Search results for: green energy market
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 12969

Search results for: green energy market

9099 Comparative Effects of Resveratrol and Energy Restriction on Liver Fat Accumulation and Hepatic Fatty Acid Oxidation

Authors: Iñaki Milton-Laskibar, Leixuri Aguirre, Maria P. Portillo

Abstract:

Introduction: Energy restriction is an effective approach in preventing liver steatosis. However, due to social and economic reasons among others, compliance with this treatment protocol is often very poor, especially in the long term. Resveratrol, a natural polyphenolic compound that belongs to stilbene group, has been widely reported to imitate the effects of energy restriction. Objective: To analyze the effects of resveratrol under normoenergetic feeding conditions and under a mild energy restriction on liver fat accumulation and hepatic fatty acid oxidation. Methods: 36 male six-week-old rats were fed a high-fat high-sucrose diet for 6 weeks in order to induce steatosis. Then, rats were divided into four groups and fed a standard diet for 6 additional weeks: control group (C), resveratrol group (RSV, resveratrol 30 mg/kg/d), restricted group (R, 15 % energy restriction) and combined group (RR, 15 % energy restriction and resveratrol 30 mg/kg/d). Liver triacylglycerols (TG) and total cholesterol contents were measured by using commercial kits. Carnitine palmitoyl transferase 1a (CPT 1a) and citrate synthase (CS) activities were measured spectrophotometrically. TFAM (mitochondrial transcription factor A) and peroxisome proliferator-activator receptor alpha (PPARα) protein contents, as well as the ratio acetylated peroxisome proliferator-activated receptor gamma coactivator 1-alpha (PGC1α)/Total PGC1α were analyzed by Western blot. Statistical analysis was performed by using one way ANOVA and Newman-Keuls as post-hoc test. Results: No differences were observed among the four groups regarding liver weight and cholesterol content, but the three treated groups showed reduced TG when compared to the control group, being the restricted groups the ones showing the lowest values (with no differences between them). Higher CPT 1a and CS activities were observed in the groups supplemented with resveratrol (RSV and RR), with no difference between them. The acetylated PGC1α /total PGC1α ratio was lower in the treated groups (RSV, R and RR) than in the control group, with no differences among them. As far as TFAM protein expression is concerned, only the RR group reached a higher value. Finally, no changes were observed in PPARα protein expression. Conclusions: Resveratrol administration is an effective intervention for liver triacylglycerol content reduction, but a mild energy restriction is even more effective. The mechanisms of action of these two strategies are different. Thus resveratrol, but not energy restriction, seems to act by increasing fatty acid oxidation, although mitochondriogenesis seems not to be induced. When both treatments (resveratrol administration and a mild energy restriction) were combined, no additive or synergic effects were appreciated. Acknowledgements: MINECO-FEDER (AGL2015-65719-R), Basque Government (IT-572-13), University of the Basque Country (ELDUNANOTEK UFI11/32), Institut of Health Carlos III (CIBERobn). Iñaki Milton is a fellowship from the Basque Government.

Keywords: energy restriction, fat, liver, oxidation, resveratrol

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9098 The Effect of Cooling Tower Fan on the Performance of the Chiller Plant

Authors: Ankitsinh Chauhan, Vimal Patel, A. D. Parekh, Ishant patil

Abstract:

This study delves into the crucial influence of cooling tower fan operation on the performance of a chiller plant, with a specific focus on the Chiller Plant at SVNIT. Continuous operation of the chiller plant led to unexpected damage to the cooling tower's belt drive, rendering the cooling tower fan non-operational. Consequently, the efficiency of heat transfer in the condenser was significantly impaired. In response, we analyzed and calculated several vital parameters, including the Coefficient of Performance (COP), heat rejection in the condenser (Qc), work required for the compressor (Wc), and heat absorbed by the refrigerant in the evaporator (Qe). Our findings revealed that in the absence of the cooling tower fan, relying solely on natural convection, the COP of the chiller plant reached a minimum value of 5.49. However, after implementing a belt drive to facilitate forced convection for the cooling tower fan, the COP of the chiller plant experienced a noteworthy improvement, reaching approximately 6.27. Additionally, the utilization of forced convection resulted in an impressive reduction of 8.9% in compressor work, signifying enhanced energy efficiency. This study underscores the critical role of cooling tower fan operation in optimizing chiller plant performance, with practical implications for energy-efficient HVAC systems. It highlights the potential benefits of employing forced convection mechanisms, such as belt drives, to ensure efficient heat transfer in the condenser, ultimately contributing to improved energy utilization and reduced operational costs in cooling.

Keywords: cooling tower, chiller Plant, cooling tower fan, energy efficiency, VCRS.

Procedia PDF Downloads 41
9097 The Cost of Solar-Centric Renewable Portfolio

Authors: Timothy J. Considine, Edward J. M. Manderson

Abstract:

This paper develops an econometric forecasting system of energy demand coupled with engineering-economic models of energy supply. The framework is used to quantify the impact of state-level renewable portfolio standards (RPSs) achieved predominately with solar generation on electricity rates, electricity consumption, and environmental quality. We perform the analysis using Arizona’s RPS as a case study. We forecast energy demand in Arizona out to 2035, and find by this time the state will require an additional 35 million MWh of electricity generation. If Arizona implements its RPS when supplying this electricity demand, we find there will be a substantial increase in electricity rates (relative to a business-as-usual scenario of reliance on gas-fired generation). Extending the current regime of tax credits can greatly reduce this increase, at the taxpayers’ expense. We find that by 2025 Arizona’s RPS will implicitly abate carbon dioxide emissions at a cost between $101 and $135 per metric ton, and by 2035 abatement costs are between $64 and $112 per metric ton (depending on the future evolution of nature gas prices).

Keywords: electricity demand, renewable portfolio standard, solar, carbon dioxide

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9096 Development of Green Cement, Based on Partial Replacement of Clinker with Limestone Powder

Authors: Yaniv Knop, Alva Peled

Abstract:

Over the past few years there has been a growing interest in the development of Portland Composite Cement, by partial replacement of the clinker with mineral additives. The motivations to reduce the clinker content are threefold: (1) Ecological - due to lower emission of CO2 to the atmosphere; (2) Economical - due to cost reduction; and (3) Scientific\Technology – improvement of performances. Among the mineral additives being used and investigated, limestone is one of the most attractive, as it is considered natural, available, and with low cost. The goal of the research is to develop green cement, by partial replacement of the clinker with limestone powder while improving the performances of the cement paste. This work studied blended cements with three limestone powder particle diameters: smaller than, larger than, and similarly sized to the clinker particle. Blended cement with limestone consisting of one particle size distribution and limestone consisting of a combination of several particle sizes were studied and compared in terms of hydration rate, hydration degree, and water demand to achieve normal consistency. The performances of these systems were also compared with that of the original cement (without added limestone). It was found that the ability to replace an active material with an inert additive, while achieving improved performances, can be obtained by increasing the packing density of the cement-based particles. This may be achieved by replacing the clinker with limestone powders having a combination of several different particle size distributions. Mathematical and physical models were developed to simulate the setting history from initial to final setting time and to predict the packing density of blended cement with limestone having different sizes and various contents. Besides the effect of limestone, as inert additive, on the packing density of the blended cement, the influence of the limestone particle size on three different chemical reactions were studied; hydration of the cement, carbonation of the calcium hydroxide and the reactivity of the limestone with the hydration reaction products. The main results and developments will be presented.

Keywords: packing density, hydration degree, limestone, blended cement

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9095 The Study of Heat and Mass Transfer for Ferrous Materials' Filtration Drying

Authors: Dmytro Symak

Abstract:

Drying is a complex technologic, thermal and energy process. Energy cost of drying processes in many cases is the most costly stage of production, and can be over 50% of total costs. As we know, in Ukraine over 85% of Portland cement is produced moist, and the finished product energy costs make up to almost 60%. During the wet cement production, energy costs make up over 5500 kJ / kg of clinker, while during the dry only 3100 kJ / kg, that is, switching to a dry Portland cement will allow result into double cutting energy costs. Therefore, to study raw materials drying process in the manufacture of Portland cement is very actual task. The fine ferrous materials drying (small pyrites, red mud, clay Kyoko) is recommended to do by filtration method, that is one of the most intense. The essence of filtration method drying lies in heat agent filtering through a stationary layer of wet material, which is located on the perforated partition, in the "layer-dispersed material - perforated partition." For the optimum drying purposes, it is necessary to establish the dependence of pressure loss in the layer of dispersed material, and the values of heat and mass transfer, depending on the speed of the gas flow filtering. In our research, the experimentally determined pressure loss in the layer of dispersed material was generalized based on dimensionless complexes in the form and coefficients of heat exchange. We also determined the relation between the coefficients of mass and heat transfer. As a result of theoretic and experimental investigations, it was possible to develop a methodology for calculating the optimal parameters for the thermal agent and the main parameters for the filtration drying installation. The comparison of calculated by known operating expenses methods for the process of small pyrites drying in a rotating drum and filtration method shows to save up to 618 kWh per 1,000 kg of dry material and 700 kWh during filtration drying clay.

Keywords: drying, cement, heat and mass transfer, filtration method

Procedia PDF Downloads 262
9094 Foreign Exchange Volatilities and Stock Prices: Evidence from London Stock Exchange

Authors: Mahdi Karazmodeh, Pooyan Jafari

Abstract:

One of the most interesting topics in finance is the relation between stock prices and exchange rates. During the past decades different stock markets in different countries have been the subject of study for researches. The volatilities of exchange rates and its effect on stock prices during the past 10 years have continued to be an attractive research topic. The subject of this study is one of the most important indices, FTSE 100. 20 firms with the highest market capitalization in 5 different industries are chosen. Firms are included in oil and gas, mining, pharmaceuticals, banking and food related industries. 5 different criteria have been introduced to evaluate the relationship between stock markets and exchange rates. Return of market portfolio, returns on broad index of Sterling are also introduced. The results state that not all firms are sensitive to changes in exchange rates. Furthermore, a Granger Causality test has been run to observe the route of changes between stock prices and foreign exchange rates. The results are consistent, to some level, with the previous studies. However, since the number of firms is not large, it is suggested that a larger number of firms being used to achieve the best results. However results showed that not all firms are affected by foreign exchange rates changes. After testing Granger Causality, this study found out that in some industries (oil and gas, pharmaceuticals), changes in foreign exchange rate will not cause any changes in stock prices (or vice versa), however, in banking sector the situation was different. This industry showed more reaction to these changes. The results are similar to the ones with Richards and Noel, where a variety of firms in different industries were evaluated.

Keywords: stock prices, foreign exchange rate, exchange rate exposure, Granger Causality

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9093 The Influence of Gender on Job-Competencies Requirements of Chemical-Based Industries and Undergraduate-Competencies Acquisition of Chemists in South West, Nigeria

Authors: Rachael Olatoun Okunuga

Abstract:

Developing young people’s employability is a key policy issue for ensuring their successful transition to the labour market and their access to career oriented employment. The youths of today irrespective of their gender need to acquire the knowledge, skills and attitudes that will enable them to create or find jobs as well as cope with unpredictable labour market changes throughout their working lives. In a study carried out to determine the influence of gender on job-competencies requirements of chemical-based industries and undergraduate-competencies acquisition by chemists working in the industries, all chemistry graduates working in twenty (20) chemical-based industries that were randomly selected from six sectors of chemical-based industries in Lagos and Ogun States of Nigeria were administered with Job-competencies required and undergraduate-competencies acquired assessment questionnaire. The data were analysed using means and independent sample t-test. The findings revealed that the population of female chemists working in chemical-based industries is low compared with the number of male chemists; furthermore, job-competencies requirements are found not to be gender sensitive while there is no significant difference in undergraduate-competencies acquisition of male and female chemists. This suggests that females should be given the same opportunity of employment in chemical-based industries as their male counterparts. The study also revealed the level of acquisition of undergraduate competencies as related to the needs of chemical-based industries.

Keywords: knowledge, skill, attitude, acquired, required, employability

Procedia PDF Downloads 379
9092 Performance Analysis of Bluetooth Low Energy Mesh Routing Algorithm in Case of Disaster Prediction

Authors: Asmir Gogic, Aljo Mujcic, Sandra Ibric, Nermin Suljanovic

Abstract:

Ubiquity of natural disasters during last few decades have risen serious questions towards the prediction of such events and human safety. Every disaster regardless its proportion has a precursor which is manifested as a disruption of some environmental parameter such as temperature, humidity, pressure, vibrations and etc. In order to anticipate and monitor those changes, in this paper we propose an overall system for disaster prediction and monitoring, based on wireless sensor network (WSN). Furthermore, we introduce a modified and simplified WSN routing protocol built on the top of the trickle routing algorithm. Routing algorithm was deployed using the bluetooth low energy protocol in order to achieve low power consumption. Performance of the WSN network was analyzed using a real life system implementation. Estimates of the WSN parameters such as battery life time, network size and packet delay are determined. Based on the performance of the WSN network, proposed system can be utilized for disaster monitoring and prediction due to its low power profile and mesh routing feature.

Keywords: bluetooth low energy, disaster prediction, mesh routing protocols, wireless sensor networks

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9091 Revolutionizing Financial Forecasts: Enhancing Predictions with Graph Convolutional Networks (GCN) - Long Short-Term Memory (LSTM) Fusion

Authors: Ali Kazemi

Abstract:

Those within the volatile and interconnected international economic markets, appropriately predicting market trends, hold substantial fees for traders and financial establishments. Traditional device mastering strategies have made full-size strides in forecasting marketplace movements; however, monetary data's complicated and networked nature calls for extra sophisticated processes. This observation offers a groundbreaking method for monetary marketplace prediction that leverages the synergistic capability of Graph Convolutional Networks (GCNs) and Long Short-Term Memory (LSTM) networks. Our suggested algorithm is meticulously designed to forecast the traits of inventory market indices and cryptocurrency costs, utilizing a comprehensive dataset spanning from January 1, 2015, to December 31, 2023. This era, marked by sizable volatility and transformation in financial markets, affords a solid basis for schooling and checking out our predictive version. Our algorithm integrates diverse facts to construct a dynamic economic graph that correctly reflects market intricacies. We meticulously collect opening, closing, and high and low costs daily for key inventory marketplace indices (e.g., S&P 500, NASDAQ) and widespread cryptocurrencies (e.g., Bitcoin, Ethereum), ensuring a holistic view of marketplace traits. Daily trading volumes are also incorporated to seize marketplace pastime and liquidity, providing critical insights into the market's shopping for and selling dynamics. Furthermore, recognizing the profound influence of the monetary surroundings on financial markets, we integrate critical macroeconomic signs with hobby fees, inflation rates, GDP increase, and unemployment costs into our model. Our GCN algorithm is adept at learning the relational patterns amongst specific financial devices represented as nodes in a comprehensive market graph. Edges in this graph encapsulate the relationships based totally on co-movement styles and sentiment correlations, enabling our version to grasp the complicated community of influences governing marketplace moves. Complementing this, our LSTM algorithm is trained on sequences of the spatial-temporal illustration discovered through the GCN, enriched with historic fee and extent records. This lets the LSTM seize and expect temporal marketplace developments accurately. Inside the complete assessment of our GCN-LSTM algorithm across the inventory marketplace and cryptocurrency datasets, the version confirmed advanced predictive accuracy and profitability compared to conventional and opportunity machine learning to know benchmarks. Specifically, the model performed a Mean Absolute Error (MAE) of 0.85%, indicating high precision in predicting day-by-day charge movements. The RMSE was recorded at 1.2%, underscoring the model's effectiveness in minimizing tremendous prediction mistakes, which is vital in volatile markets. Furthermore, when assessing the model's predictive performance on directional market movements, it achieved an accuracy rate of 78%, significantly outperforming the benchmark models, averaging an accuracy of 65%. This high degree of accuracy is instrumental for techniques that predict the course of price moves. This study showcases the efficacy of mixing graph-based totally and sequential deep learning knowledge in economic marketplace prediction and highlights the fee of a comprehensive, records-pushed evaluation framework. Our findings promise to revolutionize investment techniques and hazard management practices, offering investors and economic analysts a powerful device to navigate the complexities of cutting-edge economic markets.

Keywords: financial market prediction, graph convolutional networks (GCNs), long short-term memory (LSTM), cryptocurrency forecasting

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9090 Design and Development of Real-Time Optimal Energy Management System for Hybrid Electric Vehicles

Authors: Masood Roohi, Amir Taghavipour

Abstract:

This paper describes a strategy to develop an energy management system (EMS) for a charge-sustaining power-split hybrid electric vehicle. This kind of hybrid electric vehicles (HEVs) benefit from the advantages of both parallel and series architecture. However, it gets relatively more complicated to manage power flow between the battery and the engine optimally. The applied strategy in this paper is based on nonlinear model predictive control approach. First of all, an appropriate control-oriented model which was accurate enough and simple was derived. Towards utilization of this controller in real-time, the problem was solved off-line for a vast area of reference signals and initial conditions and stored the computed manipulated variables inside look-up tables. Look-up tables take a little amount of memory. Also, the computational load dramatically decreased, because to find required manipulated variables the controller just needed a simple interpolation between tables.

Keywords: hybrid electric vehicles, energy management system, nonlinear model predictive control, real-time

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9089 Wind Generator Control in Isolated Site

Authors: Glaoui Hachemi

Abstract:

Wind has been proven as a cost effective and reliable energy source. Technological advancements over the last years have placed wind energy in a firm position to compete with conventional power generation technologies. Algeria has a vast uninhabited land area where the south (desert) represents the greatest part with considerable wind regime. In this paper, an analysis of wind energy utilization as a viable energy substitute in six selected sites widely distributed all over the south of Algeria is presented. In this presentation, wind speed frequency distributions data obtained from the Algerian Meteorological Office are used to calculate the average wind speed and the available wind power. The annual energy produced by the Fuhrlander FL 30 wind machine is obtained using two methods. The analysis shows that in the southern Algeria, at 10 m height, the available wind power was found to vary between 160 and 280 W/m2, except for Tamanrasset. The highest potential wind power was found at Adrar, with 88 % of the time the wind speed is above 3 m/s. Besides, it is found that the annual wind energy generated by that machine lie between 33 and 61 MWh, except for Tamanrasset, with only 17 MWh. Since the wind turbines are usually installed at a height greater than 10 m, an increased output of wind energy can be expected. However, the wind resource appears to be suitable for power production on the south and it could provide a viable substitute to diesel oil for irrigation pumps and electricity generation. In this paper, a model of the wind turbine (WT) with permanent magnet generator (PMSG) and its associated controllers is presented. The increase of wind power penetration in power systems has meant that conventional power plants are gradually being replaced by wind farms. In fact, today wind farms are required to actively participate in power system operation in the same way as conventional power plants. In fact, power system operators have revised the grid connection requirements for wind turbines and wind farms, and now demand that these installations be able to carry out more or less the same control tasks as conventional power plants. For dynamic power system simulations, the PMSG wind turbine model includes an aerodynamic rotor model, a lumped mass representation of the drive train system and generator model. In this paper, we propose a model with an implementation in MATLAB / Simulink, each of the system components off-grid small wind turbines.

Keywords: windgenerator systems, permanent magnet synchronous generator (PMSG), wind turbine (WT) modeling, MATLAB simulink environment

Procedia PDF Downloads 338
9088 A Systematic Review of Business Strategies Which Can Make District Heating a Platform for Sustainable Development of Other Sectors

Authors: Louise Ödlund, Danica Djuric Ilic

Abstract:

Sustainable development includes many challenges related to energy use, such as (1) developing flexibility on the demand side of the electricity systems due to an increased share of intermittent electricity sources (e.g., wind and solar power), (2) overcoming economic challenges related to an increased share of renewable energy in the transport sector, (3) increasing efficiency of the biomass use, (4) increasing utilization of industrial excess heat (e.g., approximately two thirds of the energy currently used in EU is lost in the form of excess and waste heat). The European Commission has been recognized DH technology as of essential importance to reach sustainability. Flexibility in the fuel mix, and possibilities of industrial waste heat utilization, combined heat, and power (CHP) production and energy recovery through waste incineration, are only some of the benefits which characterize DH technology. The aim of this study is to provide an overview of the possible business strategies which would enable DH to have an important role in future sustainable energy systems. The methodology used in this study is a systematic literature review. The study includes a systematic approach where DH is seen as a part of an integrated system that consists of transport , industrial-, and electricity sectors as well. The DH technology can play a decisive role in overcoming the sustainability challenges related to our energy use. The introduction of biofuels in the transport sector can be facilitated by integrating biofuel and DH production in local DH systems. This would enable the development of local biofuel supply chains and reduce biofuel production costs. In this way, DH can also promote the development of biofuel production technologies that are not yet developed. Converting energy for running the industrial processes from fossil fuels and electricity to DH (above all biomass and waste-based DH) and delivering excess heat from industrial processes to the local DH systems would make the industry less dependent on fossil fuels and fossil fuel-based electricity, as well as the increasing energy efficiency of the industrial sector and reduce production costs. The electricity sector would also benefit from these measures. Reducing the electricity use in the industry sector while at the same time increasing the CHP production in the local DH systems would (1) replace fossil-based electricity production with electricity in biomass- or waste-fueled CHP plants and reduce the capacity requirements from the national electricity grid (i.e., it would reduce the pressure on the bottlenecks in the grid). Furthermore, by operating their central controlled heat pumps and CHP plants depending on the intermittent electricity production variation, the DH companies may enable an increased share of intermittent electricity production in the national electricity grid.

Keywords: energy system, district heating, sustainable business strategies, sustainable development

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9087 Youth NEET in Albania: Current Situation and Outreach Mechanisms

Authors: Emiljan Karma

Abstract:

One of the major problems of the present is young people who are not concerned with employment, education, or training (NEETs). Unfortunately, this group of people in Albania is a considerable part of working-age people, and despite the measures taken, they remain a major problem. NEETs in Albania are very heterogeneous. This is since youth unemployment and inactivity rate are at a very high level (Albania has the highest NEET rate among EU candidates/potential candidates’ countries and EU countries); the high level of NEET rate in Albania means that government agencies responsible for labour market regulation and other social actors interested in the phenomenon (representatives of employees, representatives of employers, non-governmental organizations, etc.) did not effectively materialize the policies in the field of youth employment promotion. The National Agency for Employment and Skills (NAES) delivers measures specifically designed to target unemployed youth, being the key stakeholder in the implementation of employment policies and skills development in Albania. In the context of identifying and assisting NEETs, this role becomes even stronger. The experience of different EU countries (e.g., Youth Guarantee) indicates that there are different policy-making structures and various outreach mechanisms for constraining the youth NEET phenomenon. The purpose of this research is to highlight: (1) The identification of NEETs feature in Albania; (2) The identification of tailored and efficient outreach mechanisms to assist vulnerable NEETs; (3) The fundamental importance of stakeholders’ partnership at central and regional level.

Keywords: labor market, NEETs, non-registered NEETs, unemployment

Procedia PDF Downloads 274
9086 Optimization of Biomass Production and Lipid Formation from Chlorococcum sp. Cultivation on Dairy and Paper-Pulp Wastewater

Authors: Emmanuel C. Ngerem

Abstract:

The ever-increasing depletion of the dominant global form of energy (fossil fuels) calls for the development of sustainable and green alternative energy sources such as bioethanol, biohydrogen, and biodiesel. The production of the major biofuels relies on biomass feedstocks that are mainly derived from edible food crops and some inedible plants. One suitable feedstock with great potential as raw material for biofuel production is microalgal biomass. Despite the tremendous attributes of microalgae as a source of biofuel, their cultivation requires huge volumes of freshwater, thus posing a serious threat to commercial-scale production and utilization of algal biomass. In this study, a multi-media wastewater mixture for microalgae growth was formulated and optimized. Moreover, the obtained microalgae biomass was pre-treated to reduce sugar recovery and was compared with previous studies on microalgae biomass pre-treatment. The formulated and optimized mixed wastewater media for biomass and lipid accumulation was established using the simplex lattice mixture design. Based on the superposition approach of the potential results, numerical optimization was conducted, followed by the analysis of biomass concentration and lipid accumulation. The coefficients of regression (R²) of 0.91 and 0.98 were obtained for biomass concentration and lipid accumulation models, respectively. The developed optimization model predicted optimal biomass concentration and lipid accumulation of 1.17 g/L and 0.39 g/g, respectively. It suggested 64.69% dairy wastewater (DWW) and 35.31% paper and pulp wastewater (PWW) mixture for biomass concentration, 34.21% DWW, and 65.79% PWW for lipid accumulation. Experimental validation generated 0.94 g/L and 0.39 g/g of biomass concentration and lipid accumulation, respectively. The obtained microalgae biomass was pre-treated, enzymatically hydrolysed, and subsequently assessed for reducing sugars. The optimization of microwave pre-treatment of Chlorococcum sp. was achieved using response surface methodology (RSM). Microwave power (100 – 700 W), pre-treatment time (1 – 7 min), and acid-liquid ratio (1 – 5%) were selected as independent variables for RSM optimization. The optimum conditions were achieved at microwave power, pre-treatment time, and acid-liquid ratio of 700 W, 7 min, and 32.33:1, respectively. These conditions provided the highest amount of reducing sugars at 10.73 g/L. Process optimization predicted reducing sugar yields of 11.14 g/L on microwave-assisted pre-treatment of 2.52% HCl for 4.06 min at 700 watts. Experimental validation yielded reducing sugars of 15.67 g/L. These findings demonstrate that dairy wastewater and paper and pulp wastewater that could pose a serious environmental nuisance. They could be blended to form a suitable microalgae growth media, consolidating the potency of microalgae as a viable feedstock for fermentable sugars. Also, the outcome of this study supports the microalgal wastewater biorefinery concept, where wastewater remediation is coupled with bioenergy production.

Keywords: wastewater cultivation, mixture design, lipid, biomass, nutrient removal, microwave, Chlorococcum, raceway pond, fermentable sugar, modelling, optimization

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9085 From Ride-Hailing App to Diversified and Sustainable Platform Business Model

Authors: Ridwan Dewayanto Rusli

Abstract:

We show how prisoner's dilemma-type competition problems can be mitigated through rapid platform diversification and ecosystem expansion. We analyze a ride-hailing company in Southeast Asia, Gojek, whose network grew to more than 170 million users comprising consumers, partner drivers, merchants, and complementors within a few years and has already achieved higher contribution margins than ride-hailing peers Uber and Lyft. Its ecosystem integrates ride-hailing, food delivery and logistics, merchant solutions, e-commerce, marketplace and advertising, payments, and fintech offerings. The company continues growing its network of complementors and App developers, expanding content and gaining critical mass in consumer data analytics and advertising. We compare the company's growth and diversification trajectory with those of its main international rivals and peers. The company's rapid growth and future potential are analyzed using Cusumano's (2012) Staying Power and Six Principles, Hax and Wilde's (2003) and Hax's (2010) The Delta Model as well as Santos' (2016) home-market advantages frameworks. The recently announced multi-billion-dollar merger with one of Southeast Asia's largest e-commerce majors lends additional support to the above arguments.

Keywords: ride-hailing, prisoner's dilemma, platform and ecosystem strategy, digital applications, diversification, home market advantages, e-commerce

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9084 Ambient Electrospray Deposition: An Efficient Technique to Immobilize Laccase on Cheap Electrodes With Unprecedented Reuse and Storage Performances

Authors: Mattea Carmen Castrovilli, Antonella Cartoni

Abstract:

Electrospray ionisation (ESI), a well-established technique widely used to produce ion beams of biomolecules in mass spectrometry (ESI-MS), can be used for ambient soft landing of enzymes on a specific substrate. In this work, we show how the ambient electrospray deposition (ESD) technique can be successfully exploited for manufacturing a promising, green-friendly electrochemical amperometric laccase-based biosensor with unprecedented reuse and storage performance. These biosensors have been manufactured by spraying a laccase solution of 2μg/μL at 20% of methanol on a commercial carbon screen printed electrode (C-SPE) using a custom ESD set-up. The laccase-based ESD biosensor has been tested against catechol compounds in the linear range 2-100 μM, with a limit of detection of 1.7 μM, without interference from cadmium, chrome, arsenic, and zinc and without any memory effects, but showing a matrix effect in lake and well water. The ESD biosensor shows enhanced performances compared to the ones fabricated with other immobilization methods, like drop-casting. Indeed, it retains 100% activity up to two months of storage at ambient conditions without any special care and working stability up to 63 measurements on the same electrode just prepared and 20 on a one-year-old electrode subjected to redeposition together with a 100% resistance to use of the same electrode in subsequent days. The ESD method is a one-step, environmentally friendly method that allows the deposition of the bio-recognition layer without using any additional chemicals. The promising results in terms of storage and working stability also obtained with the more fragile lactate oxidase enzyme suggest these improvements should be attributed to the ESD technique rather than to the bioreceptor, highlighting how the ESD could be useful in reducing pollution from disposable devices. Acknowledgment: The understanding at the molecular level of this promising biosensor by using different spectroscopies, microscopies and analytical techniques is the subject of our PRIN 2022 project ESILARANTE.

Keywords: reuse, storage performance, immobilization, electrospray deposition, biosensor, laccase, catechol detection, green chemistry

Procedia PDF Downloads 62
9083 Estimating the Traffic Impacts of Green Light Optimal Speed Advisory Systems Using Microsimulation

Authors: C. B. Masera, M. Imprialou, L. Budd, C. Morton

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Even though signalised intersections are necessary for urban road traffic management, they can act as bottlenecks and disrupt traffic operations. Interrupted traffic flow causes congestion, delays, stop-and-go conditions (i.e. excessive acceleration/deceleration) and longer journey times. Vehicle and infrastructure connectivity offers the potential to provide improved new services with additional functions of assisting drivers. This paper focuses on one of the applications of vehicle-to-infrastructure communication namely Green Light Optimal Speed Advisory (GLOSA). To assess the effectiveness of GLOSA in the urban road network, an integrated microscopic traffic simulation framework is built into VISSIM software. Vehicle movements and vehicle-infrastructure communications are simulated through the interface of External Driver Model. A control algorithm is developed for recommending an optimal speed that is continuously updated in every time step for all vehicles approaching a signal-controlled point. This algorithm allows vehicles to pass a traffic signal without stopping or to minimise stopping times at a red phase. This study is performed with all connected vehicles at 100% penetration rate. Conventional vehicles are also simulated in the same network as a reference. A straight road segment composed of two opposite directions with two traffic lights per lane is studied. The simulation is implemented under 150 vehicles per hour and 200 per hour traffic volume conditions to identify how different traffic densities influence the benefits of GLOSA. The results indicate that traffic flow is improved by the application of GLOSA. According to this study, vehicles passed through the traffic lights more smoothly, and waiting times were reduced by up to 28 seconds. Average delays decreased for the entire network by 86.46% and 83.84% under traffic densities of 150 vehicles per hour per lane and 200 vehicles per hour per lane, respectively.

Keywords: connected vehicles, GLOSA, intelligent transport systems, vehicle-to-infrastructure communication

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9082 Interaction between NiCl2 and Selenium on Energy Profiles in Wistar albino Preimplanted Rats

Authors: O. Adjroud

Abstract:

The present study was conducted to investigate the interaction between selenium (Se) and chloride nickel (NiCl2) on energy profiles in Wistar albino preimplanted rats. NiCl2 was given on day 3 of pregnancy either in distilled drinking water at a dose of 20 mg/L/day for 16 consecutive days or as a single subcutaneous (s.c.) dose of 25, 50, or 100 mg/kg. Se was given as a s.c. injection (0.3 mg/kg) together with the higher dose (100 mg/kg) of NiCl2. Changes in energy profiles were evaluated in treated and control groups on days 5 and 20 of gestation. NiCl2 s.c. induced a significant increase in plasma glucose on day 20 of pregnancy. NiCl2 s.c. induced on day 5 and 20 of gestation a significant decrease in plasma triglycerides, with the higher dose. This decrease was maintained at day 20 of gestation with doses of 50 mg /kg. In addition, NiCl2 s.c. caused on day 5 of gestation a significant decrease in plasma total cholesterol with the low and medium doses. The pretreatment with Se reversed the effects of NiCl2 on plasma glucose, total cholesterol and triglycerides levels. NiCl2 administered in the drinking water augmented significantly the plasma triglycerides and total cholesterol levels and slighty the plasma glucose on day 20 of gestation, while on day 5 of gestation NiCl2 s.c. Induced a significant decrease in cholesterol. Three doses of NiCl2 (sc) induced severe alterations in liver and architecture which are markedly improved by Selenium. These results suggested that selenium has protective effects on energy profiles against the toxicity induced by NiCl2 administered subcutaneously in preimplanted rats.

Keywords: hepatotoxicity, nickel chloride, preimplanted rat, biochemical parameters

Procedia PDF Downloads 408
9081 Experimental Study of Solar Drying of Verbena in Three Types of Solar Dryers

Authors: Llham Lhoume, Rachid Tadili, Nora Arbaoui

Abstract:

One of the most crucial ways to combat food insecurity is to minimize crop losses, food drying is one of the most organic, effective, low-cost and energy-efficient food preservation methods. In this regard, we undertake in this study an experimental evaluation and analysis of the thermal performance of different natural convection drying systems: a solar greenhouse dryer, an indirect solar dryer with a single compartment and a solar dryer with two compartments. These systems have been implemented at the Solar Energy and Environment Laboratory of Mohammed V University (Morocco). The objective of this work is to study the feasibility of converting a solar greenhouse into a solar dryer for use during the summer. On the other hand, to study the thermal performances of this greenhouse dryer by comparing it with other solar dryers. The experimental study showed that the drying of verbena leaves took 6 hours in the indirect dryer 1, 3 hours in the indirect dryer, 2 and 4 hours in the greenhouse dryer, but the amortization period of the solar greenhouse dryer is lower than the other two solar dryers. The results of this study provide key information on the implementation and performance of these systems for drying a food of great global interest.

Keywords: solar energy, drying, agriculture, biotechnologie

Procedia PDF Downloads 80
9080 A Way to Recognize Origin of Soil Conditioners

Authors: Laura Santagostini, Vittoria Guglielmi

Abstract:

The meaning of the word 'Nature' (literally 'that which is about to be born') has accompanied researchers throughout their study of the environment and has led to the design of technical means to improve the properties of the soil, modifying its structure and/or consistency, thus favouring the emergence and growth of plants. These include soil improvers, i.e. any substance, natural or synthetic, mineral or organic, capable of modifying and improving the chemical, physical, biological and mechanical properties and characteristics of the soil. In particular, GCSCs (Green Composted Soil Conditioners) are soil conditioners produced through a controlled process of transforming selected organic green waste materials, such as clippings from the maintenance of ornamental greenery, crop residues and other plant waste. The use of GCSC in horticulture, fruit growing, industrial cultivation and nursery gardening is an active way to return organic carbon to the soil, thus limiting CO2 emissions and the production of greenhouse gases, and also to limit the environmental impact of peat extraction, which is normally used in these areas of application. With a view to distinguish between GCSC and peats and to assess what further contributions GCSC can provide to the soil and growing plants, we studied the behaviour of the two substrates by chromatographic techniques. After treating the individual soil improvers with different solvents, used individually or by applying a polarity gradient, the extracts obtained were analysed by HPLC and LCMS in order to assess their composition mainly from a qualitative point of view. Data obtained show in GCSC the presence of polyphenolic derivatives attributable to the degradation of plant material and potentially useful for the development and growth of young plants, while commercial peat-based products only sporadically showed the presence of recognisable molecules, confirming the lower complexity of the matrix under analysis. These results allowed us to distinguish the two different types of soil conditioner based on their chromatographic profiles.

Keywords: chromatographic profile, HPLC, polyphenols, soil conditioners

Procedia PDF Downloads 124
9079 Sustainable Connectivity: Power-Line Communications for Home Automation in Ethiopia

Authors: Tsegahun Milkesa

Abstract:

This study investigates the implementation of Power-Line Communications (PLC) as a sustainable solution for home automation in Ethiopia. With the country's growing technological landscape and the quest for efficient energy use, this research explores the potential of PLC to facilitate smart home systems, aiming to enhance connectivity and energy management. The primary objective is to assess the feasibility and effectiveness of PLC in Ethiopian residences, considering factors such as infrastructure compatibility, reliability, and scalability. By analyzing existing PLC technologies and their adaptability to local contexts, this study aims to propose optimized solutions tailored to the Ethiopian environment. The research methodology involves a combination of literature review, field surveys, and experimental setups to evaluate PLC's performance in transmitting data and controlling various home appliances. Additionally, socioeconomic implications, including affordability and accessibility, are examined to ensure the technology's inclusivity in diverse Ethiopian households. The findings will contribute insights into the viability of PLC for sustainable connectivity in Ethiopian homes, shedding light on its potential to revolutionize energy-efficient and interconnected living spaces. Ultimately, this study seeks to pave the way for accessible and eco-friendly smart home solutions in Ethiopia, aligning with the nation's aspirations for technological advancement and sustainability.

Keywords: sustainable connectivity, power-line communications (PLC), home automation, Ethiopia, smart homes, energy efficiency, connectivity solutions, infrastructure development, sustainable living

Procedia PDF Downloads 76
9078 Photocatalytic Hydrogen Production from Butanol over Ag/TiO2

Authors: Thabelo Nelushi, Michael Scurrell, Tumelo Seadira

Abstract:

Global warming is one of the most important environmental issues which arise from occurrence of gases such as carbon dioxide (CO2) and methane (CH4) in the atmosphere. Exposure to these greenhouse gases results in health risk. Hydrogen is regarded as an alternative energy source which is a clean energy carrier for the future. There are different methods to produce hydrogen such as steam reforming, coal gasification etc., however the challenge with these processes is that they emit CO and CO2 gases and are costly. Photocatalytic reforming is a substitute process which is fascinating due to the combination of solar energy and renewable sources and the use of semiconductor materials such as catalysts. TiO2 is regarded as the most promising catalysts. TiO2 nanoparticles prepared by hydrothermal method and Ag/TiO2 are being investigated for photocatalytic production of hydrogen from butanol. The samples were characterized by raman spectroscopy, TEM/SEM, XRD, XPS, EDAX, DRS and BET surface area. 2 wt% Ag-doped TiO2 nanoparticle showed enhanced hydrogen production compared to a non-doped TiO2. The results of characterization and photoactivity shows that TiO2 nanoparticles play a very important role in producing high hydrogen by utilizing solar irradiation.

Keywords: butanol, hydrogen production, silver particles, TiO2 nanoparticles

Procedia PDF Downloads 210
9077 Mapping the Turbulence Intensity and Excess Energy Available to Small Wind Systems over 4 Major UK Cities

Authors: Francis C. Emejeamara, Alison S. Tomlin, James Gooding

Abstract:

Due to the highly turbulent nature of urban air flows, and by virtue of the fact that turbines are likely to be located within the roughness sublayer of the urban boundary layer, proposed urban wind installations are faced with major challenges compared to rural installations. The challenge of operating within turbulent winds can however, be counteracted by the development of suitable gust tracking solutions. In order to assess the cost effectiveness of such controls, a detailed understanding of the urban wind resource, including its turbulent characteristics, is required. Estimating the ambient turbulence and total kinetic energy available at different control response times is essential in evaluating the potential performance of wind systems within the urban environment should effective control solutions be employed. However, high resolution wind measurements within the urban roughness sub-layer are uncommon, and detailed CFD modelling approaches are too computationally expensive to apply routinely on a city wide scale. This paper therefore presents an alternative semi-empirical methodology for estimating the excess energy content (EEC) present in the complex and gusty urban wind. An analytical methodology for predicting the total wind energy available at a potential turbine site is proposed by assessing the relationship between turbulence intensities and EEC, for different control response times. The semi-empirical model is then incorporated with an analytical methodology that was initially developed to predict mean wind speeds at various heights within the built environment based on detailed mapping of its aerodynamic characteristics. Based on the current methodology, additional estimates of turbulence intensities and EEC allow a more complete assessment of the available wind resource. The methodology is applied to 4 UK cities with results showing the potential of mapping turbulence intensities and the total wind energy available at different heights within each city. Considering the effect of ambient turbulence and choice of wind system, the wind resource over neighbourhood regions (of 250 m uniform resolution) and building rooftops within the 4 cities were assessed with results highlighting the promise of mapping potential turbine sites within each city.

Keywords: excess energy content, small-scale wind, turbulence intensity, urban wind energy, wind resource assessment

Procedia PDF Downloads 474
9076 Investigations of Flow Field with Different Turbulence Models on NREL Phase VI Blade

Authors: T. Y. Liu, C. H. Lin, Y. M. Ferng

Abstract:

Wind energy is one of the clean renewable energy. However, the low frequency (20-200HZ) noise generated from the wind turbine blades, which bothers the residents, becomes the major problem to be developed. It is useful for predicting the aerodynamic noise by flow field and pressure distribution analysis on the wind turbine blades. Therefore, the main objective of this study is to use different turbulence models to analyse the flow field and pressure distributions of the wing blades. Three-dimensional Computation Fluid Dynamics (CFD) simulation of the flow field was used to calculate the flow phenomena for the National Renewable Energy Laboratory (NREL) Phase VI horizontal axis wind turbine rotor. Two different flow cases with different wind speeds were investigated: 7m/s with 72rpm and 15m/s with 72rpm. Four kinds of RANS-based turbulence models, Standard k-ε, Realizable k-ε, SST k-ω, and v2f, were used to predict and analyse the results in the present work. The results show that the predictions on pressure distributions with SST k-ω and v2f turbulence models have good agreements with experimental data.

Keywords: horizontal axis wind turbine, turbulence model, noise, fluid dynamics

Procedia PDF Downloads 265
9075 A New Approach to the Boom Welding Technique by Determining Seam Profile Tracking

Authors: Muciz Özcan, Mustafa Sacid Endiz, Veysel Alver

Abstract:

In this paper we present a new approach to the boom welding related to the mobile cranes manufacturing, implementing a new method in order to get homogeneous welding quality and reduced energy usage during booms production. We aim to get the realization of the same welding quality carried out on the boom in every region during the manufacturing process and to detect the possible welding errors whether they could be eliminated using laser sensors. We determine the position of the welding region directly through our system and with the help of the welding oscillator we are able to perform a proper boom welding. Errors that may occur in the welding process can be observed by monitoring and eliminated by means of an operator. The major modification in the production of the crane booms will be their form of the booms. Although conventionally, more than one welding is required to perform this process, with the suggested concept, only one particular welding is sufficient, which will be more energy and environment-friendly. Consequently, as only one welding is needed for the manufacturing of the boom, the particular welding quality becomes more essential. As a way to satisfy the welding quality, a welding manipulator was made and fabricated. By using this welding manipulator, the risks of involving dangerous gases formed during the welding process for the operator and the surroundings are diminished as much as possible.

Keywords: boom welding, seam tracking, energy saving, global warming

Procedia PDF Downloads 346
9074 The ‘Accompanying Spouse Dependent Visa Status’: Challenges and Constraints Faced by Zimbabwean Immigrant Women in Integration into South Africa’s Formal Labour Market

Authors: Rujeko Samanthia Chimukuche

Abstract:

Introduction: Transboundary migration at both regional and continental levels has become the defining feature of the 21st century. The recent global migration crisis due to economic strife and war brings back to the fore an old age problem, but with fresh challenges. Migration and forced displacement are issues that require long-term solutions. In South Africa, for example, whilst much attention has been placed on xenophobic attacks and other issues at the nexus of immigrant and indigenous communities, the limited focus has been placed on the integration, specifically formal labour integration of immigrant communities and the gender inequalities that are prevalent. Despite noble efforts by South Africa, hosting several immigrants, several challenges arise in integrating the migrants into society as it is often difficult to harmonize the interests of indigenous communities and those of foreign nationals. This research study has aimed to fill in the gaps by analyzing how stringent immigration and visa regulations prevent skilled migrant women spouses from employment, which often results in several societal vices, including domestic abuse, minimum or no access to important services such as healthcare, education, social welfare among others. Methods: Using a qualitative approach, the study analyzed South Africa migration and labour policies in terms of mainstreaming the gender needs of skilled migrant women. Secondly, the study highlighted the migratory experiences and constraints of skilled Zimbabwean women migrant spouses in South Africa labour integration. The experiences of these women have shown the gender inequalities of the migratory policies. Thirdly, Zimbabwean women's opportunities and/or challenges in integration into the South African formal labour market were explored. Lastly, practical interventions to support the integration of skilled migrant women spouses into South Africa’s formal labour market were suggested. Findings: Key findings show that gender dynamics are pivotal in migration patterns and the mainstreaming of gender in migration policies. This study, therefore, contributed to the fields of gender and migration by examining ways in which gender rights of skilled migrant women spouses can be incorporated in labour integration policy making.

Keywords: accompanying spouse visa, gender-migration, labour-integration, Zimbabwean women

Procedia PDF Downloads 120
9073 Research on Energy Field Intervening in Lost Space Renewal Strategy

Authors: Tianyue Wan

Abstract:

Lost space is the space that has not been used for a long time and is in decline, proposed by Roger Trancik. And in his book Finding Lost Space: Theories of Urban Design, the concept of lost space is defined as those anti-traditional spaces that are unpleasant, need to be redesigned, and have no benefit to the environment and users. They have no defined boundaries and do not connect the various landscape elements in a coherent way. With the rapid development of urbanization in China, the blind areas of urban renewal have become a chaotic lost space that is incompatible with the rapid development of urbanization. Therefore, lost space needs to be reconstructed urgently under the background of infill development and reduction planning in China. The formation of lost space is also an invisible division of social hierarchy. This paper tries to break down the social class division and the estrangement between people through the regeneration of lost space. Ultimately, it will enhance vitality, rebuild a sense of belonging, and create a continuous open public space for local people. Based on the concept of lost space and energy field, this paper clarifies the significance of the energy field in the lost space renovation. Then it introduces the energy field into lost space by using the magnetic field in physics as a prototype. The construction of the energy field is support by space theory, spatial morphology analysis theory, public communication theory, urban diversity theory and city image theory. Taking Wuhan’s Lingjiao Park of China as an example, this paper chooses the lost space on the west side of the park as the research object. According to the current situation of this site, the energy intervention strategies are proposed from four aspects: natural ecology, space rights, intangible cultural heritage and infrastructure configuration. And six specific lost space renewal methods are used in this work, including “riveting”, “breakthrough”, “radiation”, “inheritance”, “connection” and “intersection”. After the renovation, space will be re-introduced into the active crow. The integration of activities and space creates a sense of place, improve the walking experience, restores the vitality of the space, and provides a reference for the reconstruction of lost space in the city.

Keywords: dynamic vitality intervention, lost space, space vitality, sense of place

Procedia PDF Downloads 112
9072 Mitigating CO2 Emissions in Developing Countries: The Role of Foreign Aid

Authors: Mohamed Boly

Abstract:

This paper investigates the link between foreign aid and environmental protection, specifically CO2 emissions, in aid recipient countries. Conflicting results exist in the literature regarding the environmental impact of foreign aid. We come to reconcile them, using Project-Level Aid Data with environment codes, over the 1980- 2010 period. The disaggregation of aid according to the environmental codes, show why the results of previous literature remain very mixed. Moreover, we find that the effect of environmental aid is conditioned by some specific characteristics of the recipient country, independently of the donor.

Keywords: foreign aid, green aid, interactive effects, pollution

Procedia PDF Downloads 305
9071 Feasibility Study and Experiment of On-Site Nuclear Material Identification in Fukushima Daiichi Fuel Debris by Compact Neutron Source

Authors: Yudhitya Kusumawati, Yuki Mitsuya, Tomooki Shiba, Mitsuru Uesaka

Abstract:

After the Fukushima Daiichi nuclear power reactor incident, there are a lot of unaccountable nuclear fuel debris in the reactor core area, which is subject to safeguard and criticality safety. Before the actual precise analysis is performed, preliminary on-site screening and mapping of nuclear debris activity need to be performed to provide a reliable data on the nuclear debris mass-extraction planning. Through a collaboration project with Japan Atomic Energy Agency, an on-site nuclear debris screening system by using dual energy X-Ray inspection and neutron energy resonance analysis has been established. By using the compact and mobile pulsed neutron source constructed from 3.95 MeV X-Band electron linac, coupled with Tungsten as electron-to-photon converter and Beryllium as a photon-to-neutron converter, short-distance neutron Time of Flight measurement can be performed. Experiment result shows this system can measure neutron energy spectrum up to 100 eV range with only 2.5 meters Time of Flightpath in regards to the X-Band accelerator’s short pulse. With this, on-site neutron Time of Flight measurement can be used to identify the nuclear debris isotope contents through Neutron Resonance Transmission Analysis (NRTA). Some preliminary NRTA experiments have been done with Tungsten sample as dummy nuclear debris material, which isotopes Tungsten-186 has close energy absorption value with Uranium-238 (15 eV). The results obtained shows that this system can detect energy absorption in the resonance neutron area within 1-100 eV. It can also detect multiple elements in a material at once with the experiment using a combined sample of Indium, Tantalum, and silver makes it feasible to identify debris containing mixed material. This compact neutron Time of Flight measurement system is a great complementary for dual energy X-Ray Computed Tomography (CT) method that can identify atomic number quantitatively but with 1-mm spatial resolution and high error bar. The combination of these two measurement methods will able to perform on-site nuclear debris screening at Fukushima Daiichi reactor core area, providing the data for nuclear debris activity mapping.

Keywords: neutron source, neutron resonance, nuclear debris, time of flight

Procedia PDF Downloads 238
9070 A-Score, Distress Prediction Model with Earning Response during the Financial Crisis: Evidence from Emerging Market

Authors: Sumaira Ashraf, Elisabete G.S. Félix, Zélia Serrasqueiro

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Traditional financial distress prediction models performed well to predict bankrupt and insolvent firms of the developed markets. Previous studies particularly focused on the predictability of financial distress, financial failure, and bankruptcy of firms. This paper contributes to the literature by extending the definition of financial distress with the inclusion of early warning signs related to quotation of face value, dividend/bonus declaration, annual general meeting, and listing fee. The study used five well-known distress prediction models to see if they have the ability to predict early warning signs of financial distress. Results showed that the predictive ability of the models varies over time and decreases specifically for the sample with early warning signs of financial distress. Furthermore, the study checked the differences in the predictive ability of the models with respect to the financial crisis. The results conclude that the predictive ability of the traditional financial distress prediction models decreases for the firms with early warning signs of financial distress and during the time of financial crisis. The study developed a new model comprising significant variables from the five models and one new variable earning response. This new model outperforms the old distress prediction models before, during and after the financial crisis. Thus, it can be used by researchers, organizations and all other concerned parties to indicate early warning signs for the emerging markets.

Keywords: financial distress, emerging market, prediction models, Z-Score, logit analysis, probit model

Procedia PDF Downloads 243