Search results for: change portfolio

Authors: Nisa Nur Duman, Sümeyya Kiliç

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In global competition conditions, survival of the plants by obtaining competitive advantage relies on the effective usage of existing sources. By this way, the plants can minimize their costs without losing their quality. They also take advantage took advantage on their competitors and enlarge customer portfolio by increasing profit margins. Changing structure of market and customer demands also change the structure of the competition between companies. Furthermore, competition is not only between the companies. By this manner, supply chain and supply chain management get importance by considering company performances. Companies that want to survive, search the ways of decreasing costs and the ways of meeting customer expectations. One of the important tools for reaching these goals is inventory managemet. The best inventory management system is meeting the demands by considering plant goals.

Keywords: Supply chain, inventory management, apparel sector, garment industry

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Authors: Benjamin Anabaraonye

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Our environment is our entitlement, and it is our duty to guard it for the safety of our society. It is, therefore, in our best interest to explore the necessary tools required to tackle the issues of environmental pollution which are major causes of climate change. Poetry has been discovered through our study as a valuable tool for tackling climate change and environmental pollution. This study explores the science of poetry and how important it is for scientists and engineers to develop their creativity to obtain relevant skills needed to tackle these global challenges. Poetry has been discovered as a great tool for climate change education which in turn brings about climate change adaptation and mitigation. This paper is, therefore, a clarion and urgent call for us to rise to our responsibility for a sustainable future.

Keywords: climate change, education, environment, poetry

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Authors: Osman Yildiz

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As it is predicted 2559 years before there is nothing permanent except change. In our turbulent World, Organizations will always be faced with the challenge of determining the path that will always keep them on balance en route that will bring success. That means from top to bottom, every organisation is exposed to fight to stay afloat and compete while they face the continuous prospect of change in an increasingly competitive and globalized World. Otherwise, they would fail to realize their goals and targets, and ultimately would disappear. But the organizations that will celebrate success five or ten years from now will be the winners of the fight by having recognizing that planning the change was only the first step in the journey and put sufficient efforts into the task of leading change. Increasingly unpredictable and competitive organizational environments have put pressure on leaders across all industries to better manage the change. The key of establishing effective change and transformation in organisations lies on the steps taken before the change happens depending to the quality of the human sources; readiness for change, acknowledgement by management, prepared leaders, motivated employees, overcoming the resistance to change and ultimately adapting change into the organization. Due to these factors, leaders managing the organisational development can ensure organizations and employees to meet new performance targets, motivation and skills rapidly and effectively. Finally, this article will provide some tools for leaders, and discuss how to catch organisational development and manage the innovations in effective ways.

Keywords: managing the change, organizational change, human factor, leaders, globalization, organisational development

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Authors: Yuyang Cheng, Marcos Escobar-Anel

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This paper introduces a multivariate 4/2 stochastic covariance process generalizing the one-dimensional counterparts presented in Grasselli (2017). Our construction permits stochastic correlation not only among stocks but also among volatilities, also known as co-volatility movements, both driven by more convenient 4/2 stochastic structures. The parametrization is flexible enough to separate these types of correlation, permitting their individual study. Conditions for proper changes of measure and closed-form characteristic functions under risk-neutral and historical measures are provided, allowing for applications of the model to risk management and derivative pricing. We apply the model to an expected utility theory problem in incomplete markets. Our analysis leads to closed-form solutions for the optimal allocation and value function. Conditions are provided for well-defined solutions together with a verification theorem. Our numerical analysis highlights and separates the impact of key statistics on equity portfolio decisions, in particular, volatility, correlation, and co-volatility movements, with the latter being the least important in an incomplete market.

Keywords: stochastic covariance process, 4/2 stochastic volatility model, stochastic co-volatility movements, characteristic function, expected utility theory, verication theorem

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Authors: Manoj Parmar

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The article uses reflexivity as a research method to investigate and propose an architectural theory plan for climate change. It hypothecates that to discuss or formulate discourse on "Architectural Thinking in a Time of Climate Emergency," firstly, we need to understand the modes of integration that enable architectural thinking with climate change. The study intends to study the various integration modes that have evolved historically and situate them in time. Subsequently, it analyses the integration pattern, challenges the existing model, and finds a way towards climate change as central to architectural thinking. The study is fundamental on-premises that ecology and climate change scholarship has consistently out lashed the asymmetrical and nonlinear knowledge and needs approaches for architecture that are less burden to climate change to people and minimize its impact on ecology.

Keywords: climate change, architectural theory, reflexivity, modernity

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Authors: David Idiata

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This paper is directed at using the UKCP09 climate change projection tool to predict the effect of climate change on the dynamic modulus of asphalt concrete is Southern England knowing that there is a pressing challenge directly facing infrastructure in the urban cities in the world today due to climate change. Climate change causes change in the environment which in turn impacts on the long-term structural performance of structures. From the projection values obtained, it was discovered that as the temperature increases, the dynamic modulus reduces and this effect was more on the South West which have temperature range of 36.8 oC to 48.3 oC and dynamic modulus range of 2,212 MPa to 1256 MPa.

Keywords: dynamic modulus, asphalt concrete, UKCP09, Southern England

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Authors: Maureen Royce, Joshi Jariwala, Sally Kah

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Change is inevitable, but the change process is progressive. Organisational change is the process in which an organisation changes strategies, operational methods, systems, culture, and structure to affect something different in the organisation. This process can be continuous or developed over a period and driven by internal and external factors. Organisational change is essential if organisations are to survive in dynamic and uncertain environments. However, evidence from research shows that many change initiatives fail, leading to severe consequences for organisations and their resources. The complex models of third sector organisations, i.e., social enterprise, compounds the levels of change in these organisations. Interestingly, innovation is associated with a change in social enterprises due to the hybridity of product and service development. Furthermore, the creation of social intervention has offered a new process and outcomes to the lifecycle of change. Therefore, different forms of organisational innovation are developed, i.e., total, evolutionary, expansionary, and developmental, which affect the interventions of social enterprises. This raises both theoretical and business concerns on how the competing hybrid nature of social enterprises change, how change is managed, and the impact on these organisations. These perspectives present critical questions for further investigation. In this study, we investigate the impact of organisational change on employees and organisational development at DaDaFest –a disability arts organisation with a social focus based in Liverpool. The three main objectives are to explore the drivers of change and the implementation process; to examine the impact of organisational change on employees and; to identify barriers to organisation change and development. To address the preceding research objectives, qualitative research design is adopted using semi-structured interviews. Data is analysed using a six-step thematic analysis framework, which enables the study to develop themes depicting the impact of change on employees and organisational development. This study presents theoretical and practical contributions for academics and practitioners. The knowledge contributions encapsulate the evolution of change and the change cycle in a social enterprise. However, practical implications provide critical insights into the change management process and the impact of change on employees and organisational development.

Keywords: organisational change, change management, organisational change system, social enterprise

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Authors: Felicia Kikelomo Oluwalola

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The study was designed to identify the challenges to change and innovation in educational system in Nigeria. Educational institutions, like all other organizations, require constant monitoring, to identify areas for potential improvement. However, educational reforms are often not well-implemented. This results in massive wastage of finances, human resources, and lost potential. Educational institutions are organised on many levels, from the individual classroom under the management of a single teacher, to groups of classrooms supervised by a Head Teacher or Executive Teacher, to a whole-school structure, under the guidance of the principal. Therefore, there is need for changes and innovation in our educational system since we are in the era of computer age. In doing so, this paper examined the psychology of change, concept of change and innovation with suggested view points. Educational administrators and individuals should be ready to have the challenge of monitoring changes in technologies. Educational planners/policy makers should be encouraged to involve in change process.

Keywords: challenges, change, education, innovation

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Authors: Mohamed Haffar, Lois Farquharson, Gbola Gbadamosi, Wafi Al-Karaghouli, Ramadane Djbarni

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A few recent research studies and mostly conceptual in nature have paid attention to the relationship between organizational culture (OC), individual readiness for change (IRFC) and individual affective commitment to change (IACC). Surprisingly enough, there is a lack of empirical studies investigating the influence of all four OC types on IRFC and IACC. Moreover, there is a very limited research investigating the mediating role of individual readiness for change between OC types and individual affective commitment to change. Therefore, this study is proposed to fill this gap by providing empirical evidence leading to advancement in the understanding of direct and indirect influences of OC on individual affective commitment to change. To achieve this, a questionnaire based survey was developed and self-administered to 226 middle managers in Algerian manufacturing organizations (AMOs). The results of this study indicated that group culture and adhocracy culture positively affect the IACC. Furthermore, the findings of this study show support for the mediating roles of self-efficacy and personally valence in the relationship between OC and IACC.

Keywords: individual readiness for change, individual commitment to change, organisational culture, manufacturing organisations

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Authors: Mohammed Alassim

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In 2014, a UN survey stated that: "The greatest challenge to the adoption of whole-of government, which fundamentally rests on increased collaboration, is resistance to change among government actors". Change management has experienced both theoretically and practically many transformation over the years. When organizations have to implement radical changes, they have to encounter a plethora of issues which leads to ineffective or inefficient implementation of change in most cases. 70% of change projects fail because of human issues. It has been cited that” most studies still show a 60-70% failure rate for organizational change projects — a statistic that has stayed constant from the 1970’s to the present.”. E-government involves not just technical change but cultural, policy, social and organizational evolution. Managing change and overcoming resistance to change is seen as crucial in the success of E-government projects. Resistance can be from different levels in the organization (top management, middle management or employees at operational levels). There can be many reasons for resistance including fear of change and insecurity, lack of knowledge and absence of commitment from management to implement the change. The purpose of this study is to conduct in-depth research to understand the process of change and to identify the critical factors that have led to resistance from employees at different levels (top management, Middle management and operational employees) during e-government initiatives in the public sector in Saudi Arabia. The study is based on qualitative and empirical research methods conducted in the public sector in the Kingdom of Saudi Arabia. This research will use triangulation in data method (interview, group discussion and document review). This research will contribute significantly to knowledge in this field and will identify the measures that can be taken to reduce resistance to change, Upon analysis recommendations or model will be offered which can enable decision makers in public sector in Saudi Arabia how to plan, implement and evaluate change in e-government initiatives via change management strategy.

Keywords: change management, e-government, managing change, resistance to change

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Authors: F. A. Al-Awadhi, D. Al-Hulail

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In this study, we applied the Bayesian hierarchical model to detect single and multiple change points for daily earthquake body wave magnitude. The change point analysis is used in both backward (off-line) and forward (on-line) statistical research. In this study, it is used with the backward approach. Different types of change parameters are considered (mean, variance or both). The posterior model and the conditional distributions for single and multiple change points are derived and implemented using BUGS software. The model is applicable for any set of data. The sensitivity of the model is tested using different prior and likelihood functions. Using Mb data, we concluded that during January 2002 and December 2003, three changes occurred in the mean magnitude of Mb in Kuwait and its vicinity.

Keywords: multiple change points, Markov Chain Monte Carlo, earthquake magnitude, hierarchical Bayesian mode

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Authors: Yan Fang, Jie Yin, Bihu Wu

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The interaction between climate change and tourism is one of the most promising research areas of recent decades. In this paper, a scientometric analysis of 976 academic publications between 1990 and 2015 related to climate change and tourism is presented in order to characterize the intellectual landscape by identifying and visualizing the evolution of the collaboration network, the co-citation network, and emerging trends of citation burst and keyword co-occurrence. The results show that the number of publications in this field has increased rapidly and it has become an interdisciplinary and multidisciplinary topic. The research areas are dominated by Australia, USA, Canada, New Zealand, and European countries, which have the most productive authors and institutions. The hot topics of climate change and tourism research in recent years are further identified, including the consequences of climate change for tourism, necessary adaptations, the vulnerability of the tourism industry, tourist behaviour and demand in response to climate change, and emission reductions in the tourism sector. The work includes an in-depth analysis of a major forum of climate change and tourism to help readers to better understand global trends in this field in the past 25 years.

Keywords: climate change, tourism, scientometrics, CiteSpace

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Authors: Preeyaphorn Kosa, Thanutch Sukwimolseree

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The climate change is a main parameter which affects the element of hydrological cycle especially runoff. Then, the purpose of this study is to determine the impact of the climate change on surface runoff using land use map on 2008 and daily weather data during January 1, 1979 to September 30, 2010 for SWAT model. SWAT continuously simulate time model and operates on a daily time step at basin scale. The results present that the effect of temperature change cannot be clearly presented on the change of runoff while the rainfall, relative humidity and evaporation are the parameters for the considering of runoff change. If there are the increasing of rainfall and relative humidity, there is also the increasing of runoff. On the other hand, if there is the increasing of evaporation, there is the decreasing of runoff.

Keywords: climate, runoff, SWAT, upper Mun River basin

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Authors: Periklis Brakatsoulas

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Recent empirical research shows a growing interest in investment decision-making under market anomalies that contradict the rational paradigm. Momentum is undoubtedly one of the most robust anomalies in the empirical asset pricing research and remains surprisingly lucrative ever since first documented. Although predominantly phenomena identified across equities, momentum premia are now evident across various asset classes. Yet few many attempts are made so far to provide traders a diversified portfolio of strategies across different assets and markets. Moreover, literature focuses on patterns from past returns rather than mechanisms to signal future price directions prior to momentum runs. The aim of this paper is to develop a diversified portfolio approach to price distortion signals using daily position data on stocks, credit derivatives, and bonds. An algorithm allocates assets periodically, and new investment tactics take over upon price momentum signals and across different ranking groups. We focus on momentum life cycles, trend reversals, and price acceleration signals. The main effort here concentrates on the density, time span and maturity of momentum phenomena to identify consistent patterns over time and measure the predictive power of buy-sell signals generated by these anomalies. To tackle this, we propose a two-stage modelling process. First, we generate forecasts on core macroeconomic drivers. Secondly, satellite models generate market risk forecasts using the core driver projections generated at the first stage as input. Moreover, using a combination of the ARFIMA and FIGARCH models, we examine the dependence of consecutive observations across time and portfolio assets since long memory behavior in volatilities of one market appears to trigger persistent volatility patterns across other markets. We believe that this is the first work that employs evidence of volatility transmissions among derivatives, equities, and bonds to identify momentum life cycle patterns.

Keywords: forecasting, long memory, momentum, returns

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Authors: Shekh Shadi Rahaman

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In Bangladesh, basic human rights more specifically right to food and right to shelter are being adversely affected by the consequences of climate change. Over the last two decades, a considerable number of environmental studies revealed that basic human rights, more specifically, the right to food and right to a shelter are going to be seriously affected by climate change. Agriculture, forestry, and fisheries and livestock, which are most sensitive to climate change, are key sources interconnected with food security and the security of shelter. Consequences of climate change affecting these key sources, and with the change of time, climate change is turning into a gigantic challenge towards ensuring basic human rights in Bangladesh. This study was carried out by employing a general review of literature on climate change, focusing on effects of climate change on basic two major human rights in Bangladesh. Upon analysis of existing researches, it is found very few researches focused on correlating climate change and right to food and right to shelter. This study shows how the consequences of climate change affects food production and abode of people of Bangladesh. This study recommends that tree plantation, floating agricultural practice, co-operation with international organization, developing environment friendly institutions, increased use of renewable energy, proper management of wetlands and forests, shelter for climate induced migrated people, encouraging research and public awareness are key issues to be followed for combating climate change and protecting basic human right to food and shelter.

Keywords: achievements, agriculture and forestry, fisheries and livestock, renewable energy

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Authors: C. Akhras

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Change is the life blood of business. Dynamic factors inspire change yet may act as barriers, influencing the company’s position in the market and challenging its organizational mission and culture. Today, the business context has globalized with business enterprises in the North and South joint in mergers and the East forges a strategic alliance with the West. Moreover, given that very little remains stable in certain industries, national business goals in the millennial marketplaces might be rapid, accelerated, and differentiated growth while distinctive competitive advantage might mark new qualitative excellence in others. In a new age culture marked by change, organizations, leaders, and followers are impacted; indigenous business leaders seem to have a very important role to play in change management. This case study was carried out on 178 business employees employed in local industry to evaluate perceptions of indigenous business leadership, workplace assessment, and organizational change management in the Middle East and North Africa. Three research questions were posed: (1) In your work context, do you think business leaders are essentially changing agents? (2) In your work context, is workplace change more effective in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? (3) In your work context, is workplace change more efficient in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? The results of the study and its limitations imposed by time and space indicate that more comprehensive research is required in this area.

Keywords: catalyst, change management, business enterprise, workplace assessment

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Authors: Neelam Kadyan

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Global environmental change is happening at an alarming rate in the present world. Floods, Tsunamis’, Avalanches, Change in Weather patterns, Rise in sea temperature, Landslides, are only few evidences of this change. To regulate such alarming growth of global change in environment certain regulatory system or mechanism is required. Nuisance,negligence,absolute liability,strict liability and trespass are some of the effective common law principles which are helpful in environmental problems. What we need today is sufficient law and adequate machinery to enforce the legal standards. Without law environmental standards cannot be enforced and once again there is need to adopt the common law approach in solving the problem of environmental change as through this approach the affected person can get compensation and as the same time it puts check on wrongdoer.

Keywords: global environmental problems, nuisance, negligence, trespass, strict liability, absolute liability

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Authors: Edson Vengesai

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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

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Authors: Petar Dobrev

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There is no agreed-upon definition of firm quality. While profitability and stock performance often qualify as popular proxies of quality, in this project, we aim to identify quality without relying on a firm’s financial statements or stock returns as selection criteria. Instead, we use firm-level data on management practices across small to medium-sized U.S. manufacturing firms from the World Management Survey (WMS) to measure firm quality. Each firm in the WMS dataset is assigned a mean management score from 0 to 5, with higher scores identifying better-managed firms. This management score serves as our proxy for firm quality and is the sole criteria we use to separate firms into portfolios comprised of high-quality and low-quality firms. We define high-quality (low-quality) firms as those firms with a management score of one standard deviation above (below) the mean. To study whether this proxy for firm quality can identify better-performing firms, we link this data to Compustat and The Center for Research in Security Prices (CRSP) to obtain firm-level data on financial performance and monthly stock returns, respectively. We find that from 1999 to 2019 (our sample data period), firms in the high-quality portfolio are consistently more profitable — higher operating profitability and return on equity compared to low-quality firms. In addition, high-quality firms also exhibit a lower risk of bankruptcy — a higher Altman Z-score. Next, we test whether the stocks of the firms in the high-quality portfolio earn superior risk-adjusted excess returns. We regress the monthly excess returns on each portfolio on the Fama-French 3-factor, 4-factor, and 5-factor models, the betting-against-beta factor, and the quality-minus-junk factor. We find no statistically significant differences in excess returns between both portfolios, suggesting that stocks of high-quality (well managed) firms do not earn superior risk-adjusted returns compared to low-quality (poorly managed) firms. In short, our proxy for firm quality, the WMS management score, can identify firms with superior financial performance (higher profitability and reduced risk of bankruptcy). However, our management proxy cannot identify stocks that earn superior risk-adjusted returns, suggesting no statistically significant relationship between managerial quality and stock performance.

Keywords: excess stock returns, management, profitability, quality

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Authors: Emmanuel Bintaayi Jeil, Kabila Abass, David Forkuor, Divine Odame Appiah

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In Ghana, the nature and trends of climate change-related research are not clear. This study synthesises various research evidence on climate change published in Ghana between 1999 and 2018. Data for the review was gathered using a set of search words performed in Google Scholar, Web of Science, ProQuest, and ScienceDirect following scoping review guidelines stipulated by the Joanna Briggs Institute. Data were analysed using a scoping review. A total of 114 eligible articles were identified and included in the synthesis. Findings revealed that research on climate change in Ghana is growing steadily, and most of the studies were conducted in 2018. Trends in climate change research in Ghana relate to agriculture and development. There is a lack of attention on climate change issues related to women, water availability and management, and health. Future research should therefore focus on addressing these issues in addition to alternative livelihoods for vulnerable people.

Keywords: scoping review, trends, climate change, research, Ghana

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Authors: Cynthia E. Nwobodo, A. E. Agwu

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The study was carried out in Benue State, Nigeria. Multi-stage sampling technique was used to select 120 respondents from two agricultural zones in the State. Data was collected using interview schedule. Descriptive statistics was used in data analysis. Findings showed that youth farmers in the area had positive attitude to climate change adaptation and mitigation as shown by their response to a set of positive and negative statement including: the youth are very important stakeholders in climate change issues (M= 2.91), youths should be encouraged to be climate change conscious (2.90), everybody should be involved in planting trees not just the government (M= 2.89), I will be glad to participate in climate change seminars (M= 2.89) among others. Findings on information seeking behavior indicate that majority (80.8 %) of the respondents sought climate change information from radio at an average of 19.78 times per month, 53.3 % sought from friends and neighbours at an average of 12.55 times per month and 42.5 % sought from family members at an average of 12.55 times per month among others. It was recommended that Youth farmers should be made important stakeholders in climate change policies and programmes since they have a very positive attitude to climate change adaptation and mitigation.

Keywords: adaptation, mitigation, attitude, climate change, youth farmers

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Authors: Sandani Muthukumarana, Pavithra Rathnasiri

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Climate change is one of the greatest challenges our generation faces, but by embracing biotechnology, we can turn this challenge into an opportunity to grow the economy. Biotechnology provides the sector with a range of solutions that help mitigate the effects of global warming. However, research efforts on investigating the potential and challenges for further utilization of biotechnology to mitigate climate change impacts are still lacking. To address this issue, existing context over the use of biotechnology for climate change mitigation, potential applications, practices being used, and challenges that exist need to be investigated to provide a broader understanding for future researchers and practitioners. This paper, therefore, reviews the existing literature addressing these perspectives to facilitate the application of biotechnology in mitigating hazards arising from climate change.

Keywords: climate change, impacts, biotechnology, solutions

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Authors: Josip Arneric, Blanka Skrabic Peric

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Forecasting of volatility, i.e. returns fluctuations, has been a topic of interest to portfolio managers, option traders and market makers in order to get higher profits or less risky positions. Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most common used models are GARCH type models. As standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance, it is difficult the predict volatility using standard GARCH models. Due to practical limitations of these models different approaches have been proposed in the literature, based on Markov switching models. In such situations models in which the parameters are allowed to change over time are more appropriate because they allow some part of the model to depend on the state of the economy. The empirical analysis demonstrates that Markov switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility for selected emerging markets.

Keywords: emerging markets, Markov switching, GARCH model, transition probabilities

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Authors: Jane O. Munonye

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Climate change has both negative and positive effects in agricultural production. For agriculture to be sustainable in adverse climate change condition, some natural measures are needed. The issue is to produce more food with available natural resources and reduce the contribution of agriculture to climate change. The study reviewed climate change and sustainable agriculture in southeast Nigeria. Data from the study were from secondary sources. Ten scientific papers were consulted and data for the review were collected from three. The objectives of the paper were as follows: to review the effect of climate change on one major arable crop in southeast Nigeria (yam; Dioscorea rotundata); evident of climate change impact and methods for sustainable agricultural production in adverse weather condition. Some climatic parameter as sunshine, relative humidity and rainfall have negative relationship with yam production and significant at 10% probability. Crop production was predicted to decline by 25% per hectare by 2060 while livestock production has increased the incidence of diseases and pathogens as the major effect to agriculture. Methods for sustainable agriculture and damage of natural resources by climate change were highlighted. Agriculture needs to be transformed as climate changes to enable the sector to be sustainable. There should be a policy in place to facilitate the integration of sustainability in Nigeria agriculture.

Keywords: agriculture, climate change, sustainability, yam

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Authors: Nour Wehbe

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The Lebanese electricity sector is at the heart of a deep crisis. Electricity in Lebanon is supplied by Électricité du Liban (EdL) which has to suffer from technical and financial deficiencies for decades and proved to be insufficient and deficient as the demand still exceeds the supply. As a result, backup generation is widespread throughout Lebanon. The sector costs massive government resources and, on top of it, consumers pay massive additional amounts for satisfying their electrical needs. While the developed countries have been investing in renewable energy for the past two decades, the Lebanese government realizes the importance of adopting such energy sourcing strategies for the upgrade of the electricity sector in the country. The diversification of the national electricity generation mix has increased considerably in Lebanon's energy planning agenda, especially that a detailed review of the energy potential in Lebanon has revealed a great potential of solar and wind energy resources, a considerable potential of biomass resource, and an important hydraulic potential in Lebanon. This paper presents a review of the energy status of Lebanon, and illustrates a detailed review of the EDL structure with the existing problems and recommended solutions. In addition, scenarios reflecting implementation of policy projects are presented, and conclusions are drawn on the usefulness of a proposed evaluation methodology and the effectiveness of the adopted new energy policy for the electrical sector in Lebanon.

Keywords: EdL Electricite du Liban, portfolio optimization, electricity generation mix, mean-variance approach

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Authors: Benjamin Anabaraonye, Okafor Joachim Chukwuma, Olamire James

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The impacts of climate change are greatly felt on Nigeria’s agricultural sector which in turn affects the economy of the nation. There is an urgent need to educate farmers and fishermen in rural areas in Nigeria on climate change adaptation and mitigation for sustainable development. Through our literature and participant observation, it has been discovered that many farmers and fishermen in rural areas in Nigeria have little or no knowledge about climate change adaptation and mitigation. This paper seeks to draw the attention of policy makers in government, private sectors, non-governmental organizations and interested individuals to the need to seek for innovative ways of educating farmers and fishermen in rural areas about climate change adaptation and mitigation for global sustainability. This study also explores the effective methods of bridging the communication gaps through efficient information dissemination, intensive awareness outreach, use of climate change poems and blogs, innovative loan scheme to farmers and fishermen, etc. to help ensure that farmers and fishermen in rural areas in Nigeria are adequately educated about climate change adaptation and mitigation for global sustainability.

Keywords: agriculture, climate change, farmers, fishermen

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Authors: Farhad Asadi, Mohammad Javad Mollakazemi

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In this paper, Bayesian online inference in models of data series are constructed by change-points algorithm, which separated the observed time series into independent series and study the change and variation of the regime of the data with related statistical characteristics. variation of statistical characteristics of time series data often represent separated phenomena in the some dynamical system, like a change in state of brain dynamical reflected in EEG signal data measurement or a change in important regime of data in many dynamical system. In this paper, prediction algorithm for studying change point location in some time series data is simulated. It is verified that pattern of proposed distribution of data has important factor on simpler and smother fluctuation of hazard rate parameter and also for better identification of change point locations. Finally, the conditions of how the time series distribution effect on factors in this approach are explained and validated with different time series databases for some dynamical system.

Keywords: time series, fluctuation in statistical characteristics, optimal learning, change-point algorithm

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Authors: Tuisem Shimrah

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One general agreement on climate change is that its causes may be local but the effects are global. Indigenous people are subscribed to “low-carbon” traditional ways of life and as such they have contributed little to causes of climate change. On the contrary they are the most adversely affected by climate change due to their dependence on surrounding rich biological wealth as a source of their livelihood, health care, entertainment and cultural activities This paper deals with the results of the investigation of various adaptation strategies adopted to combat climate change by traditional community. The result shows effective ways of application of traditional knowledge and wisdom applied by Tangkhul traditional community at local and community level in remote areas in Northeast India. Four adaptation measures are being presented in this paper.

Keywords: adaptation, climate change, Northeast India, Tangkhul, traditional community

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Authors: Lan Du, Yan Wang, Hui Dai

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Synthetic aperture radar (SAR) image change detection has recently become a challenging problem owing to the existence of speckle noises. In this paper, an unsupervised distribution-free change detection for SAR image based on scale-invariant feature transform (SIFT) keypoints and segmentation is proposed. Firstly, the noise-robust SIFT keypoints which reveal the blob-like structures in an image are extracted in the log-ratio image to reduce the detection range. Then, different from the traditional change detection which directly obtains the change-detection map from the difference image, segmentation is made around the extracted keypoints in the two original multitemporal SAR images to obtain accurate changed region. At last, the change-detection map is generated by comparing the two segmentations. Experimental results on the real SAR image dataset demonstrate the effectiveness of the proposed method.

Keywords: change detection, Synthetic Aperture Radar (SAR), Scale-Invariant Feature Transformation (SIFT), segmentation

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Authors: Olivier Mesly

Abstract:

This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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