Search results for: long term investment

Authors: Safak Isik, Ozalp Vayvay

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Strategic partnerships with suppliers play a vital role for the long-term value-based supply chain. This strategic collaboration keeps still being one of the top priority of many business organizations in order to create more additional value; benefiting mainly from supplier’s specialization, capacity and innovative power, securing supply and better managing costs and quality. However, many organizations encounter difficulties in initiating, developing and managing those partnerships and many attempts result in failures. One of the reasons for such failure is the incompatibility of members of this partnership or in other words wrong supplier selection which emphasize the significance of the selection process since it is the beginning stage. An effective selection process of strategic suppliers is critical to the success of the partnership. Although there are several research studies to select the suppliers in literature, only a few of them is related to strategic supplier selection for long-term partnership. The purpose of this study is to propose a conceptual model for the selection of strategic partnership suppliers. A two-stage approach has been used in proposed model incorporating first segmentation and second selection. In the first stage; considering the fact that not all suppliers are strategically equal and instead of a long list of potential suppliers, Kraljic’s purchasing portfolio matrix can be used for segmentation. This supplier segmentation is the process of categorizing suppliers based on a defined set of criteria in order to identify types of suppliers and determine potential suppliers for strategic partnership. In the second stage, from a pool of potential suppliers defined at first phase, a comprehensive evaluation and selection can be performed to finally define strategic suppliers considering various tangible and intangible criteria. Since a long-term relationship with strategic suppliers is anticipated, criteria should consider both current and future status of the supplier. Based on an extensive literature review; strategical, operational and organizational criteria have been determined and elaborated. The result of the selection can also be used to determine suppliers who are not ready for a partnership but to be developed for strategic partnership. Since the model is based on multiple criteria for both stages, it provides a framework for further utilization of Multi-Criteria Decision Making (MCDM) techniques. The model may also be applied to a wide range of industries and involve managerial features in business organizations.

Keywords: Kraljic’s matrix, purchasing portfolio, strategic supplier selection, supplier collaboration, supplier partnership, supplier segmentation

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Authors: Yolina A. Petrova, Georgi I. Petkov

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The paper presents a symbolic model for category learning and categorization (called RoleMap). Unlike the other models which implement learning in a separate working mode, role-governed category learning and categorization emerge in RoleMap while it does its usual reasoning. The model is based on several basic mechanisms known as reflecting the sub-processes of analogy-making. It steps on the assumption that in their everyday life people constantly compare what they experience and what they know. Various commonalities between the incoming information (current experience) and the stored one (long-term memory) emerge from those comparisons. Some of those commonalities are considered to be highly important, and they are transformed into concepts for further use. This process denotes the category learning. When there is missing knowledge in the incoming information (i.e. the perceived object is still not recognized), the model makes anticipations about what is missing, based on the similar episodes from its long-term memory. Various such anticipations may emerge for different reasons. However, with time only one of them wins and is transformed into a category member. This process denotes the act of categorization.

Keywords: analogy-making, categorization, category learning, cognitive modeling, role-governed categories

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Authors: Louis Hickman

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Stakeholder theory is a powerful conception of the firm based on the notion that a primary focus on shareholders is inadequate and, in fact, detrimental to the long-term health of the firm. As such it represents a departure from prevalent business school teachings with their focus on accounting and cost controls. Herein, it is argued that stakeholder theory can be better conceptualized as a critical theory, or one which represents a fundamental change in business behavior and can transform the behavior of businesses if accepted. By arguing that financial interests underdetermine the success of the firm, stakeholder theory further democratizes business by endorsing an increased awareness of the importance of non-shareholder stakeholders. Stakeholder theory requires new, non-financial, measures of success that provide a new consciousness for management and businesses when conceiving their actions and place in society. Thereby, stakeholder theory can show individuals through self-reflection that the capitalist impulses to generate wealth cannot act as primary drivers of business behavior, but rather, that we would choose to support interests outside ourselves if we made the decision in free discussion. This is due to the false consciousness embedded in our capitalism that the firm’s finances are the foremost concern of modern organizations at the expense of other goals. A focus on non-shareholder stakeholders in addition to shareholders generates greater benefits for society by improving the state of customers, employees, suppliers, the community, and shareholders alike. These positive effects generate further positive gains in well-being for stakeholders and translate into increased health for the future firm. Additionally, shareholders are the only stakeholder group that does not provide long-term firm value since there are not always communities with qualified employees, suppliers capable of providing the quality of product needed, or persons with purchasing power for all conceivable products. Therefore, the firm’s long-term health is benefited most greatly by improving the greatest possible parts of the society in which it inhabits, rather than solely the shareholder.

Keywords: capitalism, critical theory, self-reflection, stakeholder theory

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Authors: Behnoush Sabayan, Ali Alidadi, Saeid Ebarhimi, N. M. Bakhshani

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Hemodialysis (HD) patients are at a high risk of atherosclerotic and vascular disease; also little information is available for the HD impact on brain structure of these patients. We studied the brain abnormalities in HD patients. The aim of this study was to investigate the effect of long term HD on brain structure of HD patients. Non-contrast MRI was used to evaluate imaging findings. Our study included 80 HD patients of whom 39 had less than six months of HD and 41 patients had a history of HD more than six months. The population had a mean age of 51.60 years old and 27.5% were female. According to study, HD patients who have been hemodialyzed for a long time (median time of HD was up to 4 years) had small vessel ischemia than the HD patients who underwent HD for a shorter term, which the median time was 3 to 5 months. Most of the small vessel ischemia was located in pre-ventricular, subcortical and white matter (1.33± .471, 1.23± .420 and 1.39±.490). However, the other brain damages like: central pons abnormality, global brain atrophy, thinning of corpus callosum and frontal lobe atrophy were found (P<0.01). The present study demonstrated that HD patients who were under HD for a longer time had small vessel ischemia and we conclude that this small vessel ischemia might be a causative mechanism of brain atrophy in chronic hemodialysis patients. However, additional researches are needed in this area.

Keywords: Hemodialysis Patients, Duration of Hemodialysis, MRI, Zahedan

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Authors: Attapon Kamlangdee, Brock Kingstad-Bakke, Tavis K. Anderson, Tony L. Goldberg, Jorge E. Osorio

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A critical failure in our preparedness for an influenza pandemic is the lack of a universal vaccine. Influenza virus strains diverge by 1 to 2% per year, and commercially available vaccines often do not elicit protection from one year to the next, necessitating frequent formulation changes. This represents a major challenge to the development of a cross-protective vaccine that can protect against circulating viral antigenic diversity. We have constructed a recombinant modified vaccinia virus Ankara (MVA) that expresses an H5N1 mosaic hemagglutinin (H5M) (MVA-H5M). This mosaic was generated in silico using 2,145 field-sourced H5N1 isolates. A single dose of MVA-H5M provided 100% protection in mice against clade 0, 1, and 2 avian influenza viruses and also protected against seasonal H1N1 virus (A/Puerto Rico/8/34). It also provided short-term (10 days) and long-term (6 months) protection post vaccination. Both neutralizing antibodies and antigen-specific CD4+and CD8+ T cells were still detected at 5 months post vaccination, suggesting that MVA-H5M provides long-lasting immunity.

Keywords: modified vaccinia Ankara, MVA, H5N1, hemagglutinin, influenza vaccine

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Authors: Davoud Maleki

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Today, education and investment in human capital is a long-term investment without which the economy will be stagnant Stayed. Higher education represents a type of investment in human resources by providing and improving knowledge, skills and Attitudes help economic development. Providing efficient human resources by increasing the efficiency and productivity of people and on the other hand with Expanding the boundaries of knowledge and technology and promoting technology such as the responsibility of training human resources and increasing productivity and efficiency in High specialized levels are the responsibility of universities. Therefore, the university plays an infrastructural role in economic development and growth because education by creating skills and expertise in people and improving their ability.In recent decades, Iran's higher education system has been faced with many problems, therefore, scholars have looked for it is to identify and validate the causal factors affecting the responsiveness and productivity of non-governmental universities. The data in the qualitative part is the result of semi-structured interviews with 25 senior and middle managers working in the units It was Islamic Azad University of Tehran province, which was selected by theoretical sampling method. In data analysis, stepwise method and Analytical techniques of Strauss and Corbin (1992) were used. After determining the central category (answering for the sake of the beneficiaries) and using it in order to bring the categories, expressions and ideas that express the relationships between the main categories and In the end, six main categories were identified as causal factors affecting the university's responsiveness and productivity.They are: 1- Scientism 2- Human resources 3- Creating motivation in the university 4- Development based on needs assessment 5- Teaching process and Learning 6- University quality evaluation. In order to validate the response model obtained from the qualitative stage, a questionnaire The questionnaire was prepared and the answers of 146 students of Master's degree and Doctorate of Islamic Azad University located in Tehran province were received. Quantitative data in the form of descriptive data analysis, first and second stage factor analysis using SPSS and Amos23 software were analyzed. The findings of the research indicated the relationship between the central category and the causal factors affecting the response The results of the model test in the quantitative stage confirmed the generality of the conceptual model.

Keywords: accountability, productivity, non-governmental, universities, foundation data theory

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Authors: Chung-Nan Lee, Sheng-Wei Chu, You-Chiun Wang

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LTE (Long Term Evolution) employs the eMBMS (evolved Multimedia Broadcast/Multicast Service) protocol to deliver video streams to a multicast group of users. However, it requires all multicast members to receive a video stream in the same transmission rate, which would degrade the overall service quality when some users encounter bad channel conditions. To overcome this problem, this paper provides two efficient resource allocation schemes in such LTE network: The symbol synchronization (S2) scheme assumes that the macro and pico eNodeBs use the same frequency channel to deliver the video stream to all users. It then adopts a multicast transmission index to guarantee the fairness among users. On the other hand, the resource reuse (R2) scheme allows eNodeBs to transmit data on different frequency channels. Then, by introducing the concept of frequency reuse, it can further improve the overall service quality. Extensive simulation results show that the S2 and R2 schemes can respectively improve around 50% of fairness and 14% of video quality as compared with the common maximum throughput method.

Keywords: LTE networks, multicast, resource allocation, layered video

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Authors: Jagna Mucha, Anna Kańciak

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The concept of good governance constitutes a wide perspective for academic discussion, because it provides a substantial theoretical background for settling many practical problems faced contemporarily by the EU. The basic assumptions of good governance have basically remained unchanged since the 90’s, when the concept was introduced by the World Bank, although the scholarly discussions reveal new facets of the said concept, when related to specific domains. The paper discusses the application of the specific elements of the concept of good governance in the field of the international investment law. Specifically, it seeks to demonstrate that the concept of good governance regulates the issue of international investments in that, among others, it requires the application of the alternative dispute resolution in order to make the investment law enforceable in the best possible way.

Keywords: dispute resolution, european union, investments, good governance

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Authors: Anna Triwijayati, Etsa Astridya Setiyati, Titik Desi Harsoyo

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Culture is the important determinant of human behavior and desire. Culture influences the consumer through the norms and values established by the society in which they live and reflect it. The cultural values of Javanese society certainly have united in the Javanese society behavior in consumption. This research is expected to give big enough theoretical benefits in the findings of cultural value in consumption in Javanese society. These can be an incentive in finding the local cultural value in many tribes in Indonesia, so one time, the local cultural value in Indonesia about consumption can be fundamental part in education and consumption practice in Indonesia. The approach used in this research is non positivist research or is known as qualitative approach. The method or type of research used in this research is ethnomethodology. The collection data is done in Central Java region. The research subject or informant is determined by the purposive technique by certain criteria determined by the researcher. The data is collected by deep interview and observation. Before the data analysis, the researcher does the storing method data stage and implements the data validity procedures. Then, the data is analyzed by the theme and interactive analysis technique. The Javanese Mataraman society has such consumption values such as has to be sufficient, be careful, economical, submit to the one who creates the life, the way life flow, and the present problem is thought in the present also. In the financial management for consumption, the consumer should have the simple life principles, has to be sufficient, has to be able to eat, has to be able to self-press, well-managed/diligent/accurate/careful, the open or transparent management, has the struggle effort, like to self-sacrifice and think about the future. The meaning of consumption value in family is centered to the submission and full-trust to God. These consumption values are applied in consumer behavior in self, family, investment and credit need in short term and long term perspective.

Keywords: values, consumer, consumption, Javanese Mataraman, ethnomethodology

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Authors: Chakkrit Poonpakdee, Jing-Hua Tzen, Ya-Zhen Huang, Yao-Tung Lin

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Potassium (K) is a known macro nutrient and essential element for plant growth. Single leaching and modified sequential extraction schemes have been developed to estimate the relative phase associations of soil samples. The sequential extraction process is a step in analyzing the partitioning of metals affected by environmental conditions, but it is not a tool for estimation of K bioavailability. While, traditional single leaching method has been used to classify K speciation for a long time, it depend on its availability to the plants and use for potash fertilizer recommendation rate. Clay mineral in soil is a factor for controlling soil fertility. The change of the micro-structure of clay minerals during various environment (i.e. swelling or shrinking) is characterized using Transmission X-Ray Microscopy (TXM). The objective of this study are to 1) compare the distribution of K speciation between single leaching and sequential extraction process 2) determined clay particle flocculation structure before/after suspension with K+ using TXM. Four tropical soil samples: farming without K fertilizer (10 years), long term applied K fertilizer (10 years; 168-240 kg K2O ha-1 year-1), red soil (450-500 kg K2O ha-1 year-1) and forest soil were selected. The results showed that the amount of K speciation by single leaching method were high in mineral K, HNO3 K, Non-exchangeable K, NH4OAc K, exchangeable K and water soluble K respectively. Sequential extraction process indicated that most K speciations in soil were associated with residual, organic matter, Fe or Mn oxide and exchangeable fractions and K associate fraction with carbonate was not detected in tropical soil samples. In farming long term applied K fertilizer and red soil were higher exchangeable K than farming long term without K fertilizer and forest soil. The results indicated that one way to increase the available K (water soluble K and exchangeable K) should apply K fertilizer and organic fertilizer for providing available K. The two-dimension of TXM image of clay particles suspension with K+ shows that the aggregation structure of clay mineral closed-void cellular networks. The porous cellular structure of soil aggregates in 1 M KCl solution had large and very larger empty voids than in 0.025 M KCl and deionized water respectively. TXM nanotomography is a new technique can be useful in the field as a tool for better understanding of clay mineral micro-structure.

Keywords: potassium, sequential extraction process, clay mineral, TXM

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Authors: Ian O'Loughlin

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Memory networks aim to integrate some of the recent successes in machine learning with a dynamic memory base that can be updated and deployed in artificial reasoning tasks. These models involve training networks to identify, update, and operate over stored elements in a large memory array in order, for example, to ably perform question and answer tasks parsing real-world and simulated discourses. This family of approaches still faces numerous challenges: the performance of these network models in simulated domains remains considerably better than in open, real-world domains, wide-context cues remain elusive in parsing words and sentences, and even moderately complex sentence structures remain problematic. This innovation, employing an array of stored and updatable ‘memory’ elements over which the system operates as it parses text input and develops responses to questions, is a compelling one for at least two reasons: first, it addresses one of the difficulties that standard machine learning techniques face, by providing a way to store a large bank of facts, offering a way forward for the kinds of long-term reasoning that, for example, recurrent neural networks trained on a corpus have difficulty performing. Second, the addition of a stored long-term memory component in artificial reasoning seems psychologically plausible; human reasoning appears replete with invocations of long-term memory, and the stored but dynamic elements in the arrays of memory networks are deeply reminiscent of the way that human memory is readily and often characterized. However, this apparent psychological plausibility is belied by a recent turn in the study of human memory in cognitive science. In recent years, the very notion that there is a stored element which enables remembering, however dynamic or reconstructive it may be, has come under deep suspicion. In the wake of constructive memory studies, amnesia and impairment studies, and studies of implicit memory—as well as following considerations from the cognitive neuroscience of memory and conceptual analyses from the philosophy of mind and cognitive science—researchers are now rejecting storage and retrieval, even in principle, and instead seeking and developing models of human memory wherein plasticity and dynamics are the rule rather than the exception. In these models, storage is entirely avoided by modeling memory using a recurrent neural network designed to fit a preconceived energy function that attains zero values only for desired memory patterns, so that these patterns are the sole stable equilibrium points in the attractor network. So although the array of long-term memory elements in memory networks seem psychologically appropriate for reasoning systems, they may actually be incurring difficulties that are theoretically analogous to those that older, storage-based models of human memory have demonstrated. The kind of emergent stability found in the attractor network models more closely fits our best understanding of human long-term memory than do the memory network arrays, despite appearances to the contrary.

Keywords: artificial reasoning, human memory, machine learning, neural networks

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Authors: Miroslav Čulík, Petr Gurný

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This paper is aimed at the financial assessment of the hard coal mining in a given region by real option methodology application. Hard coal mining in this mine makes net loss for the owner during the last years due to the long-term unfavourable mining conditions and significant drop in the coal prices during the last years. Management is going to shut down the operation and abandon the project to reduce the loss of the company. The goal is to assess whether the shutting down the operation is the only and correct solution of the problem. Due to the uncertainty in the future hard coal price evolution, the production might be again restarted if the price raises enough to cover the cost of the production. For the assessment, real option methodology is applied, which captures two important aspect of the financial decision-making: risk and flexibility. The paper is structured as follows: first, current state is described and problem is analysed. Next, methodology of real options is described. At last, project is evaluated by applying real option methodology. The results are commented and recommendations are provided.

Keywords: real option, investment, option to abandon, option to shut down and restart, risk, flexibility

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Authors: Noor Hasmini Abd Ghani

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Brand resonance is among of new focused strategy that getting more attention in nowadays by larger companies for their long-term market survival. The brand resonance emphasizing of two main characteristics that are intensity and activity able to generate psychology bond and enduring relationship between a brand and consumer. This strong attachment relationship has represented brand resonance with the concept of consumer brand relationship (CBR) that exhibit competitive advantage for long-term market survival. The main consideration toward this brand resonance approach is not only in the context of larger companies but also can be adapted in Small and Medium Enterprises (SMEs) as well. The SMEs have been recognized as vital pillar to the world economy in both developed and emergence countries are undeniable due to their economic growth contributions, such as opportunity for employment, wealth creation, and poverty reduction. In particular, the facts that SMEs in Malaysia are pivotal to the well-being of the Malaysian economy and society are clearly justified, where the SMEs competent in provided jobs to 66% of the workforce and contributed 40% to the GDP. As regards to it several sectors, the SMEs service category that covers the Food & Beverage (F&B) sector is one of the high-potential industries in Malaysia. For that reasons, SMEs strong brand or brand equity is vital to be developed for their long-term market survival. However, there’s still less appropriate strategies in develop their brand equity. The difficulties have never been so evident until Covid-19 swept across the globe from 2020. Since the pandemic began, more than 150,000 SMEs in Malaysia have shut down, leaving more than 1.2 million people jobless. Otherwise, as the SMEs are the pillar of any economy for the countries in the world, and with negative effect of COVID-19 toward their economic growth, thus, their protection has become important more than ever. Therefore, focusing on strategy that able to develop SMEs strong brand is compulsory. Hence, this is where the strategy of brand resonance is introduced in this study. Mainly, this study aims to investigate the impact of CBR as a predictor and mediator in the context of social media marketing (SMM) activities toward SMEs e-brand equity (or strong brand) building. The study employed the quantitative research design concerning on electronic survey method with the valid response rate of 300 respondents. Interestingly, the result revealed the importance role of CBR either as predictor or mediator in the context of SMEs SMM as well as brand equity development. Further, the study provided several theoretical and practical implications that can benefit the SMEs in enhancing their strategic marketing decision.

Keywords: SME brand equity, SME social media marketing, SME consumer brand relationship, SME brand resonance

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Authors: Abeer Rababa'h, Ragad Bsoul, Mohammad Alkhatatbeh, Karem Alzoubi

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Introduction: Tobacco use is one of the main risk factors to cardiovascular diseases (CVD) and atherosclerosis in particular. WPS contains several toxic materials such as: nicotine, carcinogens, tar, carbon monoxide and heavy metals. Thus, WPS is considered to be as one of the toxic environmental factors that should be investigated intensively. Therefore, the aim of this study is to investigate the effect of WPS on several cardiovascular biological markers that may cause atherosclerosis in mice. The study also conducted to study the temporal effects of WPS on the atherosclerotic biomarkers upon short (2 weeks) and long-term (8 weeks) exposures. Methods: mice were exposed to WPS and heart homogenates were analyzed to elucidate the effects of WPS on matrix metalloproteinase (MMPs), endothelin-1 (ET-1) and, myeloperoxidase (MPO). Following protein estimation, enzyme-linked immunosorbent assays were done to measure the levels of MMPs (isoforms 1, 3, and 9), MPO, and ET-1 protein expressions. Results: our data showed that acute exposure to WPS significantly enhances the levels of MMP-3, MMP- 9, and MPO expressions (p < 0.05) compared to their corresponding control. However, the body was capable to normalize the level of expressions for such parameters following continuous exposure for 8 weeks (p > 0.05). Additionally, we showed that the level of ET-1 expression was significantly higher upon chronic exposure to WPS compared to both control and acute exposure groups (p < 0.05). Conclusion: Waterpipe exposure has a significant negative effect on atherosclerosis and the enhancement of the atherosclerotic biomarkers expression (MMP-3 and 9, MPO, and ET-1) might represent an early scavenger of compensatory efforts to maintain cardiac function after WP exposure.

Keywords: atherosclerotic biomarkers, cardiovascular disease, matrix metalloproteinase, waterpipe

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Authors: Katarzyna Drela, Miroslaw Wielgos, Mikolaj Wrobel, Barbara Lukomska

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Mesenchymal stem cells (MSCs) have a great potential in regenerative medicine. Since the initial number of isolated MSCs is limited, in vitro propagation is often required to reach sufficient numbers of cells for therapeutic applications. During long-term culture MSCs may undergo genetic or epigenetic alterations that subsequently increase the probability of spontaneous malignant transformation. Thus, factors that influence genomic stability of MSCs following long-term expansions need to be clarified before cultured MSCs are employed for clinical application. The aim of our study was to investigate the potential for spontaneous transformation of human neonatal cord blood (HUCB-MSCs) and adult bone marrow (BM-MSCs) derived MSCs. Materials and Methods: HUCB-MSCs and BM-MSCs were isolated by standard Ficoll gradient centrifugations method. Isolated cells were initially plated in high density 106 cells per cm2. After 48 h medium were changed and non-adherent cells were removed. The malignant transformation of MSCs in vitro was evaluated by morphological changes, proliferation rate, ability to enter cell senescence, the telomerase expression and chromosomal abnormality. Proliferation of MSCs was analyzed with WST-1 reduction method and population doubling time (PDT) was calculated at different culture stages. Then the expression pattern of genes characteristic for mesenchymal or epithelial cells, as well as transcriptions factors were examined by RT-PCR. Concomitantly, immunocytochemical analysis of gene-related proteins was employed. Results: Our studies showed that MSCs from all bone marrow isolations ultimately entered senescence and did not undergo spontaneous malignant transformation. However, HUCB-MSCs from one of the 15 donors displayed an increased proliferation rate, failed to enter senescence, and exhibited an altered cell morphology. In this sample we observed two different cell phenotypes: one mesenchymal-like exhibited spindle shaped morphology and express specific mesenchymal surface markers (CD73, CD90, CD105, CD166) with low proliferation rate, and the second one with round, densely package epithelial-like cells with significantly increased proliferation rate. The PDT of epithelial-like populations was around 1day and 100% of cells were positive for proliferation marker Ki-67. Moreover, HUCB-MSCs showed a positive expression of human telomerase reverse transcriptase (hTERT), cMYC and exhibit increased number of CFU during the long-term culture in vitro. Furthermore, karyotype analysis revealed chromosomal abnormalities including duplications. Conclusions: Our studies demonstrate that HUCB-MSCs are susceptible to spontaneous malignant transformation during long-term culture. Spontaneous malignant transformation process following in vitro culture has enormous effect on the biosafety issues of future cell-based therapies and regenerative medicine regimens.

Keywords: mesenchymal stem cells, spontaneous, transformation, long-term culture

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Authors: Farid Habibi Tanha, Hawati Janor, Mojtaba Jahanbazi

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The purpose of this study is to examine the effect of asymmetric information on the composition of capital inflows. This study uses the stock market microstructure to capture the asymmetric information. Such an approach allows one to capture the level and extent of the asymmetric information from a firm’s perspective. This study focuses on the two-dimensional measure of the market microstructure in capturing asymmetric information. The composition of capital inflows is measured by running six models simultaneously. By employing the panel data technique, the main finding of this research shows an increase in the asymmetric information of the stock market, in any of the two dimensions of width and depth. This leads to the reduction of foreign investments in both forms of foreign portfolio investment (FPI) and foreign direct investment (FDI), while the reduction in FPI is higher than that of the FDI. The significant effect of asymmetric information on capital inflows implicitly suggests for policymakers to control the changes of foreign capital inflows through transparency in the level of the market.

Keywords: capital flows composition, asymmetric information, stock market microstructure, foreign portfolio investment, foreign direct investment

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Authors: Huyuan Zhang, Yi Chen

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Compacted sewage sludge has been proved to be feasible as a barrier material for tailing impoundment because of its low permeability and retardation of heavy metals. The long-term penetration of acid mine drainage, however, would acidify the barrier system and result in remobilization of previously immobilized heavy metal pollutants. In this study, the effect of decreasing pH on the mobility of three typical heavy metals (Zn, Pb, and Cu) is investigated by acid titration test on sewage sludge under various conditions. The remobilization of heavy metals is discussed based on the acid buffering capacity of sewage sludge-leachate system. Test results indicate that heavy metals are dramatically released out when pH is decreased below 6.2, and their amounts take the order of Zn > Cu > Pb. The acid buffering capacity of sewage sludge decreases with the solid-liquid ratio but increases with the anaerobic incubation time, and it is mainly governed by dissolution of contained carbonate and organics. These results reveal that the sewage sludge possesses enough acid buffering capacity to consume protons within the acid mine drainage. Thus, this study suggests that an explosive remobilization of heavy metals is not expected in a long-term perspective.

Keywords: acid buffering capacity, barrier, heavy metals, remobilization, sewage sludge

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Authors: Edward C. W. Chan, Benny C. F. Cheung

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In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilisation efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.

Keywords: intellectual capital, intellectual capital measurement, property development, property investment, Skandia navigator, VAIC

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Authors: Ihn Sook Jeong, Eun Joo Lee, Jae Hyung Kim, Gun Ho Kim, Young Jun Hwang

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This study investigated intravenous (IV) infiltration using bioelectrical impedance for 27 hospitalized patients in a long-term care hospital. Impedance parameters showed significant differences before and after infiltration as follows. First, the resistance (R) after infiltration significantly decreased compared to the initial resistance. This indicates that the IV solution flowing from the vein due to infiltration accumulates in the extracellular fluid (ECF). Second, the relative resistance at 50 kHz was 0.94 ± 0.07 in 9 subjects without infiltration and was 0.75 ± 0.12 in 18 subjects with infiltration. Third, the magnitude of the reactance (Xc) decreased after infiltration. This is because IV solution and blood components released from the vein tend to aggregate in the cell membrane (and acts analogously to the linear/parallel circuit), thereby increasing the capacitance (Cm) of the cell membrane and reducing the magnitude of reactance. Finally, the data points plotted in the R-Xc graph were distributed on the upper right before infiltration but on the lower left after infiltration. This indicates that the infiltration caused accumulation of fluid or blood components in the epidermal and subcutaneous tissues, resulting in reduced resistance and reactance, thereby lowering integrity of the cell membrane. Our findings suggest that bioelectrical impedance is an effective method for detection of infiltration in a noninvasive and quantitative manner.

Keywords: intravenous infiltration, impedance, parameters, resistance, reactance

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Authors: L. Sun, T. Hargreaves, Z. Ahmad

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Newly-qualified Foundation Year 1 doctors in the United Kingdom are frequently expected to perform practical skills involving the upper limb in clinical practice (for example, venipuncture, cannulation, and blood gas sampling). However, a move towards systems-based undergraduate medical education in the United Kingdom often precludes or limits dedicated time to anatomy teaching with cadavers or prosections, favouring only applied anatomy in the context of pathology. The authors hypothesised that detailed anatomical knowledge may consequently be adversely affected, particularly with respect to long-term retention. A simple picture quiz and accompanying questionnaire testing the identification of 7 upper limb surface landmarks was distributed to a total of 98 final year medical students from two universities - one with a systems-based curriculum, and one with a dedicated longitudinal dissection-based anatomy module in the first year of study. Students with access to dissection and prosection-based anatomy teaching performed more strongly, with a significantly higher rate of correct identification of all but one of the landmarks. Furthermore, it was notable that none of the students who had previously undertaken a systems-based course scored full marks, compared with 20% of those who had participated in the more dedicated anatomy course. This data suggests that a traditional, dissection-based approach to undergraduate anatomy teaching is superior to modern system-based curricula, in terms of aiding long-term retention of anatomical knowledge pertinent to newly-qualified doctors. The authors express concern that this deficit in proficiency could be detrimental to patient care in clinical practice, and propose that, where dissection-led anatomy teaching is not available, further anatomy revision modules are implemented throughout undergraduate education to aid knowledge retention and support clinical excellence.

Keywords: dissection, education, surface anatomy, upper limb

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Authors: Qingying Liu, S. Liu, L. Hao, B. Zhang, J. D. Yan

Abstract:

HVDC technology is becoming increasingly popular due to its simplicity in topology and less power loss over long distance of power transmission, in comparison with HVAC technology. However, the dielectric behavior of insulators in the long term under HVDC stress is completely different from that under HVAC stress as a result of charge accumulation in a constant electric field. Insulators used in practical systems are never perfect in their structural conditions. Over time shallow cracks may develop on their surface. The presence of defects can lead to drastic change in their dielectric behaviour and thus increase the probability of surface flashover. In this contribution, experimental investigations have been carried out on the charge accumulation phenomenon on the surface of a rod insulator made of epoxy that is placed between two disk shaped electrodes at different voltage levels and in different gases (SF6, CO2 and N2). Many results obtained, such as, the two-dimensional electrostatic potential distribution along the insulator surface after the removal of the power source following a pre-defined period of application. The probe has been carefully calibrated before each test. Results show that surface charge distribution near the two disk shaped electrodes is not uniform in the circumferential direction, possibly due to the imperfect electrical connections between the embeded conductor in the insulator and the disk shaped electrodes. The axial length of this non-uniform region is experimentally determined, which provides useful information for shielding design. A charge transport model is also used to explain the formation of the long term electrostatic potential distribution under a constant applied voltage.

Keywords: HVDC, power systems, dielectric behavior, insulation, charge accumulation

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Authors: Vikrant Gupta, Amrit Goswami

Abstract:

The fixed income market forms the basis of the modern financial market. All other assets in financial markets derive their value from the bond market. Owing to its over-the-counter nature, corporate bonds have relatively less data publicly available and thus is researched upon far less compared to Equities. Bond price prediction is a complex financial time series forecasting problem and is considered very crucial in the domain of finance. The bond prices are highly volatile and full of noise which makes it very difficult for traditional statistical time-series models to capture the complexity in series patterns which leads to inefficient forecasts. To overcome the inefficiencies of statistical models, various machine learning techniques were initially used in the literature for more accurate forecasting of time-series. However, simple machine learning methods such as linear regression, support vectors, random forests fail to provide efficient results when tested on highly complex sequences such as stock prices and bond prices. hence to capture these intricate sequence patterns, various deep learning-based methodologies have been discussed in the literature. In this study, a recurrent neural network-based deep learning model using long short term networks for prediction of corporate bond prices has been discussed. Long Short Term networks (LSTM) have been widely used in the literature for various sequence learning tasks in various domains such as machine translation, speech recognition, etc. In recent years, various studies have discussed the effectiveness of LSTMs in forecasting complex time-series sequences and have shown promising results when compared to other methodologies. LSTMs are a special kind of recurrent neural networks which are capable of learning long term dependencies due to its memory function which traditional neural networks fail to capture. In this study, a simple LSTM, Stacked LSTM and a Masked LSTM based model has been discussed with respect to varying input sequences (three days, seven days and 14 days). In order to facilitate faster learning and to gradually decompose the complexity of bond price sequence, an Empirical Mode Decomposition (EMD) has been used, which has resulted in accuracy improvement of the standalone LSTM model. With a variety of Technical Indicators and EMD decomposed time series, Masked LSTM outperformed the other two counterparts in terms of prediction accuracy. To benchmark the proposed model, the results have been compared with traditional time series models (ARIMA), shallow neural networks and above discussed three different LSTM models. In summary, our results show that the use of LSTM models provide more accurate results and should be explored more within the asset management industry.

Keywords: bond prices, long short-term memory, time series forecasting, empirical mode decomposition

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Authors: Ashagrie Getnet Flattie

Abstract:

Line-of-sight (LOS) information, data rates, good quality, and flexible network service are limited by the fact that, for the duration of any given connection, they experience severe variation in signal strength due to fading and path loss. Wireless system faces major challenges in achieving wide coverage and capacity without affecting the system performance and to access data everywhere, all the time. In this paper, the cell coverage and edge rate of different Multiple-input multiple-output (MIMO) schemes in 20 MHz Long Term Evolution (LTE) system under Unmanned Air Vehicles (UAV) platform are investigated. After some background on the enormous potential of UAV, MIMO, and LTE in wireless links, the paper highlights the presented system model which attempts to realize the various benefits of MIMO being incorporated into UAV platform. The performances of the three MIMO LTE schemes are compared with the performance of 4x4 MIMO LTE in UAV scheme carried out to evaluate the improvement in cell radius, BER, and data throughput of the system in different morphology. The results show that significant performance gains such as bit error rate (BER), data rate, and coverage can be achieved by using the presented scenario.

Keywords: LTE, MIMO, path loss, UAV

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Authors: Marina E. Konstantinidi

Abstract:

It is now well-established that the fight against climate change and its consequences, which are a threat to mankind and to life on the planet Earth, requires that global temperature rise be kept under 1,5°C. It is also well-established that this requires humanity to put an end to the use of fossil fuels in the next decades, at the latest. However, investors in the fossil energy sector have brought or threatened to bring investment arbitration claims against States which put an end to their activity for the purpose of reaching their climate change policies’ objectives. Examples of such claims are provided by the cases of WMH v. Canada, Lone Pine v. Canada, Uniper v. Netherlands and RWE v. Netherlands. Irrespective of the outcome of the arbitration proceedings, the risk of being ordered to pay very substantial damages may have a ‘chilling effect’ on States, meaning that they may hesitate to implement the energy transition measures needed to fight climate change and its consequences. Although mitigation action is a relatively recent phenomenon, knowledge about the negative impact of fossil fuels has existed for a long time ago. In this paper, it is argued that structured documentation of evidence of knowledge about climate change may influence the adjudication of investment treaty claims and, consequently, affect the content of energy transition regulations that will be implemented. For example, as concerns investors, evidence that change in the regulatory framework towards environmental protection could have been predicted would refute the argument concerning legitimate expectations for legislative stability. By reference to relevant case law, it attempted to explore how pre-existing knowledge about climate change can be used in the adjudication of investor-State disputes and resulting from green energy transition policies.

Keywords: climate change, energy transition, international investment law, knowledge

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Authors: S. Amanpour, F. Mohamadian, S. A. Tabatabai

Abstract:

With the number of accidents and fatalities in recent years can be concluded that Iran is the status of road accidents, remains in a crisis. Investigate the causes of such incidents in all countries is a necessity. By doing this research, the results of the number and type of accidents and the location of the crash will be available. It is possible to prioritize economic and rational solutions to fix the flaws in the way of short-term the results are all the more strict rules about the desire to have black spots and cursory glance at the change of but results in long-term are desired to change the system or increase the width of the path or add extra track. In general, the relationship between the analysis of the accidents and near police statistics is the number of accidents in one year. This could prove the accuracy of the analysis done.

Keywords: traffic, IHSDM, crash, modeling, Khuzestan

Procedia PDF Downloads 277

Authors: Fangting Gao

Abstract:

Ozone acts as an atmospheric shield, protecting organisms from ultraviolet radiation by absorbing it. Currently, a large amount of international environmental epidemiology has confirmed that short- and long-term exposure to ozone has significant effects on population health. Near-surface ozone, as a secondary pollutant in the atmosphere, not only negatively affects the production activities of living organisms but also damages ecosystems and affects climate change to some extent. In this paper, using the hour-by-hour ozone observations given by ground meteorological stations in four cities, namely Beijing, Kunming, Xining, and Guangzhou, from 2015 to 2017, the number of days of exceedance and the long-term change characteristics of ozone are analyzed by using the time series analysis method. On this basis, the effects of changes in meteorological conditions on ozone concentration were discussed in conjunction with the same period of meteorological data, and the similarities and differences of near-surface ozone in different cities were comparatively analyzed to establish a relevant quantitative model of near-surface ozone. This study found that ozone concentrations were highest during the summer months of the year, that ozone concentrations were strongly correlated with meteorological conditions, and that none of the four cities had ozone concentrations that reached the threshold for causing disease.

Keywords: ozone, meteorological conditions, pollution, health

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Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

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The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as Sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of Sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of Sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that Sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from Sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: sukuk, zero beta asset, asset allocation, sukuk market

Procedia PDF Downloads 475

Authors: Nana Bolashvili, Vakhtang Geladze, Tamazi Karalashvili, Nino Machavariani, George Geladze, Davit Kartvelishvili, Ana Karalashvili

Abstract:

Fresh water is the major natural resource of Georgia. The average perennial sum of the rivers' runoff in Georgia is 52,77 km³, out of which 9,30 km³ inflows from abroad. The major volume of transit river runoff is ascribed to the Chorokhi river. Average perennial runoff in Western Georgia is 41,52 km³, in Eastern Georgia 11,25 km³. The indices of Eastern and Western Georgia were calculated with 50% and 90% river runoff respectively, while the same index calculation for other countries is based on a 50% river runoff. Out of total volume of resources, 133,2 m³/sec (4,21 km³) has been geologically prospected by the State Commission on Reserves and Acknowledged as reserves available for exploitation, 48% (2,02 km³) of which is in Western Georgia and 2,19 km³ in Eastern Georgia. Considering acknowledged water reserves of all categories per capita water resources accounts to 2,2 m³/day, whereas high industrial category -0. 88 m³ /day fresh drinking water. According to accepted norms, the possibility of using underground water reserves is 2,5 times higher than the long-term requirements of the country. The volume of abundant fresh-water reserves in Georgia is about 150 m³/sec (4,74 km³). Water in Georgia is consumed mostly in agriculture for irrigation purposes. It makes 66,4% around Georgia, in Eastern Georgia 72,4% and 38% in Western Georgia. According to the long-term forecast provision of population and the territory with water resources in Eastern Georgia will be quite normal. A bit different is the situation in the lower reaches of the Khrami and Iori rivers which could be easily overcome by corresponding financing. The present day irrigation system in Georgia does not meet the modern technical requirements. The overall efficiency of their majority varies between 0,4-0,6. Similar is the situation in the fresh water and public service water consumption. Organization of the mentioned systems, installation of water meters, introduction of new methods of irrigation without water loss will substantially increase efficiency of water use. Besides new irrigation norms developed from agro-climatic, geographical and hydrological angle will significantly reduce water waste. Taking all this into account we assume that for irrigation agricultural lands in Georgia is necessary 6,0 km³ water, 5,5 km³ of which goes to Eastern Georgia on irrigation arable areas. To increase water supply in Eastern Georgian territory and its population is possible by means of new water reservoirs as the runoff of every river considerably exceeds the consumption volume. In conclusion, we should say that fresh water resources by which Georgia is that rich could be significant source for barter exchange and investment attraction. Certain volume of fresh water can be exported from Western Georgia quite trouble free, without bringing any damage to population and hydroecosystems. The precise volume of exported water per region/time and method/place of water consumption should be defined after the estimation of different hydroecosystems and detailed analyses of water balance of the corresponding territories.

Keywords: GIS, management, rivers, water resources

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Authors: Chayanon Boonyuid

Abstract:

This paper experiments the effects of low-density polyethylene (LDPE) on the structural strength and permeability of hot-mix-asphalt (HMA) pavements. Different proportions of bitumen (4%, 4.5%, 5%, 5.5% and 6% of total aggregates) and plastic (5%, 10% and 15% of bitumen) contents in HMA mixtures were investigated to estimate the optimum mixture of bitumen and plastic in HMA pavement with long-term performance. Marshall Tests and Falling Head Tests were performed to experiment the structure strength and permeability of HMA mixtures with different percentages of plastic materials and bitumen. The laboratory results show that the optimum binder content was 5.5% by weight of aggregates with higher contents of plastic materials, increase structural stability, reduce permanent deformation, increase ductility, and improve fatigue life of HMA pavements. The use of recycled plastic shopping bags can reduce the use of bitumen content by 0.5% - 1% in HMA mixtures resulting in cheaper material costs with better long-term performance. The plastic materials increase the impermeability of HMA pavements. This study has two-fold contributions: optimum contents of both bitumen and plastic materials in HMA mixtures and the impacts of plastic materials on the permeability of HMA pavements.

Keywords: plastic bags, bitumen, structural strength, permeability

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Authors: Ali Reza Sattarzadeh, Ronny J. Kutadinata, Pubudu N. Pathirana, Van Thanh Huynh

Abstract:

Traffic congestion has become a severe worldwide problem, affecting everyday life, fuel consumption, time, and air pollution. The primary causes of these issues are inadequate transportation infrastructure, poor traffic signal management, and rising population. Traffic flow forecasting is one of the essential and effective methods in urban congestion and traffic management, which has attracted the attention of researchers. With the development of technology, undeniable progress has been achieved in existing methods. However, there is a possibility of improvement in the extraction of temporal and spatial features to determine the importance of traffic flow sequences and extraction features. In the proposed model, we implement the convolutional neural network (CNN) and long short-term memory (LSTM) deep learning models for mining nonlinear correlations and their effectiveness in increasing the accuracy of traffic flow prediction in the real dataset. According to the experiments, the results indicate that implementing Conv-LSTM networks increases the productivity and accuracy of deep learning models for traffic flow prediction.

Keywords: deep learning algorithms, intelligent transportation systems, spatiotemporal features, traffic flow prediction

Procedia PDF Downloads 166