Search results for: payment mechanism

Authors: YangHui

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Foreign teachers play an important role in the process of internationalization of higher education in China. Based on the method of literature analysis, firstly study the contents about the mechanism of the foreign teachers’ administration in our country, then secondly analyze the main barriers of the foreign teacher’s administration mechanism. Finally, it is suggested that the international exchange department in universities should constantly improve the employment mechanism, training mechanism, appraisal mechanism and incentive mechanism to promote the internationalization of higher education.

Keywords: internationalization of higher education, mechanism, administration of foreign teachers, colleges and universities, China

Procedia PDF Downloads 444

Authors: Yash Goyal, Manish Korde, Juned Siddiqui

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Today online education has gained more popularity so that people can easily complete their curriculum on their own time. Virtual learning has been widely used by many educators, especially in higher education institutions due to its benefits to students and faculty. A good knowledge of teaching theory and instructional design systems is required to experience meaningful learning. However, most educational websites are not designed to adapt to all screen sizes. Making the website accessible on all screen sizes is our main objective, so we have created a website that is readily accessible across all screen sizes and accepts all types of payment methods. And we see generally educational websites interface is simple and unexciting. So, we have made a user interface attractive and user friendly. It is not enough for a website to be user-friendly, but also to be familiar to admins and to reduce the workload of the admin as well. We visited so many popular websites under development that they all had issues like responsiveness, simple interface, security measures, payment methods, etc. To overcome this limitation, we have created a website which has taken care of security issues that is why we have created only one admin id and it can be control from that only. And if the user has successfully done the payment, then the admin can send him a username and password through mail individually so there will no fraud in the payment of the course.

Keywords: responsive, accessible, attractive, interface, objective, security.

Procedia PDF Downloads 70

Authors: Mohamed Amine Ben Abdallah, Imed Khemili, Nizar Aifaoui

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This work denotes an insight into dynamic synthesis of multibody systems. A set of mechanism parameters design variable are synthetized based on a desired mechanism response, such as, velocity, acceleration and bodies deformations. Moreover, knowing the work space, for a robot, and mechanism response allow defining optimal parameters mechanism handling with the desired target response. To this end, evolutionary genetic algorithm has been deployed. A demonstrative example for imperfect mechanism has been treated, mainly, a slider crank mechanism with a flexible connecting rod. The transversal deflection of the connecting rod has been chosen as response to identify the mechanism design parameters.

Keywords: dynamic response, evolutionary genetic algorithm, flexible bodies, optimization

Procedia PDF Downloads 288

Authors: Marko Niinimaki

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Cryptocurrencies are getting increasingly popular, but very few of them can be conveniently used in daily mobile phone purchases. To solve this problem, we demonstrate how to build a functional prototype of a mobile cryptocurrency-based e-commerce application the communicates with Near-Field Communication (NFC) tags. Using the system, users are able to purchase physical items with an NFC tag that contains an e-commerce URL. The payment is done simply by touching the tag with a mobile device and accepting the payment. Our method is constructive: we describe the design and technologies used in the implementation and evaluate the security and performance of the solution. Our main finding is that the analysis and measurements show that our solution is feasible for e-commerce.

Keywords: cryptocurrency, e-commerce, NFC, mobile devices

Procedia PDF Downloads 149

Authors: Helen S. Ghali, Engy Serag, A. Samer Ezeldin

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In many countries, the construction industry relies heavily on outsourcing models in executing their projects and expanding their businesses to fit in the diverse market. Such extensive integration of subcontractors is becoming an influential factor in contractor’s cash flow management. Accordingly, subcontractors’ financial terms are important phenomena and pivotal components for the well-being of the contractor’s cash flow. The aim of this research is to study the contractor’s cash flow with respect to the owner and subcontractor’s payment management plans, considering variable advance payment, payment frequency, and lag and retention policies. The model is developed to provide contractors with a decision support tool that can assist in selecting the optimum subcontracting plan to minimize the contractor’s financing limits and optimize the profit values. The model is built using Microsoft Excel VBA coding, and the genetic algorithm is utilized as the optimization tool. Three objective functions are investigated, which are minimizing the highest negative overdraft value, minimizing the net present worth of overdraft, and maximizing the project net profit. The model is validated on a full-scale project which includes both self-performed and subcontracted work packages. The results show potential outputs in optimizing the contractor’s negative cash flow values and, in the meantime, assisting contractors in selecting suitable subcontractors to achieve the objective function.

Keywords: cash flow optimization, payment plan, procurement management, subcontracting plan

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Authors: Shaukat Ali, Kanber Sedef, Mustafa Yilmaz

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This work analyzes a finger mechanism for a prosthetic hand that will help in improving the living standards of people who have lost their hands for a variety of reasons. The finger mechanism is single degree of freedom and hence has advantages such as compact size, reduced mass and less energy consumption. The proposed finger mechanism is a six bar linkage actuated by a single motor. The kinematic, static and dynamic analyses have been done by using the conventional methods of mechanism analysis. The kinematic results present the motion of the proposed finger mechanism and location of the fingertip. The static and dynamic analyses provide the useful information about the gripping force at the fingertip for various configurations and the selection of motor that will move the finger over its range of configuration. This single motor finger mechanism is simple and resembles the human finger’s motion suitable for grasping operation. This study can be used in the optimization of geometrical parameters of the proposed mechanism to obtain the desired configurations with minimum torque and enhanced griping.

Keywords: dynamics, finger mechanism, grasping, kinematics

Procedia PDF Downloads 325

Authors: Jing Jiang, Yuguang Gao, Yang Yu

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Facing increasingly challenging insurance payment pressures, the Chinese healthcare system is undergoing significant transformations, akin to the implementation of DRG payment models by the United States' Medicare. Consequently, there is a pressing need for Chinese hospitals to establish optimizations in departmental operations tailored to the ongoing healthcare payment reforms. This abstract delineates the meticulous construction of a scientifically rigorous and comprehensive index system at the departmental level in China strategically aligned with the evolving landscape of healthcare payment reforms. Methodologically, it integrates key process areas and maturity assessment theories, synthesizing relevant literature and industry standards to construct a robust framework and indicator pool. Employing the Delphi method, consultations with 21 experts were conducted, revealing a collective demonstration of high enthusiasm, authority, and coordination in designing the index system. The resulting model comprises four primary indicators -technical capabilities, cost-effectiveness, operational efficiency, and disciplinary potential- supported by 14 secondary indicators and 23 tertiary indicators with varied coefficient adjustment for department types (platform or surgical). The application of this evaluation system in a Chinese hospital within the northeastern region yielded results aligning seamlessly with the actual operational scenario. In conclusion, the index system comprehensively considers the integrity and effectiveness of structural, process, and outcome indicators and stands as a comprehensive reflection of the collective expertise of the engaged experts, manifesting in a model designed to elevate the operational management of hospital departments. Its strategic alignment with healthcare payment reforms holds practical significance in guiding departmental development positioning, brand cultivation, and talent development.

Keywords: Chinese healthcare system, Delphi method, departmental management, evaluation indicators, hospital operations, weight coefficients

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Authors: A. Šapkauskienė, A. Mačerinskienė, R. Andrulienė, R. Bruzgė, S. Masteika, K. Driaunys

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The COVID-19 pandemic has affected not only world markets and economies but also the daily lives of customers and their payment habits. The pandemic has accelerated the digital transformation, so the role of technology will become even more important post-COVID. Although the popularity of cryptocurrencies has reached unprecedented heights, there are still obstacles, such as a lack of consumer experience and distrust of these technologies, so exploring the role of cryptocurrency and blockchain in the context of international travel becomes extremely important. Research on tourists’ intentions to use cryptocurrencies for payment purposes is limited due to the small number of research studies. To fill this research gap, an exploratory study based on the analysis of survey data was conducted. The purpose of the research is to explore how the behavior of tourists has changed making their financial transactions when paying for the tourism services in order to determine the intention to pay in cryptocurrencies. Behavioral intention can be examined as a dependent variable that is useful for the study of the acceptance of blockchain as cutting-edge technology. Therefore, this study examines the intention of travelers to use cryptocurrencies in electronic payments for tourism services. Several studies have shown that the intention to accept payments in a cryptocurrency is affected by the perceived usefulness of these payments and the perceived ease of use. The findings deepen our understanding of the readiness of service users to apply for blockchain-based payment in the tourism sector. The tourism industry has to focus not only on the technology but on consumers who can use cryptocurrencies, creating new possibilities and increasing business competitiveness. Based on research results, suggestions are made to guide future research on the use of cryptocurrencies by tourists in the tourism industry. Therefore, in line with the rapid expansion of virtual currency users, market capitalization, and payment in cryptographic currencies, it is necessary to explore the possibilities of implementing a blockchain-based system aiming to promote the use of services in the tourism sector as the most affected by the pandemic.

Keywords: behavioral intention, blockchain-based payment, cryptocurrency, tourism

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Authors: Bengi Demirci

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Out-of-pocket payments have become one of the common models adopted by health care reforms all over the world, and they have serious implications for not only the financial set-up of the health care systems in question but also for the people involved in terms of their access to the health care services provided. On the one hand, out-of-pocket payments are used in raising resources for the finance of the health care system and in decreasing non-essential health care expenses by having a deterrent role on the patients. On the other hand, out-of-pocket payment model causes regressive distribution effect by putting more burdens on the lower income groups and making them refrain from using health care services. Being a relatively incipient country having adopted the out-of-pocket payment model within the context of its Health Transformation Program which has been ongoing since the early 2000s, Turkey provides a good case for re-evaluating the pros and cons of this model in order not to sacrifice equality in access to health care for raising revenue for health care finance and vice versa. Therefore this study aims at analyzing the impact of out-of-pocket payments on the health finance system itself and on the patients’ access to healthcare services in Turkey where out-of-pocket payment model has been in use for a while. In so doing, data showing the revenue obtained from out-of-pocket payments and their share in health care finance are analyzed. In addition to this, data showing the change in the amount of expenditure made by patients on health care services after the adoption of out-of-pocket payments and the change in the use of various health care services in the meanwhile are examined. It is important for the incipient countries like Turkey to be careful in striking the right balance between the objective of cost efficiency and that of equality in accessing health care services while adopting the out-of-pocket payment model.

Keywords: health care access, health care finance, health reform, out-of-pocket payments

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Authors: Yaser Miaji, Mohammed Aloryani

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The rise of recent applications in everyday implementation like videoconferencing, online recreation and voice speech communication leads to pressing the need for novel mechanism and policy to serve this steep improvement within the application itself and users‟ wants. This diversity in web traffics needs some classification and prioritization of the traffics since some traffics merit abundant attention with less delay and loss, than others. This research is intended to reinforce the mechanism by analysing the performance in application according to the proposed mechanism implemented. The mechanism used is quite direct and analytical. The mechanism is implemented by modifying the queue limit in the algorithm.

Keywords: traffic classification, IPv6, internet, application categorization

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Authors: Ossama Al-Maliki

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Europay, MasterCard, and Visa (EMV) is one of the most popular payment protocol in the world. The EMV protocol supports Chip and PIN Transactions, Chip and Signature transactions, and Contactless transactions. This protocol suffers from tens of £ millions of lost per year due to many fraudulent payments. This is due to several reported vulnerable points in the protocols used for such payments that allow skimming, replay, cloning, Mole Point of Sale (POS), relay, and other attacks to be conducted. In this paper, we are focusing on the EMV contactless specification and we have proposed two proposal solutions to the addition of a localization factor to enhance the payment authentication of such transactions designed to prevent relay, cloning, and Mole-POS attacks. Our proposed solution is a back-end localization scheme to help the Issuer-Bank compare the location of the genuine cardholder in relation to the used POS. Our scheme uses 'something you have' which is the Cardholder Smartphone (CSP) to provide the location of the cardholder at the time of the transaction and without impacting the contactless payment time/protocol. The Issuer-bank obtain the CSP Location using tried and tested localization techniques, and independently of the cardholder. Both of our proposal solutions do not require infrastructure changes, and it uses existing EMV/SP protocol messages to communicate our scheme information.

Keywords: NFC, RFID, contactless card, authentication, location, EMV

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Authors: Nino Pailodze, Malkhaz Sulashvili, Vladimer Kekenadze, Tea Khutsishvili, Irma Makharashvili, Aleksandre Kekenadze

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In the nearest future among the important problems which Georgia has solve the most important is economic stability, that bases on fiscal policy and the proper definition of the its directions. The main source of the Budget revenue is the national income. The State uses taxes, loans and emission in order to create national income, were the principal weapon are taxes. As well as fiscal function of the fulfillment of the budget, tax systems successfully implement economic and social development and the regulatory functions of foreign economic relations. A tax is a mandatory, unconditional monetary payment to the budget made by a taxpayer in accordance with this Code, based on the necessary, nonequivalent and gratuitous character of the payment. Taxes shall be national and local. National taxes shall be the taxes provided for under this Code, the payment of which is mandatory across the whole territory of Georgia. Local taxes shall be the taxes provided for under this Code, introduced by normative acts of local self-government representative authorities (within marginal rates), the payment of which is mandatory within the territory of the relevant self-governing unit. National taxes have the leading role in tax systems, but also the local taxes have an importance role in tax systems. Exactly in the means of local taxes, the most part of the budget is formatted. National taxes shall be: income tax, profit tax, value added tax (VAT), excise tax, import duty, property tax shall be a local tax The property tax is one of the significant taxes in Georgia. The paper deals with the taxation mechanism that has been operated in Georgia. The above mention has the great influence in financial accounting. While comparing foreign legislation towards Georgian legislation we discuss the opportunity of using their experience. Also, we suggested recommendations in order to improve the tax system in financial accounting. In addition to accounting, which is regulated according the International Accounting Standards we have tax accounting, which is regulated by the Tax Code, various legal orders / regulations of the Minister of Finance. The rules are controlled by the tax authority, Revenue Service. The tax burden from the tax values are directly related to expenditures of the state from the emergence of the first day. Fiscal policy of the state is as well as expenditure of the state and decisions of taxation. In order to get the best and the most effective mobilization of funds, Government’s primary task is to decide the kind of taxation rules. Tax function is to reveal the substance of the act. Taxes have the following functions: distribution or the fiscal function; Control and regulatory functions. Foreign tax systems evolved in the different economic, political and social conditions influence. The tax systems differ greatly from each other: taxes, their structure, typing means, rates, the different levels of fiscal authority, the tax base, the tax sphere of action, the tax breaks.

Keywords: international accounting standards, financial accounting, tax systems, financial obligations

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Authors: Shari S. C. Shang, Lynn S. L. Chiu

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In the digital payment market, some consumers use only one payment wallet while many others play multi-homing with a variety of payment services. With the diffusion of new payment systems, we examined the determinants of the adoption of multi-homing behavior. This study aims to understand how a digital payment provider dynamically expands business touch points with cross-business strategies to enrich the digital ecosystem and avoid the trap of multi-homing in customers. By synthesizing platform ecosystem literature, we constructed a two-dimensional research framework with one determinant of user digital behavior from offline to online intentions and the other determinant of digital payment touch points from convenient accessibility to cross-business platforms. To explore on a broader scale, we selected 12 digital payments from 5 countries of UK, US, Japan, Korea, and Taiwan. With the interplays of user digital behaviors and payment touch points, we group the study cases into four types: (1) Channel Initiated: users originated from retailers with high access to in-store shopping with face-to-face guidance for payment adoption. Providers offer rewards for customer loyalty and secure the retailer’s efficient cash flow management. (2) Social Media Dependent: users usually are digital natives with high access to social media or the internet who shop and pay digitally. Providers might not own physical or online shops but are licensed to aggregate money flows through virtual ecosystems. (3) Early Life Engagement: digital banks race to capture the next generation from popularity to profitability. This type of payment aimed to give children a taste of financial freedom while letting parents track their spending. Providers are to capitalize on the digital payment and e-commerce boom and hold on to new customers into adulthood. (4) Traditional Banking: plastic credit cards are purposely designed as a control group to track the evolvement of business strategies in digital payments. Traditional credit card users may follow the bank’s digital strategy to land on different types of digital wallets or mostly keep using plastic credit cards. This research analyzed business growth models and inter-firms’ coopetition strategies of the selected cases. Results of the multiple case analysis reveal that channel initiated payments bundled rewards with retailer’s business discount for recurring purchases. They also extended other financial services, such as insurance, to fulfill customers’ new demands. Contrastively, social media dependent payments developed new usages and new value creation, such as P2P money transfer through network effects among the virtual social ties, while early life engagements offer virtual banking products to children who are digital natives but overlooked by incumbents. It has disrupted the banking business domains in preparation for the metaverse economy. Lastly, the control group of traditional plastic credit cards has gradually converted to a BaaS (banking as a service) model depending on customers’ preferences. The multi-homing behavior is not avoidable in digital payment competitions. Payment providers may encounter multiple waves of a multi-homing threat after a short period of success. A dynamic cross-business collaboration strategy should be explored to continuously evolve the digital ecosystems and allow users for a broader shopping experience and continual usage.

Keywords: digital payment, digital ecosystems, multihoming users, cross business strategy, user digital behavior intentions

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Authors: Umar Shehu Umar

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Contract farming is a viable strategy agribusinesses rely on to strengthen vertical coordination. However, low contract compliance remains a significant setback to agribusinesses' contract performance. The present study aims to understand what drives smallholder farmers’ contract compliance behaviour. Qualitative information was collected through Focus Group Discussions to enrich the design of the survey questionnaire administered on a sample of 300 randomly selected farmers contracted by the Dangote Tomato Processing Plant (DTPP) in four regions of northern Nigeria. Novel transaction level data of tomato sales covering one season were collected in addition to socio-economic information of the sampled farmers. Binary logistic model results revealed that open fresh market tomato prices and payment delays negatively affect farmers' compliance behaviour while quantity harvested, education level and input provision correlated positively with compliance. The study suggests that contract compliance will increase if contracting firms devise a reliable and timely payment plan (e.g., digital payment), continue input and service provisions (e.g., improved seeds, extension services) and incentives (e.g., loyalty rewards, bonuses) in the contract.

Keywords: contract farming, compliance, farmers and processors., smallholder

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Authors: Elizabeth Spink

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Providing safe and affordable drinking water to low-income households in developing countries remains a challenge. Policy goals of increasing household piped-water access and cost recovery for utility providers are often at odds. Nonpayment of utility bills is frequently cited as a constraint to improving the quality of utility service. However, nonpayment is widely tolerated, and households often accumulate significant debt to the utility provider. This study examines the effect of enforcement of water bill payment through supply disconnections in Livingstone, Zambia. This research uses a dynamic model of household monthly payments and accumulation of arrears, which determine the probability of disconnection, and simulates the effect of exogenous changes in enforcement levels. This model is empirically tested using an event-study framework of exogenous increases in enforcement capacity that occur during administrative rezoning events, which reduce the number of households that one enforcement agent is responsible for. The results show that households are five percentage points more likely to make a payment in the months following a rezoning event, but disconnections for low-income households increase as well, resulting in little change in revenue collected by the water utility. The results suggest that high enforcement of water bill payments toward credit-constrained households may be ineffective and lead to reduced piped-water access.

Keywords: enforcement, nonpayment, piped-water access, water utilities

Procedia PDF Downloads 199

Authors: Babak Mirbaha, Mahmoud Saffarzadeh, Fatemeh Mohajeri

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Road traffic accidents lead to a higher rate of death and injury, especially in vulnerable road users such as pedestrians. Improving the safety of facilities for pedestrians is a major concern for policymakers because of the high number of pedestrian fatalities and direct and indirect costs which are imposed to the society. This study focuses on the idea of determining the willingness to pay of pedestrians for increasing their safety while crossing the street. In this study, three different scenarios including crossing the street with zebra crossing facilities, crossing the street with zebra crossing facilities and installing a pedestrian traffic light and constructing a pedestrian bridge with escalator are presented. The research was conducted based on stated preferences method. The required data were collected from a questionnaire that consisted of three parts: pedestrian’s demographic characteristics, travel characteristics and scenarios. Four different payment amounts are presented for each scenario and a logit model has been built for each proposed payment. The results show that sex, age, education, average household income and individual salary have significant effect on choosing a scenario. Among the policies that have been mentioned through the questionnaire scenarios, the scenario of crossing the street with zebra crossing facilities and installing a traffic lights is the most frequent, with willingness to pay 10,000 Rials and the scenario of crossing the street with a zebra crossing with a willingness to pay 100,000 Rials having the least frequency. For all scenarios, as the payment is increasing, the willingness to pay decreases.

Keywords: pedestrians, willingness to pay, safety, immunization

Procedia PDF Downloads 129

Authors: Gunasekaran Raja, Rajakumar Arul, Kottilingam Kottursamy, Ramkumar Jayaraman, Sathya Pavithra, Swaminathan Venkatraman

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Wireless Interoperability for Microwave Access (WiMAX) utilizes the IEEE 802.1X mechanism for authentication. However, this mechanism incurs considerable delay during handoffs. This delay during handoffs results in service disruption which becomes a severe bottleneck. To overcome this delay, our article proposes a key caching mechanism based on user path prediction. If the user mobility follows that path, the user bypasses the normal IEEE 802.1X mechanism and establishes the necessary authentication keys directly. Through analytical and simulation modeling, we have proved that our mechanism effectively decreases the handoff delay thereby achieving fast authentication.

Keywords: authentication, authorization, and accounting (AAA), handoff, mobile, user path prediction (UPP) and user pattern

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Authors: Parth Prajapati, A. R. Srinivas

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The purpose of this paper is to validate the concept of the Lotus Mechanism using Computer Aided Engineering (CAE) tools considering the statics and dynamics through actual time dependence involving inertial forces acting on the mechanism joints. For a 1.2 m mirror made of hexagonal segments, with simple harnesses and three-point supports, the maximum diameter is 400 mm, minimum segment base thickness is 1.5 mm, and maximum rib height is considered as 12 mm. Manufacturing challenges are explored for the segments using manufacturing research and development approaches to enable use of large lightweight mirrors required for the future space system.

Keywords: dynamics, manufacturing, reflectors, segmentation, statics

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Authors: Haider Aamir, Muhammad Ali Khalid

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Electricity harvesting speed bump (EHSB) is speed breaker of conventional shape, but the difference is that it is not fixed, rather it moves up and down, and electricity can be generated from its vibrating motion. This speed bump consists of an upper cover which will move up and down, a shaft mechanism which will be used to drive the generator and a rack and pinion mechanism which will connect the cover and shaft. There is a spring mechanism to return the cover to its initial state when a vehicle has passed over the bump. Produced energy in the past was up to 80 Watts. For this purpose, a clutch mechanism is used so that both the up-down movements of the cover can be used to drive the generator. Mechanical Motion Rectifier (MMR) mechanism ensures the conversion of both the linear motions into rotational motion which is used to drive the generator.

Keywords: electricity harvesting, generator, rack and pinion, stainless steel shaft

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Authors: Osman Acar

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Sun tracking systems are the systems following the sun ray by a right angle or by predetermined certain angle. In this study, we used theoretical trajectory of sun for latitude of central Anatolia in Turkey. A two degree of freedom spherical mechanism was designed to have a large workspace able to follow the sun's theoretical motion by the right angle during the whole year. An inverse kinematic analysis was generated to find the positions of mechanism links for the predicted trajectory. Force and torque analysis were shown for the first day of the year.

Keywords: sun tracking, theoretical sun trajectory, spherical mechanism, inverse kinematic analysis

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Authors: Ladaporn Pithuk

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The purposes of the study were to ascertain the customer requirement, to identify the factors related to online business in Thailand. The sample of this study consisted of 400 customers who are purchasing product and service on E-commerce. To get primary sources, a questionnaire consisting of 31 questions was designed and adapted from previous studies. The data from the questionnaires were collected and analyzed in descriptive forms and (ONE-WAY ANOVA) was conducted. The majority of the respondents showed customer requirement by stating “moderately agree” for questions asking them about customization, connection, content, commerce, context, communication and community, however, they also displayed negative attitudes by identifying “moderately disagree” for security concerns and after-sales services. These important issues need to be improved immediately since it can encourage customers to buy goods and services through the Internet or discourage them, and businesses should offer more channels of payment methods for customers for instance, e-payment.

Keywords: customer requirement, customization, connection, online business

Procedia PDF Downloads 176

Authors: Qin Xia

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’National New District’ as a regional overall promotion of strategic thinking has become increasingly mature, but its spatial expansion is still chaotic and disorderly, so it is urgent to summarize the complex and unique driving mechanism contained in its spatial expansion to formulate sustainable urban expansion plan. Under the understanding of the general laws of the driving mechanism of China's space expansion, it is found that the existing research on the driving mechanism of the space expansion of national new districts is insufficient. The research area focuses on the research of the driving mechanism of the space expansion of a single new area. In terms of research methods, qualitative description is the main focus. In terms of research content, it is limited to the expansion speed, intensity, and area of the new district itself and does not involve the expansion and utilization efficiency of space and the spillover efficiency to surrounding cities. The specific connotations of social, economic, political, and geographical categories are not thoroughly explored. It is often a general explanation that a certain factor has promoted it. The logic is not rigorous and convincing, and the description is relatively static, with different time and space. There is less literature on scale interaction. Through the reflection on the key and difficult points of the drive mechanism of the space expansion of the national new area, it is clear that the existing research on the drive mechanism of the space expansion of the national new area should be continued to drive the sustainable expansion of space.

Keywords: national new district, space expansion, driving mechanism, existing research

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Authors: Rishabh Garg

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Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

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Authors: T. Elrazaz

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This paper examines accrual and real earnings management by publicly listed targets around mergers and acquisitions. Prior literature shows that earnings management around mergers and acquisitions can have a significant economic impact because of the associated wealth transfers among stakeholders. More importantly, acting on behalf of their shareholders or pursuing their self-interests, managers of both targets and acquirers may be equally motivated to manipulate earnings prior to an acquisition to generate higher gains for their shareholders or themselves. Building on the grounds of information asymmetry, agency conflicts, stewardship theory, and the revelation principle, this study addresses the question of whether takeover targets employ accrual and real earnings management in the periods prior to the announcement of Mergers and Acquisitions (M&A). Additionally, this study examines whether acquirers are able to detect targets’ earnings management, and in response, adjust the acquisition premium paid in order not to face the risk of overpayment. This study uses an aggregate accruals approach in estimating accrual earnings management as proxied by estimated abnormal accruals. Additionally, real earnings management is proxied for by employing widely used models in accounting and finance literature. The results of this study indicate that takeover targets manipulate their earnings using accruals in the second year with an earnings release prior to the announcement of the M&A. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals. These results are consistent with the argument that targets of cash-only or mixed-payment deals do not have the same strong motivations to manage their earnings as their stock-financed deals counterparts do additionally supporting the findings of prior studies that the method of payment in takeovers is value relevant. The findings of this study also indicate that takeover targets manipulate earnings upwards through cutting discretionary expenses the year prior to the acquisition while they do not do so by manipulating sales or production costs. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals, providing further robustness to the results derived under the accrual-based models. Finally, this study finds evidence suggesting that acquirers are fully aware of the accrual-based techniques employed by takeover targets and can unveil such manipulation practices. These results are robust to alternative accrual and real earnings management proxies, as well as controlling for the method of payment in the deal.

Keywords: accrual earnings management, acquisition premium, real earnings management, takeover targets

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Authors: Jonathan A. Akinwale, Ibukun J. Agotola

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There is a need to rethink how technology is being disseminated to end users in order to ensure wide adoption and utilisation. Aflasafe bio-control was developed to combat aflatoxin in maize to ensure food safety for the end users. This study was designed to assess how the pull mechanism is enhancing the utilisation of this proven technology among maize farmers in Oyo State, Nigeria. The study determines the awareness of farmers on Aflasafe, sources of purchase of Aflasafe, incentives towards the usage of Aflasafe, constraints to farmers’ utilisation and factors influencing farmers’ utilisation of Aflasafe bio-control measures. Respondents were selected using a multi-stage sampling procedure. Data were collected from respondents through interview schedule and analyzed using descriptive statistics (means, frequencies, and percentages) and inferential statistics (Pearson Product Moment Correlation and regression analysis). The result showed that 89% of the farmers indicated implementers as the outlet for the purchase of Aflasafe. Also, premium payment and provision of technical assistance were the highly ranked incentives to the utilisation of Aflasafe among the farmers. The study also revealed that the major constraints face by respondents were low access to credit facility, inadequate sources of purchase, and lack of storage facilities. A little above half (54%) of the farmers were found to have fully utilized Aflasafe in maize production. Pearson Product Moment Correlation (PPMC) analysis revealed that there was a significant correlation between incentives and utilisation of Aflasafe (r-value=0.274; p ≤ 0.01). The result of the regression analysis indicated maize production experience (β=0.572), output (β=0.531), years of formal education (β=0.404) and household size (β=0.391) as the leading factors influencing farmers utilisation of Aflasafe bio-control in maize production. The study, therefore, recommends that governments and non-governmental organisations should be interested in making Aflasafe available to the maize farmers either through loan provision or price subsidy.

Keywords: Aflasafe bio-control, maize production, production incentives, pull mechanism, utilisation

Procedia PDF Downloads 100

Authors: Shu-Han Hsu, Jiho Yoon, Chwen Sheu

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With the rapidly growing of blockchain technology and cryptocurrency, various industries which include tourism has added in cryptocurrency as the payment method of their transaction. More and more tourism companies accept payments in digital currency for flights, hotel reservations, transportation, and more. For travellers and tourists, using cryptocurrency as a payment method has become a way to circumvent costs and prevent risks. Understanding volatility dynamics and interdependencies between standard currency and cryptocurrency is important for appropriate financial risk management to assist policy-makers and investors in marking more informed decisions. The purpose of this paper has been to understand and explain the risk spillover effects between six major cryptocurrencies and the top ten most traded standard currencies. Using data for the daily closing price of cryptocurrencies and currency exchange rates from 7 August 2015 to 10 December 2019, with 1,133 observations. The diagonal BEKK model was used to analyze the co-volatility spillover effects between cryptocurrency returns and exchange rate returns, which are measures of how the shocks to returns in different assets affect each other’s subsequent volatility. The empirical results show there are co-volatility spillover effects between the cryptocurrency returns and GBP/USD, CNY/USD and MXN/USD exchange rate returns. Therefore, currencies (British Pound, Chinese Yuan and Mexican Peso) and cryptocurrencies (Bitcoin, Ethereum, Ripple, Tether, Litecoin and Stellar) are suitable for constructing a financial portfolio from an optimal risk management perspective and also for dynamic hedging purposes.

Keywords: blockchain, co-volatility effects, cryptocurrencies, diagonal BEKK model, exchange rates, risk spillovers

Procedia PDF Downloads 115

Authors: N. Dumitru, S. Dumitru, C. Copilusi, N. Ploscaru

Abstract:

On this research, experimental analyses have been performed in order to determine the oil pump mechanism dynamics and stability from an oil unit mechanical structure. The experimental tests were focused on the vibrations which occur inside of the rod element during functionality of the oil pump unit. The oil pump mechanism dynamic parameters were measured and also determined through numerical computations. Entire research is based on the oil pump unit mechanical system virtual prototyping. For a complete analysis of the mechanism, the frequency dynamic response was identified, mainly for the mechanism driven element, based on two methods: processing and virtual simulations with MSC Adams aid and experimental analysis. In fact, through this research, a complete methodology is presented where numerical simulations of a mechanism with deformed elements are developed on a dynamic mode and these can be correlated with experimental tests.

Keywords: modal dynamic analysis, oil pump, vibrations, flexible elements, frequency response

Procedia PDF Downloads 287

Authors: David Broussard

Abstract:

This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

Procedia PDF Downloads 46

Authors: Haytham Yassine

Abstract:

This article mainly aims to detect and understand how money laundering activities are executed by transport of cash, identifying the underlying factors and separating legitimate from illegitimate usage of cash and how it is being used. This research provides academics with additional literature and provides bank supervisors and practitioners with a better understanding of sources and uses of cash in criminal activities and how cash is used in the laundering mechanism. Data are gathered through survey in the Middle East and North Africa region and review of the available research. The results of the analysis will help distinguish the factors affecting preference for cash rather other payment instruments in the region, identify what causes the tendency to launder illegal proceeds through cash transportation and how illegal cash is being laundered and moved. On the other hand, this paper sheds the light on major cash generating criminal activities, its sources and main destinations.

Keywords: illegitimate activities, cash, money laundering, terrorism financing

Procedia PDF Downloads 116

Authors: Li Ma, Meishuang Ma, Mengying Huang

Abstract:

The quality of construction projects reflects the credit and responsibilities of construction contractors for the owners and the whole society. Because the construction contractors master more relevant information about the entrusted engineering project under construction while the owners are in unfavorable position of gaining information, asymmetric information may lead the contractors act against the owners in order to pursue their own interests. Building a powerful motivation mechanism is the key to guarantee investor economic interests and the life and property of users in construction projects. Based on principal-agent theory and game theory, the authors develop relevant mathematical models to analyze and compare the contractor’s utility functions under different combinations of contracts’ explicit incentive mechanism and reputation’s implicit incentive mechanism aiming at finding out the conditions for incentive validity. The research concludes that the most rational motivation way is to combine the explicit and implicit incentive effects of both contracts and reputation mechanism, and puts forth some measures for problems on account of China’s current situation.

Keywords: construction contractors, contract, reputation, incentive mechanism

Procedia PDF Downloads 481