Search results for: Maria João Santos
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1394

Search results for: Maria João Santos

974 The Properties of Risk-based Approaches to Asset Allocation Using Combined Metrics of Portfolio Volatility and Kurtosis: Theoretical and Empirical Analysis

Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

Abstract:

Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

Procedia PDF Downloads 65
973 Adaptable Buildings for More Sustainable Housing: Energy Life Cycle Analysis

Authors: Rafael Santos Fischer, Aloísio Leoni Schmid, Amanda Dalla-Bonna

Abstract:

The life cycle analysis and the energy life cycle analysis are useful design support tools when sustainability becomes imperative. The final phase of buildings life cycle is probably the least known, on which less knowledge is available. In the Brazilian building industry, the lifespan of a building design rarely is treated as a definite design parameter. There is rather a common sense attitude to take any building demands as permanent, and to take for granted that buildings solutions are durable and solid. Housing, being a permanent issue in any society, presents a real challenge to the choice of a design lifespan. In Brazilian history, there was a contrast of the native solutions of collective, non-durable houses built by several nomadic tribes, and the stone and masonry buildings introduced by the sedentary Portuguese conquerors. Durable buildings are commonly associated with welfare. However, social dynamics makes traditional families of both parents and children be just one of several possible arrangements. In addition, a more liberal attitude towards family leads to an increase in the number of people living in alternative arrangements. Japan is an example of country where houses have been made intentionally ephemeral since the half of 20th century. The present article presents the development of a flexible housing design solution on the basis of the Design Science Research approach. A comparison in terms of energy life cycle shows how flexibility and dematerialization may point at a feasible future for housing policies in Brazil.

Keywords: adaptability, adaptable building, embodied energy, life cyclce analysis, social housing

Procedia PDF Downloads 589
972 Identifying Organizational Culture to Implement Knowledge Management: Case Study of BKN, Indonesia

Authors: Maria Margaretha, Elin Cahyaningsih, Dana Indra Sensuse Lukman

Abstract:

One of key success an organization can be seen from its culture. Employee, environment, and so on are factors for organization to achieve goals and build a competitive advantage. Type of organizational culture can be a guide to implementing Knowledge Management (KM) in organization especially in BKN. Culture will determine behavior of employees or environment to support KM. This paper describes the process to decide which culture does organization belong and suggestion and creating strategic moves in the future to implement KM. OCAI (Organizational Culture Assessment Instrument) and its framework (Competing Value Framework) were used to decide the type of organizational culture. To implement KM in organization, clan is an appropriate culture, because clan culture represent cultural values and leader type to implement a successful KM. Result of the measurement will be references for BKN to improve organization culture to achieve its goals and organization effectiveness.

Keywords: organizational culture, government, knowledge management, OCAI

Procedia PDF Downloads 621
971 Optical and Structural Characterization of Rare Earth Doped Phosphate Glasses

Authors: Zélia Maria Da Costa Ludwig, Maria José Valenzuela Bell, Geraldo Henriques Da Silva, Thales Alves Faraco, Victor Rocha Da Silva, Daniel Rotmeister Teixeira, Vírgilio De Carvalho Dos Anjos, Valdemir Ludwig

Abstract:

Advances in telecommunications grow with the development of optical amplifiers based on rare earth ions. The focus has been concentrated in silicate glasses although their amplified spontaneous emission is limited to a few tens of nanometers (~ 40nm). Recently, phosphate glasses have received great attention due to their potential application in optical data transmission, detection, sensors and laser detector, waveguide and optical fibers, besides its excellent physical properties such as high thermal expansion coefficients and low melting temperature. Compared with the silica glasses, phosphate glasses provide different optical properties such as, large transmission window of infrared, and good density. Research on the improvement of physical and chemical durability of phosphate glass by addition of heavy metals oxides in P2O5 has been performed. The addition of Na2O further improves the solubility of rare earths, while increasing the Al2O3 links in the P2O5 tetrahedral results in increased durability and aqueous transition temperature and a decrease of the coefficient of thermal expansion. This work describes the structural and spectroscopic characterization of a phosphate glass matrix doped with different Er (Erbium) concentrations. The phosphate glasses containing Er3+ ions have been prepared by melt technique. A study of the optical absorption, luminescence and lifetime was conducted in order to characterize the infrared emission of Er3+ ions at 1540 nm, due to the radiative transition 4I13/2 → 4I15/2. Our results indicate that the present glass is a quite good matrix for Er3+ ions, and the quantum efficiency of the 1540 nm emission was high. A quenching mechanism for the mentioned luminescence was not observed up to 2,0 mol% of Er concentration. The Judd-Ofelt parameters, radiative lifetime and quantum efficiency have been determined in order to evaluate the potential of Er3+ ions in new phosphate glass. The parameters follow the trend as Ω2 > Ω4 > Ω6. It is well known that the parameter Ω2 is an indication of the dominant covalent nature and/or structural changes in the vicinity of the ion (short range effects), while Ω4 and Ω6 intensity parameters are long range parameters that can be related to the bulk properties such as viscosity and rigidity of the glass. From the PL measurements, no red or green upconversion was measured when pumping the samples with laser excitation at 980 nm. As future prospects: Synthesize this glass system with silver in order to determine the influence of silver nanoparticles on the Er3+ ions.

Keywords: phosphate glass, erbium, luminescence, glass system

Procedia PDF Downloads 510
970 Intertextuality in Tourism Advertising: Sources of Knowledge Asymmetries in Translating Vocative Texts

Authors: Maria Ilyushkina

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The article addresses the problem of translating vocative texts with intertextual references and describes the influence of language on how knowledge and meaning are developed in the field of advertising. The starting point of the article takes advertisements from the sphere of tourism and the way we choose, translate, and interpret intertexts. The article focuses on the perception and understanding of the information in printed texts advertising recreational facilities and services for tourists as the target audience by representatives of other cultures and the knowledge intertexts convey. The authors argue that intertextuality complicates translation leading to knowledge asymmetries. Studying typical communicative failures is considered to be of great importance, allowing for improvement in the practice of translation in the sphere of advertising as well as preventing the fallacious transfer of knowledge when translating foreign intertexts.

Keywords: advertising, translation, intertext, Russian culture, knowledge asymmetries, tourism, vocative texts

Procedia PDF Downloads 134
969 Violence of Tyrant Children to Their Parents: An Interdisciplinary Approach

Authors: Marta Maria Aguilar Carceles, Ginesa Torrente Hernandez

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The goal of the current study is focused on giving an interdisciplinary comprehension of an increased phenomenon in recent years: violence against parents. Violence can take different forms depending on the context and the vulnerability of the victims, but in this kind of situations, the relationship between parents and young people can become abusive and uncontrollable. Taking a sample from the Spanish Criminal Courts, this study explores those psychological and sociological factors that can contribute to the appearance and continuity of this kind of behaviors in minors. It is considered factors like the type of offence, presence or absence of psychopathology in the subjects, family aspects, or sociodemographic factors, getting a criminal profile of the minor and evaluating which measures are more efficient or adequate in each particular case. Finally, it will be discussed on how getting effective interventions and restorative responses to address teen violence against their parents within the Spanish Legal System.

Keywords: criminality, legal system, parents, tyrant sons, violence

Procedia PDF Downloads 146
968 In the Eyes of Basilyo at Crispin: A Phenomenological Lived Experience of the Filipino Children of Parents with Mental Illness

Authors: Cely D. Magpantay, Geolynne Marie Adel, Cire-rine Mae Concepcion, Dessa Jean Orcajada, Jorgette Andrea Santos, Orian Laurace Canaman

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Mental illness initiative is very relevant in promoting the Mental Health Bill act of 2017. In the Philippines alone, the public is more open and receptive to people at risks with a mental condition. Although it is uncommon that parents can become more psychologically unfit compared to their children, research shows that parents who are suffering from mental illness have a more significant negative effect than another family member. The impact of parent’s mental health can put their children more susceptible to acquire the same disorder. The aim of the study is to explore the lived experiences of children whose parents suffered from mental illness. It discusses how their parent's mental condition in, anyway, affects their psychological development. Using Phenomenological Qualitative Research, an in-depth, interview was conducted to five (5) consenting adults who lived with their parents diagnosed with a mental disorder. Results are clustered into four themes. The first theme is the negative emotion towards parents, the second theme is the psychosocial dynamics in caring for the patient, third is accepting the disease, and fourth is a general perspective on the family. Each themes is validated by experts and the participants. This theme generates subcomponent like isolation, shallow relationship and debt of gratitude. Along with these themes comes the fear of having a family emerged. There is a growing need to strengthen the family ties even more because of parent’s mental illness. Therefore, parental mental illness has an effect on the children’s psychological and social development.

Keywords: lived experience in Philippines, mental health, parental mental illness, psychosocial dynamics

Procedia PDF Downloads 315
967 A Strategy to Reduce Salt Intake: The Use of a Seasoning Obtained from Wine Pomace

Authors: María Luisa Gonzalez-SanJose, Javier Garcia-Lomillo, Raquel Del Pino, Miriam Ortega-Heras, Maria Dolores Rivero-Perez, Pilar Muñiz-Rodriguez

Abstract:

One of the most preoccupant problems related to the diet of the occidental societies is the high salt intake. In Spain, salt intake is almost twice as recommended by the World Health Organization (WHO). A lot of negative health effects of high sodium intake have been described being the hypertension, cardiovascular and coronary diseases ones of the most important. Due to this fact, government and other institutions are working on the gradual reduction of this consumption. Intake of meat products have been described as the main processed products that bring salt to the diet, followed by snacks and savory crackers. However, fortunately, the food industry has also raised awareness of this problem and is working intensely, and in recent years attempts to reduce the salt content in processed products, and is developing special lines with low sodium content. It is important to consider that processed food are the main source of sodium in occidental countries. One of the possible strategies to reduce the salt content in food is to find substitutes that can emulate their taste properties without adding much sodium or products that mask or substitute salty sensations with other flavors and aromas. In this sense, multiple products have been proposed and used until now. Potassium salts produce similar salty sensations without bring sodium, however their intake should be also limited, by healthy reasons. Furthermore, some potassium salts shows some better notes. Other alternatives are the use of flavor enhancers, spices, aromatic herbs, sea-plant derivate products, etc. The wine pomace is rich in potassium salts, content organic acid and other flavored substances, therefore it could be an interesting raw material to obtain derived products that could be useful as alternative ‘seasonings’. Considering previous comments, the main aim of this study was to evaluate the possible use of a natural seasoning, made from red wine pomace, in two different foods, crackers and burgers. The seasoning was made in the pilot plant of food technology of the University of Burgos, where the studied crackers and patties were also made. Different members of the University, students, docent and administrative personal, taste the products, and a trained panel evaluated salty intensity. The seasoning in addition to potassium contain significant levels of dietary fiber and phenolic compounds, which also makes it interesting as a functional ingredient. Both burgers and crackers made with the seasoning showed better taste that those without salt. Obviously, they showed lower sodium content than normal formulation, and were richer in potassium, antioxidant and fiber. Then, they showed lower values of the relation Na/K. All these facts are correlated with more ‘healthy’ products especially to that people with hypertension and other coronary dysfunctions.

Keywords: healthy foods, low salt, seasoning, wine pomace

Procedia PDF Downloads 274
966 US Airlines Performance and Its Connection with Service Quality

Authors: Nicole Kalemba, Fernando Campa-Planas, Ana-Beatriz Hernández-Lara, Maria Victória Sánchez-Rebull

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The purpose of this paper is to determine the effects of service quality on US airlines’ economic performance. In order to cover this goal, it has been considered four different indexes of service quality in the air transportation industry, and also two indicators of economic performance, revenues and return on investment (ROI). Data from American airline companies over a period that covers from 2006 to 2013 have been used in order to determine if airlines’ profitability increases when service quality improves. Considering the effects on airlines’ profitability, the results confirm the positive and significant influence of service quality on the ROI of the companies in our study. Meanwhile, a non-significant effect was found for airline revenues related to quality. No previous research in this area has been done and these findings could encourage airline companies to invest in quality as far as this policy can have a return on their profitability.

Keywords: airlines, economic performance, key performance indicators, quality

Procedia PDF Downloads 473
965 Improvement of Protein Extraction From Shrimp by Product Used for Electrospinning by Applying Emerging Technologies

Authors: Mario Pérez-Won, Vilbett Briones L., Guido Trautmann, María José Bugueño, Gipsy Tabilo-Munizaga, Luis Gonzalez-Cavieres

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The fishing industry generates a significant amount of shrimp byproducts, which often result in environmental contamination. Protein extraction from these by-products is a potential solution to minimize waste and revalue the by-products. To improve the extraction of proteins (by chemical method) from shrimp (Pleuroncodes monodon) by-products, the emerging technologies of ohmic heating (OH), microwaves (MW) and pulsed electric fields (PEF) were used. The results show that microwaves, electrical pulses, and ohmic heating improved performance by 28.19%, 19.25%, and 3.65%, respectively. Furthermore, conformational changes were studied by DSC and FTIR. Subsequently, the use of these proteins in electrospinning technology was evaluated. In conclusion, this study demonstrates that the application of emerging technologies, can significantly improve the extraction yield of proteins from shrimp by-products.

Keywords: electrospinning, emerging technologies, improving extraction, shrimp by-products

Procedia PDF Downloads 76
964 Mercury (Hg) Concentration in Fish Marketed in the São Luís Fish Market (MA) and Potential Exposure of Consumers

Authors: Luiz Drude de Lacerda, Kevin Luiz Cordeiro Ferrer do Carmo, Victor Lacerda Moura, Rayone Wesley Santos de Oliveira, Moisés Fernandes Bezerra

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Fish is a food source well recognized for its health benefits. However, the consumption of fish, especially carnivorous species, is the main path of human exposure to Hg, a widely distributed pollutant on the planet and that accumulates along food chains. Studies on the impacts on public health by fish intake show existing toxic risks even when at low concentrations. This study quantifies, for the first time, the concentrations of Hg in muscle tissue of the nine most commercialized fish species in the fish market of São Luís (MA) in north Brazil and estimates the consequent human exposure through consumption. Concentrations varied according to trophic level, with the highest found in the larger carnivorous species; the Yellow hake (Cynoscion acoupa) (296.4 ± 241.2 ng/g w.w) and the Atlantic croaker (Micropogonias undulatus) (262.8 ± 89.1 ng/g w.w.), whereas the lowest concentrations were recorded in iliophagous Mullets (Mugil curema) (20.5 ± 9.6 ng/g w.w.). Significant correlations were observed between Hg concentrations and individual length in only two species: the Flaming catfish (Bagre marinus) and the Atlantic bumper (Chloroscombrus crysurus). Given the relatively uniform size of individuals of the other species and/or the small number of samples, this relationship was not found for the other species. The estimated risk coefficients, despite the relatively low concentrations of Hg, suggest that yellow hake and Whitemouth croaker (Micropogonias furnieri), fish most consumed by the local population, present some risk to human health (> 1) HQ and THQ, depending on the frequency of their consumption.

Keywords: contamination, fish, human exposure, risk assessment

Procedia PDF Downloads 112
963 Psychological Well-Being and Perception of Disease Severity in People with Multiple Sclerosis, Who Underwent a Program of Self-Regulation to Promote Physical Activity

Authors: Luísa Pedro, José Pais-Ribeiro, João Páscoa Pinheiro

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Multiple Sclerosis (MS) is a chronic disease of the central nervous system that affects more often young adults in the prime of his career and personal development, with no cure and unknown causes. The most common signs and symptoms are fatigue, muscle weakness, changes in sensation, ataxia, changes in balance, gait difficulties, memory difficulties, cognitive impairment and difficulties in problem solving. MS is a relatively common neurological disorder in which various impairments and disabilities impact strongly on function and daily life activities. The aim of this study is to examine the implications of the program of self-regulation in the perception of illness and mental health (psychological well-being domain) in MS patients. MS is a relatively common neurological disorder in which various impairments and disabilities impact strongly on function and daily life activities. The aim of this study is to examine the implications of the program of self-regulation in the perception of illness and mental health (psychological well-being domain) in MS patients. After this, a set of exercises was implemented to be used in daily life activities, according to studies developed with MS patients. We asked the subjects the question “Please classify the severity of your disease?” and used the domain of psychological well-being, the Mental Health Inventory (MHI-38) at the beginning (time A) and end (time B) of the program of self-regulation. We used the Statistical Package for the Social Sciences (SPSS) version 20. A non-parametric statistical hypothesis test (Wilcoxon test) was used for the variable analysis. The intervention followed the recommendations of the Helsinki Declaration. The age range of the subjects was between 20 and 58 years with a mean age of 44 years. 58.3 % were women, 37.5 % were currently married, 67% were retired and the mean level of education was 12.5 years. In the correlation between the severity of the disease perception and psychological well before the self-regulation program, an obtained result (r = 0.26, p <0.05), then the self-regulation program, was (r = 0.37, p <0.01), from a low to moderate correlation. We conclude that the program of self-regulation for physical activity in patients with MS can improve the relationship between the perception of disease severity and psychological well-being.

Keywords: psychological well-being, multiple sclerosis, self-regulation, physical activity

Procedia PDF Downloads 489
962 Novel Synthesis of Metal Oxide Nanoparticles from Type IV Deep Eutectic Solvents

Authors: Lorenzo Gontrani, Marilena Carbone, Domenica Tommasa Donia, Elvira Maria Bauer, Pietro Tagliatesta

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One of the fields where DES shows remarkable added values is the synthesis Of inorganic materials, in particular nanoparticles. In this field, the higher- ent and highly-tunable nano-homogeneities of DES structure give origin to a marked templating effect, a precious role that has led to the recent bloom of a vast number of studies exploiting these new synthesis media to prepare Nanomaterials and composite structures of various kinds. In this contribution, the most recent developments in the field will be reviewed, and some ex-citing examples of novel metal oxide nanoparticles syntheses using non-toxic type-IV Deep Eutectic Solvents will be described. The prepared materials possess nanometric dimensions and show flower-like shapes. The use of the pre- pared nanoparticles as fluorescent materials for the detection of various contaminants is under development.

Keywords: metal deep eutectic solvents, nanoparticles, inorganic synthesis, type IV DES, lamellar

Procedia PDF Downloads 135
961 Self-Healing Phenomenon Evaluation in Cementitious Matrix with Different Water/Cement Ratios and Crack Opening Age

Authors: V. G. Cappellesso, D. M. G. da Silva, J. A. Arndt, N. dos Santos Petry, A. B. Masuero, D. C. C. Dal Molin

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Concrete elements are subject to cracking, which can be an access point for deleterious agents that can trigger pathological manifestations reducing the service life of these structures. Finding ways to minimize or eliminate the effects of this aggressive agents’ penetration, such as the sealing of these cracks, is a manner of contributing to the durability of these structures. The cementitious self-healing phenomenon can be classified in two different processes. The autogenous self-healing that can be defined as a natural process in which the sealing of this cracks occurs without the stimulation of external agents, meaning, without different materials being added to the mixture, while on the other hand, the autonomous seal-healing phenomenon depends on the insertion of a specific engineered material added to the cement matrix in order to promote its recovery. This work aims to evaluate the autogenous self-healing of concretes produced with different water/cement ratios and exposed to wet/dry cycles, considering two ages of crack openings, 3 days and 28 days. The self-healing phenomenon was evaluated using two techniques: crack healing measurement using ultrasonic waves and image analysis performed with an optical microscope. It is possible to observe that by both methods, it possible to observe the self-healing phenomenon of the cracks. For young ages of crack openings and lower water/cement ratios, the self-healing capacity is higher when compared to advanced ages of crack openings and higher water/cement ratios. Regardless of the crack opening age, these concretes were found to stabilize the self-healing processes after 80 days or 90 days.

Keywords: sealf-healing, autogenous, water/cement ratio, curing cycles, test methods

Procedia PDF Downloads 160
960 Bioremediation Potential of Stegiocolonium and Spirogyra Grown in Waste Water

Authors: Neelma Munir, Zirwa Sarwar, Rubab Naseem, Maria Hasnain, Shagufta Naz

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Wastewater discharge from different sources causes contamination of water bodies and eutrophication. Stegiocolonium and Spirogyra are commonly found algal species in the water bodies of Pakistan. These algal species were tested for their bioremediation potential using different wastewaters. Different parameters, i.e., BOD, COD, pH, nitrates, phosphates and microflora, were analyzed to observe the phycoremediation efficiency of the tested algal strains. When these different wastewaters were treated with these algae, reduction of BOD and COD was observed helped in the reduction of pollutants from the environment. From the results of the present study, it was evident that Ulothrix sp. and Oedogonium sp. showed a high biomass production in different wastewaters as compared to Stigeoclonium sp. and Spirogyra sp. Whereas the oil content of Stigeoclonium sp. was greater than Spirogyra sp. Oil extracted from algal strains was then utilized for converting it to biodiesel, indicating that these algal species can be cultured in wastewater to produce biodiesel.

Keywords: algae, wastewater, biofuel, bioremediation

Procedia PDF Downloads 151
959 Application of Dual-Stage Sugar Substitution Technique in Tommy Atkins Mangoes

Authors: Rafael A. B. De Medeiros, Zilmar M. P. Barros, Carlos B. O. De Carvalho, Eunice G. Fraga Neta, Maria I. S. Maciel, Patricia M. Azoubel

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The use of the sugar substitution technique (D3S) in mango was studied. It consisted of two stages and the use of ultrasound in one or both stages was evaluated in terms of water loss and solid gain. Higher water loss results were found subjecting the fruit samples to ultrasound in the first stage followed by immersion of the samples in Stevia-based solution with application of ultrasound in the second stage, while higher solids gain were obtained without application of ultrasound in second stage. Samples were evaluated in terms of total carotenoids content and total color difference. Samples submitted to ultrasound in both D3S stages presented higher carotenoid retention compared to samples sonicated only in the first stage. Color of man goes after the D3S process showed notable changes.

Keywords: Mangifera indica L., quality, Stevia rebaudiana, ultrasound

Procedia PDF Downloads 403
958 Government Size and Economic Growth: Testing the Non-Linear Hypothesis for Nigeria

Authors: R. Santos Alimi

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Using time-series techniques, this study empirically tested the validity of existing theory which stipulates there is a nonlinear relationship between government size and economic growth; such that government spending is growth-enhancing at low levels but growth-retarding at high levels, with the optimal size occurring somewhere in between. This study employed three estimation equations. First, for the size of government, two measures are considered as follows: (i) share of total expenditures to gross domestic product, (ii) share of recurrent expenditures to gross domestic product. Second, the study adopted real GDP (without government expenditure component), as a variant measure of economic growth other than the real total GDP, in estimating the optimal level of government expenditure. The study is based on annual Nigeria country-level data for the period 1970 to 2012. Estimation results show that the inverted U-shaped curve exists for the two measures of government size and the estimated optimum shares are 19.81% and 10.98%, respectively. Finally, with the adoption of real GDP (without government expenditure component), the optimum government size was found to be 12.58% of GDP. Our analysis shows that the actual share of government spending on average (2000 - 2012) is about 13.4%.This study adds to the literature confirming that the optimal government size exists not only for developed economies but also for developing economy like Nigeria. Thus, a public intervention threshold level that fosters economic growth is a reality; beyond this point economic growth should be left in the hands of the private sector. This finding has a significant implication for the appraisal of government spending and budgetary policy design.

Keywords: public expenditure, economic growth, optimum level, fully modified OLS

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957 Neuromarketing: Discovering the Somathyc Marker in the Consumer´s Brain

Authors: Mikel Alonso López, María Francisca Blasco López, Víctor Molero Ayala

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The present study explains the somatic marker theory of Antonio Damasio, which indicates that when making a decision, the stored or possible future scenarios (future memory) images allow people to feel for a moment what would happen when they make a choice, and how this is emotionally marked. This process can be conscious or unconscious. The development of new Neuromarketing techniques such as functional magnetic resonance imaging (fMRI), carries a greater understanding of how the brain functions and consumer behavior. In the results observed in different studies using fMRI, the evidence suggests that the somatic marker and future memories influence the decision-making process, adding a positive or negative emotional component to the options. This would mean that all decisions would involve a present emotional component, with a rational cost-benefit analysis that can be performed later.

Keywords: emotions, decision making, somatic marker, consumer´s brain

Procedia PDF Downloads 403
956 Divergent Weathering on Two Sides of Plastic Fragments from Coastal Environments Around the Globe

Authors: Bo Hu, Mui-Choo Jong, João Frias, Irina Chubarenko, Gabriel Enrique De-la-Torre, Prabhu Kolandhasamy, Md. Jaker Hossain, Elena Esiukova, Lei Su, Hua Deng, Huahong Shi

Abstract:

Plastic debris in coastal environments undergoes a series of aging processes due to the diverse environmental conditions they are exposed to. Existing research to date lacks a thorough understanding of how these processes affect exposed and non-exposed sides of plastic fragments, leading to potentially biased conclusions on how degradation occurs. This study addresses this knowledge gap by examining surface aging characteristics on both sides (e.g., cracks, delaminations, pits, wrinkles and color residues) of 1573 plastic fragments collected from 15 coastal sites worldwide and conducting outdoor aging simulations. A clear contrast was observed between the two sides of the plastic fragments, where one of the sides often displayed more pronounced aging features. Three key indicators were introduced to quantify the aging characteristics of plastic fragments, with values ranging from 0.00 to 58.00 mm/mm2 (line density), 0.00 to 92.12% (surface loss) and 0.00 to 1.51 (texture index), respectively. Outdoor simulations revealed that sun-exposed sides of plastic sheets developed more cracks, pores, and bubbles, while the shaded sides remained smoother. The annual average solar radiation intensity of 4.47 kWh in the experimental area exacerbated the degradation of the sun-exposed side, as confirmed by a significant increase in carbonyl index, with PE rising from 0.50 to 1.70, PP from 0.18 to 1.10, and PVC from 0.45 to 1.57, indicating photoaging. These results highlight the uneven weathering patterns of plastic fragments on shorelines due to varying environmental stresses. In particular, the side facing the sun exhibited more pronounced signs of aging. Outdoor experiments confirmed that the fragments’ sun-exposed sides experienced significantly higher degrees of weathering compared to the shaded sides. This study demonstrated that the divergent weathering patterns on the two sides of beach plastic fragments were primarily driven by differences in light exposure, duration, and mechanical stress.

Keywords: plastic fragments, coastal environment, surface aging features, two-sided differences

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955 Carbon Aerogels with Tailored Porosity as Cathode in Li-Ion Capacitors

Authors: María Canal-Rodríguez, María Arnaiz, Natalia Rey-Raap, Ana Arenillas, Jon Ajuria

Abstract:

The constant demand of electrical energy, as well as the increase in environmental concern, lead to the necessity of investing in clean and eco-friendly energy sources that implies the development of enhanced energy storage devices. Li-ion batteries (LIBs) and Electrical double layer capacitors (EDLCs) are the most widespread energy systems. Batteries are able to storage high energy densities contrary to capacitors, which main strength is the high-power density supply and the long cycle life. The combination of both technologies gave rise to Li-ion capacitors (LICs), which offers all these advantages in a single device. This is achieved combining a capacitive, supercapacitor-like positive electrode with a faradaic, battery-like negative electrode. Due to the abundance and affordability, dual carbon-based LICs are nowadays the common technology. Normally, an Active Carbon (AC) is used as the EDLC like electrode, while graphite is the material commonly employed as anode. LICs are potential systems to be used in applications in which high energy and power densities are required, such us kinetic energy recovery systems. Although these devices are already in the market, some drawbacks like the limited power delivered by graphite or the energy limiting nature of AC must be solved to trigger their used. Focusing on the anode, one possibility could be to replace graphite with Hard Carbon (HC). The better rate capability of the latter increases the power performance of the device. Moreover, the disordered carbonaceous structure of HCs enables storage twice the theoretical capacity of graphite. With respect to the cathode, the ACs are characterized for their high volume of micropores, in which the charge is storage. Nevertheless, they normally do not show mesoporous, which are really important mainly at high C-rates as they act as transport channels for the ions to reach the micropores. Usually, the porosity of ACs cannot be tailored, as it strongly depends on the precursor employed to get the final carbon. Moreover, they are not characterized for having a high electrical conductivity, which is an important characteristic to get a good performance in energy storage applications. A possible candidate to substitute ACs are carbon aerogels (CAs). CAs are materials that combine a high porosity with great electrical conductivity, opposite characteristics in carbon materials. Furthermore, its porous properties can be tailored quite accurately according to with the requirements of the application. In the present study, CAs with controlled porosity were obtained from polymerization of resorcinol and formaldehyde by microwave heating. Varying the synthesis conditions, mainly the amount of precursors and pH of the precursor solution, carbons with different textural properties were obtained. The way the porous characteristics affect the performance of the cathode was studied by means of a half-cell configuration. The material with the best performance was evaluated as cathode in a LIC versus a hard carbon as anode. An analogous full LIC made by a high microporous commercial cathode was also assembled for comparison purposes.

Keywords: li-ion capacitors, energy storage, tailored porosity, carbon aerogels

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954 Experimental and Numerical Analysis of a Historical Bell Tower

Authors: Milorad Pavlovic, Sebastiano Trevisani, Antonella Cecchi

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In this paper, a procedure for the evaluation of seismic behavior of slender masonry structures (towers, bell towers, chimneys, minarets, etc.) is presented. The presented procedure is based on a full three-dimensional modal analyses and frequency measurements. As well-known, masonry is a composite material formed by bricks, or stone blocks, and mortar arranged more or less regularly and adopted for many centuries as structural material. Dynamic actions may represent the major risk of collapse of brickworks, and despite the progress achieved so far in science and mechanics; the assessment of their seismic performance remains a challenging task. Then, reliable physical and numerical models are worthy of recommendation. In this paper, attention is paid to the historical bell tower of the Basilica of Santa Maria Gloriosa dei Frari - usually called Frari - one of the greatest churches in Venice, Italy.

Keywords: bell tower, FEM, masonry, modal analysis, non-destructive testing

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953 Self-Concept and Self-Esteem of Adolescents in Lubango, Angola: An Exploratory Study

Authors: Miguel Maria, Tchilissila A. Simoes

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The end of a long period of civil wars in Angola (1975-2002) paved the way for growing scientific research in the field of psychology, allowing us to broaden our knowledge on the Angolan population throughout their individual and family development. In this study, we aimed to assess the index of self-concept and self-esteem of adolescents from private and public secondary schools in Lubango, Angola. One hundred adolescents, between 16 and 18 years old (M = 17.2 years, SD = 0.81), completed the Piers-Harris Children's Self-Concept Scale 2 (Piers, 1984) and the Self-Perception Profile for Children (SPPC; Harter, 1985). Our results pointed out lower values of self-esteem and self-concept compared to international samples. Moreover, the level of education and the type of school attended did not seem to influence the level of participants' self-concept and self-esteem. These results contributed to enrich the literature on Angolan adolescents and propels intervention programs to enhance the self-concept and self-esteem of these individuals.

Keywords: African adolescents, post-war societies, self-esteem, self-concept

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952 The Impact of Health Tourism on Companies’ Performance: A Cross Country Analysis

Authors: Anna Paola Micheli, Carmelo Intrisano, Anna Maria Calce

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This research focused on the capability of health tourism to improve the economic and financial performance of healthcare companies. It is assumed that health tourism companies have better profitability and financial efficiency because they can also count on cross-border demand differently from no health tourism companies. A three-level gap analysis was conducted: the first concerns health tourism companies located in Italy and in the other EU28 states; in the second Italian and EU28, no health tourism companies were compared; the third level is about the Italian system with a comparison between health tourism and no health tourism companies. Findings highlighted that Italian healthcare companies have better profitability performance if compared to European ones, but they present weaknesses in the financial position given the illiquidity and excessive leverage. Furthermore, studying the Italian system, we found that health tourism companies are more profitable than no health tourism companies.

Keywords: financial performance, gap analysis, health tourism, profitability performance, value creation

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951 National Strategy for Swedish Wildlife Management

Authors: Maria Hornell, Marcus Ohman

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Nature, and the society it is a part of, is under constant change. The landscape, climate and game populations vary over time, as well as society's priorities and the way it uses the land where wildlife may proliferate. Sweden currently has historically large wildlife populations which are a resource for the benefit and joy of many people. Wildlife may also be seen as a problem as it may cause damage in contradiction to other human interests. The Swedish Environmental Protection Agency introduces a new long-term strategy for national wildlife management. The strategy envisions a wildlife management in balance. It focuses on wildlife values in a broad sense including outdoor recreation and tourism as well as conservation of biodiversity. It is fundamental that these values should be open and accessible for the major part of the population. For that to be possible new ways to manage, mitigate and prevent damages and other problems that wildlife causes need to be developed. The strategy describes a roadmap for the development and strengthening of Sweden's wildlife management until 2020. It aims at being applicable for those authorities and stakeholders with interest in wildlife management being a guide for their own strategies, goals, and activities.

Keywords: wildlife management, strategy, Sweden, SEPA

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950 Drawing, Design and Building Information Modelling (BIM): Embedding Advanced Digital Tools in the Academy Programs for Building Engineers and Architects

Authors: Vittorio Caffi, Maria Pignataro, Antonio Cosimo Devito, Marco Pesenti

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This paper deals with the integration of advanced digital design and modelling tools and methodologies, known as Building Information Modelling, into the traditional Academy educational programs for building engineers and architects. Nowadays, the challenge the Academy has to face is to present the new tools and their features to the pupils, making sure they acquire the proper skills in order to leverage the potential they offer also for the other courses embedded in the educational curriculum. The syllabus here presented refers to the “Drawing for building engineering”, “2D and 3D laboratory” and “3D modelling” curricula of the MSc in Building Engineering of the Politecnico di Milano. Such topics, included since the first year in the MSc program, are fundamental to give the students the instruments to master the complexity of an architectural or building engineering project with digital tools, so as to represent it in its various forms.

Keywords: BIM, BIM curricula, computational design, digital modelling

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949 Expansion of Cord Blood Cells Using a Mix of Neurotrophic Factors

Authors: Francisco Dos Santos, Diogo Fonseca-Pereira, Sílvia Arroz-Madeira, Henrique Veiga-Fernandes

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Haematopoiesis is a developmental process that generates all blood cell lineages in health and disease. This relies on quiescent haematopoietic stem cells (HSCs) that are able to differentiate, self renew and expand upon physiological demand. HSCs have great interest in regenerative medicine, including haematological malignancies, immunodeficiencies and metabolic disorders. However, the limited yield from existing HSC sources drives the global need for reliable techniques to expand harvested HSCs at high quality and sufficient quantities. With the extensive use of cord blood progenitors for clinical applications, there is a demand for a safe and efficient expansion protocol that is able to overcome the limitations of the cord blood as a source of HSC. StemCell2MAXTM developed a technology that enhances the survival, proliferation and transplantation efficiency of HSC, leading the way to a more widespread use of HSC for research and clinical purposes. StemCell2MAXTM MIX is a solution that improves HSC expansion up to 20x, while preserving stemness, when compared to state-of-the-art. In a recent study by a leading cord blood bank, StemCell2MAX MIX was shown to support a selective 100-fold expansion of CD34+ Hematopoietic Stem and Progenitor Cells (when compared to a 10-fold expansion of Total Nucleated Cells), while maintaining their multipotent differentiative potential as assessed by CFU assays. The technology developed by StemCell2MAXTM opens new horizons for the usage of expanded hematopoietic progenitors for both research purposes (including quality and functional assays in Cord Blood Banks) and clinical applications.

Keywords: cord blood, expansion, hematopoietic stem cell, transplantation

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948 Impacts on Regional Economy by the Upgrade of Railway Infrastructure

Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Transport is often the key driver for growth, especially for regions providing key opportunities for connectivity between busy areas and mature markets. Even though the benefits of transports are essential, limited research is published regarding the linkage of inland transport systems and other business sectors, the spillover effects on regional economy and the overall contribution to regional development. This paper deals with the determination of the key socioeconomic benefits on regions caused by the upgrade and the modernization of a railway corridor. The analysis framework is following a four-step analysis, providing key messages to planners, managers and decision makers. The provided case study is the upgrade of the railway corridor in North Greece, which is a very sensitive region suffering long time from economic stress. The application results are essential for comparisons with other destinations and provide key messages regarding the relationship of railway and economic development.

Keywords: regional development, economic impact assessment variables, railway infrastructure, strategic planning

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947 Direct-Displacement Based Design for Buildings with Non-Linear Viscous Dampers

Authors: Kelly F. Delgado-De Agrela, Sonia E. Ruiz, Marco A. Santos-Santiago

Abstract:

An approach is proposed for the design of regular buildings equipped with non-linear viscous dissipating devices. The approach is based on a direct-displacement seismic design method which satisfies seismic performance objectives. The global system involved is formed by structural regular moment frames capable of supporting gravity and lateral loads with elastic response behavior plus a set of non-linear viscous dissipating devices which reduce the structural seismic response. The dampers are characterized by two design parameters: (1) a positive real exponent α which represents the non-linearity of the damper, and (2) the damping coefficient C of the device, whose constitutive force-velocity law is given by F=Cvᵃ, where v is the velocity between the ends of the damper. The procedure is carried out using a substitute structure. Two limits states are verified: serviceability and near collapse. The reduction of the spectral ordinates by the additional damping assumed in the design process and introduced to the structure by the viscous non-linear dampers is performed according to a damping reduction factor. For the design of the non-linear damper system, the real velocity is considered instead of the pseudo-velocity. The proposed design methodology is applied to an 8-story steel moment frame building equipped with non-linear viscous dampers, located in intermediate soil zone of Mexico City, with a dominant period Tₛ = 1s. In order to validate the approach, nonlinear static analyses and nonlinear time history analyses are performed.

Keywords: based design, direct-displacement based design, non-linear viscous dampers, performance design

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946 The Impact of Job Meaningfulness on the Relationships between Job Autonomy, Supportive Organizational Climate, and Job Satisfaction

Authors: Sashank Nyapati, Laura Lorente-Prieto, Maria Peiro

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The general objective of this study is to analyse the mediating role of meaningfulness in the relationships between job autonomy and job satisfaction and supportive organizational climate and job satisfaction. Theories such as the Job Characteristics Model, Conservation of Resources theory, as well as the Job Demands-Resources theory were used as theoretical framework. Data was obtained from the 5th European Working Conditions Survey (EWCS), and sample was composed of 1005 and 1000 workers from Spain and Portugal respectively. The analysis was conducted using the SOBEL Macro for SPSS (A multiple regression mediation model) developed by Preacher and Hayes in 2003. Results indicated that Meaningfulness partially mediates both the Job Autonomy-Job Satisfaction as well as the Supportive Organizational Climate-Job Satisfaction relationships. However, the percentages are large enough to draw substantial conclusions, especially that Job Meaningfulness plays an essential – if indirect – role in the amount of Satisfaction that one experiences at work. Some theoretical and practical implications are discussed.

Keywords: meaningfulness, job autonomy, supportive organizational climate, job satisfaction

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945 The End Is Just the Beginning: The Importance of Project Post-Implementation Reviews

Authors: Catalin-Teodor Dogaru, Ana-Maria Dogaru

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Success means different things to different people. For us, project managers, it becomes even harder to find a definition. Many factors have to be included in the evaluation. Moreover, literature is not very helpful, lacking consensus and neutrality. Post-implementation reviews (PIR) can be an efficient tool in evaluating how things worked on a certain project. Despite the visible progress, PIR is not a very detailed subject yet and there is not a common understanding in this matter. This may be the reason that some organizations include it in the projects’ lifecycle and some do not. Through this paper, we point out the reasons why all project managers should pay proper attention to this important step and to the elements, which can be assessed, beside the already famous triple constraints: cost, budget, and time. It is essential to take notice that PIR is not a checklist. It brings the edge in eliminating subjectivity and judging projects based on actual proof. Based on our experience, our success indicator model, presented in this paper, contributes to the success of the project! In the same time, it increases trust among customers who will perceive success more objectively.

Keywords: project, post implementation, review, success, indicators

Procedia PDF Downloads 371