Search results for: Amman Stock Exchange

Authors: Wilaiwan Sornpoon, Sébastien Bonnet, Savitri Garivait

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Open burning of sugarcane fields is recognized to have a negative impact on soil by degrading its properties, especially soil organic carbon (SOC) content. Better understating the effect of open burning on soil carbon dynamics is crucial for documenting the carbon sequestration capacity of agricultural soils. In this study, experiments to investigate soil carbon stocks under burned and unburned sugarcane plantation systems in Thailand were conducted. The results showed that cultivation fields without open burning during 5 consecutive years enabled to increase the SOC content at a rate of 1.37 Mg ha-1y-1. Also it was found that sugarcane fields burning led to about 15% reduction of the total carbon stock in the 0-30 cm soil layer. The overall increase in SOC under unburned practice is mainly due to the large input of organic material through the use of sugarcane residues.

Keywords: soil organic carbon, soil inorganic carbon, carbon sequestration, open burning, sugarcane

Procedia PDF Downloads 280

Authors: Anocha Rojanapanich

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This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is used for analyzing the data. Results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. And market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship and the contribution of accounting information reports on corporate credibility is generated to the corporate image. That is the corporate image has affected by corporate credibility.

Keywords: corporate credibility, financial and non-financial reports, firms performance, corporate image

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Authors: M. G. Mattos, J. E. Pécora Jr, T. A. Briso

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Today's challenging business environment, with unpredictable demand and volatility, requires a supply chain strategy that handles uncertainty and risks in the right way. Even though inventory models have been previously explored, this paper seeks to apply these concepts on a practical situation. This study involves the inventory replenishment problem, applying techniques that are mainly based on mathematical assumptions and modeling. The primary goal is to improve the retailer’s supply chain processes taking store differences when setting the various target stock levels. Through inventory review policy, picking piece implementation and minimum exposure definition, we were able not only to promote the inventory reduction as well as improve sales results. The inventory management theory from literature review was then tested on a single case study regarding a particular department in one of the largest Latam retail chains.

Keywords: inventory, distribution, retail, risk, safety stock, sales, uncertainty

Procedia PDF Downloads 247

Authors: Uwalomwa Uwuigbe, Olubukola Ranti Uwuigbe, Jinadu Olugbenga, Otekunrin Adegbola

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Corporate reporting has evolved over the years resulting from criticisms of the precedent by shareholders, stakeholders and other relevant financial institutions. Integrated reporting has become a globalized corporate reporting style, with its adoption around the world occurring rapidly to bring about an improvement in the quality of corporate reporting. While some countries have swiftly clinched into reporting in an integrated manner, others have not. In addition, there are ample research that has been conducted on the benefits of adopting integrated reporting, however, the same is not true in developing economies like Nigeria. Hence, this study basically examined the factors determining the adoption of integrated reporting in Nigeria. One hundred (100) copies of questionnaire was administered to financial managers of 20 selected listed companies in the Nigeria stock exchange market. The data obtained was analysed using the Spearman Rank Order Correlation via the Statistical Package for Social Science. This study observed that there is a significant relationship between the social pressures of isomorphic changes and integrated reporting adoption in Nigeria. The study recommends the need for an enforcement mechanism to be put in place while considering the adoption of integrated reporting in Nigeria, enforcement mechanisms should put into consideration the investors demand, the level of economic development, and the degree of corporate social responsibility.

Keywords: corporate social responsibility, isomorphic, integrated reporting, Nigeria, sustainability

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Authors: Shashikant R. Kuchekar, Haribhau R. Aher, Priti M. Dhage

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The removal vanadium from aqueous solution using natural exchanger was investigated. The effects of pH, contact time and exchanger dose were studied at ambient temperature (25 ⁰C ± 2 ⁰C). The equilibrium process was described by the Langmuir isotherm model with adsorption capacity for vanadium. The natural exchanger i.e. tamarindus seeds powder was treated with formaldehyde and sulpuric acid to increase the adsorptivity of metals. The maximum exchange level was attained as 80.1% at pH 3 with exchanger dose 5 g and contact time 60 min. Method is applied for removal of vanadium from industrial effluents.

Keywords: industrial effluent, natural ion exchange, Tamarindous indica, vanadium

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Authors: Yingjeng James Li, Chih Chi Hsu, Chiao-Chih Hu

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Membrane electrode assemblies MEAs for proton exchange membrane PEM water electrolyzers were prepared by employing 175um perfluorosulfonic acid PFSA membranes as the PEM, onto which iridium oxide catalyst was coated on one side as the anode and platinum catalyst was coated on the other side as the cathode. The cathode catalyst ink was prepared so that the weight ratio of the catalyst powder to ionomer was 75:25, 70:30, 65:35, 60:40, and 55:45, respectively. Whereas, the ratio of catalyst powder to ionomer of the anode catalyst ink keeps constant at 50:50. All the MEAs have a catalyst coated area of 5cm*5cm. The test cell employs a platinum plated titanium grid as anode gas diffusion media; whereas, carbon paper was employed as the cathode gas diffusion media. The measurements of the MEA gases production rate were carried out by holding the cell voltage ranging from 1.6 to 2.8 volts at room temperature. It was found that the MEA with cathode catalyst to ionomer ratio of 65:35 gives the largest hydrogen production rate which is 2.8mL/cm2*min.

Keywords: electrolyzer, membrane electrode assembly, proton exchange membrane, ionomer, hydrogen

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Authors: Jamil Khalil Izraqi

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This paper investigates the transition of a 1970 Volkswagen Beetle from an internal combustion engine (ICE) to an EV using Matlab/Simulink modeling and simulation. The performance of the EV drivetrain system was simulated under various operating conditions, including standard and custom driving cycles in Turkey and Jordan (Amman), respectively. The results of this paper indicate that the transition is viable and that modeling and simulation can help in understanding the performance and efficiency of the electric drivetrain system, including battery pack, power electronics, and brushless direct current (BLDC) Motor.

Keywords: BLDC, buck-boost, inverter, SOC, drive-cycle

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Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Aslı Taş, Şebnem Ertaş

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Culture consists of material and spiritual values adopted by the emerging societies during the historical and social processes and continues to exist from past to present by being transferred through generations. Culture and cultural sustainability are interdependent concepts. Cultural sustainability exists when the requirements established cultural expression are added to the social life as lifestyle and habits. However, sustainability renders change inevitable. Changes that take place in the culture of a society also shows the impact in the daily life places. Functional changes occur in the spaces in order to adapt particularly to cultural change that appear in the aftermath of the user change, to modern technology and living standards. In this context, in this study, it was aimed to investigate the effect of the time-dependent functional changes that took place in the housing where non-Muslim population who was subject to population exchange and Muslim population lived after the population exchange in the vacated housing in Sille. Therefore, the changed and newly added venues in the house belonging to Ali Oğuz in Hacı Ali Ağa Street were investigated over the generated graphic in order to clearly perceive the cultural exchange on the housing and settlement and the functional changes were demonstrated.

Keywords: culture, house, spatial changes, sustainability

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Authors: Maria A. Murtiati, Ancella A. Hermawan

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The objective of this study is to examine whether the firm’s eligibility to get a bank loan is influenced by earnings management. The earnings management is distinguished between accruals and real earnings management. Hypothesis testing is carried out with logistic regression model using sample of 285 companies listed at Indonesian Stock Exchange in 2010. The result provides evidence that a greater magnitude in accruals earnings management increases the firm’s probability to be eligible to get bank loan. In contrast, real earnings management through abnormal cash flow and abnormal discretionary expenses decrease firm’s probability to be eligible to get bank loan, while real management through abnormal production cost increases such probability. The result of this study suggests that if the earnings management is assumed to be opportunistic purpose, the accruals based earnings management can distort the banks credit analysis using financial statements. Real earnings management has more impact on the cash flows, and banks are very concerned on the firm’s cash flow ability. Therefore, this study indicates that banks are more able to detect real earnings management, except abnormal production cost in real earning management.

Keywords: discretionary accruals, real earning management, bank loan, credit worthiness

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Authors: Mohammed Nishat, Ahmad Ghazali

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This study empirically inspects the corporate governance and firm performance, and attempts to analyze the corporate governance and control related variables which are hypothesized to have effect on firm’s performance. Current study attempts to assess the mechanism and efficiency of corporate governance to achieve high level performance for the listed firms on the Karachi Stock Exchange (KSE) for the period 2005 to 2008. To evaluate the firm performance level this study investigate the firm performance using three measures; Return on assets (ROA), Return on Equity (ROE) and Tobin’s Q. To check the link between firm performances with the corporate governance three categories of corporate governance variables are tested which includes governance, ownership and control related variables. Fixed effect regression model is used to examine the relation among governance and corporate performance for 267 KSE listed Pakistani firms. The result shows that governance related variables like block shareholding by individuals have positive impact on firm performance. When chief executive officer is also the board chairperson then it is observed that performance of firm is adversely affected. Also negative relationship is found between share held by insiders and performance of firm. Leverage has negative influence on the firm performance and size of firm is positively related with performance of the firm.

Keywords: corporate governance, agency cost, KSE, ROA, Tobin’s Q

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Authors: V. Pérez-Herranz, M. Pinel, E. M. Ortega, M. García-Gabaldón

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In the present work, Electrochemical Impedance Spectrocopy (EIS) is applied to study the transport of different metal cations through a cation-exchange membrane. This technique enables the identification of the ionic-transport characteristics and to distinguish between different transport mechanisms occurring at different current density ranges. The impedance spectra are dependent on the applied dc current density, on the type of cation and on the concentration. When the applied dc current density increases, the diameter of the impedance spectra loops increases because all the components of membrane system resistance increase. The diameter of the impedance plots decreases in the order of Na(I), Ni(II) and Cr(III) due to the increased interactions between the negatively charged sulfonic groups of the membrane and the cations with greater charge. Nyquist plots are shifted towards lower values of the real impedance, and its diameter decreases with the increase of concentration due to the decrease of the solution resistance.

Keywords: ion-exchange membranes, Electrochemical Impedance Spectrocopy, multivalent metal cations, membrane system

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Authors: I-En Lin, Feng-Jung Yang

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In addition to kidney transplant, renal replacement therapy involves hemodialysis and peritoneal dialysis (PD). PD possesses advantages such as maintaining stable physiological blood status and blood pressure, alleviating anemia, and improving mobility, which make it an ideal method for at-home dialysis treatment. However, potential danger still exists despite the numerous advantages of PD, particularly when patients require dialysis exchange four to five times a day, during which improper operation can easily lead to peritonitis. The process of draining and filling is called an exchange and takes about 30 to 40 minutes. Connecting the transfer set requires sterile technique. Transfer set may require a new cap each time that it disconnects from the bag after an exchange. There are many chances to get infection due to unsafe behavior (ex: hand tremor, poor eyesight and weakness, cap fall-down). The proposed semi-automatic connection mechanism used in the PD can greatly reduce infection chances. This light-weight connection device is portable. The device also does not require using throughout the entire process. It is capable of significantly improving quality of life. Therefore, it is very promising to adopt in home care application.

Keywords: automatic connection, catheter, glomerulonephritis, peritoneal dialysis

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Authors: Sonja Goegele, Petra Kletzenbauer

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The FH JOANNEUM- a university of applied sciences based in Austria - cooperates in teaching and research with well-known international universities and thus aims to foster so-called strategic partnerships. The exchange of university lecturers and other faculty members is a way to achieve and secure strategic company goals, in which excellent research and teaching play a central role in order to improve both the development of academics and administration. Thanks to mobility not only the university but also the involved people truly benefit in their professional development which can be seen on several levels: increased foreign language proficiency, excellent networking possibilities within the scientific community as well as reinforced didactic competencies in the form of different teaching and learning methodologies. The paper discusses mobility in the light of the university’s strategic paper entitled ‘Hands on 2022’ by presenting results from an empirical research study among faculty members who participate in exchange programmes on a regular basis. In the form of an online questionnaire, mobility was discussed from different angles such as networking, collaborative research, professional training for academics and the overall impact of the exchange within and outside the organization. From the findings, it can be concluded that mobility is an asset for any university. However, keeping in constant dialogue with partner universities requires more than the purpose of the exchange itself. Building rapport and keeping a relationship of trust are challenges that need to be addressed more closely in order to run successful mobility programmes. Best Practice examples should highlight the importance of mobility as a vital initiative to transfer disciplines.

Keywords: higher education, internationalization, mobility, strategic partnerships

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Authors: Abdellahi Cheikh

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With the emergence of quantum computers with very powerful capabilities, the security of the exchange of shared keys between two interlocutors poses a big problem in terms of the rapid development of technologies such as computing power and computing speed. Therefore, the Diffie-Hellmann (DH) algorithm is more vulnerable than ever. No mechanism guarantees the security of the key exchange, so if an intermediary manages to intercept it, it is easy to intercept. In this regard, several studies have been conducted to improve the security of key exchange between two interlocutors, which has led to interesting results. The modification made on our model Diffie-Hellman-RSA-AES (DRA), which encrypts the information exchanged between two users using the three-encryption algorithms DH, RSA and AES, by using stenographic photos to hide the contents of the p, g and ClesAES values that are sent in an unencrypted state at the level of DRA model to calculate each user's public key. This work includes a comparative study between the DRA model and all existing solutions, as well as the modification made to this model, with an emphasis on the aspect of reliability in terms of security. This study presents a simulation to demonstrate the effectiveness of the modification made to the DRA model. The obtained results show that our model has a security advantage over the existing solution, so we made these changes to reinforce the security of the DRA model.

Keywords: Diffie-Hellmann, DRA, RSA, advanced encryption standard

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Authors: Y. Yang, Dian Ming Xing, Qiu Hua Du

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Based on the Motorized Momentum Exchange Tether (MMET), with the principle of momentum exchange, the three dimension flexible dynamics of continuous cislunar payloads transferring system (CCPTS) is built by Lagrange method and its numerical solution is solved by Mathematica software. In the derivation precession of potential energy, this paper uses the Tylor expansion method to simplify the Lagrange equation. Furthermore, the tension coming from the centripetal load is considered in the elastic potential energy. The comparison simulation results between the 3D rigid model and 3D flexible model of CCPTS shows that the tether flexibility has important influence on CCPTS’s orbital parameters (such as radius of CCPTS’s COM and the true anomaly) and the tether’s rotational movement, the relative deviation of radius and the true anomaly between the two dynamic models is about 0.00678% and 0.00259%, the relative deviation of the angle of tether-span and local gravity gradient is about 3.55%. Additionally, the external torque has an apparent influence on the tether’s axial vibration.

Keywords: cislunar transfer, dynamics, momentum exchange, tether

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Authors: N. Ahmadi, H. Yousefnia, A. Bahrami-Samani

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Chitosan is a natural and biodegradable polysaccharide with special characteristic for application in intracavital therapy. 166Ho-chitosan has been reported for the treatment of hepatocellular carcinoma and RSV with promising results. The aim of this study was to prepare 186/188Re-chitosan for radiosynovectomy purposes and investigate the probability of its leakage from the knee joint. 186/188Re was produced by neutron irradiation of the natural rhenium in a research reactor. Chemical processing was performed to obtain (186/188Re)-NaReO4- according to the IAEA manual. A stock solution of chitosan was prepared by dissolving in 1 % acetic acid aqueous solution (10 mg/mL). 1.5 mL of this stock solution was added to the vial containing the activity and the mixture was stirred for 5 min in the room temperature. The radiochemical purity of the complex was checked by the ITLC method, showing the purity of higher than 98%. Distribution of the radiolabeled complex was determined after intra-articular injection into the knees of rats. Excellent retention was observed in the joint with approximately no activity in the other organs.

Keywords: chitosan, leakage, radiosynovectomy, rhenium

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Authors: Traore Papa Touty

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This article presents a numerical method for determining the thermal conductivity of local materials, kapok plaster and tow plaster. It consists of heating the front face of a wall made from these two materials and at the same time insulating its rear face. We simultaneously study the curves of the evolution of the heat flux density as a function of time on the rear face and the evolution of the temperature gradient as a function of time between the heated face and the insulated face. Thermal conductivity is obtained when reaching a steady state when the evolution of the heat flux density and the temperature gradient no longer depend on time. The results showed that the theoretical value of thermal conductivity is obtained when the material has reached its equilibrium state. And the values obtained for different values of the convective exchange coefficients are appreciably equal to the experimental value.

Keywords: thermal conductivity, numerical method, heat exchange coefficient, transitional regime

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Authors: Akeel Noori Almulla Hwaish

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Architectural design is influenced by the actual thermal behaviour of building components, and this in turn depends not only on their steady and periodic thermal characteristics, but also on exposure effects, orientation, surface colour, and climatic fluctuations at the given location. Design data and environmental parameters should be produced in an accurate way for specified locations, so that architects and engineers can confidently apply them in their design calculations that enable precise evaluation of the influence of various parameters relating to each component of the envelope, which indicates overall thermal performance of building. The present paper will be carried out with an objective of thermal behaviour assessment and characteristics of the opaque and transparent parts of one of the very unique components used as a symbolic distinguished element of building envelope, its thermal behaviour under the impact of solar temperatures, and its role in heat exchange related to a specific U-value of specified construction materials alternatives. The research method will consider the specified Hot-Dry weather and new mosque in Baghdad, Iraq as a case study. Also, data will be presented in light of the criteria of indoor thermal comfort in terms of design parameters and thermal assessment for a“model dome”. Design alternatives and considerations of energy conservation, will be discussed as well using comparative computer simulations. Findings will be incorporated to outline the conclusions clarifying the important role of the dome in heat exchange of the whole building envelope for approaching an indoor thermal comfort level and further research in the future.

Keywords: building envelope, sustainable design, dome impact, hot-climates, heat exchange

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Authors: Suzi M. S. Cavalari, Tim Lewis

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Teletandem is a bilingual model of virtual exchange in which two partners from different countries( and speak different languages) meet synchronously and regularly over a period of 8 weeks to learn each other’s mother tongue (or the language of proficiency). At São Paulo State University (UNESP), participants should answer a questionnaire before starting the exchanges in which one of the questions refers to setting a goal to be accomplished with the help of the teletandem partner. In this context, the present presentation aims to examine the goal-setting activity of 79 Brazilians who participated in Portuguese-English teletandem exchanges over a period of four years (2012-2015). The theoretical background is based on goal setting and self-regulated learning theories that propose that appropriate efficient goals are focused on the learning process (not on the product) and are specific, proximal (short-term) and moderately difficult. The data set used was 79 initial questionnaires retrieved from the MulTeC (Multimodal Teletandem Corpus). Results show that only approximately 10% of goals can be considered appropriate. Features of these goals are described in relation to specificities of the teletandem context. Based on the results, three mechanisms that can help learners to set attainable goals are discussed.

Keywords: foreign language learning, goal setting, teletandem, virtual exchange

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Authors: Waqar Ahmad Butt, Gholamreza Vakili Nezhaad, Ali Soud Al Bemani, Yahya Al Wahaibi

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Minimum miscibility pressure (MMP) plays a great role in determining the displacement efficiency of different gas injection processes. Experimental techniques for MMP determination include industrially recommended slim tube, vanishing interfacial tension (VIT) and rising bubble apparatus (RBA). In this paper, MMP measurement study using slim tube and VIT experimental techniques for two different crude oil samples (M and N) both in live and stock tank oil forms is being presented. VIT measured MMP values for both 'M' and 'N' live crude oils were close to slim tube determined MMP values with 6.4 and 5 % deviation respectively. Whereas for both oil samples in stock tank oil form, VIT measured MMP showed a higher unacceptable deviation from slim tube determined MMP. This higher difference appears to be related to high stabilized crude oil heavier fraction and lack of multiple contacts miscibility. None of the different nine deployed crude oil and CO2 MMP computing correlations could result in reliable MMP, close to slim tube determined MMP. Since VIT determined MMP values for both considered live crude oils are in close match with slim tube determined MMP values, it confirms reliable, reproducible, rapid and cheap alternative for live crude oil MMP determination. Whereas VIT MMP determination for stock tank oil case needed further investigation about stabilization / destabilization mechanism of oil heavier ends and multiple contacts miscibility development issues.

Keywords: minimum miscibility pressure, interfacial tension, multiple contacts miscibility, heavier ends

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Authors: Naveed Iqbal Chaudhry, Mian Saqib Mehmood, Asif Mehmood

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This study investigates the motivators of foreign direct investment (FDI) which will provide a panacea tool and ground breaking results related to it in case of Pakistan. The study considers exchange rate, market size and human capital as the motivators for attracting FDI. In this regard, time series data on annual basis has been collected for the period 1985–2010 and an Augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) unit root tests are utilized to determine the stationarity of the variables. A bound testing approach to co-integration was applied because the variables included in the model are at I(1) – first level stationary. The empirical findings of this study confirm the long run relationship among the variables. However, market size and human capital have strong positive and significant impact, in short and long-run, for attracting FDI but exchange rate shows negative impact in this regard. The significant negative coefficient of the ECM indicates that it converges towards equilibrium. CUSUM and CUSUMSQ tests plots are with in the lines of critical value, which indicates the stability of the estimated parameters. However, this model can be used by Pakistan in policy and decision making. For achieving higher economic growth and economies of scale, the country should concentrate on the ingredients of this study so that it could attract more FDI as compared to the other countries.

Keywords: ARDL, CUSUM and CUSUMSQ tests, ECM, exchange rate, FDI, human capital, market size, Pakistan

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Authors: Chih-Hsiang Chang, Pei-Shan Kao

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This paper discusses the reaction of investors in the Taiwan stock market to the most probable unknown earnings-related information and the most probable known earnings-related information. As compared with the previous literature regarding the effect of an official announcement of earnings forecast revision, this paper further analyzes investors’ cognitive bias toward the unknown and known earnings-related information, and the role of media during the investors' reactions to the foresaid information shocks. The empirical results show that both the unknown and known earnings-related information provides useful information content for a stock market. In addition, cognitive bias and disposition effect are the behavioral pitfalls that commonly occur in the process of the investors' reactions to the earnings-related information. Finally, media coverage has a remarkable influence upon the investors' trading decisions.

Keywords: cognitive bias, role of media, disposition effect, earnings-related information, behavioral pitfall

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Authors: Giovana Nunes Inocêncio

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The professional and technological education (EPT) plays a pivotal role in equipping students for specialized careers, and it is imperative to establish a framework for efficient data exchange among educational institutions. The primary focus of this article is to address the pressing need for document interoperability within the context of EPT. The challenges, motivations, and benefits of implementing interoperability standards for digital educational documents are thoroughly explored. These documents include EPT completion certificates, academic records, and curricula. In conjunction with the prior abstract, it is evident that the intersection of IT governance and interoperability standards holds the key to transforming the landscape of technical education in Brazil. IT governance provides the strategic framework for effective data management, aligning with educational objectives, ensuring compliance, and managing risks. By adopting interoperability standards, the technical education sector in Brazil can facilitate data exchange, enhance data security, and promote international recognition of qualifications. The utilization of the XML (Extensible Markup Language) standard further strengthens the foundation for structured data exchange, fostering efficient communication, standardization of curricula, and enhancing educational materials. The IT governance, interoperability standards, and data management critical role in driving the quality, efficiency, and security of technical education. The adoption of these standards fosters transparency, stakeholder coordination, and regulatory compliance, ultimately empowering the technical education sector to meet the dynamic demands of the 21st century.

Keywords: interoperability, education, standards, governance

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Authors: Havva Tutar Kahraman, Erol Pehlivan

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In recent years, environmental pollution by wastewater rises very critically. Effluents discharged from various industries cause this challenge. Different type of pollutants such as organic compounds, oxyanions, and heavy metal ions create this threat for human bodies and all other living things. However, heavy metals are considered one of the main pollutant groups of wastewater. Therefore, this case creates a great need to apply and enhance the water treatment technologies. Among adopted treatment technologies, adsorption process is one of the methods, which is gaining more and more attention because of its easy operations, the simplicity of design and versatility. Ion exchange process is one of the preferred methods for removal of heavy metal ions from aqueous solutions. It has found widespread application in water remediation technologies, during the past several decades. Therefore, the purpose of this study is to the removal of hexavalent chromium, Cr(VI), from aqueous solutions. Cr(VI) is considered as a well-known highly toxic metal which modifies the DNA transcription process and causes important chromosomic aberrations. The treatment and removal of this heavy metal have received great attention to maintaining its allowed legal standards. The purpose of the present paper is an attempt to investigate some aspects of the use of three anion exchange resins: Eichrom 1-X4, Lewatit Monoplus M800 and Lewatit A8071. Batch adsorption experiments were carried out to evaluate the adsorption capacity of these three commercial resins in the removal of Cr(VI) from aqueous solutions. The chromium solutions used in the experiments were synthetic solutions. The parameters that affect the adsorption, solution pH, adsorbent concentration, contact time, and initial Cr(VI) concentration, were performed at room temperature. High adsorption rates of metal ions for the three resins were reported at the onset, and then plateau values were gradually reached within 60 min. The optimum pH for Cr(VI) adsorption was found as 3.0 for these three resins. The adsorption decreases with the increase in pH for three anion exchangers. The suitability of Freundlich, Langmuir and Scatchard models were investigated for Cr(VI)-resin equilibrium. Results, obtained in this study, demonstrate excellent comparability between three anion exchange resins indicating that Eichrom 1-X4 is more effective and showing highest adsorption capacity for the removal of Cr(VI) ions. Investigated anion exchange resins in this study can be used for the efficient removal of chromium from water and wastewater.

Keywords: adsorption, anion exchange resin, chromium, kinetics

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Dany Ng Cheong Vee, Preethee Nunkoo Gonpot, Noor Sookia

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In this paper, we consider the application of Extreme Value Theory as a risk measurement tool. The Value at Risk, for a set of indices, from six Stock Exchanges of Frontier markets is calculated using the Peaks over Threshold method and the performance of the model index-wise is evaluated using coverage tests and loss functions. Our results show that 'fat-tailedness' alone of the data is not enough to justify the use of EVT as a VaR approach. The structure of the returns dynamics is also a determining factor. This approach works fine in markets which have had extremes occurring in the past thus making the model capable of coping with extremes coming up (Colombo, Tunisia and Zagreb Stock Exchanges). On the other hand, we find that indices with lower past than present volatility fail to adequately deal with future extremes (Mauritius and Kazakhstan). We also conclude that using EVT alone produces quite static VaR figures not reflecting the actual dynamics of the data.

Keywords: extreme value theory, financial crisis 2008, value at risk, frontier markets

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Authors: Pallavi Kishore, Mariam Aslam

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The sharp decline in oil prices that started in 2014 affected most economies in the world either positively or negatively. In some economies, particularly the oil exporting countries, the effects were felt immediately. The Gulf Cooperation Council’s (GCC henceforth) countries are oil and gas-dependent with the largest oil reserves in the world. UAE (United Arab Emirates) has been striving to diversify away from oil and expects higher non-oil growth in 2018. These two factors, falling oil prices and the economy strategizing away from oil dependence, make a compelling case to study the financial performance of various sectors in the economy. Among other sectors, the insurance sector is widely recognized as an important indicator of the health of the economy. An expanding population, surge in construction and infrastructure, increased life expectancy, greater expenditure on automobiles and other luxury goods translate to a booming insurance sector. A slow-down of the insurance sector, on the other hand, may indicate a general slow-down in the economy. Therefore, a study on the insurance sector will help understand the general nature of the current economy. This study involves calculations and comparisons of ratios pre and post the fall in oil prices in the insurance sector in the UAE. A sample of 33 companies listed on the official stock exchanges of UAE-Dubai Financial Market and Abu Dhabi Stock Exchange were collected and empirical analysis employed to study the financial performance pre and post fall in oil prices. Ratios were calculated in 5 categories: Profitability, Liquidity, Leverage, Efficiency, and Investment. The means pre- and post-fall are compared to conclude that the profitability ratios including ROSF (Return on Shareholder Funds), ROCE (Return on Capital Employed) and NPM (Net Profit Margin) have all taken a hit. Parametric tests, including paired t-test, concludes that while the fall in profitability ratios is statistically significant, the other ratios have been quite stable in the period. The efficiency, liquidity, gearing and investment ratios have not been severely affected by the fall in oil prices. This may be due to the implementation of stronger regulatory policies and is a testimony to the diversification into the non-oil economy. The regulatory authorities can use the findings of this study to ensure transparency in revealing financial information to the public and employ policies that will help further the health of the economy. The study will also help understand which areas within the sector could benefit from more regulations.

Keywords: UAE, insurance sector, ratio analysis, oil price, profitability, liquidity, gearing, investment, efficiency

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Authors: Selin Guney, Andres Riquelme

Abstract:

The traditional bio-economic method for fisheries modeling uses some estimate of the growth parameters and the system carrying capacity from a biological model for the population dynamics (usually a logistic population growth model) which is then analyzed as a traditional production function. The stock dynamic is transformed into a revenue function and then compared with the extraction costs to estimate the maximum economic yield. In this paper, the logistic population growth model for the population is combined with a forecast of the abundance and location of the stock by using a generalized additive model approach. The paper focuses on the Chilean hake population. This method allows for the incorporation of climatic variables and the interaction with other marine species, which in turn will increase the reliability of the estimates and generate better extraction paths for different conservation objectives, such as the maximum biological yield or the maximum economic yield.

Keywords: bio-economic, fisheries, GAM, production

Procedia PDF Downloads 230

Authors: Andrea Leon, J. M. Florez, P. Vargas

Abstract:

The effect of hydrogen adsorption on the magnetic properties of fcc Ni has been calculated using the linear-muffin-tin-orbital formalism and using the local-density approximation for the exchange y correlation. The calculations for the ground state show that the sequential addition of hydrogen atoms is found to monotonically reduce the total magnetic moment of the Ni fcc structure, as a result of changes in the exchange-splitting parameter and in the Fermi energy. In order to physically explain the effect of magnetization reduction as the Hydrogen concentration increases, we propose a Stoner impurity model to describe the influence of H impurity on the magnetic properties of Nickel.

Keywords: electronic structure, magnetic properties, Nickel hydride, stoner model

Procedia PDF Downloads 435