Search results for: U.S. housing market

Authors: Mesias Alfeus, Kirsty Fitzhenry, Alessia Lederer

Abstract:

The present paper provides empirical studies to estimate defaultable bonds in the South African financial market. The main goal is to estimate the unobservable factors affecting bond yields for South African major banks. The maximum likelihood approach is adopted for the estimation methodology. Extended Kalman filtering techniques are employed in order to tackle the situation that the factors cannot be observed directly. Multi-dimensional Cox-Ingersoll-Ross (CIR)-type factor models are considered. Results show that default risk increased sharply in the South African financial market during COVID-19 and the CIR model with jumps exhibits a better performance.

Keywords: default intensity, unobservable state variables, CIR, α-CIR, extended kalman filtering

Procedia PDF Downloads 97

Authors: Mohammad Hosein Panahi, Naser Yazdani

Abstract:

we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

Procedia PDF Downloads 54

Authors: Antonia Müller, Svend Reuse

Abstract:

The Brexit referendum in June 2016 led to different publications analysing potential consequences for European and British insurance companies under the European Passport. This study addresses a research gap, regarding the measures taken by insurance companies based in the United Kingdom and thus on structural changes to the European insurance market by an innovative structured Solvency and Financial Condition Report content analysis. In scope are all insurance companies based in the United Kingdom, that fall under the Solvency II supervisory regime. The results show that the majority of British Solvency II insurance companies in scope, conducting cross-border business to the European Union, have applied and reported measures to be able to continue operating this cross-border business after Brexit. In addition, the study shows that 34 new insurance companies based in the European Union were established as a result of Brexit, indicating structural changes to the European insurance market.

Keywords: brexit, europe, insurance market, solvency and financial condition repot, structural changes

Procedia PDF Downloads 194

Authors: Nattapong Techarattanased

Abstract:

The objectives of this research were to study the influence of market orientation and supply chain management on competitive capability in case of the automotive parts industry in Thailand. This study employed by survey research and questionnaire was used to collect the data from 400 entrepreneurs in the automotive parts industry in Thailand. The descriptive statistics and multiple regression analysis were used to analyze data. The results revealed that the overall dimensions of marketing orientation, namely, responsiveness, intelligence generation, and intelligence dissemination were rated at the high level. As well, the overall dimensions of supply chain management, namely, collaboration, communication, trust, and commitment were also rated at the high level. Furthermore, the hypothesis testing results showed that supply chain management and market orientation affected competitive capability of the automotive parts industry in Thailand which these two variables could be combined to predict competitive capability of the automotive parts industry in Thailand by 31.5 percent.

Keywords: automotive parts industry, competitive capability, market orientation, supply chain management

Procedia PDF Downloads 300

Authors: Manel Youssef, Lotfi Belkacem

Abstract:

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

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

Procedia PDF Downloads 519

Authors: Cheryl Forchuk, Sandra Fisman, Steve Cordes, Dan Catunto, Katherine Krakowski, Melissa Jeffrey, John D’Oria

Abstract:

The discharge of youth aged 16-25 from hospital into homelessness is a prevalent issue despite research indicating social, safety, health and economic detriments on both the individual and community. Lack of stable housing for youth discharged into homelessness results in long-term consequences, including exacerbation of health problems and costly health care service use and hospital readmission. People experiencing homelessness are four times more likely to be readmitted within one month of discharge and hospitals must spend $2,559 more per client. Finding safe housing for these individuals is imperative to their recovery and transition back to the community. People discharged from hospital to homelessness experience challenges, including poor health outcomes and increased hospital readmissions. Youth are the fastest-growing subgroup of people experiencing homelessness in Canada. The needs of youth are unique and include supports related to education, employment opportunities, and age-related service barriers. This study aims to identify the needs of youth at risk of homelessness by evaluating the efficacy of the “Preventing Discharge to No Fixed Address – Youth” (NFA-Y) program, which aims to prevent youth from being discharged from hospital into homelessness. The program connects youth aged 16-25 who are inpatients at London Health Sciences Centre and St. Joseph’s Health Care London to housing and financial support. Supports are offered through collaboration with community partners: Youth Opportunities Unlimited, Canadian Mental Health Association Elgin Middlesex, City of London Coordinated Access, Ontario Works, and Salvation Army’s Housing Stability Bank. This study was reviewed and approved by Western University’s Research Ethics Board. A series of interviews are being conducted with approximately ninety-three youth participants at three time points: baseline (pre-discharge), six, and twelve months post-discharge. Focus groups with participants, health care providers, and community partners are being conducted at three-time points. In addition, administrative data from service providers will be collected and analyzed. Since homelessness has a detrimental effect on recovery, client and community safety, and healthcare expenditure, locating safe housing for psychiatric patients has had a positive impact on treatment, rehabilitation, and the system as a whole. If successful, the findings of this project will offer safe policy alternatives for the prevention of homelessness for at-risk youth, help set them up for success in their future years, and mitigate the rise of the homeless youth population in Canada.

Keywords: youth homelessness, no-fixed address, mental health, homelessness prevention, hospital discharge

Procedia PDF Downloads 91

Authors: Janne Engblom, Elias Oikarinen

Abstract:

A panel dataset is one that follows a given sample of individuals over time, and thus provides multiple observations on each individual in the sample. Panel data models include a variety of fixed and random effects models which form a wide range of linear models. A special case of panel data models are dynamic in nature. A complication regarding a dynamic panel data model that includes the lagged dependent variable is endogeneity bias of estimates. Several approaches have been developed to account for this problem. In this paper, the panel models were estimated using the Arellano-Bover/Blundell-Bond Generalized method of moments (GMM) estimator which is an extension of the Arellano-Bond model where past values and different transformations of past values of the potentially problematic independent variable are used as instruments together with other instrumental variables. The Arellano–Bover/Blundell–Bond estimator augments Arellano–Bond by making an additional assumption that first differences of instrument variables are uncorrelated with the fixed effects. This allows the introduction of more instruments and can dramatically improve efficiency. It builds a system of two equations—the original equation and the transformed one—and is also known as system GMM. In this study, Finnish housing price dynamics were examined empirically by using the Arellano–Bover/Blundell–Bond estimation technique together with ordinary OLS. The aim of the analysis was to provide a comparison between conventional fixed-effects panel data models and dynamic panel data models. The Arellano–Bover/Blundell–Bond estimator is suitable for this analysis for a number of reasons: It is a general estimator designed for situations with 1) a linear functional relationship; 2) one left-hand-side variable that is dynamic, depending on its own past realizations; 3) independent variables that are not strictly exogenous, meaning they are correlated with past and possibly current realizations of the error; 4) fixed individual effects; and 5) heteroskedasticity and autocorrelation within individuals but not across them. Based on data of 14 Finnish cities over 1988-2012 differences of short-run housing price dynamics estimates were considerable when different models and instrumenting were used. Especially, the use of different instrumental variables caused variation of model estimates together with their statistical significance. This was particularly clear when comparing estimates of OLS with different dynamic panel data models. Estimates provided by dynamic panel data models were more in line with theory of housing price dynamics.

Keywords: dynamic model, fixed effects, panel data, price dynamics

Procedia PDF Downloads 1464

Authors: Mayank Mishra

Abstract:

Market Economy can be broadly defined as economic system where supply and demand regulate the economy and in which decisions pertaining to production, consumption, allocation of resources, price and competition are made by collective actions of individuals or organisations with limited government intervention. On the other hand Market Society is one where instead of the economy being embedded in social relations, social relations are embedded in the economy. A market economy becomes a market society when all of land, labour and capital are commodified. This transition also has effect on people’s attitude and values. Such a transition commence impacting the non-material aspect of life such as public education, public health and the like. The inception of neoliberal policies in non-market norms altered the nature of social goods like public health that raised the following questions. What impact would the transition to a market society make on people in terms of accessibility to public health? Is healthcare a commodity that can be subjected to a competitive market place? What kind of private investments are being made in public health and how do private investments alter the nature of a public good like healthcare? This research problem will employ empirical-analytical approach that includes deductive reasoning which will be using the existing concept of market economy and market society as a foundation for the analytical framework and the hypotheses to be examined. The research also intends to inculcate the naturalistic elements of qualitative methodology which refers to studying of real world situations as they unfold. The research will analyse the existing literature available on the subject. Concomitantly the research intends to access the primary literature which includes reports from the World Bank, World Health Organisation (WHO) and the different departments of respective ministries of the countries for the analysis. This paper endeavours to highlight how the issue of commodification of public health would lead to perpetual increase in its inaccessibility leading to stratification of healthcare services where one can avail the better services depending on the extent of one’s ability to pay. Since the fundamental maxim of private investments is to churn out profits, these kinds of trends would pose a detrimental effect on the society at large perpetuating the lacuna between the have and the have-nots.The increasing private investments, both, domestic and foreign, in public health sector are leading to increasing inaccessibility of public health services. Despite the increase in various public health schemes the quality and impact of government public health services are on a continuous decline.

Keywords: commodity, India and Pakistan, market society, public health

Procedia PDF Downloads 299

Authors: Abraham Castellanos, Christophe Durville, Sophie Echenim

Abstract:

In this article, a portfolio optimization problem is performed in a Solvency II context: it illustrates how advanced optimization techniques can help to tackle complex operational pain points around the monitoring, control, and stability of Solvency Capital Requirement (SCR). The market SCR of a portfolio is calculated as a combination of SCR sub-modules. These sub-modules are the results of stress-tests on interest rate, equity, property, credit and FX factors, as well as concentration on counter-parties. The market SCR is non convex and non differentiable, which does not make it a natural optimization criteria candidate. In the SCR formulation, correlations between sub-modules are fixed, whereas risk-driven portfolio allocation is usually driven by the dynamics of the actual correlations. Implementing a portfolio construction approach that is efficient on both a regulatory and economic standpoint is not straightforward. Moreover, the challenge for insurance portfolio managers is not only to achieve a minimal SCR to reduce non-invested capital but also to ensure stability of the SCR. Some optimizations have already been performed in the literature, simplifying the standard formula into a quadratic function. But to our knowledge, it is the first time that the standard formula of the market SCR is used in an optimization problem. Two solvers are combined: a bundle algorithm for convex non- differentiable problems, and a BFGS (Broyden-Fletcher-Goldfarb- Shanno)-SQP (Sequential Quadratic Programming) algorithm, to cope with non-convex cases. A market SCR minimization is then performed with historical data. This approach results in significant reduction of the capital requirement, compared to a classical Markowitz approach based on the historical volatility. A comparative analysis of different optimization models (equi-risk-contribution portfolio, minimizing volatility portfolio and minimizing value-at-risk portfolio) is performed and the impact of these strategies on risk measures including market SCR and its sub-modules is evaluated. A lack of diversification of market SCR is observed, specially for equities. This was expected since the market SCR strongly penalizes this type of financial instrument. It was shown that this direct effect of the regulation can be attenuated by implementing constraints in the optimization process or minimizing the market SCR together with the historical volatility, proving the interest of having a portfolio construction approach that can incorporate such features. The present results are further explained by the Market SCR modelling.

Keywords: financial risk, numerical optimization, portfolio management, solvency capital requirement

Procedia PDF Downloads 108

Authors: Ahmad Awajan, Sadam Al Wadi

Abstract:

In this study, a hybrid method based on Empirical Mode Decomposition and Holt-Winter (EMD-HW) is used to forecast Amman stock market data. First, the data are decomposed by EMD method into Intrinsic Mode Functions (IMFs) and residual components. Then, all components are forecasted by HW technique. Finally, forecasting values are aggregated together to get the forecasting value of stock market data. Empirical results showed that the EMD- HW outperform individual forecasting models. The strength of this EMD-HW lies in its ability to forecast non-stationary and non- linear time series without a need to use any transformation method. Moreover, EMD-HW has a relatively high accuracy comparing with eight existing forecasting methods based on the five forecast error measures.

Keywords: Holt-Winter method, empirical mode decomposition, forecasting, time series

Procedia PDF Downloads 115

Authors: Luis Enrique Escalante Ochoa

Abstract:

This paper attempts to assess the impacts of Climate change (CC) on inequalities in the labour market. CC will have the most serious effects on some vulnerable economic sectors, such as agriculture, livestock or tourism, but also on the most vulnerable population groups. The objective of this research is to evaluate the impact of CC on the labour market and particularly on Mexican women. Influential documents such as the synthesis reports produced by the Intergovernmental Panel on Climate Change (IPCC) in 2007 and 2014 revived a global effort to counteract the effects of CC, called for an analysis of the impacts on vulnerable socio-economic groups and on economic activities, and for the development of decision-making tools to enable policy and other decisions based on the complexity of the world in relation to climate change, taking into account socio-economic attributes. We follow up this suggestion and determine the impact of CC on vulnerable populations in the Mexican labour market, taking into account two attributes (gender and level of qualification of workers). Most studies have focused on the effects of CC on the agricultural sector, as it is considered a highly vulnerable economic sector to the effects of climate variability. This research seeks to contribute to the existing literature taking into account, in addition to the agricultural sector, other sectors such as tourism, water availability, and energy that are of vital importance to the Mexican economy. Likewise, the effects of climate change will be extended to the labour market and specifically to women who in some cases have been left out. The studies are sceptical about the impact of CC on the female labour market because of the perverse effects on women's domestic work, which are too often omitted from analyses. This work will contribute to the literature by integrating domestic work, which in the case of Mexico is much higher among women than among men (80.9% vs. 19.1%), according to the 2009 time use survey. This study is relevant since it will allow us to analyse impacts of climate change not only in the labour market of the formal economy, but also in the non-market sphere. Likewise, we consider that including the gender dimension is valid for the Mexican economy as it is a country with high degrees of gender inequality in the labour market. In the OECD economic study for Mexico (2017), the low labour participation of Mexican women is highlighted. Although participation has increased substantially in recent years (from 36% in 1990 to 47% in 2017), it remains low compared to the OECD average where women participate around 70% of the labour market. According to Mexico's 2009 time use survey, domestic work represents about 13% of the total time available. Understanding the interdependence between the market and non-market spheres, and the gender division of labour within them is the necessary premise for any economic analysis aimed at promoting gender equality and inclusive growth.

Keywords: climate change, labour market, domestic work, rural sector

Procedia PDF Downloads 121

Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

Abstract:

This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

Procedia PDF Downloads 265

Authors: Siri-orn Champatong

Abstract:

The purpose of this research was to study factors that were related with travel behaviors of Thai tourists at the Ayothaya Floating Market, Phra Nakhon Sri Ayutthaya. The quantitative research was conducted with 400 samples of Thai tourists traveling to the Ayothaya Floating Market. The Questionnaire was a tool used to collect data, and the statistics used for data analysis were mean and Pearson product moment correlation coefficient. The results found that Thai tourists focused on attraction, easy access and facilities of the tourist spot at a high level. In addition, they gave priority to the marketing mix in the dimension of products, price, and distribution channels at a high level as well. For marketing promotion, it was at the moderate level. The results of hypothesis testing revealed that factors related to the attractions of the tourist destination, easy access to the tourist destination, the facilities of the tourist spot, and product and price of the marketing mix were associated with travel behaviors in the aspect of the number of visits used and the budget on tourism.

Keywords: floating market, marketing mix, tourism attractions, travelling behavior

Procedia PDF Downloads 275

Authors: Seyyed Hossein Alavi, Soudabe Mehri Talarposhti

Abstract:

Passages urban landscape is made up of various components that the component parts of the whole and vice versa has relationships. In today’s cities, we have not seen a dual relationship and only one side of the equation which is the relationships of the component parts are considered. However, the effect of the component to whole is stronger and also longer. This means that every time the outer shell of the building was constructed instant impact on the viewers while it takes a long time to understand the impact of the building in its environment and basically, it seems city portrait has the sensory and untouchable effect on observer. Today, building facades are designated individually and in isolation from the context. Designers are familiar with the details of the facade, but they are not informed with the science of combination and its impact on portrait. The importance of city and also more important than that, the city portrait haven’t confirmed for those involved in the building and authorities and the construction been changed to a market for more glaring taste of designers and attracting more business and the city and its landscape has been forgotten. This essay is an attempt to collect a part of the principles and definitions needed on perspective issues and portrait, and it is hoped that it will open arena for more research and studies in this field and other related fields.

Keywords: facade, urban housing, urban design, sustainable architecture

Procedia PDF Downloads 470

Authors: Yangrae Cho, Jinseok Kim, Yongtae Park

Abstract:

Mobile app service ecosystem has been abruptly emerged, explosively grown, and dynamically transformed. In contrast with product markets in which product sales directly cause increment in firm’s income, customer’s usage is less visible but more valuable in service market. Especially, the market situation with cutthroat competition in mobile app store makes securing and keeping of users as vital. Although a few service firms try to manage their apps’ usage patterns by fitting on S-curve or applying other forecasting techniques, the time series approaches based on past sequential data are subject to fundamental limitation in the market where customer’s attention is being moved unpredictably and dynamically. We therefore propose a new conceptual approach for detecting usage pattern of mobile app service with Hidden Markov Model (HMM) which is based on the dual stochastic structure and mainly used to clarify unpredictable and dynamic sequential patterns in voice recognition or stock forecasting. Our approach could be practically utilized for app service firms to manage their services’ lifecycles and academically expanded to other markets.

Keywords: mobile app service, usage pattern, Hidden Markov Model, pattern detection

Procedia PDF Downloads 325

Authors: Pichamon Chansuchai

Abstract:

This paper studied the expanding market opportunity palm oil ASEAN community: case study of Choomporn Palm Oil Cooperative as qualitative research. The purpose is to study and analyze expanding and linking the liberalization of trade in palm oil products under the terms of cooperation and ASEAN countries. Collection data were collected using participatory observation, in-depth interviews, focus groups, government officials, palm oil cooperative, entrepreneurs and farmers to exchange opinions. The study found that of major competitors is Indonesia and Malaysia which as ASEAM members countries has the potential to produce over Thailand. Thailand government must have a policy to increase the competitiveness of the palm oil Thailand. Using grants from the Free Trade Area fund should add value to agricultural products, palm oil and the development of standard products to meet the needs of the member countries. And creating a learning center of the palm oil sector can transfer knowledge, development of palm species, solution process from planting to harvest care privatization process. And the development of palm oil in order to expand market opportunities for Thailand's palm oil has the potential to be competitive in the neighboring countries and the region.

Keywords: palm oil, market, cooperative, ASEAN

Procedia PDF Downloads 481

Authors: Giuliana Scuderi, Patrick Teuffel

Abstract:

The proven vulnerability of the existing social housing building heritage to natural or induced earthquakes requires the development of new design concepts and conceptual method to preserve materials and object, at the same time providing new performances. An integrate intervention between civil engineering, building physics and architecture can convert the social housing districts from a critical part of the city to a strategic resource of revitalization. Referring to bio-mimicry principles the present research proposes a taxonomy with the exoskeleton of the insect, an external, light and resistant armour whose role is to protect the internal organs from external potentially dangerous inputs. In the same way, a “building exoskeleton”, acting from the outside of the building as an enclosing cage, can restore, protect and support the existing building, assuming a complex set of roles, from the structural to the thermal, from the aesthetical to the functional. This study evaluates the structural efficiency of shape memory alloys devices (SMADs) connecting the “building exoskeleton” with the existing structure to rehabilitate, in order to prevent the out-of-plane collapse of walls and for the passive dissipation of the seismic energy, with a calibrated operability in relation to the intensity of the horizontal loads. The two case studies of a masonry structure and of a masonry structure with concrete frame are considered, and for each case, a theoretical social housing building is exposed to earthquake forces, to evaluate its structural response with or without SMADs. The two typologies are modelled with the finite element program SAP2000, and they are respectively defined through a “frame model” and a “diagonal strut model”. In the same software two types of SMADs, called the 00-10 SMAD and the 05-10 SMAD are defined, and non-linear static and dynamic analyses, namely push over analysis and time history analysis, are performed to evaluate the seismic response of the building. The effectiveness of the devices in limiting the control joint displacements resulted higher in one direction, leading to the consideration of a possible calibrated use of the devices in the different walls of the building. The results show also a higher efficiency of the 00-10 SMADs in controlling the interstory drift, but at the same time the necessity to improve the hysteretic behaviour, to maximise the passive dissipation of the seismic energy.

Keywords: adaptive structure, biomimetic design, building exoskeleton, social housing, structural envelope, structural retrofitting

Procedia PDF Downloads 412

Authors: Ioana Neamtu

Abstract:

This paper investigates the potential for demand-side management for the system price in the Nordic electricity market and the price effects of introducing wind-power into the system. The model proposed accounts for the micro-structure of the Nordic electricity market by modeling each hour individually, while still accounting for the relationship between the hours within a day. This flexibility allows us to explore the differences between peak and shoulder demand hours. Preliminary results show potential for demand response management, as indicated by the price elasticity of demand as well as a small but statistically significant decrease in price, given by the wind power penetration. Moreover, our study shows that these effects are stronger during day-time and peak hours,compared to night-time and shoulder hours.

Keywords: structural model, GMM estimation, system of equations, electricity market

Procedia PDF Downloads 424

Authors: J. B. Akshataeva, G. T. Aigarinova, A. Amankulova, D. S. Kalkanova

Abstract:

This article examines some aspects of the insurance of agricultural activities, strategic documents on deepening investment opportunities. Insurance market development is before the society and the state. It also examines problems of agricultural insurance development in the market economy of Kazakhstan as the basis for food security.

Keywords: agriculture, food safety, insurance, privacy issues

Procedia PDF Downloads 490

Authors: A. A. Adebayo, O. Osibanjo

Abstract:

Informal electronic waste (e-waste) processing is a crude method of recycling, which is on the increase in Nigeria. The release of hazardous substances such as heavy metals (HMs) into the environment during informal e-waste processing has been a major concern. However, there is insufficient information on environmental contamination from e-waste recycling, associated ecological risk in Alaba International Market, a major electronic market in Lagos, Nigeria. The aims of this study were to determine the levels of HMs in soil, resulting from the e-waste recycling; and also assess associated ecological risks in Alaba international market. Samples of soils (334) were randomly collected seasonally for three years from fourteen selected e-waste activity points and two control sites. The samples were digested using standard methods and HMs analysed by inductive coupled plasma optical emission. Ecological risk was estimated using Ecological Risk index (ER), Potential Ecological Risk index (RI), Index of geoaccumulation (Igeo), Contamination factor (Cf) and degree of contamination factor (Cdeg). The concentrations range of HMs (mg/kg) in soil were: 16.7-11200.0 (Pb); 14.3-22600.0 (Cu); 1.90-6280.0 (Ni), 39.5-4570.0 (Zn); 0.79-12300.0 (Sn); 0.02-138.0 (Cd); 12.7-1710.0 (Ba); 0.18-131.0 (Cr); 0.07-28.0 (V), while As was below detection limit. Concentrations range in control soils were 1.36-9.70 (Pb), 2.06-7.60 (Cu), 1.25-5.11 (Ni), 3.62-15.9 (Zn), BDL-0.56 (Sn), BDL-0.01 (Cd), 14.6-47.6 (Ba), 0.21–12.2 (Cr) and 0.22-22.2 (V). The trend in ecological risk index was in the order Cu > Pb > Ni > Zn > Cr > Cd > Ba > V. The potential ecological risk index with respect to informal e-waste activities were: burning > dismantling > disposal > stockpiling. The index of geo accumulation indices revealed that soils were extremely polluted with Cd, Cu, Pb, Zn and Ni. The contamination factor indicated that 93% of the studied areas have very high contamination status for Pb, Cu, Ba, Sn and Co while Cr and Cd were in the moderately contaminated status. The degree of contamination decreased in the order of Sn > Cu > Pb >> Zn > Ba > Co > Ni > V > Cr > Cd. Heavy metal contamination of Alaba international market environment resulting from informal e-waste processing was established. Proper management of e-waste and remediation of the market environment are recommended to minimize the ecological risks.

Keywords: Alaba international market, ecological risk, electronic waste, heavy metal contamination

Procedia PDF Downloads 186

Authors: Aggrey Daniel Maina Thuo

Abstract:

Rapid urban population growth means an increasing demand for urban land, particularly for housing, and also for various other urban uses. This land is not available within cities but in peri-urban areas. The expansion of the cities into the peri-urban areas is creating direct and indirect impacts with those living there facing new challenges and opportunities in meeting their life needs and accommodating the by-products of urbanization. Although urbanization of these areas provides opportunities for employment, better housing, education, knowledge and technology transfer, and ready markets for the agricultural products, increase in population places enormous stress on natural resources and existing social services and infrastructure, therefore causing environmental degradation. This environmental degradation is affecting agriculture for those still holding onto their farms for agricultural purposes. This paper, using a multiple theoretical framework and qualitative research approach, attempts to describe the positive and adverse effects of urbanization on peri-urban agriculture, using the Town Council of Karuri within Nairobi peri-urban areas as a case study.

Keywords: peri-urban agriculture, urbanization, land use, environmental degradation, planning

Procedia PDF Downloads 346

Authors: Cansu Civelek

Abstract:

The flexible and uneven character of neoliberalism has provided adaptation of urban strategies into the constantly changing circumstances in order to renew and reproduce the neoliberal accumulation model. Instrumentalization of catastrophic events to this end has been one of those global urban strategies. Regarding Turkey, exploitation of natural disasters has been the latest tactic of the Justice and Development Party (JDP) government to achieve radical economic goals. ‘Unhealthy’ and ‘risky’ structures of squatter settlements have often been articulated while the regenerations, expropriations, and exclusions have been sugarcoated through the discourses of ‘reintegrating the shanty zones into the cities’, ‘supplying healthy housing’, and ‘win-win’ character of the projects. Being the first regeneration project of Eskişehir, the Karapınar Regeneration Project has been initiated in 2011 by the partnership of the Odunpazarı Municipality of the JDP and the Mass Housing Organization. Discourses around the forthcoming disasters, ‘risky structures’ of the squatters, and the importance of the ‘security of life and property’ have been utilized, even though the zone is situated on a geotechnically stable area. Yet, many of the locals are worried about the payments while some have already decided to move elsewhere at the outskirts of the city.

Keywords: neoliberal urbanism, urban regeneration, illegal settlements, discourses

Procedia PDF Downloads 429

Authors: Emanuele Peggi

Abstract:

The regulation of competitive takeover bids is one of the most problematic issues of any legislation on takeovers since it concerns a particular type of market, that of corporate control, whose peculiar characteristic is that companies represent "assets" unique of their kind, for each of which there will be a relevant market characterized by the presence of different subjects interested in acquiring control. Firstly, this work aims to analyze, from a comparative point of view, the regulation of takeover bids in competitive scenarios, characterized by the presence of multiple takeover bids for the same target company, and contribute to the debate on the impact that various solutions adopted in some legal systems examined (Italy, UK, and USA) have had on the efficiency of the market for corporate control. Secondly, the different auction models identified by the economic literature and their possible applications to corporate acquisitions in competitive scenarios will be examined, as well as the consequences that the application of each of them causes on the efficiency of the market for corporate control and the interests of the target shareholders. The scope is to study the possibility of attributing to the management of the target company the power to design the auction in order to better protect the interests of shareholders through the adoption of ad hoc models according to the specific context. and in particular on the ground of their assessment of the buyer's risk profile.

Keywords: takeovers, auction theory, shareholders, target company

Procedia PDF Downloads 166

Authors: Aminur Rahman

Abstract:

The Unique feature of BROTHERS Furniture sofa stands in ergonomic Design, skilled hand work and art work. Present world market is passing through a contentious competitive situation that is rapidly and dramatic. Competitive strategy concerns how to create competitive advantage in upholstery businesses. In order to competitive advantage in upholstery sofa market, Design and develop a sofa that have to ergonomic features. Design an ergonomic upholstery sofa knowing and understanding the appropriate seat depth, seat height, angle between Seat & back, back height which is concurrent market demand, world class sofa has to incorporate ergonomic factors. The study the relationships between human, seat and context variables comfort and discomfort. We must have conduct market survey among users whose are need and use sofa. Health & safety factors should be examined from a variety of angle. An attractive design and meet customer requirements, ergonomically fit should be considered for sofa development. This paper will explain how to design & develop sofa’s as per standard specifications which have ergonomic features for users all over the world.

Keywords: ergonomics, angle between seat & back, standard dimension, seat comfort

Procedia PDF Downloads 127

Authors: Josiane R. Pires, Marco A. S. González, Bruna L. Brenner, Luciana S. Roos

Abstract:

The concern with sustainability brought the need for optimization of the buildings to reduce consumption of natural resources. Almost 1/3 of energy demanded by Brazilian housings is used to provide thermal solutions. AEC sector may contribute applying bioclimatic strategies on building design. The aim of this research is to investigate the viability of applying some alternative solutions in residential buildings. The research was developed with computational simulation on single family social housing, examining envelope type, absorptance, and insolation. The analysis of the thermal performance applied both Brazilian standard NBR 15575 and degree-hour method, in the scenery of Porto Alegre, a southern Brazilian city. We used BIM modeling through Revit/Autodesk and used Energy Plus to thermal simulation. The payback of the investment was calculated comparing energy savings and building costs, in a period of 50 years. The results shown that with the increment of envelope’s insulation there is thermal comfort improvement and energy economy, with a pay-back period of 24 to 36 years, in some cases.

Keywords: civil construction, design, thermal performance, energy, economic analysis

Procedia PDF Downloads 542

Authors: Md. Shafiullah, Ali T. Al-Awami

Abstract:

This project proposes optimal scheduling of imported power of a load aggregator with the utilization of EVs to maximize its profit. As with the increase of renewable energy resources, electricity price in competitive market becomes more uncertain and, on the other hand, with the penetration of renewable distributed generators in the distribution network the predicted load of a load aggregator also becomes uncertain in real time. Though there is uncertainties in both load and price, the use of EVs storage capacity can make the operation of load aggregator flexible. LA submits its offer to day-ahead market based on predicted loads and optimized use of its EVs to maximize its profit, as well as in real time operation it uses its energy storage capacity in such a way that it can maximize its profit. In this project, load aggregators profit maximization algorithm is formulated and the optimization problem is solved with the help of CVX. As in real time operation the forecasted loads differ from actual load, the mismatches are settled in real time balancing market. Simulation results compare the profit of a load aggregator with a hypothetical group of 1000 EVs and without EVs.

Keywords: CVX, electricity market, load aggregator, load and price uncertainties, profit maximization, real time balancing operation

Procedia PDF Downloads 401

Authors: Ezgi Avci-Surucu, Doganbey Akgul

Abstract:

Turkey’s energy reforms has achieved energy security through a variety of interlinked measures including electricity, gas, renewable energy and energy efficiency legislation; the establishment of an energy sector regulatory authority; energy price reform; the creation of a functional electricity market; restructuring of state-owned energy enterprises; and private sector participation through privatization and new investment. However, current strategies, namely; “Electricity Sector Reform and Privatization Strategy” and “Electricity Market and Supply Security Strategy” has been criticized for various aspects. The present paper analyzes the implementation of the aforementioned strategies in the framework of generation scheduling, transmission constraints, bidding structure and general aspects; and argues the deficiencies of current strategies which decelerates power investments and creates uncertainties. We conclude by policy suggestions to eliminate these deficiencies in terms of price and risk management, infrastructure, customer focused regulations and systematic market development.

Keywords: electricity markets, risk management, regulations, balancing and settlement, bilateral trading, generation scheduling, bidding structure

Procedia PDF Downloads 544

Authors: P. Sankar, P. James Daniel Paul, Siddhant Sahu

Abstract:

A brief review of the empirical studies on the methodology of the stock market decision support would indicate that they are at a threshold of validating the accuracy of the traditional and the fuzzy, artificial neural network and the decision trees. Many researchers have been attempting to compare these models using various data sets worldwide. However, the research community is on the way to the conclusive confidence in the emerged models. This paper attempts to use the automotive sector stock prices from National Stock Exchange (NSE), India and analyze them for the intra-sectorial support for stock market decisions. The study identifies the significant variables and their lags which affect the price of the stocks using OLS analysis and decision tree classifiers.

Keywords: Indian automotive sector, stock market decisions, equity portfolio analysis, decision tree classifiers, statistical data analysis

Procedia PDF Downloads 470

Authors: Robert Grzeszczak, Magdalena Gniadzik

Abstract:

The article deals with one of the most significant issues concerning the functioning of the internal market of the European Union – the free movement of workers and free movement of persons. The purpose is to identify the political and legal effects of the “renationalisation process” on the EU and its Member States. The concept of renationalisation is expressed through Member States’ aim to verify the relationship with the EU. The tendency is more visible in the public opinion of several MS’s of the ‘EU core’ and may be confirmed by the changes applied by the regulatory body. The thesis for the article is the return of renationalisation tendencies in the area of the Single Market, which is supported by, among others, an open criticism of the foundations of EU integration or considerations on withdrawal from the EU by some MS. This analysis will focus primarily on the effects that renationalisation may have on the free movement of persons. The free movement of persons is one of the key issues for the development of the European integration. It is still subject to theoretical reflections, new doubts and practical issues. The latest developments in politics, law and jurisprudence demonstrate the need to reflect on the attempts to redefine certain principles regarding migrant EU workers and their protection against nationality-based discrimination.

Keywords: European Union, Singel Market, free movement of persons, posting of workers

Procedia PDF Downloads 220

Authors: Ruba Hamed, Khaled Hussainey, Basiem Al-Shattarat, Wasim Al-Shattarat

Abstract:

This paper examines how the influence of mandating corporate social responsibility reporting (CSR) on subsequent financial performance through accounting-based measures and market-based measures. We provide evidence about the negative impact of reporting CSR voluntarily on the firm’s future performance due to the increased spending on and costs related to such activities. On the contrary, mandating CSR reporting enhances firms’ future performance by signalling to the market about the firm’s positive stance towards sustainability issues in the UK. Our findings are of interest to regulation setters and stakeholders with respect to mandatory CSR reporting and provide further insight and feedback into accounting and reporting practices.

Keywords: accounting-based performance, mandatory CSR, mandatory regulation, market-based performance

Procedia PDF Downloads 112