Search results for: Refugee crisis

Authors: Jiří Barta, Oldřich Svoboda, Jiří. F. Urbánek

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In this paper will be discussed two coin´s sides of crisis scenarios dynamics. On the one's side is negative role of subsidiary scenario branches in its compactness weakening by means unduly chaotic atomizing, having many interactive feedbacks cases, increasing a value of a complexity here. This negative role reflects the complexity of use cases, weakening leader compliancy, which brings something as a ´readiness for controlling capabilities provision´. Leader´s dissatisfaction has zero compliancy, but factual it is a ´crossbar´ (interface in fact) between planning and executing use cases. On the other side of this coin, an advantage of rich scenarios embranchment is possible to see in a support of response awareness, readiness, preparedness, adaptability, creativity and flexibility. Here rich scenarios embranchment contributes to the steadiness and resistance of scenario mission actors. These all will be presented in live power-points ´Blazons´, modelled via DYVELOP (Dynamic Vector Logistics of Processes) on the Conference.

Keywords: Leadership, Controlling, Complexity, DYVELOP, Scenarios.

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Authors: A. Bumbová, M. Čáslavský, F. Božek, J. Dvořák

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The paper deals with the analysis of hazards and sensitivity of potential resource of emergency water supply of population in a selected region of the Czech Republic. The procedure of identification and analysis of hazards and sensitivity is carried out on the basis of a unique methodology of classifying the drinking water resources earmarked for emergency supply of population. The hazard identification is based on a general register of hazards for individual parts of hydrological structure and the elements of technological equipment. It is followed by a semi-quantitative point indexation for the activation of each identified hazard, i.e. fires of anthropogenic origin, flood and the increased radioactive background accompanied by the leak of radon. Point indexation of sensitivity has been carried out at the same time. The analysis is the basis for a risk assessment of potential resource of emergency supply of population and the subsequent classification of such resource within the system of crisis planning.

Keywords: Hazard identification, sensitivity, semi-quantitative assessment, emergency water supply, crisis situation, ground water.

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Authors: González Carreño G., Rejas Muslera Rj., Padilla Fernández-Vega J., Cepeda González M. I.

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Automobile Industry has great importance in the Spanish economy (8,7 % of the active Spanish population is employed in this sector).The above mentioned sector has been one of the principal sectors affected by the current economic crisis, consistently, the budgets in advertising have been severely limited (46,9 % less in the period of reference), these needs of reduction have originated a substantial change in the advertising strategy (from 2007 the increase of the advertising investment in Internet is 251,6 %), and increase profitability. The growing use of social media by consumers therefore makes online consumer conversations an attractive additional format for Automobile firms to promote products at a lower cost. This research analyzes the relation between the activity in Social Media and the design in the car industry, looking for relations between strategies of design based on Social Media and sales and a channel of information for companies to know what the consumer preferences. For this ongoing research we used a longitudinal withdrawal of information has been used using information of panel. Managerial and research implications of the finding are discussed.

Keywords: Automobile Industry, Design, Economics Crisis, Innovation, Internet, Social Media.

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Authors: Siti Raihana Hamzah

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This paper elaborates risk shifting in debt financing system as the ultimate cause of the global financial crisis. In contrast, risk sharing in equity financing like sukuk helps the economic system to be better sustained. Nevertheless, some types of sukuk are haunted by the issue of imitation with bonds. The critics on the imitation issue not only have raised doubt on the ability of sukuk to diminish risk shifting behavior but also the ability of this Islamic financial instrument to ensure better future financial stability. Through that, this paper provides discussion on the possibility of sukuk to induce risk shifting and how equity financing may help sukuk to be free from risk shifting. This paper is important in the sense that sukuk receives a significant demand from investors throughout the world. For this instrument to be supportive in the future economic stability, the issue of imitation needs to be identified and addressed. Furthermore, critics cannot be focused on debts and its ability to gauge the financial flux but also to sukuk due to their structures similarity.

Keywords: Global financial crisis, debt, risk-shifting, risk sharing, equity, sukuk, bonds.

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Authors: Timothée Bligny, Clément Codron, Antoine Estruch, Nicolas Girodet, Clément Ginet

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Collateralized Debt Obligations are not as widely used nowadays as they were before 2007 Subprime crisis. Nonetheless there remains an enthralling challenge to optimize cash flows associated with synthetic CDOs. A Gaussian-based model is used here in which default correlation and unconditional probabilities of default are highlighted. Then numerous simulations are performed based on this model for different scenarios in order to evaluate the associated cash flows given a specific number of defaults at different periods of time. Cash flows are not solely calculated on a single bought or sold tranche but rather on a combination of bought and sold tranches. With some assumptions, the simplex algorithm gives a way to find the maximum cash flow according to correlation of defaults and maturities. The used Gaussian model is not realistic in crisis situations. Besides present system does not handle buying or selling a portion of a tranche but only the whole tranche. However the work provides the investor with relevant elements on how to know what and when to buy and sell.

Keywords: Synthetic Collateralized Debt Obligation (CDO), Credit Default Swap (CDS), Cash Flow Optimization, Probability of Default, Default Correlation, Strategies, Simulation, Simplex.

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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: Md. Alamgir Hossain, Md. Zakir Hossain, Md. Atiqur Rahman

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Tidal power can play a vital role in integrating as new source of renewable energy to the off-grid power connection in isolated areas, namely Sandwip, in Bangladesh. It can reduce the present energy crisis and improve the social, environmental and economic perspective of Bangladesh. Tidal energy is becoming popular around the world due to its own facilities. The development of any country largely depends on energy sector improvement. Lack of energy sector is because of hampering progress of any country development, and the energy sector will be stable by only depend on sustainable energy sources. Renewable energy having environmental friendly is the only sustainable solution of secure energy system. Bangladesh has a huge potential of tidal power at different locations, but effective measures on this issue have not been considered sincerely. This paper summarizes the current energy scenario, and Bangladesh can produce power approximately 53.19 MW across the country to reduce the growing energy demand utilizing tidal energy as well as it is shown that Sandwip is highly potential place to produce tidal power, which is estimated approximately 16.49 MW by investing only US $10.37 million. Besides this, cost management for tidal power plant has been also discussed.

Keywords: Sustainable energy, tidal power, cost analysis, power demand, gas crisis.

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Authors: Masami Usui

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The 21th century has already witnessed the rapid globalization of catastrophes caused by layered political, social, religious, cultural, and environmental conflicts. The post 9/11 literature that reflects these characteristics retells the experiences of those who are, whether directly or indirectly, involved in the globalized catastrophes of enlarging and endangering their boundaries and consequences. With an Irish-Turkish origin, a Dutch and British educational background, and as an American green-card holder, Joseph O’Neill challenges this changing circumstances of the expanding crisis. In his controversial novel, Netherland (2008), O’Neill embodies the deeply-rooted compromises, the transplanted conflicts, and human internalized crisis in post 9/11 New York City. O’Neill presents to us the transition between Netherland to New York with a post-colonial perspective. This internalized conflicts are revised in The Dog (2014) in which a newly-constructing and expanding global city of gold, Dubai, represents the transitional location from New York City. Through these two novels, words and voices are migrating beyond cultural and political boundaries and discussing what a collective mind embodies in this globalized society.  

Keywords: American literature, global literature, cultural studies, political science.

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Authors: Stephen Akuma, Isaac Terngu Adom, Evelyn Doofan Akuma

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Generation after generation of humans has experienced conflicts leading to needless deaths. Usually, it begins as a minor argument that occasionally escalates into a full-fledged conflict. There has been a lingering crisis in the Lake Chad Basin (LCB) of Africa for over a decade leading to bloodshed that has claimed thousands of lives. The terrorist group, Boko Haram has claimed responsibility for these deaths. Efforts have been made by the governments in the LCB region to end the crisis through kinetic approaches, but the conflict persists. In this work, we explored non-kinetic methods used by social scientists in resolving conflicts, with a focus on computational approaches due to the increasing processing power of the computer. Firstly, we reviewed the innovative computational methods available for researchers working on conflict, violence, and peace. Secondly, we described how an Agent-Based Model (ABM) can be linked with a Geographic Information System (GIS) to model the LCB. Finally, this research discusses the challenges and opportunities in constructing a Geographic Information System linked Agent-Based Model of the LCB region.

Keywords: Agent-based modelling, conflict, Geographical Information Systems, Lake Chad Basin, simulation.

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Authors: Marijana Ivanov, Roman Šubić

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This study analyzes the critical gaps in the architecture of European stability and the expected role of the banking union as the new important step towards completing the Economic and Monetary Union that should enable the creation of safe and sound financial sector for the euro area market. The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim of replacing the former bail-out practice with the bail-in system through which possible future bank failures would be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. In this way, the vicious circle between banks and sovereigns would be broken. It would also reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the money market which, due to the fragmentation of the common financial market, has been significantly disabled in period of crisis. However, contrary to all the positive expectations related to the future functioning of the banking union, major findings of this study indicate that characteristics of the economic system in which the banking union will operate should not be ignored. The euro area is an integration of strong and weak entities with large differences in economic development, wealth, assets of banking systems, growth rates and accountability of fiscal policy. The analysis indicates that low and unbalanced economic growth remains a challenge for the maintenance of financial stability and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times and large banks are still a matter of concern, because of their systemic importance for individual countries and the euro zone as a whole. The creation of the Single Supervisory Mechanism and the Single Resolution Mechanism is a response to the European crisis, which has particularly affected peripheral countries and caused the associated loop between the banking crisis and the sovereign debt crisis, but has also influenced banks’ balance sheets in the core countries, as the result of crossborder capital flows. The creation of the SSM and the SRM should prevent the similar episodes to happen again and should also provide a new opportunity for strengthening of economic and financial systems of the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented towards large and significant banks (whereby one half of them operate in the core and most important euro area countries), and therefore it remains questionable to what extent will the common resolution funds will be used for rescue of less important institutions. Recent geopolitical developments will be the optimal indicator to show whether the previously established mechanisms are sufficient enough to maintain the adequate financial stability in the euro area market.

Keywords: Banking Union, financial integration, single supervisory mechanism (SSM).

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Authors: Yalda Safaralipour, Seyed Ahmad Shahgoli

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Nowadays over-consumption of fossil energy in buildings especially in residential buildings and also considering the increase in populations, the crisis of energy shortage in a near future is predictable. The recent performance of developed countries in construction with the aim of decreasing fossil energies shows that these countries have understood the incoming crisis and has taken reasonable and basic actions in this regard. However, Iranian architecture, with several thousands years of history, has acquired and executed invaluable experiences in designing, adapting and coordinating with the nature. Architectural studies during the recent decades show that imitating modern western architecture results in high energy wastage beside the fact that it not reasonably adaptable and corresponded with the habits and customs of people unlike the architecture in the past which was compatible and adaptable with the climatic conditions and this necessitates optimal using of renewable energies more than ever. This paper studies problems of design, execution and living in today's houses and reviews the characteristics of climatic elements paying special attention to the performance of trombe wall and solar greenhouse in traditional houses and offers some suggestions for combining these two elements and a climatic strategy.

Keywords: Climatic Designing, Housing in Hot & Dry Area, Solar Greenhouse, Trombe Wall.

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Authors: MP. Mulaudzi, MA. Petersen, J. Mukuddem-Petersen , IM. Schoeman, B. de Waal, JM. Manale

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This conference paper discusses a risk allocation problem for subprime investing banks involving investment in subprime structured mortgage products (SMPs) and Treasuries. In order to solve this problem, we develop a L'evy process-based model of jump diffusion-type for investment choice in subprime SMPs and Treasuries. This model incorporates subprime SMP losses for which credit default insurance in the form of credit default swaps (CDSs) can be purchased. In essence, we solve a mean swap-at-risk (SaR) optimization problem for investment which determines optimal allocation between SMPs and Treasuries subject to credit risk protection via CDSs. In this regard, SaR is indicative of how much protection investors must purchase from swap protection sellers in order to cover possible losses from SMP default. Here, SaR is defined in terms of value-at-risk (VaR). Finally, we provide an analysis of the aforementioned optimization problem and its connections with the subprime mortgage crisis (SMC).

Keywords: Investors; Jump Diffusion Process, Structured Mortgage Products, Treasuries, Credit Risk, Credit Default Swaps, Tranching Risk, Counterparty Risk, Value-at-Risk, Swaps-at-Risk, Subprime Mortgage Crisis.

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Authors: A. Bumbová, M. Čáslavský, F. Božek, J. Dvořák, E. Bakoš

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The paper presents the case study of hazard identification and sensitivity of potential resource of emergency water supply as part of the application of methodology classifying the resources of drinking water for emergency supply of population. The case study has been carried out on a selected resource of emergency water supply in one region of the Czech Republic. The hazard identification and sensitivity of potential resource of emergency water supply is based on a unique procedure and developed general registers of selected types of hazards and sensitivities. The registers have been developed with the help of the “Fault Tree Analysis” method in combination with the “What if method”. The identified hazards for the assessed resource include hailstorms and torrential rains, drought, soil erosion, accidents of farm machinery, and agricultural production. The developed registers of hazards and vulnerabilities and a semi-quantitative assessment of hazards for individual parts of hydrological structure and technological elements of presented drilled wells are the basis for a semi-quantitative risk assessment of potential resource of emergency supply of population and the subsequent classification of such resource within the system of crisis planning.

Keywords: Hazard identification, register of hazards, sensitivity identification, register of sensitivity, emergency water supply, state of crisis, resource of emergency water supply, ground water.

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However the global oil price is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate, and corruption index.

Keywords: Fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality.

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Authors: Rudainah Alkhazam, Özlem Yaşar Uğurlu

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Immigrant entrepreneurship arises from the start of entrepreneurial activity by immigrants in the country they relocate to. The future prosperity and stability of the refugee-hosting countries depends on the mutual social and economic benefits between the residents and the refugees. Syrian refugees and workers in host countries necessitate efforts to assist their residents and refugees in meeting their daily needs, contributing lawfully to local and possibly regional economies through trade, and instilling hope in their future. This study investigates the effects of Syrian refugee entrepreneurs on host communities' business sectors, focusing on Turkey. Specifically, we examine entrepreneurship in general and its role in the country's economy. Because Turkey is the most popular resettlement destination for Syrian refugees, this study will shed light on the challenges of successful migrant entrepreneurship in Turkey and their role in the business sector. The research relies on a mixed-method approach which helps identify recurring themes, favorable results, and conflicting results across methods, allowing us to draw accurate conclusions. The study will adopt a quantitative method in collecting numerical data from Syrian refugees in Turkey. The self-administered survey would be translated into Arabic to ensure that the respondents understood the questions and possible replies. The research will use survey questionnaires to gather the majority of the data. These surveys would have closed-ended questions with nominal ratio and Likert scales. The data will be analyzed using linear regression and the Statistical Package for Social Sciences (SPSS) to ascertain the role of Syrian entrepreneurs in the business sectors of Turkey. The research will use the findings to make future recommendations. Syrian entrepreneurs, among the migrant entrepreneurs, contribute to the labor market, the majority of whom are young people. This research noted the significant participation of Syrian immigrant women in the entrepreneurship sector. The previous experience of Syrians in the field of trade and running their own business plays a vital role in the success of their business in the host countries. The study shows that Syrian entrepreneurs could integrate effectively into the various Turkish business sectors and could rely on themselves, open and manage their projects, and market them in the Turkish market. Syrian entrepreneurs consider that the investment and labor laws, commercial arrangements, and facilities for obtaining financial resources in Turkey need to be more flexible and available to immigrant entrepreneurs.

Keywords: Entrepreneurship, immigration, Syrian, Turkey, refugees, investors, socio-economic benefits, unemployment.

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Authors: Petr Gurný

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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the creditscoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.

Keywords: Credit-scoring Models, Multidimensional Subordinated Lévy Model, Probability of Default.

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Authors: R. Chedid, R. Ghajar

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Lebanon electricity crisis continues to escalate. Rationing hours still apply across the country but with different rates. The capital Beirut is subjected to 3 hours cut while other cities, town and villages may endure 9 to 14 hours of power shortage. To mitigate this situation, private diesel generators distributed illegally all over the country are being used to bridge the gap in power supply. Almost each building in large cities has its own generator and individual villages may have more than one generator supplying their loads. These generators together with their private networks form incomplete and ill-designed and managed microgrids (MG) but can be further developed to become renewable energy-based MG operating in island- or grid-connected modes. This paper will analyze the potential of introducing MG to help resolve the energy crisis in Lebanon. It will investigate the usefulness of developing MG under the prevailing situation of existing private power supply service providers and in light of the developed national energy policy that supports renewable energy development. A case study on a distribution feeder in a rural area will be analyzed using HOMER software to demonstrate the usefulness of introducing photovoltaic (PV) arrays along the existing diesel generators for all the stakeholders; namely, the developers, the customers, the utility and the community at large. Policy recommendations regarding MG development in Lebanon will be presented on the basis of the accumulated experience in private generation and the privatization and public-private partnership laws.

Keywords: Decentralized systems, microgrids, distributed generation, renewable energy.

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Authors: Nurmukhambetov Ardak

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This article makes and attempt to disclose the dynamics of development of social interactions in an aggravated environment in relation to the distinctive features of religious wars and their negative impact to the society. Crisis situations that took place in all spheres of social life are described, on the grounds of which the author comes to specific conclusions.

Keywords: War, medieval period, social relations, nation, Europe.

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Authors: Gabor Szendro, Maria Csete

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The effects of the transport sector on the environment are a well-recognized issue in the European Union and around the world. This area is a subject of much discussion as to how these negative effects could be minimized, especially with regards to impacts contributing to climate change. This paper aims to investigate the results of the economic crisis and how its consequences could be exploited to combat air pollution.

Keywords: Air pollution, climate change, recession, transport

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Authors: S. Ayub, S.N. Danish, S.R. Qureshi

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The world's population continues to grow at a quarter of a million people per day, increasing the consumption of energy. This has made the world to face the problem of energy crisis now days. In response to the energy crisis, the principles of renewable energy gained popularity. There are much advancement made in developing the wind and solar energy farms across the world. These energy farms are not enough to meet the energy requirement of world. This has attracted investors to procure new sources of energy to be substituted. Among these sources, extraction of energy from the waves is considered as best option. The world oceans contain enough energy to meet the requirement of world. Significant advancements in design and technology are being made to make waves as a continuous source of energy. One major hurdle in launching wave energy devices in a developing country like Pakistan is the initial cost. A simple, reliable and cost effective wave energy converter (WEC) is required to meet the nation-s energy need. This paper will present a novel design proposed by team SAS for harnessing wave energy. This paper has three major sections. The first section will give a brief and concise view of ocean wave creation, propagation and the energy carried by them. The second section will explain the designing of SAS-2. A gear chain mechanism is used for transferring the energy from the buoy to a rotary generator. The third section will explain the manufacturing of scaled down model for SAS-2 .Many modifications are made in the trouble shooting stage. The design of SAS-2 is simple and very less maintenance is required. SAS-2 is producing electricity at Clifton. The initial cost of SAS-2 is very low. This has proved SAS- 2 as one of the cost effective and reliable source of harnessing wave energy for developing countries.

Keywords: Clean Energy, Wave energy

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Authors: Jiří F. Urbánek, David Král

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Small and Middle Enterprises (SME) have a specific mission, characteristics, and behavior in global business competitive environments. They must respect policy, rules, requirements and standards in all their inherent and outer processes of supply - customer chains and networks. Paper aims and purposes are to introduce computational assistance, which enables us the using of prevailing operation system MS Office (SmartArt...) for mathematical models, using DYVELOP (Dynamic Vector Logistics of Processes) method. It is providing for SMS´s global environment the capability and profit to achieve its commitment regarding the effectiveness of the quality management system in customer requirements meeting and also the continual improvement of the organization’s and SME´s processes overall performance and efficiency, as well as its societal security via continual planning improvement. DYVELOP model´s maps - the Blazons are able mathematically - graphically express the relationships among entities, actors, and processes, including the discovering and modeling of the cycling cases and their phases. The blazons need live PowerPoint presentation for better comprehension of this paper mission – added value analysis. The crisis management of SMEs is obliged to use the cycles for successful coping of crisis situations.  Several times cycling of these cases is a necessary condition for the encompassment of the both the emergency event and the mitigation of organization´s damages. Uninterrupted and continuous cycling process is a good indicator and controlling actor of SME continuity and its sustainable development advanced possibilities.

Keywords: Blazons, computational assistance, DYVELOP method, small and middle enterprises.

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Authors: L.A du Plessis

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South Africa is facing a crisis with not being able to produce enough graduates in the scarce skills areas to sustain economic growth. The crisis is fuelled by a school system that does not produce enough potential students with Mathematics, Accounting and Science. Since the introduction of the new school curriculum in 2008, there is no longer an option to take pure maths on a standard grade level. Instead, only two mathematical subjects are offered: pure maths (which is on par with higher grade maths) and mathematical literacy. It is compulsory to take one or the other. As a result, lees student finishes Grade 12 with pure mathematics every year. This national problem needs urgent attention if South Africa is to make any headway in critical skills development as mathematics is a gateway to scarce skills professions. Higher education institutions initiated several initiatives in an attempt to address the above, including preparatory courses, bridging programmes and extended curricula with foundation provisions. In view of the above, and government policy directives to broaden access in the scarce skills areas to increase student throughput, foundation provision was introduced for Commerce and Information Technology programmes at the Vaal Triangle Campus (VTC) of North-West University (NWU) in 2010. Students enrolling for extended programmes do not comply with the minimum prerequisites for the normal programmes. The question then arises as to whether these programmes have the intended impact? This paper reports the results of a two year longitudinal study, tracking the first year academic achievement of the two cohorts of enrolments since 2010. The results provide valuable insight into the structuring of an extended programme and its potential impact.

Keywords: Access, extended programmes, foundation provision, mathematics.

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Authors: Robert M. Russo

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This paper analyzes the linkage between migration, economic globalization and terrorism concerns. On a broad level, I analyze Canadian economic and political considerations, searching for causal relationships between political and economic actors on the one hand, and Canadian immigration law on the other. Specifically, the paper argues that there are contradictory impulses affecting state sovereignty. These impulses are are currently being played out in the field of Canadian immigration law through several proposed changes to Canada-s Immigration and Refugee Protection Act (IRPA). These changes reflect an ideological conception of sovereignty that is intrinsically connected with decision-making capacity centered on an individual. This conception of sovereign decision-making views Parliamentary debate and bureaucratic inefficiencies as both equally responsible for delaying essential decisions relating to the protection of state sovereignty, economic benefits and immigration control This paper discusses these concepts in relation to Canadian immigration policy under Canadian governments over the past twenty five years.

Keywords: Globalization, immigration law, security, anti-terrorism.

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Authors: Mitansha, Suzanne Wilkinson, Regan Potangaroa

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The built environment is designed, maintained, operated, and decommissioned by construction organisations, which play a significant role in providing physical resources and rebuilding infrastructures during major crises and disasters. It is evident that enhancing the resilience of construction organisations allows better responding ability and speedy recovery from disasters and acts as a boon for the nation in the face of significant disruptions. As individuals are the integral component of any organisation, hence, individual resilience is considered a critical aspect, which may boost organisational resilience of construction sector. It has been observed that individual resilience is indirectly supported by organisation’s citizenship behaviour, job performance, and career success. Not only this, it also tends to hold a directly proportional relation with job satisfaction, physical and emotional well-being affected by organisation’s work culture, whereas the resilience of organisation increases as a result of positive adaption, growth and collective learning of the employees as an entity. Moreover, indicators like situation awareness in staff and crisis related issues, effective vulnerability management, organisational leadership and culture ensured by approachable, encouraging and people-oriented leaders, are prominent for achieving organisational resilience. It, thus, becomes perceptible that both, organisational and individual resiliencies, have the potential to influence each other. Consequently, it arises a major question that how these characteristics are associated and tend to behave with respect to each other. The study, thus, aims to explore the overlapping dimensions of organisational and individual resilience to determine the impact boundaries. The research methodology of the paper would be based on systematic literature review specifically focused on the resilience of construction industry. This would provide a direct comparison of characteristics influencing individual and organisational resilience and will present the most significant indicators of individual resilience that can eventually help to enhance the resilience of construction organisations amidst any disaster or crisis.

Keywords: Construction industry, individual resilience, organisational resilience, overlapping dimension.

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Authors: Yu-Yu Wang, Shih-Hua Hsieh, Ru-Shian Hsieh

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Wishes and choices being respected, and the right to be supported rather than coerced, have been internationally recognized as the human rights of persons with mental illness. In Taiwan, ‘coerced hospitalization’ has become difficult since the revision of the mental health legislation in 2007. Despite trend towards human rights, the real problem families face when their family members are in mental health crisis is the lack of alternative services. This study aims to explore: 1) When is hospitalization seen as the only solution by family members? 2) What are the barriers for arranging hospitalization, and how are they managed? 3) What have family carers learned, in their experiences of caring for their family members with mental illness? To answer these questions, qualitative approach was adopted, and focus group interviews were taken to collect data. This study includes 24 family carers. The main findings of this research include: First, hospital is the last resort for carers in helplessness. Family carers tend to do everything they could to provide care at home for their family members with mental illness. Carers seek hospitalization only when a patient’s behavior is too violent, weird, and/or abnormal, and beyond their ability to manage. Hospitalization, nevertheless, is never an easy choice. Obstacles emanate from the attitudes of the medical doctors, the restricted areas of ambulance service, and insufficient information from the carers’ part. On the other hand, with some professionals’ proactive assistance, access to medical care while in crisis becomes possible. Some family carers obtained help from the medical doctor, nurse, therapist and social workers. Some experienced good help from policemen, taxi drivers, and security guards at the hospital. The difficulty in accessing medical care prompts carers to work harder on assisting their family members with mental illness to stay in stable states. Carers found different ways of helping the ‘person’ to get along with the ‘illness’ and have better quality of life. Taking back ‘the right to control’ in utilizing medication, from passiveness to negotiating with medical doctors and seeking alternative therapies, are seen in many carers’ efforts. Besides, trying to maintain regular activities in daily life and play normal family roles are also experienced as important. Furthermore, talking with the patient as a person is also important. The authors conclude that in order to protect the human rights of persons with mental illness, it is crucial to make the medical care system more flexible and to make the services more humane: sufficient information should be provided and communicated, and efforts should be made to maintain the person’s social roles and to support the family.

Keywords: Family carers, coercive treatment, independent living, mental health crisis, persons with mental illness.

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Authors: Puthsodary Tat

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Democracy has been categorially accepted and used as foreign and domestic policy agendas for the hope of peace, economic growth and prosperity for more than 25 years in Cambodia. However, the country is now in the grip of dictatorship, human rights violations, and prospective economic sanctions. This paper examines different perceptions and experiences of democratic assistance. In this study, the author employs discourse theory, idealism and realism as a theory-based methodology for debating and assessing the implications of democratization. Discourse theory is used to establish a platform for understanding discursive formations, body of knowledge and the games of truth of democracy. Idealist approaches give rational arguments for adopting key tenets that work well on the ground. In contrast, realism allows for some sweeping critiques of utopian ideal and offers particular views on why Western hegemonic missions do not work well. From idealist views, the research finds that Cambodian people still believe that democracy is a prima facie universality for peace, growth and prosperity. From realism, democratization is on the brink of death in three reasons. Firstly, there are tensions between Western and local discourses about democratic values and norms. Secondly, democratic tenets have been undermined by the ruling party-controlled courts, corruption, structural oppression and political patronage-based institutions. The third pitfall is partly associated with foreign aid dependency and geopolitical power struggles in the region. Finally, the study offers a precise mosaic of democratic principles that may be used to avoid a future geopolitical and economic crisis.

Keywords: Corruption, democracy, democratic principles, discourse theory, discursive formations, foreign aid dependency, games of truth, geopolitical and economic crisis, geopolitical power struggle, hegemonic mission, idealism, realism, utopian ideal.

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Authors: Karolina Patora

Abstract:

This article investigates liquidity risk management by banks, which has gained significant importance since the global financial crisis of 2008. The issue is of particular interest for countries like Poland, in which foreign capital plays a dominant role. Such an ownership structure poses certain risks to the local banking sector, which faces an increased probability of the withdrawal of funding or assets’ transfers abroad in case of a crisis. Both these factors can have a detrimental influence on the liquidity position of foreign-owned banks and hence negatively affect the financial stability of the whole banking sector. The aim of this study is to evaluate the impact of a dominating share of foreign investors in the Polish banking sector on the liquidity position of commercial banks. The study hypothesizes that the ownership structure of the Polish banking sector, in which there are banks predominantly controlled by foreign investors, does not pose a threat to the liquidity position of Polish banks. A supplementary research hypothesis is that the liquidity risk profile of foreign-owned banks differs from that of domestic banks. The sample consists of 14 foreign-owned banks and 5 domestic banks owned by local investors, which together constitute approximately 87% of the banking sector’s assets. The data covers the period of 2004–2014. The results of the regression models show no evidence of significant differences in terms of the dynamics of changes of the liquidity buffers between the foreign-owned and domestic banks, although the signs of the coefficients might suggest that the foreign-owned banks were decreasing the holdings of liquid assets at a slower pace over the examined period, compared to the domestic banks. However, no proof of the statistical significance of these findings has been found. The supplementary research hypothesis that the liquidity risk profile of foreign-controlled banks differs from that of domestic banks was rejected.

Keywords: Financial stability, foreign-owned banks, liquidity position, liquidity risk.

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Authors: Chin Wen Cheong

Abstract:

This study employs a bivariate asymmetric GARCH model to reveal the hidden dynamics price changes and volatility among the emerging markets of Thailand and Malaysian after the Asian financial crisis from January 2001 to December 2008. Our results indicated that the equity markets are sharing the common information (shock) that transmitted among each others. These empirical findings are used to demonstrate the importance of shock and volatility dynamic transmissions in the cross-market hedging and market risk.

Keywords: multivariate ARCH, structural change, value at risk.

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Authors: Elnura Assyltayeva, Zhanar Aldubasheva, Zhengisbek Tolen, Ziyakul Assyltayeva, Aliya Alimzhanova

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Mankind has entered into an extremely complex and controversial stage of its development: the world is simultaneously organized and chaoticized, globalized and localized, combined and split. Analysts point out that globalization as a process of strengthening economic, cultural, financial and other ties of states cause many problems. In the economic sphere, it creates the danger of growing gap between the states, in the sphere of politics it leads to the weakening of political power and influence of nation-states.

Keywords: Civic identity, globalization, identity crisis, culture identity

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Authors: Ilias A. Makris

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In this work, we attempt to analyze the contribution of innovative activities to firm performance and growth. We examine economic data from some of the economies that were heavily affected by current economic crisis: the countries of southern Europe (Portugal, Italy, Greece and Spain) and Ireland. Following literature, an appropriate econometric model is developed and several indicators are tested in order to disclose possible relation with innovative activity. Findings confirm the crucial effect of innovative process in economic activity, in firm and country level.

Keywords: Eurozone Periphery, Firm Performance, Innovative activity, R&D.

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