Search results for: post 2000 period
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 9535

Search results for: post 2000 period

9535 Ownership Structure and Portfolio Performance: Pre- and Post-Crisis Evidence from the Amman Stock Exchange

Authors: Mohammad Q. M. Momani

Abstract:

The objective of this study is to examine whether the value relevance of ownership structure changed as the Amman Stock Exchange market conditions changed. Using data from 2005 to 2014, the study finds that the performance of portfolios that contain firms with concentrated ownership structure declines significantly during the post-crisis period. These portfolios exhibit poor performance relative to portfolios that contain firms with dispersed ownership structure during the post-crisis period. The results argue that uninspired performance of the Amman Stock Exchange during the post-crisis period, increased the incentives for controlling shareholders to expropriate. Investors recognized these incentives and discounted firms that were more likely to expropriate.

Keywords: value relevance, ownership structure, portfolio performance, Jordan, ASE

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9534 Analyzing the Impact of Global Financial Crisis on Interconnectedness of Asian Stock Markets Using Network Science

Authors: Jitendra Aswani

Abstract:

In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that.

Keywords: global financial crisis, Asian stock markets, network science, Kruskal algorithm

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9533 The Performance of Saudi Banking Industry 2000 -2011: Have the Banks Distinguished Themselves from One Another?

Authors: Bukhari M. S. Sillah, Imran Khokhar, Muhammad Nauman Khan

Abstract:

This paper studies the technical efficiency of Saudi banking sector using stochastic frontier model. A sample of 12 banks over the period 2000-2011 is selected to investigate their technical efficiencies in mobilizing deposits, producing investment and generating income. The banks are categorized as Saudi-owned banks, Saudi-foreign-owned banks and Islamic banks. The findings show some consistent pattern of these bank types; and there exist significant disparities among the banks in term of technical efficiency. The Banque Saudi Fransi stands out as a benchmark bank for the industry, and it is a Saudi-foreign owned bank type. The Saudi owned bank types have shown fluctuating performance during the period; and the Islamic bank types are no significantly different from Saudi-owned bank types.

Keywords: technical efficiency, production frontier model, Islamic banking

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9532 Impact of Sustainability Reporting on the Financial Performance of Deposit Money Banks: Pre-Post Analysis of Integrating Environmental, Social, and Governance Disclosure into Corporate Annual Reports

Authors: A. O. Talabi, F. M. Taib, D. J. Jalaludin

Abstract:

The influence of sustainability reporting on Deposit Money Banks (DMBs)' financial performance both before and after mandated environmental, social, and governance (ESG) disclosure is examined in this article. Using a sample size of the top six strategically important listed banks in Nigeria, the study employed the paired sample t-test to assess the pre-mandatory ESG period (2009-2015) and the post-mandatory ESG period (2016-2022). According to the findings, there was no discernible difference between the performance of DMBs in Nigeria before and after the requirement for ESG disclosure. In the pre-mandatory requirement time, sustainability reporting is a major predictor of financial metrics, but in the post-mandatory requirement period, there was no discernible change in financial performance. Market authorities ought to have unrestricted authority to impose severe fines for noncompliance and bring legal action against corporations that fail to disclose ESG. This work contributes to the literature on ESG disclosure and financial performance by considering two different periods.

Keywords: financial, performance, sustainability, reporting

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9531 Post-Exercise Effects of Cold Water Immersion over a 48-Hour Recovery Period on the Physical and Haematological Parameters of Male University-Level Rugby Players

Authors: Adele Broodryk, Cindy Pienaar, Martinique Sparks, Ben Coetzee

Abstract:

Background: Cold water immersion (CWI) is a popular recovery modality utilised. However, discrepancies exist regarding the results over a 48 hour recovery period. Aim: To evaluate the effects of CWI and passive recovery (PAR) on a range of haematological and physical parameters over a 48-hour using a cross-sectional, pre-post-test design. Subjects and Methods: Both the and physical parameters were evaluated at baseline, after a 15-min fitness session, and at 0, 24 and 48 hours post-recovery in 23 male university rugby players. The CWI group sat in a cold water pool (8°C) for 20 min whereas the PAR group remained seated. Results: At 0 hours post-CWI, three (blood lactate (BLa-), Sodium (Na+) and haemoglobin) returned to baseline values, however Vertical Jump Test (VJT) height results decreased whereas after PAR it improved. From 0 to 24 and/or 48 h, four (Partial Oxygen (PO2) VJT-height, plasma glucose, and Na+) significantly increased (p ≤ 0.05) in either and/or both groups. Significant intergroup differences (p ≤ 0.05) were noticed in the physical tests. Conclusions: PAR is superior as an acute modality (0 hours) due to CWI cooling the body down. However, CWI demonstrates advantageous over a 24-hour period in a wide range of haematological variables.

Keywords: cryotherapy, recuperation, haematological, rugby

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9530 Trade Policy Incentives and Economic Growth in Nigeria

Authors: Emmanuel Dele Balogun

Abstract:

This paper analyzes, using descriptive statistics and econometrics data which span the period 1981 to 2014 to gauge the effects of trade policy incentives on economic growth in Nigeria. It argues that the provided incentives penalize economic growth during pre-trade liberalization eras, but stimulated a rapid increase in total factor productivity during the post-liberalization period of 2000 to 2014. The trend analysis shows that Nigeria maintained high tariff walls in economic regulation eras which became low in post liberalization era. The protections were in favor of infant industries, which were mainly appendages of multinationals but against imports of competing food and finished consumer products. The trade openness index confirms the undue exposure of Nigeria’s economy to the vagaries of international market shocks; while banking sector recapitalization and new listing of telecommunications companies deepened the financial markets in post-liberalization era. The structure of economic incentives was biased in favor of construction, trade and services, but against the real sector despite protectionist policies. Total Factor Productivity (TFP) estimates show that the Nigerian economy suffered stagnation in pre-liberalization eras, but experienced rapid growth rates in post-liberalization eras. The regression results relating trade policy incentives to TFP growth rate yielded a significant but negative intercept suggesting that a non-interventionist policy could be detrimental to economic progress, while protective tariff which limits imports of competing products could spur productivity gains in domestic import substitutes beyond factor growth with market liberalization. The main constraint to the effectiveness of trade policy incentives is the failure of benefiting industries to leverage on the domestic factor endowments of the nation. This paper concludes that there is the need to review the current economic transformation strategies urgently with a view to provide policymakers with a better understanding of the most viable options that could make for rapid success.

Keywords: economic growth, macroeconomic incentives, total factor productivity, trade policies

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9529 Ifrs Adoption, Enforcement, and the Value Relevant of Accounting Amounts: The Particular Case of South Africa

Authors: Edward Chamisa, Colin C. Smith, Hamutyinei H. Pamburai, Abdul C. Abdulla

Abstract:

South Africa (SA) adopted International Financial Reporting Standards (IFRS) for listed firms effective 1 January 2005. However, it was not until 2011 that substantial financial reporting enforcement changes were introduced, which were meant to ensure compliance with IFRS. This innovative setting allows us to examine the value relevance of accounting amounts during the (1) pre-IFRS adoption period (2002-2004); (2) post-IFRS adoption, but pre-enforcement changes period (2006-2010); and (3) post-enforcement changes period (2011-2012). The results show that accounting amounts were most value relevant in the post-enforcement changes period (R2, 75.5%) compared to both the pre-IFRS adoption period (adjusted R2 is 24.3%) and the period after IFRS adoption but before enforcement changes (adjusted R2 is 37.5%). Also, during the 2008 financial crisis, the equity book value per share was significantly value relevant (at 1%) but not earnings per share, whereas before the crisis, the opposite was true. We make two important contributions to the literature. First, we identify SA as an innovative setting that allows researchers to examine separately the effects of IFRS adoption and enforcement changes on capital markets and accounting quality. This is a departure from prior studies that are dominated by the European Union setting, where IFRS adoption occurred contemporaneously with enforcement and other regulatory changes. Second, we provide preliminary findings which suggest that while the adoption of IFRS seems to have improved the financial reporting quality of accounting amounts of SA listed firms, its impact appears to be limited unless combined with effective enforcement.

Keywords: international financial reporting standards (ifrs), ifrs adoption, financial reporting enforcement, value relevance, price model, equity book value, earnings per share

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9528 The Millennium Development Goals and Algerian Economic Policy: Some Evidences

Authors: Abdelkader Guendouz, Fatima Zohra Adel

Abstract:

Even if both the economic and the human development are an axial pillar in its global policy, Algerian government seems to be more and more engaged in the international context aiming to reach of the so called millennium development goals, and this since its beginning. By looking closely at the Algerian economic policy, it is easy to mention the existence of several programs in which both economic and social realisations including among others, poverty reduction, enhancement of education level and conditions, woman statute and gender equity amelioration targets. The efforts of Algerian government in the field of these targets had been acheminated through three main plans, which are: -PSRE (Plan de Soutien à la Relance Economique), for the period of 2001 to 2004, initiated with about 7 billion US dollar, had been focused on three objectives, namely, poverty reduction, job creation and regional equilibrium with rural areas revitalization. -PCSC (le Programme complémentaire de soutien à la croissance économique), for the period of 2005 to 2009, with a starting funding of 114 billion US dollar. This program aims to develop public services and supporting public investments, especially in which concerns social infrastructures. Now, and at the end of the maturity of the MDGs agenda, an important question is to be asked: what are the main realizations regarding these MDGs? In order to answer this question, the present paper tries to examine the Algerian economic policy (but also the social one) by considering the MDGs challenges, for the period from 2000 to 2010, but also until 2015. This examination is focused on three main targets, namely poverty, education, and health. Firstly, statistical assessment for the Algerian economic and social situation shows that almost all MDGs had been reached during the period of 2000 to 2009 and it continues to maintain and improve them. This observation can be endorsed by invoking some achievements. Starting by the reduction of poverty, the proportion of population living with less than 1 US dollar per a day passed from 8.0 % in 2000 to 0.5 % in 2009, and 0.3 % in 2015. For education sphere, the enrolment ratio of six-year child, which is the most significant index for school attendance, is about 98 % for 2009 against 93 % in 1999, and only 43 % in 1966. Concluding with health care and relevant services; the Algerian government has accomplished big steps in providing easy access to this sector for the population. Moreover, the percentage of assisted accouchement had been raised from 91.2 % in 2000 to 97.2 % in 2009.

Keywords: Algerian economic policy, MDGs, poverty, education, health

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9527 Explorative Approach to the Evolving Administrative Landscape of South Africa

Authors: Z. I Jeeva

Abstract:

The establishment of municipalities in South Africa has been a long and difficult process; 25 years later, it still appears to be evolving. In 1994, the new democratic government undertook to restructure the country’s racially segregated administrative structure by integrating areas to form cohesive municipal entities that would allow for the more efficient administration management of the regions. It planned to achieve this within a short seven-year period from 1993 to 2000, which was to be divided into three phases, namely, the pre-interim phase from 1994 to1995, the interim phase from 1996 to 1999, and the post-interim phase from 2000 onwards. However, the extensive integrated municipal approach was easier to pen on paper than to implement in practice. This paper seeks to explore the South African spatial reform process from 1993 to 2020, by analyzing policy documents and literature in order to determine how exactly the government attempted to achieve this. The study found that the spatial restructuring process was particularly complex since the democratic government inherited an unequal society located on a fragmented spatial landscape of which there was limited knowledge with many unresolved issues. Furthermore, the study found that there is a lack of literature on the topic from an urban planning perspective and calls for further research to ensure the formation of more efficient administrative regions.

Keywords: categorization, demarcation, municipalities, racial integration, spatial reform

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9526 Impact of Climate Shift on Rainfall and Temperature Trend in Eastern Ganga Canal Command

Authors: Radha Krishan, Deepak Khare, Bhaskar R. Nikam, Ayush Chandrakar

Abstract:

Every irrigation project is planned considering long-term historical climatic conditions; however, the prompt climatic shift and change has come out with such circumstances which were inconceivable in the past. Considering this fact, scrutiny of rainfall and temperature trend has been carried out over the command area of Eastern Ganga Canal project for pre-climate shift period and post-climate shift periods in the present study. Non-parametric Mann-Kendall and Sen’s methods have been applied to study the trends in annual rainfall, seasonal rainfall, annual rainy day, monsoonal rainy days, average annual temperature and seasonal temperature. The results showed decreasing trend of 48.11 to 42.17 mm/decade in annual rainfall and 79.78 tSo 49.67 mm/decade in monsoon rainfall in pre-climate to post-climate shift periods, respectively. The decreasing trend of 1 to 4 days/decade has been observed in annual rainy days from pre-climate to post-climate shift period. Trends in temperature revealed that there were significant decreasing trends in annual (-0.03 ºC/yr), Kharif (-0.02 ºC/yr), Rabi (-0.04 ºC/yr) and summer (-0.02 ºC/yr) season temperature during pre-climate shift period, whereas the significant increasing trend (0.02 ºC/yr) has been observed in all the four parameters during post climate shift period. These results will help project managers in understanding the climate shift and lead them to develop alternative water management strategies.

Keywords: climate shift, rainfall trend, temperature trend, Mann-Kendall test, sen slope estimator, eastern Ganga canal command

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9525 The Effects of External Daminozide (ALAR) Application on Nutrient Contents in Memecik Olive Trees

Authors: Sahriye Sonmez, Salih Ulger, Mustafa Kaplan, Mustafa Karhan

Abstract:

The objective of this study was to investigate the effects of external ALAR application on nutrients contents in leaf and node in ‘on (bearing)’ and ‘off (non-bearing)’ years in Memecik olive trees. For this purpose; 2000 mg L-1 ALAR was externally applied to Memecik olive trees, and leaf and node samples from olive trees were taken during the induction, initiation and differentiation periods in ‘on’ and ‘off’ years. Nutrients contents (N, P, K, Ca, Mg, Fe, Mn, Zn and Cu) in leaf and node samples were determined. The K, Ca, Mg, Fe, Mn, Zn and Cu contents were determined by atomic absorption spectrophotometry, Nitrogen by Kjeldahl procedure, and P by a spectrophotometric method. The results showed that the N, Ca, Mg, Fe, Mn, Zn and Cu contents in ‘on’ year were higher than ‘off’ year while the K contents in ‘on’ year were lower than ‘off ‘ year, but the P content was not different. The N, Ca, Mg, Fe and Mn contents in leaf samples were higher in the node samples except for K while the P, Zn and Cu contents were not different. The N, K, Ca, Fe, Mn, Zn and Cu contents were lowest during the initiation period while the P content was highest in this period. The Mg content was not different in all period.

Keywords: bearing, differentiation period, induction period, initiation period, non bearing, olive

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9524 Assessing Natura 2000 Network Effectiveness in Landscape Conservation: A Case Study in Castile and León, Spain (1990-2018)

Authors: Paula García-Llamas, Polonia Díez González, Angela Taboada

Abstract:

In an era marked by unprecedented anthropogenic alterations to landscapes and biodiversity, the consequential loss of fauna, flora, and habitats poses a grave concern. It is imperative to evaluate our capacity to manage and mitigate such changes effectively. This study aims to scrutinize the efficacy of the Natura 2000 Network (NN2000) in landscape conservation within the autonomous community of Castile and Leon (Spain), spanning from 1990 to 2018. Leveraging land use change maps from the European Corine Land Cover database across four subperiods (1990-2000, 2000-2006, 2006-2012, and 2012-2018), we quantified alterations occurring both within NN2000 protected sites and within a 5km buffer zone. Additionally, we spatially assess land use/land cover patterns of change considering fluxes of various habitat types defined within NN2000. Our findings reveal that the protected areas under NN2000 were particularly susceptible to change, with the most significant transformations observed during the 1990-2000 period. Predominant change processes include secondary succession and scrubland formation due to land use cessation, deforestation, and agricultural intensification. While NN2000 demonstrates efficacy in curtailing urbanization and industrialization within buffer zones, its management measures have proven insufficient in safeguarding landscapes against the dynamic changes witnessed between 1990 and 2018, especially in relation to rural abandonment.

Keywords: Corine land cover, land cover changes, site of community importance, special protection area

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9523 Evolutionary Analysis of Influenza A (H1N1) Pdm 09 in Post Pandemic Period in Pakistan

Authors: Nazish Badar

Abstract:

In early 2009, Pandemic type A (H1N1) Influenza virus emerged globally. Since then, it has continued circulation causing considerable morbidity and mortality. The purpose of this study was to evaluate the evolutionary changes in Influenza A (H1N1) pdm09 viruses from 2009-15 and their relevance with the current vaccine viruses. Methods: Respiratory specimens were collected with influenza-like illness and Severe Acute Respiratory Illness. Samples were processed according to CDC protocol. Sequencing and phylogenetic analysis of Haemagglutinin (HA) and neuraminidase (NA) genes was carried out comparing representative isolates from Pakistan viruses. Results: Between Jan2009 - Feb 2016, 1870 (13.2%) samples were positive for influenza A out of 14086. During the pandemic period (2009–10), Influenza A/ H1N1pdm 09 was the dominant strain with 366 (45%) of total influenza positives. In the post-pandemic period (2011–2016), a total of 1066 (59.6%) cases were positive Influenza A/ H1N1pdm 09 with co-circulation of different Influenza A subtypes. Overall, the Pakistan A(H1N1) pdm09 viruses grouped in two genetic clades. Influenza A(H1N1)pdm09 viruses only ascribed to Clade 7 during the pandemic period whereas viruses belong to clade 7 (2011) and clade 6B (2015) during the post-pandemic years. Amino acid analysis of the HA gene revealed mutations at positions S220T, I338V and P100S specially associated with outbreaks in all the analyzed strains. Sequence analyses of post-pandemic A(H1N1)pdm09 viruses showed additional substitutions at antigenic sites; S179N,K180Q (SA), D185N, D239G (CA), S202A (SB) and at receptor binding sites; A13T, S200P when compared with pandemic period. Substitution at Genetic markers; A273T (69%), S200P/T (15%) and D239G (7.6%) associated with severity and E391K (69%) associated with virulence was identified in viruses isolated during 2015. Analysis of NA gene revealed outbreak markers; V106I (23%) among pandemic and N248D (100%) during post-pandemic Pakistan viruses. Additional N-Glycosylation site; HA S179N (23%), NA I23T(7.6%) and N44S (77%) in place of N386K(77%) were only found in post-pandemic viruses. All isolates showed histidine (H) at position 275 in NA indicating sensitivity to neuraminidase inhibitors. Conclusion: This study shows that the Influenza A(H1N1)pdm09 viruses from Pakistan clustered into two genetic clades, with co-circulation of some variants. Certain key substitutions in the receptor binding site and few changes indicative of virulence were also detected in post-pandemic strains. Therefore, it is imperative to continue monitoring of the viruses for early identification of potential variants of high virulence or emergence of drug-resistant variants.

Keywords: Influenza A (H1N1) pdm09, evolutionary analysis, post pandemic period, Pakistan

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9522 Structural Transformation after 2000 in Turkey Economy Evaluation as Theoretical in the Context of Inflation and Foreign Trade

Authors: Sadife Güngör, Sevilay Konya, Zeynep Karaçor

Abstract:

Inflation and foreign trade are the most important economic indicator of a country. In this study, Turkey's economy with the policies adopted after 2000, given how performs an economic transformation. This transformation of the economy is discussed with inflation and foreign trade. In this context, attention is drawn to 2001 Strong Economy and Transition Program and 2006 Inflation Targeting Regime. The evaluation was performed of after the year 2000 inflation and foreign trade figures in Turkey economy. When we looked the progress, after 2000 in Turkey economy, we can say a new process was built up.

Keywords: inflation, foreign trade, 2001 strong economy programme, 2006 inflation targeting regime

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9521 The Reduction of Post-Blast Fumes to Improve Productivity and Safety: A Review Paper

Authors: Nhleko Monique Chiloane

Abstract:

The gold mining industry has predominantly used ammonium nitrate fuel oil (ANFO) explosives for decades, although these are known to be “gassier” and their detonation results in toxic fumes, for example, carbon monoxide (CO), nitrogen oxides (NOx) and ammonia. Re-entry into underground workings too soon after blasting can lead to fatal exposure to toxic fumes. It is, therefore, required that the polluted air be removed from the affected areas within a reasonable period before employees' re-entry into the working area. Post-blast re-entry times have therefore been described as a productivity bottleneck. The known causes of post-blast fumes are water ingress, incorrect fuel to oxygen ratio, confinement, explosive additives etc. To prevent or minimize post-blast fumes, some researchers have used neutralization, re-burning technique and non-explosive products or different oxidizing agents. The use of commercial explosives without nitrate oxidizing agents can also minimize the production of blasting fumes and thereby reduce the time needed for the clearance of these fumes to allow workers to re-enter the underground workings safely. The reduction in non-production time directly contributes to an increase in the available time per shift for productive work, thus leading to continuous mining. However, owing to its low cost and ease of use, ANFO is still widely used in South African underground blasting operations.

Keywords: post-blast fumes, continuous mining, ammonium nitrate explosive, non-explosive blasting, re-entry period

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9520 An Investigation on Climate Responsive Design Strategies of Apartment Buildings in Athens of the Period 1920-1960s

Authors: Angeliki Chronopoulou, Eleni Alexandrou

Abstract:

This paper thoroughly investigates residential buildings of the period 1920 – 1960 in Athens and evaluates their bioclimatic response and energy performance. A methodology adapted to the specific context of the city is proposed and applied in order to assess and extract results related to the climate analysis of the city of Athens, the general/architectural design and construction characteristics of the apartment buildings constructed during the period 1920 – 1960, the bioclimatic strategies applied on them, and the achieved thermal comfort based on questionnaires answered by their users. The results of the current study indicate that the residential architecture of that period in the city of Athens is adapted to an extend to the local climate with various climate responsive strategies. As an outcome of the analysis, the most frequently applied depending on the period of construction are presented. For this reason, the examined period is divided into 3 sub – periods: 1st period 1920s – 1930s (late neoclassicism & eclecticism), 2nd period 1930s – 1940s (modernism), 3rd period 1940s – 1960s (postwar modernism).

Keywords: Athens, climatic design strategies, residential buildings, middle war and post war architecture, thermal comfort

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9519 Asymmetric Relation between Earnings and Returns

Authors: Seungmin Chee

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This paper investigates which of the two arguments, conservatism or liquidation option, is a true underlying driver of the asymmetric slope coefficient result regarding the association between earnings and returns. The analysis of the relation between earnings and returns in four mutually exclusive settings segmented by ‘profits vs. losses’ and ‘positive returns vs. negative returns’ suggests that liquidation option rather than conservatism is likely to cause the asymmetric slope coefficient result. Furthermore, this paper documents the temporal changes between Basu period (1963-1990) and post-Basu period (1990-2005). Although no significant change in degree of conservatism or value relevance of losses is reported, stronger negative relation between losses and positive returns is observed in the post-Basu period. Separate regression analysis of each quintile based on the rankings of price to sales ratio and book to market ratio suggests that the strong negative relation is driven by growth firms.

Keywords: conservatism, earnings, liquidation option, returns

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9518 IPO Valuation and Profitability Expectations: Evidence from the Italian Exchange

Authors: Matteo Bonaventura, Giancarlo Giudici

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This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.

Keywords: initial public offerings, DCF, book building, post-IPO profitability drop

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9517 Portrayal of Pak-US Relations in Perspective of Bin Laden Killing by the Leading American and British Newspapers: A Content Analysis of the Guardian, the Telegraph, Washington Post and the New York Times

Authors: Shahzad Ali

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This article expounds the coverage of Pak-US relations in the context of Osama Bin Laden killing in four selected leading newspapers of UK and the US viz The Telegraph, The Guardian, The New York Times and The Washington Post during the specific time period of three months, i.e., April-June, 2011. The study is scrutinized on the basis of Operation Neptune Spear. The research study is theoretically linked with the propaganda model of Herman and Chomsky and the Shoemaker and Reeve‘s theory of content effect, specifically the impact of foreign policy as a driving instrument influencing the nature and treatment of the coverage of Pak-US relations. The relations between Pakistan and USA are of great importance in the context of Bin Laden. The Pak-US relations were less aggravated and hostile in pre OBL period but post OBL period worsened these relations. It is also interesting to mention that the policies of these newspapers were dependent on the foreign policy of their countries. It was explored that the news coverage was found favorable as and when the relations Pakistan and the US or UK were cordial and smooth. And it turned into negative and unfavorable when the relations were in strain and deteriorating and endorsed various studies that the Western mainstream media tried to be more nationalistic in projecting official stance while covering foreign coverage instead of adhering to universal cannon of journalism, i.e., objectivity, fairness, and neutrality, etc. Overall 219 news items of these four selected newspapers regarding Pak-US relations in the context of pre and post OBL’s killing operation were undertaken for analysis. The ratio of negative slants was found higher as compared to the positive and neutral slants. Besides, the ratio of news items with unfavorable frames was found higher in post OBL operation in comparison of pre-era of the coverage related to Pak-US relations in the leading British and American newspapers.

Keywords: Osama Bin Laden, Pakistan, USA, UK, relations, Guardian, Washington Post, Telegraph, New York Times, Operation Neptune Spear

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9516 Ways to Effectively Use Tourism Potential Through International Marketing and PR Communication Strategy in the Post-pandemic Period (On the Example of Georgia)

Authors: Marine Kobalava

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The article analyzes the level of Georgia's tourism potential usage during the pandemic. The conclusion is drawnthat Georgia, as a tourism brand, is in a significant crisis at this stage, revenues from this sector have been substantially reduced, communication with potential customers is interrupted, no international marketing and PR communication strategies have been developed for the post-pandemic period. In order to rehabilitate the tourism industry of Georgia, it is considered vital to take measures using international marketing and PR communication strategies adjusted to the needs of the sectorthat will improve the use of tourism potential and stimulate the development of the sector. The goal of the research is to identify the factors hindering the use of tourism potential in the direction of international marketing and PR communication strategies in the post-pandemic period and to develop recommendations on ways to solve them. Research methods. The paper uses various theoretical and methodological tools of research, including Bibliographic research has been conducted on the main research issues; Analysis, synthesis, induction, and other methods are used to select and group data, identify similarities and differences, and identify trends; Endogenous and exogenous factors affecting the field of tourism have been studied by means of SWOT and PESTEL analyzes. A comparison model is used to analyze the strategy documents. Primary accounting materials are obtained from the National Statistics Office and the relevant ministries. Based on the results of the research, the directions of correct positioning of tourism products and marketing communication in the post-pandemic period have been developed. It is substantiated that a short-term international marketing strategy should include: probable goals of communication, maintaining a position on a potential traveler's “radar,” focusing communication on key motivating factors (gastronomy, winemaking, folklore, protected areas, mountainous regions). From a marketing point of view, it is important: holding international marketing events, compiling a list of target countries, formation of stimulus mechanisms, development of incentive programs for international tour operators, etc. The paper draws conclusions about the problems of using the tourism potential, recommendations on ways to solve this problems through international marketing and PR communication strategies are offered

Keywords: PR communication, international marketing strategy, tourism potential, post-pandemic period

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9515 Vénus Noire: A (Post)Colonial Gaze

Authors: Hania Pasandi

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Over his first three films, Abdellatif Kechiche established himself as one of the most celebrated directors at work in twenty-first-century French cinema. While his first three movies, La Faute à Voltaire (2000), L’Esquive (2003), and La Graine et le mulet (2007) tell stories about individuals of the Maghrebi origin or descent struggling to find their place in the contemporary French Republic, his 2010’s movie, Vénus noire (2010) recounts the true story of the so-called ‘Hottentot Venus’, Saartjie Baartman, who became famous after her stage appearances in London and Paris in the early eighteenth century. The movie shows the complex ways in which gender and ethnicity can combine in exclusionary discourse. This paper studies gender and racial identities, the irony of science theorisation about ethnicities through the male colonial gaze on a heavily exhibited woman. This paper explores how Vénus Noire engages the spectator’s own corporeal awareness of violence and calls attention to the othering practices of (post)colonial times.

Keywords: gender, (post)colonial gaze, other, violence

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9514 Comparison of Corneal Curvature Measurements Conducted with Tomey AO-2000® and the Current Standard Biometer IOL Master®

Authors: Mohd Radzi Hilmi, Khairidzan Mohd Kamal, Che Azemin Mohd Zulfaezal, Ariffin Azrin Esmady

Abstract:

Purpose: Corneal curvature (CC) is an important anterior segment parameter. This study compared CC measurements conducted with two optical devices in phakic eyes. Methods: Sixty phakic eyes of 30 patients were enrolled in this study. CC was measured three times with the optical biometer and topography-keratometer Tomey AO-2000 (Tomey Corporation, Nagoya, Japan), then with the standard partial optical coherence interferometry (PCI) IOL Master (Carl Zeiss Meditec, Dublin, CA) and data were statistically analysed. Results: The measurements resulted in a mean CC of 43.86 ± 1.57 D with Tomey AO-2000 and 43.84 ± 1.55 D with IOL Master. Distribution of data is normal, and no significance difference in CC values was detected (P = 0.952) between the two devices. Correlation between CC measurements was highly significant (r = 0. 99; P < 0.0001). The mean difference of CC values between devices was 0.017 D and 95% limit of agreement was -0.088 to 0.12. Duration taken for measurements with the standard biometer IOL Master was longer (55.17 ± 2.24 seconds) than with Tomey AO-2000 (39.88 ± 2.38 seconds) in automatic mode. Duration of manual measurement with Tomey AO-2000 in manual mode was the shortest (28.57 ± 2.71 seconds). Conclusion: In phakic eyes, CC measured with Tomey AO-2000 and IOL Master showed similar values, and high correlation was observed between these two devices. This shows that both devices can be used interchangeably. Tomey AO-2000 is better in terms of faster to operate and has its own topography systems.

Keywords: corneal topography, corneal curvature, IOL Master, Tomey AO2000

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9513 Brazilian Sign Language: A Synthesis of the Research in the Period from 2000 to 2017

Authors: Maria da Gloria Guara-Tavares

Abstract:

This article reports a synthesis of the research in Brazilian Sign Language conducted from 2000 to 2017. The objective of the synthesis was to identify the most researched areas and the most used methodologies. Articles published in three Brazilian journals of Translation Studies, unpublished dissertations and theses were included in the analysis. Abstracts and the method sections of the papers were scrutinized. Sixty studies were analyzed, and overall results indicate that the research in Brazilian Sign Language has been fragmented in several areas such as linguistic aspects, facial expressions, subtitling, identity issues, bilingualism, and interpretation strategies. Concerning research methods, the synthesis reveals that most research is qualitative in nature. Moreover, results show that the cognitive aspects of Brazilian Sign Language seem to be poorly explored. Implications for a future research agenda are also discussed.

Keywords: Brazilian sign language, qualitative methods, research agenda, synthesis

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9512 Rethinking Political Secularism in Iranian Context: Intellectual Struggle in Post-Reformist Period

Authors: Alphan Telek

Abstract:

Political secularism is different from philosophical secularism in terms of its inclusionary, peaceful, liberal and democratic aspects. Secularism as a political principle not only takes the separation of state and religion as a basis but also it aims to exclude any kind of ethnic, religious, racial, gender domination at the state level. Thus, although political secularism does not see any problem with the visibility and implementation of religious views and symbols in the public sphere, it stands against the fusion of political power and religious views or more generally any kind of identity. Iranian context especially the post-reformist period, which starts in 2005, shows religious and/or reformist intellectuals try to put forward the political secularism and make it attractable to the large masses. Three prominent figures of reformist intellectualism Abdolkarim Soroush, Mohsen Kadivar and Akbar Ganji form the basic vocabulary of political secularism in the post-reformist period of Iran. Their intellectual and political struggle against the Islamic regime’s anti-democratic policies and actions do carry significance not only for Iranian democracy but also for all Muslim people around the world that demand a more equal, free, and just society. The political and intellectual discourses of Iranian intellectuals indicate that political secularism is a requirement of democratic state and society. In this paper, it is discussed the relationship between political secularism, state, society, and Islam. Thus, it will be argued that secularism as a political principle is increasingly held by Iranian intellectuals to show the relation between secularism and democracy.

Keywords: political secularism, Iranian intellectuals, democracy, Middle East

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9511 Audit of Post-Caesarean Section Analgesia

Authors: Rachel Ashwell, Sally Millett

Abstract:

Introduction: Adequate post-operative pain relief is a key priority in the delivery of caesarean sections. This improves patient experience, reduces morbidity and enables optimal mother-infant interaction. Recommendations outlined in the NICE guidelines for caesarean section (CS) include offering peri-operative intrathecal/epidural diamorphine and post-operative opioid analgesics; offering non-steroidal anti-inflammatory drugs (NSAIDs) unless contraindicated and taking hourly observations for 12 hours following intrathecal diamorphine. Method: This audit assessed the provision of post-CS analgesia in 29 women over a two-week period. Indicators used were the use of intrathecal/epidural opioids, use of post-operative opioids and NSAIDs, frequency of observations and patient satisfaction with pain management on post-operative days 1 and 2. Results: All women received intrathecal/epidural diamorphine, 97% were prescribed post-operative opioids and all were prescribed NSAIDs unless contraindicated. Hourly observations were not maintained for 12 hours following intrathecal diamorphine. 97% of women were satisfied with their pain management on post-operative day 1 whereas only 75% were satisfied on day 2. Discussion: This service meets the proposed standards for the provision of post-operative analgesia, achieving high levels of patient satisfaction 1 day after CS. However, patient satisfaction levels are significantly lower on post-operative day 2, which may be due to reduced frequency of observations. The lack of an official audit standard for patient satisfaction on postoperative day 2 may result in reduced incentive to prioritise pain management at this stage.

Keywords: Caesarean section, analgesia, postoperative care, patient satisfaction

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9510 Effect of Infill’s in Influencing the Dynamic Responses of Multistoried Structures

Authors: Rahmathulla Noufal E.

Abstract:

Investigating the dynamic responses of high rise structures under the effect of siesmic ground motion is extremely important for the proper analysis and design of multitoried structures. Since the presence of infilled walls strongly influences the behaviour of frame systems in multistoried buildings, there is an increased need for developing guidelines for the analysis and design of infilled frames under the effect of dynamic loads for safe and proper design of buildings. In this manuscript, we evaluate the natural frequencies and natural periods of single bay single storey frames considering the effect of infill walls by using the Eigen value analysis and validating with SAP 2000 (free vibration analysis). Various parameters obtained from the diagonal strut model followed for the free vibration analysis is then compared with the Finite Element model, where infill is modeled as shell elements (four noded). We also evaluated the effect of various parameters on the natural periods of vibration obtained by free vibration analysis in SAP 2000 comparing them with those obtained by the empirical expressions presented in I.S. 1893(Part I)-2002.

Keywords: infilled frame, eigen value analysis, free vibration analysis, diagonal strut model, finite element model, SAP 2000, natural period

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9509 A Comparative Study of the Effectiveness of Narrative Therapy in Individual and Group Counseling on Promoting Hope in With Breast Cancer’s Women

Authors: Sajadian Akram, Tavasoli F.

Abstract:

Breast cancer is the second most common cancer in the world and certainly the most frequent cancer mostly among women. This study was aimed to compare the effectiveness of individual counseling and group narrative therapy on female patients' life expectancy afflicted by breast cancer. The present study is a pre-test-post-test clinical trial. Fifty-five patients with breast cancer were randomly selected in the follow-up period and after their active medical treatment completion. Then, they were randomly divided into two groups: individual counseling and group counseling. Herth hope index (HHI) was used to measure the patients' hope level. Data were analyzed using t-test and SPSS software. hope rate was statistically significant in both groups receiving individual and group narrative therapy in the post-test compared to the pre-test (P <00000). Moreover, the comparative evaluation of hope in both groups (individual & group counseling) in the post-test showed that group narrative counseling is more effective than individual narrative counseling (P <00000). Conclusion: Narrative therapy promotes hope in breast cancer patients effectively. Due to the nature of breast cancer and its psychological effects in the post-treatment period, providing narrative group therapy can improve life quality. Patients' life quality changes in tandem with changes in hope.

Keywords: hope, narrative therapy, counseling, breast cancer

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9508 Study on the Effect of Pre-Operative Patient Education on Post-Operative Outcomes

Authors: Chaudhary Itisha, Shankar Manu

Abstract:

Patient satisfaction represents a crucial aspect in the evaluation of health care services. Preoperative teaching provides the patient with pertinent information concerning the surgical process and the intended surgical procedure as well as anticipated patient behavior (anxiety, fear), expected sensation, and the probable outcomes. Although patient education is part of Accreditation protocols, it is not uniform at most places. The aim of this study was to try to assess the benefit of preoperative patient education on selected post-operative outcome parameters; mainly, post-operative pain scores, requirement of additional analgesia, return to activity of daily living and overall patient satisfaction, and try to standardize few education protocols. Dependent variables were measured before and after the treatment on a study population of 302 volunteers. Educational intervention was provided by the Investigator in the preoperative period to the study group through personal counseling. An information booklet contained detailed information was also provided. Statistical Analysis was done using Chi square test, Mann Whitney u test and Fischer Exact Test on a total of 302 subjects. P value <0.05 was considered as level of statistical significance and p<0.01 was considered as highly significant. This study suggested that patients who are given a structured, individualized and elaborate preoperative education and counseling have a better ability to cope up with postoperative pain in the immediate post-operative period. However, there was not much difference when the patients have had almost complete recovery. There was no difference in the requirement of additional analgesia among the two groups. There is a positive effect of preoperative counseling on expected return to the activities of daily living and normal work schedule. However, no effect was observed on the activities in the immediate post-operative period. There is no difference in the overall satisfaction score among the two groups of patients. Thus this study concludes that there is a positive benefit as suggested by the results for pre-operative patient education. Although the difference in various parameters studied might not be significant over a long term basis, they definitely point towards the benefits of preoperative patient education. 

Keywords: patient education, post-operative pain, postoperative outcomes, patient satisfaction

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9507 US Foreign Aids and Its Institutional and Non-Institutional Impacts in the Middle East, Africa, Southeast Asia, and Latin America (2000 - 2020)

Authors: Mahdi Fakheri, Mohammad Mohsen Mahdizadeh Naeini

Abstract:

This paper addresses an understudied aspect of U.S. foreign aids between the years 2000 and 2020. Despite a growing body of literature on the impacts of U.S. aids, the question about how the United States uses its foreign aids to change developing countries has remained unanswered. As foreign aid is a tool of the United States' foreign policy, answering this very question can reveal the future that the U.S. prefers for developing countries and that secures its national interest. This paper will explore USAID's official dataset, which includes the data of foreign aids to the Middle East, Africa, Latin America, and Southeast Asia from 2000 to 2020. Through an empirical analysis, this paper argues that the focus of U.S. foreign aid is evenly divided between institutional and non-institutional (i.e., slight enhancement of status quo) changes. The former is induced by training and education, funding the initiatives and projects, making capacity and increasing the efficiency of human, operational, and management sectors, and enhancing the living condition of the people. Moreover, it will be demonstrated that the political, military, cultural, economic, and judicial are some of the institutions that the U.S. has planned to change in the aforementioned period and regions.

Keywords: USAID, foreign aid, development, developing countries, Middle East, Africa, Southeast Asia, Latin America

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9506 Spatio-Temporal Analysis of Land Use and Land Cover Change in the Cocoa Belt of Ondo State, southwestern Nigeria

Authors: Emmanuel Dada, Adebayo-Victoria Tobi Dada

Abstract:

The study evaluates land use and land cover changes in the cocoa belt of Ondo state to quantify its effect on the expanse of land occupied by cocoa plantation as the most suitable region for cocoa raisin in Nigeria. Time series of satellite imagery from Landsat-7 ETM+ and Landsat-8 TIRS covering years 2000 and 2015 respectively were used. The study area was classified into six land use themes of cocoa plantation, settlement, water body, light forest and grassland, forest, and bar surface and rock outcrop. The analyses revealed that out of total land area of 997714 hectares of land of the study area, cocoa plantation land use increased by 10.3% in 2015 from 312260.6 ha in 2000. Forest land use also increased by 6.3% in 2015 from 152144.1 ha in the year 2000, water body reduced from 2954.5 ha in the year 2000 by 0.1% in 2015, settlement land use increased by 3% in 2015 from 15194.6 ha in 2000, light forest and grassland area reduced by 10.4% between 2000 and 2015 and 9.1% reduction in bar surface and rock outcrop land use between the year 2000 and 2015 respectively. The reasons for different ranges in the changes observed in the land use and land cover in the study area could be due to increase in the incentive to cocoa farmers from both government and non-governmental organizations, developed new cocoa breed that thrive better in the light forest, rapid increased in the population of cocoa farmers’ settlements, and government promulgation of forest reserve law.

Keywords: satellite imagery, land use and land cover change, area of land

Procedia PDF Downloads 190