Search results for: sustainable banking

Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Oktofa Y. Sudrajad, Didier V. Caillie

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Association of Southeast Asian Countries Nations (ASEAN) is moving forward to the next level of regional integration by the initiation of ASEAN Economic Community (AEC) which is already started in 2015, 8 years after its declaration for the creation of AEC in 2007. This commitment imposes financial integration in the region is one of the main agenda which will be achieved until 2025. Therefore, the commitment to financial integration including banking integration will bring new landscape in the competition and business model in this region. This study investigates the effect of competition on bank business model using a sample of 324 banks from seven members of Association of Southeast Asian Nations (ASEAN) countries (Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). We use market power approach and Boone indicator as competition measures, while income diversification and bank funding strategies are employed as bank business model representation. Moreover, we also evaluate bank business model based by grouping the banks based on the main banking characteristics. We use unbalanced bank-specific annual panel data over the period of 2003 – 2015. Our empirical analysis shows that the banking industries in ASEAN countries adapt their business model by increasing non-interest income proportion due to the level of competition increase in the sector.

Keywords: bank business model, banking competition, Boone indicator, market power

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Authors: Tadayuki Kyoutani, Shigeyuki Haruyama, Ken Kaminishi, Zefry Darmawan

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Japan’s semiconductor industries have developed greatly in recent years. Many were started from a Small and Medium-sized Enterprises (SMEs) that found at a good circumstance and now become the prosperous industries in the world. Sustainable growth factors that support the creation of spirit value inside the Japanese company were strongly embedded through performance. Those factors were not clearly defined among each company. A series of literature research conducted to explore quantitative text mining about the definition of sustainable growth factors. Sustainable criteria were developed from previous research to verify the definition of the factors. A typical frame work was proposed as a systematical approach to develop sustainable growth factor in a specific company. Result of approach was review in certain period shows that factors influenced in sustainable growth was importance for the company to achieve the goal.

Keywords: SME, manufacture, sustainable, growth factor

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Authors: Ahmad Alsaber

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This paper aims to understand the intermediary role of the payment platform applications by analyzing the various factors that can influence the desirability of utilizing said payment services in Kuwait, as well as to determine the effect of the presence of different types of payment platforms on the variables of the “Unified Theory of Acceptance and Use of Technology” (UTAUT) model. The UTAUT model's findings will provide an important understanding of the moderating role of payment platform mobile applications. This study will explore the influence of payment platform mobile applications on customer purchase intentions in Kuwait by employing a quantitative survey of 200 local customers. Questions will cover their usage of payment platforms, purchase intent, and overall satisfaction. The information gathered is then analyzed using descriptive statistics and correlation analysis in order to gain insights. The research hopes to provide greater insight into the effect of mobile payment platforms on customer purchase intentions in Kuwait. This research will provide important implications to marketers and customer service providers, informing their strategies and initiatives, as well as offer recommendations to payment platform providers on how to improve customer satisfaction and security. The study results suggest that the likelihood of a purchase is affected by performance expectancy, effort expectancy, social influence, risk, and trust. The purpose of this research is to understand the advancements in the different variables that Kuwaiti customers consider while dealing with mobile banking applications. With the implementation of stronger security measures, progressively more payment platform applications are being utilized in the Kuwaiti marketplace, making them more desirable with their accessibility and usability. With the development of the Kuwaiti digital economy, it is expected that mobile banking will have a greater impact on banking transactions and services in the future.

Keywords: purchase intention, UTAUT, performance expectancy, social influence, risk, trust

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Authors: Zidane Abderrezaq

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This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: Erkan Rehber, Hasan Vural, Sule Turhan

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It is a fact that food is a vital need of human beings. As a consumer, everyone has the right to access adequate and safe food. There are considerable development to establish quality standards and schemes to have safe foods and sustainable agriculture alternatives to protect natural resources and environment to reach this target. Recently, there is also a remarkable development in integration and combination of these efforts. Food Safety and Sustainable Agriculture Forum organized in 2014, Beijing shows that it is a global awareness more than being an individual view. Eventually, quality standards, assurance systems applied to conventional agriculture has to be applied to sustainable agriculture alternatives to have a holistic sustainable food chain from seed to fork. All actors of the whole food system from farmer to ultimate consumers, along with the state, have to work together meeting this big challenge.

Keywords: integrated safe, food safety, sustainable food system, consumer

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Authors: Sarah A. Tobin

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Social justice outcomes, derived from customer satisfaction, serve as a main pathway and conduit for achieving Sustainable Development Goals (SDGs) because they prompt democratizing and socially-inclusive effects that are consistent with Islamic economic values. This paper argues that achieving higher levels of social justice and the SGDs is possible only through the realization of Islamic banking and finance customer satisfaction that aligns with Islamic values in the tradition of the Shari`a (or Islamic law). Through this key manifestation of Shari`a in the banks, social justice aims of achieving SDGs become possible. This paper utilizes a case study of a large-scale survey (N=127) comparing customer satisfaction between a conventional and an Islamic bank in Amman, Jordan. Based on a series of linear regressions, the statistically-significant findings suggest that when overall customer satisfaction is high, customers are more likely to become empowered citizens demanding inclusive, quality services and corruption-free management, as well as attribute their experiences to the Islamic nature of the financial endeavors. Social justice interests and expectations increase (and SDGs are more likely met) when a customer has high levels of satisfaction. The paper concludes with policy recommendations for Islamic financial institutions that enhance customer service experiences for better achieving the social justice aims of the Islamic economy and SDGs, including transparency in transactions, exemplary customer service and follow up, and attending to Islamic values in the aesthetics of bank.

Keywords: customer satisfaction, Islamic economy, social justice, sustainable development goals

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Authors: Saurav Sharma, Deepshikha Sharma, Pratibha Sharma

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This paper includes fast fashion verses sustainable fashion or slow fashion Indian based consumers. The expression ‘Fast fashion’ is generally referred to low-cost clothing collections that considered first hand copy of luxury brands, sometime interchangeably used with ‘mass fashion’. Whereas slow fashion or limited fashion which are consider to be more organic or eco-friendly. "Sustainable fashion is ethical fashion and here the consumer is just not design conscious but also social-environment conscious". Paper will deal with desire of young Indian consumer towards such luxury brands present in India, and their understanding of sustainable fashion, how to maintain the equilibrium between never newer fashion, style, and fashion sustainability.

Keywords: fast fashion, sustainable fashion, sustainability, India

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Authors: Lilia Righi

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Recently, the fashion industry has demonstrated a keen interest in sustainability and the environment. Sustainable fashion has huge potential and appeals to environmentally conscious Generation Z shoppers. Meanwhile, Generation Z customers have attracted researchers' interest due to their overconsumption of clothing. However, most studies in this area focus on designing or producing sustainable clothing, with little exploration of consumers. To fill this gap, the present study aims to determine the important factors influencing Generation Z consumers' decisions to purchase sustainable fashion by mobilizing the theory of planned behavior (TPB). It uses deductive qualitative research based on 18 semi-structured interviews with Generation Z consumers in France. Qualitative data will be analyzed using reflective thematic analysis. On a theoretical level, this research contributes to enriching the literature by mobilizing, for the first time, the theory of planned behavior in the context of sustainable fashion. On a practical level, the results can help practitioners determine effective marketing strategies to persuade Generation Z to consume sustainable clothing.

Keywords: generation Z, qualitative methodology, sustainable fashion, theory of planned behavior (TPB).

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Authors: Mahmood Mohammed Abdulsattar Aljumaili

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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.

Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market

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Authors: R. M. R. Hussein

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Sustainable urban waterfront development is one of the most interesting phenomena of urban renewal in the last decades. However, there are still many cities whose visual image is compromised due to the lack of a sustainable urban waterfront development, which consequently affects the place of those cities globally. This paper aims to reimagine the role of waterfront areas in city design, with a particular focus on Egypt, so that they provide attractive, sustainable urban environments while promoting the continued aesthetic development of the city overall. This aim will be achieved by determining the main principles of a sustainable urban waterfront and its applications. This paper concentrates on sustainability assessment rating systems. A number of international case-studies, wherein a city has applied the basic principles for a sustainable urban waterfront and have made use of sustainability assessment rating systems, have been selected as examples which can be applied to the urban waterfronts in Egypt. This paper establishes the importance of developing the design of urban environments in Egypt, as well as identifying the methods of sustainability application for urban waterfronts.

Keywords: sustainable urban waterfront, green infrastructure, energy efficient, Cairo

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Authors: Deden Misbahudin Muayyad, Lavlimatria Esya

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Up to the month of June 2015, Indonesia has 12 Islamic Commercial Banks, 22 Islamic Business Unit, 327 offices in 33 provinces. The initial purpose of the establishment of Islamic financial institutions is to achieve and the welfare of the people in this world and in the hereafter. To realize these goals, the Islamic financial institutions in every kind of aspect of product development and in terms of operations should be based on maqashid sharia, namely keeping the faith, keep the soul, keep the sense, maintain the property, keeping the offspring. To see whether Islamic banking grounded in maqasid sharia, the Islamic banking performance measurements based on the principles of maqasid sharia. Banking performance measurement is not only focusing on profit and other financial measures, but put other values of banks reflects the size of the benefit of non-profit in accordance with the bank's objectives. The measurement using the measurement of financial performance called maqasid sharia index. Maqasid syariah index is a model of Islamic banking performance measurement in accordance with the objectives and characteristics of Islamic banking. Maqasid syariah index was developed based on three main factors, namely the education of individuals, the creation of justice, the achievement of well-being, where the three factors were in accordance with the common goal of maqasid sharia is achieving prosperity and avoid evil. Maqasid syariah index shows that maqasid sharia approach can be a strategic alternative approach to describe how good the performance of the banking system and it can be implemented in the comprehensive policy strategy. This study uses a model of performance measurement framework based on maqasid syariah, in addition to financial performance measures that already exist. Methods to develop the idea of a performance measurement framework of Islamic banking by maqasid sharia is the Sekaran method. Operationally, the methods have now able to describe the elements that will be measured by this study. This is done by observing the behavior of the dimensions illustrated through a concept that has been set. These dimensions translate into derivative elements that can be observed and more scalable, so it can establish measurement indices. This research is descriptive quantitative. Techniques are being made to collect data in this paper is by using purposive sampling method, with 12 Islamic Commercial Banks that qualify as research samples. The financial data taken at 12 banks was sourced from the annual financial statements the period 2008 to 2012 with consideration of the database and ease of access to data. The ratio measured in this study only 7 ratio used in determining the performance of Islamic banking, namely: four ratio refers to the sharia objectives related to education. three ratio while again referring to sharia objectives related to the achievement of welfare. While other ratios associated with justice can not be used in this study because of the limited data used. Total overall calculation of performance indicators and performance ratios on each goal for each bank describes the maqasid syariah index.

Keywords: Islamic banking, Maslahah, maqashid syariah, maqashid syariah index

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Authors: Siti Nor Amira Bt. Mohamad, Mohamad Yazis B. Ali Basah, Muhammad Ridhwan B. Ab. Aziz, Khairil Faizal B. Khairi, Mazlynda Bt. Md. Yusuf, Hisham B. Sabri

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The understanding of risk and the concept of it occurs associated in Islamic financing was well-known in the financial industry by the using of Profit-and-Loss Sharing (PLS). It was presently in any Islamic financial transactions in order to comply with shariah rules. However, the existence of risk in Murabahah contract of financing is an ability that the counterparty is unable to complete its obligations within the agreed terms. Therefore, it is called as credit or default risk. Credit risk occurs when the client fails to make timely payment after the bank makes complete delivery of assets. Thus, it affects the growth of the bank as the banking business is in no position to have appropriate measures to cover the risk. Therefore, the bank may impose penalty on the outstanding balance. This paper aims to highlight the credit risk determinant and issues surrounding in Islamic bank in Malaysia in terms of Murabahah financing and how to manage it by using the proper techniques. Finally, it explores the credit risk management concept that might solve the problems arise. The study found that the credit risk can be managed properly by improving the use of comprehensive reference checklist of business partners on their character and past performance as well as their comprehensive database. Besides that, prevention of credit risk can be done by using collateral as security against the risk and we also argue on the Shariah guidelines and procedures should be implement coherently by the banking business because so that the risk would be control by having an effective instrument for Islamic modes of financing.

Keywords: Islamic banking, credit risk, Murabahah financing, risk mitigation

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Authors: Gholamreza Farrokhi, Behzad Sani

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The goals of sustainable agricultural are development, improved nutrition, and food security. Sustainable agriculture must be developed that will meet today’s needs for food and other products, as well as preserving the vital natural resource base that will allow future generations to meet their needs. Sustainable development requires international cooperation and the effective use of technology. Access to sustainable sources of food will remain a preeminent challenge in the decades to come. Based upon current practice and consumption, agricultural production will have to increase by about 70% by 2050 to meet demand. Nuclear techniques are used in developing countries to increase production sustainably by breeding improved crops, enhancing livestock reproduction and nutrition, as well as controlling animal and plant pests and diseases. Post-harvest losses can be reduced and safety increased with nuclear technology. Soil can be evaluated with nuclear techniques to conserve and improve soil productivity and water management.

Keywords: food safety, food security, nuclear techniques, sustainable agriculture, sustainable future

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Authors: S. H. Iranmanesh, L. Aliabadi, A. Mollajan

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Integrated resilience engineering (IRE) is capable of returning banking systems to the normal state in extensive economic circumstances. In this study, information system of a large bank (with several branches) is assessed and optimized under severe economic conditions. Data envelopment analysis (DEA) models are employed to achieve the objective of this study. Nine IRE factors are considered to be the outputs, and a dummy variable is defined as the input of the DEA models. A standard questionnaire is designed and distributed among executive managers to be considered as the decision-making units (DMUs). Reliability and validity of the questionnaire is examined based on Cronbach's alpha and t-test. The most appropriate DEA model is determined based on average efficiency and normality test. It is shown that the proposed integrated design provides higher efficiency than the conventional RE design. Results of sensitivity and perturbation analysis indicate that self-organization, fault tolerance, and reporting culture respectively compose about 50 percent of total weight.

Keywords: banking system, Data Envelopment Analysis (DEA), Integrated Resilience Engineering (IRE), performance evaluation, perturbation analysis

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Authors: Sevelina Ndlovu

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Financial Technology (fintech) advancement is recognised as one of the most transformational innovations in the financial industry. Fintech has given rise to internet-only digital banking, a novel financial technology advancement, and innovation that allows banking services through internet applications with no need for physical branches. This technology is becoming a new banking normal among consumers for its ubiquitous and real-time access advantages. There is evident switching and migration from traditional banking towards these fintech facilities, which could possibly pose a systemic risk if not properly understood and monitored. Fintech advancement has also brought about the emergence and escalation of financial technology consumption themes such as trust, security, perceived risk, and sustainability within the banking industry, themes scarcely covered in existing theoretic literature. To that end, the objective of this research is to investigate factors that determine fintech adoption and propose an integrated adoption model. This study aims to establish what the significant drivers of adoption are and develop a conceptual model that integrates technological, behavioral, and environmental constructs by extending the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). It proposes integrating constructs that influence financial consumption themes such as trust, perceived risk, security, financial incentives, micro-investing opportunities, and environmental consciousness to determine the impact of these factors on the adoption and intention to use digital banking apps. The main advantage of this conceptual model is the consolidation of a greater number of predictor variables that can provide a fuller explanation of the consumer's adoption of digital banking Apps. Moderating variables of age, gender, and income are incorporated. To the best of author’s knowledge, this study is the first that extends the UTAUT2 model with this combination of constructs to investigate user’s intention to adopt internet-only digital banking apps in the UK context. By investigating factors that are not included in the existing theories but are highly pertinent to the adoption of internet-only banking services, this research adds to existing knowledge and extends the generalisability of the UTAUT2 in a financial services adoption context. This is something that fills a gap in knowledge, as highlighted to needing further research on UTAUT2 after reviewing the theory in 2016 from its original version of 2003. To achieve the objectives of this study, this research assumes a quantitative research approach to empirically test the hypotheses derived from existing literature and pilot studies to give statistical support to generalise the research findings for further possible applications in theory and practice. This research is explanatory or casual in nature and uses cross-section primary data collected through a survey method. Convenient and purposive sampling using structured self-administered online questionnaires is used for data collection. The proposed model is tested using Structural Equation Modelling (SEM), and the analysis of primary data collected through an online survey is processed using Smart PLS software with a sample size of 386 digital bank users. The results are expected to establish if there are significant relationships between the dependent and independent variables and establish what the most influencing factors are.

Keywords: banking applications, digital banking, financial technology, technology adoption, UTAUT2

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Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

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On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

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Authors: Olga Blasco-Blasco, Vicente Liern

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The development of tourism since the mid-20th century has raised problems of overcrowding, indiscriminate construction in seaside areas and gentrification. Increasingly, the World Tourism Organisation and public institutions are promoting policies that encourage sustainability. From the perspective of sustainability, three types of tourism can be established: traditional tourism, sustainable tourism and sustainable impact tourism. Measuring sustainability is complex due to its multiple dimensions of different relative importance and diversity in nature. In order to try to answer this problem and to identify the benefits of applying policies that promote sustainable tourism, a decision-making analysis will be carried out through the application of a multicriteria analysis method. The proposal is applied to hotel reservations and to the evaluation and management of tourism sustainability in the Spanish Autonomous Communities.

Keywords: sustainable tourism, multicriteria analysis, flexible optimization, composite indicators

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Authors: Farnaz Nazem

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This paper concentrates on the sustainable traditional architecture and urban planning in hot-humid regions of Iran. In a vast country such as Iran with different climatic zones traditional builders have presented series of logical solutions for human comfort. The aim of this paper is to demonstrate traditional architecture in hot-humid climate of Iran as a sample of sustainable architecture. Iranian traditional architecture has been able to response to environmental problems for a long period of time. Its features are based on climatic factors, local construction materials of hot-humid regions and culture. This paper concludes that Iranian traditional architecture can be addressed as a sustainable architecture.

Keywords: hot-humid climate, Iran, sustainable traditional architecture, urban planning

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Authors: Hanna Salminen

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Due to the large societal changes in working life, such as retirement reforms, globalization and technological changes, careers are becoming longer, more varied and unpredictable than before. Similar to other new career concepts, such as protean and boundaryless career, a sustainable career concept emphasizes an individual’s active role and agency in managing his/her own career in changing working life. However, the sustainable career concept also underlines the importance of safeguarding and developing human capital over time and thereby fostering continuity. Especially, the theoretical discussion around sustainable careers stresses flexible career choices that meet an individual’s own personal needs, allow work-family balance and promotes continuous learning. Although sustainable careers concern employees at all ages, this study focuses on older employees (aged 50+). So far, the changing nature of careers has been mainly investigated among younger generations, and the changing and prolonging late career phase has received less attention among career scholars. In other words, there is lack of knowledge regarding what constitutes a sustainable career in the late career phase and how the individual, organizational, and societal levels of sustainable career ecosystem are interconnected. The theoretical discussion around sustainable careers is closely linked to the sustainable management of human resources in organizations. In the field of human resource management (HRM), sustainable HRM has received more attention in recent years and it has been seen as a step forward from strategic HRM approach. As a concept, sustainable HRM stresses the long-term focus on organizations’ social, economic, and ecological resources, and the benefits of HRM practices for employees, organizations, and the society at large. However, some HRM scholars argue that the ecological and financial matters have overshadowed the social aspect of sustainability. In this study, the sustainable career and sustainable HRM literature are combined. As a result of an integrative literature review, this study provides new insight, how sustainable late career phase has been understood and conceptualized in sustainable career and sustainable HRM literature.

Keywords: sustainability, career, human resource management, ageing

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Authors: Gopinath Rathod, Vinod Puranik

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Sustainability is regarded as a key concept for survival in the competitive scenario. Industrial risk and diversification of risk type’s increases with industrial developments. In the context of sustainable manufacturing, the evaluation of risk is difficult because of the incomplete information and multiple indicators. Fuzzy Multiple Attribute Decision Method (FMADM) has been used with a three level hierarchical decision making model to evaluate aggregate risk for sustainable manufacturing projects. A case study has been presented to reflect the risk characteristics in sustainable manufacturing projects.

Keywords: sustainable manufacturing, decision making, aggregate risk, fuzzy logic, fuzzy multiple attribute decision method

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Authors: Zainab Olabisi Tairu

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Strategic partnerships are a core requirement in delivering sustainable tourism for development in developing nations like Papua New Guinea. This paper unveils the strategic partnerships for sustainable tourism development in Papua New Guinea. Much emphasis is made among tourism stakeholders, on the importance of strategic partnership and positioning in developing sustainable tourism development. This paper engages stakeholders’ ecotourism differentiation and power relations in the discussion of the paper through interviews and observations with tourism stakeholders in Papua New Guinea. Collaborative approaches in terms of sustaining the tourism industry, having a milestone of achieved plans, are needed for tourism growth and development. This paper adds a new insight to the body of knowledge on stakeholders’ identification, formation, power relations and an integrated approach to successful tourism development. In order to achieve responsible tourism planning and management outcomes, partnerships must be holistic in perspective and based on sustainable development principles.

Keywords: stakeholders, sustainable tourism, Papua New Guinea, partnerships

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Authors: Faten Fares

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Undoubtedly, the world today faces difficult environmental, financial, and social challenges. In order to change people’s lifestyle to be more sustainable, one must change people’s culture then spaces by focusing on education. Further, the higher education has a key role to play in the move toward a more sustainable world. In the overall analysis, the true sustainable university will make a significant effect. Since the sustainable campus is not only a green built environment, which aims at energy efficiency, water efficiency, waste management, and conserving resources but also it is how to implement green built environment. This implementation takes place while engaging the campus stakeholders (students, academic staff, assistants, workers, and administrators) through educating for sustainability. The main purpose of the research is to develop a tool to assess the sustainable campus and to be a framework for achieving more sustainable campuses. In the case study, the data were analyzed to know existing efforts and capabilities then measure the sustainability performance using the proposal framework at Alexandria University Engineering Campus. Finally, the findings of the research explain that campus is partially adherence with the proposal tool and need to be more sustainable in a formally implemented.

Keywords: sustainability, higher education, sustainable campus, sustainability teaching and research, campus participation culture, environmental improvement

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Authors: Rohollah Asadian Kohestani, Nazanin Sedghi

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As the number of banks and financial institutions working in Iran has been significantly increased, the attracting and retaining customers and encouraging them to continually use the modern banking services have been important and vital issues. Therefore, there would be a serious competition without a deep perception of consumers and fitness of banking services with their needs in the current economic conditions of Iran. It should be noted that concepts such as 'brand equity' is defined based on the view of consumers; however, it is also focused by shareholders, competitors and other beneficiaries of a firm in addition to bank and its consumers. This study examines the impact of brand equity on the competitive advantage in the banking industry as intensive competition between brands of different banks leads to pay more attention to the brands. This research is based on the Aaker’s model examining the impact of four dimensions of brand equity on the competitive advantage of private banks in Behshahr city. Moreover, conducting an applied research and data analysis has been carried out by a descriptive method. Data collection was done using literature review and questionnaire. A 'simple random' methodology was selected for sampling staff of banks while sampling methodology to select consumers of banks was the distribution of questionnaire between staff and consumers of five private banks including Tejarat, Mellat, Refah K., Ghavamin and, Tose’e Ta’avon banks. Results show that there is a significant relationship between brand equity and their competitive advantage. In this research, software of SPSS 16 and LISREL 8.5, as well as different methods of descriptive inferential statistics for analyzing data and test hypotheses, were employed.

Keywords: brand awareness, brand loyalty, brand equity, competitive advantage

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Authors: Julija Konstantinavičienė, Vlada Vitunskienė

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The role of sustainable biomass, including wood biomass, is becoming more important because of European Green Deal. The New EU Forest strategy is a flagship element of the European Green Deal and a key action on the EU biodiversity strategy for 2030. The first measure of this strategy is promoting sustainable forest management, including encouraging the sustainable use of wood-based resources. The first aim of this research was to develop and present a new approach to the concept of forest wood biomass potential in terms of sustainable development, distinguishing theoretical, technical and sustainable potential and detailing its constraints. The second aim was to prepare the methodology outline of sustainable forest wood biomass potential assessment and empirically check this methodology, considering economic, social and ecological constraints. The basic methodologies of the research: the review of research (with a combination of semi-systematic and integrative review methodologies), rapid assessment method and statistical data analysis. The developed methodology of assessment of forest wood potential in terms of sustainable development can be used in Lithuania and in other countries and will let us compare this potential a different time and spatial levels. The application of the methodology will be able to serve the development of new national strategies for the wood sector.

Keywords: assessment, constraints, forest wood biomass, methodology, potential, sustainability

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Authors: Patrick Strefford, Michael Davies, Masahiko Iguchi

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The Sustainable Development Goals (SDGs) were adopted in 2015 to end poverty, protect the planet, and ensure prosperity for all. Sustainable tourism is firmly positioned in these Goals, since tourism has significant potential to contribute to inclusive and sustainable economic growth, as well as to promote sustainable use of natural capital. Recognizing this, the new quasi-democratic government of Myanmar has embraced Sustainable Tourism as a core component of its economic reforms and opening up of the country. However, it is also highly likely that the Democrats within the government also support Sustainable Tourism as a potential contributor to the democratization of the country. This paper outlines how the government of Myanmar has understood the concept of Sustainable Tourism, and how it intends to implement and facilitate Sustainable Tourism. This paper, therefore, focuses primarily on the institutional frameworks that have been put in place, a specific one being the Inlay Lake Destination Management Plan, which is one of the four priority destinations identified by the government. The plan aims to improve local infrastructure, manage the local environment and develop local human resources. Importantly, the Plan also includes the establishment of a Destination Management Organization (DMO) to implement and manage Inlay Lake as a Sustainable Tourism destination. This research aims to investigate, for example, the equality in both input to the DMO and benefits accrued to the various stakeholders. How such equality can be ensured and how this can be reliably quantified will be crucial to ultimately evaluating the success of any such plans to implement Sustainable Tourism in Myanmar in the coming years. However, this research paper concludes that while the establishment of the DMO is a positive development, there are considerable institutional, economic and cultural factors that severely limit the ability of the DMO to function as an agent of sustainable tourism implementation.

Keywords: sustainable tourism, myanmar, country in transition, destination management organizations

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Authors: Marijana Ivanov, Roman Šubić

Abstract:

The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

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Authors: Eric K. W. Aikins

Abstract:

Traditionally, Ghana is a marine fishing country. The fishing industry dominated by artisanal marine fishing helps Ghana to meet its fish and protein requirements. Also, it provides employment for most coastal dwellers that depend on fishing as their main economic enterprise. Nonetheless, the marine fishing industry is confronted with challenges that have contributed to a declining fish production in recent past decade. Bad fishing practices and the general limited knowledge on sustainable management of fisheries resources are the limiting factors that affect sustainable fish production and sustainable marine biodiversity management in Ghana. This paper discusses the challenges and strategies for attaining and maintaining sustainable marine fishing in Ghana as well as the state of marine fishing in Ghana. It concludes that an increase in the level of involvement of local fishers in the management of fisheries resources of the country could help local fishers to employ sustainable fisheries resources exploitation methods that could result in an improvement in the spatio-economic development and wellbeing of affected fishing communities in particular and Ghana in general.

Keywords: pair trawling, sargassum, spatio-economic development, sustainable marine fishing

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Authors: Khaled Asfour

Abstract:

Going for LEED certification is the latest concern in Egyptian practice that only materialized during the last 4 years. Egyptian Consultant Group (ECG) together with Credit Agricole had the vision to design a headquarters (Cairo) that delivers a serious sustainable design. The bank is a strong advocator of “green banking” and supports renewable energy and energy saving projects. Their HQ in Cairo has passed all the hurdles to become the first platinum LEED certificate holder in Egypt. With this design Egyptian practice has finally re-engaged in a serious way with its long-standing traditions in sustainable architecture. Perhaps the closest to our memory is the medieval houses of Cairo. Few centuries later these qualities disappeared with the advent of Modern Movement that focused more on standard modernist image making than real localized quality of living environments. The first person to note this disappearance was Hassan Fathy half a century ago. Despite international applaud for his efforts he had no effect on prevailing local practice that continued senselessly adopting recycled modernist templates. The Egyptian society was not ready to accept any reference to historic architecture. Disciples of Hassan Fathy, few decades later sought, of tackling the lack of interest in green architecture in a different way. Mohamed Awad introduced in his design sustainable ideals inspired from traditional architecture rather than recycling directly historic forms and images. Despite success, this approach did not go far enough to influence the prevailing practice. Since year 2000 Egyptian economy was ebbing and flowing dramatically. This staggering fluctuation coupled by energy crisis has disillusioned architects and clients on the issue of modern image making. No more shining architecture under the sun with high running cost of fossil fuel. They sought of adopting contemporary green measures that offer pleasant living while saving on energy. A revival is on its way but is very slow and timid. The paper will present this problem of reviving sustainable architecture. How this process can be accelerated in order to give stronger impact on current practice will be addressed through the works of Mario Cucinella and Norman Foster.

Keywords: LEED certification, Hasan Fathy, Medieval architecture, Mario Cucinella, Norman Foster

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

Abstract:

Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

Procedia PDF Downloads 70