Abstract: One of prevailing modes of finance in emerging
Islamic banking system is Murabah’a. It means a financial dealing or
transaction in which seller tells cost of the goods to be sold to buyer.
Otherwise, the transaction would become invalid. In this mainstream,
import Murabah’a transaction is divergent in such a way that the cost
is not recognized and identified due to execution of import
transaction in foreign currency i.e. US Dollar and the next transaction
of Murabaha’a with the client is executed in local currency. Since this
transaction is executed in dual currency i.e. bank pays supplier in
foreign currency and executes Murabah’a with its client in local
currency and it is not allowed in according to Islamic Injunctions as
mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be
pleased with them) used to sell his camels with Dirhams and take
dinars instead and vice versa. Upon revealing before the Prophet
(Peace be upon him), he was advised that it must not be contingent in
the agreement and the ready rate would be applied and possession of
one of the consideration is compulsory. The solution in this regard is
that the import Murabah’a transaction should be in single currency
However, other currency can be paid in payment at the time of
payment in a very indispensable situation provided that ready rate
would be applied. Moreover, some of other solutions have also been
given in this regard.
Abstract: Energy consumption of a hotel can be a hot topic in
smart city; it is difficult to evaluate the contribution of impact factors
to energy consumption of a hotel. Therefore, grasping the key impact
factors has great effect on the energy saving management of a hotel.
Based on the SPIRTPAT model, we establish the identity with the
impact factors of occupancy rate, unit area of revenue, temperature
factor, unit revenue of energy consumption. In this paper, we use the
LMDI (Logarithmic Mean Divisia Index) to decompose the impact
factors of energy consumption of hotel from Jan. to Dec. in 2001. The
results indicate that the occupancy rate and unit area of revenue are the
main factors that can increase unit area of energy consumption, and the
unit revenue of energy consumption is the main factor to restrain the
growth of unit area of energy consumption. When the energy
consumption of hotel can appear abnormal, the hotel manager can
carry out energy saving management and control according to the
contribution value of impact factors.
Abstract: This study aimed to explore the relationship between
energy consumption and value-added in Iran’s industry sector during
the time period 1973-2011. Annual data related to energy
consumption and value added in the industry sector were used. The
results of the study revealed a positive relationship between energy
consumption and value-added of the industry sector. Similarly, the
results showed that there is one-way causality between energy
consumption and value-added in the industry sector.
Abstract: Energy has a prominent role for development of
nations. Countries which have energy resources also have strategic
power in the international trade of energy since it is essential for all
stages of production in the economy. Thus, it is important for
countries to analyze the weaknesses and strength of the system. On
the other side, international trade is one of the fields that are analyzed
as a complex network via network analysis. Complex network is one
of the tools to analyze complex systems with heterogeneous agents
and interaction between them. A complex network consists of nodes
and the interactions between these nodes. Total properties which
emerge as a result of these interactions are distinct from the sum of
small parts (more or less) in complex systems. Thus, standard
approaches to international trade are superficial to analyze these
systems. Network analysis provides a new approach to analyze
international trade as a network. In this network, countries constitute
nodes and trade relations (export or import) constitute edges. It
becomes possible to analyze international trade network in terms of
high degree indicators which are specific to complex networks such
as connectivity, clustering, assortativity/disassortativity, centrality,
etc. In this analysis, international trade of crude oil and coal which
are types of fossil fuel has been analyzed from 2005 to 2014 via
network analysis. First, it has been analyzed in terms of some
topological parameters such as density, transitivity, clustering etc.
Afterwards, fitness to Pareto distribution has been analyzed via
Kolmogorov-Smirnov test. Finally, weighted HITS algorithm has
been applied to the data as a centrality measure to determine the real
prominence of countries in these trade networks. Weighted HITS
algorithm is a strong tool to analyze the network by ranking countries
with regards to prominence of their trade partners. We have
calculated both an export centrality and an import centrality by
applying w-HITS algorithm to the data. As a result, impacts of the
trading countries have been presented in terms of high-degree
indicators.
Abstract: E-government has been adopted and used by many governments/countries around the world including Ghana to provide citizens and businesses with more accurate, real-time, and high quality services and information. The objective of this paper is to present an overview of the Government of Ghana’s (GoG) adoption and implement of e-government and its usage by the Ministries, Departments and its agencies (MDAs) as well as other public sector institutions to deliver efficient public service to the general public i.e. citizens, business etc. Government implementation of e-government focused on facilitating effective delivery of government service to the public and ultimately to provide efficient government-wide electronic means of sharing information and knowledge through a network infrastructure developed to connect all major towns and cities, Ministries, Departments and Agencies and other public sector organizations in Ghana. One aim for the Government of Ghana use of ICT in public administration is to improve productivity in government administration and service by facilitating exchange of information to enable better interaction and coordination of work among MDAs, citizens and private businesses. The study was prepared using secondary sources of data from government policy documents, national and international published reports, journal articles, and web sources. This study indicates that through the e-government initiative, currently citizens and businesses can access and pay for services such as renewal of driving license, business registration, payment of taxes, acquisition of marriage and birth certificates as well as application for passport through the GoG electronic service (eservice) and electronic payment (epay) portal. Further, this study shows that there is enormous commitment from GoG to adopt and implement e-government as a tool not only to transform the business of government but also to bring efficiency in public services delivered by the MDAs. To ascertain this, a further study need to be carried out to determine if the use of e-government has brought about the anticipated improvements and efficiency in service delivery of MDAs and other state institutions in Ghana.
Abstract: A combined heat and power (CHP) system is an efficient and clean way to generate power (electricity). Heat produced by the CHP system can be used for water and space heating. The CHP system which uses hydrogen as fuel produces zero carbon emission. Its’ efficiency can reach more than 80% whereas that of a traditional power station can only reach up to 50% because much of the thermal energy is wasted. The other advantages of CHP systems include that they can decentralize energy generation, improve energy security and sustainability, and significantly reduce the energy cost to the users. This paper presents the economic benefits of using a CHP system in the domestic environment. For this analysis, natural gas is considered as potential fuel as the hydrogen fuel cell based CHP systems are rarely used. UK government incentives for CHP systems are also considered as the added benefit. Results show that CHP requires a significant initial investment in returns it can reduce the annual energy bill significantly. Results show that an investment may be paid back in 7 years. After the back period, CHP can run for about 3 years as most of the CHP manufacturers provide 10 year warranty.
Abstract: The present study aims to explore the effect of
computerization on marketing performance in Snowa Company. In
other words, this study intends to respond to this question that
whether or not, is there any relationship between utilization of
computerization in marketing activities and marketing performance?
The statistical population included 60 marketing managers of Snowa
Company. In order to test the research hypotheses, Pearson
correlation coefficient was employed. The reliability was equal to
96.8%. In this study, computerization was the independent variable
and marketing performance was the dependent variable with
characteristics of market share, improving the competitive position,
and sales volume. The results of testing the hypotheses revealed that
there is a significant relationship between utilization of
computerization and market share, sales volume and improving the
competitive position.
Abstract: This paper aims to link together the concepts of job
satisfaction, work engagement, trust, job meaningfulness and loyalty
to the organisation focusing on specific type of employment –
academic jobs. The research investigates the relationships between
job satisfaction, work engagement and loyalty as well as the impact
of trust and job meaningfulness on the work engagement and loyalty.
The survey was conducted in one of the largest Latvian higher
education institutions and the sample was drawn from academic staff
(n=326). Structured questionnaire with 44 reflective type questions
was developed to measure the constructs. Data was analysed using
SPSS and Smart-PLS software. Variance based structural equation
modelling (PLS-SEM) technique was used to test the model and to
predict the most important factors relevant to employee engagement
and loyalty. The first order model included two endogenous
constructs (loyalty and intention to stay and recommend to work in
this organisation, and employee engagement), as well as six
exogenous constructs (feeling of fair treatment and trust in
management; career growth opportunities; compensation, pay and
benefits; management; colleagues and teamwork; and finally job
meaningfulness). Job satisfaction was developed as second order
construct and both: first and second order models were designed for
data analysis. It was found that academics are more engaged than
satisfied with their work and main reason for that was found to be job
meaningfulness, which is significant predictor for work engagement,
but not for job satisfaction. Compensation is not significantly related
to work engagement, but only to job satisfaction. Trust was not
significantly related neither to engagement, nor to satisfaction,
however, it appeared to be significant predictor of loyalty and
intentions to stay with the University. Paper revealed academic jobs
as specific kind of employment where employees can be more
engaged than satisfied and highlighted the specific role of job
meaningfulness in the University settings.
Abstract: Tourism can do a great deal of good in destinations,
whether it be by bringing economic benefits to local communities,
helping with conservation efforts or in placing a value on aspects of
cultural heritage. As responsive travelers, we must all try to do more
of the good and less of the negative. This is simply description of the
sustainable tourism. This paper aims to set some criteria of successful
sustainable tourism development and then through these criteria
analyzing the development of some resorts in Egypt known as
sustainable resorts. Hence, a comprehensive improvement of the
touristic areas is certainly needed to ensure a successful sustainable
tourism development radiated the sense of uniformity and coherence.
Egypt can benefit from these criteria to develop its resorts in order to
preserve and revitalize its unique natural character and achieve mixed
uses and tourism development.
Abstract: The process of human resources management in the structures of corporate groups demonstrates certain specificity, resulting from the division of decision-making and executive competencies, which occurs within these structures between a parent company and its subsidiaries. The subprocess of employee assessment is considered crucial, since it provides information for the implementation of personnel function. The empirical studies conducted in corporate groups, within which at least one company is located in Poland, confirmed the critical significance of employee assessment systems in the process of human resources management in corporate groups. Parent companies, most often, retain their decision-making authority within the framework of the discussed process and introduce uniform employee assessment and personnel controlling systems to subsidiary companies. However, the instruments for employee assessment applied in corporate groups do not present such specificity.
Abstract: Our purpose is to investigate how the relationship
between employees and innovation management processes can drive
organizations to successful innovations. This research is deeply
related to a new way of thinking about human resources management
practices. It’s not simply about improving the employees’
engagement, but rather about a different and more radical
commitment: the employee can take on the role traditionally played
by the customer, namely to become the first tester of an innovative
product or service, the first user/customer and eventually the first
investor in the innovation. This new perception of employees could
create the basis of a novelty in the innovation process where
innovation is taken to a next level when the problems with customer
driven innovation on the one hand, and employees driven innovation
on the other can be balanced. This research identifies an effective
approach to innovation where the employees will participate
throughout the whole innovation process, not only in the idea
creation but also in the idea definition and development by giving
feedback in parallel to that provided by customers and lead-users.
Abstract: Intellectual capital is one of the most valuable and
important parts of the intangible assets of enterprises especially in
knowledge-based enterprises. With respect to increasing gap between
the market value and the book value of the companies, intellectual
capital is one of the components that can be placed in this gap. This
paper uses the value added efficiency of the three components,
capital employed, human capital and structural capital, to measure the
intellectual capital efficiency of Iranian industries groups, listed in
the Tehran Stock Exchange (TSE), using a 8 years period data set
from 2005 to 2012. In order to analyze the effect of intellectual
capital on the market-to-book value ratio of the companies, the data
set was divided into 10 industries, Banking, Pharmaceutical, Metals
& Mineral Nonmetallic, Food, Computer, Building, Investments,
Chemical, Cement and Automotive, and the panel data method was
applied to estimating pooled OLS. The results exhibited that value
added of capital employed has a positive significant relation with
increasing market value in the industries, Banking, Metals & Mineral
Nonmetallic, Food, Computer, Chemical and Cement, and also,
showed that value added efficiency of structural capital has a positive
significant relation with increasing market value in the Banking,
Pharmaceutical and Computer industries groups. The results of the
value added showed a negative relation with the Banking and
Pharmaceutical industries groups and a positive relation with
computer and Automotive industries groups. Among the studied
industries, computer industry has placed the widest gap between the
market value and book value in its intellectual capital.
Abstract: The UK has had its fair share of the shale gas
revolutionary waves blowing across the global oil and gas industry at
present. Although, its exploitation is widely agreed to have been
delayed, shale gas was looked upon favorably by the UK Parliament
when they recognized it as genuine energy source and granted
licenses to industry to search and extract the resource. This, although
a significant progress by industry, there yet remains another test the
UK fracking resource must pass in order to render shale gas
extraction feasible – it must be economically extractible and
sustainably so. Developing unconventional resources is much more
expensive and risky, and for shale gas wells, producing in
commercial volumes is conditional upon drilling horizontal wells and
hydraulic fracturing, techniques which increase CAPEX. Meanwhile,
investment in shale gas development projects is sensitive to gas price
and technical and geological risks. Using a Two-Factor Model, the
economics of the Bowland shale wells were analyzed and the
operational conditions under which fracking is profitable in the UK
was characterized. We find that there is a great degree of flexibility
about Opex spending; hence Opex does not pose much threat to the
fracking industry in the UK. However, we discover Bowland shale
gas wells fail to add value at gas price of $8/ Mmbtu. A minimum gas
price of $12/Mmbtu at Opex of no more than $2/ Mcf and no more
than $14.95M Capex are required to create value within the present
petroleum tax regime, in the UK fracking industry.
Abstract: The recent instability in economy was found to be
influencing the situation in Malaysia whether directly or indirectly.
Taking that into consideration, the government needs to find the best
approach to balance its citizen’s socio-economic strata level urgently.
Through education platform is among the efforts planned and acted
upon for the purpose of balancing the effects of the influence,
through the exposure of social entrepreneurial activity towards youth
especially those in higher institution level. Armed with knowledge
and skills that they gained, with the support by entrepreneurial
culture and environment while in campus; indirectly, the students will
lean more on making social entrepreneurship as a career option when
they graduate. Following the issues of marketability and workability
of current graduates that are becoming dire, research involving how
far the willingness of student to create social innovation that
contribute to the society without focusing solely on personal gain is
relevant enough to be conducted. With that, this research is
conducted with the purpose of identifying the level of entrepreneurial
intention and social entrepreneurship among higher institution
students in Malaysia. Stratified random sampling involves 355
undergraduate students from five public universities had been made
as research respondents and data were collected through surveys. The
data was then analyzed descriptively using min score and standard
deviation. The study found that the entrepreneurial intention of higher
education students are on moderate level, however it is the contrary
for social entrepreneurship activities, where it was shown on a high
level. This means that while the students only have moderate level of
willingness to be a social entrepreneur, they are very committed to
created social innovation through the social entrepreneurship
activities conducted. The implication from this study can be
contributed towards the higher institution authorities in prediction the
tendency of student in becoming social entrepreneurs. Thus, the
opportunities and facilities for realizing the courses related to social
entrepreneurship must be created expansively so that the vision of
creating as many social entrepreneurs as possible can be achieved.
Abstract: This paper applies recursive cointegration analysis to
examine the dynamic changes in Feldstein-Horioka saving-investment
(S-I) coefficients across China and the ASEAN-5 countries over time.
To the extent that the S-I coefficients measure international capital
mobility, the main empirical results are as follows. The recursive trace
statistics show that the investment- savings nexus varies in these six
countries. There is no cointegration between investment and savings in
three countries (China, Malaysia, and Singapore), which means that
the mobility of the capital markets in the three is high and that
domestic investment in them will be financed by the global pool of
capital. As to the other three countries (Indonesia, Thailand, and
Philippines), there is cointegration between investment and savings for
part of the sample period in the three, including before 2002 for
Thailand, before 2001 for Indonesia, and before 2002 for Philippines.
This shows these three countries achieved highly mobile and open
capital markets later.
Abstract: Debts reconstruction under some of moratorium
projects is one of important method that highly benefits to both the
Banks and farmers. The method can reduce probabilities for nonprofits
loan. This paper discuss about debts reconstruction and career
development training for farmers in Thailand between 2011 and
2013. The research designed is mix-method between quantitative
survey and qualitative survey. Sample size for quantitative method is
1003 cases. Data gathering procedure is between October and
December 2013. Main results affirmed that debts reconstruction is
needed. And there are numerous benefits from farmers’ career
development training. Many of farmers who attend field school
activities able to bring knowledge learned to apply for the farms’
work. They can reduce production costs. Framers’ quality of life and
their household well-being also improve. This program should apply
in any countries where farmers have highly debts and highly risks for
not return the debts.
Abstract: Large scale Indian manufacturers started
implementing Six Sigma to their supply core to fulfill the endless
need of high quality products. As well, they initiated encouraging
their suppliers to apply the well-ascertain SS management practice
and kept no resource for supplier enterprises, generally small midsized
enterprises to think for the admittance of Six Sigma as a quality
promotion drive. There are many issues to study for requisite changes
before the introduction of Six Sigma in auto SMEs. This paper
converges on impeding factors while implementing SS drive and also
pinpoints the gains achieved through successful implementation. The
result of this study suggest some operational guidelines for effective
implementation of Six Sigma from evidences acquired through
research questionnaire and interviews with industrial professionals,
apportioned to assort auto sector mid-sized enterprises (MSEs) in
India.
Abstract: The aim of this paper is to develop an empirical
research on the nature and consequences of corporate governance on
Eurozone Insurance Industry risk taking attitude. More particularly,
we analyzed the effect of public ownership on risk taking with
respect to privately held Insurance Companies. We also analyzed the
effects on risk taking attitude of different degrees of ownership
concentration, directors compensation, and the dimension/diversity of
the Board of Directors. Our results provide quite strong evidence that,
coherently with the Agency Theory, publicly traded insurance
companies with more concentrated ownership are less risky than the
corresponding privately held.
Abstract: The aim of this research is to understand how the
emerging power bloc BRICS employs infrastructure development
narratives to construct a new world order. BRICS is an international
body consisting of five emerging countries that collaborate on
economic and political issues: Brazil, Russia, India, China, and South
Africa. This study explores the projection of infrastructure
development narratives through an analysis of BRICS’ attention to
infrastructure investment and financing, its support of the New
Partnership on African Development and the establishment of the
New Development Bank in Shanghai. The theory of Strategic
Narratives is used to explore BRICS’ commitment to infrastructure
development and to distinguish three layers: system narratives
(BRICS as a global actor to propose development reform), identity
narratives (BRICS as a collective identity joining efforts to act upon
development aspirations) and issue narratives (BRICS committed to a
range of issues of which infrastructure development is prominent).
The methodology that is employed is a narrative analysis of BRICS’
official documents, media statements, and website imagery. A
comparison of these narratives illuminates tensions at the three layers
and among the five member states. Identifying tensions among
development infrastructure narratives provides an indication of how
policymaking for infrastructure development could be improved.
Subsequently, it advances BRICS’ ability to act as a global actor to
construct a new world order.
Abstract: HMS Industrial Networks AB has been recognized as
one of the most innovative companies in the industrial
communication industry worldwide. The creation of their Anybus
innovation during the 1990s contributed considerably to the
company’s success. From inception, HMS’ employees were
innovating for the purpose of creating new business (the creation
phase). After the Anybus innovation, they began the process of
internationalization (the commercialization phase), which in turn led
them to concentrate on cost reduction, product quality, delivery
precision, operational efficiency, and increasing growth (the growth
phase). As a result of this transformation, performing new radical
innovations have become more complicated. The purpose of our research was to explore the dynamics of
innovation at HMS from the aspect of key actors, activities, and
events, over the three phases, in order to understand what led to the
creation of their Anybus innovation, and why it has become
increasingly challenging for HMS to create new radical innovations
for the future. Our research methodology was based on a longitudinal,
retrospective study from the inception of HMS in 1988 to 2014, a
single case study inspired by the grounded theory approach. We
conducted 47 interviews and collected 1 024 historical documents for
our research. Our analysis has revealed that HMS’ success in creating the
Anybus, and developing a successful business around the innovation,
was based on three main capabilities – cultivating customer relations
on different managerial and organizational levels, inspiring business
relations, and balancing complementary human assets for the purpose
of business creation. The success of HMS has turned the management’s attention away
from past activities of key actors, of their behavior, and how they
influenced and stimulated the creation of radical innovations.
Nowadays, they are rhetorically focusing on creativity and
innovation. All the while, their real actions put emphasis on growth,
cost reduction, product quality, delivery precision, operational
efficiency, and moneymaking. In the process of becoming an
international company, HMS gradually refocused. In so doing they
became profitable and successful, but they also forgot what made
them innovative in the first place. Fortunately, HMS’ management
has come to realize that this is the case and they are now in search of
recapturing innovation once again. Our analysis indicates that HMS’ management is facing several
barriers to innovation related path dependency and other lock-in
phenomena. HMS’ management has been captured, trapped in their
mindset and actions, by the success of the past. But now their future has to be secured, and they have come to realize that moneymaking is
not everything. In recent years, HMS’ management have begun to
search for innovation once more, in order to recapture their past
capabilities for creating radical innovations. In order to unlock their
managerial perceptions of customer needs and their counter-innovation
driven activities and events, to utilize the full potential of
their employees and capture the innovation opportunity for the future.