Search results for: financial institution

Authors: Elmamy Ahmedsalem

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The world has witnessed the collapse of many corporate giants as a result of unethical behavior in recent decades. This has induced a series of questions by the global community on why such occurrences could happen, even with corporate governance in place. This paper attempts to propose a philosophical approach from an Islamic perspective to be consolidated with current corporate governance in order to confront contemporary dilemmas. In this paper, ethical theories are presented as a discussion followed by their applications to modern cases of financial collapses. Virtue ethics by Aristotle, justice and fairness by John Rawls, deontology by Immanuel Kant, and utilitarianism by John Stuart Mill, are the four theories which can then be contrasted with the paradigm of Muslim scholars. Despite the differences between the fundamental principles of Islamic and Western worldviews, their ethical theories are aimed at making right decisions and solving ethical dilemmas based on what is good for society. Therefore, Islamic principles should be synthesized with Western philosophy to form a more coherent framework. The integration of Islamic and western ethical theories into business is important for sound corporate governance.

Keywords: business ethics, Islamic philosophy, western philosophy, Western and Islamic worldview of ethics

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Authors: Mukondi Esther Nethavhakone

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In 2020 World Health Organization announced the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), also known as Coronavirus disease 2019 (COVID-19) pandemic. To curb or contain the spread of the novel coronavirus (COVID 19), global governments implemented social distancing and lockdown regulations. Subsequently, it was no longer business as per usual, life as we knew it had changed, and so many aspects of people's lives were negatively affected, including financial and employment stability. Mainly, because companies/businesses had to put their operations on hold, some had to shut down completely, resulting in the loss of income for many people globally. Finances and employment insecurities are some of the issues that exacerbated many social issues that the world was already faced with, such as school drop-outs, teenage pregnancies, sexual assaults, gender-based violence, crime, child abuse, elderly abuse, to name a few. Expectedly the majority of the population's mental health state was threatened. This resulted in an increased number of people seeking mental healthcare services. The increasing need for mental healthcare services in Low and Middle-income countries proves to be a challenge because it is a well-known fact due to financial constraints and not well-established healthcare systems, mental healthcare provision is not as prioritised as the primary healthcare in these countries. It is against this backdrop that the researcher seeks to find viable, cost-effective, and accessible mental health solutions for low and middle-income countries amid the pressures of any pandemic. The researcher will undertake a systematic review of the technology-based mental health solutions that have been implemented/adopted by developed countries during COVID 19 lockdown and social distancing periods. This systematic review study aims to determine if low and middle-income countries can adopt the cost-effective version of digital mental health solutions for the healthcare system to adequately provide mental healthcare services during critical times such as pandemics (when there's an overwhelming diminish in mental health globally). The researcher will undertake a systematic review study through mixed methods. It will adhere to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. The mixed-methods uses findings from both qualitative and quantitative studies in one review study. It will be beneficial to conduct this kind of study using mixed methods because it is a public health topic that involves social interventions and it is not purely based on medical interventions. Therefore, the meta-ethnographic (qualitative data) analysis will be crucial in understanding why and which digital methods work and for whom does it work, rather than only the meta-analysis (quantitative data) providing what digital mental health methods works. The data collection process will be extensive, involving the development of a database, table of summary of evidence/findings, and quality assessment process lastly, The researcher will ensure that ethical procedures are followed and adhered to, ensuring that sensitive data is protected and the study doesn't pose any harm to the participants.

Keywords: digital, mental health, covid, low and middle-income countries

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Authors: Ihugba Okezie A., Oguzie Emeka E.

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Nigeria's renewable energy market is expanding due to increased environmental awareness, supportive government policies, and the need for energy diversification. This paper examines the role of solar batteries in enhancing Nigeria's energy security. With growing energy demands and frequent power outages, integrating solar batteries presents a viable solution to stabilize the energy supply. The study investigates the current state of solar battery technology in Nigeria, its economic and environmental benefits, and the challenges to implementation. Through a literature review, case studies, and stakeholder interviews, the paper provides a comprehensive analysis of solar batteries' contribution to a resilient energy future. Key players include Engie SA, TotalEnergies SE, Starsight Energy, Enel SpA, and North-South Power Co. Ltd. Challenges include high upfront costs, inadequate policies, weak infrastructure, and security risks. The paper recommends that the government should strengthen policies and incentives to encourage investments through tax breaks, subsidies, and financial incentives.

Keywords: renewable energy, solar batteries, energy security, Nigeria’s electricity generation, job creation

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Authors: Syeda Faiza Gardazi, Syed Ahsan Ali Gardazi, Ajmal Waheed

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The trend of overtime is increasing among workers due to more pressure to perform workloads, job insecurity, and financial issues. Overtime work affects the work-life balance conflict negatively as well positively. Work-life balance conflict has become an important issue as traditional work and family roles have changed. The purpose of the current research was to study the impact of overtime work on work-life balance conflict along with the moderating role of job satisfaction. For this purpose, data is collected from the employees working in different public and private sectors of Pakistan using simple random sampling technique. Descriptive statistics was used for data presentation and analysis. Correlation and regression analysis were used to test four research hypotheses proposed on the basis of research framework. The findings led to the acceptance of four hypotheses. The results show that high working hours and overtime in general lead to high work-life balance conflict. Moreover, job satisfaction moderates the relationship between overtime work and work-life balance conflict.

Keywords: family to work conflict, overtime work, work to family conflict, work-life balance conflict

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Authors: Shuja Alharbi

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Oil and Gas industry has many applications considered as toxic or hazardous, where process fluid leakage is not permitted and leads to health, safety, and environmental impacts. Caustic/Acidic applications, High Benzene Concentrations, Hydrogen sulfide rich oil/gas as well as liquids operating above their auto-ignition temperatures are examples of such liquids that pose as a risk to the industry operation, and for those, special arrangements are in place to allow for the safe operation environment. Pumps in the industry requires special attention, specifically in the interface between the fluid and the environment, where the potential of leakages are foreseen. Mechanical Seals are used to contain the fluid within the equipment, but the prices are ever increasing for such seals, along with maintenance, design, and operating requirements. Several alternatives to seals are being employed nowadays, such as Sealless systems, which is hermitically sealed from the atmosphere and does not require sealing. This technology is considered relatively new and requires more studies to understand the limitations and factors associated from an owner and design perspective. Things like financial factors, maintenance factors, and design limitation should be studies further in order to have a mature and reliable technical solution available to end users.

Keywords: pump, sealless, selection, failure

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Authors: Theingi Shwe, Riken Homma, Kazuhisa Iki, Juko Ito

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The growing cities of the developing country are characterized by rapid growth and poor infrastructure management inviting and accelerating relative environmental problems. Even though the movements of the sustainability had already been developed around the world, it is still increasing in the developing countries to plant sustainable practices. Aligned with the sustainable development actions, many sustainable assessment tools are also developed to rate and evaluate the sustainability performances through the building to community level. Among them, CASBEE is developed by Japanese organizations and is recognized as one of the international well-known assessment tools. The main purpose of the study is to find out the potential of CASBEE tool reflecting sustainability city level performances in developing countries. The research framework was designed with three major phases: Quantitative Approach, Qualitative Approach and Evaluation Reflection. The first two approaches were based on the investigation of tool’s contents and indicators by means of three sustainable dimensions and sustainability categories. To know the reality and reflection on developing country, Pathein City from Myanmar was selected and evaluated by 2012 version of CASBEE for Cities. The evaluation practices went through assigned indicators and the evaluation outcome presents the performances of Pathein city’s environmental efficiency as a very good in current conditions. The results of this study indicate that the indicators of this tool have balance coverage among three dimensions of sustainability but it has not yet counted enough for some indicators like location, infrastructure and institution which are relative to society dimension. In the developing countries’ cities, the most critical issues on development such as affordable housing and heritage preservation which are already planted in Pathein City but the tool does not account for those issues. Moreover, in some of the indicators, the benchmark and the weighting coefficient are strongly linked to the system birth region. By means of this study, it can be stated that CASBEE for Cities would be potential for delivering sustainable city level development in developing country especially in Myanmar along with further inclusion of the indicators.

Keywords: assessment tool, CASBEE, developing country, Myanmar, Pathein city, sustainable development

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Authors: Adedolapo Taiwo Adeyemi, Success Ayodeji Fasanmi

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The emergence of the coronavirus pandemic and the rate of the spread affected a lot of activities across the world. This led to the introduction of online learning modes in several countries after institutions were shut down. Unfortunately, most public universities in Nigeria could not switch to the online mode because they were not prepared for it, as they do not have the technological capacity to support a full online learning mode. This study examines the readiness of university and the attitude of undergraduates towards online learning mode in Obafemi Awolowo University (OAU), Ile Ife. It investigated the skills and competencies of students for online learning as well as the university’s readiness towards online learning mode; the effort was made to identify challenges of online teaching and learning in the study area, and suggested solutions were advanced. OAU was selected because it is adjudged to be the leading Information and Communication Technology (ICT) driven institution in Nigeria. The descriptive survey research design was used for the study. A total of 256 academic staff and 1503 undergraduates were selected across six faculties out of the thirteen faculties in the University. Two set of questionnaires were used to get responses from the selected respondents. The result showed that students have the skills and competence to operate e-learning facilities but are faced with challenges such as high data cost, erratic power supply, and lack of gadgets, among others. The study found out that the university was not prepared for online learning mode as it lacks basic technological facilities to support it. The study equally showed that while lecturers possess certain skills in using some e-learning applications, they were limited by the unavailability of online support gadgets, poor internet connectivity, and unstable power supply. Furthermore, the assessment of student attitude towards online learning mode shows that the students found the online learning mode very challenging as they had to bear the huge cost of data. Lecturers also faced the same challenge as they had to pay a lot to buy data, and the networks were sometimes unstable. The study recommended that adequate funding needs to be provided to public universities by the government while the management of institutions must build technological capacities to support online learning mode in the hybrid form and on a full basis in case of future emergencies.

Keywords: universities, online learning, undergraduates, attitude

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Authors: Jingde Li, Hong Hao

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Recent oil and gas accidents have reminded us the severe consequences of gas explosion on structure damage and financial loss. In order to protect the structures and personnel, engineers and researchers have been working on numerous different explosion mitigation methods. Amongst, venting is the most economical approach to mitigate gas explosion overpressure. In this paper, venting is used as the overpressure alleviation method. A theoretical method and a numerical technique are presented to predict the internal and external pressure from vented gas explosion in a large enclosure. Under idealized conditions, a number of experiments are used to calibrate the accuracy of the theoretically calculated data. A good agreement between the theoretical results and experimental data is seen. However, for realistic scenarios, the theoretical method over-estimates internal pressures and is incapable of predicting external pressures. Therefore, a CFD simulation procedure is proposed in this study to estimate both the internal and external overpressure from a large-scale vented explosion. Satisfactory agreement between CFD simulation results and experimental data is achieved.

Keywords: vented gas explosion, internal pressure, external pressure, CFD simulation, FLACS, ANSYS Fluent

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Authors: Maurice Bilioniere, Katie Lanneau

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Suddenly appeared in 2011, invasions of sargasso seaweeds Fluitans and Natans are a climatic hazard which causes many problems in the Caribbean. Faced with the growth and frequency of the phenomenon of massive sargasso stranding on their coasts, the French West Indies are moving towards the path of industrial recovery. In this context of innovative projects, we will analyze the necessary requirements for the management and performance of the supply chain, taking into account the observed volatility of the sargasso input. Our prospective approach will consist in studying the theoretical framework of modeling a hybrid supply chain by coupling the discreet event simulation (DES) with a valuation of the process costs according to the "activity-based costing" method (ABC). The PREVA approach (PRocess EVAluation) chosen for our modeling has the advantage of evaluating the financial flows of the logistic process using an analytical model chained with an action model for the evaluation or optimization of physical flows.

Keywords: sargasso, PREVA modeling, supply chain, ABC method, discreet event simulation (DES)

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Authors: Chu Chen, Giorgio Gotti, Tony Kang, Michael Wolfe

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This study examines the role of codes of ethics in reducing the extent to which managers’ act opportunistically in reporting earnings. Corporate codes of ethics, by clarifying the boundaries of ethical corporate behaviors and making relevant social norms more salient, have the potential to deter managers from engaging in opportunistic financial reporting practices. In a sample of international companies, we find that the quality of corporate codes of ethics is associated with higher earnings quality, i.e., lower discretionary accruals. Our results are confirmed for a subsample of firms more likely to be engaging in opportunistic reporting behavior, i.e., firms that just meet or beat analysts’ forecasts. Further, codes of ethics play a greater role in reducing earnings management for firms in countries with weaker investor protection mechanisms. Our results suggest that corporate codes of ethics can be a viable alternative to country-level investor protection mechanisms in curbing aggressive reporting behaviors.

Keywords: corporate ethics policy, code of ethics, business ethics, earnings discretion, accruals

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Authors: Khalid Achaat

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It is difficult to speak about freedom of the press in Algeria without first talking to fifty-seven journalists killed in the country between 1993 and 1997 and the five missing journalists. No serious investigation was conducted to find the culprits. When a State is not able to guarantee law, there is no justice and violations of the law become "systematic". How to claim the freedom of press in Algeria, when death becomes "banal"? In these circumstances, can we talk of rights of the Algerian press? It is impossible to understand the problems of the press in Algeria, focusing solely legal issues. Take into account technical, financial and political. Their respective roles varies depending on whether one focuses on the collection of information, the regime of the newspaper company or publication and dissemination. Can we say that the Algerian press is "the freest in the Arab world", while the latter reflects only partially the real problems facing the country? While any newspaper company is subject, de facto, to an authorization scheme, permanently subjected to the constant threat of withdrawal of the authorization, suspension, prohibition or closure without it has the right to a remedy? Can it be free when the majority of "media owners", head of the largest daily newspapers are derived from the single party in power since independence? Some of this release does not it serves the interests of the Algerian power?

Keywords: freedom, press, power, closure, suspension

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Authors: Sanjay Adhikesaven

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Workplace accidents are a critical problem that causes many deaths, injuries, and financial losses. Climate change has a severe impact on industrial workers, partially caused by global warming. To reduce such casualties, it is important to proactively find unsafe environments where injuries could occur by detecting the use of personal protective equipment (PPE) and identifying unsafe activities. Thus, we propose an industrial workplace alerting and monitoring platform to detect PPE use and classify unsafe activity in group settings involving multiple humans and objects over a long period of time. Our proposed method is the first to analyze prolonged actions involving multiple people or objects. It benefits from combining pose estimation with PPE detection in one platform. Additionally, we propose the first open-source annotated data set with video data from industrial workplaces annotated with the action classifications and detected PPE. The proposed system can be implemented within the surveillance cameras already present in industrial settings, making it a practical and effective solution.

Keywords: computer vision, deep learning, workplace safety, automation

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Authors: Ali Muhammad

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The purpose of this study is to determine the moderating of effect of organizational commitment in the relationship between emotional intelligence and work outcomes. The study presents a new model to explain the mechanism through which emotional intelligence influences work outcomes. The model includes emotional intelligence as an independent variable, organizational commitment as a moderating variable, and work performance, job involvement, job satisfaction, organizational citizenship behavior, and intention to leave as dependent variables. A sample of 208 employees working in eight Kuwaiti business organizations (from industrial, banking, service, and financial sectors) were surveyed, and data was analyzed using structural equation modeling. Results indicate that emotional intelligence is positively associated with organizational commitment and that the positive effect of emotional intelligence on job involvement and organizational citizenship behavior is moderated by organizational commitment. The results of the current study are discussed and are compared to the results of previous studies in this area. Finally, the directions for future research are suggested.

Keywords: emotional intelligence, organizational commitment, job involvement, job satisfaction, organizational citizenship behavior, intention to leave

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Authors: Nitin Bhagat

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Drought is a global phenomenon. It has a huge impact on agriculture and allied sector activities. Agriculture plays a substantial role in the economy of developing countries, which mainly depends on rainfall. The present study illustrates the drought conditions in Masurdi village of Latur district in the Marathwada region, Maharashtra. This paper is based on both primary as well as secondary data sources. The multistage sample method was used for primary data collection. The 100 households sample survey data has been collected from the village through a semi-structured questionnaire. The crop production data is collected from the Department of Agriculture, Government of Maharashtra. The rainfall data is obtained from the Department of Revenue, Office of Divisional Commissioner, Aurangabad for the period from 1988 to 2018. This paper examines the severity of drought consequences of the 2015 drought on domestic water supply, crop production, and the effect on children's schooling, livestock assets, bank credit, and migration. The study also analyzed climate variables' impact on the Latur district's total food grain production for 19 years from 2000 to 2018. This study applied multiple regression analysis to check the relationship between climatic variables and the Latur district's total food grain production. The climate variables are annual rainfall, maximum temperature and minimum temperature. The study considered that climatic variables are independent variables and total food grain as the dependent variable. It shows there is a significant relationship between rainfall and maximum temperature. The study also calculated rainfall deviations to find out the drought and normal years. According to drought manual 2016, the rainfall deviation calculated using the following formula. RF dev = {(RFi – RFn) / RFn}*100.Approximately 27.43 % of the workforce migrated from rural to urban areas for searching jobs, and crop production decreased tremendously due to inadequate rainfall in the drought year 2015. Many farm and non-farm labor, some marginal and small cultivators, migrated from rural to urban areas (like Pune, Mumbai, and Western Maharashtra).About 48 % of the households' children faced education difficulties; in the drought period, children were not going to school. They left their school and joined to bring water with their mother and fathers, sometimes they fetched water on their head or using a bicycle, near about 2 km from the village. In their school-going days, drinking water was not available in their schools, so the government declared holidays early in the academic education year 2015-16 compared to another academic year. Some college and 10th class students left their education due to financial problems. Many households benefited from state government schemes, like drought subsidies, crop insurance, and bank loans. Out of 100 households, about 50 (50 %) have obtained financial support from the state government’s subsidy scheme, 58 ( 58 %) have got crop insurance, and 41(41 %) irrigated households have got bank loans from national banks; besides that, only two families have obtained loans from their relatives and moneylenders.

Keywords: agriculture, drought, household, rainfall

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Authors: Joy Olayemi Gbala, Fatai Olatokunbo, Philip Cloud

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Catastrophic dictatorship has been discovered to be the major leadership challenge that orchestrates stagnated and contrasted economy with dysfunctional democracy in Africa through willful misappropriation of resources and egregious subversion of the rule of law. Almost invariably, most African leaders inexplicably often become power drunk and addicted which usually leads to abuse of state power, abdication of constitutional duties, unjustly withdrawal of business license of operation, human right violation, election malpractices, financial corruption, disruptions of policies of democratic government transition, annulment of free and fair election, and disruptions of legal electoral procedures and unachievable dividends of democracy and many more. Owing to this, most African nations have gone and still go through political unrest and insurgencies leading to loss of lives and property, violent protests, detention of detractors and political activists and massive human displacement. This research work is concerned with, and investigates the causes, menace, consequences and impacts of subverting the rule of law in Africa on the economy and the development of the continent with a suggested practical solution to the plights.

Keywords: corruption, law, leadership, violation

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Authors: Gholamreza Madad

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The role of medical equipment in modern advanced hospitals is irrefutable. Despite limited financial resources, developing countries have taken an uncontrollable manner to the purchase of complex and expensive equipment, although they have not taken good maintenance to keep these huge capitals. In our country, limited studies have indicated that the irregularities exist in the management of medical equipment maintenance. Research method: The research was done as a cross-sectional one, and in this study, a questionnaire was used to collect data in 10 hospitals. After distributing and collecting questionnaires in person, the collected data were analyzed using descriptive statistics and SPSS software. Research findings: According to the obtained results from the four dimensions of the management of medical equipment maintenance, only (maintenance planning) was in a moderate position and other components with a score of less than 50% were at a low level. There was a direct relationship between the total score of maintenance management and guidance points and coordination of medical equipment maintenance, and as well as the age of hospital managers. Discussion and conclusion: In sum, we can say that problems such as lack of skilled staff in medical engineering departments of hospitals, lack of funds and unaware of the authorities of medical engineering units to their duties have caused that the maintenance situation of medical equipment maintenance is in poor condition (near average). The low inexperience of the authorities of the unit has also contributed to this problem.

Keywords: equipment, maintenance, medical equipment, hospitals

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Authors: Nur R. Daut

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

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

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Authors: Taufik Mulyadin

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The tuition reform for public colleges that the Indonesian government initiated and has implemented since 2013 resulted in the growing number of college students from low-income families, many of whose parents did not attend college. This study sought to examine the experiences of persistence for Indonesian first-generation college students in public universities utilizing social capital as a framework. It is a qualitative study with a phenomenological approach primarily to capture the essence of how Indonesian first-generation college students interpret, process, and experience their persistence during college years. Fifteen Indonesian young college graduates were involved as well as questionnaire and interview were employed for data collection in this study. It revealed certain themes from the experiences that first-generation college students attributed to their persistence: (a) family encouragement, (b) support from friends, (c) guidance from faculty and staff, (d) fund of knowledge they bring with them, (e) financial aid availability, and (f) self-motivation. By examining first-generation college students’ voices, Indonesian public universities can better support, engage, and retain this group of students who were historically struggled to persist in college and complete their degree.

Keywords: first-generation student, Indonesian higher education, persistence, public universities

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Authors: Anjali Dewi Krishnan

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This paper attempts to explore the factors causing student loan defaults among NHEFC borrower besides measuring the enforcement actions that have been took by NHEFC to improve repayment rate. It starts by reviewing the causes of student loan default from the perspective of the loan borrowers besides finding out about the effectiveness of approaches taken by NHEFC (National Higher Education Fund Corporation) until now in order to increase the repayment rate and recover student loan default. The results gathered from the research used to investigate or identify the relationship between job statuses, gender, and ethnicity of the borrowers with repayment status, enforcement from the NHEFC side in the sense of student loan repayment; and respondent's opinion about enforcement in encouraging repayment of student loan and recover loan default. A combination of unemployment, financial constraint, inefficient repayment method and some other reasons of student loan defaults were discovered through this research. It finishes by presenting the reality whereby a student loan default is a result of inability to pay back and not about willingness to pay back.

Keywords: loan default, loan recovery, loan repayment, national higher education fund corporation

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Authors: Radoslaw Nagay

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The Paulina Project aims to address the challenges faced by immobilized individuals, such as those with multiple sclerosis, muscle dystrophy, or spinal cord injuries, by developing a flexible hardware and software solution. This paper presents the research and development efforts of our team, which commenced in 2019 and is now in its final stage. Recognizing the diverse needs and limitations of individuals with limited mobility, we conducted in-depth testing with a group of 30 participants. The insights gained from these tests led to the complete redesign of the system. Our presentation covers the initial project ideas, observations from in-situ tests, and the newly developed system that is currently under construction. Moreover, in response to the financial constraints faced by many disabled individuals, we propose an affordable business model for the future commercialization of our invention. Through the Paulina Project, we strive to empower immobilized individuals, providing them with greater independence and improved quality of life.

Keywords: UI, human-machine interface, social inclusion, multiple sclerosis, muscular dystrophy, spinal cord injury, quadriplegic

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Authors: Salah Alrabeei, Mohammad Yousuf

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The goal of option pricing theory is to help the investors to manage their money, enhance returns and control their financial future by theoretically valuing their options. However, most of the option pricing models have no analytical solution. Furthermore, not all the numerical methods are efficient to solve these models because they have nonsmoothing payoffs or discontinuous derivatives at the exercise price. In this paper, we solve the American option under jump diffusion models by using efficient time-dependent numerical methods. several techniques are integrated to reduced the overcome the computational complexity. Fast Fourier Transform (FFT) algorithm is used as a matrix-vector multiplication solver, which reduces the complexity from O(M2) into O(M logM). Partial fraction decomposition technique is applied to rational approximation schemes to overcome the complexity of inverting polynomial of matrices. The proposed method is easy to implement on serial or parallel versions. Numerical results are presented to prove the accuracy and efficiency of the proposed method.

Keywords: integral differential equations, jump–diffusion model, American options, rational approximation

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Authors: Jungyeol Hong, Dongjoo Park

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The primary purpose of this study is to develop a methodological framework to predict daily subway ridership at a station-level and to examine the association between subway ridership and bus demand incorporating commercial business facility in the vicinity of each subway station. The socio-economic characteristics, land-use, and built environment as factors may have an impact on subway ridership. However, it should be considered not only the endogenous relationship between bus and subway demand but also the characteristics of commercial business within a subway station’s sphere of influence, and integrated transit network topology. Regarding a statistical approach to estimate subway ridership at a station level, therefore it should be considered endogeneity and heteroscedastic issues which might have in the subway ridership prediction model. This study focused on both discovering the impacts of bus demand, commercial business characteristics, and network topology on subway ridership and developing more precise subway ridership estimation accounting for its statistical bias. The spatial scope of the study covers entire Seoul city in South Korea and includes 243 stations with the temporal scope set at twenty-four hours with one-hour interval time panels each. The data for subway and bus ridership was collected Seoul Smart Card data from 2015 and 2016. Three-Stage Least Square(3SLS) approach was applied to develop daily subway ridership model as capturing the endogeneity and heteroscedasticity between bus and subway demand. Independent variables incorporating in the modeling process were commercial business characteristics, social-economic characteristics, safety index, transit facility attributes, and dummies for seasons and time zone. As a result, it was found that bus ridership and subway ridership were endogenous each other and they had a significantly positive sign of coefficients which means one transit mode could increase another transportation mode’s ridership. In other words, two transit modes of subway and bus have a mutual relationship instead of the competitive relationship. The commercial business characteristics are the most critical dimension among the independent variables. The variables of commercial business facility rate in the paper containing six types; medical, educational, recreational, financial, food service, and shopping. From the model result, a higher rate in medical, financial buildings, shopping, and food service facility lead to increment of subway ridership at a station, while recreational and educational facility shows lower subway ridership. The complex network theory was applied for estimating integrated network topology measures that cover the entire Seoul transit network system, and a framework for seeking an impact on subway ridership. The centrality measures were found to be significant and showed a positive sign indicating higher centrality led to more subway ridership at a station level. The results of model accuracy tests by out of samples provided that 3SLS model has less mean square error rather than OLS and showed the methodological approach for the 3SLS model was plausible to estimate more accurate subway ridership. Acknowledgement: This research was supported by Basic Science Research Program through the National Research Foundation of Korea(NRF) funded by the Ministry of Science and ICT (2017R1C1B2010175).

Keywords: subway ridership, bus ridership, commercial business characteristic, endogeneity, network topology

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

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Authors: Apurva Sapra

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The aim of this research was to study and compare the nature of expected, feared and hoped-for selves in institutionalized adolescent boys in two residential settings – an observation home with children in conflict with the law, and a children’s home with children in need of care and protection. The study uses a concurrent mixed methods design, in which eight adolescent boys from each group, aged 13-17, were asked to respond to a questionnaire, followed by an in-depth interview. The questionnaire looked into the total scores on current, probable and hoped-for/feared positive and negative self-descriptors. Possible selves of both groups were found to be influenced by their unique histories, such as with their experience of violence, interaction with the police and emphasis given on education. Expected selves and hoped-for selves were similar within the two groups. However, they were more concrete and attainable in the observation home and more ambitious in the children’s home. Quantitative results showed that on the positive self-descriptors, the participants in the observation home had a slightly lower total score on the current parameter as on the probable and hoped-for parameters. The participants in the children’s home showed similar results on current and probable positive self-descriptors, with higher scores on the hoped-for parameter. For most of the negative self-descriptors, the current score for the observation home group was lower than the expected score, and for the children’s home group, they were feared slightly more than they were expected. Along with the nature of possible selves, the study also looked into threats and support to desired and feared possible selves, as well as strategies to attain the desired possible selves and avoid feared possible selves. While threats to possible selves were identified as external and internal in both groups, the participants in the children’s home tended to identify threats as external. The categories of support were similar across the two groups, although the nature of support provided differed. Strategies adopted by participants in the observation home could be clearly divided as past, present and future strategies, while those adopted by participants in the children’s home had an overlap with past and future strategies. The institution was perceived as having a negative influence for the future in the observation home group, but positive in the children’s home group. Limitations of the study and recommendations for future research, policy setting and the counselling profession are discussed.

Keywords: adolescents, expected self, feared self, hoped-for self, institutions, possible selves

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Authors: Wenli Tsou, Jessica Wu

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Courses of English for specific academic purposes (ESAP) have become popular for higher education in Taiwan; however, no standardized tests have been developed for evaluating learners’ English proficiency in individual designated fields. Assuming a learner’s proficiency in a specific academic area is built up with one’s general proficiency in English with specific knowledge and vocabulary in the content areas, an adequate ESAP proficiency test may be constructed by some selected test items related to the designated academic areas. In this study, through collaboration between a language testing institution and a university in Taiwan, three sets of ESAP tests, covering three disciplinary areas of business and the workplace, science and engineering, and health and medicine majors, were developed and administered to sophomore students (N=1704) who were enrolled in ESAP courses at a university in southern Taiwan. For this study, the courses were grouped into the above-mentioned three disciplines, and students took the specialized proficiency test based on the ESAP course they were taking. Because students were free to select which ESAP course to take, each course had both major and non-major students. Toward the end of the one-semester course, ending in January, 2015, each student took two tests, one of general English (General English Proficiency Test, or GEPT) and the other ESAP. Following each test, students filled out a survey, reporting their test taking experiences. After comparing students’ two test scores, it was found that business majors and health and medical students performed better in ESAP than the non-majors in the class, whereas science and engineering majors did about the same as their non-major counterparts. In addition, test takers with CERF B2 (upper intermediate) level or above performed well in both tests, while students who are below B2 did slightly better in ESAP. The findings suggest that students’ test performance have been enhanced by their specialist content and vocabulary knowledge. Furthermore, results of the survey show that the difficulty levels reported by students are consistent with their test performances. Based on the item analysis, the findings can be used to develop proficiency tests for specific disciplines and to identify ability indicators for college students in their designated fields.

Keywords: english for specific academic purposes (ESAP), general english proficiency test (GEPT), higher education, proficiency test

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Authors: Ahmad Zia

Abstract:

This study problematizes the notion that the pluralistic educational system in Pakistan fosters equality. Instead, it argues that this system not only reflects but also sustains existing class divisions, with implications for the future economic and social mobility of children. The primary goal of this study is to explore unequal access to educational opportunities in Pakistan. By examining the intersection between education and socioeconomic status, it attempts to explore the implications of key disparities in different tiers of education systems in Pakistan like between madrassahs, public schools and private schools, with an emphasis on how these institutions contribute to the maintenance of class hierarchies. This is a primary data based case study and the most recent data has been directly gathered Qualitative methods have been used to collect data from the units of data collection (UDCs). it have used Bourdieu’s theory as a leading framework. Its application in the context of country like Pakistan is very productive. it choose the thematic analysis method to analyse the data. This process helped me to identify relevant main themes and subthemes emerging from my data, which could comprise my analysis. Findings reveal that the educational landscape in Pakistan is deeply divided having far-reaching implications for social mobility and access to opportunities. This study found profound disparities among various educational institutions with respect to widening socioeconomic divides. Every kind of educational institution operates in a distinct socio-cultural and economic environment. Therefore, access to quality education is highly stratified and remains a privilege for only those who can afford it. This widens the socioeconomic gap that already exists. There has not been an extensive investigation of the relationship between pluralistic educations with class stratification in the literature so far. This study adds to a multifaceted understanding of educational disparities in Pakistan by analysing the intersections between socioeconomic divisions and educational access. It offers valuable theoretical and practical insights into the subject. This study provides theoretical concepts and empirical data to enhance scholars' understanding of socioeconomic inequality, specifically in relation to education systems.

Keywords: social inequality, pluralism, class divide, capitalism, globalisation, elitism, education

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Authors: Lagnajeet Mohanty, Mohnish Mishra, Pratham Tapdiya, Himanshu Sekhar Nayak, Swetapadma Singh

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In the era of global interconnectedness, effective risk assessment and management are critical for organizational resilience. This review explores the integration of machine learning (ML) into risk processes, examining its transformative potential and the challenges it presents. The literature reveals ML's success in sectors like consumer credit, demonstrating enhanced predictive accuracy, adaptability, and potential cost savings. However, ethical considerations, interpretability issues, and the demand for skilled practitioners pose limitations. Looking forward, the study identifies future research scopes, including refining ethical frameworks, advancing interpretability techniques, and fostering interdisciplinary collaborations. The synthesis of limitations and future directions highlights the dynamic landscape of ML in risk management, urging stakeholders to navigate challenges innovatively. This abstract encapsulates the evolving discourse on ML's role in shaping proactive and effective risk management strategies in our interconnected and unpredictable global landscape.

Keywords: machine learning, risk assessment, ethical considerations, financial inclusion

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Authors: Ashkan Mirzay Fashami

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This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.

Keywords: audit, auditor switch, Australia, fee, low-balling

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Authors: Chandrashekara Krishnappa, Yogish Huchaiah

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The present work considers the importance of economic feasibility and financial viability of biodiesel production, and its use in the present context of prevailing Indian scenario. For this, costs involved in production of one litre of biodiesel from non-edible Jatropha and Pongamia oils Nano mix are considered. Biodiesel derived from the mix is blended with petrodiesel in various proportions and used in Compression Ignition (CI) Direct Injection (DI) engine. Performance and Emission characteristics were investigated. Optimization of the blends considering experimental results was carried out. To validate the experimental results and optimization, Multi-Functional Criteria Technique (MFCT) is used. Further, value additions in terms of INR due to increase in performance and reduction in emissions are investigated. Cost component of subsidy on petrodiesel is taken into consideration in the calculation of cost of one litre of it. Comparison of costs is with respect to the unit of power generated per litre of COME and petrodiesel. By the analysis it has been concluded that the amount saved with subsidy is INR 1.45 Lakh Crores per year and it is INR1.60 Lakh Crores per year without subsidy for petrodiesel.

Keywords: cap value addition, economic analysis, MFCT, NACOME, subsidy

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Authors: Tea Poklepović, Zdravka Aljinović, Branka Marasović

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Due to the importance of yield curve and its estimation it is inevitable to have valid methods for yield curve forecasting in cases when there are scarce issues of securities and/or week trade on a secondary market. Therefore in this paper, after the estimation of weekly yield curves on Croatian financial market from October 2011 to August 2012 using Nelson-Siegel and Svensson models, yield curves are forecasted using Vector auto-regressive model and Neural networks. In general, it can be concluded that both forecasting methods have good prediction abilities where forecasting of yield curves based on Nelson Siegel estimation model give better results in sense of lower Mean Squared Error than forecasting based on Svensson model Also, in this case Neural networks provide slightly better results. Finally, it can be concluded that most appropriate way of yield curve prediction is neural networks using Nelson-Siegel estimation of yield curves.

Keywords: Nelson-Siegel Model, neural networks, Svensson Model, vector autoregressive model, yield curve

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