Search results for: price to earnings ratio

Authors: Ferruh Taspinar, Gulce K. Seyyar, Gamze Kurt, Eda O. Okur, Emrah Afsar, Ismail Saracoglu, Betul Taspinar

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Alterations of physical activity can effect body composition (especially body fat ratio); however body mass index may not sufficient to indicate these minimal differences. The aim of this study was to evaluate the relationship between body composition and physical activity in university students. In this study, 132 university students (mean age; 21.21±1.51) were included. Tanita BC-418 and International Physical Activity Questionnaire (IPAQ) were used to evaluate participants. The correlation between the parameters was analysed via Spearman correlation analysis. Significance level in statistical analyses was accepted is 0.05. The results showed that there was no correlation between body mass index and physical activity (p>0.05). There was a positive correlation between body muscle ratio and physical activity, whereas a negative correlation between body fat ratio and physical activity (p<0.05). This study showed that body fat and muscle ratio affects the level of physical activity in healthy university students. Therefore, we thought that physical activity might reduce effects of the diseases caused by disturbed body composition. Further studies are required to support this idea.

Keywords: body composition, body mass index, physical activity, university student

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Authors: Vinko Lešić, Mario Vašak, Anita Martinčević, Marko Gulin, Antonio Starčić, Hrvoje Novak

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With 40% of total world energy consumption, building systems are developing into technically complex large energy consumers suitable for application of sophisticated power management approaches to largely increase the energy efficiency and even make them active energy market participants. Centralized control system of building heating and cooling managed by economically-optimal model predictive control shows promising results with estimated 30% of energy efficiency increase. The research is focused on implementation of such a method on a case study performed on two floors of our faculty building with corresponding sensors wireless data acquisition, remote heating/cooling units and central climate controller. Building walls are mathematically modeled with corresponding material types, surface shapes and sizes. Models are then exploited to predict thermal characteristics and changes in different building zones. Exterior influences such as environmental conditions and weather forecast, people behavior and comfort demands are all taken into account for deriving price-optimal climate control. Finally, a DC microgrid with photovoltaics, wind turbine, supercapacitor, batteries and fuel cell stacks is added to make the building a unit capable of active participation in a price-varying energy market. Computational burden of applying model predictive control on such a complex system is relaxed through a hierarchical decomposition of the microgrid and climate control, where the former is designed as higher hierarchical level with pre-calculated price-optimal power flows control, and latter is designed as lower level control responsible to ensure thermal comfort and exploit the optimal supply conditions enabled by microgrid energy flows management. Such an approach is expected to enable the inclusion of more complex building subsystems into consideration in order to further increase the energy efficiency.

Keywords: price-optimal building climate control, Microgrid power flow optimisation, hierarchical model predictive control, energy efficient buildings, energy market participation

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Authors: Cherifi Mehdi, Lahdir Mourad, Ameur Soltane

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Image compression is the heart of several multimedia techniques. It is used to reduce the number of bits required to represent an image. Meteosat Second Generation (MSG) satellite allows the acquisition of 12 image files every 15 minutes and that results in a large databases sizes. In this paper, a novel image compression method based on the arithmetic coding with the sorted Run Length Coding (SRLC) for MSG images is proposed. The SRLC allows us to find the occurrence of the consecutive pixels of the original image to create a sorted run. The arithmetic coding allows the encoding of the sorted data of the previous stage to retrieve a unique code word that represents a binary code stream in the sorted order to boost the compression ratio. Through this article, we show that our method can perform the best results concerning compression ratio and bit rate unlike the method based on the Run Length Coding (RLC) and the arithmetic coding. Evaluation criteria like the compression ratio and the bit rate allow the confirmation of the efficiency of our method of image compression.

Keywords: image compression, arithmetic coding, Run Length Coding, RLC, Sorted Run Length Coding, SRLC, Meteosat Second Generation, MSG

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Authors: Daniel Y. Abebe, Jaehyouk Choi

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There are several types of metal-based devices conceived as dampers for the seismic energy absorber whereby damages to the major structural components could be minimized for both new and existing structures. This paper aimed to develop and evaluate structural performance of slit circular shear panel damper for passive seismic energy protection by inelastic deformation. Structural evaluation was done using commercially available nonlinear FE simulation program. The main parameters considered are: diameter-to-thickness (D/t) ratio and slit length-to-width ratio (l/w). Depending on these parameters three different buckling modes and hysteretic behaviors were found: yielding prior to buckling without strength degradation, yielding prior to buckling with strength degradation, and yielding with buckling and strength degradation which forms pinching at initial displacement. The susceptible location at which the possible crack is initiated is also identified for selected specimens using rupture index.

Keywords: slit circular shear panel damper, hysteresis characteristics, slip length-to-width ratio, D/t ratio, FE analysis

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Authors: Qianqian He, Naian Liu, Xiaodong Xie, Linhe Zhang, Yang Zhang, Weidong Yan

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In the wild, the vegetation layer with exceptionally complex fuel composition and heterogeneous spatial distribution strongly affects the rate of fire spread (ROS) and fire intensity. Clarifying the influence of fuel bed structure on fire spread behavior is of great significance to wildland fire management and prediction. The packing ratio is one of the key physical parameters describing the property of the fuel bed. There is a threshold value of the packing ratio for ROS, but little is known about the controlling mechanism. In this study, to address this deficiency, a series of fire spread experiments were performed across a discrete fuel bed composed of some regularly arranged laser-cut cardboards, with constant wind speed and different packing ratios (0.0125-0.0375). The experiment aims to explore the relative importance of the internal and surface heat transfer with packing ratio. The dependence of the measured ROS on the packing ratio was almost consistent with the previous researches. The data of the radiative and total heat fluxes show that the internal heat transfer and surface heat transfer are both enhanced with increasing packing ratio (referred to as ‘Stage 1’). The trend agrees well with the variation of the flame length. The results extracted from the video show that the flame length markedly increases with increasing packing ratio in Stage 1. Combustion intensity is suggested to be increased, which, in turn, enhances the heat radiation. The heat flux data shows that the surface heat transfer appears to be more important than the internal heat transfer (fuel preheating inside the fuel bed) in Stage 1. On the contrary, the internal heat transfer dominates the fuel preheating mechanism when the packing ratio further increases (referred to as ‘Stage 2’) because the surface heat flux keeps almost stable with the packing ratio in Stage 2. As for the heat convection, the flow velocity was measured using Pitot tubes both inside and on the upper surface of the fuel bed during the fire spread. Based on the gas velocity distribution ahead of the flame front, it is found that the airflow inside the fuel bed is restricted in Stage 2, which can reduce the internal heat convection in theory. However, the analysis indicates not the influence of inside flow on convection and combustion, but the decreased internal radiation of per unit fuel is responsible for the decrease of ROS.

Keywords: discrete fuel bed, fire spread, packing ratio, wildfire

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Authors: Stefanie Jeanette Huber

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This paper explores the relevance and implications of preferences for housing services on house price fluctuations through the lens of an overlapping generation’s model. The model implies that an economy whose agents have lower preferences for housing services is characterized with lower expenditure shares on housing services and will tend to experience more frequent and more volatile housing bubbles. These model predictions are tested empirically in the companion paper Housing Booms and Busts - Convergences and Divergences across OECD countries. Between 1970 - 2013, countries who spend less on housing services as a share of total income experienced significantly more housing cycles and the associated housing boom-bust cycles were more violent. Finally, the model is used to study the impact of rental subsidies and help-to-buy schemes on rational housing bubbles. Rental subsidies are found to contribute to the control of housing bubbles, whereas help-to- buy scheme makes the economy more bubble-prone.

Keywords: housing bubbles, housing booms and busts, preference for housing services, expenditure shares for housing services, rental and purchase subsidies

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Authors: Horng-Wen Wu, Yi Chao, Rong-Fang Horng

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This study is to develop a methanol steam reformer with a heat recovery zone, which recovers heat from exhaust gas of a diesel engine, and to investigate waste heat recovery ratio at the required reaction temperature. The operation conditions of the reformer are reaction temperature (200 °C, 250 °C, and 300 °C), steam to carbonate (S/C) ratio (0.9, 1.1, and 1.3), and N2 volume flow rate (40 cm3/min, 70 cm3/min, and 100 cm3/min). Finally, the hydrogen concentration, the CO, CO2, and N2 concentrations are measured and recorded to calculate methanol conversion efficiency, hydrogen flow rate, and assisting combustion gas and impeding combustion gas ratio. The heat source of this reformer comes from electric heater and waste heat of exhaust gas from diesel engines. The objective is to recover waste heat from the engine and to make more uniform temperature distribution within the reformer. It is beneficial for the reformer to enhance the methanol conversion efficiency and hydrogen-rich gas production. Experimental results show that the highest hydrogen flow rate exists at N2 of the volume rate 40 cm3/min and reforming reaction temperature of 300 °C and the value is 19.6 l/min. With the electric heater and heat recovery from exhaust gas, the maximum heat recovery ratio is 13.18 % occurring at water-methanol (S/C) ratio of 1.3 and the reforming reaction temperature of 300 °C.

Keywords: heat recovery, hydrogen-rich production, methanol steam reformer, methanol conversion efficiency

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Authors: Elitsa Kolentsova, Dimitar Dimitrov, Vasko Idakiev, Tatyana Tabakova, Krasimir Ivanov

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Formaldehyde production by selective oxidation of methanol is an important industrial process. The main by-products in the waste gas are CO and dimethyl ether (DME). The idea of this study is to combine the advantages of both Cu-Mn and Cu-Co catalytic systems by obtaining a new mixed Cu-Mn-Co catalyst with high activity and selectivity at the simultaneous oxidation of CO, methanol, and DME. Two basic Cu-Mn samples with high activity were selected for further investigation: (i) manganese-rich Cu-Mn/γ–Al2O3 catalyst with Cu/Mn molar ratio 1:5 and (ii) copper-rich Cu-Mn/γ-Al2O3 catalyst with Cu/Mn molar ratio 2:1. Manganese in these samples was replaced by cobalt in the whole concentration region, and catalytic properties were determined. The results show a general trend of decreasing the activity toward DME oxidation and increasing the activity toward CO and methanol oxidation with the increase of cobalt up to 60% for both groups of catalyst. This general trend, however, contains specific features, depending on the composition of the catalyst and the nature of the oxidized gas. The catalytic activity of the sample with Cu/(Mn+Co) molar ratio of 2:1 is gradually changed with increasing the cobalt content. The activity of the sample with Cu/(Mn+Co) molar ratio of 1: 5 passes through a maximum at 60% manganese replacement by cobalt, probably due to the formation of highly dispersed Co-based spinel structures (Co3O4 and/or MnCo2O4). In conclusion, the present study demonstrates that the Cu-Mn-Co/γ–alumina supported catalysts have enhanced activity toward CO, methanol and DME oxidation. Cu/(Mn+Co) molar ratio 1:5 and Co/Mn molar ratio 1.5 in the active component can ensure successful oxidation of CO, CH3OH and DME. The active component of the mixed Cu-Mn-Co/γ–alumina catalysts consists of at least six compounds - CuO, Co3O4, MnO2, Cu1.5Mn1.5O4, MnCo2O4 and CuCo2O4, depending on the Cu/Mn/Co molar ratio. Chemical composition strongly influences catalytic properties, this effect being quite variable with regards to the different processes.

Keywords: Cu-Mn-Co catalysts, oxidation, carbon oxide, VOCs

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Authors: Nalan Hakime Nogay

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Childhood obesity is a significant health issue that is currently on the rise all over the world. In recent years, the relationship between childhood obesity and cardiovascular disease risk has been pointed out. The purpose of this study is to evaluate the relationship between some of the anthropometric indicators and blood lipid levels in adolescents. The present study has been conducted on a total of 252 adolescents -200 girls and 52 boys- within an age group of 12 to 18 years. Blood was drawn from each participant in the morning -after having fasted for 10 hours from the day before- to analyze their total cholesterol, HDL, LDL and triglyceride levels. Their body weight, height, waist circumference, subscapular skinfold thicknesses and triceps skinfold thicknesses measurements were taken and their individual waist/height ratios, BMI and body fat ratios were calculated. The blood lipid levels of the participants were categorized as acceptable, borderline and high in accordance with the 2011 Expert Panel Integrated Guidelines. The body fat ratios, total blood cholesterol and HDL levels of the girls were significantly higher than the boys whereas their waist circumference values were lower. The triglyceride levels, total cholesterol/HDL, LDL/HDL, triglyceride/HDL ratios of the group with the BMI ≥ 95 percentile ratio (the obese group) were higher than the groups that were considered to be overweight and normal weight as per their respective BMI values, while the HDL level of the obese group was lower; a fact that was found to be statistically significant. No significant relationship could be established, however, between the total blood cholesterol and LDL levels with their anthropometric measurements. The BMI, waist circumference, waist/height ratio, body fat ratio and triglyceride level of the group with the higher triglyceride level ( ≥ 130mg/dl) were found to be significantly higher compared to borderline (90-129 mg/dl) and the normal group (< 90 mg/dl). The BMI, waist circumference, waist/height ratio values of the group with the lower HDL level ( < 40 mg/dl) were significantly higher than the normal ( > 45 mg/dl) and borderline (40-45 mg/dl) groups. All of the anthropometric measurements of the group with the higher triglyceride/HDL ratio ( ≥ 3) were found to be significantly higher than that of the group with the lower ratio (< 3). Having a high BMI, waist/height ratio and waist circumference is related to low HDL and high blood triglyceride and triglyceride/HDL ratio. A high body fat ratio, on the other hand, is associated with a low HDL and high triglyceride/HDL ratio. Tackling childhood and adolescent obesity are important in terms of preventing cardiovascular diseases.

Keywords: adolescent, body fat, body mass index, lipid profile

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Authors: Ghada Mohammed, Mohamed Abdel Salam, Passent Tantawi

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The study aimed to investigate the impact of motives and barriers for Egyptian users to use Airbnb as a platform of peer-to-peer accommodation instead of hotels on overall attitude towards Airbnb. A sequential mixed-methods approach was adopted to this study and it proposed a comprehensive research model adapted from both literature and results of qualitative phase and then tested via an online questionnaire. The findings revealed that, motives, price, home benefits, privacy, and online reviews significantly explained overall attitude towards Airbnb, while the main barriers were respectively: perceived risk and distrust in which they can predict the overall attitude. While from the subjective norms, only social influence can predict behavioral intention to use Airbnb. The study may serve as a practical reference for practitioners as well as researchers when developing programs and strategies to manage Airbnb consumers' needs and decision process. Some of the main conclusions drawn from this study are that variety was one of the major things that users like about Airbnb and the most important motives are the functional ones like price rather than the experiential ones like authenticity.

Keywords: airbnb, barriers, disruptive innovation, motives, sharing economy

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Authors: Jaypalsinh Parmar, Pintu Nakrani, Bhaumik Shah

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Digital Elevation Model (DEM) is elevation data of the virtual grid on the ground. DEM can be used in application in GIS such as hydrological modelling, flood forecasting, morphometrical analysis and surveying etc.. For morphometrical analysis the stream flow network plays a very important role. DEM lacks accuracy and cannot match field data as it should for accurate results of morphometrical analysis. The present study focuses on comparing the Agree method and the conventional Shortest path method for finding out morphometric parameters in the flat region of the Lower Tapi Basin which is located in the western India. For the present study, open source SRTM (Shuttle Radar Topography Mission with 1 arc resolution) and toposheets issued by Survey of India (SOI) were used to determine the morphometric linear aspect such as stream order, number of stream, stream length, bifurcation ratio, mean stream length, mean bifurcation ratio, stream length ratio, length of overland flow, constant of channel maintenance and aerial aspect such as drainage density, stream frequency, drainage texture, form factor, circularity ratio, elongation ratio, shape factor and relief aspect such as relief ratio, gradient ratio and basin relief for 53 catchments of Lower Tapi Basin. Stream network was digitized from the available toposheets. Agree DEM was created by using the SRTM and stream network from the toposheets. The results obtained were used to demonstrate a comparison between the two methods in the flat areas.

Keywords: agree method, morphometric analysis, lower Tapi basin, shortest path method

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Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak

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The global financial crisis that erupted in 2008 is associated mainly with the debt crisis. It quickly spread globally through financial markets, international banks and trade links, and affected many economic sectors. Measured by the index of the year-on-year change in GDP and industrial production, the consequences of the global financial crisis manifested themselves with some delay also in the Czech economy. This can be considered a result of the overwhelming export orientation of Czech industrial enterprises. These events offer an important opportunity to study how financial and macroeconomic instability affects corporate performance. Corporate performance factors have long been given considerable attention. It is therefore reasonable to ask whether the findings published in the past are also valid in the times of economic instability and subsequent recession. The decisive factor in effective corporate performance measurement is the existence of an appropriate system of indicators that are able to assess progress in achieving corporate goals. Performance measures may be based on non-financial as well as on financial information. In this paper, financial indicators are used in combination with other characteristics, such as the firm size and ownership structure. Financial performance is evaluated based on traditional performance indicators, namely, return on equity and return on assets, supplemented with indebtedness and current liquidity indices. As investments are a very important factor in corporate performance, their trends and importance were also investigated by looking at the ratio of investments to previous year’s sales and the rate of reinvested earnings. In addition to traditional financial performance indicators, the Economic Value Added was also used. Data used in the research were obtained from a questionnaire survey administered in industrial enterprises in the Czech Republic and from AMADEUS (Analyse Major Database from European Sources), from which accounting data of companies were obtained. Respondents were members of the companies’ senior management. Research results unequivocally confirmed that corporate performance dropped significantly in the 2010-2012 period, which can be considered a result of the global financial crisis and a subsequent economic recession. It was reflected mainly in the decreasing values of profitability indicators and the Economic Value Added. Although the total year-on-year indebtedness declined, intercompany indebtedness increased. This can be considered a result of impeded access of companies to bank loans due to the credit crunch. Comparison of the results obtained with the conclusions of previous research on a similar topic showed that the assumption that firms under foreign control achieved higher performance during the period investigated was not confirmed.

Keywords: corporate performance, foreign control, intercompany indebtedness, ratio of investment

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Authors: Marija Knez, James C.R. Stangoulis, Manja Zec, Zoran Pavlovic, Jasmina D. Martacic, Mirjana Gurinovic, Maria Glibetic

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Background: Zinc is an essential micronutrient for humans with important physiological functions. A sensitive and specific biomarker for assessing Zn status is still needed. Objective: The major aim of this study was to examine if the changes in the content of plasma phospholipid LA, DGLA and LA: DGLA ratio can be used to efficiently predict the dietary Zn intake and plasma Zn status of humans. Methods: The study was performed on apparently healthy human volunteers. The dietary Zn intake was assessed using 24h recall questionnaires. Plasma phospholipid fatty acid analysis was done by gas chromatography and plasma analysis of minerals by atomic absorption spectrometry. Biochemical, anthropometrical and hematological parameters were assessed. Results: No significant relationship was found between the dietary and plasma zinc status (r=0.07; p=0.6). There is a statistically significant correlation between DGLA and plasma Zn (r=0.39, p=0.00). No relationship was observed between the linoleic acid and plasma Zn, while there was a significant negative correlation between LA: DGLA ratio and plasma Zn status (r=-0.35, p=0.01). Similarly, there were statistically significant difference in DGLA status (p=0.004) and LA: DGLA ratio (p=0.042) between the Zn formed groups. Conclusions: This study is an initial step in evaluating LA: DGLA ratio as a biomarker of Zn status in humans. The results are encouraging as they show that concentration of DGLA is decreased and LA: DGLA ratio increased in people with lower dietary Zn intake. However, additional studies are needed to fully examine the sensitivity of this biomarker.

Keywords: dietary Zn intake Zinc, fatty acid composition, LA: DGLA, healthy population, plasma Zn status, Zn biomarker

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Authors: Souhir Ben Amor, Heni Boubaker, Lotfi Belkacem

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This aims of this paper is to forecast the electricity spot prices. First, we focus on modeling the conditional mean of the series so we adopt a generalized fractional -factor Gegenbauer process (k-factor GARMA). Secondly, the residual from the -factor GARMA model has used as a proxy for the conditional variance; these residuals were predicted using two different approaches. In the first approach, a local linear wavelet neural network model (LLWNN) has developed to predict the conditional variance using the Back Propagation learning algorithms. In the second approach, the Gegenbauer generalized autoregressive conditional heteroscedasticity process (G-GARCH) has adopted, and the parameters of the k-factor GARMA-G-GARCH model has estimated using the wavelet methodology based on the discrete wavelet packet transform (DWPT) approach. The empirical results have shown that the k-factor GARMA-G-GARCH model outperform the hybrid k-factor GARMA-LLWNN model, and find it is more appropriate for forecasts.

Keywords: electricity price, k-factor GARMA, LLWNN, G-GARCH, forecasting

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Authors: Thochi Seb Rengma, Mahendra Kumar Gupta, P. M. V. Subbarao

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Hydrokinetic turbines can be used to produce power in inaccessible villages located near rivers. The hydrokinetic turbine uses the kinetic energy of the water and maybe put it directly into the natural flow of water without dams. For off-grid power production, the Savonius-type vertical axis turbine is the easiest to design and manufacture. This proposal uses three-dimensional computational fluid dynamics (CFD) simulations to measure the considerable interaction and complexity of turbine blades. Savonius hydrokinetic turbine (SHKT) performance is affected by a blockage in the river, canals, and waterways. Putting a large object in a water channel causes water obstruction and raises local free stream velocity. The blockage correction factor or velocity increment measures the impact of velocity on the performance. SHKT performance is evaluated by comparing power coefficient (Cp) with tip-speed ratio (TSR) at various blockage ratios. The maximum Cp was obtained at a TSR of 1.1 with a blockage ratio of 45%, whereas TSR of 0.8 yielded the highest Cp without blockage. The greatest Cp of 0.29 was obtained with a 45% blockage ratio compared to a Cp max of 0.18 without a blockage.

Keywords: savonius hydrokinetic turbine, blockage ratio, vertical axis turbine, power coefficient

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Authors: Navid Mohammadzadeh, Huy Truong-Ba, Michael Cholette

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The solar tower (ST) plant is a promising technology to exploit large-scale solar irradiation. With thermal energy storage, ST plant has the potential to shift generation to high electricity price periods. However, the size of storage limits the dispatchability of the plant, particularly when it should compete with uncertainty in forecasts of solar irradiation and electricity prices. The purpose of this study is to explore the size of storage when Rolling Horizon Control (RHC) is employed for dispatch scheduling. To this end, RHC is benchmarked against perfect knowledge (PK) forecast and two day-ahead dispatching policies. With optimisation of dispatch planning using PK policy, the optimal achievable profit for a specific size of the storage is determined. A sensitivity analysis using Monte-Carlo simulation is conducted, and the size of storage for RHC and day-ahead policies is determined with the objective of reaching the profit obtained from the PK policy. A case study is conducted for a hypothetical ST plant with thermal storage located in South Australia and intends to dispatch under two market scenarios: 1) fixed price and 2) wholesale spot price. The impact of each individual source of uncertainty on storage size is examined for January and August. The exploration of results shows that dispatching with RH controller reaches optimal achievable profit with ~15% smaller storage compared to that in day-ahead policies. The results of this study may be applied to the CSP plant design procedure.

Keywords: solar tower plant, spot market, thermal storage system, optimized dispatch planning, sensitivity analysis, Monte Carlo simulation

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Authors: Kimia Kiaei, Mohammad Hasan Golpayegani

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The extraction of copper from a pregnant leach solution obtained through leaching was investigated in this study. Chemorex CP-150 was utilized as an organic extractant, while kerosene served as a diluent. The study focused on determining the optimal ratios of extractant to diluent, as well as the pH of the aqueous phase. Isotherm curves of extraction were generated, and Mc. Cabe-Thiele diagrams were constructed separately for an optimized experimental pH of 3.17 and a typical industrial pH of 2. Additionally, the sulfuric acid-to-PLS ratio and concentrations of interfering ions comprising Mn²⁺ and Fe³⁺ in the strip solution were evaluated during the stripping stage. The results indicated that the optimized values for the extractant-to-diluent ratio and pH were 5% and 3.17, respectively. The Mc. Cabe-Thiele diagrams revealed that at an aqueous-to-organic ratio of 1, the theoretical stages of solvent extraction at pH levels of 3.17 and 2 were one and two, respectively. Moreover, a sulfuric acid-to-PLS ratio of 20% was employed in the stripping stage, and it was observed that the concentrations of interfering ions fell within the acceptable range.

Keywords: copper, solvent extraction, heap leaching, Chemorex CP-150, pregnant leach solution

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Authors: Alvaro Callejas-Ramos, Lorena Alvarez-Perez, Alexander Benitez-Buenache, Anibal R. Figueiras-Vidal

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This contribution presents a promising formulation which allows to extend the principled binary rebalancing procedures, also known as neutral re-balancing mechanisms in the sense that they do not alter the likelihood ratio

Keywords: Bregman divergences, imbalanced multiclass classifi-cation, informed re-balancing, invariant likelihood ratio

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Authors: Eunsup Daniel Shim, Jooh Lee

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The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

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Authors: Pouya Molana, Zeinab Alimohammadi

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Determining wind wave characteristics is essential for implementing projects related to Coastal and Marine engineering such as designing coastal and marine structures, estimating sediment transport rates and coastal erosion rates in order to predict significant wave height (H_s), this study applies the third generation spectral wave model, Mike 21 SW, along with CEM model. For SW model calibration and verification, two data sets of meteorology and wave spectroscopy are used. The model was exposed to time-varying wind power and the results showed that difference ratio mean, standard deviation of difference ratio and correlation coefficient in SW model for H_s parameter are 1.102, 0.279 and 0.983, respectively. Whereas, the difference ratio mean, standard deviation and correlation coefficient in The Choice Experiment Method (CEM) for the same parameter are 0.869, 1.317 and 0.8359, respectively. Comparing these expected results it is revealed that the Choice Experiment Method CEM has more errors in comparison to MIKE 21 SW third generation spectral wave model and higher correlation coefficient does not necessarily mean higher accuracy.

Keywords: MIKE 21 SW, CEM method, significant wave height, difference ratio

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Authors: Rudi Kurniawan Arief

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Manufacturing cost and setup time are the hot topics to improve in Metal Stamping industry because material and components price are always rising up while costumer requires to cut down the component price year by year. The Single Minute Exchange of Die (SMED) is one of many methods to reduce waste in stamping industry. The Japanese Quick Die Change (QDC) dies system is one of SMED systems that could reduce both of setup time and manufacturing cost. However, this system is rarely used in stamping industries. This paper will analyze how deep the QDC dies system could reduce setup time and the manufacturing cost. The research is conducted by direct observation, simulating and comparing of QDC dies system with conventional dies system. In this research, we found that the QDC dies system could save up to 35% of manufacturing cost and reduce 70% of setup times. This simulation proved that the QDC die system is effective for cost reduction but must be applied in several parallel production processes.

Keywords: press die, metal stamping, QDC system, single minute exchange die, manufacturing cost saving, SMED

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Authors: Fuyang Peng, Donghong Li

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The aim of information systems integration is to make all the data sources, applications and business flows integrated into the new environment so that unwanted redundancies are reduced and bottlenecks and mismatches are eliminated. Two issues have to be dealt with to meet such requirements: the software architecture that supports resource integration, and the adaptor development tool that help integration and migration of legacy applications. In this paper, a service-enabled dependable integration environment (SDIE), is presented, which has two key components, i.e., a dependable service integration platform and a legacy application integration tool. For the dependable platform for service integration, the service integration bus, the service management framework, the dependable engine for service composition, and the service registry and discovery components are described. For the legacy application integration tool, its basic organization, functionalities and dependable measures taken are presented. Due to its service-oriented integration model, the light-weight extensible container, the service component combination-oriented p-lattice structure, and other features, SDIE has advantages in openness, flexibility, performance-price ratio and feature support over commercial products, is better than most of the open source integration software in functionality, performance and dependability support.

Keywords: application integration, dependability, legacy, SOA

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Authors: Avinash Kishore, Suman Chakrabarti

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In September 2013, the parliament of India enacted the National Food Security Act (NFSA) which entitles two-thirds of India’s population to five kilograms of rice, wheat or coarse cereals per person per month at one to three rupees per kilogram. Five states in India—Andhra Pradesh, Chhattisgarh, Tamil Nadu, Odisha and West Bengal—had already implemented somewhat similar changes in the TPDS a few years earlier using their own budgetary resources. They made rice—coincidentally, all five states are predominantly rice-eating—available in fair price shops to a majority of their population at very low prices (less than Rs.3/kg). This paper tries to account for the changes in household consumption patterns associated with the change in TPDS policy in these states using data from household consumption surveys by the National Sample Survey Organization (NSSO). NSS data show improvement in the coverage of TPDS and average off-take of grains from fair price shops between 2004-05 and 2009-10 across all states of India. However, the increase in coverage and off-take was significantly higher in four out of these five states than in the rest of India. An average household in these states purchased three kilos more rice per month from fair price shops than its counterpart in non-treated states as a result of more generous TPDS policies backed by administrative reforms. The increase in consumption of PDS rice was the highest in Chhattisgarh, the poster state of PDS reforms. Households in Chhattisgarh used money saved on rice to spend more on pulses, edible oil, vegetables and sugar and other non-food items. We also find evidence that making TPDS more inclusive and more generous is not enough unless it is supported by administrative reforms to improve grain delivery and control diversion to open markets.

Keywords: public distribution system, social safety-net, national food security act, diet quality, Chhattisgarh

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Authors: Khaled Hesham Hyari, Amjad Almani

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Construction projects in the public sector are commonly awarded through competitive bidding. In the last decade, the Construction projects environment in the Middle East went through many changes. These changes have been caused by different factors including the economic crisis, delays in monthly payments, international competition and reduced number of projects. These factors had a great impact on the bidding behaviors of contractors and their pricing strategies. This paper examines the competition characteristics in public construction projects through an analysis of bidding results of contractors in public construction projects over a period of 6 years (2006-2011) in Jordan. The analyzed projects include all categories of projects such as infrastructure, buildings, transportation and engineering services (design and supervision contracts). Data for the projects were obtained from the General Tender’s Directorate in Jordan and includes 462 projects. The analysis performed in this projects includes, studying the bid spread in all projects as it is an indication of the level of competition in the analyzed bids. The analysis studied the factors that affect bid spread such as number of bidders, Value of the project, Project category and years. It also studying the “Signal to Noise Ratio” in all projects as it is an indication of the accuracy of cost estimating performed by competing bidders and bidder´s evaluation of project risks. The analysis performed includes the relationship between signal to noise ratio and different parameters such as project category, number of bidders and changes over years. Moreover, the analysis includes determining the bidder´s aggressiveness in bidding as it is an indication of competition level in such projects. This was performed by determining the pack price which can be considered as the true value of the project and comparing it with the lowest bid submitted for each project to determine the level of aggressiveness in submitted bids. The analysis performed in this project should prove to be useful to owners in understanding bidding behaviors of contractors and pointing out areas that needs improvement in preparing bidding documents. Also the project should be useful to contractors in understanding the competitive bidding environment and should help them to improve their bidding strategies to maximize the success rate in obtaining contracts.

Keywords: construction projects, competitive bidding, public construction, competition

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Authors: Sunil Verma

Abstract:

In today’s world non-renewable sources are depleting quickly, so there is a need to produce efficient and unconventional engines to minimize the use of fuel. Also, there are many fatal accidents happening every year during extraction, distillation, transportation and storage of fuel. Reason for explosions of gaseous fuel is unwanted autoignition. Autoignition characterstics of fuel are mandatory to study to build efficient engines and to avoid accidents. This report is concerned with study of autoignition delay characteristics of iso-octane by using rapid compression machine. The paper clearly explains the dependence of ignition delay characteristics on variation of equivalence ratios from lean to rich mixtures. The equivalence ratio is varied from 0.3 to 1.2.

Keywords: autoignition, iso-octane, combustion, rapid compression machine, equivalence ratio, ignition delay

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Authors: Muna Jalal Ali, Essam A. Makky, Mashitah M. Yusoff

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Objectives: The aim of this study to evaluate the antimicrobial susceptibility of combined toothpaste with medicinal plants and the relations between the commercial toothpaste to its price and the patient age as well. Materials and Methods: Oral isolates of different patients aged 3 to 60 years were obtained, purified, and tested against four different ethnomedicinal plant extracts for antimicrobial activity. A total of 10 different commercial toothpastes (different brands and prices) were collected from the market, and the combined action of the medicinal plants and toothpaste was studied. Results: We found a higher bacterial population in the age group of 3–40 years than the group of 40–60 years, with approximately 44% and 32%, respectively. The combined action of ethanolic extract (alone) against oral isolates showed a synergistic effect, with 32.20, 30.50, and 25.42% for combinations A (Ci/Ca), B (Ci/Ca/P), and C (Ci/Ca/P/N), respectively. By contrast, the combined action of ethnomedicinal plants with 10 different toothpastes improved the antimicrobial sensitivity by 60, 100, and 0% for combinations A, B, and C respectively. Clinical relevance: The ethanolic extract of only combinations A and B with commercial toothpaste showed high antibacterial activity against oral isolates and the effectiveness of toothpaste is not related to the price.

Keywords: microbial evolution, oral isolates, ethnomedicinal plants, antimicrobial activity, toothpaste

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Authors: Meesun Sun, Yongmin Kim

Abstract:

Estimating maintenance cost is crucial in defense management because it affects military budgets and availability of equipment. When it comes to estimating maintenance cost of the deployed equipment, time series forecasting can be applied with the actual historical cost data. It is more difficult issue to estimate maintenance cost of new equipment for which the actual costs are not provided. In this underlying context, this study proposes an analytical method for maintenance cost estimating relationships (CERs) development of helicopters using linear programming. The CERs can be applied to a new helicopter because they use non-cost independent variables such as the number of engines, the empty weight and so on. In the Republic of Korea, the maintenance cost of new equipment has been usually estimated by reflecting maintenance cost to unit price ratio of the legacy equipment. This study confirms that the CERs perform well for the 10 types of airmobile helicopters in terms of mean absolute percentage error by applying leave-one-out cross-validation. The suggested method is very useful to estimate the maintenance cost of new equipment and can help in the affordability assessment of acquisition program portfolios for total life cycle systems management.

Keywords: affordability analysis, cost estimating relationship, helicopter, linear programming, maintenance cost

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Authors: Mengna Hu

Abstract:

This paper examines the impact of an anti-speculation tax policy on the trading activities and home price movements in the housing market in Hong Kong. The study focuses on the secondary residential property market where transactions dominate. The policy intervention substantially raised the transaction cost to speculators as well as genuine homeowners who dispose their homes within a certain period. Through the demonstration of structural breaks, our empirical results show that the rise in transaction cost effectively reduced speculative trading activities. However, it accelerated price increase in the small-sized segment by vastly demotivating existing homeowners from trading up to better homes, causing congestion in the lower-end market where the demand from first-time buyers is still strong. Apart from that, by employing regime switching approach, we further show that the unintended consequences are likely to be persistent due to this policy together with other strengthened cooling measures.

Keywords: transaction costs, housing market, structural breaks, regime switching

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Authors: Zeynep Yilmazer Hitit, Patrick C. Hallenbeck

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Fuel reserve requirements due to depletion of fossil fuels have increased interest in biohydrogen since the 1990’s. In fermentative hydrogen production, pure, mixed, and co-cultures can be used to produce hydrogen. Several previous studies have evaluated hydrogen production by pure cultures of Clostridium butyricum or Enterobacter aerogenes. Evaluating hydrogen production by co-culture of these microorganisms is an interestıng approach since E. aerogenes is a facultative microorganism with resistance to oxygen in contrast to the strict anaerobe C. butyricum, and therefore has the ability to maintain anaerobic conditions. It was found that using co-cultures of facultative E. aerogenes (as a reducing agent and H2 producer) and the obligate anaerobe C. butyricum for producing hydrogen increases the yield of hydrogen by about 50% compared to C. butyricum by itself. Also, using different types of microorganisms for hydrogen production eliminates the need to use expensive reducing agents. C. butyricum strain pre-cultured anaerobically at 37 0C for 15h by inoculating 100 mL of GP medium (pH 6.8) consisting of 1% glucose, 2% polypeptone, 0.2% KH2PO4, 0.05% yeast extract, 0.05% MgSO4. 7H2O and E. aerogenes strain was pre-cultured aerobically at 30 0C, 150 rpm for 9 h by inoculating 100 mL of TGY medium (pH 6.8), consisting of 0.1% glucose, 0.5% tryptone, 0.1% K2HPO4, 0.5% yeast extract. All duplicate batch experiments were conducted in 100 mL bottles with different inoculum ratios of Clostridium butyricum and Enterobater aerogenes (C:E) using 5x diluted rich media (GP) consisting of 2 g/L glucose, 4g/L polypeptone, 0.4 g/L KH2PO4, 0.1 g/L yeast extract, 0.1 MgSO4.7H2O. The range of inoculum ratio of C. butyricum to E. aerogenes were 2:1,4:1,8:1, 1:2,1:4, 1:8, 1:0, 0:1. Using glucose as a carbon source aided in the observation of microbial behavior as well as making the effect of inoculum ratio more evident. Nearly all the glucose in the medium was used to produce hydrogen, except at a 1:0 ratio of inoculum (i.e. containing only C. butyricum). Low glucose consumption leads to a higher hydrogen yield due to cumulative hydrogen production and consumption of glucose, but not as much as C:E, 8:1. The lowest hydrogen yield was achieved in 1:8 inoculum ratio of C:E, 71.9 mL, 1.007±0.01 mol H2/mol glucose and the highest cumulative hydrogen, hydrogen yield and dry cell weight were achieved in 8:1 inoculum ratio of C:E, 117.4 mL, 2.035±0.082 mol H2/mol glucose, 0.4 g/L respectively. In this study effect of inoculum ratio on dark fermentative biohydrogen production using C. butyricum and E. aerogenes was investigated. The maximum hydrogen yield of 2.035mol H2/mol glucose was obtained using 2g/L glucose, an initial pH of 6 and an inoculum ratio of C. butyricum to E. aerogenes of 8:1. Results showed that inoculum ratio is an important parameter on hydrogen production due to competition between the two microorganisms in using substrate for growth and production of by-products. The results presented here could be of great significance for further waste management studies using co-culture hydrogen production.

Keywords: biohydrogen, Clostridium butyricum, dark fermentation, Enterobacter aerogenes, inoculum ratio in biohydrogen production

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Authors: Aliakbar Sayadi, Thomas R. Neitzert, G. Charles Clifton, Min Cheol Han

Abstract:

The present study aims to assess the performance of vermiculite concrete containing poly-lactic acid beads as an eco-friendly aggregate. Vermiculite aggregate was replaced by poly-lactic acid in percentages of 0%, 20%, 40%, 60% and 80%. Mechanical and thermal properties of concrete were investigated. Test results indicated that the inclusion of poly-lactic acid decreased the PH value of concrete and all the poly-lactic acid particles were dissolved due to the formation of sodium lactide and lactide oligomers when subjected to the high alkaline environment of concrete. In addition, an increase in thermal conductivity value of concrete was observed as the ratio of poly-lactic acid increased. Moreover, a set of equations was proposed to estimate the water-cement ratio, cement content and water absorption ratio of concrete.

Keywords: poly-lactic acid (PLA), vermiculite concrete, eco-friendly, mechanical properties

Procedia PDF Downloads 384