Search results for: allocation effect

Authors: Hung Hing Chan, Tai-Shan Hu

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Kaohsiung has been an industrial city of Taiwan for over a hundred year. Consequently, there are several abandoned industrial lands left when the process of deindustrialization has started, resulting in the decay of the adjacent urban communities. These industrial lands, which are brownfields that are potentially or already contaminated by hazardous substances, have created social injustice to the surrounding communities. The redevelopments of industrial lands bring a sustainable development to the communities, while the redevelopments can be in different forms, depending on the natural conditions. This research studies the possible approaches to facilitate social sustainability of urban regeneration resulted from the industrial land redevelopment projects, which has always been ignored. The aim of the research is to find out the best western practices of brownfield redevelopment to facilitate social aspect of sustainable urban regeneration and make a contribution to the industrial land redevelopment of Taiwan. The research is conducted via literature review and case study. Industrial land redevelopment has been a social focus in the blighted communities to promote urban regeneration after the post-industrial age. The tendency of this kind of redevelopment is towards constructing the built environment, as a result the environmental and economic aspect of sustainability of the redeveloped industrial land will be boosted, while the social aspect will not be necessarily better since the local communities affected are rarely engaged in the decision-making process and inadequate resource allocation to the projects is not guaranteed. To ensure the improvement of social sustainability is reached, the recommendations of this research, such as civic engagement, a formation of dedicated brownfield regeneration agency and resource allocation to employ brownfield process manager and to strategic communication, should be incorporated into the real practices of industrial land-led urban regeneration. Besides, the case study also shows that the social sustainability of industrial land-led urban regeneration can be promoted by (1) upholding the local feature and public participation in the regeneration process, (2) allocating resources and enforcing responsibility system, and (3) assuring financial resource for the urban regeneration projects and residents. Subsequent research will involve in-depth interviews with the chiefs of the village of related communities in Kaohsiung and questionnaire with the community members to comprehend their opinions regarding social sustainability, aiming at evaluating the social sustainability and finding out which kind of redevelopment project tends to support the social dimension of sustainable development more.

Keywords: brownfield, industrial land, redevelopment, social sustainability, urban regeneration

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Authors: Slava Kalyuga, Sujanya Sombatteera

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In multimedia learning, written text is often transformed into spoken (narrated) text. This transient information may overwhelm limited processing capacity of working memory and inhibit learning instead of improving it. The paper reviews recent empirical studies in modality and verbal redundancy effects within a cognitive load framework and outlines conditions under which negative effects of transiency may occur. According to the modality effect, textual information accompanying pictures should be presented in an auditory rather than visual form in order to engage two available channels of working memory – auditory and visual - instead of only one of them. However, some studies failed to replicate the modality effect and found differences opposite to those expected. Also, according to the multimedia redundancy effect, the same information should not be presented simultaneously in different modalities to avoid unnecessary cognitive load imposed by the integration of redundant sources of information. However, a few studies failed to replicate the multimedia redundancy effect too. Transiency of information is used to explain these controversial results.

Keywords: cognitive load, transient information, modality effect, verbal redundancy effect

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Authors: S. Sulaiman, M. A. Razak, M. R. Ibrahim, A. A. Khan

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An experimental work on the effect of different current and pulse duration on performance of EDM process of Allegheny Ludlum D2 Tool Steel (UNS T30402). The effect of varying the machining parameters on the machining responses such as material removal rate (MRR), electrode wear rate (EWR), and surface roughness (Ra) have been investigated. In this study, triangular shape and circular shape of copper was used as an electrode with surface area of 100 mm². The experiments were repeated for three different values of pulse duration (100 µs, 200 µs and 400 µs) with combination of three different values of discharge current (12 A, 16 A and 24 A). It was found that the pulse duration and current have significant effect on MRR, EWR and Ra. An increase in the pulse durations causes an increase in the MRR and Ra, but a decrease in the EWR. Meanwhile, the effect of currents on EDM performance shows that the increasing currents lead to an increase in the MRR, EWR and Ra.

Keywords: allegheny ludlum D2 tool steel, current, EDM, surface roughness, pulse duration

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Authors: Varsha Prasad, S. Sandya

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Cosmic Ray effects in microelectronics such as single event effect (SET) and total dose ionization (TID) have been of major concern in space electronics since 1970. Advanced CMOS technologies have demonstrated reduced sensitivity to TID effect. However, charge pump Phase Locked Loop is very much vulnerable to single event transient effect. This paper presents an SET analysis model, where the SET is modeled as a double exponential pulse. The time domain analysis reveals that the settling time of the voltage controlled oscillator (VCO) depends on the SET pulse strength, setting the time constant and the damping factor. The analysis of the proposed SET analysis model is confirmed by the simulation results.

Keywords: charge pump, phase locked loop, SET, VCO

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Authors: Hayder Raad Hafuze, Munqith Saleem Dawood, Jamal Abdul Jabbar

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The effect of using both ultrasounds with laser in medical imaging of the biological tissue has been studied in this paper. Different wave lengths of incident laser light (405 nm, 532 nm, 650 nm, 808 nm and 1064 nm) were used with different ultrasound frequencies (1MHz and 3.3MHz). The results showed that, the change of acoustic intensity enhance the laser penetration of the tissue for different thickness. The existence of the ideal Raman-Nath diffraction pattern were investigated in terms of phase delay and incident angle.

Keywords: tissue, laser, ultrasound, effect, imaging

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Authors: Yanshuang Zhang, Byungho Jeong

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There exists some time lag between the consumption of inputs and the production of outputs. This time lag effect should be considered in calculating efficiency of decision making units (DMU). Recently, a couple of DEA models were developed for considering time lag effect in efficiency evaluation of research activities. However, these models can’t discriminate efficient DMUs because of the nature of basic DEA model in which efficiency scores are limited to ‘1’. This problem can be resolved a super-efficiency model. However, a super efficiency model sometimes causes infeasibility problem. This paper suggests an output oriented super-efficiency model for efficiency evaluation under the consideration of time lag effect. A case example using a long term research project is given to compare the suggested model with the MpO model

Keywords: DEA, Super-efficiency, Time Lag, research activities

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Authors: S. Phanyaem

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This paper presents the confidence intervals for the effect size base on bootstrap resampling method. The meta-analytic confidence interval for effect size is proposed that are easy to compute. A Monte Carlo simulation study was conducted to compare the performance of the proposed confidence intervals with the existing confidence intervals. The best confidence interval method will have a coverage probability close to 0.95. Simulation results have shown that our proposed confidence intervals perform well in terms of coverage probability and expected length.

Keywords: effect size, confidence interval, bootstrap method, resampling

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Authors: Massimo Tadi, M. Hadi Mohammad Zadeh, Ozge Ogut

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Although how cities’ forms are structured is studied, more efforts are needed on systemic comprehensions and evaluations of the urban morphology through quantitative metrics that are able to describe the performance of a city in relation to its formal properties. More research is required in this direction in order to better describe the urban form characteristics and their impact on the environmental performance of cities and to increase their sustainability stewardship. With the aim of developing a better understanding of the built environment’s systemic structure, the intention of this paper is to present a holistic methodology for studying the behavior of the built environment and investigate the methods for measuring the effect of urban structure to the environmental performance. This goal will be pursued through an inquiry into the morphological components of the urban systems and the complex relationships between them. Particularly, this paper focuses on proximity, referring to the proximity of different land-uses, is a concept with which Integrated Modification Methodology (IMM) explains how land-use allocation might affect the choice of mobility in neighborhoods, and especially, encourage or discourage non-motived mobility. This paper uses proximity to demonstrate that the structure attributes can quantifiably relate to the performing behavior in the city. The target is to devise a mathematical pattern from the structural elements and correlate it directly with urban performance indicators concerned with environmental sustainability. The paper presents some results of this rigorous investigation of urban proximity and its correlation with performance indicators in four different areas in the city of Milan, each of them characterized by different morphological features.

Keywords: built environment, ecology, sustainable indicators, sustainability, urban morphology

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Authors: Kawsar Ahmed, Hong Wang

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The study's goal was to estimate the causal mediation impact of tobacco tax before and after price hikes among low-income male smokers, with a particular emphasis on the effect estimating pathways framework for continuous and dichotomous variables. From July to December 2021, a cross-sectional investigation of observational data (n=739) was collected from Bangladeshi low-wage smokers. The Quasi-Bayesian technique, binomial probit model, and sensitivity analysis using a simulation of the computational tools R mediation package had been used to estimate the effect. After a price rise for tobacco products, the average number of cigarettes or bidis sticks taken decreased from 6.7 to 4.56. Tobacco product rising prices have a direct effect on low-income people's decisions to quit or lessen their daily smoking habits of Average Causal Mediation Effect (ACME) [effect=2.31, 95 % confidence interval (C.I.) = (4.71-0.00), p<0.01], Average Direct Effect (ADE) [effect=8.6, 95 percent (C.I.) = (6.8-0.11), p<0.001], and overall significant effects (p<0.001). Tobacco smoking choice is described by the mediated proportion of income effect, which is 26.1% less of following price rise. The curve of ACME and ADE is based on observational figures of the coefficients of determination that asses the model of hypothesis as the substantial consequence after price rises in the sensitivity analysis. To reduce smoking product behaviors, price increases through taxation have a positive causal mediation with income that affects the decision to limit tobacco use and promote low-income men's healthcare policy.

Keywords: causal mediation analysis, directed acyclic graphs, tobacco price policy, sensitivity analysis, pathway estimation

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Authors: Yena Lee, Vassilis M. Charitopoulos, Karthik Thyagarajan, Ian Morris, Jose M. Pinto, Lazaros G. Papageorgiou

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With globalisation, the need to have better coordination of production and distribution decisions has become increasingly important for industrial gas companies in order to remain competitive in the marketplace. In this work, we investigate a problem that integrates production, inventory, and routing decisions in a liquid oxygen supply chain. The oxygen supply chain consists of production facilities, external third-party suppliers, and multiple customers, including hospitals and industrial customers. The product produced by the plants or sourced from the competitors, i.e., third-party suppliers, is distributed by a fleet of heterogenous vehicles to satisfy customer demands. The objective is to minimise the total operating cost involving production, third-party, and transportation costs. The key decisions for production include production and inventory levels and product amount from third-party suppliers. In contrast, the distribution decisions involve customer allocation, delivery timing, delivery amount, and vehicle routing. The optimisation of the coordinated production, inventory, and routing decisions is a challenging problem, especially when dealing with large-size problems. Thus, we present a two-stage procedure to solve the integrated problem efficiently. First, the problem is formulated as a mixed-integer linear programming (MILP) model by simplifying the routing component. The solution from the first-stage MILP model yields the optimal customer allocation, production and inventory levels, and delivery timing and amount. Then, we fix the previous decisions and solve a detailed routing. In the second stage, we propose a column generation scheme to address the computational complexity of the resulting detailed routing problem. A case study considering a real-life oxygen supply chain in the UK is presented to illustrate the capability of the proposed models and solution method. Furthermore, a comparison of the solutions from the proposed approach with the corresponding solutions provided by existing metaheuristic techniques (e.g., guided local search and tabu search algorithms) is presented to evaluate the efficiency.

Keywords: production planning, inventory routing, column generation, mixed-integer linear programming

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Authors: Narendra Akhadkar, Philippe Delcambre

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In power protection and control products, assembly process variations due to the individual parts manufactured from single or multi-cavity tooling is a major problem. The dimensional and geometrical variations on the individual parts, in the form of manufacturing tolerances and assembly tolerances, are sources of clearance in the kinematic joints, polarization effect in the joints, and tolerance stack-up. All these variations adversely affect the quality of product, functionality, cost, and time-to-market. Variation simulation analysis may be used in the early product design stage to predict such uncertainties. Usually, variations exist in both manufacturing processes and materials. In the tolerance analysis, the effect of the dimensional and geometrical variations of the individual parts on the functional characteristics (conditions) of the final assembled products are studied. A functional characteristic of the product may be affected by a set of interrelated dimensions (functional parameters) that usually form a geometrical closure in a 3D chain. In power protection and control products, the prerequisite is: when a fault occurs in the electrical network, the product must respond quickly to react and break the circuit to clear the fault. Usually, the response time is in milliseconds. Any failure in clearing the fault may result in severe damage to the equipment or network, and human safety is at stake. In this article, we have investigated two important functional characteristics that are associated with the robust performance of the product. It is demonstrated that the experimental data obtained at the Schneider Electric Laboratory prove the very good prediction capabilities of the variation simulation performed using CETOL (tolerance analysis software) in an industrial context. Especially, this study allows design engineers to better understand the critical parts in the product that needs to be manufactured with good, capable tolerances. On the contrary, some parts are not critical for the functional characteristics (conditions) of the product and may lead to some reduction of the manufacturing cost, ensuring robust performance. The capable tolerancing is one of the most important aspects in product and manufacturing process design. In the case of miniature circuit breaker (MCB), the product's quality and its robustness are mainly impacted by two aspects: (1) allocation of design tolerances between the components of a mechanical assembly and (2) manufacturing tolerances in the intermediate machining steps of component fabrication.

Keywords: geometrical variation, product robustness, tolerance analysis, variation simulation

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Authors: Terentes Printzios Dimitrios, Loanna Gourgouli, Vlachopoulos Charalambos

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Aims: Atrial fibrillation (AF) remains one of the major causes of stroke, heart failure, sudden death and cardiovascular morbidity. Ablation techniques are becoming more appealing after the latest results of randomized trials showing the overall clinical benefit. On the other hand, imaging techniques and the frontier application of 3D printing are emerging as a valuable ally for cardiac procedures. However, no randomized trial has directly assessed the impact of preprocedural imaging and especially 3D printing guidance for AF ablation. The present study is designed to investigate for the first time the effect of 3D printing of the heart on the safety and effectiveness of the ablation procedure. Methods and design: The 3D-GALA trial is a randomized, open-label, controlled, multicentre clinical trial of 2 parallel groups designed to enroll a total of 100 patients undergoing ablation using cryo-balloon for paroxysmal and persistent AF. Patients will be randomized with a patient allocation ratio of 1: 1 to preprocedural MRI scan of the heart and 3D printing of left atrium and pulmonary veins and cryoablation versus standard cryoablation without imaging. Patients will be followed up to 6 months after the index procedure. The primary outcome measure is the reduction of radiation dose and contrast amount during pulmonary veins isolation. Secondary endpoints will include the percentage of atrial fibrillation relapse at 24h-Holter electrocardiogram monitoring at 6 months after initial treatment. Discussion: To our knowledge, the 3D-GALA trial will be the first study to provide evidence about the clinical impact of preprocedural imaging and 3D printing before cryoablation.

Keywords: atrial fibrillation, cardiac MRI, cryoablation, 3-d printing

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Authors: Abdelghafour Galadi

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In this paper, accurate power MOSFET models including quasi-saturation effect are presented. These models have no internal node voltages determined by the circuit simulator and use one JFET or one depletion mode MOSFET transistors controlled by an “effective” gate voltage taking into account the quasi-saturation effect. The proposed models achieve accurate simulation results with an average error percentage less than 9%, which is an improvement of 21 percentage points compared to the commonly used standard power MOSFET model. In addition, the models can be integrated in any available commercial circuit simulators by using their analytical equations. A description of the models will be provided along with the parameter extraction procedure.

Keywords: power MOSFET, drift layer, quasi-saturation effect, SPICE model

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Authors: Dimitrios J. Dimitriou

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Airport’s serving a tourist destination are an essential counterpart of the tourist demand supply chain, and their productivity is related to the region’s attractiveness and is enhanced by the air transport business. In this paper, the evaluation framework of the scheduled flights between two tourist airports is taken into consideration. By adopting a systemic approach, the arrivals from an airport that its connectivity heavily depended on the departures of another major airport are reviewed. The methodology framework, based on inventory control theory and the numerical example, promotes the use of the modelling formulation. The results would be essential for comparison and exercising to other similar cases.

Keywords: airport connectivity, inventory control, optimization, optimum allocation

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Authors: Eyyup Murat Karakurt, Yan Huang, Mehmet Kaya, Huseyin Demirtas

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In this study, the effect of the porosity effect of Ti-20Zr alloy produced by powder metallurgy as a biomaterial was investigated experimentally. The Ti based alloys (Ti-20%Zr (at.) were produced under 300 MPa, for 6 h at 1200 °C. Afterward, the microstructure of the Ti-based alloys was analyzed by optical analysis, scanning electron microscopy, energy dispersive spectrometry. Moreover, compression tests were applied to determine the mechanical behaviour of samples. As a result, highly porous Ti-20Zr alloys exhibited an elastic modulus close to human bone. The results later were compared theoretically and experimentally.

Keywords: porosity effect, Ti based alloys, elastic modulus, compression test

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Authors: Felipe Riveros, Ricardo Alvarez, Claudia Rahmann, Rodrigo Moreno

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Around the world, many countries have committed to a decarbonization of their electricity system. Under this global drive, converter-interfaced generators (CIG) such as wind and photovoltaic generation appear as cornerstones to achieve these energy targets. Despite its benefits, an increasing use of CIG brings several technical challenges in power systems, especially from a stability viewpoint. Among the key differences are limited short circuit current capacity, inertia-less characteristic of CIG, and response times within the electromagnetic timescale. Along with the integration of CIG into the power system, one enabling technology for the energy transition towards low-carbon power systems is battery energy storage systems (BESS). Because of the flexibility that BESS provides in power system operation, its integration allows for mitigating the variability and uncertainty of renewable energies, thus optimizing the use of existing assets and reducing operational costs. Another characteristic of BESS is that they can also support power system stability by injecting reactive power during the fault, providing short circuit currents, and delivering fast frequency response. However, most methodologies for sizing and allocating BESS in power systems are based on economic aspects and do not exploit the benefits that BESSs can offer to system stability. In this context, this paper presents a methodology for determining the optimal allocation of battery energy storage systems (BESS) in weak power systems with high levels of CIG. Unlike traditional economic approaches, this methodology incorporates stability constraints to allocate BESS, aiming to mitigate instability issues arising from weak grid conditions with low short-circuit levels. The proposed methodology offers valuable insights for power system engineers and planners seeking to maintain grid stability while harnessing the benefits of renewable energy integration. The methodology is validated in the reduced Chilean electrical system. The results show that integrating BESS into a power system with high levels of CIG with stability criteria contributes to decarbonizing and strengthening the network in a cost-effective way while sustaining system stability. This paper potentially lays the foundation for understanding the benefits of integrating BESS in electrical power systems and coordinating their placements in future converter-dominated power systems.

Keywords: battery energy storage, power system stability, system strength, weak power system

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Authors: A. A. Azab

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In this work, Sm0.6Sr0.4CoxMn1-xO3 (x=0, 0.1, 0.2 and 0.3) was synthesized by sol-gel method for magnetocaloric effect (MCE) applications. XRD analysis confirmed formation of the required orthorhombic phase of perovskite, and there is crystallographic phase transition as a result of substitution. Maxwell-Wagner interfacial polarisation and Koops phenomenological theory were used to investigate and analyze the temperature and frequency dependency of the dielectric permittivity. The phase transition from the ferromagnetic to the paramagnetic state was demonstrated to be second order. Based on the isothermal magnetization curves obtained at various temperatures, the magnetic entropy change was calculated. A magnetocaloric effect (MCE) over a wide temperature range was studied by determining DSM and the relative cooling power (RCP).

Keywords: magnetocaloric effect, pperovskite, magnetic phase transition, dielectric permittivity

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Authors: Hangil Park, Hwayeon Song, Jingyung Sim

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In this study, a business ecosystem of a domestic space industry is comprehensively analyzed to derive the influence factors. The priority level of each element as well as the disparity between the ideal and reality are investigated through a literature review and an expert survey. The three major influence factors determined are: (a) investment scale and approach, (b) propulsion system, and (c) industrialization with overseas expansion. Related issues based on the current status are evaluated, followed by a proposed activation strategy. This research's findings offer a direction for R&D budget allocation and law system maintenance for the activation of the domestic space industry.

Keywords: space industry, activation, strategy, business ecosystem

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Authors: Ririh Rahma Ratinghayu, Jayu Pramudya, Nur Aini Masruroh, Shi-Woei Lin

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This research studies pricing strategy in cooperative setting of hotel duopoly selling perishable product under fixed capacity constraint by using the perspective of managers. In hotel revenue management, competitor’s average room rate and occupancy rate should be taken into manager’s consideration in determining pricing strategy to generate optimum revenue. This information is not provided by business intelligence or available in competitor’s website. Thus, Information Sharing (IS) among players might result in improved performance of pricing strategy. IS is widely adopted in the logistics industry, but IS within hospitality industry has not been well-studied. This research put IS as one of cooperative game schemes, besides Mutual Price Setting (MPS) scheme. In off-peak season, hotel manager arranges pricing strategy to offer promotion package and various kinds of discounts up to 60% of full-price to attract customers. Competitor selling homogenous product will react the same, then triggers a price war. Price war which generates lower revenue may be avoided by creating collaboration in pricing strategy to optimize payoff for both players. In MPS cooperative game, players collaborate to set a room rate applied for both players. Cooperative game may avoid unfavorable players’ payoff caused by price war. Researches on horizontal cooperative game in logistics show better performance and payoff for the players, however, horizontal cooperative game in hotel revenue management has not been demonstrated. This paper aims to develop hotel revenue management models under duopoly cooperative schemes (IS & MPS), which are compared to models under non-cooperative scheme too. Each scheme has five models, Capacity Allocation Model; Demand Model; Revenue Model; Optimal Price Model; and Equilibrium Price Model. Capacity Allocation Model and Demand Model employs self-hotel and competitor’s full and discount price as predictors under non-linear relation. Optimal price is obtained by assuming revenue maximization motive. Equilibrium price is observed by interacting self-hotel’s and competitor’s optimal price under reaction equation. Equilibrium is analyzed using game theory approach. The sequence applies for three schemes. MPS Scheme differently aims to optimize total players’ payoff. The case study in which theoretical models are applied observes two hotels offering homogenous product in Indonesia during a year. The Capacity Allocation, Demand, and Revenue Models are built using multiple regression and statistically tested for validation. Case study data confirms that price behaves within demand model in a non-linear manner. IS Models can represent the actual demand and revenue data better than Non-IS Models. Furthermore, IS enables hotels to earn significantly higher revenue. Thus, duopoly hotel players in general, might have reasonable incentives to share information horizontally. During off-peak season, MPS Models are able to predict the optimal equal price for both hotels. However, Nash equilibrium may not always exist depending on actual payoff of adhering or betraying mutual agreement. To optimize performance, horizontal cooperative game may be chosen over non-cooperative game. Mathematical models can be used to detect collusion among business players. Empirical testing can be used as policy input for market regulator in preventing unethical business practices potentially harming society welfare.

Keywords: horizontal cooperative game theory, hotel revenue management, information sharing, mutual price setting

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Authors: Amit Kumar, Jaikumar V, Pradeep AG, Shivakumar Bhavi

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Reducing sloshing is one of the major challenges in industries where transporting of liquid involved. The present study investigates the sloshing effect for different liquid levels 25%, 50%, and 75% of the tank capacity. CFD simulation for three different liquid levels has been carried out using a time-based multiphase Volume of fluid (VOF) scheme. Baffles were introduced to examine the sloshing effect inside the tank. Results were compared against the baseline case to assess the effectiveness of baffles. Maximum liquid height over the period of the simulation was considered as the parameter for measuring the sloshing effect inside the tank. It was found that the addition of baffles reduced the sloshing effect inside the tank as compared to the baseline model.

Keywords: sloshing, CFD, VOF, baffles

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Authors: M. Duran Toksari, Berrin Ucarkus

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In this paper, we propose two algorithms to optimally solve makespan and total completion time scheduling problems with learning effect and job dependent delivery times in a single machine environment. The delivery time is the extra time to eliminate adverse effect between the main processing and delivery to the customer. In this paper, we introduce the job dependent delivery times for some single machine scheduling problems with position dependent learning effect, which are makespan are total completion. The results with respect to two algorithms proposed for solving of the each problem are compared with LINGO solutions for 50-jobs, 100-jobs and 150-jobs problems. The proposed algorithms can find the same results in shorter time.

Keywords: delivery Times, learning effect, makespan, scheduling, total completion time

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Authors: A. Hidalgo, A. Desportes, E. Bonin, A. Kadaoui, T. Bouaricha

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Present paper is concerned with portfolio management with Black-Litterman (B-L) model. Considered stocks are exclusively limited to large companies stocks on US market. Results obtained by application of the model are presented. From analysis of collected Dow Jones stock data, remarkable explicit analytical expression of optimal B-L parameter τ, which scales dispersion of normal distribution of assets mean return, is proposed in terms of standard deviation of covariance matrix. Implementation has been developed in Matlab environment to split optimization in Markovitz sense from specific elements related to B-L representation.

Keywords: Black-Litterman, Markowitz, market data, portfolio manager opinion

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Authors: Eid Alotaibi

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The purpose of this study is to investigate the impact of tourists’ culture on perception and evaluation of hotel service experience and behavioral intentions. Drawing on Hofested’s cultural dimensions, this study seeks to further contribute towards understanding the effect of culture on perception and evaluation of hotels’ services, and whether there are differences between Saudi and European tourists’ perceptions of hotel services evaluation. A descriptive cross-sectional design was used in this study. Data were collected from tourists staying in five-star hotels in Saudi Arabia using the self-completion technique. The findings show that evaluations of hotel services differ from one culture to another. T-test results reveal that Saudis were more tolerant and reported significantly higher levels of satisfaction, were more likely to return and recommend the hotel, and perceived the price for the hotel stay as being good value for money as compared to their European counterparts. The sample was relatively small and specific to only five-star hotel evaluations. As a result, findings cannot be generalized to the wider tourist population. The results of this research have important implications for management within the Saudi hospitality industry. The study contributes to the tourist cultural theory by emphasizing the relative importance of cultural dimensions in-service evaluation. The author argues that no studies could be identified that compare Saudis and Europeans in their evaluations of their experiences staying at hotels. Therefore, the current study would enhance understanding of the effects of cultural factors on service evaluations and provide valuable input for international market segmentation and resource allocation in the Saudi hotel industry.

Keywords: culture, tourist, service experience, hotel industry, Hofested’s cultural dimensions

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Authors: Mayank Mishra

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Market Economy can be broadly defined as economic system where supply and demand regulate the economy and in which decisions pertaining to production, consumption, allocation of resources, price and competition are made by collective actions of individuals or organisations with limited government intervention. On the other hand Market Society is one where instead of the economy being embedded in social relations, social relations are embedded in the economy. A market economy becomes a market society when all of land, labour and capital are commodified. This transition also has effect on people’s attitude and values. Such a transition commence impacting the non-material aspect of life such as public education, public health and the like. The inception of neoliberal policies in non-market norms altered the nature of social goods like public health that raised the following questions. What impact would the transition to a market society make on people in terms of accessibility to public health? Is healthcare a commodity that can be subjected to a competitive market place? What kind of private investments are being made in public health and how do private investments alter the nature of a public good like healthcare? This research problem will employ empirical-analytical approach that includes deductive reasoning which will be using the existing concept of market economy and market society as a foundation for the analytical framework and the hypotheses to be examined. The research also intends to inculcate the naturalistic elements of qualitative methodology which refers to studying of real world situations as they unfold. The research will analyse the existing literature available on the subject. Concomitantly the research intends to access the primary literature which includes reports from the World Bank, World Health Organisation (WHO) and the different departments of respective ministries of the countries for the analysis. This paper endeavours to highlight how the issue of commodification of public health would lead to perpetual increase in its inaccessibility leading to stratification of healthcare services where one can avail the better services depending on the extent of one’s ability to pay. Since the fundamental maxim of private investments is to churn out profits, these kinds of trends would pose a detrimental effect on the society at large perpetuating the lacuna between the have and the have-nots.The increasing private investments, both, domestic and foreign, in public health sector are leading to increasing inaccessibility of public health services. Despite the increase in various public health schemes the quality and impact of government public health services are on a continuous decline.

Keywords: commodity, India and Pakistan, market society, public health

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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

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Authors: Goodness C. Aye

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This paper examines the effect of the volatility of oil prices on food price in South Africa using monthly data covering the period 2002:01 to 2014:09. Food price is measured by the South African consumer price index for food while oil price is proxied by the Brent crude oil. The study employs the GARCH-in-mean VAR model, which allows the investigation of the effect of a negative and positive shock in oil price volatility on food price. The model also allows the oil price uncertainty to be measured as the conditional standard deviation of a one-step-ahead forecast error of the change in oil price. The results show that oil price uncertainty has a positive and significant effect on food price in South Africa. The responses of food price to a positive and negative oil price shocks is asymmetric.

Keywords: oil price volatility, food price, bivariate, GARCH-in-mean VAR, asymmetric

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Authors: Vera Diyanty, Akhmad Syahroza

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This research aims to describe an empirical evidence of the influence of family control on the company’s financing policy. Additionally, this research also shows the effect of leadership from family member and the effectiveness of the board of commissioners on companies’ financing policy. The result of this study found that family control through direct and indirect ownership mechanism have a positive impact on the choice of bank loan compare to public debt. Nevertheless, this research also shows that companies’ founders who become CEO and the effectiveness of board of commissioners do not prove to increase the alignment effect nor decrease the negative impact of entrenchment effect on the bank loan preference.

Keywords: family controlling, family CEO, board effectiveness, financing policy

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Authors: Yi Jin, Xu Tang, Cuiyang Feng

Abstract:

The ‘11th five-year’ and ‘12th five-year’ plans have clearly put forward to strictly control the total amount and intensity of energy and water consumption. The synergy effect of energy and water has rarely been considered in the process of energy and water saving in China, where its contribution cannot be maximized. Energy sectors consume large amounts of energy and water when producing massive energy, which makes them both energy and water intensive. Therefore, the synergy effect in these sectors is significant. This paper assesses and optimizes the synergy effect in three energy sectors under the background of promoting energy and water saving. Results show that: From the perspective of critical path, chemical industry, mining and processing of non-metal ores and smelting and pressing of metals are coupling points in the process of energy and water flowing to energy sectors, in which the implementation of energy and water saving policies can bring significant synergy effect. Multi-objective optimization shows that increasing efforts on input restructuring can effectively improve synergy effects; relatively large synergetic energy saving and little water saving are obtained after solely reducing the energy and water intensity of coupling sectors. By optimizing the input structure of sectors, especially the coupling sectors, the synergy effect of energy and water saving can be improved in energy sectors under the premise of keeping economy running stably.

Keywords: critical path, energy sector, multi-objective optimization, synergy effect, water

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Authors: Lukman O. Alimi, Vincent J. Smith, Leonard J. Barbour

Abstract:

The thermosalient effect is an extremely rare propensity of certain crystalline solids for self-actuation by elastic deformation or a ballistic event1. Thermosalient compounds, colloquially known as ‘jumping crystals’ are promising materials for fabrication of actuators that are also being considered as materials for clean energy conversion because of their capabilities to convert thermal energy into mechanical motion directly. Herein, an organic aminonitrile and its derivatives have been probed by a combination of structural, microscopic and thermoanalytical techniques. Crystals of these compounds were analysed by means of single crystal XRD and hotstage microscopy in the temperature range of 100 to 298 K and found to exhibit the thermosalient effect. We also carried out differential scanning calorimetric analysis at the temperature corresponding to that at which the crystal jumps as observed under a hotstage microscope.

Keywords: aminonitrile, jumping crystal, self actuation, thermosalient effect

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Authors: Nursen Saklakoglu, Adnan Turker

Abstract:

The main objective of this study is to reveal the effect of the Thixoforming process on the microstructure and mechanical properties of the AlSi12 alloy with trace amounts of silver. It is concluded that Thixoforming has an important effect on the morphology of intermetallics and Si formation, as well as globular α-Al morphology. The intermetallics have been fractured during thixoforming. It is believed that the fine distribution of the intermetallics is one mechanism for the improved mechanical properties of Thixoformed alloys. The discrete Si particles have been observed during both isothermal heating to the semi-solid range and Thixoforming, also have an important effect on mechanical properties. The Thixoforming process has a greater effect on hardness than the addition of Ag does.

Keywords: AlSi alloys, intermetallic phases, mechanical properties trace element, silver, thixoforming

Procedia PDF Downloads 305