Search results for: profitability firm size

Authors: Oğuzhan Hasançebi, Saeid Kazemzadeh Azad

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Keywords: structural design optimization, optimal sizing, metaheuristics, self-adaptive step-size search, steel trusses, steel frames

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Authors: Danny Alexander R. Moreno, Gustavo L. Sartorello, Yuli Andrea P. Bermudez, Richard R. Lobo, Ives Claudio S. Bueno, Augusto H. Gameiro

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Meat production is a significant sector for Brazil's economy; however, the agricultural segment has suffered censure regarding the negative impacts on the environment, which consequently results in climate change. Therefore, it is essential the implementation of nutritional strategies that can improve the environmental performance of livestock. This research aimed to estimate the environmental impact and profitability of the use of yerba mate extract (Ilex paraguariensis) as an additive in the feeding of feedlot lamb. Thirty-six castrated male lambs (average weight of 23.90 ± 3.67 kg and average age of 75 days) were randomly assigned to four experimental diets with different levels of inclusion of yerba mate extract (0, 1, 2, and 4 %) based on dry matter. The animals were confined for fifty-three days and fed with 60:40 corn silage to concentrate ratio. As an indicator of environmental impact, the carbon footprint (CF) was measured as kg of CO₂ equivalent (CO₂-eq) per kg of body weight produced (BWP). The greenhouse gas (GHG) emissions such as methane (CH₄) generated from enteric fermentation, were calculated using the sulfur hexafluoride gas tracer (SF₆) technique; while the CH₄, nitrous oxide (N₂O - emissions generated by feces and urine), and carbon dioxide (CO₂ - emissions generated by concentrate and silage processing) were estimated using the Intergovernmental Panel on Climate Change (IPCC) methodology. To estimate profitability, the gross margin was used, which is the total revenue minus the total cost; the latter is composed of the purchase of animals and food. The boundaries of this study considered only the lamb fattening system. The enteric CH₄ emission from the lamb was the largest source of on-farm GHG emissions (47%-50%), followed by CH₄ and N₂O emissions from manure (10%-20%) and CO₂ emission from the concentrate, silage, and fossil energy (17%-5%). The treatment that generated the least environmental impact was the group with 4% of yerba mate extract (YME), which showed a 3% reduction in total GHG emissions in relation to the control (1462.5 and 1505.5 kg CO₂-eq, respectively). However, the scenario with 1% YME showed an increase in emissions of 7% compared to the control group. In relation to CF, the treatment with 4% YME had the lowest value (4.1 kg CO₂-eq/kg LW) compared with the other groups. Nevertheless, although the 4% YME inclusion scenario showed the lowest CF, the gross margin decreased by 36% compared to the control group (0% YME), due to the cost of YME as a food additive. The results showed that the extract has the potential for use in reducing GHG. However, the cost of implementing this input as a mitigation strategy increased the production cost. Therefore, it is important to develop political strategies that help reduce the acquisition costs of input that contribute to the search for the environmental and economic benefit of the livestock sector.

Keywords: meat production, natural additives, profitability, sheep

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Authors: Justice Zakhele Msomi

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Nanoparticles of CdFe2O4 with particle size of about 10 nm have been synthesized by high energy ball milling and co-precipitation processes. The synthesis route appears to have some effects on the properties. The compounds have been characterized by X-ray diffraction, Fourier Transform Infrared (FTIR), transmission electron microscopy (TEM), Mössbauer and magnetization measurements. The XRD pattern of CdFe2O4 provides information about single-phase formation of spinel structure with cubic symmetry. The FTIR measurements between 400 and 4000 cm-1 indicate intrinsic cation vibration of the spinel structure. The Mössbauer spectra were recorded at 4 K and 300 K. The hyperfine fields appear to be highly sensitive on particle size. The evolution of the properties as a function of particle size is also presented.

Keywords: ferrite, nanoparticles, magnetization, Mössbauer

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Authors: Bastola Narayan, Rajeev Ranjan

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The morphotropic phase boundary (MPB) in the magnetoelectric (1-x)BiFeO3-(x)PbTiO3 has remained a matter of controversy ever since its discovery in 1964. The nature of the phase stabilized (single phase tetragonal or coexistence of tetragonal and rhombohedral phases) is very sensitive to the slight changes in the synthesis conditions. It thus remained an enigma as to what is the essential physical factor which is controlled by the slight difference in the synthesis conditions that finally determines, whether the phase formed will be single phase or coexistence of phases. In this paper, we demonstrate that the nature of the phase stabilized in this system is uniquely dependent on the crystallite size. The system is shown to exhibit features of abnormal grain growth (AGG) during sintering with abrupt increase in the grain size from ~ 1 micron to ~ 10 microns. The 10 micron grains exhibit pure tetragonal phase while the 1 micron grains exhibit coexistence of rhombohedral and tetragonal ferroelectric phases. The Rietveld analysis of powder neutron diffraction shows a paramagnetic to antiferromagnetic order transition inducing with crystalline size reduction from 10 micron to 1 micron. Since tetragonal phase is known to have paramagnetic order and rhombohedral phase has antiferromagnetic order in room temperature, this further strengthens our argument of size induced structure transition.

Keywords: size driven MPB, size driven magnetic ordering, abnormal grain growth, phase formation in BF-PT system

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Authors: J. M. Geyser

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Lamb is a popular meat throughout the world, particularly in Europe, the Middle East and Oceania. However, the conventional lamb industry faces challenges related to environmental sustainability, climate change, consumer health and dwindling profit margins. This has stimulated an increasing demand for organic lamb, as it is perceived to increase environmental sustainability, offer superior quality, taste, and nutritional value, which is appealing to farmers, including small-scale and female farmers, as it often commands a premium price. Despite its advantages, organic lamb production presents challenges, with a significant hurdle being the high production costs encompassing organic certification, lower stocking rates, higher mortality rates and marketing cost. These costs impact the profitability and competitiveness or organic lamb producers, particularly female and small-scale farmers, who often encounter additional obstacles, such as limited access to resources and markets. Therefore, this paper examines the cost of producing organic lambs and its impact on female farmers and raises the research question: “Is organic lamb production the saving grace for female and small-scale farmers?” Objectives include estimating and comparing production costs and profitability or organic lamb production with conventional lamb production, analyzing influencing factors, and assessing opportunities and challenges for female and small-scale farmers. The hypothesis states that organic lamb production can be a viable and beneficial option for female and small-scale farmers, provided that they can overcome high production costs and access premium markets. The study uses a mixed-method approach, combining qualitative and quantitative data. Qualitative data involves semi-structured interviews with ten female and small-scale farmers engaged in organic lamb production in South Africa. The interview covered topics such as farm characteristics, practices, cost components, mortality rates, income sources and empowerment indicators. Quantitative data used secondary published information and primary data from a female farmer. The research findings indicate that when a female farmer moves from conventional lamb production to organic lamb production, the cost in the first year of organic lamb production exceed those of conventional lamb production by over 100%. This is due to lower stocking rates and higher mortality rates in the organic system. However, costs start decreasing in the second year as stocking rates increase due to manure applications on grazing and lower mortality rates due to better worm resistance in the herd. In conclusion, this article sheds light on the economic dynamics of organic lamb production, particularly focusing on its impact on female farmers. To empower female farmers and to promote sustainable agricultural practices, it is imperative to understand the cost structures and profitability of organic lamb production.

Keywords: cost analysis, empowerment, female farmers, organic lamb production

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Authors: Tassadit Tabouche

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Water sprays pattern, and water droplets size (different droplets diameter) are a key factors in the success of the suppression by water spray. The effects of the two important factors are investigated in this study. However, the fire extinguishing mechanism in such devices is not well understood due to the complexity of the physical and chemical interactions between water spray and fire plume. in this study, 3D, unsteady, two phase flow CFD simulation approach is introduced to provide a quantitative analysis of the complex interactions occurring between water spray and fire plume. Lagrangian Discrete Phase Model (DPM) was used for water droplets and a global one-step reaction mechanism in combustion model was used for fire plume.

Keywords: droplets, water spray, water droplets size, 3D

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Authors: Pavel Adámek

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This study examines perception of environmental approach in small and medium-sized enterprises (SMEs) – the process by which firms integrate environmental concern into business. Based on a review of the literature, the paper synthesizes focus on environmental issues with the reflection in a case study in the Czech Republic. Two themes of corporate environmentalism are discussed – corporate environmental orientation and corporate stances toward environmental concerns. It provides theoretical material on greening organizational culture that is helpful in understanding the response of contemporary business to environmental problems. We integrate theoretical predictions with empirical findings confronted with reality. Scales to measure these themes are tested in a survey of managers in 229 Czech firms. We used the process of in-depth questioning. The research question was derived and answered in the context of the corresponding literature and conducted research. A case study showed us that environmental approach is variety different (depending on the size of the firm) in SMEs sector. The results of the empirical mapping demonstrate Czech company’s approach to environment and define the problem areas and pinpoint the main limitation in the expansion of environmental aspects. We contribute to the debate for recognition of the particular role of environmental issues in business reality.

Keywords: corporate environmentalism, Czech Republic, empirical mapping, environmental performance

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Authors: Lucila T. Magalong

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The hotel industry has been using their corporate image and reputation to maintain service quality, customer satisfaction, and customer loyalty and to leverage themselves against competitors and facilitate their growth strategies. With the increasing pressure to perform, hotels have even created hybrid service strategy to fight in the niche markets across pricing and level-off service parameters.

Keywords: corporate image, hotel industry, service quality, customer expectations

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Authors: Myunghoun Jang

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A survey of small-size contractors in Jeju was conducted to investigate college graduate's computer-aided design (CAD) competence. Most of small-size contractors use CAD software to review and update drawings submitted from an architect. This research analyzed the curriculum of the architectural engineering in several national universities. The CAD classes have 4 or 6 hours per week and use AutoCAD primarily. This paper proposes that a CAD class needs 6 hours per week, 2D drawing is the main theme in the curriculum, and exercises to make 3D models are also included in the CAD class. An improved method, for example Internet cafe and real time feedbacks using smartphones, to evaluate the reports and exercise results is necessary.

Keywords: CAD (Computer Aided Design), CAD education, education improvement, small-size contractor

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Authors: Roman Marsalek

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In this paper, snow samples containing dust particles from several sampling points around the city of Ostrava were analyzed. The pH values of sampled snow were measured and solid particles analyzed. Particle size, zeta potential and content of selected heavy metals were determined in solid particles. The pH values of most samples lay in the slightly acid region. Mean values of particle size ranged from 290.5 to 620.5 nm. Zeta potential values varied between -5 and -26.5 mV. The following heavy metal concentration ranges were found: copper 0.08-0.75 mg/g, lead 0.05-0.9 mg/g, manganese 0.45-5.9 mg/g and iron 25.7-280.46 mg/g. The highest values of copper and lead were found in the vicinity of busy crossroads, and on the contrary, the highest levels of manganese and iron were detected close to a large steelworks. The proportion between pH values, zeta potentials, particle sizes and heavy metal contents was established. Zeta potential decreased with rising pH values and, simultaneously, heavy metal content in solid particles increased. At the same time, higher metal content corresponded to lower particle size.

Keywords: dust, snow, zeta potential, particles size distribution, heavy metals

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Authors: S. F. Wong, W. I. Ho, B. Lin, Q. Huang

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ERP has been used in many enterprises for management, the accuracy of the production forecasting module is vital to the decision making of the enterprise, and the profit is affected directly. Therefore, enhancing the accuracy of the production forecasting module can also increase the efficiency and profitability. To deal with a lot of data, a suitable, reliable and accurate statistics model is necessary. LSSVM and Grey System are two main models to be studied in this paper, and a case study is used to demonstrate how the combination model is effective to the result of forecasting.

Keywords: ERP, grey system, LSSVM, production forecasting

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Authors: Rachmat Mauludin, Nurmazidah

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Background and purpose: Famotidine is an H2 receptor blocker. Absorption orally is rapid enough, but famotidine can be degraded by stomach acid causing dose reduction until 35.8% after 50 minutes. This drug also undergoes first-pass metabolism which reduced its bio availability only until 40-50%. To overcome these problems, Solid Lipid Nano particles (SLNs) as alternative delivery systems can be formulated. SLNs is a lipid-based drug delivery technology with 50-1000 nm particle size, where the drug incorporated into the bio compatible lipids and the lipid particles are stabilized using appropriate stabilizers. When the particle size is 200 nm or below, lipid containing famotidine can be absorbed through the lymphatic vessels to the subclavian vein, so first-pass metabolism can be avoided. Method: Famotidine SLNs with various compositions of stabilizer was prepared using a high-speed homogenization and sonication method. Then, the particle size distribution, zeta potential, entrapment efficiency, particle morphology and in vitro release profiles were evaluated. Optimization of sonication time also carried out. Result: Particle size of SLN by Particle Size Analyzer was in range 114.6 up to 455.267 nm. Ultrasonicated SLNs within 5 minutes generated smaller particle size than SLNs which was ultrasonicated for 10 and 15 minutes. Entrapment efficiency of SLNs were 74.17 up to 79.45%. Particle morphology of the SLNs was spherical and distributed individually. Release study of Famotidine revealed that in acid medium, 28.89 up to 80.55% of famotidine could be released after 2 hours. Nevertheless in basic medium, famotidine was released 40.5 up to 86.88% in the same period. Conclusion: The best formula was SLNs which stabilized by 4% Poloxamer 188 and 1 % Span 20, that had particle size 114.6 nm in diameter, 77.14% famotidine entrapped, and the particle morphology was spherical and distributed individually. SLNs with the best drug release profile was SLNs which stabilized by 4% Eudragit L 100-55 and 1% Tween 80 which had released 36.34 % in pH 1.2 solution, and 74.13% in pH 7.4 solution after 2 hours. The optimum sonication time was 5 minutes.

Keywords: famotodine, SLN, high speed homogenization, particle size, release study

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Authors: Shivani Singla, Om Prakash Pandey, Gopi Sharma

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Metallic nanoparticle doped glasses has lead to rapid development in the field of optics. Large third order non-linearity, ultrafast time response, and a wide range of resonant absorption frequencies make these metallic nanoparticles more important in comparison to their bulk material. All these properties are highly dependent upon the size, shape, and surrounding environment of the nanoparticles. In a quest to find a suitable material for optical applications, several efforts have been devoted to improve the properties of such glasses in the past. In the present study, bismuth borate glass doped with different size gold nanoparticles (AuNPs) has been prepared using the conventional melt-quench technique. Synthesized glasses are characterized by X-ray diffraction (XRD) and Fourier Transformation Infrared spectroscopy (FTIR) to observe the structural modification in the glassy matrix with the variation in the size of the AuNPs. Glasses remain purely amorphous in nature even after the addition of AuNPs, whereas FTIR proposes that the main structure contains BO₃ and BO₄ units. Field emission scanning electron microscopy (FESEM) confirms the existence and variation in the size of AuNPs. Differential thermal analysis (DTA) depicts that prepared glasses are thermally stable and are highly suitable for the fabrication of optical fibers. The nonlinear optical parameters (nonlinear absorption coefficient and nonlinear refractive index) are calculated out by using the Z-scan technique with a Ti: sapphire laser at 800 nm. It has been concluded that the size of the nanoparticles highly influences the structural thermal and optical properties system.

Keywords: bismuth borate glass, different size, gold nanoparticles, nonlinearity

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Authors: Ichiro Takahashi

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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.

Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability

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Authors: Yadavalli Venkata Sridhar

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Finalization of Substation sizing and location is an important task to be carried out by electrical designers in an oil field. Practical issues influence the selection of size and location of the source substations that feed multiple production facilities are listed. Importance of selection of appropriately rated short circuit level for 11KV switchboards and constraints pertaining to availability of manufacturers are highlighted. Without being lost in the research of absolute optimum solution, under time constraints, the importance of practical approach is brought out. Focus on identifying near optimum solutions by process of elimination of unfeasible substation locations with the support of cost figures, is emphasized through a case study.

Keywords: substation, size, location, oil field

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Authors: V. Karamzadeh, J. Adhvaryu, A. Chandrasekaran, M. Packirisamy

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In Bulk Acoustic Wave (BAW) microfluidics, the throughput of particle sorting is dependent on the complex interplay between the geometric configuration of the channel, the size of the particles, and the properties of the fluid medium, which therefore calls for a detailed modeling and understanding of the fluid-particle interaction dynamics under an acoustic field, prior to designing the system. In this work, we propose a simplified Bulk acoustophoretic system that can be used for size dependent particle sorting. A Finite Element Method (FEM) based analytical model has been developed to study the dependence of particle sizes on channel parameters, and the sorting efficiency in a given fluid medium. Based on the results, the microfluidic system has been designed to take into account all the variables involved with the underlying physics, and has been fabricated using an additive manufacturing technique employing a commercial 3D printer, to generate a simple, cost-effective system that can be used for size sensitive particle sorting.

Keywords: 3D printing, 3D microfluidic chip, acoustophoresis, cell separation, MEMS (Microelectromechanical Systems), microfluidics

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Authors: Zehui Du, Chaiwat Prapainainar, Paisan Kongkachuichay, Paweena Prapainainar

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The aim of this work was to obtain small crystalline size and high crystallinity of mordenites and analcimes, by modifying the aging time, agitation, water content, crystallization temperature and crystallization time. Two different hydrothermal methods were studied. Both methods used Na2SiO3 as the silica source, NaAlO2 as the aluminum source, and NaOH as the alkali source. The first method used HMI as the template while the second method did not use the template. Mordenite crystals with spherical shape and bimodal in size of about 1 and 5 µm were obtained from the first method using conditions of 24 hr aging time, 170°C and 24 hr crystallization. Modernites with high crystallinity were formed using agitation system in the crystallization process. It was also found that the aging time of 2 hr and 24 hr did not much affect the formation of mordenite crystals. Analcime crystals were formed in spherical shape and facet on surface with the size between 13-15 µm by the second method using the conditions of 30 minutes aging time, 170°C and 24 hr crystallization without calcination. By increasing water content, the crystallization process was slowed down and resulted in smaller analcime crystals. Larger size of analcime crystals were observed when the samples were calcined at 300°C and 580°C. Higher calcination temperature led to higher crystal growth and resulted in larger crystal size. Finally, mordenite and analcime was used as fillers in zeolite/Nafion composite membrane to solve the fuel cross over problem in direct alcohol fuel cell.

Keywords: analcime, hydrothermal synthesis, mordenite, zeolite

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Authors: Ikechukwu Ndu

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This study examines the econometric modeling of the relation between discretionary accrual earnings management, International Financial Reporting Standards (IFRS), and certain corporate governance factors with regard to listed Nigerian non-financial firms. Although discretionary accrual earnings management is a well-known and global problem that has an adverse impact on users of the financial statements, its relationship with IFRS and corporate governance is neither adequately researched nor properly systematically investigated in Nigeria. The dearth of research in the relation between discretionary accrual earnings management, IFRS and corporate governance in Nigeria has made it difficult for academics, practitioners, government setting bodies, regulators and international bodies to achieve a clearer understanding of how discretionary accrual earnings management relates to IFRS and certain corporate governance characteristics. This is the first study to the author’s best knowledge to date that makes interesting research contributions that significantly add to the literature of discretionary accrual earnings management and its relation with corporate governance and IFRS pertaining to the Nigerian context. A comprehensive review is undertaken of the literature of discretionary total accrual earnings management, IFRS, and certain corporate governance characteristics as well as the data, models, methodologies, and different estimators used in the study. Secondary financial statement, IFRS, and corporate governance data are sourced from Bloomberg database and published financial statements of Nigerian non-financial firms for the period 2004 to 2016. The methodology uses both the total and working capital accrual basis. This study has a number of interesting preliminary findings. First, there is a negative relationship between the level of discretionary accrual earnings management and the adoption of IFRS. However, this relationship does not appear to be statistically significant. Second, there is a significant negative relationship between the size of the board of directors and discretionary accrual earnings management. Third, CEO Separation of roles does not constrain earnings management, indicating the need to preserve relationships, personal connections, and maintain bonded friendships between the CEO, Chairman, and executive directors. Fourth, there is a significant negative relationship between discretionary accrual earnings management and the use of a Big Four firm as an auditor. Fifth, including shareholders in the audit committee, leads to a reduction in discretionary accrual earnings management. Sixth, the debt and return on assets (ROA) variables are significant and positively related to discretionary accrual earnings management. Finally, the company size variable indicated by the log of assets is surprisingly not found to be statistically significant and indicates that all Nigerian companies irrespective of size engage in discretionary accrual management. In conclusion, this study provides key insights that enable a better understanding of the relationship between discretionary accrual earnings management, IFRS, and corporate governance in the Nigerian context. It is expected that the results of this study will be of interest to academics, practitioners, regulators, governments, international bodies and other parties involved in policy setting and economic development in areas of financial reporting, securities regulation, accounting harmonization, and corporate governance.

Keywords: discretionary accrual earnings management, earnings manipulation, IFRS, corporate governance

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Authors: P. B. Sob, A. A. Alugongo, T. B. Tengen

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The activation volume of 6082T6 aluminum is investigated at different temperatures on grain size variants. The deformation activation volume was computed on the basis of the relationship between the Boltzmann’s constant k, the testing temperatures, the material strain rate sensitivity and the material yield stress of grain size variants. The material strain rate sensitivity is computed as a function of yield stress and strain rate of grain size variants. The effect of the material strain rate sensitivity and the deformation activation volume of 6082T6 aluminum at different temperatures of 3-D grain are discussed. It is shown that the strain rate sensitivities and activation volume are negative for the grain size variants during the deformation of nanostructured materials. It is also observed that the activation volume vary in different ways with the equivalent radius, semi minor axis radius, semi major axis radius and major axis radius. From the obtained results it is shown that the variation of activation volume increased and decreased with the testing temperature. It was revealed that, increased in strain rate sensitivity led to decrease in activation volume whereas increased in activation volume led to decrease in strain rate sensitivity.

Keywords: nanostructured materials, grain size variants, temperature, yield stress, strain rate sensitivity, activation volume

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Authors: Carola Cappa

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Chickpea cooking water (known as aquafaba, AF) is a “waste” product having interesting technological properties exploitable for sustainable plant-based food applications that can encounter a larger consumers demand. Different process conditions to obtain AF were defined; the addition of hydrocolloid (i.e., guar gum) and lactic acid to improve the techno-functionalities of aquafaba was explored, and the effects of these ingredients on the foaming properties and the quality of plant-based target confectionery products were investigated. Meringues having a solid foam structure and a simple formulation (i.e., foaming agent and sugar) and chocolate mousse were chosen as target foods. The effects of the sugar particle size reduction on the empirical and fundamental rheological properties of the foaming agent and of the mousse were evaluated. The treatment did not significantly change the viscosity of the system, while the overrun and foam stability were affected by sugar particle size, and mousse with coarse sugar was characterized by a higher consistency, confirming the importance of the particle size of the ingredients on the texture of the final product. This study proved that AF, a recycled “waste” product, possesses interesting techno-functionalities properties further enhanced by adding lactic acid and modulable according to ingredient particle size; these AF results are useable for plant-based food applications.

Keywords: foaming properties, foam stability, foam texture, particle size, acidification, aquafaba

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Authors: Lopamudra D. Satpathy, Bani Chatterjee, Jitendra Mahakud

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The rapid economic growth in terms of output and investment necessitates a substantial growth of Total Factor Productivity (TFP) of firms which is an indicator of an economy’s technological change. The strong empirical relationship between financial sector development and economic growth clearly indicates that firms financing decisions do affect their levels of output via their investment decisions. Hence it establishes a linkage between the financial factors and productivity growth of the firms. To achieve the smooth and continuous economic growth over time, it is imperative to understand the financial channel that serves as one of the vital channels. The theoretical or logical argument behind this linkage is that when the internal financial capital is not sufficient enough for the investment, the firms always rely upon the external sources of finance. But due to the frictions and existence of information asymmetric behavior, it is always costlier for the firms to raise the external capital from the market, which in turn affect their investment sentiment and productivity. This kind of financial position of the firms puts heavy pressure on their productive activities. Keeping in view this theoretical background, the present study has tried to analyze the role of both external and internal financial factors (leverage, cash flow and liquidity) on the determination of total factor productivity of the firms of manufacturing industry and its sub-industries, maintaining a set of firm specific variables as control variables (size, age and disembodied technological intensity). An estimate of total factor productivity of the Indian manufacturing industry and sub-industries is computed using a semi-parametric approach, i.e., Levinsohn- Petrin method. It establishes the relationship between financial factors and productivity growth of 652 firms using a dynamic panel GMM method covering the time period between 1997-98 and 2012-13. From the econometric analyses, it has been found that the internal cash flow has a positive and significant impact on the productivity of overall manufacturing sector. The other financial factors like leverage and liquidity also play the significant role in the determination of total factor productivity of the Indian manufacturing sector. The significant role of internal cash flow on determination of firm-level productivity suggests that access to external finance is not available to Indian companies easily. Further, the negative impact of leverage on productivity could be due to the less developed bond market in India. These findings have certain implications for the policy makers to take various policy reforms to develop the external bond market and easily workout through which the financially constrained companies will be able to raise the financial capital in a cost-effective manner and would be able to influence their investments in the highly productive activities, which would help for the acceleration of economic growth.

Keywords: dynamic panel, financial factors, manufacturing sector, total factor productivity

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Authors: Kiurski S. Jelena, Oros B. Ivana, Kecić S. Vesna, Kovačević M. Ilija, Aksentijević M. Snežana

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The adsorption efficiency of various adsorbents for the removal of Zn(II) ions from the waste printing developer was studied in laboratory batch mode. The maximum adsorption efficiency of 94.1% was achieved with unfired clay pellets size (d≈15 mm). The obtained values of adsorption efficiency was subjected to the independent samples t-test in order to investigate the statistically significant differences of the investigated adsorbents for the effective removal of Zn(II) ions from the waste printing developer. The most statistically significant differences of adsorption efficiencies for Zn(II) ions removal were obtained between unfired clay pellets size (d≈15 mm) and activated carbon (|t|= 6.909), natural zeolite (|t|= 10.380), mixture of activated carbon and natural zeolite (|t|= 9.865), bentonite (|t|= 6.159), fired clay (|t|= 6.641), fired clay pellets size (d≈5 mm) (|t|= 6.678), fired clay pellets size (d≈8 mm) (|t|= 3.422), respectively.

Keywords: Adsorption efficiency, adsorbent, statistical analysis, zinc ion.

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Authors: Wided Khiari, Adel Karaa

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This study aims to establish a typology of Tunisian listed firms according to their corporate governance characteristics and disclosure quality. The paper uses disclosed scores to examine corporate governance practices of Tunisian listed firms. A content analysis of 46 Tunisian listed firms from 2001 to 2010 has been carried out and a disclosure index developed to determine the level of disclosure of the companies. The disclosure quality is appreciated through the quantity and also through the nature (type) of information disclosed. Applying the decision tree method, the obtained tree diagrams provide ways to know the characteristics of a particular firm regardless of its level of disclosure. Obtained results show that the characteristics of corporate governance to achieve good quality of disclosure are not unique for all firms. These structures are not necessarily all of the recommendations of best practices, but converge towards the best combination. Indeed, in practice, there are companies which have a good quality of disclosure, but are not well-governed. However, we hope that by improving their governance system their level of disclosure may be better. These findings show, in a general way, a convergence towards the standards of corporate governance with a few exceptions related to the specificity of Tunisian listed firms and show the need for the adoption of a code for each context. These findings shed the light on corporate governance features that enhance incentives for good disclosure. It allows identifying, for each firm and in any date, corporate governance determinants of disclosure quality. More specifically, and all being equal, obtained tree makes a rule of decision for the company to know the level of disclosure based on certain characteristics of the governance strategy adopted by the latter.

Keywords: corporate governance, disclosure, decision tree, economics

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Authors: Iin Mayasari

Abstract:

This study aims at exploring the influence of aspects of entrepreneurial marketing on a firm’s performance. Entrepreneurs are not only supported by resources control to obtain sustainable competitive advantage, but it should also be supported by intangible resources. Entrepreneurial marketing provides the opportunity for entrepreneurs to proactively find better ways to create value for desired customers, to create innovation, and to build customer equity. Entrepreneurial marketing has the medium between entrepreneurship and marketing, and serves as an umbrella for many of the emergent perspectives on marketing. It has eight underlying dimensions. They are proactiveness, calculated risk-taking, innovativeness, an opportunity focus, entrepreneurial orientation, resource leveraging, customer intensity, and value creating. The research method of the study was a qualitative study by having an interview with 8 small companies in Kudus Region, the Central Java, Indonesia. The interviewees were the owner and the manager of the company that had the scope work of small business enterprise in wood crafting industry. The interview was related to the implementation of the elements of the entrepreneurial marketing. The result showed that the small business enterprises had implemented the elements of entrepreneurial marketing in supporting their daily activities. The understanding based on the theoretical implementation was well executed by the owner and managers. The problems in managing small business enterprises were related to the full support by the government and the branding management. Furthermore, the innovation process should be improved especially the use of internet to promote the product, to expand the market and to increase the firm’s performance.

Keywords: entrepreneurial marketing, innovativeness, risk taking, opportunity focus

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Authors: Olaniyi Awe, Adelana R. Adetunji, Abraham Adeleke

Abstract:

Mining of alluvial gold ore by artisanal miners has been going on for decades at Itagunmodi, Southwestern Nigeria. In order to optimize the traditional panning gravity separation method commonly used in the area, a mineral particle size analysis study is critical. This study analyzed alluvial gold ore samples collected at identified five different locations in the area with a view to determine the ore particle size distributions. 500g measured of as-received alluvial gold ore sample was introduced into the uppermost sieve of an electrical sieve shaker consisting of sieves arranged in the order of decreasing nominal apertures of 5600μm, 3350μm, 2800μm, 355μm, 250μm, 125μm and 90μm, and operated for 20 minutes. The amount of material retained on each sieve was measured and tabulated for analysis. A screen analysis graph using the Gaudin Schuman method was drawn for each of the screen tests on the alluvial samples. The study showed that the percentages of fine particle size -125+90 μm fraction were 45.00%, 36.00%, 39.60%, 43.00% and 36.80% for the selected samples. These primary ore characteristic results provide reference data for the alluvial gold ore processing method selection, process performance measurement and optimization.

Keywords: alluvial gold ore, sieve shaker, particle size, Gaudin Schumann

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Authors: Samuel Ato Dadzie

Abstract:

The objective of this study is to examine the influence of eclectic paradigm on motivational strategy of foreign subsidiaries in Ghana. This study uses binary regression model, and the analysis was based on 75 manufacturing investments made by MNEs from different countries in 1994–2008. The results indicated that perceived market size increases the probability of foreign firms undertaking a market seeking (MS) in Ghana, while perceived cultural distance between Ghana and foreign firm’s home countries decreased the probability of foreign firms undertaking an market seeking (MS) foreign direct investment (FDI) in Ghana. Furthermore, extensive international experience decreases the probability of foreign firms undertaking a market seeking (MS) foreign direct investment (FDI) in Ghana. Most of the studies done by earlier researchers were based on the advanced and emerging countries and offered support for the theory, which was used in generalizing the result that multinational corporations (MNCs) normally used the theory regarding investment strategy outside their home country. In using the same theory in the context of Ghana, the result does not offer strong support for the theory. This means that MNCs that come to Sub-Sahara Africa cannot rely much on eclectic paradigm for their motivational strategies because prevailing economic conditions in Ghana are different from that of the advanced and emerging economies where the institutional structures work.

Keywords: foreign subsidiary, motives, Ghana, foreign direct investment

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Authors: R. S. Yadav, J. Havlica, I. Kuřitka, Z. Kozakova, J. Masilko, L. Kalina, M. Hajdúchová, V. Enev, J. Wasserbauer

Abstract:

In this work, copper ferrite CuFe2O4 spinel ferrite nanoparticles with different particle size at different annealing temperature were synthesized using the starch-assisted sol-gel auto-combustion method. The synthesized nanoparticles were characterized by conventional powder X-ray diffraction (XRD) spectroscopy, Raman Spectroscopy, Fourier Transform Infrared Spectroscopy, Field-Emission Scanning Electron Microscopy, X-ray Photoelectron Spectroscopy, and Vibrating Sample Magnetometer. The XRD patterns confirmed the formation of CuFe2O4 spinel ferrite nanoparticles. Field-Emission Scanning Electron Microscopy revealed that particles are of spherical morphology with particle size 5-20 nm at lower annealing temperature. An infrared spectroscopy study showed the presence of two principal absorption bands in the frequency range around 530 cm-1 (ν1) and around 360 cm-1 (ν2); which indicate the presence of tetrahedral and octahedral group complexes, respectively, within the spinel ferrite nanoparticles. Raman spectroscopy study also indicated the change in octahedral and tetrahedral site related Raman modes in copper ferrite nanoparticles with change of particle size. This change in magnetic behavior with change of particle size of CuFe2O4 nanoparticles was also observed. The change in magnetic properties with change of particle size is due to cation redistribution, which was confirmed by X-Ray photoelectron study.

Keywords: copper ferrite, nanoparticles, magnetic property, CuFe2O4

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Authors: R. S. Yadav, J. Havlica, I. Kuřitka, Z. Kozakova, J. Masilko, M. Hajdúchová, V. Enev, J. Wasserbauer

Abstract:

In this work, the effect of particle size on the structural and magnetic properties of CoFe2-xGdxO4 (x =0.1) spinel ferrite nanoparticles synthesized by starch-assisted sol-gel auto combustion method was investigated. The different sized CoFe2-xGdxO4 (x =0.1) spinel ferrite nanoparticles were achieved after annealing at different temperature 500, 700 and 900 oC. The structural phases, crystallite size and lattice parameter of synthesized ferrite nanoparticles were estimated from X-ray diffraction studies. The field emission scanning electron microscopy study demonstrated increase in particle size with increase of annealing temperature. Raman spectroscopy study indicated the change in octahedral and tetrahedral site related Raman modes in Gd3+ ions doped cobalt ferrite nanoparticles. An infrared spectroscopy study showed the presence of two absorption bands in the frequency range around 580 cm-1 (ν1) and around 340 cm-1 (ν2); which indicated the presence of tetrahedral and octahedral group complexes, respectively, within the spinel ferrite nanoparticles. Vibrating Sample magnetometer study showed that the saturation magnetization and coercivity changes with particle size of CoFe2-xGdxO4 (x =0.1) spinel ferrite.

Keywords: magnetic properties, spinel ferrite, nanoparticles, sol-gel synthesis

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Authors: Md Kamruzzaman, Lyazid Djenidi, R. A. Antonia

Abstract:

This paper reports an experimental investigation of the energy spectrum of turbulent velocity fields at low Reynolds numbers ( Rλ ) in grid turbulence. Hot wire measurements are carried out in grid turbulence with subjected to a 1.36:1 contraction of the wind tunnel. Three different grids are used: (i) large square perforated grid (mesh size 43.75 mm), (ii) small square perforated grid (mesh size 14 and (iii) woven mesh grid (mesh size 5mm). The results indicate that the energy spectrum at small Rλ does not follow Kolmogorov’s universal scaling. It is further found that the critical Reynolds number,Rλ,ϲ below which the scaling breaks down is around 25.

Keywords: energy spectrum, Taylor microscale, Reynolds number, turbulent kinetic energy, decay exponent

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Authors: Mohammad H. Almomani

Abstract:

In this paper, we argue the effect of the initial sample size, and the increment in simulation samples on the performance of a sequential approach that used in selecting the top m designs when the number of alternative designs is very large. The sequential approach consists of two stages. In the first stage the ordinal optimization is used to select a subset that overlaps with the set of actual best k% designs with high probability. Then in the second stage the optimal computing budget is used to select the top m designs from the selected subset. We apply the selection approach on a generic example under some parameter settings, with a different choice of initial sample size and the increment in simulation samples, to explore the impacts on the performance of this approach. The results show that the choice of initial sample size and the increment in simulation samples does affect the performance of a selection approach.

Keywords: Large Scale Problems, Optimal Computing Budget Allocation, ordinal optimization, simulation optimization

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