Search results for: slave trade

Authors: Frankie Burgos, Emely Munar, Conrado Basa

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This paper aimed at developing an artificial neural network (ANN) model specifically for the Philippine Stock Exchange index closing value. The inputs to the ANN are US Dollar and Philippine Peso(USD-PHP) exchange rate, GDP growth of the country, quarterly inflation rate, 10-year bond yield, credit rating of the country, previous open, high, low, close values and volume of trade of the Philippine Stock Exchange Index (PSEi), gold price of the previous day, National Association of Securities Dealers Automated Quotations (NASDAQ), Standard and Poor’s 500 (S & P 500) and the iShares MSCI Philippines ETF (EPHE) previous closing value. The target is composed of the closing value of the PSEi during the 627 trading days from November 3, 2011, to May 30, 2014. MATLAB’s Neural Network toolbox was employed to create, train and simulate the network using multi-layer feed forward neural network with back-propagation algorithm. The results satisfactorily show that the neural network developed has the ability to model the PSEi, which is affected by both internal and external economic factors. It was found out that the inputs used are the main factors that influence the movement of the PSEi closing value.

Keywords: artificial neural networks, artificial intelligence, philippine stocks exchange index, stocks trading

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Authors: Linus O. Asuquo

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Mining in Nigeria and development effort of metallurgical technologies at National Metallurgical Development Centre Jos has been addressed in this paper. The paper has looked at the history of mining in Nigeria, the impact of mining on social and industrial development, and the contribution of the mining sector to Nigeria’s Gross Domestic Product (GDP). The paper clearly stated that Nigeria’s mining sector only contributes 0.5% to the nation’s GDP unlike Botswana that the mining sector contributes 38% to the nation’s GDP. Nigeria Bureau of Statistics has it on record that Nigeria has about 44 solid minerals awaiting to be exploited. Clearly highlighted by this paper is the abundant potentials that exist in the mining sector for investment. The paper made an exposition on the extensive efforts made at National Metallurgical Development Center (NMDC) to develop metallurgical technologies in various areas of the metals sector; like mineral processing, foundry development, nonferrous metals extraction, materials testing, lime calcination, ANO (Trade name for powder lubricant) wire drawing lubricant, refractories and many others. The paper went ahead to draw a conclusion that there is a need to develop the mining sector in Nigeria and to give a sustainable support to the efforts currently made at NMDC to develop metallurgical technologies which are capable of transforming the metals sector in Nigeria, which will lead to industrialization. Finally the paper made some recommendations which traverse the topic for the best expectation.

Keywords: mining, minerals, technologies, value addition

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Authors: Qian Liu, Steve Furber

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To explore how the brain may recognize objects in its general,accurate and energy-efficient manner, this paper proposes the use of a neuromorphic hardware system formed from a Dynamic Video Sensor~(DVS) silicon retina in concert with the SpiNNaker real-time Spiking Neural Network~(SNN) simulator. As a first step in the exploration on this platform a recognition system for dynamic hand postures is developed, enabling the study of the methods used in the visual pathways of the brain. Inspired by the behaviours of the primary visual cortex, Convolutional Neural Networks (CNNs) are modeled using both linear perceptrons and spiking Leaky Integrate-and-Fire (LIF) neurons. In this study's largest configuration using these approaches, a network of 74,210 neurons and 15,216,512 synapses is created and operated in real-time using 290 SpiNNaker processor cores in parallel and with 93.0% accuracy. A smaller network using only 1/10th of the resources is also created, again operating in real-time, and it is able to recognize the postures with an accuracy of around 86.4% -only 6.6% lower than the much larger system. The recognition rate of the smaller network developed on this neuromorphic system is sufficient for a successful hand posture recognition system, and demonstrates a much-improved cost to performance trade-off in its approach.

Keywords: spiking neural network (SNN), convolutional neural network (CNN), posture recognition, neuromorphic system

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Authors: Saeid Rabiei Majd, Motahareh Alvandi, Mehrad Rabiei

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The rapid economic and technological development of any country depends on access to cheap sources of energy. Competition for access to petroleum resources is always accompanied by numerous environmental risks. These factors have caused more attention to environmental issues and sustainable development in petroleum contracts and activities. Nowadays, a sign of developed countries is adhering to the principles and rules of international environmental law and sustainable development of commercial contracts. China has entered into play through the massive project plan, One Belt, One Road. China is becoming a new emerging power in the world. China's bilateral investment treaties have an impact on environmental rights and sustainable development through regional and international foreign direct investment. The aim of this research is to examine China's key position to promote and improve environmental principles and international law and sustainable development in the energy sector in the world through the initiative, One Belt, One Road. Based on this hypothesis, it seems that in the near future, China's investment bilateral investment treaties will become popular investment model used in global trade, especially in the field of energy and sustainable development. They will replace the European and American models. The research method is including literature review, analytical and descriptive methods.

Keywords: principles of sustainable development, oil and gas law, Chinas BITs, One Belt One Road, environmental rights

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Authors: Mario Gómez, Won Ho Kim, Ángel Licona, José Carlos Rodríguez

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This article analyzes innovation activity in Mexico and South Korea. It develops an econometric model to test for structural breaks in the number of patent applications filed by residents and nonresidents in these countries during the period of 1965 to 2012. These changes may suggest that firms’ innovative capabilities have changed because of implementing different science, technology and innovation (STI) policies in Mexico and South Korea. Two important features characterize this research from others already developed by these authors. First, the theoretical research framework in this research is the debate between the assimilation view of growth and the accumulation view of growth. This characteristic suggests that trade liberalization should be accompanied by an adequate STI policy to boost competitiveness among indigenous firms. Second, the analysis in this research stresses the importance of key actors (e.g. governments) to successfully develop innovation capabilities among indigenous firms. Therefore, the question conducting this research is how STI policies in Mexico and South Korea contributed to develop firms’ innovation capabilities in these countries during last decades? The results from this research suggests that STI policy in South Korea was more suitable to boost innovation firms to compete in markets. Data to develop this research was released by the World Intellectual Property Organization (WIPO).

Keywords: innovation, Mexico, South Korea, science, technology and innovation policy

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Authors: Fateme Mazbanpoor, Sayed Mohammad Amiri

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In this article, we will examine the Persian words in Quran and study the reasons of their presence in this holy book. Writers of this paper extracted about 70 Persian words of Quran by referring to resources. (Alalfaz ol Moarab ol Farsieh Edishir, Almoarabol Javalighi, Almahzab va Etghan Seuti; Vocabulary involved in Quran Arthur Jeffry;, and etc…), some of these words are: ‘Abarigh, ‘Estabragh’,’Barzakh’, ‘Din’,’Zamharir, ‘Sondos’ ‘Sejil’,’ Namaregh’, ‘Fil’ etc. These Persian words have entered Arabic and finally entered Quran in two ways: 1) directly from Persian language, 2) via other languages. The first way: because of the Iranian dominance on Hira, Yemen, whole Oman and Bahrein land in Sasanian period, there were political, religious, linguistic, literary, and trade ties between these Arab territories causing the impact of Persian on Arabic; giving way to many Persian-loan words into Arabic in this period of time. The second way: Since the geographical and business conditions of the areas were dominated by Iran, Hejaz had lots of deals and trades with Mesopotamia and Yemen. On the other hand, Arabic language which was relatively a young language at that time, used to be impressed by Semitic languages in order to expand its vocabulary (Syrian and Aramaic were influenced by the languages of Iran). Consequently, due to the long relationship between Iranian and Arabs, some of the Persian words have taken longer ways through Aramaic and Syrian to find their way into Quran.

Keywords: Quran, Persian word, Arabic language, Persian

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Authors: Esra Cebeci

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As a result of acceleration of globalization in the 21st century economic boundaries are removed. With liberalization of capital and foreign trade, not only developed countries but also developing countries get into rapid growth efforts. In developing countries, one of the most important problem is insufficient capital accumulation. For reduce this deficit, one of the general approaches that is offered increasing amount of foreign direct investments. Also, in developing countries saving rates are low. So, foreign direct investments make possible an increase for domestic savings. In this regard, the multinational corporations are capable of these investments have importance. By providing micro-macro effects for countries, demand for these firms are many. These effects in general positive, some negative effects may able to come into being especially for developing countries. Foreign direct investments are performed buying an existing corporation, merging or greenfield investments. In recent, foreign direct investments are performed as a green field investments for developing countries. The study aims to analysis foreign direct investment trends for 2000-2013 years. In the first part of this study, the importance of foreign direct investments and their determinants are explained. In the second part, the article also shows that comparative analysis of the inward and outward investments for developing and developed countries. In conclusion, while developed countries can stand competition against other countries with these investments, developing countries can provide a sustainable growth with capital inflows.

Keywords: foreign direct investments, multinational corporations, determinants of FDI, FDI trend

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Authors: N. Balamurugan, N. V. Mahalakshmi

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Compression ignition (CI) engines are known for their high thermal efficiency in comparison with spark-ignited (SI) engines. This makes CI engines a potential candidate for the future prime source of power for transportation sector to reduce greenhouse gas emissions and to shrink carbon footprint. However, CI engines produce high levels of NOx and soot emissions. Conventional methods to reduce NOx and soot emissions often result in the infamous NOx-soot trade-off. The injection parameters are one of the most important factors in the working of CI engines. The engine performance, power output, economy etc., is greatly dependent on the effectiveness of the injection parameters. The injection parameter has their direct impact on combustion process and pollutant formation. The injection parameter’s values are required to be optimised according to the application of the engine. Control of fuel injection mode is one method for reduction of NOx and soot emissions that is achievable. This study aims to assess, compare and analyse the influence of the effect of injection characteristics that is SOI timing studied on combustion and emissions in in-cylinder combustion processes with that of conventional DI Diesel Engine system using the commercial Computational Fluid Dynamic (CFD) package STAR- CD ES-ICE.

Keywords: variation of injection timing, compression ignition engine, spark-ignited, Computational Fluid Dynamic

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Authors: Qing Wu, Fei-Yan Li, Heng-Chang Zhang

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Multitask learning support vector machines (SVMs) have recently attracted increasing research attention. Given several related tasks, the single-task learning methods trains each task separately and ignore the inner cross-relationship among tasks. However, multitask learning can capture the correlation information among tasks and achieve better performance by training all tasks simultaneously. In addition, the asymmetric squared loss function can better improve the generalization ability of the models on the most asymmetric distributed data. In this paper, we first make two assumptions on the relatedness among tasks and propose two multitask learning proximal support vector machine algorithms, named MTL-a-PSVM and EMTL-a-PSVM, respectively. MTL-a-PSVM seeks a trade-off between the maximum expectile distance for each task model and the closeness of each task model to the general model. As an extension of the MTL-a-PSVM, EMTL-a-PSVM can select appropriate kernel functions for shared information and private information. Besides, two corresponding special cases named MTL-PSVM and EMTLPSVM are proposed by analyzing the asymmetric squared loss function, which can be easily implemented by solving linear systems. Experimental analysis of three classification datasets demonstrates the effectiveness and superiority of our proposed multitask learning algorithms.

Keywords: multitask learning, asymmetric squared loss, EMTL-a-PSVM, classification

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Authors: Fatemeh Noughani, Seyd Mehdi Sadat

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Medical tourism or travel therapy is travelling from one country to another to be under medical treatment, utilizing the health factors of natural sector like mineral water springs and so on. From 1990s medical tourism around the world developed and grew because of different factors like globalization and free trade in the fields of health services, changes in exchange rates in the world economy (which caused the desirability of Asian countries as a medical tourist attraction) in a way that currently there is a close competition in this field among famous countries in medical services to make them find a desirable place in medical tourism market of the world as a complicated and growing industry in a short time. Perhaps tourism is an attractive industry and a good support for the economy of Iran, if we try to merge oil earnings and tourism industry it would be better and more constructive than putting them in front of each other. Moving from oil toward tourism economy especially medical tourism, must be one of the prospects of Iran's government for the oil industry to provide a few percent of the yearly earnings of the country. Among the achievements in medical tourism we can name the prevention of brain drain to other countries and an increase in employment rate for healthcare staff, increase in foreign exchange earnings of the country because of the tourists' staying and followed by increasing the quality of life and cultural transmission as well as empowering the medical human resources.

Keywords: developing countries, health tourism, quality of life, cultural transmission

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Authors: Olanrewaju B. Lasisi

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The position of Ijebu-Ode, the historical capital of the Ijebu Kingdom, at the center of gravity of Ijebu land is enclosed by the 180-km-long earthwork and suggests a centrally controlled project. This paper reflects on the first stratigraphic drawing of the banks and ditches of this earthwork, and place its construction mechanism in a chronological framework. Nine radiocarbon dates obtained at the site suggest that the earthwork was built in the late 14th or early 15th century. This suggests a relationship with the Ijebu Kingdom, which pre-existed the opening of the Atlantic trade but first became visible only in the Portuguese records in the 1480s. In June 2017, more earthworks were found but within the core of Ijebu Land. This most recent finding points to an extension of territory from the center to the outlying villages. One central question about this discovery of monumental architectures that was functional around the 14th century or before is in its mode of construction. Apparently, iron tools must have been used in the construction of ‘a 20m deep ditch that runs 180km in circumference.’ Thus, the discovery of iron-working sites around the vicinity of the earthwork is a pointer to this building process that is up till now shrouded in mystery. By comparing the chronology of Ijebu earthworks with the evidence of Iron working in south western Nigeria around the first half of the first millennium AD, it can be thought that the rise in polity triggered the knowledge of metallurgy in the region.

Keywords: archaeology, earthworks, Ijebu, metallurgy

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Authors: Huei-Fu Lu

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Hosting international major sports events (MSEs) has become a globalized strategy for many countries. Most modern countries believe that MSEs can bring the hosting countries with substantial and considerable economic and non-economic benefits; so many cities also input a huge of resources to bid for hosting MSEs. Despite the growing importance of MSEs, limited longitudinal analysis has been carried out to understand and explain the long term economic effects of such events. This paper is to continue the focus of previous literature on the economic effects of hosting MSEs. The study periods are from 1950 to 2014 and the secondary macro-economic data are selected from the countries that have hosted the Asian Games and the Olympic Games (including summer and winter) to precede a longitudinal analysis. A comparison of the real economic growth rate, investment, employment and international trade of hosting countries and the duration of these economic effects are also explored and discussed. Based on the countries’ attributes and locating area, aiming to ascertain whether hosting MSEs is economically worthwhile and whether the economic effects from MSEs are realized as anticipated. The results indicate that hosting MSEs to create positive economic effects like GDP growth or long-term employment may be a myth even for developing countries. However, the empirical findings can provide the sport management or authority with longitudinal and comprehensive elaboration for biding or hosting MSEs in the future.

Keywords: Asian Games, economic effects, major sports events (MSEs), olympic games

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Authors: Mariam Aref Mahmoud

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A myth surrounding the development of Cairo bases itself in the Fatimid era when the city, as we know it today, was built. Surrounding the city was a wall meant to protect the main center from any possible attack. The effects of global hierarchies of power extend further than labor regulations and trade statistics. Beyond that, they form dialectical oppositions between local and global identities within urban space. As such, those in power often aim to claim national identity as what they perceive to be the most nationally beneficial strategy. These claims over perceptions of national identity take over the streets, the advertisements, and the parks and eventually make their way into the different forms of media. Often, these claims take over the main planning goals of the city. Whether it is through the control over which sounds are allowed to be produced in public space, what type of people are encouraged to enter which spaces, or other forms of performing local and national identity, public space, property, and land have often been used as a method to present to both the public and the global population what people in power wish for these spaces to represent. In Egypt, these developments have been changing since the end of colonial rule. In particular, this paper will analyze how Hosni Mubarak, and to a certain extent Anwar el-Sadat, enacted neoliberal designs dedicated towards modernization in order to present an image of a Cairo that is not uniquely Egyptian but essentially Western cosmopolitan - a Cairo that belongs to a globalized world.

Keywords: Egypt, imperialism, westernization, housing

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Authors: Hyun-Soo Seol, In-Gun Kim, Hyun Seok Hong, Dong-Woo Kang, Ju Lee

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Rotor of Spoke-Type PMSM is divided into permanent magnet and rotor core. Moreover, rotor core is composed of pole-piece, Bridge and rib. Piece between the permanent magnet N and S poles is pole-piece. Bridge and rib hold pole-piece. In the case of pole-piece and bridge, it is essential structure of Spoke-Type PMSM. However, Rib can be selected by the designer depending on the operating conditions and constraints. If rib is present in the rotor, rib which acts in the leak path generates a leakage flux. Although the leakage flux reduces the torque in low speed, it expands speed range in high speed. So, there is a relationship of trade off. Viewed from the standpoint of permanent magnet demagnetization, since the magnetic flux by the stator winding leaks to the rib, it is an advantage. In addition, rib affects the safety factor of the rotor. For application required high speed operation, since the securing the safety factor of the rotor is important, rib structure is advantageous. On the other hand, in the case of the application that does not require high speed operation, it is desirable to increase the output power by designing without rib. In this paper, Effects on rib structure is analyzed in detail and this paper provides designer with information about rotor design of spoke-type PMSM according to rib structure.

Keywords: spoke-Type PMSM, rotor shape, rib, operation range

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Authors: Gabriella Fardhiyanti, Victor Wee

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Air connectivity is the crucial factors to boost a region economics growth. It will open the accessibility to support regional competitiveness and helps to achieve ASEAN (Association of Southeast Asian Nations) integration in term of economic integration, business investment, promote intra-regional trade, and creates the sense of belongingness among ASEAN people in the region. An increasing number of air connectivity and transportation will be benefiting the region because air transportation is a vital hub for ASEAN. The aim of this paper is to address the importance of air connectivity in promoting ASEAN Integration, by focusing on the ASEAN vision for a more integrated region. The assessment uses based on the Netscan Air connectivity model based on the flight destination and airport connectivity index, further analysis present that air connectivity significantly influence ASEAN tourism sector. Follow by the implications of open skies policy for the liberation of the aviation industry and the growth of low cost-carriers (LCCs) in the region. This paper provides recommendation and strategy for overcoming the challenges faced by ASEAN to boost ASEAN tourism integration successfully. The findings can assist in guiding policy and industry stakeholders in the future decision relating to air liberalization and more integrated system in the region.

Keywords: air connectivity, ASEAN integration, low-cost carries, NetScan connectivity model, open skies policy

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Authors: R. A. Retno Hastijanti, David Agus Sagita, Arum Lintang Cahyani, Tectona Radike, Andreas Suluh Putra

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Surabaya, is one of the oldest cities in Indonesia. Most of the old quarter city of Surabaya is an ancient Kampong. Ketandan is one ancient Kampong in the center of Surabaya, surrounded by a thriving trade area. These conditions make Kampong vulnerably degraded of environmental quality and tended to lose their cultural identity. Norms and values eroded by the rapid development of its local surroundings. Through Kampong conservation programs, Surabaya city government established Ketandan as one of the urban heritage. To achieve the ideal condition of urban heritage, public participation is required. One thing that can generate a motivation for Kampong Ketandan community participation is to rediscover the identity of Kampong Ketandan. This research aims to explore the appropriate method to rediscover the identity of Kampong Ketandan. Through qualitative research methods, based on observations and focus group discussions, it was concluded that mural mentoring program was the best method that can be accepted by the Kampong community to rediscover their identity. Mural as one of the urban art form, able to motivate Kampong community to express their self and bring an icon to their Kampong. The benefits of this research are to provide input to the city government and the private sector to preserve urban heritage, moreover, to transform an urban heritage into a productive space in urban areas in order to enhance city revenues.

Keywords: Kampong, Kampong Ketandan, mural, Surabaya, urban, urban heritage, urban art

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Authors: Sakapas Saengchai, Vilasinee Jintalikhitdee, Mathinee Khongsatid, Nattapol Pourprasert

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This paper studied the preparing education enter the ASEAN Community by the year 2015 the Ministry of Education has policy on ASEAN Charter, including the dissemination of information to create a good attitude about ASEAN, development of students' skills appropriately, development of educational standards to prepare for the liberalization of education in the region and Youth Development as a vital resource in advancing the ASEAN community. Preparing for the liberalization of education Commission on Higher Education (CHE) has prepared Thailand strategic to become ASEAN and support the free trade in higher education service; increasing graduate capability to reach international standards; strengthening higher educational institutions; and enhancing roles of educational institutions in the ASEAN community is main factor in set up long-term education frame 15 years, volume no. 2. As well as promoting Thailand as a center for education in the neighbor countries. As well as development data centers of higher education institutions in the region make the most of the short term plan is to supplement the curriculum in the ASEAN community. Moreover, provides a teaching of English and other languages used in the region, creating partnerships with the ASEAN countries to exchange academics staff and students, research, training, development of joint programs, and system tools in higher education.

Keywords: ASEAN community, education, institution, dissemination of information

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Authors: Regina Chua

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To reduce the costs of re-fielding a large survey, a Random Forest classifier was applied to measure the accuracy of classifying individuals into their assigned segments with the fewest possible questions. Given a long survey, one needed to determine the most predictive ten or fewer questions that would accurately assign new individuals to custom segments. Furthermore, the solution needed to be quick in its classification and usable in non-Python environments. In this paper, a supervised Random Forest classifier was modeled on a dataset with 7,000 individuals, 60 questions, and 254 features. The Random Forest consisted of an iterative collection of individual decision trees that result in a predicted segment with robust precision and recall scores compared to a single tree. A random 70-30 stratified sampling for training the algorithm was used, and accuracy trade-offs at different depths for each segment were identified. Ultimately, the Random Forest classifier performed at 87% accuracy at a depth of 10 with 20 instead of 254 features and 10 instead of 60 questions. With an acceptable accuracy in prioritizing feature selection, new tools were developed for non-Python environments: a worksheet with a formulaic version of the algorithm and an embedded function to predict the segment of an individual in real-time. Random Forest was determined to be an optimal classification model by its feature selection, performance, processing speed, and flexible application in other environments.

Keywords: machine learning, supervised learning, data science, random forest, classification, prediction, predictive modeling

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Authors: Yuval Reinfeld

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This paper explores the European Union’s expanding influence as a global regulatory power, particularly in the realms of legal, security, and privacy challenges within the digital landscape. As digital regulation becomes increasingly vital, the EU has positioned itself as a leading exporter of privacy and cybersecurity standards through landmark frameworks like the General Data Protection Regulation (GDPR), the Artificial Intelligence Act (AIA), and the Digital Services Act (DSA). These regulations have set global benchmarks, extending their influence well beyond Europe’s borders by shaping legal frameworks in third countries and guiding the development of global digital governance. Central to this regulatory diffusion is the European Court of Justice (CJEU), whose rulings consistently reinforce and extend the reach of EU standards on an international scale. Through mechanisms such as trade agreements, adequacy decisions, and multilateral cooperation, the EU has constructed a regulatory ecosystem that other jurisdictions increasingly adopt. This paper investigates key CJEU cases to illustrate how the EU’s legal instruments in privacy, security, and AI contribute to its role as a global standard-setter. By examining the intersection of digital governance, international law, and normative power, this research provides a thorough analysis of the EU’s regulatory impact on global privacy, cybersecurity, and AI frameworks.

Keywords: digital privacy, cybersecurity, GDPR, European Union Law, artificial intelligence, global normative power

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Authors: Oentoeng Wahjoe

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Liberalisation of air transportation practically is known as open sky policy. In the practice, the liberalisation of air transportation is divided into two group of services, i.e.: air transportation services, for passengers and goods (air service) which is categorized as hard rights and supporting services of the air transportation services (ancillary services) which is categorized as soft rights. The research in this paper focused in air transportation services for passengers and goods, consists of nine freedom of the air. The impact of the policy such as the Agreement regarding ASEAN open sky policy, is the readiness of Indonesian air transportation companies to compete with foreign air transportation companies. The goverment of Indonesia has to regulate the implementation of ASEAN Open Sky Policy to be projected in order to comply with national development, i.e. the function of air law in national development. The policy has been implemented by enact or amend the existing law as air law that regulate flight lines, the following provisions: To regulate flight line for foreign airlines to open flight lines in Indonesia region which may not or have not land and sea transportation. The regulation is intended to supprot mobility of humans, goods and services that may fulfil the needs of the people of Indonesia, which materially and spiritually and the development of the region. The regulation of flight lines of foreign air transportation for region of tourism, industrial and trade centre. The regulation is intended to support the national economic development of Indonesia.

Keywords: transport, liberalization, impact, Indonesian air service

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Authors: Helena Susana Afonso Alves, Natália Maria Rafael Canadas, Ana Maria Rodrigues

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We examined the impact of governance rules on information asymmetry, using the turnover ratio and the bid-ask spread as proxies for the information asymmetry. We used a SEM model and analyzed the indirect relations through the voluntary disclosure of information and the organizational performance. We built a voluntary disclosure index based on the information firms provided in their annual reports and divided the governance characteristics in two constructs: directors’ and supervisors’ structures and ownership structure. We concluded that the ownership structure exerts a direct influence on share price and share liquidity, Otherwise, the directors’ and supervisors’ structures exert an indirect influence, through the organizational performance and the voluntary disclosure of information. The results also show that for firms with high levels of disclosure the bid-ask spread is lower. However, in firms with a high ownership concentration investors tend to increase the bid-ask spreads and trade less, which, in this case, reduces the liquidity of the stock. The failure to find the relationship between voluntary disclosure of information and the turnover ratio shows us that the liquidity of shares is more related to the greater or lesser concentration of shareholders, with the performance of their companies than with the access to information. Moreover, it is clear that the role that information disclosure plays is mainly at the level of price formation.

Keywords: corporate governance, information asymmetry, voluntary disclosure, structural equation modelling, SEM

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Authors: Arjun K., Arumugam Sankaran, Sanjay Kumar, Mousumi Das

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The paper analyses the existence of endogenous growth scenario emanating from the demographic dividend in India during the liberalization period starting from 1980. Demographic dividend creates a fertile ground for the cultivation of human and knowledge capitals contributing to technological progress which can be measured using total factor productivity. The relationship among total factor productivity, human and knowledge capitals are examined in an open endogenous framework for the period 1980-2016. The control variables such as foreign direct investment, trade openness, energy consumption are also employed. The data are sourced from Reserve Bank of India, World Bank, International Energy Agency and The National Science and Technology Management Information System. To understand the dynamic association among variables, ARDL bounds approach to cointegration followed by Toda-Yamamoto causality test are used. The results reveal a short run and long run relationship among the variables supported by the existence of causality. This calls for an integrated policy to build and augment human capital and research and development activities to sustain and pace up growth and development in the nation.

Keywords: demographic dividend, young population, open endogenous growth models, human and knowledge capital

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Authors: Laila Algalal, Chen Xi

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The US dollar has long served as the world's primary reserve currency. However, this dominance faces growing challenges from internal US economic pressures and the rise of alternative currencies. Internally, issues like high debt, inflation, reduced competitiveness, and economic instability due to inequality in economic policies threaten the dollar's position. Externally, more countries are establishing alternative currencies, payment systems, and regional financial institutions to reduce dollar dependence. These drivers have contributed to a decline in the dollar's share of global foreign exchange reserves from 71% in 2001 to an estimated 58% in 2022. While this 13-percentage point drop took two decades, recent initiatives suggest de-dollarization could accelerate in the coming few decades. Efforts to establish non-dollar trade deals and alternative financial systems show more substantial progress compared to initiatives in the early 2000s. As the nature of the world system is anarchic, states make either individual or group efforts to guarantee their economic security and achieve their interests. Based on neoclassical realism, this paper analyzes both internal and external US economic factors driving current and future de-dollarization and the implications on the international monetary system, in addition to examining the motivation for such moves.

Keywords: de-dollarization, US dollar, monetary system, economic security, economic policies.

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Authors: Federico Pittino, Thomas Arnold

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The shredding of waste materials is a key step in the recycling process towards the circular economy. Industrial shredders for waste processing operate in very harsh operating conditions, leading to the need for frequent maintenance of critical components. Maintenance optimization is particularly important also to increase the machine’s efficiency, thereby reducing the operational costs. In this work, a monitoring system has been developed and deployed on an industrial shredder located at a waste recycling plant in Austria. The machine has been monitored for one year, and methods for predictive maintenance have been developed for two key components: the cutting knives and the drive belt. The large amount of collected data is leveraged by statistical machine learning techniques, thereby not requiring very detailed knowledge of the machine or its live operating conditions. The results show that, despite the wide range of operating conditions, a reliable estimate of the optimal time for maintenance can be derived. Moreover, the trade-off between the cost of maintenance and the increase in power consumption due to the wear state of the monitored components of the machine is investigated. This work proves the benefits of real-time monitoring system for the efficient operation of industrial shredders.

Keywords: predictive maintenance, circular economy, industrial shredder, cost optimization, statistical machine learning

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.

Keywords: decision making, system of system, cross-border, infrastructure project

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Authors: Marie Louis

Abstract:

Even though many stakeholders are doing their very best to promote public transportation around the world, many areas are still public transportation non-accessible. With travelers purchasing and driving their private vehicles can be considered as a threat to all three aspects of the sustainability (e.g., economical, social, environmental). However, most studies that considered simultaneously all three aspects of the sustainability concept when planning and designing public transportation for a corridor have found tradeoffs among the said three aspects.One of the tradeoffs was identified by looking at tipping points of the travel demands to question whether transit agencies/and or transportation policymakers should either operate smaller buses or provide incentives to purchase Leadership in Energy and Environmental Design (LEED)-Qualified low-emission vehicles or greener vehicles (e.g., hybrid). However, how and when do the department of environmental protection (DEP) and the department of revenue (DOR) figure out how much incentives to give to each traveler who lives in a zoning that is considered as public transportation inaccessible or accessible? To answer this policy question, this study aims to compare the greenhouse gases (GHGs) emissions when hybrid and conventional cars are used to access public transportation stops/stations. Additionally, this study also intends to review previous states that have already adopted low-emissions vehicle (LEVs) or Zero-Emissions Vehicles (ZEVs) to diminish the daily GHGs pollutants.

Keywords: LEED-qualified vehicles, public transit accessibility, hybrid vehicles incentives, sustainability trade-offs

Procedia PDF Downloads 195

Authors: Gabriel Sitler, Yousef Sardahi, Asad Salem

Abstract:

This paper presents an optimal and robust sliding mode controller (SMC) to regulate the position of the knee joint angle for patients suffering from knee injuries. The controller imitates the role of active orthoses that produce the joint torques required to overcome gravity and loading forces and regain natural human movements. To this end, a mathematical model of the shank, the lower part of the leg, is derived first and then used for the control system design and computer simulations. The design of the controller is carried out in optimal and multi-objective settings. Four objectives are considered: minimization of the control effort and tracking error; and maximization of the control signal smoothness and closed-loop system’s speed of response. Optimal solutions in terms of the Pareto set and its image, the Pareto front, are obtained. The results show that there are trade-offs among the design objectives and many optimal solutions from which the decision-maker can choose to implement. Also, computer simulations conducted at different points from the Pareto set and assuming knee squat movement demonstrate competing relationships among the design goals. In addition, the proposed control algorithm shows robustness in tracking a standard gait signal when accounting for uncertainty in the shank’s parameters.

Keywords: optimal control, multi-objective optimization, sliding mode control, wearable knee exoskeletons

Procedia PDF Downloads 82

Authors: K. Debkowska

Abstract:

The aim of this article is presenting the possibilities of using Fuzzy Set Qualitative Comparative Analysis (fsQCA) in researches concerning business models of enterprises. FsQCA is a bridge between quantitative and qualitative researches. It's potential can be used in analysis and evaluation of business models. The article presents the results of a study conducted on the basis of enterprises belonging to different sectors: transport and logistics, industry, building construction, and trade. The enterprises have been researched taking into account the components of business models and the financial condition of companies. Business models are areas of complex and heterogeneous nature. The use of fsQCA has enabled to answer the following question: which components of a business model and in which configuration influence better financial condition of enterprises. The analysis has been performed separately for particular sectors. This enabled to compare the combinations of business models' components which actively influence the financial condition of enterprises in analyzed sectors. The following components of business models were analyzed for the purposes of the study: Key Partners, Key Activities, Key Resources, Value Proposition, Channels, Cost Structure, Revenue Streams, Customer Segment and Customer Relationships. These components of the study constituted the variables shaping the financial results of enterprises. The results of the study lead us to believe that fsQCA can help in analyzing and evaluating a business model, which is important in terms of making a business decision about the business model used or its change. In addition, results obtained by fsQCA can be applied by all stakeholders connected with the company.

Keywords: business models, components of business models, data analysis, fsQCA

Procedia PDF Downloads 170

Authors: Seung-Seok Bak, Chang-Mu Jung

Abstract:

An enough amount supply of industrial complexes is an important national policy in South Korea, which is highly dependent on foreign trade. A development process of the industrial complex can distinguish between the planning stage and the construction stage. The planning stage consists of the process of consulting with many stakeholders on the contents of the development of industrial complex, feasibility study, compliance with the Regional policies, and so on. The industrial complex planning stage, including licensing procedure, usually takes about three years in South Korea. The government determined that the appropriate supply of industrial complexes have been delayed, due to the long licensing period and drafted a law to shorten the license period in 2008. The law was expected to shorten the period of licensing, which was about three years, to six months. This paper attempts to show that the shortening of the licensing period does not positively affect the appropriate supply of industrial complexes. To do this, we used Interrupted Time Series Designs. As a result, it was found that the supply of industrial complexes was influenced more by other factors such as actual industrial complex demand of private sector and macro-level economic variables. In addition, the specific provisions of the law conflict with local policy and cause some problems such as damage to nature and agricultural land, traffic congestion.

Keywords: development of industrial complexes, industrial complexes, interrupted time series designs, simplification of licensing procedures for industrial complexes, time series regression

Procedia PDF Downloads 295

Authors: Yiseyon Hosu, Joseph Akande

Abstract:

Wheat is one of the most important staple food grains of human for centuries and is largely consumed in South Africa. It has a special place in the South African economy because of its significance in food security, trade, and industry. This paper modelled and forecast the production and consumption of wheat in South Africa in the time covid-19 and the ongoing Russia-Ukraine war by using annual time series data from 1940–2021 based on the ARIMA models. Both the averaging forecast and selected models forecast indicate that there is the possibility of an increase with respect to production. The minimum and maximum growth in production is projected to be between 3million and 10 million tons, respectively. However, the model also forecast a possibility of depression with respect to consumption in South Africa. Although Covid-19 and the war between Ukraine and Russia, two major producers and exporters of global wheat, are having an effect on the volatility of the prices currently, the wheat production in South African is expected to increase and meat the consumption demand and provided an opportunity for increase export with respect to domestic consumption. The forecasting of production and consumption behaviours of major crops play an important role towards food and nutrition security, these findings can assist policymakers and will provide them with insights into the production and pricing policy of wheat in South Africa.

Keywords: ARIMA, food security, price volatility, staple food, South Africa

Procedia PDF Downloads 102