bluuebunny/crossref_metadata_2025 huggingface dataset:
Exchange Rate and Trade Balance of Bangladesh: Causality and Cointegration Analysis
Authors: Mostofa Md Golam , Rashid Md Abdur
Published: December 2015

We investigate the interrelationship between the monthly trade balance and exchange rate data of Bangladesh. We find the existence of cointegration between these two variables. Error correction model reveals that the speed of adjustment coefficient of the trade balance equation corrects about 13% of any deviation from the long-run path within a month with a unidirectional causality running from exchange rate to trade balance. While the speed of adjustment coefficient of the exchange rate equation corrects only 0.003% within a month. This is somewhat slow and statistically insignificant.Journal of Business and Technology (Dhaka) Vol.9(2) 2014; 15-25
Women Entrepreneurs in Bangladesh- Challenges and Determining Factors
Authors: Afroze Tania , Alam Md Kashrul , Akther Eliza , Jui Nahid Sultana
Published: December 2015

The aim of this study is to find out the major challenges that hinder smooth operation of women entrepreneurs of Bangladesh. It also finds the reasons behind the success of the women entrepreneurship. Both primary and secondary data have been used to conduct the study. The questionnaire included questions about economic problems, family related issues, social constraints and other limitations faced by women entrepreneurs and the reasons behind their success. Women involved in various small and medium enterprises take on the challenge to work in a male-dominated society, competitive and complex economic and business environment. However, the identified challenges are inadequate capital, sales promotion, getting permission to start-up a business, gender discrimination, illiteracy and lack of knowledge among women, non-availability of training program and technical support, lack of managerial experience, in some cases young people make ill talk about the enterprise and so on. Personal qualities such as hard work and perseverance, management skills and marketing skills, support provided by their spouses or family are the main reasons behind the success of the women entrepreneurs. The level of participation of women in mainstream economic activities remains insufficient and the percentage of women in business is still much below than that of their male counterparts.Journal of Business and Technology (Dhaka) Vol.9(2) 2014; 27-41
Applying extracellular vesicles based therapeutics in clinical trials – an ISEV position paper
Authors: Lener Thomas , Gimona Mario , Aigner Ludwig , Börger Verena , Buzas Edit , Camussi Giovanni , Chaput Nathalie , Chatterjee Devasis , Court Felipe A. , del Portillo Hernando A. , O'Driscoll Lorraine , Fais Stefano , Falcon‐Perez Juan M. , Felderhoff‐Mueser Ursula , Fraile Lorenzo , Gho Yong Song , Görgens André , Gupta Ramesh C. , Hendrix An , Hermann Dirk M. , Hill Andrew F. , Hochberg Fred , Horn Peter A. , de Kleijn Dominique , Kordelas Lambros , Kramer Boris W. , Krämer‐Albers Eva‐Maria , Laner‐Plamberger Sandra , Laitinen Saara , Leonardi Tommaso , Lorenowicz Magdalena J. , Lim Sai Kiang , Lötvall Jan , Maguire Casey A. , Marcilla Antonio , Nazarenko Irina , Ochiya Takahiro , Patel Tushar , Pedersen Shona , Pocsfalvi Gabriella , Pluchino Stefano , Quesenberry Peter , Reischl Ilona G. , Rivera Francisco J. , Sanzenbacher Ralf , Schallmoser Katharina , Slaper‐Cortenbach Ineke , Strunk Dirk , Tonn Torsten , Vader Pieter , van Balkom Bas W. M. , Wauben Marca , Andaloussi Samir El , Théry Clotilde , Rohde Eva , Giebel Bernd
Published: December 2015

Extracellular vesicles (EVs), such as exosomes and microvesicles, are released by different cell types and participate in physiological and pathophysiological processes. EVs mediate intercellular communication as cell‐derived extracellular signalling organelles that transmit specific information from their cell of origin to their target cells. As a result of these properties, EVs of defined cell types may serve as novel tools for various therapeutic approaches, including (a) anti‐tumour therapy, (b) pathogen vaccination, (c) immune‐modulatory and regenerative therapies and (d) drug delivery. The translation of EVs into clinical therapies requires the categorization of EV‐based therapeutics in compliance with existing regulatory frameworks. As the classification defines subsequent requirements for manufacturing, quality control and clinical investigation, it is of major importance to define whether EVs are considered the active drug components or primarily serve as drug delivery vehicles. For an effective and particularly safe translation of EV‐based therapies into clinical practice, a high level of cooperation between researchers, clinicians and competent authorities is essential. In this position statement, basic and clinical scientists, as members of the International Society for Extracellular Vesicles (ISEV) and of the European Cooperation in Science and Technology (COST) program of the European Union, namely European Network on Microvesicles and Exosomes in Health and Disease (ME‐HaD), summarize recent developments and the current knowledge of EV‐based therapies. Aspects of safety and regulatory requirements that must be considered for pharmaceutical manufacturing and clinical application are highlighted. Production and quality control processes are discussed. Strategies to promote the therapeutic application of EVs in future clinical studies are addressed.
Life After a Festival: Local Leadership and The Lasting Legacy of Festivals
Authors: Davies Amanda
Published: December 2015

This article considers how local leadership capacities can be developed through locally organized festivals and argues that this skill development can be an important legacy of festivals. It draws on the case study of SnowFest, a festival held annually from 2000 to 2003 in a small rural
town in New South Wales, Australia. It is argued that festivals provide a useful setting for the development of local leadership capacities. Through reviewing the events leading up to and following SnowFest it was found that seven followers learned new leadership skills through their involvement
in SnowFest. Four of these followers had since moved into leadership roles in the community. The particular nature of the leadership of the SnowFest leaders was important in enabling followers to develop their own leadership skills. The article contributes to the growing body of scholarly
work that argues the impacts and benefits of locally organized festivals can extend beyond the spatial and temporal limits of the festival event and therefore beyond the scope of typical evaluation tools. The findings of this study are particularly relevant to small rural communities that
are negotiating major socioeconomic changes, where effective local leadership has been identified as being crucial to the success of bottom-up community adaptation initiatives.
Incentive Travel: a Theoretical Perspective
Authors: Mair Judith
Published: December 2015

Despite the economic importance of the meetings, incentives, conferences, and exhibitions (MICE) industry, it remains relatively underresearched. The area of incentive travel is particularly lacking in academic research and remains without a strong theoretical foundation. Anecdotal
evidence suggests that incentive travel is seen as an important and significant reward by organizations and their employees. However, while considerable research has examined how to motivate employees in the workplace, including the use of incentives, there has been little examination of why
travel makes such as good incentive. In an effort to address this gap, this conceptual article integrates tourism motivation literature with the literature on employee motivation, with particular reference to expectancy theory. Expectancy theory suggests that the valence of a reward (its attractiveness)
is a key component of motivating employees. Travel motivation theory helps to explain which particular aspects of travel make it an attractive reward. The article presents an introductory conceptual framework for understanding the relationship between incentive travel and employee motivations
and acts as a foundation for future research in this area.
Monocyte- and Neutrophil-Derived CXCL10 Impairs Efficient Control of Blood-Stage Malaria Infection and Promotes Severe Disease
Authors: Ioannidis Lisa J. , Nie Catherine Q. , Ly Ann , Ryg-Cornejo Victoria , Chiu Chris Y. , Hansen Diana S.
Published: December 2015

CXCL10, or IFN-γ–inducible protein 10, is a biomarker associated with increased risk for Plasmodium falciparum–mediated cerebral malaria (CM). Consistent with this, we have previously shown that CXCL10 neutralization or genetic deletion alleviates brain intravascular inflammation and protects Plasmodium berghei ANKA-infected mice from CM. In addition to organ-specific effects, the absence of CXCL10 during infection was also found to reduce parasite biomass. To identify the cellular sources of CXCL10 responsible for these processes, we irradiated and reconstituted wild-type (WT) and CXCL10−/− mice with bone marrow from either WT or CXCL10−/− mice. Similar to CXCL10−/− mice, chimeras unable to express CXCL10 in hematopoietic-derived cells controlled infection more efficiently than WT controls. In contrast, expression of CXCL10 in knockout mice reconstituted with WT bone marrow resulted in high parasite biomass levels, higher brain parasite and leukocyte sequestration rates, and increased susceptibility to CM. Neutrophils and inflammatory monocytes were identified as the main cellular sources of CXCL10 responsible for the induction of these processes. The improved control of parasitemia observed in the absence of CXCL10-mediated trafficking was associated with a preferential accumulation of CXCR3+CD4+ T follicular helper cells in the spleen and enhanced Ab responses to infection. These results are consistent with the notion that some inflammatory responses elicited in response to malaria infection contribute to the development of high parasite densities involved in the induction of severe disease in target organs.
Human Neutrophils Use Different Mechanisms To Kill Aspergillus fumigatus Conidia and Hyphae: Evidence from Phagocyte Defects
Authors: Gazendam Roel P. , van Hamme John L. , Tool Anton T. J. , Hoogenboezem Mark , van den Berg J. Merlijn , Prins Jan M. , Vitkov Ljubomir , van de Veerdonk Frank L. , van den Berg Timo K. , Roos Dirk , Kuijpers Taco W.
Published: December 2015

Neutrophils are known to play a pivotal role in the host defense against Aspergillus infections. This is illustrated by the prevalence of Aspergillus infections in patients with neutropenia or phagocyte functional defects, such as chronic granulomatous disease. However, the mechanisms by which human neutrophils recognize and kill Aspergillus are poorly understood. In this work, we have studied in detail which neutrophil functions, including neutrophil extracellular trap (NET) formation, are involved in the killing of Aspergillus fumigatus conidia and hyphae, using neutrophils from patients with well-defined genetic immunodeficiencies. Recognition of conidia involves integrin CD11b/CD18 (and not dectin-1), which triggers a PI3K-dependent nonoxidative intracellular mechanism of killing. When the conidia escape from early killing and germinate, the extracellular destruction of the Aspergillus hyphae needs opsonization by Abs and involves predominantly recognition via Fcγ receptors, signaling via Syk, PI3K, and protein kinase C to trigger the production of toxic reactive oxygen metabolites by the NADPH oxidase and myeloperoxidase. A. fumigatus induces NET formation; however, NETs did not contribute to A. fumigatus killing. Thus, our findings reveal distinct killing mechanisms of Aspergillus conidia and hyphae by human neutrophils, leading to a comprehensive insight in the innate antifungal response.
Complement Component 3 Is Regulated by TWIST1 and Mediates Epithelial–Mesenchymal Transition
Authors: Cho Min Soon , Rupaimoole Rajesha , Choi Hyun-Jin , Noh Kyunghee , Chen Jichao , Hu Qianghua , Sood Anil K. , Afshar-Kharghan Vahid
Published: December 2015

We have previously shown that complement component 3 (C3) is secreted by malignant epithelial cells. To understand the mechanism of upregulation of C3 expression in tumor cells, we studied the C3 promoter and identified that twist basic helix–loop–helix transcription factor 1 (TWIST1) binds to the C3 promoter and enhances its expression. Because TWIST1 mediates epithelial–mesenchymal transition (EMT), we studied the effect of C3 on EMT and found that C3 decreased E-cadherin expression on cancer cells and promoted EMT. We showed that C3-induced reduction in E-cadherin expression in ovarian cancer cells was mediated by C3a and is Krüppel-like factor 5 dependent. We investigated the association between TWIST1 and C3 in malignant tumors and in murine embryos. TWIST1 and C3 colocalized at the invasive tumor edges, and in the neural crest and limb buds of mouse embryos. Our results identified TWIST1 as a transcription factor that regulates C3 expression during pathologic and physiologic EMT.
True cervicothoracic meningocele: a rare and benign condition
Authors: Pessoa Bruno L. , Lima Yara , Orsini Marco
Published: December 2015

Cervical meningoceles are rare spinal dysraphism, accounting for approximately 7% of all cystic spinal dysraphism. In spite of the rarity, the clinical course is most of the times benign. The surgical treatment includes resection of the lesion and untethering, when presented. We present a 14-day-old female child with true meningoceles who underwent to surgical excision and dura-mater repair. Retrospect analysis of the literature concerning true cervical meningocele is performed. By reporting this illustrative case, we focus on its classification and its differentiation from other types of cervical spinal dysraphism, such as myelocystocele and myelomeningocele. Although its course is benign, it is mandatory a continuum follow up with periodic magnetic resonance imaging of spinal cord, since late neurological deterioration has been described.
Palm to finger ulnar sensory nerve conduction
Authors: Davidowich Eduardo , Nascimento Osvaldo J.M. , Orsini Marco , Pupe Camila , Pessoa Bruno , Bittar Caroline , Pires Karina Lebeis , Bruno Carlos , Coutinho Bruno Mattos , De Souza Olivia Gameiro , Ribeiro Pedro , Velasques Bruna , Bittencourt Juliana , Teixeira Silmar , Bastos Victor Hugo
Published: December 2015

Ulnar neuropathy at the wrist (UNW) is rare, and always challenging to localize. To increase the sensitivity and specificity of the diagnosis of UNW many authors advocate the stimulation of the ulnar nerve (UN) in the segment of the wrist and palm. The focus of this paper is to present a modified and simplified technique of sensory nerve conduction (SNC) of the UN in the wrist and palm segments and demonstrate the validity of this technique in the study of five cases of type III UNW. The SNC of UN was performed antidromically with fifth finger ring recording electrodes. The UN was stimulated 14 cm proximal to the active electrode (the standard way) and 7 cm proximal to the active electrode. The normal data from amplitude and conduction velocity (CV) ratios between the palm to finger and wrist to finger segments were obtained. Normal amplitude ratio was 1.4 to 0.76. Normal CV ratio was 0.8 to 1.23.We found evidences of abnormal SNAP amplitude ratio or substantial slowing of UN sensory fibers across the wrist in 5 of the 5 patients with electrophysiological-definite type III UNW.
Cardiac Tamponade as Initial Presentation of Hodgkin Lymphoma
Authors: Hajra Adrija , Bandyopadhyay Dhrubajyoti , Layek Manas , Mukhopadhyay Sabyasachi
Published: December 2015

Cardiac involvement in malignant lymphoma is one of the least investigated subjects. Pericardial effusion is rarely symptomatic in patients of Hodgkin lymphoma (HL). Few case reports are available in the literature. There are case reports of diagnosed HL patients presenting with pericardial effusion. HL patients who present with recurrent episodes of pericardial effusion have also been reported. Pericardial effusion has also been reported in cases of non HL. However, pericardial effusion leading to cardiac tamponade as an initial presentation of HL is extremely rare. Very few such cases are there in the literature. Here, we present a case of a 26-year-old male patient who presented with cardiac tamponade and in due course was found to be a case of classical type of HL. This case is interesting because of its presentation.
Understanding the Provision of Assistive Mobility and Daily Living Devices and Service Delivery to Veterans After Stroke
Authors: Kairalla John A. , Winkler Sandra L. , Feng Hua
Published: December 2015

OBJECTIVE. The objective of this study was to determine whether facility-level, structural factors affect the provision of assistive devices and services.

DESIGN. A retrospective design was used. Activities of daily living and mobility-related devices were categorized into 11 types. Logistic regression models were performed for each type of device, controlling for patient-level and facility-level covariates.

RESULTS. Non–veteran-level factors significantly affect the provision of assistive devices, even after covariate adjustment. Increased rehabilitation clinician staffing by 1 full-time equivalent position was associated with increased provision odds of 1%–5% for 5 of 11 types of devices. Lower facility complexity was significantly associated with increased provision odds of 35%–59% for 3 types of devices and with decreased provision odds of 16%–69% for 3 types of devices.

CONCLUSION. System-level factors, in addition to patient need, significantly affect the provision of assistive devices. Provision guidelines could assist clinicians in making decisions about device provision.
Occupational Engagement and Adults With Intellectual Disabilities
Authors: Mahoney Wanda J. , Roberts Elysa , Bryze Kimberly , Parker Kent Judith A.
Published: December 2015

People with intellectual disabilities may be predisposed to occupational alienation as a result of an inherent need for ongoing support and limited understanding of how they express choice and engagement in occupation. In response to this risk of occupational injustice, this phenomenological study explored the occupational engagement of adults with intellectual disabilities in a community-based day program. Data were collected through interviews using visual supports and through observation of activity groups using the Volitional Questionnaire. Thematic analysis illustrated how participants demonstrated engagement in occupation through doing activity/initiating action, expressing positive affect, and showing focused attention. Findings can inform how occupational therapy practitioners describe and facilitate occupational engagement in adults with intellectual disabilities.
Use of a Modified Frazier Water Protocol in Critical Illness Survivors With Pulmonary Compromise and Dysphagia: A Pilot Study
Authors: Bernard Shari , Loeslie Vicki , Rabatin Jeffrey
Published: December 2015

Limited information is available regarding use of the Frazier free water protocol (FWP) with hospitalized patients who have dysphagia and have survived a critical illness with compromised pulmonary status. This pilot study used a two-group nonequivalent comparison group design to evaluate the FWP in 15 adults admitted to a respiratory care unit (RCU) with dysphagia concerns. Inclusion criteria included recommendation for a modified diet with thickened liquids by a dysphagia therapist and ability to follow the specific free water guidelines. The 15 control participants were chosen from a retrospective chart review of consecutive RCU admissions that met the same inclusion criteria. The intervention group for whom the free water guidelines were implemented did not differ significantly from the control group in rate of development of aspiration pneumonia, χ2(30) = .01, p = 1.00.
Head Lag in Infancy: What Is It Telling Us?
Authors: Pineda Roberta G. , Reynolds Lauren C. , Seefeldt Kristin , Hilton Claudia L. , Rogers Cynthia E. , Inder Terrie E.
Published: December 2015

OBJECTIVE. To investigate changes in head lag across postmenstrual age and define associations between head lag and (1) perinatal exposures and (2) neurodevelopment.

METHOD. Sixty-four infants born ≤30 wk gestation had head lag assessed before and at term-equivalent age. Neurobehavior was assessed at term age. At 2 yr, neurodevelopmental testing was conducted.

RESULTS. Head lag decreased with advancing postmenstrual age, but 58% (n = 37) of infants continued to demonstrate head lag at term. Head lag was associated with longer stay in the neonatal intensive care unit (p = .009), inotrope use (p = .04), sepsis (p = .02), longer endotracheal intubation (p = .01), and cerebral injury (p = .006). Head lag was related to alterations in early neurobehavior (p < .03), but no associations with neurodevelopment were found at 2 yr.

CONCLUSION. Head lag was related to medical factors and early neurobehavior, but it may not be a good predictor of outcome when used in isolation.
A Preliminary Pilot Study Comparing Dialectical Behavior Therapy Emotion Regulation Skills with Interpersonal Effectiveness Skills and a Control Group Treatment
Authors: Dixon-Gordon Katherine L. , Chapman Alexander L. , Turner Brianna J.
Published: December 2015

This pilot study examined the effects of dialectical behavior therapy (DBT) emotion regulation (ER) skills training for borderline personality disorder (BPD). To date, studies have yet to reveal whether specific DBT skill modules uniquely improve ER problems - one of the putative factors considered to underlie clinical problems in BPD. This preliminary examination aimed to characterize the effect sizes of DBT-ER compared to DBT interpersonal effectiveness (DBT-IE) skills training. Women with BPD (N = 19) were randomized to 6-weeks of DBT-ER, DBT-IE, or a control group. BPD symptoms, emotion regulation, and other BPD-relevant outcomes were assessed using self-report and laboratory-based measures. The DBT-ER group demonstrated large effect sizes for improved self-reported reactivity to an emotional stressor, generation of active rather than passive solutions to interpersonal problems, as well as self-reported distress tolerance, mindfulness, and BPD symptoms following treatment. At follow-up, DBT-ER training was also associated with large improvements in ER, social problem solving, and depression. Similarly large effect sizes, however, were sometimes also achieved in the DBT-IE and control condition. Significant condition x time interactions were detected for non-suicidal self-injury and mindfulness, with significant improvements occurring only in the DBT-ER group, whereas such interactions were not detected for other outcomes. These findings, although preliminary, can stimulate future research examining the specificity of DBT skills.
John Dewey and Entrepreneurship in School-A Swedish Case
Authors: Lindster Norberg Eva-Lena
Published: December 2015

Progressive education, with its purpose of educating young people to become democratic citizens, has influenced the Swedish educational system for many years. Critical voices have been raised, claiming that progressive education has diminished Swedish pupils’ results. Since 2011, when entrepreneurship as a concept and as a pedagogical approach was instituted in Swedish curricula, the debate has emerged again. In this case, however, the problem was with the pedagogical ideas of the entrepreneurship in school. Critical voices claim that entrepreneurship is a part of the neoliberal agenda and that the language of progressive education has been appropriated and misused in order to create productive citizens who will maintain the capitalist state. This article is written from the perspective of pupils in an upper secondary school, illuminating and problematizing the sense in which the entrepreneurship in school can be said to be progressive in the spirit of John Dewey. The result shows that the entrepreneurship in school contains many similarities with the ideas of progressive education, especially in the way that pupils work and take part in activities. However, the lack of pupils who talk about learning to improve future society or to develop democracy is obvious. Thus, even if working methods seem to be equal, the overall educational goals are different. The goal of entrepreneurship in school is to educate young people to become independent, innovative individuals but in that education mission, there is a risk that democratic values are neglected.
A Study of Traveller Decision-Making Determinants: Prioritizing Destination or Travel Mode?
Authors: Garcia Jaume , Juaneda Catalina , Raya Josep María , Sastre Francesc
Published: December 2015

This paper focuses on how travellers prioritize their choices in making a final decision on their holiday destination and travel conditions, especially on how they consider the ‘all-inclusive’ travel mode. The authors use 1,065 observations from a visitor exit survey (in two waves: 2006 and 2012) to examine the determinants of prioritizing destination choice or travel mode in the holiday decision-making process. Estimating a multinomial model, they find that the decision structure of those individuals who prioritize destination is different from that of those who prioritize the travel mode. The paper also contributes to research on the intention to return to a destination related to the intention to repeat the same holiday formula. The authors distinguish between those tourists who prioritize destination choice and those who prioritize the travel mode. Through an estimated sequential model, they present the results of the revisiting patterns for these two groups.
The Impact of Tourism Development on Local Residents in Bama, Guangxi, China
Authors: Liu Yaping , Nie Linlin , Wang Fuqiang , Nies Zhulan
Published: December 2015

Researchers have studied both the positive and negative impacts of tourism. Bama, one of the world's top five ‘longevity’ villages, has enjoyed a rapid increase in tourism visits and income in recent years. However, current developments are accompanied by various environmental and social issues that threaten the local community. Though most indigenous people in Bama earn more than before, they are seldom involved in the distribution of fair benefits and the decision-making processes affecting the village. Based on three surveys conducted in 2009, 2011 and 2013, this paper examines changes in the perception of tourism's impact and the supportive attitude of the local residents. Suggestions are made for improving the development of tourism in Bama.
Are Regional Political Decisions the Key Element in Reducing Seasonal Variation in Tourism? The Case of the Balearic Islands
Authors: Sastre María Antonia García , Hormaeche Margarita Alemany , Villar Miguel Trías
Published: December 2015

As a mature tourism destination, the Balearic Islands suffer the normal effects of the stagnation stage of the tourism area life cycle (TALC) model. During stagnation, reorientation policies are used in an attempt to mitigate some of those effects in order to reduce the prevalence of seasonality. Various planning instruments have been designed and implemented by successive local governments, a key priority being the attempt to find a strategic answer to reducing this phenomenon. Based on the analysis of successive marketing plans of the Autonomous Region of the Balearic Islands, and using the Gini index to measure seasonality, this study explores the link between the two and demonstrates that regional political policies adopted over the last 20 years have not reduced seasonal variation in tourism. The demand remains at the same levels of seasonality as in the 1990s, suggesting the ineffectiveness of the policies implemented.
Operating Segments (IFRS 8)-Required Disclosure and the Specific-Characteristics of Kuwaiti Listed Companies
Authors: Alanezi Faisal S. , Alfraih Mishari M. , Alshammari Saad S.
Published: December 2015

The aim of this article is to assess and examine the operating segment required-disclosure of companies listed on the Kuwait Stock Exchange (KSE) and the influence of certain variables that determine their extent of operating segment disclosures. Similar to the previous studies, the degree of operating segment disclosure is tested based on a disclosure index of the compulsory items of the International Financial Reporting Standard (IFRS) 8 (Operating segment). A regression model is estimated using Ordinary Least Squares analysis for a sample of 150 Kuwaiti companies listed on the KSE at the end of 2013 to examine the relationship between the degree of operating segment disclosure and the specific characteristics of Kuwaiti listed companies. The results reveal that the average level of operating segment disclosure was 54%, ranging from 3% to 95%. The results revealed that Kuwaiti listed companies with a higher level of compliance with the IFRS 8-required disclosures (Operating segment)  were expected to be larger, highly growth and audited by audit firm associated with a Big-4 audit firm. In contrast with the more compliant, Kuwaiti listed companies with a lesser level of compliance with the IFRS 8-required operating segment disclosure were likely to be profitable. In contrast, company age, ownership diffusion, leverage and type of industry, were found to be not influencing the compliance with the IFRS 8-required operating segment disclosure. The findings deliver valuable insights and assistance to the regulatory and enforcement official bodies and to the investors in Kuwait on evaluating the existing operating segment disclosure practice among KSE-listed companies. Since the average level of operating segment disclosure was 54%, this result recommends reviewing the monitoring system of the enforcement of required operating segment disclosure. Additionally, the results provide feedback about the drivers of operating segment disclosures practice.
Frequency Domain Causality Analysis of Interactions between Financial Markets of Turkey
Authors: Ozer Mustafa , Kamisli Melik
Published: December 2015

In this paper, we examined the dynamic linkages between financial markets of Turkey by using frequency domain causality analysis, proposed by Breitung and Candelon (2006), for the weekly Turkish data from 2003 to 2015. The results show that there are volatility spillovers from stock market returns to interest rate and EURO both in the mid and long terms, and short and medium-terms to U.S. Dollar; but, from U.S. Dollar to stock market returns in the short-term. In the long-run, EURO exchange rate Granger cause to interest rate; but, interest rate Granger cause to EURO exchange rate in the short-run. On the other hand, there is no evidence of volatility spillovers from EURO and interest rate to stock market returns. Based on these results, we can conclude that there are certain degree of interdependence and volatility spillovers among the financial markets of Turkey, which have serious policy implications.
Bilateral Trade between the Eurozone and China: A Zero-Sum Game Theory Approach
Authors: Strakoshia Eneias , Petrakos George
Published: December 2015

 

Over the last decade, the whopping growth of the Chinese economy, due to the liberalization of its market, with regard to the vulnerable Eurozone’s economic activity, has led to trade disputes between the two economies. In order to best capture and describe these implications, we attempt to approach their moves and payoffs through a combination of strategic and analytical tools such as zero-sum games and multiple regression models. Data and metadata for both economies were obtained from official sources, mainly the Eurostat and the National Bureau of Statistics of China and used as input in the regression model. Subsequently, the model output was used as input in the zero-sum game. The results of this process pointed out the best strategies that the players should follow in order to avoid great losses.
An Empirical Evaluation of Accounting Graduates’ Employability Skills from Jordanian Employers’ Perspective
Authors: Altrawneh Ghada Awad
Published: December 2015

In the specific case of accounting, compatibility is being sought between what accounting education provides, what accounting graduates possess and what the job market requires. Thus, from the employers’ point of view, this study will attempt to investigate the skills that accounting students have and the skills required by the labour market, and which will enhance the employability of graduates. The perception of employers of how important those skills are to the job market will be explored, as well as whether the importance of the required skills varies depending on type of sector, organisation and job position, all in the context of Jordan. In general, this study is intended to bridge the gap to the benefit of academia, professionals and students.

The objective of the study has been approached by developing a questionnaire that was distributed to all major Jordanian companies and organizations in both the private and public sectors. The study concludes that accounting graduates lack, in particular, the necessary (generic) skills, and that there is a significant gap between the skills employers need and consider important, and the skills accounting graduates actually possess and can demonstrate in practice. The results show that employers tend to be more satisfied with the level of technical skills that students have acquired, than generic skills.
Competitive Strategies Applying in Cultural Museums through Tourism Industry: The Case of Taiwan Hualien
Authors: Lin Maw-Cherng
Published: December 2015

In the competition of leisure resources and reduction of governmental budgets over the years, the way in which cultural museums survive and develop is a critical issue. Using the Hualien Hakka Cultural Museum as an example, this study conducted a literature review and analysis, and held local forums, workshops and in-depth interviews using a bottom-up model and an interactive model, in order to collect opinions from industry, government and academia. Through SWOT analysis, TOWS matrix theory and Analytic Network Process (ANP), this study identified the effective Co-opetition Strategy of cultural museums as a reference for the future operation of local Hakka cultural museums.
Alternative Estimating Methodologies of the UK Industry Cost of Equity Capital: The Impact of 2007 Financial Crisis and Market Volatility
Authors: Koulafetis Panayiota
Published: December 2015

We compare estimates of the UK industry cost of equity capital between the unconditional beta Arbitrage Pricing Model (APM), the conditional beta APM and the Capital Asset Pricing Model (CAPM). A statistically significant eight-factor APM leads to the best estimates of the UK industry cost of equity capital. During our full sample time period any of the APMs, unconditional APM or conditional APM, do a much better job than the CAPM.
However at times of extreme market volatility during the 2007 financial crisis, the conditional APM is the best model with the least errors. During a financial crisis investors and market participants’ expectations are revised. Economic forces at play include: increased market uncertainty, increased investors’ risk aversion and capital scarcity. We find that the macroeconomic factors impeded in the Conditional APM that vary over time using the latest information in the market, incorporate the economic forces at play and capture the extreme market volatility. Our findings have direct implications in the financial markets for regulators, corporate financial decision makers, corporations and governments.
The Extent of the Obligation for the Jordanian Private Universities in the Requirements of Corporate Governance to Raise the Performance of the Financial Management: A Field Study
Authors: Al-Bawab Atef Aqeel
Published: December 2015

This study aimed to identify on the obligation extent of the Jordanian private universities in the requirements of corporate governance to raise the performance of financial management, The study population included the employees in the financial departments at that population, has been selected a simple random sample of the population, have been distributed the Questionnaires (79) and recalled (68) representing (86%).The study concluded that there is obligation in the requirements of corporate governance, related in shareholders rights, board of directors, financial reports which helps to raise the performance of the financial departments in the Jordanian private universities. The main recommendations were: It’s necessary to continue to comply with the requirements of corporate governance, and must be the members of the Board of Directors with experience and competence, to reflect that positively with financial departments in the Jordanian private universities. that vary over time using the latest information in the market, incorporate the economic forces at play and capture the extreme market volatility. Our findings have direct implications in the financial markets for regulators, corporate financial decision makers, corporations and governments.
The Effects of Corporate Income Tax on Corporate Capital Structure---Based on the Data of Listed Companies in China
Authors: Wenhong Li , Jiaqi Wu , Tianran Hu
Published: December 2015

In 2008, the domestic and foreign corporate income tax systems were unified in China. Based on data of the listed companies in China from 2006 to 2012 and the established model, we find that income tax rates significantly influence the capital structure of listed companies in China, and there is a positive correlation to the asset-liability ratio. When tax rate falls, the listed company will lower financial leverage, and the main method is through increasing its owners' equity, rather than to reduce debt.
Impact of Macroeconomic Variables on Stock Markets: Evidence from Emerging Markets
Authors: Barakat Mahmoud Ramadan , Elgazzar Sara H. , Hanafy Khaled M.
Published: December 2015

The key objective of this study is to shed light on the relationship between the stock market and macroeconomic factors in two emerging economies (Egypt and Tunisia) for the period from January 1998 to January 2014. Results indicated that there is a causal relationship in Egypt between market index and consumer price index (CPI), exchange rate, money supply, and interest rate. The same goes for Tunisia except for CPI, which had no causal relationship with the market index. Results also revealed that the four macroeconomic are co-integrated with the stock market in both countries.
Conceptual Model for Effective Board Composition in the Context of Emerging Markets
Authors: Almadi Madi
Published: December 2015

The impact of context has little or no consideration in the mainstream corporate governance literature. The purpose of this paper is to consider social, economic, and political elements of the emerging Saudi Arabian market when developing a multi-theoretical model about the relationship between board composition and financial performance. The paper attempts to conceptually inform the conversation about context with regard to board composition and firm financial performance in emerging markets. In particular, it discusses these theoretical feedback loops in conjunction with a proposed research agenda for the field. The paper proposes shifting the focus of corporate governance in emerging markets from relying on the predominant Western corporate governance theories to the alignment of those theories with considerations on emerging markets context. Such an approach involves significant implications for corporate governance theories and management practices. The paper describes the conditions in which certain formation of board of directors is composed in the Saudi Arabia may generate a competitive advantage. The consideration of emerging markets context can have implications for society as it may influence firms and governments to improve corporate governance standards and practices A literature gap in the corporate governance literature identified in this paper holds theoretical and practical implications. This research will enable comparative studies with other emerging markets, and will provide a conceptual benchmark for future corporate governance research.
Household Debt and the Rise of Financial Fragility in the Tunisian Context
Authors: Abid Lobna , Ouertani Med Nejib , Zouari-Ghorbel Sonia
Published: December 2015

This paper aims at studying the financial vulnerability of the Tunisian household and the extent to which indebtedness is associated with increased “financial fragility”, as measured by the household arrears’ sensitivity to macroeconomic shocks. In addition, the paper tries to examine whether financial fragility is actually affected by macroeconomic variables. These issues are investigated by applying panel data modeling and vector-error correction mechanisms for household arrears. Overall, the analysis shows the importance of macroeconomic data in determining the household’s financial fragility.
A Modified Markowitz Multi-Period Dynamic Portfolio Selection Model Based on the LDIW-PSO
Authors: Shao Shuai , Yang Li-qun , Zhang Yuan-biao , Meng Zhi-hui
Published: December 2015

Modern financial market is an extremely complicated nonlinear system, while gaming and speculation in the market makes the returns and risks of financial assets a great deal of uncertainty. How to construct an effective portfolio, realize the maximization of portfolio returns and the minimization of risks, and optimize the investment capital allocation efficiency are becoming increasingly a hot topic. This paper discusses a revised Markowitz Multi-period Dynamic portfolio mode by introducing LDIW-PSO in the process of solving the optimal investment weight. The LDIW-PSO has greatly improved the efficiency of searching the optimal weight of the portfolio. In addition, this paper introduces exponential-revised Sharpe ratio (Ex-Sharpe) as the objective function and adopts the optimal variance bound to reflect the real risk preferences of the investors in the financial markets better and modify covariance estimation errors of Mean-Variance model. The empirical study results show that the LDIW-PSO is very suitable for solving the dynamic portfolio model, and the exponential-revised Sharpe ratio can reflect financial market investment situation accurately and avoid covariance errors effectively.
Empirical Test of Single Factor and Multi-Factor Asset Pricing Models: Evidence from Non Financial Firms on the Ghana Stock Exchange (GSE)
Authors: Acheampong Prince , Swanzy Sydney Kwesi
Published: December 2015

This paper examines the explanatory power of a uni-factor asset pricing model (CAPM) against a multi-factor model (The Fama-French three factor model) in explaining excess portfolio returns on non-financial firms on the Ghana Stock Exchange (GSE). Data covering the period January 2002 to December 2011 were used. A six Size- Book-to-Market (BTM) ratio portfolios were formed and used for the analysis. The paper revealed that, a uni-factor model like the (CAPM) could not predict satisfactorily, the excess portfolio returns on the Ghana Stock Exchange. By using the multi-factor asset pricing model, that is, the Fama-French Three Factor Model, excess portfolio returns were better explained. It is then conclusive enough that, the multi-factor asset pricing model introduced by Fama and French (1992) was a better asset pricing model to explain excess portfolio returns on the Ghana Stock Exchange than the Capital Assets Pricing Model (CAPM) and that there exist the firm size and BTM effects on the Ghanaian Stock market.
From Diagnosis to Treatment of Muscular Dystrophy: Psychology Meets Medicine
Authors: Che Ismail Elna Herawati , Othman Nooraini
Published: December 2015

This paper will briefly discuss the condition of muscular dystrophy disease in Malaysia and will explore the potential of psychological approach in managing the muscular dystrophy patients in Malaysia. Muscular dystrophy is a hereditary and progressive degenerative disorder affecting skeletal muscles, and also often other organ systems. This term includes many conditions associated to the muscle wasting and weakness where all are still genetic but having different types due to different genes and differ in severity. It is estimated there are around 43 newborns are affected by muscular dystrophy each year in Malaysia. The real burden of muscular dystrophy in Malaysia is difficult to estimate, since the epidemiological data for each of muscular dystrophies and even for muscular dystrophies in collective are not available. There are not many researches focusing on muscular dystrophy in Malaysia. The few available researches related to muscular dystrophy in Malaysia are mostly revolving around the medical and genetic science aspects of it, not in the psychology and social sides of the disease.
Foreign Language Learning, Motivation and the Market Economy
Authors: Diamantatou Christina , Hawes Thomas
Published: December 2015

This study explores UK students’ motivation to study foreign languages, linking unrewarding past learning experiences with attrition rates and posing questions about the influence of official policy and socially structured conditions. 31 Further Education college students were given a questionnaire based on Gardner’s (1975) Attitude/Motivation Test Battery and this revealed that a high percentage even of motivated students withdrew voluntarily. We sent questionnaires to all those who had terminated their courses prematurely, leading to the finding that all respondents were in fact false-beginners, had already studied a foreign language at school, and now described the experience as unrewarding. This not only suggests that foreign language students face major challenges, but also that those variables related to the past emotional context around their studies may unfortunately trump positive motivation to learn. They may create negative expectations that finally extinguish this motivation itself.
Effect of geographic range discontinuity on taxonomic differentiation of Abies cilicica
Authors: Boratyńska Krystyna , Sękiewicz Katarzyna , Jasińska Anna Katarzyna , Tomaszewski Dominik , Iszkuło Grzegorz , Ok Tolga , Bou Dagher-Kharrat Magda , Boratyński Adam
Published: December 2015

Three populations of Abies cilicica subsp. isaurica and four of A. cilicica subsp. cilicica were analyzed using 35 morphological and anatomical needle characters with the implementation of multivariate statistical methods to verify the differences between subspecies. Moreover, the possible geographic differentiation of A. cilicica subsp. cilicica populations from the East Taurus and Lebanon Mountains was examined. Abies cilicica subsp. isaurica has been distinguished from A. cilicica subsp. cilicica by its glabrous young shoots and resinous buds. We detected that needles of A. cilicica subsp. isaurica are longer, broader and thicker, with a higher number of stomata rows, and larger cells of the epidermis, hypodermis and endodermis than A. cilicica subsp. cilicica. Additionally, A. cilicica subsp. isaurica needles have frequently rounded to obtuse-acute apex and resinous canals positioned more centrally inside the mesophyll than needles of A. cilicica subsp. cilicica. This indicates that a set of most of the tested needle characters can be used to distinguish the subspecies; however, any of characters enable that when used separately. Morphological and anatomical distinctiveness between these two taxa justify their recognition at the subspecies rank. Additionally, the populations of A. cilicica subsp. cilicica from the East Taurus and Lebanon are morphologically different. This geographic differentiation of populations is congruent with results provided by genetic analyses of nuclear microsatellites markers (nSSR).
First Polish records of Myxomycetes rare in Europe
Authors: Bochynek Anna
Published: December 2015

Seven species of Myxomycetes are reported from Poland for the first time. These are Arcyria virescens, Cribraria costata, C. elegans, C. languescens, C. mirabilis, C. pertenuis and Trichia flavicoma. They have very few localities in Europe and Cribraria pertenuis is known only from two sites worldwide. The species are described and illustrated with microphotographs, including first published micrographs of C. pertenuis. Localities are given and the taxonomy and ecology of each species are discussed.