Search results for: ​ One Cycle Policy
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5837

Search results for: ​ One Cycle Policy

5567 Lumbar Punctures: Re-Audit of Procedure Documentation Following the Introduction of a Standardised Procedure Checklist

Authors: Hayley Lawrence, Nabi Shah, Sarah Dyer

Abstract:

Aims: Lumbar punctures are a common bedside procedure performed in acute medicine. Published guidance exists on the standardised documentation of invasive procedures in order to reduce the risk of complications. The audit aim was to assess current standards of documentation in accordance with both the GMC and the National Standards for Invasive Procedures guidelines. A second cycle was conducted after introducing a standardised sticker created using current guidelines. This would assess whether the sticker improved documentation, aiming for 100% standard in each step of the procedure. Methods: An initial prospective audit of current practice was conducted over a 3-month period. Patients were identified by their presenting complaints and by colleagues assessing acute medical patients. Initial findings were presented locally, and a further prospective audit was conducted following the implementation of a standardised sticker. Results: 19 lumbar punctures were included in the first cycle and 13 procedures in the second. Pre-procedure documentation was collected for each cycle, whereby documentation of ‘Indication’ improved from 5.3% to 84.6%, ‘Consent’ from 84.2% to 100%, ‘Coagulopathy’ from 0% to 61.5%, ‘Drug Chart checked’ from 0% to 100%, ‘Position of patient’ from 26.3% to 100% and use of ‘Aseptic Technique’ from 83.3% to 100% from the first to the second cycle respectively. ‘Level of Doctor’ and ‘Supervision’ decreased from 53% to 31% and 53% to 46%, respectively, in the second cycle. Documentation of the procedure itself also demonstrated improvements, with ‘Level of Insertion’ 15.8% to 100%, ‘Name of Antiseptic Used’ 11.1% to 69.2%, ‘Local Anaesthetic Used’ 26.3% to 53.8%, ‘Needle Gauge’ 42.1% to 76.9%, ‘Number of Attempts’ 78.9% to 100% and ‘Traumatic/Atraumatic’ procedure 26.3% to 92.3%, respectively. A similar number of opening pressures were documented in each cycle at 57.9% and 53.8%, respectively, but its documentation was deemed ‘Not Applicable’ in a higher number of patients in the second cycle. Post-procedure documentation improved, with ‘Number of Samples obtained’ increasing from 52.6% to 92.3% and documentation of ‘Immediate Complications’ increasing from 78.9% to 100%. ‘Dressing Applied’ was poorly documented in the first cycle at 16.7%. This was not included on the standardised sticker, resulting in 0% documentation in the second cycle. Documentation of Clinicians’ Name and Bleep reduced from 63.2% to 15.4%, but when the name only was analysed, this increased to 84.6%. Conclusions: Standardised stickers for lumbar punctures do improve documentation and hence should result in improved patient safety. There is still room for improvement to reach 100% standard in each area, especially with respect to the clinician’s name and contact details being documented. Final adjustments will be made to the sticker before being included in a lumbar puncture kit, which will be made readily available in the acute medical wards. Future audits could be extended to include other common bedside procedures performed in acute medicine to ensure documentation of all these procedures reaches 100% standard.

Keywords: invasive procedure, lumbar puncture, medical record keeping, procedure checklist, procedure documentation, standardised documentation

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5566 Exergetic and Life Cycle Assessment Analyses of Integrated Biowaste Gasification-Combustion System: A Study Case

Authors: Anabel Fernandez, Leandro Rodriguez-Ortiz, Rosa RodríGuez

Abstract:

Due to the negative impact of fossil fuels, renewable energies are promising sources to limit global temperature rise and damage to the environment. Also, the development of technology is focused on obtaining energetic products from renewable sources. In this study, a thermodynamic model including Exergy balance and a subsequent Life Cycle Assessment (LCA) were carried out for four subsystems of the integrated gasification-combustion of pinewood. Results of exergy analysis and LCA showed the process feasibility in terms of exergy efficiency and global energy efficiency of the life cycle (GEELC). Moreover, the energy return on investment (EROI) index was calculated. The global exergy efficiency resulted in 67 %. For pretreatment, reaction, cleaning, and electric generation subsystems, the results were 85, 59, 87, and 29 %, respectively. Results of LCA indicated that the emissions from the electric generation caused the most damage to the atmosphere, water, and soil. GEELC resulted in 31.09 % for the global process. This result suggested the environmental feasibility of an integrated gasification-combustion system. EROI resulted in 3.15, which determinates the sustainability of the process.

Keywords: exergy analysis, life cycle assessment (LCA), renewability, sustainability

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5565 India and Space Insurance Policy: An Analytical Insight

Authors: Shreyas Jayasimha, Suneel Anand Sundharesan, Rohan Tigadi

Abstract:

In the recent past, the United States of America and Russia were the only two dominant players in the field of space exploration and had a virtual monopoly in the field of space and technology. However, this has changed over the past few years. Many other nation states such as India, China, and the UK have made significant progress in this field. Amongst these nations, the growth and development of the Indian space program have been nothing short of a miracle. Starting recently, India has successfully launched a series of satellites including its much acclaimed Mangalyaan mission, which placed a satellite in Mars’ orbit. The fact that India was able to attain this feat in its attempt demonstrates the enormous growth potential and promise that the Indian space program holds for the coming years. However, unlike other space-faring nations, India does not have a comprehensive and consolidated space insurance policy. In this regard, it is pertinent to note that, the costs and risks involved in a administering a space program are enormous. Therefore, in the absence of a comprehensive space insurance policy, any losses from an unsuccessful will have to be borne by the state exchequer. Thus, in order to ensure that Indian space program continues on its upward trajectory, the Indian establishment should seriously consider formulating a comprehensive insurance policy. This paper intends to analyze the international best practices followed by other space-faring nations in relation to space insurance policy. Thereafter, the authors seek to examine the current regime in India relating to space insurance policy. Finally, the authors will conclude by providing a series of recommendations regarding the essential elements that should be part of any Indian space insurance policy regime.

Keywords: India, space insurance policy, space law, Indian space research organization

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5564 A Comparison of Sulfur Mustard Cytotoxic Effects on the Two Human Lung Origin Cell Lines

Authors: P. Jost, L. Muckova, M. Matula, J. Pejchal, D. Jun, R. Stetina

Abstract:

Sulfur mustard (bis(2-chlorethyl) sulfide) is highly toxic, chemical warfare agent that has been used in the past in several armed conflicts. Except for the skin, respiratory tract is one of the important routes of exposure. The elucidation and understanding of the mechanism of toxicity of SM have been effort intensive research. The multiple targets character of SM caused cellular damage resulted in activation of many different mechanisms which contribute to cellular response and participate in the final cytopathology effect. In our present work, we compared time-dependent changes in sulfur mustard exposed adult human lung fibroblasts NHLF and lung epithelial alveolar cell line A-549. Cell viability (MTT assay, Calcein-AM assay, and xCELLigence - real-time cell analysis), apoptosis (flow cytometry), mitochondrial membrane potential (Δψm, flow cytometry), reactive oxygen species induction (DC and cell cycle distribution (flow cytometry) were studied. We observed significantly decreased mitochondrial membrane potential and subsequent induction of apoptosis correlating with decreased cellular viability in the sulfur mustard exposed cells. In low concentrations, sulfur mustard-induced S-phase cell cycle arrest, on the other hand, high concentrations, cell cycle phase distribution of sulfur mustard exposed cells resembled cell cycle phase distribution of control group, which implies nonspecific cell cycle inhibition. Epithelial cells A-549 was found as more sensible to sulfur mustard toxicity. Acknowledgements: This work was supported by a long-term organization development plan Medical Aspects of Weapons of Mass Destruction of the Faculty of Military Health Sciences, University of Defence.

Keywords: apoptosis, cell cycle, cytotoxicity, sulfur mustard

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5563 Modeling the Three - Echelon Repairable Parts Inventory System under (S-1, S) Policy

Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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5562 A Migration Policy Gone Wrong: A Study on How the Encampment Policy Undermines Refugees’ Potentials and Fails Local Economy: A Case of East Africa

Authors: John Bosco Ngendakurio

Abstract:

The key question this paper asks is, ‘how does the refugee encampment policy undermine refugees’ potentials and fail local economy in East African countries?’ It is important to develop a full understanding of the legacies of the encampment policy for refugees’ performances economically, socially, and politically. The negative impacts of the encampment policy include the lack of participation or access to opportunities outside the refugee camps such as employment, education, and local integration, unfair imprisonments and constant alienation of refugees, mental and physical health issues, just to name a few. Evidence suggests that refugee camps in East Africa have progressively become open detention centres due to their designs, their locations, and movement restrictions imposed on refugees. Such restrictions in a region that hosts millions of refugees do not only undermine refugees’ potentials, but it also hurts the local economy- host countries miss out in many ways. Outlining the negative impacts of the encampment policy will enable governments and relevant non-governmental actors, including policymakers, to re-consider this policy with the aim to improve refugees’ participation and contributions in the broader society, promote socially cohesive practices, and help millions of refugees gain independence and reach their potentials financially, socially and politically, finally and truly giving the voice to the voiceless. The encampment policy undermines the general human security in East Africa, and it is one of the migration practices showcasing East African governments’ lack of will to protect human rights, especially within the most vulnerable population groups such as refugees.

Keywords: migration policy, immigration, refugees, encampment, migration, integration, social cohesion

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5561 Energy Policy of India: An Assessment of Its Impacts and Way Forward

Authors: Mrinal Saurabh Bhaskar, Rahul E Ravindranathan, Priyangana Borah

Abstract:

Energy plays a key role and as a driving force for economic and social growth for any country. To manage the energy sources and its efficient utilization in different economic sectors, energy policy of a country is critical. The energy performance of a country is measured in Energy Intensity and India’s Energy Intensity due to several policies interventions has reduced from 0.53 toe/1000USD (2010) in the year 2000 to 0.38 toe/1000USD (2010) in the year 2014, which is about 28 per cent reduction. The Government of India has taken several initiates to manage their increasing energy demand and meet the climate change goals defined by them. The major policy milestones in India related to energy are (i) Enactment of Energy Conservation (EC) Act 2001 (ii) Establishment of Bureau of Energy Efficiency 2001 (iii) National Action Plan on Climate Change (iv) Launch of Demand Side Management schemes (v) Amendment of EC Act 2010 (vi) Launch of Perform Achieve and Trade scheme 2012. Through a critical review, this paper highlights the key energy policy interventions by India, its benefits and impact, challenges faced and efforts of the Government to overcome such challenges. Such take away would be helpful for other countries who are proposing to prepare or amend their energy policy for their different economic sectors.

Keywords: energy, efficiency, climate, policy

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5560 Testing the Life Cycle Theory on the Capital Structure Dynamics of Trade-Off and Pecking Order Theories: A Case of Retail, Industrial and Mining Sectors

Authors: Freddy Munzhelele

Abstract:

Setting: the empirical research has shown that the life cycle theory has an impact on the firms’ financing decisions, particularly the dividend pay-outs. Accordingly, the life cycle theory posits that as a firm matures, it gets to a level and capacity where it distributes more cash as dividends. On the other hand, the young firms prioritise investment opportunities sets and their financing; thus, they pay little or no dividends. The research on firms’ financing decisions also demonstrated, among others, the adoption of trade-off and pecking order theories on the dynamics of firms capital structure. The trade-off theory talks to firms holding a favourable position regarding debt structures particularly as to the cost and benefits thereof; and pecking order is concerned with firms preferring a hierarchical order as to choosing financing sources. The case of life cycle hypothesis explaining the financial managers’ decisions as regards the firms’ capital structure dynamics appears to be an interesting link, yet this link has been neglected in corporate finance research. If this link is to be explored as an empirical research, the financial decision-making alternatives will be enhanced immensely, since no conclusive evidence has been found yet as to the dynamics of capital structure. Aim: the aim of this study is to examine the impact of life cycle theory on the capital structure dynamics trade-off and pecking order theories of firms listed in retail, industrial and mining sectors of the JSE. These sectors are among the key contributors to the GDP in the South African economy. Design and methodology: following the postpositivist research paradigm, the study is quantitative in nature and utilises secondary data obtainable from the financial statements of sampled firm for the period 2010 – 2022. The firms’ financial statements will be extracted from the IRESS database. Since the data will be in panel form, a combination of the static and dynamic panel data estimators will used to analyse data. The overall data analyses will be done using STATA program. Value add: this study directly investigates the link between the life cycle theory and the dynamics of capital structure decisions, particularly the trade-off and pecking order theories.

Keywords: life cycle theory, trade-off theory, pecking order theory, capital structure, JSE listed firms

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5559 Evidence Based Policy Studies: Examining Alternative Policy Practice towards Improving Enrolment to Higher Education in Nigeria

Authors: Muftahu Jibirin Salihu, Hazri Jamil

Abstract:

The persisting challenge of access and enrolment to higher education in commonwealth countries has been reported in several studies, including reports of the international organization such as World Bank, UNESCO among others however from the macro perspective. The overarching aim of this study is to examine alternative policy practices towards improving access to university education in Nigeria at meso level of policy practice from evidence base policy studies using one university as a case. The study adopted a qualitative approach to gain insightful understanding on the issue of the study employing a semi-structure interview and policy documents as the means for obtaining the data and other relevant information for the study. The participants of the study were purposively chosen which comprise of a number of individuals from the selected university and other related organization which responsible for the policies development and implementation of Nigerian higher education system. From the findings of the study, several initiatives have been taken at meso level to address this challenge including the introduction of the University Matriculation Program as an alternative route for enhancing to access to the university education. However, the study further provided a number of recommendations which aimed at improving access to university education such as improving the entry requirements, society orientation on university education and the issue of ranking of certificate among the Nigerian higher institutions of learning.

Keywords: policy practice, access, enrolment, university, education, Nigeria

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5558 Characteristics and Feature Analysis of PCF Labeling among Construction Materials

Authors: Sung-mo Seo, Chang-u Chae

Abstract:

The Product Carbon Footprint Labeling has been run for more than four years by the Ministry of Environment and there are number of products labeled by KEITI, as for declaring products with their carbon emission during life cycle stages. There are several categories for certifying products by the characteristics of usage. Building products which are applied to a building as combined components. In this paper, current status of PCF labeling has been compared with LCI DB for data composition. By this comparative analysis, we suggest carbon labeling development.

Keywords: carbon labeling, LCI DB, building materials, life cycle assessment

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5557 Disability Policy and Leaders in México

Authors: Jennifer Isabelle Rios Rendón, Ursula Sanchez, Dana Lee Baker

Abstract:

Disability Policy in México has witnessed numerous changed throughout the years. Physical disabilities are more often recognized in Mexican culture. However, with an emerging focus on neurological disabilities or differences in individuals’ new policies are needed to serve better and understand the needs of these populations. The need to understand and communicate with local leaders is imperative, as the lens used to analyze autism has historically been from a Western school of thought. We are looking to comprehend the disability policy subsystem in México - specifically how autism is perceived, the language used to describe it, and how it ties to the cultural stigma of disabilities that exist in México. Therefore, to understand this, we seek to interview multiple policy leaders on their experience in autism and disability policy. The goal is to conduct qualitative research through interviews with local autism and disability leaders in México. This methodology aims to answer the questions of what language commonly and culturally is utilized in disability policy, the context of how autism is perceived in México, and in general, the lived experience of the disability policy leaders that take part in this effort in México. Local activists and policy leaders were initially found through an online search then collected using snowball sampling. The interviews were conducted through a series of pre-formulated questions that the policy leader answered via email or a phone conversation with the researchers. Acknowledging the importance of language and accessibility, the need for the content to be in both English and Spanish as well as auditory and visual is essential to take steps in the inclusion of a Neurodiverse group of leaders. This work is a demonstration of the framework of the investigation which hopes to create a more complete understanding of the policy and political culture around autism in México. Results of the project include new insight into the developing relationship between the President Andrés Manuel López Obrador’s administration, disability activists, and neurodiverse communities. The project contributes to denormalizing the legacy of white supremacy in autism related, historically rooted in the assumption that autism occurs predominantly in white communities.

Keywords: autism, disability leaders, disability policy, México, Neurodiversity

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5556 Identification of Shocks from Unconventional Monetary Policy Measures

Authors: Margarita Grushanina

Abstract:

After several prominent central banks including European Central Bank (ECB), Federal Reserve System (Fed), Bank of Japan and Bank of England employed unconventional monetary policies in the aftermath of the financial crisis of 2008-2009 the problem of identification of the effects from such policies became of great interest. One of the main difficulties in identification of shocks from unconventional monetary policy measures in structural VAR analysis is that they often are anticipated, which leads to a non-fundamental MA representation of the VAR model. Moreover, the unconventional monetary policy actions may indirectly transmit to markets information about the future stance of the interest rate, which raises a question of the plausibility of the assumption of orthogonality between shocks from unconventional and conventional policy measures. This paper offers a method of identification that takes into account the abovementioned issues. The author uses factor-augmented VARs to increase the information set and identification through heteroskedasticity of error terms and rank restrictions on the errors’ second moments’ matrix to deal with the cross-correlation of the structural shocks.

Keywords: factor-augmented VARs, identification through heteroskedasticity, monetary policy, structural VARs

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5555 Hamiltonian Paths and Cycles Passing through Prescribed Edges in the Balanced Hypercubes

Authors: Dongqin Cheng

Abstract:

The n-dimensional balanced hypercube BHn (n ≥ 1) has been proved to be a bipartite graph. Let P be a set of edges whose induced subgraph consists of pairwise vertex-disjoint paths. For any two vertices u, v from different partite sets of V (BHn). In this paper, we prove that if |P| ≤ 2n − 2 and the subgraph induced by P has neither u nor v as internal vertices, or both of u and v as end-vertices, then BHn contains a Hamiltonian path joining u and v passing through P. As a corollary, if |P| ≤ 2n−1, then the BHn contains a Hamiltonian cycle passing through P.

Keywords: interconnection network, balanced hypercube, Hamiltonian cycle, prescribed edges

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5554 On the End-of-Life Inventory Problem

Authors: Hans Frenk, Sonya Javadi, Semih Onur Sezer

Abstract:

We consider the so-called end of life inventory problem for the supplier of a product in its final phase of the service life cycle. This phase starts when the production of the items stops and continues until the warranty of the last sold item expires. At the beginning of this phase, the supplier places a final order for spare parts to serve customers coming with defective items. At any time during the final phase, the supplier may also decide to switch to an alternative and more cost-effective policy. This alternative policy may be in the form of replacing a defective item with a substitutable product or offering discounts / rebates on new generation products. In this setup, the objective is to find a final order quantity and also a switching time which will minimize the total expected discounted cost. We study this problem under a general cost structure in a continuous-time framework where arrivals of defective items are given by a non-homogeneous Poisson process. We consider four formulations which differ by the nature of the switching time. These formulations are studied in detail and properties of the objective function are derived in each case. Using these properties, we provide exact algorithms for efficient numerical implementations. Numerical examples are provided illustrating the application of these algorithms. In these examples, we also compare the costs associated with these different formulations.

Keywords: End-of-life inventory control, martingales, optimization, service parts

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5553 A Worldwide Assessment of Geothermal Energy Policy: Systematic, Qualitative and Critical Literature Review

Authors: Diego Moya, Juan Paredes, Clay Aldas, Ramiro Tite, Prasad Kaparaju

Abstract:

Globally, energy policy for geothermal development is addressed in different forms, depending on the economy, resources, country-development, environment aspects and technology access. Although some countries have established strong regulations and standards for geothermal exploration, exploitation and sustainable use at the policy level (government departments and institutions), others have discussed geothermal laws at legal levels (congress – a national legislative body of a country). Appropriate regulations are needed not only to meet local and international funding requirements but also to avoid speculation in the use of the geothermal resource. In this regards, this paper presents the results of a systematic, qualitative and critical literature review of geothermal energy policy worldwide addressing two scenarios: policy and legal levels. At first, literature is collected and classified from scientific and government sources regarding geothermal energy policy of the most advanced geothermal producing countries, including Iceland, New Zealand, Mexico, the USA, Central America, Italy, Japan, Philippines, Indonesia, Kenia, and Australia. This is followed by a systematic review of the literature aiming to know the best geothermal practices and what remains uncertain regarding geothermal policy implementation. This analysis is made considering the stages of geothermal production. Furthermore, a qualitative analysis is conducted comparing the findings across geothermal policies in the countries mentioned above. Then, a critical review aims to identify significant items in the field to be applied in countries with geothermal potential but with no or weak geothermal policies. Finally, patterns and relationships are detected, and conclusions are drawn.

Keywords: assessment, geothermal, energy policy, worldwide

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5552 Evaluating Oman's Green Transition: A Dynamic Stochastic General Equilibrium Analysis of Climate Policy Effects

Authors: Mohamed Chakroun

Abstract:

In this paper, we analyze the macroeconomic impacts of Oman’s strategy to transition to a green economy by 2050. Our objective is to determine the most effective climate policy instrument to facilitate this transition. By utilizing a Dynamic Stochastic General Equilibrium (DSGE) model, we assess the effectiveness of three climate policy tools: a carbon tax, subsidies to green assets, and taxes on brown assets. Our results indicate that a combination of a carbon tax, along with differentiated taxes and subsidies on green and brown assets, proves to the most effective policy in reducing emissions while maintaining macroeconomic stability. The findings of this study demonstrate the need for policymakers to balance the immediate goals of reducing emissions with the economic costs involved. Implementing a gradual transition strategy may be preferable as it allows for mitigating the negative economic impacts while facilitating the shift towards a green economy.

Keywords: green economy, carbon tax, DSGE model, climate policy, sustainable growth

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5551 Knowledge, Attitude and Compliance of Secondary School Students Towards School Discipline Policy in Ibadan North Local Government Area of Oyo State, Nigeria

Authors: S. Yakubu, E. A. Isah

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One of the objectives of the school discipline policy is to instill discipline among students. However, despite the availability of this policy in various secondary schools in Nigeria, there seem to be numerous cases of indiscipline among students, which has become a source of concern to all stakeholders in the education sector. In an attempt to proffer possible solutions to this unending challenge, the study investigated the influence of knowledge and attitude on compliance of secondary school students towards school discipline policy in Ibadan North Local Government Area of Oyo State, Nigeria. The descriptive survey research design was employed to collect the requisite data. The multi-stage sampling procedure was adopted to select 570 respondents as the sample for the study. The data collected were analyzed using statistical measures of Mean, Standard deviation and Pearson Product Moment Correlation. The findings of the study showed that knowledge and compliance of school discipline policy among secondary school students in Ibadan North Local Government Area of Oyo State were significantly related (r =0.330, p<0.05). The study also revealed a significant relationship between attitude and compliance of school discipline policy among secondary school students in Ibadan North Local Government Area of Oyo State (r = 0.593, p<0.05). Based on the findings, it was recommended that school rules and regulations should be emphasized and given more awareness for easy compliance. Also, students should be encouraged to portray a positive attitude towards their respective rules and regulations.

Keywords: knowledge, attitude, compliance, school discipline policy

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5550 Rethinking Nigeria's Foreign Policy in the Age of Global Terrorism

Authors: Shuaibu Umar Abdul

Abstract:

This paper examines Nigeria’s foreign policy in the age of global terrorism. It worth saying that the threat of ‘terrorism’ is not peculiar to Western and Middle Eastern countries alone, its tentacles are now spreading all over, Africa inclusive. The issue of domestic terrorism in Nigeria has become pervasive since the return of democratic rule in 1999. This development has never been a witness in any form throughout the year of statehood in Nigeria, the issues of banditry, armed robbery, ritual killing, and criminal activities like kidnapping and pipeline vandalization, the breakdown of law and order, poorly managed infrastructural facilities and corruption remain synonymous to Nigeria. These acts of terrorism no doubt have constituted a challenge that necessitates the paradigm shift in Nigeria’s foreign policy. The study employed the conceptual framework of analysis to lead interrogation; secondary sources were used to generate data while descriptive and content analysis were considered for data presentation and interpretation. In view of the interrogation and discussion on the subject matter, the paper revealed that Nigerian government underrated and underestimated the strength of terrorism within and outside her policy hence, it becomes difficult to address. As a response to the findings and conclusion of the study, the paper recommends among others that Nigeria’s foreign policy has to be rethought, reshaped and remodeled in cognizance to the rising global terrorism for peace, growth and development in the country.

Keywords: foreign policy, globe, Nigeria, rethinking, terrorism

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5549 The Impact of Corporate Governance Attributes on Dividends Payouts Policy: Evidence from the Emerging Capital Market of Jordan

Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

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Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

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5548 Industrial Policy Directions in Georgia

Authors: Nino Grigolaia

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Introduction - The paper discusses the role of industrial policy in the development of the economy in the country. The main challenges on the way to the implementation of industrial policy are analyzed: the long-term period of industrial policy, the risk of changes in priorities, the limited scope and external shocks. Methodology - Various research methods are used in the paper. The methods of induction, deduction, analysis, synthesis, analogy, correlation and statistical observation are used. Main Findings - Based on the analysis of the current situation in Georgia, the obstacles to the country's industrialization and its supporting factors are identified. Also, the challenges of the country's core industrial policies are revealed. Specific industry development strategies, ways of state support and main directions of new industrial policies are identified. Conclusion - The paper concludes that the development of the industrial sector is critical for the future growth and development of the Georgian economy, which will accelerate the industrialization and structural transformation processes, reduce the trade deficit, increase the exports and create more jobs in the country. The listed changes will guarantee the improvement of the socio-economic situation of the population. Accordingly, it is revealed that the study of industrial policy in Georgia is still actual. Based on the analysis, relevant conclusions in the field of industrialization of the country are developed and recommendations are proposed.

Keywords: industrialization , industrial policy, industrialization of the economy, Georgia priorities

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5547 Similitude for Thermal Scale-up of a Multiphase Thermolysis Reactor in the Cu-Cl Cycle of a Hydrogen Production

Authors: Mohammed W. Abdulrahman

Abstract:

The thermochemical copper-chlorine (Cu-Cl) cycle is considered as a sustainable and efficient technology for a hydrogen production, when linked with clean-energy systems such as nuclear reactors or solar thermal plants. In the Cu-Cl cycle, water is decomposed thermally into hydrogen and oxygen through a series of intermediate reactions. This paper investigates the thermal scale up analysis of the three phase oxygen production reactor in the Cu-Cl cycle, where the reaction is endothermic and the temperature is about 530 oC. The paper focuses on examining the size and number of oxygen reactors required to provide enough heat input for different rates of hydrogen production. The type of the multiphase reactor used in this paper is the continuous stirred tank reactor (CSTR) that is heated by a half pipe jacket. The thermal resistance of each section in the jacketed reactor system is studied to examine its effect on the heat balance of the reactor. It is found that the dominant contribution to the system thermal resistance is from the reactor wall. In the analysis, the Cu-Cl cycle is assumed to be driven by a nuclear reactor where two types of nuclear reactors are examined as the heat source to the oxygen reactor. These types are the CANDU Super Critical Water Reactor (CANDU-SCWR) and High Temperature Gas Reactor (HTGR). It is concluded that a better heat transfer rate has to be provided for CANDU-SCWR by 3-4 times than HTGR. The effect of the reactor aspect ratio is also examined in this paper and is found that increasing the aspect ratio decreases the number of reactors and the rate of decrease in the number of reactors decreases by increasing the aspect ratio. Finally, a comparison between the results of heat balance and existing results of mass balance is performed and is found that the size of the oxygen reactor is dominated by the heat balance rather than the material balance.

Keywords: sustainable energy, clean energy, Cu-Cl cycle, heat transfer, hydrogen, oxygen

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5546 Natural Gas Production Forecasts Using Diffusion Models

Authors: Md. Abud Darda

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Different options for natural gas production in wide geographic areas may be described through diffusion of innovation models. This type of modeling approach provides an indirect estimate of an ultimately recoverable resource, URR, capture the quantitative effects of observed strategic interventions, and allow ex-ante assessments of future scenarios over time. In order to ensure a sustainable energy policy, it is important to forecast the availability of this natural resource. Considering a finite life cycle, in this paper we try to investigate the natural gas production of Myanmar and Algeria, two important natural gas provider in the world energy market. A number of homogeneous and heterogeneous diffusion models, with convenient extensions, have been used. Models validation has also been performed in terms of prediction capability.

Keywords: diffusion models, energy forecast, natural gas, nonlinear production

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5545 Improving the Performance of Gas Turbine Power Plant by Modified Axial Turbine

Authors: Hakim T. Kadhim, Faris A. Jabbar, Aldo Rona, Audrius Bagdanaviciu

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Computer-based optimization techniques can be employed to improve the efficiency of energy conversions processes, including reducing the aerodynamic loss in a thermal power plant turbomachine. In this paper, towards mitigating secondary flow losses, a design optimization workflow is implemented for the casing geometry of a 1.5 stage axial flow turbine that improves the turbine isentropic efficiency. The improved turbine is used in an open thermodynamic gas cycle with regeneration and cogeneration. Performance estimates are obtained by the commercial software Cycle – Tempo. Design and off design conditions are considered as well as variations in inlet air temperature. Reductions in both the natural gas specific fuel consumption and in CO2 emissions are predicted by using the gas turbine cycle fitted with the new casing design. These gains are attractive towards enhancing the competitiveness and reducing the environmental impact of thermal power plant.

Keywords: axial flow turbine, computational fluid dynamics, gas turbine power plant, optimization

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5544 Comparison of Two Maintenance Policies for a Two-Unit Series System Considering General Repair

Authors: Seyedvahid Najafi, Viliam Makis

Abstract:

In recent years, maintenance optimization has attracted special attention due to the growth of industrial systems complexity. Maintenance costs are high for many systems, and preventive maintenance is effective when it increases operations' reliability and safety at a reduced cost. The novelty of this research is to consider general repair in the modeling of multi-unit series systems and solve the maintenance problem for such systems using the semi-Markov decision process (SMDP) framework. We propose an opportunistic maintenance policy for a series system composed of two main units. Unit 1, which is more expensive than unit 2, is subjected to condition monitoring, and its deterioration is modeled using a gamma process. Unit 1 hazard rate is estimated by the proportional hazards model (PHM), and two hazard rate control limits are considered as the thresholds of maintenance interventions for unit 1. Maintenance is performed on unit 2, considering an age control limit. The objective is to find the optimal control limits and minimize the long-run expected average cost per unit time. The proposed algorithm is applied to a numerical example to compare the effectiveness of the proposed policy (policy Ⅰ) with policy Ⅱ, which is similar to policy Ⅰ, but instead of general repair, replacement is performed. Results show that policy Ⅰ leads to lower average cost compared with policy Ⅱ. 

Keywords: condition-based maintenance, proportional hazards model, semi-Markov decision process, two-unit series systems

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5543 Analysis of Policy Issues on Computer-Based Testing in Nigeria

Authors: Samuel Oye Bandele

Abstract:

A policy is a system of principles to guide activities and strategic decisions of an organisation in order to achieve stated objectives and meeting expected outcomes. A Computer Based Test (CBT) policy is therefore a statement of intent to drive the CBT programmes, and should be implemented as a procedure or protocol. Policies are hence generally adopted by an organization or a nation. The concern here, in this paper, is the consideration and analysis of issues that are significant to evolving the acceptable policy that will drive the new CBT innovation in Nigeria. Public examinations and internal examinations in higher educational institutions in Nigeria are gradually making a radical shift from Paper Based or Paper-Pencil to Computer-Based Testing. The need to make an objective and empirical analysis of Policy issues relating to CBT became expedient. The following are some of the issues on CBT evolution in Nigeria that were identified as requiring policy backing. Prominent among them are requirements for establishing CBT centres, purpose of CBT, types and acquisition of CBT equipment, qualifications of staff: professional, technical and regular, security plans and curbing of cheating during examinations, among others. The descriptive research design was employed based on a population consisting of Principal Officers (Policymakers), Staff (Teaching and non-Teaching-Policy implementors), and CBT staff ( Technical and Professional- Policy supports) and candidates (internal and external). A fifty-item researcher-constructed questionnaire on policy issues was employed to collect data from 600 subjects drawn from higher institutions in South West Nigeria, using the purposive and stratified random sampling techniques. Data collected were analysed using descriptive (frequency counts, means and standard deviation) and inferential (t-test, ANOVA, regression and Factor analysis) techniques. Findings from this study showed, among others, that the factor loadings had significantly weights on the organizational and National policy issues on CBT innovation in Nigeria.

Keywords: computer-based testing, examination, innovation, paper-based testing, paper pencil based testing, policy issues

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5542 An Empirical Investigation of Uncertainty and the Lumpy Investment Channel of Monetary Policy

Authors: Min Fang, Jiaxi Yang

Abstract:

Monetary policy could be less effective at stimulating investment during periods of elevated volatility than during normal times. In this paper, we argue that elevated volatility leads to a decrease in extensive margin investment incentive so that nominal stimulus generates less aggregate investment. To do this, we first empirically document that high volatility weakens firms’ investment responses to monetary stimulus. Such effects depend on the lumpiness nature of the firm-level investment. The findings are that the channel exists for all of the physical investment, innovation investment, and organization investment.

Keywords: investment, irreversibility, volatility, uncertainty, firm heterogeneity, monetary policy

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5541 Consumer Market of Agricultural Products and Agricultural Policy in Georgia

Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, M. Saghareishvili

Abstract:

The article discusses the consumer market of agricultural products and agricultural policy in Georgia. It is noted that development of the strategic areas of the agricultural sector needs a special support. These strategic areas should create the country's major export potential. It is important to develop strategies to access to the international markets, form extensive marketing network etc., which will become the basis for the promotion and revenue growth of the country. The Georgian agricultural sector, with the right state policy and support, can achieve success and gain access to the world market with competitive agricultural products. The paper discusses the current condition of agriculture, export and import of agricultural products and agricultural policy in Georgia. The conducted research concludes the information that there is an increasing demand on the green goods in the world market. Natural and climatic conditions of Georgia give a serious possibility of implementing it. The research presents an agricultural development strategy in Georgia and the findings and based on them recommendations are proposed.

Keywords: agriculture, export-import of agricultural products, agricultural cooperative society, agricultural policy, agricultural insurance

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5540 Towards Renewable Energy: A Qualitative Study of Biofuel Development Policy in Indonesia

Authors: Arie Yanwar Kapriadi

Abstract:

This research is aiming to develop deeper understanding of the scale of power that shaped the biofuel policy. This research is important for the following reasons. Firstly, this research will enrich the body of literature within the field of political ecology, scale and environmental governance. Secondly, by focussing on energy transition policies, this research offers a critical perspective on how government policy, aimed at delivering low carbon sustainable energy systems, being scaled and implemented through multi variate stakeholders. Finally, the research could help the government of Indonesia as a policy evaluation on delivering low carbon sustainable energy systems at the macro level that (possibility) being unable to be delivered at different scale and instead being perceived differently by different stakeholders. Qualitative method is applied particularly an in depth interview with government officials as well as policy stakeholders outside of government and people in positions of responsibility with regards to policy delivery. There are 4 field study location where interview took place as well as sites visit to some biofuel refining facilities. There are some major companies which involve on the production and distribution of biofuel and its relation with biofuel feedstock industry as the source of data. The research investigates how the government biofuel policies correlated with other policy issues such as land reclassification and carbon emission reduction which also influenced plantations expansion as well as its impact on the local people. The preliminary result shows tension of power between governing authorities caused the Indonesian biofuel policy being unfocused which led to failing to meet its mandatory blending target despite the abundance of its feedstock.

Keywords: biofuel, energy transition, renewable energy, political ecology

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5539 Effect of Evaporator Temperature on the Performance of Water Desalination/Refrigeration Adsorption System Using AQSOA-ZO2

Authors: Peter G. Youssef, Saad M. Mahmoud, Raya K. AL-Dadah

Abstract:

Many water desalination technologies have been developed but in general they are energy intensive and have high cost and adverse environmental impact. Recently, adsorption technology for water desalination has been investigated showing the potential of using low temperature waste heat (50-85oC) thus reducing energy consumption and CO2 emissions. This work mathematically compares the performance of an adsorption cycle that produces two useful effects namely, fresh water and cooling using two different adsorbents, silica-gel and an advanced zeolite material AQSOA-ZO2, produced by Mitsubishi plastics. It was found that at low chilled water temperatures, typically below 20oC, the AQSOA-Z02 is more efficient than silica-gel as the cycle can produce 5.8 m3 of fresh water per day and 50.1 Rton of cooling per tonne of AQSOA-ZO2. Above 20oC silica-gel is still better as the cycle production reaches 8.4 m3 per day and 62.4 Rton per tonne of silica-gel. These results show the potential of using the AQSOA-Z02 at low chilled water temperature for water desalination and cooling applications.

Keywords: adsorption, desalination, refrigeration, seawater

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5538 The Modeling of City Bus Fuel Economy during the JE05 Emission Test Cycle

Authors: Miroslaw Wendeker, Piotr Kacejko, Marcin Szlachetka, Mariusz Duk

Abstract:

This paper discusses a model of fuel economy in a city bus driving in a dynamic urban environment. Rapid changes in speed result in a constantly changing kinetic energy accumulated in a bus mass and an increased fuel consumption due to hardly recuperated kinetic energy. The model is based on the bench test results achieved from chassis dynamometer, airport and city street researches. The verified model was applied to simulate the behavior of a bus during the Japanese JE05 Emission Test Cycle. The fuel consumption was calculated for three separate research stages, i.e. urban, downtown and motorway. The simulations were performed for several values of vehicle mass and electrical load applied to on-board devices. The research results show fuel consumption is impacted by driving dynamics.

Keywords: city bus, heavy duty vehicle, Japanese JE05 test cycle, kinetic energy

Procedia PDF Downloads 316