Search results for: carbon stock

Authors: Dezie L. Warganegara, Dewi Tamara

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The objectives of this study are to investigate the existence of the sticky cost behaviour of firms listed in the Indonesia Stock Exchange (IDX) and to find an evidence on the effects of sticky operating expenses (SG&A expenses) on profitability of firms. For the first objective, this study found that the sticky cost behaviour does exist. For the second objective, this study finds that the stickier the operating expenses the less future profitability of the firms. This study concludes that sticky cost affects negatively to the performance and, therefore, firms should include flexibility in designing the cost structure of their firms.

Keywords: sticky costs, Indonesia Stock Exchange (IDX), profitability, operating expenses, SG&A

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Authors: D. Kuvshinov, A. Siswanto, W. Zimmerman

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A phorbol-12-myristate-13-acetate (TPA) is a synthetic analogue of phorbol ester (PE), a natural toxic compound of Euphorbiaceae plant. The oil extracted from plants of this family is useful source for primarily biofuel. However this oil can also be used as a food stock due to its significant nutrition content. The limitations for utilizing the oil as a food stock are mainly due to a toxicity of PE. Nowadays a majority of PE detoxification processes are expensive as include multi steps alcohol extraction sequence. Ozone is considered as a strong oxidative agent. It reaction with PE it attacks the carbon double bond of PE. This modification of PE molecular structure results into nontoxic ester with high lipid content. This report presents data on development of simple and cheap PE detoxification process with water application as a buffer and ozone as reactive component. The core of this new technique is a simultaneous application of new microscale plasma unit for ozone production and patented gas oscillation technology. In combination with a reactor design the technology permits ozone injection to the water-TPA mixture in form of microbubbles. The efficacy of a heterogeneous process depends on diffusion coefficient which can be controlled by contact time and interface area. The low velocity of rising microbubbles and high surface to volume ratio allow fast mass transfer to be achieved during the process. Direct injection of ozone is the most efficient process for a highly reactive and short lived chemical. Data on the plasma unit behavior are presented and influence of the gas oscillation technology to the microbubbles production mechanism has been discussed. Data on overall process efficacy for TPA degradation is shown.

Keywords: microbubble, ozonolysis, synthetic phorbol ester, chemical engineering

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Authors: Javkhlan Nyamjav, Simona Fischer, Lauren Garner, Veronica McCracken

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Current whole building life cycle assessments (LCA) primarily focus on structural and major architectural elements to measure building embodied carbon. Most of the interior finishes and fixtures are available on digital tools (such as Tally); however, furniture is still left unaccounted for. Due to its repeated refreshments and its complexity, furniture embodied carbon can accumulate over time, becoming comparable to structure and envelope numbers. This paper presents a method to calculate the Global Warming Potential (GWP) of furniture elements in commercial buildings. The calculator uses the quantity takeoff method with GWP averages gathered from environmental product declarations (EPD). The data was collected from EPD databases and furniture manufacturers from North America to Europe. A total of 48 GWP numbers were collected, with 16 GWP coming from alternative EPD. The finalized calculator shows the average GWP of typical commercial furniture and helps the decision-making process to reduce embodied carbon. The calculator was tested on MSR Design projects and showed furniture can account for more than half of the interior embodied carbon. The calculator highlights the importance of adding furniture to the overall conversation. However, the data collection process showed a) acquiring furniture EPD is not straightforward as other building materials; b) there are very limited furniture EPD, which can be explained from many perspectives, including the EPD price; c) the EPD themselves vary in terms of units, LCA scopes, and timeframes, which makes it hard to compare the products. Even though there are current limitations, the emerging focus on interior embodied carbon will create more demand for furniture EPD. It will allow manufacturers to represent all their efforts on reducing embodied carbon. In addition, the study concludes with recommendations on how designers can reduce furniture-embodied carbon through reuse and closed-loop systems.

Keywords: furniture, embodied carbon, calculator, tenant improvement, interior design

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Authors: R. Begum, M. M. R. Jahangir, M. Jahiruddin, M. R. Islam, M. M. Rahman, M. B. Hossain, P. Hossain

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Quantifying carbon (C) sequestration in soils is necessary to help better understand the effect of agricultural practices on the C cycle. The estimated contribution of agricultural carbon dioxide (CO₂) and methane (CH₄) to global warming potential (GWP) has a wide range. The underlying causes of this huge uncertainty are the difficulties to predict the regional CO₂ and CH₄ loss due to the lack of experimental evidence on CO₂ and CH₄ emissions and associated drivers. The CH₄ and CO₂ emissions were measured in irrigated wheat in subtropical floodplain soils which have been under two soil disturbance levels (strip vs. conventional tillage; ST vs. CT being both with 30% residue retention) and three N fertilizer rates (60, 100, and 140% of the recommended N fertilizer dose, RD) in annual wheat (Triticum aestivum)-mungbean (Vigna radiata)-rice (Oryza sativa L) for seven consecutive years. The highest CH₄ and CO₂ emission peak was observed on day 3 after urea application in both tillages except CO₂ flux in CT. Nitrogen fertilizer application rate significantly influenced mean and cumulative CH₄ and CO₂ fluxes. The CH₄ and CO₂ fluxes decreased in an optimum dose of N fertilizer except for ST for CH₄. The CO₂ emission significantly showed higher emission at minimum (60% of RD) fertilizer application at both tillages. Soil microbial biomass carbon (MBC), organic carbon (SOC), Particulate organic carbon (POC), permanganate oxidisable carbon (POXC), basal respiration (BR) were significantly higher in ST which were negative and significantly correlated with CO₂. However, POC and POXC were positively and significantly correlated with CH₄ emission.

Keywords: carbon dioxide emissions, methane emission, nitrogen rate, tillage

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Authors: Autcha Araveeporn

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This paper presents a study about a nonparametric regression model consisting of a smoothing spline method and a penalized spline regression method. We also compare the techniques used for estimation and prediction of nonparametric regression model. We tried both methods with crude oil prices in dollars per barrel and the Stock Exchange of Thailand (SET) index. According to the results, it is concluded that smoothing spline method performs better than that of penalized spline regression method.

Keywords: nonparametric regression model, penalized spline regression method, smoothing spline method, Stock Exchange of Thailand (SET)

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Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

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In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: equivalent martingale measure, European put option, girsanov theorem, martingales, monte carlo method, option price valuation formula

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Authors: Emma M. Iglesias

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We have analyzed extreme movements of the main stocks traded in the Eurozone in the 2000-2012 period. Our results can help future very-risk-averse investors to choose their portfolios in the Eurozone for risk management purposes. We find two main results. First, we can clearly classify firms by economic sector according to their different estimated VaR values in five of the seven countries we analyze. In special, we find sectors in general where companies have very high (telecommunications and banking) and very low (petroleum, utilities, energy and consumption) estimated VaR values. Second, we only find differences according to the geographical situation of where the stocks are traded in two countries: (1) all firms in the Irish stock market (the only financially rescued country we analyze) have very high estimated VaR values in all sectors; while (2) in Spain all firms have very low estimated VaR values including in the banking and the telecommunications sectors. All our results are supported when we study also the expected shortfall of the firms.

Keywords: risk management, firms, pareto tail thickness parameter, GARCH-type models, value-at-risk, extreme value theory, heavy tails, stock indexes, eurozone

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Authors: Alireza Mohadesi, Ashraf Salmanipour

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A chemically modified glassy carbon electrode for electrocatalytic determination of sulfide was developed using multiwalled carbon nanotubes (MWCNTs) covalently immobilized with 2,6-dichlorophenolindophenol (DPIP). The immobilization of 2,6-dichlorophenolindophenol with MWCNTs was performed with a new synthetic strategy and characterized by UV–visible absorption spectroscopy, Fourier transform infrared spectroscopy and cyclic voltammetry. The cyclic voltammetric response of DPIP grafted onto MWCNTs indicated that it promotes the low potential, sensitive and stable determination of sulfide. The dependence of response currents on the concentration of sulfide was examined and was linear in the range of 10 - 1100 µM. The detection limit of sulfide was 5 µM and RSD for 100 and 500 µM sulfides were 1.8 and 1.3 %. Many interfering species had little or no effect on the determination of sulfide. The procedure was applied to determination of sulfide in waters samples.

Keywords: functionalized carbon nanotubes, sulfide, biological samples, 2, 6-dichlorophenolindophenol

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Authors: Shuai Yang, Bin Li, Sixing Chen

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Engaging and co-creating value with buyers (i.e., the buying organizations) have rapidly become a rising trend for sellers (i.e., the selling organizations) within Business-to-Business (B2B) environments, through which buyers can interact more with sellers and be better informed about products. One important way to achieve this is through engaging with buyers on social media, termed as brand engagement on social media, which provides a platform for sellers to interact with customers. This study addresses the research gap by answering the following questions: (1) Are B2B firms’ brand engagement on social media related to their firm value? (2) To what extent do analyst stock recommendations channel B2B firms’ brand engagement on social media’s possible impact on firm value? To answer the research questions, this study collected data merged from multiple sources. The results show that there is a positive association between seller-initiated engagement and B2B sellers’ firm value. Besides, analyst stock recommendations mediate the positive relationships between seller-initiated engagement and firm value. However, this study reveals buyer-initiated engagement has a counterintuitive and negative relationship with firm value, which shows a dark side of buyer-initiated engagement on social media for B2B sellers.

Keywords: brand engagement, B2B firms, firm value, social media, stock recommendations

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Authors: Katarzyna Olejko

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The need to redefine the goals and adapt the operational activities carried out in accordance with the concept of sustainable management to these goals results in the increasing importance of information on the company's activities perceived from the perspective of the effectiveness and efficiency of environmental goals implementation. The narrow scope of reporting data on a company's impact on the environment is not adequate to meet the information needs of modern investors. Reporting obligations are therefore imposed on companies in order to increase the effectiveness of corporate governance and to improve the process of assessing the achievement of environmental goals. The non-financial reporting obligations introduced in Polish legislation increased the scope of reported information. However, the lack of detailed guidelines on the method of reporting resulted in a large diversification of the scope of non-financial information, making it impossible to compare the data presented by companies. The source of information regarding the level of the implementation of standards in Environmental, social and corporate governance (ESG) is the report on compliance with best practices published by the Warsaw Stock Exchange. The document Best Practices of Warsaw Stock Exchange (WSE) Listed Companies (2021), amended by the WSE in 2021, includes the rules applicable to this area (ESG). The aim of this article is to present the level of compliance with good practices in the area of ESG by selected companies listed on the Warsaw Stock Exchange The research carried out as part of this study, which was based on information from reports on the compliance with good practices of companies listed on the Warsaw Stock Exchange that was made available in the good practice scanner, have revealed that good practices in the ESG area are implemented by companies to a limited extent. The level of their application in comparison with other rules is definitely lower. The lack of experience and clear guidelines on ESG reporting may cause some confusion, which is why conscious investors and reporting companies themselves are pinning their hopes on the Corporate Sustainability Reporting Directive (CSRD) adopted by European Parliament.

Keywords: reporting, ESG, corporate governance, best practices

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Authors: Joana Mourão

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Transition to a low carbon economy requires changes in consumption and production patterns, including the improvement of existing buildings’ environmental performance. Urban rehabilitation is a top policy priority in Europe, creating an opportunity to increase this performance. However, urban rehabilitation comprises different typologies of interventions with distinct levels of consideration for cultural urban heritage values and for environmental values, thus with different impacts. Cities rely on both material and non-material forms of heritage that are deep-rooted and resilient. One of the most relevant parts of that urban heritage is the historical pre-industrial housing stock, with an extensive presence in many European cities, as Lisbon. This stock is rehabilitated and transformed at the framework of urban management and local governance traditions, as well as the framework of the global economy, and in that context, faces opportunities and threats that need evaluation and control. The scope of this article is to define methodological bases and research lines for the assessment of impacts that urban rehabilitation initiatives set on the vulnerable and historical pre-industrial urban housing stock, considering it as an environmental and cultural unreplaceable material value and resource. As a framework, this article reviews the concepts of urban regeneration, urban renewal, current buildings conservation and refurbishment, and energy refurbishment of buildings, seeking to define key typologies of urban rehabilitation that represent different approaches to the urban fabric, in terms of scope, actors, and priorities. Moreover, main types of interventions - basing on a case-study in a XVIII century neighborhood in Lisbon - are defined and analyzed in terms of the elements lost in each type of intervention, and relating those to urbanistic, architectonic and constructive values of urban heritage, as well as to environmental and energy efficiency. Further, the article overviews environmental cultural heritage assessment and life-cycle assessment tools, selecting relevant and feasible impact assessment criteria for urban buildings rehabilitation regulation, focusing on multi-level urban heritage integrity. Urbanistic, architectonic, constructive and energetic integrity are studied as criteria for impact assessment and specific indicators are proposed. The role of these criteria in sustainable urban management is discussed. Throughout this article, the key challenges for urban rehabilitation planning and management, concerning urban built heritage as a resource for sustainability, are discussed and clarified.

Keywords: urban rehabilitation, impact assessment criteria, buildings integrity, embodied energy

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Authors: Tomasz L. Nawrocki, Danuta Szwajca

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The growing importance of reputation in building enterprise value and achieving long-term competitive advantage creates the need for its measurement and evaluation for the management purposes (effective reputation and its risk management). The paper presents practical application of self-developed corporate reputation assessment model from the viewpoint of stock market investors. The model has a pioneer character and example analysis performed for selected industry is a form of specific test for this tool. In the proposed solution, three aspects - informational, financial and development, as well as social ones - were considered. It was also assumed that the individual sub-criteria will be based on public sources of information, and as the calculation apparatus, capable of obtaining synthetic final assessment, fuzzy logic will be used. The main reason for developing this model was to fulfill the gap in the scope of synthetic measure of corporate reputation that would provide higher degree of objectivity by relying on "hard" (not from surveys) and publicly available data. It should be also noted that results obtained on the basis of proposed corporate reputation assessment method give possibilities of various internal as well as inter-branch comparisons and analysis of corporate reputation impact.

Keywords: corporate reputation, fuzzy logic, fuzzy model, stock market investors

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Authors: Fatma Ismailia, Malek Saihi

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This research provides an explanation of exchange incentives on the Tunis stock market from a behavioural point of view. The elucidation of the anomalies of excessive volume of transactions and that of excessive volatility cannot be done without the recourse to the psychological aspects of investors. The excessive confidence has been given the predominant role for the explanation of these phenomena. Indeed, when investors store increments, they become more confident about the precision of their private information and their exchange activities then become more aggressive on the subsequent periods. These overconfident investors carry out the intensive exchanges leading to an increase of securities volatility. The objective of this research is to identify whether the trading volume and the excessive volatility of securities observed on the Tunisian stock market come from the excessive exchange of overconfident investors. We use a sample of daily observations over the period January 1999 - October 2007 and we relied on various econometric tests including the VAR model. Our results provide evidence on the importance to consider the bias of overconfidence in the analysis of Tunis stock exchange specificities. The results reveal that the excess of confidence has a major impact on the trading volume while using daily temporal intervals.

Keywords: overconfidence, trading volume, efficiency, rationality, anomalies, behavioural finance, cognitive biases

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Authors: Ramin Khamedi, Isa Ahmadi

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In this study acoustic emission (AE) signals obtained during deformation and fracture of two types of ferrite-martensite dual phase steels (DPS) specimens have been analyzed in frequency domain. For this reason two low carbon steels with various amounts of carbon were chosen, and intercritically heat treated. In the introduced method, identifying the mechanisms of failure in the various phases of DPS is done. For this aim, AE monitoring has been used during tensile test of several DPS with various volume fraction of the martensite (VM) and attempted to relate the AE signals and failure mechanisms in these steels. Different signals, which referred to 2-3 micro-mechanisms of failure due to amount of carbon and also VM have been seen. By Fast Fourier Transformation (FFT) of signals in distinct locations, an excellent relationship between peak frequencies in these areas and micro-mechanisms of failure were seen. The results were verified by microscopic observations (SEM).

Keywords: acoustic emission, dual phase steels, deformation, failure, fracture

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Authors: Razan Salem

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Gender plays a vital role in the stock markets because men and women differ in their behavior when investing in stocks. Accordingly, the role of gender differences in investment behavior is an increasingly important strand in the field of behavioral finance research. The investment behaviors of women relative to men have been examined in the behavioral finance literature, mainly for comparison purposes. Women's roles in the stock market have not been examined in the behavioral finance literature, however, particularly with respect to the Arab region. This study aims to contribute towards a better understanding of the investment behavior of Arab women (in regards to their risk tolerance, investment confidence, and investment literacy levels) relative to Arab men; using a sample from Arab women and men investors living in Saudi Arabia and Jordan. In order to achieve the study's main aim, the researcher used non-parametric tests, as Mann-Whitney U test, along with frequency distribution analysis to analyze the study’s primary data. The researcher distributed close-ended online questionnaires to a sample of 550 Arab male and female individuals investing in stocks in both Saudi Arabia and Jordan. The results confirm that the sample Arab women invest less in stocks compared to Arab men due to their risk-averse behaviors and limited confidence levels. The results also reveal that due to Arab women’s very low investment literacy levels, they fear from taking the risk and invest often in stocks relative to Arab men. Overall, the study’s main variables (risk tolerance, investment confidence, and investment literacy levels) have a combined effect on the investment behavior of Arab women and their limited participation in the stock market. Hence, this study is one of the very first studies that indicate the combined effect of the three main variables (which are usually studied separately in the existing literature) on the investment behavior of women, particularly Arab women. This study makes three important contributions to the growing literature on gender differences in investment behavior. First, while the behavioral finance literature documents evidence on gender differences in investment behaviors in many developed countries, there are very limited studies that investigate such differences in Arab countries. Arab women investors, generally, are ignored from the behavioral finance literature due probably to cultural barriers and data collection difficulties. Thus, this study extends the literature to include Arab women and their investment behaviors when trading stock relative to Arab men. Moreover, the study associates women investment literacy and confidence levels with their financial risk behaviors and participation in the stock market. This study provides direct evidence on Arab women's investment behaviors when trading stocks. Overall, studying Arab women investors is important to investigate whether the investment behavior identified for Western women investors are also found in Arab women investors.

Keywords: Arab women, gender differences, investment behavior, stock markets

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Authors: Gerald Abdesaken, Thomas O. Miller

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This paper analyzes the performance of gold as a safe-haven investment. Assuming high market volatility as an impetus to seek a safe haven in gold, the return of gold relative to the stock market, as measured by the S&P 500, is tracked. Using the Chicago Board Options Exchange (CBOE) volatility index (VIX) as a measure of stock market volatility, various criteria are established for when an investor would seek a safe haven to avoid high levels of risk. The results show that in a vast majority of cases, the S&P 500 outperforms gold during these periods of high volatility and suggests investors who seek safe haven are underperforming the market.

Keywords: gold, portfolio management, safe haven, VIX

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Authors: Mario Gómez, José Carlos Rodríguez

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This paper analyzes the Environmental Kuznets Curve (EKC) hypothesis to test the causality relationship between economic activity, trade openness and carbon dioxide emissions in Mexico (1971-2011). The results achieved in this research show that there are three long-run relationships between production, trade openness, energy consumption and carbon dioxide emissions. The EKC hypothesis was not verified in this research. Indeed, it was found evidence of a short-term unidirectional causality from GDP and GDP squared to carbon dioxide emissions, from GDP, GDP squared and TO to EC, and bidirectional causality between TO and GDP. Finally, it was found evidence of long-term unidirectional causality from all variables to carbon emissions. These results suggest that a reduction in energy consumption, economic activity, or an increase in trade openness would reduce pollution.

Keywords: causality, cointegration, energy consumption, economic growth, environmental Kuznets curve

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Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

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The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

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Authors: Jyoti Bharj, Sarabjit Singh, Subhash Chander, Rabinder Singh

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The outstanding mechanical properties of Carbon Nanotubes (CNTs) have generated great interest for their potential as reinforcements in high performance cementitious composites. The main challenge in research is the proper dispersion of carbon nanotubes in the cement matrix. The present work discusses the role of dispersion of Multiwall Carbon Nanotubes (MWCNTs) on the compressive strength characteristics of hydrated Portland IS 1489 cement paste. Cement-MWCNT composites with different mixing techniques were prepared by adding 0.2% (by weight) of MWCNTs to Portland IS 1489 cement. Rectangle specimens of size approximately 40mm × 40mm ×160mm were prepared and curing of samples was done for 7, 14, 28, and 35 days. An appreciable increase in compressive strength with both techniques; mixture of MWCNTs with cement in powder form and mixture of MWCNTs with cement in hydrated form 7 to 28 days of curing time for all the samples was observed.

Keywords: carbon nanotubes, Portland cement, composite, compressive strength

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Authors: R. Niranchana, K. Meena Alias Jeyanthi

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As a result of the present climate change dilemma, the energy balancing strategy is to construct a sustainable environment has become a top concern for researchers worldwide. The environment itself has always been a solution from the earliest days of human evolution. Carbon capture begins with its accurate estimation and monitoring credit inventories, and its efficient use. Sustainable urban planning with deliverables of re-use energy models might benefit from assessment methods like biomass carbon credit ranking. The term "biomass energy" refers to the various ways in which living organisms can potentially be converted into a source of energy. The approaches that can be applied to biomass and an algorithm for evaluating carbon credits are presented in this paper. The micro-climate evaluation using Computational Fluid dynamics was carried out across the location (1 km x1 km) at Dindigul, India (10°24'58.68" North, 77°54.1.80 East). Sustainable Urban design must be carried out considering environmental and physiological convection, conduction, radiation and evaporative heat exchange due to proceeding solar access and wind intensities.

Keywords: biomass, climate assessment, urban planning, multi-regression, carbon estimation algorithm

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Authors: Ghazi R. Reda Mahmoud Reda

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Among the metal that forms hydride´s, Mg and Ti are known as the most lightweight materials; however, they are covered with a passive layer of oxides and hydroxides and require activation treatment under high temperature ( > 300 C ) and hydrogen pressure ( > 3 MPa) before being used for storage and transport applications. It is well known that small graphite addition to Ti or Mg, lead to a dramatic change in the kinetics of mechanically induced hydrogen sorption ( uptake) and significantly stimulate the Ti-Hydrogen interaction. Many explanations were given by different authors to explain the effect of graphite addition on the performance of Ti as material for hydrogen storage. Not only graphite but also the addition of a polycyclic aromatic compound will also improve the hydrogen absorption kinetics. It will be shown that the function of carbon addition is two-fold. First carbon acts as a vacuum cleaner, which scavenges out all the interstitial oxygen that can poison or slow down hydrogen absorption. It is also important to note that oxygen favors the chemisorption of hydrogen, which is not desirable for hydrogen storage. Second, during scavenging of the interstitial oxygen, the carbon reacts with oxygen in the nano and microchannel through a highly exothermic reaction to produce carbon dioxide and monoxide which provide the necessary heat for activation and thus in the presence of carbon lower heat of activation for hydrogen absorption which is observed experimentally. Furthermore, the product of the reaction of hydrogen with the carbon oxide will produce water which due to ball milling hydrolyze to produce the linear H5O2 + this will reconstruct the primary structure of the nanocarbon to form secondary structure, where the primary structure (a sheet of carbon) are connected through hydrogen bonding. It is the space between these sheets where physisorption or defect mediated sorption occurs.

Keywords: metal forming hydrides, polar molecule impurities, titanium, phase diagram, hydrogen absorption

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Authors: P. P. Woyciechowski

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Calculation of the carbon footprint of cement concrete is a complex process including consideration of the phase of primary life (components and concrete production processes, transportation, construction works, maintenance of concrete structures) and secondary life, including demolition and recycling. Taking into consideration the effect of concrete carbonation can lead to a reduction in the calculated carbon footprint of concrete. In this paper, an example of CO₂ balance for small bridge elements made of Portland cement reinforced concrete was done. The results include the effect of carbonation of concrete in a structure and of concrete rubble after demolition. It was shown that important impact of carbonation on the balance is possible only when rubble carbonation is possible. It was related to the fact that only the sequestration potential in the secondary phase of concrete life has significant value.

Keywords: carbon footprint, balance of carbon dioxide in nature, concrete carbonation, the sequestration potential of concrete

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Authors: A. Bahadoran, M. Zomorodian

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The synthesizer of cobalt oxide nanoballs (length 3−4 μm, width 250−400 nm) was achieved by a simple high-temperature supercritical solution method. Multiwalled carbon aerogels are a step towards high-density nanometer-scale nanostructures. Cobalt oxide nanoballs were prepared by supercritical solution method. Synthesis in an aqueous solution containing cobalt hydroxide at ∼80 °C without any further heat treatment at high temperature. The formation of cobalt oxide nanoballs on carbon aerogel was confirmed by X-ray diffraction and Raman spectroscopy. The FE-SEM images showed the presence of cobalt oxide nanoballs. The reaction mechanism of the ultrasound-assisted synthesis of cobalt oxide nanostructures was proposed on the basis of the XRD, X-ray absorption spectroscopy analysis and FE-SEM observation of the reaction products taken during the course of the synthesis.

Keywords: cobalt oxide nano balls, carbon aerogel, synthesize, nanostructure

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Authors: Bireswar Paul, Amitava Datta

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Indoor air environment is a big concern in the last few decades in the developing countries, with increased focus on monitoring the air quality. In this work, an experimental study has been conducted to establish the existence of carbon nanoparticles below the size range of 10 nm in the non-sooting zone of a LPG/air partially premixed flame. Mainly, four optical techniques, UV absorption spectroscopy, fluorescence spectroscopy, dynamic light scattering and TEM have been used to characterize and measure the size of carbon nanoparticles in the sampled materials collected from the inner surface of the flame front. The existence of the carbon nanoparticles in the sampled material has been confirmed with the typical nature of the absorption and fluorescence spectra already reported in the literature. The band gap energy shows that the particles are made up of three to six aromatic rings. The size measurement by DLS technique also shows that the particles below the size range of 10 nm. The results of DLS are also corroborated by the TEM image of the same material. 

Keywords: indoor air, carbon nanoparticle, lpg, partially premixed flame, optical techniques

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Authors: Ahmet Helvaci, Selcuk Dogan

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Reed in especially almost all the lakes in Western Anatolia grows naturally. Due to the abundance of reed, pyrolysis of reed is very economical and practical application. In this study, it is aimed to determine the optimum conditions for the pyrolysis of the reed which is a cheap and abundant raw material and to evaluate pyrolysis products. For this purpose, reed was used obtained from Eber Lake located in the borders of Bolvadin county of Afyonkarahisar. Optimum pyrolysis conditions have been determined by examining the effects of changes in pyrolysis temperature and pyrolysis time. The evaluation of the obtained liquid and solid pyrolysis products has been investigated. Especially evaluability of solid carbon black production of tires has been investigated. Tire samples were prepared with carbon black samples obtained as a result of the pyrolysis process at different temperatures. Then, performance tests were made and compared with reference carbon blacks, used in the market and standards. At the same time, surface area measurement analysis of carbon black samples was made and compared again with reference carbon blacks. In addition, the fuel values of liquid products were also determined by calorimeter. It has been determined that the best surface area (about 370 m²/g) for carbon black samples, for tire production is 40 minutes at 500ᵒC. It was also found that the best result for evaluation studies in tire production was carbon black samples obtained at 450ᵒC pyrolysis temperature. In addition, it was seen that the calorimetry results of the liquid product obtained during 60 minutes of pyrolysis were quite good (around 5500 kcal/kg).

Keywords: evaluation of products, optimization, pyrolysis, reed

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Authors: Hong Yu, Dirk Heider, Suresh Advani

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Increasing demands for high strength and lightweight materials in aircraft industry prompted the wide use of carbon composites in recent decades. Carbon composite laminates used on aircraft structures are subject to lightning strikes. Unlike its metal/alloy counterparts, carbon fiber reinforced composites demonstrate smaller electrical conductivity, yielding more severe damages due to Joule heating. The anisotropic nature of composite laminates makes the electrical and thermal conduction within carbon composite laminates even more complicated. Good understanding of the electrical conduction behavior of carbon composites is the key to effective lightning protection design. The goal of this study is to numerically and experimentally investigate the impact of ultra-high temperature induced by simulated lightning strike on the electrical conduction of carbon composites. A lightning simulator is designed to apply standard lightning current waveform to composite laminates. Multiple carbon composite laminates made from IM7 and AS4 carbon fiber are tested and the transient resistance data is recorded. A microstructure based resistor network model is developed to describe the electrical and thermal conduction behavior, with consideration of temperature dependent material properties. Material degradations such as thermal and electrical breakdown are also modeled to include the effect of high current and high temperature induced by lightning strikes. Good match between the simulation results and experimental data indicates that the developed model captures the major conduction mechanisms. A parametric study is then conducted using the validated model to investigate the effect of system parameters such as fiber volume fraction, inter-ply interface quality, and lightning current waveforms.

Keywords: carbon composite, joule heating, lightning strike, resistor network

Procedia PDF Downloads 205

Authors: Mohammad Azam

Abstract:

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

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

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Authors: Taufik Nugroho, Firsty Dzainuurahmana, Tika Widiastuti

Abstract:

The polemic about the salt crisis re-emerged, this is a classic problem in Indonesia and is still a homework that is not finished yet. This salt crisis occurs due to low productivity of salt commodities that have not been able to meet domestic demand and lack of salt productivity caused by several factors. One of the biggest factors of the crisis is the weather anomaly that disrupts salt production, less supportive technology and price stability. This study will try to discuss the salt scarcity and crisis solution in Islamic view. As for the conclusion of this study is the need for equilibrium or balancing between demand and supply, need to optimize the role of the government as Hisbah to maintain the balance of market mechanisms and prepare the stock system of salt stock by buying farmers products at reasonable prices then storing them.

Keywords: crisis, Islamic solution, scarcity, salt

Procedia PDF Downloads 261

Authors: Lynmar M. Didal, Ramises G. Manzano Jr., Jacque Bon-Isaac C. Aboy

Abstract:

This study analyzes the performance of global minimum variance and naive portfolios across different economic periods, using monthly stock returns from the Philippine Stock Exchange Index (PSEI), S&P 500, and Dow Jones Industrial Average (DOW). The performance is evaluated through the Sharpe ratio, Sortino ratio, Jensen’s Alpha, Treynor ratio, and Information ratio. Additionally, the study investigates the impact of short selling on portfolio performance. Six-time periods are defined for analysis, encompassing events such as the global financial crisis and the COVID-19 pandemic. Findings indicate that the Naive portfolio generally outperforms the GMV portfolio in the S&P 500, signifying higher returns with increased volatility. Conversely, in the PSEI and DOW, the GMV portfolio shows more efficient risk-adjusted returns. Short selling significantly impacts the GMV portfolio during mid-GFC and mid-COVID periods. The study offers insights for investors, suggesting the Naive portfolio for higher risk tolerance and the GMV portfolio as a conservative alternative.

Keywords: portfolio performance, global minimum variance, naïve portfolio, risk-adjusted metrics, short-selling

Procedia PDF Downloads 64

Authors: Joseph Govha, Sharon Mudutu

Abstract:

The research details the treatment of distillery waste water by making use of activated carbon prepared from orange peels as an adsorbent. Adsorption was carried out at different conditions to determine the optimum conditions that work best for the removal of color in distillery waste water using orange peel activated carbon. Adsorption was carried out at different conditions by varying contact time, adsorbent dosage, pH, testing for color intensity and Biological Oxygen Demand. A maximum percentage color removal of 88% was obtained at pH 7 at an adsorbent dosage of 1g/20ml. Maximum adsorption capacity was obtained from the Langmuir isotherm at R2=0.98.

Keywords: distillery, waste water, orange peel, activated carbon, adsorption

Procedia PDF Downloads 267