Search results for: exchange traded products

Authors: Hailu Getnet

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This study focus on reverse innovation on performance outcomes across developed and subsistence markets context. The subsistence market consists two third of the world population and the largest international market. To date, it has been neglected because of its issues of perceived challenges and seeming unattractiveness compared to the established markets in the west. However, subsistence markets are becoming source of reverse innovation; an innovation that is likely to be adopted first in developing world and successfully traded globally. In response, there is a growing interest on reverse innovation to power the future. Based on the theories of innovation and growing subsistence market literatures, the study propose drivers and outcomes of reverse innovation, a potential similarities and difference in benefiting and challenging firms and consumers in subsistence and developed markets.

Keywords: reverse innovation, subsistence market, developing world, developed market

Procedia PDF Downloads 325

Authors: Pasan Dunuwila, V. H. L. Rodrigo, Naohiro Goto

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Sri Lanka is one the largest natural rubber (NR) producers of the world, where the NR industry is a major foreign exchange earner. Among the locally manufactured NR products, concentrated latex (CL) and ribbed smoked sheets (RSS) hold a significant position. Furthermore, these products become the foundation for many products utilized by the people all over the world (e.g. gloves, condoms, tires, etc.). Processing of CL and RSS costs a significant amount of material, energy, and workforce. With this background, both manufacturing lines have immensely challenged by waste, low productivity, lack of cost efficiency, rising cost of production, and many environmental issues. To face the above challenges, the adaptation of sustainable manufacturing measures that use less energy, water, materials, and produce less waste is imperative. However, these sectors lack comprehensive studies that shed light on such measures and thoroughly discuss their improvement potentials from both environmental and economic points of view. Therefore, based on a study of three CL and three RSS mills in Sri Lanka, this study deploys sustainable manufacturing techniques and tools to uncover the underlying potentials to improve performances in CL and RSS processing sectors. This study is comprised of three steps: 1. quantification of average material waste, economic losses, and greenhouse gas (GHG) emissions via material flow analysis (MFA), material flow cost accounting (MFCA), and life cycle assessment (LCA) in each manufacturing process, 2. identification of improvement options with the help of Pareto and What-if analyses, field interviews, and the existing literature; and 3. validation of the identified improvement options via the re-execution of MFA, MFCA, and LCA. With the help of this methodology, the economic and environmental hotspots, and the degrees of improvement in both systems could be identified. Results highlighted that each process could be improved to have less waste, monetary losses, manufacturing costs, and GHG emissions. Conclusively, study`s methodology and findings are believed to be beneficial for assuring the sustainable growth not only in Sri Lankan NR processing sector itself but also in NR or any other industry rooted in other developing countries.

Keywords: concentrated latex, natural rubber, ribbed smoked sheets, Sri Lanka

Procedia PDF Downloads 261

Authors: Noemia Gomes de Mattos de Mesquita, José Eduardo Ferreira de Oliveira, Arimatea Quaresma Ferraz

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Stops to exchange cutting tool, to set up again the tool in a turning operation with CNC or to measure the workpiece dimensions have a direct influence on production. The premature removal of the cutting tool results in high cost of machining since the parcel relating to the cost of the cutting tool increases. On the other hand, the late exchange of cutting tool also increases the cost of production because getting parts out of the preset tolerances may require rework for its use when it does not cause bigger problems such as breaking of cutting tools or the loss of the part. Therefore, the right time to exchange the tool should be well defined when wanted to minimize production costs. When the flank wear is the limiting tool life, the time predetermination that a cutting tool must be used for the machining occurs within the limits of tolerance can be done without difficulty. This paper aims to show how the life of the cutting tool can be calculated taking into account the cutting parameters (cutting speed, feed and depth of cut), workpiece material, power of the machine, the dimensional tolerance of the part, the finishing surface, the geometry of the cutting tool and operating conditions of the machine tool, once known the parameters of Taylor algebraic structure. These parameters were raised for the ABNT 1038 steel machined with cutting tools of hard metal.

Keywords: machining, productions, cutting condition, design, manufacturing, measurement

Procedia PDF Downloads 635

Authors: Pin-Wei Chiang, Wen-Liang Chang, Ruey-Huei Yeh

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This paper investigates optimal replacement and preventative maintenance policies of secondhand products under a Finite Planning Horizon (FPH). Any consumer wishing to replace their product under FPH would have it undergo minimal repairs. The replacement provided would be required to undergo periodical preventive maintenance done to avoid product failure. Then, a mathematical formula for disbursement cost for products under FPH can be derived. Optimal policies are then obtained to minimize cost. In the first of two segments of the paper, a model for initial product purchase of either new or secondhand products is used. This model is built by analyzing product purchasing price, surplus value of product, as well as the minimal repair cost. The second segment uses a model for replacement products, which are also secondhand products with no limit on usage. This model analyzes the same components as the first as well as expected preventative maintenance cost. Using these two models, a formula for the expected final total cost can be developed. The formula requires four variables (optimal preventive maintenance level, preventive maintenance frequency, replacement timing, age of replacement product) to find minimal cost requirement. Based on analysis of the variables using the expected total final cost model, it was found that the purchasing price and length of ownership were directly related. Also, consumers should choose the secondhand product with the higher usage for replacement. Products with higher initial usage upon acquisition require an earlier replacement schedule. In this case, replacements should be made with a secondhand product with less usage. In addition, preventative maintenance also significantly reduces cost. Consumers that plan to use products for longer periods of time replace their products later. Hence these consumers should choose the secondhand product with lesser initial usage for replacement. Preventative maintenance also creates significant total cost savings in this case. This study provides consumers with a method of calculating both the ideal amount of usage of the products they should purchase as well as the frequency and level of preventative maintenance that should be conducted in order to minimize cost and maintain product function.

Keywords: finite planning horizon, second hand product, replacement, preventive maintenance, minimal repair

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Authors: Layal Mansour

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This paper breaks down Egypt’s financial crisis by constructing a customized financial stress index by including the vulnerable economic indicator “dollarization” as a vulnerable indicator in the credit and exchange sector. The Financial Stress Index for Egypt (FSIE) includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. It is calculated on a monthly basis from 2010 to December 2022, so to report the two recent world’s most devastating financial crises: Covid 19 crisis and Ukraine-Russia War, in addition to the local 2016 and 2022 financial crises. We proceed first by a graphical analysis then by empirical analysis in running under Vector Autoregression (VAR) Model, dynamic causality tests between foreign reserves, dollarization rate, and FSIE. The graphical analysis shows that unexpectedly, Egypt’s economy seems to be immune to internal economic/political instabilities, however it is highly exposed to the foreign and exchange market. Empirical analysis confirms the graphical observations and proves that dollarization, or more precisely debt in foreign currency seems to be the main trigger of Egypt’s current financial crisis.

Keywords: egypt, financial crisis, financial stress index, dollarization, VAR model, causality tests

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Authors: Sohail Yasin, Massimo Curti, Nemeshwaree Behary, Giorgio Rovero

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It is well-known that the presence of discarded textile products in municipal landfills poses environmental problems due to leaching of chemical products from the textile to the environment. Incineration of such textiles is considered to be an efficient way to produce energy and reduce environmental impacts of textile materials at their end-of life stage. However, the presence of flame retardant products on textiles would decrease the energy yield and emit toxic gases during incineration stage. While some non-durable flame retardants can be removed by wet treatments (e.g. washing), these substances pollute water and pose concerns towards environmental health. Our study shows that infrared radiation can be used efficiently to degrade flame retardant products on the textiles. This method is finalized to minimize the decrease in energy yield during the incineration or gasification processes of flame retardant cotton fabrics.

Keywords: degradation, flame retardant, infrared radiation, cotton, incineration

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Authors: Mohammad Azam

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This work is an endeavor to empirically investigate the Gross Domestic Product-Growth as mediating variable between various factors and portfolio returns using a broad sample of 522 financial and non-financial firms enlisted on Pakistan Stock Exchange between January-1993 and June-2022. The study employs the Structural Equation modeling and Ordinary Least Square regression to determine the findings before and during the Covid-19 epidemiological situation, which has not received due attention by researchers. The analysis reveals that market and investment factors are redundant, whereas size and value show significant results, whereas Gross Domestic Product-Growth performs significant mediating impact for the whole time frame. Using before Covid-19 period, the results reveal that market, value, and investment are redundant, but size, profitability, and Gross Domestic Product-Growth are significant. During the Covid-19, the statistics indicate that market and investment are redundant, though size and Gross Domestic Product-Growth are highly significant, but value and profitability are moderately significant. The Ordinary Least Square regression shows that market and investment are statistically insignificant, whereas size is highly significant but value and profitability are marginally significant. Using the Gross Domestic Product-Growth augmented model, a slight growth in R-square is observed. The size, value and profitability factors are recommended to the investors for Pakistan Stock Exchange. Conclusively, in the Pakistani market, the Gross Domestic Product-Growth indicates a feeble moderating effect between risk-premia and portfolio returns.

Keywords: asset pricing puzzle, mediating role of GDP-growth, structural equation modeling, COVID-19 pandemic, Pakistan stock exchange

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Authors: M. Olmedilla, M. R. Martinez-Torres, S. L. Toral

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Electronic Word-Of-Mouth (eWOM) communities represent today an important source of information in which more and more customers base their purchasing decisions. They include thousands of reviews concerning very different products and services posted by many individuals geographically distributed all over the world. Due to their massive audience, eWOM communities can help users to find the product they are looking for even if they are less popular or rare. This is known as the long tail effect, which leads to a larger number of lower-selling niche products. This paper analyzes the long tail effect in a well-known eWOM community and defines a tool for finding niche products unavailable through conventional channels.

Keywords: eWOM, online user reviews, long tail theory, product categorization, social network analysis

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Authors: Wei-Ru Chang, Jenn-Jiang Hwang, Zen-Ting Hsiao, Shu-Feng Lee

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Proton exchange membrane (PEM) fuel cells are widely used in electrical systems as an economical, low-polluting energy source. This study investigates the effects of PEMFC gas nitriding treatment on metal bipolar plates. The test material was SUS304 stainless steel. The study explored five different pretreatment processes, varying the corrosion resistance and electrical conductivity conditions. The most effective process was industrial acid washing, followed by heating to 500 °C. Under the condition, the corrosion current density was 8.695 μA, significantly lower than that of the untreated pretreatment sample flakes, which was measured as 38.351 μA.

Keywords: nitriding, bipolar, 304, corrosion, resistance, pretreatment

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Authors: Kerem Ok, Cem Cevikbas, Vedat Coskun, Mohammed Alsadi, Busra Ozdenizci

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Un-keyed SIM cards do not contain the required security infrastructure to provide end-to-end encryption with Service Providers. Hence, new, emerging, or smart services those require end-to-end encryption between SIM card and a Service Provider is impossible. SIMSec key exchange protocol creates symmetric keys between SIM card and Service Provider. After a successful protocol execution, SIM card and Service Provider creates the symmetric keys and can perform end-to-end data encryption when required. In this paper, our aim is to analyze the SIMSec protocol’s security. According to the results, SIM card and Service Provider can generate keys securely using SIMSec protocol.

Keywords: End-to-end encryption, key exchange, SIM card, smart card

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Authors: Fayaz Moosavi, Saeid Moradyfard

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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.

Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange

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Authors: Meimei Zheng

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Product personalization could not only bring new profits to companies but also provide the direction of long-term development for companies. However, the characteristics of personalized product cause some new problems. This paper investigates how companies make decisions on the supply of personalized products when facing different customer attitudes to personalized product and service, constraints due to limited capacity and updates of personalized demand information. This study will provide optimal decisions for companies to develop personalized markets, resulting in promoting business transformation and improving business competitiveness.

Keywords: demand forecast updating, limited capacity, personalized products, optimization

Procedia PDF Downloads 263

Authors: Shamil Mardi Al Islam, Zaima Ahmed

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The aim of this article is to explore whether certain macroeconomic variables such as industrial index, inflation, broad money, exchange rate and deposit rate as a proxy for interest rate are interlinked with Dhaka stock price index (DSEX index) precisely after the introduction of new index by Dhaka Stock Exchange (DSE) since January 2013. Bangladesh stock market has experienced rapid growth since its inception. It might not be a very well-developed capital market as compared to its neighboring counterparts but has been a strong avenue for investment and resource mobilization. The data set considered consists of monthly observations, for a period of four years from January 2013 to June 2018. Findings from cointegration analysis suggest that DSEX and macroeconomic variables have a significant long-run relationship. VAR decomposition based on VAR estimated indicates that money supply explains a significant portion of variation of stock index whereas, inflation is found to have the least impact. Impact of industrial index is found to have a low impact compared to the exchange rate and deposit rate. Policies should there aim to increase industrial production in order to enhance stock market performance. Further reasonable money supply should be ensured by authorities to stimulate stock market performance.

Keywords: deposit rate, DSEX, industrial index, VAR

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Authors: Mohamed Derbeli, Maissa Farhat, Oscar Barambones, Lassaad Sbita

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Conventional controller (PI) applied to a DC/DC boost converter for the improvement and optimization of the Proton Exchange Membrane Fuel Cell (PEMFC) system efficiency, cannot attain a good performance effect. Thus, due to its advantages comparatively with the PI controller, this paper interest is focused on the use of the sliding mode controller (SMC), Stability of the closed loop system is analytically proved using Lyapunov approach for the proposed controller. The model and the controllers are implemented in the MATLAB and SIMULINK environment. A comparison of results indicates that the suggested approach has considerable advantages compared to the traditional controller.

Keywords: DC/DC boost converter, PEMFC, PI controller, sliding mode controller

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Authors: Ebrahim Sabermaash Eshghi, Donna Sandsmark

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In changing modern economic conditions of the world, one the most important issues facing managers of firms, is increasing the sales and profitability through sales of newly developed products. This is while purpose of decreasing unnecessary costs is one of the most essential programs of smart managers for more implementation with new conditions in current business. In modern life, condition of misgiving is dominant in all of the industries. Accordingly, in this research, influence of different aspects of presenting products to the market is investigated. This study is done through a Quantitative-Qualitative (Interviews and Questionnaire) approach. In sum, 103 of informed managers and experts of Pars-Khazar Company have been examined through census. Validity of measurement tools was approved through judgments of experts. Reliability of tools was gained through Cronbach's alpha coefficient in size of 0.930 and in sum, validity and reliability of tools were approved generally. Results of regression test revealed that the influence of all aspects of product introduction supported the performance of product, positively and significantly. In addition that influence of two new factors raised from the interview, namely Human Resource Management and Management of product’s pre-test on performance of products was approved.

Keywords: introducing products, performance, home appliances, price, advertisement, production

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Authors: Sadık Ata, Kevser Dincer

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In this study, performance of proton exchange membrane (PEM) fuel cell was experimentally investigated and modelled with Rule-Based Mamdani-Type Fuzzy (RBMTF) modelling technique. Coating on the anode side of the PEM fuel cell was accomplished with the spin method by using Yttria-stabilized zirconia (YSZ). Input parameters voltage density (V/cm2), and current density (A/cm2), temperature (°C), time (s); output parameter power density (W/cm2) were described by RBMTF if-then rules. Numerical parameters of input and output variables were fuzzificated as linguistic variables: Very Very Low (L1), Very Low (L2), Low (L3), Negative Medium (L4), Medium (L5), Positive Medium (L6), High (L7), Very High (L8) and Very Very High (L9) linguistic classes. The comparison between experimental data and RBMTF is done by using statistical methods like absolute fraction of variance (R2). The actual values and RBMTF results indicated that RBMTF can be successfully used for the analysis of performance of PEM fuel cell.

Keywords: proton exchange membrane (PEM), fuel cell, rule-based Mamdani-type fuzzy (RMBTF) modeling, yttria-stabilized zirconia (YSZ)

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Authors: Saeed Mohammadirad

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During the first commitment period of the Kyoto Protocol, many developed countries were forced to restrict carbon emissions. Although Iran was one of the countries of Kyoto protocol, due to some special conditions, it was not required to restrict its carbon emissions. Flexible mechanisms were developed to assist countries responsible for reducing their carbon emissions, and regulated carbon markets were introduced. Carbon credits which are provided by organizations in countries with no responsibility to restrict their carbon emissions are traded in voluntary markets. This study focuses on how to measure and report the carbon allowances and carbon credits from accounting view point under both regulated and voluntary markets.

Keywords: carbon credits, carbon markets, accounting, flexible mechanisms

Procedia PDF Downloads 409

Authors: S. V. Ncube, A. I. O. Jideani, E. T. Gwata

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The plight of food insecurity in developing countries has led to renewed interest in underutilized legumes. Their nutritional versatility, desirable functionality, pharmaceutical value and inherent bioactive compounds have drawn the attention of researchers. This has provoked the development of value added products with the aim of commercially exploiting their full potential. However processing of these legumes leads to changes in nutritional composition as affected by processing variables like pH, temperature and pressure. There is therefore a need for process control and quality assurance during production of the value added products. However, conventional methods for microbiological and biochemical identification are labour intensive and time-consuming. Biosensors offer rapid and affordable methods to assure the quality of the products. They may be used to quantify nutrients and anti-nutrients in the products while manipulating and monitoring variables such as pH, temperature, pressure and oxygen that affect the quality of the final product. This review gives an overview of the types of biosensors used in the food industry, their advantages and disadvantages and their possible application in processing of legumes.

Keywords: legume processing, biosensors, quality control, nutritional versatility

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Authors: Paulina Zavistanaviciute, Vita Krungleviciute, Elena Bartkiene

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Lactic acid bacteria (LAB) are microbial supplements that increase the nutritional, therapeutic, and safety value of food and feed. Often LAB strains are incubated in an expensive commercially available de Man-Rogosa-Sharpe (MRS) medium; the cultures are centrifuged, and the cells are washing with sterile water. Potato juice and apple juice industry bio-products are industrial wastes which may constitute a source of digestible nutrients for microorganisms. Due to their low cost and good chemical composition, potato juice and apple juice production bio- products could have a potential application in LAB encapsulation. In this study, pure LAB (P. acidilactici and P. pentosaceus) were multiplied in a crushed potato juice and apple juice industry bio-products medium. Before using, bio-products were sterilized and filtered. No additives were added to mass, except apple juice industry bioproducts were diluted with sterile water (1/5; v/v). The tap of sterilised mass, and LAB cell suspension (5 mL), containing of 8.9 log10 colony-forming units (cfu) per mL of the P. acidilactici and P. pentosaceus was used to multiply the LAB for 72 h. The final colony number in the potato juice and apple juice bio- products substrate was on average 9.60 log10 cfu/g. In order to stabilize the LAB, several methods of dehydration have been tested: lyophilisation (MilrockKieffer Lane, Kingston, USA) and dehydration in spray drying system (SD-06, Keison, Great Britain). Into the spray drying system multiplied LAB in a crushed potato juice and apple juice bio-products medium was injected in peristaltic way (inlet temperature +60 °C, inlet air temperature +150° C, outgoing air temperature +80 °C, air flow 200 m3/h). After lyophilisation (-48 °C) and spray drying (+150 °C) the viable cell concentration in the fermented potato juice powder was 9.18 ± 0.09 log10 cfu/g and 9.04 ± 0.07 log10 cfu/g, respectively, and in apple mass powder 8.03 ± 0.04 log10 cfu/g and 7.03 ± 0.03 log10 cfu/g, respectively. Results indicated that during the storage (after 12 months) at room temperature (22 +/- 2 ºC) LAB count in dehydrated products was 5.18 log10 cfu/g and 7.00 log10 cfu/g (in spray dried and lyophilized potato juice powder, respectively), and 3.05 log10 cfu/g and 4.10 log10 cfu/g (in spray dried and lyophilized apple juice industry bio-products powder, respectively). According to obtained results, potato juice could be used as alternative substrate for P. acidilactici and P. pentosaceus cultivation, and by drying received powders can be used in food/feed industry as the LAB starters. Therefore, apple juice industry by- products before spray drying and lyophilisation should be modified (i. e. by using different starches) in order to improve its encapsulation.

Keywords: bio-products, encapsulation, lactic acid bacteria, sustainability

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Authors: Elizabeth Loza-Valerdi, Victor Pardiñas-Rios, Arnulfo Pluma-Pluma, Andres Breton-Toral, Julio Cercado-Jaramillo

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The purification processes for mixtures of isomeric monosaccharides using industrial chromatographic methods poses a serious technical challenge. Mixtures of 2 or 3 monosaccharides are difficult to separate by strictly physical or chemical techniques. Differential fermentation by microbial cultures is an increasingly interesting way of selective enrichment in a particular kind of monosaccharides when a mixture of them is present in the solution, and only one has economical value. Osmotolerant yeast cultures provide an interesting source of biocatalysts for the selective catabolism of monosaccharides in media containing high concentrations of total soluble sugars. A collection of 398 yeast strains has been obtained using endemic and unique sources of fruit juices, industrial syrups, honey, and other high sugar content substrates, either natural or man made, products and by-products from Mexico. The osmotolerance of the strains was assessed by plate assay both in glucose (20-40-60%w/w). Strains were classified according to their osmotolerance in low, medium or highly tolerant to high glucose concentrations. The purified cultures were tested by their ability to growth in a solid plate media or liquid media of Yeas Nitrogen Base (YNB), added with specific monosaccharides as sole carbon source (glucose, galactose, lactose and fructose). Selected strains were subsequently tested in fermentation experiments with mixtures of two monosaccharides (galactose/glucose and glucose/fructose). Their ability to grow and selectively catabolize one monosaccharide was evaluated. Growth, fermentation activity and products of metabolism were determined by plate counts, CO2 production, turbidity and chromatographic analysis by HPLC. Selective catabolism of one monosaccharide in liquid media containing two monosaccharides was confirmed for 8 strains. Ion Exchange chromatographic processes were used in production of high fructose or galactose syrup. Laboratory scale processes for the production of fructose or galactose enriched syrups is now feasible, with important applications in food (like high fructose syrup as edulcorant) and fermentation technology (for GOS production).

Keywords: osmotolerant yeasts, selective metabolism, fructose syrup, GOS

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Authors: Shivkumar Krishnamurti, Ruchi Agarwal

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The study examines the influence of marital status on consumers of products and services using blogs as a source of information. A pre-designed questionnaire was used to collect the primary data from the respondents (experiences). Data were collected from one hundred and eighty seven respondents residing in and around the Emirates of Sharjah and Dubai of the United Arab Emirates. The collected data was analyzed with the help of statistical tools such as averages, percentages, factor analysis, student’s t-test and structural equation modeling technique. Objectives of the study are to know the reasons how married and unmarried or single consumers of products and services are motivated to use blogs as a source of information, to know whether the consumers of products and services irrespective of their marital status share their views and experiences with other bloggers and to know the respondents’ future intentions towards blogging. The study revealed the following: Majority of the respondents have the motivation to blog because they are willing to receive comments on what they post about services, convenience of blogs to search for information about services and products, by blogging respondents share information on the symptoms of a disease/ disorder that may be experienced by someone, helps to share information about ready to cook mix products and are keen to spend more time blogging in the future.

Keywords: blog, consumer, information, marital status

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Authors: Chin-Ho Lin

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This study explores the impact of technical barriers to trade(TBT) on the import value and weight of 54 types of waste products between ASEAN+6 countries and 200 trading partners from 1999–to 2018. By using disaggregated detailed product data and the gravity model, we obtained results demonstrating that implementation of TBT by importing countries is likely to enhance waste trade. After controlling for three combinations of fixed effects, the results remain robust. We consider the quality of waste products by dividing waste products into recyclable and nonrecyclable materials, revealing that imported recyclable waste is more likely to be imported than nonrecyclable waste. When waste trade isregulated by importing countries through TBT implementation, the exporting countries may export relatively valuable waste products, and recyclable waste is of greater economic value because it can be used as an input in other production processes. Finally, developed countries are more likely than developing countries to export waste to the ASEAN+6countries, a finding that supports the waste haven hypothesis.

Keywords: waste trade, ASEAN+6, technical barriers to trade, gravity model, waste haven hypothesis

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Authors: Georgios A. Fragkiadakis, Antonia Psaroudaki, Theodora Mouratidou, Eirini Sfakianaki

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Research: The nutritional benefits of eating carob are many and important for the human organism, as it is a food rich in carbohydrates and low in fat and contains multiple nutrients, making it a "superfood". Within the framework of the project "Actions for the optimal utilization of the potential of carob in the Region of Crete" which is financed-supervised by the Region of Crete, a second-grade local self-government authority, with the collaboration of the University of Crete and of the Hellenic Mediterranean University, an online survey was carried out with the aim of evaluating dietary habits and views related to the consumption of carob and its products in a sample of local residents. Results and Conclusions: Of the 351 participants, 259 (73.8%) stated that they consume carob products, and 26.2% stated that they do not. Difficult access and limited availability of carob-food products (33.7%), high price (20.7%), and difficulties of use and preparation (15.2%) were cited as the main reasons for non-consumption. Other reasons, to a lesser extent, concern the taste, especially the sweet aftertaste of some products. Concerning the behavior and eating habits related to the consumption of carob products (n=259), 57.9% of the sample report that they buy carob products "sometimes"; 21.2% report "often"; 19.7% report "rarely", and a very small percentage of 1.2% report "constantly". With reference to the reasons for choosing carob products, the participants mention the main reason for their high nutritional value (51.7%), followed by 32.4% of nutritional claims and health claims, and the organoleptic characteristics (10.8%). Other positive factors are the final price of the product, the ease of use, and the respect for the local environment and producers. Some bakery products show the highest percentage of consumption among carob-food consumers, mainly in the form of rusks (86.1%) and breadsticks (70.3%). They are followed, in descending order, by bread (63.3%), toast (52.1%), and flour (50.6%). More specifically: 40.5% consume carob rusks less than once a month; 22% consume less than once a week; up to twice a week 12.4%; 6.6%, consume rusks 3 to 4 times a week, and daily 3.9%. It is worth mentioning that a high percentage of consumers of carob products recommend the consumption to their family and friends. Only a small percentage, in the range of 5%, does not recommend the consumption of carob products in their close family/social circle. The main motivating factors for the consumption of carob products are the expected effects they may have on health (74.1%) and the organoleptic characteristics with a percentage of 21.6%.

Keywords: food, consumer, preferences, carob, Crete, Greece

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Authors: Bel Abed Ines Mariem

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Different stock markets keep changing their exchange structure for the only purpose of improving the functioning of their markets. This paper investigates the effects of the transfer from one trading category to another in the Tunisian Stock Exchange on market price and liquidity. The sample consists of 40 securities transferred from call auction to continuous auction and conversely during the period between 2004 and 2013. The methodology used is the event study. Empirical results show an interesting phenomenon observed; stocks transferred to the call system have experienced an improvement on their price and liquidity especially for less liquid ones. However, price and liquidity for stocks transferred from call system to continuous system have decreased.

Keywords: microstructure, call auction, continuous auction, price, liquidity and event study

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Authors: Sonja Grobler

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Background: Leadership and specifically Leader, member exchange has a definite impact on employee behaviour and attitudes, and specifically their state of psychological capital. The interactionist construct of person-organisational fit (P-O fit), consisting of a combination of supplementary fit (indirect fit or value congruence) and complementary fit (direct or person-job fit, as well as needs-supply fit) may, however, impact on the relationship between LMX and psychological capital. The unique permutations of these relationships are important not only for conceptualisation purposes but also for intervention design to enhance the employees’ psychological capital; this would contribute to positive employee behaviour and attitudes. Aim: The purpose of this study was to determine whether a relationship exists between Leader, Member Exchange (LMX) and psychological capital, with possible mediation by P-O fit. Setting: The research was conducted with ± 60 employees from each of 43 private sectors and four public sector organisations in South Africa. Method: This study utilised a positivist methodology based on an empirical approach while using a cross-sectional design and quantitative analysis. The sample is relatively representative (in terms of race, gender, and the South African work force), as it consisted of 60 employees from each of the 43 South African organisations that participated in the study, with 2 486 respondents in total. Results: Significant, positive relationships were found between LMX, P-O fit, and psychological capital. Additionally, it was found that P-O fit partially mediates the relationship between ethical leadership and supervisory trust, confirming the proposed model. Conclusion: A strong, positive relationship exists between LMX (consisting of Affect, Loyalty, Contribution, and Professional Respect) and psychological capital (consisting of Self-efficacy, Hope, Resilience and Optimism) which is partially mediated by P-O fit (consisting of supplementary fit and complementary fit).

Keywords: leader and member exchange, person-organisational fit, psychological capital, positive psychology, interactionist approach

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Authors: Yuzhi Cai

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In this paper, we discuss a Bayesian approach to quantile autoregressive (QAR) time series model estimation and forecasting. Together with a combining forecasts technique, we then predict USD to GBP currency exchange rates. Combined forecasts contain all the information captured by the fitted QAR models at different quantile levels and are therefore better than those obtained from individual models. Our results show that an unequally weighted combining method performs better than other forecasting methodology. We found that a median AR model can perform well in point forecasting when the predictive density functions are symmetric. However, in practice, using the median AR model alone may involve the loss of information about the data captured by other QAR models. We recommend that combined forecasts should be used whenever possible.

Keywords: combining forecasts, MCMC, predictive density functions, quantile forecasting, quantile modelling

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Authors: Na Li, Samuel Simon Araya, Søren Knudsen Kær

Abstract:

This study investigates the effects of operating parameters of different current density, temperature and pressure on the performance of a proton exchange membrane (PEM) water electrolysis stack. A 7-cell PEM water electrolysis stack was assembled and tested under different operation modules. The voltage change and polarization curves under different test conditions, namely current density, temperature and pressure, were recorded. Results show that higher temperature has positive effect on overall stack performance, where temperature of 80 ℃ improved the cell performance greatly. However, the cathode pressure and current density has little effect on stack performance.

Keywords: PEM electrolysis stack, current density, temperature, pressure

Procedia PDF Downloads 203

Authors: Ahmed O. Apampa, Yinusa A. Jimoh

Abstract:

The paper examines the mechanism of pozzolan-soil reactions, using a recent study on the chemical stabilization of a Class A-2-7 (3) lateritic soil, with corn cob ash (CCA) as case study. The objectives are to establish a nexus between cation exchange capacity of the soil, the alkaline forming compounds in CCA and percentage CCA addition to soil beyond which no more improvement in strength properties can be achieved; and to propose feasible chemical reactions to explain the chemical stabilization of the lateritic soil with CCA alone. The lateritic soil, as well as CCA of pozzolanic quality Class C were separately analysed for their metallic oxide composition using the X-Ray Fluorescence technique. The cation exchange capacity (CEC) of the soil and the CCA were computed theoretically using the percentage composition of the base cations Ca²⁺, Mg²⁺ K⁺ and Na²⁺ as 1.48 meq/100 g and 61.67 meq/100 g respectively, thus indicating a ratio of 0.024 or 2.4%. This figure, taken as the theoretical amount required to just fill up the exchangeable sites of the clay molecules, compares well with the laboratory observation of 1.5% for the optimum level of CCA addition to lateritic soil. The paper went on to present chemical reaction equations between the alkaline earth metals in the CCA and the silica in the lateritic soil to form silicates, thereby proposing an extension of the theory of mechanism of soil stabilization to cover chemical stabilization with pozzolanic ash only. The paper concluded by recommending further research on the molecular structure of soils stabilized with pozzolanic waste ash alone, with a view to confirming the chemical equations advanced in the study.

Keywords: cation exchange capacity, corn cob ash, lateritic soil, soil stabilization

Procedia PDF Downloads 251

Authors: Ersin Karakaya, Halit Tutar

Abstract:

Reliable foods must be consumed in terms of healthy nutrition. The production and dissemination of diatom products in Turkey is rapidly evolving on the basis of preserving ecological balance, ensuring sustainability in agriculture and offering quality, reliable products to consumers. In this study, year in Turkey as (2002- 2015) to determine values of such as cultivated land of organic vegetable production, production levels, production quantity, number of products, number of farmers. It is intended to make the econometric analysis of the factors affecting the production of organic vegetable production (Number of products, Number of farmers and cultivated land). The main material of the study has created secondary data in relation to the 2002-2015 period as organic vegetable production in Turkey and regression analysis of the factors affecting the value of production of organic vegetable is determined by the Least Squares Method with EViews statistical software package.

Keywords: number of farmers, cultivated land, Eviews, Turkey

Procedia PDF Downloads 307

Authors: Petra Palic, Maruska Vizek

Abstract:

We provide an in-depth analysis of interdependence of asset returns and volatilities in developed and developing countries. The analysis is split into three parts. In the first part, we use multivariate GARCH model in order to provide stylized facts on cross-market volatility spillovers. In the second part, we use a generalized vector autoregressive methodology developed by Diebold and Yilmaz (2009) in order to estimate separate measures of return spillovers and volatility spillovers among sovereign bond, equity, foreign exchange and commodity markets. In particular, our analysis is focused on cross-market return, and volatility spillovers in 19 developed and developing countries. In order to estimate named spillovers, we use daily data from 2008 to 2017. In the third part of the analysis, we use a generalized vector autoregressive framework in order to estimate total and directional volatility spillovers. We use the same daily data span for one developed and one developing country in order to characterize daily volatility spillovers across stock, bond, foreign exchange and commodities markets.

Keywords: cross-market spillovers, sovereign bond markets, equity markets, value at risk (VAR)

Procedia PDF Downloads 264