Risk Tolerance of Small-to-Medium Enterprise Owners and Operators Towards Capital Markets: Evidence from the Philippines

Elvin P. ROSARIO(Elvin P. ROSARIO ) 한국유통과학회 2023 The Journal of Asian Finance, Economics and Busine Vol.10 No.1

The purpose of this research was to determine the degree to which Small-to-Medium Enterprise (SME) owners and operators in Mountain Province were willing to take on financial risk to invest in the capital markets as a potential additional source of income, as well as the extent to which these five indicator variables—particularly their income, expenses, financial goals, liquid cash, and insurance coverage—were influenced by demographic factors. The study used a quantitative approach and employed a descriptive survey research method. The results show that the SME Owners and Operators in Mountain Province have minimal knowledge of capital market investments which makes them moderate investors with a neutral level of financial risk tolerance toward capital market investment. Their marital status, net income, and educational attainment significantly influence their financial risk tolerance level. The respondents also believe that engaging in the capital markets will grow their businesses. Further, the extent of influence of Income, Expenses, Liquid Cash, and Insurance Cover on the financial risk tolerance of the SME owners and operators in Mountain Province a great extent; thus, making them careful in investing in the capital markets, and it is primarily affected by their Net Income. Consequently, the financial goals of SME owners and operators in Mountain Province have a vital role in their financial risk tolerance level.

PRE- AND POST-CRISIS TRUST IN BANKS: LESSONS FROM TRANSITIONAL COUNTRIES

ELVIN AFANDI,Nazim Habibov 중앙대학교 경제연구소 2017 Journal of Economic Development Vol.42 No.1

We study the factors determining the level of trust in banks before and after the 2007- 08 financial crisis and how this crisis reshaped banking trust in transitional countries. We find that younger, rural, educated, banked and generally trusting people tend to have higher confidence towards banks in both periods. Among country-level covariates, growth rate of GDP and Rule of Law remain significantly associated with banking trust in both periods. Finally, our findings indicate that the financial crisis has temporary impact on trust in banks since pulling back the rate of GDP growth tends to recover banking trust.

Complementary Institutions in Authoritarian Regimes: The Everyday Politics of Constituency Service in Singapore

Elvin Ong 동아시아연구원 2015 Journal of East Asian Studies Vol.15 No.3

Recent political science research has suggested that autocrats adopt a variety of institutions such as nominally democratic elections and ruling parties to buttress authoritarian durability. In this article I investigate the role of constituency service in an authoritarian regime. I argue that Singapore’s Meet-the-People Sessions (MPS) is a complementary institution that can serve to mitigate the weaknesses of other authoritarian institutions, thereby entrenching authoritarianism, rather than serve as a form of democratic representation. First, it is a mechanism to gain valuable everyday information about grievances within the population, thereby allowing the ruling People’s Action Party (PAP) to formulate policies and effectively target its response. Second, it is a convenient venue to recruit and socialize ordinary party members, thus helping the PAP forestall potential party decay. Symbolically, conducting MPS is a material performance of the hegemonic ideology of elitism between PAP politicians and ordinary Singaporeans.

Mass and Stiffness Distributions in Optimized Ungrouped Unbraced Frames

Alex Elvin,Richard Walls 한국강구조학회 2010 International Journal of Steel Structures Vol.10 No.3

This paper investigates the distribution of mass and stiffness in multi-storey, ungrouped, unbraced, optimized frames. Ungrouped structures are impractical to design and construct. However, optimized, ungrouped structures suggest how structural systems can be improved, and the loads can be carried more efficiently. The Virtual Work Optimization (VWO) method is used to minimize the weight of the structures considered. A 60-storey structure found in the literature is optimized to compare the distribution of mass and stiffness in grouped and ungrouped configurations. A parametric study of frames subjected to lateral loads, ranging in height from 5 to 30 stories, is carried out. Structures are designed to satisfy both strength and deflection criteria. Three different section databases are used for each case study to investigate whether the nature of discrete sections influences results. When ungrouped frames subject to lateral loads are optimized the total stiffness and mass per floor decrease approximately linearly with decreasing height, followed in some cases by a constant region of mass and stiffness, and a decrease in the foundation region. Distinct patterns emerge where members are stiffened on diagonal paths across the width of the structure. The distribution of mass in the frames suggests truss or megabrace behaviour.

Optimizing the Design of Tall Buildings Using the Principle of Virtual Work: The Eff ect of Semi Rigid Connections

Alex Elvin,Johnnie Strydom 한국강구조학회 2021 International Journal of Steel Structures Vol.21 No.1

The Virtual Work Optimization Method (VWOM) is used to optimize tall buildings with semi rigid connections. The VWOM is an automated method that minimizes the mass of a structure with a given geometry, defl ection criteria and load cases, while adhering to building code requirements. Members are selected from a user defi ned database to meet strength and stiff ness criteria. The rotational stiff ness of connections can be specifi ed and varied, from rigid to pinned. The method is explained using an example of a two storey one bay steel frame with six members. Four case studies are presented: (i) a six storey two bay frame, (ii) a ten storey one bay steel building, (iii) a fi fteen storey three bay steel frame and (iv) a twenty four storey three bay building. The examples are compared to results found in the literature. Structures were optimized for a range of connection rotational stiff nesses. The VWOM obtained results up to 44.6% lighter than published work. Optimized results showed that in most cases the semi rigid connection produced the same results as the rigid connections. This is due to the rapid plateauing of the optimized mass as the connection stiff ness increases. Thus, the typical defi nition of semi rigid and rigid rotational stiff nesses (for example Eurocode 3) are both found on this plateau. If some members are lightly loaded, broad semi rigid and rigid bands can be produced. The eff ect in these cases is that structures with rigid connections are lighter than those with semi rigid connections as no compensation in the member stiff ness is required to meet defl ection criteria.

Optimizing Structures with Semi-Rigid Connections Using the Principle of Virtual Work

Alex Elvin,Johnnie Strydom 한국강구조학회 2018 International Journal of Steel Structures Vol.18 No.3

In this paper, the virtual work optimization method (VWOM) has been generalised to consider structures with semi-rigid connections. The VWOM is an automated method that minimizes the mass of a structure with a given geometry, multiple defl ection criteria and load cases, while adhering to Design code requirements. In the optimization process, members are selected from a discrete database to meet all strength and stiff ness criteria. Connections are modelled using rotational springs, allowing some moment transfer. The rotational stiff ness of each connection can be varied form rigid to pinned. The example of a pitched roof frame is used to explain the method. Two case studies are considered: (i) a three-storey two-bay and (ii) a four-storey three-bay offi ce building. The VWOM produced results up to 26.7% lighter than results in the literature. Furthermore, the structures were optimized for a range of rotational stiff ness, where all connections in the structure were assumed to have the same rotational stiff ness. Characteristic jumps in the optimized mass versus rotational stiff ness were observed.

Sand or grease? Corruption-institutional trust nexus in post-Soviet countries

Nazim Habibov,Elvin Afandi,Alex Cheung 한양대학교 아태지역연구센터 2017 Journal of Eurasian Studies Vol.8 No.2

This paper empirically tests several hypotheses about the nexus of corruption-institutional trust in Post-Soviet transitional countries of the former Soviet Union and Mongolia. We use two different indices of institutional trust to check the robustness of our analysis and estimate OLS and instrumental variable models with and without interaction terms. All things considered, our findings reject “greases the wheels” and “trust begets an honest political system” hypotheses. Instead, our findings support the “sand the wheels” hypothesis. Furthermore, a multiplicative interaction model suggests that the negative marginal effects of experienced corruption are higher in the environments where satisfaction with services is low. In addition, we found that increases in corruption erode trust at all levels of the societal institutions including political parties, government and financial institutions, international investors, non-profit organizations, and trade unions. This finding is important since it highlights the negative consequences of corruption on the development of broader level economic institutions and on civil society.

Production and Properties of Cross-linked Recombinant Pro-resilin: an Insect Rubber-like Biomaterial

Misook Kim,Chris Elvin,Russell Lyons,Mickey Huson 한국고분자학회 2006 한국고분자학회 학술대회 연구논문 초록집 Vol.2006 No.10

The Importance of Arrhythmia Burden for Outcomes and Management Related to Catheter Ablation of Atrial Fibrillation

Paula Sánchez-Somonte,Enes Elvin Gul,Atul Verma 대한심장학회 2021 Korean Circulation Journal Vol.51 No.6

Atrial fibrillation (AF) ablation has been shown to be an effective treatment for AF, although our understanding of AF ablation outcomes until now, has been based on AF recurrence as a dichotomous variable. Reduction in AF burden, defined as the proportion of time that an individual is in AF during a monitoring period, has been already correlated to an improvement in quality of life and is likely a better assessment of success. Clinically, many patients may still have a few short recurrences of AF but feel much better. In addition, several studies have related higher AF burden with poorer health outcomes and a higher risk of stroke. Despite the growing understanding of AF burden, it is not clear yet which threshold of AF burden would be considered an appropriate outcome measure for AF ablation. Further investigations are needed to address that question. However, the reduction of AF burden seems to be a more accurate reflection of procedural success and a better predictor of prognosis and stroke risk than a single measure of AF.

A Dimeric Triterpenoid Glycoside and Flavonoid Glycosides with Free Radical-Scavenging Activity Isolated from Rubus rigidus var. camerunensis

Télesphore Benoît Nguelefack,Félicité Hermine Kamga Mbakam,Léon Azéfack Tapondjou,Pierre Watcho,Elvine Pami Nguelefack-Mbuyo,Beaudelaire Kemvoufo Ponou,Albert Kamanyi,박희준 대한약학회 2011 Archives of Pharmacal Research Vol.34 No.4

The aerial part of Rubus rigidus var. camerunensis (Rosaceae) is used to treat respiratory and cardiovascular disorders in the Cameroonian traditional medicine. The ethanol extract exhibited more potent antioxidant activity (E_maxs of 119% and 229% activity on DPPH and β-carotene test) than aqueous extract. Bioactivity-guided fractionation of the ethanol extract based on free radical-scavenging assay (DPPH assay) afforded five flavonoid glycosides (four flavonol glycosides and an anthocyanin) and three glucosides of 19α-hydroxyursane-type triterpenoid (two monomeric and one dimeric triterpenoids). The flavonoids were identified as kaempferol 3-O-(2´´-O-E-p-coumaroyl)-β-D-glucopyranoside (1), kaempferol-3-O-β-D-glucopyranoside (astragalin, 2), kaempferol-3-O-α-L-arabinofuranoside (juglanin, 3), quercetin-3-O-β-D-glucopyranoside (isoquercitrin, 4), pelargonidin-3-O-β-D-glucopyranoside (callistephin, 5). The three triterpenoids were 2α, 3β, 19α, 23-tetrahydroxyurs-12-ene-28-O-β-D-glucopyranosyl ester (nigaichigoside F1, 6), 2α, 3β, 19α-trihydroxyurs-12-ene-23-carboxyl-28-O-β-D-glucopyranosyl ester (suavissimoside R_1, 7) as monomeric triterpenoids and coreanoside F_1 (8) as a dimeric triterpenoid. The flavonoids exhibited potent antioxidant activities (66 to 93.56% against DPPH radical) and they were also active on β-carotene test. Coreanoside F_1 exhibited a 63% antioxidant activity, meanwhile the other two triterpenoids showed a weak activity. Three important facts on structure-activity relationship were observed: Compound 8, a dimeric triterpenoid glycoside,strongly enhanced antioxidant activity of its monomers, compound 3 with 3-O-α-L-arabinofuranyl has much more potent activity than compound 2 with 3-O-β-D-glucopyranosyl, and antocyanin (5) is more potent than its corresponding flavonol glycosides.