Search results for: protect and promote foreign investment

Authors: Linda Torresin

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This paper is devoted to the Russian as a Foreign Language (RFL) textbook, which is understood as a fundamental element of the RFL system. The aim of the study is to explore the role of the RFL textbook in modern RFL teaching theories and practices. It is suggested that the RFL textbook is not a secondary factor but contributes to the advancement and rewriting of both RFL theories and practices. This study applies to the RFL textbook theory's recent pedagogical developments in education. Therefore, the RFL system is conceived as a complex adaptive system whose elements (teacher, textbook, students, etc.) interact in a dynamic network of interconnections. In particular, the author shows that the textbook plays a central role in the RFL system since it may change and even renew RFL teaching from both theoretical and practical perspectives. On the one hand, in fact, the use of an RFL textbook may impact teaching theories: that is, the textbook may either consolidate preexisting theories or launch new approaches. On the other hand, the RFL textbook may also influence teaching practices by reinforcing the preexisting ones or encouraging teachers to try new strategies instead. All this allows the RFL textbook, within the RFL complex adaptive system, to exert an influence on the specific teaching contexts in which Russian is taught, interacting with the other elements of the system itself. Through its findings, this paper contributes to the advancement of research on RFL textbook theory.

Keywords: adaptive system, foreign language textbook, teaching Russian as a foreign language, textbook of Russian as a foreign language

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Authors: Elleuch Imen

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In this paper, it propose a new approach for learning Arabic as a foreign language via audio-visual translation, particularly subtitling. The approach consists of developing video sequences appropriate to different levels of learning (from A1 to C2) containing conversations, quizzes, games and others. Each video aims to achieve a specific objective, such as the correct pronunciation of Arabic words, the correct syntactic structuring of Arabic sentences, the recognition of the morphological characteristics of terms and the semantic understanding of statements. The subtitled videos obtained can be incorporated into different Arabic second language learning tools such as Moocs, websites, platforms, etc.

Keywords: arabic foreign language, learning, audio-visuel translation, subtitled videos

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Authors: Maria Jose Ramos Villagra

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Since the boom of tourism in the late 80s and 90s, Costa Rica is considered as one of the leading countries for tourism. The size and geography of its territory, its low population density, and its image of being one of the most stable Latin American democracies make Costa Rica an attractive and safe target for foreign investors. Land ownership by foreign investors has increased as the natural resources in rural communities have been exhausted. When nature becomes an instrument to increase profit, it loses its communal value contributing to local communities losing their sovereignty and access to basic resources. The rural regions in proximity to the most tourist areas are often the most marginalized. The purpose of this research is to use the case of the rural community Sardinal and its struggle to protect its aquifer to investigate the economic and cultural consequences of the tourism boom in Costa Rican rural communities. The process of reclaiming the access to and the preservation of the aquifer enabled individuals to redefine their political views and their political power. The case of Sardinal broke the stereotypes about rural individuals and their ability to politically educate themselves and organize. Sardinal´s conflict brought to light the necessity of questioning the role of modern tourism as part of Costa Rica’s national identity, and as a tool for development

Keywords: Costa Rica, tourism, rural development, economy, ecotourism, environment, water, Sardinal

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Authors: Jiahui Yang, John Quigley, Lesley Walls

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In this paper, the authors develop a stochastic model regarding the investment in supplier delivery performance development from a buyer’s perspective. The authors propose a multivariate model through a Multinomial-Dirichlet distribution within an Empirical Bayesian inference framework, representing both the epistemic and aleatory uncertainties in deliveries. A closed form solution is obtained and the lower and upper bound for both optimal investment level and expected profit under uncertainty are derived. The theoretical properties provide decision makers with useful insights regarding supplier delivery performance improvement problems where multiple delivery statuses are involved. The authors also extend the model from a single supplier investment into a supplier portfolio, using a Lagrangian method to obtain a theoretical expression for an optimal investment level and overall expected profit. The model enables a buyer to know how the marginal expected profit/investment level of each supplier changes with respect to the budget and which supplier should be invested in when additional budget is available. An application of this model is illustrated in a simulation study. Overall, the main contribution of this study is to provide an optimal investment decision making framework for supplier development, taking into account multiple delivery statuses as well as multiple projects.

Keywords: decision making, empirical bayesian, portfolio optimization, supplier development, supply chain management

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Authors: Mohammad Talha, Abdullah Sallehhuddin Abdullah Salim, Abdul Aziz Abdul Jalil, Norzarina Md Yatim

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The significant contribution of institutional investors across the globe in socially responsible investment (SRI) is well-documented in the literature. Nevertheless, how the SRI behavior of pressure-resistant, pressure-sensitive and pressure-indeterminate institutional investors remain unexplored extensively. This study examines the moderating effect of institutional investors towards socially responsible investment behavior in the context of emerging economies. This study involved 229 institutional investors in Malaysia. A total of 1,145 questionnaires were distributed. Out of these, 308 (130 pressure sensitive institutional investors and 178 pressure resistant institutional investors), representing a usable rate of 26.9 per cent, were found fit for data analysis. Utilizing multi-group analysis via AMOS, this study found evidence for the presence of moderating effect by a type of institutional investor topology in socially responsible investment behavior. At intentional level, it established that type of institutional investor was a significant moderator in the relationship between subjective norms, and caring ethical climate with intention among pressure-resistant institutional investors, as well as between perceived behavioral controls with intention among pressure-sensitive institutional investors. At the behavioral level, the results evidenced that there was only a significant moderating effect between intention and socially responsible investment behavior among pressure-resistant institutional investors. The outcomes are expected to benefit policy makers, regulators, and market participants in order to leap forward SRI growth in developing economies. Nevertheless, the outcomes are limited to a few factors, and it is believed that future studies shall address those limitations.

Keywords: socially responsible investment, behavior, pressure sensitive investors, pressure insensitive investors, Institutional Investment Malaysia

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Authors: Kuo-C. Lo, Chung-H. Hung

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Invasion of foreign air pollutants to deteriorate local air quality has become an emerging international issue of concern. This study aimed to apply meteorological and air quality model, WRF-Chem (V3.1), for simulating and analyzing the phenomenon of forming of high-concentrated particulate matters, PM10 and PM2.5, in ambient air of Taiwan during January 17th to 19th, 2014. The foreign air pollutants were mainly from long-distance transport of air pollutants of China being transported with a strong continental cold high. It was observed that PM10 and PM2.5 peaked as high as 182~588 μg/m3 and 95~165 μg/m3, respectively, in the ambient air of west side of Taiwan. They were about 2~3 folds higher than the usual concentrations of particulate matters in these seasons.

Keywords: WRF-Chem, air pollution, PM2.5, ambient air quality

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Authors: Yana Shanti Manipuspika

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Anxiety has potential to negatively affect foreign language learning process. This feeling leads the learners hesitate to communicate. This present study aimed at investigating the relationship between students’ anxiety and willingness to communicate of Indonesian EFL learners. There were 67 participants in this study who were the English Department students of Vocational Program of University of Brawijaya, Malang. This study employed Foreign Language Classroom Anxiety Scale (FLCAS) and the Willingness to Communicate (WTC) scale. The results of this study showed that the respondents had communication apprehension, test anxiety, and fear of negative evaluation. This study also revealed that English Department students of Vocational Program University of Brawijaya had high level of anxiety and low level of willingness to communicate. The relationship between foreign language classroom anxiety and willingness to communicate was found to be sufficiently negative. It is suggested for the language teachers to identify the causes of students’ language anxiety and try to create cheerful and less stressful atmosphere in the classroom. It is also important to find a way to develop their teaching strategies to stimulate students’ willingness to communicate.

Keywords: English as a foreign language (EFL), foreign language classroom anxiety (FLCA), vocational program, willingness to communicate (WTC)

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Authors: Georgiana Ciobotaru

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The vocabulary that foreign students assimilate once they start studying the Romanian language must allow them to develop the linguistic competence of oral and written expression, but also the intercultural one, necessary for their integration into the new socio-cultural environment. Therefore, the familiarization courses with Romanian as a foreign language aim at fundamental language acquisitions in order to obtain the expected level of Romanian language. They also relate differently to the new culture and the new language they come in contact with, having a distinct way of expressing themselves. Foreign students want to continue their university and postgraduate studies at specialized faculties in the country; therefore, they need both a general language for their integration into society and for interaction with others, Romanians or students from countries other than their own, but also from a specialized language that facilitates didactic communication and professional development. The complexity of the vocabulary must thus cover the daily communication needs, but also the subsequent evolution of each one. This paper aims to illustrate the most important semantic fields that students must assimilate in order to crystallize a linguistic identity in the new context of their personal and professional development and to help them cope with the culture shock.

Keywords: integration, intercultural, language, linguistic, vocabulary

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Authors: Mussa Hussaini, Supasith Chonglerttham

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Stocks are usually classified according to their characteristics which are unique enough such that the performance of each category can be differentiated from another. The reasons behind such classifications in the financial market are sometimes financial innovation or it can also be because of finding a premium in a group of stocks with similar features. One of the major classifications in stocks market is called momentum strategy. Based on this strategy stocks are classified according to their past performances into past winners and past losers. Momentum in a stock market refers to the idea that stocks will keep moving in the same direction. In other word, stocks with rising prices (past winners stocks) will continue to rise and those stocks with falling prices (past losers stocks) will continue to fall. The performance of this classification has been well documented in numerous studies in different countries. These studies suggest that past winners tend to outperform past losers in the future. However, academic research in this direction has been limited in countries such as Thailand and to the best of our knowledge, there has been no such study in Thailand after the financial crisis of 1997. The significance of this study stems from the fact that Thailand is an open market and has been encouraging foreign investments as one of the means to enhance employment, promote economic development, and technology transfer and the main equity market in Thailand, the Stock Exchange of Thailand is a crucial channel for Foreign Investment inflow into the country. The equity market size in Thailand increased from $1.72 billion in 1984 to $133.66 billion in 1993, an increase of over 77 times within a decade. The main contribution of this paper is evidence for size category in the context of the equity market in Thailand. Almost all previous studies have focused solely on large stocks or indices. This paper extends the scope beyond large stocks and indices by including small and tiny stocks as well. Further, since there is a distinct absence of detailed academic research on momentum strategy in the Stock Exchange of Thailand after the crisis, this paper also contributes to the extension of existing literature of the study. This research is also of significance for those researchers who would like to compare the performance of this strategy in different countries and markets. In the Stock Exchange of Thailand, we examined the performance of momentum strategy from 2010 to 2014. Returns on portfolios are calculated on monthly basis. Our results on momentum strategy confirm that there is positive momentum profit in large size stocks whereas there is negative momentum profit in small size stocks during the period of 2010 to 2014. Furthermore, the equal weighted average of momentum profit of both small and large size category do not provide any indication of overall momentum profit.

Keywords: momentum strategy, past loser, past winner, stock exchange of Thailand

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Authors: Kanokwan Somoon, Chumporn Moorapun

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A product’s perceived value may increase purchase intention. Value perceptions may differ among cultures. Window displays can be used to increase products’ information and value. This study aims to investigate the relationship between window display design elements and value perceptions of local products between two different cultures. The research methodology is based on survey research. Several window displays in favorite of tourist spots were selected as a unit of study. Also, 100 tourists (56 Thai tourists and 44 foreign tourists) were asked to complete a questionnaire. T-Tests were used to analyze the comparison. Then, the results were compared to Thai and foreign tourists. Finally, the results find that Thai and foreign tourists have different perception towards three design elements that are size of the window, props and colour lighting. The differences of their perceptions signify the different cultural values they adhere to.

Keywords: cross-culture, window display, Thai craft product, environmental perception

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Authors: Rouabah Zahra, Tlidjane Madjid, Belkacem Lilia, Hafid Nadia, Mallem Mouna

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The goal of the current study was to evaluate the gross and histopathological changes caused by the presence of non-biodegradable foreign bodies (plastic bags) in the rumen-reticulum of cattle. To identify this problem, we conducted this study at a slaughterhouse on a total of 212 cattle without any previous selection. After slaughter and draining of the rumen, foreign bodies and macroscopic lesions were investigated, and rumen samples were taken for histopathological examination. Gross examination of the rumen-reticulum with non-biodegradable foreign bodies revealed congestion, hemorrhage, stunting, sagging, atrophy, and thinning of the papillae had been observed. Areas of erosion and ulceration were also observed in the rumen-reticulum of all cattle harboring a large quantity of plastic bags. Ulcerations and nodular formations were also present. The rumen-reticulum wall was thinner than normal and had a light-mottled wall and compressed papillae. The histopathological examination revealed a wide variety of lesions. We observed especially lesions of fragmentary or segmental ruptures, destruction, necrosis, degeneration and focal hyperplasia of the keratinized epithelium. The papillae are shortened, enlarged, atrophied, folded, and compressed. The length of the taste buds was reduced. These observed histopathological changes can be attributed to mechanical irritation induced by plastic bags or released chemicals by these non-biodegradable foreign bodies.

Keywords: cattle, non-biodegradable foreign bodies, lesions, rumen

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Authors: Piyaphan Changwatchai

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Global value chain is important for current world economy through foreign direct investment. Multinational enterprises' efficient location seeking for each stage of production lead to global production network and more global value chain participation of several countries. Global value chain participation has several effects on participating countries in several aspects including the environment. The effect of global value chain participation on the environment is ambiguous. As a result, this research aims to study the effect of global value chain participation on countries' CO₂ emission and methane emission by using quantitative analysis with secondary panel data of sixty countries. The analysis is divided into two types of global value chain participation, which are forward global value chain participation and backward global value chain participation. The results show that, for forward global value chain participation, GDP per capita affects two types of pollutants in downward bell curve shape. Forward global value chain participation negatively affects CO₂ emission and methane emission. As for backward global value chain participation, GDP per capita affects two types of pollutants in downward bell curve shape. Backward global value chain participation negatively affects methane emission only. However, when considering Asian countries, forward global value chain participation positively affects CO₂ emission. The recommendations of this research are that countries participating in global value chain should promote production with effective environmental management in each stage of value chain. The examples of policies are providing incentives to private sectors, including domestic producers and MNEs, for green production technology and efficient environment management and engaging in international agreements in terms of green production. Furthermore, government should regulate each stage of production in value chain toward green production, especially for Asia countries.

Keywords: CO₂ emission, environment, global value chain participation, methane emission

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Authors: Muhammed Unais

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The holy Quran is a pure Arabic book completely ensured the absence of non Arabic term. If it was revealed in a multilingual way including various foreign languages besides the Arabic, it can be easily misunderstood that the Arabs became helpless to compile such a work positively responding to the challenge of Allah due to their lack of knowledge in other languages in which the Quran is compiled. As based on the presence of some non Arabic terms in Quran like Istabrq, Saradiq, Rabbaniyyoon, etc. some oriental scholars argued that the holy Quran is not a book revealed in Arabic. We can see some Muslim scholars who either support or deny the presence of foreign terms in Quran but all of them agree that the roots of these words suspected as non Arabic are from foreign languages and are assimilated to the Arabic and using as same in that foreign language. After this linguistic assimilation was occurred and the assimilated non Arabic words became familiar among the Arabs, the Quran revealed as using these words in such a way stating that all words it contains are Arabic either pure or assimilated. Hence the two of opinions around the authenticity and reliability of etymology of these words are right. Those who argue the presence of foreign words he is right by the way of the roots of that words are from foreign and those who argue its absence he is right for that are assimilated and changed as the pure Arabic. The possibility of multilingualism in a monolingual book is logically negative but its significance is being changed according to time and place. The problem of multilingualism in Quran is the misconception raised by some oriental scholars that the Arabs became helpless to compile a book equal to Quran not because of their weakness in Arabic but because the Quran is revealed in languages they are ignorant on them. Really, the Quran was revealed in pure Arabic, the most literate language of the Arabs, and the whole words and its meaning were familiar among them. If one become positively aware of the linguistic and cultural assimilation ever found in whole civilizations and cultural sets he will have not any question in this respect. In this paper the researcher intends to shed light on the possibility of multilingualism in a monolingual book and debates among scholars in this issue, foreign terms in Quran and the logical justifications along with the exclusive features of Quran.

Keywords: Quran, foreign Terms, multilingualism, language

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Authors: Nahıd Naderı Anarı, Mojdeh Shafıee

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Languaging has been identified as a contributor to language learning. Compared to oral languaging, written languaging seems to have been less explored. In order to fill this gap, this paper examined the effect of ‘metanotes’, namely metatalk in a written modality to identify whether written languaging actually facilitates language learning. Participants were instructed to take metanotes as they performed a translation task. The effect of metanotes was then analyzed by comparing the results of these participants’ pretest and posttest with those of participants who performed the same task without taking metanotes. The statistical tests showed no evidence of the expected role of metanotes in foreign language learning.

Keywords: EFL learners, foreign language learning, language teaching, metanotes

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Authors: Marina Galakhova

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Nowadays, language variants, as well as minority languages and cultures, are of increased interest, and the desire to protect them is rising. The Maori language is defined as a vulnerable language by UNESCO. Its usage is confined to intra-family communication. It is not being utilized by the younger generation or being taught at an early age; therefore, it is being replaced by more frequently used languages. Maori loanwords are a unique part of New Zealand English. That is why it is worth our attention. The aim of this study is to investigate Maori cultural loanwords in the New Zealand media. Methods of analysis of lexical units, etymological interpretation, and linguocultural commenting were used. The results of the research show that Maori borrowings are used in the media, not only with regard to Maori people but also to the whole nation. The Maori language is often used in media texts, most often without a translation in English. Not only are words borrowed, but also cultural concepts. The language usage is limited to the following spheres: everyday life, education, religion, and media. The conclusion can also be drawn that Maori words are used to emphasize a new bicultural national identity; the revival of the Maori language and culture contributed to a large number of borrowings into New Zealand English. It has been established that the Maori language is substratum because Maori provides an intrusive language, which is English with language material. It is stated that the number of borrowings denoting Maori culture is very significant. This group is even greater than the group relating to flora and fauna. Language policy in New Zealand is designed to protect and promote the Maori language and culture. Tables of Maori loanwords are also presented.

Keywords: loanwords, Maori, minority languages, New Zealand

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Authors: Bilge Afşar, Zeynep Karaçor, Burcu Guvenek

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The aim of this study is to examine and analyze the effect of macroeconomic policies on foreign trade. In the study, the effect of the macroeconomic policies applied in Turkey after 2001 on foreign trade was scrutinized carrying out a survey study in the sample of the province Konya. In the survey study, the survey was administered to a total of 209 exporter firms, which are the members of Konya Chamber of Commerce. While 51 of the firms, to which the survey was administered, exported below $ 100,000, 158 of them are the firms exporting above $ 100,000. Survey was realized in the way of face to face interview with the firms in the rate of 79%. 47% of the institutions forming the mass were reached. In forming survey questionnaire, in general, 5-point Likert scale was used. In order to assess the study results, SPSS 15 package program was utilized. In the survey, foreign trade activities of the firms in Konya were analyzed; and the problems they face, while performing foreign trade, and those needing to be carried out for increasing foreign trade volume of Konya were revealed by determining how and at what degree they were affected from the macroeconomic policies applied. Thus, foreign trade structure and state of the province Konya were attempted to be analyzed. In the survey study, it emerges that although the problems Konya faces in foreign trade overlap with the problems across Turkey, the province Konya seems to be affected relatively less from the last crisis with its equity capital in either trade or other areas. Until the year 2008, while Konya is in a position of the province continuously increasing its export, also with the effect of global crisis, in 2009, a fall was seen in the amount of export. The results emerging in the survey study also confirm this case. In parallel with demand inadequacy and recession all over the world, firms experience trouble. However, again according to our survey result, foreign market weight of firms shifted from EU countries to Russia, East Bloc, and Middle East countries. This prevented Konya from negative affecting from EU crisis at maximum level. That is, Russian and Middle East market express significance for Konya. That market is diversified, and being relatively rid of dependence to EU is extremely important in terms of Konya export.

Keywords: economy, foreign trade, economic crise, macro economic politicies

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Authors: Esha Banerji

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This paper attempts an assessment of India's behaviour as a foreign policy actor amidst the COVID 19 pandemic by briefly surveying the various introductions and alterations made to India's foreign policy. First, the paper attempts to establish the key strategic pillars of Indian foreign policy after reviewing the existing works. It then proceeds to assess the prominent part played by Health Diplomacy ("Vaccine Maitri") in India's bilateral and multilateral relations during the pandemic and the role of the Indian diaspora in shaping India's foreign policy. This is followed by examining "India's Neighbourhood First policy" and the way it's been employed by the Indian government to extend India’s strategic influence during the pandemic. An empirical assessment will be done to examine the changing dynamics of India's relation with different regional groupings like SAARC, ASEAN, BIMSTEC, etc. The paper also explores the new alliances formed post-pandemic and India's role in them. This paper analyses the contemporary challenges that the largest nation in South Asia faces with the onset of a global pandemic and how Ancient Indian values like "Vasudhaiva Kutumbakam" have influenced India's foreign policy, especially during the pandemic. It also attempts to grasp the changes within the negotiation style of the Indian government, and the role played by various stakeholders in shaping India's position in the present geopolitical landscape. The study has been conducted using data collected from government records, External Affairs Ministry database, and other available literature. The paper concludes with an attempt to predict the far-reaching strategic implications that the policy, as mentioned above, may have for India.

Keywords: Indian foreign policy, COVID19, diplomacy, post pandemic world

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Authors: Konysbek Aksaule

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The purpose of this work is to explore new and effective ways of teaching English to students who are studying a foreign language since the timeliness of the problem disclosed in this article is due to the high level of English proficiency that potential specialists must have due to high competition in the context of global globalization. The article presents an analysis of the feasibility and effectiveness of using an authentic feature film in teaching English to students. The methodological basis of the study includes an assessment of the level of students' proficiency in a foreign language, the stage of evaluating the film, and the method of selecting the film for certain categories of students. The study also contains a list of practical tasks that can be applied in the process of viewing and perception of an original feature film in a foreign language, and which are aimed at developing language skills such as speaking and listening. The results of this study proved that teaching English to students through watching an original film is one of the most effective methods because it improves speech perception, speech reproduction ability, and also expands the vocabulary of students and makes their speech fluent. In addition, learning English through watching foreign films has a huge impact on the cultural views and knowledge of students about the country of the language being studied and the world in general. Thus, this study demonstrates the high potential of using authentic feature film in English lessons for pedagogical science and methods of teaching English in general.

Keywords: university, education, students, foreign language, feature film

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Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

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The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

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Authors: Hasan Alrashid

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The 2005 Hague Convention seeks to ensure legal certainty and predictability between parties in international business transactions. It harmonies exclusive choice of court agreements at the international level between parties to commercial transactions and to govern the recognition and enforcement of judgments resulting from proceedings based on such agreements to promote international trade and investment. Although the choice of court agreements is significant in international business transactions, the United Arab Emirates refuse to recognise it by Article 24 of the Federal Law No. 11 of 1992 of the Civil Procedure Code. A review of judicial judgments in United Arab Emirates up to the present day has revealed that several cases appeared before the Court in different states of United Arab Emirates regarding the recognition of exclusive choice of court agreements. In all the cases, the courts regarded the exclusive choice of court agreements as a direct assault on state authority and sovereignty and refused categorically to recognize choice of court agreements by refusing to stay proceedings in favor of the foreign chosen court. This has created uncertainty and unpredictability in international business transaction in the United Arab Emirates. In June 2011, the first Gulf Judicial Seminar on Cross-Frontier Legal Cooperation in Civil and Commercial Matters was held in Doha, Qatar. The Permanent Bureau of the Hague Conference attended the conference and invited the states of the Gulf Cooperation Council (GCC) namely, The United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait to adopt some of the Hague Conventions, one of which was the Hague Convention on Choice of Court Agreements. One of the recommendations of the conference was that the GCC states should research ‘the benefits of predictability and legal certainty provided by the 2005 Convention on Choice of Court Agreements and its resulting advantages for cross-border trade and investment’ for possible adoption of the Hague Convention. Up to today, no further step has been taken by the any of the GCC states to adapt the Hague Convention nor did they conduct research on the benefits of predictability and legal certainty in international business transactions. This paper will argue that the approach regarding the recognition of choice of court agreements in United Arab Emirates states can be improved in order to help the parties in international business transactions avoid parallel litigation and ensure legal certainty and predictability. The focus will be the uncertainty and gaps regarding the choice of court agreements in the United Arab Emirates states. The Hague Convention on choice of court agreements and the importance of harmonisation of the rules of choice of court agreements at international level will also be discussed. Finally, The feasibility and desirability of recognizing choice of court agreements in United Arab Emirates legal system by becoming a party to the Hague Convention will be evaluated.

Keywords: choice of court agreements, party autonomy, public authority, sovereignty

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Authors: York Neudel

Abstract:

The phenomenon of tourism has been considered as tool to overcome cultural frontiers, to comprehend the other and to cope with mutual mistrust and suspicion. Well, that has been a myth, at least when it comes to mass-tourism. Other approaches, like community-based tourism, still are based on the idea of embracing the other in order to help or to understand the cultural difference. In 1997, two American NGOs incentivized a tourism-project in a community in the highlands of Ecuador, in order to protect the cloud forest from destructive exploitation of its own inhabitants. Nineteen years after that, I analyze in this investigation the interactions between the Ecuadorian hosts in the mestizo-community of Yunguilla and the foreign tourist in the quest for “authentic life” in the Ecuadorian cloud forest. As a sort of “contemporary pilgrim” the traveller tries to find authenticity in other times and places far away from their everyday life in Europe or North America. Therefore, tourists are guided by stereotypes and expectations that are produced by the touristic industry. The host, on the other hand, has to negotiate this pre-established imaginary. That generates a kind of theatre-play with front- and backstage in organic gardens, little fabrics and even private housing, since this alternative project offers to share the private space of the host with the tourist in the setting the community-based tourism. In order to protect their privacy, the community creates new hybrid spaces that oscillate between front- and backstages that culminates in a game of hide and seek – a phenomenon that promises interesting frictions for an anthropological case-study.

Keywords: Tourism, Authenticity, Community-based tourism, Ecuador, Yunguilla

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Authors: Rendong Cai, Bei Peng, Yanping Dong

Abstract:

In risk decision making, individuals are found to be susceptible to 'frames': people tend to be risk averse when the choice is described in terms of potential 'gains' (gain frame), whereas they tend to be risk seeking when the same choice is described in terms of potential 'losses' (loss frame); this effect is termed the framing effect. The framing effect has been well documented and some studies even find a developmental reversal in the framing effect: The more experience an individual has in a certain field, the easier for him to be influenced by the frame relevant to the field, resulting in greater decision inconsistency. Recent studies reported that using a foreign language can reduce the framing effect. However, it is not clear whether foreign language use can overcome the developmental reversal in the framing effect. The present study investigated three potential factors that may influence the developmental reversal in the framing effect: specialized knowledge of the participants, the language in which the problem is presented, and the types of problems. The present study examined the decision making behavior of 188 Chinese-English bilinguals who majored in Finance, with a group of 277 English majors as the control group. They were asked to solve a financial problem (experimental condition) and a life problem (control condition). Each problem was presented in one of the following four versions: native language-gain frame, foreign language-gain frame, native language-loss frame, and foreign language-loss frame. Results revealed that for the life problem, under the native condition, both groups were affected by the frame; but under the foreign condition, this framing effect disappeared for the financial majors. This confirmed that foreign language use modulates framing effects in general decision making, which served as an effective baseline. For the financial problem, under the native condition, only the financial major was observed to be influenced by the frame, which was a developmental reversal; under the foreign condition, however, this framing effect disappeared. The results provide further empirical evidence for the universal of the developmental reversal in risky decision making. More importantly, the results suggest that using a foreign language can overcome such reversal, which has implications for the reduction of decision biases in professionals. The findings also shed new light on the complex interaction between general decision-making and bilingualism.

Keywords: the foreign language effect, developmental reversals, the framing effect, bilingualism

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Authors: Jagna Mucha, Anna Kańciak

Abstract:

The concept of good governance constitutes a wide perspective for academic discussion, because it provides a substantial theoretical background for settling many practical problems faced contemporarily by the EU. The basic assumptions of good governance have basically remained unchanged since the 90’s, when the concept was introduced by the World Bank, although the scholarly discussions reveal new facets of the said concept, when related to specific domains. The paper discusses the application of the specific elements of the concept of good governance in the field of the international investment law. Specifically, it seeks to demonstrate that the concept of good governance regulates the issue of international investments in that, among others, it requires the application of the alternative dispute resolution in order to make the investment law enforceable in the best possible way.

Keywords: dispute resolution, european union, investments, good governance

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Authors: Ukhtie Nantika Mena, Ahmad Juntika Nurihsan, Ilfiandra

Abstract:

This study aims to explore perspective on Foreign Language Classroom Anxiety (FLCA) of an international student. Descriptive narrative is used to discover written and spoken responses from the student. An online survey was employed as a secondary data to identify the level of FLCA among six UPI international students. A student with the highest score volunteered to be interviewed. Several symptoms were found; lack of concentration, excessive worry, fear, unwanted thoughts, and sweating. The results showed that difficulties to understand lecturers' correction, presentation, and fear of getting left behind are three major causes of his anxiety.

Keywords: foreign language classroom anxiety, FLCA, international students, language anxiety

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Authors: Shuaibu Umar Abdul

Abstract:

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

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

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Authors: Shaden S. Attia

Abstract:

This study investigated foreign language anxiety (FLA) and teachers’ awareness of its presence in the Egyptian ESL classrooms and how FLA correlates with different variables such as four language skills, students' sex, and activities used in class. A combination of quantitative and qualitative instruments was used in order to investigate the previously mentioned variables, which included five interviews with teachers, six classroom observations, a survey for teachers, and a questionnaire for students. The findings of the study revealed that some teachers were aware of the presence of FLA, with some of them believing that other teachers, however, are not aware of this phenomenon, and even when they notice anxiety, they do not always relate it to learning a foreign language. The results also showed that FLA was affected by students’ sex, different language skills, and affective anxieties; however, teachers were unaware of the effect of these variables. The results demonstrated that both teachers and students preferred group and pair work to individual activities as they were more relaxing and less anxiety-provoking. These findings contribute to raising teachers' awareness of FLA in ESL classrooms and how it is affected by different variables.

Keywords: foreign language anxiety, situation specific anxiety, skill-specific anxiety, teachers’ perceptions

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Authors: Lucian Vasile Bagiu, Paraschiva Bagiu

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The study is a contrastive essay on language acquisition and learning and follows the outcomes of teaching Romanian language to foreign students both at Lund University, Sweden (from 2014 to 2017) and at '1 Decembrie 1918' University in Alba Iulia, Romania (2017-2018). Having employed the same teaching methodology (on campus, same curricula) for the same level of study (beginners’ level: A1-A2), the essay focuses on the written exam at the end of the semester. The study argues on grammar exercises concerned with: the indefinite and the definite article; the conjugation of verbs in the present indicative; the possessive; verbs in the past tense; the subjunctive; the degrees of comparison for adjectives. Identifying similar errors when solving identical grammar exercises by different groups of foreign students is an opportunity to emphasize the major challenges any foreigner has to face and overcome when trying to acquire Romanian language. The conclusion draws attention to the complexity of the morphology of Romanian language in several key elements which may be insurmountable for a foreign speaker no matter if the language acquisition takes place in a foreign country or a Romanian university.

Keywords: Arab students, morphological errors, Romanian language, Swedish students, written exam

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Authors: Eliane Cristina De Carvalho Mendoza Meza

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The Brazilian Federal Constitution from 1988 innovated with decentralized management, sharing the decision process among the federal government, states, and municipality (federalism). This innovation gave the opportunity to the civil society participates in the public policy agenda, including the municipal one; the state recognized that new actors were needed now it has been one more actor and not the only one. It was in this context that the woman’s Policy Secretaries were created in the three levels of government: federal, state and municipal. It intend to reduce the historical and social differences between men and women, especially in the poorest municipalities, working in a network basis with other secretaries, governmental institutions and non-governmental organizations to promote actions that can result in benefits and empowerment for women. In addition, they promote actions to protect them from domestic violence and to help them to learn how generate income. It was not a calm process, women have been fighting for their rights since the 1970s and despite the gender equality was recognized in the Federal Constitution of 1988, just in 2013 it was possible to see a real growth in the creation of municipal Women’s Policy Secretary. In 2009, just 6.5% of the cities in Brazil had implemented the Secretary; in 2013, it was 11%. The municipality realized that the gender issue was in reality a public problem, so the municipal agenda incorporated it and transformed in public policy, creating the municipal Women’s Policy Secretary. The introduction of a gender policy in Brazilian municipalities shows us that the female citizens are treated as political subjects and it is the first step to try to compensate inequality between men and women in the local level. It becomes more important when the Brazilian federalism is analyzed. In Brazil, the federal government controls the municipalities’ budgets to implement federal public policies and others federal interests, so having a public policy of gender approved by the actors in the local government with so little freedom to manage is something very important. It is necessary mark some points: taking a gender policy to the poorest cities is a form to protect all citizens with no distinction, men and women, as recommended in the Federal Constitution; not all problems in a city center in the municipal agenda, this only happens when a problem is perceived as an issue, it means the women situation was perceived as important, so that it became a public policy; at least, the gender public policy intend to emancipate and contemplate the empowerment of women.

Keywords: federalism, gender, municipal agenda, social participation

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Authors: Edward C. W. Chan, Benny C. F. Cheung

Abstract:

In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilisation efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.

Keywords: intellectual capital, intellectual capital measurement, property development, property investment, Skandia navigator, VAIC

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