Search results for: pension funds

Authors: Camille Lacan, Pierre Desmet

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In the crowdfunding model, a campaign succeeds by collecting the funds required over a predefined duration. The success of a CF campaign depends both on the capacity to attract members of the online communities concerned, and on the community members’ involvement in online word-of-mouth recommendations. To maximize the campaign's success probability, project creators (i.e., an organization appealing for financial resources) send messages to contributors to ask them to issue word of mouth. Internet users relay information about projects through Word of Mouth which is defined as “a critical tool for facilitating information diffusion throughout online communities”. The effectiveness of these messages depends on the message framing and the time at which they are sent to contributors (i.e., at the start of the campaign or close to the deadline). This article addresses the following question: What are the effect of message framing and temporal distance on the willingness to share word of mouth? Drawing on Perspectives Theory and Construal Level Theory, this study examines the interplay between message framing (Gains vs. Losses) and temporal distance (message while the deadline is coming vs. far) on intention to share word of mouth. A between-subject experimental design is conducted to test the research model. Results show significant differences between a loss-framed message (lack of benefits if the campaign fails) associated with a short deadline (ending tomorrow) compared to a gain-framed message (benefits if the campaign succeeds) associated with a distant deadline (ending in three months). However, this effect is moderated by the anticipated regret of a campaign failure and the temporal orientation. These moderating effects contribute to specifying the boundary condition of the framing effect. Handling the message framing and the temporal distance are thus the key decisions to influence the willingness to share word of mouth.

Keywords: construal levels, crowdfunding, message framing, word of mouth

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Authors: Lahaina U. Dilangalen

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Using descriptive-experimental research methods, this study aimed to identify the main resources of water, assessed the water quality, sanitation and hygiene practices, and extent of implementation. Complete enumeration was done in 28 elementary public schools of Datu Odin Sinsuat Municipality. Questionnaires were given to the school advisers. Water samples were obtained from the same schools and were submitted to the Department of Science and Technology (DOST) Region XII for microbial analysis, specifically the presence of fecal coliform bacteria. Four water resources such as hand pump, faucet, deep well and spring were found being used in the 28 schools. Of water resources, the only treated was from the faucet. Most of the schools used the water for drinking and washing. Two schools strongly agreed, nine schools agreed and seventeen schools disagreed that they implemented DepEd Order no.56 s. 2009. In addition, two schools strongly agreed and twenty six agreed that they implemented DepEd Order No. 65 s. 2009. Five schools had water supply that were safe to drink while sixteen schools had water supply that were not safe to drink due to high fecal coliform count and did not undergo chemical treatment. The only safe for drinking were water resources that came from faucet because they were chemically treated. Seven out of 28 schools did not have water supply due to their location in mountainous areas. More than half of the schools did not comply with the DepEd Order No. 56 s. 2009 due to the lack of funds and support from the PTA and LGU. It is recommended that the Department of Education must have an urgent assessment of implementing both DepEd Orders No.56 and 65, to assure that the schoolchildren be protected from water and sanitation related ailments. Also, all water resources that are not treated must be used for washing only. Ideally, all the water resources must be treated to assure the safety of all school constituents. Moreover, the school administrators and teachers in the municipality must be provided copies of the results of this study for reference in implementing the said programs.

Keywords: assessment, drinking water, fecal coliform, groundwater

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Authors: Nattapol Pourprasert

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This study has an objective to analyze foreign policy of member states in globalization current, aiming to answer that the foreign policy of member states have been changed or remained the same and there are any factors affecting changing of foreign policy of the member states. From the study results, it is found that the foreign policy of Thailand is a friendly foreign policy with all states. The policy of Indonesia is more opened because of a change in leader, allowing more democratic development in the country; the government has proceeded with friendly foreign policy with the states in order to bring funds into the state. The foreign policy of Malaysia is not much changed as there is no changing in the leader; the policy of Malaysia has reconciled relations with main city of Indian and Chinese residing in the country in order to bring investments into the country and to relieve tensions in the country. The foreign policy of the Philippines has proceeded with policy under the ASEAN framework and emphasized on international Islam communities. The foreign policy of Singapore has the least changed as the Singapore's policy focuses on internal trade since the state was found. As for the foreign policy of Brunei Darussalam, Brunei has a little role in the international stage; the state having closest relationship as from the view of history is Singapore as the Singaporean has invested in retailing business in Brunei. The foreign policy of Vietnam has emphasized on an omnidirectional foreign policy in order to compete with several states in global stage. The foreign policy of Myanmar has proceeded with a friendly foreign policy with all ASEAN member states, the East-west Corridor transportation line from Myanmar through Thailand and Lao to Vietnam has been developed. As for the foreign policy of Lao, In 2001, the Thai government and Lao government held a discussion which Thailand reaffirmed the position not to support the anti-Lao group. The foreign policy of Cambodia has proceeded with more openness, having good relation with China, Russia and USA as these states has invested in the state, especially the US company.

Keywords: globalization, public policy analysis, foreign policy, ASEAN member states

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Authors: Aneri Mehta, Krunal Mehta

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Financial administration is part of government which deals with collection, preservation and distribution of public funds, with the coordination of public revenue and expenditure, with the management of credit operation on behalf of the state and with the general control of the financial affairs of public households. The researcher has taken the prime body of the local self government viz. Municipal Corporation. However, the number of municipal corporations in India has rapidly increased in recent years. Countries 27% of the total population are living in urban area & in recent it increasing very fast. People are moving very fast from rural area to urban area. Their demand, awareness is increasing day by day. The Municipal Corporations render many services for the development of the urban area. Thus, researcher has taken a step to know the accounting practices of the municipal corporations of Gujarat state (AMC & BMC ). The research will try to show you the status of finance of municipal corporations. Article 243(w) of the constitution of India envisaged that the state government maybe, by law , endow the municipalities with such powers and authorities as may be necessary to enable them to function as institution of self government and such law may contain provision for devolution of powers and responsibilities upon municipalities subjects to such condition as may be specified there in with respect to (i) the peroration of plans for economic development and social justice and (ii) the performance of the function and the implementation of schemes as may be entrusted to them including those in relation to the matters listed in the twelfth schedule. The three tier structure of the Indian Government i.e. Union, State & Local Self Government is the scenario of the Indian constitution. Local Self Government performs or renders many services under the direct control of state government. They (local bodies) possess autonomy within its limited sphere, raise revenue through local taxation and spend its income on local services.

Keywords: financial administration, urban local bodies, local self government, constitution

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Authors: Omran M. Kenshel, Alan J. O'Connor

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Estimating the service life of Reinforced Concrete (RC) bridge structures located in corrosive marine environments of a great importance to their owners/engineers. Traditionally, bridge owners/engineers relied more on subjective engineering judgment, e.g. visual inspection, in their estimation approach. However, because financial resources are often limited, rational calculation methods of estimation are needed to aid in making reliable and more accurate predictions for the service life of RC structures. This is in order to direct funds to bridges found to be the most critical. Criticality of the structure can be considered either form the Structural Capacity (i.e. Ultimate Limit State) or from Serviceability viewpoint whichever is adopted. This paper considers the service life of the structure only from the Structural Capacity viewpoint. Considering the great variability associated with the parameters involved in the estimation process, the probabilistic approach is most suited. The probabilistic modelling adopted here used Monte Carlo simulation technique to estimate the Reliability (i.e. Probability of Failure) of the structure under consideration. In this paper the authors used their own experimental data for the Correlation Length (CL) for the most important deterioration parameters. The CL is a parameter of the Correlation Function (CF) by which the spatial fluctuation of a certain deterioration parameter is described. The CL data used here were produced by analyzing 45 chloride profiles obtained from a 30 years old RC bridge located in a marine environment. The service life of the structure were predicted in terms of the load carrying capacity of an RC bridge beam girder. The analysis showed that the influence of SV is only evident if the reliability of the structure is governed by the Flexure failure rather than by the Shear failure.

Keywords: Chloride-induced corrosion, Monte-Carlo simulation, reinforced concrete, spatial variability

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Authors: Anima Ashraf

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Over the past few decades biodiversity has become the issue of global concern for its rapid reduction worldwide. Bangladesh is no exception. The country is exceptionally endowed with a vast variety of flora and fauna, but due to tremendous population pressure, rural poverty and unemployment it has been decreased alarmingly. Since, both biodiversity and sustainable development are the part of human life in modern era and both work together to make our life safer and comfortable therefore balance should be kept in development and biodiversity conservation and priority should be given to alternative and sustainable development paths. This paper is based on study of two projects undertaken by Arannayk Foundation jointly with its local NGO partners. The aim was to understand previous, current and future scenarios for the hilly biodiversity of Khagrachari in the Chittagong Hill Tracts (CHT) of Bangladesh. It is also observed how alternative income generating activities (AIGA) improve livelihood of the tribal inhabitants of the area, decrease their dependency on forest resources and also aid conservation activities. Intensive field visits were made and interviews were conducted with key informants to see the progress and achievements of local NGOs working with the tribal community for the past seven years to restore the denuded hills of Khagrachari. The paper also covers the impacts and interventions of the projects and the methods used to aid conservation activities. Raising awareness among the villagers has reduced extraction of forests resources by 47% and granting funds and access to microcredit to adopt AIGAs have increased their average annual income by 25%. Finally, the paper concludes that effective community-based conservation practices are fundamental to ensure biodiversity conservation in the Chittagong Hill Tracts. In order to conserve biodiversity and restore the forests of CHT, livelihood development of the villagers has to be considered as the main component of the projects undertaken by all NGOs and the Government.

Keywords: biodiversity, conservation, forests, livelihood

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Authors: Ika Jorum

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The aim of this collaborative project was to develop library support that contributes in a long-term way to a technical university’s work on increased equality in education. The background was an assessment made by the Higher Education Authority that showed the need for improvement regarding equality in several programs at the university. The university’s Vice President for equality and Vice President for sustainability announced funds for projects that supported the improvement of equality in education. The library was granted funding for a one-year project that aimed both to support teachers in order to embed equality in education and to support the library staff and improve the organization’s own work. The part of the project that was directed to teachers was performed as activities in different areas and forms, such as acquisition and collections, teaching, exhibitions and book discussions. Besides the activities and support that was offered to teachers, the education team had journal clubs in order to develop and embed equality in their own teaching. The part that was directed to library staff and management was performed as workshops in collaboration with Equality Office in order to identify areas where the library could make improvements on work with equality and inclusion. The expectation was that the activities would be well attended since the project team had got indications that the content would be relevant. The outcome of this project was that some activities turned out to be more attended than others and what is expected to be found relevant, for example, a workshop on information searching from a gender and equality perspective for teachers, might still not attract participants. On the other hand, Ph.D. students and students participated in the book discussions and wanted them to continue after the project had ended. Results will be shared both on what was successful and what was challenging. Some reflections will be given on what can be done to attract participants to activities in the area of gender equality that is most likely relevant for the expected attendants and how results from a project on gender equality can be integrated into an organization’s daily work.

Keywords: equality, higher education, critical information literacy, collaboration

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Authors: Andrea Palazzo, Daniel Macek, Veronika Malinova

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Contour processing is the new technology challenge for architects and construction companies. The many advantages it promises make it one of the most interesting solutions for construction in terms of automation of building processes. The technology for 3D printing houses offers many application possibilities, from low-cost construction, to being considered by NASA for visionary projects as a good solution for building settlements on other planets. Another very important point is that clients, as architects, will no longer have many limits in design concerning ideas and creativity. The prices for real estate are constantly increasing and the lack of availability of construction materials as well as the speculation that has been created around it in 2021 is bringing prices to such a level that in the future real estate developers risk not being able to find customers for these ultra-expensive homes. Hence, this paper starts with the introduction of 3D printing, which now has the potential to gain an important position in the market, becoming a valid alternative to the classic construction process. This technology is not only beneficial from an economic point of view but it is also a great opportunity to have an impact on the environment by reducing CO2 emissions. Further on in the article we will also understand if, after the COP 26 (2021 United Nations Climate Change Conference), world governments could also push towards building technologies that reduce the waste materials that are needed to be disposed of and at the same time reduce emissions with the contribution of governmental funds. This paper will give us insight on the multiple benefits of 3D printing and emphasise the importance of finding new solutions for materials that can be used by the printer. Therefore, based on the type of material, it will be possible to understand the compatibility with current regulations and how the authorities will be inclined to support this technology. This will help to enable the rise and development of this technology in Europe and in the rest of the world on actual housing projects and not only on prototypes.

Keywords: additive manufacturing, contour crafting, development, new regulation, printing material

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Authors: Pradip Baishya, D. K. Mahanta

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Rapid and unplanned urbanisation in most cities of India has progressively increased the problem of managing municipal waste in the past few years. With insufficient infrastructure and funds, Municipalities in most cities are struggling to cope with the pace of waste generated. Open dumping is widely in practice as a cheaper option. Scientific disposal of waste in such a large scale with the elements of segregation, recycling, landfill, and incineration involves sophisticated and expensive plants. In an effort to finding affordable and simple solutions to address this burning issue of waste disposal, a semi-mechanized plant has been designed underlying the concept of a zero waste community. The fabrication work of the waste management unit is carried out by local skills from locally available materials. A resident colony in the city of Guwahati has been chosen, which is seen as a typical representative of most cities in India in terms of size and key issues surrounding waste management. Scientific management and disposal of waste on site is carried out on the principle of reduce, reuse and recycle from segregation to compositing. It is a local community participatory model, which involves all stakeholders in the process namely rag pickers, residents, municipality and local industry. Studies were conducted to testify the plant as revenue earning self-sustaining model in the long term. Current working efficiency of plant for segregation was found to be 1kg per minute. Identifying bottlenecks in the success of the model, data on efficiency of the plant, economics of its fabrication were part of the study. Similar satellite waste management plants could potentially be a solution to supplement the waste management system of municipalities of similar sized cities in India or South East Asia with similar issues surrounding waste disposal.

Keywords: affordable, rag pickers, recycle, reduce, reuse, segregation, zero waste

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Authors: Monica Dantas

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At what socio-economic costs can the food industry offer products at low prices? This research seeks to understand and to explore how we attribute competence and meaning, what enables the outcomes of agriculture and what institutions provides validation regarding food production. This study objective is to explain and interpret conditions of the present state of agriculture in Brazil centring on two distinct segments, agribusiness and family farming, as the Brazilian, rapidly changing political environment unfolds. The approach is grounded in multidisciplinary literature drawing from the politics of development, the sociology of food, the sustainability framework and the conceptual differences between agribusiness and family farming regarding the innate purpose of the two segments. In addition, a quantitative portion of the research includes secondary data analysis from statistical measurements, economic indicators, federal budget information, and census data to compare the two segments, conveying a general snapshot of the conditions investigated. The results raised questions about the perceived image of the success of agribusiness, against some contradicting economic checks and balances. Analyzing how public funds are invested in agriculture shed light on what can enable or undermine the development of food systems in Brazil. It also revealed how politics, ideology, and corporations might influence the Brazilian Federal. In the 2000-2018 observed timeline of annual federal spending on agriculture in Brazil, there is variation in the amount invested in family farming that seems to 'coincide' with the ideological direction of the federal government in power. It was also observed that significant changes in the institutional framework and financial support either promoted or purposely undermined family farming importance using public institutions to validate support for agribusiness.

Keywords: food politics, sustainability, family farming, food system, public budget

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Authors: Evangeline Mbah, Margret Okeke, Agbo Joseph

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Agriculture was primarily a rural activity in Nigeria, but due to increasing demand for food and jobs for many urban dwellers, it became necessary for urban households to embark on farming as a means of improving household food security and additional income for economic empowerment. Urban agriculture serves as a veritable tool for poverty reduction among people living in urban areas mostly low-income earners and unemployed. The survey was conducted to identify key challenges encountered by households in Makurdi metropolis of Benue state, Nigeria who are engaged in urban agriculture. A well-structured questionnaire was used to collect data from a sample of respondents used for the study. Data were analyzed using frequency, percentage, mean score and standard deviation. Results show that a greater percentage (46.0%) of the respondents engaged in cultivation of leafy vegetable, 22.0% cultivated cassava, 21.0% planted sweet potato, 18.0% cultivated tomato while 56.0% reared poultry, 23.0% kept goat, among others. Sources of agricultural information indicated by the respondents were family members/relations (85.0%), friends/neighbours (73.0%), radio (68.0%), extension agents (57.0%), etc. Major challenges encountered by the respondents in urban agriculture include inadequate size of farmland (M= 2.72), lack of access to credit facilities (M= 2.63), lack of funds (M= 2.50), high cost of labour (M= 2.49), insecurity of lands (M= 2.46), theft of crops at maturity (M= 2.38), lack of farm inputs such as improved varieties of seeds, fertilizer and exotic breeds of livestock (M= 2.23), destruction of crops by stray farm animals (M= 1.96), among others. The study recommends that there is a need for adequate provision of farm inputs by the government at all levels at a subsidized rate in order to reduce the cost of production and enhance optimum productivity.

Keywords: urban, agriculture, household, challenges, Makurdi, Nigeria

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Authors: Fiona Gibson

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This study is on sustainable capacity building in tourism management of the touristic destination of forts and castles within the Accra Metropolis, of the Greater Accra Region of Ghana, notably, the Christianbough Castle, the James and Ussher Forts. These forts and castle mentioned above have a rich colonial historical past that emerged from the 17th century onwards on the Gulf Coast of Guinea of the West Africa Sub-Region. Unfortunately, apart from the Christianbough Castle, which used to be the seat of government until recently, the environment of James and Ussher Forts are in a deployable state of decay due to years of neglect. Jamestown and Usshertown fishing communities with historical colonial past of a rich touristic heritage sites are predominantly indigenous Gas who speak only the Ga language, one of the languages of the six local languages spoken in Ghana, as a medium for sustainable tourism management. The purpose of this study is to investigate the reasons for years of decay and neglect, using both qualitative and quantitative research approach for individual interviews, to develop a rich picture of life situational story of the people of James and Ussher Forts environs and finding solutions to their predicaments through internal generated funds for sustainability of tourism management within the communities. The study recommends nation-wide educational campaigns and programmes on culture of maintenance and management for sustainable tourism development and management at all historical heritage sites in the country, specifically with the aim of promoting tourism in Ghana, using the indigenous local languages. The study also recommends formal and informal education for the residents, especially the youth to help them learn skills, either through local training or the formal education and this call for collaboration between the government of Ghana and other local and international bodies.

Keywords: sustainable capacity building, tourism management, forts, castles

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Authors: Efthimios Kokkotos, Kostakis Marios, Beis Alexandros, Angelos Patakas, Antonios Avgeris, Vassilios Triantafyllidis

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H, C, and O stable isotope ratios were measured in different olive oils and table olives originating from different regions of Greece. In particular, the stable isotope ratios of different olive oils produced in the Lakonia region (Peloponesse – South Greece) from different varieties, i.e., cvs ‘Athinolia’ and ‘koroneiki’, were determined. Additionally, stable isotope ratios were also measured in different table olives (cvs ‘koroneiki’ and ‘kalamon’) produced in the same region (Messinia). The aim of this study was to provide sufficient isotope ratio data regarding each variety and region of origin that could be used in discriminative studies of oil olives and table olives produced by different varieties in other regions. In total, 97 samples of olive oil (cv ‘Athinolia’ and ‘koroneiki’) and 67 samples of table olives (cvs ‘kalmon’ and ‘koroneiki’) collected during two consecutive sampling periods (2021-2022 and 2022-2023) were measured. The C, H, and O isotope ratios were measured using Isotope Ratio Mass Spectrometry (IRMS), and the results obtained were analyzed using chemometric techniques. The measurements of the isotope ratio analyses were expressed in permille (‰) using the delta δ notation (δ=Rsample/Rstandard-1, where Rsample and Rstandardis represent the isotope ratio of sample and standard). Results indicate that stable isotope ratios of C, H, and O ranged between -28,5+0,45‰, -142,83+2,82‰, 25,86+0,56‰ and -29,78+0,71‰, -143,62+1,4‰, 26,32+0,55‰ in olive oils produced in Lakonia region from ‘Athinolia’ and ‘koroneiki ‘varieties, respectively. The C, H, and O values from table olives originated from Messinia region were -28,58+0,63‰, -138,09+3,27‰, 25,45+0,62‰ and -29,41+0,59‰,-137,67+1,15‰, 24,37+0,6‰ for ‘Kalamon’ and ‘koroneiki’ olives respectively. Acknowledgments: This research has been co-financed by the European Regional Development Fund of the European Union and Greek national funds through the Operational Program Competitiveness, Entrepreneurship and Innovation, under the call RESEARCH—CREATE—INNOVATE (Project code: T2EDK-02637; MIS 5075094, Title: ‘Innovative Methodological Tools for Traceability, Certification and Authenticity Assessment of Olive Oil and Olives’).

Keywords: olive oil, table olives, Isotope ratio, IRMS, geographical origin

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Authors: Kevin T. Inks

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India’s Brahmaputra River Valley has, since independence, experienced consistent low-intensity guerrilla warfare between ethnic and religious groups. These groups are often organized around perceived ethnic territoriality, and target civilians, communities, and especially migrants belonging to other ethnic and religious groups. Intense flooding and erosion have led to widespread displacement, and disaster relief funds are largely tied to legal land tenure. Displaced residents of informal settlements receive little or no resettlement aid, and their subsequent migration strategies and risk from guerrilla violence are poorly understood. Semi-structured interviews and comprehensive surveys focused on perceptions of risk, efficacy of disaster relief, and migration and adaptation strategies were conducted with households identified as being ‘at-risk’ of catastrophic flooding and erosion in Majuli District, Assam. Interviews with policymakers and government workers were conducted to assess disaster relief efforts in informal settlements, and remote sensing methods were used to identify informal settlement and hydrogeomorphic change. The results show that various ethnic and religious groups have differential strategies and preferences for resettlement. However, these varying strategies are likely to lead to differential levels of risk from guerrilla violence. Members of certain ethnic groups residing in informal settlements, in the absence of resettlement assistance, are more likely to seek out unofficial settlement on land far from the protection of the state and experience greater risk of becoming victims of political violence. As climate change and deforestation are likely to increase the severity of the displacement crisis in the Brahmaputra River Valley, more comprehensive disaster relief and surveying efforts are vital for limiting migration and informal settlement in potential sites of guerrilla warfare.

Keywords: climate, displacement, flooding, India, violence

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Authors: Gianpaolo Ghiani, Emanuela Guerriero, Emanuele Manni, Alessandro Romano

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In this article, we deal with a variant of the classical course timetabling problem that has a practical application in many areas of education. In particular, in this paper we are interested in high schools remedial courses. The purpose of such courses is to provide under-prepared students with the skills necessary to succeed in their studies. In particular, a student might be under prepared in an entire course, or only in a part of it. The limited availability of funds, as well as the limited amount of time and teachers at disposal, often requires schools to choose which courses and/or which teaching units to activate. Thus, schools need to model the training offer and the related timetabling, with the goal of ensuring the highest possible teaching quality, by meeting the above-mentioned financial, time and resources constraints. Moreover, there are some prerequisites between the teaching units that must be satisfied. We first present a Mixed-Integer Programming (MIP) model to solve this problem to optimality. However, the presence of many peculiar constraints contributes inevitably in increasing the complexity of the mathematical model. Thus, solving it through a general purpose solver may be performed for small instances only, while solving real-life-sized instances of such model requires specific techniques or heuristic approaches. For this purpose, we also propose a heuristic approach, in which we make use of a fast constructive procedure to obtain a feasible solution. To assess our exact and heuristic approaches we perform extensive computational results on both real-life instances (obtained from a high school in Lecce, Italy) and randomly generated instances. Our tests show that the MIP model is never solved to optimality, with an average optimality gap of 57%. On the other hand, the heuristic algorithm is much faster (in about the 50% of the considered instances it converges in approximately half of the time limit) and in many cases allows achieving an improvement on the objective function value obtained by the MIP model. Such an improvement ranges between 18% and 66%.

Keywords: heuristic, MIP model, remedial course, school, timetabling

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Authors: Zhuo Feng, Ying Gao

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Public-private partnership (PPP), as an innovative way to provide infrastructures by the private sector, is being widely used throughout the world. Compared with the traditional mode, PPP emerges largely for merits of relieving public budget constraint and improving infrastructure supply efficiency by involving private funds. However, PPP projects are characterized by large scale, high investment, long payback period, and long concession period. These characteristics make PPP projects full of risks. One of the most important risks faced by the private sector is demand risk because many factors affect the real demand. If the real demand is far lower than the forecasting demand, the private sector will be got into big trouble because operating revenue is the main means for the private sector to recoup the investment and obtain profit. Therefore, it is important to study how the government compensates the private sector when the demand risk occurs in order to achieve Pareto-improvement. This research focuses on price compensation mechanism, an ex-post compensation mechanism, and analyzes, by mathematical modeling, the impact of price compensation mechanism on payoff of the private sector and consumer surplus for PPP toll road projects. This research first investigates whether or not price compensation mechanisms can obtain Pareto-improvement and, if so, then explores boundary conditions for this mechanism. The research results show that price compensation mechanism can realize Pareto-improvement under certain conditions. Especially, to make the price compensation mechanism accomplish Pareto-improvement, renegotiation costs of the government and the private sector should be lower than a certain threshold which is determined by marginal operating cost and distortionary cost of the tax. In addition, the compensation percentage should match with the price cut of the private investor when demand drops. This research aims to provide theoretical support for the government when determining compensation scope under the price compensation mechanism. Moreover, some policy implications can also be drawn from the analysis for better risk-sharing and sustainability of PPP projects.

Keywords: infrastructure, price compensation mechanism, public-private partnership, renegotiation

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Authors: Mohammad Mirwais Yusufi

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Skillful management is one of the most important success factors for today’s farms. When a farm is well managed, it can generate funds for its sustainability. Grape is one of the most diffused fruits in the world and one of the most important cash crops with high potential of production in Afghanistan as well. While there are several organizations intervening for improvement of this cash crop, the quality and quantity are still not satisfactory for producers and external markets. The situation has not changed over the years. Therefore, a survey was conducted in 2017 with 60 grape growers, supported by questionnaires in Mirbachakot, Kalakan and Shakardara districts of Kabul province. The purpose was to get an understanding of the current socio-demographic characteristics of farmers, management methods, constraints, farm size, yield and contribution of grape farming to household income. Findings indicate that grape farming was predominant 83.3% male, 16.6% female and small-scale farmers were the main grape producers, 60% < 1 ha of land under grape production. Likewise, 50% had more than > 10 years and 33.3% between 1-5 years’ experience in grape farming. The high level of illiteracy and diseases had significant digit effect on growth, yield and quality of grapes. The results showed that vineyard management operations to protect grapes from mechanical damage are very poor or completely absent. Comparing developed countries, table grape is one of the fruits with the highest input of technology, while in developing countries the cost of labor is low but the purchase of the equipment is very high due to financial situation. Hence the low quality and quantity of grape are influenced by poor management methods, such as non-availability of experts and lack of technical guidance in the study site. Thereby, the study suggested that improved agricultural extension services and managerial skills could contribute to addressing the problems.

Keywords: constraints, effect, management, Kabul

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Authors: Nneka Evelyn Udeh

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Women’s economic participation and empowerment are fundamental to strengthening women’s rights and enabling women to have control over their lives and exert influence in the society. The economic empowerment of women is a prerequisite for sustainable development, pro-poor growth and the achievement of all the millennium development Goals (MDGs). For women to be in development they need to be empowered morally, socially, economically, and financially and this is why women in Udi Local Government Area of Nigeria meet every August, the eighth month of the year to discuss matters relating to the pursuit of women empowerment, community welfare, and national development. This exploratory study depicts how annual august meetings serve as a stimulator for female empowerment with a case study Udi Local Government area of Enugu state, Nigeria. The paper finds that ‘August Meeting’ is a regular annual occurrence in Udi Local Government Area, Enugu State, Nigeria particularly for married women and is designed to better the lot of women, the child, family, the church, and the Community. Through this forum, with its seminars and workshops, women have the opportunity to learn everything about womanhood and how to chart new courses of action and sources of empowerment. The gathering gives women the opportunity to be integrated into their community development projects, and having women as stakeholders and not mere observers helps guarantee a speedy and steady community and overall national development progress. Funds are raised for community development projects through annual dues, levies, donations, fines, sales, income from money-yielding ventures, endowment and investiture. Annual August meeting also known as ‘Mothers Summit’ is indeed a powerful stimulator for female empowerment. Support and invigoration of this women initiative is essential for sustainable emancipation of female gender, not just in Udi Local Government Area of Nigeria but globally.

Keywords: women empowerment, annual august meeting, Udi Lga, mothers' summit, stimulator, emancipation, sustainability, community welfare, national development, millennium development goal

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Authors: Pahirangan Sivapatham, Barbara Esser, Andreas Grimmel

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In times of limited public funds and, in particular, an increased social, environmental awareness, as well as the limited availability of construction materials, sustainable and resource-saving pavement management system, is becoming more and more important. Therefore, the knowledge about the condition of the structural substances, particularly bearing capacity and its consideration while planning the maintenance measures of the subordinate network, i.e., state and municipal roads unavoidable. According to the experience, the recommended ride speed of the Traffic Speed Deflectometer (TSD) shall be higher than 40 km/h. Holding of this speed on the intra-urban roads is nearly not possible because of intersections and traffic lights as well as the speed limit. A sufficient background of experience for the evaluation of bearing capacity measurements with TSD in the range of lower speeds is not available yet. The aim of this study is to determine the possible lowest ride speed of the TSD while the bearing capacity measurement on the intra-urban roads. The manufacturer of the TSD used in this study states that the measurements can be conducted at a ride speed of higher than 5 km/h. It is well known that with decreasing ride speed, the viscous fractions in the response of the asphalt pavement increase. This must be taken into account when evaluating the bearing capacity data. In the scope of this study, several measurements were carried out at different speeds between 10 km/h and 60 km/h on the selected intra-urban roads with Pavement-Scanner of the University of Wuppertal, which is equipped with TSD. Pavement-Scanner is able to continuously determine the deflections of asphalt roads in flowing traffic at speeds of up to 80 km/h. The raw data is then aggregated to 10 m mean values so that, as a rule, a bearing capacity characteristic value can be determined for each 10 m road section. By means of analysing of obtained test results, the quality and validity of the determined data rate subject to the riding speed of TSD have been determined. Moreover, the data and pictures of the additional measuring systems of Pavement-Scanners such as High-Speed Road Monitor, Ground Penetration Radar and front cameras can be used to determine and eliminate irregularities in the pavement, which could influence the bearing capacity.

Keywords: bearing capacity measurement, traffic speed deflectometer, inter-urban roads, Pavement-Scanner, structural substance

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Authors: Anees Tahir

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Margin financing plays a significant role in Pakistan's stock market (PSX), offering investors the opportunity to maximize profits by borrowing funds from financiers to purchase marginable stocks. However, this financial practice raises several Shariah-related concerns. The study follows legal doctrinal research methodology. It explains and analyzes the law of margin financing prevailing in PSX and compares it with the principles of Shariah. It also examines and investigates the practices of margin financing from the perspective of Shariah. As part of the study, the researcher has conducted structured interviews with the Shariah advisors of the finance industry, academicians, market practitioners, and regulators. Thus, the study analyzes the findings of interviews. This article explores the legal framework and practice of margin financing in Pakistan from a Shariah perspective. The article investigates various issues relating to margin financing, including the fundamental concern of interest-based lending, which contravenes Islamic principles. It also highlights the problematic subject matter of margin financing, often involving non-Shariah compliant securities. Additionally, the article addresses the restriction on proprietary rights and the problematic element of speculation associated with margin financing. To provide a Shariah-compliant alternative, the Securities and Exchange Commission of Pakistan (SECP) introduced Murabahah Shares Financing (MSF) in 2019. However, the focus of the market is still on conventional margin financing. In the opinion of the researcher, the effective implementation of MSF is imperative because in the absence of such an alternative, the faith sensitive investor will remain deprived of a level playing field, and he is unable to get required financing opportunities through a halal and Shariah-compliant manner. This article argues that margin financing in its current form is incompatible with Shariah principles and should be discontinued. It is recommended that the SECP should gradually phase out the use of margin financing and increase reliance on MSF to provide faith-sensitive and committed investors with Shariah-compliant financing options.

Keywords: margin financing, marginable stocks, faith sensitive investor, Murabahah shares financing

Procedia PDF Downloads 38

Authors: James Barmby

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Canada’s westernmost provinces of British Columbia and Alberta are similar in many respects as they are both reliant on volatile natural resources for major portions of their economies. The two provinces have banded together to develop mutually beneficial trade, investment and labour market mobility rules, but in terms of developing systems of higher education, the two provinces are attempting to align higher education programs to economic development objectives by means that are quite different. In British Columbia, the recently announced initiative, B.C’s Skills for Jobs Blueprint will “make sure education and training programs are aligned with the demands of the labor market.” Meanwhile in Alberta, the province’s institutions of higher education are enjoying the tenth year of their membership in the Campus Alberta Quality Council, which makes recommendations to government on issues related to post-secondary education, including the approval of new programs. In B.C., public institutions of higher education are encouraged to comply with government objectives, and are rewarded with targeted funds for their efforts. In Alberta, the institutions as a system tell the government what programs they want to offer and government can agree or not agree to fund these programs through a ministerial approval process. In comparing the two higher education systems, the question emerges as to which one is more beneficial to the province: the one where change is directed primarily by financial incentives to achieve economic objectives or the one that makes recommendations to the government for changes in programs to achieve institutional objectives? How is institutional autonomy affected in each strategy? Does institutional autonomy matter anymore? In recent years, much has been written in regard to academic freedom, but less about institutional autonomy, which is seen by many as essential to protecting academic freedom. However, while institutional autonomy means freedom from government control, it does not necessarily mean self-government. In this study, a comparison of the two higher education systems is made using recent government policy initiatives in both provinces, and responses to those actions by the higher education institutions. The findings indicate that the economic needs in both provinces take precedence over issues of institutional autonomy.

Keywords: alberta, British Columbia, institutional autonomy, funding

Procedia PDF Downloads 674

Authors: Selamat Muliadi

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This study aimed to explain conceptual the role of Zakat on sustainable economic development by Rumah Zakat. Rumah Zakat is a philanthropic institution that manages zakat and other social funds through community empowerment programs. In running the program, including economic empowerment and socio health services are designed for these recipients. Rumah Zakat's connection with the establisment of Sustainable Development Goals (SDGs) which is to help impoverished recipients economically and socially. It’s an important agenda that the government input into national development, even the region. The primary goal of Zakat on sustainable economic development, not only limited to economic variables but based on Islamic principles, has comprehensive characteristics. The characteristics include moral, material, spiritual, and social aspects. In other words, sustainable economic development is closely related to improving people’s living standard (Mustahiq). The findings provide empiricial evidence regarding the positive contribution and effectiveness of zakat targeting in reducing poverty and improve the welfare of people related with the management of zakat. The purpose of this study was to identify the role of Zakat on sustainable economic development, which was applied by Rumah Zakat. This study used descriptive method and qualitative analysis. The data source was secondary data collected from documents and texts related to the research topic, be it books, articles, newspapers, journals, or others. The results showed that the role of zakat on sustainable economic development by Rumah Zakat has been quite good and in accordance with the principle of Islamic economics. Rumah Zakat programs are adapted to support intended development. The contribution of the productive program implementation has been aligned with four goals in the Sustainable Development Goals, i.e., Senyum Juara (Quality Education), Senyum Lestari (Clean Water and Sanitation), Senyum Mandiri (Entrepreneur Program) and Senyum Sehat (Free Maternity Clinic). The performance of zakat in the sustainable economic empowerment community at Rumah Zakat is taking into account dimensions such as input, process, output, and outcome.

Keywords: Zakat, social welfare, sustainable economic development, charity

Procedia PDF Downloads 107

Authors: S. Jabeen

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Though Pakistan has a rich cultural history and a diverse population; its global image is tarnished with labels of Muslim ‘fundamentalism’ and ‘extremism.’ Cultural policy is a tool that can be used by the government of Pakistan to ameliorate this image, but instead, this fundamentalist reputation is reinforced in the 2005 draft of Pakistan’s cultural policy. With its stern focus on a homogenized cultural identity, this 2005 draft bases itself largely on forced participation from the largely Muslim public and leaves little or no benefits to them or cultural minorities in Pakistan. The effects of this homogenized ‘Muslim’ identity linger ten years later where the study and celebration of the cultural heritage of Pakistan in schools and educational festivals focus entirely on creating and maintaining a singular ‘Islamic’ cultural identity. The current lack of inclusion has many adverse effects that include the breeding of extremist mindsets through the usurpation of minority rights and lack of safe cultural public spaces. This paper argues that Pakistan can improve social inclusivity and boost its global image through cultural policy. The paper sets the grounds for research by surveying the effectiveness of different cultural policies across nations with differing socioeconomic status. Then, by sampling two public literary festivals in Pakistan as case studies, the National Youth Peace Festival hosted with a nationalistic agenda using public funds and the Lahore Literary Festival (LLF) that aims to boost the cultural literacy scene of Lahore using both private and public efforts, this paper looks at the success of the private, more inclusive LLF. A revision of cultural policy is suggested that combines public and private efforts to host cultural festivals for the sake of cultural celebration and human development, without a set nationalistic agenda. Consequently, this comparison which is grounded in the human capabilities approach, recommends revising the 2005 draft of the Cultural Policy to improve human capabilities in order to support cultural diversity and ultimately contribute to economic growth in Pakistan.

Keywords: cultural policy, festivals, human capabilities, Pakistan

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Authors: Aasim Siddiqui

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In a country where 45.6 per cent of the total population lives below the poverty line, according to the Human Development Report 2014 by UNDP, an increasing number of private companies are now dedicating their resources to remedy this situation of chronic poverty. Most corporations in Pakistan now have a separate and dedicated department for Corporate Social Responsibility (CSR), albeit with varying goals and hence different strategies for achieving those goals. Similarly, Marine Group of Companies (MRGC) also has a robust CSR policy which the group implements through a Non-Government Organization (NGO) called Organization for Social Development Initiatives (OSDI). This organization, which operates under the ambit of MRGC’s CSR division, has a concentrated focus on helping the poorest communities in the rural areas of Pakistan to break out of intergenerational poverty. This paper maps the theoretical strategies as well as practical activities undertaken by OSDI for poverty alleviation via rural development in Pakistan. To obtain in-depth information of demographics, livelihood and socio-economic indicators in OSDI’s focused districts; a combination of quantitative and qualitative research methodologies was used during the course of this research. The paper highlights and explains OSDI’s unique three-pronged approach which aims at reducing poverty through income generation via the livelihood assistance program and through the provision of access to the most basic services (including health and education) via the community development and food security programs. Modeled on the concept of capacity building, OSDI’s modus operandi is centered on disbursing timely microcredit facilities to farmers who can benefit from these funds by investing in productive assets to foster financial capability for the future. With a focus on increasing the income of poor farmers, OSDI’s approach is to integrate all the socio-economic facets: education, health and sanitation and food security, to induce a sustained positive impact on their living standards.

Keywords: CSR, poverty, rural, sustainability

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Authors: Zintle Sikhunyana

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Management of public finance in many countries such as South Africa is affected by political decisions and by policies around fiscal decentralization amongst the government spheres. Economic success is said to be determined by efficient management of public finance and by the policies or strategies that are implemented to support efficient public finance management. Policymakers focus on pay attention to how economic policies have been implemented and how they are directed into ensuring stable development. This will allow policymakers to address economic challenges through the usage of fiscal policy parameters that are linked to the achieved rate of economic growth and development. Efficient public finance management reduces the likelihood of corruption and corruption is said to have negative effects on economic growth and development. Corruption in public finance refers to an act of using funds for personal benefits. To achieve macroeconomic objectives, governments make use of government expenditure and government expenditure is financed through tax revenue. The main aim of this paper is to investigate the potential impact of public finance management on economic growth and development in South Africa. The secondary data obtained from the South African Reserve Bank (SARB) and World Bank for 1980- 2020 has been utilized to achieve the research objectives. To test the impact of public finance management on economic growth and development, the study will use Seeming Unrelated Regression Equation (SURE) Modelling that allows researchers to model multiple equations with interdependent variables. The advantages of using SUR are that it efficiently allows estimation of relationships between variables by combining information on different equations and SUR test restrictions that involve parameters in different equations. The findings have shown that there is a positive relationship between efficient public finance management and economic growth/development. The findings also show that efficient public finance management has an indirect positive impact on economic growth and development. Corruption has a negative impact on economic growth and development. It results in an efficient allocation of government resources and thereby improves economic growth and development. The study recommends that governments who aim to stimulate economic growth and development should target and strengthen public finance management policies or strategies.

Keywords: corruption, economic growth, economic development, public finance management, fiscal decentralization

Procedia PDF Downloads 172

Authors: Suleiman Garba, Haruna Ishaku

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Information and communication technology (ICT) includes any communication device encompassing: radio, television, cellular phones, computer, satellite systems and so on, as well as the various services and applications associated with them. The significance of ICT cannot be over-emphasized in education. The teaching and learning processes have integrated with the application of ICTs for effectiveness and enhancement of academic performance among the students. Today, as the educational sector is faced with series of changes and reforms, it was noted that the problem of information technology illiteracy was a serious one among the schools’ teachers in the country as it cuts across primary, secondary schools and tertiary institutions. This study investigated the impact of ICT on the academic performance of senior secondary schools students in Gwagwalada Area Council of Federal Capital Territory (FCT), Abuja. A sample of 120 SSS III students was involved in the study. They were selected by using simple random sampling technique. A questionnaire was developed and validated through expert judgement and reliability co-efficient of 0.81 was obtained. It was used to gather relevant data from the respondents. Findings revealed that there was positive impact of ICT on academic performance of senior secondary schools students. The findings indicated the causes of poor academic performance among the students as lack of qualified teachers to teach in schools, peer group influence, and bullying. Significantly, the findings revealed that ICT had a positive impact on students’ academic performance. The null hypotheses were tested using t-test at 0.05 level of significance. It was discovered that there was significant difference between male and female secondary schools’ students' impact of ICT on academic performance in Gwagawalada Area Council of FCT-Abuja. Based on these findings, some recommendations were made which include: adequate funds should be provided towards procurement of ICT resources, relevant textbooks to enhance students’ active participation in learning processes and students should be provided with internet accessibility at inexpensive rate so as to create a platform for accessing useful information in the pursuit of academic excellence.

Keywords: academic performance, impact, information communication technology, schools, students

Procedia PDF Downloads 197

Authors: Damien Kunjal, Faeezah Peerbhai

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Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

Procedia PDF Downloads 130

Authors: Kung-Jen Tu

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Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: design evaluation method, management fund, operational and capital expenses, rental apartment buildings

Procedia PDF Downloads 273

Authors: R. M. W. Rajapakshe

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Sri Lanka, which is officially called the Democratic Socialist Republic of Sri Lanka is an island nation situated near India. It is a multi-lingual, multi- religious and multi – ethnic country, where Sinhalese form the majority and the Tamils form the largest ethnic minority. The composition of the population (ethnic basis) in Sri Lanka is as follows: Sinhalese: 74.5%, Tamil (Sri Lankan): 12.6%, Muslim: 7.5 %, Tamil (Indian): 5.5%, Malay: 0.3%, Burgher: 0.3 %, other: 0.2 %. The Tamil people use the Tamil language as their mother tongue and the Sinhala people use the Sinhala language as their mother tongue. A very few people in both communities use English as their mother tongue and however, a large number of people use English as a second language. The Sinhala Language was declared the only official language in Sri Lanka in 1959. However, it was not acceptable to Tamil politicians as well as to the common Tamil people and it was the beginning of long standing ethnic crisis which later became a military war where a lot of blood was shed. As a solution to the above ethnic crisis the thirteenth amendment to the constitution of Sri Lanka was introduced in 1987 and according to it both Sinhala and Tamil were declared official languages and English as the link language in Sri Lanka. Thus, a new programme namely, second language teaching programme under which Sinhala was taught to Tamil students and Tamil was taught to Sinhala students, was introduced at government schools. Language teaching includes knowledge of the culture of the target language. As all cultures are mixed and have common features students have reduced their enmity about the other community and learned to respect the other culture. On the other hand as all languages are mixed, students came to the understanding that there are no pure languages. Thus, they learned to respect the other language. In the case of Sri Lanka the Sinhala language is mixed with the Tamil language and vice versa. Thus, the development of second language teaching is the prominent way to solve the above ethnic problem and this study clearly shows it. However, the above programme suffers with lack of trained second language teachers, infrastructure facilities and insufficient funds and, they can be considered as the main obstacles to develop the second language teaching programme. Yet, there are no satisfactory answers to those problems. The data were collected from relevant books, articles and other documents based on research and forty five recordings, each with one hour duration, of natural conversations covering all factions of the Sinhala community.

Keywords: ethnic crisis, official language, second language teaching, Sinhala, Tami

Procedia PDF Downloads 322

Authors: Sudipto Sarkar

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Capital is the primary fuel for starting and running a business. Since capital is crucial for every business, entrepreneurs must successfully acquire adequate capital for executing their projects. Sources for the necessary capital for entrepreneurs include their own personal funds from existing bank accounts, or lines of credit or loans from banks or financial institutions, or equity funding from investors. The most commonly selected source of capital is a bank loan. However, acquiring a loan by any entrepreneur requires adhering to strict guidelines, conditions and norms. Because not only they have to show evidence for viability of the project, but also the means to return the acquired loan. On the bank’s part, it requires that every loan officer performs a thorough credit appraisal of the prospective borrowers and makes decisions about whether or not to lend money, how much to lend, and what conditions should be attached to it. Moreover, these credit decisions in general were often based on biases, analytical techniques, or prior experience. A loan can either turn out to be good or poor, irrespective of what type of credit decisions were followed. However, based on prior experience, the loan officers seem to differentiate between a good and a bad loan by examining the borrower’s credit history, pattern of borrowing, volume of borrowing, frequency of borrowing, and reasons for borrowing. As per an article written by Maureen Wallenfang on postcrescent.com dated May 10, 2010, it is observed that borrowers with good credit, solid business plans and adequate collateral security were able to procure loans very easily in the Fox Valley region. Since loans are required to run businesses, and also with the propensity of loans to become bad, loan officers tend to be very critical and cautious before approving and disbursing the loans. The pressure to be critical and cautious, at least partly, is a result of increased scrutiny by the Securities and Exchange Commission. As per Wall Street Journal (Sidel & Eaglesham, March, 3 2011, online), the Securities and Exchange Commission scrutinized banks that have restructured troubled loans in order to make them appear healthier than they really are. Therefore, loan officers’ loan criteria are of immense importance for entrepreneurs and banks alike.

Keywords: entrepreneur, loans, marketing, banks

Procedia PDF Downloads 231