Search results for: global financial stability

Authors: Yongsheng Guo, Mengyu Lu

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This study investigates how Chinese SMEs manage financial risks in customer financing. 32 interviews were conducted, and grounded theory models were developed to link the causal conditions, actions, and consequences. This study found that Chinese ethical principles, including integrity, friendship, reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for customer financing. The SMEs establish trust-based relationships with customers and build a social network. The SMEs reduce financial risk through diversification, frequent operations and enterprise reputations. Both customers and SMEs can get benefits, including customer experience and financial rewards for customers and financial resources and customer base for SMEs. But there are some problems, like default for customers and financial cost for enterprises. This study develops a resource and process capability theory of SMEs and a customer capital and customer value theory to connect finance, accounting, and management concepts.

Keywords: CRM, culture, ethics, financing from customer, SME

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Authors: Dao Phuong Nam, Tran Van Tuyen, Do Trong Tan, Bui Minh Dinh, Nguyen Van Huong

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In this paper, we investigate the adaptive optimal control law for continuous-time systems with input disturbances and unknown parameters. This paper extends previous works to obtain the robust control law of uncertain systems. Through theoretical analysis, an adaptive dynamic programming (ADP) based optimal control is proposed to stabilize the closed-loop system and ensure the convergence properties of proposed iterative algorithm. Moreover, the global asymptotic stability (GAS) for closed system is also analyzed. The theoretical analysis for continuous-time systems and simulation results demonstrate the performance of the proposed algorithm for an inverted pendulum system.

Keywords: approximate/adaptive dynamic programming, ADP, adaptive optimal control law, input state stability, ISS, inverted pendulum

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Authors: Mahvish Anwaar

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Research Question: In this paper, we explore the causal relationship between banking competition, banking stability, and economic growth. Research Findings: The unbalanced panel data starting from 2000 to 2018 is collected to analyze the causality among banking competition, banking stability, and economic growth. The main focus of the study is to check the direction of causality among selected variables. The results of the study support the demand following, supply leading, feedback, and neutrality hypothesis conditional to different measures of banking competition, banking stability, and economic growth. Theoretical Implication: Jayakumar, Pradhan, Dash, Maradana, and Gaurav (2018) proposed a theoretical model of the causal relationship between banking competition, banking stability, and economic growth by using different indicators. So, we empirically test the proposed indicators in our study. This study makes a contribution to the literature by showing the defined relationship between developing and developed countries. Policy Implications: The study covers various policy implications regarding investors to analyze how to properly manage their finances, and government agencies will take help from the present study to find the best and most suitable policies by examining how the economy can grow concerning its finances.

Keywords: competition, stability, economic growth, vector auto-regression, granger causality

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Authors: Shibly Abdullah

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This paper provides an overview of fundamental philosophical and functional differences in conventional and Islamic accounting. The aim of this research is to undertake a detailed analysis focus on specific illustrations drawn from both these systems and highlight how these differences implicate in recording financial transactions and preparation of financial reports for a range of stakeholders. Accounting as being universally considered as a platform for providing a ‘true and fair’ view of corporate entities can be challenged in the current world view, as the business environment has evolved and transformed significantly. Growth of the non-traditional corporate entity such as Islamic financial institutions, fundamentally questions the applicability of conventional accounting standards in preparation of Shariah-compliant financial reporting. Coupled with this, there are significant concerns about the wider applicability of Islamic accounting standards and framework in order to achieve reporting practices satisfying the information needs generally. Against the backdrop of such a context, this paper raises fundamental question as to how potential convergence could be achieved between these two systems in order to provide users’ a transparent and comparable state of financial information resulting in an alternative framework of financial reporting.

Keywords: accounting, conventional accounting, corporate reporting, Islamic accounting

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Authors: Manel Youssef, Lotfi Belkacem

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This paper employs multivariate long memory GARCH models to simultaneously estimate mean and conditional variance spillover effects between oil prices and different financial markets. Since different financial assets are traded based on these market sector returns, it’s important for financial market participants to understand the volatility transmission mechanism over time and across these series in order to make optimal portfolio allocation decisions. We examine weekly returns from January 1, 2003 to November 30, 2012 and find evidence of significant transmission of shocks and volatilities between oil prices and some of the examined financial markets. The findings support the idea of cross-market hedging and sharing of common information by investors.

Keywords: oil prices, stock indices returns, oil volatility, contagion, DCC-multivariate (FI) GARCH

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Authors: Matthias Nnadi

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Using samples of 250 large listed firms by market capitalization in China and Hong Kong, we conducted empirical test to determine the impact of regulatory environment on reporting quality following IFRS convergence using three financial reporting measures; earning management, timely loss recognition and value relevance. Our results indicate that accounting data are more value relevant for Hong Kong listed firms than the Chinese A-share firms. The empirical results for timely loss recognition further reveal that there is a larger coefficient estimate on bad news earnings, which suggests that Chines A-share firms are more likely to report losses in a timely manner. The results support the evidence that substantial convergence of IFRS can improve financial reporting quality in a regulated environment such as China. This further supports the expectation that IFRS are relevant to China and has positive effect on its accounting practice and quality.

Keywords: reporting, quality, earning, loss, relevance, financial, China, Hong Kong

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Authors: Lianne M. Q. Lee, Mohammed Sharaf Shaiban

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The importance of bank liquidity management took center stage as policy makers promoted a more resilient global banking system after the market turmoil of 2007. The growing recognition of Islamic banks’ function of intermediating funds in the economy warrants the need to investigate its balance sheet structure which is distinct from its conventional counterparts. Given that asymmetric risk, transformation is inevitable; Islamic banks need to identify the liquidity risk within their distinctive balance sheet structure. Thus, there is a strong need to quantify and assess the liquidity position to ensure proper functioning of a financial institution. It is vital to measure bank liquidity because liquid banks face less liquidity risk. We examine this issue by using two alternative quantitative measures of liquidity creation “cat fat” and “cat nonfat” constructed by Berger and Bouwman (2009). “Cat fat” measures all on balance sheet items including off balance sheet, whilst the latter measures only on balance sheet items. Liquidity creation is measured over the period 2007-2014 in 14 countries where Islamic and conventional commercial banks coexist. Also, separately by bank size class as empirical studies have shown that liquidity creation varies by bank size. An interesting and important finding shows that all size class of Islamic banks, on average have increased creation of aggregate liquidity in real dollar terms over the years for both liquidity creation measures especially for large banks indicating that Islamic banks actually generates more liquidity to the economy compared to its conventional counterparts, including from off-balance sheet items. The liquidity creation for off-balance sheets by conventional banks may have been affected by the global financial crisis when derivatives markets were severely hit. The results also suggest that Islamic banks have the higher volume of assets and deposits and that borrowing/issues of bonds are less in Islamic banks compared to conventional banks because most products are interest-based. As Islamic banks appear to create more liquidity than conventional banks under both measures, it translates that the development of Islamic banking is significant over the decades since its inception. This finding is encouraging as, despite Islamic banking’s overall size, it represents growth opportunities for these countries.

Keywords: financial institution, liquidity creation, liquidity risk, policy and regulation

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Authors: Siti Zabedah Saidin, Aidi Ahmi, Azharudin Ali, Wan Norhayati Wan Ahmad

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In today's increasingly complex and interconnected world, the concept of sustainability has transcended mere corporate social responsibility, evolving into a fundamental driver of organizational behaviour and disclosure. This content analysis study delves into the Malaysian federal-level statutory bodies’ annual report for the year 2021, aiming to elucidate the extent of sustainability disclosures within the non-financial sections of these reports. The escalating global emphasis on sustainability has prompted organizations to embrace transparency as a means to demonstrate their commitment to environmental, social, and governance (ESG) considerations. Voluntary sustainability disclosure has emerged as a crucial channel through which organizations communicate their efforts, initiatives, and impacts in these areas, thereby fostering trust and accountability with stakeholders. The study aims to identify and examine the types of sustainability information disclosed voluntarily by the federal-level statutory bodies, concentrating on the non-financial sections of the annual reports. To achieve this, the study adopts a simplified disclosure index, a pragmatic tool that quantifies the extent of sustainability reporting in a standardized manner. Using convenience sampling, the study selects a sample of annual reports from the federal-level statutory bodies in Malaysia, as provided on their respective websites. The content analysis is centred on the non-financial sections of these reports, allowing for an in-depth exploration of sustainability disclosures. The findings of the study present the extent to which Malaysian federal-level statutory bodies embrace sustainability reporting. Through thorough content analysis, the study uncovered diverse dimensions of sustainability information, encompassing environmental impact assessments, social engagement endeavours, and governance frameworks. This reveals a deliberate effort by these bodies to encapsulate their holistic organizational contributions and challenges, transcending traditional financial metrics. This research contributes to the existing literature by providing insights into the evolving landscape of sustainability disclosure practices among Malaysian federal-level statutory bodies. The findings underline the proactive nature of these bodies in voluntarily sharing sustainability-related information, reflecting their recognition of the interconnectedness between organizational success and societal well-being. Furthermore, the study underscores the potential influence of regulatory guidelines and societal expectations in shaping the extent and nature of voluntary sustainability disclosures. Organizations are not merely responding to regulatory mandates but are actively aligning with global sustainability goals and stakeholder expectations. As organizations continue to navigate the intricate web of stakeholder expectations and sustainability imperatives, this study enriches the discourse surrounding transparency and sustainability reporting. The analysis emphasizes the important role of non-financial disclosures in portraying a holistic organizational narrative. In an era where stakeholders demand accountability, and the interconnectedness of global challenges necessitates collaborative action, the voluntary disclosure of sustainability information stands as a testament to the commitment of Malaysian federal-level statutory bodies in shaping a more sustainable future.

Keywords: voluntary disclosure, sustainability information, annual report, federal-level statutory body

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Authors: Ishaq Ahmad, Zhaomin Li, Liu Chengwen, Song Yan Li, Zihan Gu, Li Shaopeng

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In order to manage gas mobility in the reservoir, only a small amount of surfactant or polymer is needed because nanoparticles have the potential to improve foam stability. The aim is to enhance foam formation and stability, so it was decided to investigate the foam stability and foam ability of black rice husk ash. Several characterization techniques were used to investigate the properties of black rice husk ash. The best-performing anionic foaming surfactants were combined with black rice husk ash at different concentrations (ppm). Sodium dodecyl benzene sulphonate was used as the anionic surfactant. This study demonstrates the value of black rice husk ash (BRHA), which has a high silica concentration, for foam stability and ability. For the test, black rice husk ash and raw ash were used with SDS (Sodium Dodecyl Sulfate) and SDBS (Sodium dodecyl benzenesulfonate) surfactants under different parameters. Different concentration percentages were utilized to create the foam, and the hydrophobic test and shaking method were applied. The foam scanner was used to observe the behavior of the black rice husk ash foam. The high silica content of black rice husk ash has the potential to improve foam stability, which is favorable and could possibly improve oil recovery.

Keywords: black rice husk ash nanoparticle, surfactant, foam life, foam scanning

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Authors: Willian L. G. Silva, Fabio R. M. Batista, Matthieu Tubino

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Microalgae can be considered a potential source of oil for biodiesel synthesis since this microorganism can grow rapidly in either fresh or salty water, not competing with food production. There are several favorable conditions in Brazil for this type of culture due to the country’s great amount of water. Another very positive aspect of this type of culture is its ability to fix atmospheric CO2, contributing to the reduction of greenhouse gases and their effects on global warming. Despite this biodiesel environmental advantages it degrades resulting in changes in its physical and chemical properties. In this work, the methyl and ethyl microalgae biodiesel oxidative stability was studied in the absence and presence of a synthetic antioxidant. The synthetic antioxidants used were propyl gallate (PG) and tert-butylhydroquinone (TBHQ), at a 0,12% (w/w) concentration. The biodiesel mixture was kept in a sealed glass flask, sheltered from light, and at room temperature (about 25 ºC) for 180 days. During this period, aliquots from this biodiesel were subjected to induced degradation by the Rancimat method, which determines an important quality parameter, provided in the current methods, and is used to monitor the degradation processes that occur in the biodiesel over time. The induction period (IP) expresses the biodiesel oxidative stability. It was stablished that the minimum accepted IP value for biodiesel is 8 hours. The results show that ethylic biodiesel increased its IP value from 7,6 hours to 31 hours when using PG, and to 67 hours when using TBHQ, exceeding the minimum accepted IP value. When the antioxidants were added to the methylic biodiesel samples, the IP was raised to 28 hours when using PG, and to 62 hours when using TBHQ. These values were maintained throughout the entire period of study (180 days). On the other hand, the biodiesel samples without additives maintained an IP above the allowed value for only 30 days. Therefore, in order to preserve microalgae biodiesel for longer periods of time, it is necessary to add antioxidants to both derivatives, i.e., the ethylic and methylic.

Keywords: biodiesel, microalgae, oxidative stability, storage, synthetic antioxidants

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Authors: Yichao Liang, Biye Chen, Xiang Li, Steven R. Dimler

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This study investigated the effects of adding calcium and magnesium chloride on heat and storage stability of milk protein concentrate-soy protein isolate (8:2 respectively) mixtures containing 10% w/w total protein subjected to the in-container sterilization (115 °C x 15 min). The particle size does not change when emulsions are heated at pH between 6.7 and 7.3 irrespective of the mixed protein ratio. Increasing concentration of divalent cation salts resulted in an increase in protein particle size, dry sediment formation and sediment height and a decrease in pH, heat stability and hydration in milk protein concentrate-soy protein isolate mixtures solutions on sterilization at 115°C. Fortification of divalent cation salts in milk protein concentrate-soy protein isolate mixture solutions resulted in an accelerated protein sedimentation and two unique sediment regions during accelerated storage stability testing. Moreover, the heat stability decreased upon sterilization at 115°C, with addition of MgCl₂ causing a greater increase in sedimentation velocity and compressibility than CaCl₂. Increasing pH value of protein milk concentrate-soy protein isolate mixtures solutions from 6.7 to 7.2 resulted in an increase in viscosity following the heat treatment. The study demonstrated that the type and concentration of divalent cation salts used strongly impact heat and storage stability of milk protein concentrate-soy protein isolate mixture nutritional beverages.

Keywords: divalent cation salts, heat stability, milk protein concentrate, soy protein isolate, storage stability

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Authors: Hiba Mezaache

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The study aims to assess the financial and social efficiency of microfinance institutions in india for the period 2015-2019 by using two models of economies of scale and choosing the output direction of the data envelope analysis (DEA) method and using the MIX MARKET database. The study concluded that microfinance institutions focus on achieving financial efficiency beyond their focus on achieving social efficiency to ensure their continuity in the market. Convergence in the efficiency ratios that have been achieved, but the optimum ratios have been achieved under the changing economies of scale; Efficiency is affected by the depth of reaching low-income groups, as serving this group raises costs and risks. The importance of lending to women in rural areas and raising their awareness to ensure their financial and social empowerment; Make improvements in operating expenses, asset management, and loan personnel control in order to maximize output.

Keywords: microfinance, financial efficiency, social efficiency, mix market, microfinance institutions

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Authors: Philemon Rakoto

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Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.

Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality

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Authors: Stanley Yap Peng Lok, Chong Wei Ying, Leow Hon Wei, Fatemeh Kimiyaghalam

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Purpose: This paper examines how people treat on the importance of financial planning for their retirement. There is lack of standard instrument that enable us to access the retirement planning behavior. This paper studies the reliability and validity of a proposed scale for accessing this behavior. Design/methodology/approach: The Retirement Planning Behavior scale (RPB) is developed from the results of reviewing different papers on this topic. A total of 900 Malaysians from the age of 18 and above are used as the sample. Findings: Our results show, firstly, the RPB meets all criteria from the instrument reliability and validity which based on the theory of planned behavior. Second, our findings propose two components for this RPB scale; attitude toward planning for retirement and intention towards retirement planning behavior. Practical implication: An effective retirement planning achieves financial independence after the retirement. Our findings have important implications for the scope and significance of the retirement planning behavior measurement, especially for retirees. Originality/value: This study proposes a new approach to cater consumers’ needs for retirement planning. Therefore, consumers are able to achieve financial independence in their retirement age.

Keywords: retirement planning behavior (RPB) scale, reliability, validity, retirement planning, financial independence

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Authors: Mahdi Aghaei, Saeid Jamshidi, Mastaneh Hajipour

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Effective factors on the mechanical wellbore stability are divided in to two categories: 1) Controllable factors, 2) Uncontrollable factors. The purpose of geo-mechanical modeling of wells is to determine the limit of controlled parameters change based on the stress regime at each point and by solving the governing equations the pore-elastic environment around the well. In this research, the mechanical analysis of wellbore stability was carried out for Soroush oilfield. For this purpose, the geo-mechanical model of the field is made using available data. This model provides the necessary parameters for obtaining the distribution of stress around the wellbore. Initially, a basic model was designed to perform various analysis, based on obtained data, using Abaqus software. All of the subsequent sensitivity analysis such as sensitivity analysis on porosity, permeability, etc. was done on the same basic model. The results obtained from these analysis gives various result such as: with the constant geomechanical parameters, and sensitivity analysis on porosity permeability is ineffective. After the most important parameters affecting the wellbore stability and instability are geo-mechanical parameters.

Keywords: wellbore stability, movement, stress, instability

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Authors: Seyed Reza Mirdehghan, Mohammad Reza Haeri Yazdi

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In this paper, the stability and the performance of a two-degree-of-freedom robot under an interaction with a unknown environment has been investigated. The time when the robot returns to its initial position after an interaction and the primary resistance of the robot against the impact must be reduced. Thus, the applied torque on the motor will be reduced. The impedance control is an appropriate method for robot control in these conditions. The stability of the robot at interaction moment was transformed to be a robust stability problem. The dynamic of the unknown environment was modeled as a weight function and the stability of the robot under an interaction with the environment has been investigated using the robust control concept. To improve the performance of the system, a force controller has been designed which the normalized impedance after interaction has been reduced. The resistance of the robot has been considered as a normalized cost function and its value was 0.593. The results has showed reduction of resistance of the robot against impact and the reduction of convergence time by lower than one second.

Keywords: impedance control, control system, robots, interaction

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Authors: Paschal Ohalehi

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Purpose - The purpose of this paper, which is part of a PhD thesis is to examine the role of risk based approach in minimising financial crime in the charity sector as well as offer recommendations to improving the quality of charity regulation whilst still retaining risk based approach as a regulatory framework and also making a case for a new regulatory model. Increase in financial crimes in the charity sector has put the role of regulation in minimising financial crime up for debates amongst researchers and practitioners. Although previous research has addressed the regulation of charities, research on the role of risk based approach to minimising financial crime in the charity sector is limited. Financial crime is a concern for all organisation including charities. Design/methodology/approach - This research adopts a social constructionist’s epistemological position. This research is carried out using semi structured in-depth interviews amongst randomly selected 24 charity trustees divided into three classes: 10 small charities, 10 medium charities and 4 large charities. The researcher also interviewed 4 stakeholders (NFA, Charity Commission and two different police forces in terms of size and area of coverage) in the charity sector. Findings - The results of this research show that reliance on risk based approach to financial crime in the sector is weak and fragmented with the research pointing to a clear evidence of disconnect between the regulator and the regulated leading to little or lack of regulation of trustees’ activities, limited monitoring of charities and lack of training and awareness on financial crime in the sector. Originality – This paper shows how regulation of charities in general and risk based approach in particular can be improved in order to meet the expectations of the stakeholders, the public, the regulator and the regulated.

Keywords: risk, risk based approach, financial crime, fraud, self-regulation

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Authors: Y. Tahat, T. Dunne, S. Fifield, D. Power

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Information about a firm’s usage of Financial Instruments (FIs) plays a very important role in determining its financial position and performance. Yet accounting standard-setters have encountered problems when deciding on the FI-related disclosures which firms must make. The primary objective of this paper is to review the extant literature on FI disclosure. This objective is achieved by surveying the literature on: the corporate usage of FIs; the different accounting standards adopted concerning FIs; and empirical studies on FI disclosure. This review concludes that the current research on FI disclosure has generated a number of useful insights. In particular, the paper reports that: FIs are a very important risk management mechanism in ensuring that companies have the cash available to make value-enhancing investments, however, without a clear set of risk management objectives, using such instruments can be dangerous; accounting standards concerning FIs have resulted in enhanced transparency about the usage of these instruments; and FI-related information is a key input into investors’ decision-making processes. Finally, the paper provides a number of suggestions for future research in the area.

Keywords: financial instruments, financial reporting, accounting standards, value relevance, corporate disclosure

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Authors: Shinji Kajiwara

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The basic ability of a vehicle is the ability to “run”, “turn” and “stop”. The safeness and comfort during a drive on various road surfaces and speed depends on the performance of these basic abilities of the vehicle. Stability and maneuverability of a vehicle is vital in automotive engineering. Stability of a vehicle is the ability of the vehicle to revert back to a stable state during a drive when faced with crosswind and irregular road conditions. Maneuverability of a vehicle is the ability of the vehicle to change direction during a drive swiftly based on the steering of the driver. The stability and maneuverability of a vehicle can also be defined as the driving stability of the vehicle. Since fossil fueled vehicle is the main type of transportation today, the environmental factor in automotive engineering is also vital. By improving the fuel efficiency of the vehicle, the overall carbon emission will be reduced thus reducing the effect of global warming and greenhouse gas on the Earth. Another main focus of the automotive engineering is the safety performance of the vehicle especially with the worrying increase of vehicle collision every day. With better safety performance on a vehicle, every driver will be more confidence driving every day. Next, let us focus on the “turn” ability of a vehicle. By improving this particular ability of the vehicle, the cornering limit of the vehicle can be improved thus increasing the stability and maneuverability factor. In order to improve the cornering limit of the vehicle, a study to find the balance between the steering systems, the stability of the vehicle, higher lateral acceleration and the cornering limit detection must be conducted. The aim of this research is to study and develop a new suspension system that that will boost the lateral acceleration of the vehicle and ultimately improving the cornering limit of the vehicle. This research will also study environmental factor and the stability factor of the new suspension system. The double wishbone suspension system is widely used in four-wheel vehicle especially for high cornering performance sports car and racing car. The double wishbone designs allow the engineer to carefully control the motion of the wheel by controlling such parameters as camber angle, caster angle, toe pattern, roll center height, scrub radius, scuff and more. The development of the new suspension system will focus on the ability of the new suspension system to optimize the camber control and to improve the camber limit during a cornering motion. The research will be carried out using the CAE analysis tool. Using this analysis tool we will develop a JSAE Formula Machine equipped with the double wishbone system and also the new suspension system and conduct simulation and conduct studies on performance of both suspension systems.

Keywords: automobile, camber thrust, cornering force, suspension

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with finding and describing of the effective marketing communication forms relating to the segment 50+ in the financial market in the Czech Republic. The segment 50+ can be seen as a great marketing potential in the future but unfortunately the Czech financial institutions haven´t still reacted enough to this fact and they haven´t prepared appropriate marketing programs for this customers´ segment. Demographic aging is a fundamental characteristic of the current European population evolution but the perspective of further population aging is more noticeable in the Czech Republic. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of marketing communication in the financial market, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing communication approach to selected sub-segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: population aging in the Czech Republic, segment 50+, financial services, marketing communication, marketing research, marketing communication approach

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Authors: TranThi Ly, Ligang Yang, Hechun Liu, Dengfeng Xu, Haiteng Zhou, Shaokang Wang, Shiqing Chen, Guiju Sun

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This study aims to evaluate the oxidative stability of Chinese vegetable oils during repeated deep-frying. For frying media, palm oil (PO), sunflower oil (SFO), soybean oil (SBO), and canola oil (CO) were used. French fries were fried in oils heated to 180 ± 50℃. The temperature was kept constant during the eight h of the frying process. The oil quality was measured according to the fatty acid (FA) content, trans fatty acid (TFA) compounds, and chemical properties such as peroxide value (PV), acid value (AV), anisidine value (AnV), and malondialdehyde (MDA). Additionally, the sensory characteristics such as color, flavor, greasiness, crispiness, and overall acceptability of the French fries were assessed. Results showed that the PV, AV, AnV, MDA, and TFA content of SFO, CO, and SBO significantly increased in conjunction with prolonged frying time. During the deep-frying process, the SBO showed the lowest oxidative stability at all indices, while PO retained oxidative stability and generated the lowest level of TFA. The French fries fried in PO also offered better sensory properties than the other oils. Therefore, results regarding oxidative stability and sensory attributes suggested that among the examined vegetable oils, PO appeared to be the best oil for frying food products.

Keywords: vegetable oils, French fries, oxidative stability, sensory properties, frying oil

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Authors: Anuar Ishak

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The characteristics of fluid flow and heat transfer over a permeable shrinking sheet is studied. The governing partial differential equations are transformed into a set of ordinary differential equations, which are then solved numerically using MATLAB routine boundary value problem solver bvp4c. Numerical results show that dual solutions are possible for a certain range of the suction parameter. A stability analysis is performed to determine which solution is linearly stable and physically realizable.

Keywords: dual solutions, heat transfer, shrinking sheet, stability analysis

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Authors: Guettal Djaouida, Ziadi Abdelkader

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In this paper, we study a coupling of the Alienor method with the algorithm of Piyavskii-Shubert. The classical multidimensional global optimization methods involves great difficulties for their implementation to high dimensions. The Alienor method allows to transform a multivariable function into a function of a single variable for which it is possible to use efficient and rapid method for calculating the the global optimum. This simplification is based on the using of a reducing transformation called Alienor.

Keywords: global optimization, reducing transformation, α-dense curves, Alienor method, Piyavskii-Shubert algorithm

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Authors: Alaa A. Ghanem, S. E. M. Desouky

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Natural gas (NG) is considered one of the most essential global energy sources. NG fields are often far away from the market, and a long-distance transporting pipeline usually is required. Production of NG with high content of CO₂ leads to severe problems such as equipment corrosion along with the production line until refinery.in addition to a high level of toxicity and decreasing in calorific value of the NG. So it is recommended to remove or decrease the CO₂ percent to meet transport specifications. This can be reached using different removal techniques such as physical and chemical absorption, pressure swing adsorption, membrane separation, or low-temperature separation. Many solvents and chemicals are being used to capture carbon dioxide on a large scale; among them, Ionic liquids have great potential due to their tunable properties; low vapour pressure, low melting point, and sensible thermal stability. In this research, three modifiedimidazolium ionic liquids will be synthesized and characterized using different tools of analysis such as FT-IR, 1H NMR. Thermal stability and surface activity will be studied. The synthesized compounds will be evaluated as selective solvents for CO₂ removal from natural gas using PVT cell.

Keywords: natural gas, CO₂ capture, imidazolium ionic liquid, PVT cell

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Authors: Kerem Ok, Serafettin Senturk, Serdar Aktas, Cem Cevikbas

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Mobile technology is very popular nowadays and it provides a digital world where users can experience many value-added services. Service Providers are also eager to offer diverse value-added services to users such as digital identity, mobile financial services and so on. In this context, the security of data storage in smartphones and the security of communication between the smartphone and service provider are critical for the success of these services. In order to provide the required security functions, the SIM card is one acceptable alternative. Since SIM cards include a Secure Element, they are able to store sensitive data, create cryptographically secure keys, encrypt and decrypt data. In this paper, we design and implement a SIM and a smartphone framework that uses a SIM card for secure key generation, key storage, data encryption, data decryption and digital signing for mobile financial services. Our frameworks show that the SIM card can be used as a controlled Secure Element to provide required security functions for popular e-services such as mobile financial services.

Keywords: SIM card, mobile financial services, cryptography, secure data storage

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Authors: Taoufik Benchelha, Toufik Remmal, Rachid El Hamdouni, Hamou Mansouri, Houssein Ejjaouani, Halima Jounaid, Said Benchelha

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During the earthworks for the construction of Marrakech-Agadir highway in southern Morocco, which crosses mountainous areas of the High Western Atlas, the main problem faced is the stability of the slopes. Indeed, the use of explosives as a means of excavation associated with the geological structure of the terrain encountered can trigger major ruptures and cause damage which depends on the intrinsic characteristics of the rock mass. The study consists of a geological and geotechnical analysis of several unstable zones located along the route, mobilizing millions of cubic meters of rock, with deduction of the parameters influencing slope stability. From this analysis, a predictive model for rock mass stability is carried out, based on a statistic method of logistic regression, in order to predict the geomechanical behavior of the rock slopes constrained by earthworks.

Keywords: explosive, logistic regression, rock mass, slope stability

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Authors: Expedito J. S. Parente Jr., Italo C. Rios, Joao Paulo C. Marques, Rosana M. A. Saboya, F. Murilo T. Luna, Célio L. Cavalcante Jr.

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Increasing constraints of environmental regulation around the world have led to higher demand for biodegradable products. Vegetable oils present some properties that may favor their use as biolubricants; however, there are others, such as resistance to oxidation and pour point, which affect possible commercial applications. In this study, the physicochemical properties of biolubricants synthesized from different vegetable oils were evaluated and compared with petroleum-based lubricant and pure vegetable oil. Chemical modifications applied to the original vegetable oil improved their oxidative stability and pour point significantly. The addition of commercial antioxidants to the bio-based lubricants was evaluated, yielding values of oxidative stability close to those of mineral basestock oil.

Keywords: biolubricant, vegetable oil, oxidative stability, pour point, antioxidants

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Authors: Praveen Battula

Abstract:

Any high performance car has the tendency to over steer and Understeer under slippery conditions, An Electronic Stability Control System is needed under these conditions to regulate the steering of the car. It uses Anti-Lock Braking System (ABS) and Traction Control and Wheel Speed Sensor, Steering Angle Sensor, Rotational Speed Sensors to correct the problems. The focus of this paper is to improve the driving dynamics and safety by controlling the forces applied on each wheel. ESC Control the Yaw Stability, traction controls the Roll Stability, where actually the vehicle slip rate and lateral acceleration is controlled. ESC uses differential braking on all four brakes independently to control the vehicle’s motion. A mathematical model is developed in Simulink for the FlexRay based Electronic Stability Control. Vehicle steering is developed using Neuro Fuzzy Logic Controller. 7 Degrees of Freedom Vehicle Model is used as a Plant Model using dSpace autobox. The Performance of the system is assessed using two different road Scenarios, Vehicle Control under standard maneuvering conditions. The entire system is set using Dspace Control Desk. Results are provided by comparison of how a Vehicle with and without Electronic Stability Control which shows an improved performance in control.

Keywords: ESC, flexray, chassis control, steering, neuro fuzzy, vehicle dynamics

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Authors: Giorgi Methodishvili, Iuliia Methodishvili

Abstract:

In this paper product development algorithm is used to determine the optimal management of financial resources in company. Aspects of financial management considered include put initial investment, examine all possible ways to solve the problem and the optimal rotation length of profit. The software of given problems is based using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Elizabeth Snyman-Van Deventer

Abstract:

Numerous corporate scandals, which included investment scams, corporate malfeasance, unethical conduct and conflicts of interest, contributed to the collapse of WorldCom, Global Crossing, Xerox, Tyco, Enron, Sprint, AbbVie and Imclone and led to alarmed investors abandoning public securities markets and the tumbling of U.S stock markets. These companies suffered significant financial losses due to substantial and fraudulent misstatements and other illegal, corrupt or unethical practices. Executives were convicted of fraud and sentenced to prison. The corporate financial scandals, governance failures, and the ensuing public outcries led to mandatory legislation, e.g. the Sarbanes-Oxley Act in the USA. In European corporate scandals such as Parmalat, Royal Dutch Ahold, Vivendi, Adecco and Elan, the boards missed financial misrepresentations. In South Africa, Steinhoff is the most well-known example of corporate collapse, but now we can also add Tongaat Hulett. It seems as if fraud and corruption may be the major sources of these corporate collapses. In most instances, there is either the active involvement of the directors and managers in these fraudulent or corrupt practices, or there is a negligent or even intentional failure to act by directors to prevent these activities. However, besides directors and managers, auditors and lawyers failed in most of these companies to fulfil their professional duties. In most of these major collapses, the ethics of especially auditors and directors could be questioned. This paper will first provide a brief overview of corporate collapses. Secondly, the reasons for these collapses, with a focus on unethical conduct, will be discussed.

Keywords: professional duties, corporate collapses, ethical conduct, legal ethics, directors, auditors

Procedia PDF Downloads 38