Search results for: financial distress

Authors: Kwabena Asare, Ezekiel N. N. Nortey, Felix O. Mettle

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Modelling of extreme events has always been of interest in fields such as hydrology and meteorology. However, after the recent global financial crises, appropriate models for modelling of such rare events leading to these crises have become quite essential in the finance and risk management fields. This paper models the extreme values of the Ghana Stock Exchange All-Shares indices (2000-2010) by applying the Extreme Value Theory to fit a model to the tails of the daily stock returns data. A conditional approach of the EVT was preferred and hence an ARMA-GARCH model was fitted to the data to correct for the effects of autocorrelation and conditional heteroscedastic terms present in the returns series, before EVT method was applied. The Peak Over Threshold (POT) approach of the EVT, which fits a Generalized Pareto Distribution (GPD) model to excesses above a certain selected threshold, was employed. Maximum likelihood estimates of the model parameters were obtained and the model’s goodness of fit was assessed graphically using Q-Q, P-P and density plots. The findings indicate that the GPD provides an adequate fit to the data of excesses. The size of the extreme daily Ghanaian stock market movements were then computed using the Value at Risk (VaR) and Expected Shortfall (ES) risk measures at some high quantiles, based on the fitted GPD model.

Keywords: extreme value theory, expected shortfall, generalized pareto distribution, peak over threshold, value at risk

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Authors: Hasan Bulent Kantarci

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This paper examine how Zakat provide a fair income redistribution and struggle with poverty. To provide a fair income redistribution and struggle with poverty take place among the fundamental tasks of all countries. Each country seeks a solution for this problem according to their political, economical and administrative styles through applying various economic and financial policies. The same situation gets handled via zakat association in the Islam. Nowadays, we observe different versions of zakat in developed countries. The applications such as negative income tax denote merely a difference from the zakat being applied almost the same way under changed names. But the minimum values to donate the zakat (e.g. 85 gr. gold and 40 animals) get altered and various amounts are put into practice. It might be named as negative income tax instead of zakat, nonetheless, these applications are based on the Holy Koran and the hadith released 1400 years ago. Besides, considering the savage and slavery in the world at those times, we might easily recognize the true value of the zakat applied the first time then in Islamic system. Through zakat is enabled an income transfer by the government so that the poor could reach the minimum level of life standard. To whom the zakat would be donated was not left to people’s heart and encouraged to determine according to objective criteria. Since the zakat is obligatory, the transfer do not get forward by hand but via the government and get distributed, which requires a vast government organization. Through applying the zakat as it must be would achieve to reduce the poverty mostly and ensuring the fair income redistribution.

Keywords: Islamic finance, zakat, income redistribution, circle of poverty, negatif income tax

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Authors: Sarah Elmammeri

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This paper will represent the postcolonial every day in the journey of asylum seekers through the asylum process in the UK. It represents everyday borders, which are defined as everyday barriers, and obstacles facing asylum seekers and refugees in the host country. These everyday barriers can be legal, financial, social and educational under the umbrella of the racialized administrative border creating a package. The arguments build on a set of 21 semi-structured interviews in English and Arabic. The interviews were conducted in the UK, online via zoom lasting between 25 minutes and 2 hours with asylum seekers, refugees, Non-governmental organisations workers and volunteers. The interviews focus on the meaning of borders both physical and metaphorical and ways to challenge the ongoing postcolonial everyday border practices. The findings conclude that these barriers are there deliberately and intentionally to target asylum seekers and limit their legal right to claim asylum in a form of policy and regulations. People in the asylum process, NGO workers, and refugees relate to this aspect of the everyday borders. Second, these barriers come intertwined together creating a structure that interferes with the daily life of an asylum seeker and later affects people with refugee status creating racialised barriers starting with the structural and official form of it: the asylum process. These structural barriers will be linked forming a multi-level barrier enhancing the racialisation of people who are categorised and selected.

Keywords: everyday borders, asylum policies, inclusion and exclusion, refugees and asylum seekers

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Authors: Mohammad Namazi, Mohammad Sadeghzadeh Maharluie

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Predicting earnings management is vital for the capital market participants, financial analysts and managers. The aim of this research is attempting to respond to this query: Is there a significant difference between the regression model and neural networks’ models in predicting earnings management, and which one leads to a superior prediction of it? In approaching this question, a Linear Regression (LR) model was compared with two neural networks including Multi-Layer Perceptron (MLP), and Generalized Regression Neural Network (GRNN). The population of this study includes 94 listed companies in Tehran Stock Exchange (TSE) market from 2003 to 2011. After the results of all models were acquired, ANOVA was exerted to test the hypotheses. In general, the summary of statistical results showed that the precision of GRNN did not exhibit a significant difference in comparison with MLP. In addition, the mean square error of the MLP and GRNN showed a significant difference with the multi variable LR model. These findings support the notion of nonlinear behavior of the earnings management. Therefore, it is more appropriate for capital market participants to analyze earnings management based upon neural networks techniques, and not to adopt linear regression models.

Keywords: earnings management, generalized linear regression, neural networks multi-layer perceptron, Tehran stock exchange

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Authors: Raiya Kishwar Ashraf

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The National University, the largest public educational institution in Bangladesh, recently made it mandatory for all students to study a course in Bangladesh‘s history of the 1971 Liberation War. This introduction was accompanied by massive political, financial and academic movement that allocated resources towards achieving greater awareness of the country‘s spirit, goals of liberation and patriotism among the youth. This study argues that the infrastructure and political economy around the course heavily politicizes the education system and more specifically the teaching and learning the process. By conducting a qualitative study in three affiliated colleges under the National University, this study aimed to explore the extent to which politicization affected higher education curriculum, especially history education in Bangladesh. The findings revealed significant levels of politicization and structural constraints present in the process that restricts the teacher and student engagement with course materials. The results of this study are useful for curriculum designers and higher education teachers and staffs who wish to develop content and deliver education that promotes critical inquiry among students. The findings further shed light on the importance of identifying and addressing political influences in education curriculum and programme development.

Keywords: Bangladesh higher education, critical thinking, curriculum politicization, history curriculum, National University, teaching-learning method

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Authors: Athena Pedro, Laura Bradfield, Mike Dare, Zandile Bantwana, Ashley Nayman

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The purpose of the research was to explore mother’s unique experience and knowledge of mothering in the first 1000 day of their child’s life, from birth to age 2. The study used a qualitative research methodology with an exploratory research design. A sample of 12 mothers was used, comprising different racial backgrounds from low income areas in the Western Cape. The data was collected by means of semi-structured, in-depth interviews, which were transcribed verbatim, analysed using Braun’s and Clark’s (2006) six phases of thematic analysis. Some of the findings revealed that the mothers who participated in the study were consistently unable to feed their children and themselves due to profound and extreme situations of poverty, stress, and lack of infrastructural support. These mothers residing in low-income communities are not adequately supported both financially and socially and are often unable to meet the needs of their infants within the first 1000 days. Given the consequential nature of this period, it is imperative that mothers are able to access such support. Single mothers especially are in need of social and financial support. Appropriate interventions are required to assist mothers generally but more specifically, mothers who have children within the first 1000 days of life. By implementing appropriate interventions to address these needs, it will assist mothers to ensure optimal developmental growth of their children. This will positively impact the developmental trajectory of children in South Africa.

Keywords: caring, economic hardship, first one thousand days, mothers

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Authors: Jolanta Brodowska-Szewczuk

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The article includes the results and conclusions from empirical researches that had been done. The research focuses on the impact of investments made in small and medium-sized enterprises financed from EU funds on the competitiveness of these companies. The researches includes financial results in sales revenue and net income, expenses, and many other new products/services on offer, higher quality products and services, more modern methods of production, innovation in management processes, increase in the number of customers, increase in market share, increase in profitability of production and provision of services. The main conclusions are that, companies with direct investments under this measure shall apply the modern methods of production. The consequence of this is to increase the quality of our products and services. Furthermore, both small and medium-sized enterprises have introduced new products and services. Investments were carried out, thus enabling better work organization in enterprises. Entrepreneurs would guarantee higher quality of service, which would result in better relationships with their customers, what is more, noting the rise in number of clients. More than half of the companies indicated that the investments contributed to the increase in market share. Same thing as for market reach and brand recognition of particular company. An interesting finding is that, investments in small enterprises were more effective than medium-sized enterprises.

Keywords: competitiveness, efficiency, EU funds, small and medium-sized enterprises

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Authors: K. W. A. M. Kokila, Matsui Kenichi

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Sri Lanka’s disaster management policy aims to protect lives and developments in disaster affected areas by effectively using resources for disaster risk reduction, emergency management, and community awareness. However, funding for these action programs has posed a serious challenge to the country’s economy. This paper examines the extent to which private-public partnerships (PPPs) can facilitate and expedite disaster management works. In particular, it discusses the results of the questionnaire survey among policymakers, government administrators, NGOs, and private businesses. This questionnaire was conducted in 2017. All respondents were selected based on their experience in PPP projects in the past. The survey focused on clarifying the effectiveness of past PPP projects as well as their efficiency and transparency. The respondents also provided their own opinions and suggestions to improve the future PPP projects in Sri Lanka. The questionnaire was distributed to fifteen persons. The results show that almost all respondents think that PPP projects are beneficial and important for future disaster risk management in Sri Lanka. The respondents, however, showed some reservation about effectiveness and transparency of the PPP process. This paper also discusses the results on the respondents’ perceptions about their capacity regarding human resources and management. This paper, overall, sheds light on technological, financial and human resource management practices in developed countries as well as policy and legislation provisions regarding PPP projects.

Keywords: disaster management, policy, private public partnership, projects

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Authors: Ebtissem Sassi, Abdellatif Benabdelhafid, Sami Hammami

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Congestion, pollution and space misuse are the major risks in the hinterland. Management of these risks is a major issue for all the actors intervening in territory management. A good mastery of these risks is based on the consideration of environmental and physical constraints since the implementation of a policy integrates simultaneously an efficient use, territorial resources, and financial resources which become increasingly rare. Yet, this balance can be difficult to establish simultaneously by all the actors. Indeed, every actor has often the tendency to favor these objectives in detriment to others. In this framework, we have fixed the objective of designing and achieving a model which will centralize multidisciplinary data and serve the analysis tool as well as a decision support tool. In this article, we will elaborate some methodological axes allowing the good management of the territory system through (i) determination of the structural factors of the decision support system, (ii) integration of methods tools favoring the territorial decisional process. Logistics territory geographic information system is a model dealing with this issue. The objective of this model is to facilitate the exchanges between the actors around a common question which was the research subject of human sciences researchers (geography, economy), nature sciences (ecology) as well as finding an optimal solution for simultaneous responses to all these objectives.

Keywords: complexity, territory, logistics, territory planning, conceptual model, GIS, MCA

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Authors: Dragana Bubulj

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The Former Republic of Yugoslavia was a sort of protective umbrella, a unique concept of gathering different ethnical, cultural, and religious identities, as well as diverse intersections of those. After 43-months long civil war and states disintegration in 1995, which resulted in 5 post-Yugoslav countries, Yugoslav Diaspora experienced radical changes. In Germany, one of the countries with the highest percentage of Yugoslav emigration, segregation on ethno-national grounds was empowered by the outbreak of the conflict: firstly on a socio-cultural level, and followed by changes on the level of institutional organizing. Psycho-emotional and financial involvement of Diaspora into the war is also not to be neglected. People of Serbian origin have been additionally overstrained with the designation of Serbs as war criminals in German media and the public sphere. In this way, the path from 'being a Yugoslav' toward 'becoming a Serb', outside nowadays Serbia, has been qualitatively different in comparison to potential identity shiftings experienced by other members of Former Yugoslav population. This paper is part of an ongoing PhD research and tackles biographical narratives of academics of Serbian origin in one German region. Paper addresses processes of post-Yugoslav identity negotiations in Diaspora settings, nationalistic tendentious among second generation youth, and discusses - based on NS-references founded in collected data - question of historicity of biographies.

Keywords: biography, diaspora, ethnography, former republic of Yugoslavia, identity

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Authors: Habib Ahmadi, Mohamad Ali Ameri

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In this research, the perception and understanding of police officers about the value of higher education have been investigated. A qualitative research approach and phenomenological method were used, and in data analysis, the Claizi method was used. In this research, 17 people with different degrees and occupations were selected by purposive sampling method until saturation and were investigated using a semi-structured interview tool. After the data was collected, recorded, and coded in the Atlas T software, it was formulated in the form of main categories and concepts. The general views of police officers participating in this research show the importance of university education in police jobs(76%). The analysis of participants' experiences led to the identification of seven main categories of the value and role of higher education, including; 1- Improvement of behavior and social skills, 2- Opportunities to improve and improve job performance, 3- Professionalization of police work, 4- Financial motivation, 5- People's satisfaction with police services, 6- Improvement of writing and technical skills Statement, 7- Raising the level of expectation and expectations was misplaced (negative perception). The findings of this study support the positive attitude and professionalism of the educated police. Therefore, considering the change of paradigm in society as well as the change of technologies, more complex organizational designs, and the perception of police officers, it is concluded that the police field needs officers with higher education to enable them to understand the new global environment.

Keywords: lived experience, higher education, police professionalization, perceptions of police officers

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Authors: Serges Djoyou Kamga, Gerard Emmanuel Kamdem Kamga

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Any serious constitutionalism entails a system of government characterised by the separation of powers between the executive, the legislature, and the judiciary. The latter is generally in charge of upholding the rule of law and the respect for human rights which are vital for the functioning of any democracy. Therefore, for the judiciary to play its role as a watchdog, it should be independent from other branches of government. The aim of this paper is to examine the independence of the judiciary in South Africa after 20 of democracy. Defining judicial independence as the courts’ ability ‘to decide cases on the basis of established law and the merits of the case, without interference from other political or governmental agents’, the paper examines the extent to which the South African judiciary is independent after twenty years of democracy. As part of assessing the independence of the judiciary, the paper begins by looking at the situation during apartheid, then proceeds with an examination of the post-apartheid legal order. It also examines the institutional independence of the judiciary by looking into its day to day activities which revolve around its self-governance, or administrative and financial independence. In addition, the paper assesses the judges’ individual independence by examining whether judicial appointment, security of tenure, judges’ remuneration and disciplinary actions and the removal of judges from office do not contain loopholes that can hinder judicial independence. Ultimately, the chapter argues that although the South African model of judicial independence is yet to be perfect, it is a good practice that can be emulated by other African countries.

Keywords: judical independence, South Africa, democracy, separation of powers

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Authors: Rabiaal Adawiyah Shazali, Corina Joseph

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The disclosure of Intellectual Capital (IC) information is getting more vital in today’s era of a knowledge-based economy. Companies are advised by accounting bodies to enhance IC disclosure which complements the conventional financial disclosures. There are no accounting standards for Intellectual Capital Disclosure (ICD), therefore the disclosure is entirely voluntary. Hence, this study aims to investigate the extent of ICD and to examine the relationship between corporate governance and ICD in Malaysia. This study employed content analysis of 100 annual reports by the top 100 public listed companies in Malaysia during 2012. The uniqueness of this study lies on its underpinning theory used where it applies the institutional isomorphism theory to support the effect of the attributes of corporate governance towards ICD. In order to achieve the stated objective, multiple regression analysis were employed to conduct this study. From the descriptive statistics, it was concluded that public listed companies in Malaysia have increased their awareness towards the importance of ICD. Furthermore, results from the multiple regression analysis confirmed that corporate governance affects the company’s ICD where the frequency of audit committee meetings and the board size has positively influenced the level of ICD in companies. Findings from this study would provide an incentive for companies in Malaysia to enhance the disclosure of IC. In addition, this study would assist Bursa Malaysia and other regulatory bodies to come up with a proper guideline for the disclosure of IC.

Keywords: annual report, content analysis, corporate governance, intellectual capital disclosure

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Authors: Haowen Xi

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We propose and solve exactly a class of non-linear generalization of the Black-Scholes process of stochastic differential equations describing price bubble and crashes dynamics. As a result of nonlinear positive feedback, the faster-than-exponential price positive growth (bubble forming) and negative price growth (crash forming) are found to be the power-law finite-time singularity in which bubbles and crashes price formation ending at finite critical time tc. While most literature on the market bubble and crash process focuses on the nonlinear positive feedback mechanism aspect, very few studies concern the noise level on the same process. The present work adds to the market bubble and crashes literature by studying the external sources noise influence on the critical time tc of the bubble forming and crashes forming. Two main results will be discussed: (1) the analytical expression of expected value of the critical time is found and unexpected critical slowing down due to the coupling external noise is predicted; (2) numerical simulations of the nonlinear stochastic equation is presented, and the probability distribution of Prob(tc) is found to be the inverse gamma function.

Keywords: bubble, crash, finite-time-singular, numerical simulation, price dynamics, stochastic differential equations

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Authors: Husni Mohd Radzi, Lilie Zahara Ramly, Sapora Sipon, Salhah Abdullah

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Malaysia have been experiencing series of huge floods all around the country for the past decades despide planned development done by local authorities. The floods incurred due to factors like natural climate change or man-made disaster. Floods have caused a lot of damages, destructions and losses in term of infrastructure, financial implications and physical health. However, other damaging aspect was not being given much attention are the psychological need of the flood victim. The traumatic impact from the natural disaster like floods may cause serious psychological and spiritual deterioration. Many flood relief shelters in the past did not provide counseling services for flood victims to consult, and as a result, it contributes to added stress among the flood victims, as the issue were not being addressed. Some studies indicates that flood victims did not look for counseling service being offered. A total of 257 flood victim was involved in this study. Main area of the study was Kg Bukit Changgang, Kg. Rancangan Tanah Belia, Kg. Labohan Dagang and Kg.Olak Lempit in Kuala Langat, Selangor. The flood victims have responded to the survey given and the data was analyze using SPSS for descriptive information and other measures. At least 13 victims were reported to have experienced moderate to severe level of stress and anxiety over the flood disaster incidents and a total of 88 respondents admitted to have at least thought and consider getting counseling service.

Keywords: perception, acceptance towards counseling, counseling service for flood victim, disaster

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Authors: Achmad Muchaddam Fahham, Sony Hendra Permana

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For rural communities and micro-entrepreneurs, access to formal financial institutions is very difficult. So, borrowing to moneylenders is the most possible way to fulfill their needs. But actually it does not solve their problems, precisely their problems are increasing because they have to pay at very high-interest rates. For this reason, microfinance institution is very important as a solution for rural communities and micro-entrepreneurs who need loans to fulfill their needs. This paper aims to describe the role of micro waqf banks in Indonesia as an alternative funding for rural communities and micro-entrepreneurs. This research is descriptive using a qualitative approach. The interview technique was also carried out with key informants who understood sharia microfinance institutions. The results of the study revealed that the micro waqf bank is Islamic microfinance institutions which targeted the micro business sector by channeling small financing with a maximum financing of Rp1 million. The funding of this micro waqf bank comes from donors who donate funds through the Amil Zakat institution. The margins imposed on borrowers are as high as 3 percent per year, with payment schemes in installments every week, so it is made easier for borrower. In addition, financing is followed by training and mentoring so that borrower is able to utilize the loan for productive business activities. In the end, it is hoped that this micro waqf bank can become an incubator for micro businesses in Indonesia.

Keywords: micro business, micro waqf banks, micro-entrepreneurs, Amil Zakat institution

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Authors: I. Diaz Sanchez, I. M. Martinez-Conesa, M. Illueca

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Accounting conservatism is a desirable quality of earnings that is positively associated with the stridency of regulatory and supervisory regimen and high market discipline. But how these three pillars interact each other is the main research question that is not empirically solved. We analyze how regulatory and supervisory regimes interact with the market discipline measures, such as listing status, ownership and market concentration using a sample of 14,651 bank-year observations covering 54 countries over the period 1997-2009. We evidence that regulation a supervision and extend on which they are enforcement is a strong mechanism to achieved accounting conservatism in those countries or situations where the market discipline fails. Generally, the supervisory power reinforces the effect of listing status, ownership and concentration on conservatism, while capital regulatory mitigates the effect of market discipline on conservatism. This paper may contribute to debate about the mechanism introduced by Basel III that strongly increases the regulation, his enforcement, and the supervisory power after long deregulation period. Although Market discipline is relevant to achieve the financial stability, strong Pillar I and II can ensure the quality of the accounting earnings to prevent bank failures.

Keywords: accounting conservatism, bank regulation, bank supervision, loan loss recognition, market discipline

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Authors: Siti Azrina B. A. Aziz, Siti Hafizah A. Hamid

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New approaches to analyze and visualize data stream in real-time basis is important in making a prompt decision by the decision maker. Financial market trading and surveillance, large-scale emergency response and crowd control are some example scenarios that require real-time analytic and data visualization. This situation has led to the development of techniques and tools that support humans in analyzing the source data. With the emergence of Big Data and social media, new techniques and tools are required in order to process the streaming data. Today, ranges of tools which implement some of these functionalities are available. In this paper, we present chronological evolution evaluation of technologies for supporting of real-time analytic and visualization of the data stream. Based on the past research papers published from 2002 to 2014, we gathered the general information, main techniques, challenges and open issues. The techniques for streaming text visualization are identified based on Text Visualization Browser in chronological order. This paper aims to review the evolution of streaming text visualization techniques and tools, as well as to discuss the problems and challenges for each of identified tools.

Keywords: information visualization, visual analytics, text mining, visual text analytics tools, big data visualization

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Authors: Nancy Ayman Kamal Mohamed Mehrz

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Like the economies of other countries in the Mediterranean region, the tourism sector in our country has excellent economic prospects. Tourism companies are building tourism, a sector that faces various challenges in its activities. These problems have made business activities and competition between companies difficult. In this study, which was conducted to identify the problems of the tourism sector in the Central Anatolia region, most of the problems faced by the tourism sector and consumer information on consumer rights were used. The aim is to contribute to the awareness of workers and managers working in the tourism sector and to attract the attention of companies and legislators working in the tourism sector. E-tourism is one of the newest issues in the field of tourism. Infrastructure and Information Technology (or ICT) and partner government and tourism organizations are required to achieve this type of tourism. This study measures the views of managers and tourism managers in Leman City regarding e-tourism; In addition, the effect of the literacy level of the tourism management system on tourist attractions was also examined. This research has been carried out. One of the suburbs of Isfahan province. This research is a documentary research and source material that includes literature and surveys. The results obtained show that if managers use ICT, it can help the development of e-tourism in the region, and increasing managers' views about e-tourism and improving their literacy levels can affect the development of tourism.

Keywords: financial problems, the problems of tourism businesses, tourism businesses, internet, marketing, tourism, tourism management economic competitiveness, enhancing competitiveness

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Authors: R. A. C. K. Gunathilaka, P. T. D. Peiris, O. S. M. Jayawardane, S. M. A. I. Kulathunga

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Waste management is one of the predominant aspects of resource utilization and sustainability. The absence of a proper waste management system may lead to adverse troubles and catastrophic tragedies ultimately. Sri Lanka has faced different predicaments for a long time due to the unavailability of a systematic manner in the waste management process. The main objective of this research is to design an efficient waste management system for an urban area in Sri Lanka. The research was dispersed into three categories as biodegradable, non-biodegradable, and hazardous waste. Different waste materials were researched for each category by probing the entire process from the beginning to final disposal for perceiving the prevailing problems in the waste management system. The distinctive segment of this research is comparing efficient foreign waste management strategies with efficacious approaches on increasing public commitment to uncovering cognizable ways of implementing such a system in the Sri Lankan context. Waste management systems in Singapore, Japan, Malaysia, USA, Maldives, and China incorporated their exemplary plan of action on tackling the waste problem in diverse sectors were studied. Ultimately, three coherent models were proposed for each category pertaining to the concepts of circular economy and lean manufacturing from the inception to the final disposal of the waste. This research also includes concealed financial opportunities regarding waste management.

Keywords: circular economy, efficient waste management system, lean manufacturing, sustainability, urban area

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Authors: Silvia Rahmita

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Entrepreneurial success is crucial for economic growth, competitiveness, and job creation, yet many entrepreneurs face failure due to various challenges. This paper explores the critical role of strategic thinking in mitigating entrepreneurial failure. Entrepreneurial competencies—encompassing knowledge, skills, and traits—are essential for creating and growing ventures. Despite these competencies, numerous entrepreneurs fail due to poor management, inadequate support, and ineffective policies. The paper categorizes entrepreneurial failures into financial, operational, market, product or service, strategic, leadership, legal, human capital, technological, and environmental failures. Each failure type can be addressed through strategic thinking, which involves foresight, balancing short-term and long-term goals, and hypothesis-driven processes. By integrating strategic thinking into their approach, entrepreneurs can enhance risk management, adapt to market changes, and sustain growth. This process involves setting clear goals, innovating products, and maintaining a competitive edge. Ultimately, strategic thinking provides a framework for proactive planning, adaptation, and continuous improvement, reducing the likelihood of failure and ensuring long-term success. Entrepreneurs who prioritize strategic thinking are better equipped to navigate the complexities of the business environment and achieve sustainable growth.

Keywords: entrepreneurial failure, strategic thinking, risk management, business failure

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Authors: Katanku Denis Musoga

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Eat Right Campaign is an initiative that was started by the Nutrition Unit of Uganda Heart Institute with the objective of informing corporate workers in both the Government and Private sectors about how to eat to prevent Hypertension. In Uganda, according to the recent research undertaken by the Ministry of Health, 1 out of 4 adults is hypertensive and yet over 80% of those are not aware. This is attributed largely to poor eating habits influenced by a lack of knowledge. The major objective of the campaign was to demonstrate the need for effective strategic communication among the corporates by organizing workshops that involved dietary education, food demonstrations, and food preparation in an effort to prevent Hypertension. Permission from various Organizations was sought to carry out sensitization and health education while highlighting the significance of reducing financial losses to health care. The Campaign provided strategies for how to influence positive dietary changes. It involved screening for risk factors. A Pretest was given to the staff to ascertain their knowledge of how to eat right to prevent hypertension, and thereafter the campaign, a post-test was given to the same staff. This was done in all the 10 Organizations that we carried out the campaign. Over 80% of the staff had learned significantly and promised to practice what they had learned; also, the majority who had a higher Blood pressure measurement prior to the campaign returned with significantly lower blood pressure. Food demonstrations, preparations, and regular dietary education should be woven into the entire clinical and Public Health practice.

Keywords: eat right campaign initiative, corporates, prevent hypertension, dietary education

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Authors: Shaker Aladwan, Paul Forrester

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This paper explores the challenges that face leaders when implementing business excellence programmes in the Jordanian public sector. The study adopted a content analysis approach to analyse the excellence assessment reports that have been produced by the King Abdullah II Centre for Excellence (KACE). The sample comprises ten public organisations which have participated in the King Abdullah Award for Excellence (KAA) more than once and acknowledge in their reports that they have failed to achieve satisfactory results. The key challenges to the implementation of leadership criteria in the public sector in Jordan were found to be poor strategic planning, lack of employee empowerment, weaknesses in benchmarking performance, a lack of financial resources, poor integration and coordination, and poor measurement system: This study proposes a conceptual model for the as assessment of challenges that face managers when seeking to implement excellence in leadership in the Jordanian public sector. Theoretically, this paper fills context gaps in the excellence literature in general and organisational excellence in the public sector in particular. Leadership challenges in the public sector are generally widely studied, but it is important to gain a better understanding of how these challenges can be overcome. In comparison to many existing studies, this research has provided specific and detailed insights these organisational excellence challenges in the public sector and provides a conceptual model for use by other researchers into the future.

Keywords: leadership criterion, organisational excellence, challenges, quality awards, public sector, Jordan

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Authors: Elena Bellini, Daniele Mugnaini, Michele Boschetto

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People with an Autistic Spectrum Disorder and an Intellectual Disability who need to attend a Hospital Emergency Waiting Room frequently present high levels of discomfort and challenging behaviors due to stress-related hyperarousal, sensory sensitivity, novelty-anxiety, communication and self-regulation difficulties. Increased agitation and acting out also disturb the diagnostic and therapeutic processes, and the emergency room climate. Architectural design disciplines aimed at reducing distress in hospitals or creating autism-friendly environments are called for to find effective answers to this particular need. A growing number of researchers are considering the physical environment as an important point of intervention for people with autism. It has been shown that providing the right setting can help enhance confidence and self-esteem and can have a profound impact on their health and wellbeing. Environmental psychology has evaluated the perceived quality of care, looking at the design of hospital rooms, paths and circulation, waiting rooms, services and devices. Furthermore, many studies have investigated the influence of the hospital environment on patients, in terms of stress-reduction and therapeutic intervention’ speed, but also on health professionals and their work. Several services around the world are organizing autism-friendly hospital environments which involve the architecture and the specific staff training. In Italy, the association Spes contra spem has promoted and published, in 2013, the ‘Chart of disabled people in the hospital’. It stipulates that disabled people should have equal rights to accessible and high-quality care. There are a few Italian examples of therapeutic programmes for autistic people as the Dama project in Milan and the recent experience of Children and Autism Foundation in Pordenone. Careggi’s Emergency Waiting Room in Florence has been built to satisfy this challenge. This project of research comes from a collaboration between the technical staff of Careggi Hospital, the Center for autism PAMAPI and some architects expert in the sensory environment. The methodology of focus group involved architects, psychologists and professionals through a transdisciplinary research, centered on the links between the spatial characteristics and clinical state of people with ASD. The relationship between architectural space and quality of life is studied to pay maximum attention to users’ needs and to support the medical staff in their work by a specific program of training. The result of this research is a sum of criteria used to design the emergency waiting room, that will be illustrated. A protected room, with a clear space design, maximizes comprehension and predictability. The multisensory environment is thought to help sensory integration and relaxation. Visual communication through Ipad allows an anticipated understanding of medical procedures, and a specific technological system supports requests, choices and self-determination in order to fit sensory stimulation to personal preferences, especially for hypo and hypersensitive people. All these characteristics should ensure a better regulation of the arousal, less behavior problems, improving treatment accessibility, safety, and effectiveness. First results about patient-satisfaction levels will be presented.

Keywords: accessibility of care, autism-friendly architecture, personalized therapeutic process, sensory environment

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Authors: Abdul Aziz Abdullah, Anuar Alias, Khor Hooi Ting, Guan Ngah Mei

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One of the major sectors which contribute significant growth to socio-economic development is the construction and development industry. This industry is most badly hurt during the 1997 and 2008 economic crisis thus causing many government and private projects to be deferred and abandoned. The purpose of this study is to examine the causes and effects of housing project abandonment in Malaysia. This objective is achieved through rigorous review of literatures and documents related to housing and abandoned housing project. The finding revealed there are several causes of housing project abandonment. The significant causes are: economic recession, inadequacy of finance, poor marketing and sales strategies, technical problems faced during construction, problems caused by compensations demanded by squatters for resettlement, insolvency of contractor, cost overrun and currency fluctuation amongst others. However the alarming effect of housing project is: house buyers of abandoned project have the monthly payment although the house is delivered to house buy. In other case house buyers have to entangle in many legal action with the financial institution. This finding provides the various ministries in the Government some insights on real causes and effects of abandoned project. Perhaps this finding can enhance the current solution the Ministry of Housing Local Government on addressing the prevailing issue of reviving existing abandoned project in the country.

Keywords: abandoned project, abandonment, housing project, ministry of housing and local government, causes and effect

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Authors: Valean Maria

Abstract:

Construction and demolition waste management is a timely topic, due to the urgency of its transition to sustainability. This sector is responsible for over a third of the waste generated in the E.U., while the legislation requires a proportion of at least 70% preparation for reuse and recycle, excluding backfilling. To this end, the E.U. Commission has provided the Level(s) methodology, allowing for the standardized planning and reporting of waste quantities across all levels of the construction process, from the architecture, to the demolition, from the estimation stage, to the actual measurements at the end of the operations. We applied Level(s) for the first time to the Romanian context, a developing E.U. country in which illegal dumping of contruction waste in nature and landfills, are still common practice. We performed the desk study of the buildings’ documents, followed by field studies of the sites, and finally the insertion and calculation of statistical data of the construction and demolition waste. We learned that Romania is far from the E.U. average in terms of the initial estimations of waste, with some numbers being higher, others lower, and that the price of evacuation to landfills is significantly lower in the developing country, a possible barrier to adopting the new regulations. Finally, we found that concrete is the predominant type waste, in terms of quantity as well as cost of disposal. Further directions of research are provided, such as mapping out all of the alternative facilities in the region and the calculation of the financial costs and of the CO2 footprint, for preparing and delivering waste sustainably, for a more sound and locally adapted model of waste management.

Keywords: construction, waste, management, levels, EU

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Authors: Muhammad Faizan Butt, Maria Ambreen Tahir, Joshua James Pilkington, A. A. Warsi

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Background: Total parenteral nutrition (TPN) use within the NHS is crucial in the prevention of malnourishment. TPN prescriptions are tailored to an individual patient’s needs. TPN bags come in fixed sizes, and minimizing wastage has financial and sustainability implications for the health service. The aim of the study is to assess current prescribing practices, look at the volume of TPN wastage and identify reasons for it. Methodology: A retrospective cohort study on TPN prescriptions over a period of 1 year (Jan-Dec 2022) was performed. All patients prescribed TPN that had been admitted under a general surgery consultant in a small district hospital were included. Data were extracted from hospital electronic records and dietician charts. Data were described, and reasons for TPN wastage were explored. Results: 49 patients were identified. The average length of TPN prescription was 8 days (median). This totaled 608 prescriptions. Of the bags prescribed, 258, 169, and 181 were 10g (2500ml), 14g (2000ml), and 18g (2000ml), respectively. The mean volume wasted from each type of bag was 634ml, 634ml, and 648ml, respectively. Reasons for TPN wastage identified were: no loss (25%), smaller bags not available (53.6%), step-down regime (8.1%), and other (12.2%). Conclusion: This study has identified that the current stocking and prescribing of TPN within a district general hospital leads to a significant wastage of 638.2ml (average). The commonest reason for wastage is the non-availability of a more appropriate sized bag.

Keywords: general surgery, TPN, sustainability, wastage

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Authors: Pavak Vyas, Hiral Vyas

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Spin-offs commonly known as demergers in India, represents dismantling of conglomerates which is a common phenomenon in financial markets across the world. Demergers are carried out with different motives. A demerger generally refers to a corporate restructuring where, a large company divests its stake in in its subsidiary and distributes the shares of the subsidiary - demerged entity to the existing shareholders without any consideration. Demergers in Indian companies are over a decade old phenomena, with many companies opting for the same. This study examines the demerger regulations in Indian capital markets and the announcement period price reaction of demergers during year 2010-2015. We study total 97 demerger announcements by companies listed in India and try to establish that demergers results into abnormal returns for the shareholders of the parent company. Using event study methodology we have analyzed the security price performance of the announcement day effect 10 days prior to announcement to 10 days post demerger announcement. We find significant out-performance of the security over the benchmark index post demerger announcements. The cumulative average abnormal returns range from 3.71% on the day of announcement of a private demerger to 2.08% following 10 days surrounding the announcement, and cumulative average abnormal returns range from 5.67% on the day of announcement of a public demerger to 4.15% following10 days surrounding the announcement.

Keywords: demergers, event study, spin offs, stock returns

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Authors: Xinyuan Y. Song, Kai Kang

Abstract:

Joint models for analyzing longitudinal and survival data are widely used to investigate the relationship between a failure time process and time-variant predictors. A common assumption in conventional joint models in the survival analysis literature is that all predictors are observable. However, this assumption may not always be supported because unobservable traits, namely, latent variables, which are indirectly observable and should be measured through multiple observed variables, are commonly encountered in the medical, behavioral, and financial research settings. In this study, a joint modeling approach to deal with this feature is proposed. The proposed model comprises three parts. The first part is a dynamic factor analysis model for characterizing latent variables through multiple observed indicators over time. The second part is a random coefficient trajectory model for describing the individual trajectories of latent variables. The third part is a proportional hazard model for examining the effects of time-invariant predictors and the longitudinal trajectories of time-variant latent risk factors on hazards of interest. A Bayesian approach coupled with a Markov chain Monte Carlo algorithm to perform statistical inference. An application of the proposed joint model to a study on the Alzheimer's disease neuroimaging Initiative is presented.

Keywords: Bayesian analysis, joint model, longitudinal data, time-to-event data

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Authors: Tugba Altin

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In a time characterized by escalating climate change impacts, communities globally face extreme events with deep-reaching tangible and intangible consequences. At the intersection of these phenomena lies the profound impact on the cultural and emotional connections that individuals forge with their environments. This study casts a spotlight on the Lytton Creek Fire of 2021, showcasing it as an exemplar of both the visible destruction brought by such events and the more covert yet deeply impactful disturbances to place attachment (PA). Defined as the emotional and cognitive bond individuals form with their surroundings, PA is critical in comprehending how such catastrophic events reshape cultural identity and the bond with the land. Against the stark backdrop of the Lytton Creek Fire's devastation, the research seeks to unpack the multilayered dynamics of PA amidst the tangible wreckage and the intangible repercussions such as emotional distress and disrupted cultural landscapes. Delving deeper, it examines how affected populations renegotiate their affiliations with these drastically altered environments, grappling with both the tangible loss of their homes and the intangible challenges to solace, identity, and community cohesion. This exploration is instrumental in the broader climate change narrative, as it offers crucial insights into how these personal-place relationships can influence and shape climate adaptation and recovery strategies. Departing from traditional data collection methodologies, this study adopts an interpretive phenomenological approach enriched by hermeneutic insights and places the experiences of the Lytton community and its co-researchers at its core. Instead of conventional interviews, innovative methods like walking audio sessions and photo elicitation are employed. These techniques allow participants to immerse themselves back into the environment, reviving and voicing their memories and emotions in real-time. Walking audio captures reflections on spatial narratives after the trauma, whereas photo voices encapsulate the intangible emotions, presenting a visual representation of place-based experiences. Key findings emphasize the indispensability of addressing both the tangible and intangible traumas in community recovery efforts post-disaster. The profound changes to the cultural landscape and the subsequent shifts in PA underscore the need for holistic, culturally attuned, and emotionally insightful adaptation strategies. These strategies, rooted in the lived experiences and testimonies of the affected individuals, promise more resonant and effective recovery efforts. The research further contributes to climate change discourse, highlighting the intertwined pathways of tangible reconstruction and the essentiality of emotional and cultural rejuvenation. Furthermore, the use of participatory methodologies in this inquiry challenges traditional research paradigms, pointing to potential evolutionary shifts in qualitative research norms. Ultimately, this study underscores the need for a more integrative approach in addressing the aftermath of environmental disasters, ensuring that both physical and emotional rebuilding are given equal emphasis.

Keywords: place attachment, community recovery, disaster reponse, sensory responses, intangible traumas, visual methodologies

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