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The purpose of this paper is to investigate the effect of foreign currency derivative (FCD) usage on firm value. In specific, the authors study the significance of the relationship between FCD usage and firm value for exporters and non-exporters, respectively, with consideration of conditions of exchange rate movements.

As the main empirical test, this paper utilizes the multivariate Tobin's Q model for a panel dataset of 125 non-financial firms, which have been continuously listed on the Dhaka Stock Exchange from 2010–2018. The authors divide the sample firms into two groups: exporters and non-exporters based on theoretical background and estimate the relationship between FCD usage and the firm value measured by Tobin's Q for each firm group. Also, as a complementary test, the Fama–French three-factor model is used to estimate the effect of FCD usage on the monthly portfolio returns of the firms when exchange rate levels and volatility are considered.

First, the effect of FCD usage on firm value significantly exists in the Bangladeshi non-financial firms from 2010–2018. Specifically, the FCD effect on firm value is negative (hedging discount) for exporters, whereas the FCD effect is positive (hedging premium) for non-exporters. Second, the multivariate analyses suggest the hedging discount (premium) for exporters (non-exporters) is consistent only when the domestic currency appreciates (depreciates). Third, the FCD effect on firm value is consistently positive for non-exporters when exchange rate volatility is higher.

Further studies could be conducted with the detailed data of the firms' hedging performance, if they are available. Particularly, the cost and revenue data associated with hedging would help identify evident reasons for exporters' hedging discounts in Bangladesh. Moreover, the best hedging option for maximizing the Bangladeshi firm value could be analyzed with the detailed FCD type data, such as futures, options and swaps. Further refinement of these data would improve institutional capability for substantive growth in frontier markers.

This paper provides practical implications for corporate managers in charge of managing foreign exchange risk in Bangladesh. First, closer accounting observation is much necessary for the firms to accurately evaluate whether the FCD usage is beneficial in their cash flows because the exporters come to have two large costs: entering foreign markets and carrying FCD program. Second, for better value from using FCDs, the exporters should learn how to utilize appropriate financial derivatives. FCD usage is beneficial when the exporters are fully aware of what their real risks are and the role of appropriate derivatives within its portfolio strategy.

A policy reducing the costs of either foreign market entry or FCD usage would be helpful for lessening the FCD discount effect. Also, a long-term policy that enables the born-to-exporters to establish substantive positions in the home market would be helpful for enhancing the cash inflow capability, thereby causing the firm value structure to be strengthened.

The paper has originality because it bridges the gap in the literature. First, the authors find a new empirical result regarding the significant FCD effect on a frontier market, although the FCD effect deals with the small and secondary risk in the previous literatures. Second, finding the contrasting FCD effect between the exporters and non-exporters sheds lights on the importance of firm-specific characteristics for precisely evaluating the FCD effect on firm value. Third, we find that the significant FCD effect is prominent by condition of exchange rate movements, which has been overlooked in prior literature.

Lighting in building sectors (consumes the highest energy in commercial buildings and the second highest in residential buildings in India) has very much potential for energy conservation in buildings. With the use of daylighting system, energy consumption in lighting can be lowered up to 30 to 40 per cent.

An experimental effort has been made in this paper to explore the internal wall coloring effect on the performance of tubular light pipe. Trace-pro software has been used and validated. With the help of this software, light pipe has been designed and simulated in a ray tracing mode. Assessment of four globally used prediction models has also been conducted to compare the performances in different seasons for light pipes in the composite climate of New Delhi.

It has been conducted based on three statistical indicators as mean bias error, root mean square error and R². Using regression, an empirical model for average internal illuminance has been developed as a function of light reflectance value (LRV) and solar altitude angle. Trace-pro results confirmed that maximum internal illuminance can be obtained with wall surfaces coated with high LRV color. Finally, by using of a single light pipe system for a test room with the artificial lighting system and applying continuous dimming control, the amount of electrical energy has been saved up to 38.5 per cent per year.

After going through the literature, it has been identified that there has been no paper published which explores the effect of colors of the internal walls on the performance of the light pipe. Along with this, the comparison between existing empirical performance models and find out which model gives the best result in different seasons has been carried out for New Delhi, India.

This paper presents a reclassification of markers for mixed reality environments that is also applicable to the use of markers in robot navigation systems and 3D modelling. In the case of Augmented Reality (AR) mixed reality environments, markers are used to integrate computer generated (virtual) objects into a predominantly real world, while in Augmented Virtuality (AV) mixed reality environments, the goal is to integrate real objects into a predominantly virtual (computer generated) world. Apart from AR/AV classifications, mixed reality environments have also been classified by reality; output technology/display devices; immersiveness as well as by visibility of markers.

The approach adopted consists of presenting six existing classifications of mixed reality environments and then extending them to define new categories of abstract, blended, virtual augmented, active and smart markers. This is supported with results/examples taken from the joint Mixed Augmented and Virtual Reality Laboratory (MAVRLAB) of the Ulster University, Belfast, Northern Ireland; the Abdus Salam International Centre for Theoretical Physics (ICTP), Trieste, Italy and Santasco SrL, Regio Emilia/Milan, Italy.

Existing classification of markers and mixed reality environments are mainly binary in nature and do not adequately capture the contextual relationship between markers and their use and application. The reclassification of markers into abstract, blended and virtual categories captures the context for simple use and applications while the categories of augmented, active and smart markers captures the relationship for enhanced or more complex use of markers. The new classifications are capable of improving the definitions of existing simple marker and markerless mixed reality environments as well as supporting more complex features within mixed reality environments such as co-location of objects, advanced interactivity, personalised user experience.

It is thought that applications and devices in mixed reality environments when properly developed and deployed enhances the real environment by making invisible information visible to the user. The current work only marginally covers the use of internet of things (IoT) devices in mixed reality environments as well as potential implications for robot navigation systems and 3D modelling.

The use of these reclassifications enables researchers, developers and users of mixed reality environments to select and make informed decisions on best tools and environment for their respective application, while conveying information with additional clarity and accuracy. The development and application of more complex markers would contribute in no small measure to attaining greater advancements in extending current knowledge and developing applications to positively impact entertainment, business and health while minimizing costs and maximizing benefits.

The originality of this paper lies in the approach adopted in reclassifying markers. This is supported with results and work carried out at the MAV Reality Laboratory of Ulster University, Belfast–UK, the Abdus Salam International Centre for Theoretical Physics (ICTP), Trieste-Italy and Santasco SrL, Regio Emilia, Milan–Italy. The value of present research lies in the definitions of new categories as well as the discussions of how they improve mixed reality environments and application especially in the health and education sectors.

The purpose of this note is to provide general solutions for radiative magnetohydrodynamic natural convection flow.

To obtain exact solutions for such motions of Newtonian fluids, as seen in the existing literature, the Laplace transform technique is used.

General solutions are obtained for temperature, velocity and Nusselt number in the presence of heat source and shear stress on the boundary. They can generate exact solutions for any motion with technical relevance of this type. Fluid velocity is presented as the sum of mechanical and thermal components. Influence of physical parameters on temperature and velocity is graphically underlined for ramp-type heating plate that applies a constantly accelerating shear stress to the fluid. Thermal and mechanical effects are significant and must be taken into consideration.

For illustration, as well as for a check of results, three special cases with applications in engineering are considered and some known results are recovered.

Obtained solutions are presented in the simplest forms. In addition, the solutions corresponding to cosine oscillatory heating and oscillating shear are presented so that they can be immediately reduced to those corresponding to constant heating and uniform shear if the oscillations’ frequency becomes zero. Heat transfer characteristics with thermal radiation are graphically illustrated using one parameter only for such motions.

After the fall of Burma on 10 March 1942 the British government extensively implemented scorched-earth policies in Bengal like denial of rice and boats. The British government had inadequate defense equipment to resist Japanese attack in Bengal. After the Japanese invasion supply of Burmese rice suddenly stopped. Faridpur district used to import rice from Burma. The Burmese conquest created an immediate and serious crisis for several rice imported districts and coastal districts of Bengal. Hence, none of the districts of East Bengal could escape its brutal clutches and severity recorded in Chittagong, Dhaka, Faridpur, Tripura, Noakhali, Bakargonj and so on.

Among the affected districts of Bengal, Faridpur has been chosen as study area due to severity of famine. This study addresses the famine scenario of Faridpur. Data has been collected from primary and secondary sources. Content Analysis Research method is used to test reliability and validity of the data. Historical Analysis Research method has been followed in this study.

Finding of the study shows that the government relief issues, ignorance of warnings, political nepotism and denial policy of British government intensified the famine of Faridpur district. The wartime tactics adopted by the colonial government aggravated the famine situation. This article has shed light on the government war time policy, activity and some impacts of British decline in Burma that fueled the famine in Faridpur district.

This study is my original research work and has not been published else where.

This paper proposes a holistic, proactive and adaptive approach to cybersecurity from a service lens, given the continuously evolving cyber-attack techniques, threat and vulnerability landscape that often overshadow existing cybersecurity approaches.

Through an extensive literature review of relevant concepts and analysis of existing cybersecurity frameworks, standards and best practices, a logical argument is made to produce a dynamic end-to-end cybersecurity service system model.

Cyberspace has provided great value for businesses and individuals. The COVID-19 pandemic has significantly motivated the move to cyberspace by organizations. However, the extension to cyberspace comes with additional risks as traditional protection techniques are insufficient and isolated, generally focused on an organization's perimeter with little attention to what is out there. More so, cyberattacks continue to grow in complexity creating overwhelming consequences. Existing cybersecurity approaches and best practices are limited in scope, and implementation strategies, differing in strength and focus, at different levels of granularity. Nevertheless, the need for a proactive, adaptive and responsive cybersecurity solution is recognized.

This paper presents a model that promises proactive, adaptive and responsive end-to-end cybersecurity. The proposed cybersecurity continuity and management model premised on a service system, leveraging on lessons learned from existing solutions, takes a holistic analytical view of service activities from source (service provider) to destination (Customer) to ensure end-to-end security, whether internally (within an organization) or externally.

The purpose of this paper is to report on developments and applications of mixed reality cubicles and their impacts on learning in higher education. This paper investigates and presents the cost effective application of augmented reality (AR) as a mixed reality technology via or to mobile devices such as head-mounted devices, smart phones and tablets. Discuss the development of mixed reality applications for mobile (smartphones and tablets) devices leading up to the implementation of a mixed reality cubicle for immersive three dimensional (3D) visualizations.

The approach adopted was to limit the considerations to the application of AR via mobile platforms including head-mounted devices with focus on smartphones and tablets, which contain basic feedback–to-user channels such as speakers and display screens. An AR visualization cubicle was jointly developed and applied by three collaborating institutions. The markers, acting as placeholders acts as identifiable reference points for objects being inserted in the mixed reality world. Hundreds of participants comprising academics and students from seven different countries took part in the studies and gave feedback on impact on their learning experience.

Results from current study show less than 30 percent had used mixed reality environments. This is lower than expected. About 70 percent of participants were first time users of mixed reality technologies. This indicates a relatively low use of mixed reality technologies in education. This is consistent with research findings reported that educational use and research on AR is still not common despite their categorization as emerging technologies with great promise for educational use.

Current research has focused mainly on cubicles which provides immersive experience if used with head-mounted devices (goggles and smartphones), that are limited by their display/screen sizes. There are some issues with limited battery lifetime for energy to function, hence the need to use rechargeable batteries. Also, the standard dimension of cubicles does not allow for group visualizations. The current cubicle has limitations associated with complex gestures and movements involving two hands, as one hand are currently needed for holding the mobile phone.

The use of mixed reality cubicles would allow and enhance information visualization for big data in real time and without restrictions. There is potential to have this extended for use in exploring and studying otherwise inaccessible locations such as sea beds and underground caves. Social implications – Following on from this study further work could be done to developing and application of mixed reality cubicles that would impact businesses, health and entertainment.

The originality of this paper lies in the unique approach used in the study of developments and applications of mixed reality cubicles and their impacts on learning. The diverse composition in nature and location of participants drawn from many countries comprising of both tutors and students adds value to the present study. The value of this research include amongst others, the useful results obtained and scope for developments in the future.

The aim of this research paper is to generalize the previous works on the design of accelerated life tests (ALTs) for periodic inspection and Type I censoring and to promote the use of an exponentiated Weibull (EW) distribution in accelerated life testing.

Statistically optimal ALT plans are suggested for items whose lifetime follows the EW distribution under periodic inspection and Type I censoring. It is assumed that the mean lifetime (scale parameter) is a log‐linear function of stress and that the shape parameters are independent of stress. Given shape parameters, design stress and high test stress, the test plan is optimized with respect to the low test stress and the proportion of test units are also allocated to this test stress. The asymptotic variance (AsVar) of the maximum likelihood estimator of log mean life at the design stress is used as an optimality criterion with equally spaced inspection times. A FORTRAN program was written to calculate the optimal plans. Procedures for planning of an ALT, including selection of sample size, have also been discussed. An illustration of the optimal ALT plans has been done through a numerical example.

Computational findings for various values of the shape parameters indicate that the AsVar of log mean life at the design stress is insensitive to the number of inspection times and to misspecifications of imputed failure probabilities at design and high test stresses. Computational findings also show that optimal designs of ALT previously obtained for exponential, Rayleigh, and Weibull distributions become special cases of the EW distribution. Thus, the EW distribution is a useful and widely applicable reliability model for optimal ALT plans.

The present investigation features the EW distribution of lifetimes of test items and it generalizes the previous works on accelerated life testing. Furthermore, the propose test plans can be applied to estimate the lifetime of highly reliable product or material, if a researcher designs a test under the assumption of this model.

Open educational resources (OERs) are internet-based digital content that is used for academic purposes by instructors, students and researchers in the era of the information economy. Hence, this study aims to systematically review the literature, focusing on OERs’ benefits and challenges in the academic world.

The relevant literature systematically reviewed following the preferred reporting items for systematic literature reviews and meta-analyses (PRISMA) guidelines. The pertinent literature was obtained from four main scholarly databases, and finally, 21 papers that met the inclusion criteria were included in this study.

The findings revealed that the key benefits of OERs include expanded access to knowledge, supporting lifelong learning, pedagogical benefits and enhancing students’ learning outcomes. However, the key challenges include lack of time to find appropriate resources, lack of awareness about the usage and copyrights, quality assurance and technological limitations and lack of organizational support.

The practical and policy implications highlight the joint venture of academia and library professionals to help the students evaluating OERs, quality assurance, copyright issues and lifelong learning.

Earlier studies missed few significant insights of OERs, such as they did not address the quality assurance of OERs; the issue of understanding of copy right (creative common license) challenges related with OERs; and lack of time for finding suitable resources. Hence, this study identified significance insights related with OERs.

This study aims to propose an approach towards reducing differences between national economies and living standards existing between the world’s wealthiest and least affluent nations.

A systemic review identifies the impeding purpose as proposed above: an entirely new initiative.

The efforts recommended are vital for preserving the human species and ensuring the integrity of our planet. For both the future of the human species and the planet itself, it is essential to reduce the divide between wealthy and poor. Now is the time to give force to the types of implementation necessary to meet these combined goals.

This essay avoids dissecting problems of current geopolitical and ideological character. Despite their sometimes contentious nature, they are often reduced by intelligent diplomacy.

The study proposes a holistic approach to bridging the North-South divide.