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Book part
Publication date: 18 January 2021

Marie Gitschthaler, Julia Kast, Rupert Corazza and Susanne Schwab

Even though the progress in creating inclusive learning environments varies across different countries, the implementation of inclusive education systems can clearly be considered…

Abstract

Even though the progress in creating inclusive learning environments varies across different countries, the implementation of inclusive education systems can clearly be considered a European shared policy goal. However, there is still a lack of both a clear definition of inclusive education and indicators on the provision of necessary resources in order to implement a high-quality inclusive school system. In the presented study, we aimed to shed light on how teachers who work at different schools in Austria perceive the resources provided to them in order to realize high-quality inclusive education. Furthermore, the study searched for factors, which influence teachers' subjective perception of resources, like years of work experience or the number of students in a classroom. To assess teachers' perception of resources, a revised version of the Perception of Resources Questionnaire (PRQ) developed by Goldan and Schwab (2018) was used focussing on three dimensions: human resources, material resources and spatial resources. The results generally indicate that teachers feel ambivalent or have a somewhat positive perception of available resources. In line with the Organization for Economic Cooperation and Development (OECD) principles of inclusive education ‘each according to his needs’, we argue that it is not possible to clarify what ‘adequate resources’ might be. The creation of an inclusive learning environment requires considerable effort, and the degree of pedagogical support should be decisive for the allocation of resources. This can only be evaluated if the main learning barriers for each student are identified.

Content available
Book part
Publication date: 18 January 2021

Abstract

Details

Resourcing Inclusive Education
Type: Book
ISBN: 978-1-80043-456-1

Article
Publication date: 14 May 2018

Ashlee Westerhold, Cory Walters, Kathleen Brooks, Monte Vandeveer, Jerry Volesky and Walter Schacht

The purpose of this paper is to empirically examine the financial outcomes from forage production and RI-PRF insurance interval for two locations in Nebraska. Both locations…

Abstract

Purpose

The purpose of this paper is to empirically examine the financial outcomes from forage production and RI-PRF insurance interval for two locations in Nebraska. Both locations provide historical forage production and precipitation data, allowing the authors to examine the relation between RI-PRF net income and forage production.

Design/methodology/approach

The authors focus on evaluating the producer net income and risk (measured as variance of net income) by examining the relation between farm precipitation and production and comparing multiple insurance intervals to no insurance. Each insurance interval will likely have a different relation (basis risk) between observed production and return from insurance and, therefore, a different impact on the variance of net incomes. The impact on variance of net incomes identifies the risk-reducing aspects of RI-PRF insurance intervals. The authors then rank each scenario into four mutually exclusive zones that describe the risk-reducing effectiveness and whether the subsidy is working correctly.

Findings

The authors found both risk increasing and decreasing insurance intervals exist at both locations. One insurance scenario (low in BBR) provided the highest net income while increasing risk, suggesting a profit maximizing opportunity. RI-PRF reduces net income risk with intervals insuring during high expected precipitation (growing season); while net income risk increases with intervals insuring low expected precipitation (non-growing season, winter months). The farmer would want to insure during the high expected precipitation months, which coincides with the growing season, since RI-PRF lowers the net income risk. For the government, removing net income risk increasing intervals improves the allocation of government resources.

Originality/value

In this paper, the authors modeled the relation between RI-PRF interval selection using the historical forage production data at two locations in Nebraska. The use of historical forage production data allowed the authors to precisely identify the risk-reducing effectiveness of RI-PRF interval selection.

Details

Agricultural Finance Review, vol. 78 no. 5
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 12 April 2023

Rahma Tahri, Mouna Boujelbéne, Khaled Hussainey and Sherif El-Halaby

The purpose of this paper is to construct an investment account holders' transparency and disclosure (IAH-T&D) index based on the new and revised accounting standard for…

Abstract

Purpose

The purpose of this paper is to construct an investment account holders' transparency and disclosure (IAH-T&D) index based on the new and revised accounting standard for investment accounts of the Accounting and Auditing Organization for Islamic Financial Institutions Standards (AAOIFI) (2020). It also aims to measure and compare the compliance level with IAH-T&D over years and between countries.

Design/methodology/approach

This study uses the content analysis method to analyze the content of 270 annual reports across 30 Islamic banks (IBs) in 10 Middle East and North Africa countries during the period from 2010 to 2019.

Findings

This study introduces a new IAH-T&D index which consists of 27 items representing four categories: investment accounts disclosure (11 items), incentive earnings disclosure (1 item), allocations and reserve disclosure (4 items) and general requirements for disclosure (11 items). The analysis shows that the level of IAH-T&D is 51%. The level of compliance varies over the years and across countries.

Originality/value

To the best of the authors’ knowledge, this is the first study that offers an original self-constructed-T&D index that could enhance future research related to determinants and consequences of IAH-T&D practice in IBs.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 5
Type: Research Article
ISSN: 1753-8394

Keywords

Book part
Publication date: 30 September 2014

Joachim Merz and Bettina Scherg

A growing polarization of society accompanied by an erosion of the middle class is receiving increasing attention in recent German economic and social policy discussion. Our study…

Abstract

A growing polarization of society accompanied by an erosion of the middle class is receiving increasing attention in recent German economic and social policy discussion. Our study contributes to this discussion in two ways: First, on a theoretical level we propose extended multidimensional polarization indices based on a constant elasticity of substitution (CES)-type well-being function and present a new measure to multidimensional polarization, the mean minimum polarization gap, 2DGAP. This polarization intensity measure provides transparency with regard to each single attribute, which is important for targeted policies, while at the same time respecting their interdependent relations. Second, in an empirical application, time is incorporated, in addition to the traditional income measure, as a fundamental resource for any activity. In particular, genuine personal leisure time will account for social participation in the sense of social inclusion/exclusion and Amartya Sen’s capability approach.

Instead of arbitrarily choosing the attribute parameters in the CES well-being function, the interdependent relations of time and income are evaluated by the German population. With the German Socio-Economic Panel (GSOEP) and detailed time use diary data from the German Time Use Surveys (GTUSs) 1991/1992 and 2001/2002, we quantify available and extended multidimensional polarization measures as well as our new approach to measuring the polarization of the working poor and affluent in Germany.

There are three prominent empirical results: Genuine personal leisure time in addition to income is an important and significant polarization attribute. Compensation is of economic and statistical significance. The new minimum 2DGAP approach reveals that multidimensional polarization increased in the 1990s in Germany.

Article
Publication date: 5 May 2015

Ron Weber, Wilm Fecke, Imke Moeller and Oliver Musshoff

Using cotton yield, and rainfall data from Tajikistan, the purpose of this paper is to investigate the magnitude of weather induced revenue losses in cotton production. Hereby the…

Abstract

Purpose

Using cotton yield, and rainfall data from Tajikistan, the purpose of this paper is to investigate the magnitude of weather induced revenue losses in cotton production. Hereby the authors look at different risk aggregation levels across political regions (meso-level). The authors then design weather index insurance products able to compensate revenue losses identified and analyze their risk reduction potential.

Design/methodology/approach

The authors design different weather insurance products based on put-options on a cumulated precipitation index. The insurance products are modeled for different inter-regional and intra-regional risk aggregation and risk coverage scenarios. In this attempt the authors deal with the common problem of developing countries in which yield data is often only available on an aggregate level, and weather data is only accessible for a low number of weather stations.

Findings

The authors find that it is feasible to design index-based weather insurance products on the meso-level with a considerable risk reduction potential against weather-induced revenue losses in cotton production. Furthermore, the authors find that risk reduction potential increases on the national level the more subregions are considered for the insurance product design. Moreover, risk reduction potential increases if the index insurance product applied is designed to compensate extreme weather events.

Practical implications

The findings suggest that index-based weather insurance products bear a large risk mitigation potential on an aggregate level. Hence, meso-level insurance should be recognized by institutions with a regional exposure to cost-related weather risks as part of their risk-management strategy.

Originality/value

The authors are the first to investigate the potential of weather index insurance for different risk aggregation levels in developing countries.

Details

Agricultural Finance Review, vol. 75 no. 1
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 6 July 2015

Niels Pelka, Oliver Musshoff and Ron Weber

Small-scale farmers in developing countries are undersupplied with capital. Although microfinance institutions (MFIs) have become well established in developing countries, they…

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Abstract

Purpose

Small-scale farmers in developing countries are undersupplied with capital. Although microfinance institutions (MFIs) have become well established in developing countries, they have not significantly extended their services to farmers. It is generally believed that this is partly due to the riskiness of lending to farmers. The purpose of this paper is to combine original data from a Madagascan MFI with weather data to estimate the effect of rainfall on the repayment performance of loans granted to farmers.

Design/methodology/approach

The basis of the empirical analysis is a unique data set of a commercial MFI in Madagascar and weather data provided by the German Meteorological Service. The repayment performance of loans granted to small-scale farmers is estimated using a two-step estimation approach based on linear probability models (LPMs) and a sequential logit model (SLM).

Findings

The results reveal that an excessive amount of rain in the harvest period of rice increases the credit risk of loans granted to small-scale farmers in Madagascar. Furthermore, the results confirm that credit features affect the repayment performance of loans.

Research limitations/implications

Since the returns from weather index-based insurance (at least as a future contract) are perfectly correlated with weather events, the authors can set the effect of weather events on the repayment performance of loans equal to the effect of the returns of weather index-based insurance on the repayment performance of loans. Thus, the results imply that weather index-based insurance might have the potential to mitigate a certain part of the risk in agricultural lending.

Practical implications

The focus and results of the present study are very relevant for MFIs, potential providers of weather index-based insurances as well as for farmers. The results confirm that weather events are a primary reason for the risk perception of lenders in developing countries toward small-scale farmers. Future research should, hence, concentrate on the development of index-based insurances in agricultural lending and consider interventions on different levels, e.g., insurance on the farm and the bank level.

Originality/value

To the knowledge, this is the first study that combines original loan repayment data from a Madagascan MFI with weather data in order to estimate the effect of weather events on the repayment performance of loans granted to farmers. Furthermore, to the knowledge, this is the first study that uses a two-step estimation approach based on LPMs and a SLM to investigate the repayment performance in agricultural lending.

Details

Agricultural Finance Review, vol. 75 no. 2
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 24 March 2021

Abdul Rashid, Assad Naim Nasimi and Rashid Naim Nasimi

The objective of this paper is threefold. First, it aims to empirically study whether firm-specific/idiosyncratic uncertainty, macroeconomic/aggregate uncertainty and political…

Abstract

Purpose

The objective of this paper is threefold. First, it aims to empirically study whether firm-specific/idiosyncratic uncertainty, macroeconomic/aggregate uncertainty and political uncertainty have an adverse influence on firms' investment decisions in Pakistan. After establishing this, it scrutinizes whether the uncertainty effects on investment are different for firms of different sizes. Finally, it investigates whether any heterogeneity exists in the uncertainty impacts across different industries.

Design/methodology/approach

The empirical analysis is based on an unbalanced panel data of 468 nonfinancial firms listed at the Pakistan Stock Exchange (PSX) during the period 2000–2018. Departing from the literature, the paper builds a time-varying composite volatility/uncertainty index based on the principal component analysis (PCA) by utilizing the constructed volatility series for sales, cash flows and return on assets to gauge firm-specific uncertainty for each firm included in the analysis. Likewise, the paper develops a PCA-based composite index for macroeconomic uncertainty by using the conditional variance series of consumer price index (CPI), industrial production index (IPI), the interest rate and the exchange rate obtained by estimating the (generalized) autoregressive conditional heteroscedastic, (G)ARCH, models. Finally, political uncertainty is measured by political risk components maintained by the Political Risk Services Group. The empirical framework of the paper augments the standard investment equation by incorporating all three types of uncertainty. Firms are grouped into small, medium and large categories based on firms' total assets and the size indicators are generated. Next, the indicators are multiplied by each uncertainty measure to quantify the differential effects of uncertainty across firm size. Firms are also differentiated by sectors to explore the sector-based asymmetries in the uncertainty effects. The “robust two-step system generalized method of moments (2SYS GMM) (dynamic panel data) estimator” is applied to estimate the empirical models.

Findings

The results provide robust and strong evidence of the detrimental influence of all three types of uncertainty on investment. Yet, it is observed that the strength of the influence considerably varies across uncertainty types. In particular, compared to firm-specific uncertainty, both macroeconomic and political uncertainties have more unfavorable effects. The analysis also reveals that the effects of all three types of uncertainty are quite different at small, medium and large firms. Specifically, it is observed that although the investment of all firms is influenced adversely by magnified uncertainty, the adverse effects of all three kinds of uncertainty are quite stronger at small firms than medium and large firms. These findings support the phenomenon of size-based asymmetries in the effects of uncertainty on investment. The results also provide evidence that either type of uncertainty quite differently affects the investment policy of firms in different sectors.

Practical implications

The findings help different stakeholders to know how different types of uncertainty differently affect corporate firms' investments. Further, they suggest that firm size has a vital role in ascertaining the adverse effects of uncertainty on investment. The paper identifies to which type of uncertainty investors and policymakers should care more about and to which types of firms and industries they should concern more during volatile times. Firms should have more fixed assets and expand their size to mitigate the detrimental effects on investment of internal and external uncertainties. The government should enhance the political stability to induce firms for a higher level of investment, which, in turn, will result in higher growth of the economy.

Originality/value

The originality of the paper is credited to four aspects. First, unlike most previous studies that have utilized a single volatility measure, this paper constructs composite uncertainty indices based on the weights determined by the PCA. Second, it examines the effect of political uncertainty over and above the effects of idiosyncratic and aggregate (macroeconomic uncertainty) for an emerging economy. Third, and most important, it provides first-hand empirical evidence on the role of firm size in establishing the asymmetric effects of uncertainty on investment. Finally, it provides evidence on the industry-based heterogeneity in the uncertainty effects.

Details

International Journal of Emerging Markets, vol. 17 no. 10
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 February 2022

Neha Chhabra Roy and N.G. Roy

This study aims to identify and gauge the sustainability indicators (SUSIs) for sustainable Hydroelectric Power (HEP) project development. It examines major SUSIs under the…

Abstract

Purpose

This study aims to identify and gauge the sustainability indicators (SUSIs) for sustainable Hydroelectric Power (HEP) project development. It examines major SUSIs under the social, economic and environmental (SEE) fronts and categorizes them under push and pull impacts which helps to identify challenges and opportunities associated with projects. Additionally, the study calculates an empirical sustainability index (SI) to assess the sustainability level of HEP. Finally, the study suggests mitigation measures across stakeholders, which will optimize government/developer/investor investments.

Design/methodology/approach

This paper examines the interaction of sustainable HEP development with SUSIs using Uttarakhand as a study area. Additionally, SI has been developed quantitatively. For the indicator classification, the authors conducted a literature review and secondary survey of all affected parties, including investors, developers, NGOs and villagers. The fuzzy logic theory (FLT) is used to determine the SI of the study area and classify projects in their level of sustainability. On the basis of expert opinion and literature review, mitigation measures are proposed across stakeholders.

Findings

The authors found that there is a mixed effect of SUSIs on HEP development across various projects in Uttarakhand. Furthermore, the authors suggest that index-based assessment and planned collaboration play a significant role in sustainable HEP development. Mitigation measures should be suggested to all affected stakeholders based on specific project issues, i.e. collaborations, training, public awareness campaigns, and initiatives by the government that would improve sustainability conditions.

Research limitations/implications

In addition to supporting the ongoing and upcoming initiatives launched by the Government of India, including the Green Energy Corridor, independent power producers (IPPs); and the India-Renewable Resources Development Project with IDA and participates in Net zero target.

Practical implications

The structured, sustainable HEP planning suggested in the study will help to conserve society, economy, save resources and in parallel reduce the cost and time of developers and policymakers. This will also help to improve the socioeconomic status of the villagers and prolong the life of the project.

Originality/value

The innovative SI-based push-pull approach identifies a sustainable HEP project planning.

Details

Built Environment Project and Asset Management, vol. 12 no. 3
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 5 May 2015

Roberto Dario Bacchini and Daniel Fernando Miguez

Based on the Normalized Difference Vegetation Index (NDVI)-based insurance developed by the Ministry of Agriculture, Livestock and Fisheries of Argentina (MAGyP) with technical…

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Abstract

Purpose

Based on the Normalized Difference Vegetation Index (NDVI)-based insurance developed by the Ministry of Agriculture, Livestock and Fisheries of Argentina (MAGyP) with technical assistance of the World Bank (WB), the purpose of this paper is to evaluate the out-of-sample performance of the NDVI-based insurance in Bahía Blanca Department of the south west of Buenos Aires (SWBA) Province in Argentina, by calculating the technical premium with the methodology developed by MAGyP-WB and NDVI information up to 2007, and analyzing the results that would have been obtained in 2008 and 2009.

Design/methodology/approach

With the available NDVI information (1982-2009), the authors uses the out-of-sample method to analyze the rating of the contract and the reasonability of the premium payment through a comparison of the frequency and severity of payouts in the NDVI coverage with the losses suffered by droughts in SWBA. Specifically, it has been taken the data until 2006 to set the Triggers and Exits values and to calculate the premium rates, and the payout and loss ratio in 2007 was then analyzed. A similar analysis was done for years 2007-2008 and 2008-2009.

Findings

According with the rating methodology described in this paper, payouts determined by the NDVI-based insurance fit with falls in forage production and reduced meat production yields, which confers reasonability to this tool as a coverage option for cattle and fodder producers. Definite technical premiums based on 1982-2007 period, capture the occurrence of severe drought events, defining a risk profile that is consistent with the used information. Adding more observations to the sample, this profile is redefined, showing the sensitivity of the results to the quality and quantity of data used in the analysis.

Research limitations/implications

There is a subjective assessment in the determination of the sample and the weighting of this information. The election of the period to be considered, how to incorporate the changes in the patterns of climate behavior in the medium- and long-term and the expected effects in the NDVI, etc. will impact on the values of resulting technical premiums. In the specific case of this analysis, the fact of not having considered in the sample two extreme years (2008 and 2009) has a concrete implication in the obtained premiums. In this paper, only the Bahía Blanca Department was considered. Rainfall pattern and extensive grazing of natural grassland in the SWBA area might vary from Department to Department, so the results and payouts might change according to these circumstances.

Practical implications

The situation shown in the findings could be seen as an underestimation of the risk to which the producer is exposed and should be taken into account for further researches and insurance products to be designed. When the considered data series shows atypical or extreme values and these are incorporated into the sample, significant changes can be registered in the triggers and premiums.

Originality/value

This paper analyzes how a risk profile is redefined depending on the sample considered and shows the sensitivity of the results to used data when using index-based insurance.

Details

Agricultural Finance Review, vol. 75 no. 1
Type: Research Article
ISSN: 0002-1466

Keywords

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