Search results for: traditional knowledge
9009 Understanding Climate Change with Chinese Elderly: Knowledge, Attitudes and Practices on Climate Change in East China
Authors: Pelin Kinay, Andy P. Morse, Elmer V. Villanueva, Karyn Morrissey, Philip L Staddon, Shanzheng Zhang, Jingjing Liu
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The present study aims to evaluate the climate change and health related knowledge, attitudes and practices (KAP) of the elderly population (60 years plus) in Hefei and Suzhou cities of China (n=300). This cross-sectional study includes 150 participants in each city. Data regarding demographic characteristics, KAP, and climate change perceptions were collected using a semi-structured questionnaire. When asked about the potential impacts of climate change over 79% of participants stated that climate change affected their lifestyle. Participants were most concerned about storms (51.7%), food shortage (33.3%) and drought (26%). The main health risks cited included water contamination (32%), air pollution related diseases (38.3%) and lung disease (43%). Finally, a majority (68.3%) did not report receiving government assistance on climate change issues. Logistic regression models were used to analyse the data in order to understand the links between socio-demographical factors and KAP of the participants. These findings provide insights for potential adaptation strategies targeting the elderly. It is recommended that government should take responsibility in creating awareness strategies to improve the coping capacity of elderly in China to climate change and its health impacts and develop climate change adaptation strategies.Keywords: China, climate change, elderly, KAP
Procedia PDF Downloads 2709008 Assessment of Utilization of Provider Initiated HIV Testing and Counseling and Associated Factors among Adult out Patient Department Patients in Wonchi Woreda, South West Shoa Zone, Central Ethiopia
Authors: Dinka Fikadu, Mulugeta Shegaze
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Background: Currently in health facility, provider-initiated human immunodeficiency virus testing is the key entry point to prevention, care, treatment and support services, but most people remains unaware of their HIV status due to various reasons. In many high-prevalence countries, fewer than one in ten people with HIV are aware of their HIV status. HIV, the virus that causes AIDS, “acquired immunodeficiency syndrome, "has become one of the world’s most serious health and development challenges. Reaching individuals with HIV who do not know their serostatus is a global public health priority. Objective: To assess utilization of provider initiated HIV testing and counseling and associated factors among adult outpatient department patients. Methods: Health facility based cross sectional study was conducted among 392 adult outpatient department patients in Wonchi woreda from February 24 to March 24 /2013. The study participant was recruited patients from all adult outpatient department patients of all four public health facilities of wonchi woreda using systematic sampling. A structured interviewer administered questionnaire was used to elicit all important variables from the study participants and multiple logistic regression analysis was used. Result: A total of 371 adult outpatient department patients aged between 15 to 64 years were actively participated in the study and 291(78.4%) of them utilized provider initiated HIV testing and counseling and 80(21.6%) of them refused. Knowledge on HIV is low in the study population; majority of the participants didn’t have comprehensive knowledge (64.7%) and (35.3%) fail to reject misconception about means of HIV transmission and prevention. Utilization of provider-initiated HIV testing and counseling were associated with divorced/widowed marital status[AOR (95%CI) = 0.32(0.15, 0.69)], being male sex [AOR (95%CI) =1.81(1.01, 3.24)], having comprehensive knowledge on HIV [AOR (95%CI) =0.408(0.220,0.759)],having awareness about provider initiated HIV testing and counseling [AOR(95%CI) =2.89(1.48,5.66)] and receiving test on HIV before[AOR (95%CI)=4.15(2.30, 7.47)]. Conclusion: Utilization of provider initiated HIV testing and counseling among adult outpatient departments in wonchi woreda public health facility was [(78.4%)].Strengthening health information through mass media and peer education on HIV to address barrier to testing in the community such as low awareness on PITC, to increase up take of PITC among adult OPD patients.Keywords: utilization, human immune deficiency, testing, provider, initiate
Procedia PDF Downloads 3109007 A Proposal for Professional Development of Mathematics Teachers in the Kingdom of Saudi Arabia According to the Orientation of Science, Technology, Engineering and Mathematics (STEM)
Authors: Ali Taher Othman Ali
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The aim of this research is to provide a draft proposal for the professional development of mathematics teachers in accordance with the orientation of science, technology, engineering and mathematics which is known by the abbreviation STEM, as a modern and contemporary orientation in the teaching and learning of mathematics and in order to achieve the objective of the research, the researcher used the theoretical descriptive method through the induction of the literature of education and the previous studies and experiments related to the topic. The researcher concluded by providing the proposal according to five basic axes, the first axe: professional development as a system, and its requirements include: development of educational systems, and allocate sufficient budgets to support the requirements of teaching STEM, identifying mechanisms for incentives and rewards for teachers attending professional development programs based on STEM; the second: development of in-depth knowledge content and its requirements include: basic sciences content development for STEM, linking the scientific understanding of teachers with real-world issues and problems, to provide the necessary resources to expand teachers' knowledge in this area; the third: the necessary pedagogical skills of teachers in the field of STEM, and its requirements include: identification of the required training and development needs and the mechanism of determining these needs, the types of professional development programs and the mechanism of designing it, the mechanisms and places of execution, evaluation and follow-up; the fourth: professional development strategies and mechanisms in the field of STEM, and its requirements include: using a variety of strategies to enable teachers to design and transfer effective educational experiences which reflect their scientific mastery in the fields of STEM, provide learning opportunities, and developing the skills of procedural research to generate new knowledge about the STEM; the fifth: to support professional development in the area of STEM, and its requirements include: support leadership within the school, provide a clear and appropriate opportunities for professional development for teachers within the school through professional learning communities, building partnerships between the Ministry of education and the local and international community institutions. The proposal includes other factors that should be considered when implementing professional development programs for mathematics teachers in the field of STEM.Keywords: professional development, mathematics teachers, the orientation of science, technology, engineering and mathematics (STEM)
Procedia PDF Downloads 4129006 DesignChain: Automated Design of Products Featuring a Large Number of Variants
Authors: Lars Rödel, Jonas Krebs, Gregor Müller
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The growing price pressure due to the increasing number of global suppliers, the growing individualization of products and ever-shorter delivery times are upcoming challenges in the industry. In this context, Mass Personalization stands for the individualized production of customer products in batch size 1 at the price of standardized products. The possibilities of digitalization and automation of technical order processing open up the opportunity for companies to significantly reduce their cost of complexity and lead times and thus enhance their competitiveness. Many companies already use a range of CAx tools and configuration solutions today. Often, the expert knowledge of employees is hidden in "knowledge silos" and is rarely networked across processes. DesignChain describes the automated digital process from the recording of individual customer requirements, through design and technical preparation, to production. Configurators offer the possibility of mapping variant-rich products within the Design Chain. This transformation of customer requirements into product features makes it possible to generate even complex CAD models, such as those for large-scale plants, on a rule-based basis. With the aid of an automated CAx chain, production-relevant documents are thus transferred digitally to production. This process, which can be fully automated, allows variants to always be generated on the basis of current version statuses.Keywords: automation, design, CAD, CAx
Procedia PDF Downloads 839005 Partnering with Stakeholders to Secure Digitization of Water
Authors: Sindhu Govardhan, Kenneth G. Crowther
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Modernisation of the water sector is leading to increased connectivity and integration of emerging technologies with traditional ones, leading to new security risks. The convergence of Information Technology (IT) with Operation Technology (OT) results in solutions that are spread across larger geographic areas, increasingly consist of interconnected Industrial Internet of Things (IIOT) devices and software, rely on the integration of legacy with modern technologies, use of complex supply chain components leading to complex architectures and communication paths. The result is that multiple parties collectively own and operate these emergent technologies, threat actors find new paths to exploit, and traditional cybersecurity controls are inadequate. Our approach is to explicitly identify and draw data flows that cross trust boundaries between owners and operators of various aspects of these emerging and interconnected technologies. On these data flows, we layer potential attack vectors to create a frame of reference for evaluating possible risks against connected technologies. Finally, we identify where existing controls, mitigations, and other remediations exist across industry partners (e.g., suppliers, product vendors, integrators, water utilities, and regulators). From these, we are able to understand potential gaps in security, the roles in the supply chain that are most likely to effectively remediate those security gaps, and test cases to evaluate and strengthen security across these partners. This informs a “shared responsibility” solution that recognises that security is multi-layered and requires collaboration to be successful. This shared responsibility security framework improves visibility, understanding, and control across the entire supply chain, and particularly for those water utilities that are accountable for safe and continuous operations.Keywords: cyber security, shared responsibility, IIOT, threat modelling
Procedia PDF Downloads 809004 Guidelines for Enhancing the Learning Environment by the Integration of Design Flexibility and Immersive Technology: The Case of the British University in Egypt’s Classrooms
Authors: Eman Ayman, Gehan Nagy
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The learning environment has four main parameters that affect its efficiency which they are: pedagogy, user, technology, and space. According to Morrone, enhancing these parameters to be adaptable for future developments is essential. The educational organization will be in need of developing its learning spaces. Flexibility of design an immersive technology could be used as tools for this development. when flexible design concepts are used, learning spaces that can accommodate a variety of teaching and learning activities are created. To accommodate the various needs and interests of students, these learning spaces are easily reconfigurable and customizable. The immersive learning opportunities offered by technologies like virtual reality, augmented reality, and interactive displays, on the other hand, transcend beyond the confines of the traditional classroom. These technological advancements could improve learning. This thesis highlights the problem of the lack of innovative, flexible learning spaces in educational institutions. It aims to develop guidelines for enhancing the learning environment by the integration of flexible design and immersive technology. This research uses a mixed method approach, both qualitative and quantitative: the qualitative section is related to the literature review theories and case studies analysis. On the other hand, the quantitative section will be identified by the results of the applied studies of the effectiveness of redesigning a learning space from its traditional current state to a flexible technological contemporary space that will be adaptable to many changes and educational needs. Research findings determine the importance of flexibility in learning spaces' internal design as it enhances the space optimization and capability to accommodate the changes and record the significant contribution of immersive technology that assists the process of designing. It will be summarized by the questionnaire results and comparative analysis, which will be the last step of finalizing the guidelines.Keywords: flexibility, learning space, immersive technology, learning environment, interior design
Procedia PDF Downloads 1029003 Ethno-Botanical Research on Medicinal Plants Commonly Used for Children’s Health in South East Nigeria
Authors: Chioma J. Nwakamma, Blessing O. Oyedemi, Garuba Omosun
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This research surveys and documents information on medicinal plants and their botanical preparations used in the treatment of children’s ailments in South-Eastern Nigeria. Children under the age of 5 in developing countries suffer from diseases with high morbidity and mortality rate yearly due to inaccessible and unaffordable healthcare. Structured questionnaires were administered to herbal sellers, traditional medicine practitioners, nursing mothers, and adult dwellers to collect data on the names of plants used to treat the conditions, methods of preparation, duration of treatment, adverse effects, and the methods of administration of the plant materials. A total of 135 plants belonging to 55 families were identified for the management of children’s health in the area. Common pediatric ailments which were said to be treated with herbal remedies by the respondents included malaria, pneumonia, stomach ache, diarrhea, dysentery, measles, chickenpox/smallpox, convulsion, jaundice, pile, ringworm, scabies, eczema, stubborn cough, scurvy, catarrh, wounds, boils, insect bites, food poison, cholera, and umbilical cord complications. Percentages of respondents were; herbal sellers (48.2%), traditional medical practitioners (21.6%), nursing mothers (11.1%), and others (19.1%). The most occurring plant families were Euphorbiaceae, Fabaceae, and Apocynaceae, with 8 species of plants each followed by Annonaceae and Asteriaceae with 7 and 6 species, respectively. The recipes were made from the combination of different parts of two or more plant species, and others were made from single plant parts. Methods of extraction were mostly decoction and raw-squeezing out of the juice and infusion, while oral administration was the main route of administration.Keywords: ethno-botanicals, children’s health, medicinal plants, South-Eastern Nigeria
Procedia PDF Downloads 1079002 Acute and Subacute Toxicity of the Aqueous Extract of the Bark Stems of Balanites aegyptiaca (L.) Delile in Wistar Rats
Authors: Brahim Sow
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Background: Throughout West Africa, Balanites aegyptiaca (BA), or Zygophyllaceae, is widely used in traditional medicine to treat diabetes, hypertension, inflammation, malaria and liver disorders. In our recent research, we found that BA has nephroprotective potential against diabetes mellitus, hypertension and kidney disorders. However, to our knowledge, no systematic studies have been carried out on its derivative (toxicity) profile. Aim of the study: The study was conducted to assess the potential potency of the hydroalcoholic extract of BA bark in rats by the acute and sub-acute oral route. Materials and methods: Male and female rats in the acute depression study received BA extract orally at single doses of 500 mg/kg, 2000 mg/kg, 3000 mg/kg and 5000 mg/kg (n = 6 per group/sex). To assess acute depression, abnormal behaviour, toxic symptoms, weight and death were observed for 14 consecutive days. For the subacute impairment study, Wistar rats received the extract orally at doses of 125, 250 and 500 mg/kg (n=6 per group/sex) per day for 28 days. Behaviour and body weight were monitored daily. At the end of the treatment period, biochemical, haematological and histopathological examinations were performed, and gross and histopathological examinations of several organs were carried out. To determine the presence or absence of phytochemicals, the BA extract was subjected to gage phage chromatographic examination. Results: The absence of absorption chromatography of BA indicates the absence of cyanide groups. This suggests that the BA extract does not contain toxic substances. No mortality or adverse effects were observed at 5000 mg/kg in the acute depression test. With regard to body weight, general behaviour, relative organ weights, haematological and biochemical parameters, BA extract did not induce any mortality or potentially treatment-related effects in the sub-acute study. The normal architecture of the vital organs was revealed by histopathological examination, indicating the absence of morphological alterations. Conclusion: BA extract administered orally for 28 days at doses up to 500 mg/kg did not cause toxicological damage in rats in the present study. The median lethal dose (LD50) of the extract was estimated to be over 5000 mg/kg in an acute hyperglycaemia study.Keywords: Balanites aegyptiaca L Delile, haematology, biochemistry, rat
Procedia PDF Downloads 829001 3D Printing Perceptual Models of Preference Using a Fuzzy Extreme Learning Machine Approach
Authors: Xinyi Le
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In this paper, 3D printing orientations were determined through our perceptual model. Some FDM (Fused Deposition Modeling) 3D printers, which are widely used in universities and industries, often require support structures during the additive manufacturing. After removing the residual material, some surface artifacts remain at the contact points. These artifacts will damage the function and visual effect of the model. To prevent the impact of these artifacts, we present a fuzzy extreme learning machine approach to find printing directions that avoid placing supports in perceptually significant regions. The proposed approach is able to solve the evaluation problem by combing both the subjective knowledge and objective information. Our method combines the advantages of fuzzy theory, auto-encoders, and extreme learning machine. Fuzzy set theory is applied for dealing with subjective preference information, and auto-encoder step is used to extract good features without supervised labels before extreme learning machine. An extreme learning machine method is then developed successfully for training and learning perceptual models. The performance of this perceptual model will be demonstrated on both natural and man-made objects. It is a good human-computer interaction practice which draws from supporting knowledge on both the machine side and the human side.Keywords: 3d printing, perceptual model, fuzzy evaluation, data-driven approach
Procedia PDF Downloads 4439000 Understanding the Heart of the Matter: A Pedagogical Framework for Apprehending Successful Second Language Development
Authors: Cinthya Olivares Garita
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Untangling language processing in second language development has been either a taken-for-granted and overlooked task for some English language teaching (ELT) instructors or a considerable feat for others. From the most traditional language instruction to the most communicative methodologies, how to assist L2 learners in processing language in the classroom has become a challenging matter in second language teaching. Amidst an ample array of methods, strategies, and techniques to teach a target language, finding a suitable model to lead learners to process, interpret, and negotiate meaning to communicate in a second language has imposed a great responsibility on language teachers; committed teachers are those who are aware of their role in equipping learners with the appropriate tools to communicate in the target language in a 21stcentury society. Unfortunately, one might find some English language teachers convinced that their job is only to lecture students; others are advocates of textbook-based instruction that might hinder second language processing, and just a few might courageously struggle to facilitate second language learning effectively. Grounded on the most representative empirical studies on comprehensible input, processing instruction, and focus on form, this analysis aims to facilitate the understanding of how second language learners process and automatize input and propose a pedagogical framework for the successful development of a second language. In light of this, this paper is structured to tackle noticing and attention and structured input as the heart of processing instruction, comprehensible input as the missing link in second language learning, and form-meaning connections as opposed to traditional grammar approaches to language teaching. The author finishes by suggesting a pedagogical framework involving noticing-attention-comprehensible-input-form (NACIF based on their acronym) to support ELT instructors, teachers, and scholars on the challenging task of facilitating the understanding of effective second language development.Keywords: second language development, pedagogical framework, noticing, attention, comprehensible input, form
Procedia PDF Downloads 358999 Effect of Extracorporeal Shock Wave Therapy on Post Burn Scars
Authors: Mahmoud S. Zaghloul, Mohammed M. Khalaf, Wael N. Thabet, Haidy N. Asham
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Background. Hypertrophic scarring is a difficult problem for burn patients, and scar management is an essential aspect of outpatient burn therapy. Post-burn pathologic scars involve functional and aesthetic limitations that have a dramatic influence on the patient’s quality of life. The aim was to investigate the use of extracorporeal shock wave therapy (ESWT), which targets the fibroblasts in scar tissue, as an effective modality for scar treatment in burn patients. Subjects and methods: forty patients with post-burn scars were assigned randomly into two equal groups; their ages ranged from 20-45 years. The study group received ESWT and traditional physical therapy program (deep friction massage, stretching exercises). The control group received traditional physical therapy program (deep friction massage, stretching exercises). All groups received two sessions per week for six successful weeks. The data were collected before and after the same period of treatment for both groups. Evaluation procedures were carried out to measure scar thickness using ultrasonography and Vancouver Scar Scale (VSS) was completed before and after treatment. Results: Post-treatment results showed that there was a significant improvement difference in scar thickness in both groups in favor of the study group. Percentage of improvement in scar thickness in the study group was 42.55%, while it was 12.15% in the control group. There was also a significant improvement difference between results obtained using VSS in both groups in favor of the study group. Conclusion: ESWT is effective in management of pathologic post burn scars.Keywords: extracorporeal shock wave therapy, post-burn scars, ultrasonography, Vancouver scar scale
Procedia PDF Downloads 2568998 Quantitative Polymerase Chain Reaction Analysis of Phytoplankton Composition and Abundance to Assess Eutrophication: A Multi-Year Study in Twelve Large Rivers across the United States
Authors: Chiqian Zhang, Kyle D. McIntosh, Nathan Sienkiewicz, Ian Struewing, Erin A. Stelzer, Jennifer L. Graham, Jingrang Lu
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Phytoplankton plays an essential role in freshwater aquatic ecosystems and is the primary group synthesizing organic carbon and providing food sources or energy to ecosystems. Therefore, the identification and quantification of phytoplankton are important for estimating and assessing ecosystem productivity (carbon fixation), water quality, and eutrophication. Microscopy is the current gold standard for identifying and quantifying phytoplankton composition and abundance. However, microscopic analysis of phytoplankton is time-consuming, has a low sample throughput, and requires deep knowledge and rich experience in microbial morphology to implement. To improve this situation, quantitative polymerase chain reaction (qPCR) was considered for phytoplankton identification and quantification. Using qPCR to assess phytoplankton composition and abundance, however, has not been comprehensively evaluated. This study focused on: 1) conducting a comprehensive performance comparison of qPCR and microscopy techniques in identifying and quantifying phytoplankton and 2) examining the use of qPCR as a tool for assessing eutrophication. Twelve large rivers located throughout the United States were evaluated using data collected from 2017 to 2019 to understand the relation between qPCR-based phytoplankton abundance and eutrophication. This study revealed that temporal variation of phytoplankton abundance in the twelve rivers was limited within years (from late spring to late fall) and among different years (2017, 2018, and 2019). Midcontinent rivers had moderately greater phytoplankton abundance than eastern and western rivers, presumably because midcontinent rivers were more eutrophic. The study also showed that qPCR- and microscope-determined phytoplankton abundance had a significant positive linear correlation (adjusted R² 0.772, p-value < 0.001). In addition, phytoplankton abundance assessed via qPCR showed promise as an indicator of the eutrophication status of those rivers, with oligotrophic rivers having low phytoplankton abundance and eutrophic rivers having (relatively) high phytoplankton abundance. This study demonstrated that qPCR could serve as an alternative tool to traditional microscopy for phytoplankton quantification and eutrophication assessment in freshwater rivers.Keywords: phytoplankton, eutrophication, river, qPCR, microscopy, spatiotemporal variation
Procedia PDF Downloads 1058997 The Role of Digital Technology in Crime Prevention: A Case Study of Cellular Forensics Unit, Capital City Police Peshawar
Authors: Muhammad Ashfaq
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Main theme: This prime focus of this study is on the role of digital technology in crime prevention, with special focus on Cellular Forensic Unit, Capital City Police Peshawar-Khyber Pakhtunkhwa-Pakistan. Objective(s) of the study: The prime objective of this study is to provide statistics, strategies, and pattern of analysis used for crime prevention in Cellular Forensic Unit of Capital City Police Peshawar, Khyber Pakhtunkhwa-Pakistan. Research Method and Procedure: Qualitative method of research has been used in the study for obtaining secondary data from research wing and Information Technology (IT) section of Peshawar police. Content analysis was the method used for the conduction of the study. This study is delimited to Capital City Police and Cellular Forensic Unit Peshawar-KP, Pakistan. information technologies. Major finding(s): It is evident that the old traditional approach will never provide solutions for better management in controlling crimes. The best way to control crimes and promotion of proactive policing is to adopt new technologies. The study reveals that technology have transformed police more effective and vigilant as compared to traditional policing. The heinous crimes like abduction, missing of an individual, snatching, burglaries, and blind murder cases are now traceable with the help of technology. Recommendation(s): From the analysis of the data, it is reflected that Information Technology (IT) expert should be recruited along with research analyst to timely assist and facilitate operational as well as investigation units of police. A mobile locator should be Provided to Cellular Forensic Unit to timely apprehend the criminals. Latest digital analysis software should be provided to equip the Cellular Forensic Unit.Keywords: criminology-pakistan, crime prevention-KP, digital forensics, digital technology-pakistan
Procedia PDF Downloads 998996 Logistics and Supply Chain Management Using Smart Contracts on Blockchain
Authors: Armen Grigoryan, Milena Arakelyan
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The idea of smart logistics is still quite a complicated one. It can be used to market products to a large number of customers or to acquire raw materials of the highest quality at the lowest cost in geographically dispersed areas. The use of smart contracts in logistics and supply chain management has the potential to revolutionize the way that goods are tracked, transported, and managed. Smart contracts are simply computer programs written in one of the blockchain programming languages (Solidity, Rust, Vyper), which are capable of self-execution once the predetermined conditions are met. They can be used to automate and streamline many of the traditional manual processes that are currently used in logistics and supply chain management, including the tracking and movement of goods, the management of inventory, and the facilitation of payments and settlements between different parties in the supply chain. Currently, logistics is a core area for companies which is concerned with transporting products between parties. Still, the problem of this sector is that its scale may lead to detainments and defaults in the delivery of goods, as well as other issues. Moreover, large distributors require a large number of workers to meet all the needs of their stores. All this may contribute to big detainments in order processing and increases the potentiality of losing orders. In an attempt to break this problem, companies have automated all their procedures, contributing to a significant augmentation in the number of businesses and distributors in the logistics sector. Hence, blockchain technology and smart contracted legal agreements seem to be suitable concepts to redesign and optimize collaborative business processes and supply chains. The main purpose of this paper is to examine the scope of blockchain technology and smart contracts in the field of logistics and supply chain management. This study discusses the research question of how and to which extent smart contracts and blockchain technology can facilitate and improve the implementation of collaborative business structures for sustainable entrepreneurial activities in smart supply chains. The intention is to provide a comprehensive overview of the existing research on the use of smart contracts in logistics and supply chain management and to identify any gaps or limitations in the current knowledge on this topic. This review aims to provide a summary and evaluation of the key findings and themes that emerge from the research, as well as to suggest potential directions for future research on the use of smart contracts in logistics and supply chain management.Keywords: smart contracts, smart logistics, smart supply chain management, blockchain and smart contracts in logistics, smart contracts for controlling supply chain management
Procedia PDF Downloads 998995 Corporate Governance and Minority Shareholders Protection in the United Kingdom
Authors: Meltem Karatepe Kaya
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The concept of corporate governance is not new but, due to the recent international financial crisis, it has become prominent in contemporary business, accounting and legal debates. There is a wealth of anecdotal evidence which shows that protection of minority shareholders is an important issue in the corporate governance literature. Minority shareholders typically hold low amounts of stocks, so the benefits gained from their participation in shareholder meetings are very asymmetric to the cost. Therefore, the presence of a good corporate governance structure is the proper protection of and respect for the rights and interests of shareholders, particularly those of minority shareholders. The research will attempt to find answers to the following questions: Why minority shareholders’ rights should be protected? How minority shareholders’ rights could be improved? Does the legal framework in the United Kingdom provide adequate protection for minority shareholders? This study will assess regulations about the legal protections of minority shareholders and try to find answer this question: ’Why is it inevitable for company law to treat in a successful way the problems arising from minority shareholders' conflict with other shareholders of a company?’The protection of minority shareholders is not only a corporate governance objective in its own right but also has added importance particularly in developing countries. In the United Kingdom(UK) and the United States of America(USA), there are diffused ownership structures so that any shareholders do not influence the management of the company. This is in stark contrast to companies in developing countries such as Turkey where controlling shareholders and related insiders are a well-known feature of ownership structures, and where companies are often governed and managed by controlling shareholders such as family firms and associated companies through cross-shareholdings and pyramiding ownership structures. In Turkey, the agency problem is not between shareholders and management. Rather it gives rise to another dimension of the agency problem – a conflict of interest between majority shareholders (controlling) and minority shareholders. This research will make a particularly useful contribution to knowledge-based information and understanding of company law in the UK, particularly minority shareholders' remedies. It will not only give information about law and regulations of minority shareholders' remedies but also it will provide some knowledge about doctrinal discussions and relevant cases. The major contribution to study will be in the knowledge of law and regulation in the legal protections of minority shareholders in the United Kingdom and Turkey. In this study, the recommendations will be given for the development of the legal framework and practices of protections for minority shareholders and small investors.Keywords: controlling shareholders, corporate governance, derivative actions, minority shareholders
Procedia PDF Downloads 1788994 The Effect of Education given to Parents of Children with Sickle Cell Anemia in Turkey and Chad to Reduce Children's Pain
Authors: Fatima El Zahra Amin, Emine Efe
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This study was carried out to evaluate the effect of the education program for parents of children with Sickle Cell Anemia, on the knowledge level of parents and the reduction of pain relief by non-pharmacological methods used by parents at home. In Turkey, 54 parents and 109 from Chad agreed to participate in the survey. The data were collected by the researcher using a face-to-face interview method. Non-pharmacological treatment information form for parents, face expressions rating scale, and parent education program for non-pharmacological methods used in children with sickle cell anemia were used. It was determined that there was a statistically significant difference between the educational status, occupation, disease status, place of residence, family structure and age of parents of Chad and Turkey. According to the ratings of facial expressions scale, it was concluded that there was no significant difference between the children’s average degree of pain before and after administration of non-pharmacological methods by the groups of Chad and Turkey. It was determined that the educational programs prepared for parents of children with sickle cell anemia in both Turkey and Chad were effective in increasing the knowledge level of parents and also in reducing pain crisis with non-pharmacological methods parents used at home.Keywords: Chad, child, non-pharmacological treatment methods, nurse, sickle cell anemia, Turkey
Procedia PDF Downloads 2758993 The Prevailing Practice of Night Hunting in Central Bhutan: Traditional Practice of Courtship as a Sexual Coercion to Women
Authors: Ugyen Phuntsho
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A popular and entrenched custom as a form of courtship has been practicing in Bhutan from long time back. This custom is widely being practiced in the villages of eastern and central Bhutan. This long-practiced custom is known by different terms in Bhutan, but it is popularly known to the foreigners as ‘night hunting’. This unique form of courtship custom involves the boy visiting the girl’s house stealthily under the cover of darkness without any pre-appointment. It is still perceived as a serving norms of courtship in the villages in central Bhutan. For many years this practice of night hunting has been in the spotlight of debate as a harmless culture but as sexual violence against women. However, this study examined the changing perception on the night hunting as a form of courtship custom or sexual coercion to women by employing the in-depth interview with 42 participants (21 females and 9 males from 3 different villages, 5 females and 7 males from urban areas) in central Bhutan. Moreover, the study investigated the gender inequality linked with the practice of night hunting in the rural areas of central Bhutan. The study revealed the changing perception on night hunting as more of sexual coercion taking place during night hunting than merely tolerating it as traditional form of practice of courtship. The finding of this study revealed unlike the past; this practice serves minimal social purpose in the society as the social changes with the development of socioeconomic of the people. However, the practice of night hunting is still prevalent at the villages, and it is known that the social power, single and widow women, valuing of village endogamy practices and the popular notion of pride of promiscuous amongst the men have attributed in sexual coercion and in ultimate victimization of the women. Furthermore, the study revealed the gender inequality linked with night hunting thus significantly increasing the vulnerability of rural women to other forms of violence in the society.Keywords: courtship, custom, men, night hunting, practice, sexual coercion, women, violence
Procedia PDF Downloads 2508992 Digital Transformation and Digitalization of Public Administration
Authors: Govind Kumar
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The concept of ‘e-governance’ that was brought about by the new wave of reforms, namely ‘LPG’ in the early 1990s, has been enabling governments across the globe to digitally transform themselves. Digital transformation is leading the governments with qualitative decisions, optimization in rational use of resources, facilitation of cost-benefit analyses, and elimination of redundancy and corruption with the help of ICT-based applications interface. ICT-based applications/technologies have enormous potential for impacting positive change in the social lives of the global citizenry. Supercomputers test and analyze millions of drug molecules for developing candidate vaccines to combat the global pandemic. Further, e-commerce portals help distribute and supply household items and medicines, while videoconferencing tools provide a visual interface between the clients and hosts. Besides, crop yields are being maximized with the help of drones and machine learning, whereas satellite data, artificial intelligence, and cloud computing help governments with the detection of illegal mining, tackling deforestation, and managing freshwater resources. Such e-applications have the potential to take governance an extra mile by achieving 5 Es (effective, efficient, easy, empower, and equity) of e-governance and six Rs (reduce, reuse, recycle, recover, redesign and remanufacture) of sustainable development. If such digital transformation gains traction within the government framework, it will replace the traditional administration with the digitalization of public administration. On the other hand, it has brought in a new set of challenges, like the digital divide, e-illiteracy, technological divide, etc., and problems like handling e-waste, technological obsolescence, cyber terrorism, e-fraud, hacking, phishing, etc. before the governments. Therefore, it would be essential to bring in a rightful mixture of technological and humanistic interventions for addressing the above issues. This is on account of the reason that technology lacks an emotional quotient, and the administration does not work like technology. Both are self-effacing unless a blend of technology and a humane face are brought in into the administration. The paper will empirically analyze the significance of the technological framework of digital transformation within the government set up for the digitalization of public administration on the basis of the synthesis of two case studies undertaken from two diverse fields of administration and present a future framework of the study.Keywords: digital transformation, electronic governance, public administration, knowledge framework
Procedia PDF Downloads 1048991 Scaling Up Psychosocial Wellbeing of Orphans and Vulnerable Learners in Rural Schools in Lesotho: An Ethnopsychology Approach
Authors: Fumane Portia Khanare
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This paper explores strategies to improve the psychosocial wellbeing of orphans and vulnerable learners (OVLs) in rural schools in Lesotho that seem essential for their success, in anticipation of, and in the context of global education. Various strategies to improve psychosocial wellbeing are considered necessary in that they are inclusive and buffer other forms of conditions beyond traditional and Eurocentric forms in orientation. Furthermore, they bring about the local experiences and particularly of the learners and schools in rural areas – all of which constitute ethnopsychology. COVID-19 pandemic has enthused the demands for collaboration and responsive support for learners within rural and many deprived contexts in Lesotho. However, the increase of OVLs in the education sector has also sparked the debate of how many rural schools with a lack of resources, inadequate teacher training, declining unemployment and the detriment of COVID-19 throughout Lesotho affected the psychosocial wellbeing of these learners. In some cases, the pandemic has created opportunities to explore existing, forgotten or ignored resources dated back to the pre-colonial era in Lesotho, and emphasizing to have an optimistic outlook on life as a result of collaboration and appreciating local knowledge. In order to scale up the psychosocial wellbeing of OVLs, there is a need to explore various strategies to improve their psychosocial wellbeing, in which all learners can succeed during the COVID-19 pandemic and beyond, thereby promoting the agency of young people from the rural areas towards building supportive learning environments. The paper draws on qualitative participatory arts-based study data generated by 30 learners in two rural secondary schools in Lesotho. Thematic analysis was employed to provide an in-depth understanding of learners' psychosocial needs and strategies to improve their psychosocial wellbeing. The paper is guided by ethnopsychology – a strength-based perspective, which posits that in the most difficult situations, individuals including, young people have strengths, can collaborate and find solutions that respond to their challenges. This was done by examining how various facets of their environments such as peers, teachers, schools’ environment, family and community played out in creating supportive strategies to improve the psychosocial wellbeing of OVLs which buffer the successful completion of their secondary school education. It is recommended that ethnopsychology should recognise and be used under the realm of positive wellbeing in rural schools in Lesotho.Keywords: arts-based research, ethnopsychology, Lesotho, orphans and vulnerable learners, psychosocial wellbeing, rural schools.
Procedia PDF Downloads 2138990 Scaling Up Psychosocial Wellbeing of Orphans and Vulnerable Learners in Rural Schools in Lesotho: An Ethnopsychology Approach
Authors: Fumane Portia Khanare
Abstract:
This paper explores strategies to improve the psychosocial wellbeing of orphans and vulnerable learners (OVLs) in rural schools in Lesotho that seem essential for their success, in anticipation of, and in the context of global education. Various strategies to improve the psychosocial wellbeing are considered necessary in that they are inclusive and buffer other forms of conditions beyond traditional and Eurocentric forms in orientation. Furthermore, they bring about the local experiences and particularly of the learners and schools in rural areas – all of which constitute ethnopsychology. COVID-19 pandemic has enthused the demands for collaboration and responsive support for learners within rural and many deprived contexts in Lesotho. However, the increase of OVLs in the education sector has also sparked the debate of how much rural schools with lack of resources, inadequate teacher training, declining unemployment and the detriment of COVID-19 throughout Lesotho affected the psychosocial wellbeing of these learners. In some cases, the pandemic has created opportunities to explore existing, forgotten or ignored resources dated back to pre-colonial era in Lesotho, and emphasizing to have an optimistic outlook on life as a result of collaboration and appreciating local knowledge. In order to scale up the psychosocial wellbeing of OVLs there is a need to explore various strategies to improve their psychosocial wellbeing, in which all learners can succeed during COVID-19 pandemic and beyond, thereby promoting agency of young people from the rural areas towards building supportive learning environments. The paper draws on a qualitative participatory arts-based study data generated by 30 learners in two rural secondary schools in Lesotho. Thematic analysis was employed to provide an in-depth understanding of learners' psychosocial needs and strategies to improve their psychosocial wellbeing. The paper is guided by ethnopsychology – a strength-based perspective, which posit that in the most difficult situations, individual including, young people have strengths, can collaborate and find solutions that respond to their challenges. This was done by examining how various facets of their environments such as peers, teachers, schools’ environment, family and community played out in creating supportive strategies to improve the psychosocial wellbeing of OVLs which buffer their successful completion of their secondary school education. It is recommended that ethnopsychology should recognised and be used under the realm of positive wellbeing in rural schools in Lesotho.Keywords: arts-based research, ethnopsychology, orphans and vulnerable learners, Lesotho, psychosocial wellbeing, rural schools
Procedia PDF Downloads 1618989 Understanding Chances and Challenges of Family Planning: Qualitative Study in Indonesia's Banyumas District
Authors: Utsamani Cintyamena, Sandra Frans Olivia, Shita Lisyadewi, Ariane Utomo
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Family planning is one of fundamental aspects in preventing maternal morbidity and mortality. However, the prevalence rate of Indonesia’s married women in choosing contraception is low. This study purpose to assess opportunities and challenges in family planning. Methodology: We conducted a qualitative study in Banyumas District which has huge reduction of maternal mortality rate from 2013 to 2015. Four focus group discussions and four small group discussions were conducted to assess knowledge and attitude of women in using contraceptive and their method of choice, as well as in-depth interview to four health workers and two family planning field officers as triangulation. Thematic content analysis was done manually. Results: Key themes emerge across interviews including (1) first choice of contraception is the one that they previously had, provided that they did not encountered problems with it, (2) rumor and fear of side effect affected their method of choice, (3) selection of contraceptive method was influenced by approval of husband, believes, and role model in community. Conclusion: Collaboration of health worker, family planning field officers, community, as well as support from stakeholder, must be increased to socializing family planning.Keywords: attitude, challenge, chance, family planning, knowledge
Procedia PDF Downloads 1548988 Improving Climate Awareness and the Knowledge Related to Climate Change's Health Impacts on Medical Schools
Authors: Abram Zoltan
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Over the past hundred years, human activities, particularly the burning of fossil fuels, have released enough carbon dioxide and other greenhouse gases to dissipate additional heat into the lower atmosphere and affect the global climate. Climate change affects many social and environmental determinants of health: clean air, safe drinking water, and adequate food. Our aim is to draw attention to the effects of climate change on the health and health care system. Improving climate awareness and the knowledge related to climate change's health impacts are essential among medical students and practicing medical doctors. Therefore, in their everyday practice, they also need some assistance and up-to-date knowledge of how climate change can endanger human health and deal with these novel health problems. Our activity, based on the cooperation of more universities, aims to develop new curriculum outlines and learning materials on climate change's health impacts for medical schools. Special attention is intended to pay to the possible preventative measures against these impacts. For all of this, the project plans to create new curriculum outlines and learning materials for medical students, elaborate methodological guidelines and create training materials for medical doctors' postgraduate learning programs. The target groups of the project are medical students, educational staff of medical schools and universities, practicing medical doctors with special attention to the general practitioners and family doctors. We had searched various surveys, domestic and international studies about the effects of climate change and statistical estimation of the possible consequences. The health effects of climate change can be measured only approximately by considering only a fraction of the potential health effects and assuming continued economic growth and health progress. We can estimate that climate change is expected to cause about 250,000 more deaths. We conclude that climate change is one of the most serious problems of the 21st century, affecting all populations. In the short- to medium-term, the health effects of climate change will be determined mainly by human vulnerability. In the longer term, the effects depend increasingly on the extent to which transformational action is taken now to reduce emissions. We can contribute to reducing environmental pollution by raising awareness and by educating the population.Keywords: climate change, health impacts, medical students, education
Procedia PDF Downloads 1318987 Comparing Two Interventions for Teaching Math to Pre-School Students with Autism
Authors: Hui Fang Huang Su, Jia Borror
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This study compared two interventions for teaching math to preschool-aged students with autism spectrum disorder (ASD). The first is considered the business as usual (BAU) intervention, which uses the Strategies for Teaching Based on Autism Research (STAR) curriculum and discrete trial teaching as the instructional methodology. The second is the Math is Not Difficult (Project MIND) activity-embedded, naturalistic intervention. These interventions were randomly assigned to four preschool students with ASD classrooms and implemented over three months for Project Mind. We used measurement gained during the same three months for the STAR intervention. In addition, we used A quasi-experimental, pre-test/post-test design to compare the effectiveness of these two interventions in building mathematical knowledge and skills. The pre-post measures include three standardized instruments: the Test of Early Math Ability-3, the Problem Solving and Calculation subtests of the Woodcock-Johnson Test of Achievement IV, and the Bracken Test of Basic Concepts-3 Receptive. The STAR curriculum-based assessment is administered to all Baudhuin students three times per year, and we used the results in this study. We anticipated that implementing these two approaches would improve the mathematical knowledge and skills of children with ASD. Still, it is crucial to see whether a behavioral or naturalistic teaching approach leads to more significant results.Keywords: early learning, autism, math for pre-schoolers, special education, teaching strategies
Procedia PDF Downloads 1698986 Interaction Between Task Complexity and Collaborative Learning on Virtual Patient Design: The Effects on Students’ Performance, Cognitive Load, and Task Time
Authors: Fatemeh Jannesarvatan, Ghazaal Parastooei, Jimmy frerejan, Saedeh Mokhtari, Peter Van Rosmalen
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Medical and dental education increasingly emphasizes the acquisition, integration, and coordination of complex knowledge, skills, and attitudes that can be applied in practical situations. Instructional design approaches have focused on using real-life tasks in order to facilitate complex learning in both real and simulated environments. The Four component instructional design (4C/ID) model has become a useful guideline for designing instructional materials that improve learning transfer, especially in health profession education. The objective of this study was to apply the 4C/ID model in the creation of virtual patients (VPs) that dental students can use to practice their clinical management and clinical reasoning skills. The study first explored the context and concept of complication factors and common errors for novices and how they can affect the design of a virtual patient program. The study then selected key dental information and considered the content needs of dental students. The design of virtual patients was based on the 4C/ID model's fundamental principles, which included: Designing learning tasks that reflect real patient scenarios and applying different levels of task complexity to challenge students to apply their knowledge and skills in different contexts. Creating varied learning materials that support students during the VP program and are closely integrated with the learning tasks and students' curricula. Cognitive feedback was provided at different levels of the program. Providing procedural information where students followed a step-by-step process from history taking to writing a comprehensive treatment plan. Four virtual patients were designed using the 4C/ID model's principles, and an experimental design was used to test the effectiveness of the principles in achieving the intended educational outcomes. The 4C/ID model provides an effective framework for designing engaging and successful virtual patients that support the transfer of knowledge and skills for dental students. However, there are some challenges and pitfalls that instructional designers should take into account when developing these educational tools.Keywords: 4C/ID model, virtual patients, education, dental, instructional design
Procedia PDF Downloads 858985 Aitys as the Kazakh Traditional Music Genre in the Sense of Cognitive Musicology
Authors: Indira Makhazhan, Azamat Taigarayev, Perizat Yerlan, Batyrbay Gulbike, Samal Abzhanova
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Aitys is a competitional performance of two or more poets creating instantly the lyrics of music concerning the social issues accompanied with the traditional instrument dombra. It is an unique music genre, because it is not practical to create music and lyrics spontaneous in anywhere else. This research study tends to approach to this particular music genre Aitys and identify its significance not only in the sense of the Kazakh cultural heritage, but also from the perspective of personal development as the improvisational , oratory, public performance skills within the ability to think critically over the social problems and represent them in convenient to public form. Through conducting this research, this paper aims to reveal the importance and beneficence of aitys in terms of both prevalence of cultural heritage and its function in personal development of the singer. In order to answer to the research question, we conducted a survey and an in-depth interview with the students of Nazarbayev University. In the survey it was asked to answer the general questions about aitys and its importance, whereas in the interview part, we asked their opinion on the importance of aitys in improving the personal skills. The results of findings was more surprising than it was expected. They agreed that the aitys lessons, workshops and concerts have high outcomes in terms improvements of improvisational, oratory, and leadership skills. Students of NU as a representors of young generation have shown a great interest in aitys, and even more interested in the topics/social issues, where the poets have to defend their usually controversial position. To conclude, the research study has focused on the importance of the aitys in personal development of different leadership skills. The given research lead us to think about the aitys as a part of cognitive musicology, where within the learning of music it represents the process of cognition as well.Keywords: aitys, cultural heritage, Kazakh language, musicology, personal development
Procedia PDF Downloads 3578984 Investigating the Effects of Managerial Competencies on Organizational Performance through the Mediating Role of Entrepreneurship and Social Capital
Authors: Nader Chavoshi Boroujeni, Naser Chavoshi Boroujeni
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Considering the importance of managerial competencies on organizational performance as well as the role of social capital and entrepreneurship as mediator parameters affecting organizational performance, this study attempts to examine the impact carefully. In this regard, Isfahan Science and Technology Town (ISTT) as an effective and knowledge generator company that has a great effect on improving organizational performances of many other companies such as Knowledge-Based Companies (KBCs) activing in the ISTT's site was selected as statistical population. According to coordination with the Department of Development and Technology of ISTT, all employees of ISTT and active KBCs were selected as sample. Then, to analyze the variables a standard and self-made questionnaire containing 98 questions was designed and distributed. Of the 350 questionnaires distributed, 319 questionnaires were collected that 313 cases were confirmed and analyzed. To confirm the reliability of questionnaire, the Leader professor and two other professors approved it. Cronbach's alpha coefficient was used to validate the questionnaire that all coefficient was between 0/7 and 0/95. So, the validity was confirmed. After descriptive study population, the normality of distribution was investigated with Kolmogorov-Smirnov test. Finally, the results obtained from the questionnaires were analyzed by Amos software that all hypotheses were confirmed.Keywords: managerial competencies, personnel organizational performance, entrepreneurship, social capital
Procedia PDF Downloads 2728983 The Role of Digital Technology in Crime Prevention: a Case Study of Cellular Forensics Unit, Capital City Police Peshawar-Pakistan
Authors: Muhammad Ashfaq
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Main theme: This prime focus of this study is on the role of digital technology in crime prevention, with special focus on Cellular Forensic Unit, Capital City Police Peshawar-Khyber Pakhtunkhwa-Pakistan. Objective(s) of the study: The prime objective of this study is to provide statistics, strategies and pattern of analysis used for crime prevention in Cellular Forensic Unit of Capital City Police Peshawar, Khyber Pakhtunkhwa-Pakistan. Research Method and Procedure: Qualitative method of research has been used in the study for obtaining secondary data from research wing and Information Technology (IT) section of Peshawar police. Content analysis was the method used for the conduction of the study. This study is delimited to Capital City Police and Cellular Forensic Unit Peshawar-KP, Pakistan. information technologies.Major finding(s): It is evident that the old traditional approach will never provide solutions for better management in controlling crimes. The best way to control crimes and promotion of proactive policing is to adopt new technologies. The study reveals that technology have transformed police more effective and vigilant as compared to traditional policing. The heinous crimes like abduction, missing of an individual, snatching, burglaries and blind murder cases are now traceable with the help of technology.Recommendation(s): From the analysis of the data, it is reflected that Information Technology (IT) expert should be recruited along with research analyst to timely assist and facilitate operational as well as investigation units of police .A mobile locator should be Provided to Cellular Forensic Unit to timely apprehend the criminals .Latest digital analysis software should be provided to equip the Cellular Forensic Unit.Keywords: crime-prevention, cellular-forensic unit-pakistan, crime prevention-digital-pakistan, crminology-pakistan
Procedia PDF Downloads 838982 Research Methodology and Mixed Methods (Qualitative and Quantitative) for Ph.D. Construction Management – Post-Disaster Reconstruction
Authors: Samuel Quashie
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Ph.D. Construction Management methodology and mixed methods are organized to guide the researcher to assemble and assess data in the research activities. Construction management research is close to business management and social science research. It also contributes to researching the phenomenon and answering the research question, generating an integrated management system for post-disaster reconstruction in construction and related industries. Research methodology and methods drive the research to achieve the goal or goals, contribute to knowledge, or increase knowledge. This statement means the research methodology, mixed methods, aim, objectives, and processes address the research question, facilitate its achievement and foundation to conduct the study. Mixed methods use project-based case studies, interviews, observations, literature and archival document reviews, research questionnaires, and surveys, and evaluation of integrated systems used in the construction industry and related industries to address the research work. The research mixed methods (qualitative, quantitative) define the research topic and establish a more in-depth study. The research methodology is action research, which involves the collaboration of participants and service users to collect and evaluate data, studying the phenomenon, research question(s) to improve the situation in post-disaster reconstruction phase management.Keywords: methodology, Ph.D. research, post-disaster reconstruction, mixed-methods qualitative and quantitative
Procedia PDF Downloads 2358981 The Meaningful Pixel and Texture: Exploring Digital Vision and Art Practice Based on Chinese Cosmotechnics
Authors: Xingdu Wang, Charlie Gere, Emma Rose, Yuxuan Zhao
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The study introduces a fresh perspective on the digital realm through an examination of the Chinese concept of Xiang, elucidating how it can build an understanding of pixels and textures on screens as digital trigrams. This concept attempts to offer an outlook on the intersection of digital technology and the natural world, thereby contributing to discussions about the harmonious relationship between humans and technology. The study looks for the ancient Chinese theory of Xiang as a key to establishing the theories and practices to respond to the problem of Contemporary Chinese technics. Xiang is a Chinese method of understanding the essentials of things through appearances, which differs from the method of science in the Westen. Xiang, the basement of Chinese visual art, is rooted in ancient Chinese philosophy and connected to the eight trigrams. The discussion of Xiang connects art, philosophy, and technology. This paper connects the meaning of Xiang with the 'truth appearing' philosophically through the analysis of the concepts of phenomenon and noumenon and the unique Chinese way of observing. Hereafter, the historical interconnection between ancient painting and writing in China emphasizes their relationship between technical craftsmanship and artistic expression. In digital, the paper blurs the traditional boundaries between images and text on digital screens in theory. Lastly, this study identified an ensemble concept relating to pixels and textures in computer vision, drawing inspiration from AI image recognition in Chinese paintings. In art practice, by presenting a fluid visual experience in the form of pixels, which mimics the flow of lines in traditional calligraphy and painting, it is hoped that the viewer will be brought back to the process of the truth appearing as defined by the 'Xiang’.Keywords: Chinese cosmotechnics, computer vision, contemporary Neo-Confucianism, texture and pixel, Xiang
Procedia PDF Downloads 698980 The Properties of Risk-based Approaches to Asset Allocation Using Combined Metrics of Portfolio Volatility and Kurtosis: Theoretical and Empirical Analysis
Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia
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Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation
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