Search results for: market and product values

Authors: A. Alyaaria, b, J. P. Wignerona, A. Ducharneb, Y. Kerrc, P. de Rosnayd, R. de Jeue, A. Govinda, A. Al Bitarc, C. Albergeld, J. Sabaterd, C. Moisya, P. Richaumec, A. Mialonc

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Global Level-3 surface soil moisture (SSM) maps from the passive microwave soil moisture and Ocean Salinity satellite (SMOSL3) have been released. To further improve the Level-3 retrieval algorithm, evaluation of the accuracy of the spatio-temporal variability of the SMOS Level 3 products (referred to here as SMOSL3) is necessary. In this study, a comparative analysis of SMOSL3 with a SSM product derived from the observations of the Advanced Microwave Scanning Radiometer (AMSR-E) computed by implementing the Land Parameter Retrieval Model (LPRM) algorithm, referred to here as AMSRM, is presented. The comparison of both products (SMSL3 and AMSRM) were made against SSM products produced by a numerical weather prediction system (SM-DAS-2) at ECMWF (European Centre for Medium-Range Weather Forecasts) for the 03/2010-09/2011 period at global scale. The latter product was considered here a 'reference' product for the inter-comparison of the SMOSL3 and AMSRM products. Three statistical criteria were used for the evaluation, the correlation coefficient (R), the root-mean-squared difference (RMSD), and the bias. Global maps of these criteria were computed, taking into account vegetation information in terms of biome types and Leaf Area Index (LAI). We found that both the SMOSL3 and AMSRM products captured well the spatio-temporal variability of the SM-DAS-2 SSM products in most of the biomes. In general, the AMSRM products overestimated (i.e., wet bias) while the SMOSL3 products underestimated (i.e., dry bias) SSM in comparison to the SM-DAS-2 SSM products. In term of correlation values, the SMOSL3 products were found to better capture the SSM temporal dynamics in highly vegetated biomes ('Tropical humid', 'Temperate Humid', etc.) while best results for AMSRM were obtained over arid and semi-arid biomes ('Desert temperate', 'Desert tropical', etc.). When removing the seasonal cycles in the SSM time variations to compute anomaly values, better correlation with the SM-DAS-2 SSM anomalies were obtained with SMOSL3 than with AMSRM, in most of the biomes with the exception of desert regions. Eventually, we showed that the accuracy of the remotely sensed SSM products is strongly related to LAI. Both the SMOSL3 and AMSRM (slightly better) SSM products correlate well with the SM-DAS2 products over regions with sparse vegetation for values of LAI < 1 (these regions represent almost 50% of the pixels considered in this global study). In regions where LAI>1, SMOSL3 outperformed AMSRM with respect to SM-DAS-2: SMOSL3 had almost consistent performances up to LAI = 6, whereas AMSRM performance deteriorated rapidly with increasing values of LAI.

Keywords: remote sensing, microwave, soil moisture, AMSR-E, SMOS

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Authors: Ässia Boukhatmi, Roger Nyffenegger

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The expansion of solar energy as a means to address the climate crisis is undisputed, but the increasing number of new photovoltaic (PV) modules being put on the market is simultaneously leading to increased challenges in terms of managing the growing waste stream. Many of the discarded modules are still fully functional but are often damaged by improper handling after disassembly or not properly tested to be considered for a second life. In addition, the collection rate for dismantled PV modules in several European countries is only a fraction of previous projections, partly due to the increased number of illegal exports. The underlying problem for those market imperfections is an insufficient data exchange between the different actors along the PV value chain, as well as the limited traceability of PV panels during their lifetime. As part of the Horizon 2020 project CIRCUSOL, an asset database prototype was developed to tackle the described problems. In an iterative process applying the design science research methodology, different business models, as well as the technical implementation of the database, were established and evaluated. To explore the requirements of different stakeholders for the development of the database, surveys and in-depth interviews were conducted with various representatives of the solar industry. The proposed database prototype maps the entire value chain of PV modules, beginning with the digital product passport, which provides information about materials and components contained in every module. Product-related information can then be expanded with performance data of existing installations. This information forms the basis for the application of data analysis methods to forecast the appropriate end-of-life strategy, as well as the circular economy potential of PV modules, already before they arrive at the recycling facility. The database prototype could already be enriched with data from different data sources along the value chain. From a business model perspective, the database offers opportunities both in the area of reuse as well as with regard to the certification of sustainable modules. Here, participating actors have the opportunity to differentiate their business and exploit new revenue streams. Future research can apply this approach to further industry and product sectors, validate the database prototype in a practical context, and can serve as a basis for standardization efforts to strengthen the circular economy.

Keywords: business model, circular economy, database, design science research, solar industry

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Authors: Abdelghani Alidra, Mohamed Tahar Kimour

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Genetic algorithm must adapt themselves at design time to cope with the search problem specific requirements and at runtime to balance exploration and convergence objectives. In a previous article, we have shown that modeling and implementing Genetic Algorithms (GA) using the software product line (SPL) paradigm is very appreciable because they constitute a product family sharing a common base of code. In the present article we propose to extend the use of the feature model of the genetic algorithms family to model the potential states of the GA in what is called a Dynamic Software Product Line. The objective of this paper is the systematic generation of a reconfigurable architecture that supports the dynamic of the GA and which is easily deduced from the feature model. The resultant GA is able to perform dynamic reconfiguration autonomously to fasten the convergence process while producing better solutions. Another important advantage of our approach is the exploitation of recent advances in the domain of dynamic SPLs to enhance the performance of the GAs.

Keywords: self-adaptive genetic algorithms, software engineering, dynamic software product lines, reconfigurable architecture

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Authors: Chih-Hsiang Chang, Fang-Jyun Su

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This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.

Keywords: stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship

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Authors: Shraddha Jain Sharma, Ratnalata Gupta

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Predicting stock movements in the financial market is both difficult and rewarding. Analysts and academics are increasingly using advanced approaches such as machine learning techniques to anticipate stock price patterns, thanks to the expanding capacity of computing and the recent advent of graphics processing units and tensor processing units. Stock market prediction is a type of time series prediction that is incredibly difficult to do since stock prices are influenced by a variety of financial, socioeconomic, and political factors. Furthermore, even minor mistakes in stock market price forecasts can result in significant losses for companies that employ the findings of stock market price prediction for financial analysis and investment. Soft computing techniques are increasingly being employed for stock market prediction due to their better accuracy than traditional statistical methodologies. The proposed research looks at the need for soft computing techniques in stock market prediction, the numerous soft computing approaches that are important to the field, past work in the area with their prominent features, and the significant problems or issue domain that the area involves. For constructing a predictive model, the major focus is on neural networks and fuzzy logic. The stock market is extremely unpredictable, and it is unquestionably tough to correctly predict based on certain characteristics. This study provides a complete overview of the numerous strategies investigated for high accuracy prediction, with a focus on the most important characteristics.

Keywords: stock market prediction, artificial intelligence, artificial neural networks, fuzzy logic, accuracy, deep learning, machine learning, stock price, trading volume

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Authors: Mohamed A. Hegazy

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Most of Poly Vinyl Chloride (PVC) petrochemical companies produce huge amount of byproduct which characterized as carcinogenic liquid-wastes, insoluble in water, highly corrosive and highly offensive. This byproduct is partially use, a small part, in the production of hydrochloric acid and the huge part is a waste. Therefore, the aim of this work was to conversion of such PVC wastes, to an environmentally safe product that act as a corrosion Inhibitor for metals in ‎aqueous media and as a biocide for microorganisms. This conversion method was accomplished mainly to protect the environment and to produce high economic value-products. The conversion process was established and the final product was tested for the toxicity, water solubility in comparison to the crude product. Furthermore, the end product was tested as a corrosion inhibitor in 1M HCl and as a broad-spectrum biocide against standard microbial strains and against the environmentally isolated Sulfate-reducing bacteria (SRB) microbial community.

Keywords: PVC, surfactant, corrosion inhibitor, biocide, SRB

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Authors: Begzod Nishanov, Farhod Karimov

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Globalization and the internet have completely changed the way in which businesses operate as well as has equipped customers with endless potential. Today, consumers’ product choice is not only affected by branding, price and quality of the product, but also by the country-of-origin information. Precisely, ‘Made In’ label is considered as one of the driving factors which directly impact on consumers’ preferences. Generally, it is obvious that products manufactured in less developed countries are considered to be of lower quality and riskier compared to the products made in developed countries. In this regard, it is worth to note that this phenomenon is mainly applicable to western developed countries. However, there is a lack of empirical research on underlying the influence of country-of-origin phenomenon in emerging economies such as Uzbekistan. Today, Uzbek market is being dominated by growing number of foreign made products. Uzbek manufacturers are facing intense competition not only from local producers but also from the availability of foreign goods suppliers. Consequently, consumers are given wider choice of products than ever before. In this regard, it is important to define the importance of country-of-origin information in order to understand Uzbek consumers’ preference. The methodology of the research is formulated based on the methodology of previous papers. A total 527 online questionnaires were completed. Data analysis was conducted using factor analysis and analysis of variance test (ANOVA). Findings of the research support the view that Uzbek consumers attach great importance to the country-of-origin information of products. Precisely, it can be stated that Uzbek people perceive product quality by its ‘Made in...’ label, especially when buying high involvement goods such as car or refrigerator. Another findings of the paper show that products manufactured in developed countries including Germany, Japan and USA are found to be of high quality, while products manufactured in less developed countries are considered to be of lower quality. Marketers can use this information for segmentation purposes. For example, products manufactured in less developed countries can be targeted for low-to-middle income families while goods manufactured in developed countries can be targeted for higher income families. In conclusion, it can be stated that perceived product quality of products that are made in Uzbekistan has slightly increased since 18 years. It implies that nowadays products under ‘Made in Uzbekistan’ label is continually becoming available to many consumers in foreign markets, especially among Commonwealth of Independent States (CIS) countries. Therefore, conducting further research to explore the phenomenon of country-of-origin information and perceived product quality in emerging markets is of paramount importance.

Keywords: country-of-origin, consumer behavior, product evaluation, perceived quality

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Authors: Raju Chhetri

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Agroforestry is one of the main sources of livelihood among the people of Nepal. In particular, this is the only one mode of livelihood among the Chepangs. The monster earthquake (7.3 MW) that hit the country on the 25th of April in 2015 and many of its aftershocks had devastating effects. As a result, not only the big structures collapsed, it incurred great losses on fabrication, collection centers, schools, markets and other necessary service centers. Although there were a large number of aftershocks after the monster earthquake, the most devastating aftershock took place on 12th May, 2015, which measured 6.3 richter scale. Consequently, it caused more destruction of houses, further calamity to the lives of people, and public life got further perdition. This study was mainly carried out to find out the food security and market situation of Agroforestry product of the Chepang community in Raksirang VDC (one of the severely affected VDCs of Makwanpur district) due to the earthquake. A total of 40 households (12 percent) were randomly selected as a sample in ward number 7 only. Questionnaires and focus groups were used to gather primary data. Additional, two Focus Group Discussions (FGD) were convened in the study area to get some descriptive information on this study. Estimated 370 hectares of land, which was full of Agroforestry plantation, ruptured by the earthquake. It caused severe damages to the households, and a serious loss of food-stock, up to 60-80 percent (maize, millet, and rice). Instead of regular cereal intake, banana (Muas Paradisca) consumption was found ‘high scale’ in the emergency period. The market price of rice (37-44 NRS/Kg) increased by 18.9 percent. Some difference in the income range before and after the earthquake was observed. Before earthquake, sale of Agroforestry, and livestock products were continuing, but after the earthquake, Agroforestry product sale is the only one means of livelihood among Chepangs. Nearly 50-60 percent Agroforestry production of banana (Mass Paradisca), citrus (Citrus Lemon), pineapple (Ananus comosus) and broom grass (Thysanolaena maxima) declined, excepting for cash income from the residual. Heavy demands of Agroforestry product mentioned above lay high farm gate prices (50-100 percent) helps surveyed the community to continue livelihood from its sale. Out of the survey samples, 30 households (75 percent) respondents migrated to safe location due to land rupture, ongoing aftershocks, and landslides. Overall food security situation in this community is acute and challenging for the days to come. Immediate and long term both response from a relief agency concerning food, shelter and safe stocking of Agroforestry product is required to keep secured livelihood in Chepang community.

Keywords: earthquake, rupture, agroforestry, livelihood, indigenous, food security

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Authors: P. Kanakasabapathy, S. Radhika

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In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self-scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self-scheduling to ensure profit for the plant.

Keywords: ancillary services, BPSO, power system economics, self-scheduling, sliding window technique

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Authors: Yoonjung An, Yongtae Park

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Offering a Product-Service System (PSS) is a well-accepted strategy that companies may adopt to provide a set of systemic solutions to customers. PSSs were initially provided in a simple form but now take diversified and complex forms involving multiple services, products and technologies. With the growing interest in the PSS, frameworks for the PSS development have been introduced by many researchers. However, most of the existing frameworks fail to examine various relations existing in a complex PSS. Since designing a complex PSS involves full integration of multiple products and services, it is essential to identify not only product-service relations but also product-product/ service-service relations. It is also equally important to specify how they are related for better understanding of the system. Moreover, as customers tend to view their purchase from a more holistic perspective, a PSS should be developed based on the whole system’s requirements, rather than focusing only on the product requirements or service requirements. Thus, we propose a framework to develop a complex PSS that is coordinated fully with the requirements of both worlds. Specifically, our approach adopts a multi-domain matrix (MDM). A MDM identifies not only inter-domain relations but also intra-domain relations so that it helps to design a PSS that includes highly desired and closely related core functions/ features. Also, various dependency types and rating schemes proposed in our approach would help the integration process.

Keywords: inter-domain relations, intra-domain relations, multi-domain matrix, product-service system design

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Authors: Marwa Sahnoun, Chokri Abdennadher

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This article comes, very timely, to look at the effectiveness of active labor market policies (ALMP) in improving labor market outcomes. Using panel data estimates for 19 European countries during the period 2000-2012, this article showed the role of institutional factors, especially the role of employment policies implementation based on three variables: the allocation of resources for the implementation of policies, continuity and timing in the implementation of policies to capture their effectiveness on the labor market. Empirical results shows favor effect of training, employment incentives, sheltered employment and rehabilitation and direct job creation on the entire population employment growth. Results shows also that start-up incentives seems to be more effective in increasing employment than other types of policies. Importantly, two aspects are important in terms of implementation: public expenditure on program administration, e.g. (PES) watches the most favorable aspect and the continuity of policies implemented.

Keywords: active labor market policies, implementation, public expenditure on program administration, start-up incentives, training

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Authors: Hemalatha Jain, M. Vasantha

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Patteda Anchu is one of the first variety of sari woven centuries ago in Gajendragarh village from Gadag district of north Karnataka. The sari played a significant role in bringing together the socio-cultural aspect in ancient days. It was used as wedding sari for bride and also to adorn goddess Yellamma Saundatti by the devotees. Indian traditional art and crafts were rich in culture and diversity, however with the onset of liberalisation and end of the license raj lot of traditional Indian artwork are on the verge of extinction today. Patteda Anchu is one of the examples of traditional art lost to globalisation. The main aim of the study was to document the ancient weaving tradition of the Patteda Anchu and revive by exploring the weaving possibility as yardage with different product layout. To accomplish the formulated objectives a exploratory cum diagnostic study was planned. Data was collected through observations and interviews schedule during the field visits in Gajendragarh village. There are very few weavers weaving on traditional looms and many weavers who have moved to weaving other sari's or construction work were interviewed to understand the downfall of the sari. The discussions and interviews conducted with the local weavers, shop keepers, sales agents, weaving society, NGOs and Self help groups helped in unearthing the new opportunities to develop products for the local and national market and help start weaving of Patteda Anchu and expand its market. The handloom art details in terms of raw materials, loom set up, dyeing, types of Patteda Anchu, weaving process and colors were documented through photographs, video recordings and supplemented with notes. Based on the analysis of the feedback gathered it was recommended to develop products on the handloom without changing the width frame or design of the traditional weaving methods. The weavers, weavers society and other cooperatives centres also were in consent with the new product development which will help sustain the Patteda Anchu.

Keywords: Gajendragarh, patteda Anchu sari, revival of traditional art, weaving, handloom

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Authors: Maia Kipiani, Tamari Beridze, Natalia Tchanturia, Bella Goderdzishvili, Sophio Beridze, Natia Kuparadze

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Europe has concrete examples how small nations can survive and maintain their identity in its area. Values are eternal guides of our life and source of its perfection. European values are universal and relevant for every epoch, society or state. Values, such as personal freedom, human dignity, sovereignty of law, national or cultural identity are universal and eternal. Even superficial review of history of Georgian culture clearly shows that western values, including fundamental human rights. This paper discusses the approach and findings of choice of values in Georgia. Georgia is still quite far away from perfectly established values. Georgia has walked the hardest road till XXI century. Country survived miraculously many times. The study shows that the only way to survive is to strengthen national, traditional values and should not forget global factors. It is clear that for achievement of goals is important European education, legislative and economic reforms, peacefully and democratically develop Georgia.

Keywords: democracy, economical reforms, European values, human dignity, science, society, sovereignty of law, well-being

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Authors: Irem Ela Yildizeli

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Advertising today has become an indispensable phenomenon both for businesses and consumers. Due to the conditions of rapid changes in the market and growth of competitiveness, the success of many of firms that produce similar merchandise depends largely on how professionally and effective they use marketing communication elements which also must have some sense of shared values between the message provider and the receiver within cultural and global trend. This paper demonstrates how consumer behaviour and communication through cultural values evaluate advertising styles. Using samples of award-winning ads from both author's and other professional's creative works, the study reveals a significant correlation between the cultural elements and advertisement reception for language and cultural norms respectively. The findings of this study draw attention to the change of communication in the beginning of the 21st century which has shaped a new style of Participatory and Experience Design in advertising.

Keywords: advertising, advertising style, culture, experience design, participatory design

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Authors: Nicolas Haber

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The study addresses the conceptual design of Product-Service Systems (PSSs) as a means of innovating solutions with the aim of reducing the environmental load of conventional product based solutions. Functional approaches targeting PSS solutions are developed in instinctive methods within the constraints of the setting in which they are conceived. Adopting morphological matrices in designing PSS concepts allows a thorough understanding of the settings, stakeholders, and functional requirements. Additionally, such a methodology is robust and adaptable to product-oriented, use-oriented and result-oriented systems. The research is based on a functional decomposition of the task in a similar way as in product design; while extended to include service components, providers, and receivers, while assessing the adaptability and homogeneity of the selected components and actors. A use-oriented concept is presented via a practical case study at an agricultural boom-sprayer manufacturer to demonstrate the effectiveness of the morphological approach to justify its viability. Additionally, a life cycle analysis is carried out in order to evaluate the environmental advantages inherited in a PSS solution versus a conventional solution. In light of the applications presented, the morphological approach appears to be a valid and generic tactic to conceiving integrated solutions whilst capturing the interrelations between the actors and elements of an integrated product-service system.

Keywords: conceptual design, design for sustainability, functional decomposition, product-service systems

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Authors: Linda Kauškale, Ineta Geipele

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Due to the rapidly changing external environment, portfolio management strategies became closely interconnected with real estate industry development and macroeconomic development tendencies. The aim of the research is to analyze sustainable real estate market development influencing factors, with particular focus on its economic and management aspects that influences real estate investment decisions as well. Scientific literature and article analysis, data analysis, expert evaluation, and other quantitative and qualitative research methods were used in the research. Developed real estate market sustainability model and index analysis approach can be applied by investors and real estate companies in real estate asset management and can help in risk minimization activities in international entrepreneurship. Future research directions have been identified in the research as well.

Keywords: indexes, investment decisions, real estate market, sustainability

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Authors: Zhaohan Xie, Yining Yu, Mingliang Chen

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As research has shown a convergent tendency for aversion to AI recommendation, it is imperative to find a way to promote AI usage and better harness the technology. In the context of e-commerce, this study has found evidence that people show less avoidance of algorithms when recommending search products compared to experience products. This is due to people’s different attribution of mind to AI versus humans, as suggested by mind perception theory. While people hold the belief that an algorithm owns sufficient capability to think and calculate, which makes it competent to evaluate search product attributes that can be obtained before actual use, they doubt its capability to sense and feel, which is essential for evaluating experience product attributes that must be assessed after experience in person. The result of the behavioral investigation (Study 1, N=112) validated that consumers show low purchase intention to experience products recommended by AI. Further consumer neuroscience study (Study 2, N=26) using Event-related potential (ERP) showed that consumers have a higher level of cognitive conflict when faced with AI recommended experience product as reflected by larger N2 component, while the effect disappears for search product. This research has implications for the effective employment of AI recommenders, and it extends the literature on e-commerce and marketing communication.

Keywords: algorithm recommendation, consumer behavior, e-commerce, event-related potential, experience product, search product

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Authors: Tariq Aziz, Suresh Kumar, Vikesh Kumar, Sheraz Mustafa, Jhanzeb Marwat

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The paper provides an updated version of volatility spillover among the equity markets of South Asian countries, including Pakistan, India, Srilanka, and Bangladesh. The analysis uses both symmetric and asymmetric Generalized Autoregressive Conditional Heteroscedasticity models to investigate volatility persistence and leverage effect. The bivariate EGARCH model is used to test for volatility transmission between two equity markets. Weekly data for the period February 2013 to August 2019 is used for empirical analysis. The findings indicate that the leverage effect exists in the equity markets of all the countries except Bangladesh. The volatility spillover from the equity market of Bangladesh to all other countries is negative and significant whereas the volatility of the equity market of Sri-Lanka does influence the volatility of any other country’s equity market. Indian equity market influence only the volatility of the Sri-Lankan equity market; and there is bidirectional volatility spillover between the equity markets of Pakistan and Bangladesh. The findings are important for policy-makers and international investors.

Keywords: volatility spillover, volatility persistence, garch, egarch

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Authors: Ioannis P. Panapakidis, Marios N. Moschakis

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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: deregulated energy market, forecasting, machine learning, system marginal price

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Authors: Ben Nwokenkwo, Michael M. Eze, Felix Ike

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The need to study trends in land values around institutions of higher learning cannot be overemphasized. Numerous studies in Nigeria have investigated the economic, and social influence of the sitting of institutions of higher learning at the micro, meso and macro levels. However, very few studies have evaluated the temporal extent at which such institution influences local land values. Since institutions greatly influence both the physical and environmental aspects of their immediate vicinity, attention must be taken to understand the influence of such changes on land values. This study examines the trend in land values using the Mann-Kendall analysis in order to determine if, between its beginning and end, a monotonic increase, decrease or stability exist in the land values across six institutions of higher learning for the period between 2004 and 2014. Specifically, The analysis was applied to the time series of the price(or value) of the land .The results of this study revealed that land values has either been increasing or remained stabled across all the institution sampled. The study finally recommends measures that can be put in place as counter magnets for land values estimation across institutions of higher learning.

Keywords: influence, land, trend, value

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Authors: Pei-Jun Xue, Ming-Yu Hsiao

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Language is the emblem of a culture, representing the extension of cultural life. In addition, it is also an important tool for communication and message transmission. It carries not only information but also covers the self-conscious of the information constructor as well as the situational experiences of users from different backgrounds. Moreover, design can be regarded as a language, a dynamic process of coding and decoding. With the designers’ experiences in everyday life, they bring them into the products’ experiences. Considered from the aspects of atmosphere and the five senses, a designer should consider and reconsider how to communicate the messages effectively to suit the users’ needs. In the process of language learning, we should understand the construction behind it and the rules of the compositions of language codes. Regarding the understanding of the design of works or the form of product construction, it is necessary for us to understand the coding system during the process of product construction. The form (signifiers) and meanings (signified) of Chinese characters are closely related. At the same time, it is also a process of simplifying the complicated to the simple. This study discusses the chinese characters that used in the cultural symbols construction, and analysis of existing products by Peirce's semiotic triangles. Through people's cognition of Chinese characters and constitute method, help to understand the way of construction product symbol.

Keywords: cultural-creative product design, cultural product, cultural symbols, linguistic symbols

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Authors: Aqsa Akbar, Sadaf Ehsan, Suheera Khalid Sheikh

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Purpose: In the today’s competitive world, situational dynamism presents complex challenges for organizations to pursue production innovation. Calling for dire need to remain sustainable, the research aims to examine the interlinking mechanism of knowledge sharing and product innovation relationship. For this, a moderated mediation framework is developed in which employees’ creativity and top management support are suggested as viable factors affecting the knowledge sharing and product innovation relationship. Design/Methodology/Approaches A survey-based quantitative research design is selected for data collection via self-administered questionnaires from employees of Pakistan’s E-commerce organizations. Almost, 350 questionnaires were circulated and 285 were received back through a cross-sectional method. Data analysis is performed on SPSS 22.0 and AMOS. Finding The outcomes suggest that knowledge sharing is critical for companies undergoing product innovation. In addition, findings disclose that employees’ creativity partially mediates the relationship between knowledge sharing and product innovation. Furthermore, the moderation impact of top management support also substantiated the proposed hypothesis. Results are discussed in the light of the literature review, followed by the study’s limitations and future directions. Originality/Value The study donates significance towards the development of better understanding of how knowledge sharing is vital for product innovation. It adds on to the literature by highlighting mechanisms responsible for successful product innovation. Moreover, the study offers practical insights to Pakistan’s E-commerce industry and suggests about how to develop capabilities for product innovation.

Keywords: employees creativity, knowledge sharing, product innovation, top management support

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Authors: Weixing Tan

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Production of nutraceuticals from microalgae—a virtually untapped natural phyto-based source of which there are 200,000 to 1,000,000 species—offers a sustainable and healthy alternative to conventionally sourced nutraceuticals for the market. Microalgae can be grown organically using only natural sunlight, water and nutrients at an extremely fast rate, e.g. 10-100 times more efficiently than crops or trees. However, the commercial success of microalgae products at scale remains limited largely due to the lack of economically viable technologies. There are two major microalgae production systems or technologies currently available: 1) the open system as represented by open pond technology and 2) the closed system such as photobioreactors (PBR). Each carries its own unique features and challenges. Although an open system requires a lower initial capital investment relative to a PBR, it conveys many unavoidable drawbacks; for example, much lower productivity, difficulty in contamination control/cleaning, inconsistent product quality, inconvenience in automation, restriction in location selection, and unsuitability for cold areas – all directly linked to the system openness and flat underground design. On the other hand, a PBR system has characteristics almost entirely opposite to the open system, such as higher initial capital investment, better productivity, better contamination and environmental control, wider suitability in different climates, ease in automation, higher and consistent product quality, higher energy demand (particularly if using artificial lights), and variable operational expenses if not automated. Although closed systems like PBRs are not highly competitive yet in current nutraceutical supply market, technological advances can be made, in particular for the PBR technology, to narrow the gap significantly. One example is a readily scalable P2P Microalgae PBR Technology at Grande Prairie Regional College, Canada, developed over 11 years considering return on investment (ROI) for key production processes. The P2P PBR system is approaching economic viability at a pre-commercial stage due to five ROI-integrated major components. They include: (1) optimum use of free sunlight through attenuation (patented); (2) simple, economical, and chemical-free harvesting (patent ready to file); (3) optimum pH- and nutrient-balanced culture medium (published), (4) reliable water and nutrient recycling system (trade secret); and (5) low-cost automated system design (trade secret). These innovations have allowed P2P Microalgae Technology to increase daily yield to 106 g/m2/day of Chlorella vulgaris, which contains 50% proteins and 2-3% omega-3. Based on the current market prices and scale-up factors, this P2P PBR system presents as a promising microalgae technology for market competitive nutraceutical supply.

Keywords: microalgae technology, nutraceuticals, open pond, photobioreactor PBR, return on investment ROI, technological advances

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Authors: Reinhard Neck, Guido Schäfer

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In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependence and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse side-effects on any macroeconomic target variable.

Keywords: macroeconomics, European Union, simulation, sensitivity analysis

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Authors: Sotiris Papantonopoulos, Marianna Bortziou

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This study aimed at developing a new package of saffron using emotional design and specifically the Kansei Engineering method. Kansei Engineering is a proactive product development methodology, which aims to improve the product development process and to translate consumers' feelings and image of a product into design elements. A survey was conducted with two major purposes: (1) to determine the target group of saffron use and to collect information about the adequacy of the product’s promotion and the importance of its packaging, (2) to collect the most important properties of a package according to consumers and to evaluate the existing saffron packages according to these properties (benchmarking). The interaction with the general public conducted by the distribution of online questionnaires and personal interviews as well as the statistical analysis of the results were performed using the SPSS software. The results of the survey were used in all stages of Kansei Engineering. Based on the results, a new saffron package was designed by using various designing and image processing software. This improved package is expected to achieve a better promotion and increased sales of the product.

Keywords: design, emotional design, Kansei Engineering, packaging, saffron

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Authors: Olakunle Moses Makanjuola, Adebola Ajayi

Abstract:

Noodles are made from unleavened dough, rolled flat and cut into shapes. The instant noodle market is growing fast in Asian countries and is gaining popularity in the western market. This project reports on the proximate functional and sensory evaluation of different brands of instant noodles in Nigeria. The comparisons were based on proximate functional and sensory evaluation of the product. The result obtained from the proximate analysis showed that sample QHR has the highest moisture content, sample BMG has the highest protein content, sample CPO has the highest fat content, sample. The obtained result from the functional properties showed that sample BMG (Dangote noodles) had the highest volume increase after cooking due to its high swelling capacity, high water absorption capacity and high hydration capacity. Sample sensory analysis of the noodles showed that all the samples are of significant difference (at P < 0.05) in terms of colour, texture, and aroma but there is no significant difference in terms of taste and overall acceptability. Sample QHR (Indomie noodles) is the most preferred by the panelists.

Keywords: proximate, functional, sensory evaluation, noodles

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Authors: N. Mahmoudnia, M. Khormali

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This experiment was conducted to determine the apparent protein digestibility of poultry by- product meal (PBPM) from two industrial poultry slaughter houses on Ross 308 male broiler chickens in independed comparisons. The experiment consisted of seven dietary treatments and three replicates per treatment with three broiler chickens per replicate in a completely randomized design. Dietary treatments consisted of a control corn- soybean diet, and levels 3, 6 and 9% PBPM produced by slaughter house 1 and levels 3, 6 and 9% PBPM produced by slaughter house 2. Chromic oxide was added to the experimental diets as indigestible marker. The apparent protein digestibility of each diet were determined with two methods of sample collection of ileum and excreta in 21-28 d of age. The results this experiment showed that use of PBPM had no significantly effect on performance of broiler chicks during period of experiments. The apparent protein digestibility of PBPM groups was significantly higher than control group by excreta sampling procedure (P<0.05). Using of PBPM 2 significantly (P<0.05) decreased the apparent protein digestibility values based on ileum sampling procedure vs control ( 85.21 vs 90.14).Based results of this experiment,it is possible to use of PBPM 1 in broiler chicken.

Keywords: poultry by-product meal, apparent protein digestibility, independed comparison, broiler chicken

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Authors: Yusri Yusof, Chen Wong Keong

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This paper presents the implementation details of a Relational Database Management System of a STEP-technology product model repository. It is able support the implementation of any EXPRESS language schema, although it has been primarily implemented to support mechanical product life cycle applications. This database support the input of STEP part 21 file format from CAD in geometrical and topological data format and support a range of queries for mechanical product life cycle applications. This proposed relational database management system uses entity-to-table method (R1) rather than type-to-table method (R4). The two mapping methods have their own strengths and drawbacks.

Keywords: RDBMS, CAD, ISO 10303, part-21 file

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Authors: Mo-Se Lee, Cheol-Hwi Ahn, Kee-Young Kwahk, Hyunchul Ahn

Abstract:

Over the past decade, deep learning has been in spotlight among various machine learning algorithms. In particular, CNN (Convolutional Neural Network), which is known as effective solution for recognizing and classifying images, has been popularly applied to classification and prediction problems in various fields. In this study, we try to apply CNN to stock market prediction, one of the most challenging tasks in the machine learning research. In specific, we propose to apply CNN as the binary classifier that predicts stock market direction (up or down) by using a graph as its input. That is, our proposal is to build a machine learning algorithm that mimics a person who looks at the graph and predicts whether the trend will go up or down. Our proposed model consists of four steps. In the first step, it divides the dataset into 5 days, 10 days, 15 days, and 20 days. And then, it creates graphs for each interval in step 2. In the next step, CNN classifiers are trained using the graphs generated in the previous step. In step 4, it optimizes the hyper parameters of the trained model by using the validation dataset. To validate our model, we will apply it to the prediction of KOSPI200 for 1,986 days in eight years (from 2009 to 2016). The experimental dataset will include 14 technical indicators such as CCI, Momentum, ROC and daily closing price of KOSPI200 of Korean stock market.

Keywords: convolutional neural network, deep learning, Korean stock market, stock market prediction

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Authors: Zilin Zhang

Abstract:

Agent-based simulation has become a popular method of exploring the behavior of all kinds of urban systems. The city clearly is viewed as such a system. Many urban evolution processes, such as the development or the transaction of a piece of land, can be modeled with a set of rules. Such modeling approaches can be used to gain insight into urban-development and land market transactions in the real world. Our work contributes to such type of research by modeling the transactions of lands in a city and its surrounding suburbs. By replicating the demand and supply needs in the land market, we are able to demonstrate the different transaction patterns in three types of residential areas - downtown, city-suburban, and further suburban areas. In addition, we are also able to compare the vital roles of different activation conditions play in generating the various transaction patterns of the land market at the macro level. We use this simulation to loosely test our hypotheses about the nature of activation regimes by the replication of the Zi traders’ model. In the end, we hope our analytical results can be useful for city planners and policymakers to develop rational city plans and policies for shaping sustainable urban development.

Keywords: simulation, agent-based modeling, housing market, city

Procedia PDF Downloads 66