Search results for: Central Bank

Authors: Sama’ila Idi Ningi, Abubakar Yusuf Dutse

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The banking sector poses a lot of problems in Nigeria in general and the non-oil export sector in particular. The banks' lack effectiveness in handling small, medium or long-term credit risk (lack of training of loan officers, lack of information on borrowers and absence of a reliable credit registry) results in non-oil exporters being burdened with high requirements, such as up to three years of financial statements, enough collateral to cover both the loan principal and interest (including a cash deposit that may be up to 30% of the loans' net present value), and to provide every detail of the international trade transaction in question. The stated problems triggered this research. Consequently, information on bank financing of non-oil exports was collected from 100 respondents from the 20 Deposit Money Banks (DMBs) in Nigeria. The data was analysed by the use of descriptive statistics correlation and regression. It is found that, Nigerian banks are participants in the financing of non-oil exports. Despite their participation, the rate of interest for credit extended to non-oil export is usually high, ranging between 15-20%. Small and medium sized non-oil export businesses lack the credit history for banks to judge them as reputable. Banks also consider the non-oil export sector very risky for investment. The banks actually do grant less credit than the exporters may require and therefore are not properly funded by banks. Banks grant very low volume of foreign currency loan in addition to, unfavorable exchange rate at which Naira is exchanged to the Dollar and other currencies in the country. This makes importation of inputs costly and negatively impacted on the non-oil export performance in Nigeria.

Keywords: Supply Side Factors, Bank Financing, Non-Oil Exports.

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Authors: Nhien-An Le-Khac, Sammer Markos, M-Tahar Kechadi

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Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most international financial institutions have been implementing anti-money laundering solutions (AML) to fight investment fraud. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project for the purpose of developing a new solution for the AML Units in an international investment bank, we proposed a data mining-based solution for AML. In this paper, we present a heuristics approach to improve the performance for this solution. We also show some preliminary results associated with this method on analysing transaction datasets.

Keywords: data mining, anti money laundering, clustering, heuristics.

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Authors: Milan Rippel, Petr Teply

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This paper focuses on operational risk measurement techniques and on economic capital estimation methods. A data sample of operational losses provided by an anonymous Central European bank is analyzed using several approaches. Loss Distribution Approach and scenario analysis method are considered. Custom plausible loss events defined in a particular scenario are merged with the original data sample and their impact on capital estimates and on the financial institution is evaluated. Two main questions are assessed – What is the most appropriate statistical method to measure and model operational loss data distribution? and What is the impact of hypothetical plausible events on the financial institution? The g&h distribution was evaluated to be the most suitable one for operational risk modeling. The method based on the combination of historical loss events modeling and scenario analysis provides reasonable capital estimates and allows for the measurement of the impact of extreme events on banking operations.

Keywords: operational risk, scenario analysis, economic capital, loss distribution approach, extreme value theory, stress testing

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Authors: Hamid Reza Boveiri

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In this paper, a new proposed system for Persian printed numeral characters recognition with emphasis on representation and recognition stages is introduced. For the first time, in Persian optical character recognition, geometrical central moments as character image descriptor and fuzzy min-max neural network for Persian numeral character recognition has been used. Set of different experiments on binary images of regular, translated, rotated and scaled Persian numeral characters has been done and variety of results has been presented. The best result was 99.16% correct recognition demonstrating geometrical central moments and fuzzy min-max neural network are adequate for Persian printed numeral character recognition.

Keywords: Fuzzy min-max neural network, geometrical centralmoments, optical character recognition, Persian digits recognition, Persian printed numeral characters recognition.

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Authors: D. R. Patil, U. Gudaru

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Most electrical distribution systems are incurring large losses as the loads are wide spread, inadequate reactive power compensation facilities and their improper control. A typical static VAR compensator consists of capacitor bank in binary sequential steps operated in conjunction with a thyristor controlled reactor of the smallest step size. This SVC facilitates stepless control of reactive power closely matching with load requirements so as to maintain power factor nearer to unity. This type of SVC-s requiring a appropriately controlled TCR. This paper deals with an air cored reactor suitable for distribution transformer of 3phase, 50Hz, Dy11, 11KV/433V, 125 KVA capacity. Air cored reactors are designed, built, tested and operated in conjunction with capacitor bank in five binary sequential steps. It is established how the delta connected TCR minimizes the harmonic components and the operating range for various electrical quantities as a function of firing angle is investigated. In particular firing angle v/s line & phase currents, D.C. components, THD-s, active and reactive powers, odd and even triplen harmonics, dominant characteristic harmonics are all investigated and range of firing angle is fixed for satisfactory operation. The harmonic spectra for phase and line quantities at specified firing angles are given. In case the TCR is operated within the bound specified in this paper established through simulation studies are yielding the best possible operating condition particularly free from all dominant harmonics.

Keywords: Binary Sequential switched capacitor bank, TCR, Nontriplen harmonics, step less Q control, Active and Reactivepower, Simulink

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Authors: Iveta Řepková

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The aim of this paper is to estimate the efficiency of the Slovak commercial banks employing the Data Envelopment Analysis (DEA) window analysis approach during the period 2003-2012. The research is based on unbalanced panel data of the Slovak commercial banks. Undesirable output was included into analysis of banking efficiency. It was found that most efficient banks were Postovabanka, UniCredit Bank and Istrobanka in CCR model and the most efficient banks were Slovenskasporitelna, Istrobanka and UniCredit Bank in BCC model. On contrary, the lowest efficient banks were found Privatbanka and CitiBank. We found that the largest banks in the Slovak banking market were lower efficient than medium-size and small banks. Results of the paper is that during the period 2003-2008 the average efficiency was increasing and then during the period 2010-2011 the average efficiency decreased as a result of financial crisis.

Keywords: Data Envelopment Analysis, efficiency, Slovak banking sector, window analysis.

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Authors: Napat Watjanatepin, Wikorn Wong-SatieanNapat Watjanatepin, Wikorn Wong-Satiean

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The objective of this research is to design and construct the PV-Wind hybrid autonomous system for the greenhouse plantation, and analyze the technical performance of the PV-Wind energy system. This design depends on the water consumption in the greenhouse by using 24 of the fogging mist each with the capability of 24 liter/min. The operating time is 4 times per day, each round for 15 min. The fogging system is being driven by water pump with AC motor rating 0.5 hp. The load energy consumed is around 1.125 kWh/d. The designing results of the PV-Wind hybrid energy system is that sufficient energy could be generated by this system. The results of this study can be applied as a technical data reference for other areas in the central part of Thailand.

Keywords: Central part of Thailand, fogging system, greenhouse plantation, PV-Wind hybrid autonomous system.

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Authors: Ayad Sleibi Mustafa, Ahmed Abdulkadhim Mohsin, Layth Noori Ali

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The deterioration of solid waste management in Baghdad city is considered as a great challenge in terms of human health and environment. Baghdad city is divided into thirteen districts which are distributed on both Tigris River banks. The west bank is Al-Karkh and the east bank is Al-Rusafa. Municipal Solid Waste Management is one of the most complicated problems facing the environment in Iraq. Population growth led to increase waste production and more load of the waste to the limited capacity infrastructure. The problems of municipal solid waste become more serious after the war in 2003. More waste is disposed in underground landfills in Baghdad with little or no concern for both human health and environment. The results showed that the total annually predicted solid waste is increasing for the period 2015-2030. Municipal solid waste in 2030 will be 6,427,773 tons in Baghdad city according to the population growth rate of 2.4%. This increase is estimated to be approximately 30%.

Keywords: Municipal solid waste, solid waste composition and characteristics, Baghdad city, environment, human health.

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Authors: M. Okan Tasar

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Basel III (or the Third Basel Accord) is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision in 2010-2011, and scheduled to be introduced from 2013 until 2018. Basel III is a comprehensive set of reform measures. These measures aim to; (1) improve the banking sector-s ability to absorb shocks arising from financial and economic stress, whatever the source, (2) improve risk management and governance, (3) strengthen banks- transparency and disclosures. Similarly the reform target; (1) bank level or micro-prudential, regulation, which will help raise the resilience of individual banking institutions to periods of stress. (2) Macro-prudential regulations, system wide risk that can build up across the banking sector as well as the pro-cyclical implication of these risks over time. These two approaches to supervision are complementary as greater resilience at the individual bank level reduces the risk system wide shocks. Macroeconomic impact of Basel III; OECD estimates that the medium-term impact of Basel III implementation on GDP growth is in the range -0,05 percent to -0,15 percent per year. On the other hand economic output is mainly affected by an increase in bank lending spreads as banks pass a rise in banking funding costs, due to higher capital requirements, to their customers. Consequently the estimated effects on GDP growth assume no active response from monetary policy. Basel III impact on economic output could be offset by a reduction (or delayed increase) in monetary policy rates by about 30 to 80 basis points. The aim of this paper is to create a framework based on the recent regulations in order to prevent financial crises. Thus the need to overcome the global financial crisis will contribute to financial crises that may occur in the future periods. In the first part of the paper, the effects of the global crisis on the banking system examine the concept of financial regulations. In the second part; especially in the financial regulations and Basel III are analyzed. The last section in this paper explored the possible consequences of the macroeconomic impacts of Basel III.

Keywords: Banking Systems, Basel III, Financial regulation, Global Financial Crisis.

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Authors: Munnujahan Ara

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In this paper, we investigate the effect of friendly jamming power allocation strategies on the achievable average secrecy rate over a bank of parallel fading wiretap channels. We investigate the achievable average secrecy rate in parallel fading wiretap channels subject to Rayleigh and Rician fading. The achievable average secrecy rate, due to the presence of a line-of-sight component in the jammer channel is also evaluated. Moreover, we study the detrimental effect of correlation across the parallel sub-channels, and evaluate the corresponding decrease in the achievable average secrecy rate for the various fading configurations. We also investigate the tradeoff between the transmission power and the jamming power for a fixed total power budget. Our results, which are applicable to current orthogonal frequency division multiplexing (OFDM) communications systems, shed further light on the achievable average secrecy rates over a bank of parallel fading channels in the presence of friendly jammers.

Keywords: Fading parallel channels, Wire-tap channel, OFDM, Secrecy capacity, Power allocation.

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Authors: Barau Daniel, Bashayi Obadiah

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A spatial analysis of a large 20th century urban settlement (town/city) easily presents the celebrated central Business District (CBD). Theories of Urban Land Economics have easily justified and attempted to explain the existence of such a district activity area within the cityscape. This work examines the gradual emergence and development of the CBD in Lafia Town, Nigeria over 20 years and the attended urban problems caused by its emergence. Personal knowledge and observation of land use change are the main sources of data for the work, with unstructured interview with residents. The result are that the absence of a co-ordinate land use plan for the town, multi-nuclei nature, and regional location of surrounding towns have affected the growth pattern, hence the CBD. Traffic congestion, dispersed CBD land uses are some of the urban planning problems. The work concludes by advocating for integrating CBD uses.

Keywords: Urban planning, Central Business District (CBD), downtown.

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Authors: M. van der Bank, C. M. van der Bank

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Alternative Dispute Resolution denotes all forms of dispute resolution other than litigation or adjudication through the courts. This definition of Alternative Dispute Resolution, however, makes no mention of a vital consideration. ADR is the generally accepted acronym for alternative dispute resolution. Despite the choice not to proceed before a court or statutory tribunal, ADR will still be regulated by law and by the Constitution. Fairness is one of the core values of the South African constitutional order. Environmental disputes occur frequently, but due to delays and costs, ADR is a mechanism to resolve this kind of disputes which is a resolution of non-judicial mechanism. ADR can be used as a mechanism in environmental disputes that are less expensive and also more expeditious than formal litigation. ADR covers a broad range of mechanisms and processes designed to assist parties in resolving disputes creatively and effectively. In so far as this may involve the selection or design of mechanisms and processes other than formal litigation, these mechanisms and processes are not intended to supplant court adjudication, but rather to supplement it. A variety of ADR methods have been developed to deal with numerous problems encountered during environmental disputes. The research questions are: How can ADR facilitate environmental disputes in South Africa? Are they appropriate? And what improvements should be made?

Keywords: Alternative dispute, environmental disputes, non-judicial, resolution and settlement.

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Authors: Z. Zaman Asam, M. Ajmal, R. Saeed, H. Miraj, M. Muhammad Ahtisham, B. Hameed, A. -Sattar Nizami

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In Pakistan, environmental degradation and consequent human health deterioration has rapidly accelerated in the past decade due to solid waste mismanagement. As the situation worsens with time, establishment of proper waste management practices is urgently needed especially in semi urban and rural areas of Pakistan. This study uses a concept of Waste Bank, which involves a transfer station for collection of sorted waste fractions and its delivery to the targeted market such as recycling industries, biogas plants, composting facilities etc. The management efficiency and effectiveness of Waste Bank depend strongly on the proficient sorting and collection of solid waste fractions at household level. However, the social attitude towards such a solution in semi urban/rural areas of Pakistan demands certain prerequisites to make it workable. Considering these factors the objectives of this study are to: [A] Obtain reliable data about quantity and characteristics of generated waste to define feasibility of business and design factors, such as required storage area, retention time, transportation frequency of the system etc. [B] Analyze the effects of various social factors on waste generation to foresee future projections. [C] Quantify the improvement in waste sorting efficiency after awareness campaign. We selected Gujrat city of Central Punjab province of Pakistan as it is semi urban adjoined by rural areas. A total of 60 houses (20 from each of the three selected colonies), belonging to different social status were selected. Awareness sessions about waste segregation were given through brochures and individual lectures in each selected household. Sampling of waste, that households had attempted to sort, was then carried out in the three colored bags that were provided as part of the awareness campaign. Finally, refined waste sorting, weighing of various fractions and measurement of dry mass was performed in environmental laboratory using standard methods. It was calculated that sorting efficiency of waste improved from 0 to 52% as a result of the awareness campaign. The generation of waste (dry mass basis) on average from one household was 460 kg/year whereas per capita generation was 68 kg/year. Extrapolating these values for Gujrat Tehsil, the total waste generation per year is calculated to be 101921 tons dry mass (DM). Characteristics found in waste were (i) organic decomposable (29.2%, 29710 tons/year DM), (ii) recyclables (37.0%, 37726 tons/year DM) that included plastic, paper, metal and glass, and (iii) trash (33.8%, 34485 tons/year DM) that mainly comprised of polythene bags, medicine packaging, pampers and wrappers. Waste generation was more in colonies with comparatively higher income and better living standards. In future, data collection for all four seasons and improvements due to expansion of awareness campaign to educational institutes will be quantified. This waste management system can potentially fulfill vital sustainable development goals (e.g. clean water and sanitation), reduce the need to harvest fresh resources from the ecosystem, create business and job opportunities and consequently solve one of the most pressing environmental issues of the country.

Keywords: Integrated solid waste management, waste segregation, waste bank, community development.

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Authors: Pei-Chun Lee, Sheng-Shih Wang, Pei-Hsuan Ku

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Many existing amusement parks have been operated with assistance of a variety of information and communications technologies to design friendly and efficient service systems for tourists. However, these systems leave various levels of decisions to tourists to make by themselves. This incurs pressure on tourists and thereby bringing negative experience in their tour. This paper proposes a smart amusement park system to offer each tourist the GPS-based customized plan without tourists making decisions by themselves. The proposed system consists of the mobile app subsystem, the central subsystem, and the detecting/counting subsystem. The mobile app subsystem interacts with the central subsystem. The central subsystem performs the necessary computing and database management of the proposed system. The detecting/counting subsystem aims to detect and compute the number of visitors to an attraction. Experimental results show that the proposed system can not only work well, but also provide an innovative business operating model for owners of amusement parks.

Keywords: Amusement park, location-based service (LBS), mobile app, tourist service.

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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: Inom S. Normatov, Abulqosim Muminov, Parviz I. Normatov

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Problems of food security and the preservation of reserved zones in the region of Central Asia under the conditions of the climate change induced by the placement and construction of large reservoirs are considered. The criteria for the optimum placement and construction of reservoirs that entail the minimum impact on the environment are established. The need for the accounting of climatic parameters is shown by the calculation of the water quantity required for the irrigation of agricultural lands.

Keywords: Reservoir, Central Asia, food, reserved zones, adaptation, agriculture.

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Authors: Aspalella A. Rahman

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Money laundering has been described by many as the lifeblood of crime and is a major threat to the economic and social well-being of societies. It has been recognized that the banking system has long been the central element of money laundering. This is in part due to the complexity and confidentiality of the banking system itself. It is generally accepted that effective anti-money laundering (AML) measures adopted by banks will make it tougher for criminals to get their "dirty money" into the financial system. In fact, for law enforcement agencies, banks are considered to be an important source of valuable information for the detection of money laundering. However, from the banks- perspective, the main reason for their existence is to make as much profits as possible. Hence their cultural and commercial interests are totally distinct from that of the law enforcement authorities. Undoubtedly, AML laws create a major dilemma for banks as they produce a significant shift in the way banks interact with their customers. Furthermore, the implementation of the laws not only creates significant compliance problems for banks, but also has the potential to adversely affect the operations of banks. As such, it is legitimate to ask whether these laws are effective in preventing money launderers from using banks, or whether they simply put an unreasonable burden on banks and their customers. This paper attempts to address these issues and analyze them against the background of the Malaysian AML laws. It must be said that effective coordination between AML regulator and the banking industry is vital to minimize problems faced by the banks and thereby to ensure effective implementation of the laws in combating money laundering.

Keywords: Banking Industry, Bank Negara Money, Laundering, Malaysia.

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Authors: Sobir T. Navruzov

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The problem of complex use of water resources in Central Asia by taking into consideration the sovereignty of the states and increasing demand on use of water for economic aspects are considered. Complex program with appropriate mathematical software intended for calculation of possible variants of using the Amudarya up-stream water resources according to satisfaction of incompatible requirements of the national economics in irrigation and energy generation is proposed.

Keywords: water resources, national economics, irrigation, transboundry, energy generation, optimal solution, program complex, up-stream, down-stream, compensating services.

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Authors: A. Nuchitprasittichai, N. Lerdritsirikoon, T. Khamsing

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Simulation modeling can be used to solve real world problems. It provides an understanding of a complex system. To develop a simplified model of process simulation, a suitable experimental design is required to be able to capture surface characteristics. This paper presents the experimental design and algorithm used to model the process simulation for optimization problem. The CO₂ liquefaction based on external refrigeration with two refrigeration circuits was used as a simulation case study. Latin Hypercube Sampling (LHS) was purposed to combine with existing Central Composite Design (CCD) samples to improve the performance of CCD in generating the second order model of the system. The second order model was then used as the objective function of the optimization problem. The results showed that adding LHS samples to CCD samples can help capture surface curvature characteristics. Suitable number of LHS sample points should be considered in order to get an accurate nonlinear model with minimum number of simulation experiments.

Keywords: Central composite design, CO2 liquefaction, Latin Hypercube Sampling, simulation – based optimization.

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Authors: Kenneth M. Oba

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This study investigated factors affecting the price of cement in Nigeria, and developed a mathematical model that can predict future cement prices. Cement is key in the Nigerian construction industry. The changes in price caused by certain factors could affect economic and infrastructural development; hence there is need for proper proactive planning. Secondary data were collected from published information on cement between 2014 and 2019. In addition, questionnaires were sent to some domestic cement retailers in Port Harcourt in Nigeria, to obtain the actual prices of cement between the same periods. The study revealed that the most critical factors affecting the price of cement in Nigeria are inflation rate, population growth rate, and Gross Domestic Product (GDP) growth rate. With the use of data from United Nations, International Monetary Fund, and Central Bank of Nigeria databases, amongst others, a Multiple Linear Regression model was formulated. The model was used to predict the price of cement for 2020-2025. The model was then tested with 95% confidence level, using a two-tailed t-test and an F-test, resulting in an R² of 0.8428 and R² (adj.) of 0.6069. The results of the tests and the correlation factors confirm the model to be fit and adequate. This study will equip researchers and stakeholders in the construction industry with information for planning, monitoring, and management of present and future construction projects that involve the use of cement.

Keywords: Cement price, multiple linear regression model, Nigerian Construction Industry, price prediction.

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Authors: Nguyen Viet Tan

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The Bahnar is one of 11 indigenous groups living in the Central Highlands of Vietnam. It is one among the four most popular groups in this area, including the Mnong who speak the same language of Mon Khmer family, while both groups of the Jrai and the Rhade belong to the Malayo-Polynesian language family. These groups once captured fertile plateaus, left their cultural and artistic heritage which affected the remaining small groups. Despite the difference in ethnic origins, these groups seem to share similar beliefs, customs and related folk arts after a very long time living beside each other. However, through an in-depth study, this paper points out the fact that the decorative patterns used by the Bahnar are different from the other ethnic groups, especially in color. Based on historical materials from the local museums and some studies in 1980s when all of the ethnic groups in this area had still lived in self-sufficient condition, this paper characterizes the traditional color scheme used by the Bahnar and identifies the difference in decorative motifs of this group compared to the others by pointing out they do not use green in their usual decorative patterns. Moreover, combined with some field surveys recently, through comparative analysis, it also discovers stylistic variations of these patterns in the process of cultural exchange with the other ethnic groups, both in and out of the region, in modern living conditions. This study helps to preserve and promote the traditional values and cultural identity of the Bahnar people in the Central Highlands of Vietnam, avoiding the fusion of styles among groups during the cultural exchange.

Keywords: Bahnar ethic group, decorative patterns, the central highland of Vietnam, traditional color scheme.

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Authors: Ime R. Udotong, Justina I. R. Udotong, Ofonime U. M. John

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Brass terminal, one of the several crude oil and petroleum products storage/handling facilities in the Niger Delta was built in the 1980s. Activities at this site, over the years, released crude oil into this 3 m-deep, 1500 m-long canal lying adjacent to the terminal with oil floating on it and its sediment heavily polluted. To ensure effective clean-up, three major activities were planned: site characterization, bioremediation pilot plant construction and testing and full-scale bioremediation of contaminated sediment / bank soil by land farming. The canal was delineated into 12 lots and each characterized, with reference to the floating oily phase, contaminated sediment and canal bank soil. As a result of site characterization, a pilot plant for on-site bioremediation was designed and a treatment basin constructed for carrying out pilot bioremediation test. Following a designed sampling protocol, samples from this pilot plant were collected for analysis at two laboratories as a quality assurance / quality control check. Results showed that Brass Canal upstream is contaminated with dark, thick and viscous oily film with characteristic hydrocarbon smell while downstream, thin oily film interspersed with water was observed. Sediments were observed to be dark with mixture of brownish sandy soil with TPH ranging from 17,800 mg/kg in Lot 1 to 88,500 mg/kg in Lot 12 samples. Brass Canal bank soil was observed to be sandy from ground surface to 3m, below ground surface (bgs) it was silty-sandy and brownish while subsurface soil (4-10m bgs) was sandy-clayey and whitish/grayish with typical hydrocarbon smell. Preliminary results obtained so far have been very promising but were proprietary. This project is considered, to the best of technical literature knowledge, the first large-scale on-site bioremediation project in the Niger Delta region, Nigeria.

Keywords: Bioremediation, Contaminated sediment, Land farming, Oily sludge, Oil Terminal.

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Authors: Mara Gubaidullina, Aigerim Yelibayeva

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The Shanghai Cooperation Organization is one of the successful outcomes of China's foreign policy since the end of the Cold war. The expansion of multilateral ties all over the world by dint of pursuing institutional strategies as SCO, identify China as a more constructive power. SCO became a new model of cooperation that was formed on remains of collapsed Soviet system, and predetermined China's geopolitical role in the region. As the fast developing effective regional mechanism, SCO today has more of external impact on the international system and forms a new type of interaction for promoting China's grand strategy of 'peaceful rise'.

Keywords: Central Asia, China's grand strategy, Shanghai Cooperation Organization.

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Authors: Nwobu Obiamaka, Owolabi Akintola

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This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.

Keywords: Governance, organizations, reporting, sustainability.

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Authors: Francis O. Iyoha, Daniel E. Gberevbie, Charles T. Iruonagbe, Matthew E. Egharevba

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Cost of governance in Nigeria has become a challenge to development and concern to practitioners and scholars alike in the field of business and social science research. In the 2010 national budget of NGN4.6 trillion or USD28.75billion for instance, only a pantry sum of NGN1.8trillion or USD11.15billion was earmarked for capital expenditure. Similarly, in 2013, out of a total national budget of NGN4.92trillion or USD30.75billion, only the sum of NGN1.50trllion or USD9.38billion was voted for capital expenditure. Therefore, based on the data sourced from the Nigerian Office of Statistics, Central bank of Nigeria Statistical Bulletin as well as from the United Nations Development Programme, this study examined the causes of high cost of governance in Nigeria. It found out that the high cost of governance in the country is in the interest of the ruling class, arising from their unethical behaviour – corrupt practices and the poor management of public resources. As a result, the study recommends the need to intensify the war against corruption and mismanagement of public resources by government officials as possible solution to overcome the high cost of governance in Nigeria. This could be achieved by strengthening the constitutional powers of the various anti-corruption agencies in the area of arrest, investigation and prosecution of offenders without the interference of the executive arm of government either at the local, state or federal level.

Keywords: Capital expenditure, Cost of governance, recurrent expenditure, unethical behaviour.

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Authors: Ahmad Javid Habib, Tetsuo Kidokoro

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There is an increasing demand for developing urban land to provide better living conditions for all citizens in Afghanistan. Most of the development will involve the acquisition of land. And the current land acquisition method practiced by central government is expropriation, which is a cash-based transaction method that imposes heavy fiscal burden on local municipalities and central government, and it does not protect ownership rights and social equity of landowners besides it relocates the urban poor to remote areas with limited access to jobs and public services. The questionnaire analysis, backed by observations of different case studies in countries where land readjustment is used as a collaborative land development tool indicates that the method plays a key role in valuing landowners’ rights, giving other community members and stakeholders the opportunity to collaboratively implement urban development projects. The practice of the method is reducing the heavy fiscal burden on the local and central governments and is a better option to deal with the current development challenges in Afghanistan.

Keywords: Collaboration, land readjustment, master plan, expropriation.

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Authors: N. Maksimentseva

Abstract:

The issue of public administration in subsoil use, renewal and protection is of high importance for Ukraine since it is strongly linked to energy security of the state as well as it shall facilitate the people of Ukraine to efficiently implement its propitiatory rights towards natural resources and redistribution of national wealth. As it is stipulated in the Article 11 of the Subsoil Code of Ukraine (the Code) the authorities that administer the industry are limited to central executive bodies and local governments. In particular, it is stipulated in the Code that the Ukraine’s Cabinet of Ministers carries out public administration in geological exploration, production and protection of subsoil. Other state bodies of public administration include central public authority responsible for state environmental protection policies; central public authority in charge of implementation of state geological exploration and efficient subsoil use policies; central authority in charge of state health and safety control policies. There are also public authorities in the Autonomous Republic of Crimea; local executive bodies and other state authorities and local self-government authorities in compliance with laws of Ukraine. This article is devoted to the analysis of the legal relations in the area of public administration of subsoil use, renewal and protection in Ukraine. The main approaches to study the essence of legal relations in the named area as well as its tasks, functions and methods are analyzed. It is concluded in this article that legal relationship in the field of public administration of subsoil use, renewal and protection is characterized by specifics of its task (development of natural resources).

Keywords: Legal relations, public administration, Subsoil Code of Ukraine, subsoil use, renewal and protection.

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Authors: Raif Parlakkaya, Huseyin Cetin, Duygu Irdiren

Abstract:

By the development of World Wide Web, the usage rate of Internet has rapidly grown globally; and provided a basis for the emergence of electronic business. As well as other sectors, the banking sector has adopted the use of internet with the developments in information and communication technologies. Due to the public disclosure and transparency principle of Corporate Governance, the importance of information disclosure of banks on their web sites has increased significantly. For the purpose of this study, a Bank Disclosure Attribute Index (BDAI) in Turkey has been constructed through classifying the information disclosure on banks’ web sites into general, financial, investors and corporate governance attributes. All 47 banks in Turkish Banking System have been evaluated according to the index with the aim of providing a comparison between banks. By Chi Square Test, Pearson Correlation, T-Test, and ANOVA statistical tools, it has been concluded that the majority of banks in Turkey have shared information on their web sites adequately with respect to their total index score. Although there is a positive correlation between various types of information on banks’ web sites, there is no uniformity among them. Also, no significant difference between various types of information disclosure and bank types has been observed. Compared with the total index score averages of the five largest banks in Turkey, there are some banks that need to improve the content of their web sites.

Keywords: Banking sector, public disclosure, Turkey, web site evaluation.

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Authors: Lucy Ampaw-Asiedu, Terri R. Norton

Abstract:

In the wake of recent disasters happening around the world such as earthquake in Italy (January, 2017); hurricanes in the United States (US) (September 2016 and September 2017); and compounding disasters in Haiti (September 2010 and September 2016); to our best knowledge, never has the world seen the need to work on preemptive rather than reactionary measures to salvage this situation than now. Tornadoes are natural hazards that mostly affect mid-western and central states in the US. Tornadoes, like all natural hazards such as hurricanes, earthquakes, floods and others, are very destructive and result in massive destruction to homes, cause billions of dollars in damage and claims many lives. Healthcare facilities in general are vulnerable to disasters, and therefore, the safety of patients, health workers and those who come in to seek shelter should be a priority. The focus of this study is to assess disaster management measures instituted by healthcare facilities. Thus, the sole aim of the study is to examine the vulnerabilities and the design of safe spaces in healthcare facilities in Central US. Objectives that guide the study are to primarily identify the impacts of tornadoes in hospitals and to assess the structural design or specifications of safe spaces. St. John’s Regional Medical Center, now Mercy Hospital in Joplin, is used as a case study. Preliminary results show that the lateral base shear of the proposed design to be 684.24 ton (1508.49kip) for the safe space. Findings from this work will be used to make recommendations about the design of safe spaces for health care facilities in Central US.

Keywords: Disaster management, safe spaces, structural design, tornado, vulnerability.

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Authors: M. Anwar, M. G. Rasul, M. M. K. Khan

Abstract:

The benefits of rooftop greenery systems (such as energy savings, reduction of greenhouse gas emission for mitigating climate change and maintaining sustainable development, indoor temperature control etc.) in buildings are well recognized, however there remains very little research conducted for quantifying the benefits in subtropical climates such as in Australia. This study mainly focuses on measuring/determining temperature profile and air conditioning energy savings by implementing rooftop greenery systems in subtropical Central Queensland in Australia. An experimental set-up was installed at Rockhampton campus of Central Queensland University, where two standard shipping containers (6m x 2.4m x 2.4m) were converted into small offices, one with green roof and one without. These were used for temperature, humidity and energy consumption data collection. The study found that an energy savings of up to 11.70% and temperature difference of up to 4°C can be achieved in March in subtropical Central Queensland climate in Australia. It is expected that more energy can be saved in peak summer days (December/February) as temperature difference between green roof and non-green roof is higher in December- February.

Keywords: Extensive green roof, Rooftop greenery system, Subtropical climate, Shipping container.

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