Search results for: debt crisis

Authors: Andreanna Kalasountas

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A rampant health crisis is facing America. That health crisis is poverty. Millions of Americans live without knowing when they will eat or where they will sleep. Meanwhile, there are over 600 multi-billionaires in the United States. “In April 2021, U.S. billionaires had nearly twice as much combined wealth than the bottom half of Americans -- $4.56 trillion vs. $2.62 trillion.” It's disturbingly ironic that we live in a country where there are people with more money than they know what to do with (or could spend in a lifetime) while simultaneously, people are losing their life because they do not have enough money to survive. Accordingly, this paper argues for the end of the multi-billionaire; that wealth be capped, captured, and redistributed to the poorest among us. To accomplish this goal, this paper begins by identifying the problem, advocating for a new measurement of poverty; and concludes with a both legal and tax policy solutions and what implementation of those solutions would look like.

Keywords: health and human rights, law and policy, poverty, wealth gap

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Authors: Dan Li, Hao Tang

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The idea of “public bonds” was foreign to Qing China because it went against the traditional political ideology that supported that the emperor had absolute ownership over the nation. When a new fiscal crisis emerged out of the First Sino-Japanese War in 1894, the Qing rulers had no better option than to issue domestic bonds. This article documents the processes of issuance, distribution, and reimbursement for a total of three bonds issued by the Qing. These processes reveal how a well-established Western fiscal instrument could be extremely awkward and difficult to implant in China—a culturally, politically, and institutionally different society. Our paper sheds light on why Qing China failed to rise as a modern fiscal state.

Keywords: public bond, Qing China, fiscal crisis, fiscal state, the first Sino-Japanese war

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Authors: Leah Ritchie

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By many accounts, the most recent economic recession and subsequent lack-luster recovery has demonstrated that corporate social responsibility is in a state of crisis. This crisis represents an opportunity for CSR scholars to play a role in restoring long-term economic growth and consumer confidence. In its current state however, CSR may not be in a position to facilitate positive change. In an attempt to remain relevant, the field has shifted toward a performance-based agenda that demonstrates in practical terms, how CSR can positively affect the financial and strategic performance of the firm. This paper argues that if CSR is to play a central role in helping to create a more equitable balance of power between industry and society, it must demonstrate the symbiotic nature of the relationship between these two entities, not just in terms of compartmentalized strategic and financial gain for the firm, but also toward maintaining a 'do no harm' imperative. Given the evidence that harm done to society is ultimately turned back on the firm, this is not simply a moralistic imperative. In order to affect change, CSR must also create an activist agenda to raise consciousness among the general citizenry toward mobilizing, uncovering, and repairing breeches in the implicit social contract between business and society.

Keywords: corporate social responsibility, multiple stakeholder view, economic recession, housing crisis

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Authors: Khaled Alkadamani

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Using the simultaneous equations model, this paper examines the impact of capital requirements on bank risk-taking during the recent financial crisis. It also explores the relationship between capital and risk decisions and the impact of economic instability on this relationship. By analyzing the data of 20 Islamic commercial banks between 2004 and 2014 from four Middle East countries, the study concludes a positive effect of regulatory pressure on bank capital in Saudi Arabia and UAE and a negative effect in Jordan and Kuwait. Moreover, the results show a negative impact of regulatory pressure on bank risk taking in Saudi Arabia, Jordan and UAE. The findings reveal also that banks close to the minimum regulatory capital requirements improve their capital adequacy by increasing their capital and decreasing their risk taking. Furthermore, the results show that economic crisis negatively affects bank risk changes, suggesting that banks react to the impact of uncertainty by reducing their risk taking. Finally, the estimations show a negative correlation between banks profitability and capital adequacy ratio (CAR), implying that as more capital is set aside as a buffer for banks safety; it affects the performance of Islamic banks.

Keywords: bank capital, bank regulation, crisis, Islamic banks, risk taking

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Authors: Rodrigo Zeidan

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The paper identifies failures of decision making and corporate governance that allow non-financial companies around the world to develop hedging strategies that lead to hefty losses in the aftermath of the financial crisis. The sample is comprised of 346 companies from 10 international markets, of which 49 companies (and a subsample of 13 distressed companies) lose a combined US$18.9 billion. An event study shows that most companies that present losses in derivatives experience negative abnormal returns, including a number of companies in which the effect is persistent after a year. The results of a probit model indicate that the lack of a formal hedging policy, no monitoring to the CFOs, and considerations of hubris and remuneration contribute to the mismanagement of hedging policies.

Keywords: risk management, hedging, derivatives, monitoring, corporate governance structure, event study, hubris

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Authors: Zeynep Selin Balci, Altug Gunal

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Religion has always an effect on the policies of states. In the case of religion having a central role in defining identity, especially when becoming an independent state, the bond between religious authority and state cannot easily be broken. As independence of Greece from the Ottoman Empire was acquired at the same time with the creation of its own church under the name of the Church of Greece by declaring its independence from the Greek Orthodox Patriarchate in Istanbul, the new church became an important part of Greek national identity. As the Church has the ability to influence Greeks, its rituals, public appearances, and practices are used to provide support to the state. Although there sometimes have been controversies between church and state, it has always been a fact that church is an integral part of the state, which is proved by that paying the salaries of priest by state payroll and them being naturally civil servants. European Union membership, on the other hand, has a changing impact on this relationship. This impact started to be more visible in 2000 when then government decided to exclude the religion section from identity cards. Church’s reaction was to gather people around recalling their religious identity and followed by redefining the content of nationality, which aspired nationalist fronts. After 2015 when leftist coalition Syriza and its self-described atheist leader came to power, the situation for nationalists and Church became more tangling in addition to the economic crisis started in 2010 and evolved into the Eurozone crisis by affecting not only Greece but also other members. Although the church did not have direct confrontations with the government, the fact that Tsipras refused to take the oath on Bible created tensions because it was not acceptable for a state whose Constitution starts ‘in the name of the Holy, Consubstantial and Indivisible Trinity’. Moreover, austerity measures to overcome the economic crisis, which affected the everyday life of citizens in terms of both prices and salaries, did not harm the church’s economic situation much. Considering church being the second biggest landowner after state and paying no taxes, the fact that church was exempt from austerity measures showed to the government the necessity to find a way to make church contribute to solution for the crisis. In 2018, when the government agreed with the head of the church on cutting off the priests from government payroll automatically meaning to end priests’ civil servant status, it created tensions both for church and in society. As a result of the elections held in July 2019, Tsipras could not have the chance to apply the decision as he left the office. In light of these, this study aims to analyze the position of the church in the economic crisis and its effects on Tsipras term. In order to sufficiently understand this, it is to look at the historical changing points of Church’s influence in Greek’s eyes.

Keywords: Eurozone crisis, Greece, Orthodox Church, Tsipras

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Authors: Busra Gulnihan Dascıoglu, Ozalp Vayvay, Zeynep Tugce Kalender

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Humanitarian supply chain management has gain popularity in recent years in research fields. The aim of this paper is to review the literature on humanitarian operations and crisis/disaster management from 2010 to latest researches in order to identify the current research and to provide direction for future research in this growing field. Researches are classified considering the research publication year, research fields. Articles from humanitarian supply chain management were reviewed, keywords were identified within a disaster management lifecycle framework. Research gaps are identified for future research areas.

Keywords: crisis, disaster, humanitarian supply chain management, relief operations

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Authors: Christian Bucio Pacheco, Miriam Magnolia Sosa Castro, María Alejandra Cabello Rosales

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This paper aims to analyze the contagion effect among the stock markets of the BRIC+M block (Brazil, Russia, India, China plus Mexico). The contagion effect is proved through increasing on dependence parameters during crisis periods. The dependence parameters are estimated through copula approach in a period of time from July 1997 to December 2015. During this period there are instability and calm episodes, allowing to analyze changes in the relations of dependence. Empirical results show strong evidence of time-varying dependence among the BRIC+M markets and an increasing dependence relation during global financial crisis period.

Keywords: BRIC+M Block, Contagion effect, Copula, dependence

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Authors: Garima Singh

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Objectives: Behavioral Crisis Center (BCC) is a community solution to a community problem. There has been an exponential increase in the incidence and prevalence of mental health crises around the world. The effects of the crisis negatively impact our patients and their families and strain the law enforcement and emergency room. The goal of the multi-disciplinary care model is to break the crisis cycle and provide 24-7 rapid access to an acre and crisis stabilization. We initiated our first BCC care center in 2020 in the midst of the COVID pandemic and have seen a remarkable improvement in patient ‘care and positive financial outcome. Background: Mental illnesses are common in the United States. Nearly one in five U.S. adults live with a mental illness (52.9 million in 2020). This number represented 21.0% of all U.S. adults. To address some of these challenges and help our community, In May 2020, we opened our first Behavioral crisis center (BCC). Since then, we have served more than 2500 patients and is the first southwest Missouri’s first 24/7 facility for crisis–level behavioral health and substance use needs. It has been proven to be a more effective place than emergency departments, jails, or local law enforcement. Methods: BCC was started in 2020 to serve the unmet need of the community and provide access to behavioral health and substance use services identified in the community. Funding was possible with significant investment from the county and Missouri Foundation for Health, with contributions from medical partners. It is a multi-disciplinary care center consisting of Physicians, nurse practitioners, nurses, behavioral technicians, peer support specialists, clinical intake specialists, and clinical coordinators and hospitality specialists. The center provides services including psychiatry care, outpatient therapy, community support services, primary care, peer support and engagement. It is connected to a residential treatment facility for substance use treatment for continuity of care and bridging the gap, which has resulted in the completion of treatment and better outcomes. Results: BCC has proven to be a great resource to the community and the Missouri Health Coalition is providing funding to replicate the model in other regions and work on a similar model for children and adolescents. Overall, 29% of the patients seen at BCC are stabilized and discharged with outpatient care. 50% needed acute stabilization in a hospital setting and 21% required long-term admission, mostly for substance use treatment. The local emergency room had a 42% reduction in behavioral health encounters compared to the previous 3 years. Also, by a quick transfer to BCC, the average stay in ER was reduced by 10 hours and time to follow up behavioral health assessment decreased by an average of 4 hours. Uninsured patients are also provided Medicaid application assistance which has benefited 55% of individuals receiving care at BCC. Conclusions: BCC is impacting community health and improving access to quality care and substance use treatment. It is a great investment for our patients and families.

Keywords: BCC, behvaioral health, community health care, addiction treatment

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Authors: Vincent Jones

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The North African country of Libya is in crisis and is currently a humanitarian disaster. The current American ‘hands off’ foreign policy appear to have contributed to this crisis. The research upon which this paper is based focused on a qualitative analysis of migration to Libya and its history with slavery, current conditions that have contributed to the re-emergence of slavery, an analysis of available resources in the effected region, and an analysis of legal remedies pursuant to international law. In addition, a qualitative analysis of American foreign policy from the Reagan Administration through the current Trump administration has been a focus of analysis. The major findings of this research are: (1) Since the removal of Muammar Gadhafi, a move that the United States played a major role in achieving, the nation of Libya has been in free fall and the rule of law has all but disappeared. As a major port stop for refugees and migrants fleeing atrocities in sub-Saharan African states, Libya has become the gate way to European ports of asylum. The problem is these migrant refugees are unwanted, caught between rival and often ineffective governments, profiteers, and inaction from the international community. (2) The outlook for these refugees is bleak: the ineffective government of Libya is ill-equipped to handle the large influx, European refugee destination states like Italy and Greece are already overburdened by the Syrian refugee crisis and are reluctant to accept more refugees, leaving the powerful and armed Libyan militia in control of a situation that is ripe for exploitation. (3) The combined intervention of the international community, led by a newly committed and engaged American foreign policy. In conclusion, a new American foreign policy approach along with the active engagement of the United Nations, EU, and the African Union can effectively resolve this humanitarian crisis.

Keywords: slavery, Libya, migrants, slave auction

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Authors: Firman Riyudha, Endrik Mifta Shaiful

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The spread of drug users is one kind of behavioral epidemiology that becomes a threat to every country in the world. This problem caused various crisis simultaneously, including financial or economic crisis, social, health, until human crisis. Most drug users are teenagers at school age. A new deterministic model would be constructed to determine the dynamics of the spread of drug users by considering level of education in a susceptible population. Based on the analytical model, two equilibria points were obtained; there were E₀ (zero user) and E₁ (endemic equilibrium). Existence of equilibrium and local stability of equilibria depended on the Basic Reproduction Ratio (R₀). This parameter was defined as the expected rate of secondary prevalence and primary prevalence in virgin population along spreading primary prevalence. The zero-victim equilibrium would be locally asymptotically stable if R₀ < 1 while if R₀ > 1 the endemic equilibrium would be locally asymptotically stable. The result showed that R₀ was proportional to the rate of interaction of each susceptible population based on educational level with the users' population. It is concluded that there was a need to be given a control in interaction, so that drug users population could be minimized. Numerical simulations were also provided to support analytical results.

Keywords: drugs users, level education, mathematical model, stability

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Authors: Ateba Benedict Belobo, Faan Pelser, Ambe Marcus

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Aims: This study arise from repeated complaints from both electronic mails about the underperformance of Mafikeng Small and Medium-Size enterprises after the global financial crisis. The authors were on the view that, this poor performance experienced could be as a result of the negative effects on the cash flow of these businesses due to volatilities in the business environment in general prior to the global crisis. Thus, the paper was mainly aimed at determining the shortcomings experienced by these SMEs with regards to cash flow management. It was also aimed at suggesting possible measures to improve cash flow management of these SMEs in this tough time. Methods: A case study was conducted on 3 beverage suppliers, 27 bottle stores, 3 largest fast consumer goods super markets and 7 automobiles enterprises in the Mafikeng local municipality. A mixed method research design was employed and a purposive sampling was used in selecting SMEs that participated. Views and experiences of participants of the paper were captured through in-depth interviews. Data from the empirical investigation were interpreted using open coding and a simple percentage formula. Results: Findings from the empirical research reflected that majority of Mafikeng SMEs suffer poor operational performance prior to the global financial crisis primarily as a result of poor cash flow management. However, the empirical outcome also indicted other secondary factors contributing to this poor operational performance. Conclusion: Finally, the authorsproposed possible measures that could be used to improve cash flow management and to solve other factors affecting operational performance of SMEs in the Mafikeng local municipality in other to achieve a better business performance.

Keywords: cash flow, business performance, global financial crisis, SMEs

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Authors: Philip Robert Alldritt

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The continuing increase in human migration is at crisis levels in all areas of the planet. The causes are varied, and the risks are high for the migrants. Migration has been ongoing since the beginning of human emergence on the planet, but for the first time in our historic memory has the, migration reached this level of critical mass. The causes are many. Climate collapse, economic opportunity, drug cartel activity, political upheaval, and gang wars. Many locations are seemingly “within reach” of the migrants, and the push factors are so loaded with hopelessness that almost anyone would be willing to risk anything to improve their conditions. There is no argument about that mass migrations are occurring and will increase in the future. The solutions to this increase are complex. This paper will examine the causes of migration and attempt to provide some reasonable solutions to mitigate the migrations with equitable outcomes that may guide immigration policy in impacted areas.

Keywords: immigration, crisis, climate, cartels

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Authors: Sedigheh Kalantari

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Like many countries in the arid and semi-arid belt, Iran experiences a natural limitation in the availability of water resources. However, rapid socioeconomic development has created a serious water crisis in a nation that was once one of the world’s pioneers in sustainable water management, due to the Persians’ contribution to hydraulic engineering inventions – the Qanat – throughout history. The exogenous issues like the changing climate, frequent droughts, and international sanctions are only crisis catalyzers, not the main cause of the water crisis; and a resilient water management system is expected to be capable of coping with these periodic external pressures. The current dramatic water security issues in Iran are rooted in managerial, political, and institutional challenges rather than engineering and technical issues, and the country is suffering from challenges in water governance. The country, instead of rigorous water conservation efforts, is still focused on supply-driven approach, technology and centralized methods, and structural solutions that aim to increase water supply; while the effectiveness of water governance and management has often left unused. To solve these issues, it is necessary to assess the present situation and its evolution over time. In this respect, establishing water governance assessment mechanisms will be a significant aspect of this paper. The research framework, however, is a conceptual framework to assess governance performance of Iran to critically diagnose problematic issues and areas, as well as proffer empirically based solutions and determine the best possible steps towards transformational processes. This concept aims to measure the adequacy of current solutions and strategies designed to ameliorate these problems and then develop and prescribe adequate futuristic solutions. Thus, the analytical framework developed in this paper seeks to provide insights on key factors influencing water governance in Iranian cities, institutional frameworks to manage water across scales and authorities, multi-level management gaps and policy responses, through an evidence-based approach and good practices to drive reform toward sustainability and water resource conservation. The findings of this paper show that the current structure of the water governance system in Iran, coupled with the lack of a comprehensive understanding of the root causes of the problem, leaves minimal hope for developing sustainable solutions to Iran’s increasing water crisis. In order to follow sustainable development approaches, Iran needs to replace symptom management with problem prevention.

Keywords: governance, Iran, sustainable development, water management, water resources

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Authors: Alessandra Swiny, Michalis Georgiou, Yiorgos Hadjichristou

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This paper focuses on the questions raised through the work of Unit 5: ‘In/Out of crisis, emergent and adaptive’; an architectural research-based studio at the University of Nicosia. It focusses on sustainable architectural and urban explorations tackling with the ever growing crises in its various types, phases and locations. ‘Great crisis situations’ are seen as ‘great chances’ that trigger investigations for further development and evolution of the built environment in an ultimate sustainable approach. The crisis is taken as an opportunity to rethink the urban and architectural directions as new forces for inventions leading to emergent and adaptive built environments. The Unit 5’s identity and environment facilitates the students to respond optimistically, alternatively and creatively towards the global current crisis. Mark Wigley’s notion that “crises are ultimately productive” and “They force invention” intrigued and defined the premises of the Unit. ‘Weather and nature are coauthors of the built environment’ Jonathan Hill states in his ‘weather architecture’ discourse. The weather is constantly changing and new environments, the subnatures are created which derived from the human activities David Gissen explains. The above set of premises triggered innovative responses by the Unit’s students. They thoroughly investigated the various kinds of crisis and their causes in relation to their various types of Terrains. The tools used for the research and investigation were chosen in contradictive pairs to generate further crisis situations: The re-used/salvaged competed with the new, the handmade rivalling with the fabrication, the analogue juxtaposed with digital. Students were asked to delve into state of art technologies in order to propose sustainable emergent and adaptive architectures and Urbanities, having though always in mind that the human and the social aspects of the community should be the core of the investigation. The resulting unprecedented spatial conditions and atmospheres of the emergent new ways of living are deemed to be the ultimate aim of the investigation. Students explored a variety of sites and crisis conditions such as: The vague terrain of the Green Line in Nicosia, the lost footprints of the sinking Venice, the endangered Australian coral reefs, the earthquake torn town of Crevalcore, and the decaying concrete urbanscape of Athens. Among other projects, ‘the plume project’ proposes a cloud-like, floating and almost dream-like living environment with unprecedented spatial conditions to the inhabitants of the coal mine of Centralia, USA, not just to enable them to survive but even to prosper in this unbearable environment due to the process of the captured plumes of smoke and heat. Existing water wells inspire inversed vertical structures creating a new living underground network, protecting the nomads from catastrophic sand storms in the Araoune of Mali. “Inverted utopia: Lost things in the sand”, weaves a series of tea-houses and a library holding lost artifacts and transcripts into a complex underground labyrinth by the utilization of the sand solidification technology. Within this methodology, crisis is seen as a mechanism for allowing an emergence of new and fascinating ultimate sustainable future cultures and cities.

Keywords: adaptive built environments, crisis as opportunity, emergent urbanities, forces for inventions

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Authors: Osatuyi Kehinde Micheal

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There is much research that has contributed to an improved understanding of the future of food security, especially during the COVID-19 pandemic. A pathway was developed by using a local community kitchen in Muizenberg in western cape province, cape town, south Africa, a case study to map out the future of food security in times of crisis. This kitchen aims to provide nutritious, affordable, plant-based meals to our community. It is also a place of diverse learning, sharing, empowering the volunteers, and growth to support the local economy and future resilience by sustaining our community kitchen for the community. This document contains an overview of the story of the community kitchen on how we create self-sustainability as a new pathway development to sustain the community and reduce Zero hunger in the regional food system. This paper describes the key elements of how we respond to covid-19 pandemic by sharing food parcels and creating 13 soup kitchens across the community to tackle the immediate response to covid-19 pandemic and agricultural systems by growing home food gardening in different homes, also having a consciousness Dry goods store to reduce Zero waste and a local currency as an innovation to reduce food crisis. Insights gained from our article and outreach and their value in how we create adaptation, transformation, and sustainability as a new development pathway to solve any future problem crisis in the food security system in our society.

Keywords: sustainability, food security, community development, adapatation, transformation

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Authors: Derya Gül Ünlü, Oguz Kuş

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The branding of a country means that the country has its own position different from other countries in its region and thus it is perceived more specifically. It is made possible by the branding efforts of a country and the uniqueness of all the national structures, by presenting it in a specific way, by creating the desired image and attracting tourists and foreign investors. Establishing a national brand involves, in a sense, the process of managing the perceptions of the citizens of the other country about the target country, by structuring the image of the country permanently and holistically. By this means, countries are not easily affected by their crisis of international relations. Therefore, within the scope of the research that will be carried out from this point, it is aimed to show how the warplane downing crisis between Turkey and Russia is perceived on social media. The Russian warplane was downed by Turkey on November 24, 2015, on the grounds that Turkey violated the airspace on the Syrian border. Whereupon the relations between the two countries have been tensed, and Russia has called on its citizens not to go to Turkey and citizens in Turkey to return to their countries. Moreover, relations between two countries have been weakened, for example, tourism tours organized in Russia to Turkey and visa-free travel were canceled and all military dialogue was cut off. After the event, various news sites on social media published plenty of news related to topic and the readers made various comments about the event and Turkey. In this context, an investigation into the perception of Turkey's national brand before and after the warplane downing crisis has been conducted. through comments fetched from the reports on the BBC World, and from Al Jazeera English news sites on Facebook accounts, which takes place widely in the social media. In order to realize study, user comments were fetched from jet downing-related news which are published on Facebook fan-page of BBC World Service, and Al Jazeera English. Regarding this, all the news published between 24.10.2015-24.12.2015 and containing Turk and Turkey keyword in its title composed data set of our study. Afterwards, comments written to these news were analyzed via text mining technique. Furthermore, by sentiment analysis, it was intended to reveal reader’s emotions before and after the crisis.

Keywords: Al Jazeera English, BBC World, country branding, social media, text mining

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Authors: R. Conde

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The Brazilian economic projections and social indicators show a future of crisis for the country. Solutions to avoid this crisis scenario are necessary. Several developed countries implement initiatives linked to sustainability, mainly related to the circular economy, to solve their crises quickly - green recovery. This article aims to assess social gains if Brazil followed the same recovery strategy. Furthermore, with the use of data presented and recognized in the international academic society, the number of jobs that can be created, if Brazil took the first steps towards a more circular economy, was found. Moreover, in addition to the gross value in the number of jobs created, this article also detailed the number of these jobs by type of activity (collection, processing, and manufacturing) and by type of material.

Keywords: circular economy, green recovery, job creation, social gains

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Authors: Astha Sinha, Anjali Kanagali

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India has been tackling with less than sophisticated legislations when it comes to recovery of debt and bankruptcy situations for a while now. There were multiple overlapping laws and adjudication forums dealing with financial failures and insolvency of companies/individuals in India without really aiding the timely recover of defaulted assets. It remained dicey for businesses to invest in India since there was a lack of legal and institutional machinery for dealing with debt defaults as per the global standards. After much deliberation, the Indian Draft Insolvency code received the presidential assent on May 28, 2016 bringing the Bankruptcy and Insolvency Code, 2016 into existence. The Code is expected to bring about great progress for the country and specifically has the two standout developments. The first is that it calls for resolution of corporate insolvency within a period of 180 days extendable by 90 days hence bringing about security in the minds of investors. Second is that it calls for the creation of a new class of insolvency professionals whose primary function shall be helping sick companies and banks with their takeovers, provides for setting up an Insolvency and Bankruptcy Board to regulate the same and provides for a two stage process of liquidation. The Code is estimated to help India move up its ranking on the World Bank’s ease of doing business index. It is currently ranked at the 130th position lower than some of the sub-saharan African countries. Besides this, however, there are various areas in which the Code falls short such as lack of provisions for aiding the issue of cross-border insolvency, impact on Medium and Small Enterprises in India etc. This paper aims to analyze the provisions of the new Bankruptcy and Insolvency Code, 2016 and its contribution in making India a more desirable location for doing business. It shall also emphasize on the cross-border insolvency issues, practices followed by other countries to resolve the same and the way forward for India to strengthen its Bankruptcy and Insolvency framework.

Keywords: bankruptcy and insolvency code 2016, cross-border insolvency provisions in the 2016 code, Ease of doing business and bankruptcy code, highlights of the new Indian bankruptcy code 2016

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Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

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Considering the increasing demand for water and limited resources, there is a possibility of a water crisis in the not-so-distant future. Therefore, to prevent this crisis, other options for drinking water supply should be examined. In this regard, the application of multi-criteria decision-making methods in various aspects of water resource management and planning has always been of great interest to researchers. In this report, six options for supplying drinking water to Tehran City were considered. Then, experts' opinions were collected through matrices and questionnaires, and using the TOPSIS method, which is one of the types of multi-criteria decision-making methods, they were calculated and analyzed. In the TOPSIS method, the options were ranked by calculating their proximity to the ideal (Ci). The closer the numerical value of Ci is to one, the more desirable the option is. Based on this, the option with the optimization pattern of water consumption, with Ci = 0.9787, is the best option among the proposed options for supplying drinking water to Tehran City. The other options, in order of priority, are rainwater harvesting, wastewater reuse, increasing current water supply sources, desalination and its transfer, and transferring water from freshwater sources between basins. In conclusion, the findings of this study highlight the importance of exploring alternative drinking water supply options and utilizing multi-criteria decision-making approaches to address the potential water crisis.

Keywords: multi-criteria decision, sustainable development, topsis, water supply

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Authors: Bindhiya Thomas, Rehana Hafeez

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Background: The Surgical Ambulatory Unit (SAU) also known as the Same Day Emergency Care (SDEC) is an established part of many hospitals providing same day emergency care service to surgical patients who would have otherwise required admission through the A&E. Prior to Covid, the SAU was functioning as a 12-hour service, but during the Covid crisis this service was transformed to a 24 hour functioning Surgical Ambulatory Assessment unit (SAAU). We studied the effects that this change brought about in-patient care in our hospital. Objective: The objective of the study was to assess the impact of a 24-hour Surgical Ambulatory Assessment unit on patient care during the time of Covid, in particular its role in freeing A&E capacity and delivering effective patient care. Methods: We collected two sets of data retrospectively. The first set was collected over a 6-week period when the SAU was functioning at the Princess Royal University Hospital. On March 23rd, 2020, the SAU was transformed into a 24-hour SAAU. Following this transformation, a second set of patient data was collected over a period of 6 weeks. A comparison was made between data collected from when the hospital had a 12-hour Surgical Ambulatory unit and later when it was transformed into a 24-hour facility. Its effects on the change in the number of patients breaching the four hour waiting period and the number of emergency surgical admissions. Results: The 24-hour Surgical Ambulatory Assessment unit brought significant reductions in the number of patients breaching the waiting period of 4 hours in A&E from 44% during the period of the 12-hour Surgical Ambulatory care facility to 0% from when the 24-hour Surgical Ambulatory Assessment Unit was established. A 28% reduction was also seen in the number of surgical patients' admissions from A&E. Conclusions: The 24-hour SAAU was found to have a profound positive impact on emergency care of surgical patients. Especially during the Covid crisis, it played a crucial role in providing not only effective and accessible patient care but also in reducing the A&E workload and admissions. It thus proved to be a strategic tool that helped to deal with the immense workload in emergency care during the Covid crisis and helped free much needed headspace at a time of uncertainty for the A&E to better configure their services. If sustained, the 24-hour SAAU could be relied on to augment the NHS emergency services in the future, especially in the event of another crisis.

Keywords: Princess Royal University Hospital, surgical ambulatory assessment unit, surgical ambulatory unit, same day emergency care

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Authors: Jiří F. Urbánek, Jiří Barta

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Societal security, continuity scenarios, and methodological cycling approach understands in this article. Namely, societal security organizational challenges ask implementation of international standards BS 25999-2 and global ISO 22300 which is a family of standards for business continuity management system. Efficient global organization system is distinguished of high entity´s complexity, connectivity, and interoperability, having not only cooperative relations in a fact. Competing business have numerous participating ´enemies´, which are in apparent or hidden opponent and antagonistic roles with prosperous organization systems, resulting to a crisis scene or even to a battle theater. Organization business continuity scenarios are necessary for such ´a play´ preparedness, planning, management, and overmastering in real environments.

Keywords: business continuity, societal security, crisis scenarios cycles, interoperability

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Authors: Ramin Barati, Atefeh Salemi

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In Victorian era, the society had been surrounded by extreme class ranking in order to identify the people of the classes and to intensify power relationships due to the growth of industry in Charles Dickens's (1812-1870) Great Expectations (2003) in which he illustrates the clash and dichotomy in the 19th century London. The classes in Victorian period have socially divided the population into two parts, the lower and the upper class of the community. In such a panopticon society, the major character Pip was the best example of the working class who was under the domination of violence, malice, and abuse of Miss Havisham as a member of the ruling class in order to take revenge on her failures. The conflict and disunity represented in vindictiveness and the sense of revenge applied by Miss Havisham against his victim Pip, made him experience alienation and eventually suffer from identity crisis. This paper considers New Historicism based on the theories of the French critic Michel Foucault (1926-1984). The social concept, panopticism, was called after the panopticon society, basically elaborated by Foucault in his book Discipline and Punish (1975) and he considers the panopticon as a sign of punitive community of surveillance. This paper evaluates the problems of a dual society to show that the people of the lower class are under the domination of capitalist society.

Keywords: class, identity crisis, violence, panoptic society, domination

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Authors: Levan Sabauri

Abstract:

In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Ilias A. Makris

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In this work, we attempt to associate firm characteristics with innovative activity. We collect microdata from listed firms of selected Eurozone Country-members, after the beginning of 2007 financial crisis. The following literature, several indicators of growth and performance were selected and tested for their ability to interpret innovative activity. The main scope is to examine the possible differences in performance and growth between innovative and non-innovative firms, during a severe recession. Additionally to that, a special focus will be held on whether macroeconomic performance and national innovation system, determines the extent of innovators' performance. Preliminary findings, through correlation matrices and non-parametric tests, strongly indicate the positive relation between innovative activity and most of the measures used (profitability, size, employment), confirming that even during a recessionary period, innovative firms not only survive but also seem to succeed better economic results in almost all indexes relative to non-innovative. However, even though innovators seem to perform better in all economies examined, the extent of that performance seems to be strongly affected by the supportive mechanisms (financial and structural) that their country provides. Thus, it is clear, that the technologically intensive 'gap' between European South and North, during the economic crisis, became chaotic, due to the harsh austerity measures and reduced budgets in those countries, even in sectors with high potentials in economic activity and employment, impairing the effects of crisis and enhancing the vicious circle of recession.

Keywords: eurozone, innovative activity, development, firm performance, non-parametric tests

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Authors: Azadeh Shahbazi

Abstract:

This study tries to find out the determinants of capital structure in hotel industry in 7 important hotel chains in USA within the period of 12 years of 2000 to 2012. The study is used a panel pooled regression to realize the relation among different variables. Results show that the variables which could make changes in the capital structure of firms are Non-Debt Tax Shield and Tangibility.

Keywords: capital structure, service industry, hospitality, finance

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Authors: Zarina Othman, Bakri Mat, Aini Fatihah Roslam

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The Burmese ethnic known as Rohingya is one of the world’s most persecuted ethnic minorities on earth. They have been massacred, discriminated, humiliated, gang-raped, trafficked, abused and neglected. More than one million Rohingyas have been displaced internally and overseas. Currently, Rohingya asylum seekers can be found in India, Bangladesh, Thailand, Malaysia, and Indonesia. This forced migration is unacceptable since the Rohingya are stateless although they have been part of Myanmar for more than one century. Why the Rohingyas crisis is important to be analyse from human security perspectives? Understanding the human security of the Rohingya is important because the crisis may have implication on the regional stability in South and South-East Asia. The objectives of the research are to provide an explanation to the current human security situation in Myanmar, to analyse the regional implication of the Rohingya’s crisis and to recommend the workable solution that may help to reduce the tension. To analyze and demonstrate the case, the research has adopted the BAGHUS or Bangi Human Security Approach, a Southeast Asian human security model, designed to protect the weakest and the vital core of human life across national borders. Based on a qualitative research, and a review of literature from secondary sources of books, reports and academic journals, the research has conducted interviews with 1) Rohingya respondents in Cox’s Baza in February 2017; 2) experts and scholars in the field in Bangladesh, Myanmar and Malaysia. Preliminary findings suggest that conflicts lead to displacement and migration across borders, human insecurity is an issue where the implementation of human rights is too slow to take place even in sovereign state like Myanmar. The political and economic interests of many extraregional powers have further contributed to the current crisis. Human security perspectives is suggested as the workable solution for stability and peace in the region.

Keywords: human security, migration, Myanmar, regional security, Rohingya

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Authors: Inka Maria Vilhelmiina Hiltunen

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The crisis of liberal democracy has been recognized from many sites of political literature; scholars of Marxist critical political economy and deliberative democracy, as well as critics of neoliberalism, have become concerned about how either the rise of populism and authoritarianism, institutional decline or the overarching economic rationality erode political democratic citizenship in favor of economic technocracy or conservative protectionism. However, even if these bodies of literature recognize the generalized crisis that haunts Western democracies, dialogue between them has been very limited. That said, drawing from contemporary Marxist perspectives, this article aims at bridging the gap between the criticism of neoliberalism and theories of deliberative democracy. The first section starts by outlining what is meant by neoliberalism, liberal democracy, and the crisis of liberal democracy. The next section explores how contemporary capitalism acts upon society and transforms it. It introduces Jurgen Habermas’ thesis of the ‘colonization of the lifeworld’, Wendy Brown’s analysis of neoliberal rationality and Étienne Balibar’s concepts of ‘absolute capitalism’ and ‘total subsumption,’ that the essay aims at connecting in the last section. The third section is concerned with the deliberative democratic theory and practice. The section highlights the qualitative socio-political impacts of deliberation, as predicted by theorists and shown by empirical studies. The last section draws from contemporary Marxist perspectives to examine the question if deliberative democratic theories and practices can resolve the crisis of liberal democracy in the current financially driven era of neoliberal capitalism. By asking this question, the essay aims to consider what is required to reverse the current global trend of rising inequality. If liberal democracy has declined towards commodified and reactionary forms of politics and if ‘market rationality’ has shaped social agency to the extent that politicians and the public struggle to imagine ‘any alternatives’, the most urgent political task is to bring to life a new political imagination based on democratic ideals of equality, inclusivity, reciprocity, and solidarity, that thereby enables the revision of the transnational institutional design. This part focuses on the hegemonic role of finance and money. The essay concludes by stating that the implementation of substantive global democracy must start from the dissolution of the hegemony of finance, centered on U.S., and from the remaking of the conditions of socioeconomic reproduction world-wide. However, given the still present overarching neoliberal status quo, the essay is skeptical of the ideological feasibility of this remaking.

Keywords: deliberative democracy, criticism of neoliberalism, marxist political economy, crisis of liberal democracy

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Authors: Mpai Mokoena, Nsenda Lukumwena

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South Africa is one of the driest countries in the world and is facing a water crisis. In addition to inadequate infrastructure and poor planning, the country is experiencing high rates of water wastage due to pipe leaks. This study outlines the level of water wastage and develops a smart solution to efficiently manage and reduce the effects of pipe leaks, while monitoring the situation before and after fixing the pipe leaks. To understand the issue in depth, a literature review of journal papers and government reports was conducted. A questionnaire was designed and distributed to the general public. Additionally, the municipality office was contacted from a managerial perspective. The analysis from the study indicated that the majority of the citizens are aware of the water crisis and are willing to participate positively to decrease the level of water wasted. Furthermore, the response from the municipality acknowledged that more practical solutions are needed to reduce water wastage, and resources to attend to pipe leaks swiftly. Therefore, this paper proposes a specific solution for municipalities, local plumbers and citizens to minimize the effects of pipe leaks. The solution provides web and mobile application platforms to report and manage leaks swiftly. The solution is beneficial to the country in achieving water security and would promote a culture of responsibility toward water usage.

Keywords: urban distribution networks, leak management, mobile application, responsible citizens, water crisis, water security

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Authors: Tatia Tavkhelidze

Abstract:

The European agenda on multiculturalism has undermined Muslim communities through cultural repulsion. Muslims have been labeled as primitive and dangerous people. They experience discrimination at university, workplace, or in the public sphere on a daily basis. Keeping this in view, the proposed research argues that the coining of Muslimness as a problem in modern European societies indicates the crisis of multiculturalism and it could be explained by the anthropological theory of cultural othering. To prove this assumption, the research undertakes a content analysis of modern policy discourse about Muslims and Islam in different European countries (e.g. France, Austria, Denmark, and Hungary). It focuses on the speech of populist politicians, right-wing party leaders and state officials. The research findings are of great significance as they elucidate that the European societies forgot to respect their own values of toleration, religious liberty and democracy; and undermine the European motto 'unity in diversity.

Keywords: assimilation, islamophobia, multiculturalism, populism

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