Search results for: stakeholder theory
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4783

Search results for: stakeholder theory

4513 Order vs. Justice: The Cases of Libya and Syria from the Perspective of the English School Theory

Authors: A. Gün Güneş

Abstract:

This study aims to explicate the functionality of the responsibility to protect (R2P) in terms of order and justice within the context of the main traditions of the English School theory. The conflicts in Libya and Syria and the response of the international society to these crises are analyzed in the pluralism-solidarism dichotomy of the English School. In this regard, the intervention under R2P in Libya exemplifies the solidaristic side emphasizing justice, while the non-intervention in Syria exemplifies the pluralistic side emphasizing order. This study discusses the cases of Libya and Syria on the basis of Great Powers.

Keywords: English school theory, international society, order, justice, responsibility to protect

Procedia PDF Downloads 399
4512 'Freud and Jung: Dissenting Friends'; An Analysis of the Foundations of the Psychoanalytical Theory in Theirs Letters

Authors: Laurence Doremus

Abstract:

Freud as the builder of psychoanalysis as a discipline had created the science with Carl Gustav Jung (1875-1961), a psychiatry specialist from Zurich who was very important in the Freudian theory. The knowledge about the foundation of psychoanalysis is often focused on the influence of the works from Breuer or Charcot in the Freudian praxis, at least at the beginning of his career, and Jung's influence is often under-estimated. The paper focuses on the importance of the Jungian contributions in Freud's theories at the beginning of the creation of the discipline in the 1910s. We often meet Jungian schools on the first hand and Freudian schools, on the other hand in the academic field, but the Freudian field has to admit the importance of the Jungian theories in Freudian science. And also, the dialectical energy which appears in the letters exchanged between both of the fathers of psychoanalysis is important to understand the foundations of Freud Theory. That's why the paper will analyze in detail the correspondence between them in an epistemological and historical approach. Effectively the letters were translated and published (in French but also in English and other languages) lately in history and are still not well knew by the researchers in the psychoanalytical field. We well explain how Freud was helped by Jung despite his desire to build the theory. We analyze how the second topic named 'unconscious, preconscious, and conscious', is the result of the first topic that Jung built with Freud. The paper is a contribution to the knowledge we should have about the intense friendship between the two protagonists.

Keywords: Carl Gustav Jung, correspondence, Freud's letters, psychoanalytic theory

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4511 The Search for the Self in Psychotherapy: Findings from Relational Theory and Neuroanatomy

Authors: Harry G. Segal

Abstract:

The idea of the “self” has been essential ever since the early modern period in western culture, especially since the development of psychotherapy, but advances in neuroscience and cognitive theory challenge traditional notions of the self. More specifically, neuroanatomists have found no location of “the self” in the brain; instead, consciousness has been posited to be a rapid combination of perception, memory, anticipation of future events, and judgment. In this paper, a theoretical model is presented to address these neuroanatomical findings and to revise the historical understanding of “selfhood” in the practice of psychotherapy.

Keywords: the self, psychotherapy, the self and the brain

Procedia PDF Downloads 78
4510 Investigating Gender Differences in M-Learning Gameplay Adoption

Authors: Chih-Ping Chen

Abstract:

Despite the increasing popularity of and interest in mobile games, there has been little research that evaluates gender differences in users’ actual preferences for mobile game content, and the factors that influence entertainment and mobile-learning habits. To fill this void, this study examines different gender users’ experience of mobile English learning game adoption in order to identify the areas of development in Taiwan, using Uses and Gratification Theory, Expectation Confirmation Theory and experiential value. The integration of these theories forms the basis of an extended research concept. Users’ responses to questions about cognitive perceptions, confirmation, gratifications and continuous use were collected and analyzed with various factors derived from the theories.

Keywords: expectation confirmation theory, experiential value, gender difference, mobile game, uses and gratification

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4509 Understanding Personal Well-Being among Entrepreneurial Breadwinners: Bibliographic and Empirical Analyses of Relative Resource Theory

Authors: E. Fredrick Rice

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Over the past three decades, a substantial body of academic literature has asserted that the pressure to maintain household income can negatively affect the personal well-being of breadwinners. Given that scholars have failed to thoroughly explore this phenomenon with breadwinners who are also business owners, theory has been underdeveloped in the entrepreneurial context. To identify the most appropriate theories to apply to entrepreneurs, the current paper utilized two approaches. First, a comprehensive bibliographic analysis was conducted focusing on works at the intersection of breadwinner status and well-being. Co-authorship and journal citation patterns highlighted relative resource theory as a boundary spanning approach with promising applications in the entrepreneurial space. To build upon this theory, regression analysis was performed using data from the Panel Study of Entrepreneurial Dynamics (PSED). Empirical results showed evidence for the effects of breadwinner status and household income on entrepreneurial well-being. Further, the findings suggest that it is not merely income or job status that predicts well-being, but one’s relative financial contribution compared to that of one’s non-breadwinning organizationally employed partner. This paper offers insight into how breadwinner status can be studied in relation to the entrepreneurial personality.

Keywords: breadwinner, entrepreneurship, household income, well-being.

Procedia PDF Downloads 141
4508 Modelling Operational Risk Using Extreme Value Theory and Skew t-Copulas via Bayesian Inference

Authors: Betty Johanna Garzon Rozo, Jonathan Crook, Fernando Moreira

Abstract:

Operational risk losses are heavy tailed and are likely to be asymmetric and extremely dependent among business lines/event types. We propose a new methodology to assess, in a multivariate way, the asymmetry and extreme dependence between severity distributions, and to calculate the capital for Operational Risk. This methodology simultaneously uses (i) several parametric distributions and an alternative mix distribution (the Lognormal for the body of losses and the Generalized Pareto Distribution for the tail) via extreme value theory using SAS®, (ii) the multivariate skew t-copula applied for the first time for operational losses and (iii) Bayesian theory to estimate new n-dimensional skew t-copula models via Markov chain Monte Carlo (MCMC) simulation. This paper analyses a newly operational loss data set, SAS Global Operational Risk Data [SAS OpRisk], to model operational risk at international financial institutions. All the severity models are constructed in SAS® 9.2. We implement the procedure PROC SEVERITY and PROC NLMIXED. This paper focuses in describing this implementation.

Keywords: operational risk, loss distribution approach, extreme value theory, copulas

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4507 Extending the Theory of Planned Behaviour to Predict Intention to Commute by Bicycle: Case Study of Mexico City

Authors: Magda Cepeda, Frances Hodgson, Ann Jopson

Abstract:

There are different barriers people face when choosing to cycle for commuting purposes. This study examined the role of psycho-social factors predicting the intention to cycle to commute in Mexico City. An extended version of the theory of planned behaviour was developed and utilized with a simple random sample of 401 road users. We applied exploratory and confirmatory factor analysis and after identifying five factors, a structural equation model was estimated to find the relationships among the variables. The results indicated that cycling attributes, attitudes to cycling, social comparison and social image and prestige were the most important factors influencing intention to cycle. Although the results from this study are specific to Mexico City, they indicate areas of interest to transportation planners in other regions especially in those cities where intention to cycle its linked to its perceived image and there is political ambition to instigate positive cycling cultures. Moreover, this study contributes to the current literature developing applications of the Theory of Planned Behaviour.

Keywords: cycling, latent variable model, perception, theory of planned behaviour

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4506 Methods for Solving Identification Problems

Authors: Fadi Awawdeh

Abstract:

In this work, we highlight the key concepts in using semigroup theory as a methodology used to construct efficient formulas for solving inverse problems. The proposed method depends on some results concerning integral equations. The experimental results show the potential and limitations of the method and imply directions for future work.

Keywords: identification problems, semigroup theory, methods for inverse problems, scientific computing

Procedia PDF Downloads 451
4505 Multimedia Data Fusion for Event Detection in Twitter by Using Dempster-Shafer Evidence Theory

Authors: Samar M. Alqhtani, Suhuai Luo, Brian Regan

Abstract:

Data fusion technology can be the best way to extract useful information from multiple sources of data. It has been widely applied in various applications. This paper presents a data fusion approach in multimedia data for event detection in twitter by using Dempster-Shafer evidence theory. The methodology applies a mining algorithm to detect the event. There are two types of data in the fusion. The first is features extracted from text by using the bag-ofwords method which is calculated using the term frequency-inverse document frequency (TF-IDF). The second is the visual features extracted by applying scale-invariant feature transform (SIFT). The Dempster - Shafer theory of evidence is applied in order to fuse the information from these two sources. Our experiments have indicated that comparing to the approaches using individual data source, the proposed data fusion approach can increase the prediction accuracy for event detection. The experimental result showed that the proposed method achieved a high accuracy of 0.97, comparing with 0.93 with texts only, and 0.86 with images only.

Keywords: data fusion, Dempster-Shafer theory, data mining, event detection

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4504 Investigation of the Stability and Spintronic Properties of NbrhgeX (X= Cr, Co, Mn, Fe, Ni) Using Density Functional Theory

Authors: Shittu Akinpelu, Issac Popoola

Abstract:

The compound NbRhGe has been predicted to be a semiconductor with excellent mechanical properties. It is an indirect band gap material. The potential of NbRhGe for non-volatile data storage via element addition is being studied using the Density Functional Theory (DFT). Preliminary results on the electronic and magnetic properties are suggestive for their application in spintronic.

Keywords: half-metals, Heusler compound, semiconductor, spintronic

Procedia PDF Downloads 132
4503 Measuring Stakeholder Engagement and Drivers of Success in Ethiopian Tourism Sector

Authors: Gezahegn Gizaw

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The FDRE Tourism Training Institute organizes forums for debates, best practices exchange and focus group discussions to forge a sustainable and growing tourism sector while minimizing negative impacts on the environment, communities, and cultures. This study aimed at applying empirical research method to identify and quantify relative importance of success factors and individual engagement indicators that were identified in these forums. Response to the 12-question survey was collected from a total of 437 respondents in academic training institutes (212), business executive and employee (204) and non-academic government offices (21). Overall, capacity building was perceived as the most important driver of success for stakeholder engagement. Business executive and employee category rated capacity building as the most important driver of success (53%), followed by decision-making process (27%) and community participation (20%). Among educators and students, both capacity building and decision-making process were perceived as the most important factors (40% of respondents), whereas community participation was perceived as the most important success factor only by 20% of respondents. Individual engagement score in capacity building, decision-making process and community participation showed highest variability by educational level of participants (variance of 3.4% - 5.2%, p<0.001). Individual engagement score in capacity building was highly correlated to perceived benefit of training on improved efficiency, job security, higher customer satisfaction and self-esteem. On the other hand, individual engagement score in decision making process was highly correlated to its perceived benefit on lowering business costs, improving ability to meet the needs of a target market, job security, self-esteem and more teamwork. The study provides a set of recommendations that help educators, business executives and policy makers to maximize the individual and synergetic effect of training, decision making process on sustainability and growth of the tourism sector in Ethiopia.

Keywords: engagement score, driver of success, capacity building, tourism

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4502 Illuminating Regional Identity: An Interdisciplinary Exploration in Saskatchewan

Authors: Anne Gibbons

Abstract:

Both inside and outside of academia, people have sought to understand the “sense of place” of various regions, many times over and for many different reasons. The concept of regional identity is highly complex and surrounded by considerable contention. There are multiple bodies of research on regional identity theory in many different disciplines and even across sub-disciplinary classifications. Each discipline takes a slightly different angle or perspective on regional identity, resulting in a fragmented body of work on this topic overall. There is a need to consolidate this body of increasingly fragmented theory through interdisciplinary integration. For the purpose of this study, the province of Saskatchewan will serve as an exemplar for exploring regional identity in a concrete context. Saskatchewan can be thought of as a ‘functional region,’ with clear boundaries and clear residency, from which regional identity can be studied. This thesis shares the outcomes of a qualitative study grounded in a series of group interviews with askatchewan residents, from which it is concluded that the use of interdisciplinary theory is an appropriate approach to the study of regional identity. Regional identity cannot be compartmentalized; it is a web of characteristics, attributes, and feelings that are inextricably linked. The thesis thus concludes by offering lessons learned about how we might better understand regional identity, as illuminated through both interdisciplinary theory and the lived experiences and imaginations of people living in the region of Saskatchewan.

Keywords: interdisciplinary, regional identity, Saskatchewan, tourism studies

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4501 The Mechanisms of Peer-Effects in Education: A Frame-Factor Analysis of Instruction

Authors: Pontus Backstrom

Abstract:

In the educational literature on peer effects, attention has been brought to the fact that the mechanisms creating peer effects are still to a large extent hidden in obscurity. The hypothesis in this study is that the Frame Factor Theory can be used to explain these mechanisms. At heart of the theory is the concept of “time needed” for students to learn a certain curricula unit. The relations between class-aggregated time needed and the actual time available, steers and hinders the actions possible for the teacher. Further, the theory predicts that the timing and pacing of the teachers’ instruction is governed by a “criterion steering group” (CSG), namely the pupils in the 10th-25th percentile of the aptitude distribution in class. The class composition hereby set the possibilities and limitations for instruction, creating peer effects on individual outcomes. To test if the theory can be applied to the issue of peer effects, the study employs multilevel structural equation modelling (M-SEM) on Swedish TIMSS 2015-data (Trends in International Mathematics and Science Study; students N=4090, teachers N=200). Using confirmatory factor analysis (CFA) in the SEM-framework in MPLUS, latent variables are specified according to the theory, such as “limitations of instruction” from TIMSS survey items. The results indicate a good model fit to data of the measurement model. Research is still in progress, but preliminary results from initial M-SEM-models verify a strong relation between the mean level of the CSG and the latent variable of limitations on instruction, a variable which in turn have a great impact on individual students’ test results. Further analysis is required, but so far the analysis indicates a confirmation of the predictions derived from the frame factor theory and reveals that one of the important mechanisms creating peer effects in student outcomes is the effect the class composition has upon the teachers’ instruction in class.

Keywords: compositional effects, frame factor theory, peer effects, structural equation modelling

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4500 Leadership Process Model: A Way to Provide Guidance in Dealing with the Key Challenges Within the Organisation

Authors: Rawaa El Ayoubi

Abstract:

Many researchers, academics and practitioners have developed leadership theories during the 20th century. This substantial effort has built more leadership theories, generating considerable organisational research on leadership models in contemporary literature. This paper explores the stages and drivers of leadership theory evolution based on the researcher’s personal conclusions and review of leadership theories. The purpose of this paper is to create a Leadership Process Model (LPM) that can provide guidance in dealing with the key challenges within the organisation. This integrative model of organisational leadership is based on inner meaning, leader values and vision. It further addresses the relationships between leadership theory, practice and development, exploring why challenges exist within the field of leadership theory and how these challenges can be mitigated.

Keywords: leadership challenges, leadership process model, leadership |theories, organisational leadership, paradigm development

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4499 Eco-Efficient Cementitious Materials for Construction Applications in Ireland

Authors: Eva Ujaczki, Rama Krishna Chinnam, Ronan Courtney, Syed A. M. Tofail, Lisa O'Donoghue

Abstract:

Concrete is the second most widely used material in the world and is made of cement, sand, and aggregates. Cement is a hydraulic binder which reacts with water to form a solid material. In the cement manufacturing process, the right mix of minerals from mined natural rocks, e.g., limestone is melted in a kiln at 1450 °C to form a new compound, clinker. In the final stage, the clinker is milled into a fine cement powder. The principal cement types manufactured in Ireland are: 1) CEM I – Portland cement; 2) CEM II/A – Portland-fly ash cement; 3) CEM II/A – Portland-limestone cement and 4) CEM III/A – Portland-round granulated blast furnace slag (GGBS). The production of eco-efficient, blended cement (CEM II, CEM III) reduces CO₂ emission and improves energy efficiency compared to traditional cements. Blended cements are produced locally in Ireland and more than 80% of produced cement is blended. These eco-efficient, blended cements are a relatively new class of construction materials and a kind of geopolymer binders. From a terminological point of view, geopolymer cement is a binding system that is able to harden at room temperature. Geopolymers do not require calcium-silicate-hydrate gel but utilize the polycondensation of SiO₂ and Al₂O₃ precursors to achieve a superior strength level. Geopolymer materials are usually synthesized using an aluminosilicate raw material and an activating solution which is mainly composed of NaOH or KOH and Na₂SiO₃. Cement is the essential ingredient in concrete which is vital for economic growth of countries. The challenge for the global cement industry is to reach to increasing demand at the same time recognize the need for sustainable usage of resources. Therefore, in this research, we investigated the potential for Irish wastes to be used in geopolymer cement type applications through a national stakeholder workshop with the Irish construction sector and relevant stakeholders. This paper aims at summarizing Irish stakeholder’s perspective for introducing new secondary raw materials, e.g., bauxite residue or increasing the fly ash addition into cement for eco-efficient cement production.

Keywords: eco-efficient, cement, geopolymer, blending

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4498 The Influence of Theories and Approaches to Educational Policy and Planning in Ghana’s Current Educational Developments

Authors: Ruth Donkoh, Wing On Lee, Solomon A. Boateng, Portia Oware Twerefoo, Josephine Donkor

Abstract:

In this paper we defend the value of theories and approaches to educational policy and planning in enhancing the educational developments in Ghana. This mission is achieved by enumerating the recent educational developments in Ghana and juxtaposing it with some educational theories, approaches to policy making, and policy planning to see if the educational developments conform with the theory principles as well as policy making and planning processes. Data collection for the research was made through textual analysis of policy documents as well as review of relevant literatures. The findings reveled that educational developments in Ghana are unable to attain its objectives due to the policies not conforming with the policy formation and planning principles. In addition, was that education planning in Ghana does not follow the policy-administration dichotomy theory principles and likewise the distribution of educational needs goes contrary to the equity theory. We recommend that educational policies in Ghana should be in conformity with the principles of theories as well as the approaches to educational policy making and planning to help meet the needs of learners, attain educational quality, and to help in the accomplishment of educational development objectives.

Keywords: Ghana education, equity theories, politics- administration dichotomy theory, educational policies, educational planning

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4497 A Survey on Taxpayer's Compliance in Prospect Theory Structure Using Hierarchical Bayesian Approach

Authors: Sahar Dehghan, Yeganeh Mousavi Jahromi, Ghahraman Abdoli

Abstract:

Since tax revenues are one of the most important sources of government revenue, it is essential to consider increasing taxpayers' compliance. One of the factors that can affect the taxpayers' compliance is the structure of the crimes and incentives envisaged in the tax law. In this research, by using the 'prospect theory', the effects of changes in the rate of crimes and the tax incentive in the direct tax law on the taxpayer’s compliance behavior have been investigated. To determine the preferences and preferences of taxpayer’s in the business sector and their degree of sensitivity to fines and incentives, a questionnaire with mixed gamble structure is designed. Estimated results using the Hierarchical Bayesian method indicate that the taxpayer’s that have been tested in this study are more sensitive to the incentives in the direct tax law, and the tax administration can use this to increase the level of collected tax and increase the level of compliance.

Keywords: tax compliance, prospect theory, value function, mixed gamble

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4496 Image Segmentation: New Methods

Authors: Flaurence Benjamain, Michel Casperance

Abstract:

We present in this paper, first, a comparative study of three mathematical theories to achieve the fusion of information sources. This study aims to identify the characteristics inherent in theories of possibilities, belief functions (DST) and plausible and paradoxical reasoning to establish a strategy of choice that allows us to adopt the most appropriate theory to solve a problem of fusion in order, taking into account the acquired information and imperfections that accompany them. Using the new theory of plausible and paradoxical reasoning, also called Dezert-Smarandache Theory (DSmT), to fuse information multi-sources needs, at first step, the generation of the composites events witch is, in general, difficult. Thus, we present in this paper a new approach to construct pertinent paradoxical classes based on gray levels histograms, which also allows to reduce the cardinality of the hyper-powerset. Secondly, we developed a new technique for order and coding generalized focal elements. This method is exploited, in particular, to calculate the cardinality of Dezert and Smarandache. Then, we give an experimentation of classification of a remote sensing image that illustrates the given methods and we compared the result obtained by the DSmT with that resulting from the use of the DST and theory of possibilities.

Keywords: segmentation, image, approach, vision computing

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4495 The Diffusion of Telehealth: System-Level Conditions for Successful Adoption

Authors: Danika Tynes

Abstract:

Telehealth is a promising advancement in health care, though there are certain conditions under which telehealth has a greater chance of success. This research sought to further the understanding of what conditions compel the success of telehealth adoption at the systems level applying Diffusion of Innovations (DoI) theory (Rogers, 1962). System-level indicators were selected to represent four components of DoI theory (relative advantage, compatibility, complexity, and observability) and regressed on 5 types of telehealth (teleradiology, teledermatology, telepathology, telepsychology, and remote monitoring) using multiple logistic regression. The analyses supported relative advantage and compatibility as the strongest influencers of telehealth adoption, remote monitoring in particular. These findings help to quantitatively clarify the factors influencing the adoption of innovation and advance the ability to make recommendations on the viability of state telehealth adoption. In addition, results indicate when DoI theory is most applicable to the understanding of telehealth diffusion. Ultimately, this research may contribute to more focused allocation of scarce health care resources through consideration of existing state conditions available foster innovation.

Keywords: adoption, diffusion of innovation theory, remote monitoring, system-level indicators

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4494 The Life-Cycle Theory of Dividends: Evidence from Indonesia

Authors: Vashti Carissa

Abstract:

The main objective of this study is to examine whether the life-cycle theory of dividends could explain the determinant of an optimal dividend policy in Indonesia. The sample that was used consists of 1,420 non-financial and non-trade, services, investment firms listed in Indonesian Stock Exchange during the period of 2005-2014. According to this finding using logistic regression, firm life-cycle measured by retained earnings as a proportion of total equity (RETE) significantly has a positive effect on the propensity of a firm pays dividend. The higher company’s earned surplus portion in its capital structure could reflect firm maturity level which will increase the likelihood of dividend payment in mature firms. This result provides an additional empirical evidence about the existence of life-cycle theory of dividends for dividend payout phenomenon in Indonesia. It can be known that dividends tend to be paid by mature firms while retention is more dominating in growth firms. From the testing results, it can also be known that majority of sample firms are being in the growth phase which proves the fact about infrequent dividend distribution in Indonesia during the ten years observation period.

Keywords: dividend, dividend policy, life-cycle theory of dividends, mix of earned and contributed capital

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4493 Analysis of Simply Supported Beams Using Elastic Beam Theory

Authors: M. K. Dce

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The aim of this paper is to investigate the behavior of simply supported beams having rectangular section and subjected to uniformly distributed load (UDL). In this study five beams of span 5m, 6m, 7m and 8m have been considered. The width of all the beams is 400 mm and span to depth ratio has been taken as 12. The superimposed live load has been increased from 10 kN/m to 25 kN/m at the interval of 5 kN/m. The analysis of the beams has been carried out using the elastic beam theory. On the basis of present study it has been concluded that the maximum bending moment as well as deflection occurs at the mid-span of simply supported beam and its magnitude increases in proportion to magnitude of UDL. Moreover, the study suggests that the maximum moment is proportional to square of span and maximum deflection is proportional to fourth power of span.

Keywords: beam, UDL, bending moment, deflection, elastic beam theory

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4492 Silencing the Protagonist: Gender and Rape Depiction in Pakistani Dramas

Authors: Saman R. Khan, Najma Sadiq

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Silencing of opinions is an important aspect of Spiral of Silence theory however its applicability in rape-themed dramas requires investigation. This study focuses on the portrayal of female rape victim protagonists in Pakistani dramas and the factors influencing their behavior after rape. A quantitative content analysis was conducted on two prime-time dramas which directly dealt with female rape victims. Results indicate that the female protagonists who faced rape are shown as silent and submissive characters who are unable to communicate about their ordeal due to fear of social isolation. These findings lend support to the Spiral of Silence theory and indicate that the theory’s basic elements (inability to express opinions and fear of social isolation) exist in these TV dramas.

Keywords: gender stereotyping, rape victims, the spiral of silence, TV dramas

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4491 Analysis and Simulation of TM Fields in Waveguides with Arbitrary Cross-Section Shapes by Means of Evolutionary Equations of Time-Domain Electromagnetic Theory

Authors: Ömer Aktaş, Olga A. Suvorova, Oleg Tretyakov

Abstract:

The boundary value problem on non-canonical and arbitrary shaped contour is solved with a numerically effective method called Analytical Regularization Method (ARM) to calculate propagation parameters. As a result of regularization, the equation of first kind is reduced to the infinite system of the linear algebraic equations of the second kind in the space of L2. This equation can be solved numerically for desired accuracy by using truncation method. The parameters as cut-off wavenumber and cut-off frequency are used in waveguide evolutionary equations of electromagnetic theory in time-domain to illustrate the real-valued TM fields with lossy and lossless media.

Keywords: analytical regularization method, electromagnetic theory evolutionary equations of time-domain, TM Field

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4490 Delisting Wave: Corporate Financial Distress, Institutional Investors Perception and Performance of South African Listed Firms

Authors: Adebiyi Sunday Adeyanju, Kola Benson Ajeigbe, Fortune Ganda

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In the past three decades, there has been a notable increase in the number of firms delisting from the Johannesburg Stock Exchange (JSE) in South Africa. The recent increasing rate of delisting waves of corporate listed firms motivated this study. This study aims to explore the influence of institutional investor perceptions on the financial distress experienced by delisted firms within the South African market. The study further examined the impact of financial distress on the corporate performance of delisted firms. Using the data of delisted firms spanning from 2000 to 2023 and the FGLS (Feasible Generalized Least Squares) for the short run and PCSE (Panel-Corrected Standard Errors) for the long run effects of the relationship. The finding indicated that a decline in institutional investors’ perceptions was associated with the corporate financial distress of the delisted firms, particularly during the delisting year and the few years preceding the announcement of the delisting. This study addressed the importance of investor recognition in corporate financial distress and the delisting wave among listed firms- a finding supporting the stakeholder theory. This study is an insight for companies’ managements, investors, governments, policymakers, stockbrokers, lending institutions, bankers, the stock market, and other stakeholders in their various decision-making endeavours. Based on the above findings, it was recommended that corporate managements should improve their governance strategies that can help companies’ financial performances. Accountability and transparency through governance must also be improved upon with government support through the introduction of policies and strategies and enabling an easy environment that can help companies perform better.

Keywords: delisting wave, institutional investors, financial distress, corporate performance, investors’ perceptions

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4489 A Game-Theory-Based Price-Optimization Algorithm for the Simulation of Markets Using Agent-Based Modelling

Authors: Juan Manuel Sanchez-Cartas, Gonzalo Leon

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A price competition algorithm for ABMs based on game theory principles is proposed to deal with the simulation of theoretical market models. The algorithm is applied to the classical Hotelling’s model and to a two-sided market model to show it leads to the optimal behavior predicted by theoretical models. However, when theoretical models fail to predict the equilibrium, the algorithm is capable of reaching a feasible outcome. Results highlight that the algorithm can be implemented in other simulation models to guarantee rational users and endogenous optimal behaviors. Also, it can be applied as a tool of verification given that is theoretically based.

Keywords: agent-based models, algorithmic game theory, multi-sided markets, price optimization

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4488 The Analysis of Application of Green Bonds in New Energy Vehicles in China: From Evolutionary Game Theory

Authors: Jing Zhang

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Sustainable development in the new energy vehicles field is the requirement of the net zero aim. Green bonds are accepted as a practical financial tool to boost the transformation of relevant enterprises. The paper analyzes the interactions among governments, enterprises of new energy vehicles, and financial institutions by an evolutionary game theory model and offers advice to stakeholders in China. The decision-making subjects of green behavior are affected by experiences, interests, perception ability, and risk preference, so it is difficult for them to be completely rational. Based on the bounded rationality hypothesis, this paper applies prospect theory in the evolutionary game analysis framework and analyses the costs of government regulation of enterprises adopting green bonds. The influence of the perceived value of revenue prospect and the probability and risk transfer coefficient of the government's active regulation on the decision-making agent's strategy is verified by numerical simulation. Finally, according to the research conclusions, policy suggestions are given to promote green bonds.

Keywords: green bonds, new energy vehicles, sustainable development, evolutionary Game Theory model

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4487 Developing a Theory for Study of Transformation of Historic Cities

Authors: Sana Ahrar

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Cities are undergoing rapid transformation with the change in lifestyle and technological advancements. These transformations may be experienced or physically visible in the built form. This paper focuses on the relationship between the social, physical environment, change in lifestyle and the interrelated factors influencing the transformation of any historic city. Shahjahanabad as a city has undergone transformation under the various political powers as well as the various policy implementations after independence. These visible traces of transformation diffused throughout the city may be due to socio-economic, historic, political factors and due to the globalization process. This study shall enable evolving a theory for the study of transformation of Historic cities such as Shahjahanabad: which has been plundered, rebuilt, and which still thrives as a ‘living heritage city’. The theory developed will be the process of studying the transformation and can be used by planners, policy makers and researchers in different urban contexts.

Keywords: heritage, historic cities, Shahjahanabad, transformation

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4486 Biofuels from Hybrid Poplar: Using Biochemicals and Wastewater Treatment as Opportunities for Early Adoption

Authors: Kevin W. Zobrist, Patricia A. Townsend, Nora M. Haider

Abstract:

Advanced Hardwood Biofuels Northwest (AHB) is a consortium funded by the United States Department of Agriculture (USDA) to research the potential for a system to produce advanced biofuels (jet fuel, diesel, and gasoline) from hybrid poplar in the Pacific Northwest region of the U.S. An Extension team was established as part of the project to examine community readiness and willingness to adopt hybrid as a purpose-grown bioenergy crop. The Extension team surveyed key stakeholder groups, including growers, Extension professionals, policy makers, and environmental groups, to examine attitudes and concerns about growing hybrid poplar for biofuels. The surveys found broad skepticism about the viability of such a system. The top concern for most stakeholder groups was economic viability and the availability of predictable markets. Growers had additional concerns stemming from negative past experience with hybrid poplar as an unprofitable endeavor for pulp and paper production. Additional barriers identified included overall land availability and the availability of water and water rights for irrigation in dry areas of the region. Since the beginning of the project, oil and natural gas prices have plummeted due to rapid increases in domestic production. This has exacerbated the problem with economic viability by making biofuels even less competitive than fossil fuels. However, the AHB project has identified intermediate market opportunities to use poplar as a renewable source for other biochemicals produced by petroleum refineries, such as acetic acid, ethyl acetate, ethanol, and ethylene. These chemicals can be produced at a lower cost with higher yields and higher, more-stable prices. Despite these promising market opportunities, the survey results suggest that it will still be challenging to induce growers to adopt hybrid poplar. Early adopters will be needed to establish an initial feedstock supply for a budding industry. Through demonstration sites and outreach events to various stakeholder groups, the project attracted interest from wastewater treatment facilities, since these facilities are already growing hybrid poplar plantations for applying biosolids and treated wastewater for further purification, clarification, and nutrient control through hybrid poplar’s phytoremediation capabilities. Since these facilities are already using hybrid poplar, selling the wood as feedstock for a biorefinery would be an added bonus rather than something requiring a high rate of return to compete with other crops and land uses. By holding regional workshops and conferences with wastewater professionals, AHB Extension has found strong interest from wastewater treatment operators. In conclusion, there are several significant barriers to developing a successful system for producing biofuels from hybrid poplar, with the largest barrier being economic viability. However, there is potential for wastewater treatment facilities to serve as early adopters for hybrid poplar production for intermediate biochemicals and eventually biofuels.

Keywords: hybrid poplar, biofuels, biochemicals, wastewater treatment

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4485 Higher Education Leadership and Creating Sites of Institutional Belonging: A Global Case Study

Authors: Lisa M. Coleman

Abstract:

The focus on disability, LGBTQ+, and internationalization has certainly been the subject of much research and programmatic across higher education. Many universities have entered into global partnerships with varying success and challenges across the various areas, including laws and policies. Attentiveness to the specific nuances of global inclusion, diversity, equity, belonging, and access (GIDBEA) and the leadership to support these efforts is crucial to the development of longstanding success across the programs. There have been a number of shifts related to diversification across student and alumni bodies. These shifts include but are not limited to how people identify gender, race, and sexuality (and the intersections across such identities), as well as trends across emerging and diverse disability communities. NYU is the most international campus in the United States, with the most campuses and sites outside of its county of origin and the most international students and exchange programs than any other university. As a result, the ongoing work related to GIDEBA is at the center of much of the leadership, administrative, and research efforts. Climate assessment work across NYU’s diverse global campus landscape will serve as the foundation to exemplify best practices related to data collection and dissemination, community and stakeholder engagement, and effective implementation of innovative strategies to close gap areas as identified. The data (quantitative and qualitative) and related research findings represent data collected from close to 22,000 stakeholders across the NYU campuses. The case study centers on specific methodological considerations, data integrity, stakeholder engagement from across student-faculty, staff, and alumni constituencies, and tactics to advance specific GIDBEA initiatives related to navigating shifting landscapes. Design thinking, incubation, and co-creation strategies have been employed to expand, leverage, actualize, and implement GIDBEA strategies that are – concrete, measurable, differentiated, and specific to global sites and regions and emerging trends.

Keywords: disability, LGBTQ+, DEI, research, case studies

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4484 Reducing Diagnostic Error in Australian Emergency Departments Using a Behavioural Approach

Authors: Breanna Wright, Peter Bragge

Abstract:

Diagnostic error rates in healthcare are approximately 10% of cases. Diagnostic errors can cause patient harm due to inappropriate, inadequate or delayed treatment, and such errors contribute heavily to medical liability claims globally. Therefore, addressing diagnostic error is a high priority. In most cases, diagnostic errors are the result of faulty information synthesis rather than lack of knowledge. Specifically, the majority of diagnostic errors involve cognitive factors, and in particular, cognitive biases. Emergency Departments are an environment with heightened risk of diagnostic error due to time and resource pressures, a frequently chaotic environment, and patients arriving undifferentiated and with minimal context. This project aimed to develop a behavioural, evidence-informed intervention to reduce diagnostic error in Emergency Departments through co-design with emergency physicians, insurers, researchers, hospital managers, citizens and consumer representatives. The Forum Process was utilised to address this aim. This involves convening a small (4 – 6 member) expert panel to guide a focused literature and practice review; convening of a 10 – 12 person citizens panel to gather perspectives of laypeople, including those affected by misdiagnoses; and a 18 – 22 person structured stakeholder dialogue bringing together representatives of the aforementioned stakeholder groups. The process not only provides in-depth analysis of the problem and associated behaviours, but brings together expertise and insight to facilitate identification of a behaviour change intervention. Informed by the literature and practice review, the Citizens Panel focused on eliciting the values and concerns of those affected or potentially affected by diagnostic error. Citizens were comfortable with diagnostic uncertainty if doctors were honest with them. They also emphasised the importance of open communication between doctors and patients and their families. Citizens expect more consistent standards across the state and better access for both patients and their doctors to patient health information to avoid time-consuming re-taking of long patient histories and medication regimes when re-presenting at Emergency Departments and to reduce the risk of unintentional omissions. The structured Stakeholder Dialogue focused on identifying a feasible behavioural intervention to review diagnoses in Emergency Departments. This needed to consider the role of cognitive bias in medical decision-making; contextual factors (in Victoria, there is a legislated 4-hour maximum time between ED triage and discharge / hospital admission); resource availability; and the need to ensure the intervention could work in large metropolitan as well as small rural and regional ED settings across Victoria. The identified behavioural intervention will be piloted in approximately ten hospital EDs across Victoria, Australia. This presentation will detail the findings of all review and consultation activities, describe the behavioural intervention developed and present results of the pilot trial.

Keywords: behavioural intervention, cognitive bias, decision-making, diagnostic error

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