Search results for: corrugated sandwich panel

Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

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This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Changes in the global risk appetite cause co-movement in emerging market risk premiums. However, the sensitivity of the changes in risk premium to the global risk appetite may vary across emerging markets. In this study, how the global risk appetite affects Credit Default Swap (CDS) premiums in emerging markets are analyzed using Principal Component Analysis (PCA) and rolling regressions. The PCA results indicate that the first common component derived by the PCA accounts for almost 76 percent of the common variation in CDS premiums. Additionally, the explanatory power of the first factor seems to be high over the sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are used to identify the macroeconomic factors driving the heterogeneity across emerging markets. The panel regression results point to the significance of government debt to GDP and international reserves to GDP in explaining sensitivity. Accordingly, countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: credit default swaps, emerging markets, principal components analysis, sovereign risk

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Authors: Fahim Ullah, Muhammad Usman

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Energy consumption and environmental sustainability are hard challenges of 21st century. Energy richness increases environmental pollution while energy poverty hinders economic growth. Considering these two aspects, present study calculates energy deficiency and examines the role of renewable energy to overcome rising energy deficiency and carbon emission for selected countries from 1990 to 2021. For empirical analysis, this study uses methods of moments panel quantile regression analysis and to check the robustness, study used panel quantile robust analysis. Graphical analysis indicated rising global energy deficiency since last three decades where energy consumption is higher than energy production. Empirical results showed that renewable energy is a significant factor for reducing energy deficiency. Secondly, the energy deficiency increases carbon emission level and again renewable energy decreases emissions level. This study recommends that global energy deficiency and rising carbon emissions can be controlled through structural change in the form of energy transition to replace non-renewable resources with renewable resources.

Keywords: energy deficiency, renewable energy, carbon emission, energy trade, PQL analysis

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Authors: Po-Yuan Tung, Jen-Chueh Kuo, Chia-Ray Chen, Chien-Hsing Li, Kuo-Liang Pan

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The main-body structure of satellite is mainly constructed by lightweight material, it should be able to withstand certain vibration load during launches. Since various kinds of change possibility in the space, it is an extremely important work to study the random vibration response of satellite structure. This paper based on the reciprocity relationship between sound and structure response and it will try to evaluate the dynamic response of satellite main body under random acoustic load excitation. This paper will study the technical process and verify the feasibility of sonic-borne vibration analysis. One simple plate exposed to the uniform acoustic field is utilized to take some important parameters and to validate the acoustics field model of the reverberation chamber. Then import both structure and acoustic field chamber models into the vibro-acoustic coupling analysis software to predict the structure response. During the modeling process, experiment verification is performed to make sure the quality of numerical models. Finally, the surface vibration level can be calculated through the modal participation factor, and the analysis results are presented in PSD spectrum.

Keywords: vibration, acoustic, modal, honeycomb panel

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Authors: J. Jayasuriya

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In this research paper, a procedure for installing and assessment of a solar PV plant to generate optimal solar energy SPAV hostel at Vijayawada city was analyzed. The hostel was experiencing power disruption and had a need for an unceasing energy source. The solar panel is one of the best solutions to obtain uninterrupted clean renewable energy for an institutional building as it neither makes din nor pollutes the atmosphere. The electricity usage per month was initially measured to discriminate the energy change. The solar array was installed with its financial and environmental assessment considering recent market prices. All the aspects related to a solar PV plant were considered for the feasibility and efficiency of PV plant near this site i.e., the orientation of the site, the size and shape of the terrace, the sun path were considered while installing panels. Various precautions were taken to intercept the factors which cause interference in energy generation, with respect to temperature, overshadowing, the wiring of panels, pollution etc. The solar panels were frequently installed, monitored and maintained properly to procure optimal energy output. Result obtained with the assessment of the proposed plant and deflation in the electric bill will show the maximal energy that can be generated in a month on that particular site.

Keywords: solar efficiency, building sustainability, PV panel, solar energy

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Authors: Jose Daniel Giraldo Arias, Camilo Rojas Gomez, David Villegas Delgado, Gullermo Idarraga Alarcon, Juan Meza Meza

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The reverse engineering processes are widely used in the industry with the main goal to determine the materials and the manufacture used to produce a component. There are a lot of characterization techniques and computational tools that are used in order to get this information. A study case of a reverse engineering applied to a secondary sandwich- hybrid type structure used in a helicopter is presented. The methodology used consists of five main steps, which can be applied to any other similar component: Collect information about the service conditions of the part, disassembly and dimensional characterization, functional characterization, material properties characterization and manufacturing processes characterization, allowing to obtain all the supports of the traceability of the materials and processes of the aeronautical products that ensure their airworthiness. A detailed explanation of each step is covered. Criticality and comprehend the functionalities of each part, information of the state of the art and information obtained from interviews with the technical groups of the helicopter’s operators were analyzed,3D optical scanning technique, standard and advanced materials characterization techniques and finite element simulation allow to obtain all the characteristics of the materials used in the manufacture of the component. It was found that most of the materials are quite common in the aeronautical industry, including Kevlar, carbon, and glass fibers, aluminum honeycomb core, epoxy resin and epoxy adhesive. The stacking sequence and volumetric fiber fraction are a critical issue for the mechanical behavior; a digestion acid method was used for this purpose. This also helps in the determination of the manufacture technique which for this case was Vacuum Bagging. Samples of the material were manufactured and submitted to mechanical and environmental tests. These results were compared with those obtained during reverse engineering, which allows concluding that the materials and manufacture were correctly determined. Tooling for the manufacture was designed and manufactured according to the geometry and manufacture process requisites. The part was manufactured and the mechanical, and environmental tests required were also performed. Finally, a geometric characterization and non-destructive techniques allow verifying the quality of the part.

Keywords: reverse engineering, sandwich-structured composite parts, helicopter, mechanical properties, prototype

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Authors: Mahmoud Hassan

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Understanding the impact of market- and non-market-based environmental policy instruments on renewable energy consumption (REC) is crucial for the design and choice of policy packages. This study aims to empirically investigate the effect of environmental policy stringency index (EPS) and its components on REC in 27 OECD countries over the period from 1990 to 2015, and then use the results to identify what the appropriate environmental policy mix should look like. By relying on the two-step system GMM estimator, we provide evidence that increasing environmental policy stringency as a whole promotes renewable energy consumption in these 27 developed economies. Moreover, policymakers are able, through the market- and non-market-based environmental policy instruments, to increase the use of renewable energy. However, not all of these instruments are effective for achieving this goal. The results indicate that R&D subsidies and trading schemes have a positive and significant impact on REC, while taxes, feed-in tariff and emission standards have not a significant effect. Furthermore, R&D subsidies are more effective than trading schemes for stimulating the use of clean energy. These findings proved to be robust across the three alternative panel techniques used.

Keywords: environmental policy stringency, renewable energy consumption, two-step system-GMM estimation, linear dynamic panel data model

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Authors: Danlei Yang, Luofeng Huang

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The integration of digital twin technology with renewable energy systems offers an innovative approach to predicting and optimising performance throughout the entire lifecycle. A digital twin is a continuously updated virtual replica of a real-world entity, synchronised with data from its physical counterpart and environment. Many digital twin companies today claim to have mature digital twin products, but their focus is primarily on equipment visualisation. However, the core of a digital twin should be its model, which can mirror, shadow, and thread with the real-world entity, which is still underdeveloped. For a floating solar energy system, a digital twin model can be defined in three aspects: (a) the physical floating solar energy system along with environmental factors such as solar irradiance and wave dynamics, (b) a digital model powered by artificial intelligence (AI) algorithms, and (c) the integration of real system data with the AI-driven model and a user interface. The experimental setup for the floating solar energy system, is designed to replicate real-ocean conditions of floating solar installations within a controlled laboratory environment. The system consists of a water tank that simulates an aquatic surface, where a floating catamaran structure supports a solar panel. The solar simulator is set up in three positions: one directly above and two inclined at a 45° angle in front and behind the solar panel. This arrangement allows the simulation of different sun angles, such as sunrise, midday, and sunset. The solar simulator is positioned 400 mm away from the solar panel to maintain consistent solar irradiance on its surface. Stability for the floating structure is achieved through ropes attached to anchors at the bottom of the tank, which simulates the mooring systems used in real-world floating solar applications. The floating solar energy system's sensor setup includes various devices to monitor environmental and operational parameters. An irradiance sensor measures solar irradiance on the photovoltaic (PV) panel. Temperature sensors monitor ambient air and water temperatures, as well as the PV panel temperature. Wave gauges measure wave height, while load cells capture mooring force. Inclinometers and ultrasonic sensors record heave and pitch amplitudes of the floating system’s motions. An electric load measures the voltage and current output from the solar panel. All sensors collect data simultaneously. Artificial neural network (ANN) algorithms are central to developing the digital model, which processes historical and real-time data, identifies patterns, and predicts the system’s performance in real time. The data collected from various sensors are partly used to train the digital model, with the remaining data reserved for validation and testing. The digital twin model combines the experimental setup with the ANN model, enabling monitoring, analysis, and prediction of the floating solar energy system's operation. The digital model mirrors the functionality of the physical setup, running in sync with the experiment to provide real-time insights and predictions. It provides useful industrial benefits, such as informing maintenance plans as well as design and control strategies for optimal energy efficiency. In long term, this digital twin will help improve overall solar energy yield whilst minimising the operational costs and risks.

Keywords: digital twin, floating solar energy system, experiment setup, artificial intelligence

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Authors: Mohsen Sheikholeslami, Zahra Khalili, Ladan Momayez

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Impacts of environmental parameters and dust deposition on the efficiency of solar panel have been scrutinized in this article. To gain thermal output, trapezoidal cooling channel has been attached in the bottom of the panel incorporating ternary nanofluid. To produce working fluid, water has been mixed with Fe₃O₄-TiO₂-GO nanoparticles. Also, the arrangement of fins has been considered to grow the cooling rate of the silicon layer. The existence of a thermoelectric layer above the cooling channel leads to higher electrical output. Efficacy of ambient temperature (Ta), speed of wind (V𝓌ᵢₙ𝒹) and inlet temperature (Tᵢₙ) and velocity (Vin) of ternary nanofluid on performance of PVT has been assessed. As Tin increases, electrical efficiency declines about 3.63%. Increase of ambient temperature makes thermal performance enhance about 33.46%. The PVT efficiency decreases about 13.14% and 16.6% with augment of wind speed and dust deposition. CO₂ mitigation has been reduced about 15.49% in presence of dust while it increases about 17.38% with growth of ambient temperature.

Keywords: photovoltaic system, CO₂ mitigation, ternary nanofluid, thermoelectric generator, environmental parameters, trapezoidal cooling channel

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Authors: Syed Nauman Bin Asghar Bukhari, Mohtashim Mansoor, Mohammad Nouman

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Engine test-Bed system is a fundamental tool to measure dynamic parameters, economic performance, and reliability of an aircraft Engine, and its automation and accuracy directly influences the precision of acquired and analysed data. In this paper, we present the design of digital Data Acquisition (DAQ) system for a vintage aircraft engine test bed that lacks the capability of displaying all the analyzed parameters at one convenient location (one panel-one screen). Recording such measurements in the vintage test bed is not only time consuming but also prone to human errors. Digitizing such measurement system requires a Data Acquisition (DAQ) system capable of recording these parameters and displaying them on one screen-one panel monitor. The challenge in designing upgrade to the vintage systems arises with a need to build and integrate digital measurement system from scratch with a minimal budget and modifications to the existing vintage system. The proposed design not only displays all the key performance / maintenance parameters of the gas turbine engines for operator as well as quality inspector on separate screens but also records the data for further processing / archiving.

Keywords: Gas turbine engine, engine test cell, data acquisition, instrumentation

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Authors: Timine Suoware, Sylvester Edelugo, Charles Amgbari

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Natural fibre composites (NFC) are becoming very attractive especially for automotive interior and non-structural building applications because they are biodegradable, low cost, lightweight and environmentally friendly. NFC are known to release high combustible products during exposure to heat atmosphere and this behaviour has raised concerns to end users. To improve on their fire response, flame retardants (FR) such as aluminium tri-hydroxide (ATH) and ammonium polyphosphate (APP) are incorporated during processing to delay the start and spread of fire. In this paper, APP was modified with Gum Arabic powder (GAP) and synergized with carbon black (CB) to form new FR species. Four FR species at 0, 12, 15 and 18% loading ratio were added to oil palm fibre polyester composite (OPFC) panels as follows; OPFC12%APP-GAP, OPFC15%APP-GAP/CB, OPFC18%ATH/APP-GAP and OPFC18%ATH/APPGAP/CB. The panels were produced using hand lay-up compression moulding and cured at room temperature. Specimens were cut from the panels and these were tested for ignition time (Tig), peak heat released rate (HRRp), average heat release rate (HRRavg), peak mass loss rate (MLRp), residual mass (Rm) and average smoke production rate (SPRavg) using cone calorimeter apparatus as well as the available flame energy (ɸ) in driving the flame using radiant panel flame spread apparatus. From the ignitability data obtained at 50 kW/m2 heat flux (HF), it shows that the hybrid FR modified with APP that is OPFC18%ATH/APP-GAP exhibited superior flame retardancy and the improvement was based on comparison with those without FR which stood at Tig = 20 s, HRRp = 86.6 kW/m2, HRRavg = 55.8 kW/m2, MLRp =0.131 g/s, Rm = 54.6% and SPRavg = 0.05 m2/s representing respectively 17.6%, 67.4%, 62.8%, 50.9%, 565% and 62.5% improvements less than those without FR (OPFC0%). In terms of flame spread, the least flame energy (ɸ) of 0.49 kW2/s3 for OPFC18%ATH/APP-GAP caused early flame regression. This was less than 39.6 kW2/s3 compared to those without FR (OPFC0%). It can be concluded that hybrid FR modified with APP could be useful in the automotive and building industries to delay the start and spread of fire.

Keywords: flame retardant, flame regression, oil palm fibre, composite panel

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Authors: Gurbir Kaur, Surinder Pal Singh

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The present study is a part of the research work on the effect of limestone powder (LP), silica fume (SF) and metakaolin (MK), on the flexural fatigue performance of steel fibre reinforced concrete (SFRC). Corrugated rectangular steel fibres of size 0.6x2.0x35 mm at a constant volume fraction of 1.0% have been incorporated in all mix combinations as the reinforcing material. Three mix combinations were prepared by replacing 30% of ordinary Portland cement (OPC) by weight with these cement additives in binary and ternary fashion to demonstrate their contribution. An experimental programme was conducted to obtain the fatigue lives of all mix combinations at various stress levels. The fatigue life data have been analysed as an attempt to determine the relationship between stress level ‘S’, number of cycles to failure ‘N’ and probability of failure ‘Pf’ for all mix combinations. The experimental coefficients of the fatigue equation have also been obtained from the fatigue data to represent the S-N-Pf curves analytically.

Keywords: cement additives, fatigue life, probability of failure, steel fibre reinforced concrete

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Authors: Rihab Belguith, Fathi Abid

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The paper develops a system-based approach to investigate the dynamic adjustment of debt structure and investment policies of the Dow-Jones index. This approach enables the assessment of relations among sales, debt, and investment opportunities by considering the simultaneous effect of the market environmental change and future growth opportunities. We integrate the firm-specific sales variance to capture the industries' conditions in the model. Empirical results were obtained through a panel data set of firms with different sectors. The analysis support that environmental change does not affect equally the different industry since operating leverage differs among industries and so the sensitivity to sales variance. Including adjusted-specific variance, we find that there is no monotonic relation between leverage, sales, and investment. The firm may choose a low debt level in response to high sales variance but high leverage to attenuate the negative relation between sales variance and the current level of investment. We further find that while the overall effect of debt maturity on leverage is unaffected by the level of growth opportunities, the shorter the maturity of debt is, the smaller the direct effect of sales variance on investment.

Keywords: dynamic panel, investment, leverage decision, sales uncertainty

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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: Tae Young Jin, Jin Soo Kim

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Carbon emissions have emerged as global concerns. Intergovernmental Panel of Climate Change (IPCC) have published reports about Green House Gases (GHGs) emissions regularly. United Nations Framework Convention on Climate Change (UNFCCC) have held a conference yearly since 1995. Especially, COP21 held at December 2015 made the Paris agreement which have strong binding force differently from former COP. The Paris agreement was ratified as of 4 November 2016, they finally have legal binding. Participating countries set up their own Intended Nationally Determined Contributions (INDC), and will try to achieve this. Thus, carbon emissions must be reduced. The energy sector is one of most responsible for carbon emissions and fossil fuels particularly are. Thus, this paper attempted to examine the relationship between natural gas consumption and economic growth. To achieve this, we adopted the Cobb-Douglas production function that consists of natural gas consumption, economic growth, capital, and labor using dependent panel analysis. Data were preprocessed with Principal Component Analysis (PCA) to remove cross-sectional dependency which can disturb the panel results. After confirming the existence of time-trended component of each variable, we moved to cointegration test considering cross-sectional dependency and structural breaks to describe more realistic behavior of volatile international indicators. The cointegration test result indicates that there is long-run equilibrium relationship between selected variables. Long-run cointegrating vector and Granger causality test results show that while natural gas consumption can contribute economic growth in the short-run, adversely affect in the long-run. From these results, we made following policy implications. Since natural gas has positive economic effect in only short-run, the policy makers in developing countries must consider the gradual switching of major energy source, from natural gas to sustainable energy source. Second, the technology transfer and financing business suggested by COP must be accelerated. Acknowledgement—This work was supported by the Energy Efficiency & Resources Core Technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20152510101880) and by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-205S1A3A2046684).

Keywords: developing countries, economic growth, natural gas consumption, panel data analysis

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Authors: Ting-Ting Wen, H. C. Lin

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This paper reports a study for the light outcoupling efficiency of the PLED device. In use of a designed substrate combined with nano-line patterns in PLED device, the light outcoupling efficiency can be significantly enhanced. The designed substrate was made by UV imprinting technology, such as triangular microlens arrays on the front and periodic corrugated patterns on the back surface. The nano-line patterns in PLED device was fabricated by advanced microstamping and ink-jet printing techniques. For high angles of observation with respect to the substrate surface normal, the light out intensity of the developed PLED device is increased from 0.05 (a.u.) up to 0.69 (a.u.) at the view angle 85 degree. The designed integration leads to 64% increase of the light out intensity compared with the conventional PLED device.

Keywords: triangular microlens, corrugation patterns, nano-line patterns, PLED device, UV imprinting technology, microstamping

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Authors: Ravi Verma

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Cryosorption pump is the best solution to achieve clean, vibration free ultra-high vacuum. Furthermore, the operation of cryosorption pump is free from the influence of electric and magnetic fields. Due to these attributes, this pump is used in the space simulation chamber to create the ultra-high vacuum. The cryosorption pump comprises of three parts (a) panel which is cooled with the help of cryogen or cryocooler, (b) an adsorbent which is used to adsorb the gas molecules, (c) an epoxy which holds the adsorbent and the panel together thereby aiding in heat transfer from adsorbent to the panel. The performance of cryosorption pump depends on the temperature of the adsorbent and hence, on the thermal conductivity of the epoxy. Therefore we have made an attempt to increase the thermal conductivity of epoxy adhesive by mixing nano-sized graphene filler particles. The thermal conductivity of epoxy-graphene composite adhesive is measured with the help of indigenously developed experimental setup in the temperature range from 4.5 K to 7 K, which is generally the operating temperature range of cryosorption pump for efficiently pumping of hydrogen and helium gas. In this article, we have presented the experimental results of epoxy-graphene composite adhesive in the temperature range from 4.5 K to 7 K. We have also proposed an analytical heat conduction model to find the thermal conductivity of the composite. In this case, the filler particles, such as graphene, are randomly distributed in a base matrix of epoxy. The developed model considers the complete spatial random distribution of filler particles and this distribution is explained by Binomial distribution. The results obtained by the model have been compared with the experimental results as well as with the other established models. The developed model is able to predict the thermal conductivity in both isotropic regions as well as in anisotropic region over the required temperature range from 4.5 K to 7 K. Due to the non-empirical nature of the proposed model, it will be useful for the prediction of other properties of composite materials involving the filler in a base matrix. The present studies will aid in the understanding of low temperature heat transfer which in turn will be useful towards the development of high performance cryosorption pump.

Keywords: composite adhesive, computational modelling, cryosorption pump, thermal conductivity

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Authors: Mennatallah M. Fouad, Omar Hussein, Lamia A. Shihata

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The main problem in many rural areas is the absence of electricity and limited access to water. The novelty of this work lies in implementing a small-scale experimental setup for a solar-powered water pumping system with a battery back-up system. Cooling and cleaning of the PV panel are implemented to enhance its overall efficiency and output. Moreover, a simulation for a large scale solar-powered pumping system is performed using PVSyst software. Results of the experimental setup show that the PV system with a battery backup proved to be a feasible and viable system to operate the water pumping system. Excess water from the pumping system is used to cool and clean the PV panel and achieved an average percentage increase in the PV output by 21.8%. Simulation results have shown that the system provides adequate output to power the solar-powered system and saves 0.3 tons of CO₂ compared to conventional fossil fuels. It is recommended for hot countries to adopt this system, which would help in decreasing the dependence on the depleting fossil fuels, provide access to electricity to areas where there is no electricity supply and also provide a source of water for crop growth as well as decrease the carbon emissions.

Keywords: efficient solar pumping, PV cleaning, PV cooling, PV-operated water pump

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Authors: Sarma Binti Aralas

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The relationship between property rights and trade specialization is examined for developing and developed countries using panel data analysis. Property rights is measured using the international property rights index while trade specialization is measured using the comparative advantage index. Cross country differences in property rights are hypothesized to lead to differences in trade specialization. Based on the argument that a weak protection of natural resources implies greater trade in resource-intensive goods, developing countries with less defined property rights are hypothesized to have a comparative advantage in resource-based exports while countries with more defined property rights will not have an advantage in resource-intensive goods. Evidence suggests that developing countries with weaker environmental protection index but are rich in natural resources do specialize in the trade of resource-intensive goods. The finding suggests that institutional frameworks to increase the stringency of environmental protection of resources may be needed to diversify exports away from the trade of resource-intensive goods.

Keywords: environmental protection, panel data, renewable resources, trade specialization

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Authors: Heba Abdelmotaal

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This paper explores the impact of the extent of a company's environmental, social, and governance (ESG) disclosure on credit rating and capital structure. The analysis is based on a sample of 202 firms from the 350 FTSE firms over the period of 2008-2013. ESG disclosure score is measured using Proprietary Bloomberg score based on the extent of a company's Environmental, Social, and Governance (ESG) disclosure. The credit rating is measured by The QuiScore, which is a measure of the likelihood that a company will become bankrupt in the twelve months following the date of calculation. The Capital Structure is measured by long term debt ratio. Two hypotheses are test using panel data regression. The results suggested that the higher degree of ESG disclosure leads to better credit rating. There is significant negative relationship between ESG disclosure and the long term debit percentage. The paper includes implications for the transparency which is resulting of the ESG disclosure could support the Monitoring Function. The monitoring role of disclosure is the increasing in the transparency of the credit rating agencies, also it could affect on managers’ actions. This study provides empirical evidence on the material of ESG disclosure on credit ratings changes and the firms’ capital decision making.

Keywords: capital structure, credit rating agencies, ESG disclosure, panel data regression

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Authors: Balarabe Z. Ahmad, Anne-Lorène Vernay

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The emergence of electricity in Nigeria was dated back to 1896. The power plants have the potential to generate 12,522 MW of electric power. Whereas current dispatch is about 4,000 MW, access to electrification is about 60%, with consumption at 0.14 MWh/capita. The government embarked on energy reforms to mitigate energy poverty. The reform targeted the provision of electricity access to 75% of the population by 2020 and 90% by 2030. Growth of total electricity demand by a factor of 5 by 2035 had been projected. This means that Nigeria will require almost 530 TWh of electricity which can be delivered through generators with a capacity of 65 GW. Analogously, the geographical location of Nigeria has placed it in an advantageous position as the source of solar energy; the availability of a high sunshine belt is obvious in the country. The implication is that the far North, where energy poverty is high, equally has about twice the solar radiation as against southern Nigeria. Hence, the chance of generating solar electricity is 66% possible at 11850 x 103 GWh per year, which is one hundred times the current electricity consumption rate in the country. Harvesting these huge potentials may be a mirage if the entrepreneurs in the solar panel business are left with the conventional business models that are not uncertainty resilient. Currently, business entities in RE in Nigeria are uncertain of; accessing the national grid, purchasing potentials of cooperating organizations, currency fluctuation and interest rate increases. Uncertainties such as the security of projects and government policy are issues entrepreneurs must navigate to remain sustainable in the solar panel industry in Nigeria. The aim of this paper is to identify how entrepreneurial firms consider uncertainties in developing workable business models for commercializing solar energy projects in Nigeria. In an attempt to develop a novel business model, the paper investigated how entrepreneurial firms assess and navigate uncertainties. The roles of key stakeholders in helping entrepreneurs to manage uncertainties in the Nigeria RE sector were probed in the ongoing study. The study explored empirical uncertainties that are peculiar to RE entrepreneurs in Nigeria. A mixed-mode of research was embraced using qualitative data from face-to-face interviews conducted on the Solar Energy Entrepreneurs and the experts drawn from key stakeholders. Content analysis of the interview was done using Atlas. It is a nine qualitative tool. The result suggested that all stakeholders are required to synergize in developing an uncertainty resilient business model. It was opined that the RE entrepreneurs need modifications in the business recommendations encapsulated in the energy policy in Nigeria to strengthen their capability in delivering solar energy solutions to the yawning Nigerians.

Keywords: uncertainties, entrepreneurial, business model, solar-panel

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Authors: Halison da Silva Pereira, Ciro Sobrinho Campolina Martins, Vitor Mainenti Leal Lopes

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Long range performance is a goal for aircraft configuration optimization. Blended Wing Body (BWB) is presented in many works of literature as the most aerodynamically efficient design for a fixed-wing aircraft. Because of its high weight to thrust ratio, BWB is the ideal configuration for many Unmanned Aerial Vehicle (UAV) missions on geomatics applications. In this work, a BWB aerodynamic design for typical light geomatics payload is presented. Aerodynamic non-dimensional coefficients are predicted using low Reynolds number computational techniques (3D Panel Method) and wing parameters like aspect ratio, taper ratio, wing twist and sweep are optimized for high cruise performance and flight quality. The methodology of this work is a summary of tailless aircraft wing design and its application, with appropriate computational schemes, to light UAV subjected to low Reynolds number flows leads to conclusions like the higher performance and flight quality of thicker airfoils in the airframe body and the benefits of using aerodynamic twist rather than just geometric.

Keywords: blended wing body, low Reynolds number, panel method, UAV

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Authors: Tetsuji Tanaka, Jin Guo

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The extant literature has not succeeded in uncovering the common determinants of price volatility transmissions of agricultural commodities from international to local markets, and further, has rarely investigated the role of self-sufficiency measures in the context of national food security. We analyzed various factors to determine the degree of price volatility transmissions of wheat, rice, and maize between world and domestic markets using GARCH models with dynamic conditional correlation (DCC) specifications and panel-feasible generalized least square models. We found that the grain autarky system has the potential to diminish volatility pass-throughs for three grain commodities. Furthermore, it was discovered that the substitutive commodity consumption behavior between maize and wheat buffers the volatility transmissions of both, but rice does not function as a transmission-relieving element, either for the volatilities of wheat or maize. The effectiveness of grain consumption substitution to insulate the pass-throughs from global markets is greater than that of cereal self-sufficiency. These implications are extremely beneficial for developing governments to protect their domestic food markets from uncertainty in foreign countries and as such, improves food security.

Keywords: food security, GARCH, grain self-sufficiency, volatility transmission

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Authors: Saad Odeh

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Thermal performance is considered to be a key measure in building sustainability. One of the technologies used in the current building sustainable design is the rooftop solar PV power generators. The application of this type of technology has expanded vastly during the last five years in many countries. This paper studies the effect of roof shading developed by the solar PV panels on dwellings’ thermal performance. The analysis in this work is performed by using two types of packages: “AccuRate Sustainability” for rating the energy efficiency of residential building design, and “PVSYST” for the solar PV power system design. The former package is used to calculate the annual heating and cooling load, and the later package is used to evaluate the power production from the roof top PV system. The analysis correlates the electrical energy generated from the PV panels to the change in the heating and cooling load due to roof shading. Different roof orientation, roof inclination, roof insulation, as well as PV panel area are considered in this study. The analysis shows that the drop in energy efficiency due to the shaded area of the roof by PV panels is negligible compared to the energy generated by these panels.

Keywords: PV panel, thermal performance, roof shading, energy efficiency

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Authors: Pierre van Tonder, Christoff Kruger

Abstract:

Modular concrete elements are used for retaining walls to provide lateral support. Depending on the retaining wall layout, these precast panels may be interlocking and may be tied into the soil backfill via geosynthetic strips. This study investigates the ultimate pull-out load increase, which is possible by adding varied diameter supplementary reinforcement through embedded anchor loops within concrete retaining wall panels. Full-scale panels used in practice have four embedded anchor points. However, only one anchor loop was embedded in the center of the experimental panels. The experimental panels had the same thickness but a smaller footprint (600mm x 600mm x 140mm) area than the full-sized panels to accommodate the space limitations of the laboratory and experimental setup. The experimental panels were also cast without any bending reinforcement as would typically be obtained in the full-scale panels. The exclusion of these reinforcements was purposefully neglected to evaluate the impact of a single bar reinforcement through the center of the anchor loops. The reinforcement bars had of 8 mm, 10 mm, 12 mm, and 12 mm. 30 samples of concrete panels with embedded anchor loops were tested. The panels were supported on the edges and the anchor loops were subjected to an increasing tensile force using an Instron piston. Failures that occurred were loop failures and panel failures and a mixture thereof. There was an increase in ultimate load vs. increasing diameter as expected, but this relationship persisted until the reinforcement diameter exceeded 10 mm. For diameters larger than 10 mm, the ultimate failure load starts to decrease due to the dependency of the reinforcement bond strength to the concrete matrix. Overall, the reinforced panels showed a 14 to 23% increase in the factor of safety. Using anchor loops of 66kN ultimate load together with Y10 steel reinforcement with bent ends had shown the most promising results in reducing concrete panel pull-out failure. The Y10 reinforcement had shown, on average, a 24% increase in ultimate load achieved. Previous research has investigated supplementary reinforcement around the anchor loops. This paper extends this investigation by evaluating supplementary reinforcement placed through the panel anchor loops.

Keywords: supplementary reinforcement, anchor loops, retaining panels, reinforced concrete, pull-out failure

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Authors: Richa Soni, Vibha Bhatnagar, N. K. Jain

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This study was conducted to develop a computer mediated programme for weight management and physical fitness and examining its efficacy in reducing weight and improving physical fitness in obese adults. A user friendly, computer based programme was developed to provide a simple, quick, easy and user-friendly method of assessing energy balance at individual level. The programme had four main sections viz. personal Profile, know about your weight, fitness and food exchange list. The computer programme was developed to provide facilities of creating individual profile, tracking meal and physical activities, suggesting nutritional and exercise requirements, planning calorie specific menus, keeping food diaries and revising the diet and exercise plans if needed. The programme was also providing information on obesity, underweight, physical fitness. An exhaustive food exchange list was also given in the programme to assist user to make right food choice decisions. The developed programme was evaluated by a panel of 15 experts comprising endocrinologists, nutritionists and diet counselors. Suggestions given by the experts were paned down and the entire programme was modified in light of suggestions given by the panel members and was reevaluated by the same panel of experts. For assessing the impact of the programme 22 obese subjects were selected purposively and randomly assigned to intervention group (n=12) and no information control group. (n=10). The programme group was asked to strictly follow the programme for one month. Significant reduction in the intake of energy, fat and carbohydrates was observed while intake of fruits, green leafy vegetables was increased. The programme was also found to be effective in reducing body weight, body fat percent and body fat mass whereas total body water and physical fitness scores improved significantly. There was no significant alteration observed in any parameters in the control group.

Keywords: body composition, body weight, computer programme, physical fitness

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Authors: Masaki Yamaguchi, Daimei Sasayama, Shinsuke Washizuka

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The goal of this study was to examine the possibility of salivary cytokines for the screening of attention deficit hyperactivity disorder (ADHD) in children. We carried out a case-control study, including 19 children with ADHD and 17 healthy children (controls). A multiplex bead array immunoassay was used to conduct a multi-analysis of 27 different salivary cytokines. Six salivary cytokines (interleukin (IL)-1β, IL-8, IL12p70, granulocyte colony-stimulating factor (G-CSF), interferon gamma (IFN-γ), and vascular endothelial growth factor (VEGF)) were significantly associated with the presence of ADHD (p < 0.05). An informative salivary cytokine panel was developed using VEGF by logistic regression analysis (odds ratio: 0.251). Receiver operating characteristic analysis revealed that assessment of a panel using VEGF showed “good” capability for discriminating between ADHD patients and controls (area under the curve: 0.778). ADHD has been hypothesized to be associated with reduced cerebral blood flow in the frontal cortex, due to reduced VEGF levels. Our study highlights the possibility of utilizing differential salivary cytokine levels for point-of-care testing (POCT) of biomarkers in children with ADHD.

Keywords: cytokine, saliva, attention deficit hyperactivity disorder, child

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Authors: Meriche Hacene

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Introduction: Allergy to animal hair is hypersensitivity to animal appendages to look for in front of any rhinoconjunctivitis or asthma. An anamnesis associated with the prick-tests makes it possible to guide the diagnosis, which will be supplemented in case of doubt by specific immunoglobulin E (IgE) assays. The objective of our study is to study the characteristics of patients sensitized to animal hair. Patients and methods: Retrospective study conducted on 105 adult patients and 69 children over a period of 3 years, including patients who received a specific IgE assay (respiratory panel and pediatric panel) by immunodot method. Result: 105 adult patients, including 74 women and 31 men, with an average age of 41 years, of which 8.5% had sensitization to animal hair (5 men and 4 women), namely: cat (5%), horse (4.7%) and dog (3.8%). For the 69 children, a slight female predominance was noted (56%), with an average age of 7.5 years, of which (13%) are sensitized to animal hair (5 girls and 4 boys): cat (10%), while awareness of dog and horse hair was less frequent with an identical prevalence of (4.34%). The dominant symptoms are rhinorrhea and sneezing for both categories, respectively (40% and 26.6% in adults and 23% for both symptoms in children). Cross-sensitization was observed in the 2 series: 1 single cat-dog and cat-horse case and 2 dog-horse cases in adults. In children, 100% of patients with sensitization to dog hair had cross-sensitization to cat hair, only 1 case was observed for cat-horse cross-reactivity. Conclusion This work shows that allergy to animal hair is common. Studies on more representative samples are recommended.

Keywords: specific IgE, allergy, cat, fed1

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Authors: Kanae Suzuki

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Handheld video games are popular communication tools among Japanese elementary school students today. This study aims to examine the effects of the use of handheld video games on interpersonal relationships of the students in real and virtual worlds. A two-wave panel survey was conducted for students of ten elementary schools at an interval of approximately six months. The survey questionnaire included questions about the average amount of time spent playing a handheld video game during the past one month, the frequency of communication with players during game play, and the interpersonal relationships, such as the number of real and virtual friends the students have. A multiple regression model was constructed for 324 students to examine causal relationships. The results indicated that the more frequently the students communicated with other players while playing games, the number of the real friends tended to increase. In contrast, no significant effect of the total time spent playing games was found on interpersonal relationships. The findings suggested that communication during game play is an important factor for improving interpersonal relationships of this age group.

Keywords: communication, real friend, social adjustment, virtual friend

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Authors: Jasmine Latiolais

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Much of the disaster-related literature finds a positive relationship between the impact of a natural disaster and the growth of wages. Panel datasets are often used to explore these effects. However, natural disasters do not impact a single variable in the economy. Rather, natural disasters affect all facets of the economy, simultaneously, upon impact. It is difficult to control for all factors that would be influenced by the impact of a natural disaster, which can lead to lead to omitted variable bias in those studies employing panel datasets. To address this issue of omitted variable bias, an interrupted time series analysis is used to test the short-run relationship between the impact of Hurricanes Katrina and Rita on parish wage levels in Southern Louisiana, inherently controlling for economic conditions. This study provides evidence that natural disasters do increase wages in the very short term (one quarter following the impact of the hurricane) but that these results are not seen in the longer term and are not robust. In addition, the significance of the coefficients changes depending on the parish. Overall, this study finds that previous literature on this topic may not be robust when considered through a time-series lens.

Keywords: economic recovery, local economies, local wage growth, natural disasters

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