End-to-End Observability in Enterprise Data Modernization: Unlocking Automation and Cost Savings

PurposeModular construction is an innovative method that enhances the performance of building construction projects. However, the performance of steel modular construction has not been systematically understood, and the existing measurement methods exhibit limitations in effectively addressing the features of steel modular building construction. Therefore, this study aims to develop a new performance measurement framework for systematically examining the performance of steel modular construction in building projects.Design/methodology/approachThis study was conducted through a mixed-method research design that combines a comprehensive review of the state-of-the-art practices of construction performance measurement and a case study with a 17-story steel modular apartment building project in Hong Kong. The case project was measured with data collected from the project teams and other reliable channels, and the measurement practices and findings were referenced to establish a systematic performance measurement framework for steel modular construction.FindingsConsidering steel modular construction as a complex socio-technical system, a systematic performance measurement framework was developed, which considers the features of steel modular construction, focuses on the construction stage, incorporates the views of various stakeholders, integrates generic and specific key performance indicators and provides a benchmarking process. Multifaceted benefits of adopting steel modular construction were demonstrated with case study, including improved economic efficiency (e.g. nearly 10% cost savings), improved environmental friendliness (e.g. approximately 90% waste reduction) and enhanced social welfare (e.g. over 60% delivery trips reduction).Originality/valueThis paper extends the existing performance measurement methods with a new framework proposed and offers experience for future steel modular construction. The measured performance of the case project also contributes in-depth understanding on steel modular construction with benefits demonstrated. The study is expected to accelerate an effective uptake of steel modular construction in building projects.

This review explores the role of regulatory frameworks in ensuring financial stability in Africa, focusing on a comparative analysis of the banking and insurance sectors. Regulatory frameworks are essential for maintaining the integrity, stability, and efficiency of financial systems. By examining the historical context, development, and current state of both sectors, this review identifies the key regulatory bodies and their respective strategies and objectives. The review highlights the effectiveness of these regulatory frameworks in mitigating risks and enhancing financial stability through case studies of specific African countries, including South Africa, Nigeria, and Kenya. In the banking sector, central banks and financial regulatory authorities enforce regulations aimed at maintaining capital adequacy, managing non-performing loans, and ensuring risk management and compliance. In contrast, the insurance sector's regulatory bodies focus on solvency requirements, risk assessment, and consumer protection. Also underscores the importance of coordination between regulatory bodies to address challenges such as regulatory arbitrage and technological advancements. The comparative review reveals that while both sectors have made significant strides in regulatory development, they face unique challenges and opportunities. The banking sector is grappling with issues of financial inclusion and digital transformation, whereas the insurance sector is striving to improve market penetration and literacy. The review also discusses the impact of regulatory interventions on financial stability, showcasing successful examples from selected countries. The findings suggest that robust regulatory frameworks are critical for fostering sustainable financial stability. Recommendations for enhancing regulatory effectiveness include strengthening coordination among regulatory bodies, enhancing capacity-building, and leveraging technology for better compliance. The review concludes with an outlook on emerging trends in financial regulation and the prospects for maintaining financial stability in Africa, emphasizing the need for continued international cooperation and support. Keywords: Regulatory Frameworks, Financial Stability, Africa, Banking sectors, Review.

As operationing budgets become more austere, military and commercial industries are reducing live training and becoming increasingly more reliant on modeling and simulation. hi turn, engineers are challenged to provide more sophisticated simulation fidelity for highly complex weapon systems prior to initial operational capability of the actual system, and within the very tight budgets traditionally afforded simulation-based trainers. Furthennore, the problem is exacerbated because life cycle budgets are being significantly constrained even though the parent system evolves through multiple changes and up-grades over its life cycle. and improved software reliability. Achievement of this goal will require fundamental changes in software development methodologies, CASE tool utilization, technical management strategies, and current DO11 acquisition practices. The objective of this paper is to foster the continued development of megaprogramming technologies through an interchange of lessons learned and technology challenges obtained thus far in the ongoing Navy research project designated STARS. The Navy STARS (Software Technology for Adaptable, Reliable Systems) effort is currently investigating software process improvement and reuse Currently, researchers hypothesize that the development of standardized, reusable simulation software assets could potentially effect significant flight simulation life-cycle cost and risk reductions. This hypothesis presupposes tlie availability of a well defined, repeatable, automated software process. The cost and risk reduction savings would be realized in the areas of development, verification and validation, hardwarelsoftware integration, documentation, configuration management, portability and support. A shift toward automated software reuse is creating new technological challenges for software engineering, particularly in the highly complex flight si~nulation community. Synthesis (developed by the Software Product Consortium under tlie Virginia Center of Excellence) is a candidate software engineering development process addressing software reuse through the use of well defined processes which can be implemented within an automated software engineering environment. 1Jnlike the classical single life-cycle acquisition model, the Synthesis two-life cycle approach, supports development of a software engine encompassing reusable assets, and a user interface which facilitates simulation model development, implen-mtation, documentation, verification and validation, portability and support. During the second life cycle, an application engineer utilizes the software engine to generate the specific software products needed for a trainer (instance) utilizing only the necessary software code required to support the given simulation. When combined with process automation, this product-line based, two life-cycle approach to software development is termed megaprogra~nmi~ig. The goal of lnegaprogranuning is cost saving *** Aerospace Engineer, AlAA Senior Member * * Aerospace Engineer * Electrical Engineer This paper is declared a work of the I1.S. Governlent and is not subject to copyright protection in the United States. techniques within the air vehicle training systems (AWS) domain. This paper addresses the difficulties experienced in defining standardized and reusable soflware assets within the A W S software domain. Discussion of technical lessons learned will include use of the Synthesis process and associated reuse techniques, including interplay with standards and guidelines. Additionally, lessons learned in the development and use of CASE tools required to facilitate software domain development and growth, reuse process automation, application generation and project management will also be addressed. Furthermore, a discussion addressing the requirement for, and difficulty in defining, estimating and measuring return on investment will be presented with examples drawn from the Navy STARS program. Recommendations on various reuse concepts best suited for the A W S domain will be provided.

Factors Effecting Systematic Risk in Isolation vs. Pooled Estimation: Empirical Evidence from Banking, Insurance, and Non-Financial Sectors of Pakistan

Corporate Internet Reporting of Banking Industry and LQ45 Firms: An Indonesia Example

The synergistic effect of insurance and banking sector activities on economic growth in Africa

efficient financial institutions and markets could increase economic growth, and mutually, the financial sector should also reflect the economic indicators changes in real sector. In this study, impact of the banking, insurance and financial intermediation sector with an emphasis on value-added of financial and monetary institutions services on the capital market is examined. For this purpose, “TEPIX” and “financial index” as capital markets representative indices (the dependent variable) and Bayesian ARDL (BARDL) method based on Doan, Litterman and Sims prior and Buss (2010) is used in period of 1991-2018. The results show that monetary and financial institutions services in the short term could affect stock price index (“TEPIX” and “financial index”), therefore The short-term relationship between the banking, insurance and financial intermediation sector of economy and the financial sector (Stock Exchange market) is established but the statistical significance of this relationship in the long run is not approved and no feedback in stock price indices based on the changes in the banking, insurance and financial intermediation sector is observed. These results on one hand indicate a significant impact of monetary variables and tools such as liquidity and price inflation on the stock market, and on the other hand is a sign of weakness in the relationship between the banking, insurance and financial intermediation sector and the stock market. Therefore, it is suggested that in critical situations (with short-term targets), monetary and price tools used to adjust stock market but in contrast, by correction of structural flaws of Stock Exchange market, the context of short term and long-term impact of the banking, insurance and financial intermediation sector on stock indices will be provided.efficient financial institutions and markets could increase economic growth, and mutually, the financial sector should also reflect the economic indicators changes in real sector. In this study, impact of the banking, insurance and financial intermediation sector with an emphasis on value-added of financial and monetary institutions services on the capital market is examined. For this purpose, “TEPIX” and “financial index” as capital markets representative indices (the dependent variable) and Bayesian ARDL (BARDL) method based on Doan, Litterman and Sims prior and Buss (2010) is used in period of 1991-2018. The results show that monetary and financial institutions services in the short term could affect stock price index (“TEPIX” and “financial index”), therefore The short-term relationship between the banking, insurance and financial intermediation sector of economy and the financial sector (Stock Exchange market) is established but the statistical significance of this relationship in the long run is not approved and no feedback in stock price indices based on the changes in the banking, insurance and financial intermediation sector is observed. These results on one hand indicate a significant impact of monetary variables and tools such as liquidity and price inflation on the stock market, and on the other hand is a sign of weakness in the relationship between the banking, insurance and financial intermediation sector and the stock market. Therefore, it is suggested that in critical situations (with short-term targets), monetary and price tools used to adjust stock market but in contrast, by correction of structural flaws of Stock Exchange market, the context of short term and long-term impact of the banking, insurance and financial intermediation sector on stock indices will be provided.

Purpose In an attempt to enrich the literature of the efficiency of financial services sector with holistic perspective, this study aims to empirically investigate the input efficiency of banking and insurance sectors with further probe into Islamic segments of these sectors in Pakistan.Design/methodology/approach This study measures the technical, allocative, cost, and scale efficiencies of banking and insurance firms in our sample using the non-parametric frontier method, data envelopment analysis (DEA).Findings The findings show that, on average, the allocative efficiency of the overall Islamic financial services sector has increased during the period of study and has also remained well above their conventional counterparts. The study also revealed that, insurance sector is more technically efficient than banking sector. Finally, the study also found that overall efficiency of financial sector can also be improved by exchanging experts between two sectors.Originality/value The results of this research study provide empirical findings as to how two segments of Financial Services Sectors had fared in the competitive environment from 2007 to 2015.

ABSTRACTThis study employs the Lasso–Granger algorithm, in combination with sliding window technology, to construct a dynamic directed complex network that captures the dynamics of systemic risk transmission between the financial industry and the real economy. By analysing the network's characteristic indicators among the banking, securities, and insurance sectors, we explore variations in systemic risk transmission across these three major financial sectors and the real economy. Additionally, the CONCOR algorithm is used to detect community structures within the complex network, enabling a dynamic assessment of these communities' attributes over time. The empirical results show that the ability of the insurance, banking, and securities sectors to receive systemic risk weakens progressively. The insurance sector has the strongest capacity to transmit systemic risk, whereas the banking sector has the weakest capacity to transmit systemic risk. The banking and insurance sectors exhibit similar role attributes in the process of systemic risk transmission. The risk transmission relationship between the real economy and the financial industry shows heterogeneity.

Systemic risk spillover of financial institutions in China: A copula-DCC-GARCH approach

The primary motives for mergers for financial consolidation are cost savings and revenue enhancement. Cost savings are attributable to economies of scale, economies of scope and more efficient allocation of resources. Consolidation can lead to increased revenues through its effect on firm size, firm scope or market power. Mergers and acquisitions in the banking sector are basically meant to reap the benefits of economies of scale. Mergers also aim for growth in size.

In the fast-paced and competitive landscape of the banking sector, achieving organizational goals is a critical imperative for sustainable growth and success. The efficacy of team collaboration has emerged as a decisive factor in driving progress and accomplishing objectives within banking institutions. This research paper is on the role played by effective team collaboration in facilitating goal achievement and enhancing overall performance in the banking sector. The success of team collaboration in the context of achieving organizational goals, including leadership styles, Communication practices, team composition, and the alignment of individual and team objectives with organizational targets. The findings underscore the significance of cohesive and high-performing teams in the banking sector, where teamwork leads to enhanced customer service, streamlined processes, and improved financial performance. Effective leadership is identified as a key driver, providing clear vision and direction, motivating team members, and fostering a culture of collaboration. Open and transparent communication is recognized as a fundamental element in facilitating knowledge-sharing, problem-solving, and decision-making among team members, promoting efficient operations and service delivery. Trust builds up within teams is identified as a crucial factor in the banking sector, enabling effective customer relationship. The study highlights the positive impact of diverse team composition, combining individuals with varied expertise, backgrounds, and perspectives, leading to creative problem-solving and adaptability in response to dynamic market conditions. Furthermore, the research explores the impact of technology on team collaboration within the banking sector, emphasizing the role of digital tools, collaborative platforms, and virtual teamwork in overcoming geographical barriers and enhancing communication efficiency. The paper concludes with recommendations for banking institutions seeking to foster effective team collaboration to achieve organizational goals. Strategies include leadership development programs, communication training, team-building activities, and performance measurement frameworks tailored to encourage and reward collaborative efforts. This study aims to fill a critical knowledge gap by examining the vital connection between effective team collaboration and achieving organizational goals in the banking sector. By investigating the mechanisms, benefits, challenges, and leadership aspects of collaboration, the study will contribute to informed decision-making and best practices in the dynamic landscape of banking. Overall, this research paper contributes to the existing body of knowledge by providing valuable insights into the pivotal role of team collaboration in driving goal achievement within the banking sector. By recognizing the multifaceted benefits of effective team collaboration and offering practical recommendations, this study aims to empower banking institutions to cultivate a collaborative culture that maximizes the potential of their workforce and propels them towards sustained success in the dynamic financial landscape.

The use of indicators characterizing the regional level of its functioning is relevant for monitoring the development of the financial market. The purpose of the article is to develop an approach to build a rating of Russian regions according their level of the financial market development. The authors’ methodology includes integral indicators calculating, which characterize the development of the financial market in terms of the territorial entities using the method of principal components. As a result, we have built a composite index, and on its basis a rating of Russian regions is compiled. The components of the composite index are subindexes, calculated using the method of principal components for each of the five market sectors: banking, insurance, microfinance, non-state pension funds and stock market. On the one hand, this approach allows to aggregate heterogeneous initial indicators of financial market sectors. On the other hand, it helps making a comparative analysis of regions in intersectoral terms. The research is based on the statistical data of Rosstat, the Bank of Russia and the Federal Tax Service for 2020–2022. The authors conclude that the constructed rating allows to track changes in the positions of the constituent entities of regions on the financial market and to detail the development areas of its specific sectors. For example, in 2022, the rating leaders were Moscow (1st place), Tyumen (2nd place) and Novosibirsk Oblasts (3rd place). In general, over 2020–2022, the Kamchatka Kray (banking sector), Chukotka Autonomous Okrug (banking sector), Kostroma Oblast (banking and stock sectors) significantly improved their position in the rating. Growth zones for the Tver Oblast are the insurance, microfinance and stock sectors, for the Bryansk and Volgograd Oblasts the insurance and microfinance sectors. The approach proposed by the authors allows expanding the composition of the index components, which characterizes a high potential of its application in solving the problems of the financial market assessment.

<p class="MsoNormal" style="line-height: 12pt; margin: 0in 36.1pt 0pt 0.5in; mso-line-height-rule: exactly;"><span style="font-family: "Times New Roman","serif"; font-size: 10pt;">The purpose of this paper is threefold: to explain why the Islamic financial system was introduced in Malaysia; to outline how the Malaysian government has promoted this system; and to analyze the development of the Islamic financial system with a specific focus on the banking sector. <span style="mso-spacerun: yes;"> </span>In Malaysia, the first Islamic bank, Bank Islam Malaysia Bhd., was established in 1983.<span style="mso-spacerun: yes;">  </span>One turning point of the Islamic financial system in the country was the Financial Sector Master Plan presented by the central bank in 2001.<span style="mso-spacerun: yes;">  </span>The government, in accordance with the plan, has taken a strong initiative in the development of an Islamic financial system.<span style="mso-spacerun: yes;">  </span>As a result, the country has succeeded in promoting a comprehensive Islamic financial system, banking and insurance sectors and capital markets.<span style="mso-spacerun: yes;">  </span>In the banking sector, this paper reveals that the profit-sharing system does not seem to be popular in this country although the reward system is central to Islamic Finance.<span style="mso-spacerun: yes;">  </span>In order for further development of the Islamic financial sector, the reasons why the percentage of contracts under the profit-sharing system is small need to be analyzed.<span style="mso-spacerun: yes;">  </span></span></p>

Blockchain technology has received much attention from academicians and industry practitioners because they perceive that it can contribute to the bottom line of corporations. Current literature shows a significant need for adopting blockchain technology in the finance and banking sector to bring digital disruption. The main objective of this chapter will be to identify the principles of blockchain technology and how it impacts the performance of the financial and banking sector. The secondary aims of this chapter will be to examine the challenges faced by the banking and insurance sector and analyse the characteristics of blockchain technology to suggest a model that collaborates with the other ecosystems to overcome those challenges. The chapter identifies models that have been suggested by other researchers and finally proposes a framework for the adoption of blockchain technology in the finance and banking sector.