Search results for: capture fisheries
1015 The Effect of Corporate Governance on Earnings Management: When Firms Report Increasing Earnings
Authors: Su-Ping Liu, Yue Tian, Yifan Shen
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This study investigates the effect of corporate governance on earnings management when firms have reported a long stream of earnings increases (hereafter referred to as earnings beaters). We expect that good quality of corporate governance decreases the probability of income-increasing earnings management. We employ transparent tools to capture firms’ opportunistic management behavior, specifically, the repurchase of stock. In addition, we use corporate governance proxies to measure the degree of corporate governance, including board size, board independence, CEO duality, and the frequency of meeting. The results hold after the controlling of variables that suggested in prior literature. We expect that the simple technique, that is, firms’ degree of corporate governance, to be used as an inexpensive first step in detecting earnings management.Keywords: corporate governance, earnings management, earnings patterns, stock repurchase
Procedia PDF Downloads 1591014 Design and Implementation of Bluetooth Controlled Autonomous Vehicle
Authors: Amanuel Berhanu Kesamo
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This paper presents both circuit simulation and hardware implementation of a robot vehicle that can be either controlled manually via Bluetooth with video streaming or navigate autonomously to a target point by avoiding obstacles. In manual mode, the user controls the mobile robot using C# windows form interfaced via Bluetooth. The camera mounted on the robot is used to capture and send the real time video to the user. In autonomous mode, the robot plans the shortest path to the target point while avoiding obstacles along the way. Ultrasonic sensor is used for sensing the obstacle in its environment. An efficient path planning algorithm is implemented to navigate the robot along optimal route.Keywords: Arduino Uno, autonomous, Bluetooth module, path planning, remote controlled robot, ultra sonic sensor
Procedia PDF Downloads 1381013 Backstepping Controller for a Variable Wind Speed Energy Conversion System Based on a DFIG
Authors: Sara Mensou, Ahmed Essadki, Issam Minka, Tamou Nasser, Badr Bououlid Idrissi
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In this paper we present a contribution for the modeling and control of wind energy conversion system based on a Doubly Fed Induction Generator (DFIG). Since the wind speed is random the system has to produce an optimal electrical power to the Network and ensures important strength and stability. In this work, the Backstepping controller is used to control the generator via two converter witch placed a DC bus capacitor and connected to the grid by a Filter R-L, in order to optimize capture wind energy. All is simulated and presented under MATLAB/Simulink Software to show performance and robustness of the proposed controller.Keywords: wind turbine, doubly fed induction generator, MPPT control, backstepping controller, power converter
Procedia PDF Downloads 1771012 Synthesis of Methanol through Photocatalytic Conversion of CO₂: A Green Chemistry Approach
Authors: Sankha Chakrabortty, Biswajit Ruj, Parimal Pal
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Methanol is one of the most important chemical products and intermediates. It can be used as a solvent, intermediate or raw material for a number of higher valued products, fuels or additives. From the last one decay, the total global demand of methanol has increased drastically which forces the scientists to produce a large amount of methanol from a renewable source to meet the global demand with a sustainable way. Different types of non-renewable based raw materials have been used for the synthesis of methanol on a large scale which makes the process unsustainable. In this circumstances, photocatalytic conversion of CO₂ into methanol under solar/UV excitation becomes a viable approach to give a sustainable production approach which not only meets the environmental crisis by recycling CO₂ to fuels but also reduces CO₂ amount from the atmosphere. Development of such sustainable production approach for CO₂ conversion into methanol still remains a major challenge in the current research comparing with conventional energy expensive processes. In this backdrop, the development of environmentally friendly materials, like photocatalyst has taken a great perspective for methanol synthesis. Scientists in this field are always concerned about finding an improved photocatalyst to enhance the photocatalytic performance. Graphene-based hybrid and composite materials with improved properties could be a better nanomaterial for the selective conversion of CO₂ to methanol under visible light (solar energy) or UV light. The present invention relates to synthesis an improved heterogeneous graphene-based photocatalyst with improved catalytic activity and surface area. Graphene with enhanced surface area is used as coupled material of copper-loaded titanium oxide to improve the electron capture and transport properties which substantially increase the photoinduced charge transfer and extend the lifetime of photogenerated charge carriers. A fast reduction method through H₂ purging has been adopted to synthesis improved graphene whereas ultrasonication based sol-gel method has been applied for the preparation of graphene coupled copper loaded titanium oxide with some enhanced properties. Prepared photocatalysts were exhaustively characterized using different characterization techniques. Effects of catalyst dose, CO₂ flow rate, reaction temperature and stirring time on the efficacy of the system in terms of methanol yield and productivity have been studied in the present study. The study shown that the newly synthesized photocatalyst with an enhanced surface resulting in a sustained productivity and yield of methanol 0.14 g/Lh, and 0.04 g/gcat respectively, after 3 h of illumination under UV (250W) at an optimum catalyst dosage of 10 g/L having 1:2:3 (Graphene: TiO₂: Cu) weight ratio.Keywords: renewable energy, CO₂ capture, photocatalytic conversion, methanol
Procedia PDF Downloads 1021011 Metamorphosis of Caste: An Examination of the Transformation of Caste from a Material to Ideological Phenomenon in Sri Lanka
Authors: Pradeep Peiris, Hasini Lecamwasam
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The fluid, ambiguous, and often elusive existence of caste among the Sinhalese in Sri Lanka has inspired many scholarly endeavours. Originally, Sinhalese caste was organized according to the occupational functions assigned to various groups in society. Hence cultivators came to be known as Goyigama, washers Dobi, drummers Berava, smiths Navandanna and so on. During pre-colonial times the specialized services of various groups were deployed to build water reservoirs, cultivate the land, and/or sustain the Buddhist order by material means. However, as to how and why caste prevails today in Sinhalese society when labour is in ideal terms free to move where it wants, or in other words, occupation is no longer strictly determined or restricted by birth, is a question worth exploring. Hence this paper explores how, and perhaps more interestingly why, when the nexus between traditional occupations and caste status is fast disappearing, caste itself has managed to survive and continues to be salient in politics in Sri Lanka. In answer to this larger question, the paper looks at caste from three perspectives: 1) Buddhism, whose ethical project provides a justification of social stratifications that transcends economic bases 2) Capitalism that has reactivated and reproduced archaic relations in a process of 'accumulation by subordination', not only by reinforcing the marginality of peripheral caste groups, but also by exploiting caste divisions to hinder any realization of class interests and 3) Democracy whose supposed equalizing effect expected through its ‘one man–one vote’ approach has been subverted precisely by itself, whereby the aggregate ultimately comes down to how many such votes each ‘group’ in society has. This study draws from field work carried out in Dedigama (in the District of Kegalle, Central Province) and Kelaniya (in the District of Colombo, Western Province) in Sri Lanka over three years. The choice of field locations was encouraged by the need to capture rural and urban dynamics related to caste since caste is more apparently manifest in rural areas whose material conditions partially warrant its prevalence, whereas in urban areas it exists mostly in the ideological terrain. In building its analysis, the study has employed a combination of objectivist and subjectivist approaches to capture the material and ideological existence of caste and caste politics in Sinhalese society. Therefore, methods such as in-depth interviews, observation, and collection of demographical and interpretive data from secondary sources were used for this study. The paper has been situated in a critical theoretical framework of social inquiry in an attempt to question dominant assumptions regarding such meta-labels as ‘Capitalism’ and ‘Democracy’, and also the supposed emancipatory function of religion (focusing on Buddhism).Keywords: Buddhism, capitalism, caste, democracy, Sri Lanka
Procedia PDF Downloads 1311010 An Examination of Thai Tourists' Motivation Behavior and Perception of Cultural Heritage in Chiang Mai Province
Authors: Sujui Yang, Peeraya Somsak, Markus Blut
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This research examines the international tourists in Chiang Mai, Thailand. It aims to study non-Thai tourists’ of this region to better understand their behavior and motives influencing the choice of cultural heritage tourists in Chiang Mai, Thailand. The data includes questionnaires of 250 tourists in the study area. The most important motives influencing decisions choices are several concerning customers’ perspectives on tourist destinations in cultural heritage in Chiang Mai province. Thai tourists in Chiang Mai are single, 72.5 percent are in the age of 21-40 years old and 50% of sample group are from central and northern of Thailand. Tourists’ motives capture the factor loading as well as the corresponding show 5 components: relaxation motives, place/ physical motives, learning motives, image motives, and achievement motives.Keywords: tourists motives, cultural heritage, Chiang Mai, customers’ perspectives
Procedia PDF Downloads 3751009 The Kanuri Factor in the 20th Century Economy of Sokoto City
Authors: Murtala Marafa
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This research is on socio-economic contributions of the Kanuri migrant community in Sokoto City during the 20th century. Kanuri migrants have been one of the major migrant groups who played and still playing positive role in the development of Sokoto city. The research will make an attempt to examine both the push and pulls factors responsible for Kanuri migration to Sokoto City. It is in the light of this that the research will examine and capture profiles of select prominent Kanuri migrants within the Sokoto city, in order to identify their major economic contributions to the development of Sokoto City. It is hoped that the study will show in the final analysis that the migration of Kanuri to Sokoto city have impacted positively to the socio-economic development of Sokoto city.Keywords: development, economy, Kanuri, migration
Procedia PDF Downloads 2621008 Viability Analysis of a Centralized Hydrogen Generation Plant for Use in Oil Refining Industry
Authors: C. Fúnez Guerra, B. Nieto Calderón, M. Jaén Caparrós, L. Reyes-Bozo, A. Godoy-Faúndez, E. Vyhmeister
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The global energy system is experiencing a change of scenery. Unstable energy markets, an increasing focus on climate change and its sustainable development is forcing businesses to pursue new solutions in order to ensure future economic growth. This has led to the interest in using hydrogen as an energy carrier in transportation and industrial applications. As an energy carrier, hydrogen is accessible and holds a high gravimetric energy density. Abundant in hydrocarbons, hydrogen can play an important role in the shift towards low-emission fossil value chains. By combining hydrogen production by natural gas reforming with carbon capture and storage, the overall CO2 emissions are significantly reduced. In addition, the flexibility of hydrogen as an energy storage makes it applicable as a stabilizer in the renewable energy mix. The recent development in hydrogen fuel cells is also raising the expectations for a hydrogen powered transportation sector. Hydrogen value chains exist to a large extent in the industry today. The global hydrogen consumption was approximately 50 million tonnes (7.2 EJ) in 2013, where refineries, ammonia, methanol production and metal processing were main consumers. Natural gas reforming produced 48% of this hydrogen, but without carbon capture and storage (CCS). The total emissions from the production reached 500 million tonnes of CO2, hence alternative production methods with lower emissions will be necessary in future value chains. Hydrogen from electrolysis is used for a wide range of industrial chemical reactions for many years. Possibly, the earliest use was for the production of ammonia-based fertilisers by Norsk Hydro, with a test reactor set up in Notodden, Norway, in 1927. This application also claims one of the world’s largest electrolyser installations, at Sable Chemicals in Zimbabwe. Its array of 28 electrolysers consumes 80 MW per hour, producing around 21,000 Nm3/h of hydrogen. These electrolysers can compete if cheap sources of electricity are available and natural gas for steam reforming is relatively expensive. Because electrolysis of water produces oxygen as a by-product, a system of Autothermal Reforming (ATR) utilizing this oxygen has been analyzed. Replacing the air separation unit with electrolysers produces the required amount of oxygen to the ATR as well as additional hydrogen. The aim of this paper is to evaluate the technical and economic potential of large-scale production of hydrogen for oil refining industry. Sensitivity analysis of parameters such as investment costs, plant operating hours, electricity price and sale price of hydrogen and oxygen are performed.Keywords: autothermal reforming, electrolyser, hydrogen, natural gas, steam methane reforming
Procedia PDF Downloads 2051007 Value from Environmental and Cultural Perspectives or Two Sides of the Same Coin
Authors: Vilem Paril, Dominika Tothova
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This paper discusses the value theory in cultural heritage and the value theory in environmental economics. Two economic views of the value theory are compared within the field of cultural heritage maintenance and within the field of the environment. The main aims are to find common features in these two differently structured theories under the layer of differently defined terms as well as really differing features of these two approaches, to clear the confusion which stems from different terminology as in fact these terms capture the same aspects of reality and to show possible inspiration these two perspectives can offer one another. Another aim is to present these two value systems in one value framework. First, important moments of the value theory from the economic perspective are presented, leading to the marginal revolution of (not only) the Austrian School. Then the theory of value within cultural heritage and environmental economics are explored. Finally, individual approaches are compared and their potential mutual inspiration searched for.Keywords: cultural heritage, environmental economics, existence value, value theory
Procedia PDF Downloads 3141006 Blue Hydrogen Production Via Catalytic Aquathermolysis Coupled with Direct Carbon Dioxide Capture Via Adsorption
Authors: Sherif Fakher
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Hydrogen has been gaining a lot of global attention as an uprising contributor in the energy sector. Labeled as an energy carrier, hydrogen is used in many industries and can be used to generate electricity via fuel cells. Blue hydrogen involves the production of hydrogen from hydrocarbons using different processes that emit CO₂. However, the CO₂ is captured and stored. Hence, very little environmental damage occurs during the hydrogen production process. This research investigates the ability to use different catalysts for the production of hydrogen from different hydrocarbon sources, including coal, oil, and gas, using a two-step Aquathermolysis reaction. The research presents the results of experiments conducted to evaluate different catalysts and also highlights the main advantages of this process over other blue hydrogen production methods, including methane steam reforming, autothermal reforming, and oxidation. Two methods of hydrogen generation were investigated including partial oxidation and aquathermolysis. For those two reactions, the reaction kinetics, thermodynamics, and medium were all investigated. Following this, experiments were conducted to test the hydrogen generation potential from both methods. The porous media tested were sandstone, ash, and prozzolanic material. The spent oils used were spent motor oil and spent vegetable oil from cooking. Experiments were conducted at temperatures up to 250 C and pressures up to 3000 psi. Based on the experimental results, mathematical models were developed to predict the hydrogen generation potential at higher thermodynamic conditions. Since both partial oxidation and aquathermolysis require relatively high temperatures to undergo, it was important to devise a method by which these high temperatures can be generated at a low cost. This was done by investigating two factors, including the porous media used and the reliance on the spent oil. Of all the porous media used, the ash had the highest thermal conductivity. The second step was the partial combustion of part of the spent oil to generate the heat needed to reach the high temperatures. This reduced the cost of the heat generation significantly. For the partial oxidation reaction, the spent oil was burned in the presence of a limited oxygen concentration to generate carbon monoxide. The main drawback of this process was the need for burning. This resulted in the generation of other harmful and environmentally damaging gases. Aquathermolysis does not rely on burning, which makes it the cleaner alternative. However, it needs much higher temperatures to run the reaction. When comparing the hydrogen generation potential for both using gas chromatography, aquathermolysis generated 23% more hydrogen using the same volume of spent oil compared to partial oxidation. This research introduces the concept of using spent oil for hydrogen production. This can be a very promising method to produce a clean source of energy using a waste product. This can also help reduce the reliance on freshwater for hydrogen generation which can divert the usage of freshwater to other more important applications.Keywords: blue hydrogen production, catalytic aquathermolysis, direct carbon dioxide capture, CCUS
Procedia PDF Downloads 211005 Comparison of Machine Learning Models for the Prediction of System Marginal Price of Greek Energy Market
Authors: Ioannis P. Panapakidis, Marios N. Moschakis
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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.Keywords: deregulated energy market, forecasting, machine learning, system marginal price
Procedia PDF Downloads 2061004 Discovery of the Piano Extended Techniques by Focusing on Symbols That George Crumb Used in Makrokosmos Volumes
Authors: Parham Bakhtiari
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George Crumb's Makrokosmos Volumes are considered significant pieces in twentieth-century piano music and showcase the extensive use of different tones and extended techniques on the piano. Crumb's works are known for making references, particularly to music from previous eras which the visual, aural, and numerical characteristics are symbolic in nature. Crumb created a list of symbols and shortened letters to clarify his unique directions to those who performed his compositions. The pianists who prepare to play Makrokosmos must dedicate time to study and analyze Crumb's markings diligently to accurately capture the composer's wishes. The aim of this paper is to provide a collection for pianists looking to perform George Crumb's compositions known as Makrokosmos Volumes. The research traits of unconventional playing techniques and discussions on the music explored by the composer are being described.Keywords: music, piano, Crumb, Makrokosmos, performance
Procedia PDF Downloads 351003 Evaluation of the Costs and Benefits of Mumbai Sewage Disposal Project, India
Authors: Indrani Gupta, Leena Vachasiddha, Rakesh Kumar
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Municipal Corporation of Greater Mumbai intends to undertake Mumbai Sewage Disposal (MSDP) for improvement of environment in and around Mumbai city. Sewage generated from the city currently gets partly into the inadequate collection system for treatment and the rest into nearby marine water body through drains. This paper addresses the cost benefit analysis of MSDP works for better compliance of sewage treatment and disposal. Cost benefit analysis indicates that the investment in sewage treatment is economically beneficial and will provide immense social, environmental, health and economic benefits. Monetary values of positive benefits such as avoided health costs, enhanced fish catches and improved tourism have been quantified. The total capital cost of the project is estimated to be about INR 51,510 million and operation and maintenance cost is about INR 2240.6 million per year. The cost benefit analysis indicates that a benefit of about 25,882 million per year can be achieved due to the implementation of this project. Other than these benefits, better marine ecosystem quality; higher property cost; improved recreational opportunities were not included because of lack of information.Keywords: waste water treatment, cost-benefit analysis, health, tourism, fisheries
Procedia PDF Downloads 3251002 Public-Private Partnership in Tourism Development: Kuwait Experience within 2035 Vision
Authors: Obaid Alotaibi
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Tourism and recreation have become one of the important and influential sectors in most of the modern economies. This sector has been accepted as one of the alternative sources of national income, employment, and foreign exchange. Kuwait has many potentialities in tourism and recreation, and exploitation of this leads to more diversification of the economy besides augmenting its contribution to the GDP. It is an import-oriented economy; it requires hard currencies (foreign exchange) to meet the import costs as well as to maintain stability in the international market. To compensate for the revenue fall stemmed from fluctuations in oil prices -where the agriculture, fisheries, and industrial sectors are too immune and inelastic- the only alternative solution is the regeneration of the tourism and recreation to surface. This study envisages the characteristics of tourism and recreation, the economic and social importance for the society, the physical and human endowments, as well as the tourist pattern and plans for promoting and sustaining tourism in the country. The study summarizes many recommendations, including the necessity of establishing authority or a council for tourism, linking the planning of tourism development with the comprehensive planning for economic and social development in Kuwait in the shadow of 2035 vision, and to encourage the investors to develop new tourist and recreation projects.Keywords: Kuwait, public-private, partnership, tourism, 2035 vision
Procedia PDF Downloads 1221001 Adopting Collaborative Business Processes to Prevent the Loss of Information in Public Administration Organisations
Authors: A. Capodieci, G. Del Fiore, L. Mainetti
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Recently, the use of web 2.0 tools has increased in companies and public administration organizations. This phenomenon, known as "Enterprise 2.0", has, de facto, modified common organizational and operative practices. This has led “knowledge workers” to change their working practices through the use of Web 2.0 communication tools. Unfortunately, these tools have not been integrated with existing enterprise information systems, a situation that could potentially lead to a loss of information. This is an important problem in an organizational context, because knowledge of information exchanged within the organization is needed to increase the efficiency and competitiveness of the organization. In this article we demonstrate that it is possible to capture this knowledge using collaboration processes, which are processes of abstraction created in accordance with design patterns and applied to new organizational operative practices.Keywords: business practices, business process patterns, collaboration tools, enterprise 2.0, knowledge workers
Procedia PDF Downloads 3501000 USE-Net: SE-Block Enhanced U-Net Architecture for Robust Speaker Identification
Authors: Kilari Nikhil, Ankur Tibrewal, Srinivas Kruthiventi S. S.
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Conventional speaker identification systems often fall short of capturing the diverse variations present in speech data due to fixed-scale architectures. In this research, we propose a CNN-based architecture, USENet, designed to overcome these limitations. Leveraging two key techniques, our approach achieves superior performance on the VoxCeleb 1 Dataset without any pre-training. Firstly, we adopt a U-net-inspired design to extract features at multiple scales, empowering our model to capture speech characteristics effectively. Secondly, we introduce the squeeze and excitation block to enhance spatial feature learning. The proposed architecture showcases significant advancements in speaker identification, outperforming existing methods, and holds promise for future research in this domain.Keywords: multi-scale feature extraction, squeeze and excitation, VoxCeleb1 speaker identification, mel-spectrograms, USENet
Procedia PDF Downloads 67999 First Occurrence of Histopathological Assessment in Gadoid Deep-Fish Phycis blennoides from the Southwestern Mediterranean Sea
Authors: Zakia Alioua, Amira Soumia, Zerouali-Khodja Fatiha
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In spite of a wide variety of contaminants such as heavy metals and organic compounds in addition to the importance of extended pollution, the deep-sea and its species are not in haven and being affected through contaminants exposure. This investigation is performed in order to provide data on the presence of pathological changes in the liver and gonads of the greater forkbeard. A total of 998 specimens of the teleost fish Phycis blennoides Brünnich, 1768 ranged from 5,7 to 62,7 cm in total length, were obtained from the commercial fisheries of Algerian ports. The sampling has been carried out monthly from December 2013 to June 2015 and from January to June 2016 caught by trawlers and longlines between 75 and 600 fathoms in the coast of Algeria. Individuals were sexed their gonads, and their livers were removed and processed for light microscopy and one case of atresia was identified. In whole, overall 0,002% of the specimens presented some degree of liver steatosis. For the gastric section, 442 selected stomachs contents were observed looking for parasitic infestation and enumerate 212 nematodes. A prospecting survey for metal contaminant was performed on the liver by atomic absorption spectrophotometry analysis.Keywords: atresia, coast of Algeria, histopathology, nematode, Phycis blennoides, steatosis
Procedia PDF Downloads 225998 Remembering and Forgetting in Shakespeare Sonnets
Authors: Nasreddin Bushra Ahmed
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Humans use language to externalize their mental perceptions and conceptions and thereby set up an interdependent consciousness about the concrete and abstract spheres of their existence. Language also represents a recording device whereby they capture the transient moment in their lives. Literature with it its various manifestations help keep the individual and collective memories alive. Works of the English literature’s prototypical figure, William Shakespeare provides the best illustration of this fact. Shakespeare’s sonnets abound in prescient insights about the intricacies of human relations. Though they have been the concern of scholars’ investigations for centuries, many of their thematic potentialities are yet to be tapped. The present study aspires to highlight the theme of remembering and forgetting in some of these sonnets as reverse faces of the same coin. Using close reading it is intended to demonstrate how Shakespeare, through imagery and literary tropes, plays with the issues of mortality and immortality, and how he has reaffirmed that literature can provide a locus for perennial presence despite the temporariness of individuals’ existence.Keywords: forgetting, immortality, literature, remembering, Shakespeare, sonnet
Procedia PDF Downloads 356997 Levels of Plastic Waste and Fish Landed By Beach Seine Fishers in Coastal Ghana
Authors: Francis Gbogbo, Angelica Ama Essandoh, Wendy Teresa Baffoe, Henry Groos, Charles Mario Boateng, Emmanuel Robert Blankson
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Baseline data on plastic landing by fishers and monitoring of this is important in evaluating the success of plastic waste management efforts. This study investigated plastic and fish landed by beach seine fishers in Ghana, together with the rate of plastic deposition on an adjoining beach. Plastic constituted 31.6% of the total catch, and 41.7% of the fish landed by weight. There were significant differences between the average weight of fish (139.58±53.6kg) and plastic (65.73±14.6kg) landed per fishing session and the catch per unit effort of fish (183.4±76.7 kg/day) and plastic (88.4±35.2 kg/day). The mean weight of plastic landed per fishing session was higher than the mean weight of each of the 26 species of fisheries. The rate of plastic deposition on the beach was 8.1±2.5 plastic items per m2 per tidal cycle or 0.35±0.11kg plastic per m2 per tidal cycle, with food packs and tableware dominating the deposited plastic. The results suggested that ongoing water sachets and plastic bottle recycling in Ghana are yielding results and calls for targeted efforts in plastic food packs and tableware management.Keywords: fishig, landing, plastic waste, intertidal area, fishing effort
Procedia PDF Downloads 80996 The Role of Macroeconomic Condition and Volatility in Credit Risk: An Empirical Analysis of Credit Default Swap Index Spread on Structural Models in U.S. Market during Post-Crisis Period
Authors: Xu Wang
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This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty
Procedia PDF Downloads 160995 Low Cost Surface Electromyographic Signal Amplifier Based on Arduino Microcontroller
Authors: Igor Luiz Bernardes de Moura, Luan Carlos de Sena Monteiro Ozelim, Fabiano Araujo Soares
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The development of a low cost acquisition system of S-EMG signals which are reliable, comfortable for the user and with high mobility shows to be a relevant proposition in modern biomedical engineering scenario. In the study, the sampling capacity of the Arduino microcontroller Atmel Atmega328 with an A/D converter with 10-bit resolution and its reconstructing capability of a signal of surface electromyography are analyzed. An electronic circuit to capture the signal through two differential channels was designed, signals from Biceps Brachialis of a healthy man of 21 years was acquired to test the system prototype. ARV, MDF, MNF and RMS estimators were used to compare de acquired signals with physiological values. The Arduino was configured with a sampling frequency of 1.5 kHz for each channel, and the tests with the circuit designed offered a SNR of 20.57dB.Keywords: electromyography, Arduino, low-cost, atmel atmega328 microcontroller
Procedia PDF Downloads 358994 A Thermosensitive Polypeptide Hydrogel for Biomedical Application
Authors: Chih-Chi Cheng, Ji-Yu Lin, I-Ming Chu
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In this study, we synthesized a thermosensitive polypeptide hydrogel by copolymerizing poloxamer (PLX) and poly(ʟ-alanine) with ʟ-lysine segments at the both ends to form PLX-b-poly(ʟ-alanine-lysine) (Lys-Ala-PLX-Ala-Lys) copolymers. Poly(ʟ-alanine) is the hydrophobic chain of Lys-Ala-PLX-Ala-Lys copolymers which was designed to capture the hydrophobic agents. The synthesis was examined by 1H NMR and showed that Lys-Ala-PLX-Ala-Lys copolymers were successfully synthesized. At the concentration range of 3-7 wt%, the aqueous copolymer solution underwent sol-gel transition near the physiological temperature and exhibited changes in its secondary structure content, as evidenced by FTIR. The excellent viability of cells cultured within the scaffold was observed after 72 hr of incubation. Also, negatively charged bovine serum albumin was incorporated into the hydrogel without diminishing material integrity and shows good release profile. In the animal study, the results also indicated that Lys-Ala-PLX-Ala-Lys hydrogel has high potential in wound dressing.Keywords: polypeptide thermosensitive hydrogel, tacrolimus, vascularized composite allotransplantation, sustain release
Procedia PDF Downloads 284993 The Invisible Asset Influence on Corporate Performance: A Case Study
Authors: Hassan Medaghri Alaoui
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The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco
Procedia PDF Downloads 113992 Effect of Hydroxyl Functionalization on the Mechanical and Fracture Behaviour of Monolayer Graphene
Authors: Akarsh Verma, Avinash Parashar
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The aim of this article is to study the effects of hydroxyl functional group on the mechanical strength and fracture toughness of graphene. This functional group forms the backbone of intrinsic atomic structure of graphene oxide (GO). Molecular dynamics-based simulations were performed in conjunction with reactive force field (ReaxFF) parameters to capture the mode-I fracture toughness of hydroxyl functionalised graphene. Moreover, these simulations helped in concluding that spatial distribution and concentration of hydroxyl functional group significantly affects the fracture morphology of graphene nanosheet. In contrast to literature investigations, atomistic simulations predicted a transition in the failure morphology of hydroxyl functionalised graphene from brittle to ductile as a function of its spatial distribution on graphene sheet.Keywords: graphene, graphene oxide, ReaxFF, molecular dynamics
Procedia PDF Downloads 172991 Corporate Governance in Africa: A Review of Literature
Authors: Kisanga Arsene
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The abundant literature on corporate governance identifies four main objectives: the configuration of power within firms, control, conflict prevention and the equitable distribution of value created. The persistent dysfunctions in companies in developing countries in general and in African countries, in particular, show that these objectives are generally not achieved, which supports the idea of analyzing corporate governance practices in Africa. Indeed, the objective of this paper is to review the literature on corporate governance in Africa, to outline the specific practices and challenges of corporate governance in Africa and to identify reliable indicators and variables to capture corporate governance in Africa. In light of the existing literature, we argue that corporate governance in Africa can only be studied in the light of African realities and by taking into account the institutional environment. These studies show the existence of a divide between governance practices and the legislative and regulatory texts in force in the African context.Keywords: institutional environment, transparency, accountability, Africa
Procedia PDF Downloads 160990 High Efficiency Double-Band Printed Rectenna Model for Energy Harvesting
Authors: Rakelane A. Mendes, Sandro T. M. Goncalves, Raphaella L. R. Silva
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The concepts of energy harvesting and wireless energy transfer have been widely discussed in recent times. There are some ways to create autonomous systems for collecting ambient energy, such as solar, vibratory, thermal, electromagnetic, radiofrequency (RF), among others. In the case of the RF it is possible to collect up to 100 μW / cm². To collect and/or transfer energy in RF systems, a device called rectenna is used, which is defined by the junction of an antenna and a rectifier circuit. The rectenna presented in this work is resonant at the frequencies of 1.8 GHz and 2.45 GHz. Frequencies at 1.8 GHz band are e part of the GSM / LTE band. The GSM (Global System for Mobile Communication) is a frequency band of mobile telephony, it is also called second generation mobile networks (2G), it came to standardize mobile telephony in the world and was originally developed for voice traffic. LTE (Long Term Evolution) or fourth generation (4G) has emerged to meet the demand for wireless access to services such as Internet access, online games, VoIP and video conferencing. The 2.45 GHz frequency is part of the ISM (Instrumentation, Scientific and Medical) frequency band, this band is internationally reserved for industrial, scientific and medical development with no need for licensing, and its only restrictions are related to maximum power transfer and bandwidth, which must be kept within certain limits (in Brazil the bandwidth is 2.4 - 2.4835 GHz). The rectenna presented in this work was designed to present efficiency above 50% for an input power of -15 dBm. It is known that for wireless energy capture systems the signal power is very low and varies greatly, for this reason this ultra-low input power was chosen. The Rectenna was built using the low cost FR4 (Flame Resistant) substrate, the antenna selected is a microfita antenna, consisting of a Meandered dipole, and this one was optimized using the software CST Studio. This antenna has high efficiency, high gain and high directivity. Gain is the quality of an antenna in capturing more or less efficiently the signals transmitted by another antenna and/or station. Directivity is the quality that an antenna has to better capture energy in a certain direction. The rectifier circuit used has series topology and was optimized using Keysight's ADS software. The rectifier circuit is the most complex part of the rectenna, since it includes the diode, which is a non-linear component. The chosen diode is the Schottky diode SMS 7630, this presents low barrier voltage (between 135-240 mV) and a wider band compared to other types of diodes, and these attributes make it perfect for this type of application. In the rectifier circuit are also used inductor and capacitor, these are part of the input and output filters of the rectifier circuit. The inductor has the function of decreasing the dispersion effect on the efficiency of the rectifier circuit. The capacitor has the function of eliminating the AC component of the rectifier circuit and making the signal undulating.Keywords: dipole antenna, double-band, high efficiency, rectenna
Procedia PDF Downloads 113989 Community Participation of the Villagers: Corporate Social Responsibility Programme in Pantai Harapan Jaya Village, Bekasi Regency, West Java
Authors: Auliya Adzillatin Uzhma, Ismu Rini Dwi Ari, I. Nyoman Suluh Wijaya
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Corporate Social Responsibility (CSR) programme in Pantai Harapan Jaya village is cultivation of mangrove and fishery capital distribution, to achieve the goal the CSR programme needed participation from the society in it. Moeliono in Fahrudin (2011) mentioned that participation from society is based by intrinsic reason from inside people it self and extrinsic reason from the other who related to him or from connection with other people. The fundamental connection who caused more boundaries from action which the organization can do called the social structure. The purpose of this research is to know the form of public participation and the density of the villager and people who is participated in CSR programme. This research use Social Network Analysis method by knew the Rate of Participation and Density. The result of the research is people who is involved in the programme is lived in Dusun Pondok Dua and they work in fisheries field. Rate of Participation is 11,61 and that means people involved in 11 or 12 activites of CSR Programme. The rate of participation of CSR Programme is categorized as high rate participation. The density value from the participant is 0.516 it’s mean that 51.6% of the people that participated is involved in the same step of CSR programme.Keywords: community participation, social network analysis, corporate social responsibility, urban and regional studies
Procedia PDF Downloads 509988 Boosting Crime Scene Investigations Capabilities through Crime Script Analysis
Authors: Benoit Leclerc
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The concept of scripts and the role that crime scripts has been playing in criminology during the last decade is reviewed. Particularly illuminating is the potential use of scripts not only to understand and disrupt offender scripts (e.g., commonly referred as crime scripts) but to capture victim and guardian scripts to increase the likelihood of preventing crime. Similarly, the concept of scripts is applied to forensic science – another field that can benefit from script analysis. First, similar to guardian scripts, script analysis can illuminate the process of completing crime scene investigations for those who investigate (crime scene investigators or other professionals involved in crime scene investigations), and as a result, provide a range of intervention-points to improve the success of these investigations. Second, script analysis can also provide valuable information on offenders’ crime-commission processes for crime scene investigators and highlight a number of ‘contact points’ that could be targeted during investigations.Keywords: crime scripts, crime scene investigation, script analysis, situational crime prevention
Procedia PDF Downloads 269987 Component Lifecycle and Concurrency Model in Usage Control (UCON) System
Authors: P. Ghann, J. Shiguang, C. Zhou
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Access control is one of the most challenging issues facing information security. Access control is defined as, the ability to permit or deny access to a particular computational resource or digital information by an unauthorized user or subject. The concept of usage control (UCON) has been introduced as a unified approach to capture a number of extensions for access control models and systems. In UCON, an access decision is determined by three factors: Authorizations, obligations and conditions. Attribute mutability and decision continuity are two distinct characteristics introduced by UCON for the first time. An observation of UCON components indicates that, the components are predefined and static. In this paper, we propose a new and flexible model of usage control for the creation and elimination of some of these components; for example new objects, subjects, attributes and integrate these with the original UCON model. We also propose a model for concurrent usage scenarios in UCON.Keywords: access control, concurrency, digital container, usage control
Procedia PDF Downloads 315986 Genetic Diversity of Sorghum bicolor (L.) Moench Genotypes as Revealed by Microsatellite Markers
Authors: Maletsema Alina Mofokeng, Hussein Shimelis, Mark Laing, Pangirayi Tongoona
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Sorghum is one of the most important cereal crops grown for food, feed and bioenergy. Knowledge of genetic diversity is important for conservation of genetic resources and improvement of crop plants through breeding. The objective of this study was to assess the level of genetic diversity among sorghum genotypes using microsatellite markers. A total of 103 accessions of sorghum genotypes obtained from the Department of Agriculture, Forestry and Fisheries, the African Centre for Crop Improvement and Agricultural Research Council-Grain Crops Institute collections in South Africa were estimated using 30 microsatellite markers. For all the loci analysed, 306 polymorphic alleles were detected with a mean value of 6.4 per locus. The polymorphic information content had an average value of 0.50 with heterozygosity mean value of 0.55 suggesting an important genetic diversity within the sorghum genotypes used. The unweighted pair group method with arithmetic mean clustering based on Euclidian coefficients revealed two major distinct groups without allocating genotypes based on the source of collection or origin. The genotypes 4154.1.1.1, 2055.1.1.1, 4441.1.1.1, 4442.1.1.1, 4722.1.1.1, and 4606.1.1.1 were the most diverse. The sorghum genotypes with high genetic diversity could serve as important sources of novel alleles for breeding and strategic genetic conservation.Keywords: Genetic Diversity, Genotypes, Microsatellites, Sorghum
Procedia PDF Downloads 369