Search results for: proxy

Authors: Usman A. Usman

Abstract:

Undeniably, unlike the Classical side, the Keynesian perspective of the aggregate demand side indeed has a significant position in the policy, growth, and welfare of Nigeria due to government involvement and ineffective demand of the population living with poor per capita income. This study seeks to investigate the effect of Government Final Consumption Expenditure, Financial Deepening on Households, and NPISHs Final consumption expenditure using data on Nigeria from 1981 to 2019. This study employed the ADF stationarity test, Johansen Cointegration test, and Vector Error Correction Model. The results of the study revealed that the coefficient of Government final consumption expenditure has a positive effect on household consumption expenditure in the long run. There is a long-run and short-run relationship between gross fixed capital formation and household consumption expenditure. The coefficients cpsgdp (financial deepening and gross fixed capital formation posit a negative impact on household final consumption expenditure. The coefficients money supply lm2gdp, which is another proxy for financial deepening, and the coefficient FDI have a positive effect on household final consumption expenditure in the long run. Therefore, this study recommends that Gross fixed capital formation stimulates household consumption expenditure; a legal framework to support investment is a panacea to increasing hoodmold income and consumption and reducing poverty in Nigeria. Therefore, this should be a key central component of policy.

Keywords: government final consumption expenditure, household consumption expenditure, vector error correction model, cointegration

Procedia PDF Downloads 21

Authors: Wafa Ghonaim

Abstract:

Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

Procedia PDF Downloads 288

Authors: Soebowo Musa

Abstract:

Mining industries are known to be very volatile due to their sensitive nature toward changes in the environment, particularly coal mining. Heavy equipment distributors and coal mining contractors are among heavily affected by such volatility. They are facing more uncertainty on the sustainability of the coal mining industry. Strategic alliances and organizational capabilities such as innovation capability have long been seen as ways to stay competitive with a focus more on the strategic alliances partner-to-partner in serving their customers. In today’s rapid change in the environment, a shift in consumer behaviors, and the human-centric business approach, this study looks at the strategic alliance partner-to-customer relationship in both the industrial organization and resource-based theories. This study was conducted based on 250 respondents from the strategic alliances partner-to-customer between heavy equipment distributors and coal mining contractors in Indonesia. This study finds strategic alliances have the highest association toward cost reduction, a proxy of operational efficiency followed by its association toward innovation capability. Further, strategic alliances and innovation capability have a positive relationship with customer loyalty, while innovation capability and customer loyalty have no significant relationships toward the firm’s competitive advantage. This study also indicates that cost reduction is not a condition to develop customer loyalty in the strategic alliance partner-to-customer relationship. It confirms strategic alliances are a strategy that creates a firm’s operational efficiency, innovation capability that develops customer loyalty, and competitive advantage.

Keywords: strategic alliance, innovation capability, cost reduction, customer loyalty, competitive advantage

Procedia PDF Downloads 88

Authors: Usman A. Usman

Abstract:

Undeniably, unlike the Classical side, the Keynesian perspective of the aggregate demand side indeed has a significant position in the policy, growth, and welfare of Nigeria due to government involvement and ineffective demand of the population living with poor per capita income. This study seeks to investigate the effect of Government Final Consumption Expenditure, Financial Deepening on Households, and NPISHs Final consumption expenditure using data on Nigeria from 1981 to 2019. This study employed the ADF stationarity test, Johansen Cointegration test, and Vector Error Correction Model. The results of the study revealed that the coefficient of Government final consumption expenditure has a positive effect on household consumption expenditure in the long run. There is a long-run and short-run relationship between gross fixed capital formation and household consumption expenditure. The coefficients cpsgdp financial deepening and gross fixed capital formation posit a negative impact on household final consumption expenditure. The coefficients money supply lm2gdp, which is another proxy for financial deepening, and the coefficient FDI have a positive effect on household final consumption expenditure in the long run. Therefore, this study recommends that Gross fixed capital formation stimulates household consumption expenditure; a legal framework to support investment is a panacea to increasing hoodmold income and consumption and reducing poverty in Nigeria. Therefore, this should be a key central component of policy.

Keywords: household, government expenditures, vector error correction model, johansen test

Procedia PDF Downloads 26

Authors: Javed Mallick

Abstract:

In metropolitan areas, rapid changes in land use and land cover (LULC) have ecological and environmental consequences. Saudi Arabia's cities have experienced tremendous urban growth since the 1990s, resulting in urban heat islands, groundwater depletion, air pollution, loss of ecosystem services, and so on. From 1990 to 2020, this study examines the variance and heterogeneity in land surface temperature (LST) caused by LULC changes in Abha-Khamis Mushyet, Saudi Arabia. LULC was mapped using the support vector machine (SVM). The mono-window algorithm was used to calculate the land surface temperature (LST). To identify LST clusters, the local indicator of spatial associations (LISA) model was applied to spatiotemporal LST maps. In addition, the parallel coordinate (PCP) method was used to investigate the relationship between LST clusters and urban biophysical variables as a proxy for LULC. According to LULC maps, urban areas increased by more than 330% between 1990 and 2018. Between 1990 and 2018, built-up areas had an 83.6% transitional probability. Furthermore, between 1990 and 2020, vegetation and agricultural land were converted into built-up areas at a rate of 17.9% and 21.8%, respectively. Uneven LULC changes in built-up areas result in more LST hotspots. LST hotspots were associated with high NDBI but not NDWI or NDVI. This study could assist policymakers in developing mitigation strategies for urban heat islands

Keywords: land use land cover mapping, land surface temperature, support vector machine, LISA model, parallel coordinate plot

Procedia PDF Downloads 46

Authors: Jaballah Jamil

Abstract:

KLD (Peter Kinder, Steve Lydenberg and Amy Domini) research & analytics is an independent intermediary of social performance information that adopts an investor-pay model. KLD rating agency does not have an explicit monitoring on the rated firm which suggests that KLD ratings may not include private informations. Moreover, the incapacity of KLD to predict accurately the extra-financial rating of Enron casts doubt on the reliability of KLD ratings. Therefore, we first investigate whether KLD ratings affect investors' perception by studying the effect of KLD rating changes on firms' financial performances. Second, we study the impact of the Enron scandal on investors' perception of KLD rating changes by comparing the effect of KLD rating changes on firms' financial performances before and after the failure of Enron. We propose an empirical study that relates a number of equally-weighted portfolios returns, excess stock returns and book-to-market ratio to different dimensions of KLD social responsibility ratings. We first find that over the last two decades KLD rating changes influence significantly and negatively stock returns and book-to-market ratio of rated firms. This finding suggests that a raise in corporate social responsibility rating lowers the firm's risk. Second, to assess the Enron scandal's effect on the perception of KLD ratings, we compare the effect of KLD rating changes before and after the Enron scandal. We find that after the Enron scandal this significant effect disappears. This finding supports the view that the Enron scandal annihilates the KLD's effect on Socially Responsible Investors. Therefore, our findings may question results of recent studies that use KLD ratings as a proxy for Corporate Social Responsibility behavior.

Keywords: KLD social rating agency, investors' perception, investment decision, financial performance

Procedia PDF Downloads 411

Authors: Mukesh Khadka, Alexander Paz, Hanns de la Fuente-Mella

Abstract:

Typically, pavement performance models are developed in two steps: (i) pavement segments with similar characteristics are grouped together to form a cluster, and (ii) the corresponding performance models are developed using statistical techniques. A challenge is to select the characteristics that define clusters and the segments associated with them. If inappropriate characteristics are used, clusters may include homogeneous segments with different performance behavior or heterogeneous segments with similar performance behavior. Prediction accuracy of performance models can be improved by grouping the pavement segments into more uniform clusters by including both characteristics and a performance measure. This grouping is not always possible due to limited information. It is impractical to include all the potential significant factors because some of them are potentially unobserved or difficult to measure. Historical performance of pavement segments could be used as a proxy to incorporate the effect of the missing potential significant factors in clustering process. The current state-of-the-art proposes Clusterwise Linear Regression (CLR) to determine the pavement clusters and the associated performance models simultaneously. CLR incorporates the effect of significant factors as well as a performance measure. In this study, a mathematical program was formulated for CLR models including multiple explanatory variables. Pavement data collected recently over the entire state of Nevada were used. International Roughness Index (IRI) was used as a pavement performance measure because it serves as a unified standard that is widely accepted for evaluating pavement performance, especially in terms of riding quality. Results illustrate the advantage of the using CLR. Previous studies have used CLR along with experimental data. This study uses actual field data collected across a variety of environmental, traffic, design, and construction and maintenance conditions.

Keywords: clusterwise regression, pavement management system, performance model, optimization

Procedia PDF Downloads 227

Authors: Maria Anjelica P. Ancheta, Roberto S. Soriano, Erickson L. Llaguno

Abstract:

The main purpose of this study is to examine whether there is a significant relationship between socio-economic class and household water supply demand, through determining or verifying the factors governing water use consumption patterns of households from a sampling from different socio-economic classes in Metro Manila, the national capital region of the Philippines. This study is also an opportunity to augment the lack of local academic literature due to the very few publications on urban household water demand after 1999. In over 600 Metro Manila households, a rapid survey was conducted on their average monthly water consumption and habits on household water usage. The questions in the rapid survey were based on an extensive review of literature on urban household water demand. Sample households were divided into socio-economic classes A-B and C-D. Cluster analysis, dummy coding and outlier tests were done to prepare the data for regression analysis. Subsequently, backward stepwise regression analysis was used in order to determine different statistical models to describe the determinants of water consumption. The key finding of this study is that the socio-economic class of a household in Metro Manila is a significant factor in water consumption. A-B households consume more water in contrast to C-D families based on the mean average water consumption for A-B and C-D households are 36.75 m3 and 18.92 m3, respectively. The most significant proxy factors of socio-economic class that were related to household water consumption were examined in order to suggest improvements in policy formulation and household water demand management.

Keywords: household water uses, socio-economic classes, urban planning, urban water demand management

Procedia PDF Downloads 265

Authors: Nurin Amalina Widityani, Adinda Syifa Azhari, Twin Aji Kusumagiani, Eleonora Agustine

Abstract:

Fertilizer industry activities contribute to environmental changes. Changes to the environment became one of a few problems in this era of globalization. Parameters that can be seen as criteria to identify changes in the environment can be seen from the aspects of physics, chemistry, and biology. One aspect that can be assessed quickly and efficiently to describe environmental change is the aspect of physics, one of which is the value of magnetic susceptibility (χ). The rock magnetism method can be used as a proxy indicator of environmental changes, seen from the value of magnetic susceptibility. The rock magnetism method is based on magnetic susceptibility studies to measure and classify the degree of pollutant elements that cause changes in the environment. This research was conducted in the area around the fertilizer plant, with five coring points on each track, each coring point a depth of 15 cm. Magnetic susceptibility measurements were performed by in-situ and ex-situ. In-situ measurements were carried out directly by using the SM30 tool by putting the tools on the soil surface at each measurement point and by that obtaining the value of the magnetic susceptibility. Meanwhile, ex-situ measurements are performed in the laboratory by using the Bartington MS2B tool’s susceptibility, which is done on a coring sample which is taken every 5 cm. In-situ measurement shows results that the value of magnetic susceptibility at the surface varies, with the lowest score on the second and fifth points with the -0.81 value and the highest value at the third point, with the score of 0,345. Ex-situ measurements can find out the variations of magnetic susceptibility values at each depth point of coring. At a depth of 0-5 cm, the value of the highest XLF = 494.8 (x10-8m³/kg) is at the third point, while the value of the lowest XLF = 187.1 (x10-8m³/kg) at first. At a depth of 6-10 cm, the highest value of the XLF was at the second point, which was 832.7 (x10-8m³/kg) while the lowest XLF is at the first point, at 211 (x10-8m³/kg). At a depth of 11-15 cm, the XLF’s highest value = 857.7 (x10-8m³/kg) is at the second point, whereas the value of the lowest XLF = 83.3 (x10-8m³/kg) is at the fifth point. Based on the in situ and exsit measurements, it can be seen that the highest magnetic susceptibility values from the surface samples are at the third point.

Keywords: magnetic susceptibility, fertilizer plant, Bartington MS2B, SM30

Procedia PDF Downloads 315

Authors: Ryan Brisbin, Hassan Harb, Justin Debow, Hrant Hratchian, Ryan Baxter

Abstract:

Donor-Acceptor (DA) frameworks are crucial parts of any technology requiring charge transport. This type of behavior is ubiquitous across technologies from semi conductors to solar panels. Currently, most DA systems involve metallic components, but progressive research is being pursued to design fully organic DA systems to be used as both organic semi-conductors and light emitting diodes. These systems are currently comprised of conductive polymers and salts. However, little is known about the effect of various physical aspects (size, torsional angle, electron density) have on the act of reversible charge transfer. Herein, the effect of torsional angle on reductive stability in bis(imino)pyridines is analyzed using a combination of single crystal analysis and electro-chemical peak current ratios from cyclic voltammetry. The computed free energies of reduction and electron attachment points were also investigated through density functional theory and natural ionization orbital theory to gain greater understanding of the global effect torsional angles have on electron transfer in bis(imino)pyridines. Findings indicated that torsional angles are a multi-variable parameter affected by both local steric constraints and resonant electronic contributions. Local steric impacted torsional angles demonstrated a negligible effect on electrochemical reversibility, while resonant affected torsional angles were observed to significantly alter the electrochemical reversibility.

Keywords: cyclic voltammetry, bis(imino)pyridines, structure-activity relationship, torsional angles

Procedia PDF Downloads 204

Authors: Halima Kilungu, Pantaleo, K. T. Munishi

Abstract:

Climate and land-cover change affect nature-based tourism (NBT) due to its attractions' close connection to natural environments and climate. Thus, knowledge of how each attraction reacts to the changing environments and devising simple yet science based approaches to respond to these changes from a tourism perspective in space and time is timely. Nevertheless, no specific approaches exist to address the knowledge gap. The eco-parcel approach is devised to address the gap and operationalized in Serengeti and Kilimanjaro National Parks: the most climate-sensitive NBT destinations in Africa. The approach is partly descriptive and has three simple steps: (1) to identify and define tourist attractions (i.e. biotic and abiotic attractions). This creates an important database of the most poorly kept information on attractions' types in NBT destinations. (2) To create a spatial and temporal link of each attraction and describe its characteristic environments (e.g. vegetation, soil, water and rock outcrops). This is the most limited attractions' information yet important as a proxy of changes in attractions. (3) To assess the importance of individual attractions for tourism based on tourists' preferences. This information enables an accurate assessment of the value of individual attractions for tourism. The importance of the eco-parcel approach is that it describes how each attraction emerges from and is connected to specific environments, which define its attractiveness in space and time. This information allows accurate assessment of the likely losses or gains of individual attractions when climate or environment changes in specific destinations and equips tourism stakeholders with informed responses.

Keywords: climate change, environmental change, nature-based tourism, Serengeti National Park, Kilimanjaro National Park

Procedia PDF Downloads 96

Authors: Thelma Mort

Abstract:

This empirical, qualitative research uses interviews of four intermediate phase English language student teachers at one university in South Africa and is an exploration of student teacher learning on their teaching practicum in their penultimate year of the initial teacher education course. The country’s post-apartheid language in education policy provides a context to this study in that children move from mother tongue language of instruction in foundation phase to English as a language of instruction in Intermediate phase. There is another layer of context informing this study which is the school context; the student teachers’ reflections are from their teaching practicum in resource constrained schools, which make up more than 75% of schools in South Africa. The findings were that in these schools, deep biases existed to local languages, that language was being used as a proxy for social class, and that conditions necessary for language acquisition were absent. The student teachers’ attitudes were in contrast to those found in the schools, namely that they had various pragmatic approaches to overcoming obstacles and that they saw language as enabling interdisciplinary work. This study describes language issues, tensions created by policy in South African schools and also supplies a regional account of learning to teach in resource constrained schools in Cape Town, where such language tensions are more inflated. The central findings in this research illuminate attitudes to language and language education in these teaching practicum schools and the complexity of learning to be a language teacher in these contexts. This study is one of the few local empirical studies regarding language teaching in the classroom and language teacher education; as such it offers some background to the country’s poor performance in both international and national literacy assessments.

Keywords: language teaching, narrative, post apartheid, South Africa, student teacher

Procedia PDF Downloads 125

Authors: Syed Toqueer Akhter, Rabia Zulfiqar

Abstract:

This paper attempts to trace the determining factor- as far as individual preferences and expectations are concerned- of what causes the direction of international migration to drift in certain ways owing to factors such as Religiosity and Cultural Assimilation. The narrative on migration has graduated from the age long ‘push/pull’ debate to that of complex factors that may vary across each individual. We explore the longstanding factor of religiosity widely acknowledged in mentioned literature as a key variable in the assessment of migration, wherein the impact of religiosity in the form of a drift into the intent of migration has been analyzed. A more conventional factor cultural assimilation is used in a contemporary way to estimate how it plays a role in affecting the drift in direction. In particular what our research aims at achieving is to isolate the effect our key variables: Cultural Assimilation and Religiosity have on direction of migration, and to explore how they interplay as a composite unit- and how we may be able to justify the change in behavior displayed by these key variables. In order to establish a true sense of what drives individual choices we employ the method of survey research and use a questionnaire to conduct primary research. The questionnaire was divided into six sections covering subjects including household characteristics, perceptions and inclinations of the respondents relevant to our study. Religiosity was quantified using a proxy of Migration Network that utilized secondary data to estimate religious hubs in recipient countries. To estimate the relationship between Intent of Migration and its variants three competing econometric models namely: the Ordered Probit Model, the Ordered Logit Model and the Tobit Model were employed. For every model that included our key variables, a highly significant relationship with the intent of migration was estimated.

Keywords: international migration, drift in direction, cultural assimilation, religiosity, ordered probit model

Procedia PDF Downloads 282

Authors: Hsiao-Tien Pao, Yi-Ying Li, Hsin-Chia Fu

Abstract:

This paper addressed the impacts of energy consumption, economic growth, financial development, and population size on environmental degradation using grey relational analysis (GRA) for China, where foreign direct investment (FDI) inflows is the proxy variable for financial development. The more recent historical data during the period 2004–2011 are used, because the use of very old data for data analysis may not be suitable for rapidly developing countries. The results of the GRA indicate that the linkage effects of energy consumption–emissions and GDP–emissions are ranked first and second, respectively. These reveal that energy consumption and economic growth are strongly correlated with emissions. Higher economic growth requires more energy consumption and increasing environmental pollution. Likewise, more efficient energy use needs a higher level of economic development. Therefore, policies to improve energy efficiency and create a low-carbon economy can reduce emissions without hurting economic growth. The finding of FDI–emissions linkage is ranked third. This indicates that China do not apply weak environmental regulations to attract inward FDI. Furthermore, China’s government in attracting inward FDI should strengthen environmental policy. The finding of population–emissions linkage effect is ranked fourth, implying that population size does not directly affect CO₂ emissions, even though China has the world’s largest population, and Chinese people are very economical use of energy-related products. Overall, the energy conservation, improving efficiency, managing demand, and financial development, which aim at curtailing waste of energy, reducing both energy consumption and emissions, and without loss of the country’s competitiveness, can be adopted for developing economies. The GRA is one of the best way to use a lower data to build a dynamic analysis model.

Keywords: China, CO₂ emissions, foreign direct investment, grey relational analysis

Procedia PDF Downloads 370

Authors: A. R. Diniz, P. Borrego, I. Bártolo, N. Taveira

Abstract:

Cell-to-cell transmission plays a critical role in the spread of HIV-1 infection in vitro and in vivo. Inhibition of HIV-1 cell-associated infection by antiretroviral drugs and neutralizing antibodies (NAbs) is more difficult compared to cell-free infection. Limited data exists on cell-associated infection by HIV-2 and its inhibition. In this work, we determined the ability of entry inhibitors to inhibit HIV-1 and HIV-2 cell-to cell fusion as a proxy to cell-associated infection. We developed a method in which Hela-CD4-cells are first transfected with a Tat expressing plasmid (pcDNA3.1+/Tat101) and infected with recombinant vaccinia viruses expressing either the HIV-1 (vPE16: from isolate HTLV-IIIB, clone BH8, X4 tropism) or HIV-2 (vSC50: from HIV-2SBL/ISY, R5 and X4 tropism) envelope glycoproteins (M.O.I.=1 PFU/cell).These cells are added to TZM-bl cells. When cell-to-cell fusion (syncytia) occurs the Tat protein diffuses to the TZM-bl cells activating the expression of a reporter gene (luciferase). We tested several entry inhibitors including the fusion inhibitors T1249, T20 and P3, the CCR5 antagonists MVC and TAK-779, the CXCR4 antagonist AMD3100 and several HIV-2 neutralizing antibodies (Nabs). All compounds inhibited HIV-1 and HIV-2 cell fusion albeit to different levels. Maximum percentage of HIV-2 inhibition (MPI) was higher for fusion inhibitors (T1249- 99.8%; P3- 95%, T20-90%) followed by co-receptor antagonists (MVC- 63%; TAK-779- 55%; AMD3100- 45%). NAbs from HIV-2 infected patients did not prevent cell fusion up to the tested concentration of 4μg/ml. As for HIV-1, MPI reached 100% with TAK-779 and T1249. For the other antivirals, MPIs were: P3-79%; T20-75%; AMD3100-61%; MVC-65%.These results are consistent with published data. Maraviroc had the lowest IC50 both for HIV-2 and HIV-1 (IC50 HIV-2= 0.06 μM; HIV-1=0.0076μM). Highest IC50 were observed with T20 for HIV-2 (3.86μM) and with TAK-779 for HIV-1 (12.64μM). Overall, our results show that entry inhibitors in clinical use are less effective at preventing Env mediated cell-to-cell-fusion in HIV-2 than in HIV-1 which suggests that cell-associated HIV-2 infection will be more difficult to inhibit compared to HIV-1. The method described here will be useful to screen for new HIV entry inhibitors.

Keywords: cell-to-cell fusion, entry inhibitors, HIV, NAbs, vaccinia virus

Procedia PDF Downloads 281

Authors: Mohammad Yousaf Safi Mohibullah Afghan

Abstract:

The study made on Islamic and conventional banks scrutinizes the risks interconnected with credit and liquidity on the productivity performance of Islamic and conventional banks that operate in Pakistan. Among the banks, only 4 Islamic and 18 conventional banks have been selected to enrich the result of our study on Islamic banks performance in connection to conventional banks. The selection of the banks to the panel is based on collecting quarterly unbalanced data ranges from the first quarter of 2007 to the last quarter of 2017. The data are collected from the Bank’s web sites and State Bank of Pakistan. The data collection is carried out based on Delta-method test. The mentioned test is used to find out the empirical results. In the study, while collecting data on the banks, the return on assets and return on equity have been major factors that are used assignificant proxies in determining the profitability of the banks. Moreover, another major proxy is used in measuring credit and liquidity risks, the loan loss provision to total loan and the ratio of liquid assets to total liability. Meanwhile, with consideration to the previous literature, some other variables such as bank size, bank capital, bank branches, and bank employees have been used to tentatively control the impact of those factors whose direct and indirect effects on profitability is understood. In conclusion, the study emphasizes that credit risk affects return on asset and return on equity positively, and there is no significant difference in term of credit risk between Islamic and conventional banks. Similarly, the liquidity risk has a significant impact on the bank’s profitability, though the marginal effect of liquidity risk is higher for Islamic banks than conventional banks.

Keywords: islamic & conventional banks, performance return on equity, return on assets, pakistan banking sectors, profitibility

Procedia PDF Downloads 128

Authors: Hassan Y. Kikhia, Jin P. Zhang, Khaldoon G. Albiatr

Abstract:

The Enron and Arthur Andersen scandal has raised concerns internationally about auditor independence and audit quality. Furthermore, the debate continues about the relationship between audit fees, auditor tenure and audit quality in spite of extensive empirical evidence examining audit failures and earnings management. Therefore, the purpose of current research is to determine the effect of audit fee and audit tenure both partially and simultaneously on the audit quality. Using a sample of Chinese firms, an environment where we believe it provides us with an opportunity to test whether the development of market and legal institutions affects the impact of audit fees and auditor tenure on audit quality. We employ the standard deviation of residuals from regressions relating current accruals to cash flows as proxy for audit quality. The paper documents statistically significant negative association between audit fees and audit quality. These findings are consistent with economic bonding being a determinant of auditor behavior rather than auditor reputational concerns. Further, the current paper shows a positive association between auditor tenure and audit quality in the earlier years of audit tenure. These results support the proposition that when the Learning Effect dominates the Bonding Effect in the earlier years of tenure, then audit quality is likely to be higher. Taken audit fees and audit tenure together, the results suggest that there is positive association between audit fees and audit quality in the earlier years of auditor tenure. Interestingly, the findings of our study have important implications for auditors, policymakers, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investors. To a lesser extent, our paper also differs from the prior studies in methodology and findings in the investigation of audit quality.

Keywords: audit quality, accruals quality, audit fees, auditor tenure

Procedia PDF Downloads 258

Authors: Anila Xhahysa, Migena Ceyhan, Neki Kuka, Klajdi Qoshi, Damiano Koxhaj

Abstract:

The seismic event catalog has been updated in the framework of a bilateral project supported by the Central European Investment Fund and with the extensive support of Global Earthquake Model Foundation to update Albania's national seismic hazard model. The earthquake catalogue prepared within this project covers the Western Balkan area limited by 38.0° - 48°N, 12.5° - 24.5°E and includes 41,806 earthquakes that occurred in the region between 510 BC and 2022. Since the moment magnitude characterizes the earthquake size accurately and the selected ground motion prediction equations for the seismic hazard assessment employ this scale, it was chosen as the uniform magnitude scale for the catalogue. Therefore, proxy values of moment magnitude had to be obtained by using new magnitude conversion equations between the local and other magnitude types to this unified scale. The Global Centroid Moment Tensor Catalogue was considered the most authoritative for moderate to large earthquakes for moment magnitude reports; hence it was used as a reference for calibrating other sources. The best fit was observed when compared to some regional agencies, whereas, with reports of moment magnitudes from Italy, Greece and Turkey, differences were observed in all magnitude ranges. For teleseismic magnitudes, to account for the non-linearity of the relationships, we used the exponential model for the derivation of the regression equations. The obtained regressions for the surface wave magnitude and short-period body-wave magnitude show considerable differences with Global Earthquake Model regression curves, especially for low magnitude ranges. Moreover, a conversion relation was obtained between the local magnitude of Albania and the corresponding moment magnitude as reported by the global and regional agencies. As errors were present in both variables, the Deming regression was used.

Keywords: regression, seismic catalogue, local magnitude, tele-seismic magnitude, moment magnitude

Procedia PDF Downloads 40

Authors: Yetunde M. Dairo, Johnny Collett, Helen Dawes

Abstract:

Background and Aim: Engagement with physical activity (PA) research is poor among adults with intellectual disabilities (ID), particularly in those from residential homes. This study explored why, by asking managers of residential homes, adults with ID and their carers. Methods: Participants: A convenient sample of 23 individuals from two UK local authorities, including a group of ID residential home managers, adults with ID and their support staff. Procedures: A) Residential home managers (n=6) were asked questions about their willingness to allow their residents to participate in PA research; B) eleven adults with ID and their support workers (n=6) were asked questions about their willingness to accept 7-day accelerometer monitoring and/or the International Physical Activity Questionnaire-short version (IPAQ-s) as PA measures. The IPAQ-s was administered by the researcher and they were each provided with samples of accelerometers to try on. Results: A) Five out of six managers said that the burden of wearing the accelerometer for seven days would be too high for the people they support, the majority of whom might be unable to express their wishes. They also said they would be unwilling to act as proxy respondents for the same reason. Additionally, they cited time pressure, understaffing, and reluctance to spend time on the research paperwork as further reasons for non-participation. B) All 11 individuals with ID completed the IPAQ-s while only three accepted the accelerometer, one of whom was deemed inappropriate to wear it. Reasons for rejecting accelerometers included statements from participants of: ‘too expensive’, ‘too heavy’, ‘uncomfortable’, and two people said they would not want to wear it for more than one day. All adults with ID (11) and their support workers (6) provided information about their physical activity levels through the IPAQ-s. Conclusions: Care home managers are a barrier to research participation. However, adults with ID would be happy for the IPAQ-s as a PA measure, but less so for the 7-day accelerometer monitoring. In order to improve participation in this population, the choice of PA measure is considered important. Moreover, there is a need for studies exploring how best to engage ID residential home managers in PA research.

Keywords: intellectual disability, physical activity measurement, research engagement, research participation

Procedia PDF Downloads 271

Authors: Guilhermina Torrao

Abstract:

An extensive number of studies have been conducted to determine the factors which influence crash injury risk (CIR); however, uncertainties inherent to selected variables have been neglected. A review of existing literature is required to not only obtain an overview of the variables and measures but also ascertain the implications when comparing studies without a systematic view of variable taxonomy. Therefore, the aim of this literature review is to examine and report on peer-reviewed studies in the field of crash analysis and to understand the implications of broad variations in variable selection in CIR analysis. The objective of this study is to demonstrate the variance in variable selection and classification when modeling injury risk involving occupants of light vehicles by presenting an analytical review of the literature. Based on data collected from 64 journal publications reported over the past 21 years, the analytical review discusses the variables selected by each study across an organized list of predictors for CIR analysis and provides a better understanding of the contribution of accident and vehicle factors to injuries acquired by occupants of light vehicles. A cross-comparison analysis demonstrates that almost half the studies (48%) did not consider vehicle design specifications (e.g., vehicle weight), whereas, for those that did, the vehicle age/model year was the most selected explanatory variable used by 41% of the literature studies. For those studies that included speed risk factor in their analyses, the majority (64%) used the legal speed limit data as a ‘proxy’ of vehicle speed at the moment of a crash, imposing limitations for CIR analysis and modeling. Despite the proven efficiency of airbags in minimizing injury impact following a crash, only 22% of studies included airbag deployment data. A major contribution of this study is to highlight the uncertainty linked to explanatory variable selection and identify opportunities for improvements when performing future studies in the field of road injuries.

Keywords: crash, exploratory, injury, risk, variables, vehicle

Procedia PDF Downloads 96

Authors: Chi-Jung Chung, Chao-Hsiang Chang, Chiu-Shong Liu, Sheng-Wei Li, Mu-Chi Chung, Ting-Jie Wen, Hui-Ling Lee

Abstract:

Cigarette smoke contains volatile organic compounds (VOCs), such as acrylamide, 1,3-butadiene, and benzene. This study aimed to explore the associations between the urinary levels of cotinine and VOC metabolites and the risk of urothelial carcinoma (UC). A hospital-based case–control study involving two groups matched on the basis of age ( ± 3 years) and gender was designed. UC was clinically diagnosed through urological examinations and pathologically verified. Smoking-related information was collected through questionnaires and face-to-face interviews with all study participants. Urine samples were collected for the analysis of the urinary levels of VOC metabolites, cotinine, and 8-hydroxydeoxygua- nosine (8-OHdG), which was selected as a proxy of oxidative stress. Multiple logistic regressions were applied to estimate the risk of UC. The urinary cotinine and 8-OHdG levels of the UC group were higher than those of the control group. The urinary levels of VOC metabolites, including N-acetyl-S-(2-carbamoylethyl)-L-cysteine (AAMA), N- acetyl-S-(2-carbamoyl-2-hydroxyethyl)-L-cysteine, N-acetyl-S- (4- hydroxy-2-buten-1-yl)-Lcysteine-3, trans, trans-muconic acid (t,t- MA), and S-phenylmercapturic acid (SPMA) increased as the urinary levels of cotinine increased. Relevant dose-response relationships between the risk of UC risk and the urinary levels of AAMA , t,t-MA, SPMA, and 8-OHdG were found after adjusting for potential risk factors. The UC risk of participants with high urinary levels of cotinine, AAMA, t,t-MA, SPMA, and 8-OHdG were 3.5–6-fold higher than those of other participants. Increased urinary levels of VOC metabolites were associated with smoking-related UC risk. The development of UC should be explored in large-scale in vitro or in vivo studies with the repeated measurement of VOC metabolites.

Keywords: volatile organic compound, urothelial carcinoma, cotinine, 8-hydroxydeoxyguanosine

Procedia PDF Downloads 116

Authors: Marlen Acosta Alamo, Lisa Manne, Richard Veit

Abstract:

Habitat loss due to land use change is one of the leading causes of biodiversity loss worldwide. This form of habitat loss is a non-random phenomenon since the same environmental factors that make an area suitable for supporting high local biodiversity overlap with those that make it attractive for urban development. We aimed to compare the effect of two non-random habitat loss predictors on the richness, abundance, and rarity of nature-affiliated and human-affiliated North American breeding birds. For each group of birds, we simulated the non-random habitat loss using two predictors: the House Price Index as a measure of the attractiveness of an area for humans and the Normalized Difference Vegetation Index as a proxy for primary productivity. We compared the results of the two non-random simulation sets and one set of random habitat loss simulations using an analysis of variance and followed up with a Tukey-Kramer test when appropriate. The attractiveness of an area for humans predicted estimates of richness loss and increase of rarity higher than primary productivity and random habitat loss for nature-affiliated and human-affiliated birds. For example, at 50% of habitat loss, the attractiveness of an area for humans produced estimates of richness at least 5% lower and of a rarity at least 40% higher than primary productivity and random habitat loss for both groups of birds. Only for the species abundance of nature-affiliated birds, the attractiveness of an area for humans did not outperform primary productivity as a predictor of biodiversity following habitat loss. We demonstrated the value of the House Price Index, which can be used in conservation assessments as an index of the risks of habitat loss for natural communities. Thus, our results have relevant implications for sustainable urban land-use planning practices and can guide stakeholders and developers in their efforts to conserve local biodiversity.

Keywords: biodiversity loss, bird biodiversity, house price index, non-random habitat loss

Procedia PDF Downloads 55

Authors: Novee Lor C. Leyso, Maylin C. Palatino

Abstract:

Under-five malnutrition continues to persist in the Philippines, particularly in the island Province of Marinduque, with prevalence of some forms of malnutrition even worsening in recent years. Local spatial cluster detection provides a spatial perspective in understanding this phenomenon as key in analyzing patterns of geographic variation, identification of community-appropriate programs and interventions, and focused targeting on high-risk areas. Using data from a province-wide household-based census conducted in 2014–2016, this study aimed to determine and evaluate spatial clusters of under-five malnutrition, across the province and within each municipality at the individual level using household location. Malnutrition was defined as weight-for-age z-score that fall outside the 2 standard deviations from the median of the WHO reference population. The Kulldorff’s elliptical spatial scan statistic in binomial model was used to locate clusters with high-risk of malnutrition, while adjusting for age and membership to government conditional cash transfer program as proxy for socio-economic status. One large significant cluster of under-five malnutrition was found southwest of the province, in which living in these areas at least doubles the risk of malnutrition. Additionally, at least one significant cluster were identified within each municipality—mostly located along the coastal areas. All these indicate apparent geographical variations across and within municipalities in the province. There were also similarities and disparities in the patterns of risk of malnutrition in each cluster across municipalities, and even within municipality, suggesting underlying causes at work that warrants further investigation. Therefore, community-appropriate programs and interventions should be identified and should be focused on high-risk areas to maximize limited government resources. Further studies are also recommended to determine factors affecting variations in childhood malnutrition considering the evidence of spatial clustering found in this study.

Keywords: Binomial model, Kulldorff’s elliptical spatial scan statistic, Philippines, under-five malnutrition

Procedia PDF Downloads 102

Authors: Emmanuel Yussuf, John Muthama, John Ng'ang'A

Abstract:

There has been increasing noise levels all over the world in the last decade. Many factors contribute to this increase, which is causing health related effects to humans. Developing countries are not left out of the whole picture as they are still growing and advancing their development. Motor vehicles are increasing on urban roads; there is an increase in infrastructure due to the rising population, increasing number of industries to provide goods and so many other activities. All this activities lead to the high noise levels in cities. This study was conducted in Nairobi’s Central Business District (CBD) with the main objective of simulating noise levels in order to understand the noise exposed to the people within the urban area, in relation to weather parameters namely temperature, rainfall and wind field. The study was achieved using the Neighbourhood Proximity Model and Time Series Analysis, with data obtained from proxies/remotely-sensed from satellites, in order to establish the levels of noise exposed to which people of Nairobi CBD are exposed to. The findings showed that there is an increase in temperature (0.1°C per year) and a decrease in precipitation (40 mm per year), which in comparison to the noise levels in the area, are increasing. The study also found out that noise levels exposed to people in Nairobi CBD were roughly between 61 and 63 decibels and has been increasing, a level which is high and likely to cause adverse physical and psychological effects on the human body in which air temperature, precipitation and wind contribute so much in the spread of noise. As a noise reduction measure, the use of sound proof materials in buildings close to busy roads, implementation of strict laws to most emitting sources as well as further research on the study was recommended. The data used for this study ranged from the year 2000 to 2015, rainfall being in millimeters (mm), temperature in degrees Celsius (°C) and the urban form characteristics being in meters (m).

Keywords: simulation, noise exposure, weather, proxy

Procedia PDF Downloads 348

Authors: Sylvester S. Horvey, Jones Mensah

Abstract:

The growing complexities and dynamics in the business environment have led to a new approach to risk management, known as enterprise risk management (ERM). ERM is a system and an approach to managing the risks of an organization in an integrated manner to achieve the corporate goals and strategic objectives. Regardless of the diversities in the business environment, ERM has become an essential factor in managing individual and business risks because ERM is believed to enhance shareholder value and firm growth. Despite the growing number of literature on ERM, the question about what factors drives ERM remains limited. This study provides a comprehensive literature review of the main factors that contribute to ERM implementation. Google Scholar was the leading search engine used to identify empirical literature, and the review spanned between 2000 and 2020. Articles published in Scimago journal ranking and Scopus were examined. Thirteen firm characteristics and sixteen articles were considered for the empirical review. Most empirical studies agreed that firm size, institutional ownership, industry type, auditor type, industrial diversification, earnings volatility, stock price volatility, and internal auditor had a positive relationship with ERM adoption, whereas firm size, institutional ownership, auditor type, and type of industry were mostly seen be statistically significant. Other factors such as financial leverage, profitability, asset opacity, international diversification, and firm complexity revealed an inconclusive result. The growing literature on ERM is not without limitations; hence, this study suggests that further research should examine ERM determinants within a new geographical context while considering a new and robust way of measuring ERM rather than relying on a simple proxy (dummy) for ERM measurement. Other firm characteristics such as organizational culture and context, corporate scandals and losses, and governance could be considered determinants of ERM adoption.

Keywords: enterprise risk management, determinants, ERM adoption, literature review

Procedia PDF Downloads 142

Authors: Madhalasa Iyer

Abstract:

The increase in sustainable practices have encouraged the research and production of alternative fuels. New techniques of bio flocculation with the addition of yeast and bacteria strains have increased the efficiency of biofuel production. Fatty acid methyl ester (FAME) analysis in previous research has indicated that yeast can serve as a plausible enhancer for microalgal lipid production. The research hopes to identify the yeast and microalgae treatment group that produces the largest algae biomass. The mass of the dried algae is used as a proxy for TAG production correlating to the cultivation of biofuels. The study uses a model bioreactor created and built using PVC pipes, 8-port sprinkler system manifold, CO2 aquarium tank, and disposable water bottles to grow the microalgae. Nannochloropsis sp., and Isochrysis galbanawere inoculated separately in experimental group 1 and 2 with no treatments and in experimental groups 3 and 4 with each algaeco-cultured with Saccharomyces cerevisiae in the medium of standard garden stone fertilizer. S. cerevisiae was grown in a petri dish with nutrient agar medium before inoculation. A Secchi stick was used before extraction to collect data for the optical density of the microalgae. The biomass estimator was then used to measure the approximate production of biomass. The microalgae were grown and extracted with a french press to analyze secondary measurements using the dried biomass. The experimental units of Isochrysis galbana treated with the baker’s yeast strains showed an increase in the overall mass of the dried algae. S. cerevisiae proved to be an accurate and helpful addition to the solution to provide for the growth of algae. The increase in productivity of this fuel source legitimizes the possible replacement of non-renewable sources with more promising renewable alternatives. This research furthers the notion that yeast and mutants can be engineered to be employed in efficient biofuel creation.

Keywords: biofuel, co-culture, S. cerevisiae, microalgae, yeast

Procedia PDF Downloads 83

Authors: Shay Kee Tan, Kok Haur Ng, Jennifer So-Kuen Chan

Abstract:

This paper extends the conditional autoregressive range (CARR) model to multivariate CARR (MCARR) model and further to the two-stage MCARR-return model to model and forecast volatilities, correlations and returns of multiple financial assets. The first stage model fits the scaled realised Parkinson volatility measures using individual series and their pairwise sums of indices to the MCARR model to obtain in-sample estimates and forecasts of volatilities for these individual and pairwise sum series. Then covariances are calculated to construct the fitted variance-covariance matrix of returns which are imputed into the stage-two return model to capture the heteroskedasticity of assets’ returns. We investigate different choices of mean functions to describe the volatility dynamics. Empirical applications are based on the Standard and Poor 500, Dow Jones Industrial Average and Dow Jones United States Financial Service Indices. Results show that the stage-one MCARR models using asymmetric mean functions give better in-sample model fits than those based on symmetric mean functions. They also provide better out-of-sample volatility forecasts than those using CARR models based on two robust loss functions with the scaled realised open-to-close volatility measure as the proxy for the unobserved true volatility. We also find that the stage-two return models with constant means and multivariate Student-t errors give better in-sample fits than the Baba, Engle, Kraft, and Kroner type of generalized autoregressive conditional heteroskedasticity (BEKK-GARCH) models. The estimates and forecasts of value-at-risk (VaR) and conditional VaR based on the best MCARR-return models for each asset are provided and tested using Kupiec test to confirm the accuracy of the VaR forecasts.

Keywords: range-based volatility, correlation, multivariate CARR-return model, value-at-risk, conditional value-at-risk

Procedia PDF Downloads 69

Authors: Yong-Kian Lim, Khan Cheung, Xin Dang, Steven Roberts, Xiaotong Wang, Vengatesen Thiyagarajan

Abstract:

Unprecedented rate of increased CO₂ level in the ocean and the subsequent changes in carbonate system including decreased pH, known as ocean acidification (OA), is predicted to disrupt not only the calcification process but also several other physiological and developmental processes in a variety of marine organisms, including edible oysters. Nonetheless, not all species are vulnerable to those OA threats, e.g., some species may be able to cope with OA stress using environmentally induced modifications on gene and protein expressions. For example, external environmental stressors, including OA, can influence the addition and removal of methyl groups through epigenetic modification (e.g., DNA methylation) process to turn gene expression “on or off” as part of a rapid adaptive mechanism to cope with OA. In this study, the above hypothesis was tested through testing the effect of OA, using decreased pH 7.4 as a proxy, on the DNA methylation pattern of an endemic and a commercially important estuary oyster species, Crassostrea hongkongensis, at the time of larval habitat selection and metamorphosis. Larval growth rate did not differ between control pH 8.1 and treatment pH 7.4. The metamorphosis rate of the pediveliger larvae was higher at pH 7.4 than those in control pH 8.1; however, over one-third of the larvae raised at pH 7.4 failed to attach to an optimal substrate as defined by biofilm presence. During larval development, a total of 130 genes were differentially methylated across the two treatments. The differential methylation in the larval genes may have partially accounted for the higher metamorphosis success rate under decreased pH 7.4 but with poor substratum selection ability. Differentially methylated loci were concentrated in the exon regions and appear to be associated with cytoskeletal and signal transduction, oxidative stress, metabolic processes, and larval metamorphosis, which implies the high potential of C. hongkongensis larvae to acclimate and adapt through non-genetic ways to OA threats within a single generation.

Keywords: adaptive plasticity, DNA methylation, larval metamorphosis, ocean acidification

Procedia PDF Downloads 112

Authors: C. A. Bradley, D. Patsios, D. Berridge

Abstract:

This paper presents evidence to better understand the risk and protective factors related to sibling conflict and the patterns of association between sibling conflict and negative adjustment outcomes by incorporating additional familial and societal factors within statistical models of risk and adjustment. It was conducted through the secondary analysis of a large representative cross-sectional dataset of children in the UK. The original study includes proxy interviews for young children and self-report interviews for adolescents. The study applies an ecological systems framework for the analyses. Hierarchical regression models assess risk and protective factors and adjustment outcomes associated with sibling conflict. Interactions reveal differential effect between contextual risk factors and the social context of influence. The general pattern of findings suggested that, although factors affecting likelihood of experiencing sibling conflict were often determined by child age, some remained consistent across childhood. These factors were often conditional on each other, reinforcing the importance of an ecological framework. Across both age-groups, sibling conflict was associated with siblings closer in age; male sibling groups; most advantaged socio-economic group; and exposure to community violence, such as witnessing violent assault or robbery. The study develops the evidence base on the influence of ethnicity and socio-economic group on sibling conflict by exploring interactions between social context. It also identifies key new areas of influence – such as family structure, disability, and community violence in exacerbating or reducing risk of conflict. The study found negative associations between sibling conflict and young children’s mental well-being and adolescents' mental well-being and anti-social behaviour, but also more context specific associations – such as sibling conflict moderating the negative impact of adversity and high risk experiences for young children such as parental violence toward the child.

Keywords: adjustment, conflict, ecological systems, family systems, risk and protective factors, sibling

Procedia PDF Downloads 81

Authors: Oliver Ikechukwu Inyiama, Boniface Uche Ugwuanyi

Abstract:

The aim of the research is to evaluate the key financial performance indicators that help both managers and their shareholders of Nigerian Banks to determine the appropriate dividend payout to their ordinary shareholders in an accounting year. Profitability, total asset, and earnings of commercial banks were selected as key performance indicators in Nigeria Banking Sector. They represent the independent variables of the study while dividend per share is the proxy for the dividend paid on ordinary shares which represent the dependent variable. The effect of profitability, total asset and earnings on dividend per share were evaluated through the ordinary least square method of multiple regression analysis. Test for normality of frequency distribution was conducted through descriptive statistics such as Jacque Bera Statistic, skewness and kurtosis. Rate of dividend payout was subsequently applied as an alternate dependent variable to test for robustness of the earlier results. The 64% adjusted R-squared of the pooled data indicates that profitability, total asset, and earnings explain the variation in dividend per share during the period under research while the remaining 36% variation in dividend per share could be explained by changes in other variables not captured by this study as well as the error term. The study concentrated on four leading Nigeria Commercial Banks namely; First Bank of Nigeria Plc, GTBank Plc, United Bank for Africa Plc and Zenith International Bank Plc. Dividend per share was found to be positively affected by total assets and earnings of the commercial banks. However, profitability which was proxied by profit after tax had a negative effect on dividend per share. The implication of the findings is that commercial banks in Nigeria pay more dividend when they are having a dwindling fortune in order to retain the confidence of the shareholders provided their gross earnings and size is on the increase. Therefore, the management and board of directors of Nigeria commercial banks should apply decent marketing strategies to enhance earnings through investment in profitable ventures for an improved dividend payout rate.

Keywords: assets, banks, indicators, performance, profitability, shares

Procedia PDF Downloads 131