Search results for: Faffa Food Share Company
3170 Time for the United Kingdom to Implement Statutory Clawback Provision on Directors’ Remunerations: Lessons and Experiences from the United States and the Netherlands
Authors: John Kong Shan Ho
Abstract:
Senior executives’ remunerations of public companies have aroused much debate and attention in the media. In the aftermath of the Global Financial Crisis (GFC), excessive executive pay arrangements were blamed for contributing to excessive risk-taking, which caused the financial meltdown. Since then, regulators and lawmakers around the world have introduced regulations to strengthen the corporate governance of listed companies. A key aspect of such reform is by strengthening regulatory intervention over executives’ remunerations and increasing the transparency of such information. This article is written against such background and examines the recent proposal by the UK BEIS to ask the FRC to amend the UK Corporate Governance Code (UKCGC) to strengthen clawback provisions for directors’ remuneration in listed companies as part of its audit reform. The article examines the background and debates regarding the possible implementation of such a measure in the UK. Contrary to the BEIS’ proposal, it argues that implementing it through the UKCGC is unlikely to enhance overall corporate governance and audit quality. It argues that the UK should follow the footsteps of its US and Dutch counterparts by enacting legislation to claw back directors’ remunerations. It will also provide some recommendations as to the key factors that need to be considered in drafting such a statutory provision.Keywords: company law, corporate governance, agency problem, directors' remunerations, clawbacks
Procedia PDF Downloads 1343169 On-Chip Sensor Ellipse Distribution Method and Equivalent Mapping Technique for Real-Time Hardware Trojan Detection and Location
Authors: Longfei Wang, Selçuk Köse
Abstract:
Hardware Trojan becomes great concern as integrated circuit (IC) technology advances and not all manufacturing steps of an IC are accomplished within one company. Real-time hardware Trojan detection is proven to be a feasible way to detect randomly activated Trojans that cannot be detected at testing stage. On-chip sensors serve as a great candidate to implement real-time hardware Trojan detection, however, the optimization of on-chip sensors has not been thoroughly investigated and the location of Trojan has not been carefully explored. On-chip sensor ellipse distribution method and equivalent mapping technique are proposed based on the characteristics of on-chip power delivery network in this paper to address the optimization and distribution of on-chip sensors for real-time hardware Trojan detection as well as to estimate the location and current consumption of hardware Trojan. Simulation results verify that hardware Trojan activation can be effectively detected and the location of a hardware Trojan can be efficiently estimated with less than 5% error for a realistic power grid using our proposed methods. The proposed techniques therefore lay a solid foundation for isolation and even deactivation of hardware Trojans through accurate location of Trojans.Keywords: hardware trojan, on-chip sensor, power distribution network, power/ground noise
Procedia PDF Downloads 3913168 Teachers' Learning Community and Their Self Efficacy
Authors: Noha Desouky Aly, Maged Makram Habib
Abstract:
Given the imperative role educational institutions have in the creation of a motivational learning community that develops and engages their students, the influence of evoking the same environment for their teachers needs to be examined. Teachers and their role lie at the core of the efficiency of the learning experience. One exigent aspect in the process of providing professional development to teachers is to involve them in this process, and the best manner would be through creating a learning community in which they are directly engaged and responsible for their own learning. An educational institution that thinks first of its teachers learning and growth would achieve its goals in providing an effective education for its students. The purpose of this research paper is to examine the effect of engaging teachers in a learning community in which they are responsible for their own learning through conducting and providing the material required for the training on their self efficacy, engagement, and perceived autonomy. The sample includes twenty instructors at the German University in Cairo teaching Academic skills at the Department of English and Scientific Methods. The courses taught at the department include Academic skills, writing argumentative essays, critical thinking, communication and presentation skills, and research paper writing. Procedures for the duration of eight weeks will entail pre-post measures to include The Teachers Self Efficacy Scale and an interview. During the weekly departmental meeting, teachers are to share resources and experiences or research and present a topic of their choice that contributes to their professional development. Results are yet to be found.Keywords: learning community, self- efficacy, teachers, learning experience
Procedia PDF Downloads 4913167 An Implementation of Fuzzy Logic Technique for Prediction of the Power Transformer Faults
Authors: Omar M. Elmabrouk., Roaa Y. Taha., Najat M. Ebrahim, Sabbreen A. Mohammed
Abstract:
Power transformers are the most crucial part of power electrical system, distribution and transmission grid. This part is maintained using predictive or condition-based maintenance approach. The diagnosis of power transformer condition is performed based on Dissolved Gas Analysis (DGA). There are five main methods utilized for analyzing these gases. These methods are International Electrotechnical Commission (IEC) gas ratio, Key Gas, Roger gas ratio, Doernenburg, and Duval Triangle. Moreover, due to the importance of the transformers, there is a need for an accurate technique to diagnose and hence predict the transformer condition. The main objective of this technique is to avoid the transformer faults and hence to maintain the power electrical system, distribution and transmission grid. In this paper, the DGA was utilized based on the data collected from the transformer records available in the General Electricity Company of Libya (GECOL) which is located in Benghazi-Libya. The Fuzzy Logic (FL) technique was implemented as a diagnostic approach based on IEC gas ratio method. The FL technique gave better results and approved to be used as an accurate prediction technique for power transformer faults. Also, this technique is approved to be a quite interesting for the readers and the concern researchers in the area of FL mathematics and power transformer.Keywords: dissolved gas-in-oil analysis, fuzzy logic, power transformer, prediction
Procedia PDF Downloads 1443166 A Conceptual Framework of Scheduled Waste Management in Highway Industry
Authors: Nurul Nadhirah Anuar, Muhammad Fauzi Abdul Ghani
Abstract:
Scheduled waste management is very important in environmental and health aspects. Despite it is very important, the research study on schedule waste management is very little in the highway industry even though there is a rapid growth of highway operation in the Asian region. It should be noted that there are many unnoticeable wastes in highway industry that should be managed properly. This paper aims to define the scheduled waste, to provide a conceptual framework of the scheduled waste management in highway industry, to highlight the effect of improper management of scheduled waste and to encourage future researchers to identify and share the present practice of scheduled management in their country. The understanding on effective management of scheduled waste will help the operators of highway industry, the academicians, future researchers, and encourage a friendly environment around the world. The study on scheduled waste management in highway industry is very crucial as compared to factories in which the factories are located on specified areas whereas, highway transverse and run along kilometers crossing the various type of environment, residential and schools. Using Environmental Quality (Scheduled Waste) Regulations, 2005 as a guide, this conceptual paper highlight several scheduled wastes produced by highway industry in Malaysia and provide a conceptual framework of scheduled waste management that focused on the highway industry. Understanding on schedule waste management is vital in order to preserve the environment. Besides that, the waste substances are hazardous to human being. Many diseases have been associated with the improper management of scheduled waste such as cancer, throat irritation and respiration problem.Keywords: Asia region, environment, highway industry, scheduled waste
Procedia PDF Downloads 4223165 Cataphora in English and Chinese Conversation: A Corpus-based Contrastive Study
Authors: Jun Gao
Abstract:
This paper combines the corpus-based and contrastive approaches, seeking to provide a systematic account of cataphora in English and Chinese natural conversations. Based on spoken corpus data, the first part of the paper examines a range of characteristics of cataphora in the two languages, including frequency of occurrence, patterns, and syntactic features. On the basis of this exploration, cataphora in the two languages are contrasted in a structured way. The analysis shows that English and Chinese share a similar distribution of cataphora in natural conversations in terms of frequency of occurrence, with repeat identification cataphora higher than first mention cataphora and intra-sentential cataphora much higher than inter-sentential cataphora. In terms of patterns, three types are identified in English, i.e. P+N, Ø+N, and it+Clause, while in Chinese, two types are identified, i.e., P+N and Ø+N. English and Chinese are similar in terms of syntactic features, i.e., cataphor and postcedent in the intra-sentential cataphora mainly occur in the initial subject position of the same clause, with postcedent immediately followed or delayed, and cataphor and postcedent are mostly in adjacent sentences in inter-sentential cataphora. In the second part of the paper, the motivations of cataphora are investigated. It is found that cataphora is primarily motivated by the speaker and hearer’s different knowledge states with regard to the referent. Other factors are also involved, such as interference, word search, and the tension between the principles of Economy and Clarity.Keywords: cataphora, contrastive study, motivation, pattern, syntactic features
Procedia PDF Downloads 813164 Disaster and Crisis Management Using Geographical Information System (GIS) during the Operation and Maintenance Stages of the Hyderabad Metro Rail in India
Authors: Sai Rajeev Reddy, Ishita Roy, M. Anji Reddy
Abstract:
The paper describes the importance of preventive measures and immediate Emergency logistics during accidents and unfortunate Disasters for the Hyderabad Metro Rails in their various stages of construction. This is the need of the modern generation where accidents, explosions, attacks and sudden crisis are frequent casualties which take huge tolls of life in the present world. The paper utilizes the workflow and application of Geographical information System (GIS) to provide information about problems and crisis structures for efficient Metro Transportation in the city. The study analyzes the difficulties and problems which cause accidents during operation and maintenance stages of the Metro Rail. The paper focuses upon the intermediate and firsthand information of Crisis with the help of GIS technology to share Disaster data for effective measures by the Cyber Police stations, Emergency Responders, Hospitals and First Aid Centre to act immediately and save lives. The results and conclusions have nevertheless proved very informative and useful for the safety board authorities of the Hyderabad Metro Rail. The operation and Maintenance are integral stages in the development of any Multipurpose transportation Projects and are usually prone to various Disasters and tragedies. Hence, the GIS technologies help in distribution of information among the masses with the web Technologies and advanced software developed to prevent and manage crisis widely and in a cost-benefits manner.Keywords: Geographical Information System, emergency assessment, accident zones, surveillance
Procedia PDF Downloads 5673163 Charting Sentiments with Naive Bayes and Logistic Regression
Authors: Jummalla Aashrith, N. L. Shiva Sai, K. Bhavya Sri
Abstract:
The swift progress of web technology has not only amassed a vast reservoir of internet data but also triggered a substantial surge in data generation. The internet has metamorphosed into one of the dynamic hubs for online education, idea dissemination, as well as opinion-sharing. Notably, the widely utilized social networking platform Twitter is experiencing considerable expansion, providing users with the ability to share viewpoints, participate in discussions spanning diverse communities, and broadcast messages on a global scale. The upswing in online engagement has sparked a significant curiosity in subjective analysis, particularly when it comes to Twitter data. This research is committed to delving into sentiment analysis, focusing specifically on the realm of Twitter. It aims to offer valuable insights into deciphering information within tweets, where opinions manifest in a highly unstructured and diverse manner, spanning a spectrum from positivity to negativity, occasionally punctuated by neutrality expressions. Within this document, we offer a comprehensive exploration and comparative assessment of modern approaches to opinion mining. Employing a range of machine learning algorithms such as Naive Bayes and Logistic Regression, our investigation plunges into the domain of Twitter data streams. We delve into overarching challenges and applications inherent in the realm of subjectivity analysis over Twitter.Keywords: machine learning, sentiment analysis, visualisation, python
Procedia PDF Downloads 563162 Polyvinyl Alcohol Incorporated with Hibiscus Extract Microcapsules as Combined Active and Intelligent Composite Film for Meat Preservation
Authors: Ahmed F. Ghanem, Marwa I. Wahba, Asmaa N. El-Dein, Mohamed A. EL-Raey, Ghada E.A. Awad
Abstract:
Numerous attempts are being performed in order to formulate suitable packaging materials for meat products. However, to the best of our knowledge, the incorporation of free hibiscus extract or its microcapsules in the pure polyvinyl alcohol (PVA) matrix as packaging materials for meats is seldom reported. Therefore, this study aims at protection of the aqueous crude extract of hibiscus flowers utilizing spry drying encapsulation technique. Fourier transform infrared (FTIR), scanning electron microscope (SEM), and zetasizer results confirmed the successful formation of assembled capsules via strong interactions, spherical rough microparticles, and ~ 235 nm of particle size, respectively. Also, the obtained microcapsules enjoy high thermal stability, unlike the free extract. Then, the obtained spray-dried particles were incorporated into the casting solution of the pure PVA film with a concentration 10 wt. %. The segregated free-standing composite films were investigated, compared to the neat matrix, with several characterization techniques such as FTIR, SEM, thermal gravimetric analysis (TGA), mechanical tester, contact angle, water vapor permeability, and oxygen transmission. The results demonstrated variations in the physicochemical properties of the PVA film after the inclusion of the free and the extract microcapsules. Moreover, biological studies emphasized the biocidal potential of the hybrid films against microorganisms contaminating the meat. Specifically, the microcapsules imparted not only antimicrobial but also antioxidant activities to PVA. Application of the prepared films on the real meat samples displayed low bacterial growth with a slight increase in the pH over the storage time up to 10 days at 4 oC which further proved the meat safety. Moreover, the colors of the films did not significantly changed except after 21 days indicating the spoilage of the meat samples. No doubt, the dual-functional of prepared composite films pave the way towards combined active/smart food packaging applications. This would play a vital role in the food hygiene, including also quality control and assurance.Keywords: PVA, hibiscus, extraction, encapsulation, active packaging, smart and intelligent packaging, meat spoilage
Procedia PDF Downloads 823161 Budget and the Performance of Public Enterprises: A Study of Selected Public Enterprises in Nasarawa State Nigeria (2009-2013)
Authors: Dalhatu, Musa Yusha’u, Shuaibu Sidi Safiyanu, Haliru Musa Hussaini
Abstract:
This study examined budget and performance of public enterprises in Nasarawa State, Nigeria in a period of 2009-2013. The study utilized secondary sources of data obtained from four selected parastatals’ budget allocation and revenue generation for the period under review. The simple correlation coefficient was used to analyze the extent of the relationship between budget allocation and revenue generation of the parastatals. Findings revealed varying results. There was positive (0.21) and weak correlation between expenditure and revenue of Nasarawa Investment and Property Development Company (NIPDC). However, the study further revealed that there was strong and weak negative relationship in the revenue and expenditure of the following parastatals over the period under review. Viz: Nasarawa State Water Board, -0.27 (weak), Nasarawa State Broadcasting Service, -0.52 (Strong) and Nasarawa State College of Agriculture, -0.36 (weak). The study therefore, recommends that government should increase its investments in NIPDC to enhance efficiency and profitability. It also recommends that government should strengthen its fiscal responsibility, accountability and transparency in public parastatals.Keywords: budget, public enterprises, revenue, enterprise
Procedia PDF Downloads 2603160 A Relational View for Financial Metrics in Logistics Service Providers
Authors: Paulo Sergio Altman Ferreira
Abstract:
Relationship development plays an essential role in every logistics company. Logistics companies are service-based businesses essentially performing the flow of materials, housing, and inventory management for a wide range of customers. The service encounter between the logistics provider’s personnel and the customers may form a connection that will demonstrate a strong impact, not only to the customers' overall satisfaction but may also provide the perception of individualized services. Logistics services must drive value. It also shows a close influence on the quality and costs of client-centered services. If we describe logistics value creation as the function of quality perception of the client divided by service costs, there is a requirement to better outline and explain the measures and analytics for logistics costs and relationship performance. This critical shift to understand logistics services is a relevant contribution to capture how relationship value can be quantified. This might involve changing our current perspective on logistics providers beyond uniquely measuring the services in terms of activities, personnel levels, and financial/costs ratios. This paper argues that measuring value creation accomplishments of logistics services needs to consider the relational improvements for the wider range of logistics companies. Accurate logistics value requires a description of the financial impact of the relational perspective of the service.Keywords: logistics services providers, financial metrics, relationship management, value creation
Procedia PDF Downloads 1503159 Strategy of Inventory Analysis with Economic Order Quantity and Quick Response: Case on Filter Inventory for Heavy Equipment in Indonesia
Authors: Lim Sanny, Felix Christian
Abstract:
The use of heavy equipment in Indonesia is always increasing. Cost reduction in procurement of spare parts is the aim of the company. The spare parts in this research are focused in the kind of filters. On the early step, the choosing of priority filter will be studied further by using the ABC analysis. To find out future demand of the filter, this research is using demand forecast by utilizing the QM software for windows. And to find out the best method of inventory control for each kind of filter is by comparing the total cost of Economic Order Quantity and Quick response inventory method. For the three kind of filters which are Cartridge, Engine oil – pn : 600-211-123, Element, Transmission – pn : 424-16-11140, and Element, Hydraulic – pn : 07063-01054, the best forecasting method is Linear regression. The best method for inventory control of Cartridge, Engine oil – pn : 600-211-123 and Element, Transmission – pn : 424-16-11140, is Quick Response Inventory, while the best method for Element, Hydraulic – pn : 07063-01054 is Economic Order Quantity.Keywords: strategy, inventory, ABC analysis, forecasting, economic order quantity, quick response inventory
Procedia PDF Downloads 3643158 Research on the Strategy of Orbital Avoidance for Optical Remote Sensing Satellite
Authors: Zheng DianXun, Cheng Bo, Lin Hetong
Abstract:
This paper focuses on the orbit avoidance strategies of optical remote sensing satellite. The optical remote sensing satellite, moving along the Sun-synchronous orbit, is equipped with laser warning equipment to alert CCD camera from laser attacks. There are three ways to protect the CCD camera: closing the camera cover, satellite attitude maneuver and satellite orbit avoidance. In order to enhance the safety of optical remote sensing satellite in orbit, this paper explores the strategy of satellite avoidance. The avoidance strategy is expressed as the evasion of pre-determined target points in the orbital coordinates of virtual satellite. The so-called virtual satellite is a passive vehicle which superposes the satellite at the initial stage of avoidance. The target points share the consistent cycle time and the same semi-major axis with the virtual satellite, which ensures the properties of the satellite’s Sun-synchronous orbit remain unchanged. Moreover, to further strengthen the avoidance capability of satellite, it can perform multi-target-points avoid maneuvers. On occasions of fulfilling the satellite orbit tasks, the orbit can be restored back to virtual satellite through orbit maneuvers. Thereinto, the avoid maneuvers adopts pulse guidance. And the fuel consumption is also optimized. The avoidance strategy discussed in this article is applicable to optical remote sensing satellite when it is encountered with hostile attack of space-based laser anti-satellite.Keywords: optical remote sensing satellite, satellite avoidance, virtual satellite, avoid target-point, avoid maneuver
Procedia PDF Downloads 4043157 Mechanical Properties and Chloride Diffusion of Ceramic Waste Aggregate Mortar Containing Ground Granulated Blast-Furnace Slag
Authors: H. Higashiyama, M. Sappakittipakorn, M. Mizukoshi, O. Takahashi
Abstract:
Ceramic waste aggregates (CWAs) were made from electric porcelain insulator wastes supplied from an electric power company, which were crushed and ground to fine aggregate sizes. In this study, to develop the CWA mortar as an eco–efficient, ground granulated blast–furnace slag (GGBS) as a supplementary cementitious material (SCM) was incorporated. The water–to–binder ratio (W/B) of the CWA mortars was varied at 0.4, 0.5, and 0.6. The cement of the CWA mortar was replaced by GGBS at 20 and 40% by volume (at about 18 and 37% by weight). Mechanical properties of compressive and splitting tensile strengths, and elastic modulus were evaluated at the age of 7, 28, and 91 days. Moreover, the chloride ingress test was carried out on the CWA mortars in a 5.0% NaCl solution for 48 weeks. The chloride diffusion was assessed by using an electron probe microanalysis (EPMA). To consider the relation of the apparent chloride diffusion coefficient and the pore size, the pore size distribution test was also performed using a mercury intrusion porosimetry at the same time with the EPMA. The compressive strength of the CWA mortars with the GGBS was higher than that without the GGBS at the age of 28 and 91 days. The resistance to the chloride ingress of the CWA mortar was effective in proportion to the GGBS replacement level.Keywords: ceramic waste aggregate, chloride diffusion, GGBS, pore size distribution
Procedia PDF Downloads 3443156 Adaptation of Extra Early Maize 'Zea Mays L.' Varieties for Climate Change Mitigation in South Western Nigeria
Authors: Akinwumi Omotayo, Badu-B Apraku, Joseph Olobasola, Petra Abdul Saghir, Yinka Sobowale
Abstract:
In southwestern Nigeria, climate change has led to loss of at least two months of rainfall. Consequently, only one cycle of maize can now be grown because of the shorter duration of rainy season as against two cycles in the past. The Early and Extra-early maturing varieties of maize were originally developed for the semi-arid and arid zones of West and Central Africa where there are seasonal challenges of water threatening optimum performance of the traditional maize grown, which are commonly late in maturity (115 to 120 days). The early varieties of maize mature in 90 to 95 days; while the Extra-Early maize varieties reach physiological maturity in less than 90 days. It was broadly hypothesized that the extra early varieties of maize could mitigate the effects of climate change in southwestern Nigeria with higher levels of rainfall by reinstating the original two cycles of rain-fed maize crop. Trials were therefore carried out in southwestern Nigeria on the possibility of adapting the extra early maize to mitigate the effects of climate change. The trial was the Mother/Baby design. The mother trial involves the evaluation of extra-early varieties following ideal recommendations and closely supervised centrally at the University research farm and the Agricultural Development Programmes (ADPs). This requires farmers to observe and evaluate the technology and the management regime meant to precede the second stage of evaluation at several satellite farmers field managed by selected farmers. The Baby Trial is expected to provide a realistic assessment of the technology by farmers in their own environment. A stratified selection of thirty farmers for the Baby Trial ensured appropriate representation across the different categories of the farming population by age and gender. Data from the trials indicate that extra early maize can be grown in two cycles rain fed in south west Nigeria and a third and fourth cycle could be obtained with irrigation. However the long duration varieties outyielded the extra early maize in both the mother and baby trials. When harvested green, the extra early maize served as source of food between March and May when there was scarcity of food. This represents a major advantage. The study recommends that further work needs to be done to improve the yield of extra early maize to encourage farmers to adopt.Keywords: adaptation, climate change, extra early, maize varieties, mitigation
Procedia PDF Downloads 2003155 Effect of Management Compensation and Auditor Reputation on Tax Management in the Listed Banking Companies in Indonesia
Authors: Fahreza, Yudhi Herliansyah, Harnovinsah
Abstract:
This study aims to examine how management compensation and auditor reputation effect on corporate tax management in banking using a sample banking companies listed in Indonesia Stock Exchange. At first, this study examines how the influence of management compensation on the implementation of tax management that may be made by management in order to improve the performance of the company. Second, this study also examines the effect of auditor reputation conducting audit on the implementation of the tax management. The population used in this study is the banking companies listed in Indonesia Stock Exchange. The method used was purposive sampling because the samples of this study have certain criteria that are tailored to the purpose of the study. Based on purposive sampling method, the number of samples in this study is 28 samples. Hypothesis tested using multiple regression analysis. The results of this study indicate that on the 5 % significance level, management compensation significantly influenced tax management as measured using the proxy book tax gap. Other result is management compensation does not significantly affect the tax management that measured using a proxy GAAP effective tax rate. In addition the auditor's reputation does significantly influence tax management as measured using the proxy book tax gap and GAAP effective tax rate.Keywords: tax management, management compensation, auditor reputation, corporate characteristic
Procedia PDF Downloads 3003154 Firm Performance and Stock Price in Nigeria
Authors: Tijjani Bashir Musa
Abstract:
The recent global crisis which suddenly results to Nigerian stock market crash revealed some peculiarities of Nigerian firms. Some firms in Nigeria are performing but their stock prices are not increasing while some firms are at the brink of collapse but their stock prices are increasing. Thus, this study examines the relationship between firm performance and stock price in Nigeria. The study covered the period of 2005 to 2009. This period is the period of stock boom and also marked the period of stock market crash as a result of global financial meltdown. The study is a panel study. A total of 140 firms were sampled from 216 firms listed on the Nigerian Stock Exchange (NSE). Data were collected from secondary source. These data were divided into four strata comprising the most performing stock, the least performing stock, most performing firms and the least performing firms. Each stratum contains 35 firms with characteristic of most performing stock, most performing firms, least performing stock and least performing firms. Multiple linear regression models were used to analyse the data while statistical/econometrics package of Stata 11.0 version was used to run the data. The study found that, relationship exists between selected firm performance parameters (operating efficiency, firm profit, earning per share and working capital) and stock price. As such firm performance gave sufficient information or has predictive power on stock prices movements in Nigeria for all the years under study.. The study recommends among others that Managers of firms in Nigeria should formulate policies and exert effort geared towards improving firm performance that will enhance stock prices movements.Keywords: firm, Nigeria, performance, stock price
Procedia PDF Downloads 4773153 IPO Valuation and Profitability Expectations: Evidence from the Italian Exchange
Authors: Matteo Bonaventura, Giancarlo Giudici
Abstract:
This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.Keywords: initial public offerings, DCF, book building, post-IPO profitability drop
Procedia PDF Downloads 3523152 Effect of Lifestyle Modification for Two Years on Obesity and Metabolic Syndrome Components in Elementary Students: A Community-Based Trial
Authors: Bita Rabbani, Hossein Chiti, Faranak Sharifi, Saeedeh Mazloomzadeh
Abstract:
Background: Lifestyle modifications, especially improving nutritional patterns and increasing physical activity, are the most important factors in preventing obesity and metabolic syndrome in children and adolescents. For this purpose, the following interventional study was designed to investigate the effects of educational programs for students, as well as changes in diet and physical activity, on obesity and components of the metabolic syndrome. Methods: This study is part of an interventional research project (elementary school) conducted on all students of Sama schools in Zanjan and Abhar in three levels of elementary, middle, and high school, including 1000 individuals in Zanjan (intervention group) and 1000 individuals (control group) in Abhar in 2011. Interventions were based on educating students, teachers, and parents, changes in food services, and physical activity. We primarily measured anthropometric indices, fasting blood sugar, lipid profiles, and blood pressure and completed standard nutrition and physical activity questionnaires. Also, blood insulin levels were randomly measured in a number of students. Data analysis was done by SPSS software version 16.0. Results: Overall, 589 individuals (252 male, 337 female) entered the case group, and 803 individuals (344 male, 459 female) entered the control group. After two years of intervention, mean waist circumference (63.8 ± 10.9) and diastolic BP (63.8 ± 10.4) were significantly lower; however, mean systolic BP (10.1.0 ± 12.5), food score (25.0 ± 5.0) and drinking score (12.1 ± 2.3) were higher in the intervention group (p<0.001). Comparing components of metabolic syndrome between the second year and at time of recruitment within the intervention group showed that although number of overweight/obese individuals, individuals with hypertriglyceridemia and high LDL increased, abdominal obesity, high BP, hyperglycemia, and insulin resistance decreased (p<0.001). On the other hand, in the control group, number of individuals with high BP increased significantly. Conclusion: The prevalence of abdominal obesity and hypertension, which are two major components of metabolic syndrome, are much higher in our study than in other regions of country. However, interventions for modification of diet and increase in physical activity are effective in lowering their prevalence.Keywords: metabolic syndrome, obesity, life style, nutrition, hypertension
Procedia PDF Downloads 673151 Antibacterial and Anti-Biofilm Activity of Vaccinium meridionale S. Pomace Extract Against Staphylococcus aureus, Escherichia coli and Salmonella Enterica
Authors: Carlos Y. Soto, Camila A. Lota, G. Astrid Garzón
Abstract:
Bacterial biofilms cause an ongoing problem for food safety. They are formed when microorganisms aggregate to form a community that attaches to solid surfaces. Biofilms increase the resistance of pathogens to cleaning, disinfection and antibacterial products. This resistance gives rise to problems for human health, industry, and agriculture. At present, plant extracts rich in polyphenolics are being investigated as natural alternatives to degrade bacterial biofilms. The pomace of the tropical Berry Vaccinium meridionale S. contains high amounts of phenolic compounds. Therefore, in the current study, the antimicrobial and antibiofilm effects of extracts from the pomace of Vaccinium meridionale S. were tested on three foodborne pathogens: Enterohaemorrhagic Escherichia coli O157:H7 (ATCC®700728TM), Staphylococcus aureus subsp. aureus (ATCC® 6538TM), and Salmonella enterica serovar Enteritidis (ATCC® 13076TM). Microwave-assisted extraction was used to extract polyphenols with aqueous methanol (80% v/v) at a solid to solvent ratio of 1:10 (w/v) for 20 min. The magnetic stirring was set at 400 rpm, and the microwave power was adjusted to 400 W. The antimicrobial effect of the extract was assessed by determining the half maximal inhibitory concentration (IC50) against the three food poisoning pathogens at concentrations ranging from 50 to 2,850 μg gallic acid equivalents (GAE)/mL of the extract. Biofilm inhibition was assessed using a crystal violet assay applying the same range of concentration. Three replications of the experiments were carried out, and all analyses were run in triplicate. IC50 values were determined using the GraphPad Prism8® program. Significant differences (P<0.05) among means were identified using one-factor analysis of variance (ANOVA) and the post-hoc least significant difference (LSD) test using the Statgraphics plus program, version 2.1.There was significant difference among the mean IC50 values for the tested bacteria. The IC50 for S. aureus was 48 ± 9 μg GAE/mL, followed by 123 ± 49 μg GAE/mL for Salmonella and 376 ± 32 μg GAE/mL for E. coli. The percent inhibition of the extract on biofilm formation was significantly higher for S. aureus (85.8 0.3), followed by E. coli (74.5 1.0) and Salmonella (53.6 9.7). These findings suggest that polyphenolic extracts obtained from the pomace of V. meridionale S. might be used as natural antimicrobial and anti-biofilm natural agents, effective against S. aureus, E. coli and Salmonella enterica.Keywords: antibiofilm, antimicrobial, E. coli, S. aureus, salmonella, IC50, pomace, V. meridionale
Procedia PDF Downloads 633150 From Sound to Music: The Trajectory of Musical Semiotics in a Selected Soundscape Environment in South-Western Nigeria
Authors: Olatunbosun Samuel Adekogbe
Abstract:
This paper addresses the question of musical signification, revolving around nature and its natural divides; the paper tends to examine the roles of the dispositional apparatus of listeners to react to sounding environments through music as coordinated sound that focuses on the powerful strain between vibrational occurrences of sound and potentials of being structured. This paper sets out to examine music as a simple conventional design that does not allude to something beyond music and sound as a vehicle to communicate through production, perception, translation, and reaction with regard to melodic and semiotic functions of sounds. This paper adopts the application of questionnaire and evolutionary approach methods to probe musical adaptation, reproduction, and natural selection as the basis for explaining specific human behavioural responses to musical sense-making beyond the above-sketched dichotomies, with a major focus on the transition from acoustic-emotional sensibilities to musical meaning in the selected soundscapes. It was observed that music has emancipated itself from the level of mere acoustic processing of sounds to a functional description in terms of allowing music users to share experiences and interact with the soundscaping environment. The paper, therefore, concludes that the audience as music participants and listeners in the selected soundscapes have been conceived as adaptive devices in the paradigm shift, which can build up new semiotic linkages with the sounding environments in southwestern Nigeria.Keywords: semiotics, sound, music, soundscape, environment
Procedia PDF Downloads 653149 Evidences for Better Recall with Compatible Items in Episodic Memory
Authors: X. Laurent, M. A. Estevez, P. Mari-Beffa
Abstract:
A focus of recent research is to understand the role of our own response goals in the selection of information that will be encoded in episodic memory. For example, if we respond to a target in the presence of distractors, an important aspect under study is whether the distractor and the target share a common response (compatible) or not (incompatible). Some studies have found that compatible objects tend to be groups together and stored in episodic memory, whereas others found that targets in the presence of incompatible distractors are remembered better. Our current research seems to support both views. We used a Tulving-based definition of episodic memory to differentiate memory from episodic and non-episodic traces. In this task, participants first had to classify a blue object as human or animal (target) which appeared in the presence of a green one (distractor) that could belong to the same category of the target (compatible), to the opposite (incompatible) or to an irrelevant one (neutral). Later they had to report the identity (What), location (Where) and time (When) of both target objects (which had been previously responded to) and distractors (which had been ignored). Episodic memory was inferred when the three scene properties (identity, location and time) were correct. The measure of non-episodic memory consisted of those trials in which the identity was correctly remembered, but not the location or time. Our results showed that episodic memory for compatible stimuli is significantly superior to incompatible ones. In sharp contrast, non-episodic measures found superior memory for targets in the presence of incompatible distractors. Our results demonstrate that response compatibility affects the encoding of episodic and non-episodic memory traces in different ways.Keywords: episodic memory, action systems, compatible response, what-where-when task
Procedia PDF Downloads 1763148 A Review of Sustainable Energy-Saving Solutions in Active and Passive Solar Systems of Zero Energy Buildings Based on the Internet of Things
Authors: Hanieh Sadat Jannesari, Hoori Jannesar, Alireza Hajian HosseinAbadi
Abstract:
In general, buildings are responsible for a considerable share of consumed energy and carbon emissions worldwide and play a significant role in formulating sustainable development strategies. Therefore, a lot of effort is put into the design and construction of zero-energy buildings (ZEBs) to help eliminate the problems associated with the reduction of energy resources and environmental degradation. Two strategies are significant in designing ZEBs: minimizing the need for energy utilization in buildings (particularly for cooling and heating) through highly energy-efficient designs and using renewable energies and other technologies to meet the remaining energy needs. This paper reviews the works related to these two strategies concerning sustainable energy-saving solutions using renewable energy technologies and the Internet of Things in ZEBs. Drawing on the theories and recently implemented projects of energy engineers in ZEBs, we have reported the required technologies within the framework of this paper’s objectives. Overall, solutions based on renewable and sustainable technologies such as photovoltaic (PV) modules, thermal collectors, Phase Change Material (PCM) techniques, etc., are used in active and passive systems designed for various applications in such buildings as cooling, heating, lighting, cooking, etc. The results obtained from examining these projects show that it is possible to minimize the amount of energy required to be produced for and consumed by these buildings.Keywords: active and passive renewable energy systems, internet of things, storage, zero energy buildings
Procedia PDF Downloads 293147 Anti-Neuroinflammatory and Anti-Apoptotic Efficacy of Equol, against Lipopolysaccharide Activated Microglia and Its Neurotoxicity
Authors: Lalita Subedi, Jae Kyoung Chae, Yong Un Park, Cho Kyo Hee, Lee Jae Hyuk, Kang Min Cheol, Sun Yeou Kim
Abstract:
Neuroinflammation may mediate the relationship between low levels of estrogens and neurodegenerative disease. Estrogens are neuroprotective and anti-inflammatory in neurodegenerative disease models. Due to the long term side effects of estrogens, researches have been focused on finding an effective phytoestrogens for biological activities. Daidzein present in soybeans and its active metabolite equol (7-hydroxy-3-(4'-hydroxyphenyl)-chroman) bears strong antioxidant and anticancer showed more potent anti-inflammatory and neuroprotective role in neuroinflammatory model confirmed its in vitro activity with molecular mechanism through NF-κB pathway. Three major CNS cells Microglia (BV-2), Astrocyte (C6), Neuron (N2a) were used to find the effect of equol in inducible nitric oxide synthase (iNOS), cyclooxygenase (COX-2), MAPKs signaling proteins, apoptosis related proteins by western blot analysis. Nitric oxide (NO) and prostaglandin E2 (PGE2) was measured by the Gries method and ELISA, respectively. Cytokines like tumor necrosis factor-α (TNF-α) and IL-6 were also measured in the conditioned medium of LPS activated cells with or without equol. Equol inhibited the NO production, PGE-2 production and expression of COX-2 and iNOS in LPS-stimulated microglial cells at a dose dependent without any cellular toxicity. At the same time Equol also showed promising effect in modulation of MAPK’s and nuclear factor kappa B (NF-κB) expression with significant inhibition of the production of proinflammatory cytokine like interleukin -6 (IL-6), and tumor necrosis factor -α (TNF-α). Additionally, it inhibited the LPS activated microglia-induced neuronal cell death by downregulating the apoptotic phenomenon in neuronal cells. Furthermore, equol increases the production of neurotrophins like NGF and increase the neurite outgrowth as well. In conclusion the natural daidzein metabolite equol are more active than daidzein, which showed a promising effectiveness as an anti-neuroinflammatory and neuroprotective agent via downregulating the LPS stimulated microglial activation and neuronal apoptosis. This work was supported by Brain Korea 21 Plus project and High Value-added Food Technology Development Program 114006-4, Ministry of Agriculture, Food and Rural Affairs.Keywords: apoptosis, equol, neuroinflammation, phytoestrogen
Procedia PDF Downloads 3613146 Basics of SCADA Security: A Technical Approach
Authors: Michał Witas
Abstract:
This paper presents a technical approach to analysis of security of SCADA systems. Main goal of the paper is to make SCADA administrators aware of risks resulting from SCADA systems usage and to familiarize with methods that can be adopt to existing or planned system, to increase overall system security level. Because SCADA based systems become a industrial standard, more attention should be paid to the security of that systems. Industrial Control Systems (ICS) like SCADA are responsible for controlling crucial aspects of wide range of industrial processes. In pair with that responsibility, goes a lot of money that can be earned or lost – this fact is main reason of increased interest of attackers. Additionally ICS are often responsible for maintaining resources strategic from the point of view of national economy, like electricity (including nuclear power plants), heating, water resources or military facilities, so they can be targets of terrorist cybernetic attacks. Without proper risk analysis and management, vulnerabilities resulting from the usage of SCADA can be easily exploited by potential attacker. Paper is based mostly on own experience in systems security, gathered during academic studies and professional work in international company. As title suggests, it will cover only basics of topic, because every of points mentioned in the document can be base for additional research and papers.Keywords: denial of service, SCADA, security policy, distributed network
Procedia PDF Downloads 3733145 Corrosive Bacteria Attached to Carbon Steel Used in Oil and Gas Company
Authors: Hadjer Didouh, Mohammed Hadj Melliani, Izzeddine Sameut Bouhaik
Abstract:
Microbiologically influenced corrosion (MIC) is a major cause of pipeline failure in the oil and gas industry, particularly affecting carbon steel, which is widely used for its cost-effectiveness and mechanical properties. This study investigates the adhesion of sulfate-reducing bacteria (SRB) and other corrosive microbial species on API 5L X52 carbon steel in crude oil and injection water environments. Experimental results showed that after 72 hours of exposure, biofilm formed extensively, leading to significant corrosion rates. Weight loss measurements indicated a corrosion rate of 0.39 mm/year, with localized pitting observed at depths reaching 120 μm. Electrochemical impedance spectroscopy (EIS) revealed a drastic decrease in charge transfer resistance, from 1200 Ω/cm² for sterile samples to 240 Ω/cm² in the presence of SRB biofilm. Scanning electron microscopy (SEM) and energy dispersive spectroscopy (EDS) analyses confirmed the presence of iron sulfide deposits, indicating active bacterial colonization and biofilm-induced pitting corrosion. This study highlights the severe impact of MIC on pipeline infrastructure, emphasizing the need for efficient microbial control strategies. Furthermore, the results provide a framework for the development of enhanced protective coatings and environmentally friendly biocides to mitigate the economic and environmental risks associated with MIC in oilfield operations in Algeria.Keywords: MIC, corrosion, bacteria, API 5L X52
Procedia PDF Downloads 323144 Implications of Agricultural Subsidies Since Green Revolution: A Case Study of Indian Punjab
Authors: Kriti Jain, Sucha Singh Gill
Abstract:
Subsidies have been a major part of agricultural policies around the world, and more extensively since the green revolution in developing countries, for the sake of attaining higher agricultural productivity and achieving food security. But entrenched subsidies lead to distorted incentives and promote inefficiencies in the agricultural sector, threatening the viability of these very subsidies and sustainability of the agricultural production systems, posing a threat to the livelihood of farmers and laborers dependent on it. This paper analyzes the economic and ecological sustainability implications of prolonged input and output subsidies in agriculture by studying the case of Indian Punjab, an agriculturally developed state responsible for ensuring food security in the country when it was facing a major food crisis. The paper focuses specifically on the environmentally unsustainable cropping pattern changes as a result of Minimum Support Price (MSP) and assured procurement and on the resource use efficiency and cost implications of power subsidy for irrigation in Punjab. The study is based on an analysis of both secondary and primary data sources. Using secondary data, a time series analysis was done to capture the changes in Punjab’s cropping pattern, water table depth, fertilizer consumption, and electrification of agriculture. This has been done to examine the role of price and output support adopted to encourage the adoption of green revolution technology in changing the cropping structure of the state, resulting in increased input use intensities (especially groundwater and fertilizers), which harms the ecological balance and decreases factor productivity. Evaluation of electrification of Punjab agriculture helped evaluate the trend in electricity productivity of agriculture and how free power imposed further pressure on the extant agricultural ecosystem. Using data collected from a primary survey of 320 farmers in Punjab, the extent of wasteful application of groundwater irrigation, water productivity of output, electricity usage, and cost of irrigation driven electricity subsidy to the exchequer were estimated for the dominant cropping pattern amongst farmers. The main findings of the study revealed how because of a subsidy has driven agricultural framework, Punjab has lost area under agro climatically suitable and staple crops and moved towards a paddy-wheat cropping system, that is gnawing away the state’s natural resources like water table has been declining at a significant rate of 25 cms per year since 1975-76, and excessive and imbalanced fertilizer usage has led to declining soil fertility in the state. With electricity-driven tubewells as the major source of irrigation within a regime of free electricity and water-intensive crop cultivation, there is both wasteful application of irrigation water and electricity in the cultivation of paddy crops, burning an unproductive hole in the exchequer’s pocket. There is limited access to both agricultural extension services and water-conserving technology, along with policy imbalance, keeping farmers in an intensive and unsustainable production system. Punjab agriculture is witnessing diminishing returns to factor, which under the business-as-usual scenario, will soon enter the phase of negative returns to factor.Keywords: cropping pattern, electrification, subsidy, sustainability
Procedia PDF Downloads 1863143 Participatory Approach of Flood Disaster Risk Reduction
Authors: Laxman Budhathoki, Lal Bahadur Shrestha, K. C. Laxman
Abstract:
Hundreds of people are being lost their life by flood disaster in Nepal every year. Community-based disaster management committee has formed to formulate the disaster management plan including the component of EWS like EWS tower, rain gauge station, flood gauge station, culverts, boats, ropes, life jackets, a communication mechanism, emergency shelter, Spur, dykes, dam, evacuation route, emergency dry food management etc. Now EWS become a successful tool to decrease the human casualty from 13 to 0 every year in Rapti River of Chitwan District.Keywords: disaster risk reduction, early warning system, flood, participatory approach
Procedia PDF Downloads 3543142 Effect of Bank Specific and Macro Economic Factors on Credit Risk of Islamic Banks in Pakistan
Authors: Mati Ullah, Shams Ur Rahman
Abstract:
The purpose of this research study is to investigate the effect of macroeconomic and bank-specific factors on credit risk in Islamic banking in Pakistan. The future of financial institutions largely depends on how well they manage risks. Credit risk is an important type of risk affecting the banking sector. The current study has taken quarterly data for the period of 6 years, from 1st July 2014 to 30 Jun 2020. The data set consisted of secondary data. Data was extracted from the websites of the State Bank and World Bank and from the financial statements of the concerned banks. In this study, the Ordinary least square model was used for the analysis of the data. The results supported the hypothesis that macroeconomic factors and bank-specific factors have a significant effect on credit risk. Macroeconomic variables, Inflation and exchange rates have positive significant effects on credit risk. However, gross domestic product has a negative significant relationship with credit risk. Moreover, the corporate rate has no significant relation with credit risk. Internal variables, size, management efficiency, net profit share income and capital adequacy have been proven to influence positively and significantly the credit risk. However, loan to deposit-has a negative insignificance relationship with credit risk. The contribution of this article is that similar conclusions have been made regarding the influence of banking factors on credit risk.Keywords: credit risk, Islamic banks, macroeconomic variables, banks specific variable
Procedia PDF Downloads 173141 Modeling Optimal Lipophilicity and Drug Performance in Ligand-Receptor Interactions: A Machine Learning Approach to Drug Discovery
Authors: Jay Ananth
Abstract:
The drug discovery process currently requires numerous years of clinical testing as well as money just for a single drug to earn FDA approval. For drugs that even make it this far in the process, there is a very slim chance of receiving FDA approval, resulting in detrimental hurdles to drug accessibility. To minimize these inefficiencies, numerous studies have implemented computational methods, although few computational investigations have focused on a crucial feature of drugs: lipophilicity. Lipophilicity is a physical attribute of a compound that measures its solubility in lipids and is a determinant of drug efficacy. This project leverages Artificial Intelligence to predict the impact of a drug’s lipophilicity on its performance by accounting for factors such as binding affinity and toxicity. The model predicted lipophilicity and binding affinity in the validation set with very high R² scores of 0.921 and 0.788, respectively, while also being applicable to a variety of target receptors. The results expressed a strong positive correlation between lipophilicity and both binding affinity and toxicity. The model helps in both drug development and discovery, providing every pharmaceutical company with recommended lipophilicity levels for drug candidates as well as a rapid assessment of early-stage drugs prior to any testing, eliminating significant amounts of time and resources currently restricting drug accessibility.Keywords: drug discovery, lipophilicity, ligand-receptor interactions, machine learning, drug development
Procedia PDF Downloads 111