The impact of Islamic banking on the cost efficiency and productivity change of Malaysian commercial banks

This study employs Stochastic Frontier Analysis (SFA) to analyse Malaysian commercial banks during 1996–2002, and particularly focuses on determining the impact of Islamic banking on performance. We derive both net and gross efficiency estimates, thereby demonstrating that differences in operating characteristics explain much of the difference in costs between Malaysian banks. We also decompose productivity change into efficiency, technical, and scale change using a generalized Malmquist productivity index. On average, Malaysian banks experience moderate scale economies and annual productivity change of 2.68%, with the latter driven primarily by Technical Change (TC), which has declined over time. Our gross efficiency estimates suggest that Islamic banking is associated with higher input requirements. However, our productivity estimates indicate that full-fledged Islamic banks have overcome some of these cost disadvantages with rapid TC, although this is not the case for conventional banks operating Islamic windows. Merged banks are found to have higher input usage and lower productivity change, suggesting that bank mergers have not contributed positively to bank performance. Finally, our results suggest that while the East Asian financial crisis had a short-term costreducing effect in 1998, the crisis triggered a long-lasting negative impact by increasing the volume of nonperforming loans.

The efficiency and productivity of Malaysian banks:an output distance function approach

This study employs stochastic frontier analysis to analyze Malaysian commercial banks during 1996-2002, and particularly focuses on determining the impact of Islamic banking on performance. We derive both net and gross efficiency estimates, thereby demonstrating that differences in operating characteristics explain much of the difference in outputs between Malaysian banks. We also decompose productivity change into efficiency, technical, and scale change using a generalised Malmquist productivity index. On average, Malaysian banks experience mild decreasing return to scale and annual productivity change of 2.37 percent, with the latter driven primarily by technical change, which has declined over time. Our gross efficiency estimates suggest that Islamic banking is associated with higher input requirements. In addition, our productivity estimates indicate that the potential for full-fledged Islamic banks and conventional banks with Islamic banking operations to overcome the output disadvantages associated with Islamic banking are relatively limited. Merged banks are found to have higher input usage and lower productivity change, suggesting that bank mergers have not contributed positively to bank performance. Finally, our results suggest that while the East Asian financial crisis had an interim output-increasing effect in 1998, the crisis prompted a continuing negative impact on the output performance by increasing the volume of non-performing loans.

Efficiency in Islamic and conventional banking:an international comparison

The paper investigates the efficiency of a sample of Islamic and conventional banks in 10 countries that operate Islamic banking for the period 1996 to 2002, using an output distance function approach. We obtain measures of efficiency after allowing for environmental influences such as country macroeconomic conditions, accessibility of banking services and bank type. While these factors are assumed to directly influence the shape of the technology, we assume that country dummies directly influence technical inefficiency. The parameter estimates highlight that during the sample period, Islamic banking appear to be associated with higher input usage. Furthermore, by allowing for international differences in the underlying inefficiency distributions, we are also able to demonstrate statistically significant differences in efficiency across countries even after controlling for specific environmental characteristics and Islamic banking. Thus, for example, our results suggest that Sudan and Yemen have relatively higher inefficiency while Iran and Malaysia have lower estimated inefficiency. Except for Sudan, where banks exhibits relatively strong returns to scale, most sample banks exhibit very slight returns to scale, although Islamic banks are found to have moderately higher returns to scale than conventional banks. However while this suggests that Islamic banks may benefit from increased scale, we would emphasize that our results suggest that identifying and overcoming the factors that cause Islamic banks to have relatively high input requirements will be the key challenge for Islamic banking in the coming decades.

Automatically Extracting Procedural Knowledge from Instructional Texts using Natural Language Processing

Procedural knowledge is the knowledge required to perform certain tasks, and forms an important part of expertise. A major source of procedural knowledge is natural language instructions. While these readable instructions have been useful learning resources for human, they are not interpretable by machines. Automatically acquiring procedural knowledge in machine interpretable formats from instructions has become an increasingly popular research topic due to their potential applications in process automation. However, it has been insufficiently addressed. This paper presents an approach and an implemented system to assist users to automatically acquire procedural knowledge in structured forms from instructions. We introduce a generic semantic representation of procedures for analysing instructions, using which natural language techniques are applied to automatically extract structured procedures from instructions. The method is evaluated in three domains to justify the generality of the proposed semantic representation as well as the effectiveness of the implemented automatic system.

A qualitative case study of teacher perceptions and concerns during the implementation of literacy folders in a select elementary school in Broward County, Florida

Classroom teachers are often required to implement new procedures or practices in response to local or federal education mandates. Attempts to implement innovations, often do not take into account the personal side of change; the perceptions, concerns and needs of those required to implement the innovation. One innovation that was required by the School Board of Broward County, Florida for all elementary classroom teachers was the implementation of Literacy Folders. ^ This study attempted to address the personal side of change by identifying teacher concerns during the implementation of Literacy Folders in a select elementary school in Broward County Florida. The Concerns Based Adoption model (CBAM) for change was used as the conceptual framework for this qualitative case study. ^ Sources of data for this study included participant interviews, observations and analysis of documents. Informal conversations with the participants and unscheduled classroom visits were also sources of data. Seven classroom teachers were interviewed using a predesigned interview guide developed based on the CBAM of change, specifically the Stages of Concern Dimension. Participant responses were coded into two categories, (a) recollections of past perceptions, and (b) present perceptions regarding the innovation. ^ Data analysis resulted in the emergence of one major theme and two subordinate themes. The themes were related to time and purpose of the innovation. The researcher also discovered that the participants exhibited responses typically representative of the CBAM for individuals who are in the process of adjusting to a new innovation. ^ Recommendations based on participant concerns are made for improving the implementation of the innovation. Recommendations for alternatives to the innovation and suggestions regarding areas for further research in the field of educational change are also made. ^

Progettazione e realizzazione di un prototipo di stazione per il monitoraggio ambientale

La tesi analizza la problematica del monitoraggio ambientale a basso costo, cercando di approfondirne le caratteristiche e studiando le situazioni in cui questo vi si adatta bene. Lo studio ha permesso di realizzare due tipologie di stazioni di raccolta dati, una dedicata alla misurazione delle polveri sottili, e una dedicata alla misurazione dell’acidità delle piogge. Entrambe le stazioni condividono la logica di funzionamento, quindi il “core” rimane lo stesso pur lavorando con dati estremamente diversi, mentre si distinguono per i due sensori utilizzati. In fase di test i sensori si sono dimostrati sufficientemente precisi lasciando ben sperare per la realizzazione di applicazioni in contesti reali simili a quelli considerati durante l’analisi. Le stazioni sono in grado di fornire dati geo-localizzati consultabili attraverso un portale web, è possibile visualizzare ogni stazione su una mappa ricevendo aggiornamenti sulle ultime misurazioni, inoltre si possono modellare i dati e visualizzarli su una serie di grafici. Una delle caratteristiche fondamentali che ha guidato tutta la progettazione è stata l’estendibilità del modello, la logica di funzionamento della stazione può essere facilmente implementata su tecnologie hardware e software diverse.

Resolving taxonomic uncertainty in vulnerable elasmobranchs: are the Madeira skate (Raja maderensis) and the thornback ray (Raja clavata) distinct species?

Skates and rays constitute the most speciose group of chondrichthyan fishes, yet are characterised by remarkable levels of morphological and ecological conservatism. They can be challenging to identify, which makes monitoring species compositions for fisheries management purposes problematic. Owing to their slow growth and low fecundity, skates are vulnerable to exploitation and species exhibiting endemism or limited ranges are considered to be the most at risk. The Madeira skate Raja maderensis is endemic and classified as ‘Data Deficient’ by the IUCN, yet its taxonomic distinctiveness from the morphologically similar and more wide-ranging thornback ray Raja clavata is unresolved. This study evaluated the sequence divergence of both the variable control region and cytochrome oxidase I ‘DNA barcode’ gene of the mitochondrial genome to elucidate the genetic differentiation of specimens identified as R. maderensis and R. clavata collected across much of their geographic ranges. Genetic evidence was insufficient to support the different species designations. However regardless of putative species identification, individuals occupying waters around the Azores and North African Seamounts represent an evolutionarily significant unit worthy of special consideration for conservation management.

Resolving taxonomic uncertainty in vulnerable elasmobranchs: are the Madeira skate (Raja maderensis) and the thornback ray (Raja clavata) distinct species?

Skates and rays constitute the most speciose group of chondrichthyan fishes, yet are characterised by remarkable levels of morphological and ecological conservatism. They can be challenging to identify, which makes monitoring species compositions for fisheries management purposes problematic. Owing to their slow growth and low fecundity, skates are vulnerable to exploitation and species exhibiting endemism or limited ranges are considered to be the most at risk. The Madeira skate Raja maderensis is endemic and classified as ‘Data Deficient’ by the IUCN, yet its taxonomic distinctiveness from the morphologically similar and more wide-ranging thornback ray Raja clavata is unresolved. This study evaluated the sequence divergence of both the variable control region and cytochrome oxidase I ‘DNA barcode’ gene of the mitochondrial genome to elucidate the genetic differentiation of specimens identified as R. maderensis and R. clavata collected across much of their geographic ranges. Genetic evidence was insufficient to support the different species designations. However regardless of putative species identification, individuals occupying waters around the Azores and North African Seamounts represent an evolutionarily significant unit worthy of special consideration for conservation management.

El dinero fuente de pecados en el Inferno de Dante y en la traducción de Pedro Fernández de Villegas (Burgos, 1515)

El trabajo se centra en el análisis de los pecados relacionados con el dinero en el Inferno de Dante y en la primera traducción castellana de la primera cantiga de la Commedia, obra del arcediano de Burgos Pedro Fernández de Villegas. La traducción, compuesta en coplas de arte mayor y acompañada de un enciclopédico comentario, se publicó en 1515. Particular atención se dedica a la reflexión sobre el problema del mal uso del dinero que Villegas desarrolla en la glosa de los cantos en que con más vigor se levanta la voz de Dante para denunciar la gravedad del pecado de la sed de riquezas. Se analiza la postura del traductor español ante el tema comparándola no sólo con la de Dante sino también con la de Cristoforo Landino, autor del Comento sopra la Comedia, obra exégetica que se publicó por primera vez en Florencia en 1481 y que representó el punto de referencia privilegiado de Villegas.

PEDOT:PSS thin films: Applications in Bioelectronics

Owing to their capability of merging the properties of metals and conventional polymers, Conducting Polymers (CPs) are a unique class of carbon-based materials capable of conducting electrical current. A conjugated backbone is the hallmark of CPs, which can readily undergo reversible doping to different extents, thus achieving a wide range of electrical conductivities, while maintaining mechanical flexibility, transparency and high thermal stability. Thanks to these inherent versatility and attracting properties, from their discovery CPs have experienced incessant widespread in a great plethora of research fields, ranging from energy storage to healthcare, also encouraging the spring and growth of new scientific areas with highly innovative content. Nowadays, Bioelectronics stands out as one of the most promising research fields, dealing with the mutual interplay between biology and electronics. Among CPs, the polyelectrolyte complex poly (3,4-ethylenedioxythiophene): poly (styrenesulfonate) (PEDOT:PSS), especially in the form of thin films, has been emphasized as ideal platform for bioelectronic applications. Indeed, in the last two decades PEDOT:PSS has played a key role in the sensing of bioanalytes and living cells interfacing and monitoring. In the present work, development and characterization of two kinds of PEDOT:PSS-based devices for applications in Bioelectronics are discussed in detail. In particular, a low-cost amperometric sensor for the selective detection of Dopamine in a ternary mixture was optimized, taking advantage of the electrocatalytic and antifouling properties that render PEDOT:PSS thin films appealing tools for electrochemical sensing of bioanalytes. Moreover, the potentialities of this material to interact with live cells were explored through the fabrication of a microfluidic trapping device for electrical monitoring of 3D spheroids using an impedance-based approach.

Simulação numérica da convecção mista em cavidade preenchida com meio poroso heterogêneo e homogêneo

In this work is presented mixed convection heat transfer inside a lid-driven cavity heated from below and filled with heterogeneous and homogeneous porous medium. In the heterogeneous approach, the solid domain is represented by heat conductive equally spaced blocks; the fluid phase surrounds the blocks being limited by the cavity walls. The homogeneous or pore-continuum approach is characterized by the cavity porosity and permeability. Generalized mass, momentum and energy conservation equations are obtained in dimensionless form to represent both the continuum and the pore-continuum models. The numerical solution is obtained via the finite volume method. QUICK interpolation scheme is set for numerical treatment of the advection terms and SIMPLE algorithm is applied for pressure-velocity coupling. Aiming the laminar regime, the flow parameters are kept in the range of 102≤Re≤103 and 103≤Ra≤106 for both the heterogeneous and homogeneous approaches. In the tested configurations for the continuous model, 9, 16, 36, and 64 blocks are considered for each combination of Re and Ra being the microscopic porosity set as constant φ=0,64 . For the pore-continuum model the Darcy number (Da) is set according to the number of blocks in the heterogeneous cavity and the φ. Numerical results of the comparative study between the microscopic and macroscopic approaches are presented. As a result, average Nusselt number equations for the continuum and the pore continuum models as a function of Ra and Re are obtained.

Endoluminal calprotectin measurement in assessment of pouchitis and a new index of disease activity: a pilot study

Pouchitis is the most common complication following proctocolectomy with ileal pouch-anal anastomosis for ulcerative colitis (UC). To provide a standardized definition of pouchitis clinical, endoscopic and histological markers were grouped and weighted in the pouch disease activity index (PDAI). However, the delay in the assessment of the final score due to the time requested for histological analysis remains the main obstacle to the index implementation in clinical practice so that the use of modified-PDAI (mPDAI) with exclusion of histologic subscore has been proposed. We tested the ability of calprotectin measurement in the pouch endoluminal content to mimic the histologic score as defined in the PDAI, the index that we adopted as gold standard for pouchitis diagnosis. Calprotectin was measured by ELISA in the pouch endoluminal content collected during endoscopy in 40 consecutive patients with J-pouch. In each patient PDAI and mPDAI were calculated and 15% of patients were erroneously classified by mPDAI. ROC analysis of calprotectin values vs. acute histological subscore ≥ 3 identified different calprotectin cut-off values with corresponding sensitivity and specificity allowing the definition and scoring of different range of calprotectin subscores. We incorporated the calprotectin score in the mPDAI obtaining a new score that shows the same specificity as PDAI for diagnosis of pouchitis and higher sensitivity when compared with mPDAI. The use of the proposed new score, once validated in a larger series of patients, might be useful in the early management of patients with symptoms of pouchitis.

Ocorrência de plantas espontâneas em café solteiro ou consorciado com braquiária.

2015