Search results for: private investor

Authors: Saleh Alzahrani, Halim Boussabaine

Abstract:

The Public Private Partnership (PPP) contracts are produced taking into account the reason that the configuration, development, operation, and financing of an open undertaking is to be recompensed to a private gathering inside a solitary contractual structure. PPP venture dangers are ordinarily connected with the improvement and development of another resource and in addition its operation for a considerable length of time. Without a doubt, the most genuine outcomes of dangers amid the development period are value and time overwhelms. These occasions are amongst the most extensively utilized situations as a part of worth for cash investigation dangers. The wellsprings of danger change over the life cycle of a PPP venture. In customary acquirement, the general population segment ordinarily needs to cover all value trouble from these dangers. At any rate there is bounty confirmation to recommend that cost pain is a standard in a percentage of the tasks that are conveyed under customary obtainment. This paper means to research the effect of endogenous dangers on expense overwhelm in KSA PPP ventures. The paper displays a brief writing survey on PPP danger evaluating systems, and after that presents an affiliation model between danger occasions and expense invade in KSA. The paper finishes up with considerations for future examination.

Keywords: PPP, risk pricing, impact of risk, Endogenous risks

Procedia PDF Downloads 428

Authors: Shirin Zubair

Abstract:

Keeping in view the segregation of space(s) experienced by young women and men at puberty in Pakistan and the socially constructed and performative aspect of gender identity by Western theorists of gender and self, this paper will explore Pakistani youth’s differential, gendered performances. Specifically focused on Pakistani youth’s perceptions and experiences of sexuality, extramarital and same-sex relationships in constructing and performing gendered identities as manifested through their talk, the research will also draw upon recent theories of space in cultural studies and postcolonial discourses. The data cited has been culled from two different studies conducted at universities in the city of Multan. Informal, unstructured group discussions of women and men aged between twenty and twenty nine years of age were recorded separately among groups of friends and cohorts studying at two different universities. The findings clearly show both young women and men doing the boundary work in identity construction in private and public spaces: talking of sexuality, sexual desire and sexual relationships, women tend to safely couch their articulations in euphemisms: distance themselves from the Western concepts of sexual liberation ; while young men’s exhibitionism in boasting of their sexual prowess and sexual encounters as well as the use of sexually explicit and tabooed words frequently in their intimate conversations shows a clear departure from and a contestation of the normative public discourses. Further the findings illustrate that young men conform to the patriarchal ideologies by constructing heterosexual identities whereas young women initiate discourse on same-sex relationships. The data also reveals that the private identities of these young Pakistanis are different from their public identities, as it is in their intimate conversations and private (or safe) spaces that they talk about their pre-marital sexual activities and love affairs. These intimate and safe spaces thus emerge as subversion and contestation of their public identity, as sex and sexuality are tabooed subjects in public discourses.

Keywords: sexuality, gender, identity, performance

Procedia PDF Downloads 310

Authors: Norm Josephy, Lucy Kimball, Victoria Steblovskaya

Abstract:

Hedging of a portfolio of European options under proportional transaction costs is considered. Our discrete time financial market model extends the binomial market model with transaction costs to the case where the underlying stock price ratios are distributed over a bounded interval rather than over a two-point set. An optimal hedging strategy is chosen from a set of admissible non-self-financing hedging strategies. Our approach to optimal hedging of a portfolio of options is based on theoretical foundation that includes determination of a no-arbitrage option price interval as well as on properties of the non-self-financing strategies and their residuals. A computational algorithm for optimizing an investor relevant criterion over the set of admissible non-self-financing hedging strategies is developed. Applicability of our approach is demonstrated using both simulated data and real market data.

Keywords: extended binomial model, non-self-financing hedging, optimization, proportional transaction costs

Procedia PDF Downloads 229

Authors: Denila Jinny Arulraj, Thillai Rajan Annamalai

Abstract:

This paper aims to study the relationship between funding sources and firm performance of Indian private limited SMEs using cross-sectional data obtained from a nation-wide census. A unique feature of the study is that it analyses firms that use only one form of external funding. Employing Propensity Score Matching, we find that obtaining any form of external finance has a negative influence on equivalents of profit margin and return on assets and a negative influence on asset turnover of small firms. But, the impact of institutional sources of funding on small enterprises is found to be lesser than that of non-institutional sources of funding. External/institutional sources of funding have a less negative impact on the profit margin for medium enterprises and have no significant influence on other measures of performance. The contribution of this research is the discovery of institutional sources wielding a lesser influence on performance measures considered. It is also found that institutional sources can benefit small enterprises more than medium enterprises.

Keywords: external finance, institutional finance, non-institutional finance, performance, India, SME

Procedia PDF Downloads 245

Authors: S. Jabeen

Abstract:

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

Keywords: cultural policy, festivals, human capabilities, Pakistan

Procedia PDF Downloads 111

Authors: Asmamaw Yigzaw Chirkos

Abstract:

Corruption increasingly has become one of the greatest challenges of the contemporary world. It undermines good government and rule of law and in turn leads to the misallocation of public resources, harms both the private and public sector and particularly hurts the poor. Corruption is found everywhere, but it is deep-rooted in the poor countries of Sub-Saharan Africa countries. Corruption in developing countries continues to be one of the greatest factors of poverty and underdevelopment. As it is the case in other developing countries, in Ethiopia, the culture of corruption has grown roots in the society at large and become endemic. Institutions, which were designed for the regulation of the relationships between citizens and the State, are being used instead for the personal enrichment of public officials and other corrupt private agents. This paper, therefore, assesses the major factors affecting Corruption in Ethiopia from higher education instructors’ Perceptions with special reference to Business and Economics College of Bahir Dar University. The findings of the study support several previously conducted studies in that each factor examined had a moderate to high positive correlation with corruption, where r ranged between .35 and .54. In addition, the 13 variables together explain about 37 percent change in perceived corruption in Ethiopia (R²= .37).

Keywords: Bahir Dar university, corruption, Ethiopia, factors, instructors perceptions

Procedia PDF Downloads 209

Authors: Shekar Babu, Amalendu Jyothishi

Abstract:

The New Companies Bill-2013 in India has mandated all the companies with a certain profit to spend on Corporate Social Responsibility (CSR). Despite the Corporate Governance (CG) compliances at the strategic level the firms have to engage in social good. For both the Central Public Sector Enterprises (CPSE) and the private companies in India the need for strategic CSR focus through operational efficiency measures are mandated. In this paper the focus is to find out if the Indian companies understand their responsibility towards the society despite government making CSR mandatory. Analyzing both the CPSEs and Private companies the researchers find out which set of companies behave responsibly towards the society. Does any particular industry group(s) impact the society by disclosing their CSR spending activities. The key financial and non-financial parameters that influence CSR spending were identified and through econometric analysis methodologies (logistic regression and OLS models) the results were analyzed. The innovative methods were developed to identify if the firms operate efficiently and at the same time complying with the new CSR laws. An innovative matrix was developed to explain how companies could operate efficiently and be compliant in parallel how some of the companies can strategically realign their spending by operating efficiently.

Keywords: corporate social responsibility(CSR), corporate governance(CG), India, logit function, ordinary least squares (OLS)

Procedia PDF Downloads 330

Authors: Roya Morad, W. Eirik Heintz

Abstract:

The identity of a neighborhood is inevitably shaped by the architecture and the people of that place. Conventionally the streets within each neighborhood served as a semi-public-private extension of the private living spaces. The street as a design element formed a hybrid condition that was neither totally public nor private, and it encouraged social interactions. Thus through creating a sense of community, one of the most basic human needs of belonging was achieved. Similar to major global cities, Tehran has undergone serious urbanization. Developing into a capital city of high rises has resulted in an increase in urban density. Although allocating more residential units in each neighborhood was a critical response to the population boom and the limited land area of the city, it also created a crisis in terms of social communication and place attachment. District 10 in Tehran is a neighborhood that has undergone the most urban transformation among the other 22 districts in the capital and currently has the highest population density. This paper will explore how the active streets in district 10 have changed into their current condition of high rises with a lack of meaningful social interactions amongst its inhabitants. A residential building can be thought of as a large group of people. One would think that as the number of people increases, the opportunities for social communications would increase as well. However, according to the survey, there is an indirect relationship between the two. As the number of people of a residential building increases, the quality of each acquaintance reduces, and the depth of relationships between people tends to decrease. This comes from the anonymity of being part of a crowd and the lack of social spaces characterized by most high-rise apartment buildings. Without a sense of community, the attachment to a neighborhood is decreased. This paper further explores how the neighborhood participates to fulfill ones need for social interaction and focuses on the qualitative aspects of alternative spaces that can redevelop the sense of place attachment within the community.

Keywords: high density, place attachment, social communication, street life, urban transformation

Procedia PDF Downloads 97

Authors: Ayeni Margaret Foluso, K. A. Omotayo

Abstract:

This study investigated the impact of selected environmental variables as determinants of students’ achievements in biology in secondary schools. The selected environmental variables are class size and laboratory adequacy. The purpose was to find out whether these environmental variables can bring about improvement in the learning of biology by Senior Secondary School Students. The study design used was descriptive research of the survey type. Two instruments were used that is, Biology Achievement Test and School Environment Questionnaire .The population of the study consisted of all Biology students in both public and private Senior Secondary Schools class III (SSIII) in all the three selected states in South West Nigeria. A sample of 900 Biology students and 45 Biology Teachers from both public and private Senior Secondary Schools Class III were used. Two research hypotheses were generated for the study. The data collected were subjected to both descriptive statistics of mean and standard deviation; and the inferential statistics of regression Analyses was employed to test the hypotheses formulated. From the results, it was revealed that the selected environmental variables had influence on the students’ achievement in biology.

Keywords: environmental variables, determinants, students’ achievement, school science

Procedia PDF Downloads 451

Authors: Xuan Li

Abstract:

The English language occupies a crucial position in the Chinese educational system and is officially introduced in the school curriculum from the third year of primary school onward. However, it is worth noting that along with the movement to remove primary-oriented education from preschools, the teaching of English is banned in preschools. Considering the worldwide trend of learning English at a young age, whether this ban can be implemented successfully is doubtful. With an initial focus on the interaction of language-in-education planning and policy (LEPP) at the macro level and actual practice at the micro level, this research selected three private preschools and two public preschools to explore what is taking place in terms of English education. All data collected is qualitative and is gained from documentary analysis, school observation, interviews, and focus groups. The findings show that: (1) although the English ban in preschool education aims to regulate all types of preschools and all adult Chinese participants are aware of this ban, there are very different scenarios according to type of preschool, such that no English classes are found in public schools while private preschools commonly provide some kind of English education; (2) even public schools do not have an English-free environment and parents’ demand for English education is high; (3) there is an obvious top-down hierarchy in both public and private schools, in which administrators make the decisions while others have little power to influence the school curriculum; (4) there is a clear gap in the perception of English teaching between children and adults, in which adults prefer foreign English teachers and think English teaching is just playing, while children do not have a clear preference regarding teachers and do not think English class is just for fun; (5) without macro support, there are many challenges involved in preschool English education, including the shortage of qualified teachers and teaching resources, ineffective personnel management and few opportunities for speaking English in daily life. Hopefully, this research will not only highlight the interaction of LEPP at different levels and the importance of individual agency but also raise the awareness of how to provide qualified and equal education for all children.

Keywords: individual agency, language-in-education planning and policy, micro context, preschool English education

Procedia PDF Downloads 122

Authors: Wang Liguang, Zhang Xueqing

Abstract:

The build-operate-transfer (BOT) project delivery system has provided effective routes to mobilize private sector funds, innovative technologies, management skills and operational efficiencies for public infrastructure development and have been widely used in China during the last 20 years. Many BOT projects in China will be smoothly transferred to the government soon and the transfer stage, which is considered as the last stage, must be studied carefully and handled well to achieve the overall success of BOT projects. There will be many issues faced by both the public sector and private sector in the transfer stage of BOT projects, including project post-assessment, technology and documents transfer, personal training and staff transition, etc. and sometimes additional legislation is needed for future operation and management of facilities. However, most previous studies focused on the bidding, financing, and building and operation stages instead of transfer stage. This research identifies nine key issues in the transfer stage of BOT projects through a comprehensive study on three cases in China, and the expert interview and expert discussion meetings are held to validate the key issues and give detail analysis. A proposed framework of transfer management is prepared based on the experiences derived and lessons drawn from the case studies and expert interview and discussions, which is expected to improve the transfer management of BOT projects in practice.

Keywords: BOT project, key issues, transfer management, transfer stage

Procedia PDF Downloads 221

Authors: Todor Nickolov Stoyanov

Abstract:

These factors appear as a reason for difficulties in financing from programs for rural development of the European Union. Credit conditions for commercial banks are difficult to implement, and its interest rate is too high. One of the possibilities for short-term loans at preferential conditions for the small and medium-sized agricultural and forest owners is credit cooperative. After the changes, occurred in the country after 1990, the need to restore credit cooperatives raised. The purpose for the creation of credit cooperatives is to assist private agricultural and forest owners to take care for them, to assist in the expansion and strengthening of their farms, to increase the quality of life and to improve the local economy. It was found that: in Bulgaria there is a legal obstacle for credit cooperatives to expand their business in the deposit and lending sphere; private forest and agricultural owners need small loans to solve a small problem for a certain season; providing such loans is not attractive for banks, but it is extremely necessary for owners of small forests and lands; if a special law on credit cooperatives is adopted, as required by the Cooperatives Act, it will allow more local people to be members of such credit structures and receive the necessary loans. In conclusion, proposals to create conditions for the development of credit cooperatives in the country are made and positive results expected from the creation of credit cooperatives, are summarized.

Keywords: cooperatives, credit cooperatives, forestry, forest owners

Procedia PDF Downloads 195

Authors: Hafiz Sajjad Hussain, Asad Razzaq

Abstract:

The study aims to explore the relationship between application of speech and discourse used by the political workers and their leaders for maintaining authoritative approach and dialog power. The representation of these relationships between ideology and language in the analysis of discourse and spoken text following Van Dijk Socio-Cognitive model. Media and political leaders are two pillars of a state and their role is so important for development and effects on the society. Media has become an industry in the recent years in the globe, and especially, the private sector developed a lot in the last decade in Pakistan. Media is the easiest way of communication with the large community in a short time and used discourse independently. The prime time of the news channels in Pakistan presents the political programs on most favorite story or incident of the day. The current program broadcasted by a private channel ARY News July 6, 2014 covered the most top story of the day. The son of Ex. CJ Arslan Iftikhar moves an application to Election Commission of Pakistan about the daughter of the most popular political leader and chairman PTI Imran Khan. This movement turns the whole scenario of the political parties and media got a hot issue form discussion. This study also shows that the ideology and meanings which are presented by the TV channels not always obvious for readers.

Keywords: electronic media, political discourse, ideology of media, power, authoritative approach

Procedia PDF Downloads 495

Authors: Ngozi N. Sydney-Agbor, Chioma N. Ihegboro

Abstract:

Stress and personality as factors influencing nurses’ aggressive behaviour were investigated. The participants comprised of one hundred and fifty nurses selected through convenience sampling technique from four (4) private hospitals in Imo State, Nigeria; namely: Eastern Summit Specialist Clinics and Maternity, St. David Hospital, New Cross Hospital, and Christian Teaching Hospital. The nurses were all females with ages between 20–35 and a mean age of 25.10 years and a standard deviation of 4.15. The participants were administered with Job Related Tension Scale, Type A Behaviour Scale and Buss- Perry Aggressive Behaviour Scale. Two hypotheses were postulated and tested. Cross- sectional survey and Regression Analysis were adopted as design and statistics respectively. Results showed that as stress increased, nurses aggression also increased. Personality also predicted nurses aggressive behaviour with Type As’ exhibiting higher aggression than Type Bs’.The study recommended that hospital management board should improve the welfare of the nurses and their morale should be boosted by involving them in policy-making concerning their welfare and care of their patients, this will help minimise situations capable of increasing aggressive behaviour. There should also be sensitization on the negative impact of aggressive behaviour to patients especially amongst the personality Type A’s who are more susceptible to aggression.

Keywords: aggressive behaviour, nurses, personality, stress

Procedia PDF Downloads 314

Authors: Aungkana Kmonpetch

Abstract:

Protection of trafficked victims and partnership among stakeholders are established as core principles in 5P’ strategies in international and national anti-human trafficking policies. In this article, it is of interest to discuss how the role of public-private partnerships in promoting the occupation development for employment in wage will enhance the better protection for victims of trafficking who affirmatively decide they want a criminal justice intervention, using Thailand as a case. Most of the victims who have accepted to be witness in the criminal justice system have lost income during their absence from work. The analysis of Thailand case is based on two methodological approaches: 1) interview with victims of trafficking, protection authorities, service providers, trainers and teachers, social workers, NGOs, police, prosecutors, business owners and enterprises, ILO, UNDP etc.; 2) create collaborative effort through workshops/consultation meetings in participation of all stakeholders – governmental agencies, private organizations, UN and international agencies. The linking of protection and partnership is anchored in international conventions and human trafficking directives. While this is actually framed as a responsive advantage for 5P strategies of anti-human trafficking – prevention, protection, persecution, punishment, and partnership, in reality, there might have more practical requirements of care and support. The article addresses how the partnership between governmental agencies and private organizations provide opportunities for trafficked victims to engage in high-skilled occupational development such as Silk-Sewing and Tailoring. The discussion is also focused how this approach of capacity building of the trainer for trainee, be enable the trafficked victims to cultivate the practices of high-skilled training to engage them into the business of social enterprise with employment in wage. The partnership coordination draws specifically to two aspects: firstly, to formulate appropriate assistance for promotion and protection of human rights of the trafficked victims in response to the 5P’ strategies of anti-human trafficking policy; secondly, to empower them to settle some economic stability for livelihood opportunity in the country of origin on their return and reintegration. Therefore, they can define how they want to move forward to prevent them at risk of vulnerable situations where they might being trafficked again or going on to work in exploitative conditions. It strengthens proper access to protection and assistance, depending on how the incentive of protection for cooperation is perceived to be and how useful the capacity building in occupation development for employment in wage will be implemented practically both in the host country and in the country of origin. This also brings into question how the victim of trafficking are able to access to the trade of market and are supported the employment opportunity according to the concept of decent work as they are constituted as witnesses. We discuss these issues in the area of a broader literature on social protection, economic security, gender, law, and victimhood.

Keywords: employment opportunity, occupation development, protection for victim of trafficking, public-private partnership

Procedia PDF Downloads 201

Authors: Mohammad Amjad, Muhammad Iqbal Zafar, Ashfaq Ahmed Maan, Muhammad Tayyab Kashif

Abstract:

Obesity is an abnormal physical condition where an increased and undesirable fat accumulates in the human body. Obesity is an international phenomenon. In the present study, 12 schools were randomly selected from each district considering the areas i.e. Elite Private Schools in the private sector, Government schools in urban areas and Government schools in rural areas. Interviews were conducted with male students studying in grade 5 to grade 9 in each school. The sample size was 600 students; 300 from Faisalabad district and 300 from Rawalpindi district in Pakistan. A well-structured and pre-tested questionnaire was used for data collection. The calibrated scales were used to attain the heights and weights of the respondents. Obesity of school-going children depends on family types, family size, family history, junk food consumption, mother’s education, weekly time spent in walking, and sports facility at school levels. Academic performance, physical health and psychological health of school going children are affected with obesity. Concrete steps and policies could minimize the incidence of obesity in children in Pakistan.

Keywords: body mass index, cardiovascular disease, fast food, morbidity, overweight

Procedia PDF Downloads 158

Authors: Huang Dennis, Aurelio Aziel, Burra Venkata Durga Kumar

Abstract:

Nowadays, smartphones and mobile operating systems have been popularly widespread in our daily lives. As people use smartphones, they tend to store more private and essential data on their devices, because of this it is very important to develop more secure mobile operating systems and cloud storage to secure the data. However, several factors can cause security risks in mobile operating systems such as malware, malicious app, phishing attacks, ransomware, and more, all of which can cause a big problem for users as they can access the user's private data. Those problems can cause data loss, financial loss, identity theft, and other serious consequences. Other than that, during the pandemic, people will use their mobile devices more and do all sorts of transactions online, which may lead to more victims of online scams and inexperienced users being the target. With the increase in attacks, researchers have been actively working to develop several countermeasures to enhance the security of operating systems. This study aims to provide an overview of the security and privacy issues in mobile operating systems, identifying the potential risk of operating systems, and the possible solutions. By examining these issues, we want to provide an easy understanding to users and researchers to improve knowledge and develop more secure mobile operating systems.

Keywords: mobile operating system, security, privacy, Malware

Procedia PDF Downloads 53

Authors: Neil Fourati

Abstract:

Collaboration between public and private stakeholders for agricultural development are today lacking in Tunisia. The last dictatorship witnessed by the country has deteriorated the necessary trust between the state and small farmers for the realization of development projects, in particular in the interior, disadvantaged regions of the country. These regions, where the youth unemployment rate is above 30%, have been the heart of the uprising that preceded the revolution. The transitional period that the country is going through since 2011 is an opportunity for the emergence of new governance systems in the context of the decentralization. The latter is recognized in the 2nd Tunisian Republic constitution as the basis of regional management. Civil society participation to the decision-making process is considered as a mean to identify measures that are more coherent with local populations’ needs. The development of agriculture and food value chains in rural areas is relevant within the framework of the implementation of new decisions systems that require public-private collaborations. These new systems can lead to actions in favor of improving living conditions of rural populations. The diverisification of activities around agriculture can be a solution for job creation and local value creation. The project for the promotion of sustainable agriculture and rural development in Tunisia has designed and implemented a multi-stakeholder dialogue process for the development of local value chains platforms in disadvantaged areas of the country. The platforms gather public and private organizations ; as well civil society organizations ; that intervene in a locality in relation to the production transformation or product’s commercialization. The role of these platforms is to formulate realize and evaluate collaborative actions or projects for the promotion of the concerned product and territory. The dialogue process steps allow to create the necessary collaboration conditions in order to promote viable collectivities, dynamic economies and healthy environments. Effectively, the dialogue process steps allow to identify the local leaders. These leaders recognize the development constraints and opportunities. They deal with key and gathering subjects around the collaborative projects or actions. They take common decisions in order to create effective coalitions for the implementation of common actions. The plateforms realize quick success so as to build trust. The project has supported the formulation of 22 collaborative projects. Seven priority collaborative projects have been realized. Each collaborative project includes 3 parts : the signature of the collaboration conventions between public and private organizations, investment in the relevant material in order to increase productivity and the quality of local and products and finally management and technical training in favour of producers’ organizations for the promotion of local products. The implementation of this process has enabled to enhance the capacities of collaboration between local actors : producers, traders, processors and support structures from public sector and civil society. It also allowed to improve the efficiency and relevance of actions and measures for agriculture and rural development programs. Thus, the process for the development of local value chain platform is a basis for sustainable development of agriculture.

Keywords: governance, public private collaboration, rural development, value chains

Procedia PDF Downloads 250

Authors: Sayed Kifayat Shah, Tang Zhongjun, Arfa Tanveer

Abstract:

This study explores the significant heatwave effect on stock return and volatility. Using an ARCH/GARCH approach, it examines the relationship between the heatwave of Karachi, Islamabad, and Lahore on the KSE-100 index. It also explores the impact of heatwave on returns of the pharmaceutical and electronics industries. The empirical results confirm that that stock return is positively related to the heat waves of Karachi, negatively related to that of Islamabad, and is not affected by the heatwave of Lahore. Similarly, pharmaceutical and electronics indices are also positively related to heatwaves. These differences in results can be ascribed to the change in the behavior of the residents of that city. The outcomes are useful for understanding an investor's behavior reacting to weather and fluxes in stock price related to heatwave severity levels. The results can support investors in fixing biases in behavior.

Keywords: ARCH/GARCH model, heat wave, KSE-100 index, stock market return

Procedia PDF Downloads 135

Authors: Arosha Rashmi De Silva, Ananda Chandrasekara

Abstract:

This study seeks to comprehensively examine the influence of fast-food consumption and physical activity levels on the body weight of young employees within the private sector of Sri Lanka. The escalating popularity of fast food has raised concerns about its nutritional content and associated health ramifications. To investigate this phenomenon, a cohort of 100 individuals aged between 25 and 45, employed in Sri Lanka's private sector, participated in this research. These participants provided socio-demographic data through a standardized questionnaire, enabling the characterization of their backgrounds. Additionally, participants disclosed their frequency of fast-food consumption and engagement in physical activities, utilizing validated assessment tools. The collected data was meticulously compiled into an Excel spreadsheet and subjected to rigorous statistical analysis. Descriptive statistics, such as percentages and proportions, were employed to delineate the body weight status of the participants. Employing chi-square tests, our study identified significant associations between fast-food consumption, levels of physical activity, and body weight categories. Furthermore, through binary logistic regression analysis, potential risk factors contributing to overweight and obesity within the young employee cohort were elucidated. Our findings revealed a disconcerting trend, with 6% of participants classified as underweight, 32% within the normal weight range, and a substantial 62% categorized as overweight or obese. These outcomes underscore the alarming prevalence of overweight and obesity among young private-sector employees, particularly within the bustling urban landscape of Colombo, Sri Lanka. The data strongly imply a robust correlation between fast-food consumption, sedentary behaviors, and higher body weight categories, reflective of the evolving lifestyle patterns associated with the nation's economic growth. This study emphasizes the urgent need for effective interventions to counter the detrimental effects of fast-food consumption. The implementation of awareness campaigns elucidating the adverse health consequences of fast food, coupled with comprehensive nutritional education, can empower individuals to make informed dietary choices. Workplace interventions, including the provision of healthier meal alternatives and the facilitation of physical activity opportunities, are essential in fostering a healthier workforce and mitigating the escalating burden of overweight and obesity in Sri Lanka

Keywords: fast food consumption, obese, overweight, physical activity level

Procedia PDF Downloads 12

Authors: Rodrigo Zepeda

Abstract:

Transaction cost analysis (TCA) is a way of analyzing the relative performance of different intermediaries and different trading strategies for trades undertaken in financial instruments. It is a way for an investor to determine the overall quality of execution of a particular trade, and there are many different approaches to undertaking TCA. Under the updated Markets in Financial Instruments Directive (2014/65/EU) (MiFID II), investment firms are required when executing orders, to take all sufficient steps to obtain the best possible result for their clients. This requirement for 'Best Execution' must take into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The new regulatory compliance framework under MiFID II will now also apply across a very broad range of financial instruments. This article will provide a comprehensive technical analysis of how TCA and Best Execution will significantly change under MiFID II. It will also explain why harmonization of post-trade reporting requirements under MiFID II could potentially support the development of peer group analysis, which in turn could provide a new and highly advanced framework for TCA that could more effectively support Best Execution requirements under MiFID II. The study is significant because there are no studies that have dealt with TCA and Best Execution under MiFID II in the literature.

Keywords: transaction cost analysis, execution quality, best execution, MiFID II, financial instruments

Procedia PDF Downloads 267

Authors: Adam Reilly

Abstract:

The major claim of this paper is that both the English and Canadian branches of the common law have been ill-served by the 'institutional'/'remedial' taxonomy of constructive trusts; what shall be termed the 'orthodox taxonomy'.  The orthodox taxonomy is found both within the case law and the attendant academic commentary.  In truth, the orthodox taxonomy is especially dangerous because it contains a kernel of truth together with a misconception; the interplay of both has caused more harm than the misconception alone would have managed.  The kernel of truth is that some trusts arise automatically when the necessary facts occur ('institutional') and other trusts arise only by way of court order ('remedial').  The misconception is that these two labels represent an exhaustive nomenclature of two distinct 'kinds' of constructive trust such that any particular constructive trust must necessarily be 'institutional' if it is not 'remedial' and vice versa.  The central difficulty is that our understanding of 'remedial' trusts is relatively poor, with the result that anyone using the orthodox taxonomy shall be led astray in one of three ways: (i) by rejecting it wholesale; (ii) by adopting one ‘type’ of trust to the exclusion of the other (as in English law); or (iii) by applying it as an analytical device with sub-optimal results which are difficult to defend.  This paper shall seek to resolve these difficulties by clarifying the criteria for identifying and distinguishing true 'remedial' constructive trusts.  It shall then provide some working examples of how English and Canadian private law at present misunderstand constructive trusts and how that misunderstanding might be resolved once we distinguish the orthodox taxonomy's kernel of truth from the misconception outlined above.

Keywords: comparative law, constructive trusts, equitable remedies, remedial constructive trusts

Procedia PDF Downloads 117

Authors: Asif Khaliq, Sayeeda A. Sayed

Abstract:

The drug information centers provide drug related information to the requesters that include physicians, pharmacist, nurses and other allied health care professionals. The International Pharmacist Federation (FIP) describes basic functions of a drug and poison information centers as drug evaluation, therapeutic counseling, pharmaceutical advice, research, pharmaco-vigilence and toxicology. Continuous advancement in the field of medicine has expanded the medical literature, which has increased demand of a drug and poison information center for the guidance, support and facilitation of physicians. The objective of the study is to determine the need of drug and poison information centers in public and private hospitals of Karachi, Pakistan. A cross sectional study was conducted during July 2013 to April 2014 using a self-administered, multi-itemed questionnaire. Non Probability Convenient sampling was used to select the study participants. A total of 307 physicians from public and private hospitals of Karachi participated in the study. The need for 24/7 Drug and poison information center was highlighted by 92 % of physicians and 67% physicians suggested opening a drug information center at the hospital. It was reported that 70% physicians take at least 15 minutes for searching the information about the drug while managing a case. Regarding the poisoning case management, 52% physicians complaint about the unavailability of medicines in hospitals; and mentioned the importance of medicines for safe and timely management of patients. Although 73% physicians attended continued medical education (CME) sessions, 92 % physicians insisted on the need of 24/7 Drug and poison information center. The scarcity of organized channel for obtaining the information about drug and poisons is one of the most crucial problems for healthcare workers in Pakistan. The drug and poison information center is an advisory body that assists health care professional and patients in provision of appropriate drug and hazardous substance information. Drug and poison information center is one of the integral needs for running an effective health care system. Provision of a 24 /7 drug information centers with specialized staff offer multiple benefits to the hospitals while reducing treatment delays, addressing awareness gaps of all stakeholders and ensuring provision of quality health care.

Keywords: drug and poison information centers, Pakistan, physicians, public and private hospitals

Procedia PDF Downloads 304

Authors: Eisa A. Alsafran, Francis T. Edum-Fotwe, Wayne E. Lord

Abstract:

The degree to which a public client actively participates in Public Private Partnership (PPP) schemes, is seen as a determinant of the success of the arrangement, and in particular, efficiency in the delivery of the assets of any infrastructure development. The asset delivery is often an early barometer for judging the overall performance of the PPP. Currently, there are no defined descriptors for the degree of such participation. The lack of defined descriptors makes the association between the degree of participation and efficiency of asset delivery, difficult to establish. This is particularly so if an optimum effect is desired. In addition, such an association is important for the strategic decision to embark on any PPP initiative. This paper presents a conceptual model of different levels of participation that characterise PPP schemes. The modelling was achieved by a systematic review of reported sources that address essential aspects and structures of PPP schemes, published from 2001 to 2015. As a precursor to the modelling, the common areas of Public Client Participation (PCP) were investigated. Equity and risk emerged as two dominant factors in the common areas of PCP, and were therefore adopted to form the foundation of the modelling. The resultant conceptual model defines the different states of combined PCP. The defined states provide a more rational basis for establishing how the degree of PCP affects the efficiency of asset delivery in PPP schemes.

Keywords: asset delivery, infrastructure development, public private partnership, public client participation

Procedia PDF Downloads 244

Authors: Yasir Ramadhan

Abstract:

This study aims to investigate tax avoidance practices when a financial crisis occurs due to the effects of the COVID-19 pandemic. This study also finds out how the influence of independent commissioners and external auditors on tax avoidance practices during the COVID-19 pandemic. Tax avoidance practices are measured by the current ETR. The role of the independent board of commissioners is measured by the proportion of independent commissioners in the composition of the board of commissioners, while the external auditor is measured by audit quality. In this study, there were 342 observations of companies listed on the Indonesia Stock Exchange from 2019 to 2020. This study used the difference-in-differences (DiD) method in data analysis. The results of this study indicate that companies do tax avoidance during the COVID-19 pandemic. Meanwhile, independent commissioners and qualified audits are not proven to be able to negate tax avoidance practices during the COVID-19 Pandemic. These results also show that a higher proportion of independent commissioners and audit quality are not sufficient for countries with low levels of auditor litigation and investor protection and weak regulatory frameworks.

Keywords: audit, commissioner, tax avoidance, COVID-19 pandemic

Procedia PDF Downloads 119

Authors: Salwana Hassan, Rashidah Abdul Rahman

Abstract:

Poverty in rural Malaysia remains unresolved and contribute 7.8% to the whole poverty figure in Malaysia. Among the rural folks, 50% is women. Thus, women, as the significant human capital to fight the long lost battle of poverty , is indispensable. This will also serve as an equal opportunity for women to play active and positive roles to develop the society that has been the tasks for men all this while. More importantly rural women folks have the potential to offer better quality of life for their family by providing extra income and monetary support whenever their husbands are not able to work. The reality in this, however, cannot be solved easily as there are many factors that stand in the way and prevent the resolutions to be observed.In this regard, this paper describes a model that has been used to resolve such issues in rural Malaysia. The model utilizes a synergetic effort between an academic institution, an NGO that govern the rural women folks and a private trading company that sell the finished product. The project was conducted in rural area of Selangor and has been in operations since the end of 2013. It shows positive outcome and could be used in other rural areas of Malaysia. The project captures the influence of the NGO programs upon rural women entrepreneurship and how a private trading company can facilitate to help develop a community. As a result the project reveals that self-income generating activities by entrepreneurship are the important contributing factor to empowering rural women folks in Malaysia.

Keywords: poverty, empowerment, rural, entrepreneurship, community

Procedia PDF Downloads 362

Authors: Ahsan Ahmed, Ming Lu, Syed Zaidi, Farhan Khan

Abstract:

The Integrated Project Delivery (IPD) method has been proposed as the solution to tackle complexity and fragmentation in the real world while addressing the construction industry’s growing needs for productivity and sustainability. Although the private sector has taken the initiative in implementing IPD and taken advantage of new technology such as building information modeling (BIM) in delivering projects, IPD remains less known and rarely used in public sector construction. The focus of this paper is set on the use of IPD in projects in public sector, which is potentially complemented by the use of analytical functionalities for workface planning and construction oriented design enabled by recent research advances in BIM. Experiences and lessons learned from implementing IPD in the private sector and in BIM-based construction automation research would play a vital role in reducing barriers and eliminating issues in connection with project delivery in the public sector. The paper elaborates issues challenges, contractual relationships and the interactions throughout the planning, design and construction phases in the context of implementing IPD on construction projects in the public sector. A slab construction case is used as a ‘sandbox’ model to elaborate (1) the ideal way of communication, integration, and collaboration among all the parties involved in project delivery in planning and (2) the execution of projects by using IDP principles and optimization, simulation analyses.

Keywords: integrated project delivery, IPD, building information modeling, BIM

Procedia PDF Downloads 160

Authors: Constant Akama, Frank Kulor, Frederick Agyemang

Abstract:

All over the world, due to increasing population, electric power distribution companies are looking for more efficient ways of reading electricity meters. In Ghana, the prepaid metering system was introduced in 2007 to replace the manual system of reading which was fraught with inefficiencies. However, the prepaid system in Ghana is not capable of integration with online systems such as e-commerce platforms and remote monitoring systems. In this paper, we present a design framework for an automatic metering system that can be integrated with e-commerce platforms and remote monitoring systems. The meter was designed using ADE 7755 which reads the energy consumption and the reading is processed by a microcontroller connected to Sim900 General Packet Radio Service module containing a GSM chip provisioned with an Access Point Name. The system also has a billing server and a management server located at the premises of the utility company which communicate with the meter over a Virtual Private Network and GPRS. With this system, customers can buy credit online and the credit will be transferred securely to the meter. Also, when a fault is reported, the utility company can log into the meter remotely through the management server to troubleshoot the problem.

Keywords: access point name, general packet radio service, GSM, virtual private network

Procedia PDF Downloads 270

Authors: Michelo Obrey

Abstract:

Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

Procedia PDF Downloads 157

Authors: Sobhy Fathy A. Hashesh

Abstract:

The study was carried out in the Elementary Classes of Andalus Private Schools, girls section using control and experimental groups formed by Random Assignment Strategy. The study aimed at investigating the effect of Al-Andalus Fused Curriculum (AFC) model of learning and the effect of separate subjects’ approach on the development of students’ conceptual learning and skills acquiring. The society of the study composed of Al-Andalus Private Schools, elementary school students, Girls Section (N=240), while the sample of the study composed of two randomly assigned groups (N=28) with one experimental group and one control group. The study followed the quantitative and qualitative approaches in collecting and analyzing data to investigate the study hypotheses. Results of the study revealed that there were significant statistical differences between students’ conceptual learning and skills acquiring for the favor of the experimental group. The study recommended applying this model on different educational variables and on other age groups to generate more data leading to more educational results for the favor of students’ learning outcomes.

Keywords: AFC, STEAM, lego education, Al-Andalus fused curriculum, mechatronics

Procedia PDF Downloads 186