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Exchanges are designed to be default tolerant. The exchange functions as a counter-party in all transactions. A system of margining ensures that a transaction is always consummated even if either the buyer or the seller fails to honour his/her commitment. Investigations on the payment crisis at the National Spot Exchange Limited (NSEL) in 2013 involving Rs. 5,600 crore revealed that the reasons for the crisis lay in the hubris of the promoters, connivance and collusion of the independent and institutional directors on the board of NSEL, benevolence of the government and ambivalence of the regulator. The failure raises serious concerns about governance at all levels in the country. Fundamental principles of governance were given a short shrift.

Most conventional financial products currently on offer to Muslims in the Indian market are incompatible with Islamic religious principles; there is a recognized demand for alternatives within this niche community. India has the third largest Muslim population in the world – 155,477,386 in 2011. The purpose of this paper is to present the status of marketing activities of Shari'ah‐based investments and a comprehensive analysis of avenues for Islamic investments in India.

In India, Islamic investment is gathering pace as Muslims in the country are becoming more vocal in their demands for greater self expression. Hence, there is a great potential in India itself. Even if a small percentage of this population can be pressured to invest in the Islamic investments, the amount of money that can be brought into the system could be enormous.

The findings reveal the emergence of Islamic investment opportunities on Shari'ah‐based investments in India. This paper also provides suggestions for enhancement of Islamic investment opportunities in India.

With a sound economic base and with hundreds of companies complying with Shari'ah norms, India offers a huge opportunity for Islamic equity investment. If performance as a parameter is considered, it is observed that Shari'ah‐compliant investments, being low in debt and having sound fundamental principles, tend to perform better, hence large non‐Muslim investors should take the benefit of these socially responsible and above par performing Islamic investments.

Illustrated through ethnographic data drawn from a case study of a full-day kindergarten in Ontario, Canada, this chapter argues for an approach to inclusive curriculum that places the ethical relation at the center and promotes children’s rights through opportunities for multimodal communication. Theoretically, this case drew on multimodal literacy and ethical curricula. The study used ethnographic tools such as class observations, semi-structured interviews, and collection of children’s work. Findings indicate that responsive, ethical curricula through multimodal pedagogies were intrinsically inclusive of all children’s funds of knowledge and encouraged children to become curricular informants and take control of their choices of meaning making.

A method for the prediction of solder joint cycle life in surface‐mount assemblies is presented, based on the conversion of plastic solder shear strain into cycle life by means of an equation derived by Engelmaier. The paper introduces a different analytical procedure for the determination of solder joint shear strain. Shear strain is normally calculated from temperature and TCE differentials between package and interconnect board without consideration of elastic deformations. The suggested method derives average plastic shear strain of the solder joint at maximum temperature excursion from finite‐element analysis of a simple model consisting of an interconnect board, a solder joint and a package. All materials in the model have linear (elastic) properties, except solder which has non‐linear (elastic/plastic) characteristics. The solder stress/strain curve is described to the finite‐element programme with temperature‐dependent bilinear approximations. The solder joint is modelled as a single finite element so that only one value is computed for the plastic shear strain in the solder joint. This value represents the average shear strain which is converted into solder joint cycle life. The cycle life predictions with the finite‐element method are confirmed by cycling results obtained on actual hardware. The described method can serve as a design tool in the optimisation of surface‐mount assemblies. The procedure can help to define accelerated temperature cycling conditions.

The purpose of this paper is to understand business students' intention to behave ethically in general, and in particularly in the business context of a developing country, India.

The paper surveyed 250 final semester MBA students from different business schools in Indore city of Madhya Pradesh in India. The study employed the most popular behavioural theory, the Theory of Planned Behaviour (TPB) to understand the intention of business students to behave ethically. Structural equation modelling was used to analyse direct effects of the constructs on behavioural intention, and the overall model.

Findings revealed that attitude, subjective norm and perceived behavioural control are positively related and have strong influence on ethical behavioural intention of business students. All constructs together explain 67 percent variance in intention. Attitude alone contributes 46 percent in explaining variance in ethical behavioural intention.

Business ethics field can benefit from this study as it provides an empirical explanation of the contribution of each factor that is, attitude, subjective norms and perceived behavioural control, in ethical behavioural intention of business students. This is directly beneficial for business schools and for education policymakers as the information can help policymakers to understand the potential of existing business ethics education. This study is limited to a data set of 250 business students in the context of a single country which cannot be generalized. So, there is need for research of this type in a more collaborative international context.

To the best of my knowledge, this is the first study in the Indian context to predict the intention of business students to behave ethically, using the TPB model. This study contributes valuable knowledge to the domain of business ethics, behavioural studies as well the field of business education, and suggests to explore ways to strengthen the three constructs attitude, subjective norm and perceived behavioural control, as these constructs were found to have a strong influence in forming ethical behavioural intention of business students of business schools in India.

The biggest enlargement of the European Union (EU) took place in May 2004 when 10 new countries (Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia) joined the union, increasing the number of member states from 15 to 25. Of these newcomers, eight are former Eastern European countries with transition to Western-type market economies. These emerging markets provide increasingly growing investment opportunities and international diversification options for fund managers and individual investors. Well-known features of emerging equity markets are high returns, high volatility, and low correlation with developed markets. Bekaert and Harvey (2002) find that this correlation is on average increasing, particularly for those emerging markets that have liberalised their financial markets. Mateus (2004) finds similar results with EU access countries for recent years. Additional features of emerging markets are sparse data, low liquidity, and large price changes due to political changes or market crashes (e.g. Hwang & Pedersen, 2004).

Localization is a fundamental problem in wireless sensor networks. In many applications, sensor location information is critical for data processing and meaning. While the global positioning system (GPS) can be used to determine mote locations with meter precision, the high hardware cost and energy requirements of GPS receivers often prohibit the ubiquitous use of GPS for location estimates. This high cost (in terms of hardware price and energy consumption) of GPS has motivated researchers to develop localization protocols that determine mote locations based on cheap hardware and localization algorithms. The purpose of this paper is to present a comprehensive review of wireless sensor network localization techniques, and provide a detailed overview for several distance‐based localization algorithms.

To provide a detailed summary of wireless sensor network localization algorithms, the authors outline a tiered classification system in which they first classify algorithms as distributed, distributed‐centralized, or centralized. From this broad classification, the paper then further categorizes localization algorithms using their protocol techniques. By utilizing this classification system, the authors are able to provide a survey of several wireless sensor network localization algorithms and summarize relative algorithm performance based on the algorithms' classification.

There are numerous localization algorithms available and the performance of these algorithms is dependent on network configuration, environmental variables, and the ranging method implemented. When selecting a localization algorithm, it is important to understand basic algorithm operation and expected performance. This tier‐based algorithm classification system can be used to gain a high‐level understanding of algorithm performance and energy consumption based on known algorithm characteristics.

Localization is a widely researched field and given the quantity of localization algorithms that currently exist, it is impossible to present a complete review of every published algorithm. Instead, the paper presents a holistic view of the current state of localization research and a detailed review of ten representative distance‐based algorithms that have diverse characteristics and methods. This review presents a new classification structure that may help researchers understand, at a high‐level, the expected performance and energy consumption of algorithms not explicitly addressed by our work.

Understanding economic development in the transition economies of Central and Eastern Europe (CEE) requires an analysis of investment in these economies. Previous analyses, however, have focused primarily if not singularly on the role of foreign direct investment (FDI; Akbar & McBride, 2004; Clague & Rausser, 1992; Uhlenbruck & De Castro, 2000). This focus follows that of regional policy-makers, who heavily encouraged FDI through acquisition or greenfield investments (Frydman, Rapaczynski, & Earle, 1993). These policy-makers, however, additionally established stock exchanges in each of their countries. There are now at least 24 operating stock exchanges in CEE and the countries that previously made up the former Soviet Union and the former Yugoslavia.¹ The role of the development of these local stock exchanges in the development (LSED) of local economies (primarily through foreign portfolio investment) has not yet been systematically examined, nor has it been linked explicitly to the role of FDI. Finally, the role of local companies’ listings on foreign exchanges (FSEL) has not been examined in tandem with the role of FDI or LSED (for an examination of the relationship between FDI, LSED, and FSEL, however, see Claessens, Klingebiel, & Schmukler, 2001).

This paper aims to examine the nature and operations of the two main Ponzi schemes (DKM Diamond Micro Finance Company and Menzgold Company Limited). It explores how such dubious schemes were able to circumvent financial regulatory bodies and their impact on the social, political and economic spheres of Ghana.

The paper adopts both quantitative and qualitative research approaches and relies on secondary sources of data from the Bank of Ghana, World Bank and textbooks, etc.

It was found out that inadequate supervisory role by financial regulators was a factor that made these schemes thrive in Ghana which had dire consequences on the socio-economic of the country.

This is the first paper that explores the major Ponzi schemes in Ghana.