Search results for: benifit cost ratio

Authors: Nouha Ben Salah, Mohamed Ali Omri

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This paper treats the association between disclosure level and the cost of equity capital in Tunisian’slisted firms. This relation is tested by using two models. The first is used for testing this relation directly by regressing firm specific estimates of cost of equity capital on market beta, firm size and a measure of disclosure level. The second model is used for testing this relation by introducing information asymmetry as mediator variable. This model is suggested by Baron and Kenny (1986) to demonstrate the role of mediator variable in general. Based on a sample of 21 non-financial Tunisian’s listed firms over a period from 2000 to 2004, the results prove that greater disclosure is associated with a lower cost of equity capital. However, the results of indirect relationship indicate a significant positive association between the level of voluntary disclosure and information asymmetry and a significant negative association between information asymmetry and cost of equity capital in contradiction with our previsions. Perhaps this result is due to the biases of measure of information asymmetry.

Keywords: cost of equity capital, voluntary disclosure, information asymmetry, and Tunisian’s listed non-financial firms

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Authors: Gyati Shilakari Asthana, Abhay Asthana, Dharm Veer Kohli, Suresh Prasad Vyas

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Purpose: The therapeutic potential of oligonucleotide (ODN) is primarily dependent upon its safe and efficient delivery to specific cells overcoming degradation and maximizing cellular uptake in vivo. The present study is focused to design low molecular weight chitosan nanoconstructs to meet the requirements of safe and effectual delivery of ODNs. LMW-chitosan is a biodegradable, water soluble, biocompatible polymer and is useful as a non-viral vector for gene delivery due to its better stability in water. Methods: LMW chitosan ODN nanoparticles (CHODN NPs) were formulated by self-assembled method using various N/P ratios (moles ratio of amine groups of CH to phosphate moieties of ODNs; 0.5:1, 1:1, 3:1, 5:1, and 7:1) of CH to ODN. The developed CHODN NPs were evaluated with respect to gel retardation assay, particle size, zeta potential and cytotoxicity and transfection efficiency. Results: Complete complexation of CH/ODN was achieved at the charge ratio of 0.5:1 or above and CHODN NPs displayed resistance against DNase I. On increasing the N/P ratio of CH/ODN, the particle size of the NPs decreased whereas zeta potential (ZV) value increased. No significant toxicity was observed at all CH concentrations. The transfection efficiency was increased on increasing N/P ratio from 1:1 to 3:1, whereas it was decreased with further increment in N/P ratio upto 7:1. Maximum transfection of CHODN NPs with both the cell lines (Raw 267.4 cells and Hela cells) was achieved at N/P ratio of 3:1. The results suggest that transfection efficiency of CHODN NPs is dependent on N/P ratio. Conclusion: Thus the present study states that LMW chitosan nanoparticulate carriers would be acceptable choice to improve transfection efficiency in vitro as well as in vivo delivery of oligonucleotide.

Keywords: LMW-chitosan, chitosan nanoparticles, biocompatibility, cytotoxicity study, transfection efficiency, oligonucleotide

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Authors: Rajiv Arora

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Biodiesel may be economical if produced from inexpensive feedstock which commonly contains high level of free fatty acids (FFA) as an inhibitor in production of methyl ester. In this study, a two-step process for biodiesel production from high FFA spent bleach earth oil in a batch reactor is developed. Oil sample extracted from spent bleaching earth (SBE) was utilized for biodiesel process. In the first step, FFA of the SBE oil was reduced to 1.91% through sulfuric acid catalyzed esterification. In the second step, the product prepared from the first esterification process was carried out transesterification with an alkaline catalyst. The influence of four variables on conversion efficiency to methyl ester, i.e., methanol/ SBE oil molar ratio, catalyst amount, reaction temperature and reaction time, was studied in the second stage. The optimum process variables in the transesterification were methanol/oil molar ratio 6:1, heterogeneous catalyst conc. 5 wt %, reaction temperature 65 °C and reaction time 60 minutes to produce biodiesel. Major fuel properties of SBE biodiesel were measured to comply with ASTM and EN standards. Therefore, an optimized process for production of biodiesel from a low-cost high FFA source was accomplished.

Keywords: biodiesel, esterification, free fatty acids, residual oil, spent bleaching earth, transesterification

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Authors: Yu Zhang, Kohei Inoue, Kiichi Urahama

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We propose a simplified bilateral filter with binarized coefficients for accelerating it. Its computational cost is further decreased by sampling pixels. This computationally low cost filter is useful for smoothing or denoising images by using mobile devices with limited computational power.

Keywords: bilateral filter, binarized-weight bilateral filter, image smoothing, image denoising, pixel sampling

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Authors: Zahid Ahmad, Samia Yousaf

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The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth.

Keywords: capital structure, dividend policy, panel data, sustainability

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

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

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

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Authors: Y. Galerkin, E. Popova, K. Soldatova

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There is an evident trend to elevate pressure ratio of a single stage of a turbo compressors - axial compressors in particular. Whilst there was an opinion recently that a pressure ratio 1,9 was a reasonable limit, later appeared information on successful modeling tested of stages with pressure ratio up to 2,8. The Authors recon that lack of information on high pressure stages makes actual a study of rational choice of design parameters before high supersonic flow problems solving. The computer program of an engineering type was developed. Below is presented a sample of its application to study possible parameters of the impeller of the stage with pressure ratio π*=3,0. Influence of two main design parameters on expected efficiency, periphery blade speed and flow structure is demonstrated. The results had lead to choose a variant for further analysis and improvement by CFD methods.

Keywords: supersonic stage, impeller, efficiency, flow rate coefficient, work coefficient, loss coefficient, oblique shock, direct shock

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Authors: Hwei Voon Lee, N. Asikin-Mijana, Y. H. Taufiq-Yap, J. C. Juan, N. A. Rahman

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Cracking–Deoxygenation process is one of the important reaction pathways for the production of bio-fuel with desirable n-C17 hydrocarbon chain via removal of oxygen compounds. Calcium-based catalyst has attracted much attention in deoxygenation process due to its relatively high capacity in removing oxygenated compounds in the form of CO₂ and CO under decarboxylation and decarbonylation reaction, respectively. In the present study, deoxygenation of triolein was investigated using Ca(OH)₂ nanocatalyst derived from low cost natural waste shells. The Ca(OH)₂ nanocatalyst was prepared via integration techniques between surfactant treatment (anionic and non-ionic) and wet sonochemical effect. Results showed that sonochemically assisted surfactant treatment has successfully enhanced the physicochemical properties of Ca(OH)₂ nanocatalyst in terms of nanoparticle sizes (∼50 nm), high surface area(∼130 m²g⁻¹), large porosity (∼18.6 nm) and strong basic strength. The presence of superior properties from surfactant treated Ca(OH)₂ nanocatalysts rendered high deoxygenation degree, which is capable of producing high alkane and alkene selectivity in chain length of n-C17(high value of C17/(n-C17+ n-C18)ratio = 0.88). Furthermore, both Ca(OH)₂–EG and Ca(OH)₂–CTAB nanocatalysts showed high reactivity with 47.37% and 44.50%, respectively in total liquid hydrocarbon content of triolein conversion with high H/C and low O/C ratio.

Keywords: clamshell, cracking, decarboxylation-decarbonylation, hydrocarbon

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Authors: Nkutere Chikezie Kanu, Nnamdi M. Anigbogu, Johnson C. Ezike

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The study was carried out to investigate the performance of Red Sokoto goats fed Municipal Oranic Wastes (MOW) subjected to two methods of in vivo degradation by Torula Yeast and Zymomonas mobilis. Two combination, Torula Yeast + Zymomonas mobilis (main degradation), and Zymomonas mobilis + Torula Yeast (Reciprocal degradation) were used to degrade MOW. Eighteen Red Sokoto goats of both sexes (9 males and 9 females) of ages between 6-8 were used for the study. The goats were randomly assigned into 3 treatments groups A, B and C respectively with 6 goats per treatment. The experiment was laid in a Completely Randomized Design and replicated 3 times. Treatment A groups were fed 30% Undegraded MOW base diet +concentrate mixture, Treatment B groups were fed 30% Main degraded MOW base diet +concentrate mixture, Treatment C groups were fed 30% Reciprocal degraded MOW base diet +concentrate mixture. The result of the daily weight gain was significantly (P<0.05) better than on the other Treatments. There was significant improvement (P<0.05) on the daily feed consumption in Treatment B than on the Treatments A and C. The feed conversion ratio revealed no significant (P>0.05) differences among the treatment groups but much better in the treatment B and C, the cost of feed consumed was much higher (P>0.05) in Treatment B followed by Treatment C, while Treatment A had the lowest. The cost/ kg weight gain that was recorded in Treatment A was better (P<0.05) than the Treatment B, followed by Treatment C, while the cost of production was high (P<0.05) in Treatment B than in other treatments. The gross profit was observed best (P<0.05) on the Treatment B, followed by Treatment C while Treatment A had the lowest. The net profit as noted in this study was much better (P<0.05) in Treatment B, and Treatment C, while the least was observed in Treatment A, where the return on investment was high in Treatments B and C, while Treatment A had the lowest.

Keywords: reciprocal, torula yeast, Zymomonas mobilis, organic waste

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Authors: Qiuxiao Chen, Yan Hou, Ning Wu

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As there are deficiencies of the classic Douglas-Peucker Algorithm (DPA), such as high risks of deleting key nodes by mistake, high complexity, time consumption and relatively slow execution speed, a new Deletion-Cost Based Compression Algorithm (DCA) for linear vector data was proposed. For each curve — the basic element of linear vector data, all the deletion costs of its middle nodes were calculated, and the minimum deletion cost was compared with the pre-defined threshold. If the former was greater than or equal to the latter, all remaining nodes were reserved and the curve’s compression process was finished. Otherwise, the node with the minimal deletion cost was deleted, its two neighbors' deletion costs were updated, and the same loop on the compressed curve was repeated till the termination. By several comparative experiments using different types of linear vector data, the comparison between DPA and DCA was performed from the aspects of compression quality and computing efficiency. Experiment results showed that DCA outperformed DPA in compression accuracy and execution efficiency as well.

Keywords: Douglas-Peucker algorithm, linear vector data, compression, deletion cost

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Authors: Sang Wook Park, Se Woon Choi, Yousok Kim, Byung Kwan Oh, Hyo Seon Park

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Various retrofit techniques for reinforced concrete frame with infill wall have been steadily developed. Among those techniques, strengthening methodology based on diagonal FRP strips (FRP bracings) has numerous advantages such as feasibility of implementing without interrupting the building under operation, reduction of cost and time, and easy application. Considering the safety of structure and retrofit cost, the most appropriate retrofit solution is needed. Thus, the objective of this study is to suggest pareto-optimal solution for existing building using FRP bracings. To find pareto-optimal solution analysis, NSGA-II is applied. Moreover, the seismic performance of retrofit building is evaluated. The example building is 5-storey, 3-bay RC frames with infill wall. Nonlinear static pushover analyses are performed with FEMA 356. The criterion of performance evaluation is inter-story drift ratio at the performance level IO, LS, CP. Optimal retrofit solutions is obtained for 32 individuals and 200 generations. Through the proposed optimal solutions, we confirm the improvement of seismic performance of the example building.

Keywords: retrofit, FRP bracings, reinforced concrete frame with infill wall, seismic performance evaluation, NSGA-II

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Authors: Yu-Yao Wang, Xiao-Meng Hu, Joanne Yeung, Xiao-Yan Li

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The high private cost and unquantified external cost limit the development of reclaimed water. In this study, an integrated framework comprising life cycle assessment (LCA), quantitative microbial risk assessment (QMRA), and life cycle costing (LCC) was developed to evaluate both costs of reclaimed water supply in water systems of various scales. LCA assesses the environmental impacts, and QMRA estimates the associated pathogenic impacts. These impacts are monetized as external costs and analyzed with the private cost by LCC to count the total life cycle cost. The framework evaluated the Hong Kong urban water system in the baseline scenario (BS) and five wastewater reuse scenarios (RS). They are RSI: substituting freshwater for toilet flushing only, RSII: substituting both freshwater and seawater for toilet flushing, RSIII: using reclaimed water for all non-potable uses, RSIV: using reclaimed water for all non-potable uses and indirect potable uses, and RSV: non-potable use and indirect potable use by conveying 100% reclaimed water to recharge the reservoirs. The results show that substituting freshwater and seawater for toilet flushing has the least total life cycle cost, exhibiting that it is the most cost-effective option for Hong Kong. Meanwhile, the evaluation results show that the external cost of each scenario is comparable to the corresponding private cost, indicating the importance of the inclusion of comprehensive external cost evaluation in private cost assessment of water systems with reclaimed water supply.

Keywords: life cycle assessment, life cycle costing, quantitative microbial risk assessment, water reclamation, reclaimed water, alternative water resources

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Authors: Lo Kar Yin, Law Ka Mei

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Architectural, engineering, construction and operations (AECO) industry practitioners have been well adapting to the dynamic construction market from the fundamental training of its discipline. As further triggered by the pandemic since 2019, great steps are taken in virtual environment and the best collaboration is strived with project teams without boundaries. With adoption of Building Information Modeling-based approach and qualitative analysis, this paper is to review quantity take-off and cost estimation process through modeling techniques in liaison with suppliers, fabricators, subcontractors, contractors, designers, consultants and services providers in the construction industry value chain for automatic project cost budgeting, project cost control and cost evaluation on design options of in-situ reinforced-concrete construction and Modular Integrated Construction (MiC) at design stage, variation of works and cash flow/spending analysis at construction stage as far as practicable, with a view to sharing the findings for enhancing mutual trust and co-operation among AECO industry practitioners. It is to foster development through a common prototype of design and build project delivery method in NEC Engineering and Construction Contract (ECC) Options A and C.

Keywords: building information modeling, cost estimation, quantity take-off, modeling techniques

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Authors: M. Kakavand, S. A. Naeini

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Dynamic properties of soil in small strains, especially for geotechnical engineers, are important for describing the behavior of soil and estimation of the earth structure deformations and structures, especially significant structures. This paper presents the effect of density on the shear modulus and damping ratio of saturated clean sand at various isotropic confining pressures. For this purpose, the specimens were compared with two different relative densities, loose Dr = 30% and dense Dr = 70%. Dynamic parameters were attained from a series of consolidated undrained fixed – free type torsional resonant column tests in small strain. Sand No. 161 is selected for this paper. The experiments show that by increasing sand density and confining pressure, the shear modulus increases and the damping ratio decreases.

Keywords: dynamic properties, shear modulus, damping ratio, clean sand, density, confining pressure, resonant column/torsional simple shear, TSS

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Authors: Ahmed S. Abdulrasool

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Recently sand wall started to gain more attention as the sand is easy to compact by using vibroflotation technique. An advantage of sand wall is the availability of different additives that can be mixed with sand to increase the stiffness of the sand wall and hence to increase its performance. In this paper, the bearing capacity of circular foundation surrounded by sand wall stabilized with lime is evaluated through laboratory testing. The studied parameters include different sand-lime walls depth (H/D) ratio (wall depth to foundation diameter) ranged between (0.0-3.0). Effect of lime percentages on the bearing capacity of skirted foundation models is investigated too. From the results, significant change is occurred in the behavior of shallow foundations due to confinement of the soil. It has been found that (H/D) ratio of 2 gives substantial improvement in bearing capacity, and beyond (H/D) ratio of 2, there is no significant improvement in bearing capacity. The results show that the optimum lime content is 11%, and the maximum increase in bearing capacity reaches approximately 52% at (H/D) ratio of 2.

Keywords: bearing capacity, circular foundation, clay soil, lime-sand wall

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Authors: Sewon Kim, Minjun Kwon, Changyeop Lee

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This study is aimed to study combustion characteristics of low NOx burner using petroleum cokes as fuel. The petroleum coke, which is produced through the oil refining process, is an attractive fuel in terms of its high heating value and low price. But petroleum coke is a challenging fuel because of its low volatile content, high sulfur and nitrogen content, which give rise to undesirable emission characteristics and low ignitability. Therefore, the research and development regarding the petroleum coke burner is needed for applying this industrial system. In this study, combustion and emission characteristics of petroleum cokes burner are experimentally investigated in an industrial steam boiler. The low NOx burner is designed to control fuel and air mixing to achieve staged combustion, which, in turn reduces both flame temperature and oxygen. Air distribution ratio of triple staged air are optimized experimentally. The result showed that NOx concentration is lowest when overfire air is used, and the burner function at a fuel rich condition. That is, the burner is operated at the equivalence ratio of 1.67 and overall equivalence ratio including overfire air is kept 0.87.

Keywords: petroleum cokes, low NOx, combustion, equivalence ratio

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Authors: S. Aditya, K. T. Nideesh, N. Guruprasad

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Being a subclass of linear programing problem, the Transportation Problem is a classic Operations Research problem where the objective is to determine the schedule for transporting goods from source to destination in a way that minimizes the shipping cost while satisfying supply and demand constraints. In this paper, we are representing the transportation problem for various warehouses along with various dealers situated in Bangalore city to reduce the transportation cost incurred by them as of now. The problem is solved by obtaining the Initial Basic feasible Solution through various methods and further proceeding to obtain optimal cost.

Keywords: NW method, optimum utilization, transportation problem, Vogel’s approximation method

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Authors: Abdulrahman Abdulrahman

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The specific energy equation has many applications in practical channels, such as exponential channels. In this paper, the governing equation of alternate depth ratio for exponential channels, in general, was investigated towards obtaining analytical solution for the alternate depth ratio in three exponential channel shapes, viz., rectangular, triangular, and parabolic channels. The alternate depth ratio for rectangular channels is quadratic; hence it is very simple to solve. While for parabolic and triangular channels, the alternate depth ratio is cubic and quartic equations, respectively, analytical solution for these equations may be achieved easily for a given Froud number. Different examples are solved to prove the efficiency of the proposed solution. Such analytical solution can be easily used in natural rivers and most of practical channels.

Keywords: alternate depth, analytical solution, specific energy, parabolic channel, rectangular channel, triangular channel, open channel flow

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Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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Authors: Yasaman Ashrafi, Stephen Kajewski, Annastiina Silvennoinen, Madhav Nepal

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Mega projects either in construction, urban development or energy sectors are one of the key drivers that build the foundation of wealth and modern civilizations in regions and nations. Such projects require economic justification and substantial capital investment, often derived from individual and corporate investors as well as governments. Cost overruns and time delays in these mega projects demands a new approach to more accurately predict project costs and establish realistic financial plans. The significance of this paper is that the cost efficiency of megaprojects will improve and decrease cost overruns. This research will assist Project Managers (PMs) to make timely and appropriate decisions about both cost and outcomes of ongoing projects. This research, therefore, examines the oil and gas industry where most mega projects apply the classic methods of Cost Performance Index (CPI) and Schedule Performance Index (SPI) and rely on project data to forecast cost and time. Because these projects are always overrun in cost and time even at the early phase of the project, the probabilistic methods of Monte Carlo Simulation (MCS) and Bayesian Adaptive Forecasting method were used to predict project cost at completion of projects. The current theoretical and mathematical models which forecast the total expected cost and project completion date, during the execution phase of an ongoing project will be evaluated. Earned Value Management (EVM) method is unable to predict cost at completion of a project accurately due to the lack of enough detailed project information especially in the early phase of the project. During the project execution phase, the Bayesian adaptive forecasting method incorporates predictions into the actual performance data from earned value management and revises pre-project cost estimates, making full use of the available information. The outcome of this research is to improve the accuracy of both cost prediction and final duration. This research will provide a warning method to identify when current project performance deviates from planned performance and crates an unacceptable gap between preliminary planning and actual performance. This warning method will support project managers to take corrective actions on time.

Keywords: cost forecasting, earned value management, project control, project management, risk analysis, simulation

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Authors: Tzu-Ching Weng, Hsin-Yi Chi

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This study examines the effect of family succession on the cost of bank loans and non-price contractual terms. We use a unique dataset from China and find that lending banks are likely to charge high-interest rates and offer tight contractual terms, such as loan maturity and collateral requirement, for family succession firms. These findings indicate that information and default risks may arise after subsequent family successions. We also find that family succession firms can reduce the cost of bank loans by hiring top-tier auditors to enhance financial reporting credibility. This finding suggests that professional and high-quality auditors can provide extremely valuable services to family succession firms.

Keywords: family succession, cost of bank loans, loan contract terms, top-tier auditor

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Authors: I. Sani, A. Abdulhamid, F. Bello, Isah M. Fakai

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This research has focused on the application of green fluorescent protein (GFP) as a new technique for direct monitoring of fermentation processes involving cultured bacteria. To use GFP as a sensor for pH and oxygen, percentage ratio of red fluorescence to green (% R/G) was evaluated. Assessing the magnitude of the % R/G ratio in relation to low or high pH and oxygen concentration, the bacterial strains were cultivated under aerobic and anaerobic conditions. SCC1 strains of E. coli were grown in a 5 L laboratory fermenter, and during the fermentation, the pH and temperature were controlled at 7.0 and 370C respectively. Dissolved oxygen tension (DOT) was controlled between 15-100% by changing the agitation speed between 20-500 rpm respectively. Effect of reducing the DOT level from 100% to 15% was observed after 4.5 h fermentation. There was a growth arrest as indicated by the decrease in the OD650 at this time (4.5-5 h). The relative fluorescence (green) intensity was decreased from about 460 to 420 RFU. However, %R/G ratio was significantly increased from about 0.1% to about 0.25% when the DOT level was decreased to 15%. But when the DOT was changed to 100%, a little increase in the RF and decrease in the %R/G ratio were observed. Therefore, GFP can effectively detect and indicate any change in pH and oxygen level during fermentation processes.

Keywords: Escherichia coli SCC1, fermentation process, green fluorescent protein, red fluorescence

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Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut

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This research investigates the distribution of food demand for animal food and the optimum amount of that food production at minimum cost. The data consist of customer purchase orders for the food of laying hens, price of food for laying hens, cost per unit for the food inventory, cost related to food of laying hens in which the food is out of stock, such as fine, overtime, urgent purchase for material. They were collected from January, 1990 to December, 2013 from a factory in Nakhonratchasima province. The collected data are analyzed in order to explore the distribution of the monthly food demand for the laying hens and to see the rate of inventory per unit. The results are used in a stochastic linear programming model for aggregate planning in which the optimum production or minimum cost could be obtained. Programming algorithms in MATLAB and tools in Linprog software are used to get the solution. The distribution of the food demand for laying hens and the random numbers are used in the model. The study shows that the distribution of monthly food demand for laying has a normal distribution, the monthly average amount (unit: 30 kg) of production from January to December. The minimum total cost average for 12 months is Baht 62,329,181.77. Therefore, the production planning can reduce the cost by 14.64% from real cost.

Keywords: animal food, stochastic linear programming, aggregate planning, production planning, demand uncertainty

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Authors: G. V. Siva Krishna Rao, B. Srinivasa Rao

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Electrical energy is vital in every aspect of day-to-day life. Keen interest is taken on all possible sources of energy from which it can be generated and this led to the encouragement of generating electrical power using renewable energy resources such as solar, tidal waves and wind energy. Due to the increasing interest on renewable sources in recent times, the studies on integration of distributed generation to the power grid have rapidly increased. Distributed Generation (DG) is a promising solution to many power system problems such as voltage regulation, power loss and reduction in operational cost, etc. To reduce production cost, it is important to minimize the losses by determining the location and size of local generators to be placed in the radial distribution systems. In this paper, reduction of production cost by optimal size of DG unit operated at optimal power factor is dealt. The optimal size of the DG unit is calculated analytically using approximate reasoning suitable nodes and DG placement to minimize production cost with minimum loss is determined by fuzzy technique. Total Cost of Power generation is compared with and without DG unit for 1 year duration. The suggested method is programmed under MATLAB software and is tested on IEEE 33 bus system and the results are presented.

Keywords: distributed generation, operational cost, exact loss formula, optimum size, optimum location

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Authors: Vladimir Viktorov, M. Readul Mahmud, Carmen Visconte

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Numerical simulation were carried out to study the mixing of miscible liquid at different inlets volume ratio (1 to 3) within two existing mixers namely Chain, Tear-drop and one new “C-H” mixer. The new passive C-H micromixer is developed based on split and recombine principles, combining the operation concepts of known Chain mixer and H mixer. The mixing performances of the three micromixers were predicted by a preliminary numerical analysis of the flow patterns inside the channel in terms of the segregation or distribution of path lines. Afterward, the efficiency and the pressure drop were investigated numerically, taking into account species transport. All numerical calculations were computed at a wide range of Reynolds number from 1 to 100. Among the presented three micromixers, tear-drop provides fairly good efficiency except in the middle range of Re numbers but has high-pressure drop. In addition, inlets flow ratio has a significant influence on efficiency, especially at the Re number range of 10 to 50, Moreover maximum increase of efficiency is almost 10% when inlets flow ratio is increased by 1. Chain mixer presents relatively low mixing efficiency at low and middle range of Re numbers (5≤Re≤50) but has reasonable pressure drop. Furthermore, Chain mixer shows almost no dependence on inlets flow ratio. Whereas, C-H mixer poses excellent mixing efficiency (more than 93%) for all range of Re numbers and causes the lowest pressure drop, On top of that efficiency has slight dependency on inlets flow ratio. In addition, C-H mixer shows respectively about three and two times lower pressure drop than Tear-drop and Chain mixers.

Keywords: CFD, micromixing, passive micromixer, SAR

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Authors: S. Haque, M. Kanapathy, E. Bollen, I. Younis, A. Mosahebi

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Background: Implant loss due to infection is the most devastating complication of implant-based breast reconstruction. The use of negative pressure wound therapy with instillation (NPWTi) for salvage of infected implant-based breast reconstructions has shown promising results to allow early reinsertion of a new implant as an alternative to current management of delayed reinsertion. This study compares the cost implication of NPWTi against current management of delayed reinsertion of infected breast implants. Methods: 20 cases of an infected breast implant treated with NPWTi (V.A.C. VERAFLO™ Therapy) followed by early re-insertion of a new implant were compared with 20 cases who had delayed reinsertion (non-NPWTi). Average cost per person was calculated using total operative expenses, cost of inpatient stay, cost of investigations, cost of antibiotics, and cost of outpatient visits. Results: Treatment with NPWTi allowed for earlier re-insertion of a new implant (NPWTi: 9.04 ± 2.92 days vs. non-NPWTi: 236.25 ± 123.89 days). The average cost per patient for NPWTi and non-NPWTi was £14,343.13 ± £2,786.70 and £8,920.31 ± £3,005.73 respectively. All patients treated with NPWTi had one admission and spent 11.9 ± 4.1days as an inpatient while non-NPWTi patients had 2.1 ± 0.3 admissions with total length of inpatient stay of 7.1 ± 5.8days. Patients treated with NPWTi had more surgeries (NPWTi: 3.35 ± 0.81 vs. non-NPWTi: 2.2 ± 0.41), however 3 non-NPWTi cases required flap reconstruction. Patients treated with NPWTi had fewer total outpatient visits (NPWTi: 12 ± 6 vs. non-NPWTi: 14.2 ± 6.3). Conclusion: Patients treated with NPWTi incurred higher average cost per patient, longer inpatient stay, and more procedures; however, had early re-insertion of new implants and fewer admissions and outpatient visits. A further study on patient-reported outcome is essential to compare cost against patient benefit.

Keywords: breast reconstruction, cost evaluation, infection, negative pressure wound therapy

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Authors: Iman Fakhrian, Ali Salehi Manzari

Abstract:

Consistent Profitability is one of the most important priorities in manufacturing companies. One of the fundamental factors for increasing the companies profitability is cost management. Isfahan's mobarakeh steel company is one of the largest producers of the slab product grades in the middle east. Raw material cost constitutes about 70% of the company's expenditures. The costs of the ferro alloys have a remarkable contribution of the raw material costs. This research aims to determine the ferro alloys which have significant effect on the variability of the standard cost of the slab product grades. Used data in this study were collected from standard costing system of isfahan's mobarakeh steel company in 2022. The results of conducting the regression analysis model show that expense items: 03020, 03045, 03125, 03130 and 03150 have dominant role in variability of the standard cost of the slab product grades. In other words, the mentioned ferro alloys have noticeable and significant role in variability of the standard cost of the slab product grades.

Keywords: consistent profitability, ferro alloys, slab product grades, regression analysis

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Authors: Prince Ayodeji Yusuph

Abstract:

Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm’s performance, only when a sound investment decisions are made.

Keywords: transcedental logarithm, cost structures, insurance firms and efficiency, Nigeria

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Authors: Burkhard Hehenkamp, Tahmina Faizi

Abstract:

In this paper, we analyze the formation of cartels along with the stability of the cartel for the case of three firms that produce differentiated products and differ in their cost of production. Both cost and demand are linear, and firms compete in quantities once a cartel has been formed (or not). It turns out that the degree of product differentiation has a direct effect on the incentive to form a cartel. Firstly, when goods are complements or close substitutes, firms form a grand coalition. Secondly, for weak and medium substitutes, the firm with the lowest cost prefers to remain independent, while both other firms form a coalition. We also find that the producer profit of the stable coalition structure is nonmonotonic in the degree of product differentiation.

Keywords: collusion, cartel formation, cartel stability, differentiated market, quantity competition, oligopolies

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Authors: Amos Olajide Oluyege, Akpanobong Akpan Ekong, Emmanuel Uchechukwu Opara, Sunday Adeniyi Adedutan, Joseph Adeola Fuwape, Olawale John Olukunle

Abstract:

This study was carried out to evaluate the influence of wood species and wood plastic ratio on the physical and mechanical properties of wood plastic composites (WPCs) produced from polyethylene terephthalate (PET) plastic bottle wastes and sawdust from three hardwood species, namely, Terminalia superba, Gmelina arborea, and Ceiba pentandra. The experimental WPCs were prepared from sawdust particle size classes of ≤ 0.5, 0.5 – 1.0, and 1.0 – 2.0 mm at wood/plastic ratios of 40:60, 50:50 and 60:40 (percentage by weight). The WPCs for each study variable combination were prepared in 3 replicates and laid out in a randomized complete block design (RCBD). The physical properties investigated water absorption (WA), linear expansion (LE) and thickness swelling (TS) while the mechanical properties evaluated were Modulus of Elasticity (MOE) and Modulus of Rupture (MOR). The mean values for WA, LE and TS ranged from 1.07 to 34.04, 0.11 to 1.76 and 0.11 to 4.05 %, respectively. The mean values of the three physical properties increased with decrease in wood plastic ratio. Wood plastic ratio of 40:60 at each particle size class generally resulted in the lowest values while wood plastic ratio of 60:40 had the highest values for each of the three species. For each of the physical properties, T. superba had the least mean values followed by G. arborea, while the highest values were observed C. pentandra. The mean values for MOE and MOR ranged from 458.17 to 1875.67 and 2.64 to 18.39 N/mm2, respectively. The mean values of the two mechanical properties decreased with increase in wood plastic ratio. Wood plastic ratio of 40:60 at each wood particle size class generally had the highest values while wood plastic ratio of 60:40 had the least values for each of the three species. For each of the mechanical properties, C. pentandra had the highest mean values followed by G. arborea, while the least values were observed T. superba. There were improvements in both the physical and mechanical properties due to decrease in sawdust particle size class with the particle size class of ≤ 0.5 mm giving the best result. The results of the Analysis of variance revealed significant (P < 0.05) effects of the three study variables – wood species, sawdust particle size class and wood/plastic ratio on all the physical and mechanical properties of the WPCs. It can be concluded from the results of this study that wood plastic composites from sawdust particle size ≤ 0.5 and PET plastic bottle wastes with acceptable physical and mechanical properties are better produced using 40:60 wood/plastic ratio, and that at this ratio, all the three species are suitable for the production of wood plastic composites.

Keywords: polyethylene terephthalate plastic bottle wastes, wood plastic composite, physical properties, mechanical properties

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