Search results for: established banks

Authors: Joel S. Akintayo, Ramat T. Salman

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The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the influence of audit tenure, audit fee, board independence, and board size on earnings management of DMBs. Explanatory research design was employed in carrying out the study while secondary data were sourced from the annual reports and accounts of all the 15 quoted DMBs in Nigerian Stock Exchange as at December 31, 2015 for a period of 10 years covering from 2006 to 2015. The data obtained for the study were analyzed using panel regression analysis approach. The findings reveal that board independence has a negative significant effect on earnings management at a 5% level of significance (p=0.002), while audit fee has a positive significant effect on earnings management at a 5% level of significance (p=0.013) and audit tenure has a negative significant effect on earnings management of DMBs at a 5% level of significance (p=0.003). Surprisingly, board size was statistically not significant at a 5% level of significance (p=0.086). The study concludes that high audit quality and sound corporate governance could improve the earnings quality of DMBs. Hence, the study recommends that the authorities saddled with the responsibility of banking supervision in Nigeria such the Securities and Exchange Commission (SEC) and CBN to advise the National Assembly in Nigeria to pass into law the three years professional requirement for audit tenure.

Keywords: audit quality, audit tenure, audit fee, board independence, corporate governance, earnings management

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Authors: Michelo Obrey

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Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

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Authors: Nada Azhar

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The aim of the paper is to investigate the effect of corporate social responsibility (CSR) CSR on the National Commercial Bank (NCB) in Saudi Arabia. In order to achieve this, a case study was made of the CSR activities of this bank from the perspective of its branch managers. The NCB was chosen as it was one of the first Saudi banks to engage in CSR and currently has a wide range of CSR initiatives. A qualitative research method was used. Open-ended questionnaires were administered to eighty branch managers of the NCB, with fifty-five usable questionnaires returned and twenty managers were interviewed as part of the primary research. Data from both questionnaires and interviews were analysed using qualitative content analysis. Six themes emerged from the questionnaire findings were used to develop the interview questions. These themes are the following: Awareness of employees about CSR in the NCB; CSR activities as a type of investment; Government and media support; Increased employee loyalty in the NCB; Prestige and profit to the NCB; and View of CSR in Islam. This paper makes a theoretical contribution in that it investigates and increases understanding of the effect of CSR on the NCB in Saudi Arabia. In addition, it makes a practical contribution by making recommendations which can support the development of CSR in the NCB. A limitation of the paper is that it is a case study of only one bank. It is therefore recommended that future research could be conducted with other banks in Saudi Arabia, or indeed, with a range of other types of firm within the financial services area in Saudi Arabia. In this way, the same issues could be explored but with a greater potential generalisability of findings of CSR within the Saudi Arabian financial services industry. In addition, this paper takes a qualitative approach and it is suggested that future research be carried out using mixed methods, which could provide a greater depth of analysis.

Keywords: branch managers, corporate social responsibility, national commercial bank, Saudi Arabia

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Authors: Abdullah Almulhim

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The International Accounting Standards Board (IASB) was established in 2001 to develop International Financial Reporting Standards (IFRS) that bring transparency, accountability, and efficiency to financial markets around the world. In addition, the IFRS provide a unified accounting language, which is especially important in the era of globalization. However, the establishment of a single set of high-quality international accounting standards is a matter of growing importance, as participants in the increasingly integrated world capital market demand comparability and transparency of financial reporting worldwide. Saudi Arabia became the 149th member of the World Trade Organization (WTO) on 11 December 2005, which has increased the need to convert to IFRS. Currently, the Saudi Arabian Monetary Authority (SAMA) requires banks and insurance companies in Saudi Arabia to report under IFRS Standards. However, until the end of 2016, SOCPA standards were applied to all other companies, listed and unlisted. From 2017, listed Saudi companies would be required to report under IFRS Standards as adopted by SOCPA effective 2017. This paper is to investigate the expected benefits gained and highlight the challenges faced by adopting IFRS by the listed companies in the Saudi Stock Exchange. Questionnaires were used as the main method of data collection. They were distributed to listed companies in the Saudi Capital Market. Data obtained through the questionnaires have been imported into SPSS statistical software for analysis. The expected results of this study will show the benefits of adopting IFRS by Saudi Listed Companies. However, this study will investigate the challenges faced by adopting IFRS by the listed companies in the Saudi Arabian Stock Market. Findings will be discussed later upon completion of initial analysis.

Keywords: challenges, IAS, IFRS, opportunities, Saudi, SOCPA

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Authors: Ribeiro Tiago Magalhães

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Objective: The objective of this study was to evaluate the influence of a hydroelectric power plant in the state of Amapá, and to present the results obtained by dimensioning the diversity of the main mosquito vectors involved in the transmission of pathogens that cause diseases such as malaria, dengue and leishmaniasis. Methodology: The present study was conducted on the banks of the Araguari River, in the municipalities of Porto Grande and Ferreira Gomes in the southern region of Amapá State. Nine monitoring campaigns were conducted, the first in April 2014 and the last in March 2016. The selection of the catch sites was done in order to prioritize areas with possible occurrence of the species considered of greater importance for public health and areas of contact between the wild environment and humans. Sampling efforts aimed to identify the local vector fauna and to relate it to the transmission of diseases. In this way, three phases of collection were established, covering the schedules of greater hematophageal activity. Sampling was carried out using Shannon Shack and CDC types of light traps and by means of specimen collection with the hold method. This procedure was carried out during the morning (between 08:00 and 11:00), afternoon-twilight (between 15:30 and 18:30) and night (between 18:30 and 22:00). In the specific methodology of capture with the use of the CDC equipment, the delimited times were from 18:00 until 06:00 the following day. Results: A total of 32 species of mosquitoes was identified, and a total of 2,962 specimens was taxonomically subdivided into three genera (Culicidae, Psychodidae and Simuliidae) Psorophora, Sabethes, Simulium, Uranotaenia and Wyeomyia), besides those represented by the family Psychodidae that due to the morphological complexities, allows the safe identification (without the method of diaphanization and assembly of slides for microscopy), only at the taxonomic level of subfamily (Phlebotominae). Conclusion: The nine monitoring campaigns carried out provided the basis for the design of the possible epidemiological structure in the areas of influence of the Cachoeira Caldeirão HPP, in order to point out among the points established for sampling, which would represent greater possibilities, according to the group of identified mosquitoes, of disease acquisition. However, what should be mainly considered, are the future events arising from reservoir filling. This argument is based on the fact that the reproductive success of Culicidae is intrinsically related to the aquatic environment for the development of its larvae until adulthood. From the moment that the water mirror is expanded in new environments for the formation of the reservoir, a modification in the process of development and hatching of the eggs deposited in the substrate can occur, causing a sudden explosion in the abundance of some genera, in special Anopheles, which holds preferences for denser forest environments, close to the water portions.

Keywords: Amazon, hydroelectric, power, plants

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Authors: Khalid Huwaydi Alshammari

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The paper examined the extent to which it was necessary for the Saudi Arabian Monetary Agency (SAMA), as a central bank, to update the Banking Control Law 1966 (BCL) in order to gain full independence, while ensuring that SAMA would have enough flexibility to develop the banking industry yet make sound decisions with regard to the issuance of new regulations related to banking supervision.Using a comparative study approach, the paper looked to find the best practices around these issues. The Bank of England, which was recently granted full independence, presented a good opportunity for a case study. The perspectives of the World Bank, the International Monetary Fund and commercial banks in Saudi Arabia are examined, including an analysis of their recommendations regarding SAMA regulations on banking supervision. This paper found several issues are important for SAMA as the central bank in a country which is a member of the G20, and which has recently faced unstable oil prices. The paper also discusses conflicts of interest which arose when the Saudi government became a shareholder in commercial banks while simultaneously regulating SAMA through the Ministry of Finance, resulting in a monopoly which disabled free competition in the banking market. The paper recommends further steps for SAMA to develop the banking industry, which is an important arm of Saudi’s economy, and examines the challenges SAMA faces in updating regulations such as the BCL under Sharia law. The author also suggests practical solutions to the difficulties. The paper found these difficulties could be avoiding them if SAMA focuses on Islamic banking product, and fixed the lacks of regulations of the related laws.

Keywords: Saudi Arabian monetary agency, comparative study, banking control law 1966, the bank of England

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Authors: Givi Gavardashvili, Eduard Kukhalashvili, Tamriko Supatashvili, Giorgi Natroshvili, Konstantine Bziava, Irma Qufarashvili

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In the article to research water levels in the Zhinvali water reservoirs by field and theoretical research and using GPS and GIS technologies has been established dynamic of water reservoirs changes in the suitable coordinates and has been made water reservoir maps and is lined in the 3D format. By using of GPS coordinates and digital maps has been established water horizons of Zhinvali water reservoir in the absolute marks and has been calculated water levels volume. To forecast the filling of the Zhinvali water reservoir by solid sediment in 2018 conducted field experimental researches in the catchment basin of river Tetri (White) Aragvi. It has been established main hydrological and hydraulic parameters of the active erosion-debris flow tributaries of river Tetri Aragvi. It has been calculated erosion coefficient considering the degradation of the slope. By calculation is determined, that in the river Tetri Aragvi catchment basin the value of 1% maximum discharge changes Q1% = 70,0 – 550,0 m3/sec, and erosion coefficient - E = 0,73 - 1,62, with suitable fifth class of erosion and intensity 50-100 tone/hectare in the year.

Keywords: Zhinvali soil dam, water reservoirs, water levels, erosion, debris flow

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Authors: Éva Pintér, Péter Bagó, Nikolett Deutsch, Miklós Hetényi

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The process of digital transformation has a profound influence on all sectors of the worldwide economy and the business environment. The influence of blockchain technology can be observed in the digital economy and e-government, rendering it an essential element of a nation's growth strategy. The banking industry is experiencing significant expansion and development of financial technology firms. Utilizing developing technologies such as artificial intelligence (AI), machine learning (ML), and big data (BD), these entrants are offering more streamlined financial solutions, promptly addressing client demands, and presenting a challenge to incumbent institutions. The advantages of digital transformation are evident in the corporate realm, and firms that resist its adoption put their survival at risk. The advent of digital technologies has revolutionized the business environment, streamlining processes and creating opportunities for enhanced communication and collaboration. Thanks to the aid of digital technologies, businesses can now swiftly and effortlessly retrieve vast quantities of information, all the while accelerating the process of creating new and improved products and services. Big data analytics is generally recognized as a transformative force in business, considered the fourth paradigm of science, and seen as the next frontier for innovation, competition, and productivity. Big data, an emerging technology that is shaping the future of the banking sector, offers numerous advantages to banks. It enables them to effectively track consumer behavior and make informed decisions, thereby enhancing their operational efficiency. Banks may embrace big data technologies to promptly and efficiently identify fraud, as well as gain insights into client preferences, which can then be leveraged to create better-tailored products and services. Moreover, the utilization of big data technology empowers banks to develop more intelligent and streamlined models for accurately recognizing and focusing on the suitable clientele with pertinent offers. There is a scarcity of research on big data analytics in the banking industry, with the majority of existing studies only examining the advantages and prospects associated with big data. Although big data technologies are crucial, there is a dearth of empirical evidence about the role of big data analytics (BDA) capabilities in bank performance. This research addresses a gap in the existing literature by introducing a model that combines the resource-based view (RBV), the technical organization environment framework (TOE), and dynamic capability theory (DC). This study investigates the influence of Big Data Analytics (BDA) utilization on the performance of market and risk management. This is supported by a comparative examination of Hungarian mobile banking services.

Keywords: big data, digital transformation, dynamic capabilities, mobile banking

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Authors: Pradeep Kulshrestha, Maulana Ayoub Ali

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The level of penetration of Islamic banking products and services has recorded a reasonable growth at an exponential rate in many parts of the world. There are many factors which have contributed to this growth including, but not limited to the rapid growth of number of Muslims who are uncomfortable with the conventional ways of banking, interest and higher interest rates scheduled by conventional banks and financial institutions as well as the financial inclusion campaign conducted in many countries. The system is facing legal challenges which open the research fdoor for practitioners and academicians for the sake of finding out solutions to those challenges. This paper tries to investigate the development of the Islamic banking system in the United Kingdom (UK), Saudi Arabia, Malaysia, Iran, Kenya, Nigeria and Uganda in order to understand the modalities which have been employed to run an Islamic banking system in the aforementioned countries. The methodology which has been employed in doing this research paper is Doctrinal, of which legislations, policies and other legal tools have been carefully studied and analysed. Again, papers from academic journals, books and financial reports have been deeply analysed for the purpose of enriching the paper and come up with a tangible results. The paper found that in Asia, Malaysia has created the smoothest legal platform for Islamic banking system to work properly in the country. The United Kingdom has tried harder to smooth the banking system without affecting the conventional banking methods and without favouring the operations of Islamic banks. It also tries harder to make UK as an Islamic banking and finance hub in Europe. The entire banking system in Iran is Islamic, while Nigeria has undergone several legal reforms to suit Islamic banking system in the country. Kenya and Uganda are at a different pace in making Islamic Banking system work alongside the conventional banking system.  

Keywords: shariah, Islamic banking, law, alternative banking

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Authors: Pradeep Kulshrestha, Maulana Ayoub Ali

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The concept of financial inclusion has been tabled in the whole world where practitioners, academicians, policy makers and economists are working hard to look for the best possible opportunities in order to enable the whole society to be in the banking cycle. The Islamic banking system is considered to be one of the said opportunities. Countries like the United Kingdom, United States of America, Malaysia, Saudi Arabia, the whole of the United Arab Emirates and many African countries have accommodated the aspect of Islamic banking in the conventional banking system as one of the financial inclusion strategies. This paper tries to analyse the current state of affairs of the Islamic Banking system in Tanzania in order to understand the improvement of the provision of Islamic banking products and services in the said country. The paper discusses the historical background of the banking system in Tanzania, the level of penetration of banking products and services and the coming of the Islamic banking system in the country. Furthermore, the paper discusses banking regulatory bodies, legal instruments governing banking operations as well as number of legal challenges facing Islamic banking operations in the country. Following a critical literature review, the paper discovered that there is no legal instrument which talks about the introduction and provision of Islamic banking system in Tanzania. Furthermore, the Islamic banking system was considered as a banking product which is absolutely incorrect because Islamic banking is considered to be as a banking system of its own. In addition to that, it has been discovered that lack of a proper regulatory system and legal instruments to harmonize the conventional and Islamic banking systems has resulted in the closure of one Islamic window in the country, which in the end affects the credibility of the newly introduced banking system. In its conclusive remarks, the paper suggests that Tanzania should work on all legal challenges affecting the smooth operations of the Islamic banking system. This can be in a way of adopting various Islamic banking legal models which are used in countries like Malaysia and others, or a borrowing legal harmonization process which has been adopted by the UK, Uganda, Nigeria and Kenya.

Keywords: Islamic banking, Islamic windows, regulations, banks

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Authors: Kyeong-Ri Ko, Seong Bong Bae, Jang Sik Choi, Sung Bum Pan

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A simple method for testing the posture imbalance of the human body is to check for differences in the bilateral shoulder and pelvic height of the target. In this paper, to check for spinal disorders the authors have studied ways to establish a motion capture system to obtain and express motions of 4-joints, and to acquire data based on this system. The 4 sensors are attached to the both shoulders and pelvis. To verify the established system, the normal and abnormal postures of the targets listening to a lecture were obtained using the established 4-joint based motion capture system. From the results, it was confirmed that the motions taken by the target was identical to the 3-dimensional simulation.

Keywords: inertial sensor, motion capture, motion data acquisition, posture imbalance

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Authors: Yosef Ferede Bogale

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The purpose of this study was to evaluate the degree of customer satisfaction and the variables influencing it in the instance of the Bank of Abyssinia branches in the districts of Arada and Bole in Addis Ababa. The study was carried out utilizing a mixed research approach and a descriptive and explanatory research design in Addis Ababa, the capital city of Ethiopia. Both primary and secondary data were employed in this investigation. The study's target population consisted of 1000 of the bank's most prestigious clients. With a 93% response rate, 265 respondents from both genders in the active age group had higher levels of education and work experience and were in the active age group. Customers of the case bank under consideration comprised the study's target audience. The respondents, who belonged to both gender groups, were in the active age bracket with superior levels of education and work experience. As a result, this investigation discovered that the degree of client satisfaction was assigned a medium rating. Additionally given a middling rating were the company's image practices, employee competency, technology, and service quality. Further, the results also demonstrate that corporate image, employees’ competency, technology, and service quality all positively and significantly affect customer happiness. This study found that, to varying degrees, company image, technology, competence, and high-quality financial services will all improve consumer happiness. According to this report, banks should monitor customer satisfaction and service quality at least twice a year. This is because there is a growing movement among bank service providers for accountability, and measuring these factors is crucial. This study also recommends that banks make every effort to satisfy consumers' expectations to the highest level.

Keywords: customer satisfaction, corporate image, quality services risk, bank

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Authors: Donato Vese

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According to the common interpretation, in a legal system, public powers are established by law. Exceptions are admitted in an emergency or particular relationship with public power. However, we currently agree that law allows public administration a margin of decision, even in the case of non-discretionary acts. Hence, the administrative decision not exclusively established by law becomes the rule in the ordinary state of things, non-only in state of exception. This paper aims to analyze and discuss different ideas on discretionary power on the Rule of Law and Rechtsstaat. Observing the legal literature in Europe and Nord and South America, discretionary power can be described as follow: it could be considered a margin that law accords to the executive power for political decisions or a choice between different interpretations of vague legal previsions. In essence, this explanation admits for the executive a decision not established by law or anyhow not exclusively established by law. This means that the discretionary power of public administration integrates the law. However, integrating law does not mean to decide according to the law, but it means to integrate law with a decision involving public power. Consequently, discretionary power is essentially free will. In this perspective, also the Rule of Law and the Rechtsstaat are notions explained differently. Recently, we can observe how the European notion of Rechtsstaat is founded on the formal validity of the law; therefore, for this notion, public authority’s decisions not regulated by law represent a problem. Thus, different systems of law integration have been proposed in legal literature, such as values, democracy, reasonableness, and so on. This paper aims to verify how, looking at those integration clauses from a logical viewpoint, integration based on the recourse to the legal system itself does not resolve the problem. The aforementioned integration clauses are legal rules that require hard work to explain the correct meaning of the law; in particular, they introduce dangerous criteria in favor of the political majority. A different notion of public power can be proposed. This notion includes two main features: (a) sovereignty belongs to persons and not the state, and (b) fundamental rights are not grounded but recognized by Constitutions. Hence, public power is a system based on fundamental rights. According to this approach, it can also be defined as the notion of public interest as concrete maximization of fundamental rights enjoyments. Like this, integration of the law, vague or subject to several interpretations, must be done by referring to the system of fundamental individual rights. We can think, for instance, to fundamental rights that are right in an objective view but not legal because not established by law.

Keywords: administrative discretion, free will, fundamental rights, public power, sovereignty

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Authors: Kamlesh Shashikant Dave

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The global financial crisis is rooted in the sub-prime crisis in U.S.A. During the boom years, mortgage brokers attracted by the big commission, encouraged buyers with poor credit to accept housing mortgages with little or no down payment and without credit check. A combination of low interest rates and large inflow of foreign funds during the booming years helped the banks to create easy credit conditions for many years. Banks lent money on the assumptions that housing price would continue to rise. Also the real estate bubble encouraged the demand for houses as financial assets .Banks and financial institutions later repackaged these debts with other high risk debts and sold them to worldwide investors creating financial instruments called collateral debt obligations (CDOs). With the rise in interest rate, mortgage payments rose and defaults among the subprime category of borrowers increased accordingly. Through the securitization of mortgage payments, a recession developed in the housing sector and consequently it was transmitted to the entire US economy and rest of the world. The financial credit crisis has moved the US and the global economy into recession. Indian economy has also affected by the spill over effects of the global financial crisis. Great saving habit among people, strong fundamentals, strong conservative and regulatory regime have saved Indian economy from going out of gear, though significant parts of the economy have slowed down. Industrial activity, particularly in the manufacturing and infrastructure sectors decelerated. The service sector too, slow in construction, transport, trade, communication, hotels and restaurants sub sectors. The financial crisis has some adverse impact on the IT sector. Exports had declined in absolute terms in October. Higher inputs costs and dampened demand have dented corporate margins while the uncertainty surrounding the crisis has affected business confidence. To summarize, reckless subprime lending, loose monetary policy of US, expansion of financial derivatives beyond acceptable norms and greed of Wall Street has led to this exceptional global financial and economic crisis. Thus, the global credit crisis of 2008 highlights the need to redesign both the global and domestic financial regulatory systems not only to properly address systematic risk but also to support its proper functioning (i.e financial stability).Such design requires: 1) Well managed financial institutions with effective corporate governance and risk management system 2) Disclosure requirements sufficient to support market discipline. 3)Proper mechanisms for resolving problem institution and 4) Mechanisms to protect financial services consumers in the event of financial institutions failure.

Keywords: FIIs, BSE, sensex, global impact

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Authors: Aisha Zubair, Anila Kamal

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Leadership styles and practices greatly influence the organizational effectiveness and productivity. It also plays an important role in employees’ experiences of positive emotions at workplace and creative work behaviors. Authentic leadership as a newly emerging concept has been found as a significant predictor of various desirable work related outcomes. However, leadership practices and its work related outcomes, to a great extent, are determined by the very nature of the organizational structures (tall and flat). Tall organizations are characterized by multiple hierarchical layers with predominant vertical communication patterns, and narrow span of control; while flat organizations are featured by few layers of management employing both horizontal and vertical communication styles, and wide span of control. Therefore, the present study was undertaken to determine the work related outcomes of perceived authentic leadership; that is work related flow and creative work behavior among employees of flat and tall organizations. Moreover, it was also intended to determine the moderating role of organizational structure (flat and tall) in the relationship between perceived authentic leadership with work related flow and creative work behavior. In this regard, two types of companies have been considered; that is, banks as a form of tall organizational structure with multiple hierarchical structures while software companies have been considered as flat organizations with minimal layers of management. Respondents (N = 1180) were full time regular employees of marketing departments of banks (600) and software companies (580) including both men and women with age range of 22-52 years (M = 33.24; SD = 7.81). Confirmatory Factor Analysis yielded factor structures of measures of work related flow and creative work behavior in accordance to the theoretical models. However, model of authentic leadership exhibited variation in terms of two items which were not included in the final measure of the perceived authentic leadership. Results showed that perceived authentic leadership was positively associated with work related flow and creative work behavior. Likewise, work related flow was positively aligned with creative work behavior. Furthermore, type of organizational structure significantly moderated the relationship of perceived authentic leadership with work related flow and creative work behavior. Results of independent sample t-test showed that employees working in flat organization reflected better perceptions of authentic leadership; higher work related flow and elevated levels of creative work behavior as compared to those working in tall organizations. It was also found that employees with extended job experience and more job duration in the same organization displayed better perceptions of authentic leadership, reported more work related flow and augmented levels of creative work behavior. Findings of the present study distinctively highlighted the similarities as well as differences in the interactions of major constructs which function differentially in the context of tall (banks) and flat (software companies) organizations. Implications of the present study for employees and management as well as future recommendations were also discussed.

Keywords: creative work behavior, organizational structure, perceived authentic leadership, work related flow

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Authors: Reza Miresmaeili, Asghar Heydari Astaraee, Fereshteh Dolati

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In the present study, an analytical model based on dislocation density model was developed to simulate grain refinement in surface mechanical attrition treatment (SMAT). The correlation between SMAT time and development in plastic strain on one hand, and dislocation density evolution, on the other hand, was established to simulate the grain refinement in SMAT. A dislocation density-based constitutive material law was implemented using VUHARD subroutine. A random sequence of shots is taken into consideration for multiple impacts model using Python programming language by utilizing a random function. The simulation technique was to model each impact in a separate run and then transferring the results of each run as initial conditions for the next run (impact). The developed Finite Element (FE) model of multiple impacts describes the coverage evolution in SMAT. Simulations were run to coverage levels as high as 4500%. It is shown that the coverage implemented in the FE model is equal to the experimental coverage. It is depicted that numerical SMAT coverage parameter is adequately conforming to the well-known Avrami model. Comparison between numerical results and experimental measurements for residual stresses and depth of deformation layers confirms the performance of the established FE model for surface engineering evaluations in SMA treatment. X-ray diffraction (XRD) studies of grain refinement, including resultant grain size and dislocation density, were conducted to validate the established model. The full width at half-maximum in XRD profiles can be used to measure the grain size. Numerical results and experimental measurements of grain refinement illustrate good agreement and show the capability of established FE model to predict the gradient microstructure in SMA treatment.

Keywords: dislocation density, grain refinement, severe plastic deformation, simulation, surface mechanical attrition treatment

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Authors: Ayodeji Motunrayo Omoare

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Economically fish provides an important source of food and income for both men and women especially many households in the developing world and fishing has an important social and cultural position in river-rine communities. However, fish is highly susceptible to deterioration. Consequently, this study was carried out to correlate income generation of small-scale women fish processors in Abeokuta metropolis, Ogun State, Nigeria. Eighty small-scale women fish processors were randomly selected from five communities as the sample size for this study. Collected data were analyzed using both descriptive and inferential statistics. The results showed that the mean age of the respondents was 31.75 years with average household size of 4 people while 47.5% of the respondents had primary education. Most (86.3%) of the respondents were married and had spent more than 11 years in fish processing. The respondents were predominantly Yoruba tribe (91.2%). Majority (71.3%) of the respondents used traditional kiln for processing their fish while 23.7% of the respondents used hot vegetable oil to fry their fish. Also, the result revealed that respondents sourced capital from Personal Savings (48.8%), Cooperatives (27.5%), Friends and Family (17.5%) and Microfinance Banks (6.2%) for fish processing activities. The respondents generated an average income of ₦7,000.00 from roasted fish, ₦3,500.00 from dried fish, and ₦5,200.00 from fried fish daily. However, inadequate processing equipment (95.0%), non-availability of credit facility from microfinance banks (85.0%), poor electricity supply (77.5%), inadequate extension service support (70.0%), and fuel scarcity (68.7%) were major constraints to fish processing in the study area. Results of chi-square analysis showed that there was a significant relationship between personal characteristics (χ2 = 36.83, df = 9), processing methods (χ2 = 15.88, df = 3) and income generated at p < 0.05 level of significance. It can be concluded that significant relationship existed between processing methods and income generated. The study, therefore, recommends that modern processing equipment should be made available to the respondents at a subsidized price by the agro-allied companies.

Keywords: correlates, income, fish processors, women, small-scale

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Authors: Peter Kress, Alexander Pflaum, Ulrich Loewen

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The number of Internet-of-Things (IoT) platforms is steadily increasing across various industries, especially for smart factories, smart homes and smart mobility. Also in the manufacturing industry, the number of Industrial-IoT platforms is growing. Both IT players, start-ups and increasingly also established industry players and small-and-medium-enterprises introduce offerings for the connection of industrial equipment on platforms, enabled by advanced information and communication technology. Beside the offered functionalities, the established ecosystem of partners around a platform is one of the key differentiators to generate a competitive advantage. The key question is how platform operators design the business model around their platform to attract a high number of customers and partners to co-create value for the entire ecosystem. The present research tries to answer this question by determining the key characteristics of business models of successful platforms in the manufacturing industry. To achieve that, the authors selected an explorative qualitative research approach and created an inductive comparative case study. The authors generated valuable descriptive insights of the business model elements (e.g., value proposition, pricing model or partnering model) of various established platforms. Furthermore, patterns across the various cases were identified to derive propositions for the successful design of business models of platforms in the manufacturing industry.

Keywords: industrial-internet-of-things, business models, platforms, ecosystems, case study

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Authors: Pumela Msweli, Dexter L. Ryneveldt

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This paper seeks to shed light on institutional logics and institutionalization processes that influence the successful implementation of financial sector regulations. We use the neo-institutional theory lens to interrogate how the newly promulgated Financial Sector Regulations Act (FSRA) provides for the institutionalisation of the Twin Peaks Model. With the enactment of FSRA, previous financial regulatory institutions were dismantled, and new financial regulators established. In point, the Financial Services Conduct Authority (FSCA) replaced the Financial Services Board (FSB), and accordingly, the Prudential Authority (PA) was established. FSRA is layered with complexities that make it mandatory to co-exist, cooperate, and collaborate with other institutions to fulfill FSRA’s overall financial stability objective. We use content analysis of the financial regulations that established the Twin Peaks Models (TPM) in South Africa and in the Netherlands, to map out the three-stage institutionalization processes: (1) habitualisation, (2) objectification and (3) sedimentation. This allowed for a comparison of how South Africa, as a developing country and Netherlands as a developed country, have institutionalized the Twin Peak model. We provide valuable insights into how differences in the institutional and societal logics of the developing and developed contexts shape the institutionalization of financial regulations.

Keywords: financial industry, financial regulation, financial stability, institutionalisation, habitualization, objectification, sedimentation, twin peaks model

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Authors: Prashant Das, Tushar Singh, Virendra Byadwal

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The present study attempted to understand the role of cognitive flexibility and employee engagement in predicting employees’ turnover intentions. Employee turnover is a significant problem that many organizations are facing these days. Employee turnover is not only extremely expensive for the employer but also results in poor production levels. In developing countries like India, organizations once believed to have most stable employees, are facing major turnover problems. One such organization is banking organizations. Due to globalization, banks are now changing their work scenarios under which the employees have many different roles to perform. Cognitive flexibility which refers to an individual’s ability to shift cognitive sets and to adapt to one’s changing environment, thus seems to be an important factor that are responsible for the employee turnover in organizations. It is hypothesized that those with higher cognitive flexibility would be more able to adapt to the changing work demands of the organizations and thus would show less turnover intentions. Another factor that seems to be important in predicting turnover is employee engagement. Kahn referred to engagement in terms of the harnessing of organization members’ selves to their work roles [by which they] employ and express themselves physically, cognitively, and emotionally during role performances. Studies have shown a strong relationship between employee engagement and turnover intentions. Those with higher engagement with their jobs have found to show low turnover intentions. This study thus hypothesizes that employees with higher engagement will show lower levels of turnover intentions. A total of 150 bank employees (75 from private and 75 from public) participated in this study. They were administered Cognitive Flexibility Scale, Gallup Questionnaire and Intention to Stay Questionnaire along with another questionnaire asking for their demographic details. Results of the study revealed that employees with higher levels of cognitive flexibility and employee engagement show lover levels of turnover intentions. However, the effect is more prominent in case of employees of private banks. Demographic characteristics such as level of the employee and years of engagement in the current job have also been found to be influencing the relationship between cognitive flexibility, employee engagement and turnover intentions. Results of the study are interpreted in accordance to the prevalent literature and theoretical positions.

Keywords: cognitive flexibility, employee engagement, organization, turnover intentions

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Authors: Barun K. De

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Acquired immunodeficiency syndrome (AIDS) is caused by two types of human immunodeficiency viruses, collectively designated HIV. HIV infection is spreading globally particularly in developing countries. Before an individual is diagnosed with HIV, the disease goes through different phases. First there is an acute early phase that is followed by an established or chronic phase. Subsequently, there is a latency period after which the individual becomes immunodeficient. It is in the acute phase that an individual is highly infectious due to a high viral load. Presently, HIV diagnosis involves use of tests that do not detect the acute phase infection during which both the viral RNA and p24 antigen are expressed. Instead, these less sensitive tests detect antibodies to viral antigens which are typically sero-converted later in the disease process following acute infection. These antibodies are detected in both asymptomatic HIV-infected individuals as well as AIDS patients. Studies indicate that early diagnosis and treatment of HIV infection can reduce medical costs, improve survival, and reduce spreading of infection to new uninfected partners. Newer 4th generation combination antigen/antibody tests are highly sensitive and specific for detection of acute and established HIV infection (HIV1 and HIV2) enabling immediate linkage to care. The CDC (Center of Disease Control, USA) recently recommended an algorithm involving three different tests to screen and diagnose acute and established infections of HIV-1 and HIV-2 in a general population. Initially a 4th generation combo test detects a viral antigen p24 and specific antibodies against HIV -1 and HIV-2 envelope proteins. If the test is positive it is followed by a second test known as a differentiation assay which detects antibodies against specific HIV-1 and HIV-2 envelope proteins confirming established infection of HIV-1 or HIV-2. However if it is negative then another test is performed that measures viral load confirming an acute HIV-1 infection. Screening results of a Phoenix area population detected 0.3% new HIV infections among which 32.4% were acute cases. Studies in the U.S. indicate that this algorithm effectively reduces HIV infection through immediate treatment and education following diagnosis.

Keywords: new algorithm, HIV, diagnosis, infection

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Authors: Zahra Alimorad

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There is a strong belief that language teachers' actual practices in the classroom context are largely determined by the underlying perceptions they hold about the nature of language and language learning. That being so, it can be envisaged that teaching procedures of ESP (English for Specific Purposes) teachers teaching reading comprehension will mainly be driven by their perceptions about the nature of reading. To examine this issue, four Iranian university professors holding Ph.D. in either TEFL (Teaching English as a Foreign Language) or English Literature who were teaching English to Engineering and Sciences students were recruited to participate in this study. To collect the necessary data, classroom observations and follow-up semi-structured interviews were used. Furthermore, the materials utilized by the teachers such as textbooks, syllabuses, and tests were also examined. Although it can be argued that their perceptions were partially compatible with the established principles, results of the study pointed to a lack of congruence between these teachers' perceptions and their practices, on the one hand, and between the established principles and the practices, on the other. While the literature mostly supports a metacognitive-strategy approach to reading comprehension, the teachers were mainly adopting a skills-based approach to the teaching of reading. That is, they primarily focused on translation as the core activity in the classroom followed by reading aloud, defining words, and explaining grammatical structures. This divergence was partly attributed to the contextual constraints and partly to students' lack of motivation by the teachers.

Keywords: English teachers, perceptions, practice, principles, reading comprehension

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Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit

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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.

Keywords: central bank independence, inflation, macroeconomic variables, price stability

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Authors: Xing Feng, Yuanbin Li

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Oil spills at sea can cause severe marine environmental damage, including bringing huge hazards to living resources and human beings. In situ burning or chemical dispersant methods can be used to handle the oil spills sometimes, but these approaches will bring secondary pollution and fail in some situations. Oil recovery techniques have also been developed to recover oil using oil skimmer equipment installed on ships, while the hydrodynamic process of the oil flowing through the oil skimmer is very complicated and important for evaluating the recovery efficiency. Based on this, a two-dimensional numerical simulation platform for simulating the hydrodynamic process of the oil flowing through the oil skimmer is established based on the Navier-Stokes equations for viscous, incompressible fluid. Finally, the influence of the design of the flow channel in the curved plane oil skimmer on the hydrodynamic process of the oil flowing through the oil skimmer is investigated based on the established simulation platform.

Keywords: curved plane oil skimmer, flow channel, CFD, VOF

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Authors: Ramutė Miseikienė, Saulius Tusas

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Somatic cell count and bacteria count are the main indicators of cow milk quality. The aim of this study was to analyze and compare parameters of milk quality in different-sized cows herds. Milk quality of ten dairy cows farms during one year period was analyzed. Dairy farms were divided into five groups according to number of cows in the farm (under 50 cows, 51–100 cows, 101–200 cows, 201–400 cows and more than 400 cows). The averages of somatic cells bacteria count in milk and milk freezing temperature were analyzed. Also, these parameters of milk quality were compared during outdoor (from May to September) and indoor (from October to April) periods. The largest number of SCC was established in the smallest farms, i.e., in farms under 50 cows and 51-100 cows (respectively 264±9,19 and 300±10,24 thousand/ml). Reliable link between the smallest and largest dairy farms and farms with 101-200 and 201-400 cows and count of somatic cells in milk has not been established (P > 0.05). Bacteria count had a low tendency to decrease when the number of cows in farms increased. The highest bacteria number was determined in the farms with 51-100 cows and the the lowest bacteria count was in milk when 201-400 and more than 401 cows were kept. With increasing the number of cows milk maximal freezing temperature decreases (significant negative trend), i. e, indicator is improving. It should be noted that in all farms milk freezing point never exceeded requirements (-0.515 °C). The highest difference between SCC in milk during the indoor and outdoor periods was established in farms with 201-400 cows (respectively 218.49 thousand/ml and 268.84 thousand/ml). However, the count of SC was significantly higher (P < 0.05) during outdoor period in large farms (201-400 and more cows). There was no significant difference between bacteria count in milk during both – outdoor and indoor – periods (P > 0.05).

Keywords: bacteria, cow, farm size, somatic cell count

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Authors: Teerada Apibunyopas, Nithinant Thammakoranonta

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Many organizations bring e-Learning to use as a tool in their training and human development department. It is getting more popular because it is easy to access to get knowledge all the time and also it provides a rich content, which can develop the employees skill efficiently. This study focused on the factors that affect using e-Learning efficiently, so it will make job satisfaction increased. The questionnaires were sent to employees in large commercial banks, which use e-Learning located in Bangkok, the results from multiple linear regression analysis showed that employee’s characteristics, characteristics of e-Learning, learning and growth have influence on job satisfaction.

Keywords: e-Learning, job satisfaction, learning and growth, Bangkok

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Authors: Eranga N. Somaratna, Pradeep Dharmadasa

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In the current competitive environment, the factors leading to organization success are not limited to the investment of capital, labor, and raw material, but in the ability of knowledge innovation from all the members of an organization. However, knowledge on its own cannot provide organizations with its promised benefits unless it is shared, as organizations are increasingly experiencing unsuccessful knowledge sharing efforts. In such a backdrop and due to the dearth of research in this area in the South Asian context, the study set forth to develop an understanding of the factors that influence knowledge-sharing behavior within an organizational framework, using widely accepted social psychology theories. The purpose of the article is to discover the determinants of knowledge-sharing intention and actual knowledge sharing behaviors of bank employees in Sri Lanka using an aggregate model. Knowledge sharing intentions are widely discussed in literature through the application of Ajzen’s Theory of planned behavior (TPB) and Theory of Social Capital (SCT) separately. Both the theories are rich to explain knowledge sharing intention of workers with limitations. The study, therefore, combines the TPB with SCT in developing its conceptual model. Data were collected through a self-administrated paper-based questionnaire of 199 bank managers from 6 public and private banks of Sri Lanka and analyzed the suggested research model using Structural Equation Modelling (SEM). The study supported six of the nine hypotheses, where Attitudes toward Knowledge Sharing Behavior, Perceived Behavioral Control, Trust, Anticipated Reciprocal Relationships and Actual Knowledge Sharing Behavior were supported while Organizational Climate, Sense of Self-Worth and Anticipated Extrinsic Rewards were not, in determining knowledge sharing intentions. Furthermore, the study investigated the effect of demographic factors of bankers (age, gender, position, education, and experiences) to the actual knowledge sharing behavior. However, findings should be confirmed using a larger sample, as well as through cross-sectional studies. The results highlight the need for theoreticians to combined TPB and SCT in understanding knowledge workers’ intentions and actual behavior; and for practitioners to focus on the perceptions and needs of the individual knowledge worker and the need to cultivate a culture of sharing knowledge in the organization for their mutual benefit.

Keywords: banks, employees behavior, knowledge management, knowledge sharing

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Authors: Patricia P. M. C. Lourenço

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South Korean Entertainment Industry has reversed the gender binary through Beast and Beauty Korean dramas that perpetuate Korean unrealistic beauty standards by emphasizing freckles, acne, pimples, excessive weight, fizzy hair, glasses, and braces as ugly and unattractive, therefore in need of correction to fit into society’s pre-established beauty mould. This pursuit of physical beauty as a happiness goal only detracts singularity in favour of mundaneness, sustaining the illusion that unsightly women need to undergo a physical transformation to improve their lives while handsome, wealthy men need not do anything more than altruistically accept them for who they really are inside. Five Beast and Beauty dramas were analysed for this paper. The assessment revealed that there is standardization and typecasting of Beast and Beauty roles in K-Dramas, a reflection of South Korean’s patriarchal society where women and men are continuously expected to fulfil their pre-established gender binary roles and stereotypes.

Keywords: K-dramas, beauty, low self-esteem, plastic surgery, South Korean stereotypes

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Authors: Julia Yi

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Using the Household Pulse Survey conducted by the U.S Census Bureau, this study finds that the pandemic increased the prevalence and inequality of food insecurity among US households. About 28% of households were food secure, which doubled the 2019 level. Hispanic and black, low-income households, households lost income, and households with children were impacted most. Food banks provided most free groceries and meals. This study recommends mobilizing emergency food organizations, improving food assistance programs and supply chains, and creating innovative community support.

Keywords: covid-19 pandemic, food insecurity, US, inequality

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Authors: Jiashu Shen

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Objectives: Spirometry is a basic reference for health evaluation which is widely used in clinical. Previous reference of spirometry is not applicable because of drastic changes of social and natural circumstance in China. A new reference values for the spirometry of the Chinese population is extremely needed. Method: Spirometric reference value was established using the statistical modeling method Generalized Additive Models for Location, Scale and Shape for forced expiratory volume in 1 s (FEV1), forced vital capacity (FVC), FEV1/FVC, and maximal mid-expiratory flow (MMEF). Results: Data from 236,606 healthy non-smokers aged 4–90 years was collected from the MJ Health Check database. Spirometry equations for FEV1, FVC, MMEF, and FEV1/FVC were established, including the predicted values and lower limits of normal (LLNs) by sex. The predictive equations that were developed for the spirometric results elaborated the relationship between spirometry and age, and they eliminated the effects of height as a variable. Most previous predictive equations for Chinese spirometry were significantly overestimated (to be exact, with mean differences of 22.21% in FEV1 and 31.39% in FVC for males, along with differences of 26.93% in FEV1 and 35.76% in FVC for females) or underestimated (with mean differences of -5.81% in MMEF and -14.56% in FEV1/FVC for males, along with a difference of -14.54% in FEV1/FVC for females) the results of lung function measurements as found in this study. Through cross-validation, our equations were established as having good fit, and the means of the measured value and the estimated value were compared, with good results. Conclusions: Our study updates the spirometric reference equations for Chinese people of all ages and provides comprehensive values for both physical examination and clinical diagnosis.

Keywords: Chinese, GAMLSS model, reference values, spirometry

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