Search results for: International Financial Reporting Standards

Authors: Edward A. Osifodunrin, Jose Manuel Dias Lopes

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In Nigeria, enormous efforts/resources had, over the years, been expended on promoting financial inclusion (FI); however, it is seemingly discouraging that many of its self-declared targets on FI remained unachieved, especially amongst the Rural Dwellers and Actors in the Informal Sectors (RDAIS). Expectedly, many reasons had been earmarked for these failures: low literacy level, huge informal/rural sectors etc. This study posits that in spite of these truly-debilitating factors, these FI policy failures could have been avoided or mitigated if the principles of active and better-managed citizens’ participation had been strictly followed in the (re)design/implementation of its FI policies. In other words, in a bid to mitigate the prevalent financial exclusion (FE) in Nigeria, this study hypothesizes the significant positive impact of involving the RDAIS in policy-wide decision making in the FI domain, backed by a preliminary empirical validation. Also, the study introduces the RDAIS-focused Participatory Financial Inclusion Policy (PFIP) as a major FI policy regeneration/improvement tool. The three categories of respondents that served as research subjects are FI experts in Nigeria (n = 72), RDAIS from the very rural/remote village of Unguwar Dogo in Northern Nigeria (n = 43) and RDAIS from another rural village of Sekere (n = 56) in the Southern region of Nigeria. Using survey design (5-point Likert scale questionnaires), random/stratified sampling, and descriptive/inferential statistics, the study often recorded independent consensus (amongst these three categories of respondents) that RDAIS’s active participation in iterative FI policy initiation, (re)design, implementation, (re)evaluation could indeed give improved FI outcomes. However, few questionnaire items also recorded divergent opinions and various statistically (in)significant differences on the mean scores of these three categories. The PFIP (or any customized version of it) should then be carefully integrated into the NFIS of Nigeria (and possibly in the NFIS of other developing countries) to truly/fully provide FI policy integration for these excluded RDAIS and arrest the prevalence of FE.

Keywords: Citizens’ participation, development, financial inclusion, formal financial services, national financial inclusion strategy, participatory financial inclusion policy, rural dwellers and actors in the informal sectors.

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Authors: Anna Rogozińska-Pawełczyk

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A psychological contract is an agreement between the employer and an employee that covers the parties’ informal and frequently non-verbalized obligations and expectations towards each other. The contract is a cognitive pattern-governing employee’s behaviour in the organization. A gap between employee’s expectations and the organizational reality may lead to difficult-to-solve conflicts or cause the employee to modify their behaviour towards organizational values and goals, if they are willing and ready to verbalize their expectations. The article discusses psychological contracts in the financial institutions in Poland. Its theoretical part outlines the types of psychological contracts in organizations (relational, transactional, and balanced) and shows the process of their verbalization. The purpose of the article is to present how the type of the psychological contract relates to employee’s readiness to verbalize it. The article ends with conclusions arising from the study.

Keywords: Customer contact staff in banks, employee expectations, financial institutions, mutual expectations, psychological contract, verbalization of the psychological contract.

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Authors: Mohd Salehuddin Mohd Zahari, Noor Ibtisam Abdul Karim, Mohd Zain Kutut, Mohd Zulhilmi Suhaimi

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Many people regard food events as part of gastronomic tourism and important in enhancing visitors’ experiences. Realizing the importance and contribution of food events to a country’s economy, the Malaysia government is undertaking greater efforts to promote such tourism activities to international tourists. Among other food events, the Ramadan bazaar is a unique food culture event, which receives significant attention from the Malaysia Ministry of Tourism. This study reports the empirical investigation into the international tourists’ perceptions, attraction towards the Ramadan bazaar and willingness in disseminating the information. Using the Ramadan bazaar at Kampung Baru, Kuala Lumpur as the data collection setting, results revealed that the Ramadan bazaar attributes (food and beverages, events and culture) significantly influenced the international tourist attraction to such a bazaar. Their high level of experience and satisfaction positively influenced their willingness to disseminate information. The positive response among the international tourists indicates that the Ramadan bazaar as gastronomic tourism can be used in addition to other tourism products as a catalyst to generate and boost the local economy. The related authorities that are closely associated with the tourism industry therefore should not ignore this indicator but continue to take proactive action in promoting the gastronomic event as one of the major tourist attractions.

Keywords: Ramadan bazaar, international tourists, attraction, dissemination, information.

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: Implied adjusted volatility, Financial crisis, Leland option pricing models.

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Authors: S. Turkan

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In this paper, the Turkey’s Top 500 Industrial Enterprises data in 2014 were analyzed by data envelopment analysis. Data envelopment analysis is used to detect efficient decision-making units such as universities, hospitals, schools etc. by using inputs and outputs. The decision-making units in this study are enterprises. To detect efficient enterprises, some financial ratios are determined as inputs and outputs. For this reason, financial indicators related to productivity of enterprises are considered. The efficient foreign weighted owned capital enterprises are detected via super efficiency model. According to the results, it is said that Mercedes-Benz is the most efficient foreign weighted owned capital enterprise in Turkey.

Keywords: Data envelopment analysis, super efficiency, financial ratios, BCC model.

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Authors: Ivan Lovrinović, Gordana Kordić, Martina Nakić

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There are little subjects in macroeconomics that are so widely discussed, but at the same time controversial and without a clear solution such as the choice of exchange rate regime. National authorities need to take into consideration numerous fundamentals, trying to fulfil goals of economic growth, low and stable inflation and international stability. This paper focuses on the countries of ex- Yugoslavia and their exchange rate history as independent states. We follow the development of the regimes in 6 countries during the transition through the financial crisis of the second part of the 2000s to the prospects of their final goal: full membership in the European Union. Main question is to what extent has the exchange regime contributed to their economic success, considering other objective factors.

Keywords: European Union, exchange rate regime, ex- Yugoslavia countries

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Authors: Semanur Soyyiğit Kaya, Ercan Eren

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Energy has a prominent role for development of nations. Countries which have energy resources also have strategic power in the international trade of energy since it is essential for all stages of production in the economy. Thus, it is important for countries to analyze the weaknesses and strength of the system. On the other side, international trade is one of the fields that are analyzed as a complex network via network analysis. Complex network is one of the tools to analyze complex systems with heterogeneous agents and interaction between them. A complex network consists of nodes and the interactions between these nodes. Total properties which emerge as a result of these interactions are distinct from the sum of small parts (more or less) in complex systems. Thus, standard approaches to international trade are superficial to analyze these systems. Network analysis provides a new approach to analyze international trade as a network. In this network, countries constitute nodes and trade relations (export or import) constitute edges. It becomes possible to analyze international trade network in terms of high degree indicators which are specific to complex networks such as connectivity, clustering, assortativity/disassortativity, centrality, etc. In this analysis, international trade of crude oil and coal which are types of fossil fuel has been analyzed from 2005 to 2014 via network analysis. First, it has been analyzed in terms of some topological parameters such as density, transitivity, clustering etc. Afterwards, fitness to Pareto distribution has been analyzed via Kolmogorov-Smirnov test. Finally, weighted HITS algorithm has been applied to the data as a centrality measure to determine the real prominence of countries in these trade networks. Weighted HITS algorithm is a strong tool to analyze the network by ranking countries with regards to prominence of their trade partners. We have calculated both an export centrality and an import centrality by applying w-HITS algorithm to the data. As a result, impacts of the trading countries have been presented in terms of high-degree indicators.

Keywords: Complex network approach, fossil fuel, international trade, network theory.

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Authors: Aurelija Burinskienė, Dalė Dzemydienė, Arūnas Miliauskas

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This research aims at developing the approach for more effective freight delivery and transportation process management. The road congestions and the identification of causes are important, as well as the context information recognition and management. The measure of many parameters during the transportation period and proper control of driver work became the problem. The number of vehicles per time unit passing at a given time and point for drivers can be evaluated in some situations. The collection of data is mainly used to establish new trips. The flow of the data is more complex in urban areas. Herein, the movement of freight is reported in detail, including the information on street level. When traffic density is extremely high in congestion cases, and the traffic speed is incredibly low, data transmission reaches the peak. Different data sets are generated, which depend on the type of freight delivery network. There are three types of networks: long-distance delivery networks, last-mile delivery networks and mode-based delivery networks; the last one includes different modes, in particular, railways and other networks. When freight delivery is switched from one type of the above-stated network to another, more data could be included for reporting purposes and vice versa. In this case, a significant amount of these data is used for control operations, and the problem requires an integrated methodological approach. The paper presents an approach for providing e-services for drivers by including the assessment of the multi-component infrastructure needed for delivery of freights following the network type. The construction of such a methodology is required to evaluate data flow conditions and overloads, and to minimize the time gaps in data reporting. The results obtained show the possibilities of the proposing methodological approach to support the management and decision-making processes with functionality of incorporating networking specifics, by helping to minimize the overloads in data reporting.

Keywords: Transportation networks, freight delivery, data flow, monitoring, e-services.

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Authors: Saleem Ahmed Aladhrai, Pier Luigi Ingrassia, Nahid K. El- Bakri

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Objective: The objective of this paper is to assess the hospitals preparedness for emergency using WHO standards. Method: This is a cross-sectional study, consisted of site visit, questionnaire survey, 16 health facilities were included. The WHO standard for emergency preparedness of health facilities was used to evaluate and assess the hospitals preparedness of health facilities. Result: 13 hospitals were responded. They scored below average in all measure >75%), while above average score was in 7 out 9 nine measure with a range of 8%-25%. Un acceptable below average was noted in two measures only. Discussion: The biggest challenge facing the hospitals in their emergency intervention is the lack of pre-emergency and emergency preparedness plans as well as the coordination of the hospitals response mechanisms. Conclusion: The studied hospitals presently are far from international disasters preparedness protocols. That necessitates improvements in emergency preparedness, as well as in physician skills for injury management.

Keywords: Arab Spring, Yemen, Hospital Preparedness, Disaster.

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Authors: Ming Ling Lai, Zalilawati Yaacob, Normah Omar, Norashikin Abdul Aziz, Bee Wah Yap

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This paper aims to (1) analyze the profiles of transgressors (detected evaders); (2) examine reason(s) that triggered a tax audit, causes of tax evasion, audit timeframe and tax penalty charged; and (3) to assess if tax auditors followed the guidelines as stated in the 'Tax Audit Framework' when conducting tax audits. In 2011, the Inland Revenue Board Malaysia (IRBM) had audited and finalized 557 company cases. With official permission, data of all the 557 cases were obtained from the IRBM. Of these, a total of 421 cases with complete information were analyzed. About 58.1% was small and medium corporations and from the construction industry (32.8%). The selection for tax audit was based on risk analysis (66.8%), information from third party (11.1%), and firm with low profitability or fluctuating profit pattern (7.8%). The three persistent causes of tax evasion by firms were over claimed expenses (46.8%), fraudulent reporting of income (38.5%) and overstating purchases (10.5%). These findings are consistent with past literature. Results showed that tax auditors took six to 18 months to close audit cases. More than half of tax evaders were fined 45% on additional tax raised during audit for the first offence. The study found tax auditors did follow the guidelines in the 'Tax Audit Framework' in audit selection, settlement and penalty imposition.

Keywords: Corporate tax fraud, tax non-compliance, tax evasion, tax audit, fraudulent reporting.

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Authors: Reza Ziaie Moayad, Azam Kouhpeyma

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In-situ testing is preferred to evaluate the liquefaction potential in cohesionless soils due to high disturbance during sampling. Although new in-situ methods with high accuracy have been developed, standard penetration test, the simplest and the oldest in-situ test, is still used due to the profusion of the recorded data. This paper reviews the Iranian standard of evaluating liquefaction potential in soils (codes 525) and compares the liquefaction assessment methods based on standard penetration test (SPT) results on cohesionless soil in this standard with the international standards. To this, methods for assessing liquefaction potential are compared with what is presented in standard 525. It is found that although the procedure used in Iranian standard of evaluating the potential of liquefaction has not been updated according to the new findings, it is a conservative procedure.

Keywords: cohesionless soil, liquefaction, SPT, Iranian liquefaction standard

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Authors: Poramet Saeng-On

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This research aims to develop ways of lodging business management of Bang Khonthi community in Samut Songkram province that are appropriate with the cultural context of the Bang Khonthi community. Eight lodging business owners were interviewed. It was found that lodging business that are family business must be done with passion, correct understanding of self, culture, nature, Thai way of life, thorough, professional development, environmentally concerned, building partnerships with various networks both community level, and public sector and business cohorts. Public relations should be done through media both traditional and modern outlets, such as websites and social networks to provide customers convenience, security, happiness, knowledge, love and value when travel to Bang Khonthi. This will also help them achieve sustainability in business, in line with the 10 Home Stay Standard Thailand. Suggestions for operators are as follows: Operators need to improve their public relations work. They need to use technology in public relations such as the internet. Management standards must be improved. Souvenir and local products shops should be arranged in the compound. Product pricing must be set accordingly. They need to join hands to help each other. Quality of the business operation should be raised to meet the standards. Educational measures to reduce the impact caused by tourism on the community such as efforts to reduce energy consumption.

Keywords: Homestay, lodging business, management, standard.

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Authors: Wondwosen Teshome B.

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Since 1991 Ethiopia has officially adopted multi-party democracy. At present, there are 89 registered political parties in the country. Though political parties play an important role in the functioning of a democratic government, how to fund them is an issue of major concern. Political parties and individual candidates running for political office have to raise funds for election campaigns, and to survive as political candidates. The aim of this paper is to examine party funding problems in Africa by taking the case of Ethiopia as an example. The paper also evaluates the motives of local and international donors in giving financial and material support to political parties in emerging democracies and assesses the merits and de-merits of their donations.

Keywords: Africa, State funding, Ethiopia, Political finance, Political party, Western donors.

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Authors: Edlira Donefski, Tina Donefski, Lorenc Ekonomi

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Edgeworth Approximation, Bootstrap and Monte Carlo Simulations have a considerable impact on the achieving certain results related to different problems taken into study. In our paper, we have treated a financial case related to the effect that have the components of a Cash-Flow of one of the most successful businesses in the world, as the financial activity, operational activity and investing activity to the cash and cash equivalents at the end of the three-months period. To have a better view of this case we have created a Vector Autoregression model, and after that we have generated the impulse responses in the terms of Asymptotic Analysis (Edgeworth Approximation), Monte Carlo Simulations and Residual Bootstrap based on the standard errors of every series created. The generated results consisted of the common tendencies for the three methods applied, that consequently verified the advantage of the three methods in the optimization of the model that contains many variants.

Keywords: Autoregression, Bootstrap, Edgeworth Expansion, Monte Carlo Method.

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Authors: Liming Chen, Baoxin Xiu, Zhaoyun Ding, Bin Liu, Xianqiang Zhu

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In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.

Keywords: Financial ontology, steel company, supply chain, ontology reasoning.

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Authors: Chokri Slim

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The neural network's performance can be measured by efficiency and accuracy. The major disadvantages of neural network approach are that the generalization capability of neural networks is often significantly low, and it may take a very long time to tune the weights in the net to generate an accurate model for a highly complex and nonlinear systems. This paper presents a novel Neuro-fuzzy architecture based on Extended Kalman filter. To test the performance and applicability of the proposed neuro-fuzzy model, simulation study of nonlinear complex dynamic system is carried out. The proposed method can be applied to an on-line incremental adaptive learning for the prediction of financial time series. A benchmark case studie is used to demonstrate that the proposed model is a superior neuro-fuzzy modeling technique.

Keywords: Neuro-fuzzy, Extended Kalman filter, nonlinear systems, financial time series.

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Authors: Oladele K. Ogunsola, Kazeem A. Osuolale, Akintayo O. Ojo

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Many factors influence the educational outcome of students. Some of these have been studied by researchers with many emphasizing the role of students, schools, governments, peer groups and so on. More often than not, some of these factors influencing the academic achievement of the students have been traced back to parents and family; being the primary platform on which learning not only begins but is nurtured, encouraged and developed which later transforms to the performance of the students. This study not only explores parental and related factors that predict academic achievement through the review of relevant literatures but also, investigates the influence of parental background on the academic achievement of senior secondary school students in Ibadan North Local Government Area of Oyo State, Nigeria. As one of the criteria of the quality of education, students’ academic achievement was investigated because it is most often cited as an indicator of school effectiveness by school authorities and educationists. The data collection was done through interviews and use of well-structured questionnaires administered to one hundred students (100) within the target local government. This was statistically analysed and the result showed that parents’ attitudes towards their children’s education had significant effect(s) on students’ self-reporting of academic achievement. However, such factors as parental education and socioeconomic background had no significant relationship with the students’ self-reporting of academic achievement.

Keywords: Academic attainment, Parental factors, students, Oyo State, Nigeria.

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Authors: Alisha Fisher

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Sex trafficking is a worldwide crisis that requires trauma-informed and survivor-centered media attention to accurate disseminate information. Much of the previous literature of sex trafficking tends to focus on frequency of incidents, intervention, and support strategies for survivors, with few of them looking to how the media is conducting their reporting on sex trafficking cases to the public. Utilizing data of reports from the media of cases of sex trafficking in the two Canadian provinces with the highest cases of sex trafficking, Ontario and Nova Scotia, we sought to analyze the similarities and differences of how sex trafficking cases were being reported. A total of 20 articles were examined, with 10 based within the province of Ontario and the remaining 10 from the province of Nova Scotia. We coded in two processes, first, who the article was about, and second, the framing and content inclusion. The results suggest that there is high usage, and reliance of voices and images of authority, with male people of color being shown as the perpetrators, and white women being shown as the survivors. These findings can aid in the expansion of trauma-informed, survivor-centered media literacy of reports of sex trafficking to provide accurate insights, and further developing robust methods to intersectional approaches to reporting cases of sex trafficking.

Keywords: Sex Trafficking, media coverage, canada sex trafficking, content analysis.

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Authors: M. R. Bhuiyan, S. M. M. Hossain, M. Z. Islam

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Autism Spectrum Disorder (ASD) is the fastest growing serious developmental disorder characterized by social deficits, communicative difficulties, and repetitive behaviors. ASD is an emerging public health issue globally which is associated with huge financial burden to the family, community and the nation. The aim of this study was to assess the financial burden of family for the children with Autism spectrum Disorder. This cross-sectional study was carried out from July 2015 to June 2016 among 154 children with ASD to assess the financial burden of family. Data were collected by face-to-face interview with semi-structured questionnaire following systematic random sampling technique. Majority (73.4%) children were male and mean (±SD) age was 6.66 ± 2.97 years. Most (88.8%) of the children were from urban areas with average monthly family income Tk. 41785.71±23936.45. Average monthly direct cost of the children was Tk.17656.49 ± 9984.35, while indirect cost was Tk. 13462.90 ± 9713.54 and total treatment cost was Tk. 23076.62 ± 15341.09. Special education cost (Tk. 4871.00), cost of therapy (Tk. 4124.07) and travel cost (Tk. 3988.31) were the major types of direct cost, while loss of income (Tk.14570.18) was the chief indirect cost incurred by the families. The study found that majority (59.8%) of the children attended special schools were incurred Tk.20001-78700 as total treatment cost, which were statistically significant (p<0.001). Again, families with higher monthly family income incurred higher treatment cost (r=0.526, p<0.05). Difference between mean direct and indirect cost was found significant (t=4.190, df=61, p<0.001). According to the analysis of variance, mean difference of father’s educational status among direct cost (F=10.337, p<0.001) and total treatment cost (F=7.841, p<0.001), which were statistically significant. The study revealed that maximum children with ASD were under five years, three-fourth were male. According to monthly family income, maximum family were in middle class. The study recommends cost effective interventions and financial safety-net measures to reduce the financial burden of families for the children with ASD.

Keywords: Autism spectrum disorder, financial burden, direct cost, indirect cost, Special education.

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Authors: Leila Torkaman, Nasser Ghassembaglou

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Significant quota of Municipal Electrical Energy consumption is related to Decentralized Air Conditioning which is mostly provided by evaporative coolers. So the aim is to optimize design of air conditioners to increase their efficiencies. To achieve this goal, results of practical standardized tests for 40 evaporative coolers in different types collected and simultaneously results for same coolers based on one of EER (Energy Efficiency Ratio) modeling styles are figured out. By comparing experimental results of different coolers standardized tests with modeling results, preciseness of used model is assessed and after comparing gained preciseness with international standards based on EER for cooling capacity, aeration, and also electrical energy consumption, energy label from A (most effective) to G (less effective) is classified; finally needed methods to optimize energy consumption and coolers’ classification are provided.

Keywords: Cooler, EER, Energy Label, Optimization.

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Authors: Irfan N. Umar, Yong Su-Lyn

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The purpose of this research is to determine the knowledge and skills possessed by instructional design (ID) practitioners in Malaysia. As ID is a relatively new field in the country and there seems to be an absence of any studies on its community of practice, the main objective of this research is to discover the tasks and activities performed by ID practitioners in educational and corporate organizations as suggested by the International Board of Standards for Training, Performance and Instruction. This includes finding out the ID models applied in the course of their work. This research also attempts to identify the barriers and issues as to why some ID tasks and activities are rarely or never conducted. The methodology employed in this descriptive study was a survey questionnaire sent to 30 instructional designers nationwide. The results showed that majority of the tasks and activities are carried out frequently enough but omissions do occur due to reasons such as it being out of job scope, the decision was already made at a higher level, and the lack of knowledge and skills. Further investigations of a qualitative manner should be conducted to achieve a more in-depth understanding of ID practices in Malaysia

Keywords: instructional design, ID competencies, ID models, IBSTPI

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Authors: Sanghoon Park, Ki-Jin Kim, Kwang-Ho Ahn, Hyeon-Woo Lee

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It is very effective way to utilize a very wide tunable filter in co-existing multi-standards wireless communications environment. Especially, as the long term evolution (LTE) communication era has come, the multi-band coverage is one of the important features required for the RF components. In this paper, we present the frequency conversion technique, and so generate two types of RF filters which are specially designed for the superb tunable ability to support multiple wireless communication standards. With the help of a complex mixing structure, the inherent image signal is suppressed. The RF band-pass filter (BPF) and notch filter achieve 1.8dB and 1.6dB insertion losses and 18 dB and 17 dB attenuations, respectively. The quality factor show greater than 30.

Keywords: RF filters, interference, wideband, tunable, channel selection, complex mixing, balanced mixer.

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Authors: M. Izvercianu, L. Ivascu

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This paper presents an innovative computer system that contributes to sustainable development of the enterprise. The research refers to a rethinking of traditional systems of collaboration and risk assessment, present in any organization, leading to a sustainable enterprise. This concept integrates emerging tools that allow the implementation and exploitation of the collective intelligence of the enterprise, allowing the exchange of contextual, agile and simplified information, and collaboration with networks of customers and partners in an environment where risks are controlled. Risk assessment is done in a systemic way: the enterprise as the system compared to the contained departments and the enterprise as a subsystem compared to: families of international standards and sustainability-s responsibilities. The enterprise, in this systemic vision, responds to the requirements that any existing system to operate continuously in an indefinite future without reaching key resource depletion. The research is done by integrating collaborative science, engineering, management, psychology, obtaining thus a cornerstone of sustainable development of the enterprise.

Keywords: Enterprise 2.0, ISO, Risk management, Sustainable development

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Authors: S. S. Bhandari, N. Chakpitak, K. Meksamoot, T. Chandarasupsang

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Under the limitation of investment budget, a utility company is required to maximize the utilization of their existing assets during their life cycle satisfying both engineering and financial requirements. However, utility does not have knowledge about the status of each asset in the portfolio neither in terms of technical nor financial values. This paper presents a knowledge based model for the utility companies in order to make an optimal decision on power transformer with their utilization. CommonKADS methodology, a structured development for knowledge and expertise representation, is utilized for designing and developing knowledge based model. A case study of One MVA power transformer of Nepal Electricity Authority is presented. The results show that the reusable knowledge can be categorized, modeled and utilized within the utility company using the proposed methodologies. Moreover, the results depict that utility company can achieve both engineering and financial benefits from its utilization.

Keywords: CommonKADS, Knowledge Engineering, LifeCycle Management, Power Transformer.

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Authors: Emmanuel Selase Asamoah, Miloslava Chovancová

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When choosing marketing strategies for international markets, one of the factors that should be considered is the cultural differences that exist among consumers in different countries. If the branding strategy has to be contextual and in tune with the culture, then the brand positioning variables has to interact, adapt and respond to the cultural variables in which the brand is operating. This study provides an overview of the relevance of culture in the development of an effective branding strategy in the international business environment. Hence, the main objective of this study is to provide a managerial framework for developing strategies for cross cultural brand management. The framework is useful because it incorporates the variables that are important in the competitiveness of fast food enterprises irrespective of their size. It provides practical, proactive and result oriented analysis that will help fast food firms augment their strategies in the international fast food markets. The proposed framework will enable managers understand the intricacies involved in branding in the global fast food industry and decrease the use of 'trial and error' when entering into unfamiliar markets.

Keywords: culture, branding strategy, marketing mix, mass customization, standardization

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Authors: S. Mahalakshmi, B. Senthil Arasu

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As per the recent changes happening in the global policies, climate related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate related changes can happen often and lead to risk and lot of uncertainty, but need to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed, so that the financial institutions can plan to mitigate it. Climate related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and others. And the models required to compute this have to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out to the suggestion that the climate related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries, instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, we present a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios, and how the different transition risks affect the risk associated with the different parties. This research paper delves on the topic of increase in concentration of greenhouse gases, that in turn causing global warming. It then considers the various scenarios of having the different risk drivers impacting credit and market risk of an institution, by understanding the transmission channels, and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II capital calculations, and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.

Keywords: Capital calculation, climate risk, credit risk, pillar II risk, scenario modeling.

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Authors: Feng-Tsai Weng, Dong- Syuan Cai, Tsochu-Lin

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A vehicle gasoline engine converts gasoline into power so that the car can move, and lubricants are important for engines and also gear boxes. Manufacturers have produced numbers of engine oils, and gear oils for engines and gear boxes to SAE International Standards. Some products not only can improve the lubrication of both the engine and gear box but also can raise power of vehicle this can be easily seen in the advertisement declared by the manufacturers. To observe the lubrication performance, a multi-leveled (heavy duty) gear oil was added to a gasoline engine as the oil in the vehicle. The oil was checked at about every 10,000 kilometers. The engine was detailed disassembled, cleaned, and parts were measured. The wear of components of the engine parts were checked and recorded finally. Based on the experiment results, some gear oil seems possible to be used as engine oil in particular vehicles. Vehicle owners should change oil periodically in about every 6,000 miles (or 10,000 kilometers). Used car owners may change engine oil in even longer distance.

Keywords: Multi-level gear oil, engine oil, viscosity, abrasion.

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Authors: Bekim Avdiaj

Abstract:

Everyday life is and will be influenced depending on the developments that society undergoes throughout the history. Particularly, countries undergoing transition from one system to another sustain the greatest impact in trying to embrace the modern system. Kosovo society had the fortune to experience a change, which began in late 1999 to continue up to date. One of the 'developments' of the time with the evolution in Kosovo society was the transition from the traditional education system into the modern one. This transformation began immediately after the war, to continue even today. It was started by internationals, which governed and administered Kosovo society, including education. There was a great 'evolution', because almost the entire system was 'changed'. Among other things, for the first time it was enabled the opening of private schools from the lowest level up to the colleges and universities. This paper will address: how much was ready the society to embrace such a 'cultural' change in education, respectively, how much were prepared teachers for such changes; as it was actually thought to be a modern education system, how much was it according to international standards; what are the results and current situation in Kosovo education.

Keywords: Education, evolution, reform, transformation.

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Authors: Arellano Karina, Diego Avila-Pesántez, Leticia Vaca-Cárdenas, Alberto Arellano, Carmen Mantilla

Abstract:

Nowadays, security threats in Voice over IP (VoIP) systems are an essential and latent concern for people in charge of security in a corporate network, because, every day, new Denial-of-Service (DoS) attacks are developed. These affect the business continuity of an organization, regarding confidentiality, availability, and integrity of services, causing frequent losses of both information and money. The purpose of this study is to establish the necessary measures to mitigate DoS threats, which affect the availability of VoIP systems, based on the Session Initiation Protocol (SIP). A Security Model called MS-DoS-SIP is proposed, which is based on two approaches. The first one analyzes the recommendations of international security standards. The second approach takes into account weaknesses and threats. The implementation of this model in a VoIP simulated system allowed to minimize the present vulnerabilities in 92% and increase the availability time of the VoIP service into an organization.

Keywords: Denial-of-service SIP attacks, MS-DoS-SIP, security model, VoIP-SIP vulnerabilities.

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Authors: Francis Jegede

Abstract:

This paper examines essential issues relating to the rise and nature of violent extremism involving non-state actors and groups in the early 21^st century. The global trends in terrorism and violent extremism are examined in relation to Western governments’ counter terror operations. The paper analyses the existing legal framework for fighting violent extremism and terrorism and highlights the inherent limitations of the current International Law of War in dealing with the growing challenges posed by terrorists and violent extremist groups. The paper discusses how terrorist groups use civilians, women and children as tools and weapon of war to fuel their campaign of terror and suggests ways in which the international community could deal with the challenge of fighting terrorist groups without putting civilians, women and children in harm way. The paper emphasises the need to uphold human rights values and respect for the law of war in our response to global terrorism. The paper poses the question as to whether the current legal framework for dealing with terrorist groups is sufficient without contravening the essential provisions and ethos of the International Law of War and Human Rights. While the paper explains how terrorist groups flagrantly disregard the rule of law and disrespect human rights in their campaign of terror, it also notes instances in which the current Western strategy in fighting terrorism may be viewed or considered as conflicting with human rights and international law.

Keywords: Terrorism, law of war, international law, violent extremism.

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