Search results for: financial capacity

Authors: Basharat Hussain, Wasim Abbas, Sayed Sajid Hussain

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Amorphous colloidal TiO₂ spheres were annealed at high temperatures to yield anatase-phase TiO₂ nanoparticles. With a specific discharge capacity of around 296 mAh g⁻¹ (0.1C), the annealed TiO₂ outperformed its amorphous counterpart, which produced about 182 mAh g⁻¹ at the same rate. The annealed material's larger surface area and more active sites are responsible for this improvement. The amorphous TiO₂ nanoparticles, on the other hand, produced a solid electrolyte interface (SEI) layer that contained organic phosphates, lithium carbonate, and lithium alkyl carbonates. This led to a decrease in performance and increased intrinsic resistance. By successfully removing surface hydroxyl groups and chemisorbed water, high-temperature annealing reduced capacity loss and improved structural and electrochemical stability. After prolonged cycling, the annealed TiO₂ demonstrated enhanced rate capability and cycling performance, retaining 93.5% of its capacity as opposed to 42.1% for the amorphous material. By shedding light on the function of surface chemistry and material processing in maximizing battery performance, our results show the potential of annealed anatase TiO₂ as a high-performance electrode material for Li-ion batteries.

Keywords: TiO₂ li-ion battery, electrode, capacity, stability

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Authors: Zhao Cai-qi, Ma Jun

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Twin steel plates-concrete composite shear walls are composed of a pair of steel plate layers and a concrete layer sandwiched between them, which have the characteristics of both reinforced concrete shear walls and steel plate shear walls. Twin steel plates-composite shear walls contain very high ultimate bearing capacity and ductility, which have great potential to be applied in the super high-rise buildings and special structures. In this paper, we analyzed the basic characteristics and stress mechanism of the twin steel plates-composite shear walls. Specifically, we analyzed the effects of the steel plate thickness, wall thickness and concrete strength on the bearing capacity of the twin steel plates-composite shear walls. The analysis results indicate that：（1）the initial shear stiffness and ultimate shear-carrying capacity is not significantly affected by the thickness of concrete wall but by the class of concrete,（2）both factors significantly impact the shear distribution of the shear walls in ultimate shear-carrying capacity. The technique of twin steel plates-composite shear walls has been successfully applied in the construction of a 88-meter Huge Statue of Buddha located in Hunan Province, China. The analysis results and engineering experiences showed that the twin steel plates-composite shear walls have great potential for future research and applications.

Keywords: twin steel plates-concrete composite shear wall, huge statue of Buddha, shear capacity, initial lateral stiffness, overturning moment bearing

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Natalia Strobel, Jan Kratzer

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Achieving effective innovation is a complex task and during this process firms (especially SMEs) often face obstacles. However, research into obstacles to innovation focusing on SMEs is very scarce. In this study, we propose a theoretical framework for describing these obstacles to innovation and investigate their influence on the innovative performance of SMEs. Data were collected in 2013 through face-to-face interviews with executives of 49 technology SMEs from Germany. The semi-structured interviews were designed on the basis of scales for measuring innovativeness, financial/competitive performance and obstacles to innovation, next to purely open questions. We find that the internal obstacles lack the know-how, capacity overloading, unclear roles and tasks, as well as the external obstacle governmental bureaucracy negatively influence the innovative performance of SMEs. However, in contrast to prior findings this study shows that cooperation ties of firms might also negatively influence the innovative performance.

Keywords: innovation, innovation process, obstacles, SME

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Authors: Bita Mashayekhi, Marjan Fayyazi, Parisa Sefati

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Audit quality is a popular topic in accounting and auditing research because recent decades’ financial crises reduce the reliability of financial reports to public investors and cause significant doubt about the audit profession. Therefore, doing research to identify effective factors in improving audit quality is necessary for bringing back public investors’ trust to financial statements as well as audit reports. In this study, we explore the relationship between audit rotation and audit quality. For this purpose, we employ the Duff (2009) model of audit quality to measure audit quality and use a questionnaire survey of 27 audit service quality attributes. Our results show that there is a negative relationship between auditor’s rotation and audit quality as we consider the auditor’s reputation, capability, assurance, experience, and responsiveness as surrogates for audit quality. There is no evidence for verifying a same relationship when we use the auditor’s independence and expertise for measuring audit quality.

Keywords: audit quality, auditor’s rotation, reputation, capability, assurance, experience, responsiveness, independence, expertise

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Authors: Riccardo Bonazzi, Michaël Poli, Abeba Nigussie Turi

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This paper presents an applied research of a new module for the financial administration and management industry, Personalizable and Automated Checklists Integrator, Overseeing Legal Investigations (PACIOLI). It aims at designing the business model of the trust company of the future. By identifying the key stakeholders, we draw a general business process design of the industry. The business model focuses on disintermediating the traditional form of business through the new technological solutions of a software company based in Switzerland and hence creating a new interactive platform. The key stakeholders of this interactive platform are identified as IT experts, legal experts, and the New Edge Trust Company (NATC). The mechanism we design and propose has a great importance in improving the efficiency of the financial business administration and management industry, and it also helps to foster the provision of high value added services in the sector.

Keywords: new edge trust company, business model design, automated checklists, financial technology

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Authors: Simiso Fisokuhle Nyandeni

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Climate change has turned out to be a pandemic that has drawn the attention of many countries’ households around the globe, especially those whose livelihood and economic status depend on agricultural productivity. Hence, the agricultural sector is regarded as the sector that is most dependent on climate conditions for its productivity/harvest, yet in recent years this sector has been experiencing drought. However, adaptation seems to be a tool that every farmer looks upon as a solution to their challenges as their productivity keeps on being vulnerable to climate effects. Thus, exposure/access to the market seems to be a major challenge that faces especially small-scale farmers. We, therefore, examine the small-scale farmers’ constraints or challenges towards getting access to the market for them to get proper sales of their farming products. As a result, the adaptation capacity of every farm household varies on the financial status.

Keywords: climate change, small-scale farming, agriculture sector, adaptation

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Authors: Victoria Scarratt

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Couples involved in age-gap relationships generally evoke negative stereotypes, opinions, and social disapproval. This research seeks to examine whether financial disparities in age-discrepant relationships cause negative attitudes in study participants. It was hypothesized that an age-gap couple (29 year difference) would receive a greater degree of societal disapproval when the couple also had a large salary gap compared to a similarly aged couple (1 year difference) with a salary gap. Additionally, there would be no significant difference between age-gap couples without a salary-gap compared to a similarly aged couple without a salary gap. To test the hypothesis, participants were given one of four scenarios regarding a couple in a romantic relationship.Then they were asked to respond to nine Likert scale questions. Results indicated that participants perceived age-gap relationships with a salary disparity to be less equitable in regard to a power imbalance between the couple and the financial and general gain that one partner will receive. A significant interaction was also detected for evoking feelings of disgust in participants and how morally correct it is for the couple to continue their relationship.

Keywords: age gap relationships, love, financial disparities, societal stigmas, relationship dynamics

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Authors: Gokcen Ogruk-Maz, Sinan Yildirim

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Introduction: Exchange rate forecasting is pivotal for informed financial decision-making, encompassing risk management, investment strategies, and international trade planning. However, traditional forecasting models often fail to capture the complexity and volatility of currency markets. This study explores the potential of ensemble learning techniques such as Random Forest, Gradient Boosting, and AdaBoost to enhance the accuracy and robustness of exchange rate predictions. Research Objectives The primary objective is to evaluate the performance of ensemble methods in comparison to traditional econometric models such as Uncovered Interest Rate Parity, Purchasing Power Parity, and Monetary Models. By integrating advanced machine learning techniques with fundamental macroeconomic indicators, this research seeks to identify optimal approaches for predicting exchange rate movements across major currency pairs. Methodology: Using historical exchange rate data and economic indicators such as interest rates, inflation, money supply, and GDP, the study develops forecasting models leveraging ensemble techniques. Comparative analysis is performed against traditional models and hybrid approaches incorporating Facebook Prophet, Artificial Neural Networks, and XGBoost. The models are evaluated using statistical metrics like Mean Squared Error, Theil Ratio, and Diebold-Mariano tests across five currency pairs (JPY to USD, AUD to USD, CAD to USD, GBP to USD, and NZD to USD). Preliminary Results: Results indicate that ensemble learning models consistently outperform traditional methods in predictive accuracy. XGBoost shows the strongest performance among the techniques evaluated, achieving significant improvements in forecast precision with consistently low p-values and Theil Ratios. Hybrid models integrating macroeconomic fundamentals into machine learning frameworks further enhance predictive accuracy. Discussion: The findings show the potential of ensemble methods to address the limitations of traditional models by capturing non-linear relationships and complex dynamics in exchange rate movements. While Random Forest and Gradient Boosting are effective, the superior performance of XGBoost suggests that its capacity for handling sparse and irregular data offers a distinct advantage in financial forecasting. Conclusion and Implications: This research demonstrates that ensemble learning techniques, particularly when combined with traditional macroeconomic fundamentals, provide a robust framework for improving exchange rate forecasting. The study offers actionable insights for financial practitioners and policymakers, emphasizing the value of integrating machine learning approaches into predictive modeling for monetary economics.

Keywords: exchange rate forecasting, ensemble learning, financial modeling, machine learning, monetary economics, XGBoost

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Authors: Kung-Jen Tu

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Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: design evaluation method, management fund, operational and capital expenses, rental apartment buildings

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Authors: Stamataki Erofili Nellie, Benardos Andreas

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Winemaking and aging in Greece has been performed so far in special facilities, designed either as above ground or shallow underground buildings. The latter are well-known in Santorini as “canaves,” dating back to the 1700s. Canaves were mainly used for wine storage and aging, although occasionally, they included a winepress to complete there the whole wine production. On the other hand, wine caves are subterranean caves of the same use as canaves in the wine manufacturing industry, but they are excavated at a much greater depth of more than 53 meters or 175 feet. Whereas canaves or a typical wine cellar is around 10 feet deep, with is equivalent to almost 3 meters. This paper discusses the advantages and the disadvantages of creating a wine cave for the vinification of a winery in Greece and the financial investment or risk that has to be taken. The data presented and analysed are given from wineries in Greece and especially from those located in Santorini island. The estimation of the cost for the excavation of the model selected as a wine cave will be compared with the financial budget of the existing premises and facilities above ground in Greek wineries. In order to show whether it is viable for a greek winery to invest in a wine cave.

Keywords: underground space use, subterranean winery, wine cave, underground winery, greece

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Authors: Nidhal Mgadmi, Abdelhafidh Othmani

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This article examines the causal relationship between stock indices and cryptocurrencies during the current war between Russia and Ukraine. The econometric investigation runs from February 24, 2022, to April 12, 2023, focusing on seven stock market indices (S&P500, DAX, CAC40, Nikkei, TSX, MOEX, and PFTS) and seven cryptocurrencies (Bitcoin, Ethereum, Litcoin, Dash, Ripple, DigiByte and XEM). In this article, we try to understand how investors react to fluctuations in financial assets to seek safe havens in cryptocurrencies. We used dynamic causality to detect a possible causal relationship in the short term and seven models to estimate the long-term relationship between cryptocurrencies and financial assets. The causal relationship between financial market indexes and cryptocurrency coins in the short run indicates that three famous cryptocurrencies (BITCOIN, ETHEREUM, RIPPLE) and the two digital assets with minor popularity (XEM, Digibyte) are impacted by the German, Russian, and Ukrainian stock markets. In the long run, we found a positive and significate effect of the American, Canadian, French, and Ukrainian stock market indexes on Bitcoin. Thus, the stability of the traditional financial markets during the current war period can be explained on the one hand by investors’ fears of an unstable business climate, and on the other hand, by speculators’ sentiment towards new electronic products, which are perceived as hedging instruments and a safe haven in the face of the conflict between Ukraine and Russia.

Keywords: causality, stock indices, cryptocurrency, war, Russia, Ukraine

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Authors: Ali Motevalli, Shahin Nayyeri Amiri

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Cross-Hole Sonic Logging (CSL) is a common type of Non-Destructive Testing (NDT) method, which is currently used to check the integrity of placed drilled shafts. CSL evaluates the integrity of the concrete inside the cage and between the access tubes based on propagation of ultrasonic waves between two or more access tubes. A number of access tubes are installed inside the reinforcing cage prior to concrete placement as guides for sensors. The access tubes can be PVC or steel galvanized based on ASTM6760. The type of the CSL tubes can affect the axial strength of the drilled shaft. The objective of this study is to compare the amount of axial load capacity of drilled shafts due to using a different type of CSL tubes inside the caging. To achieve this, three (3) large-scale drilled shaft samples were built and tested using a hydraulic actuator at the Florida International University’s (FIU) Titan America Structures and Construction Testing (TASCT) laboratory. During the static load test, load-displacement curves were recorded by the data acquisition system (MegaDAC). Three drilled shaft samples were built to evaluate the effect of the type of the CSL tube on the axial load capacity in drilled shaft foundations.

Keywords: drilled shaft foundations, axial load capacity, cage, PVC, galvanized tube, CSL tube

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Authors: Wale Agbaje

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The aim of this research study is to assess the impact of financial statement fraud on profitability of some selected Nigerian manufacturing firms covering (2002-2016). The specific objectives focused on to ascertain the effect of incorrect asset valuation on return on assets (ROA) and to ascertain the relationship between improper expense recognition and return on assets (ROA). To achieve these objectives, descriptive research design was used for the study while secondary data were collected from the financial reports of the selected firms and website of security and exchange commission. The analysis of covariance (ANCOVA) was used and STATA II econometric method was used in the analysis of the data. Altman model and operating expenses ratio was adopted in the analysis of the financial reports to create a dummy variable for the selected firms from 2002-2016 and validation of the parameters were ascertained using various statistical techniques such as t-test, co-efficient of determination (R2), F-statistics and Wald chi-square. Two hypotheses were formulated and tested using the t-statistics at 5% level of significance. The findings of the analysis revealed that there is a significant relationship between financial statement fraud and profitability in Nigerian manufacturing industry. It was revealed that incorrect assets valuation has a significant positive relationship and so also is the improper expense recognition on return on assets (ROA) which serves as a proxy for profitability. The implication of this is that distortion of asset valuation and expense recognition leads to decreasing profit in the long run in the manufacturing industry. The study therefore recommended that pragmatic policy options need to be taken in the manufacturing industry to effectively manage incorrect asset valuation and improper expense recognition in order to enhance manufacturing industry performance in the country and also stemming of financial statement fraud should be adequately inculcated into the internal control system of manufacturing firms for the effective running of the manufacturing industry in Nigeria.

Keywords: Althman's Model, improper expense recognition, incorrect asset valuation, return on assets

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Authors: Kenza Maher, Yahya Zakaria, Noora S. Al-Jaidah

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Temperature is a critical parameter for lithium-ion battery performance, life, and safety. In this study, four commercially available 18650 lithium-ion cells from four different manufacturers are subjected to accelerated cycle aging for up to 500 cycles at two different temperatures (25°C and 45°C). The cells are also calendar-aged at the same temperatures in both charged and discharged states for 6 months to investigate the effect of aging and temperature on capacity fade and state of health. The results showed that all battery cells demonstrated good cyclability and had a good state of health at both temperatures. However, the capacity loss and state of health of these cells are found to be dependent on the cell chemistry and aging conditions, including temperature. Specifically, the capacity loss is found to be higher at the higher aging temperature, indicating the significant impact of temperature on the aging of lithium-ion batteries.

Keywords: lithium-ion battery, aging mechanisms, cycle aging, calendar aging.

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Authors: Ramin Shadani

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This study introduces adaptive performance as a key organizational performance dimension and explores the relationship between the dimensions of a learning organization and adaptive performance. A survey was therefore conducted using the dimensions of the Learning Organization Questionnaire (DLOQ), followed by factor analysis and structural equation modeling in order to investigate the dynamics between learning organization practices and adaptive performance. Results confirm that adaptive performance is indeed one important dimension of organizational performance. The study also shows that perceived knowledge and adaptive performance mediate the positive relationship between the practices of a learning organization with perceived financial performance. We extend existing DLOQ research by demonstrating that adaptive performance, as a nonfinancial organizational learning outcome, has a significant impact on financial performance. Our study also provides additional validation of the measures of DLOQ's performance. Indeed, organizations need to take a glance at how the activities of learning and development can provide better overall improvement in performance, especially in enhancing adaptive capability. The study has provided requisite empirical support that activities of learning and development within organizations allow much-improved intangible performance outcomes, especially through adaptive performance.

Keywords: adaptive performance, continuous learning, financial performance, leadership style, organizational learning, organizational performance

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Authors: Radzuan Junin, Dayang Zulaika A. Hasbollah

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The increasing amount of greenhouse gasses in the atmosphere recently has become one of the discussed topics in relation with world’s concern on climate change. Developing countries’ emissions (such as Malaysia) are now seen to surpass developed country’s emissions due to rapid economic development growth in recent decades. This paper presents the potential storage sites suitability and storage capacity assessment for CO2 sequestration in sedimentary basins of Malaysia. This study is the first of its kind that made an identification of potential storage sites and assessment of CO2 storage capacity within the deep saline aquifers in the country. The CO2 storage capacity in saline formation assessment was conducted based on the method for quick assessment of CO2 storage capacity in closed, and semi-closed saline formations modified to suit the geology setting of Malaysia. Then, an integrated approach that involved geographic information systems (GIS) analysis and field data assessment was adopted to provide the potential storage sites and its capacity for CO2 sequestration. This study concentrated on the assessment of major sedimentary basins in Malaysia both onshore and offshore where potential geological formations which CO2 could be stored exist below 800 meters and where suitable sealing formations are present. Based on regional study and amount of data available, there are 14 sedimentary basins all around Malaysia that has been identified as potential CO2 storage. Meanwhile, from the screening and ranking exercises, it is obvious that Malay Basin, Central Luconia Province, West Baram Delta and Balingian Province are respectively ranked as the top four in the ranking system for CO2 storage. 27% of sedimentary basins in Malaysia were evaluated as high potential area for CO2 storage. This study should provide a basis for further work to reduce the uncertainty in these estimates and also provide support to policy makers on future planning of carbon capture and sequestration (CCS) projects in Malaysia.

Keywords: CO₂ storage, deep saline aquifer, GIS, sedimentary basin

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Authors: Jaime Pizarro, Ximena Castillo

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The intensive use of water in agriculture, industry, human consumption and increasing pollution are factors that reduce the availability of water for future generations; the challenge is to advance in sustainable and low-cost solutions to reuse water and to facilitate the availability of the resource in quality and quantity. The use of new low-cost materials with sorbent capacity for pollutants is a solution that contributes to the improvement and expansion of water treatment and reuse systems. Fly ash, a residue from the combustion of coal in power plants that is produced in large quantities in newly industrialized countries, contains a high amount of silicon oxides and aluminum oxides, whose properties can be used for the synthesis of mesoporous materials. Properly functionalized, this material allows obtaining matrixes with high sorption capacity. The mesoporous materials have a large surface area, thermal and mechanical stability, uniform porous structure, and high sorption and functionalization capacities. The goal of this study was to develop hexagonal mesoporous siliceous material (HMS) for the adsorption of sulphate from industrial and mining waters. The silica was extracted from fly ash after calcination at 850 ° C, followed by the addition of water. The mesoporous structure has a surface area of 282 m2 g-1 and a size of 5.7 nm and was functionalized with ethylene diamine through of a self-assembly method. The material was characterized by Diffuse Reflectance Infrared Fourier Transform Spectroscopy (DRIFTS). The capacity of sulphate sorption was evaluated according to pH, maximum load capacity and contact time. The sulphate maximum adsorption capacity was 146.1 mg g-1, which is three times higher than commercial sorbents. The kinetic data were fitted according to a pseudo-second order model with a high coefficient of linear regression at different initial concentrations. The adsorption isotherm that best fitted the experimental data was the Freundlich model.

Keywords: fly ash, mesoporous siliceous, sorption, sulphate

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: Ahmad Amiri, Hamed Khajeh Arzani, Md. Salim Newaz Kazi, Bee Teng Chew

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Obviously, the behavior of thermophysical properties of covalently functionalized MWNT-based water nanofluids cannot be predicted from the predicted models. We present a study of the specific heat capacity, effective thermal conductivity, density and viscosity of coolants containing functionalized multi-wall carbon nanotubes (MWNT-COOH) with carboxyl groups at different temperatures. After synthesizing of MWNT-COOH-based water, measurements on the prepared coolants were made at various concentrations by different experimental methods. While thermal conductivity of nanofluids illustrated a significant increase, the specific heat capacity of the samples showed a downward behavior with increasing temperature. The viscosity was investigated in different shear rates and temperatures. Interestingly, the specific heat capacity of all prepared nanofluids was decreased with increasing concentration. Also, the density of the MWNT-COOH-based water nanofluids increased and decreased smoothly with increasing MWNT-COOH concentration and temperature, respectively.

Keywords: carbon nanotubes, coolant, heat capacity, density, viscosity, thermal conductivity

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Authors: Ahmed M. Gamal, Adel M. Belal, S. A. Elsoud

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This article aims to study the effect of reinforcement inclusions (geogrids) on the sand dunes bearing capacity under strip footings. In this research experimental physical model was carried out to study the effect of the first geogrid reinforcement depth (u/B), the spacing between the reinforcement (h/B) and its extension relative to the footing length (L/B) on the mobilized bearing capacity. This paper presents the numerical modeling using the commercial finite element package (PLAXIS version 8.2) to simulate the laboratory physical model, studying the same parameters previously handled in the experimental work (u/B, L/B & h/B) for the purpose of validation. In this study the soil, the geogrid, the interface element and the boundary condition are discussed with a set of finite element results and the validation. Then the validated FEM used for studying real material and dimensions of strip foundation. Based on the experimental and numerical investigation results, a significant increase in the bearing capacity of footings has occurred due to an appropriate location of the inclusions in sand. The optimum embedment depth of the first reinforcement layer (u/B) is equal to 0.25. The optimum spacing between each successive reinforcement layer (h/B) is equal to 0.75 B. The optimum Length of the reinforcement layer (L/B) is equal to 7.5 B. The optimum number of reinforcement is equal to 4 layers. The study showed a directly proportional relation between the number of reinforcement layer and the Bearing Capacity Ratio BCR, and an inversely proportional relation between the footing width and the BCR.

Keywords: reinforced soil, geogrid, sand dunes, bearing capacity

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Authors: Alimshan Faizulayev, Eralp Bektas, Abdul Ghafar Ismail, Bezhan Rustamov

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This paper performs empirical analysis on determinants of profitability in Islamic and Conventional Banks. The main focus of this study is to evaluate and measure of financial performance of Islamic banking firms operating in Egypt, Iran, Malaysia, Pakistan, Turkey, UAE in contrast to Conventional ones in those countries. To evaluate empirically performance of the banks, various financial ratios are employed. We measure performance in terms of liquidity, profitability, solvency, and efficiency. In this work, t-test, F-test, and OLS analysis are used to make hypothesis tests. Our findings reveal that there are similarities and differences in profitability determinants of Islamic and Conventional banking firms. The cost to revenue ratio has inverse relationship with profitability indicators in both banking systems. However, there are differences in financial performances between Conventional Banks and Islamic banks which are found in overall picture of all banks in terms of net income margin.

Keywords: Islamic banking, conventional banking, GDP growth, emerging market economies

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Authors: Fouzia Brihmat

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Economic planning models, which are used to build microgrids and distributed energy resources, are the current norm for expressing such confidence (DER). These models often decide both short-term DER dispatch and long-term DER investments. This research investigates the most cost-effective hybrid (photovoltaic-diesel) renewable energy system (HRES) based on Total Net Present Cost (TNPC) in an Algerian Saharan area, which has a high potential for solar irradiation and has a production capacity of 1GW/h. Lead-acid batteries have been around much longer and are easier to understand, but have limited storage capacity. Lithium-ion batteries last longer, are lighter, but generally more expensive. By combining the advantages of each chemistry, we produce cost-effective high-capacity battery banks that operate solely on AC coupling. The financial implications of this research describe the corrosion process that occurs at the interface between the active material and grid material of the positive plate of a lead-acid battery. The best cost study for the HRES is completed with the assistance of the HOMER Pro MATLAB Link. Additionally, during the course of the project's 20 years, the system is simulated for each time step. In this model, which takes into consideration decline in solar efficiency, changes in battery storage levels over time, and rises in fuel prices above the rate of inflation. The trade-off is that the model is more accurate, but it took longer to compute. As a consequence, the model is more precise, but the computation takes longer. We initially utilized the Optimizer to run the model without MultiYear in order to discover the best system architecture. The optimal system for the single-year scenario is the Danvest generator, which has 760 kW, 200 kWh of the necessary quantity of lead-acid storage, and a somewhat lower COE of $0.309/kWh. Different scenarios that account for fluctuations in the gasified biomass generator's production of electricity have been simulated, and various strategies to guarantee the balance between generation and consumption have been investigated. The technological optimization of the same system has been finished and is being reviewed in a recent paper study.

Keywords: battery, corrosion, diesel, economic planning optimization, hybrid energy system, lead-acid battery, multi-year planning, microgrid, price forecast, PV, total net present cost

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Authors: H. Florianová, J. Nešleha

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Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: capital markets, financial derivatives, investors' behavior, regulation

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Authors: Antanas Žiliukas, Mindaugas Kukis

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The work deals with cellular pressure vessels subjected to internal pressure. Their cellular insert can be used for placing liquids or gases, which is necessary to carry out technological processes, and the vessel itself has a good bearing capacity. Numerical calculations of the three core structures, which measure the influence of the inner cylinder thickness on maximum bearing capacity are presented. The calculations are compared using strength criteria and they show the different strength safety level.

Keywords: pressure, strength criterion, sandwich plate, cellular vessel

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Authors: Abhishek Ranga

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The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity.

Keywords: aggressive accounting choice, conservative accounting choice, disclosure, implied cost of equity

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Authors: Bikash Ranjan Mishra, Lopamudra D. Satpathy

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In the wake of the phenomenal surge in international business in the last decades or more, both the developed and developing economies around the world are in massive competition to attract more and more FDI flows. While the developed countries have marched ahead in the race, the developing countries, especially those of Asian economies, have followed them at a rapid pace. While most of the previous studies have analysed the role of institutional quality in the promotion of FDI flows in developing countries, very few studies have taken an integrated approach of examining the comprehensive impact of institutional quality, globalization pattern and domestic financial development on FDI flows. In this context, the paper contributes to the literature in two important ways. Firstly, two composite indices of institutional quality and domestic financial development for the Asian countries are constructed in comparison to earlier studies that resort to a single variable for indicating the institutional quality and domestic financial development. Secondly, the impact of these variables on FDI flows through their interaction with geographical region is investigated. The study uses panel data covering the time period of 1996 to 2012 by selecting twenty Asian developing countries by emphasizing the quality of institutions from the geographical regions of eastern, south-eastern, southern and western Asia. Control of corruption, better rule of law, regulatory quality, effectiveness of the government, political stability and voice and accountability are used as indicators of institutional quality. Besides these, the study takes into account the domestic credits in the hands of public, private sectors and in stock markets as domestic financial indicators. First in the specification of model, a factor analysis is performed to reduce the vast determinants, which are highly correlated with each other, to a manageable size. Afterwards, a reduced version of the model is estimated with the extracted factors in the form of index as independent variables along with a set of control variables. It is found that the institutional quality index and index of globalization exert a significant effect on FDI inflows of the host countries; in contrast, the domestic financial index does not seem to play much worthy role. Finally, some robustness tests are performed to make sure that the results are not sensitive to temporal and spatial unobserved heterogeneity. On the basis of the above study, one general inference can be drawn from the policy prescription point of view that the government of these developing countries should strengthen their domestic institution, both financial and non-financial. In addition to these, welfare policies should also target for rapid globalization. If the financial and non-financial institutions of these developing countries become sound and grow more globalized in the economic, social and political domain, then they can appeal to more amounts of FDI inflows that will subsequently result in advancement of these economies.

Keywords: Asian developing economies, FDI, institutional quality, panel data

Procedia PDF Downloads 317

Authors: Ameen Alshugaa, Farrukh Habib

Abstract:

Shariah (the Islamic law) sanctions a plethora of profit-sharing arrangements for financial transactions. However, when it comes to the practice of Islamic banking, it is felt by the scholars and practitioners that many of these arrangements often fail to compensate different parties of a financial transaction compared to conventional banking, due to the Riba (interest / usury) element. This issue is caused by the parties inability to codify these compensations in any contract so as to avoid Riba. Here, hibah (gift) may be regarded as one of the solutions. In essence, hibah is a unilateral charity contract where a party voluntarily gives away something to another party without any counter value. This paper attempts to analyse theoretical and practical aspects of hibah from the perspective of Islamic law, enunciating its legality and detailing its allowance in Islamic banking. It also discusses several practices evaluating the role of hibah in resolving issues related to Riba. In particular, these practices demonstrate the validity of hibah as a way to distribute revenues and compensate parties in Islamic financial transactions, while achieving competitive advantage over conventional banking, and avoiding the element of Riba.

Keywords: hibah (gift), Islamic Finance, Islamic Law of Contract, profit distribution, Shariah

Procedia PDF Downloads 305

Authors: Duduku Krishnaiah, S. M. Anisuzzaman, Kumaran Govindaraj, Chiam Chel Ken, Zykamilia Kamin

Abstract:

Pure essential oil is highly demanded in the market since most of the so-called pure essential oils in the market contains alcohol. This is because of the usage of alcohol in separating oil and water mixture. Removal of pure essential oil from water without using any chemical solvent has become a challenging issue. Adsorbents generally have the properties of separating hydrophobic oil from hydrophilic mixture. Polypropylen nanofiber is a thermoplastic polymer which is produced from propylene. It was used as an adsorbent in this study. Based on the research, it was found that the polypropylene nanofiber was able to adsorb peppermint oil from the aqueous solution over a wide range of concentration. Based on scanning electron microscope (SEM), nanofiber has very small nano diameter fiber size in average before the adsorption and larger scaled average diameter of fibers after adsorption which indicates that smaller diameter of nanofiber enhances the adsorption process. The adsorption capacity of peppermint oil increases as the initial concentration of peppermint oil and amount of polypropylene nanofiber used increases. The maximum adsorption capacity of polypropylene nanofiber was found to be 689.5 mg/g at (T= 30°C). Moreover, the adsorption capacity of peppermint oil decreases as the temperature of solution increases. The equilibrium data of polypropylene nanofiber is best represented by Freundlich isotherm with the maximum adsorption capacity of 689.5 mg/g. The adsorption kinetics of polypropylene nanofiber was best represented by pseudo-second order model.

Keywords: nanofiber, adsorption, peppermint essential oil, isotherms, adsorption kinetics

Procedia PDF Downloads 163

Authors: Adem Atmaca

Abstract:

More than 500 million COVID-19 cases were noted in February 2022 in Turkey. The country is one of the most impacted countries all around the world with twenty million cases. The cement industry in Turkey ranks among the most energy-intensive sectors with huge production capacities among the biggest exporter countries. The purpose of this paper is to clarify the effects of the pandemic on the cement industry in Turkey by showing the changes in manufacturing capacities and export rates of all facilities in the country. The investigation has revealed that the epidemic has slight effects on the factory production capacities and export rates. Even though the capacity usage rates of the factories decreased dramatically in 2019, it seems that Turkish cement companies turned the pandemic to their advantage by increasing their production capacities, capacity usage rates and export rates gradually by reaching new markets during the pandemic.

Keywords: energy, emissions, cement industry, COVID-19

Procedia PDF Downloads 122