Search results for: profit before tax

Authors: Ikpechukwu Njoku

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The study examined appraisal of shipping trade influence on the economic growth in Nigeria from 1981-2016 by the use of secondary data collected from the Central Bank of Nigeria. The main objectives are to examine the trend of shipping trade in Nigeria as well as determine the influence of economic growth on gross domestic product (GDP). The study employed both descriptive and influential tools. The study adopted cointegration regression method for the analysis of each of the variables (shipping trade, external reserves and external debts). The results show that there is a statistically significant relationship between GDP and external reserves with p-value 0.0190. Also the result revealed that there is a statistically significant relationship between GDP and shipping trade with p-value 0.000. However, shipping trade and external reserves contributed positively at 1% and 5% level of significance respectively while external debts impacted negatively to GDP at 5% level of significance with a long run variance of cointegration regression. Therefore, the study suggests that government should do all it can to curtail foreign dominance and repatriation of profit for a more sustainable economy as well as upgrade port facilities, prevent unnecessary delays and encourage exportable goods for maximum deployment of ships.

Keywords: external debts, external reserve, GDP, shipping trade

Procedia PDF Downloads 121

Authors: S. Fazi, B. Behdani

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The inland transportation of maritime containers entails the use of different modalities whose capacity is typically booked in advance. Containers may miss their scheduled departure time at a terminal for several reasons, such as delays, change of transport modes, multiple bookings pending. In those cases, it may be difficult for transport service providers to find last minute containers to fill the vacant capacity. Similarly to other industries, overbooking could potentially limit these drawbacks at the cost of a lower service level in case of actual excess of capacity in overbooked rides. However, the presence of multiple modalities may provide the required flexibility in rescheduling and limit the dissatisfaction of the shippers in case of containers in overbooking. This flexibility is known with the term 'synchromodality'. In this paper, we evaluate via discrete event simulation the application of overbooking. Results show that in certain conditions overbooking can significantly increase profit and utilization of high-capacity means of transport, such as barges and trains. On the other hand, in case of high penalty costs and limited no-show, overbooking may lead to an excessive use of expensive trucks.

Keywords: discrete event simulation, flexibility, inland shipping, multimodality, overbooking

Procedia PDF Downloads 100

Authors: Jordan Georgiev Deliversky

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Fight against migrant smuggling has been put as a priority issues at the European Union policy agenda for more than a decade. The trafficked person, who has been targeted as the object of criminal exploitation, is specifically unique for human trafficking. Generally, the beginning of human trafficking activities is related to profit from the victim’s exploitation. The objective of this paper is to present measures that could result in the limitation of corruption mainly through analyzing the existing legislation framework against corruption in Europe. The analysis is focused on exploring the multiple origins of factors influencing migration processes in Europe, as corruption could be characterized as one of the most significant reasons for refugees to flee their countries. The main results show that law enforcement must turn the focus on the financing of the organized crime groups that are involved in migrant smuggling activities. Corruption has a significant role in managing smuggling operations and in particular when criminal organizations and networks are involved. Illegal migrants and refugees usually represent significant sources of additional income for officials involved in the process of boarding protection and immigration control within the European Union borders.

Keywords: corruption, influence, human smuggling, legislation, migration

Procedia PDF Downloads 326

Authors: Clinton Adas

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Industrial animal farming contributes to numerous problems that humans face, and among these, antimicrobial resistance (AMR) has been identified by the World Health Organisation as a real possibility for the 21st Century. While numerous factors contribute to AMR, one of them is industrial animal farming and its effect on the food chain and environment. In 2017, livestock were given around 73% of all antibiotics worldwide to make them grow faster for profit purposes, to prevent illness caused by unhealthy living conditions, and to treat disease when it breaks out. Many of the antibiotics used provide little benefit to animals, and most are the same as those used by humans - including many deemed critical to human health that should be used sparingly. AMR contributes to millions of illnesses, and in 2019 was responsible for around 4.95 million deaths worldwide. It costs Europe around nine billion euros per year, while it costs the United States (US) around 20 billion dollars per year. While not a simple or quick solution, one way to begin to address the challenge of AMR and other harms from this type of farming is to focus on animal welfare as part of a One Health and Welfare approach, as better welfare requires less antibiotics usage, which may begin to break the cycle.

Keywords: animal and human welfare, industrial animal farming, antimicrobial resistance, one health and welfare, sustainable development goals

Procedia PDF Downloads 69

Authors: V. V. Singh, Yusuf Ibrahim Gwanda, Rajesh Prasad

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In this paper, we focus on the reliability and performance analysis of Computer Centre (CC) at Yobe State University, Damaturu, Nigeria. The CC consists of three servers: one database mail server, one redundant and one for sharing with the client computers in the CC (called as a local server). Observing the different possibilities of the functioning of the CC, the analysis has been done to evaluate the various popular measures of reliability such as availability, reliability, mean time to failure (MTTF), profit analysis due to the operation of the system. The system can ultimately fail due to the failure of router, redundant server before repairing the mail server and switch failure. The system can also partially fail when a local server fails. The failed devices have restored according to Least Recently Used (LRU) techniques. The system can also fail entirely due to a cooling failure of the server, electricity failure or some natural calamity like earthquake, fire tsunami, etc. All the failure rates are assumed to be constant and follow exponential time distribution, while the repair follows two types of distributions: i.e. general and Gumbel-Hougaard family copula distribution.

Keywords: reliability, availability Gumbel-Hougaard family copula, MTTF, internet data centre

Procedia PDF Downloads 500

Authors: Hiroki Yoshikai, Shin’ichi Arakawa, Tetsuya Takine, Masayuki Murata

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API (Application Programming Interface) economy is expected to create new value by converting corporate services such as information processing and data provision into APIs and using these APIs to connect services. Understanding the dynamics of a market of API economy under the strategies of participants is crucial to fully maximize the values of the API economy. To capture the behavior of a market in which the number of participants changes over time, we present a time-evolving market model for a platform in which API providers who provide APIs to service providers participate in addition to service providers and consumers. Then, we use the market model to clarify the role API providers play in expanding market participants and forming ecosystems. The results show that the platform with API providers increased the number of market participants by 67% and decreased the cost to develop services by 25% compared to the platform without API providers. Furthermore, during the expansion phase of the market, it is found that the profits of participants are mostly the same when 70% of the revenue from consumers is distributed to service providers and API providers. It is also found that when the market is mature, the profits of the service provider and API provider will decrease significantly due to their competition, and the profit of the platform increases.

Keywords: API economy, ecosystem, platform, API providers

Procedia PDF Downloads 64

Authors: A. Bello-Olusoji, M. O. Sodamola, Y. A. Adejola, D. D Akinbola

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An eight (8) weeks study was carried out on Four hundred and five (405) African catfish (Clarias gariepinus) juveniles to examine the effect of graded levels of egg shell on their growth performance and survival rates. They were acclimatized for two (2) weeks after which they were weighed and allotted into five dietary treatments of three (3) replicates each and 27 fishes per replicate making a total number of eighty-one (81) fishes per treatment. The dietary treatments contained 0, 25, 50, 75 and 100(%) egg shell inclusion from treatment one to treatment five respectively. Parameter on daily feed intake, weekly weight gain, and daily mortalities were recorded. The result of the experiment indicated that treatment four (4) with 75% inclusion of egg shell was the best in terms of weight gain and survival rates and was significantly different (P<0.05) when compared with the other treatments. For Catfish farming to remain viable in the nearest future, lower feed cost and increased profit are required; it is therefore recommended that diets of African catfish (Clarias gariepinus) be supplemented with well processed egg shell at 75% level of inclusion to achieve this.

Keywords: African catfish, egg shell, performance, performance, survival rate, weight gain

Procedia PDF Downloads 346

Authors: Yessengeldy Kuanyshpayev

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Now in some countries of the world the cellular market is on the point of saturation, in others - positive dynamics of development kept on. The reasons for it are also different, but there are united by their general susceptibility to innovation changes, if they are really innovative. If to take as an example the cellular market of Kazakhstan it is defined by the low percent of smart phones at consumers, the low population density, undercapacity of the 3G channel, and absence of universal access to the LTE technology that limits dynamical growth of this branch. These moments are aggravated by failures of starting commercial projects by private companies which prevent to be implemented and widely adopted to a new product among consumers. The object of the research is possible integration of wireless and program technologies at which introduction the idea can regenerate in an innovation. The analysis of existing projects in the market and the possible union of the technologies through a prism of theoretical bases of innovative activity shows that efficiency of the company by development and introduction of innovations is possible only thanks to strict observance of all terms and conditions of the innovative process which main term is profit. Despite that fact that on a global scale the innovativeness issue of companies is very popular, there are no research about possibility of innovative breaks in the field of wireless access to the Internet in the cellular market of Kazakhstan.

Keywords: innovation, the effectiveness of company, commercialization, cellular market

Procedia PDF Downloads 355

Authors: Lina Martinez, Juan David Rivera Acevedo, Isabella Franco

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The informal economy plays a significant role in the job market in Colombia. Cali, the third largest city in the country, is characterized by a high percentage of socially and economically vulnerable population groups who take part in the urban informal economy, with street vending as their primary source of income. This paper studies the socio-economic dimensions of street vendors in Cali. In particular, it examines why they are unable to capitalize on their comparatively high earnings and are not likely to escape poverty even though they usually profit from government welfare and tax evasion due to the non-regulated character of informality. The analysis of an observational study and two surveys with 637 and 300 participants show that street vending is a cash-based day-to-day activity. Since most of the street vendors do not have access to formal banking systems, they depend on payday loans with incomparably high interest rates which absorb a large share of their income and maintain a continuous indebtedness. This is one of the main reasons why they are unable to improve their living conditions. However, the daily cash flow masks the high opportunity cost of loans and long-term deficits.

Keywords: Colombia, informal economy, payday loans, street vendors

Procedia PDF Downloads 289

Authors: Nusrat T. Chowdhury

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Green Supply Chain Management (GSCM) is becoming a key to success for profitable businesses. The various activities contributing to carbon emissions in a supply chain are transportation, ordering and holding of inventory. This research work develops a mixed-integer nonlinear programming (MINLP) model that considers the scenario of a supply chain with multiple periods, multiple products and multiple suppliers. The model assumes that the demand is deterministic, the buyer has a limited storage space in each period, the buyer is responsible for the transportation cost, a supplier-dependent ordering cost applies for each period in which an order is placed on a supplier and inventory shortage is permissible. The model provides an optimal decision regarding what products to order, in what quantities, with which suppliers, and in which periods in order to maximize the profit. For the purpose of evaluating the carbon emissions, three different carbon regulating policies i.e., carbon cap-and-trade, the strict cap on carbon emission and carbon tax on emissions, have been considered. The proposed MINLP has been validated using a randomly generated data set.

Keywords: green supply chain, carbon emission, mixed integer non-linear program, inventory shortage, carbon cap-and-trade

Procedia PDF Downloads 195

Authors: Kaustav Kundu, Alberto Portioli Staudacher

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Construction industry plays a vital role in the economy of the world. But due to high uncertainty and variability in the industry, its performance is not as efficient in terms of quality, lead times, productivity and costs as of other industries. Moreover, there are continuous conflicts among the different actors in the construction supply chains in terms of profit sharing. Previous studies suggested partnership as an important approach to promote cooperation among the different actors in the construction supply chains and thereby it improves the overall performance. Construction practitioners tried to focus on partnership which can enhance the performance of construction supply chains but they are not fully aware of different approaches and techniques for improving partnership. In this research, a systematic review on partnership in relation to construction supply chains is carried out to understand different elements influencing the partnership. The research development of this domain is analyzed by reviewing selected articles published from 1996 to 2015. Based on the papers, three major elements influencing partnership in construction supply chains are identified: “Lean approach”, “Relationship building” and “E-commerce applications”. This study analyses the contributions in the areas within each element and provides suggestions for future developments of partnership in construction supply chains.

Keywords: partnership, construction, lean, SCM, supply chain management

Procedia PDF Downloads 405

Authors: Xiaohong Wu, Tao Zhang

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Since Macau opened its door to international gambling firms in 2002, Macau casino hotel industry has been booming. Casino hotels are different from the non-casino hotels in the main profit source and services. The paper aims to analyze differences in employees’ work stress and job satisfaction across the casino hotels and the non-casino hotels. Through questionnaires, the paper investigates 200 employees from casino hotels and 200 employees from non-casino hotels. Work stress and job satisfaction of employees in casino hotels and non-casino hotels are compared. Statistic techniques such as descriptive statistics and one-way analysis of variance (one-way ANOVA) are applied. The paper tries to achieve the below aims: Firstly, explore and compare the impact of gender, job position, marital status and fertility status on employees’ work stress and job satisfaction. Secondly, explore the perception of work stress and job satisfaction across casino hotel and non-casino hotel employees. Thirdly, explore the relationship between work stress and job satisfaction. The result indicates there are not significant differences in employees’ work stress and job satisfaction perception between different genders, positions, marital situations and fertility situations. The result confirms there are significant differences in employees’ work stress and job satisfaction perception between casino and non-casino employees. Moreover, Work stress negatively influences job satisfaction.

Keywords: casino, employee, job satisfaction, work stress

Procedia PDF Downloads 286

Authors: Akor Omachile Opaluwah

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Entrepreneurs are heralded as a very vital force in the growth of economies. This is because they create businesses, employ people, have direct access to the local consumer, and primarily utilize local sources of raw materials, have an understanding of the immediate need of consumers, and they have the capacity to keep in motion the economy. The rise of social enterprises takes these advantages further beyond the business and economic benefits. These Social enterprises help address developmental issues in the society while maintaining a profit for their investors and shareholders. These combined roles create a unique synergy between the civil society and the market, therefore placing the social enterprise in a position where they can access directly, the benefits of the market while meeting the needs of the citizens and their environment. With such a unique position, social enterprises hold a place in the development discourse that has previously been left unexplored. This hybridisation of the functions of civil societies and the market can provide to development, practices, and benefits that have previously been only available in trace amounts. It, therefore, is imperative to understand the efficacy of social enterprises. With the discourse of social enterprises still in its early stages. This paper looks at selected social enterprise cases in Nigeria and analyses their approach and contribution to development.

Keywords: business, civil society, development, entrepreneurs, innovation, market, Nigeria, social enterprise

Procedia PDF Downloads 346

Authors: Jana Heimel, Franziska Drescher, Lauren Ugur, Graciela Kuchle

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Sharing platforms are a widely investigated field. However, there is a research gap with a lack of focus on ‘real’ (non-profit-orientated) sharing platforms. The research project addresses this gap by conducting an empirical study on a private peer-to-peer (P2P) network to investigate cooperative behavior from a socio-psychological perspective. In recent years the conversion from possession to accessing is increasingly influencing different sectors, particularly the traveling industry. The number of people participating in hospitality exchange platforms like Airbnb, Couchsurfing, and Warmshowers (WS) is rapidly growing. WS is an increasingly popular online community that is linking cycling tourists and locals. It builds on the idea of the “sharing economy” as a not-for-profit hospitality network for bicycle tourists. Hosts not only provide a sleeping berth and warm shower free of charge but also offer additional services to their guests, such as cooking and washing clothes for them. According to previous studies, they are motivated by the idea of promoting cultural experience and forming new friendships. Trust and reciprocity are supposed to play major roles in the success of such platforms. The objective of this research project is to analyze the reciprocity behavior within the WS community. Reciprocity is the act of giving and taking among each other. Individuals feel obligated to return a favor and often expect to increase their own chances of receiving future benefits for themselves. Consequently, the drivers that incite giving and taking, as well as the motivation for hosts and guests, are examined. Thus, the project investigates a particular tourism offer that contributes to sustainable tourism by analyzing P2P resp. cyclist-to-cyclist, C2C) tourism. C2C tourism is characterized by special hospitality and generosity. To find out what motivations drive the hosts and which determinants drive the sharing cycling economy, an empirical study has been conducted globally through an online survey. The data was gathered through the WS community and comprised responses from more than 10,000 cyclists around the globe. Next to general information mostly comprising quantitative data on bicycle tourism (year/tour distance, duration and budget), qualitative information on traveling with WS as well as hosting was collected. The most important motivations for a traveler is to explore the local culture, to save money, and to make friends. The main reasons to host a guest are to promote the use of bicycles and to make friends, but also to give back and pay forward. WS members prefer to stay with/host cyclists. The results indicate that C2C tourists share homogenous characteristics and a similar philosophy, which is crucial for building mutual trust. Members of WS are generally extremely trustful. The study promotes an ecological form of tourism by combining sustainability, regionality, health, experience and the local communities' cultures. The empirical evidence found and analyzed, despite evident limitations, enabled us to shed light, especially on the issue of motivations and social capital, and on the functioning of ‘sharing’ platforms. Final research results are intended to promote C2C tourism around the globe to further replace conventional by sustainable tourism.

Keywords: bicycle tourism, homogeneity, reciprocity, sharing economy, trust

Procedia PDF Downloads 90

Authors: Nicolas Lopez-Villalobos, Dorian J. Garrick, Hugh T. Blair

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Many dairy goat farmers of New Zealand milk herds of mixed breed does. Simultaneous evaluation of sires and does across breed is required to select the best animals for breeding on a common basis. Across-breed estimated breeding values (EBV) and estimated producing values for 208-day lactation yields of milk (MY), fat (FY), protein (PY) and somatic cell score (SCS; LOG2(SCC) of Saanen, Nubian, Alpine, Toggenburg and crossbred dairy goats from 75 herds were estimated using a test day model. Evaluations were based on 248,734 herd-test records representing 125,374 lactations from 65,514 does sired by 930 sires over 9 generations. Averages of MY, FY and PY were 642 kg, 21.6 kg and 19.8 kg, respectively. Average SCC and SCS were 936,518 cells/ml milk and 9.12. Pure-bred Saanen does out-produced other breeds in MY, FY and PY. Average EBV for MY, FY and PY compared to a Saanen base were Nubian -98 kg, 0.1 kg and -1.2 kg; Alpine -64 kg, -1.0 kg and -1.7 kg; and Toggenburg -42 kg, -1.0 kg and -0.5 kg. First-cross heterosis estimates were 29 kg MY, 1.1 kg FY and 1.2 kg PY. Average EBV for SCS compared to a Saanen base were Nubian 0.041, Alpine -0.083 and Toggenburg 0.094. Heterosis for SCS was 0.03. Breeding values are combined with respective economic values to calculate an economic index used for ranking sires and does to reflect farm profit.

Keywords: breed effects, dairy goats, milk traits, test-day model

Procedia PDF Downloads 300

Authors: Derya Güler Aydin, Bahar Araz Takay

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Two different forms of competition theories can be distinguished: Those theories that emphasize the equilibrating forces created by competition, and those emphasizing the disequilibrating forces. This difference can be attributed, among other things, to the differences regarding the functioning of the market economy; that is to say, the basic problem here is whether competition should be understood as a static state or a dynamic process. This study aims to analyze the dynamic competition theories by K. Marx and J. A. Schumpeter and neo- Schumperians all of which focus on the dynamic role played by competition through creating disequilibria, endogenous structural change and social transformation as a distinguishing characteristic of the market system. With this aim, in the first section, after examining the static, neoclassical competition theory, both Marx‟s theory, which is based on profit rate differentials, and Schumpeter‟s theory, which is based on the notion of “creative destruction”, will be discussed. In the second section, the long-term fluctuations, based on creative gales of destruction, the concept will be examined under the framework of techno-economic paradigm. It is argued that the dynamic, even disequilibrium tendencies created by the competition process should be regarded in both understanding the working of capitalism and social transformation of the system.

Keywords: competition, techno-enomic paradigm, Schumpeter, social evolution

Procedia PDF Downloads 207

Authors: Ali Mana, Okba Lahmar

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It is natural that sports media seeks to reach the audience of viewers wherever they are and at any time. Perhaps YouTube is one of the most important platforms in which the Algerian audience resides, as Alexa, which is one of the most important tools for providing usage statistics, indicated that the number of Algerian audience views of this site has exceeded 11 million views per month, and many Algerian content makers have initiated the creation of Sports channels in order to achieve profit goals. They also seek through it to market professional footballers abroad, in addition to influencing the opinions of fans towards them. This scene directs us to study the extent to which these channels contribute to discovering professional players, marketing to them, and protecting them from negative criticism. We also aim to know the extent of the influence of the content makers of these channels on the Algerian audience and to raise their awareness of the positive support of the players, regardless of their level of performance. To collect the necessary data, a descriptive study was conducted in which interview and observation were adopted as two basic tools. The sample included 04 sports content makers out of the total community that organizes more than 50 channels. It was chosen intentionally and included channels with more than 300,000 subscribers.

Keywords: sports content creators, YouTube, professional player, Algerian public, sports marketing

Procedia PDF Downloads 25

Authors: Ozgu Turgut

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Water scarcity is a problem for many regions which requires immediate action, and solutions cannot be postponed for a long time. It is known that farming consumes a significant portion of usable water. Although in recent years, the efforts to make the transition to dripping or spring watering systems instead of using surface watering started to pay off. It is also known that this transition is not necessarily translated into an increase in the capacity dedicated to other water consumption channels such as city water or power usage. In order to control and allocate the water resource more purposefully, new watering systems have to be used with monitoring abilities that can limit the usage capacity for each farm. In this study, a decision support model which relies on a bi-objective stochastic linear optimization is proposed, which takes crop yield and price volatility into account. The model generates annual planting plans as well as water usage limits for each farmer in the region while taking the total value (i.e., profit) of the overall harvest. The mathematical model is solved using the L-shaped method optimally. The decision support model can be especially useful for regional administrations to plan next year's planting and water incomes and expenses. That is why not only a single optimum but also a set of representative solutions from the Pareto set is generated with the proposed approach.

Keywords: decision support, farming, water, tactical planning, optimization, stochastic, pareto

Procedia PDF Downloads 50

Authors: Shan Li, Qiuwen Ma

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Integrated project delivery (IPD) is a project delivery method distinguished by a shared risk/rewards mechanism and multiparty agreement. IPD has drawn increasingly attention from construction industry because of its efficiency of solving adversarial problems and reliability to deliver high-performing buildings. However, some evidence showed that some project participants obtained less profit from IPD projects than the typical projects. They attributed it to the unfair IPD sharing mechanism, which resulted in additional time and cost of negotiation on the sharing fractions among project participants. The study is aimed to investigate the reward distribution by constructing a principal-agent model. Based on cooperative game theory, it is examined how to distribute the shared project rewards between client and non-client parties, and identify the sharing fractions among non-client parties. It is found that at least half of the project savings should be allocated to the non-client parties to motivate them to create more project value. Second, the client should raise his sharing fractions when the integration among project participants is efficient. In addition, the client should allocate higher sharing fractions to the non-client party who is more able. This study can help the IPD project participants make fair and motivated sharing mechanisms.

Keywords: cooperative game theory, IPD, principal agent model, sharing mechanism

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Authors: Zahra Hatami, Hesham Ali, David Volkman

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Selecting a portfolio for investing is a crucial decision for individuals and legal entities. In the last two decades, with economic globalization, a stream of financial innovations has rushed to the aid of financial institutions. The importance of selecting stocks for the portfolio is always a challenging task for investors. This study aims to create a financial network to identify optimal portfolios using network centralities metrics. This research presents a community detection technique of superior stocks that can be described as an optimal stock portfolio to be used by investors. By using the advantages of a network and its property in extracted communities, a group of stocks was selected for each of the various time periods. The performance of the optimal portfolios compared to the famous index. Their Sharpe ratio was calculated in a timely manner to evaluate their profit for making decisions. The analysis shows that the selected potential portfolio from stocks with low centrality measurement can outperform the market; however, they have a lower Sharpe ratio than stocks with high centrality scores. In other words, stocks with low centralities could outperform the S&P500 yet have a lower Sharpe ratio than high central stocks.

Keywords: portfolio management performance, network analysis, centrality measurements, Sharpe ratio

Procedia PDF Downloads 116

Authors: Fatima Ali Abbass, Hassan Ibrahim Rkein

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The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency.

Keywords: cryptocurrency, accounting, IFRS, GAAP, classification, measurement

Procedia PDF Downloads 66

Authors: G. Suja, J. Sreekumar, A. N. Jyothi, V. S. Santhosh Mithra

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Worldwide concerns regarding food safety, environmental degradation and threats to human health have generated interest in alternative systems like organic farming. Tropical tuber crops, cassava, sweet potato, yams, and aroids are food-cum-nutritional security-cum climate resilient crops. These form stable or subsidiary food for about 500 million global population. Cassava, yams (white yam, greater yam, and lesser yam) and edible aroids (elephant foot yam, taro, and tannia) are high energy tuberous vegetables with good taste and nutritive value. Seven on-station field experiments at ICAR-Central Tuber Crops Research Institute, Thiruvananthapuram, India and seventeen on-farm trials in three districts of Kerala, were conducted over a decade (2004-2015) to compare the varietal response, yield, quality and soil properties under organic vs conventional system in these crops and to develop a learning system based on the data generated. The industrial, as well as domestic varieties of cassava, the elite and local varieties of elephant foot yam and taro and the three species of Dioscorea (yams), were on a par under both systems. Organic management promoted yield by 8%, 20%, 9%, 11% and 7% over conventional practice in cassava, elephant foot yam, white yam, greater yam and lesser yam respectively. Elephant foot yam was the most responsive to organic management followed by yams and cassava. In taro, slight yield reduction (5%) was noticed under organic farming with almost similar tuber quality. The tuber quality was improved with higher dry matter, starch, crude protein, K, Ca and Mg contents. The anti-nutritional factors, oxalate content in elephant foot yam and cyanogenic glucoside content in cassava were lowered by 21 and 12.4% respectively. Organic plots had significantly higher water holding capacity, pH, available K, Fe, Mn and Cu, higher soil organic matter, available N, P, exchangeable Ca and Mg, dehydrogenase enzyme activity and microbial count. Organic farming scored significantly higher soil quality index (1.93) than conventional practice (1.46). The soil quality index was driven by water holding capacity, pH and available Zn followed by soil organic matter. Organic management enhanced net profit by 20-40% over chemical farming. A case in point is the cost-benefit analysis in elephant foot yam which indicated that the net profit was 28% higher and additional income of Rs. 47,716 ha-1 was obtained due to organic farming. Cost-effective technologies were field validated. The on-station technologies developed were validated and popularized through on-farm trials in 10 sites (5 ha) under National Horticulture Mission funded programme in elephant foot yam and seven sites in yams and taro. The technologies are included in the Package of Practices Recommendations for crops of Kerala Agricultural University. A learning system developed using artificial neural networks (ANN) predicted the performance of elephant foot yam organic system. Use of organically produced seed materials, seed treatment in cow-dung, neem cake, bio-inoculant slurry, farmyard manure incubated with bio-inoculants, green manuring, use of neem cake, bio-fertilizers and ash formed the strategies for organic production. Organic farming is an eco-friendly management strategy that enables 10-20% higher yield, quality tubers and maintenance of soil health in tuber crops.

Keywords: eco-agriculture, quality, root crops, healthy soil, yield

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Authors: Niya Chen, Jennifer Chan

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In the financial market, risk management helps to minimize potential loss and maximize profit. There are two ways to assess risks; the first way is to calculate the risk directly based on the volatility. The most common risk measurements are Value at Risk (VaR), sharp ratio, and beta. Alternatively, we could look at the quantile of the return to assess the risk. Popular return models such as GARCH and stochastic volatility (SV) focus on modeling the mean of the return distribution via capturing the volatility dynamics; however, the quantile/expectile method will give us an idea of the distribution with the extreme return value. It will allow us to forecast VaR using return which is direct information. The advantage of using these non-parametric methods is that it is not bounded by the distribution assumptions from the parametric method. But the difference between them is that expectile uses a second-order loss function while quantile regression uses a first-order loss function. We consider several quantile functions, different volatility measures, and estimates from some volatility models. To estimate the expectile of the model, we use Realized Conditional Autoregressive Expectile (CARE) model with the bayesian method to achieve this. We would like to see if our proposed models outperform existing models in cryptocurrency, and we will test it by using Bitcoin mainly as well as Ethereum.

Keywords: expectile, CARE Model, CARR Model, quantile, cryptocurrency, Value at Risk

Procedia PDF Downloads 82

Authors: Ezekiel Ejiofor Nnadi

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Nigeria construction industry is known for its active construction activities. This has earmarked the industry to be the key to economic growth of the nation. It has largest employer of labour and gives sustenance to other industries like manufacturing industry. While this is a sign of growth and prosperity; the waste generated by the industry has always been a problem and a serious concern. It results in wastage of economic gain and has resultant health effect on the populace apart from injury being sustained on sites. This work provides a platform to learn more about construction waste, its management strategy and how to reduce waste production in Nigeria construction industry. Construction sites, waste management authority and public health institutions in Lagos as the centre of most construction activities in Nigeria were selected, and a set of questionnaire was administered to using the systematic sampling technique. Descriptive statistics and relative importance index (RII) technique were employed for the analysis of the data gathered. The findings of the analysis show that excessive wastes reduce contractors’ profit margin and also that some construction wastes contain hazardous and toxic elements such as lead, asbestos or radioactive materials which required proper handling and effective disposal. The conclusion was drawn that the check on waste on construction sites starts with the designers to the contractors who execute on site.

Keywords: construction cost, construction industry, economic growth, materials wastes

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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)

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Authors: Md. Nakib Ul Hasan, Md. Ariful Islam, Md. Sumon Miah, Misbah Ul Hoque, Bulbul Ahmed

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The variability of cotton fiber characteristics has always been influenced by origin, weather conditions, method of culturing, and harvesting. Spinners work tirelessly to ensure consistent yarn quality by using the different origins of fibers to maximizes the profit margin. Spinners often fail to select desired raw materials of various origins to achieve an appropriate mixing plan due to the lack of knowledge on the interrelationship among fiber properties. The purpose of this research is to investigate the correlations among dominating fiber properties such as micronaire, strength, breaking elongation, upper half mean length, length uniformity index, short fiber index, maturity, reflectance, and yellowness. For this purpose, fiber samples from 500 Indian cotton bales and 350 Greek cotton bales were collected and tested using the high volume instrument (HVI). The fiber properties dataset was then compiled and analyzed using python 3.7 to determine the correlations matrix. Results show that Indian cotton fiber have highest correlation between strength-mat = 0.84, followed by SFI-Unf =-0.83, and Neps-Unf = -0.72. Greek cotton fiber, in contrast, have highest correlation between SFI-Unf =-0.98, followed by SFI-Mat = 0.89, +b-Len = 0.84, and Str-Mat = 0.74. Overall, the Greek cotton fiber showed a higher correlational matrix than compared to that of Indian cotton fiber.

Keywords: cotton fiber, fiber properties correlation, Greek cotton, HVI, Indian cotton, spinning

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Authors: Pallav Singh, Rajesh Yabaji, Rajesh Dhir, Chanakya Hridaya

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Supply Chain Costs for the Indian Industries have been on an exponential trend due to steep inflation on fundamental cost factors – Fuel, Labour, Rents. In this changing context organizations have been focusing on adopting multiple approaches to keep logistics costs under control to protect the profit margins. The lever of ‘Business to Business (B2B) collaboration’ can be used by organizations to garner higher value. Given the context of Indian Logistics Industry the penetration of B2B Collaboration initiatives have been limited. This paper outlines a structured framework for adoption of B2B collaboration through discussion of a successful initiative between ITC’s Leaf Tobacco Business and a leading Indian Media House. Multiple barriers to such a collaborative process exist which need to be addressed through comprehensive structured approaches. This paper outlines a generic framework approach to B2B collaboration for the Indian Logistics Space, outlining the guidelines for arriving at potential opportunities, identification of collaborators, effective tie-up process, design of operations and sustenance factors. The generic methods outlined can be used in any other industry and also builds a foundation for further research on many topics.

Keywords: business to business collaboration, reverse haul logistics, transportation cost optimization, exports logistics

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Authors: Syafinatul Fitri

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Cakrawala Baca is one of social organization in Indonesia that realize to transform its organization into social enterprise to create more sustainable organization that result more sustainable social impact. Cakrawala Baca implements voluntary system for its organization and it has passive social target. It funds its program by several fund rising activities that depend on donors or sponsor. Therefore social activity that held does not create sustainable social impact. It is different with social enterprise that usually more independent in funding its activity through social business and implement active social target and professional work for organization member. Therefore social enterprise can sustain its organization and then able to create sustainable social impact. Developing transformation model from social movement into social enterprise is the focus of this study. To achieve the aim of study, benchmark approach from successful social enterprise in Indonesia that has previously formed as social movement is employed. The benchmark is conducted through internal and external scanning that result the understanding of how they transformed into social enterprise. After understanding SAM and Agritektur transformation, transformation pattern is formulated based on their transformation similarities. This transformation pattern will be implemented to formulate the transformation plan for Cakrawala Baca to be a social enterprise.

Keywords: social movement/social organization, non-profit organization (NPO), social enterprise, transformation, Benchmarks approach

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Authors: Adel Fatima Zohra, Guendouz Abdelkader

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The solitary sector seems to appear nowadays as a third sector along the private and public ones, because of their ineptitude to take in charge the social exigency of the society regarding the lack in their local assets and the weakness of their financial institutions. The role of this sector is promoting a set of activities in the field of the charity, without aiming neither the individual profit nor a power practice. With the rise in the need of domestic resources, it is possible to count on the Zakat funding to realize some investment projects in order to develop the local society in many sectors as health, agriculture … etc. In the Islamic financial system, the Zakat is likely one of the most important instruments in financing the local development with the respect of the “Charia” rules: the amount of the Zakat is 2.5% of a wealth equivalent of each 85 gr of gold possessed since one year at least. In Algeria a fund of Zakat, was created since 2003 as an alternative to the public finding of development. This fund is a religious and social institution under the supervision of the ministry of religious affairs. This supervision covers two tasks: the first is traditional witch concern the distribution and the forwarding of the zakat to the poor people, and the second is modern concerning the financing of microcredits in the aim to enhance social and economic development. In this paper, we try to highlight the main role of the Zakat fund and its impact on the both social and economic development in Algeria.

Keywords: dogmatic instrument, solidary sector, zakat fund, micro project

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Authors: Anupam Purwar

Abstract:

In conventional consumer product industry, stockouts are taken care by carrying buffer stock to check underserving caused by changes in customer demand, incorrect forecast or variability in lead times. But, for food outlets, the alternate of carrying buffer stock is unviable because of indispensable need to serve freshly cooked meals. Besides, the food outlet being the sole provider has no incentives to reduce stockouts, as they have no fear of losing revenue, gross profit, customers and market share. Hence, innovative, easy to implement and practical ways of addressing the twin problem of long queues and poor customer experience needs to be investigated. Current work analyses the demand pattern of 11 different food items across a routine day. Based on this optimum resource allocation for all food items has been carried out by solving a linear programming problem with cost minimization as the objective. Concurrently, recommendations have been devised to address this demand and supply side problem keeping in mind their practicability. Currently, the recommendations are being discussed and implemented at ISB (Indian School of Business) Hyderabad campus.

Keywords: F&B industry, resource allocation, demand management, linear programming, LP, queuing analysis

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