Felicidad y globalización: un estudio en perspectiva global sobre el emprendimiento

The study is based on the conjecture that augmented happiness enhances the growth of entrepreneurship and happy nations have tendency to produce greater number of entrepreneurs. Apart from Happiness, this study also measures the effect of globalization on entrepreneurship. For this very purpose, happiness and globalization has been regressed with entrepreneurship. Desire Satisfaction theory has been used to explain the relationship of happiness, globalization and entrepreneurship. To verify stated assumptions, data from 125 countries from the world were tested. Data of Globalization Index (GI), Happiness Index (HI) and Global Entrepreneurship Index (GEI) were extracted from KOF Globalization Index 2017, World Happiness Report 2017 and Global Entrepreneurship index 2017 respectively. It was observed that countries with higher score in happiness and globalization also had higher score in GEI. The relationship is found to be highly significant and positive. It is suggested that countries who wish to promote entrepreneurial ventures should not focus only on conventional measures of growth like GDP but also focus for expansion through globalization and invest for the satisfaction and happiness of its people.El estudio se basa en la conjetura de que la felicidad aumentada mejora el crecimiento del espíritu empresarial y que las naciones felices tienden a producir un mayor número de empresarios. Además de la felicidad, este estudio también mide el efecto de la globalización en el emprendimiento. Para este mismo propósito, la felicidad y la globalización han retrocedido con el espíritu empresarial. La teoría de la satisfacción del deseo se ha utilizado para explicar la relación de felicidad, globalización y emprendimiento. Para verificar los supuestos establecidos, se probaron datos de 125 países del mundo. Los datos del Índice de globalización (IG), el Índice de felicidad (HI) y el Índice de emprendimiento global (GEI) se extrajeron del Índice de globalización KOF 2017, el Informe de felicidad mundial 2017 y el Índice de emprendimiento global 2017, respectivamente. Se observó que los países con puntaje más alto en felicidad y globalización también tenían puntaje más alto en GEI. Se encuentra que la relación es altamente significativa y positiva. Se sugiere que los países que deseen promover emprendimientos empresariales no se centren solo en medidas convencionales de crecimiento como el PIB, sino que también se enfoquen en la expansión a través de la globalización e inviertan para la satisfacción y la felicidad de su gente

Wind Farms and Flexible Loads Contribution in Automatic Generation Control: An Extensive Review and Simulation

With the increasing integration of wind energy sources into conventional power systems, the demand for reserve power has risen due to associated forecasting errors. Consequently, developing innovative operating strategies for automatic generation control (AGC) has become crucial. These strategies ensure a real-time balance between load and generation while minimizing the reliance on operating reserves from conventional power plant units. Wind farms exhibit a strong interest in participating in AGC operations, especially when AGC is organized into different regulation areas encompassing various generation units. Further, the integration of flexible loads, such as electric vehicles and thermostatically controlled loads, is considered indispensable in modern power systems, which can have the capability to offer ancillary services to the grid through the AGC systems. This study initially presents the fundamental concepts of wind power plants and flexible load units, highlighting their significant contribution to load frequency control (LFC) as an important aspect of AGC. Subsequently, a real-time dynamic dispatch strategy for the AGC model is proposed, integrating reserve power from wind farms and flexible load units. For simulations, a future Pakistan power system model is developed using Dig SILENT Power Factory software (2020 SP3), and the obtained results are presented. The results demonstrate that wind farms and flexible loads can effectively contribute to power-balancing operations. However, given its cost-effectiveness, wind power should be operated at maximum capacity and only be utilized when there is a need to reduce power generation. Additionally, integrating reserves from these sources ensures power system security, reduces dependence on conventional sources, and enhances economic efficiency

Financial Stability: The Significance and Distinctiveness of Islamic Banking in Malaysia

This paper explores the significance of Islamic banking in Malaysia for stability in the country's economy as a whole. Neither conventional theory nor Islamic economics puts forward a systematic explanation of financial intermediation; consequently, neither is capable of identifying destabilizing elements in the system. Instead, a flow- of-funds approach similar to Minsky's own is applied to the (post-) modern consumption-led) business cycle and financial (and asset) market. Malaysia's structural current account surplus contributes to the overcapitalization of domestic firms. This in turn finances a financial (as opposed to an industrial), consumptionled (instead of investment-led) business cycle, where banking favors destabilizing asset price inflation. Islamic banks operating interdependently with conventional ones contribute to economic destabilization channeling surplus funds from the corporate to the household sector

Predicting corporate bankruptcy: where we stand?

PurposeThe incidence of important bankruptcy cases has led to a growing interest in corporate bankruptcy prediction models since the 1960s. Several past reviews of this literature are now either out‐of‐date or too narrowly focused. They do not provide a complete comparison of the many different approaches towards bankruptcy prediction and have also failed to provide a solution to the problem of model choice in empirical application. Seeks to address this issue.Design/methodology/approachThrough an extensive literature review, this study provides a comprehensive analysis of the methodologies and empirical findings from these models in their applications across ten different countries.FindingsThe predictive accuracies of different models seem to be generally comparable, although artificially intelligent expert system models perform marginally better than statistical and theoretical models. Individually, the use of multiple discriminant analysis (MDA) and logit models dominates the research. Given that financial ratios have been dominant in most research to date, it may be worthwhile increasing the variety of explanatory variables to include corporate governance structures and management practices while developing the research model. Similarly, evidence from past research suggests that small sample size, in such studies, should not impede future research but it may lead researchers away from methodologies where large samples are critically necessary.Originality/valueIt is hoped that this study will be the most comprehensive to‐date review of the literature in the field. The study also provides a unique ranking system, the first ever of its kind, to solve the problem of model choice in empirical application of bankruptcy prediction models.</jats:sec

Predicting Corporate Bankruptcy: Whither Do We Stand?

Following triggered corporate bankruptcies, an increasing number of prediction models have emerged since 1960s. This study provides a critical analysis of methodologies and empirical findings of applications of these models across 10 different countries. The study’s empirical exercise finds that predictive accuracies of different corporate bankruptcy prediction models are, generally, comparable. Artificially Intelligent Expert System (AIES) models perform marginally better than statistical and theoretical models. Overall, use of Multiple Discriminant Analysis (MDA) dominates the research followed by logit models. Study deduces useful observations and recommendations for future research in this field

Effects of Wet Separated and High Speed Milling Fly Ash Added in High Volume to Cementitious Materials

In this research high speed milling was carried out on particles of brown coal raw fly ash, on second layer, and on third layer particles obtained from wet separation of brown coal raw fly ash. Due to milling process, median particle size d(50) of raw fly ash, second layer, and third layer reduced by 46 %, 23 %, and 77 %, densities reduced by 11 %, 17 %, and 8 % respectively. Due to milling process, formation of agglomerations was observed, the standard deviation of the chemical composition of each element from the mean value reduced. After milling, high volume cementitious paste mixes were prepared with 60 % cement replacement. Due to the milling process the increase in compressive strength at 28 and 90 days was observed for raw fly ash is 59 % and 16 %, for second layer is 12 % and 15 %, for third layer and milled third layer is 78 % and 75 %. Flexural strength testing showed that due to the milling process the deflections at maximum loads have reduced considerably leading to brittle behavior of milled cementitious specimens. The testing for Mercury Intrusion Porosimetry showed that the cementitious specimens of third layer have maximum concentration of large capillary pores between 0.05 and 10 mu m, whereas, all others have maximum concentration of medium capillary pores between 0.01 and 0.05 mu m. Autogenous shrinkage of cementitious specimens was measured for first sixteen hours after mixing which showed that the second layer particles have the least shrinkage as compared to all other specimens