Search results for: initial cost

Authors: Jong Woo Kim, Go Bong Choi, Sang Hwan Son, Dae Shik Kim, Jung Chul Suh, Jong Min Lee

Abstract:

The Markov Decision Process (MDP) based methodology is implemented in order to establish the optimal schedule which minimizes the cost. Formulation of MDP problem is presented using the information about the current state of pipe, improvement cost, failure cost and pipe deterioration model. The objective function and detailed algorithm of dynamic programming (DP) are modified due to the difficulty of implementing the conventional DP approaches. The optimal schedule derived from suggested model is compared to several policies via Monte Carlo simulation. Validity of the solution and improvement in computational time are proved.

Keywords: Markov decision processes, dynamic programming, Monte Carlo simulation, periodic replacement, Weibull distribution

Procedia PDF Downloads 398

Authors: Sultan Alharby, Nick Harris, Alex Weddell, Jeff Reeve

Abstract:

The concept of the Internet of Things (IoT) has received much attention over the last five years. It is predicted that the IoT will influence every aspect of our lifestyles in the near future. Wireless Sensor Networks are one of the key enablers of the operation of IoTs, allowing data to be collected from the surrounding environment. However, due to limited resources, nature of deployment and unattended operation, a WSN is vulnerable to various types of attack. Security is paramount for reliable and safe communication between IoT embedded devices, but it does, however, come at a cost to resources. Nodes are usually equipped with small batteries, which makes energy conservation crucial to IoT devices. Nevertheless, security cost in terms of energy consumption has not been studied sufficiently. Previous research has used a security specification of 802.15.4 for IoT applications, but the energy cost of each security level and the impact on quality of services (QoS) parameters remain unknown. This research focuses on the cost of security at the IoT media access control (MAC) layer. It begins by studying the energy consumption of IEEE 802.15.4 security levels, which is followed by an evaluation for the impact of security on data latency and throughput, and then presents the impact of transmission power on security overhead, and finally shows the effects of security on memory footprint. The results show that security overhead in terms of energy consumption with a payload of 24 bytes fluctuates between 31.5% at minimum level over non-secure packets and 60.4% at the top security level of 802.15.4 security specification. Also, it shows that security cost has less impact at longer packet lengths, and more with smaller packet size. In addition, the results depicts a significant impact on data latency and throughput. Overall, maximum authentication length decreases throughput by almost 53%, and encryption and authentication together by almost 62%.

Keywords: energy consumption, IEEE 802.15.4, IoT security, security cost evaluation

Procedia PDF Downloads 143

Authors: Maria Klitgaard Christensen, Carmen Lim, Sukanta Saha, Danielle Cannon, Finley Prentis, Oleguer Plana-Ripoll, Natalie Momen, Kim Moesgaard Iburg, John J. McGrath

Abstract:

Introduction: About a third of the world’s population will develop a mental disorder over their lifetime. Having a mental disorder is a huge burden in health loss and cost for the individual, but also for society because of treatment cost, production loss and caregivers’ cost. The objective of this study is to synthesize the international published literature on the economic burden of mental disorders. Methods: Systematic literature searches were conducted in the databases PubMed, Embase, Web of Science, EconLit, NHS York Database and PsychInfo using key terms for cost and mental disorders. Searches were restricted to 1980 until May 2019. The inclusion criteria were: (1) cost-of-illness studies or cost-analyses, (2) diagnosis of at least one mental disorder, (3) samples based on the general population, and (4) outcome in monetary units. 13,640 publications were screened by their title/abstract and 439 articles were full-text screened by at least two independent reviewers. 112 articles were included from the systematic searches and 31 articles from snowball searching, giving a total of 143 included articles. Results: Information about diagnosis, diagnostic criteria, sample size, age, sex, data sources, study perspective, study period, costing approach, cost categories, discount rate and production loss method and cost unit was extracted. The vast majority of the included studies were from Western countries and only a few from Africa and South America. The disorder group most often investigated was mood disorders, followed by schizophrenia and neurotic disorders. The disorder group least examined was intellectual disabilities, followed by eating disorders. The preliminary results show a substantial variety in the used perspective, methodology, costs components and outcomes in the included studies. An online tool is under development enabling the reader to explore the published information on costs by type of mental disorder, subgroups, country, methodology, and study quality. Discussion: This is the first systematic review synthesizing the economic cost of mental disorders worldwide. The paper will provide an important and comprehensive overview over the economic burden of mental disorders, and the output from this review will inform policymaking.

Keywords: cost-of-illness, health economics, mental disorders, systematic review

Procedia PDF Downloads 106

Authors: Kavish Kejriwal, Richa Grover

Abstract:

Consumer awareness and pending legislation have pushed environmental issues into the spotlight, making it imperative for organizations to have a plan of action for “going green.” This is the reason why Green Supply Chain Management has become the integral part of many organization with a goal to reduce cost, increase efficiency and be environmental friendly. Implementation of GSCM involves many factors which act as barriers, making it a tedious task. These barriers have different relationship among themselves creating different impact on implementation Green Supply Chain Management. This work focuses on determining those barriers which have essentially to be removed in the initial stages of GSCM adoption. In this work, the author has taken the case of a petroleum industry in order to come up with a solution. A DEMATEL approach is used to reach the solution.

Keywords: barriers, environment, green supply chain management, impact, interpretive structural modeling

Procedia PDF Downloads 253

Authors: Dessy Arumsari, Ais Assana Athqiya, Mulyaminingrum

Abstract:

Healthcare in remote areas is one of the major concerns in Indonesia. Building hospitals in a nation of 18.000 islands with a larger-than-life bureaucracy and problems with corruption, a critical shortage of qualified medical professionals and well-heeled patients resigned to traveling abroad for health care is a hard feat to accomplish. To assuring that all populations have access to appropriate and cost-effective care, a new solution to tackle this problem is with the presence of RV Car Clinic. This car has a concept such as a walking hospital that provides health facilities inside it. All of the health professionals who work in RV Car Clinic will do the rotation for a year in order to the equitable distribution of health workers. We need to advocate the policy makers to help realize RV Car Clinic in remote areas. Health services can be disseminated by the present of RV Car Clinic. Summarily, the local communities can get cost effectively because RV Car Clinic will come to their place and serve the health services.

Keywords: health policy, health professional, remote areas, RV Car Clinic

Procedia PDF Downloads 267

Authors: Chang Li-Yu

Abstract:

Purposes: The present research focuses on exploring the latent growth model of psychological capital in disadvantaged adolescents and assessing its relationship with subjective well-being. Methods: Longitudinal study design was utilized and the data was from Taiwan Database of Children and Youth in Poverty (TDCYP), using the student questionnaires from 2009, 2011, and 2013. Data analysis was conducted using both univariate and multivariate latent growth curve models. Results: This study finds that: (1) The initial state and growth rate of individual factors such as parent-child relationships, psychological capital, and subjective wellbeing in economically disadvantaged adolescents have a predictive impact; (2) There are positive interactive effects in the development among factors like parentchild relationships, psychological capital, and subjective well-being in economically disadvantaged adolescents; and (3) The initial state and growth rate of parent-child relationships and psychological capital in economically disadvantaged adolescents positively affect the initial state and growth rate of their subjective well-being. Recommendations: Based on these findings, this study concretely discusses the significance of psychological capital and family cohesion for the mental health of economically disadvantaged youth and offers suggestions for counseling, psychological therapy, and future research.

Keywords: economically disadvantaged adolescents, psychological capital, parent-child relationships, subjective well-beings

Procedia PDF Downloads 28

Authors: Ruixia Liu

Abstract:

Qinghai-Tibet Plateau has an important influence on the precipitation of its lower reaches. Data from remote sensing has itself advantage and numerical prediction model which assimilates RS data will be better than other. We got the assimilation data of MHS and terrestrial and sounding from GSI, and introduced the result into WRF, then got the result of RH and precipitation forecast. We found that assimilating MHS and terrestrial and sounding made the forecast on precipitation, area and the center of the precipitation more accurate by comparing the result of 1h,6h,12h, and 24h. Analyzing the difference of the initial field, we knew that the data assimilating about Qinghai-Tibet Plateau influence its lower reaches forecast by affecting on initial temperature and RH.

Keywords: Qinghai-Tibet Plateau, precipitation, data assimilation, GSI

Procedia PDF Downloads 215

Authors: Seyedeh-Fariba Jahanbin, Hasan Yusefzadeh, Bahram Nabilou, Cyrus Alinia, Cyrus Alinia

Abstract:

Background: Due to the lack of a constant Willingness to Pay per one additional Quality Adjusted Life Years gained based on the preferences of Iran’s general public, the cost-efectiveness of health system interventions is unclear and making it challenging to apply economic evaluation to health resources priority setting. Methods: We have measured this cost-efectiveness threshold with the participation of 2854 individuals from fve provinces, each representing an income quintile, using a modifed Time Trade-Of-based Chained-Approach. In this online-based empirical survey, to extract the health utility value, participants were randomly assigned to one of two green (21121) and yellow (22222) health scenarios designed based on the earlier validated EQ-5D-3L questionnaire. Results: Across the two health state versions, mean values for one QALY gain (rounded) ranged from $6740-$7400 and $6480-$7120, respectively, for aggregate and trimmed models, which are equivalent to 1.35-1.18 times of the GDP per capita. Log-linear Multivariate OLS regression analysis confrmed that respondents were more likely to pay if their income, disutility, and education level were higher than their counterparts. Conclusions: In the health system of Iran, any intervention that is with the incremental cost-efectiveness ratio, equal to and less than 7402.12 USD, will be considered cost-efective.

Keywords: willingness to Pay, QALY, chained-approach, cost-efectiveness threshold, Iran

Procedia PDF Downloads 63

Authors: Norhayati Mohd Rasip, Abd. Samad Hasan Basari , Nuzulha Khilwani Ibrahim, Burairah Hussin

Abstract:

The allocation of working schedule especially for shift environment is hard to fulfill its fairness among them. In the case of nurse scheduling, to set up the working time table for them is time consuming and complicated, which consider many factors including rules, regulation and human factor. The scenario is more complicated since most nurses are women which have personnel constraints and maternity leave factors. The undesirable schedule can affect the nurse productivity, social life and the absenteeism can significantly as well affect patient's life. This paper aimed to enhance the scheduling process by utilizing the particle swarm optimization in order to solve nurse scheduling problem. The result shows that the generated multiple initial schedule is fulfilled the requirements and produces the lowest cost of constraint violation.

Keywords: nurse scheduling, particle swarm optimisation, nurse rostering, hard and soft constraint

Procedia PDF Downloads 346

Authors: Chukwuma Anya, Mekwa Eme

Abstract:

Foundation is popularly defined as the lowest load-bearing part of a building, typically below the ground level. It serves as an underlying base which acts as the principle on which every building stands. There are various types of foundations in practice, which includes the strip, pile, pad, and raft foundations, and each of these have their various applications in building construction. However due to lack of professional knowledge, cost, or scheduled time frame to complete a certain project, some of these foundation types are some times neglected or used interchangeably, resulting to misuse or abuse of the building materials man, power, and some times altering the stability, balance and aesthetics of most buildings. This research work is aimed at educating the academic community on the proper application of the various foundation types to suit different environments such as the rain forest, desert, swampy area, rocky area etc. A proper application of the foundation will ensure the safety of the building from acid grounds, damping and weakening of foundation, even building settlement and stability. In addition to those, it will improve aesthetics, maintain cost effectiveness both construction cost and maintenance cost. Finally it will ensure the safety of the building and its inhabitants. At the end of this research work we will be able to differentiate the various foundation types and there proper application in the design and construction of buildings.

Keywords: foundation, application, stability, aesthetics

Procedia PDF Downloads 47

Authors: Nagia Ali, R. S. R. El-Mohamedy

Abstract:

The purpose of this paper is to irradiate the dyes biologically through the use of Moreinga oleifera. The study confirms the potential use of Moringa oleifera in decolourization of dyes and thus opens up a scope for future analysis pertaining to its performance in treatment of textile effluent. In this paper, the ability of natural products in removing dyes was tested using two reactive dyes and one acid dye. After a preliminary screening for dye removal capacity, a vegetal protein extract derived from Moeringa oleifera seed was fully studied. The influences of several parameters such as pH, temperature or initial dye concentration were tested and the behavior of coagulants was compared. It was found that dye removal decreased as pH increased. Temperature did not seem to have a considerable effect, while initial dye concentration appeared to be a very important variable.

Keywords: Moreinga oleifera, decolourization, waste water, reactive dyes, acid dyes

Procedia PDF Downloads 337

Authors: Igor Luiz Bernardes de Moura, Luan Carlos de Sena Monteiro Ozelim, Fabiano Araujo Soares

Abstract:

The development of a low cost acquisition system of S-EMG signals which are reliable, comfortable for the user and with high mobility shows to be a relevant proposition in modern biomedical engineering scenario. In the study, the sampling capacity of the Arduino microcontroller Atmel Atmega328 with an A/D converter with 10-bit resolution and its reconstructing capability of a signal of surface electromyography are analyzed. An electronic circuit to capture the signal through two differential channels was designed, signals from Biceps Brachialis of a healthy man of 21 years was acquired to test the system prototype. ARV, MDF, MNF and RMS estimators were used to compare de acquired signals with physiological values. The Arduino was configured with a sampling frequency of 1.5 kHz for each channel, and the tests with the circuit designed offered a SNR of 20.57dB.

Keywords: electromyography, Arduino, low-cost, atmel atmega328 microcontroller

Procedia PDF Downloads 339

Authors: Jaime Pizarro, Ximena Castillo

Abstract:

The intensive use of water in agriculture, industry, human consumption and increasing pollution are factors that reduce the availability of water for future generations; the challenge is to advance in sustainable and low-cost solutions to reuse water and to facilitate the availability of the resource in quality and quantity. The use of new low-cost materials with sorbent capacity for pollutants is a solution that contributes to the improvement and expansion of water treatment and reuse systems. Fly ash, a residue from the combustion of coal in power plants that is produced in large quantities in newly industrialized countries, contains a high amount of silicon oxides and aluminum oxides, whose properties can be used for the synthesis of mesoporous materials. Properly functionalized, this material allows obtaining matrixes with high sorption capacity. The mesoporous materials have a large surface area, thermal and mechanical stability, uniform porous structure, and high sorption and functionalization capacities. The goal of this study was to develop hexagonal mesoporous siliceous material (HMS) for the adsorption of sulphate from industrial and mining waters. The silica was extracted from fly ash after calcination at 850 ° C, followed by the addition of water. The mesoporous structure has a surface area of 282 m2 g-1 and a size of 5.7 nm and was functionalized with ethylene diamine through of a self-assembly method. The material was characterized by Diffuse Reflectance Infrared Fourier Transform Spectroscopy (DRIFTS). The capacity of sulphate sorption was evaluated according to pH, maximum load capacity and contact time. The sulphate maximum adsorption capacity was 146.1 mg g-1, which is three times higher than commercial sorbents. The kinetic data were fitted according to a pseudo-second order model with a high coefficient of linear regression at different initial concentrations. The adsorption isotherm that best fitted the experimental data was the Freundlich model.

Keywords: fly ash, mesoporous siliceous, sorption, sulphate

Procedia PDF Downloads 136

Authors: Olusola Ezekiel Abolarin, Gift E. Noah

Abstract:

This research work considered an innovative procedure to numerically approximate higher-order Initial value problems (IVP) of ordinary differential equations (ODE) using the Legendre polynomial as the basis function. The proposed method is a half-step, self-starting Block integrator employed to approximate fourth and fifth order IVPs without reduction to lower order. The method was developed through a collocation and interpolation approach. The basic properties of the method, such as convergence, consistency and stability, were well investigated. Several test problems were considered, and the results compared favorably with both exact solutions and other existing methods.

Keywords: initial value problem, ordinary differential equation, implicit off-grid block method, collocation, interpolation

Procedia PDF Downloads 53

Authors: Ferdi Sönmez, Nihal Yorulmaz

Abstract:

Decision making on the true planning of the public transportation systems to serve potential users is a must for metropolitan areas. To take attraction of travelers to projected modes of transport, adequately fair overall travel times should be provided. In this fashion, other benefits such as lower traffic congestion, road safety and lower noise and atmospheric pollution may be earned. The congestion which comes with increasing demand of public transportation is becoming a part of our lives and making residents’ life difficult. Hence, regulations should be done to reduce this congestion. To provide a constructive and balanced regulation in public transportation systems, right stations should be located in right places. In this study, it is aimed to design and implement a Decision Support System (DSS) Application to determine the optimal bus stop places for public transport in Istanbul which is one of the biggest and oldest cities in the world. Required information is gathered from IETT (Istanbul Electricity, Tram and Tunnel) Enterprises which manages all public transportation services in Istanbul Metropolitan Area. By using the most real-like values, cost assignments are made. The cost is calculated with the help of equations produced by bi-level optimization model. For this study, 300 buses, 300 drivers, 10 lines and 110 stops are used. The user cost of each station and the operator cost taken place in lines are calculated. Some components like cost, security and noise pollution are considered as significant factors affecting the solution of set covering problem which is mentioned for identifying and locating the minimum number of possible bus stops. Preliminary research and model development for this study refers to previously published article of the corresponding author. Model results are represented with the intent of decision support to the specialists on locating stops effectively.

Keywords: operator cost, bi-level optimization model, user cost, urban transportation

Procedia PDF Downloads 219

Authors: Abderrahmane Diaf, Assia Cherfa, Lamia Karadaniz

Abstract:

Multiple tray solar distillation offers an interesting alternative for small-scale desalination and production high quality distilled water at a competitive cost using solar energy. In this work, we present indoor/outdoor trial performance data of our multiple tray solar distillation as well as the results of cost estimation analysis.

Keywords: solar desalination, tray distillation, multi-étages solaire, solar distillation

Procedia PDF Downloads 397

Authors: Umair Ahmed, Muhammad Bin Irfan

Abstract:

This study focuses on designing and optimization of an alkaline water electrolyser for the production of green hydrogen. The aim is to enhance the durability and efficiency of this technology while simultaneously reducing the cost associated with the production of green hydrogen. The experimental results obtained from the alkaline water electrolyser are compared with simulated results using Aspen Plus software, allowing a comprehensive analysis and evaluation. To achieve the aforementioned goals, several design and operational parameters are investigated. The electrode material, electrolyte concentration, and operating conditions are carefully selected to maximize the efficiency and durability of the electrolyser. Additionally, cost-effective materials and manufacturing techniques are explored to decrease the overall production cost of green hydrogen. The experimental setup includes a carefully designed alkaline water electrolyser, where various performance parameters (such as hydrogen production rate, current density, and voltage) are measured. These experimental results are then compared with simulated data obtained using Aspen Plus software. The simulation model is developed based on fundamental principles and validated against the experimental data. The comparison between experimental and simulated results provides valuable insight into the performance of an alkaline water electrolyser. It helps to identify the areas where improvements can be made, both in terms of design and operation, to enhance the durability and efficiency of the system. Furthermore, the simulation results allow cost analysis providing an estimate of the overall production cost of green hydrogen. This study aims to develop a comprehensive understanding of alkaline water electrolysis technology. The findings of this research can contribute to the development of more efficient and durable electrolyser technology while reducing the cost associated with this technology. Ultimately, these advancements can pave the way for a more sustainable and economically viable hydrogen economy.

Keywords: sustainable development, green energy, green hydrogen, electrolysis technology

Procedia PDF Downloads 57

Authors: Ahmed K. Sharaby, Ahmed S. El-Gendy

Abstract:

Phenolic compounds (PCs) exist in the wastewater effluents of some industries such as oil refinery, pharmaceutical and cosmetics. Phenolic compounds are extremely hazardous pollutants that can cause severe problems to the aquatic life and human beings if disposed of without treatment. One of the most efficient treatment methods of PCs is photocatalytic degradation. The current work studies the performance of composite nanomaterial of titanium dioxide with magnetite as a photo-catalyst in the degradation of PCs. The current work aims at optimizing the synthesized photocatalyst dosage and contact time as part of the operational parameters at different initial concentrations of PCs and pH values in the wastewater. The study was performed in a lab-scale batch reactor under fixed conditions of light intensity and aeration rate. The initial concentrations of PCs and the pH values were in the range of (10-200 mg/l) and (3-9), respectively. Results of the study indicate that the dosage of the catalyst and contact time for total mineralization is proportional to the initial concentrations of PCs, while the optimum pH conditions for highly efficient degradation is at pH 3. Exceeding the concentration levels of the catalyst beyond certain limits leads to the decrease in the degradation efficiency due to the dissipation of light. The performance of the catalyst for degradation was also investigated in comparison to the pure TiO2 Degussa (P-25). The dosage required for the synthesized catalyst for photocatalytic degradation was approximately 1.5 times that needed from the pure titania.

Keywords: industrial, optimization, phenolic compounds, photocatalysis, wastewater

Procedia PDF Downloads 296

Authors: Soofia Malik

Abstract:

The purpose of this study is to develop an instrument to measure undergraduate students’ attitudes toward mathematics (MAT) and to assess the data collected from the instrument for validity and reliability. The instrument is developed using five subscales: anxiety, enjoyment, self-confidence, value, and technology. The technology dimension is added as the fifth subscale of attitude toward mathematics because of the recent trend of incorporating online homework in mathematics courses as well as due to heavy reliance of higher education on using online learning management systems, such as Blackboard and Moodle. The sample consists of 163 (M = 82, F = 81) undergraduates enrolled in College Algebra course in the summer 2017 semester at a university in the USA. The data is analyzed to answer the research question: if and how do undergraduate students’ attitudes toward mathematics load using Principal Components Analysis (PCA)? As a result of PCA, three subscales emerged namely: anxiety/self-confidence scale, enjoyment, and value scale. After deleting the last five items or the last two subscales from the initial MAT scale, the Cronbach’s alpha was recalculated using the scores from 20 items and was found to be α = .95. It is important to note that the reliability of the initial MAT form was α = .93. This means that employing the final MAT survey form would yield consistent results in repeated uses. The final MAT form is, therefore, more reliable as compared to the initial MAT form.

Keywords: college algebra, Cronbach's alpha reliability coefficient, Principal Components Analysis, PCA, technology in mathematics

Procedia PDF Downloads 105

Authors: Murat Toren, Mehmet Çelebi

Abstract:

Reducing the weight of transformers while providing good performance, cost reduction and increased efficiency is important. Weight is one of the most significant factors in all electrical machines, and as such, many transformer design parameters are related to weight calculations. This study presents a comparison of the weight of oil type transformers and dry type transformer weight. Oil type transformers are mainly used in industry; however, dry type transformers are becoming more widespread in recent years. MATLAB is typically used for designing transformers and design parameters (rated voltages, core loss, etc.) along with design in ANSYS Maxwell. Similar to other studies, this study presented that the dry type transformer option is limited. Moreover, the commonly-used 50 kVA distribution transformers in the industry are oil type and dry type transformers are designed and considered in terms of weight. Currently, the preference for low-cost oil-type transformers would change if costs for dry-type transformer were more competitive. The aim of this study was to compare the weight of transformers, which is a substantial cost factor, and to provide an evaluation about increasing the use of dry type transformers.

Keywords: weight, optimization, oil-type transformers, dry-type transformers

Procedia PDF Downloads 323

Authors: Padmanabhan D, Kavitha S

Abstract:

The purpose of the study is to investigate arsenic resistance ability of indigenous microflora and its ability to utilize arsenic species form containing water source. PS-6 potential arsenic tolerance bacterium was screened from thirty isolates from Pichavaram Mangroves of India having tolerance to grow up to 1000 mg/l of As (V) and 800 mg/l of As (III) and arsenic utilization ability of 98 % of As (V) and 97% of As (III) with initial concentration of 3-5 mg/l within 48 hrs. Optimum pH and temperature was found to be ~7-7.4 and 37°C. Active growth of PS-6 in minimal salt media (MSB) helps in cost effective biomass production. Dry weight analysis of PS-6 has shown significant difference in biomass when exposed to As (III) and As (V). Protein level study of PS-6 after exposing to As (V) and As (III) shown modification in total protein concentration and variation in SDS-PAGE pattern. PS-6 was identified as Bacillus licheniformis based on partially sequenced of 16S rRNA using NCBI Blast. Further investigation will help in using this potential bacterium as a well-grounded source for urgency.

Keywords: arsenite, arsenate, Bacillus licheniformis, utilization

Procedia PDF Downloads 379

Authors: Nithi Sermsiriviboon, Somchai Supattarakul

Abstract:

Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

Procedia PDF Downloads 211

Authors: Gideon J. Bonthuys, Marco van Dijk, Jay N. Bhagwan

Abstract:

Small scale hydropower used to play a very important role in the provision of energy to urban and rural areas of South Africa. The national electricity grid, however, expanded and offered cheap, coal generated electricity and a large number of hydropower systems were decommissioned. Unfortunately, large numbers of households and communities will not be connected to the national electricity grid for the foreseeable future due to high cost of transmission and distribution systems to remote communities due to the relatively low electricity demand within rural communities and the allocation of current expenditure on upgrading and constructing of new coal fired power stations. This necessitates the development of feasible alternative power generation technologies. A feasibility and implementation model was developed to assist in designing and financially evaluating small-scale hydropower (SSHP) plants. Several sites were identified using the model. The SSHP plants were designed for the selected sites and the designs for the different selected sites were priced using pricing models (civil, mechanical and electrical aspects). Following feasibility studies done on the designed and priced SSHP plants, a feasibility analysis was done and a design chart developed for future similar potential SSHP plant projects. The methodology followed in conducting the feasibility analysis for other potential sites consisted of developing cost and income/saving formulae, developing net present value (NPV) formulae, Capital Cost Comparison Ratio (CCCR) and levelised cost formulae for SSHP projects for the different types of plant installations. It included setting up a model for the development of a design chart for a SSHP, calculating the NPV, CCCR and levelised cost for the different scenarios within the model by varying different parameters within the developed formulae, setting up the design chart for the different scenarios within the model and analyzing and interpreting results. From the interpretation of the develop design charts for feasible SSHP in can be seen that turbine and distribution line cost are the major influences on the cost and feasibility of SSHP. High head, short transmission line and islanded mini-grid SSHP installations are the most feasible and that the levelised cost of SSHP is high for low power generation sites. The main conclusion from the study is that the levelised cost of SSHP projects indicate that the cost of SSHP for low energy generation is high compared to the levelised cost of grid connected electricity supply; however, the remoteness of SSHP for rural electrification and the cost of infrastructure to connect remote rural communities to the local or national electricity grid provides a low CCCR and renders SSHP for rural electrification feasible on this basis.

Keywords: cost, feasibility, rural electrification, small-scale hydropower

Procedia PDF Downloads 201

Authors: Shahul Hamid Khan, S. Santhosh, Abhinav Kumar Sharma

Abstract:

Environmental performance along with social performance is becoming vital factors for industries to achieve global standards. With a good environmental policy global industries are differentiating them from their competitors. This paper concentrates on multi stage, multi product and multi period manufacturing network. Bi-objective mathematical models for total cost and total emission for the entire forward supply chain are considered. Here five different problems are considered by varying the number of suppliers, manufacturers, and environmental levels, for illustrating the taken mathematical model. GA, and Random search are used for finding the optimal solution. The input parameters of the optimal solution are used to find the tradeoff between the initial investment by the industry and the long term benefit of the environment.

Keywords: closed loop supply chain, genetic algorithm, random search, green supply chain

Procedia PDF Downloads 526

Authors: Leonardo Ko

Abstract:

In an era marked by rapid technological innovation, the classical instrument industry nonetheless has not seen significant change. Is this a matter of stubborn traditionalism, or do old, conventional instruments really sound better? Because of the widespread use of 3-D printing, it seems feasible to produce modern, 3-D printed instruments that adhere to the basic conventions of standard construction. This study aimed to design and create a practical, effective 3-D printed acoustic violin. A cost-benefit analysis of materials and design is presented in addition to a report on sound tests in which a pool of professional musicians compared the traditional violin to its synthetic counterpart with regard to acoustic properties. With a low-cost yet functional instrument, musicians of all levels would be able to afford instruments with much greater ease; the present study thus hopes to contribute to efforts to increase the accessibility of classical music education.

Keywords: acoustic musical instrument, classical musical education, low-cost, 3-D printing

Procedia PDF Downloads 207

Authors: Shreya Saxena

Abstract:

Background: Choledocholithiasis is a common complication of gallstone disease. Risk scoring systems exist to guide the need for further imaging or endoscopy in managing choledocholithiasis. We completed an audit to review the American Society for Gastrointestinal Endoscopy (ASGE) scoring system for prediction and management of choledocholithiasis against the current practice at a tertiary hospital to assess its utility in resource optimisation. We have now conducted a cost focused sub-analysis on patients categorized high-risk for choledocholithiasis according to the guidelines to determine any associated cost benefits. Method: Data collection from our prior audit was used to retrospectively identify thirteen patients considered high-risk for choledocholithiasis. Their ongoing management was mapped against the guidelines. Individual costs for the key investigations were obtained from our hospital financial data. Total cost for the different management pathways identified in clinical practice were calculated and compared against predicted costs associated with recommendations in the guidelines. We excluded the cost of laparoscopic cholecystectomy and considered a set figure for per day hospital admission related expenses. Results: Based on our previous audit data, we identified a77% positive predictive value for the ASGE risk stratification tool to determine patients at high-risk of choledocholithiasis. 47% (6/13) had an magnetic resonance cholangiopancreatography (MRCP) prior to endoscopic retrograde cholangiopancreatography (ERCP), whilst 53% (7/13) went straight for ERCP. The average length of stay in the hospital was 7 days, with an additional day and cost of £328.00 (£117 for ERCP) for patients awaiting an MRCP prior to ERCP. Per day hospital admission was valued at £838.69. When calculating total cost, we assumed all patients had admission bloods and ultrasound done as the gold standard. In doing an MRCP prior to ERCP, there was a 130% increase in cost incurred (£580.04 vs £252.04) per patient. When also considering hospital admission and the average length of stay, it was an additional £1166.69 per patient. We then calculated the exact costs incurred by the department, over a three-month period, for all patients, for key investigations or procedures done in the management of choledocholithiasis. This was compared to an estimate cost derived from the recommended pathways in the ASGE guidelines. Overall, 81% (£2048.45) saving was associated with following the guidelines compared to clinical practice. Conclusion: MRCP is the most expensive test associated with the diagnosis and management of choledocholithiasis. The ASGE guidelines recommend endoscopy without an MRCP in patients stratified as high-risk for choledocholithiasis. Our audit that focused on assessing the utility of the ASGE risk scoring system showed it to be relatively reliable for identifying high-risk patients. Our cost analysis has shown significant cost savings per patient and when considering the average length of stay associated with direct endoscopy rather than an additional MRCP. Part of this is also because of an increased average length of stay associated with waiting for an MRCP. The above data supports the ASGE guidelines for the management of high-risk for choledocholithiasis patients from a cost perspective. The only caveat is our small data set that may impact the validity of our average length of hospital stay figures and hence total cost calculations.

Keywords: cost-analysis, choledocholithiasis, risk stratification tool, general surgery

Procedia PDF Downloads 79

Authors: Christophe Spaas, Lies Pottel, Joke De Ceulaer, Johan Abeloos, Philippe Lamoral, Tom De Backer, Calix De Clercq

Abstract:

We aimed to evaluate the accuracy of an in-house developed low-cost computer-assisted surgery (CAS) protocol for osseous free flap mandibular reconstruction. All patients who underwent primary or secondary mandibular reconstruction with a free (solely or composite) osseous flap, either a fibula free flap or iliac crest free flap, between January 2014 and December 2017 were evaluated. The low-cost protocol consisted out of a virtual surgical planning, a prebend custom reconstruction plate and an individualized free flap positioning guide. The accuracy of the protocol was evaluated through comparison of the postoperative outcome with the 3D virtual planning, based on measurement of the following parameters: intercondylar distance, mandibular angle (axial and sagittal), inner angular distance, anterior-posterior distance, length of the fibular/iliac crest segments and osteotomy angles. A statistical analysis of the obtained values was done. Virtual 3D surgical planning and cutting guide design were performed with Proplan CMF® software (Materialise, Leuven, Belgium) and IPS Gate (KLS Martin, Tuttlingen, Germany). Segmentation of the DICOM data as well as outcome analysis were done with BrainLab iPlan® Software (Brainlab AG, Feldkirchen, Germany). A cost analysis of the protocol was done. Twenty-two patients (11 fibula /11 iliac crest) were included and analyzed. Based on voxel-based registration on the cranial base, 3D virtual planning landmark parameters did not significantly differ from those measured on the actual treatment outcome (p-values >0.05). A cost evaluation of the in-house developed CAS protocol revealed a 1750 euro cost reduction in comparison with a standard CAS protocol with a patient-specific reconstruction plate. Our results indicate that an accurate transfer of the planning with our in-house developed low-cost CAS protocol is feasible at a significant lower cost.

Keywords: CAD/CAM, computer-assisted surgery, low-cost, mandibular reconstruction

Procedia PDF Downloads 122

Authors: Priscilla Echeverria

Abstract:

This paper addresses initial teacher formation as a formative space in which pedagogy students develop a pedagogical agency capacity to contribute to social justice, considering ethical, political, and epistemic dimensions. This paper is structured by discussing first the concepts of agency, pedagogical interaction, and social justice from a critical perspective; and continues offering preliminary results on the capacity of pedagogical agency in novice teachers after the analysis of critical incidents as a research methodology. This study is motivated by the concern that responding to the current neoliberal scenario, many initial teacher formation (ITF) programs have reduced the meaning of education to instruction, and pedagogy to methodology, favouring the formation of a technical professional over a reflective or critical one. From this concern, this study proposes that the restitution of the subject is an urgent task in teacher formation, so it is essential to enable him in his capacity for action and advance in eliminating institutionalized oppression insofar as it affects that capacity. Given that oppression takes place in human interaction, through this work, I propose that initial teacher formation develops sensitivity and educates the gaze to identify oppression and take action against it, both in pedagogical interactions -which configure political, ethical, and epistemic subjectivities- as in the hidden and official curriculum. All this from the premise that modelling democratic and dialogical interactions are basic for any program that seeks to contribute to a more just and empowered society. The contribution of this study lies in the fact that it opens a discussion in an area about which we know little: the impact of the type of interactions offered by university teaching at ITF on the capacity of future teachers to be pedagogical agents. For this reason, this study seeks to gather evidence of the result of this formation, analysing the capacity of pedagogical agency of novice teachers, or, in other words, how capable the graduates of secondary pedagogies are in their first pedagogical experiences to act and make decisions putting the formative purposes that they are capable of autonomously defining before technical or bureaucratic issues imposed by the curriculum or the official culture. This discussion is part of my doctoral research, "The importance of developing the capacity for ethical-political-epistemic agency in novice teachers during initial teacher formation to contribute to social justice", which I am currently developing in the Educational Research program of the University of Lancaster, United Kingdom, as a Conicyt fellow for the 2019 cohort.

Keywords: initial teacher formation, pedagogical agency, pedagogical interaction, social justice, hidden curriculum

Procedia PDF Downloads 66

Authors: M. C. Arcuri, L. Gai, F. Ielasi

Abstract:

Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions. 

Keywords: banks, default risk, Italian guarantee fund, mutual guarantee institutions

Procedia PDF Downloads 152

Authors: Lalith Edirisinghe, Zhihong Jin, A.W. Wijeratne, Hansa Edirisinghe, Lakshmi Ranwala Rashika Mudunkotuwa

Abstract:

A paradigm shift in container inventory management (CIM) is a long-awaited industry need. Virtual container yard (VCY) is a concept developed in 2013 and its primary objective is to minimize shipping transport cost through implementing container exchange between carriers. Shipping lines always try to maintain lower container idle time and provide higher customer satisfaction. However, it is disappointing to note that carriers turn a blind eye to the escalating cost resulted from the present inefficient CIM mechanism. The cost of empty container management is simply transferred to the importers and exporters as freight adjustments. It also creates an environmental hazard. Therefore, it has now become a problem for the society. Therefore, a paradigm shift may be required as the present CIM system is not working for common interests of human beings as it should be.

Keywords: collaboation, inventory, shipping, virtual container yard

Procedia PDF Downloads 233