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Academy of IRMBR Volume  3, April, 2015
Move your mouse curser on the title to view the abstract of the paper
S.No. Title Authors Pages Download
The Birth of a Political Activist: A Comparison of Two South Korean Films
There exist a number of explanations for democratization. One of the most decisive causes of South Korea’s recent democratization in 1987 was mass movements from below. The role of political activists is integral to movements. In this article, pointing out that the existing literature on democratization has paid little attention to the contribution of individual activists to social movements, I analyzed how ordinary citizens were gradually transformed into political activists and democracy fighters. Specifically, I compared two South Korean films, Jeon Tae-il: A Single Spark (1995) and The Attorney (2013), in terms of what motivates common people to change into activists, the concrete process of the change, and the consequences of the change for subsequent political development. Key Words: South Korea, Democratization, Political Activists, Mass Movements, Films.
CHRISTOPHER I. KIM 139-146 Download(462)
Impact of Neighborhood Characteristics on Residential Property Values: A Critical Review of Literature
Neighborhood is a geographical unit within which given social affinities exist, even though the degree of their association and its significant to the lives of inhabitants differ greatly. The attributes of neighborhood which comprises both amenities and disamenities is a significant factor in house price determination due to its spatial linkage to the housing market. The aim of this paper is to critically review empirical literature on the impact of neighborhood characteristics on residential property values. Documentary data collected from various secondary sources were studied and carefully reviewed. Results obtained from the literature suggested that both neighborhood amenities and disamenities play very significant roles in the built up to the formation of residential housing prices. The uses of few explanatory variables were found to be dominant in the discussion of neighborhood characteristics that affect property prices/values. The study therefore suggest the use of many explanatory neighborhood variables to justifiably estimate the impact of neighborhood characteristics on residential property prices/values as this could also avoid omitted variable bias. Key Words: Neighborhood Attributes, Effects, House, Prices, Amenities, Disamenities.
USMAN MUSA and WAN ZAHARI WAN YUSOFF 147-155 Download(332)
Impact of Oil and Gas Prices on Stock Returns: Evidence from Pakistan’s Energy Intensive Industries
Recent hikes in oil prices have increased the concerns of policy makers to find the factors that drive them, and the factors that are affected by them. Previous studies have shown that high oil prices adversely influenced the macroeconomy and firm’s profit where oil is consumed as an input. This study examined the impact of oil and gas prices on the stock returns of energy intensive industries of Pakistan. To conduct the study quarterly data of 3 energy intensive industries, namely chemicals, fertilizer, and textile were obtained for the period of January, 2009-December, 2013. Based on the multifactor model and panel regression analysis, the findings indicated that oil price changes had a negative impact on the stock returns of chemicals, and textile, whereas the gas price factor was significant only in the case of textile. Furthermore, a significant impact of stock market index returns was observed on the stock returns of each industry. Finally, the general analysis1 was conducted; its findings showed that oil prices, gas prices, exchange rate, and interest rate had a negative impact on the stock returns. However, the impact of stock market index returns was significant with the positive coefficient. The findings of this study suggest that the investors should keep an eye on the changes of oil and gas prices in order to make sound investment portfolios in Pakistan. Also, the policy makers and management of those industries should make effective plans to reduce their fuel costs. Key Words: Oil Price, Energy Intensive Industry, Gas Price, Multifactor Model, Panel Regression.
RABIA ARSHAD and ADNAN BASHIR 156-168 Download(341)
Hydro-Geomorphological Implications of Uncontrolled Settlements in Limbe, Cameroon
The proliferation of uncontrolled settlements in the coastal town of Limbe in the wake of rapid urbanization, rainfall variability and sea level rise, interplay to increase the frequency and intensity of hydrological and geomorphological problems like landslides, accelerated erosion, gully formation, floods, tidal inundation, sea incursions and sedimentation. How the sustained spread of uncontrolled settlements in different ecologically fragile terrain of Limbe has aggravated these hydro-geomorphological problems and their associated impacts within the context of current environmental changes constitute the focus of the study. Data was collected from primary and secondary sources and analysed qualitatively. Findings reveal that uncontrolled settlements in Limbe are more exposed and the hardest hit by hydro-geomorphological problems within the context of increasing rainfall variability, sea level rise, their hazard-prone locations and their fragile, substandard physical infrastructures. There is need for structural and non-structural strategies by the municipal authorities, the technical government departments and residents to be collectively involved in the sustained development of such uncontrolled settlements. Awareness should be raised on the occurrence, adaptation and mitigation of hydro-geomorphological hazards through disaster management. The study also makes a clarion call for the improvement in land and housing access, resettlement projects and proper land use planning as a precursor for environmental stability and sustainable urban growth in Limbe. Key Words: Urbanisation, Uncontrolled Settlements, Hydro-Geomorphological Problems/Hazards, Land Use Planning, Disaster/Emergency Management, Limbe.

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