On intellectual capital efficiency and shariah governance in Islamic banking business model

This paper empirically investigates whether intellectual capital (IC) and shariah governance jointly affect the economic performance of Islamic banks (IBs). In contrast to prior research, this paper disaggregate IC and corporate governance features and examine whether the two are jointly related to economic performance. These relationships are further explored before, during and after the financial crisis based on a sample of 64 Islamic banks operating in different regions during the period 2007–2014. The required data to calculate different constituents of IC efficiency and governance mechanism is hand collected from 512 annual reports. After controlling for other corporate governance and bank‐specific characteristics (operational type, bank size, listing status, risk, type of auditor, accounting standard and region), we find both intellectual capital efficiency and shariah governance proxies (size and dominance of prominent scholars of shariah supervisory board) to have a significant positive relationship with accounting measure of performance. However, based on market performance measure, only one proxy for shariah governance mechanism, that is, prominent scholars on SSB, is found to be significant but in the negative direction. These results provide important insights into the relationship between IC efficiency, corporate governance and performance in Islamic banking business model and have policy and practical implications

Identification and Phylogenetic Analysis of Tityus pachyurus and Tityus obscurus Novel Putative Na+-Channel Scorpion Toxins

Background: Colombia and Brazil are affected by severe cases of scorpionism. In Colombia the most dangerous accidents are caused by Tityus pachyurus that is widely distributed around this country. In the Brazilian Amazonian region scorpion stings are a common event caused by Tityus obscurus. The main objective of this work was to perform the molecular cloning of the putative Na+-channel scorpion toxins (NaScTxs) from T. pachyurus and T. obscurus venom glands and to analyze their phylogenetic relationship with other known NaScTxs from Tityus species. Methodology/Principal Findings: cDNA libraries from venom glands of these two species were constructed and five nucleotide sequences from T. pachyurus were identified as putative modulators of Na+-channels, and were named Tpa4, Tpa5, Tpa6, Tpa7 and Tpa8; the latter being the first anti-insect excitatory b-class NaScTx in Tityus scorpion venom to be described. Fifteen sequences from T. obscurus were identified as putative NaScTxs, among which three had been previously described, and the others were named To4 to To15. The peptides Tpa4, Tpa5, Tpa6, To6, To7, To9, To10 and To14 are closely related to the a-class NaScTxs, whereas Tpa7, Tpa8, To4, To8, To12 and To15 sequences are more related to the b-class NaScTxs. To5 is possibly an arthropod specific toxin. To11 and To13 share sequence similarities with both a and b NaScTxs. By means of phylogenetic analysis using the Maximum Parsimony method and the known NaScTxs from Tityus species, these toxins were clustered into 14 distinct groups. Conclusions/Significance: This communication describes new putative NaScTxs from T. pachyurus and T. obscurus and their phylogenetic analysis. The results indicate clear geographic separation between scorpions of Tityus genus inhabiting the Amazonian and Mountain Andes regions and those distributed over the Southern of the Amazonian rainforest. Based on the consensus sequences for the different clusters, a new nomenclature for the NaScTxs is proposed

The Antibody Targeting the E314 Peptide of Human Kv1.3 Pore Region Serves as a Novel, Potent and Specific Channel Blocker

Selective blockade of Kv1.3 channels in effector memory T (TEM) cells was validated to ameliorate autoimmune or autoimmune-associated diseases. We generated the antibody directed against one peptide of human Kv1.3 (hKv1.3) extracellular loop as a novel and possible Kv1.3 blocker. One peptide of hKv1.3 extracellular loop E3 containing 14 amino acids (E314) was chosen as an antigenic determinant to generate the E314 antibody. The E314 antibody specifically recognized 63.8KD protein stably expressed in hKv1.3-HEK 293 cell lines, whereas it did not recognize or cross-react to human Kv1.1(hKv1.1), Kv1.2(hKv1.2), Kv1.4(hKv1.4), Kv1.5(hKv1.5), KCa3.1(hKCa3.1), HERG, hKCNQ1/hKCNE1, Nav1.5 and Cav1.2 proteins stably expressed in HEK 293 cell lines or in human atrial or ventricular myocytes by Western blotting analysis and immunostaining detection. By the technique of whole-cell patch clamp, the E314 antibody was shown to have a directly inhibitory effect on hKv1.3 currents expressed in HEK 293 or Jurkat T cells and the inhibition showed a concentration-dependence. However, it exerted no significant difference on hKv1.1, hKv1.2, hKv1.4, hKv1.5, hKCa3.1, HERG, hKCNQ1/hKCNE1, L-type Ca2+ or voltage-gated Na+ currents. The present study demonstrates that the antibody targeting the E314 peptide of hKv1.3 pore region could be a novel, potent and specific hKv1.3 blocker without affecting a variety of closely related Kv1 channels, KCa3.1 channels and functional cardiac ion channels underlying central nervous systerm (CNS) disorders or drug-acquired arrhythmias, which is required as a safe clinic-promising channel blocker

The Inter-temporal relationship between Risk, Capital and Efficiency: The case of Islamic and conventional banks

The paper investigates the relationship between risk, capital and efficiency for Islamic and conventional banks using a dataset spanning 14 countries over the 2000-2012 period. We use the z-score as a proxy for insolvency risk, cost efficiency is estimated via a stochastic frontier approach and capitalisation is reflected on the equity to assets ratio. An array of bank-specific, macroeconomic and market structure variables are used in a system of three equations, estimated using the seemingly unrelated regression (SUR) technique. We find that the capitalisation response to increases in insolvency risk is more pronounced for Islamic banks but has an approximately five-times smaller effect on risk mitigation compared to conventional banks. Higher cost efficiency is related to lower risk for conventional banks, but the opposite is true for Islamic banks. The link between cost efficiency and capitalisation attests to a substitutional effect for the case of conventional banks, but a complementary effect for Islamic banks. Our findings give new insights on the use of efficiency to gauge capital requirements for financial institutions and are particularly relevant for regulators and policy makers in countries where both bank types operate

Coupled Analytical-Finite Element Methods for Linear Electromagnetic Actuator Analysis

In this paper, a linear electromagnetic actuator with moving parts is analyzed. The movement is considered through the modification of boundary conditions only using coupled analytical and finite element analysis. In order to evaluate the dynamic performance of the device, the coupling between electric, magnetic and mechanical phenomena is established. The displacement of the moving parts and the inductor current are determined when the device is supplied by capacitor discharge voltage

ANALYSIS OF INDUCTION MOTOR WITH BROKEN BARS AND CONSTANT SPEED USING CIRCUIT-FIELD COUPLED METHOD

The paper presents the use of the two-dimensional finite element method for modeling the three-phase squirrel-cage induction motor by using circuit coupled method. In order to analyze the machine performances, the voltage source is considered. The Ansys magnetic analysis software is used for calculating the magnetic field of an induction motor having a cage fault. The experimental results prove that the proposed approach constitutes a useful tool for the study and diagnostics of induction motors.</p

Rollover risk prediction of heavy vehicle using high order sliding mode observer: experimental results

In this paper, an original method about heavy vehicles rollover risk prediction is presented and validated experimentally. It is based on the calculation of the LTR (Load Transfer Ratio) which depends on the estimated vertical forces using high order sliding mode observers. Previously, a tractor model is developed. The validation tests were carried out on an instrumented tractor rolling on the road at various speeds and lane-change manoeuvres. Many scenarios have been experienced: driving on straight line, curve line, zigzag and brake tests to emphasize the rollover phenomenon and its prediction to set off an alarm to the driver. In this study, the vehicle dynamic parameters (Masses, Inertias, stiffness..) and the static forces infrastructure characteristics (road profile, radius of curvature, longitudinal and lateral slope, skid resistance) are measured or calculated before the tests

Rollover risk prediction of an instrumented heavy vehicle using high order sliding mode observer

In this paper, an original method about heavy vehicles rollover risk prediction is presented and validated experimentally. It is based on the calculation of the LTR (Load Transfer Ratio) which depends on the estimated vertical forces using high order sliding mode observers. The validation tests were carried out on an instrumented truck rolling on the road at various speeds and lane-change manoeuvres. Many scenarios have been experienced : driving on straight line, curve line and zigzag to emphasize the rollover phenomenon and its prediction to set off an alarm to the driver

INFLUENCE OF BROKEN ROTOR BARS LOCATION IN THE SQUIRREL CAGE INDUCTION MOTOR USING FINITE ELEMENT METHOD

It is well known that the number of broken bars and varying load affect on the amplitudes of specific harmonic components in the process analysis of induction motors under broken rotor bars. The location of broken bars is an important factor which affects the diagnosis of the broken bars defect. In this paper the simulation is determinate for different cases for distribution of broken bars under induction motor pole in order to show the impact of broken bars location upon the amplitude of harmonic fault. The simulation results are obtained by using time stepping finite elements (TSFE) method. The geometrical characteristics of motor, the effects of slotting and the magnetic saturation of lamination core are included in induction motor model

INFLUENCE OF BROKEN ROTOR BARS LOCATION IN THE SQUIRREL CAGE INDUCTION MOTOR USING FINITE ELEMENT METHOD

It is well known that the number of broken bars and varying load affect on the amplitudes of specific harmonic components  in the process analysis of induction motors under broken rotor bars. The location of broken bars is an important factor which affects the diagnosis of the broken bars defect. In this paper the simulation is determinate for different cases for distribution of broken bars under induction motor pole in order to show the impact of broken bars location upon the amplitude of harmonic fault. The simulation results are obtained by using time stepping finite elements (TSFE) method. The geometrical characteristics of motor, the effects of slotting and the magnetic saturation of lamination core are included in induction motor model