into four primary parts, each of which focuses on one component of how attention, awareness, and control interact: 1. Evaluation of Attentional Capacity and Selectivity: In this stage, participants complete established attention tests, including the Stroop task and visual search tasks. 2. Evaluation of Awareness Degrees: In the second stage, participants' degrees of conscious and unconscious awareness are assessed using perceptual awareness tasks such as masked priming and binocular rivalry tasks. 3. Investigation of Cognitive Control Mechanisms: In the third phase, reaction inhibition, cognitive flexibility, and working memory capacity are investigated using exercises like the Wisconsin Card Sorting Test and the Go/No-Go paradigm. 4. Results Integration and Analysis: Data from all phases are integrated and analyzed in the final phase. To investigate potential links and prediction correlations between attention, awareness, and control, correlational and regression analyses are carried out. The study's conclusions shed light on the intricate relationships that exist between control, awareness, and attention throughout cognitive function. The findings may have consequences for cognitive psychology, neuroscience, and clinical psychology by providing new understandings of cognitive dysfunctions linked to deficiencies in attention, awareness, and control systems.

Keywords: attention, awareness, control, cognitive functioning, neuropsychological assessment

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Authors: Dineshsingh Thakur, S. Nagesh, J. Basha

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A lightweight High Speed Flexible Coupling (HSFC) is used to connect the Engine Gear Box (EGB) with an Accessory Gear Box (AGB) of the combat aircraft. The HSFC transmits the power at high speeds ranging from 10000 to 18000 rpm from the EGB to AGB. The HSFC is also accommodates larger misalignments resulting from thermal expansion of the aircraft engine and mounting arrangement. The HSFC has the series of metallic contoured annular thin cross-sectioned flexible plates to accommodate the misalignments. The flexible plates are accommodating the misalignment by the elastic material flexure. As the HSFC operates at higher speed, the flexural and axial resonance frequencies are to be kept away from the operating speed and proper prediction is required to prevent failure in the transmission line of a single engine fighter aircraft. To study the influence of flexible plate’s contour on the lateral critical speed (LCS) of HSFC, a mathematical model of HSFC as a elven rotor system is developed. The flexible plate being the bending member of the system, its bending stiffness which results from the contoured governs the LCS. Using transfer matrix method, Influence of various flexible plate contours on critical speed is analyzed. In the above analysis, the support bearing flexibility on critical speed prediction is also considered. Based on the study, a model is built with the optimum contour of flexible plate, for validation by experimental modal analysis. A good correlation between the theoretical prediction and model behavior is observed. From the study, it is found that the flexible plate’s contour is playing vital role in modification of system’s dynamic behavior and the present model can be extended for the development of similar type of flexible couplings for its computational simplicity and reliability.

Keywords: flexible rotor, critical speed, experimental modal analysis, high speed flexible coupling (HSFC), misalignment

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Authors: Shih-Kuei Lin

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

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

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Authors: Fiona Mwaniki

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Climate change is considered a serious threat to sustainable development globally and as one of the greatest ecological, economic and social challenges of our time. The global demand for food is projected to increase by 60% by 2050. Small holder farmers who are vulnerable to the adverse effects of climate change are expected to contribute to this projected demand. Effective climate change education and communication is therefore required for smallholder and subsistence farmers’ in order to build communities that are more climate change aware, prepared and resilient. In Kenya radio is the most important and dominant mass communication tool for agricultural extension. This study investigated the potential role of radio in influencing farmers’ understanding and use of climate change information. The broad aims of this study were three-fold. Firstly, to identify Kenyan farmers’ perceptions and responses to the impacts of climate change. Secondly, to develop radio programs that communicate climate change information to Kenyan farmers and thirdly, to evaluate the impact of information disseminated through radio on farmers’ understanding and responses to climate change mitigation and adaptation. This study was conducted within the farming community of Kilifi County, located along the Kenyan coast. Education and communication about climate change was undertaken using radio to make available information understandable to different social and cultural groups. A mixed methods pre-and post-intervention design that provided the opportunity for triangulating results from both quantitative and qualitative data was used. Quantitative and qualitative data was collected simultaneously, where quantitative data was collected through semi structured surveys with 421 farmers’ and qualitative data was derived from 11 focus group interviews, six interviews with key informants and nine climate change experts. The climate change knowledge gaps identified in the initial quantitative and qualitative data were used in developing radio programs. Final quantitative and qualitative data collection and analysis enabled an assessment of the impact of climate change messages aired through radio on the farming community in Kilifi County. Results of this study indicate that 32% of the farmers’ listened to the radio programs and 26% implemented technologies aired on the programs that would help them adapt to climate change. The most adopted technologies were planting drought tolerant crops including indigenous crop varieties, planting trees, water harvesting and use of manure. The proportion of farmers who indicated they knew “a fair amount” about climate change increased significantly (Z= -5.1977, p < 0.001) from 33% (at the pre intervention phase of this study) to 64% (post intervention). However, 68% of the farmers felt they needed “a lot more” information on agriculture interventions (43%), access to financial resources (21%) and the effects of climate change (15%). The challenges farmers’ faced when adopting the interventions included lack of access to financial resources (18%), high cost of adaptation measures (17%), and poor access to water (10%). This study concludes that radio effectively complements other agricultural extension methods and has the potential to engage farmers’ on climate change issues and motivate them to take action.

Keywords: climate change, climate change intervention, farmers, radio

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Authors: Sibel Karacaoglu, Fatma Ç. Kayapinar

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The aim of the study is to investigate the effect of the core training program on physical fitness characteristics and body composition in male volleyball players. 26 male university volleyball team players aged between 19 to 24 years who had no health problems and injury participated in the study. Subjects were divided into training (TG) and control groups (CG) as randomly. Data from twenty-one players who completed all training sessions were used for statistical analysis (TG,n=11; CG,n=10). A core training program was applied to the training group three days a week for 10 weeks. On the other hand, the control group did not receive any training. Before and after the 10-week training program, pre- and post-testing comprised of body composition measurements (weight, BMI, bioelectrical impedance analysis) and physical fitness measurements including flexibility (sit and reach test), muscle strength (back, leg and grip strength by dynamometer), muscle endurance (sit-ups and push-ups tests), power (one-legged jump and vertical jump tests), speed (20m sprint, 30m sprint) and balance tests (one-legged standing test) were performed. Changes of pre- and post- test values of the groups were determined by using dependent t test. According to the statistical analysis of data, no significant difference was found in terms of body composition in the both groups for pre- and post- test values. In the training group, all physical fitness measurements improved significantly after core training program (p<0.05) except 30m speed and handgrip strength (p>0.05). On the hand, only 20m speed test values improved after post-test period (p<0.05), but the other physical fitness tests values did not differ (p>0.05) between pre- and post- test measurement in the control group. The results of the study suggest that the core training program has positive effect on physical fitness characteristics in male volleyball players.

Keywords: body composition, core training, physical fitness, volleyball

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Authors: Muhammad Sheraz, Vasile Preda, Silvia Dedu

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Concepts of econophysics are usually used to solve problems related to uncertainty and nonlinear dynamics. In the theory of option pricing the risk neutral probabilities play very important role. The application of entropy in finance can be regarded as the extension of both information entropy and the probability entropy. It can be an important tool in various financial methods such as measure of risk, portfolio selection, option pricing and asset pricing. Gulko applied Entropy Pricing Theory (EPT) for pricing stock options and introduced an alternative framework of Black-Scholes model for pricing European stock option. In this article, we present solutions to maximum entropy problems based on Tsallis, Weighted-Tsallis, Kaniadakis, Weighted-Kaniadakies entropies, to obtain risk-neutral densities. We have also obtained the value of European call and put in this framework.

Keywords: option pricing, Black-Scholes model, Tsallis entropy, Kaniadakis entropy, weighted entropy, risk-neutral density

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Authors: Kiran Baldavoo, Mishelle Doorasamy

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Universities have a role to play in the preservation of the environment, and the study attempted to evaluate the environmental management accounting (EMA) processes at UKZN. UKZN, a South African university, generates the same direct and indirect environmental impacts as the higher education sector worldwide. This is significant within the context of the South African environment which is constantly plagued by having to effectively manage the already scarce resources of water and energy, evident through the imposition of water and energy restrictions over the recent years. The study’s aim is to increase awareness of having a structured approach to environmental management in order to achieve the strategic environmental goals of the university. The research studied the experiences of key managers within UKZN, with the purpose of exploring the potential factors which influence the decision to adopt and apply EMA within the higher education sector. The study comprised two objectives, namely understanding the current state of accounting practices for managing major environmental costs and identifying factors influencing EMA adoption within the university. The study adopted a case study approach, comprising semi-structured interviews of key personnel involved in Management Accounting, Environmental Management, and Academic Schools within the university. Content analysis was performed on the transcribed interview data. A Theoretical Framework derived from literature was adopted to guide data collection and focus the study. Contingency and Institutional theory was the resultant basis of the derived framework. The findings of the first objective revealed that there was a distinct lack of EMA utilization within the university. There was no distinct policy on EMA, resulting in minimal environmental cost information being brought to the attention of senior management. The university embraced the principles of environmental sustainability; however, efforts to improve internal environmental accountability primarily from an accounting perspective was absent. The findings of the second objective revealed that five key barriers contributed to the lack of EMA utilization within the university. The barriers being attitudinal, informational, institutional, technological, and lack of incentives (financial). The results and findings of this study supported the use and application of EMA within the higher education sector. Participants concurred that EMA was underutilized and if implemented, would realize significant benefits for both the university and environment. Environmental management accounting is being widely acknowledged as a key management tool that can facilitate improved financial and environmental performance via the concept of enhanced environmental accountability. Historically research has been concentrated primarily on the manufacturing industry, due to it generating the greatest proportion of environmental impacts. Service industries are also an integral component of environmental management as they contribute significant environmental impacts, both direct and indirect. Educational institutions such as universities form part of the service sector and directly impact on the environment through the consumption of paper, energy, and water and solid waste generated, with the associated demands.

Keywords: environmental management accounting, environmental impacts, higher education, Southern Africa

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Authors: Thomas Heffernan, Nick Neave, Colin Hamilton, Gill Case

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Hoarding is the acquisition of and failure to discard possessions, leading to excessive clutter and significant psychological/emotional distress. From a cognitive-behavioural approach, excessive hoarding arises from information-processing deficits, as well as from problems with emotional attachment to possessions and beliefs about the nature of possessions. In terms of information processing, hoarders have shown deficits in executive functions, including working memory, planning, inhibitory control, and cognitive flexibility. However, this previous research is often confounded by co-morbid factors such as anxiety, depression, or obsessive-compulsive disorder. The current study adopted a cognitive-behavioural approach, specifically assessing executive deficits and working memory in a non-clinical sample of hoarders, compared with non-hoarders. In this study, a non-clinical sample of 40 hoarders and 73 non-hoarders (defined by The Savings Inventory-Revised) completed the Adult Executive Functioning Inventory, which measures working memory and inhibition, Dysexecutive Questionnaire-Revised, which measures general executive function and the Hospital Anxiety and Depression Scale, which measures mood. The participant sample was made up of unpaid young adult volunteers who were undergraduate students and who completed the questionnaires on a university campus. The results revealed that, after observing no differences between hoarders and non-hoarders on age, sex, and mood, hoarders reported significantly more deficits in inhibitory control and general executive function when compared with non-hoarders. There was no between-group difference on general working memory. This suggests that non-clinical hoarders have a specific difficulty with inhibition-control, which enables you to resist repeated, unwanted urges. This might explain the hoarder’s inability to resist urges to buy and keep items that are no longer of any practical use. These deficits may be underpinned by general executive function deficiencies.

Keywords: hoarding, memory, executive, deficits

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Authors: Denis Ushakov

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Fast growing international migration as a factor of labor globalization now is one of the most important trends of world economy and determinant of social-political transformations. Study of fundamental economical reasons for international migration is relevant due to their prognostic, predictable and normative potential, which can be used in conditions of global economic non-stability. This paper analyzes role of natural-resources, financial and labor factors in economic growth of the modern states; studies relationships between stimulating role of natural resources, finance and labor with levels of modern countries’ economy development. Based on achieved results, findings about fundamental reasons of international migration; transformation of labor factor’s role in providing an economical progress of the states; efficiency of positive impact of manufacturing factors (domestic and attracted from international markets) were offered.

Keywords: international migration, migrant, labor productivity, economy efficiency of migration, migration policy

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Authors: Paivi Hietanen

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At family with children, divorce is a risk for a child to lose the relationship to the parent with whom the child doesn't live. A child has the right to the get care from both parents after the divorce. Even though your ex-spouse isn’t longer your companion, to the child he or she is still unique as a parent and parents must cooperate and support their child in the new family situation. To divorcee, it's necessary to understand the difference between the intimate relationship that ends and parenthood that continues. Cooperative parenting takes a lot of effort and flexibility for the parents to make joint custody work well. It is vital that parents get help to understand the situation from child points of view. When parent is facing divorce, and all the emotions that it brings along, can the child easily be forgotten. To help children, we must help parents to understand, that a relationship can end, parenthood cannot. As professionals, we should help the parents to see the significance and value of both parents to the child and try to support and protect parenthood-relationship between parents. The Federation of Mother and Child Homes and Shelters have developed group models to work with parents during or after divorce. These support groups are led by professionals, but peer support is also used. These support groups have been held over 10 years and there are found from 20 different cities in Finland. Eroneuvo event (divorce advice) service is intended for parents who are considering or have already divorced. The Vanhemman neuvo (parents' council) is a peer support group that helps parents with post-divorce parenting issues. From these groups, parents receive information and peer support for matters related to divorcing and how to support the child and do co-parenting. At the groups and in given information for divorced parents, is used a method called the 'Irreversible triangle'. It's a way to picture the intimate relationship and parenthood after the divorce and what is the difference between these two things. 'Irreversible triangle' is used to help parents and professionals to understand, what happens if a child loses the relationship to the other parent or if parents co-parenting doesn't work well. From the largely collected feedback, group members tell that they feel themselves relieved after taking part of the group. Parents also experience that talking with other parents helps to survive. Group members learn to co-operate with the other parent, and they'll also learn to see the best interest of the child after the divorce. Parents would highly recommend these groups to other parents.

Keywords: child's right, co-parenting, parenthood after the divorce, peer support

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Authors: A. Camões, M. Ferreira Dias, M. Amorim

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In recent years, the social economy is increasingly seen as a viable means to address social problems. Social enterprises, as well as public projects and initiatives targeted to meet social purposes, offer organizational models that assume heterogeneity, flexibility and adaptability to the ‘real world and real problems’. Despite the growing popularity of social initiatives, decision makers still face a paucity in what concerns the available models and tools to adequately assess its sustainability, and its impacts, notably the nature of its contribution to economic growth. This study was carried out at the local level, by analyzing the social impact initiatives and projects promoted by the Municipality of Albergaria-a-Velha (Câmara Municipal de Albergaria-a-Velha -CMA), a municipality of 25,000 inhabitants in the central region of Portugal. This work focuses on the challenges related to the qualifications and employability of citizens, which stands out as one of the key concerns in the Portuguese economy, particularly expressive in the context of small-scale cities and inland territories. The study offers a characterization of the Municipality, its socio-economic structure and challenges, followed by an exploratory analysis of multiple sourced data, collected from the CMA's documental sources as well as from privileged informants. The purpose is to conduct detailed analysis of the CMA's social projects, aimed at characterizing its potential impact for the model of qualifications and employability of the citizens of the Municipality. The study encompasses a discussion of the socio-economic profile of the municipality, notably its asymmetries, the analysis of the social projects and initiatives, as well as of data derived from inquiry actors involved in the implementation of the social projects and its beneficiaries. Finally, the results obtained with the Better Life Index will be included. This study makes it possible to ascertain if what is implicit in the literature goes to the encounter of what one experiences in reality.

Keywords: measurement, municipalities, social economy, social impact

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Authors: Stephanie M. De Oliveira

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For a long time, migrations are characterized as a difficult problem to solve. Various phenomena throughout human history caused personnel migrations, whether by the free will of migrants or not. Nowadays, governments that seek to give these people protection and dignity, either to asylum or to build a new life in a different country, make refugee protection. At present, a large amount of people, have been crossing their country's borders by land, air or sea, becoming refugees and seeking a new life away from fear, threat or violence they suffered in their country of origin. It is known that some countries have already instituted rights and rules for refugees who wish to become citizens in the country to which they immigrated, even though this is not what happens in most cases. The article will be based on research made with UN Refugee Agency (UNHCR) material as well as will analyze the interaction of the Turkish government with the European Union. Since Turkey is not part of the Union, it will be understood how the interaction was made, as well as the search for consensus, and not only humanitarian but also financial aid. The treatment of refugees and the defense of human rights within the country will also be considered.

Keywords: refugees, Turkey, asylum seekers, United Nations

Procedia PDF Downloads 348