Search results for: interest free banking

Authors: K. Verma, v. S. Moholkar

Abstract:

In developed countries, water pollution caused by industrial discharge has emerged as a significant environmental concern over the past decades. However, despite ongoing efforts, a fully effective and sustainable remediation strategy has yet to be identified. This paper describes how enzymatic and sonochemical treatments have demonstrated great promise in degrading bio-refractory pollutants. Mainly, a compelling area of interest lies in the combined technique of sono-enzymatic treatment, which has exhibited a synergistic enhancement effect surpassing that of the individual techniques. This study employed the covalent attachment method to immobilize Laccase from Trametes versicolor onto amino-functionalized magnetic Fe₃O₄ nanoparticles. To comprehensively characterize the synthesized free nanoparticles and the laccase-immobilized nanoparticles, various techniques such as X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FT-IR), scanning electron microscope (SEM), vibrating sample magnetometer (VSM), and surface area through Brunauer-Emmett-Teller (BET) were employed. The size of immobilized Fe₃O₄@Laccase was found to be 60 nm, and the maximum loading of laccase was found to be 24 mg/g of nanoparticle. An investigation was conducted to study the effect of various process parameters, such as immobilized Fe₃O₄ Laccase dose, temperature, and pH, on the % Chemical oxygen demand (COD) removal as a response. The statistical design pinpointed the optimum conditions (immobilized Fe₃O₄ Laccase dose = 1.46 g/L, pH = 4.5, and temperature = 66 oC), resulting in a remarkable 65.58% COD removal within 60 minutes. An even more significant improvement (90.31% COD removal) was achieved with ultrasound-assisted enzymatic reaction utilizing a 10% duty cycle. The investigation of various kinetic models for free and immobilized laccase, such as the Haldane, Yano, and Koga, and Michaelis-Menten, showed that ultrasound application impacted the kinetic parameters Vmax and Km. Specifically, Vmax values for free and immobilized laccase were found to be 0.021 mg/L min and 0.045 mg/L min, respectively, while Km values were 147.2 mg/L for free laccase and 136.46 mg/L for immobilized laccase. The lower Km and higher Vmax for immobilized laccase indicate its enhanced affinity towards the substrate, likely due to ultrasound-induced alterations in the enzyme's confirmation and increased exposure of active sites, leading to more efficient degradation. Furthermore, the toxicity and Liquid chromatography-mass spectrometry (LC-MS) analysis revealed that after the treatment process, the wastewater exhibited 70% less toxicity than before treatment, with over 25 compounds degrading by more than 75%. At last, the prepared immobilized laccase had excellent recyclability retaining 70% activity up to 6 consecutive cycles. A straightforward manufacturing strategy and outstanding performance make the recyclable magnetic immobilized Laccase (Fe₃O₄ Laccase) an up-and-coming option for various environmental applications, particularly in water pollution control and treatment.

Keywords: kinetic, laccase enzyme, sonoenzymatic, ultrasound irradiation

Procedia PDF Downloads 40

Authors: Parya Nasehi, Mohammad Kazem Mohammadi

Abstract:

3,4-dihydropyrimidin-2(1H)-thiones were synthesized in the presence of Ag nanoparticle/melamine sulfonic acid (MSA) supported on alumina. The reaction was carried out at 110 oC for 20 min under solvent free conditions. This method have some advantages such as good yield, mild reaction conditions, ease of operation and work up, short reaction time and high product purity.

Keywords: nanoparticle melamine sulfonic acid, Al2O3, Biginelli reaction, 3, 4-dihydropyrimidin-2(1H, solvent free

Procedia PDF Downloads 484

Authors: Zs. Kovács, Zs. J. Viharos, J. Kodácsy

Abstract:

As a well-known conventional finishing process, the grinding is commonly used to manufacture seal mating surfaces and bearing surfaces, but is also creates twisted surfaces. The machined surfaces by turning or grinding usually have twist structure on the surfaces, which can convey lubricants such as conveyor screw. To avoid this phenomenon, have to use special techniques or machines, for example start-stop turning, tangential turning, ultrasonic protection or special toll geometries. All of these solutions have high cost and difficult usability. In this paper, we describe a system and summarize the results of the experimental research carried out mainly in the field of Magnetic Abrasive Polishing (MAP) and Magnetic Roller Burnishing (MRB). These technologies are simple and also green while able to produce twist-free surfaces. During the tests, C45 normalized steel was used as workpiece material which was machined by simple and Wiper geometrical turning inserts in a CNC turning lathe. After the turning, the MAP and MRB technologies can be used directly to reduce the twist of surfaces. The evaluation was completed by advanced measuring and IT equipment.

Keywords: magnetism, finishing, polishing, roller burnishing, twist-free

Procedia PDF Downloads 556

Authors: Wael Bakhit, Salma Bakhit

Abstract:

This paper employs a quarterly time series to determine the timing of structural breaks for interest rates in USA over the last 60 years. The Chow test is used for investigating the non-stationary, where the date of the potential break is assumed to be known. Moreover, an empirical examination of the financial sector was made to check if it is positively related to deviations from an assumed interest rate as given in a standard Taylor rule. The empirical analysis is strengthened by analysing the rule from a historical perspective and a look at the effect of setting the interest rate by the central bank on financial imbalances. The empirical evidence indicates that deviation in monetary policy has a potential causal factor in the build-up of financial imbalances and the subsequent crisis where macro prudential intervention could have beneficial effect. Thus, our findings tend to support the view which states that the probable existence of central banks has been a source of global financial crisis since the past decade.

Keywords: Taylor rule, financial imbalances, central banks, econometrics

Procedia PDF Downloads 367

Authors: Zeynep Aykul Yavuz

Abstract:

Misconception about design is about making a product pretty. However, the holistic approaches such as design thinking or human-centered design could take the design from making things nice to things inspired by real people and work with real-world limitations. Design thinking helps companies to understand not only problem area but also opportunities. It can be used by any people from any background which provide a space for companies where employees from different departments work together to solve the same problem. While demanding skills changing year to year into the market, previous technical skills are commons anymore. The frontier companies in the sectors look for interactive methods to solve problems. Moreover, the recruiter aims to understand the candidate’s design thinking skills (. The study includes a case study where a 21st century creative services company “ATÖLYE” offers innovation transformation with design thinking to a banking company. Both companies are located in İstanbul in Turkey. The banking company contacted with the ATÖLYE in January 2018 because they heard design thinking in different markets and how it transformed the way of working. The transformation process had 3 phases which were basic training of teams while getting coaching from ATÖLYE’s employees, coaching training with graduates of basic training, facilitator training. Employees built new skills while solving the banking company’s strategic problems. ATÖLYE offered experiential learning which helped employees’ making sense of new skills and knowledge. One day workshops were organized to create awareness about the practice of design thinking. In addition to these, a community of practice was built to create an environment to make reflections and discuss good practice. Not only graduates from the training program but also other employees from the company participated in the community gatherings. ATÖLYE did not train some employees in the company. Rather than that, its aim was to build a contemporary organization for the company. This provided a sustainable system in terms of human resources and motivation. At the beginning of 2020, employees from the first cohort in the basic training who took coaching training and facilitator training have started to design training for different groups in the company. They have considered what could be better in their training experience and designed new ones according to that, so they have been using design thinking to design the design training. This is one of the outcomes which shows the impact of all process clearly.

Keywords: design thinking, learning community, professional development, training, organizational transformation

Procedia PDF Downloads 95

Authors: Youb Said, Fourar Ali

Abstract:

To describe the influence of bottom roughness on the free surface flows by numerical modeling, a two-dimensional model was developed. The equations of continuity and momentum (Naviers Stokes equations) are solved by the finite volume method. We considered a turbulent flow in an open channel with a bottom roughness. For our simulations, the K-ε model was used. After setting the initial and boundary conditions and solve the equations set, we were able to achieve the following results: vortex forming in the hollow causing substantial energy dissipation in the obstacle areas that form the bottom roughness. The comparison of our results with experimental ones shows a good agreement in terms of the results in the rough area. However, in other areas, differences were more or less important. These differences are in areas far from the bottom, especially the free surface area just after the bottom. These disagreements are probably due to experimental constants used by the k-ε model.

Keywords: modeling, free surface flow, turbulence, bottom roughness, finite volume, K-ε model, energy dissipation

Procedia PDF Downloads 364

Authors: Aqeel Akhtar

Abstract:

One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

Procedia PDF Downloads 216

Authors: Fatih Özogul, Nurten Toy, Yesim Özogul

Abstract:

The influences of cell-free solutions (CFSs) of lactic acid bacteria (LAB) on cadaverine and other biogenic amine production by Listeria monocytogenes and Staphylococcus aureus were investigated in lysine decarboxylase broth (LDB) using HPLC. Cell-free solutions were prepared from Lactococcus lactis subsp. lactis, Leuconostoc mesenteroides subsp. cremoris, Pediococcus acidophilus and Streptococcus thermophiles. Two different concentrations that were 50% and 25% CFS and the control without CFSs were prepared. Significant variations on biogenic amine production were observed in the presence of L. monocytogenes and S. aureus (P<0.05). The role of CFS on biogenic amine production by foodborne pathogens varied depending on strains and specific amine. Cadaverine formation in control by L. monocytogenes and S. aureus were 500.9 and 948.1 mg/L, respectively while the CFSs of LAB induced 4-fold lower cadaverine production by L. monocytogenes and 7-fold lower cadaverine production by S. aureus. CFSs resulted in strong decreases in cadaverine and putrescine production by L. monocytogenes and S. aureus, although remarkable increases were observed for histamine, spermidine, spermine, serotonin, dopamine, tyramine, and agmatine, in the presence of LAB in lysine decarboxylase broth.

Keywords: cell-free solution, lactic acid bacteria, cadaverine, food borne-pathogen

Procedia PDF Downloads 516

Authors: Sonia Ben Hamza, Sabra Habli, Nejla Mahjoub Said, Hervé Bournot, Georges Le Palec

Abstract:

The distribution characteristics of pollutants released at different vertical inlet positions of an open channel are investigated with a three-dimensional numerical model. Pollutants are injected from time-dependent sources in a turbulent free surface flow. Numerical computations were carried out using ANSYS Fluent which is based on the finite volume approach. The air/water interface was modeled with the volume of the fluid method (VOF). By focusing on investigating the influences of flow on pollutants, it is found that pollutant released from the bottom position of the channel takes more time to disperse in the longitudinal direction of the flow in comparison with the case of pollutant released near the free surface. On the other hand, the pollutant released from the bottom position generates a vertical dispersion with decreased amplitude. These findings may assist in cost-effective scientific countermeasures to be taken for accident or planned pollutant discharged into a river.

Keywords: numerical simulation, pollutant release, turbulent free surface flow, VOF model

Procedia PDF Downloads 490

Authors: Hessam Mortezaei, Saeid Joudakian

Abstract:

In this paper, the wear problem on rider rings of boil off gas compressor has been studied. This kind of oil free double acting compressor has free floating piston (FFP) technology and as a result of that it should have the lowest possible wear on its rider rings. But a design problem had caused a complete wear of rider rings after one month of continuous operation. In this case study, the source of this problem was recognized and solved.

Keywords: piston rider, rings, gas distribution, pressure wear

Procedia PDF Downloads 340

Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

Abstract:

Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

Procedia PDF Downloads 279

Authors: Wing Mui Winnie So, Tian Luo, Zeyu Han

Abstract:

To fully explore and develop the potentials of gifted students systematically and strategically by providing them with opportunities to receive education at appropriate levels, schools in Hong Kong are encouraged to adopt the "Three-Tier Implementation Model" to plan and implement the school-based gifted education, with Level Three refers to the provision of learning opportunities for the exceptionally gifted students in the form of specialist training outside the school setting by post-secondary institutions, non-government organisations, professional bodies and technology enterprises. Due to the growing concern worldwide about low interest among students in pursuing STEM (Science, Technology, Engineering, and Mathematics) careers, cultivating and boosting STEM career interest has been an emerging research focus worldwide. Although numerous studies have explored its critical contributors, little research has examined the effectiveness of comprehensive interventions such as “Studying with STEM professional”. This study aims to examine the effect on gifted students’ career interest during their participation in an off-school support programme designed and supervised by a team of STEM educators and STEM professionals from a university. Gifted students were provided opportunities and tasks to experience STEM career topics that are not included in the school syllabus, and to experience how to think and work like a STEM professional in their learning. Participants involved 40 primary school students joining the intervention programme outside the normal school setting. Research methods included adopting the STEM career interest survey and drawing tasks supplemented with writing before and after the programme, as well as interviews before the end of the programme. The semi-structured interviews focused on students’ views regarding STEM professionals; what’s it like to learn with a STEM professional; what’s it like to work and think like a STEM professional; and students’ STEM identity and career interest. The changes in gifted students’ STEM career interest and its well-recognised significant contributors, for example, STEM stereotypes, self-efficacy for STEM activities, and STEM outcome expectation, were collectively examined from the pre- and post-survey using T-test. Thematic analysis was conducted for the interview records to explore how studying with STEM professional intervention can help students understand STEM careers; build STEM identity; as well as how to think and work like a STEM professional. Results indicated a significant difference in STEM career interest before and after the intervention. The influencing mechanism was also identified from the measurement of the related contributors and the analysis of drawings and interviews. The potential of off-school support programme supervised by STEM educators and professionals to develop gifted students’ STEM career interest is argued to be further unleashed in future research and practice.

Keywords: gifted students, STEM career, STEM education, STEM professionals

Procedia PDF Downloads 48

Authors: Abdul Ghaffar Memon, Xiao Hong Zhou, Yunpeng Xing, Ruoyu Wang, Miao He

Abstract:

Due to deleterious environmental and health effects of the Hg²⁺ ions, various online, detection methods apart from the traditional analytical tools have been developed by researchers. Biosensors especially, label, label-free, colorimetric and optical sensors have advanced with sensitive detection. However, there remains a gap of ultrasensitive quantification as noise interact significantly especially in the AuNP based label-free colorimetry. This study reported an amplification strategy using Exo-III enzyme for target recycling of Hg²⁺ ions in a T-rich hairpin loop metallobase label-free colorimetric nanosensor with an improved sensitivity using unmodified gold nanoparticles (uGNPs) as an indicator. The two T-rich metallobase hairpin loop structures as 5’- CTT TCA TAC ATA GAA AAT GTA TGT TTG -3 (HgS1), and 5’- GGC TTT GAG CGC TAA GAA A TA GCG CTC TTT G -3’ (HgS2) were tested in the study. The thermodynamic properties of HgS1 and HgS2 were calculated using online tools (http://biophysics.idtdna.com/cgi-bin/meltCalculator.cgi). The lab scale synthesized uGNPs were utilized in the analysis. The DNA sequence had T-rich bases on both tails end, which in the presence of Hg²⁺ forms a T-Hg²⁺-T mismatch, promoting the formation of dsDNA. Later, the Exo-III incubation enable the enzyme to cleave stepwise mononucleotides from the 3’ end until the structure become single-stranded. These ssDNA fragments then adsorb on the surface of AuNPs in their presence and protect AuNPs from the induced salt aggregation. The visible change in color from blue (aggregation stage in the absence of Hg²⁺) and pink (dispersion state in the presence of Hg²⁺ and adsorption of ssDNA fragments) can be observed and analyzed through UV spectrometry. An ultrasensitive quantitative nanosensor employing Exo-III assisted target recycling of mercury ions through label-free colorimetry with nanomolar detection using uGNPs have been achieved and is further under the optimization to achieve picomolar range by avoiding the influence of the environmental matrix. The proposed strategy will supplement in the direction of uGNP based ultrasensitive, rapid, onsite, label-free colorimetric detection.

Keywords: colorimetric, Exo-III, gold nanoparticles, Hg²⁺ detection, label-free, signal amplification

Procedia PDF Downloads 289

Authors: M. Barsa

Abstract:

This paper argues that current jurisprudence under the Dormant Commerce Clause of the United States Constitution and the WTO should be altered to allow states to more freely foster clean energy production. In particular, free trade regimes typically prevent states from discriminating against 'like' products, and whether these products are considered 'like' is typically measured by how they appear to the consumer. This makes it challenging for states to discriminate in favor of clean energy, such as low-carbon fuels. However, this paper points out that certain courts in the US—and decisions of the WTO—have already begun taking into account how a product is manufactured in order to determine whether a state may discriminate against it. There are also compelling reasons for states to discriminate against energy sources with high carbon footprints in order to allow those states to protect themselves against climate change. In other words, fuel sources with high and low carbon footprints are not, in fact, 'like' products, and courts should more freely recognize this in order to foster clean energy production.

Keywords: clean energy, climate change, discrimination, free trade

Procedia PDF Downloads 105

Authors: Boukhadia Karima

Abstract:

The fluid mechanics is the study of fluid motion laws and their interaction with solid bodies, this project leads to illustrate this interaction with depth studies and approved by experiments on the wind tunnel TE44, ensuring the efficiency, accuracy and reliability of these tests on a NACA0015 profile. A symmetric NACA0015 was placed in a subsonic wind tunnel, and measurements were made of the pressure on the upper and lower surface of the wing and of the velocity across the vortex trailing downstream from the tip of the wing. The aim of this work is to investigate experimentally the scattered pressure profile in a free airflow and the aerodynamic forces acting on this profile. The addition of around-lateral edge to the wing tip was found to eliminate the secondary vortex near the wing tip, but had little effect on the downstream characteristics of the trailing vortex. The increase in wing lift near the tip because of the presence of the trailing vortex was evident in the surface pressure, but was not captured by circulation-box measurements. The circumferential velocity within the vortex was found to reach free-stream values and produce core rotational speeds. Near the wing, the trailing vortex is asymmetric and contains definite zones where the stream wise velocity both exceeds and falls behind the free-stream value. When referenced to the free stream velocity, the maximum vertical velocity of the vortex is directly dependent on α and is independent of Re. A numerical study was conducted through a CFD code called FLUENT 6.0, and the results are compared with experimental.

Keywords: CFD code, NACA Profile, detachment, angle of incidence, wind tunnel

Procedia PDF Downloads 387

Authors: L. Totladze

Abstract:

The role of financial sector in supporting economic growth and development is well acknowledged. The term spread (the difference between the yields on long-term and short-term Treasury securities) has been found useful for predicting economic variables as output growth, inflation, industrial production, consumption. The temp spread is one of the leading economic indicators according to NBER methodology. Leading economic indicators are widely used in forecasting of economic activity. Many empirical studies find that the term spread predicts future economic activity. The article shortly explains how the term spread might predict future economic activity. This paper analyses the dynamics of the spread between short and long-term interest rates in countries with transition economies. The research paper analyses term spread dynamics in Georgia and compare it with post-communist countries and transition economies spread dynamics. In Georgia, the banking sector plays an important and dominant role in the financial sector, especially with respect to the mobilization of savings and provision of credit and may impact on economic activity. For this purpose, we study the impact of the term spread on economic growth in Georgia.

Keywords: forecasting, leading economic indicators, term spread, transition economies

Procedia PDF Downloads 151

Authors: Chen-Fang Tsai, Shin-Li Lu

Abstract:

Distribution-free control chart is an oncoming area from the statistical process control charts in recent years. Some researchers have developed various nonparametric control charts and investigated the detection capability of these charts. The major advantage of nonparametric control charts is that the underlying process is not specifically considered the assumption of normality or any parametric distribution. In this paper, two nonparametric exponentially weighted moving average (EWMA) control charts based on nonparametric tests, namely NE-S and NE-M control charts, are proposed for monitoring process variability. Generally, weighted moving average (GWMA) control charts are extended by utilizing design and adjustment parameters for monitoring the changes in the process variability, namely NG-S and NG-M control charts. Statistical performance is also investigated on NG-S and NG-M control charts with run rules. Moreover, sensitivity analysis is performed to show the effects of design parameters under the nonparametric NG-S and NG-M control charts.

Keywords: Distribution-free control chart, EWMA control charts, GWMA control charts

Procedia PDF Downloads 238

Authors: Hideki Kitamura

Abstract:

Since Islamic banking has broadly started in the late 1970s, Islamic economy has been paid much attention by both academia and the business world. However, despite abundant studies, descriptive exploration of practices of Islamic economy from a sociological/anthropological perspective is underrepresented, and most are basically designed for evaluating current practice or proposing ideal types of Islamic economy in accordance with their religious conviction. Overall, their interest is not paid to actors of Islamic economy such as practitioner’s decision-making and thought, while sociological/anthropological studies on Muslim’s religious life can be observed well. Herein, the paper aims to look into the possibilities of sociology/anthropology for exploration of the role of actors of Islamic economy, by revisiting the benefit of sociological/anthropological studies on the religion of Islam and its adaptability to the research on Islamic economy. The paper suggests that practices of Islamic economy can be assumed as results of practitioner’s dilemma between Islamic ideals and market realities in each society, by applying the perspective of social constructivism. The paper then proposes focusing on the human agency of practitioners in translating Islamic principles into economic behavior, thereby enabling a more descriptive inquiry into how Islamic economy is produced and operated.

Keywords: Islamic economy, economic sociology/anthropology, human agency, social constructivism

Procedia PDF Downloads 140

Authors: Ratna Kuswardani

Abstract:

This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

Procedia PDF Downloads 133

Authors: Montoya C.A., Erina J., Erina I.

Abstract:

The purpose of this research is to assess the performance and impact of CSR on business in the banking sector in Australia by applying the financial indicators of 20 ASX banks for the period from 2016-2017. The authors carried out CSR assessment in several stages of research: 1) gathering the nonfinancial and financial indicators of 20 ASX listed banks (available were only 16) from the annual reports of Australian banks for 2016 and 2017; 2) calculation of bank performance indicators using such financial indicators as return on assets (ROA), return on equity (ROE), efficiency ratio and net interest margin; 3) analysis of financial data using cross-sectional regression and answers to the research questions. Based on the obtained research results, the authors obtained answers to the initially raised research questions and came to a conclusion that Q1 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance 2016; Q2 - Insignificant negative coefficient result - slight negative relationship between CSR disclosure and business performance 2017; Q3 - Insignificant positive coefficient result - slight positive relationship between CSR disclosure and business performance.

Keywords: Australia, banks, business performance, CSR

Procedia PDF Downloads 54

Authors: Supriyono, Sumardiyono, Rendy J. Pramono

Abstract:

Biodiesel is one of the alternative fuels promising for substituting petrodiesel as energy source which has an advantage as it is sustainable and eco-friendly. Due to the raw material that tends to decompose during storage, biodiesel also has the same characteristic that tends to decompose during storage. Biodiesel decomposition will form higher acid value as the result of oxidation to double bond on a fatty acid compound on biodiesel. Thus, free fatty acid value could be used to evaluate degradation of biodiesel due to the oxidation process. High free fatty acid on biodiesel could impact on the engine performance. Decomposition of biodiesel due to oxidation reaction could prevent by introducing a small amount of antioxidant. The origin of raw materials and the process for producing biodiesel will determine the effectiveness of antioxidant. Biodiesel made from high free fatty acid (FFA) crude palm oil (CPO) by using two steps esterification is vulnerable to oxidation process which is resulted in increasing on the FFA value. Tocopherol also known as vitamin E is one of the antioxidant that could improve the stability of biodiesel due to decomposition by the oxidation process. Tocopherol 0.5% concentration on palm oil biodiesel could reduce 13% of increasing FFA under temperature 80 °C and exposing time 180 minute.

Keywords: antioxidant, palm oil biodiesel, decomposition, oxidation, tocopherol

Procedia PDF Downloads 328

Authors: Hechmi Saidi, Noureddine Hamdi

Abstract:

The performance of Decode and Forward (DF) multihop Free Space Optical ( FSO) scheme deploying Multiple Input Multiple Output (MIMO) configuration under Gamma-Gamma (GG) statistical distribution, that adopts M-ary Pulse Position Modulation (MPPM) coding, is investigated. We have extracted exact and estimated values of Symbol-Error Rates (SERs) respectively. A closed form formula related to the Probability Density Function (PDF) is expressed for our designed system. Thanks to the use of DF multihop MIMO FSO configuration and MPPM signaling, atmospheric turbulence is combatted; hence the transmitted signal quality is improved.

Keywords: free space optical, multiple input multiple output, M-ary pulse position modulation, multihop, decode and forward, symbol error rate, gamma-gamma channel

Procedia PDF Downloads 178

Authors: R. Henry, J-B. Paulin, St. Fauchille, Ph. Delord, K. Benkirane, A. Brunel

Abstract:

In this paper, the CVA computation of interest rate swap is presented based on its rating. Rating and probability default given by Moody’s Investors Service are used to calculate our CVA for a specific swap with different maturities. With this computation, the influence of rating variation can be shown on CVA. The application is made to the analysis of Greek CDS variation during the period of Greek crisis between 2008 and 2011. The main point is the determination of correlation between the fluctuation of Greek CDS cumulative value and the variation of swap CVA due to change of rating

Keywords: CDS, computation, CVA, Greek crisis, interest rate swap, maturity, rating, swap

Procedia PDF Downloads 282

Authors: Mohammad H. Al-Sayah, Khalid Jarrah, Soleiman Hisaindee

Abstract:

Hydrophobic sorbents are usually used to remove oil spills from water surfaces. In this study, the hydrophilic fibers of natural cotton were chemically modified with a solvent-free process to modify them into hydrophobic fibers that can remove oil from water surfaces. The cellulose-based fibers of cotton were reacted with trichlorosilanes through gas-solid reaction in a dry chamber. Cotton fibers were exposed to vapors of four different chloroalkylsilanes at room temperature for 24 hours. The chlorosilanes were namely trichloromethylsilane, dichlorodimethyl silane, butyltrichlorosilane, and trichloro (3,3,3-trifluoropropyl) silane. The modified cotton fibers were characterized by IR-spectroscopy, thermogravimetric analysis (TGA) and Scanning Electron Microscopy/Energy Dispersive X-Ray Spectroscopy (SEM-EDS). The degree of substitution for each of the grafted alkyl groups was in the range between 0.1 and 0.3 per glucose residue. As a result of sialylation, the cotton fibers became hydrophobic; this was reflected by water contact-angle measurements of the fibers which increased from zero for the unmodified cotton to above 100 degrees for the modified fibers. In addition, the adsorption capacity of the fibers for oil from water surfaces increased by about five times that of the unmodified cotton reaching 18 g oil/g of cotton modified by dimethyl substituted silyl ethers. The optimal fiber-oil contact time and temperature for adsorption were 10 mins at 25°C, respectively. Therefore, the efficacy of cotton fibers to remove oil spills from contaminated water surfaces was significantly enhanced by using a simple solvent-free and environment-friendly process.

Keywords: gas-solid silyl reaction, modified cellulose, solvent-free, oil pollution, cotton

Procedia PDF Downloads 140

Authors: Zhenhua Wei, Gabriel Falzone, Bu Wang, Laurent Pilon, Gaurav Sant

Abstract:

The production of ordinary Portland cement (OPC) is a CO₂ intensive process. Specifically, cement clinkering reactions require not only substantial energy in the form of heat, but also result in the release of CO₂, from limestone decarbonation and the combustion of fuel. To overcome this CO₂ intensive process, clinkering-free cementation is demonstrated by the carbonation of fly ash; i.e., a by-product of coal combustion. It is shown that in moist environments and at sub-boiling temperatures, calcium-rich fly ashes readily react with gas-phase CO₂ to provide cementation. After seven days of CO₂ exposure at 75°C, such formulations achieve a compressive strength on the order of 35 MPa and take-up 9% CO₂ (by mass of the solid). On the other hand, calcium-deficient fly ashes, due to their lack of alkalinity (i.e., abundance of mobile Ca or Mg), show little if any potential for CO₂ uptake and strength gain. The role of the CO₂ concentration and processing temperature are discussed and linked to the progress of reactions, and the development of microstructure. The outcomes demonstrate a means for enabling clinkering-free cementation while enabling beneficial utilization of CO₂ and fly ash; i.e., two abundant but underutilized industrial by-products.

Keywords: fly ash, carbonation, concrete, strength

Procedia PDF Downloads 227

Authors: Angela Justina Kumalaputri

Abstract:

Indonesia, as a maritime country, has abundant marine living resources yet has not been optimally utilized. So far, we only focusing on fisheries. In the other hand, Indonesia, as the country with the fourth longest coastline, is a very good cultivation place for microalgae. Microalgae can be diversified to many important products, such as food, fuel, pharmaceutical products, functional food, and cosmetics.This research is focusing on the literature study about types of microalgae as sources for functional foods (such as antioxidants), including the contents and the separation methods. The research methods which we use are: (1) Literature study about various microalgaes (2) Literature study about extractions using supercritical fluid of CO₂, which are free from toxic organic solvents, environmentally friendly, and safe for food products. Supercritical fluid extraction using CO₂ (low critical points: temperature at 31.1 oC and pressure at 72.9 bars) could be done at a low temperature which are suitable for temperature labile compounds, low energy, and faster extraction time compared with conventional method of extraction.

Keywords: antioxidants, supercritical fluid extraction, solvent-free extraction, microalgae

Procedia PDF Downloads 50

Authors: Mary Ann U. Baradi, Arnold R. Elepaño, Manuel Jose C. Regalado

Abstract:

Aromatic rice has become popular and continues to command higher price than ordinary rice because of its distinctive scent that makes it special. Freshly harvested aromatic rice exhibits strong aromatic scent but decreases with time and conditions during storage. Of the many volatile compounds in aromatic rice, 2-acetyl-1-pyrroline (2AP) is a major compound that gives rice its popcorn-like aroma. The diffusion mechanism of 2AP in rice was investigated. Semi-empirical models explaining 2AP diffusion as affected by temperature and duration were developed. Storage time and temperature affected 2AP loss via diffusion. The amount of 2AP in rice decreased with time. Free 2AP, being volatile, is lost due to diffusion. Storage experiment indicated rapid 2AP loss during the first five weeks and subsequently leveled off afterwards; attaining level of starch bound 2AP. Decline of 2AP during storage followed exponential equation and exhibited four stages; i.e. the initial, second, third and final stage. Free 2AP is easily lost while bound 2AP is left, only to be released upon exposure to high temperature such as cooking. Both free and bound 2AP is found in endosperm while free 2AP is in the bran. Around 63–67% of total 2AP was lost in brown and milled rice of MS 6 paddy kept at ambient. Samples stored at higher temperature (27°C) recorded higher 2AP loss than those kept at lower temperature (15°C). The study should be able to guide processors in understanding and controlling parameters in storage to produce high quality rice.

Keywords: 2-acetyl-1-pyrroline, aromatic rice, diffusion mechanism, storage

Procedia PDF Downloads 314

Authors: Parwinder Singh, Ashok Kumar

Abstract:

Aim: The aim of the study was to investigate the relationship between selected Anthropometric and physical fitness variables of Junior Free Style Wrestlers. Method: one hundred fifty (N = 150) male Junior Free Style Wrestlers were selected as subjects, and they were categorized into five groups according to their weight categories; each group was comprised of 30 wrestlers. Body Mass Index can be considered according to the World Health Organization. Body fat percentage was assessed by using Durnin and Womersley equation, and Bodyweight was checked with a weighing machine. Cardiovascular endurance was checked by the Havard Step test of junior freestyle wrestlers. Results: A statistically positive significant correlation was found between Body Weight and Body Mass Index, skinfold thickness, and Percentage Body Fat. Fitness index was observed as negatively significant relationship related with Body Weight, Percent Body Fat, and Body Mass Index. Conclusion: It is concluded that freestyle wrestling is a weight classified sport and physical fitness is the most important factor in freestyle wrestling; therefore, the correlation of the fitness index of the wrestlers with body composition is important. The results of the present study also demonstrated the effect of Age, Body Height, Body Weight, Body Mass Index, and percentage body fat of the aerobic fitness of junior freestyle wrestlers.

Keywords: aerobic fitness, anthropometry, fat percentage, free style wrestling, skinfold, strength

Procedia PDF Downloads 167

Authors: Muhammad H. Alu’datt, Inteaz Alli

Abstract:

This study was conducted to prepare and evaluate the biological properties of protein co-precipitates from flaxseed and soybean. Protein was prepared by NaOH extraction through the mixing of soybean flour (Sf) and flaxseed flour (Ff) or mixtures of soybean extract (Se) and flaxseed extract (Fe). The protein co-precipitates were precipitated by isoelectric (IEP) and isoelectric-heating (IEPH) co-precipitation techniques. Effects of extraction and co-precipitation techniques on co-precipitate yield were investigated. Native-PAGE, SDS-PAGE were used to study the molecular characterization. Content and antioxidant activity of extracted free and bound phenolic compounds were evaluated for protein co-precipitates. Removal of free and bound phenolic compounds from protein co-precipitates showed little effects on the electrophoretic behavior of the proteins or the protein subunits of protein co-precipitates. Results showed that he highest protein contents and yield were obtained in for Sf-Ff/IEP co-precipitate with values of 53.28 and 25.58% respectively as compared to protein isolates and other co-precipitates. Results revealed that the Sf-Ff/IEP showed a higher content of bound phenolic compounds (53.49% from total phenolic content) as compared to free phenolic compounds (46.51% from total phenolic content). Antioxidant activities of extracted bound phenolic compounds with and without heat treatment from Sf-Ff/IEHP were higher as compared to free phenolic compounds extracted from other protein co-precipitates (29.68 and 22.84%, respectively).

Keywords: antioxidant, phenol, protein co-precipitate, yield

Procedia PDF Downloads 209

Authors: Akshay Patil

Abstract:

Objective: Mediation analysis identifies causal pathways by testing the relationships between the NCR, the OS, and an intermediate variable that mediates the relationship between the Nimotuzumab-cisplatin-radiation (NCR) and OS. Introduction: In randomized controlled trials, the primary interest is in the mechanisms by which an intervention exerts its effects on the outcomes. Clinicians are often interested in how the intervention works (or why it does not work) through hypothesized causal mechanisms. In this work, we highlight the value of understanding causal mechanisms in randomized trial by applying causal mediation analysis in a randomized trial in oncology. Methods: Data was obtained from a phase III randomized trial (Subgroup of HPVNOCP). NCR is reported to significantly improve the OS of patients locally advanced head and neck cancer patients undergoing definitive chemoradiation. Here, based on trial data, the mediating effect of NCR on patient overall survival was systematically quantified through progression-free survival(PFS), disease free survival (DFS), Loco-regional failure (LRF), and the disease control rate (DCR), Overall response rate (ORR). Effects of potential mediators on the HR for OS with NCR versus cisplatin-radiation (CR) were analyzed by Cox regression models. Statistical analyses were performed using R software Version 3.6.3 (The R Foundation for Statistical Computing) Results: Effects of potential mediator PFS was an association between NCR treatment and OS, with an indirect-effect (IE) 0.76(0.62 – 0.95), which mediated 60.69% of the treatment effect. Taking into account baseline confounders, the overall adjusted hazard ratio of death was 0.64 (95% CI: 0.43 – 0.96; P=0.03). The DFS was also a significant mediator and had an IE 0.77 (95% CI; 0.62-0.93), 58% mediated). Smaller mediation effects (maximum 27%) were observed for LRF with IE 0.88(0.74 – 1.06). Both DCR and ORR mediated 10% and 15%, respectively, of the effect of NCR vs. CR on the OS with IE 0.65 (95% CI; 0.81 – 1.08) and 0.94(95% CI; 0.79 – 1.04). Conclusion: Our findings suggest that PFS and DFS were the most important mediators of the OS with nimotuzumab to weekly cisplatin-radiation in HPVNOCP.

Keywords: mediation analysis, cancer data, survival, NCR, HPV negative oropharyngeal

Procedia PDF Downloads 119