Search results for: nitrogen content and stock

Authors: Tinomuvonga Manenji Zhou, Eubert Mahofa, Tatenda Crispen Madzokere

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The nanostructured formulation can increase fertilizer efficacy and uptake ratio of the soil nutrients in agriculture production and save fertilizer resources. Controlled release modes have properties of both release rate and release pattern of nutrients, for fertilizers that are soluble in water might be correctly controlled. Nanoparticles can reduce the rate at which fertilizer nutrients are in the soil by leaching. A slow release NPK-hydroxyapatite nano hybrid fertilizer was synthesized using exfoliated bentonite as filler material. A simple, scalable method was used to synthesize the nitrogen-phosphorus hydroxyapatite nano fertilizer, where calcium hydroxide, phosphoric acid, and urea were used as precursor material, followed by the incorporation of potassium through a liquid grinding method. The product obtained was an NPK-hydroxyapatite nano hybrid fertilizer. A quantitative analysis was done to determine the percentage of nitrogen, phosphorus, and potassium in the hybrid fertilizer. AAS was used to determine the percentage of potassium in the fertilizer. An accelerated water test was conducted to compare the nutrient release behavior of nutrients between the synthesized NPK-hydroxyapatite nano hybrid fertilizer and commercial NPK fertilizer. The rate of release of Nitrogen, phosphorus, and potassium was significantly lower in the synthesized NPK hydroxyapatite nano hybrid fertilizer than in the convectional NPK fertilizer. The synthesized fertilizer was characterized using XRD. NPK hydroxyapatite nano hybrid fertilizer encapsulated in exfoliated bentonite thus prepared can be used as an environmentally friendly fertilizer formulation which could be extended to solve one of the major problems faced in the global fertilization of low nitrogen, phosphorus, and potassium use efficiency in agriculture.

Keywords: NPK hydroxyapatite nano hybrid fertilizer, bentonite, encapsulation, low release

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

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

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

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Authors: Xiaoling Ren, Guidong Yang

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Ammonia, as one of the largest-volume industrial chemicals, is mostly produced by century-old Haber-Bosch process with extreme conditionsand high-cost. Under the circumstance, researchersarededicated in finding new ways to replace the Haber-Bosch process. Photocatalytic nitrogen fixation is a promising sustainable, clear and green strategy for ammonia synthesis, butit is still a big challenge due to the high activation energy for nitrogen. It is essential to develop an efficient photocatalyst for making this approach industrial application. Constructing chemisorption active sites through defect engineering can be defined as an effective and reliable means to improve nitrogen activation by forming the extraordinary coordination environment and electronic structure. Besides, the construction of three-dimensionally orderdmacroporous (3DOM) structured photocatalyst is considered to be one of effectivestrategiesto improve the activity due to it canincrease the diffusion rate of reactants in the interior, which isbeneficial to the mass transfer process of nitrogen molecules in photocatalytic nitrogen reduction. Herein, Fe doped 3DOM WO₃(Fe-3DOM WO₃) without noble metal cocatalysts is synthesized by a polystyrene-template strategy, which is firstly used for photocatalytic nitrogen fixation. To elucidate the chemical nature of the dopant, the X-ray diffraction (XRD) analysiswas conducted. The pure 3DOM WO₃ has a monoclinic type crystal structure. And no additional peak is observed in Fe doped 3DOM WO₃, indicating that the incorporation of Fe atoms did not result in a secondary phase formation. In order to confirm the morphologies of Fe-3DOM WO₃and 3DOM WO₃, scanning electron microscopy (SEM) was employed. The synthesized Fe-3DOM WO₃and 3DOM WO₃ both exhibit a highly ordered three dimensional inverse opal structure with interconnected pores. From high-resolution TEM image of Fe-3DOM WO₃, the ordered lattice fringes with a spacing of 3.84 Å can be assigned to the (001) plane of WO₃, which is consistent with the XRD results. Finally, the photocatalytic nitrogen reduction performance of 3DOM WO₃ and Fe doped 3DOM WO₃with various Fe contents were examined. As a result, both Fe-3DOM WO₃ samples achieve higher ammonia production rate than that of pure 3DOM WO₃, indicating that the doped Fe plays a critical role in the photocatalytic nitrogen fixation performance. To verify the reaction process upon N2 reduction on the Fe-3DOM WO₃, in-situ diffuse reflectance infrared Fourier-transform spectroscopy was employed to monitor the intermediates. The in-situ DRIFTS spectra of Fe-3DOM WO₃ exhibit the increased signals with the irradiation time from 0–60min in the N2 atmosphere. The above results prove that nitrogen is gradually hydrogenated to produce ammonia over Fe-3DOM WO₃. Thiswork would enrich our knowledge in designing efficient photocatalystsfor photocatalytic nitrogen reduction.

Keywords: ammonia, photocatalytic, nitrogen fixation, Fe doped 3DOM WO₃

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Authors: István Fekete, Imre Berki, Áron Béni, Katalin Juhos, Marianna Makádi, Zsolt Kotroczó

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The average annual precipitation significantly influences the moisture content of the soils and, through this, the decomposition of the organic substances in the soils, the leaching of nutrients from the soils, and the pH of the soils. Climate change, together with the lengthening of the vegetation period and the increasing CO₂ level, can increase the amount of biomass that is formed. Degradation processes, which accelerate as the temperature increases and slow down due to the drying climate, and the change in the degree of leaching can cancel out or strengthen each other's effects. In the course of our research, we looked for oak forests with climate-zonal soils where the geological, geographical and ecological background conditions are as similar as possible, apart from the different annual precipitation averages and the differences that can arise from them. We examined 5 dry and 5 humid Hungarian oak soils. Climate change affects the soils of drier and wetter forests differently. The aim of our research was to compare the content of carbon, nitrogen and some other nutrients, as well as the pH of the soils of humid and dry forests. Showing the effects of the drier climate on the tested soil parameters. In the case of the examined forest soils, we found a significant difference between the soils of dry and humid forests: in the case of the annual average precipitation values (p≥ 0.0001, for dry forest soils: 564±5.2 mm; for humid forest soils: 716±3.8 mm) for pH (p= 0.0004, for dry forest soils: 5.49±0.16; for wet forest soils: 5.36±0.21); for C content (p= 0.0054, for dry forest soils: 6.92%±0.59; for humid forest soils 3.09%±0.24), for N content (p= 0.0022, dry forest in the case of soils: 0.44%±0.047; in the case of humid forest soils: 0.23%±0.013), for the K content (p=0.0017, in the case of dry forest soils: 5684±732 (mg/kg); in the case of humid forest soils 2169±196 (mg/kg)), for the Ca content (p= 0.0096, for dry forest soils: 8207±2118 (mg/kg); for wet forest soils 957±320 (mg/kg)). No significant difference was found in the case of Mg. In a wetter environment, especially if the moisture content of the soil is also optimal for the decomposing organisms during the growing season, the decomposition of organic residues accelerates, and the processes of leaching from the soil are also intensified. The different intensity of the leaching processes is also well reflected in the quantitative differences of Ca and K, and in connection with these, it is also reflected in the difference in pH values. The differences in the C and N content can be explained by differences in the intensity of the decomposition processes. In addition to warming, drying is expected in a significant part of Hungary due to climate change. Thus, the comparison of the soils of dry and humid forests allows us to predict the subsequent changes in the case of the examined parameters.

Keywords: soil nutrients, precipitation difference, climate change, organic matter decomposition, leaching

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Authors: Kwabena Asare, Ezekiel N. N. Nortey, Felix O. Mettle

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Modelling of extreme events has always been of interest in fields such as hydrology and meteorology. However, after the recent global financial crises, appropriate models for modelling of such rare events leading to these crises have become quite essential in the finance and risk management fields. This paper models the extreme values of the Ghana Stock Exchange All-Shares indices (2000-2010) by applying the Extreme Value Theory to fit a model to the tails of the daily stock returns data. A conditional approach of the EVT was preferred and hence an ARMA-GARCH model was fitted to the data to correct for the effects of autocorrelation and conditional heteroscedastic terms present in the returns series, before EVT method was applied. The Peak Over Threshold (POT) approach of the EVT, which fits a Generalized Pareto Distribution (GPD) model to excesses above a certain selected threshold, was employed. Maximum likelihood estimates of the model parameters were obtained and the model’s goodness of fit was assessed graphically using Q-Q, P-P and density plots. The findings indicate that the GPD provides an adequate fit to the data of excesses. The size of the extreme daily Ghanaian stock market movements were then computed using the Value at Risk (VaR) and Expected Shortfall (ES) risk measures at some high quantiles, based on the fitted GPD model.

Keywords: extreme value theory, expected shortfall, generalized pareto distribution, peak over threshold, value at risk

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Authors: Yusuf Seedat

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The necessity to understand global financial markets has increased following the unfortunate spread of the recent financial crisis around the world. Financial markets are considered to be complex systems consisting of highly volatile move-ments whose indexes fluctuate without any clear pattern. Analytic methods of stock prices have been proposed in which financial markets are modeled using common network analysis tools and methods. It has been found that two key components of social network analysis are relevant to modeling financial markets, allowing us to forecast accurate predictions of stock prices within the financial market. Financial markets have a number of interacting components, leading to complex behavioral patterns. This paper describes a social network approach to analyzing financial markets as a viable approach to studying the way complex stock markets function. We also look at how social network analysis techniques and metrics are used to gauge an understanding of the evolution of financial markets as well as how community detection can be used to qualify and quantify in-fluence within a network.

Keywords: network analysis, social networks, financial markets, stocks, nodes, edges, complex networks

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Authors: Belahmadi M. S. O., Abdessemed A., Benchiheub M., Doukali H., Kaid Kasbah K. M.

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The aim of this study is to evaluate the quality of leachate generated by the Batna landfill site, and to verify the performance of various advanced oxidation processes, in particular the Fenton and Photo-Fenton systems combined with biological treatment to eliminate the recalcitrant organic matter contained in this effluent, and to preserve reverse osmosis membranes used for leachate treatment. The average values obtained are compared with national and international discharge standards. The results of physico-chemical analyses show that the leachate has an alkaline pH =8.26 and a high organic load with a low oxygen content. Mineral pollution is represented by high conductivity (38.3 mS/cm), high Kjeldahl nitrogen content (1266.504 mg/L) and ammoniacal nitrogen (1098.384 mg/L). The average pollution indicator parameters measured were: BOD5 = 1483.333 mg O2 /L, COD = 99790.244 mg O 2/L, TOC = 22400 mg C/L. These parameters exceed Algerian standards. Hence, there is a necessity to treat this effluent before discharging it into the environment. A comparative study was carried out to estimate the efficiency of two oxidation processes. Under optimum reaction conditions, TOC removal efficiencies of 63.43% and 73.4% were achieved for the Fenton and Photo-Fenton processes, respectively. COD removal rates estimated at 88% and 99.5% for the Fenton and Photo- Fenton processes, respectively. In addition, the Photo-Fenton + bacteria + micro- algae hybrid treatment gave removal efficiencies of around 92.24% for TOC and 99.9% for COD; -0.5 for AOS and 0.01 for CN. The results obtained during this study showed that a hybrid approach combining the PhotoFenton process and biological treatment appears to be a highly effective alternative for achieving satisfactory treatment, which aimed at exploiting the advantages of this method in terms of organic pollutant removal.

Keywords: leachate, landfill, advanced oxidation processes, Fenton and Photo-Fenton systems, biological treatment, organic pollutants

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Authors: Abootaleb Shirvani, Svetlozar Rachev

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ESG stands for Environmental, Social, and Governance and is a non-financial factor that investors use to specify material risks and growth opportunities in their analysis process. ESG ratings provide a quantitative measure of socially responsible investment, and it is essential to incorporate ESG ratings when modeling the dynamics of asset returns. In this article, we propose a triple subordinated Lévy process for incorporating numeric ESG ratings into dynamic asset pricing theory to model the time series properties of the stock returns. The motivation for introducing three layers of subordinator is twofold. The first two layers of subordinator capture the skew and fat-tailed properties of the stock return distribution that cannot be explained well by the existing Lévy subordinated model. The third layer of the subordinator introduces ESG valuation and incorporates numeric ESG ratings into dynamic asset pricing theory and option pricing. We employ the triple subordinator Lévy model for developing the ESG-valued stock return model, derive the implied ESG score surfaces for Microsoft, Apple, and Amazon stock returns, and compare the shape of the ESG implied surface scores for these stocks.

Keywords: ESG scores, dynamic asset pricing theory, multiple subordinated modeling, Lévy processes, option pricing

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Authors: Geno Paul S. Cumla, Jan Mariel M. Gentiles, M. Brenda Gajelan-Samson

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Eutrophication is a process where in there is a surplus of nutrients present in a lake or river. Harmful cyanobacteria, hypoxia, and primarily algae, which contain toxins, grow because of the excess nutrients. Algal blooms can cause fish kills, limiting the light penetration which reduces growth of aquatic organisms, causing die-offs of plants and produce conditions that are dangerous to aquatic and human life. The main cause for eutrophication is the presence of excessive amounts of phosphorus (P) and nitrogen (N). Nitrogen is necessary for the production of the plant tissues and is usually used to synthesize proteins. Nitrate is a compound that contains nitrogen, and at elevated levels it can cause harmful effects. Excessive amounts of phosphorus, displaced through human activity, is the major cause of algae growth and as well as degraded water quality. To accomplish this study the Assessment of Soluble inorganic nitrogen (SIN), Assessment of Soluble reactive phosphate (SRP), Determination of Chlorophyll a (Chl-a) concentration, and Determination of Dominating Taxa were done. The study addresses the high probability of algal blooms in Maqueda Bay by assessing the biotic and abiotic factors of Antiao and Jiabong rivers. The data predicts the overgrowth of algae and to create awareness to prevent the event from taking place. The study assesses the adverse effects that could be prevented by understanding and controlling algae. This should predict future cases of algal blooms and allow government agencies which require data to create programs to prevent and assess these issues.

Keywords: eutrophication, chlorophyll a, nitrogen, phosphorus, red tide, Kjeldahl method, spectrophotometer, assessment of soluble inorganic nitrogen, SIN, assessment of soluble reactive phosphate, SRP

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Authors: Nasim Rasuli, Akram Ahmadi, Hossein Riahi, Zeinab Shariatmadari, Majid Ghorbani Nohooji, Pooyan Mehraban Joubani

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Cyanobacteria are one of the most promising sources of new biostimulants and have received much attention due to their diverse applications in biotechnology. These microorganisms enhance the growth and productivity of plants by producing plant growth stimulants and fixing atmospheric nitrogen. Thymus vulgaris L., a valuable medicinal plant from the Lamiaceae family, is widely distributed across the globe. essential oil of T. vulgaris is best characterized by the prominence of phenols, making them the key compounds in its composition. Lignin biosynthesis as a natural plant polyphenol plays a crucial role in promoting plant growth, strengthening cell walls, and increasing resistance to pathogens. In this study, the bioelicitor activity of five cyanobacterial suspensions including Anabaena torulosa ISB213, Nostoc calcicola ISB215, Nostoc ellipsosporum ISB217, Trichormus doliolum ISB214, and Oscillatoria sp. ISB2116 on the lignin content of the T. vulgaris L. was investigated. Pot experiments were performed by inoculation of a %2 algal extract to the soil of treated plants one week before planting and then every 20 days. After four months, the lignin content in the leaves of both treated and control plants was evaluated. The results demonstrated that the application of cyanobacteria significantly increased the lignin content in the leaves of treated plants compared to the control. The treatment with Oscillatoria sp. ISB216 and N. ellipsosporum ISB217 resulted in the highest lignin content, with an increase of 93.33% and 86.67%, respectively. These findings highlight the potential of cyanobacteria as bioelicitors, offering a viable alternative for enhancing the production of secondary metabolites in T. vulgaris. Consequently, this could contribute to the economic value of this medicinal plant.

Keywords: cyanobacteria, bioelicitor, thymus vulgaris, lignin

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Authors: Xiangrong Liu, Chuanhui Xiong

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With the concern of large pollution emissions from coal-fired power plants and new commitment to green energy, global solar power industry was emerging recently. Due to the advanced technology, the price of solar photovoltaic(PV) module was reduced at a fast rate, which arose an interesting but challenge question to solar supply chain. This research is modeling the inventory strategies for a PV supply chain with a PV manufacturer, an assembler and an end customer. Through characterizing the manufacturer's and PV assembler's optimal decision in decentralized and centralized situation, this study shed light on how to improve supply chain performance through parameters setting in the contract design. The results suggest the assembler to lower the optimal stock level gradually each period before price reduction and set up a newsvendor base-stock policy in all periods after price reduction. As to the PV module manufacturer, a non-stationary produce-up-to policy is optimal.

Keywords: photovoltaic, supply chain, inventory policy, base-stock policy

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Authors: Tarik Bazgour, Cedric Heuchenne, Danielle Sougne

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We examine time variation in the market beta of portfolios sorted on quality, liquidity level and liquidity beta characteristics across stock market phases. Using US stock market data for the period 1970-2010, we find, first, the US stock market was driven by four regimes. Second, during the crisis regime, low (high) quality, high (low) liquidity beta and illiquid (liquid) stocks exhibit an increase (a decrease) in their market betas. This finding is consistent with the flight-to-quality and liquidity phenomena. Third, we document the same pattern across stocks when the market volatility is low. We argue that, during low volatility times, investors shift their portfolios towards low quality and illiquid stocks to seek portfolio gains. The pattern observed in the tranquil regime can be, therefore, explained by a flight-to-low-quality and to illiquidity. Finally, our results reveal that liquidity level is more important than liquidity beta during the crisis regime.

Keywords: financial crises, quality, liquidity, liquidity risk, regime-switching models

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Authors: Oustani Mabrouka, Halilat Md Tahar, Hannachi Slimane

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This study was conducted on representative and contrasting soils of arid regions. It focuses on the compared influence of two organic fertilizers: poultry manure (PM) and bovine manure (BM) on improving the microbial functioning of non-saline (SS) and saline (SSS) soils, in particularly, the process of mineralization of nitrogen and carbon. The microbiological activity was estimated by respirometric test (CO2–C emissions) and the extraction of two forms of mineral nitrogen (NH4+-N and NO3--N). Thus, after 56 days of incubation under controlled conditions (28 degrees and 80 per cent of the field capacity), the two types of manures showed that the mineralization activity varies according to type of soil and the organic substrate itself. However, the highest cumulative quantities of CO2–C, NH4+–N and NO3-–N obtained at the end of incubation were recorded in non-saline (SS) soil treated with poultry manure with 1173.4, 4.26 and 8.40 mg/100 g of dry soil, respectively. The reductions in rates of release of CO2–C and of nitrification under saline conditions were 21 and 36, 78 %, respectively. The influence of organic substratum on the microbial density shows a stimulating effect on all microbial groups studied. The whole results show the usefulness of two types of manures for the improvement of the microbiological functioning of arid soils.

Keywords: Salinity, Organic matter, Microorganisms, Mineralization, Nitrogen, Carbon, Arid regions

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Authors: Harsha B. R., Anil Kumar K. S.

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Climate and soils are the two most dynamic entities among the factors affecting growth and grapes productivity. Studying of prevailing climate over the years in a region provides sufficient information related to management practices to be carried out in vineyards. Evaluating the suitability of vineyard soils under different climatic conditions serves as the yardstick to analyse the performance of grapevines. This study was formulated to study the climate and evaluate the site-suitability of soils in vineyards of southern Karnataka, which has registered its superiority in the quality production of wine. Ten soil profiles were excavated for suitability evaluation of soils, and six taluks were studied for climatic analysis. In almost all the regions studied, recharge starts at the end of the May or June months, peaking in either September or October months. Soil Starts drying from mid of December months in the taluks studied. Bangalore North (Rajanukunte) soils were highly suited for grapes cultivation with no or slight limitations. Bangalore North (GKVK Farm) was moderately suited with slight to moderate limitations of slope and available nitrogen content. Moderate suitability was observed in the rest of the profiles studied in Eastern dry zone soils with the slight to moderate limitations of either organic carbon or available nitrogen or both in the Eastern dry zone. Magadi (Southern dry zone) soils were moderately suitable with slight to moderate limitations of graveliness, available nitrogen, organic carbon, and exchangeable sodium percentage. Sustainable performance of vineyards in terms of yield can be achieved in these taluks by managing the constraints existing in soils.

Keywords: climatic analysis, dry zone, water recharge, growing period, suitability, sustainability

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Authors: F. Nejati, Sh. Dokhani

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Bitterness is a flavor defect encountered in some cheeses, such as Iranian white brined cheese and is responsible for reducing acceptability of the cheeses. The objective of this study was to investigate the effect of an adjunct culture on removal of bitterness fro, Iranian white-brined cheese. The chemical and proteolysis characteristics of the cheese were also monitored. Bitter cheeses were made using overdose of clotting enzyme with and without L. helveticus CH-1 as an adjunct culture. Cheese made with normal doses of clotting enzyme was used as the control. Adjunct culture was applied in two different forms: attenuated and non-attenuated. Proteolysis was assessed by measuring the amount of water soluble nitrogen, 12% trichloroacetic acid soluble nitrogen and total free amino acids during ripening. A taste panel group also evaluated the cheeses at the end of ripening period. Results of the statistical analysis showed that the adjunct caused considerable proteolysis and the level of water soluble nitrogen and 12% soluble nitrogen fractions were found to be significantly higher in the treatment involving L. helveticus (respectively P < 0.05 and P < 0.01). Regarding to organoleptic evaluations, the non-shocked adjunct culture caused reduction in bitterness and enhancement of flavor in cheese.

Keywords: bitterness, Iranian white brined cheese, Lactobacillus helveticus, ripening

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Authors: Fatemeh Nejati, Shahram Dokhani

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Bitterness is a flavor defect encountered in some cheeses, such as Iranian white brined cheese and is responsible for reducing acceptability of the cheeses. The objective of this study was to investigate the effect of an adjunct culture on removal of bitterness fro, Iranian white-brined cheese. The chemical and proteolysis characteristics of the cheese were also monitored. Bitter cheeses were made using overdose of clotting enzyme with and without L. helveticus CH-1 as an adjunct culture. Cheese made with normal doses of clotting enzyme was used as the control. Adjunct culture was applied in two different forms: attenuated and non-attenuated. Proteolysis was assessed by measuring the amount of water soluble nitrogen, 12% trichloroacetic acid soluble nitrogen and total free amino acids during ripening. A taste panel group also evaluated the cheeses at the end of ripening period. Results of the statistical analysis showed that the adjunct caused considerable proteolysis and the level of water soluble nitrogen and 12% soluble nitrogen fractions were found to be significantly higher in the treatment involving L. helveticus (respectively P < 0.05 and P < 0.01). Regarding to organoleptic evaluations, the non-shocked adjunct culture caused reduction in bitterness and enhancement of flavor in cheese.

Keywords: Bitterness, Iranian white brined Cheese, Lactobacillus helveticus, Ripening

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Authors: Lai Peng, Cristina Pintucci, Dries Seuntjens, José Carvajal-Arroyo, Siegfried Vlaeminck

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Economic incentives drive the implementation of short-cut nitrogen removal processes such as nitritation/denitritation (Nit/DNit) to manage nitrogen in waste streams devoid of biodegradable organic carbon. However, as any biological nitrogen removal process, the potent greenhouse gas nitrous oxide (N2O) could be emitted from Nit/DNit. Challenges remain in understanding the fundamental mechanisms and development of engineered mitigation strategies for N2O production. To provide answers, this work focuses on manure as a model, the biggest wasted nitrogen mass flow through our economies. A sequencing batch reactor (SBR; 4.5 L) was used treating the centrate (centrifuge supernatant; 2.0 ± 0.11 g N/L of ammonium) from an anaerobic digester processing mainly pig manure, supplemented with a co-substrate. Glycerin was used as external carbon source, a by-product of vegetable oil. Out-selection of nitrite oxidizing bacteria (NOB) was targeted using a combination of low dissolved oxygen (DO) levels (down to 0.5 mg O2/L), high temperature (35ºC) and relatively high free ammonia (FA) (initially 10 mg NH3-N/L). After reaching steady state, the process was able to remove 100% of ammonium with minimum nitrite and nitrate in the effluent, at a reasonably high nitrogen loading rate (0.4 g N/L/d). Substantial N2O emissions (over 15% of the nitrogen loading) were observed at the baseline operational condition, which were even increased under nitrite accumulation and a low organic carbon to nitrogen ratio. Yet, higher DO (~2.2 mg O2/L) lowered aerobic N2O emissions and weakened the dependency of N2O on nitrite concentration, suggesting a shift of N2O production pathway at elevated DO levels. Limiting the greenhouse gas emissions (environmental protection) from such a system could be substantially minimized by increasing the external carbon dosage (a cost factor), but also through the implementation of an intermittent aeration and feeding strategy. Promising steps forward have been presented in this abstract, yet at the conference the insights of ongoing experiments will also be shared.

Keywords: mitigation, nitrous oxide, nitritation/denitritation, pig manure

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Authors: David Abad, M. Encarnación Lucas-Pérez, Antonio Minguez-Vera, José Yagüe

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We examine explicitly the relation between the gender diversity on corporate boards and the levels of information asymmetry in the stock market. Based on prior evidence that suggests that the presence of women on director boards increases the quantity and quality of public disclosure by firms, we expect firms with higher gender diversity on their boards to show lower levels of information asymmetry in the market. Using a Spanish sample for the period 2004-2009, proxies for information asymmetry estimated from high-frequency data, and a system GMM methodology, we find that the gender diversity on boards is negative associated with the level of information asymmetry in the stock market. Our findings support legislative changes implemented to increase the presence of women on boards in several European countries by providing evidence that gender diverse boards have beneficial effects on stock markets.

Keywords: corporate board, female directors, gender diversity, information asymmetry, market microstructure

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Authors: Luís Fernando Cusioli, Leticia Nishi, Lucas Bairros, Gabriel Xavier Jorge, Sandro Rogério Lautenschalager, Celso Varutu Nakamura, Rosângela Bergamasco

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Focusing on the elimination of nitrogen and phosphorus from sewage, the study proposes to face the challenges of eutrophication and to optimize the effectiveness of sewage treatment through biofilms and filling produced by a 3D printer, seeking to identify the most effective Polylactic Acid (PLA), Acrylonitrile Butadiene Styrene (ABS). The study also proposes to evaluate the nitrification process in a Submerged Aerated Biological Filter (FBAS) on a pilot plant scale, quantifying the removal of nitrogen and phosphorus. The experiment will consist of two distinct phases, namely, a bench stage and the implementation of a pilot plant. During the bench stage, samples will be collected at five points to characterize the microbiota. Samples will be collected, and the microbiota will be investigated using Fluorescence In Situ Hybridization (FISH), deepening the understanding of the performance of biofilms in the face of multiple variables. In this context, the study contributes to the search for effective solutions to mitigate eutrophication and, thus, strengthen initiatives to improve effluent treatment.

Keywords: eutrophication, sewage treatment, biofilms, nitrogen and phosphorus removal, 3d printer, environmental efficiency

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Authors: P. Fucik, J. Vymazal, M. Seres

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Pollution from agricultural drainage is a severe issue for water quality, and it is a major reason for the failure in accomplishment of 'good chemical status' according to Water Framework Directive, especially due to high nitrogen and pesticide burden of receiving waters. Constructed wetlands were proposed as a suitable measure for removal of nitrogen from agricultural drainage in the early 1990s. Until now, the vast majority of constructed wetlands designed to treat tile drainage were free-surface constructed wetlands. In 2018, three small experimental constructed wetlands with horizontal subsurface flow were built in Czech Highlands to treat tile drainage from 15.73 ha watershed. The wetlands have a surface area of 79, 90 and 98 m² and were planted with Phalaris arundinacea and Glyceria maxima in parallel bands. The substrate in the first two wetlands is gravel (4-8 mm) mixed with birch woodchips (10:1 volume ratio). In one of those wetlands, the water level is kept 10 cm above the surface; in the second one, the water is kept below the surface. The third wetland has 20 cm layer of birch woodchips on top of gravel. The drainage outlet, as well as wetland outlets, are equipped with automatic discharge-gauging devices, temperature probes, as well as automatic water samplers (Teledyne ISCO). During the monitored period (2018-2019), the flows were unexpectedly low due to a drop of the shallow ground water level, being the main source of water for the monitored drainage system, as experienced at many areas of the Czech Republic. The mean water residence time was analyzed in the wetlands (KBr), which was 16, 9 and 27 days, respectively. The mean total nitrogen concentration eliminations during one-year period were 61.2%, 62.6%, and 70.9% for wetlands 1, 2, and 3, respectively. The average load removals amounted to 0.516, 0.323, and 0.399 g N m-2 d-1 or 1885, 1180 and 1457 kg ha-1 yr-1 in wetlands 1, 2 and 3, respectively. The plant uptake and nitrogen sequestration in aboveground biomass contributed only marginally to the overall nitrogen removal. Among the three variants, the one with shallow water on the surface was revealed to be the most effective for removal of nitrogen from drainage water. In August 2019, herbicide Metazachlor was experimentally poured in time of 2 hours at drainage outlet in a concentration of 250 ug/l to find out the removal rates of the aforementioned wetlands. Water samples were taken the first day every six hours, and for the next nine days, every day one water sample was taken. The removal rates were as follows 94, 69 and 99%; when the most effective wetland was the one with the longest water residence time and the birch woodchip-layer on top of gravel.

Keywords: constructed wetlands, metazachlor, nitrogen, tile drainage

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Authors: Korpapa Srisamai, Pawee Siriruk

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The purpose of this study is to forecast product demands and develop appropriate and adequate procurement plans to meet customer needs and reduce costs. When the product exceeds customer demands or does not move, it requires the company to support insufficient storage spaces. Moreover, some items, when stored for a long period of time, cause deterioration to dead stock. A case study of the wholesale company of electronic equipment and components, which has uncertain customer demands, is considered. The actual purchasing orders of customers are not equal to the forecast provided by the customers. In some cases, customers have higher product demands, resulting in the product being insufficient to meet the customer's needs. However, some customers have lower demands for products than estimates, causing insufficient storage spaces and dead stock. This study aims to reduce the loss of sales opportunities and the number of remaining goods in the warehouse, citing 30 product samples of the company's most popular products. The data were collected during the duration of the study from January to October 2022. The methods used to forecast are simple moving averages, weighted moving average, and exponential smoothing methods. The economic ordering quantity and reorder point are used to calculate to meet customer needs and track results. The research results are very beneficial to the company. The company can reduce the loss of sales opportunities by 20% so that the company has enough products to meet customer needs and can reduce unused products by up to 10% dead stock. This enables the company to order products more accurately, increasing profits and storage space.

Keywords: demand forecast, reorder point, lost sale, dead stock

Procedia PDF Downloads 94

Authors: Zarmina Gillani, Nuzhat Huma, Aysha Sameen, Mulazim Hussain Bukhari

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Whey is an excellent food ingredient owing to its high nutritive value and its functional properties. However, composition of whey varies depending on composition of milk, processing conditions, processing method, and its whey protein content. The aim of this study was to prepare a whey powder from raw whey and to determine the influence of different processing temperatures (160 and 180 °C) on the physicochemical, functional properties during storage of 180 days and on whey protein denaturation. Results have shown that temperature significantly (P < 0.05) affects the pH, acidity, non-protein nitrogen (NPN), protein total soluble solids, fat and lactose contents. Significantly (p < 0.05) higher foaming capacity (FC), foam stability (FS), whey protein nitrogen index (WPNI), and a lower turbidity and solubility index (SI) were observed in whey powder processed at 160 °C compared to whey powder processed at 180 °C. During storage of 180 days, slow but progressive changes were noticed on the physicochemical and functional properties of whey powder. Reverse phase-HPLC analysis revealed a significant (P < 0.05) effect of temperature on whey protein contents. Denaturation of β-Lactoglobulin is followed by α-lacalbumin, casein glycomacropeptide (CMP/GMP), and bovine serum albumin (BSA).

Keywords: whey powder, temperature, denaturation, reverse phase, HPLC

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Authors: Ayman El Sabagh, AbdElhamid Omar, Dekoum Assaha, Khair Mohammad Youldash, Akihiro Ueda, Celaleddin Barutçular, Hirofumi Saneoka

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Drought and salinity stress are a worldwide problem, constraining global crop production seriously. Hence, soybean is susceptible to yield loss from water deficit and salinity stress. Therefore, different approaches have been suggested to solve these issues. Osmoprotectants play an important role in protection the plants from various environmental stresses. Moreover, organic fertilization has several beneficial effects on agricultural fields. Presently, efforts to maximize nitrogen fixation in soybean are critical because of widespread increase in soil degradation in Egypt. Therefore, a greenhouse research was conducted at plant nutritional physiology laboratory, Hiroshima University, Japan for assessing the impact of exogenous osmoregulators and compost application in alleviating the adverse effects of salinity and water stress on soybean. Treatments was included (i) water stress treatments (different soil moisture levels consisting of (100%, 75%, and 50% of field water holding capacity), (ii) salinity concentrations (0 and 15 mM) were applied in fully developed trifoliolate leaf node (V1), (iii) compost treatments (0 and 24 t ha-1) and (iv) the exogenous, proline and glycine betaine concentrations (0 mM and 25 mM) for each, was applied at two growth stages (V1 and R1). The seeds of soybean cultivar Giza 111, was sown into basin from wood (length10 meter, width 50cm, height 50cm and depth 350cm) containing a soil mixture of granite regosol soil and perlite (2:1 v/v). The nitrogen-fixing activity was estimated by using gas chromatography and all measurements were made in three replicates. The results showed that water deficit and salinity stress reduced biological nitrogen fixation and specific nodule activity than normal irrigation conditions. Exogenous osmoprotectants were improved biological nitrogen fixation and specific nodule activity as well as, applying of compost led to improving many of biological nitrogen fixation and specific nodule activity with superiority than stress conditions. The combined application compost fertilizer and exogenous osmoprotectants were more effective in alleviating the adverse effect of stress to improve biological nitrogen fixation and specific nodule activity of Soybean.

Keywords: a biotic stress, biological nitrogen fixation, compost, osmoprotectants, specific nodule activity, soybean

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Authors: Chen-Yin Kuo, Yung-Hsin Lee

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Previous studies applying residual income valuation (RIV) model generally use panel data and single-equation model to forecast stock prices. Unlike these, this paper uses Taiwan longitudinal data to estimate multi-equation time-series models such as Vector Autoregressive (VAR), Vector Error Correction Model (VECM), and conduct out-of-sample forecasting. Further, this work assesses their forecasting performance by two instruments. In favor of extant research, the major finding shows that VECM outperforms other three models in forecasting for three stock sectors over entire horizons. It implies that an error correction term containing long-run information contributes to improve forecasting accuracy. Moreover, the pattern of composite shows that at longer horizon, VECM produces the greater reduction in errors, and performs substantially better than VAR.

Keywords: residual income valuation model, vector error correction model, out of sample forecasting, forecasting accuracy

Procedia PDF Downloads 299

Authors: Fatemeh Norouzi

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Today, financial performance has become one of the important issues in accounting and auditing that companies and their managers have paid attention to this issue and for this reason to the variables that are influential in this field. One of the things that can affect financial performance is corporate governance, which is examined in this research, although some things such as issues related to auditing can also moderate this relationship; Therefore, this research has been conducted with the aim of investigating the relationship between corporate governance and financial performance with regard to the moderating role of feedback and internal control weakness. The research is practical in terms of purpose, and in terms of method, it has been done in a post-event descriptive manner, in which the data has been analyzed using stock market data. Data collection has been done by using stock exchange data which has been extracted from the website of the Iraqi Stock Exchange, the statistical population of this research is all the companies admitted to the Iraqi Stock Exchange. . The statistical sample in this research is considered from 2014 to 2021, which includes 34 companies. Four different models have been considered for the research hypotheses, which are eight hypotheses, in this research, the analysis has been done using EXCEL and STATA15 software. In this article, collinearity test, integration test ,determination of fixed effects and correlation matrix results, have been used. The research results showed that the first four hypotheses were rejected and the second four hypotheses were confirmed.

Keywords: size of the board of directors, duality of the CEO, financial performance, internal control weakness

Procedia PDF Downloads 73

Authors: Yousef Abu Nahleh, Alhasan Hakami, Arun Kumar, Fugen Daver

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This study considers the problem of calculating safety stocks in disaster situations inventory systems that face demand uncertainties. Safety stocks are essential to make the supply chain, which is controlled by forecasts of customer needs, in response to demand uncertainties and to reach predefined goal service levels. To solve the problem of uncertainties due to the disaster situations affecting the industry sector, the concept of Emergency Safety Stock (ESS) was proposed. While there exists a huge body of literature on determining safety stock levels, this literature does not address the problem arising due to the disaster and dealing with the situations. In this paper, the problem of improving the Order Quantity Model to deal with uncertainty of demand due to disasters is managed by incorporating a new idea called ESS which is based on the probability of disaster occurrence and uses probability matrix calculated from the historical data.

Keywords: Emergency Safety Stocks, safety stocks, Order Quantity Model, supply chain

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Authors: Swati Tomar, Sunil Kumar Gupta

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Anammox is a novel and promising technology that has changed the traditional concept of biological nitrogen removal. The process facilitates direct oxidation of ammonical nitrogen under anaerobic conditions with nitrite as an electron acceptor without the addition of external carbon sources. The present study investigated the feasibility of anammox hybrid reactor (AHR) combining the dual advantages of suspended and attached growth media for biodegradation of ammonical nitrogen in wastewater. The experimental unit consisted of 4 nos. of 5L capacity AHR inoculated with mixed seed culture containing anoxic and activated sludge (1:1). The process was established by feeding the reactors with synthetic wastewater containing NH4-H and NO2-N in the ratio 1:1 at HRT (hydraulic retention time) of 1 day. The reactors were gradually acclimated to higher ammonium concentration till it attained pseudo steady state removal at a total nitrogen concentration of 1200 mg/l. During this period, the performance of the AHR was monitored at twelve different HRTs varying from 0.25-3.0 d with increasing NLR from 0.4 to 4.8 kg N/m3d. AHR demonstrated significantly higher nitrogen removal (95.1%) at optimal HRT of 1 day. Filter media in AHR contributed an additional 27.2% ammonium removal in addition to 72% reduction in the sludge washout rate. This may be attributed to the functional mechanism of filter media which acts as a mechanical sieve and reduces the sludge washout rate many folds. This enhances the biomass retention capacity of the reactor by 25%, which is the key parameter for successful operation of high rate bioreactors. The effluent nitrate concentration, which is one of the bottlenecks of anammox process was also minimised significantly (42.3-52.3 mg/L). Process kinetics was evaluated using first order and Grau-second order models. The first-order substrate removal rate constant was found as 13.0 d-1. Model validation revealed that Grau second order model was more precise and predicted effluent nitrogen concentration with least error (1.84±10%). A new mathematical model based on mass balance was developed to predict N2 gas in AHR. The mass balance model derived from total nitrogen dictated significantly higher correlation (R2=0.986) and predicted N2 gas with least error of precision (0.12±8.49%). SEM study of biomass indicated the presence of the heterogeneous population of cocci and rod shaped bacteria of average diameter varying from 1.2-1.5 mm. Owing to enhanced NRE coupled with meagre production of effluent nitrate and its ability to retain high biomass, AHR proved to be the most competitive reactor configuration for dealing with nitrogen laden wastewater.

Keywords: anammox, filter media, kinetics, nitrogen removal

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Authors: Hongtao Zhu, Dezhi Sun

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Nitrogen and phosphorus are essential nutrients for biomass growth. But excessive nitrogen and phosphorus can contribute to accelerated eutrophication of lakes and rivers. Constructed wetland is an efficient and eco-friendly wastewater treatment technology with low operating cost and low-energy consumption. Because of high affinity with ammonium ion, zeolite, as a common substrate, is applied in constructed wetlands worldwide. Another substrate seen commonly for constructed wetlands is steel slag, which has high contents of Ca, Al, or Fe, and possesses a strong affinity with phosphate. Due to the excellent ammonium removal ability of zeolite and phosphate removal ability of steel slag, they were considered to be combined in the substrate bed of a constructed wetland in order to enhance the simultaneous removal efficiencies of nitrogen and phosphorus. In our early tests, zeolite and steel slag were combined with each other in order to simultaneously achieve a high removal efficiency of ammonium-nitrogen and phosphate-phosphorus. However, compared with the results when only zeolite was used, the removal efficiency of ammonia was sharply decreased when zeolite and steel slag were used together. The main objective of this study was to establish an overview of the interaction of steel slag and zeolite on ammonium nitrogen removal. The CaO dissolution from slag, as well as the effects of influencing parameters (i.e. pH and Ca2+ concentration) on the ammonium adsorption onto zeolite, was systematically studied. Modeling results of Ca2+ and OH- release from slag indicated that pseudo-second order reaction had a better fitness than pseudo-first order reaction. Changing pH value from 7 to 12 would result in a drastic reduction of the ammonium adsorption capacity on zeolite, from the peak at pH7. High Ca2+ concentration in solution could also inhibit the adsorption of ammonium onto zeolite. The mechanism for steel slag inhibiting the ammonium adsorption capacity of zeolite includes: on one hand, OH- released from steel slag can react with ammonium ions to produce molecular form ammonia (NH3∙H2O), which would cause the dissociation of NH4+ from zeolite. On the other hand, Ca2+ could replace the NH4+ ions to adhere onto the surface of zeolite. An innovative substrate filling configuration that zeolite and steel slag are placed sequentially was proposed to eliminate the disadvantageous effects of steel slag. Experimental results showed that the novel filling configuration was superior to the other two contrast filling configurations in terms of ammonium removal.

Keywords: ammonium nitrogen, constructed wetlands, steel slag, zeolite

Procedia PDF Downloads 234

Authors: E. O. Adeleye

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Field experiments were conducted to investigate the effect of soil tillage techniques and poultry manure application on the soil properties and yam (Dioscorea rotundata) performance in Ondo, southwestern Nigeria for two farming seasons. Five soil tillage techniques, namely ploughing (P), ploughing plus harrowing (PH), manual ridging (MR), manual heaping (MH) and zero-tillage (ZT) each combined with and without poultry manure at the rate of 10 tha-1 were investigated. Data were obtained on soil properties, nutrient uptake, growth and yield of yam. Soil moisture content, bulk density, total porosity and post harvest soil chemical characteristics were significantly (p>0.05) influenced by soil tillage-manure treatments. Addition of poultry manure to the tillage techniques in the study increased soil total porosity, soil moisture content and reduced soil bulk density. Poultry manure improved soil organic matter, total nitrogen, available phosphorous, exchangeable Ca, k, leaf nutrients content of yam, yam growth and tuber yield relative to tillage techniques plots without poultry manure application. It is concluded that the possible deleterious effect of tillage on soil properties, growth and yield of yam on an alfisol in southwestern Nigeria can be reduced by combining tillage with poultry manure.

Keywords: poultry manure, tillage, soil chemical properties, yield

Procedia PDF Downloads 428

Authors: Zain Alammari, Emna M. Mhedhbi, Claudio G. Grunewald

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This study aims to compare a standard F2 media to a local media called Altakamul. The new media was tested in Nannochloropsissp cultures at a lab scale. The main difference between both media is the Nitrogen source (NaNO3 in F/2 and NH4 in Altakamul). According to the preliminary results during three weeks experiments, no significant differences were found between F2 and Alatakamul media in terms of Nannochloropsis growth. We can anticipate that Altakamul media will be the cheapest media option for microalgae cultivation at a higher scale, reducing the OPEX

Keywords: microalgae, nannochloropsis, culture, nitrogen

Procedia PDF Downloads 142