Search results for: growing stock

Authors: Uzoma Emmanuel Igboji

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The study investigates the effects of cash flow position on corporate performance in the manufacturing sector of Nigeria, using multiple regression techniques. The study involved a survey of five (5) manufacturing companies quoted on the Nigerian Stock Exchange. The data were obtained from the annual reports of the selected companies under study. The result shows that operating and financing cash flow have a significant positive relationship with corporate performance, while investing cash flow position have a significant negative relationship. The researcher recommended that the regulatory authorities should encourage external auditors of these quoted companies to use cash flow ratios in evaluating the performance of a company before expressing an independent opinion on the financial statement. The will give detailed financial information to existing and potential investors to make informed economic decisions.

Keywords: cash flow, financing, performance, operating

Procedia PDF Downloads 302

Authors: Mazarine Roquet, Pierre Dewallef

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The building sector, both residential and tertiary, accounts for a significant share of greenhouse gas emissions. In Belgium, partly due to poor insulation of the building stock, but certainly because of the massive use of fossil fuels for heating buildings, this share reaches almost 30%. To reduce carbon emissions from urban building heating, district heating networks emerge as a promising solution as they offer various assets such as improving the load factor, integrating combined heat and power systems, and enabling energy source diversification, including renewable sources and waste heat recovery. However, mainly for sake of simple operation, most existing district heating networks still operate at high or medium temperatures ranging between 120°C and 60°C (the socalled second and third-generations district heating networks). Although these district heating networks offer energy savings in comparison with individual boilers, such temperature levels generally require the use of fossil fuels (mainly natural gas) with combined heat and power. The fourth-generation district heating networks improve the transport and energy conversion efficiency by decreasing the operating temperature between 50°C and 30°C. Yet, to decarbonise the building heating one must increase the waste heat recovery and use mainly wind, solar or geothermal sources for the remaining heat supply. Fifth-generation networks operating between 35°C and 15°C offer the possibility to decrease even more the transport losses, to increase the share of waste heat recovery and to use electricity from renewable resources through the use of heat pumps to generate low temperature heat. The main objective of this contribution is to exhibit on a real-life test case the benefits of replacing an existing third-generation network by a fifth-generation one and to decarbonise the heat supply of the building stock. The second objective of the study is to highlight the difficulties resulting from the use of a fifth-generation, low-temperature, district heating network. To do so, a simulation model of the district heating network including its regulation is implemented in the modelling language Modelica. This model is applied to the test case of the heating network on the University of Liège's Sart Tilman campus, consisting of around sixty buildings. This model is validated with monitoring data and then adapted for low-temperature networks. A comparison of primary energy consumptions as well as CO2 emissions is done between the two cases to underline the benefits in term of energy independency and GHG emissions. To highlight the complexity of operating a lowtemperature network, the difficulty of adapting the mass flow rate to the heat demand is considered. This shows the difficult balance between the thermal comfort and the electrical consumption of the circulation pumps. Several control strategies are considered and compared to the global energy savings. The developed model can be used to assess the potential for energy and CO2 emissions savings retrofitting an existing network or when designing a new one.

Keywords: building simulation, fifth-generation district heating network, low-temperature district heating network, urban building heating

Procedia PDF Downloads 63

Authors: Mehmet Ali Topçu, Aydın Ruşen

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Çinkur is the only plant in Turkey that produces zinc from primary ore containing zinc carbonate from its establishment until 1997. After this year, zinc concentrate coming from Iran was used in this plant. Therefore, there are two different leach residues namely Turkish leach residue (TLR) and Iranian leach residue (ILR), in Çinkur stock piles. This paper describes zinc recovery by sulphuric acid (H2SO4) treatment for each leach residue and includes comparison of blended of TLR and ILR. Before leach experiments; chemical, mineralogical and thermal analysis of three different leach residues was carried out by using atomic absorption spectrometry (AAS), X-Ray diffraction (XRD) and differential thermal analysis (DTA), respectively. Leaching experiments were conducted at optimum conditions; 100 oC, 150 g/L H2SO4 and 2 hours. In the experiments, stirring rate was kept constant at 600 r/min which ensures complete mixing in leaching solution. Results show that zinc recovery for Iranian LR was higher than Turkish LR due to having different chemical composition from each other.

Keywords: hydrometallurgy, leaching, metal extraction, metal recovery

Procedia PDF Downloads 341

Authors: Pei-Gi Shu, Yin-Hua Yeh, Chao-Ting Chen

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Using a dataset consisting of 7,120 firm-year observations from the Taiwan stock market over the 2007-2011 sample period, we find a significantly negative relationship between board external connectedness and firm diversification. We propose a learningeffect hypothesis indicating that an externally connected board member’s experiences in other companies directly affect his recommendations regarding the underlying firm’s diversification. The partial correlation between diversification and the performance of firms with externally connected board members is used as a proxy for the learning effect. The empirical results show that the learning effect is asymmetrically embedded in firm diversification, with negative experiences having a greater effect on firm diversification than positive experiences. Externally connected board members are associated with reduced diversification in one firm after they learn that diversification is detrimental to value in other companies. Moreover, the diversification of a firm due to board external connectedness is moderated by the controlling owner’s interest alignment and entrenchment.

Keywords: board, external, connectedness, diversification

Procedia PDF Downloads 453

Authors: G. J. Fan, T. T. Lee, M. H. Chen, T. F. Shiao, B. Yu, C. F. Lee

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Rice straw with poor feed quality and spent mushroom substrate are both the most abundant agricultural residues in Taiwan. Edible mushrooms from white rot fungi possess lignocellulase activity. It was expected to improve the feeding value of rice straw for ruminant by solid-state fermentation pretreatment using spent mushroom substrate. Six varieties or subspecies of spent edible mushrooms (Pleurotus ostreatus (blue or white color), P. sajor-caju, P. citrinopileatus, P. eryngii and Ganoderma lucidium) substrate were evaluated in solid-state fermentation process with rice straw for 8 wks. Quality improvement of fermented rice straw was determined by its in vitro digestibility, lignocellulose degradability, and cell wall breakdown checked by scanning electron microscope. Results turned out that Pleurotus ostreatus (white color) and P. sajor-caju had the better lignocellulose degradation effect than the others and was chosen for advance in vivo study. Rice straw fermented with spent Pleurotus ostreatus or Pleurotus sajor-caju mushroom substrate 8 wks was prepared for growing and lactating feeding trials of dairy goat, respectively. Pangolagrass hay at 15% diet dry matter was the control diet. Fermented or original rice straw was added to substitute pangolagrass hay in both feeding trials. A total of 30 head of Alpine castrated ram were assigned into three groups for 11 weeks, 5 pens (2 head/pen) each group. A total of 21 head of Saanen and Alpine goats were assigned into three treatments and individually fed in two repeat lactating trials with 28-d each. In castrated ram study, results showed that fermented rice straw by spent Pleurotus ostreatus mushroom substrate attributed the higher daily dry matter intakes (DMI, 1.53 vs. 1.20 kg) and body weight gain (138 vs. 101 g) than goats fed original rice straw. DMI (2.25 vs. 1.81 kg) and milk yield (3.31 vs. 3.02 kg) of lactating goats fed control pangolagrass diet and fermented rice straw by spent Pleurotus sajor-caju mushroom substrate were also higher than those fed original rice straw diet (P < 0.05). Milk compositions, milk fat, protein, total solid and lactose, were similar among treatments. In conclusion, solid-state fermentation by spent Pleurotus ostreatus or Pleurotus sajor-caju mushroom substrate could effectively improve the feeding value of rice straw. Fermented rice straw is a good alternative fiber feed resource for growing and lactating dairy goats and 15% in diet dry matter is recommended.

Keywords: feeding value, fermented rice straw, growing and lactating dairy goat, spent Pleurotus ostreatus and Pleurotus sajor-caju mushroom substrate

Procedia PDF Downloads 159

Authors: Akbar Cahyadhi Pratama Putra, Tantri Utami Widhaningtyas, M. Randy Aswin

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Indonesia as an archipelagic nation have very long coastline which have large potential marine resources, one of that is the mangrove ecosystems. Lapindo mudflow disaster in Sidoarjo, East Java requires mudflow flowed into the sea through the river Brantas and Porong. Mud material that transported by river flow is feared dangerous because they contain harmful substances such as heavy metals. This study aims to map the mangrove ecosystem seen from its density and knowing how big the impact of a disaster on the Lapindo mud to mangrove ecosystem and accompanied by efforts to address the mangrove ecosystem that maintained continuity. Mapping coastal mangrove conditions of Sidoarjo was done using remote sensing products that Landsat 7 ETM + images with dry months of recording time in 2002, 2006, 2009, and 2014. The density of mangrove detected using NDVI that uses the band 3 that is the red channel and band 4 that is near IR channel. Image processing was used to produce NDVI using ENVI 5.1 software. NDVI results were used for the detection of mangrove density is 0-1. The development of mangrove ecosystems of both area and density from year to year experienced has a significant increase. Mangrove ecosystems growths are affected by material deposition area of Lapindo mud on Porong and Brantas river estuary, where the silt is growing medium suitable mangrove ecosystem and increasingly growing. Increasing the density caused support by public awareness to prevent heavy metals in the material so that the Lapindo mud mangrove breeding done around the farm.

Keywords: archipelagic nation, mangrove, Lapindo mudflow disaster, NDVI

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Authors: Miang Hong Ngerng, Noor Diyana Jasme, May Jin Theong

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Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index.

Keywords: active portfolio management, asset allocation ex-ante investment, asset class, partial lease square

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Authors: Ichiro Takahashi

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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.

Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

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This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

Procedia PDF Downloads 173

Authors: Mubashar Iqbal, Iqra Anjum, Muhammad Dildar Gogi, Muhammad Jalal Arif

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The present study was carried to screen out the effective entomopathogenic fungi (EPF) inoculation method in maize and to evaluate pathogenicity and oviposition-choice in C. partellus. Three entomopathogenic fungi (EPF) formulations Pacer® (Metarhizium anisopliae), Racer® (Beauveria bassiana) and Meailkil® (Verticillium lecanii) were evaluated at three concentrations (5000, 10000 and 20000 ppm) for their endophytism in maize and pathogenicity in C. partellus. The stock solution of the highest concentration (20,000 ppm) was prepared and next lower from stock solution. In the first experiment, three EPF was inoculated in maize plant by four methods, i.e., leaf-inoculation (LI), whorl-inoculation (WI), shoot-inoculation (SI) and root-inoculation (RI). Leaf-discs and stem-cutting were sampled in all four inoculation methods and placed on fungus growth media in Petri dishes. In the second experiment, pathogenicity, pupal formation, adult emergence, sex ratio, oviposition-choice, and growth index of C. partellus were calculated. The leaves and stem of the inoculated plants were given to the counted number of larvae of C. Partellus. The mortality of larvae was recorded on daily basis till the pupation. The result shows that maximum percent mortality (86.67%) was recorded at high concentration (20000ppm) of Beauveria bassiana by leaf inoculation method. For oviposition choice bioassay, the newly emerged adults were fed on diet (water, honey and yeast in 9:1:1) for 48 hours. One pair of C. Partellus were aspirated from the rearing cages and were detained in large test tube plugged with diet soaked cotton. A set of four plants for each treatment were prepared and randomized inside the large oviposition chamber. The test tubes were opened and fitted in the hole made in the wall of oviposition chamber in front of each treatment. The oviposition chamber was placed in a completely dark laboratory to eliminate the effect of light on moth’s behavior. The plants were removed from the oviposition chamber after the death of adults. The number of eggs deposited on the plant was counted. The results of 2nd experiment revealed that in all EPF and inoculation methods, the fecundity, egg fertility and growth index of C. partellus decreased with the increase in concentration being significantly higher at low concentration (5000ppm) and lower at higher concentration (20000ppm). Application of B. bassiana demonstrated that minimum fecundity (126.83), egg fertility (119.52) and growth index (15%) in C. partellus followed by M. anisopliae with fecundity (135.93), egg fertility (132.29) and growth index (17.50%) while V. lecanii show higher values of fecundity (137.37), egg fertility (1135.42) and growth index (20%). Overall leaf inoculation method showed least fecundity (123.89) with egg fertility (115.36) and growth index (14%) followed by whorl, shoot inoculation method and root inoculation method show higher values of fecundity, egg fertility and growth index.

Keywords: Beauveria bassiana, Chilo partellus, entomopathoganic, Metarhizium anisopliae, Verticillium lecanii

Procedia PDF Downloads 124

Authors: Ben Morrow, Patrick O'Hara, Natalie Ban, Tunai Marques, Molly Fraser, Christopher Bone

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Relative to commercial fisheries, recreational fisheries are often poorly understood and pose various challenges for monitoring frameworks. In British Columbia (BC), Canada, Pacific salmon are heavily targeted by recreational fishers while also being a key source of nutrient flow and crucial prey for a variety of marine and terrestrial fauna, including endangered Southern Resident killer whales (Orcinus orca). Although commercial fisheries were historically responsible for the majority of salmon retention, recreational fishing now comprises both greater effort and retention. The current monitoring scheme for recreational salmon fisheries involves aerial-roving creel surveys. However, this method has been identified as costly and having low predictive power as it is often limited to sampling fragments of fluid and temporally dynamic fisheries. This study used imagery from two shore-based autonomous cameras in a highly active recreational fishery around Sooke, BC, and evaluated their efficacy in supplementing existing aerial-roving surveys for monitoring a recreational salmon fishery. This study involved continuous monitoring and high temporal resolution (over one million images analyzed in a single fishing season), using a deep learning-based vessel detection algorithm and a custom image annotation tool to efficiently thin datasets. This allowed for the quantification of peak-season effort from a busy harbour, species-specific retention estimates, high levels of detected fishing events at a nearby popular fishing location, as well as the proportion of the fishery management area represented by cameras. Then, this study demonstrated how it could substantially enhance the temporal resolution of a fishery through diel activity pattern analyses, scaled monthly to visualize clusters of activity. This work also highlighted considerable off-season fishing detection, currently unaccounted for in the existing monitoring framework. These results demonstrate several distinct applications of autonomous cameras for providing enhanced detail currently unavailable in the current monitoring framework, each of which has important considerations for the managerial allocation of resources. Further, the approach and methodology can benefit other studies that apply shore-based camera monitoring, supplement aerial-roving creel surveys to improve fine-scale temporal understanding, inform the optimal timing of creel surveys, and improve the predictive power of recreational stock assessments to preserve important and endangered fish species.

Keywords: cameras, monitoring, recreational fishing, stock assessment

Procedia PDF Downloads 110

Authors: Hasna Mekkaoui Alaoui, Mariem Mekkaoui Alaoui

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In a context marked by a growing and pressing demand for online training within Moroccan universities, massive open online courses (Moocs) are undergoing constant evolution, amplified by the widespread use of digital technology and accentuated by the Coronavirus pandemic. However, despite their growing popularity and expansion, these courses are still lacking in terms of tools, enabling teachers and researchers to carry out a fine-grained analysis of the learning processes taking place within them. What's more, the circulation and sharing of knowledge within these environments is becoming increasingly important. The crucial aspect of traceability emerges here, as MOOCs record and generate traces from the most minute to the most visible. This leads us to consider traceability as a valuable approach in the field of educational research, where the trace is envisaged as a research tool in its own right. In this exploratory research project, we are looking at aspects of community knowledge sharing based on traces observed in the "Communication des organisations" Mooc. Focusing in particular on the mediating trace and its impact in identifying knowledge circulation processes in this learning space, we have mobilized the traces of video capsules as an index of knowledge circulation in the Mooc device. Our study uses a methodological approach based on thematic analysis, and although the results show that learners reproduce knowledge from different video vignettes in almost identical ways, they do not limit themselves to the knowledge provided to them. This research offers concrete perspectives for improving the dynamics of online devices, with a potentially positive impact on the quality of online university teaching.

Keywords: circulation, index, digital environments, mediation., trace

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Authors: V. Bezverbny

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The actuality of the project deals with stable growing of deviant behavior’ statistics among Moscow citizens. During the recent years the socioeconomic health, wealth and life expectation of Moscow residents is regularly growing up, but the limits of crime and drug addiction have grown up seriously. Another serious Moscow problem has been economical stratification of population. The cost of identical residential areas differs at 2.5 times. The project is aimed at complex research and the development of methodology for main factors and reasons evaluation of deviant behavior growing in Moscow. The main project objective is finding out the links between the urban environment quality and dynamics of citizens’ deviant behavior in regional and municipal aspect using the statistical research methods and GIS modeling. The conducted research allowed: 1) to evaluate the dynamics of deviant behavior in Moscow different administrative districts; 2) to describe the reasons of crime increasing, drugs addiction, alcoholism, suicides tendencies among the city population; 3) to develop the city districts classification based on the level of the crime rate; 4) to create the statistical database containing the main indicators of Moscow population deviant behavior in 2010-2015 including information regarding crime level, alcoholism, drug addiction, suicides; 5) to present statistical indicators that characterize the dynamics of Moscow population deviant behavior in condition of expanding the city territory; 6) to analyze the main sociological theories and factors of deviant behavior for concretization the deviation types; 7) to consider the main theoretical statements of the city sociology devoted to the reasons for deviant behavior in megalopolis conditions. To explore the level of deviant behavior’ factors differentiation, the questionnaire was worked out, and sociological survey involved more than 1000 people from different districts of the city was conducted. Sociological survey allowed to study the socio-economical and psychological factors of deviant behavior. It also included the Moscow residents’ open-ended answers regarding the most actual problems in their districts and reasons of wish to leave their place. The results of sociological survey lead to the conclusion that the main factors of deviant behavior in Moscow are high level of social inequality, large number of illegal migrants and bums, nearness of large transport hubs and stations on the territory, ineffective work of police, alcohol availability and drug accessibility, low level of psychological comfort for Moscow citizens, large number of building projects.

Keywords: deviant behavior, megapolis, Moscow, urban environment, social stratification

Procedia PDF Downloads 182

Authors: Seung-Min Yang, Seong-Han Park, Sang-Hoon Lee, Seung-Wan Yoo, Chan-Soo Kim, Nong-Moon Hwang

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The theory of charged nanoparticles suggested that in many Chemical Vapour Depositions (CVD) processes, Charged Nanoparticles (CNPs) are generated in the gas-phase and become a building block of thin films and nanowires. Recently, the nanoparticle-based crystallization has become a big issue since the growth of nanorods or crystals by the building block of nanoparticles was directly observed by transmission electron microscopy observations in the liquid cell. In an effort to confirm charged gas-phase nuclei, that might be generated under conventional processing conditions of thin films and nanowires during CVD, we performed an in-situ measurement using differential mobility analyser and particle beam mass spectrometer. The size distribution and number density of CNPs were affected by process parameters such as precursor flow rate and working temperature. It was shown that many films and nanostructures, which have been believed to grow by individual atoms or molecules, actually grow by the building blocks of such charged nuclei. The electrostatic interaction between CNPs and the growing surface induces the self-assembly into films and nanowires. In addition, the charge-enhanced atomic diffusion makes CNPs liquid-like quasi solid. As a result, CNPs tend to land epitaxial on the growing surface, which results in the growth of single crystalline nanowires with a smooth surface.

Keywords: chemical vapour deposition, charged nanoparticle, electrostatic force, nanostructure evolution, differential mobility analyser, particle beam mass spectrometer

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Authors: N. Tumenbayeva

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At the present time in Kazakhstan, the area for saxaul growing is strongly depopulateddue to anthropogenic and other factors. To prevent further reduction of natural haloxylon forest area their artificial crops are offered. Seed germination and survival of young plants in such haloxylon crops are very low. Insects, as one of the most important nutrient factors have appreciable effect on seed germination and saxaul productivity at the all stages of its formation. Insects, feeding on leaves, flowers, seeds and developing inside the trunk, branches, twigs, roots have a change in its formation and influence on the lifespan of saxaul. Representatives of Lepidoptera troop (Lepidopteraare the most harmful pests forsaxaul. As a result of our research we have identified 15 species of Lepidoptera living on haloxylon which display very different cycles and different types of food relations. It allows them to inhabit a variety of habitats, and feeding on various parts of saxaul. Some of them cause significant and sometimes very heavy damage for saxaul. There are 17identified species of Lepidoptera from the Coleophoridaefamily - 1, Gelechidae - 5, Pyralidae - 4, Noctuidae - 4, Lymantridae- 1, Cossidae - 2 species. At the same time we found 8 species for the first time, which have not been mentioned in the literature before. According to food specialization they are divided into monophages (2 types), oligophages (6 species) and polyphages (3 species). By affinity to plant parts, leaves and seeds are fed by 8 species, shoots by 1 specie, scions by 5 species, flowers, scions, seeds by 1, and 2species damage the roots and trunks. In whole installed seasonal groups of Lepidoptera - saxaul pests in the desert area, confined to the certain parts of the year, as well as certain parts of the plant for feeding. Harmfulness, depending on their activity appear during the growing season is also different.

Keywords: saxaul, Lepidoptera, insecta, haloxylon

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Authors: Ozden Saygili, Eser Cakti

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The masonry building stock in Istanbul and in other cities of Turkey are exposed to significant earthquake hazard. Determination of the safety of masonry structures against earthquakes is a complex challenge. This study deals with experimental tests and non-linear dynamic analysis of masonry structures modeled through discrete element method. The 1:10 scale model of Mustafa Paşa Mosque was constructed and the data were obtained from the sensors on it during its testing on the shake table. The results were used in the calibration/validation of the numerical model created on the basis of the 1:10 scale model built for shake table testing. 3D distinct element model was developed that represents the linear and nonlinear behavior of the shake table model as closely as possible during experimental tests. Results of numerical analyses with those from the experimental program were compared and discussed.

Keywords: dynamic analysis, non-linear modeling, shake table tests, masonry

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Authors: Golamhassan Ghahramani Aghdam, Pedram Bavili Tabrizi

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The aim of this research is to investigate the relationship between accounting information and the value of the companies accepted in Tehran Exchange Market. The dependent variable in this research is the value of a company that is measured by price coefficients, and the independent variables are balance sheet information, profit and loss information, cash flow state information, and profit quality characteristics. The profit quality characteristic index is to be related and to be on-time. This research is an application research, and the research population includes all companies that are active in Tehran exchange market. The number of 194 companies was selected by the systematic method as the statistics sample in the period of 2018-2019. The multi-variable linear regression model was used for the hypotheses test. The results show that there is no relationship between accounting information and companies’ value (stock value) that can be due to the lack of efficiency of the investment market and the inability to use the accounting information by investment market activists.

Keywords: accounting information, company value, profit quality characteristics, price coefficient

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Authors: M. Chobotová, Ž. Rylková

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Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.

Keywords: innovation, performance, measurements metrics, indices

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Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

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Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.

Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators

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Authors: M. Irfan Fareed, Muhammad Tahir, Alvina Gul Kazi

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Castor bean (Ricinus communis; family Euphorbiaceae) is cultivated for the production of oil and as an ornamental plant throughout tropical regions. Leaf samples from castor bean plants with leaf curl and vein thickening were collected from areas around Okara (Pakistan) in 2011. PCR amplification using diagnostic primers showed the presence of a begomovirus and subsequently the specific pair (BurNF 5’- CCATGGTTGTGGCAGTTGATTGACAGATAC-3’, BurNR 5’- CCATGGATTCACGCACAGGGGAACCC-3’) was used to amplify and clone the whole genome of the virus. The complete nucleotide sequence was determined to be 2,759 nt (accession No. HE985227). Alignments showed the highest levels of nucleotide sequence identity (98.8%) with Cotton leaf curl Burewala virus (CLCuBuV; accession No. JF416947) No. JF416947). The virus in castor beans lacks on intact C2 gene, as is typical of CLCuBuV in cotton. An amplification product of ca. 1.4 kb was obtained in PCR with primers for betasatellites and the complete nucleotide sequence of a clone was determined to be 1373 nt (HE985228). The sequence showed 96.3% nucleotide sequence identity to the recombinant Cotton leaf curl Multan betasatellite (CLCuMB; JF502389). This is the first report of CLCuBuV and its betasatellite infecting castor bean, showing this plant species as an alternate host of the virus. Already many alternate host have been reported from different alternate host like tobacco, tomato, hibiscus, okra, ageratum, Digera arvensis, habiscus, Papaya and now in Ricinus communis. So, it is suggested that these alternate hosts should be avoided to grow near cotton growing regions.

Keywords: Ricinus communis, begomovirus, betasatellite, agriculture

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Authors: Tomasz Komornicki

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The possibilities of cross-border traffic depend on the degree of permeability of a given border as well as the state of the existing transport infrastructure. The aim of this paper is to identify the impact of economic transformation, EU accession, and infrastructure development on modal shifts in border traffic through the Polish eastern boundary. In the 1980s railway was still the main mode of cross-border transport in Poland. At the beginning of the 1990s, the role of the road and rail transborder passenger traffic was similar, but since 1993, the role of rail was decreasing. The general decline in rail infrastructure in Poland continued uninterruptedly until accession to the European Union. The slow opposite trend can be observed later as a result of the inflow of European funds. In the countries neighbouring Poland from the east, these processes took place with some delay, and the loss of railway position was not so drastic. Therefore, cross-border railway connections have been maintained for quite a long time since the break-up of the USSR. However, finally, cross-border rail transport proved to be completely inflexible in relation to both economic, geopolitical, and transport transformations. It has been shown that the current modal split of the passenger border traffic was shaped by the following factors: a) closure of many transborder railway lines, especially local ones; b) the signing of an agreement on minor border traffic with Ukraine; c) rapidly growing number of citizens of Ukraine working in Poland (unofficial transportation of workers by car directly to their workplaces in Poland); d) the emergence of low-cost air connections between Ukraine and Poland and the growing role of air transport in the Russia-Poland relationship. The summary points to the possibility of a renewed increase in the importance of rail transport on the eastern border of the European Union.

Keywords: modal change, border, rail transport, Poland

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Authors: Chin Tangtarntana

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The main purpose of this study was to investigate the effects of animation in offensive product advertising. Experiment was conducted to collect consumer responses toward animated and static ads of offensive and non-offensive products. The study was conducted by distributing questionnaires to the target respondents. According to statistics from Innovative Internet Research Center, Thailand, majority of internet users are 18 – 44 years old. The results revealed an interaction between ad design and offensive product. Specifically, when used in offensive product advertisements, animated ads were not effective for consumer attention, but yielded positive response in terms of attitude toward product. The findings support that information processing model is accurate in predicting consumer cognitive response toward cartoon ads, whereas U&G, arousal, and distinctive theory is more accurate in predicting consumer affective response. In practical, these findings can also be used to guide ad designers and marketers that are suitable for offensive products.

Keywords: animation, banner ad design, consumer responses, offensive product advertising, stock exchange of Thailand

Procedia PDF Downloads 254

Authors: Y. Hajjam, I. T. Alami, S. M. Udupa, S. Cherkaoui

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Faba bean (Vicia faba L.) is an important food legume crop in Morocco. It is mainly used as human food and feed for animals. Faba bean also plays an important role in cereal-based cropping systems, when rotated with cereals it improves soil fertility by fixing N2 in root nodules mediated by Rhizobium. Both faba bean and its biological nitrogen fixation symbiotic bacterium Rhizobium are affected by different stresses such as: salinity, drought, pH, heavy metal, and the uptake of inorganic phosphate compounds. Therefore, the aim of the present study was to evaluate the phenotypic diversity among the faba bean rhizobial isolates and to select the tolerant strains that can fix N2 under environmental constraints for inoculation particularly for affected soils, in order to enhance the productivity of faba bean and to improve soil fertility. Result have shown that 62% of isolates were fast growing with the ability of producing acids compounds , while 38% of isolates are slow growing with production of alkalins. Moreover, 42.5% of these isolates were able to solubilize inorganic phosphate Ca3(PO4)2 and the index of solubilization was ranged from 2.1 to 3.0. The resistance to extreme pH, temperature, water stress heavy metals and antibiotics lead us to classify rhizobial isolates into different clusters. Finally, the authentication test under greenhouse conditions showed that 55% of the rhizobial isolates could induce nodule formation on faba bean (Vicia faba L.) under greenhouse experiment. This phenotypic characterization may contribute to improve legumes and non legumes crops especially in affected soils and also to increase agronomic yield in the dry areas.

Keywords: rhizobia, vicia faba, phenotypic characterization, nodule formation, environmental constraints

Procedia PDF Downloads 237

Authors: Dan Kanmegne

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Africa will become the most populated continent by the end of the century, with around 4 billion inhabitants. Food security and climate changes will become continental issues since agricultural practices depend on climate but also contribute to global emissions and land degradation. Agroforestry has been identified as a cost-efficient and reliable strategy to address these two issues. It is defined as the integrated management of trees and crops/animals in the same land unit. Agroforestry provides benefits in terms of goods (fruits, medicine, wood, etc.) and services (windbreaks, fertility, etc.), and is acknowledged to have a great potential for carbon sequestration; therefore it can be integrated into reduction mechanisms of carbon emissions. Particularly in sub-Saharan Africa, the constraint stands in the lack of information about both areas under agroforestry and the characterization (composition, structure, and management) of each agroforestry system at the country level. This study describes and quantifies “what is where?”, earliest to the quantification of carbon stock in different systems. Remote sensing (RS) is the most efficient approach to map such a dynamic technology as agroforestry since it gives relatively adequate and consistent information over a large area at nearly no cost. RS data fulfill the good practice guidelines of the Intergovernmental Panel On Climate Change (IPCC) that is to be used in carbon estimation. Satellite data are getting more and more accessible, and the archives are growing exponentially. To retrieve useful information to support decision-making out of this large amount of data, satellite data needs to be organized so to ensure fast processing, quick accessibility, and ease of use. A new solution is a data cube, which can be understood as a multi-dimensional stack (space, time, data type) of spatially aligned pixels and used for efficient access and analysis. A data cube for Burkina Faso has been set up from the cooperation project between the international service provider WASCAL and Germany, which provides an accessible exploitation architecture of multi-temporal satellite data. The aim of this study is to map and characterize agroforestry systems using the Burkina Faso earth observation data cube. The approach in its initial stage is based on an unsupervised image classification of a normalized difference vegetation index (NDVI) time series from 2010 to 2018, to stratify the country based on the vegetation. Fifteen strata were identified, and four samples per location were randomly assigned to define the sampling units. For safety reasons, the northern part will not be part of the fieldwork. A total of 52 locations will be visited by the end of the dry season in February-March 2020. The field campaigns will consist of identifying and describing different agroforestry systems and qualitative interviews. A multi-temporal supervised image classification will be done with a random forest algorithm, and the field data will be used for both training the algorithm and accuracy assessment. The expected outputs are (i) map(s) of agroforestry dynamics, (ii) characteristics of different systems (main species, management, area, etc.); (iii) assessment report of Burkina Faso data cube.

Keywords: agroforestry systems, Burkina Faso, earth observation data cube, multi-temporal image classification

Procedia PDF Downloads 131

Authors: Olalekan Adekola, Margaret Gatonye, Paul Orina

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The growing demand for farmed fish by underdeveloped and developing countries as a means of contributing positively towards eradication of hunger, food insecurity, and malnutrition for their fast growing populations has implications to the environment. Likewise, climate change poses both an immediate and future threat to local fish production with capture fisheries already experiencing a global decline. This not only raises fundamental questions concerning how aquaculture practices affect the environment, but also how ready are aquaculture farmers to adapt to climate related hazards. This paper assesses existing aquaculture practices and approaches to adapting to climate hazards in Kenya, where aquaculture has grown rapidly since the year 2009. The growth has seen rise in aquaculture set ups mainly along rivers and streams, importation of seed and feed and intensification with possible environmental implications. The aquaculture value chain in the context of climate change and their implication for practice is further investigated, and the strategies necessary for an improved implementation of resilient aquaculture system in Kenya is examined. Data for the study are collected from interviews, questionnaires, two workshops and document analysis. Despite acclaimed nutritional benefit of fish consumption in Kenya, poor management of effluents enriched with nitrogen, phosphorus, organic matter, and suspended solids has implications not just on the ecosystem, goods, and services, but is also potential source of resource-use conflicts especially in downstream communities and operators in the livestock, horticulture, and industrial sectors. The study concluded that aquaculture focuses on future orientation, climate resilient infrastructure, appropriate site selection and invest on biosafety as the key sustainable strategies against climate hazards.

Keywords: aquaculture, resilience, environment, strategies, Kenya

Procedia PDF Downloads 153

Authors: Birome Holo Ba, Christian Prins, Caroline Prodhon

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Optimization is an important aspect of logistics management. It can reduce significantly logistics costs and also be a good tool for decision support. In this paper, we address a planning problem specific to biomass supply chain. We propose a new mixed integer linear programming (MILP) model dealing with different feed stock production operations such as harvesting, packing, storage, pre-processing and transportation, with the objective of minimizing the total logistic cost of the system on a regional basis. It determines the optimal number of harvesting machine, the fleet size of trucks for transportation and the amount of each type of biomass harvested, stored and pre-processed in each period to satisfy demands of refineries in each period. We illustrate the effectiveness of the proposal model with a numerical example, a case study in Aube (France department), which gives preliminary and interesting, results on a small test case.

Keywords: biomass logistics, supply chain, modelling, optimization, bioenergy, biofuels

Procedia PDF Downloads 505

Authors: Aroona Hashmi

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An economic recession can lead people to feel more insecure about their financial situation. The series of events leading into a recession can be especially distressing for Educated Youth. One of the most salient factors linking economic recession to psychological distress is unemployment. It is proved that a large number of educated young people are facing higher unemployment rate in Pakistan. Young people are likely to get frustrated at the lack of opportunities made available to them. If the young population increases more rapidly than job opportunities, then number of unemployment is likely to increase. The aim of present study was to investigate the relationship between economic instability, growing rate of aggression and frustration among educated youth. The study aimed to find out the impact of increased economic instability on the learning abilities of the students. Data was gathered from six university students of Punjab, Pakistan. The sample of the study consisted of three hundred male and female university students. The data was analyzed by applying Chi -square test. The results of the research indicate that there is a significant relationship between low household income and growing rate of aggression among educated youth. The increasing trend of economic instability significantly influences the learning abilities of the students. The study concludes that feeling of deprivation produce frustration and could be expressed through aggression. Therefore, if factors that are responsible for youth unemployment in Pakistan are addressed, psychological effects will be reduced. The right way of tackling the youth bulge is to turn the youth into a productive workforce. There is a dire need to transform the education system to societal needs. At the same time creating demand for the young workforce is achieved through dynamic changes in the economic structure.

Keywords: psychological effects, economic recession, educated youth, environmental factors

Procedia PDF Downloads 376

Authors: Serhat Tüzün, Tufan Demirel

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Decision Support Systems (DSS) have been investigated by researchers and technologists for more than 35 years. This paper analyses the developments in the architecture and software of these systems, provides a systematic analysis for different Web-based DSS approaches and Intelligent Decision-making Technologies (IDT), with the suggestion for future studies. Decision Support Systems literature begins with building model-oriented DSS in the late 1960s, theory developments in the 1970s, and the implementation of financial planning systems and Group DSS in the early and mid-80s. Then it documents the origins of Executive Information Systems, online analytic processing (OLAP) and Business Intelligence. The implementation of Web-based DSS occurred in the mid-1990s. With the beginning of the new millennia, intelligence is the main focus on DSS studies. Web-based technologies are having a major impact on design, development and implementation processes for all types of DSS. Web technologies are being utilized for the development of DSS tools by leading developers of decision support technologies. Major companies are encouraging its customers to port their DSS applications, such as data mining, customer relationship management (CRM) and OLAP systems, to a web-based environment. Similarly, real-time data fed from manufacturing plants are now helping floor managers make decisions regarding production adjustment to ensure that high-quality products are produced and delivered. Web-based DSS are being employed by organizations as decision aids for employees as well as customers. A common usage of Web-based DSS has been to assist customers configure product and service according to their needs. These systems allow individual customers to design their own products by choosing from a menu of attributes, components, prices and delivery options. The Intelligent Decision-making Technologies (IDT) domain is a fast growing area of research that integrates various aspects of computer science and information systems. This includes intelligent systems, intelligent technology, intelligent agents, artificial intelligence, fuzzy logic, neural networks, machine learning, knowledge discovery, computational intelligence, data science, big data analytics, inference engines, recommender systems or engines, and a variety of related disciplines. Innovative applications that emerge using IDT often have a significant impact on decision-making processes in government, industry, business, and academia in general. This is particularly pronounced in finance, accounting, healthcare, computer networks, real-time safety monitoring and crisis response systems. Similarly, IDT is commonly used in military decision-making systems, security, marketing, stock market prediction, and robotics. Even though lots of research studies have been conducted on Decision Support Systems, a systematic analysis on the subject is still missing. Because of this necessity, this paper has been prepared to search recent articles about the DSS. The literature has been deeply reviewed and by classifying previous studies according to their preferences, taxonomy for DSS has been prepared. With the aid of the taxonomic review and the recent developments over the subject, this study aims to analyze the future trends in decision support systems.

Keywords: decision support systems, intelligent decision-making, systematic analysis, taxonomic review

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Authors: Giriraj Achari, Malay Bhattacharyya

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In this paper, the effectiveness of Copula Markov Switching Multifractal (MSM) models at forecasting Value-at-Risk of a two-stock portfolio is studied. The innovations are allowed to be drawn from distributions that can capture skewness and leptokurtosis, which are well documented empirical characteristics observed in financial returns. The candidate distributions considered for this purpose are Johnson-SU, Pearson Type-IV and α-Stable distributions. The two univariate marginal distributions are combined using the Student-t copula. The estimation of all parameters is performed by Maximum Likelihood Estimation. Finally, the models are compared in terms of accurate Value-at-Risk (VaR) forecasts using tests of unconditional coverage and independence. It is found that Copula-MSM-models with leptokurtic innovation distributions perform slightly better than Copula-MSM model with Normal innovations. Copula-MSM models, in general, produce better VaR forecasts as compared to traditional methods like Historical Simulation method, Variance-Covariance approach and Copula-Generalized Autoregressive Conditional Heteroscedasticity (Copula-GARCH) models.

Keywords: Copula, Markov Switching, multifractal, value-at-risk

Procedia PDF Downloads 155

Authors: Alfonso Ippolito, Cristiana Bartolomei

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A growing demand is felt today for realistic 3D models enabling the cognition and popularization of historical-artistic heritage. Evaluation and preservation of Cultural Heritage is inextricably connected with the innovative processes of gaining, managing, and using knowledge. The development and perfecting of techniques for acquiring and elaborating photorealistic 3D models, made them pivotal elements for popularizing information of objects on the scale of architectonic structures.

Keywords: cultural heritage, databases, non-contact survey, 2D-3D models

Procedia PDF Downloads 412