Search results for: trade in value added
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2862

Search results for: trade in value added

2352 The Trade Flow of Small Association Agreements When Rules of Origin Are Relaxed

Authors: Esmat Kamel

Abstract:

This paper aims to shed light on the extent to which the Agadir Association agreement has fostered inter regional trade between the E.U_26 and the Agadir_4 countries; once that we control for the evolution of Agadir agreement’s exports to the rest of the world. The next valid question will be regarding any remarkable variation in the spatial/sectoral structure of exports, and to what extent has it been induced by the Agadir agreement itself and precisely after the adoption of rules of origin and the PANEURO diagonal cumulative scheme? The paper’s empirical dataset covering a timeframe from [2000 -2009] was designed to account for sector specific export and intermediate flows and the bilateral structured gravity model was custom tailored to capture sector and regime specific rules of origin and the Poisson Pseudo Maximum Likelihood Estimator was used to calculate the gravity equation. The methodological approach of this work is considered to be a threefold one which starts first by conducting a ‘Hierarchal Cluster Analysis’ to classify final export flows showing a certain degree of linkage between each other. The analysis resulted in three main sectoral clusters of exports between Agadir_4 and E.U_26: cluster 1 for Petrochemical related sectors, cluster 2 durable goods and finally cluster 3 for heavy duty machinery and spare parts sectors. Second step continues by taking export flows resulting from the 3 clusters to be subject to treatment with diagonal Rules of origin through ‘The Double Differences Approach’, versus an equally comparable untreated control group. Third step is to verify results through a robustness check applied by ‘Propensity Score Matching’ to validate that the same sectoral final export and intermediate flows increased when rules of origin were relaxed. Through all the previous analysis, a remarkable and partial significance of the interaction term combining both treatment effects and time for the coefficients of 13 out of the 17 covered sectors turned out to be partially significant and it further asserted that treatment with diagonal rules of origin contributed in increasing Agadir’s_4 final and intermediate exports to the E.U._26 on average by 335% and in changing Agadir_4 exports structure and composition to the E.U._26 countries.

Keywords: agadir association agreement, structured gravity model, hierarchal cluster analysis, double differences estimation, propensity score matching, diagonal and relaxed rules of origin

Procedia PDF Downloads 319
2351 Role of Renewable Energy in Foreign Policy of China

Authors: Alina Gilmanova

Abstract:

China’s dependency on coal for energy is causing pollution in China and abroad. To supply the increasing energy demand and being under the pressure from international society to reduce the emissions, China was pushed to develop renewable energy. The increasing subsidies in Renewable energy sources (RES) led not only to the price-cutting but also affecting the international trade in green technology sector. In order to evaluate the role of RES in foreign policy of China, I am going to give an (i) overview of RES development in China and examine the cooperation between China and (ii) developed, (ii) developing and emerging countries. The conclusive remarks are intended to address the question of how the present Chinese renewable energy development is impacting its foreign policy and international society.

Keywords: renewable energy, China, foreign affairs, brics, cooperation

Procedia PDF Downloads 638
2350 Neo-Liberal Challenge - Apple in China

Authors: Mark McKeown

Abstract:

Press articles opining on how China has become the West’s biggest threat have become so common as to feel like old news. Since the United States shifted diplomatic recognition from Taiwan to the People’s Republic of China in 1979 the relationship between the world’s two largest economies has been at best a brittle one. This coiled tension has grown as trade between the two countries snaked ever upwards. As a byproduct of globalization Apple have focused much of their production and assembly in China. This has left the U.S. Big Tech company with several challenges. This paper focusses on the tightrope Apple now has to traverse. The majority of the data and analysis within this paper is sourced from my current ongoing PhD research on the influence of Big Tech lobbying on U.S. foreign policy. One of the main conclusions from this analysis is Apple has to adopt a carefully nuanced strategy of appeasement to avoid friction, with both the governments of China and the United States.

Keywords: apple, China, Taiwan, war

Procedia PDF Downloads 65
2349 The Way of the English Use of Businessmen for the ASEAN Economic Community in Chonburi Province

Authors: Kittivate Boonyopakorn

Abstract:

The purposes of this study were to investigate the method of the English use of the businessmen and to study their behavior of the utilization for the ASEAN economic community. The participants were divided into the three types of the merchants including the construction contractors, the construction material traders, and SME entrepreneurs. Survey questionnaires and interviews were used in this study. The findings showed that in the type of traders, 23 of the participants are construction contractors, 121 are construction material traders, and 206 are SME entrepreneurs. The study of English in language institute is highly 51.4%. The use of Google in translating English into Thai is 41.7%. Learning English themselves is 41.1% respectively. The businessmen study English for readiness for their trade.

Keywords: way of rnglish use, businessmen, ASEAN economic community, Chonburi province

Procedia PDF Downloads 241
2348 Integrated Safety Net Program for High-Risk Families in New Taipei City

Authors: Peifang Hsieh

Abstract:

New Taipei city faces increasing number of migrant families, in which the needs of children are sometimes neglected due to insufficient support from communities. Moreover, the traditional mindset of disengagement discourages citizens from preemptively identifying families in need in their communities, resulting in delay of prompt intervention from authorities concerned. To safeguard these vulnerable families, New Taipei city develops the 'Integrated Safety-Net Program for High-Risk Families' from 2011 by implementing the following measures: (A) New attitude and action: Instead of passively receiving reported case of high-risk families, the program takes proactive and preemptive approach to detect and respond at early stage, so the cases are prevented from worsening. In addition, cross-departmental integration mechanism is established to meet multiple needs of high-risk families. The children number added to the government care network is greatly increased to over 10,000, which is around 4.4 times the original number before the program. (B) New service points: 2000 city-wide convenience stores are added as service stations so that children in less privileged families can go to any of 24-hour convenience stores across the city to pick up free meals. This greatly increases the approachability to high-risk families. Moreover, the social welfare institutes will be notified with information left in convenience stores by children and follow up with further assistance, greatly enhancing chances of less privileged families being identified. (C) New Key Figures: Mobilize community officers and volunteers to detect and offer on-site assistance. Volunteer organizations within communities are connected to report and offer follow-up services in a more active manner. In total, from 2011 to 2015, 54,789 cases are identified through active care, benefiting 82,124 children. In addition, 87.49% family-cases in the program receiving comprehensive social assistance are no longer at high risk.

Keywords: cross department, high-risk families, public-private partnership, integrated safety net

Procedia PDF Downloads 299
2347 Effects of Spirulina Platensis Powder on Nutrition Value, Sensory and Physical Properties of Four Different Food Products

Authors: Yazdan Moradi

Abstract:

Spirulina platensis is a blue-green microalga with unique nutrient content and has many nutritional and therapeutic effects that are used to enrich various foods. The purpose of this research was to investigate the effect of Spirulina platensis microalgae on the nutritional value and sensory and physical properties of four different cereal-based products. For this purpose, spirulina microalgae dry powder with amounts of 0.25, 0.5, 0.75, and 1 is added to the formula of pasta, bulk bread, layered sweets, and cupcakes. A sample without microalgae powder of each product is also considered as a control. The results showed that adding Spirulina powder to the formulation of selected foods significantly changed the nutrition value and sensory and physical characteristics. Comparison to control protein increased in the samples containing spirulina powder. The increase in protein was about 1, 0.6, 1.2 and 1.1 percent in bread, cake, layered sweets and Pasta, respectively. The iron content of samples, including Spirulina, also increased. The increase was 0.6, 2, 5 and 18 percent in bread, cake, layered sweets and Pasta respectively. Sensory evaluation analysis showed that all products had an acceptable acceptance score. The instrumental analysis of L*, a*, and b* color indices showed that the increase of spirulina caused green color in the treatments, and this color change is more significant in the bread and pasta samples. The results of texture analysis showed that adding spirulina to selected food products reduces the hardness of the samples. No significant differences were observed in fat content in samples, including spirulina samples and control. However, fatty acid content and a trace amount of EPA found in samples included 1% spirulina. Added spirulina powder to food ingredients also changed the amino acid profile, especially essential amino acids. An increase of histidine, isoleucine, leucine, tryptophan, and valine in samples, including Spirulina was observed.

Keywords: spirulina, nutrition, Alge, iron, food

Procedia PDF Downloads 34
2346 Comparative Study on the Thickening/Viscosity of Ogbono Seed Powder from Irvingia gabonenesis and Irvingia wombolu Species

Authors: Orlando Ketebu

Abstract:

Ogbono seed is the seed obtained from African bush mango (Irvingia gabonenesis) and bitter bush mango (Irvingia wombolu). Irvingia gabonenesis is known for its sweet edible pulp while Irvingia wombolu has a bitter pulp. Their seed powder is used in cooking soup known as ogbono soup in Nigeria and in West Africa. The powder thickens when cooked and researches have shown that it has medicinal uses such as lowering cholesterol; aiding weight loss and helps in improving diabetes control. The nutritional composition of the seeds indicated that Irvingia gabonenesis contains 8.60% protein, 13.8% carbohydrate, 2.0% moisture, 1.5% crude fiber, 16.4% ash, and Irvingia wombolu contains 7.38% protein, 25.75% carbohydrate, 11.7% moisture, 0.84% crude fiber, 2.50% ash. Solvent extraction of these seeds has shown that the seed of the two species are oil seeds with approximately 70 % and 52 % for Irvingia gabonenesis and Irvingia wombolu respectively. One major setback using ogbono seed powder in cooking soup is identifying the specie of ogbono seed powder that thickens most within the same cooking condition and how temperature affects the thickness of ogbono seed powder which determines its viscosity and in turn affects the quality of the soup and its nutrients. This research work monitored how the viscosity of ogbono species after being sun dried for one week changes with temperature. The result showed that heating 20 grams of powdered Irvingia gabonenesis and Irvingia wombolu at 30 OC, 45 OC, 55 OC, 65 OC, 75 OC, 85 OC and 95OC respectively in 200 ml beaker mixed with 100 ml of water, the viscosity of both species decreases with increase temperature with Irvingia wombolu having higher average viscosity in Pascal seconds (Pa.s) of 1.059, 1.042, 0.961, 0.778, 0.684, 0.675, and 0.495 at 30 OC, 45 OC, 55 OC, 65 OC, 75 OC, 85 OC and 95 OC respectively compared to Irvingia gabonenesis with result 0.982, 0.920, 0.720, 0.646, 0.597 and 0.446 at 30 OC, 45 OC, 55 OC, 65 OC, 75 OC, 85 OC and 95 OC respectively. Also from the experiment carried out it was found out that the viscosity of both species decreases with ageing of the seeds and the quantity of ogbono seed powder used and amount of water added also affected the viscosity of both species. In conclusion, it was observed that under the same cooking conditions (temperature range, quantity of water added, time and quantity of ogbono seed powder used), Irvingia wombolu had higher viscosity which is a measure of its thickness and quality of nutrients compared to Irvingia gabonenesis and the viscosity of both species decreases with increasing temperature.

Keywords: ogbono seed powder, temperature, viscosity , soup

Procedia PDF Downloads 189
2345 Biofungicides in Nursery Production

Authors: Miroslava Markovic, Snezana Rajkovic, Ljubinko Rakonjac, Aleksandar Lucic

Abstract:

Oak powdery mildew is a serious problem on seedlings in nurseries as well as on naturally and artificially introduced progeny. The experiments were set on oak seedlings in two nurseries located in Central Serbia, where control of oak powdery mildew Microsphaera alphitoides Griff. et Maubl. had been conducted through alternative protection measures by means of various dosages of AQ-10 biofungicide, with and without added polymer (which has so far never been used in this country for control of oak powdery mildew). Simultaneous testing was conducted on the efficiency of a chemical sulphur-based preparation (used in this area for many years as a measure of suppression of powdery mildews, without the possibility of developing resistance of the pathogen to the active matter). To date, the Republic of Serbia has registered no fungicides for suppression of pathogens in the forest ecosystems. In order to introduce proper use of new disease-fighting agents into a country, certain relevant principles, requirements and criteria prescribed by the Forest Stewardship Council (FSC) must be observed, primarily with respect to measures of assessment and mitigation of risks, the list of dangerous and highly dangerous pesticides with the possibility of alternative protection. One of the main goals of the research was adjustment of the protective measures to the FSC policy through selection of eco-toxicologically favourable fungicides, given the fact that only preparations named on the list of permitted active matters are approved for use in certified forests. The results of the research have demonstrated that AQ-10 biofungicide can be used as a part of integrated disease management programmes as an alternative, through application of several treatments during vegetation and combination with other active matters registered for these purposes, so as to curtail the use of standard fungicides for control of powdery mildews on oak seedlings in nurseries. The best results in suppression of oak powdery mildew were attained through use of AQ-10 biofungicide (dose 50 or 70g/ha) with added polymer Nu Film-17 (dose 1.0 or 1.5 l/ha). If the treatment is applied at the appropriate time, even fewer number of treatments and smaller doses will be just as efficient.

Keywords: oak powdery mildew, biofungicides, polymers, Microsphaera alphitoides

Procedia PDF Downloads 375
2344 Sliding Mode Controlled Quadratic Boost Converter

Authors: Viji Vijayakumar, R. Divya, A. Vivek

Abstract:

This paper deals with a quadratic boost converter which belongs to cascade boost family, controlled by sliding mode controller. In the cascade boost family, quadratic boost converter is the best trade-off when circuit complexity and modulator saturation is considered. Sliding mode control being a nonlinear control results in a robust and stable system when applied to switching converters which are inherently variable structured systems. The stability of this system is analyzed through Lyapunov’s approach. Analysis is done for load regulation, line regulation and step response of the system. Also these results are compared with that of PID controller based system.

Keywords: DC-DC converter, quadratic boost converter, sliding mode control, PID control

Procedia PDF Downloads 993
2343 Analytic Hierarchy Process

Authors: Hadia Rafi

Abstract:

To make any decision in any work/task/project it involves many factors that needed to be looked. The analytic Hierarchy process (AHP) is based on the judgments of experts to derive the required results this technique measures the intangibles and then by the help of judgment and software analysis the comparisons are made which shows how much a certain element/unit leads another. AHP includes how an inconsistent judgment should be made consistent and how the judgment should be improved when possible. The Priority scales are obtained by multiplying them with the priority of their parent node and after that they are added.

Keywords: AHP, priority scales, parent node, software analysis

Procedia PDF Downloads 406
2342 Mechanical Properties and Characterization of Ti–6Al–4V Alloy Diffused by Molybdenum

Authors: Alaeddine Kaouka

Abstract:

The properties and characterization of Ti-6Al-4V alloys with different contents of Mo were investigated. Microstructure characterization and hardness are considered. The alloy structure was characterized by X-ray diffraction, SEM and optical microscopy. The results showed that the addition of Mo stabilized the β-phase in the treated solution condition. The Mo element added to titanium alloys changes the lattice parameters of phases. Microstructural observations indicate an obvious reduction in the prior grain size. The hardness has increased with the increase in β-phase stability, while Young’s modulus and ductility have decreased.

Keywords: characterization, mechanical properties, molybdenum, titanium alloy

Procedia PDF Downloads 260
2341 Effect of Halo Protection Device on the Aerodynamic Performance of Formula Racecar

Authors: Mark Lin, Periklis Papadopoulos

Abstract:

This paper explores the aerodynamics of the formula racecar when a ‘halo’ driver-protection device is added to the chassis. The halo protection device was introduced at the start of the 2018 racing season as a safety measure against foreign object impacts that a driver may encounter when driving an open-wheel racecar. In the one-year since its introduction, the device has received wide acclaim for protecting the driver on two separate occasions. The benefit of such a safety device certainly cannot be disputed. However, by adding the halo device to a car, it changes the airflow around the vehicle, and most notably, to the engine air-intake and the rear wing. These negative effects in the air supply to the engine, and equally to the downforce created by the rear wing are studied in this paper using numerical technique, and the resulting CFD outputs are presented and discussed. Comparing racecar design prior to and after the introduction of the halo device, it is shown that the design of the air intake and the rear wing has not followed suit since the addition of the halo device. The reduction of engine intake mass flow due to the halo device is computed and presented for various speeds the car may be going. Because of the location of the halo device in relation to the air intake, airflow is directed away from the engine, making the engine perform less than optimal. The reduction is quantified in this paper to show the correspondence to reduce the engine output when compared to a similar car without the halo device. This paper shows that through aerodynamic arguments, the engine in a halo car will not receive unobstructed, clean airflow that a non-halo car does. Another negative effect is on the downforce created by the rear wing. Because the amount of downforce created by the rear wing is influenced by every component that comes before it, when a halo device is added upstream to the rear wing, airflow is obstructed, and less is available for making downforce. This reduction in downforce is especially dramatic as the speed is increased. This paper presents a graph of downforce over a range of speeds for a car with and without the halo device. Acknowledging that although driver safety is paramount, the negative effect of this safety device on the performance of the car should still be well understood so that any possible redesign to mitigate these negative effects can be taken into account in next year’s rules regulation.

Keywords: automotive aerodynamics, halo device, downforce. engine intake

Procedia PDF Downloads 110
2340 Synthesis and Study the Effect of HNTs on PVA/Chitosan Composite Material

Authors: Malek Ali

Abstract:

Composites materials of Poly (vinyl alcohol) (PVA)/Chitosan (CS) have been synthesized and characterized successfully. HNTs have been added to composites to enhance the mechanical and degradation properties by hydrogen bonding interactions, compatibility, and chemical crosslink between HNTs and PVA. PVA/CS/HNTs composites prepared with different concentration ratio. SEM micrographs of composites surface showed that more agglomeration with more chitosan ratio. Mechanical and degradation properties were characterized and the result indicates that Mechanical and degradation of 80%PVA/5%Chitosan/15%HNTs higher than the others PVA/CS/HNTs composites.

Keywords: PVA/chitosan, composites, PVA/CS/HNTs, HNTs

Procedia PDF Downloads 292
2339 To Handle Data-Driven Software Development Projects Effectively

Authors: Shahnewaz Khan

Abstract:

Machine learning (ML) techniques are often used in projects for creating data-driven applications. These tasks typically demand additional research and analysis. The proper technique and strategy must be chosen to ensure the success of data-driven projects. Otherwise, even exerting a lot of effort, the necessary development might not always be possible. In this post, an effort to examine the workflow of data-driven software development projects and its implementation process in order to describe how to manage a project successfully. Which will assist in minimizing the added workload.

Keywords: data, data-driven projects, data science, NLP, software project

Procedia PDF Downloads 83
2338 A Descriptive Study on Syrian Entrepreneurs in Turkey

Authors: Rudainah Alkhazam, Özlem Yaşar Uğurlu

Abstract:

Immigrant entrepreneurship arises from the start of entrepreneurial activity by immigrants in the country they relocate to. The future prosperity and stability of the refugee-hosting countries depends on the mutual social and economic benefits between the residents and the refugees. Syrian refugees and workers in host countries necessitate efforts to assist their residents and refugees in meeting their daily needs, contributing lawfully to local and possibly regional economies through trade, and instilling hope in their future. This study investigates the effects of Syrian refugee entrepreneurs on host communities' business sectors, focusing on Turkey. Specifically, we examine entrepreneurship in general and its role in the country's economy. Because Turkey is the most popular resettlement destination for Syrian refugees, this study will shed light on the challenges of successful migrant entrepreneurship in Turkey and their role in the business sector. The research relies on a mixed-method approach which helps identify recurring themes, favorable results, and conflicting results across methods, allowing us to draw accurate conclusions. The study will adopt a quantitative method in collecting numerical data from Syrian refugees in Turkey. The self-administered survey would be translated into Arabic to ensure that the respondents understood the questions and possible replies. The research will use survey questionnaires to gather the majority of the data. These surveys would have closed-ended questions with nominal ratio and Likert scales. The data will be analyzed using linear regression and the Statistical Package for Social Sciences (SPSS) to ascertain the role of Syrian entrepreneurs in the business sectors of Turkey. The research will use the findings to make future recommendations. Syrian entrepreneurs, among the migrant entrepreneurs, contribute to the labor market, the majority of whom are young people. This research noted the significant participation of Syrian immigrant women in the entrepreneurship sector. The previous experience of Syrians in the field of trade and running their own business plays a vital role in the success of their business in the host countries. The study shows that Syrian entrepreneurs could integrate effectively into the various Turkish business sectors and could rely on themselves, open and manage their projects, and market them in the Turkish market. Syrian entrepreneurs consider that the investment and labor laws, commercial arrangements, and facilities for obtaining financial resources in Turkey need to be more flexible and available to immigrant entrepreneurs.

Keywords: entrepreneurship, immigration, Syrian, Turkey, refugees, investors, socio-economic benefits, unemployment

Procedia PDF Downloads 65
2337 Effect of Mineral Additives on Improving the Geotechnical Properties of Soils in Chlef

Authors: Messaoudi Mohammed Amin

Abstract:

The reduction of available land resources and the increased cout associated with the use of hight quality materials have led to the need for local soils to be used in geotecgnical construction however, poor engineering properties of these soils pose difficulties for constructions project and need to be stabilized to improve their properties in oyher works unsuitable soils with low bearing capacity, high plasticity coupled with high insatbility are frequently encountered hense, there is a need to improve the physical and mechanical charateristics of these soils to make theme more suitable for construction this can be done by using different mechanical and chemical methods clayey soil stabilization has been practiced for quite sometime bu mixing additives, such us cement, lime and fly ash to the soil to increase its strength. The aim of this project is to study the effect of using lime, natural pozzolana or combination of both on the geotecgnical cherateristics of clayey soil. Test specimen were subjected to atterberg limits test, compaction test, box shear test and uncomfined compression test Lime or natural pozzolana was added to clayey soil at rangs of 0-8% and 0-20% respectively. In addition combinations of lime –natural pozzolana were added to clayey soil at the same ranges specimen were cured for 1-7, and 28 days after which they were tested for uncofined compression tests. Based on the experimental results, it was concluded that an important decrease of plasticity index was observed for thr samples stabilized with the combinition lime-natural pozzolana in addition, the use of the combination lime-natural pozzolana modifies the clayey soil classification according to casagrand plasiticity chart. Moreover, based on the favourable results of shear and compression strength obtained, it can be concluded that clayey soil can be successfuly stabilized by combined action of lime and natural pozzolana also this combination showed an appreciable improvement of the shear parameters. Finally, since natural pozzolana is much cheaper than lime ,the addition of natural pozzolana in lime soil mix may particulary become attractive and can result in cost reduction of construction.

Keywords: clay, soil stabilization, natural pozzolana, atterberg limits, compaction, compressive strength shear strength, curing

Procedia PDF Downloads 301
2336 Studying the Simultaneous Effect of Petroleum and DDT Pollution on the Geotechnical Characteristics of Sands

Authors: Sara Seyfi

Abstract:

DDT and petroleum contamination in coastal sand alters the physical and mechanical properties of contaminated soils. This article aims to understand the effects of DDT pollution on the geotechnical characteristics of sand groups, including sand, silty sand, and clay sand. First, the studies conducted on the topic of the article will be reviewed. In the initial stage of the tests, this article deals with the identification of the used sands (sand, silty sand, clay sand) by FTIR, µ-XRF and SEM methods. Then, the geotechnical characteristics of these sand groups, including density, permeability, shear strength, compaction, and plasticity, are investigated using a sand cone, head permeability test, Vane shear test, strain gauge penetrometer, and plastic limit test. Sand groups are artificially contaminated with petroleum substances with 1, 2, 4, 8, 10, 12% by weight. In a separate experiment, amounts of 2, 4, 8, 12, 16, 20 mg/liter of DDT were added to the sand groups. Geotechnical characteristics and identification analysis are performed on the contaminated samples. In the final tests, the mentioned amounts of oil pollution and DDT are simultaneously added to the sand groups, and identification and measurement processes are carried out. The results of the tests showed that petroleum contamination had reduced the optimal moisture content, permeability, and plasticity of all samples. Except silty sand’s plasticity, which petroleum increased it by 1-4% and decreased it by 8-12%. The dry density of sand and clay sand increased, but that of silty sand decreased. Also, the shear strength of sand and silty sand increased, but that of clay sand decreased. DDT contamination increased the maximum dry density and decreased the permeability of all samples. It also reduced the optimum moisture content of the sand. The shear resistance of silty sand and clayey sand decreased, and plasticity of clayey sand increased, and silty sand decreased. The simultaneous effect of petroleum and DDT pollution on the maximum dry density of sand and clayey sand has been synergistic, on the plasticity of clayey sand and silty sand, there has been antagonism. This process has caused antagonism of optimal sand content, shear strength of silty sand and clay sand. In other cases, the effect of synergy or antagonism is not observed.

Keywords: DDT contamination, geotechnical characteristics, petroleum contamination, sand

Procedia PDF Downloads 48
2335 Stochastic Pi Calculus in Financial Markets: An Alternate Approach to High Frequency Trading

Authors: Jerome Joshi

Abstract:

The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

Procedia PDF Downloads 77
2334 Signal On-Off Ratio and Output Frequency Analysis of Semiconductor Electron-Interference Device

Authors: Tomotaka Aoki, Isao Tomita

Abstract:

We examined the on-off ratio and frequency components of output signals from an electron-interference device made of GaAs/AlₓGa₁₋ₓAs by solving the time-dependent Schrödinger's equation on conducting electrons in the channel waveguide of the device. For electron-wave modulation, a periodic voltage of frequency f was applied to the channel. Furthermore, we examined the voltage-amplitude dependence of the signals in time and frequency domains and found that large applied voltage deformed the output-signal waveform and created additional side modes (frequencies) near the modulation frequency f and that there was a trade-off between on-off ratio and side-mode creation.

Keywords: electrical conduction, electron interference, frequency spectrum, on-off ratio

Procedia PDF Downloads 121
2333 Analysis of Supply Chain Risk Management Strategies: Case Study of Supply Chain Disruptions

Authors: Marcelo Dias Carvalho, Leticia Ishikawa

Abstract:

Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: just in time, lean manufacturing, supply chain disruptions, supply chain management

Procedia PDF Downloads 338
2332 Cellulose Extraction from Pomelo Peel: Synthesis of Carboxymethyl Cellulose

Authors: Jitlada Chumee, Drenpen Seeburin

Abstract:

The cellulose was extracted from pomelo peel and an etherification reaction used for converting cellulose to carboxymethyl cellulose (CMC). The pomelo peel was refluxed with 0.5 M HCl and 1 M NaOH solution at 90°C for 1 h and 2 h, respectively. The cellulose was bleached with calcium hypochlorite and used as precursor. The precursor was soaked in mixed solution between isopropyl alcohol and 40%w/v NaOH for 12 h. After that, chloroacetic acid was added and reacted at 55°C for 6 h. The optimum condition was 5 g of cellulose: 0.25 mole of NaOH : 0.07 mole of ClCH2COOH with 78.00% of yield. Moreover, the product had 0.54 of degree of substitution (DS).

Keywords: pomelo peel, carboxymethyl cellulose, bioplastic, extraction

Procedia PDF Downloads 316
2331 A Review on Trends in Measurement of Port Performance

Authors: J. Racedo, J. Torres

Abstract:

Globalization has led to a worldwide competition for participation in markets of goods and productive factors, with significant effects on transports requirements. The port industry has not been an exception to this event, in fact, it has received increasing attention in recent years due to its crucial role on international trade. Because of this, the measurement of port performance has become an important issue in transport policy. Port performance and port efficiency has been widely studied in the last decades, resulting in noteworthy contributions to improving the industry competitiveness. In this paper, we aim to present a review of the literature on port performance and the relation between this concept and transport policies. This study has the objective to describe the approaches that have been developed in recent years, and especially those that include the modeling of public policies. Finally, we highlight existing gaps in this field, as well as possible directions for future research.

Keywords: port performance, port efficiency, transport, policy

Procedia PDF Downloads 329
2330 Using Serious Games to Integrate the Potential of Mass Customization into the Fuzzy Front-End of New Product Development

Authors: Michael N. O'Sullivan, Con Sheahan

Abstract:

Mass customization is the idea of offering custom products or services to satisfy the needs of each individual customer while maintaining the efficiency of mass production. Technologies like 3D printing and artificial intelligence have many start-ups hoping to capitalize on this dream of creating personalized products at an affordable price, and well established companies scrambling to innovate and maintain their market share. However, the majority of them are failing as they struggle to understand one key question – where does customization make sense? Customization and personalization only make sense where the value of the perceived benefit outweighs the cost to implement it. In other words, will people pay for it? Looking at the Kano Model makes it clear that it depends on the product. In products where customization is an inherent need, like prosthetics, mass customization technologies can be highly beneficial. However, for products that already sell as a standard, like headphones, offering customization is likely only an added bonus, and so the product development team must figure out if the customers’ perception of the added value of this feature will outweigh its premium price tag. This can be done through the use of a ‘serious game,’ whereby potential customers are given a limited budget to collaboratively buy and bid on potential features of the product before it is developed. If the group choose to buy customization over other features, then the product development team should implement it into their design. If not, the team should prioritize the features on which the customers have spent their budget. The level of customization purchased can also be translated to an appropriate production method, for example, the most expensive type of customization would likely be free-form design and could be achieved through digital fabrication, while a lower level could be achieved through short batch production. Twenty-five teams of final year students from design, engineering, construction and technology tested this methodology when bringing a product from concept through to production specification, and found that it allowed them to confidently decide what level of customization, if any, would be worth offering for their product, and what would be the best method of producing it. They also found that the discussion and negotiations between players during the game led to invaluable insights, and often decided to play a second game where they offered customers the option to buy the various customization ideas that had been discussed during the first game.

Keywords: Kano model, mass customization, new product development, serious game

Procedia PDF Downloads 134
2329 Algae for Wastewater Treatment and CO₂ Sequestration along with Recovery of Bio-Oil and Value Added Products

Authors: P. Kiran Kumar, S. Vijaya Krishna, Kavita Verma1, V. Himabindu

Abstract:

Concern about global warming and energy security has led to increased biomass utilization as an alternative feedstock to fossil fuels. Biomass is a promising feedstock since it is abundant and cheap and can be transformed into fuels and chemical products. Microalgae biofuels are likely to have a much lower impact on the environment. Microalgae cultivation using sewage with industrial flue gases is a promising concept for integrated biodiesel production, CO₂ sequestration, and nutrients recovery. Autotrophic, Mixotrophic, and Heterotrophic are the three modes of cultivation for microalgae biomass. Several mechanical and chemical processes are available for the extraction of lipids/oily components from microalgae biomass. In organic solvent extraction methods, a prior drying of biomass and recovery of the solvent is required, which are energy-intensive. Thus, the hydrothermal process overcomes the drawbacks of conventional solvent extraction methods. In the hydrothermal process, the biomass is converted into oily components by processing in a hot, pressurized water environment. In this process, in addition to the lipid fraction of microalgae, other value-added products such as proteins, carbohydrates, and nutrients can also be recovered. In the present study was (Scenedesmus quadricauda) was isolated and cultivated in autotrophic, heterotrophic, and mixotrophically using sewage wastewater and industrial flue gas in batch and continuous mode. The harvested algae biomass from S. quadricauda was used for the recovery of lipids and bio-oil. The lipids were extracted from the algal biomass using sonication as a cell disruption method followed by solvent (Hexane) extraction, and the lipid yield obtained was 8.3 wt% with Palmitic acid, Oleic acid, and Octadeonoic acid as fatty acids. The hydrothermal process was also carried out for extraction of bio-oil, and the yield obtained was 18wt%. The bio-oil compounds such as nitrogenous compounds, organic acids, and esters, phenolics, hydrocarbons, and alkanes were obtained by the hydrothermal process of algal biomass. Nutrients such as NO₃⁻ (68%) and PO₄⁻ (15%) were also recovered along with bio-oil in the hydrothermal process.

Keywords: flue gas, hydrothermal process, microalgae, sewage wastewater, sonication

Procedia PDF Downloads 140
2328 The Moderation Effect of Financial Distress on the Relationship Between Market Power and Earnings Management of Firms

Authors: Shazia Ali, Yves Mard, Éric Severin

Abstract:

To the best of our knowledge, this is the first study to have analyzed the impact of a) firm-specific product-market power and b) industry competition on earnings management behavior of European firms in distress versus healthy years while controlling for firm-level characteristics. We predicted a significant relationship between firms’ product market power and earnings management tools and their trade-off under the moderation effect of financial distress. We found that the firm-level market power hereinafter referred to as MP (proxied by the industry-adjusted Lerner Index) is positively associated with both real and accrual earnings management. However, MP is associated with a higher level of real earnings management compared to accrual earnings management in distress years compared to healthy years. On the other hand, industry product market power (representing low competition and proxied by the inverse of the total number of firms in an industry hereinafter referred to as NUMB) and firms product market power (proxied by firm market share hereinafter referred to as MS) are associated with lower inflationary accruals and higher deflationary accruals respectively. On the other hand, they are found to be linked with higher real earnings management in distress versus healthy years. When we divided the sample into small and big firms based on their respective industry-year median total assets, we found that all three measures of industry competition (Industry Median Lerner Index (hereinafter referred to as IMLI), NUMB, and Herfindahl–Hirschman Index (hereinafter referred to as HHI) indicate that small firms in low-competitive industries in financial distress are more likely to inflate their earnings through discretionary accruals. While big firms in this situation are more likely to lower the use of both inflationary and deflationary discretionary accruals as indicated by IMLI and HHI and trade-off accruals earnings management for real earnings management as indicated by NUMB. Moreover, IMLI and HHI did not show any interesting results when we divided the sample based on the firm Lerner Index/Market Power. However, the distressed firms with high market power (MP>industry median) are found to engage in income-decreasing discretionary accruals in low-competitive industries (high NUMB). Whereas firms with low market power in the same industry use downward discretionary accruals but inflate income using real activities (abnCFO). Our findings are robust across alternate measures of discretionary accruals and financial distress, such as the Altman Z-Score. The finding of the study is valuable for accounting standard setters, competition authorities, policymakers, and investors alike to help in informed decision-making.

Keywords: financial distress, earnings management, market competition

Procedia PDF Downloads 121
2327 Phycoremiadation of Heavy Metals by Marine Macroalgae Collected from Olaikuda, Rameswaram, Southeast Coast of India

Authors: Suparna Roy, Anatharaman Perumal

Abstract:

The industrial effluent with high amount of heavy metals is known to have adverse effects on the environment. For the removal of heavy metals from aqueous environment, different conventional treatment technologies had been applied gradually which are not economically beneficial and also produce huge quantity of toxic chemical sludge. So, bio-sorption of heavy metals by marine plant is an eco-friendly innovative and alternative technology for removal of these pollutants from aqueous environment. The aim of this study is to evaluate the capacity of heavy metals accumulation and removal by some selected marine macroalgae (seaweeds) from marine environment. Methods: Seaweeds Acanthophora spicifera (Vahl.) Boergesen, Codium tomentosum Stackhouse, Halimeda gracilis Harvey ex. J. Agardh, Gracilaria opuntia Durairatnam.nom. inval. Valoniopsis pachynema (Martens) Boergesen, Caulerpa racemosa var. macrophysa (Sonder ex Kutzing) W. R. Taylor and Hydroclathrus clathratus (C. Agardh) Howe were collected from Olaikuda (09°17.526'N-079°19.662'E), Rameshwaram, south east coast of India during post monsoon period (April’2016). Seaweeds were washed with sterilized and filtered in-situ seawater repeatedly to remove all the epiphytes and debris and clean seaweeds were kept for shade drying for one week. The dried seaweeds were grinded to powder, and one gm powder seaweeds were taken in a 250ml conical flask, and 8 ml of 10 % HNO3 (70 % pure) was added to each sample and kept in room temperature (28 ̊C) for 24 hours and then samples were heated in hotplate at 120 ̊C, boiled to evaporate up to dryness and 20 ml of Nitric acid: Percholoric acid in 4:1 were added to it and again heated to hotplate at 90 ̊C up to evaporate to dryness, then samples were kept in room temperature for few minutes to cool and 10ml 10 % HNO3 were added to it and kept for 24 hours in cool and dark place and filtered with Whatman (589/2) filter paper and the filtrates were collected in 250ml clean conical flask and diluted accurately to 25 ml volume with double deionised water and triplicate of each sample were analysed with Inductively-Coupled plasma analysis (ICP-OES) to analyse total eleven heavy metals (Ag, Cd, B, Cu, Mn, Co, Ni, Cr, Pb, Zn, and Al content of the specified species and data were statistically evaluated for standard deviation. Results: Acanthophora spicifera contains highest amount of Ag (0.1± 0.2 mg/mg) followed by Cu (0.16±0.01 mg/mg), Mn (1.86±0.02 mg/mg), B (3.59±0.2 mg/mg), Halimeda gracilis showed highest accumulation of Al (384.75±0.12mg/mg), Valoniopsis pachynema accumulates maximum amount of Co (0.12±0.01 mg/mg), Zn (0.64±0.02 mg/mg), Caulerpa racemosa var. macrophysa contains Zn (0.63±0.01), Cr (0.26±0.01 mg/mg ), Ni (0.21±0.05), Pb (0.16±0.03 ) and Cd ( 0.02±00 ). Hydroclathrus clathratus, Codium tomentosum and Gracilaria opuntia also contain adequate amount of heavy metals. Conclusions: The mentioned species of seaweeds are contributing important role for decreasing the heavy metals pollution in marine environment by bioaccumulation. So, we can utilise this species to remove excess amount of heavy metals from polluted area.

Keywords: heavy metals pollution, seaweeds, bioaccumulation, eco-friendly, phyco-remediation

Procedia PDF Downloads 235
2326 The Recognition of Exclusive Choice of Court Agreements: United Arab Emirates Perspective and the 2005 Hague Convention on Choice of Court Agreements

Authors: Hasan Alrashid

Abstract:

The 2005 Hague Convention seeks to ensure legal certainty and predictability between parties in international business transactions. It harmonies exclusive choice of court agreements at the international level between parties to commercial transactions and to govern the recognition and enforcement of judgments resulting from proceedings based on such agreements to promote international trade and investment. Although the choice of court agreements is significant in international business transactions, the United Arab Emirates refuse to recognise it by Article 24 of the Federal Law No. 11 of 1992 of the Civil Procedure Code. A review of judicial judgments in United Arab Emirates up to the present day has revealed that several cases appeared before the Court in different states of United Arab Emirates regarding the recognition of exclusive choice of court agreements. In all the cases, the courts regarded the exclusive choice of court agreements as a direct assault on state authority and sovereignty and refused categorically to recognize choice of court agreements by refusing to stay proceedings in favor of the foreign chosen court. This has created uncertainty and unpredictability in international business transaction in the United Arab Emirates. In June 2011, the first Gulf Judicial Seminar on Cross-Frontier Legal Cooperation in Civil and Commercial Matters was held in Doha, Qatar. The Permanent Bureau of the Hague Conference attended the conference and invited the states of the Gulf Cooperation Council (GCC) namely, The United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait to adopt some of the Hague Conventions, one of which was the Hague Convention on Choice of Court Agreements. One of the recommendations of the conference was that the GCC states should research ‘the benefits of predictability and legal certainty provided by the 2005 Convention on Choice of Court Agreements and its resulting advantages for cross-border trade and investment’ for possible adoption of the Hague Convention. Up to today, no further step has been taken by the any of the GCC states to adapt the Hague Convention nor did they conduct research on the benefits of predictability and legal certainty in international business transactions. This paper will argue that the approach regarding the recognition of choice of court agreements in United Arab Emirates states can be improved in order to help the parties in international business transactions avoid parallel litigation and ensure legal certainty and predictability. The focus will be the uncertainty and gaps regarding the choice of court agreements in the United Arab Emirates states. The Hague Convention on choice of court agreements and the importance of harmonisation of the rules of choice of court agreements at international level will also be discussed. Finally, The feasibility and desirability of recognizing choice of court agreements in United Arab Emirates legal system by becoming a party to the Hague Convention will be evaluated.

Keywords: choice of court agreements, party autonomy, public authority, sovereignty

Procedia PDF Downloads 246
2325 A Two Stage Stochastic Mathematical Model for the Tramp Ship Routing with Time Windows Problem

Authors: Amin Jamili

Abstract:

Nowadays, the majority of international trade in goods is carried by sea, and especially by ships deployed in the industrial and tramp segments. This paper addresses routing the tramp ships and determining the schedules including the arrival times to the ports, berthing times at the ports, and the departure times in an operational planning level. In the operational planning level, the weather can be almost exactly forecasted, however in some routes some uncertainties may remain. In this paper, the voyaging times between some of the ports are considered to be uncertain. To that end, a two-stage stochastic mathematical model is proposed. Moreover, a case study is tested with the presented model. The computational results show that this mathematical model is promising and can represent acceptable solutions.

Keywords: routing, scheduling, tram ships, two stage stochastic model, uncertainty

Procedia PDF Downloads 436
2324 Effect of Sodium Aluminate on Compressive Strength of Geopolymer at Elevated Temperatures

Authors: Ji Hoi Heo, Jun Seong Park, Hyo Kim

Abstract:

Geopolymer is an inorganic material synthesized by alkali activation of source materials rich in soluble SiO2 and Al2O3. Many researches have studied the effect of aluminum species on the synthesis of geopolymer. However, it is still unclear about the influence of Al additives on the properties of geopolymer. The current study identified the role of the Al additive on the thermal performance of fly ash based geopolymer and observing the microstructure development of the composite. NaOH pellets were dissolved in water for 14 M (14 moles/L) sodium hydroxide solution which was used as an alkali activator. The weight ratio of alkali activator to fly ash was 0.40. Sodium aluminate powder was employed as an Al additive and added in amounts of 0.5 wt.% to 2 wt.% by the weight of fly ash. The mixture of alkali activator and fly ash was cured in a 75°C dry oven for 24 hours. Then, the hardened geopolymer samples were exposed to 300°C, 600°C and 900°C for 2 hours, respectively. The initial compressive strength after oven curing increased with increasing sodium aluminate content. It was also observed in SEM results that more amounts of geopolymer composite were synthesized as sodium aluminate was added. The compressive strength increased with increasing heating temperature from 300°C to 600°C regardless of sodium aluminate addition. It was consistent with the ATR-FTIR results that the peak position related to asymmetric stretching vibrations of Si-O-T (T: Si or Al) shifted to higher wavenumber as the heating temperature increased, indicating the further geopolymer reaction. In addition, geopolymer sample with higher content of sodium aluminate showed better compressive strength. It was also reflected on the IR results by more shift of the peak position assigned to Si-O-T toward the higher wavenumber. However, the compressive strength decreased after being exposed to 900°C in all samples. The degree of reduction in compressive strength was decreased with increasing sodium aluminate content. The deterioration in compressive strength was most severe in the geopolymer sample without sodium aluminate additive, while the samples with sodium aluminate addition showed better thermal durability at 900°C. This is related to the phase transformation with the occurrence of nepheline phase at 900°C, which was most predominant in the sample without sodium aluminate. In this work, it was concluded that sodium aluminate could be a good additive in the geopolymer synthesis by showing the improved compressive strength at elevated temperatures.

Keywords: compressive strength, fly ash based geopolymer, microstructure development, Na-aluminate

Procedia PDF Downloads 122
2323 Reduction of Chlordecone Rates in Bioelectrochemicals Systems from Water and Sediment Swamp Mangrove in Absence of a Redox Mediator

Authors: Malory Beaujolais

Abstract:

Chlordecone is an organochlorine pesticide with a bishomocubane structure which led to high stability in organic matter. Microbial fuel cell is a type of electrochemical system that can convert organic matters into electricity thanks to electroactive bacteria. This technique has been used with mangrove swamp from Martinique to try to reduce chlordecone rates. Those experiments led to characterize the behavior of the electroactive biofilm formed at the cathode, without added redox mediator. The designed bioelectrochemical system seems to provide the necessary conditions for chlordecone degradation.

Keywords: bioelectrochemistry, bioremediation, chlordecone, mangrove swamp

Procedia PDF Downloads 40