Search results for: finance industrial sector

Authors: Mohammed Alshehri, Steve Drew

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More and more governments around the world are introducing e-government as a means of reducing costs, improving services, saving time and increasing effectiveness and efficiency in the public sector Therefore e-government has been identified as one of the top priorities for Saudi government and all its agencies. However, the adoption of e-government is facing many challenges and barriers such as technological, cultural, organizational, and social issues which must be considered and treated carefully by any government contemplating its adoption. This paper reports on a pilot study amongst online (e-ready) citizens to identify the challenges and barriers that affect the adoption of e-government services especially from their perspective in Saudi society. Based on the analysis of data collected from an online survey the researcher was able to identify some of the important barriers and challenges from the e-ready citizen perspective. As a result, this study has generated a list of possible strategies to move towards successful adoption of egovernment services in Saudi Arabia.

Keywords: Challenges, E-government services, adoption, SaudiArabia

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Authors: Manal Rayes

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In its efforts to utilize the information and communication technology to enhance the quality of public service delivery, national and local governments around the world are competing to introduce more ICT applications as tools to automate processes related to law enforcement or policy execution, increase citizen orientation, trust, and satisfaction, and create one-stop-shops for public services. In its implementation, e-Government ICTs need to maintain transparency, participation, and collaboration. Due to this diverse of mixed goals and requirements, e-Government systems need to be designed based on special design considerations in order to eliminate the risks of failure to compliance to government regulations, citizen dissatisfaction, or market repulsion. In this article we suggest a framework with guidelines for designing government information systems that takes into consideration the special requirements of the public sector. Then we introduce two case studies and show how applying those guidelines would result in a more solid system design.

Keywords: e-government, framework, guidelines, system design.

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Authors: J. Ramírez A., A. Rubiano F.

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In this paper the direct kinematic model of a multiple applications three degrees of freedom industrial manipulator, was developed using the homogeneous transformation matrices and the Denavit - Hartenberg parameters, likewise the inverse kinematic model was developed using the same method, verifying that in the workload border the inverse kinematic presents considerable errors, therefore a genetic algorithm was implemented to optimize the model improving greatly the efficiency of the model.

Keywords: Direct Kinematic, Genetic Algorithm, InverseKinematic, Optimization, Robot Manipulator

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Authors: İsmet Öztürk, İbrahim Soğukpınar

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With the fast progression of data exchange in electronic way, information security is becoming more important in data storage and transmission. Because of widely using images in industrial process, it is important to protect the confidential image data from unauthorized access. In this paper, we analyzed current image encryption algorithms and compression is added for two of them (Mirror-like image encryption and Visual Cryptography). Implementations of these two algorithms have been realized for experimental purposes. The results of analysis are given in this paper.

Keywords: image encryption, image cryptosystem, security, transmission

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Authors: Sujing Wang, Song Wang, Jian Zhang, Qiang Xu

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Flaring emissions during abnormal operating conditions such as plant start-ups, shut-downs, and upsets in chemical process industries (CPI) are usually significant. Flare minimization can help to save raw material and energy for CPI plants, and to improve local environmental sustainability. In this paper, a systematic methodology based on plant-wide dynamic simulation is presented for CPI plant flare minimizations under abnormal operating conditions. Since off-specification emission sources are inevitable during abnormal operating conditions, to significantly reduce flaring emission in a CPI plant, they must be either recycled to the upstream process for online reuse, or stored somewhere temporarily for future reprocessing, when the CPI plant manufacturing returns to stable operation. Thus, the off-spec products could be reused instead of being flared. This can be achieved through the identification of viable design and operational strategies during normal and abnormal operations through plant-wide dynamic scheduling, simulation, and optimization. The proposed study includes three stages of simulation works: (i) developing and validating a steady-state model of a CPI plant; (ii) transiting the obtained steady-state plant model to the dynamic modeling environment; and refining and validating the plant dynamic model; and (iii) developing flare minimization strategies for abnormal operating conditions of a CPI plant via a validated plant-wide dynamic model. This cost-effective methodology has two main merits: (i) employing large-scale dynamic modeling and simulations for industrial flare minimization, which involves various unit models for modeling hundreds of CPI plant facilities; (ii) dealing with critical abnormal operating conditions of CPI plants such as plant start-up and shut-down. Two virtual case studies on flare minimizations for start-up operation (over 50% of emission savings) and shut-down operation (over 70% of emission savings) of an ethylene plant have been employed to demonstrate the efficacy of the proposed study.

Keywords: Flare minimization, large-scale modeling and simulation, plant shut-down, plant start-up.

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Authors: Christopher Reichstein, Ralf-Christian Härting, Martina Häußler

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With a continuously increasing speed of information exchange on the World Wide Web, retailers in the E-Commerce sector are faced with immense possibilities regarding different online purchase processes like dynamic price settings. By use of Dynamic Pricing, retailers are able to set short time price changes in order to optimize producer surplus. The empirical research illustrates the basics of Dynamic Pricing and identifies six influencing factors of Dynamic Pricing. The results of a structural equation modeling approach show five main drivers increasing the potential of dynamic price settings in the E-Commerce. Influencing factors are the knowledge of customers’ individual willingness to pay, rising sales, the possibility of customization, the data volume and the information about competitors’ pricing strategy.

Keywords: E-commerce, empirical research, experts, Dynamic Pricing (DP), influencing factors, potentials.

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Authors: E. Sok, Y. Zhuo, S. Wang

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A hybrid Photovoltaic/Thermal (PV/T) solar system integrates photovoltaic and solar thermal technologies into one single solar energy device, with dual generation of electricity and heat energy. The aim of the present study is to evaluate the potential for introduction of the PV/T technology into Northern China. For this purpose, outdoor experiments were conducted on a prototype of a PV/T water-heating system. The annual thermal and electrical performances were investigated under the climatic conditions of Beijing. An economic analysis of the system was then carried out, followed by a sensitivity study. The analysis revealed that the hybrid system is not economically attractive with the current market and energy prices. However, considering the continuous commitment of the Chinese government towards policy development in the renewable energy sector, and technological improvements like the increasing cost-effectiveness of PV cells, PV/Thermal technology may become economically viable in the near future.

Keywords: Hybrid Photovoltaic/Thermal (PV/T), Solar energy, Economic analysis

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Authors: A. Soikkeli

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Early 20^th century functionalism aimed at generalising living and rationalising construction, thus laying the foundation for the standardisation of construction components and products. From the 1930s onwards, all measurement and quality instructions for building products, different types of building components, descriptions of working methods complying with advisable building practises, planning, measurement and calculation guidelines, terminology, etc. were called standards. Standardisation was regarded as a necessary prerequisite for the mass production of housing.

This article examines the early stages of standardisation in Finland in the 1940s and 1950s, as reflected on the working history of an individual architect, ErkkiKoiso-Kanttila (1914-2006). In 1950 Koiso-Kanttila was appointed the Head of Design of the Finnish Association of Architects’ Building Standards Committee, a position which he held until 1958. His main responsibilities were the development of the RT Building Information File and compiling of the files.

Keywords: Architecture, Post WWII period, Reconstruction, Standardisation.

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Authors: E. Ramprasath, P. Manojkumar, P. Veena

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DC motors have been widely used in the past centuries which are proudly known as the workhorse of industrial systems until the invention of the AC induction motors which makes a huge revolution in industries. Since then, the use of DC machines has been decreased due to enormous factors such as reliability, robustness and complexity but it lost its fame due to the losses. In this paper a new methodology is proposed to construct a DC motor through the simulation in LabVIEW to get an idea about its real time performances, if a change in parameter might have bigger improvement in losses and reliability.

Keywords: Direct Current motor, LabVIEW software, modelling and analysis, overall characteristics of Direct Current motor.

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Authors: J. Carlos Frutos Dordelly, M. Coillot, M. El Mankibi, R. Enríquez Miranda, M. José Jimenez, J. Arce Landa

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Natural ventilation systems have increasingly been the subject of research due to rising energetic consumption within the building sector and increased environmental awareness. In the last two decades, the mounting concern of greenhouse gas emissions and the need for an efficient passive ventilation system have driven the development of new alternative passive technologies such as ventilated facades, trombe walls or solar chimneys. The objective of the study is the assessment of PCM panels in an in situ solar chimney for the establishment of a numerical model. The PCM integrated solar chimney shows slight performance improvement in terms of mass flow rate and external temperature and outlet temperature difference. An increase of 11.3659 m³/h can be observed during low wind speed periods. Additionally, the surface temperature across the chimney goes beyond 45 °C and allows the activation of PCM panels.

Keywords: Energy storage, passive ventilation, phase changing materials, solar chimney, solar energy.

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Authors: Yanqun Li, Hong Geng

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The occurrence of Wenchuan earthquake in 2008 has led to severe damage to the rural areas of Chengdu city, such as the rupture of the social network, the stagnation of economic production and the rupture of living space. The post-disaster reconstruction has become a sustainable issue. As an important link to maintain the order of rural social development, social network should be an important content of post-disaster reconstruction. Therefore, this paper takes rural reconstruction communities in earthquake-stricken areas of Chengdu as the research object and adopts sociological research methods such as field survey, observation and interview to try to understand the transformation of rural social relations network under the influence of earthquake and its impact on rural space. It has found that rural societies under the earthquake generally experienced three phases: the break of stable social relations, the transition of temporary non-normal state, and the reorganization of social networks. The connotation of phased rural social relations also changed accordingly: turn to a new division of labor on the social orientation, turn to a capital flow and redistribution in new production mode on the capital orientation, and turn to relative decentralization after concentration on the spatial dimension. Along with such changes, rural areas have emerged some social issues such as the alienation of competition in the new industry division, the low social connection, the significant redistribution of capital, and the lack of public space. Based on a comprehensive review of these issues, this paper proposes the corresponding response mechanism. First of all, a reasonable division of labor should be established within the villages to realize diversified commodity supply. Secondly, the villages should adjust the industrial type to promote the equitable participation of capital allocation groups. Finally, external public spaces should be added to strengthen the field of social interaction within the communities.

Keywords: Social relations, social support networks, industrial division, capital allocation, public space.

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Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

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Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: Flash Crash, Market Crash, Stock Market, Stock Market Crash.

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Authors: İsmail Karaca, Ömer Söner

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The use of advanced methods has been increasing day by day in the maritime sector, which is one of the sectors least affected by the COVID-19 pandemic. It is aimed to minimize accidents, especially by using advanced methods in the investigation of marine accidents. This research aimed to conduct an exploratory statistical analysis of particular ship accidents in the Transport Safety Investigation Center of Turkey database. 46 ship accidents, which occurred between 2010-2018, have been selected from the database. In addition to the availability of a reliable and comprehensive database, taking advantage of the robust statistical models for investigation is critical to improving the safety of ships. Thus, descriptive analysis has been used in the research to identify causes and conditional factors related to different types of ship accidents. The research outcomes underline the fact that environmental factors and day and night ratio have great influence on ship safety.

Keywords: Descriptive analysis, maritime industry, maritime safety, marine accident analysis.

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Authors: Keivan Beheshti Maal, Rasoul Shafiei, Noushin Kabiri

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Vinegar or sour wine is a product of alcoholic and subsequent acetous fermentation of sugary precursors derived from several fruits or starchy substrates. This delicious food additive and supplement contains not less than 4 grams of acetic acid in 100 cubic centimeters at 20°C. Among the large number of bacteria that are able to produce acetic acid, only few genera are used in vinegar industry most significant of which are Acetobacter and Gluconobacter. In this research we isolated and identified an Acetobacter strain from Iranian apricot, a very delicious and sensitive summer fruit to decay, we gathered from fruit's stores in Isfahan, Iran. The main culture media we used were Carr, GYC, Frateur and an industrial medium for vinegar production. We isolated this strain using a novel miniature fermentor we made at Pars Yeema Biotechnologists Co., Isfahan Science and Technology Town (ISTT), Isfahan, Iran. The microscopic examinations of isolated strain from Iranian apricot showed gram negative rods to cocobacilli. Their catalase reaction was positive and oxidase reaction was negative and could ferment ethanol to acetic acid. Also it showed an acceptable growth in 5%, 7% and 9% ethanol concentrations at 30°C using modified Carr media after 24, 48 and 96 hours incubation respectively. According to its tolerance against high concentrations of ethanol after four days incubation and its high acetic acid production, 8.53%, after 144 hours, this strain could be considered as a suitable industrial strain for a production of a new type of vinegar, apricot vinegar, with a new and delicious taste. In conclusion this is the first report of isolation and identification of an Acetobacter strain from Iranian apricot with a very good tolerance against high ethanol concentrations as well as high acetic acid productivity in an acceptable incubation period of time industrially. This strain could be used in vinegar industry to convert apricot spoilage to a beneficiary product and mentioned characteristics have made it as an amenable strain in food and agricultural biotechnology.

Keywords: Acetic Acid Bacteria, Acetobacter, Fermentation, Food and Agricultural Biotechnology, Iranian Apricot, Vinegar.

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Authors: B. Cortés, A. Boza, D. Pérez, L. Cuenca

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The Internet of Things (IoT) field has been applied in industries with different purposes. Sensing Enterprise (SE) is an attribute of an enterprise or a network that allows it to react to business stimuli originating on the Internet. These fields have come into focus recently on the enterprises, and there is some evidence of the use and implications in supply chain management, while finding it as an interesting aspect to work on. This paper presents a revision and proposals of IoT applications in supply chain management.

Keywords: Internet of Things, Sensing Enterprises, Supply Chain Management, Industrial, Production Systems, Sensor.

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Authors: Peggy S. C. van Teunenbroek

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Recently, philanthropic crowd-funding -the raising of external funding from a large audience via social networks or social media- emerged as a new funding instrument for the Dutch cultural sector. However, such philanthropic crowdfunding in the US and the Netherlands is less successful than any other form of crowdfunding. We argue that social aspects are an important stimulus in philanthropic crowd-funding since previous research has shown that crowdfunding is stimulated by something beyond financial merits. Put simply, crowd-funding seems to be a socially motivated activity. In this paper we focus on the effect of social information, described as information about the donation behavior of previous donors. Using a classroom experiment we demonstrated a positive effect of social information on the donation behavior in crowdfunding campaigns. Our study extends previous research by showing who is affected by social information and why, and highlights how social information can be used to stimulate individuals to donate more to crowdfunding projects.

Keywords: Online donation behavior, philanthropic crowd-funding, social information, social influence, social motivation.

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Authors: Young Sik Kim, Tae Kwon Ha

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This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, Energy strategy, Economic growth, Cooperation.

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Authors: M. Alizadeh, M. Mahdavi, M.H. Jouri

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The rangelands, as one of the largest dynamic biomes in the world, have very capabilities. Regulation of greenhouse gases in the Earth's atmosphere, particularly carbon dioxide as the main these gases, is one of these cases. The attention to rangeland, as cheep and reachable resources to sequestrate the carbon dioxide, increases after the Industrial Revolution. Rangelands comprise the large parts of Iran as a steppic area. Rudshur (Saveh), as area index of steppic area, was selected under three sites include long-term exclosure, medium-term exclosure, and grazable area in order to the capable of carbon dioxide’s sequestration of dominated species. Canopy cover’s percentage of two dominated species (Artemisia sieberi Besser & Stipa barbata Desf) was determined via establishing of random 1 square meter plot. The sampling of above and below ground biomass style was obtained by complete random. After determination of ash percentage in the laboratory; conversion ratio of plant biomass to organic carbon was calculated by ignition method. Results of the paired t-test showed that the amount of carbon sequestration in above ground and underground biomass of Artemisia sieberi Besser & Stipa barbata Desf is different in three regions. It, of course, hasn’t any difference between under and surface ground’s biomass of Artemisia sieberi Besser in long-term exclosure. The independent t-test results indicate differences between underground biomass corresponding each other in the studied sites. Carbon sequestration in the Stipa barbata Desf was totally more than Artemisia sieberi Besser. Altogether, the average sequestration of the long-term exclosure was 5.842gr/m², the medium-term exclosure was 4.115gr/m², and grazable area was 5.975gr/m² so that there isn’t valuable statistical difference in term of total amount of carbon sequestration to three sites.

Keywords: Carbon sequestration, the Industrial Revolution, greenhouse gases, Artemisia sieberi Besser, Stipa barbata Desf, steppic rangelands

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Authors: Subarna Ferdous, Mitsuru Ikeda

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For the shrimp companies to remain relevant to its local and international consumers, they must offer new shrimp product and services. It must work actively not just to create value for the consumer, but to involve the consumer in co-creating value for shrimp product innovation in the market. In this theoretical work, we conceptualize the business concept of value co-creation in the context of shrimp products, and propose a framework of value co-creation for shrimp product innovation in shrimp industries. With guidance on value co-creation in in shrimp industry, and shrimp value chain actors mapped to the co-creation cycle, companies can use the framework to offer new shrimp product to consumer communities. Although customer co-creation is known approach in the world, it is not commonly used by the companies in Bangladesh. This paper makes an original contribution by conceptualizing co-creation and set the examples of best co-creation practices in food sector. The results of the study provide management with guidelines for successful co-creation projects with an innovation- and market-oriented approach. The framework also provides a basis for further research in this area.

Keywords: Bangladesh, shrimp industry, shrimp product, value co-creation.

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Authors: Alhaji M. H Conteh, Xiangbin Yan, Alfred V Gborie

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The crop rice is the staple food of most Sierra Leone with no close substitute. However, its cultivation has been on its last legs over the years. The decline in the domestic rice cultivation has had vicious socio-economic implications such as hiking consumer prices, balance of payment dilemmas with debt burden. The objective of this study is thus, to assess the effect of the shift of rural labour towards non-agricultural sectors on rice cultivation. The tools utilized for analyzing the problem under consideration involved a thorough descriptive statistics and generalized linear model using OLS technique. Increased rural population was established positive and significant in affecting rice cultivation. Fertilizer utilization was insignificant in rice cultivation. For reducing the shift of rural labor force towards nonagricultural sectors, the government should make the agricultural sector very lucrative.

Keywords: Regression Model, Rice Cultivation, Rural Migration, Sierra Leone.

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Authors: Sandhya, Rajbir Singh, Ramesh Kumar

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The purpose of this research paper on the subject of Leadership Effectiveness attempts to conduct a focused amount of research to examine the employees’ perceptions pertaining to specific competencies of leadership effectiveness in Indian manufacturing industries and to correlate their perceptions between private sectors and public sector undertakings. It specifically looks at the current definitions of leadership and looks at some historical background information relating to the more common theories that relate to leadership and effectiveness. This research was conducted by using a variety of current books and periodical articles on the topic of leadership effectiveness and employees’ perceptions. A number of leadership effectiveness competencies have been identified. The demographic details and perception of the employees on importance of leadership effectiveness competencies have been obtained through a well designed online questionnaire. For this purpose, a likert scale of seven-point has been used. Descriptive and inferential statistics is used to analyze the gathered data.

Keywords: Employees Perception, Leadership Effectiveness, Leadership Competencies, Manufacturing.

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Authors: Redha Elhuni, M. Munir Ahmad

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The main purpose of this research is to construct a generic model for successful implementation of Total Quality Management (TQM) in Oil sector, and to find out the effects of this model on the organizational sustainability development (OSD) performance of Libyan oil and gas companies using the structured equation modeling (SEM) approach. The research approach covers both quantitative and qualitative methods. A questionnaire was developed in order to identify the quality factors that are seen by Libyan oil and gas companies to be critical to the success of TQM implementation. Hypotheses were developed to evaluate the impact of TQM implementation on O SD. Data analysis reveals that there is a significant positive effect of the TQM implementation on OSD. 24 quality factors are found to be critical and absolutely essential for successful TQM implementation. The results generated a structure of the TQMSD implementation framework based on the four major road map constructs (Top management commitment, employee involvement and participation, customer-driven processes, and continuous improvement culture).

Keywords: TQM, CQFs, Oil & Gas, OSD, Libya.

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Authors: K. Krishna Milan Rao, Nelvin Joseph, Praveen Dwarakanath

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Augmented and Virtual Realties is quickly becoming a hotbed of activity with millions of dollars being spent on R & D and companies such as Google and Microsoft rushing to stake their claim. Augmented reality (AR) is however marching ahead due to the spread of the ideal AR device – the smartphone. Despite its potential, there remains a deep digital divide between the Developed and Developing Countries. The Technological Acceptance Model (TAM) and Hofstede cultural dimensions also predict the behaviour intention to uptake AR in India will be large. This paper takes a quantified approach by collecting 340 survey responses to AR scenarios and analyzing them through statistics. The Survey responses show that the Intention to Use, Perceived Usefulness and Perceived Enjoyment dimensions are high among the urban population in India. This along with the exponential smartphone indicates that India is on the cusp of a boom in the AR sector.

Keywords: Mobile augmented reality, technology acceptance model, Hofstede, cultural dimensions, India.

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Authors: D. A. Farinde

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One of the most significant threats to the economy of a nation is the bankruptcy of its banks. This study evaluates the susceptibility of Nigerian banks to failure with a view to identifying ratios and financial data that are sensitive to solvency of the bank. Further, a predictive model is generated to guide all stakeholders in the industry. Thirty quoted banks that had published Annual Reports for the year preceding the consolidation i.e. year 2004 were selected. They were examined for distress using the Multilayer Perceptron Neural Network Analysis. The model was used to analyze further reforms by the Central Bank of Nigeria using published Annual Reports of twenty quoted banks for the year 2008 and 2011. The model can thus be used for future prediction of failure in the Nigerian banking system.

Keywords: Bank, Bankruptcy, Financial Ratios, Neural Network, Multilayer Perceptron, Predictive Model

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Authors: Victor Oluwaseyi Olowonisi

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The paper aimed at presenting an overview on the concept of e-learning as it relates to higher education and how it provides opportunities for students, instructors and the government in developing the educational sector. It also touched on the benefits and challenges attached to e-learning as a new medium of reaching more students especially in the Nigerian context. The opportunities attributed to e-learning in the paper includes breaking boundaries barriers, reaching a larger number of students, provision of jobs for ICT experts, etc. In contrary, poor power supply, cost of implementation, poor computer literacy, technophobia (fear of technology), computer crime and system failure were some of the challenges of e-learning discussed in the paper. The paper proffered that the government can help the people gain more from e-learning through its financing. Also, it was stated that instructors/lecturers and students need to undergo training on computer application in order for e-learning to be more effective in developing higher education in Nigeria.

Keywords: E-Learning, education, higher education, increasing literacy.

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Authors: F. May Liou, Y. C. Edwin Tang

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This paper aims to provide a conceptual framework to examine competitive disadvantage of banks that suffer from poor performance. Banks generate revenues mainly from the interest rate spread on taking deposits and making loans while collecting fees in the process. To maximize firm value, banks seek loan growth and expense control while managing risk associated with loans with respect to non-performing borrowers or narrowing interest spread between assets and liabilities. Competitive disadvantage refers to the failure to access imitable resources and to build managing capabilities to gain sustainable return given appropriate risk management. This paper proposes a four-quadrant framework of organizational typology is subsequently proposed to examine the features of competitive disadvantage in the banking sector. A resource configuration model, which is extracted from CAMEL indicators to examine the underlying features of bank failures.

Keywords: Bank failure, CAMEL, competitive disadvantage, resource configuration.

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Authors: Abdullah Madhi Alsharif, Jamal Uddin

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A liquid curved jet has many applications in different industrial and engineering processes, such as the prilling process for generating small spherical pellets (fertilizer or magnesium). The liquids used are usually molten and contain small quantities of polymers and therefore can be modelled as non-Newtonian liquids. In this paper, we model the viscoelastic liquid jet by using the Oldroyd- B model. An asymptotic analysis has been used to simplify the governing equations. Furthermore, the trajectory and a linear temporal stability in the presence of gravity and rotation have been determined.

Keywords: gravity, prilling, rotation, viscoelastic jets.

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Authors: Jerry Szatko, Edan L. Jorgensen, Stacia Jorgensen

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A crucial component to the success of any financial advising relationship is for the financial professional to understand the perceptions, preferences and thought-processes carried by the financial clients they serve. Armed with this information, financial professionals are more quickly able to understand how they can tailor their approach to best match the individual preferences and needs of each personal investor. Our research explores the use of a quantitative assessment tool in the financial services industry to assist in the identification of the personal investor’s consumer behaviors, especially in terms of financial risk tolerance, as it relates to their financial decision making. Through this process, the Unitifi Consumer Insight Tool (UCIT) was created and refined to capture and categorize personal investor financial behavioral categories and the financial personality tendencies of individuals prior to the initiation of a financial advisement relationship. This paper discusses the use of this tool to place individuals in one of four behavior-based financial risk tolerance categories. Our discoveries and research were aided through administration of a web-based survey to a group of over 1,000 individuals. Our findings indicate that it is possible to use a quantitative assessment tool to assist in predicting the behavioral tendencies of personal consumers when faced with consumer financial risk and decisions.

Keywords: Behavior based advising, behavioral finance, financial advising, financial advisor tools, financial risk tolerance.

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Authors: M. Pisol B Mat Isa, Asmak Ab Rahman, Hezlina Bt M Hashim, Abd Mutalib B Embong

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Al-Murabahah is an Islamic financing facility used in asset financing, the profit rate of the contract is determined by components which are also being used in the conventional banking. Such are cost of fund, overhead cost, risk premium cost and bank-s profit margin. At the same time, the profit rate determined by Islamic banking system also refers to Inter-Bank Offered Rate (LIBOR) in London as a benchmark. This practice has risen arguments among Muslim scholars in term of its validity of the contract; whether the contract maintains the Shariah compliance or not. This paper aims to explore the view of Shariah towards the above components practiced by Islamic Banking in determining the profit rate of al-murabahah asset financing in Malaysia. This is a comparative research which applied the views of Muslim scholars from all major mazahibs in Islamic jurisprudence and examined the practices by Islamic banks in Malaysia for the above components. The study found that the shariah accepts all the components with conditions. The cost of fund is accepted as a portion of al-mudarabah-s profit, the overhead cost is accepted as a cost of product, risk premium cost consist of business risk and mitigation risk are accepted through the concept of alta-awun and bank-s profit margin is accepted as a right of bank after venturing in risky investment.

Keywords: Islamic banking, Islamic finance, al-murabahah and asset financing

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Authors: Rafenomananjara Tsinjo Nirina, Tomoo Sekito, Andrianaivoravelona Jaconnet Oliva

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Manufacturing a composite material from post-consumer bottles is an interesting outlet since Madagascar is still facing the challenges of managing plastic waste on the one hand and appropriate waste treatment facilities are not yet developed on the other hand. New waste management options are needed to divert End-Of-Life (EOL) soft plastic wastes from landfills and incineration. Waste polyethylene terephthalate (PET) bottles might be considered as a valuable resource and recovered into polymer concrete. The methodology is easy to implement and appropriate to the local context in Madagascar. This approach will contribute to the production of ecological building materials that might be profitable for the environment and the construction sector. This work aims to study the feasibility of using the post-consumer PET bottles as an alternative binding agent instead of the conventional Portland cement and water. Then, the mechanical and physical properties of the materials were evaluated.

Keywords: PET recycling, polymer concrete, ecological building materials, pollution mitigation.

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