Search results for: fixed income securities

Authors: Hudson Akewe

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In this study, we introduce a modified Jungck (Dual Jungck) iterative scheme and use the scheme to approximate the unique common fixed point of a pair of generalized contractive-like operators in a Banach space. The iterative scheme is also shown to be stable with respect to the maps (S,T). An example is taken to justify the convergence of the scheme. Our result is a generalization and improvement of several results in the literature on single map T.

Keywords: generalized contractive-like operators, modified Jungck iterative scheme, stability results, weakly compatible maps, unique common fixed point

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Authors: Juan F. Muñoz-Rosas, Rosa M. García-Fernández, Encarnación Álvarez-Verdejo, Pablo J. Moya-Fernández

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Poverty measurement is a very important topic in many studies in social sciences. One of the most important indicators when measuring poverty is the low income proportion. This indicator gives the proportion of people of a population classified as poor. This indicator is generally unknown, and for this reason, it is estimated by using survey data, which are obtained by official surveys carried out by many statistical agencies such as Eurostat. The main feature of the mentioned survey data is the fact that they contain several variables. The variable used to estimate the low income proportion is called as the variable of interest. The survey data may contain several additional variables, also named as the auxiliary variables, related to the variable of interest, and if this is the situation, they could be used to improve the estimation of the low income proportion. In this paper, we use Monte Carlo simulation studies to analyze numerically the performance of estimators based on several auxiliary variables. In this simulation study, we considered real data sets obtained from the 2011 European Union Survey on Income and Living Condition. Results derived from this study indicate that the estimators based on auxiliary variables are more accurate than the naive estimator.

Keywords: inclusion probability, poverty, poverty line, survey sampling

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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

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Authors: Sitti Nurani Sirajuddin, Muh. Aminawar, Siti Nurlaelah, Amidah Amrawaty

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This study aimed to determine the income of beef cattle breeders from the traditional profit-sharing system named Tesang. This study was conducted in the province of South Sulawesi start from April to July 2014, used quantitative methods and data analysis is of income. The population is all beef cattle breeders who perform for the traditional profit-sharing system (Tesang) in Barru Regency and Bone Regency, province of South Sulawesi. Samples are beef cattle breeders who breeding the cattle with the traditional profit-sharing system (Tesang) in Barru Regency and Bone Regency using breeding system and cattle enlargement system (expense) by fifty breeders. The results showed beef cattle breeder’s income from the profit-sharing system (Tesang) where enlargement system (expense) at6th month maintenance periods higher than the profit-sharing system (Tesang) with using breeding the cattle.

Keywords: income, beef cattle, profit-sharing system, Teseng

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Authors: Eithan Hourie, Miki Malul, Raphael Bar-El

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To investigate the relationship between various welfare policies and the value of job security, we conducted a study with 201 people regarding their assessments of the value of job security with respect to three elements: income stability, assurance of continuity of employment, and security in the job. The experiment simulated different welfare policy scenarios, such as the amount and duration of unemployment benefits, workfare, and basic income. The participants evaluated the value of job security in various situations. We found that the value of job security is approximately 22% of the starting salary, which is distributed as follows: 13% reflects income security, 8.7% reflects job security, and about 0.3% is for being able to keep their current employment in the future. To the best of our knowledge, this article is one of the pioneers in trying to quantify the value of job security in different market scenarios and at varying levels of welfare policy. Our conclusions may help decision-makers when deciding on a welfare policy.

Keywords: job security value, employment protection legislation, status quo bias, expanding welfare policy

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Authors: Encarnación Álvarez, Rosa M. García-Fernández, Francisco J. Blanco-Encomienda, Juan F. Muñoz

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The European Union Survey on Income and Living Conditions (EU-SILC) is a popular survey which provides information on income, poverty, social exclusion and living conditions of households and individuals in the European Union. The EUSILC contains variables which may contain outliers. The presence of outliers can have an impact on the measures and indicators used by the EU-SILC. In this paper, we used data sets from various countries to analyze the presence of outliers. In addition, we obtain some indicators after removing these outliers, and a comparison between both situations can be observed. Finally, some conclusions are obtained.

Keywords: poverty line, headcount index, risk of poverty, skewness coefficient

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Authors: Kazuo Nishimura, Junichi Hirata, Tadashi Yagi, Junko Urasaka

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This paper is an investigation of the effect of science education during the high school education how science graduates of universities are appreciated in the labor market in Japan. We conducted a survey utilizing the internet and analyzed the subjects they were good at and their annual income. The results confirm that among science graduates, workers adept at physics tend to have higher incomes compared to workers good at other subjects. Generational analysis based on the curriculum guideline amendments reveals that the generational difference is small among science majors who are good at physics.

Keywords: curriculum, income, physics, science

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Saba Arif, Anam Nadeem, Roman Kalvin, Tanzeel Rashid, Burhan Ali, Juntakan Taweekun

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Currently, the energy crisis is taking serious attention. Globally, industries and building are major share takers of energy. 72% of total global energy is consumed by residential houses, markets, and commercial building. Additionally, in appliances air conditioners are major consumer of electricity; about 60% energy is used for cooling purpose in houses due to HVAC units. Energy demand will aid in determining what changes will be needed whether it is the estimation of the required energy for households or instituting conservation measures. Bottom-up model is one of the most famous methods for forecasting. In current research bottom-up model of air conditioners' energy consumption in all income classes in comparison with seasonal variation and hourly consumption is calculated. By comparison of energy consumption of all income classes by usage of air conditioners, total consumption of actual demand and current availability can be seen.

Keywords: air conditioning, bottom up model, income classes, energy demand

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Authors: Marcel Kohler

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The effect of trade liberalization on environmental conditions has yielded a great deal of debate in the current energy economics literature. Although research on the relationship between income growth and CO2 emissions is not new in South Africa, few studies address the role that South Africa’s foreign trade plays in this context. This paper undertakes to investigate empirically the impact of South Africa’s foreign trade reforms over the last four decades on its energy consumption and CO2 emissions by taking into account not only the direct effect of trade on each, but also its indirect effect through income induced growth. Using co integration techniques we attempt to disentangle the long and short-run relationship between trade openness, income per capita and energy consumption and CO2 emissions in South Africa. The preliminary results of this study find support for a positive bi-directional relationship between output and CO2 emissions, as well as between trade openness and CO2. This evidence confirms the expectation that as the South African economy opens up to foreign trade and experiences growth in per capita income, the countries CO2 emissions will increase.

Keywords: trade openness, CO2 emissions, cointegration, South Africa

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Authors: Temidayo James Aransiola, Vania Ceccato, Marcelo Justus

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This paper investigates the effect of absolute deprivation (proxy unemployment) and relative deprivation (proxy income inequality) on homicide levels in Brazil. A database from the Brazilian Information System about Mortality and Census of the year 2000 and 2010 was used to estimate negative binomial models of homicide levels controlling for socioeconomic, demographic and geographic factors. Findings show that unemployment and income inequality affect homicides levels and that the effect of the former is more pronounced compared to the latter. Moreover, the combination of income inequality and unemployment exacerbates the overall effect of deprivation on homicide levels.

Keywords: deprivation, inequality, interaction, unemployment, violence

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Authors: Hemant Kumar Pathak

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In 1994, Matthews (S.G. Matthews, Partial metric topology, in: Proc. 8th Summer Conference on General Topology and Applications, in: Ann. New York Acad. Sci., vol. 728, 1994, pp. 183-197) introduced the concept of a partial metric as a part of the study of denotational semantics of data flow networks. He gave a modified version of the Banach contraction principle, more suitable in this context. In fact, (complete) partial metric spaces constitute a suitable framework to model several distinguished examples of the theory of computation and also to model metric spaces via domain theory. In this paper, we introduce the concept of almost partial Hausdorff metric. We prove a fixed point theorem for multi-valued mappings on partial metric space using the concept of almost partial Hausdorff metric and prove an analogous to the well-known Nadler’s fixed point theorem. In the sequel, we derive a homotopy result as an application of our main result.

Keywords: fixed point, partial metric space, homotopy, physical sciences

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Authors: Paulinus W. Ihuah, Iyenemi Ibimina Kakulu, Victor A. Akujuru

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The development of the residential property is very expensive in Nigeria, especially as it is observed in Port Harcourt, although it is also investment costly in the other cities of Nigeria. The costly development nature incidentally reasons to the high deficits in residential property availability and affordability for the low-income people. Therefore, the main purpose of this paper is to provide sustainable accommodation design, which should improve residential property expensiveness and shortages for the low-income people. This is achieved through investigation of the tangible requirements and needs of the end-user of the property (low-income people), which thereafter would enhance sustainable and affordable residential property accommodation design for the end-users. Both the quantitative and qualitative instruments of data collection were utilised. The quantitative instrument via questionnaires was designed to examine the real needs and r requirement of the low-income people. However, the qualitative instrument via structured interview was espoused for the gathering of professionals’ opinions on the three predicted sustainable accommodation design alternatives. The analysis employed content analysis parameters, which offered a sustainable accommodation design and designed alternatives minimises costs and environmental impacts whereas exploiting the social satisfaction in residential accommodation developments. The finding underscores that sustainable accommodation design and development is practicable in Nigeria, so that cost of residential accommodation provided through this system is cheap to the low-income people. Further, erection of multi-storey residential accommodation units such as bedsit structure by utilising the concrete frame structure and building the internal and external walls with hollow concrete blocks within areas 60-130 square meters is encouraged. This paper philosophy indicates that by using sustainable accommodation design practices in Nigeria, improvements in the costs and shortages of residential accommodation can be attained for low-income people. However, policies support the government cannot be overemphasised for proper implementation of the suggested scheme.

Keywords: sustainable accommodation, housing design, residential property, low-income people

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Authors: Wondmnew Derebe Yohannis

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Farming irrigation plays a crucial role in rural development strategies, impacting both annual household income and livelihood. This research aims to evaluate the factors influencing irrigation participation and assess the impact of small-scale irrigation on rural households' annual income. The study collected data from 287 farmers in the Dahana district of northern Ethiopia. The research investigates the driving forces behind farmers' decisions to adopt small-scale irrigation and its effect on annual income gain. The findings reveal that several factors positively influence the probability of adoption, including access to credit, cultivated land size, livestock holding, extension contact, and the education level of the household head. Conversely, the distance to local markets and water schemes negatively affects the likelihood of adoption. To understand the differences in annual income between farm households that adopted irrigation and those that did not, a simultaneous equations model with endogenous switching regression is estimated. This accounts for the heterogeneity in the adoption decision and unobservable characteristics of farmers and their farms. The analysis compares the expected income gain under actual and counterfactual scenarios, considering whether the farm household adopted irrigation or not. The study reveals that the group of farm households that adopted irrigation has distinct characteristics compared to those that did not adopt it. Furthermore, the research demonstrates that the adoption of irrigation practices leads to an increase in annual income. Interestingly, the impact of small-scale irrigation on annual income is greater for the farm households that actually adopted irrigation compared to those in the counterfactual scenario where they did not adopt. Based on the findings, the researcher concludes that small-scale irrigation is a practical solution for meeting household financial needs in the study area. It is recommended that investments in small-scale irrigation continue to further improve the livelihoods of rural farming communities by enhancing annual income gains.

Keywords: small-scale irrigation, income, rural farm households, endogenous switching regression, user, non-user

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Authors: Karolína Vozková, Matěj Kuc

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This paper analyzes recent trends in cost efficiency of European cooperative banks using efficient frontier analysis. Our methodology is based on stochastic frontier analysis which is run on a set of 649 European cooperative banks using data between 2006 and 2015. Our results show that average inefficiency of European cooperative banks is increasing since 2008, smaller cooperative banks are significantly more efficient than the bigger ones over the whole time period and that share of net fee and commission income to total income surprisingly seems to have no impact on bank cost efficiency.

Keywords: cooperative banks, cost efficiency, efficient frontier analysis, stochastic frontier analysis, net fee and commission income

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Authors: O.O. Ehinmowo, A.I. Fatuase, D.F. Oke

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Nigeria is endowed with resources that could boost the economy as well as generate income and provide jobs to the teaming populace. One of the keys of attaining this is by making the environment conducive for the entrepreneurs to excel in their respective enterprises so that more income could be accrued to the entrepreneurs. This study therefore examines income inequality among selected entrepreneurs in Ondo State, Nigeria using primary data. A multistage sampling technique was used to select 200 respondents for the study with the aid of structured questionnaire and personal interview. The data collected were subjected to descriptive statistics, Lorenz curve, Gini coefficient and Double - Log regression model. Results revealed that majority of the entrepreneurs (63%) were males and 90% were married with an average age of 44 years. About 40% of the respondents spent at most 12 years in school with 81% of the respondents had 4-6 members per household, while hair dressing (43.5%) and fashion designing (31.5%) were the most common enterprises among the sampled respondents. The findings also showed that majority of the entrepreneurs in hairdressing, fashion designing and laundry service earned below N200,000 per annum while the majority of those in restaurant and food vending earned between N400,000 – N600,000 followed by the entrepreneurs in pure water enterprise where majority earned N800,000 and above per annum. The result of the Gini coefficient (0.58) indicated that there was presence of inequality among the entrepreneurs which was also affirmed by the Lorenz curve. The Regression results showed that gender, household size and number of employees significantly affected the income of the entrepreneurs in the study area. Therefore, more female households should be encouraged into entrepreneurial businesses and government should give incentive cum conductive environment that could bridge the disparity in the income of the entrepreneurs in their various enterprises.

Keywords: entrepreneurs, Gini coefficient, income inequality, Lorenz curve

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Authors: Encarnación Álvarez, Rosa M. García-Fernández, Juan F. Muñoz

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Estimation of a proportion has many applications in economics and social studies. A common application is the estimation of the low income proportion, which gives the proportion of people classified as poor into a population. In this paper, we present this poverty indicator and propose to use the logistic regression estimator for the problem of estimating the low income proportion. Various sampling designs are presented. Assuming a real data set obtained from the European Survey on Income and Living Conditions, Monte Carlo simulation studies are carried out to analyze the empirical performance of the logistic regression estimator under the various sampling designs considered in this paper. Results derived from Monte Carlo simulation studies indicate that the logistic regression estimator can be more accurate than the customary estimator under the various sampling designs considered in this paper. The stratified sampling design can also provide more accurate results.

Keywords: poverty line, risk of poverty, auxiliary variable, ratio method

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Authors: Robertson Freeman

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The prime objective of this research is to examine income inequality and its effects on household livelihoods in Parker Paint. Many researchers failed to address the potential threat of income inequality on diverse household livelihood indicators, including health, food, housing, transport and many others. They examine and generalize the effects of income differentials on household livelihoods by addressing one indicator of livelihood security. This research fills the loopholes of previous research by examining the effects of income inequality and how it affects the livelihoods of households, taking into consideration livelihood indicators including health, food security, and transport. The researcher employed the mixed research method to analyze the distribution of income and solicit opinions of household heads on the effects of their monthly income on their livelihoods. Age and sex structure, household composition, type of employment and educational status influence income inequality. The level of income, Lorenz curve and the Gini coefficient was mutually employed to calculate and determine the level of income inequality. One hundred eighty-two representing 96% of household heads are employed while 8, representing 4%, are unemployed. However, out of a total number of 182 employed, representing 96%, 27 people representing 14%, are employed in the formal private sector, while 110, representing 58%, are employed in the private informal sector. Monthly average income, savings, investments and unexpected circumstances affect the livelihood of households. Infrastructural development and wellbeing should be pursued by reducing expenditure earmarked in other sectors and channeling the funds towards the provision of household needs. One of the potent tools for consolidating household livelihoods is to initiate livelihood empowerment programs. Government and private sector agencies should establish more health insurance schemes, providing mosquito nets, immunization services, public transport, as well as embarking on feeding programs, especially in the remote areas of Parker paint. To climax the research findings, self-employment, entrepreneurship and the general private sector employment is a transparent double-edged sword. If employed in the private sector, there is the likelihood to increase one’s income. However, this also induces the income gap between the rich and poor since many people are exploited by affluence, thereby relegating the poor from the wealth hierarchy. Age and sex structure, as well as type of employment, should not be overlooked since they all play fundamental roles in influencing income inequality. Savings and investments seem to play a positive role in reducing income inequality. However, savings and investment in this research affect livelihoods negatively. It behooves mankind to strive and work hard to the best of ability in earning sufficient income and embracing measures to retain his financial strength. In so doing, people will be able to provide basic household needs, celebrate the reduction in unemployment and dependence and finally ensure sustainable livelihoods.

Keywords: income, inequality, livelihood, pakerpaint

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Authors: Agim Kukelii, Gevorg Sargsyan

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This study, focusing on the base regional area (county level), estimates the effect of natural disaster damages on aggregate personal income, aggregate wages, wages per worker, aggregate employment, and aggregate income transfer. The study further estimates the dynamics of personal income, employment, and wages under natural disaster shocks. Southeast Texas, located at the center of Golf Coast, is hit by meteorological and hydrological caused natural disasters yearly. On average, there are more than four natural disasters per year that cane an estimated damage average of 2.2% of real personal income. The study uses the panel data method to estimate the average effect of natural disasters on the area’s economy (personal income, wages, employment, and income transfer). It also uses Panel Vector Autoregressive (PVAR) model to study the dynamics of macroeconomic variables under natural disaster shocks. The study finds that the average effect of natural disasters is positive for personal income and income transfer and is negative for wages and employment. The PVAR and the impulse response function estimates reveal that natural disaster shocks cause a decrease in personal income, employment, and wages. However, the economy’s variables bounce back after three years. The novelty of this study rests on several aspects. First, this is the first study to investigate the effects of natural disasters on macroeconomic variables at a regional level. Second, the study uses direct measures of natural disaster damages. Third, the study estimates that the time that the local economy takes to absorb the natural disaster damages shocks is three years. This is a relatively good reaction to the local economy, therefore, adding to the “resiliency” hypothesis. The study has several implications for policymakers, businesses, and households. First, this study serves to increase the awareness of local stakeholders that natural disaster damages do worsen, macroeconomic variables, such as personal income, employment, and wages beyond the immediate damages to residential and commercial properties, physical infrastructure, and discomfort in daily lives. Second, the study estimates that these effects linger on the economy on average for three years, which would require policymakers to factor in the time area need to be on focus.

Keywords: natural disaster damages, macroeconomics effects, PVAR, panel data

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Authors: Richard G. Carranza, Juan Ospina

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The fin efficiency for a helical fin with a fixed fin tip (or arbitrary) temperature boundary condition is presented. Firstly, the temperature profile throughout the fin is determined via an energy balance around the fin itself. Secondly, the fin efficiency is formulated by integrating across the entire surface of the helical fin. An analytical expression for the fin efficiency is presented and compared with the literature for accuracy.

Keywords: efficiency, fin, heat, helical, transfer

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Authors: Syaza Isma, Timothy Higgins

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

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

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Authors: Mohammad Rahim Rahnama

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Market-transaction price for housing is the main criteria for determining municipality taxes and is determined and announced on an annual basis. Of course, there is a discrepancy between the actual value of transactions in the Bureau of Finance (P for short) or municipality (P´ for short) and the real price on the market (P˝). The present research aims to determine the real price of housing in the metropolis of Mashhad and to pinpoint the price gap with those of the aforementioned apparatuses and identify the factors affecting it. In order to reach this practical objective, Automatic Linear Modeling, which calls for an explanatory research, was utilized. The population of the research consisted of all the residential units in Mashhad, from which 317 residential units were randomly selected. Through cluster sampling, out of the 170 income blocks defined by the municipality, three blocks form high-income (Kosar), middle-income (Elahieh), and low-income (Seyyedi) strata were surveyed using questionnaires during February and March of 2015 and the information regarding the price and specifications of residential units were gathered. In order to estimate the effect of various factors on the price, the relationship between independent variables (8 variables) and the dependent variable of the housing price was calculated using Automatic Linear Modeling in SPSS. The results revealed that the average for housing price index is 788$ per square meter, compared to the Bureau of Finance’s prices which is 10$ and that of municipality’s which is 378$. Correlation coefficient among dependent and independent variables was calculated to be R²=0.81. Out of the eight initial variables, three were omitted. The most influential factor affecting the housing prices is the quality of Quality of construction (Ordinary, Full, Luxury). The least important factor influencing the housing prices is the variable of number of sides. The price gap between low-income (Seyyedi) and middle-income (Elahieh) districts was not confirmed via One-Way ANOVA but their gap with the high-income district (Kosar) was confirmed. It is suggested that city be divided into two low-income and high-income sections, as opposed three, in terms of housing prices.

Keywords: automatic linear modeling, housing prices, Mashhad, Iran

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Authors: Radosław Pastusiak, Anna Kaźmierska, Magdalena Jasiniak

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The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: special economic zone, local finance, municipal finance, government

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Authors: Christina Tay

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This paper investigates the impact of Information and Communication Technology (ICT) on bilateral trade in goods. Empirical analysis is performed on the United States and 34 partnering countries from 2000 to 2013. Our econometric model fits the data well, explaining 52% of the variation in trade flows for goods trade, 53.2% of the variation in trade flows for goods export and 48% of the variation in trade flows for goods import. For every 10% increase in fixed broadband Internet subscribers per 100 people increases, goods trade by 7.9% and for every 5% increase in fixed broadband Internet subscribers per 100 people, goods export increases by 11%. For every 1% increase in fixed telephone line penetration per 100 people, goods trade increases by 26.3%, goods export increases by 24.4% and goods import increases by 24.8%. For every 1% increase in mobile-cellular telephone subscriptions, goods trade decreases by 29.6% and goods export decreases by 27.1%, whilst for every 0.01% increase in mobile-cellular telephone subscriptions, goods import decreases by 34.3%. For every 1% increase in the percentage of population who used the Internet from any location in the last 12 months Internet, goods trade increases by 32.5%, goods export increases by 38.9%, goods import increases by 33%. All our trade determinants as well as our ICT variables have significances on goods exports for the US. We can also draw from our study that the US relies more rather heavily on ICT for its goods export compared to goods import.

Keywords: bilateral trade, fixed broadband, fixed telephone, goods trade, information and communicative technologies, Internet, mobile-cellular phone

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Authors: Azlin Suzana Salim

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The 12th Malaysian Plan 2021-2025, issued by the Economic Planning Unit in 2021, outlined one of the six important priorities to support M40 towards equitable society. The Financial Sector Blueprint 2022-2026, released by Bank Negara Malaysia in 2022, further outlined the fifth key thrust focusing on Islamic Social Finance. The purpose of this research is to examine the Legal Framework of bridging Islamic Social Finance to support M40 Income Group in Malaysia. This study adopts a doctrinal legal research method to examine the laws and regulations governing Islamic Social Finance in Malaysia and a qualitative method to examine the Islamic Social Finance Instrument to support the M40 income group. The implication of this study is important to propose the legal framework and bridge the Islamic Social Finance instrument to support the M40 income group in Malaysia. The significance of this study is to realign between priorities of the 12th Malaysian Plan 2021-2025 and the Financial Sector Blueprint 2022-2026.

Keywords: legal framework, Islamic social finance, m40 income group, law and regulation

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Authors: Gaironeesa Hendricks, Shazly Savahl, Maria Florence

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The aim of the study is to determine whether peer pressure and leisure boredom influence substance use among adolescents in low-income communities in Cape Town. Non-probability sampling was used to select 296 adolescents between the ages of 16–18 from schools located in two low-income communities. The measurement tools included the Drug Use Disorders Identification Test, the Resistance to Peer Influence and Leisure Boredom Scales. Multiple regression revealed that the combined influence of peer pressure and leisure boredom predicted substance use, while peer pressure emerged as a stronger predictor than leisure boredom on substance use among adolescents.

Keywords: substance use, peer pressure, leisure boredom, adolescents, multiple regression

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Authors: Muhammad Umair Shahid, Abdul Rehman, Mudassir Mukhtar, Muhammad Nauman

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The smart antenna is the prominent technology that has become known in recent years to meet the growing demands of wireless communications. In an overcrowded atmosphere, its application is growing gradually. A methodical evaluation of the performance of Fixed Beamforming algorithms for smart antennas such as Multiple Sidelobe Canceller (MSC), Maximum Signal-to-interference ratio (MSIR) and minimum variance (MVDR) has been comprehensively presented in this paper. Simulation results show that beamforming is helpful in providing optimized response towards desired directions. MVDR beamformer provides the most optimal solution.

Keywords: fixed weight beamforming, array pattern, signal to interference ratio, power efficiency, element spacing, array elements, optimum weight vector

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Authors: Mohammad Farid

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In this paper, we introduce and study an explicit iterative method based on hybrid extragradient method to approximate a common solution of generalized mixed equilibrium problem and fixed point problem for a nonexpansive semigroup in Hilbert space. Further, we prove that the sequence generated by the proposed iterative scheme converge strongly to the common solution of generalized mixed equilibrium problem and fixed point problem for a nonexpansive semigroup. This common solution is the unique solution of a variational inequality problem and is the optimality condition for a minimization problem. The results presented in this paper are the supplement, extension and generalization of the previously known results in this area.

Keywords: generalized mixed equilibrium problem, fixed-point problem, nonexpansive semigroup, variational inequality problem, iterative algorithms, hybrid extragradient method

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Authors: Natalia Muratova, Dmitry Klimov, Rafail Isemin, Sergey Kuzmin, Aleksandr Mikhalev, Oleg Milovanov

Abstract:

We investigated the processing of poultry litter into biochar using dry torrefaction methods (DT) in a fixed and fluidized bed of quartz sand blown with nitrogen, as well as wet torrefaction (WT) in a fluidized bed in a medium of water steam at a temperature of 300 °C. Torrefaction technology affects the duration of the heat treatment process and the characteristics of the biochar: the process of separating CO₂, CO, H₂ and CH₄ from a portion of fresh poultry litter during torrefaction in a fixed bed is completed after 2400 seconds, but in a fluidized bed — after 480 seconds. During WT in a fluidized bed of quartz sand, this process ends in 840 seconds after loading a portion of fresh litter, but in a fluidized bed of litter particles previously subjected to torrefaction, the process ends in 350 - 450 seconds. In terms of the ratio between (H/C) and (O/C), the litter obtained after DT and WT treatment corresponds to lignite. WT in a fluidized bed allows one to obtain biochar, in which the specific pore area is two times larger than the specific pore area of biochar obtained after DT in a fluidized bed. Biochar, obtained as a result of the poultry litter treatment in a fluidized bed using DT or WT method, is recommended to be used not only as a biofuel but also as an adsorbent or the soil fertilizer.

Keywords: biochar, poultry litter, dry and wet torrefaction, fixed bed, fluidized bed

Procedia PDF Downloads 124

Authors: Yu-Jen Chang, Yun Chen, Hei-Lam Wong

Abstract:

The Economic Lot Scheduling Problem (ELSP) is a valuable mathematical model that can support decision-makers to make scheduling decisions. The basic period approach is effective for solving the ELSP. The assumption for applying the basic period approach is that a product must use its maximum production rate to be produced. However, a product can lower its production rate to reduce the average total cost when a facility has extra idle time. The past researches discussed how a product adjusts its production rate under the common cycle approach. To the best of our knowledge, no studies have addressed how a product lowers its production rate under the basic period approach. This research is the first paper to discuss this topic. The research develops a simple fixed rate approach that adjusts the production rate of a product under the basic period approach to solve the ELSP. Our numerical example shows our approach can find a better solution than the traditional basic period approach. Our mathematical model that applies the fixed rate approach under the basic period approach can serve as a reference for other related researches.

Keywords: economic lot, basic period, genetic algorithm, fixed rate

Procedia PDF Downloads 538