Search results for: oil price volatility

Authors: Daomao Yang, Qizhi Wang

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Monoterpenoids are mainly found in plant essential oils and they are ideal substrates for biotransformation into oxygen-containing derivatives with important commercial value due to their low price and simple structure. In this paper, eleven strains of endophytic fungi from Praxelis clematidea were used as test strains to conduct the whole cell biotransformation of the monoterpenoids: (+)-limonene, (-)-limonene and myrcene. The fungi were inoculated in 50 ml Sabouraud medium and incubated at 30 ℃ with the agitation of 150 r/min for 6 d, and then 0.5% (v/v) substrates were added into the medium and biotransformed for further 3 d. Afterwards the cultures were filtered, and extracted using equal volume of ethyl acetate. The metabolites were analyzed by GC-MS technique with NIST database. The Total Ion Chromatogram of the extractions from the eleven strains showed that the main product of (+)- and (-)-limonene biotransformation was limonene-1,2-diol, while it is limonene and linalool oxide for biotransformation of myrcene. This work will help screen the microorganisms to biotransform the monoterpenes.

Keywords: endophytic fungi, (+)–limonene, (-)–limonene, myrcene

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Authors: Rosyidah, Permata Wulandari

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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).

Keywords: abnormal return, abnormal volume, event study, index changes, sharia index

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Authors: Miroslav Gutten, Daniel Korenciak, Milan Simko, Milan Chupac

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Ensure the reliable and correct function of transformers is the main essence of on-line non-destructive diagnostic tool, which allows the accurately track of the status parameters. Devices for on-line diagnostics are very costly. However, there are devices, whose price is relatively low and when used correctly, they can be executed a complex diagnostics. One of these devices is sensor HYDRAN M2, which is used to detect the moisture and gas content in the insulation oil. Using the sensor HYDRAN M2 in combination with temperature, load measurement, and physicochemical analysis can be made the economically inexpensive diagnostic system, which use is not restricted to distribution transformers. This system was tested in educational laboratory environment at measured oil transformer 22/0.4 kV. From the conclusions referred in article is possible to determine, which kind of fault was occurred in the transformer and how was an impact on the temperature, evolution of gases and water content.

Keywords: transformer, diagnostics, gas and moisture sensor, monitoring

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Authors: Agoston Restas

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Introduction: In case of managing disasters decision makers can face many times such a special situation where any pre-sign of the drastically change is missing therefore the improvised decision making can be required. The complexity, ambiguity, uncertainty or the volatility of the situation can require many times the improvisation as decision making. It can be taken at any level of the management (strategic, operational and tactical) but at tactical level the main reason of the improvisation is surely time pressure. It is certainly the biggest problem during the management. Methods: The author used different tools and methods to achieve his goals; one of them was the study of the relevant literature, the other one was his own experience as a firefighting manager. Other results come from two surveys that are referred to; one of them was an essay analysis, the second one was a word association test, specially created for the research. Results and discussion: This article proves that, in certain situations, the multi-criteria, evaluating decision-making processes simply cannot be used or only in a limited manner. However, it can be seen that managers, directors or commanders are many times in situations that simply cannot be ignored when making decisions which should be made in a short time. The functional background of decisions made in a short time, their mechanism, which is different from the conventional, was studied lately and this special decision procedure was given the name recognition-primed decision. In the article, author illustrates the limits of the possibilities of analytical decision-making, presents the general operating mechanism of recognition-primed decision-making, elaborates on its special model relevant to managers at tactical level, as well as explore and systemize the factors that facilitate (catalyze) the processes with an example with fire managers.

Keywords: decision making, disaster managers, recognition primed decision, model for making decisions in emergencies

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Authors: Djermani Farouk, Sri Rahayu Hijrah Hati, Fenitra Maminirin, Permata Wulandari

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This study investigates the implications of Artificial Intelligence Marketing (AIM) marketing mix (PRD) Product, (PRC) Price, (PRM), Promotion and (PLC) Place on consumption patterns of halal food (CPHF). A quantitative approach was adopted in this study and responses were obtained from 350 Indonesian consumers. Using Partial Least Squares-Structural Equation Modeling (PLS-SEM), the results show that there is a direct support of marketing mix (PRD, PRC, PLC) to AIM and CPHF, while PRM does not play a significant role in CPHF. In addition, the findings reveal that AIM mediates significantly the relationship between PLC, PRC and PRM and CPHF, while AIM indicates no mediation between PRD and CPHF. Indonesian consumer’s exhibit serious concerns with consumption patterns of halal food. it is recommended that managers focus their attention on marketing strategies to predict consumer behavior in terms of consumption patterns of halal food through the integration of AIM.

Keywords: marketing mix, consumption patterns, artificial intelligence marketing, Halal food

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Authors: S. Agheb, G. Ledwich, G.Walker, Z.Tong

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Frequency control has become more of concern for reliable operation of interconnected power systems due to the integration of low inertia renewable energy sources to the grid and their volatility. Also, in case of a sudden fault, the system has less time to recover before widespread blackouts. Electric Vehicles (EV)s have the potential to cooperate in the Emergency Frequency Regulation (EFR) by a nonlinear control of the power system in case of large disturbances. The time is not adequate to communicate with each individual EV on emergency cases, and thus, an aggregate model is necessary for a quick response to prevent from much frequency deviation and the occurrence of any blackout. In this work, an aggregate of EVs is modelled as a big virtual battery in each area considering various aspects of uncertainty such as the number of connected EVs and their initial State of Charge (SOC) as stochastic variables. A control law was proposed and applied to the aggregate model using Lyapunov energy function to maximize the rate of reduction of total kinetic energy in a two-area network after the occurrence of a fault. The control methods are primarily based on the charging/ discharging control of available EVs as shunt capacity in the distribution system. Three different cases were studied considering the locational aspect of the model with the virtual EV either in the center of the two areas or in the corners. The simulation results showed that EVs could help the generator lose its kinetic energy in a short time after a contingency. Earlier estimation of possible contributions of EVs can help the supervisory control level to transmit a prompt control signal to the subsystems such as the aggregator agents and the grid. Thus, the percentage of EVs contribution for EFR will be characterized in the future as the goal of this study.

Keywords: emergency frequency regulation, electric vehicle, EV, aggregation, Lyapunov energy function

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Authors: Mohadese Hashemi, Elham Akhoundi Kharanaghi, Fatemeh Haghiralsadat, Mojgan Yazdani, Omid Javani, Mahboobe Sharafodini, Davood Rajabi

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Niosomes are non-ionic surfactant vesicles in aqueous media resulting in closed bilayer structures that can be used as carriers of hydrophilic and hydrophobic compounds. The use of niosomes for encapsulation of essential oils (EOs) is an attractive new approach to overcome their physicochemical stability concerns include sensibility to oxygen, light, temperature, and volatility, and their reduced bioavailability which is due to low solubility in water. EOs are unstable and fragile volatile compounds which have strong interest in pharmaceutical due to their medicinal properties such as antiviral, anti-inflammatory, antifungal, and antioxidant activities without side effects. Trachyspermum copticum (ajwain) is an annual aromatic plant with important medicinal properties that grows widely around Mediterranean region and south-west Asian countries. The major components of the ajwain oil were reported as thymol, γ-terpinene, p-cymene, and carvacrol which provide antimicrobial and antioxidant activity. The aim of this work was to formulate ajwain essential oil-loaded niosomes to improve water solubility of natural product and evaluate its physico-chemical features and stability. Ajwain oil was obtained through steam distillation using a clevenger-type apparatus and GC/MS was applied to identify the main components of the essential oil. Niosomes were prepared by using thin film hydration method and nanoparticles were characterized for particle size, dispersity index, zeta potential, encapsulation efficiency, in vitro release, and morphology.

Keywords: trachyspermum copticum, ajwain, niosome, essential oil, encapsulation

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Authors: Hari Krishna Ayyappa, Reenu Singh

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Rising population and restricted land for development has led towards the growth of vertical buildings and small complexes. It provides many possibilities to change the shape and size of internal space in addition to the social impacts on the commercial spaces. With the increased volatility of necessities of people, the need for mental and physical comfort has continuously increased. . Living in a small space musts minimalist and space- saving cabinetwork results to sustain mortal good. This paper attempts to explore the Influence of Using Minimalist Furniture on the Efficiency of the commercial Space interiors by means of the variable resulting from preceding studies based on literature. A literature review was conducted on research articles to understand the contributing variables in a well designed small commercial spaces. A questionnaire survey was conducted to understand the layout of small commercial spaces with respect to Environmental impact, material, Design elements, Modern approach, Layered lightings, and colours. The problem of small spaces can be resolved by some ways; it's still needed for cabinetwork to develop to be more innovative to accommodate small living spaces. Since cabinetwork is a necessity and not luxury, everybody is in need of it. The spatial factors affecting overall satisfaction at a detailed position were bandied. The variable helped in proposing design ideation and mock ups to explore improved interiors. This paper concludes that most of the principles of the minimalist approach have been overlooked at, which had an impact on the space efficiency in commercial spaces like storage rooms, office area, retail stores, restaurants, and other spaces where business is conducted.

Keywords: materials, modern approach, space efficiency, tall commercial buildings

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Authors: Chonlada Choovanichchanon

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This research paper was aimed to investigate a relationship between the customer service marketing mix and the level of customers’ satisfaction from purchasing goods and service from small business around campus, Suan Sunandha Rajabhat University, Bangkok, Thailand. Based on the survey of 200 customers who frequently purchased goods and service around campus, the level of satisfaction for each factor of marketing mix was reached. An accidental random sampling was applied by using questionnaire in collecting the data. The findings revealed that the means values can help to rank these variables from high to low mean as follows: 1) forms and system of service, 2) physical environment of service center, 3) service from staff and employee, 4) product quality and service, 5) market channel and distribution, 6) market price, and 7) market promotion and distribution.

Keywords: service marketing mix, satisfaction, small business, survey

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of thirty-six factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: cost, overrun, building construction projects, Jordan

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Authors: Jin Chuhao, Chen Xiang

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In recent years, due to the rapid development of Chinese urbanization, a great deal of rural population surge into urban to make a living. This fact causes the vicious circulation of rural development including sharp decrease of agricultural labor force in rural area, the obvious increase of rural land price, the shrinking of traditional agriculture and the bigger gap between Chinese urban and rural areas. With the improvement of living condition and ideological level of the Chinese people, the use and renewal of the traditional villages are gaining more and more attention, thus agricultural cultural and creative industries appears. Basing on the investigation of practical projects, this paper discusses how the agricultural cultural and creative industries promote the sustainable development of Chinese rural areas.

Keywords: sustainable design, Chinese rural areas, renewal, agricultural cultural and creative industries

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Authors: Massimiliano Frezza, Sergio Bianchi, Augusto Pianese

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Introduced by Shannon in 1948 in the field of information theory as the average rate at which information is produced by a stochastic set of data, the concept of entropy has gained much attention as a measure of uncertainty and unpredictability associated with a dynamical system, eventually depicted by a stochastic process. In particular, the Shannon entropy measures the degree of order/disorder of a given signal and provides useful information about the underlying dynamical process. It has found widespread application in a variety of fields, such as, for example, cryptography, statistical physics and finance. In this regard, many contributions have employed different measures of entropy in an attempt to characterize the financial time series in terms of market efficiency, market crashes and/or financial crises. The Shannon entropy has also been considered as a measure of the risk of a portfolio or as a tool in asset pricing. This work investigates the theoretical link between the Shannon entropy and the multifractional Brownian motion (mBm), stochastic process which recently is the focus of a renewed interest in finance as a driving model of stochastic volatility. In particular, after exploring the current state of research in this area and highlighting some of the key results and open questions that remain, we show a well-defined relationship between the Shannon (log)entropy and the memory function H(t) of the mBm. In details, we allow both the length of time series and time scale to change over analysis to study how the relation modify itself. On the one hand, applications are developed after generating surrogates of mBm trajectories based on different memory functions; on the other hand, an empirical analysis of several international stock indexes, which confirms the previous results, concludes the work.

Keywords: Shannon entropy, multifractional Brownian motion, Hurst–Holder exponent, stock indexes

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Authors: Bashir Muhammad

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The present research contains the definition of the internet, the inter-relationship between and globalization as well as the divergent views of scholars on internet net-work. Additionally, both the positive and the negative impacts of the internet on Muslim communities were elucidated. As an example, it is part of the positive effect that the internet constitutes a vital source of vast information and data acquisition in various academic sciences in general and Islamic Studies in particular. The most recent and current facts and scientific discoveries by specialists of various ramifications could be fund as fast as possible. Many other exciting points were also cited. And on the negative side of the internet, among many other points, it releases uncontrolled promiscuous pictures and sometimes misguiding information about Islam, which could gradually and easily destroy the sound moral up bring of our young Muslim generation and pollute their positive thinking and reasoning. Another problem is that, Muslims in most cases pertaining to internet services are passive consumers, having no power to control it and manipulate it for their welfare and well being. Due to that, they have to pay the price for that, directly or indirectly.

Keywords: internet, muslim, challenges, communities

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Authors: Camila Lee Park, Mauro Fracarolli Nunes

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Understood as the preference for products and services that do not involve moral dilemmas, ethical consumption has been increasingly discussed by scholars, practitioners, and consumers. Among its diverse trends, the defense of animal rights and welfare seems to have gained particular momentum in past decades. Not surprisingly, companies, governments, ideologues, and virtually any institution or group interested in (re)shaping society invest in the building of narratives oriented to influence consumption behavior. The animal rights movement, for example, is devoted to the elimination of the use of animals in science, as well as of commercial animal agriculture and hunting activities. Although advances in ethical consumption may be observed in practice, it still seems more popular as rhetoric. Diverse scholars have addressed the disparities between self-professed ethical consumers and their actual purchase patterns, with differences being attributed to factors such as price sensitivity, lack of information, quality, cynicism, and limited availability. The gap is also linked to the 'consumer sovereignty myth', according to which consumers are only able to choose from a pre-determined range of choices made before products reach them. On the other hand, academics also debate ethical consumption behavior as more likely to occur when it assumes compliance with social norms. As sustainability becomes a permanent issue, customers may tend to adhere to ethical consumption, either because of an individual value or due to a social one. Regardless of these efforts, the actual value attributed to ethical businesses remains unclear. Likewise, the power of stakeholders’ initiatives to influence corporate strategies is dubious. In search to offer new perspectives on these matters, the present study concentrates on the following research questions: Do customers value products/companies that respect animal rights? If so, does such enhanced value convert into actions from the part of the companies? Broadly, we aim to understand if customers’ perception holds performative traits (i.e., are capable of either trigger or contribute to changes in organizational behaviour around the respect for animal rights). In addressing these issues, two preliminary behavioral vignette-based experiments were conducted, with the perspectives of 307 participants being assessed. Building on a case of the cosmetics industry, social, emotional, and functional values were hypothesized as directly impacting positive word-of-mouth, which, in turn, would carry direct effects on purchase intention. A first structural equation model was analyzed with the combined samples of studies I and II. Results suggest that emotional value strongly impacts both positive word-of-mouth and purchase intention. Data confirms initial expectations on customers valuing products and companies that comply with ethical postures concerning animals, especially if social-oriented practices are also present.

Keywords: animal rights, business ethics, emotional value, ethical consumption

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Authors: Mihir Kothari, Heena Khan, Vivek Rathod

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Assessment of binocular single vision field (BSVF) is traditionally done using a Goldmann perimeter. The measurement of BSVF is important for the management of incomitant strabismus, viz. orbital fractures, thyroid orbitopathy, oculomotor cranial nerve palsies, Duane syndrome etc. In this paper, we describe a new technique for measuring BSVF using a CROM device. Goldmann perimeter is very bulky and expensive (Euro 5000.00 or more) instrument which is 'almost' obsolete from the contemporary ophthalmology practice. Whereas, CROM can be easily made in the DIY (do it yourself) manner for the fraction of the price of the perimeter (only Euro 15.00). Moreover, CROM is useful for the accurate measurement of ocular torticollis vis. nystagmus, paralytic or incomitant squint etc, and it is highly portable.

Keywords: binocular single vision, perimetry, cervical rgen of motion, visual field, binocular single vision field

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Authors: Yuan Tian, Benhe Gao

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This paper aims to investigate a two stage supply chain of one leading supplier and one following retailer that experiences two factors perturbation out of supplier's production cost, retailer's marginal cost and retail price in stochastic demand environment. Granted that risk neutral condition has long been discussed, little attention has been given to disruptions under the premise of risk neutral supplier and risk aversion retailer. We establish the optimal order quantity and revealed the profit distribution coefficient in risk-neutral static model, make adjustment under disruption scenario, and then select utility function method for risk aversion model. Using buy-back contract policy, the improvement of parameters can achieve channel coordination where Pareto optimal is realized.

Keywords: supply chain coordination, disruption management, buy-back contract, lose aversion

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Authors: A. Boateng, La Gil-Alana, M. Lesaoana; Hj. Siweya, A. Belete

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This study examines long memory or long-range dependence in the CPI inflation rates of Ghana and South Africa using Whittle methods and autoregressive fractionally integrated moving average (ARFIMA) models. Standard I(0)/I(1) methods such as Augmented Dickey-Fuller (ADF), Philips-Perron (PP) and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests were also employed. Our findings indicate that long memory exists in the CPI inflation rates of both countries. After processing fractional differencing and determining the short memory components, the models were specified as ARFIMA (4,0.35,2) and ARFIMA (3,0.49,3) respectively for Ghana and South Africa. Consequently, the CPI inflation rates of both countries are fractionally integrated and mean reverting. The implication of this result will assist in policy formulation and identification of inflationary pressures in an economy.

Keywords: Consumer Price Index (CPI) inflation rates, Whittle method, long memory, ARFIMA model

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Authors: Maruska Vizek, Josip Glaurdic, Marina Tkalec, Goran Vuksic

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We empirically explore whether and how taxation affects bilateral real exchange rates in the euro area – relative unit labor costs and relative consumer price indices. We find that employers’ social security contributions and the value added tax changes have the expected effects put forward in the fiscal devaluation literature and simulations. Increases in employers’ contributions appreciate the relative unit labor costs in the short- and the long-run, while value added tax hike appreciates the relative consumer prices. Somewhat surprisingly, for personal income tax increases, we find a short-run depreciating impact on the relative unit labor costs, while increases in employees’ contributions depreciate both measures of real exchange rates in the short-run.

Keywords: sovereign bonds, European Union, developing countries, political determinants

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Authors: O. Alaa, D. Ahmed, R. Baher, K. Matjaz

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This paper provides a study of the factors influencing the purchasing of low emission vehicles. In order to achieve the objectives of the paper, and in the light of the pool of literature and availability of data, the authors relied on qualitative methods to offers a comparison between Egypt as a developing country and Slovenia as a developed country, through analysing a survey that involves an Egyptian sample and Slovenian samples, it also studies the effect of different push and pull methods on different buyers in order to help the governments as well as the manufacturers to understand the most significant factors that affect the purchasing behaviour of LEV in the future. The results of this paper show the important vehicle performance factors, financial considerations, and environmental considerations along with the gender and age of the consumer show that consumers are more interested in the total price of the car than in different taxes.

Keywords: low emission vehicles, purchasing behavior, developed countries, developing countries

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Authors: Swati Sundararajan, Asit B. Samui, Prashant S. Kulkarni

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Polymeric ionic liquids combine the properties of ionic liquids and polymers into a single material which has gained massive interest in the recent years. These ionic liquids offer several advantages such as high phase change enthalpy, wide temperature range, chemical and thermal stability, non-volatility and the ability to make them task-specific. Separation of CO2 is an area of critical importance due to the concerns over greenhouse gasses leading to global warming. Thermal energy storage materials, also known as phase change materials absorb latent heat during fusion process and release the absorbed energy to the surrounding environment during crystallization. These materials retain this property over a number of cycles and therefore, are useful for bridging the gap between energy requirement and use. In an effort to develop materials, which will help in minimizing the growing energy demand and environmental concerns, a series of dicationic poly(ethylene glycol) based polymeric ionic liquids were synthesized. One part of an acrylate of poly(ethylene glycol) was reacted with imidazolium quarternizing agent and the second part was reacted with triazolium quarternizing agent. These two different monomers were then copolymerized to prepare dicationic polymeric ionic liquid. These materials were characterized for solid-liquid phase transition and the enthalpy by using differential scanning calorimetry. The CO2 capture studies were performed on a fabricated setup with varying pressure range from 1-20 atm. The findings regarding the prepared materials, having potential dual applications in the fields of thermal energy storage and CO2 capture, will be discussed in the presentation.

Keywords: CO2 capture, phase change materials, polyethylene glycol, polymeric ionic liquids, thermal energy storage

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Authors: Morteza Giti

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As online shopping is becoming increasingly popular, computing customer lifetime value for better knowing the customers is also gaining more importance. Two distinct factors that can affect the value of a customer in the context of online shopping is the number of returned orders and payment method. Returned orders are those which have been shipped but not collected by the customer and are returned to the store. Payment method refers to the way that customers choose to pay for the price of the order which are usually two: Pre-pay and Cash-on-delivery. In this paper, a novel model called RFMSP is presented to calculated the customer lifetime value, taking these two parameters into account. The RFMSP model is based on the common RFM model while adding two extra parameter. The S represents the order status and the P indicates the payment method. As a case study for this model, the purchase history of customers in an online shop is used to compute the customer lifetime value over a period of twenty months.

Keywords: RFMSP model, AHP, customer lifetime value, k-means clustering, e-commerce

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Authors: Pushkar Umaranikar, Chris Pollett

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An online advertisement system and its implementation for the Yioop open source search engine are presented. This system supports both selling advertisements and displaying them within search results. The selling of advertisements is done using a system to auction off daily impressions for keyword searches. This is an open, ascending price auction system in which all accepted bids will receive a fraction of the auctioned day’s impressions. New bids in our system are required to be at least one half of the sum of all previous bids ensuring the number of accepted bids is logarithmic in the total ad spend on a keyword for a day. The mechanics of creating an advertisement, attaching keywords to it, and adding it to an advertisement inventory are described. The algorithm used to go from accepted bids for a keyword to which ads are displayed at search time is also presented. We discuss properties of our system and compare it to existing auction systems and systems for selling online advertisements.

Keywords: online markets, online ad system, online auctions, search engines

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Authors: Kanmanas Muensak, Somphoom Saweangkun

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The objectives of this research were to study the consumer behavior that affects the customer loyalty of CP Fresh Mart in Bangkok province. The sample of the study comprised 400 consumers over 15 years old who made the purchase through CP Fresh Mart in Bangkok. The questionnaires were used as the data gathering instrument, and the data were analyzed applying Percentage, Mean, Standard Deviation, Independent Sample t-test, Two- Way ANOVA, and Least Significant Difference, and Pearson’s Correlation Coefficient also. The result of hypothesis testing showed that the respondents of different gender, age, level of education, income, marital status and occupation had differences in consumer behavior through customer loyalty of CP Fresh Mart and the factors on customer loyalty in the aspects of re-purchase, word of mouth and price sensitive, promotion, process, and personnel had positive relationship with the consumer behavior through of CP Fresh Mart in Bangkok as well as.

Keywords: consumers in Bangkok, consumer behavior, customer loyalty, CP Fresh Mart, operating budget

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Authors: Nilay Tanrıver, Birgül Benli, Nilgün Kızılcan

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Polysulfone (PSU) is a specialty engineering polymer having various industrial applications. PSU is especially used in waste water treatment membranes due to its good mechanical properties, structural and chemical stability. But it is a hydrophobic material and therefore its surface aim to pollute easily. In order to resolve this problem and extend the properties of membrane, PSU surface is rendered hydrophilic by addition of the sepiolite nanofibers. Sepiolite is one of the natural clays, which is a hydrate magnesium silicate fiber, also one of the well known layered clays of the montmorillonites where has several unique channels and pores within. It has also moisture durability, strength and low price. Sepiolite channels give great capacity of absorption and good surface properties. In this study, nanocomposites of commercial PSU and Sepiolite were prepared by solvent mixing method. Different organic solvents and their mixtures were used. Rheological characteristics of PSU-Sepiolite solvent mixtures were analyzed, the solubility of nanocomposite content in those mixtures were studied.

Keywords: nanocomposite, polysulfone, rheology, sepiolite, solution mixing

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Authors: Ursachi Andrei

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The Smart Grid Simulator is a computer software based on advanced algorithms which has as the main purpose to lower the energy bill in the most optimized price efficient way as possible for private households, companies or energy providers. It combines the energy provided by a number of solar modules and wind turbines with the consumption of one household or a cluster of nearby households and information regarding weather conditions and energy prices in order to predict the amount of energy that can be produced by renewable energy sources and the amount of energy that will be bought from the distributor for the following day. The user of the system will not only be able to minimize his expenditures on energy fractures, but also he will be informed about his hourly consumption, electricity prices fluctuation and money spent for energy bought as well as how much money he saved each day and since he installed the system. The paper outlines the algorithm that supports the Smart Grid Simulator idea and presents preliminary test results that support the discussion and implementation of the system.

Keywords: smart grid, sustainable energy, applied science, renewable energy sources

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Authors: Papali Maqalika

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Lesotho farmers produce significant quantities of Merino wool of a quality competitive on the global market and make a substantial impact on the economy of Lesotho. However, even with the economic contribution, the production and quality information and trends of this fibre has been recognised nor documented. This is a sombre shortcoming as Lesotho wool is unknown on international markets. The situation is worsened by the fact that Lesotho wool is auction together with South African wool, trading and benchmarking Lesotho wool are difficult not to mention attempts to advance its production and quality. Based on the information above, available data on Lesotho wool for 10 years were collected and analysed for trends to used in benchmarking where applicable. The fibre properties analysed include fibre diameter (fineness), vegetable matter and yield, application and price. These were selected because they are fundamental in determining fibre quality and price. Production of wool in Lesotho has increased slightly over the ten years covered by this study. It also became apparent that production and quality trends of Lesotho wool are greatly influenced by the farming practices, breed of sheep and climatic conditions. Greater adoption of the merino sheep breed, sheds/barns and sheep coats are suggested as ways to reduce mortality rate (due to extremely cold temperatures), to reduce the vegetable matter on the fibre thus improving the quality and increase yield per sheep and production as a whole. Some farming practices such as the lack of barns, supplementary feeding and veterinary care present constraints in wool production. The districts in the Highlands region were found to have the highest production of mostly wool, this being ascribed to better pastures, climatic, social and other conditions conducive to wool production. The production of Lesotho wool and its quality can be improved further, possibly because of the interventions the Ministry of Agriculture introduced through the Small Agricultural and Development Project (SADP) and other appropriate initiatives by the National Wool and Mohair Growers Association (NWMGA). The challenge however, remains the lack of direct involvement of the wool growers (farmers) in decisions making and policy development, this potentially influences and may lead to the reluctance to adopt the strategies. In some cases, the wool growers do not receive the benefits associated with the interventions immediately. Based on these discoveries; it is recommended that the relevant educators and researchers in wool and textile science, as well as the local wool farmers in Lesotho, be represented in policy and other decision making forums relating to these interventions. In this way, educational campaigns and training workshops will be demand driven with a better chance of adoption and success. This is because the direct beneficiaries will have been involved at inception and they will have a sense of ownership as well as intent to see them through successfully.

Keywords: lesotho wool, wool quality, wool production, lesotho economy, global market, apparel wool, database, textile science, exports, animal farming practices, intimate apparel, interventions

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Authors: Wee Tong Liaw, Elaine Wong Yee Sing

Abstract:

Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. The rationale for implementing a sustained health promoting workplace and participating in SHA is obvious when company management is convinced that healthier employees, business productivity, and profitability are positively correlated. However, performing research or empirical studies on the impact of a sustained health promoting workplace on stock returns are not likely to yield any interests in the absence of a systematic and independent assessment on the comprehensiveness and sustainability of a health promoting workplace in most developed economies. The principles of diversification and mean-variance efficient portfolio in Modern Portfolio Theory developed by Markowitz (1952) laid the foundation for the works of many financial economists and researchers, and among others, the development of the Capital Asset Pricing Model from the work of Sharpe (1964), Lintner (1965) and Mossin (1966), and the Fama-French Three-Factor Model of Fama and French (1992). This research seeks to support the rationale by studying whether there is a significant relationship or impact of a sustained health promoting workplace on the performance of companies listed on the SGX. The research shall form and test hypotheses pertaining to the impact of a sustained health promoting workplace on company’s performances, including stock returns, of companies that participated in the SHA and companies that did not participate in the SHA. In doing so, the research would be able to determine whether corporate and fund manager should consider the significance of a sustained health promoting workplace as a risk factor to explain the stock returns of companies listed on the SGX. With respect to Singapore’s stock market, this research will test the significance and relevance of a health promoting workplace using the Singapore Health Award as a proxy for non-diversifiable risk factor to explain stock returns. This study will examine the significance of a health promoting workplace on a company’s performance and study its impact on stock price performance and beta and examine if it has higher explanatory power than the traditional single factor asset pricing model CAPM (Capital Asset Pricing Model). To study the significance there are three key questions pertinent to the research study. I) Given a choice, would an investor be better off investing in a listed company with a sustained health promoting workplace i.e. a Singapore Health Award’s recipient? II) The Singapore Health Award has four levels of award starting from Bronze, Silver, Gold to Platinum. Would an investor be indifferent to the level of award when investing in a listed company who is a Singapore Health Award’s recipient? III) Would an asset pricing model combining FAMA-French Three Factor Model and ‘Singapore Health Award’ factor be more accurate than single factor Capital Asset Pricing Model and the Three Factor Model itself?

Keywords: asset pricing model, company's performance, stock prices, sustained health promoting workplace

Procedia PDF Downloads 367

Authors: Mohammed Al-Shalabi, Alaa Obeidat

Abstract:

In any food stores, some items will be expired or destroyed because the demand on these items is infrequent, so we need a system that can help the decision maker to make an offer on such items to improve the demand on the items by putting them with some other frequent item and decrease the price to avoid losses. The system generates hundreds or thousands of patterns (offers) for each low demand item, then it uses the association rules (support, confidence) to find the interesting patterns (the best offer to achieve the lowest losses). In this paper, we propose a data mining method for determining the best offer by merging the data mining techniques with the e-commerce strategy. The task is to build a model to predict the best offer. The goal is to maximize the profits of a store and avoid the loss of products. The idea in this paper is the using of the association rules in marketing with a combination with e-commerce.

Keywords: data mining, association rules, confidence, online stores

Procedia PDF Downloads 409

Authors: Jingwen Shi, Qi Wu

Abstract:

We study the role played interest rate risk in carry trade return in order to understand the forward premium puzzle. In this study, our goal is to investigate to what extent carry trade return is indeed due to compensation for risk taking and, more important, to reveal the nature of these risks. Using option data not only on exchange rates but also on interest rate swaps (swaptions), our first finding is that, besides the consensus currency risks, interest rate risks also contribute a non-negligible portion to the carry trade return. What strikes us is our second finding. We find that large downside risks of future exchange rate movements are, in fact, priced significantly in option market on interest rates. The role played by interest rate risk differs structurally from the currency risk. There is a unique premium associated with interest rate risk, though seemingly small in size, which compensates the tail risks, the left tail to be precise. On the technical front, our study relies on accurately retrieving implied distributions from currency options and interest rate swaptions simultaneously, especially the tail components of the two. For this purpose, our major modeling work is to build a new international asset pricing model where we use an orthogonal setup for pricing kernels and specify non-Gaussian dynamics in order to capture three sets of option skew accurately and consistently across currency options and interest rate swaptions, domestic and foreign, within one model. Our results open a door for studying forward premium anomaly through implied information from interest rate derivative market.

Keywords: carry trade, forward premium anomaly, FX option, interest rate swaption, implied volatility skew, uncovered interest rate parity

Procedia PDF Downloads 443

Authors: Xuan Tran

Abstract:

The purpose of this paper is to present a comprehensive dynamic model for pricing strategies in the hotel competition to find a win-win situation for the competitive set. By utilizing the Cobb-Douglas utility model, the study establishes room rates by analyzing the price elasticity of demand across a competitive set of four hotels, with a focus on occupancy rates. To further enhance the analysis, game theory is applied to identify the best response for each competitive party, which illustrates the optimal pricing strategy for each hotel in the competitive landscape. This approach offers valuable insights into how hotels can strategically adjust their room rates in response to market conditions and competitor actions. The primary contributions of this research include as follows: (1) advantages for both individual hotels and the broader competitive hotel market, (2) benefits for hotel management overseeing multiple brands, and (3) positive impacts on the local community.

Keywords: dynamic model, game theory, best response, Cobb-Douglas

Procedia PDF Downloads 17