Search results for: residential property market
2525 Monitoring Peri-Urban Growth and Land Use Dynamics with GIS and Remote Sensing Techniques: A Case Study of Burdwan City, India
Authors: Mohammad Arif, Soumen Chatterjee, Krishnendu Gupta
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The peri-urban interface is an area of transition where the urban and rural areas meet and interact. So the peri-urban areas, which is characterized by strong urban influence, easy access to markets, services and other inputs, are ready supplies of labour but distant from the land paucity and pollution related to urban growth. Hence, the present study is primarily aimed at quantifying the spatio-temporal pattern of land use/land cover change during the last three decades (i.e., 1987 to 2016) in the peri-urban area of Burdwan city. In the recent past, the morphology of the study region has rapid change due to high growth of population and establishment of industries. The change has predominantly taken place along the State and National Highway 2 (NH-2) and around the Burdwan Municipality for meeting both residential and commercial purposes. To ascertain the degree of change in land use and land cover, over the specified time, satellite imageries and topographical sheets are employed. The data is processed through appropriate software packages to arrive at a deduction that most of the land use changes have occurred by obliterating agricultural land & water bodies and substituting them by built area and industrial spaces. Geospatial analysis of study area showed that this area has experienced a steep increase (30%) of built-up areas and excessive decrease (15%) in croplands between 1987 and 2016. Increase in built-up areas is attributed to the increase of out-migration during this period from the core city. This study also examined social, economic and institutional factors that lead to this rapid land use change in peri-urban areas of the Burdwan city by carrying out a field survey of 250 households in peri-urban areas. The research concludes with an urgency for regulating land subdivisions in peri-urban areas to prevent haphazard land use development. It is expected that the findings of the study would go a long way in facilitating better policy making.Keywords: growth, land use land cover, morphology, peri-urban, policy making
Procedia PDF Downloads 1752524 E-Hailing Taxi Industry Management Mode Innovation Based on the Credit Evaluation
Authors: Yuan-lin Liu, Ye Li, Tian Xia
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There are some shortcomings in Chinese existing taxi management modes. This paper suggests to establish the third-party comprehensive information management platform and put forward an evaluation model based on credit. Four indicators are used to evaluate the drivers’ credit, they are passengers’ evaluation score, driving behavior evaluation, drivers’ average bad record number, and personal credit score. A weighted clustering method is used to achieve credit level evaluation for taxi drivers. The management of taxi industry is based on the credit level, while the grade of the drivers is accorded to their credit rating. Credit rating determines the cost, income levels, the market access, useful period of license and the level of wage and bonus, as well as violation fine. These methods can make the credit evaluation effective. In conclusion, more credit data will help to set up a more accurate and detailed classification standard library.Keywords: credit, mobile internet, e-hailing taxi, management mode, weighted cluster
Procedia PDF Downloads 3252523 Development of Composite Material for Thermal and Electrical Insulation
Authors: Elmo Thiago Lins Cöuras Ford, Valentina Alessandra Carvalho do Vale, Rubens Maribondo do Nascimento, José Ubiragi de Lima Mendes
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Recycling has been greatly stimulated by the market. There are already several products that are produced with recycled materials and various wastes have been studied in various forms of applications. The vast majority of insulation applications in domestic, commercial and industrial systems in the range of low and medium temperatures (up to 180 ° C), using the aggressive nature materials such as glass wool, rock wool, polyurethane, polystyrene. Such materials, while retaining the effectiveness of the heat flux, are disposed as expensive and take years too absorbed by nature. Thus, trying to adapt to a global policy on the preservation of the environment, a study in order to develop an insulating compound of natural / industrial waste and biodegradable materials conducted. Thus, this research presents the development of a composite material based zest tire and latex for thermal and electrical insulation.Keywords: composite, latex, scrapes tire, insulation, electrical
Procedia PDF Downloads 5352522 Hepatoprotective Effects of Parsley, Basil, and Chicory Aqueous Extracts against Dexamethasone-Induced in Experimental Rats
Authors: Hanan A. Soliman, Mohamed A. El-Desouky, Walaa G. Hozayen, Rasha R. Ahmed, Amal K . Khaliefa
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Aim: The objective of this study is to investigate the hypoglycemic, hypolipidemic, and hepatoprotective effects of the aqueous extract of parsley, basil, and chicory whole plant in normal and dexamethasone (Dex) rats. Materials and Methods: 50 female albino rats were used in this study and divided into 5 groups (for each 10). Group (1) fed basal diet and maintained as negative control group. Group (2) received Dex in a dose of (0.1 mg/kg b. wt.). Groups 3, 4, and 5 were treated with Dex along with three different plant extracts of parsley, basil, and chicory (2 g/kg b. wt.), (400 mg/kg b. wt.), and (100 mg/kg b. wt.), respectively. Results: All these groups were treated given three times per week for 8 consecutive weeks. Dex-induced alterations in the levels of serum glucose, triglyceride, cholesterol, low-density lipoprotein-cholesterol levels and cardiovascular indices and serum alanine aminotransferase, aspartate aminotransferase and lactate dehydrogenase activities, liver thiobarbituric acid (TBARS) levels increased, while high-density lipoprotein-cholesterol, total protein, albumin, and liver glutathione (GSH) levels decreased. On the other hand, plant extracts succeeded to modulate these observed abnormalities resulting from Dex as indicated by the reduction of glucose, cholesterol, TBARS, and the pronounced improvement of the investigated biochemical and antioxidant parameters. Conclusions: It was concluded that probably, due to its antioxidant property, parsley, basil, and chicory extracts have hepatoprotective effects in Dex-induced in rats.Keywords: antioxidants, dexamethasone, hyperglycemia, hyperlipidemia
Procedia PDF Downloads 2432521 Strategies to Promote Safety and Reduce the Vulnerability of Urban Worn-out Textures to the Potential Risk of Earthquake
Authors: Bahareh Montakhabi
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Earthquake is known as one of the deadliest natural disasters, with a high potential for damage to life and property. Some of Iran's cities were completely destroyed after major earthquakes, and the people of the region suffered a lot of mental, financial and psychological damage. Tehran is one of the cities located on the fault line. According to experts, the only city that could be severely damaged by a moderate earthquake in Earthquake Engineering Intensity Scale (EEIS) (70% destruction) is Tehran because Tehran is built precisely on the fault. Seismic risk assessment (SRA) of cities in the scale of urban areas and neighborhoods is the first phase of the earthquake crisis management process, which can provide the information required to make optimal use of available resources and facilities in order to reduce the destructive effects and consequences of an earthquake. This study has investigated strategies to promote safety and reduce the vulnerability of worn-out urban textures in the District 12 of Tehran to the potential risk of earthquake aimed at prioritizing the factors affecting the vulnerability of worn-out urban textures to earthquake crises and how to reduce them, using the analytical-exploratory method, analytical hierarchy process (AHP), Expert choice and SWOT technique. The results of SWAT and AHP analysis of the vulnerability of the worn-out textures of District 12 to internal threats (1.70) and external threats (2.40) indicate weak safety of the textures of District 12 regarding internal and external factors and a high possibility of damage.Keywords: risk management, vulnerability, worn-out textures, earthquake
Procedia PDF Downloads 1932520 Implied Adjusted Volatility by Leland Option Pricing Models: Evidence from Australian Index Options
Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris
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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.Keywords: implied adjusted volatility, financial crisis, Leland option pricing models, Australian index options
Procedia PDF Downloads 3792519 Effect of Filler Metal Diameter on Weld Joint of Carbon Steel SA516 Gr 70 and Filler Metal SFA 5.17 in Submerged Arc Welding SAW
Authors: A. Nait Salah, M. Kaddami
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This work describes an investigation on the effect of filler metals diameter to weld joint, and low alloy carbon steel A516 Grade 70 is the base metal. Commercially SA516 Grade70 is frequently used for the manufacturing of pressure vessels, boilers and storage tank, etc. In fabrication industry, the hardness of the weld joint is between the important parameters to check, after heat treatment of the weld. Submerged arc welding (SAW) is used with two filler metal diameters, and this solid wire electrode is used for SAW non-alloy and for fine grain steels (SFA 5.17). The different diameters were selected (Ø = 2.4 mm and Ø = 4 mm) to weld two specimens. Both specimens were subjected to the same preparation conditions, heat treatment, macrograph, metallurgy micrograph, and micro-hardness test. Samples show almost similar structure with highest hardness. It is important to indicate that the thickness used in the base metal is 22 mm, and all specifications, preparation and controls were according to the ASME section IX. It was observed that two different filler metal diameters performed on two similar specimens demonstrated that the mechanical property (hardness) increases with decreasing diameter. It means that even the heat treatment has the same effect with the same conditions, the filler metal diameter insures a depth weld penetration and better homogenization. Hence, the SAW welding technique mentioned in the present study is favorable to implicate for the industry using the small filler metal diameter.Keywords: ASME, base metal, micro-hardness test, submerged arc welding
Procedia PDF Downloads 1532518 Enhanced Planar Pattern Tracking for an Outdoor Augmented Reality System
Authors: L. Yu, W. K. Li, S. K. Ong, A. Y. C. Nee
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In this paper, a scalable augmented reality framework for handheld devices is presented. The presented framework is enabled by using a server-client data communication structure, in which the search for tracking targets among a database of images is performed on the server-side while pixel-wise 3D tracking is performed on the client-side, which, in this case, is a handheld mobile device. Image search on the server-side adopts a residual-enhanced image descriptors representation that gives the framework a scalability property. The tracking algorithm on the client-side is based on a gravity-aligned feature descriptor which takes the advantage of a sensor-equipped mobile device and an optimized intensity-based image alignment approach that ensures the accuracy of 3D tracking. Automatic content streaming is achieved by using a key-frame selection algorithm, client working phase monitoring and standardized rules for content communication between the server and client. The recognition accuracy test performed on a standard dataset shows that the method adopted in the presented framework outperforms the Bag-of-Words (BoW) method that has been used in some of the previous systems. Experimental test conducted on a set of video sequences indicated the real-time performance of the tracking system with a frame rate at 15-30 frames per second. The presented framework is exposed to be functional in practical situations with a demonstration application on a campus walk-around.Keywords: augmented reality framework, server-client model, vision-based tracking, image search
Procedia PDF Downloads 2752517 Thickness Effect on Concrete Fracture Toughness K1c
Authors: Benzerara Mohammed, Redjel Bachir, Kebaili Bachir
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The cracking of the concrete is a more crucial problem with the development of the complex structures related to technological progress. The projections in the knowledge of the breaking process make it possible today for better prevention of the risk of the fracture. The breaking strength brutal of a quasi-fragile material like the concrete called Toughness, is measured by a breaking value of the factor of intensity of the constraints K1C for which the crack is propagated, it is an intrinsic property of material. Many studies reported in the literature treating of the concrete were carried out on specimens which are in fact inadequate compared to the intrinsic characteristic to identify. We started from this established fact, in order to compare the evolution of the parameter of toughness K1C measured by calling upon ordinary concrete specimens of three prismatics geometries different (10*10*84) cm³ and (5*20*120) cm³ &(12*20*120) cm³ containing from the side notches various depths simulating of the cracks was set up. The notches are carried out using triangular pyramidal plates into manufactured out of sheet coated placed at the centre of the specimens at the time of the casting, then withdrawn to leave the trace of a crack. The tests are carried out in 3 points bending test in mode 1 of fracture, by using the techniques of mechanical fracture. The evolution of the parameter of toughness K1C measured with the three geometries specimens gives almost the same results. They are acceptable and return in the beach of the results determined by various researchers (toughness of the ordinary concrete turns to the turn of the 1 MPa √m). These results inform us about the presence of an economy on the level of the geometrie specimen (5*20*120) cm³, therefore to use plates specimens later if one wants to master the toughness of this material complexes, astonishing but always essential that is the concrete.Keywords: elementary representative volume, concrete, fissure, toughness
Procedia PDF Downloads 2222516 Does sustainability disclosure improve analysts’ forecast accuracy Evidence from European banks
Authors: Albert Acheampong, Tamer Elshandidy
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We investigate the extent to which sustainability disclosure from the narrative section of European banks’ annual reports improves analyst forecast accuracy. We capture sustainability disclosure using a machine learning approach and use forecast error to proxy analyst forecast accuracy. Our results suggest that sustainability disclosure significantly improves analyst forecast accuracy by reducing the forecast error. In a further analysis, we also find that the induction of Directive 2014/95/European Union (EU) is associated with increased disclosure content, which then reduces forecast error. Collectively, our results suggest that sustainability disclosure improves forecast accuracy, and the induction of the new EU directive strengthens this improvement. These results hold after several further and robustness analyses. Our findings have implications for market participants and policymakers.Keywords: sustainability disclosure, machine learning, analyst forecast accuracy, forecast error, European banks, EU directive
Procedia PDF Downloads 762515 Post Mutiny Institutional Buildings of India: A Visual Language of Reconciliation
Authors: Aruna Ramani Grover
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In 1857 the British army in Bengal rose in mutiny. The outcome of a yearlong stifle was the abolition of the East India Company and establishment of Crown rule in 1958. Despite being a political democracy back home, with the declaration of Queen Victoria as Empress of India, the British established themselves as imperialistic successors to the Mughals in India. With the institution of the Crown role in the sub-continent, there was a serious endeavour for systematic governance. This led to infrastructure development and creation of institutions as well. The outcome was many public buildings like courts, railway- stations and headquarters, senates, post offices, banks, libraries, memorial halls, museums, memorials, theatres, government colleges, residential-schools and clock towers. These were built in the old and emerging urban settlements of the sub-continents. In the realm of architecture, like all political masters of the past, the British architects too encountered the living tradition of the sub-continent. A bewildering plethora of buildings in various climatic zones, using local materials and crafted with tools and techniques of the region by local craftsmen had to be understood and assimilated. The19th century British architects who built in India, designed institutional buildings which were functional and responded to the need of the user. In visual terms however, it was a completely different story. Using the manifest elements of the complex and layered indigenous tradition, they fashioned buildings to create an architecture of reconciliation. Treating the traditional architecture as a pattern book, finished buildings was served up to the local population coloured by their understanding of tradition. This paper will discuss a series of building some of which are the Senate House and Law courts at Madras, the Municipal Building and Gateway of India in Bombay, the Muir college in Allahabad, Mayo college Ajmer, the Mubarak Mahal in Jaipur to demonstrate how a visual language of reconciliation was created.Keywords: infrastructure, British architects, tradition, pattern book, reconciliation
Procedia PDF Downloads 322514 A Context-Centric Chatbot for Cryptocurrency Using the Bidirectional Encoder Representations from Transformers Neural Networks
Authors: Qitao Xie, Qingquan Zhang, Xiaofei Zhang, Di Tian, Ruixuan Wen, Ting Zhu, Ping Yi, Xin Li
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Inspired by the recent movement of digital currency, we are building a question answering system concerning the subject of cryptocurrency using Bidirectional Encoder Representations from Transformers (BERT). The motivation behind this work is to properly assist digital currency investors by directing them to the corresponding knowledge bases that can offer them help and increase the querying speed. BERT, one of newest language models in natural language processing, was investigated to improve the quality of generated responses. We studied different combinations of hyperparameters of the BERT model to obtain the best fit responses. Further, we created an intelligent chatbot for cryptocurrency using BERT. A chatbot using BERT shows great potential for the further advancement of a cryptocurrency market tool. We show that the BERT neural networks generalize well to other tasks by applying it successfully to cryptocurrency.Keywords: bidirectional encoder representations from transformers, BERT, chatbot, cryptocurrency, deep learning
Procedia PDF Downloads 1472513 Polyvinyl Alcohol Processed Templated Polyaniline Films: Preparation, Characterization and Assessment of Tensile Strength
Authors: J. Subbalakshmi, G. Dhruvasamhith, S. M. Hussain
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Polyaniline (PANI) is one of the most extensively studied material among the conducting polymers due to its simple synthesis by chemical and electrochemical routes. PANIs have advantages of chemical stability and high conductivity making their commercial applications quite attractive. However, to our knowledge, very little work has been reported on the tensile strength properties of templated PANIs processed with polyvinyl alcohol and also, detailed study has not been carried out. We have investigated the effect of small molecule and polymers as templates on PANI. Stable aqueous colloidal suspensions of trisodium citrate (TSC), poly(ethylenedioxythiophene)-polystyrene sulfonate (PEDOT-PSS), and polyethylene glycol (PEG) templated PANIs were prepared through chemical synthesis, processed with polyvinyl alcohol (PVA) and were fabricated into films by solution casting. Absorption and infra-red spectra were studied to gain insight into the possible molecular interactions. Surface morphology was studied through scanning electron microscope and optical microscope. Interestingly, tensile testing studies revealed least strain for pure PVA when compared to the blends of templated PANI. Furthermore, among the blends, TSC templated PANI possessed maximum elasticity. The ultimate tensile strength for PVA processed, PEG-templated PANI was found to be five times more than other blends considered in this study. We establish structure–property correlation with morphology, spectral characterization and tensile testing studies.Keywords: surface morphology, processed films, polyvinyl alcohol, templated polyanilines, tensile testing
Procedia PDF Downloads 2142512 An Analysis of the Relationship between Consumer Perception and Purchase Behavior towards Green Fashion in India
Authors: Upasna Bhandari, Indranil Saha, Deepak John Mathew
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The green fashion market is growing rapidly as eco-friendly consumers are willing to expand their organic lifestyle to include clothing. With an increasing share of fashion consumers globally, Indian consumers are observed to consider the social and environmental ethics while making purchasing decisions. While some research clearly identifies the efforts of responsible consumers towards green fashion, some argue that fashion-orientated consumers who are sensitive towards environment do not actively participate towards supporting green fashion. This study aims to analyze the current perception of green fashion among Indian consumers. A small-scale exploratory study is conducted where consumers’ perception of green fashion is examined followed by an analysis of translation of this perception into purchase decision making. This research paper gives insight into consumer awareness on green fashion and provides scope towards the expansion of ethical fashion consumption within the demography of India.Keywords: consumer perception, environmental attitudes, fashion retailing, green fashion, sustainability
Procedia PDF Downloads 4402511 What Do Board Members Learn from Their External Connectedness? The Case of Firm Diversification
Authors: Pei-Gi Shu, Yin-Hua Yeh, Chao-Ting Chen
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Using a dataset consisting of 7,120 firm-year observations from the Taiwan stock market over the 2007-2011 sample period, we find a significantly negative relationship between board external connectedness and firm diversification. We propose a learningeffect hypothesis indicating that an externally connected board member’s experiences in other companies directly affect his recommendations regarding the underlying firm’s diversification. The partial correlation between diversification and the performance of firms with externally connected board members is used as a proxy for the learning effect. The empirical results show that the learning effect is asymmetrically embedded in firm diversification, with negative experiences having a greater effect on firm diversification than positive experiences. Externally connected board members are associated with reduced diversification in one firm after they learn that diversification is detrimental to value in other companies. Moreover, the diversification of a firm due to board external connectedness is moderated by the controlling owner’s interest alignment and entrenchment.Keywords: board, external, connectedness, diversification
Procedia PDF Downloads 4622510 Development of a Symbiotic Milk Chocolate Using Inulin and Bifidobacterium Lactis
Authors: Guity Karim, Valiollah Ayareh
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Probiotic dairy products are those that contain biologically active components that may affect beneficially one or more target functions in the body, beyond their adequate nutritional effects. As far as chocolate milk is a popular dairy product in the country especially among children and youth, production of a symbiotic (probiotic + peribiotic) new product using chocolate milk, Bifidobacterium lactis (DSM, Netherland) and inulin (Bene, Belgium) would help to promote the nutritional and functional properties of this product. Bifidobacterium Lactis is used as a probiotic in a variety of foods, particularly dairy products like yogurt and as a probiotic bacterium has benefit effects on the human health. Inulin as a peribiotic agent is considered as functional food ingredient. Experimental studies have shown its use as bifidogenic agent. Chocolate milk with different percent of fat (1 and 2 percent), 6 % of sugar and 0.9 % cacao was made, sterilized (UHT) and supplemented with Bifidobacterium lactis and inulin (0.5 %) after cooling . A sample was made without inulin as a control. Bifidobacterium lactis population was enumerated at days 0, 4, 8 and 12 together with measurement of pH, acidity and viscosity of the samples. Also sensory property of the product was evaluated by a 15 panel testers. The number of live bacterial cells was maintained at the functional level of 106-108 cfu/ml after keeping for 12 days in refrigerated temperature (4°C). Coliforms were found to be absent in the products during the storage. Chocolate milk containing 1% fat and inulin has the best effect on the survival and number of B. lactis at day 8 and after that. Moreover, the addition of inulin did not affect the sensorial quality of the product. In this work, chocolate has been evaluated as a potential protective carrier for oral delivery of B. lactis and inulin.Keywords: chocolate milk, synbiotic, bifidobacterium lactis, inulin
Procedia PDF Downloads 3602509 Testing the Change in Correlation Structure across Markets: High-Dimensional Data
Authors: Malay Bhattacharyya, Saparya Suresh
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The Correlation Structure associated with a portfolio is subjected to vary across time. Studying the structural breaks in the time-dependent Correlation matrix associated with a collection had been a subject of interest for a better understanding of the market movements, portfolio selection, etc. The current paper proposes a methodology for testing the change in the time-dependent correlation structure of a portfolio in the high dimensional data using the techniques of generalized inverse, singular valued decomposition and multivariate distribution theory which has not been addressed so far. The asymptotic properties of the proposed test are derived. Also, the performance and the validity of the method is tested on a real data set. The proposed test performs well for detecting the change in the dependence of global markets in the context of high dimensional data.Keywords: correlation structure, high dimensional data, multivariate distribution theory, singular valued decomposition
Procedia PDF Downloads 1252508 Corporate Governance and Initial Public Offerings: Case of Croatia
Authors: Domagoj Hruska, Drazen Milkovic, Maja Darabos
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This paper empirically investigates the performance of Croatian initial public offerings (IPOs) throughout 20 years period, from 1996 until 2016. By proving the comprehensive evaluation of reasons and consequences of IPO initiatives in Croatia we give analytic evidence on the influence of this corporate action on the development of corporate governance. Furthermore, the paper discusses the relationship between internal and external corporate governance mechanisms in companies that initialize entering the financial markets. The paper will provide a synthesis of evidence of IPO-s in Croatia based on in-depth case studies of 13 cases of IPO-s. The major findings of the paper include identification of reasons for conducting IPO-s and calculation of underpricing effect and change of market capitalization. To the best of the author's knowledge, the results of the paper provide the analytical framework for understanding the impact of IPOs on the corporate governance system in transition countries.Keywords: corporate governance, Croatia, initial public offering, transition economy
Procedia PDF Downloads 1642507 Research into Factors Affecting the Attitudes of University Students towards WeChat Marketing Based on AISAS Mode
Authors: Du Zhiqin
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WeChat is an instant messaging service similar to WhatsApp developed by Tencent, one of China's largest and most used Internet service portals. This paper investigates the penetration of WeChat among university students through a questionnaire, analyzes the effect of brand influence, information quality, interactivity, opinions of opinion-leaders, promotion, personal interests on the attitudes of university students towards WeChat marketing. This paper concludes that the penetration rate of WeChat marketing among university students is generally high enough, WeChat has generally been accepted by students as a way for businesses to market their products, and that all the above-mentioned five factors play a positive role in the process of WeChat marketing. It also proposes that businesses could maximize the effect of WeChat marketing by focusing more resources on the increase of brand influence, and the interactivity of WeChat contents and the use of opinions of opinion-leaders.Keywords: WeChat, university students, marketing, AISAS
Procedia PDF Downloads 5932506 Determination Optimum Strike Price of FX Option Call Spread with USD/IDR Volatility and Garman–Kohlhagen Model Analysis
Authors: Bangkit Adhi Nugraha, Bambang Suripto
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On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016
Procedia PDF Downloads 3802505 On Flow Consolidation Modelling in Urban Congested Areas
Authors: Serban Stere, Stefan Burciu
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The challenging and continuously growing competition in the urban freight transport market emphasizes the need for optimal planning of transportation processes in terms of identifying the solution of consolidating traffic flows in congested urban areas. The aim of the present paper is to present the mathematical framework and propose a methodology of combining urban traffic flows between the distribution centers located at the boundary of a congested urban area. The three scenarios regarding traffic flow between consolidation centers that are taken into consideration in the paper are based on the same characteristics of traffic flows. The scenarios differ in terms of the accessibility of the four consolidation centers given by the infrastructure, the connections between them, and the possibility of consolidating traffic flows for one or multiple destinations. Also, synthetical indicators will allow us to compare the scenarios considered and chose the indicated for our distribution system.Keywords: distribution system, single and multiple destinations, urban consolidation centers, traffic flow consolidation schemes
Procedia PDF Downloads 1562504 Data-driven Decision-Making in Digital Entrepreneurship
Authors: Abeba Nigussie Turi, Xiangming Samuel Li
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Data-driven business models are more typical for established businesses than early-stage startups that strive to penetrate a market. This paper provided an extensive discussion on the principles of data analytics for early-stage digital entrepreneurial businesses. Here, we developed data-driven decision-making (DDDM) framework that applies to startups prone to multifaceted barriers in the form of poor data access, technical and financial constraints, to state some. The startup DDDM framework proposed in this paper is novel in its form encompassing startup data analytics enablers and metrics aligning with startups' business models ranging from customer-centric product development to servitization which is the future of modern digital entrepreneurship.Keywords: startup data analytics, data-driven decision-making, data acquisition, data generation, digital entrepreneurship
Procedia PDF Downloads 3292503 Production of Friendly Environmental Material as Building Element from Plastic Waste
Authors: Dheyaa Wajid Abbood, Mohanad Salih Farhan, Awadh E. Ajeel
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The basic goal of this study is the production of cheap building elements from plastic waste. environmentally friendly and of good thermal insulation. The study depends on the addition of plastic waste as aggregates to the mixes of concrete at different percentages by weight (12 percentages) to produce lightweight aggregate concrete the density (1095 - 1892) kg/m3.The experimental work includes 120 specimens of concrete 72 cubes (150*150*150)mm, 48 cylinder (150*300) mm. The results obtained for concrete were for local raw materials without any additional materials or treatment. The mechanical and thermal properties determined were (compressive strength, static modulus of elasticity, density, thermal conductivity (k), specific heat capacity (Cp), thermal expansion (α) after (7) days of curing at 20 0C. The increase in amount of plastic waste decreases the density of concrete which leads to decrease in the mechanical and to improvement in thermal properties. The average measured static modulus of elasticity are found less than the predicted static modulus of elasticity and splitting tensile strength (ACI 318-2008 and ACI 213R-2003). All cubes specimens when exposed to heat at (200, 400, 600 0C), the compressive strength of all mixes decreases gradually at 600 0C, the strength of lightweight aggregate concrete were disintegrated. Lightweight aggregate concrete is about 25% lighter than normal concrete in dead load, and to the improve the properties of thermal insulation of building blocks.Keywords: LWAC, plastic waste, thermal property, thermal insulation
Procedia PDF Downloads 4282502 Classification of Hyperspectral Image Using Mathematical Morphological Operator-Based Distance Metric
Authors: Geetika Barman, B. S. Daya Sagar
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In this article, we proposed a pixel-wise classification of hyperspectral images using a mathematical morphology operator-based distance metric called “dilation distance” and “erosion distance”. This method involves measuring the spatial distance between the spectral features of a hyperspectral image across the bands. The key concept of the proposed approach is that the “dilation distance” is the maximum distance a pixel can be moved without changing its classification, whereas the “erosion distance” is the maximum distance that a pixel can be moved before changing its classification. The spectral signature of the hyperspectral image carries unique class information and shape for each class. This article demonstrates how easily the dilation and erosion distance can measure spatial distance compared to other approaches. This property is used to calculate the spatial distance between hyperspectral image feature vectors across the bands. The dissimilarity matrix is then constructed using both measures extracted from the feature spaces. The measured distance metric is used to distinguish between the spectral features of various classes and precisely distinguish between each class. This is illustrated using both toy data and real datasets. Furthermore, we investigated the role of flat vs. non-flat structuring elements in capturing the spatial features of each class in the hyperspectral image. In order to validate, we compared the proposed approach to other existing methods and demonstrated empirically that mathematical operator-based distance metric classification provided competitive results and outperformed some of them.Keywords: dilation distance, erosion distance, hyperspectral image classification, mathematical morphology
Procedia PDF Downloads 872501 The Potential Factors Relating to the Decision of Return Migration of Myanmar Migrant Workers: A Case Study in Prachuap Khiri Khan Province
Authors: Musthaya Patchanee
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The aim of this research is to study potential factors relating to the decision of return migration of Myanmar migrant workers in Prachuap Khiri Khan Province by conducting a random sampling of 400 people aged between 15-59 who migrated from Myanmar. The information collected through interviews was analyzed to find a percentage and mean using the Stepwise Multiple Regression Analysis. The results have shown that 33.25% of Myanmar migrant workers want to return to their home country within the next 1-5 years, 46.25%, in 6-10 years and the rest, in over 10 years. The factors relating to such decision can be concluded that the scale of the decision of return migration has a positive relationship with a statistical significance at 0.05 with a conformity with friends and relatives (r=0.886), a relationship with family and community (r=0.782), possession of land in hometown (r=0.756) and educational level (r=0.699). However, the factor of property possession in Prachuap Khiri Khan is the only factor with a high negative relationship (r=0.-537). From the Stepwise Multiple Regression Analysis, the results have shown that the conformity with friends and relatives and educational level factors are influential to the decision of return migration of Myanmar migrant workers in Prachuap Khiri Khan Province, which can predict the decision at 86.60% and the multiple regression equation from the analysis is Y= 6.744+1.198 conformity + 0.647 education.Keywords: decision of return migration, factors of return migration, Myanmar migrant workers, Prachuap Khiri Khan Province
Procedia PDF Downloads 5412500 Size Effect on Shear Strength of Slender Reinforced Concrete Beams
Authors: Subhan Ahmad, Pradeep Bhargava, Ajay Chourasia
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Shear failure in reinforced concrete beams without shear reinforcement leads to loss of property and life since a very little or no warning occurs before failure as in case of flexural failure. Shear strength of reinforced concrete beams decreases as its depth increases. This phenomenon is generally called as the size effect. In this paper, a comparative analysis is performed to estimate the performance of shear strength models in capturing the size effect of reinforced concrete beams made with conventional concrete, self-compacting concrete, and recycled aggregate concrete. Four shear strength models that account for the size effect in shear are selected from the literature and applied on the datasets of slender reinforced concrete beams. Beams prepared with conventional concrete, self-compacting concrete, and recycled aggregate concrete are considered for the analysis. Results showed that all the four models captured the size effect in shear effectively and produced conservative estimates of the shear strength for beams made with normal strength conventional concrete. These models yielded unconservative estimates for high strength conventional concrete beams with larger effective depths ( > 450 mm). Model of Bazant and Kim (1984) captured the size effect precisely and produced conservative estimates of shear strength of self-compacting concrete beams at all the effective depths. Also, shear strength models considered in this study produced unconservative estimates of shear strength for recycled aggregate concrete beams at all effective depths.Keywords: reinforced concrete beams; shear strength; prediction models; size effect
Procedia PDF Downloads 1612499 Utility Analysis of API Economy Based on Multi-Sided Platform Markets Model
Authors: Mami Sugiura, Shinichi Arakawa, Masayuki Murata, Satoshi Imai, Toru Katagiri, Motoyoshi Sekiya
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API (Application Programming Interface) economy, where many participants join/interact and form the economy, is expected to increase collaboration between information services through API, and thereby, it is expected to increase market value from the service collaborations. In this paper, we introduce API evaluators, which are the activator of API economy by reviewing and/or evaluating APIs, and develop a multi-sided API economy model that formulates interactions among platform provider, API developers, consumers, and API evaluators. By obtaining the equilibrium that maximizes utility of all participants, the impact of API evaluators on the utility of participants in the API economy is revealed. Numerical results show that, with the existence of API evaluators, the number of developers and consumers increase by 1.5% and the utility of platformer increases by 2.3%. We also discuss the strategies of platform provider to maximize its utility under the existence of API evaluators.Keywords: API economy, multi-sided markets, API evaluator, platform, platform provider
Procedia PDF Downloads 1862498 The Professionalization of Teachers in the Context of the Development of a Future-Oriented Technical and Vocational Education and Training System in Egypt
Authors: Sherin Ahmed El-Badry Sadek
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In this research, it is scientifically examined what contribution the professionalization of teachers can make to the development of a future-oriented vocational education and training system in Egypt. For this purpose, a needs assessment of the Egyptian vocational training system with the central actors and prevailing structures forms the foundation of the study, which theoretically underpinned with the attempt to resolve to some extent the tension between Luhmann's systems theory approach and the actor-centered theory of professional teacher competence. The vocational education system, in particular, must be adaptable and flexible due to the rapidly changing qualification requirements. In view of the pace of technological progress and the associated market changes, vocational training is no longer to be understood only as an educational tool aimed at those who achieve poorer academic performance or are not motivated to take up a degree. Rather, it is to be understood as a cornerstone for the development of society, and international experience shows that it is the core of lifelong learning. But to what extent have the education systems been able to react to these changes in their political, social, and technological systems? And how effective and sustainable are these changes actually? The vocational training system, in particular, has a particular impact on other social systems, which is why the appropriate parameters with the greatest leverage must be identified and adapted. Even if systems and structures are highly relevant, teachers must not hide behind them and must instead strive to develop further and to constantly learn. Despite numerous initiatives and programs to reform vocational training in Egypt, including the EU-funded Technical and Vocational Education and Training (TVET) reform phase I and phase II, the fit of the skilled workers to the needs of the labor market is still insufficient. Surveys show that the majority of employers are very dissatisfied with the graduates that the vocational training system produces. The data was collected through guideline-based interviews with experts from the education system and relevant neighboring systems, which allowed me to reconstruct central in-depth structures, as well as patterns of action and interpretation, in order to subsequently feed these into a matrix of recommendations for action. These recommendations are addressed to different decision-makers and stakeholders and are intended to serve as an impetus for the sustainable improvement of the Egyptian vocational training system. The research findings have shown that education, and in particular vocational training, is a political field that is characterized by a high degree of complexity and which is embedded in a barely manageable, highly branched landscape of structures and actors. At the same time, the vocational training system is not only determined by endogenous factors but also increasingly shaped by the dynamics of the environment and the neighboring social subsystems, with a mutual dependency relationship becoming apparent. These interactions must be taken into account in all decisions, even if prioritization of measures and thus a clear sequence and process orientation are of great urgency.Keywords: competence orientation, educational policies, education systems, expert interviews, globalization, organizational development, professionalization, systems theory, teacher training, TVET system, vocational training
Procedia PDF Downloads 1522497 The Promotion Effects for a Supply Chain System with a Dominant Retailer
Authors: Tai-Yue Wang, Yi-Ho Chen
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In this study, we investigate a two-echelon supply chain with two suppliers and three retailers among which one retailer dominates other retailers. A price competition demand function is used to model this dominant retailer, which is leading market. The promotion strategies and negotiation schemes are integrated to form decision-making models under different scenarios. These models are then formulated into different mathematical programming models. The decision variables such as promotional costs, retailer prices, wholesale price, and order quantity are included in these models. At last, the distributions of promotion costs under different cost allocation strategies are discussed. Finally, an empirical example used to validate our models. The results from this empirical example show that the profit model will create the largest profit for the supply chain but with different profit-sharing results. At the same time, the more risk a member can take, the more profits are distributed to that member in the utility model.Keywords: supply chain, price promotion, mathematical models, dominant retailer
Procedia PDF Downloads 4012496 Simulation and Assessment of Carbon Dioxide Separation by Piperazine Blended Solutions Using E-NRTL and Peng-Robinson Models: Study of Regeneration Heat Duty
Authors: Arash Esmaeili, Zhibang Liu, Yang Xiang, Jimmy Yun, Lei Shao
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A high-pressure carbon dioxide (CO₂) absorption from a specific off-gas in a conventional column has been evaluated for the environmental concerns by the Aspen HYSYS simulator using a wide range of single absorbents and piperazine (PZ) blended solutions to estimate the outlet CO₂ concentration, CO₂ loading, reboiler power supply, and regeneration heat duty to choose the most efficient solution in terms of CO₂ removal and required heat duty. The property package, which is compatible with all applied solutions for the simulation in this study, estimates the properties based on the electrolyte non-random two-liquid (E-NRTL) model for electrolyte thermodynamics and Peng-Robinson equation of state for vapor phase and liquid hydrocarbon phase properties. The results of the simulation indicate that piperazine, in addition to the mixture of piperazine and monoethanolamine (MEA), demands the highest regeneration heat duty compared with other studied single and blended amine solutions, respectively. The blended amine solutions with the lowest PZ concentrations (5wt% and 10wt%) were considered and compared to reduce the cost of the process, among which the blended solution of 10wt%PZ+35wt%MDEA (methyldiethanolamine) was found as the most appropriate solution in terms of CO₂ content in the outlet gas, rich-CO₂ loading, and regeneration heat duty.Keywords: absorption, amine solutions, aspen HYSYS, CO₂ loading, piperazine, regeneration heat duty
Procedia PDF Downloads 188