Search results for: financial regulation

Authors: Yanuar Tri Wahyu Saputra, Ramadhani Pamapta Putra

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Karimunjawa is one among Indonesian islands which is lacking of electricity supply. Despite condition above, Karimunjawa is an important tourism object in Indonesia's Central Java Province. Solar Power Plant is a potential technology to be applied in Karimunjawa, in order to fulfill the island's electrical supply need and to increase daily life and tourism quality among tourists and local population. This optimation modeling of Karimunjawa uses HOMER software program. The data we uses include wind speed data in Karimunjawa from BMKG (Indonesian Agency for Meteorology, Climatology and Geophysics), annual weather data in Karimunjawa from NASA, electricity requirements assumption data based on number of houses and business infrastructures in Karimunjawa. This modeling aims to choose which three system categories offer the highest financial profit with the lowest total Net Present Cost (NPC). The first category uses only PV with 8000 kW of electrical power and NPC value of $6.830.701. The second category uses hybrid system which involves both 1000 kW PV and 100 kW generator which results in total NPC of $6.865.590. The last category uses only generator with 750 kW of electrical power that results in total NPC of $ 16.368.197, the highest total NPC among the three categories. Based on the analysis above, we can conclude that the most optimal way to fulfill the electricity needs in Karimunjawa is to use 8000 kW PV with lower maintenance cost.

Keywords: Karimunjawa, renewable energy, solar power plant, HOMER

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Authors: Arnold Sanda Layuk

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Fraud in the disclosure of financial statements by management shows that agency conflict is an important issue in the company. The conflict has consequences for the agency costs that must be borne and has an impact on the firm's performance. The effect of agency costs on firm performance is investigated in this study, as well as whether several variables such as corporate governance mechanisms can positively moderate the agency cost and firm performance relationship. The agency cost is measured by the asset utilization ratio and discretionary expenditure ratio. The firm's performance is represented by the return on equity. Data was collected from the manufacturing companies listed on the Indonesia Stock Exchange from 2015 to 2019, then regressed on the panel data using the panel corrected standard error model (PCSE). According to the findings, agency costs are negatively related to firm performance, which supports previous empirical research findings. It also found that the agency cost and firm performance relationship is significantly moderated by board size and ownership concentration as the representatives of corporate governance mechanisms. It suggests that corporate governance can become tools to reduce agency costs and increase firm performance as well. The empirical evidence adds to previous research on agency conflict, particularly in emerging markets. These findings are expected to supplement previous research and provide additional information to shareholders in order to control opportunistic management decisions that affect their investments and discretionary operational expenses.

Keywords: agency cost, corporate governance, asset utilization ratio, firm performance

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Authors: Ipek Krom, Nurdan Tumbek Tekeoglu

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In our globalizing world increased competition between cities have resulted in expanding investments in marketing activities. In order to promote tourism and reinvestments, the cities have been using marketing activities to create more attractive sites and make use of their resources more efficiently. In becoming a branded city marketing activities play a major role in building brand value, which in turn results in the attraction of newcomers, revisits, settlements, reinvestments and the development of the city. This paper focuses on the Istanbul brand, which carries an important role in the promotion of Turkey as being its cultural, economic and financial center. As one of the most historical and appealing metropolitans in the world with remains of ancient civilizations, Istanbul has attracted 11 million 843 thousand tourists in 2014. Increasing number of marketing activities developed by numerous actors of private and public sector are among the reasons why tourists prefer Istanbul. Among these reasons we can list the increasing number of hotels, developed infrastructure and better transportation, modern shopping malls, international festivals, exportation of Turkish TV series, gastronomy investments, congress tourism, health tourism, student exchange programs, expatriation opportunities, recreational activities and new tourism destinations. In this paper we explore the marketing activities in Istanbul in order to make the city of the most visited metropolitans in the world. Decision making people in the tourism sector have been interviewed to provide better insight to the addressed topics.

Keywords: brand cities, marketing, tourism in istanbul, tourism marketing

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Authors: Anny Lucrece Nlend Nkott, Ludovic Temple

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The appearance in 2012 of the CRISPR-CaS9 genome editing technique marks a turning point in the field of genetics. This technique would make it possible to create new varieties quickly and cheaply. Although some consider CRISPR-CaS9 to be revolutionary, others consider it a potential societal threat. To document the controversy, we explain the socioeconomic conditions under which this technique could be accepted for the creation of a rainfed rice variety in Madagascar. The methodological framework is based on 38 individual and semistructured interviews, a multistakeholder forum with 27 participants, and a survey of 148 rice producers. Results reveal that the acceptability of genome editing requires (i) strengthening the seed system through the operationalization of regulatory structures and the upgrading of stakeholders' knowledge of genetically modified organisms, (ii) assessing the effects of the edited variety on biodiversity and soil nitrogen dynamics, and (iii) strengthening the technical and human capacities of the biosafety body. Structural mechanisms for regulating the seed system are necessary to ensure safe experimentation of genome editing techniques. Organizational innovation also appears to be necessary. The study documents how collective learning between communities of scientists and nonscientists is a component of systemic processes of varietal innovation. This study was carried out with the financial support of the GENERICE project (Generation and Deployment of Genome-Edited, Nitrogen-use-Efficient Rice Varieties), funded by the Agropolis Foundation.

Keywords: CRISPR-CaS9, varietal innovation, seed system, innovation system

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Authors: Josiane Yaguibou, Ngoy Kishimba, Issiaka v. Coulibaly, Sabrina Pestilli, Falinirina Razanalison, Hantanirina Andremanisa

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Background: In recent years, Madagascar has faced a significant reduction in donors’ financial resources for the purchase of contraceptive products to meet the family planning needs of the population. In order to ensure the sustainability of the family planning program in the current context, UNFPA Madagascar engaged in a series of initiatives with the ultimate scope of identifying sustainable financing mechanisms for the program. Program intervention: UNFPA Madagascar established a strict collaboration with USAID to engage in a series of joint advocacy and resource mobilization activities with the government. The following initiatives were conducted: (i) Organization of a high-level Round Table to engage the government; (ii) Support to the government in renewing the FP2030 Commitments; (iii) Signature of the Country Compact 2022-2024; (iv) Allocation of government funds in 2022 and 2023 of over 829,222 USD; (v) Obtaining a Matching Fund of 1.5 million USD from UNFPA to encourage the government to allocate resources for the purchase of contraceptive products. Program Implications: The collaboration and the joint advocacy made it possible to (i) have budgetary allocations from the government to purchase products in 2022 and 2023 with a significant reduction in financing gaps; (ii) to convince the government to seek additional financing from partners such as the World Bank which granted more than 8 million USD for the purchase of products; (iii) reduce stock shortages from more than 30% to 15%.

Keywords: UNFPA, USAID, collaboration, contraceptives

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Authors: Belal Mohamadi Kalesar, Raouf Hasanpour

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Proper placement of Distributed Generation (DG) units such as wind turbine generators in distribution system are still very challenging issue for obtaining their maximum potential benefits because inappropriate placement may increase the system losses. This paper proposes Particle Swarm Optimization (PSO) technique for optimal placement of wind based DG (WDG) in the primary distribution system to reduce energy losses and voltage profile improvement with four different wind levels modeling in year duration. Also, wind turbine is modeled as a DFIG that will be operated at unity power factor and only one wind turbine tower will be considered to install at each bus of network. Finally, proposed method will be implemented on widely used 69 bus power distribution system in MATLAB software environment under four scenario (without, one, two and three WDG units) and for capability test of implemented program it is supposed that all buses of standard system can be candidate for WDG installing (large search space), though this program can consider predetermined number of candidate location in WDG placement to model financial limitation of project. Obtained results illustrate that wind speed increasing in some months will increase output power generated but this can increase / decrease power loss in some wind level, also results show that it is required about 3MW WDG capacity to install in different buses but when this is distributed in overall network (more number of WDG) it can cause better solution from point of view of power loss and voltage profile.

Keywords: wind turbine, DG placement, wind levels effect, PSO algorithm

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Authors: Zayed Freah Zeadat

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The wellbeing of urban dwellers is strongly associated with the quality and quantity of green infrastructure. Nevertheless, urban green infrastructure is still lagging in many Arab cities, and Jordan is no exception. The capital city of Jordan, Amman, is becoming more urban dense with limited green spaces. The unplanned urban growth in Amman has caused several environmental problems such as urban heat islands, air pollution, and lack of green spaces. This study aims to investigate the most suitable drivers to leverage the implementation of urban green infrastructure in Jordan through qualitative and quantitative analysis. The qualitative research includes an extensive literature review to discuss the most common drivers used internationally to promote urban green infrastructure implementation in the literature. The quantitative study employs a questionnaire survey to rank the suitability of each driver. Consultants, contractors, and policymakers were invited to fill the research questionnaire according to their judgments and opinions. Relative Importance Index has been used to calculate the weighted average of all drivers and the Kruskal-Wallis test to check the degree of agreement among groups. This study finds that research participants agreed that indirect financial incentives (i.e., tax reductions, reduction in stormwater utility fee, reduction of interest rate, density bonus, etc.) are the most effective incentive policy whilst granting sustainability certificate policy is the least effective driver to ensure widespread of UGI is elements in Jordan.

Keywords: urban green infrastructure, relative importance index, sustainable urban development, urban Jordan

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Authors: Vincenzo Russo, Rosella Giacometti

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The paper aims to assess the insurance industry's resilience under Solvency II against adverse scenarios. Starting from the economic balance sheet available under Solvency II for insurance and reinsurance undertakings, we assume that assets and liabilities follow a bivariate geometric Brownian motion (GBM). Then, using the results available under Margrabe's formula, we establish an analytical solution to calibrate the volatility of the asset-liability ratio. In such a way, we can estimate the probability of default and the probability of breaching the undertaking's Solvency Capital Requirement (SCR). Furthermore, since estimating the volatility of the Solvency Ratio became crucial for insurers in light of the financial crises featured in the last decades, we introduce a novel measure that we call Resiliency Ratio. The Resiliency Ratio can be used, in addition to the Solvency Ratio, to evaluate the insurance industry's resilience in case of adverse scenarios. Finally, we introduce a simplified stress test tool to evaluate the economic balance sheet under stressed conditions. The model we propose is featured by analytical tractability and fast calibration procedure where only the disclosed data available under the Solvency II public reporting are needed for the calibration. Using the data published regularly by the European Insurance and Occupational Pensions Authority (EIOPA) in an aggregated form by country, an empirical analysis has been performed to calibrate the model and provide the related results at the country level.

Keywords: Solvency II, solvency ratio, volatility of the asset-liability ratio, probability of default, probability to breach the SCR, resilience ratio, stress test

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Authors: Donatien Niragira

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The progress of technology creates new expectations for patients. The world of deafness is no exception. In recent years, there have been considerable advances in the field of technologies aimed at assisting failing hearing. According to the usual medical vocabulary, hearing aids are actually orthotics. They do not replace an organ but compensate for a functional impairment. The Amplifier Hearing amplification is useful for a large number of people with hearing loss. Hearing aids restore speech audibility. However, their benefits vary depending on the quality of residual hearing. The hearing aid is not a "cure" for deafness. It cannot correct all affected hearing abilities. It should be considered as an aid to communication. The urge to judge from the audiogram alone should be resisted here, as audiometry only indicates the ability to detect non-verbal sounds. To prevent hearing aids from ending up in the drawer, it is important to ensure that the patient's disability situations justify the use of this type of orthosis. If the problems of receptive Pre-fitting counseling are crucial: the person with hearing loss must be informed of the advantages and disadvantages of amplification in his or her case. Their expectations must be realistic. They also need to be aware that the adaptation process requires a good deal of patience and perseverance. They should be informed about the various models and types of hearing aids, including all the aesthetic, functional and financial considerations. If the person's motivation "survives" pre-fitting counseling, we are in the presence of a good candidate for amplification. In addition to its relevance, it shows that the results found in this study significantly improve the quality of audibility in the patient, from where this technology must be made accessible everywhere in the world.

Keywords: auditives protheses, hearing, aids, no medicaly treatable deafnes

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Authors: Marco Soto-Arriaza, Eduardo Cena-Ahumada, Jaime Melendez-Rojel

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Background: Liposomes have been widely used as a model of lipid bilayer to study the physicochemical properties of biological membrane, encapsulation, transport and release of different molecules. Furthermore, extensive research has focused on improving the efficiency in the transport of drugs, developing tools that improve the release of the encapsulated drug from liposomes. In this context, the enzymatic activity of PLA₂, despite having been shown to be an effective tool to promote the release of drugs from liposomes, is still an open field of research. Aim: The aim of the present study is to explore the effect of cholesterol (Cho) and amphipathic di- and tri-block copolymers, on calcein release mediated by enzymatic activity of PLA2 in Dipalmitoylphosphatidylcholine (DPPC) liposomes under physiological conditions. Methods: Different dispersions of DPPC, cholesterol, di-block POE₄₅-PCL₅₂ or tri-block PCL₁₂-POE₄₅-PCL₁₂ were prepared by the extrusion method after five freezing/thawing cycles; in Phosphate buffer 10mM pH 7.4 in presence of calcein. DPPC liposomes/Calcein were centrifuged at 15000rpm 10 min to separate free calcein. Enzymatic activity assays of PLA₂ were performed at 37°C using the TBS buffer pH 7.4. The size distribution, polydispersity, Z-potential and Calcein encapsulation of DPPC liposomes was monitored. Results: PLA₂ activity showed a slower kinetic of calcein release up to 20 mol% of cholesterol, evidencing a minimum at 10 mol% and then a maximum at 18 mol%. Regardless of the percentage of cholesterol, up to 18 mol% a one-hundred percentage release of calcein was observed. At higher cholesterol concentrations, PLA₂ showed to be inefficient or not to be involved in calcein release. In assays where copolymers were added in a concentration lower than their cmc, a similar behavior to those showed in the presence of Cho was observed, that is a slower kinetic in calcein release. In both experimental approaches, a one-hundred percentage of calcein release was observed. PLA₂ was shown to be sensitive to the 4-(4-Octadecylphenyl)-4-oxobutenoic acid inhibitor and calcium, reducing the release of calcein to 0%. Cell viability of HeLa cells decreased 7% in the presence of DPPC liposomes after 3 hours of incubation and 17% and 23% at 5 and 15 hours, respectively. Conclusion: Calcein release from DPPC liposomes, mediated by PLA₂ activity, depends on the percentage of cholesterol and the presence of copolymers. Both, cholesterol up to 20 mol% and copolymers below it cmc could be applied to the regulation of the kinetics of antitumoral drugs release without inducing cell toxicity per se.

Keywords: amphipathic copolymers, calcein release, cholesterol, DPPC liposome, phospholipase A₂

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Authors: Osama Elgadi, Martin Birkett, Wai Ming Cheung

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This paper investigates the barriers behind the underutilisation of six sigma in Libyan manufacturing companies (LMCs). A mixed-method methodology is proposed, starting by conducting interviews to collect qualitative data followed by the development of a questionnaire to obtain quantitative data. The focus of this paper is on discussing the findings of the interview stage and how these can be used to further develop the questionnaire stage. The interview results showed that only four key barriers were highlighted as being encountered by LMCs. With a difference in terms of their significance, these factors were identified, and placed in descending order according to their importance, namely: “Lack of top management commitment”, “Lack of training”, “Lack of knowledge about six sigma”, and “Culture effect”. The findings also showed that some barriers which, were found in previous studies of six sigma implementation were not considered as barriers to LMCs but can, in fact, be considered as success factors or enablers for six sigma adoption. These factors were identified as: “sufficiency of time and financial resources”; “customers unsatisfied”; “good communication between all departments in the company”; “we are certain about its results and benefits to our company and unhappy with the current quality system”. These results suggest that LMCs face fewer barriers to adopting six sigma than many well-established global companies operating in other countries and could take advantage of these successful factors by developing and implementing a six sigma framework to improve their product quality and competitiveness.

Keywords: six sigma, barriers, Libyan manufacturing companies, interview

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Authors: Tan Xin Zhong Timothy, Chang Chen Jie Victor, Yew Kwan Tong, Lim Geok Peng Sandy

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Background: Leaders in crisis response teams such as Trauma Teams in hospitals are essential to the effective coordination and direction of the team. The response to emergency trauma situations must be accurate, rapid, and well executed. To this end, the team leader’s social, technical and leadership skills are essential factors that implicate the success of an emergency trauma intervention. While each emergency trauma case varies in severity and complexity, and the experience and expertise of team leaders may vary, it would be productive to identify certain coordinative and directive functions that improve the capacity for leading a team. Methods: This qualitative study of Trauma Team physicians in Singapore General Hospital (SGH) involved 50 in-depth interviews with doctors and nurses involved in Trauma Team activations, observations of Trauma Teams managing emergency patients, and reviews of audio/video recordings of 65 trauma activations. The interviews were conducted with doctors of various ranks across the relevant departments, 12 from the Emergency Department (ED), 11 from General Surgery (GS) and 8 from Orthopaedics, while the 6 nurses were from ED. In accordance with the grounded theory approach, the content of the interviews was coded and analysed in order to derive broad leadership themes that corresponded with certain behavioural traits exhibited by trauma team leaders, supplemented with the observational and audio/video data. Results: The leadership behaviours of the team leaders could be typified into three broad categories: team orientation, engagement and activeness. Team orientation corresponds with the source and form of cognitive responsibility, decision-making and informational contributions, divisible into individualistic and consultative sub-categories. Engagement refers to the type of activity that leaders prefer to engage in, and which implicates their attentional focus, divisible into participatory and supervisory sub-categories. Activeness is a function of the leader’s attitudes towards the behavioural regulation of the team, which manifests in inactivity or activity to augment or merely align with protocol. These factors are not exhaustive and are contextually sensitive, but collectively implicate a significant portion of the leadership activity observed in trauma teams.

Keywords: trauma team activations, critical event management, leadership, teamwork

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Authors: Puti F. Marzuki, Adrianto Oktavianus, Almerinda Regina

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Interface problems among interacting parties in Indonesian construction projects have most often led to low productivity and completion delay. In the midst of this country’s needs to accelerate construction of public infrastructure providing connectivity among regions and supporting economic growth as well as better living quality, project delays have to be seriously addressed. This paper identifies potential causes factors of interface problems experienced by construction projects in Indonesia. Data are collected through a survey involving the main actors of six important public infrastructure construction projects including railway, LRT, sports stadiums, apartment, and education building construction projects. Five of these projects adopt the design-build project delivery method and one applies the design-bid-build scheme. Interface problems’ potential causes are categorized into contract, management, technical experience, coordination, financial, and environmental factors. Research results reveal that, especially in railway and LRT projects, potential causes of interface problems are mainly technical and managerial in nature. These relate to complex construction execution in highly congested areas. Meanwhile, coordination cause factors are mainly found in the education building construction project with loan from a foreign donor. All of the six projects have to resolve interface problems caused by incomplete or low-quality contract documents. This research also shows that the design-bid-build delivery method involving more parties in construction projects tends to induce more interface problem cause factors than the design-build scheme.

Keywords: cause factors, construction delays, project delivery method, contract documents

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Authors: Sandra Cecilia Bautista-Rodríguez, Vladimir Melgarejo

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Climate change, loss of ecosystems, increasing poverty, increasing marginalization of rural communities and declining food security are global issues that require urgent attention. In this regard, a great deal of research has focused on how agroecosystems respond to these challenges as they provide ecosystem services (ES) that lead to higher levels of resilience, adaptation, productivity and self-sufficiency. Hence, the valuing of ecosystem services plays an important role in the decision-making process for the design and management of agroecosystems. This paper aims to define the link between ecosystem service valuation methods and ES value dimensions in agroecosystems from ecological economics and agroecology. The method used to identify valuation methodologies was a literature review in the fields of Agroecology and Ecological Economics, based on a strategy of information search and classification. The conceptual framework of the work is based on the multidimensionality of value, considering the social, ecological, political, technological and economic dimensions. Likewise, the valuation process requires consideration of the ecosystem function associated with ES, such as regulation, habitat, production and information functions. In this way, valuation methods for ES in agroecosystems can integrate more than one value dimension and at least one ecosystem function. The results allow correlating the ecosystem functions with the ecosystem services valued, and the specific tools or models used, the dimensions and valuation methods. The main methodologies identified are multi-criteria valuation (1), deliberative - consultative valuation (2), valuation based on system dynamics modeling (3), valuation through energy or biophysical balances (4), valuation through fuzzy logic modeling (5), valuation based on agent-based modeling (6). Amongst the main conclusions, it is highlighted that the system dynamics modeling approach has a high potential for development in valuation processes, due to its ability to integrate other methods, especially multi-criteria valuation and energy and biophysical balances, to describe through causal cycles the interrelationships between ecosystem services, the dimensions of value in agroecosystems, thus showing the relationships between the value of ecosystem services and the welfare of communities. As for methodological challenges, it is relevant to achieve the integration of tools and models provided by different methods, to incorporate the characteristics of a complex system such as the agroecosystem, which allows reducing the limitations in the processes of valuation of ES.

Keywords: ecological economics, agroecosystems, ecosystem services, valuation of ecosystem services

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Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic

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Authors: Sriram Kashyap Prasad, Ionut Florescu

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This study models the intraday asset prices as driven by Markov process. This work identifies the latent states of the Hidden Markov model, using limit order book data (trades and quotes) to continuously estimate the states throughout the day. This work builds a trading strategy using estimated states to generate signals. The strategy utilizes current state to recalibrate buy/ sell levels and the transition between states to trigger stop-loss when adverse price movements occur. The proposed trading strategy is tested on the Stevens High Frequency Trading (SHIFT) platform. SHIFT is a highly realistic market simulator with functionalities for creating an artificial market simulation by deploying agents, trading strategies, distributing initial wealth, etc. In the implementation several assets on the NASDAQ exchange are used for testing. In comparison to a strategy with static buy/ sell levels, this study shows that the number of limit orders that get matched and executed can be increased. Executing limit orders earns rebates on NASDAQ. The system can capture jumps in the limit order book prices, provide dynamic buy/sell levels and trigger stop loss signals to improve the PnL (Profit and Loss) performance of the strategy.

Keywords: algorithmic trading, Hidden Markov model, high frequency trading, limit order book learning

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Authors: Genevieve Lim, Arthur Shelley, Dongcheol Heo

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Abstract—Mobile technologies can enhance the learning process as it enables social engagement around concepts beyond the classroom and the curriculum. Early results in this ongoing research is showing that when learning interventions are designed specifically to generate new insights, mobile devices support regulated learning and encourage learners to collaborate, socialize and co-create new knowledge. As students navigate across the space and time boundaries, the fundamental social nature of learning transforms into mobile computer supported collaborative learning (mCSCL). The metacognitive interaction in mCSCL via mobile applications reflects the regulation of learning among the students. These metacognitive experiences whether self-, co- or shared-regulated are significant to the learning outcomes. Despite some insightful empirical studies, there has not yet been significant research that investigates the actual practice and processes of the new knowledge co-creation. This leads to question as to whether mobile learning provides a new channel to leverage learning? Alternatively, does mobile interaction create new types of learning experiences and how do these experiences co-create new knowledge. The purpose of this research is to explore these questions and seek evidence to support one or the other. This paper addresses these questions from the students’ perspective to understand how students interact when constructing knowledge in mCSCL and how students’ self-regulated learning (SRL) strategies support the co-creation of new knowledge in mCSCL. A pilot study has been conducted among international undergraduates to understand students’ perspective of mobile learning and concurrently develops a definition in an appropriate context. Using classroom action research (CAR) with multiple case studies, this study is being carried out in a private university in Thailand to narrow the research gaps in mCSCL and SRL. The findings will allow teachers to see the importance of social interaction for meaningful student engagement and envisage learning outcomes from a knowledge management perspective and what role mobile devices can play in these. The findings will signify important indicators for academics to rethink what is to be learned and how it should be learned. Ultimately, the study will bring new light into the co-creation of new knowledge in a social interactive learning environment and challenges teachers to embrace the 21st century of learning with mobile technologies to deepen and extend learning opportunities.

Keywords: mobile computer supported collaborative learning, mobile instant messaging, mobile learning, new knowledge co-creation, self-regulated learning

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Authors: Po-Fang Hsu, Chiching Wei

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In this paper, we present a novel neural graph matching approach applied to document comparison. Document comparison is a common task in the legal and financial industries. In some cases, the most important differences may be the addition or omission of words, sentences, clauses, or paragraphs. However, it is a challenging task without recording or tracing the whole edited process. Under many temporal uncertainties, we explore the potentiality of our approach to proximate the accurate comparison to make sure which element blocks have a relation of edition with others. In the beginning, we apply a document layout analysis that combines traditional and modern technics to segment layouts in blocks of various types appropriately. Then we transform this issue into a problem of layout graph matching with textual awareness. Regarding graph matching, it is a long-studied problem with a broad range of applications. However, different from previous works focusing on visual images or structural layout, we also bring textual features into our model for adapting this domain. Specifically, based on the electronic document, we introduce an encoder to deal with the visual presentation decoding from PDF. Additionally, because the modifications can cause the inconsistency of document layout analysis between modified documents and the blocks can be merged and split, Sinkhorn divergence is adopted in our neural graph approach, which tries to overcome both these issues with many-to-many block matching. We demonstrate this on two categories of layouts, as follows., legal agreement and scientific articles, collected from our real-case datasets.

Keywords: document comparison, graph matching, graph neural network, modification similarity, multi-modal

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Authors: Irsanti Hasyim, Christian Wibisono, Angela Teressia

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Social enterprises, as one of the way of doing business are on the rise and emerging from the innovations of decades of social initiatives. In simple way, social enterprises use the business platform to achieve social and/or environmental objectives whilst simultaneously seeking a financial return. In Indonesia, the number of social enterprises rapidly grows and most of them were using social media as their business platform. Social Media are perceived as tools for creating online communities of users who share interests, activities, and objectives. Many companies view the use of online communities in social media as a profitable marketing tool from which they can derive several benefits. Through social media, consumers share experiences with and suggest ideas to others while developing new relationships within their communities. Therefore, this study intends to identify the benefits that participants in online communities seek and examine the relationships between members’ levels of participation, brand trust, and brand commitment. Using convenience sampling method, 236 fully answered questioner was collected and used as a sample of this research. The sample of this research consisted of member or follower in several social media from selected social enterprise in Indonesia. Data collected in this research were process by using Partial Least Square and came up with the result that functional benefit and monetary benefit, are only two from five benefits that proposed were the only variable that has significant result even though from APC, ARS and AARS outcomes show that the model can be claimed to be significant.

Keywords: brand trust, brand commitment, social enterprise, social media

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Authors: Felib Ayman Shawky Salem

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Nowadays crypto currency has become a global phenomenon known to most people. People using this alternative digital money to do a transaction in many ways (e.g. Used for online shopping, wealth management, and fundraising). However, this digital asset also widely used in criminal activities since its use decentralized control as opposed to centralized electronic money and central banking systems and this makes a user, who used this currency invisible. The high-value exchange of these digital currencies also has been a target to criminal activities. The crypto currency crimes have become a challenge for the law enforcement to analyze and to proof the evidence as criminal devices. In this paper, our focus is more on bitcoin crypto currency and the possible artifacts that can be obtained from the different type of digital wallet, which is software and browser-based application. The process memory and physical hard disk are examined with the aims of identifying and recovering potential digital evidence. The stage of data acquisition divided by three states which are the initial creation of the wallet, transaction that consists transfer and receiving a coin and the last state is after the wallet is being deleted. Findings from this study suggest that both data from software and browser type of wallet process memory is a valuable source of evidence, and many of the artifacts found in process memory are also available from the application and wallet files on the client computer storage.

Keywords: cryptocurrency, bitcoin, payment methods, blockchain, appropriation, online retailers, TOE framework, disappropriation, non-appropriationBitCoin, financial protection, crypto currency, money laundering cryptocurrency, digital wallet, digital forensics

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Authors: Saira Mehnaz, Ali Jafar Abedi, Shazia Farooq Fazli, Sakeena Mushfiq, Zulfia Khan, M. Athar Ansari

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Introduction: Public health spending is a necessity in an underdeveloped country like India. The people are already suffering from poverty and that clubbed with out of pocket expenditure leads them to a very catastrophic situation, reducing the overall access to healthcare. Objectives: This study was designed to determine the usual source of medical care opted, the illness pattern, the expenditure incurred on illness and its source of procurement by the study population. It also intended to assess this expenditure as a determinant of access to health care. Methodology: Cities like Aligarh, which are classified as B grade cities in India are thought to be ripe sites for getting livelihood and hence are almost half filled with migrants living in urban slums. A cross sectional study was done to study the newer slum pockets. 3409 households with a population of 16,978 were studied with the help of pretested questionnaire; SPSS 20 was used for statistical analysis. Results and Conclusions: In our study, we found that almost all the households suffered from catastrophic health expenditure. The study population, which was already vulnerable owing to their low socio-economic and migrant status was further being forced with into poverty and indebtedness on account of expenditure on illness. This lead to a significant decrease in access to health. National health financing systems should be designed to protect households from financial catastrophe, by reducing out-of-pocket spending.

Keywords: access to healthcare, catastrophic health expenditure, new urban slums, out of pocket expenditure

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Authors: S. A. N. Danushka, T. A. Weerasinghe

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The diverse necessities of instruction could be addressed effectively with the support of new dimensions of ICT integrated learning such as blended learning –which is a combination of face-to-face and online instruction which ensures greater flexibility in student learning and congruity of course delivery. As blended learning has been the ‘new normality' in education, many experimental and quasi-experimental research studies provide ample of evidence on its successful implementation in many fields of studies, but it is hard to justify whether blended learning could work similarly in the delivery of technology-teacher development programmes (TTDPs). The present study is bound with the particular research uncertainty, and having considered existing research approaches, the study methodology was set to decide the efficient instructional strategies for flipped classroom learning in TTDPs. In a quasi-experimental pre-test and post-test design with a mix-method research approach, the major study objective was tested with two heterogeneous samples (N=135) identified in a virtual learning environment in a Sri Lankan university. Non-randomized informal ‘before-and-after without control group’ design was employed, and two data collection methods, identical pre-test and post-test and Likert-scale questionnaires were used in the study. Selected two instructional strategies, self-directed learning (SDL) and self-regulated learning (SRL), were tested in an appropriate instructional framework with two heterogeneous samples (pre-service and in-service teachers). Data were statistically analyzed, and an efficient instructional strategy was decided via t-test, ANOVA, ANCOVA. The effectiveness of the two instructional strategy implementation models was decided via multiple linear regression analysis. ANOVA (p < 0.05) shows that age, prior-educational qualifications, gender, and work-experiences do not impact on learning achievements of the two diverse groups of learners through the instructional strategy is changed. ANCOVA (p < 0.05) analysis shows that SDL is efficient for two diverse groups of technology-teachers than SRL. Multiple linear regression (p < 0.05) analysis shows that the staged self-directed learning (SSDL) model and four-phased model of motivated self-regulated learning (COPES Model) are efficient in the delivery of course content in flipped classroom learning.

Keywords: COPES model, flipped classroom learning, self-directed learning, self-regulated learning, SSDL model

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Authors: Kalidas Sarma

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Fraud is a social problem changing with social change and it has a regional and global impact. Introduction of private domain in higher education along with public institutions has led to commercialization of higher education which encourages unprecedented mushrooming of private institutions resulting in fraudulent activities in higher educational institutions in Assam, India. Presently, fraud has been noticed in in-service promotion, fake entry qualification by teachers in different levels of work-place by using fake master degrees, master of philosophy and doctor of philosophy degree certificates. The aim and objective of the study are to identify grey areas in maintenance of quality in higher educational institutions in Assam and also to draw the contour for planning and implementation. This study is based on both primary and secondary data collected through questionnaire and seeking information through Right to Information Act 2005. In Assam, there are 301 undergraduate and graduate colleges distributed in 27 (Twenty seven) administrative districts with 11000 (Eleven thousand) college teachers. Total 421 (Four hundred twenty one) college teachers from the 14 respondent colleges have been taken for analysis. Data collected has been analyzed by using 'Hypertext Pre-processor' (PhP) application with My Sequel Structure Query Language (MySQL) and Google Map Application Programming Interface (APIs). Graph has been generated by using open source tool Chart.js. Spatial distribution maps have been generated with the help of geo-references of the colleges. The result shows: (i) the violation of University Grants Commission's (UGCs) Regulation for the awards of M. Phil/Ph.D. clearly exhibits. (ii) There is a gap between apex regulatory bodies of higher education at national and as well as state level to check fraud. (iii) Mala fide 'No Objection Certificate' (NOC) issued by the Government of Assam have played pivotal role in the occurrence of fraudulent practices in higher educational institutions of Assam. (iv) Violation of verdict of the Hon'ble Supreme Court of India regarding territorial jurisdiction of Universities for the awards of Ph.D. and M. Phil degrees in distance mode/study centre is also a responsible factor for the spread of these academic frauds in Assam and other states. The challenges and mitigation of these issues have been discussed.

Keywords: Assam, fraud, higher education, mitigation

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Authors: Balimu Mwiya, Mundia Muya, Chabota Kaliba, Peter Mukalula

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Factors affecting construction unit cost vary depending on a country’s political, economic, social and technological inclinations. Factors affecting construction costs have been studied from various perspectives. Analysis of cost factors requires an appreciation of a country’s practices. Identified cost factors provide an indication of a country’s construction economic strata. The purpose of this paper is to identify the essential factors that affect unit cost estimation and their breakdown using artificial neural networks. Twenty-five (25) identified cost factors in road construction were subjected to a questionnaire survey and employing SPSS factor analysis the factors were reduced to eight. The 8 factors were analysed using the neural network (NN) to determine the proportionate breakdown of the cost factors in a given construction unit rate. NN predicted that political environment accounted 44% of the unit rate followed by contractor capacity at 22% and financial delays, project feasibility, overhead and profit each at 11%. Project location, material availability and corruption perception index had minimal impact on the unit cost from the training data provided. Quantified cost factors can be incorporated in unit cost estimation models (UCEM) to produce more accurate estimates. This can create improvements in the cost estimation of infrastructure projects and establish a benchmark standard to assist the process of alignment of work practises and training of new staff, permitting the on-going development of best practises in cost estimation to become more effective.

Keywords: construction cost factors, neural networks, roadworks, Zambian construction industry

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Authors: Anna Dolinayova, Juraj Camaj, Martin Loch

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Presently it is necessary to ensure the sustainable development of passenger and freight transport. Increasing performance of road freight have been a negative impact to environment and society. It is therefore necessary to increase the competitiveness of intermodal transport, which is more environmentally friendly. The study describe the effectiveness of logistical centers realization for companies and society and research how the partial internalization of external costs reflected in the efficient use of these centers and increase the competitiveness of intermodal transport to road freight. In our research, we use the method of comparative analysis and market research to describe the advantages of logistic centers for their users as well as for society as a whole. Method normal costing is used for calculation infrastructure and total costs, method of conversion costing for determine the external costs. We modelling of total society costs for road freight transport and inter modal transport chain (we assumed that most of the traffic is carried by rail) with different loading schemes for condition in the Slovak Republic. Our research has shown that higher utilization of inter modal transport chain do good not only for society, but for companies providing freight services too. Increase in use of inter modal transport chain can bring many benefits to society that do not bring direct immediate financial return. They often bring the multiplier effects, such as greater use of environmentally friendly transport mode and reduce the total society costs.

Keywords: delivery time, economy effectiveness, logistical centers, ecological efficiency, optimization, society

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Authors: Gurfateh Singh, Mu Khan, Razia Khanam, Govind Mohan

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Objective: The present study has been designed to investigate the beneficial role of Fenofibrate & Clofibrate in attenuated the cardioprotective effect of ischemic preconditioning (IPC) in hyperlipidemic rat hearts. Materials & Methods: Experimental hyperlipidemia was produced by feeding high fat diet to rats for a period of 28 days. Isolated langendorff’s perfused normal and hyperlipidemic rat hearts were subjected to global ischemia for 30 min followed by reperfusion for 120 min. The myocardial infarct size was assessed macroscopically using triphenyltetrazolium chloride staining. Coronary effluent was analyzed for lactate dehydrogenase (LDH) and creatine kinase-MB release to assess the extent of cardiac injury. Moreover, the oxidative stress in heart was assessed by measuring thiobarbituric acid reactive substance, superoxide anion generation and reduced form of glutathione. Results: The ischemia-reperfusion (I/R) has been noted to induce oxidative stress by increasing TBARS, superoxide anion generation and decreasing reduced form of glutathione in normal and hyperlipidemic rat hearts. Moreover, I/R produced myocardial injury, which was assessed in terms of increase in myocardial infarct size, LDH and CK-MB release in coronary effluent and decrease in coronary flow rate in normal and hyperlipidemic rat hearts. In addition, the hyperlipidemic rat hearts showed enhanced I/R-induced myocardial injury with high degree of oxidative stress as compared with normal rat hearts subjected to I/R. Four episodes of IPC (5 min each) afforded cardioprotection against I/R-induced myocardial injury in normal rat hearts as assessed in terms of improvement in coronary flow rate and reduction in myocardial infarct size, LDH, CK-MB and oxidative stress. On the other hand, IPC mediated myocardial protection against I/R-injury was abolished in hyperlipidemic rat hearts. However, Treatment with Fenofibrate (100 mg/kg/day, i.p.), Clofibrate (300mg/kg/day, i.p.) as a agonists of PPAR-α have not affected the cardioprotective effect of IPC in normal rat hearts, but its treatment markedly restored the cardioprotective potentials of IPC in hyperlipidemic rat hearts. Conclusion: It is noted that the high degree of oxidative stress produced in hyperlipidemic rat heart during reperfusion and consequent down regulation of PPAR-α may be responsible to abolish the cardioprotective potentials of IPC.

Keywords: Hyperlipidemia, ischemia-reperfusion injury, ischemic preconditioning, PPAR-α

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Authors: Grzegorz Mazurek, Michal Kucia

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The following study of a preliminary character, presents a first step of multifaceted study on the usage of social media in HEIs. It examines a significance, potential, and managerial implications of social media marketing and blogs usage in HEIs – namely in the sphere of business schools. Social media – particularly: blogging and virtual platforms such as Facebook, Twitter or Instagram have been covered at length in publications of both theoretical and practical nature as of late. Still, the amount of information related to the framework of application of social media in HEIs is rather limited. A pre-designed observation matrix has been used to collect primary data found at websites of different HEIs and to include blog observations. Additionally, a pilot study based on on-line questionnaires with marketing officers of HEI schools has been conducted. The main aim of the study was to identify and elaborate on matters like the scope of social media usage (and blogs in particular) in practice, recognition of the functions fulfilled by social media and blogs, or the anticipated potential of social media for HEIs. The study reveals that the majority of business schools highly ranked in Financial Times rankings use social media and interactive functionalities of their web sites, however, mostly for promotional reasons, and they are targeted at new students. The usage of blogs, though, is not so common and in most cases, blogs are independent platforms, not managed but supported by organizations. Managers and specialists point to lack of resources, insufficient users’ engagement and lack of strategic approach to social media as the main reasons of not advancing in the usage of blogs and social media platforms.

Keywords: blogs, social media marketing, higher education institutions, business schools, value co-creation

Procedia PDF Downloads 240

Authors: Jennifer Gallup, Joel Bocanegra, Greg Callan, Abigail Vaughn

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Students with disabilities (SWD) engaged in a distance summer program delivered over multiple virtual mediums that used gaming principles to teach and practice self-regulated learning (SRL) through the process of exploring possible jobs. Gaming quests were developed to explore jobs and teach transition skills. Students completed specially designed quests that taught and reinforced SRL and problem-solving through individual, group, and teacher-led experiences. SRL skills learned were reinforced through guided job explorations over the context of MinecraftEDU, zoom with experts in the career, collaborations with a team over Marco Polo, and Zoom. The quests were developed and laid out on an accessible web page, with active learning opportunities and feedback conducted within multiple virtual mediums including MinecraftEDU. Gaming mediums actively engage players in role-playing, problem-solving, critical thinking, and collaboration. Gaming has been used as a medium for education since the inception of formal education. Games, and specifically board games, are pre-historic, meaning we had board games before we had written language. Today, games are widely used in education, often as a reinforcer for behavior or for rewards for work completion. Games are not often used as a direct method of instruction and assessment; however, the inclusion of games as an assessment tool and as a form of instruction increases student engagement and participation. Games naturally include collaboration, problem-solving, and communication. Therefore, our summer program was developed using gaming principles and MinecraftEDU. This manuscript describes a virtual learning summer program called Virtual Academy New and Exciting Transitions (VAN) that was redesigned from a face-to-face setting to a completely online setting with a focus on SWD aged 14-21. The focus of VAN was to address transition planning needs such as problem-solving skills, self-regulation, interviewing, job exploration, and communication for transition-aged youth diagnosed with various disabilities (e.g., learning disabilities, attention-deficit hyperactivity disorder, intellectual disability, down syndrome, autism spectrum disorder).

Keywords: autism, disabilities, transition, summer program, gaming, simulations

Procedia PDF Downloads 43

Authors: Cupian

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The expansion of Islamic banking industry seems to emphasize the banking competition in Indonesia where conventional and Islamic banks coexist. In addition, the 2007/2008 global financial crisis and deregulation have the effect on competitive conditions in Islamic banking market. In this context, this study aims at investigating competitive conditions and market power of Islamic banks in Indonesia using firm level data over the period 2006-2013. The study also attempts to identify the factors that represent the power of banking market to better study the degree of competition in this banking industry. Using samples of 27 Islamic commercial banks, the study uses a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization (NEIO). The methodology is based on the set of measures of the competition and market power. The first measure is a set of concentration ratios (CR4) and Herfindahl-Hirschman index (HHI).The second measures are the Panzar and Ross H-statistic and the Lerner index based on econometric estimations with the aim of evaluating the market structure and measuring its power in terms of price setting. The results of the competition analysis suggest that the Islamic banking markets in Indonesia cannot be characterized by the bipolar cases of either perfect competition or monopoly over 2006-2013. That is, banks earned their revenues operating under conditions of monopolistic competition in that period. Overall, Islamic banks in Indonesia operate in a relatively less competitive environment or in high market power. It is also indicated that Islamic bank that hope to achieve higher returns should operate in the competitive environment.

Keywords: bank competition, islamic banks, market structure, profitability

Procedia PDF Downloads 265

Authors: Valeria Tatano, Francesca Guidolin, Francesca Peltrera

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The preservation of historical Italian heritage, at the urban and architectural scale, has to consider restrictions and requirements connected with conservation issues and usability needs, which are often at odds with historical heritage preservation. Recent decades have been marked by the search for increased accessibility not only of public and private buildings, but to the whole historical city, also for people with disability. Moreover, in the last years the concepts of Smart City and Healthy City seek to improve accessibility both in terms of mobility (independent or assisted) and fruition of goods and services, also for historical cities. The principles of Inclusive Design have introduced new criteria for the improvement of public urban space, between current regulations and best practices. Moreover, they have contributed to transforming “special needs” into an opportunity of social innovation. These considerations find a field of research and analysis in the historical city of Venice, which is at the same time a site of UNESCO world heritage, a mass tourism destination bringing in visitors from all over the world and a city inhabited by an aging population. Due to its conformation, Venetian urban fabric is only partially accessible: about four thousand bridges divide thousands of islands, making it almost impossible to move independently. These urban characteristics and difficulties were the base, in the last 20 years, for several researches, experimentations and solutions with the aim of eliminating architectural barriers, in particular for the usability of bridges. The Venetian Municipality with the EBA Office and some external consultants realized several devices (e.g. the “stepped ramp” and the new accessible ramps for the Venice Marathon) that should determine an innovation for the city, passing from the use of mechanical replicable devices to specific architectural projects in order to guarantee autonomy in use. This paper intends to present the state-of-the-art in bridges accessibility, through an analysis based on Inclusive Design principles and on the current national and regional regulation. The purpose is to evaluate some possible strategies that could improve performances, between limits and possibilities of interventions. The aim of the research is to lay the foundations for the development of a strategic program for the City of Venice that could successfully bring together both conservation and improvement requirements.

Keywords: accessibility of historical cities, historical heritage preservation, inclusive design, technological and social innovation

Procedia PDF Downloads 255