Search results for: Directors and officers liability (D&O) insurance

Authors: F. Havas Beigi, M. Vafaee Yeganeh, E. Mohammadi

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Evaluation and survey of curriculum quality as one of the most important components of universities system is necessary for different levels in higher education. The main purpose of this study was to survey of the curriculum quality of Actuarial science field. Case: University of SHahid Beheshti and Higher education institute of Eco insurance (according to viewpoint of students, alumni, employers and faculty members). Descriptive statistics (mean, tables, percentage, and frequency distribution) and inferential statistics (CHI SQUARE) were used to analyze the data. Six criteria considered for the Quality of curriculum: objectives, content, teaching and learning methods, space and facilities, Time, assessment of learning. Content, teaching and learning methods, space and facilities, assessment of learning criteria were relatively desirable level, objectives and time criterions were desirable level. The quality of curriculum of Actuarial Science field was relatively desirable level.

Keywords: Quality, curriculum, Actuarial science, higher education

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Authors: Ibrahim Dauda Adagye

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Effective internal control system in the bursary unit of tertiary educational institutions is geared toward achieving quality teaching, learning and research environment and as well assist the management of the institutions, particularly when decisions are to be made. While internal control system exists in all institutions, the outlined objectives above are far from being achieved. The paper therefore assesses the effectiveness of internal control system in tertiary educational institutions in Nasarawa State, Nigeria with specific focus on the Nasarawa State Polytechnic, Lafia. The study is survey, hence a simple closed ended questionnaire was developed and administered to a sample of twenty seven (27) member staff from the Bursary and the Internal audit unit of the Nasarawa State Polytechnic, Lafia so as to obtain data for analysis purposes and to test the study hypothesis. Responses from the questionnaire were analysed using a simple percentage and chi square. Findings shows that the right people are not assigned to the right job in the department, budget, and management accounting were never used in the institution’s operations and checking of subordinate by their superior officers is not regular. This renders the current internal control structure of the Polytechnic as ineffective and weak. The paper therefore recommends that: transparency should be seen as significant, as the institution work toward meeting its objectives, it therefore means that the right staff be assigned the right job and regular checking of the subordinates by their superiors be ensued.

Keywords: Bursary unit, efficiency, Internal control, tertiary educational institutions.

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Authors: Eftah Bte. Moh Hj Abdullah, Abd Aziz Bin Abd Shukor, Norazilawati Binti Abdullah, Rahimah Adam, Othman Bin Lebar

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The competency and integrity required for better understanding and practice of School-based Assessment (PBS) comes not only from the process, but also in providing the support or ‘scaffolding’ for teachers to recognize the student as a learner, improve their self-assessment skills, understanding of the daily teaching plan and its constructive alignment of the curriculum, pedagogy and assessment. The cultivation of integrity in PBS among the teachers is geared towards encouraging them to become committed and dedicated in implementing assessments in a serious, efficient manner, thus moving away from the usual teacher-focused approach to the student-focused approach. The teachers show their integrity via their professional commitment, responsibility and actions. The module based on the cultivation of integrity in PBS among Malaysian teachers aims to broaden the guidance support for teachers (embedded in the training), which consists of various domains to enable better evaluation of complex assessment tasks and the construction of suitable instrument for measuring the relevant cognitive, affective and psychomotor domains to describe the students’ achievement. The instrument for integrity cultivation in PBS has been developed and validated for measuring the effectiveness of the module constructed. This module is targeted towards assisting the staff in the Education Ministry, especially the principal trainers, teachers, headmasters and education officers to acquire effective intervention for improving the PBS assessors’ integrity and competency.

Keywords: School-based assessment, Assessment competency Integrity cultivation, Professional commitment, Module.

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Authors: Yananda Siraphatthada

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The current study was the succession of a previous study on value added of recycling business management. Its aims are to 1) explore conditions on how to increasing value add of Thai recycling business, and 2) exam the implementation of the 3-staged plan (short, medium, and long term), suggested by the former study, to increase value added of the recycling business as immediate mechanisms to accelerate government operation. Quantitative and qualitative methods were utilized in this research. A qualitative research consisted of in-depth interviews and focus group discussions. Responses were obtained from owners of the waste separation plants, and recycle shops, as well as officers in relevant governmental agencies. They were randomly selected via Quota Sampling. Data was analyzed via content analysis. The sample used for quantitative method consisted of 1,274 licensed recycling operators in eight provinces. The operators were randomly stratified via sampling method. Data were analyzed via descriptive statistics frequency, percentage, average (Mean) and standard deviation.The study recommended three-staged plan: short, medium, and long terms. The plan included the development of logistics, the provision of quality market/plants, the amendment of recycling rules/regulation, the restructuring recycling business, the establishment of green-purchasing recycling center, support for the campaigns run by the International Green Purchasing Network (IGPN), conferences/workshops as a public forum to share insights among experts/concern people.

Keywords: Strategies, Value Added, Recycle Business.

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Authors: Abbas Haddadzadeh, Marzieh Sharif Paghaleh

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Within the new world order, the term “crisis" is nowadays familiar to companies. Organizations are experiencing conditions which are surprising, uncertain, often adverse and usually unstable. The companies, who grasp the importance of transformation within the information age, have felt the need to develop modern methods to achieve the ability to thrive despite severe shocks. Through strategically managing human resource and developing appropriate elements of human resource system, companies can be assured for resolving the crisis. In this paper the role of HR system on resolving crisis has been evaluated. To help accomplish this, an insight on previous strategic HRM literature and an introduction to the elements and relationship within HR systems has been presented. It also reviews different attitude around resilience in literature. It continues by reviewing three elements central to developing an organization-s capacity for crisis resolving and it will demonstrate how designing proper elements of HR system can lead the organizations to possess the ability for passing through crisis. Finally it will evaluate an Iranian Insurance organization in case of one of the three central elements (specific cognitive ability) and observe how successful they were on developing an effective HR system to be ready for facing crisis.

Keywords: Crisis, HR System, Resilience, Strategic Human Resource Management.

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Authors: Bello Nurudeen Akinsola

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The study analyzed the risk and returns of commercial-property in Southwestern Nigeria and selected stocksmarket investment between 2000 and 2009; compared the inflation hedging characteristics and diversification potentials of investing in commercial-property and selected stock- market investment. Primary data were collected on characteristics, rental and capital values of commercial- properties from their property managers through the use of questionnaire. Secondary data on stock prices and dividends on banking, insurance and conglomerates sectors were sourced from the Nigerian Stock Exchange (2000-2009). The result showed that average return on all the selected stock- investments was higher than that of commercial-property. As regards risk, commercial-property indicated lower risk, compared to stocks. Also the stock-investment had better inflation hedging capacity than commercial-properties; combination of both had diversification potentials. The study concluded that stock-market investment offered attractive higher return than commercial-property although with higher risk and there could be diversification benefits in combining commercial-property with stock- investment.

Keywords: Commercial-Property, Return, Risk, Stock Market

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Authors: Ranjan Sarukkalige, Dinushi Gamage

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The aim of this study was to develop a storm water quality improvement strategy plan (WQISP) which assists managers and decision makers of local city councils in enhancing their activities to improve regional water quality. City of Gosnells in Western Australia has been considered as a case study. The procedure on developing the WQISP consists of reviewing existing water quality data, identifying water quality issues in the study areas and developing a decision making tool for the officers, managers and decision makers. It was found that land use type is the main factor affecting the water quality. Therefore, activities, sources and pollutants related to different land use types including residential, industrial, agricultural and commercial are given high importance during the study. Semi-structured interviews were carried out with coordinators of different management sections of the regional councils in order to understand the associated management framework and issues. The issues identified from these interviews were used in preparing the decision making tool. Variables associated with the defined “value versus threat" decision making tool are obtained from the intensive literature review. The main recommendations provided for improvement of water quality in local city councils, include non-structural, structural and management controls and potential impacts of climate change.

Keywords: Storm water quality, Storm water Management, Land use, Strategy plan

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Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

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Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: Brand equity, investors’ preference, good corporate governance, sustainable business environment.

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Authors: Chang, Chun-Lang, Liu, Chun-Kai

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This study, for its research subjects, uses patients who had undergone total knee replacement surgery from the database of the National Health Insurance Administration. Through the review of literatures and the interviews with physicians, important factors are selected after careful screening. Then using Cross Entropy Method, Genetic Algorithm Logistic Regression, and Particle Swarm Optimization, the weight of each factor is calculated and obtained. In the meantime, Excel VBA and Case Based Reasoning are combined and adopted to evaluate the system. Results show no significant difference found through Genetic Algorithm Logistic Regression and Particle Swarm Optimization with over 97% accuracy in both methods. Both ROC areas are above 0.87. This study can provide critical reference to medical personnel as clinical assessment to effectively enhance medical care quality and efficiency, prevent unnecessary waste, and provide practical advantages to resource allocation to medical institutes.

Keywords: Total knee replacement, Case Based Reasoning, Cross Entropy Method, Genetic Algorithm Logistic Regression, Particle Swarm Optimization.

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Authors: Mediha B. Sılaydın Aydın, Emine D. Kahraman

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One of the important impacts of climate change is the sea level rise. Turkey is a peninsula, so the coastal areas of the country are threatened by the problem of sea level rise. Therefore, the urbanized coastal areas are highly vulnerable to climate change. At the aim of enhancing spatial resilience of urbanized areas, this question arises: What should be the priority intervention subject in the urban planning process for a given city. To answer this question, by focusing on the problem of sea level rise, this study aims to determine spatial vulnerability typologies and levels of Turkey coastal cities based on morphological, physical and social characteristics. As a method, spatial vulnerability of coastal cities is determined by two steps as level and type. Firstly, physical structure, morphological structure and social structure were examined in determining spatial vulnerability levels. By determining these levels, most vulnerable areas were revealed as a priority in adaptation studies. Secondly, all parameters are also used to determine spatial typologies. Typologies are determined for coastal cities in order to use as a base for urban planning studies. Adaptation to climate change is crucial for developing countries like Turkey so, this methodology and created typologies could be a guide for urban planners as spatial directors and an example for other developing countries in the context of adaptation to climate change. The results demonstrate that the urban settlements located on the coasts of the Marmara Sea, the Aegean Sea and the Mediterranean respectively, are more vulnerable than the cities located on the Black Sea’s coasts to sea level rise.

Keywords: Climate change, coastal cities, sea level rise, urban land use planning, vulnerability.

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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: Kumara Jayapathma J. H. M. S. S., Dampegama S. D. P. J.

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Lands are valuable & limited resource which constantly changes with the growth of the population. An efficient and good land management system is essential to avoid conflicts associated with lands. This paper aims to design the prototype model of a Mobile GIS Land use and Land Information System in real-time. Homagama Divisional Secretariat Division situated in the western province of Sri Lanka was selected as the study area. The prototype model was developed after reviewing related literature. The methodology was consisted of designing and modeling the prototype model into an application running on a mobile platform. The system architecture mainly consists of a Google mapping app for real-time updates with firebase support tools. Thereby, the method of implementation consists of front-end and back-end components. Software tools used in designing applications are Android Studio with JAVA based on GeoJSON File structure. Android Studio with JAVA in GeoJSON File Synchronize to Firebase was found to be the perfect mobile solution for continuously updating Land use and Land Information System (LIS) in real-time in the present scenario. The mobile-based land use and LIS developed in this study are multiple user applications catering to different hierarchy levels such as basic users, supervisory managers, and database administrators. The benefits of this mobile mapping application will help public sector field officers with non-GIS expertise to overcome the land use planning challenges with land use updated in real-time.

Keywords: Android, Firebase, GeoJSON, GIS, JAVA, JSON, LIS, mobile GIS, real-time, REST API.

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Authors: K. Praraththajariya

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The main purpose of this research was to study how to communicate the identity of the Amphawa district, Samut Songkram province for sustainable tourism. The qualitative data was collected through studying related materials, exploring the area, in-depth interviews with three groups of people: three directly responsible officers who were key informants of the district, twenty foreign tourists and five Thai tourist guides. A content analysis was used to analyze the qualitative data. The two main findings of the study were as follows: 1. The identity of the Amphawa District, Samut Songkram province is the area controlled by Amphawa sub district (submunicipality). The working unit which runs and looks after Amphawa sub district administration is known as the Amphawa mayor. This establishment was built to be a resort for normal people and tourists visiting the Amphawa district near the Maekong River consisting of rest accommodations. Along the river there is a restaurant where food and drinks are served, rich mangrove forests, a learning center, fireflies and cork trees. The Amphawa district was built to honor and commemorate King Rama II and is where the greatest number of fireflies and cork trees can be seen in Thailand from May to October each year. 2. The communication of the identity of Amphawa District, Samut Songkram Province which the researcher could find and design to present in English materials can be summed up in 5 items: 1) The history of the Amphawa District, Samut Songkram province 2) The history of King Rama II Memorial Park 3) The identity of Amphawa Floating Market 4) The Learning center of Ecosystem: Fireflies and Cork Trees 5) How to keep Amphawa District, Samut Songkram Province for sustainable tourism.

Keywords: Foreigner tourists, signified, semiotics, sustainable tourism.

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Authors: Shahadat Uddin, Md Ekramul Hossain, Arif Khan

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The collaboration among physicians during episodes of care for a hospitalised patient has a significant contribution towards effective health outcome. This research aims at improving this health outcome by analysing the attributes of patient-sharing physician collaboration network (PCN) on hospital data. To accomplish this goal, we present a research framework that explores the impact of several types of attributes (such as clique and clan) of PCN on hospitalisation cost and hospital length of stay. We use electronic health insurance claim dataset to construct and explore PCNs. Each PCN is categorised as ‘low’ and ‘high’ in terms of hospitalisation cost and length of stay. The results from the proposed model show that the clique and clan of PCNs affect the hospitalisation cost and length of stay. The clique and clan of PCNs show the difference between ‘low’ and ‘high’ PCNs in terms of hospitalisation cost and length of stay. The findings and insights from this research can potentially help the healthcare stakeholders to better formulate the policy in order to improve quality of care while reducing cost.

Keywords: Clique, clan, electronic health records, physician collaboration.

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Authors: Chung-Hung Tsai

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Global environmental changes lead to increased frequency and scale of natural disaster, Taiwan is under the influence of global warming and extreme weather. Therefore, the vulnerability was increased and variability and complexity of disasters is relatively enhanced. The purpose of this study is to consider the source and magnitude of hazard characteristics on the tourism industry. Using modern risk management concepts, integration of related domestic and international basic research, this goes beyond the Taiwan typhoon disaster risk assessment model and evaluation of loss. This loss evaluation index system considers the impact of extreme weather, in particular heavy rain on the tourism industry in Taiwan. Consider the extreme climate of the compound impact of disaster for the tourism industry; we try to make multi-hazard risk assessment model, strategies and suggestions. Related risk analysis results are expected to provide government department, the tourism industry asset owners, insurance companies and banking include tourist disaster risk necessary information to help its tourism industry for effective natural disaster risk management.

Keywords: Tourism industry, extreme weather, multi-hazard, vulnerability analysis, loss exceeding probability, risk management.

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Authors: A. Pontrandolfi, G. Enjolras, F. Capitanio

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The study analyses the strategies Italian farmers use to cope with the risks that face their production. We specifically explore the potential and the limitations of the economic tools for climatic risk management in agriculture of the Common Agricultural Policy 2014-2020, that foresees contributions for economic tools for risk management, in relation to farms’ needs, exposure and vulnerability of agricultural areas to climatic risk. We consider at the farm level approaches to hedge risks in terms of the use of technical tools (agricultural practices, pesticides, fertilizers, irrigation) and economic/financial instruments (insurances, etc.). We develop cross-sectional and longitudinal analyses as well as analyses of correlation that underline the main differences between the way farms adapt their structure and management towards risk. The results show a preference for technical tools, despite the presence of important public aids on economic tools such as insurances. Therefore, there is a strong need for a more effective and integrated risk management policy scheme. Synergies between economic tools and risk reduction actions of a more technical, structural and management nature (production diversification, irrigation infrastructures, technological and management innovations and formation-information-consultancy, etc.) are emphasized.

Keywords: Agriculture and climate change, climatic risk management, insurance schemes.

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Authors: P. H. Tee, S. M. Zamri, K. M. Kasim, S. K. Tiew

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This study evaluates the management of osteoporosis in a tertiary care government hospital in Malaysia. As the number of admitted patients having osteoporotic fractures is on the rise, osteoporotic medications are an increasing financial burden to government hospitals because they account for half of the orthopedic budget and expenditure. Comprehensive knowledge among practitioners is important to detect early and avoid this preventable disease and its serious complications. The purpose of this study is to evaluate the awareness, knowledge, and practices in managing osteoporosis among practitioners in Hospital Tengku Ampuan Rahimah (HTAR), Klang. A questionnaire from an overseas study in managing osteoporosis among primary care physicians is adapted to Malaysia’s Clinical Practice Guideline of Osteoporosis 2012 (revised 2015) and international guidelines were distributed to all orthopedic practitioners in HTAR Klang (including surgeons, orthopedic medical officers), endocrinologists, rheumatologists and geriatricians. The participants were evaluated on their expertise in the diagnosis, prevention, treatment decision and medications for osteoporosis. Collected data were analyzed for all descriptive and statistical analyses as appropriate. All 45 participants responded to the questionnaire. Participants scored highest on expertise in prevention, followed by diagnosis, treatment decision and lastly, medication. Most practitioners stated that own-initiated continuing professional education from articles and books was the most effective way to update their knowledge, followed by attendance in conferences on osteoporosis. This study confirms the importance of comprehensive training and education regarding osteoporosis among tertiary care physicians and surgeons, predominantly in pharmacotherapy, to deliver wholesome care for osteoporotic patients.

Keywords: Awareness, knowledge, osteoporosis, practices.

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Authors: Elzo Alves Aranha, Marcio M. Araki

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Business model (BM) is a term that has been receiving the attention of scholars and practitioners and has been consolidating itself as a field of study and research. Although there is no agreement in the academic literature on the definition of BM, at least there is an explicit agreement: BM defines a logical structure of how an organization creates value, capture value and delivers value for the customers and stakeholders. The lack of understanding about connections and elements among BM and higher education, university, and entrepreneurship education opens a gap in the academic literature. Thus, it is interesting to analyze how BM has been approached by the literature and applied in higher education, university, and entrepreneurship education aimed to know the main streams of research. This is because higher education institutions are characterized by innovation, leading to a greater acceptance of new and modern concepts such as BM. Our research has the main motivation to fill the gap in the academic literature, making it possible to increase the power of understanding about connections and aspects among BM and higher education, university, and entrepreneurship education. The objective of the research is to analyze the main aspects among BM and higher education, university, and entrepreneurship education in academic literature. The research followed the systematic literature review (SLR). The SLR is based on three main factors: clarity, validity, and auditability. 82 academic papers were found in the past 10 years, from 2009-2019. The search was carried out in Science Direct and Periodicos Capes databases. The main findings indicate that there are links between BM and higher education, BM and university, BM, and entrepreneurship education. The main findings are inserted within seven aspects. The findings are innovative and contribute to increase the power of understanding about the connection among BM and higher education, university, and entrepreneurship education in academic literature. The research findings addressed to the gap exposed in academic literature. The research findings have several practical implications, and we highlight only two main ones. First, researchers will be able to use the research findings to mitigate a BM research agenda involving connections between BM and higher education, BM and university, and BM and entrepreneurship education. Second, directors, deans, and university leaders will be able to carry out BM awareness programs, BM professors training programs, and makers planning for the inclusion of BM, as one of the components of the curricula of the undergraduate and graduate courses.

Keywords: Business model, entrepreneurship education, higher education, university.

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Authors: C. O’Brien, Chloe Reiss

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While South Africa has been the chosen host country for over 1,2 million asylum seekers/refugees it has at the same time, been struggling to address the needs of its own people who are still trapped in poverty with little prospects of employment. This limited exploratory, qualitative study was undertaken in Cape Town with a purposive sample of 21 key personnel from various NPOs providing a service to asylum seekers/refugees. Individual in-depth face to face interviews were carried out and the main findings were: Some of the officials at the Department of Home Affairs, health personnel, landlords, school principals, employers, bank officials and police officers were prejudicial in their practices towards asylum seekers/ refugees. The major constraints experienced by NPOs in this study were linked to a lack of funding and minimal government support, strained relationship with the Department of Home Affairs and difficulties in accessing refugees. And finally, the strategies adopted by these NPOs included networking with other service providers, engaging in advocacy, raising community awareness and liaising with government. Thus, more focused intervention strategies are needed to build social cohesion, address prejudices which fuels xenophobic attacks and raise awareness/educate various sectors about refugee rights. Given this burgeoning global problem, social work education and training should include curriculum content on migrant issues. Furthermore, larger studies using mixed methodology approaches would yield more nuanced data and provide for more strategic interventions.

Keywords: Refugees and asylum seekers, non-profit organisations, refugee challenges, constraints of service delivery.

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Authors: K. N. C. Njoku, Chinwendu Best Eleje, Christian Chukwuemeka Nwandu

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One of the problems facing most insurance companies is how best the burden of paying claims to its policy holders can be managed whenever need arises. Hence there is need for the insurer to buy a reinsurance contract in order to reduce risk which will enable the insurer to share the financial burden with the reinsurer. In this paper, the insurer’s and reinsurer’s strategy is investigated under the modified constant elasticity of variance (M-CEV) process and proportional administrative charges. The insurer considered investment in one risky asset and one risk free asset where the risky asset is modeled based on the M-CEV process which is an extension of constant elasticity of variance (CEV) process. Next, a nonlinear partial differential equation in the form of Hamilton Jacobi Bellman equation is obtained by dynamic programming approach. Using power transformation technique and variable change, the explicit solutions of the optimal investment strategy and optimal reinsurance strategy are obtained. Finally, some numerical simulations of some sensitive parameters were obtained and discussed in details where we observed that the modification factor only affects the optimal investment strategy and not the reinsurance strategy for an insurer with exponential utility function.

Keywords: Reinsurance strategy, Hamilton Jacobi Bellman equation, power transformation, M-CEV process, exponential utility.

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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: Sotirios Raptis

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Linking social needs to social classes using different criteria may lead to social services misuse. The paper discusses using ML and Neural Networks (NNs) in linking public services in Scotland in the long term and advocates, this can result in a reduction of the services cost connecting resources needed in groups for similar services. The paper combines typical regression models with clustering and cross-correlation as complementary constituents to predict the demand. Insurance companies and public policymakers can pack linked services such as those offered to the elderly or to low-income people in the longer term. The work is based on public data from 22 services offered by Public Health Services (PHS) Scotland and from the Scottish Government (SG) from 1981 to 2019 that are broken into 110 years series called factors and uses Linear Regression (LR), Autoregression (ARMA) and 3 types of back-propagation (BP) Neural Networks (BPNN) to link them under specific conditions. Relationships found were between smoking related healthcare provision, mental health-related health services, and epidemiological weight in Primary 1(Education) Body Mass Index (BMI) in children. Primary component analysis (PCA) found 11 significant factors while C-Means (CM) clustering gave 5 major factors clusters.

Keywords: Probability, cohorts, data frames, services, prediction.

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Authors: Farhan Ismaeel Dakheel, Raoof Smko, K. Negrat, Abdelsalam Almarimi

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In this paper we used data mining techniques to identify outlier patients who are using large amount of drugs over a long period of time. Any healthcare or health insurance system should deal with the quantities of drugs utilized by chronic diseases patients. In Kingdom of Bahrain, about 20% of health budget is spent on medications. For the managers of healthcare systems, there is no enough information about the ways of drug utilization by chronic diseases patients, is there any misuse or is there outliers patients. In this work, which has been done in cooperation with information department in the Bahrain Defence Force hospital; we select the data for Cardiac patients in the period starting from 1/1/2008 to December 31/12/2008 to be the data for the model in this paper. We used three techniques for finding the drug utilization for cardiac patients. First we applied a clustering technique, followed by measuring of clustering validity, and finally we applied a decision tree as classification algorithm. The clustering results is divided into three clusters according to the drug utilization, for 1603 patients, who received 15,806 prescriptions during this period can be partitioned into three groups, where 23 patients (2.59%) who received 1316 prescriptions (8.32%) are classified to be outliers. The classification algorithm shows that the use of average drug utilization and the age, and the gender of the patient can be considered to be the main predictive factors in the induced model.

Keywords: Data Mining, Clustering, Classification, Drug Utilization..

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Authors: Yosia Mulumba, Klaus Schmidt

Abstract:

Financial Inclusion is considered a key pillar for development in most countries around the world. Access to affordable financial services in a country’s economy can be a driver to overcome poverty and reduce income inequalities, and thus increase economic growth. Nevertheless, the number of financially excluded populations in developing countries continues to be very high. This paper explores the role of Financial Technology (Fintech) as a key driver for achieving financial inclusion in developing countries post the COVID-19 pandemic with an emphasis on four East African countries: Kenya, Tanzania, Uganda, and Rwanda. The research paper is inspired by the positive disruption caused by the pandemic, which has compelled societies in East Africa to adapt and embrace the use of financial technology innovations, specifically Mobile Money Services (MMS), to access financial services. MMS has been further migrated and integrated with other financial technology innovations such as Mobile Banking, Micro Savings, and Loans, and Insurance, to mention but a few. These innovations have been adopted across key sectors such as commerce, health care, or agriculture. The research paper will highlight the Mobile Network Operators (MNOs) that are behind MMS, along with numerous innovative products and services being offered to the customers. It will also highlight the regulatory framework under which these innovations are being governed to ensure the safety of the customers' funds.

Keywords: Financial inclusion, financial technology, regulatory framework, mobile money services.

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Authors: Phusit Phukamchanoad, Chutchai Ditchareon, Suwaree Yordchim

Abstract:

This research was to study on background and social and cultural context of Kamchanoad community for sustainable tourism management. All data was collected through in-depth interview with village headmen, community committees, teacher, monks, Kamchanoad forest field officers and respected senior citizen above 60 years old in the community who have lived there for more than 40 years. Altogether there were 30 participants for this research. After analyzing the data, content from interview and discussion, Kamchanoad has both high land and low land in the region as well as swamps that are very capable of freshwater animals’ conservation. Kamchanoad is also good for agriculture and animal farming. 80% of Kamchanoad’s land are forest, freshwater and rice farms. Kamchanoad was officially set up as community in 1994 as “Baan Nonmuang”. Inhabitants in Kamchanoad make a living by farming based on sufficiency economy. They have rice farm, eucalyptus farm, cassava farm and rubber tree farm. Local people in Kamchanoad still believe in the myth of Srisutto Naga. They are still religious and love to preserve their traditional way of life. In order to understand how to create successful tourism business in Kamchanoad, we have to study closely on local culture and traditions. Outstanding event in Kamchanoad is the worship of Grand Srisutto, which is on the fullmoon day of 6th month or Visakhabucha Day. Other big events are also celebration at the end of Buddhist lent, Naga firework, New Year celebration, Boon Mahachart, Songkran, Buddhist Lent, Boon Katin and Loy Kratong. Buddhism is the main religion in Kamchanoad. The promotion of tourism in Kamchanoad is expected to help spreading more income for this region. More infrastructures will be provided for local people as well as funding for youth support and people activities.

Keywords: Social and Culture Area, Tourism Management, Kamchanoad Community.

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Authors: Gulnara Moldasheva

Abstract:

The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan.

Keywords: Corporate governance, corporate performance, debt to equity ratio, ownership.

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Authors: Popoola M. O., Abiola S. O., Adeniji W. A.

Abstract:

This study investigates the causes, effects and remedies of traffic congestion which has become a common sight in most highways in Nigeria; Mowe/Ibafo section of the Lagos-Ibadan expressway was used as the case-study. 300 Structured questionnaires were distributed among the road users comprising drivers (Private and Commercial), passengers, pedestrians, traffic officers, church congregations, community leaders, Mowe/Ibafo residents, and other users of the road.

300 questionnaires were given out; the average of 276 well completed returned questionnaires formed the basis of the study and was analyzed by the Relative Importance Index (R.I.I.). The result from the study showed the causes of traffic congestion as inadequate road capacity, poor road pavement, poor traffic management, poor drainage system poor driving habit, poor parking habit, poor design junctions/round-about, presence of heavy trucks, lack of pedestrian facilities, lack of road furniture, lack of parking facilities and others. Effects of road congestion from the study are waste of time, delay movement, stress, accident, inability to forecast travel of time, fuel consumption, road rage, relocation, night driving, and environmental pollution. To drastically reduce these negative effects; there must be provision for adequate parking space, construction of proper drainage, enlarging the width of the road, rehabilitate all roads needing attention, public enlightenment, traffic education, hack down all illegal buildings/shops built on the right of way (ROW), create a separate/alternative root for trucks and heavy vehicles, provision of pedestrian facilities, In-depth training of transport/traffic personnel, ban all form of road trading/hawking, and reduce the number of bus-stop where necessary. It is hoped that this study will become the foundation of further research in the area of improve road traffic management on our major highway.

Keywords: Highways, Congestion, Traffic, Traffic congestion, traffic management, Nigeria.

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Authors: Shaibu Baanni Azumah, William Adzawla

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Rice is an important staple crop, with current demand higher than the domestic supply in Ghana. This has led to a high and unfavourable import bill. Therefore, recent policies and interventions in the agricultural sub-sector aim at promoting various improved agricultural technologies in order to improve domestic production and reduce the importation of rice. In this study, we examined the effect of the adoption of Urea Deep Placement (UDP) technology by rice farmers on the position of the production frontier. This involved 200 farmers selected through a multi stage sampling technique in the Northern region of Ghana. A Cobb-Douglas stochastic frontier model was fitted. The result showed that the adoption of UDP technology shifts the output frontier outward and also move the farmers closer to the frontier. Farmers were also operating under diminishing returns to scale which calls for redress. Other factors that significantly influenced rice production were farm size, labour, use of certified seeds and NPK fertilizer. Although there was an opportunity for improvement, the farmers were highly efficient (92%), compared to previous studies. Farmers’ efficiency was improved through increased education, household size, experience, access to credit, and lack of extension service provision by MoFA. The study recommends the revision of Ghana’s agricultural policy to include the UDP technology. Agricultural Extension officers of the Ministry of Food and Agriculture (MoFA) should be trained on the UDP technology to support IFDC’s drive to improve adoption by rice farmers. Rice farmers are also encouraged to expand their farm lands, improve plant population, and also increase the usage of fertilizer to improve yields. Mechanisms through which credit can be made easily accessible and effectively utilised should be identified and promoted.

Keywords: Efficiency, rice farmers, stochastic frontier, UDP technology.

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Authors: Rishabh Garg

Abstract:

Blockchain technology can allow remote, untrusted parties in the banking and financial sector to reach consensus on the state of databases without the involvement of gatekeepers. Like a bookkeeper, it can manage all financial transactions including payments, settlements, fundraising, securities management, loans, credits and trade finance. It can outperform existing systems in terms of identity verification, asset transfers, peer-to-peer transfers, hedge funds, security and auditability. Blockchain-based decentralized finance (DeFi) is a new financial protocol. Being open and programmable, it enables various DeFi use-cases, including asset management, tokenization, tokenized derivatives, decentralized autonomous organizations, data analysis and valuation, payments, lending and borrowing, insurance, margin trading, prediction market, gambling and yield-farming, etc. In addition, it can ease financial transactions, cash-flow, use of programmable currency, no-loss lotteries, etc. This paper aims to assess the potential of decentralized finance by leveraging the blockchain-enabled Ethereum platform as an alternative to traditional finance. The study also aims to find out the impact of decentralized finance on prediction markets, quadratic funding and crowd-funding, together with the potential challenges and solutions associated with its implementation.

Keywords: Advance trading, crowd funding, exchange tokens, fund aggregation, margin trading, quadratic funding, smart contracts, streaming money, token derivatives.

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Authors: Sotirios N. Raptis

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The paper links social needs to social classes by the creation of cohorts of public services matched as causes to other ones as effects using cause-effect (CE) models. It then compares these associations using CE and typical regression methods (LR, ARMA). The paper discusses such public service groupings offered in Scotland in the long term to estimate the risk of multiple causes or effects that can ultimately reduce the healthcare cost by linking the next services to the likely causes of them. The same generic goal can be achieved using LR or ARMA and differences are discussed. The work uses Health and Social Care (H&Sc) public services data from 11 service packs offered by Public Health Services (PHS) Scotland that boil down to 110 single-attribute year series, called ’factors’. The study took place at Macmillan Cancer Support, UK and Abertay University, Dundee, from 2020 to 2023. The paper discusses CE relationships as a main method and compares sample findings with Linear Regression (LR), ARMA, to see how the services are linked. Relationships found were between smoking-related healthcare provision, mental-health-related services, and epidemiological weight in Primary-1-Education Body-Mass-Index (BMI) in children as CE models. Insurance companies and public policymakers can pack CE-linked services in plans such as those for the elderly, low-income people, in the long term. The linkage of services was confirmed allowing more accurate resource planning.

Keywords: Probability, regression, cause-effect cohorts, data frames, services, prediction.

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