Search results for: theoretical aspects

Authors: Anoop Kumar Suraj

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Dr Rammanohar Lohia (1910-67), a radical Indian socialist thinker, left an unfinished and critical oeuvre of works on ‘Social Revolution’, argued for the necessity of fundamentally reordering our social structures and offered the ideological framework for such a radical change. An alternative kind of democratic political action called Saat Krantiya, or ‘seven revolutions’, sought to establish socialism with a strong cultural and historical foundation in Indian society. Lohia cautiously adopted civil disobedience [a Gandhian tool] as a means of seven revolutions as a mode of revolution. He saw Indian youth as the vanguard of the social revolution and claimed that the ideas of ‘constructive militancy’ and ‘militant construction’ were at the core of such a revolution. This paper demonstrates that Lohia presented a unique short theoretical paradigm to interpret history and revolution, and Sapta Kranti was a normative framework to arrive at an egalitarian society.

Keywords: Rammanohar Lohia, Sapt Kranti, matter and spirit, caste-class, human approximation

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Authors: Bharatendra Rai

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Predictive data analysis and modeling involving machine learning techniques become challenging in presence of too many explanatory variables or features. Presence of too many features in machine learning is known to not only cause algorithms to slow down, but they can also lead to decrease in model prediction accuracy. This study involves housing dataset with 79 quantitative and qualitative features that describe various aspects people consider while buying a new house. Boruta algorithm that supports feature selection using a wrapper approach build around random forest is used in this study. This feature selection process leads to 49 confirmed features which are then used for developing predictive random forest models. The study also explores five different data partitioning ratios and their impact on model accuracy are captured using coefficient of determination (r-square) and root mean square error (rsme).

Keywords: housing data, feature selection, random forest, Boruta algorithm, root mean square error

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Authors: Zahra Abdolkarimi, Naser Zouri

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The actual purpose of RoboCup is creating independent team of robots in 2050 based of FiFa roles to bring the victory in compare of world star team. There is unbelievable growing of Robots created a collection of complex and motivate subject in robotic and intellectual ornate, also it made a mechatronics style base of theoretical and technical way in Robocop. Decision making of robots depends to environment reaction, self-player and rival player with using inductive Fuzzy system valuation subsidiary to solve issue of robots in land game. The measure of selection in compare with other methods depends to amount of victories percentage in the same team that plays accidentally.

Keywords: particle swarm optimization, chaos theory, inference fuzzy system, simulation environment rational fuzzy system, mamdani and assilian, deffuzify

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Authors: Vivian Orsi

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In this research, we aim to investigate the lexicon of women's magazines, with special attention to fashion, whose universe is very receptive to lexical borrowings, especially those from English, called Anglicisms. Thus, we intend to discuss the presence of English items and expressions on the online French women's magazine Glamour France collected from six months. Highlighting the quantitative aspects of the use of English in that publication, we can affirm that the use of those lexical borrowings seems to represent sophistication to attract readers and identification with other cultures, establishing communication and intensifying the language of fashion. The potential for creativity in fashion lexicon is made possible by its permeability to social and linguistic phenomena across all social classes that allow constant manipulation of genuine borrowings. Besides, it seems to assume the value of prerequisite to participate in the fashion centers of the world. The use of Anglicisms in Glamour France is not limited to designate concepts and fashionable items that have no equivalent in French, but it acts as a kind of seduction tool, which uses the symbolic capital of English as the global language of communication.

Keywords: Anglicisms, lexicology, borrowings, fashion language

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Authors: Abdulai Abubakari

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The rollercoaster relationship between farmers and herders in Sub-Saharan Africa has compelled most governments to undertake different mitigating strategies. Over the past two decades, the expulsion of migrant herdsmen, the killing of cattle and human beings, and fines have been used by the state and aggrieved individuals to resolve the conflicts. Unlike this paper, most of the research conducted on this subject matter has been largely theoretical and lacks practical solutions to the conflicts. This paper is unique because it focuses on concrete strategies and practical solutions to ending the century-old phenomenon of farmer-herder conflicts in Ghana. The paper employed power or compete (fight) theory as well as compromise and negotiation theories in the analyses. The paper employed, basically, socio-anthropological methods: interviews, focus group discussions, and observations to gather data. The paper found that compromises through negotiation with the stakeholders are the best ways of resolving these conflicts. Through this, we support the compromise and negotiation approach rather than expulsion to resolve farmer-herder conflicts.

Keywords: farmer-herder, conflict, prevention, strategies, stakeholders

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Authors: Abdulrahman Abdulrahman, Abir Abdulrahman

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Free over-fall is an instrument for measuring discharge in open channels by measuring end depth. A comprehensive researchers investigated theoretically and experimentally brink phenomenon with various approaches for different cross-sectional shapes. Anderson's method, based on Boussinq's approximation and energy approach was used to derive a pressure distribution factor at end depth. Applying the one-dimensional momentum equation and the principles of limit slope analysis, a relevant analytical solution may be derived for brink depth ratio (EDR) in prismatic rectangular channel. Also relationships between end depth ratio and slope ratio for a given non-dimensional normal or critical depth with upstream supercritical flow regime are presented. Simple indirect procedure is used to estimate the end depth discharge ratio (EDD) for subcritical and supercritical flow using measured end depth. The comparison of this analysis with all previous theoretical and experimental studies showed an excellent agreement.

Keywords: analytical solution, brink depth, end depth, flow measurement, free over fall, hydraulics, rectangular channel

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Authors: Rafayel Azizyan, Valeri Arakelyan, Aram Gevorgyan, Varduhi Balayan, Emil Gevorgyan

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Currently, mathematical and computer modeling are widely used in different biological studies to predict or assess behavior of such complex systems as biological ones. This study deals with mathematical and computer modeling of bi-substrate enzymatic reactions, which play an important role in different biochemical pathways. The main objective of this study is to represent the results from in silico investigation of bi-substrate enzymatic reactions in the presence of uncompetitive inhibitors, as well as to describe in details the inhibition effects. Four models of uncompetitive inhibition were designed using different software packages. Particularly, uncompetitive inhibitor to the first [ES1] and the second ([ES1S2]; [FS2]) enzyme-substrate complexes have been studied. The simulation, using the same kinetic parameters for all models allowed investigating the behavior of reactions as well as determined some interesting aspects concerning influence of different cases of uncompetitive inhibition. Besides that shown, that uncompetitive inhibitors exhibit specific selectivity depending on mechanism of bi-substrate enzymatic reaction.

Keywords: mathematical modeling, bi-substrate enzymatic reactions, reversible inhibition

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Authors: Chih-Wen Wu

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This study examines the antecedents of heritage tourism loyalty and its relation to destination image, consumer travel experience, and destination satisfaction in the tourism context. In this respect, a number of important questions concerning how destination image, consumer travel experience, and destination satisfaction impact destination loyalty are raised. This study attempts to identify three key antecedents of loyalty in the heritage context. The author empirically tests predicted relationships by using personal interview data from 475 foreign tourists. The conceptual model investigated the relevant relationships among the constructs by using confirmatory factor analysis(CFA) and structural equation modeling (SEM) approach. Findings from the research sample support the argument that destination image, consumer travel experience, destination satisfaction are the key determinants of destination loyalty. Destination image and consumer travel experience influence destination satisfaction. The author also discusses theoretical and managerial implications of research findings for marketing the heritage globally.

Keywords: heritage, destination loyalty, destination image, consumer travel experience, destination satisfaction, tourism

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Authors: Pavlo Selyshchev, Samuel Akintunde

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A theoretical approach to consider formation of chemical compound layer at the interface between initial substances A and B due to the interfacial interaction and diffusion is developed. It is considered situation when speed of interfacial interaction is large enough and diffusion of A-atoms through AB-layer is much more then diffusion of B-atoms. Atoms from A-layer diffuse toward B-atoms and form AB-atoms on the surface of B-layer. B-atoms are assumed to be immobile. The growth kinetics of the AB-layer is described by two differential equations with non-linear coupling, producing a good fit to the experimental data. It is shown that growth of the thickness of the AB-layer determines by dependence of chemical reaction rate on reactants concentration. In special case the thickness of the AB-layer can grow linearly or parabolically depending on that which of processes (interaction or the diffusion) controls the growth. The thickness of AB-layer as function of time is obtained. The moment of time (transition point) at which the linear growth are changed by parabolic is found.

Keywords: phase formation, binary systems, interfacial reaction, diffusion, compound layers, growth kinetics

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Authors: Panagiotis Kosmas, Panayiotis Zaphiris

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Embodied Cognition (EC) as a learning paradigm is based on the idea of an inseparable link between body, mind, and environment. In recent years, the advent of theoretical learning approaches around EC theory has resulted in a number of empirical studies exploring the implementation of the theory in education. This systematic literature overview identifies the mainstream of EC research and emphasizes on the implementation of the theory across learning environments. Based on a corpus of 43 manuscripts, published between 2013 and 2017, it sets out to describe the range of topics covered under the umbrella of EC and provides a holistic view of the field. The aim of the present review is to investigate the main issues in EC research related to the various learning contexts. Particularly, the study addresses the research methods and technologies that are utilized, and it also explores the integration of body into the learning context. An important finding from the overview is the potential of the theory in different educational environments and disciplines. However, there is a lack of an explicit pedagogical framework from an educational perspective for a successful implementation in various learning contexts.

Keywords: embodied cognition, embodied learning, education, technology, schools

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Authors: Rafida M. Elobaid

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Most of the literature on goodness-of-fit test try to provide a theoretical basis for studying empirical distribution functions. Such goodness-of-fit tests are Kolmogorove-Simirnov and Crumer-Von Mises Type tests. However, it is likely that most of literature has not focused in details on the relationship of the values of the test statistics and skewness or kurtosis. The aim of this study is to investigate the behavior of the values of the χ2 test statistic with the variation of the skewness of right skewed distribution. A simulation study is conducted to generate random numbers from Weibull distribution. For a fixed sample sizes, different levels of skewness are considered, and the corresponding values of the χ2 test statistic are calculated. Using different sample sizes, the results show an inverse relationship between the value of χ2 test and the level of skewness for Wiebull distribution, i.e the value of χ2 test statistic decreases as the value of skewness increases. The research results also show that with large values of skewness we are more confident that the data follows the assumed distribution. Nonparametric Kendall τ test is used to confirm these results.

Keywords: goodness-of-fit test, chi-square test, simulation, continuous right skewed distributions

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Authors: Charles Anthony S. Santillan, Jude Noel P. Jarina, Patricia Mae A. Cuevas, Julito B. Añora Jr.

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The research examines the effectiveness of Two-Position and Tuned PID controllers in magnetic levitation systems. Magnetic levitation, a crucial technology in diverse industries, depends on meticulous control mechanisms for stability and performance. The study seeks to compare these two control strategies to ascertain their efficacy in practical applications. The paper explores the theoretical foundations of the controllers, presents an experimental methodology emphasizing setup and installation, and examines the results about stability, response time, and susceptibility to disturbances. By interpreting and discussing the findings, the research provides valuable perspectives on the practical ramifications of utilizing Two-Position and Tuned PID controllers in magnetic levitation systems. The conclusion encapsulates significant outcomes and proposes avenues for future research, thereby contributing to the progress of control strategies in magnetic levitation technology.

Keywords: arduino, comparative analysis, magnetic levitation, tuned PID controller, two-position controller

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Authors: Mohammad Ali Badri, Pouya Molana, Amin Rezvanpour

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In this paper, planning catamaran and mono-hull vessels resistance and trim in calm waters were considered. Hydrodynamic analysis of fast mono-hull planning vessel was also investigated. In order to hull form geometry optimization, numerical methods of different parameters were used for this type of vessels. Hull material was selected in carbon fiber composite. Exact architectural aspects were specified and stability calculations were performed as well. Hydrodynamic calculations to extract the resistance force using semi-analytical methods and numerical modeling were carried out. Free surface numerical analysis of vessel in designed draft using finite volume method and double phase were evaluated and verified by experimental tests.

Keywords: fast vessel, hydrostatic and hydrodynamic optimization, free surface flow, computational fluid dynamics

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Authors: Ravinu Garg, Naresh V. Datla

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We study the fracture mechanics of peeling of thin films perfectly bonded to a rigid substrate of any random surface topology using an analytical formulation. A generalized theoretical model has been developed to determine the peel strength of thin elastic films. It is demonstrated that an improvement in the peel strength can be achieved by modifying the surface characteristics of the rigid substrate. Characterization study has been performed to analyze the effect of different parameters on effective peel force from the rigid surface. Different surface profiles such as circular and sinusoidal has been considered to demonstrate the bonding characteristics of film-substrate interface. Condition for the instability in the debonding of the film is analyzed, where the localized self-debonding arises depending upon the film and surface characteristics. This study is towards improved adhesion strength of thin films to rigid substrate using different textured surfaces.

Keywords: debonding, fracture mechanics, peel test, thin film adhesion

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Authors: Smail Tigani, Mohamed Ouzzif

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This work presents a discrete quantitative state prediction algorithm with intelligent behavior making it able to self-improve some performance aspects. The specificity of this algorithm is the capacity of self-rectification of the prediction strategy before the final decision. The auto-rectification mechanism is based on two parallel mathematical models. In one hand, the algorithm predicts the next state based on event transition matrix updated after each observation. In the other hand, the algorithm extracts its residues trend with a linear regression representing historical residues data-points in order to rectify the first decision if needs. For a normal distribution, the interactivity between the two models allows the algorithm to self-optimize its performance and then make better prediction. Designed key performance indicator, computed during a Monte Carlo simulation, shows the advantages of the proposed approach compared with traditional one.

Keywords: discrete state, Markov Chains, linear regression, auto-adaptive systems, decision making, Monte Carlo Simulation

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Authors: Bahareh Asefi, Fereidoun Farzaneh, Ghazaleh Asefi, Chang-Ping Yu

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Increased production of food waste (FW) is a global issue that is receiving more attention due to its environmental and economic impacts. The generation of electricity from food waste, known as energy recovery, is one of the effective solutions in food waste management. Food waste has high energy content which seems ideal to achieve dual benefits in terms of energy recovery and waste stabilization. Microbial fuel cell (MFC) is a promising technology for treating food waste and generate electricity. In this work, we will review energy utilization from different kind of food waste using MFC and factors which affected the process. We have studied the key technology of energy generated from food waste using MFC to enhance the food waste management. The power density and electricity production by each kind of food waste and challenges were identified. This work explored the conversion of FW into energy from different type of food waste, which aim to provide a theoretical analysis for energy utilization of food waste.

Keywords: energy generation, food waste, microbial fuel cell, power density

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Authors: Anuradha Ranawakage, Nimalashanithi Amarasekara

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Supply chain resilience and sustainability have received great attention from both academia and business professionals since last few decades. However, the relationship between supply chain resilience and sustainability has not been empirically tested in the apparel industry, where both concepts play a crucial role. Thus, this study aims to investigate how supply chain resilience strategies (digital connectivity, inventory and reserve capacity, and collaboration) impact the supply chain sustainability of export-oriented apparel manufacturing companies in Sri Lanka. An online questionnaire was used to collect data on the impact of supply chain resilience strategies on the supply chain sustainability of 99 apparel companies operating in Sri Lanka. This research makes a significant contribution to the field of supply chain management by assessing the impact of supply chain resilience strategies on supply chain sustainability in the context of the developing country, Sri Lanka, where economic crises and the pandemic have had a profound impact on the apparel industry. The findings have important theoretical and managerial implications for maintaining congruence between supply chain resilience and supply chain sustainability in the long run.

Keywords: supply chain resilience, supply chain sustainability, apparel, supply chain

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Authors: Bouba Oumarou Aboubakar, HongXia Li, Sardar Annes Farooq

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The Belt and Road Initiative’s success strongly depends on the safety of all the million workers on construction projects sites. As the new BRI is directed toward Africa and meets a completely different culture from the Chinese project managers, maintaining low risk for workers risks shall be closely related to cultural sharing and mutual understanding. This is why this work introduces a cultural-wise safety management framework for Chinese Construction projects in Africa. The theoretical contribution of this paper is an improved risk assessment framework that integrates language, culture and difficulty of controlling risk factors into one approach. Practically, this study provides not only a useful tool for project safety management practitioners but the full understanding of all risks that may arise in the BRI projects in Africa.

Keywords: cultural-wise, safety culture, risk assessment, Chinese construction, BRI projects, Africa

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Authors: Alagie Salieu Nankey

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Flood-resistant house is the key mechanism to withstand flood hazards in Ebo-Town. It emerged simple yet powerful way of mitigating flooding in the community of Ebo- Town. Even though there are different types of buildings, little is known yet how and why flood affects building severely. In this paper, we examine three different types of flood-resistant buildings that are suitable for Ebo Town. We gather content and contextual features from six (6) respondents and used this data set to identify factors that are significantly associated with the flood-resistant house. Moreover, we built a suitable design concept. We found that amongst all the theories studied in the literature study Slit or Elevated House is the most suitable building design in Ebo-Town and Pile foundation is the most appropriate foundation type in the study area. Amongst contextual features, local materials are the most economical materials for the proposed design. This research proposes a framework that explains the theoretical relationships between flood hazard zones and flood-resistant houses in Ebo Town. Moreover, this research informs the design of sense-making and analytics tools for the resistant house.

Keywords: flood-resistant, slit, flood hazard zone, pile foundation

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Authors: Ioannis Manikas

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The increased consumer demand for environmentally friendly production and distribution practices and the stricter environmental regulations turned environmental aspects into important criteria in business decision-making. On the other hand, Food and Nutrition Security (FNS) has evolved dramatically during the last decades in theory and practice serving as a reference point for exchanging experiences among all agents involved in programs and projects to fostering policy and strategy development. Global pressures make it more important than ever to gain a better understanding of the contribution that agrifood businesses make to FNS and to examine ways to make them more resilient in an increasingly globalized and uncertain world. This study extends the standard three-dimensional model of sustainability to include two more dimensions: A technological dimension and a policy/political dimension. Apart from the economic, environmental and social dimensions regularly used in sustainability literature, the extended model will accurately represent the measures and policies addressing food and nutrition security.

Keywords: food and nutrition security, sustainability, food safety, resilience

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Authors: Lakhdar Zaid, Albane Sangiovanni

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A reconfigurable microstrip patch antenna with polyphase filter for polarization diversity and cross polarization filtering operation is presented in this paper. In our approach, a polyphase filter is used to obtain the four 90° phase shift outputs to feed a square microstrip patch antenna. The antenna can be switched between four states of polarization in transmission as well as in receiving mode. Switches are interconnected with the polyphase filter network to produce left-hand circular polarization, right-hand circular polarization, horizontal linear polarization, and vertical linear polarization. Additional advantage of using polyphase filter is its filtering capability for cross polarization filtering in right-hand circular polarization and left-hand circular polarization operation. The theoretical and simulated results demonstrated that polyphase filter is a good candidate to drive microstrip patch antenna to accomplish polarization diversity and cross polarization filtering operation.

Keywords: active antenna, polarization diversity, patch antenna, polyphase filter

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Authors: Shahzad Hassan, Kamran Saeed

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People are always in search of Wi-Fi hotspots because Internet is a major demand nowadays. But like all other technologies, there is still room for improvement in the Wi-Fi technology with regards to the speed and quality of connectivity. In order to address these aspects, Harald Haas, a professor at the University of Edinburgh, proposed what we know as the Li-Fi (Light Fidelity). Li-Fi is a new technology in the field of wireless communication to provide connectivity within a network environment. It is a two-way mode of wireless communication using light. Basically, the data is transmitted through Light Emitting Diodes which can vary the intensity of light very fast, even faster than the blink of an eye. From the research and experiments conducted so far, it can be said that Li-Fi can increase the speed and reliability of the transfer of data. This paper pays particular attention on the assessment of the performance of this technology. In other words, it is a 5G technology which uses LED as the medium of data transfer. For coverage within the buildings, Wi-Fi is good but Li-Fi can be considered favorable in situations where large amounts of data are to be transferred in areas with electromagnetic interferences. It brings a lot of data related qualities such as efficiency, security as well as large throughputs to the table of wireless communication. All in all, it can be said that Li-Fi is going to be a future phenomenon where the presence of light will mean access to the Internet as well as speedy data transfer.

Keywords: communication, LED, Li-Fi, Wi-Fi

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Authors: Buddhi Arachchige, Hessam Ghasemnejad

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In this study, the post impact behavior of curved composite plates subjected to low velocity impact was studied analytically and numerically. Approaches to damage modelling are proposed through the degradation of stiffness in the damaged region by reduction of thickness in the damage region. Spring-mass models were used to model the impact response of the plate and impactor. The study involved designing two damage models to compare and contrast the model best fitted with the numerical results. The theoretical force-time responses were compared with the numerical results obtained through a detailed study carried out in LS-DYNA. The modified damage model established a good prediction with the analytical force-time response for different layups and geometry. This study provides a gateway in selecting the most effective layups for variable stiffness curved composite panels able to withstand a higher impact damage.

Keywords: analytical modelling, composite damage, impact, variable stiffness

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Authors: Ben Nwokenkwo, Michael M. Eze, Felix Ike

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The need to study trends in land values around institutions of higher learning cannot be overemphasized. Numerous studies in Nigeria have investigated the economic, and social influence of the sitting of institutions of higher learning at the micro, meso and macro levels. However, very few studies have evaluated the temporal extent at which such institution influences local land values. Since institutions greatly influence both the physical and environmental aspects of their immediate vicinity, attention must be taken to understand the influence of such changes on land values. This study examines the trend in land values using the Mann-Kendall analysis in order to determine if, between its beginning and end, a monotonic increase, decrease or stability exist in the land values across six institutions of higher learning for the period between 2004 and 2014. Specifically, The analysis was applied to the time series of the price(or value) of the land .The results of this study revealed that land values has either been increasing or remained stabled across all the institution sampled. The study finally recommends measures that can be put in place as counter magnets for land values estimation across institutions of higher learning.

Keywords: influence, land, trend, value

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Authors: Ionel Zagan, Vasile Gheorghita Gaitan

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The development of CPUs and of real-time systems based on them made it possible to use time at increasingly low resolutions. Together with the scheduling methods and algorithms, time organizing has been improved so as to respond positively to the need for optimization and to the way in which the CPU is used. This presentation contains both a detailed theoretical description and the results obtained from research on improving the performances of the nMPRA (Multi Pipeline Register Architecture) processor by implementing specific functions in hardware. The proposed CPU architecture has been developed, simulated and validated by using the FPGA Virtex-7 circuit, via a SoC project. Although the nMPRA processor hardware structure with five pipeline stages is very complex, the present paper presents and analyzes the tests dedicated to the implementation of the CPU and of the memory on-chip for instructions and data. In order to practically implement and test the entire SoC project, various tests have been performed. These tests have been performed in order to verify the drivers for peripherals and the boot module named Bootloader.

Keywords: hardware scheduler, nMPRA processor, real-time systems, scheduling methods

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Authors: Kamalendu Pal

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Supply chains are the spinal cord of trade and commerce. Their logistics use different transport corridors on regular basis for operational purpose. The international supply chain transport corridors include different infrastructure elements (e.g. weighbridge, package handling equipment, border clearance authorities, and so on) in supply chains. This paper presents the use of multi-agent systems (MAS) to model and simulate some aspects of transportation corridors, and in particular the area of weighbridge resource optimization for operational profit generation purpose. An underlying multi-agent model provides a means of modeling the relationships among stakeholders in order to enable coordination in a transport corridor environment. Simulations of the costs of container unloading, reloading, and waiting time for queuing up tracks have been carried out using data sets. Results of the simulation provide the potential guidance in making decisions about optimal service resource allocation in a trade corridor.

Keywords: multi-agent systems, simulation, supply chain, transport corridor, weighbridge

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Authors: M. V. Manoj Kumar, Likewin Thomas, Annappa

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Process mining provides methods and techniques for analyzing event logs recorded in modern information systems that support real-world operations. While analyzing an event-log, state-of-the-art techniques available in process mining believe that the operational process as a static entity (stationary). This is not often the case due to the possibility of occurrence of a phenomenon called concept drift. During the period of execution, the process can experience concept drift and can evolve with respect to any of its associated perspectives exhibiting various patterns-of-change with a different pace. Work presented in this paper discusses the main aspects to consider while addressing concept drift phenomenon and proposes a method for detecting and localizing the sudden concept drifts in control-flow perspective of the process by using features extracted by processing the traces in the process log. Our experimental results are promising in the direction of efficiently detecting and localizing concept drift in the context of process mining research discipline.

Keywords: abrupt drift, concept drift, sudden drift, control-flow perspective, detection and localization, process mining

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Authors: Firano Zakaria, Filali Adib Fatine

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The issue f convergence in theoretical models (classical or Keynesian) has been widely discussed. The results of the work affirm that most countries are seeking to get as close as possible to a steady state in order to catch up with developed countries. In this paper, we have retested this question whether it is absolute or conditional. The results affirm that the degree of convergence of countries like Morocco is very low and income is still far from its equilibrium state. Moreover, the analysis of financial convergence, of the countries in our panel, states that the pace in this sector is more intense: countries are converging more rapidly in financial terms. The question arises as to why, with a fairly convergent financial system, growth does not respond, yet the financial system should facilitate this economic convergence. Our results confirm that the degree of information exchange between the financial system and the economic system did not change significantly between 1985 and 2017. This leads to the hypothesis that the financial system is failing to serve its role as a creator of information in developing countries despite all the reforms undertaken, thus making the existence of an economic demon in the Maxwell prevail.

Keywords: economic convergence, financial convergence, financial system, entropy

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Authors: Lisandy Arinta Suryana, Santi Novani, Utomo Sarjono

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Paradox of business strategic is associated with the contradictory practice. It becomes one of the critical way to survive and win in the dynamic competitive landscape – high level of uncertainty and rapid change in the business environment. Those characteristics are similar with the environment of hijab fashion business, especially in Indonesia. This paper aims to describe the success of paradoxical strategic based on historical data of hijab fashion business which have been validated by qualitative approach. This paper discusses two main aspects of paradoxical strategic such as paradox in human resource management, and logistic center management. Then, the detail effects from each practice are described in term of causal loop diagram. Moreover, the practice of paradoxical strategic depends on leadership that can make a brave and dynamic decision by capturing the main problems and opportunities in their business, and also build commitment to achieve a specific goal.

Keywords: paradox of business strategic, paradoxical strategic, causal loop diagram, sustainable business, hijab fashion business, business strategic

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Authors: Ishay Wolf

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In this study, the financial position of pension actors in the market during the pension system transition toward a more funded capitalized scheme is explored, mainly via an option benefit model. This is enabled by not considering the economy as a single earning cohort. We analytically demonstrate a socio-economic anomaly in the funded pension system, which is in favor of high earning cohorts on at the expense of low earning cohorts. This anomaly is realized by a lack of insurance and exposure to financial and systemic risks. Furthermore, the anomaly might lead to pension re-reform back to unfunded scheme, mostly due to political pressure. We find that a minimum pension guarantee is a rebalance mechanism to this anomaly, which increases the probability to of the sustainable pension scheme. Specifically, we argue that implementing the guarantee with an intra-generational, risk-sharing mechanism is the most efficient way to reduce the effect of this abnormality. Moreover, we exhibit the convergence process toward implementing minimum pension guarantee in many countries which have capitalized their pension systems during the last three decades, particularly among Latin America and CEE countries.

Keywords: benefits, pension scheme, put option, social security

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