Search results for: interest

Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

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A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic

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Authors: Bahareh Arghand, Seyed Abbas Poorhashemi, Ramin Roshandel

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Nowadays, Economic growth and the increasing use of fossil fuel have caused major damages to environment. Therefore, international law has tried to codify the rules and regulations and identify legal principles to decrease conflict of interests between energy law and environmental law. The open relationship between energy consumption and the law of nature has been ignored for years, because the focus of energy law has been on an affordable price of a reliable supply of energy; while the focus of environmental law was on protection of the nature. In fact, the legal and overall policies of energy are based on Sic Omnes and inter part for governments whereas environmental law is based on common interests and Erga Omnes. The relationship between energy law, environmental law and economic aspects is multilateral, complex and important. Moreover, they influence each other. There are similarities in the triangle of energy, environment and economic aspects and in some cases there are conflict of interest but their conflicts are in goals not in practice and their legal jurisdiction is in international law. The development of national and international rules and regulations relevant to energy-environment has been done by separate sectors, whereas sustainable development principle, especially in the economic sector, requires environmental considerations. It is an important turning point to integrate and decrease conflict of interest among energy law, environmental law and economic aspects. The present study examines existing legal principles on energy and the environment and identifies the similarities and conflicts based on the descriptive-analytic study. The purpose of investigating these legal principles is to integrate and decrease conflict of interest between energy law and environmental law.

Keywords: energy law, environmental law, erga omnes, sustainable development

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Authors: Piotr Prewysz-Kwinto

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The market of financial instruments with high risk is developing very dynamically in recent years and attracts more and more interest of investors. It consists essentially of two groups of instruments, i.e. derivatives and exchange traded product (ETP), and each year new types are introduced and offered to investors. The aim of this paper is to present the principles concerning financial instruments with high investment risk available on the Warsaw Stock Exchange (WSE), because they have quite complex constructions, and to evaluate the development of this market. In order to achieve this aim, statistical data from 2014-2016 was analyzed. The results confirm that the financial instruments with high investment risk available on the WSE constitute a diversified and the most numerous group of financial instruments and attract the most interest of investors. Responsible investing requires, however, a good knowledge of how they work and how they can generate profit to not expose oneself to unexpected losses.

Keywords: derivatives, exchange traded products (ETP), financial instruments, financial market, risk, stock exchange

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Authors: Vladimira Vytlacilova

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This study presents the latest research trend in the discipline of construction and demolition (C&D) waste management in Czech Republic. The results of research interest exhibit an increasing research interest in C&D waste management practices in recent years. Construction and demolition waste creates a major portion of total solid waste production in the world and most of it is used in landfills, for reclamation or landscaping all the time. The quality of recycled aggregates for use in concrete construction depends on recycling practices. Classifications, composition and contaminants influence the mechanical-physical properties as well as environmental risks related to its utilization. The second part of contribution describes properties of fibre reinforced concrete with the full replacement of natural aggregate by recycled one (concrete or masonry rubble).

Keywords: construction and demolition waste, fibre reinforced concrete, recycled aggregate, recycling, waste management

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Authors: Pujiyono, Reda Manthovani, Deny Tri Ardianto, Rabani Halawa, Isharyanto

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This research has background that the taxpayer (defendant) who has paid off the tax payable and the tax penalty payable after the tax case file has been transferred to the court, while the legality of stopping the prosecution of tax cases on the grounds that in the interest of state revenue is not regulated in the provisions of Law Number 8 of 1981 concerning The Criminal Procedure Code and Law Number 28 of 2007 concerning the Third Amendment to Law Number 6 of 1983 concerning General Provisions and Tax Procedures as amended several times, most recently by Law Number 16 of 2009 concerning Stipulation of Government Regulation in Lieu of Law Number 5 of 2008 concerning Fourth Amendment to Law Number 6 0f 1983 concerning General Provisions and Tax Procedures to become Law, even though at the investigation stage it regulates the mechanism for stopping the investigation for the sake of the interest of acceptance ne this is because before the case file is transferred to the court where at the request of the Minister of Finance of The Republic of Indonesia can stop the investigation in the interest of state revenue so that based on this phenomenon a legal vacuum is found. Therefore, a non-penal policy is needed from the public prosecutor to resolve tax crime cases without going through litigation in court through the penal mediation method using the Plea Bargaining System which adheres to the principles of restorative justice and obligative justice based on the ultimum remedium principle and the principle of opportunity in order to realize the principle of fast, simple and low cost justice (content principle). This research is a normative legal research, using a statutory approach, conceptual approach, and comparative law approach. Regulations that is used in many countries, include America, The Netherlands and Singapore. The results of this study indicate that there is a reformulation of the tax criminal justice system which regulates the mechanism, qualifications and authority to terminate the prosecution of tax cases in the interest of state revenues in order to achieve legal goals which are not only for legal certainty but more that, namely providing benefits and legal justice for people seeking justice.

Keywords: obligative justice, regulation, state reveneus, tax criminal

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Authors: Marketa Slazanska

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Cicero is generally perceived as one of the most gifted authors of all the antiquity, which has brought him a great popularity. Even the orator himself was eager to be seen as a man of fine taste for culture and especially literature, which was in his days represented by the interest in everything of a Greek origin. It might, therefore, lead to an assumption that literature was a key interest in his life, too. However, a confirmation of this assumption cannot be found in his letters, which are believed to offer Cicero's most personal statements. Reading his letters thoroughly and comparing them to the respective historical background, it may be found out that the author has mentioned literature mainly in a specific context of his political career losing importance. To analyze the letters have been used in the original Latin version as well as several translations and a large historical and literary background. The object of this paper is to specify, whether Cicero regarded himself more as an author and orator, or as a politician, and how did his correspondents regard him. The respective findings could be useful for better understanding of author's life and work and they may help his readers to see his books from a different, and perhaps more accurate, point of view.

Keywords: antiquity, politician, literature, letters, Cicero, oratory

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Authors: Rukhsana Shaheen, Tahira Ifraq

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Interest based transactions led the advent of Islamic banking. In order to provide an alternative to Interest based banking, financial transactions found in classical books of fiqh were employed. Musharakah, Mudarabah, Murabahah Salam, Ijara, and some other modes were adopted. These modes were modified so that they can be adopted for banking and satisfy the needs of customers. Since the inception of Islamic banking, these modes are being used and with the passage of time, are being molded and experimented with to cater different kinds of customers and requirements. Human efforts cannot be errorless. These modes too bear legal defects which need an in-depth scrutiny and refinement. The aim of this paper is to dig the basis and rulings of these modes in classical books of fiqh and analyze its modification and adoption in Islamic banking and the legal defects that these modes are bearing. Paper will prove itself fruitful by providing remedies for the legal defects.

Keywords: financial instruments, legal defects, remedies, Islamic banking

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Authors: Oumaima Ben Abderrahim, Mohamed Houcine Elhedhili, Leila Saidane

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In this paper, we propose a trust management system based on clustering architecture for the social internet of things called TMBCO-SIOT. The proposed model integrates numerous factors such as direct and indirect trust; transaction factor; precaution factor; and social modeling of trust. The novelty of our approach can be summed up in two aspects. The first aspect concerns the architecture based on the community of interest (CoT) where each community is headed by an administrator (admin). However, the second aspect is the trust management system that tries to prevent On-Off attacks and mitigates dishonest recommendations using the k-means algorithm and guarantor things. The effectiveness of the proposed system is proved by simulation against malicious nodes.

Keywords: IoT, trust management system, attacks, trust, dishonest recommendations, K-means algorithm

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Authors: S. Homrossukon, S. Sansureerungsigun

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This work aims to introduce an efficient and to standardize the measuring system analyses for automotive industrial. The study started by literature reviewing about the management and analyses measurement system. The approach of measuring system management, then, was constructed. Such approach was validated by collecting the current measuring system data using the equipments of interest including vernier caliper and micrometer. Their accuracy and precision of measurements were analyzed. Finally, the measuring system was improved and evaluated. The study showed that vernier did not meet its measuring characteristics based on the linearity whereas all equipment were lacking of the measuring precision characteristics. Consequently, the causes of measuring variation via the equipment of interest were declared. After the improvement, it was found that their measuring performance could be accepted as the standard required. Finally, the standardized approach for analyzing the measuring system of automotive was concluded.

Keywords: automotive part manufacturing measurement, measuring accuracy, measuring precision, measurement system analyses

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Authors: H. Mahdjoub, B. Hamaidi, B. Zerouali, S. Rouabhia

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The issue of fault detection and diagnosis (FDD) has gained widespread industrial interest in process condition monitoring applications. Accordingly, the use of neuro-fuzzy technic seems very promising. This paper treats a diagnosis modeling a strategic equipment of an industrial installation. We propose a diagnostic tool based on adaptive neuro-fuzzy inference system (ANFIS). The neuro-fuzzy network provides an abductive diagnosis. Moreover, it takes into account the uncertainties on the maintenance knowledge by giving a fuzzy characterization of each cause. This work was carried out with real data of a lubrication circuit from the gas turbine. The machine of interest is a gas turbine placed in a gas compressor station at South Industrial Centre (SIC Hassi Messaoud Ouargla, Algeria). We have defined the zones of good and bad functioning, and the results are presented to demonstrate the advantages of the proposed method.

Keywords: fault detection and diagnosis, lubrication system, turbine, ANFIS, training, pattern recognition

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Authors: Kunihiro Kamataki

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In this study, active learning based on simple science experiments was developed in a university class of the freshman, in order to improve their scientific literacy. Through the active learning based on simple experiments of generation of cloud in a plastic bottle, students increased the interest in the global atmospheric problem and were able to discuss and find solutions about this problem positively from various viewpoints of the science technology, the politics, the economy, the diplomacy and the relations among nations. The results of their questionnaires and free descriptions of this class indicate that they improve the scientific literacy and motivations of other classroom lectures to acquire knowledge. It is thus suggested that the science experiment is strong tool to improve their intellectual curiosity rapidly and the connections that link the impression of science experiment and their interest of the social problem is very important to enhance their learning effect in this education.

Keywords: active learning, scientific literacy, simple scientific experiment, university education

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Authors: Tahir Saleem, Mohammad Usman, Nadeem Khan

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GPS signals are used for navigation and positioning purposes by a diverse set of users. However, this project intends to utilize the reflected GPS L5 signals for location of target in a region of interest by generating an image that highlights the positions of targets in the area of interest. The principle of bi-static radar is used to detect the targets or any movement or changes. The idea is confirmed by the results obtained during MATLAB simulations. A matched filter based technique is employed in the signal processing to improve the system resolution. The simulation is carried out under different conditions with moving receiver and targets. Noise and attenuation is also induced and atmospheric conditions that affect the direct and reflected GPS signals have been simulated to generate a more practical scenario. A realistic GPS L5 signal has been simulated, the simulation results verify that the detection and imaging of targets is possible by employing reflected GPS using L5 signals and matched filter processing technique with acceptable spatial resolution.

Keywords: GPS, L5 Signal, SAR, spatial resolution

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Authors: Fety Nurlia Muzayanah, Arif Imam Suroso, Mukhamad Najib

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The market share of organic food in Indonesia just reaches 0.5-2 percents from the entire of agricultural products. The aim of this research is to analyze the relation of gender, work, age and final education toward the buying interest of organic food, to identify the factors influencing the resistance of the purchase of organic food, and to identify the market education process. The analysis result of Structural Equation Modeling (SEM) shows the factors causing the resistance of the purchase of organic food are the negative attitude toward organic food, the lack of affordable in range for organic food product and the lack of awareness toward organic food, while the subjective norms have no significant effect toward the buying interest. The market education process which can be done is the education about the use of the health of organic food, the organic certification and the economic value.

Keywords: market education, organic food, consumer behavior, structural equation modeling

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Authors: Safia Hocine, Djamil Aïssani

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Risk models, recently studied in the literature, are becoming increasingly complex. It is rare to find explicit analytical relations to calculate the ruin probability. Indeed, the stability issue occurs naturally in ruin theory, when parameters in risk cannot be estimated than with uncertainty. However, in most cases, there are no explicit formulas for the ruin probability. Hence, the interest to obtain explicit stability bounds for these probabilities in different risk models. In this paper, we interest to the stability bounds of the univariate classical risk model established using the regenerative processes approach. By adopting an algorithmic approach, we implement this approximation and determine numerically the bounds of ruin probability in the case of large claims (heavy-tailed distribution).

Keywords: heavy-tailed distribution, large claims, regenerative process, risk model, ruin probability, stability

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Authors: Lee Artz

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This presentation outlines US media frames of recent interventions in Iraq, Afghanistan, and Syria and their impact on global media and public discourse. A content analysis of sources, descriptors, and contexts of leading US media (AP, New York Times, Fox News) finds that news coverage highlights terrorism, justifies military action, and downplays the human costs. These media frames that normalize intervention also omit coverage of the environmental consequences of war, with scant or no reporting on pollution, destruction and contamination of agricultural infrastructures and the difficulty of any environmentally sustainable recovery. A content analysis of leading European and Middle East media (Daily Mail, Le Monde, Deutsch Welle, Al Jazeera) indicates that they have adopted the same reporting practices, frames, and techniques resulting in a hybrid, yet homogeneous, increasingly global news environment that does a disservice to the public interest and democracy.

Keywords: conflict, environment, media framing, public interest

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Authors: Maulana Ayoub Ali, Pradeep Kulshrestha

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Laws of any given secular state have a huge contribution in the growth of the Islamic banking system because the system uses conventional laws to govern its activities. Therefore, the former should be ready to accommodate the latter in order to make the Islamic banking system work properly without affecting the current conventional banking system and therefore without affecting its system. Islamic financial rules have been practiced since the birth of Islam. Following the recent world economic challenges in the financial sector, a quick rebirth of the contemporary Islamic ethical banking system took place. The coming of the Islamic banking system is due to various reasons including but not limited to the failure of the interest based economy in solving financial problems around the globe. Therefore, the Islamic banking system has been adopted as an alternative banking system in order to recover the highly damaged global financial sector. But the Islamic banking system has been facing a number of challenges which hinder its smooth operation in different parts of the world. It has not been the aim of this paper to discuss other challenges rather than the legal ones, but the same was partly discussed when it was justified that it was proper to do so. Generally, there are so many things which have been discovered in the course of writing this paper. The most important part is the issue of the regulatory and supervisory framework for the Islamic banking system in Tanzania and in other nations is considered to be a crucial part for the development of the Islamic banking industry. This paper analyses what has been observed in the study on that area and recommends for necessary actions to be taken on board in a bid to make Islamic banking system reach its climax of serving the larger community by providing ethical, equitable, affordable, interest-free and society cantered banking system around the globe.

Keywords: Islamic banking, interest free banking, ethical banking, legal framework

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Authors: H. Saadi-Idouhar, A. Smai, S. Zenia, F. Haddadj, A. Saadi, M. Aissi, S. Doumandji

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In Algeria, the Partridge gambra is a highly sought-after game species and is appreciated for its meat. Game birds are of interest because they play an important role for hunting federations and for the economy of a country. The breeding of indigenous breeds is necessary because it is of great economic interest. However, gambra breeding in the hunting centre of Zeralda (northern west of Algiers) is not easy, several diseases affecting Perdreaux and reproducing adults have been noted. Most of the diseases observed are parasitic in origin. This study is conducted during the 2010 breeding season. It is based on the autopsy of cadavers collected at the hunting centre and parasitic coprology. Indeed, the flotation enrichment method has identified several parasites such as Eimeria spp., Capillaria spp., and Ascaridia spp. Autopsied corpses show the importance of two major diseases, syngamosis caused to Syngamus trachea and histomonosis caused to Histomonas meleagridis.

Keywords: partridge, livestock, eggs, affections pathology

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Authors: Chengming Li, Yong Yin, Peipei Guo, Xiaoli Liu

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Without taking account of the attribute richness of POI (point of interest) data and spatial distribution limited by roads, a POI generalization method considering both attribute information and spatial distribution has been proposed against the existing point generalization algorithm merely focusing on overall information of point groups. Hierarchical characteristic of urban POI information expression has been firstly analyzed to point out the measurement feature of the corresponding hierarchy. On this basis, an urban POI generalizing strategy has been put forward: POIs urban road network have been divided into three distribution pattern; corresponding generalization methods have been proposed according to the characteristic of POI data in different distribution patterns. Experimental results showed that the method taking into account both attribute information and spatial distribution characteristics of POI can better implement urban POI generalization in the mapping presentation.

Keywords: POI, road network, selection method, spatial information expression, distribution pattern

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Authors: Mohamed El Moctar Abeidi

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The indazole derivatives exhibit a wide spectrum of biological activities. They are known for their anti-tumor, antiplatelet, anti-viral, anti-microbial, anti-inflammatory, anti-leishmania and even anti-spermatogen. As part of our research on the synthesis of a number of heterocycles capable of exhibiting a biological and pharmacological property, due to our ongoing interest in the development of a simple and low-cost procedure for obtaining heterocyclic compounds that may have an interest for medicinal purposes. We present in this work the synthesis of 6-nitro-indazoles derivatives, using two different methods. the first method is the alkylation of Nitroindazole by two different alkylating agents under the conditions of solid/liquid phase transfer catalysis in N, N-dimethylformamide (DMF) in the presence of potassium carbonate (K₂CO₃) as a base, and tetra-n-butylammonium bromide (BTBA) as a catalyst. While the other method is the 1,3-dipolar cycloaddition, in this case, we have undertaken the preparation of bi-heterocyclic containing the 6-nitroindazole associate with group of isoxazoline, isoxazole or 1,2,3-Triazole under normal conditions and, under the catalytic conditions of the click chemistry we were also able to determine the structures without any ambiguity by the ¹H and ¹³C NMR.

Keywords: indazole, 6-nitroindazole, isoxazole, 1, 2, 3-Triazole

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Authors: Amina Farooq, Nauman Zafar Butt

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This paper is about methods and tools for counting particles of interest, such as cells. A microfluidic system with interconnected electronics on a flexible substrate, inlet-outlet ports and interface schemes, sensitive and selective detection of cells specificity, and processing of cell counting at polymer interfaces in a microscale biosensor for use in the detection of target biological and non-biological cells. The development of fluidic channels, planar fluidic contact ports, integrated metal electrodes on a flexible substrate for impedance measurements, and a surface modification plasma treatment as an intermediate bonding layer are all part of the fabrication process. Magnetron DC sputtering is used to deposit a double metal layer (Ti/Pt) over the polypropylene film. Using a photoresist layer, specified and etched zones are established. Small fluid volumes, a reduced detection region, and electrical impedance measurements over a range of frequencies for cell counts improve detection sensitivity and specificity. The procedure involves continuous flow of fluid samples that contain particles of interest through the microfluidic channels, counting all types of particles in a portion of the sample using the electrical differential counter to generate a bipolar pulse for each passing cell—calculating the total number of particles of interest originally in the fluid sample by using MATLAB program and signal processing. It's indeed potential to develop a robust and economical kit for cell counting in whole-blood samples using these methods and similar devices.

Keywords: impedance, biochip, cell counting, microfluidics

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Authors: Sitong. Chen, Bing Wei

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As a sociocultural concept, identity has increasingly gained attention in educational research, and the notion of students’ science identity has been widely discussed in the field of science education. Science identity was proved to be a key indicator of students’ learning engagement, persistence, and career intentions in science-related and STEM fields. Thus, a great deal of educational effort has been made to promote students’ science identity in former studies. However, most of this research was focused on students’ identity development during undergraduate and graduate periods, except for a few studies exploring high school students’ identity formation. High school has been argued as a crucial period for promoting science identity. This study applied a qualitative method to explore how high school students have come to form their science identities in previous learning and living experiences. Semi-structured interviews were conducted with 8 newly enrolled undergraduate students majoring in science-related fields. As suggested by the narrative data from interviews, students’ formation of science identities was driven by their five interrelated experiences: growing self-recognition as a science person, achieving success in learning science, getting recognized by influential others, being interested in science subjects, and informal science experiences in various contexts. Specifically, students’ success and achievement in science learning could facilitate their interest in science subjects and others’ recognition. And their informal experiences could enhance their interest and performance in formal science learning. Furthermore, students’ success and interest in science, as well as recognition from others together, contribute to their self-recognition. Based on the results of this study, some practical implications were provided for science teachers and researchers in enhancing high school students’ science identities.

Keywords: high school students, identity formation, learning experiences, living experiences, science identity

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Authors: Irni Rahmayani Johan, Ira Kamelia

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One of the impacts of the rapid advancement of technology is the rise of digital finance, including peer-to-peer lending (P2P). P2P lending has been widely marketed, including an online student loan that used the P2P platform. This study aims to analyze the effect of financial literacy, perception of debt, and perception of risk toward student willingness to use the online student loan (P2P lending). Using a cross-sectional study design, in collecting the data this study employed an online survey method, with a total sample of 280 undergraduate students of IPB university, Indonesia. This study found that financial literacy, perception of debt, perception of risk, and interest in using online student loans are categorized as low level. While the level of knowledge is found to be the lowest, the first-year students showed a higher level in terms of willingness to use the online student loan. In addition, the second year students recorded a positive perception toward debt. This study showed that level of study, attendance in personal finance course, and student’ GPA is positively related to financial knowledge. While debt perception is negatively related to financial attitudes. Similarly, the negative relationship is found between risk perception and the willingness to use the online student loan. The determinant factor of the willingness to use online student loans is the level of study, debt perception, financial risk perception, and time risk perception. Students with a higher level of study are more likely to have a lower interest in using online student loans. Moreover, students who perceived debt as a financial stimulator, as well as those with higher level of financial risk perceptions and time risk perceptions, tend to show more interest to use the loan.

Keywords: financial literacy, willingness to use, online student loan, perception of risk, perception of debt

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Authors: Yosra Baaziz, Moez Labidi

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Given limited research on monetary policy rules in revolutionary countries, this paper challenges the suitability of the Taylor rule in characterizing the monetary policy behavior of the Tunisian Central Bank (BCT), especially in turbulent times. More specifically, we investigate the possibility that the Taylor rule should be formulated as a threshold process and examine the validity of such nonlinear Taylor rule as a robust rule for conducting monetary policy in Tunisia. Using quarterly data from 1998:Q4 to 2013:Q4 to analyze the movement of nominal short-term interest rate of the BCT, we find that the nonlinear Taylor rule improves its performance with the advent of special events providing thus a better description of the Tunisian interest rate setting. In particular, our results show that the adoption of an appropriate nonlinear approach leads to a reduction in the errors of 150 basis points in 1999 and 2009, and 60 basis points in 2011, relative to the linear approach.

Keywords: policy rule, central bank, exchange rate, taylor rule, nonlinearity

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Authors: Gylych Jelilov

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This paper investigates the effect of foreign debt on economic growth. Example has been chosen from Africa, Nigeria. By conducting cointegration test we have tested for a long-run relationship between. GDP = Real gross domestic product, EXTDEBT = External debt, INT = Interest rate, CAB = Current account balance, and EXCHR = Real exchange rate over the period 1990 to 2012. It was found out by the study that there is a negative but insignificant relationship between external debt and real gross domestic product. While a positive relationship exists between external debt and economic growth. Also, showed a negative and significant relationship between interest rate and real gross domestic product and there was a positive but insignificant relationship between current account balance and real gross domestic product.

Keywords: economic growth, foreign debt, Nigeria, sustainable development, economic stability

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Authors: M. E. Marwan, A. R. Madar, N. Fuad

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Mobile communication provides access to the outside world without borders everywhere and at any time. The learning method that related to mobile communication technology is known as mobile learning (M-learning). It is a method that communicates learning materials with mobile device technology. The purpose of this method is to increase the interest in learning among students and assist them in obtaining learning materials at Kolej Poly-Tech MARA (KPTM) in order to improve the student’s performance in their study and to encourage educators to diversify the teaching practices. This paper discusses the student’s awareness for enhancement of learning style using mobile technologies and their readiness to apply the elements of mobile learning in learning to improve performance and interest in learning among students. An application called Mobile EEF Learning System (MEEFLS) has been developed as a tool to be used as a pilot test in KPTM.

Keywords: awareness, mobile learning, MEEFLS, teaching and learning, readiness

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Authors: George-Anokwuru Chioma Chidinma Bernadette

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This paper investigated the effect of trade liberalization on domestic private investment in Nigeria from 1981 to 2020. To achieve this objective, secondary data on domestic private investment, trade openness, exchange rate and interest rate were sourced from the statistical bulletin of Nigeria’s apex bank. The Autoregressive Distributed Lag (ARDL) technique was used as the main analytical tool. The ARDL Bounds test revealed the existence of long run association among the variables. The results revealed that trade openness and exchange rate have positive and insignificant relationship with domestic private investment both in the long and short runs. At the same time, interest rate has negative relationship with domestic private investment both in the long and short runs. Therefore, it was concluded that there is no significant relationship between trade openness, exchange rate, interest rate and domestic private investment in Nigeria during the period of study. Based on the findings, the study recommended that government should formulate trade policies that will encourage the growth of domestic private investment in Nigeria. To achieve this, government should ensure consistency in trade policies and at the same time strengthen the existing policies to build investors’ confidence. Also, government should make available an investment-friendly environment, as well as monitor real sector operators to ensure that foreign exchange allocations are not diverted. Government should increase capital investment in education, housing, transportation, agriculture, health, power, road construction, national defense, among others that will help the various sectors of the economy to function very well thereby making the business environment friendly thereby enhancing the growth and development of the country.

Keywords: trade openness, domestic private investment, ARDL, exchange rate

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Authors: Marcos Centurion-Vicencio

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This study discusses the idea of ‘dominance’ in economic policy and its practical influence over monetary decisions. The discretionary use of repurchase agreements in Brazil over the period 2006-2016 and its effects on the overall price level are the specific issues we will be focusing on. The set of in-depth interviews carried out with public servants at the Brazilian central bank and national treasury, alongside data collected from the National Institution of Statistics (IBGE), suggest that monetary and fiscal dominance do not differ in nature once the assumption of depoliticized central bankers is relaxed. In both regimes, the pursuit of private gains via public institutions affects price stability. While short-sighted politicians in the latter are at the origin of poor monetary decisions, the action of short-sighted financial interest groups is likely to generate a similar outcome in the former. This study then contributes to rethinking monetary policy theory as well as the nature of public borrowing.

Keywords: fiscal and monetary interactions, interest groups, monetary capture, public borrowing

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Authors: Kartina Sury Kariman

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Brand-to-customer (B2C) engagement has been well established through the traditional platform such as direct sales, advertising, customer service center, customer hotline as well as brand usage experiences. Increasingly, interest to B2C has evolved to include customer-to-customer (C2C) interaction analysis aligned with the vast growth of web 2.0. Hence, discussion on C2C interaction and brand strategy have captured social media as it enables brands and C2C interaction to be connected in various ways, providing opportunities for marketers to shape their brand engagement strategy while reaching C2C as the targeted outcomes. The objective here is to provide a preliminary review of C2C interaction consisting the antecedents and consequences while highlighting areas of research interest within the context from marketers perspective and the business outcomes. This paper discusses how C2C interaction defines marketers’ brand and communication strategy and how social media trend shapes the strategy when promoting the awareness of life insurance industry and educating the target market.

Keywords: social media, brand engagement, customer interaction, customer engagement, brand strategy, life insurance

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Authors: Vedat Acar, Osman Eralp Çolakoğlu

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In this research, with reference to specialization of travel agencies being an important part of tourism industry, a project has been presented about a small-scale enterprise, called as Zeytinseli, contributing actively from the beginning to the end of the production process of olive and olive oil within the context of rural tourism. For this purpose in the research done, firstly, conceptual framework has been formed about travel agency, tour operatorship, specialized travel agency and rural tourism and the necessity of specialization on tourism has been emphasized in today's world. Afterwards, "olive", having an important role in both mythology and divine religions, has been handled within the scope of rural tourism. The cost of accommodation units about Zeytinseli operating in Didim, being a district of Aydın, has been calculated within the context of the project and a fifteen-day's tour to this enterprise has been presented at the end of this project. The research may be said to be an original research on account of embodying not only ecotourism, agro tourism but also cultural tourism and special interest tourism.

Keywords: agro tourism, rural tourism, specialization of travel agency, special interest tourism

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Authors: Aleksandra Szunke

Abstract:

Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

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