Search results for: macro corruption
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 809

Search results for: macro corruption

389 Comparative Study on Inhibiting Factors of Cost and Time Control in Nigerian Construction Practice

Authors: S. Abdulkadir, I. Y. Moh’d, S. U. Kunya, U. Nuruddeen

Abstract:

The basis of any contract formation between the client and contractor is the budgeted cost and the estimated duration of projects. These variables are paramount important to project's sponsor in a construction projects and in assessing the success or viability of construction projects. Despite the availability of various techniques of cost and time control, many projects failed to achieve their initial estimated cost and time. The paper evaluate the inhibiting factors of cost and time control in Nigerian construction practice and comparing the result with the United Kingdom practice as identified by one researcher. The populations of the study are construction professionals within Bauchi and Gombe state, Nigeria, a judgmental sampling employed in determining the size of respondents. Descriptive statistics used in analyzing the data in SPSS. Design change, project fraud and corruption, financing and payment of completed work found to be common among the top five inhibiting factors of cost and time control in the study area. Furthermore, the result had shown some comprising with slight contrast as in the case of United Kingdom practice. Study recommend the adaptation of mitigation measures developed in the UK prior to assessing its effectiveness and so also developing a mitigating measure for other top factors that are not within the one developed in United Kingdom practice. Also, it recommends a wider assessing comparison on the modify inhibiting factors of cost and time control as revealed by the study to cover almost all part of Nigeria.

Keywords: comparison, cost, inhibiting factor, United Kingdom, time

Procedia PDF Downloads 419
388 Production of Spherical Cementite within Bainitic Matrix Microstructures in High Carbon Powder Metallurgy Steels

Authors: O. Altuntaş, A. Güral

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The hardness-microstructure relationships of spherical cementite in bainitic matrix obtained by a different heat treatment cycles carried out to high carbon powder metallurgy (P/M) steel were investigated. For this purpose, 1.5 wt.% natural graphite powder admixed in atomized iron powders and the mixed powders were compacted under 700 MPa at room temperature and then sintered at 1150 °C under a protective argon gas atmosphere. The densities of the green and sintered samples were measured via the Archimedes method. A density of 7.4 g/cm3 was obtained after sintering and a density of 94% was achieved. The sintered specimens having primary cementite plus lamellar pearlitic structures were fully quenched from 950 °C temperature and then over-tempered at 705 °C temperature for 60 minutes to produce spherical-fine cementite particles in the ferritic matrix. After by this treatment, these samples annealed at 735 °C temperature for 3 minutes were austempered at 300 °C salt bath for a period of 1 to 5 hours. As a result of this process, it could be able to produced spherical cementite particle in the bainitic matrix. This microstructure was designed to improve wear and toughness of P/M steels. The microstructures were characterized and analyzed by SEM and micro and macro hardness.

Keywords: powder metallurgy steel, bainite, cementite, austempering and spheroidization heat treatment

Procedia PDF Downloads 142
387 Management Strategies for Risk Events in Construction Industries during Economic Situation and COVID-19 Pandemic in Nigeria

Authors: Ezeabasili Chibuike Patrick

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The complex situation of construction industries in Nigeria and the risk of failures involved includes cost overrun, time overrun, Corruption, Government influence, Subcontractor challenges, Political influence and Instability, Cultural differences, Human resources deficiencies, cash flow Challenges, foreign exchange issues, inadequate design, Safety, low productivity, late payment, Quality control issues, project management issues, Environmental issues, Force majeure Competition amongst others has made the industry prone to risk and failures. Good project management remains effective in improving decision-making, which minimizes these risk events. This study was done to address these project risks and good decision-making to avert them. A mixed-method approach to research was used to do this study. Data collected by questionnaires and interviews on thirty-two (32) construction professionals was used in analyses to aid the knowledge and management of risks that were identified. The study revealed that there is no good risk management expertise in Nigeria. Also, that the economic/political situation and the recent COVID-19 pandemic has added to the risk and poor management strategies. The contingency theory and cost has therefore surfaced to be the most strategic management method used to reduce these risk issues and they seem to be very effective.

Keywords: strategies, risk management, contingency theory, Nigeria

Procedia PDF Downloads 105
386 South African Municipal Service Delivery Failure and Public Value Theory

Authors: Andrew Enaifoghe

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Municipalities are the most fundamental units of governance, and they are responsible for providing basic services and supporting growth in the areas they rule. South African local government is primarily understood in terms of service delivery, and the South African constitution provides municipalities with the responsibility of mobilizing economic resources, to better the lives of all people. Essential public services are the primary pillars of enhanced quality of life, and appropriate supplies of safe water and sanitation are required for life, well-being, and human dignity. Therefore, having access to basic services is directly tied to social inclusion and social capital, and towns' inability to offer services can have a negative influence on social and economic growth. The problem of service delivery is seen as one of the biggest challenges facing South African municipalities today. This study attempts to assess South African municipal service delivery. Focusing on the main causes of service delivery challenges, the study also looks at the impact of these challenges to identify ways to minimize such challenges by introducing legal instruments such as municipal budgeting and annual reports. A qualitative design was adopted, and data were collected using a desktop technique and analyzed based on content. While public engagement in municipal affairs is required by law, considerable work has to be done to ensure successful participation. Finally, municipalities were deemed to need to do more to improve human capacity to offer services.

Keywords: municipalities, service delivery, corruption, monitoring, South Africa

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385 Discrete Element Method Simulation of Crushable Pumice Sand

Authors: Sayed Hessam Bahmani, Rolsndo P. Orense

Abstract:

From an engineering point of view, pumice particles are problematic because of their crushability and compressibility due to their vesicular nature. Currently, information on the geotechnical characteristics of pumice sands is limited. While extensive empirical and laboratory tests can be implemented to characterize their behavior, these are generally time-consuming and expensive. These drawbacks have motivated attempts to study the effects of particle breakage of pumice sand through the Discrete Element Method (DEM). This method provides insights into the behavior of crushable granular material at both the micro and macro-level. In this paper, the results of single-particle crushing tests conducted in the laboratory are simulated using DEM through the open-source code YADE. This is done to better understand the parameters necessary to represent the pumice microstructure that governs its crushing features, and to examine how the resulting microstructure evolution affects a particle’s properties. The DEM particle model is then used to simulate the behavior of pumice sand during consolidated drained triaxial tests. The results indicate the importance of incorporating particle porosity and unique surface textures in the material characterization and show that interlocking between the crushed particles significantly influences the drained behavior of the pumice specimen.

Keywords: pumice sand, triaxial compression, simulation, particle breakage

Procedia PDF Downloads 219
384 Entrepreneurship, Institutional Quality, and Macroeconomic Performance: Evidence from Nigeria

Authors: Cleopatra Oluseye Ibukun

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Following the endogenous growth theory, entrepreneurship has been considered pivotal to economic growth and development, particularly in developing countries like Nigeria. Meanwhile, efforts to reduce unemployment has yielded minimal result with over 36% of youth unemployment and a dwindling economic growth despite the country’s natural and human resource endowment. This study, therefore, investigates the effects of entrepreneurship and institutional quality on economic growth and unemployment in Nigeria over the period 1996 to 2018. The data is obtained from the National Bureau of Statistics (NBS), World Bank’s World Development Indicators (WDI), and the World Bank’s World Governance Indicators (WGI). The study period is guided by the availability of data, and the study employs both descriptive and econometric techniques of analysis (specifically, the Auto-regressive Distributed Lag Approach). This approach is preferable given that the variables are stationary at the first difference, while the bounds test suggests the existence of co-integration among the variables. By implication, an increase in entrepreneurship significantly improves economic growth, and it reduces unemployment in both the short-run and the long-run. Besides, institutional quality proxied by the control of corruption, political stability, and government effectiveness significantly mediates the interaction between entrepreneurship and macroeconomic performance. This study concludes that improved institutional quality enhances the effect of entrepreneurship on economic growth and unemployment in Nigeria, and it recommends an improvement in Nigeria’s institutional quality because it can jeopardise or augment the effect of entrepreneurship on macroeconomic performance.

Keywords: entrepreneurship, institutional quality, unemployment, gross domestic product, Nigeria

Procedia PDF Downloads 110
383 Countercyclical Capital Buffer in the Polish Banking System

Authors: Mateusz Mokrogulski, Piotr Śliwka

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The aim of this paper is the identification of periods of excessive credit growth in the Polish banking sector in years 2007-2014 using different methodologies. Due to the lack of precise guidance in CRD IV regarding methods of calculating the credit gap and related deviations from the long-term trends, a few filtering methods are applied, e.g. Hodrick-Prescott and Baxter-King. The solutions based on the switching model are also proposed. The next step represent computations of both the credit gap, and the counter cyclical capital buffer (CCB) rates on a quarterly basis. The calculations are carried out for the entire banking sector in Poland, as well as for its components (commercial and co-operative banks), and different types of loans. The calculations show vividly that in the analysed period there were the times of excessive credit growth. However, the results are different for the above mentioned sub-sectors. Of paramount importance here are mortgage loans, where the outcomes are distorted by high exchange rate fluctuations. The research on the CCB is now going to gain popularity as the buffer will soon become one of the tools of the macro prudential policy under CRD IV. Although the presented method is focused on the Polish banking sector, it can also be applied to other member states. Especially to the Central and Eastern European countries, that are usually characterized by smaller banking sectors compared to EU-15.

Keywords: countercyclical capital buffer, CRD IV, filtering methods, mortgage loans

Procedia PDF Downloads 299
382 Numerical Multi-Scale Modeling of Rubber Friction on Rough Pavements Using Finite Element Method

Authors: Ashkan Nazari, Saied Taheri

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Knowledge of tire-pavement interaction plays a crucial role in designing safer and more reliable tires. Characterizing the tire-pavement frictional interaction leads to a better understanding of vehicle performance in braking and acceleration. In this work, we devise a multi-scale simulation approach to incorporate the effect of pavement surface asperities in different length-scales. We construct two- and three-dimensional Finite Element (FE) models to simulate the interaction between a rubber block and a rough pavement surface with asperities in different scales. To achieve this, the road profile is scanned via a laser profilometer and the obtained asperities are implemented in an FE software (ABAQUS) in micro and macro length-scales. The hysteresis friction, which is due to the dissipative nature of rubber, is the main component of the friction force and therefore is the subject of study in this work. Using different scales not only will assist in characterizing the pavement asperities with sufficient details but also, it is highly effective in preventing extreme local deformations and stress gradients which results in divergence in FE simulations. The simulation results will be validated with experimental results as well as the results reported in the literature.

Keywords: friction, finite element, multi-scale modeling, rubber

Procedia PDF Downloads 114
381 Macroeconomic Measure of Projectification: An Empirical Study of Pakistani Economy

Authors: Shafaq Rana, Hina Ansar

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Projectification is an emerging phenomenon in Western economies. The projects have become the key driver of the economic actions. The impact of projectification is understudy for over a decade. A methodology was developed to measure the degree of projectification at economical level, which was later adapted to measure the degree of projectification in Germany, Norway, and Iceland; and compared the differences in these project societies, considering their industrial structure, organizational size, and the share of project work. Using the same methodology, this study aims to provide empirical evidence of the project work in the context of Pakistan –a developing nation, keeping into consideration the macroeconomic measures, qualitative and quantitative measures of the project i/c GDP, monetary measures, and project success. The research includes a qualitative pre-study to define these macro-measures in the country-specific context and a quantitative study to measure the project work w.r.t hours working in the organizations on projects. The outcome of this study provides the key data on the projectification in a developing economy, which will help industry practitioners and decision-makers to examine the consequences of projectification and strategize, respectively. This study also provides a foundation for further research in individual sectors of the country while exploring different macroeconomic questions, including the effect of projectification on project productivity, income effects, and labor market.

Keywords: developing economy, Pakistan, project work, projectification

Procedia PDF Downloads 99
380 Corporate Collapses and (Legal) Ethics

Authors: Elizabeth Snyman-Van Deventer

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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

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379 Moderators of the Relationship between Entrepreneurial Self-Efficacy and Expected Firm Growth

Authors: Laszlo Szerb, Zsofia Voros

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In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM APS (Global Entrepreneurship Monitor Adult Population Survey) data, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changes as business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior (2006) as a modeling framework, we illustrate that early stage business owners’ overconfidence results in overly high firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. Overall, our study empirically links young entrepreneurs’ overconfidence to their growth expectations at the firm level. This link is important to establish as expected growth was linked to realized growth both on micro and macro levels. Moreover, we detected several moderators of this relationship providing a potential answer to why many studies failed to link entrepreneurial self-efficacy to growth expectations.

Keywords: self-efficacy, overconfidence, entrepreneurship, expected growth

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378 Some Accuracy Related Aspects in Two-Fluid Hydrodynamic Sub-Grid Modeling of Gas-Solid Riser Flows

Authors: Joseph Mouallem, Seyed Reza Amini Niaki, Norman Chavez-Cussy, Christian Costa Milioli, Fernando Eduardo Milioli

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Sub-grid closures for filtered two-fluid models (fTFM) useful in large scale simulations (LSS) of riser flows can be derived from highly resolved simulations (HRS) with microscopic two-fluid modeling (mTFM). Accurate sub-grid closures require accurate mTFM formulations as well as accurate correlation of relevant filtered parameters to suitable independent variables. This article deals with both of those issues. The accuracy of mTFM is touched by assessing the impact of gas sub-grid turbulence over HRS filtered predictions. A gas turbulence alike effect is artificially inserted by means of a stochastic forcing procedure implemented in the physical space over the momentum conservation equation of the gas phase. The correlation issue is touched by introducing a three-filtered variable correlation analysis (three-marker analysis) performed under a variety of different macro-scale conditions typical or risers. While the more elaborated correlation procedure clearly improved accuracy, accounting for gas sub-grid turbulence had no significant impact over predictions.

Keywords: fluidization, gas-particle flow, two-fluid model, sub-grid models, filtered closures

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377 PDMS-Free Microfluidic Chips Fabrication and Utilisation for Pulsed Electric Fields Applications

Authors: Arunas Stirke, Neringa Bakute, Gatis Mozolevskis

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A technology of microfluidics is an emerging tool in the field of biology, medicine and chemistry. Microfluidic device is also known as ‘lab-on-a-chip’ technology [1]. In moving from macro- to microscale, there is unprecedented control over spatial and temporal gradients and patterns that cannot be captured in conventional Petri dishes and well plates [2]. However, there is not a single standard microfluidic chip designated for all purposes – every different field of studies needs a specific microchip with certain geometries, inlet/outlet, channel depth and other parameters to precisely regulate the required function. Since our group is studying an effect of pulsed electric field (PEF) to the cells, we have manufactured a microfluidic chip designated for high-throughput electroporation of cells. In our microchip, a cell culture chamber is divided into two parallel channels by a membrane, meanwhile electrodes for electroporation are attached to the wall of the channels. Both microchannels have their own inlet and outlet, enabling injection of transfection material separately. Our perspective is to perform electroporation of mammalian cells in two different ways: (1) plasmid and cells are injected in the same microchannel and (2) injected into separate microchannels. Moreover, oxygen and pH sensors are integrated on order to analyse cell viability parameters after PEF treatment.

Keywords: microfluidics, chip, fabrication, electroporation

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376 Maturity Transformation Risk Factors in Islamic Banking: An Implication of Basel III Liquidity Regulations

Authors: Haroon Mahmood, Christopher Gan, Cuong Nguyen

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Maturity transformation risk is highlighted as one of the major causes of recent global financial crisis. Basel III has proposed new liquidity regulations for transformation function of banks and hence to monitor this risk. Specifically, net stable funding ratio (NSFR) is introduced to enhance medium- and long-term resilience against liquidity shocks. Islamic banking is widely accepted in many parts of the world and contributes to a significant portion of the financial sector in many countries. Using a dataset of 68 fully fledged Islamic banks from 11 different countries, over a period from 2005 – 2014, this study has attempted to analyze various factors that may significantly affect the maturity transformation risk in these banks. We utilize 2-step system GMM estimation technique on unbalanced panel and find bank capital, credit risk, financing, size and market power are most significant among the bank specific factors. Also, gross domestic product and inflation are the significant macro-economic factors influencing this risk. However, bank profitability, asset efficiency, and income diversity are found insignificant in determining the maturity transformation risk in Islamic banking model.

Keywords: Basel III, Islamic banking, maturity transformation risk, net stable funding ratio

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375 Recovery and Εncapsulation of Μarine Derived Antifouling Agents

Authors: Marina Stramarkou, Sofia Papadaki, Maria Kaloupi, Ioannis Batzakas

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Biofouling is a complex problem of the aquaculture industry, as it reduces the efficiency of the equipment and causes significant losses of cultured organisms. Nowadays, the current antifouling methods are proved to be labor intensive, have limited lifetime and use toxic substances that result in fish mortality. Several species of marine algae produce a wide variety of biogenic compounds with antibacterial and antifouling properties, which are effective in the prevention and control of biofouling and can be incorporated in antifouling coatings. In the present work, Fucus spiralis, a species of macro algae, and Chlorella vulgaris, a well-known species of microalgae, were used for the isolation and recovery of bioactive compounds, belonging to groups of fatty acids, lipopeptides and amides. The recovery of the compounds was achieved through the application of the ultrasound- assisted extraction, an environmentally friendly method, using green, non-toxic solvents. Moreover, the coating of the antifouling agents was done by innovative encapsulation and coating methods, such as electro-hydrodynamic process. For the encapsulation of the bioactive compounds natural matrices were used, such as polysaccharides and proteins. Water extracts that were incorporated in protein matrices were considered the most efficient antifouling coating.

Keywords: algae, electrospinning, fatty acids, ultrasound-assisted extraction

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374 Intercultural Education through Literature Reception: An in-Depth Study of the Cultural and Literary Relations of Romania and China during 1948-2018

Authors: Iulia Elena Gîță

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According to the sociological theory of literature, constraints on the creation and share of cultural works can be placed between two extremes: one with a high level of politicization and the other with a high level of commercialization. The overall objective of the present research is to follow the principles of Sociology of Translation to closely map and analyse the publishing activity of Romania concerning China and Chinese literature during four stages of Romanian history between 1948-2018. This paper proposes, thus, an extended approach to literature, to its cultural, political and economic reception. In achieving the proposed objectives, the research expands far beyond the literary text itself, to its macro context, analysing, through quantitative research methods, a statistical database created based on two phases - the first part containing literary and non-fictional works that address and discuss issues related to China; the second part includes literary translations of Chinese literature into Romanian, either by direct translation or by an intermediate language. Throughout this paper we will map not only the number of works, but also the topics approached by writers along the two periods of the political life of Romania.

Keywords: bilateral relations, Chinese literature, intercultural understanding, international relations, socio-cultural reception, socio-political constraints, publishing

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373 The Role of Public Management Development in Enhancing Public Service Delivery in the South African Local Government

Authors: Andrew Enaifoghe

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The study examined the role of public management development in enhancing public service delivery in the South African local government. The study believes that the ultimate empowerment of the third tier sphere of governments in South Africa remains the instrument required to enhance both national and continental development. This over the year has been overwhelmed with problems and imbalance related to ethical practice, accountability and the functional local government system and the machinery itself. The study finds that imbalances are being strengthened by a lack of understanding and unanimity as to what a public management development in a democratic system is and how it should work to achieve the dividends of democracy in delivering public goods. Studies indicated that the magnitudes are widespread corruption and misrepresentations of government priorities; both of which weaken the ability of governments to enhance broad-based economic growth and social well-being of the people. This study addressed the problem of public management and accountable local government. The study indicates the need for citizens’ participation in the decision-making process in delivering public service in South Africa and how its accountability mechanism supports good governance. The study concludes that good and ethical watersheds in South Africa have since reached such proportions that social pressure, the pressure from the government and various institutions have to re-consider where they stand regarding ethics, ethical behaviour, accountability and professionalism in delivering public goods to the people at the local municipal government.

Keywords: accountability, development, democratic system, South Africa

Procedia PDF Downloads 96
372 Multiscale Model of Blast Explosion Human Injury Biomechanics

Authors: Raj K. Gupta, X. Gary Tan, Andrzej Przekwas

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Bomb blasts from Improvised Explosive Devices (IEDs) account for vast majority of terrorist attacks worldwide. Injuries caused by IEDs result from a combination of the primary blast wave, penetrating fragments, and human body accelerations and impacts. This paper presents a multiscale computational model of coupled blast physics, whole human body biodynamics and injury biomechanics of sensitive organs. The disparity of the involved space- and time-scales is used to conduct sequential modeling of an IED explosion event, CFD simulation of blast loads on the human body and FEM modeling of body biodynamics and injury biomechanics. The paper presents simulation results for blast-induced brain injury coupling macro-scale brain biomechanics and micro-scale response of sensitive neuro-axonal structures. Validation results on animal models and physical surrogates are discussed. Results of our model can be used to 'replicate' filed blast loadings in laboratory controlled experiments using animal models and in vitro neuro-cultures.

Keywords: blast waves, improvised explosive devices, injury biomechanics, mathematical models, traumatic brain injury

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371 The Effect of Deficit Financing on Macro-Economic Variables in Nigeria (1970-2013)

Authors: Ezeoke Callistus Obiora, Ezeoke Nneka Angela

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The study investigated the effect of deficit financing on macroeconomic variables in Nigeria. The specific objectives included to find out the relationship between deficit financing and GDP, interest rate, inflation rate, money supply, exchange rate and private investment respectively on a time series covering a period of 44 years (1970 – 2013). The Ordinary Least Square multiple regression produced statistics for the coefficient of determination (R2), F-test, t-test used for the interpretation of the study. The findings revealed that Deficit financing has significant positive effect on GDP and exchange rate. Again, deficit financing has a positive and insignificant relationship inflation, money supply and investment. Only interest rate recorded negative yet insignificant relationship with deficit financing. The implications of the findings are that deficit financing can be a veritable tool for boosting economic development in Nigeria, but the influential positively rising exchange rate implies that deficit financing devalues the Naira exchange rate to other currencies indicating that deficit financing can affect Nigerians competitive advantage at the world market. Thus, the study concludes that deficit financing has not encouraged economic growth in Nigeria.

Keywords: deficit financing, money supply, exchange rate, inflation, GDP, investment, Nigeria

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370 Bioconcentration Analysis of Iodine Species in Seaweed (Eucheuma cottonii) from Maluku Marine as Alternative Food Source

Authors: Yeanchon H. Dulanlebit, Nikmans Hattu, Gloria Bora

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Seaweed is a type of macro algae which are good source of iodine and have been widely used as food and nutrition supplement. One of iodine species that found in ocean plant is iodate. Analysis of iodate in seaweed (Eucheuma cottonii) from coastal area of Maluku has been done. The determination is done by using spectrophotometric method. Iodate in sample is reduced in excess of potassium iodide in the presence of acid solution, and then is reacted with starch to form blue complex. The study found out that the highest wavelength on determination of iodate species using spectrophotometer analysis method is 570 nm. Optimum value to yield maximum absorption is used in this research. Contents of iodate in seawater from coastal area of Ambon Island, Western Seram and Southeast Maluku are 0.2655, 0.2719 and 0.1760 mg/L, respectively. While in seaweeds from Ambon Island, Western Seram, Southeast Maluku-Taar, Ohoidertawun and Wab are 6.3122, 6.3293, 6.2333, 3.7406 and 4.4207 mg/kg in dry weight. Bioconcentration (enrichment) factor of iodate in seaweed (Eucheuma cottonii) from the three samples (cluster) is different; in Coastal area of Ambon Island, Western Seram and Southeast Maluku respectively are 23.78, 23.28 and 27.26.

Keywords: bioconcentration, eucheuma cottonii, iodate, iodine, seaweed

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369 An Association between Stock Index and Macro Economic Variables in Bangladesh

Authors: Shamil Mardi Al Islam, Zaima Ahmed

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The aim of this article is to explore whether certain macroeconomic variables such as industrial index, inflation, broad money, exchange rate and deposit rate as a proxy for interest rate are interlinked with Dhaka stock price index (DSEX index) precisely after the introduction of new index by Dhaka Stock Exchange (DSE) since January 2013. Bangladesh stock market has experienced rapid growth since its inception. It might not be a very well-developed capital market as compared to its neighboring counterparts but has been a strong avenue for investment and resource mobilization. The data set considered consists of monthly observations, for a period of four years from January 2013 to June 2018. Findings from cointegration analysis suggest that DSEX and macroeconomic variables have a significant long-run relationship. VAR decomposition based on VAR estimated indicates that money supply explains a significant portion of variation of stock index whereas, inflation is found to have the least impact. Impact of industrial index is found to have a low impact compared to the exchange rate and deposit rate. Policies should there aim to increase industrial production in order to enhance stock market performance. Further reasonable money supply should be ensured by authorities to stimulate stock market performance.

Keywords: deposit rate, DSEX, industrial index, VAR

Procedia PDF Downloads 139
368 Influence of the 3D Printing Parameters on the Dynamic Characteristics of Composite Structures

Authors: Ali Raza, Rūta Rimašauskienė

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In the current work, the fused deposition modelling (FDM) technique is used to manufacture PLA reinforced with carbon fibre composite structures with two unique layer patterns, 0°\0° and 0°\90°. The purpose of the study is to investigate the dynamic characteristics of each fabricated composite structure. The Macro Fiber Composite (MFC) is embedded with 0°/0° and 0°/90° structures to investigate the effect of an MFC (M8507-P2 type) patch on vibration amplitude suppression under dynamic loading circumstances. First, modal analysis testing was performed using a Polytec 3D laser vibrometer to identify bending mode shapes, natural frequencies, and vibration amplitudes at the corresponding natural frequencies. To determine the stiffness of each structure, several loads were applied at the free end of the structure, and the deformation was recorded using a laser displacement sensor. The findings confirm that a structure with 0°\0° layers pattern was found to have more stiffness compared to a 0°\90° structure. The maximum amplitude suppression in each structure was measured using a laser displacement sensor at the first resonant frequency when the control voltage signal with optimal phase was applied to the MFC. The results confirm that the 0°/0° pattern's structure exhibits a higher displacement reduction than the 0°/90° pattern. Moreover, stiffer structures have been found to perform amplitude suppression more effectively.

Keywords: carbon fibre composite, MFC, modal analysis stiffness, stiffness

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367 Construction Unit Rate Factor Modelling Using Neural Networks

Authors: Balimu Mwiya, Mundia Muya, Chabota Kaliba, Peter Mukalula

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Factors affecting construction unit cost vary depending on a country’s political, economic, social and technological inclinations. Factors affecting construction costs have been studied from various perspectives. Analysis of cost factors requires an appreciation of a country’s practices. Identified cost factors provide an indication of a country’s construction economic strata. The purpose of this paper is to identify the essential factors that affect unit cost estimation and their breakdown using artificial neural networks. Twenty-five (25) identified cost factors in road construction were subjected to a questionnaire survey and employing SPSS factor analysis the factors were reduced to eight. The 8 factors were analysed using the neural network (NN) to determine the proportionate breakdown of the cost factors in a given construction unit rate. NN predicted that political environment accounted 44% of the unit rate followed by contractor capacity at 22% and financial delays, project feasibility, overhead and profit each at 11%. Project location, material availability and corruption perception index had minimal impact on the unit cost from the training data provided. Quantified cost factors can be incorporated in unit cost estimation models (UCEM) to produce more accurate estimates. This can create improvements in the cost estimation of infrastructure projects and establish a benchmark standard to assist the process of alignment of work practises and training of new staff, permitting the on-going development of best practises in cost estimation to become more effective.

Keywords: construction cost factors, neural networks, roadworks, Zambian construction industry

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366 Stimulating Policy for Attracting Foreign Direct Investment in Georgia

Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, N. Damenia

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Current state of foreign direct investment (FDI) in Georgia is analyzed and evaluated in the paper, the existing legislative background for regulating investments and stimulating policies to attract investments are shown. It is noted that in developing countries encouragement of investment activity, support and implementation are of the most important tasks, implying a consistent investment policy, investor-friendly tax regime and the legal system, reducing administrative barriers and restrictions, fare competitive conditions and business development infrastructure. The work deals with the determining factor of FDIs and the main directions of stimulation, as well as prospective industries where new investments are needed. Contributing and hindering factors and stimulating measures are analyzed. As a result of the research, the direct and indirect factors attracting FDI have been identified. Facilitating factors to FDI inflow are as follows: simplicity of starting business, geopolitical location, low taxes, access to credit, ease of ownership registration, natural resources, low burden of regulations, low level of corruption and low crime rates. Hindering factors to FDI inflow are as follows: small market, lack of policy for attracting investments, low qualification of the workforce (despite the large number of unemployed people it is difficult to find workers with necessary special skills and qualifications), high interest rates, instability of national currency exchange rate, presence of conflict zones within the country and so forth.

Keywords: foreign direct investment, investor, investment attracting marketing policies, reinvestment

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365 Effect of Nutrient Limitations in Phycocyanin Formation by Spirulina platensis

Authors: Hugo F. Lobaton

Abstract:

The cyanobacterium Spirulina platensis is a prokaryotic photoautotrophic microorganism that is successfully cultivated for the commercialization as whole biomass due to its high protein content and promising valuable substance. For instance, phycocyanin has recently drawn the interest of the food and cosmetic industries due to its bright blue colour and its strong antioxidant capacities. The phycocyanin (PC) is the main protein-pigment in S. platensis (4% to 20%). In batches, the rate of overproduction of metabolites by cyanobacteria is limited or activated by the depletion of required substrates. The aim of this study was to develop a kinetic law that describes phycocyanin formation during batch cultivation. S. platensis was cultivated in 1 L bubble column photobioreactor with 30°C and 700 µmol m⁻² s⁻¹. Culture samples were daily collected from the bubble columns in sterile conditions. The biomass (g l⁻¹) was measured directly after a biomass lyophilisation process, and phycocyanin extractions and measurements were done according to a well-established protocol. A kinetic law for phycocyanin formation that includes nitrate and bicarbonate limitations was proposed and linked to the biomass core model. The set of differential equations were solved in MATLAB. Concerning to product formation, the experimental results show that phycocyanin mass fraction is degraded as results of the complete nitrate depletion and nitrate additions during the cultivation help to keep constant this molecule until new macro-element limitation appear. According to the model, bicarbonate is this limitation.

Keywords: phycocyanin, nitrate, bicarbonate, spirulina

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364 Service Delivery Disparity Conundrum at Winnie Madikizela Mandela Local Municipality: Exploration of the Enhanced Future

Authors: Mandisi Matyana

Abstract:

Although the South African local government is doing all the best in ensuring improved service delivery for the citizens, service delivery disparity still remains the real challenge for other municipalities. The unequal distribution of services within municipal wards is causing unequal happiness among the citizens; hence others do enjoy different provided municipal services, while others do not. It is acknowledged that less access to municipal services infringes one’s rights, such as the right to human dignity and the right to life. Some of the municipal services are basic services and they are the mainstay of human survival, such as water, housing, etc. It is quite evident that the service delivery disparity could be caused by the various factors within the local municipality affairs, including both administrative and political factors. Therefore, this study is undertaken to check and evaluate the main foundations of service delivery disparity in ensuring equal development of the state, particularly for local communities. The study used the qualitative method to collect the data from the citizens of Winnie Madikizela Mandela Local Municipality. An extensive literature was also conducted in understanding the causes of service delivery disparity. Study findings prove that the service delivery disparity could be caused by factors such as political interference in administration, corruption and fraud, elevated unemployment levels, inadequate institutional capacity, etc. Therefore, the study recommends strong community participation and constant external supervision in the local government so as to encourage openness in local government to ensure fair administration towards services to be provided.

Keywords: administration, development, municipal services, service delivery disparity, Winnie Madikizela Mandela local municipality

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363 Role of International Organizations towards Good Governance: Recent Trends

Authors: E. Prema Shyam

Abstract:

The role of international organizations has contributed in various ways for the good governance in the world at large. Since the beginning of the 1990s international organizations, particularly those active in the areas of human rights, trade and economic etc., have embraced a 'good governance'. It is also pertinent to mention that the application of the concept of good governance to international organizations themselves and not exclusively to national or regional polities is a more recent phenomenon. Especially since the second half of the 1990s, a number of international organizations have carried out major governance reforms, assuming that their calls for governments to heed higher standards of good governance will be all the more credible provided that they develop a good governance standard for themselves. In addition to this number of organizations such as the United Nations (UN), Organisation for Economic Co-operation and Development (OECD), European Union (EU), International Committee of the Red Cross and World Trade Organization (WTO). OECD has been specifically mobilized to fight corruption. The World Bank was the first international organization to address the issue of good governance when it attributed the African development crisis to a crisis of governance in a 1989 report. International organizations are often denounced for their lack of transparency and democracy. However, in the last few years, a number of them have pushed through impressive reforms aimed at enhancing good governance standards within their own organizations, especially in the light of their long-standing secrecy. This is a remnant of the traditional conception of international organizations, which renders them merely answerable to their Members. International organizations have already gone quite some way in the areas of good management and opening up to the public. However, as far as participatory governance is concerned, lot to be done for the larger interest of society. In this paper, an attempt has been made to focus the issues on international organisations with regard to good governance.

Keywords: good governance, World Trade Organisation, international organisation, governance reforms

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362 An Experimental Study on the Effects of Aspect Ratio of a Rectangular Microchannel on the Two-Phase Frictional Pressure Drop

Authors: J. A. Louw Coetzee, Josua P. Meyer

Abstract:

The thermodynamic properties of different refrigerants in combination with the variation in geometrical properties (hydraulic diameter, aspect ratio, and inclination angle) of a rectangular microchannel determine the two-phase frictional pressure gradient. The effect of aspect ratio on frictional pressure drop had not been investigated enough during adiabatic two-phase flow and condensation in rectangular microchannels. This experimental study was concerned with measurement of the frictional pressure gradient in a rectangular microchannel, with hydraulic diameter of 900 μm. The aspect ratio of this microchannel was varied over a range that stretched from 0.3 to 3 in order to capture the effect of aspect ratio variation. A commonly used refrigerant, R134a, was used in the tests that spanned over a mass flux range of 100 to 1000 kg m-2 s-1 as well as the whole vapour quality range. This study formed part of a refrigerant condensation experiment and was therefore conducted at a saturation temperature of 40 °C. The study found that there was little influence of the aspect ratio on the frictional pressure drop at the test conditions. The data was compared to some of the well known micro- and macro-channel two-phase pressure drop correlations. Most of the separated flow correlations predicted the pressure drop data well at mass fluxes larger than 400 kg m-2 s-1 and vapour qualities above 0.2.

Keywords: aspect ratio, microchannel, two-phase, pressure gradient

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361 When Women Take the Lead: Exploring the Intersection Between Gender Equality and Women’s Environmental Political Engagement from a Comparative Perspective

Authors: Summer Isaacson

Abstract:

Research on gender differences in environmental behavior has long claimed that women engage less than men in environmental political participation (EPP) (protests, petitions), despite their higher levels of environmental concern and vulnerability. Using recent data from the ISSP’s 2020 Environment module including 28 countries, we revisit the gender gap in EPP. Arguing that increasing gender equality and socio-economic development can allow women to voice their environmental grievances, we use multi-level models to examine the effects of macro-level gender equality on gender differences in environmental protests, petitions, and boycotts. By distinguishing individual from collective and non-confrontational from confrontational engagement forms, this study offers an encompassing understanding of gendered patterns of participation. Women do participate more than men, but mainly in individual and non-confrontational EPP forms (petitions, boycotts) and with substantial variation across countries. Moreover, considering how women have historically been restrained from participating in politics, we argue that structural gender inequality remains an important limitation to women’s engagement. Cross-level interactions indicate that in more egalitarian countries, women are more likely to engage in several types of EPP than men. The study offers new perspectives and findings on gender differences in EPP, highlighting the impact of gender inequality on women’s participation.

Keywords: environmental activism, political participation, gender equality, pro-environmental behavior

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360 The Roots of the Robust and Looting Economy (poverty and inequality) in Iran after the 1979 Revolution, From the Perspective of Acem Oglu & Robinson theory

Authors: Vorya Shabrandi

Abstract:

The study factors of poverty and inequality causes in countries is the subject of many scholars and economists in the last century, theorists in various areas of economic science know different factors as the roots of poverty and inequality in Iran after the 1979 revolution. Economists have emphasized political elements and political scientists on political elements. This research reviews the political economy of poverty and corruption in Iran after the revolution. The findings of this research, based on AcemOgluand Robinson theory, show how the institutional structural dependence of Iran's economy to raw has led to the growth of its non-economic economic institutions and its consequence of the continuity of the release and looting economy and poverty and inequality in Iran's political economy Is. This research was carried out using descriptive-analytical and comparative methods. Many economists try to justify the conditions of the country based on war, sanctions; And the external factors, and ... knows. In this study, we tried to examine the roots of poverty and the looting economy of Iran by implementing Research AcemOgluand Robinson on the institutions and roots of poverty. Looking for a framework for understanding why countries, such as Iran, the reason for the difference in revenue in different countries, as well as the poor or wealth of countries, regardless of the non-effective and non-professional institutions, and why inefficient institutions in some countries, such as Iran, such as Iran It remains and does not have a voluntary political powers to change these institutions. Findings The research shows that institutions are broadly the main reason for the roots of the robust and looting economy (poverty and inequality) in Iran.

Keywords: Iran, plunderable (Loot) economy, raw shopping, poverty and inequality, acem oglu and robinson, non-inclusive institutions

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