Search results for: board committees

Authors: Xize Dai, Jian Hao, Claus Leth Bak, Gian Carlo Montanari, Huai Wang

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Printed Circuit Board (PCB) is a critical component applicable to power electronics systems, especially for high-voltage applications involving several high-voltage and high-frequency SiC/GaN devices. The insulation system of PCB is facing more challenges from high-voltage and high-frequency stress that can alter the dielectric properties. Dielectric properties of the PCB insulation system also determine the electrical field distribution that correlates with intrinsic and extrinsic aging mechanisms. Hence, investigating the dielectric properties in the frequency domain of the PCB insulation system is a must. The paper presents the frequency-dependent, temperature-dependent, and voltage-dependent dielectric properties, permittivity, conductivity, and dielectric loss tangents of PCB insulation systems. The dielectric properties mechanisms associated with frequency, temperature, and voltage are revealed from the design perspective. It can be concluded that the dielectric properties of PCB in the frequency domain show a strong dependence on voltage, frequency, and temperature. The voltage-, frequency-, and temperature-dependent dielectric properties are associated with intrinsic conduction behavior and polarization patterns from the perspective of dielectric theory. The results may provide some reference for the PCB insulation system design in high voltage, high frequency, and high-temperature power electronics applications.

Keywords: electrical insulation system, dielectric properties, high voltage and frequency, printed circuit board

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Authors: Somaieh Salehpour, Douglas Ireland, Chris Anderson, Charles Markessini

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Over the last few years, advancements have been made around improving sustainability for wood composite boards. One of the last and most challenging sustainability hurdles is finding a viable alternative to petroleum-based resin binders. In today’s market, no longer is formaldehyde emission control sufficient to meet the requirements of many architects and end-use consumers. Even the use of highly reactive isocyanates is considered by many as not sustainable enough since these chemicals are manufactured from classical fossil fuel sources. The emergence of biopolymers specifically engineered for usage as wood composite binders has been successfully demonstrated in this paper as a viable option towards a truly renewable wood composite board. Recent technology advancements driven by EcoSynthetix and CHIMAR have exploited the advantages of using an engineered biopolymer. The evidence shows that this renewable technology has the potential to be used as a partial up to full replacement of classical formaldehyde technologies. Numerous trials, both in the lab and at industrial scale, have shown that a renewable binder of the proposed technology can produce a commercially viable board in a traditional industrial setting. The ultimate goal of this work is to provide evidence that a sustainable binder alternative can be used to make a commercial board while at the same time improving the total cost of manufacturing.

Keywords: no added formaldehyde, renewable, biopolymers, sustainable wood composites, engineered biopolymers

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Authors: R. Naveen, E. Vanitha, S. Gayathri

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The use of Sandwich composite materials in aerospace and civil infrastructure application has been increasing especially due to their enormously low weight that leads to a reduction in the total weight and fuel consumption, high flexural and transverse shear stiffness, and corrosion resistance. The essential properties of sandwich materials vary according to the application area of the structure. The objectives of this study are to identify the mechanical behaviour and failure mechanisms of sandwich structures made of bamboo, V- board and metal (Aluminium as face sheet and Foam as Core material). The three-point bending test and UTM (Universal testing machine) experimental tests are done for three specimens for each type of sandwich composites. From the experiment results of three sandwich composites, bamboo shows high Young’s modulus of elasticity and low density.

Keywords: bamboo sandwich composite, metal sandwich composite, sandwich composite, v-board sandwich composite

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Authors: Su-Ping Liu, Yue Tian, Yifan Shen

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This study investigates the effect of corporate governance on earnings management when firms have reported a long stream of earnings increases (hereafter referred to as earnings beaters). We expect that good quality of corporate governance decreases the probability of income-increasing earnings management. We employ transparent tools to capture firms’ opportunistic management behavior, specifically, the repurchase of stock. In addition, we use corporate governance proxies to measure the degree of corporate governance, including board size, board independence, CEO duality, and the frequency of meeting. The results hold after the controlling of variables that suggested in prior literature. We expect that the simple technique, that is, firms’ degree of corporate governance, to be used as an inexpensive first step in detecting earnings management.

Keywords: corporate governance, earnings management, earnings patterns, stock repurchase

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Authors: Norbert Szulc, Jakub Wilk, Franciszek Górski

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This paper presents an approach for simulating and testing robotic systems based on PX4, using a local Kubernetes cluster. The approach leverages modern cloud-native tools and runs on single-board computers. Additionally, this solution enables the creation of datasets for computer vision and the evaluation of control system algorithms in an end-to-end manner. This paper compares this approach to method commonly used Docker based approach. This approach was used to develop simulation environment for an unmanned surface vehicle (USV) for RoboBoat 2023 by running a containerized configuration of the PX4 Open-source Autopilot connected to ROS and the Gazebo simulation environment.

Keywords: cloud computing, Kubernetes, single board computers, simulation, ROS

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Authors: K. Hołda, D. Śliwa, K. Daniec, A. Nawrat

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This article was created as part of the developed master's thesis. It attempts to present a newly developed device, which will support the work of specialists dealing with broadly understood cybersecurity terms. The device is contrived to automate security tests. In addition, it simulates potential cyberattacks in the most realistic way possible, without causing permanent damage to the network, in order to maximize the quality of the subsequent corrections to the tested network systems. The proposed solution is a fully operational prototype created from commonly available electronic components and a single board computer. The focus of the following article is not only put on the hardware part of the device but also on the theoretical and applicatory way in which implemented cybersecurity tests operate and examples of their results.

Keywords: Raspberry Pi, ethernet, automated cybersecurity tests, ARP, DNS, backdoor, TCP, password sniffing

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Authors: Vijay Marisetty, Poonam Singh

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Research on the effect of director's network connections on investor welfare is inconclusive. Some studies suggest that directors' connections are beneficial, in terms of, improving earnings information, firms valuation for new investors. On the other hand, adverse effects of directorial networks are also reported, in terms of higher earnings management, options back dating fraud, reduction in firm performance, lower board monitoring. From regulatory perspective, the role of directorial networks on corporate welfare is crucial. Cognizant of the possible ill effects associated with directorial networks, large investors, for better representation on the boards, are building their own database of prospective directors who are highly qualified, however, sourced from outside the highly connected directorial labor market. For instance, following Dodd-Frank Reform Act, California Public Employees' Retirement Systems (CalPERs) has initiated a database for registering aspiring and highly qualified directors to nominate them for board seats (proxy access). Our paper stems from this background and tries to explore the chances of outside directors getting directorships who lack established network connections. The paper is able to identify such aspiring directors' information by accessing a unique Indian data sourced from an online portal that aims to match the supply of registered aspirants with the growing demand for outside directors in India. The online portal's tie-up with stock exchanges ensures firms to access the new pool of directors. Such direct access to the background details of aspiring directors over a period of 10 years, allows us to examine the chances of aspiring directors without corporate network, to enter directorial network. Using this resume data of 16105 aspiring corporate directors in India, who have no prior board experience in the directorial labor market, the paper analyses the entry dynamics in corporate directors' labor market. The database also allows us to investigate the value of corporate network by comparing non-network new entrants with incumbent networked directors. The study develops measures of network centrality and network degree based on merit, i.e. network of individuals belonging to elite educational institutions, like Indian Institute of Management (IIM) or Indian Institute of Technology (IIT) and based on job or company, i.e. network of individuals serving in the same company. The paper then measures the impact of these networks on the appointment of first time directors and subsequent appointment of directors. The paper reports the following main results: 1. The likelihood of becoming a corporate director, without corporate network strength, is only 1 out 100 aspirants. This is inspite of comparable educational background and similar duration of corporate experience; 2. Aspiring non-network directors' elite educational ties help them to secure directorships. However, for post-board appointments, their newly acquired corporate network strength overtakes as their main determinant for subsequent board appointments and compensation. The results thus highlight the limitations in increasing board diversity.

Keywords: aspiring corporate directors, board diversity, director labor market, director networks

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Authors: Isabel Acero, Nuria Alcalde

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The economic crisis and notorious corporate scandals have caused social indignation and sparked the debate concerning the underlying rationality of the compensation that directors receive. In this context, this study examines the determinants of the remuneration of directors in listed Spanish companies using individualized data. A multilevel methodology appropriate for this type of data has been used that allows us to differentiate between inter-company variations and intra-company variations. The results show that company size is the variable (at the company level) that exerts the greatest influence on the level of director´s compensation. One surprising finding is that the presence of independent directors on the board has a positive influence on remuneration. At the individual level, tenure and experience have a significant influence on the level of compensation, while the director´s level of education does not appear to have an effect on it.

Keywords: board of directors, compensation, experience, multilevel, tenure

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Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

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Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

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Authors: Sachin Kamble, Raghothama Anekal, Shivakumar Bhavi

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Thermal management of electronic components packaged inside an IP65 rated enclosure is of prime importance in industrial applications. Electrical enclosure protects the multiple board configurations such as inverter, power, controller board components, busbars, and various power dissipating components from harsh environments. Industrial environments often experience relatively warm ambient conditions, and the electronic components housed in the enclosure dissipate heat, due to which the enclosures and the components require thermal management as well as reduction of internal ambient temperatures. Design of Experiments based thermal simulation approach with MOSFET arrangement, Heat sink design, Enclosure Volume, Copper and Aluminum Spreader, Power density, and Printed Circuit Board (PCB) type were considered to optimize air temperature inside the IP65 enclosure to ensure conducive operating temperature for controller board and electronic components through the different modes of heat transfer viz. conduction, natural convection and radiation using Ansys ICEPAK. MOSFET’s with the parallel arrangement, IP65 enclosure molded heat sink with rectangular fins on both enclosures, specific enclosure volume to satisfy the power density, Copper spreader to conduct heat to the enclosure, optimized power density value and selecting Aluminum clad PCB which improves the heat transfer were the contributors towards achieving a conducive operating temperature inside the IP-65 rated Motor Inverter enclosure. A reduction of 52 ℃ was achieved in internal ambient temperature inside the IP65 enclosure between baseline and final design parameters, which met the operative temperature requirements of the electronic components inside the IP-65 rated Motor Inverter.

Keywords: Ansys ICEPAK, aluminium clad PCB, IP 65 enclosure, motor inverter, thermal simulation

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Authors: Nissim Avissar

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This paper aims to question the practice of bringing together people belonging to groups in conflict with the aim of bridging differences through universal empathy and interpersonal connections. It is argued that in cases where one group has the power, and the other is in a struggle to change the balance assuming universal equality between the groups and encouraging emphatic understanding is a non-emphatic practice. Accordingly, a new concept is posited–justice-sensitive empathy, conditioning empathy in such situations on the acknowledgement of an imbalance of power/injustice. With this reframing in mind, educational practices promoting social justice are discussed. In order to create conditions for justice-seeking or politically sensitive empathy, we need to go beyond the conventional definitions of empathy and offer other means and possibilities. Three possibilities are discussed. The first focuses on intra-group (as opposed to inter-group) processes within each group. It means temporary and tactical separation that may allow each group to focus on its own needs and values and perhaps to return to the dialogue more confidently. The second option emphasizes the notion of "constructive conflict," which means that each side still aspires to promote his own interests but without demolishing the other side (which is a rival but also an unwanted and forced partner). Here, alongside the "obligation to resist" and to act to promote justice as we view and understand it, we have to take into account the other side. The third and last option relates to the practice of Restorative Justice. This practice originated in the Truth and Reconciliation committees in South Africa, but it is now widely used in other contexts. Those committees had the authority to punish (or pardon) people; however, their main purpose was to seek truth and, from there, nourish reconciliation. This is the main idea of restorative justice; it seeks justice for the sake of restoring relationships. All the above options involve action and are aware of power relations (i.e., politics). They all seek justice. They may create conditions for the more conventional empathic practice to evolve, but no less than that, they are examples of justice-seeking and politically sensitive empathetic practice.

Keywords: education, empathy, justice, reconciliation

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Authors: Ivan Struhár, Martin Sebera, Lenka Dovrtělová

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The aim of this study was to find out if the special type of exercise with elastic cord can improve the level of postural stability. The exercise programme was conducted twice a week for 3 months. The participants were randomly divided into an experimental group and a control group. The electronic balance board was used for testing of postural stability. All participants trained for 18 hours at the time of experiment without any special form of coordination programme. The experimental group performed 90 minutes plus of coordination exercise. The result showed that differences between pre-test and post-test occurred in the experimental group. It was used the nonparametric Wilcoxon t-test for paired samples (p=0.012; the significance level 95%). We calculated effect size by Cohen´s d. In the experimental group d is 1.96 which indicates a large effect. In the control group d is 0.04 which confirms no significant improvement.

Keywords: balance board, balance training, coordination, stability

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Authors: Tomotaka Yanagida

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The Corporate Governance Code, revised in 2015, requires firms listed within the first and second sections of Japan’s Tokyo stock exchange to select two or more independent outside directors (the Corporate Governance Code4-8). Therefore, Japanese listed firms must do this or explain the reason why they are not able to do so. This study investigates how the Corporate Governance Code affects Japanese listed firms. We find that the Corporate Governance Code increases the ratio of outside directors by nearly 8.8% for a sample of Japanese firms comprising nearly 4,200 firm-year observations from 2014 to 2015 using a difference-in-differences approach. This implies that they felt it would have been difficult to explain why it was not appropriate to have an outside director at the annual shareholders' meeting. Moreover, this suggests that they appoint outside directors as defined by the Corporate Governance Code, but maintain board size. This situation shows that compliance in Japan may simply be 'window dressing,' that is, more form than substance.

Keywords: board structure, comply or explain, corporate governance code, soft law

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Authors: Adel Ali Elshaibani

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Risk management indicators augment the reporting infrastructure, particularly for the board and senior management, to identify, monitor, and manage risks. This enhancement facilitates improved decision-making throughout the banking organization. Decision tree analysis is a tool that visually outlines potential outcomes, costs, and consequences of complex decisions. It is particularly beneficial for analyzing quantitative data and making decisions based on numerical values. By calculating the expected value of each outcome, decision tree analysis can help assess the best course of action. In the context of banking, decision tree analysis can assist lenders in evaluating a customer’s creditworthiness, thereby preventing losses. However, applying these tools in developing countries may face several limitations, such as data availability, lack of technological infrastructure and resources, lack of skilled professionals, cultural factors, and cost. Moreover, decision trees can create overly complex models that do not generalize well to new data, known as overfitting. They can also be sensitive to small changes in the data, which can result in different tree structures and can become computationally expensive when dealing with large datasets. In conclusion, while risk management indicators and decision tree analysis are beneficial for decision-making in banks, their effectiveness is contingent upon how they are implemented and utilized by the board of directors, especially in the context of developing countries. It’s important to consider these limitations when planning to implement these tools in developing countries.

Keywords: risk management indicators, decision tree analysis, developing countries, board of directors, bank performance, risk management strategy, banking institutions

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Authors: Ummu Salma Al Azizah, Herri Mulyono, Anisa Mauliata Suryana

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The significance of corporate governance regarding to the agency problem have been transparent. This study examine the impact of corporate governance on the performance of Islamic banking in Indonesia. By using fixed effect model and added some control variable, the current study try to explore the correlation between the theoretical framework on corporate governance, such as agency theory and risk management theory. The bank performance (Return on Asset and Return on Equity) which are operational performance and financial performance. And Corporate governance based on Board size, CEO duality, Audit committee and Shariah supervisory board. The limitation of this study only focus on the Islamic banks performance from year 2015 to 2020. The study fill the gap in the literature by addressing the issue of corporate governance on Islamic banks performance in Indonesia.

Keywords: corporate governance, financial performance, islamic banks, listed companies, Indonesia

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Authors: Liyun Chang, Cheng-Hsiang Tsai

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To ensure the radiation precisely delivering to the target of cancer patients, the linear accelerator equipped with the pretreatment on-board imaging system is introduced and through it the patient setup is verified before the daily treatment. New generation radiotherapy using beam-intensity modulation, usually associated the treatment with steep dose gradients, claimed to have achieved both a higher degree of dose conformation in the targets and a further reduction of toxicity in normal tissues. However, this benefit is counterproductive if the beam is delivered imprecisely. To avoid shooting critical organs or normal tissues rather than the target, it is very important to carry out the quality assurance (QA) of this on-board imaging system. The QA of the On-Board Imager® (OBI) system of one Varian Clinac-iX linear accelerator was performed through our procedures modified from a relevant report and AAPM TG142. Two image modalities, 2D radiography and 3D cone-beam computed tomography (CBCT), of the OBI system were examined. The daily and monthly QA was executed for five months in the categories of safety, geometrical accuracy and image quality. A marker phantom and a blade calibration plate were used for the QA of geometrical accuracy, while the Leeds phantom and Catphan 504 phantom were used in the QA of radiographic and CBCT image quality, respectively. The reference images were generated through a GE LightSpeed CT simulator with an ADAC Pinnacle treatment planning system. Finally, the image quality was analyzed via an OsiriX medical imaging system. For the geometrical accuracy test, the average deviations of the OBI isocenter in each direction are less than 0.6 mm with uncertainties less than 0.2 mm, while all the other items have the displacements less than 1 mm. For radiographic image quality, the spatial resolution is 1.6 lp/cm with contrasts less than 2.2%. The spatial resolution, low contrast, and HU homogenous of CBCT are larger than 6 lp/cm, less than 1% and within 20 HU, respectively. All tests are within the criteria, except the HU value of Teflon measured with the full fan mode exceeding the suggested value that could be due to itself high HU value and needed to be rechecked. The OBI system in our facility was then demonstrated to be reliable with stable image quality. The QA of OBI system is really necessary to achieve the best treatment for a patient.

Keywords: CBCT, image quality, quality assurance, OBI

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Authors: Venkataraman Sivasankar, Kiyoshi Omine, Hideaki Sano

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The leaching of fluoride from Plaster Board Waste (PBW) is quite feasible in soil and water environments. The Ministry of Environment, Japan recommended the standard limit of 0.8 mgL⁻¹ or less for fluoride. Although the utilization of PBW as a substitute for cement is rather meritorious, its fluoride leaching behavior deteriorates the quality of soil and water and therefore envisaged as a demerit. In view of this fluoride leaching problem, the present research is focused on immobilizing fluoride in PBW. The immobilization experiments were conducted with four chemical systems operated by DAHP (diammonium hydrogen phosphate) and phosphoric acid carbonization of bamboo mass coupled with certain inorganic reactions using reagents such as calcium hydroxide, sodium hydroxide, and aqueous ammonia. The fluoride immobilization was determined after shaking the reactor contents including the plaster board waste for 24 h at 25˚C. In the DAHP system, the immobilization of fluoride was evident from the leaching of fluoride in the range 0.071-0.12 mgL⁻¹, 0.026-0.14 mgL⁻¹ and 0.068-0.12 mgL⁻¹ for the reaction temperatures at 30˚C, 50˚C, and 90˚C, respectively, with final pH of 6.8. The other chemical systems designated as PACCa, PACAm, and PACNa could immobilize fluoride in PBW, and the resulting solution was analyzed with the fluoride less than the Japanese environmental standard of 0.8 mgL⁻¹. In the case of PACAm and PACCa systems, the calcium concentration was found undetectable and witnessed the formation of phosphate compounds. The immobilization of fluoride was found inversely proportional to the increase in the volume of leaching solvent and dose of PBW. Characterization studies of PBW and the solid after fluoride immobilization was done using FTIR (Fourier transform infrared spectroscopy), Raman spectroscopy, FE-SEM ( Field Emission Scanning Electron Microscopy) with EDAX (Energy Dispersive Spectroscopy), XRD (X-ray diffraction), and XPS (X-ray photoelectron spectroscopy). The results revealed the formation of new calcium phosphate compounds such as apatite, monetite, and hydroxylapatite. The participation of such new compounds in fluoride immobilization seems indispensable through the exchange mechanism of hydroxyl and fluoride groups. Acknowledgment: First author thanks to Japanese Society for the Promotion of Science (JSPS) for the award of the fellowship (ID No. 16544).

Keywords: characterization, fluoride, immobilization, plaster board waste

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Authors: Loubna Tani, Nabih Elouzzani

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Crosstalk among interconnects and printed-circuit board (PCB) traces is a major limiting factor of signal quality in high-speed digital and communication equipments especially when fast data buses are involved. Such a bus is considered as a planar multiconductor transmission line. This paper will demonstrate how the finite difference time domain (FDTD) method provides an exact solution of the transmission-line equations to analyze the near end and the far end crosstalk. In addition, this study makes it possible to analyze the rise time effect on the near and far end voltages of the victim conductor. The paper also discusses a statistical analysis, based upon a set of several simulations. Such analysis leads to a better understanding of the phenomenon and yields useful information.

Keywords: multiconductor transmission line, crosstalk, finite difference time domain (FDTD), printed-circuit board (PCB), rise time, statistical analysis

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Authors: Chih-Lin Chang, Tzu-Ching Weng

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The purpose of this study is to explore the relationship between corporate political ties and independent directors' functions. With reference to the literature variables such as the characteristics of the relevant board of directors in the past, a single comprehensive function indicator is established as a substitute variable for the function of independent directors, and the impact of political connection on the independent board of directors is further discussed. This research takes Taiwan listed enterprises from 2014 to 2020 as the main research object and conducts empirical research through descriptive statistics, correlation and regression analysis. The empirical results show that companies with political connections will have a positive impact on the number of independent directors; political connections also have a significant positive relationship with the functional part of independent directors, which means that because companies have political connections, they have a positive impact on the seats or functions of independent directors. will pay more attention and increase their oversight functions.

Keywords: political, connection, independent, director, function

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Authors: Chul Su Kim, Jun Ku Lee, Won Jun Lee

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The EMU (electric multiple unit) vehicle timer card is a PCB (printed circuit board) for controlling the air-dryer to remove the moisture of the generated air from the air compressor of the braking device. This card is exposed to the lower part of the railway vehicle, so it is greatly affected by the external environment such as temperature and humidity. The main cause of the failure of this timer card is deterioration of soldering area of the PCB surface due to temperature and humidity. Therefore, in the viewpoint of preventive maintenance, it is important to evaluate the reliability of the timer card and predict the replacement cycle to secure the safety of the air braking device is one of the main devices for driving. In this study, the existing and the improved products were evaluated on the reliability through ALT (accelerated life test). In addition, the acceleration factor by the 'Coffin-Manson' equation was obtained, and the remaining lifetime was compared and examined.

Keywords: reliability evaluation, timer card, Printed Circuit Board, Accelerated Life Test

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Authors: Y. Karbhari, A. Benamraoui, A. Fahmi Sheikh Hassan

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The study applies role theory to investigate the quality of the compliance review in Malaysia, which is perceived to have the most advanced Islamic banking governance framework in the Islamic world. Drawing from the questionnaire survey and semi-structured interviews, our study reveals the existence of a well-established structure for compliance reviews which is found to be regulatory driven and contingent upon the level of commercial activity of individual Islamic bank’s. However, the compliance review process was found to be ceremonial and inadequately undertaken by some SBs with greater prominence placed on its advisory role. In particular, the study provides evidence of a lack of understanding on accounting issues when undertaking the compliance review. Problems in communication between SBs, board of directors and management were also reported to exist. Our findings raise concern over the quality and thus the credibility of the religious compliance assurance communicated in Islamic Banks annual reports.

Keywords: Islamic banks, religious compliance, Sharia board assurance, role theory

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Authors: G. Bruno, A. Ciavarella, N. Linciano

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The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions opted for active intervention, which triggered a tangible progress in female representation. In Europe, many countries have implemented boardroom diversity policies in the form of legal quotas (Norway, Italy, France, Germany) or governance code amendments (United Kingdom, Finland). Policy actions rest, among other things, on the assumption that gender balanced boards result in improved corporate governance and performance. The investigation of the relationship between female boardroom representation and firm value is therefore key on policy grounds. The evidence gathered so far, however, has not produced conclusive results also because empirical studies on the impact of voluntary female board representation had to tackle with endogeneity, due to either differences in unobservable characteristics across firms that may affect their gender policies and governance choices, or potential reverse causality. In this paper, we study the relationship between the presence of female directors and corporate performance in Italy, where the Law 120/2011 envisaging mandatory quotas has introduced an exogenous shock in board composition which may enable to overcome reverse causality. Our sample comprises Italian firms listed on the Italian Stock Exchange and the members of their board of directors over the period 2008-2016. The study relies on two different databases, both drawn from CONSOB, referring respectively to directors and companies’ characteristics. On methodological grounds, information on directors is treated at the individual level, by matching each company with its directors every year. This allows identifying all time-invariant, possibly correlated, elements of latent heterogeneity that vary across firms and board members, such as the firm immaterial assets and the directors’ skills and commitment. Moreover, we estimate dynamic panel data specifications, so accommodating non-instantaneous adjustments of firm performance and gender diversity to institutional and economic changes. In all cases, robust inference is carried out taking into account the bidimensional clustering of observations over companies and over directors. The study shows the existence of a U-shaped impact of the percentage of women in the boardroom on profitability, as measured by Return On Equity (ROE) and Return On Assets. Female representation yields a positive impact when it exceeds a certain threshold, ranging between about 18% and 21% of the board members, depending on the specification. Given the average board size, i.e., around ten members over the time period considered, this would imply that a significant effect of gender diversity on corporate performance starts to emerge when at least two women hold a seat. This evidence supports the idea underpinning the critical mass theory, i.e., the hypothesis that women may influence.

Keywords: gender diversity, quotas, firms performance, corporate governance

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Authors: Abdul Kader

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This paper attempts to investigate several contributory factors to recent volatility in the Islamic Banking sector of Bangladesh. In particular, the study explores corporate governance, credit management, credit regulations, inept board of directors, using religious sentiment as a means to deceive general people, and the degree of political interference as potential contributory factors. To find the correlation among different variables, semi-structured questionnaires were distributed among the clients, bank managers, some Banking scholars and ex-members of the board of directors of three Islamic Banks in Bangladesh. Later, ten interviews were collected from key informants to gain in-depth information about the present mismanagement of Islamic Banks in Bangladesh. After then, data were analyzed using statistical software and substantiated by secondary sources like newspapers, reports and investigative reports aired in screen media. The paper found a correlation between almost all contributory factors and recent unstable conditions in the Islamic banking sector. After performing regression analysis, this paper found a more significant relationship between some of the contributory factors with Banking volatility than others. For instance, credit management, inept board of directors, depriving customers of proving no profit in the name of business—no interest-- and political interference have a strong significant positive correlation with the present poor condition of Islamic Banking. This paper concludes that while internal management is important in recovering the losses, the government needs to ensure framing better policy for the Islamic Banking system, Central Bank needs to supervise and monitor all Islamic banks meticulously and loan receivers must go through the impartial evaluation and approved by the representatives of the Central Shariah Board. This paper also recommends that there is a need to strengthen the auditing system and improve regulatory oversight of the Islamic Banks in Bangladesh. Policy recommendations that this paper put forward could provide an outline for dealing with the existing challenging condition of Islamic Banks and these could be applied to similar problems in other countries where the Islamic Banking model exists.

Keywords: Islamic bank, volatility in banking sector, shariah law, credit management, political interference

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Jennifer Martínez Ferrero, Emma García-Meca

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Despite substantial attention to the involvement of women directors in ESG matters, CSR, and sustainability engagement, there is limited understanding regarding the connection between corporate social irresponsibility CSI and the presence of females in leadership roles, including boards. This study contends that gender diversity is inversely correlated with corporate social irresponsibility, primarily due to attributes associated with feminine leadership styles, stakeholder focus, monitoring functions, ethical sensitivity, and risk aversion attitudes. Leveraging a dataset of non-financial European firms, our results offer insights into the effectiveness of gender diversity in preventing corporate social irresponsibility, contingent on women's visibility and legitimacy within the organization, thus supporting both tokenism and critical mass theories. Furthermore, our findings underscore the pivotal role of the institutional context, highlighting that women in board positions are only effective in curbing corporate social irresponsibility in countries where national policies are robust in combating gender inequality.

Keywords: sustainability, board, corporate governance, ESG

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Authors: Hiba El Assibi

Abstract:

This study aims to weakly solve Kalah, a two-player board game, by developing a start-to-finish winning strategy using an optimized Minimax algorithm with Alpha-Beta Pruning. In weakly solving Kalah, our focus is on creating an optimal strategy from the game's beginning rather than analyzing every possible position. The project will explore additional enhancements like symmetry checking and code optimizations to speed up the decision-making process. This approach is expected to give insights into efficient strategy formulation in board games and potentially help create games with a fair distribution of outcomes. Furthermore, this research provides a unique perspective on human versus Artificial Intelligence decision-making in strategic games. By comparing the AI-generated optimal moves with human choices, we can explore how seemingly advantageous moves can, in the long run, be harmful, thereby offering a deeper understanding of strategic thinking and foresight in games. Moreover, this paper discusses the evaluation of our strategy against existing methods, providing insights on performance and computational efficiency. We also discuss the scalability of our approach to the game, considering different board sizes (number of pits and stones) and rules (different variations) and studying how that affects performance and complexity. The findings have potential implications for the development of AI applications in strategic game planning, enhancing our understanding of human cognitive processes in game settings, and offer insights into creating balanced and engaging game experiences.

Keywords: minimax, alpha beta pruning, transposition tables, weakly solving, game theory

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Authors: Athanasios Karasimos, Vasiliki Makri

Abstract:

This research focuses on the design and development of the first text Corpus based on Board Game Rulebooks (BGRC) with direct application on the morphological analysis of neologisms and tendencies in word-formation processes. Corpus linguistics is a dynamic field that examines language through the lens of vast collections of texts. These corpora consist of diverse written and spoken materials, ranging from literature and newspapers to transcripts of everyday conversations. By morphologically analyzing these extensive datasets, morphologists can gain valuable insights into how language functions and evolves, as these extensive datasets can reflect the byproducts of inflection, derivation, blending, clipping, compounding, and neology. This entails scrutinizing how words are created, modified, and combined to convey meaning in a corpus of challenging, creative, and straightforward texts that include rules, examples, tutorials, and tips. Board games teach players how to strategize, consider alternatives, and think flexibly, which are critical elements in language learning. Their rulebooks reflect not only their weight (complexity) but also the language properties of each genre and subgenre of these games. Board games are a captivating realm where strategy, competition, and creativity converge. Beyond the excitement of gameplay, board games also spark the art of word creation. Word games, like Scrabble, Codenames, Bananagrams, Wordcraft, Alice in the Wordland, Once uUpona Time, challenge players to construct words from a pool of letters, thus encouraging linguistic ingenuity and vocabulary expansion. These games foster a love for language, motivating players to unearth obscure words and devise clever combinations. On the other hand, the designers and creators produce rulebooks, where they include their joy of discovering the hidden potential of language, igniting the imagination, and playing with the beauty of words, making these games a delightful fusion of linguistic exploration and leisurely amusement. In this research, more than 150 rulebooks in English from all types of modern board games, either language-independent or language-dependent, are used to create the BGRC. A representative sample of each genre (family, party, worker placement, deckbuilding, dice, and chance games, strategy, eurogames, thematic, role-playing, among others) was selected based on the score from BoardGameGeek, the size of the texts and the level of complexity (weight) of the game. A morphological model with morphological networks, multi-word expressions, and word-creation mechanics based on the complexity of the textual structure, difficulty, and board game category will be presented. In enabling the identification of patterns, trends, and variations in word formation and other morphological processes, this research aspires to make avail of this creative yet strict text genre so as to (a) give invaluable insight into morphological creativity and innovation that (re)shape the lexicon of the English language and (b) test morphological theories. Overall, it is shown that corpus linguistics empowers us to explore the intricate tapestry of language, and morphology in particular, revealing its richness, flexibility, and adaptability in the ever-evolving landscape of human expression.

Keywords: board game rulebooks, corpus design, morphological innovations, neologisms, word-formation processes

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Authors: Syakirin O. Yong, Nasrudin A. Rahim, Bilal M. Eid, Buray Tankut

Abstract:

The aim of this paper is to develop an ultra-fast gate driver for Silicon Carbide (SiC) based switching device applications such as AC/DC DC/AC converters. Wide bandgap semiconductors such as SiC switches are growing rapidly nowadays due to their numerous capabilities such as faster switching, higher power density and higher voltage level. Wide band-gap switches can work properly on high frequencies such 50-250 kHz which is very useful for many power electronic applications such as solar inverters. Increasing the frequency minimizes the output filter size and system complexity however, this causes huge spike between MOSFET’s drain and source leg which leads to the failure of MOSFET if the voltage rating is exceeded. This paper investigates and concludes the optimum design for a gate drive board for SiC MOSFET switches without causing spikes and noises.

Keywords: PV system, lithium-ion, charger, constant current, constant voltage, renewable energy

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Authors: Nititorn Ounpipat

Abstract:

The objective of this study was to find the relationship between internal communication and job satisfaction, and to find out the best communication channel to contact employees for a quality working within the operation or organizational rules. The sample size of 100% who were working as a shop floor level employee in the company. The study used the quantitative research method by distributing a structured questionnaire to collect data from 150 employees as the sample size. Inferential statistics and forward multiple regression analysis were used to analyze the results of this research. The result shows that communication channel correlated with job satisfaction. Each channel has a correlation with the satisfaction of working with the Department Board Information and All Employee / Weekly Meeting Relevance high. Since there is a correlation coefficient equal. 851 and. 840, respectively. Company Board Information, Memo, Letter, Leader, Supervisor, Friends and Email Relevance moderate as well.

Keywords: internal communication channels, job satisfaction, personal feedback, Rayong province

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Authors: Maulana Ayoub Ali

Abstract:

Malayan Pilgrims Savings Corporation was introduced in 1963. Six years later, Malaysian Pilgrims Fund Board (Tabung Haji) was formed. The board used to collect funds from pilgrims who expected to perform pilgrimage in the future dates. Money was collected and kept as per given rules and procedures emanated from Islamic sources of law. Twenty years later, the country was ready to run a fully fledged Islamic bank where the Bank Islam Malaysia Berhad (BIMB) came into existence in the year 1983. This paper investigates stages of development of Islamic banking system in Malaysia from 1983 to date. This study discovered that Malaysia had enough time to make Islamic banking system works alongside conventional banking system and for sure, has successfully managed to come up with the comprehensive and workable financial system which accommodates both the conventional and Islamic banking. As a result, Malaysia stands to be the hub of Islamic banking products and services in the world today.

Keywords: Tabung Haji, Islamic Banks, conventional law, Malaysia

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