Search results for: Central Bank

Authors: Hariyadi, Rili Windiasih

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Halal tourism is a recent global phenomenon that emerged out of the needs of Muslim tourists. However, works on halal tourism rarely discuss the connection of it to the rising religiosity in Indonesia since halal tourism has been mostly studied in the sphere of tourism, business, and management studies. A few works on the increase of Islamic expressions in Indonesia do mention the recent booming of non-mandatory pilgrimage to Mecca and the emergence of sharia compliant accommodation, yet they do not go into details on the issue. To our best knowledge, there is a lack of more critical, cultural political studies on halal tourism in which the paper attempts to fill in. The paper is a result of fieldwork research in Central Java, Indonesia. The study focuses on sacred sites for pilgrimage and sharia-compliant hotels. It combines in-depth interviews and participatory observation methods to gather the data. It is important for us to take a look at the network of halal tourism actors (businessperson, local government, clerics, etc.) in Central Java, how they conceive halal tourism, and how their networking shape halal tourism discourses, policies, and practices. Despite having numerous Islamic pilgrimage places and being designated by the Ministry of Tourism as one of 12 Muslim friendly tourist destinations, the province is not yet widely recognised as the main destination for halal tourism as it is known as the place for more secular, nationalist groups rather than for more Islamic oriented ones. However, in some of its municipalities, there is increasingly more attention to develop halal tourism. In this study, we found out that the development of halal tourism in Central Java connected to dynamics of Islamisation and ideological competition as well as the influence of the more pragmatist businesspersons in a 'nationalist province' in Indonesia.

Keywords: actor networking, halal tourism, Islamisation, Indonesia

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Authors: Asma Righi

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After the global financial crisis of 2008, interest in ethical economics increased, particularly in the field of finance in general and commercial banks in particular. Indeed, it has become imperative for them to move from an institution that aims to make a profit to a community partner that takes the environmental aspect into account in its funding, rationalizes its decisions and adheres to ethics in its dealings. This leads it to the need of adopting the concept of ethical finance and standing on its most important principles and dimensions to realize profits on the one hand and to serve its society and its economy on the other hand. The objective of this research is centered on knowing the reality of the Algerian commercial banks’ adoption of the dimensions and principles of ethical finance. The quantitative methodology used is based on a questionnaire survey of twenty-four banking agencies in the states of Bordj Bou Arreridj and Setif. The data obtained were processed using the Statistical Package for the Social Sciences (SPSS) program. This research led to two main results: first, the author observed a limited application of the principles of ethical finance in commercial banks active in Algeria. This application is particularly in line with the implementation of the directives of the Central Bank and the imposed monetary policy. Second, the results showed that there is a significant difference in the application of ethical financial dimensions and principles between government and foreign banks.

Keywords: Algerian commercial banks, ethical banking, ethical finance, socially responsible investment

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Authors: Ibrahim Rabiu Darazo

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The research has been conducted on the impact of E-banking on the operational efficiency of Banks in Nigeria, A case of some selected banks (Diamond Bank Plc, GTBankPlc, and Fidelity Bank Plc) in Nigeria. The research is a quantitative research which uses both primary and secondary sources of data collection. Questionnaire were used to obtained accurate data, where 150 Questionnaire were distributed among staff and customers of the three Banks , and the data collected where analysed using chi-square, whereas the secondary data where obtained from relevant text books, journals and relevant web sites. It is clear from the findings that, the use of e-banking by the banks has improved the efficiency of these banks, in terms of providing efficient services to customers electronically, using Internet Banking, Telephone Banking ATMs, reducing time taking to serve customers, e-banking allow new customers to open an account online, customers have access to their account at all the time 24/7.E-banking provide access to customers information from the data base and cost of check and postage were eliminated using e-banking. The recommendation at the end of the research include; the Banks should try to update their electronic gadgets, e-fraud(internal & external) should also be controlled, Banks shall employ qualified man power, Biometric ATMs shall be introduce to reduce fraud using ATM Cards, as it is use in other countries like USA.

Keywords: banks, electronic banking, operational efficiency of banks, biometric ATMs

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Authors: Nwobu Obiamaka, Owolabi Akintola

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This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: governance, organizations, reporting, sustainability

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Authors: Dagikhudo Dagiev

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This paper is a thorough contribution to the analysis of Russian, Soviet and post-Soviet scholarship on the study of Ismailism in Central Asia. It focuses on the lengthy development of Russian studies on Ismailism from the Russian colonial domination to the entire period of Soviet rule, down to the collapse of the Soviet Union and the last two decades of post-Soviet history. These studies, conducted along the lines of various disciplines in the span of more than one hundred years, have resulted in a large amount of scholarly contributions. This paper aims at probing the virtues and shortcoming of such scholarship. Particularly, our investigation of the specialised fields in the Russian-Soviet Studies has required laborious researches in Russian and Central Asian libraries, which have enabled us to provide a guide through this literature, assessing its ideological leanings and qualities, institutions and level of scholarship. Despite some shortcomings, due to Marxism and the authoritarian rule of the Communist Party over the socio-religious life of the people and religious communities, Soviet studies have produced many positive insights on Ismailis studies. These captured almost every aspects of the life of the Ismaili community from anthropology to archaeology, ethnography, history, philosophy, ritual practice and, most importantly, collection and preservation of Ismaiili manuscripts, which will be examined and assessed in this study.

Keywords: Central Asian Studies, Ismailism, Russian Studies, Soviet Studies

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Authors: N. Maksimentseva

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The issue of public administration in subsoil use, renewal and protection is of high importance for Ukraine since it is strongly linked to energy security of the state as well as it shall facilitate the people of Ukraine to efficiently implement its propitiatory rights towards natural resources and redistribution of national wealth. As it is stipulated in the Article 11 of the Subsoil Code of Ukraine (the Code) the authorities that administer the industry are limited to central executive bodies and local governments. In particular, it is stipulated in the Code that the Ukraine’s Cabinet of Ministers carries out public administration in geological exploration, production and protection of subsoil. Other state bodies of public administration include central public authority responsible for state environmental protection policies; central public authority in charge of implementation of state geological exploration and efficient subsoil use policies; central authority in charge of state health and safety control policies. There are also public authorities in the Autonomous Republic of Crimea; local executive bodies and other state authorities and local self-government authorities in compliance with laws of Ukraine. This article is devoted to the analysis of the legal relations in the area of public administration of subsoil use, renewal and protection in Ukraine. The main approaches to study the essence of legal relations in the named area as well as its tasks, functions and methods are analyzed. It is concluded in this article that legal relationship in the field of public administration of subsoil use, renewal and protection is characterized by specifics of its task (development of natural resources).

Keywords: legal relations, public administration, subsoil code of Ukraine, subsoil use, renewal and protection

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Authors: Hazem M. Al-Mofleh

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In this paper, a new four-parameter univariate continuous distribution called the Normal-Generalized Hyperbolic Secant Distribution (NGHS) is defined and studied. Some general and structural distributional properties are investigated and discussed, including: central and non-central n-th moments and incomplete moments, quantile and generating functions, hazard function, Rényi and Shannon entropies, shapes: skewed right, skewed left, and symmetric, modality regions: unimodal and bimodal, maximum likelihood (MLE) estimators for the parameters. Finally, two real data sets are used to demonstrate empirically its flexibility and prove the strength of the new distribution.

Keywords: bimodality, estimation, hazard function, moments, Shannon’s entropy

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Authors: Lucy Ampaw-Asiedu, Terri R. Norton

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In the wake of recent disasters happening around the world such as earthquake in Italy (January, 2017); hurricanes in the United States (US) (September 2016 and September 2017); and compounding disasters in Haiti (September 2010 and September 2016); to our best knowledge, never has the world seen the need to work on preemptive rather than reactionary measures to salvage this situation than now. Tornadoes are natural hazards that mostly affect mid-western and central states in the US. Tornadoes, like all natural hazards such as hurricanes, earthquakes, floods and others, are very destructive and result in massive destruction to homes, cause billions of dollars in damage and claims many lives. Healthcare facilities in general are vulnerable to disasters, and therefore, the safety of patients, health workers and those who come in to seek shelter should be a priority. The focus of this study is to assess disaster management measures instituted by healthcare facilities. Thus, the sole aim of the study is to examine the vulnerabilities and the design of safe spaces in healthcare facilities in Central US. Objectives that guide the study are to primarily identify the impacts of tornadoes in hospitals and to assess the structural design or specifications of safe spaces. St. John’s Regional Medical Center, now Mercy Hospital in Joplin, is used as a case study. Preliminary results show that the lateral base shear of the proposed design to be 684.24 ton (1508.49kip) for the safe space. Findings from this work will be used to make recommendations about the design of safe spaces for health care facilities in Central US.

Keywords: disaster management, safe spaces, structural design, tornado, vulnerability

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Authors: S. Raja Mohamed, M. H Shwehdi, D. Devaraj

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This paper is to present and discuss the new planned 380 kV transmission line performance under steady and transient states. Dynamic modeling and analysis of such inter-tie, which is, proposed to transfer energy from west to south and vice versa will be demonstrated and discussed. The west-central-south inter-tie links Al-Aula-Zaba-Tabuk-Tubajal-Jawf-Hail. It is essential to investigate the transient over-voltage to assure steady and stable transmission over such inter-tie. Saudi Electricity Company (SEC) has been improving its grid to make the whole country as an interconnected system. Already east, central and west were interconnected, yet mostly each is fed with its local generation. The SEC is planning to establish many inter-ties to strengthen the transient stability of its grid. The paper studies one of the important links of 380 kV, 220 km between Tabouk and Tubarjal, which is a step towards connecting the West with the South region. Modeling and analysis using some softwares will be utilized under different scenarios. Adoption of methods to stabilize and increase its power transmission are also discussed. Improvement of power system transients has been controlled by FACTS elements such the Static Var Compensators (SVC) receiving a wide interest since many technical studies have proven their effects on damping system oscillations and stability enhancement. Illustrations of the transient at each main generating or load bus will be checked in all inter-tie links. A brief review of possible means to solve the transient over-voltage problem using different FACTS element modeling will be discussed.

Keywords: transient stability, static var compensator, central-west interconnected system, damping controller, Saudi Electricity Company

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Authors: Alper Serdar Anli

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Analysis of temporal variation of reference evapotranspiration (ET0) is important in arid and semi-arid regions where water resources are limited. In this study, temporal variation of reference evapotranspiration (ET0) and meteorological drought analysis through SPEI (Standardized Precipitation Evapotranspiration Index) method have been carried out in provinces of Central Anatolia Region, Turkey. Reference evapotranspiration of concerning provinces in the region has been estimated using Penman-Monteith method and one calendar year has been split up four periods as r1, r2, r3 and r4. Temporal variation of reference evapotranspiration according to four periods has been analyzed through parametric Dickey-Fuller test and non-parametric Mann-Whitney U test. As a result, significant increasing trends for reference evapotranspiration have been detected and according to SPEI method used for estimating meteorological drought in provinces, mild drought has been experienced in general, and however there have been also a significant amount of events where moderate and severely droughts occurred.

Keywords: central Anatolia region, drought index, Penman-Monteith, reference evapotranspiration, temporal variation

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Authors: Guyue Zhu, Liangping Hong

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Chinese overall urban design faces a large number of problems such as the neglect of urban characteristics, generalization of content, and difficulty in implementation. Focusing on these issues, this paper proposes the main points of shaping urban characteristics in overall urban design: focuses on core problems in city function and scale, landscape pattern, historical culture, social resources and modern city style and digs the urban characteristic genes. Then, we put forward “core problem location and characteristic gene enhancement” as a kind of overall urban design technical method. Firstly, based on the main problems in urban space as a whole, for the operability goal, the method extracts the key genes and integrates into the multi-dimension system in a targeted manner. Secondly, hierarchical management and guidance system is established which may be in line with administrative management. Finally, by converting the results, action plan is drawn up that can be dynamically implemented. Based on the above idea and method, a practical exploration has been performed in the case of Xiangyang central city.

Keywords: city characteristics, overall urban design, planning implementation, Xiangyang central city

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Authors: Alfred Quarcoo

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The main purpose of this paper is to examine the causal relationship between energy consumption and economic growth in Sub-Saharan Africa using panel data techniques. An annual data on energy consumption and Economic Growth (proxied by real gross domestic product per capita) spanning from 1990 to 2016 from the World bank index database was used. The results of the Augmented Dickey–Fuller unit root test shows that the series for all countries are not stationary at levels. However, the log of economic growth in Benin and Congo become stationary after taking the differences of the data, and log of energy consumption become stationary for all countries and Log of economic growth in Kenya and Zimbabwe were found to be stationary after taking the second differences of the panel series. The findings of the Johansen cointegration test demonstrate that the variables Log of Energy Consumption and Log of economic growth are not co-integrated for the cases of Kenya and Zimbabwe, so no long-run relationship between the variables were established in any country. The Granger causality test indicates that there is a unidirectional causality running from energy use to economic growth in Kenya and no causal linkage between Energy consumption and economic growth in Benin, Congo and Zimbabwe.

Keywords: Cointegration, Granger Causality, Sub-Sahara Africa, World Bank Development Indicators

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Authors: Dilson Subedi

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Current transformers are an integral part of power system because it provides a proportional safe amount of current for protection and measurement applications. However, due to upgradation of electromechanical relays to numerical relays and electromechanical energy meters to digital meters, the connected burden, which defines some of the CT characteristics, has drastically reduced. This has led to the system experiencing high currents damaging the connected relays and meters. Since the protection and metering equipment's are designed to withstand only certain amount of current with respect to time, these high currents pose a risk to man and equipment. Therefore, during such instances, the CT saturation characteristics have a huge influence on the safety of both man and equipment and on the reliability of the protection and metering system. This paper shows the effectiveness of a bank of parallel connected resistors, as a burden compensation technique, in compensating the burden of under-burdened CT’s. The response of the CT in the case of failure of one or more resistors at different levels of overcurrent will be captured using the LabVIEWTM data acquisition hardware (DAQ). The analysis is done on the real-time data gathered using LabVIEWTM. Variation of current transformer saturation characteristics with changes in burden will be discussed.

Keywords: accuracy limiting factor, burden, burden compensation, current transformer

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Authors: Nazira Kakulia

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The analysis of transformation of institutional changes outlines two important characteristics. These are: the speed of the changes and their sequence. Successful transformation must be carried out in three different stages; On the first stage, macroeconomic stabilization must be achieved with the help of fiscal and monetary tools. Two-tier banking system should be established and the active functions of central bank should be replaced by the passive ones (reserve requirements and refinancing rate), together with the involvement growth of private sector. Fiscal policy by itself here means the creation of tax system which must replace previously existing direct state revenues; the share of subsidies in the state expenses must be reduced also. The second stage begins after reaching the macroeconomic stabilization at a time of change of formal institutes which must stimulate the private business. Corporate legislation creates a competitive environment at the market and the privatization of state companies takes place. Bankruptcy and contract law is created. he third stage is the most extended one, which means the formation of all state structures that is necessary for the further proper functioning of a market economy. These three stages about the cycle period of political and social transformation and the hierarchy of changes can also be grouped by the different methodology: on the first and the most short-term stage the transfer of power takes place. On the second stage institutions corresponding to new goal are created. The last phase of transformation is extended in time and it includes the infrastructural, socio-cultural and socio-structural changes. The main goal of this research is to explore and identify the features of such kind of models.

Keywords: competitive environment, fiscal policy, macroeconomic stabilization, tax system

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Authors: Sennanda Musa, Ahmed Mutunzi Kitunzi, Gerald Kasigwa, Ismail Kintu

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This paper is an analysis of the empirical relationship between project financing by Islamic Development Bank (IsDB) and the poverty trends in the context of countries benefiting from IsDB. Specifically, the study seeks to find out whether there is a statistically significant relationship between the project financing dollar amounts by IsDB (PF) and the GNI Per Capita, PPP of 57 countries for the years 2002 to 2021. The research is a longitudinal, desk-top triangulation of correlation, regression, hypothesis-testing employing the linear dynamic panel data GMM model as an estimator of the empirical relationships between the key variables of the study. The study results show that there is a significant positive relationship between the PF dollar amounts from the IsDB and the GNI Per Capita, PPP in these 57 countries. Therefore, countries that receive higher PF dollar amounts from the IsDB, generally have more GNI Per Capita, PPP (less poverty) than their counterparts. It is, therefore, recommendable for countries to formulate policies that facilitate Islamically financed projects to mitigate poverty. This paper develops policy discussions regarding allocation of political attention to the policy topics on poverty mitigation, and their relation to financing projects Islamically, thus generate information on policy choices regarding the Islamic financing alternative.

Keywords: gross-national-income, IsDB-project-financing, public policy, poverty

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Authors: Raif Parlakkaya, Huseyin Cetin, Duygu Irdiren

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By the development of World Wide Web, the usage rate of Internet has rapidly grown globally; and provided a basis for the emergence of electronic business. As well as other sectors, the banking sector has adopted the use of internet with the developments in information and communication technologies. Due to the public disclosure and transparency principle of Corporate Governance, the importance of information disclosure of banks on their web sites has increased significantly. For the purpose of this study, a Bank Disclosure Attribute Index (BDAI) in Turkey has been constructed through classifying the information disclosure on banks’ web sites into general, financial, investors and corporate governance attributes. All 47 banks in Turkish Banking System have been evaluated according to the index with the aim of providing a comparison between banks. By Chi Square Test, Pearson Correlation, T-Test, and ANOVA statistical tools, it has been concluded that the majority of banks in Turkey have shared information on their web sites adequately with respect to their total index score. Although there is a positive correlation between various types of information on banks’ web sites, there is no uniformity among them. Also, no significant difference between various types of information disclosure and bank types has been observed. Compared with the total index score averages of the five largest banks in Turkey, there are some banks that need to improve the content of their web sites.

Keywords: internet banking, websites evaluation, customer adoption, Turkey

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Authors: Zain Khalid

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The paper outlines the trends of cyber financial crimes and frauds – approximating upto – in Pakistan after the enactment of The Prevention of Electronic Crimes Act in 2016. The paper elaborates on the newer methods that fraudsters have adopted after tighter preventive and counter measures were employed in Pakistan partly as a result of following the international finance related commitments, particularly the FATF regulations. The paper adopts case studies methods to highlight various aspects of the financial frauds and crimes committed and later investigated jointly by Pakistan’s one of the federal law enforcement agencies, the Federal Investigation Agency, and Mobilink Microfinance Bank , Pakistan’s premier microfinance bank. It additionally enriches the data through expert interviews – with crime investigators and the experts to carry out an in-depth analysis of the various factors involving the crime. This paper emphasizes the structural and situational factors that shape up the cyber financial crimes in Pakistan vis-à-vis digital illiteracy and lack of awareness among the users of financial services. This paper, thus, on the basis of findings and expert interviews, suggests policy reforms to reduce the instances of the financial crimes, especially in the remotest areas of the country.

Keywords: financial crimes, cyber crimes, digital literacy, terrorism financing, banking sector

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Authors: Mouldi Djelassi, Jamel Boukhatem

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Background: A relation has been established between Islamic banks' activities and interest rates. The aim of this study was to explore the impact of interest rates on the deposits and loans held by Islamic and conventional banks in Saudi Arabia. Methods: A time series data was performed over the period 2008Q1-2020Q2 on eight conventional banks and four Islamic banks. The impacts of interest rate shocks on deposits and loans were identified through panel vector autoregressive models. Results: Impulse response function analysis showed that increasing interest rates reduce loans and conventional deposits. For Islamic banks, deposits are more affected by interest rates than lending. Variance decomposition analysis revealed that deposits contribute to 61% of the Islamic financing variation and only 25% of the conventional loans. Conclusion: Interest rates impacted Islamic banks especially through deposits, which is inconsistent with the theoretical framework. Islamic deposits played an important role in Islamic financing variation and may provide to be a channel for the transmission of the monetary policy in a dual banking system. Monetary policy in Saudi Arabia works in part through “credits” (conventional bank credits) as well as through “money” (conventional and Islamic bank deposits).

Keywords: Islamic banking, interest rates, monetary policy transmission, panel VAR

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Authors: Sudhir Kumar, V. R. Sinha

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Water in oil topical microemulsions of 5-FU were developed and optimized using face centered central composite design. Topical w/o microemulsion of 5-FU were prepared using sorbitan monooleate (Span 80), polysorbate 80 (Tween 80), with different oils such as oleic acid (OA), triacetin (TA), and isopropyl myristate (IPM). The ternary phase diagrams designated the microemulsion region and face centered central composite design helped in determining the effects of selected variables viz. type of oil, smix ratio and water concentration on responses like drug content, globule size and viscosity of microemulsions. The CCD design exhibited that the factors have statistically significant effects (p<0.01) on the selected responses. The actual responses showed excellent agreement with the predicted values as suggested by the CCD with lower residual standard error. Similarly, the optimized values were found within the range as predicted by the model. Furthermore, other characteristics of microemulsions like pH, conductivity were investigated. For the optimized microemulsion batch, ex-vivo skin flux, skin irritation and retention studies were performed and compared with marketed 5-FU formulation. In ex vivo skin permeation studies, higher skin retention of drug and minimal flux was achieved for optimized microemulsion batch then the marketed cream. Results confirmed the actual responses to be in agreement with predicted ones with least residual standard errors. Controlled release of drug was achieved for the optimized batch with higher skin retention of 5-FU, which can further be utilized for the treatment of many dermatological disorders.

Keywords: 5-FU, central composite design, microemulsion, ternanry phase diagram

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Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

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The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

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Authors: Sudipto Sarkar

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Capital is the primary fuel for starting and running a business. Since capital is crucial for every business, entrepreneurs must successfully acquire adequate capital for executing their projects. Sources for the necessary capital for entrepreneurs include their own personal funds from existing bank accounts, or lines of credit or loans from banks or financial institutions, or equity funding from investors. The most commonly selected source of capital is a bank loan. However, acquiring a loan by any entrepreneur requires adhering to strict guidelines, conditions and norms. Because not only they have to show evidence for viability of the project, but also the means to return the acquired loan. On the bank’s part, it requires that every loan officer performs a thorough credit appraisal of the prospective borrowers and makes decisions about whether or not to lend money, how much to lend, and what conditions should be attached to it. Moreover, these credit decisions in general were often based on biases, analytical techniques, or prior experience. A loan can either turn out to be good or poor, irrespective of what type of credit decisions were followed. However, based on prior experience, the loan officers seem to differentiate between a good and a bad loan by examining the borrower’s credit history, pattern of borrowing, volume of borrowing, frequency of borrowing, and reasons for borrowing. As per an article written by Maureen Wallenfang on postcrescent.com dated May 10, 2010, it is observed that borrowers with good credit, solid business plans and adequate collateral security were able to procure loans very easily in the Fox Valley region. Since loans are required to run businesses, and also with the propensity of loans to become bad, loan officers tend to be very critical and cautious before approving and disbursing the loans. The pressure to be critical and cautious, at least partly, is a result of increased scrutiny by the Securities and Exchange Commission. As per Wall Street Journal (Sidel & Eaglesham, March, 3 2011, online), the Securities and Exchange Commission scrutinized banks that have restructured troubled loans in order to make them appear healthier than they really are. Therefore, loan officers’ loan criteria are of immense importance for entrepreneurs and banks alike.

Keywords: entrepreneur, loans, marketing, banks

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Authors: Surendra Mund

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At the beginning, the physical entity force was defined mathematically by Sir Isaac Newton in his Principia Mathematica as F ⃗=(dp ⃗)/dt in form of his second law of motion. Newton also defines his Universal law of Gravitational force exist in same outstanding book, but at the end of 20th century and beginning of 21st century, we have tried a lot to specify and unify four or five Fundamental forces or Interaction exist in universe, but we failed every time. Usually, Gravity creates problems in this unification every single time, but in my previous papers and presentations, I defined and derived Field and force equations for Gravitational like Interactions for each and every kind of central systems. This force is named as Variational Force by me, and this force is generated by variation in the scalar field density around the body. In this particular paper, at first, I am specifying which type of Interactions are Fundamental in Universal sense (or in all type of central systems or bodies predicted by my N-time Inflationary Model of Universe) and then unify them in Universal framework (defined and derived by me as Universal Mechanics in a separate paper) as well. This will also be valid in Universal dynamical sense which includes inflations and deflations of universe, central system relativity, Universal relativity, ϕ-ψ transformation and transformation of spin, physical perception principle, Generalized Fundamental Dynamical Law and many other important Generalized Principles of Generalized Quantum Mechanics (GQM) and Central System Theory (CST). So, In this article, at first, I am Generalizing some Fundamental Principles, and then Unifying Variational Forces (General form of Gravitation like Interactions) and Flow Generated Force (General form of EM like Interactions), and then Unify all Fundamental Forces by specifying Weak and Strong Interactions in form of more basic terms - Variational, Flow Generated and Transformational Interactions.

Keywords: Central System Force, Disturbance Force, Flow Generated Forces, Generalized Nuclear Force, Generalized Weak Interactions, Generalized EM-Like Interactions, Imbalance Force, Spin Generated Forces, Transformation Generated Force, Unified Force, Universal Mechanics, Uniform And Non-Uniform Variational Interactions, Variational Interactions

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Authors: Sukant Mehra, Parth Gupta, Varun Arora, Sarvoday Singh, Amit Kohli

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The study was emphasised on dry sliding wear behavior of AISI 1042 steel. Dry sliding wear tests were performed using pin-on-disk apparatus under normal loads of 5, 7.5 and 10 kgf and at speeds 600, 750 and 900 rpm. Response surface methodology (RSM) was utilized for finding optimal values of process parameter and experiment was based on rotatable, central composite design (CCD). It was found that the wear followed linear pattern with the load and rpm. The obtained optimal process parameters have been predicted and verified by confirmation experiments.

Keywords: central composite design (CCD), optimization, response surface methodology (RSM), wear

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Authors: Ibrahim Alkandi

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This study aims at understanding how banks can utilize their resources and capabilities to achieve a competitive advantage. The resource-based approach has been applied to assess the resources and capabilities as well as how the management perceives them as sources of competitive advantages. A quantitative approach was implemented using cross-sectional data. The research population consisted of Top managers in financial companies in Saudi Arabia, and the sample comprised 79 managers. The resources were sub divided into tangible and intangible. Among the variables that will be assessed in the research include propriety rights, trademark which is the brand, communication as well as organizational culture. To achieve the objective of the research, Multivariate analysis through multiple regression was used. The research tool used is a questionnaire whose validity is also assessed. According to the results of the study, there is a significant relationship between bank’s performance and the strategic management of propriety rights, trademark, administrative and financial skills as well as bank culture. Therefore, the research assessed four aspects, among the variables in the model, in relation to the strategic performance of these banks. The aspects considered were trademark, communication, administrative and leadership style as well as the company’s culture. Hence, this paper contributes to the body of literature by providing empirical evidence of the resources influencing both banks’ market and economic performance.

Keywords: competitive advantage, Saudi banks, strategic management, RBV

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Sajida Rasheed, Imran Hashmi, Luiza Campos, Qizhi Zhou, Kim Keu

Abstract:

A quadratic model (p ˂ 0.0001) was developed by using central composite design of 50 experimental runs (42 non-center + 8 center points) to assess efficiency of background chlorine residuals in combating accidental microbial episode in a prototype distribution network (DN) (rig). A known amount of background chlorine residuals were maintained in DN and a required number of bacteria, Escherichia coli K-12 strain were introduced by an injection port in the pipe loop system. Samples were taken at various time intervals at different pipe lengths. Spread plate count was performed to count bacterial number. The model developed was significant. With microbial concentration and time (p ˂ 0.0001), pipe length (p ˂ 0.022), background chlorine residuals (p ˂ 0.07) and time^2 (p ˂ 0.09) as significant factors. The ramp function of variables shows that at the microbial count of 10^6, at 0.76 L/min, and pipe length of 133 meters, a background residual chlorine 0.16 mg/L was enough for complete inactivation of microbial episode in approximately 18 minutes.

Keywords: central composite design (CCD), distribution network, Escherichia coli, residual chlorine

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Authors: B. Tirpude, V. Surwade, P. Murkey, P. Wankhade, S. Meena

Abstract:

There is no statistical data to establish variation in epiphyseal fusion in girls in central India population. This significant oversight can lead to exclusion of persons of interest in a forensic investigation. Epiphyseal fusion of proximal end of humerus in eighty females were analyzed on radiological basis to assess the range of variation of epiphyseal fusion at each age. In the study, the X ray films of the subjects were divided into three groups on the basis of degree of fusion. Firstly, those which were showing No Epiphyseal Fusion (N), secondly those showing Partial Union (PC), and thirdly those showing Complete Fusion (C). Observations made were compared with the previous studies.

Keywords: epiphyseal union, shoulder joint, proximal end of humerus

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Authors: Albert T. Akume, Yahya M. Abdullahi

Abstract:

The impact of poverty on individual and society is grave, hence the efforts by the government to eradicate or alleviate. In Nigeria the various efforts to reduce rural poverty by empowering them and making the process of their development self-sustaining have ended dismally. That notwithstanding, government determination to conquer poverty has not diminish as in the early 1990s the government with financial collaboration from the World Bank and African Development Bank introduced the fadama project. It is against this backdrop that this paper uses the documentary and analytical research methods to examine the implication the fadama development project has for community capacity development and human security in Nigeria. From the analysis it was discovered the fadama project improved household income of fadama farmers, community empowerment, participatory development planning and support for demand driven productive investment in farm and non-farm activities including community infrastructures. Despite this impressive result the fadama project is challenged by conflict especially in northern Nigeria and late delivery of necessary farm consumables that aid improved productivity. It was therefore recommended that the government should strengthen her various state security institutions to proactively mitigate conflicts and to ensure that farm consumables and other support services reach farmers timely.

Keywords: capacity development, empowerment, fadama, human security, poverty reduction, theory of change, sustainable development

Procedia PDF Downloads 447

Authors: Kevin R. Collins Sr.

Abstract:

In South Central Los Angeles, Black people have endured various forms of trauma that spans across generations. This includes the horrors of slavery and the aftermaths of the Jim Crow Laws, institutionalized racism, and legislative segregation, just to name a few. The individuals born from the 1900’s until today have continued to transmit the traumas experienced across generations. Parents unconsciously transmit the hidden trauma, and the children take these experiences and apply it to the society they live in. Although there are some who attempt to break the cycle of transmitted trauma, the remninsce still remain and play a huge role in how they interact with others. The attempt of this discussion is to bring these traumatic experiences to the surface and attack them head on. It is important that we do this to allow not only the suffering individuals but the suffering society to heal. As a society, looking at the humane side of it and attempting to stop the racial injustice placed on black people to relieve them of the stress that some. If not all,, endure in this great United States of America. Changing the behavior as a country to create an improved since of common unity within. If we solve our own racial and social issues within this country, maybe we can solve these same issues that have been the footstool to the many wars we see around the world. Thus, breaking the cycle of inherited intergenerational trauma.

Keywords: intergenerational trauma, inherited trauma, transmission of trauma, blacks in South central LA, black trauma in America

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Authors: Moujib Bahri, Rahim Kallel, Ouafa Sakka

Abstract:

Corruption is a phenomenon that increases uncertainty and risk of SMEs as it undermines the quality of the business environment and the easy access to public services. Our research builds on existing research on corruption's effects on economic growth at the firm level. Several papers have analyzed the effect of firms’ payments of bribes on their performance; however, only limited research has investigated the link between corruption, innovation, and exports. Drawing on principal-agent theory, we explore how corruption weakens the institutional context and makes the business environment unsound and not conducive to innovation and exports. This study employs data from The Enterprise Surveys conducted in Tunisia between March 2013 and July 2014 by the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). The main objective of this survey was to gain a better understanding of Tunisian firms’ perception of the environment in which they operate. Since 2011, the country's political situation has become fragile and unstable, and public services are perceived as inefficient and corrupt. We test our hypotheses on a sample of 537 Tunisian manufacturing SMEs using structural equation modeling and path analysis. We find that political instability leads to higher level of corruption, and that excessive business licensing regulations create a fertile ground for bribery. Our findings do not support the greasing hypothesis suggesting that corruption can reduce the negative effect of bureaucratic delays and the hard access of companies to public services related to innovation and exports. Instead, our results support the sanding hypothesis according to which corruption hinders innovation activities and exports. Furthermore, corruption is found to, negatively and significantly, impact firms’ ownership of quality certificates. Our results suggest that, in an environment with a high level of corruption, governments and policymakers interested in assisting SMEs with their innovation and export activities should have a better control on corruption to allow them developing those activities without being forced to bribe government officers.

Keywords: corruption, innovation, exports, SMEs

Procedia PDF Downloads 153