Search results for: complex capital goods

Authors: Tarak Barhoumi, Younes Boujelbene

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Nowadays, the problems of freight transport pose logistical constraints on the urban system in the city. The aim of this article is to gain a better understanding of the interactions between local traffic and interurban traffic on the one hand and between the location system and the transport system on the other hand. Thus, in a simulation and analysis approach cannot be restricted to the only transport system. The proposed approach is based on an assessment of the impact of freight transport, which is closely linked to the diagnostic method, based on two surveys carried out on the territory of the urban community of Sfax. These surveys are based on two main components 'establishment component' first and 'driver component' second. The results propose a reorganization of freight transport in the city of Sfax. First, an orientation of the heavy goods vehicles traffic towards the major axes of transport namely the ring roads (ring road N° 2, ring road N° 4 and ring road N° 11) and the penetrating news of the city. Then, the implementation of a retail goods delivery policy and the strengthening of logistics in the city. The creation of a logistics zone at the ring road N° 11 where various modes of freight transport meet, in order to decongest the roads of heavy goods traffic, reduce the cost of transport and thus improve the competitiveness of the economy regional.

Keywords: urban logistics systems, transport freight, diagnostics, evaluation

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Authors: Lamia Hammadi, Abdellah Ait Ouhman, Aomar Ibourk

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It is widely assumed that the case of Customs Supply Chain is classified as a complex system, due to not only the variety and large number of actors, but also their complex structural links, and the interactions between these actors, that’s why this system is subject to various types of Risks. The economic, political and social impacts of those risks are highly detrimental to countries, businesses and the public, for this reason, Risk management in the customs supply chain is becoming a crucial issue to ensure the sustainability, security and safety. The main characteristic of customs risk management approach is determining which goods and means of transport should be examined? To what extend? And where future compliance resources should be directed? The purposes of this article are, firstly to deal with the concept of customs supply chain, secondly present our risk management approach based on Cross Activity Based Costing (ABC) Method as an interactive tool to support decision making in customs risk management. Finally, analysis of case study of Moroccan customs to putting theory into practice and will thus draw together the various elements of a structured and efficient risk management approach.

Keywords: cross ABC method, customs supply chain, risk, risk management

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Authors: Elad Harison

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The paper identifies the complex links between post-COVID-19 inflationary pressures and global supply chains. Throughout the COVID-19 lockdowns and long periods after the termination of social distancing policies, consumers, notably in the U.S., have confronted and still face disruptions in the supply of goods. The study analyzes the monetary policy in the U.S. that led to the significant shift in consumer demand during a limited supply period, hence resulting in shortages and emphasizing inflationary dynamics. We argue that the monetary guidelines applied by the U.S. government further elevated the scope of supply chain disruptions.

Keywords: consumer demand, COVID-19, inflation, monetary policy, supply chain

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Authors: A. Mirzaei, S. Zolghadri, M. Athari-Allaf, H. Yousefnia, A. R. Jalilian

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Rheumatoid arthritis is the most common autoimmune disease, leading to the destruction of the joints. The aim of this study was the preparation of 90Y-chitosan complex as a novel agent for radiosynovectomy. The complex was prepared in the diluted acetic acid solution. At the optimized condition, the radiochemical purity of higher than 99% was obtained by ITLC method on Whatman No. 1 and by using a mixture of methanol/water/acetic acid (4:4:2) as the mobile phase. The complex was stable in acidic media (pH=3) and its radiochemical purity was above 98% even after 48 hours. The biodistribution data in rats showed that there was no significant leakage of the injected activity even after 48 h. Considering all of the excellent features of the complex, 90Y-chitosan can be used to manipulate synovial inflammation effectively.

Keywords: chitosan, Y-90, radiosynovectomy, biodistribution

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Authors: Sepideh Yeganegi, Andre Laplume, Parshotam Dass, Cam-Loi Huynh

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This paper empirically examines organizational and institutional antecedents of entrepreneurial entry. We employ multi-level logistic regression modelling methods on a sub-sample of the Global Entrepreneurship Monitor’s 2011 survey covering 30 countries. The results reveal that employees who have experience with activities unrelated to the core technology of their organizations are more likely to spin out entrepreneurial ventures, whereas those with experiences related to the core technology are less likely to do so. In support of the recent theory, we find that the strength of intellectual property rights and the availability of venture capital have negative and positive effects, respectively, on the likelihood that employees turn into entrepreneurs. These institutional factors also moderate the effect of relatedness to core technology such that entrepreneurial entries by employees with experiences related to core technology are curbed more severely by stronger intellectual property rights protection regimes and lack of venture capital.

Keywords: spinouts, intellectual property rights, venture capital, entrepreneurship, organizational experiences, core technology

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Authors: Bruno Mazorra Roig

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In the realm of cost-sharing mechanisms, the vulnerability to Sybil strategies, where agents can create fake identities to manipulate outcomes, has not yet been studied. In this paper, we delve into the intricacies of different cost-sharing mechanisms proposed in the literature, highlighting its non-Sybil-resistance nature. Furthermore, we prove that under mild conditions, a Sybil-proof cost-sharing mechanism for public excludable goods is at least (n/2 + 1)−approximate. This finding reveals an exponential increase in the worst-case social cost in environments where agents are restricted from using Sybil strategies. We introduce the concept of Sybil Welfare Invariant mechanisms, where a mechanism maintains its worst-case welfare under Sybil strategies for every set of prior beliefs with full support even when the mechanism is not Sybil-proof. Finally, we prove that the Shapley value mechanism for public excludable goods holds this property and so deduce that the worst-case social cost of this mechanism is the nth harmonic number Hn under the equilibrium of the game with Sybil strategies, matching the worst-case social cost bound for cost-sharing mechanisms. This finding carries important implications for decentralized autonomous organizations (DAOs), indicating that they are capable of funding public excludable goods efficiently, even when the total number of agents is unknown.

Keywords: game theory, mechanism design, cost sharing, false-name proofness

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Authors: Eunice Chiamaka Allen-Ngbale

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Prior to bill of lading (BOL), merchants travelled along with their goods; then recorded the goods in the ship’s mates’ register; and finally started selling the goods while in transit by way of BOL, indicative that BOL is negotiable. Common law doctrine of privity of contract did not allow the transfer of right to sue to a non-party to the contract. This created hardship to cargo owners, which made many jurisdictions enact laws in this regard. Bill of Lading Act 1855 (BLA) was enacted in the United Kingdom, which applied as statute of general application under section 375 Merchant Shipping Act 1990 (MSA) in Nigeria; and conferred contractual rights of the suit on consignees and endorsees, but on the passing of ownership upon or by reason of such consignment or endorsement on the shipment of the goods simultaneously. The repeal of section 375 MSA by section 439 MSA 2007 created a lacuna, and the doctrine of privity of contract is the extant law in Nigeria. The aim of this study is to evaluate laws governing the transfer of the contractual right of suit to a third party under the bill of lading in Nigeria. The specific objectives of this study are to ascertain: (i) whether the extant law of common law doctrine of privity of the contract covers the transfer of the right of suit to the third party under the bill of lading in Nigeria; (ii) impediment(s) of the common law to transfer such right in Nigeria in the absence of any legislation; (iii) the level of applicability of the doctrine of privity of contract as it relates to transfer of the contractual right of suit to third party under the bill of lading in Nigeria; and (iv) whether to proffer possible suggestion on how to fill the lacuna left by the repeal of Merchant Shipping Act 1990. This work adopted a doctrinal approach with reliance on primary and secondary source materials. It finds that the common law doctrine of privity of contract in Nigeria is retrogressive. This work recommends for amendment of the relevant statute to cure this defect/lacuna like other commonwealth nations for best international practices.

Keywords: contract of carriage by sea, doctrine of privity of contract, lawful holder of bill of lading, third party right of suit

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Authors: Xia Luo, Cheng Zeng

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Under the promotion of the Central Committee of the Communist Party of China and the State Council in 2017, Xiong'an New Area is the third crucial new area in China established after Shenzhen and Shanghai. Its constructions' significance lies in mitigating Beijing's non-capital functions and exploring a new mode of optimizing development in densely populated and economically intensive areas. For this purpose, developing underground logistics can assume the role of goods distribution in the capital, relieve the road transport pressure in Beijing-Tianjin-Hebei Urban Agglomeration, adjust and optimize the urban layout and spatial structure of it. Firstly, the construction planning of Xiong'an New Area and underground logistics development are summarized, especially the development status abroad, the development trend, and bottlenecks of underground logistics in China. This paper explores the technicality, feasibility, and necessity of four modes of transportation. There are pneumatic capsule pipeline (PCP) technology, the CargoCap technology, cable hauled mule, and automatic guided vehicle (AGV). The above technical parameters and characteristics are introduced to relevant experts or scholars. Through establishing an indicator system, carrying out a questionnaire survey with the Delphi method, the final suggestion is obtained: China should develop logistics vehicles similar to CargoCap, adopting rail mode and driverless mode. Based on China's temporal and spatial logistics demand and the geographical pattern of Xiong'an New Area, the construction scale, technical parameters, node location, and other vital parameters of underground logistics are planned. In this way, we hope to speed up the new area's construction and the logistics industry's innovation.

Keywords: the Xiong'an new area, underground logistics, contrastive analysis, CargoCap, logistics planning

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Authors: Omar Moafaq Saleh Aljanabi, Noradiva Hamzah, Ruhanita Maelah

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In today’s challenging global economy, which is driven by information and knowledge, risk management is undergoing a great change, as organizations shift from traditional and compartmental risk management to an enterprise-wide approach. Enterprise risk management (ERM), which aims at increasing the sustainability of an organization and achieving competitive advantage, is gaining global attention and fast becoming an essential concern in all industries. Furthermore, in order to be effective, ERM should be managed by managers with high-level skills and knowledge. Despite the importance of the knowledge embedded in, there remains a paucity of evidence concerning how human capital could influence the organization’s ERM. Responses from 116 public listed companies (PLCs) on the main market of Bursa Malaysia were analyzed using Structural Equation Modelling (SEM). This study found that there is a significant association between ERM and organizational performance. The results also indicate that human capital has a positive moderating effect on the relationship between ERM and performance. The study contributes to the ERM literature by providing empirical evidence on the relationship between ERM, human capital, and organizational performance. Findings from this study also provide guidelines for managers, policy makers, and the regulatory bodies, to evaluate the ERM practices in PLCs.

Keywords: enterprise risk management, human capital, organizational performance, Malaysian public listed companies

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Authors: Ki Ok Choi, Sung Ho Hong, Dong Suck Kim, Don Mook Choi

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Rack type warehouses are different from general buildings in the kinds, amount, and arrangement of stored goods, so the fire risk of rack type warehouses is different from those buildings. The fire pattern of rack type warehouses is different in combustion characteristic and storing condition of stored goods. The initial fire burning rate is different in the surface condition of materials, but the running time of fire is closely related with the kinds of stored materials and stored conditions. The stored goods of the warehouse are consisted of diverse combustibles, combustible liquid, and so on. Fire detection time may be delayed because the residents are less than office and commercial buildings. If fire detectors installed in rack type warehouses are inadaptable, the fire of the warehouse may be the great fire because of delaying of fire detection. In this paper, we studied what kinds of fire detectors are optimized in early detecting of rack type warehouse fire by real-scale fire tests. The fire detectors used in the tests are rate of rise type, fixed type, photo electric type, and aspirating type detectors. We considered optimum fire detecting method in rack type warehouses suggested by the response characteristic and comparative analysis of the fire detectors.

Keywords: fire detector, rack, response characteristic, warehouse

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Authors: Wuttigrai Ngamsirijit

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Talent management in today’s modern organizations has become data-driven due to a demand for objective human resource decision making and development of analytics technologies. HR managers have been faced with some obstacles in exploiting data and information to obtain their effective talent management decisions. These include process-based data and records; insufficient human capital-related measures and metrics; lack of capabilities in data modeling in strategic manners; and, time consuming to add up numbers and make decisions. This paper proposes a framework of talent management through integration of talent value chain and human capital analytics approaches. It encompasses key data, measures, and metrics regarding strategic talent management decisions along the organizational and talent value chain. Moreover, specific predictive and prescriptive models incorporating these data and information are recommended to help managers in understanding the state of talent, gaps in managing talent and the organization, and the ways to develop optimized talent strategies.    

Keywords: decision making, human capital analytics, talent management, talent value chain

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Authors: Julia Braun, Sinikka Treuger, Magdalena Mißler-Behr

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The support of start-ups at German universities is an elementary part of the efforts of the universities. Targeted support for innovative and technology-oriented start-ups is an important prerequisite for successful founding. The present study provides in a first research information on whether German universities have concepts and strategies for promoting the internationalization of start-ups, with a focus on various international markets, and whether they have the ability to successfully raise venture capital. The question is clarified as to how many universities in Germany have programs or concepts for the promotion of start-ups and whether they have already established an internationalization concept for the start-ups. Furthermore, it is shown whether the concepts found focus on the acquisition of venture capital. For this research, a website-based search of the concepts at German universities is carried out and evaluated. In a second study, an online survey at a selected German university is used to evaluate whether there is a general interest in such a concept. After that, a possible concept is derived. The aim of the research is to show the current status of German universities and to give an elaborated example of an education concept for a university which can be adapted by other universities.

Keywords: education concept, german universities, internatinalization, start-ups, venture capital

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Authors: M. K. Witek-Hajduk, T. M. Napiórkowski

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A number of studies discussed the topic of benefits of retailers-manufacturers cooperation and coopetition. However, there are only few publications focused on the benefits of cooperation and coopetition between retailers and their suppliers of durable consumer goods; especially in the context of business model of cooperating partners. This paper aims to provide a clustering approach to segment retailers selling consumer durables according to the benefits they obtain from their cooperation with key manufacturers and differentiate the said retailers’ in term of the business models of cooperating partners. For the purpose of the study, a survey (with a CATI method) collected data on 603 consumer durables retailers present on the Polish market. Retailers are clustered both, with hierarchical and non-hierarchical methods. Five distinctive groups of consumer durables’ retailers are (based on the studied benefits) identified using the two-stage clustering approach. The clusters are then characterized with a set of exogenous variables, key of which are business models employed by the retailer and its partnering key manufacturer. The paper finds that the a combination of a medium sized retailer classified as an Integrator with a chiefly domestic capital and a manufacturer categorized as a Market Player will yield the highest benefits. On the other side of the spectrum is medium sized Distributor retailer with solely domestic capital – in this case, the business model of the cooperating manufactrer appears to be irreleveant. This paper is the one of the first empirical study using cluster analysis on primary data that defines the types of cooperation between consumer durables’ retailers and manufacturers – their key suppliers. The analysis integrates a perspective of both retailers’ and manufacturers’ business models and matches them with individual and joint benefits.

Keywords: benefits of cooperation, business model, cluster analysis, retailer-manufacturer cooperation

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Authors: Unity Chipfupa, Aluwani Tagwi, Edilegnaw Wale

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Climate change adaptation studies are challenged by a limited understanding of how non-cognitive factors such as psychological capital affect adaptation decisions of smallholder farmers. The concept of psychological capital has not been fully applied in the empirical literature on climate change adaptation strategies. Hence, the study was meant to assess how psychological capital endowment affects climate change adaptation among smallholder farmers. A multivariate probit regression model was estimated using data collected from 328 smallholder farmers in KwaZulu-Natal, South Africa. The findings indicate that, among other factors, self-confidence and hope or aspirations in farming influence climate change adaptation decisions of smallholders. The psychological capital theory proved to be comprehensive in identifying specific psychological dimensions associated with adaptation decisions. However, the non-alignment of approaches for measuring non-cognitive factors made it difficult to compare results among different studies. In conclusion, the study recommends the need for practical ways for enhancing smallholders’ endowment with key non-cognitive abilities. Researchers should develop and agree on a comprehensive framework for assessing non-cognitive factors critical for climate change adaptation. This will improve the use of positive psychology theories to advance the literature on climate change adaptation. Other key recommendations include targeted support for communities facing higher risks of climate change, improving smallholders’ ability to adapt, promotion of social networks and the inclusion of farming objectives as an important indicator in climate change adaptation research.

Keywords: adaptive capacity, climate change adaptation, psychological capital, multivariate probit, non-cognitive factors.

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Authors: Lisa Listiana

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ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

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Authors: Bambang Suko Priyono, Tristiana Rijanti

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This study examines the influence of Psychological Capital Dimensions to Organizational Citizenship Behavior. There are four dimensions of Psychological Capital such as hope, optimism, resilience, and self-efficacy. It also tests the moderation effect of Resistance to Change in the relation between Psychological Capital’s dimensions and Organizational Citizenship Behavior, and the influence of Organizational Citizenship Behavior to employees’ performance. The data from the chosen 160 respondents from Public Service Institution is processed using multiple regression and interaction method. The study results in: 1) Hope positively significantly influences Organizational Citizenship Behavior, 2) Optimism positively significantly influences Organizational Citizenship Behavior, 3) Resilience positively significantly influences Organizational Citizenship Behavior, 4) Self-efficacy positively significantly influences Organizational Citizenship Behavior, 5) Resistance to change is moderating variable between hope and Organizational Citizenship Behavior, 6) Resistance to change is moderating variable between self-efficacy and Organizational Citizenship Behavior, 7) Organizational Citizenship Behavior positively significantly influences performance. On the contrary, resistance to change as a moderating variable is proven for hope and resilience.

Keywords: organizational citizenship behavior, performance, psychological capital’s dimensions, and resistance to change

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Authors: Abraham Castellanos, Christophe Durville, Sophie Echenim

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In this article, a portfolio optimization problem is performed in a Solvency II context: it illustrates how advanced optimization techniques can help to tackle complex operational pain points around the monitoring, control, and stability of Solvency Capital Requirement (SCR). The market SCR of a portfolio is calculated as a combination of SCR sub-modules. These sub-modules are the results of stress-tests on interest rate, equity, property, credit and FX factors, as well as concentration on counter-parties. The market SCR is non convex and non differentiable, which does not make it a natural optimization criteria candidate. In the SCR formulation, correlations between sub-modules are fixed, whereas risk-driven portfolio allocation is usually driven by the dynamics of the actual correlations. Implementing a portfolio construction approach that is efficient on both a regulatory and economic standpoint is not straightforward. Moreover, the challenge for insurance portfolio managers is not only to achieve a minimal SCR to reduce non-invested capital but also to ensure stability of the SCR. Some optimizations have already been performed in the literature, simplifying the standard formula into a quadratic function. But to our knowledge, it is the first time that the standard formula of the market SCR is used in an optimization problem. Two solvers are combined: a bundle algorithm for convex non- differentiable problems, and a BFGS (Broyden-Fletcher-Goldfarb- Shanno)-SQP (Sequential Quadratic Programming) algorithm, to cope with non-convex cases. A market SCR minimization is then performed with historical data. This approach results in significant reduction of the capital requirement, compared to a classical Markowitz approach based on the historical volatility. A comparative analysis of different optimization models (equi-risk-contribution portfolio, minimizing volatility portfolio and minimizing value-at-risk portfolio) is performed and the impact of these strategies on risk measures including market SCR and its sub-modules is evaluated. A lack of diversification of market SCR is observed, specially for equities. This was expected since the market SCR strongly penalizes this type of financial instrument. It was shown that this direct effect of the regulation can be attenuated by implementing constraints in the optimization process or minimizing the market SCR together with the historical volatility, proving the interest of having a portfolio construction approach that can incorporate such features. The present results are further explained by the Market SCR modelling.

Keywords: financial risk, numerical optimization, portfolio management, solvency capital requirement

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Authors: Roopa Singh, Anurag Singh, Ajay

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Agriculture contributes a major share in the national economy of India. A major portion of Indian economy (about 70%) depends upon agriculture as it forms the main source of income. About 43% of India’s geographical area is used for agricultural activity which involves 65-75% of total population of India. The given work deals with the Fast moving Consumer Goods (FMCG) industries and their inventories which use agricultural produce as their raw material or input for their final product. Since the beginning of inventory practices, many developments took place which can be categorised into three phases, based on the review of various works. The first phase is related with development and utilization of Economic Order Quantity (EOQ) model and methods for optimizing costs and profits. Second phase deals with inventory optimization method, with the purpose of balancing capital investment constraints and service level goals. The third and recent phase has merged inventory control with electrical control theory. Maintenance of inventory is considered negative, as a large amount of capital is blocked especially in mechanical and electrical industries. But the case is different in food processing and agro-based industries and their inventories due to cyclic variation in the cost of raw materials of such industries which is the reason for selection of these industries in the mentioned work. The application of electrical control theory in inventory control makes the decision-making highly instantaneous for FMCG industries without loss in their proposed profits, which happened earlier during first and second phases, mainly due to late implementation of decision. The work also replaces various inventories and work-in-progress (WIP) related errors with their monetary values, so that the decision-making is fully target-oriented.

Keywords: control theory, inventory control, manufacturing sector, EOQ, feedback, FMCG sector

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Authors: Muktar Haruna

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This research work examines the International Financial Reporting Standard (IFRS) adoption and value relevance of earnings of listed consumer goods companies in the Nigerian. The population of the study comprises 22 listed consumer goods companies, out of which 15 were selected as sample size of the study. The scope of the study is a 12-year period covering from 2006 to 2018. Secondary data from the annual report of sampled companies were used, which consists of earnings per share (EPS), the book value of equity per share (BVE) as independent variables; firm size (FSZ) as a control variable, and market share price of sampled companies from Nigerian stock exchange as dependent variable. Multiple regressions were used to analyze the data. The results of the study showed that IFRS did not improve the value relevance of earnings after the adoption, which translates to a decrease in value relevance of accounting numbers in the post-adoption period. The major recommendation is that the Nigerian Reporting Council should ensure full compliance to all provisions of IFRS and provide uniformity in the presentation of non-current assets in the statement of financial position, where some present only net current assets leaving individual figures for current assets and liabilities invisible.

Keywords: IFRS, adoption, value relevance, earning per share, book value of equity per share

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Authors: Eunice Chiamaka Allen-Ngbale

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Cargo claims are brought by cargo interests against carriers when the goods are not delivered or delivered short or mis-delivered or delivered damaged. The objective of the cargo claimant is to seek recovery for the loss suffered through the award of damages against the carrier by a court of competent jurisdiction. Moreover, whether the vessel on which the goods were carried is or is not under charter, the bill of lading plays a central role in the cargo claim. Since the bill of lading is an important international transport document, this paper examines, by chronicling the progress of a cargo claim as governed by the English law of contract. It finds that other than by contract, there are other modes of recovery available to a consignee or endorsee of a bill of lading to obtain a remedy under the sui generis contract of carriage contained in or evidenced by a bill of lading.

Keywords: bill of lading, cargo interests, carriage contract, transfer of right of suit

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Authors: Oentoeng Wahjoe

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Liberalisation of air transportation practically is known as open sky policy. In the practice, the liberalisation of air transportation is divided into two group of services, i.e.: air transportation services, for passengers and goods (air service) which is categorized as hard rights and supporting services of the air transportation services (ancillary services) which is categorized as soft rights. The research in this paper focused in air transportation services for passengers and goods, consists of nine freedom of the air. The impact of the policy such as the Agreement regarding ASEAN open sky policy, is the readiness of Indonesian air transportation companies to compete with foreign air transportation companies. The goverment of Indonesia has to regulate the implementation of ASEAN Open Sky Policy to be projected in order to comply with national development, i.e. the function of air law in national development. The policy has been implemented by enact or amend the existing law as air law that regulate flight lines, the following provisions: To regulate flight line for foreign airlines to open flight lines in Indonesia region which may not or have not land and sea transportation. The regulation is intended to supprot mobility of humans, goods and services that may fulfil the needs of the people of Indonesia, which materially and spiritually and the development of the region. The regulation of flight lines of foreign air transportation for region of tourism, industrial and trade centre. The regulation is intended to support the national economic development of Indonesia.

Keywords: transport, liberalization, impact, Indonesian air service

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Authors: Bakhtishod Matmuratov, Sakhiba Madraximova, Rakhmat Esanov, Alimjan Matchanov

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Studies have been performed to obtain complexes of glycyrrhizic acid and kinetins in a 2:1 ratio. The complex of glycyrrhizic acid and kinetins in a 2:1 ratio was considered evidence of the formation of a molecular complex by determining the molecular masses using chromato-mass spectroscopy and analyzing the IR spectra.

Keywords: monoammonium salt of glycyrrhizic acid, glycyrrhizic acid, supramolecular complex, isomolar series, IR spectroscopy

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Authors: Johannes Van Der Sandt

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This quantitative study investigates different approaches of community singing, in building social capital in South Tyrol, Italy, and South Africa. The impact of the various approaches of community singing is examined by investigating the main components of social capital, namely, social norms and obligations, social networks and associations and trust, and how these components are manifested in two different societies. The research is based on the premise that community singing is an important agent for the development of social capital. It seeks to establish in what form community singing can best enhance the social capital of communities in South Tyrol that are undergoing significant changes in the ways in which social capital is generally being generated on account of demographic, economic, technological and cultural changes. South Tyrol and South Africa share some similarities in the management of their multi-cultural composition. By comparing the different approaches to community singing in two multi-cultural societies, it is hoped to gain insight, and an understanding of the connections between culture, social cohesion, identity and therefore to be able to add to the understanding of the building of social capital through community singing. Participation in music contributes to the growth of social capital in communities, this is amongst others the finding of an ever increasing amount of research. In sociological discourses on social capital generation, the dimension of community music making is recognized as an important factor. Trust and mutual cooperation are products when people listen to each other, when they work or play together, and when they care about each other. This is how social capital develops as an important shared resource. Scholars of Community Music still do not agree on a short and concise definition for Community Music. For the purpose of this research, the author concurs with the definition of Community Music of the Community Music Activity commission of the International Society of Music Education as having the following characteristics: decentralization, accessibility, equal opportunity, and active participation in music-making. These principles are social and political ones, and there can be no doubt that community music activity is more than a purely musical one. Trust, shared norms and values civic and community involvement, networks, knowledge resources, contact with families and friends, and fellowship are key components in fostering group cohesion and social capital development in a community. The research will show that there is no better place for these factors to flourish than in a community singing group. Through this comparative study, it is the aim to identify, analyze and explain similarities and differences in approaches to community across societies that find themselves in a rapid transition from traditional cultural to global cultural habits characterized by a plurality of orientation points, with the aim to gain a better understanding of the various directions South Tyrolean singing culture can take.

Keywords: community music, multicultural, singing, social capital

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Authors: Ibrahim M. Alwehaibi

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Recently the windows of globalization weirdly open, which increase the trade between the Western countries and Muslim nations. Sales of goods contracts are one of the most common business transaction in the world. This commercial exchange has faced many obstacles. One of the most concerned obstacles is the conflicts between laws. Thus, United Nation created a Convention on Contracts for the International Sale of Goods (CISG). Some of Islamic countries have ratified the CISG, while other Islamic countries have concerns about the feasibility of ratification of the CISG, and many businessmen have a concern of application of the convention. The concerns related to the conflict between CISG and Sharia, and the long debate about the success, ambiguity, and stability of the CISG. Therefore, this research will examine the feasibility of Muslim countries and Muslim businessmen to adopt the CISG by following steps: First, this research will introduce sharia Law (Islamic contracts law) and CISG and provide backgrounds of both laws. Second, this research will compare the provisions of CISG and Sharia and figuring out the conflicts and provide possible solutions for the conflicts. Third, this study will examine the advantages and disadvantages of adopting the CISG and examining the success of the CISG. Fourth, this study will explore the current situation in Islamic countries by taking Saudi Arabia as a case and explore how the application of Sharia law works and the possibility to enforce the CISG and explore the current practice of foreign Sales in Saudi Arabia. The research finds that there are some conflicts between CISG and Sharia Law. The most notable conflicts are interest and uncertainty in considerations. Also, this research finds that it seems that ratification of CISG is not beneficial for Muslim countries because the convention has not reached its goal which is uniformity of laws. Moreover, the CISG has been excluded and ignored by businessmen and some courts. Additionally, this research finds that it could be possible to enforce CISG in Saudi Arabia, provided that no conflict between the enforced provision and Sharia Law. This study is following the competitive and analysis methodologies to reach its findings. The researcher analyzes the provision of CISG and compares them with Sharia rules and finds the conflicts and compatibilities. In fact, CISG has 101 articles, so a comprehensive comparison of all articles in CISG with Sharia is difficult. Thus, in order to deeply analyze all aspects of this issue, this study will exclude some areas of contract which have been discussed by other researchers such as deliver of goods, conformity, and mirror image rules. The comparative section of this study will focus on the most concerned articles that conflict or doubtful of conflict with Sharia, which are interest, uncertainty, statute of limitation, specific performance, and pass of risk.

Keywords: Sharia, CISG, Contracts for International Sale of Goods, contracts, sale of goods, Saudi Arabia

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Authors: Xueli Tang, Lei Zhao, Shenghao Zhu

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This study investigates the income distribution in a dynamic assignment model with human capital accumulation and endogenous firm size. Positive assortative matching between bosses and workers arises in labor market equilibrium. We solve the stationary equilibrium of two endogenous functions, the matching rule and human capital distribution; we also decompose two channels affecting the equilibrium matching rule, firm-size effect, and endogenous distribution effect. Finally, we perform a perturbation analysis of the equilibrium matching rule and the wage function and examine the effects of technology improvement on income inequality.

Keywords: income distribution, matching, human-capital accumulation, firm size, perturbation method

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Authors: Lihyo Sung

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Background: Children and teens in Korea experience extreme levels of academic stress. To perform better on the college entrance exam and gain admission to Korea’s most prestigious universities, they devote a significant portion of their early lives to studying. Because of their excessive preparation for entrance exams, students have become accustomed to passive and involuntary engagement. Any student starting university, however, faces new challenges that require more active involvement and self-regulated practice. As a way to tackle this issue, the study focuses on investigating the mediating effects of positive psychological capital on the relationship between self-leadership and career maturity among Korean university students. Objectives and Hypotheses: The long term goal of this study is to offer insights that promote the use of positive psychological interventions in the development and adaptation of career maturity. The current objective is to assess the role of positive psychological capital as a mediator between self-leadership and career maturity among Korean university students. Based on previous research, the hypotheses are: (a) self-leadership will be positively associated with indices of career maturity, and (b) positive psychological capital will partially or fully mediate the relationship between self-leadership and career maturity. Sample Characteristics and Sample Size: Participants in the current study consisted of undergraduate students enrolled in various courses at 5 large universities in Korea. A total of 181 students participated in the study. Methodology: A quantitative research design was adopted to test the hypotheses proposed in the current study. By using a cross-sectional approach to research, a self-administered questionnaire was used to collect data on indices of positive psychological capital, self-leadership, and career maturity. The data were analyzed by means of Cronbach's alpha, Pierson correlation test, multiple regression, path analysis, and SPSS for Windows version 22.0 using descriptive statistics. Results: Findings showed that positive psychological capital fully mediated the relationship between self-leadership and career maturity. Self-leadership significantly impacted positive psychological capital and career maturity, respectively. Scientific Contribution: The results of the current study provided useful insights into the role of psychological strengths such as positive psychological capital in improving self-leadership and career maturity. Institutions can assist in increasing positive psychological capital through the creation of positive experiences for undergraduate students, such as opportunities for coaching and mentoring.

Keywords: career maturity, mediating role, positive psychological capital, self-leadership

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Authors: Ligia Alberto

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This study examined the underrepresentation of women of color in school leadership roles. Using social capital as the theoretical framework, this study explored the role of mentoring relationships in the career advancement and promotion of Latina school leaders. This study showed that informal mentoring relationships are essential to the promotion of women of color. Most of the mentoring relationships were established through close work with their immediate supervisors. This study suggests having informal mentors facilitated Latina women's aspirations to become school leaders and counteract the pattern of underrepresentation of Latinas in such roles.

Keywords: women of color, school leadership, social capital, mentoring

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Authors: Zichun Chu

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The issue of tribal poverty has always attracted attentions. Due to social and economic difficulties, the indigenous people's personal development and tribal development have been greatly restricted. Past studies have pointed out that poverty may come from a lack of education. The United Nations Sustainable Development Goals (SDGs) also stated that if we are to solve the poverty problem, providing education widely is an important key. According to the theory of intellectual capital adaptation, “being capable” and “willing to do” are the keys of development. Therefore, we can say that the "ability" and "will" of tribal residents for their tribal development is the core concern of the tribal development. This research was designed to investigate the career choice development model of indigenous tribe people by investigating the current status of human capital, social capital, and cultural capital of tribal residents. This study collected 327 questionnaires (70% of total households) from Truku tribe to answer the research question: Did education help them for job choosing decisions from the aspects of human capital, social capital, and cultural capital in tribal status. This project highlighted the ‘single tribal research approach’ to gain an in-depth understanding of the human capital formed under the unique culture of the tribe (Truku tribe). The results show that the education level of most research participants was high school, very few high school graduates chose to further their education to college level; due to the lack of education of their parents, the social capital was limited to support them for jobs choice, most of them work for labor and service industries; however, their culture capital was comparably rich for works, the sharing culture of Taiwanese indigenous people made their work status stable. The results suggested that we should emphasize more on the development of vocational education based on the tribe’s location and resources. The self-advocacy of indigenous people should be developed so that they would gain more power on making career decisions. This research project is part of a pilot project called “INDIGENOUS PEOPLES, POVERTY, AND DEVELOPMENT,” sponsored by the National Science and Technology Council of Taiwan. If this paper were accepted to present in the 2023 ICIP, it would be lovely if a panel is formed for me and other co-researchers (Chuanju Cheng, Chih-Yuan Weng, and YiXuan Chen), for the audience will be able to get a full picture of this pilot project.

Keywords: career choices, career model, indegenous career development, indigenous education, tribe

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Authors: Oksana Domkina

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According to the modern economic theory, human capital became one of the main production factors and the most promising direction of investment, as such investment provides opportunity of obtaining high and long-term economic and social effects. Informational technology (IT) sector is the representative of this new economy which is most dependent on human capital as the main competitive factor. So the question for this sector is not whether investment in development of personal should be made, but what are the most effective ways of executing it and who has to pay for the education: Worker, company or government. In this paper we examine the IT sector, describe the labor market of IT workers and its development, and analyze the risks that IT companies may face if they invest in the development of their workers and what factors influence it. The main problem and difficulty of quantitative estimation of risk of investment in human capital of a company and its forecasting is human factor. Human behavior is often unpredictable and complex, so it requires specific approaches and methods of assessment. To build a comprehensive method of estimation of the risk of investment in human capital of a company considering human factor, we decided to use the method of analytic hierarchy process (AHP), that initially was created and developed. We separated three main group of factors: Risks related to the worker, related to the company, and external factors. To receive data for our research, we conducted a survey among the HR departments of Ukrainian IT companies used them as experts for the AHP method. Received results showed that IT companies mostly invest in the development of their workers, although several hire only already qualified personnel. According to the results, the most significant risks are the risk of ineffective training and the risk of non-investment that are both related to the firm. The analysis of risk factors related to the employee showed that, the factors of personal reasons, motivation, and work performance have almost the same weights of importance. Regarding internal factors of the company, there is a high role of the factor of compensation and benefits, factors of interesting projects, team, and career opportunities. As for the external environment, one of the most dangerous factor of risk is competitor activities, meanwhile the political and economical situation factor also has a relatively high weight, which is easy to explain by the influence of severe crisis in Ukraine during 2014-2015. The presented method allows to take into consideration all main factors that affect the risk of investment in human capital of a company. This gives a base for further research in this field and allows for a creation of a practical framework for making decisions regarding the personnel development strategy and specific employees' development plans for the HR departments.

Keywords: risks, personnel development, investment in development, factors of risk, risk of investment in development, IT, analytic hierarchy process, AHP

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Authors: Prakash Singh, Thembinkosi Twalo

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The sustainability of the Buffalo City Metropolitan Municipality (BCMM), in South Africa, is being threatened by the reported cases of poor administration, weak management of resources, inappropriate job performance, and inappropriate job behaviour of some of the workers. Since the structural-functionalists assume that formal education is a solution to societal challenges, it therefore means that the BCMM should not be experiencing this threat since many of its workers have various levels of formal education. Consequently, this study using the mixed method research approach, set out to investigate the paradoxical co-existence of inappropriate job behaviour and performance with formal education at the BCMM. Considering the impact of human factors in the labour process, this study draws attention to the divergent objectives of skill and skill bearer, with the application of knowledge subject to the knowledge bearer’s motives, will, attitudes, ethics and values. Consequently, inappropriate job behaviour and performance practices could be due to numerous factors such as lack of the necessary capabilities or refusal to apply what has been learnt due to racial or other prejudices. The role of the human factor in the labour process is a serious omission in human capital theory, which regards schooling as the only factor contributing to the ability to do a job. For this reason this study’s theoretical framework is an amalgamation of the four theories - human capital, social capital, cultural capital, and reputation capital – in an effort to obtain a broader view of the factors that shape job behaviour and performance. Since it has been established that human nature plays a crucial role in how workers undertake their responsibilities, it is important that this be taken into consideration in the BCMM’s monitoring and evaluation of the workers’ job performance practices. Hence, this exploratory study brings to the fore, the effects of poor job performance practices on the job satisfaction of workers.

Keywords: human capital, poor job performance practices, service delivery, workers’ job satisfaction

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