Search results for: economics and financial engineering

Authors: Annika Kjallman Alm, Ove Hellzen, Malin Rising-Holmstrom

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Worldwide, the number of people who are living with dementia is increasing because of an aging population, which leads to increased financial and social costs, including reduced quality of life for people with dementia and their care partners. Most people who have dementia reside in the community. Aging in place could be described as having the health and social supports and services you need to live safely and independently in your home or your society for as long as you wish and are able. People with dementia are not different than people without dementia where they want to remain at home, if possible, with a sense of familiarity and engagement in typical everyday activities. So how do persons with dementia or cognitive decline see their possibilities to be socially involved and experience support? The aim of this study was to explore persons with cognitive decline's sense of involvement and support living in the ordinary dwelling. The study was approved by the Ethical Review Authority in Sweden prior to the interviews. Interviews were conducted with 20 persons living at home, either alone or in a relationship. The persons had perceived cognitive decline; some were under investigation or already had a diagnose of early dementia. Thematic analysis was used to identify, analyze, and report patterns within the data. Researchers extracted three main themes through participants’ interviews: a) Importance of social involvement with family and friends. b) Hindrances for social involvement. c) Struggling mentally with a new life situation. Results found that going to activity centers, staying involved, and meeting friends and family enhanced the sense of involvement and support. There were also hindrances to a sense of involvement and support as they struggled with the diagnose and the changes in daily life, such as physical problems, mental problems, or economic issues. The mental struggle of accepting the cognitive decline and the changes in daily life it brought was also an issue for some of the participants. A multidimensional support should be provided by the community to enable persons with cognitive decline to stay involved in family and community in the comfort of their own homes.

Keywords: aging in place, cognitive decline, dementia, sense of involvement

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Authors: Tareq Nikzad

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Since the first bank was established in 1933, Afghanistan's banking sector has seen a number of variations but hasn't been able to grow to its full potential because of the civil war. The implementation of dual banks in Afghanistan is investigated in this study in relation to the effects of inflation and interest rates. This research took data from World Bank Data (WBD) over a period of nineteen years. For the banking sector, inflation, which is the general rise in prices of goods and services over time, presents considerable difficulties. The objectives of this research are to analyze the effect of inflation and interest rates on conventional and Islamic banks in Afghanistan, identify potential differences between these two banking models, and provide insights for policymakers and practitioners. A mixed-methods approach is used in the research to analyze quantitative data and qualitatively examine the unique difficulties that banks in Afghanistan's economic atmosphere encounter. The findings contribute to the understanding of the relationship between interest rate, inflation rate, and the performance of both banking systems in Afghanistan. The paper concludes with recommendations for policymakers and banking institutions to enhance the stability and growth of the banking sector in Afghanistan. Interest is described as "a prefixed rate for use or borrowing of money" from an Islamic perspective. This "prefixed rate," known in Islamic economics as "riba," has been described as "something undesirable." Furthermore, by using the time series regression data technique on the annual data from 2003 to 2021, this research examines the effect of CPI inflation rate and interest rate of Banking in Afghanistan.

Keywords: inflation, Islamic banking, conventional banking, interest, Afghanistan, impact

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Authors: Apra Sinha

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The inverted U-shaped Environmental Kuznets curve (EKC) demonstrates(pollution-income relationship)that initially the pollution and environmental degradation surpass the level of income per capita; however this trend reverses since at the higher income levels, economic growth initiates environmental upgrading. However, what effect does increased environmental degradation has on growth is the missing feedback link which has not been addressed in the EKC hypothesis. This paper examines the missing feedback link in EKC hypothesis in Indian context by examining the casual association between fossil fuel consumption, carbon dioxide emissions and economic growth for India. Fossil fuel consumption here has been taken as a proxy of driver of economic growth. The casual association between the aforementioned variables has been analyzed using five interventions namely 1) urban development for which urbanization has been taken proxy 2) industrial development for which industrial value added has been taken proxy 3) trade liberalization for which sum of exports and imports as a share of GDP has been taken as proxy 4)financial development for which a)domestic credit to private sector and b)net foreign assets has been taken as proxies. The choice of interventions for this study has been done keeping in view the economic liberalization perspective of India. The main aim of the paper is to investigate the missing feedback link for Environmental Kuznets Curve Hypothesis before and after incorporating the intervening variables. The period of study is from 1971 to 2011 as it covers pre and post liberalization era in India. All the data has been taken from World Bank country level indicators. The Johansen and Juselius cointegration testing methodology and Error Correction based Granger causality have been applied on all the variables. The results clearly show that out of five interventions, only in two interventions the missing feedback link is being addressed. This paper can put forward significant policy implications for environment protection and sustainable development.

Keywords: environmental Kuznets curve hypothesis, fossil fuel consumption, industrialization, trade liberalization, urbanization

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Authors: James Brown, Stella Kortekaas, Ian Finnie, George Zhang, Christine Devine, Neil Healy

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The use of GIS as an analysis tool for engineering decision making is now best practice in the offshore industry. GIS enables multidisciplinary data integration, analysis and visualisation which allows the presentation of large and intricate datasets in a simple map-interface accessible to all project stakeholders. Presenting integrated geoscience and geotechnical data in GIS enables decision makers to be well-informed. This paper is a successful case study of how GIS spatial analysis techniques were applied to help select the most favourable pipeline route. Routing a pipeline through any natural environment has numerous obstacles, whether they be topographical, geological, engineering or financial. Where the pipeline is subjected to external hydrostatic water pressure and is carrying pressurised hydrocarbons, the requirement to safely route the pipeline through hazardous terrain becomes absolutely paramount. This study illustrates how the application of modern, GIS-based pipeline routing techniques enabled the identification of a single most-favourable pipeline route crossing of a challenging seabed terrain. Conventional approaches to pipeline route determination focus on manual avoidance of primary constraints whilst endeavouring to minimise route length. Such an approach is qualitative, subjective and is liable to bias towards the discipline and expertise that is involved in the routing process. For very short routes traversing benign seabed topography in shallow water this approach may be sufficient, but for deepwater geohazardous sites, the need for an automated, multi-criteria, and quantitative approach is essential. This study combined multiple routing constraints using modern least-cost-routing algorithms deployed in GIS, hitherto unachievable with conventional approaches. The least-cost-routing procedure begins with the assignment of geocost across the study area. Geocost is defined as a numerical penalty score representing hazard posed by each routing constraint (e.g. slope angle, rugosity, vulnerability to debris flows) to the pipeline. All geocosted routing constraints are combined to generate a composite geocost map that is used to compute the least geocost route between two defined terminals. The analyses were applied to select the most favourable pipeline route for a potential gas development in deep water. The study area is geologically complex with a series of incised, potentially active, canyons carved into a steep escarpment, with evidence of extensive debris flows. A similar debris flow in the future could cause significant damage to a poorly-placed pipeline. Protruding inter-canyon spurs offer lower-gradient options for ascending an escarpment but the vulnerability of periodic failure of these spurs is not well understood. Close collaboration between geoscientists, pipeline engineers, geotechnical engineers and of course the gas export pipeline operator guided the analyses and assignment of geocosts. Shorter route length, less severe slope angles, and geohazard avoidance were the primary drivers in identifying the most favourable route.

Keywords: geocost, geohazard, pipeline route determination, pipeline route optimisation, spatial analysis

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Authors: Karim Monir Halim Salib

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The article discusses the use of modern technology to achieve environmental marketing goals in business and customer relations. The purpose of this article is to show the possibilities of the application of modern technology. In B2C relationships, marketing departments face challenges arising from the need to quickly segment customers and share information across multiple systems, which seriously hinders the achievement of marketing objectives. Therefore, the Article states that modern IT solutions are used in the marketing of business activities, taking into account environmental objectives. For this reason, its importance in the economic and social development of developing countries has increased. While traditional companies emphasize profit as the most important business principle, social enterprises have to address social issues at the expense of profit. This mindset gives social enterprises more than traditional businesses to meet the needs of those at the bottom of the pyramid. This also poses a great challenge for social business, as social business works for the public good on the one hand and financial stability on the other. Otherwise, the company cannot be evacuated. Cultures are involved in business communication and research. Using the example of language in international relations, the article poses the problem of cultural discourse in management and linguistic and cultural studies. After reviewing current research on language in international relations, this article presents communication methods in the international economy from a linguistic perspective and attempts to explain communication problems in business from the perspective of linguistic research. A step towards multidisciplinary research combining research in management and linguistics.

Keywords: international marketing, marketing mix, marketing research, small and medium-sized enterprises, strategic marketing, B2B digital marketing strategy, digital marketing, digital marketing maturity model, SWOT analysis consumer behavior, experience, experience marketing, marketing employee organizational performance, internal marketing, internal customer, direct marketing, mobile phones mobile marketing, Sms advertising.

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Authors: Ibrahim Aliyu Isah, Mohd Mansor Ismail, Salim Hassan, Norsida Bint Man

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Global and National contributions of Extension Agents in income derive through stingless beekeeping production as acknowledged globally as a new source of wealth creation, which contributes significantly to the positive, sustainable economic growth of Malaysia. A common specie, Trigona itama, production through effective utilization of highly competent agents of extension services led to high increase of output that guaranteed high income and sustainability to farmers throughout the study areas. A study on impacts of extension services on stingless bee production and its profitability and sustainability in both Peninsular Malaysia and East (Sarawak) Malaysia was conducted with the following objectives: (i) to examined various impacts of extension services on sustainability as variables in enhancing stingless beekeeping production for positive profitability. (ii) to determine the profitability and sustainability of stingless beekeeping production in the study area through transfer of technology and human resources development. The study covers a sample of beekeepers in ten states of Peninsular Malaysia and Sarawak. The sample size of 87 respondents were selected out of the population and 54 of filled questionnaires were retrieved. Capital budgeting analysis was carried out and economic performance was evaluated. Data collected was analysed using SPSS version 23.0. Correlation and Regression analyses were used. The capital budgeting analysis and government incentive schemes was incorporated in the applied projection of stingless bee farms. The result of Net Present Value (NPV) is determined as an accepted projection to the financial appraisal. The NPV in the study indicated positive outcome of production that can generate positive income and indicated efficient yield of investment and Profitability index (PI). In summary, it is possible for the extension services to increase output and hence increase profit which is sustainable for growth and development of agricultural sector in Malaysia.

Keywords: extension services, impacts, profitability and sustainability, Sarawak and peninsular Malaysia, trigona itama production

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Authors: Ali Shirazi, Robert A. Taylor, Stephen D. White, Graham L. Morrison

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In this paper, a detailed simulation model of a solar-powered triple-effect LiBr–H₂O absorption chiller is developed to supply both cooling and heating demand of a large-scale building, aiming to reduce the fossil fuel consumption and greenhouse gas emissions in building sector. TRNSYS 17 is used to simulate the performance of the system over a typical year. A combined energetic-economic-environmental analysis is conducted to determine the system annual primary energy consumption and the total cost, which are considered as two conflicting objectives. A multi-objective optimization of the system is performed using a genetic algorithm to minimize these objectives simultaneously. The optimization results show that the final optimal design of the proposed plant has a solar fraction of 72% and leads to an annual primary energy saving of 0.69 GWh and annual CO₂ emissions reduction of ~166 tonnes, as compared to a conventional HVAC system. The economics of this design, however, is not appealing without public funding, which is often the case for many renewable energy systems. The results show that a good funding policy is required in order for these technologies to achieve satisfactory payback periods within the lifetime of the plant.

Keywords: economic, environmental, multi-objective optimization, solar air-conditioning, triple-effect absorption chiller

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Authors: Vangelis Papadimitropoulos

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The paper is part of the research project “Techno-Social Innovation in the Collaborative Economy'', funded by the Hellenic Foundation of Research and Innovation for the years 2022-2024. The research project examines the normative and empirical conditions of grassroots technologically driven innovation, potentially enabling the transition towards a commons-oriented post-capitalist economy. The project carries out a conceptually led and empirically grounded multi-case study of the digital commons, open-source technologies, platform cooperatives, open cooperatives and Distributed Autonomous Organizations (DAOs) on the Blockchain. The methodological scope of research is interdisciplinary inasmuch as it comprises political theory, economics, sustainability science and computer science, among others. The research draws specifically on Michel Bauwens and Vasilis Kostakis' model of open cooperativism between the commons, ethical market entities and a partner state. Bauwens and Kostakis advocate for a commons-based counter-hegemonic post-capitalist transition beyond and against neoliberalism. The research further employs Laclau and Mouffe's discourse theory of hegemony to introduce a post-hegemonic conceptualization of the model of open cooperativism. Thus, the paper aims to outline the theoretical contribution of the research project to contemporary political theory debates on post-capitalism and the collaborative economy.

Keywords: open cooperativism, techno-social innovation, post-hegemony, post-capitalism

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Authors: Sergey V. Vinogradov

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Coastal communities are presently facing increased vulnerabilities due to rising sea levels and shifts in global climate patterns, a trend expected to escalate in the long run. To address the needs of government entities, the public sector, and private enterprises, there is an urgent need to thoroughly investigate, assess, and manage the present and projected risks associated with coastal flooding, including storm surges, sea level rise, and nuisance flooding. In response to these challenges, a practical approach to evaluating storm surge inundation risks has been developed. This methodology offers an integrated assessment of potential flood risk in targeted coastal areas. The physical modeling framework involves simulating synthetic storms and utilizing hydrodynamic models that align with projected future climate and ocean conditions. Both publicly available and site-specific data form the basis for a risk assessment methodology designed to translate inundation model outputs into statistically significant projections of expected financial and operational consequences. This integrated approach produces measurable indicators of impacts stemming from floods, encompassing economic and other dimensions. By establishing connections between the frequency of modeled flood events and their consequences across a spectrum of potential future climate conditions, our methodology generates probabilistic risk assessments. These assessments not only account for future uncertainty but also yield comparable metrics, such as expected annual losses for each inundation event. These metrics furnish stakeholders with a dependable dataset to guide strategic planning and inform investments in mitigation. Importantly, the model's adaptability ensures its relevance across diverse coastal environments, even in instances where site-specific data for analysis may be limited.

Keywords: climate, coastal, surge, risk

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Authors: M. Polic, N. Cesarec Salopek

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When it comes to crisis, no company, notwithstanding its financial success, power or reputation is immune to the new environment and circumstances emerging from it. The main challenge company faces with during a crisis is to protect its most valuable intangible asset reputation. Crisis has the serious potential to disrupt company’s everyday operations and damage its reputation extremely fast, especially if the company did not anticipate threats that may cause a crisis. Therefore, when a crisis happens, company must directly respond to it, whilst an effective crisis communication can limit consequences arising from the crisis, protect and repair the reputational damage caused to the company. Since every crisis is unique, each one of it requires different crisis response strategy. In July 2018, airline labor unions threatened Croatia Airlines, the state owned flag carrier of Croatia, to hold a strike that would be called into question regular flights and affect more than 7.600 passengers per day. This study explores the differences between crisis response strategies that Croatia Airlines, the state owned flag carrier of Croatia and airline labor unions used during the crisis period within the Situational Crisis Communication Theory (SCCT) by analyzing the content of formal communication tools used by Croatia Airlines and airline labor unions. Moreover, this study shows how Croatia Airlines successfully managed to communicate to the general public the threat that airline labor unions imposed on it and how was it received by the Croatian media. By using the qualitative and quantitative content analysis, the study will reveal the frames that dominated in the media articles during the crisis period. The greatest significance of this study is that it will provide the deeper insight into how transparent and consistent communication, the one that Croatia Airlines used before and during the crisis period, contributed to the decision of the competent court (Zagreb County Court) which prohibited labor unions strike in August 2018.

Keywords: crisis communication, crisis response strategy, Croatia Airlines, labor union, reputation management, situational crisis communication theory, strike

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Authors: Puji Sucia Sukmaningrum, Achsania Hendratmi, Noven Suprayogi, Muhammad Madyan

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Theoretically, Islamic banks in Indonesia and Malaysia not necessarily aware to the interest rate fluctuation, since they don’t use interest-based instruments. Both countries use dual banking system in which Islamic and conventional banking system are exist. This situation makes the profit-sharing level of the Islamic banks will be indirectly affected by the interest rate fluctuation from the conventional banks system. One of the risk management tools for anticipating the risk of interest rate fluctuation is gap management, which has purpose to narrow the difference between Rate Sensitive Asset (RSA) and Rate Sensitive Liability (RSL). This formed gap will give the information about the risk potential in Islamic banks which respect to the fluctuation on the interest rate. This study aims to determine the position of the gap formed at Islamic Maybank Indonesia and Islamic Maybank Malaysia, and analyze the difference in the formation of gap based on the period of sensitivity. This study is a quantitative research with comparative study using sensitivity gap analysis, independent sample t-test, and Mann-Whitney method. The data being used was secondary data from Maturity Profile contained in the Annual Financial Report of Islamic Maybank Indonesia and Islamic Maybank Malaysia from 2011 to 2015 period. The result shows that, cumulatively the formation of the gap was negative gap. From the results of independent sample t-test and Mann-Whitney, the formation of the gap in Islamic Maybank Indonesia and Islamic Maybank Malaysia for a period of sensitivity of ≤ 1 month and >1-3 months show a significant difference, while the period of sensitivity >3-12 months does not. The result shows, even though Indonesia and Malaysia using same dual banking systems, the gap values are different. The difference in debt policy between Indonesia and Malaysia also affecting the gap sensitivity in debt. In can be concluded that each country needs an appropriate gap management to support its Islamic banking performance specifically.

Keywords: assets and liability management, gap management, interest rate risk, Islamic bank

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Authors: Lara Al-Haddad, Mark Whittington

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This paper aims to examine the impact of two influential internal corporate governance mechanisms, namely board characteristics and ownership structure on the use of real activities-based and accrual-based earnings management by Jordanian public firms. Using panel data from Jordanian public firms after the introduction of the Jordanian Corporate Governance Code (JCGC) in 2009, the study finds both institutional ownership and managerial ownership constrain the use of real and accrual earnings manipulations. On the other side, both independent directors and largest shareholders are found to exaggerate the incidence of using real and accrual earnings management. The study also examines the trade-off between real and accrual earnings management and found that Jordanian firms use a combination of real and accrual-based earnings management to obtain the greatest effect on earnings reporting strategies. For the purpose of this study, three types of real earnings management are considered: sales manipulation, overproduction, and the abnormal reduction of discretionary expenditures. The abnormal discretionary accrual is considered for accruals management. While for the internal corporate governance mechanisms; board characteristics are examined by using board independence, board size, and CEO-duality; and ownership structure is examined by using managerial ownership, institutional ownership, foreign ownership and largest shareholder ownership. To the best knowledge of the researchers, this study is the first to examine the relationship between board characteristics and real earnings management in Jordan. Further, it is the first to examine the relationship between corporate governance mechanisms and discretionary accruals after the introduction of the Jordanian Corporate Governance Code in 2009. Thus, the findings of this study have important policy implications for policymakers, regulators, standard setters, audit professional, and investors in their attempts to constrain the practice of earnings management, whether real or accrual, and to improve the financial reporting quality in Jordan.

Keywords: board characteristics, Jordan, ownership structure, real earnings management

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Authors: Gianpaolo Ghiani, Emanuela Guerriero, Emanuele Manni, Alessandro Romano

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In this article, we deal with a variant of the classical course timetabling problem that has a practical application in many areas of education. In particular, in this paper we are interested in high schools remedial courses. The purpose of such courses is to provide under-prepared students with the skills necessary to succeed in their studies. In particular, a student might be under prepared in an entire course, or only in a part of it. The limited availability of funds, as well as the limited amount of time and teachers at disposal, often requires schools to choose which courses and/or which teaching units to activate. Thus, schools need to model the training offer and the related timetabling, with the goal of ensuring the highest possible teaching quality, by meeting the above-mentioned financial, time and resources constraints. Moreover, there are some prerequisites between the teaching units that must be satisfied. We first present a Mixed-Integer Programming (MIP) model to solve this problem to optimality. However, the presence of many peculiar constraints contributes inevitably in increasing the complexity of the mathematical model. Thus, solving it through a general purpose solver may be performed for small instances only, while solving real-life-sized instances of such model requires specific techniques or heuristic approaches. For this purpose, we also propose a heuristic approach, in which we make use of a fast constructive procedure to obtain a feasible solution. To assess our exact and heuristic approaches we perform extensive computational results on both real-life instances (obtained from a high school in Lecce, Italy) and randomly generated instances. Our tests show that the MIP model is never solved to optimality, with an average optimality gap of 57%. On the other hand, the heuristic algorithm is much faster (in about the 50% of the considered instances it converges in approximately half of the time limit) and in many cases allows achieving an improvement on the objective function value obtained by the MIP model. Such an improvement ranges between 18% and 66%.

Keywords: heuristic, MIP model, remedial course, school, timetabling

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Authors: Pelin Yilmaz, Gizemnur Yildiz Uysal, Elcin Demirhan, Belma Ozbek

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The edible fig plant, Ficus carica Linn, belongs to the Moraceae family, and the leaves are mainly considered agricultural waste after harvesting. It has been demonstrated in the literature that fig leaves contain appealing properties such as high vitamins, fiber, amino acids, organic acids, and phenolic or flavonoid content. The extraction of these valuable products has gained importance. Microwave-assisted extraction (MAE) is a method using microwave energy to heat the solvents, thereby transferring the bioactive compounds from the sample to the solvent. The main advantage of the MAE is the rapid extraction of bioactive compounds. In the present study, the MAE was applied to extract the bioactive compounds from Ficus carica L. leaves, and the effect of microwave power (180-900 W), extraction time (60-180 s), and solvent to sample amount (mL/g) (10-30) on the antioxidant property of the leaves. Then, the volatile organic component profile was determined at the specified extraction point. Additionally, antimicrobial studies were carried out to determine the minimum inhibitory concentration of the microwave-extracted leaves. As a result, according to the data obtained from the experimental studies, the highest antimicrobial properties were obtained under the process parameters such as 540 W, 180 s, and 20 mL/g concentration. The volatile organic compound profile showed that isobergapten, which belongs to the furanocoumarins family exhibiting anticancer, antioxidant, and antimicrobial activity besides promoting bone health, was the main compound. Acknowledgments: This work has been supported by Yildiz Technical University Scientific Research Projects Coordination Unit under project number FBA-2021-4409. The authors would like to acknowledge the financial support from Tubitak 1515 - Frontier R&D Laboratory Support Programme.

Keywords: Ficus carica Linn leaves, volatile organic component, GC-MS, microwave extraction, isobergapten, antimicrobial

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Authors: Andrea Corsale

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The historical and geographical regions of Banat and Crişana in Western Romania have long been characterized by a high degree of ethnic diversity. However, this traditionally complex cultural, linguistic, and religious mosaic has undergone a progressive simplification during the past century due to deportations, emigration, and assimilation, and both regions now have a large Romanian-speaking majority population. This contribution focuses on Jewish heritage in the two largest cities of these two regions, Timişoara (Banat) and Oradea (Crişana). The two cities shared some historical events but also went through different experiences, despite their relative geographic proximity. The Jewish community of Timişoara survived the Holocaust basically intact, an almost unique case in Central-Eastern Europe, but largely left the city after the war. Instead, the Jewish community of Oradea was almost completely deported and killed in Auschwitz, and a renewed post-war community gradually emigrated abroad in the following decades. The two Jewish communities are now very small in size but inherited a vast tangible and intangible heritage (synagogues, cemeteries, community buildings, characteristic architecture, memories, local traditions, and histories), partially restored and recovered in recent years. The author’s fieldwork shows that local Jewish stakeholders are aware of the potential of this heritage in terms of cultural and economic benefits, but significant weaknesses and concerns exist, as the small dimension of these communities, and their financial constraints, challenge their future role in the eventual promotion and management of this heritage, which is now basically in the hands of the non-Jewish public and private stakeholders. Projects, experiences, and views related to Jewish heritage conservation and promotion in these two contexts will be portrayed and analysed in order to contribute to a broader discussion on representations and narratives of minority heritage within cultural tourism development dynamics.

Keywords: Jewish heritage, ethnic minorities, heritage tourism, Romania

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Authors: Lim Pey Huan

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Yi-Kuan-Tao has been developing in Malaysia for nearly 60 years. It was initially introduced from mainland China and later from Taiwan starting from the 1970s. Yi-Kuan-Tao was considered a 'new religion' for the local Chinese community in Malaysia in its early stages, as Chinese immigrants primarily practiced Taoism, Buddhism, Christianity, or Catholicism upon settling in the region. The overseas propagation and development of Yi-Kuan-Tao today primarily occur through Taiwanese temples, which began spreading abroad as early as 1949. Particularly since the 1970s, with the rapid economic growth of Taiwan, various branches of Taiwanese Yi-Kuan-Tao have gained economic strength to propagate abroad, further expanding the influence of Yi-Kuan-Tao overseas. Southeast Asia is the region out from Taiwan where the propagation and development of Yi-Kuan-Tao are fastest and most concentrated. With approximately over 6 million Chinese inhabitants, Malaysia's pursuit of traditional Chinese culture has led to a flourishing interest in Yi-Kuan-Tao, particularly its advocacy of the unity of Confucianism, Buddhism, and Taoism, with an emphasis on promoting Confucian thought. Moreover, Taiwan's rapid economic development since the 1970s has enabled Yi-Kuan-Tao to allocate significant human and financial resources for external propagation efforts. Additionally, Malaysia's government has adopted a relatively tolerant policy towards religion since that time, further fostering the flourishing development of Yi-Kuan-Tao in Malaysia. Furthermore, this thesis aims to strengthen the lineage and continuity of the Yi-Kuan-Tao tradition, particularly the branch of Fa Yi Chong De, through the perspective of Heavenly Mandate (天命). By examining the different origins and ethnic backgrounds, it investigates how the Malaysian Chinese community has experienced different changes through the cultural baptism of religion, thus delving into the religious influence of Yi-Kuan-Tao. Given that the Fa Yi Chong De Academy in Taiwan is currently in an active development and construction phase, academic works related to Yi-Kuan-Tao will lay a more solid academic foundation for the future establishment of the academy.

Keywords: initial exploration, cultural shifts, Yi-Kuan-Tao, Malaysian Chinese community

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Authors: A. Šapkauskienė, A. Mačerinskienė, R. Andrulienė, R. Bruzgė, S. Masteika, K. Driaunys

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The COVID-19 pandemic has affected not only world markets and economies but also the daily lives of customers and their payment habits. The pandemic has accelerated the digital transformation, so the role of technology will become even more important post-COVID. Although the popularity of cryptocurrencies has reached unprecedented heights, there are still obstacles, such as a lack of consumer experience and distrust of these technologies, so exploring the role of cryptocurrency and blockchain in the context of international travel becomes extremely important. Research on tourists’ intentions to use cryptocurrencies for payment purposes is limited due to the small number of research studies. To fill this research gap, an exploratory study based on the analysis of survey data was conducted. The purpose of the research is to explore how the behavior of tourists has changed making their financial transactions when paying for the tourism services in order to determine the intention to pay in cryptocurrencies. Behavioral intention can be examined as a dependent variable that is useful for the study of the acceptance of blockchain as cutting-edge technology. Therefore, this study examines the intention of travelers to use cryptocurrencies in electronic payments for tourism services. Several studies have shown that the intention to accept payments in a cryptocurrency is affected by the perceived usefulness of these payments and the perceived ease of use. The findings deepen our understanding of the readiness of service users to apply for blockchain-based payment in the tourism sector. The tourism industry has to focus not only on the technology but on consumers who can use cryptocurrencies, creating new possibilities and increasing business competitiveness. Based on research results, suggestions are made to guide future research on the use of cryptocurrencies by tourists in the tourism industry. Therefore, in line with the rapid expansion of virtual currency users, market capitalization, and payment in cryptographic currencies, it is necessary to explore the possibilities of implementing a blockchain-based system aiming to promote the use of services in the tourism sector as the most affected by the pandemic.

Keywords: behavioral intention, blockchain-based payment, cryptocurrency, tourism

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Authors: Violina Angelova

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A comparative study has been carried out into the impact of organic meliorants on the uptake of heavy metals, micro and macroelements and the phytoremediation potential of enhanced tobacco BAC F3. The soil used as part of this experiment was sampled from the vicinity of the Non-Ferrous-Metal Works near Plovdiv, Bulgaria. The pot experiment carried out consisted of a randomized, complete block design containing nine treatments and three replications (27 pots). The treatments consisted of a control (with no organic meliorants) and compost and vermicompost meliorants (added at 5%, 10%, 15%, and 30%, and recalculated based on their dry soil weight). Upon reaching commercial ripeness, the tobacco plants were gathered. Heavy metals, micro and macroelement contents in roots, stems, and leaves of tobacco were analyzed by the method of the microwave mineralization. To determine the elements in the samples, inductively coupled emission spectrometry (Jobin Yvon Emission - JY 38 S, France) was used. The distribution of the heavy metals, micro, and macroelements in the organs of the enhanced tobacco has a selective character and depended above all on the parts of the plants and the element that was examined. Pb, Zn, Cu, Fe, Mn, P and Mg distribution in tobacco decreases in the following order: roots > leaves > stems, and for Cd, K, and Ca - leaves > roots > stems. The high concentration of Cd in the leaves and the high translocation factor indicate the possibility of enhanced tobacco to be used in phytoextraction. Tested organic amendments significantly influenced the uptake of heavy metals, micro and macroelements by the roots, stems, and leaves of tobacco. A correlation was found between the quantity of the mobile forms and the uptake of Pb, Zn, and Cd by the enhanced tobacco. The compost and vermicompost treatments significantly reduced heavy metals concentration in leaves and increased uptake of K, Ca and Mg. The 30% compost and 30% vermicompost treatments led to the maximal reduction of heavy metals in enhanced tobacco BAC F3. The addition of compost and vermicompost further reduces the ability to digest the heavy metals in the leaves, and phytoremediation potential of enhanced tobacco BAC F3. Acknowledgment: The financial support by the Bulgarian National Science Fund Project DFNI Н04/9 is greatly appreciated.

Keywords: heavy metals, micro and macroelements, enhanced tobacco BAC F3, phytoremediation, organic meliorants

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Authors: Soojin Kim, Yongjae Kim

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Continuous economic downturn and ongoing budget cuts poses higher education with profound challenges which has a direct impact on the collegiate athletic programs. In response to the ever-changing landscape of the fiscal environment, universities seek to boost revenues, resorting to alternative sources of funding. In particular, athletic programs have become increasingly dependent on financial support from their alumni and boosters, which is how athletic departments attempt to offset budget shortfalls and make capital improvements. Although there currently exists three major divisions within National Collegiate Athletic Association (NCAA), the majority of the sport management studies on college sport tend to focus on Division I level. Particularly within the donor motivation literature, a plethora of donor motivation studies exist, but mainly on NCAA Division I athletic programs. Since each athletic department functions differently in a number of different dimensions, while institutional difference can also have a huge impact on athletic donor motivations, the current study attempts to fill this gap that exists in the literature. As such, the purpose of this study was to (I) reexamine the factor structure of the Athletic Donor motivation scale; and (II) identify the prominent athletic donor motives in a NCAA Division II athletic program. For the purpose of this study, a total of 232 actual donors were used for analysis. A confirmatory factor analysis (CFA) was employed to test construct validity, and the reliability of the scale was assessed using Composite Reliability. To identify the prominent motivational factors, the means and standard deviations were examined. Results of this study indicated that Vicarious Achievement, Philanthropy, and Commitment are the three primary motivational factors, while Tangible Benefits, was consistently found as an important motive in prior studies was found low. Such findings highlight the key difference and suggest different salient motivations exist that are specific to the context.

Keywords: college athletics, donor, motivation, NCAA

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Authors: Desiree Vandenberghe, Johan Albrecht

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Non-communicable diseases (NCDs) are responsible for the vast majority of deaths in the European Union (EU) and represent a large share of total health care spending. A future increase in this health and financial burden is likely to be driven by population ageing, lifestyle changes and technological advances in medicine. Without adequate prevention measures, this burden can severely threaten population health and economic development. To tackle this challenge, a correct assessment of the current burden of NCDs is required, as well as a projection of potential increases of this burden. The contribution of this paper is to offer perspective on the evolution of the NCD burden towards the future and to give an indication of the potential of prevention policy. A Non-Homogenous, Semi-Markov model for the EU was constructed, which allowed for a projection of the cost burden for the four main NCDs (cancer, cardiovascular disease, chronic respiratory disease and diabetes mellitus) towards 2030 and 2050. This simulation is done based on multiple baseline scenarios that vary in demand and supply factors such as health status, population structure, and technological advances. Finally, in order to assess the potential of preventive measures to curb the cost explosion of NCDs, a simulation is executed which includes increased efforts for preventive health care measures. According to the Markov model, by 2030 and 2050, total costs (direct and indirect costs) in the EU could increase by 30.1% and 44.1% respectively, compared to 2015 levels. An ambitious prevention policy framework for NCDs will be required if the EU wants to meet this challenge of rising costs. To conclude, significant cost increases due to Non-Communicable Diseases are likely to occur due to demographic and lifestyle changes. Nevertheless, an ambitious prevention program throughout the EU can aid in making this cost burden manageable for future generations.

Keywords: non-communicable diseases, preventive health care, health policy, Markov model, scenario analysis

Procedia PDF Downloads 143

Authors: Jana Vermaas, Carien Denner

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Waste has become a global issue and the management regarding it a priority. Some of the main problems in South Africa (SA) include: (1) the lack of information and education, (2) waste collection services, (3) reusing and recycling is not encouraged, (4) illegal dumping, and the biggest problem of all (5) the lack of waste related regulations and enforcement by the government and municipalities. In SA, there are provinces such as Gauteng and the Western Cape that have some recycling programs in place, but nothing yet in the central part of the country. By identifying the barriers preventing these businesses from recycling, the local municipalities and recycling services could create a solution. Owners or employees of eateries and bars completed a self-administered questionnaire. Information were obtained on knowledge of recycling, participation in recycling and to which extent, barriers that prevent them from recycling and motives that would encourage recycling. The data obtained from the questionnaire indicated that most (98%) participants knew only the basics, that recycling is a process of converting waste materials into new materials and objects. Further knowledge questions indicated that individuals were not educated about recycling as almost half (49%) of the participants believe that they can’t reuse plastic bottles. They do not understand which items of their waste could be re-used or recycled. They had limited knowledge about the recycling opportunities or practices in the area. Only a small number (34%) were involved in recycling or sustainable practices. Many did not even know of any collection services or buy-back centres in their vicinity. Most of the participants (94%) indicated that they would be willing to recycle if it would have a financial benefit. Many also stated that they would be more willing to recycle if the recyclable waste will be collected from their establishment, on a regular basis. The enforcement of recycling by municipalities or government by awarding fines for waste offenders was indicated as a significant motive. It could be concluded that the most significant barrier is knowledge and lack of information. These businesses do not comprehend the impact that they can have with their recycling contributions, not only on the environment, but also on the consumers that they serve. Another barrier is the lack of collection services. There are currently no government or municipal services for the collection of recyclable waste. All waste are taken to landfills. Many of the larger recycling initiatives and companies do not reach as far as central SA. Therefore, the buy-back component of recycling is not present.

Keywords: eateries, recycling, sustainable practices, waste

Procedia PDF Downloads 299

Authors: Yusuf Umar Madugu

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Since its creation in 1967, Kano has tremendously undergone political, social and economic transformations. Public urban transportation has been playing a vital role in sustaining economic growth of Kano metropolis, especially with the existence of modern buses with the regular network of roads, in all the main centers of trade. This study, therefore, centers on the role of intra-city buses in molding the economy of Kano. Its main focus is post-colonial Kano (i.e. 1967-2015), a period that witnessed rapid expansion of commercial activities and ever increasing urbanization which goes along with it population explosion. The commuters patronized the urban transport, a situation that made the business lucrative. More so, the traders who had come from within and outside Kano relied heavily on commercial vehicles to transport their merchandise to their various destinations. Commercial road transport system, therefore, had become well organized in Kano with a significant number of people earning their means of livelihood from it. It also serves as a source of revenue to governments at different levels. However, the study of transport and development as an academic discipline is inter-disciplinary in nature. This study, therefore, employs the services and the methodologies of other disciplines such as Geography, History, Urban and Regional Planning, Engineering, Computer Science, Economics, etc. to provide a comprehensive picture of the issues under investigation. The source materials for this study included extensive use of written literature and oral information. In view of the crucial importance of intra-city commercial transport services, this study demonstrates its role in the overall economic transformation of the study area. It generally also, contributed in opening up a new ground and looked into the history of commercial transport system. At present, Kano Metropolitan area is located between latitude 110 50’ and 12007’, and longitude 80 22’ and 80 47’ within the Semi-Arid Sudan Savannah Zone of West Africa about 840kilometers of the edge of the Sahara desert. The Metropolitan area has expanded over the years and has become the third largest conurbation in Nigeria with a population of about 4million. It is made up of eight local government areas viz: Kano Municipal, Gwale, Dala, Tarauni, Nasarawa, Fage, Ungogo, and Kumbotso.

Keywords: assessment, buses, city, mobility, sustainable

Procedia PDF Downloads 227

Authors: Fatima Homor

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The new era in business has started, according to my research paper findings, corporate social responsibility leads organizations to an incomparable advantage phase, where competition is secondary and financial growth is a result. Those who join later, lose their active advantage and cause passive disadvantage for their organizations. The main purpose of this presentation is to state the obvious and shed the light of the advantages of doing good, while doing well for multinational enterprises, extremely low fluctuation (preventing one of the highest costs), significantly lower marketing budget, enhanced reputation causing customer and supplier loyalty, employee commitment results in higher motivation level leading to better quality at each stages, Corporate Social Responsibility brings Unique Selling Proposition incomparable to others. The paper is based on a large research work conducted for the University of Liverpool Masters in Business Administration program, with the title of Corporate Social Responsibility for Multinational Enterprises to gain incomparable advantage. The research is based on both recent secondary data, but most importantly on 25 interviews with Chief Executive Officers at Multinational Enterprises and / or the Human Resources / corporate communications directors. The direct gains on Corporate Social Responsibility are analyzed when it is embedded into the core of the business. It is evident that project based Corporate Social Responsibility is not effective neither from the supported topic, Non-governmental Organizations point of view nor from the organization’s long-term sustainability point of view. Surveys have been conducted, data compared and consequences drawn. Corporate Social Responsibility must be started inside of the business to strengthen it. First, commit employees. It must come from the Chief Executive Officer. It must be related to the business profile. It has to be long term. They will commit customers. B-corps are coming (e.g. Unilever); the phenomenon of social enterprises has become a leading one.

Keywords: B-corps, embedded into core business, first inside, unique advantage

Procedia PDF Downloads 208

Authors: Jakub Gren

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The recent transfer of banking supervision to the ECB has expanded its influence as of a non-majoritarian and technocratic policy-shaper in EU supervisory policies. To fulfil the main policy objectives of the Single Supervisory Mechanism, the ECB has been tasked with building a single supervisory approach to supervised banks across the euro area and is now exclusively responsible for direct supervision of the largest ‘significant’ euro area banks and the oversight of the remaining ‘less significant’ banks. This enhanced supranational position of the ECB significantly alters the EU institutional order and creates powerful incentives to actively pursue integrationist agenda by the ECB. However, this drastic shift has a little impact upon adapting the ECB’s new supervisory mandate to the requirements of democratic legitimacy. Whereas the ECB’s strong pre-crisis independence and limited accountability could be reconciled with democratic principles through a clearly articulated price stability mandate, independence and limited accountability in the context of a more complex supervisory mandate is problematic. Hence, in order to ensure the democratic legitimacy of the ECB/SSM’s supervisory policies, the ECB’s supervisory mandate requires both a lower scope of independence and higher accountability requirements. To address this situation, organizational separation (“Chinese Wall”) between the ECB monetary and supervisory arms was introduced. This separation includes different reporting lines and the relocation of the ECB’s monetary function to a new building complex while leaving its supervisory function at the Euro-tower (“Two Towers”). This paper argues that these measures are not sufficient to establish proper checks and balances on the ECB’s powers to pursue euro zone’s wide supervisory policies. As a remedy, this contribution suggests that the ECB’s Treaties-embedded independence, as set out by art. 130 TFEU, designed to carry out its monetary function shall not be fully applicable to its supervisory function. Indeed functional and conditional reading of this provision to ECB supervisory function could enhance the legitimacy of future ECB’s supervisory action.

Keywords: accountability and transparency, democratic governance, financial management, rule of law

Procedia PDF Downloads 208

Authors: Muhammad Shoaib Iqbal, Shih Ping Ho

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Megaprojects are large-scale, complex ventures with significant financial investments, numerous stakeholders, and extended timelines, requiring meticulous management for successful completion. This study explores the interplay between project governance, project complexity, and servant leadership and their combined effects on project success, specifically within the context of Pakistani megaprojects. The primary objectives are to examine the direct impact of project governance on project success, understand the negative influence of project complexity, assess the positive role of servant leadership, explore the moderating effect of servant leadership on the relationship between governance and success, and investigate how servant leadership mitigates the adverse effects of complexity. Using a quantitative approach, survey data were collected from project managers and team members involved in Pakistani megaprojects. Using a Comprehensive empirical model, 257 Valid responses were analyzed. Multiple regression analysis tested the hypothesized relationships and interaction effects using PLS-SEM. Findings reveal that project governance significantly enhances project success, emphasizing the need for robust governance structures. Conversely, project complexity negatively impacts success, highlighting the challenges of managing complex projects. Servant leadership significantly boosts project success by prioritizing team support and empowerment. Although the interaction between governance and servant leadership is not significant, suggesting no significant change in project success, servant leadership significantly mitigates the negative effects of project complexity, enhancing team resilience and adaptability. These results underscore the necessity for a balanced approach integrating strong governance with flexible, supportive leadership. The study offers valuable insights for practitioners, recommending adaptive governance frameworks and promoting servant leadership to improve the management and success rates of megaprojects. This research contributes to the broader understanding of effective project management practices in complex environments.

Keywords: project governance, project complexity, servant leadership, project success, megaprojects, Pakistan

Procedia PDF Downloads 42

Authors: Mohammad Ranjbar, Mohammad Bazyar, Blake Angell, Thomas Lung, Yibeltal Assefa

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Background: Current health insurance programs in Iran suffer from low enrolment and are not sufficient to attain the country to universal health coverage (UHC). We hypothesize that improving the enrollment rate and moving towards a more sustainable UHC can be achieved by improving the benefits package and providing new incentives. The objective of this study is to assess public preferences and willingness to pay (WTP) for social health insurance (SHI) in Iran. Methods: A discrete choice experiment (DCE) was conducted in 2021, using a self-administered questionnaire on 500 participants to estimate WTP and determine individual preferences for the SHI in Yazd, Iran. Respondents were presented with an eight-choice set and asked to select their preferred one. In each choice set, scenarios were described by eight attributes with varying levels. The conditional logit regression model was used to analyze the participants' preferences. Willingness to pay for each attribute was also calculated. Results: Most included attributes were significant predictors of the choice of a health insurance package. The maximum coverage of hospitalization costs in the private sector, ancillary services such as glasses, canes, etc., as well as coverage for hospitalization costs in the public sector and drug costs, were the most important determining factors for this choice. Coverage of preventive dental care did not significantly influence respondent choices. Estimating WTP showed that individuals are willing to pay more for higher financial protection, particularly against private sector costs; the WTP to increase the coverage of hospitalization costs in the private sector from 50% to 90% is estimated at 362,068 IR, Rials per month. Conclusion: This study identifies the key factors that the population value with regard to health insurance and the tradeoffs they are willing to make between them. Hospitalization, drugs, and ancillary services were the most important determining factors for their choice. The data suggest that additional resources coming into the Iranian health system might best be prioritized to cover hospitalization and drug costs and those associated with ancillary services.

Keywords: social health insurance, preferences, discrete choice experiment, willingness to pay

Procedia PDF Downloads 94

Authors: Johnstone Walubengo Wangusi

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Geotechnical engineering is a multidisciplinary field that encompasses the study of soil, rock, and groundwater properties and their interactions with civil engineering structures. This research paper provides an in-depth overview of geotechnical engineering, covering its fundamental principles, applications in civil infrastructure projects, and the challenges faced by practitioners in the field. Through a comprehensive examination of soil mechanics, foundation design, slope stability analysis, and geotechnical site investigation techniques, this paper aims to highlight the importance of geotechnical engineering in ensuring the safety, stability, and sustainability of infrastructure development. Additionally, it discusses emerging trends, innovative technologies, and future directions in geotechnical engineering research and practice.

Keywords: sustainable geotechnical engineering solutions, education and training for future generations geotechnical engineers, integration of geotechnical engineering and structural engineering, use of AI in geotechnical engineering modelling

Procedia PDF Downloads 65

Authors: Adepoju A. A., Olapade-Ogunwole F., Ganiyu M. O.

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This study examined women's empowerment in cassava production in southwest Nigeria. The contributions of the five domains namely decision about agricultural production, decision-making power over productive resources, control of the use of income, leadership and time allocation to women disempowerment, profiled the women based on their socio-economics features and determined factors influencing women's disempowerment. Primary data were collected from the women farmers and processors through the use of structured questionnaires. Purposive sampling was used to select the LGAs and villages based on a large number of cassava farmers and processors, while cluster sampling was used to select 360 respondents in the study area. Descriptive statistics such as bar charts and percentages, Women Empowerment in Agriculture (WEAI), and the Logit regression model were used to analyze the data collected. The results revealed that 63.88% of the women were disempowered. Lack of decision-making power over productive resources; 36.47% and leadership skills; 33.26% contributed mostly to the disempowerment of the women. About 85% of the married women were disempowered, while 76.92% of the women who participated in social group activities were more empowered than their disempowered counterparts. The findings showed that women with more years of processing experience have the probability of being disempowered while those who engage in farming as a primary livelihood activity, and participate in social groups among others have the tendency to be empowered. In view of this, it was recommended that women should be encouraged to farm and contribute to social group activities.

Keywords: cassava, production, empowerment, southwest, Nigeria

Procedia PDF Downloads 62

Authors: Mohammad Mirwais Yusufi

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Skillful management is one of the most important success factors for today’s farms. When a farm is well managed, it can generate funds for its sustainability. Grape is one of the most diffused fruits in the world and one of the most important cash crops with high potential of production in Afghanistan as well. While there are several organizations intervening for improvement of this cash crop, the quality and quantity are still not satisfactory for producers and external markets. The situation has not changed over the years. Therefore, a survey was conducted in 2017 with 60 grape growers, supported by questionnaires in Mirbachakot, Kalakan and Shakardara districts of Kabul province. The purpose was to get an understanding of the current socio-demographic characteristics of farmers, management methods, constraints, farm size, yield and contribution of grape farming to household income. Findings indicate that grape farming was predominant 83.3% male, 16.6% female and small-scale farmers were the main grape producers, 60% < 1 ha of land under grape production. Likewise, 50% had more than > 10 years and 33.3% between 1-5 years’ experience in grape farming. The high level of illiteracy and diseases had significant digit effect on growth, yield and quality of grapes. The results showed that vineyard management operations to protect grapes from mechanical damage are very poor or completely absent. Comparing developed countries, table grape is one of the fruits with the highest input of technology, while in developing countries the cost of labor is low but the purchase of the equipment is very high due to financial situation. Hence the low quality and quantity of grape are influenced by poor management methods, such as non-availability of experts and lack of technical guidance in the study site. Thereby, the study suggested that improved agricultural extension services and managerial skills could contribute to addressing the problems.

Keywords: constraints, effect, management, Kabul

Procedia PDF Downloads 114

Authors: R. Shayamapiki

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This study explores the applicability of applying new urbanism principles in cities of developing countries as a panacea towards building sustainable cities through implementing smart transportation. Smart transportation approach to planning has been growing remarkably around the globe in the past decade. In conquest to curb traffic congestion and reducing automobile dependency in the inner-city Harare, Smart Transportation has been a strong drive towards building sustainable cities. Conceptually, Smart Transportation constitutes of principles which include walking, cycling and mass transit. The Smart Transportation approach has been a success story in the cities of developing world but its application in the cities of developing countries has been doubtful. Cities of developing countries being multifaceted with several urban sustainability challenges, the study consolidates that there are no robust policy, legislative and institutional frameworks to govern the application of Smart Transportation in urban planning hence no clear roadway towards its success story. Questions regarding this investigation proliferate to; how capable are cities of developing countries to transform Smart Transportation principles to a success story? What victory can Smart Transportation bring to sustainable urban development? What are constraints of embracing the principles and how can they be manipulated? Methodologically the case study of urban syntax in Harare Central Business District and arterial roads of the city, legislation and institutional settings underpins various research outcomes. The study finds out the hindrances of policy, legislative and institutional incapacities cooked with economic constraints, lack of political will and technically inflexible zoning regulations. The study also elucidates that there is need to adopt a localized approach to Smart Transportation. The paper then calls for strengthening of institutional and legal reform in conquest to embrace the concept, policy and legislative support, feasible financial mechanism, coordination of responsible stakeholders, planning standards and regulatory frameworks reform to celebrate the success story of Smart Transportation in the developing world.

Keywords: inner-city Harare, new urbanism, smart transportation, sustainable cities

Procedia PDF Downloads 471