Search results for: capital flows composition

Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar

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We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.

Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments

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Authors: Farhad Nouparast

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For more production we need more capital formation. Capital formation in each country should be based on comparative advantages in different economic sectors due to the different production possibility curves. In regional planning, recognizing the relative advantages and consequently investing in more production requires identifying areas with the necessary capabilities and location of each region compared to other regions. In this article, ranking of Iran's provinces is done according to the specific and given variables as the best investment position in agricultural activity. So we can provide the necessary background for investment analysis in different regions of the country to formulate national and regional planning and execute investment projects. It is used factor analysis technique and numerical taxonomy analysis to do this in thisarticle. At first, the provinces are homogenized and graded according to the variables using cross-sectional data obtained from the agricultural census and population and housing census of Iran as data matrix. The results show that which provinces have the most potential for capital formation in agronomy sub-sector. Taxonomy classifies organisms based on similar genetic traits in biology and botany. Numerical taxonomy using quantitative methods controls large amounts of information and get the number of samples and categories and take them based on inherent characteristics and differences indirectly accommodates. Numerical taxonomy is related to multivariate statistics.

Keywords: Capital Formation, Factor Analysis, Multivariate statistics, Numerical Taxonomy Analysis, Production, Ranking, Spatial Planning

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Authors: Aleksandr Medvedev, Zakhar Slukovsii

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Waterbodies, which are located either within urban areas or nearby towns, permanently undergo anthropogenic load. The extent of the load can be determined via investigations of chemical composition of both water and sediments. Lakes, as a rule, are considered as a landscape depressions, hence they are capable of natural material accumulating, which has been delivered from the catchment area through rivers as well as temporary flows. As a result, lacustrine sediments (especially closed-basin lakes sediments) are considered as perfect archives, which are served for reconstructing past sedimentation process, assessment of the modern contamination level, and prognostication of possible ways of changing in the future. The purposes of the survey are to define a heavy metals content in lake sediments cores, which were retrieved from four urban lakes located in the southern part of Karelia Republic, and to ascertain the main sources of heavy metals input to these waterbodies. It is really crucial to be aware of heavy metals content in environment, because chemical composition of a landscape may have a significant effect on living organisms and people’s health. Sediment columns were sampled in a field with 2-cm intervals by a gravitational corer called «Limnos». The sediment samples were analyzed by inductively coupled plasma spectrometry (ICP MS) for 8 chemical elements (Pb, Cd, Zn, Cr, Ni, Cu, Mn, V). The highest concentrations of trace elements were established in the upper and middle layers of the cores. It has also been ascertained that the extent of contamination mostly depends on a remoteness of a lake from various pollution sources and features of the sources.

Keywords: bottom sediments, environmental pollution, heavy metals, lakes

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Authors: Abdelfetah Laouzai, Rachid Ouafi

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In a traffic network, users usually choose their way so that it reduces their travel time between pairs origin-destination. This behavior might seem selfish as it produces congestions in different parts of the network. The traffic assignment problem (TAP) models the interactions between congestion and user travel decisions to obtain vehicles flows over each axis of the traffic network. The resolution methods of TAP serve as a tool allows predicting users’ distribution, identifying congesting points and affecting the travelers’ behavior in the choice of their route in the network following dynamic data. In this article, we will present a review about specific resolution approach of TAP. A comparative analysis is carried out on those approaches so that it highlights the characteristics, advantages and disadvantages of each.

Keywords: network traffic, travel decisions, approaches, traffic assignment, flows

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Authors: Eunseop Yeom

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Platelets can be activated by the surrounding blood flows where a blood vessel is narrowed as a result of atherosclerosis. Numerous studies have been conducted to identify the relation between platelets activation and thrombus formation. To measure platelet adhesion, this study proposes an image analysis technique. Blood samples are delivered in the microfluidic channel, and then platelets are activated by a stenotic micro-channel with 90% severity. By applying proposed correlation mapping, which visualizes decorrelation of the streaming blood flow, the area of adhered platelets (APlatelet) was estimated without labeling platelets. In order to evaluate the performance of correlation mapping on the detection of platelet adhesion, the effect of tile size was investigated by calculating 2D correlation coefficients with binary images obtained by manual labeling and the correlation mapping method with different sizes of the square tile ranging from 3 to 50 pixels. The maximum 2D correlation coefficient is observed with the optimum tile size of 5×5 pixels. As the area of the platelet adhesion increases, the platelets plug the channel and there is only a small amount of blood flows. This image analysis could provide new insights for better understanding of the interactions between platelet aggregation and blood flows in various physiological conditions.

Keywords: platelet activation, correlation coefficient, image analysis, shear rate

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Authors: Samia Dardouri, Ridha Bouallegue

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Scheduling is the process of dynamically allocating physical resources to User Equipment (UE) based on scheduling algorithms implemented at the LTE base station. Various algorithms have been proposed by network researchers as the implementation of scheduling algorithm which represents an open issue in Long Term Evolution (LTE) standard. This paper makes an attempt to study and compare the performance of PF, MLWDF and EXP/PF scheduling algorithms. The evaluation is considered for a single cell with interference scenario for different flows such as Best effort, Video and VoIP in a pedestrian and vehicular environment using the LTE-Sim network simulator. The comparative study is conducted in terms of system throughput, fairness index, delay, packet loss ratio (PLR) and total cell spectral efficiency.

Keywords: LTE, multimedia flows, scheduling algorithms, mobile computing

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Authors: Hossein Shokouhmand, Seyyed Mostafa Saadat

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In this paper, the effect of thermal dispersion on the performance of plate heat exchangers (PHEs) with sinusoidal plates is investigated. In this regard, the PHE is considered as a porous medium. The important property of a porous medium is porosity that is defined as the total fluid volume divided by the total volume occupied by the solid and fluid. A 2D array of parallel sinusoidal plates with laminar periodically developed forced convection and single-phase constant property flows and conduction in a homogenous solid phase in two directions is considered. The array of flows is counter and the flows heat capacities are equal. Numerical study of conjugate heat transfer and axial conduction in the solid phase with different plate thicknesses showed that there is an optimal porosity in which the efficiency of heat transfer is up to 4% more than the time when the porosity is near one. It is shown that the optimal porosity at zero angle of inclination depends both on Reynolds number and the aspect ratio. The optimal porosity increased while either the Reynolds number or waviness of plates increased.

Keywords: plate heat exchanger, optimal porosity, efficiency, aspect ratio

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Authors: Jaroslav Masek, Juraj Camaj, Eva Nedeliakova

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The paper is focused on the operational model for transport the single wagon consignments on railway network by using two different models of train formation. The paper gives an overview of possibilities of improving the quality of transport services. Paper deals with two models used in problematic of train formatting - time continuously and time discrete. By applying these models in practice, the transport company can guarantee a higher quality of service and expect increasing of transport performance. The models are also applicable into others transport networks. The models supplement a theoretical problem of train formation by new ways of looking to affecting the organization of wagon flows.

Keywords: train formation, wagon flows, marshalling yard, railway technology

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Authors: Jonghae Park, Daesung Kim

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The impact of aggressive and conservative working capital‘s strategies on the value and profitability of the firms has been evaluated by applying the panel data regression analysis. The control variables used in the regression models are natural log of firm size, sales growth, and debt. We collected a panel of 13,988 companies listed on the Korea stock market covering the period 2000-2016. The major findings of this study are as follow: 1) We find a significant negative correlation between firm profitability and the number of days inventory (INV) and days accounts payable (AP). The firm’s profitability can also be improved by reducing the number of days of inventory and days accounts payable. 2) We also find a significant positive correlation between firm profitability and the number of days accounts receivable (AR) and cash ratios (CR). In other words, the cash is associated with high corporate profitability. 3) Tobin's analysis showed that only the number of days accounts receivable (AR) and cash ratios (CR) had a significant relationship. In conclusion, companies can increase profitability by reducing INV and increasing AP, but INV and AP did not affect corporate value. In particular, it is necessary to increase CA and decrease AR in order to increase Firm’s profitability and value.

Keywords: working capital, working capital management, firm value, profitability

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Authors: Wan Norhayate Wan Daud, Fakhrul Anwar Zainol, Maslina Mansor

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The study was conducted to produce case studies from the Malaysian public universities stands point East Coast of Malaysia. The aim of this study is to analyze the effects of knowledge management on human capital toward organizational innovation. The focus point of this study is on the management member in the faculties of these three Malaysian Public Universities in the East Coast state of Peninsular Malaysia. In this case, respondents who agreed to further participate in the research will be invited to a one-hour face-to-face semi-structured, in-depth interview. As a result, the sample size for this study was 3 deans of Faculty of Management. Lastly, this study tries to recommend the framework of organizational innovation in Malaysian Public Universities.

Keywords: human capital, knowledge management, organizational innovation, public university

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Authors: V. Lokesh, M. Manjunathan, S. Sairam, K. Saithsh Kumar, R. Anantharaj

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The densities of pure and its binary mixtures of 1-Butyl-3-methyl imidazolium bis (trifluoro methyl sulfonyl) imide and 1–Ethyl-3-methyl imidazolium ethyl sulphate at different temperature, over the entire composition range were measured at 293.15, 298.15, 303.15, 308.15, 313.15, 318.15, 323.15, 328.15, 33.15, 338.15, 343.15 K. In this study, the liquid-liquid extraction procedure was used. From this experimental data, the excess molar volumes, apparent molar volume, partial molar volumes and the excess partial molar volumes have been calculated for over the whole composition range. Hence, the effect of temperature and composition on all derived thermodynamic properties of this binary mixture will be discussed in terms of intermolecular interactions.

Keywords: ionic liquid, interaction energy, effect of temperature, effect of composition

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Authors: Semuel Unwakoly, Reinner Puppela, Maresthy Rumalean, Healthy Kainama

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Fish is a kind of food that contains many nutritions, one of those is the long chain of unsaturated fatty acids as omega-3 and omega-6 fatty acids and essential amino acid in enough amount for the necessity of our body. Like pelagic fish that found in the sea of Maluku. This research was done to identify fatty acids and amino acids composition in Moonfish (M. maculata) using transesterification reaction steps and Gas Chromatograph-Mass Spectrophotometer (GC-MS) and High-Performance Liquid Chromatography (HPLC). The result showed that fatty acids composition in Moonfish (M. maculata) contained tridecanoic acid (2.84%); palmitoleic acid (2.65%); palmitic acid (35.24%); oleic acid (6.2%); stearic acid (14.20%); and 5,8,11,14-eicosatetraenoic acid (1.29%) and 12 amino acids composition that consist of 7 essential amino acids, were leucine, isoleucine, valine, phenylalanine, methionine, lysine, and histidine, and also 5 non-essential amino acid, were tyrosine, glycine, alanine, glutamic acid, and arginine.Thus, these fishes can be used by the people to complete the necessity of essential fatty acid and amino acid.

Keywords: Moonfish (M. maculata), fatty acid, amino acid, GC-MS, HPLC

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Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

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In the higher education setting, there is a current trend in society toward greater openness and transparency. The economic, social and political changes that have occurred in recent years in public sector universities (particularly the New Public Management, the Bologna Process and the emergence of the “third mission”) call for a wider disclosure of value created by universities to support fundraising activities, to ensure accountability in the use of public funds and the outcomes of research and teaching, as well as close relationships with industries and territories. The paper has two purposes: 1) to explore the intellectual capital (IC) disclosure in Spanish universities through their websites, and 2) to identify university profiles. This study applies a content analysis to analyze the institutional websites of Spanish public universities and a cluster analysis. The analysis reveals that Spanish universities’ website content usually relates to human capital, while structural and relational capitals are less widely disclosed. Our research identifies three behavioral profiles of Spanish universities with regard to the online disclosure of IC (universities more proactive, universities less proactive and universities adopt a middle position in this regard. The results can serve as encouragement to university managers to enhance online IC disclosure to meet the information needs of university stakeholders.

Keywords: universities, intellectual capital, disclosure, internet

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Authors: Qazi Mohammed Ahmed, Osman Sadiq Paracha, Iftikhar Hussain

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The study aims to explore the unaddressed relationship between social capital and consumers’ underlying behavioral intentions. The study postulates that this association is mediated by the role of attitudes and peer influence. The research attains evidence from a usable sample of 673 responses. The majority consists of the young and energetic social media users of Pakistan that utilize virtual communities as a way of life. A variance based structural equation modeling has been applied through SmartPLS 3. The results reveal that social capital exerts a statistically supportive association with both attitudes and peer influence. Contrastingly, this predictor variable shows an insignificant linkage with behavioral intentions but this relationship is fully mediated by consumer attitudes and peer influence. The paper enhances marketing literature with respect to an unexplored society of Pakistan. It also provides a lens for the contemporary advertisers, in terms of supporting their social media campaigns with affiliative and cohesive elements. The study also identifies a series of predictor variables that could further be tested with attitudes, subjective norms and behavioral responses.

Keywords: social capital, consumer attitudes, peer influence, behavioral intentions

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Authors: Zoran Jovanovic, Zoran Masonicic, S. Dragutinovic, Z. Sakota

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In this paper, results concerning flame propagation of various fuels in a particular combustion chamber with four tilted valves were elucidated. Flame propagation was represented by the evolution of spatial distribution of temperature in various cut-planes within combustion chamber while the flame front location was determined by dint of zones with maximum temperature gradient. The results presented are only a small part of broader on-going scrutinizing activity in the field of multidimensional modeling of reactive flows in combustion chambers with complicated geometries encompassing various models of turbulence, different fuels and combustion models. In the case of turbulence two different models were applied i.e. standard k-ε model of turbulence and k-ξ-f model of turbulence. In this paper flame propagation results were analyzed and presented for two different hydrocarbon fuels, such as CH4 and C8H18. In the case of combustion all differences ensuing from different turbulence models, obvious for non-reactive flows are annihilated entirely. Namely the interplay between fluid flow pattern and flame propagation is invariant as regards turbulence models and fuels applied. Namely the interplay between fluid flow pattern and flame propagation is entirely invariant as regards fuel variation indicating that the flame propagation through unburned mixture of CH4 and C8H18 fuels is not chemically controlled.

Keywords: automotive flows, flame propagation, combustion modelling, CNG

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Authors: Murtaza Adil, Sen Yang, Zhou Chao, Song Xiaoping

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The morphotropic phase boundary (MPB) recently has attracted constant interest in ferromagnetic systems for obtaining enhanced large magnetoelastic response. In the present study, structural and magnetoelastic properties of MPB involved ferromagnetic Tb_1-xGd_xFe₂ (0≤x≤1) system has been investigated. The change of easy magnetic direction from <111> to <100> with increasing x up MPB composition of x=0.9 is detected by step-scanned [440] synchrotron X-ray diffraction reflections. The Gd substitution for Tb changes the composition for the anisotropy compensation near MPB composition of x=0.9, which was confirmed by the analysis of detailed scanned XRD, magnetization curves and the calculation of the first anisotropy constant K₁. The spin configuration diagram accompanied with different crystal structures for Tb_1-xGd_xFe₂ was designed. The calculated first anisotropy constant K₁ shows a minimum value at MPB composition of x=0.9. In addition, the large ratio between magnetostriction, and the absolute values of the first anisotropy constant │λ_S∕K₁│ appears at MPB composition, which makes it a potential material for magnetostrictive application. Based on experimental results, a theoretically approach was also proposed to signify that the facilitated magnetization rotation and enhanced magnetoelastic effect near MPB composition are a consequence of the anisotropic flattening of free energy of ferromagnetic crystal. Our work specifies the universal existence of MPB in ferromagnetic materials which is important for substantial improvement of magnetic and magnetostrictive properties and may provide a new route to develop advanced functional materials.

Keywords: free energy, magnetic anisotropy, magnetostriction, morphotropic phase boundary (MPB)

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Authors: Cesar Julio Recalde

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Background: The role of intangible assets in today´s society is undeniable and continuously growing. More than 80% of corporate market is related to intellectual capital(IC). However, corporate governance principles and practices seem strongly based and oriented towards tangible assets. The impact of intangible assets on corporate governance might require prevention and adaptative actions. Adherence to voluntary mechanisms of intellectual capital reporting (ICR) seems to be a gateway towards adapting corporate governance to intangible assets influence and a conceptual cornerstone. The impact of adherence to intellectual capital reporting on corporate governance and performance needs to be evaluated. Purposes: This work has a sequential two folded purpose: (1) exploring the influences exerted by IC on corporate governance theory and practice, and within that context (2) analyzing the impact of adherence to voluntary mechanisms of ICR on corporate governance. Design and summary: This work employs the theory of the firm and agency theory in order to conceptually explore the effects of each dimension of IC on key corporate governance issues, namely property rights and control by shareholders and residual claims by stakeholders, fiduciary duties of management and the board, opportunistic behavior and transparency. A comprehensive IC taxonomy and map is presented. Within the resulting context, internal and external impact of ICR on corporate governance and performance is conceptually analyzed. IRC constraint and barriers are identified. Intellectual liabilities are presented within the context of IRC. Finally, IRC regulatory framework is surveyed. Findings: Relevant conclusions were rendered on the influence of intellectual capital on corporate governance. Sufficient evidence of a positive impact of IRC on corporate governance and performance was found. Additionally, it was found that IRC exerts a leveraging effect on IC itself. Intellectual liabilities are insufficiently researched and seem to have a relevant importance on IC measuring. IRC regulatory framework was found to be insufficiently developed to capture the essence of intangible assets and to meet corporate governance challenges facing IC. Originality: This work develops a progressive approach to conceptually analyze the mutual influences between IC and corporate governance. An epistemic ideogram represents the intersection of analyzed theories. An IC map is presented. The relatively new topic of intellectual liabilities is conceptually analyzed in the context of IRC. Social liabilities and client liabilities are presented.

Keywords: corporate governance, intellectual capital, intellectual capital reporting, intellectual assets, intellectual liabilities, voluntary mechanisms, regulatory framework

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Authors: Hongmin Chun

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This paper examines corporate cash holdings and their effect on the cost of equity capital. In addition, this study examines the potentially different effects when the firm belongs to chaebol and non-chaebol groups. Chaebol is a South Korean form of business conglomerate. Chaebol is typically global multinationals and owns numerous international enterprises, controlled by a chairman with power over all the operations. The overall empirical result suggests that higher cash holdings are a risk increasing factor which holds for the chaebol group of firms. This result is valid in a battery of robustness tests and 2SLS regressions. In Korea, higher cash holdings represent a risk premium factor that is closely related to the overinvestment and agency problems between managers and shareholders.

Keywords: cash holdings, implied cost of equity capital, chaebol, agency problem

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Authors: Guozhen Li, Philip Hall, Nick Miles, Tao Wu

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This paper presents a numerical investigation of two horizontally mounted four-lobed swirl pipes in terms of swirl induction effectiveness into flows passing through them. The swirl flows induced by the two swirl pipes have the potential to improve the efficiency of Clean-In-Place procedures in a closed processing system by local intensification of hydrodynamic impact on the internal pipe surface. Pressure losses, swirl development within the two swirl pipe, swirl induction effectiveness, swirl decay and wall shear stress variation downstream of two swirl pipes are analyzed and compared. It was found that a shorter length of swirl inducing pipe used in joint with transition pipes is more effective in swirl induction than when a longer one is used, in that it has a less constraint to the induced swirl and results in slightly higher swirl intensity just downstream of it with the expense of a smaller pressure loss. The wall shear stress downstream of the shorter swirl pipe is also slightly larger than that downstream of the longer swirl pipe due to the slightly higher swirl intensity induced by the shorter swirl pipe. The advantage of the shorter swirl pipe in terms of swirl induction is more significant in flows with a larger Reynolds Number.

Keywords: swirl pipe, swirl effectiveness, CFD, wall shear stress, swirl intensity

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Authors: George Ogono Muok, N. Obange, S. A. Odhiambo

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Empirical literature on the determinants of foreign direct investments (FDI) flows is extensive but controversial over some determinants of FDI in-flows in developing countries. The objective of this study therefore was to investigate the overall determinants of FDI inflows in Kenya. Dynamic macroeconomic theory and correlational study design provided theoretical framework for specification of a time series model. The study used data observed from 1970 to 2015 in World Development Indicators (WDI) data bank. The results show that annual growth rate of GDP, inflation rates and external debt as a proportion of GDP are significant determinants of FDI inflows in Kenya and are therefore important macroeconomic parameters for policy formulation for promotion of FDI inflows in Kenya.

Keywords: determinants of foreign, direct, investment inflows in, Kenya, Africa

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Authors: Yi-De Liu

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Destination branding is a popular practice adopted by many cities in the context of intensified tourism competition. However, branding for major event is a relatively new domain in the studies of destination marketing. Based on a case study of Liverpool as the 2008 European Capital of Culture, the aim of this paper is to explore the effectiveness of the key branding campaign - the ‘Look of the City’ programme. This study looks at quantitative data collected from on-street face-to-face survey. 611 questionnaires were distributed to and collected from local residents, visitors from the immediate hinterland, domestic tourists and overseas visitors. The analysis is done, first by investigating respondents’ impression on the Liverpool 08 brand and the branding campaign, and then by exploring the effects of campaign. The positioning of Liverpool compared with other similar cities is addressed in the end. The final section extracts lessons from this empirical investigation.

Keywords: destination branding, major event, European capital of culture, Liverpool

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Authors: Ferruh Taspinar, Gulce K. Seyyar, Gamze Kurt, Eda O. Okur, Emrah Afsar, Ismail Saracoglu, Betul Taspinar

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Overweight and obesity has been associated with postural balance. The aim of this study was to investigate the relationship between body composition and balance. One hundred and thirty two young adults (58 male, 74 female) were included in the study. Mean age of participants were found as 21.21±1.51 years. Body composition (body mass index, total body fat ratio, total body muscle ratio) and balance (right anterior, right postero-medial, right postero-lateral, left anterior, left postero-medial, left postero-lateral) were evaluated by Tanita BC-418 and Y balance test, respectively. Pearson correlation analysis was used to evaluate the correlation between the parameters. Significance level in statistical analysis was accepted as 0.05. According to results, no correlation was found between body mass index and balance parameters. There was negative correlation between total body fat ratio and balance parameters (r=0.419-0.509, p˂0.05). On the other hand, positive correlation was found between total body muscle ratio and balance parameters (r=0.390-0.494, p˂0.05). This study demonstrated that body fat and muscle ratio affects the balance. Body composition should be considered in rehabilitation programs including postural balance training.

Keywords: balance, body composition, body mass, young adults

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Authors: Ranjith Ihalanayake, Lalith Seelanatha, John Breen

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In this study, we explored the current working capital management practices as applied in small businesses in Victoria, filling an existing theoretical and empirical gap in literature in general and in Australia in particular. Amidst the current global competitive and dynamic environment, the short term insolvency of small businesses is very critical for the long run survival. A firm’s short-term insolvency is dependent on the availability of sufficient working capital for feeding day to day operational activities. Therefore, given the reliance for short-term funding by small businesses, it has been recognized that the efficient management of working capital is crucial in respect of the prosperity and survival of such firms. Against this background, this research was an attempt to understand the current working capital management strategies and practices used by the small scale businesses. To this end, we conducted an internet survey among 220 small businesses operating in Victoria, Australia. The survey results suggest that the majority of respondents are owner-manager (73%) and male (68%). Respondents participated in this survey mostly have a degree (46%). About a half of respondents are more than 50 years old. Most of respondents (64%) have business management experience more than ten years. Similarly, majority of them (63%) had experience in the area of their current business. Types of business of the respondents are: Private limited company (41%), sole proprietorship (37%), and partnership (15%). In addition, majority of the firms are service companies (63%), followed by retailed companies (25%), and manufacturing (17%). Size of companies of this survey varies, 32% of them have annual sales $100,000 or under, while 22% of them have revenue more than $1,000,000 every year. In regards to the total assets, majority of respondents (43%) have total assets $100,000 or less while 20% of respondents have total assets more than $1,000,000. In regards to WCMPs, results indicate that almost 70% of respondents mentioned that they are responsible for managing their business working capital. The survey shows that majority of respondents (65.5%) use their business experience to identify the level of investment in working capital, compared to 22% of respondents who seek advice from professionals. The other 10% of respondents, however, follow industry practice to identify the level of working capital. The survey also shows that more than a half of respondents maintain good liquidity financial position for their business by having accounts payable less than accounts receivable. This study finds that majority of small business companies in western area of Victoria have a WCM policy but only about 8 % of them have a formal policy. Majority of the businesses (52.7%) have an informal policy while 39.5% have no policy. Of those who have a policy, 44% described their working capital management policies as a compromise policy while 35% described their policy as a conservative policy. Only 6% of respondents apply aggressive policy. Overall the results indicate that the small businesses pay less attention into the management of working capital of their business despite its significance in the successful operation of the business. This approach may be adopted during favourable economic times. However, during relatively turbulent economic conditions, such an approach could lead to greater financial difficulties i.e. short-term financial insolvency.

Keywords: small business, working capital management, Australia, sufficient, financial insolvency

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Authors: Akbar Ali

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This study played an important role in the investigation of social adjustment of adolescent living with step parent families in Pakistan. Families plays an crucial role in the training and adjustment of adolescents’ personal, social and academic life. Adolescents living with parent families often experience different challenges which affects their social adjustment in the family and which further have impact on their academic and social life. One of central theme investigated in this study is parenting practice and other major theme is parental capital. The objectives of the study were to determine how different parenting styles being practiced in family affects adolescents’ adjustment and what is the role of parental capital in adolescents adjustment. qualitative approach was adopted for this research. Adolescents who are studying at college and living with step parent families participated in this study. Data was collected through interviews. Collected data was analyzed through NVIVO. Through findings, it is stated that parenting style and parental capital determining factors affecting adolescents’ adjustment and family experiences. The study suggest a comprehensive and practical approach for the adjustment of adolescents. Government should establish counselling and enabling facilities for adolescents’ for the wellbeing and better social adjustment.

Keywords: adolescents, academic life, parental capital, parental practices, social adjustment

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Authors: Rohit Thirumdas, Annapure U. S.

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Low-pressure air plasma is used to investigate the antioxidant properties and fatty acid composition of rice bran at different power levels (40 W and 60 W). We observed partial hydrogenation of rice bran oil after the treatment. The fatty acid composition analysis by gas chromatography showed an increase of 28.2% in palmitic acid and a 29.4% decrease in linoleic acid. FTIR spectrum shows no new peak formation, which confirms negligible amounts of trans-fatty acids. There is a decrease in peroxide value and iodine value, which can be correlated to an increase in saturated fatty acids. The total polyphenolic content was observed to be increased by 20.1% after the treatment. There is an increase in reducing power and DPPH % inhibition of rice bran due to plasma treatment. This study shows cold plasma treatment can be considered an alternative technology for the hydrogenation of oils, replacing traditional toxic processes.

Keywords: cold plasma, rice bran, fatty acid composition, hydrogenation of oils, antioxidant properties

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Authors: Wisitiporn Suksombat, Tanawat Phonkert, Chayapol Meeprom

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The aim of this experiment was to investigate the effect of calcium salt of palm oil fatty acids (Ca-POFA) supplementation on milk production and milk composition of dairy cows. Twenty-four early lactating crossbred Holstein Friesian 87.5% cows (15.4 ± 3.75 kg of milk/d; 93 ± 27 DIM; 369 ± 6 kg of BW), were assigned into 3 treatments in an RCBD. All dairy cows were fed 15.4% CP total mixed ration (TMR). The first group (control) received a basal diet and no supplement. The second group was fed the basal diet supplemented with 150 g/d calcium salt of palm oil fatty acids (Ca-POFA), and the last group was fed the basal diet supplemented with 300 g/d Ca-POFA. The experiment lasted 40 days with the first 10 days is an adaptation period, and measurements were made during the last 30 days in 6 periods with 5-days in each period for milk sample collection. The results found that supplemented calcium salt of palm oil fatty acid had no effect on milk yield, milk composition, milk composition yield, live weight and live weight change. However, Ca-POFA decreased milk protein percentage (P < 0.05).

Keywords: calcium salt of palm oil fatty acid, dairy cow, milk composition, milk production

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Authors: Alan Vaško, Juraj Belan, Lenka Hurtalová, Eva Tillová

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The aim of this study is to evaluate the influence of raw material composition on the microstructure, mechanical and fatigue properties and micromechanisms of failure of nodular cast iron. In order to evaluate the influence of charge composition, the structural analysis, mechanical and fatigue tests and micro fractographic analysis were carried out on specimens of ten melts with different charge compositions. The basic charge of individual melts was formed by a different ratio of pig iron and steel scrap and by different additive for regulation of chemical composition (silicon carbide or ferrosilicon). The results show differences in mechanical and fatigue properties, which are connected with the microstructure. SiC additive positively influences microstructure. Consequently, mechanical and fatigue properties of nodular cast iron are improved, especially in the melts with the higher ratio of steel scrap in the charge.

Keywords: nodular cast iron, silicon carbide, microstructure, mechanical properties

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Authors: O. B. Citil, V. Sariyel, M. Akoz

Abstract:

In this study, total fatty acid composition of muscle lipids of Cyprinus carpio L. living in Suğla Dam Lake, Altinapa Dam Lake, Eğirdir Lake and Burdur Lake were determined using GC. During this study, for the summer season of July was taken from each region of the land and they were stored in deep-freeze set to -20 degrees until the analysis date. At the end of the analyses, 30 different fatty acids were found in the composition of Cyprinus carpio L. which lives in different lakes. Cyprinus carpio Suğla Dam Lake of polyunsaturated fatty acids (PUFAs), were higher than other lakes. Cyprinus carpio L. was the highest in the major SFA palmitic acid. Polyunsaturated fatty acids (PUFA) of carp, the most abundant fish species in all lakes, were found to be higher than those of saturated fatty acids (SFA) in all lakes. Palmitic acid was the major SFA in all lakes. Oleic acid was identified as the major MUFA. Docosahexaenoic acid (DHA) was the most abundant in all lakes. ω3 fatty acid composition was higher than the percentage of the percentage ω6 fatty acids in all lake. ω3/ω6 rates of Cyprinus carpio L. Suğla Dam Lake, Altinapa Dam Lake, Eğirdir Lake and Burdur Lake, 2.12, 1.19, 2.15, 2.87, and 2.82, respectively. Docosahexaenoic acid (DHA) was the major PUFA in Eğirdir and Burdur lakes, whereas linoleic acid (LA) was the major PUFA in Altinapa and Suğla Dam Lakes. It was shown that the fatty acid composition in the muscle of carp was significantly influenced by different lakes.

Keywords: Cyprinus carpio L., fatty acid, composition, gas chromatography

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Authors: Mouhamed Mbouandi Njikam

Abstract:

This work assesses the trade potential of countries in the Economic Community of Central Africa States (ECCAS). The gravity model of trade is used to evaluate the trade flows of member countries, and to compute the trade potential index of ECCAS during 1995-2010. The focus is on the removal of tariffs and non-tariff barriers in the sub-region. Estimates from the gravity model are used for the calculation of the sub-region’s commercial potential. Its three main findings are: (i) the background research shows a low level of integration in the sub-region and open economies; (ii) a low level of industrialization and diversification are the main factors reducing trade potential in the sub-region; (iii) the trade creation predominate on the deflections of trade between member countries.

Keywords: gravity model, ECCAS, trade flows, trade potential, regional cooperation

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Authors: Mateusz Jeżowski, Jadwiga Fila, Paweł Poszytek

Abstract:

This abstract summarizes the combined findings of several analyses carried out by the authors on the barriers to accessing international education mobility programs by people with fewer opportunities, especially those with a low level of cultural and social capital. Two flagship educational mobility initiatives of the European Union – the Erasmus+ Program and the European Solidarity Corps are aimed at equipping young people and participants of all ages with the qualifications and skills needed for their meaningful participation in a democratic society intercultural understanding and successful transition in the labour market. The heart of these programs is to come closer to people with fewer opportunities, including people with disabilities, migrants, as well as those facing socio-economic difficulties and displaying a low level of social and cultural capital. Still, people who participate in such initiatives usually demonstrate higher than average cultural and social capital, as understood by Pierre Bourdieu. First of all, the educational attainment of their parents is higher than the average. Secondly, they mostly live in large agglomerations, with good access to education and culture, which affects their foreign language skills as well as social and cultural competencies. Finally, participation in Erasmus+ Program or European Solidarity Corps is not their first educational mobility experience. It is therefore justified to state that their social and cultural capital, already high before taking part in Erasmus+ and European Solidarity Corps, becomes even higher once their international mobility activities have been over, at the expense of those people with fewer opportunities, who, in theory, could participate in those initiatives, nonetheless did not, for the following reasons: lack of sufficient information on such programs, financial obstacles or unappreciation of the value of international mobility. In their work, the authors will discuss what are, in the light of Bourdieu’s perception of social and cultural capital, the main obstacles for young people to participate in international mobility programs of the European Union and will offer comprehensive solutions rooted in their vast experience in management and implementation of Erasmus+ Program and European Solidarity Corps.

Keywords: cultural capital, educational mobility, Erasmus+, European solidarity corps, inclusion, social capital

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