Search results for: corporate financial crisis

Authors: Mohsin Sadaqat, Hilal Anwar Butt

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Following the stock selection guidelines provided by the Sharia Board (SB), we segregate the firms listed at Pakistan Stock Exchange (PSX) into Sharia Compliant (SC) and Non-Sharia Compliant (NSC) stocks. Subsequently, we form portfolios within each group based on market capitalization and volatility. The purpose is to analyze and compare the performance of these two groups as the SC stocks have lesser diversification opportunities due to SB restrictions. Using data ranging from January 2004 until June 2016, our results indicate that in most of the cases the risk-adjusted returns (alphas) for the returns differential between SC and NCS firms are positive. In addition, the SC firms in comparison to their counterparts in PSX provides excess returns that are hedged against the market, size, and value-based systematic risks factors. Overall, these results reconcile with one prevailing notion that the SC stocks that have lower financial leverage and higher investment in real assets are lesser exposed to market-based risks. Further, the SC firms that are more capitalized and less volatile, perform better than lower capitalized and higher volatile SC and NSC firms. To sum up our results, we do not find any substantial evidence for opportunity loss due to limited diversification opportunities in case of SC firms. To optimally utilize scarce resources, investors should consider SC firms as a candidate in portfolio construction.

Keywords: diversification, performance, sharia compliant stocks, risk adjusted returns

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Authors: Saad Khalid Niaz, Arif Mahmood Siddiqui, Afzal Haqi

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Background: Estimated prevalence of Hepatitis C in Pakistan is 5% of which 78 % are Genotype 3, in which Response to conventional interferon is reported to be 70%. Objective: To determine the efficacy of pegylated interferon 20 kDa (Unipeg) plus ribavirin (Ribazole) in HCV genotype 3 patients who relapsed to conventional interferon. Methods: This is an ongoing study of 20 enrolled patients. Pegylated interferon alfa-2a 20 kDa 180 mcg weekly with ribavirin, were administered for a period of 24 weeks. Virological Responses were measured by Qualitative HCV RNA at weeks 4, 12, 24 and 48 to determine Rapid Virological Response (RVR), Early Virological Response (EVR), End of Treatment (ETR) and Sustained Virological Response (SVR), respectively. EVR was done for those who didn’t achieve RVR. Results: Males were 12 (60%) and mean age was 38.5 ±7.62 years. Out of 20 recruited patients, all completed 4 weeks therapy; RVR was achieved in 8 (40%) patients. One patient was lost to follow up and one yet to visit at 12 weeks. From 10 patients, 8 (80%) patients achieved EVR. Out of intent-to-treat patients, 15 completed 24 weeks therapy, ETR was achieved in 14 (93%) patients and 9 patients completed post therapy follow-up, of which, 8 (89%) patients achieved SVR. Conclusion: Our interim data demonstrates that Pegylated Interferon alfa-2a 20 kDa 180 mcg (Unipeg) in combination with Ribavirin (Ribazole) has shown promising results in treating HCV Genotype 3 patients who relapsed to conventional interferon. We recommend use of Pegylated Interferon in Relapsers with Genotype 3 when financial constraints limit the use of oral antivirals.

Keywords: pegylated interferon (unipeg), hepatitis c, relapsers, Pakistan

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Authors: Ruan Yi-Chen, Li Wang-Ming, Fang Yuan

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With the rapid growth of urbanization in China in recent years, public services are in short supply because of expanding population and limitation of financial support, which makes delicate configuration of public service facilities to become a trend in urban planning. Besides, the facility configuration standard implemented in China is equal to the whole the urban area without considering internal differences in it. Therefore, this article focuses on population Spatial disparities analysis in order to optimize facility configuration in communities of main city district. The used data, including population of 93 communities during 2010 to 2015, comes from GongShu district, Hangzhou city, PRC. Through the analysis of population data, especially the age structure of those communities, the communities finally divided into 3 types. Obviously, urban public service facilities allocation situation directly affect the quality of residents common lives, which turns out that deferent kinds of communities with deferent groups of citizens will have divergences in facility demanding. So in the end of the article, strategies of facility configuration will be proposed based on the population analysis in order to optimize the quantity and location of facilities with delicacy.

Keywords: delicacy, facility configuration, population spatial disparities, urban area

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Authors: Ramona Zharfpeykan, Paul Rouse

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Organizational sustainability is important to both organizations themselves and their stakeholders. Despite its increasing popularity and increasing numbers of organizations reporting sustainability, research on evaluating and comparing the sustainability performance of companies is limited. The aim of this study was to develop models to measure sustainability performance for both cross-sectional and longitudinal comparisons across companies in the same or different industries. A secondary aim was to see if sustainability reports can be used to evaluate sustainability performance. The study used both a content analysis of Australian sustainability reports in mining and metals and financial services for 2011-2014 and a survey of Australian and New Zealand organizations. Two methods ranging from a composite index using uniform weights to data envelopment analysis (DEA) were employed to analyze the data and develop the models. The results show strong statistically significant relationships between the developed models, which suggests that each model provides a consistent, systematic and reasonably robust analysis. The results of the models show that for both industries, companies that had sustainability scores above or below the industry average stayed almost the same during the study period. These indices and models can be used by companies to evaluate their sustainability performance and compare it with previous years, or with other companies in the same or different industries. These methods can also be used by various stakeholders and sustainability ranking companies such as the Global Reporting Initiative (GRI).

Keywords: data envelopment analysis, sustainability, sustainability performance measurement system, sustainability performance index, global reporting initiative

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Authors: Ljiljana Seric, Vladimir Divic, Marin Bugaric

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This paper presents methodology for spatial analysis of GIS data that is used for assessing the microlocation risk index from potential damages of high winds. The analysis is performed on freely available GIS data comprising information about wind load, terrain cover and topography of the area. The methodology utilizes the legislation of Eurocode norms for determination of wind load of buildings and constructions. The core of the methodology is adoption of the wind load parameters related to location on geographical spatial grid. Presented work is a part of the Wind Risk Project, supported by the European Commission under the Civil Protection Financial Instrument of the European Union (ECHO). The partners involved in Wind Risk project performed Wind Risk assessment and proposed action plan for three European countries – Slovenia, Croatia and Germany. The proposed method is implemented in GRASS GIS open source GIS software and demonstrated for Case study area of wider area of Split, Croatia. Obtained Wind Risk Index is visualized and correlated with critical infrastructures like buildings, roads and power lines. The results show good correlation between high Wind Risk Index with recent incidents related to wind.

Keywords: Eurocode norms, GIS, spatial analysis, wind distribution, wind risk

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Authors: N. M. Tawil, A. R. Musa, A. I Che-Ani, H. Basri

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It is known that rising of house prices recently has affected the home ownership, especially for the future. Hence to overcome the rose of housing prices, the self-build home or DIY concept is perceived as one of the solution. This concept is proposed to be implemented for the future housing design as a strategy in helping the government to provide affordable housing, especially for middle income group to own a landed housing property. This concept is expected to offer a lower housing price for middle-income buyers and provide an opportunity for buyers to design their dream’s home with the self-build home or 'Do It Yourself' (DIY) concept. In order to implement this concept as affordable housing for MIG, the public perceptions and acceptances on the self-build home/ DIY concept itself should be identified. To achieve this aim this study was conducted by using 2 method namely literature review and questionnaire survey. The questionnaire survey was distributed to 200 respondents randomly in Lembah Klang and were analysed through the SPSS program. The results show that respondents are very interested in buying a home that they can have with the appropriate size of the home. Average of them known about Do It Yourself (DIY) concept but none of respondent have implement this concept. Most of respondents were agreed that this DIY method suitable to be implemented in the housing industry in Malaysia and they were agreed that this concept can offer a cheaper housing price because the construction costs were reduced. Moreover by providing a basic home the owner can renovate their home according to their need and financial capability.

Keywords: affordable housing, Do It Yourself, self-Built home, perception, middle income group

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Authors: Albert T. Akume, Yahya M. Abdullahi

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

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

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Authors: I. K. Norziaton, M. D. Ridhuan, A. N. Nur Adura

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Assets misappropriation is becoming a major concern in organizations. Over the years, the Malaysian Auditor General has reported high occurrences of assets misappropriation at the federal, state and even local governments. It is surprising that assets misappropriation is not the only major concern in the public sector but it has also indicates a common sight in private sector. The current situation is rather disconcerting because employees are accountable to perform their jobs at the interest of the organizations. Various researches in the past has found that the incidence of assets misappropriation occurs when employees used the official vehicles, internet connection, computers, stationery and facilities for personal and family benefits. The issue of assets misappropriation has continue to be a major concern for organizations and its impact on the reputation and financial health can be enormous. Even though the issue seems to be trivial, yet, if it is left untreated, the symptoms will become an incurable disease that it will cause major leakages to the organizations. Hence, this paper highlights the common practices of assets misappropriation in public and private sectors. It also discusses why the acts of assets misappropriation occurs. Using the data through questionnaire survey, a total of 250 questionnaires were distributed to the private and public sectors employees. However 173 (69.2%) were returned and usable. This paper concludes that it is vital to promote awareness to the public and private sectors employees on issues of assets misappropriation. Assets misappropriation could have been avoided provided that the officers in charge are more vigilant, competent and practice high level of integrity in discharging their responsibilities towards the organizations.

Keywords: assets misappropriation, fraud, public sector, private sector

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Authors: Tareq M. Aziz Elven

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The issue of Human Rights enforcement in Southeast Asia has become the serious problem and attract the attention of international community. Principally, Association of Southeast Asian Nations (ASEAN) has mentioned the Human Rights as one of the focus and be a part of the ASEAN Charter in 2008. It was followed by the establishment of ASEAN Inter-Governmental Commission on Human Rights (AICHR). AICHR is the commission of Human Rights enforcement in Southeast Asia which has a duty, function, and an authority to conduct dissemination and protection of Human Rights. In the end of 2016, however, the function of protection mandated to AICHR have not achieved yet. It can be proved by several cases of Human Rights violation which still exist and have not settled yet. One of case which attracts the public attention recently is human rights violation towards Rohingya in Myanmar. Using the juridical-normative method, the research aims to examine the urgency of Human Rights court establishment in Southeast Asia region which able to issue the decision that binds the ASEAN members or the violating parties. The data shows that ASEAN needs to establish a regional court which intended to settle the Human Rights violations in ASEAN region. Furthermore, the research also highlights three strong factors should be settled by ASEAN for establishing human rights court i.e. the significant distinction of democracy and human rights development among the members, the strong implementation of non-intervention principle, and the financial matter to sustain the court.

Keywords: AICHR, ASEAN, human rights, human rights court

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Authors: Suci Lestari Yuana, Shofi Fatihatun Sholihah, Derarika Ensta Jesse

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Textile is one of buyer-driven industry which rely on label trust from the consumers. Most of textile manufacturers produce textile and textile products based on consumer demands. The company’s policy is highly depend on the dynamic evolution of consumers behavior. Recently, ecofriendly has become one of the most important factor of western consumers to purchase the textile and textile product (TPT) from the company. In that sense, companies from developing countries are encouraged to follow western consumers values. Some examples of ecolabel certificate are ISO (International Standard Organisation), Lembaga Ekolabel Indonesia (Indonesian Ecolabel Instution) and Global Ecolabel Network (GEN). The submission of national company to international standard raised a critical question whether this is a reflection towards the legitimation of global norms into national policy or it is actually a practical strategy of the company to gain global consumer. By observing one of the prominent textile company in Indonesia, this research is aimed to discuss what kind of impetus factors that cause a company to use ecolabel and what is the meaning behind it. Whether it comes from normative power or the strategy of the company. This is a qualitative research that choose a company in Sukoharjo, Central Java, Indonesia as a case study in explaining the pratice of ecolabelling by textitle company. Some deep interview is conducted with the company in order to get to know the ecolabelling process. In addition, this research also collected some document which related to company’s ecolabelling process and its impact to company’s value. The finding of the project reflected issues that concerned several issues: (1) role of media as consumer information (2) role of government and non-government actors as normative agency (3) role of company in social responsibility (4) the ecofriendly consciousness as a value of the company. As we know that environmental norms that has been admitted internationally has changed the global industrial process. This environmental norms also pushed the companies around the world, especially the company in Sukoharjo, Central Java, Indonesia to follow the norm. The neglection toward the global norms will remained the company in isolated and unsustained market that will harm the continuity of the company. So, in buyer-driven industry, the characteristic of company-consumer relations has brought a fast dynamic evolution of norms and values. The creation of global norms and values is circulated by passing national territories or identities.

Keywords: ecolabeling, waste management, CSR, normative power

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Authors: Maximilian Richter

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Implementing shared autonomous electric vehicles (SAEVs) has many advantages. The main advantages are achieved when SAEVs are offered as on-demand services by a fleet operator. However, autonomous mobility on demand (AMoD) will be distributed nationwide only if a fleet operation is economically profitable for the operator. This paper proposes a microscopic approach to modeling two implementation scenarios of an AMoD fleet. The city of Zurich is used as a case study, with the results and findings being generalizable to other similar European and North American cities. The data are based on the traffic model of the canton of Zurich (Gesamtverkehrsmodell des Kantons Zürich (GVM-ZH)). To determine financial profitability, demand is based on the simulation results and combined with analyzing the costs of a SAEV per kilometer. The results demonstrate that depending on the scenario; journeys can be offered profitably to customers for CHF 0.3 up to CHF 0.4 per kilometer. While larger fleets allowed for lower price levels and increased profits in the long term, smaller fleets exhibit elevated efficiency levels and profit opportunities per day. The paper concludes with recommendations for how fleet operators can prepare themselves to maximize profit in the autonomous future.

Keywords: autonomous vehicle, mobility on demand, traffic simulation, fleet provider

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Authors: Irmina Miernicka

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Nowadays, dress codes and widely understood appearance are becoming more important in the workplace. They are often used in the workplace to standardize image of an employer, to communicate a corporate image and ensure that customers can easily identify it. It is also a way to build professionalism of employer. Additionally, in many cases, an employer will introduce a dress code for health and safety reasons. Employers more often oblige employees to follow certain rules concerning their clothing, grooming, make-up, body art or even weight. An important research problem is to find the limits of the employer's interference with the external appearance of employees. They are primarily determined by the two main obligations of the employer, i. e. the obligation to respect the employee's personal rights and the principle of equal treatment and non-discrimination in employment. It should also be remembered that the limits of the employer's interference will be different when certain rules concerning the employee's appearance result directly from the provisions of laws and other acts of universally binding law (workwear, official clothing, and uniform). The analysis of this issue was based on literature and jurisprudence, both domestic and foreign, including the U.S. and European case law, and led the author to put forward a thesis that there are four main principles, which will protect the employer from the allegation of discrimination. First, it is the principle of adequacy - the means requirements regarding dress code must be appropriate to the position and type of work performed by the employee. Secondly, in accordance with the purpose limitation principle, an employer may introduce certain requirements regarding the appearance of employees if there is a legitimate, objective justification for this (such as work safety or type of work performed), not dictated by the employer's subjective feelings and preferences. Thirdly, these requirements must not place an excessive burden on workers and be disproportionate in relation to the employer's objective (principle of proportionality). Fourthly, the employer should also ensure that the requirements imposed in the workplace are equally burdensome and enforceable from all groups of employees. Otherwise, it may expose itself to grounds of discrimination based on sex or age. At the same time, it is also possible to differentiate the situation of some employees if these differences are small and reflect established habits and traditions and if employees are obliged to maintain the same level of professionalism in their positions. Although this subject may seem to be insignificant, frequent application of dress codes and increasing awareness of both employees and employers indicate that its legal aspects need to be thoroughly analyzed. Many legal cases brought before U.S. and European courts show that employees look for legal protection when they consider that their rights are violated by dress code introduced in a workplace.

Keywords: labor law, the appearance of an employee, discrimination in the workplace, dress code in a workplace

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Authors: Sima Modirkhamene, Arezoo Khezri

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The purpose of the present investigation was to probe the main motivational strategies Iranian school vs. institute teachers use in virtual and in-person classes to motivate students in learning the English language. Yet another purpose was to understand teachers’ perceptions about any modifications in their use of motivational strategies before and during/after the pandemic. For the purpose of this investigation, a total of 63 EFL teachers (35 female, 28 male) were conveniently sampled from schools and institutes in the cities of Mahabad and Sardasht. Moreover, for the interview phase of the study, 20 percent (n=16) of the sample was selected conveniently. The required data was gathered through a modified questionnaire (Cheng & Dornyei, 2007) consisting of 42 items and a set of semi-structured interviews. The outcomes of a set of non-parametric Mann-Whitney U tests demonstrated that presenting tasks properly in online classes and familiarizing learners with L2- related values in in-person classes came out as the most influential source of motivational strategies practiced by EFL school teachers. Additionally, it was found that proper teacher behavior(showing enthusiasm) in both in-person and virtual classes and presenting tasks properly in in-person classes were overwhelmingly endorsed by EFL institute teachers. The study also portrayed no statistically significant mean difference between school and institute EFL teachers’ overall use of motivational strategies in virtual and in-person classes. The interview results indicated that the strategies of designing tasks through technological aids, provision of videos, gamification techniques, assigning projects, and delivering formative online feedback were held in high regard during/after the pandemic due to the high reliance of teaching on the Internet connection. Meanwhile, the research has indicated that the spread of COVID-19 was the main reason for teachers’ modifications in motivational strategies, in response to the crisis of the pandemic, all educational contexts at all levels resorted to online education as a result their strategies were adapted to the new situation. The findings brought to light through this investigation provided initial evidence of the unintended consequences of the pandemic on teachers’ strategic choices. Therefore, to deliver a better education for the future, the study suggests more concentration on the quality of teaching as well as reframing the status quo of teaching .

Keywords: virtual teaching, motivational teaching strategies, teaching context, online education

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Authors: Mayowa Saheed Sanusi A, Musiliu Olushola Sunmonua, Abdulquadri Alakab Owolabi Raheema, Adeyemi Ikimot Adejokea

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The development of healthy cookies for health-conscious consumers cannot be overemphasized in the present global health crisis. This study was aimed to evaluate and model the influence of ripeness levels of papaya puree (unripe, ripe and overripe), oven temperature (130°C, 150°C and 170°C) and oven rack speed (stationary, 10 and 20 rpm) on physicochemical properties of papaya-based cookies using Response Surface Methodology (RSM). The physicochemical properties (baking time, cookies mass, cookies thickness, spread ratio, proximate composition, Calcium, Vitamin C and Total Phenolic Content) were determined using standard procedures. The data obtained were statistically analysed at p≤0.05 using ANOVA. The polynomial regression model of response surface methodology was used to model the physicochemical properties. The adequacy of the models was determined using the coefficient of determination (R²) and the response optimizer of RSM was used to determine the optimum physicochemical properties for the papaya-based cookies. Cookies produced from overripe papaya puree were observed to have the shortest baking time; ripe papaya puree favors cookies spread ratio, while the unripe papaya puree gives cookies with the highest mass and thickness. The highest crude protein content, fiber content, calcium content, Vitamin C and Total Phenolic Content (TPC) were observed in papaya based-cookies produced from overripe puree. The models for baking time, cookies mass, cookies thickness, spread ratio, moisture content, crude protein and TPC were significant, with R2 ranging from 0.73 – 0.95. The optimum condition for producing papaya based-cookies with desirable physicochemical properties was obtained at 149°C oven temperature, 17 rpm oven rack speed and with the use of overripe papaya puree. The Information on the use of puree from unripe, ripe and overripe papaya can help to increase the use of underutilized unripe or overripe papaya and also serve as a strategic means of obtaining a fat substitute to produce new products with lower production cost and health benefit.

Keywords: papaya based-cookies, modeling, response surface methodology, physicochemical properties

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Authors: Vahid Bayrami Rad

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In this research, common methods and techniques have been investigated with a focus on intelligent fault finding and monitoring systems in the oil industry. In fact, remote and intelligent control methods are considered a necessity for implementing various operations in the oil industry, but benefiting from the knowledge extracted from countless data generated with the help of data mining algorithms. It is a avoid way to speed up the operational process for monitoring and troubleshooting in today's big oil companies. Therefore, by comparing data mining algorithms and checking the efficiency and structure and how these algorithms respond in different conditions, The proposed (Bayesian) algorithm using data clustering and their analysis and data evaluation using a colored Petri net has provided an applicable and dynamic model from the point of view of reliability and response time. Therefore, by using this method, it is possible to achieve a dynamic and consistent model of the remote control system and prevent the occurrence of leakage in oil pipelines and refineries and reduce costs and human and financial errors. Statistical data The data obtained from the evaluation process shows an increase in reliability, availability and high speed compared to other previous methods in this proposed method.

Keywords: wireless sensors, petroleum equipment troubleshooting, Bayesian algorithm, colored Petri net, rapid miner, data mining-reliability

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Authors: Aiydh Aljeddani, Fran Martin

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The critical time in which we live requires rethinking of many potential ways in order to make the concept of sustainability and its principles an integral part of our daily life. One of these potential approaches is how to attract community institutions, such as the private sector, to participate effectively in the sustainability industry by supporting public schools to fulfill their duties. A collaborative community of practice can support this purpose and can provide a flexible framework, which allows the members of the community to participate effectively. This study, conducted in Saudi Arabia, aimed to understand the process of a collaborative community of practice of involving the private sector as a member of this community to integrate the sustainability concept in school activities and projects. This study employed a qualitative methodology to understand this authentic and complex phenomenon. A case study approach, ethnography and some elements of action research were followed in this study. The methods of unstructured interviews, artifacts, observation, and teachers’ field notes were used to collect the data. The participants were three secondary teachers, twelve chief executive officers, and one school administrative officer. Certain contextual conditions, as shown by the data, should be taken into consideration when policy makers and school administrations in Saudi Arabia desire to integrate sustainability into school activities. The first of these was the acknowledgement of the valuable role of the members’ personality, efforts, abilities, and experiences, which played vital roles in integrating sustainability. Second, institutional culture, which was not expected to emerge as an important factor in this study, has a significant role in the integration of sustainability. Credibility among the members of the community towards the integration of the sustainability concept and its principles through school activities is another important condition. Fourth, some chief executive officers’ understanding of Corporate Social Responsibility (CSR) towards contribution to sustainability agenda was shallow and limited and this could impede the successful integration of sustainability. Fifth, a shared understanding between the members of the community about integrating sustainability was a vital condition in the integration process. The study also revealed that the integration of sustainability could not be an ongoing process if implemented in isolation of the other community institutions such as the private sector. The study finally offers a number of recommendations to improve on the current practices and suggests areas for further studies.

Keywords: community of practice, public schools, private sector, sustainable development

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Authors: C. Nathanailides, S. Anastasiou, P. Logothetis, G. Kanlis

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Production parameters of gilt head sea bream fish farm such as feeding regimes, mortalities, fish densities were used to calculate the economic efficiency of six different aquaculture sites from West Greece. Samples of farmed sea bream were collected and lipid content, microbial load and filleting yield of the samples were used as quality criteria. The results indicate that Lipid content, filleting yield and microbial load of fish originating from different fish farms varied significantly with improved quality exhibited in fish farms which exhibited improved Feed conversion rates and lower mortalities. Changes in feeding management practices such as feed quality and feeding regimes have a significant impact on the financial performance of sea bass farms. Fish farms which exhibited improved feeding conversion rates also exhibited increased profitability. Improvements in the FCR explained about 13.4 % of the difference in profitability of the different aquaculture sites. Lower mortality and higher growth rates were also exhibited by the fish farms which exhibited improved FCR. It is concluded that best feeding management practices resulted in improved product quality and profitability.

Keywords: aquaculture economics, gilt head sea, production fish, feeding management

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Authors: Nur Mohammad Ali, Md. Shafiqul Alam, Jayanta Bhusan Deb, Nowrin Sharmin

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The past ten years have seen significant expansion in the aviation sector, which during the previous five years has steadily pushed emerging countries closer to economic independence. It is crucial to accurately forecast the potential demand for air travel to make long-term financial plans. To forecast market demand for low-cost passenger carriers, this study suggests working with low-cost airlines, airports, consultancies, and governmental institutions' strategic planning divisions. The study aims to develop an artificial intelligence-based methods, notably fuzzy inference systems (FIS), to determine the most accurate forecasting technique for domestic low-cost carrier demand in Bangladesh. To give end users real-world applications, the study includes nine variables, two sub-FIS, and one final Mamdani Fuzzy Inference System utilizing a graphical user interface (GUI) made with the app designer tool. The evaluation criteria used in this inquiry included mean square error (MSE), accuracy, precision, sensitivity, and specificity. The effectiveness of the developed air passenger demand prediction FIS is assessed using 240 data sets, and the accuracy, precision, sensitivity, specificity, and MSE values are 90.83%, 91.09%, 90.77%, and 2.09%, respectively.

Keywords: aviation industry, fuzzy inference system, membership function, graphical user interference

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Authors: Maznieda Mahjom, Rohaida Ismail, Masita Arip, Mohd Shaiful Azlan, Nor’Ashikin Othman, Hafizah Abdullah, nor Zahrin Hasran, Joshita Jothimanickam, Syaqilah Shawaluddin, Nadia Mohamad, Raheel Nazakat, Tuan Mohd Amin, Mizanurfakhri Ghazali, Rosmanajihah Mat Lazim

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COVID-19 outbreak is particularly detrimental to the mental health of everyone as well as leaving a long devastating crisis in the healthcare sector. Daily increment of COVID-19 cases and close contact, necessitating the testing of a large number of samples, thus increasing the workload and burden to laboratory personnel. This study aims to determine the prevalence of personal-, work- and client-related burnout as well as to measure the concentration of salivary cortisol among laboratory personnel in the main laboratories in Klang Valley, Malaysia. This cross-sectional study was conducted in late 2021 and recruited a total of 404 respondents from three laboratories in Klang Valley, Malaysia. The level of burnout was assessed using Copenhagen Burnout Inventory (CBI) comprising three sub-dimensions of personal-, work- and client-related burnout. The cut-off score of 50% and above indicated possible burnout. Meanwhile, salivary cortisol was measured using a competitive enzyme immunoassay kit (Salimetrics, State College, PA, USA). Normal levels of salivary cortisol concentration in adults are within 0.094 to 1.551 μg/dl (morning) and can be none detected to 0.359 μg/dl (evening). The prevalence of personal-, work- and client-related burnout among laboratory personnel were 36.1%, 17.8% and 7.2% respectively. Meanwhile, the abnormal morning and evening cortisol concentration recorded were 29.5% and 21.8% excluding 6.9%-7.4% missing data. While the IgA level is normal for most of the respondents, which recorded at 95.53%. Laboratory personnel were at risk of suffering burnout during the COVID-19 pandemic. Thus, mental health programs need to be addressed at the department and hospital level by regularly screening healthcare workers and designing an intervention program. It is also vital to improve the coping skills of laboratory personnel by increasing the awareness of good coping skill techniques. The training must be in an innovative way to ensure that the lab personnel can internalise the technique and practise it in real life.

Keywords: burnout, COVID-19, laborotary personnel, salivary cortisol

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Authors: Petre Voicu, Mircea Oaida, Radu Vasiu, Catalin Gheorghiu, Aurel Dumitru

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The present work deals with the way in which food and tobacco waste can be used in agriculture. As a result of the lack of efficient technologies for their recycling, we are currently faced with the appearance of appreciable quantities of residual organic residues that find their use only very rarely and only after long storage in landfills. The main disadvantages of long storage of organic waste are the unpleasant smell, the high content of pathogenic agents, and the high content in the water. The release of these enormous amounts imperatively demands the finding of solutions to ensure the avoidance of environmental pollution. The measure practiced by us consists of the processing of this waste in special installations, testing in pilot experimental perimeters, and later administration on agricultural lands without harming the quality of the soil, agricultural crops, and the environment. The current crisis of raw materials and energy also raises special problems in the field of organic waste valorization, an activity that takes place with low energy consumption. At the same time, their composition recommends them as useful secondary sources in agriculture. The transformation of food scraps and other residues concentrated organics thus acquires a new orientation, in which these materials are seen as important secondary resources. The utilization of food and tobacco waste in agriculture is also stimulated by the increasing lack of chemical fertilizers and the continuous increase in their price, under the conditions that the soil requires increased amounts of fertilizers in order to obtain high, stable, and profitable production. The need to maintain and increase the humus content of the soil is also taken into account, as an essential factor of its fertility, as a source and reserve of nutrients and microelements, as an important factor in increasing the buffering capacity of the soil, and the more reserved use of chemical fertilizers, improving the structure and permeability for water with positive effects on the quality of agricultural works and preventing the excess and/or deficit of moisture in the soil.

Keywords: ecology, soil, organic waste, fertility

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Authors: Mohammad Shoaib Khan, Abdul Sattar Bahalkani

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This research investigates the violence and their impact on SMEs in Sindh. The main objective of current research is to examine the women empowerment through women participation in small and medium enterprises in upper Sindh. The data were collected from 500 respondents from Kandhkot District, by using simple random technique. A structural questionnaire was designed as an instrument for measuring the impact of SMEs business in women empowerment in rural Sindh. It was revealed that the rural women is less confident and their husbands were always given them hard time once they are exposing themselves to outside the boundaries of the house. It was revealed that rural women have a major contribution in social, economic, and political development. It was further revealed that women are getting low wages and due to non-availability of market facility they are paying low wages. The negative impact of husbands’ income and having children at the age of 0-6 years old are also significant. High income of other household member raises the reservation wage of mothers, thus lowers the probability of participation when the objective of working is to help family’s financial need. The impact of childcare on mothers’ labor force participation is significant but not as the theory predicted. The probability of participation in labor force is significantly higher for women who lived in the urban areas where job opportunities are greater compared to the rural.

Keywords: empowerment, violence against women, SMEs, rural

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Authors: Ntokozo Dennis Ndwandwe

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The aim of the study was to explore the barriers facing the implementation of peace education as a strategy to combat violence in selected secondary schools in the Western Cape Province of South Africa. The problem that motivated this enquiry was the absence of stable peace and the increase of incidents of violence in schools. A qualitative approach was followed when conducting the study, and small samples of three case studies of secondary schools were used. Method used in collecting data consisted of semi-structured interviews; focus group interviews and observation. The participants consisted of the program manager for Quaker for Peace Centre (QPC), three principals, nine teachers, and fifteen learners. Data were analysed by transcribing, organising, marking by hand and coding that produced labels that allowed key points to be highlighted. Findings revealed that the effective implementation of peace education was being constrained by factors such as financial constraints, inadequate time allocated, lack of parental involvement, over work-loaded teachers, negative attitude and other societal influences. It is recommended that teachers should receive an ongoing training for peace education. Therefore, the government should prioritise and provide funds for peace education. In addition, parental involvement should be improved in order to enhance the implementation of peace education in selected secondary schools.

Keywords: barriers, implementation, conflict, peace, peace education, conflict resolution, violence

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Authors: Zuzana Fišerová, Marie Paseková

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Debt relief (also labelled personal bankruptcy) is a bankruptcy settlement method which was implemented into Czech legislation by the Insolvency Act (Act No. 182/2006 Coll. on Insolvency and its Resolution) on 1 January 2008. The need to implement the institute of personal bankruptcy arose from the excessive over-indebtedness of many inhabitants of the Czech Republic after the crisis that arose around 2008 and 2009. The contribution analyses the development in the manner in which households approach personal bankruptcy and assesses and surveys the differences between indebtedness among men and women. The first section analyses the development in numbers of filed personal bankruptcy petitions and the successfulness thereof; it likewise analyses the impact of other economic influences (regional differences, unemployment etc.). The differences between debtors in dependency to gender are also surveyed. A survey of insolvency proceedings for 664 persons whose insolvency proceedings were commenced in 2008 was conducted, whilst the data were acquired from the publicly accessible insolvency register. The hypothesis on the equality of the average debt level of men and women was tested when comparing indebtedness in dependency to debtor gender. At a significance level of 0.05, the test confirmed that the mean value of debt level for women is lower than the mean value of debt level for men. Through analysis of further results, it was found that the average level of debt among women was CZK 537 thousand, while the average level of creditor satisfaction reached 46.2%. Men in the monitored sample had an average level of reported receivables of CZK 652 thousand, satisfaction of their creditors reached 58.8%. The main changes in the institute of personal bankruptcy are then evaluated in the closing discussion, and the impacts of these changes for households are assessed. The development of legislation in the Czech Republic and practice are shifting towards broader usage of personal bankruptcy, especially insofar as it can now also be used by entrepreneurs. Furthermore, the amendment of the Insolvency Act has enabled married couples to apply for joint debt relief, which has improved the position of the marriage partner with lower income and who would not get permission for debt relief on his/her own (mostly women are at issue). In current practice, the condition of adequate income is also solved by the fact that another person (usually a family member) undertakes to donate a certain monthly sum throughout the duration of the debt relief. Personal bankruptcy can thus be completed also by individuals to whom it would previously have been denied by the court.

Keywords: debtor, households, insolvency act, over-indebtedness, personal bankruptcy

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Authors: Kwabena Asare, Ezekiel N. N. Nortey, Felix O. Mettle

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Modelling of extreme events has always been of interest in fields such as hydrology and meteorology. However, after the recent global financial crises, appropriate models for modelling of such rare events leading to these crises have become quite essential in the finance and risk management fields. This paper models the extreme values of the Ghana Stock Exchange All-Shares indices (2000-2010) by applying the Extreme Value Theory to fit a model to the tails of the daily stock returns data. A conditional approach of the EVT was preferred and hence an ARMA-GARCH model was fitted to the data to correct for the effects of autocorrelation and conditional heteroscedastic terms present in the returns series, before EVT method was applied. The Peak Over Threshold (POT) approach of the EVT, which fits a Generalized Pareto Distribution (GPD) model to excesses above a certain selected threshold, was employed. Maximum likelihood estimates of the model parameters were obtained and the model’s goodness of fit was assessed graphically using Q-Q, P-P and density plots. The findings indicate that the GPD provides an adequate fit to the data of excesses. The size of the extreme daily Ghanaian stock market movements were then computed using the Value at Risk (VaR) and Expected Shortfall (ES) risk measures at some high quantiles, based on the fitted GPD model.

Keywords: extreme value theory, expected shortfall, generalized pareto distribution, peak over threshold, value at risk

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Authors: Hasan Bulent Kantarci

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This paper examine how Zakat provide a fair income redistribution and struggle with poverty. To provide a fair income redistribution and struggle with poverty take place among the fundamental tasks of all countries. Each country seeks a solution for this problem according to their political, economical and administrative styles through applying various economic and financial policies. The same situation gets handled via zakat association in the Islam. Nowadays, we observe different versions of zakat in developed countries. The applications such as negative income tax denote merely a difference from the zakat being applied almost the same way under changed names. But the minimum values to donate the zakat (e.g. 85 gr. gold and 40 animals) get altered and various amounts are put into practice. It might be named as negative income tax instead of zakat, nonetheless, these applications are based on the Holy Koran and the hadith released 1400 years ago. Besides, considering the savage and slavery in the world at those times, we might easily recognize the true value of the zakat applied the first time then in Islamic system. Through zakat is enabled an income transfer by the government so that the poor could reach the minimum level of life standard. To whom the zakat would be donated was not left to people’s heart and encouraged to determine according to objective criteria. Since the zakat is obligatory, the transfer do not get forward by hand but via the government and get distributed, which requires a vast government organization. Through applying the zakat as it must be would achieve to reduce the poverty mostly and ensuring the fair income redistribution.

Keywords: Islamic finance, zakat, income redistribution, circle of poverty, negatif income tax

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Authors: Sarah Elmammeri

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This paper will represent the postcolonial every day in the journey of asylum seekers through the asylum process in the UK. It represents everyday borders, which are defined as everyday barriers, and obstacles facing asylum seekers and refugees in the host country. These everyday barriers can be legal, financial, social and educational under the umbrella of the racialized administrative border creating a package. The arguments build on a set of 21 semi-structured interviews in English and Arabic. The interviews were conducted in the UK, online via zoom lasting between 25 minutes and 2 hours with asylum seekers, refugees, Non-governmental organisations workers and volunteers. The interviews focus on the meaning of borders both physical and metaphorical and ways to challenge the ongoing postcolonial everyday border practices. The findings conclude that these barriers are there deliberately and intentionally to target asylum seekers and limit their legal right to claim asylum in a form of policy and regulations. People in the asylum process, NGO workers, and refugees relate to this aspect of the everyday borders. Second, these barriers come intertwined together creating a structure that interferes with the daily life of an asylum seeker and later affects people with refugee status creating racialised barriers starting with the structural and official form of it: the asylum process. These structural barriers will be linked forming a multi-level barrier enhancing the racialisation of people who are categorised and selected.

Keywords: everyday borders, asylum policies, inclusion and exclusion, refugees and asylum seekers

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Authors: Mohammad Namazi, Mohammad Sadeghzadeh Maharluie

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Predicting earnings management is vital for the capital market participants, financial analysts and managers. The aim of this research is attempting to respond to this query: Is there a significant difference between the regression model and neural networks’ models in predicting earnings management, and which one leads to a superior prediction of it? In approaching this question, a Linear Regression (LR) model was compared with two neural networks including Multi-Layer Perceptron (MLP), and Generalized Regression Neural Network (GRNN). The population of this study includes 94 listed companies in Tehran Stock Exchange (TSE) market from 2003 to 2011. After the results of all models were acquired, ANOVA was exerted to test the hypotheses. In general, the summary of statistical results showed that the precision of GRNN did not exhibit a significant difference in comparison with MLP. In addition, the mean square error of the MLP and GRNN showed a significant difference with the multi variable LR model. These findings support the notion of nonlinear behavior of the earnings management. Therefore, it is more appropriate for capital market participants to analyze earnings management based upon neural networks techniques, and not to adopt linear regression models.

Keywords: earnings management, generalized linear regression, neural networks multi-layer perceptron, Tehran stock exchange

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Authors: Prakash Chittoor

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In the recent past, it is realised especially in third sector that employing social innovation is crucial for achieving viable and long lasting social transformation. In this context, education is one among many sectors that have opened up itself for such move where employing social innovation emerges as key for reaching out to the excluded sections who are often failed to get support from either policy or market interventions. In fact, education is being as a crucial factor for social development is well understood at both academic and policy level. In order to move forward to achieve better results, interventions from multiple sectors may be required as its reach cultivates capabilities and skill of the deprived in order to ensure both market and social participation in the long run. Despite state’s intervention, it is found that still millions of children are out of school due to lack of political will, lapses in policy implementation and neoliberal intervention of marketization. As a result, universalisation of elementary education became as an elusive goal to poor and marginalised sections where state obtain constant pressure by corporate sector to withdraw from education sector that led convince in providing quality education. At this juncture, the role of third sector organizations plays is quite remarkable. Especially, it has evolved as a key player in education sector to reach out to the poor and marginalised in the far-flung areas. These organisations work in resources constrain environment, yet, in order to achieve larger social impact they adopt various social innovations from time to time to reach out to the unreached. Their attempts not only limited to just approaching the unreached children but to retain them for long-time in the schooling system in order to ripe the results for their families and communities. There is a need to highlight various innovative ways adopted and practiced by the third sector organisations in India to achieve the elusive goal of universal access of primary education with quality. With this background, the paper primarily attempts to present an in-depth understanding about innovative practices employed by third sectors organisations like Isha Vidya through government schools adoption programme in India where it engages itself with government and build capabilities among the government teachers to promote state run schooling with quality and better infrastructure. Further, this paper assess whether such innovative attempts succeeded in to achieving universal quality education in the areas where it operates and draws implications for State policy.

Keywords: school education, third sector organisations, social innovation, market domination

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Authors: Raiya Kishwar Ashraf

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The National University, the largest public educational institution in Bangladesh, recently made it mandatory for all students to study a course in Bangladesh‘s history of the 1971 Liberation War. This introduction was accompanied by massive political, financial and academic movement that allocated resources towards achieving greater awareness of the country‘s spirit, goals of liberation and patriotism among the youth. This study argues that the infrastructure and political economy around the course heavily politicizes the education system and more specifically the teaching and learning the process. By conducting a qualitative study in three affiliated colleges under the National University, this study aimed to explore the extent to which politicization affected higher education curriculum, especially history education in Bangladesh. The findings revealed significant levels of politicization and structural constraints present in the process that restricts the teacher and student engagement with course materials. The results of this study are useful for curriculum designers and higher education teachers and staffs who wish to develop content and deliver education that promotes critical inquiry among students. The findings further shed light on the importance of identifying and addressing political influences in education curriculum and programme development.

Keywords: Bangladesh higher education, critical thinking, curriculum politicization, history curriculum, National University, teaching-learning method

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Authors: Athena Pedro, Laura Bradfield, Mike Dare, Zandile Bantwana, Ashley Nayman

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The purpose of the research was to explore mother’s unique experience and knowledge of mothering in the first 1000 day of their child’s life, from birth to age 2. The study used a qualitative research methodology with an exploratory research design. A sample of 12 mothers was used, comprising different racial backgrounds from low income areas in the Western Cape. The data was collected by means of semi-structured, in-depth interviews, which were transcribed verbatim, analysed using Braun’s and Clark’s (2006) six phases of thematic analysis. Some of the findings revealed that the mothers who participated in the study were consistently unable to feed their children and themselves due to profound and extreme situations of poverty, stress, and lack of infrastructural support. These mothers residing in low-income communities are not adequately supported both financially and socially and are often unable to meet the needs of their infants within the first 1000 days. Given the consequential nature of this period, it is imperative that mothers are able to access such support. Single mothers especially are in need of social and financial support. Appropriate interventions are required to assist mothers generally but more specifically, mothers who have children within the first 1000 days of life. By implementing appropriate interventions to address these needs, it will assist mothers to ensure optimal developmental growth of their children. This will positively impact the developmental trajectory of children in South Africa.

Keywords: caring, economic hardship, first one thousand days, mothers

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