Search results for: intangible capital
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 372

Search results for: intangible capital

42 The Emergence of Smart Growth in Developed and Developing Countries and Its Possible Application in Kabul City, Afghanistan

Authors: Bashir Ahmad Amiri, Nsenda Lukumwena

Abstract:

The global trend indicates that more and more people live and will continue to live in urban areas. Today cities are expanding both in physical size and number due to the rapid population growth along with sprawl development, which caused the cities to expand beyond the growth boundary and exerting intense pressure on environmental resources specially farmlands to accommodate new housing and urban facilities. Also noticeable is the increase in urban decay along with the increase of slum dwellers present another challenge that most cities in developed and developing countries have to deal with. Today urban practitioners, researchers, planners, and decision-makers are seeking for alternative development and growth management policies to house the rising urban population and also cure the urban decay and slum issues turn to Smart Growth to achieve their goals. Many cities across the globe have adopted smart growth as an alternative growth management tool to deal with patterns and forms of development and to cure the rising urban and environmental problems. The method used in this study is a literature analysis method through reviewing various resources to highlight the potential benefits of Smart Growth in both developed and developing countries and analyze, to what extent it can be a strategic alternative for Afghanistan’s cities, especially the capital city. Hence a comparative analysis is carried on three countries, namely the USA, China, and India to identify the potential benefits of smart growth likely to serve as an achievable broad base for recommendations in different urban contexts.

Keywords: Growth management, housing, Kabul city, smart growth, urban-expansion.

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41 The Risk of In-work Poverty and Family Coping Strategies

Authors: A. Banovcinova, M. Zakova

Abstract:

Labor market activity and paid employment should be a key factor in protecting individuals and families from falling into poverty and providing them with sufficient resources to meet the needs of their members. However, due to various processes in the labor market as well as the influence of individual factors and often insufficient social capital, there is a relatively large group of households that cannot eliminate paid employment and find themselves in a state of so-called working poverty. The aim of the research was to find out what strategies families use in managing poverty and meeting their needs and which of these strategies prevail in the Slovak population. A quantitative research strategy was chosen. The method of data collection was a structured interview focused on finding out the use of individual management strategies and also selected demographic indicators. The research sample consisted of members of families in which at least one member has a paid job. The condition for inclusion in the research was that the family's income did not exceed 60% of the national median equalized disposable income. The analysis of the results showed 5 basic areas to which management strategies are related - work, financial security, needs, social contacts and perception of the current situation. The prevailing strategies were strategies aimed at increasing and streamlining labor market activity and the planned and effective management of the family budget. Strategies that were rejected were mainly related to debt creation. The results make it possible to identify the preferred ways of managing poverty in individual areas of life, as well as the factors that influence this behavior. This information is important for working with families living in a state of working poverty and can help professionals develop positive ways of coping for families.

Keywords: Copying strategies, family, in-work poverty, quantitative research.

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40 Evaluation of the Mechanical Behavior of a Retaining Wall Structure on a Weathered Soil through Probabilistic Methods

Authors: P. V. S. Mascarenhas, B. C. P. Albuquerque, D. J. F. Campos, L. L. Almeida, V. R. Domingues, L. C. S. M. Ozelim

Abstract:

Retaining slope structures are increasingly considered in geotechnical engineering projects due to extensive urban cities growth. These kinds of engineering constructions may present instabilities over the time and may require reinforcement or even rebuilding of the structure. In this context, statistical analysis is an important tool for decision making regarding retaining structures. This study approaches the failure probability of the construction of a retaining wall over the debris of an old and collapsed one. The new solution’s extension length will be of approximately 350 m and will be located over the margins of the Lake Paranoá, Brasilia, in the capital of Brazil. The building process must also account for the utilization of the ruins as a caisson. A series of in situ and laboratory experiments defined local soil strength parameters. A Standard Penetration Test (SPT) defined the in situ soil stratigraphy. Also, the parameters obtained were verified using soil data from a collection of masters and doctoral works from the University of Brasília, which is similar to the local soil. Initial studies show that the concrete wall is the proper solution for this case, taking into account the technical, economic and deterministic analysis. On the other hand, in order to better analyze the statistical significance of the factor-of-safety factors obtained, a Monte Carlo analysis was performed for the concrete wall and two more initial solutions. A comparison between the statistical and risk results generated for the different solutions indicated that a Gabion solution would better fit the financial and technical feasibility of the project.

Keywords: Economical analysis, probability of failure, retaining walls, statistical analysis.

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39 Tokyo Skyscrapers: Technologically Advanced Structures in Seismic Areas

Authors: J. Szolomicki, H. Golasz-Szolomicka

Abstract:

The architectural and structural analysis of selected high-rise buildings in Tokyo is presented in this paper. The capital of Japan is the most densely populated city in the world and moreover is located in one of the most active seismic zones. The combination of these factors has resulted in the creation of sophisticated designs and innovative engineering solutions, especially in the field of design and construction of high-rise buildings. The foreign architectural studios (as, for Jean Nouvel, Kohn Pedesen Associates, Skidmore, Owings & Merill) which specialize in the designing of skyscrapers, played a major role in the development of technological ideas and architectural forms for such extraordinary engineering structures. Among the projects completed by them, there are examples of high-rise buildings that set precedents for future development. An essential aspect which influences the design of high-rise buildings is the necessity to take into consideration their dynamic reaction to earthquakes and counteracting wind vortices. The need to control motions of these buildings, induced by the force coming from earthquakes and wind, led to the development of various methods and devices for dissipating energy which occur during such phenomena. Currently, Japan is a global leader in seismic technologies which safeguard seismic influence on high-rise structures. Due to these achievements the most modern skyscrapers in Tokyo are able to withstand earthquakes with a magnitude of over seven degrees at the Richter scale. Damping devices applied are of a passive, which do not require additional power supply or active one which suppresses the reaction with the input of extra energy. In recent years also hybrid dampers were used, with an additional active element to improve the efficiency of passive damping.

Keywords: Core structure, damping systems, high-rise buildings.

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38 The Social Area Disclosure to Reduce Conflicts between Community and the State: A Case of Mahakan Fortress, Bangkok

Authors: Saowapa Phaithayawat

Abstract:

The purposes of this study are 1) to study the over 20-year attempt of Mahakan fort community to negotiate with Bangkok Metropolitan Administration (BMA) to remain in their residential area belonging to the state, and 2) to apply the new social and cultural dimension between the state and the community as an alternative for local participation in keeping their residential area. This is a qualitative research, and the findings reveal that the community claimed their ancestors’ right as owners of this piece of land for over 200 years. The community, therefore, requested to take part in the preservation of land, culture and local intellect and the area management in terms of being a learning resource on the cultural road in Rattanakosin Island. However, BMA imposed the law concerning the community area relocation in Rattanakosin Island. The result of law enforcement led to the failure of the area relocation, and the hard hit on physical structure of the area including the overall deterioration of the cultural road renovated in the year 1982, the 200 years’ celebration of Bangkok. The enforcement of law by the state required the move of the community, and the landscape improvement based on the capital city plan. However, this enforcement resulted in the unending conflicts between the community and the state, and the solution of this problem was unclear. At the same time the community has spent a long time opposing the state’s action, and preparing themselves by administrating the community behind Mahakan fortress with community administrative committee under the suggestion of external organization by registering all community members, providing funds for community administration. At the meantime the state lacked the continuation of the enforcement due to political problem and BMA’s administration problem. It is, therefore, suggested that an alternative solution to this problem lie at the negotiation between the state and the community with the purpose of the collaboration between the two to develop the area under the protective law of each side.

Keywords: Pom-Mahakan Community, The Reduction of Conflicts, The Social Area Disclosure.

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37 Deregulation of Turkish State Railways Based on Public-Private Partnership Approaches

Authors: S. Shakibaei, P. Alpkokin

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The railway network is one of the major components of a transportation system in a country which may be an indicator of the country’s level of economic improvement. Since 2000s on, revival of national railways and development of High Speed Rail (HSR) lines are one of the most remarkable policies of Turkish government in railway sector. Within this trend, the railway age is to be revived and coming decades will be a golden opportunity. Indubitably, major infrastructures such as road and railway networks require sizeable investment capital, precise maintenance and reparation. Traditionally, governments are held responsible for funding, operating and maintaining these infrastructures. However, lack or shortage of financial resources, risk responsibilities (particularly cost and time overrun), and in some cases inefficacy in constructional, operational and management phases persuade governments to find alternative options. Financial power, efficient experiences and background of private sector are the factors convincing the governments to make a collaboration with private parties to develop infrastructures. Public-Private Partnerships (PPP or 3P or P3) and related regulatory issues are born considering these collaborations. In Turkey, PPP approaches have attracted attention particularly during last decade and these types of investments have been accelerated by government to overcome budget limitations and cope with inefficacy of public sector in improving transportation network and its operation. This study mainly tends to present a comprehensive overview of PPP concept, evaluate the regulatory procedure in Europe and propose a general framework for Turkish State Railways (TCDD) as an outlook on privatization, liberalization and deregulation of railway network.

Keywords: Deregulation, high-speed rail, liberalization, privatization, public-private partnership.

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36 Design and Development of Constant Stress Composite Cantilever Beam

Authors: Vinod B. Suryawanshi, Ajit D. Kelkar

Abstract:

Composite materials, due to their unique properties such as high strength to weight ratio, corrosion resistance, and impact resistance have huge potential as structural materials in automotive, construction and transportation applications. However, these properties often come at higher cost owing to complex design methods, difficult manufacturing processes and raw material cost. Traditionally, tapered laminated composite structures are manufactured using autoclave manufacturing process by ply drop off technique. Autoclave manufacturing though very powerful suffers from high capital investment and higher energy consumption. As per the current trends in composite manufacturing, Out of Autoclave (OoA) processes are looked as emerging technologies for manufacturing the structural composite components for aerospace and defense applications. However, there is a need for improvement among these processes to make them reliable and consistent. In this paper, feasibility of using out of autoclave process to manufacture the variable thickness cantilever beam is discussed. The minimum weight design for the composite beam is obtained using constant stress beam concept by tailoring the thickness of the beam. Ply drop off techniques was used to fabricate the variable thickness beam from glass/epoxy prepregs. Experiments were conducted to measure bending stresses along the span of the cantilever beam at different intervals by applying the concentrated load at the free end. Experimental results showed that the stresses in the bean at different intervals were constant. This proves the ability of OoA process to manufacture the constant stress beam. Finite element model for the constant stress beam was developed using commercial finite element simulation software. It was observed that the simulation results agreed very well with the experimental results and thus validated design and manufacturing approach used.

Keywords: Beams, Composites, Constant Stress, Structures.

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35 Environmental Accounting Practice: Analyzing the Extent and Qualification of Environmental Disclosures of Turkish Companies Located in BIST-XKURY Index

Authors: Raif Parlakkaya, Mustafa Nihat Demirci, Mehmet Nuri Salur

Abstract:

Environmental pollution has detrimental effects on the quality of our life and its scope has reached such an extent that measures are being taken both at the national and international levels to reduce, prevent and mitigate its impact on social, economic and political spheres. Therefore, awareness of environmental problems has been increasing among stakeholders and accordingly among companies. It is seen that corporate reporting is expanding beyond environmental performance. Primary purpose of publishing an environmental report is to provide specific audiences with useful, meaningful information. This paper is intended to analyze the extent and qualification of environmental disclosures of Turkish publicly quoted firms and see how it varies from one sector to another. The data for the study were collected from annual activity reports of companies, listed on the corporate governance index (BIST-XKURY) of Istanbul Stock Exchange. Content analysis was the research methodology used to measure the extent of environmental disclosure. Accordingly, 2015 annual activity reports of companies that carry out business in some particular fields were acquired from Capital Market Board, websites of Public Disclosure Platform and companies’ own websites. These reports were categorized into five main aspects: Environmental policies, environmental management systems, environmental protection and conservation activities, environmental awareness and information on environmental lawsuits. Subsequently, each component was divided into several variables related to what each firm is supposed to disclose about environmental information. In this context, the nature and scope of the information disclosed on each item were assessed according to five different ways (N.I: No Information; G.E.: General Explanations; Q.E.: Qualitative Detailed Explanations; N.E.: Quantitative (numerical) Detailed Explanations; Q.&N.E.: Both Qualitative and Quantitative Explanations).

Keywords: Environmental accounting, disclosure, corporate governance, content analysis.

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34 Efficiency Validation of Hybrid Cooling Application in Hot and Humid Climate Houses of KSA

Authors: Jamil Hijazi, Stirling Howieson

Abstract:

Reducing energy consumption and CO2 emissions are probably the greatest challenge now facing mankind. From considerations surrounding global warming and CO2 production, it has to be recognized that oil is a finite resource and the KSA like many other oil-rich countries will have to start to consider a horizon where hydro-carbons are not the dominant energy resource. The employment of hybrid ground-cooling pipes in combination with the black body solar collection and radiant night cooling systems may have the potential to displace a significant proportion of oil currently used to run conventional air conditioning plant. This paper presents an investigation into the viability of such hybrid systems with the specific aim of reducing cooling load and carbon emissions while providing all year-round thermal comfort in a typical Saudi Arabian urban housing block. Soil temperatures were measured in the city of Jeddah. A parametric study then was carried out by computational simulation software (DesignBuilder) that utilized the field measurements and predicted the cooling energy consumption of both a base case and an ideal scenario (typical block retro-fitted with insulation, solar shading, ground pipes integrated with hypocaust floor slabs/stack ventilation and radiant cooling pipes embed in floor). Initial simulation results suggest that careful ‘ecological design’ combined with hybrid radiant and ground pipe cooling techniques can displace air conditioning systems, producing significant cost and carbon savings (both capital and running) without appreciable deprivation of amenity.

Keywords: Cooling load, energy efficiency, ground pipe cooling, hybrid cooling strategy, hydronic radiant systems, low carbon emission, passive designs, thermal comfort.

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33 The Analysis of Regulation on Sustainability in Financial Sector in Lithuania

Authors: D. Kubiliute

Abstract:

The Republic of Lithuania is known as a trusted location for global business institutions and it attracts investors with its competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities including sustainability-related disclosures. Since the European Union directed its policy towards transition to a climate-neutral, green, competitive and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, and other. The financial sector is one of the key factors influencing the implementation of sustainability objectives in the European Union policies and mitigating the negative effects of climate change – public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic and critical analysis principles, hence the aim of this study is to reveal the problematic of the implementation of regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees and time have to be dedicated in order the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.

Keywords: Financial, market participant, legal, regulation, sustainability.

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32 The Extent of Land Use Externalities in the Fringe of Jakarta Metropolitan: An Application of Spatial Panel Dynamic Land Value Model

Authors: Rahma Fitriani, Eni Sumarminingsih, Suci Astutik

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In a fast growing region, conversion of agricultural lands which are surrounded by some new development sites will occur sooner than expected. This phenomenon has been experienced by many regions in Indonesia, especially the fringe of Jakarta (BoDeTaBek). Being Indonesia’s capital city, rapid conversion of land in this area is an unavoidable process. The land conversion expands spatially into the fringe regions, which were initially dominated by agricultural land or conservation sites. Without proper control or growth management, this activity will invite greater costs than benefits. The current land use is the use which maximizes its value. In order to maintain land for agricultural activity or conservation, some efforts are needed to keep the land value of this activity as high as possible. In this case, the knowledge regarding the functional relationship between land value and its driving forces is necessary. In a fast growing region, development externalities are the assumed dominant driving force. Land value is the product of the past decision of its use leading to its value. It is also affected by the local characteristics and the observed surrounded land use (externalities) from the previous period. The effect of each factor on land value has dynamic and spatial virtues; an empirical spatial dynamic land value model will be more useful to capture them. The model will be useful to test and to estimate the extent of land use externalities on land value in the short run as well as in the long run. It serves as a basis to formulate an effective urban growth management’s policy. This study will apply the model to the case of land value in the fringe of Jakarta Metropolitan. The model will be used further to predict the effect of externalities on land value, in the form of prediction map. For the case of Jakarta’s fringe, there is some evidence about the significance of neighborhood urban activity – negative externalities, the previous land value and local accessibility on land value. The effects are accumulated dynamically over years, but they will fully affect the land value after six years.

Keywords: Growth management, land use externalities, land value, spatial panel dynamic.

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31 The Women Entrepreneur Support Fund in Bangladesh: Challenges and Prospects

Authors: Chowdhury Dilruba Shoma

Abstract:

Gender is about equal rights that both males and females having access to responsibilities and opportunities in decision making is a fundamental human right. It is also a precondition for, and a mark of, sustainable people-oriented development. In Bangladesh, women have fewer opportunities than men do to access credit from banks and financial institutions. Entrenched patriarchal attitudes, unequal inheritance rights, and male-dominated hierarchies in the financial system, plus high interest rates and a lack of security/collateral, make it harder for women to obtain bank loans. Limited access to institutional credit is a serious restraint on the productivity and income of women entrepreneurs, (and the wider economy). These gender-biased and structural barriers inhibit women’s access to fundamental economic rights. Using a liberal feminist theoretical lens, this study provides some useful insights into the relationship between gender inequality and entrepreneurship, leading to a better understanding of women’s entrepreneurship development in Bangladesh. Recently, the Bangladesh Government, the United Nations Capital Development Fund, and Bangladesh Bank opened up the Women Entrepreneur Support Fund (WESF) ‒ Credit Guarantee Scheme (CGS) pilot project to cover collateral shortfalls for women entrepreneurs in the small and medium enterprise sector. The aim is to improve gender equality and advance women’s rights in relation to receiving credit. This article examines the challenges and prospects of the WESF-CGS, and suggests that implementation of measures in WESF-CGS policymaking, coupled with a combination of legislatory and regulatory reforms that implement the fundamental tenets of liberal feminism, can lead to a comprehensive and effective credit policy to boost women’s agency and economic empowerment. This may ultimately lead to more sustainable development in Bangladesh.

Keywords: Bangladesh, CGS, liberal feminist theory, women entrepreneur support fund.

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30 Evaluation of Natural Drainage Flow Pattern, Necessary for Flood Control, Using Digitized Topographic Information: A Case Study of Bayelsa State Nigeria

Authors: Collins C. Chiemeke

Abstract:

The need to evaluate and understand the natural drainage pattern in a flood prone, and fast developing environment is of paramount importance. This information will go a long way to help the town planners to determine the drainage pattern, road networks and areas where prominent structures are to be located. This research work was carried out with the aim of studying the Bayelsa landscape topography using digitized topographic information, and to model the natural drainage flow pattern that will aid the understanding and constructions of workable drainages. To achieve this, digitize information of elevation and coordinate points were extracted from a global imagery map. The extracted information was modeled into 3D surfaces. The result revealed that the average elevation for Bayelsa State is 12 m above sea level. The highest elevation is 28 m, and the lowest elevation 0 m, along the coastline. In Yenagoa the capital city of Bayelsa were a detail survey was carried out showed that average elevation is 15 m, the highest elevation is 25 m and lowest is 3 m above the mean sea level. The regional elevation in Bayelsa, showed a gradation decrease from the North Eastern zone to the South Western Zone. Yenagoa showed an observed elevation lineament, were low depression is flanked by high elevation that runs from the North East to the South west. Hence, future drainages in Yenagoa should be directed from the high elevation, from South East toward the North West and from the North West toward South East, to the point of convergence which is at the center that flows from South East toward the North West. Bayelsa when considered on a regional Scale, the flow pattern is from the North East to the South West, and also North South. It is recommended that in the event of any large drainage construction at municipal scale, it should be directed from North East to the South West or from North to South. Secondly, detail survey should be carried out to ascertain the local topography and the drainage pattern before the design and construction of any drainage system in any part of Bayelsa.

Keywords: Bayelsa, Digitized Topographic Information, Drainage, Flood.

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29 Social Enterprise Concept in Sustaining Agro-Industry Development in Indonesia: Case Study of Yourgood Social Business

Authors: Koko Iwan Agus Kurniawan, Dwi Purnomo, Anas Bunyamin, Arif Rahman Jaya

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Fruters model is a concept of technopreneurship-based on empowerment, in which technology research results were designed to create high value-added products and implemented as a locomotive of collaborative empowerment; thereby, the impact was widely spread. This model still needs to be inventoried and validated concerning the influenced variables in the business growth process. Model validation accompanied by mapping was required to be applicable to Small Medium Enterprises (SMEs) agro-industry based on sustainable social business and existing real cases. This research explained the empowerment model of Yourgood, an SME, which emphasized on empowering the farmers/ breeders in farmers in rural areas, Cipageran, Cimahi, to housewives in urban areas, Bandung, West Java, Indonesia. This research reviewed some works of literature discussing the agro-industrial development associated with the empowerment and social business process and gained a unique business model picture with the social business platform as well. Through the mapped business model, there were several advantages such as technology acquisition, independence, capital generation, good investment growth, strengthening of collaboration, and improvement of social impacts that can be replicated on other businesses. This research used analytical-descriptive research method consisting of qualitative analysis with design thinking approach and that of quantitative with the AHP (Analytical Hierarchy Process). Based on the results, the development of the enterprise’s process was highly affected by supplying farmers with the score of 0.248 out of 1, being the most valuable for the existence of the enterprise. It was followed by university (0.178), supplying farmers (0.153), business actors (0.128), government (0.100), distributor (0.092), techno-preneurship laboratory (0.069), banking (0.033), and Non-Government Organization (NGO) (0.031).

Keywords: Agro-Industry, small medium enterprises (SMEs), empowerment, design thinking, AHP, business model canvas, social business.

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28 Sustainability Reporting and Performances of the Companies in the Istanbul Stock Exchange Sustainability Index

Authors: Zeynep Şahin, Züleyha Yılmaz, Fikret Çankaya

Abstract:

In today's business world, in which it is difficult to survive, the economic life of products, services or knowledge is considerably reduced. Competitors produce similar products or extra-featured ones instantly. In this environment, the contribution of companies to the social and economic environment is a preferred criterion by consumers alongside products or services. Therefore, consumers need to obtain more detailed information about companies. Besides, this drastic change in the market encourages companies to become sustainable. Sustainable business means the company puts consumed products back. Corporate sustainability, corresponds to sustainability at the level of the company, and gives equal importance to company growth and profitability together with environmental and social issues. The BIST Sustainability Index started to be calculated by the Istanbul Stock Exchange (BIST) in 2014 to evaluate the sustainability performance of companies in Turkey. The main objective of this study is to present the importance of sustainability reports in Turkey. To this aim, the performances of 15 companies in the BIST Sustainability Index were compared the periods before and after entering the index. On the other hand, sustainability reporting practices should be encouraged to increase studies on this issue. In this context, to remain on the agenda of the issue is a further objective of this study. To achieve these objectives, the financial data of the companies in the period before and after entering to the BIST Sustainability Index were analyzed using t-test in Statistical Package for the Social Sciences (SPSS) package. The results of the study showed that no significant difference between the performances of the companies in terms of the net profit margin, the return on assets and equity capital in these periods could be found. Therefore, it can be said that insufficient importance is given to sustainability issues in Turkey. The reasons for this situation might be considered as a lack of awareness due to the recent introduction and calculation of the index. It is expected that the awareness of firms and investors about sustainability will increase, and that they will demonstrate the necessary importance to this issue over time.

Keywords: BIST sustainability index, firm performance, sustainability, sustainability reporting.

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27 The Importance of Changing the Traditional Mode of Higher Education in Bangladesh: Creating Huge Job Opportunities for Home and Abroad

Authors: M. M. Shahidul Hassan, Omiya Hassan

Abstract:

Bangladesh has set its goal to reach upper middle-income country status by 2024. To attain this status, the country must satisfy the World Bank requirement of achieving minimum Gross National Income (GNI). Number of youth job seekers in the country is increasing. University graduates are looking for decent jobs. So, the vital issue of this country is to understand how the GNI and jobs can be increased. The objective of this paper is to address these issues and find ways to create more job opportunities for youths at home and abroad which will increase the country’s GNI. The paper studies proportion of different goods Bangladesh exported, and also the percentage of employment in different sectors. The data used here for the purpose of analysis have been collected from the available literature. These data are then plotted and analyzed. Through these studies, it is concluded that growth in sectors like agricultural, ready-made garments (RMG), jute industries and fisheries are declining and the business community is not interested in setting up capital-intensive industries. Under this situation, the country needs to explore other business opportunities for a higher economic growth rate. Knowledge can substitute the physical resource. Since the country consists of the large youth population, higher education will play a key role in economic development. It now needs graduates with higher-order skills with innovative quality. Such dispositions demand changes in a university’s curriculum, teaching and assessment method which will function young generations as active learners and creators. By bringing these changes in higher education, a knowledge-based society can be created. The application of such knowledge and creativity will then become the commodity of Bangladesh which will help to reach its goal as an upper middle-income country.

Keywords: Bangladesh, economic sectors, economic growth, higher education, knowledge-based economy, massifcation of higher education, teaching and learning, universities’ role in society.

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26 A Comparative Study of the Techno-Economic Performance of the Linear Fresnel Reflector Using Direct and Indirect Steam Generation: A Case Study under High Direct Normal Irradiance

Authors: Ahmed Aljudaya, Derek Ingham, Lin Ma, Kevin Hughes, Mohammed Pourkashanian

Abstract:

Researchers, power companies, and state politicians have given concentrated solar power (CSP) much attention due to its capacity to generate large amounts of electricity whereas overcoming the intermittent nature of solar resources. The Linear Fresnel Reflector (LFR) is a well-known CSP technology type for being inexpensive, having a low land use factor, and suffering from low optical efficiency. The LFR was considered a cost-effective alternative option to the Parabolic Trough Collector (PTC) because of its simplistic design, and this often outweighs its lower efficiency. The LFR power plants commercially generate steam directly and indirectly in order to produce electricity with high technical efficiency and lower its costs. The purpose of this important analysis is to compare the annual performance of the Direct Steam Generation (DSG) and Indirect Steam Generation (ISG) of LFR power plants using molten salt and other different Heat Transfer Fluids (HTF) to investigate their technical and economic effects. A 50 MWe solar-only system is examined as a case study for both steam production methods in extreme weather conditions. In addition, a parametric analysis is carried out to determine the optimal solar field size that provides the lowest Levelized Cost of Electricity (LCOE) while achieving the highest technical performance. As a result of optimizing the optimum solar field size, the solar multiple (SM) is found to be between 1.2 – 1.5 in order to achieve as low as 9 Cent/KWh for the DSG of the LFR. In addition, the power plant is capable of producing around 141 GWh annually and up to 36% of the capacity factor, whereas the ISG produces less energy at a higher cost. The optimization results show that the DSG’s performance overcomes the ISG in producing around 3% more annual energy, 2% lower LCOE, and 28% less capital cost.

Keywords: Concentrated Solar Power, Levelized cost of electricity, Linear Fresnel reflectors, Steam generation.

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25 Energy Loss Reduction in Oil Refineries through Flare Gas Recovery Approaches

Authors: Majid Amidpour, Parisa Karimi, Marzieh Joda

Abstract:

For the last few years, release of burned undesirable by-products has become a challenging issue in oil industries. Flaring, as one of the main sources of air contamination, involves detrimental and long-lasting effects on human health and is considered a substantial reason for energy losses worldwide. This research involves studying the implications of two main flare gas recovery methods at three oil refineries, all in Iran as the case I, case II, and case III in which the production capacities are increasing respectively. In the proposed methods, flare gases are converted into more valuable products, before combustion by the flare networks. The first approach involves collecting, compressing and converting the flare gas to smokeless fuel which can be used in the fuel gas system of the refineries. The other scenario includes utilizing the flare gas as a feed into liquefied petroleum gas (LPG) production unit already established in the refineries. The processes of these scenarios are simulated, and the capital investment is calculated for each procedure. The cumulative profits of the scenarios are evaluated using Net Present Value method. Furthermore, the sensitivity analysis based on total propane and butane mole fraction is carried out to make a rational comparison for LPG production approach, and the results are illustrated for different mole fractions of propane and butane. As the mole fraction of propane and butane contained in LPG differs in summer and winter seasons, the results corresponding to LPG scenario are demonstrated for each season. The results of the simulations show that cumulative profit in fuel gas production scenario and LPG production rate increase with the capacity of the refineries. Moreover, the investment return time in LPG production method experiences a decline, followed by a rising trend with an increase in C3 and C4 content. The minimum value of time return occurs at propane and butane sum concentration values of 0.7, 0.6, and 0.7 in case I, II, and III, respectively. Based on comparison of the time of investment return and cumulative profit, fuel gas production is the superior scenario for three case studies.

Keywords: Flare gas reduction, liquefied petroleum gas, fuel gas, net present value method, sensitivity analysis.

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24 Impact of Preksha Meditation on Academic Anxiety of Female Teenagers

Authors: Neelam Vats, Madhvi Pathak Pillai, Rajender Lal, Indu Dabas

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The pressure of scoring higher marks to be able to get admission in a higher ranked institution has become a social stigma for school students. It leads to various social and academic pressures on them, causing psychological anxiety. This undue stress on students sometimes may even steer to aggressive behavior or suicidal tendencies. Human mind is always surrounded by the some desires, emotions and passions, which usually disturbs our mental peace. In such a scenario, we look for a solution that helps in removing all the obstacles of mind and make us mentally peaceful and strong enough to be able to deal with all kind of pressure. Preksha meditation is one such technique which aims at bringing the positive changes for overall transformation of personality. Hence, the present study was undertaken to assess the impact of Preksha Meditation on the academic anxiety on female teenagers. The study was conducted on 120 high school students from the capital city of India. All students were in the age group of 13-15 years. They also belonged to similar social as well as economic status. The sample was equally divided into two groups i.e. experimental group (N = 60) and control group (N = 60). Subjects of the experimental group were given the intervention of Preksha Meditation practice by the trained instructor for one hour per day, six days a week, for three months for the first experimental stage and another three months for the second experimental stage. The subjects of the control group were not assigned any specific type of activity rather they continued doing their normal official activities as usual. The Academic Anxiety Scale was used to collect data during multi-level stages i.e. pre-experimental stage, post-experimental stage phase-I, and post-experimental stage phase-II. The data were statistically analyzed by computing the two-tailed-‘t’ test for inter group comparison and Sandler’s ‘A’ test with alpha = or p < 0.05 for intra-group comparisons. The study concluded that the practice for longer duration of Preksha Meditation practice brings about very significant and beneficial changes in the pattern of academic anxiety.

Keywords: Academic anxiety, academic pressure, Preksha, meditation.

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23 Evaluation of a Remanufacturing for Lithium Ion Batteries from Electric Cars

Authors: Achim Kampker, Heiner H. Heimes, Mathias Ordung, Christoph Lienemann, Ansgar Hollah, Nemanja Sarovic

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Electric cars with their fast innovation cycles and their disruptive character offer a high degree of freedom regarding innovative design for remanufacturing. Remanufacturing increases not only the resource but also the economic efficiency by a prolonged product life time. The reduced power train wear of electric cars combined with high manufacturing costs for batteries allow new business models and even second life applications. Modular and intermountable designed battery packs enable the replacement of defective or outdated battery cells, allow additional cost savings and a prolongation of life time. This paper discusses opportunities for future remanufacturing value chains of electric cars and their battery components and how to address their potentials with elaborate designs. Based on a brief overview of implemented remanufacturing structures in different industries, opportunities of transferability are evaluated. In addition to an analysis of current and upcoming challenges, promising perspectives for a sustainable electric car circular economy enabled by design for remanufacturing are deduced. Two mathematical models describe the feasibility of pursuing a circular economy of lithium ion batteries and evaluate remanufacturing in terms of sustainability and economic efficiency. Taking into consideration not only labor and material cost but also capital costs for equipment and factory facilities to support the remanufacturing process, cost benefit analysis prognosticate that a remanufacturing battery can be produced more cost-efficiently. The ecological benefits were calculated on a broad database from different research projects which focus on the recycling, the second use and the assembly of lithium ion batteries. The results of this calculations show a significant improvement by remanufacturing in all relevant factors especially in the consumption of resources and greenhouse warming potential. Exemplarily suitable design guidelines for future remanufacturing lithium ion batteries, which consider modularity, interfaces and disassembly, are used to illustrate the findings. For one guideline, potential cost improvements were calculated and upcoming challenges are pointed out.

Keywords: Circular economy, electric mobility, lithium ion batteries, remanufacturing.

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22 Satisfaction Survey of a Displaced Population Affected by a New Planned Development of Naya Raipur, India

Authors: Sagar Jajoo

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Urban planning is the need of the hour in a rapidly developing county like India. In essence, urban planning enhances the quality of land at a reasonable cost. Naya (New) Raipur is the new planned capital of the Indian state of Chhattisgarh, and is one of India’s few planned cities. Over the next decade it will drastically change the landscape of the state of Chhattisgarh. This new planned development is quintessential in growing this backward region and providing for future infrastructure. Key questions that arise are: How are people living in the surrounding region of New Raipur affected by its development? Are the affected people satisfied with compensation and rehabilitation that has been provided by the New Raipur Development Authority? To answer these questions, field research study in the form of questionnaires, interviews and site visits was conducted. To summarize the findings, while a majority of the surveyed population was dissatisfied with the rehabilitation and compensation provided by the New Raipur Development Authority, they were very positive about the success of the new development. Most thought that the new city would help their careers, improve job opportunities, improve prospects for their future generations, and benefit society as a whole.

To improve rehabilitation schemes for the future, the reasons for the negative sentiment brewing amongst the villagers regarding the monetary compensation was investigated. Most villagers deemed the monetary compensation to be lacking as they had squandered their financial windfall already. With numerous interviews and site visits, it was discovered that the lump sum form of monetary compensation was to blame. With a huge sum of money received at once and a lack of financial education, many villagers squandered this newly gained money on unnecessary purchases such as alcohol and expensive vehicles without investing for the long run in farmland and education for their children. One recommendation proposed to the New Raipur Development Authority (NRDA) for future monetary compensation design in times of rehabilitating people was to provide payments in installments rather than lump sums and educate the people about investing the compensation money wisely. This would save them from wasting money they receive and the ensuing dissatisfaction of squandering that money.

Keywords: Compensation, Naya Raipur, Rehabilitation, Satisfaction Survey, Urban Planning.

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21 Evaluating the Small-Strain Mechanical Properties of Cement-Treated Clayey Soils Based on the Confining Pressure

Authors: M. A. Putera, N. Yasufuku, A. Alowaisy, R. Ishikura, J. G. Hussary, A. Rifa’i

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Indonesia’s government has planned a project for a high-speed railway connecting the capital cities, Jakarta and Surabaya, about 700 km. Based on that location, it has been planning construction above the lowland soil region. The lowland soil region comprises cohesive soil with high water content and high compressibility index, which in fact, led to a settlement problem. Among the variety of railway track structures, the adoption of the ballastless track was used effectively to reduce the settlement; it provided a lightweight structure and minimized workspace. Contradictorily, deploying this thin layer structure above the lowland area was compensated with several problems, such as lack of bearing capacity and deflection behavior during traffic loading. It is necessary to combine with ground improvement to assure a settlement behavior on the clayey soil. Reflecting on the assurance of strength increment and working period, those were convinced by adopting methods such as cement-treated soil as the substructure of railway track. Particularly, evaluating mechanical properties in the field has been well known by using the plate load test and cone penetration test. However, observing an increment of mechanical properties has uncertainty, especially for evaluating cement-treated soil on the substructure. The current quality control of cement-treated soils was established by laboratory tests. Moreover, using small strain devices measurement in the laboratory can predict more reliable results that are identical to field measurement tests. Aims of this research are to show an intercorrelation of confining pressure with the initial condition of the Young’s modulus (E0), Poisson ratio (υ0) and Shear modulus (G0) within small strain ranges. Furthermore, discrepancies between those parameters were also investigated. Experimental result confirmed the intercorrelation between cement content and confining pressure with a power function. In addition, higher cement ratios have discrepancies, conversely with low mixing ratios.

Keywords: Cement content, confining pressure, high-speed railway, small strain ranges.

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20 Accreditation and Quality Assurance of Nigerian Universities: The Management Imperative

Authors: F. O Anugom

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The general functions of the university amongst other things include teaching, research and community service. Universities are recognized as the apex of learning, accumulating and imparting knowledge and skills of all kinds to students to enable them to be productive, earn their living and to make optimum contributions to national development. This is equivalent to the production of human capital in the form of high level manpower needed to administer the educational society, be useful to the society and manage the economy. Quality has become a matter of major importance for university education in Nigeria. Accreditation is the systematic review of educational programs to ensure that acceptable standards of education, scholarship and infrastructure are being maintained. Accreditation ensures that institution maintain quality. The process is designed to determine whether or not an institution has met or exceeded the published standards for accreditation, and whether it is achieving its mission and stated purposes. Ensuring quality assurance in accreditation process falls in the hands of university management which justified the need for this study. This study examined accreditation and quality assurance: the management imperative. Three research questions and three hypotheses guided the study. The design was a correlation survey with a population of 2,893 university administrators out of which 578 Heads of department and Dean of faculties were sampled. The instrument for data collection was titled Programme Accreditation Exercise scale with high levels of reliability. The research questions were answered with Pearson ‘r’ statistics. T-test statistics was used to test the hypotheses. It was found among others that the quality of accredited programme depends on the level of funding of universities in Nigeria. It was also indicated that quality of programme accreditation and physical facilities of universities in Nigeria have high relationship. But it was also revealed that programme accreditation is positively related to staffing in Nigerian universities. Based on the findings of the study, the researcher recommend that academic administrators should be included in the team of those who ensure quality programs in the universities. Private sector partnership should be encouraged to fund programs to ensure quality of programme in the universities. Independent agencies should be engaged to monitor the activities of accreditation teams to avoid bias.

Keywords: Accreditation, quality assurance, NUC, physical facilities, staffing.

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19 The Incidence of Obesity among Adult Women in Pekanbaru City, Indonesia, Related to High Fat Consumption, Stress Level, and Physical Activity

Authors: Yudia Mailani Putri, Martalena Purba, B. J. Istiti Kandarina

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Background: Obesity has been recognized as a global health problem. Individuals classified as overweight and obese are increasing at an alarming rate. This condition is associated with psychological and physiological problems. as a person reaches adulthood, somatic growth ceases. At this stage, the human body has developed fully, to a stable state. As the capital of Riau Province in Indonesia, Pekanbaru is dominated by Malay ethnic population habitually consuming cholesterol-rich fatty foods as a daily menu, a trigger to the onset of obesity resulting in high prevalence of degenerative diseases. Research objectives: The aim of this study is elaborating the relationship between high-fat consumption pattern, stress level, physical activity and the incidence of obesity in adult women in Pekanbaru city. Research Methods: Among the combined research methods applied in this study, the first stage is quantitative observational, analytical cross-sectional research design with adult women aged 20-40 living in Pekanbaru city. The sample consists of 200 women with BMI≥25. Sample data is processed with univariate, bivariate (correlation and simple linear regression) and multivariate (multiple linear regression) analysis. The second phase is qualitative descriptive study purposive sampling by in-depth interviews. six participants withdrew from the study. Results: According to the results of the bivariate analysis, there are relationships between the incidence of obesity and the pattern of high fat foods consumption (energy intake (p≤0.000; r = 0.536), protein intake (p≤0.000; r=0.307), fat intake (p≤0.000; r=0.416), carbohydrate intake (p≤0.000; r=0.430), frequency of fatty food consumption (p≤0.000; r=0.506) and frequency of viscera foods consumption (p≤0.000; r=0.535). There is a relationship between physical activity and incidence of obesity (p≤0.000; r=-0.631). However, there is no relationship between the level of stress (p=0.741; r=0.019-) and the incidence of obesity. Physical activity is a predominant factor in the incidence of obesity in adult women in Pekanbaru city. Conclusion: There are relationships between high-fat food consumption pattern, physical activity and the incidence of obesity in Pekanbaru city whereas physical activity is a predominant factor in the occurrence of obesity, supported by the unchangeable pattern of high-fat foods consumption.

Keywords: Obesity, adult, high in fat, stress, physical activity, consumption pattern.

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18 Nutrition Program Planning Based on Local Resources in Urban Fringe Areas of a Developing Country

Authors: Oktia Woro Kasmini Handayani, Bambang Budi Raharjo, Efa Nugroho, Bertakalswa Hermawati

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Obesity prevalence and severe malnutrition in Indonesia has increased from 2007 to 2013. The utilization of local resources in nutritional program planning can be used to program efficiency and to reach the goal. The aim of this research is to plan a nutrition program based on local resources for urban fringe areas in a developing country. This research used a qualitative approach, with a focus on local resources including social capital, social system, cultural system. The study was conducted in Mijen, Central Java, as one of the urban fringe areas in Indonesia. Purposive and snowball sampling techniques are used to determine participants. A total of 16 participants took part in the study. Observation, interviews, focus group discussion, SWOT analysis, brainstorming and Miles and Huberman models were used to analyze the data. We have identified several local resources, such as the contributions from nutrition cadres, social organizations, social financial resources, as well as the cultural system and social system. The outstanding contribution of nutrition cadres is the participation and creativity to improve nutritional status. In addition, social organizations, like the role of the integrated health center for children (Pos Pelayanan Terpadu), can be engaged in the nutrition program planning. This center is supported by House of Nutrition to assist in nutrition program planning, and provide social support to families, neighbors and communities as social capitals. The study also reported that cultural systems that show appreciation for well-nourished children are a better way to improve the problem of balanced nutrition. Social systems such as teamwork and mutual cooperation can also be a potential resource to support nutritional programs and overcome associated problems. The impact of development in urban areas such as the introduction of more green areas which improve the perceived status of local people, as well as new health services facilitated by people and companies, can also be resources to support nutrition programs. Local resources in urban fringe areas can be used in the planning of nutrition programs. The expansion of partnership with all stakeholders, empowering the community through optimizing the roles of nutrition care centers for children as our recommendation with regard to nutrition program planning.

Keywords: Developing country, local resources, nutrition program, urban fringe.

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17 International Financial Crises and the Political Economy of Financial Reforms in Turkey: 1994-2009

Authors: Birgül Şakar

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This study1 holds for the formation of international financial crisis and political factors for economic crisis in Turkey, are evaluated in chronological order. The international arena and relevant studies conducted in Turkey work in the literature are assessed. The main purpose of the study is to hold the linkage between the crises and political stability in Turkey in details, and to examine the position of Turkey in this regard. The introduction part follows the literature survey on the models explaining causes and results of the crises, the second part of the study. In the third part, the formations of the world financial crises are studied. The fourth part, financial crisis in Turkey in 1994, 2000, 2001 and 2008 are reviewed and their political reasons are analyzed. In the last part of the study the results and recommendations are held. Political administrations have laid the grounds for an economic crisis in Turkey. In this study, the emergence of an economic crisis in Turkey and the developments after the crisis are chronologically examined and an explanation is offered as to the cause and effect relationship between the political administration and economic equilibrium in the country. Economic crises can be characterized as follows: high prices of consumables, high interest rates, current account deficits, budget deficits, structural defects in government finance, rising inflation and fixed currency applications, rising government debt, declining savings rates and increased dependency on foreign capital stock. Entering into the conditions of crisis during a time when the exchange value of the country-s national currency was rising, speculative finance movements and shrinking of foreign currency reserves happened due to expectations for devaluation and because of foreign investors- resistance to financing national debt, and a financial risk occurs. During the February 2001 crisis and immediately following, devaluation and reduction of value occurred in Turkey-s stock market. While changing over to the system of floating exchange rates in the midst of this crisis, the effects of the crisis on the real economy are discussed in this study. Administered politics include financial reforms, such as the rearrangement of banking systems. These reforms followed with the provision of foreign financial support. There have been winners and losers in the imbalance of income distribution, which has recently become more evident in Turkey-s fragile economy.

Keywords: Economics, marketing crisis, financial reforms, political economy

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16 Development of Mechanisms of Value Creation and Risk Management Organization in the Conditions of Transformation of the Economy of Russia

Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Eugenia V. Klicheva

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In modern conditions, scientific judgment of problems in developing mechanisms of value creation and risk management acquires special relevance. Formation of economic knowledge has resulted in the constant analysis of consumer behavior for all players from national and world markets. Effective mechanisms development of the demand analysis, crucial for consumer's characteristics of future production, and the risks connected with the development of this production are the main objectives of control systems in modern conditions. The modern period of economic development is characterized by a high level of globalization of business and rigidity of competition. At the same time, the considerable share of new products and services costs has a non-material intellectual nature. The most successful in Russia is the contemporary development of small innovative firms. Such firms, through their unique technologies and new approaches to process management, which form the basis of their intellectual capital, can show flexibility and succeed in the market. As a rule, such enterprises should have very variable structure excluding the tough scheme of submission and demanding essentially new incentives for inclusion of personnel in innovative activity. Realization of similar structures, as well as a new approach to management, can be constructed based on value-oriented management which is directed to gradual change of consciousness of personnel and formation from groups of adherents included in the solution of the general innovative tasks. At the same time, valuable changes can gradually capture not only innovative firm staff, but also the structure of its corporate partners. Introduction of new technologies is the significant factor contributing to the development of new valuable imperatives and acceleration of the changing values systems of the organization. It relates to the fact that new technologies change the internal environment of the organization in a way that the old system of values becomes inefficient in new conditions. Introduction of new technologies often demands change in the structure of employee’s interaction and training in their new principles of work. During the introduction of new technologies and the accompanying change in the value system, the structure of the management of the values of the organization is changing. This is due to the need to attract more staff to justify and consolidate the new value system and bring their view into the motivational potential of the new value system of the organization.

Keywords: Value, risk, creation, problems, organization.

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15 Deep Injection Wells for Flood Prevention and Groundwater Management

Authors: Mohammad R. Jafari, Francois G. Bernardeau

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With its arid climate, Qatar experiences low annual rainfall, intense storms, and high evaporation rates. However, the fast-paced rate of infrastructure development in the capital city of Doha has led to recurring instances of surface water flooding as well as rising groundwater levels. Public Work Authority (PWA/ASHGHAL) has implemented an approach to collect and discharge the flood water into a) positive gravity systems; b) Emergency Flooding Area (EFA) – Evaporation, Infiltration or Storage off-site using tankers; and c) Discharge to deep injection wells. As part of the flood prevention scheme, 21 deep injection wells have been constructed to discharge the collected surface and groundwater table in Doha city. These injection wells function as an alternative in localities that do not possess either positive gravity systems or downstream networks that can accommodate additional loads. These injection wells are 400-m deep and are constructed in a complex karstic subsurface condition with large cavities. The injection well system will discharge collected groundwater and storm surface runoff into the permeable Umm Er Radhuma Formation, which is an aquifer present throughout the Persian Gulf Region. The Umm Er Radhuma formation contains saline water that is not being used for water supply. The injection zone is separated by an impervious gypsum formation which acts as a barrier between upper and lower aquifer. State of the art drilling, grouting, and geophysical techniques have been implemented in construction of the wells to assure that the shallow aquifer would not be contaminated and impacted by injected water. Injection and pumping tests were performed to evaluate injection well functionality (injectability). The results of these tests indicated that majority of the wells can accept injection rate of 200 to 300 m3 /h (56 to 83 l/s) under gravity with average value of 250 m3 /h (70 l/s) compared to design value of 50 l/s. This paper presents design and construction process and issues associated with these injection wells, performing injection/pumping tests to determine capacity and effectiveness of the injection wells, the detailed design of collection system and conveying system into the injection wells, and the operation and maintenance process. This system is completed now and is under operation, and therefore, construction of injection wells is an effective option for flood control.

Keywords: Deep injection well, wellhead assembly system, emergency flood area, flood prevention scheme, geophysical tests, pumping and injection tests, Qatar geology.

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14 Financial Innovations for Companies Offered by Banks: Polish Experience

Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the nonfinancial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: Banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation.

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13 Analyzing Political Cartoons in Arabic-Language Media after Trump's Jerusalem Move: A Multimodal Discourse Perspective

Authors: Inas Hussein

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Communication in the modern world is increasingly becoming multimodal due to globalization and the digital space we live in which have remarkably affected how people communicate. Accordingly, Multimodal Discourse Analysis (MDA) is an emerging paradigm in discourse studies with the underlying assumption that other semiotic resources such as images, colours, scientific symbolism, gestures, actions, music and sound, etc. combine with language in order to  communicate meaning. One of the effective multimodal media that combines both verbal and non-verbal elements to create meaning is political cartoons. Furthermore, since political and social issues are mirrored in political cartoons, these are regarded as potential objects of discourse analysis since they not only reflect the thoughts of the public but they also have the power to influence them. The aim of this paper is to analyze some selected cartoons on the recognition of Jerusalem as Israel's capital by the American President, Donald Trump, adopting a multimodal approach. More specifically, the present research examines how the various semiotic tools and resources utilized by the cartoonists function in projecting the intended meaning. Ten political cartoons, among a surge of editorial cartoons highlighted by the Anti-Defamation League (ADL) - an international Jewish non-governmental organization based in the United States - as publications in different Arabic-language newspapers in Egypt, Saudi Arabia, UAE, Oman, Iran and UK, were purposively selected for semiotic analysis. These editorial cartoons, all published during 6th–18th December 2017, invariably suggest one theme: Jewish and Israeli domination of the United States. The data were analyzed using the framework of Visual Social Semiotics. In accordance with this methodological framework, the selected visual compositions were analyzed in terms of three aspects of meaning: representational, interactive and compositional. In analyzing the selected cartoons, an interpretative approach is being adopted. This approach prioritizes depth to breadth and enables insightful analyses of the chosen cartoons. The findings of the study reveal that semiotic resources are key elements of political cartoons due to the inherent political communication they convey. It is proved that adequate interpretation of the three aspects of meaning is a prerequisite for understanding the intended meaning of political cartoons. It is recommended that further research should be conducted to provide more insightful analyses of political cartoons from a multimodal perspective.

Keywords: Multimodal discourse analysis, multimodal text, political cartoons, visual modality.

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