Search results for: macroeconomic incentives

Authors: Mohammad E. Nikoofal, Mehmet Gumus

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Besides the many benefits of outsourcing, firms are still concerned about the lack of critical information regarding both the risk levels and actions of their suppliers that are just a few links away. In this paper, we study the effectiveness of audit for the manufacturer in managing her supplier’s process improvement effort when the supplier is privately informed about his disruption risk and actions. By comparing the agency costs associated with the optimal menu of contracts with and without audit, we completely characterize the value of audit for all the cases from the perspectives of both manufacturer, and supplier as well as total supply chain. First, the analysis of value of audit from the manufacturer’s perspective shows that she can strictly benefit from auditing her supplier’s actions. To the best of our knowledge, this result has not been documented before in the principal-agent literature under a standard setting where the agent is assumed to be risk-neutral and not protected by limited liability constraints. Second, we find that not only the manufacturer but also the supplier can strictly benefit from audit. Third, the audit enables the manufacturer to customize her contract offerings based on the reliability of the supplier. Finally, by analyzing the impact of problem parameters on the value of audit, we identify the conditions under which an audit would be beneficial for individual supply chain parties as well as total supply chain.

Keywords: supply disruption, adverse selection, moral hazard incentives, audit

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Authors: Azeez O. Ganiyu

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Climate change is expected to lead to substantial changes in rainfall patterns in southwest Nigeria, and this may have substantial consequence for forest management and for conservation outcomes throughout the region. We examine three different forest types across an environmental spectrum from semi-arid to humid subtropical and consider their response to water shortages and other environmental stresses; we also explore the potential consequence for conservation and timber production by considering impacts on forest structure and limiting stand density. Analysis of a series of scenarios provides the basis for a critique of existing management practices and suggests practical alternatives to develop resilient forests with minimal diminution of production and environmental services. We specifically discuss practical silviculture interventions that are feasible at the landscape-scale, that are economically viable, and that have the potential to enhance resilience of forest stands. We also discuss incentives to encourage adoption of these approaches by private forest owners. We draw on these case studies in southwestern Nigeria to offer generic principle to assist forest researchers and managers faced with similar challenges elsewhere.

Keywords: climate change, forest, future, silviculture, Nigeria

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Authors: Gabriele Iannotta

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This paper investigates credit cycles by means of an experiment based on a Kiyotaki & Moore (1997) model with heterogeneous expectations. The aim is to examine how a credit squeeze caused by high lender-level risk perceptions affects the real prices of a collateralised asset, with a special focus on the macroeconomic implications of rising price volatility in terms of total welfare and the number of bankruptcies that occur. To do that, a learning-to-forecast experiment (LtFE) has been run where participants are asked to predict the future price of land and then rewarded based on the accuracy of their forecasts. The setting includes one lender and five borrowers in each of the twelve sessions split between six control groups (G1) and six treatment groups (G2). The only difference is that while in G1 the lender always satisfies borrowers’ loan demand (bankruptcies permitting), in G2 he/she closes the entire credit market in case three or more bankruptcies occur in the previous round. Experimental results show that negative risk-driven supply shocks amplify the volatility of collateral prices. This uncertainty worsens the agents’ ability to predict the future value of land and, as a consequence, the number of defaults increases and the total welfare deteriorates.

Keywords: Behavioural Macroeconomics, Credit Cycle, Experimental Economics, Heterogeneous Expectations, Learning-to-Forecast Experiment

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Authors: O. M. van den Broek

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This article examines how large German companies have responded to the 2014 refugee crisis. It challenges the assumption that the historical legacy of implicit CSR in Germany would lead to low levels of business response through CSR channels. Instead, and building on institutional CSR and the converging forces of globalization, this article argues that the urgency of a humanitarian crisis creates incentives, in the absence of formal institutional arrangement, for explicit CSR responses. This explorative research encompasses the 53 German companies presented on 2015 Forbes2000. A qualitative content analysis of corporate websites was supplemented with inquiry e-mails. Results indicate considerable evidence for the main hypothesis, showing a vast majority of companies responding to the refugee crisis. Levels of engagement varied, depending on the phase of the crisis, from core-business activities to non-integrated action. The high level of partnerships with the state and other non-state actors indicates a quest for enhanced legitimacy in the face of an absent democratic mandate.

Keywords: corporate social responsibility (CSR), implicit versus explicit CSR, public-private partnerships, European refugee crisis

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Authors: May A. Massoud, R. Harissi

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The fundamental principle and overall goal of an Environmental Management System is the concept of continual improvement. The implementation of such a system reveals a commitment to compliance and sustainable development. This research project aims at identifying and evaluating the prospects and challenges facing the adoption of ISO 14001 standard in the higher education system of Lebanon. It examines the corresponding barriers, drivers and incentives associated with the implementation of the standard. For this purpose, primary data were collected using quantitative method. The results revealed a significant lack of knowledge and sense of responsibility towards ISO 14001 standard and environmental accountability. Improving educational and social responsibility, improving environmental performance and enhancing institution image are the most noticeable drivers to adopt ISO 14001. The main perceived barriers for acquiring the standard are unclear benefits of ISO 14001, the lack of government support and the fact that the standard is not seen as a priority by top management. Lebanese Higher Education institutions are far likely to consider ISO 14001 before having proper accreditation programs or until ISO 14001 become widely-known in the Lebanese economic sectors.

Keywords: ISO 14001, higher education institution, environmental management, system

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Authors: Eleanor L. Kutschera

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This study explores the possible impact that QR codes play in helping individuals make more sustainable choices regarding apparel consumption. Data was collected via an online survey to ascertain individuals’ knowledge, attitudes, and behaviors with regard to QR codes and how this impacts their decisions to purchase apparel. Results from 250 participants provide both qualitative and quantitative data that provide valuable information regarding consumers’ use of QR codes and more sustainable purchases. Specifically, results indicate that QR codes are currently under-utilized in the apparel industry but have the potential to generate more environmentally conscious purchases. Also, results posit that while the cost of the item is the most influential factor in purchasing sustainable garments, other factors such as how, where, and what it is made of are in the middle, along with the company’s story/inspiration for creation have an impact. Moreover, participants posit the use of QR codes could make them more informed and empowered consumers, and they would be more likely to make purchases that are better for the environment. Participants’ qualitative responses provide useful incentives that could increase their future sustainable purchases. Finally, this study touches on the study’s limitations, implications, and future direction of research.

Keywords: digital ID, QR codes, environmental consciousness, sustainability, fashion industry, apparel consumption

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Authors: Emmanuel Donkor

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Aim/Purpose – This paper examines the influence of construction workers wages and working conditions on productivity in Ghana. Design/methodology/Approach - The study adopted a quantitative research approach with purposive sampling techniques where data was collected using surveys. The data were analyzed using SPSS software version 20.0, which enables the findings of the study to be examined under thematic areas.Findings: - The study revealed that good wages and working condition of workers have a positive correlation on productivity in the construction industry. Increase and improved wages and working conditions can results in higher productivity in the construction industry.Originality/value - This paper is exceptional in the sense that, it does examine the influence of construction workers wages and working conditions on productivity in Ghana. Social value/implications - The paper concludes that workers’ wages and their conditions have a high influence on productivity. It is then recommended that government should train, educate, give good wages to workers and improve on their working condition, give incentives and reduce tax importation on building or construction materials to aid in good productivity of construction firms.

Keywords: construction firms, construction industry, productivity, workers’ wages, working conditions

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Authors: Kwame Kodua-Ntim

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The study explored the authors self-archiving to create awareness of open-access institutional repositories in universities. The qualitative approach of the study was informed by the interpretive paradigm as well as the case research design. The target population for the study was all twelve (12) open-access institutional repositories managers and administrators purposively selected from the five (5) universities in Ghana. The universities were chosen since they were the only ones listed in the Directory of Open Access Repositories. Interviews were conducted using a semi-structured interview guide and data were analyzed using thematic analysis. The study revealed that academics had some information about self-archiving in open-access institutional repositories and university libraries with open-access institutional repositories were using DSpace software. Managers and administrators of open-access institutional repositories mediated content uploaded and believed that author self-archiving could improve awareness of open-access institutional repositories. The study recommended that universities should fully implement the author’s self-archiving protocol, and academics should be trained to be able to upload research works onto open-access institutional repositories. Furthermore, the university and university library should provide rigorous policies on author self-archiving and incentives for author self-archiving in the open access institutional repositories.

Keywords: author, awareness, institutional repositories, open access, open archive, self-archiving

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Authors: Ilias A. Makris

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In this work, we attempt to associate firm characteristics with innovative activity. We collect microdata from listed firms of selected Eurozone Country-members, after the beginning of 2007 financial crisis. The following literature, several indicators of growth and performance were selected and tested for their ability to interpret innovative activity. The main scope is to examine the possible differences in performance and growth between innovative and non-innovative firms, during a severe recession. Additionally to that, a special focus will be held on whether macroeconomic performance and national innovation system, determines the extent of innovators' performance. Preliminary findings, through correlation matrices and non-parametric tests, strongly indicate the positive relation between innovative activity and most of the measures used (profitability, size, employment), confirming that even during a recessionary period, innovative firms not only survive but also seem to succeed better economic results in almost all indexes relative to non-innovative. However, even though innovators seem to perform better in all economies examined, the extent of that performance seems to be strongly affected by the supportive mechanisms (financial and structural) that their country provides. Thus, it is clear, that the technologically intensive 'gap' between European South and North, during the economic crisis, became chaotic, due to the harsh austerity measures and reduced budgets in those countries, even in sectors with high potentials in economic activity and employment, impairing the effects of crisis and enhancing the vicious circle of recession.

Keywords: eurozone, innovative activity, development, firm performance, non-parametric tests

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Authors: Panagiotis Kosmas

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The advent of new technologies in education inspires practitioners to approach teaching from a different angle with the aim to professionally develop and improve teaching practices. Online communities of practice among teachers seem to be a trend associated with the integration efforts for a modern and pioneering educational system and training program. This study attempted to explore the participation in online communities of practice and the sharing of knowledge between teachers with aims to explore teachers' incentives to participate in such a community of practice. The study aims to contribute to international research, bringing in global debate new concerns and issues related to the professional learning of current educators. One official online community was used as a case study for the purposes of research. The data collection was conducted from the content analysis of online portal, by questionnaire in 184 community members and interviews with ten active users of the portal. The findings revealed that sharing of knowledge is a key motivation of members of a community. Also, the active learning and community participation seem to be essential factors for the success of an online community of practice.

Keywords: communities of practice, teachers, sharing knowledge, professional development

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Authors: Ahmed Amrani, Oussama Allali, Amira Ben Hamida, Felix Defrance, Stephanie Morland, Eva Pineau, Thomas Lacroix

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The energy planning process is a very complex task that involves several stakeholders and requires the consideration of several local and global factors and constraints. In order to optimize and simplify this process, we propose a tool-based iterative approach applied to district heating planning. We build our tool with the collaboration of a French territory using actual district data and implementing the European incentives. We set up an iterative process including data visualization and analysis, identification and extraction of information related to the area concerned by the operation, design of sustainable planning scenarios leveraging local renewable and recoverable energy sources, and finally, the evaluation of scenarios. The last step is performed by a dynamic digital twin replica of the city. Territory’s energy experts confirm that the tool provides them with valuable support towards sustainable energy planning.

Keywords: climate change, data management, decision support, digital twin, district heating, energy planning, renewables, smart city

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Authors: Mustapha Achibane, Imane Allam

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Since the nineties, all Moroccan banking institutions have to respect an arsenal of prudential ratios. The respect of these prudential measures aims to ensure the financial system stability. In order to do so, regulatory authorities tried to reduce the financial and operational risks incurred by the banking entities. Meanwhile, regulatory authorities demanded a balance sheet management work from banks. They also asked them to establish a management control system to manage operational risk, as well as an effort in terms of incurred risk-based commitments. Therefore, the prudential approach has a macroeconomic nature and it is presented as a determinant of the operational, microeconomic approach. This operational approach takes the form of a strategy that each banking entity must develop to manage the different banking risks. This study seeks to analyze the problem of risk management between the prudential and the operational approaches. It was processed through a literature review followed by an analysis of the Moroccan banking sector’s performance. At first, we will reconcile the inductive logic and then, the analytical one. The first approach consists of analyzing the phenomenon from a normative and conceptual perspective, while the second one will consist of considering the Moroccan banking system and analyzing the behavior of Moroccan banking entities in terms of risk management and performance. The results identified a favorable growth in terms of performance, despite the huge provisioning effort made to meet the international standards and the harmonization of the regulations.

Keywords: banking performance, financial intermediation, operational approach, prudential standards, risk management

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Authors: Ruijie Fan, Hao Xu

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Due to the increasing demand for resources, solid waste disposal is becoming an increasingly important issue to be addressed. Solid waste is not only hazardous to human health but also has a negative impact on the environment. The main sources of solid waste are metals, glass, food, plastics, paper, and electrical waste. Different types of waste may require different treatments. The UK currently lags behind other countries, such as Japan and Germany, in terms of waste management. Although the UK is catching up through various incentives, waste management education in the UK still faces challenges. Education requires a lot of work before the UK can achieve a circular economy. This paper first presents the latest information on the five main types of solid waste in the UK today. It delves into the current state of waste paper management in the UK, in addition to gathering information from the literature on the current state of waste management education in the UK as a whole. Potential barriers to the disposal of each waste type in the UK are identified, along with potential barriers to education in the UK. This study was based on a pragmatic philosophy to find possible solutions for these barriers, including questionnaires to conduct an in-depth investigation. In addition, the questionnaire analysis reveals a correlation between educational attainment and individual waste management behaviour and attitudes. This research guides inspiration on the current problems of waste management in the UK.

Keywords: circular economy, education, solid waste, waste management

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Authors: Yuhong Niu, Na Li, Chunlin Jin, Hansheng Ding

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The study reviewed all types of patents applied by Shanghai health system to analyze how patent development in China from the year of 1990 to 2012. The study used quantitative and comparative analysis to investigate the change and trends of patent numbers, patent types, patent claims, forward citations, patent life, patent transactions, etc. Results reflected an obviously increased numbers of invention patents, applications, and authorizations and short-life patents, but the ratio of invention patents represented an up and down change. Forward citations and transactions ratio always kept at a low level. The results meant that the protection of intellectual property in the Shanghai health sector had made great progress and lots of positive changes due to incentive policies by local government. However, the low-quality patents, at the same time, increased rapidly. Thus, in the future, it is suggested that the quality management should be strengthened, and invents should be estimated before patent application. It is also suggested that the incentives for intellectual property should be optimized to promote the comprehensive improvement of patent quantity and quality.

Keywords: patent claims, forward citations, patent life, patent transactions ratio

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Authors: M. Moslehpour, S. Khorsandi

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As transition to widespread use of IPv6 addresses has gained momentum, it has been shown to be vulnerable to certain security attacks such as those targeting Neighbor Discovery Protocol (NDP) which provides the address resolution functionality in IPv6. To protect this protocol, Secure Neighbor Discovery (SEND) is introduced. This protocol uses Cryptographically Generated Address (CGA) and asymmetric cryptography as a defense against threats on integrity and identity of NDP. Although SEND protects NDP against attacks, it is computationally intensive due to Hash2 condition in CGA. To improve the CGA computation speed, we parallelized CGA generation process and used the available resources in a trusted network. Furthermore, we focused on the influence of the existence of malicious nodes on the overall load of un-malicious ones in the network. According to the evaluation results, malicious nodes have adverse impacts on the average CGA generation time and on the average number of tries. We utilized a Trust Management that is capable of detecting and isolating the malicious node to remove possible incentives for malicious behavior. We have demonstrated the effectiveness of the Trust Management System in detecting the malicious nodes and hence improving the overall system performance.

Keywords: CGA, ICMPv6, IPv6, malicious node, modifier, NDP, overall load, SEND, trust management

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Authors: Alkhathlan Mansour

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Current research aims at achieving the organizational development in the educational institutions in the governorate of Al-Kharj through the human performance technology (HPT) model that is named; “The Intellectual Model to improve human performance”. To achieve the goal of this research, it tools -that it is consisting of targeted questionnaires to research sample numbered (120)- have been set up. This sample is represented in; department managers in Prince Sattam Bin Abdulaziz University (50), educational supervisors in the Department of Education (40), school administrators in the governorate (30), and the views of education experts through personal interviews in the proposal to achieve organizational development through the intellectual model to improve human performance. Among the most important research results is that there are many obstacles prevent the organizational development in the educational institutions, so the research suggested a model to achieve organizational development through human performance technologies, as well as the researcher recommended through the results of his research that the administrators have to take into account the justice in the distribution of incentives to employees of educational institutions and training leaders in educational institutions on organizational development strategies and working on the preparation of experts of organizational development in the educational institutions to develop the necessary policies and procedures of each institution.

Keywords: human performance, development, education, organizational

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Authors: Farouk Shehu Abdulwahab

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The concept of farmer-farmer knowledge sharing was introduced to bridge the extension worker-farmer ratio gap in developing countries. However, the idea was poorly accepted, especially in typical agrarian communities. Therefore, the study explores the concept of a farmer-to-farmer knowledge-sharing network to enhance extension service delivery. The study collected data from 80 farmers randomly selected through a series of multiple stages. The Data was analysed using a 5-point Likert scale and descriptive statistics. The Likert scale results revealed that 62.5% of the farmers are satisfied with farmer-to-farmer knowledge-sharing networks. Moreover, descriptive statistics show that lack of capacity building and low level of education are the most significant problems affecting farmer-farmer sharing networks. The major implication of these findings is that the concept of farmer-farmer knowledge-sharing networks can work better for farmers in developing countries as it was perceived by them as a reliable alternative for information sharing. Therefore, the study recommends introducing incentives into the concept of farmer-farmer knowledge-sharing networks and enhancing the capabilities of farmers who are opinion leaders in the farmer-farmer concept of knowledge-sharing to make it more sustainable.

Keywords: agricultural productivity, extension, farmer-to-farmer, livelihood, technology transfer

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Authors: Tristance Kee

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With the unprecedented increase in elderly population globally, it is critical to search for new sustainable housing and urban development alternatives to traditional housing options. This research examines concepts of elderly migration pattern in the context of a high density city in Hong Kong to Mainland China. The research objectives are to: 1) explore the relationships between soon-to-be-old elderly and their intentions to move to Mainland upon retirement and their demographic characteristics; and 2) What are the desired amenities, locational factors and activities that are expected in the soon-to-be-old generation’s retirement housing environment? Primary data was collected through questionnaire survey conducted using random sampling method with respondents aged between 45-64 years old. The face-to-face survey was completed by 500 respondents. The survey was divided into four sections. The first section focused on respondent’s demographic information such as gender, age, education attainment, monthly income, housing tenure type and their visits to Mainland China. The second section focused on their retirement plans in terms of intended retirement age, prospective retirement funding and retirement housing options. The third section focused on the respondent’s attitudes toward retiring in Mainland for housing. It asked about their intentions to migrate retire into Mainland and incentives to retire in Hong Kong. The fourth section focused on respondent’s ideal housing environment including preferred housing amenities, desired living environment and retirement activities. The dependent variable in this study was ‘respondent’s consideration to move to Mainland China upon retirement’. Eight primary independent variables were integrated into the study to identify the correlations between them and retirement migration plan. The independent variables include: gender, age, marital status, monthly income, present housing tenure type, property ownership in Hong Kong, relationship with Mainland and the frequency of visiting Mainland China. In addition to the above independent variables, respondents were asked to indicate their retirement plans (retirement age, funding sources and retirement housing options), incentives to migrate to retire (choices included: property ownership, family relations, cost of living, living environment, medical facilities, government welfare benefits, etc.), perceived ideal retirement life qualities including desired amenities (sports, medical and leisure facilities etc.), desired locational qualities (green open space, convenient transport options and accessibility to urban settings etc.) and desired retirement activities (home-based leisure, elderly friendly sports, cultural activities, child care, social activities, etc.). The finding shows correlations between the used independent variables and consideration to migrate for housing options. The two independent variables indicated a possible correlation were gender and the frequency of visiting Mainland at present. When considering the increasing property prices across the border and strong social relationships, potential retirement migration is a very subjective decision that could vary from person to person. This research adds knowledge to housing research and migration study. Although the research is based in Mainland, most of the characteristics identified including better medical services, government welfare and sound urban amenities are shared qualities for all sustainable urban development and housing strategies.

Keywords: elderly migration, housing alternative, soon-to-be-old, sustainable environment

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Authors: Priyal Motwani, Garvit Goel

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In this study, we have studied and analysed the transaction data of investors of a mutual fund investment company based in India. Based on the data available, we have identified the top four biases that affect the investors of the emerging market economies through regression analysis and three uniquely defined ratios. We found that the four most prominent biases that affected the investment making decisions in India are– Chauffer Knowledge, investors tend to make ambitious decisions about sectors they know little about; Bandwagon effect – the response of the market indices to macroeconomic events are more profound and seem to last longer compared to western markets; base-rate neglect – judgement about stocks are too much based on the most recent development ignoring the long-term fundamentals of the stock; availability bias – lack of proper communication channels of market information lead people to be too reliant on limited information they already have. After segregating the investors into six groups, the results have further been studied to identify a correlation among the demographics, gender and unique cultural identity of the derived groups and the corresponding prevalent biases. On the basis of the results obtained from the derived groups, our study recommends six methods, specific to each group, to educate the investors about the prevalent biases and their role in investment decision making.

Keywords: Bandwagon effect, behavioural biases, Chauffeur knowledge, demographics, investor literacy, mutual funds

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Authors: Muhammad Ajmair

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This empirical study followed structural vector auto regression (SVAR) approach proposed by the so-called AB-model of Amisano and Giannini (1997) to check the impact of relevant macroeconomic determinants on economic growth in Pakistan. Before that auto regressive distributive lag (ARDL) bound testing technique and time varying parametric approach along with general to specific approach was employed to find out relevant significant determinants of economic growth. To our best knowledge, no author made such a study that employed auto regressive distributive lag (ARDL) bound testing and time varying parametric approach with general to specific approach in empirical literature, but current study will bridge this gap. Annual data was taken from World Development Indicators (2014) during period 1976-2014. The widely-used Schwarz information criterion and Akaike information criterion were considered for the lag length in each estimated equation. Main findings of the study are that remittances received, gross national expenditures and inflation are found to be the best relevant positive and significant determinants of economic growth. Based on these empirical findings, we conclude that government should focus on overall economic growth augmenting factors while formulating any policy relevant to the concerned sector.

Keywords: economic growth, gross national expenditures, inflation, remittances

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Authors: M. Koray Cetin, Mehmet Mert

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The purpose of the study is to examine impacts on tourism revenues of the exchange rate and country overall security level. There are numerous studies that examine the bidirectional relation between macroeconomic factors and tourism revenues and tourism demand. Most of the studies support the existence of impact of tourism revenues on growth rate but not vice versa. Few studies examine the impact of factors like real exchange rate or purchasing power parity on the tourism revenues. In this context, firstly impact of real exchange rate on tourism revenues examination is aimed. Because exchange rate is one of the main determinants of international tourism services price in guests currency unit. Another determinant of tourism demand for a country is country’s overall security level. This issue can be handled in the context of the relationship between tourism revenues and overall security including turmoil, terrorism, border problem, political violence. In this study, factors are handled for several countries which have tourism revenues on a certain level. With this structure, it is a panel data, and it is evaluated with panel data analysis techniques. Panel data have at least two dimensions, and one of them is time dimensions. The panel data analysis techniques are applied to data gathered from Worldbank data web page. In this study, it is expected to find impacts of real exchange rate and security factors on tourism revenues for the countries that have noteworthy tourism revenues.

Keywords: exchange rate, panel data analysis, security, tourism revenues

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Authors: Aisling Gough, Ruth F. Hunter, Jianjun Tang, Sarah F. Brennan, Oliver Smith, Mark A. Tully, Chris Patterson, Alberto Longo, George Hutchinson, Lindsay Prior, David French, Jean Adams, Emma McIntosh, Frank Kee

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Background: As a large proportion of the UK workforce is employed in sedentary occupations, worksite interventions have the potential to contribute significantly to the health of the population. The UK Government is currently encouraging the use of financial incentives to promote healthier lifestyles but there is a dearth of evidence regarding the effectiveness and sustainability of incentive schemes to promote physical activity in the workplace. Methods: A large cluster RCT is currently underway, incorporating nested behavioural economic field experiments and process evaluation, to evaluate the effectiveness of a Physical Activity Loyalty Scheme. Office-based employees were recruited from large public sector organisations in Lisburn and Belfast (Northern Ireland) and randomised to an Intervention or Control group. Participants in the Intervention Group were encouraged to take part in 150 minutes of physical activity per week through provision of financial incentives (retailer vouchers) to those who met physical activity targets throughout the course of the 6 month intervention. Minutes of physical activity were monitored when participants passed by sensors (holding a keyfob) placed along main walking routes, parks and public transport stops nearby their workplace. Participants in the Control Group will complete the same outcome assessments (waiting-list control). The primary outcome is steps per day measured via pedometers (7 days). Secondary outcomes include health and wellbeing (Short Form-8, EuroQol-5D-5L, Warwick Edinburgh Mental Well Being Scale), and work absenteeism and presenteeism. Data will be collected at baseline, 6, 12 and 18 months. Information on PAL card & website usage, voucher downloads and redemption of vouchers will also be collected as part of a comprehensive process evaluation. Results: In total, 853 participants have been recruited from 9 workplaces in Lisburn, 12 buildings within the Stormont Estate, Queen’s University Belfast and Belfast City Hospital. Participants have been randomised to intervention and control groups. Baseline and 6-month data for the Physical Activity Loyalty Scheme has been collected. Findings regarding the effectiveness of the intervention from the 6-month follow-up data will be presented. Discussion: This study will address the gap in knowledge regarding the effectiveness and cost-effectiveness of a workplace-based financial incentive scheme to promote a healthier lifestyle. As the UK workforce is increasingly sedentary, workplace-based physical activity interventions have significant potential in terms of encouraging employees to partake in physical activity during the working day which could lead to substantial improvements in physical activity levels overall. Implications: If a workplace based physical activity intervention such as this proves to be both effective and cost-effective, there is great potential to contribute significantly to the health and wellbeing of the workforce in the future. Workplace-based physical activity interventions have the potential to improve the physical and mental health of employees which may in turn lead to economic benefits for the employer, such as reduction in rates of absenteeism and increased productivity.

Keywords: behaviour change, cluster randomised controlled trial, loyalty scheme, physical activity

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Authors: Jorge A. Schiavon

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This article analyzes the international relations of sub-State governments (IRSSG) in Mexico. It aims to answer five questions: 1) What explains the recent and dramatic increase in their international activities? 2) What is the impact of federalism on the foreign affairs of the federal units? 3) What are the levels or degrees of IRSSG and how have they changed over the last years? 4) How do Mexican federal units institutionalize their international activities? 5) What are the perceptions and capacities of the federal units in their internationalization process? The first section argues that the growth in the IRSSG is generated by growing interdependence and globalization in the international system, and democratization, decentralization and structural reform in the national arena. The second section sustains that the renewed Mexican federalism has generated the incentives for SSG to participate more intensively in international affairs. The third section defends that there is a wide variation in their degree of international participation, which is measured in three moments in time (2004 2009 and 2014), and explains how this activity has changed in the last decade. The fourth section studies the institutionalization of the IRSSG in Mexico through the analysis of Inter-Institutional Agreements (IIA). Finally, the last section concentrates in explaining the perceptions and capacities of Mexican sub-State governments to conduct international relations.

Keywords: federalism, foreign policy, international relations of sub-state governments, paradiplomacy, Mexico

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Authors: R. Ramesh, K. K. Shivaraman

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The main aim of this paper is to handle the energy requirement in an efficient manner by merging the advanced digital communication and control technologies for smart grid applications. In order to reduce user home load during peak load hours, utility applies several incentives such as real-time pricing, time of use, demand response for residential customer through smart meter. However, this method provides inconvenience in the sense that user needs to respond manually to prices that vary in real time. To overcome these inconvenience, this paper proposes a convolutional neural network (CNN) with k-means clustering machine learning model which have ability to forecast energy requirement in short term, i.e., hour of the day or day of the week. By integrating our proposed technique with home energy management based on Bluetooth low energy provides predicted value to user for scheduling appliance in advanced. This paper describes detail about CNN configuration and k-means clustering algorithm for short-term energy forecasting.

Keywords: convolutional neural network, fuzzy logic, k-means clustering approach, smart home energy management

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Authors: Robin Becker, Maike Eilers, Nane Roetmann, Manfred Helmus

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The shortage of junior staff in the construction industry is a problem that will be further exacerbated in the coming years by the retirement of the baby-boom generations (1955-1969) from employment. In addition, the current working conditions in the field of construction management are not attractive for young professionals. A survey of students revealed a desire for an increase in flexibility and an improved work-life balance in everyday working life. Students of civil engineering and architecture are basically interested in a career in construction management but have reservations due to the image of the profession and the current working conditions. A survey among experts from the construction industry shows that the profession can become more attractive. This report provides recommendations for action in the form of working modules to improve the working conditions of employees. If these are taken into account, graduates can be attracted to the profession of construction management, and existing staff can be retained more effectively. The aim of this report is to show incentives for employers to respond to the wishes and needs of their current and future employees to the extent that can be implemented.

Keywords: modern construction management, construction industry, work modules, shortage of junior staff, sustainable personnel management, making construction management more attractive, working time model

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Authors: Fatma Ismailia, Malek Saihi

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

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

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Authors: B. M. Arthur-Aidoo, C. O. Aigbavboa, W. D. Thwala

Abstract:

The performance of construction employees cannot be underestimated if the success of construction projects are to be achieved. This is because the construction industry has been characterised as labour oriented sector, which most of its activities being executed by labour. In the construction sector, employees are driven by incentive schemes which perform encourage and motivate workers for higher efficiency and higher output. The construction sector, however, depends mainly on its labour. In view of the sector's high dependency on its employees, that there must be a significant incentive scheme which must be established to act as a stimulus to drive high performance from employees among the various known incentive packages. This study, therefore, seeks to appraise the incentive packages adopted by construction SMEs. To establish reliable findings that will contribute to knowledge, the study utilised an exploratory approach via semi-structured interviews among sampled construction professionals with the requisite expertise on employees' incentive schemes. The study further established that although incentive schemes are classified in various ways and mediums that act as stimuli to encourage high performance among employees, some are more influential and impacts performance than others. Additionally, the study concludes that medical allowance, holiday with pay, free working tools, and training for employees were ranked the most influential incentives that promote high outputs by workers within the construction SME sector.

Keywords: appraisal, construction, employees, incentive, small and medium-sized enterprises, SMEs

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Authors: Libena Cernohorska, Barbora Sutorova, Petr Teply

Abstract:

There are pending discussions over an impact of global regulatory efforts on banks. In this paper we present a literature review on the profitability-risk-capital relationship in banking. Research papers dealing with this topic can be divided into two groups: the first group focusing on a capital-risk relationship and the second group analyzing a capital-profitability relationship. The first group investigates whether the imposition of stricter capital requirements reduces risk-taking incentives of banks based on a simultaneous equations model. Their model pioneered the idea that the changes in both capital and risk have endogenous and exogenous components. The results obtained by the authors indicate that changes in the capital level are positively related to the changes in asset risk. The second group of the literature concentrating solely on the relationship between the level of held capital and bank profitability is limited. Nevertheless, there are a lot of studies dealing with the banks’ profitability as such, where bank capital is very often included as an explanatory variable. Based on the literature review of dozens of relevant papers in this study, an empirical research on banks’ profitability and risk adjustment decisions under new banking rules Basel III rules can be easily undertaken.

Keywords: bank, Basel III, capital, decision making, profitability, risk, simultaneous equations model

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Authors: Thamo Sutharssan, Diogo Montalvao, Wen-Chung Wang, Yong Chen, Claudia Pisac

Abstract:

A combined heat and power (CHP) system is an efficient and clean way to generate power (electricity). Heat produced by the CHP system can be used for water and space heating. The CHP system which uses hydrogen as fuel produces zero carbon emission. Its’ efficiency can reach more than 80% whereas that of a traditional power station can only reach up to 50% because much of the thermal energy is wasted. The other advantages of CHP systems include that they can decentralize energy generation, improve energy security and sustainability, and significantly reduce the energy cost to the users. This paper presents the economic benefits of using a CHP system in the domestic environment. For this analysis, natural gas is considered as potential fuel as the hydrogen fuel cell based CHP systems are rarely used. UK government incentives for CHP systems are also considered as the added benefit. Results show that CHP requires a significant initial investment in return it can reduce the annual energy bill significantly. Results show that an investment may be paid back in 7 years. After the back period, CHP can run for about 3 years as most of the CHP manufacturers provide 10-year warranty.

Keywords: combined heat and power, clean energy, hydrogen fuel cell, economic analysis of CHP, zero emission

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Authors: Amir Ikram, Faisal Ijaz, Qin Su

Abstract:

The empirical study was undertaken to explore the determinants of non-performing loans (NPLs) of small and medium enterprises (SMEs) sector held by the commercial banks. Primary data was collected through well-structured survey questionnaire from credit analysts/bankers of 42 branches of 9 commercial banks, operating in the district of Lahore (Pakistan), for 2014-2015. Selective descriptive analysis and Pearson chi-square technique were used to illustrate and evaluate the significance of different variables affecting NPLs. Branch age, duration of the loan, and credit policy were found to be significant determinants of NPLs. The study proposes that bank-specific and SME-specific microeconomic variables directly influence NPLs, while macroeconomic factors act as intermediary variables. Framework exhibiting causal nexus of NPLs was also drawn on the basis of empirical findings. The results elaborate various origins of NPLs and suggest that they are primarily instigated by the loan sanctioning procedure of the financial institution. The paper also underlines the risk management practices adopted by the bank at branch level to averse the risk of loan default. Empirical investigation of bank-specific microeconomic factors of NPLs with respect to Pakistan’s economy is the novelty of the study. Broader strategic policy implications are provided for credit analysts and entrepreneurs.

Keywords: commercial banks, microeconomic factors, non-performing loans, small and medium enterprises

Procedia PDF Downloads 230