World Academy of Science, Engineering and Technology

Authors: Feng-Hisang Lai

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CFD(Computational Fluid Dynamics) is conducted to numerically study the flow and heat transfer features of a two-pole, 6,080HP, 60Hz, 3,150V open drip-proof (ODP) motor. The stator and rotor cores in this high voltage induction motor are segmented with the use of spacers for cooling purposes, which leads to difficulties in meshing when the entire system is to be simulated. The system is divided into 4 parts, meshed separately and then combined using interfaces. The deviation between the CFD and experimental results in temperature and flow rate is less than 10%. The internal flow is further examined and a final design is proposed to reduce the winding temperature by 10 degrees.

Keywords: CFD, open drip proof, induction motor, cooling

Procedia PDF Downloads 192

Authors: Najlae Bendou, Jean-Jacques Lilti, Khalid Elbadraoui

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In this paper, we examine stock market integration of emerging markets around the global financial turmoil of 2007-2008. Following Pukthuanthong and Roll (2009), we measure the integration of 46 emerging countries using the adjusted R-square from the regression of each country's daily index returns on global factors extracted from the covariance matrix computed using dollar-denominated daily index returns of 17 developed countries. Our sample surrounds the global financial crisis and ranges between 2000 and 2018. We analyze results using four cohorts of emerging countries: East Asia & Pacific and South Asia, Europe & Central Asia, Latin America & Caribbean, Middle East & Africa. We find that the level of integration of emerging countries increases at the commencement of the crisis and during the booming phase of the business cycles. It reaches a maximum point in the middle of the crisis and then tends to revert to its pre-crisis level. This pattern tends to be common among the four geographic zones investigated in this study. Finally, we investigate the determinants of stock market integration of emerging countries in our sample using panel regressions. Our results suggest that the degree of stock market integration of these countries should be put into perspective by some macro-economic factors, such as the size of the equity market, school enrollment rate, international liquidity level, stocks traded volume, tax revenue level, imports and exports volumes.

Keywords: correlations, determinants of integration, diversification, emerging markets, financial crisis, integration, markets co-movement, panel regressions, r-square, stock markets

Procedia PDF Downloads 179

Authors: Mustofa Mahmud Al Mamun

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Government spending, one of the major components of gross domestic product (GDP), is composed of government consumption, investment, and transfer payments. A change in government spending during recessionary periods can generate an increase in GDP greater than the increase in spending. This is called the "multiplier effect". Accurate estimation of government spending multiplier is important because fiscal policy has been used to stimulate a flagging economy. Many recent studies have focused on identifying parts of the economy that responds more to a stimulus under a variety of circumstances. This paper used the US dataset from 1966 to 2020 and local projection method assuming standard identification strategy to estimate the multipliers. The model includes important macroaggregates and controls for forecasted government spending, interest rate, consumer price index (CPI), export, import, and level of public debt. Investment multipliers are found to be positive and larger than the consumption multipliers. Consumption multipliers are either negative or not significantly different than zero. Results do not vary across the business cycle. However, the consumption multiplier estimated from pre-1980 data is positive.

Keywords: business cycle, consumption multipliers, forecasted government spending, investment multipliers, local projection method, zero lower bound

Procedia PDF Downloads 228

Authors: Tonny Ograh, Joshua Ayarkwa, Dickson Osei-Asibey, Alex Acheampong, Peter Amoah

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Theories are used to improve the conceptualization of research ideas. These theories enhance valuable elucidations that help us to grasp the meaning of research findings. Nevertheless, the use of theories to promote studies in green supplier selection in procurement decisions has attracted little attention. With the emergence of sustainable procurement, public procurement practitioners in Ghana are yet to achieve relevant knowledge on green supplier selections due to insufficient knowledge and inadequate appropriate frameworks. The flagrancy of the consequences of public procurers’ failure to integrate environmental considerations into supplier selection explains the adoption of a multi-theory approach for comprehension of the dynamics of green integration into supplier selection. In this paper, the practicality of three theories for improving the understanding of the influential factors enhancing the integration of environmental sustainability into supplier selection was reviewed. The three theories are Resource-Based Theory, Human Capital Theory and Absorptive Capacity Theory. This review uncovered knowledge management, top management commitment, and environmental management capabilities as important elements needed for the integration of environmental sustainability into supplier selection in public procurement. The theoretical review yielded a framework that conceptualizes knowledge and capabilities of practitioners relevant to the incorporation of environmental sustainability into supplier selection in public procurement.

Keywords: environmental, sustainability, supplier selection, environmental procurement, sustainable procurement

Procedia PDF Downloads 173

Authors: Mohammed Murtuza Soofi

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Purpose: Marketers and Researchers alike have simultaneously, yet in mutually exclusive instances, promote the use of humour by brands in their communication and gendering of brands, as both enhance brand equity and can generate positive attitudinal responses from customers. However, the gendering of brands comes with associated gendered stereotypical expectations. The current paper consolidates the long standing literature on gender role/stereotype theory and brand gender theories establishing a theoretical framework for understanding how gender-based stereotypes about humour can influence consumers’ attitudinal responses towards brands. Design/methodology/approach: Using parallel constrain satisfaction theory as domain theory to explain the highhandedness of stereotypes and gender stereotype theories (particularly around feminine use of humour), we explain why gender based stereotypes could constrain brand behaviors, and in turn, feminine brands get penalised for using witty, aggressive and self-enhancing humor. Findings: Extension of gender stereotypes to anthropomorphised brands will lead consumers to judge the use of negative humour by a feminine brand as less appropriate, which will trigger the causal chain of reduced sense of communal appropriateness and brand warmth which will result in a negative attitude towards the brand. Originality/value: Brand gendering being susceptible to gender based stereotypes, has very little attention in the literature and hence use of negative humour (stereotypical male behaviour), has never been studied in the context of gendered brands. It also helps understand to what extent stereotypes will impact attitudinal responses to the brand. Our work can help understand when heavily gendered brands can optimise the use of humour and when they can avoid it.

Keywords: brand femininity, brand gender, gender stereotypes, humour

Procedia PDF Downloads 201

Authors: Nouh Zeggai, Lucas Debrux, Fabien Parrain, Brahim Dkhil, Martino Lobue, Morgan Almanza

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Refrigeration and air conditioning are some of the most used energies in our daily life, especially vapor compression refrigeration. Electrocaloric material might appears as an alternative towards solid-state cooling. polyvinylidene fluoride (PVDF) based polymer has shown promising adiabatic temperature change (∆T) and entropy change (∆S). There is practically no limit to the electric field that can be applied, except the one that the material can withstand. However, when working with a large surface as required in a device, the chance to have a defect is larger and can drastically reduce the voltage breakdown, thus reducing the electrocaloric properties. In this work, we propose to study how the characteristic of a single film are transposed when going to multilayer. The laminator and the hot press appear as two interesting processes that have been investigating to achieve a multilayer film. The study is mainly focused on the breakdown field and the adiabatic temperature change, but the phase and crystallinity have also been measured. We process one layer-based PVDF and assemble them to obtain a multilayer. Pressing at hot temperature method and lamination were used for the production of the thin films. The multilayer film shows higher breakdown strength, temperature change, and crystallinity (beta phases) using the hot press technique.

Keywords: PVDF-TrFE-CFE, multilayer, electrocaloric effect, hot press, cooling device

Procedia PDF Downloads 169

Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

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This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

Procedia PDF Downloads 183

Authors: Zhang Qingzhong

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Though there exists an increasing number of research studies on the headquarters-subsidiary relationship, and within this context, there is a focus on subsidiaries' contributory role to multinational corporations (MNC), subsidiary autonomy, and the conditions under which autonomy exerts an effect on subsidiary performance still constitute a subject of debate in the literature. The objective of this research is to study the MNC subsidiary autonomy and performance relationship and the effect of subsidiary entrepreneurial orientation and trust on subsidiary autonomy in the China environment, a phenomenon that has not yet been studied. The research addresses the following three questions: (i) Is subsidiary autonomy associated with MNC subsidiary performance in the China environment? (ii) How do subsidiary entrepreneurship and its trust in headquarters affect the level of subsidiary autonomy and its relationship with subsidiary performance? (iii) Does subsidiary autonomy have a mediating effect on subsidiary performance with subsidiary’s entrepreneurship and trust in headquarters? In the present study, we have reviewed literature and conducted semi-structured interviews with multinational corporation (MNC) subsidiary senior executives in China. Building on our insights from the interviews and taking perspectives from four theories, namely the resource-based view (RBV), resource dependency theory, integration-responsiveness framework, and social exchange theory, as well as the extant articles on subsidiary autonomy, entrepreneurial orientation, trust, and subsidiary performance, we have developed a model and have explored the direct and mediating effects of subsidiary autonomy on subsidiary performance within the framework of the MNC. To test the model, we collected and analyzed data based on cross-industry two waves of an online survey from 102 subsidiaries of MNCs in China. We used structural equation modeling to test measurement, direct effect model, and conceptual framework with hypotheses. Our findings confirm that (a) subsidiary autonomy is positively related to subsidiary performance; (b) subsidiary entrepreneurial orientation is positively related to subsidiary autonomy; (c) subsidiary’s trust in headquarters has a positive effect on subsidiary autonomy; (d) subsidiary autonomy mediates the relationship between entrepreneurial orientation and subsidiary performance; (e) subsidiary autonomy mediates the relationship between trust and subsidiary performance. Our study highlights the important role of subsidiary autonomy in leveraging the resource of subsidiary entrepreneurial orientation and its trust relationship with headquarters to achieve high performance. We discuss the theoretical and managerial implications of the findings and propose directions for future research.

Keywords: subsidiary entrepreneurial orientation, trust, subsidiary autonomy, subsidiary performance

Procedia PDF Downloads 185

Authors: Taonga Temwani Chibaka

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This qualitative research study was conducted to identify the common risk factors that affect the construction industry in Malawi in the building and infrastructure (civil works) projects. The study then evaluates the possible risk responses that are done to mitigate the various risk factors that were identified. I addition the research also established the barriers to risk management implementation with lastly mapping out as where the identified risk factors fall on which stage of the project and then also map out the knowledge areas that need to be worked on the cases on Malawian construction industry in order to mitigate most of the identified risk factors. The study involved the interviewing the professionals from the construction industry in Malawi where insights and ideas were collected, analysed and interpreted. The key study findings show that risks related to clients group are perceived as most critical followed by the contractor related, consultant related and then external group related factors respectively where preventive measures are the most applied risk response technique where the aim to avoid most of the risk factors from happening. Most of the risk factors identified were internal risks and in managerial category which suggested that risk planning was to be emphasized at pre-contract stage to minimize these risks since a bigger percentage of the risk factors were mapped out at implementation stage. Furthermore, barriers to risk management were identified and the key barriers were lack of awareness; lack of knowledge; lack of formal policies in place; regarded as costly and limited time which resulted in proposing that regulating authorities to purposefully introduce intense training on risk management to make known of this new knowledge area. The study then recommends that organisation should formally implement risk management where policies should be introduced to enforce all parties to undertake this. Risk planning was regarded as paramount and this to be done from pre-contract phase so as to mitigate 80% of the risk factors. Finally, training should be done on all project management knowledge areas.

Keywords: risk management, risk factors, risks, malawi

Procedia PDF Downloads 313

Authors: Guoyu Lin

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This paper explores the role investor sentiment plays in the relationship between analyst forecast dispersion and stock returns. With short sale constraints, stock prices are determined by the optimistic investors. During the high sentiment periods when investors suffer more from psychological bias, there are more optimistic investors. This is the first paper to document that following the high sentiment periods, stocks with the most analyst forecast dispersion are overpriced, earning significantly negative returns, while those with the least analyst forecast dispersion are not overpriced as the degree of belief dispersion is low. However, following the low sentiment periods, both are not overpriced. A portfolio which longs the least dispersed stocks and shorts the most dispersed stocks yields significantly positive returns only following the high sentiment periods. My findings can potentially reconcile the puzzling risk effect and mispricing effect in the literature. The risk (mispricing) effect suggests a positive (negative) relation between analyst forecast dispersion and future stock returns. Presumably, the magnitude of the mispricing effect depends on the proportion of irrational investors and their bias, which is positively related to investor sentiment. During the high sentiment period, the mispricing effect takes over and the overall effect is negative. During the low sentiment period, the percentage of irrational investors is mediate, and the mispricing effect and the risk effect counter each other, leading to insignificant relation.

Keywords: analyst forecast dispersion, short-sale constraints, investor sentiment, stock returns

Procedia PDF Downloads 139

Authors: Yiping Meng, Yiming Sun

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The traditional construction industry is unable to meet the requirements for novel fabrication and construction. Automated construction and digital design have emerged as industry development trends that compensate for this shortcoming under the backdrop of Industrial Revolution 4.0. Benefitting from more flexible working space and more various end-effector tools compared to CNC methods, robot fabrication and construction techniques have been used in irregular architectural design. However, there is a lack of a systematic and comprehensive design and optimisation workflow considering geometric form, material, and fabrication methods. This paper aims to propose a design optimisation workflow for improving the rationality of a free-form timber structure fabricated by the robotic arm. Firstly, the free-form surface is described by NURBS, while its structure is calculated using the finite element analysis method. Then, by considering the characteristics and limiting factors of robotic timber fabrication, strain energy and robustness are set as optimisation objectives to optimise structural morphology by gradient descent method. As a result, an optimised structure with axial force as the main force and uniform stress distribution is generated after the structure morphology optimisation process. With the decreased strain energy and the improved robustness, the generated structure's bearing capacity and mechanical properties have been enhanced. The results prove the feasibility and effectiveness of the proposed optimisation workflow for free-form timber structure morphology design.

Keywords: robotic fabrication, free-form timber structure, Multi-objective optimisation, Structural morphology, rational design

Procedia PDF Downloads 190

Authors: Kamila Troper, Pedro Mestre, Maria Lurdes Menano, Joana Mendonça, Maria João Costa, Sandra Demel

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Introduction: Visual impairment is a problem that has an influence on hundreds of thousands of people all over the world. Although it is possible for a Visually Impaired person to do most jobs, the right training, technological assistance, and emotional support are essential. Ergonomics be able to solve many of the problems/issues with the relative ease of positioning, lighting and design of the workplace. A little forethought can make a tremendous difference to the ease with which a person with an impairment function. Objectives: Review the main ergonomic adaptation measures reported in the literature in order to promote better working conditions and safety measures for the visually impaired. Methodology: This was an exploratory-descriptive, qualitative literature systematic review study. The main databases used were: PubMed, BIREME, LILACS, with articles and studies published between 2000 and 2021. Results: Based on the principles of the theoretical references of ergonomic analysis of work, the main restructuring of the physical space of the workstations were: Accessibility facilities and assistive technologies; A screen reader that captures information from a computer and sends it in real-time to a speech synthesizer or Braille terminal; Installations of software with voice recognition, Monitors with enlarged screens; Magnification software; Adequate lighting, magnifying lenses in addition to recommendations regarding signage and clearance of the places where the visually impaired pass through. Conclusions: Employability rates for people with visual impairments(both those who are blind and those who have low vision)are low and continue to be a concern to the world and for researchers as a topic of international interest. Although numerous authors have identified barriers to employment and proposed strategies to remediate or circumvent those barriers, people with visual impairments continue to experience high rates of unemployment.

Keywords: ergonomic adaptations, visual impairments, ergonomic analysis of work, systematic review

Procedia PDF Downloads 178

Authors: Daniel Barros, Carlos Mota, Raul Fangueiro, Pedro Rosa, Gonçalo Domingos, Alfredo Passanha, Norberto Almeida

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The main aim of the work was to compare the ballistic performance of developed composites using different types of fiber woven fabrics [0,90] and different layers orientation (Angle-ply). The ballistic laminate composites were developed using E-glass, S-glass and aramid fabrics impregnated with thermosetting epoxy resin and using different layers orientation (0,0)º and (0,15)º. The idea of the study is to compare the ballistic performance of each laminate produced by studying the velocity loss of the fragment fired into the laminate surface. There are present some mechanical properties for laminates produced using the different types of fiber, where tensile, flexural and impact Charpy properties were studied. Overall, the angle-ply laminates produced using orientations of (0,15)º, despite the slight loss of mechanical properties compared to the (0,0)º orientation, presents better ballistic resistance and dissipation of energy, for lower ballistic impact velocities (under 290 m/s-1). After treatment of ballistic impact results, the S-Glass with (0,15)º laminate presents better ballistic perforce compared to the other combinations studied.

Keywords: ballistic impact, angle-ply, ballistic composite, s-glass fiber, aramid fiber, fabric fiber, energy dissipation, mechanical performance

Procedia PDF Downloads 205

Authors: Arnold Sanda Layuk

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Fraud in the disclosure of financial statements by management shows that agency conflict is an important issue in the company. The conflict has consequences for the agency costs that must be borne and has an impact on the firm's performance. The effect of agency costs on firm performance is investigated in this study, as well as whether several variables such as corporate governance mechanisms can positively moderate the agency cost and firm performance relationship. The agency cost is measured by the asset utilization ratio and discretionary expenditure ratio. The firm's performance is represented by the return on equity. Data was collected from the manufacturing companies listed on the Indonesia Stock Exchange from 2015 to 2019, then regressed on the panel data using the panel corrected standard error model (PCSE). According to the findings, agency costs are negatively related to firm performance, which supports previous empirical research findings. It also found that the agency cost and firm performance relationship is significantly moderated by board size and ownership concentration as the representatives of corporate governance mechanisms. It suggests that corporate governance can become tools to reduce agency costs and increase firm performance as well. The empirical evidence adds to previous research on agency conflict, particularly in emerging markets. These findings are expected to supplement previous research and provide additional information to shareholders in order to control opportunistic management decisions that affect their investments and discretionary operational expenses.

Keywords: agency cost, corporate governance, asset utilization ratio, firm performance

Procedia PDF Downloads 190

Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

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The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

Procedia PDF Downloads 187

Authors: Stehr Melanie

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The availability of apposite information is essential for the decision-making process of organizational buyers. Due to the constraints of the Covid-19 crisis, information channels that emphasize face-to-face contact (e.g. sales visits, trade shows) have been unavailable, and usage of digitally-driven information channels (e.g. videoconferencing, platforms) has skyrocketed. This paper explores the question in which areas the pandemic induced shift in the use of information channels could be sustainable and in which areas it is a temporary phenomenon. While information and buying behavior in B2C purchases has been regularly studied in the last decade, the last fundamental model of organizational buying behavior in B2B was introduced by Johnston and Lewin (1996) in times before the advent of the internet. Subsequently, research efforts in B2B marketing shifted from organizational buyers and their decision and information behavior to the business relationships between sellers and buyers. This study builds on the extensive literature on situational factors influencing organizational buying and information behavior and uses the economics of information theory as a theoretical framework. The research focuses on the German woodworking industry, which before the Covid-19 crisis was characterized by a rather low level of digitization of information channels. By focusing on an industry with traditional communication structures, a shift in information behavior induced by an exogenous shock is considered a ripe research setting. The study is exploratory in nature. The primary data source is 40 in-depth interviews based on the repertory-grid method. Thus, 120 typical buying situations in the woodworking industry and the information and channels relevant to them are identified. The results are combined into clusters, each of which shows similar information behavior in the procurement process. In the next step, the clusters are analyzed in terms of the post and pre-Covid-19 crisis’ behavior identifying stable and dynamic information behavior aspects. Initial results show that, for example, clusters representing search goods with low risk and complexity suggest a sustainable rise in the use of digitally-driven information channels. However, in clusters containing trust goods with high significance and novelty, an increased return to face-to-face information channels can be expected after the Covid-19 crisis. The results are interesting from both a scientific and a practical point of view. This study is one of the first to apply the economics of information theory to organizational buyers and their decision and information behavior in the digital information age. Especially the focus on the dynamic aspects of information behavior after an exogenous shock might contribute new impulses to theoretical debates related to the economics of information theory. For practitioners - especially suppliers’ marketing managers and intermediaries such as publishers or trade show organizers from the woodworking industry - the study shows wide-ranging starting points for a future-oriented segmentation of their marketing program by highlighting the dynamic and stable preferences of elaborated clusters in the choice of their information channels.

Keywords: B2B buying process, crisis, economics of information theory, information channel

Procedia PDF Downloads 182

Authors: Hiba Mezaache

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The current study aimed to know the impact of using information and communication technology on the process of re-engineering small and medium enterprises, as the world witnessed the speed development of the latter in its field of work and the diversity of its objectives and programs, that also made its process important for the growth and development of the institution and also gaining the flexibility to face the changes that may occur in the environment of work, so in order to know the impact of information and communication technology on the success of this process, we prepared an electronic questionnaire that included (70) items, and we also used the SPSS statistical calendar to analyze the data obtained. In the end of our study, our conclusion was that there was a positive correlation between the four dimensions of information and communication technology, i.e., hardware and equipment, software, communication networks, databases, and the re-engineering process, in addition to the fact that the studied institutions attach great importance to formal communication, for its positive advantages that it achieves in reducing time and effort and costs in performing the business. We could also say that communication technology contributes to the process of formulating objectives related to the re-engineering strategy. Finally, we recommend the necessity of empowering workers to use information technology and communication more in enterprises, and to integrate them more into the activity of the enterprise by involving them in the decision-making process, and also to keep pace with the development in the field of software, hardware, and technological equipment.

Keywords: information and communication technology, re-engineering, small and medium enterprises, the impact

Procedia PDF Downloads 174

Authors: Nur Aziza Luxfiati

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Clustering is partitioning data sets into sub-sets or groups in such a way that elements certain properties have shared property settings with a high level of similarity within one group and a low level of similarity between groups. . The K-Means algorithm is one of thealgorithmsclustering as a grouping tool that is most widely used in scientific and industrial applications because the basic idea of the kalgorithm is-means very simple. In this research, applying the technique of clustering using the k-means algorithm as a method of solving the problem of national development imbalances between regions in Central Java Province based on macroeconomic indicators. The data sample used is secondary data obtained from the Central Java Provincial Statistics Agency regarding macroeconomic indicator data which is part of the publication of the 2019 National Socio-Economic Survey (Susenas) data. score and determine the number of clusters (k) using the elbow method. After the clustering process is carried out, the validation is tested using themethodsBetween-Class Variation (BCV) and Within-Class Variation (WCV). The results showed that detection outlier using z-score normalization showed no outliers. In addition, the results of the clustering test obtained a ratio value that was not high, namely 0.011%. There are two district/city clusters in Central Java Province which have economic similarities based on the variables used, namely the first cluster with a high economic level consisting of 13 districts/cities and theclustersecondwith a low economic level consisting of 22 districts/cities. And in the cluster second, namely, between low economies, the authors grouped districts/cities based on similarities to macroeconomic indicators such as 20 districts of Gross Regional Domestic Product, with a Poverty Depth Index of 19 districts, with 5 districts in Human Development, and as many as Open Unemployment Rate. 10 districts.

Keywords: clustering, K-Means algorithm, macroeconomic indicators, inequality, national development

Procedia PDF Downloads 155

Authors: Zintle Sikhunyana

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Management of public finance in many countries such as South Africa is affected by political decisions and by policies around fiscal decentralization amongst the government spheres. Economic success is said to be determined by efficient management of public finance and by the policies or strategies that are implemented to support efficient public finance management. Policymakers focus on pay attention to how economic policies have been implemented and how they are directed into ensuring stable development. This will allow policymakers to address economic challenges through the usage of fiscal policy parameters that are linked to the achieved rate of economic growth and development. Efficient public finance management reduces the likelihood of corruption and corruption is said to have negative effects on economic growth and development. Corruption in public finance refers to an act of using funds for personal benefits. To achieve macroeconomic objectives, governments make use of government expenditure and government expenditure is financed through tax revenue. The main aim of this paper is to investigate the potential impact of public finance management on economic growth and development in South Africa. The secondary data obtained from the South African Reserve Bank (SARB) and World Bank for 1980- 2020 has been utilized to achieve the research objectives. To test the impact of public finance management on economic growth and development, the study will use Seeming Unrelated Regression Equation (SURE) Modelling that allows researchers to model multiple equations with interdependent variables. The advantages of using SUR are that it efficiently allows estimation of relationships between variables by combining information on different equations and SUR test restrictions that involve parameters in different equations. The findings have shown that there is a positive relationship between efficient public finance management and economic growth/development. The findings also show that efficient public finance management has an indirect positive impact on economic growth and development. Corruption has a negative impact on economic growth and development. It results in an efficient allocation of government resources and thereby improves economic growth and development. The study recommends that governments who aim to stimulate economic growth and development should target and strengthen public finance management policies or strategies.

Keywords: corruption, economic growth, economic development, public finance management, fiscal decentralization

Procedia PDF Downloads 198

Authors: Chloe E. Edwards, Yasaman Shahtaheri

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Risk management plays a fundamental role in project planning and delivery. The purpose of incorporating risk management into project management practices is to identify and address uncertainties related to key project-related activities. The uncertainties, known as risk events, can relate to project deliverables that are quantifiable and are often measured by impact to project schedule, cost, or environmental impact. Risk management should be incorporated as an iterative practice throughout the planning, execution, and commissioning phases of a project. This paper specifically examines how risk management contributes to effective project planning and delivery through a case study of a transportation project. This case study focused solely on impacts to project schedule regarding three milestones: readiness for delivery, readiness for testing and commissioning, and completion of the facility. The case study followed the ISO 31000: Risk Management – Guidelines. The key factors that are outlined by these guidelines include understanding the scope and context of the project, conducting a risk assessment including identification, analysis, and evaluation, and lastly, risk treatment through mitigation measures. This process requires continuous consultation with subject matter experts and monitoring to iteratively update the risks accordingly. The risk identification process led to a total of fourteen risks related to design, permitting, construction, and commissioning. The analysis involved running 1,000 Monte Carlo simulations through @RISK 8.0 Industrial software to determine potential milestone completion dates based on the project baseline schedule. These dates include the best case, most likely case, and worst case to provide an estimated delay for each milestone. Evaluation of these results provided insight into which risks were the highest contributors to the projected milestone completion dates. Based on the analysis results, the risk management team was able to provide recommendations for mitigation measures to reduce the likelihood of risks occurring. The risk management team also provided recommendations for managing the identified risks and project activities moving forward to meet the most likely or best-case milestone completion dates.

Keywords: construction management, monte carlo simulation, project delivery, risk assessment, transportation engineering

Procedia PDF Downloads 105

Authors: Justin Woulfe

Abstract:

Siloed logistics and supply chain management systems throughout the Department of Defense (DOD) has led to disparate approaches to modeling and simulation (M&S), a lack of understanding of how one system impacts the whole, and issues with “optimal” solutions that are good for one organization but have dramatic negative impacts on another. Many different systems have evolved to try to understand and account for uncertainty and try to reduce the consequences of the unknown. As the DoD undertakes expansive digital transformation initiatives, there is an opportunity to fuse and leverage traditionally disparate data into a centrally hosted source of truth. With a streamlined process incorporating machine learning (ML) and artificial intelligence (AI), advanced M&S will enable informed decisions guiding program success via optimized operational readiness and improved mission success. One of the current challenges is to leverage the terabytes of data generated by monitored systems to provide actionable information for all levels of users. The implementation of a cloud-based application analyzing data transactions, learning and predicting future states from current and past states in real-time, and communicating those anticipated states is an appropriate solution for the purposes of reduced latency and improved confidence in decisions. Decisions made from an ML and AI application combined with advanced optimization algorithms will improve the mission success and performance of systems, which will improve the overall cost and effectiveness of any program. The Systecon team constructs and employs model-based simulations, cutting across traditional silos of data, aggregating maintenance, and supply data, incorporating sensor information, and applying optimization and simulation methods to an as-maintained digital twin with the ability to aggregate results across a system’s lifecycle and across logical and operational groupings of systems. This coupling of data throughout the enterprise enables tactical, operational, and strategic decision support, detachable and deployable logistics services, and configuration-based automated distribution of digital technical and product data to enhance supply and logistics operations. As a complete solution, this approach significantly reduces program risk by allowing flexible configuration of data, data relationships, business process workflows, and early test and evaluation, especially budget trade-off analyses. A true capability to tie resources (dollars) to weapon system readiness in alignment with the real-world scenarios a warfighter may experience has been an objective yet to be realized to date. By developing and solidifying an organic capability to directly relate dollars to readiness and to inform the digital twin, the decision-maker is now empowered through valuable insight and traceability. This type of educated decision-making provides an advantage over the adversaries who struggle with maintaining system readiness at an affordable cost. The M&S capability developed allows program managers to independently evaluate system design and support decisions by quantifying their impact on operational availability and operations and support cost resulting in the ability to simultaneously optimize readiness and cost. This will allow the stakeholders to make data-driven decisions when trading cost and readiness throughout the life of the program. Finally, sponsors are available to validate product deliverables with efficiency and much higher accuracy than in previous years.

Keywords: artificial intelligence, digital transformation, machine learning, predictive analytics

Procedia PDF Downloads 157

Authors: Victor Breux, Jérôme Boutet, Alain Goret, Viviane Cattin

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Early detection of anomalies in data centers is important to reduce downtimes and the costs of periodic maintenance. However, there is little research on this topic and even fewer on the fusion of sensor data for the detection of abnormal events. The goal of this paper is to propose a method for anomaly detection in data centers by combining sensor data (temperature, humidity, power) and deep learning models. The model described in the paper uses one autoencoder per sensor to reconstruct the inputs. The auto-encoders contain Long-Short Term Memory (LSTM) layers and are trained using the normal samples of the relevant sensors selected by correlation analysis. The difference signal between the input and its reconstruction is then used to classify the samples using feature extraction and a random forest classifier. The data measured by the sensors of a data center between January 2019 and May 2020 are used to train the model, while the data between June 2020 and May 2021 are used to assess it. Performances of the model are assessed a posteriori through F1-score by comparing detected anomalies with the data center’s history. The proposed model outperforms the state-of-the-art reconstruction method, which uses only one autoencoder taking multivariate sequences and detects an anomaly with a threshold on the reconstruction error, with an F1-score of 83.60% compared to 24.16%.

Keywords: anomaly detection, autoencoder, data centers, deep learning

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Authors: Honorio Salmeron Valdivieso, Andy Keane, David Toal

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In the area of mechanical reverse engineering, processes often encounter difficulties capturing small, highly localized surface information. This could be the case if a physical turbine was 3D scanned for lifecycle management or robust design purposes, with interest on eroded areas or scratched coating. The limitation partly is due to insufficient automated frameworks for handling -localized - surface information during the reverse engineering pipeline. We have developed a tool for blending surface patches with arbitrary irregularities into a base body (e.g. a CAD solid). The approach aims to transfer small surface features while preserving their shape and relative placement by using a multi-resolution scheme and rigid deformations. Automating this process enables the inclusion of outsourced surface information in CAD models, including samples prepared in mesh handling software, or raw scan information discarded in the early stages of reverse engineering reconstruction.

Keywords: application lifecycle management, multiresolution deformation, reverse engineering, robust design, surface blending

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Authors: Anusha Chanda, Reenu Singh

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Packaging is one of the major contributors to global waste. While efforts are being made to switch to more sustainable types of packaging, such as switching from single use plastics to paper, not all polluting materials, have been rethought in terms of recycling. Minimalism in packaging design can help reduce the amount of waste produced greatly. While online companies have shifted to using cardboard boxes for packages, a large amount of waste in still generated from other materials affiliated with cardboard packaging, such as tape, bubble wrap, plastic wrap, among others. Minimalism also works by reducing extra packaging and increasing the reusability of the material. This paper looks at research related to minimalism in packaging design, minimalism, and sustainability. A survey was conducted in order to find out the different ways in which minimalism can be implemented in packaging design. Information gathered from the research and responses from the survey was used to ideate product design alternatives for sustainable substitutes for bubble wrap in packaging. This would help greatly reduce the amount of packaging waste and improve environmental quality.

Keywords: environment, minimalism, packaging, product design, sustainable

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Authors: Risna Wijayanti, Sumiati, Hanif Iswari

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This study aims to analyze the role of financial risk attitude as a mediation between financial knowledge and business growth. The ability of human resources in managing capital (financial literacy) can be a major milestone for a company's business to grow and build its competitive advantage. This study analyzed the important role of financial risk attitude in bringing about financial knowledge on corporate growth. There have been many discussions arguing that financial knowledge is one of the main abilities of corporate managers in determining the success of managing a company. However, a contrary argument of other scholars also enlightened that financial knowledge did not have a significant influence on corporate growth. This study used literatures' review to analyze whether there is another variable that can mediate the effect of financial knowledge toward corporate growth. Research mapping was conducted to analyze the concept of risk tolerance. This concept was related to people's risk aversion effects when making a decision under risk and the role of financial knowledge on changes in financial income. Understanding and managing risks and investments are complicated, in particular for corporate managers, who are always demanded to maintain their corporate growth. Substantial financial knowledge is extremely needed to identify and take accurate information for corporate financial decision-making. By reviewing several literature, this study hypothesized that financial knowledge of corporate managers would be meaningless without manager's courage to bear risks for taking favorable business opportunities. Therefore, the level of risk aversion from corporate managers will determine corporate action, which is a reflection of corporate-level investment behavior leading to attain corporate success or failure for achieving the company's expected growth rate.

Keywords: financial knowledge, financial risk attitude, corporate growth, risk tolerance

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Authors: Njabulo Ncube, Elena Kulinskaya, Nicholas Steel, Dmitry Pshezhetskiy

Abstract:

Life expectancy in the United Kingdom (UK) has been near constant since 2010, particularly for the individuals of 65 years and older. This trend has been also noted in several other countries. This slowdown in the increase of life expectancy was concurrent with the increase in the number of deaths caused by non-communicable diseases. Of particular concern is the world-wide exponential increase in the number of diabetes related deaths. Previous studies have reported increased mortality hazards among diabetics compared to non-diabetics, and on the differing effects of antidiabetic drugs on mortality hazards. This study aimed to estimate the all-cause mortality hazards and related life expectancies among type 2 diabetes (T2DM) patients in the UK using the time-variant Gompertz-Cox model with frailty. The study also aimed to understand the major causes of the change in life expectancy growth in the last decade. A total of 221 182 (30.8% T2DM, 57.6% Males) individuals aged 50 years and above, born between 1930 and 1960, inclusive, and diagnosed between 2000 and 2016, were selected from The Health Improvement Network (THIN) database of the UK primary care data and followed up to 31 December 2016. About 13.4% of participants died during the follow-up period. The overall all-cause mortality hazard ratio of T2DM compared to non-diabetic controls was 1.467 (1.381-1.558) and 1.38 (1.307-1.457) when diagnosed between 50 to 59 years and 60 to 74 years, respectively. The estimated life expectancies among T2DM individuals without further comorbidities diagnosed at the age of 60 years were 2.43 (1930-1939 birth cohort), 2.53 (1940-1949 birth cohort) and 3.28 (1950-1960 birth cohort) years less than those of non-diabetic controls. However, the 1950-1960 birth cohort had a steeper hazard function compared to the 1940-1949 birth cohort for both T2DM and non-diabetic individuals. In conclusion, mortality hazards for people with T2DM continue to be higher than for non-diabetics. The steeper mortality hazard slope for the 1950-1960 birth cohort might indicate the sub-population contributing to a slowdown in the growth of the life expectancy.

Keywords: T2DM, Gompetz-Cox model with frailty, all-cause mortality, life expectancy

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Authors: Padma Chutoo, Elena Kulinskaya, Ilyas Bakbergenuly, Nicholas Steel, Dmitri Pchejetski

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Stroke is associated with a significant risk of morbidity and mortality. There is scarcity of research on the long-term survival after first-ever ischaemic stroke (IS) events in England with regards to effects of different medical therapies and comorbidities. The objective of this study was to model the all-cause mortality after an IS diagnosis in the adult population of England. Using a retrospective case-control design, we extracted the electronic medical records of patients born prior to or in year 1960 in England with a first-ever ischaemic stroke diagnosis from January 1986 to January 2017 within the Health and Improvement Network (THIN) database. Participants with a history of ischaemic stroke were matched to 3 controls by sex and age at diagnosis and general practice. The primary outcome was the all-cause mortality. The hazards of the all-cause mortality were estimated using a Weibull-Cox survival model which included both scale and shape effects and a shared random effect of general practice. The model included sex, birth cohort, socio-economic status, comorbidities and medical therapies. 20,250 patients with a history of IS (cases) and 55,519 controls were followed up to 30 years. From 2008 to 2015, the one-year all-cause mortality for the IS patients declined with an absolute change of -0.5%. Preventive treatments to cases increased considerably over time. These included prescriptions of statins and antihypertensives. However, prescriptions for antiplatelet drugs decreased in the routine general practice since 2010. The survival model revealed a survival benefit of antiplatelet treatment to stroke survivors with hazard ratio (HR) of 0.92 (0.90 – 0.94). IS diagnosis had significant interactions with gender and age at entry and hypertension diagnosis. IS diagnosis was associated with high risk of all-cause mortality with HR= 3.39 (3.05-3.72) for cases compared to controls. Hypertension was associated with poor survival with HR = 4.79 (4.49 - 5.09) for hypertensive cases relative to non-hypertensive controls, though the detrimental effect of hypertension has not reached significance for hypertensive controls, HR = 1.19(0.82-1.56). This study of English primary care data showed that between 2008 and 2015, the rates of prescriptions of stroke preventive treatments increased, and a short-term all-cause mortality after IS stroke declined. However, stroke resulted in poor long-term survival. Hypertension, a modifiable risk factor, was found to be associated with poor survival outcomes in IS patients. Antiplatelet drugs were found to be protective to survival. Better efforts are required to reduce the burden of stroke through health service development and primary prevention.

Keywords: general practice, hazard ratio, health improvement network (THIN), ischaemic stroke, multiple imputation, Weibull-Cox model.

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Authors: Abid Kousay

Abstract:

Appeared and developed essentially in large companies and multinationals, Talent Management (TM) in Small and Medium-Sized Enterprises (SMEs) has remained an under-explored subject till today. Although the literature on TM in the Anglo-Saxon context is developing, it remains monopolized in non-European contexts, especially in France. Therefore, this article aims to address these shortcomings through contributing to TM issues by adopting a multilevel approach holding the goal of reaching a global holistic vision of interactions between various levels while applying TM. A qualitative research study carried out within 12 SMEs in France, built on the methodological perspective of grounded theory, will be used in order to go beyond description, to generate or discover a theory or even a unified theoretical explanation. Our theoretical contributions are the results of the grounded theory, the fruit of context considerations and the dynamic of the multilevel approach. We aim firstly to determine the perception of talent and TM in SMEs. Secondly, we formalize TM in SME through the empowerment of all 3 levels in the organization (individual, collective, and organizational). And we generate a multilevel dynamic system model, highlighting the institutionalization dimension in SMEs and the managerial conviction characterized by the domination of the leader’s role. Thirdly, this first study sheds light on the importance of rigorous implementation of TM in SMEs in France by directing CEO and HR and TM managers to focus on elements that upstream TM implementation and influence the system internally. Indeed, our systematic multilevel approach policy reminds them of the importance of strategic alignment while translating TM policy into strategies and practices in SMEs.

Keywords: French context, multilevel approach, talent management, , TM system

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Authors: Abid Kousay

Abstract:

Appeared and developed essentially in large companies and multinationals, Talent Management (TM) in Small and Medium-Sized Enterprises (SMEs) has remained an under-explored subject till today. Although the literature on TM in the Anglo-Saxon context is developing, it remains monopolized in non-European contexts, especially in France. Therefore, this article aims to address these shortcomings through contributing to TM issues, by adopting a multilevel approach holding the goal of reaching a global holistic vision of interactions between various levels, while applying TM. A qualitative research study carried out within 12 SMEs in France, built on the methodological perspective of grounded theory, will be used in order to go beyond description, to generate or discover a theory or even a unified theoretical explanation. Our theoretical contributions are the results of the grounded theory, the fruit of context considerations and the dynamic of the multilevel approach. We aim firstly to determine the perception of talent and TM in SMEs. Secondly, we formalize TM in SME through the empowerment of all 3 levels in the organization (individual, collective, and organizational). And we generate a multilevel dynamic system model, highlighting the institutionalization dimension in SMEs and the managerial conviction characterized by the domination of the leader's role. Thirdly, this first study shed the light on the importance of rigorous implementation of TM in SMEs in France by directing CEO and HR and TM managers to focus on elements that upstream TM implementation and influence the system internally. Indeed, our systematic multilevel approach policy reminds them of the importance of the strategic alignment while translating TM policy into strategies and practices in SMEs.

Keywords: French context, institutionalization, talent, multilevel approach, talent management system

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Authors: Abderrhamane Jarou, Dominique Sauter, Christophe Aubrun

Abstract:

Over the past decade, the growing demand for energy efficiency in buildings has attracted the attention of the control community. Failures in HVAC (heating, ventilation and air conditioning) systems in buildings can have a significant impact on the desired and expected energy performance of buildings and on the user's comfort as well. FTC is a recent technology area that studies the adaptation of control algorithms to faulty operating conditions of a system. The application of Fault-Tolerant Control (FTC) in HVAC systems has gained attention in the last two decades. The objective is to maintain the variations in system performance due to faults within an acceptable range with respect to the desired nominal behavior. This paper considers the so-called active approach, which is based on fault and identification scheme combined with a control reconfiguration algorithm that consists in determining a new set of control parameters so that the reconfigured performance is "as close as possible, "in some sense, to the nominal performance. Thermal models of buildings and their HVAC systems are described by non-linear (usually bi-linear) equations. Most of the works carried out so far in FDI (fault diagnosis and isolation) or FTC consider a linearized model of the studied system. However, this model is only valid in a reduced range of variation. This study presents a new fault diagnosis (FD) algorithm based on a bilinear observer for the detection and accurate estimation of the magnitude of the HVAC system failure. The main contribution of the proposed FD algorithm is that instead of using specific linearized models, the algorithm inherits the structure of the actual bilinear model of the building thermal dynamics. As an immediate consequence, the algorithm is applicable to a wide range of unpredictable operating conditions, i.e., weather dynamics, outdoor air temperature, zone occupancy profile. A bilinear fault detection observer is proposed for a bilinear system with unknown inputs. The residual vector in the observer design is decoupled from the unknown inputs and, under certain conditions, is made sensitive to all faults. Sufficient conditions are given for the existence of the observer and results are given for the explicit computation of observer design matrices. Dedicated observer schemes (DOS) are considered for sensor FDI while unknown input bilinear observers are considered for actuator or system components FDI. The proposed strategy for FTC works as follows: At a first level, FDI algorithms are implemented, making it also possible to estimate the magnitude of the fault. Once the fault is detected, the fault estimation is then used to feed the second level and reconfigure the control low so that that expected performances are recovered. This paper is organized as follows. A general structure for fault-tolerant control of buildings is first presented and the building model under consideration is introduced. Then, the observer-based design for Fault Diagnosis of bilinear systems is studied. The FTC approach is developed in Section IV. Finally, a simulation example is given in Section V to illustrate the proposed method.

Keywords: bilinear systems, fault diagnosis, fault-tolerant control, multi-zones building

Procedia PDF Downloads 168