Search results for: investment efficiency

Authors: J. J. Vargas, N. Prieto, L. A. Toro

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Control charts are commonly used to monitor processes involving either variable or attribute of quality characteristics and determining the control limits as a critical task for quality engineers to improve the processes. Nonetheless, in some applications it is necessary to include an estimation of efficiency. In this paper, the ability to define the efficiency of an industrial process was added to a control chart by means of incorporating a data envelopment analysis (DEA) approach. In depth, a Bayesian estimation was performed to calculate the posterior probability distribution of parameters as means and variance and covariance matrix. This technique allows to analyse the data set without the need of using the hypothetical large sample implied in the problem and to be treated as an approximation to the finite sample distribution. A rejection simulation method was carried out to generate random variables from the parameter functions. Each resulting vector was used by stochastic DEA model during several cycles for establishing the distribution of each efficiency measures for each DMU (decision making units). A control limit was calculated with model obtained and if a condition of a low level efficiency of DMU is presented, system efficiency is out of control. In the efficiency calculated a global optimum was reached, which ensures model reliability.

Keywords: data envelopment analysis, DEA, Multivariate control chart, rejection simulation method

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Authors: Andra Blumberga, Uldis Bariss, Anna Kubule, Dagnija Blumberga

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European Union Energy Efficiency Directive provides a set of binding energy efficiency measures to reach. Each of the member states can use either energy efficiency obligation scheme or alternative policy measures or combination of both. Latvian government has decided to divide savings among obligation scheme (65%) and alternative measures (35%). This decision might lead to significant energy tariff increase hence impact on the national economy. To assess impact of alternative policy measures focusing on energy management scheme based on ISO 50001 and ability to decrease share of obligation scheme a System Dynamics modeling was used. Simulation results show that energy efficiency goal can be met with alternative policy measure to large energy consumers in industrial, tertiary and public sectors by applying the energy tax exemption for implementers of energy management system. A delay in applying alternative policy measures plays very important role in reaching the energy efficiency goal. One year delay in implementation of this policy measure reduces cumulative energy savings from 2016 to 2017 from 5200 GWh to 3000 GWh in 2020.

Keywords: system dynamics, energy efficiency, policy measure, energy management system, obligation scheme

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Authors: Fiyinfoluwa Giwa, Nicholas Ngepah

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This paper investigates the relationship between the Fourth Industrial Revolution and food security in South Africa. The Ordinary Least Square was adopted from 2012 Q1 to 2021 Q4. The study used artificial intelligence investment and the food production index as the measure for the fourth industrial revolution and food security, respectively. Findings reveal a significant and positive coefficient of 0.2887, signifying a robust statistical relationship between AI adoption and the food production index. As a policy recommendation, this paper recommends the introduction of incentives for farmers and agricultural enterprises to adopt AI technologies -and the expansion of digital connectivity and access to technology in rural areas.

Keywords: Fourth Industrial Revolution, food security, artificial intelligence investment, food production index, ordinary least square

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Authors: W. I. Mazyan, A. Ahmadi, M. Hoorfar

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Objectives/Scope: This paper proposes a mathematical model for calculating the solid-gas separation efficiency in cyclones. This model provides better agreement with experimental results compared to existing mathematical models. Methods: The separation ratio efficiency, ϵsp, is evaluated by calculating the outlet to inlet count ratio. Similar to mathematical derivations in the literature, the inlet and outlet particle count were evaluated based on Eulerian approach. The model also includes the external forces acting on the particle (i.e., centrifugal and drag forces). In addition, the proposed model evaluates the exact length that the particle travels inside the cyclone for the evaluation of number of turns inside the cyclone. The separation efficiency model derivation using Stoke’s law considers the effect of the inlet tangential velocity on the separation performance. In cyclones, the inlet velocity is a very important factor in determining the performance of the cyclone separation. Therefore, the proposed model provides accurate estimation of actual cyclone separation efficiency. Results/Observations/Conclusion: The separation ratio efficiency, ϵsp, is studied to evaluate the performance of the cyclone for particles ranging from 1 microns to 10 microns. The proposed model is compared with the results in the literature. It is shown that the proposed mathematical model indicates an error of 7% between its efficiency and the efficiency obtained from the experimental results for 1 micron particles. At the same time, the proposed model gives the user the flexibility to analyze the separation efficiency at different inlet velocities. Additive Information: The proposed model determines the separation efficiency accurately and could also be used to optimize the separation efficiency of cyclones at low cost through trial and error testing, through dimensional changes to enhance separation and through increasing the particle centrifugal forces. Ultimately, the proposed model provides a powerful tool to optimize and enhance existing cyclones at low cost.

Keywords: cyclone efficiency, solid-gas separation, mathematical model, models error comparison

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Authors: Veljko Jeremic, Milica Kostic Stankovic, Aleksandar Markovic, Milan Martic

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Evaluating the efficiency of decision making units has been frequently elaborated on in numerous publications. In this paper, the theoretical framework for a novel method of Distance Based Analysis (DBA) is presented. In addition, the method is performed on a sample of the ARWU’s top 54 Universities of the United States, the findings of which clearly demonstrate that the best ranked Universities are far from also being the most efficient.

Keywords: evaluating efficiency, distance based analysis, ranking of universities, ARWU

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Authors: Ernesto Ghini

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Workplace accidents are an unfortunate reality. However, they are also predictable and avoidable. We conducted research into a variety of legislation covering lone working, and conducted a study into the use of connected technology and how it can help improve the safety of lone workers in Latin America. We implemented quantitative research into regulations coupled with case study research into a real-life scenario that demonstrated the benefits of technology, and discuss our findings in this paper. Connected safety solutions can improve the bottom line, delivering significant return on investment in terms of improved efficiency and the avoidance of cost associated with worker injury. And, most importantly, such solutions, as demonstrated through our research, make the difference between life and death in time-critical incident situations.

Keywords: ione worker, legislation, technology, connected safety, connectivity

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Authors: Hlamulo Makelane

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The study aims at providing new insights regarding research and development (R&D) public and private activities based on the national R&D survey of the past five years. The main question of the study is what role does water R&D plays on water security; to then analyze what lessons could be extracted to improve the security of water through R&D. In particular, this work concentrates on three main aspects of R&D investments: (i) the level of expenditures, (ii) the sources of funding related to water R&D, and (iii) the personnel working in the field, both for the public and private sectors. The nonlinear regression approached will be used for data analysis based on secondary data gathered from the South African nation R&D survey conducted annually by the Centre for science, technology and innovation indicators (CeSTII).

Keywords: water, R&D, investment, public sector, private sector

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Authors: Miran Sabah Ibrahim, Nahit Aktas

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The utilization of emulsifiers is highly important in the process of breaking emulsions. This examination employed five commercial demulsifiers in various temperatures for evaluating the separation efficiency. Furthermore, two different crude oils (Khurmala and Demir Dagh crude oil) were utilized for preparing emulsion. The outcomes revealed that the application commercial demulsifiers for Khurmala crude oil at 55°C and 100 ppm (KD-3100, KD-3200, FD-6144, FD-6210 and RI35Q) the separation efficiency were (78, 80.6, 78, 86 and 90 %) respectively. However, at 65 °C and 100 ppm (KD-3100, KD-3200, FD-6144, FD-6210 and RI35Q) separation efficiency were (87, 85, 91.3, 94 and 97 %) respectively. Nonetheless, utilizing Demir Dagh crude oil at 55 °C and 100 ppm (KD-3100, KD-3200, FD-6144, FD-6210 and RI35Q) resulted in the separation efficiency of (63.3, 66.6, 65, 73 and 76.6 %) respectively, and at 65 °C and 100 ppm (KD-3100, KD-3200, FD-6144, FD-6210 and RI35Q) were (77, 76.6, 80, 82 and 85 %) respectively. The combinations of FD-6144 and RI35Q at 55°C and ratio of (1:1) and (1:3) for Khurmala crude oil led to (96 and 90.6 %) efficiency respectively. However, the efficiency decreased to (98.6 and 93.3 %) respectively at 65 °C. The same combinations applied on Demir Dagh Crude oil and the results were (78 and 63.3 %) at 55 °C and (86.6 and 71 %) at 65 °C. Three different brine concentrations (NaCl) (0.5, 2 and 3.5 %) were prepared and utilized. It was found that the optimum NaCl concentration was at 3.5 % NaCl concentration for both khurmala and Demir dagh crude oil at 55 °C and 65 °C.

Keywords: demulsifier, emulsion, breaking emulsion, emulsifying agent (surfactant)

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Authors: S. P. Singh, Priya, Komal Sajwan

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With the increasing spread of organic farming in India, costs, returns, efficiency, and social and environmental sustainability of organic vis-a-vis conventional farming systems have become topics of interest among agriculture scientists, economists, and policy analysts. A study on technical efficiency estimation under these farming systems, particularly in the Ganga River Basin, where the promotion of organic farming is incentivized, can help to understand whether the inputs are utilized to their maximum possible level and what measures can be taken to improve the efficiency. This paper, therefore, analyses the technical efficiency of wheat farms operating under organic and conventional farming systems. The study is based on a primary survey of 600 farms (300 organic ad 300 conventional) conducted in 2021 in two districts located in the Middle Ganga River Basin, India. Technical, managerial, and scale efficiencies of individual farms are estimated by applying the data envelopment analysis (DEA) methodology. The per hectare value of wheat production is taken as an output variable, and values of seeds, human labour, machine cost, plant nutrients, farm yard manure (FYM), plant protection, and irrigation charges are considered input variables for estimating the farm-level efficiencies. The post-DEA analysis is conducted using the Tobit regression model to know the efficiency determining factors. The results show that technical efficiency is significantly higher in conventional than organic farming systems due to a higher gap in scale efficiency than managerial efficiency. Further, 9.8% conventional and only 1.0% organic farms are found operating at the most productive scale size (MPSS), and 99% organic and 81% conventional farms at IRS. Organic farms perform well in managerial efficiency, but their technical efficiency is lower than conventional farms, mainly due to their relatively lower scale size. The paper suggests that technical efficiency in organic wheat can be increased by upscaling the farm size by incentivizing group/collective farming in clusters.

Keywords: organic, conventional, technical efficiency, determinants, DEA, Tobit regression

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Authors: Sumit Tiwari, Rohit Tripathi, G. N. Tiwari

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Present study focused on the utilization of solar energy by the help of photovoltaic greenhouse solar dryer under forced mode. A single slope photovoltaic greenhouse solar dryer has been proposed and thermal modelling has been developed. Various parameters have been calculated by thermal modelling such as greenhouse room temperature, cell temperature, crop temperature and air temperature at exit of greenhouse. Further cell efficiency, thermal efficiency, and overall thermal efficiency have been calculated for a typical day of May and November. It was found that system can generate equivalent thermal energy up to 7.65 kW and 6.66 kW per day for clear day of May and November respectively.

Keywords: characteristics curve, photovoltaic, thermal modelling, thermal efficiency

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Authors: Jafaru Ibrahim, Tonga Agadi Danladi, Haruna Sani

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Many telecommunications industry are looking for new ways to maximize their investment in communication networks while ensuring reliable and secure information transmission. There is a variety of communications medium solutions, the two must popularly in used are wireless technology and wired options, such as copper and fiber-optic cable. Wired network has proven its potential in the olden days but nowadays wireless communication has emerged as a robust and most intellect and preferred communication technique. Each of these types of communication medium has their advantages and disadvantages according to its technological characteristics. Wired and wireless networking has different hardware requirements, ranges, mobility, reliability and benefits. The aim of the paper is to compare both the Wired and Wireless medium on the basis of various parameters such as usability, cost, efficiency, flexibility, coverage, reliability, mobility, speed, security etc.

Keywords: cost, mobility, reliability, speed, security, wired, wireless

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Authors: John Dorrell, Matthew Ambrosia, Abilash

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This paper employs econometric analysis to quantify the potential profit wind farms can receive by allocating excess wind energy to power bitcoin mining machines. Cryptocurrency mining consumes a substantial amount of electricity worldwide, and wind energy produces a significant amount of energy that is lost because of the intermittent nature of the resource. Supply does not always match consumer demand. By combining the weaknesses of these two technologies, we can improve efficiency and a sustainable path to mine cryptocurrencies. This paper uses historical wind energy from the ERCOT network in Texas and cryptocurrency data from 2000-2021, to create 4-year return on investment projections. Our research model incorporates the price of bitcoin, the price of the miner, the hash rate of the miner relative to the network hash rate, the block reward, the bitcoin transaction fees awarded to the miners, the mining pool fees, the cost of the electricity and the percentage of time the miner will be running to demonstrate that wind farms generate enough excess energy to mine bitcoin profitably. Excess wind energy can be used as a financial battery, which can utilize wasted electricity by changing it into economic energy. The findings of our research determine that wind energy producers can earn profit while not taking away much if any, electricity from the grid. According to our results, Bitcoin mining could give as much as 1347% and 805% return on investment with the starting dates of November 1, 2021, and November 1, 2022, respectively, using wind farm curtailment. This paper is helpful to policymakers and investors in determining efficient and sustainable ways to power our economic future. This paper proposes a practical solution for the problem of crypto mining energy consumption and creates a more sustainable energy future for Bitcoin.

Keywords: bitcoin, mining, economics, energy

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Authors: Loujaina Abdelwahed

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Debt relief granted to low-and middle-income countries effectively provides additional funds for governments that can be used to increase public investment on poverty-reducing services to alleviate poverty and boost economic growth. However, little is known about the extent to which the poor benefit from the increased public investment. This study aims to assess the impact of debt relief granted through multiple initiatives during the 1990s on poverty reduction. In particular, it assesses the impact on the level, depth and severity of poverty in 76 low-and middle income countries over the period 1990-2011. Debt relief is found to have a significant impact on reducing the level, the depth and the severity of poverty. Analysis of the different types of debt relief reveals that debt service relief reduces poverty, whereas debt principle relief does not have a significant impact.

Keywords: debt relief, developing countries, HIPC, poverty, system GMM estimator

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Authors: M. Sai Veerendra

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Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project on developing a new data mining solution for AML Units in an international investment bank in Ireland, we survey recent data mining approaches for AML. In this paper, we present not only these approaches but also give an overview on the important factors in building data mining solutions for AML activities.

Keywords: data mining, clustering, money laundering, anti-money laundering solutions

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Authors: Patel Himeshkumar Ashokbhai, Suchit Sharma, Arvind Kumar Garg

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The purpose of this paper is to study the effect of change in feed rate on grinding circuit and cyclone efficiency in case of lead-zinc ore. The following experiments and analysis were conducted on beneficiation circuit of Sindesar Khurd (SK) mines under Hindustan Zinc Ltd. subsidiary of Vedanta Group of Companies, a leading producer of lead-Zinc, silver and cadmium (as by products) in India. Feed rate is an important variable in beneficiation circuit operation. Optimizing feed rate is indispensable for any grinding circuit and directly effects cyclone efficiency. The size analysis of ore in grinding circuit along with cyclone efficiency on varying feed rates establishes their interdependence. Feed rate determines retention time ore gets within grinding circuit. Retention time in turn determines degree of liberation of mineral. Inadequate liberation causes decreased circuit efficiency. In this paper we have studied the effect of varying feed rate on (1) D80 particle size of different sections of different streams of grinding circuit (2) Re-circulating load (3) Cyclone efficiency. As a conclusion, this study gives some clues to operate grinding circuits and hydro-cyclones in more efficient way regarding beneficiation of Lead-zinc ore.

Keywords: cyclone efficiency, feed rate, grinding circuit, re-circulating load

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Authors: Abbas Al-Refaie, Ruba Najdawi, Nour Bata, Mohammad D. AL-Tahat

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The pharmaceutical industry is an important component of health care systems throughout the world. Measurement of a production unit-performance is crucial in determining whether it has achieved its objectives or not. This paper applies data envelopment (DEA) window analysis to assess the efficiencies of two packaging lines; Allfill (new) and DP6, in the Penicillin plant in a Jordanian Medical Company in 2010. The CCR and BCC models are used to estimate the technical efficiency, pure technical efficiency, and scale efficiency. Further, the Malmquist productivity index is computed to measure then employed to assess productivity growth relative to a reference technology. Two primary issues are addressed in computation of Malmquist indices of productivity growth. The first issue is the measurement of productivity change over the period, while the second is to decompose changes in productivity into what are generally referred to as a ‘catching-up’ effect (efficiency change) and a ‘frontier shift’ effect (technological change). Results showed that DP6 line outperforms the Allfill in technical and pure technical efficiency. However, the Allfill line outperforms DP6 line in scale efficiency. The obtained efficiency values can guide production managers in taking effective decisions related to operation, management, and plant size. Moreover, both machines exhibit a clear fluctuations in technological change, which is the main reason for the positive total factor productivity change. That is, installing a new Allfill production line can be of great benefit to increasing productivity. In conclusions, the DEA window analysis combined with the Malmquist index are supportive measures in assessing efficiency and productivity in pharmaceutical industry.

Keywords: window analysis, malmquist index, efficiency, productivity

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Authors: E. Bal Beşikçi, O. Arslan

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Fuel saving has become one of the most important issue for shipping in terms of fuel economy and environmental impact. Lowering fuel consumption is possible for both new ships and existing ships through enhanced energy efficiency measures, technical and operational respectively. The limitations of applying technical measures due to the long payback duration raise the potential of operational changes for energy efficient ship operations. This study identifies operational energy efficiency measures related voyage performance management. We use ‘noon’ data to examine the correlation between fuel consumption and operational parameters- revolutions per minute (RPM), draft, trim, (beaufort number) BN and relative wind direction, which are used as measures of ship energy efficiency. The results of this study reveal that speed optimization is the most efficient method as fuel consumption depends heavily on RPM. In conclusion, this study will provide ship operators with the strategic approach for evaluating the priority of the operational energy efficiency measures against high fuel prices and carbon emissions.

Keywords: ship, voyage related operational energy Efficiency measures, fuel consumption, pearson's correlation coefficient

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Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

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Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost in a timely manner. In such cases, refinancing could be a solution to benefit from the long-term returns of the project if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. To fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help implementing financially viable energy efficiency projects, so the community could benefit from their environmental advantages widely.

Keywords: energy efficiency projects, leveraged loan, refinancing, sustainability

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Authors: Zhao Tianxu, Cui Shumei

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This paper proposes a novel multiphase motor structure. The armature winding consists of several independent multiphase windings that have different rating rotate speed and power. Compared to conventional motor, the novel motor structure has more operation mode and fault tolerance mode, which makes it adapt to high-reliability requirement situation such as electric vehicle, aircraft and ship. Performance of novel motor structure varies with winding match. In order to find optimum control strategy, motor torque character, efficiency performance and fault tolerance ability under different operation mode are analyzed in this paper, and torque distribution strategy for efficiency optimization is proposed. Simulation analyze is taken and the result shows that proposed structure has the same efficiency on heavy load and higher efficiency on light load operation points, which expands high efficiency area of motor and cruise range of vehicle. The proposed structure can improve motor highest speed.

Keywords: multiphase motor, armature winding match, torque distribution strategy, efficiency

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Authors: Yeliz Mert Kantar, İsmail Yeni̇lmez, Ibrahim Arik

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In this study, the efficiency measurement of the top fifty Turkish Universities has been conducted. The top fifty Turkish Universities are listed by The Scientific and Technological Research Council of Turkey (TÜBITAK) according to the Entrepreneur and Innovative University Index every year. The index is calculated based on four components since 2018. Four components are scientific and technological research competency, intellectual property pool, cooperation and interaction, and economic and social contribution. The four components consist of twenty-three sub-components. The 2021 list announced in January 2022 is discussed in this study. Efficiency analysis have been carried out using the Stochastic Frontier Model. Statistical significance of the sub-components that make up the index with certain weights has been examined in terms of the efficiency measurement calculated through the Stochastic Frontier Model. The relationship between the efficiency ranking estimated based on the Stochastic Frontier Model and the Entrepreneur and Innovative University Index ranking is discussed in detail.

Keywords: efficiency, entrepreneur and innovative universities, turkish universities, stochastic frontier model, tübi̇tak

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Authors: Chen Yuan, Nick Green, Stuart Blackburn

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The investment casting process offers a great freedom of design combined with the economic advantage of near net shape manufacturing. It is widely used for the production of high value precision cast parts in particularly in the aerospace sector. Various combinations of materials have been used to produce the ceramic moulds, but most investment foundries use a silica based binder system in conjunction with fused silica, zircon, and alumino-silicate refractories as both filler and coarse stucco materials. However, in the context of advancing alloy technologies, silica based systems are struggling to keep pace, especially when net-shape casting titanium alloys. Study has shown that the casting of titanium based alloys presents considerable problems, including the extensive interactions between the metal and refractory, and the majority of metal-mould interaction is due to reduction of silica, present as binder and filler phases, by titanium in the molten state. Cleaner, more refractory systems are being devised to accommodate these changes. Although yttria has excellent chemical inertness to titanium alloy, it is not very practical in a production environment combining high material cost, short slurry life, and poor sintering properties. There needs to be a cost effective solution to these issues. With limited options for using pure oxides, in this work, a silica-free magnesia spinel MgAl₂O₄ was used as a primary coat filler and alumina as a binder material to produce facecoat in the investment casting mould. A comparison system was also studied with a fraction of the rare earth oxide Y₂O₃ adding into the filler to increase the inertness. The stability of the MgAl₂O₄/Al₂O₃ and MgAl₂O₄/Y₂O₃/Al₂O₃ slurries was assessed by tests, including pH, viscosity, zeta-potential and plate weight measurement, and mould properties such as friability were also measured. The interaction between the face coat and titanium alloy was studied by both a flash re-melting technique and a centrifugal investment casting method. The interaction products between metal and mould were characterized using x-ray diffraction (XRD), scanning electron microscopy (SEM) and Energy Dispersive X-Ray Spectroscopy (EDS). The depth of the oxygen hardened layer was evaluated by micro hardness measurement. Results reveal that introducing a fraction of Y₂O₃ into magnesia spinel can significantly increase the slurry life and reduce the thickness of hardened layer during centrifugal casting.

Keywords: titanium alloy, mould, MgAl₂O₄, Y₂O₃, interaction, investment casting

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Authors: Ismatilla Mardanov

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There are three types of countries, the first of which is willing to attract foreign direct investment (FDI) in enormous amounts and do whatever it takes to make this happen. Therefore, FDI pours into such countries. In the second cluster of countries, even if the country is suffering tremendously from the shortage of investments, the governments are hesitant to attract investments because they are at the hands of local oligarchs/cartels. Therefore, FDI inflows are moderate to low in such countries. The third type is countries whose companies prefer investing in the most efficient locations globally and are hesitant to invest in the homeland. Sorting countries into such clusters, the present study examines the essential institutions and economic factors that make these countries different. Past literature has discussed various determinants of FDI in all kinds of countries. However, it did not classify countries based on government motivation, institutional setup, and economic factors. A specific approach to each target country is vital for corporate foreign direct investment risk analysis and decisions. The research questions are 1. What specific institutional and economic factors paint the pictures of the three clusters; 2. What specific institutional and economic factors are determinants of FDI; 3. Which of the determinants are endogenous and exogenous variables? 4. How can institutions and economic and political variables impact corporate investment decisions Hypothesis 1: In the first type, country institutions and economic factors will be favorable for FDI. Hypothesis 2: In the second type, even if country economic factors favor FDI, institutions will not. Hypothesis 3: In the third type, even if country institutions favorFDI, economic factors will not favor domestic investments. Therefore, FDI outflows occur in large amounts. Methods: Data come from open sources of the World Bank, the Fraser Institute, the Heritage Foundation, and other reliable sources. The dependent variable is FDI inflows. The independent variables are institutions (economic and political freedom indices) and economic factors (natural, material, and labor resources, government consumption, infrastructure, minimum wage, education, unemployment, tax rates, consumer price index, inflation, and others), the endogeneity or exogeneity of which are tested in the instrumental variable estimation. Political rights and civil liberties are used as instrumental variables. Results indicate that in the first type, both country institutions and economic factors, specifically labor and logistics/infrastructure/energy intensity, are favorable for potential investors. In the second category of countries, the risk of loss of assets is very high due to governmentshijacked by local oligarchs/cartels/special interest groups. In the third category of countries, the local economic factors are unfavorable for domestic investment even if the institutions are well acceptable. Cluster analysis and instrumental variable estimation were used to reveal cause-effect patterns in each of the clusters.

Keywords: foreign direct investment, economy, institutions, instrumental variable estimation

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Authors: Roshan Jelal, Charles Mbohwa

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In today’s world, internal fraud remains one of the most challenging problems within companies worldwide and despite investment in controls and attention given to the problem, the instances of internal fraud has not abated. To the contrary it appears that internal fraud is on the rise especially in the wake of the economic downturn. Leadership within companies believes that the more sophisticated the controls employed the less likely it would be for employees to pilfer. This is a very antiquated view as investment in controls may not be enough to curtail internal fraud; however, ensuring that a company drives the correct culture and behaviour within the organisation is likely to yield desired results. This research aims to understand how creating a strong ethical culture and embedding the principle of good corporate governance impacts on levels of internal fraud with an organization (a South African Bank).

Keywords: internal fraud, corporate governance, ethics, reserve bank, the King Code

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Authors: Yongsheng Guo, Shuchao Li

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This study explores Chinese foreign direct investment (FDI) in Europe and the cross-cultural cooperation between Chinese and European managers. The aim of this research is to shed light on the phenomenon of investments in developed countries from an emerging market and to gain insights into the cooperation process. A grounded theory approach is adopted, and 46 semi-structured interviews were conducted with 10 case companies in Germany and 13 case companies in the UK. Grounded theory models are developed from primary data and interview quotes are used to support the themes. The interviewees perceived differences between the two parties in cultural traits, management concepts, knowledge structure and resource endowment between the two parties. Chinese and European partners can take advantage of different resources and cooperate in innovative ways to improve corporate performance. Moreover, both parties appreciate different ethical and cultural characteristics and complement each other to develop a combined organizational culture. This study proposes an ethical and cultural diversity theory in international management arguing that a team with diversified values and behaviors may be more excited and motivated. This study suggests that “resource complement” and “cross-cultural cooperation” might be an advantage for international investment. Firms are encouraged to open their minds and cooperate with partners with different resources and cultures. The authorities may review the FDI policies to reduce social and political barriers.

Keywords: cross-culture, FDI, cooperation, innovation, China, Europe

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Authors: Masato Sasaki, Masayoshi Yamamoto

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The majority of wireless power transfer (WPT) systems transfer power in a directional manner. This paper describes a discrete exciting voltage control technique for WPT via magnetic resonant coupling with two orthogonal transmitter coils (2D omni-directional WPT system) which can maximize the power transfer efficiency in response to the change of coupling status. The theory allows the equations of the efficiency of the system to be determined at all the rate of the mutual inductance. The calculated results are included to confirm the advantage to one directional WPT system and the validity of the theory and the equations.

Keywords: wireless power transfer, omni-directional, orthogonal, efficiency

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Authors: Ese Urhie, Olabisi Popoola, Obindah Gershon, Olabanji Ewetan

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Modern agriculture involves the use of improved tools and equipment (instead of crude and ineffective tools) like tractors, hand operated planters, hand operated fertilizer drills and combined harvesters - which increase agricultural productivity. Farmers in Nigeria still have huge potentials to enhance their productivity. The study argues that the increase in agricultural output due to increased productivity, orchestrated by modern agriculture will promote forward linkages and opportunities in the processing sub-sector; both the manufacturing of machines and the processing of raw materials. Depending on existing incentives, foreign investment could be attracted to augment local investment in the sector. The availability of raw materials in large quantity – which prices are competitive – will attract investment in other industries. In addition, potentials for backward linkages will also be created. In a nutshell, adopting the unbalanced growth theory in favour of the agricultural sector could engender industrialization in a country with untapped potentials. The paper highlights the numerous potentials of modern agriculture that are yet to be tapped in Nigeria and also provides a theoretical analysis of how the realization of such potentials could promote industrialization in the country. The study adopts the Lewis’ theory of structural–change model and Hirschman’s theory of unbalanced growth in the design of the analytical framework. The framework will be useful in empirical studies that will guide policy formulation.

Keywords: modern agriculture, industrialization, structural change model, unbalanced growth

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Authors: Sue-Yi Chen, Wei-Chun Hsu, Jon-Yiew Gan

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Si-based double-junction tandem solar cells have become a popular research topic because of the advantages of low manufacturing cost and high energy conversion efficiency. However, there is no set of calculations to select the appropriate top cell materials. Therefore, this paper will propose a simple but practical selection method. First of all, we calculate the S-Q limit and explain the reasons for developing tandem solar cells. Secondly, we calculate the theoretical energy conversion efficiency of the double-junction tandem solar cells while combining the commercial monocrystalline Si and materials' practical efficiency to consider the actual situation. Finally, we conservatively conclude that if considering 75% performance of the theoretical energy conversion efficiency of the top cell, the suitable bandgap energy range will fall between 1.38eV to 2.5eV. Besides, we also briefly describe some improvements of several proper materials, CZTS, CdSe, Cu2O, ZnTe, and CdS, hoping that future research can select and manufacture high-efficiency Si-based tandem solar cells based on this paper successfully. Most importantly, our calculation method is not limited to silicon solely. If other materials’ performances match or surpass silicon's ability in the future, researchers can also apply this set of deduction processes.

Keywords: high-efficiency solar cells, material selection, Si-based double-junction solar cells, Tandem solar cells, photovoltaics.

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Authors: Arsenio Jose Mindu

Abstract:

The concern to carry out a study related to Energy Efficiency arose based on the various debates in international television networks and not only, but also in several forums of national debates. The concept of Energy Efficiency is not yet widely disseminated and /or taken into account in terms of energy consumption, not only at the domestic level but also at the industrial level in Mozambique. In the context of the energy audit, the time during which each of the appliances is connected to the voltage source, the time during which they are in standby mode was recorded on a spreadsheet basis. Based on these data, daily and monthly consumption was calculated. In order to have more accurate information on the daily levels of daily consumption, the electricity consumption was read every hour of the day (from 5:00 am to 11:00 pm), since after 23:00 the energy consumption remains constant. For ten days. Based on the daily energy consumption and the maximum consumption power, the design of the photovoltaic system for the residence was made. With the implementation of the photovoltaic system in order to guarantee energy efficiency, there was a significant reduction in the use of electricity from the public grid, increasing from approximately 17 kwh per day to around 11 kwh, thus achieving an energy efficiency of 67.4 %. That is to say, there was a reduction not only in terms of the amount of energy consumed but also of the monthly expenses with electricity, having increased from around 2,500,00Mt (2,500 meticais) to around 800Mt per month.

Keywords: energy efficiency, photovoltaic system, residential sector, Mozambique

Procedia PDF Downloads 196

Authors: Farhad Nouparast

Abstract:

For more production we need more capital formation. Capital formation in each country should be based on comparative advantages in different economic sectors due to the different production possibility curves. In regional planning, recognizing the relative advantages and consequently investing in more production requires identifying areas with the necessary capabilities and location of each region compared to other regions. In this article, ranking of Iran's provinces is done according to the specific and given variables as the best investment position in agricultural activity. So we can provide the necessary background for investment analysis in different regions of the country to formulate national and regional planning and execute investment projects. It is used factor analysis technique and numerical taxonomy analysis to do this in thisarticle. At first, the provinces are homogenized and graded according to the variables using cross-sectional data obtained from the agricultural census and population and housing census of Iran as data matrix. The results show that which provinces have the most potential for capital formation in agronomy sub-sector. Taxonomy classifies organisms based on similar genetic traits in biology and botany. Numerical taxonomy using quantitative methods controls large amounts of information and get the number of samples and categories and take them based on inherent characteristics and differences indirectly accommodates. Numerical taxonomy is related to multivariate statistics.

Keywords: Capital Formation, Factor Analysis, Multivariate statistics, Numerical Taxonomy Analysis, Production, Ranking, Spatial Planning

Procedia PDF Downloads 128

Authors: Jyotsna Rosario, K. R. Shanmugam

Abstract:

Since elementary education is a merit good, considerable public resources are allocated to universalise it. However, elementary education outcomes vary across the Indian States. Evidences indicate that while some states are lagging in elementary education outcome primarily due to lack of resources and poor schooling infrastructure, others are lagging despite resource abundance and well-developed schooling infrastructure. Addressing the issue of efficiency, the study employs Stochastic Frontier Analysis for panel data of 27 Indian states from 2012-13 to 2017-18 to estimate the technical efficiency of State governments in generating enrolment. The mean efficiency of states was estimated to be 58%. Punjab, Meghalaya, and West Bengal were found to be the most efficient states. Whereas Jammu and Kashmir, Nagaland, Madhya Pradesh, and Odisha are one of the most inefficient states. This study emphasizes the efficient utilisation of public resources and helps in the identification of best practices.

Keywords: technical efficiency, public expenditure, elementary education outcome, stochastic frontier analysis

Procedia PDF Downloads 172