Search results for: financial stability and solvency margin

Authors: Komlan Sedzro

Abstract:

We apply the non-parametric, unconditional, hyperbolic order-α quantile estimator to appraise the relative efficiency of Microfinance Institutions in Africa in terms of outreach. Our purpose is to verify if these institutions, which must constantly try to strike a compromise between their social role and financial sustainability are operationally efficient. Using data on African MFIs extracted from the Microfinance Information eXchange (MIX) database and covering the 2004 to 2006 periods, we find that more efficient MFIs are also the most profitable. This result is in line with the view that social performance is not in contradiction with the pursuit of excellent financial performance. Our results also show that large MFIs in terms of asset and those charging the highest fees are not necessarily the most efficient.

Keywords: data envelopment analysis, microfinance institutions, quantile estimation of efficiency, social and financial performance

Procedia PDF Downloads 290

Authors: Nikolaos Konstantopoulos, Aristeidis Samitas, Vasileiou Evangelos

Abstract:

The purpose of this study is to examine if the financial trends influence not only the stock markets’ returns, but also their anomalies. We choose to study the day of the week effect (DOW) for the Greek stock market during the Euro period (2002-12), because during the specific period there are not significant structural changes and there are long term financial trends. Moreover, in order to avoid possible methodological counterarguments that usually arise in the literature, we apply several linear (OLS) and nonlinear (GARCH family) models to our sample until we reach to the conclusion that the TGARCH model fits better to our sample than any other. Our results suggest that in the Greek stock market there is a long term predisposition for positive/negative returns depending on the weekday. However, the statistical significance is influenced from the financial trend. This influence may be the reason why there are conflict findings in the literature through the time. Finally, we combine the DOW’s empirical findings from 1985-2012 and we may assume that in the Greek case there is a tendency for long lived turn of the week effect.

Keywords: day of the week effect, GARCH family models, Athens stock exchange, economic growth, crisis

Procedia PDF Downloads 397

Authors: Z. O. Apotiola, J. F. Fashakin

Abstract:

A study was conducted to investigate the storage stability of Mr Chef and Annapurna salts. The salts were bought from Mile 12 market in Lagos State and were stored for a period of six months. The stability of the iodine content was then investigated by storing some at ambient temperature (24-30oC) and some at atmospheric temperature (21-35 oC), and from each storage condition, a sample each was taken every month to analyze for the iodine and moisture contents. The result shows that there was a significant difference between Mr Chef and the standard and Annapurna and the standard. The iodine content of Mr Chef stored at ambient and atmospheric temperature decreases progressively from 48.70±0.00-37.00±0.00 and 47.60±0.00-11.60±0.00 respectively. And that of Annapurna at both ambient and atmospheric temperature also decreases progressively from 47.60±0.00-36.60±0.00 and 47.60±0.00-10.60±0.00 respectively. Also, the moisture content of both salts at the zero month to the sixth month both at room temperature and atmospheric temperature increases from 1.11±0.00-1.70±0.00 and 1.11±0.00-2.40±0.00 respectively. The results of the heavy metals shows that only Copper, Zinc and Cobalt were detected at the first and the sixth month in both Mr Chef and Annapurna which ranges from 0.15±0.00-0.38±0.00 and 0.18±0.00 - 3.50±0.00 respectively. Hence, the stability of iodine in salt is influenced by the storage conditions it is subjected to and the length of time it is been stored.

Keywords: salt, iodine, stability, ambient, atmospheric temperature

Procedia PDF Downloads 565

Authors: Anoop T. R., Otman Basir, Robert F. Hess, Ben Thompson

Abstract:

Strabismus refers to a misalignment of the eyes. Early detection and treatment of strabismus in childhood can prevent the development of permanent vision loss due to abnormal development of visual brain areas. Currently, many children with strabismus remain undiagnosed until school entry because current automated screening methods have limited success in the preschool age range. A method for strabismus detection using eye alignment stability (EAS) is proposed. This method starts with face detection, followed by facial landmark detection, eye region segmentation, eye gaze extraction, and eye alignment stability estimation. Binarization and morphological operations are performed for segmenting the pupil region from the eye. After finding the EAS, its absolute value is used to differentiate the strabismic eye from the non-strabismic eye. If the value of the eye alignment stability is greater than a particular threshold, then the eyes are misaligned, and if its value is less than the threshold, the eyes are aligned. The method was tested on 175 strabismic and non-strabismic images obtained from Kaggle and Google Photos. The strabismic eye is taken as a positive class, and the non-strabismic eye is taken as a negative class. The test produced a true positive rate of 100% and a false positive rate of 7.69%.

Keywords: strabismus, face detection, facial landmarks, eye segmentation, eye gaze, binarization

Procedia PDF Downloads 65

Authors: Maria Krambia-Kapardis, Elisavet Charalambous

Abstract:

Corruption has given rise to extensive discussion due to its notorious consequences. It undermines democracy, brings in inequalities and imbalances and weakens governance. With the recent financial turmoil pinpointing that corruption has played a vital part, lessons have to be learned and actions have to be taken. Regulation can be the means for doing so as it advances transparency and accountability, leaving no space for corruption to flourish. Much depends though on the culture of a state and how determined it is to mark the end of corruption.

Keywords: banking regulation, corruption, culture, European Union

Procedia PDF Downloads 503

Authors: Nadezhda Kvatashidze

Abstract:

The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the formulation of expert assumptions regarding the specifics of the circumstances and events to be entered into the report based on the conceptual framework terms and principles. Experts have to make a choice in favor of one of the aforesaid and simulate the situations applying multi-variant accounting estimates and judgment. In making the choice, one should consider all the factors, which may help represent the information in the best way possible. Professional judgment determines the relevance and faithful representation of the presented information, which makes it more useful for the existing and potential investors. In order to assess the prospected net cash flows, the information must be predictable and reliable. The publication contains critical analysis of the aforementioned problems. The fact that the International Financial Reporting Standards are developed continuously makes the issue all the more important and that is another point discussed in the study.

Keywords: conceptual framework, faithful representation, professional judgement, relevance

Procedia PDF Downloads 207

Authors: O. Colot, M. Croquet, L. Cultrera, Y. Fandja Collince

Abstract:

The objective of our research is to evaluate the impact of the allowance for corporate equity (ACE) on the financial structure of Belgian SME in order to highlight the potential existence of a fiscal leverage. To limit the biases linked to the rationing of the capital further to the financial crisis, we compare first the dynamic evolution of the financial structure of the Belgian firms over the period 2006-2015 by focusing on three sub-periods: 2006-2008, 2009-2012 and 2013-2015. We give then an international size to this comparison by including SMEs from countries adjoining Belgium (France, Germany, Netherlands and the United Kingdom) and within which there is no ACE. This comparison allows better understanding the fiscal advantage linked to the ACE of firms evolving in a relatively unstable economic environment further to the financial crisis of 2008. This research is relevant given the economic and political context in which Belgium operates and the very uncertain future of the Belgian ACE. The originality of this research is twofold: the long study period and the consideration of the effects of the financial and economic crisis on the financing structure of Belgian SMEs. The results of this research, even though they confirm the existence of a positive fiscal leverage for the tax deduction for venture capital on the financing structure of Belgian SMEs, do not allow the extent of this leverage to be clearly quantified. The comparative evolution of financing structures over the period 2006-2015 of Belgian, French, German, Dutch and English SMEs shows a strong similarity in the overall evolution of their financing.

Keywords: allowance for corporate equity, Belgium, financial structure, small and medium sized firms

Procedia PDF Downloads 192

Authors: Manfred F. Maute, Olga Naumenko, Raymond T. Kong

Abstract:

Using data from a nationally representative financial panel of Canadian households, this study develops a psychographic segmentation of the customers of a value-expressive credit card service and tests for effects on relational response differences. The variety of segments elicited by agglomerative and k means clustering and the familiar profiles of individual clusters suggest that the face validity of the psychographic segmentation was quite high. Segmentation had a significant effect on customer satisfaction and relationship depth. However, when socio-demographic characteristics like household size and income were accounted for in the psychographic segmentation, the effect on relational response differences was magnified threefold. Implications for the segmentation of financial services markets are considered.

Keywords: customer satisfaction, financial services, psychographics, response differences, segmentation

Procedia PDF Downloads 321

Authors: Fatemeh Norouzi

Abstract:

Today, financial performance has become one of the important issues in accounting and auditing that companies and their managers have paid attention to this issue and for this reason to the variables that are influential in this field. One of the things that can affect financial performance is corporate governance, which is examined in this research, although some things such as issues related to auditing can also moderate this relationship; Therefore, this research has been conducted with the aim of investigating the relationship between corporate governance and financial performance with regard to the moderating role of feedback and internal control weakness. The research is practical in terms of purpose, and in terms of method, it has been done in a post-event descriptive manner, in which the data has been analyzed using stock market data. Data collection has been done by using stock exchange data which has been extracted from the website of the Iraqi Stock Exchange, the statistical population of this research is all the companies admitted to the Iraqi Stock Exchange. . The statistical sample in this research is considered from 2014 to 2021, which includes 34 companies. Four different models have been considered for the research hypotheses, which are eight hypotheses, in this research, the analysis has been done using EXCEL and STATA15 software. In this article, collinearity test, integration test ,determination of fixed effects and correlation matrix results, have been used. The research results showed that the first four hypotheses were rejected and the second four hypotheses were confirmed.

Keywords: size of the board of directors, duality of the CEO, financial performance, internal control weakness

Procedia PDF Downloads 76

Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

Abstract:

German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

Procedia PDF Downloads 123

Authors: Safa Ougoujil, Sidi Mohamed Rigar

Abstract:

Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: convergences, ethical finance, Islamic finance, potential development

Procedia PDF Downloads 182

Authors: Ishaq Ahmad, Zhaomin Li, Liu Chengwen, Song yan Li, Wang Lei, Zhoujie Wang, Zheng Lei

Abstract:

Because nanoparticles have the potential to improve foam stability, only a small amount of surfactant or polymer is required to control gas mobility in the reservoir. Numerous researches have revealed that this specific application is in use. The goal is to improve foam formation and foam stability. As a result, the foam stability and foam ability of black rice husk ash were investigated. By injecting N₂ gases into a core flood condition, black rice husk ash was used to produce stable foam. The properties of black rice husk ash were investigated using a variety of characterization techniques. The black rice husk ash was mixed with the best-performing anionic foaming surfactants at various concentrations (ppm). Sodium dodecyl benzene sulphonate was the anionic surfactant used (SDBS). In this article, the N₂ gas- black rice husk ash (BRHA) with high Silica content is shown to be beneficial for foam stability and foam ability. For the test, a 30 cm sand pack was prepared. For the experiment, N₂ gas cylinders and SDBS surfactant liquid cylinders were used. Two N₂ gas experiments were carried out: one without a sand pack and one with a sand pack and oil addition. The black rice husk and SDBS surfactant concentration was 0.5 percent. The high silica content of black rice husk ash has the potential to improve foam stability in sand pack conditions, which is beneficial. On N₂ foam, there is an increase in black rice husk ash particles, which may play an important role in oil recovery.

Keywords: black rice husk ash nanoparticle, surfactant, N₂ foam, sand pack

Procedia PDF Downloads 191

Authors: P. Efstathiou, E. Kouskouni, S. Papanikolaou, K. Karageorgou, Z. Manolidou, Tseroni Maria, A. Efstathiou, V. Karyoti, I. Agrafa

Abstract:

Aim: Aim of this study was to evaluate the reduction on Intensive Care Unit (ICU) microbial flora after the antimicrobial copper alloy (Cu+) implementation as well as the effect on financial-epidemiological operation parameters. Methods: Medical, epidemiological and financial data in two time periods, before and after the implementation of copper (Cu 63% - Zn 37%, low lead) were recorded and analyzed in a general ICU. The evaluated parameters were: the importance of patients' admission (Acute Physiology and Chronic Health Evaluation - APACHE II and Simplified Acute Physiology Score - SAPS), microbial flora's record in the ICU before and after the implementation of Cu+ as well as the impact on epidemiological and ICU's operation financial parameters. Results: During December 2010 and March 2011 and respectively during December 2011 and March 2012 comparative results showed statistically significant reduction on the microbial flora (CFU/ml) by 95% and the use of antimicrobial medicine (per day per patient) by 30% (p = 0,014) as well as patients hospitalization time and cost. Conclusions: The innovative implementation of antimicrobial copper in ICUs contributed to their microbial flora significant reduction and antimicrobial drugs use reduction with the apparent positive effect (decrease) in both patient’s hospitalization time and cost. Under the present circumstances of economic crisis, survey results are of highest importance and value.

Keywords: antimicrobial copper, financial benefits, ICU, cost reduction

Procedia PDF Downloads 455

Authors: Nurudeen O. Lasisi, Sirajo Abdulrahman, Abdulkareem A. Ibrahim

Abstract:

Newcastle disease is an infection of domestic poultry and other bird species with the virulent Newcastle disease virus (NDV). In this paper, we study the dynamics of the modeling of the Newcastle disease virus (NDV) using a novel quarantine-adjusted incidence. The comparison of Vaccination, linear incident rate and novel quarantine-adjusted incident rate in the models are discussed. The dynamics of the models yield disease-free and endemic equilibrium states.The effective reproduction numbers of the models are computed in order to measure the relative impact of an individual bird or combined intervention for effective disease control. We showed the local and global stability of endemic equilibrium states of the models and we found that the stability of endemic equilibrium states of models are globally asymptotically stable if the effective reproduction numbers of the models equations are greater than a unit.

Keywords: effective reproduction number, Endemic state, Mathematical model, Newcastle disease virus, novel quarantine-adjusted incidence, stability analysis

Procedia PDF Downloads 103

Authors: Mohd Salmi Md Noorani, Ghada Al-Mahbashi, Sakhinah Abu Bakar

Abstract:

This paper investigates projective lag synchronization (PLS) behavior in drive response dynamical networks (DRDNs) model with identical nodes. A hybrid feedback control method is designed to achieve the PLS with mismatch and without mismatch terms. The stability of the error dynamics is proven theoretically using the Lyapunov stability theory. Finally, analytical results show that the states of the dynamical network with non-delayed coupling can be asymptotically synchronized onto a desired scaling factor under the designed controller. Moreover, the numerical simulations results demonstrate the validity of the proposed method.

Keywords: drive-response dynamical network, projective lag synchronization, hybrid feedback control, stability theory

Procedia PDF Downloads 377

Authors: Othoman Elsayah, Naren Gupta, Binsheng Zhang

Abstract:

The construction sector constitutes one of the most important sectors in the economy of any country. Contractor selection is a critical decision that is undertaken by client organizations and is central to the success of any construction project. Contractor selection (CS) is a process which involves investigating, screening and determining whether candidate contractors have the technical and financial capability to be accepted to formally tender for construction work. The process should be conducted prior to the award of contract, characterized by many factors such as: contactor’s skills, experience on similar projects, track- record in the industry, and financial stability. However, this paper evaluates the current state of knowledge in relation to contractor selection process and demonstrates the findings from the analysis of the data collected from the Delphi questionnaire survey. The survey was conducted with a group of 12 experts working in the Libyan construction industry (LCI). The paper starts by briefly explaining the general outline of the questionnaire including the survey participation rate, the different fields the experts came from, and the business titles of the participants. Then, the paper describes the tests used to determine when the experts had reached consensus. The paper is based on research which aims to develop rank contractor selection criteria with specific application to make construction projects in the Libyan context. The findings of this study will be utilized to establish the scope of work that will be used as part of a PhD research.

Keywords: contractor selection, Libyan construction industry, decision experts, Delphi technique

Procedia PDF Downloads 321

Authors: Obinna Emmanuel Ezenkwa, Sani Amril Samsudin, Azman Hassan, Ede Anthony

Abstract:

A major challenge of polypropylene (PP) in high-heat application areas is its poor thermal stability. Under high temperature, PP burns readily with high degradation temperature and can self-ignite. In this study, PP is reinforced with hybrid filler of graphene (xGNP) and rice husk (RH) with RH at 15 wt%, and xGNP varied at 0.5, 1.0, 1.5, 2.0, 2.5, and 3.0 parts per hundred (phr) of the composite. Compatibilizer MAPP was also added in each sample at 4phr of the composite. Sample formulations were melt-blended using twin screw extruder and injection moulding machine. At xGNP optimum content of 1.5 phr, hybrid PP/RH/G1.5/MAPP nanocomposite increased in thermal stability by 24 °C and 30 °C compared to pure PP and unhybridized PP/RH composite respectively; char residue increased by 513% compared to pure PP and degree of crystallization (Xc) increased from 35.4% to 36.4%. The observed thermal properties enhancement in the hybrid nanocomposites can be related to the high surface area, gap-filling effect and exfoliation characteristics of the graphene nanofiller which worked in synergy with rice husk fillers in reinforcing PP. This study therefore, shows that graphene nanofiller inclusion in polymer composites fabrication can enhance the thermal stability of polyolefins for high heat applications.

Keywords: polymer nanocomposites, thermal stability, exfoliation, hybrid fillers, polymer reinforcement

Procedia PDF Downloads 16

Authors: Biruk Wolde Eremacho

Abstract:

The Kombolcha to Desse road, linking Addis Ababa with Northern Ethiopia towns traverses through one of the most difficult mountainous ranges in Ethiopia. The presence of loose unconsolidated materials (colluvium materials), highly weathered and fractured basalt rocks high relief, steep natural slopes, nature of geologic formations exposed along the road section, poor drainage conditions, occurrence of high seasonal rains, and seismically active nature of the region created favorable condition for slope instability in the area. Thus, keeping in mind all above points the present study was conceived to study in detail the slope stability condition of the area. It was realized that detailed slope stability studies along this road section are very necessary to identify critical slopes and to provide the best remedial measures to minimize the slope instability problems which frequently disrupt and endanger the traffic movement on this important road. For the present study based on the field manifestation of instability two most critical slope sections were identified for detailed slope stability analysis. The deterministic slope stability analysis approach was followed to perform the detailed slope stability analysis of the selected slope sections. Factor of safety for the selected slope sections was determined for the different anticipated conditions (i.e., static and dynamic with varied water saturations) using Slope/W and Slide software. Both static and seismic slope stability analysis were carried out and factor of safety was deduced for each anticipated conditions. In general, detailed slope stability analysis of the two critical slope sections reveals that for only static dry condition both the slopes sections would be stable. However, for the rest anticipated conditions defined by static and dynamic situations with varied water saturations both critical slope sections would be unstable. Moreover, the causes of slope instability in the study area are governed by different factors; therefore integrated approaches of remedial measures are more appropriate to mitigate the possible slope instability in the study area. Depending on site condition and slope stability analysis result four types of suitable preventive and remedial measures are recommended namely; proper managements of drainages, retaining structures, gabions, and managing steeply cut slopes.

Keywords: factor of safety, remedial measures, slope stability analysis, static and dynamic condition

Procedia PDF Downloads 263

Authors: K. Radha Krishnan, Mirajul Alom

Abstract:

Dehydrated powder prepared from fresh radish (Raphanus sativus) leaves were investigated for the color stability by different drying methods (tray, sun and solar). The effect of blanching conditions, drying methods as well as drying temperatures (50 – 90°C) were considered for studying the color degradation kinetics of chlorophyll in the dehydrated powder. The hunter color parameters (L*, a*, b*) and total color difference (TCD) were determined in order to investigate the color degradation kinetics of chlorophyll. Blanching conditions, drying method and drying temperature influenced the changes in L*, a*, b* and TCD values. The changes in color values during processing were described by a first order kinetic model. The temperature dependence of chlorophyll degradation was adequately modeled by Arrhenius equation. To predict the losses in green color, a mathematical model was developed from the steady state kinetic parameters. The results from this study indicated the protective effect of blanching conditions on the color stability of dehydrated radish powder.

Keywords: chlorophyll, color stability, degradation kinetics, drying

Procedia PDF Downloads 377

Authors: Qian Chen, Lin Xu, Ping Ju, Zhuoran Li, Yiping Yu, Yuqing Jin

Abstract:

The operation of power grid is becoming more and more complex and difficult due to its rapid development towards high voltage, long distance, and large capacity. For instance, many large-scale wind farms have connected to power grid, where their fluctuation and randomness is very likely to affect the stability and safety of the grid. Fortunately, many new-type equipments based on power electronics have been applied to power grid, such as UPFC (Unified Power Flow Controller), TCSC (Thyristor Controlled Series Compensation), STATCOM (Static Synchronous Compensator) and so on, which can help to deal with the problem above. Compared with traditional equipment such as generator, new-type controllable devices, represented by the FACTS (Flexible AC Transmission System), have more accurate control ability and respond faster. But they are too expensive to use widely. Therefore, on the basis of the comparison and analysis of the controlling characteristics between traditional control equipment and new-type controllable equipment in both time and space scale, a coordinated optimizing control method within mutil-time-space frame is proposed in this paper to bring both kinds of advantages into play, which can better both control ability and economical efficiency. Firstly, the coordination of different space sizes of grid is studied focused on the fluctuation caused by large-scale wind farms connected to power grid. With generator, FSC (Fixed Series Compensation) and TCSC, the coordination method on two-layer regional power grid vs. its sub grid is studied in detail. The coordination control model is built, the corresponding scheme is promoted, and the conclusion is verified by simulation. By analysis, interface power flow can be controlled by generator and the specific line power flow between two-layer regions can be adjusted by FSC and TCSC. The smaller the interface power flow adjusted by generator, the bigger the control margin of TCSC, instead, the total consumption of generator is much higher. Secondly, the coordination of different time sizes is studied to further the amount of the total consumption of generator and the control margin of TCSC, where the minimum control cost can be acquired. The coordination method on two-layer ultra short-term correction vs. AGC (Automatic Generation Control) is studied with generator, FSC and TCSC. The optimal control model is founded, genetic algorithm is selected to solve the problem, and the conclusion is verified by simulation. Finally, the aforementioned method within multi-time-space scale is analyzed with practical cases, and simulated on PSASP (Power System Analysis Software Package) platform. The correctness and effectiveness are verified by the simulation result. Moreover, this coordinated optimizing control method can contribute to the decrease of control cost and will provide reference to the following studies in this field.

Keywords: FACTS, multi-space-time frame, optimal control, TCSC

Procedia PDF Downloads 256

Authors: Nasser A. M. Habib

Abstract:

The impressive physical properties of graphene derivatives, including thermal properties, have made them an attractive addition to advanced construction nanomaterial. In this study, we investigated the impact of incorporating low amounts of graphene oxide (GO) into cement mixture nanocomposites on their heat storage and thermal stability. The composites were analyzed using Fourier transmission infrared, thermo-gravimetric analysis, and field emission scanning electron microscopy. Results showed that GO significantly improved specific heat by 30%, reduced thermal conductivity by 15%, and reduced thermal decomposition to only 3% at a concentration of 1.2 wt%. These findings suggest that the cement mixture can withstand high temperatures and may be suitable for specific applications requiring thermal stability and insulation properties.

Keywords: cement mixture composite, graphene oxide, thermal decomposition, thermal conductivity

Procedia PDF Downloads 47

Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

Abstract:

This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

Procedia PDF Downloads 265

Authors: Sudhir Kumar Singh, Debashish Chakravarty

Abstract:

Slope stability analysis is an important aspect in the field of geotechnical engineering. It is also important from safety, and economic point of view as any slope failure leads to loss of valuable lives and damage to property worth millions. This paper aims at mitigating the risk of slope failure by studying the effect of different joint sets on the stability of mine pit slopes under the influence of various external factors, namely degree of saturation, rainfall intensity, and seismic coefficients. Supervised machine learning approach has been utilized for making accurate and reliable predictions regarding the stability of slopes based on the value of Factor of Safety. Numerous cases have been studied for analyzing the stability of slopes using the popular Finite Element Method, and the data thus obtained has been used as training data for the supervised machine learning models. The input data has been trained on different supervised machine learning models, namely Random Forest, Decision Tree, Support vector Machine, and XGBoost. Distinct test data that is not present in training data has been used for measuring the performance and accuracy of different models. Although all models have performed well on the test dataset but Random Forest stands out from others due to its high accuracy of greater than 95%, thus helping us by providing a valuable tool at our disposition which is neither computationally expensive nor time consuming and in good accordance with the numerical analysis result.

Keywords: finite element method, geotechnical engineering, machine learning, slope stability

Procedia PDF Downloads 91

Authors: Mohammad Beyki, Justus Pawlak, Robert Patzke, Franz Renz

Abstract:

In the context of planetary exploration, the MIMOS II (miniaturized Mössbauer spectrometer) serves as a proven and reliable measuring instrument. The transmission behaviour of the electronics in the Mössbauer spectroscopy is newly developed and optimized. For this purpose, the overall electronics is split into three parts. This elaboration deals exclusively with the first part of the signal chain for the evaluation of photons in experiments with gamma radiation. Parallel to the analysis of the electronics, a new method for the stability consideration of linear and non-linear systems is presented: The extended method of Lyapunov’s stability criteria. The design helps to weigh advantages and disadvantages against other simulated circuits in order to optimize the MIMOS II for the terestric and extraterestric measurment. Finally, after stability analysis, the controller design according to Ackermann is performed, achieving the best possible optimization of the output variable through a skillful pole assignment.

Keywords: Mössbauer spectroscopy, electronic signal amplifier, light processing technology, photocurrent, trans-impedance amplifier, extended Lyapunov method

Procedia PDF Downloads 84

Authors: Reza Hosseinpourpia, Stergios Adamopoulos, Carsten Mai

Abstract:

Medium density fiberboard (MDF) is a common category of wood-based panels that are widely used in the furniture industry. Fine lignocellulosic fibres are combined with a synthetic resin, mostly urea formaldehyde (UF), and joined together under heat and pressure to form panels. Like solid wood, MDF is a hygroscopic material; therefore, its moisture content depends on the surrounding relative humidity and temperature. In addition, UF is a hydrophilic resin and susceptible to hydrolysis under certain conditions of elevated temperatures and humidity, which cause dimensional instability of the panels. The latter directly affect the performance of final products such as furniture, when they are used in situations of high relative humidity. Existing water-repellent formulations, such as paraffin, present limitations related to their non-renewable nature, cost and highest allowed added amount. Therefore, the aim of the present study was to test the suitability of renewable water repellents as alternative chemicals for enhancing the dimensional stability of MDF panels. A small amount of tall oil based formulations were used as water-repellent agents in the manufacturing of laboratory scale MDF. The effects on dimensional stability, internal bond strength and formaldehyde release of MDF were tested. The results indicated a good potential of tall oil as a bio-based substance of water repellent formulations for improving the dimensional stability of MDF.

Keywords: dimensional stability, medium density fiberboard, tall oil, urea formaldehyde

Procedia PDF Downloads 231

Authors: Nadim Zgheib, Sivaramakrishnan Balachandar

Abstract:

We present results on the initial formation of ripples from an initially flattened erodible bed. We use direct numerical simulations (DNS) of turbulent open channel flow over a fixed sinusoidal bed coupled with hydrodynamic stability analysis. We use the direct forcing immersed boundary method to account for the presence of the sediment bed. The resolved flow provides the bed shear stress and consequently the sediment transport rate, which is needed in the stability analysis of the Exner equation. The approach is different from traditional linear stability analysis in the sense that the phase lag between the bed topology, and the sediment flux is obtained from the DNS. We ran 11 simulations at a fixed shear Reynolds number of 180, but for different sediment bed wavelengths. The analysis allows us to sweep a large range of physical and modelling parameters to predict their effects on linear growth. The Froude number appears to be the critical controlling parameter in the early linear development of ripples, in contrast with the dominant role of particle Reynolds number during the equilibrium stage.

Keywords: direct numerical simulation, immersed boundary method, sediment-bed interactions, turbulent multiphase flow, linear stability analysis

Procedia PDF Downloads 169

Authors: Melissa James Maceachern

Abstract:

This study examines a financial aid program that is designed to “keep residents at home” to attend higher education by providing financial aid as an incentive or discount in their first year of university following high school graduation. This study offers insight into financial matters for higher education students that can assist in providing policy direction for student financing. In particular, this study found that students appeared to value the bursary but none of the key metrics related to participation or conversion to the home institution indicated that the bursary impacted enrolment or participation. One key metric, student loans received by direct entry high school students did indicate a decline in the number of recipients. This study also identified accessibility issues to higher education that are of importance when considering the declining youth populations, future labour market needs and the need to sustain higher education institutions. This is undoubtedly a challenging period of time given the changing social and demographic forces within Canada. A comprehensive examination of the policy and programs to address these forces needs to be undertaken. This study highlights the importance of utilizing financial aid in combination with other policy to assist students in accessing higher education.

Keywords: accessibility, participation, financing, government

Procedia PDF Downloads 409

Authors: C. E. Madubueze, S. C. Madubueze, S. Ajama

Abstract:

Cholera is a disease that is predominately common in developing countries due to poor sanitation and overcrowding population. In this paper, a deterministic model for the dynamics of cholera is developed and control measures such as health educational message, therapeutic treatment, and vaccination are incorporated in the model. The effective reproduction number is computed in terms of the model parameters. The existence and stability of the equilibrium states, disease free and endemic equilibrium states are established and showed to be locally and globally asymptotically stable when R0 < 1 and R0 > 1 respectively. The existence of backward bifurcation of the model is investigated. Furthermore, numerical simulation of the model developed is carried out to show the impact of the control measures and the result indicates that combined control measures will help to reduce the spread of cholera in the population

Keywords: backward bifurcation, cholera, equilibrium, dynamics, stability

Procedia PDF Downloads 423

Authors: Batool Zarei

Abstract:

This study aims to answer this question whether control criterion with two elements of power and benefit which is introduced as 'control criterion of consolidation scope' in national and international standards of accounting in public sector (and also private sector) is efficient enough or not. The methodology of this study is comparative and the results of this research are significantly generalizable, due to the given importance to the sample of countries which were studied. Findings of this study states that in spite of pervasive use of control criterion (including 2 elements of power and benefit), criteria for determining the existence of control in public sector accounting standards, are not efficient enough to determine the consolidation scope of whole of government financial statements in a way that meet decision making and accountability needs of managers, policy makers and supervisors; specially parliament. Therefore, the researcher believes that for determining consolidation scope in public sector, in addition to economic view, it is better to pay attention to budgetary, legal and statistical concepts and also to practical and financial risk and define indicators for proving the existence of control (power and benefit) which include accountability relationships (budgetary relation, legal form and nature of activity). these findings also reveals the necessity of passing a comprehensive public financial management (PFM) legislation in order to redefine the characteristics of public sector entities and whole of government financial statements scope and review Statistics organizations and central banks duties for preparing government financial statistics and national accounts in order to achieve sustainable development and resilient economy goals.

Keywords: control, consolidation scope, public sector accounting, government financial statistics, resilient economy

Procedia PDF Downloads 249

Authors: Martin Bugeja, Helen Spiropolos

Abstract:

Using a sample of U.S. firms during the period 1993-2015, this study examines whether mergers and acquisitions (M&A) impact the compensation of the Chief Financial Officer (CFO) in the bidding and integration phases of M&As. The study finds that after controlling for CEO power, CFOs’ total compensation is higher during M&A years and is driven by higher equity incentives. These results are robust to controlling for self-selection. Furthermore, CFOs receive a greater bonus during the year of acquisition and the year prior. The study also investigates if CFO compensation during M&A years is driven by M&A characteristics and finds that deal size and diversification are positively related to total compensation while completion time is negatively related. The results are robust to a number of sensitivity tests and additional analyses.

Keywords: chief financial officer, compensation, mergers, acquisitions

Procedia PDF Downloads 49