Search results for: nitrogen content and stock

Authors: Oscar Javier Herrera, Manuel Angel Camacho

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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors’. The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.

Keywords: demand forecasting, empirical distribution, propagation of error, Bogota

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Authors: Rahul Thakur, Onkar Chandel

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Red Hat is the world leader in providing open source software and solutions. A global enterprise, like Red Hat, has unique issues of connecting employees with content because of distributed offices, multiple teams spread across geographies, multiple languages, and different cultures. Employees, of a global company, create content that is distributed across departments, teams, regions, and countries. This makes finding the best content difficult since owners keep iterating on the existing content. When employees are unable to find the content, they end up creating it once again and in the process duplicating existing material and effort. Also, employees may not find the relevant content and spend time reviewing obsolete duplicate, or irrelevant content. On an average, a person spends 15 minutes/day in failed searches that might result in missed business opportunities, employee frustration, and substandard deliverables. Red Hat Knowledge Management Office (KMO) applied 'open source strategy' to solve the above problems. Under the Open Source Strategy, decisions are taken collectively. The strategy aims at accomplishing common goals with the help of communities. The objectives of this initiative were to save employees' time, get them authentic content, improve their content search experience, avoid duplicate content creation, provide context based search, improve analytics, improve content management workflows, automate content classification, and automate content upload. This session will describe open source strategy, its applicability in content management, challenges, recommended solutions, and outcome.

Keywords: content classification, content management, knowledge management, open source

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Authors: K. Boonlertnirun, C. Rawdsiri, R. Suvannasara, S. Boonlertnirun

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Thein corn variety well adapted to several planting conditions is usually accepted by most farmers. The objectives of this work were to evaluate yield potential of Thein corn inbred line grown in various nitrogen rates and plant conditions for selecting good inbred lines to be germ plasm for further breeding program. Split plot design with three replications was utilized as experimental design, three planting conditions: normal (control), low nitrogen, and high plant density condition, and sixteen inbred lines of Thein corn were used as main and subplot respectively. The results showed that no interaction between inbred line and planting condition in terms of yield. Correlation between planting conditions based on yield of inbred line was positive at medium level. Thein corn inbreds, namely L7, L5, L16, and L14 lines were tolerant to low nitrogen condition because they could produce high yield under all planting conditions and they were selected to be germ plasm for further breeding program.

Keywords: inbred line, planting condition, Thein corn, planting conditions

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Authors: Swati Tomar, Sunil Kumar Gupta

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The start-up of anammox (anaerobic ammonium oxidation) process in hybrid reactor delineated four distinct phases i.e. cell lysis, lag phase, activity elevation and stationary phase. Cell lysis phase was marked by death and decay of heterotrophic denitrifiers resulting in breakdown of organic nitrogen into ammonium. Lag phase showed initiation of anammox activity with turnover of heterotrophic denitrifiers, which is evident from appearance of NO3-N in the effluent. In activity elevation phase, anammox became the dominant reaction, which can be attributed to consequent reduction of NH4-N into N2 with increased NO3-N in the effluent. Proper selection of mixed seed culture at influent NO2-/NH4+ ratio (1:1) and hydraulic retention time (HRT) of 1 day led to early startup of anammox within 70 days. Pseudo steady state removal efficiencies of NH4+ and NO2- were found as 94.3% and 96.4% respectively, at nitrogen loading rate (NLR) of 0.35 kg N/m3d at an HRT of 1 day. Analysis of the data indicated that attached growth system contributes an additional 11% increase in the ammonium removal and results in an average of 29% reduction in sludge washout rate. Mass balance study of nitrogen indicated that 74.1% of total input nitrogen is converted into N2 gas followed by 11.2% being utilized in biomass development. Scanning electron microscope (SEM) observation of the granular sludge clearly showed the presence of cocci and rod shaped microorganisms intermingled on the external surface of the granules. The average size of anammox granules (1.2-1.5 mm) with an average settling velocity of 45.6 m/h indicated a high degree of granulation resulting into formation of well compacted granules in the anammox process.

Keywords: anammox, hybrid reactor, startup, granulation, nitrogen removal, mixed seed culture

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Authors: Aristeidis Samitas, Evangelos Vasileiou

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The aim of this study is to examine the month and the trading month effect under changing financial trends. We choose the Greek stock market to implement our assumption because there are clear and long term periods of financial growth and recession. Daily financial data from Athens Exchange General Index for the period 2002-2012 are considered. The paper employs several linear and non-linear models, although the TGARCH asymmetry model best fits in this sample and for this reason we mainly present the TGARCH results. Empirical results show that changing economic and financial conditions influences the calendar effects. Especially, the trading month effect totally changes in each fortnight according to the financial trend. On the other hand, in Greece the January effect exists during the growth periods, although it does not exist when the financial trend changes. The findings are helpful to anybody who invest and deals with the Greek stock market. Moreover, they may pave the way for an alternative calendar anomalies research approach, so it may be useful to investors who take into account these anomalies when they draw their investment strategy.

Keywords: month effect, trading month effect, economic cycles, crisis

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Authors: Bivek Bhusal, Ana Legrand

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Detection of crop stress is one of the major applications of remote sensing in agriculture. Multiple studies have demonstrated the capability of remote sensing using Unmanned Aerial Vehicle (UAV)-based multispectral imagery for detection of plant stress, but none so far on Nitrogen (N) stress and PLH feeding stress on green beans. In view of its wide host range, geographical distribution, and damage potential, Potato leafhopper- Empoasca fabae (Harris) has been emerging as a key pest in several countries. Monitoring methods for potato leafhopper (PLH) damage, as well as the laboratory techniques for detecting Nitrogen deficiency, are time-consuming and not always easily affordable. A study was initiated to demonstrate if the multispectral sensor attached to a drone can detect PLH stress and N deficiency in beans. Small-plot trials were conducted in the summer of 2023, where cages were used to manipulate PLH infestation in green beans (Provider cultivar) at their first-trifoliate stage. Half of the bean plots were introduced with PLH, and the others were kept insect-free. Half of these plots were grown with the recommended amount of N, and the others were grown without N. Canopy reflectance was captured using a five-band multispectral sensor. Our findings indicate that drone imagery could detect stress due to a lack of N and PLH damage in beans.

Keywords: potato leafhopper, nitrogen, remote sensing, spectral reflectance, beans

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Authors: Guillaume Craveur

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This study shows the opportunity to use numerical tools dedicated to Fire Safety Engineering for the Rolling Stock. Indeed, some lawful requirements can now be demonstrated by using numerical tools. The first part of this study presents the use of modelling evacuation tool to satisfy the criteria of evacuation time for the rolling stock. The buildingEXODUS software is used to model and simulate the evacuation of rolling stock. Firstly, in order to demonstrate the reliability of this tool to calculate the complete evacuation time, a comparative study was achieved between a real test and simulations done with buildingEXODUS. Multiple simulations are performed to capture the stochastic variations in egress times. Then, a new study is done to calculate the complete evacuation time of a train with the same geometry but with a different interior architecture. The second part of this study shows some applications of Computational Fluid Dynamics. This work presents the approach of a multi scales validation of numerical simulations of standardized tests with Fire Dynamics Simulations software developed by the National Institute of Standards and Technology (NIST). This work highlights in first the cone calorimeter test, described in the standard ISO 5660, in order to characterize the fire reaction of materials. The aim of this process is to readjust measurement results from the cone calorimeter test in order to create a data set usable at the seat scale. In the second step, the modelisation concerns the fire seat test described in the standard EN 45545-2. The data set obtained thanks to the validation of the cone calorimeter test was set up in the fire seat test. To conclude with the third step, after controlled the data obtained for the seat from the cone calorimeter test, a larger scale simulation with a real part of train is achieved.

Keywords: fire safety engineering, numerical tools, rolling stock, multi-scales validation

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Authors: Hamid Rostami Jaz, Kamran Ameri Siahooei

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Up to now different methods have been used to forecast the index returns and the index rate. Artificial intelligence and artificial neural networks have been one of the methods of index returns forecasting. This study attempts to carry out a comparative study on the performance of different Radial Base Neural Network and Feed-Forward Perceptron Neural Network to forecast investment returns on the index. To achieve this goal, the return on investment in Tehran Stock Exchange index is evaluated and the performance of Radial Base Neural Network and Feed-Forward Perceptron Neural Network are compared. Neural networks performance test is applied based on the least square error in two approaches of in-sample and out-of-sample. The research results show the superiority of the radial base neural network in the in-sample approach and the superiority of perceptron neural network in the out-of-sample approach.

Keywords: exchange index, forecasting, perceptron neural network, Tehran stock exchange

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Authors: Ousmane Sarr

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The Senegalese coasts have high productivity of fishery resources due to the frequency of intense up-welling system that occurs along its coast, caused by the maritime trade winds making its waters nutrients rich. Fishing plays a primordial role in Senegal's socioeconomic plans and food security. However, a global diagnosis of the Senegalese maritime fishing sector has highlighted the challenges this sector encounters. Among these concerns, some significant stocks, a priority target for artisanal fishing, need further assessment. If no efforts are made in this direction, most stock will be overexploited or even in decline. It is in this context that this research was initiated. This investigation aimed to apply a multi-modal approach (LBB, Catch-only-based CMSY model and its most recent version (CMSY++); JABBA, and JABBA-Select) to assess the stock of Atlantic bonito, Sarda sarda (Bloch, 1793) in the Senegalese Exclusive Economic Zone (SEEZ). Available catch, effort, and size data from Atlantic bonito over 15 years (2004-2018) were used to calculate the nominal and standardized CPUE, size-frequency distribution, and length at retentions (50 % and 95 % selectivity) of the species. These relevant results were employed as input parameters for stock assessment models mentioned above to define the stock status of this species in this region of the Atlantic Ocean. The LBB model indicated an Atlantic bonito healthy stock status with B/BMSY values ranging from 1.3 to 1.6 and B/B0 values varying from 0.47 to 0.61 of the main scenarios performed (BON_AFG_CL, BON_GN_Length, and BON_PS_Length). The results estimated by LBB are consistent with those obtained by CMSY. The CMSY model results demonstrate that the SEEZ Atlantic bonito stock is in a sound condition in the final year of the main scenarios analyzed (BON, BON-bt, BON-GN-bt, and BON-PS-bt) with sustainable relative stock biomass (B2018/BMSY = 1.13 to 1.3) and fishing pressure levels (F2018/FMSY= 0.52 to 1.43). The B/BMSY and F/FMSY results for the JABBA model ranged between 2.01 to 2.14 and 0.47 to 0.33, respectively. In contrast, The estimated B/BMSY and F/FMSY for JABBA-Select ranged from 1.91 to 1.92 and 0.52 to 0.54. The Kobe plots results of the base case scenarios ranged from 75% to 89% probability in the green area, indicating sustainable fishing pressure and an Atlantic bonito healthy stock size capable of producing high yields close to the MSY. Based on the stock assessment results, this study highlighted scientific advice for temporary management measures. This study suggests an improvement of the selectivity parameters of longlines and purse seines and a temporary prohibition of the use of sleeping nets in the fishery for the Atlantic bonito stock in the SEEZ based on the results of the length-base models. Although these actions are temporary, they can be essential to reduce or avoid intense pressure on the Atlantic bonito stock in the SEEZ. However, it is necessary to establish harvest control rules to provide coherent and solid scientific information that leads to appropriate decision-making for rational and sustainable exploitation of Atlantic bonito in the SEEZ and the Eastern Atlantic Ocean.

Keywords: multi-model approach, stock assessment, atlantic bonito, healthy stock, sustainable, SEEZ, temporary management measures

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Authors: S. Yessengabulov, A. Uyzbayeva

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Residential buildings fund of Kazakhstan was built in the Soviet time about 35-60 years ago without considering energy efficiency measures. Currently, most of these buildings are in a rundown condition and fail to meet the minimum of hygienic, sanitary and comfortable living requirements. The paper aims to examine the reports of recent building energy survey activities in the country and provide a possible solution for retrofitting existing housing stock built before 1989 which could be applicable for building envelope in cold climate. Methodology also includes two-dimensional modeling of possible practical solutions and further recommendations.

Keywords: energy audit, energy efficient buildings in Kazakhstan, retrofit, two-dimensional conduction heat transfer analysis

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Authors: Aukse Miskinyte, Audrius Dedele

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The impact of urban air pollution on human health effects has been revealed in epidemiological studies, which have assessed the associations between various types of gases and particles and negative health outcomes. The percentage of population living in urban areas is increasing, and the assessment of air pollution in certain zones in the city (like street canyons) that have higher level of air pollution and specific dispersion conditions is essential as these places tend to contain a lot of people. Street canyon is defined as a street surrounded by tall buildings on both sides that trapes traffic emissions and prevents pollution dispersion. The aim of this study was to determine the pollution of nitrogen dioxide in street canyons in Kaunas city during cold and warm seasons. The measurements were conducted using passive sampling technique during two-week period in two street canyon sites, whose axes are approximately north-south and north-northeast‒south-southwest. Both of these streets are two-lane roads of 7 meters width, one is in the central part of the city, and other is in the Old Town. The results of two-week measurements showed that the concentration of nitrogen dioxide was higher in summer season than in winter in both street canyon sites. The difference between the level of NO2 in winter and summer seasons was 5.1 and 19.4 µg/m3 in the first and in the second street canyon sites, respectively. The higher concentration of NO2 was determined in the second street canyon site than in the first, although there was calculated lower traffic intensity. These results could be related to the certain street canyon characteristics.

Keywords: air pollution, nitrogen dioxide, passive sampler, street canyon

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Authors: Ibrahim Sani, J. T. Amodu, M. R. Hassan, R. J. Tanko, N. Adamu

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This study investigated the digestibility of Brachiaria ruziziensis and Centrosema pascuorum hay mixtures at varying proportions in Yankasa rams. Twelve Yankasa rams with average initial weight 10.25 ± 0.1 kg were assigned to three dietary treatments of B. ruziziensis and C. pascuorum hay at different mixtures (75BR:25CP, 50BR:50CP and 25BR:75CP, respectively) in a Completely Randomized Design (CRD) for a period of 14 days. Concentrate diet was given to the experimental animals as supplement at fixed proportion, while the forage mixture (basal diet) was fed at 3% body weight. Animals on 50BR:50CP had better nutrient digestibility (crude protein, acid and neutral detergent fibre, ether extract and nitrogen free extract) than other treatment diets, except in dry matter digestibility (87.35%) which compared with 87.54% obtained in 25BR:75CP treatment diet and also organic matter digestibility. All parameters taken on nitrogen balance with the exception of nitrogen retained were significantly higher (P < 0.05) in animals fed 25BR:75CP diet, but were statistically similar with values obtained for animals on 50BR:50CP diet. From results obtained in this study, it is concluded that mixture of 25%BR75%CP gave the best nutrient digestibility and nitrogen balance in Yankasa rams. It is therefore recommended that B. ruziziensis and C. pascuorum should be fed at 50:50 mixture ratio for enhanced animal growth and performance in Nigeria.

Keywords: B. ruziziensis, C. pascuorum, digestibilty, rams, Yankasa

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Authors: Friday Godwin Okibe, Elaoyi David Paul, Oladayo Thomas Ojekunle

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In this study, Nitrogen and Phosphorous co-doped Zinc Oxide (NPZ) was prepared through a solvent-free reaction. The NPZ was characterized by Scanning Electron Microscopy (SEM) and Fourier Transform Infrared (FTIR) spectroscopy. The photocatalytic activity of the catalyst was investigated by monitoring the degradation of para-nitrophenol (PNP) under visible light irradiation and the process was optimized using factorial design of experiment. The factors investigated were initial concentration of para-nitrophenol, catalyst loading, pH and irradiation time. The characterization results revealed a successful doping of ZnO by nitrogen and phosphorus and an improvement in the surface morphology of the catalyst. The photo-catalyst exhibited improved photocatalytic activity under visible light by 73.8%. The statistical analysis of the optimization result showed that the model terms were significant at 95% confidence level. Interactions plots revealed that irradiation time was the most significant factor affecting the degradation process. The cube plots of the interactions of the variables showed that an optimum degradation efficiency of 66.9% was achieved at 10mg/L initial PNP concentration, 0.5g catalyst loading, pH 7 and 150 minutes irradiation time.

Keywords: nitrogen and phosphorous co-doped Zno, p-nitrophenol, photocatalytic degradation, optimization, factorial design of experimental

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Authors: Taylan Kabbani, Ekrem Duman

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The design of adaptive systems that take advantage of financial markets while reducing the risk can bring more stagnant wealth into the global market. However, most efforts made to generate successful deals in trading financial assets rely on Supervised Learning (SL), which suffered from various limitations. Deep Reinforcement Learning (DRL) offers to solve these drawbacks of SL approaches by combining the financial assets price "prediction" step and the "allocation" step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. In this paper, a continuous action space approach is adopted to give the trading agent the ability to gradually adjust the portfolio's positions with each time step (dynamically re-allocate investments), resulting in better agent-environment interaction and faster convergence of the learning process. In addition, the approach supports the managing of a portfolio with several assets instead of a single one. This work represents a novel DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem, or what is referred to as The Agent Environment as Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. More specifically, we design an environment that simulates the real-world trading process by augmenting the state representation with ten different technical indicators and sentiment analysis of news articles for each stock. We then solve the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm, which can learn policies in high-dimensional and continuous action spaces like those typically found in the stock market environment. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of deep reinforcement learning in financial markets over other types of machine learning such as supervised learning and proves its credibility and advantages of strategic decision-making.

Keywords: the stock market, deep reinforcement learning, MDP, twin delayed deep deterministic policy gradient, sentiment analysis, technical indicators, autonomous agent

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Authors: Liang-Chien Lee, Chih-Hsiang Chang, Ying-Shu Tseng

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Comparing with prior studies mainly focused on the effect of a certain event (it may be the initial announcement of bad news or the repeated announcements of identical bad news) on stock price, the aim of this study is to explore how investors react to subsequent bad news with identical content. Empirical results show that as a result of behavioral pitfalls, investors underreact to the initial announcement of the bad news (i.e., unknown bad news) and overreact to the repeated announcements of the identical bad news (i.e., known bad news).

Keywords: subsequent bad news, behavioral finance, Investors’ misreaction, behavioral pitfalls

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Authors: Giulia Dal Maso

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Within the contemporary financial capitalist configuration, the interplay of Chinese statecraft and financialization has shaped a new ‘ecology of financial expertise.’ This indicates the emergence of a new financial technocratic governance; that is increasingly changing the Chinese economy, reducing the state’s administrative and fiscal functions and increasing state assets in accordance with a new shareholder logic. In this shift, the creation of the stock market by the state was conceived not only as a new redistributor of wealth but as a ‘clearing house’ for social discontent resulting from work casualization, wage repression and a lack of social welfare. Since its inception in the wake of Deng Xiaoping’s reforms, the Chinese state has used the stock market as a means of securing social legitimation by providing a prearranged space where the disaggregated and vulnerable subjects left behind by the dismantlement of the collective work units of the Maoist period (danwei) can congregate. However, fieldwork which included both participant observation as well as interviews with investors in brokerage rooms in Shanghai (where one of only two mainland Chinese stock exchanges is situated) reveals that both new formal and informal financial experts—namely the haigui (Chinese returnees with a financial degree abroad) and sanhu (individual Chinese scattered players), are equally dissatisfied with their investing activities. They express discontent with the state, which they hold responsible for the summer 2015 financial crisis and for the financial turmoil that jeopardizes China’s financial and political project. What the investors want is a state that will guarantee the continuation of the current gupiaore ‘stock fever’. This paper holds that, by embracing financialization, the state is undermining the contract at the base of its legitimacy.

Keywords: Chinese state, Deng Xiaoping, financial capitalism, individual investors

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Authors: Amir Raeisdana, Davood Sohrabi, Mojtaba Nohekhan, Ameneh Kargarian, Maryam Ghapanvari, Alireza Aslezaeem

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Improvement of zirconium properties by chromium coating and nitrogen implantation is ideal to protect the nuclear fuel rods against corrosion and secondary hydrogenation. Metallic chromium (Cr) has attracted attention as a potential coating material on zirconium alloys, to limit external cladding corrosion. In this research, high energy plasma focus device was used to coat the chromium and implant the nitrogen ions in the zirconium substrate. This device emits high-energy nitrogen ions of 10 keV-1 MeV and with a flux of 10^16 ions/cm^2 in each shot toward the target so it is attractive for implantation on the substrate materials at the room temperature. Six zirconium samples in 2cm×2cm dimensions with 1mm thickness were located at a distance of 20cm from the place where the pinch is formed. The experiments are carried out in 0.5 mbar of the nitrogen gas pressure and 15 kV of the charging voltage. Pure Cr disc was installed on the anode head for sputtering of the chromium and deposition on zirconium substrate. When the pinch plasma column decays due to various instabilities, intense and high-energy N2 ions are accelerated towards the zirconium substrate also sputtered Cr is deposited on the zirconium substrate. XRD and XRF analysis were used to study the structural properties of the samples. XRF analysis indicates 77.1% of Zr and 11.1% of Cr in the surface of the sample. XRD spectra shows the formation of ZrN, CrN and CrZr composites after nitrogen implantation and chromium coating. XRD spectra shows the chromium peak height equal to 152.80 a.u. for the major sample (θ=0֯) and 92.99 a.u. for the minor sample (θ=6֯), so implantation and coating along the main axis of the device is significantly more than other directions.

Keywords: ZrN and CrN and CrZr composites, angular distribution for Cr deposition rate, zirconium corrosion resistance, nuclear fuel rods, plasma focus device

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Authors: Mehani Mouna, Segni Ladjel

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Medicinal and aromatic plants are promising and are characterized by the biosynthesis of odorous molecules that make up the so-called essential oils (EO), which have long been known for their antiseptic and therapeutic activity in folk medicine. The objective of this study was to evaluate the influence of drying in the shade on the water content and on the content of essential oils extracted from leaves of Eucalyptus camendulensis for better quality control of medicinal and aromatic plants. The water content of the Eucalyptus camendulensis plant material decreases during the drying process. It increased from 100 % to 0.006 % for the drying in the shade after ten days. The moisture content is practically constant at the end of the drying period. The drying in the shade increases the concentration of essential oils of Eucalyptus camendulensis. When the leaves of Eucalyptus camendulensis plant are in the shade, the maximum of the essential oil content was obtained on the eighth days; the recorded value was 1.43% ± 0.01%. Beyond these periods, the content continuously drops in before stabilizing. The optimum drying time is between 6 and 9 days.

Keywords: Eucalyptus camendulensis, drying, essential oils, water, content

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Authors: Adilah Shariff, Radin Hakim, Nurhayati Abdullah

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Utilisation of biomass feedstock for biochar has received increasing attention because of their potential for carbon sequestration and soil amendment. The aim of this study is to investigate the characteristics of rubber wood as a biomass feedstock for biochar via slow pyrolysis process. This was achieved by using proximate, ultimate, and thermogravimetric analysis (TGA) as well as heating value, pH and lignocellulosic determination. Rubber wood contains 4.13 mf wt.% moisture, 86.30 mf wt.% volatile matter, 0.60 mf wt.% ash content, and 13.10 mf wt.% fixed carbon. The ultimate analysis shows that rubber wood consists of 44.33 mf wt.% carbon, 6.26 mf wt.% hydrogen, 19.31 mf wt.% nitrogen, 0.31 mf wt.% sulphur, and 29.79 mf wt.% oxygen. The higher heating value of rubber wood is 22.5 MJ/kg, and its lower heating value is 21.2 MJ/kg. At 27 °C, the pH value of rubber wood is 6.83 which is acidic. The lignocellulosic analysis revealed that rubber wood composition consists of 2.63 mf wt.% lignin, 20.13 mf wt.% cellulose, and 65.04 mf wt.% hemicellulose. The volatile matter to fixed carbon ratio is 6.58. This led to a biochar yield of 25.14 wt.% at 500 °C. Rubber wood is an environmental friendly feedstock due to its low sulphur content. Rubber wood therefore is a suitable and a potential feedstock for biochar production via slow pyrolysis.

Keywords: biochar, biomass, rubber wood, slow pyrolysis

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Authors: F. Ghandehari, H. Lu, L. El-Jahel, D. Jayasuriya

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Disagreement among investors is a fundamental aspect of financial markets, significantly influencing market dynamics. Measuring this disagreement has traditionally posed challenges, often relying on proxies like analyst forecast dispersion, which are limited by biases and infrequent updates. Recent movements in social media indicate that retail investors actively seek financial advice online and can influence the stock market. The evolution of the investing landscape, particularly the rise of social media as a hub for financial advice, provides an alternative avenue for real-time measurement of investor sentiment and disagreement. Platforms like Reddit offer rich, community-driven discussions that reflect genuine investor opinions. This research explores how social media empowers retail investors and the potential of leveraging textual analysis of social media content to capture daily fluctuations in investor disagreement. This study investigates the relationship between daily investor disagreement and trading volume, focusing on the role of social media platforms in shaping market dynamics, specifically using data from WallStreetBets (WSB) on Reddit. This paper uses data from 2020 to 2023 from WSB and analyses 4,896 firms with enough social media activity in WSB to define stock-day level disagreement measures. Consistent with traditional theories that disagreement induces trading volume, the results show significant evidence supporting this claim through different disagreement measures derived from WSB discussions.

Keywords: disagreement, retail investor, social finance, social media

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Authors: Byomakesh Debata, Jitendra Mahakud

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The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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Authors: Di Wang, Li Fang, Shengyu Fang, Jianhua Li, Honghong Dong, Zhongzhi Zhang

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Heavy oily refinery wastewater with the characteristics of high concentration of toxic organic pollutant, poor biodegradability and complicated dissolved recalcitrant compounds is intractable to be degraded. In order to reduce the concentrations of COD and total nitrogen pollutants which are the major pollutants in heavy oily refinery wastewater, the Anoxic - Oxic microbiological technology relies mainly on anaerobic microbial reactor which works with methanogenic archaea mainly that can convert organic pollutants to methane gas, and supplemented by aerobic treatment. The results of continuous operation for 2 months with a hydraulic retention time (HRT) of 60h showed that, the COD concentration from influent water of anaerobic reactor and effluent water from aerobic reactor were 547.8mg/L and 93.85mg/L, respectively. The total removal rate of COD was up to 84.9%. Compared with the 46.71mg/L of total nitrogen pollutants in influent water of anaerobic reactor, the concentration of effluent water of aerobic reactor decreased to 14.11mg/L. In addition, the average removal rate of total nitrogen pollutants reached as high as 69.8%. Based on the data displayed, Anoxic - Oxic microbial technology shows a great potential to dispose heavy oil sewage in energy saving and high-efficiency of biodegradation.

Keywords: anoxic - oxic microbiological technology, COD, heavy oily refinery wastewater, total nitrogen pollutant

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Authors: Vish Putcha, Chandrasekhar Putcha, Siva Hari

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In the current digital era of free trading and pandemic-driven remote work culture, markets worldwide gained momentum for retail investors to trade from anywhere easily. The number of retail traders rose to 24% of the market from 15% at the pre-pandemic level. Most of them are young retail traders with high-risk tolerance compared to the previous generation of retail traders. This trend boosted the growth of subscription-based market predictors and market data vendors. Young traders are betting on these predictors, assuming one of them is correct. However, 90% of retail traders are on the losing end. This paper presents multiple indicators and attempts to derive behavioral patterns from the underlying stocks. The two major indicators that traders and investors follow are technical and fundamental. The famous investor, Warren Buffett, adheres to the “Value Investing” method that is based on a stock’s fundamental Analysis. In this paper, we present multiple indicators from various methods to understand the behavior patterns of stocks. For this research, we picked five stocks with a market capitalization of more than $200M, listed on the exchange for more than 20 years, and from different industry sectors. To study the behavioral pattern over time for these five stocks, a total of 8 indicators are chosen from fundamental, technical, and financial indicators, such as Price to Earning (P/E), Price to Book Value (P/B), Debt to Equity (D/E), Beta, Volatility, Relative Strength Index (RSI), Moving Averages and Dividend yields, followed by detailed mathematical Analysis. This is an interdisciplinary paper between various disciplines of Engineering, Accounting, and Finance. The research takes a new approach to identify clear indicators affecting stocks. Statistical Analysis of the data will be performed in terms of the probabilistic distribution, then follow and then determine the probability of the stock price going over a specific target value. The Chi-square test will be used to determine the validity of the assumed distribution. Preliminary results indicate that this approach is working well. When the complete results are presented in the final paper, they will be beneficial to the community.

Keywords: stock pattern, stock market analysis, stock predictions, trading, investing, fundamental analysis, technical analysis, quantitative trading, financial analysis, behavioral analysis

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Authors: Yosra Mefteh Rekik, Younes Boujelbene

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We introduce in this paper a new conceptual model representing the stock market dynamics. This model is essentially based on cognitive behavior of the intelligence investors. In order to validate our model, we build an artificial stock market simulation based on agent-oriented methodologies. The proposed simulator is composed of market supervisor agent essentially responsible for executing transactions via an order book and various kinds of investor agents depending to their profile. The purpose of this simulation is to understand the influence of psychological character of an investor and its neighborhood on its decision-making and their impact on the market in terms of price fluctuations. Therefore, the difficulty of the prediction is due to several features: the complexity, the non-linearity and the dynamism of the financial market system, as well as the investor psychology. The Artificial Neural Networks learning mechanism take on the role of traders, who from their futures return expectations and place orders based on their expectations. The results of intensive analysis indicate that the existence of agents having heterogeneous beliefs and preferences has provided a better understanding of price dynamics in the financial market.

Keywords: artificial intelligence methods, artificial stock market, behavioral modeling, multi-agent based simulation

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Authors: Şevket Evci, Mehmet Akif Karsli

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The aim of this study is to determine nutrient contents, in situ ruminal degradation kinetics and protein fractions of screenings bean (B), chick pea (ChP), red lentil (RL) and green lentil (GL) that is used as residue in grain legume packing industry. For this purpose, four samples of each legumes species-a total of 16 samples, collected from different parts of our country were utilized. Feedstuffs used in the experiment were incubated for 0, 2 4, 8, 12, 24, and 48 hours in the rumen of 3 ruminally cannulated Akkaraman rams as duplicate. The nutrient contents, in situ ruminal dry matter (DM), organic matter (OM) and crude protein (CP) degradabilities and fractions, and escape protein contents were evaluated. The highest OM and CP contents were observed in RL (P<0.05). Chick pea had the highest ether extract (EE) content and EE values were 3.47, 6.72, 2.26, 8.66 % for RL, B, GL and ChP, respectively (P<0.05). Crude fiber (CF), ADF, and NDF contents were the highest in RL and the lowest in ChP. CF values were 24.03, 10.80, 4.09 and 3.57 % for RL, GL, B and ChP (P<0.05). Acid detergent insoluble nitrogen content of samples did not differ. Escape protein content was the highest in RL and the lowest in B (P<0.05). After 48 h incubation, the lowest OM and CP degradabilities were observed in RL. While the highest OM degradability was seen in ChP the highest CP degradability was observed in B (P<0.05). The lowest water soluble OM and CP contents were observed in RL whereas the highest potentially degradable OM and CP contents were seen in B and ChP (P<0.05). Both rate of OM and CP degradations (k-1) did not differ among samples (P>0.05). In conclusion, it was noted that feedstuffs (GL, ChP and B) used in the experiment except RL had a greater ruminal degradibilities of both OM and CP and moreover, had a higher escape protein contents, except B. It was thought that these feedstuffs can be substituted with some of common protein sources used in animal nutrition.

Keywords: in situ, nutrient contents, ruminant, subsieve

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Authors: Ahmed Y. Kutbi, C. Russell. J. Baird, M. McNaughtan, Francis Wayman

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Wastewaters from antibiotic production facilities are characterized with high concentrations of dissolved organic substances. Subsequently, it challenges wastewater treatment plant operator to achieve successful biological treatment and to meet regulatory emission levels. Of the dissolved organic substances, this research is investigating the fate of organic nitrogenous compounds (i.e., Chitin) in an antibiotic production wastewater treatment plant located in Irvine, Scotland and its impact on the WWTP removal performance. Dissolved organic nitrogen (DON) in WWTP effluents are of significance because 1) its potential to cause eutrophication in receiving waters, 2) the formation of nitrogenous disinfection by products in drinking waters and 3) limits WWTPs ability to achieve very low total nitrogen (TN) emissions limits (5 – 25 mg/l). The latter point is where the knowledge gap lays between the operator and the regulator in setting viable TN emission levels. The samples collected from Irvine site at the different stages of the treatment were analyzed for TN and DON. Results showed that the average TN in the WWTP influents and effluents are 798 and 261 mg/l respectively, in other words, the plant achieved 67 % removal of TN. DON Represented 51% of the influents TN, while the effluents accounted 26 % of the TN concentrations. Therefore, an ongoing investigation is carried out to identify DON constituents in WWTP effluent and evaluate its impact on the WWTP performance and its potential bioavailability for algae in receiving waters, which is, in this case, Irvine Bay.

Keywords: biological wastewater treatment plant, dissolved organic nitrogen, bio-availability, Irvine Bay

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Authors: Moses Kolade Ogun, Ina Korner

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To improve on the sustainable resource management in the wastepaper recycling industry, studies into the valorization of wastes generated by the industry are necessary. The industry produces different residues, among which is the deinking sludge (DS). The DS is generated from the deinking process and constitutes a major fraction of the residues generated by the European pulp and paper industry. The traditional treatment of DS by incineration is capital intensive due to energy requirement for dewatering and the need for complementary fuel source due to DS low calorific value. This could be replaced by a biotechnological approach. This study, therefore, investigated the biogas potential of different DS streams (different dewatering degrees) and the influence of the high calcium carbonate content of DS on its biogas potential. Dewatered DS (solid fraction) sample from filter press and the filtrate (liquid fraction) were collected from a partner wastepaper recycling company in Germany. The solid fraction and the liquid fraction were mixed in proportion to realize DS with different water content (55–91% fresh mass). Spiked samples of DS using deionized water, cellulose and calcium carbonate were prepared to simulate DS with varying calcium carbonate content (0– 40% dry matter). Seeding sludge was collected from an existing biogas plant treating sewage sludge in Germany. Biogas potential was studied using a 1-liter batch test system under the mesophilic condition and ran for 21 days. Specific biogas potential in the range 133- 230 NL/kg-organic dry matter was observed for DS samples investigated. It was found out that an increase in the liquid fraction leads to an increase in the specific biogas potential and a reduction in the absolute biogas potential (NL-biogas/ fresh mass). By comparing the absolute biogas potential curve and the specific biogas potential curve, an optimal dewatering degree corresponding to a water content of about 70% fresh mass was identified. This degree of dewatering is a compromise when factors such as biogas yield, reactor size, energy required for dewatering and operation cost are considered. No inhibitory influence was observed in the biogas potential of DS due to the reported high calcium carbonate content of DS. This study confirms that DS is a potential bioresource for biogas production. Further optimization such as nitrogen supplementation due to DS high C/N ratio can increase biogas yield.

Keywords: biogas, calcium carbonate, deinking sludge, dewatering, water content

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Authors: H. Tavakoli, S. S. Mohtasebi, R. Alimardani, R. Gebbers

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Nitrogen (N) is one of the most important agricultural inputs affecting crop growth, yield and quality in rain-fed cereal production. N demand of crops varies spatially across fields due to spatial differences in soil conditions. In addition, the response of a crop to the fertilizer applications is heavily reliant on plant available water. Matching N supply to water availability is thus essential to achieve an optimal crop response. The objective of this study was to determine effect of drought stress on estimation of nitrogen status of winter wheat by some vegetation indices. During the 2012 growing season, a field experiment was conducted at the Bundessortenamt (German Plant Variety Office) Marquardt experimental station which is located in the village of Marquardt about 5 km northwest of Potsdam, Germany (52°27' N, 12°57' E). The experiment was designed as a randomized split block design with two replications. Treatments consisted of four N fertilization rates (0, 60, 120 and 240 kg N ha-1, in total) and two water regimes (irrigated (Irr) and non-irrigated (NIrr)) in total of 16 plots with dimension of 4.5 × 9.0 m. The indices were calculated using readings of a spectroradiometer made of tec5 components. The main parts were two “Zeiss MMS1 nir enh” diode-array sensors with a nominal rage of 300 to 1150 nm with less than 10 nm resolutions and an effective range of 400 to 1000 nm. The following vegetation indices were calculated: NDVI, GNDVI, SR, MSR, NDRE, RDVI, REIP, SAVI, OSAVI, MSAVI, and PRI. All the experiments were conducted during the growing season in different plant growth stages including: stem elongation (BBCH=32-41), booting stage (BBCH=43), inflorescence emergence, heading (BBCH=56-58), flowering (BBCH=65-69), and development of fruit (BBCH=71). According to the results obtained, among the indices, NDRE and REIP were less affected by drought stress and can provide reliable wheat nitrogen status information, regardless of water status of the plant. They also showed strong relations with nitrogen status of winter wheat.

Keywords: nitrogen status, drought stress, vegetation indices, precision agriculture

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Authors: Aleksandras Velykis, Antanas Satkus

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Clay loam and clay soils are typical for northern Lithuania. These soils are susceptible to physical degradation in the case of intensive use of heavy machinery for field operations. However, clayey soils having poor physical properties by origin require more intensive tillage to maintain proper physical condition for grown crops. Therefore not only choice of suitable tillage system is very important for these soils in the region, but also additional search of other measures is essential for good soil physical state maintenance. Research objective: To evaluate the long-term effects of different intensity tillage as well as its combinations with supplementary agronomic practices on improvement of soil physical conditions and environmental sustainability. The experiment examined the influence of deep and shallow ploughing, ploughless tillage, combinations of ploughless tillage with incorporation of lime sludge and cover crop for green manure and application of the same cover crop for mulch without autumn tillage under spring and winter crop growing conditions on clay loam (27% clay, 50% silt, 23% sand) Endocalcaric Endogleyic Cambisol. Methods: The indicators characterizing the impact of investigated measures were determined using the following methods and devices: Soil dry bulk density – by Eijkelkamp cylinder (100 cm3), soil water content – by weighing, soil structure – by Retsch sieve shaker, aggregate stability – by Eijkelkamp wet sieving apparatus, soil mineral nitrogen – in 1 N KCL extract using colorimetric method. Results: Clay loam soil physical state (dry bulk density, structure, aggregate stability, water content) depends on tillage system and its combination with additional practices used. Application of cover crop winter mulch without tillage in autumn, ploughless tillage and shallow ploughing causes the compaction of bottom (15-25 cm) topsoil layer. However, due to ploughless tillage the soil dry bulk density in subsoil (25-35 cm) layer is less compared to deep ploughing. Soil structure in the upper (0-15 cm) topsoil layer and in the seedbed (0-5 cm), prepared for spring crops is usually worse when applying the ploughless tillage or cover crop mulch without autumn tillage. Application of lime sludge under ploughless tillage conditions helped to avoid the compaction and structure worsening in upper topsoil layer, as well as increase aggregate stability. Application of reduced tillage increased soil water content at upper topsoil layer directly after spring crop sowing. However, due to reduced tillage the water content in all topsoil markedly decreased when droughty periods lasted for a long time. Combination of reduced tillage with cover crop for green manure and winter mulch is significant for preserving the environment. Such application of cover crops reduces the leaching of mineral nitrogen into the deeper soil layers and environmental pollution. This work was supported by the National Science Program ‘The effect of long-term, different-intensity management of resources on the soils of different genesis and on other components of the agro-ecosystems’ [grant number SIT-9/2015] funded by the Research Council of Lithuania.

Keywords: clay loam, endocalcaric endogleyic cambisol, mineral nitrogen, physical state

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Authors: Panpan Fan, Bo Ming, Niels Anten, Jochem Evers, Yaoyao Li, Shaokun Li, Ruizhi xie

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Nitrogen (N) utilization for crop production under N deficiency conditions is subject to a trade-off between maintaining specific leaf N content (SLN), important for radiation-use efficiency (RUE), versus maintaining leaf area (LA) development, important for light capture. This paper aims to explore how maize deals with this trade-off through responses in SLN, LA and their underlying traits during the vegetative and reproductive growth stages. In a ten-year N fertilization trial in Jilin province, Northeast China, three N fertilizer levels have been maintained: N-deficiency (N0), low N supply (N1), and high N supply (N2). We analyzed data from years 8 and 10 of this experiment for two common hybrids. Under N deficiency, maize plants maintained LA and decreased SLN during vegetative stages, while both LA and SLN decreased comparably during reproductive stages. Canopy-average specific leaf area (SLA) decreased sharply during vegetative stages and slightly during reproductive stages, mainly because senesced leaves in the lower canopy had a higher SLA. In the vegetative stage, maize maintained leaf area at low N by maintaining leaf biomass (albeit hence having N content/mass) and slightly increasing SLA. These responses to N deficiency were stronger in maize hybrid XY335 than in ZD958. We conclude the main strategy of maize to cope with low N is to maintain plant growth, mainly by increasing SLA throughout the plant during early growth. N was too limiting for either strategy to be followed during later growth stages.

Keywords: leaf N content per unit leaf area, N deficiency, specific leaf area, maize strateg

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