Search results for: contract theory

Authors: Lian Kösters, Wendy Smits, Raymond Montizaan

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The number of solo self-employed in the Netherlands has been increasing for years. The relative increase is among the largest in the EU. To explain this increase, most studies have focused on the supply side, workers who offer themselves as solo self-employed. The number of studies that focus on the demand side, the employer who hires the solo self-employed, is still scarce. Studies into employer behaviour conducted until now show that employers mainly choose self-employed workers when they have a temporary need for specialist knowledge, but also during projects or production peaks. These studies do not provide insight into the employers’ considerations for different contract types. In this study, interviews with employers were conducted, and available literature was consulted to provide an overview of the several factors employers use to compare different contract types. That input was used to set up a vignette study. This was carried out at the end of 2021 among almost 1000 business owners, HR managers, and business leaders of Dutch companies. Each respondent was given two sets of five fictitious candidates for two possible positions in their organization. They were asked to rank these candidates. The positions varied with regard to the type of tasks (core tasks or support tasks) and the time it took to train new people for the position. The respondents were asked additional questions about the positions, such as the required level of education, the duration, and the degree of predictability of tasks. The fictitious candidates varied, among other things, in the type of contract on which they would come to work for the organization. The results were analyzed using a rank-ordered logit analysis. This vignette setup makes it possible to see which factors are most important for employers when choosing to hire a solo self-employed person compared to other contracts. The results show that there are no indications that employers would want to hire solo self-employed workers en masse. They prefer regular employee contracts. The probability of being chosen with a solo self-employed contract over someone who comes to work as a temporary employee is 32 percent. This probability is even lower than for on-call and temporary agency workers. For a permanent contract, this probability is 46 percent. The results provide indications that employers consider knowledge and skills more important than the solo self-employed contract and that this can compensate. A solo self-employed candidate with 10 years of work experience has a 63 percent probability of being found attractive by an employer compared to a temporary employee without work experience. This suggests that employers are willing to give someone a less attractive contract for the employer if the worker so wishes. The results also show that the probability that a solo self-employed person is preferred over a candidate with a temporary employee contract is somewhat higher in business economics, administrative and technical professions. No significant results were found for factors where it was expected that solo self-employed workers are preferred more often, such as for unpredictable or temporary work.

Keywords: employer behaviour, rank-ordered logit analysis, solo self-employment, temporary contract, vignette study

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Authors: Pauline E. Ngo-Henha

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Existing turnover intention theories are reviewed in this paper. This review was conducted with the help of the search keyword “turnover intention theories” in Google Scholar during the month of July 2017. These theories include: The Theory of Organizational Equilibrium (TOE), Social Exchange Theory, Job Embeddedness Theory, Herzberg’s Two-Factor Theory, the Resource-Based View, Equity Theory, Human Capital Theory, and the Expectancy Theory. One of the limitations of this review paper is that data were only collected from Google Scholar where many papers were sometimes not freely accessible. However, this paper attempts to contribute to the research in clarifying the distinction between theories and models in the context of turnover intention.

Keywords: Literature Review, Theory, Turnover, Turnover intention

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Authors: K. C. Iyer, Yogita Manan Bindal, Sumit Kumar Bakshi

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Disputes and litigation are becoming inherent to the construction industry in India, and despite construction being one of the major drivers of growth, there have not been many reforms in the government construction contracts. Many of the disputes arising from the government contracts, can be avoided by the proper drafting of contracts and their administration. This study aims to 1) identify the best practices in the construction contract as reviewed from the research papers and additional literature on contract management, 2) obtain perspectives from the industry experts on the implementation of these best practices with regards to likely challenges and relative benefits for implementing the best practices in construction contracts. The best practices for disputes arising due to delay events have been identified through extensive literature survey. The industry perspective is gathered by way of a questionnaire survey to understand the applicability of the identified best practices, the benefits that are likely to be obtained and the challenges that are likely to be faced in the implementation of these practices. The study concludes with the recommended best practices that can be implemented based on the perspectives obtained from the survey. The findings of the study can be used by the industry professionals while drafting construction contracts with a view to avoid disputes related to delay events.

Keywords: best practices, construction contract, delay, dispute avoidance

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Authors: Merkouche Wassila, Marchand Alain, Renaud Stéphane

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Organizations are facing competitive pressures constraining them to modify their practices and change initial work conditions of employees, however, these modifications have to sustain initial quality of work and engagements toward the workforce. We focus on the importance of promises in the perspective of psychological contract. According to this perspective, employees perceiving a breach of the expected obligations from the employer may become unsatisfied at work and develop organizational withdrawal behaviors. These are negative counterproductive behaviours aiming to damage the organisation according to the principle of reciprocity and social exchange. We present an integrative model of the determinants and manifestations of organizational withdrawal (OW), a set of behaviors allowing the employee to leave his job or avoid his assigned work. OW contains two main components often studied in silos: work withdrawal (delays, absenteeism and other adverse behaviors) and job withdrawal (turnover). We use the systemic micro, meso and macro sociological approach designing the individual at the heart of a system containing individual, organizational, and environmental determinants. Under the influence of these different factors, the individual assesses the type of behavior to adopt. We provide better lighting for understanding OW using both psychological contract approach through the perception of its respect by the organization and job embeddedness approach which explains why the employee does not leave the organization and then remains in his post while practicing negative and counterproductive behaviors such as OW. We study specifically cynicism as a type of OW as it is a dimension of burnout. We focus on the antecedents of cynicism to try to prevent it in the workplace.

Keywords: burnout, cynicism, job embeddedness, organizational withdrawal, psychological contract

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Authors: Ons Triki, Fathi Abid

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The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default.

Keywords: contingent convertible lease, growth option, debt overhang, risk-shifting, capital structure

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Authors: Fedorova Elena

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In this article, we draw a distinction between two important functions of public policy in private international law. The first function is widely recognized and relates to the prevention of application of foreign laws and enforcement of foreign court judgments whenever their effects are incompatible with the domestic legal system of the forum. This effectively protects sovereign rights of the forum state as it allows to resist against the undesirable effects of foreign law-making and law-enforcement policies. The second function is less obvious, but not less important. As the internal private legal relationships, international private relationships are usually governed by rules of public policy, to which the parties can not derogate by mutual agreement. Thefore, for international private law relations public policy has a different function than previously mentioned: in this case, the public policy acts as a defense against unacceptable effects of the party autonomy. Thus, this second function of public policy consists in the limitation of the party autonomy wich effects would be unacceptable for the local legal system. In the frame of this second function the author will analyse two types of public policy which can limit the party autonomy: « substantial » public policy (which regulates the substance of international legal relationship) and « conflictual » public policy (which regulates the party autonomy to choose the law applicable for the substance of relationship). The author provides an analysis of these functions of the public policy in the field of international contract law because of the important role of the principle of party autonomy for international contract relations.

Keywords: public policy, general theory of private international law, substantial public policy, conflictual public policy

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Authors: Chariton Christou, David Cornwell

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Production Sharing Contract (PSC) is the type of contract that is being used widely in our time. The financial crisis made the governments tightfisted and they do not have the resources to participate in a development of a field. Therefore, more and more countries introduce the PSC. The companies have the power and the money to develop the field with their own way. The main problem is the transparency of oil and gas companies especially in the PSC and how this can be achieved. Many discussions have been made especially in the U.K. What we are suggesting is a dynamic financial simulation with the help of a flow meter. The flow meter will count the production of each field every day (it will be installed in a pipeline). The production will be the basic input of the simulation. It will count the profit, the costs and more according to the information of the flow meter. In addition it will include the terms of the contract and the costs that have been paid. By all these parameters the simulation will be able to present in real time the information of a field (taxes, employees, R-factor). By this simulation the company will share some information with the government but not all of them. The government will know the taxes that should be paid and what is the sharing percentage of it. All of the other information could be confidential for the company. Furthermore, oil company could control the R-factor by changing the production each day to maximize its sharing percentages and as a result of this the profit. This idea aims to change the way that governments 'control' oil companies and bring a transparency evolution in the industry. With the help of a simulation every country could be next to the company and have a better collaboration.

Keywords: production sharing contracts, transparency, simulation

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Authors: Naseem Akhter, Rozina Khattak, Arshad Munir

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The Islamic social and family system is very clear concerning will, choice, consent and negation of compulsion and force in human life. Marriage is not only a civil contract but also a religious and spiritual contract between spouse (man and woman), which allows them for each other to live gladly, joyfully and legally in the society. It is an immortal and perpetual association between man and woman, which is filled with sympathetic affection, kindness, compassion and security. Islam gives specific rights to parents and guardians to set up the marriage ceremony and get done it as a respectful family occasion, confer their blessing and advice for a life partner of their children. The rights of parents and guardians are summed up in the term of "Willayah”. Islam does not permit parents, guardians and other relatives to compel their children regarding the marriage of their choice, because the groom and the bride are the real parties of the contract. Therefore, their willingness is of prime importance in order to spend whole life with each other. The Holy Prophet (peace and blessings of Allah be upon him) prohibits forcing a virgin to marriage without her permission, whether this is her father or someone else. The right of free consent to choose a life partner is the basic right for the human which is God (Allah) gifted. Unfortunately, forced marriage is a common practice in Pakistani society that has no link with Islam. This article is being written in the same context.

Keywords: choice, consent, forced marriage, Islam, parents, spouse

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Authors: Lo Kar Yin

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In view of the increasing speed and quantity of the housing supply, building, and civil engineering infrastructure works triggered by the pandemic across the globe, contractors, professional services providers (PSP), including consultants (e.g., architect, project manager, civil/geotechnical/structural engineer, building services engineer, quantity surveyor/cost manager, etc.) and suppliers have faced tremendous challenges of the fierce market, limited manpower, and resources under contract prices fluctuation and competitive fee and price. With qualitative analysis, this paper is to review the available information from the industry stakeholders with a view to finding solutions for enhancing efficiency, safety, and quality of construction value chain services for public and private organizations/companies’ sustainable growth, not limited to checking the deliverables and data transfer from multi-disciplinary parties. Technology, contracts, and people are the key requirements for shaping the construction industry. With the integration of a modern engineering contract (e.g., NEC) collaborative approach, practical workflows are designed to address loopholes together with different levels of people employment/retention and technology adoption to achieve the best value for money.

Keywords: efficiency, safety, quality, technology, contract, people, sustainable solutions, construction, services, integration

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Authors: Ibrahim Mahamid, A. Al-Ghonamy, M. Aichouni

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This study aims at identifying the risk matrix for delay causes in construction projects in Saudi Arabia from consultants’ viewpoint. A questionnaire survey was undertaken of 51 consultants working on construction projects in the Northern Province of Saudi Arabia. 35 delay causes were identified through a literature review. The study concluded that the top delay causes in construction projects in Saudi Arabia from consultants’ perspective are: bid award for lowest price, changes in material types and specifications during construction, contract management, duration of contract period, fluctuation of prices of materials, frequent changes in design, improper planning, inflationary pressure, lack of adequate manpower, long period of design and time of implementation, payments delay, poor labor productivity, and rework.

Keywords: delays, construction, consultants, contributors, risk map

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Authors: Mohammad Ahmadi

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Argumentative writing is a highly opinion-based form of discourse that necessitates the ability to address commonly held opinions (endoxa). To enhance the development of persuasive, argumentative essays, the incorporation of classical rhetorical theory, with a specific focus on topics related to the canon of Invention (inventio), can be advantageous. This research investigates the practical application of rhetorical theory in teaching students how to construct compelling argumentative essays. The fundamental premise of this study is the limited familiarity of rhetoric and composition students with rhetorical theory. Consequently, this paper presents an effective pedagogical approach to introduce rhetorical theory to students, beginning from a foundational level. It delineates the procedures and progression that educators should adopt to elucidate and facilitate students' comprehension of rhetorical theory while demonstrating its utilization in the writing of an argumentative essay.

Keywords: argumentative essay, rhetorical theory, pedagogy, invention

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Authors: M. Shoukath Ali, Rajendra Prasad Singh

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Game Theory approaches and their application in improving the performance of Wireless Sensor Networks (WSNs) are discussed in this paper. The mathematical modeling and analysis of WSNs may have low success rate due to the complexity of topology, modeling, link quality, etc. However, Game Theory is a field, which can efficiently use to analyze the WSNs. Game Theory is related to applied mathematics that describes and analyzes interactive decision situations. Game theory has the ability to model independent, individual decision makers whose actions affect the surrounding decision makers. The outcome of complex interactions among rational entities can be predicted by a set of analytical tools. However, the rationality demands a stringent observance to a strategy based on measured of perceived results. Researchers are adopting game theory approaches to model and analyze leading wireless communication networking issues, which includes QoS, power control, resource sharing, etc.

Keywords: wireless sensor network, game theory, cooperative game theory, non-cooperative game theory

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Authors: Laura Ramona Nae

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The issue of risks faced by companies providing tourist and hotel services in the HoReCa field, related to the goods belonging to consumer tourists left in hotel storage, has acquired a new dimension in the context of the economic and geo-political influences that have recently intervened at the global level. Thus, hoteliers and not only had to create contractual mechanisms regarding the risks and to protect the businesses in this field of activity. This situation has led to a reassessment of the importance of insurance, in particular with regard to hotel liability insurance-premises liability, safety, and security of goods. Interpretation of clauses in contracts concluded between hoteliers and tourists consuming hotel services and products, all the more so in the current pandemic context of Covid 19, stressed the increase in the number of disputes generated by them. This article presents a general picture of the significance of the risks related to the activity carried out in the hospitality industry, tourism, respectively within the HoReCa field. The study mainly marks the specificities of the hotel deposit contract, as well as the related insurance specific to the field, as a way to cover these risks. The article also refers to alternative methods of out-of-court settlement of disputes (ADR) in the HoReCa domain, generally used in both Romania and the European Union.

Keywords: consumer tourist, disputes and ADR methods, deposit contract, hotel warehouse and hotelier insurance, hotel services and tourist products, HoReCa

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Authors: Amir Deljoo

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The endeavor to comprehend the existence have been the center of thought for human in form of different disciplines and now basically in physics as the theory of everything. Here, after a brief review of the basic frameworks of thought, and a history of thought since ancient up to present, a logical methodology is presented based on a core axiom after which a function, a proto-field and then a coordinates are explained. Afterwards a generalization to Standard Model is proposed as General Standard Model which is believed to be the base of the Unified Theory of Everything.

Keywords: general relativity, grand unified theory, quantum mechanics, standard model, theory of everything

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Authors: Anthony Townley

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Contract negotiation is fundamental to commercial law practice. For this study, genre and discourse analytical methodology was used to examine the legal negotiation of a Merger & Acquisition (M&A) deal undertaken by legal and business professionals in English across different jurisdictions in Europe. While some of the most delicate negotiations involved in this process were carried on face-to-face or over the telephone, these were generally progressed more systematically – and on the record – in the form of emails, email attachments, and as comments and amendments recorded in successive ‘marked-up’ versions of the contracts under negotiation. This large corpus of textual data was originally obtained by the author, in 2012, for the purpose of doctoral research. For this study, the analysis is particularly concerned with the use of emails and covering letters to exchange legal advice about the negotiations. These two genres help to stabilize and progress the negotiation process and account for negotiation activities. Swalesian analysis of functional Moves and Steps was able to identify structural similarities and differences between these text types and to identify certain salient discursive features within them. The analytical findings also indicate how particular linguistic strategies are more appropriately and more effectively associated with one legal genre rather than another. The concept of intertextuality is an important dimension of contract negotiation discourse and this study also examined how the discursive relationships between the different texts influence the way that texts are constructed. In terms of materials development, the research findings can contribute to more authentic English for Legal & Business Purposes pedagogies for students and novice lawyers and business professionals. The findings can first be used to design discursive maps that provide learners with a coherent account of the intertextual nature of the contract negotiation process. These discursive maps can then function as a framework in which to present detailed findings about the textual and structural features of the text types by applying the Swalesian genre analysis. Based on this acquired knowledge of the textual nature of contract negotiation, the authentic discourse materials can then be used to provide learners with practical opportunities to role-play negotiation activities and experience professional ways of thinking and using language in preparation for the written discourse challenges they will face in this important area of legal and business practice.

Keywords: English for legal and business purposes, discourse analysis, genre analysis, intertextuality, pedagogical materials

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Authors: Adelina Vrancianu

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A public procurement procedure starts with the publication of the contract notice and the tender documentation. The documentation provides bidders with general guidelines and rules governing the tender process. At this stage, the interested economic operators start to prepare their bid. During this process, they may encounter unclear elements that, if are not clarified, may have a negative impact on the future bid with the ultimate sanction of exclusion. Until the opening of the bids, the potential bidders have the right to ask questions in order to clarify certain aspects of the tender documentation. In correlation, the contracting authorities have the obligation to answer these questions in a reasoned time and with clarity. In practice, the two conditions are not met due to a number of factors. This essay tries to outline the general principles regarding the clarifications during the phase of tender preparation. The provisions of the new directive on public procurement will be taken in consideration in this process in regard to the old directive.

Keywords: tender preparation, tender documentation, clarifications, contract notice

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Authors: Juhan Kim, Jinsoo Kim

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South Korea cannot import natural gas in any form other than LNG because of the division of South and North Korea. Further, the high proportion of natural gas in the national energy mix makes this resource crucial for energy security in Korea. Expansion of Panama Canal will allow for reducing the cost of shipping between the Far East and U.S East. Panama Canal expansion can have significant impacts on South Korea. Due to this situation, we review the natural gas optimal portfolio by considering the uniqueness of the Korean Natural gas market and expansion of Panama Canal. In order to assess Korea’s natural gas optimal portfolio, we developed natural gas portfolio model. The model comprises two steps. First, to obtain the optimal long-term spot contract ratio, the study examines the price level and the correlation between spot and long-term contracts by using the Markowitz, portfolio model. The optimal long-term spot contract ratio follows the efficient frontier of the cost/risk level related to this price level and degree of correlation. Second, by applying the obtained long-term contract purchase ratio as the constraint in the linear programming portfolio model, we determined the natural gas optimal import portfolio that minimizes total intangible and tangible costs. Using this model, we derived the optimal natural gas portfolio considering the expansion of Panama Canal. Based on these results, we assess the portfolio for natural gas import to Korea from the perspective of energy security and present some relevant policy proposals.

Keywords: natural gas, Panama Canal, portfolio analysis, South Korea

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Authors: Ons Triki, Fathi Abid

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Along with the increase in the use of leasing contracts in corporate finance, multiple studies aim to model the credit risk of the lease in order to cover the losses of the lessor of the asset if the lessee goes bankrupt. In the current research paper, a convertible lease contract is elaborated in a continuous time stochastic universe aiming to ensure the financial stability of the firm and quickly recover the losses of the counterparties to the lease in case of default. This work examines the term structure of the lease rates taking into account the credit default risk and the capital structure of the firm. The interaction between the lessee's capital structure and the equilibrium lease rate has been assessed by applying the competitive lease market argument developed by Grenadier (1996) and the endogenous structural default model set forward by Leland and Toft (1996). The cumulative probability of default was calculated by referring to Leland and Toft (1996) and Yildirim and Huan (2006). Additionally, the link between lessee credit risk and lease rate was addressed so as to explore the impact of convertible lease financing on the term structure of the lease rate, the optimal leverage ratio, the cumulative default probability, and the optimal firm value by applying an endogenous conversion threshold. The numerical analysis is suggestive that the duration structure of lease rates increases with the increase in the degree of the market price of risk. The maximal value of the firm decreases with the effect of the optimal leverage ratio. The results are indicative that the cumulative probability of default increases with the maturity of the lease contract if the volatility of the asset service flows is significant. Introducing the convertible lease contract will increase the optimal value of the firm as a function of asset volatility for a high initial service flow level and a conversion ratio close to 1.

Keywords: convertible lease contract, lease rate, credit-risk, capital structure, default probability

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of thirty-six factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: cost, overrun, building construction projects, Jordan

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Authors: Mohammadsadegh Zanganehfar

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Since the modernism, movement, and appearance of modern architecture, an aggressive desire for a general design theory in the theoretical works of architects in the form of books and essays emerges. Since Robert Venturi and Denise Scott Brown’s published complexity and contradiction in architecture in 1966, the discourse of complexity and volumetric composition has been an important and controversial issue in the discipline. Ever since various theories and essays were involved in this discourse, this paper attempt to identify chaos theory as a scientific model of complexity and its relation to architecture design theory by conducting a qualitative analysis and multidisciplinary critical approach through architecture and basic sciences resources. As a result, we identify chaotic architecture as the correlation of chaos theory and architecture as an independent nonlinear design theory with specific characteristics and properties.

Keywords: architecture complexity, chaos theory, fractals, nonlinear dynamic systems, nonlinear ontology

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

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

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

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Authors: Olga C. Rodrigue

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Long-term care and skilled nursing facilities experience ebbs and flows of nursing staffing, a problem compounded by the perception of the facilities as undesirable workplaces and competition for staff from other healthcare entities. Travel nurses are contracted to fill staffing needs due to increased admissions, increased and unexpected attrition of nurses, or facility expansion of services. Prior to beginning the contracted assignment, the travel nurse must meet industry, company, and regulatory requirements (The Joint Commission and CMS) for skills and knowledge. Travel nurses, however, inconsistently receive the pre-assignment orientation needed to work at the contracted facility, if any information is given at all. When performance expectations are not met, travel nurses may subsequently choose to leave the position without completing the terms of the contract, and some facilities may choose to terminate the contract prior to the expected end date. The overarching goal of the Doctor of Nursing Practice evidence-based practice improvement project is to provide travel nurses with the basic and necessary information to prepare them to begin a long-term and skilled nursing assignment. The project involves the identification of travel nurse learning needs through a survey and the development and provision of web-based learning modules to address those needs prior to arrival for a long-term and skilled nursing assignment.

Keywords: nurse staffing, travel nurse, travel staff, contract staff, contracted assignment, long-term care, skilled nursing, onboarding, orientation, staff development, supplemental staff

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Authors: Yue Meng, Lingyun Wei

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In this paper, the coordination problem of a supply chain system composed of multiple retailers and manufacturers is studied under the background of the new retail supply chain. Taking a system composed of two retailers and one manufacturer as an example, this paper introduces an online store owned by the manufacturer to reflect the characteristics of the combination of online and offline new retail. Then, this paper gives the conditions that need to be satisfied to realize the coordination between retailers and manufacturers, such as the revenue sharing coefficient. The supply chain coordination model is compared with the newsboy model through a specific example. Finally, the conclusion is drawn that the profits of the coordinated supply chain and its members are better than the corresponding profits under the newsboy model; that is, the coordination of the supply chain is realized by using the revenue sharing contract and the transshipment fund mechanism.

Keywords: transshipment, coordination, multi-retailer, revenue-sharing contract

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Authors: Xiu Zhang

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The Merchant of Venice focuses on identity anxiety through the contract of “a pound of flesh” and refers to the economic, legal and religious issues related to identity. The development of the emerging capitalist economy in Venetian society prompted Shylock to become a usurer. The social identity of Shylock’s lender enabled him to use the power of money to consolidate the interdependent relationship with Christians and strive for his position and living space in Venetian society. However, there have long been economical and religious conflicts between Jews and Christians. Therefore, in order to take vengeance on Antonio and take his life, so as to revenge the whole Christian society, Shylock insists on taking a pound of Antonio’s flesh in the name of abiding by the contract and the law. The choice of “a pound of flesh” is essentially the representation of human materialization and commercialization under the background of the rise of capitalism and economic transformation. At the same time, it also symbolizes Shylock’s efforts and attempts to reshape himself and his racial identity.

Keywords: merchant of Venice, ethical choices, Shylock, a pound of flesh, identity anxiety

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Authors: Renata Masarova, Bohuslava Juhasova, Martin Juhas, Zuzana Sutova

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In dynamic system theory a mathematical model is often used to describe their properties. In order to find a transfer matrix of a dynamic system we need to calculate an inverse matrix. The paper contains the fusion of the classical theory and the procedures used in the theory of automated control for calculating the inverse matrix. The final part of the paper models the given problem by the Matlab.

Keywords: dynamic system, transfer matrix, inverse matrix, modeling

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Authors: Shahin Zanbaghi, Saeed Samet

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The internet has transformed the way we shop. Previously, most of our purchases came in the form of shopping trips to a nearby store. Now, it’s as easy as clicking a mouse. But with great convenience comes great responsibility. We have to be constantly vigilant about our personal information. In this work, our proposed approach is to encrypt the information printed on the physical packages, which include personal information in plain text, using a symmetric encryption algorithm; then, we store that encrypted information into a Blockchain network rather than storing them in companies or corporations centralized databases. We present, implement and assess a blockchain-based system using Ethereum smart contracts. We present detailed algorithms that explain the details of our smart contract. We present the security, cost, and performance analysis of the proposed method. Our work indicates that the proposed solution is economically attainable and provides data integrity, security, transparency, and data traceability.

Keywords: blockchain, Ethereum, smart contract, commit-reveal scheme

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Authors: Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Imron Mawardi, Achsania Hendratmi

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Murabaha is the most popular contract by the Islamic banks in Indonesia, since there is opinion stating that the risk level of mudharaba and musyaraka are higher and the return is uncertain. This research aims to analyze the difference of return, risk, and variation coefficient between profit sharing-based and trading-based financing in Islamic bank. This research uses quantitative approach using Wilcoxon signed rank test with data sampled from 13 Indonesian Islamic banks, collected from their quarterly financial reports from 2011 to 2015. The result shows the significant difference in return, while risk and variation coefficient are almost same. From the analysis, it can be concluded that profit sharing-based financing is less desirable not because of its risk. Trading-based financing is more desirable than the profit sharing because of its return.

Keywords: financing, Islamic bank, return, risk

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Authors: Bok Check Meng, Goh Ying Soon

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Giving additional learning materials such as Chinese fantasy novel to non-native learners can be strenuous. Instructors have to understand the underpinning theories about cognitive theory for new word instruction. This paper discusses the underpinning theories. Relevant literature reviews are given. There are basically five major areas of cognitive related theories mentioned in this article. These include motivational learning theory, Affective theory of learning, Cognitive psychology theory, Vocabulary acquisition theory and Bloom’s cognitive levels theory. A theoretical framework has been constructed. Thus, this will give a hand in ensuring non-native learners might gain positive outcomes in the instruction process. Instructors who are interested in teaching new word from Chinese fantasy novel in specific to support additional learning might be able to get insights from this article.

Keywords: Chinese fantasy novel, new word teaching, non-native learners, cognitive theory, bloom

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Authors: Janani V., Tanika Singh, Bala Subramanian R., Santosh Kumar Sharma

Abstract:

Higher education across the globe is undergoing a sea change. This has created a varied management of higher education in Indian universities, and therefore, we find no universal law regarding HR policies and practices in these universities. As a result, faculty retention is very low, which is a serious concern for educational leaders such as vice-chancellors or directors working in the higher education sector. We can understand this phenomenon in the light of various management theories, among which theory z proposed by William Ouchi is a prominent one. With this backdrop, the present article strives to contextualize theory z in Indian higher education. For the said purpose, qualitative methodology has been adopted, and accordingly, propositions have been generated. We believe that this article will motivate other researchers to empirically test the generated propositions and thereby contribute in the existing literature.

Keywords: education, managemenet, motivation, Theory X, Theory Y, Theory Z, faculty members, universities, India

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Authors: Zhengyang Ma, Zhiyao Li, Jiayi Zhang

Abstract:

This article examines the prospect theory’s arguments about decision-making through two case studies, the First Gulf War and Russia’s annexation of Crimea. The article uses the methods of comparative case analysis and process tracing to investigate the prospect theory’s fundamental arguments. Through evidence derived from existing primary and secondary sources, this paper argues that both former U.S. President Bush and Russian President Putin viewed their situations as a domain of loss and made risky decisions to prevent further deterioration, which attests the arguments of the prospect theory. After the two case studies, this article also discusses how the prospect theory could be used in analyzing the decision-making process that led to the current Russia-Ukraine War.

Keywords: the prospect theory, international relations, the first gulf war, the crimea crisis

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