Search results for: spot price volatility

Authors: N. Hatraf, L. Merabti, Z. Neffah, W. Taane

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The excessive consumption of fossil energies (electrical energy) during summer caused by the technological development involves more and more climate warming. In order to reduce the worst impact of gas emissions produced from classical air conditioning, heat driven solar absorption chiller is pretty promising; it consists on using solar as motive energy which is clean and environmentally friendly to provide cold. Solar absorption machine is composed by four components using Lithium Bromide /water as a refrigerating couple. LiBr- water is the most promising in chiller applications due to high safety, high volatility ratio, high affinity, high stability and its high latent heat. The lithium bromide solution is constitute by the salt lithium bromide which absorbs water under certain conditions of pressure and temperature however if the concentration of the solution is high in the absorption chillers; which exceed 70%, the solution will crystallize. The main aim of this article is to study the phenomena of the crystallization and to evaluate how the dependence between the electric conductivity and the concentration which should be controlled.

Keywords: absorption, crystallization, experimental results, lithium bromide solution

Procedia PDF Downloads 310

Authors: C. Nathanailides, P. Logothetis, G. Kanlis S. Anastasiou, L. Kokokiris, P. Mpeza

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Farmed Red porgy (Pagrus pagrus) is one of the “new candidate fish species” for the diversification of Mediterranean aquaculture which is predomintly based on the cultivation of the European sea bass, (Dicenfrarchus labrax), and the gilthead sea bream, (Sparus aurata). The quality of farmed red porgy (Pagrus pagrus) was investigated with samples obtained from the local fish market in the region of Igoumenitsa, NW Greece. Sample of the fish (ungutted and with scales) were purchased from three local fish mongers and transported to the laboratory within few minutes in foamed polystyrene boxes in ice. The average weight of whole fish ranged between 271-289g. A sample of the fish flesh taken from the upper epaxial region was transferred aseptically to a stomacher bag containing sterile Buffered Peptone Water solution (0.1%) and homogenized. After serial dilutions in 0.1% peptone water, the homogenates were spread on the surface of agar plates. Total viable counts (TVC) were determined using plate count agar after incubation at 30 oC for 3 days. The quality attributes monitored during the present work included bacterial load (total mesophilic) and the pH of the flesh. There was a marginal increase in the price of fresh red porgy sold during the summer time, with prices ranging, over a period of four seasons, from 5.85 to 7.5 per kilo. The results of the microbiological analysis indicate that with the exception of summer samples (which exhibited 5.23 (±0.13) log cfu/g), the bacterial load remained well below the legal limits and was around 3.1 log cfu/g. The pH values varied between 6.54 and 6.69. The results indicate a possible influence of season on the bacterial load of fish sold in the market. Nevertheless, the parameters investigated in the present work indicate that the bacteria load was well below the legal limit and that fish were sold within few days after harvesting. The peak of bacterial load in the summer samples may be a result of a post-harvesting contamination of the farmed fish and temperature fluctuations during handling and transportation.

Keywords: fish quality, marketing, aquaculture, Pagrus pagrus

Procedia PDF Downloads 683

Authors: Mehmet Şimşek

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In the rapidly changing market conditions, it is getting harder to survive without adapting new abilities. Technology and globalization have enabled foreign producers to enter into national markets, even local ones. For this reason there is now big competition among production companies for market share. Furthermore, competition has provided customer with broad range of options to choose from. To be able to survive in this environment, companies need to produce at low price and at high quality. The best way to succeed this is the efficient use of supply chain management that has started to get shaped by the needs of customers and the environment.

Keywords: cycle time, logistics, outsourcing, production, supply chain

Procedia PDF Downloads 483

Authors: Guo Bingkun

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With the rapid development of China's social economy and the continuous improvement of urbanization level, people's living standards have undergone tremendous changes, and more and more people are gathering in cities. The demand for urban residents' housing has been greatly released in the past decade. The demand for housing and related construction land required for urban development has brought huge pressure to urban operations, and land prices have also risen rapidly in the short term. On the other hand, from the comparison of the eastern and western regions of China, there are also great differences in urban socioeconomics and land prices in the eastern, central and western regions. Although judging from the current overall market development, after more than ten years of housing market reform and development, the quality of housing and land use efficiency in Chinese cities have been greatly improved. However, the current contradiction between land demand for urban socio-economic development and land supply, especially the contradiction between land supply and demand for urban residential land, has not been effectively alleviated. Since land is closely linked to all aspects of society, changes in land prices will be affected by many complex factors. Therefore, this paper studies the factors that may affect urban residential land prices and compares them among eastern, central and western cities, and finds the main factors that determine the level of urban residential land prices. This paper provides guidance for urban managers in formulating land policies and alleviating land supply and demand. It provides distinct ideas for improving urban planning and improving urban planning and promotes the improvement of urban management level. The research in this paper focuses on residential land prices. Generally, the indicators for measuring land prices mainly include benchmark land prices, land price level values, parcel land prices, etc. However, considering the requirements of research data continuity and representativeness, this paper chooses to use residential land price level values. Reflects the status of urban residential land prices. First of all, based on the existing research at home and abroad, the paper considers the two aspects of land supply and demand and, based on basic theoretical analysis, determines some factors that may affect urban housing, such as urban expansion, taxation, land reserves, population, and land benefits. Factors of land price and correspondingly selected certain representative indicators. Secondly, using conventional econometric analysis methods, we established a model of factors affecting urban residential land prices, quantitatively analyzed the relationship and intensity of influencing factors and residential land prices, and compared the differences in the impact of urban residential land prices between the eastern, central and western regions. Compare similarities. Research results show that the main factors affecting China's urban residential land prices are urban expansion, land use efficiency, taxation, population size, and residents' consumption. Then, the main reason for the difference in residential land prices between the eastern, central and western regions is the differences in urban expansion patterns, industrial structures, urban carrying capacity and real estate development investment.

Keywords: urban housing, urban planning, housing prices, comparative study

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Authors: Maurice Bilioniere, Katie Lanneau

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Suddenly appeared in 2011, invasions of sargasso seaweeds Fluitans and Natans are a climatic hazard which causes many problems in the Caribbean. Faced with the growth and frequency of the phenomenon of massive sargasso stranding on their coasts, the French West Indies are moving towards the path of industrial recovery. In this context of innovative projects, we will analyze the necessary requirements for the management and performance of the supply chain, taking into account the observed volatility of the sargasso input. Our prospective approach will consist in studying the theoretical framework of modeling a hybrid supply chain by coupling the discreet event simulation (DES) with a valuation of the process costs according to the "activity-based costing" method (ABC). The PREVA approach (PRocess EVAluation) chosen for our modeling has the advantage of evaluating the financial flows of the logistic process using an analytical model chained with an action model for the evaluation or optimization of physical flows.

Keywords: sargasso, PREVA modeling, supply chain, ABC method, discreet event simulation (DES)

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Authors: Vikrant Gupta, Amrit Goswami

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

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

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Authors: Cecilia Espindola, Juan Carlos Palacios

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Flavonoids are a large group of natural compounds which are found in many fruits and vegetables. A subgroup of these called flavanones display a wide range of biological activities, and they also have an important physiological role in plants. The ionic liquid (ILs) are compounds consisting of an organic cation with an organic or inorganic anion. Due to its unique properties such as high electrical conductivity, wide temperature range of the liquid state, thermal and electrochemical stability, high ionic density and low volatility and flammability, are considered as ecological solvents in organic synthesis, catalysis, electrolytes in accumulators, and electrochemistry, non-volatile plasticizers, and chemical separation. It was synthesized ionic liquid IL 1-butyl-3-methylimidazolium bromide free-solvent and used as reaction medium for flavanones synthesis, under several reaction conditions of temperature, time and production. The obtained compounds were analyzed by melting point, elemental analysis, IR and UV-vis spectroscopy.

Keywords: 1-butyl-3-methylimidazolium bromide, flavonoids, free-solvent, IR spectroscopy

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Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

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Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: flash crash, market crash, stock market, stock market crash

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Authors: Athena Nguyen, Rojin Belganeh

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Detecting and identifying differences in like polymer materials are key factors in failure and deformulation analysis, and reverse engineering. Pyrolysis-GC/MS is an easy solid sample introduction technique which expands the application areas of gas chromatography and mass spectrometry. The Micro furnace pyrolyzer is directly interfaced with the GC injector preventing any potential of cold spot, carryover, and cross contamination. In this presentation, the analysis of the differences in three polystyrene samples is demonstrated. Although the three samples look very similar by Evolve gas analysis (EGA) and Flash pyrolysis, there are indications of small levels of other materials. By performing Thermal desorption-GC/MS, the additive compounds between samples show the differences. EGA, flash pyrolysis, and thermal desorption analysis are the different modes of operations of the micro-furnace pyrolyzer enabling users to perform multiple analytical techniques.

Keywords: Gas chromatography/Mass spectrometry, pyrolysis, pyrolyzer, thermal desorption-GC/MS

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Authors: Dchieche Amina, Aboulaich Rajae

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In this work, we will modelize Waad Bil Mourabaha contract. This islamic contract provides the right to buy goods at a future date with a Mourabaha. Waad is a promise of sale or purchase of goods, declared in a unilateral way. In spite of the divergence between some schools of Islamic law about the Waad, this contract will allow us to study sophisticated and interesting contract: Waad Bil Mourabaha that can be used for hedging. In order to price Waad Bil Mourabaha contract, we will use an adapted Black and Scholes model using the Shariah compliant assumptions.

Keywords: Islamic finance, Black-Scholes model, call option, risks, hedging

Procedia PDF Downloads 508

Authors: K. N. Seetharamu, Naveen Teggi, Kiranakumar Dhavalagi, Narayana Kamath

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A method of temperature calculations is developed to study the conditions leading to hot spot occurrence on multicore chips. A physical model which has salient features of multicore chips is incorporated for the analysis. The model consists of active and background cell laid out in a checkered pattern, and this pattern repeats itself in each fine grain active cells. The die has three layers i) body ii) buried oxide layer iii) wiring layer, stacked one above the other with heat source placed at the interface between wiring and buried oxide layer. With this model we propose analytical method to calculate the target hotspot temperature, heat flow to top and bottom layers of the die and thermal resistance components at each granularity level, assuming appropriate values of die dimensions and parameters. Finally we attempt to find an easier method for the calculation of the target hotspot temperature using graph.

Keywords: checkered pattern, granularity level, heat conduction, multicore chips, target hotspot temperature

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Authors: Mohkammad Nur Cahyadi, Imam Wahyu Farid, Ronny Mardianto, Agung Budi Cahyono, Eko Yuli Handoko, Daud Wahyu Imani, Arizal Bawazir, Luki Adi Triawan

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Unmanned aerial vehicle (UAV) technology has cost efficiency and data retrieval time advantages. Using technologies such as UAV, GNSS, and LiDAR will later be combined into one of the newest technologies to cover each other's deficiencies. This integration system aims to increase the accuracy of calculating the volume of the land stockpile of PT. Garam (Salt Company). The use of UAV applications to obtain geometric data and capture textures that characterize the structure of objects. This study uses the Taror 650 Iron Man drone with four propellers, which can fly for 15 minutes. LiDAR can classify based on the number of image acquisitions processed in the software, utilizing photogrammetry and structural science principles from Motion point cloud technology. LiDAR can perform data acquisition that enables the creation of point clouds, three-dimensional models, Digital Surface Models, Contours, and orthomosaics with high accuracy. LiDAR has a drawback in the form of coordinate data positions that have local references. Therefore, researchers use GNSS, LiDAR, and drone multi-sensor technology to map the stockpile of salt on open land and warehouses every year, carried out by PT. Garam twice, where the previous process used terrestrial methods and manual calculations with sacks. Research with LiDAR needs to be combined with UAV to overcome data acquisition limitations because it only passes through the right and left sides of the object, mainly when applied to a salt stockpile. The UAV is flown to assist data acquisition with a wide coverage with the help of integration of the 200-gram LiDAR system so that the flying angle taken can be optimal during the flight process. Using LiDAR for low-cost mapping surveys will make it easier for surveyors and academics to obtain pretty accurate data at a more economical price. As a survey tool, LiDAR is included in a tool with a low price, around 999 USD; this device can produce detailed data. Therefore, to minimize the operational costs of using LiDAR, surveyors can use Low-Cost LiDAR, GNSS, and UAV at a price of around 638 USD. The data generated by this sensor is in the form of a visualization of an object shape made in three dimensions. This study aims to combine Low-Cost GPS measurements with Low-Cost LiDAR, which are processed using free user software. GPS Low Cost generates data in the form of position-determining latitude and longitude coordinates. The data generates X, Y, and Z values to help georeferencing process the detected object. This research will also produce LiDAR, which can detect objects, including the height of the entire environment in that location. The results of the data obtained are calibrated with pitch, roll, and yaw to get the vertical height of the existing contours. This study conducted an experimental process on the roof of a building with a radius of approximately 30 meters.

Keywords: LiDAR, unmanned aerial vehicle, low-cost GNSS, contour

Procedia PDF Downloads 96

Authors: André Python

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To this day, terrorism persists as a worldwide threat, exemplified by the recent deadly attacks in January 2015 in Paris and the ongoing massacres perpetrated by ISIS in Iraq and Syria. In response to this threat, states deploy various counterterrorism measures, the cost of which could be reduced through effective preventive measures. In order to increase the efficiency of preventive measures, policy-makers may benefit from accurate predictive models that are able to capture the complex spatial dynamics of terrorism occurring at a local scale. Despite empirical research carried out at country-level that has confirmed theories explaining the diffusion processes of terrorism across space and time, scholars have failed to assess diffusion’s theories on a local scale. Moreover, since scholars have not made the most of recent statistical modelling approaches, they have been unable to build up predictive models accurate in both space and time. In an effort to address these shortcomings, this research suggests a novel approach to systematically assess the theories of terrorism’s diffusion on a local scale and provide a predictive model of the local spatial dynamics of terrorism worldwide. With a focus on the lethal terrorist events that occurred after 9/11, this paper addresses the following question: why and how does lethal terrorism diffuse in space and time? Based on geolocalised data on worldwide terrorist attacks and covariates gathered from 2002 to 2013, a binomial spatio-temporal point process is used to model the probability of terrorist attacks on a sphere (the world), the surface of which is discretised in the form of Delaunay triangles and refined in areas of specific interest. Within a Bayesian framework, the model is fitted through an integrated nested Laplace approximation - a recent fitting approach that computes fast and accurate estimates of posterior marginals. Hence, for each location in the world, the model provides a probability of encountering a lethal terrorist attack and measures of volatility, which inform on the model’s predictability. Diffusion processes are visualised through interactive maps that highlight space-time variations in the probability and volatility of encountering a lethal attack from 2002 to 2013. Based on the previous twelve years of observation, the location and lethality of terrorist events in 2014 are statistically accurately predicted. Throughout the global scope of this research, local diffusion processes such as escalation and relocation are systematically examined: the former process describes an expansion from high concentration areas of lethal terrorist events (hotspots) to neighbouring areas, while the latter is characterised by changes in the location of hotspots. By controlling for the effect of geographical, economical and demographic variables, the results of the model suggest that the diffusion processes of lethal terrorism are jointly driven by contagious and non-contagious factors that operate on a local scale – as predicted by theories of diffusion. Moreover, by providing a quantitative measure of predictability, the model prevents policy-makers from making decisions based on highly uncertain predictions. Ultimately, this research may provide important complementary tools to enhance the efficiency of policies that aim to prevent and combat terrorism.

Keywords: diffusion process, terrorism, spatial dynamics, spatio-temporal modeling

Procedia PDF Downloads 351

Authors: Tchapo Tchaga Sophia, Cai Chun

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This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.

Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price

Procedia PDF Downloads 59

Authors: Michael N. O'Sullivan, Con Sheahan

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

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

Procedia PDF Downloads 136

Authors: Hoyeon Park, Yunhwan Keon, Kyoung-Jae Kim

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Location Based Social Network services (LBSNs) is a new term that combines location based service and social network service (SNS). Unlike traditional SNS, LBSNs emphasizes empirical elements in the user's actual physical location. Point-of-Interest (POI) is the most important factor to implement LBSNs recommendation system. POI information is the most popular spot in the area. In this study, we would like to recommend POI to users in a specific area through recommendation system using collaborative filtering. The process is as follows: first, we will use different data sets based on Seoul and New York to find interesting results on human behavior. Secondly, based on the location-based activity information obtained from the personalized LBSNs, we have devised a new rating that defines the user's preference for the area. Finally, we have developed an automated rating algorithm from massive raw data using distributed systems to reduce advertising costs of LBSNs.

Keywords: location-based social network services, point-of-interest, recommender systems, business analytics

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Authors: Ting (Grace) Lin, Jianhong (Cecilia) Xia, Todd Robinson

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Accessibility analysis, examining people’s ability to access facilities and destinations, is a fundamental assessment for transport planning, policy making, and social exclusion research. Dynamic accessibility which measures accessibility in real-time traffic environment has been an advanced accessibility indicator in transport research. It is also a useful indicator to help travelers to understand travel time daily variability, assists traffic engineers to monitor traffic congestions, and finally develop effective strategies in order to mitigate traffic congestions. This research involved real-time traffic information by collecting travel time data with 15-minute interval via the TomTom^® API. A framework for measuring dynamic accessibility was then developed based on the gravity theory and accessibility dichotomy theory through space and time interpolation. Finally, the dynamic accessibility can be derived at any given time and location under dynamic accessibility spatial analysis framework.

Keywords: dynamic accessibility, hot spot, transport research, TomTom® API

Procedia PDF Downloads 392

Authors: Pin-Wei Chiang, Wen-Liang Chang, Ruey-Huei Yeh

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This paper investigates optimal replacement and preventative maintenance policies of secondhand products under a Finite Planning Horizon (FPH). Any consumer wishing to replace their product under FPH would have it undergo minimal repairs. The replacement provided would be required to undergo periodical preventive maintenance done to avoid product failure. Then, a mathematical formula for disbursement cost for products under FPH can be derived. Optimal policies are then obtained to minimize cost. In the first of two segments of the paper, a model for initial product purchase of either new or secondhand products is used. This model is built by analyzing product purchasing price, surplus value of product, as well as the minimal repair cost. The second segment uses a model for replacement products, which are also secondhand products with no limit on usage. This model analyzes the same components as the first as well as expected preventative maintenance cost. Using these two models, a formula for the expected final total cost can be developed. The formula requires four variables (optimal preventive maintenance level, preventive maintenance frequency, replacement timing, age of replacement product) to find minimal cost requirement. Based on analysis of the variables using the expected total final cost model, it was found that the purchasing price and length of ownership were directly related. Also, consumers should choose the secondhand product with the higher usage for replacement. Products with higher initial usage upon acquisition require an earlier replacement schedule. In this case, replacements should be made with a secondhand product with less usage. In addition, preventative maintenance also significantly reduces cost. Consumers that plan to use products for longer periods of time replace their products later. Hence these consumers should choose the secondhand product with lesser initial usage for replacement. Preventative maintenance also creates significant total cost savings in this case. This study provides consumers with a method of calculating both the ideal amount of usage of the products they should purchase as well as the frequency and level of preventative maintenance that should be conducted in order to minimize cost and maintain product function.

Keywords: finite planning horizon, second hand product, replacement, preventive maintenance, minimal repair

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Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit

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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.

Keywords: central bank independence, inflation, macroeconomic variables, price stability

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Authors: Marylene S. Eder

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Existing location based alarm applications has inability to give information to user’s particular direction to a specified place of destination and does not display a particular scenic spot from its current location going to the destination. With this problem, a location based alarm mobile reminder was developed. The application is implemented on Android based smart phones to provide services like providing routing information, helping to find nearby hotels, restaurants and scenic spots and offer many advantages to the mobile users to retrieve the information about their current location and process that data to get more useful information near to their location. It reminds the user about the location when the user enters some predefined location. All the user needs to have is the mobile phone with android platform with version 4.0 and above, and then the user can select the destination and find the destination on the application. The main objective of the project is to develop a location based application that provides tourists with real time information for scenic spots and provides alarm to a specified place of destination. This mobile application service will act as assistance for the frequent travelers to visit new places around the City.

Keywords: location based alarm, mobile application, mobile reminder, tourist’s spots

Procedia PDF Downloads 382

Authors: R. G. Ariyawansa, M. A. N. R. M. Perera

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“House” is a powerful symbol of socio-economic background of individuals and families. In fact, housing provides all types of needs/wants from basic needs to self-actualization needs. This phenomenon can be realized only having analyzed hidden motives of buyers and sellers of the housing market. Hence, the aim of this study is to examine the socio-economic insight of the secondary housing market in Colombo suburbs. This broader aim was achieved via analyzing the general pattern of the secondary housing market, identifying socio-economic motives of sellers of the secondary housing market, and reviewing sellers’ experience of buyer behavior. A purposive sample of 50 sellers from popular residential areas in Colombo such as Maharagama, Kottawa, Piliyandala, Punnipitiya, and Nugegoda was used to collect primary data instead of relevant secondary data from published and unpublished reports. The sample was limited to selling price ranging from Rs15 million to Rs25 million, which apparently falls into middle and upper-middle income houses in the context. Participatory observation and semi-structured interviews were adopted as key data collection tools. Data were descriptively analyzed. This study found that the market is mainly handled by informal agents who are unqualified and unorganized. People such as taxi/tree-wheel drivers, boutique venders, security personals etc. are engaged in housing brokerage as a part time career. Few fulltime and formally organized agents were found but they were also not professionally qualified. As far as housing quality is concerned, it was observed that 90% of houses was poorly maintained and illegally modified. They are situated in poorly maintained neighborhoods as well. Among the observed houses, 2% was moderately maintained and 8% was well maintained and modified. Major socio-economic motives of sellers were “migrating foreign countries for education and employment” (80% and 10% respectively), “family problems” (4%), and “social status” (3%). Other motives were “health” and “environmental/neighborhood problems” (3%). This study further noted that the secondary middle income housing market in the area directly related with the migrants who motivated for education in foreign countries, mainly Australia, UK and USA. As per the literature, families motivated for education tend to migrate Colombo suburbs from remote areas of the country. They are seeking temporary accommodation in lower middle income housing. However, the secondary middle income housing market relates with the migration from Colombo to major global cities. Therefore, final transaction price of this market may depend on migration related dates such as university deadlines, visa and other agreements. Hence, it creates a buyers’ market lowering the selling price. Also it was revealed that the buyers tend to trust more on this market as far as the quality of construction of houses is concerned than brand new houses which are built for selling purpose.

Keywords: informal housing market, hidden motives of buyers and sellers, secondary housing market, socio-economic insight

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Authors: Salman Mohamadi, Seyed Mohammad Ali Tayaranian Hosseini, Hamidreza Amindavar

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In this paper, we provide a procedure to analyze and model EEG (electroencephalogram) signal as a time series using ARIMA-GARCH to predict an epileptic attack. The heteroskedasticity of EEG signal is examined through the ARCH or GARCH, (Autore- gressive conditional heteroskedasticity, Generalized autoregressive conditional heteroskedasticity) test. The best ARIMA-GARCH model in AIC sense is utilized to measure the volatility of the EEG from epileptic canine subjects, to forecast the future values of EEG. ARIMA-only model can perform prediction, but the ARCH or GARCH model acting on the residuals of ARIMA attains a con- siderable improved forecast horizon. First, we estimate the best ARIMA model, then different orders of ARCH and GARCH modelings are surveyed to determine the best heteroskedastic model of the residuals of the mentioned ARIMA. Using the simulated conditional variance of selected ARCH or GARCH model, we suggest the procedure to predict the oncoming seizures. The results indicate that GARCH modeling determines the dynamic changes of variance well before the onset of seizure. It can be inferred that the prediction capability comes from the ability of the combined ARIMA-GARCH modeling to cover the heteroskedastic nature of EEG signal changes.

Keywords: epileptic seizure prediction , ARIMA, ARCH and GARCH modeling, heteroskedasticity, EEG

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Authors: T. C. C. Soo, S. Bhassu

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Unlike the common presence of both innate and adaptive immunity in vertebrates, crustaceans, in particular, shrimps, have been discovered to possess only innate immunity. This further emphasizes the importance of innate immunity within shrimps in pathogenic resistance. Under the study of pathogenic immune challenge, different shrimp species actually exhibit varying degrees of immune resistance towards the same pathogen. Furthermore, even within the same shrimp species, different batches of challenged shrimps can have different strengths of immune defence. Several important pathways are activated within shrimps during pathogenic infection. One of them is JAK-STAT pathway that is activated during bacterial, viral and fungal infections by which STAT(Signal Transducer and Activator of Transcription) gene is the core element of the pathway. Based on theory of Central Dogma, the genomic information is transmitted in the order of DNA, RNA and protein. This study is focused in uncovering the important evolutionary patterns present within the DNA (non-coding region) and RNA (coding region). The three shrimp species involved are Macrobrachium rosenbergii, Penaeus monodon and Litopenaeus vannamei which all possess commercial significance. The shrimp species were challenged with a famous penaeid shrimp virus called white spot syndrome virus (WSSV) which can cause serious lethality. Tissue samples were collected during time intervals of 0h, 3h, 6h, 12h, 24h, 36h and 48h. The DNA and RNA samples were then extracted using conventional kits from the hepatopancreas tissue samples. PCR technique together with designed STAT gene conserved primers were utilized for identification of the STAT coding sequences using RNA-converted cDNA samples and subsequent characterization using various bioinformatics approaches including Ramachandran plot, ProtParam and SWISS-MODEL. The varying levels of immune STAT gene activation for the three shrimp species during WSSV infection were confirmed using qRT-PCR technique. For one sample, three biological replicates with three technical replicates each were used for qRT-PCR. On the other hand, DNA samples were important for uncovering the structural variations within the genomic region of STAT gene which would greatly assist in understanding the STAT protein functional variations. The partially-overlapping primers technique was used for the genomic region sequencing. The evolutionary inferences and event predictions were then conducted through the Bayesian Inference method using all the acquired coding and non-coding sequences. This was supplemented by the construction of conventional phylogenetic trees using Maximum likelihood method. The results showed that adaptive evolution caused STAT gene sequence mutations between different shrimp species which led to evolutionary divergence event. Subsequently, the divergent sites were correlated to the differing expressions of STAT gene. Ultimately, this study assists in knowing the shrimp species innate immune variability and selection of disease resistant shrimps for breeding purpose. The deeper understanding of STAT gene evolution from the perspective of both purifying and adaptive approaches not only can provide better immunological insight among shrimp species, but also can be used as a good reference for immunological studies in humans or other model organisms.

Keywords: gene evolution, JAK-STAT pathway, immunology, STAT gene

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Authors: A. W. Chalmers, O. M. van den Broek

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This article examines the relationship between the global financial crisis and corporate social responsibility activities of financial services firms. It challenges the general consensus in existing studies that firms, when faced with economic hardship, tend to jettison CSR commitments. Instead, and building on recent insights into the institutional determinants of CSR, it is argued that firms are constrained in their ability to abandon CSR by the extent to which they are subject to intense public scrutiny by regulators and the news media. This argument is tested in the context of the European sovereign debt crisis drawing on a unique dataset of 170 firms in 15 different countries over a six-year period. Controlling for a battery of alternative explanations and comparing financial service providers to firms operating in other economic sectors, results indicate considerable evidence supporting the main argument. Rather than abandoning CSR during times of economic hardship, financial industry firms ramp up their CSR commitments in order to manage their public image and foster public trust in light of intense public scrutiny.

Keywords: corporate social responsibility (CSR), public scrutiny, global financial crisis, financial services firms

Procedia PDF Downloads 307

Authors: Anne Y. Faxer, Ellen Olausson, Jens Hagman, Ana Magazinius, Jenny J. Stier, Tommy Fransson, Oscar Enerback

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While electric vehicles (both battery electric vehicles and plug-in hybrids) have been on the market for around 6 years, they are still far from mainstream and the knowledge of them is still low among the public. This is likely one of the reasons that Sweden, having one of the highest penetrations of electric vehicles in Europe, still has a long way to go in reaching a fossil free vehicle fleet. Car dealerships are an important medium that connects consumers to vehicles, but somehow, their role in introducing electric vehicles has not yet been thoroughly studied. Research from other domains shows that salespeople can affect customer decisions in their choice of products. The aim of this study is to explore the role of car dealerships when it comes to promoting electric vehicles. The long-term goal is to understand how they could be a key in the effort of achieving a mass introduction of electric vehicles in Sweden. By emulating the customer’s experience, this study investigates the interaction between car salespeople and customers, particularly examining whether they present electric vehicles as viable options. Covert participatory observations were conducted for data collection from four different brands at in total twelve car dealers. The observers worked in pairs and played the role of a customer with needs that could be matched by an electric vehicle. The data was summarized in observation protocols and analyzed using thematic coding. The result shows that only one of twelve salespeople offered an electric vehicle as the first option. When environmental factors were brought up by the observers, the salespeople followed up with lower fuel consumption internal combustion engine vehicles rather than suggesting an electric vehicle. All salespeople possessed at least basic knowledge about electric vehicles but their interest of selling them were low in most cases. One of the reasons could be that the price of electric vehicles is usually higher. This could be inferred from the finding that salespeople tend to have a strong focus on price and economy in their dialogues with customers, regardless which type of car they were selling. In conclusion, the study suggests that car salespeople have the potential to help the market to achieve mass introduction of electric vehicles; however, their potential needs to be exploited further. To encourage salespeople to prioritize electric vehicles in the sales process, right incentives need to be in place.

Keywords: car dealerships, covert participatory observation, customer perspective , electric vehicle, market penetration

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Authors: Sylvain Fauveaux, T. Nowicki

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Lightning protection is nowadays applied worldwide since the advent of international standards. Lightning protection is widely justified by the casualties and damages involved. As a matter of fact, the lightning business is constantly growing as more and more sensible areas need to be protected. However, the worldwide demand of copper materiel is increasing as well, its price too. Furthermore, the most frequently used method of protection is consuming a lot of copper. The copper production is also consuming a large amount of natural and power resources, not to mention the ecologic balance.

Keywords: ESEAT, Lightning protection , natural resources management, NF C 17-102, sustainable development

Procedia PDF Downloads 161

Authors: Georg Brunnthaller, Sandra Stein, Wilfried Sihn

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Logistics service providers are facing increasing volatility concerning future transport demand. Short-term planning horizons and planning uncertainties lead to reduced capacity utilisation and increasing empty mileage. To overcome these challenges, a model is proposed to continuously pre-plan future transport capacity in order to redesign and adjust the intermodal fleet accordingly. It is expected that the model will enable logistics service providers to organise more economically and ecologically sustainable transport chains in a more flexible way. To further describe such planning aspects, this paper gives a structured literature review on transport planning problems. The focus is on strategic and tactical planning levels, comprising relevant fleet-sizing-, network-design- and choice-of-carriers-problems. Models and their developed solution techniques are presented and the literature review is concluded with an outlook to our future research objectives

Keywords: choice of transport mode, fleet-sizing, freight transport planning, multimodal, review, service network design

Procedia PDF Downloads 365

Authors: Luzie Krings

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The electrification of the transport sector is increasingly recognized as a vital strategy for decarbonization. However, integrating electric vehicles (EVs) into the energy grid poses challenges due to decentralized power units and the intermittent nature of renewable energy sources. Vehicle-to-grid (V2G) technology offers a compelling solution by enabling EVs to function as mobile storage units, providing system services, reducing grid congestion, and offering economic incentives. This potential is particularly significant in freight transport, which accounts for 38% of transport-related emissions. The aggregated use of energy storage in this sector can facilitate grid stability and renewable energy integration. Despite this, existing optimization methods for energy markets frequently overlook operational constraints, such as fixed schedules and state-of-charge requirements, while redispatch markets remain underutilized. This study introduces a risk-averse optimization model for marketing EV flexibilities across multiple energy markets in Germany. Using a linear optimization framework, the model incorporates technical, regulatory, and user constraints. EVs are modeled as energy storage units, and the integration of renewable energy sources, such as photovoltaic (PV) and wind energy, is evaluated. To benchmark performance, unidirectional charging with dynamic tariffs is used as the reference scenario. The research examines four distinct logistics depot fleets, each with varying capacities and schedules, to simulate commercial EV operations. The methodology employs a multi-market optimization model that integrates Day-Ahead, Intraday, and Redispatch energy markets, each with specific trading conditions and temporal offsets. The tool, developed using the Python-based library energy pilot by Fraunhofer IEE, also explores scenarios where proprietary renewable energy sources are incorporated to maximize benefits. By accounting for charging schedules, market requirements, and technical constraints, the study aims to enhance grid stability and improve economic outcomes and integration of renewable energies. The findings highlight the economic, environmental, and grid-related advantages of optimizing EV flexibility. Compared to the reference scenario of unidirectional charging, bidirectional strategies delivered an approximate economic benefit of 20%. Furthermore, the integration of proprietary renewable energy sources increased by 15%, demonstrating the potential for environmental gains. The study revealed that the duration of a single charging cycle has a greater impact on economic benefits than the total daily charging time spread across multiple cycles. This underscores the marketing potential of vehicles with extended idle times rather than frequent charging cycles. In conclusion, optimizing energy trading through flexible EV portfolios and efficient charging infrastructure offers substantial cost savings, particularly by increasing the number of charging stations and extending charging cycle durations. By leveraging multiple marketing options, high investment costs can be offset through enhanced revenues. Further gains could be achieved by simultaneously optimizing all trading options, though this approach introduces risks from price volatility and unreliable redispatch capacities. As electrified trucks are modeled as energy storage units, the study's findings are applicable to other forms of energy storage, offering a scalable and transferable framework for future energy systems.

Keywords: electric vehicles, energy markets, energy storage, energy grid

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Authors: Thapa M., J.P. Dutta, K.R. Pandey, R.R. Kattel

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Nepal is extremely vulnerable to the impact of climate change. To mitigate the climate change effects on agricultural production and productivity a range of adaptive strategies needs to be considered. The study was conducted to assess organic paddy production as a coping strategy to the adverse impact of climate change in Phulbari, VDC of Chitwan district. Altogether, 120 respondents (60 adopters of organic farming and 60 from non adopter) were selected using snowball technique of sampling. Pre- tested interview schedule, direct observation, focus group discussion, key informant interview as well as secondary data were used to collect the required information. Factors determining the adoption of organic farming were found to be age, year of schooling, training, frequency of extension contact, perception about climate change, economically active members and poor. A unit increase in these factors except poor would increase the probability of adoption by 4.1%, 7.5%, 7.8%, 43.1%, 41.8% and 7% respectively. However, for poor, it would decrease the probability of adoption of organic farming by 5.1%. Average organic matter content in the adopters' field was higher (2.7%) than the non-adopters' field (2.5%). The regression result showed that type of farmer, price and area under rice cultivation had positive and significant relationship with income; however dependency ratio had negative relationship. As the year of adoption of organic farming increases, the production of rice decline in the first two years then after goes on increasing but the cost of production goes on decreasing with the year of adoption. The respondents adapted to the changing climate through diversification of crops, use of resistance varieties and following good cropping pattern. Gradually growing consumers' awareness about health, preference towards quality food products are the strong points behind organic farming, whereas lacks of bio-fertilizers, lack of effective extension services, no price differentiation between organic and inorganic products were the weak points. There is need for more training and education to change the attitude of farmers and enhance their confidence about the role of organic farming to cope with climate change impact.

Keywords: Organic farming, climate change, sustainable development

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Authors: Rafayel K. Kostanyan

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The opportunities of use of metallic magnesium as a generator of hydrogen gas, as well as thermal and electric energy is presented in the paper. Various schemes of magnesium application are discussed and power characteristics of corresponding devices are presented. Economic estimation of hydrogen price obtained by different methods is made, including the use of magnesium as a source of hydrogen for transportation in comparison with gasoline. Details and prospects of our new inexpensive technology of magnesium production from magnesium hydroxide and magnesium bearing rocks (which are available worldwide and in Armenia) are analyzed. It is estimated the threshold cost of Mg production at which application of this metal in power engineering is economically justified.

Keywords: energy, electrodialysis, magnesium, new technology

Procedia PDF Downloads 272