Search results for: historic investment

Authors: Tan Swee Liang

Abstract:

This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Panel-Corrected Standard Errors (PCSE) regression developed by Beck and Katz (1995). Data from five economies in ASEAN (Singapore, Malaysia, Thailand, Philippines, and Indonesia), five economies in Asia (Japan, China, Hong Kong SAR, South Korea, and India) and seven economies in OECD (Australia, Canada, Denmark, Norway, Sweden, United Kingdom U.K., and United States U.S.), between 1990 and 2017 are used. Empirical findings suggest one, for Asia-5 high bank net interest margin means greater bank profitability, hence spurring economic growth. Two, for OECD-7 low bank overhead costs (as a share of total assets) may reflect weak competition and weak investment in providing superior banking services, hence dampening economic growth. Three, stock market turnover ratio has negative association with OECD-7 economic growth, but a positive association with Asia-5, which suggest the relationship between liquidity and growth is ambiguous. Lastly, for ASEAN-5 high bank overhead costs (as a share of total assets) may suggest expenses have not been channelled efficiently to income generating activities. One practical implication of the findings is that policy makers should take necessary measures toward financial liberalisation policies that boost growth through the efficiency channel, so that funds are efficiently allocated through the financial system between financial and real sectors.

Keywords: financial development, banking system, capital markets, economic growth

Procedia PDF Downloads 110

Authors: Gulnaz Erkomaishvili

Abstract:

Introduction: The pandemic and the current economic crisis have created problems for entrepreneurship and, therefore for start-up entrepreneurs. The paper presents the challenges of start-up entrepreneurs in Georgia in the time of pandemic and the analysis of the state economic policy measures. Despite many problems, the study found that in 54.2% of start-ups surveyed under the pandemic, innovation opportunities were growing. It can be stated that the pandemic was a good opportunity to increase the innovative capacity of the enterprise. 52% of the surveyed start-up entrepreneurs managed to adapt to the current situation and increase the sale of their products/services through remote channels. As for the assessment of state support measures by start-up entrepreneurs, a large number of Georgian start-ups do not assess the measures implemented by the state positively. Methodology: The research process uses methods of analysis and synthesis, quantitative and qualitative, interview/survey, grouping, relative and average values, graphing, comparison, data analysis, and others. Main Findings: Studies have shown that for the start-up entrepreneurs, the main problem remains: inaccessible funding, workers' qualifications gap, inflation, taxes, regulation, political instability, inadequate provision of infrastructure, amount of taxes, and other factors. Conclusions: The state should take the following measures to support business start-ups: create an attractive environment for investment, availability of soft loans, creation of an insurance system, infrastructure development, increase the effectiveness of tax policy (simplicity of the tax system, clarity, optimal tax level ); promote export growth (develop strategy for opening up international markets, build up a broad marketing network, etc.).

Keywords: start-up entrepreneurs, startups, start-up entrepreneurs support programs, start-up entrepreneurs support economic policy

Procedia PDF Downloads 83

Authors: Aptullah Karakas, Murat Baydogan

Abstract:

Hot-dip aluminizing (HDA) is one of the several aluminizing methods to form a wear-, corrosion- and oxidation-resistant aluminide layers on the surface. In this method, the substrate is dipped into a molten aluminum bath, hold in the bath for several minutes, and cooled down to the room temperature in air. A subsequent annealing after the HDA process is generally performed. The main advantage of HDA is its very low investment cost in comparison with other aluminizing methods such as chemical vapor deposition (CVD), pack aluminizing and metalizing. In the HDA process, Al or Al-Si molten baths are mostly used. However, in this study, three different Al alloys such as Al4043 (Al-Mg), Al5356 (Al-Si) and Al7020 (Al-Zn) were used as the molten bath in order to see their effects on morphological and mechanical properties of the resulting aluminide layers. AISI 4140 low alloyed steel was used as the substrate. Parameters of the HDA process were bath composition, bath temperature, and dipping time. These parameters were considered within a Taguchi L9 orthogonal array. After the HDA process and subsequent diffusion annealing, coating thickness measurement, microstructural analysis and hardness measurement of the aluminide layers were conducted. The optimum process parameters were evaluated according to coating morphology, such as cracks, Kirkendall porosity and hardness of the coatings. According to the results, smooth and clean aluminide layer with less Kirkendall porosity and cracks were observed on the sample, which was aluminized in the molten Al7020 bath at 700 C for 10 minutes and subsequently diffusion annealed at 750 C. Hardness of the aluminide layer was in between 1100-1300 HV and the coating thickness was approximately 400 µm. The results were promising such that a hard and thick aluminide layer with less Kirkendall porosity and cracks could be formed. It is, therefore, concluded that Al7020 bath may be used in the HDA process of AISI 4140 steel substrate.

Keywords: hot-dip aluminizing, microstructure, hardness measurement, diffusion annealing

Procedia PDF Downloads 40

Authors: Sara Sallam, Mohamed Taqi, Naoual Belouaggadia

Abstract:

Solar thermal power plants using parabolic trough collectors (PTC) are currently a powerful technology for generating electricity. Most of these solar power plants use thermal oils as heat transfer fluid. The latter is heated in the solar field and transfers the heat absorbed in an oil-water heat exchanger for the production of steam driving the turbines of the power plant. Currently, we are seeking to develop PTCs with direct steam generation (DSG). This process consists of circulating water under pressure in the receiver tube to generate steam directly into the solar loop. This makes it possible to reduce the investment and maintenance costs of the PTCs (the oil-water exchangers are removed) and to avoid the environmental risks associated with the use of thermal oils. The pressure drops in these systems are an important parameter to ensure their proper operation. The determination of these losses is complex because of the presence of the two phases, and most often we limit ourselves to describing them by models using empirical correlations. A comparison of these models with experimental data was performed. Our calculations focused on the evolution of the pressure of the liquid-vapor mixture along the receiver tube of a PTC-DSG for pressure values and inlet flow rates ranging respectively from 3 to 10 MPa, and from 0.4 to 0.6 kg/s. The comparison of the numerical results with experience allows us to demonstrate the validity of some models according to the pressures and the flow rates of entry in the PTC-DSG receiver tube. The analysis of these two parameters’ effects on the evolution of the pressure along the receiving tub, shows that the increase of the inlet pressure and the decrease of the flow rate lead to minimal pressure losses.

Keywords: direct steam generation, parabolic trough collectors, Ppressure drop, empirical models

Procedia PDF Downloads 112

Authors: Scott Rawlings

Abstract:

Victoria’s first State of the Bays report is an historic baseline study of the health of Port Phillip Bay and Western Port. The report includes 50 assessments of 36 indicators across a broad array of topics from the nitrogen cycle and water quality to key marine species and habitats. This paper discusses the processes for determining and assessing the indicators and comments on future priorities identified to maintain and improve the health of these water ways. Victoria’s population is now at six million, and growing at a rate of over 100,000 people per year - the highest increase in Australia – and the population of greater Melbourne is over four million. Port Phillip Bay and Western Port are vital marine assets at the centre of this growth and will require adaptive strategies if they are to remain in good condition and continue to deliver environmental, economic and social benefits. In 2014, it was in recognition of these pressures that the incoming Victorian Government committed to reporting on the state of the bays every five years. The inaugural State of the Bays report was issued by the independent Victorian Commissioner for Environmental Sustainability. The report brought together what is known about both bays, based on existing research. It was a baseline on which future reports will build and, over time, include more of Victoria’s marine environment. Port Phillip Bay and Western Port generally demonstrate healthy systems. Specific threats linked to population growth are a significant pressure. Impacts are more significant where human activity is more intense and where nutrients are transported to the bays around the mouths of creeks and drainage systems. The transport of high loads of nutrients and pollutants to the bays from peak rainfall events is likely to increase with climate change – as will sea level rise. Marine pests are also a threat. More than 100 introduced marine species have become established in Port Phillip Bay and can compete with native species, alter habitat, reduce important fish stocks and potentially disrupt nitrogen cycling processes. This study confirmed that our data collection regime is better within the Marine Protected Areas of Port Phillip Bay than in other parts. The State of the Bays report is a positive and practical example of what can be achieved through collaboration and cooperation between environmental reporters, Government agencies, academic institutions, data custodians, and NGOs. The State of the Bays 2016 provides an important foundation by identifying knowledge gaps and research priorities for future studies and reports on the bays. It builds a strong evidence base to effectively manage the bays and support an adaptive management framework. The Report proposes a set of indicators for future reporting that will support a step-change in our approach to monitoring and managing the bays – a shift from reporting only on what we do know, to reporting on what we need to know.

Keywords: coastal science, marine science, Port Phillip Bay, state of the environment, Western Port

Procedia PDF Downloads 178

Authors: Dato Surmanidze, Dato Antadze, Tornike Partenadze

Abstract:

Public online services in Georgia are concentrated on main target segments: public administration, business, population, non-governmental and other interested organizations. Therefore, the strategy of digital Georgia is focused on providing G2C, G2B/B2G, G2NGO and G2G services. In G2C framework sophisticated and high-technological online services have been developed in order to provide passports, identity cards, documentations concerning residence and civil acts (birth, marriage, divorce, child adoption, change of name and surname, death, etc) as well as other services. Websites like my.gov.ge and sda.gov.ge have distance services like electronic application, processing and decision making. In line with international standards automatic services like electronic tenders, product catalogues, invoices and payment have been developed. This creates better investment climate for foreign companies in Georgia in the framework of G2B politics. The website mybusiness.gov.ge creates better conditions for local business. Among electronic services is e-NRMS (electronic system for national resource management) which was introduced by the Ministry of Finance of Georgia. The system was created in order to ensure management of national resources by state and business organizations. It is integrated with bank services and provides G2C, G2B and B2G representatives with electronic services. Also a portal meteo.gov.ge was created which gives electronic services concerning air, geological, environmental and pollution issues. Also worknet.gov.ge should be mentioned which is an electronic hub of information management for employers and employees. The information portal of labor market will facilitate receipt of information, its analysis and delivery to interested people like employers and employees. However, nowadays it’s been two years that only employees portal is activated. Therefore, awareness about the portal, its competitiveness and success is undermined.

Keywords: electronic services, public administration, information technology, information society

Procedia PDF Downloads 237

Authors: Nik Kamariah Nikmat, Noor Hasmini Abdghani

Abstract:

The Malaysian government had consistently revived its campaign for “Buy Malaysian Goods” from time to time. The purpose of the campaign is to remind consumers to be ethnocentric and patriotic when purchasing product and services. This is necessary to ensure high demand for local products and services compared to foreign products. However, the decline of domestic investment in 2012 has triggered concern for the Malaysian economy. Hence, this study attempts to determine the drivers of actual purchasing behavior, intention to purchase domestic products and ethnocentrism. The study employs the cross-sectional primary data, self-administered on household, selected using stratified random sampling in four Malaysian regions. A nine factor driver of actual domestic purchasing behavior (culture openness, conservatism, collectivism, patriotism, control belief, interest in foreign travel, attitude, ethnocentrism and intention) were measured utilizing 60 items, using 7-point Likert-scale. From 1000 questionnaires distributed, a sample of 486 were returned representing 48.6 percent response rate. From the fit generated structural model (SEM analysis), it was found that the drivers of actual purchase behavior are collectivism, cultural openness and patriotism; the drivers of intention to purchase domestic product are attitude, control belief, collectivism and conservativeness; and drivers of ethnocentrism are cultural openness, control belief, foreign travel and patriotism. It also shows that Malaysian consumers scored high in ethnocentrism and patriotism. The findings are discussed in the perspective of its implication to Malaysian National Agenda.

Keywords: actual purchase, ethnocentrism, patriotism, culture openness, conservatism

Procedia PDF Downloads 281

Authors: Rameesha Javaid

Abstract:

Agriculture is the backbone of the economy of the province of Balochistan which is known as the ‘fruit basket’ of Pakistan. Its climate zones comprising highlands and plateaus, dependent on rain water, are more suited for the production of deciduous fruit. The vagaries of weather and more so the persistent droughts prompted the government to announce flat rates of electricity bills per month irrespective of the size of the farm, quantum or water used and the category of crop group. That has, no doubt, resulted in increased cropping intensity, more production and employment but has enormously burdened the official exchequer which picks up the residual bills in certain percentages amongst the federal and provincial governments and the local electricity company. This study tests the desirability of continuing the subsidy in the present mode. Optimization of social welfare of farmers has been the focus of the study with emphasis on the contribution of positive externalities and distortions caused in terms of negative externalities. By using the optimization technique with due allowance for distortions, it has been established that the subsidy calls for limiting policy distortions as they cause sub-optimal utilization of the tube well subsidy and improved policy programming. The sensitivity analysis with changed rankings of contributing variables towards social welfare does not significantly change the result. Therefore it leads to the net findings and policy recommendations of significantly reducing the subsidy size, correcting and curtailing policy distortions and targeting the subsidy grant more towards small farmers to generate more welfare by saving a sizeable amount from the subsidy for investment in the wellbeing of the farmers in rural Balochistan.

Keywords: distortion, policy distortion, socio-cultural distortion, social welfare, subsidy

Procedia PDF Downloads 253

Authors: Raymond Ndhlovu, Jen Snowball

Abstract:

It has long been known that the Cultural and Creative Industries (CCIs) have the potential to aid in physical, social and economic renewal and regeneration of towns and cities, hence their importance when dealing with regional development. The CCIs can act as a catalyst for activity and investment in an area because the ‘consumption’ of cultural activities will lead to the activities and use of other non-cultural activities, for example, hospitality development including restaurants and bars, as well as public transport. ‘Consumption’ of cultural activities also leads to employment creation, and diversification. However, CCIs tend to be clustered, especially around large cities. There is, moreover, a case for development of CCIs around smaller towns and cities, because they do not rely on high technology inputs, and long supply chains, and, their direct link to rural and isolated places makes them vital in regional development. However, there is currently little research on how to craft cultural policy for regions with smaller towns and cities. Using the Sarah Baartman District (SBDM) in South Africa as an example, this paper describes the process of developing cultural policy for a region that has potential, and existing, cultural clusters, but currently no one, coherent policy relating to CCI development. The SBDM was chosen as a case study because it has no large cities, but has some CCI clusters, and has identified them as potential drivers of local economic development. The process of developing cultural policy is discussed in stages: Identification of what resources are present; including human resources, soft and hard infrastructure; Identification of clusters; Analysis of CCI labour markets and ownership patterns; Opportunities and challenges from the point of view of CCIs and other key stakeholders; Alignment of regional policy aims with provincial and national policy objectives; and finally, design and implementation of a regional cultural policy.

Keywords: cultural and creative industries, economic impact, intrinsic value, regional development

Procedia PDF Downloads 202

Authors: Pascal Rey, Anaïs Weber

Abstract:

Many mining projects are being developed in Africa the last decades. Due to the economic opportunities they offer, these projects result in a massive and rapid influx of migrants to the surrounding area. In areas where central government representation is low and local administration lack financial resources, urban development is often anarchical, beyond all public control. It leads to socio-spatial segregation, insecurity and the risk of social conflicts rising. Aware that their economic development is very correlated with local situation, mining companies get more and more involved in regional planning in setting up tools and Strategic Directions document. One of the commonly used tools in this regard is the “Influx Management Plan”. It consists in looking at the region’s absorption capacities in order to ensure its coherent development and by developing several urban centers than one macrocephalic city. It includes many other measures such as urban governance support, skills transfer, creation of strategic guidelines, financial support (local taxes, mining taxes, development funds etc.) local development projects. Through various examples of mining projects in Guinea, A country that is host to many large mining projects, we will look at the implications of regional and urban planning of which mining companies are key playor as well as public authorities. While their investment capacity offers advantages and accelerates development, their actions raise questions of the unilaterality of interests and local governance. By interfering in public affairs are mining companies not increasing the risk of central and local government shirking their responsibilities in terms of regional development, or even calling their legitimacy into question? Is such public-private collaboration really sustainable for the region as a whole and for all stakeholders?

Keywords: Africa, guinea, mine, urban planning

Procedia PDF Downloads 461

Authors: Thepnarintra Praphanphat

Abstract:

The purposes of this study were to investigate garment industry’s condition, problems, and need for assistance. The population of the study was 504 managers or managing directors of garment establishments finished apparel industrial manager and permission of the Department of Industrial Works 28, Ministry of Industry until January 1, 2012. In determining the sample size with the opening of the Taro Yamane finished at 95% confidence level is ± 5% deviation was 224 managers. Questionnaires were used to collect the data. Percentage, frequency, arithmetic mean, standard deviation, t-test, ANOVA, and LSD were used to analyze the data. It was found that most establishments were of a large size, operated in a form of limited company for more than 15 years most of which produced garments for working women. All investment was made by Thai people. The products were made to order and distributed domestically and internationally. The total sale of the year 2010, 2011, and 2012 was almost the same. With respect to the problems of operating the business, the study indicated, as a whole, by- aspects, and by-items, that they were at a high level. The comparison of the level of problems of operating garment business as classified by general condition showed that problems occurring in business of different sizes were, as a whole, not different. In taking aspects into consideration, it was found that the level of problem in relation to production was different; medium establishments had more problems in production than those of small and large sizes. According to the by-items analysis, five problems were found different; namely, problems concerning employees, machine maintenance, number of designers, and price competition. Such problems in the medium establishments were at a higher level than those in the small and large establishments. Regarding business age, the examination yielded no differences as a whole, by-aspects, and by-items. The statistical significance level of this study was set at .05.

Keywords: garment industry, garment, fashion, competitive enhancement project

Procedia PDF Downloads 164

Authors: Dane B. Norris

Abstract:

This paper offers a reflective and reflexive examination of the lived reality of a group of young white, working-class males engaging in secondary education in England at a time when this population is widely recognised as the lowest attaining ethnic group within British schools. The focus of the paper is an exploration of the development of identities and aspirations alongside contemporary demographic shifts in the British population within the intersection of neoliberal education policies and the emerging ideological conflict between identity conservatism and liberalism. The construction and performance of intersecting social-class, gender, ethnic and national identities are considered, as well as the process through which socially constructed narratives inform identities and aspirations. Evocative autoethnography is then employed to offer reflections on working-class habitus and, in particular, classed and gendered codes that underpin expectations of manhood in post-industrial culture within an education system which seemingly requires the abandonment of aspects of a working-class background, affiliation, and identity. Findings from the study identify the emergence of a culture of hyper-individualisation amongst white, working-class males in schools and a belief in the meritocratic ideologies of the New Right. In particular, the breakdown of the social contract, including notions of political and civic responsibility, coupled with the symbolic violence perpetrated against working-class culture and solidarity in British schools, have all informed the construction of working-class masculinity which values the individual entrepreneur over the collective and depoliticizes students to an extent where a focus on the spectacle and performance of success has replaced individual and collective investment in community.

Keywords: education, identity, masculinity, neoliberalism, working-class

Procedia PDF Downloads 77

Authors: Pia Kastl

Abstract:

By combining face-to-face sessions with digital selflearning units, the learning process can be enhanced and learning success improved. Potentials of blended learning are the flexibility and possibility to get in touch with lecturers and fellow students face-toface. It also offers the opportunity to individualize and self-regulate the learning process. Aim of this article is to analyse how different learning environments affect students’ learning behavior and how digital tools can be used effectively. The analysis also considers the extent to which the field of study affects the students’ preferences. Semi-structured interviews were conducted with students from different disciplines at two German universities (N= 60). The questions addressed satisfaction and perception of online, faceto-face and blended learning courses. In addition, suggestions for improving learning experience and the use of digital tools in the different learning environments were surveyed. The results show that being present on campus has a positive impact on learning success and online teaching facilitates flexible learning. Blended learning can combine the respective benefits, although one challenge is to keep the time investment within reasonable limits. The use of digital tools differs depending on the subject. Medical students are willing to use digital tools to improve their learning success and voluntarily invest more time. Students of the humanities and social sciences, on the other hand, are reluctant to invest additional time. They do not see extra study material as an additional benefit their learning success. This study illustrates how these heterogenous demands on learning environments can be met. In addition, potential for improvement will be identified in order to foster both learning process and learning success. Learning environments can be meaningfully enriched with digital elements to address student diversity in higher education.

Keywords: blended learning, higher education, diversity, learning styles

Procedia PDF Downloads 37

Authors: Lata Shakya, Toshio Otsuki, Saori Imoto, Bijaya Krishna Shrestha, Umesh Bahadur Malla

Abstract:

2015 Gorkha Nepal earthquake have damaged the human settlements in 14 districts of Nepal. Historic core areas of three principal cities namely Kathmandu, Lalitpur and Bhaktapur including numerous traditional ‘newari’ settlements in the peripheral areas have been either collapsed or severely damaged. Despite Government of Nepal and (international) non-government organisations’ attempt towards disaster risk management through the preparation of policies and guidelines and implementation of community-based activities, the recent ‘Gorkha’ earthquake has demonstrated the inadequate preparedness, poor implementation of a legal instrument, resource constraints, and managerial weakness. However, the social capital through community based institutions, self-help attitude, and community bond has helped a lot not only in rescue and relief operation but also in a post-disaster temporary shelter living thereby exhibiting the resilient power of the local community. Conducting a detailed case study of ‘Kaminani’ community with 42 houses at ward no. 16 of Bhaktapur municipality, this paper analyses the local community’s response and activities on the Gorkha earthquake in rescue and relief operation as well as in post disaster work. Leadership, the existence of internal/external aid, physical and human support are also analyzed. Social resource and networking are also explained through critical review of the existing community organisation and their activities. The research methodology includes literature review, field survey, and interview with community leaders and residents based on a semi-structured questionnaire. The study reveals that community carried their recovery process in four different phases: (i) management of emergency evacuation, (ii) constructing community owed temporary shelter for individuals, (iii) demolishing upper floors of the damaged houses, and (iv) planning for collaborative housing reconstruction. As territorial based organization, religion based agency and aim based institution exist in the survey area from pre-disaster time, it can be assumed that the community activists including leaders are well experienced to create aim-based group and manage teamwork to deal with various issues and problems collaboratively. Physical and human support including partial financial aid from external source as a result of community leader’s personal networking is extended to the community members. Thus, human/social resource and personal/social network play a crucial role in the recovery process. And to build such social capital, community should have potential from pre-disaster time.

Keywords: Gorkha Nepal earthquake, local community, recovery process, social resource, social network

Procedia PDF Downloads 224

Authors: C. F. Jones Couto

Abstract:

The implementation of quality Physical Education (PE) inspires and instils lasting healthy behavioural patterns, hence have the potential as an educational tool to teach values in today’s society. The goal of PE should be to contribute to the acceptance of the infinite qualities of South Africa’s (RSA) diversity and to claim RSA’s diversity as a source of strength that forms a universal bond of a common set of values. There is a global change in the interaction of children with their environment; their lives are shaped by forces that do not necessarily assist them in learning and applying values. In most countries today, the responsibility for developing values is assigned to schools in formal teaching settings. Values-based education offers an investment in individual and societal improvement through attendance to a values framework. The aim of this qualitative research is to develop a PE programme aligned with the current South African curriculum, enriched with values of Olympism and Ubuntuism, and to present PE teacher training workshops (TTW). Participatory action research will be used as the basis of how data will be collected, analysed, and presented on an ongoing, cyclical basis. PE teachers from different schools in the Tshwane District of RSA will participate as they can best inform the research questions and enhance the understanding of the phenomenon under study. The outcomes of using PE as a tool to teach values can propose recommendations to the Department of Basic Education of RSA to improve and implement a quality PE curriculum that is applicable to practice and that will optimize the chances of meeting the South African National Curriculum Statement standards. A PE programme with the aim of holistic development, based on the values of Olympism and Ubuntuism, can strive to ensure that the values set out in RSA’s constitution are part of PE organization, planning, and teaching at each South African school.

Keywords: olympism, physical education, teacher training, ubuntuism, values-based education

Procedia PDF Downloads 72

Authors: Matthias Haerri, Tobias Huettche, Clemens Kustner

Abstract:

This article discusses the impact of digitization on business valuation. In order to become and remain ‘digital’, investments are necessary whose return on investment (ROI) often remains vague. This uncertainty is contradictory for a valuation, that rely on predictable cash flows, fixed capital structures and the steady state. However digitisation does not make a company valuation impossible, but traditional approaches must be reconsidered. The authors identify four areas that are to be changing: (1) Tools instead of intuition - In the future, company valuation will neither be art nor science, but craft. This does not require intuition, but experience and good tools. Digital evaluation tools beyond Excel will therefore gain in importance. (2) Real-time instead of deadline - At present, company valuations are always carried out on a case-by-case basis and on a specific key date. This will change with the digitalization and the introduction of web-based valuation tools. Company valuations can thus not only be carried out faster and more efficiently, but can also be offered more frequently. Instead of calculating the value for a previous key date, current and real-time valuations can be carried out. (3) Predictive planning instead of analysis of the past - Past data will also be needed in the future, but its use will not be limited to monovalent time series or key figure analyses. With pictures of ‘black swans’ and the ‘turkey illusion’ it was made clear to us that we build forecasts on too few data points of the past and underestimate the power of chance. Predictive planning can help here. (4) Convergence instead of residual value - Digital transformation shortens the lifespan of viable business models. If companies want to live forever, they have to change forever. For the company valuation, this means that the business model valid on the valuation date only has a limited service life.

Keywords: business valuation, corporate finance, digitisation, disruption

Procedia PDF Downloads 98

Authors: Auntika Thipjumnong

Abstract:

This research study aimed to investigate the production process and the market target of Kraseasin’s woven cloth including the customers’ behaviors towards the local woven products. The suggestions of a better process of production were recommended in this study. This survey research was conducted by using a questionnaire and interview, which were considered as the practical instruments to collect the data. The 200 Kraseasin’s woven makers and consumers were subjects by using a purposive sampling. Percentages, means and standard deviation were used to analyze data. The findings revealed that only 22 local woven members owned their 18 manual weavers in producing the raw materials like cotton or fiber. The main products were flowery woven cloth e.g. pikul, puangchompoo, pakakrong and ban mai roo roiy, and the others were rainy, glass wall, dice glass ball and yok dok etc. At the present, all local woven products were applied to be modernized but the strong point of those products were keeping the quality standard and firming textures, not thickness. The main objective of producing these local woven products was to earn and increase their extra incomes. Moreover, there were two dominant sales: Firstly, the makers sold their own products by themselves in their community and malls; and secondly, they would weave their products by customers’ orders. The prices’ allocation was on the difficulties in producing process. The government officials and non-government officials in local were normally customers. However the drawback of producing this local product was lack of raw material and this brought about the higher investment. The community’s customers were now lacking of interest in wearing these local products, even though they maintained their quality standard. The factors in customers’ purchasing decision were product (M = 3.93), price (M = 3.74), distribution (M = 3.73) and promotion (M = 3.97) for marketing mix well-known. Suggestion was a designing pattern of products had to be matched to the customers’ needs.

Keywords: marketing, consumer behavior, cloth products weaves, Songkhla Thailand

Procedia PDF Downloads 259

Authors: Masoud Ghahvechi Pour

Abstract:

Risk management is a systematic and regular process of identifying, analyzing and responding to risks throughout the project's life cycle in order to achieve the optimal level of elimination, reduction or control of risk. The purpose of project risk management is to increase the probability and effect of positive events and reduce the probability and effect of unpleasant events on the project. Risk management is one of the most fundamental parts of project management, so that unmanaged or untransmitted risks can be one of the primary factors of failure in a project. Effective risk management does not apply to risk regression, which is apparently the cheapest option of the activity. However, the main problem with this option is the economic sensitivity, because what is potentially profitable is by definition risky, and what does not pose a risk is economically interesting and does not bring tangible benefits. Therefore, in relation to the implemented project, effective risk management is finding a "middle ground" in its management, which includes, on the one hand, protection against risk from a negative direction by means of accurate identification and classification of risk, which leads to analysis And it becomes a comprehensive analysis. On the other hand, management using all mathematical and analytical tools should be based on checking the maximum benefits of these decisions. Detailed analysis, taking into account all aspects of the company, including stakeholder analysis, will allow us to add what will become tangible benefits for our project in the future to effective risk management. Identifying the risk of the project is based on the theory that which type of risk may affect the project, and also refers to specific parameters and estimating the probability of their occurrence in the project. These conditions can be divided into three groups: certainty, uncertainty, and risk, which in turn support three types of investment: risk preference, risk neutrality, specific risk deviation, and its measurement. The result of risk identification and project analysis is a list of events that indicate the cause and probability of an event, and a final assessment of its impact on the environment.

Keywords: risk, management, knowledge, risk management

Procedia PDF Downloads 25

Authors: S. Shakibaei, P. Alpkokin

Abstract:

The railway network is one of the major components of a transportation system in a country which may be an indicator of the country’s level of economic improvement. Since 2000s on, revival of national railways and development of High Speed Rail (HSR) lines are one of the most remarkable policies of Turkish government in railway sector. Within this trend, the railway age is to be revived and coming decades will be a golden opportunity. Indubitably, major infrastructures such as road and railway networks require sizeable investment capital, precise maintenance and reparation. Traditionally, governments are held responsible for funding, operating and maintaining these infrastructures. However, lack or shortage of financial resources, risk responsibilities (particularly cost and time overrun), and in some cases inefficacy in constructional, operational and management phases persuade governments to find alternative options. Financial power, efficient experiences and background of private sector are the factors convincing the governments to make a collaboration with private parties to develop infrastructures. Public-Private Partnerships (PPP or 3P or P3) and related regulatory issues are born considering these collaborations. In Turkey, PPP approaches have attracted attention particularly during last decade and these types of investments have been accelerated by government to overcome budget limitations and cope with inefficacy of public sector in improving transportation network and its operation. This study mainly tends to present a comprehensive overview of PPP concept, evaluate the regulatory procedure in Europe and propose a general framework for Turkish State Railways (TCDD) as an outlook on privatization, liberalization and deregulation of railway network.

Keywords: deregulation, high-speed railway, liberalization, privatization, public-private partnership

Procedia PDF Downloads 140

Authors: Nada Azhar

Abstract:

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

Procedia PDF Downloads 228

Authors: Bishal Saha, Musah Ahmed Rufai Muhyedeen, Jubeyer Hossain Joy, Muhammad Muhitur Rahman, Mohammad Shahedur Rahman, Md Arif Hasan, Syed Masiur Rahman

Abstract:

Greenhouse gas (GHG) emission is one of the critical problems of today’s world. Many countries have been taking many short- and long-term plans to reduce climate change mitigation. However, the potential of behavioral changes in addressing this problem is promising, as reported by many researchers. This paper presents a comprehensive literature review that focuses on ways to influence people’s behavior in their homes, workplace, and transportation to mitigate the emission directly or indirectly. This study will investigate different theories pertinent to planned behavior and the key elements for modifying behavior like biophilia, reinforcement to use optimum energy and recyclable products, proper application of greenhouse tax, modern technology, and sustainable design adaptation, transportation sharing, social and community norms, proper education and information, and financial incentives. There is a number of challenges associated with behavioral changes. Behavioral interventions have different actions varied by their type and need to combine various policy tools and great social marketing. Many interventions can reduce GHG emissions without any compromise with household well-being. This study will develop a landscape of prevailing theories of environmental psychology by identifying and reviewing the key themes and findings of this field of study. It will support especially the developing countries to reduce GHG emissions without significant capital investment. It is also expected that the behavioral changes will lead to the successful adoption of climate-friendly policies easily. This study will also generate new research questions and directions.

Keywords: behavioral changes, climate change mitigation, environmental psychology, greenhouse gas emission

Procedia PDF Downloads 185

Authors: Selman Cagman

Abstract:

A detailed analysis is made within an organized industrial zone (OIZ) that has 1165 production facilities such as manufacturing of furniture, fabricated metal products (machinery and equipment), food products, plastic and rubber products, machinery and equipment, non-metallic mineral products, electrical equipment, textile products, and manufacture of wood and cork products. In this OIZ, a field study is done by choosing some facilities that can represent the whole OIZ sectoral distribution. In this manner, there are 207 facilities included to the site visit, and there is a 17 questioned survey carried out with each of them to assess their inputs, outputs, and waste amounts during manufacturing processes. The survey result identify that MDF/Particleboard and chipboard particles, textile, food, foam rubber, sludge (treatment sludge, phosphate-paint sludge, etc.), plastic, paper and packaging, scrap metal (aluminum shavings, steel shavings, iron scrap, profile scrap, etc.), slag (coal slag), ceramic fracture, ash from the fluidized bed are the wastes come from these facilities. As a result, there are 5 industrial symbiosis projects established with this study. One of the projects is a 2.840 kW capacity Integrated Biomass Based Waste Incineration-Energy Production Facility running on 35.000 tons/year of MDF particles and chipboard waste. Another project is a biogas plant with 225 tons/year whey, 100 tons/year of sesame husk, 40 tons/year of burnt wafer dough, and 2.000 tons/year biscuit waste. These two plants investment costs and operational costs are given in detail. The payback time of the 2.840 kW plant is almost 4 years and the biogas plant is around 6 years.

Keywords: industrial symbiosis, energy, biogas, waste to incineration

Procedia PDF Downloads 77

Authors: Enayatollah Yazdani

Abstract:

Globalization is the most significant change in today’s world. It has caused remarkable growth in different aspects of human life. Such a strong contribution to the development would not have occurred without the role that each country and particularly great powers play in the globalization process. Among those powers is China, whose role in the globalization trend is growing fast. With its rapid economic and technological development, China has moved from a regional economic power to a global powerhouse. Accordingly, China has been supporting the development of global infrastructure through new initiatives and institutions such as the Asia Infrastructure Investment Bank and the New Development Bank, among them, the most ambitious manifestation of these efforts is China Belt and Road Initiative (BRI). BRI is seen as an important vehicle that helps China to play a more proactive role in the globalization process. China started Belt and Road initiative as a global drive in more than 65 (now more than 140) countries in Asia, the Middle East, Central Asia, Latin America, Africa, and Europe, offering the world a unique state of bigger openness, integration, and interdependence with a comprehensive approach to shared development, shared future, and shared opportunities. As a result, one can say that BRI is an attempt by China to promote international cooperation and enhance globalization. However, in this regard, China may face some challenges as well. This paper aims to address: how China is playing a role in globalization through BRI and how BRI will support the Chinese role in the globalization process. And what are the major challenges that China might be faced? Based on the analytical methodology, the paper argues that BRI is a cornucopia of international projects that offer mammoth opportunities for more economic cooperation and deeper regional and global integration, primarily among emerging economies. The paper discusses that at a time when globalization from the West appears to be in retreat, the BRI is a potent symbol of the rise of China-based globalization.

Keywords: globalization, China, belt, and road initiative

Procedia PDF Downloads 66

Authors: Wichai Srisud, Shunnawat Pungbangkradee, Sukanya Chaemchoy

Abstract:

This research study aims to analyze and assess school management guidelines designed to enhance the level of Student School Engagement of students at Bangkok Christian College, according to three following primary objectives: 1) to evaluate the level of Student School Engagement among Bangkok Christian College students, 2) to examine the Priority Needs Index of school management for promoting an optimum level of Student School Engagement among Bangkok Christian College students, and 3) to develop additional guidelines for school management to further enhance the level of Student School Engagement of Bangkok Christian College students. The research was conducted using Explanatory Design research methodology, with data obtained from a sample comprised of 291 students and 6 administrative personnel. The research findings indicated that: 1) The overall level of Student School Engagement was high. Emotional engagement averaged at the highest level, followed by Behavioral Engagement and Cognitive Engagement, respectively. 2) The Priority Needs Index of school management for promoting Student School Engagement of Bangkok Christian College students was examined, revealing that Evaluation averaged at the highest PNI level, followed by Planning and Implementation, respectively. 3) Guidelines for school management to enhance Student School Engagement of Bangkok Christian College students should consist of four approaches: 3.1) A Cognitive Engagement Enhancing Approach, which must include (1) fostering students’ problem-solving flexibility, and their ability to devise solutions for overcoming potential challenges, and (2) encouraging students to deal effectively with academic setbacks, rather than becoming overwhelmed by what they may perceive as failures, 3.2) An Emotional Engagement Enhancing Approach, cultivating students’ interests, aspirations and goals in learning to maximize emotional investment in their academic pursuits, and 3.3) A Behavioral Engagement Enhancing Approach, for elevating students’ focus and attentiveness during learning, and improving their ability to avoid distractions during study time.

Keywords: school engagement, guidelines for school management

Procedia PDF Downloads 24

Authors: Luan Vardari, Dena Arapi-Vardari

Abstract:

Financial stability is a critical component of economic growth and development, and it has been recognized as a key policy objective in many countries around the world. In the Western Balkans, financial stability has been a key issue in recent years, with a number of challenges facing the region, including high levels of public debt, weak banking systems, and economic volatility. Corporate finance, which refers to the financial management practices of firms, is an important factor that can impact financial stability. This paper aims to investigate corporate finance's impact on financial stability in Western Balkan countries. This study will use a mixed-methods approach to investigate the impact of corporate finance on financial stability in the Western Balkans. The study will begin with a comprehensive review of the existing literature on corporate finance and financial stability, focusing on the Western Balkan region. This will be followed by an empirical analysis of regional corporate finance practices using data from various industries and firms. The analysis will explore the relationship between corporate finance practices and financial stability, taking into account factors such as regulatory frameworks, economic conditions, and firm size. The results of the study are expected to provide insights into the impact of corporate finance on financial stability in the Western Balkans. Specifically, the study will identify the key corporate finance practices that contribute to financial stability in the region, as well as the challenges and obstacles that firms face in implementing effective corporate finance strategies. The study will also provide recommendations for policymakers and firms looking to enhance financial stability and resilience in the region.

Keywords: financial regulation, debt management, investment decisions, dividend policies, economic volatility, banking systems, public debt, prudent financial management, firm size, policy recommendations

Procedia PDF Downloads 36

Authors: Clesse C., Lighezzolo-Alnot J., De Lavergne S.

Abstract:

Considered as the most common surgical procedure worldwide, episiotomy can be defined as an incision around the vulva performed to enlarge it, in the aim of preventing the traumatic rupture of the perineum during childbirth. Rather mediatized, this practice raises many questions in the field of mental health, relayed by different users and health professionals. Today, is topicality is moderately hectic since many queries about the prophylactic exercise of episiotomy are subject to a relative consensus, particularly since WHO advocated in 1996 that only 10% of childbirths should involve an episiotomy. This indicator appeared after the publication of numerous results from randomized clinical trials. Unfortunately, these papers seem mostly centered about somatic impacts of episiotomy. From the side of psychological studies, they mostly integrate a major clinical methodological bias, especially considering that every primiparous woman is identical to the others face to the experience of parturition. In the aim to fill this lack of knowledge, we developed a longitudinal research starting in the 7th month of pregnancy and ending one year after delivery. We are studying in a comparative way different possible psychological consequences inherent to the use of episiotomy. To do this, we use a standardized methodology which combines semi-structured clinical interviews (IRMAG, IRMAN ...), free clinical interviews, a projective test (Rorschach) and five questionnaires (QIC, EPDS, CPQ WOMBLSQ4, SF36). Therefore, we can comprehend with shrewdness the question of psychic impacts of episiotomy in a qualitative and quantitative way by comparing it to other obstetric interventions. In this paper, we will present the first results obtained about a population of twenty-two primiparous women by focusing on body image, sexuality, quality of life, depressive affects, post-traumatic stress disorder and investment of the maternal role. Finally, we will consider the different implications and perspectives of this research which could improve the public health policies in the field of perinatal care.

Keywords: assessment, episiotomy, mental health, psychical impacts

Procedia PDF Downloads 326

Authors: Xianglei Yin, Shen Wang, Baoyi Wang, Laihong Shen

Abstract:

Chemical looping partial oxidation of methane (CLPOM) is a novel technology to produce high-quality syngas with an auto-thermic process and low equipment investment. The development of oxygen carriers is important for the improvement of the CLPOM performance. In this work, the effect of the nickel-substitution proportion on the performance of LaMn₁₋ᵧNiᵧO₃₊δ perovskites for CLPOM was studied in the aspect of reactivity, syngas selectivity, resistance towards carbon deposition and thermal stability in cyclic redox process. The LaMn₁₋ₓNiₓO₃ perovskite oxides with x = 0, 0.1, 0.2 were prepared by the sol-gel method. The performance of LaMn₁₋ᵧNiᵧO₃₊δ perovskites for CLPOM was investigated through the characterization of XRD, H₂-TPR, XPS, and fixed-bed experiments. The characterization and test results suggest that the doping of nickel enhances the generation rate of syngas, leading to high syngas yield, methane conversion, and syngas selectivity. This is attributed to the that the introduction of nickel provides active sites to promote the methane activation on the surface and causes the addition of oxygen vacancies to accelerate the migration of oxygen anion in the bulk of oxygen carrier particles. On the other hand, the introduction of nickel causes carbon deposition to occur earlier. The best substitution proportion of nickel is y=0.1 and LaMn₀.₉Ni₀.₁O₃₊δ could produce high-quality syngas with a yield of 3.54 mmol·g⁻¹, methane conversion of 80.7%, and CO selectivity of 84.8% at 850℃. In addition, the LaMn₀.₉Ni₀.₁O₃₊δ oxygen carrier exhibits superior and stable performance in the cyclic redox process.

Keywords: chemical looping partial oxidation of methane, LaMnO₃₊δ, Ni doping, syngas, carbon deposition

Procedia PDF Downloads 69

Authors: Maliheh Raji, Hossein Abolghasemi, Jaber Safdari, Ali Kargari

Abstract:

Samarium as a rare-earth element is playing a growing important role in high technology. Traditional methods for extraction of rare earth metals such as ion exchange and solvent extraction have disadvantages of high investment and high energy consumption. Emulsion liquid membrane (ELM) as an improved solvent extraction technique is an effective transport method for separation of various compounds from aqueous solutions. In this work, the extraction of samarium from aqueous solutions by ELM was investigated using response surface methodology (RSM). The organic membrane phase of the ELM was a nanofluid consisted of multiwalled carbon nanotubes (MWCNT), Span80 as surfactant, Cyanex 272 as mobile carrier, and kerosene as base fluid. 1 M nitric acid solution was used as internal aqueous phase. The effects of the important process parameters on samarium extraction were investigated, and the values of these parameters were optimized using the Central Composition Design (CCD) of RSM. These parameters were the concentration of MWCNT in nanofluid, the carrier concentration, and the volume ratio of organic membrane phase to internal phase (Roi). The three-dimensional (3D) response surfaces of samarium extraction efficiency were obtained to visualize the individual and interactive effects of the process variables. A regression model for % extraction was developed, and its adequacy was evaluated. The result shows that % extraction improves by using MWCNT nanofluid in organic membrane phase and extraction efficiency of 98.92% can be achieved under the optimum conditions. In addition, demulsification was successfully performed and the recycled membrane phase was proved to be effective in the optimum condition.

Keywords: Cyanex 272, emulsion liquid membrane, MWCNT nanofluid, response surface methology, Samarium

Procedia PDF Downloads 397

Authors: Ebenezer Amoquandoh, Daniel Bruce Sarpong, Godfred K. Ofosu-Budu, Andreas Fliessbach

Abstract:

Soil quality is at stake globally, but under tropical conditions, the loss of soil fertility may be existential. The current rates of soil nutrient depletion, erosion and environmental degradation in most of Africa’s farmland urgently require methods for soil fertility restoration through affordable agricultural management techniques. The study assessed the effects of locally available organic resources to improve soil fertility, crop yield and profitability compared to business as usual on farms in the Eastern and Greater Accra regions of Ghana. Apart from this, we analyzed the change of farmers’ perceptions and knowledge upon the experience with the new techniques; the effect of using locally available organic resource on farmers’ yield and determined the factors influencing the profitability of farming. Using the Difference in Mean Score and Proportion to estimate the extent to which farmers’ perceptions, knowledge and practices have changed, the study showed that farmers’ perception, knowledge and practice on the use of locally available organic resources have changed significantly. This paves way for the sustainable use of locally available organic resource for soil fertility improvement. The Propensity Score Matching technique and Endogenous Switching Regression model used showed that using locally available organic resources have the potential to increase crop yield. It was also observed that using the Profit Margin, Net Farm Income and Return on Investment analysis, it is more profitable to use locally available organic resources than other soil fertility amendments techniques studied. The results further showed that socioeconomic, farm characteristics and institutional factors are significant in influencing farmers’ decision to use locally available organic resources and profitability.

Keywords: soil fertility, locally available organic resources, perception, profitability, sustainability

Procedia PDF Downloads 116

Authors: Bonginkosi A. Thango, Jacobus A. Jordaan, Agha F. Nnachi

Abstract:

In this day and age, there is a proliferate concern from all governments across the globe to barricade the environment from greenhouse gases, which absorb infrared radiation. As a result, solar photovoltaic (PV) electricity has been an expeditiously growing renewable energy source and will eventually undertake a prominent role in the global energy generation. The selection and purchasing of energy-efficient transformers that meet the operational requirements of the solar photovoltaic energy generation plants then become a part of the Independent Power Producers (IPP’s) investment plan of action. Taking these into account, this paper proposes a procedure that put into effect the intricate financial analysis necessitated to precisely evaluate the transformer service lifetime no-load and load loss factors. This procedure correctly set forth the transformer service lifetime loss factors as a result of a solar PV plant’s sporadic generation profile and related levelized costs of electricity into the computation of the transformer’s total ownership cost. The results are then critically compared with the conventional transformer total ownership cost unaccompanied by the emission costs, and demonstrate the significance of the sporadic energy generation nature of the solar PV plant on the total ownership cost. The findings indicate that the latter play a crucial role for developers and Independent Power Producers (IPP’s) in making the purchase decision during a tender bid where competing offers from different transformer manufactures are evaluated. Additionally, the susceptibility analysis of different factors engrossed in the transformer service lifetime cost is carried out; factors including the levelized cost of electricity, solar PV plant’s generation modes, and the loading profile are examined.

Keywords: solar photovoltaic plant, transformer, total ownership cost, loss factors

Procedia PDF Downloads 100