Search results for: legal and institutional framework

Authors: Gerhard Peter

Abstract:

In this paper, we present an integrated framework that governs the introduction of social media into enterprises and its evaluation. It is argued that the framework should address the following issues: (1) the contribution of social media for increasing efficiency and improving the quality of working life; (2) the level on which this contribution happens (i.e., individual, team, or organisation); (3) a description of the processes for implementing and evaluating social media; and the role of (4) organisational culture and (5) management. We also report the results of a case study where the framework has been employed to introduce a social networking platform at a German enterprise. This paper only considers the internal use of social media.

Keywords: case study, enterprise 2.0, framework, introducing and evaluating social media, social media

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Authors: Anod H. Alhazmi, Hanaa A. Yamani

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The lack of digital transformation professionals could prevent Saudi Arabia’s universities from providing digital services. The task of understanding what digital skills are needed within an organization, measuring the existing skills, and developing or attracting talents is a complex task. This paper provides a comprehensive analysis of the digital transformation skills needed in the organizations who seek digital transformation and identifies the skills and competencies framework DigSC built on Skills Framework for the Informational Age (SFIA) framework that is adopted by the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia. The framework adopted identifies the main digital transformation skills clusters, categories and levels of responsibilities for each job description to fill the gap between this requirement and the digital skills supplied by the Umm Alqura University (UQU).

Keywords: competencies, digital transformation, framework, skills, Umm Alqura university

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Authors: Mohit Taneja, Ravi Kiran, S. C. Bose

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Entrepreneurs’ role in achieving Sustainable development goals is crucial as the growth potential of any region depends upon the number and the success rate of entrepreneurial firms. This paper is an effort to examine the relationship between Sustainable growth (SG) with Entrepreneurial attitude (EA) and Entrepreneurial intention (EI) in the context of the Indian economy. The mediation effect of EI between EA and SG has been considered. Partial least square (PLS) –Structural Equation Model (SEM) software was used to design the framework. Students enrolled in entrepreneurship courses of higher educational institutes (HEI) of Punjab, Haryana, and the National Capital Region NCR were contacted for data collection. The National Institutional Ranking Framework (NIRF) framework was used in selecting HEIs and data collected from 589 students was considered for analysis. McGee’s multi-dimensional scale for measuring ESE and the scale of Linan & Chen for measuring EI & ES (SG) was used. Results highlight that EA has a strong impact on EI (p≤ 0.001) and EI has a positive and strong relationship with SG (ES) as β value for the same is 0.683 (p≤ 0.001). The current study also reflects the mediating effect of EI among EA and ES, as the results show that the combined β value of both EA and EI (i.e.0.684*0.683= 0.467) is more than the direct influence of EA on ES (β=0.265). EA, with the mediating effect of EI can enhance the opportunity for achieving SG, which suggests that in order to increase the venture success rate and to attain SG, emphasis should be given to EI along with EA. The study has been investigated in three regions of India. Future studies can be extended to other South Asian countries for generalization.

Keywords: entrepreneurship, sustainable growth, entrepreneurship intention, entrepreneurship attitude

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Authors: Gabriel Jinga, Madalina Dumitru

Abstract:

The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalization of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modeled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: management accounting, change, Romania, contingency, institutional theory

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Authors: Hycham Aboutaleb, Bruno Monsuez

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Current systems' complexity has reached a degree that requires addressing conception and design issues while taking into account environmental, operational, social, legal, and financial aspects. Therefore, one of the main challenges is the way complex systems are specified and designed. The exponentially growing effort, cost, and time investment of complex systems in modeling phase emphasize the need for a paradigm, a framework, and an environment to handle the system model complexity. For that, it is necessary to understand the expectations of the human user of the model and his limits. This paper presents a generic framework for designing complex systems, highlights the requirements a system model needs to fulfill to meet human user expectations, and suggests a graph-based formalism for modeling complex systems. Finally, a set of transformations are defined to handle the model complexity.

Keywords: higraph-based, formalism, system engineering paradigm, modeling requirements, graph-based transformations

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Authors: Alina Murtishcheva

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The tendency of globalization, challenges to democracy and peace caused by the Russian invasion of Ukraine, and other global conflicts require searching general orientations of governmental development, including local government. The formation of a common theoretical framework for local government guarantees not only of harmonisation of European legislation but also creates prerequisites for the integration of new members into the European Union. One of the most important milestones of such a theoretical framework is the concept of decentralization. Decentralization as a phenomenon is characteristic of most European Union countries at different historical stages. For Ukraine, as a country that has clearly defined a European integration vector of development, understanding not only the legal but also the theoretical basis of decentralisation processes in European countries is an important prerequisite for further reforms. Decentralisation takes different forms, which leads to a variety of understandings in doctrine and, consequently, different interpretations in national legislation. Despite of this, decentralisation is based on common ideas and values such as democracy, participation, the rule of law, and proximity government that are shared by all EU member states. Nevertheless, not all EU countries are currently implementing broad decentralization in their political and legal practices. Some countries are gradually moving in this direction, while others remain quite centralised. There is also a new, insufficiently studied trend today – recentralisation, which can be broadly defined as the strengthening of centralization tendencies in countries that were considered to be decentralized. Consequently, an exploratory theoretical study is needed to identify how the concept of decentralization is combined with the recentralization tendency in EU member states. The purpose of this study is to empirically analyse scientific approaches to the concept of “decentralisation”, to highlight the tendency of recentralisation and its consequences, to analyse Ukraine's experience in the field of decentralisation of public power, and to outline the prospects for further development of Ukrainian legislation in this area.

Keywords: centralization, decentralization, local government, recentralization, reforms

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Authors: Natàlia Garcia Soler, Timothy Moss

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Despite the multiple benefits of sustainable urban drainage, as demonstrated in numerous case studies across the world, urban rainwater harvesting techniques are generally restricted to isolated model projects. The leap from niche to mainstream has, in most cities, proved an elusive goal. Why policies promoting rainwater harvesting are limited in their widespread implementation has seldom been subjected to systematic analysis. Much of the literature on the policy, planning and institutional contexts of these techniques focus either on their potential benefits or on project design, but very rarely on a critical-constructive analysis of past experiences of implementation. Moreover, the vast majority of these contributions are restricted to single-case studies. There is a dearth of knowledge with respect to, firstly, policy implementation processes and, secondly, multi-case analysis. Insights from both, the authors argue, are essential to inform more effective rainwater harvesting in cities in the future. This paper presents preliminary findings from a research project on rainwater harvesting in cities from a social science perspective that is funded by the Swedish Research Foundation (Formas). This project – UrbanRain – is examining the challenges and opportunities of mainstreaming rainwater harvesting in three European cities. The paper addresses two research questions: firstly, what lessons can be learned on suitable policy incentives and planning instruments for rainwater harvesting from a meta-analysis of the relevant international literature and, secondly, how far these lessons are reflected in a study of past and ongoing rainwater harvesting projects in a European forerunner city. This two-tier approach frames the structure of the paper. We present, first, the results of the literature analysis on policy and planning issues of urban rainwater harvesting. Here, we analyze quantitatively and qualitatively the literature of the past 15 years on this topic in terms of thematic focus, issues addressed and key findings and draw conclusions on research gaps, highlighting the need for more studies on implementation factors, actor interests, institutional adaptation and multi-level governance. In a second step we focus in on the experiences of rainwater harvesting in Berlin and present the results of a mapping exercise on a wide variety of projects implemented there over the last 30 years. Here, we develop a typology to characterize the rainwater harvesting projects in terms of policy issues (what problems and goals are targeted), project design (which kind of solutions are envisaged), project implementation (how and when they were implemented), location (whether they are in new or existing urban developments) and actors (which stakeholders are involved and how), paying particular attention to the shifting institutional framework in Berlin. Mapping and categorizing these projects is based on a combination of document analysis and expert interviews. The paper concludes by synthesizing the findings, identifying how far the goals, governance structures and instruments applied in the Berlin projects studied reflect the findings emerging from the meta-analysis of the international literature on policy and planning issues of rainwater harvesting and what implications these findings have for mainstreaming such techniques in future practice.

Keywords: institutional framework, planning, policy, project implementation, urban rainwater management

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Authors: Abisha Isaac Mohanlal

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Amidst all suspicions and cynicism raised by the legal fraternity, Artificial Intelligence has found its way into the legal system and has revolutionized the conventional forms of legal services delivery. Be it legal argumentation and research or resolution of complex legal disputes; artificial intelligence has crept into all legs of modern day legal services. Its impact has been largely felt by way of big data, legal expert systems, prediction tools, e-lawyering, automated mediation, etc., and lawyers around the world are forced to upgrade themselves and their firms to stay in line with the growth of technology in law. Researchers predict that the future of legal services would belong to artificial intelligence and that the age of human lawyers will soon rust. But as far as the Judiciary is concerned, even in the developed countries, the system has not fully drifted away from the orthodoxy of preferring Natural Intelligence over Artificial Intelligence. Since Judicial decision-making involves a lot of unstructured and rather unprecedented situations which have no single correct answer, and looming questions of legal interpretation arise in most of the cases, discretion and Emotional Intelligence play an unavoidable role. Added to that, there are several ethical, moral and policy issues to be confronted before permitting the intrusion of Artificial Intelligence into the judicial system. As of today, the human judge is the unrivalled master of most of the judicial systems around the globe. Yet, scientists of Artificial Intelligence claim that robot judges can replace human judges irrespective of how daunting the complexity of issues is and how sophisticated the cognitive competence required is. They go on to contend that even if the system is too rigid to allow robot judges to substitute human judges in the recent future, Artificial Intelligence may still aid in other judicial tasks such as drafting judicial documents, intelligent document assembly, case retrieval, etc., and also promote overall flexibility, efficiency, and accuracy in the disposal of cases. By deconstructing the major challenges that Artificial Intelligence has to overcome in order to successfully invade the human- dominated judicial sphere, and critically evaluating the potential differences it would make in the system of justice delivery, the author tries to argue that penetration of Artificial Intelligence into the Judiciary could surely be enhancive and reparative, if not fully transformative.

Keywords: artificial intelligence, judicial decision making, judicial systems, legal services delivery

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Authors: Clemence Collon, Didier Poracchia

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The manipulation of sports competitions is a new type of sports integrity problem. While doping has become an organized, institutionalized struggle, the manipulation of sports competitions is gradually building up. This study aims to describe and understand how the soft Olympic and Paralympic law was gradually built. It also summarizes the legal tools for prevention, detection, and sanction developed by the international Olympic movement. Then, it analyzes the impact of this soft law on the law of the States, in particular in French law. This study is mainly based on an analysis of existing legal literature and non-binding law in the International Olympic and Paralympic movement and on the French National Olympic Committee. Interviews were carried out with experts from the Olympic movement or experts working on combating the manipulation of sports competitions; the answers are also used in this article. The International Olympic Committee has created a supranational legal base to fight against the manipulation of sports competitions. This legal basis must be respected by sports organizations. The Olympic Charter, the Olympic Code of Ethics, the Olympic Movement Code on the prevention of the manipulation of sports competitions, the rules of standards, the basic universal principles, the manuals, the declarations have been published in this perspective. This sports soft law has influences or repercussions in each state. Many states take this new form of integrity problem into account by creating state laws or measures in favor of the fight against sports manipulations. France has so far only a legal basis for manipulation related to betting on sports competitions through the infraction of sports corruption included in the penal code and also created a national platform with various actors to combat this cheating. This legal study highlights the progressive construction of the sports law rules of the Olympic movement in the fight against the manipulation of sports competitions linked to sports betting and their impact on the law of the states.

Keywords: integrity, law and ethics, manipulation of sports competitions, olympic, sports law

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Authors: Bryan Jenkins

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Introduction: The expansion of irrigation in the Canterbury region has led to the sustainability limits being reached for water availability and the cumulative effects of land use intensification. The institutional framework under New Zealand’s Resource Management Act was found to be an inadequate basis for managing water at sustainability limits. An alternative paradigm for water management was developed based on collaborative governance and nested adaptive systems. This led to the formulation and implementation of the Canterbury Water Management Strategy. Methods: The nested adaptive system approach was adopted. Sustainability issues were identified at multiple spatial and time scales and defined potential failure pathways for the water resource system. These included biophysical and socio-economic issues such as water availability, cumulative effects on water quality due to land use intensification, projected changes in climate, public health, institutional arrangements, economic outcomes and externalities, and, social effects of changing technology. This led to the derivation of sustainability strategies to address these failure pathways. The collaborative governance approach involved stakeholder participation and community engagement to decide on a regional strategy; regional and zone committees of community and rūnanga (Māori groups) members to develop implementation programmes for the strategy; and, farmer collectives for operational management. Findings: The strategy identified improvements in the efficiency of use of water already allocated was more effective in improving water availability than a reliance on increased storage alone. New forms of storage with less adverse impacts were introduced, such as managed aquifer recharge and off-river storage. Reductions of nutrients from land use intensification by improving management practices has been a priority. Solutions packages for addressing the degradation of vulnerable lakes and rivers have been prepared. Biodiversity enhancement projects have been initiated. Greater involvement of Māori has led to the incorporation of kaitiakitanga (resource stewardship) into implementation programmes. Emerging issues are the need for improved integration of surface water and groundwater interactions, increased use of modelling of water and financial outcomes to guide decision making, and, equity in allocation among existing users as well as between existing and future users. Conclusions: However, sustainability analysis indicates that the proposed levels of management interventions are not sufficient to achieve community targets for water management. There is a need for more proactive recovery and rehabilitation measures. Managing to environmental limits is not sufficient, rather managing adaptive cycles is needed. Better measurement and management of water use efficiency is required. Proposed implementation packages are not sufficient to deliver desired water quality outcomes. Greater attention to targets important to environmental and recreational interests is needed to maintain trust in the collaborative process. Implementation programmes don’t adequately address climate change adaptations and greenhouse gas mitigation. Affordability is a constraint on adaptive capacity of farmers and communities. More funding mechanisms are required to implement proactive measures. The legislative and institutional framework needs to be changed to incorporate water framework legislation, regional sustainability strategies and water infrastructure coordination.

Keywords: collaborative governance, irrigation management, nested adaptive systems, sustainable water management

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Authors: Gabriel Jinga, Madalina Dumitru

Abstract:

The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalisation of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modelled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: management accounting, change, Romania, contingency and institutional theory

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Authors: Ermal Xhelilaj

Abstract:

International practice has revealed that many maritime conflicts have been initiated as a direct result of coastal states’ disagreements over maritime boundaries and other related maritime issues. These disagreements embrace relevant problematic matters reflecting international conflicts, which in order to prevent further escalation into international crises or even armed conflicts have to be legally resolved. The most challenging cases in international system involve regional or bilateral disputes regarding maritime boundaries delimitations between states, which may result in the activation of respective armed forces, considered crucial elements for the protection of territorial sovereignty. Taken under considerations the legal issues that Law of the Sea Convention (1982) reflects, including the legal provisions over disputes settlements, the importance of analyzing this paramount issue might be considered relevant at present. Therefore, this study will be focused in discussing legal and practical issues that concern the resolution of international maritime disputes seen from international relations point of view, by initially analyzing UN Convention on the Law of the Sea (UNCLOS 1982) relevant legal provisions, further discussing several notable cases over maritime boundaries delimitations as well as concluding with some recommendations related to this issue. The author is of the opinion that although the boundaries delimitation’s legal regime of UNCLOS reflects important standards for dispute settlements, yet considering the complex situation that represents this issue, relevant amendments might be necessary to be undertaken by international maritime organizations in order to further clarify the aforementioned legal matter.

Keywords: Law of the Sea, maritime conflicts, dispute settlements, international relations

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Authors: Augustar Omoze Ehighalua, Itotenaan Henry Ogiri

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As a mono-product economy, Nigeria relies largely on oil revenues for its foreign exchange earnings and the exploration activities of firms operating in the Niger Delta region have left in its wake tales of environmental degradation, poverty and misery. This, no doubt, have created corporate social responsibility issues in the region. The focus of this research is the critical evaluation of the ethical response to Corporate Social Responsibility (CSR) practice by firms operating in Nigeria Delta Swamplands. While CSR is becoming more popular in developed society with effective practice guidelines and reporting benchmark, there is a relatively low level of awareness and selective applicability of existing international guidelines to effectively support CSR practice in Nigeria. This study, haven identified the lack of CSR institutional framework attempts to develop an ethically-driven CSR transparency benchmark laced within a regulatory framework based on international best practices. The research adopts a qualitative methodology and makes use of primary data collected through semi-structured interviews conducted across the six core states of the Niger Delta Region. More importantly, the study adopts an inductive, interpretivist philosophical paradigm that reveal deep phenomenological insights into what local communities, civil society and government officials consider as good ethical benchmark for responsible CSR practice by organizations. The institutional theory provides for the main theoretical foundation, complemented by the stakeholder and legitimacy theories. The Nvivo software was used to analyze the data collected. This study shows that ethical responsibility is lacking in CSR practice by firms in the Niger Delta Region of Nigeria. Furthermore, findings of the study indicate key issues of environmental, health and safety, human rights, and labour as fundamental in developing an effective CSR practice guideline for Nigeria. The study has implications for public policy formulation as well as managerial perspective.

Keywords: corporate social responsibility, CSR, ethics, firms, Niger-Delta Swampland, Nigeria

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Authors: Abeeb Abiodun Bakare

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The advent of blockchain technology has birthed a revolutionary innovation: smart contracts. These self-executing contracts, encoded within the immutable ledger of a blockchain, hold the potential to transform the landscape of traditional contractual agreements. This research paper embarks on a comprehensive exploration of the legal implications surrounding smart contracts, delving into their enforceability and their profound impact on traditional contract law. The first section of this paper delves into the foundational principles of smart contracts, elucidating their underlying mechanisms and technological intricacies. By harnessing the power of blockchain technology, smart contracts automate the execution of contractual terms, eliminating the need for intermediaries and enhancing efficiency in commercial transactions. However, this technological marvel raises fundamental questions regarding legal enforceability and compliance with traditional legal frameworks. Moving beyond the realm of technology, the paper proceeds to analyze the legal validity of smart contracts within the context of traditional contract law. Drawing upon established legal principles, such as offer, acceptance, and consideration, we examine the extent to which smart contracts satisfy the requirements for forming a legally binding agreement. Furthermore, we explore the challenges posed by jurisdictional issues as smart contracts transcend physical boundaries and operate within a decentralized network. Central to this analysis is the examination of the role of arbitration and dispute resolution mechanisms in the context of smart contracts. While smart contracts offer unparalleled efficiency and transparency in executing contractual terms, disputes inevitably arise, necessitating mechanisms for resolution. We investigate the feasibility of integrating arbitration clauses within smart contracts, exploring the potential for decentralized arbitration platforms to streamline dispute resolution processes. Moreover, this paper explores the implications of smart contracts for traditional legal intermediaries, such as lawyers and judges. As smart contracts automate the execution of contractual terms, the role of legal professionals in contract drafting and interpretation may undergo significant transformation. We assess the implications of this paradigm shift for legal practice and the broader legal profession. In conclusion, this research paper provides a comprehensive analysis of the legal implications surrounding smart contracts, illuminating the intricate interplay between code and law. While smart contracts offer unprecedented efficiency and transparency in commercial transactions, their legal validity remains subject to scrutiny within traditional legal frameworks. By navigating the complex landscape of smart contract law, we aim to provide insights into the transformative potential of this groundbreaking technology.

Keywords: smart-contracts, law, blockchain, legal, technology

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Authors: K. C. Sony

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This paper investigates the coping strategies of households confronting disease in large cardamom (Amomum Subulatum Roxb.) in eastern Nepal. Cardamom farmers draw on various coping strategies to reduce the impact of crop disease in their livelihoods. Yet farmers face tremendous decline in production with a constant effort for revival. Past evidences provides dearth of information about coping strategies employed by farmers and institutional intervention to combat disease. Using factual data from Ilam district, and conducting a political economic analysis, this research addresses the gap by 1) understanding the impact of crop disease in farmers’ livelihoods, 2) identifying the coping strategies adopted by farmers and, 3) examining the existing institutional arrangements to address the disease. Coping strategies vary by household’s status defined by size of land, alternative income, and access to supporting institutions. Measures adopted are burning the cardamom field, changing land use pattern, diversifying crops, and visiting institutions for support. The local government’s support is limited to providing trainings and producing new varieties of cardamom. During crisis, farmers expect institutions to help revive the cardamom production, despite customary practice to combat disease. To retain and improve the livelihoods of farmers, there needs to be institutional innovation at the community level and policies that endorse immediate and sustainable support during hazards.

Keywords: cardamom, coping strategy, disease, institutions, Nepal

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Authors: Ana Lambelho

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In an economic crisis such as the one that shook (and still shake) Europe, one does not question the importance of the measures that encourage the hiring and integration of young people into the labour market. In the mentioned context, enterprises tend to reduce the cost of labour and to seek flexible contracting instruments. The professional internships allow innovation and creativity at low cost, because, as they are not labour contracts, the enterprises do not have to respect the minimum standards related to wages, working time duration and so on. In Portugal, we observe a widespread existence of training contracts in which the trainee worked several hours without salary or was paid below the legally prescribed for the function and the work period. For this reason, under the tripartite agreement for a new system of regulation of labour relations, employment policies and social protection, between the Government and the social partners, in June 2008, foresaw a prohibition of professional internships unpaid and the legal regulation of the mandatory internships for access to an activity. The first Act about private internship contracts, i.e., internships without public funding was embodied in the Decree-Law N. 66/2011, of 1^st June. This work is dedicated to the study of the legal regime of the internship contract in Portugal, by analysing the problems brought by the new set of rules and especially those which remains unresolved. In fact, we can conclude that the number of situations covered by the Act is much lower than what was expected, because of the exclusion of the mandatory internship for access to a profession when the activity is developed autonomously. Since the majority of the activities can be developed both autonomously or subordinated, it is quite easy to out of the Act requirements and, so, out of the protection that it confers to the intern. In order to complete this study, we considered not only the mentioned legal Act, but also the few doctrine and jurisprudence about the theme.

Keywords: intern, internship contact, labour law, Portugal

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Authors: Pumela Msweli, Dexter L. Ryneveldt

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

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

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Authors: Samir Assal

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This paper considers an international sample of venture capital and private equity funds to assess the role of law, corruption and culture in setting fund manager fees in terms of their fixed management fees, carried interest performance fees, clawbacks of fees and cash versus share distributions of fees. The data highlight a role of legal conditions in shaping fees paid to fund managers. In countries with better legal conditions, fixed fees are lower, carried interest fees are higher, clawbacks are less likely, and share distributions are more likely. These findings suggest legal conditions help to align the interests of managers and shareholders. More specifically, we examine which element of legal conditions matter most, and discover that corruption levels play a pronounced role in shaping fund manager fee contracts. We also show that cultural forces such as Hofstede’s measures of power distance and uncertainty avoidance likewise play a role in influencing fees.

Keywords: managerial compensation, incentive contracts, private equity, law and finance

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Authors: Serkan Tezgel

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Effectively managing threats and power that transcend national boundaries requires a reformulation from the traditional post-modern navy to an adaptive and institutional transnational navy. By analyzing existing soft power concept, post-modern navy, and sea power, this study proposes the transnational navy, founded on the triangle of main attributes of transnational companies, 'Global Competitiveness, Local Responsiveness, Worldwide Learning and Innovation Sharing', a new model which will lead to a positive peace with an institutional network. This transnational model necessitates 'Transnational Navies' to help establish peace with collective and transnational understanding during a transition period 'Reactive Postmodern Navy' has been experiencing. In this regard, it is fairly claimed that a new paradigm shift will revolve around sea power to establish good order at sea with collective and collaborative initiatives and bound to breed new theories and ideas in the forthcoming years. However, there are obstacles to overcome. Postmodern navies, currently shaped by 'Collective Maritime Security' and 'Collective Defense' concepts, can not abandon reactive applications and acts. States deploying postmodern navies to realize their policies on international platforms and seapower structures shaped by the axis of countries’ absolute interests resulted in multipolar alliances and coalitions, but the establishment of the peace. These obstacles can be categorized into three tiers in establishing a unique transnational model navy: Strategic, Organizational and Management challenges. To overcome these obstacles and challenges, postmodern navies should transform into cooperative, collective and independent soft transnational navies with the transnational mentality, global commons, and institutional network. Such an adaptive institution can help the world navigate to a positive peace.

Keywords: postmodern navy, transnational navy, transnational mentality, institutional network

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Authors: Showkat Ahmad Bhat, M. S. Bhatt

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The study evaluates the ex-post impact of institutional credit on agricultural output. It first examines the key factors that influence the accessibility of institutional credit by farm households. For quantitative analysis both program participant and non-participant respondents were drawn and cross-sectional survey data were collected from 412 households in Pulwama District of Jammu & Kashmir (India). Propensity Score Matching Method was employed to analyze the impact of the institutional credit on agricultural output. Results show that institutional credit has a positive and significant impact on the agricultural output measured in terms of farm income and crop productivity. To estimate the accessibility of credit, an examination of both demand side and supply side factors were carried out. The demand for credit was measured with respect to respondents who applied for credit. Supply side credit allocation measured in terms of the proportion of ‘credit amount’ farmers obtained. Logit and Two-limit Tobit Regression Models were used to investigate the determinants that influence the accessibility of formal credit for Demand for and supply of credit respectively. The estimated results suggested that the demand for credit is positively and significantly affected by the factors such as: age of the household head, formal education, membership, cash crop grown, farm size and saving account. All the variables were found significantly increasing the household’s likelihood to demand for and supply of credit from banks. However, the impact of these factors varies considerably across the credit markets. Factors which were found negatively and significantly influencing the accessibility of credit were: ‘square of the age’, household assets and rate of interest. The credit constraints analysis suggested that square of the age; household assets and rate of interest were the three most important factors that increased the probability of being constrained. The study finally discusses these results in detail and draws some recommendations.

Keywords: institutional credit, agriculture, propensity score matching logit model, Tobit model

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Authors: Inayatullah Jan, Sidra Pervez

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Effective institutional arrangements at local and national levels are quintessential for promotion of renewable energy in a country. This study attempts to examine the institutional arrangements for development of domestic renewable energy in rural northwest Pakistan. The study describes that very limited number of public and private organizations were working on clean development in the area. Surprisingly, no institutional arrangements exclusively meant for domestic clean energy promotion were observed in the area. The study concludes that the objectives of Kyoto Protocol in Pakistan can be achieved only if the government and non-governmental organizations work together to launch cost-effective renewable energy interventions, particularly in rural areas. The need is to have a coordinated, consistent, and focused cooperation of all stakeholders involved in promotion of domestic renewable energy at all levels. This will not only improve the socioeconomic and environmental conditions in the local context, but will play a key role in achieving the United Nations Millennium Development Goals(MDGs).

Keywords: governance, clean energy, greenhouse gases, CDM, Northwest Pakistan

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Authors: Chechen Liao, Pui-Lai To, Chiao-Ying Chen

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An introduction of internet auction has significantly widened the pool of consumers who participate in auctions and increased the number of companies attempting to sell their products in an auction format. Previous research on auctions has focused almost exclusively on the behavior of professional bidders. In this study, we focus on the characteristic of seller, auction parameter and the effect of supply and demand, and examine these impacts on auction effectiveness. In particular, a framework for online auction effectiveness was developed. The framework will help researchers and practitioner to find ways to improve online auction effectiveness.

Keywords: Auction Effectiveness, Framework Developing, Online Auction, Selling Strategy

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Authors: Kahandawala Arachchige Thani Chathurika Kahandawala

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This research is attempted to analyse, Sri Lanka’s current situation regarding the recognition and enforcement of international commercial arbitration awards. Sri Lanka has been involved with commercial arbitration for a long time period. But there are good and bad legal practices in place in proceedings in Sri Lanka legal system. The common perception and reality of Sri Lanka’s arbitration law and practices regarding recognition and enforcement of international arbitral awards is far behind the international standards. Therefore arbitration as a dispute resolution method has become a time-consuming and costly method in Sri Lanka. This research is employed with the qualitative method based on both primary and secondary resources. This carried out the comparative analysis of recognition and enforcement in international arbitration laws established jurisdiction in Singapore and the United Kingdom, which are known as best counties as a seat of arbitration in Asia and Europe. International conventions, act and all the legal proceedings regarding recognition and enforcement of an international arbitral award in Sri Lanka are going to be discussed in the research. In the Jurisdiction of Sri Lanka, critically need to value an international arbitral award in the domestic legal system. Therefore an award has to be recognised in Sri Lanka. Otherwise, it doesn’t have any value. After recognizing it, court can enforce it. This research intends to provide a comparative analysis to overcome the drawbacks.

Keywords: arbitration, alternative dispute method, recognition and enforcement, foreign arbitral awards, Sri Lankan legal system, arbitral award in Singapore

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Authors: M. Moso-Diez, J. L. Moragues-Oregi, K. Simon-Elorz

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Innovation procurement is designed to steer the development of solutions towards concrete public sector needs as a driver for innovation from the demand side (in public services as well as in market opportunities for companies), is horizontally emerging as a new policy instrument. In 2014 the new EU public procurement directives 2014/24/EC and 2014/25/EC reinforced the support for Public Procurement for Innovation, dedicating funding instruments that can be used across all areas supported by Horizon 2020, and targeting potential buyers of innovative solutions: groups of public procurers with similar needs. Under this programme, new policy adapters and networks emerge, aiming to embed innovation criteria into new procurement processes. As these initiatives are in process, research related to is scarce. We argue that Innovation Public Procurement can arise as an innovative policy instrument to public procurement in different policy domains, in spite of existing institutional and cultural barriers (legal guarantee versus innovation). The presentation combines insights from public procurement to supply management chain management in a sustainability and innovation policy arena, as a means of providing understanding of: (1) the circumstances that emerge; (2) the relationship between public and private actors; and (3) the emerging capacities in the definition of the agenda. The policy adopters are the contracting authorities that mainly are at municipal level where they interact with the supply management chain, interconnecting sustainability and climate measures with other policy priorities such as innovation and urban planning; and through the Competitive Dialogue procedure. We found that geography and territory affect both the level of municipal budget (due to municipal income per capita) and its institutional competencies (due to demographic reasons). In spite of the relevance of institutional determinants for public procurement, other factors play an important role such as human factors as well as both public policy and private intervention. The experience is a ‘city project’ (Bilbao) in the field of brownfield decontamination. Brownfield sites typically refer to abandoned or underused industrial and commercial properties—such as old process plants, mining sites, and landfills—that are available but contain low levels of environmental contaminants that may complicate reuse or redevelopment of the land. This article concludes that Innovation Public Procurement in sustainability and climate issues should be further developed both as a policy instrument and as a policy research line that could enable further relevant changes in public procurement as well as in climate innovation.

Keywords: innovation, city projects, public policy, public procurement

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Authors: Maria Tsouroufli, Andrea Mondokova, Subashini Suresh

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Background: The under-representation of women and consequent failure to fulfil their potential contribution to Science, Technology, Engineering, Maths, and Medicine (STEMM) subjects in the UK is an issue that the Higher Education sector is being encouraged to address. Focus: The aim of this research is to investigate the barriers, facilitators, and incentives that influence diverse groups of women who have embarked upon a related career in STEMM subjects. The project will address a number of interconnected research questions: 1. How do participants perceive the barriers, facilitators and incentives for women in terms of research, teaching and management/leadership at each stage of their development towards forging a career in STEMM? 2. How might gender intersect with ethnicity, pregnancy/maternity and academic grade in the career experiences of women in STEMM? 3. How do participants perceive the example of female role models in emulating them as a career model? 4. How do successful females in STEMM see themselves as role models and what strategies do they employ to promote their careers? 5. How does institutional culture manifest itself as a barrier or facilitator for women in STEMM subjects in the institution? Methodology and Theoretical framework: A mixed-methodology will be employed in a case study of one university. The study will draw on extant quantitative data for context and involve conducting a qualitative inquiry to discover the perceptions of staff and students around the key concepts under study (career progression, sense of belonging and tenure, role-models, personal satisfaction, perceived gender in/equality, institutional culture). The analysis will be informed by an intersectionality framework, feminist and gender theory, and organisational psychology and human resource management perspectives. Implications: Preliminary findings will be collected in 2017. Conclusions will be drawn and used to inform recruitment and retention, and the development and implementation of initiatives to enhance the experiences and outcomes of women working and studying in STEMM subjects in Higher Education.

Keywords: under-representation, women, STEMM subjects, intersectionality

Procedia PDF Downloads 263

Authors: Vesna Lukovic

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Online platforms as new business models play an important role in today’s economy and the functioning of the EU’s internal market. In the travel industry, algorithms used by online platforms for short-stay accommodation provide suggestions and price information to travelers. Those suggestions and recommendations are displayed in search results via recommendation (ranking) systems. There has been a growing consensus that the current legal framework was not sufficient to resolve problems arising from platform practices. In order to enhance the potential of the EU’s Single Market, smaller businesses should be protected, and their rights strengthened vis-à-vis large online platforms. The Regulation (EU) 2019/1150 of the European Parliament and of the Council on promoting fairness and transparency for business users of online intermediation services aims to level the playing field in that respect. This research looks at Airbnb through the lenses of this regulation. The research explores key determinants and finds that although regulation is an important step in the right direction, it is not enough. It does not entail sufficient clarity obligations that would make online platforms an intermediary service which both accommodation providers and travelers could use with ease.

Keywords: algorithm, online platforms, ranking, consumers, EU regulation

Procedia PDF Downloads 108

Authors: Bubaker F. Shareia

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The aim of this paper is to determine a general frame of the auditor's legal responsibilities in Libya which were implied in professional codes and rules, these codes and rules were concerned with the auditor's rights and duties in conducting his professional duties. This will provide a background for the Libyan accounting profession, and the challenges in tailoring Auditors to meet third party's needs. Being informed of the kinds of legal responsibilities which the external auditors could face during conducting their duties. The study is based on a literature review and archival research, reinforced by a qualitative case study comprised of interviews, questionnaire and a study of internal documents. To reach such an understanding, the researcher designed two questionnaires for collecting the data. One questionnaire was distributed among the certified public accountant firms in Libya and the second was distributed among a group of randomly selected lawyers and judges in the same country. Most auditors agreed upon the determination of their responsibilities toward the state and they emphasized that their responsibilities toward their clients were limited to the accepted standards of auditing. Moreover, all auditors who were surveyed emphasized that there has never been any juridical claims against them, and as a consequence they have never paid any legal fines. This study focuses on one country, which does limit its generalisability. However, it also suggests fruitful research areas in considering the impact and challenge of the historic factors in the accounting profession in emerging economies.

Keywords: accounting, external auditor, legal responsibilities, libyan accounting profession

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Authors: Nagarjuna Pitty

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Over the past decade there has been substantial progress in the usage of ePrints resources national and international research community. JRD Tata Memorial Library has hosting for the web based ePrints services and maintenance to online user community. This paper provides an overview how to share JRDTML experiences in using GNU EPrints.org software to create and maintain the open-access institutional repository of IISc, ePrints@IISc. This paper states that the GNU EPrints.org is the first generic software for creating Open Access Initiative (OAI)-compliant repositories, which enables the researchers to self-archive their research publications thus facilitating open access to their publications. IISc has been using this software since early 2002. This paper tells that the GNU EPrints.org software is an excellent tool for creating and maintaining OAI-compliant repositories. It can be setup easily even by those who are not too much experts in computer. In this paper, author is sharing JRDTML experiences in using GNU ePrints.org software.

Keywords: digital library, open access initiative, scholarly publications, institutional repository, ePrints@IISc

Procedia PDF Downloads 532

Authors: Michael A. Ifarajimi

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The transition from being a graduate teacher to a highly accomplished teacher has been widely portrayed in literature as challenging. Pre-service teachers are troubled with complex issues such as implementing, assessment, meeting prescribed learning outcomes, taking risks, supporting eco sustainability, etc. This list is not exhaustive as they are further complicated when the concerns extend beyond the classroom into the broader school setting and community. Meanwhile, the pre-service teacher education programme as is currently run in Nigeria, cannot adequately prepare newly trained teachers for the realities of classroom teaching. And there appears to be no formal structure in place for mentoring such teachers by the more seasoned teachers in schools. The central research question of the study, therefore, is which institutional framework can be distinguished for enactment in mentoring practices in teacher education? The study was conducted in five colleges of education in South-West Nigeria, and a sample of 1000 pre-service teachers on their final year practicum was randomly selected from the colleges of education. A pre-service teacher mentorship programme (PTMP) framework was designed and implemented, with a focus on the impact of transformative inquiry on the pre-service teacher support system. The study discovered a significant impact of mentoring on pre-service teacher’s professional transformation. The study concluded that institutionalizing mentorship through transformative inquiry is a means to sustainable teacher education, professional growth, and effective classroom practice. The study recommended that the government should enact policies that will promote mentoring in teacher education and establish a framework for the implementation of mentoring practices in the colleges of education in Nigeria.

Keywords: institutionalization, mentoring, pre-service teachers teacher education, transformative inquiry

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Authors: Gemala Dewi, Wirdyaningsih, Farida Prihatini

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The development of sharia business activities at present has solidified its societal mark and has crossed influence between several nations. In the practice, there may be disputes, breaches and other forms of conflict that occurred along the way. In the meantime, alternative settlements of disputes are utilized differently between nations in the context of their political, social, economic, legal and infrastructural (technology and transportation) scope. Besides the various conditions, there is a common driving factor, which is a consequence of the need for businesses to settle conflicts in an efficient and cost-efficient manner. This factor is paired symbiotically with the limitations of the court and legal processes. Knowing this, Indonesia and Egypt represent countries that have similar social, political, economic and legal conditions. This academic research establishes a normative analysis that looks and compares the rules that regulate the prospects and challenges in the regards of dispute settlements in reference to sharia economics in Indonesia and Egypt. This work recommends that sharia economics dispute settlement is significant to be incorporated in both Indonesian and Egyptian legal systems.

Keywords: sharia economics, dispute resolution, Indonesia, Egypt

Procedia PDF Downloads 298