Search results for: finance

Authors: A. Hol

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21^st century brought waves of business and industry eTransformations. The impact of change is also being seen in education. To identify the extent of this, scenario analysis methodology was utilised with the aim to assess business transformations across industry sectors ranging from craftsmanship, medicine, finance and manufacture to innovations and adoptions of new technologies and business models. Firstly, scenarios were drafted based on the current eTransformation models and its dimensions. Following this, eTransformation framework was utilised with the aim to derive the key eTransformation parameters, the essential characteristics that have enabled eTransformations across the sectors. Following this, identified key parameters were mapped to the transforming domain-education. The mapping assisted in deriving a cognitive eTransformation framework for education sector. The framework highlights the importance of context and the notion that education today needs not only to deliver content to students but it also needs to be able to meet the dynamically changing demands of specific student and industry groups. Furthermore, it pinpoints that for such processes to be supported, specific technology is required, so that instant, on demand and periodic feedback as well as flexible, dynamically expanding study content can be sought and received via multiple education mediums.

Keywords: education sector, business transformation, eTransformation model, cognitive model, cognitive systems, eTransformation

Procedia PDF Downloads 133

Authors: Ayoub Ali Maulana

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“The success and sustainability of an Islamic finance system depends on the ability to establish a comprehensive legal and regulatory framework that supports synergy amongst the components in the system”. Numbers of banks have introduced Islamic banking windows claiming that their products follow Islamic banking values without any compromise. National Bank of Commerce Limited, Stanbic Bank Limited, Kenya Commercial Bank, The Peoples Bank of Zanzibar and Amana Bank Limited are some of the banks which offer Islamic banking products in Tanzania. To date, there is no single provision in Tanzanian laws that speak of Islamic banking activities in the country. Despite the fact that consultancy commissioned to International Monetary Fund (IMF) to research on the best laws to govern Islamic banking industry in the country, the speed is not encouraging in making sure that the same is introduced as soon as possible. This paper highlights the trend of the banking services in Tanzania and examines the application of Islamic banking system in the Tanzanian conventional banking environment. In particular the paper considers whether the Islamic banking services in Tanzania can survive without an appropriate legal framework that accommodates it.

Keywords: islamic banks, interest, islamic windows, Tanzania

Procedia PDF Downloads 342

Authors: Chih-Mei Wang, Jon-Chao Hong, Jian-Hong Ye, Jing-Yun Fan, Chiao-Fei Lin

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The value of a certificate is to implement the criteria for evaluating work ability. Some professional certificates may make people feel good, but they are not useful in the workplace. To address this issue, this study is based on the expectancy-value model to take financial certificates as an example to explore how participants perceived the value of obtaining certification related to their usage perception of career promotion and salary increase. A total of 339 valid samples were subjected to confirmatory factor analysis and structural equation modeling; the results showed that the number of professional certificates was not significantly correlated with career promotion, but the number of professional certificates is negatively related to salary and benefits (S&B), while career promotion and S&B were positively related to job performance. The results show that the number of professional certificates does not play a significant role in the expectancy-value model. Therefore, professional certifications related to a basic level of finance was not expected to obtain in Taiwan's financial industry, and it is important to study the usefulness of some other certificates in other competitive industry.

Keywords: career promotion, certificate, compensation and benefits, goal-directed behaviors, Job performance

Procedia PDF Downloads 188

Authors: Frederic Jumelle, Kelvin So, Didan Deng

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In this paper, we are introducing a model of artificial general intelligence (AGI), the functional neural network (FNN), for modeling human decision-making processes. The FNN is composed of multiple artificial mirror neurons (AMN) racing in the network. Each AMN has a similar structure programmed independently by the users and composed of an intention wheel, a motor core, and a sensory core racing at a specific velocity. The mathematics of the node’s formulation and the racing mechanism of multiple nodes in the network will be discussed, and the group decision process with fuzzy logic and the transformation of these conceptual methods into practical methods of simulation and in operations will be developed. Eventually, we will describe some possible future research directions in the fields of finance, education, and medicine, including the opportunity to design an intelligent learning agent with application in AGI. We believe that FNN has a promising potential to transform the way we can compute decision-making and lead to a new generation of AI chips for seamless human-machine interactions (HMI).

Keywords: neural computing, human machine interation, artificial general intelligence, decision processing

Procedia PDF Downloads 120

Authors: Patria Yunita

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Kuznets’ environmental curve analysis suggests sacrificing economic development to reduce environmental problems. However, we hope to achieve sustainable economic development. In this case, Islamic social finance, especially that of waqf in Indonesia, can be used as a solution to bridge the problem of environmental damage to the sustainability of economic development. The Panel Logit Regression method was used to analyze the probability of increasing economic growth and the role of waqf in the environmental impact of CO₂ emissions. This study uses panel data from 33 Indonesian provinces. The data used were the National Waqf Index, Forest Area, Waqf Land Area, Growth Rate of Regional Gross Domestic Product (YoY), and CO₂ Emissions for 2018-2022. Data were obtained from the Indonesian Waqf Board, Climate World Data, the Ministry of the Environment, and the Bank of Indonesia. The results prove that CO₂ emissions have a negative effect on regional economic growth and that waqf governance in the waqf index has a positive effect on regional economic growth in 33 provinces.

Keywords: waqf, CO₂ emissions, panel logit analysis, sustainable economic development

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Authors: Manjinder Singh, Anish Sachdeva

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Research on total quality management (TQM), total productive maintenance (TPM), international organization for standardization (ISO) and six sigma generally investigate the implementation and impact of these programs in isolation. However, none of these quality improvement programs is self-sufficient and they may not be powerful enough to deliver the improvements and innovations that are required nowadays to ensure the survival and growth of a firm. They are not mutually exclusive and inconsistent. On the contrary, they need complementary support and may reinforce mutually to make use of their complementarity, inducement of side-effects in favor of other quality improvement program, mutual simulation and exploitation of shared values. In this paper, first of all, the various management activities were identified which are normally under focus when any quality improvement program is implemented in any organization. Then TOPSIS methodology was applied to establish the ranking of various quality improvement programs (total quality management, total productive maintenance, ISO and six sigma which were brought to the corporate boardroom to improve the quality) with respect to different management activities (operations related activities, quality related activities, maintenance related activities, organizational related activities, human related activities and finance related activities).

Keywords: total productive maintenance (TPM), total quality management (TQM), TOPSIS, international organization for standardization (ISO)

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Authors: Aklilu Alemu, Tak Cheung Chan

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Following the intensification of secondary education in the developing world, the attention of Ethiopia has currently shifted to its quality education and its management. This study is aimed to explore experts’ perceptions of quality management challenges in secondary education in Ethiopia. The researchers employed a case study design recruiting participating supervisors from the Ministry of Education, region, zone, wereda, and cluster by using a purposeful sampling technique. Twenty-six interviewees took part in this study. The researchers employed NVivo 8 versions together with a thematic analysis process to analyze the data. This study revealed that major problems that affected quality management practices in Ethiopia were: lack of qualified experts at all levels; lack of accountability in every echelon; the changing nature of teacher education; the ineffectiveness of teacher-licensing programs; and lack of educational budget and the problem of utilizing this limited budget. The study concluded that the experts at different levels were not genuinely fulfilling their roles and responsibilities. Therefore, the Ministry of Finance and Economic Development, together with the concerned parties, needs to reconsider budget allocation for secondary education.

Keywords: education quality, Ethiopia, quality challenge, quality management, secondary education

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Authors: Rihab Hentati, Younes Boujelbene

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Nowadays we realize more and more than the value of a company is not only a function of its means of production but depends essentially on the managerial aptitude and orientation to implement the material and human means for generating profitability. Indeed, a productive R&D activity, a good strategy, and innovation are originally supplementary benefits that increase the value of the business. Is this ‘value-added’ closely linked to innovation? The purpose of our research is to Meta-analyze the results of 56 empirical studies in order to explain the overall effect of innovation on performance of small and medium-sized enterprises. In order to justify the differences in the results, we look for the moderating factors that may affect the innovation-performance relationship. We find a positive and significant relationship between innovation and performance in small and medium-sized enterprises. The results also note a positive relationship between entrepreneurial orientation, research and development (R&D), and performance in SMEs. In addition, innovation has a strong impact on performance measured both with accounting and market index. The originality of the article is based on a rigorous synthesis, based on several statistical tools, of an important subject of research in finance.

Keywords: innovation, performance, entrepreneurial orientation, meta-analysis, moderator variables

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Authors: Elriena Eksteen, Yolandi Willemse, Dawie D. J. Malan, Suria Ellis

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It is important to understand which competencies are needed for managerial and administrative effectiveness of school sport managers with regard to the design, delivery and direction of school sport programmes. The purpose of this study was to determine the competencies and training needs for secondary school sport managers in the North West Province. Data were gathered from 79 school sport managers in the North West Province by means of a validated self-compiled questionnaire. Descriptive statistics, factor analysis and a dependent t-test were used to compare which competencies school sport managers perceive as important in their work with the competencies they actually perform. Functional competencies and core competencies were both found to be important for managing school sport effectively. There were statistically significant differences between the perceived importance of competencies and the frequency with which competencies were actually performed. Respondents attached greater importance to functional and core competencies than the proportion of time spent actually performing them. Furthermore, results indicated the need to train teachers in managing sport finance, sport facilities and human resources, as well as presenting workshops in public relations, sport marketing and sport organisation.

Keywords: competencies, functional competencies, core competencies, school sport manager, training needs

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Authors: Azrul Azlan Iskandar Mirza

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The purpose of Funds Transfer Pricing (FTP) for Islamic Bank is to promote prudent liquidity risk-taking behavior of business units. The acquirer of stable deposits will be rewarded whilst a business unit that generates long-term assets will be charged for added liquidity funding risks. In the end, it promotes risk-adjusted pricing by incorporating profit rate risk and liquidity risk component in the product pricing. However, in the event of Shariah non-compliant (SNCE), FTP components will be examined in the rectification plan especially when Islamic banks need to purify the non-compliance income. The finding shows that the determination between actual and provision cost will defer the decision among Shariah committee in Islamic banks. This paper will review each of FTP components to ensure the classification of actual and provision costs reflect the decision on rectification process on SNCE. This will benefit future decision and its consistency of Islamic banks.

Keywords: fund transfer pricing, Islamic banking, Islamic finance, shariah non-compliant event

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Authors: Majid Al-Busafi, Almur Al-Hashmi

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The aim of this study was to identify the difficulties of planning and organizational, technical and finance facing sports clubs in the Sultanate of Oman. To answer the research questions, the researchers set up and developed a questionnaire as a major tool for the study. The researchers also conducted field visits to targeted clubs, collecting documents and publications related to the current situation of these clubs. The study sample (totaling 231) was selected of boards members of sports clubs and federations, executive staff of the Ministry of Sports Affairs, sports clubs and federations, and the media. The results indicated that the order of the difficulties faced by sports clubs is as follows: planning difficulties, the financial difficulties, technical difficulties and fourth and finally organizational difficulties. The study recommended the need to develop long-term plans and a timetable for the activities of the federations or the clubs. It is also important not to ignore to plan the qualification activities for the workers in the federations and clubs. Finally, there is a need to develop regulated forms of relations between members in the clubs. This study makes an original contribution to knowledge as it addresses needs in a country with no clear clubs systems and is informed by case studies from other countries, two of which have similar cultural contexts.

Keywords: sports club, sports federation, difficulties, plans

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Authors: Girma Yohannis Bade, Olga Kolesnikova, Grigori Sidorov

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Named entity recognition (NER) is a building block for information extraction. Though the information extraction process has been automated using a variety of techniques to find and extract a piece of relevant information from unstructured documents, the discovery of targeted knowledge still poses a number of research difficulties because of the variability and lack of structure in Web data. NER, a subtask of information extraction (IE), came to exist to smooth such difficulty. It deals with finding the proper names (named entities), such as the name of the person, country, location, organization, dates, and event in a document, and categorizing them as predetermined labels, which is an initial step in IE tasks. This survey paper presents the roles and importance of NER to IE from the perspective of different algorithms and application area domains. Thus, this paper well summarizes how researchers implemented NER in particular application areas like finance, medicine, defense, business, food science, archeology, and so on. It also outlines the three types of sequence labeling algorithms for NER such as feature-based, neural network-based, and rule-based. Finally, the state-of-the-art and evaluation metrics of NER were presented.

Keywords: the role of NER, named entity recognition, information extraction, sequence labeling algorithms, named entity application area

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Authors: Javier Donoso-Bravo, Camila Cortés-Zambrano

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In this paper, we analyze socioterritorial inequalities in the region of Valparaiso (Chile) using secondary data to account for these inequalities drawing on economic, social, educational, and environmental dimensions regarding the thirty-six municipalities of the region. We looked over a wide-ranging set of secondary data from public sources regarding economic activities, poverty, employment, income, years of education, post-secondary education access, green areas, access to potable water, and others. We found sharp socioterritorial inequalities especially based on the economic performance in each territory. Analysis show, on the one hand, the existence of a dual and unorganized development model in some territories with a strong economic activity -especially in the areas of finance, real estate, mining, and vineyards- but, at the same time, with poor social indicators. On the other hand, most of the territories show a dispersed model with very little dynamic economic activities and very poor social development. Finally, we discuss how socioterritorial inequalities in the region of Valparaiso reflect the level of globalization of the economic activities carried on in every territory.

Keywords: socioterritorial inequalities, development model, Chile, secondary data, Region of Valparaiso

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Authors: Ana Cristina A. P. Carvalho, Solange Teles Da Silva

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In April, 174 countries signed the Paris Agreement, a multilateral agreement on climate change which deals with greenhouse gas emissions, mitigation, adaptation, finance, access to information, transparency, among other subjects related to the environment. Since then, Parties shall cooperate in taking measures, as appropriate, to enhance climate change education, training, public awareness, public participation and public access to information, recognizing the importance of these steps with respect to enhancing actions under this Agreement. This paper aims to analyze the consequences of this new rule in terms of the implementation of the Agreement, collecting data from Brazilian and Canadian legislations in order to identify if these countries have rules complying with the Treaty, the steps that have been already taken and if they could be used as examples for other countries. The analysis will take into consideration the different kinds of climate change information, means of transparency, reliability of the data and how to spread the information. The methodology comprehends a comparative legal research based on both the Paris Agreement and domestic laws of Brazil and Canada, as well as on doctrine and Court decisions. The findings can contribute to the implementation of the Paris Agreement through compliance with this Treaty at countries’ domestic and policy level.

Keywords: climate change information, domestic legislation, Paris Agreement, public policy

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Authors: A. Khelifi, M. Al Kaabi, B. Al Rawashdeh

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The infrastructure is one of the most important pillars of the UAE, where it spends millions of dollars for investments in the construction sectors. The research done by Kuwait Finance House (KFH) Research showed clearly that the UAE investments in the construction sectors have exceeded 30 billion dollars in 2013. There are many construction companies in the UAE and each one of them is taking the responsibilities to build different infrastructures. The large scale construction projects consist of multi human activities which can affect the efficiency and productivity of the running projects. The Construction Administration System is developed to increase the efficiency and productivity at the construction sites. It runs on two platforms: web server and mobile phone and supports two main users: mobile user and institution employee. With Construction Administration Mobile Application the user can manage and control several projects, create several reports and send these reports in Portable Document Format (PDF) formats through emails, view the physical location of each project, capturing and save photos. An institution employee can use the system to view all existing workers and projects, send emails and view the progress of each project.

Keywords: construction sites, management, mobile application, Portable Document Format (PDF)

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Authors: Ishna Indika Jusi, Rifana Meika

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Terrorism financing method in Indonesia is developing at an alarming rate, to the point, it is now becoming more complex than before. Terrorists traditionally use conventional methods like robberies, charities, and courier services to fund their activities; today terrorists are able to utilize modern methods in financing their activities due to the rapid development in financial technology nowadays; one example is by hacking an illegal Fintech Company. Therefore, this research is conducted in order to explain and analyze the consideration behind the usage of an illegal fintech company to finance terrorism activities and how to prevent it. The analysis in this research is done by using the theory that is coined by Michael Freeman about the reasoning of terrorists when choosing their financing method. The method used in this research is a case study, and the case that is used for this research is the terrorism financing hacking of speedline.com in 2011 by Rizki Gunawan. Research data are acquired from interviews with the perpetrators, experts from INTRAC (PPATK), Special Detachment 88, reports, and journals that are relevant to the research. As a result, this study found that the priority aspects in terms of terrorist financing are security, quantity, and simplicity while obtaining funds.

Keywords: Fintech, illegal, Indonesia, technology, terrorism financing

Procedia PDF Downloads 167

Authors: Thomas Yeboah

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In recent times, micro-finance programmes targeting women have become the central means of donor poverty alleviation strategies. In view of the renewed focus on post-Millennium Development Goals (MDGs) poverty reduction strategies, there is the likelihood that funding might increase in the next coming decades to support different initiatives by donor agencies. In this paper, we critically examine the role of microfinance in shaping gender relations and empowerment outcomes of women. It is widely argued that providing and reaching out to women with credit methodologies serves as a means of increasing women’s bargaining power and challenging existing gender subordination thereby releasing them from power structures which dominate their lives. This paper cautions this view and instead show that the mainstream argument surrounding microfinance and gender empowerment is much complex than what the popular rhetoric preaches. Drawing on empirical cases on microfinance literature, we argue that lack of systematic strategy to incorporate men and the wider socio-cultural dynamics within which women’s lives are embedded radically constraints the empowerment potential of microcredit programmes and in some context may lead to unintended consequences for women.

Keywords: microfinance, empowerment, women, men, gender relations

Procedia PDF Downloads 449

Authors: Abderrazek Ben Maatoug, Ibrahim Fatnassi, Wassim Ben Ayed

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In this paper we investigate the issue of market risk quantification for Middle East and North Africa (MENA) Islamic market equity. We use Value-at-Risk (VaR) as a measure of potential risk in Islamic stock market, for long and short position, based on Riskmetrics model and the conditional parametric ARCH class model volatility with normal, student and skewed student distribution. The sample consist of daily data for the 2006-2014 of 11 Islamic stock markets indices. We conduct Kupiec and Engle and Manganelli tests to evaluate the performance for each model. The main finding of our empirical results show that (i) the superior performance of VaR models based on the Student and skewed Student distribution, for the significance level of α=1% , for all Islamic stock market indices, and for both long and short trading positions (ii) Risk Metrics model, and VaR model based on conditional volatility with normal distribution provides the best accurate VaR estimations for both long and short trading positions for a significance level of α=5%.

Keywords: value-at-risk, risk management, islamic finance, GARCH models

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Authors: Razan Salem

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Men and women are different, and so their investment behaviors may also vary. To the author’s best knowledge, women's investment behavior and its association with demographic factors have not been explored directly in the behavioral finance literature, however, particularly in respect to the Arab region. Thus, this study extends the literature by focusing on examining the association of demographic factors (age, annual income, and education) with Arab women’s investment behavior. To achieve the study’s aim, the researcher distributed 600 close-ended online questionnaires to a sample of Arab male and female individual investors in both Saudi Arabia and Jordan; using Kruskal-Wallis H Test and the Mann-Whitney U Test to analyze the data. The findings reveal that age, education, and level of income are associated with Arab women’s investment behavior. Educational level and level of income are positively associated with Arab women investment confidence level. On the contrary, age is negatively associated with Arab women financial risk tolerance. According to annual income, Arab women with lower incomes have lower confidence and investment literacy levels. Overall, the study concludes that age, income, and education are important demographic factors that must be considered when investigating the investment behavior of women in the Arab region.

Keywords: Arab region, demographic factors, investment behavior, women investors

Procedia PDF Downloads 157

Authors: Sufia Maroof

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This empirical study investigated the web-translations of five Pakistani public offices (FPSC, FIA, HEC, USB, and Ministry of Finance) offering Urdu tab as an option to access information on their official websites. Triangulation of quantitative and qualitative research design informed the researcher of the semantic, lexical and syntactic caveats in these translations. The study hypothesized that majority of the Pakistani population is oblivious of the Supreme Court’s amendments in language policy concerning national and official language; hence, Urdu web-translations of the public departments have not been accessed effectively. Firstly, the researcher conducted an online survey, comprising of two sections, close ended and short answer based questions. Secondly, the researcher compiled corpus of the five selected websites in a tabular form to compare the data. Thirdly, the administrators of the departments had been contacted regarding the methods of translation and the expertise of the personnel involved. The corpus was assessed for TQA after examining the lexical, semantic, syntactical and technical alignment inaccuracies and imperfections. The study suggests the public offices to invest in their Urdu webs by either hiring expert translators or engaging expertise of a translation agency for this project to offer quality translation to public.

Keywords: machine translations, public offices, Urdu translations, websites

Procedia PDF Downloads 123

Authors: Leesa Mohanty, Ashok Banerjee

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Better audit quality signifies the financial statements of the auditee firm reflect true and fair view of their actual state of affairs, which reduces information asymmetry between management and shareholders, as a result, helps protect interests of shareholders. This study examines the impact of joint audit on audit quality. It is motivated by the ongoing debate where The Institute of Chartered Accountants of India (ICAI), the regulatory body governing auditors, has advocated the finance ministry and the Reserve Bank of India (RBI) for the mandatory use of joint audit in private banks to enhance the quality of audit. Earlier, the Government of India had rejected the plea by ICAI for mandatory joint audits in large companies stating it is not a viable option for promoting domestic firms. We introduce a new measure of audit quality. Drawing from the domain of text analytics, we use relevant phrases in audit reports to gauge audit quality and demonstrate that joint audit improves audit quality. We also, for robustness, use prevalent proxy for audit quality (Big N Auditor, ratio of audit fees to total fees) and find negative effect of joint audit on audit quality. We, therefore highlight that different proxy for audit quality show opposite effect of joint audit.

Keywords: audit fees, audit quality, Big N. Auditor, joint audit

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Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

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In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: equivalent martingale measure, European put option, girsanov theorem, martingales, monte carlo method, option price valuation formula

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Authors: Kalai Lamia, Jilani Faouzi

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Measuring and controlling risk is one of the most attractive issues in finance. With the persistence of uncontrolled and erratic stocks movements, volatility is perceived as a barometer of daily fluctuations. An objective measure of this variable seems then needed to control risks and cover those that are considered the most important. Non-linear autoregressive modeling is our first evaluation approach. In particular, we test the presence of “persistence” of conditional variance and the presence of a degree of a leverage effect. In order to resolve for the problem of “asymmetry” in volatility, the retained specifications point to the importance of stocks reactions in response to news. Effects of shocks on volatility highlight also the need to study the “long term” behaviour of conditional variance of stocks returns and articulate the presence of long memory and dependence of time series in the long run. We note that the integrated fractional autoregressive model allows for representing time series that show long-term conditional variance thanks to fractional integration parameters. In order to stop at the dynamics that manage time series, a comparative study of the results of the different models will allow for better understanding volatility structure over the Tunisia stock market, with the aim of accurately predicting fluctuation risks.

Keywords: asymmetry volatility, clustering, stylised facts, leverage effect

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Authors: Fatma Ismailia, Malek Saihi

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This research provides an explanation of exchange incentives on the Tunis stock market from a behavioural point of view. The elucidation of the anomalies of excessive volume of transactions and that of excessive volatility cannot be done without the recourse to the psychological aspects of investors. The excessive confidence has been given the predominant role for the explanation of these phenomena. Indeed, when investors store increments, they become more confident about the precision of their private information and their exchange activities then become more aggressive on the subsequent periods. These overconfident investors carry out the intensive exchanges leading to an increase of securities volatility. The objective of this research is to identify whether the trading volume and the excessive volatility of securities observed on the Tunisian stock market come from the excessive exchange of overconfident investors. We use a sample of daily observations over the period January 1999 - October 2007 and we relied on various econometric tests including the VAR model. Our results provide evidence on the importance to consider the bias of overconfidence in the analysis of Tunis stock exchange specificities. The results reveal that the excess of confidence has a major impact on the trading volume while using daily temporal intervals.

Keywords: overconfidence, trading volume, efficiency, rationality, anomalies, behavioural finance, cognitive biases

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Authors: Jan-Philipp Schiele, Karsten Schlinkmeier

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Allocation of scarce resources is a core process of traditional project portfolio management. However, with the popularity of agile methodology, established concepts and methods of portfolio management are reaching their limits and need to be adapted. Consequently, the question arises of how the process of resource allocation can be managed appropriately in scaled agile environments. The prevailing framework SAFe offers Weightest Shortest Job First (WSJF) as a prioritization technique, butestablished companies are still looking for methodical adaptions to apply WSJF for prioritization in portfolios in a more goal-oriented way and aligned for their needs in practice. In this paper, the relevant problem of prioritization in portfolios is conceptualized from the perspective of coordination and related mechanisms to support resource allocation. Further, an Action Design Research (ADR) project with case studies in a finance company is outlined to develop a practically applicable yet scientifically sound prioritization method based on coordination theory. The ADR project will be flanked by consortium research with various practitioners from the financial and insurance industry. Preliminary design requirements indicate that the use of a feedback loop leads to better team and executive level coordination in the prioritization process.

Keywords: scaled agility, portfolio management, prioritization, business-IT alignment

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Authors: Olufemi Adedamola Oyedele

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Infrastructure provision in Nigeria is now at its lowest ebb in spite of its being critical to the socio-economic and political development of any nation. This is partly because the policy that will ensure its adequate provisioning is missing and partly because politics is affecting its provision. Policy is the basic principles by which a government is guided. Infrastructural development is the basis for measuring the performance of governments and it is the foundation of good governance. Demand for infrastructural development is higher and resources used in its provision are limited. Ethnic-interest agitation and lobbying for infrastructure provision are common things in multi-ethnic state like Nigeria. Most infrastructures are now decayed and need repair or replacement. Government is the system that organizes, control and sensitizes the people in a society in other for all to have an acceptable level of living. Governments have the power to put in place all measures that they deem fit will make an environment conducive for living for everybody. Infrastructure development in any environment requires needs assessment, feasibility and viability studies and carrying out physical development of the project. The challenge in Nigeria is largely carrying out development where they are not needed but where the people are loyal. There are numerous abandoned projects because they were started due to politics and not because they are feasible. Policies and politics greatly affect infrastructure provisioning in Nigeria and this is the premise of this paper.

Keywords: infrastructure challenges, infrastructure development, policy making, politics, project finance

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Authors: F. O. Adeosun, I. O. Orubuloye, O. O. Babalola

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Although caesarean section has greatly improved obstetric care throughout the world, in developing countries there is a great aversion to caesarean section. This study was carried out to examine the rate at which pregnant women with pre-eclampsia choose caesarean section over natural birth. A cross-sectional study was conducted among 500 pre-eclampsia antenatal clients seen at the States University Teaching Hospitals in the last one year. The sample selection was purposive. Information on their educational background, beliefs and attitudes were collected. Data analysis was presented using simple percentages. Out of 500 women studied, 38% favored caesarean section while 62% were against it. About 89% of them understood what caesarean section is, 57.3% of those who understood what caesarean section is will still not choose it as an option. Over 85% of the women believed caesarean section is done for medical reasons. If caesarean section is given as an option for childbirth, 38% would go for it, 29% would try religious intervention, 5.5% would not choose it because of fear, while 27.5% would reject it because they believe it is culturally wrong. Majority of respondents (85%) who favored caesarean delivery are aware of the risk attached to choosing virginal birth but go an extra mile in sourcing funds for a caesarean session while over 64% cannot afford the cost of caesarean delivery. It is therefore pertinent to encourage research in prediction methods and prevention of occurrence, since this would assist patients to plan on how to finance treatment.

Keywords: caesarean section, choice, cost, pre eclampsia, prediction methods

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Authors: Andrew Clark

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McCauley, Bassler, and Gunaratne show that integration I(d) processes as used in economics and finance do not necessarily produce stationary increments, which are required to determine causality in both the short term and the long term. This paper follows their lead and shows I(d) aluminum cash and futures log prices at daily and weekly intervals do not have stationary increments, which means prior causality studies using I(d) processes need to be re-examined. Wavelets based on undifferenced cash and futures log prices do have stationary increments and are used along with transfer entropy (versus cointegration) to measure causality. Wavelets exhibit causality at most daily time scales out to 1 year, and weekly time scales out to 1 year and more. To determine stationarity, localized stationary wavelets are used. LSWs have the benefit, versus other means of testing for stationarity, of using multiple hypothesis tests to determine stationarity. As informational flows exist between cash and futures at daily and weekly intervals, the aluminum market is efficient. Therefore, hedges used by producers and consumers of aluminum need not have a big concern in terms of the underestimation of hedge ratios. Questions about arbitrage given efficiency are addressed in the paper.

Keywords: transfer entropy, nonstationary increments, wavelets, localized stationary wavelets, localized stationary wavelets

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Authors: Paramita Nur Kurniati, Stanislaus Riyanta

Abstract:

In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.

Keywords: cashless basis, cashless society, government credit card, public sector innovation

Procedia PDF Downloads 144

Authors: Musa M. Umar, S. G. Ado

Abstract:

The paper examines the activities of the National Programme for food security (NPFS) for averting food insecurity in Nigeria and beyond. The components of the NPFS include site development, outreach, community development and management support. On each site, core activities comprise crop productivity, production diversification and agro-processing. The outreach activities consist of inputs and commodity marketing, rural finance, strengthening research-extension-farmers-inputs linkages, health and nutrition and expansion of site activities. The community development activities include small-scale rural infrastructure, micro-earth dams and community forestry. The overall benefits include food security, improved productivity, marketing and processing, enhanced land and water use, increased animal production and fish catches, improved nutrition, reduction in post-harvest losses and value addition, improved rural infrastructure and diversification of production leading to improved livelihood. The NPFS would poster sustained development of small-holder agricultural and income generation.

Keywords: food-security, community development, post-harvest, production

Procedia PDF Downloads 350