Search results for: contemporary art market

Authors: Yiyan Wu

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In the past several decades, the market transition in China has brought in not only more opportunities for women in the labor market but also more attention to gender inequality in workplace. Although some pieces of literature have mentioned gender inequality and segregation at workplace in China, the paper looks into the variations of gender inequality and segregation: working women have little feeling about 'hierarchical inequalities', which define the status and position of women at the workplace. However, at the same time, they unconsciously reinforced 'horizontal inequalities', which creates gender segregation across occupations and job titles. Using qualitative interviews with women employers and employees of various occupations and job titles in Eastern and Southern China, this paper finds evidence that working women's understandings of the division of labor based on the characteristics and expectations of women and men are not as a result of rationality and efficiency, but instead, are the products of gendered stereotypes and traditions. However, holding positive views of gender equality at workplace, working women are not aware of the existence and influence of such gendered stereotypes and traditions. By distinguishing the concepts of 'horizontal inequality' and 'hierarchical inequality' with a cultural sociological approach, this paper contributes to the understanding of gender inequality and segregation in contemporary Chinese society. Moreover, this paper explains the logic behind the paradox in which gender inequality and segregation at workplace persist while women are feeling equal.

Keywords: gender equality, segregation, hierarchical inequality, horizontal inequality, China

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Authors: Marwa Sahnoun, Chokri Abdennadher

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This article comes, very timely, to look at the effectiveness of active labor market policies (ALMP) in improving labor market outcomes. Using panel data estimates for 19 European countries during the period 2000-2012, this article showed the role of institutional factors, especially the role of employment policies implementation based on three variables: the allocation of resources for the implementation of policies, continuity and timing in the implementation of policies to capture their effectiveness on the labor market. Empirical results shows favor effect of training, employment incentives, sheltered employment and rehabilitation and direct job creation on the entire population employment growth. Results shows also that start-up incentives seems to be more effective in increasing employment than other types of policies. Importantly, two aspects are important in terms of implementation: public expenditure on program administration, e.g. (PES) watches the most favorable aspect and the continuity of policies implemented.

Keywords: active labor market policies, implementation, public expenditure on program administration, start-up incentives, training

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Authors: Linda Kauškale, Ineta Geipele

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Due to the rapidly changing external environment, portfolio management strategies became closely interconnected with real estate industry development and macroeconomic development tendencies. The aim of the research is to analyze sustainable real estate market development influencing factors, with particular focus on its economic and management aspects that influences real estate investment decisions as well. Scientific literature and article analysis, data analysis, expert evaluation, and other quantitative and qualitative research methods were used in the research. Developed real estate market sustainability model and index analysis approach can be applied by investors and real estate companies in real estate asset management and can help in risk minimization activities in international entrepreneurship. Future research directions have been identified in the research as well.

Keywords: indexes, investment decisions, real estate market, sustainability

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Authors: Małgorzata Anna Karczmarzyk

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Who is the contemporary child? What are his/her distinctive features making him/her different from earlier generations? And how to teach in the dissimilar social reality? These questions will constitute the key to my reflections on contemporary early school education. For, to my mind, games have become highly significant for the modern model of education. There arise publications and research employing games to increase competence both in business, tutoring, or coaching, as well as in academic education . Thanks to games students and subordinates can be taught such abilities as problem thinking, creativity, consistent fulfillment of goals, resourcefulness and skills of communication.

Keywords: games, art, children, school education, integration

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Authors: Tariq Aziz, Suresh Kumar, Vikesh Kumar, Sheraz Mustafa, Jhanzeb Marwat

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The paper provides an updated version of volatility spillover among the equity markets of South Asian countries, including Pakistan, India, Srilanka, and Bangladesh. The analysis uses both symmetric and asymmetric Generalized Autoregressive Conditional Heteroscedasticity models to investigate volatility persistence and leverage effect. The bivariate EGARCH model is used to test for volatility transmission between two equity markets. Weekly data for the period February 2013 to August 2019 is used for empirical analysis. The findings indicate that the leverage effect exists in the equity markets of all the countries except Bangladesh. The volatility spillover from the equity market of Bangladesh to all other countries is negative and significant whereas the volatility of the equity market of Sri-Lanka does influence the volatility of any other country’s equity market. Indian equity market influence only the volatility of the Sri-Lankan equity market; and there is bidirectional volatility spillover between the equity markets of Pakistan and Bangladesh. The findings are important for policy-makers and international investors.

Keywords: volatility spillover, volatility persistence, garch, egarch

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Authors: Ioannis P. Panapakidis, Marios N. Moschakis

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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: deregulated energy market, forecasting, machine learning, system marginal price

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Authors: Seyedeh Afsoon Mohseni

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The importance of the approach to the poverty definition is revealed regarding to it’s effect on the nature of planning poverty alleviation programs. This research employs the capability deprivation approach to alleviate rural poverty and seeks to develop herb’s market to alleviate capability poverty with an NGO’s intervene, Komak charity foundation. This research has employed qualitative approach; the data were collected through field observations, review of documents and interviews. Subsequently they were analyses by thematic analysis method. According to the findings, Komak charity can provide the least sustenance of the rural poor and alleviate capability poverty emergence through Herb’s market development of the village. Employing the themes, the market development is planned in two phases of empirical production and product development. Komak charity can intervene as a facilitator by providing micro credits, cooperative and supervising. Furthermore, planning on education and raising participation are prerequisites for the efficiency of the plan.

Keywords: capability poverty, Herb's market development, NGO, Komak charity foundation

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Authors: Rade M. Ciric

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The paper shows the development and implementation of the syllabus of the subject 'Distribution and Industrial Networks', attended by the vocational specialist Year 4 students of the Electric Power Engineering study programme at the Higher Education Technical School of Vocational Studies in Novi Sad. The aim of the subject is to equip students with the knowledge necessary for planning, exploitation and management of distributive and industrial electric power networks in an open electricity market environment. The results of the evaluation of educational outcomes on the subject are presented and discussed.

Keywords: engineering education, power distribution network, syllabus implementation, outcome evaluation

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Authors: Reinhard Neck, Guido Schäfer

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In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependence and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse side-effects on any macroeconomic target variable.

Keywords: macroeconomics, European Union, simulation, sensitivity analysis

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Authors: Mo-Se Lee, Cheol-Hwi Ahn, Kee-Young Kwahk, Hyunchul Ahn

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Over the past decade, deep learning has been in spotlight among various machine learning algorithms. In particular, CNN (Convolutional Neural Network), which is known as effective solution for recognizing and classifying images, has been popularly applied to classification and prediction problems in various fields. In this study, we try to apply CNN to stock market prediction, one of the most challenging tasks in the machine learning research. In specific, we propose to apply CNN as the binary classifier that predicts stock market direction (up or down) by using a graph as its input. That is, our proposal is to build a machine learning algorithm that mimics a person who looks at the graph and predicts whether the trend will go up or down. Our proposed model consists of four steps. In the first step, it divides the dataset into 5 days, 10 days, 15 days, and 20 days. And then, it creates graphs for each interval in step 2. In the next step, CNN classifiers are trained using the graphs generated in the previous step. In step 4, it optimizes the hyper parameters of the trained model by using the validation dataset. To validate our model, we will apply it to the prediction of KOSPI200 for 1,986 days in eight years (from 2009 to 2016). The experimental dataset will include 14 technical indicators such as CCI, Momentum, ROC and daily closing price of KOSPI200 of Korean stock market.

Keywords: convolutional neural network, deep learning, Korean stock market, stock market prediction

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Authors: Zilin Zhang

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Agent-based simulation has become a popular method of exploring the behavior of all kinds of urban systems. The city clearly is viewed as such a system. Many urban evolution processes, such as the development or the transaction of a piece of land, can be modeled with a set of rules. Such modeling approaches can be used to gain insight into urban-development and land market transactions in the real world. Our work contributes to such type of research by modeling the transactions of lands in a city and its surrounding suburbs. By replicating the demand and supply needs in the land market, we are able to demonstrate the different transaction patterns in three types of residential areas - downtown, city-suburban, and further suburban areas. In addition, we are also able to compare the vital roles of different activation conditions play in generating the various transaction patterns of the land market at the macro level. We use this simulation to loosely test our hypotheses about the nature of activation regimes by the replication of the Zi traders’ model. In the end, we hope our analytical results can be useful for city planners and policymakers to develop rational city plans and policies for shaping sustainable urban development.

Keywords: simulation, agent-based modeling, housing market, city

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Authors: Petra Buzkova, Milos Kopa

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Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

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Authors: Mohammed Ibrahim Girei

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Adamawa state is one the major producers of both crop and animals in Nigeria. Agricultural production serves as the major means livelihood of the people in the state. However, the agricultural activities of the farmers in the state are at subsistence level. However integration of these small scale farmers in local, national and international market is paramount importance. The paper was designed to categorize farmers based on market participation among the cattle farmers in Adamawa state, Nigeria. The multistage sampling procedure was employed. To achieve this procedure, structured questionnaires were used to collect data from 400 respondents. The data were analyzed using the descriptive statistics. The result revealed that the majority of market participants were net sellers (78.51 %) (Sales greater than purchase), net buyers were (purchase greater than sales) 12.95 % and only 9% were autarkic (sales equal purchase). The study recommends that Government should provide more effective security services in cattle farming communities, which is very important as the market participants in the study area were net sellers (producers), it will help in addressing the problem of cattle rustling and promote more investment in cattle industry. There is a need to establish a standard cattle market, veterinary services and grazing reserves in the area so that to facilitate the cattle production and marketing system in the area and to meet up with the challenging of livestock development as a result of rapid human population growth in developing countries like Nigeria.

Keywords: categories, cattle, farmers, market, participation

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers

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Authors: Ahmed S. Attia

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This paper includes a study of modern sustainable architectural techniques and elements that are originally found in vernacular and traditional architecture, particularly in the Arab region. Courtyards, Wind Catchers, and Mashrabiya, for example, are elements that have been developed in contemporary architecture using modern technology to create sustainable architecture designs. An analytical study of the topic will deal with some examples of the Islamic House in Fatimid Cairo city in Egypt, analyzing its elements and their relationship to the environment, in addition to the examples in southern Egypt (Nubba) of sustainable architecture systems, and traditional houses in Sana'a city, Yemen, using earth resources of mud bricks and other construction materials. In conclusion, a comparative study between traditional and contemporary techniques will be conducted to confirm that it is possible to achieve sustainable architecture through the use of low-technology in buildings in Arab regions.

Keywords: Islamic context, cultural environment, natural environment, Islamic house, low-technology, mud brick, vernacular and traditional architecture

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Authors: Tahmina Akhter

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In the present work, we make a study of the repercussions of the pandemic generated by Covid-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze takes into account information from all continents as possible. Particularly in the US, Europe and China where the Covid-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, a risk has been generated, the investment of this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics, pandemic

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Authors: Ibrahim Malik, M. Ikramullah al Kambuna

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Today the crisis of understanding in Islamic values has been extended to the architectural design. The majority of Muslim Architects when they designed Islamic Architectural building always stuck in cultural symbols, forms of facade, carvings calligraphy, and all of things which intimately associated with middle eastern culture. As well as the interpretation of symbols form, by designing a dome in every mosque, calligraphy carving in the interior of the mosque, and the other elements in the building which interpreted to the middle east culture. So here there are problems in understanding the meaning of Islam with Kaffah (overall), which appeared a distortion of understanding to distinguish between cultural and theological values in a design. This paper will try to evaluate the design of a contemporary mosque in Indonesia, with case studies in Jogokariyan Mosque Yogyakarta Indonesia. The building evaluation are focused in building function , aesthetic, comfort, and security. And finally from this research should be found the results of the integrated design evaluation of a contemporary mosque which based on the study of the Quran and Hadith.

Keywords: evaluation, islamic concept, mosque, Hadith, Quran

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Authors: Namirimu Beatrice Doreen

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In recent years, there has been growing recognition of the importance of diversity, equity, and inclusion (DEI) in advertising, driven in part by the increasing diversity of society and the expanding reach of new media platforms. As marketers grapple with the challenge of creating campaigns that resonate with a wide range of audiences, the role of new media adoption emerges as a critical, independent variable shaping the landscape of DEI in advertising. This paper delves into the evolving dynamics of DEI in advertising, examining the multifaceted challenges and opportunities encountered by brands in their pursuit of more inclusive marketing strategies. Drawing on theoretical frameworks from marketing, sociology, and communication studies, this paper explores the intricate interplay between DEI initiatives and their impact on consumer perceptions, brand reputation, and market performance. The analysis considers how new media adoption influences the effectiveness and reach of DEI initiatives as brands leverage digital platforms to engage with diverse audiences in innovative ways. Through insightful case studies, this paper illustrates best practices and identifies areas for improvement in the realm of inclusive advertising, shedding light on the practical implications of DEI principles for marketers. By synthesizing insights from academia and industry, this paper offers actionable recommendations for marketers seeking to navigate the complexities of DEI in their advertising strategies. By embracing DEI principles and harnessing the power of new media platforms, brands can foster a more equitable and inclusive advertising landscape, ultimately enhancing their connections with diverse audiences and driving positive social change.

Keywords: diversity, equity, inclusion, new media, contemporary marketing communication

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Authors: Bhawat Chiamjinnawat

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The agri-food market transformation has implied market growth for the fruit industry in Thailand. This article focuses on analysis of farmer competence and farm resources which affect market strategies used by fruit farmers in Chanthaburi province of Thailand. The survey data were collected through the use of face-to-face interviews with structured questionnaires. This study identified 14 drivers related to farmer competence and farm resources of which some had significant effect on the decision to use either high-value markets or traditional markets. The results suggest that farmers who used high-value markets were better educated and they had longer experience and larger sized business. Identifying the important factors that match with the market transformation provides policy with opportunities to support the fruit farmers to increase their market power. Policies that promote business expansion of agricultural cooperatives and knowledge sharing among farmers are recommended to reduce limitations due to limited knowledge, low experience, and small business sizes.

Keywords: farmer competence, farm resources, fruit industry, high-value markets, Thailand

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Authors: Shuruq Ghazi Nahhas

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Islamic art is a decorative art that depends on repeating motifs in various shapes to cover different surfaces. Each motif has its own characteristics and style that may reflect different Islamic periods, such as Umayyad, Abbasid, Fatimid, Seljuk, Nasrid, Ottoman, and Safavid. These periods were the most powerful periods which played an important role in developing the Islamic motifs. Most of these motifs of the Islamic heritage were not used in new applications. This research focused on reviving the vegetal Islamic motifs found on Islamic heritage and redesign them in a new format to decorate various products, including scarfs, cushions, coasters, wallpaper, wall art, and boxes. The scarf is chosen as one element of these decorative products because it is used as accessories to add aesthetic value to fashion. A descriptive-analytical method is used for this research. The process started with extracting and analyzing the original motifs. Then, creating the new motifs by simplifying, deleting, or adding elements based on the original structure. Then, creating repeated patterns and applying them to decorative products. The findings of this research indicated: repeating patterns based on different structures creates unlimited patterns. Also, changing the elements of the motifs of a pattern adds new characteristics to the pattern. Also, creating frames using elements from the repeated motifs adds aesthetic and contemporary value to decorative products. Finally, using various methods of combining colors creates unlimited variations of each pattern. At the end, reviving the Islamic motifs in contemporary vision enriches decorative products with aesthetic, artistic, and historical values of different Islamic periods. This makes the decorative products valuable that adds uniqueness to their surroundings.

Keywords: Islamic motifs, contemporary patterns, scarfs, decorative products

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Authors: Marin Mandić, Elis Sutlović, Tonći Modrić, Luka Stanić

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With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Keywords: electrical market prices, electricity market, energy storage optimization, mixed integer linear programming (MILP) optimization

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Authors: Mohammad Saraj Sharifzai, Keisuke Kitagawa, Ahmad Javid Habib Mohammad Kamil Halimee, Daishi Sakaguchi

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The main purpose of this research is to recognize indoor comfort in contemporary Afghan courtyard house with outdoor welfare in housing layout and neighborhood design where sustainability is a local consideration. This research focuses on three new neighborhoods (Gawoond) in three different provinces of Afghanistan. Since 2001, the capital Kabul and major cities including Kandahar, which will be compared with Peshawar city in Pakistan, have faced a fast, rough-and-tumble process of urban innovation. The effects of this innovation necessitate reconsideration of the formation of sustainable urban environments and in-house thermal comfort. The lack of sustainable urban life in many newly developed Afghan neighborhoods can pose a major challenge to the process of sustainable urban development. Several factors can affect the success or failure of new neighborhoods in the context of urban life. For thermal analysis, we divide our research into three different climatic zones. This study is an evaluation of the environmental impacts of the interior comfort of contemporary courtyard housing with the exterior welfare of neighborhood sustainable design strategy in dry and cold, semi-hot and arid, and semi-humid and hot climates in Afghan cities and Peshawar.

Keywords: Afghan contemporary courtyard house, neighbourhood, street pattern and housing layout, sustainability, welfare, comfort, climate zone, Afghanistan

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: Evgenia Dimova-Aleksandrova, Elitsa Deianova

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Dynamic changes in modern life and habitation due to demographic, urban, technology, and ecological factors affect the size of modern homes leading to a trend of decreasing their area. The current paper aims to investigate the differences between “micro” homes and “small” homes. In Bulgaria, these two types are not included in legal regulations, and therefore, a precise definition and special requirements are needed and sought in order to include their characteristic features in contemporary individual habitation. The purpose of the current study is to determine limits in built-up volume for the two types, to create a definition of the terms “micro” and “small” home, and to find methods to distinguish them. A comparative analysis will differentiate these types of habitation units, thus determining the boundaries for the built-up area for both concepts. The analysis is based on a case study from European practices and is focused on defining minimal requirements for “micro” and “small” home in the context of contemporary demands for high quality habitation in limited areas.

Keywords: Bulgaria, differentiation, micro home, requirements, small home

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Authors: Sulihantoro, Muhamad Irga Fahreza

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Age of onset of the crisis makes more advanced understanding of the values of Islam that has been etched in architectural design. The majority Muslim mosque architecture designing buildings when they designed the architecture of Islam has always stuck in a cultural symbol, the shape of the facade, carving calligraphy, and all things that are closely related to the culture of the Middle East. As well as the interpretation of symbols, by designing a dome in every mosque, calligraphy carvings inside the mosque, and the other elements in the building which is interpreted by middle eastern culture. So here we have a problem understanding the meaning of Islam with kaf fah (overall), which appears distorted understanding to distinguish between cultural values and theological in design. This paper will try to evaluate the design of a contemporary mosque in Indonesia, with a case study in Masjid Kauman Yogyakarta Indonesia. building characteristics focused on the function of the building, history, aesthetics, comfort, and safety. The results of this study should be found on the evaluation of the integrated design of contemporary mosques are based on a study of the Quran and Hadith.

Keywords: characteristics, Islamic concept, culture, Kauman Mosque

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Authors: Sasitorn Chetanont

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The objectives of this study are to find out the approaches to promote healthy recreation activities for elderly tourists and develop Bang Nam Phueng Floating Market to be a health tourism attraction. The research methodology was to analyze internal and external situations according to MP-MF and the MC-STEPS principles. As for the results of this study the researcher found that the healthy recreational activities for elderly tourists could be divided in 7 groups; travelling Bang Nam Phueng Floating Market activity, homestay relaxation, arts center platform activity, healthy massage activity, paying homage to a Buddha image activity, herbal joss-stick home activity, making local desserts and food activity.

Keywords: elderly tourists, recreation activities, Bang Nam Phueng Floating Market, health tourism

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Authors: Benjamin Obeghare Izu

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In Africa, indigenous musical practices are the focal point in which most cultural practices revolve, and they are the conduit mainly used in transmitting Indigenous knowledge and values. They serve as a means of documenting, preserving, transmitting indigenous knowledge, and re-enacting their historical, social, and cultural affinity. Indigenous musical practices also serve as a repository for indigenous knowledge and artistic traditions. However, these indigenous musical practices and the resulting cultural ideals are confronted with substantial challenges in the twenty-first century from contemporary cultural influence. Additionally, indigenous musical practices' educational and cultural purposes have been impacted by the broad monetisation of the arts in contemporary society. They are seen as objects of entertainment. Some young people are today unaware of their cultural roots and are losing their cultural identity due to these influences and challenges. In order to help policymakers raise awareness of and encourage the use of indigenous knowledge and musical practices among African youth and scholars, this study is in response to the need to explore the components and functions of the indigenous knowledge system, values, and musical tradition in Africa. The study employed qualitative research methods, utilising interviews, participant observation, and conducting related literature as data collection methods. It examines the indigenous musical practices in the Oba of Benin Royal Igue festival among the Benin people in Edo state, Nigeria, and the Ovwuwve festival observed by the Abraka people in Delta state, Nigeria. The extent to which the indigenous musical practices convey and protect indigenous knowledge and cultural values are reflected in the musical practices of the cultural festivals. The study looks at how indigenous musical arts are related to one another and how that affects how indigenous knowledge is transmitted and preserved. It makes recommendations for how to increase the use of indigenous knowledge and values and their fusion with contemporary culture. The study contributes significantly to ethnomusicology by showing how African traditional music traditions support other facets of culture and how indigenous knowledge might be helpful in contemporary society.

Keywords: African musical practices, African music and dance, African society, indigenous musical practices

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Authors: D. Tloczynski

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The main aim of this article is to present a balance of the decade of Polish air transport market in the European Union having taking into account selected entities of the aviation market. This article analyzes the functioning of the Polish air transport market after the Polish accession to the European Union. During the study two main areas were pointed: shipping activity and activity of the airports. The most important benefits of integration and the benefits of introducing of the open sky policy were indicated. The last part of the article presents the perspectives of development of air traffic.

Keywords: air transport, airports, development air transport, European Union, Poland

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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