Economic Collapse Research Articles

Virtual gown and town: The Athabasca University crisis and the conflict of institutional logics

AbstractThe objective of this paper is to contribute to our understanding of ‘crisis’ in higher education through the analysis of a unique series of events involving a decisive change in the relationship between a university and the state. A descriptive case study approach is used to investigate the crisis in governance at Athabasca University, an open university located in Alberta, Canada. Factors leading to the crisis included the university leadership's decision to move forward with plans to become a near‐virtual organization, concerns by local town that a loss of university employees in the region would be an economic catastrophe, and political opportunism on the part of the elected provincial leaders who decided to address the problems raised by the town and shift the mandate of the university. Drawing on institutional theory and the concept of institutional logics, the paper analyses the episodic nature of the crisis and explores both the nature of the conflict and its resolution.

Stability and integrity of self-assembled bovine parvovirus virus‑like particles (BPV‑VLPs) of VP2 and combination of VP1VP2 assisted by baculovirus-insect cell expression: a potential logistical platform for vaccine deployment

BackgroundBovine parvovirus (BPV) is an autonomous DNA virus with a smaller molecular size and subtle differences in its structural proteins, unlike other animal parvoviruses. More importantly, this virus has the potential to produce visible to silent economic catastrophes in the livestock business, despite receiving very little attention. Parvoviral virus-like particles (VLPs) as vaccines and as logistical platforms for vaccine deployment are well studied. However, no single experimental report on the role of VP1 in the assembly and stability of BPV-VLPs is available. Furthermore, the self-assembly, integrity and stability of the VLPs of recombinant BPV VP2 in comparison to VP1 VP2 Cap proteins using any expression method has not been studied previously. In this study, we experimentally evaluated the self-assembling ability with which BPV virus-like particles (VLPs) could be synthesized from a single structural protein (VP2) and by integrating both VP2 and VP1 amino acid sequences.MethodsIn silico and experimental cloning methods were carried out. His-tagged and without-His-tag VP2 and V1VP2-encoding amino acid sequences were cloned and inserted into pFastbacdual, and insect cell-generated recombinant protein was evaluated by SDS‒PAGE and western blot. Period of infectivity and expression level were determined by IFA. The integrity and stability of the BPV VLPs were evaluated by transmission electron microscopy. The secondary structure of the BPV VLPs from both VP2 and V1VP2 was analyzed by circular dichroism.ResultsOur findings show that VP2 alone was equally expressed and purified into detectable proteins, and the stability at different temperatures and pH values was not appreciably different between the two kinds of VLPs. Furthermore, BPV-VP2 VLPs were praised for their greater purity and integrity than BPV-VP1VP2 VLPs, as indicated by SDS‒PAGE. Therefore, our research demonstrates that the function of VP1 has no bearing on the stability or integrity of BPV-VLPs.ConclusionsIn summary, incredible physiochemically stable BPV VP2-derived VLPs have been found to be promising candidates for the development of multivalent vaccines and immunodiagnostic kits against enteric viruses and to carry heterogeneous epitopes for various economically important livestock diseases.

“This kind of life has no meaning”

Voice synthesising software Vocaloid (Yamaha Corporation) is a popular tool for professional and amateur music production. At the time of writing, there are over 770,000 videos tagged  ‘vocaloid’ on Niconico; karaoke chain Karatez displays the top five thousand tracks on its Website (Karatetsu); Hatsune Miku Wiki has over 59,000 pages, while the Vocaloid Lyrics Wiki has over 90,000. Vocaloid is part of Japan’s unique media mix, comprising of the software and music but also official collaborations and a significant amount of fan culture. However, while there is academic research on the way that Vocaloid music is produced and consumed (Sousa; Hamasaki et al.; Leavitt et al.; Kobayashi and Taguchi), there is a lack of research into the content of Vocaloid songs and music videos: that is, what kinds of themes and messages are present and what this might suggest for producers and consumers. This article highlights the importance of the content of Vocaloid music. To this end, I have focussed on Vocaloid composer/producer Neru’s 2018 album CYNICISM. Not to be confused with the Vocaloid Akita Neru, Neru’s music tends to focus on negative affect such as depression, loneliness, and anxiety. Documenting such themes helps to illustrate some of the struggles that producers and consumers experience. I provide a brief explanation of Vocaloid, followed by a reflection on their personas and functioning as a Body without Organs (Annett; Lam; Deleuze and Guattari, Anti-Oedipus). Then I introduce Small’s concept of musicking to provide a framework for the way that music transmits certain affects. In the second half of the article, I unpack Neru’s album and its use of imagery, lyrics, and sound. Vocaloids Voice synthesising software Vocaloid was initially released in 2004, the result of a collaboration between Japan’s Yamaha Corporation and Spain’s Pompeu Fabra University (Voctro Labs; Yamada 17). This software allows the user to create singing audio, drawing from recordings of real people called “voicebanks”. These voicebanks are produced by third-party companies, and are typically provided with a persona with an appearance and personality. For instance, the most well-known Vocaloid is Hatsune Miku, while Kagamine Rin and Kagamine Len are those most used by Neru. Essentially anyone who uses the Vocaloid software can become producers – the term used in Vocaloid cultures for composer. Vocaloid is an example of Japan’s “unique media mix”, where the media are produced not just by “the original company”, but also via “commercial collaborations with media franchises”, and “by a creative collective of individuals on the internet” (Leavitt et al. 204 & 211; see also Steinberg). As well as producers there are songwriters, lyricists, tuners, illustrators, and animators. Some people edit Vocaloid videos, creating compilations, ranking them, and so on (Hamasaki et al. 166). There is also a vibrant fan culture of database managers, fan translators, artists, and fiction writers, as well as human cover artists (utaite), such as Mafumafu, who became popular in part due to his covers of Neru’s music. Official corporate production mostly involves Hatsune Miku, and includes concerts, video games, and collaborations for consumer products. Such branding and collaboration illustrates the creation of a complex Vocaloid narrative. Accordingly, most researchers who examine Vocaloid discuss the complex relationships between various content creators and their methods of collaboration (Yamada), as well as Vocaloid as fan-generated media, examining issues such as commercial interest and exploitation (Bell; Sousa; Jørgensen et al.; To; Kobayashi and Taguchi). However, in this article I am interested in why fans strongly enjoy Vocaloid music and find meaning in it; as I will explore below, such fan collaboration is both a symptom and a cause. Personas and Bodies without Organs Although Vocaloid has a crowd-sourced and collaborative production environment, its use of digital voicebanks and significant consumer culture has led to criticism. For instance, Lam (1110–11) describes voicebanks as being “devoid of originality”, suggests that “all Vocaloid works are derivative”, and also that Vocaloid simply allows users “to indulge … within the virtual space of fabricated authenticity and depthlessness”. However, it is evident from comments on Niconico, YouTube, Reddit, the aforementioned Wikis, Vocaloid Discord servers, and any other space where fans socialise that listeners are emotionally moved by Vocaloid music. Zaborowski, for instance, describes two Japanese boys enthusiastically singing to ryo/Supercell’s Melt. Strikingly, Zaborowski (107) noted that the boys repeatedly told him that “precisely because the voice is the same, the listener can appreciate the quality of the melody and the lyrics”, and that a Vocaloid “sounds different when you are sad. Or when you are away from home”. Listeners are experiencing something when they engage with Vocaloid music, and it would be hasty to simply dismiss their experiences as “depthless”. One factor that makes Vocaloid music particularly authentic and affective for its audiences is the attachment of crowdsourced, constructed personas to Vocaloids. Authenticity here is not necessarily evaluated by the virtual nature of the artist (or instrument) itself, but the producers’ effort to create the work (Zaborowski 107). In this sense there is a need to consider the people involved in producing and listening to Vocaloid music, who find meaning in the songs and characters. Aside from Vocaloids, producers and utaite often also establish a character or imagery as a persona. Neru for instance is recognisable through his avatar—a closed eye with eyelashes and a single tear, and the various characters featured in his videos. The practice of creating a persona for non-human items is unique to Japanese culture, visible in the way that yuru kyara or “wobbly characters” are created to represent entities such as events, corporations, locations, policies, and so on (Occhi 77). These characters can be human-like or creature-like, drawing on Shinto’s anthropomorphism (Jensen and Blok 97). Kyara help minimise the separation between humans and nature, as well as humans and technology (Occhi 80–81). The attachment of kyara to voicebanks, which would otherwise have no face, helps to facilitate a sense of humanisation and connection with the software. It may be that the synthetic nature of the music as well as the use of personas in Vocaloid music means that the listener feels that the song is sung by the Vocaloid, but also processes the creator’s emotion. Kenmochi (4), for instance, suggests that since synthetic voices hold less emotion, it is the persona that functions as a symbol to connect the creator and listener. The producer is able to “impose their own values and perceptions on the virtual character” (Lam 1111), and in doing so, the persona functions as what Deleuze and Guattari call a Body without Organs (Anti-Oedipus 9; A Thousand Plateaus 151). That is, the persona has “no fixed identity” (Lam 1117), and can stratify or destratify, depending on what people do with it (Annett 172). They can become whatever the listener or creator wants, and so there is an emotional connection. Vocaloid music is meaningful to listeners, then, not despite its digital, virtual, constructed nature, but in fact because of what these elements facilitate.  Musicking Christopher Small’s work Musicking also provides a framework useful to consider the emotional impact of Vocaloid music. Small argues that “the fundamental nature and meaning of music lie not in objects … but in action”, and therefore proposes a definition of ‘musicking’; to “take part, in any capacity, in a musical performance” (8–9, emphasis omitted). Importantly, for Small (77) simply listening to a recording is to take part in music, and “we may be sure that somebody's values are being explored, affirmed, and celebrated in every musical performance”. Small’s comments here provide a framework for focussing on the experiences of the people involved in producing and listening to Vocaloid music, rather than getting caught up in negative beliefs around the digital nature of production. Further, reflecting on remix, a significant aspect of Vocaloid music, Small (214) notes that relationships are “open to reinterpretation over and over again as listeners create new contexts for their reception and their ritual use of it”. Further, Small (134) suggests that the act of musicking functions as a powerful “means of social definition and self-definition”. Small’s suggestions here that music can be recycled, reinterpreted, and used for self-definition aligns with many aspects of Vocaloid music; tracks are frequently covered by producers using other Vocaloids, or utaite; the meanings of lyrics are frequently discussed in comment sections of YouTube videos and Wikis, and fans often align themselves with certain Vocaloids or producers that they enjoy and relate to. Such self-definition is an important theme to keep in mind when I consider Neru’s CYNICISM album as it touches on societal issues such as loneliness, nihilism, and low self-esteem. CYNICISM Vocaloid producer Neru, also known as z’5 or Oshiire-P, is quite popular. At the time of writing, he has 124,000 followers on Japanese video-sharing site Niconico (Neru, "Neru"), 242,000 on Chinese video-sharing site BiliBili (Neru, "Neru_Official"), 388,000 monthly listeners on Spotify (Spotify), and 560,000 subscribers on YouTube (Neru, "Neru OFFICIAL"). He released his first Vocaloid song in 2009, and to date has three major albums. CYNICISM is the latest, released in 2018. The standard edition contains 14 tracks, and all aside from one use the Vocaloids Kagamine Rin or Kagamine Len. Fig. 1: CYNICISM standard edition, illustrated by Sudou Souta (Apple Music) Fig. 2: Tracklist All quotes from songs are my own translations from the original Japanese. The CYNICISM album communicates a strong sense of nihilism. Nihilism is an ambiguous concept (Nietzsche 76; Diken 6; Marmysz 61). However, Marmysz (71) summarises that nihilists have three claims: that humans are alienated from the world; that this should not be the case; and that “there is nothing we can do” about this situation. As explored below, Neru’s nihilism appears to align with Kant’s “existential nihilism (believing that life has no meaning)” (Gertz, ch. 2, emphasis omitted). It is worth noting that Neru’s music has some commonalities with other genres. For instance, Prinz (584–85) suggests that punk music is irreverent, challenging social norms, and is nihilistic, reflecting on themes such as “decay, despair, suicide, and societal collapse”. As explored below, CYNICISM projects feelings including disappointment with society, poor self-esteem, and themes of irreverence. Irreverence and Society The namesake of the album is important to note within the context of nihilism, as cynicism can be understood as “a passive nihilist affect” (Diken 61). Cynicism is the attitude that comes about when one has failed “to come to terms with loss”, “to realize that something has been lost”, or understand exactly what has been lost. It incited a state of melancholy, trapping the cynic, who suffers an “utterly debilitating sense of disappointment, the root cause of which it cannot identify or move beyond” (Allen, ch. 7). In numerous ways Neru exhibits a lack of faith in humanity and society. Just the title of the track What a Terrible Era communicates a sense of hopelessness, particularly the line “強いて言うとするなら人類は失敗作だった” (“if I had to say, humanity was a work of failure”). The album’s lyrics repeatedly refer to the negative state of the world; “本日の世界予報向上性低迷後退” (“today’s world forecast: Progress is stagnant and regressing”) (Hey, Rain). SNOBBISM asks “バグ塗れの人類のデバッグはいつ終わる” (“humanity is stained with bugs; when will debugging end?”). Neru repeatedly laments the state of humanity and his disappointment with the world. Further, cynicism is an attitude of scorn towards “sincerity and integrity”, which are viewed as “a cover for self-interest” (Allen, ch. 1). In line with this, reflecting the cynic’s embrace of untruthfulness (Gertz, ch. 3), in SNOBBISM Neru states “一生、ブラフを威すがいいさ” (“it’s okay to threaten to bluff through your entire life”). Further, Diken (59) suggests that “capitalism is the age of cynicism”, and the Law-Evading Rock (Neru OFFICIAL, "Law-Evading Rock") music video, illustrated and animated by Ryuusee, exhibits such a critique of capitalism. The video is quite chaotic, designed to appear as a Japanese TV channel. Meme-style characters are superimposed onto photographic backgrounds to depict absurd advertisements and news programmes with flashing and dancing, as the lyrics call for the viewer to escape from reality. The character in this video, Datsu, appears to enter a state of nirvana when Neru’s CD is inserted into him. Here we can see how personas are particularly affectual in Vocaloid music, with fans stating that they relate to Datsu, among other forms of affectation, in comments on his Wikia page (Neru Wikia). Further, CYNICISM frequently calls for the self-identified ‘losers’ to band together, breaking the norms of society. Whatever Whatever Whatever, with its upbeat tune, bright colours, and proclamation of “能天気STYLE” (“Carefree STYLE”) exhibits a strong sense that ‘nothing matters so do whatever’. Let’s Drop Dead’s “僕等はきっとあぶれ者” (“we are surely hooligans”), Law-Evading Rock’s “負け犬になって 吠えろ 吠えろ” (“become a loser, roar, roar”) indicate a sense of knowing that one is ‘useless’ but attempting to take pride in or band together in spite (or indeed, because of this). These lyrics ascribe to a nihilistic notion that nothing matters, but are also a call to arms in a sense – a call for losers to band together for strength, and to act with irreverence. Some encourage the listener to become someone unfit for society (Law-Evading Rock), or to turn back on and break away from morals that are designed to get one into heaven (March of Losers). The music video for SNOBBISM (Neru OFFICIAL, "SNOBBISM"), illustrated and animated by Ryuusee, features Bizu, a demon man wearing a formal suit and top hat. The video has a retro style and is bright but muted with blurry backgrounds, streaking, and graininess. Bizu appears to take on a retro rubber hose animation style, dancing and sometimes hitting objects while calling on the viewer to “make a scene”; to be irreverent and break the norms of society. Personal Failure CYNICISM also in numerous ways refers to personal failures and a lack of faith in the future. Some lyrics refer to a plan or manual (SNOBBISM, Song of Running Away), or a future being wrecked or torn (Spare Me My Inferiority, What a Terrible Era). Corresponding with the nihilistic tone of the album, Whatever Whatever Whatever describes being lazy today, and putting effort in tomorrow, while Let’s Drop Dead simply states “明日はくたばろうぜ” (“tomorrow let’s drop dead”). Yet continuing forward into the future seems mandatory, as in Whatever Whatever Whatever Neru describes himself as being too much of a wimp to commit suicide, and March of Losers repeats the refrain “進め進め” (“forward, forward”), calling for the losers to continue even though “this kind of life has no meaning”. Some tracks indicate a more raw or vulnerable state, with Nihil and the Sunken City’s “もっとちょーだい ちょーだい 承認をちょーだい” (“more, give it to me, give it to me, please give me approval”). Importantly, Neru identifies himself as a loser, engaging in self-irreverence, making fun of himself (Kroth 104), referring to himself and his social group as ‘losers’. The music videos for Whatever Whatever Whatever (Neru OFFICIAL, "Whatever Whatever Whatever") and Let’s Drop Dead (Neru OFFICIAL, "Let’s Drop Dead"), illustrated and animated by Terada Tera, exhibit self-irreverent themes. The former uses vapourwave aesthetics, and both exhibit bright colours, with cartoonish characters I and Yaya dancing and drinking alcohol. I wears a Space Invaders jacket and grill glasses, while Yaya wears a t-shirt featuring a marijuana leaf and a pink animal-eared beanie; together in the video they communicate a ‘slacker’, partying attitude. What is particularly interesting here is the way that nihilistic lyrics have been employed alongside upbeat, catchy, pop-style music and flashy colours. Such dissonance is attention-grabbing and also reflects a sarcastic, careless sense of cynicism, one that is “irreverent” and “playful” – a style that Nietzsche adopted (Allen, ch. 7). Relatedly, Marmysz (4) suggests that humour is a useful response to nihilism because it shatters expectations. It is important to understand CYNICISM within the Japanese context. Discussing the Meiji Period, Nishitani (175) points out that Buddhism and Confucianism lost their power, and that with modernisation Japan became Europeanised and Americanised to the extent that there is a spiritual void. More recently, various economic crises and disasters throughout the 1990s and 2000s have contributed to national trauma (Roquet 89). Due to significant societal pressure, many Japanese people feel anxiety, sensitivity, vulnerability, and alienation (Ren 29). Accordingly, much Japanese anime engages with feelings of nihilism (Lozano-Méndez and Loriguillo-López; Tsang). In some respects Vocaloid culture is interrelated with hikikomori, a form of social withdrawal associated with various psychological, social, and behavioural factors (Li and Wong 603). Much academic literature exists on hikikomori, which in many ways is a Japanese phenomenon, being influenced by “culture, society and history”, and having come about in Japan during a period of “very rapid socioeconomic changes” (Kato et al. 1062). Many Vocaloid producers and utaite identify as hikikomori, including Mafumafu. However, studies on hikikomori outside Japan have shown that feelings of isolation, anxiety, and social exclusion are a global concern (Krieg and Dickie 61; Kato et al. 1062), contributing to Neru’s popularity among English-speaking audiences Conclusion My goal in this article is to point out that a significant number of people find Vocaloid music relatable and affectual, and it would be hasty to dismiss such music as “depthless” due to its use of voicebanks and connection to consumer culture. Vocaloid music is particularly affective in part due to the way that Vocaloids, producers, and utaite make use of personas which function as bodies without organs: something that listeners are able to project their own feelings onto. Further, Small’s concept of musicking encourages us to pay attention to what producers are saying as well as what listeners and fans are engaging with: what values are being explored and how they are being used for self-definition. It is important to consider not just the economic aspects of participatory culture and the networks of production surrounding Vocaloid, but the content of the music and the meanings that listeners get out of it. Neru’s CYNICISM album is particularly interesting in this regard. The combination of upbeat music, bright and garish imagery, and nihilistic lyrics communicates a strong sense of disappointment with society and a lack of self-worth in a dissonant manner – there is a sense of playfulness that is attention-grabbing and uses humour to communicate these negative themes. Given the breadth of Vocaloid content that is produced, further research into other producers, fan groups, and pieces of media will provide insight into this varied and rich phenomenon.

Caught in crises: Syrian refugees in Türkiye’s labor market

Purpose This study aims to analyze the factors driving Syrian refugees into the informal labor market in Türkiye despite the existence of regulations and programs to facilitate their integration into the formal labor market. Design/methodology/approach This study presents results from a literature review of secondary sources and primary data collection through semi-structured interviews with key stakeholders and Syrian refugees. Findings The study shows that the implementation of policies and programs to boost formal employment among refugees has yielded limited results. Many refugees continue to operate within the informal economy. This informality is due to various socio-economic challenges, including anti-refugee sentiments, geographical restrictions and economic crises. The 2023 twin earthquakes have further exacerbated the vulnerable situation of refugees, intensifying the difficulty of achieving self-reliance. Research limitations/implications The study’s drawbacks include a small sample size. This implies that the sample is not representative; therefore, results may lack generalizability. Practical implications The study’s findings could stimulate greater engagement in public policy, facilitate the management of public perceptions regarding refugees and provide support to the private sector, all to enhance the integration of Syrian refugees into the formal labor market. Originality/value This study addresses crucial areas previously unexplored, including the impact of economic and natural disaster crises on the labor market integration of refugees. To the best of the author’s knowledge, by investigating these factors for the first time, this study offers novel insights into their influence on refugees’ labor market integration.

Insights into Gold Investing: Exploring Investor Behavior

A content analysis was conducted to examine factors influencing investor behavior when investing in gold and to look into possible reasons for selling gold. The results showed that investors' needs, return expectations, herding behavior, fear of financial collapse, higher appreciation rate, store of value, and liquidity all significantly impact gold investment decisions. The analysis also identified factors that may lead to selling gold in times of crisis, such as uncertainty caused by the Covid-19 pandemic, perception of gold as a safe haven during global financial instability, rise in the price of gold during crisis periods, its value as a hedging instrument, an essential investment source, protection against inflation, and also as a medium of exchange. An important motive for selling gold during these periods is to flee to safer assets. The research also revealed that although the demand for gold is usually higher in times of economic uncertainty and inflation, cash shortages do not significantly impact the decision to sell gold.

Accepting Timor Leste as an ASEAN member: an act of compassion or a geopolitical necessity?

Timor Leste has been accepted “in principle” as the 11th ASEAN country in 2022, after 11 years of waiting.  The 11-year delay is said to be due to skepticism from some Southeast Asian countries, which consider Timor-Leste an “uncertain situation”.  Many domestic issues, influenced by the international context, have added to this situation. These include concerns about the consolidation of democratic state institutions in Timor-Leste, as well as the prospects for its short-term economy and internal security. Existing solely on the decline of the Petroleum Fund, which is expected to disappear within a decade, the country risks falling into a budget abyss.  As the smallest economy in the entire Southeast Asia region, with the second lowest GDP per capita and high poverty and unemployment rates, Timor Leste has a long way to go to catch up with the remaining members of ASEAN.  Despite these economic shortcomings, ASEAN still decided to accept Timor Leste as a new member.  This article aims to explain Timor-Leste's credibility in meeting the political, economic and socio-cultural security criteria of the ASEAN pillars. It tries to explain why ASEAN accepted Timor-Leste. Using qualitative methods, the article shows that ASEAN member states have a real incentive to help Timor catch up with other members to avoid its economic collapse.  However, the growing geopolitical rivalry between China and the US in the region is perhaps the best explanation for ASEAN's eventual desire to accept Timor Leste's membership application.

Effects of treatment process on larvae growth performance and nutrient yield during cyanobacteria bioconversion by black soldier fly

Abstract Cyanobacteria blooms, a global environmental problem, have caused serious economic and ecological disasters worldwide. Black soldier fly larvae (BSFL) are known to feed and develop on a wide range of feed sources, which makes the use of BSFL bioconversion promising for harvested cyanobacteria. In this study, cyanobacteria were compounded into feedstock by three different treatments, and then BSFL was placed into the substrates to explore the effect of treatments on BSFL growth performance and nutrient yield. It was found that the alterations in the nutrient composition of the substrate and the content of key compounds (vitamin C and microcystin-LR) caused by different treatments were responsible for the different growth performance of BSFL. Difference in larvae digestive enzyme activities caused by changes in treatment processes and substrate moisture content will ultimately affect the BSFL nutrient production. The larvae stress response to different treatment processes demonstrated that the low moisture content environment has an inhibitory effect on the growth of BSFL, and the harvested cyanobacteria treated by the sun-drying treatment process exhibited less interference on BSFL. Through a brief economic assessment, we conclude that cyanobacteria can only produce benefits with the sun-drying treatment process where the substrate moisture content needs to be maintained at 70-80%, wall-breaking and heating treatment and heating treatment processes showed a deficit due to a higher cost and a lower output. This study provides a reference for promoting the utilization of cyanobacteria and proffer instructive significance for the biotransformation of cyanobacteria by BSFL.

Practical Analysis of Stock Market Under ESG

In today's era, climate change brought about by the greenhouse effect is gradually bringing more and more economic losses and natural disasters. In order to mitigate the negative impact of climate change, many countries have jointly formulated a 1.5°C climate scenario, which has brought a lot of impact on the global economy and industry development (Henderson et al., 2020). At the same time, my client commissioned me to build a portfolio that complies with the 1.5°C climate scenario, and the shares must be included in the S&P 500 Net Zero 2050 Climate Transition ESG Index as of 30/09/2022. The total portfolio is $100,000, and the benchmark designates the S&P 500 Net Zero 2050 Climate Transition ESG Index. Because the investment horizon is short and only six weeks, I chose semi-active management in my portfolio management process, and the rebalancing method was selected as percentage rebalancing. Finally, based on macro and industry analysis and relative valuation and technical analysis of the corresponding stocks, I selected ten stocks: Starbucks Corporation, Tesla, Inc., Amgen Inc., Cisco Systems, Inc., Eversource Energy, The Coca-Cola Company, and Expeditors International of Washington, Inc., Trans Digm Group Incorporated， Netflix, Inc., S&P Global Inc. I calculated their respective shares using the Markowitz model and bought and rebalanced, but unfortunately, my portfolio did not work as expected. The sector index fell by 4.87% in the week of the investment term, but my portfolio fell by 7.45% and performed poorly. Among them, the collapse of Tesla due to special events and my previous judgment of Tesla were greatly affected, and although its share price was only 9.94%, its share price fell by 33.74%. Although the late-stage rebalancing gave me hope for the better, the short investment horizon became a significant obstacle to the improvement of my portfolio.

The Impact of Audit Quality on Earnings Management: Evidence from Listed Companies in Sri Lanka

Earnings Management (EM) is related to the manipulation of reported income through accounting practices and decisions. With the occurrence of numerous financial collapses and failures, the reliability of the audit function has been challenged, as auditors play a critical role in expressing an opinion on the financial statements. This study investigates the impact of Audit Quality on EM in Sri Lankan listed companies. This study employs Modified Jones model to examine earnings management practices through Discretionary Accruals (DA). The selected proxies of audit quality which are Length of Audit Tenure, Audit Firm Size and Auditor Independence are the independent variables. The data is collected from annual reports for the financial periods 2015 - 2020 and audit reports for the financial period 2012 - 2020 of listed companies on the Colombo Stock Exchange (CSE). This study employed descriptive statistics, correlation analysis, and multivariate analysis to analyze the data. Based on the quantitative analysis, the results demonstrated that the association between audit firm size and earnings management in Sri Lankan listed companies is negative and significant. It was found that the level of EM between companies using Big 4 auditors and those using non-Big 4 auditors is much lower. This study revealed that auditor independence and EM have a significant negative association. It was suggested that independent auditors have a greater ability to regulate and identify EM activities through company management. Further, this study exposed that there is an insignificant association between the length of audit tenure and earnings management. These findings are useful to shareholders in appointing or reappointing auditors. Furthermore, this study enables stakeholders, including regulatory bodies, to examine the presence of EM practices in listed companies of CSE.

Research on Extracting Multiple Feature Impervious Surface Based on Fusion of Optics and Radar

Impervious surface is an important indicator for analyzing urban expansion, measuring the degree of urbanization, and characterizing the urban ecological environment. Accurately extracting impervious surface data is of great significance to regional economic development, disaster prediction, ecological restoration, and environmental assessment. In this paper, using multi-spectral, synthetic aperture radar (SAR) and surface temperature retrieval (LST) data, from the four perspectives of spectral features, time series features, SAR texture features, and coherence features, an index feature that highlights impervious surface information is constructed. The model generates a 10m impervious surface product in the urban area of Shaoguan, and verifies the accuracy of the real sample based on the 0.8m GF-2 data in the same period. The results indicate that the overall accuracy of extracting impermeable surfaces in the study area is 94%, with a Kappa coefficient of 0.92. The multi feature fusion random forest model combining optical data and SAR data has high extraction accuracy and applicability in the mountainous areas of southwestern China, which improves the misclassification of bare land and other land types as impermeable surfaces.

Reasons for Undergraduates’ Attitudes toward Online Learning

While online learning was implemented voluntarily in some countries, the pandemic forced many countries to embrace online learning as the only strategy for continuing the education of university students. Even though Sri Lanka was returning to some normalcy, the current economic catastrophe in Sri Lanka still forces online learning. Although the previous studies focused on many aspects of online learning, students’ attitudes toward online learning and the reasons behind those attitudes received rare attention. In this background, our paper explores the reasons for university students’ attitudes toward online learning based on nearly two and a half years of experience. Under the qualitative methodology, 20 semi-structured interviews were held with private and state university students. Our data analyses revealed that while no students have extremely positive or negative attitudes, many believe in online learning during crises. Also, in general, our participants’ attitudes toward online learning were mixed since they felt positive and negative about it depending on psychological factors, teaching methods, online learning environment, administration, colleagues, and crisis-driven reasons. While online learning was implemented voluntarily in some countries, the pandemic forced many countries to embrace online learning as the only strategy for continuing the education of university students. Even though Sri Lanka was returning to some normalcy, the current economic catastrophe in Sri Lanka still forces online learning. Although the previous studies focused on many aspects of online learning, students’ attitudes toward online learning and the reasons behind those attitudes received rare attention. In this background, our paper explores the reasons for university students’ attitudes toward online learning based on nearly two and a half years of experience. Under the qualitative methodology, 20 semi-structured interviews were held with private and state university students. Our data analyses revealed that while no students have extremely positive or negative attitudes, many believe in online learning during crises. Also, in general, our participants’ attitudes toward online learning were mixed since they felt positive and negative about it depending on psychological factors, teaching methods, online learning environment, administration, colleagues, and crisis-driven reasons.

The impact of the COVID-19 crisis on the fiscal positions in the euro area countries

Motivation: The selection of the topic stems from the threat of a debt crisis in the euro area, as a result of the COVID-19 pandemic. The main research hypothesis has been formulated as follows: the COVID-19 pandemic has caused a significant deterioration of the fiscal situation in all euro area countries, which has led to a debt crisis within the zone.Aim: The main purpose of the article is to analyze and assess the impact of the COVID-19 crisis on the fiscal positions of the euro area countries, primarily from the perspective of the fiscal rules included in the Maastricht Treaty and the Stability and Growth Pact.Results: The COVID-19 pandemic led to a sharp economic collapse in the eurozone in 2020. Consequently, fiscal rules were suspended, allowing the member countries to undertake significant fiscal interventions to mitigate the effects of the crisis. The pandemic thus forced the authorities in these countries to employ Keynesian methods to sustain the economy. As a result of the severe recession and the temporary emergency measures taken, public finances in the member states suffered significantly. The huge increase in the public debt ratios of some of these countries did not trigger a new debt crisis, however. The new system of economic governance, which enabled the establishment and use of innovative stabilization instruments at supranational level, proved to be of great support here. The main research hypothesis has not been therefore entirely confirmed. The mutually reinforcing effects of the eurozone’s fiscal policy and monetary policy were crucial for mitigating the effects of the COVID-19 crisis in its countries and supporting the economic recovery thereof in 2021–2022. The rapid development of the crisis has revealed the difficulties in the application of fiscal policy assessment indicators. Changes in the surveillance should lead to improved regulatory clarity and reduced regulatory complexity.

Improving Business Performance For SMEs: The Power Of Co-Innovation, And Business Networks Resilience In The Covid-19 Pandemic

The Covid-19 outbreak-induced economic crisis has been considered significantly worse than the Great Depression (1929–1939), which had been seen as the worst economic catastrophe in history. Small and medium-sized enterprises (SMEs) have suffered heavier losses than large organizations during the pandemic. However, empirical results regarding relationships among resilient factors and SMEs performance have been inconclusive. This study builds on the Resources-based-view and Contingent Theory to examine one resilient factor as co-creation. Following a comprehensive literature review, quantitative research was adopted in this paper. There were a total of 450 SMEs participating in this study. SmartPLS 3.0 was performed on the relationship between co-innovation and SMEs outcomes. The findings show a positive and direct impact of co-innovation and organizational resilience and further leverage SMEs’ performance. Furthermore, it was found that co-innovation also boosts the resilience of business networks, SMEs which plays a critical role to business survival. Driven from these findings, SMEs in emerging markets should consider and focus on co-innovation with their stakeholders to overcome the long-lasting impacts from the pandemic.

EXPLORING COVID-19 AND SOCIAL CONFLICT IN AFRICA: NIGERIA AS A CASE STUDY


 There are many dimensions to conflict in Africa. It depends on the nature of the underlying demography, heterogeneity, and historical context of the state’s social and political problems. The impact of the coronavirus has greatly affected the socioeconomic structure and governance system in Africa, leading to social conflicts. Moreover, the social conflict led to deaths, job losses, and human capital reductions, resulting in economic catastrophes in South Africa, Egypt, and Ethiopia, among others. In Nigeria, the government was unable to cushion the impact of Covid-19, frustrated by the issues of poverty and inequality, wherein the masses were pounded with hunger and insecurity; a corrupt policing system precipitated the social unrest in 2020. Nigeria’s social issues, coupled with the shock of Covid-19, cumulated into protest actions, looting, and police brutality. The government’s inadequate response to the political crisis and state of unrest greatly influenced the public’s belief and outlook on social concerns. The research postulates the following question: how did the social conflict in Africa and Nigeria become overheated during Covid-19? The paper adopts a qualitative method that explores existing literature and media sources on social conflicts and Covid-19 in Africa and Nigeria. The study anchors its theoretical framework on the fragile state theory. The paper concludes that Nigeria’s weakened socioeconomic structure met with the shock of the horror of Covid-19, which sparked social conflict in the country.

Spatial Modelling Analysis for Potential Expansion of Cipanas City Candidate Area as Autonomous City

The establishment of new autonomous city is considered a significant decision and the proposal has been under review in Cipanas for several years. Therefore, this research aimed to address the proposal by conducting spatial modelling analysis for potential expansion of Cipanas as autonomous city, using Geographic Information System (GIS) method. The physical and social factors were analysed, using spatial overlay analysis to determine potential development area. SWOT analysis was also performed for qualitative insights into strengths, weaknesses, opportunities, and threats of the prospective Cipanas area. The results showed that Cipanas had significant potential to become autonomous city, with a particular focus on agriculture and tourism due to the varied topography and predominant natural land use. Through overlay analysis, areas in Pacet, Cipanas, and a small part of Cugenang Sub-districts were identified as potential development zones for the capital city. In general, Cipanas area was found suitable for the development of a major city with an agropolitan concept. Certain areas were considered more appropriate with urban characteristics compared to other areas based on specific criteria. Based on the results, recommendations include infrastructure improvements, economic sector diversification, tourism promotion, and disaster risk reduction activities. GIS spatial analysis facilitated the accurate identification of potential areas, aiding in mapping and pinpointing optimal areas for the establishment of new autonomous city.

Building a maternal and child cohort amidst Lebanon’s socioeconomic collapse: preliminary results and navigating research challenges

The impact of conflict and crisis on maternal and child health underscores the need for reliable research in vulnerable populations. Lebanon, amidst ongoing economic collapse, political instability, and healthcare system strain, offers a case study for exploring these impacts, particularly on preterm babies and their development. This study aims to assess the feasibility of establishing a prospective cohort of mothers and their full-term and preterm babies in Lebanon, examining the association between social determinants, preterm birth, and developmental outcomes amidst the nation's multifaceted crises. The planned cohort involves 50 full-term and 50 preterm mother-baby pairs recruited at birth and followed up to 9–12 months post-birth. Data collection spans social determinants, perceived stress, social support, quality of life, and developmental assessments. Challenges in recruitment, follow-up, and data collection in the context of Lebanon's socio-political and economic turmoil are evaluated, alongside ethical considerations for research in vulnerable populations. Preliminary findings highlight substantial recruitment and follow-up challenges, notably due to population mobility, economic instability, and healthcare access issues. Despite these obstacles, 113 mother-baby pairs have been recruited. Early analysis reveals significant stress and reduced quality of life among mothers, particularly those with preterm infants, against a backdrop of declining birth rates and healthcare worker exodus. Conducting research in crisis settings like Lebanon presents unique methodological and ethical challenges but remains crucial for understanding and improving health outcomes in vulnerable populations. The study underscores the importance of adaptable research designs and ethical diligence in crisis research, highlighting the need for interventions tailored to these contexts. Establishing a mother and child cohort in Lebanon's crisis-ridden setting is faced with many challenges but is essential for guiding future interventions. Research in such contexts is needed to address health disparities and supporting vulnerable populations, emphasizing the need for dedicated funding and innovative research approaches in times of crisis.

“A Hard Road With Personal Costs”: How Digital-First Nonprofit News Founders Navigate Precarity

As the journalism industry descends further into economic collapse, precarity has become an increasingly useful concept in studies of newswork. While a growing body of literature has begun to consider how founders of startup journalism outlets navigate their own precarious self-employment, the existing scholarship pays little attention to journalists working at digital-first nonprofit newsrooms. This study draws on a political economic framework and in-depth interviews with founders of nonprofit news organizations in the United States to understand how these newsworkers experience and navigate various forms of precarity. Findings from this research confirm that precarity is ubiquitous among nonprofit news founders, and that financial precarity is particularly acute. Founders rely heavily on their personal and professional communities for support in navigating their precarious working conditions, and find great satisfaction in providing high-quality news and information to their communities. This study adds to growing calls for a labor turn in journalism studies and contributes to the literature on journalistic precarity by extending the concept to examine nonprofit newsrooms and their founders. Additionally, these findings provide insight into specific ways in which the burden of precarity on founders can be reduced.

Secure medical sensor monitoring framework using novel hybrid encryption algorithm driven by internet of things

The Internet of Things (IoT) makes intelligent identification and management possible by enabling all items to connect to the Internet and exchange data through various new technologies. In recent years, it has been noted that life expectations throughout the globe have gradually increased, which has caused the population of older people to often grow. An unstable environment has been created by a rise in the population of seniors, understaffing in medical facilities, and increased government spending on healthcare. This environment could ultimately result in the financial collapse of government healthcare programs and lower standards of care for all people. It is challenging for hospitals to care for all of the patients since patient numbers have virtually doubled every four decades. A significant societal concern is ensuring that patients have a decent quality of life. To continuously monitor a patient’s physiological characteristics using sensors on the patient’s body, healthcare monitoring systems are increasingly important nowadays. This technology can continuously check physiological data every 10 s. Nodes with sensors may measure things like blood pressure, body temperature, heart rate, and ECG signals. Let’s use some pre-processing methods once the sensor data has been collected to eliminate duplicates, mistakes (outliers), and missing values. With the support of a creative technique, this healthcare monitoring system has enabled safe IoT-based communication. The triple protection of improved AES, modified RSA, and revised Paillier encryption would raise the bar for security measures.

Confronting the dilemma of growth. A response to

This commentary responds to a recent article in this journal (Warlenius, 2023) purporting to identify the ‘limits to degrowth’. We first clarify and set in context the tensions between growth rates and decoupling rates on which the argument is based. In particular, we show how failing to achieve sufficient decoupling appears to leave society torn between missing our climate targets and crashing our economies. This dilemma highlights the tough choices inherent in the climate transition. But it does not imply that critics of growth endorse economic collapse. On the contrary, the intention of postgrowth scholars is clearly to prevent this collapse by offering structural and social reforms, alongside technological options, as a way of meeting climate targets. Specifically we dispute the claim that growth is the best way to achieve high rates of decoupling. Counter to this, we present several mechanisms through which a growth-critical approach may be better aligned with the climate transition than an economic ideology founded on ‘growth at all costs’.

Tracking Weekly State-Level Economic Conditions

Abstract This paper develops a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies. We find considerable cross-state heterogeneity in the length, depth, and timing of business cycles. We illustrate the usefulness of these state-level indices for quantifying the main contributors to the economic collapse caused by the COVID-19 pandemic and for evaluating the effectiveness of the Paycheck Protection Program. We also propose an aggregate indicator that gauges the overall weakness of the U.S. economy.