Search results for: Financial Institutions

Authors: K.Manimala, Dr.K.Selvi, R.Ahila

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Artificial Intelligence (AI) methods are increasingly being used for problem solving. This paper concerns using AI-type learning machines for power quality problem, which is a problem of general interest to power system to provide quality power to all appliances. Electrical power of good quality is essential for proper operation of electronic equipments such as computers and PLCs. Malfunction of such equipment may lead to loss of production or disruption of critical services resulting in huge financial and other losses. It is therefore necessary that critical loads be supplied with electricity of acceptable quality. Recognition of the presence of any disturbance and classifying any existing disturbance into a particular type is the first step in combating the problem. In this work two classes of AI methods for Power quality data mining are studied: Artificial Neural Networks (ANNs) and Support Vector Machines (SVMs). We show that SVMs are superior to ANNs in two critical respects: SVMs train and run an order of magnitude faster; and SVMs give higher classification accuracy.

Keywords: back propagation network, power quality, probabilistic neural network, radial basis function support vector machine

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a. It means a financial dealing or transaction in which seller tells cost of the goods to be sold to buyer. Otherwise, the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (Peace be upon him), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency However, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: Shariah compliance, import murabaha, islamic banking, product development.

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Authors: Elina Bakhtieva

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The variety of available digital tools, strategies and activities might confuse and disorient even an experienced marketer. This applies in particular to B2B companies, which are usually less flexible in uptaking of digital technology than B2C companies. B2B companies are lacking a framework that corresponds to the specifics of the B2B business, and which helps to evaluate a company’s capabilities and to choose an appropriate path. A B2B digital marketing maturity model helps to fill this gap. However, modern marketing offers no widely approved digital marketing maturity model, and thus, some marketing institutions provide their own tools. The purpose of this paper is building an optimized B2B digital marketing maturity model based on a SWOT (strengths, weaknesses, opportunities, and threats) analysis of existing models. The current study provides an analytical review of the existing digital marketing maturity models with open access. The results of the research are twofold. First, the provided SWOT analysis outlines the main advantages and disadvantages of existing models. Secondly, the strengths of existing digital marketing maturity models, helps to identify the main characteristics and the structure of an optimized B2B digital marketing maturity model. The research findings indicate that only one out of three analyzed models could be used as a separate tool. This study is among the first examining the use of maturity models in digital marketing. It helps businesses to choose between the existing digital marketing models, the most effective one. Moreover, it creates a base for future research on digital marketing maturity models. This study contributes to the emerging B2B digital marketing literature by providing a SWOT analysis of the existing digital marketing maturity models and suggesting a structure and main characteristics of an optimized B2B digital marketing maturity model.

Keywords: B2B digital marketing strategy, digital marketing, digital marketing maturity model, SWOT analysis.

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Authors: Tea Poklepović, Zdravka Aljinović, Branka Marasović

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Due to the importance of yield curve and its estimation it is inevitable to have valid methods for yield curve forecasting in cases when there are scarce issues of securities and/or week trade on a secondary market. Therefore in this paper, after the estimation of weekly yield curves on Croatian financial market from October 2011 to August 2012 using Nelson-Siegel and Svensson models, yield curves are forecasted using Vector autoregressive model and Neural networks. In general, it can be concluded that both forecasting methods have good prediction abilities where forecasting of yield curves based on Nelson Siegel estimation model give better results in sense of lower Mean Squared Error than forecasting based on Svensson model Also, in this case Neural networks provide slightly better results. Finally, it can be concluded that most appropriate way of yield curve prediction is Neural networks using Nelson-Siegel estimation of yield curves.

Keywords: Nelson-Siegel model, Neural networks, Svensson model, Vector autoregressive model, Yield curve.

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Authors: Jing Zhou, Weiqun Su, Naying Luo, Min Shang, Li Wu

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The coupling of land use system in geographical research is mainly the coupling of pattern and process, which is essentially the human-land coupling, and is an important part of the research and discussion of human-land relationship. Based on the Web of Science database, the paper titles, authors, keywords, and references from 1997-2020 related to land use coupling were used as data sources to explore the research progress of land use coupling. Cite Space bibliometric tool was used for co-occurrence analysis of the issuing country, issuing institution, co-cited author, disciplinary institution, and keywords. The results are shown as follows: (1) From 1997 to 2020, the United States, China, and Germany rank the top, with more than 250 published papers. Although China ranks second in the number of published papers on foreign literature, it has less centrality and less influence. (2) The top 10 institutions (universities) in the number of published papers (more than 300 articles) are mainly from the United States and China, and the University of Chinese Academy of Sciences has the highest output of papers. At the same time, the phenomenon of multi-institutional cooperation has increased in the field of land use coupling research. (3) From 1997 to 2020, land sensitivity research and the impact of climate change on land use patterns are the main directions of land use coupling research. However, in the past five years, scholars have mainly focused on the coupling research methods of land use and the coupling relationship between ecological and environmental factors and land use.

Keywords: Land use coupling, cite space, knowledge graph, visual analysis, research progress.

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Authors: Sumiko Anno, Keiji Imaoka, Takeo Tadono, Tamotsu Igarashi, Subramaniam Sivaganesh, Selvam Kannathasan, Vaithehi Kumaran, Sinnathamby Noble Surendran

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Dengue outbreaks are affected by biological, ecological, socio-economic and demographic factors that vary over time and space. These factors have been examined separately and still require systematic clarification. The present study aimed to investigate the spatial-temporal clustering relationships between these factors and dengue outbreaks in the northern region of Sri Lanka. Remote sensing (RS) data gathered from a plurality of satellites were used to develop an index comprising rainfall, humidity and temperature data. RS data gathered by ALOS/AVNIR-2 were used to detect urbanization, and a digital land cover map was used to extract land cover information. Other data on relevant factors and dengue outbreaks were collected through institutions and extant databases. The analyzed RS data and databases were integrated into geographic information systems, enabling temporal analysis, spatial statistical analysis and space-time clustering analysis. Our present results showed that increases in the number of the combination of ecological factor and socio-economic and demographic factors with above the average or the presence contribute to significantly high rates of space-time dengue clusters.

Keywords: ALOS/AVNIR-2, Dengue, Space-time clustering analysis, Sri Lanka.

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Authors: Hamidou Diallo, Marianne Guille

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This paper identifies leading triggers of deficient episodes in terms of GDP growth based on a sample of countries at different stages of development over 1994-2017. Using logit models, we build early warning systems (EWS) and our results show important differences between developing countries (DCs) and advanced economies (AEs). For AEs, the main predictors of the probability of entering in a GDP growth deficient episode are the deterioration of external imbalances and the vulnerability of fiscal position while DCs face different challenges that need to be considered. The key indicators for them are first, the low ability to pay its debts and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. For AEs, the evolution of the proportion of countries in the riskiest pool is marked first, by three distinct peaks just after the high-tech bubble burst, the global financial crisis and the European sovereign debt crisis, and second by a very low minimum level in 2006 and 2007. In contrast, the situation of DCs is characterized first by a relative stability of this proportion and then by an upward trend from 2006, that can be explained by more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation.

Keywords: GDP growth, early warning system, advanced economies, developing countries.

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Authors: Nazira Kakulia

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The analysis of transformation of institutional changes outlines two important characteristics. These are: the speed of the changes and their sequence. Successful transformation must be carried out in three different stages; On the first stage, macroeconomic stabilization must be achieved with the help of fiscal and monetary tools. Two-tier banking system should be established and the active functions of central bank should be replaced by the passive ones (reserve requirements and refinancing rate), together with the involvement growth of private sector. Fiscal policy by itself here means the creation of tax system which must replace previously existing direct state revenues; the share of subsidies in the state expenses must be reduced also. The second stage begins after reaching the macroeconomic stabilization at a time of change of formal institutes which must stimulate the private business. Corporate legislation creates a competitive environment at the market and the privatization of state companies takes place. Bankruptcy and contract law is created. he third stage is the most extended one, which means the formation of all state structures that is necessary for the further proper functioning of a market economy. These three stages about the cycle period of political and social transformation and the hierarchy of changes can also be grouped by the different methodology: on the first and the most short-term stage the transfer of power takes place. On the second stage institutions corresponding to new goal are created. The last phase of transformation is extended in time and it includes the infrastructural, socio-cultural and socio-structural changes. The main goal of this research is to explore and identify the features of such kind of models.

Keywords: Competitive, environment, fiscal policy, macro-economic stabilization.

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Authors: M. C. Venter, G. Hitge, S. C. Krygsman, J. Thiart

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For decades, South Africa has been planning transportation systems from a supply, rather than a demand side, perspective. In terms of parking, this relates to requiring the minimum parking provision that is enforced by city officials. Newer insight is starting to indicate that South Africa needs to re-think this philosophy in light of a new policy environment that desires a different outcome. Urban policies have shifted from reliance on the private car for access, to employing a wide range of alternative modes. Car dominated travel is influenced by various parameters, of which the availability and location of parking plays a significant role. The question is therefore, what is the right strategy to achieve the desired transport outcomes for SA. The focus of this paper is used to assess this issue with regard to parking provision, and specifically at a tertiary institution. A parking audit was conducted at the Stellenbosch campus of Stellenbosch University, monitoring occupancy at all 60 parking areas, every hour during business hours over a five-day period. The data from this survey was compared with the prescribed number of parking bays according to the Stellenbosch Municipality zoning scheme (requiring a minimum of 0.4 bays per student). The analysis shows that by providing 0.09 bays per student, the maximum total daily occupation of all the parking areas did not exceed an 80% occupation rate. It is concluded that the prevailing parking standards are not supportive of the new urban and transport policy environment, but that it is extremely conservative from a practical demand point of view.

Keywords: Parking provision, parking requirements, travel behaviour, travel demand management.

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Authors: Latha Parameswaran, K. Anbumani

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Multimedia security is an incredibly significant area of concern. The paper aims to discuss a robust image watermarking scheme, which can withstand geometric attacks. The source image is initially moment normalized in order to make it withstand geometric attacks. The moment normalized image is wavelet transformed. The first level wavelet transformed image is segmented into blocks if size 8x8. The product of mean and standard and standard deviation of each block is computed. The second level wavelet transformed image is divided into 8x8 blocks. The product of block mean and the standard deviation are computed. The difference between products in the two levels forms the watermark. The watermark is inserted by modulating the coefficients of the mid frequencies. The modulated image is inverse wavelet transformed and inverse moment normalized to generate the watermarked image. The watermarked image is now ready for transmission. The proposed scheme can be used to validate identification cards and financial instruments. The performance of this scheme has been evaluated using a set of parameters. Experimental results show the effectiveness of this scheme.

Keywords: Image moments, wavelets, content-based watermarking, moment normalization, geometric attacks.

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Authors: Gianluigi De Mare, Tony Leopoldo Luigi Lenza, Rino Conte

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The evolution of technology and construction techniques has enabled the upgrading of transport networks. In particular, the high-speed rail networks allow convoys to peak at above 300 km/h. These structures, however, often significantly impact the surrounding environment. Among the effects of greater importance are the ones provoked by the soundwave connected to train transit. The wave propagation affects the quality of life in areas surrounding the tracks, often for several hundred metres. There are substantial damages to properties (buildings and land), in terms of market depreciation. The present study, integrating expertise in acoustics, computering and evaluation fields, outlines a useful model to select project paths so as to minimize the noise impact and reduce the causes of possible litigation. It also facilitates the rational selection of initiatives to contain the environmental damage to the already existing railway tracks. The research is developed with reference to the Italian regulatory framework (usually more stringent than European and international standards) and refers to a case study concerning the high speed network in Italy.

Keywords: Impact, compensation for financial loss, depreciation of property, railway network design, genetic algorithms.

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Authors: Prasansha Kumari

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This paper intends to identify and analyze customer adoption and attitudes towards mobile banking facilities. The study uses six perceived characteristics of innovation that can be used to form a favorable or unfavorable attitude toward an innovation, namely: Relative advantage, compatibility, complexity, trailability, risk, and observability. Collected data were analyzed using Pearson Chi-Square test. The results showed that mobile bank users were predominantly males. There is a growing trend among young, educated customers towards converting to mobile banking in Sri Lanka. The research outcomes suggested that all the six factors are statistically highly significant in influencing mobile banking adoption and attitude formation towards mobile banking in Sri Lanka. The major reasons for adopting mobile banking services are the accessibility and availability of services regardless of time and place. Over the 75 percent of the respondents mentioned that savings in time and effort and low financial costs of conducting mobile banking were advantageous. Issue of security was found to be the most important factor that motivated consumer adoption and attitude formation towards mobile banking. Main barriers to mobile banking were the lack of technological skills, the traditional cash‐carry banking culture, and the lack of awareness and insufficient guidance to using mobile banking.

Keywords: Compatibility, complexity, mobile banking, risk.

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Authors: Nadira Kaimova

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In this paper it was examined the influence of margin regulation on stock market volatility in EU 1993 – 2014. Regulating margin requirements or haircuts for securities financing transactions has for a long time been considered as a potential tool to limit the build-up of leverage and dampen volatility in financial markets. The margin requirement dictates how much investors can borrow against these securities. Margin can be an important part of investment. Using daily and monthly stock returns and there is no convincing evidence that EU Regulation margin requirements have served to dampen stock market volatility. In this paper was detected the expected negative relation between margin requirements and the amount of margin credit outstanding. Also, it confirmed that changes in margin requirements by the EU regulation have tended to follow than lead changes in market volatility. For the analysis have been used the modified Levene statistics to test whether the standard deviation of stock returns in the 25, 50 and 100 days preceding margin changes is the same as that in the succeeding 25, 50 and 100 days. The analysis started in May 1993 when it was first empowered to set the initial margin requirement and the last sample was in May 2014. To test whether margin requirements influence stock market volatility over the long term, the sample of stock returns was divided into 14 periods, according to the 14 changes in margin requirements.

Keywords: Levene statistic, Margin Regulation, Stock Market, Volatility.

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Authors: M. Osmani, A. O'Reilly

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Housebuilders in England have been the target of numerous government policies in recent years promoting increased productivity and affordability. As a result, the housebuilding industry is currently faced with objectives to improve the affordability and sustainability of new homes whilst also increasing production rates to 240,000 per year by 2016.Yet amidst a faltering economic climate, the UK Government is forging ahead with the 'Code for Sustainable Homes', which includes stringent sustainable standards for all new homes and sets ambitious targets for the housebuilding industry, the culmination of which is the production of zero carbon homes by 2016.Great uncertainty exists amongst housebuilders as to the costs, benefits and risks of building zero carbon homes. This paper examines the key barriers to zero carbon homes from housebuilders- perspective. A comprehensive opinion on the challenges to deliver zero carbon homes is gathered through a questionnaire survey issued to the major housing developers in England. The study found that a number of cultural, legislative, and financial barriers stand in the way of the widespread construction of zero carbon homes. The study concludes with several recommendations to both the Government and the housebuilding industry to address the barriers that hinder a successful delivery of zero carbon homes in England.

Keywords: Zero carbon homes, Code for Sustainable Homes, housebuilders, England

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Authors: Janet B. Badong-Badilla

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In Jesuit universities, laypersons, who come from the same or different faith backgrounds or traditions, are considered as collaborators in mission. The Jesuits themselves support the contributions of the lay partners in realizing the mission of the Society of Jesus and recognize the important role that they play in education. This study aims to investigate and generate particular notions and understandings of lived experiences of being a lay partner in Jesuit universities in the Philippines, particularly those involved in higher education. Using the qualitative approach as introduced by grounded theorist Barney Glaser, the lay partners’ concept of being a partner, as lived in higher education, is generated systematically from the data collected in the field primarily through in-depth interviews, field notes and observations. Glaser’s constant comparative method of analysis of data is used going through the phases of open coding, theoretical coding, and selective coding from memoing to theoretical sampling to sorting and then writing. In this study, Glaser’s grounded theory as a methodology will provide a substantial insight into and articulation of the layperson’s actual experience of being a partner of the Jesuits in education. Such articulation provides a phenomenological approach or framework to an understanding of the meaning and core characteristics of Jesuit-Lay partnership in Jesuit educational institution of higher learning in the country. This study is expected to provide a framework or model for lay partnership in academic institutions that have the same practice of having lay partners in mission.

Keywords: Grounded theory, Jesuit mission in higher education, lay partner, lived experience.

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Authors: Azadeh Maroufmashat, Sourena Sattari Khavas, Halle Bakhteeyar

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Multi-energy systems will enhance the system reliability and power quality. This paper presents an integrated approach for the design and operation of distributed energy resources (DER) systems, based on energy hub modeling. A multi-objective optimization model is developed by considering an integrated view of electricity and natural gas network to analyze the optimal design and operating condition of DER systems, by considering two conflicting objectives, namely, minimization of total cost and the minimization of environmental impact which is assessed in terms of CO2 emissions. The mathematical model considers energy demands of the site, local climate data, and utility tariff structure, as well as technical and financial characteristics of the candidate DER technologies. To provide energy demands, energy systems including photovoltaic, and co-generation systems, boiler, central power grid are considered. As an illustrative example, a hotel in Iran demonstrates potential applications of the proposed method. The results prove that increasing the satisfaction degree of environmental objective leads to increased total cost.

Keywords: Multi objective optimization, DER systems, Energy hub, Cost, CO2 emission.

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Authors: Yi-Hsin Lin, Ying-Ying Li

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The construction industry is the pillar industry in China, accounting for about 6% of the gross domestic product. Along with changes in the external environment of the construction industry in China, the construction firm faces fierce competition. The paper aims to investigate the relationship between diversified types of construction firm and its performance in China. Based on generalist and specialist strategy in organizational ecology, we think a generalist organization can be applied to an enterprise with diversified developments, while specialist groups are extended to professional enterprises .This study takes advantage of annual financial data of listed construction firm to empirically verify the relationship between diversification and corporation performance establishing a regression equation to econometric analysis. We find that: 1) Specialization can significantly improve the level of profitability of listed construction firms, and there is a significant positive relationship with corporate performance; 2) The level of operating performance of listed construction enterprises which engage in unrelated diversification is higher than those with related diversification; 3) The relationship between state-owned construction firms and corporate performance is negative. The more the year of foundation is, the higher performance will be; however, the more the year of being listed, the lower performance will be.

Keywords: Diversification, Specialization, Construction Firm, Performance.

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Authors: Anchana Sooksomchitra

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This study aims to explore and compare the current condition of community radio stations in Phutthamonthon district, Nakhon Pathom province, Thailand, as well as the challenges they are facing. Qualitative research tools including in-depth interviews; documentary analysis; focus group interviews; and observation, are used to examine the content, programming, and management structure of three community radio stations currently in operation within the district. Research findings indicate that the management and operational approaches adopted by the two non-profit stations included in the study, Salaya Pattana and Voice of Dhamma, are more structured and effective than that of the for-profit Tune Radio. Salaya Pattana – backed by the Faculty of Engineering, Mahidol University, and the charity-funded Voice of Dhamma, are comparatively free from political and commercial influence, and able to provide more relevant and consistent community-oriented content to meet the real demand of the audience. Tune Radio, on the other hand, has to rely solely on financial support from political factions and business groups, which heavily influence its content.

Keywords: Radio broadcasting, programming, management, community radio, Thailand.

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Authors: Akiko Kondo, Akio Kondo

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We are facing regional problems to low birth rate and longevity in Japan. Under this situation, there are some local municipalities which lose their vitality. The aims of this study are to clarify the present state of local public transportation services in local municipalities and relation between local public transportation services and population quantitatively. We conducted a questionnaire survey concerning regional agenda in all local municipalities in Japan. We obtained responses concerning the present state of convenience in use of public transportation and local public transportation services. Based on the data gathered from the survey, it is apparent that we should some sort of measures concerning public transportation services. Convenience in use of public transportation becomes an object of public concern in many rural regions. It is also clarified that some local municipalities introduce a demand bus for the purpose of promotion of administrative and financial efficiency. They also introduce a demand taxi in order to secure transportation to weak people in transportation and eliminate of blank area related to public transportation services. In addition, we construct a population model which includes explanatory variables of present states of local public transportation services. From this result, we can clarify the relation between public transportation services and population quantitatively.

Keywords: Public transportation, local municipality, regional analysis, regional issue.

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Authors: George Yungchih Wang

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For decades financial economists have been attempted to determine the optimal investment policy by recognizing the option value embedded in irreversible investment whose project value evolves as a geometric Brownian motion (GBM). This paper aims to examine the effects of the optimal investment trigger and of the misspecification of stochastic processes on investment in real options applications. Specifically, the former explores the consequence of adopting optimal investment rules on the distributions of corporate value under the correct assumption of stochastic process while the latter analyzes the influence on the distributions of corporate value as a result of the misspecification of stochastic processes, i.e., mistaking an alternative process as a GBM. It is found that adopting the correct optimal investment policy may increase corporate value by shifting the value distribution rightward, and the misspecification effect may decrease corporate value by shifting the value distribution leftward. The adoption of the optimal investment trigger has a major impact on investment to such an extent that the downside risk of investment is truncated at the project value of zero, thereby moving the value distributions rightward. The analytical framework is also extended to situations where collection lags are in place, and the result indicates that collection lags reduce the effects of investment trigger and misspecification on investment in an opposite way.

Keywords: GBM, real options, investment trigger, misspecification, collection lags

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Authors: F. Guspi, E. García

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This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. We found that the average Catalonian Academic Spin-Off is small and have not achieved the sustainability stage at year 6. On the contrary, a small group of High Growth Academic Spin-Off’s exhibits robust performance with high profits in year 6. Our results support the need to increase selectivity and support for these companies especially near year 3, because are the ones that will bring wealth and employment. University role as an investor has rigid norms and habits that impede an efficient economic return from their ASO investment. Universities with high performance on sales and employment in year 3 not always could sustain this growth in year 6 because their ASO’s are not profitable. On the contrary, profitable ASO exhibit superior performance in all measurement indicators in year 6. We advocate the need of a balanced growth (with profits) as a way to obtain subsequent continuous growth.

Keywords: Academic Spin-Off (ASO), University Entrepreneurship, Entrepreneurial University, high growth, New Technology Based Companies (NTBC), University Spin-Off.

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Authors: Maassoumeh Javadi Baygi, Abdul Rahman B Ramli, Borhanuddin Mohd Ali, Syamsiah Mashohor

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The expectation of network performance from the early days of ARPANET until now has been changed significantly. Every day, new advancement in technological infrastructure opens the doors for better quality of service and accordingly level of perceived quality of network services have been increased over the time. Nowadays for many applications, late information has no value or even may result in financial or catastrophic loss, on the other hand, demands for some level of guarantee in providing and maintaining quality of service are ever increasing. Based on this history, having a QoS aware routing system which is able to provide today's required level of quality of service in the networks and effectively adapt to the future needs, seems as a key requirement for future Internet. In this work we have extended the traditional AntNet routing system to support QoS with multiple metrics such as bandwidth and delay which is named Q-Net. This novel scalable QoS routing system aims to provide different types of services in the network simultaneously. Each type of service can be provided for a period of time in the network and network nodes do not need to have any previous knowledge about it. When a type of quality of service is requested, Q-Net will allocate required resources for the service and will guarantee QoS requirement of the service, based on target objectives.

Keywords: Quality of Service, Routing, Ant Colony Optimization, Ant-based algorithms.

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Authors: Peng Yew Wong

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House prices in the Australian capital cities were at record levels subsequent to Global Financial Crisis (GFC) 2008 and many believed that foreign investors, especially the Chinese investors, were the main reason for the Australian capital cities’ house prices escalation. This research conducted an Australian cross border semi-structured interviews in Shanghai, China to uncover historical evidence and emerging trend supporting the existence of a significant relationship between overseas investors and residential housing markets performance in Australia subsequent to the GFC 2008. Some unique investment strategies of private investors from China which emphasised on non-capitalist factors such as early education were identified, alongside with some insights on the significant China government policies that have incentivised the cross border investments from China. It is believed that this understanding will assist policy makers to effectively manage the overheated Australian residential property market without compromising the steady flow of FREI.

Keywords: Australian housing market, residential property, foreign real estate investment, education, China investor.

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Authors: Abdulaziz Abdulsaleh

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This study aims at identifying the practices that should be taken into consideration by audit committees as a tool of corporate governance in Libyan commercial banks by investigating various perceptions on this topic. The study is based on a questionnaire submitted to audit committees ‘members at Libyan commercial banks, directors of internal audit departments as well as members of board of directors at these banks in addition to a number of external auditors and academic staff from Libyan universities. The study reveals that the role of audit committees has to be shifted from traditional areas of accounting to a broader role including functions related to financial reporting, audit planning, support the independence of internal and external auditors, acting as a channel of communication between external auditors and board of directors, reviewing external audit, and evaluating internal control systems. Although the study is a starting point in developing a framework of good audit committees’ practices in Libya, it is believed that the adoption of its results can result in enhancing the corporate governance practices not only in the banking sector but also in the entire corporate sector in Libya.

Keywords: Audit committees, Corporate Governance, Commercial Banks, Libya.

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Authors: P. C. Kutschera, Elena C. Tesoro, Mary Grace Talamera-Sandico, Jose Maria G. Pelayo III

Abstract:

Second generation military Filipino Amerasians comprise a formidable contemporary segment of the estimated 250,000-plus biracial Amerasians in the Philippines today. Overall, they are a stigmatized and socioeconomically marginalized diaspora; historically, they were abandoned or estranged by U.S. military personnel fathers assigned during the century-long Colonial, Post- World War II and Cold War Era of permanent military basing (1898- 1992). Indeed, U.S. military personnel are assigned in smaller numbers in the Philippines today. This inquiry is an outgrowth of two recent small sample studies. The first surfaced the impact of the U.S. military prostitution system on formation of the ‘Derivative Amerasian Family Construct’ on first generation Amerasians; a second, qualitative case study suggested the continued effect of the prostitution systems' destructive impetuous on second generation Amerasians. The intent of this current qualitative, multiple-case study was to actively seek out second generation sex industry toilers. The purpose was to focus further on this human phenomenon in the postbasing and post-military prostitution system eras. As background, the former military prostitution apparatus has transformed into a modern dynamic of rampant sex tourism and prostitution nationwide. This is characterized by hotel and resorts offering unrestricted carnal access, urban and provincial brothels (casas), discos, bars and pickup clubs, massage parlors, local barrio karaoke bars and street prostitution. A small case study sample (N = 4) of female and male second generation Amerasians were selected. Sample formation employed a non-probability ‘snowball’ technique drawing respondents from the notorious Angeles, Metro Manila, Olongapo City ‘AMO Amerasian Triangle’ where most former U.S. military installations were sited and modern sex tourism thrives. A six-month study and analysis of in-depth interviews of female and male sex laborers, their families and peers revealed a litany of disturbing, and troublesome experiences. Results showed profiles of debilitating human poverty, history of family disorganization, stigmatization, social marginalization and the ghost of the military prostitution system and its harmful legacy on Amerasian family units. Emerging were testimonials of wayward young people ensnared in a maelstrom of deep economic deprivation, familial dysfunction, psychological desperation and societal indifference. The paper recommends that more study is needed and implications of unstudied psychosocial and socioeconomic experiences of distressed younger generations of military Amerasians require specific research. Heretofore apathetic or disengaged U.S. institutions need to confront the issue and formulate activist and solution-oriented social welfare, human services and immigration easement policies and alternatives. These institutions specifically include academic and social science research agencies, corporate foundations, the U.S. Congress, and Departments of State, Defense and Health and Human Services, and Homeland Security (i.e. Citizen and Immigration Services) It is them who continue to endorse a laissez-faire policy of non-involvement over the entire Filipino Amerasian question. Such apathy, the paper concludes, relegates this consequential but neglected blood progeny to the status of humiliating destitution and exploitation. Amerasians; thus, remain entrapped in their former colonial, and neo-colonial habitat. Ironically, they are unwitting victims of a U.S. American homeland that fancies itself geo-politically as a strong and strategic military treaty ally of the Philippines in the Western Pacific.

Keywords: Asian Americans, Filipino Amerasians, diaspora, military prostitution, stigmatization.

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Authors: Davinder Singh, Jaimal Singh Khamba, Tarun Nanda

Abstract:

MSMEs are regarded as the sunrise sector of the Indian economy in view of its large potential for growth and likely socio economic impact specifically on employment and income generation. In today’s competitive business environment, global competition forces companies to continuously seek ways of improving their products and services. The pressure on organizations to adapt to new technologies and external threats requires resourcefulness, creativity and innovation. Market has become more open, competitive and customers more demanding. Without continuous technology innovation, no organization can ever remain competitive. Innovations reflect a critical way in which organizations respond to either technological or market challenges. The need of the market is to deliver high quality products through continuous changing in features in product, improve existing products, reduce their cost, and improve employee skills, training, technology infrastructure and financial policies. Therefore, the key factor of organization’s ability to change is innovation. The study presents a detailed review of literature on the role of technology innovation in improving manufacturing performance of industries.

Keywords: Competitive, Manufacturing performance, MSMEs, Technological Innovation.

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Authors: C. Mallada Fernández

Abstract:

Economic development and globalization of international markets have created a favourable atmosphere for the emergence of new forms of crime such as money laundering or financing of terrorism, which may contribute to destabilized and damage economic systems. In particular, money laundering have acquired great importance since the 11S attacks, what has caused on the one hand, the establishment and development of preventive measures and, on the other hand, a progressive hardening of penal measures. Since then, the regulations imposed to fight against money laundering have been viewed as key components also in the fight against terrorist financing. Terrorism, at the beginning, was a “national” crime connected with internal problems of the State (for instance the RAF in Germany or ETA in Spain) but in the last 20 years has started to be an international problem that is connected with the defence and security of the States. Therefore, the new strategic concept for the defense and security of NATO has a comprehensive list of security threats to the Alliance, such as terrorism, international instability, money laundering or attacks on cyberspace, among others. With this new concept, money laundering and terrorism has become a priority in the national defense.

In this work we will analyze the methods to combat these new threats to the national security. We will study the preventive legislations to combat money laundering and financing of terrorism, the UIF that exchange information between States, and the hawala-Banking.

Keywords: Control of financial flows, money laundering, terrorism, financing of terrorism.

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Authors: Suneel M. Agerwala, Ashley Votta, Briana Hogan, John Yannocone, Steven Samuels, SheilaChiffriller

Abstract:

Road rage is an increasingly prevalent expression of aggression in our society. Its dangers are apparent and understanding its causes may shed light on preventative measures. This study involved a fifteen-minute survey administered to 147 undergraduate students at a North Eastern suburban university. The survey consisted of a demographics section, questions regarding financial investment in respondents- vehicles, experience driving, habits of driving, experiences witnessing role models driving, and an evaluation of road rage behavior using the Driving Vengeance Questionnaire. The study found no significant differences in driving aggression between respondents who were financially invested in their vehicle compared to those who were not, or between respondents who drove in heavy traffic hours compared to those who did not, suggesting internal factors correlate with aggressive driving habits. The study also found significant differences in driving aggression between males versus females, those with more points on their license versus fewer points, and those who witnessed parents driving aggressively very often versus rarely or never. Additional studies can investigate how witnessing parents driving aggressively is related to future driving behaviors.

Keywords: Aggression, college, driving, road rage.

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Authors: Wenguang Ding, Yang Wu, Xia Wang, Yayu Gao

Abstract:

Biogas, a clean renewable energy, is attracting a growing concern of researchers and professionals in many fields. Based on the natural and climatic conditions in semi-arid regions of northwestern China, the present study introduces a specifically-designed family-size biogas plant (with a digester of 10m3) with manure and urine of animals and humanity as raw materials. The biogas plant is applicable to areas with altitudes of more than 2000 meters in northwestern China. In addition to the installation cost, a little operational expenditure, structure, characteristics, benefits of this small-scale biogas plant, this article introduces a wide range of specific popularization methods such as training, financial support, guided tour to the biogas plant, community-based group study and delivery of operational manuals. The feasibility of the biogas plant is explored on the basis of the availability of the raw materials. Simple operations contained in the current work increase the possibility of the wide use of this small-scale biogas plant in similar regions of the world.

Keywords: biogas, family-size biogas plant, northwestern China, popularization

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Authors: Rurui (Angelina) Liu

Abstract:

Universities have been one of the most important institutions in society. They shoulder the responsibility to do research and teach further generations. Therefore, the governance of universities has been a heated topic and has been learned for years. Recently, it witnessed great changes, for example, the massification of Higher Education (HE), marketization, and privatization. As a result, more stakeholders are involved in the governance of HE, among which students’ participation in HE becomes more important. However, the research about students’ participation in HE governance in China is not sufficient, and the situation requires improvement. The paper aims to not only fill in the research gap but also put forward practical suggestions to follow the world’s trend of HE governance. The methodology of this paper is literature analysis with comparative studies between China and western countries. The research points out that the current situation of students’ participation in HE governance is unideal due to problems in three fields, values and concepts, mechanisms and systems, as well as student unions. Then, the policy implications are based on these reasons: universities should highlight students’ status, respect their subjectivity and adhere to the service awareness; the government requires to build a sound legal system while universities should establish complete mechanisms and systems; student unions should be encouraged by universities to take part in HE governance affairs with sufficient funds, and autonomy. On the one hand, this paper is a further application of four rationales (consumerism, political-realism, communitarian, democracy, and consequentialism) created by Luescher‐Mamashela for the inevitable trend of students’ participation in HE governance. On the other hand, the suggestions it made benefit the students, universities, and society in practical ways.

Keywords: Students’ participation, higher education governance, Chinese higher education, university power.

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