Search results for: short implant
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3078

Search results for: short implant

2628 Cytotoxicity of Nano β–Tricalcium Phosphate (β-TCP) on Human Osteoblast (hFOB1.19)

Authors: Jer Ping Ooi, Shah Rizal Bin Kasim, Nor Aini Saidin

Abstract:

The objective of this study was to synthesize nano-sized β-tricalcium phosphate (β-TCP) powder and assess its cytotoxic effects on human osteoblast (hFOB1.19) by using four cytotoxicity assays, namely, lactose dehydrogenase (LDHe), tetrazolium hydroxide (XTT), neutral red (NR), and sulforhodamine B (SRB) assays. β-tricalcium phosphate (β-TCP) is a calcium phosphate compound commonly used as an implant material. To date, bulk-sized β-TCP is reported to be readily tolerated by the osteogenic cells and body based on in vitro, in vivo experiments and clinical studies. However, to what extent of nano-sized β-TCP will react in models as compared to bulk β-TCP is yet to be investigated. Thus, in this project, the cells were treated with nano β-TCP powder within a range of concentrations from 0 to 1000 μg/mL for 24, 48, and 72 h. The cytotoxicity tests showed that loss of cell viability ( > 50%) was high for hFOB1.19 cells in all assays. Cell cycle and apoptosis analysis of hFOB1.19 cells revealed that 50 μg/mL of the compound led to 30.5% of cells being apoptotic after 72 h of incubation, and the percentage was increased to 58.6% when the concentration was increased to 200 μg/mL. When the incubation time was increased from 24 to 72 h, the percentage of apoptotic cells increased from 17.3% to 58.6% when the hFOB1.19 were exposed with 200 μg/mL of nano β-TCP powder. Thus, both concentration and exposure duration affected the cytotoxicity effects of the nano β-TCP powder on hFOB1.19. We hypothesize that these cytotoxic effects on hFOB1.19 are related to the nano-scale size of the β-TCP.

Keywords: β-tricalcium phosphate, hFOB1.19, adipose-derived mesenchymal stem cells, cytotoxicity

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2627 Analysis of Short Counter-Flow Heat Exchanger (SCFHE) Using Non-Circular Micro-Tubes Operated on Water-CuO Nanofluid

Authors: Avdhesh K. Sharma

Abstract:

Key, in the development of energy-efficient micro-scale heat exchanger devices, is to select large heat transfer surface to volume ratio without much expanse on re-circulated pumps. The increased interest in short heat exchanger (SHE) is due to accessibility of advanced technologies for manufacturing of micro-tubes in range of 1 micron m - 1 mm. Such SHE using micro-tubes are highly effective for high flux heat transfer technologies. Nanofluids, are used to enhance the thermal conductivity of re-circulated coolant and thus enhances heat transfer rate further. Higher viscosity associated with nanofluid expands more pumping power. Thus, there is a trade-off between heat transfer rate and pressure drop with geometry of micro-tubes. Herein, a novel design of short counter flow heat exchanger (SCFHE) using non-circular micro-tubes flooded with CuO-water nanofluid is conceptualized by varying the ratio of surface area to cross-sectional area of micro-tubes. A framework for comparative analysis of SCFHE using micro-tubes non-circular shape flooded by CuO-water nanofluid is presented. In SCFHE concept, micro-tubes having various geometrical shapes (viz., triangular, rectangular and trapezoidal) has been arranged row-wise to facilitate two aspects: (1) allowing easy flow distribution for cold and hot stream, and (2) maximizing the thermal interactions with neighboring channels. Adequate distribution of rows for cold and hot flow streams enables above two aspects. For comparative analysis, a specific volume or cross-section area is assigned to each elemental cell (which includes flow area and area corresponds to half wall thickness). A specific volume or cross-section area is assumed to be constant for each elemental cell (which includes flow area and half wall thickness area) and variation in surface area is allowed by selecting different geometry of micro-tubes in SCFHE. Effective thermal conductivity model for CuO-water nanofluid has been adopted, while the viscosity values for water based nanofluids are obtained empirically. Correlations for Nusselt number (Nu) and Poiseuille number (Po) for micro-tubes have been derived or adopted. Entrance effect is accounted for. Thermal and hydrodynamic performances of SCFHE are defined in terms of effectiveness and pressure drop or pumping power, respectively. For defining the overall performance index of SCFHE, two links are employed. First one relates heat transfer between the fluid streams q and pumping power PP as (=qj/PPj); while another link relates effectiveness eff and pressure drop dP as (=effj/dPj). For analysis, the inlet temperatures of hot and cold streams are varied in usual range of 20dC-65dC. Fully turbulent regime is seldom encountered in micro-tubes and transition of flow regime occurs much early (i.e., ~Re=1000). Thus, Re is fixed at 900, however, the uncertainty in Re due to addition of nanoparticles in base fluid is quantified by averaging of Re. Moreover, for minimizing error, volumetric concentration is limited to range 0% to ≤4% only. Such framework may be helpful in utilizing maximum peripheral surface area of SCFHE without any serious severity on pumping power and towards developing advanced short heat exchangers.

Keywords: CuO-water nanofluid, non-circular micro-tubes, performance index, short counter flow heat exchanger

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2626 Blended Intensive Programmes: A Way Forward to Promote Internationalization in Higher Education

Authors: Sonja Gögele, Petra Kletzenbauer

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International strategies are ranked as one of the core activities in the development plans of Austrian universities. This has led to numerous promising activities in terms of internationalization (i.e. development of international degree programmes, increased staff and student mobility, and blended international projects). The latest innovative approach in terms of Erasmus+ are so called Blended Intensive Programmes (BIP) which combine jointly delivered teaching and learning elements of at least three participating ERASMUS universities in a virtual and short-term mobility setup. Students who participate in BIP can maintain their study plans at their home institution and include BIP as a parallel activity. This paper presents the experiences of this programme on the topic of sustainable computing hosted by the University of Applied Sciences FH JOANNEUM. By means of an online survey and face-to-face interviews with all stakeholders (20 students, 8 professors), the empirical study addresses the challenges of hosting an international blended learning programme (i.e. virtual phase and on-site intensive phase) and discusses the impact of such activities in terms of internationalization and Englishization. In this context, key roles are assigned to the development of future transnational and transdisciplinary curricula by considering innovative aspects for learning and teaching (i.e. virtual collaboration, research-based learning).

Keywords: internationalization, englishization, short-term mobility, international teaching and learning

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2625 Effect of the pH on the Degradation Kinetics of Biodegradable Mg-0.8Ca Orthopedic Implants

Authors: A. Mohamed, A. El-Aziz

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The pH of the body plays a great role in the degradation kinetics of biodegradable Mg-Ca orthopedic implants. At the location of fracture, the pH of the body becomes no longer neutral which draws the attention towards studying a range of different pH values of the body fluid. In this study, the pH of Hank’s balanced salt solution (HBSS) was modified by phosphate buffers into an aggressive acidic pH 1.8, a slightly acidic pH 5.3 and an alkaline pH 8.1. The biodegradation of Mg-0.8Ca implant was tested in those three different media using immersion test and electrochemical polarization means. It was proposed that the degradation rate has increased with decreasing the pH of HBSS. The immersion test revealed weight gain for all the samples followed by weight loss as the immersion time increased. The highest weight gain was pronounced for the acidic pH 1.8 and the least weight gain was observed for the alkaline pH 8.1. This was in agreement with the electrochemical polarization test results where the degradation rate was found to be high (7.29 ± 2.2 mm/year) in the aggressive acidic solution of pH 1.8 and relatively minimum (0.31 ± 0.06 mm/year) in the alkaline medium of pH 8.1. Furthermore, it was confirmed that the pH of HBSS has reached a steady state of an alkaline pH (~pH 11) at the end of the two-month immersion period regardless of the initial pH of the solution. Finally, the corrosion products formed on the samples’ surface were investigated by SEM, EDX and XRD analyses that revealed the formation of magnesium and calcium phosphates with different morphologies according to the pH.

Keywords: biodegradable, electrochemical polarization means, orthopedics, immersion test, simulated body fluid

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2624 The Effect of Macroeconomic Policies on Cambodia's Economy: ARDL and VECM Model

Authors: Siphat Lim

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This study used Autoregressive Distributed Lag (ARDL) approach to cointegration. In the long-run the general price level and exchange rate have a positively significant effect on domestic output. The estimated result further revealed that fiscal stimulus help stimulate domestic output in the long-run, but not in the short-run, while monetary expansion help to stimulate output in both short-run and long-run. The result is complied with the theory which is the macroeconomic policies, fiscal and monetary policy; help to stimulate domestic output in the long-run. The estimated result of the Vector Error Correction Model (VECM) has indicated more clearly that the consumer price index has a positive effect on output with highly statistically significant. Increasing in the general price level would increase the competitiveness among producers than increase in the output. However, the exchange rate also has a positive effect and highly significant on the gross domestic product. The exchange rate depreciation might increase export since the purchasing power of foreigners has increased. More importantly, fiscal stimulus would help stimulate the domestic output in the long-run since the coefficient of government expenditure is positive. In addition, monetary expansion would also help stimulate the output and the result is highly significant. Thus, fiscal stimulus and monetary expansionary would help stimulate the domestic output in the long-run in Cambodia.

Keywords: fiscal policy, monetary policy, ARDL, VECM

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2623 African Traders Beyond China: Delving Into Their Entrepreneurial Activities Following COVID-19

Authors: Phillip Thebe

Abstract:

African traders in China have generated magnanimous attention from scholars because of their choices to take short-term trips to Guangzhou and other places in search of cheaper products taking advantage of the status of China as a "global manufacturing hub". Nevertheless, their activities only gained traction at the turn of the millennium, with their presence in China incrementally dwindling over the next two decades. Now, with the devastating effects of COVID-19, their journeys have had to be totally cut short by unending lockdowns and stiff migration rules due to China's zero-tolerance of COVID-19 policy. This unfortunate yet untimely occurrence has left many scholars wondering if this marks the end of African traders in China and, indeed, the end of their business careers. Between March and September 2022, 20 traders were followed back to Africa, Zimbabwe, to find out what they are doing after having been shut out of China. Data was collected through ethnographic immersion and purposive in-depth interviewing in and around the city of Bulawayo. Snowballing was employed to reach out to the traders until a saturation point was reached and interview transcripts were filed for analysis. The findings revealed that some still trading online in China, report different opinions and feelings about doing business during COVID-19. Others have left the Chinese marketplace, now pursuing European industries in Turkey and other places. Others are still getting Chinese goods but in African countries such as Tanzania, Mozambique, South Africa, and Botswana. Some are now into the second-hand clothing trade, whereas others have stopped doing business to pursue other life-course interests. These and other issues are addressed in this paper from the anthropology of migration and globalization perspectives.

Keywords: entrepreneurship, African traders, China, COVID-19, Africans in China

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2622 Place, Female and Latino Identities in Kali Fajardo-Anstine’s Short Story Collection Sabrina and Corina

Authors: Jaroslav Kusnir

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In her short story collection, Sabrina & Corina, Kali Fajardo-Anstine depicts mostly Latina characters of indigenous background living and travelling in the American West and the Southwest. In all the stories, place and the environment plays an important role in the construction of cultural identity of these characters that is influenced by their indigenous background, a specificity of the American West, its culture and environment, as well as a contemporary (modern) American culture, position of women and gender roles in a Latino community in the USA. This paper will analyze Fajardo-Anstine´s depiction of a specificity of place, especially of the American West and its role in a construction of Latino/a cultural identity in a modern American society as manifested especially in Fajardo-Anstine´s stories Any Further West and Sabrina & Corina. At the same time, the paper will point out Fajardo-Anstine´s construction of cultural identity of female characters and their gender roles in both Latino and a contemporary American societies. The research results show that the formation of Latina cultural identity is closely connected with both place, that is the American West and the Soutwest as well as with Latina and contemporary American cultures.

Keywords: American culture, american west, cultural identity, female identity, latina identity, place

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2621 The Impact of Macroeconomic Factors on Tehran Stock Exchange Index during Economic and Oil Sanctions between January 2006 and December 2012

Authors: Hamed Movahedizadeh, Annuar Md Nassir, Mehdi Karimimalayer, Navid Samimi Sedeh, Ehsan Bagherpour

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The aim of this paper is to evaluate Tehran’s Stock Exchange (TSE) performance regarding with impact of four macroeconomic factors including world crude Oil Price (OP), World Gold Price (GP), Consumer Price Index (CPI) and total Supplied Oil by Iran (SO) from January 2006 to December 2012 that Iran faced with economic and oil sanctions. Iran's exports of crude oil and lease condensate reduced to roughly 1.5 million barrels per day (bbl/d) in 2012, compared to 2.5 million bbl/d in 2011 due to hard sanctions. Monthly data are collected and subjected to a battery of tests through ordinary least square by EViews7. This study found that gold price and oil price are positively correlated with stock returns while total oil supplied and consumer price index have negative relationship with stock index, however, consumer price index tends to become insignificant in stock index. While gold price and consumer price index have short run relationship with TSE index at 10% of significance level this amount for oil price is significant at 5% and there is no significant short run relationship between supplied oil and Tehran stock returns. Moreover, this study found that all macroeconomic factors have long-run relationship with Tehran Stock Exchange Index.

Keywords: consumer price index, gold price, macroeconomic, oil price, sanction, stock market, supplied oil

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2620 Multi-Scale Damage Modelling for Microstructure Dependent Short Fiber Reinforced Composite Structure Design

Authors: Joseph Fitoussi, Mohammadali Shirinbayan, Abbas Tcharkhtchi

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Due to material flow during processing, short fiber reinforced composites structures obtained by injection or compression molding generally present strong spatial microstructure variation. On the other hand, quasi-static, dynamic, and fatigue behavior of these materials are highly dependent on microstructure parameters such as fiber orientation distribution. Indeed, because of complex damage mechanisms, SFRC structures design is a key challenge for safety and reliability. In this paper, we propose a micromechanical model allowing prediction of damage behavior of real structures as a function of microstructure spatial distribution. To this aim, a statistical damage criterion including strain rate and fatigue effect at the local scale is introduced into a Mori and Tanaka model. A critical local damage state is identified, allowing fatigue life prediction. Moreover, the multi-scale model is coupled with an experimental intrinsic link between damage under monotonic loading and fatigue life in order to build an abacus giving Tsai-Wu failure criterion parameters as a function of microstructure and targeted fatigue life. On the other hand, the micromechanical damage model gives access to the evolution of the anisotropic stiffness tensor of SFRC submitted to complex thermomechanical loading, including quasi-static, dynamic, and cyclic loading with temperature and amplitude variations. Then, the latter is used to fill out microstructure dependent material cards in finite element analysis for design optimization in the case of complex loading history. The proposed methodology is illustrated in the case of a real automotive component made of sheet molding compound (PSA 3008 tailgate). The obtained results emphasize how the proposed micromechanical methodology opens a new path for the automotive industry to lighten vehicle bodies and thereby save energy and reduce gas emission.

Keywords: short fiber reinforced composite, structural design, damage, micromechanical modelling, fatigue, strain rate effect

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2619 Restoring Total Form and Function in Patients with Lower Limb Bony Defects Utilizing Patient-Specific Fused Deposition Modelling- A Neoteric Multidisciplinary Reconstructive Approach

Authors: Divya SY. Ang, Mark B. Tan, Nicholas EM. Yeo, Siti RB. Sudirman, Khong Yik Chew

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Introduction: The importance of the amalgamation of technological and engineering advances with surgical principles of reconstruction cannot be overemphasized. With earlier detection of cancer, consequences of high-speed living and neglect, like traumatic injuries and infection, resulting in increasingly younger patients with bone defects. This may result in malformations and suboptimal function that is more noticeable and palpable in the younger, active demographic. Our team proposes a technique that encapsulates a mesh of multidisciplinary effort, tissue engineering and reconstructive principles. Methods/Materials: Our patient was a young competitive footballer in his early 30s who was diagnosed with submandibular adenoid cystic carcinoma with bony involvement. He was thus counselled for a right hemi mandibulectomy, the floor of mouth resection, right selective neck dissection, tracheostomy, and free fibular flap reconstruction of his mandible and required post-operative radiotherapy. Being young and in his prime sportsman years, he was unable to accept the morbidities associated with using his fibula to reconstruct his mandible despite it being the gold standard reconstructive option. The fibula is an ideal vascularized bone flap because it’s reliable and easily shaped with relatively minimal impact on functional outcomes. The fibula contributes to 30% of weightbearing and is the attachment for the lateral compartment muscles; it is stronger in footballers concerning lateral bending. When harvesting the fibula, the distal 6-8cm and up to 10% of the total length is preserved to maintain the ankle’s stability, thus, minimizing the impact on daily activities. There are studies that have noted gait variability post-operatively. Therefore, returning to a premorbid competitive level may be doubtful. To improve his functional outcomes, the decision was made to try and restore the fibula's form and function. Using the concept of Fused Deposition Modelling (FDM), our team comprising of Plastics, Otolaryngology, Orthopedics and Radiology, worked with Osteopore to design a 3D bioresorbable implant to regenerate the fibula defect (14.5cm). Bone marrow was harvested via reaming the contralateral hip prior to the wide resection. 30mls of his blood was obtained for extracting platelet rich plasma. These were packed into the Osteopore 3D-printed bone scaffold. This was then secured into the fibula defect with titanium plates and screws. The flexor hallucis longus and soleus were anchored along the construct and intraosseous membrane, done in a single setting. Results: He was reviewed closely as an outpatient over 10 months post operatively. He reported no discernable loss or difference in ankle function. He is satisfied and back in training and our team has video and photographs that substantiate his progress. Conclusion: FDM allows regeneration of long bone defects. However, we aimed to also restore his eversion and inversion that is imperative for footballers and hence reattached his previously dissected muscles along the length of the Osteopore implant. We believe that the reattachment of the muscle stabilizes not only the construct but allows optimum muscle tensioning when moving his ankle. This is a simple but effective technique in restoring complete function and form in a young patient whose minute muscle control is imperative to life.

Keywords: fused deposition modelling, functional reconstruction, lower limb bony defects, regenerative surgery, 3D printing, tissue engineering

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2618 Correction of Frequent English Writing Errors by Using Coded Indirect Corrective Feedback and Error Treatment: The Case of Reading and Writing English for Academic Purposes II

Authors: Chaiwat Tantarangsee

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The purposes of this study are 1) to study the frequent English writing errors of students registering the course: Reading and Writing English for Academic Purposes II, and 2) to find out the results of writing error correction by using coded indirect corrective feedback and writing error treatments. Samples include 28 2nd year English Major students, Faculty of Education, Suan Sunandha Rajabhat University. Tool for experimental study includes the lesson plan of the course; Reading and Writing English for Academic Purposes II, and tool for data collection includes 4 writing tests of short texts. The research findings disclose that frequent English writing errors found in this course comprise 7 types of grammatical errors, namely Fragment sentence, Subject-verb agreement, Wrong form of verb tense, Singular or plural noun endings, Run-ons sentence, Wrong form of verb pattern and Lack of parallel structure. Moreover, it is found that the results of writing error correction by using coded indirect corrective feedback and error treatment reveal the overall reduction of the frequent English writing errors and the increase of students’ achievement in the writing of short texts with the significance at .05.

Keywords: coded indirect corrective feedback, error correction, error treatment, English writing

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2617 Prognostic Factors for Mortality and Duration of Admission in Malnourished Hospitalized, Elderly Patients: A Cross-Sectional Study

Authors: Christos E. Lampropoulos, Maria Konsta, Vicky Dradaki, Irini Dri, Tamta Sirbilatze, Ifigenia Apostolou, Christina Kordali, Konstantina Panouria, Kostas Argyros, Georgios Mavras

Abstract:

Malnutrition in hospitalized patients is related to increased morbidity and mortality. Purpose of our study was to assess nutritional status of hospitalized, elderly patients with various nutritional scores and to detect unfavorable prognostic factors, related to increased mortality and extended duration of admission. Methods: 150 patients (78 men, 72 women, mean age 80±8.2) were included in this cross-sectional study. Nutritional status was assessed by Mini Nutritional Assessment (MNA full, short-form), Malnutrition Universal Screening Tool (MUST) and short Nutritional Appetite Questionnaire (sNAQ). The following data were incorporated in analysis: Anthropometric and laboratory data, physical activity (International Physical Activity Questionnaires, IPAQ), smoking status, dietary habits and mediterranean diet (assessed by MedDiet score), cause and duration of current admission, medical history (co-morbidities, previous admissions). Primary endpoints were the mortality (from admission until 6 months afterwards) and duration of admission, compared to national guidelines for closed consolidated medical expenses. Mann-Whitney two-sample statistics or t-test was used for group comparisons and Spearman or Pearson coefficients for testing correlation between variables. Results: Normal nutrition was assessed in 54/150 (36%), 92/150 (61.3%) and in 106/150 (70.7%) of patients, according to full MNA, MUST and sNAQ questionnaires respectively. Mortality rate was 20.7% (31/150 patients). The patients who died until 6 months after admission had lower BMI (24±4.4 vs 26±4.8, p=0.04) and albumin levels (2.9±0.7 vs 3.4±0.7, p=0.002), significantly lower full MNA (14.5±7.3 vs 20.7±6, p<0.0001) and short-form MNA scores (7.3±4.2 vs 10.5±3.4, p=0.0002) compared to non-dead one. In contrast, the aforementioned patients had higher MUST (2.5±1.8 vs 0.5±1.02, p=<0.0001) and sNAQ scores (2.9±2.4 vs 1.1±1.3, p<0.0001). Additionally, they showed significantly lower MedDiet (23.5±4.3 vs 31.1±5.6, p<0.0001) and IPAQ scores (37.2±156.2 vs 516.5±1241.7, p<0.0001) compared to remaining one. These patients had extended hospitalization [5 (0-13) days vs 0 (-1-3) days, p=0.001]. Patients who admitted due to cancer depicted higher mortality rate (10/13, 77%), compared to those who admitted due to infections (12/73, 18%), stroke (4/15, 27%) or other causes (4/49, 8%) (p<0.0001). Extension of hospitalization was negatively correlated to both full (Spearman r=-0.35, p<0.0001) and short-form MNA (Spearman r=-0.33, p<0.0001) and positively correlated to MUST (Spearman r=0.34, p<0.0001) and sNAQ (Spearman r=0.3, p=0.0002). Additionally, the extension was inversely related to MedDiet score (Spearman r=-0.35, p<0.0001), IPAQ score (Spearman r=-0.34, p<0.0001), albumin levels (Pearson r=-0.36, p<0.0001), Ht (Pearson r=-0.2, p=0.02) and Hb (Pearson r=-0.18, p=0.02). Conclusion: A great proportion of elderly, hospitalized patients are malnourished or at risk of malnutrition. All nutritional scores, physical activity and albumin are significantly related to mortality and increased hospitalization.

Keywords: dietary habits, duration of admission, malnutrition, prognostic factors for mortality

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2616 Contribution to the Development of a New Design of Dentist's Gowns: A Case Study of Using Infra-Red Technology and Pressure Sensors

Authors: Tran Thi Anh Dao, M. Arnold, L. Schacher, D. C. Adolphe, G. Reys

Abstract:

During tooth extraction or implant surgery, dentists are in contact with numerous infectious germs from patients' saliva and blood. For that reason, dentist's clothes have to play their role of protection from contamination. In addition, dentist's apparels should be not only protective but also comfortable and breathable because dentists have to perform many operations and treatments on patients throughout the day with high concentration and intensity. However, this type of protective garments has not been studied scientifically, whereas dentists are facing new risks and eager for looking for a comfortable personal protective equipment. For that reason, we have proposed some new designs of dentist's gown. They were expected to diminish heat accumulation that are considered as an important factor in reducing the level of comfort experienced by users. Experiments using infra-red technology were carried out in order to compare the breathable properties between a traditional gown and a new design with open zones. Another experiment using pressure sensors was also carried out to study ergonomic aspects trough the flexibility of movements of sleeves. The sleeves-design which is considered comfortable and flexible will be chosen for the further step. The results from the two experiments provide valuable information for the development of a new design of dentists' gowns in order to achieve maximum levels of cooling and comfort for the human body.

Keywords: garment, dentists, comfort, design, protection, thermal

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2615 The Impact of a Five-Day Basic Disaster Management Training on Disaster Risk Reduction: Case Study of Indonesia Defense University

Authors: Jazmi Adlan Bohari, I. Dewa Ketut Kerta Widana

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Education on disaster management has been made as a mainstream focus of many countries. In Indonesia, this has been emphasized with the direct order of the President of Indonesia to implement disaster education at all levels in both formal and informal education. Indonesia Defense University (IDU) executes this order through Three Pillars of Higher Education, which consists of research, education, and community service. One of them is a five-day disaster management training for 105 participants divided into three batches that consist of faculty members and graduate students. This training uses the 2018 Basic Disaster Management Training Modul issued by the Indonesia National Disaster Management Agency (BNPB). This research aims to analyze the impact of this short training on the trainee’s knowledge and understanding of basic disaster management. This study is a qualitative research with case study approach. The research shows that after five days of training, there as a significant increase in knowledge and understanding of basic disaster management experienced by the trainees with a 61,73% overall increase. The post-training data shows that 61% of the trainees have a very good understanding, 24% with good understanding, 13% with adequate understanding, and 2% with poor understanding. The result suggests that a short-time education with a structured curriculum can successfully increase the knowledge and understanding of disaster management on a basic level and can hypothetically contribute to the effort to reduce disaster risks.

Keywords: disaster education, basic disaster management training, three Pillars of Higher Education, disaster risk reduction

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2614 Causality between Stock Indices and Cryptocurrencies during the Russia-Ukraine War

Authors: Nidhal Mgadmi, Abdelhafidh Othmani

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This article examines the causal relationship between stock indices and cryptocurrencies during the current war between Russia and Ukraine. The econometric investigation runs from February 24, 2022, to April 12, 2023, focusing on seven stock market indices (S&P500, DAX, CAC40, Nikkei, TSX, MOEX, and PFTS) and seven cryptocurrencies (Bitcoin, Ethereum, Litcoin, Dash, Ripple, DigiByte and XEM). In this article, we try to understand how investors react to fluctuations in financial assets to seek safe havens in cryptocurrencies. We used dynamic causality to detect a possible causal relationship in the short term and seven models to estimate the long-term relationship between cryptocurrencies and financial assets. The causal relationship between financial market indexes and cryptocurrency coins in the short run indicates that three famous cryptocurrencies (BITCOIN, ETHEREUM, RIPPLE) and the two digital assets with minor popularity (XEM, Digibyte) are impacted by the German, Russian, and Ukrainian stock markets. In the long run, we found a positive and significate effect of the American, Canadian, French, and Ukrainian stock market indexes on Bitcoin. Thus, the stability of the traditional financial markets during the current war period can be explained on the one hand by investors’ fears of an unstable business climate, and on the other hand, by speculators’ sentiment towards new electronic products, which are perceived as hedging instruments and a safe haven in the face of the conflict between Ukraine and Russia.

Keywords: causality, stock indices, cryptocurrency, war, Russia, Ukraine

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2613 A Comparative Study on the Dimensional Error of 3D CAD Model and SLS RP Model for Reconstruction of Cranial Defect

Authors: L. Siva Rama Krishna, Sriram Venkatesh, M. Sastish Kumar, M. Uma Maheswara Chary

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Rapid Prototyping (RP) is a technology that produces models and prototype parts from 3D CAD model data, CT/MRI scan data, and model data created from 3D object digitizing systems. There are several RP process like Stereolithography (SLA), Solid Ground Curing (SGC), Selective Laser Sintering (SLS), Fused Deposition Modelling (FDM), 3D Printing (3DP) among them SLS and FDM RP processes are used to fabricate pattern of custom cranial implant. RP technology is useful in engineering and biomedical application. This is helpful in engineering for product design, tooling and manufacture etc. RP biomedical applications are design and development of medical devices, instruments, prosthetics and implantation; it is also helpful in planning complex surgical operation. The traditional approach limits the full appreciation of various bony structure movements and therefore the custom implants produced are difficult to measure the anatomy of parts and analyse the changes in facial appearances accurately. Cranioplasty surgery is a surgical correction of a defect in cranial bone by implanting a metal or plastic replacement to restore the missing part. This paper aims to do a comparative study on the dimensional error of CAD and SLS RP Models for reconstruction of cranial defect by comparing the virtual CAD with the physical RP model of a cranial defect.

Keywords: rapid prototyping, selective laser sintering, cranial defect, dimensional error

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2612 Optimal Allocation of Battery Energy Storage Considering Stiffness Constraints

Authors: Felipe Riveros, Ricardo Alvarez, Claudia Rahmann, Rodrigo Moreno

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Around the world, many countries have committed to a decarbonization of their electricity system. Under this global drive, converter-interfaced generators (CIG) such as wind and photovoltaic generation appear as cornerstones to achieve these energy targets. Despite its benefits, an increasing use of CIG brings several technical challenges in power systems, especially from a stability viewpoint. Among the key differences are limited short circuit current capacity, inertia-less characteristic of CIG, and response times within the electromagnetic timescale. Along with the integration of CIG into the power system, one enabling technology for the energy transition towards low-carbon power systems is battery energy storage systems (BESS). Because of the flexibility that BESS provides in power system operation, its integration allows for mitigating the variability and uncertainty of renewable energies, thus optimizing the use of existing assets and reducing operational costs. Another characteristic of BESS is that they can also support power system stability by injecting reactive power during the fault, providing short circuit currents, and delivering fast frequency response. However, most methodologies for sizing and allocating BESS in power systems are based on economic aspects and do not exploit the benefits that BESSs can offer to system stability. In this context, this paper presents a methodology for determining the optimal allocation of battery energy storage systems (BESS) in weak power systems with high levels of CIG. Unlike traditional economic approaches, this methodology incorporates stability constraints to allocate BESS, aiming to mitigate instability issues arising from weak grid conditions with low short-circuit levels. The proposed methodology offers valuable insights for power system engineers and planners seeking to maintain grid stability while harnessing the benefits of renewable energy integration. The methodology is validated in the reduced Chilean electrical system. The results show that integrating BESS into a power system with high levels of CIG with stability criteria contributes to decarbonizing and strengthening the network in a cost-effective way while sustaining system stability. This paper potentially lays the foundation for understanding the benefits of integrating BESS in electrical power systems and coordinating their placements in future converter-dominated power systems.

Keywords: battery energy storage, power system stability, system strength, weak power system

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2611 Graphene Reinforced Magnesium Metal Matrix Composites for Biomedical Applications

Authors: Khurram Munir, Cuie Wen, Yuncang Li

Abstract:

Magnesium (Mg) metal matrix composites (MMCs) reinforced with graphene nanoplatelets (GNPs) have been developed by powder metallurgy (PM). In this study, GNPs with different concentrations (0.1-0.3 wt.%) were dispersed into Mg powders by high-energy ball-milling processes. The microstructure and resultant mechanical properties of the fabricated nanocomposites were characterized using transmission electron microscopy (TEM), scanning electron microscopy (SEM), energy dispersive X-ray spectroscopy (EDX), X-ray diffraction (XRD), Raman spectroscopy (RS), compression and nano-wear tests. The corrosion resistance of the fabricated composites was evaluated by electrochemical tests and hydrogen evolution measurements. Finally, the biological response of Mg-GNPs composites was assessed using osteoblast-like SaOS2 cells. The results indicate that GNPs are excellent candidates as reinforcements in Mg matrices for the manufacture of biodegradable Mg-based composite implants. GNP addition improved the mechanical properties of Mg via synergetic strengthening modes. Moreover, retaining the structural integrity of GNPs during PM processing improved the ductility, compressive strength, and corrosion resistance of the Mg-GNP composites as compared to monolithic Mg. Cytotoxicity assessments did not reveal any significant toxicity with the addition of GNPs to Mg matrices. This study demonstrates that Mg-xGNPs with x < 0.3 wt.%, may constitute novel biodegradable implant materials for load-bearing applications.

Keywords: magnesium-graphene composites, strengthening mechanisms, In vitro cytotoxicity, biocorrosion

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2610 Raising Awareness to Health Professionals about Emotional Needs of Families Suffering Perinatal Loss through a Short Documentary

Authors: Elisenda Camprecios, Alicia Macarrila, Montse Albiol, Neus Garriga Garriga

Abstract:

The loss of a child during pregnancy, or shortly after birth, is not a common occurrence, but it is a prevalent fact in our society. When this loss happens, life and death walk together. The grief that parents experience following a perinatal loss is a devastating experience. Professionals are aware that the quality of care offered during this first period is crucial to support the families experiencing a perinatal loss and meet their needs. However, it is not always easy for the health care professionals to know what to say and what to do in these difficult circumstances. Given the complexity of the Health, painful process that a family must face when is affected by such loss, we believe that the creation of a protocol that pays special attention to the emotional needs of those couples can be a very valuable tool for the professionals. The short documentary named ‘When the illusion vanished’ was created as part of the material of this protocol, which focuses on the emotional needs of the families who have suffered a perinatal loss. This video is designed to see what impact has a perinatal death and to raise awareness among professionals working in this field. The methodology is based on interviews with couples who have experienced perinatal death and to professionals who accompany families suffering from perinatal loss. The use of sensitive and empathized words, being encouraged to express feelings, respect the time, appropriate training for the professionals are some of the issues reflected in this documentary. We believe that this video has contributed to help health care professionals to empathize and understand the need to be able to accompany these families with the appropriate care, respectful, empathetic attitude and professionalism so that they can start the path to a ‘healthy’ mourning.

Keywords: neonatal loss, midwifery, perinatal bereavement, perinatal loss

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2609 Auditory and Language Skills Development after Cochlear Implantation in Children with Multiple Disabilities

Authors: Tamer Mesallam, Medhat Yousef, Ayna Almasaad

Abstract:

BACKGROUND: Cochlear implantation (CI) in children with additional disabilities can be a fundamental and supportive intervention. Although, there may be some positive impacts of CI on children with multiple disabilities such as better outcomes of communication skills, development, and quality of life, the families of those children complain from the post-implant habilitation efforts that considered as a burden. OBJECTIVE: To investigate the outcomes of CI children with different co-disabilities through using the Meaningful Auditory Integration Scale (MAIS) and the Meaningful Use of Speech Scale (MUSS) as outcome measurement tools. METHODS: The study sample comprised 25 hearing-impaired children with co-disability who received cochlear implantation. Age and gender-matched control group of 25 cochlear-implanted children without any other disability has been also included. The participants' auditory skills and speech outcomes were assessed using MAIS and MUSS tests. RESULTS: There was a statistically significant difference in the different outcomes measure between the two groups. However, the outcomes of some multiple disabilities subgroups were comparable to the control group. Around 40% of the participants with co-disabilities experienced advancement in their methods of communication from behavior to oral mode. CONCLUSION: Cochlear-implanted children with multiple disabilities showed variable degrees of auditory and speech outcomes. The degree of benefits depends on the type of the co-disability. Long-term follow-up is recommended for those children.

Keywords: children with disabilities, Cochlear implants, hearing impairment, language development

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2608 Colonization Pattern and Growth of Reintroduced Tiger (Panthera tigris) Population at Central India

Authors: M. S. Sarkar, J. A. Johnson, S. Sen, G. K. Saha, K. Ramesh

Abstract:

There is growing recognition of several important roles played by tigers for maintaining sustainable biodiversity at diverse ecosystems in South and South-East Asia. Only <3200 individuals are left in the wild because of poaching and habitat loss. Thus, restoring wild population is an emerging as well as important conservation initiative, but such efforts still remain challenging due to their elusive and solitary behavior. After careful translocation of few individuals, how reintroduced individuals colonize into suitable habitat and achieve stable stage population through reproduction is vital information for forest managers and policy makers of its 13 distribution range countries. Four wild and two captive radio collared tigers were reintroduced at Panna Tiger Reserve, Madhya-pradesh, India during 2009-2014. We critically examined their settlement behavior and population growth over the period. Results from long term telemetry data showed that male explored larger areas rapidly in short time span, while females explored small area in long time period and with significant high rate of movement in both sexes during exploratory period. Significant difference in home range sizes of tigers were observed in exploratory and settlement period. Though all reintroduced tigers preferred densely vegetated undisturbed forest patches within the core area of tiger reserve, a niche based k select analysis showed that individual variation in habitat selection was prominent among reintroduced tigers. Total 18 litter of >42 known cubs were born with low mortality rate, high maternity rate, high observed growth rate and short generation time in both the sexes. The population achieved its carrying capacity in a very short time span, marking success of this current tiger conservation programme. Our study information could provide significant insights on the tiger biology of translocated tigers with implication for future conservation strategies that consider translocation based recovery in their range countries.

Keywords: reintroduction, tiger, home range, demography

Procedia PDF Downloads 199
2607 Forecast Dispersion, Investor Sentiment and the Cross Section of Stock Returns

Authors: Guoyu Lin

Abstract:

This paper explores the role investor sentiment plays in the relationship between analyst forecast dispersion and stock returns. With short sale constraints, stock prices are determined by the optimistic investors. During the high sentiment periods when investors suffer more from psychological bias, there are more optimistic investors. This is the first paper to document that following the high sentiment periods, stocks with the most analyst forecast dispersion are overpriced, earning significantly negative returns, while those with the least analyst forecast dispersion are not overpriced as the degree of belief dispersion is low. However, following the low sentiment periods, both are not overpriced. A portfolio which longs the least dispersed stocks and shorts the most dispersed stocks yields significantly positive returns only following the high sentiment periods. My findings can potentially reconcile the puzzling risk effect and mispricing effect in the literature. The risk (mispricing) effect suggests a positive (negative) relation between analyst forecast dispersion and future stock returns. Presumably, the magnitude of the mispricing effect depends on the proportion of irrational investors and their bias, which is positively related to investor sentiment. During the high sentiment period, the mispricing effect takes over and the overall effect is negative. During the low sentiment period, the percentage of irrational investors is mediate, and the mispricing effect and the risk effect counter each other, leading to insignificant relation.

Keywords: analyst forecast dispersion, short-sale constraints, investor sentiment, stock returns

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2606 Physicochemical Characterization of Coastal Aerosols over the Mediterranean Comparison with Weather Research and Forecasting-Chem Simulations

Authors: Stephane Laussac, Jacques Piazzola, Gilles Tedeschi

Abstract:

Estimation of the impact of atmospheric aerosols on the climate evolution is an important scientific challenge. One of a major source of particles is constituted by the oceans through the generation of sea-spray aerosols. In coastal areas, marine aerosols can affect air quality through their ability to interact chemically and physically with other aerosol species and gases. The integration of accurate sea-spray emission terms in modeling studies is then required. However, it was found that sea-spray concentrations are not represented with the necessary accuracy in some situations, more particularly at short fetch. In this study, the WRF-Chem model was implemented on a North-Western Mediterranean coastal region. WRF-Chem is the Weather Research and Forecasting (WRF) model online-coupled with chemistry for investigation of regional-scale air quality which simulates the emission, transport, mixing, and chemical transformation of trace gases and aerosols simultaneously with the meteorology. One of the objectives was to test the ability of the WRF-Chem model to represent the fine details of the coastal geography to provide accurate predictions of sea spray evolution for different fetches and the anthropogenic aerosols. To assess the performance of the model, a comparison between the model predictions using a local emission inventory and the physicochemical analysis of aerosol concentrations measured for different wind direction on the island of Porquerolles located 10 km south of the French Riviera is proposed.

Keywords: sea-spray aerosols, coastal areas, sea-spray concentrations, short fetch, WRF-Chem model

Procedia PDF Downloads 171
2605 Conserved Stem-Loop Structure at the End of Short Interspersed Nuclear Elements (SINE) and Long Interspersed Nuclear Elements (LINE) Pairs of Different Species

Authors: Daria Grechishnikova, Maria Poptsova

Abstract:

Transposable elements play an important role in the evolution of various species from bacteria to human. Long Interspersed Nuclear Elements (LINEs) and Short Interspersed Nuclear Elements (SINEs) are two major classes of retrotransposons that occupy a considerable part of any genome and their copy numbers can range form several hundreds to a million. Both LINEs and SINEs multiply through a copy-and-paste mechanism. LINEs encode proteins, which make them capable of self-propagation while SINEs are parasitic and require the machinery of LINEs to multiply. The mechanisms how LINE and SINE RNA is recognized by the LINE-encoded reverse transcriptase (RT) remain unclear. For some SINE-LINE pairs, it was shown that they share a common 3’-end with a stem-loop structure. Majority of the SINE-LINE pairs do not have a common 3’-end. Recently we have shown that in the human genome Alu-L1 pairs have structurally similar stem-loop structure at the 3’-end. Here we extended our analysis to a wide range of species and analyzed LINEs from 161 different species from Repbase and 217 SINE sequences from SINEBase. It appeared that all of the analyzed sequences contained stem-loop structures at the 3’-end. Here we conclude that it is very likely that a common evolutionary mechanism of transposon RNA recognition requires the presence of stem-loop structures at their 3’-end.

Keywords: LINE, SINE, mechanisms of retrotransposition, retrotransposons, stem-loop, stem-loop structures, transposons

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2604 Manufacturing and Characterization of Bioresorbable Self-Reinforced PLA Composites for Bone Applications

Authors: Carolina Pereira Lobato Costa, Cristina Pascual-González, Monica Echeverry, Javier LLorca, Carlos Gonzáléz, Juan Pedro Fernández-Bláquez

Abstract:

Although the potential of PLA self-reinforced composites for bone applications, not much literature addresses optimal manufacturing conditions. In this regard, this paper describes the woven self-reinforced PLA composites manufacturing processes: the commingling of yarns, weaving, and hot pressing and characterizes the manufactured laminates. Different structures and properties can be achieved by varying the hot compaction process parameters (pressure, holding time, and temperature). The specimens manufactured were characterized in terms of thermal properties (DSC), microstructure (C-scan optical microscope and SEM), strength (tensile test), and biocompatibility (MTT assays). Considering the final device, 155 ℃ for 10 min at 2 MPa act as the more appropriate hot pressing parameters. The laminate produced with these conditions has few voids/porosity, a tensile strength of 30.39 ± 1.21 MPa, and a modulus of 4.09 ± 0.24 GPa. Subsequently to the tensile testing was possible to observe fiber pullout from the fracture surfaces, confirming that this material behaves as a composite. From the results, no single laminate can fulfill all the requirements, being necessary to compromise in function of the priority property. Further investigation is required to improve materials' mechanical performance. Subsequently, process parameters and materials configuration can be adjusted depending on the place and type of implant to suit its function.

Keywords: woven fabric, self-reinforced polymer composite, poly(lactic acid), biodegradable

Procedia PDF Downloads 169
2603 The Impact of Maternity Leave Reforms: Evidence from Finland

Authors: Claudia Troccoli

Abstract:

Childbearing constitutes one of the key factors affecting labour market differences between men and women, accounting for almost a quarter of the gender wage gap. Family leave policies, such as maternity, paternity, and parental leave, represent potential key policy tools to address these inequalities, as they can promote mothers' job continuity and career progression. This paper analyses four major reforms implemented in Finland between the 1960s and the early 1980s. It studies the effects of these maternity and parental leave extensions on mothers' short- and long-run labour market outcomes. Eligibility to longer leave was determined on the basis of the child's date of birth. Therefore, estimation of the causal effects of the reforms is possible by exploiting random variation in children's birthdates and comparing the outcomes of mothers giving birth just before and just after the reform cutoff date. Overall, the three maternity leave reforms did not significantly improve mothers' earnings or employment rates. On the contrary, the estimates, although imprecise, seem to indicate negative effects on women's labour market outcomes. The extension of parental leave is, on the other hand, the only reform that improved mothers' short- and long-term labour market outcomes, both in terms of earnings and employment rate. At the same time, fathers appeared to be negatively affected by the reform. These results provide suggestive evidence that shareable parental leave might have more beneficial effects on mothers' job continuity, as it weakens the connotation of childcare as a task reserved for mothers.

Keywords: family policies, Finland, maternal labour market outcomes, maternity leave

Procedia PDF Downloads 117
2602 Comparative Evaluation of High Pure Mn3O4 Preparation Technique between the Conventional Process from Electrolytic Manganese and a Sustainable Approach Directly from Low-Grade Rhodochrosite

Authors: Fang Lian, Zefang Chenli, Laijun Ma, Lei Mao

Abstract:

Up to now, electrolytic process is a popular way to prepare Mn and MnO2 (EMD) with high purity. However, the conventional preparation process of manganese oxide such as Mn3O4 with high purity from electrolytic manganese metal is characterized by long production-cycle, high-pollution discharge and high energy consumption especially initially from low-grade rhodochrosite, the main resources for exploitation and applications in China. Moreover, Mn3O4 prepared from electrolytic manganese shows large particles, single morphology beyond the control and weak chemical activity. On the other hand, hydrometallurgical method combined with thermal decomposition, hydrothermal synthesis and sol-gel processes has been widely studied because of its high efficiency, low consumption and low cost. But the key problem in direct preparation of manganese oxide series from low-grade rhodochrosite is to remove completely the multiple impurities such as iron, silicon, calcium and magnesium. It is urgent to develop a sustainable approach to high pure manganese oxide series with character of short process, high efficiency, environmentally friendly and economical benefit. In our work, the preparation technique of high pure Mn3O4 directly from low-grade rhodochrosite ore (13.86%) was studied and improved intensively, including the effective leaching process and the short purifying process. Based on the same ion effect, the repeated leaching of rhodochrosite with sulfuric acid is proposed to improve the solubility of Mn2+ and inhibit the dissolution of the impurities Ca2+ and Mg2+. Moreover, the repeated leaching process could make full use of sulfuric acid and lower the cost of the raw material. With the aid of theoretical calculation, Ba(OH)2 was chosen to adjust the pH value of manganese sulfate solution and BaF2 to remove Ca2+ and Mg2+ completely in the process of purifying. Herein, the recovery ratio of manganese and removal ratio of the impurity were evaluated via chemical titration and ICP analysis, respectively. Comparison between conventional preparation technique from electrolytic manganese and a sustainable approach directly from low-grade rhodochrosite have also been done herein. The results demonstrate that the extraction ratio and the recovery ratio of manganese reached 94.3% and 92.7%, respectively. The heavy metal impurities has been decreased to less than 1ppm, and the content of calcium, magnesium and sodium has been decreased to less than 20ppm, which meet standards of high pure reagent for energy and electronic materials. In compare with conventional technique from electrolytic manganese, the power consumption has been reduced to ≤2000 kWh/t(product) in our short-process approach. Moreover, comprehensive recovery rate of manganese increases significantly, and the wastewater generated from our short-process approach contains low content of ammonia/ nitrogen about 500 mg/t(product) and no toxic emissions. Our study contributes to the sustainable application of low-grade manganese ore. Acknowledgements: The authors are grateful to the National Science and Technology Support Program of China (No.2015BAB01B02) for financial support to the work.

Keywords: leaching, high purity, low-grade rhodochrosite, manganese oxide, purifying process, recovery ratio

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2601 Initiative Strategies on How to Increase Value Add of the Recycling Business

Authors: Yananda Siraphatthada

Abstract:

The current study was the succession of a previous study on value added of recycling business management. Its aims are to 1) explore conditions on how to increasing value add of Thai recycling business, and 2) exam the implementation of the 3-staged plan (short, medium, and long term), suggested by the former study, to increase value added of the recycling business as immediate mechanisms to accelerate government operation. Quantitative and qualitative methods were utilized in this research. A qualitative research consisted of in-depth interviews and focus group discussions. Responses were obtained from owners of the waste separation plants, and recycle shops, as well as officers in relevant governmental agencies. They were randomly selected via Quota Sampling. Data was analyzed via content analysis. The sample used for quantitative method consisted of 1,274 licensed recycling operators in eight provinces. The operators were randomly stratified via sampling method. Data were analyzed via descriptive statistics frequency, percentage, average (mean), and standard deviation. The study recommended three-staged plan: short, medium, and long terms. The plan included the development of logistics, the provision of quality market/plants, the amendment of recycling rules/regulation, the restructuring recycling business, the establishment of green-purchasing recycling center, support for the campaigns run by the International Green Purchasing Network (IGPN), conferences/workshops as a public forum to share insights among experts/concern people.

Keywords: strategies, value added, recycle, business

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2600 The Comparative Study of the Characteristics of Chinese and Foreign Excellent Woman’s Single Players’ Serve, Receive Tactic Author

Authors: Zhai Yuan, Wu Xueqing

Abstract:

This article statistics the technology which used by Chinese and foreign excellent players in the game, including types and serves areas,receive technology and effect and utilization ratio receiving and losing points. The sample is che videos which is world's top matches of excellent badminton athletes of che single, including Chinese players’ 43 games and foreign players’ 38 games. Conclusion: For the serving, Chinese and foreign single players are to give priority to forehand short-low serve and the long-high serve. And Chinese and foreign players in using forehand short-low serve and drive server exist significant differences; For the serves areas, Chinese and foreign players serve area is concentrated in area 1,5,6. Area 6 has the highest rate of all the district areas, following by the area 1and area 5. Among the 2ed serve area Sino-foreign player, there exist significant differences; In the receiver, when returning the frontcourt shutter, players is given priority to net lift and push. When returning the backcourt shutter, receiver's the best ball is smash, followed by clear and drop shot. Foreign players have higher utilization rate in smash than Chinese players in the backcourt; In the receiver result, Chinese players give priority to actively and equally situation than foreign players, but in negatively receiving is just opposite.

Keywords: badminton, woman’s singles, technique and tactics, comparative analysis

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2599 A Long Short-Term Memory Based Deep Learning Model for Corporate Bond Price Predictions

Authors: Vikrant Gupta, Amrit Goswami

Abstract:

The fixed income market forms the basis of the modern financial market. All other assets in financial markets derive their value from the bond market. Owing to its over-the-counter nature, corporate bonds have relatively less data publicly available and thus is researched upon far less compared to Equities. Bond price prediction is a complex financial time series forecasting problem and is considered very crucial in the domain of finance. The bond prices are highly volatile and full of noise which makes it very difficult for traditional statistical time-series models to capture the complexity in series patterns which leads to inefficient forecasts. To overcome the inefficiencies of statistical models, various machine learning techniques were initially used in the literature for more accurate forecasting of time-series. However, simple machine learning methods such as linear regression, support vectors, random forests fail to provide efficient results when tested on highly complex sequences such as stock prices and bond prices. hence to capture these intricate sequence patterns, various deep learning-based methodologies have been discussed in the literature. In this study, a recurrent neural network-based deep learning model using long short term networks for prediction of corporate bond prices has been discussed. Long Short Term networks (LSTM) have been widely used in the literature for various sequence learning tasks in various domains such as machine translation, speech recognition, etc. In recent years, various studies have discussed the effectiveness of LSTMs in forecasting complex time-series sequences and have shown promising results when compared to other methodologies. LSTMs are a special kind of recurrent neural networks which are capable of learning long term dependencies due to its memory function which traditional neural networks fail to capture. In this study, a simple LSTM, Stacked LSTM and a Masked LSTM based model has been discussed with respect to varying input sequences (three days, seven days and 14 days). In order to facilitate faster learning and to gradually decompose the complexity of bond price sequence, an Empirical Mode Decomposition (EMD) has been used, which has resulted in accuracy improvement of the standalone LSTM model. With a variety of Technical Indicators and EMD decomposed time series, Masked LSTM outperformed the other two counterparts in terms of prediction accuracy. To benchmark the proposed model, the results have been compared with traditional time series models (ARIMA), shallow neural networks and above discussed three different LSTM models. In summary, our results show that the use of LSTM models provide more accurate results and should be explored more within the asset management industry.

Keywords: bond prices, long short-term memory, time series forecasting, empirical mode decomposition

Procedia PDF Downloads 109