Search results for: conventional banks

Authors: Tahsin A. H. Nishat, Raquib Ahsan

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Sensitivity analysis of design parameters of the optimization procedure can become a significant factor while designing any structural system. The objectives of the study are to analyze the sensitivity of deck slab thickness parameter obtained from both the conventional and optimum design methodology of pre-stressed post-tensioned I-girder and deck system and to compare the relative significance of slab thickness. For analysis on conventional method, the values of 14 design parameters obtained by the conventional iterative method of design of a real-life I-girder bridge project have been considered. On the other side for analysis on optimization method, cost optimization of this system has been done using global optimization methodology 'Evolutionary Operation (EVOP)'. The problem, by which optimum values of 14 design parameters have been obtained, contains 14 explicit constraints and 46 implicit constraints. For both types of design parameters, sensitivity analysis has been conducted on deck slab thickness parameter which can become too sensitive for the obtained optimum solution. Deviations of slab thickness on both the upper and lower side of its optimum value have been considered reflecting its realistic possible ranges of variations during construction. In this procedure, the remaining parameters have been kept unchanged. For small deviations from the optimum value, compliance with the explicit and implicit constraints has been examined. Variations in the cost have also been estimated. It is obtained that without violating any constraint deck slab thickness obtained by the conventional method can be increased up to 25 mm whereas slab thickness obtained by cost optimization can be increased only up to 0.3 mm. The obtained result suggests that slab thickness becomes less sensitive in case of conventional method of design. Therefore, for realistic design purpose sensitivity should be conducted for any of the design procedure of girder and deck system.

Keywords: sensitivity analysis, optimum design, evolutionary operations, PC I-girder, deck system

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Authors: Thiago Victor Cordeiro Marcos, Joao Felipe de Araujo Martos, Ronaldo de Lima Cardoso, David Romanelli Pinto, Paulo Gilberto de Paula Toro, Israel da Silveira Rego, Antonio Carlos de Oliveira

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Currently, the use of 3D rapid prototyping, also known as 3D printing, has been investigated by some universities around the world as an innovative technique, fast, flexible and cheap for a direct plastic models manufacturing that are lighter and with complex geometries to be tested for hypersonic shock tunnel. Initially, the purpose is integrated prototyped parts with metal models that actually are manufactured through of the conventional machining and hereafter replace them with completely prototyped models. The mechanical design models to be tested in hypersonic shock tunnel are based on conventional manufacturing processes, therefore are limited forms and standard geometries. The use of 3D rapid prototyping offers a range of options that enables geometries innovation and ways to be used for the design new models. The conception and project of a prototyped model for hypersonic shock tunnel should be rethought and adapted when comparing the conventional manufacturing processes, in order to fully exploit the creativity and flexibility that are allowed by the 3D prototyping process. The objective of this paper is to compare the conception and project of a 3D rapid prototyping model and a conventional machining model, while showing the advantages and disadvantages of each process and the benefits that 3D prototyping can bring to the manufacture of models to be tested in hypersonic shock tunnel.

Keywords: 3D printing, 3D prototyping, experimental research, hypersonic shock tunnel

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Authors: Amirreza Heidari, Akram Avami, Ehsan Heidari

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Evaporative cooling systems are known as energy efficient cooling systems, with much lower electricity consumption than conventional vapor compression systems. A serious limitation of these systems, however, is that they are not applicable in humid regions. Combining a desiccant wheel with these systems, known as desiccant-based evaporative cooling systems, makes it possible to use evaporative cooling in humid climates. This paper evaluates the performane of a cooling system combining desiccant wheel, direct and indirect evaporative coolers (called desiccant-based indirect-direct evaporative cooling (DIDE) system) and then evaluates the energy saving potential of this system over the conventional vapor compression cooling and drying system. To illustrate the system ability of providing comfort conditions, a dynamic hourly simulation of this system is performed for a typical 60 m² building in Sydney, Australia. To evaluate the energy saving potential of this system, a conventional cooling and drying system is also simulated for the same cooling capacity. It has been found that the DIE system is able to provide comfort temperature and relative humidity in a subtropical humid climate like Sydney. The electricity and natural gas consumption of this system are respectively 39.2% and 2.6% lower than that of conventional system over a week. As the research has demonstrated, the innovative DIDE system is an energy efficient cooling system for subtropical humid regions.

Keywords: desiccant, evaporative cooling, dehumidification, indirect evaporative cooler

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Authors: Ifeyinwa Ijeoma Obianyo, Luqman Adedeji Taiwo, Olugbenga O. Amu, Azikiwe Peter Onwualu

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Improving the durability of building materials saves maintenance costs, construction time, and energy. In this study, titanium dioxide coated conventional and non-conventional composites were produced, and the effects of titanium dioxide coatings were investigated. Conventional composites were produced using river sand and Portland cement, whereas non-conventional composites were produced by partially replacing river sand and Portland cement with quarry dust and rice husk ash. Water absorption and thickness swelling tests were conducted on the produced coated and non-coated block samples. A reduction in water absorption was observed in the coated composite samples when compared to the non-coated composite samples, and this is an indication of the improved durability of the samples coated with titanium dioxide. However, there was an increase in the thickness swelling of coatings on the coated block samples, but this increase has a slight influence on the compressive strength of the coated samples. The outcome of this study indicates that coating composite building blocks with titanium dioxide will improve theirdurability. Also, the site exposure experiments revealed the self-cleansing properties of TiO2-coated composite block samples, while the Rhodamine B discolouration test confirmed the photocatalytic features of TiO2-coated composite block samples.

Keywords: titanium dioxide, water absorption, durability, mechanical properties, building composite

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Authors: Sujit Kumar Sinha, Madan Lal Regar

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Sewing thread plays an important role in the transformation of a two-dimensional fabric into a three-dimensional garment. The interaction of the sewing thread with the fabric at the seam not only influences the appearance of a garment but also its performance. Careful selection of sewing thread and associated parameters can only help in improvement. Over the years, ring spinning has been dominating the yarn market. In the pursuit of improvement to challenge its dominance alternative technology has also been developed. But no real challenge has been posed by the any of the developed spinning systems. Eli-Twist spinning system can be a new method of yarn manufacture to provide a product with improved mechanical and physical properties with respect to the conventional ring spun yarn. The system, patented by Suessen has gained considerable attention in the recent times. The process of produces a two-ply compact yarn with improved fiber utilization. It produces a novel structure combining all advantages of condensing and doubling. In the present study, sewing threads of three different counts each from cotton, polyester and polyester/cotton (50/50) blend were produced on a ring and Eli-Twist systems. A twist multiplier of 4.2 was used to produce all the yarns. A comparison of hairiness, tensile strength and coefficient of friction with conventional ring yarn was made. Eli-Twist yarn has shown better frictional characteristics, better tensile strength and less hairiness. The performance of the Eli-Twist sewing thread has also been found to be better than the conventional 2-ply sewing thread. The performance was estimated through seam strength, seam elongation and seam efficiency of sewn fabric. Eli-Twist sewing thread has shown less friction, less hairiness, and higher tensile strength. Eli-Twist sewing thread resulted in better seam characteristics in comparison to conventional 2-ply sewing thread.

Keywords: ring spun yarn, Eli-Twist yarn, sewing thread, seam strength, seam elongation, seam efficiency

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Authors: Asanga Gunawansa, Shenella Fonseka

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On-demand bonds, also known as unconditional bonds, are commonplace in the construction industry as a means of safeguarding the employer from any potential non-performance by a contractor. On-demand bonds may be obtained from commercial banks, and they serve as an undertaking by the issuing bank to honour payment on demand without questioning and/or considering any dispute between the employer and the contractor in relation to the underlying contract. Thus, whether or not a breach had occurred under the underlying contract, which triggers the demand for encashment by the employer, is not a question the bank needs to be concerned with. As a result, an unconditional bond allows the beneficiary to claim the money almost without any condition. Thus, an unconditional bond is as good as cash-in-hand. In the past, establishing fraud on the part of the employer, of which the bank had knowledge, was the only ground on which a bank could dishonour a claim made under an on-demand bond. However, recent jurisprudence in common law countries shows that courts are beginning to consider unconscionable conduct on the part of the employer in claiming under an on-demand bond as a ground that contractors could rely on the prevent the banks from honouring such claims. This has created uncertainty in connection with on-demand bonds and their liquidity. This paper analyzes recent judicial decisions in four common law jurisdictions, namely, England, Singapore, Hong Kong, and Sri Lanka, to identify the scope of using the concept of “unconscionability” as a ground for preventing unreasonable claims for encashment of on-demand bonds. The objective of this paper is to argue that on-demand bonds have lost their effectiveness as “cash-in-hand” and that this is, in fact, an advantage and not an impediment to international commerce, as the purpose of such bonds should not be to provide for illegal and unconscionable conduct by the beneficiaries.

Keywords: fraud, performance guarantees, on-demand bonds, unconscionability

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Authors: Jae-Hyun Ro, Yong-Jun Kim, Chang-Bin Ha, Hyoung-Kyu Song

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In multiple input multiple output-orthogonal frequency division multiplexing (MIMO-OFDM) systems, many detection schemes have been developed to improve the error performance and to reduce the complexity. Maximum likelihood (ML) detection has optimal error performance but it has very high complexity. Thus, this paper proposes reduced complexity of ML detection combined with decision feedback equalizer (DFE). The error performance of the proposed detection scheme is higher than the conventional DFE. But the complexity of the proposed scheme is lower than the conventional ML detection.

Keywords: detection, DFE, MIMO-OFDM, ML

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Authors: Krish Batra

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The advent of open banking has revolutionized the financial services industry by fostering innovation, enhancing customer experience, and promoting competition. However, this paradigm shift towards more open and interconnected banking ecosystems has introduced complex cybersecurity challenges. This research paper delves into the multifaceted cybersecurity landscape of open banking, highlighting the vulnerabilities and threats inherent in sharing financial data across a network of banks and third-party providers. Through a detailed analysis of recent data breaches, phishing attacks, and other cyber incidents, the paper assesses the current state of cybersecurity within the open banking framework. It examines the effectiveness of existing security measures, such as encryption, API security protocols, and authentication mechanisms, in protecting sensitive financial information. Furthermore, the paper explores the regulatory response to these challenges, including the implementation of standards such as PSD2 in Europe and similar initiatives globally. By identifying gaps in current cybersecurity practices, the research aims to propose a set of robust, forward-looking strategies that can enhance the security and resilience of open banking systems. This includes recommendations for banks, third-party providers, regulators, and consumers on how to mitigate risks and ensure a secure open banking environment. The ultimate goal is to provide stakeholders with a comprehensive understanding of the cybersecurity implications of open banking and to outline actionable steps for safeguarding the financial ecosystem in an increasingly interconnected world.

Keywords: open banking, financial services industry, cybersecurity challenges, data breaches, phishing attacks, encryption, API security protocols, authentication mechanisms, regulatory response, PSD2, cybersecurity practices

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Authors: Subhan Ahmad, Pradeep Bhargava, Ajay Chourasia

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Shear failure in reinforced concrete beams without shear reinforcement leads to loss of property and life since a very little or no warning occurs before failure as in case of flexural failure. Shear strength of reinforced concrete beams decreases as its depth increases. This phenomenon is generally called as the size effect. In this paper, a comparative analysis is performed to estimate the performance of shear strength models in capturing the size effect of reinforced concrete beams made with conventional concrete, self-compacting concrete, and recycled aggregate concrete. Four shear strength models that account for the size effect in shear are selected from the literature and applied on the datasets of slender reinforced concrete beams. Beams prepared with conventional concrete, self-compacting concrete, and recycled aggregate concrete are considered for the analysis. Results showed that all the four models captured the size effect in shear effectively and produced conservative estimates of the shear strength for beams made with normal strength conventional concrete. These models yielded unconservative estimates for high strength conventional concrete beams with larger effective depths ( > 450 mm). Model of Bazant and Kim (1984) captured the size effect precisely and produced conservative estimates of shear strength of self-compacting concrete beams at all the effective depths. Also, shear strength models considered in this study produced unconservative estimates of shear strength for recycled aggregate concrete beams at all effective depths.

Keywords: reinforced concrete beams; shear strength; prediction models; size effect

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Authors: Habte Tadesse Likassa, Bacha Edosa

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Customer’s satisfaction was very important thing that is required for the existence of banks to be more productive and success in any organization and business area. The main goal of the study is assessing and identifying factors that influence customer’s satisfaction in West Shoa Zone of Commercial Bank of Ethiopia (Holeta, Ginchi, Ambo, Gedo and Bako). Stratified random sampling procedure was used in the study and by using simple random sampling (lottery method) 520 customers were drawn from the target population. By using Probability Proportional Size Techniques sample size for each branch of banks were allocated. Both descriptive and inferential statistics methods were used in the study. A binary logistic regression model was fitted to see the significance of factors affecting customer’s satisfaction in this study. SPSS statistical package was used for data analysis. The result of the study reveals that the overall level of customer’s satisfaction in the study area is low (38.85%) as compared those who were not satisfied (61.15%). The result of study showed that all most all factors included in the study were significantly associated with customer’s satisfaction. Therefore, it can be concluded that based on the comparison of branches on their customers satisfaction by using odd ratio customers who were using Ambo and Bako are less satisfied as compared to customers who were in Holeta branch. Additionally, customers who were in Ginchi and Gedo were more satisfied than that of customers who were in Holeta. Since the level of customers satisfaction was low in the study area, it is more advisable and recommended for concerned body works cooperatively more in maximizing satisfaction of their customers.

Keywords: customers, satisfaction, binary logistic, complain handling process, waiting time

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Authors: Keunhong Chae, Seokho Yoon

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This paper proposes a cooperative Alamouti space time transmission scheme with low relay complexity for the cooperative communication systems. In the proposed scheme, the source node combines the data symbols to construct the Alamouti-coded form at the destination node, while the conventional scheme performs the corresponding operations at the relay nodes. In simulation results, it is shown that the proposed scheme achieves the second order cooperative diversity while maintaining the same bit error rate (BER) performance as that of the conventional scheme.

Keywords: Space-time transmission, cooperative communication system, MIMO.

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Authors: Randa Ismail Sharafeddine

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The Islamic economic system is distinctive in that it implicitly recognizes money as a separate, independent component of production capable of assuming risk and so entitled to the same reward as other Entrepreneurial Factors of Production (EFP). Conventional theory does not identify money capital explicitly as a component of production; rather, interest is recognized as a reward for capital, the interest rate is the cost of money capital, and it is also seen as a cost of physical capital. The conventional theory of production examines how diverse non-entrepreneurial resources (Land, Labor, and Capital) are selected; however, the economic theory community is largely unaware of the reasons why these resources choose to remain as non-entrepreneurial resources as opposed to becoming entrepreneurial resources. Should land, labor, and financial asset owners choose to work for others in return for rent, income, or interest, or should they engage in entrepreneurial risk-taking in order to profit. This is a decision made often in the actual world, but it has never been effectively treated in economic theory. This article will conduct a critical analysis of the conventional classification of factors of production and propose a classification for resource allocation and income distribution (Rent, Wages, Interest, and Profits) that is more rational, even within the conventional theoretical framework for evaluating and developing production and distribution theories. Money is an essential component of production in an Islamic economy, and it must be used to sustain economic activity.

Keywords: financial capital, production theory, distribution theory, economic activity, riba avoidance, institution of participation

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Authors: Chang-Bin Ha, Yong-Jun Kim, Dong-Hyun Ha, Hyoung-Kyu Song

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The conventional Wi-Fi back scatter system can only process one-to-one communication between the Wi-Fi reader and the Wi-Fi tag. For improvement of throughput of the conventional system, this paper proposes the multi-to-multi communication system. In the proposed system, the interference by the multi-to-multi communication is effectively cancelled by the orthogonal multiple access based on the identification code of the tag. Although the overhead is generated by the procedure for the multi-to-multi communication, because the procedure is processed by the Wi-Fi protocol, the overhead is insignificant for the entire communication procedure. From the numerical results, it is confirmed that the proposed system has nearly proportional increased throughput in according to the number of the tag that simultaneously participates in communication.

Keywords: backscatter, multi-to-multi communication, orthogonality, Wi-Fi

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Authors: Hina Munir Abbasi

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The current paper examines the relationship and diversification ability of Islamic stock indices /conventional stocks indices and Real Estate Investment Trust (REITs).To represent conditional dependency between stocks and REITs in a more realistic way, new modeling technique, time-varying copula with switching dependence is used. It represents reliance structure more accurately and realistically than a single copula regime as dependence may alter between positive and negative correlation regimes with time. The fluctuating behavior of markets has significant impact on economic variables; especially the downward trend during crisis. Overall addition of Real Estate Investment Trust in stocks portfolio reduces risks and provide better diversification benefit. Results varied depending upon the circumstances of the country. REITs provides better diversification benefits for Islamic Stocks, when both markets are bearish and can provide hedging benefit for conventional stocks portfolio.

Keywords: conventional stocks, real estate investment trust, copula, diversification, risk spillover, safe heaven

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Authors: Ajay Wadhwa

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A Laboratory course on computational physics is different from the conventional lab course on other topics of physics like Mechanics, Heat, Optics, etc. because it involves active participation of the teacher as well as one-to-one interaction between teacher and the student. The course content requires the teacher to teach programming language as well as numerical methods along with their applications in physics. The task becomes more daunting when about 90% of the students in the class have no previous experience of any programming language. In the presented work, we have described a methodology for conducting the computational physics course by using the Google Drive and Dropitto.me cloud storage services. We have evaluated the performance in a class of sixty students by dividing them equally into four groups. One of the groups was made the peer group on whom the presented methodology was tested. The other groups were taught by using conventional method of classroom lectures. In order to assess our methodology, we analyzed the performance of students in four class tests. A study of certain statistical parameters like the mean, standard deviation, and Z-test hypothesis revealed that the cyber methodology based on cloud storage is more efficient than the conventional method of teaching.

Keywords: computational Physics, Z-test hypothesis, cloud storage, Google drive

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Authors: Neelesh Papineni

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Aim: Piezosurgery is a relatively new technique for osteotomy and osteoplasty that uses ultrasonic vibration. The conventional method of treating periodontal cases are by conventional surgeries. However, in this advancing field the use of motor-driven instruments is being considered less invasive. Out of these motor-driven instruments, piezo-electric device has been introduced to the field of periodontics and oral implantology. This article discusses about the wide range of application of piezo-electric device in periodontology, its advantages over conventional surgical therapies and other motor-driven instruments. Results: Piezo- electric has shown better results in aspect of osteotomy, osteoplasty, implants, and any procedure which includes conserving the bone. Also piezo-electric does not cause any kind of damage to the surrounding soft tissue and eliminates the risk of bone necrosis which is a risk factor in other motor driven instruments. Conclusion: In this era of modern dentistry , a successful periodontal and implant surgery requires a sound osseous support. This review gives a pictorial representation about the wide range of application of piezo-electric device in periodontology.

Keywords: piezo-electric, osteotomy, osteoplasty, implantology

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Authors: Ayfer Kilicarslan, Kubra Onol, Sercan Basit, Muhlis Nezihi Saridede

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Chalcopyrite (CuFeS2) is the most common primary mineral used for the commercial production of copper. The low dissolution efficiency of chalcopyrite in sulfate media has prevented an efficient industrial leaching of this mineral in sulfate media. Ferric ions, bacteria, oxygen and other oxidants have been used as oxidizing agents in the leaching of chalcopyrite in sulfate and chloride media under atmospheric or pressure leaching conditions. Two leaching methods were studied to evaluate chalcopyrite (CuFeS2) dissolution in acid media. First, the conventional oxidative acid leaching method was carried out using sulfuric acid (H2SO4) and potassium dichromate (K2Cr2O7) as oxidant at atmospheric pressure. Second, microwave-assisted acid leaching was performed using the microwave accelerated reaction system (MARS) for same reaction media. Parameters affecting the copper extraction such as leaching time, leaching temperature, concentration of H2SO4 and concentration of K2Cr2O7 were investigated. The results of conventional acid leaching experiments were compared to the microwave leaching method. It was found that the copper extraction obtained under high temperature and high concentrations of oxidant with microwave leaching is higher than those obtained conventionally. 81% copper extraction was obtained by the conventional oxidative acid leaching method in 180 min, with the concentration of 0.3 mol/L K2Cr2O7 in 0.5M H2SO4 at 50 ºC, while 93.5% copper extraction was obtained in 60 min with microwave leaching method under same conditions.

Keywords: extraction, copper, microwave-assisted leaching, chalcopyrite, potassium dichromate

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European, policy evaluation, power sector investment, technology choices

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Authors: Aleksandra Szunke

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Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

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Authors: Nadeem A. Kizilbash

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The study aimed to compare the histopathological characterization of prostate cancer using the conventional and 2005 ISUP modified Gleason system. It employed samples from 40 prostate cancer patients employing resection, biopsies and RP. The majority of cases (95%) comprised adenocarcinoma of the prostate. The results showed that there is migration or upgrading of scores to higher values on using the 2005 ISUP modified Gleason system and an increase in a score of 7 in more than 45% of the cases.

Keywords: prostate cancer, conventional gleason grading, 2005 ISUP modified gleason system, histopathology

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Authors: Anwar Adem

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Purpose: This study aimed to examine the socioeconomic, religious, and institutional factors affecting customers towards Islamic Banking in Ethiopia. Design/methodology/approach: This study employed a partial Least Square -structural equation modelling (PLS-SEM) to analyse survey data collected from Customer of Islamic Banking in Ethiopia in the capital city Addis Ababa, using a structured questionnaire with a 5-point Likert scale. Convenience and snowball sampling were used to obtain a broad sample of respondents. The sample size was 310. Findings: The findings indicate that Zakat literacy, high religiosity level, Islamic Bank Service Quality, and Awareness about Islamic Banking operations significantly influence customers' preference towards Islamic banking in Ethiopia. However, competitive pricing was found to have an insignificant effect on customers' preference for Islamic banking in this context. Practical implications: These findings underscore the need for the Islamic banking industry should initiate comprehensive awareness campaigns to promote Islamic banking products and their alignment with human welfare and adherence to Shariah principles. These campaigns should be conducted collaboratively by Islamic banks in partnership with renowned religious scholars from the respective region or territory to ensure maximum effectiveness. Additionally, policymakers, regulatory bodies, and particularly higher education institutions should foster a robust understanding of Islamic finance principles and products among consumers. Originality/value: This study provides unique insights into the determinants that shape customers' preference towards Islamic Banking in Ethiopia. The findings provide a foundation for developing superior quality of service delivery by Islamic banks that aligns with Ethiopia’s sociocultural dynamics.

Keywords: Zakat literacy, religiosity, customer preference, awareness

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Authors: Inese Tenberga

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Undoubtedly, the focus of the present capitalist system of finance has shifted from the concept of productivity of money to the ‘cult of money’, which is characterized by such notions as speculative activity, squander, self-profit, vested interest, etc. The author is certain that a civilized society cannot follow this economic path any longer and therefore suggests that one solution would be to integrate the Islamic financial model in the banking sector of the EU to overcome its economic vulnerability and structurally transform its economies or build resilience against shocks and crisis. The researcher analyses the Islamic financial model, which is providing the basis for the concept of non-productivity of money, and proposes to consider it as a new paradigm of economic thinking. The author argues that it seeks to establish a broad-based economic well-being with an optimum rate of economic growth, socio-economic justice, equitable distribution of income and wealth. Furthermore, the author analyses and proposes to use the experience of member states of the Islamic Development Bank for the formation of a new EU interest free banking. It is offered to create within the EU banking system a credit sector and investment sector respectively. As a part of the latter, it is recommended to separate investment banks specializing in speculative investments and non­speculative investment banks. Meanwhile, understanding of the idea of Islamic banking exclusively from the perspective of the manner of yielding profit that differs from credit banking, without considering the legal, social, ethical guidelines of Islam impedes to value objectively the advantages of this type of financial activities at the non-Islamic jurisdictions. However, the author comes to the conclusion the imperative of justice and virtue, which is inherent to all of us, exists regardless of religion. The author concludes that the global community should adopt the experience of the Muslim countries and focus on the Islamic banking model.

Keywords: credit sector, EU banking system, investment sector, Islamic banking

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Authors: S. P. Sharma, Som Nath Saha

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This paper presents the performance, based on exergy analysis of double flow solar air heaters with corrugated and flat plate absorber. A mathematical model of double flow solar air heater based on energy balance equations has been presented and the results obtained have been compared with that of a conventional flat-plate solar air heater. The double flow corrugated absorber solar air heater performs thermally better than the flat plate double flow and conventional flat-plate solar air heater under same operating conditions. However, the corrugated absorber leads to higher pressure drop thereby increasing pumping power. The results revealed that the energy and exergy efficiencies of double flow corrugated absorber solar air heater is much higher than conventional solar air heater with the concept involving of increase in heat transfer surface area and turbulence in air flow. The results indicate that the energy efficiency increases, however, exergy efficiency decreases with increase in mass flow rate.

Keywords: corrugated absorber, double flow, exergy efficiency, solar air heater

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Authors: Joel S. Akintayo, Ramat T. Salman

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The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the influence of audit tenure, audit fee, board independence, and board size on earnings management of DMBs. Explanatory research design was employed in carrying out the study while secondary data were sourced from the annual reports and accounts of all the 15 quoted DMBs in Nigerian Stock Exchange as at December 31, 2015 for a period of 10 years covering from 2006 to 2015. The data obtained for the study were analyzed using panel regression analysis approach. The findings reveal that board independence has a negative significant effect on earnings management at a 5% level of significance (p=0.002), while audit fee has a positive significant effect on earnings management at a 5% level of significance (p=0.013) and audit tenure has a negative significant effect on earnings management of DMBs at a 5% level of significance (p=0.003). Surprisingly, board size was statistically not significant at a 5% level of significance (p=0.086). The study concludes that high audit quality and sound corporate governance could improve the earnings quality of DMBs. Hence, the study recommends that the authorities saddled with the responsibility of banking supervision in Nigeria such the Securities and Exchange Commission (SEC) and CBN to advise the National Assembly in Nigeria to pass into law the three years professional requirement for audit tenure.

Keywords: audit quality, audit tenure, audit fee, board independence, corporate governance, earnings management

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Authors: Keunhong Chae, Seokho Yoon

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We propose a code acquisition scheme called improved multiple-shift (IMS) for optical code division multiple access systems, where the optical orthogonal code is used instead of the pseudo noise code. Although the IMS algorithm has a similar process to that of the conventional MS algorithm, it has a better code acquisition performance than the conventional MS algorithm. We analyze the code acquisition performance of the IMS algorithm and compare the code acquisition performances of the MS and the IMS algorithms in single-user and multi-user environments.

Keywords: code acquisition, optical CDMA, optical orthogonal code, serial algorithm

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Authors: Muhammd Usman Sardar, Mazhar Hussain Baloch, Muhammad Shahbaz Ahmad, Zahir Javed Paracha

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Likewise other developing countries in the world, Pakistan is furthermore suffering from electrical energy deficiency as adverse well-being nominated. Its generation of electricity has become reliant onto a great range of conventional sources since the last ten of years. The foreseeable exhaustion of petroleum and conventional resources will be alarming in continued growth and development for future in Pakistan so renewable energy interchange have to be employed by interesting the majority of power grid network. Energy adding-up through solar photovoltaic based systems and projects can offset the shortfall to such an extent with this sustainable natural resources and most promising technologies. An assessment of solar energy potential for electricity generation is being presented for fulfilling the energy demands with higher level of reliability. This research study estimates the present and future approaching renewable energy resource for power generation to off-grid independent setup or energizing the existed conventional power grids of Pakistan to becoming self-sustained for its entire outfit.

Keywords: powergrid network, solar photovoltaic setups, solar power generation, solar energy technology

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Authors: Michael Kassner

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Elevated-temperature creep tests were performed on additively manufactured (AM) Inconel 625 over a relatively wide range of stress. The behavior was compared to conventional wrought alloy. It was found that the steady-state creep rates of the AM alloys were comparable, or even more favorable, than that of the wrought Inconel. However, the ductility of the AM alloy was significantly less than the wrought alloy. The ductility however was recovered with hot isostatic pressing (HIP) of the AM specimens. The basis for the loss and recovery of the ductility will be discussed in terms of the differences in the details of the microstructures. In summary, it appears that HIP AM Inconel 625, over the long-term testing of a year, has very favorable mechanical properties compared to the conventional alloy.

Keywords: Inconel, creep, additive, manufacturing

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Authors: Michelo Obrey

Abstract:

Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

Procedia PDF Downloads 196

Authors: Ahmed N. Shmroukh

Abstract:

This study examined a new solar still equipped with a movable inclined back, and this back is covered with a wick for seawater desalination. The tested backside inclination angles were 105, 125 and 160, respectively. The wick helped in increasing the seawater evaporation rate by increasing the evaporation surface area allowed for seawater in the still basin. The proposed modified solar still was compared with the conventional simple still. The results showed that the daily produced desalinated water of the modified solar still with angles 105, 125 and 160 increased by approximately 13.7%, 27.9%, and 39.2%, respectively, compared with the conventional solar still.

Keywords: solar still, inclined still, porous materials, Wick

Procedia PDF Downloads 72

Authors: Nada Azhar

Abstract:

The aim of the paper is to investigate the effect of corporate social responsibility (CSR) CSR on the National Commercial Bank (NCB) in Saudi Arabia. In order to achieve this, a case study was made of the CSR activities of this bank from the perspective of its branch managers. The NCB was chosen as it was one of the first Saudi banks to engage in CSR and currently has a wide range of CSR initiatives. A qualitative research method was used. Open-ended questionnaires were administered to eighty branch managers of the NCB, with fifty-five usable questionnaires returned and twenty managers were interviewed as part of the primary research. Data from both questionnaires and interviews were analysed using qualitative content analysis. Six themes emerged from the questionnaire findings were used to develop the interview questions. These themes are the following: Awareness of employees about CSR in the NCB; CSR activities as a type of investment; Government and media support; Increased employee loyalty in the NCB; Prestige and profit to the NCB; and View of CSR in Islam. This paper makes a theoretical contribution in that it investigates and increases understanding of the effect of CSR on the NCB in Saudi Arabia. In addition, it makes a practical contribution by making recommendations which can support the development of CSR in the NCB. A limitation of the paper is that it is a case study of only one bank. It is therefore recommended that future research could be conducted with other banks in Saudi Arabia, or indeed, with a range of other types of firm within the financial services area in Saudi Arabia. In this way, the same issues could be explored but with a greater potential generalisability of findings of CSR within the Saudi Arabian financial services industry. In addition, this paper takes a qualitative approach and it is suggested that future research be carried out using mixed methods, which could provide a greater depth of analysis.

Keywords: branch managers, corporate social responsibility, national commercial bank, Saudi Arabia

Procedia PDF Downloads 259