Search results for: real estate price index

Authors: Radosław Pastusiak, Anna Kaźmierska, Magdalena Jasiniak

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The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: special economic zone, local finance, municipal finance, government

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Authors: Vish Putcha, Chandrasekhar Putcha, Siva Hari

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

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

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Authors: Sahar Navabakhsh, Rokia Raslan, Yair Schwartz

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Decision-making on regeneration of housing estates, whether to refurbish or re-build, has been mostly triggered by economic factors. To enable sustainable growth, it is vital that environmental and social impacts of different scenarios are also taken into account. The methodology used to include all the three sustainable development pillars is called Life Cycle Sustainability Assessment (LCSA), which comprises of Life Cycle Assessment (LCA) for the assessment of environmental impacts of buildings. Current practice of LCA is regularly conducted post design stage and by sustainability experts. Not only is undertaking an LCA at this stage less effective, but issues such as the limited scope for the definition and assessment of environmental impacts, the implication of changes in the system boundary and the alteration of each of the variable metrics, employment of different Life Cycle Impact Assessment Methods and use of various inventory data for Life Cycle Inventory Analysis can result in considerably contrasting results. Given the niche nature and scarce specialist domain of LCA of buildings, the majority of the stakeholders do not contribute to the generation or interpretation of the impact assessment, and the results can be generated and interpreted subjectively due to the mentioned uncertainties. For an effective and democratic assessment of environmental impacts, different stakeholders, and in particular the community and design team should collaborate in the process of data collection, assessment and analysis. This paper examines and evaluates a participatory approach to LCSA through the analysis of a case study of a housing estate in South West London. The study has been conducted throughout tier-based collaborative methods to collect and share data through surveys and co-design workshops with the community members and the design team as the main stakeholders. The assessment of lifecycle impacts is conducted throughout the process and has influenced the decision-making on the design of the Community Plan. The evaluation concludes better assessment transparency and outcome, alongside other socio-economic benefits of identifying and engaging the most contributive stakeholders in the process of conducting LCSA.

Keywords: life cycle assessment, participatory LCA, life cycle sustainability assessment, participatory processes, decision-making, housing estate regeneration

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Authors: Ririh Rahma Ratinghayu, Jayu Pramudya, Nur Aini Masruroh, Shi-Woei Lin

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This research studies pricing strategy in cooperative setting of hotel duopoly selling perishable product under fixed capacity constraint by using the perspective of managers. In hotel revenue management, competitor’s average room rate and occupancy rate should be taken into manager’s consideration in determining pricing strategy to generate optimum revenue. This information is not provided by business intelligence or available in competitor’s website. Thus, Information Sharing (IS) among players might result in improved performance of pricing strategy. IS is widely adopted in the logistics industry, but IS within hospitality industry has not been well-studied. This research put IS as one of cooperative game schemes, besides Mutual Price Setting (MPS) scheme. In off-peak season, hotel manager arranges pricing strategy to offer promotion package and various kinds of discounts up to 60% of full-price to attract customers. Competitor selling homogenous product will react the same, then triggers a price war. Price war which generates lower revenue may be avoided by creating collaboration in pricing strategy to optimize payoff for both players. In MPS cooperative game, players collaborate to set a room rate applied for both players. Cooperative game may avoid unfavorable players’ payoff caused by price war. Researches on horizontal cooperative game in logistics show better performance and payoff for the players, however, horizontal cooperative game in hotel revenue management has not been demonstrated. This paper aims to develop hotel revenue management models under duopoly cooperative schemes (IS & MPS), which are compared to models under non-cooperative scheme too. Each scheme has five models, Capacity Allocation Model; Demand Model; Revenue Model; Optimal Price Model; and Equilibrium Price Model. Capacity Allocation Model and Demand Model employs self-hotel and competitor’s full and discount price as predictors under non-linear relation. Optimal price is obtained by assuming revenue maximization motive. Equilibrium price is observed by interacting self-hotel’s and competitor’s optimal price under reaction equation. Equilibrium is analyzed using game theory approach. The sequence applies for three schemes. MPS Scheme differently aims to optimize total players’ payoff. The case study in which theoretical models are applied observes two hotels offering homogenous product in Indonesia during a year. The Capacity Allocation, Demand, and Revenue Models are built using multiple regression and statistically tested for validation. Case study data confirms that price behaves within demand model in a non-linear manner. IS Models can represent the actual demand and revenue data better than Non-IS Models. Furthermore, IS enables hotels to earn significantly higher revenue. Thus, duopoly hotel players in general, might have reasonable incentives to share information horizontally. During off-peak season, MPS Models are able to predict the optimal equal price for both hotels. However, Nash equilibrium may not always exist depending on actual payoff of adhering or betraying mutual agreement. To optimize performance, horizontal cooperative game may be chosen over non-cooperative game. Mathematical models can be used to detect collusion among business players. Empirical testing can be used as policy input for market regulator in preventing unethical business practices potentially harming society welfare.

Keywords: horizontal cooperative game theory, hotel revenue management, information sharing, mutual price setting

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Authors: D. Mowla, N. Rasti, P. Keshavarz

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Reduction of fossil fuels sources, increasing of pollution gases emission, and global warming effects increase the demand of renewable fuels. One of the main candidates of alternative fuels is biodiesel. Biodiesel limits greenhouse gas effects due to the closed CO₂ cycle. Biodiesel has more biodegradability, lower combustion emissions such as CO, SO_x, HC, PM and lower toxicity than petro diesel. However, biodiesel has high production cost due to high price of plant oils as raw material. So, the utilization of waste cooking oils (WCOs) as feedstock, due to their low price and disposal problems reduce biodiesel production cost. In this study, production of biodiesel by transesterification of methanol and WCO using modified sodic potassic (SP) clinoptilolite zeolite and sodic potassic calcic (SPC) clinoptilolite zeolite as heterogeneous catalysts have been investigated. These natural clinoptilolite zeolites were modified by KOH solution to increase the site activity. The optimum biodiesel yields for SP clinoptilolite and SPC clinoptilolite were 95.8% and 94.8%, respectively. Produced biodiesel were analyzed and compared with petro diesel and ASTM limits. The properties of produced biodiesel confirm well with ASTM limits. The density, kinematic viscosity, cetane index, flash point, cloud point, and pour point of produced biodiesel were all higher than petro diesel but its acid value was lower than petro diesel. Finally, the reusability and regeneration of catalysts were investigated. The results indicated that the spent zeolites cannot be reused directly for the transesterification, but they can be regenerated easily and can obtain high activity.

Keywords: biodiesel, renewable fuel, transesterification, waste cooking oil

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Authors: Muhammad Karim Ahmadzai

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Floods are natural phenomena and are an integral part of the water cycle. The majority of them are the result of climatic conditions, but are also affected by the geology and geomorphology of the area, topography and hydrology, the water permeability of the soil and the vegetation cover, as well as by all kinds of human activities and structures. However, from the moment that human lives are at risk and significant economic impact is recorded, this natural phenomenon becomes a natural disaster. Flood management is now a key issue at regional and local levels around the world, affecting human lives and activities. The majority of floods are unlikely to be fully predicted, but it is feasible to reduce their risks through appropriate management plans and constructions. The aim of this Case Study is to identify, and map areas of flood risk in the Khinch District of Panjshir Province, Afghanistan specifically in the area of Peshghore, causing numerous damages. The main purpose of this study is to evaluate the contribution of remote sensing technology and Geographic Information Systems (GIS) in assessing the susceptibility of this region to flood events. Panjsher is facing Seasonal floods and human interventions on streams caused floods. The beds of which have been trampled to build houses and hotels or have been converted into roads, are causing flooding after every heavy rainfall. The streams crossing settlements and areas with high touristic development have been intensively modified by humans, as the pressure for real estate development land is growing. In particular, several areas in Khinch are facing a high risk of extensive flood occurrence. This study concentrates on the construction of a flood susceptibility map, of the study area, by combining vulnerability elements, using the Analytical Hierarchy Process/ AHP. The Analytic Hierarchy Process, normally called AHP, is a powerful yet simple method for making decisions. It is commonly used for project prioritization and selection. AHP lets you capture your strategic goals as a set of weighted criteria that you then use to score projects. This method is used to provide weights for each criterion which Contributes to the Flood Event. After processing of a digital elevation model (DEM), important secondary data were extracted, such as the slope map, the flow direction and the flow accumulation. Together with additional thematic information (Landuse and Landcover, topographic wetness index, precipitation, Normalized Difference Vegetation Index, Elevation, River Density, Distance from River, Distance to Road, Slope), these led to the final Flood Risk Map. Finally, according to this map, the Priority Protection Areas and Villages and the structural and nonstructural measures were demonstrated to Minimize the Impacts of Floods on residential and Agricultural areas.

Keywords: flood hazard, flood risk map, flood mitigation measures, AHP analysis

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Authors: T. Giansetto, E. Pierrot, P. Picavet, M. Lefebvre, S. Claeys, M. Balligand

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Objective: To test the low sensitivity of the Allberg and Miles index to the stifle opening angle, to evaluate the displacement of the patella after a Modified Maquet Technique using this index, and to assess the incidence of patella luxation post-Modified Maquet Technique in dogs. Materials and methods: Medical records were reviewed from 2012 to 2017. Allberg Miles index was determined for each stifle pre and post-operatively, as well as the stifle joint opening of each case. The occurrence of patella luxation was recorded. Results: 137 stifles on 116 dogs were reviewed. The stifle opening angle did not influence the Allberg Miles index (p=0.41). Pre and post-operative index showed a distal displacement of the patella after a Modified Maquet Procedure, especially at a 90° of stifle opening angle. Only 1/137 cases demonstrated patella luxation after the surgery. Conclusion: The Allberg Miles radiographic index is largely independent of the stifle opening angle and can be used to assess the proximo-distal position of the patella in relation to the femoral trochlear groove. If patella baja is clearly induced by the Modified Maquet Technique, the latter does not seem to predispose patients to post-operative patella luxation in a large variety of dog breeds.

Keywords: rlca, modified Maquet technique, patella luxation, orthopedic

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Authors: Su Nandar Tin, Wutjanun Muttitanon

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The availability of free global and historical satellite imagery provides a valuable opportunity for mapping and monitoring the year by year for the built-up area, constantly and effectively. Land distribution guidelines and identification of changes are important in preparing and reviewing changes in the ground overview data. This study utilizes Landsat images for thirty years of information to acquire significant, and land spread data that are extremely valuable for urban arranging. This paper is mainly introducing to focus the basic of extracting built-up area for the city development area from the satellite images of LANDSAT 5,7,8 and Sentinel 2A from USGS in every five years. The purpose analyses the changing of the urban built-up area according to the year by year and to get the accuracy of mapping built-up and bare land areas in studying the trend of urban built-up changes the periods from 1990 to 2020. The GIS tools such as raster calculator and built-up area modelling are using in this study and then calculating the indices, which include enhanced built-up and bareness index (EBBI), Normalized difference Built-up index (NDBI), Urban index (UI), Built-up index (BUI) and Normalized difference bareness index (NDBAI) are used to get the high accuracy urban built-up area. Therefore, this study will point out a variable approach to automatically mapping typical enhanced built-up and bare land changes (EBBI) with simple indices and according to the outputs of indexes. Therefore, the percentage of the outputs of enhanced built-up and bareness index (EBBI) of the sentinel-2A can be realized with 48.4% of accuracy than the other index of Landsat images which are 15.6% in 1990 where there is increasing urban expansion area from 43.6% in 1990 to 92.5% in 2020 on the study area for last thirty years.

Keywords: built-up area, EBBI, NDBI, NDBAI, urban index

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Authors: Ahlam Inayatullah Badrul Munir, M. Husaini A. Rahman, Mohd Sukri Hassan

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Real-time PCR is a molecular biology technique that is currently being widely used for halal services to differentiating between porcine and bovine DNA. The useful of technique become very important for student or workers (who works in the laboratory) to learn how the technique could be run smoothly without fail. Same concept with conventional PCR, real-time PCR also needed DNA template, primer, enzyme polymerase, dNTP, and buffer. The difference is in real-time PCR, have additional component namely fluorescent dye. The most common use of fluorescent dye in real-time PCR is SYBR green. The purpose of this study was to find out how sensitive, specific and efficient real-time PCR technique was combined with SYBR green method and specific primers of CYT b. The results showed that real-time PCR technique using SYBR Green, capable of detecting porcine and bovine DNA concentrations up to 0.0001 µl/ng. The level of efficiency for both types of DNA was 91% (90-110). Not only that in specific primer CYT b bovine primer could detect only bovine DNA, and porcine primer could detect only porcine primer. So, from the study could be concluded that real-time PCR technique that was combined with specific primer CYT b and SYBR green method, was sensitive, specific and efficient to detect porcine and bovine DNA.

Keywords: sensitivity, specificity, efficiency, real-time PCR, SYBR green, Cytochrome b, porcine DNA, bovine DNA

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Authors: Amal M. Nassar, Nehal S. Ahmed, Rasha S. Kamal

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Some lube oil additives improve the base oil performance such as viscosity index improvers and pour point depressants which are the most important type of additives. In the present work, some homopolymeric additives were prepared by esterification of acrylic acid with different alcohols (1-dodecyl, 1-hexadecyl, and 1-octadecyl )and then homopolymerization of the prepared esters with different ratio of benzoyl peroxide catalyst (0.25%& 0.5 % and 1%). Structure of the prepared esters was confirmed by Infra-Red Spectroscopy. The molecular weights of the prepared homopolymers were determined by using Gel Permeation Chromatograph. The efficiency of the prepared homopolymers as viscosity index improvers and pour point depressants for lube oil was the investigation. It was found that all the prepared homopolymers are effective as viscosity index improvers and pour point depressants.

Keywords: lube oil additives, homopolymerization, viscosity index improver, pour point depressant

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Authors: Heba Abdelmotaal, Magdy Abdel-Kader

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Purpose: This study explores whether a firm’s effective political risk management is preventing real and accrual earnings management . Design/methodology/approach: Based on a sample of 130 firms operating in Egypt during the period 2008-2013, two hypotheses are tested using the panel data regression models. Findings: The empirical findings indicate a significant relation between real and accrual earnings management and political risk. Originality/value: This paper provides a statistically evidence on the effects of the political risk management failure on the mangers’ engagement in the real and accrual earnings management practices, and its impact on the firm’s performance.

Keywords: political risk, risk management failure, real activities manipulation, accrual earnings management

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Authors: Jamuna Konda, Umamaheswara Reddy Karumuri, Sriramya Muthugi, Varun Pishati, Ravi Shakya,

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This paper investigates the challenges involved in mathematical modeling of plant simulation models ensuring the performance of the plant models much closer to the real time physical model. The paper includes the analysis performed and investigation on different methods of modeling, design and development for plant model. Issues which impact the design time, model accuracy as real time model, tool dependence are analyzed. The real time hardware plant would be a combination of multiple physical models. It is more challenging to test the complete system with all possible test scenarios. There are possibilities of failure or damage of the system due to any unwanted test execution on real time.

Keywords: model based design (MBD), MATLAB, Simulink, stateflow, plant model, real time model, real-time workshop (RTW), target language compiler (TLC)

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Authors: S. Venkatramanan, S. Y. Chung, S. Selvam, E. E. Hussam, G. Gnanachandrasamy

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The quality of groundwater was evaluated by major ions concentration around Busan city, South Korea. The groundwater samples were collected from 40 wells. The order of abundance of major cations concentration in groundwater is Na > Ca > Mg > K, in case of anions are Cl > HCO₃ > SO₄ > NO₃ > F. Based on Piper’s diagram Ca (HCO₃)₂, CaCl₂, and NaCl are the leading groundwater types. While Gibbs diagram suggested that most of groundwater samples belong to rock-weathering zone. Hydrogeochemical condition of groundwater in this city is influenced by evaporation, ion exchange and dissolution of minerals. Water Quality Index (WQI) revealed that 86 % of the samples belong to excellent, 2 % good, 4 % poor to very poor and 8 % unsuitable categories. The results of sodium absorption ratio (SAR), Permeability Index (PI), Residual Sodium Carbonate (RSC) and Magnesium Hazard (MH) exhibit that most of the groundwater samples are suitable for domestic and irrigation purposes.

Keywords: WQI (Water Quality Index), saturation index, groundwater types, ion exchange

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Authors: Lei Liu

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This paper concerns on a special phenomenon of rocketing of bride’s price in rural China after the rural-urban labor migration nowadays. It provides a brief overview of three major prospective on marriage exchange, especially impose the local marriage market due to the post-migration economic environments. Then the author highlights on several factors that influence the rocketing raise of rural marriage gifts using both the primary data from census 2010 and the interviews from the field study, such as one-child policy and the unbalanced sex ratio with the familiar context parents used different strategies in raising their sons and daughters so as to best hold their own interests, causing inequality between females and males. Then this was broken by the independence of rural women and the phenomenon of cross-regional marriage after the free mobility of labor resource between rural areas and urban areas which gives women equal rights to choose their spouses together with some publicly policies that accelerate the decline of patriarchy. In the end, the author spells out a framework of migration influence on rural marriage for some theoretical and policy implications of the findings.

Keywords: rural-urban migration, gender stratification, rural China, bride price, marriage

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Authors: Bundit Pungnirund

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This research aimed to study the relationship between marketing mix attitudes, motivation of buying decision and tendency of consumer decision making in buying the condominiums in Thailand. This study employed by survey and quantitative research. The questionnaire was used to collect the data from 400 sampled of customers who interested in buying condominium in Bangkok. The descriptive statistics and Pearson’s correlation coefficient analysis were used to analyze data. The research found that marketing mixed factors in terms of product and price were related to buying decision making tendency in terms of price and room size. Marketing mixed factors in terms of price, place and promotion were related to buying decision making tendency in term of word of mouth. Consumers’ buying motivation in terms of social acceptance, self-esteemed and self-actualization were related to buying decision making tendency in term of room size. In addition, motivation in self-esteemed was related to buying decision making tendency within a year.

Keywords: condominium, marketing mix, motivation, tendency of consumer decision making

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Authors: Arnab Adhikari, Arnab Bisi

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Since the inception, the fashion apparel supply chain is facing the problem of high demand uncertainty. Often the demand volatility compels the corresponding supply chain member to incur substantial holding cost and opportunity cost in case of the overproduction and the underproduction scenario, respectively. It leads to an uncoordinated fashion apparel supply chain. There exist several scholarly works to achieve coordination in the fashion apparel supply chain by employing the different contracts such as the buyback contract, the revenue sharing contract, the option contract, and so on. Specially, the application of option contract in the apparel industry becomes prevalent with the changing global scenario. Exploration of existing literature related to the option contract reveals that most of the research works concentrate on the one direction demand adjustment i.e. either to match the demand upwards or downwards. Here, we present a holistic approach to coordinate a dyadic fashion apparel supply chain comprising one manufacturer and one retailer with the help of bidirectional option contract. We show a combination of wholesale price contract and bidirectional option contract can coordinate the under expanded supply chain. We also propose a framework that captures the variation of the apparel retailer’s order quantity and the apparel manufacturer’s production quantity with the changing exercise price for the different ranges of the option price. We analytically explore that corresponding cost parameters of the supply chain members along with the nature of demand distribution play an instrumental role in the coordination as well as the retailer’s ordering decision.

Keywords: fashion apparel supply chain, supply chain coordination, wholesale price contract, bidirectional option contract

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Authors: Kristina Ancutiene

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The goal of this research is to perform comparative analysis between the virtual fit of the woman's dress and the fit on a real person. The dress fitting was done using mechanical and structural parameters of the 100 % linen fabric and using Modaris_3D_Fit software (CAD Lectra). The dress was also sawn after which garment fit differences of real and virtual dress was researched. Four respondents whose figures were similar were used to evaluate the ease and strain deformations of the real and virtual dress. The scores that were given by the respondents wearing the real dress were compared to the ease and strain results that were given by the software. The main result was that respondents feel similar to the virtual stretch deformations but their ease feeling is not always matching the virtual ones. The results may be influenced by psychological factors and different understanding about purpose of garment.

Keywords: virtual garment, 3D CAD, garment fit, mechanical properties

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Authors: Mursal Ibrahim Zada

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Since 2001, the new Government of Afghanistan has put the improvement of transportation in rural area as one of the key issues for the development of the country. Since then, about 17,000 km of rural roads were planned to be constructed in the entire country. This thesis will assess the impact of rural road improvement on the development of rural communities and housing facilities. Specifically, this study aims to show that the improved road has leads to an improvement in the community, which in turn has a positive effect on the lives of rural people. To obtain this goal, a questionnaire survey was conducted in March 2015 to the residents of four different districts of Kabul province, Afghanistan, where the road projects were constructed in recent years. The collected data was analyzed using on a regression analysis considering different factors such as land price, waiting time at the station, travel time to the city, number of employed family members and so on. Three models are developed to demonstrate the relationship between different factors before and after the improvement of rural transportation. The results showed a significant change positively in the value of land price and housing facilities, travel time to the city, waiting time at the station, number of employed family members, fare per trip to the city, and number of trips to the city per month after the pavement of the road. The results indicated that the improvement of transportation has a significant impact on the improvement of the community in different parts, especially on the price of land and housing facility and travel time to the city.

Keywords: accessibility, Afghanistan, housing facility, rural area, land price

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Authors: Riko Wahyudi, Rezky Lasekti Wicaksono, Ayu Satya Damayanti, Ridhasepta Multi Kenrosa

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Implementing Forest Management Unit (FMU) is considered as the best solution for forest management in developing countries. However, when FMU has been formed, many parties then blame the FMU and assume it is not working on. Currently, there are two main issues that make FMU not be functional i.e. institutional and financial issues. This paper is addressing financial issues to make FMUs in Aceh Province can be functional. A mixed financing scheme is proposed here, both direct and indirect financing. The direct financing scheme derived from two components i.e. public funds and businesses. Non-tax instruments of intergovernmental fiscal transfer (IFT) system and FMU’s businesses are assessed. Meanwhile, indirect financing scheme is conducted by assessing public funds within villages around forest estate as about 50% of total villages in Aceh Province are located surrounding forest estate. Potential instruments under IFT system are forest and mining utilization royalties. In order to make these instruments become direct financing for FMU, interventions on allocation and distribution aspects of them are conducted. In the allocation aspect, alteration in proportion of allocation is required as the authority to manage forest has shifted from district to province. In the distribution aspect, Government of Aceh can earmark usage of the funds for FMUs. International funds for climate change also encouraged to be domesticated and then channeled through these instruments or new instrument under public finance system in Indonesia. Based on FMU’s businesses both from forest products and forest services, FMU can impose non-tax fees for each forest product and service utilization. However, for doing business, the FMU need to be a Public Service Agency (PSA). With this status, FMU can directly utilize the non-tax fees without transferring them to the state treasury. FMU only need to report the fees to Ministry of Finance. Meanwhile, indirect financing scheme is conducted by empowering villages around forest estate as villages in Aceh Province is receiving average village fund of IDR 800 million per village in 2017 and the funds will continue to increase in subsequent years. These schemes should be encouraged in parallel to establish a mixed financing scheme in order to ensure sustainable financing for FMU in Aceh Province, Indonesia.

Keywords: forest management, public funds, mixed financing, village

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Authors: Mayowa Philips Ibitola, Akinade-Solomon Olorunfemi, Abe Oluwaseun Banji

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Heavy minerals studies were carried out on eighteen sediment samples from Ologe lagoon located at Lagos Barrier complex, with the aim of evaluating the heavy mineral deposits and determining the provenance of the sediments. The samples were subjected to grain analysis techniques in order to collect the finest grain size. Separation of heavy minerals from the samples was done with the aid of bromoform to enable petrographic analyses of the heavy mineral suite, under the polarising microscope. The data obtained from the heavy mineral analysis were used in preparing histograms and pie chart, from which the individual heavy mineral percentage distribution and ZTR index were derived. The percentage composition of the individual heavy mineral analyzed are opaque mineral 63.92%, Zircon 12.43%, Tourmaline 5.79%, Rutile 13.44%, Garnet 1.74% and Staurolite 3.52%. The calculated zircon, tourmaline, rutile index in percentage (ZTR) varied between 76.13 -92.15%, average garnet-zircon index (GZI), average rutile-zircon index (RuZI) and average staurolite-zircon index values in all the stations are 16.18%, 54.33%, 25.11% respectively. The mean ZTR index percentage value is 85.17% indicates that the sediments within the lagoon are mineralogically matured. The high percentage of zircon, rutile, and tourmaline indicates an acid igneous rock source for the sediments. However, the low percentage of staurolite, rutile and garnet occurrence indicates sediment of metamorphic rock source input.

Keywords: lagoon, provenance, heavy mineral, ZTR index

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Authors: Clarinda Vitorino Nhangumbe, Ercília Sousa

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Weather derivatives are financial products used to cover non catastrophic weather events with a weather index as the underlying asset. The rainfall weather derivative pricing model is modeled based in the assumption that the rainfall dynamics follows Ornstein-Uhlenbeck process, and the partial differential equation approach is used to derive the convection-diffusion two dimensional time dependent partial differential equation, where the spatial variables are the rainfall index and rainfall depth. To compute the approximation solutions of the partial differential equation, the appropriate boundary conditions are suggested, and an explicit numerical method is proposed in order to deal efficiently with the different choices of the coefficients involved in the equation. Being an explicit numerical method, it will be conditionally stable, then the stability region of the numerical method and the order of convergence are discussed. The model is tested for real precipitation data.

Keywords: finite differences method, ornstein-uhlenbeck process, partial differential equations approach, rainfall derivatives

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Authors: Y. H. Wu, Ji-Yuan Lin, Yu-Ming Liou

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This study aims to set up the landslide susceptibility map of County Route 89 at Ren-Ai Township in Nantou County using the Instability Index Method and Logistic regression. Seven susceptibility factors including Slope Angle, Aspect, Elevation, Distance to fold, Distance to River, Distance to Road and Accumulated Rainfall were obtained by GIS based on the Typhoon Toraji landslide area identified by Industrial Technology Research Institute in 2001. To calculate the landslide percentage of each factor and acquire the weight and grade the grid by means of Instability Index Method. In this study, landslide susceptibility can be classified into four grades: high, medium high, medium low and low, in order to determine the advantages and disadvantages of the two models. The precision of this model is verified by classification error matrix and SRC curve. These results suggest that the logistic regression model is a preferred method than instability index in the assessment of landslide susceptibility. It is suitable for the landslide prediction and precaution in this area in the future.

Keywords: instability index method, logistic regression, landslide susceptibility, SRC curve

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Authors: Wong Hock Tsen

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This study aims to investigate the impact of exchange rate volatility on real export in Malaysia. The moving standard deviation with order three (MSD(3)) is used for the measurement of exchange rate volatility. The conventional and partially asymmetric autoregressive distributed lag (ARDL) models are used in the estimations. This study finds exchange rate volatility to have significant impact on real total export and some sub-categories of real total export. Moreover, this study finds that the positive or negative exchange rate volatility tends to have positive or negative impact on real export. Exchange rate volatility can be harmful to export of Malaysia.

Keywords: exchange rate volatility, autoregressive distributed lag, export, Malaysia

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Authors: Fajana Sola Isaac

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In the last two decades, we have witnessed an increased interest in exchange rate pass-through (ERPT) in developing economies and emerging markets. This is perhaps due to the acknowledged significance of the pattern of exchange rate pass-through as a key instrument in monetary policy design, principally in retort to a shock in exchange rate in literature. This paper analyzed Exchange Rate Pass-Through by A Model of Oil Prices and Asymmetric Exchange Rate Fluctuations in Selected African Countries. The study adopted A Non-Linear Autoregressive Distributed Lag approach using yearly data on Algeria, Burundi, Nigeria and South Africa from 1986 to 2022. The paper found asymmetry in exchange rate pass-through in net oil-importing and net oil-exporting countries in the short run during the period under review. An ERPT exhibited a complete pass-through in the short run in the case of net oil-importing countries but an incomplete pass-through in the case of the net oil-exporting countries that were examined. An extended result revealed a significant impact of oil price shock on exchange rate pass-through to domestic price in the long run only for net oil importing countries. The Wald restriction test also confirms the evidence of asymmetric with the role of oil price acting as an accelerator to exchange rate pass-through to domestic price in the countries examined. The study found the outcome to be very useful for gaining expansive knowledge on the external shock impact on ERPT and could be of critical value for national monetary policy decisions on inflation targeting, especially for countries examined and other developing net oil importers and exporters.

Keywords: pass through, exchange rate, ARDL, monetary policy

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Authors: Mehrdad Kamali-Sanzighi, Maziar Kamali-Sanzighi

Abstract:

The aim of this research was to study zooplankton community density, diversity and Saprobi index in carp ponds at Golestan province, Gonbade Kavous city, Iran. Zooplankton sampling was done monthly in each pond during one carp culture time. Our analysis showed 27 genus from 4 groups (Protozoa 12, Rotatoria 8, Copepoda 4 and Cladocera 3). The highest and lowest frequency of zooplankton groups were belongs to Rotatoria, Copepoda, Cladocera and Protozoa with 46, 28, 23 and 3 percent, respectively. No significant differences between saprobi index of six carp ponds (P>0.05) were observed. Saprobi index indicated Class ßmesosaprob for six analysis ponds. There was a general tendency to decrease and significantly in the saprobi index with the value range of 1.52-1.70 from the beginning to end of the culture season (P<0.05). Also, gradual improvement of water quality observed toward the end of culture period and these reasons are partly a result of natural and management processed such as seasons changes (climate), water exchange (replacement of water) and pause of introduce of fertilizer materials to the ponds. According to the ability of saprobi index in monitoring of water quality condition and health of different water resources, focus to similar kind of effective research is necessary in future time.

Keywords: zooplankton, saprobi pollution index, water quality, fish pond, east of Golestan Province

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Authors: Basitah Taif

Abstract:

This study was to explore and utilize the fresh rind of mangosteen Index Colour 5 as an upcoming raw material for the production of natural dyes. Rind from the fresh mangosteen Index Colour 5 was utilized to extract the dyes. The established extracts were experimented on silk fabrics via three types of mordanting and dyeing procedures; pre-mordanting, simultaneous mordanting and post-mordanting. As a result, the applications of the freeze-drying methodology and mechanizable equipment have helped to produce excellent range of natural colours. Silk fabric treated simultaneously with mordanting and dyeing with extract dye Index Colour 5 produced a brilliant shade of the red colour and the colour from this index is also discovered sensitive to light and washing during the fastness tests. The preliminary evaluation and instrumentation analysis allowed us to examine whether the application of different mordanting and dyeing procedures with the same extract samples and concentrations affected the colours and shades of the fabric samples.

Keywords: natural dye, freeze-drying, Garcinia mangostana Linn, mordanting

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Authors: Andy Obinna Ibeje

Abstract:

In this study, the erodibility indices and some soil properties of some cassava farms in selected areas of Abia and Imo States were investigated. This study involves taking measurements of some soil parameters such as permeability, soil texture and particle size analysis from which the erodibility indices were compared. Results showed that soils of the areas are very sandy. The results showed that Isiukwuato with index of 72 has the highest erodibility index. The results also showed that Arondizuogu with index of 34 has the least erodibility index. The results revealed that soil erodibility (k) values varied from 34 to 72. Nkporo has the highest sand content; Inyishie has the least silt content. The result indicates that there were respectively strong inverse relationship between clay and silt contents and erodibility index. On the other hand, sand, organic matter and moisture contents as well as soil permeability has significantly high positive correlation with soil erodibility and it can be concluded that particle size distribution is a major finger print on the erodibility index of soil in the study area. It is recommended that safe cultural practices like crop rotation, matching and adoption of organic farming techniques be incorporated into farming communities of Abia and Imo States in order to stem the advances of erosion in the study area.

Keywords: erodibility, indices, soil, sand

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Authors: Kiknadze T, Tevdorashvili G, Muzashvili T, Gachechiladze M, Burkadze G

Abstract:

Uterine leiomyomas decrease the quality of life by causing significant morbidity among women of reproductive age. Histologically various types of leiomyoma's can be differentiated. We have analysed th histopathological, proliferation, apoptotic, and hormonal profile in different types of leiomyomas. Study included altogether140 cases distributed into the following groups: group I-normal myometrium (20cases), group II-classic leiomyoma (69 cases), group III-cellular leiomyoma (15 cases), group IV-bizarre cell/atypical leiomyoma (22cases), group V-smooth muscle tumors of uncertain malignancy potential (STUMP) (8 cases) and group VI-leiomyosarcoma (6 cases). Together with classic histopathological features such as nuclear atypia, cellularity, presence of mitoses, vasculature and necrosis, immunohistochemical phenotype using antibodies against Ki67,Cas3, ER, and PR were analysed. The results of our study showed that leiomyomas are charterised with variable histopathological and immunohistocthemical phenotype. Histopathological parameters mainly correlate with the degree of malignancy except for two bizarre/atypical leiomyoma and STUMP, where two distinct subgroups could be identified. In bizarre/ atipycal leiomyoma, 31% of cases are characterized with the features of classic leiomyoma, whilst the rest of the cases reveal more atipycal phenotype. In STUMP 37.5 % of cases are characterized with the features of atipycal leiomyomas. The result of the immunohistochemical study also reveald that half of bizarre/atipycal leiomyomas are characterized with the low proliferation index, high apoptotic index, and high ER and PR index, whilst another half is characterized with high proliferation index, low apoptotic index, and low ER and PR index. Similarly, part of the STUMP cases are characterized with low proliferation index, high Er, and PR index and whilst part of the cases are characterized whith high proliferation index, low apoptotic index and low ER and PR index. The results of the histopathological and immunohistochemical study indicate that these two entities represent the heterogenous group of diseases, which might be the explanation of their different prognosis. Presented histopathological and immunohistochemical features should be considered in the diagnosis of myometrial smooth muscle tumors.

Keywords: proliferation, apoptosis, bizarre cell, leiomyosarcoma., leiomyoma

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Authors: Bahram Fathi, Karim Alizadeh, Azam Mohammadbagheri

Abstract:

The aim of this paper is to investigate the role of oil price shocks in explaining business cycles in Iran using a dynamic stochastic general equilibrium approach. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. The model with two shocks produces different values for volatility, but these values have the same ranking as that of the actual data for most variables. In addition, the actual data are close to the ratio of standard deviations to the output obtained from the model with two shocks. The results indicate that productivity shocks are relatively more important to business cycles than the oil shocks. The model with only a productivity shock produces the most similar figures in term of volatility magnitude to that of the actual data. Next, we use the Impulse Response Functions (IRF) to evaluate the capability of the model. The IRF shows no effect of an oil shock on the capital stocks and on labor hours, which is a feature of the model. When the log-linearized system of equations is solved numerically, investment and labor hours were not found to be functions of the oil shock. This research recommends using different techniques to compare the model’s robustness. One method by which to do this is to have all decision variables as a function of the oil shock by inducing the stationary to the model differently. Another method is to impose a bond adjustment cost. This study intends to fill that gap. To achieve this objective, we derive a DSGE model that allows for the world oil price and productivity shocks. Second, we calibrate the model to the Iran economy. Next, we compare the moments from the theoretical model with both single and multiple shocks with that obtained from the actual data to see the extent to which business cycles in Iran can be explained by total oil revenue shock. Then, we use an impulse response function to evaluate the role of world oil price shocks. Finally, I present implications of the findings and interpretations in accordance with economic theory.

Keywords: oil price, shocks, dynamic stochastic general equilibrium, Iran

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Authors: Uzu-Kuei Hsu, Chang-Hsien Tai, Kai-Wun Jin

Abstract:

When sinters are filled into the cooler from the sintering machine, and the non-uniform distribution of the sinters leads to uneven cooling. This causes the temperature difference of the sinters leaving the cooler to be so large that it results in the conveyors being deformed by the heat. The present work applies CFD method to investigate the thermo flowfield phenomena in a sinter cooler by the Porous Media Model. Using the obtained experimental data to simulate porosity (Ε), permeability (κ), inertial coefficient (F), specific heat (Cp) and effective thermal conductivity (keff) of the sinter packed beds. The physical model is a similar geometry whose Darcy numbers (Da) are similar to the sinter cooler. Using the Cooling Index (CI) and Uniformity Index (UI) to analyze the thermo flowfield in the sinter packed bed obtains the cooling performance of the sinter cooler.

Keywords: porous media, sinter, cooling index (CI), uniformity index (UI), CFD

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