Search results for: discouraged borrowers

Authors: Javier Sanchez Vidal, Ciarán Mac An Bhaird, Brian Lucey

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This study examines the decision by firm owners not to apply for intermediated debt due to a perception that their application will be rejected. Based on a sample of SMEs in 9 European countries over the period 2009-2011, we examine potential explanatory factors for borrower discouragement, including firm, macroeconomic, regulatory and banking industry variables. Compared with firms that applied for bank loans, discouraged borrowers are smaller, younger, have declining turnover and an increasing debt/assets ratio. Perceived willingness of banks to lend rather than the company’s own credit history is more important to encourage applications. Perceptions of refusal are procyclical and may be self-perpetuating. Increased concentration in the banking sector reduces discouragement, indicating the importance of relationship banking. Transmission of macro effects through the banking system and economic environment may also lead to higher levels of discouragement. A good regulatory scheme is also advisable, either for the lenders or the borrowers (overall the good ones).

Keywords: entrepreneurial finance, discouraged borrowers, banking, financial crisis, eurozone

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Authors: Charawee Butbumrung

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This research aim to study the financial service of the Thailand financial Institution, second is to identify "best practices" offered by four financial institutions, namely, Kasikornthai Bank, Bangkok Bank, Siam Commercial Bank, and Thanachart Bank. In-depth interviews with managers of financial institution and borrowers reveal best practices from each financial institution. Close monitoring of and a close relationship with borrowers appear to be important for early detection of any problem. Another aspect that may be important is building up loyalty and developing reliability among members. A close and informal relationship with borrowers may also help in monitoring and early detection of problems that may arise in non-repayment of loans. Other factors that may be considered important to the success of a financial service scheme are cooperation and coordination among various agencies that provide additional support to borrowers. Indirectly, these support systems contribute to the success of a SME in Thailand.

Keywords: best practices, financial service, financial institution, SME in Thailand

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Authors: Ginés Hernández-Cánovas, Mª Camino Ramón-Llorens, Johanna Koëter-Kant

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This paper uses a survey data-set of 837 Spanish SMEs to analyze the association between borrower discouragement and prior firm´s strategic decisions, while controlling for firm and owner characteristics. While existing literature has neglected factors limiting the demand for resources by an overreliance on arguments which attempt to explain the existence of discouraged borrowers solely in terms of lack of access to supply of credit. The objective of this paper is to show that factors limiting the demand for resources and, therefore, reducing the availability of funds, can be traced back to the firm manager´s decision. Our hypothesis is that managers that undertake strategic decisions seeking growth or improvement in their business performance participate more in the banking market than those showing contentment with their current business situation. Our results shows that SMEs that undertake an active role in research and development activities and that achieve improvements in the operating performance of their business are less likely to be discouraged from applying for a loan. Who needs credit and who applies for credit is important for firms, prospective lenders and policymakers interested in the financial health of these firms. Credit constrained firms are less likely to invest in R&D and to introduce new products, possibly harming long-term economic growth. Knowing how important borrower discouragement is in Europe, is important for judging the priority which should be attached to government policies aimed at reducing its effects. For example, policy makers could encourage the transparency about credit eligibility and conditions in order to reduce discouragement.

Keywords: discouragement, financial constraints, SMEs financing

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Authors: Olivier Mesly

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This article examines the likelihood of deception on the part of borrowers wishing to obtain credit from institutional or private lenders. In our first study, we identify five explanatory variables that account for nearly forty percent of the propensity to act deceitfully: a poor credit history, debt, risky behavior, and to a much lesser degree, irrational behavior and disconnection from the bundle of needs, goals, and preferences. For the second study, we remodeled the initial questionnaire to adapt it to the needs of institutional bankers and borrowers, especially those that engage in money on-line peer-to-peer lending, a growing business fueled by the COVID pandemic. We find that the three key psychological variables that help to indirectly predict the likelihood of deceitful behaviors and possible default on loan reimbursement, i.e., risky behaviors, ir-rationality, and dis-connection, interact with each other to form a loop. This study presents two benefits: first, we provide evidence that it is to some degree possible to tighten control over lending practices. Second, we offer a pragmatic tool: a questionnaire, that lenders can use or adapt to gauge potential borrowers’ deceit, notably by combining their results with standard hard-data measures of risk.

Keywords: bundle of needs, default, debt, deception, risk, peer-to-peer lending

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Authors: Anjali Dewi Krishnan

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This paper attempts to explore the factors causing student loan defaults among NHEFC borrower besides measuring the enforcement actions that have been took by NHEFC to improve repayment rate. It starts by reviewing the causes of student loan default from the perspective of the loan borrowers besides finding out about the effectiveness of approaches taken by NHEFC (National Higher Education Fund Corporation) until now in order to increase the repayment rate and recover student loan default. The results gathered from the research used to investigate or identify the relationship between job statuses, gender, and ethnicity of the borrowers with repayment status, enforcement from the NHEFC side in the sense of student loan repayment; and respondent's opinion about enforcement in encouraging repayment of student loan and recover loan default. A combination of unemployment, financial constraint, inefficient repayment method and some other reasons of student loan defaults were discovered through this research. It finishes by presenting the reality whereby a student loan default is a result of inability to pay back and not about willingness to pay back.

Keywords: loan default, loan recovery, loan repayment, national higher education fund corporation

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Authors: Gabriele Iannotta

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This paper investigates credit cycles by means of an experiment based on a Kiyotaki & Moore (1997) model with heterogeneous expectations. The aim is to examine how a credit squeeze caused by high lender-level risk perceptions affects the real prices of a collateralised asset, with a special focus on the macroeconomic implications of rising price volatility in terms of total welfare and the number of bankruptcies that occur. To do that, a learning-to-forecast experiment (LtFE) has been run where participants are asked to predict the future price of land and then rewarded based on the accuracy of their forecasts. The setting includes one lender and five borrowers in each of the twelve sessions split between six control groups (G1) and six treatment groups (G2). The only difference is that while in G1 the lender always satisfies borrowers’ loan demand (bankruptcies permitting), in G2 he/she closes the entire credit market in case three or more bankruptcies occur in the previous round. Experimental results show that negative risk-driven supply shocks amplify the volatility of collateral prices. This uncertainty worsens the agents’ ability to predict the future value of land and, as a consequence, the number of defaults increases and the total welfare deteriorates.

Keywords: Behavioural Macroeconomics, Credit Cycle, Experimental Economics, Heterogeneous Expectations, Learning-to-Forecast Experiment

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Authors: Ankur Mehra, M. V. Shivaani

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With increasing digitization, the world is coming closer, not only in terms of informational flow but also in terms of capital flows. And micro-finance institutions (MFIs) have perfectly leveraged this digital world by resorting to the innovative digital social peer-to-peer (P2P) lending platforms, such as, Kiva. These digital P2P platforms bring together micro-borrowers and lenders from across the world. The main objective of this study is to understand the funding preferences of social investors primarily from developed countries (such as US, UK, Australia), lending money to borrowers from rural India at zero interest rates through Kiva. Further, the objective of this study is to increase awareness about such a platform among various MFIs engaged in providing micro-loans to those in need. The sample comprises of India based micro-loan applications posted by various MFIs on Kiva lending platform over the period Sept 2012-March 2016. Out of 7,359 loans, 256 loans failed to get funded by social investors. On an average a micro-loan with 30 days to expiry gets fully funded in 7,593 minutes or 5.27 days. 62% of the loans raised on Kiva are related to livelihood, 32.5% of the loans are for funding basic necessities and balance 5.5% loans are for funding education. 47% of the loan applications have more than one borrower; while, currency exchange risk is on the social lenders for 45% of the loans. Controlling for the loan amount and loan tenure, the analyses suggest that those loan applications where the number of borrowers is more than one have a lower chance of getting funded as compared to the loan applications made by a sole borrower. Such group applications also take more time to get funded. Further, loan application by a solo woman not only has a higher chance of getting funded but as such get funded faster. The results also suggest that those loan applications which are supported by an MFI that has a religious affiliation, not only have a lower chance of getting funded, but also take longer to get funded as compared to the loan applications posted by secular MFIs. The results do not support cross-border currency risk to be a factor in explaining the determinants of loan funding. Finally, analyses suggest that loans raised for the purpose of earning livelihood and education have a higher chance of getting funded and such loans get funded faster as compared to the loans applied for purposes related to basic necessities such a clothing, housing, food, health, and personal use. The results are robust to controls for ‘MFI dummy’ and ‘year dummy’. The key implication from this study is that global social investors tend to develop an emotional connect with single woman borrowers and consequently they get funded faster Hence, MFIs should look for alternative ways for funding loans whose purpose is to meet basic needs; while, more loans related to livelihood and education should be raised via digital platforms.

Keywords: P2P lending, social investing, fintech, financial inclusion

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Authors: Sudipto Sarkar

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Capital is the primary fuel for starting and running a business. Since capital is crucial for every business, entrepreneurs must successfully acquire adequate capital for executing their projects. Sources for the necessary capital for entrepreneurs include their own personal funds from existing bank accounts, or lines of credit or loans from banks or financial institutions, or equity funding from investors. The most commonly selected source of capital is a bank loan. However, acquiring a loan by any entrepreneur requires adhering to strict guidelines, conditions and norms. Because not only they have to show evidence for viability of the project, but also the means to return the acquired loan. On the bank’s part, it requires that every loan officer performs a thorough credit appraisal of the prospective borrowers and makes decisions about whether or not to lend money, how much to lend, and what conditions should be attached to it. Moreover, these credit decisions in general were often based on biases, analytical techniques, or prior experience. A loan can either turn out to be good or poor, irrespective of what type of credit decisions were followed. However, based on prior experience, the loan officers seem to differentiate between a good and a bad loan by examining the borrower’s credit history, pattern of borrowing, volume of borrowing, frequency of borrowing, and reasons for borrowing. As per an article written by Maureen Wallenfang on postcrescent.com dated May 10, 2010, it is observed that borrowers with good credit, solid business plans and adequate collateral security were able to procure loans very easily in the Fox Valley region. Since loans are required to run businesses, and also with the propensity of loans to become bad, loan officers tend to be very critical and cautious before approving and disbursing the loans. The pressure to be critical and cautious, at least partly, is a result of increased scrutiny by the Securities and Exchange Commission. As per Wall Street Journal (Sidel & Eaglesham, March, 3 2011, online), the Securities and Exchange Commission scrutinized banks that have restructured troubled loans in order to make them appear healthier than they really are. Therefore, loan officers’ loan criteria are of immense importance for entrepreneurs and banks alike.

Keywords: entrepreneur, loans, marketing, banks

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Authors: Iris Lavalle Acejo, Helen Sampson

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Drawing from the perspectives of female seafarers, this article offers an analysis of an empirical investigation of the mechanisms by which women are excluded from working on board cargo ships. Female seafarers currently make up about 1% of seafarers in the global cargo shipping industry. As female presence onboard continues to constitute a small proportion of the total crew, we consider their professional advancement in comparison with their male counterparts and the ways in which they are discouraged from entering, or remining within, the industry. With interactions at work severely constrained by the traditionally masculine working culture of the ship, the study hopes to provide insights on the mechanisms in which they face and navigate barriers as they both accommodate and resist gendered differences onboard.

Keywords: female seafarers, glasswalls, genderbarriers, genderedworkplaces

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Authors: Saud Al Mahdi

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Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies.

Keywords: beta, alpha, active portfolio management, trading strategies

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Authors: Chandan M. S., Darshan G. A., Vyshnavi, Abhishek T.

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In the evolving world of technology and digital assets, non-fungible tokens (NFTs) have emerged as the latest advancement. These digital assets represent ownership of intangible items and hold significant value. Unlike cryptocurrencies, like Ethereum or Bitcoin, NFTs cannot be exchanged due to their nature. Each NFT has an indivisible value. NFTs not only pave the way for financial services but also open up fresh opportunities for creators, buyers and artists. To revolutionize financing in the DeFi space, this proposed approach utilizes NFTs generated from digital arts. By eliminating intermediaries, this innovative method ensures trust and security in transactions. The idea entails automating borrower-lender interactions through contracts while securely storing data using blockchain technology. Borrowers can obtain funding by leveraging assets such as estate, artwork and collectibles that are often illiquid. The key component of this system is contracts that independently execute lending agreements and collateral transfers within predefined parameters. By leveraging the Ethereum blockchain, this project aims to provide consumers with access to a platform offering a wide range of financial services. The demonstration illustrates how NFT lending and borrowing is managed through contracts, providing a secure and trustworthy transaction environment.

Keywords: blockchain, defi, NFT, ethereum, marketplace

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Authors: Narvada Ramdhany, Reena Bhattu Babajee

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The 2007-2008 Global Financial Crisis which initiated in the US had a global outreach, impacting the financial and banking sectors of several economies; such as European countries, developing and emerging countries in Asia, Latin America and Africa. European countries represent one of the main sources of export earnings for Mauritius and given that Europe has been quite profoundly affected by the crisis, the Mauritian economy also could have been negatively affected. This study is being undertaken to see if the crisis had a spill-over effect on the Mauritian banking system. It will also enable to determine if the measures put in place to counteract the crisis by regulatory authorities have been effective. The study will be carried out on 17 banks and data will be collected over a time frame of seven years; with a pre-crisis period from 2005 to 2007 and a post-crisis period from 2009 to 2011. The impact of the crisis as such will be measured through the financial performance of the banks, using financial ratios and regression analysis. The results show that during the period concerned Mauritian banks have remained solvent and relatively stable. One of the main explanations put forward to explain the resilience of the banking sector to the crisis is that foreign exposure was relatively low. Another explanation put forward is that Mauritian banks normally transact mainly with prime borrowers unlike most the banks which were affected by the financial crisis.  

Keywords: global financial crisis, banking sector, financial performance, Mauritian banks

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Authors: Sonia Anand Knowlton

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In many ways, judges can express their personality within and beyond their role as a judge. Judges can use their unique backgrounds and life experiences to inform their legal reasons and can also participate in certain extrajudicial activities outside of their role on the bench. For many judges, the line between the expression of this judicial personality, on the one hand, and the consequence of jeopardizing the public’s perception of their impartiality, on the other, is ambiguous if not wholly unclear. In the famous Canadian decision R v RDS, for instance, a Black judge who was hearing a case about police violence against a Black person was accused of being biased after she acknowledged that her community’s racial dynamics may have impacted the police’s conduct. Many within the legal community might find comfort in the belief that judges do not need to bring their ‘personality’ to the bench in order to uncover the law’s truths and impartially apply it. Indeed, and for a good reason, judges are often discouraged from allowing their personality to shine through in their role as a judge – because the expression of judicial personality can compromise the public perception of the impartiality of the administration of justice. This paper evaluates the theoretical constraints on the expression of judicial personality as a tool for legal decision-making and argues that judges from minority groups are held to a higher level of impartiality. Specifically, minority judges are disproportionately constrained from 1) using life experience to apply the law and 2) engaging in certain extrajudicial activities.

Keywords: judging, legal decision making, judicial personality, extrajudicial activities

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Authors: Gil Yaron, Rebecca Gordon, John Best, Sunil Choudhary

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There have been a number of studies examining the impact of microfinance; however, the magnitude of impact varies across regions, and there has been mixed evidence due to the differences in the nature of interventions, context and the way in which microfinance is implemented. The Rojiroti approach to microfinance involves the creation of women's self-help groups (SHGs), rotated loans from savings and subsequent credit from a Bihar-based NGO. Rojiroti serves customers who are significantly poorer and more marginalised than those typically served by microfinance in India. In the data analysed, more than 90 percent of members are from scheduled caste and tribes (62 percent) or other disadvantaged castes. This paper analyses the impact of Rojiroti microfinance using panel data on 740 new SHG members and 340 women in matched control sites at baseline and after 18 months. We consider changes in assets, children's education, women's mobility and domestic violence among other indicators. These results show significant gains for Rojiroti borrowers relative to control sites for important, but not all, variables. Comparison with more longstanding SHGs (at least 36 months) helps to explain how the borrowing patterns of poor and marginalised SHG members evolve. The context of this intervention is also important; in this case, innovative microfinance is provided too much poorer and marginalised women than is typically the case, and so the results seen are in contrast to numerous studies that show little or no effect of microfinance on the lives of their clients.

Keywords: microfinance, gender, impact, pro-poor

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Authors: Achmad Muchaddam Fahham, Sony Hendra Permana

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For rural communities and micro-entrepreneurs, access to formal financial institutions is very difficult. So, borrowing to moneylenders is the most possible way to fulfill their needs. But actually it does not solve their problems, precisely their problems are increasing because they have to pay at very high-interest rates. For this reason, microfinance institution is very important as a solution for rural communities and micro-entrepreneurs who need loans to fulfill their needs. This paper aims to describe the role of micro waqf banks in Indonesia as an alternative funding for rural communities and micro-entrepreneurs. This research is descriptive using a qualitative approach. The interview technique was also carried out with key informants who understood sharia microfinance institutions. The results of the study revealed that the micro waqf bank is Islamic microfinance institutions which targeted the micro business sector by channeling small financing with a maximum financing of Rp1 million. The funding of this micro waqf bank comes from donors who donate funds through the Amil Zakat institution. The margins imposed on borrowers are as high as 3 percent per year, with payment schemes in installments every week, so it is made easier for borrower. In addition, financing is followed by training and mentoring so that borrower is able to utilize the loan for productive business activities. In the end, it is hoped that this micro waqf bank can become an incubator for micro businesses in Indonesia.

Keywords: micro business, micro waqf banks, micro-entrepreneurs, Amil Zakat institution

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Authors: Ali Fuad Ashour

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Introduction: Contrary to the common belief that physical training for multiple sclerosis (MS) patients might exacerbate fatigue and provoke other symptoms of the illness, it is now widely accepted that exercise can be actually beneficial in terms of activities of daily living, reduced fatigue, and improved quality of life. The aim of this study was to assess the attitude of MS patients toward exercise. Methodology: 112 MS patients who were recruited from the local community participated in this study. We utilised a self-developed questionnaire targeting attitudes and perceptions of MS patients towards physical exercise. The questionnaire was piloted and tested for validity and reliability. Results: Before being diagnosed with MS, 49.9% of our MS patients’ respondents used to engage in different types of physical activities and sports, namely aerobics/walking (35.3%), stretching exercise (18.7%), and strengthening exercise (11.4%). After being diagnosed with MS, 40.8% of our sample showed determination to remain physically active. The interest in sports activities was consistent after the diagnoses with MS and included aerobics/walking (33.8%), stretching exercise (22.6%), and strengthening exercise (19.7%). Discussion: The Kuwaiti respondents thought that lack of encouragement was the main reason for them not exercise. Aptly put, if they try to exercise, they will be discouraged by the loved ones lest the worse happens. On the other side, British patients are generally aware of the benefits of physical and mental health-promoting activities; they can seek help from a wide range of professionals and are more actively involved in the management of their condition. It is therefore important that the benefits of physical activity are promoted among MS patients, and that attitude towards MS and MS patients is changed through education.

Keywords: perception, multiple sclerosis, exercise, physical training

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Authors: S. O. Bamigboye, P. M. Tshisikhawe, P. J. Taylor

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Cycads are the most threatened plant species in the world. In South Africa over 70% of cycads are threatened with extinction with 60% of them as a result of bark harvest of these highly endangered species for medicinal purposes. 3 cycads species in South Africa have gone extinct due to bark harvest for medicinal purpose. This practice keeps increasing biodiversity loss within the nation and this has generated concern for conservationists on different way to discover how people go about this practices and how it can be discouraged. Studies have revealed this practice to be common practice in provinces like Kwazulu natal, Eastern cape, Gauteng, Mpumalanga, but studies in the past have not really focused on cycads bark harvest in Limpopo province. In this study we use the indigenous knowledge to discover a particular location within the Soutpansberg Montane (a major biodiversity hotspot in Limpopo Province in South Africa) in Vhembe district in Limpopo province not yet conserved where we have a highly disturbed population of cycads. Several individuals of cycads species have been highly damaged due to bark harvest in this location. We are about proposing that such areas needs attention for conservation to prevent the loss of these species endemic to this particular location. Our study hereby reveals that cycads bark harvest which is a major threat to African cycads is also a common practice in Limpopo Province in South Africa. Rigorous conservation action is required to discourage this practice in order to prevent further biodiversity loss in this region.

Keywords: bark harvest, Cycads, conservation, extinction, Limpopo

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Authors: Yingjin Cui, Xue Bai, Serena Reese

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Student engagement and student interest during class instruction are important conditions for active learning. Engagement, which has an important relationship with learning motivation, influences students' levels of persistence in overcoming challenges. Lack of student engagement and absence from face-to-face lectures and tutorials, in turn, can lead to poor academic performance. However, keeping students motivated and engaged in the learning process in different instructional modes poses a significant challenge; students can easily become discouraged from attending lectures and tutorials across both online and face-to-face settings. Many factors impact students’ engagement in the learning process. If you want to keep students focused on learning, you have to invite them into the process of helping themselves by providing an active learning environment. Active learning is an excellent technique for enhancing student engagement and participation in the learning process because it provides means to motivate the student to engage themselves in the learning process through reflection, analyzing, applying, and synthesizing the material they learn during class. In this study, we discussed how to create an active learning class (both face-to-face and synchronous online) through engagement activities, including reflection, collaboration, screen messages, open poll, tournament, and transferring editing roles. These activities will provide an uncommon interactive learning environment that can result in improved learning outcomes. To evaluate the effectiveness of those engagement activities in the learning process, an experimental group and a control group will be explored in the study.

Keywords: active learning, academic performance, engagement activities, learning motivation

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Authors: Tan Swee Liang

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This paper studies the two-way relationship between fintech credit and banking efficiency using the Generalized panel Method of Moment (GMM) estimation in structural equation modeling (SEM). Banking system efficiency, defined as its ability to produce the existing level of outputs with minimal inputs, is measured using input-oriented data envelopment analysis (DEA), where the whole banking system of an economy is treated as a single DMU. Banks are considered an intermediary between depositors and borrowers, utilizing inputs (deposits and overhead costs) to provide outputs (increase credits to the private sector and its earnings). Analysis of the interrelationship between fintech credit and bank efficiency is conducted to determine the impact in different country groupings (ASEAN, Asia and OECD), in particular the banking system response to fintech credit platforms. Our preliminary results show that banks do respond to the greater pressure caused by fintech platforms to enhance their efficiency, but differently across the different groups. The author’s earlier research on ASEAN-5 high bank overhead costs (as a share of total assets) as the determinant of economic growth suggests that expenses may not have been channeled efficiently to income-generating activities. One practical implication of the findings is that policymakers should enable alternative financing, such as fintech credit, as a warning or encouragement for banks to improve their efficiency.

Keywords: fintech lending, banking efficiency, data envelopment analysis, structural equation modeling

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Authors: Abubakar Muhammad Umar, Nur Adeela Yasid, Hassan Mohd Daud, Mohd Yunus Abd Shukor

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Glyphosate [N-(phosphonomethyl) glycine] is among the most broadly and generally recognised broad-spectrum herbicides used in agriculture due to its low cost and effectiveness in weed management. The pollution of glyphosate in the aquatic environment can be via water run-off from agricultural lands, or by spray drift, aerial spraying or due to industrial discharge, which may be seen as a threat to aquatic biota. Fish is one of the best organisms to study the toxicological aspects of glyphosate. A 49 days experiment was conducted under laboratory conditions to ascertain the effects of technical grade glyphosate on behaviour and histopathological conditions in the gills of red hybrid tilapia using a light inverted microscope. Air gasping, erratic swimming, fin movement, mucus secretion, hemorrhages, and loss of scales were observed as behavioural changes in the exposed fish. There was no histopathological complication observed in the gill of the control fish, but various levels of alterations were seen in the gills of the fish exposed to glyphosate herbicide. These include lifting of primary lamella, congestion of secondary lamella, as well as hyperplasia in both primary and secondary gill lamella, and hypertrophy of secondary gill lamella. Based on the findings of this study, glyphosate herbicide exerts behavioural and histopathological changes in the gill of red hybrid tilapia, and therefore, the fish is considered a good bioindicator in aquatic environment monitoring. Excessive usage of glyphosate herbicide near aquatic habitats should be discouraged.

Keywords: behavioural, histopathological, Oreochromis niloticus, glyphosate

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Authors: John Bankier

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Development of academic English occurs not only in communities of practice but also within wider social networks, referred to by Zappa-Hollman and Duff as individual networks of practice. Such networks may exist whether students are developing academic English in English-dominant contexts or in contexts in which English is not a majority language. As yet, little research has examined how newcomers to universities interact with a variety of social ties in such networks to receive academic and emotional support as they develop the academic English necessary to succeed in local and global academia. The one-year ethnographic study described in this presentation followed five Japanese university students enrolled on an academic English program in their home country. We graphically represent participants’ individual networks of practice related to academic English and display the role of interaction in these networks to socialization. Specific examples of academic practices will be linked to specific instances of social interaction. Interaction supportive of the development of academic practices often occurred during unplanned interactions outside the classroom and among small groups of close friends who were connected to each other in more than one way, such as those taking multiple classes together. These interactions occurred in study spaces, in hallways between class periods, at lunchtimes, and online. However, constraints such as differing accommodation arrangements, class scheduling and the hierarchical levelling of English classes by test scores discouraged some participants both from forming strong ties related to English and from interacting with existing ties. The presentation will briefly describe ways in which teachers in all contexts can maximise interaction outside the classroom.

Keywords: academic, english, practice, network

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Authors: Usama Bin Zubair, Muhammad Azeem

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Introduction: Depression has been one of the most commonly diagnosed mental health disorders in Pakistan. A Census conducted by the government of Pakistan in 2017 showed that more than 10000 trans-genders live in Pakistan. HIV, illicit substance use and mental health issues, including depression, have been the main health problems faced by them. Trans-gender population has been suffering from depressive illness more than normal population all over the world. Aim: To assess the prevalence of depression among the transgender population and analyze the relationship of socio-demographic factors with depression. Subjects and Methods: The sample population comprised of one hundred and forty-two transgender people of Rawalpindi and Islamabad. Beck depressive inventory II (BDI-II) was used to record the presence and severity of the depressive symptoms. Depressive symptoms were categorized as mild, moderate and severe. Relationship of the age, smoking, family income, illicit substance use and education were studied with the presence of depressive symptoms among these transgender people of twin cities of Pakistan. Results: A total of 142 transgender people were included in the final analysis. The mean age of the study participants was 39.55 ± 6.18. Out of these, 45.1% had no depressive symptoms while 31.7% had mild, 12.7% had moderate and 10.6% had severe depressive symptomatology. After applying the binary logistic regression, we found that the presence of depressive symptoms had a significant association with illicit substance use among the target population. Conclusion: This study showed a high prevalence of depressive symptoms among the transgender population in the twin cities of Pakistan. Use of illicit substances like tobacco, cannabis, opiates, and alcohol should be discouraged to prevent mental health problems.

Keywords: depression, transgender, prevalence, sociodemographic factors

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Authors: Priscilla Adoley Moffat

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This study explored perceptions rooted in and acquired from the cultures of many developing countries and how they impact applicants’ preferences and choices of STEM programs. The context of developing countries was chosen for this study because gender role socialization continues to maintain an important place in most of these cultures. This study’s relevance rests in the fact that, as the world takes steps to encourage and promote the choice and study of STEM programs, especially among females, there is a need for efforts towards understanding various cultural perceptions towards some programs of study, particularly STEM programs, which have diverse gender attributions in many developing cultures. Also, as the world strives to achieve gender equity in education, such a study comes in handy, as it provides a useful understanding of the underlying cultural factors that affect study program preferences of applicants, particularly in developing countries like Ghana as well as others in Africa. The study analyzed the admission application data of five public universities in Ghana. 1600 randomly-sampled final-year students of 32 randomly-selected senior high schools from the 16 regions of Ghana were interviewed. Since parents and teachers often guide and influence the study program choices of applicants, the study examined the perceptions of 180 teachers and 360 parents. The study found, among other things, that STEM programs are commonly perceived to pose much more difficulty to females than they do to males. As a result, many female applicants are discouraged from choosing these programs. While nursing programs are perceived more as programs for females, with the justification that females are better caregivers, males are perceived to be better medical doctors, engineers, and computer technicians. Thus, many females are less encouraged to choose Technology and Engineering programs.

Keywords: culture, perceptions, STEM, choice, preference

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Authors: Ema Vitória Fonseca Lavrador

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In this work, we intend to explore the impact that the film "Lightyear" (2022) had on the social context of its production, distribution, and reception. This film, produced by Walt Disney Animation Studios and Pixar Animation Studios, depicts the story of Buzz Lightyear, a Space Ranger from which the character of the same name in the "Toy Story" film franchise is based. This prequel was predicted to be the blockbuster of the year, but it was a financial fiasco and the subject of numerous controversies, which also caused it to be drowned out by the film "Minions: The Rise of Gru" (2022). The reason for its failure is not based on the film's narrative or quality but on its controversial context for being a commitment to LGBTQIA+ representation in an unexpected way, by featuring a same-sex couple and showing a kiss shared by them. This representation cost Disney distribution in countries against LGBTQIA+ representation in media and involved Disney in major disagreements with fans and politicians, especially for being a direct opposition to the Florida House Bill 1557, also called the “Don't Say Gay” bill. Many major companies have taken a stand against this law because it jeopardizes the safety of the LGBTQIA+ community, and, although Disney initially cut the kiss off the film, pressure from the staff and audience resulted in unprecedented progress. For featuring a brief homosexual kiss, its exhibition was banned in several countries and discouraged by the same public that was previously the focus of Disney's attention, as this is a conservative “family-friendly” branded company. We believe it is relevant to study the case of "Lightyear" because it is a work that raises awareness and promotes representation of communities affected during the dark times while less legislation is being approved to protect the rights and safety of queer people.

Keywords: Don’t Say Gay” bill, gender stereotypes, LGBTQIA+ representation, lightyear, Disney/Pixar

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Authors: Oyediran Wasiu Oyeleke

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Melon is a popular economic cucurbit in Southwest, Nigeria. In recent time, many young farmers are shifting from melon to watermelon farming due to poor yield and low monetary returns. Hence, this study was carried out to assess the decline in melon yield and its contribution to young farmers’ diversification into watermelon farming in Oyo state, Nigeria. Purposive sampling technique was used in selecting 75 respondents from five villages in Ibarapa block of the Oyo State Agricultural Development Project (ADP). Data collected were analyzed using descriptive statistics and Pearson Product Moment Correlation (PPMC). Results show that majority of the respondents (77.3%) were between 31-40 years of age and 46.70% had secondary school education. Most of the respondents (80%) cultivated more than 3 ha of land for watermelon. Majority of the respondents (74.7%) intercropped melon with other crops while watermelon was cultivated as a sole crop. None of the respondents either grew improved melon seeds (certified seeds) or applied fertilizers but all respondents cultivated treated watermelon seeds, applied fertilizers, and agro-chemicals. The average yields of melon fell from 376.53kg/ha in 2009 to 280.70kg/ha in 2011. However, the respondents were shifting into watermelon production because of available quality seeds and its early maturity, easy harvest, and high sales. There was a significant relationship between melon output and young farmers’ diversification to watermelon in the study area at p < 0.05. The study concluded that decline in the melon yield discouraged youth to continue melon farming in the study area. It is hereby recommended that certified melon seeds should be made available while extension service providers should provide training support for the young farmers in order to reposition and boost melon production in the study area.

Keywords: decline, melon yield, contribution, watermelon, diversification, young farmers

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Authors: B. Ashraf, A. M. Malik

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The study was accomplished at the Department of Economics and Agriculture Economics, Pir Mahar Ali Shah ARID Agriculture University, Punjab, Pakistan during 2013-16 with a purpose to discover the effect of Islamic finance/banking on employment in Punjab, Pakistan. Islamic banking system is sub-component of conventional banking system in various countries of the world; however, in Pakistan, it has been established as a separate Islamic banking system. The Islamic banking operates under the doctrine of Shariah. It is claimed that the referred banking is free of interest (Riba) and addresses the philosophy and basic values of Islam in finance that reduces the factors of uncertainty, risk and others speculative activities. Two Islamic bank’s; Meezan Bank Limited (Pakistan) and Al-Baraka Bank Limited (Pakistan) from North Punjab (Bahawalnagar) and central Punjab (Lahore) west Punjab (Gujrat), Pakistan were randomly selected for the conduct of research. A total of 206 samples were collected from the define areas and banks through questionnaire. The data was analyzed by using the Statistical Package for Social Sciences (SPSS) version 21.0. Multiple linear regressions were applied to prove the hypothesis. The results revealed that the assets formation had significant positive; whereas, the technology, length of business (experience) and bossiness size had significant negative impact with employment generation in Islamic finance/banking in Punjab, Pakistan. This concludes that the employment opportunities may be created in the country by extending the finance to business/firms to start new business and increase the Public awareness by the Islamic banks through intensive publicity. However; Islamic financial institutions may be encouraged by Government as it enhances the employment in the country.

Keywords: assets formation, borrowers, employment generation, Islamic banks, Islamic finance

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Authors: Syaza Isma, Timothy Higgins

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In Malaysia, increased take-up rates of tertiary student borrowing, and reliance on retirement savings to fund children's education show the importance of public higher education financing schemes (PTPTN). PTPTN has been operating for 2 decades now; however, there are some critical issues and challenges that include low loan recovery and loan default that suggest a detailed consideration of student loan/financing scheme alternatives is crucial. In addition, the decline in funding level per student following introduction of the new PTPTN full and partial loan scheme has raised ongoing concerns over the sustainability of the scheme to provide continuous financial assistance to students in tertiary education. This research seeks to assess these issues that put greater efficiency in an effort to ensure equitable access to student funding for current and future generations. We explore the extent of repayment hardship under the current loan arrangements that presumably led to low recovery from the borrowers, particularly low-income graduates. The concept of manageable debt exists in the design of income-contingent repayment schemes, as practiced in Australia, New Zealand, UK, Hungary, USA (in limited form), the Netherlands, and South Korea. Can Income Contingent Loans (ICL) offer the best practice for an education financing scheme, and address the issue of repayment hardship and concurrently, can a properly designed ICL scheme provide a solution to the current issues and challenges facing Malaysia student financing? We examine the different potential ICL models using deterministic and stochastic approach to simulate income of graduates.

Keywords: deterministic, income contingent loan, repayment burden, simulation, stochastic

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Authors: Rajapaksha J. S. R. L., Rajapaksha R. G. D. T., Ranawaka A. U. R., Rangalla R. D. M. P., Ranwala R. D. E. B., Chandratilake M. N.

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Introduction: Lesbian, gay, bisexual, and transgender (LGBT) patients experience discrimination, insensitivity, and ignorance about LGBT-specific health needs among healthcare providers. Developing the correct attitudes among medical students towards LGBT may help provide them with optimal healthcare. Objectives: This study aimed at assessing the attitudes of medical students towards the LBGT community. Methodology: A cross-sectional descriptive study was among all the medical students in the Faculty of Medicine, University of Kelaniya, Sri Lanka, using a validated online questionnaire. The questionnaire focused on eight areas. The data were descriptively analyzed, and the demographic groups were compared. Results: 358 students completed the survey. The response rate was 34.26%. Their attitudes on traditional gender roles and comfortability in interacting with LGBT people were moderate, and they disagreed with negative LGBT social beliefs. They knew less about the origin of sexuality/gender of LGBT. Although they accepted LGBT as a part of diversity, they discouraged normalizing the social practices of LGBT people. Their acceptance and association of LGBT were moderately positive. A minority has encountered LGBT in close social circles, and the majority of them were batch-mates. Although males’ knowledge about the origin of LGBT was higher, they favoured traditional gender roles more. The religious groups showed no differences. The favourability of attitudes towards LGBT reflected respondents’ political ideology. Conclusion: Although medical students’ knowledge on the sexuality/gender basis of LGBT is poor, they have moderately favourable attitudes towards them. They accept LGBT as a part of social diversity but not their social practices. Poor knowledge, lack of encounters, cultural influences, and political ideology may have influenced their attitudes.

Keywords: medical students, attitude, LGBT, diversity

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Authors: Rosanna Tramutoli

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Studies on several languages have demonstrated how different emotions are categorized in various linguistic constructions. It exists in several writings on the codification of emotions in Western African languages. A recent study on the semantic description of Swahili body terminology has demonstrated that body part terms, such as moyo (heart), uso (face) and jicho (eye) are involved in several metaphorical expressions describing emotions. However, so far hardly anything has been written on the linguistic description of emotions in Swahili. Thus, this study describes how emotional concepts, such as ‘love’ and ‘anger’ are codified in Swahili, in order to highlight common semantic and syntactic patterns, etymological sources and metaphorical expressions. The research seeks to answer a number of questions, such as which are the Swahili terms for ‘emotions’? Is there a distinction between ‘emotions’ and ‘feelings’? Which emotional lexical items have Bantu origin and which come from Arabic? Which metaphorical expressions/cognitive schemas are used to codify emotions? (e.g. kumpanda mtu kichwani, lit. ‘to climb on somebody’s head’, to make somebody feel angry, kushuka moyo, lit. ‘to be down the heart’, to feel discouraged, kumpa mtu moyo lit. ‘to give someone heart’, to encourage someone). Which body terms are involved as ‘containers/locus of emotions’? For instance, it has been shown that moyo (‘heart’) occurs as container of ‘love’ (e.g. kumtia mtu moyoni, lit. ‘to put somebody in the heart’, to love somebody very much) and ‘kindness’ (moyo wake ulijaa hisani, ‘his heart was filled with kindness’). The study also takes into account the syntactic patterns used to code emotions. For instance, when does the experiencer occur in subject position? (e.g. nina furaha, nimefurahi, ‘I am happy’) and when in object position (e.g. Huruma iliniingia moyoni, lit. ‘Pity entered me inside my heart’, ‘I felt pity’)? Data have been collected mostly through the analysis of Swahili digital corpora, containing different kinds of Swahili texts (e.g. novels, drama, political essays).

Keywords: emotions, cognitive linguistics, metaphors, Swahili

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Authors: Noelia Collado-Rodriguez

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The Mortgage Credit Directive 2014/17/UE should have been transposed the 21st of March of 2016. However, in Spain not only we did not meet the deadline, but currently we just have a preliminary draft of the so-called Mortgage Credit Act. Before we analyze the preliminary draft from the standpoint of the responsible lending principle, we should point out that this preliminary draft is not a consumer law statute. Through the text of the preliminary draft we cannot see any reference to the consumer, but we see references to the borrower. Furthermore, and more important, the application of this statute would not be, according to its text, circumscribed to borrowers who address the credit to a personal purpose. Instead, it seems that the preliminary draft aims to be one more of the rules of banking transparency that already exists in the Spanish legislation. In this sense, we can also mention that the sanctions contained in the preliminary draft are referred to these laws of banking ordination and oversight – where the rules of banking transparency belong –. This might be against the spirit of the Mortgage Credit Directive, which allows the extension of its scope to credits aimed to acquire other immovable property beyond the residential one. However, the borrower has to be a consumer accordingly with the Directive. It is quite relevant that the prospective Spanish Mortgage Credit Act might not be a consumer protection statute; specially, from the perspective of the responsible lending principle. The responsible lending principle is a consumer law principle, which is based on the structural weakness of the consumer’s position in the relationship with the creditor. Therefore, it cannot surprise that the Spanish preliminary draft does not state any of the pre contractual conducts that express the responsible lending principle. We are referring to the lender’s duty to provide adequate explanations; the consumer’s suitability test; the lender’s duty to assess consumer’s creditworthiness; the consultation of databases to perform the creditworthiness assessment; and the most important, the lender’s prohibition to grant credit in case of a negative creditworthiness assessment. The preliminary draft just entitles the Economy Ministry to enact provisions related to those topics. Thus, the duties and rules derived from the responsible lending principle included in the EU Directive will not have legal character in Spain, being mere administrative regulations. To conclude, the two main questions that come up after reading the Spanish Mortgage Credit Act preliminary draft are, in the first place, what kind of consequences might arise from the Mortgage Credit Act if finally it is not a consumer law statute. And in the second place, what might be the consequences for the responsible lending principle of being developed by administrative regulations instead of by legislation.

Keywords: consumer credit, consumer protection, creditworthiness assessment, responsible lending

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