Abstract: Recent financial international scandals around the world have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.
Abstract: We are proposing a simple watermarking method
based on visual cryptography. The method is based on selection of
specific pixels from the original image instead of random selection of
pixels as per Hwang [1] paper. Verification information is generated
which will be used to verify the ownership of the image without the
need to embed the watermark pattern into the original digital data.
Experimental results show the proposed method can recover the
watermark pattern from the marked data even if some changes are
made to the original digital data.
Abstract: This paper reports the findings of a research
conducted to evaluate the ownership and usage of technology devices
within Distance Education students- according to their age. This
research involved 45 Distance Education students from USM
Universiti Sains Malaysia (DEUSM) as its respondents. Data was
collected through questionnaire that had been developed by the
researchers based on some literature review. The data was analyzed
to find out the frequencies of respondents agreements towards
ownership of technology devices and the use of technology devices.
The findings shows that all respondents own mobile phone and
majority of them reveal that they use mobile on regular basis. The
student in the age 30-39 has the heist ownership of the technology
devices.
Abstract: The role of corporate governance is to reduce the
divergence of interests between shareholders and managers. The role
of corporate governance is more useful when managers have an
incentive to deviate from shareholders- interests. One example of
management-s deviation from shareholders- interests is the
management of earnings through the use of accounting accruals. This
paper examines the association between corporate governance
internal mechanisms ownership concentration, board independence,
the existence of CEO-Chairman duality and earnings management.
Firm size and leverage are control variables. The population used in
this study comprises firms listed on the Tehran Stock Exchange
(TSE) between 2004 and 2008, the sample comprises 196 firms.
Panel Data method is employed as technique to estimate the model.
We find that there is negative significant association between
ownership concentration and board independence manage earnings
with earnings management, there is negative significant association
between the existence of CEO-Chairman duality and earnings
management. This study also found a positive significant association
between control variable (firm size and leverage) and earnings
management.
Abstract: The recommendation of the committee on corporate
governance for public companies in Nigeria, that the position of the
CEO be separated from board chair has generated serious debate
among scholars and practitioners. They have questioned the
appropriateness of implementing corporate governance model that is
based on Anglo-Saxon agency problem characterized by dispersed
ownership structure; where markets for corporate control, legal
regulation, and contractual incentives are the key governance
mechanisms. This paper strives to resolve the argument by adopting
an institutional perspective in testing the agency theory on board
duality. The study developed a theoretical and empirical model to
better understand how ownership structure influences agency conflict
and how such affects firm performance. Hence, the study examines
the relationship between CEO duality and firm performance using
two institutional ownership structures – dispersed ownership and
concentrated ownership structures. The empirical results show that
CEO duality is negatively correlated with firm performance in
Nigeria irrespective of the firm-s ownership structure. The findings
give credence to the recommendation of the Peterside Commission
on the need to separate the position of CEO from board chair.
Abstract: In recent years, “Bottom-up Planning Approach" has been widely accepted and expanded from planning theorists. Citizen participation becomes more important in decision-making in informal settlements. Many of previous projects and strategies due to ignorance of citizen participation, have been failed facing with informal settlements and in some cases lead physical expansion of these neighbourhoods. According to recent experiences, the new participatory approach was in somehow successful. This paper focuses on local experiences in Iran. A considerable amount of people live in informal settlements in Iran. With the previous methods, the government could not solve the problems of these settlements. It is time to examine new methods such as empowerment of the local citizens and involve them to solve the current physical, social, and economic problems. The paper aims to address the previous and new strategies facing with informal settlements, the conditions under which citizens could be involved in planning process, limits and potentials of this process, the main actors and issues and finally motivations that are able to promote citizen participation. Documentary studies, observation, interview and questionnaire have been used to achieve the above mentioned objectives. Nearly 80 percent of responder in Saadi Community are ready to participate in regularising their neighbourhoods, if pre-conditions of citizen involvement are being provided. These pre-conditions include kind of problem and its severity, the importance of issue, existence of a short-term solution, etc. Moreover, confirmation of dweller-s ownership can promote the citizen engagement in participatory projects.
Abstract: In the past 20 years the economy of the Czech
Republic has experienced substantial changes. In the 1990s the
development was affected by the transformation which sought to
establish the right conditions for privatization and creation of
elementary market relations. In the last decade the characteristic
elements such as private ownership and corresponding institutional
framework have been strengthened. This development was marked by
the accession of the Czech Republic to the EU. The Czech Republic
is striving to reduce the difference between its level of economic
development and the quality of institutional framework in
comparison with other developed countries. The process of finding
the adequate solutions has been hampered by the negative impact of
the world financial crisis on the Czech Republic and the standard of
living of its inhabitants. This contribution seeks to address the
question of whether and to which extent the economic development
of the transitive Czech economy is affected by the change in
behaviour of households and their tendency to consumption, i.e. in
the sense of reduction or increase in demand for goods and services.
It aims to verify whether the increasing trend of household
indebtedness and decreasing trend of saving pose a significant risk in
the Czech Republic. At a general level the analysis aims to contribute
to finding an answer to the question of whether the debt increase of
Czech households is connected to the risk of "eating through" the
borrowed money and whether Czech households risk falling into a
debt trap. In addition to household indebtedness risks in the Czech
Republic the analysis will focus on identification of specifics of the
transformation phase of the Czech economy in comparison with the
EU countries, or selected OECD countries.
Abstract: Technology transfer of renewable energy technologies is very often unsuccessful in the developing world. Aside from challenges that have social, economic, financial, institutional and environmental dimensions, technology transfer has generally been misunderstood, and largely seen as mere delivery of high tech equipment from developed to developing countries or within the developing world from R&D institutions to society. Technology transfer entails much more, including, but not limited to: entire systems and their component parts, know-how, goods and services, equipment, and organisational and managerial procedures. Means to facilitate the successful transfer of energy technologies, including the sharing of lessons are subsequently extremely important for developing countries as they grapple with increasing energy needs to sustain adequate economic growth and development. Improving the success of technology transfer is an ongoing process as more projects are implemented, new problems are encountered and new lessons are learnt. Renewable energy is also critical to improve the quality of lives of the majority of people in developing countries. In rural areas energy is primarily traditional biomass. The consumption activities typically occur in an inefficient manner, thus working against the notion of sustainable development. This paper explores the implementation of technology transfer in the developing world (sub-Saharan Africa). The focus is necessarily on RETs since most rural energy initiatives are RETs-based. Additionally, it aims to highlight some lessons drawn from the cited RE projects and identifies notable differences where energy technology transfer was judged to be successful. This is done through a literature review based on a selection of documented case studies which are judged against the definition provided for technology transfer. This paper also puts forth research recommendations that might contribute to improved technology transfer in the developing world. Key findings of this paper include: Technology transfer cannot be complete without satisfying pre-conditions such as: affordability, maintenance (and associated plans), knowledge and skills transfer, appropriate know how, ownership and commitment, ability to adapt technology, sound business principles such as financial viability and sustainability, project management, relevance and many others. It is also shown that lessons are learnt in both successful and unsuccessful projects.
Abstract: Political transition of agricultural properties in Poland and the former German Democratic Republic (GDR) after 1989 had
to include not only Reprivatization but also the issue of returning the
properties in kind to their former owners. Restitution in kind applied
in GDR to all forms of ownership which were subject to
expropriation between 1933 and 1989 except for properties taken
over during Soviet occupation in 1945-49. This issue was one of the flashpoints during the process of ownership changes. Privatization,
limited as it was, took place in unequal legal environment where only
one group of owners was privileged. Executing restitution in kind
created a feeling of uncertainty among potential real estate buyers.
Abstract: In this paper, a novel copyright protection scheme for digital images based on Visual Cryptography and Statistics is proposed. In our scheme, the theories and properties of sampling distribution of means and visual cryptography are employed to achieve the requirements of robustness and security. Our method does not need to alter the original image and can identify the ownership without resorting to the original image. Besides, our method allows multiple watermarks to be registered for a single host image without causing any damage to other hidden watermarks. Moreover, it is also possible for our scheme to cast a larger watermark into a smaller host image. Finally, experimental results will show the robustness of our scheme against several common attacks.
Abstract: Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analyzed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.
Abstract: In this work, we present for the first time in our
perception an efficient digital watermarking scheme for mpeg audio
layer 3 files that operates directly in the compressed data domain,
while manipulating the time and subband/channel domain. In
addition, it does not need the original signal to detect the watermark.
Our scheme was implemented taking special care for the efficient
usage of the two limited resources of computer systems: time and
space. It offers to the industrial user the capability of watermark
embedding and detection in time immediately comparable to the real
music time of the original audio file that depends on the mpeg
compression, while the end user/audience does not face any artifacts
or delays hearing the watermarked audio file. Furthermore, it
overcomes the disadvantage of algorithms operating in the PCMData
domain to be vulnerable to compression/recompression attacks,
as it places the watermark in the scale factors domain and not in the
digitized sound audio data. The strength of our scheme, that allows it
to be used with success in both authentication and copyright
protection, relies on the fact that it gives to the users the enhanced
capability their ownership of the audio file not to be accomplished
simply by detecting the bit pattern that comprises the watermark
itself, but by showing that the legal owner knows a hard to compute
property of the watermark.
Abstract: In this paper, a novel scheme is proposed for Ownership Identification and Color Image Authentication by deploying Cryptography & Digital Watermarking. The color image is first transformed from RGB to YST color space exclusively designed for watermarking. Followed by color space transformation, each channel is divided into 4×4 non-overlapping blocks with selection of central 2×2 sub-blocks. Depending upon the channel selected two to three LSBs of each central 2×2 sub-block are set to zero to hold the ownership, authentication and recovery information. The size & position of sub-block is important for correct localization, enhanced security & fast computation. As YS ÔèÑ T so it is suitable to embed the recovery information apart from the ownership and authentication information, therefore 4×4 block of T channel along with ownership information is then deployed by SHA160 to compute the content based hash that is unique and invulnerable to birthday attack or hash collision instead of using MD5 that may raise the condition i.e. H(m)=H(m'). For recovery, intensity mean of 4x4 block of each channel is computed and encoded upto eight bits. For watermark embedding, key based mapping of blocks is performed using 2DTorus Automorphism. Our scheme is oblivious, generates highly imperceptible images with correct localization of tampering within reasonable time and has the ability to recover the original work with probability of near one.
Abstract: A passive system "Qanat" is collection of some
underground wells. A mother-well was dug in a place far from the
city where they could reach to the water table maybe 100 meters
underground, they dug other wells to direct water toward the city,
with minimum possible gradient. Using the slope of the earth they
could bring water close to the surface in the city. The source of water
or the appearance of Qanat, land slope and the ownership lines are
the important and effective factors in the formation of routes and the
segment division of lands to the extent that making use of Qanat as
the techniques of extracting underground waters creates a channel of
routes with an organic order and hierarchy coinciding the slope of
land and it also guides the Qanat waters in the tradition texture of salt
desert and border provinces of it. Qanats are excavated in a specified
distinction from each other. The quantity of water provided by
Qanats depends on the kind of land, distance from mountain,
geographical situation of them and the rate of water supply from the
underground land. The rate of underground waters, possibility of
Qanat excavation, number of Qanats and rate of their water supply
from one hand and the quantity of cultivable fertile lands from the
other hand are the important natural factors making the size of cities.
In the same manner the cities with several Qanats have multi central
textures. The location of cities is in direct relation with land quality,
soil fertility and possibility of using underground water by excavating
Qanats. Observing the allowable distance for Qanat watering is a
determining factor for distance between villages and cities.
Topography, land slope, soil quality, watering system, ownership,
kind of cultivation, etc. are the effective factors in directing Qanats
for excavation and guiding water toward the cultivable lands and it
also causes the formation of different textures in land division of
farming provinces. Several divisions such as orderly and wide, inorderly,
thin and long, comb like, etc. are the introduction to organic
order. And at the same time they are complete coincidence with
environmental conditions in the typical development of ecological
architecture and planning in the traditional cities and settlements
order.
Abstract: In this paper, a novel scheme is proposed for ownership identification and authentication using color images by deploying Cryptography and Digital Watermarking as underlaying technologies. The former is used to compute the contents based hash and the latter to embed the watermark. The host image that will claim to be the rightful owner is first transformed from RGB to YST color space exclusively designed for watermarking based applications. Geometrically YS ÔèÑ T and T channel corresponds to the chrominance component of color image, therefore suitable for embedding the watermark. The T channel is divided into 4×4 nonoverlapping blocks. The size of block is important for enhanced localization, security and low computation. Each block along with ownership information is then deployed by SHA160, a one way hash function to compute the content based hash, which is always unique and resistant against birthday attack instead of using MD5 that may raise the condition i.e. H(m)=H(m'). The watermark payload varies from block to block and computed by the variance factorα . The quality of watermarked images is quite high both subjectively and objectively. Our scheme is blind, computationally fast and exactly locates the tampered region.
Abstract: The Taiwan government has invested approximately
21 billion NT dollars in the construction of bicycle paths since
bicycling has gained huge popularity as a healthy leisure and
recreational activity. This study focuses on the behavior of
recreational bicyclists in Danshuei and Bali, northern Taiwan. Data
were collected from a field investigation carried out along the
Danshuei bicycle path and Bali left-bank bicycle path. A total of 578
questionnaires were gathered for data analysis. Descriptive statistics
and Chi-Square tests were used to assess bicyclists- behaviors. The
frequency shows that, in these areas, Danshuei and Bali, most
bicyclists rented bicycles, rode the bicycle path in the afternoon for
about 2 hours. The used the bicycle path one time per week. For most,
it was the first time to ride these bicycle paths. There were significant
differences in distribution of bicycle ownership, time of day, duration
of ride, ride frequency, and whether riding occurred on weekdays or
weekends. Results indicated that most bicyclists in Danshuei and Bali
were infrequent users.
Abstract: The right to housing is a basic need while good
quality and affordable housing is a reflection of a high quality of life.
However, housing remains a major problem for most, especially for
the bottom billions. Satisfaction on housing and neighbourhood
conditions are one of the important indicators that reflect quality of
life. These indicators are also important in the process of evaluating
housing policy with the objective to increase the quality of housing
and neighbourhood. The research method is purely based on a
quantitative method, using a survey. The findings show that housing
purchasing trend in urban Malaysia is determined by demographic
profiles, mainly by education level, age, gender and income. The
period of housing ownership also influenced the socio-cultural
interactions and satisfaction of house owners with their
neighbourhoods. The findings also show that the main concerns for
house buyers in urban areas are price and location of the house.
Respondents feel that houses in urban Malaysia is too expensive and
beyond their affordability. Location of houses and distance from
work place are also regarded as the main concern. However,
respondents are fairly satisfied with religious and socio-cultural
facilities in the housing areas and most importantly not many regard
ethnicity as an issue in their decision-making, when buying a house.
Abstract: The aim of this paper is to investigate the influence of
market share and diversification on the nonlife insurers- performance.
The underlying relationships have been investigated in different
industries and different disciplines (economics, management...), still,
no consistency exists either in the magnitude or statistical
significance of the relationship between market share (and
diversification as well) on one side and companies- performance on
the other side. Moreover, the direction of the relationship is also
somewhat questionable. While some authors find this relationship to
be positive, the others reveal its negative association. In order to test
the influence of market share and diversification on companies-
performance in Croatian nonlife insurance industry for the period
from 1999 to 2009, we designed an empirical model in which we
included the following independent variables: firms- profitability
from previous years, market share, diversification and control
variables (i.e. ownership, industrial concentration, GDP per capita,
inflation). Using the two-step generalized method of moments
(GMM) estimator we found evidence of a positive and statistically
significant influence of both, market share and diversification, on
insurers- profitability.
Abstract: In Algeria, liberalization reforms undertaken since the 1990s have resulted in negative effects on the development and management of irrigation schemes, as well as on the conditions of farmers. Reforms have been undertaken to improve the performance of irrigation schemes, such as the national plan of agricultural development (PNDA) in 2000 and the water pricing policy of 2005. However, after implementation of these policies, questions have arisen with regard to irrigation performance and its suitability for agricultural development. Hence, the aim of this paper is to provide insight into the profitability of irrigation during the transition period under current irrigation agricultural policies in Algeria. By using the method of farm crop budget analysis in the East Mitidja irrigation scheme, the returns from using surface water resources based on farm typology were found to vary among crops and farmers- groups within the scheme. Irrigation under the current situation is profitable for all farmers, including both those who benefit from subsidies and those who do not. However, the returns to water were found to be very sensitive to crop price fluctuations, particularly for non-subsidized groups and less so for those whose farming is based on orchards. Moreover, the socio-economic environment of the farmers contributed to less significant impacts of the PNDA policy. In fact, the limiting factor is not only the water, but also the lack of land ownership title. Market access constraints led to less agricultural investment and therefore to low intensification and low water productivity. It is financially feasible to recover the annual O&M costs in the irrigation scheme. By comparing the irrigation water price, returns to water, and O&M costs of water delivery, it is clear that irrigation can be profitable in the future. However, water productivity must be improved by enhancing farmers- income through farming investment, improving assets access, and the allocation of activities and crops which bring high returns to water; this could allow the farmers to pay more for water and allow cost recovery for water systems.
Abstract: Innovations in technology have created new ethical
challenges. Essential use of electronic communication in the
workplace has escalated at an astronomical rate over the past decade.
As such, legal and ethical dilemmas confronted by both the employer
and the employee concerning managerial control and ownership of einformation
have increased dramatically in the USA. From the
employer-s perspective, ownership and control of all information
created for the workplace is an undeniable source of economic
advantage and must be monitored zealously. From the perspective of
the employee, individual rights, such as privacy, freedom of speech,
and freedom from unreasonable search and seizure, continue to be
stalwart legal guarantees that employers are not legally or ethically
entitled to abridge in the workplace. These issues have been the
source of great debate and the catalyst for legal reform. The fine line
between ethical and legal has been complicated by emerging
technologies. This manuscript will identify and discuss a number of
specific legal and ethical issues raised by the dynamic electronic
workplace and conclude with suggestions that employers should
follow to respect the delicate balance between employees- legal
rights to privacy and the employer's right to protect its knowledge
systems and infrastructure.