Search results for: liquidity creation

Authors: Reza Safari, Ali Rajabzadeh Ghatari, Raheleh Hossseinzadeh Mahabadi

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In the present world, there are different pressures on firms such as competition, legislations, social etc. these pressures force the firms to follow “survival” as their primary goal and then growth. One of the main factors that helps firms to reach their goals is proper financial performance. To find out about the financial performance, a firm should monitors its financial performance. Financial performance affected by many factors. This research seeks to clear which financial performance indicators are most important according to Environmental situation of a firm and what are their priorities. To do so, environmental indicators specified as presented on OECD Key Environmental Indicators 2008 and so the financial performance indicators such as Profitability, Liquidity, Gearing, Investor ratios, and etc. At this stage, the affections questioned through questionnaires. After gaining the results, data analyzed using Promethee technique. By using decision matrixes extracted from those techniques an expert system designed. This expert system suggests the suitable financial performance indicators and their ranking by receiving the environment situation given environment indicators weight.

Keywords: environment indicators, financial performance indicators, promethee, expert system

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Authors: Mina Darabi Amin

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In 1972, Hans Robert Jauss introduced the Reception Theory a version of Reader-response criticism, that suggests the literary critics to re-examine the relationship between the author, the work and the reader. The revealing of these relationships has shown that, besides the creation, the reception and the reading of the text have different levels which exempt it from a continuous reference to the meaning intended by the artist and could lead to multiplicity of possible interpretations according to the ‘Horizon of Expectations’. This theory could be associated with another intellectual process called ‘translation’, a process that is always confronted by different levels of readers in the target language and different levels of reception by these readers. By adopting the perspective of Reception theory in translation, we could ignore a particular kind of translation and consider the initiation to a literary text, its translation and its reception as a continuous process. Just like the creation of the text, the translation and its reception, are not made once and for all; they are confronted with different levels of reception and interpretation which are made and remade endlessly. After having known and crossing the first levels, the Horizons of Expectation could be extended and the reader could be initiated to the higher levels. On the other hand, we could say that the faithful and free translation are not opposed to each other, but depending on the type of reception by the readers and in a particular moment, the existence of both is necessary. In fact, it is the level of reception in readers and their Horizon of Expectations that determine the degree of fidelity and freedom of translation.

Keywords: reception theory, reading, literary translation, horizons of expectation, reader

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Authors: M. V. Chidananda Murthy, M. Z. Kurian, H. S. Guruprasad

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Super-resolution is the technique of intelligently upscaling images, avoiding artifacts or blurring, and deals with the recovery of a high-resolution image from one or more low-resolution images. Single-image super-resolution is a process of obtaining a high-resolution image from a set of low-resolution observations by signal processing. While super-resolution has been demonstrated to improve image quality in scaled down images in the image domain, its effects on the Fourier-based technique remains unknown. Super-resolution substantially improved the spatial resolution of the patient LGE images by sharpening the edges of the heart and the scar. This paper aims at investigating the effects of single image super-resolution on Fourier-based and image based methods of scale-up. In this paper, first, generate a training phase of the low-resolution image and high-resolution image to obtain dictionary. In the test phase, first, generate a patch and then difference of high-resolution image and interpolation image from the low-resolution image. Next simulation of the image is obtained by applying convolution method to the dictionary creation image and patch extracted the image. Finally, super-resolution image is obtained by combining the fused image and difference of high-resolution and interpolated image. Super-resolution reduces image errors and improves the image quality.

Keywords: image dictionary creation, image super-resolution, LGE images, patch extraction

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Authors: Armijos-Orellana Ana, González-Calle María, Maldonado-Matute Juan, Guerrero-Maxi Pedro

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Nowadays, the digital economy represents a fundamental element to guarantee economic and social development, whose importance increased significantly with the arrival of the COVID-19 pandemic. However, despite the benefits it offers, it can also be detrimental to those developing countries characterized by a wide digital divide. It is for this reason that the objective of this research was to identify and describe the main characteristics, benefits, and obstacles of the digital economy for Latin American countries. Through a bibliographic review, using the analytical-synthetic method in the period 1995-2021, it was determined that the digital economy could give way to structural changes, reduce inequality, and promote processes of social inclusion, as well as promote the construction and participatory development of organizational structures and institutional capacities in Latin American countries. However, the results showed that the digital economy is still incipient in the region and at least three factors are needed to establish it: joint work between academia, the business sector and the State, greater emphasis on learning and application of digital transformation and the creation of policies that encourage the creation of digital organizations.

Keywords: developing countries, digital divide, digital economy, digital literacy, digital transformation

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Authors: Aelita Skarzauskiene, Monika Maciuliene

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In this paper, we conduct a systematic survey of urban communities in Lithuania to evaluate their potential to co-create collective intelligence or “civic intelligence” applying Digital Co-creation Index methodology that includes different socio-technological indicators. Civic intelligence is a form of collective intelligence that refers to the group’s capacity to perceive societal problems and to address them effectively. The research focuses on evaluation of diverse organizational designs that increase efficient collective performance. The current scientific project advanced the state of the art by evaluating the basic preconditions in the urban communities through which the collective intelligence is being co-created under the systemic manner. The research subject is the “bottom up” digital enabled urban platforms, initiated by Lithuanian public organizations, civic movements or business entities. The web-based monitoring results obtained by applying a social indices calculation methodology and Pearson correlation analysis provided the information about the potential and limits of the urban communities and what possible changes need to be implemented to overcome the limitations.

Keywords: computer supported collaboration, socio-technological system, collective intelligence, networked society

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Authors: Zsofia Nagy, Tibor Dessewffy

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The relationship between social movements and the media that represents them comprises both of the media representation of movements on the one hand, and the media strategies employed by movements on the other. A third possible approach is to connect the two and look at the interactions connecting the two sides. This relationship has been affected by the emergence of social networking sites (SNS) that have a transformative effect on both actors. However, the extent and direction of these changes needs to be investigated. Empirical case studies that focus on newly enabled forms of social movements can contribute to these debates in an analytically fruitful way. Therefore in our study, we use the case of Migration Aid, a Hungarian Facebook-based grassroots relief organization that gained prominence during the refugee crisis that unfolded in Hungary in 2015. Migration Aid formed without the use of traditional mobilizational agents, and that took over roles traditionally occupied by formal NGOs or the state. Analyzing different movement strategies towards the media - we find evidence that while effectively combining these strategies, SNSs also create affordances for movements to shift their strategy towards creating alternatives, their own micromedia. Beyond the practical significance of this – the ability to disseminate alternative information independently from traditional media – it also allowed the group to frame the issue in their own terms and to replace vertical modes of communication with horizontal ones. The creation of micromedia also shifts the relationship between social movements and the media away from an asymmetrical and towards a more symbiotic co-existence. We provide four central factors – project identity, the mobilization potential of SNSs, the disruptiveness of the event and selectivity in the construction of social knowledge – that explain this shift. Finally, we look at the specific processes that contribute to the creation of the movement’s own micromedia. We posit that these processes were made possible by the rhizomatic structure of the group and a function of SNSs we coin the Social Information Thermostat function. We conclude our study by positioning our findings in relation with the broader context.

Keywords: social networking sites, social movements, micromedia, media strategies

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Authors: James Kinsella

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There is currently very little understanding of how the interaction between in- vestors, consumers, the firms (agents) affect a) the transmission of information, and b) the creation and transfer of value and wealth between these two groups. Employing scholarly ideas from multiple research areas (behavioural finance, emotional finance, econo-biology, and game theory) we develop a conceptual the- oretic model (the ‘bow-tie’ model) as a framework for considering this interaction. Our bow-tie model views information transfer, value and wealth creation, and transfer through the lens of “investor-consumer connection facilitated through the communicative medium of the ‘firm’ (agents)”. We confront our bow-tie model with theoretical and practical examples. Next, we utilise consumer and business confidence data alongside index data, to conduct quantitative analy- sis, to support our bow-tie concept, and to introduce the concept of “investor- consumer connection”. We highlight the importance of information persuasiveness, knowledge, and emotional categorization of characteristics in facilitating a communicative relationship between investors, consumers, and the firm (agents), forming academic and practical applications of the conceptual bow-tie model, alongside applications to wider instances, such as those seen within the Covid-19 pandemic.

Keywords: behavioral finance, emotional finance, economy-biology, social mood

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Authors: V. B. Bastos, M. P. Lima, P. R. G. Kurka

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This paper applies to the creation of virtual 3D environments for the study and development of mobile robot image based navigation algorithms and techniques, which need to operate robustly and efficiently. The test of these algorithms can be performed in a physical way, from conducting experiments on a prototype, or by numerical simulations. Current simulation platforms for robotic applications do not have flexible and updated models for image rendering, being unable to reproduce complex light effects and materials. Thus, it is necessary to create a test platform that integrates sophisticated simulated applications of real environments for navigation, with data and image processing. This work proposes the development of a high-level platform for building 3D model’s environments and the test of image-based navigation algorithms for mobile robots. Techniques were used for applying texture and lighting effects in order to accurately represent the generation of rendered images regarding the real world version. The application will integrate image processing scripts, trajectory control, dynamic modeling and simulation techniques for physics representation and picture rendering with the open source 3D creation suite - Blender.

Keywords: simulation, visual navigation, mobile robot, data visualization

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Authors: Sélima Baccar, Ephraim Clark

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This paper can be considered as a new perspective to analyse credit spreads. A comprehensive empirical analysis of conditional variance of credit spreads indices is performed using various GARCH models. Based on a comparison between traditional and asymmetric GARCH models with alternative functional forms of the conditional density, we intend to identify what macroeconomic and financial factors have driven daily changes in the US Dollar credit spreads in the period from January 2011 through January 2013. The results provide a strong interdependence between credit spreads and the explanatory factors related to the conditions of interest rates, the state of the stock market, the bond market liquidity and the exchange risk. The empirical findings support the use of asymmetric GARCH models. The AGARCH and GJR models outperform the traditional GARCH in credit spreads modelling. We show, also, that the leptokurtic Student-t assumption is better than the Gaussian distribution and improves the quality of the estimates, whatever the rating or maturity.

Keywords: corporate bonds, default risk, credit spreads, asymmetric garch models, student-t distribution

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Authors: Victoria Legkikh

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To create a new Orthodox service of Jerusalem rite and to make it possible for a performance, one had to use several types of books. These are menaions and triodion, cleargy service book, stichirarion and typikon. These books keep a part of the information about the service, which a medieval copyist had to put together like a puzzle. But an abundance of necessary books and their variety created a lot of problems in copying services. The main problem was the difference of text in notated and not notated manuscripts (they were corrected at a different time) and lack of information in typikon, which provided only a type of hymns and their mode. After all, a copyist could have both corrected and not corrected manuscripts which also provided a different type of service. It brings us to the situation when we hardly have a couple of manuscripts containing the same service, and it is difficult to understand which changes were made voluntarily and which ones were provided by different types of available manuscripts. A recent paper proposes an analysis of every type of liturgical book and a way of using them in copying and correcting a service so we can divide voluntary changes and changes due to various types of books. The paper also proposes an index showing the “material” life of hymns in different types of manuscripts and the changes of its version and place in the same type of manuscript. This type of index can help in reconstructing the way of creation/copying service and can be useful for publication of the services providing necessary information of every hymn in every used manuscript.

Keywords: orthodox church music, creation, manuscripts, liturgical books

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Authors: Todor Nickolov Stoyanov

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These factors appear as a reason for difficulties in financing from programs for rural development of the European Union. Credit conditions for commercial banks are difficult to implement, and its interest rate is too high. One of the possibilities for short-term loans at preferential conditions for the small and medium-sized agricultural and forest owners is credit cooperative. After the changes, occurred in the country after 1990, the need to restore credit cooperatives raised. The purpose for the creation of credit cooperatives is to assist private agricultural and forest owners to take care for them, to assist in the expansion and strengthening of their farms, to increase the quality of life and to improve the local economy. It was found that: in Bulgaria there is a legal obstacle for credit cooperatives to expand their business in the deposit and lending sphere; private forest and agricultural owners need small loans to solve a small problem for a certain season; providing such loans is not attractive for banks, but it is extremely necessary for owners of small forests and lands; if a special law on credit cooperatives is adopted, as required by the Cooperatives Act, it will allow more local people to be members of such credit structures and receive the necessary loans. In conclusion, proposals to create conditions for the development of credit cooperatives in the country are made and positive results expected from the creation of credit cooperatives, are summarized.

Keywords: cooperatives, credit cooperatives, forestry, forest owners

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Authors: Udokporo Emeka Leonard

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The thrust of this paper is to examine how entrepreneurship can assist in the attainment of the first goal among the MDGs – eradication of extreme poverty and hunger in Nigeria. The paper discusses how national development can be driven through employment creation and wealth generation that can lead to reduction in widespread poverty so as to attain one crucial target, in fewer years. The task before Nigeria is certainly a herculean one; it is, in fact a race against time. However, in view of the clear and present danger that the increasing rate of poverty portends for our democracy and our nation, is a race we must; for it is a time bomb on our hands. The paper has been structured into sections; with the introduction as section one. Section two discusses the concept of entrepreneurship; Section three examines the link between entrepreneurship and economic development, while section four examines the challenges facing entrepreneurship in Nigeria. In section five, measures and recommendations to boost entrepreneurship that can drive economic development that translates into poverty reduction and employment creation in Nigeria are suggested. This work is a literature review with some understanding of current trends and situations. It outlines some of the difficulties facing entrepreneurship in Nigeria as the operating environment, inadequate understanding and skewed incentive. It also makes recommendations on possible ways to significantly reduce poverty in 2015.

Keywords: development, entrepreneur, Nigeria, poverty

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Authors: Prema Basargekar

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Facilitating the subject ‘Entrepreneurship Education’ in higher education, such as management studies, can be exhilarating as well as challenging. It is a multi-disciplinary and ever-evolving subject. Capturing entrepreneurship as a phenomenon in a holistic manner is a daunting task as it requires covering various dimensions such as new ideas generation, entrepreneurial traits, business opportunities scanning, the role of policymakers, value creation, etc., to name a few. Implicit entrepreneurship theory and effectuation are two different theories that focus on engaging the participants to create content by using their own experiences, perceptions, and belief systems. It helps in understanding the phenomenon holistically. The assumption here is that all of us are part of the entrepreneurial ecosystem, and effective learning can come through active engagement and peer learning by all the participants together. The present study is an attempt to use these theories in the class assignment given to the students at the beginning of the course to build the course content and understand entrepreneurship as a phenomenon in a better way through peer learning. The assignment was given to three batches of MBA post-graduate students doing the program in one of the private business schools in India. The subject of ‘Entrepreneurship Management’ is facilitated in the third trimester of the first year. At the beginning of the course, the students were given the assignment to submit a brief write-up/ collage/picture/poem or in any other format about “What entrepreneurship means to you?” They were asked to give their candid opinions about entrepreneurship as a phenomenon as they perceive it. Nearly 156 students doing post-graduate MBA submitted the assignment. These assignments were further used to find answers to two research questions. – 1) Are students able to use divergent and innovative forms to express their opinions, such as poetry, illustrations, videos, etc.? 2) What are various dimensions of entrepreneurship which are emerging to understand the phenomenon in a better way? The study uses the Brawn and Clark framework of reflective thematic analysis for qualitative analysis. The study finds that students responded to this assignment enthusiastically and expressed their thoughts in multiple ways, such as poetry, illustration, personal narrative, videos, etc. The content analysis revealed that there could be seven dimensions to looking at entrepreneurship as a phenomenon. They are 1) entrepreneurial traits, 2) entrepreneurship as a journey, 3) value creation by entrepreneurs in terms of economic and social value, 4) entrepreneurial role models, 5) new business ideas and innovations, 6) personal entrepreneurial experiences and aspirations, and 7) entrepreneurial ecosystem. The study concludes that an implicit approach to facilitate entrepreneurship education helps in understanding it as a live phenomenon. It also encourages students to apply divergent and convergent thinking. It also helps in triggering new business ideas or stimulating the entrepreneurial aspirations of the students. The significance of the study lies in the application of implicit theories in the classroom to make higher education more engaging and effective.

Keywords: co-creation of content, divergent thinking, entrepreneurship education, implicit theory

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Authors: Ana Martins, Isabel Martins

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The purpose of this research is to ascertain whether students at HEIs cultivate distributed leadership and higher-level skills to inspire knowledge creation. Critical reflection of extant literature illustrates the need for a culture of innovation in organizational sustainability. New age leadership behaviors harmonize innovation. The leadership self-efficacy construct supports organizational learning. This exploratory study applies the pragmatic paradigm methodology using the survey research method for primary data collection. A questionnaire was distributed to a sample of university students based in the Southern Anatolian region of Turkey, from both under and postgraduate Business degree programs. An analysis of the findings reveals a greater connection in influencing behavior relying more on the task-centered perspective rather than with the people perspective. These results reveal the need for HEIs to instill a humanistic perspective in curricula enabling graduates to be capable leaders with the awareness soft skills to energize creativity and innovation. A limitation of this research is that one university makes it difficult to generalize to a broader population. This study is of added value for scholars and organizations in the current knowledge and innovation economy.

Keywords: distributed leadership, exploration, higher education institutions, innovation, knowledge creation, learning, self-efficacy

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Authors: Mita Sirait

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Everyday Jakarta produces 7,000 tons of solid waste and only about 5,200 tons delivered to landfill out of the city by 720 trucks, the rest are left yet manageable, as reported by Government of Clean Sector. CLEAN Jakarta Project is aimed at empowering community to achieve healthy environment for children and families in urban slum in Semper Barat and Penjaringan sub-district of North Jakarta that consisted of 20,584 people. The project applies Community Based Total Sanitation, an approach to empowering community to achieve total hygiene and sanitation behaviour by triggering activities. As regulated by Ministry of Health, it has 5 pillars: (1) open defecation free, (2) hand-washing with soaps, (3) drinking-water treatment, (4) solid-waste management and (5) waste-water management; and 3 strategic components: 1) demand creation, 2) supply creation and 3) enabling environment. Demand creation is generated by triggering community’s reaction to their daily sanitation habits by exposing them to their surrounding where they can see faeces, waste and other environmental pollutant to stimulate disgusting, embarrassing and responsibility sense. Triggered people then challenged to commit to improving their hygiene practice such as to stop littering and start waste separation. In order to support this commitment, and for supply creation component, the project initiated waste bank with community working group. It facilitated capacity-building trainings, waste bank system formulation and meetings with local authorities to solicit land permit and waste bank decree. As it is of a general banking system, waste bank has customer service, teller, manager, legal paper and provides saving book and money transaction. In 8 months, two waste banks have established with 148 customers, 17 million rupiah cash, and about 9 million of stored recyclables. Approximately 2.5 tons of 15-35 types of recyclable are managed in both waste banks per week. On enabling environment, the project has initiated sanitation working group in community and multi sectors government level, and advocated both parties. The former is expected to promote behaviour change and monitoring in the community, while the latter is expected to support sanitation with regulations, strategies, appraisal and awards; to coordinate partnering and networking, and to replicate best practices to other areas.

Keywords: urban community, waste management, Jakarta, community based total sanitation (CBTS)

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Authors: Mahmoud Reza Hosseini

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The universe is in a continuous expansion process, resulting in the reduction of its density and temperature. Also, by extrapolating back from its current state, the universe at its early times is studied known as the big bang theory. According to this theory, moments after creation, the universe was an extremely hot and dense environment. However, its rapid expansion due to nuclear fusion led to a reduction in its temperature and density. This is evidenced through the cosmic microwave background and the universe structure at a large scale. However, extrapolating back further from this early state reaches singularity which cannot be explained by modern physics and the big bang theory is no longer valid. In addition, one can expect a nonuniform energy distribution across the universe from a sudden expansion. However, highly accurate measurements reveal an equal temperature mapping across the universe which is contradictory to the big bang principles. To resolve this issue, it is believed that cosmic inflation occurred at the very early stages of the birth of the universe. According to the cosmic inflation theory, the elements which formed the universe underwent a phase of exponential growth due to the existence of a large cosmological constant. The inflation phase allows the uniform distribution of energy so that an equal maximum temperature could be achieved across the early universe. Also, the evidence of quantum fluctuations of this stage provides a means for studying the types of imperfections the universe would begin with. Although well-established theories such as cosmic inflation and the big bang together provide a comprehensive picture of the early universe and how it evolved into its current state, they are unable to address the singularity paradox at the time of universe creation. Therefore, a practical model capable of describing how the universe was initiated is needed. This research series aims at addressing the singularity issue by introducing a state of energy called a “neutral state” possessing an energy level which is referred to as the “base energy”. The governing principles of base energy are discussed in detail in our second paper in the series “A Conceptual Study for Addressing the Singularity of the Emerging Universe” which is discussed in detail. To establish a complete picture, the origin of the base energy should be identified and studied. In this research paper, the mechanism which led to the emergence of this natural state and its corresponding base energy is proposed. In addition, the effect of the base energy in the space-time fabric is discussed. Finally, the possible role of the base energy in quantization and energy exchange is investigated. Therefore, the proposed concept in this research series provides a road map for enhancing our understating of the universe's creation from nothing and its evolution and discusses the possibility of base energy as one of the main building blocks of this universe.

Keywords: big bang, cosmic inflation, birth of universe, energy creation, universe evolution

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Authors: Michael Smalenberger

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Intelligent tutoring systems (ITS) are computer-based platforms which can incorporate artificial intelligence to provide step-by-step guidance as students practice problem-solving skills. ITS can replicate the benefits of one-on-one tutoring, foster transactivity in collaborative environments, and lead to substantial learning gains when used to supplement the instruction of a teacher or when used as the sole method of instruction. Developments improving the ease of ITS creation have recently increased their proliferation, leading many K-12 schools and institutions of higher education in the United States to regularly use ITS within classrooms. We investigated how students perceive their experience using an ITS. In this study, 111 undergraduate students used an ITS in a college-level introductory statistics course and were subsequently asked for feedback on their experience. Results show that their perceptions were generally favorable of the ITS, and most would seek to use an ITS both for STEM and non-STEM courses in the future. Along with detailed transaction-level data, this feedback also provides insights on the design of user-friendly interfaces, guidance on accessibility for students with impairments, the sequencing of exercises, students’ expectation of achievement, and comparisons to other tutoring experiences. We discuss how these findings are important for the creation, implementation, and evaluation of ITS as a mode and method of teaching and learning.

Keywords: college statistics course, intelligent tutoring systems, in vivo study, student perceptions of tutoring

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: Alimshan Faizulayev, Eralp Bektas, Abdul Ghafar Ismail, Bezhan Rustamov

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This paper performs empirical analysis on determinants of profitability in Islamic and Conventional Banks. The main focus of this study is to evaluate and measure of financial performance of Islamic banking firms operating in Egypt, Iran, Malaysia, Pakistan, Turkey, UAE in contrast to Conventional ones in those countries. To evaluate empirically performance of the banks, various financial ratios are employed. We measure performance in terms of liquidity, profitability, solvency, and efficiency. In this work, t-test, F-test, and OLS analysis are used to make hypothesis tests. Our findings reveal that there are similarities and differences in profitability determinants of Islamic and Conventional banking firms. The cost to revenue ratio has inverse relationship with profitability indicators in both banking systems. However, there are differences in financial performances between Conventional Banks and Islamic banks which are found in overall picture of all banks in terms of net income margin.

Keywords: Islamic banking, conventional banking, GDP growth, emerging market economies

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Authors: Safa Moussoud

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Contrary to modern misconceptions, women in the Muslim Middle Ages enjoyed a generous degree of liberty both in the public and private sphere. Poetry was a significant component of public life throughout the Muslim Civilization as its vitality and multi-generic nature acted as a way for medieval Muslims to communicate with each other. As such, a continuity of poetic literary heritage was preserved through multiple centuries and dynasties. This paper will argue that Muslim women were active participants in medieval Muslim society’s social and public sphere and therefore, can be seen as vital contributors to the intellectual and literary creation of the Muslim Civilization. This paper will examine poetry written by Safiyya al-Baghddadiya and Salma bint al-Qaratisi from the Abbasid period, as well as Wallada bint al-Mustakfi from the Andalusian period and focus particularly at the poetesses’ modes of self-expression regarding beauty and sexuality to argue that Medieval Muslim women enjoyed creative and literary liberty thus allowing them to proclaim their subjectivity publicly through poetry. By emphasizing women’s involvement in the social aspects of Medieval Muslim societies, this paper will ultimately urge for a more thorough investigation of Muslim women’s role and function in the making of the Muslim Civilization.

Keywords: Arabo-Islamic society, medieval Muslims, Muslim poetesses, self-expression

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Authors: Teresa Carlone, Matteo Mannocchi

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In the last decade, a growing number of International Organizations are pushing toward green solutions for adaptation to climate change. This is particularly true in the field of Disaster Risk Reduction (DRR) and land planning, where Nature-Based Solutions (NBS) had been sponsored through funding programs and planning tools. Stakeholder engagement and co-creation of NBS is growing as a practice and research field in environmental projects, fostering the consolidation of a multidisciplinary socio-ecological approach in addressing hydro-meteorological risk. Even thou research and financial interests are constantly spread, the NBS mainstreaming process is still at an early stage as innovative concepts and practices make it difficult to be fully accepted and adopted by a multitude of different actors to produce wide scale societal change. The monitoring and impact evaluation of stakeholders’ participation in these processes represent a crucial aspect and should be seen as a continuous and integral element of the co-creation approach. However, setting up a fit for purpose-monitoring strategy for different contexts is not an easy task, and multiple challenges emerge. In this scenario, the Horizon 2020 OPERANDUM project, designed to address the major hydro-meteorological risks that negatively affect European rural and natural territories through the co-design, co-deployment, and assessment of Nature-based Solution, represents a valid case study to test a monitoring strategy from which set a broader, general and scalable monitoring framework. Applying a participative monitoring methodology, based on selected indicators list that combines quantitative and qualitative data developed within the activity of the project, the paper proposes an experimental in-depth analysis of the stakeholder engagement impact in the co-creation process of NBS. The main focus will be to spot and analyze which factors increase knowledge, social acceptance, and mainstreaming of NBS, promoting also a base-experience guideline to could be integrated with the stakeholder engagement strategy in current and future similar strongly collaborative approach-based environmental projects, such as OPERANDUM. Measurement will be carried out through survey submitted at a different timescale to the same sample (stakeholder: policy makers, business, researchers, interest groups). Changes will be recorded and analyzed through focus groups in order to highlight causal explanation and to assess the proposed list of indicators to steer the conduction of similar activities in other projects and/or contexts. The idea of the paper is to contribute to the construction of a more structured and shared corpus of indicators that can support the evaluation of the activities of involvement and participation of various levels of stakeholders in the co-production, planning, and implementation of NBS to address climate change challenges.

Keywords: co-creation and collaborative planning, monitoring, nature-based solution, participation & inclusion, stakeholder engagement

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Authors: Chaoren Lu

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Public policy is playing as one driving force that influencing service innovation implementation in public sector. However, public policy implications cannot be automatically derived from the analyses of innovation issues, and there lacks of researches about the influences of public policy onto innovation. Moreover, innovation in service system is hard to predictable and whether policy encourages or hidden innovation is still lack of study. Especially, by given the context that multiple actors are active involving within the service delivery process in public transport sector, the complex driving forces and challenges are emerged towards the service operation. This study is aim to analysis the service innovation practices within service operating organizations to understand the drivers and challenges of service operation based on policy requirements, and where the innovation idea generating from. The case studies of Changzhou Transit Group and Nanjing Jiangnan Public Transit Group will be launched. This paper reveals the ambidexterity between top-down and bottom-up demands within the public transport service operating organizations contribute to the innovation ideas. Meanwhile, it contributes to the understanding of fundamental elements of service innovation is the new relationship creation and new way of sharing knowledge. The policy contributes to the trigger of creation of such relationship. The research question is: what are the sources of service innovation practices in local public transport system in China in in facing the policy implementation?

Keywords: public value, service innovation, public transport service, China

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Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

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Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

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Authors: Yohannes Haile, Dipo Onipede, Jr., Omar Ashour

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The main thrust of our research is to determine Industry 4.0 readiness of small and mid-size manufacturing companies in our region and assist them to implement Cyber Physical Production System (CPPS) capabilities. Adopting CPPS capabilities will help organizations realize improved quality, order delivery, throughput, new value creation, and reduced idle time of machines and work centers of their manufacturing operations. The key metrics for the assessment include the level of intelligence, internal and external connections, responsiveness to internal and external environmental changes, capabilities for customization of products with reference to cost, level of additive manufacturing, automation, and robotics integration, and capabilities to manufacture hybrid products in the near term, where near term is defined as 0 to 18 months. In our initial evaluation of several manufacturing firms which are profitable and successful in what they do, we found low level of Physical-Digital-Physical (PDP) loop in their manufacturing operations, whereas 100% of the firms included in this research have specialized manufacturing core competencies that have differentiated them from their competitors. The level of automation and robotics integration is low to medium range, where low is defined as less than 30%, and medium is defined as 30 to 70% of manufacturing operation to include automation and robotics. However, there is a significant drive to include these capabilities at the present time. As it pertains to intelligence and connection of manufacturing systems, it is observed to be low with significant variance in tying manufacturing operations management to Enterprise Resource Planning (ERP). Furthermore, it is observed that the integration of additive manufacturing in general, 3D printing, in particular, to be low, but with significant upside of integrating it in their manufacturing operations in the near future. To hasten the readiness of the local and regional manufacturing companies to Industry 4.0 and transitions towards CPPS capabilities, our working group (ADMAR Working Group) in partnership with our university have been engaged with the local and regional manufacturing companies. The goal is to increase awareness, share know-how and capabilities, initiate joint projects, and investigate the possibility of establishing the Center for Cyber Physical Production Systems Innovation (C2P2SI). The center is intended to support the local and regional university-industry research of implementing intelligent factories, enhance new value creation through disruptive innovations, the development of hybrid and data enhanced products, and the creation of digital manufacturing enterprises. All these efforts will enhance local and regional economic development and educate students that have well developed knowledge and applications of cyber physical manufacturing systems and Industry 4.0.

Keywords: automation, cyber-physical production system, digital manufacturing enterprises, disruptive innovation, new value creation, physical-digital-physical loop

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Authors: Hanei Son

Abstract:

Since the beginning of the 2010s, ‘start-up boom’ has continued with the creation of many new enterprises in Korea. Such tendency was led by various changes in society such as emergence and diffusion of smartphones. Especially, the Korean government has been interested in start-ups and entrepreneurship as an alternative engine for Korea's economic growth. With strong support from the government, as a result, many new enterprises have been established for recent years and the Korean government seems to have achieved its goal: expanding the basis of start-ups. However, it is unclear which factors affect the survival and growth of these new enterprises after their creation. Therefore, this study aims to identify which start-ups from early 2010s survived and which factors influenced their survival and growth. The study will strongly focus on which industries the new enterprises were in, as environmental elements are expected to be critical factors for business of start-ups in Korean context. For this purpose, 105 companies which were introduced as high potential start-ups from 2010 to 2012 were considered in the analysis. According to their current status, dead or alive, the start-ups were categorized by their industries and service area. Through this analysis, it was observed that many start-ups that are still in business are in internet or mobile platform businesses and four major sectors. In each group, a representative case has been studied to reveal its survival and growth factors. The results point to the importance of industrial characteristics for the survival and success of Korean startups and offer political implications in which sector and business more potentials for start-ups in Korea lie in.

Keywords: government support for start-ups, industrial characteristics, Korean start-ups, survival of start-ups

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Authors: Anifowose Oluwafemi Dele, Ngah Rohana, Hasni Abdulahi

Abstract:

The economic crisis, which resulted in university funding cuts with an astronomically devastating impact on teaching and research around the world. Sequel to this, Nigerian universities are in disarray due to insufficient government funding and are under pressure to discover new financial streams of Internally Generated Revenue (IGR) to disentangle finance-related teething problems and most tangible means of outsourcing finance inclusively for the creation of more entrepreneurial ventures through the possibilities of prudent IGR management. To the best of our knowledge, one way to address this still-unknown or underappreciated cog is through the strategic use of IGR and the outsourcing of financing for the launch of entrepreneurial ventures. As a result, it is critical to investigate and evaluate financial inclusion through prudently managed IGR to achieve greater financial inclusion for more long-term entrepreneurial ventures. Justifying the need to look inward and devise mechanisms for strong instruments internal fund raising and managing cash inflows to benefit university entrepreneurial ventures to increase the University's IGR for the benefit of the university and its stakeholders. The paper concludes that University Managers must fully accept the use of genuine means of boosting IGR through financial inclusion of in-house funds to aggressively established IGR boosting and the creation of entrepreneurial ventures that could serve as an alternative to inadequate government funding.

Keywords: government funding, university managers, financial inclusion, entrepreneurial venture

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Authors: Nomakhosi Tshuma, Carley Chetty

Abstract:

This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt.

Keywords: financial performance, determinants of financial performance, business in Africa, telecommunications industry

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Authors: M. Bartal

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A large empirical evidence points to sizable lifetime earnings losses associated with the displacement of tenured workers. The causes of these losses are still not well-understood. Existing explanations are heavily based on human capital depreciation during non-employment spells. In this paper, a new avenue is explored. Evidence on the role of household liquidity constraints in accounting for the persistence of post-displacement earning losses is provided based on SIPP data. Then, a directed search and matching model with endogenous human capital and wealth accumulation is introduced. The model is computationally tractable thanks to its block-recursive structure and highlights a non-trivial, yet intuitive, interaction between wealth and human capital. Constrained workers tend to accept jobs with low firm-sponsored training because the latter are (endogenously) easier to find. This new channel provides a plausible explanation for why young (highly constrained) workers suffer persistent scars after displacement. Finally, the model is calibrated on US data to show that the interplay between wealth and human capital is crucial to replicate the observed lifecycle pattern of earning losses. JEL— E21, E24, J24, J63.

Keywords: directed search, human capital accumulation, job displacement, wealth accumulation

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Authors: Daniel Thompson, Muhammad Peerbux, Sophie Cerutti, Hansraj Bookun

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Introduction: Dialysis access is a key component of the care of patients with end stage renal failure. In our institution, a combined service of vascular surgeons and nephrologists are responsible for the creation and maintenance of arteriovenous fisultas (AVF), tenckhoff cathethers and Hickman/permcath lines. This poster investigates the last 10 years of dialysis access surgery conducted at St. Vincent’s Hospital Melbourne. Method: A cross-sectional retrospective analysis was conducted of patients of St. Vincent’s Hospital Melbourne (Victoria, Australia) utilising data collection from the Australasian Vascular Audit (Australian and New Zealand Society for Vascular Surgery). Descriptive demographic analysis was carried out as well as operation type, length of hospital stays, postoperative deaths and need for reoperation. Results: 2085 patients with renal failure were operated on between the years of 2011 and 2020. 1315 were male (63.1%) and 770 were female (36.9%). The mean age was 58 (SD 13.8). 92% of patients scored three or greater on the American Society of Anesthiologiests classification system. Almost half had a history of ischaemic heart disease (48.4%), more than half had a history of diabetes (64%), and a majority had hypertension (88.4%). 1784 patients had a creatinine over 150mmol/L (85.6%), the rest were on dialysis (14.4%). The most common access procedure was AVF creation, with 474 autologous AVFs and 64 prosthetic AVFs. There were 263 Tenckhoff insertions. We performed 160 cadeveric renal transplants. The most common location for AVF formation was brachiocephalic (43.88%) followed by radiocephalic (36.7%) and brachiobasilic (16.67%). Fistulas that required re-intervention were most commonly angioplastied (n=163), followed by thrombectomy (n=136). There were 107 local fistula repairs. Average length of stay was 7.6 days, (SD 12). There were 106 unplanned returns to theatre, most commonly for fistula creation, insertion of tenckhoff or permacath removal (71.7%). There were 8 deaths in the immediately postoperative period. Discussion: Access to dialysis is vital for patients with end stage kidney disease, and requires a multidisciplinary approach from both nephrologists, vascular surgeons, and allied health practitioners. Our service provides a variety of dialysis access methods, predominately fistula creation and tenckhoff insertion. Patients with renal failure are heavily comorbid, and prolonged hospital admission following surgery is a source of significant healthcare expenditure. AVFs require careful monitoring and maintenance for ongoing utility, and our data reflects a multitude of operations required to maintain usable access. The requirement for dialysis is growing worldwide and our data demonstrates a local experience in access, with preferred methods, common complications and the associated surgical interventions.

Keywords: dialysis, fistula, nephrology, vascular surgery

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Authors: Mira Filali, Amar Nechnech

Abstract:

Most landslides in Algiers take place in Piacenzian marls of the Sahel (port in Arabic) and cause severe damage to properties and infrastructures. The aim of this paper is to describe the results of experimental as well as theoretical analysis of landslides. In order to understand the process which caused this slope instabilities, the results of geotechnical investigation carried out by the laboratory of construction (LNHC) laboratory in the area of Dounia park were analyzed, including particle size distribution, Atterberg limits, shear strength, odometer and pressuremeter tests. The study shows that the soils exhibited a high capacity to swelling according to index plasticity and clay content. Highs limit liquidity (LL) (53.45%) means that the soils are susceptible to landslides. The stability analysis carried out using finite element method, shows that the slope is stable (Fs > 1) in dry condition and in static state. Despite this results, the stable site could be described as only conditionally stable because slope failure can occur under combined effect of different factors. In fact the safety factor obtained by applying load when the phreatic surface is at ground, less than 1.5.

Keywords: index properties, landslides, safety factor, slope stability

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