Search results for: policy effectiveness

Authors: Xiangrong Liu, Chuanhui Xiong

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With the concern of large pollution emissions from coal-fired power plants and new commitment to green energy, global solar power industry was emerging recently. Due to the advanced technology, the price of solar photovoltaic(PV) module was reduced at a fast rate, which arose an interesting but challenge question to solar supply chain. This research is modeling the inventory strategies for a PV supply chain with a PV manufacturer, an assembler and an end customer. Through characterizing the manufacturer's and PV assembler's optimal decision in decentralized and centralized situation, this study shed light on how to improve supply chain performance through parameters setting in the contract design. The results suggest the assembler to lower the optimal stock level gradually each period before price reduction and set up a newsvendor base-stock policy in all periods after price reduction. As to the PV module manufacturer, a non-stationary produce-up-to policy is optimal.

Keywords: photovoltaic, supply chain, inventory policy, base-stock policy

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Authors: Abel Olusegun Egunjobi, Olusegun Oyeleye Adesanya

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Teaching effectiveness of lecturers in a tertiary institution in Nigeria is one of the determinants of the lecturer’s productivity. In this study, therefore, lecturers’ teaching effectiveness was examined vis-à-vis their multimedia technologies utilisation in Colleges of Education (CoE) in South-West, Nigeria. This is for the purpose of ascertaining the relationship and contribution of multimedia technologies utilisation to lecturers’ teaching effectiveness in Nigerian colleges of education. The descriptive survey research design was adopted in the study, while a multi-stage sampling procedure was used in the study. A stratified sampling technique was used to select colleges of education, and a simple random sampling method was employed to select lecturers from the selected colleges of education. A total of 862 lecturers (627 males and 235 females) were selected from the colleges of education used for the study. The instrument used was lecturers’ questionnaire on multimedia technologies utilisation and teaching effectiveness with a reliability coefficient of 0.85 at 0.05 level of significance. The data collected were analysed using descriptive statistics, multiple regression, and t-test. The findings showed that the level of multimedia technologies utilisation in colleges of education was low, whereas lecturers’ teaching effectiveness was high. Findings also revealed that the lecturers used multimedia technologies purposely for personal and professional developments, so also for up to date news on economic and political matters. Also, findings indicated that laptop, Ipad, CD-ROMs, and computer instructional software were the multimedia technologies frequently utilised by the lecturers. There was also a significant difference in the teaching effectiveness between lecturers in the Federal and State COE. The government should, therefore, make adequate provision for multimedia technologies in the COE in Nigeria for lecturers’ utilisation in their instructions so as to boost their students’ learning outcomes.

Keywords: colleges of education, lecturers’ teaching effectiveness, multimedia technologies utilisation, Southwest Nigeria

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Authors: Athira Vinod

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Under the Right to Education Act (2009), the Indian government introduced an affirmative action policy aimed at the reservation of seats in private schools at the entry-level and free primary education for children from lower socio-economic backgrounds. Using exogenous variation in the status of being in a lower social category (disadvantaged groups) and the year of starting school, this study investigates the effect of exposure to the policy on the expenditure on private education. It employs a difference-in-difference strategy with the help of repeated cross-sectional household data from the National Sample Survey (NSS) of India. It also exploits regional variation in exposure by combining the household data with administrative data on schools from the District Information System for Education (DISE). The study compares the outcome across two age cohorts of disadvantaged groups, starting school at different times, that is, before and after the policy. Regional variation in exposure is proxied with a measure of enrolment rate under the policy, calculated at the district level. The study finds that exposure to the policy led to an average reduction in annual private school fees of ₹223. Similarly, a 5% increase in the rate of enrolment under the policy in a district was associated with a reduction in annual private school fees of ₹240. Furthermore, there was a larger effect of the policy among households with a higher demand for private education. However, the effect is not due to fees waived through direct enrolment under the policy but rather an increase in the supply of low-fee private schools in India. The study finds that after the policy, 79,870 more private schools entered the market due to an increased demand for private education. The new schools, on average, charged a lower fee than existing schools and had a higher enrolment of children exposed to the policy. Additionally, the district-level variation in the enrolment under the policy was very strongly correlated with the entry of new schools, which not only charged a low fee but also had a higher enrolment under the policy. Results suggest that few disadvantaged children were admitted directly under the policy, but many were attending private schools, which were largely low-fee. This implies that disadvantaged households were willing to pay a lower fee to secure a place in a private school even if they did not receive a free place under the policy.

Keywords: affirmative action, disadvantaged groups, private schools, right to education act, school fees

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Authors: Malinda Gayan Sirisena

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The aim of this research is to evaluate the effectiveness of software quality assurance approaches of Sri Lankan offshore software development organizations, and to propose a framework which could be used across all offshore software development organizations. An empirical study was conducted using derived framework from popular software quality evaluation models. The research instrument employed was a questionnaire survey among thirty seven Sri Lankan registered offshore software development organizations. The findings demonstrate a positive view of Effectiveness of Software Quality Assurance – the stronger predictors of Stability, Installability, Correctness, Testability and Changeability. The present study’s recommendations indicate a need for much emphasis on software quality assurance for the Sri Lankan offshore software development organizations.

Keywords: software quality assurance (SQA), offshore software development, quality assurance evaluation models, effectiveness of quality assurance

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Authors: Parma Chakravartti

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The impact of government spending and taxation on economic growth has remained a central issue of fiscal policy analysis. There is a wide range of opinions over the strength of fiscal policy’s effect on macroeconomic variables. It can be argued that the impact of fiscal policy depends on the structure and economic condition of the economy. This study makes an attempt to examine the effect of fiscal policy shocks on growth in India using the structural vector autoregressive model (SVAR), considering data from 1950 to 2019. The study finds that government spending is an important instrument of growth in India, where the share of revenue expenditure to capital expenditure plays a key role. The optimum composition of total expenditure is important for growth and it is not necessarily true that capital expenditure multiplier is more than revenue expenditure multiplier. The study also finds that the impact of public economic activities on private economic activities for both consumption expenditure and gross capital formation of government crowds in private consumption expenditure and private gross capital formation, respectively, thus indicating that government expenditure complements private expenditure in India.

Keywords: government spending, fiscal policy, multiplier, growth

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Authors: Sanjay Kumar Srivastava, Rajesh Srivastava

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Human resource is the key point of success of any economy. From the past few decades, policies started to move in the route of expanding inclusive education with effective involvement of government.Governments of developing nations are generating policies for educational upliftment. Applying educational policies, the motive of the government is to maintain and develop the effective human resource within a society. The attention of the government includes primary education to higher education. It also involves professional training programmes related to every discipline. The aim of this paper is to find out the government policies in terms of expenditure and achievements for inclusive education to develop human resources in developing countries. A case of Indian experience has been taken into consideration. This approach generates a picture as to how India is enriching its educational system for human resource development and this research study will be useful for the policy makers to determine the appropriate level of overall spending of government and achievements in the education system for human resource development. Analytical research methodology has been adopted.

Keywords: government policies, inclusive education, National Educational Policy, NCERT

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Authors: Shaila Rana, Wasim Alhamdani

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Effective cybersecurity training is of the utmost importance, given the plethora of attacks that continue to increase in complexity and ubiquity. VR cybersecurity training remains a starkly understudied discipline. Studies that evaluated the effectiveness of VR cybersecurity training over traditional methods are required. An engaging and interactive platform can support knowledge retention of the training material. Consequently, an effective form of cybersecurity training is required to support a culture of cybersecurity awareness. Measurements of effectiveness varied throughout the studies, with surveys and observations being the two most utilized forms of evaluating effectiveness. Further research is needed to evaluate the effectiveness of VR cybersecurity training and traditional training. Additionally, research for evaluating if VR cybersecurity training is more effective than traditional methods is vital. This paper proposes a methodology to compare the two cybersecurity training methods and their effectiveness. The proposed framework includes developing both VR and traditional cybersecurity training methods and delivering them to at least 100 users. A quiz along with a survey will be administered and statistically analyzed to determine if there is a difference in knowledge retention and user satisfaction. The aim of this paper is to bring attention to the need to study VR cybersecurity training and its effectiveness compared to traditional training methods. This paper hopes to contribute to the cybersecurity training field by providing an effective way to train users for security awareness. If VR training is deemed more effective, this could create a new direction for cybersecurity training practices.

Keywords: virtual reality cybersecurity training, VR cybersecurity training, traditional cybersecurity training

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Authors: Romeu Bonk Mesquita

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Argentina is the South American number 1 country of destiny to intraregional migration flows. This research aims to shed light on the main trends of the Argentine immigrant policy from 2016 on, when Mauricio Marci was elected President, taking the approval of the current and fairly protective of human rights Ley de Migraciones (2003) as an analytical starting point. Foreign Policy Analysis (FPA) serves as the theoretical background, highlighting decision-making processes and institutional designs that encourage or constraint political and social actors. The analysis goes through domestic and international levels, observing how immigration policy is formulated as a public policy and is simultaneously connected to Mercosur and other international organizations, such as the International Organization for Migration (IOM) and the United Nations High Commissioner for Refugees (UNHCR). Thus, the study revolves around the Direccion Nacional de Migraciones, which is the state agency in charge of executing the country’s immigrant policy, as to comprehend how its internal processes and the connections it has with both domestic and international institutions shape Argentina’s immigrant policy formulation and execution. Also, it aims to locate the migration agenda within the country’s contemporary social and political context. The methodology is qualitative, case-based and oriented by process-tracing techniques. Empirical evidence gathered includes official documents and data, media coverage and interviews to key-informants. Recent events, such as the Decreto de Necesidad y Urgencia 70/2017 issued by President Macri, and the return of discursive association between migration and criminality, indicate a trend of nationalization and securitization of the immigration policy in contemporary Argentina.

Keywords: Argentine foreign policy, human rights, immigrant policy, Mercosur

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Authors: Bishal Baniya

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This paper proposes the sustainability related policy areas for decarbonisation and value addition at an organizational level. General and public sector organizations around the world are usually significant in terms of consuming resources and producing waste – powered through their massive procurement capacity. However, these organizations also possess huge potential to cut resource use and emission as many of these organizations controls supply chain of goods/services. They can therefore be a trend setter and can easily lead other major economic sectors such as manufacturing, construction and mining, transportation, etc. in pursuit towards paradigm shift for sustainability. Whilst the environmental and social awareness has improved in recent years and they have identified policy areas to improve the organizational environmental performance, value addition to the core business of the organization hasn’t been understood and interpreted correctly. This paper therefore investigates ways to align sustainability policy measures in a way that it creates better value proposition relative to benchmark by accounting both eco and social efficiency. Preliminary analysis shows co-benefits other than resource and cost savings fosters the business cases for organizations and this can be achieved by better aligning the policy measures and engaging stakeholders.

Keywords: policy measures, environmental performance, value proposition, organisational level

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Authors: Anwar Hussain, Ahmed Imran, Farida Faisal, Fatima Sultana

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The present research evaluates a comparative assessment of dividend policy and share price across the South Asian countries including Pakistan, India and Sri-Lanka over the period of 2010 to 2014. Academic writers found that dividend policy and share price relationship is not same in south Asian market due to different reasons. Moreover, Panel Models used = for the evaluation of current study. In addition, Redundant fixed effect Likelihood and Hausman test used for determine of Common, Fixed and Random effect model. Therefore Indian market dividend policies play a fundamental role and significant impact on Market Share Prices. Although, present research found that different as compared to previous study that dividend policy have no impact on share price in Sri-Lanka and Pakistan.

Keywords: dividend policy, share price, South Asian countries, panel data analysis, theories and parameters of dividend

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Authors: Sharjeel Saleem

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The glass ceiling has been a burning issue for many researchers. In this research, we examine gender of the BOD, training and development, workforce diversity, positive attitude towards women, and employee acts as antecedents of glass ceiling. Furthermore, we also look for effects of glass ceiling on likelihood of female selection and promotion and on female effectiveness. Multiple linear regression conducted on data drawn from different public and private sector organizations support our hypotheses. The research, however, is limited to Faisalabad city and only females from minority group are targeted here.

Keywords: glass ceiling, stereotype attitudes, female effectiveness

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Authors: N. Ikasari, T. Sumransat, U. Eko, R. Kusumastuti

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Small and medium enterprises (SMEs) are regarded as the engine for economic development, notwithstanding their continuous financing conundrum. In the case of developing countries, access to finance is a reflection of the effectiveness of government policy. The widely accepted perspective to assess small businesses’ access to finance is that of economic view. The existing body of literature presents access to finance in three dimensions; they are accessibility, eligibility and affordability. Within this perspective, the role of socio-cultural has not explored. This study is aimed at investigating the existence of any socio-cultural factors within access to finance issue in Asian countries where governance is enriched by countries’ values and beliefs. The significance of this study is the instigation of supplementary dimension to assess access to finance that eventually contributes to the development of micro-finance policy. Indonesia and Thailand are selected as cases in point, where distinction is drawn on the level of cultural diversity and micro-finance policy in respective country. A questionnaire is used to collect information related to the three dimensions of access to finance as well as to explore alternative financing reasoning to elaborate the issue from the demand side. Questionnaires are distributed to 60 small business owners operating in Indonesia and the same number in Thailand. In order to present a complete understanding on the matter at hand, interviews with banks are conducted to capture the perspective as presented by the supply side. Research findings show that small business owners and banks in Indonesia and Thailand are in agreement that access to finance is not deemed as an issue. However, trust issue that exists mutually between financing users and providers leads small business owners in Indonesia to look for alternative financing other than banks. The findings contribute to the refinement of micro-financing policy in Indonesia and Thailand.

Keywords: access to finance, Indonesia, small and medium enterprises, Thailand

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Authors: Takashi Nakamura

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In the Tokyo metropolitan area, traffic congestion and long commute times are caused by overconcentration in the central area. To resolve these problems, a core business city development policy was adopted in 1988. The core business cities, which include Yokohama, Chiba, Saitama, Tachikawa, and others, have designated business facilities accumulation districts where assistance measures are applied. Focusing on Yokohama city, this study investigates the trends in the number of offices, employees, and commuters at 2001 and 2012 Economic Census, as well as the average commute time in the Tokyo metropolitan area from 2005 to 2015 Metropolitan Transportation Census. Surveys were administered in 2001 and 2012 Economic Census to participants who worked in Yokohama, according to their distribution in the city's 1,757 subregions. Four main findings emerged: (1) The number of offices increased in Yokohama when the number of offices decreased in the Tokyo metropolitan area overall. Additionally, the number of employees at Yokohama increased. (2) The number of commuters to Tokyo's central area increased from Saitama prefecture, Tokyo Tama area, and Tokyo central area. However, it decreased from other areas. (3) The average commute time in the Tokyo metropolitan area was 67.7 minutes in 2015, a slight decrease from 2005 and 2010. (4) The number of employees at business facilities accumulation districts in Yokohama city increased greatly.

Keywords: core business city development policy, commute time, number of employees, Yokohama city, distribution of employees

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Authors: Shreyas Jayasimha, Suneel Anand Sundharesan, Rohan Tigadi

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In the recent past, the United States of America and Russia were the only two dominant players in the field of space exploration and had a virtual monopoly in the field of space and technology. However, this has changed over the past few years. Many other nation states such as India, China, and the UK have made significant progress in this field. Amongst these nations, the growth and development of the Indian space program have been nothing short of a miracle. Starting recently, India has successfully launched a series of satellites including its much acclaimed Mangalyaan mission, which placed a satellite in Mars’ orbit. The fact that India was able to attain this feat in its attempt demonstrates the enormous growth potential and promise that the Indian space program holds for the coming years. However, unlike other space-faring nations, India does not have a comprehensive and consolidated space insurance policy. In this regard, it is pertinent to note that, the costs and risks involved in a administering a space program are enormous. Therefore, in the absence of a comprehensive space insurance policy, any losses from an unsuccessful will have to be borne by the state exchequer. Thus, in order to ensure that Indian space program continues on its upward trajectory, the Indian establishment should seriously consider formulating a comprehensive insurance policy. This paper intends to analyze the international best practices followed by other space-faring nations in relation to space insurance policy. Thereafter, the authors seek to examine the current regime in India relating to space insurance policy. Finally, the authors will conclude by providing a series of recommendations regarding the essential elements that should be part of any Indian space insurance policy regime.

Keywords: India, space insurance policy, space law, Indian space research organization

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Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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Authors: John Bosco Ngendakurio

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The key question this paper asks is, ‘how does the refugee encampment policy undermine refugees’ potentials and fail local economy in East African countries?’ It is important to develop a full understanding of the legacies of the encampment policy for refugees’ performances economically, socially, and politically. The negative impacts of the encampment policy include the lack of participation or access to opportunities outside the refugee camps such as employment, education, and local integration, unfair imprisonments and constant alienation of refugees, mental and physical health issues, just to name a few. Evidence suggests that refugee camps in East Africa have progressively become open detention centres due to their designs, their locations, and movement restrictions imposed on refugees. Such restrictions in a region that hosts millions of refugees do not only undermine refugees’ potentials, but it also hurts the local economy- host countries miss out in many ways. Outlining the negative impacts of the encampment policy will enable governments and relevant non-governmental actors, including policymakers, to re-consider this policy with the aim to improve refugees’ participation and contributions in the broader society, promote socially cohesive practices, and help millions of refugees gain independence and reach their potentials financially, socially and politically, finally and truly giving the voice to the voiceless. The encampment policy undermines the general human security in East Africa, and it is one of the migration practices showcasing East African governments’ lack of will to protect human rights, especially within the most vulnerable population groups such as refugees.

Keywords: migration policy, immigration, refugees, encampment, migration, integration, social cohesion

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Authors: Mrinal Saurabh Bhaskar, Rahul E Ravindranathan, Priyangana Borah

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Energy plays a key role and as a driving force for economic and social growth for any country. To manage the energy sources and its efficient utilization in different economic sectors, energy policy of a country is critical. The energy performance of a country is measured in Energy Intensity and India’s Energy Intensity due to several policies interventions has reduced from 0.53 toe/1000USD (2010) in the year 2000 to 0.38 toe/1000USD (2010) in the year 2014, which is about 28 per cent reduction. The Government of India has taken several initiates to manage their increasing energy demand and meet the climate change goals defined by them. The major policy milestones in India related to energy are (i) Enactment of Energy Conservation (EC) Act 2001 (ii) Establishment of Bureau of Energy Efficiency 2001 (iii) National Action Plan on Climate Change (iv) Launch of Demand Side Management schemes (v) Amendment of EC Act 2010 (vi) Launch of Perform Achieve and Trade scheme 2012. Through a critical review, this paper highlights the key energy policy interventions by India, its benefits and impact, challenges faced and efforts of the Government to overcome such challenges. Such take away would be helpful for other countries who are proposing to prepare or amend their energy policy for their different economic sectors.

Keywords: energy, efficiency, climate, policy

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Authors: Bibire Abdulkareem Hussein

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Job satisfaction and motivation are considered as major tools in sustaining institutional development, they are also the machinery used to achieve an institutional goals and objectives. However, it has been observed that some institutions failed in motivating and stimulating their workers; in contrast, workers may be motivated but not satisfied with the job and failed to perform efficiently and effectively. It is hoped that the study of this nature would be of significance value to all stakeholders in education specifically, lecturers in higher institutions in Nigeria. Also it significances will enhance lecturers’ effectiveness and performance in discharging their duties. It is against this backdrop that, this study investigated whether job satisfaction and motivation predict lecturers’ effectiveness in Nigeria Police Academy, Wudil, KanoState. The correlational research method was adopted for the study while purposive sampling technique was used to choose the institution and the sampled lectures (70). Simple random sampling technique was used to select one hundred cadets across the academy. Two instruments were used to elicit information from both lecturers and cadets. These were job satisfaction and motivation; and lecturers’ effectiveness Questionnaires. The instruments were subjected to pilot testing and found to have reliability coefficient of 0.69 and 0.71 respectively. The results of the study revealed that there was a significance relationship among job satisfaction, motivation and lecturers effectiveness in Nigeria Police Academy, Job satisfaction had a Beta weight (β) of .125, t = 3.253, p<0.05, Job motivation had a Beta weight (β) of .185, t = 3.849, p<0.05. There was a significance relationship between job satisfaction and lecturers’ effectiveness in Nigeria Police Academy the cal r is 0.21 while the crt r is 0.19. at p<0.05 and; there was a significance relationship between job motivation and lecturers effectiveness in Nigeria Police Academy the cal r is 0.20 while the crt r is 0.19 at p<0.05This study therefore concluded that there was a significance relationship among job satisfaction, motivation and lecturers effectiveness in Nigeria Police Academy s,In view of the findings of this study, the paper recommends that lecturers should be more pro-active and more effective in their primary assignment (teaching) in order to make meaningful impacts and inputs in the life of cadets and boost the standard of the academy. In the same vein, it is recommended that management should intensify efforts to improve lecturers’ welfares by providing more motivational techniques to enhance more productivity.

Keywords: academy, lecturers effectiveness, motivation, satisfaction

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Authors: Muftahu Jibirin Salihu, Hazri Jamil

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The persisting challenge of access and enrolment to higher education in commonwealth countries has been reported in several studies, including reports of the international organization such as World Bank, UNESCO among others however from the macro perspective. The overarching aim of this study is to examine alternative policy practices towards improving access to university education in Nigeria at meso level of policy practice from evidence base policy studies using one university as a case. The study adopted a qualitative approach to gain insightful understanding on the issue of the study employing a semi-structure interview and policy documents as the means for obtaining the data and other relevant information for the study. The participants of the study were purposively chosen which comprise of a number of individuals from the selected university and other related organization which responsible for the policies development and implementation of Nigerian higher education system. From the findings of the study, several initiatives have been taken at meso level to address this challenge including the introduction of the University Matriculation Program as an alternative route for enhancing to access to the university education. However, the study further provided a number of recommendations which aimed at improving access to university education such as improving the entry requirements, society orientation on university education and the issue of ranking of certificate among the Nigerian higher institutions of learning.

Keywords: policy practice, access, enrolment, university, education, Nigeria

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Authors: Jennifer Isabelle Rios Rendón, Ursula Sanchez, Dana Lee Baker

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Disability Policy in México has witnessed numerous changed throughout the years. Physical disabilities are more often recognized in Mexican culture. However, with an emerging focus on neurological disabilities or differences in individuals’ new policies are needed to serve better and understand the needs of these populations. The need to understand and communicate with local leaders is imperative, as the lens used to analyze autism has historically been from a Western school of thought. We are looking to comprehend the disability policy subsystem in México - specifically how autism is perceived, the language used to describe it, and how it ties to the cultural stigma of disabilities that exist in México. Therefore, to understand this, we seek to interview multiple policy leaders on their experience in autism and disability policy. The goal is to conduct qualitative research through interviews with local autism and disability leaders in México. This methodology aims to answer the questions of what language commonly and culturally is utilized in disability policy, the context of how autism is perceived in México, and in general, the lived experience of the disability policy leaders that take part in this effort in México. Local activists and policy leaders were initially found through an online search then collected using snowball sampling. The interviews were conducted through a series of pre-formulated questions that the policy leader answered via email or a phone conversation with the researchers. Acknowledging the importance of language and accessibility, the need for the content to be in both English and Spanish as well as auditory and visual is essential to take steps in the inclusion of a Neurodiverse group of leaders. This work is a demonstration of the framework of the investigation which hopes to create a more complete understanding of the policy and political culture around autism in México. Results of the project include new insight into the developing relationship between the President Andrés Manuel López Obrador’s administration, disability activists, and neurodiverse communities. The project contributes to denormalizing the legacy of white supremacy in autism related, historically rooted in the assumption that autism occurs predominantly in white communities.

Keywords: autism, disability leaders, disability policy, México, Neurodiversity

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Authors: Margarita Grushanina

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After several prominent central banks including European Central Bank (ECB), Federal Reserve System (Fed), Bank of Japan and Bank of England employed unconventional monetary policies in the aftermath of the financial crisis of 2008-2009 the problem of identification of the effects from such policies became of great interest. One of the main difficulties in identification of shocks from unconventional monetary policy measures in structural VAR analysis is that they often are anticipated, which leads to a non-fundamental MA representation of the VAR model. Moreover, the unconventional monetary policy actions may indirectly transmit to markets information about the future stance of the interest rate, which raises a question of the plausibility of the assumption of orthogonality between shocks from unconventional and conventional policy measures. This paper offers a method of identification that takes into account the abovementioned issues. The author uses factor-augmented VARs to increase the information set and identification through heteroskedasticity of error terms and rank restrictions on the errors’ second moments’ matrix to deal with the cross-correlation of the structural shocks.

Keywords: factor-augmented VARs, identification through heteroskedasticity, monetary policy, structural VARs

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Authors: Stefanie Behncke

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This paper analyses the effects of different macroprudential policy measures that have recently been implemented in Switzerland. Among them is the activation and the increase of the countercyclical capital buffer (CCB) and a tightening of loan-to-value (LTV) requirements. These measures were introduced to limit systemic risks in the Swiss mortgage and real estate markets. They were meant to affect mortgage growth, mortgage risks, and banks’ capital buffers. Evaluation of their quantitative effects provides insights for Swiss policymakers when reassessing their policy. It is also informative for policymakers in other countries who plan to introduce macroprudential instruments. We estimate the effects of the different macroprudential measures with a Differences-in-Differences estimator. Banks differ with respect to the relative importance of mortgages in their portfolio, their riskiness, and their capital buffers. Thus, some of the banks were more affected than others by the CCB, while others were more affected by the LTV requirements. Our analysis is made possible by an unusually informative bank panel data set. It combines data on newly issued mortgage loans and quantitative risk indicators such as LTV and loan-to-income (LTI) ratios with supervisory information on banks’ capital and liquidity situation and balance sheets. Our results suggest that the LTV cap of 90% was most effective. The proportion of new mortgages with a high LTV ratio was significantly reduced. This result does not only apply to the 90% LTV, but also to other threshold values (e.g. 80%, 75%) suggesting that the entire upper part of the LTV distribution was affected. Other outcomes such as the LTI distribution, the growth rates of mortgages and other credits, however, were not significantly affected. Regarding the activation and the increase of the CCB, we do not find any significant effects: neither LTV/LTI risk parameters nor mortgage and other credit growth rates were significantly reduced. This result may reflect that the size of the CCB (1% of relevant residential real estate risk-weighted assets at activation, respectively 2% at the increase) was not sufficiently high enough to trigger a distinct reaction between the banks most likely to be affected by the CCB and those serving as controls. Still, it might be have been effective in increasing the resilience in the overall banking system. From a policy perspective, these results suggest that targeted macroprudential policy measures can contribute to financial stability. In line with findings by others, caps on LTV reduced risk taking in Switzerland. To fully assess the effectiveness of the CCB, further experience is needed.

Keywords: banks, financial stability, macroprudential policy, mortgages

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Authors: Simeon Adebayo Oladipo

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Institutional administrators are currently facing pressure and challenges in their daily operations. Reasons for this may include the increasing multiplicity, uncertainty and tension that permeate institutional leadership. Authentic engagement for institutional leadership is premised on the ethical foundation that the leaders in the schools are engaged. The institutional effectiveness is dependent on the relationship that exists between the leaders and employees in the workplace. Leader’s self-awareness, relational transparency, emotional control, strong moral code and accountability have a positive influence on authentic engagement which variably determines leadership effectiveness. This study therefore examined the role of authentic engagement in effective school leadership; explored the interrelationship of authentic engagement indices in school leadership. The study adopted the descriptive research of the survey type using a quantitative method to gather data through a questionnaire among school leaders in Lagos State Tertiary Institutions. The population for the study consisted of all Heads of Departments, Deans and Principal Officers in Lagos State Tertiary Institutions. A sample size of 255 Heads of Departments, Deans and Principal Officers participated in the study. The data gathered were analyzed using descriptive and inferential statistical tools. The findings indicated that authentic engagement plays a crucial role in increasing leadership effectiveness amongst Heads of Departments, Deans and Principal Officers. The study recommended among others that there is a need for effective measures to enhance authentic engagement of institutional leadership practices through relevant educational support systems and effective quality control.

Keywords: authentic engagement, self-awareness, relational transparency, emotional control

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Authors: Diego Moya, Juan Paredes, Clay Aldas, Ramiro Tite, Prasad Kaparaju

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Globally, energy policy for geothermal development is addressed in different forms, depending on the economy, resources, country-development, environment aspects and technology access. Although some countries have established strong regulations and standards for geothermal exploration, exploitation and sustainable use at the policy level (government departments and institutions), others have discussed geothermal laws at legal levels (congress – a national legislative body of a country). Appropriate regulations are needed not only to meet local and international funding requirements but also to avoid speculation in the use of the geothermal resource. In this regards, this paper presents the results of a systematic, qualitative and critical literature review of geothermal energy policy worldwide addressing two scenarios: policy and legal levels. At first, literature is collected and classified from scientific and government sources regarding geothermal energy policy of the most advanced geothermal producing countries, including Iceland, New Zealand, Mexico, the USA, Central America, Italy, Japan, Philippines, Indonesia, Kenia, and Australia. This is followed by a systematic review of the literature aiming to know the best geothermal practices and what remains uncertain regarding geothermal policy implementation. This analysis is made considering the stages of geothermal production. Furthermore, a qualitative analysis is conducted comparing the findings across geothermal policies in the countries mentioned above. Then, a critical review aims to identify significant items in the field to be applied in countries with geothermal potential but with no or weak geothermal policies. Finally, patterns and relationships are detected, and conclusions are drawn.

Keywords: assessment, geothermal, energy policy, worldwide

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Authors: S. Yakubu, E. A. Isah

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One of the objectives of the school discipline policy is to instill discipline among students. However, despite the availability of this policy in various secondary schools in Nigeria, there seem to be numerous cases of indiscipline among students, which has become a source of concern to all stakeholders in the education sector. In an attempt to proffer possible solutions to this unending challenge, the study investigated the influence of knowledge and attitude on compliance of secondary school students towards school discipline policy in Ibadan North Local Government Area of Oyo State, Nigeria. The descriptive survey research design was employed to collect the requisite data. The multi-stage sampling procedure was adopted to select 570 respondents as the sample for the study. The data collected were analyzed using statistical measures of Mean, Standard deviation and Pearson Product Moment Correlation. The findings of the study showed that knowledge and compliance of school discipline policy among secondary school students in Ibadan North Local Government Area of Oyo State were significantly related (r =0.330, p<0.05). The study also revealed a significant relationship between attitude and compliance of school discipline policy among secondary school students in Ibadan North Local Government Area of Oyo State (r = 0.593, p<0.05). Based on the findings, it was recommended that school rules and regulations should be emphasized and given more awareness for easy compliance. Also, students should be encouraged to portray a positive attitude towards their respective rules and regulations.

Keywords: knowledge, attitude, compliance, school discipline policy

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Authors: Shuaibu Umar Abdul

Abstract:

This paper examines Nigeria’s foreign policy in the age of global terrorism. It worth saying that the threat of ‘terrorism’ is not peculiar to Western and Middle Eastern countries alone, its tentacles are now spreading all over, Africa inclusive. The issue of domestic terrorism in Nigeria has become pervasive since the return of democratic rule in 1999. This development has never been a witness in any form throughout the year of statehood in Nigeria, the issues of banditry, armed robbery, ritual killing, and criminal activities like kidnapping and pipeline vandalization, the breakdown of law and order, poorly managed infrastructural facilities and corruption remain synonymous to Nigeria. These acts of terrorism no doubt have constituted a challenge that necessitates the paradigm shift in Nigeria’s foreign policy. The study employed the conceptual framework of analysis to lead interrogation; secondary sources were used to generate data while descriptive and content analysis were considered for data presentation and interpretation. In view of the interrogation and discussion on the subject matter, the paper revealed that Nigerian government underrated and underestimated the strength of terrorism within and outside her policy hence, it becomes difficult to address. As a response to the findings and conclusion of the study, the paper recommends among others that Nigeria’s foreign policy has to be rethought, reshaped and remodeled in cognizance to the rising global terrorism for peace, growth and development in the country.

Keywords: foreign policy, globe, Nigeria, rethinking, terrorism

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Authors: Lucas Paganin, Viliam Makis

Abstract:

With the advent of globalization, the market competition has become a major issue for most companies. One of the main strategies to overcome this situation is the quality improvement of the product at a lower cost to meet customers’ expectations. In order to achieve the desired quality of products, it is important to control the process to meet the specifications, and to implement the optimal maintenance policy for the machines and the production lines. Thus, the overall objective is to reduce process variation and the production and maintenance costs. In this paper, an integrated model involving Statistical Process Control (SPC) and maintenance is developed to achieve this goal. Therefore, the main focus of this paper is to develop the jointly optimal maintenance and statistical process control policy minimizing the total long run expected average cost per unit time. In our model, the production process can go out of control due to either the deterioration of equipment or other assignable causes. The equipment is also subject to failures in any of the operating states due to deterioration and aging. Hence, the process mean is controlled by an Xbar control chart using equidistant sampling epochs. We assume that the machine inspection epochs are the times when the control chart signals an out-of-control condition, considering both true and false alarms. At these times, the production process will be stopped, and an investigation will be conducted not only to determine whether it is a true or false alarm, but also to identify the causes of the true alarm, whether it was caused by the change in the machine setting, by other assignable causes, or by both. If the system is out of control, the proper actions will be taken to bring it back to the in-control state. At these epochs, a maintenance action can be taken, which can be no action, or preventive replacement of the unit. When the equipment is in the failure state, a corrective maintenance action is performed, which can be minimal repair or replacement of the machine and the process is brought to the in-control state. SMDP framework is used to formulate and solve the joint control problem. Numerical example is developed to demonstrate the effectiveness of the control policy.

Keywords: maintenance, semi-Markov decision process, statistical process control, Xbar control chart

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Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

Abstract:

Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

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Authors: Jeong Ju Kim, Hee Yoon Chung, Dong Ho Rhee, Hyung Hee Cho

Abstract:

There is a gap at combustor-turbine interface where leakage flow comes out to prevent hot gas ingestion into the gas turbine nozzle platform. The leakage flow protects the nozzle endwall surface from the hot gas coming from combustor exit. For controlling flow’s stream, the gap’s geometry is transformed by changing fillet radius size. During the operation, step configuration is occurred that was unintended between combustor-turbine platform interface caused by thermal expansion or mismatched assembly. In this study, CFD simulations were performed to investigate the effect of the fillet and step on heat transfer and film cooling effectiveness on the nozzle platform. The Reynolds-averaged Navier-stokes equation was solved with turbulence model, SST k-omega. With the fillet configuration, predicted film cooling effectiveness results indicated that fillet radius size influences to enhance film cooling effectiveness. Predicted film cooling effectiveness results at forward facing step configuration indicated that step height influences to enhance film cooling effectiveness. We suggested that designer change a combustor-turbine interface configuration which was varied by fillet radius size near endwall gap when there was a step at combustor-turbine interface. Gap shape was modified by increasing fillet radius size near nozzle endwall. Also, fillet radius and step height were interacted with the film cooling effectiveness and heat transfer on endwall surface.

Keywords: gas turbine, film cooling effectiveness, endwall, fillet

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Authors: Nino Grigolaia

Abstract:

Introduction - The paper discusses the role of industrial policy in the development of the economy in the country. The main challenges on the way to the implementation of industrial policy are analyzed: the long-term period of industrial policy, the risk of changes in priorities, the limited scope and external shocks. Methodology - Various research methods are used in the paper. The methods of induction, deduction, analysis, synthesis, analogy, correlation and statistical observation are used. Main Findings - Based on the analysis of the current situation in Georgia, the obstacles to the country's industrialization and its supporting factors are identified. Also, the challenges of the country's core industrial policies are revealed. Specific industry development strategies, ways of state support and main directions of new industrial policies are identified. Conclusion - The paper concludes that the development of the industrial sector is critical for the future growth and development of the Georgian economy, which will accelerate the industrialization and structural transformation processes, reduce the trade deficit, increase the exports and create more jobs in the country. The listed changes will guarantee the improvement of the socio-economic situation of the population. Accordingly, it is revealed that the study of industrial policy in Georgia is still actual. Based on the analysis, relevant conclusions in the field of industrialization of the country are developed and recommendations are proposed.

Keywords: industrialization , industrial policy, industrialization of the economy, Georgia priorities

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