Pension System Reform: Factors That Have Driven and Necessitated the Pension Dynamics Globally

Technological and medical advancement globally in recent times has led to an increase in the life expectancy and research shows that there will be a further increase in the coming years. And increase in the life expectancy ratio poses a threat to the pension systems of an economy. The world has experience a global pension system crisis due to the increasing aging populations hence a high old dependency ratio. The global pension systems was generated by factors such as increase in older population, inadequate savings for retirement in old age and increase in unfunded pension liabilities. There have been moves by the various governments to adopt measures to mitigate the rise in the pension costs within their countries. This paper discusses in details the factors that have driven and necessitated the pension system reform dynamics at the global stage. Keywords: elderly poverty, pension system reform, old age crisi

A Review of Pension System Reform: An In-Depth Analysis on Related Theories

The literature on pension reform is increasingly growing examining different aspects of pension matters including but not limited to the nature, types of classifications, effects, challenges and prospects of pension reforms. The importance of pension reforms is credited to its potential to guarantee a sustainable pension scheme that provides with a decent life to pensioners and their dependents. This research gives a detailed analysis on pension reform theories such as economic theory, multi-pillar model by the World Bank, theory of utility and preferences and life cycle theories. It further discusses the three retirement decision models: two-thirds retirement decision model, the option value retirement decision model and one-year retirement decision model used in explaining various decisions relating to retirement and also the forms of retirement benefits payments. Finally, it discusses the four approaches by which pension reforms can be analyzed. Key words: pension reform, retirement decisions, pensioner benefits, pension syste

Forecasting Optimal Solar Energy Supply in Jiangsu Province (China): A Systematic Approach Using Hybrid of Weather and Energy Forecast Models

The idea of aggregating information is clearly recognizable in the daily lives of all entities whether as individuals or as a group, since time immemorial corporate organizations, governments, and individuals as economic agents aggregate information to formulate decisions. Energy planning represents an investment-decision problem where information needs to be aggregated from credible sources to predict both demand and supply of energy. To do this there are varying methods ranging from the use of portfolio theory to managing risk and maximizing portfolio performance under a variety of unpredictable economic outcomes. The future demand for energy and need to use solar energy in order to avoid future energy crisis in Jiangsu province in China require energy planners in the province to abandon their reliance on traditional, “least-cost,” and stand-alone technology cost estimates and instead evaluate conventional and renewable energy supply on the basis of a hybrid of optimization models in order to ensure effective and reliable supply. Our task in this research is to propose measures towards addressing optimal solar energy forecasting by employing a systematic optimization approach based on a hybrid of weather and energy forecast models. After giving an overview of the sustainable energy issues in China, we have reviewed and classified the various models that existing studies have used to predict the influences of the weather influences and the output of solar energy production units. Further, we evaluate the performance of an exemplary ensemble model which combines the forecast output of two popular statistical prediction methods using a dynamic weighting factor

Complementarity of Clinician Judgment and Evidence Based Models in Medical Decision Making: Antecedents, Prospects, and Challenges

Early accounts of the development of modern medicine suggest that the clinical skills, scientific competence, and doctors’ judgment were the main impetus for treatment decision, diagnosis, prognosis, therapy assessment, and medical progress. Yet, clinician judgment has its own critics and is sometimes harshly described as notoriously fallacious and an irrational and unfathomable black box with little transparency. With the rise of contemporary medical research, the reputation of clinician judgment has undergone significant reformation in the last century as its fallacious aspects are increasingly emphasized relative to the evidence based options. Within the last decade, however, medical forecasting literature has seen tremendous change and new understanding is emerging on best ways of sharing medical information to complement the evidence based medicine practices. This review revisits and highlights the core debate on clinical judgments and its interrelations with evidence based medicine. It outlines the key empirical results of clinician judgments relative to evidence based models and identifies its key strengths and prospects, the key limitations and conditions for the effective use of clinician judgment, and the extent to which it can be optimized and professionalized for medical use

Evaluation of health resource utilization efficiency in community health centers of Jiangsu Province, China

Abstract Background While the demand for health services keep escalating at the grass roots or rural areas of China, a substantial portion of healthcare resources remain stagnant in the more developed cities and this has entrenched health inequity in many parts of China. At its conception, China’s Deepen Medical Reform started in 2012 was intended to flush out possible disparities and promote a more equitable and efficient distribution of healthcare resources. Nearly half a decade of this reform, there are uncertainties as to whether the attainment of the objectives of the reform is in sight. Methods Using a hybrid of panel data analysis and an augmented data envelopment analysis (DEA), we model human resources, material, finance to determine their technical and scale efficiency to comprehensively evaluate the transverse and longitudinal allocation efficiency of community health resources in Jiangsu Province. Results We observed that the Deepen Medical Reform in China has led to an increase concern to ensure efficient allocation of community health resources by health policy makers in the province. This has led to greater efficiency in health resource allocation in Jiangsu in general but serious regional or municipal disparities still exist. Using the DEA model, we note that the output from the Community Health Centers does not commensurate with the substantial resources (human resources, materials, and financial) invested in them. We further observe that the case is worst in less-developed Northern parts of Jiangsu Province. Conclusions The government of Jiangsu Province could improve the efficiency of health resource allocation by improving the community health service system, rationalizing the allocation of health personnel, optimizing the allocation of material resources, and enhancing the level of health of financial resource allocation

Beyond COVID-19 Pandemic: An Integrative Review of Global Health Crisis Influencing the Evolution and Practice of Corporate Social Responsibility

Background: Global health crisis continues to drive the dynamics of corporate social responsibility (CSR) across industries with self-perpetuating momentum. From a historical point of view, more than a century of immense corporate fecundity has formed the ecological conditions and shaped current understanding of the effect of public health on CSR. This study sought to examine the extent to which companies are able to balance their business interest with social interest through health-related CSR and how knowledge of them can help explain the potential impact of COVID-19. Method: This study employs a narrative review of current literature; however, the integrative strategy was combined with the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) checklist to rigorously select the necessary articles for proper integrative synthesis. Results: We note that in the pursuit of their social responsibility, corporate enterprises struggle to balance the interest of society and their own interest. Genuine CSR activities such as donations are often undermined by unbridled and excessive desire to draw society on themselves to reap economic benefits are largely dominated by the need to advance. There are signals that enterprises might see COVID-19-related CSR as an entry door to increase corporate influence thereby commercializing the pandemic. Conclusions: The impact of COVID-19 on CSR is epochal. There is a moral obligation for enterprises to reform current risk assessments and collaborate more deeply with state agencies to invest in the health and safety inspections at the world place. CSR strategies must be proactive to endure other unknown pandemics with equal capacity to disrupt business operations. Companies must create innovative and regular activities to educate its stakeholders to become more committed to safeguarding future enterprise-based defense mechanism needed to diagnose, protect, treat, and rehabilitate victims and those threatened by pandemics and other emergencies that affect the stability of an organization to reduce its cost and protect revenue

Towards an equitable healthcare in China: evaluating the productive efficiency of community health centers in Jiangsu Province

Abstract Background While the demand for the health service keeps escalating at the grass root or rural areas of China, a substantial portion of healthcare resources remains stagnant in the more developed cities and this has entrenched health inequity in many parts of China. At its conception, the Deepening Health Care Reform in 2012 China was intended to flush out these discrepancies and promote a more equitable and efficient distribution of health resources. Nearly half a decade of this reform, there are uncertainties as to whether the attainment of the objectives of the reform is in sight. Methods We divided Jiangsu Province into 3 zones according to the level of economic and social development i.e. developed, developing, and undeveloped areas. Using a hybrid of Panel data analysis and an augmented Data Envelopment Analysis (DEA), we model human resources, capital inputs of Community Health Centers to comprehensively determine the technical and scale efficiency of community health resources in 3 zones in Jiangsu Province. Results We sampled data and analysed efficiency and productivity growth of 75 Community Health Centers in 13 cities of Jiangsu Province from 2011 to 2015, which shows that a significant productive growth among Community Health Centers between 2011 and 2015. Mirroring the behavior of Community Health Centers, technological progress was the underlying force for the growth and the deterioration in efficiency change was found. This can be credited partly to the Deepening Health Care Reform measures aimed at improving technology availability in health centers in sub-urban areas. The regional summary of the DEA result shows that the stage of economic development and the efficiency performance of hospital did not necessarily go hand in hand among the 3 zones of Jiangsu. Conclusions The government of China in general and Jiangsu province in particular could improve the efficiency of health resources allocation by improving the community health service system, rationalizing the allocation of health personnel, optimizing the allocation of material resources and enhancing the level of health of financial resources allocation

A Multi-Attribute Assisted Performance Deduction and Related Value in Triple Helix Innovation Networks

Typically, Triple Helix relations, between, Higher Education Institutions, Governments and Industry(s) are inferred from patents and research output. Systemic determination of the relationship is because of observations over a period. It is, however, possible to analyze this relation from a system present from the word-go. This then allows for the interaction to be analyzed on the basis of performance and logically gains for participation by all the agents. Several models have been proposed to deduce the Triple Helix Relation and these hold. This paper has however introduced a new dimension to the analysis, by viewing participation from an investor point of view with decision making being of a complex and deductive nature based on the performance of higher education systems or institutions. The TOPSIS supported performance deductions helps synthesis decision solutions that facilitates value determination of performance and its resultant impact on investment gains. Possible future implications for this, are also provide