Search results for: International Financial Reporting Standards

Authors: Osama Terra, Mariesa Nel, Hatem Hussein

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Calibration of Optical Time Domain Reflectometer (OTDR) has a crucial role for the accurate determination of fault locations and the accurate calculation of loss budget of long-haul optical fibre links during installation and repair. A comparison has been made between the Egyptian National Institute for Standards (NIS-Egypt) and the National Metrology institute of South Africa (NMISA-South Africa) for the calibration of an OTDR. The distance and the attenuation scales of a transfer OTDR have been calibrated by both institutes using their standards according to the standard IEC 61746-1 (2009). The results of this comparison have been compiled in this report.

Keywords: OTDR calibration, recirculating loop, concatenated method, standard fibre.

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Authors: K. P. Jain, J. F. J. Pruyn, J. J. Hopman

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In May 2009, the International Maritime Organization (IMO) adopted the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships to address the growing concerns about the environmental, occupational health and safety risks related to ship recycling. The aim of the Hong Kong Convention is to provide a legally binding instrument which ensures that the process of ship recycling does not pose risks to human health, safety and to the environment. In this paper, critical analysis of the Hong Kong Convention has been carried out in order to study the effectiveness of the Convention to meet its objectives. The Convention has been studied in detail including its background, main features, major stakeholders, strengths and weaknesses. The Convention, though having several deficiencies, is a major breakthrough in not only recognizing but also dealing with the ill-practices associated with ship recycling.

Keywords: Hong Kong Convention, IMO, Ship breaking, Ship recycling.

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Authors: Shashwat Gangwal

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This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: Portfolio management, Bitcoin, optimization, Sharpe ratio.

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Authors: F. Mehran

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In this paper, we study a class of serially concatenated block codes (SCBC) based on matrix interleavers, to be employed in fixed wireless communication systems. The performances of SCBC¬coded systems are investigated under various interleaver dimensions. Numerical results reveal that the matrix interleaver could be a competitive candidate over conventional block interleaver for frame lengths of 200 bits; hence, the SCBC coding based on matrix interleaver is a promising technique to be employed for speech transmission applications in many international standards such as pan-European Global System for Mobile communications (GSM), Digital Cellular Systems (DCS) 1800, and Joint Detection Code Division Multiple Access (JD-CDMA) mobile radio systems, where the speech frame contains around 200 bits.

Keywords: Matrix Interleaver, serial concatenated block codes (SCBC), turbo codes, wireless communications.

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Authors: Nino Abesadze, Marine Mindorashvili, Nino Paresashvili

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The main purpose of the article is to make complex statistical analysis of tourist expenses of foreign visitors. We used mixed technique of selection that implies rules of random and proportional selection. Computer software SPSS was used to compute statistical data for corresponding analysis. Corresponding methodology of tourism statistics was implemented according to international standards. Important information was collected and grouped from the major Georgian airports. Techniques of statistical observation were prepared. A representative population of foreign visitors and a rule of selection of respondents were determined. We have a trend of growth of tourist numbers and share of tourists from post-soviet countries constantly increases. Level of satisfaction with tourist facilities and quality of service has grown, but still we have a problem of disparity between quality of service and prices. The design of tourist expenses of foreign visitors is diverse; competitiveness of tourist products of Georgian tourist companies is higher.

Keywords: Tourist, expenses, methods, statistics, analysis.

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Authors: Melissa C. LaDuke

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This systematic literature review sought to explore the dimensions of diversity that can affect classroom learning. This review is significant as it can aid educators in reaching more of their diverse student population and creating supportive classrooms for teachers and students. For this study, peer-reviewed articles were found and compiled using Google Scholar. Key terms used in the search include student individuality, classroom equality, student development, teacher development, and teacher individuality. Relevant educational standards such as Common Core and Partnership for the 21st Century were also included as part of this review. Student and teacher individuality and equality is discussed as well as methods to grow both within educational settings. Embracing student and teacher individuality was found to be key as it may affect how each person interacts with given information. One method to grow individuality and equality in educational settings included drafting and employing revised teaching standards which include various Common Core and US State standards. Another was to use educational theories such as constructivism, cognitive learning, and Experiential Learning Theory. However, barriers to growing individuality, such as not acknowledging differences in a population’s dimensions of diversity, still exist. Studies found preserving the dimensions of diversity owned by both teachers and students yielded more positive and beneficial classroom experiences.

Keywords: Classroom equality, student development, student individuality, teacher development, teacher individuality.

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Authors: Muhammad Waqar, Touqir Ahmad Afridi, Quratulain Soomro

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Radiation is a ghost causing unimaginable physical damage, but its harm is not inevitable. The panic created by previously reported worst-case scenarios i.e., Three Mile Island, Fukushima, Chernobyl, has adversely affected the attitude of radiation workers towards the profession. The psychological effect of radiation-related catastrophes creates an invisible barrier that reduces the efficiency of radiation workers. Careful handling and proper monitoring of radiation decreases the hazards of radiation and proves that the psychological impairment of radiation is myriad fold adverse than its physiological damage. Thermoluminescent Dosimeter (TLD) badges with unique identity numbers were provided to 36 radiation workers for a period of one year (2021). TLDs were read quarterly, and doses were recorded for every radiation worker. Annual doses were recorded and compared with national and international standards. Moreover, the period for which an individual worker is expected to reach one year limit of 20 mSv was also calculated. The highest radiation dose for the radiation worker in 2021 was found at 3.2 mSv, which was 16% of the permissible annual dose limit. The average occupational radiation doses ranged from 1.0 mSv to 3.20 mSv. 64% of the employees did not exceed the 10% of the annual limit, receiving less than 2 mSv. The least time for 20 mSv completion was found 6.25 years for the hot-lab technician. As a whole, the 20 mSv completion period ranged from 6.25 to 20 years. We concluded that the annual professional radiation doses were well within the permissible limits of Pakistan Nuclear Regulatory Authority (PNRA) and International Commission on Radiological Protection (ICRP). The fear of radiation is unnecessary and it creates reluctance towards performing their assigned duties and it is also not favorable for the institute. It must be abolished through education and training sessions.

Keywords: TLD, thermoluminescent dosimeter, psychological impact, radiation dose, annual dose limit, PNRA, ICRP, IAEA.

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Authors: Terezie Bartusková, Jitka Baňařová, Zuzana Kusněřová

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Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future values of financial indicators of the company with regard to the factor, which influence these indicators.

Keywords: Planning of Potentials, Planning of Strategic Objectives, Portfolio Planning, Significant Factors, Strategic Planning.

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Authors: S. Sadallah

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In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: Management, software, optimal, greedy algorithm, graph-diagram.

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Authors: Perumal, V., Sharji, E. A

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This paper reports a case study on how a conceptual and analytical thinking approach was used in Art and Design Department at Multimedia University (Malaysia) in addressing the issues of one nation and its impact in the society through artworks. The art project was designed for students to increase the know-how and develop creative thinking in design and communication. Goals of the design project were: (1) to develop creative thinking in design and communication, (2) to increase student understanding on the process of problem solving for design work, and (3) to use design elements and principles to generate interest, attention and emotional responses. An exhibition entitled "One Nation" was showcased to local and international viewers consisting of the general public, professionals, academics, artists and students. Findings indicate that the project supported several visual art standards, as well as generated awareness in the society. This project may be of interest to current and future art educators and others interested in the potential of utilizing global issues as content for art, community and environment studies for the purpose of educational art.

Keywords: Conceptual and analytical thinking, Visual arts, Communication, Art & design.

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Authors: Ana Mouro, Ana Ramalheira

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Since 1989, with the Fall of the Berlin Wall, Germany has undergone a profound restructuring political and economic process. When the Euro Crisis broke out, Germany was no longer the “sick man” of Europe. Instead, it had recovered its dominance as the strongest and wealthiest economy within the European Union. With the European Debt Crisis, that has been taking place in the European Union since the end of 2009, Germany´s Chancellor Angela Merkel has gained the power of deciding, so to say, on the fate of the debtor nations, but she neither stands for binding German commitments, nor refuses assistance. A debate on whether Merkel’s hesitation has been deliberated and used as a means of coercion has arisen on international print media, and the Portuguese Press has been no exception. This study, which was conducted by using news reporting, opinion articles, interviews and editorials, published in the Portuguese weekly Expresso and the daily Público, from 2008 to 2015, tries to show how Merkel’s hesitation, depicted in the press by the term “Merkiavelli”, was perceived in Portugal, a country that had to embrace the austerity measures, imposed by the European Central Bank, but defined under Angela Merkel´s leading role.

Keywords: Euro crisis, “Merkiavelli”, cultural studies, Portuguese quality press.

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Authors: Tomas Cechura, Michal Simon

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This paper describes a proposal for cost calculation of warehouse processes and its usage for setting standards for performance evaluation. One of the most common options of monitoring process performance is benchmarking. The typical outcome is whether the monitored object is better or worse than an average or standard. Traditional approaches, however, cannot find any specific opportunities to improve performance or eliminate inefficiencies in processes. Higher process efficiency can be achieved for example by cost reduction assuming that the same output is generated. However, costs can be reduced only if we know their structure and we are able to calculate them accurately. In the warehouse process area it is rather difficult because in most cases we have available only aggregated values with low explanatory ability. The aim of this paper is to create a suitable method for calculating the storage costs. At the end is shown a practical example of process calculation.

Keywords: Calculation, Costs, Performance, Process, Warehouse.

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Authors: Siripen Yiamjanya, Kevin Wongleedee

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This research paper aims to identify travel motivation by push and pull factors that affected decision making of international tourists in selecting Thailand as their destination choice. A total of 200 international tourists who traveled to Thailand during January and February, 2014 were used as the sample in this study. A questionnaire was employed as a tool in collecting the data, conducted in Bangkok. The list consisted of 30 attributes representing both psychological factors as “push- based factors” and destination factors as “pull-based factors”. Mean and standard deviation were used in order to find the top ten travel motives that were important determinants in the respondents’ decision making process to select Thailand as their destination choice. The finding revealed the top ten travel motivations influencing international tourists to select Thailand as their destination choice included [i] getting experience in foreign land; [ii] Thai food; [iii] learning new culture; [iv] relaxing in foreign land; [v] wanting to learn new things; [vi] being interested in Thai culture, and traditional markets; [vii] escaping from same daily life; [viii] enjoying activities; [ix] adventure; and [x] good weather. Classification of push- based and pull- based motives suggested that getting experience in foreign land was the most important push motive for international tourists to travel, while Thai food portrayed its highest significance as pull motive. Discussion and suggestions were also made for tourism industry of Thailand.

Keywords: Decision Making, Destination Choice, International Tourist, Pull Factor, Push Factor, Thailand, Travel Motivation.

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Authors: Dragan Vasiljevic, Ana Horvat

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Starting from the basic pillars of the supportability analysis this paper queries its characteristics in LCI (Life Cycle Integration) environment. The research methodology contents a review of modern logistics engineering literature with the objective to collect and synthesize the knowledge relating to standards of supportability design in e-logistics environment. The results show that LCI framework has properties which are in fully compatibility with the requirement of simultaneous logistics support and productservice bundle design. The proposed approach is a contribution to the more comprehensive and efficient supportability design process. Also, contributions are reflected through a greater consistency of collected data, automated creation of reports suitable for different analysis, as well as the possibility of their customization according with customer needs. In addition to this, convenience of this approach is its practical use in real time. In a broader sense, LCI allows integration of enterprises on a worldwide basis facilitating electronic business.

Keywords: E-logistics, integrated product development, standards, supportability analysis.

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Authors: Nur Adilah Md Zain, Mohd Salehuddin Mohd Zahari, Mohd Hafiz Hanafiah, Muhammad Izzat Zulkifly

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This paper empirically investigates the relationship between Sabah state core tourism products and its destination image. Through a descriptive design using a quantitative method with a self-reported and self-administered questionnaire, this research surveyed the individual international tourists who had visited Sabah and experienced the state’s core tourism products. The research findings clearly indicate that Sabah, one of the states in Malaysia has a lot of valuable resources in the eyes of the international tourists. Interestingly, it was found that Sabah’s core tourism products namely unique marine resources, various nature attractions and cultural diversities have undoubtedly contributed to the state’s tourism image. Good feedbacks and the promising insights from the international tourists’ point of view offer varying consequences, repercussion, and implication to the state government and the relevant authorities. Collaboration and cooperation between all responsible authorities are therefore crucial in strengthening the “total tourism experience” among the international tourists in this state.

Keywords: Tourism core products, marine, cultural, nature, destination image, Sabah.

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Authors: Bella Llego

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This research aims to study on “ASEAN Citizenship in the Internationalization of Thai Higher Education.” The purposes of this research are (1) to examine the Thai academics and scholars defined in the concept of internationalization of higher education, (2) to know how Thailand tries to fulfill its internationalization on education goal, (3) to find out the advantages and disadvantages of Thailand hub for higher education in Asia. Sequential mixed methods, qualitative and quantitative research methods were utilized to gather the data collected. By using a qualitative method (individual interviews from key Thai administrators and educators in the international higher education sector), a quantitative method (survey) was utilized to draw upon and to elaborate the recurring themes present during the interviews. The study found that many aspects of Thai international higher education programs received heavy influence from both the American and European higher education systems. Thailand’s role and leadership in the creation and launch of the ASEAN Economic Community (AEC) by 2015 gives its unique context for its internationalization efforts. English is being designated as the language of all Thai international programs; its influence further strengthened being the current language of academia, international business, and the internet, having global influence.

Keywords: ASEAN Citizenship, Internationalization, Thai Higher Education.

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Authors: Victoria S. Scarratt

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Couples involved in age-gap relationships generally evoke negative stereotypes, opinions, and social disapproval. This research seeks to examine whether financial disparities in age-discrepant relationships cause negative attitudes in study participants. It was hypothesized that an age-gap couple (29-year difference) would receive a greater degree of societal disapproval when the couple also had a large salary-gap compared to a similarly aged couple (1-year difference) with a salary-gap. Additionally, there would be no significant difference between age-gap couples without a salary-gap compared to a similarly aged couple without a salary gap. To test the hypothesis, participants were given one of four scenarios regarding a couple in a romantic relationship. Then they were asked to respond to nine Likert scale questions. Results indicated that participants perceived age-gap relationships with a salary disparity to be less equitable in regard to a power imbalance between the couple and the financial and general gain that one partner will receive. A significant interaction was also detected for evoking feelings of disgust in participants, and how morally correct it is for the couple to continue their relationship.

Keywords: Age-gap relationships, financial discrepancies, love, relationships, societal stigmas.

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Authors: Bita Mashayekhi, Marjan Fayyazi, Parisa Sefati

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Audit quality is a popular topic in accounting and auditing research because recent decades’ financial crises reduce the reliability of financial reports to public investors and cause significant doubt about the audit profession. Therefore, doing research to identify effective factors in improving audit quality is necessary for bringing back public investors’ trust to financial statements as well as audit reports. In this study, we explore the relationship between audit rotation and audit quality. For this purpose, we employ the Duff (2009) model of audit quality to measure audit quality and use a questionnaire survey of 27 audit service quality attributes. Our results show that there is a negative relationship between auditor’s rotation and audit quality as we consider the auditor’s reputation, capability, assurance, experience, and responsiveness as surrogates for audit quality. There is no evidence for verifying a same relationship when we use the auditor’s independence and expertise for measuring audit quality.

Keywords: Audit quality, auditor’s rotation, reputation, capability, assurance, experience, responsiveness, independence, expertise.

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Authors: V. Balanica, W. I. D. Rae, M. Caramihai, S. Acho, C. P. Herbst

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Mammographic images and data analysis to facilitate modelling or computer aided diagnostic (CAD) software development should best be done using a common database that can handle various mammographic image file formats and relate these to other patient information. This would optimize the use of the data as both primary reporting and enhanced information extraction of research data could be performed from the single dataset. One desired improvement is the integration of DICOM file header information into the database, as an efficient and reliable source of supplementary patient information intrinsically available in the images. The purpose of this paper was to design a suitable database to link and integrate different types of image files and gather common information that can be further used for research purposes. An interface was developed for accessing, adding, updating, modifying and extracting data from the common database, enhancing the future possible application of the data in CAD processing. Technically, future developments envisaged include the creation of an advanced search function to selects image files based on descriptor combinations. Results can be further used for specific CAD processing and other research. Design of a user friendly configuration utility for importing of the required fields from the DICOM files must be done.

Keywords: Database Integration, Mammogram Classification, Tumour Classification, Computer Aided Diagnosis.

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Authors: Giorgi Gaprindashvili

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One of the best examples, in evolution of the public procurement, from post-soviet countries are reforms carried out in Georgia, which brought them close to international standards of procurement. In Georgia, public procurement legislation started functioning short after gaining independence. The reform has passed several stages and came in the form as it is today. It should also be noted, that countries with economy in transition, including Georgia, implemented all the reforms in public procurement based on recommendations and support of World Bank, the United Nations and other international organizations. The aim of first adopted law was regulation of the procurement process of budget-organizations, transparency and creation of competitive environment for private companies to access state funds legally. The priorities were identified quite clearly in the wording of the law, but operation/function of this law could not be reached on its level, because of some objective and subjective reasons. The high level of corruption in all levels of governance can be considered as a main obstacle reason and of course, it is natural, that it had direct impact on the procurement process, as well as on transparency and rational use of state funds. These circumstances were the reasons that reforms in this sphere continued, to improve procurement process, in particular, the first wave of reforms began after several years. Public procurement agency carried out reform with World Bank with main purpose of smartening the procurement legislation and its harmonization with international treaties and agreements. Also with the support of World Bank various activities were carried out to raise awareness of participants involved in procurement system. Further major changes in the legislation were filed bit later, which was also directed towards the improvement and smarten of the procurement process. The third wave of the reform more or less guaranteed the transparency of the procurement process, which later became the basis for the rational spending of state funds. The reform of the procurement system completely changed the procedures. Carried out reform in Georgia resulted in introducing new electronic tendering system, which benefit the transparency of the process, after this became the basis for the further development of a competitive environment, which become a prerequisite for the state rational spending. Increased number of supplier organizations participating in the procurement process resulted in reduction of the estimated cost and the actual cost. Assessment of the reforms in Georgia in the field of public procurement can be concluded, that proper regulation of the sector and relevant policy may proceed to rational and transparent spending of the budget from country’s state institutions. Also, the business sector has the opportunity to work in competitive market conditions and to make a preliminary analysis, which is a prerequisite for future strategy and development.

Keywords: Public Administration, Public Procurement, Reforms, Transparency.

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Authors: Kung-Jen Tu

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Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: Design evaluation method, management fund, operational and capital expenses, rental apartment buildings.

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Authors: Maciej Mitręga

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This paper contributes to our knowledge about buyerseller relations by identifying barriers and conflict situations associated with maintaining and developing durable business relationships by small companies. The contribution of prior studies with regard to negative aspects of marketing relationships is presented in the first section. The international research results are discussed with regard to the existing conceptualizations and main research implications identified at the end.

Keywords: Relationship marketing, barriers, conflict, SME, international research.

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Authors: S. M. Tavakoli Sani, M. Sabbet Moghadam, Y. Khorram Farhadi, Iraj Rezayi Nejad

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The concept of national security in Iran is a permanently effective factor in acceptance or rejection of many international obligations. These obligations had been defined according to the type of legislation of Iran in many aspects. Therefore, there are several treaties at international level which requires Iran’s security to come in contact with obligations in these treaties in a way that an obstacle to join to them and their passage in parliament. This issue is a typical category which every country pays attention to be accepted in treaties or to include their national security in that treaties and also they can see the related treaties from this perspective, but this issue that 'what is the concept of Iran’s national security', and 'To what extent it is changed in recent years, especially after Islamic Revolution' are important issues that can be criticized. Thus, this study is trying to assess singed treaties from the perspective of Iran’s national security according of the true meaning of treaty and to investigate how the international treaties may be in conflict with Iran’s national security.

Keywords: Treaties, national security, Iran, Islamic Revolution.

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Authors: I. Derek Kaka’an, P. Smolianov, D. Koh Choon Lian, S. Dion, C. Schoen, J. Norberg

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This study was designed to examine mass participation and elite football performance in Nigeria with reference to advance international football management practices. Over 200 sources of literature on sport delivery systems were analyzed to construct a globally applicable model of elite football integrated with mass participation, comprising of the following three levels: macro- (socio-economic, cultural, legislative, and organizational), meso- (infrastructures, personnel, and services enabling sport programs) and micro-level (operations, processes, and methodologies for development of individual athletes). The model has received scholarly validation and showed to be a framework for program analysis that is not culturally bound. The Smolianov and Zakus model has been employed for further understanding of sport systems such as US soccer, US Rugby, swimming, tennis, and volleyball as well as Russian and Dutch swimming. A questionnaire was developed using the above-mentioned model. Survey questions were validated by 12 experts including academicians, executives from sport governing bodies, football coaches, and administrators. To identify best practices and determine areas for improvement of football in Nigeria, 120 coaches completed the questionnaire. Useful exemplars and possible improvements were further identified through semi-structured discussions with 10 Nigerian football administrators and experts. Finally, content analysis of Nigeria Football Federation’s website and organizational documentation was conducted. This paper focuses on the meso-level of Nigerian football delivery, particularly infrastructures, personnel, and services enabling sport programs. This includes training centers, competition systems, and intellectual services. Results identified remarkable achievements coupled with great potential to further develop football in different types of public and private organizations in Nigeria. These include: assimilating football competitions with other cultural and educational activities, providing favorable conditions for employees of all possible organizations to partake and help in managing football programs and events, providing football coaching integrated with counseling for prevention of antisocial conduct, and improving cooperation between football programs and organizations for peace-making and advancement of international relations, tourism, and socio-economic development. Accurate reporting of the sports programs from the media should be encouraged through staff training for better awareness of various events. The systematic integration of these meso-level practices into the balanced development of mass and high-performance football will contribute to international sport success as well as national health, education, and social harmony.

Keywords: Football, high performance, mass participation, Nigeria, sport development.

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

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Authors: H. Florianová, J. Nešleha

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Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: Capital markets, financial derivatives, investors' behavior, regulation.

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Authors: Şule Turhan, Özlem Turan

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Permanence in the international markets for many global companies is about being known as having effective logistics which targets customer satisfaction management and lower costs. Under competitive conditions, the necessity of providing the products to customers quickly and on time for the companies which constantly aim to improve their profitability increased the strategic importance of the logistics concept. Food logistic is one of the most difficult areas in logistics. In the process from manufacturer to final consumer, quality and hygiene standards must be provided constantly. In food logistics, reliable and extensive service network has great importance and on time delivery is the target. Developing logistics industry provide the supply of foods in the country and the development of export markets more quickly and has an important role in providing added value to the country's economy. Turkey that creates a bridge between the east and the west is an attractive market for logistics companies. In this study, by examining both the place and the importance of logistics in Turkish food sector, recommendations will be made for the food industry.

Keywords: Logistics, Turkish food industry, competition, food industry.

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Authors: Omar Farahat Hassanein, A. Samer Ezeldin

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The construction industry is a very dynamic field. Every day new technologies and methods are developed to fasten the process and increase its efficiency. Hence, if a project uses fewer resources it will be more efficient.

This paper examines the recycling of concrete construction and demolition (C&D) waste to reuse it as aggregates in on-site applications for construction projects in Egypt and possibly in the Middle East. The study focuses on a stationary plant setting. The machinery set-up used in the plant is analyzed technically and financially.

The findings are gathered and grouped to obtain a comprehensive cost-benefit financial model to demonstrate the feasibility of establishing and operating a concrete recycling plant. Furthermore, a detailed business plan including the time and hierarchy is proposed. 

Keywords: Construction wastes, recycling, sustainability, financial model, concrete recycling, concrete life cycle.

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Authors: Mohammed Albakariyu Kabir

Abstract:

There is a trend in development discourse to understand and explain the level of corruption in Nigeria, its anticorruption crusade and why it is failing, as well as its level of compliance with International standards of United Nations Convention against Corruption (UNCAC) & African Union Convention on Converting and Preventing Corruption) to which Nigeria is a signatory. This paper discusses the legal and Constitutional provisions relating to corrupt practices and safeguards in Nigeria, as well as the obstacles to the implementation of these Conventions. The paper highlights the challenges posed to the Anti-Corruption crusade by analysing the loopholes that exist both in administrative structure and in scope of the relevant laws. The paper argues that Nigerian Constitution did not make adequate provisions for the implementation of the conventions, hence a proposal which will ensure adequate provision for implementing the conventions to better the lives of Nigerians. The paper concludes that there is the need to build institutional parameters, adequate constitutional and structural safeguards, as well as to synergise strategies, collaborations and alliances to facilitate the timely domestication and implementation of the conventions.

Keywords: Anti-Corruption, Corruption, Convention, domestication, poverty, State Parties.

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Authors: Sittichai Kaewkuekool, Vanchai Laemlaksakul

Abstract:

At the present, auto part industries have become higher challenge in strategy market. As this consequence, manufacturers need to have better response to customers in terms of quality, cost, and delivery time. Moreover, they need to have a good management in factory to comply with international standard maximum capacity and lower cost. This would lead companies to have to order standard part from aboard and become the major cost of inventory. The development of auto part research by recycling materials experiment is to compare the auto parts from recycle materials to international auto parts (CKD). Factors studied in this research were the recycle material ratios of PU-foam, felt, and fabric. Results of recycling materials were considered in terms of qualities and properties on the parameters such as weight, sound absorption, water absorption, tensile strength, elongation, and heat resistance with the CKD. The results were showed that recycling materials would be used to replace for the CKD.

Keywords: International auto parts, recycling materials.

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