Search results for: alternative finance

Authors: R. Boulmane, C. Alleno, D. Marzin

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Trace minerals play an essential role in vital processes and are essential to many biological and physiological functions of the animal. They are usually incorporated in the form of inorganic salts such as sulfates and oxides. Most of these inorganic salts are excreted undigested by the animal causing economic losses as well as environmental pollution. In this context, the use of alternative organic trace minerals with higher bioavailability is emerging. This study was set up to evaluate the effect of using an algae-zinc complex in replacement of zinc sulfate in the feed, on growth performance of broiler chickens. One-thousand-two-hundred 1-day-old chicks were randomly distributed to 30 pens, allocated to 1 of 3 groups receiving different diets: the standard diet containing 35ppm of inorganic zinc sulfate (C+), a test diet containing 35ppm of algae-based zinc (T+), and a test diet containing half dose (16ppm) of algae-based zinc (T-). Three different feeds were distributed from D0-D11, D11-D21 and D21-D35. Individual weighing of the animals (D21 and D35), feed consumption (D11, D21 and D35) and pododermatitis occurrence (D35) were monitored. Data were submitted to analysis of variance. Results show that in finishing period the ADWG of the T+ and T- groups are significantly higher than the control C+ (+6%, P = 0.03). On the other hand, the FCR for the total period is lower for both the T+ and T- groups than the control C+ (-1.2%, P = 0.04). Pododermatitis scoring also shows less lesions for the test groups with algae-based zinc compared to the control group receiving inorganic one. In the end, this study shows a positive effect of the algae zinc-complex on growth performance of broilers compared to inorganic zinc, both when using full dose (35 ppm) or half dose (16 ppm). The use of algae-zinc complex in the premix shows to be a good alternative to reduce zinc excretion while maintaining performance.

Keywords: algae-zinc complex, broiler performance, organic trace minerals, zinc sulfate

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Authors: Kay Fielden, Eelin Tan, Lan Nguyen

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In this research project, data was gathered at a Covid 19 Conference held in June 2021 from industry leaders who discussed the impact of the global pandemic on the status of the New Zealand hospitality industry. Panel discussions on financials, human resources, health and safety, and recovery were conducted. The themes explored for the finance panel were customer demographics, hospitality sectors, financial practices, government impact, and cost of compliance. The aim was to see how the hospitality industry has responded to the global pandemic and the steps that have been taken for the industry to recover or sustain their business. The main research question for this qualitative study is: What are the factors that have impacted on finance for the hospitality industry in New Zealand due to Covid 19? For financials, literature has been gathered to study global effects, and this is being compared with the data gathered from the discussion panel through the lens of resilience theory. Resilience theory applied to the hospitality industry suggests that the challenges imposed by Covid 19 have been the catalyst for government initiatives, technical innovation, engaging local communities, and boosting confidence. Transformation arising from these ground shifts have been a move towards sustainability, wellbeing, more awareness of climate change, and community engagement. Initial findings suggest that there has been a shift in customer base that has prompted regional accommodation providers to realign offers and to become more flexible to attract and maintain this realigned customer base. Dynamic pricing structures have been required to meet changing customer demographics. Flexible staffing arrangements include sharing staff between different accommodation providers, owners with multiple properties adopting different staffing arrangements, maintaining a good working relationship with the bank, and conserving cash. Uncertain times necessitate changing revenue strategies to cope with external factors. Financial support offered by the government has cushioned the financial downturn for many in the hospitality industry, and managed isolation and quarantine (MIQ) arrangements have offered immediate financial relief for those hotels involved. However, there is concern over the long-term effects. Compliance with mandated health and safety requirements has meant that the hospitality industry has streamlined its approach to meeting those requirements and has invested in customer relations to keep paying customers informed of the health measures in place. Initial findings from this study lie within the resilience theory framework and are consistent with findings from the literature.

Keywords: global pandemic, hospitality industry, new Zealand, resilience

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Authors: Simran Gill, Samuel Bartels

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Turfgrass is an important component of urban and rural lawns and landscapes. However, broadleaf weeds such as dandelions (Taraxacum officinale) and white clovers (Trifolium repens) pose major challenges to the health and aesthetics of turfgrass fields. Chemical weed control methods, such as 2,4-D weedicides, have been widely deployed; however, their safety and environmental impacts are often debated. Alternative, environmentally friendly control methods have been considered, but experimental tests for their effectiveness have been limited. This study investigates the use and effectiveness of nitrogen and iron compounds as nutrient management methods of weed control. In a two-phase experiment, the first conducted on a blend of cool season turfgrasses in plastic containers, the blend included Perennial ryegrass (Lolium perenne), Kentucky bluegrass (Poa pratensis) and Creeping red fescue (Festuca rubra) grown under controlled conditions in the greenhouse, involved the application of different combinations of nitrogen (urea and ammonium sulphate) and iron (chelated iron and iron sulphate) compounds and their combinations (urea × chelated iron, urea × iron sulphate, ammonium sulphate × chelated iron, ammonium sulphate × iron sulphate) contrasted with chemical 2, 4-D weedicide and a control (no application) treatment. There were three replicates of each of the treatments, resulting in a total of 30 treatment combinations. The parameters assessed during weekly data collection included a visual quality rating of weeds (nominal scale of 0-9), number of leaves, longest leaf span, number of weeds, chlorophyll fluorescence of grass, the visual quality rating of grass (0-9), and the weight of dried grass clippings. The results drawn from the experiment conducted over the period of 12 weeks, with three applications each at an interval of every 4 weeks, stated that the combination of ammonium sulphate and iron sulphate appeared to be most effective in halting the growth and establishment of dandelions and clovers while it also improved turf health. The second phase of the experiment, which involved the ammonium sulphate × iron sulphate, weedicide, and control treatments, was conducted outdoors on already established perennial turf with weeds under natural field conditions. After 12 weeks of observation, the results were comparable among the treatments in terms of weed control, but the ammonium sulphate × iron sulphate treatment fared much better in terms of the improved visual quality of the turf and other quality ratings. Preliminary results from these experiments thus suggest that nutrient management based on nitrogen and iron compounds could be a useful environmentally friendly alternative for controlling broadleaf weeds and improving the health and quality of turfgrass.

Keywords: broadleaf weeds, nitrogen, iron, turfgrass

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Authors: Inka Maria Vilhelmiina Hiltunen

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The crisis of liberal democracy has been recognized from many sites of political literature; scholars of Marxist critical political economy and deliberative democracy, as well as critics of neoliberalism, have become concerned about how either the rise of populism and authoritarianism, institutional decline or the overarching economic rationality erode political democratic citizenship in favor of economic technocracy or conservative protectionism. However, even if these bodies of literature recognize the generalized crisis that haunts Western democracies, dialogue between them has been very limited. That said, drawing from contemporary Marxist perspectives, this article aims at bridging the gap between the criticism of neoliberalism and theories of deliberative democracy. The first section starts by outlining what is meant by neoliberalism, liberal democracy, and the crisis of liberal democracy. The next section explores how contemporary capitalism acts upon society and transforms it. It introduces Jurgen Habermas’ thesis of the ‘colonization of the lifeworld’, Wendy Brown’s analysis of neoliberal rationality and Étienne Balibar’s concepts of ‘absolute capitalism’ and ‘total subsumption,’ that the essay aims at connecting in the last section. The third section is concerned with the deliberative democratic theory and practice. The section highlights the qualitative socio-political impacts of deliberation, as predicted by theorists and shown by empirical studies. The last section draws from contemporary Marxist perspectives to examine the question if deliberative democratic theories and practices can resolve the crisis of liberal democracy in the current financially driven era of neoliberal capitalism. By asking this question, the essay aims to consider what is required to reverse the current global trend of rising inequality. If liberal democracy has declined towards commodified and reactionary forms of politics and if ‘market rationality’ has shaped social agency to the extent that politicians and the public struggle to imagine ‘any alternatives’, the most urgent political task is to bring to life a new political imagination based on democratic ideals of equality, inclusivity, reciprocity, and solidarity, that thereby enables the revision of the transnational institutional design. This part focuses on the hegemonic role of finance and money. The essay concludes by stating that the implementation of substantive global democracy must start from the dissolution of the hegemony of finance, centered on U.S., and from the remaking of the conditions of socioeconomic reproduction world-wide. However, given the still present overarching neoliberal status quo, the essay is skeptical of the ideological feasibility of this remaking.

Keywords: deliberative democracy, criticism of neoliberalism, marxist political economy, crisis of liberal democracy

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Authors: A. V. Varfolomeeva, N. S. Tkachenko, A. G. Tishchenko

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The problem of violation of internal validity in studies of psychological structures is considered. The role of epistemological attitudes of researchers in the planning of research within the methodology of the system-evolutionary approach is assessed. Alternative programs of psychological research involving representatives of different biological species are presented. On the example of the results of two research series the variants of solving the problem are discussed.

Keywords: epistemological attitudes, experimental design, validity, psychological structure, learning

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Authors: Saylav Ejder Bora, Arife Erdogan, Mumin Alper Erdogan, Oytun Erbas, Ismet Parlak

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Objective: The aim of this study was to evaluate histological, electrical and biochemical effects of metoprolol, lipid emulsion and magnesium sulphate as an alternative method to be used in preventing long QT emergence, that is among the lethal consequences of amitryptiline toxicity. Methods: Thirty Sprague- Dawley male rats were included. Rats were randomly separated into 5 groups. First group was administered saline only while the rest had received amitryptiline 100 mg/kg + saline, 5 mg/kg metoprolol, 20 ml/kg lipid emulsion and 75 mg/kg magnesium sulphate (MgSO4) intraperitoneally. ECG at DI lead, biochemical tests following euthanasia were performed in all groups after 1 hour of administration. Cardiac tissues were removed, sections were prepared and examined. Results: QTc values were significantly shorter in the rest when compared to amitryptiline+ saline group. While lipid emulsion did not affect proBNP and troponin values biochemically as compared to that of the control group, histologically, it was with reduced caspase 3 expression. Though statistically insignificant in the context of biochemical changes, pro-BNP and urea levels were lower in the metoprolol group when compared to controls. Similarly, metoprolol had no statistically significant effect on histological caspase 3 expression in the group that was treated with amitryptiline+metoprolol. On the other hand, there was a statistically significant decrease in Troponin, pro-BNP and urea levels as well as significant decline in histological caspase 3 expression within the MgSO4 group when compared to controls. Conclusion: As still a frequent cause of mortality in emergency units, administration of MgSO4, lipid emulsion and metoprolol might be beneficial in alternative treatment of cardiovascular toxicity caused by tricyclic antidepressant overdose, whether intake would be intentional or accidental.

Keywords: amitryptiline, cardiovascular toxicity, long QT, Rat Model

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Authors: O. Alelweet, S. Pavia

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In order to face current compelling environmental problems affecting the planet, the construction industry needs to adapt. It is widely acknowledged that there is a need for durable, high-performance, low-greenhouse gas emission binders that can be used as an alternative to Portland cement (PC) to lower the environmental impact of construction. Alkali activated materials (AAMs) are considered a more sustainable alternative to PC materials. The binders of AAMs result from the reaction of an alkali metal source and a silicate powder or precursor which can be a calcium silicate or an aluminosilicate-rich material. This paper evaluates the particle size, specific surface area, chemical and mineral composition and amorphousness of silicate materials (most industrial waste locally produced in Ireland and Saudi Arabia) to develop alkali-activated binders that can replace PC resources in specific applications. These include recycled ceramic brick, bauxite, illitic clay, fly ash and metallurgical slag. According to the results, the wastes are reactive and comply with building standards requirements. The study also evidenced that the reactivity of the Saudi bauxite (with significant kaolinite) can be enhanced on thermal activation; and high calcium in the slag will promote reaction; which should be possible with low alkalinity activators. The wastes evidenced variable water demands that will be taken into account for mixing with the activators. Finally, further research is proposed to further determine the reactive fraction of the clay-based precursors.

Keywords: alkali activated materials, alkali-activated binders, sustainable building materials, recycled ceramic brick, bauxite, red mud, clay, fly ash, metallurgical slags, particle size, chemical and mineral composition and amorphousness, water demand, particle density

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Authors: T. Poyai, P. Painmanakul, N. Chawaloesphonsiya, P. Dhanasin, C. Getwech, P. Wattana

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Drilling is a key activity in oil and gas exploration and production. Drilling always requires the use of drilling mud for lubricating the drill bit and controlling the subsurface pressure. As drilling proceeds, a considerable amount of cuttings or rock fragments is generated. In general, water or Water Based Mud (WBM) serves as drilling fluid for the top hole section. The cuttings generated from this section is non-hazardous and normally applied as fill materials. On the other hand, drilling the bottom hole to reservoir section uses Synthetic Based Mud (SBM) of which synthetic oils are composed. The bottom-hole cuttings, SBM cuttings, is regarded as a hazardous waste, in accordance with the government regulations, due to the presence of hydrocarbons. Currently, the SBM cuttings are disposed of as an alternative fuel and raw material in cement kiln. Instead of burning, this work aims to propose an alternative for drill cuttings management under two ultimate goals: (1) reduction of hazardous waste volume; and (2) making use of the cleaned cuttings. Soil washing was selected as the major treatment process. The physiochemical properties of drill cuttings were analyzed, such as size fraction, pH, moisture content, and hydrocarbons. The particle size of cuttings was analyzed via light scattering method. Oil present in cuttings was quantified in terms of total petroleum hydrocarbon (TPH) through gas chromatography equipped with flame ionization detector (GC-FID). Other components were measured by the standard methods for soil analysis. Effects of different washing agents, liquid-to-solid (L/S) ratio, washing time, mixing speed, rinse-to-solid (R/S) ratio, and rinsing time were also evaluated. It was found that drill cuttings held the electrical conductivity of 3.84 dS/m, pH of 9.1, and moisture content of 7.5%. The TPH in cuttings existed in the diesel range with the concentration ranging from 20,000 to 30,000 mg/kg dry cuttings. A majority of cuttings particles held a mean diameter of 50 µm, which represented silt fraction. The results also suggested that a green solvent was considered most promising for cuttings treatment regarding occupational health, safety, and environmental benefits. The optimal washing conditions were obtained at L/S of 5, washing time of 15 min, mixing speed of 60 rpm, R/S of 10, and rinsing time of 1 min. After washing process, three fractions including clean cuttings, spent solvent, and wastewater were considered and provided with recommendations. The residual TPH less than 5,000 mg/kg was detected in clean cuttings. The treated cuttings can be then used for various purposes. The spent solvent held the calorific value of higher than 3,000 cal/g, which can be used as an alternative fuel. Otherwise, the recovery of the used solvent can be conducted using distillation or chromatography techniques. Finally, the generated wastewater can be combined with the produced water and simultaneously managed by re-injection into the reservoir.

Keywords: drill cuttings, green solvent, soil washing, total petroleum hydrocarbon (TPH)

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Authors: Anima Ashraf

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Over the past few decades biodiversity has become the issue of global concern for its rapid reduction worldwide. Bangladesh is no exception. The country is exceptionally endowed with a vast variety of flora and fauna, but due to tremendous population pressure, rural poverty and unemployment it has been decreased alarmingly. Since, both biodiversity and sustainable development are the part of human life in modern era and both work together to make our life safer and comfortable therefore balance should be kept in development and biodiversity conservation and priority should be given to alternative and sustainable development paths. This paper is based on study of two projects undertaken by Arannayk Foundation jointly with its local NGO partners. The aim was to understand previous, current and future scenarios for the hilly biodiversity of Khagrachari in the Chittagong Hill Tracts (CHT) of Bangladesh. It is also observed how alternative income generating activities (AIGA) improve livelihood of the tribal inhabitants of the area, decrease their dependency on forest resources and also aid conservation activities. Intensive field visits were made and interviews were conducted with key informants to see the progress and achievements of local NGOs working with the tribal community for the past seven years to restore the denuded hills of Khagrachari. The paper also covers the impacts and interventions of the projects and the methods used to aid conservation activities. Raising awareness among the villagers has reduced extraction of forests resources by 47% and granting funds and access to microcredit to adopt AIGAs have increased their average annual income by 25%. Finally, the paper concludes that effective community-based conservation practices are fundamental to ensure biodiversity conservation in the Chittagong Hill Tracts. In order to conserve biodiversity and restore the forests of CHT, livelihood development of the villagers has to be considered as the main component of the projects undertaken by all NGOs and the Government.

Keywords: biodiversity, conservation, forests, livelihood

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Authors: Saranya Ganapathy, Megha N. Parajulee, Michael San Francisco, Hong Zhang

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Insect pests are a serious threat to agricultural productivity. Use of chemical pesticides, the predominant control method thus far, has resulted in environmental damage, pest resurgence, and negative effects on non-target species. Genetically modified (GM) crops offer a promising alternative, and Bacillus thuringiensis endotoxin genes have played a major role in this respect. However, to overcome insect tolerance issues and to broaden the target range, it is critical to identify alternative-insecticidal toxins working through novel mechanisms. Our research group has identified a kinase from Chilo iridescent virus (CIV; Family Iridoviridae) that has insecticidal activity and designated it as ISTK (Iridovirus Serine/Threonine Kinase). A 35 kDa truncated form of ISTK, designated iridoptin, was obtained during expression and purification of ISTK in the yeast system. This yeast-expressed CIV toxin induced 50% mortality in cotton aphids and 100% mortality in green peach aphids (GPA). Optimized viral genes (o-ISTK and o-IRI) were stably transformed into the model plant, Arabidopsis. PCR analysis of genomic DNA confirmed the presence of the gene insert (oISTK/oIRI) in selected transgenic lines. The further screening was performed to identify the PCR positive lines that showed expression of respective toxins at the polypeptide level using Western blot analysis. The stable lines expressing either of these two toxins induced moderate to very high mortality in GPAs and significantly affected GPA development and fecundity. The aphicidal potential of these transgenic Arabidopsis lines will be presented.

Keywords: Chilo iridescent virus, insecticidal toxin, iridoviruses, plant-incorporated protectants, serine/threonine kinase

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Authors: E. Bartkiene, V. Krungleviciute, J. Kucinskiene, R. Antanaitis, A. Kucinskas

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In calves less than 10-day-old, infection commonly cause severe diarrhoea and high mortality. To prevention of calves diseases a common practice is to treat calves with prophylactic antibiotics, in this case the use of lactic acid bacteria (LAB) is promising. Often LAB strains are incubated in comercial de Man-Rogosa-Sharpe (MRS) medium, the culture are centrifuged, the cells are washing with sterile water, and this suspension is used as a starter culture for animal health care. Juice of potatoe tubers is industrial wastes, wich may constitute a source of digestible nutrients for microorganisms. In our study the ability of LAB to utilize potatoe tubers juice in cell synthesis without external nutrient supplement was investigated, and the influence of multiplied LAB on calves blood parameters was evaluated. Calves were selected based on the analogy principle (treatment group (n=6), control group (n=8)). For the treatment group 14 days was given a 50 ml of fermented potatoe tubers juice containing 9.6 log10 cfu/ml of LAB. Blood parameters (gas and biochemical) were assessed by use of an auto-analyzers (Hitachi 705 and EPOC). Before the experiment, blood pH of treatment group calves was 7.33, control – 7.36, whereas, after 14 days, 7.28 and 7.36, respectively. Calves blood pH in the treatment group remained stable over the all experiment period. Concentration of PCO2 in control calves group blood increased from 63.95 to 70.93, whereas, in the treatment group decreased from 63.08 to 60.71. Concentration of lactate in the treatment group decreased from 3.20 mmol/l to 2.64 mmol/l, whereas, in control - increased from 3.95 mmol/l to 4.29 mmol/l. Concentration of AST in the control calves group increased from 50.18 IU/L to 58.9 IU/L, whereas, in treatment group decreased from 49.82 IU/L to 33.1 IU/L. We conclude that the 50 ml of fermented potatoe tubers juice containing 9.6 log10 cfu/ml of LAB per day, by using 14 days, reduced risk of developing acidosis (stabilizes blood pH (p < 0.05)), reduces lactates and PCO2 concentration (p < 0.05) and risk of liver lesions (reduces AST concentration (p < 0.005)) in blood of calves.

Keywords: alternative substrate, blood parameters, calves, lactic acid bacteria

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Authors: B. F. Nteumagne, E. Pindza, E. Mare

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We apply Lie symmetries analysis to price and hedge options in the fractional Brownian framework. The reputation of Lie groups is well spread in the area of Mathematical sciences and lately, in Finance. In the presence of transactions costs and under fractional Brownian motions, analytical solutions become difficult to obtain. Lie symmetries analysis allows us to simplify the problem and obtain new analytical solution. In this paper, we investigate the use of symmetries to reduce the partial differential equation obtained and obtain the analytical solution. We then proposed a hedging procedure and calibration technique for these types of options, and test the model on real market data. We show the robustness of our methodology by its application to the pricing of digital options.

Keywords: fractional brownian model, symmetry, transaction cost, option pricing

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Authors: Jonni Guiller Madeira, Angel Sanchez Delgado, Ronney Mancebo Boloy

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The use bioenergy, in recent years, has become a good alternative to reduce the emission of polluting gases. Several Brazilian and foreign companies are doing studies related to waste management as an essential tool in the search for energy efficiency, taking into consideration, also, the ecological aspect. Brazil is one of the largest cassava producers in the world; the cassava sub-products are the food base of millions of Brazilians. The repertoire of results about the ecological impact of the production, by steam reforming, of biohydrogen from cassava wastewater biogas is very limited because, in general, this commodity is more common in underdeveloped countries. This hydrogen, produced from cassava wastewater, appears as an alternative fuel to fossil fuels since this is a low-cost carbon source. This paper evaluates the environmental impact of biohydrogen production, by steam reforming, from cassava wastewater biogas. The ecological efficiency methodology developed by Cardu and Baica was used as a benchmark in this study. The methodology mainly assesses the emissions of equivalent carbon dioxide (CO₂, SOₓ, CH₄ and particulate matter). As a result, some environmental parameters, such as equivalent carbon dioxide emissions, pollutant indicator, and ecological efficiency are evaluated due to the fact that they are important to energy production. The average values of the environmental parameters among different biogas compositions (different concentrations of methane) were calculated, the average pollution indicator was 10.11 kgCO₂e/kgH₂ with an average ecological efficiency of 93.37%. As a conclusion, bioenergy production using biohydrogen from cassava wastewater treatment plant is a good option from the environmental feasibility point of view. This fact can be justified by the determination of environmental parameters and comparison of the environmental parameters of hydrogen production via steam reforming from different types of fuels.

Keywords: biohydrogen, ecological efficiency, cassava, pollution indicator

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Authors: M. Qamarul Islam, Ergun Dogan, Mehmet Yazici

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There is a growing body of evidence that non-normal data is more prevalent in nature than the normal one. Examples can be quoted from, but not restricted to, the areas of Economics, Finance and Actuarial Science. The non-normality considered here is expressed in terms of fat-tailedness and asymmetry of the relevant distribution. In this study a skew t distribution that can be used to model a data that exhibit inherent non-normal behavior is considered. This distribution has tails fatter than a normal distribution and it also exhibits skewness. Although maximum likelihood estimates can be obtained by solving iteratively the likelihood equations that are non-linear in form, this can be problematic in terms of convergence and in many other respects as well. Therefore, it is preferred to use the method of modified maximum likelihood in which the likelihood estimates are derived by expressing the intractable non-linear likelihood equations in terms of standardized ordered variates and replacing the intractable terms by their linear approximations obtained from the first two terms of a Taylor series expansion about the quantiles of the distribution. These estimates, called modified maximum likelihood estimates, are obtained in closed form. Hence, they are easy to compute and to manipulate analytically. In fact the modified maximum likelihood estimates are equivalent to maximum likelihood estimates, asymptotically. Even in small samples the modified maximum likelihood estimates are found to be approximately the same as maximum likelihood estimates that are obtained iteratively. It is shown in this study that the modified maximum likelihood estimates are not only unbiased but substantially more efficient than the commonly used moment estimates or the least square estimates that are known to be biased and inefficient in such cases. Furthermore, in conventional regression analysis, it is assumed that the error terms are distributed normally and, hence, the well-known least square method is considered to be a suitable and preferred method for making the relevant statistical inferences. However, a number of empirical researches have shown that non-normal errors are more prevalent. Even transforming and/or filtering techniques may not produce normally distributed residuals. Here, a study is done for multiple linear regression models with random error having non-normal pattern. Through an extensive simulation it is shown that the modified maximum likelihood estimates of regression parameters are plausibly robust to the distributional assumptions and to various data anomalies as compared to the widely used least square estimates. Relevant tests of hypothesis are developed and are explored for desirable properties in terms of their size and power. The tests based upon modified maximum likelihood estimates are found to be substantially more powerful than the tests based upon least square estimates. Several examples are provided from the areas of Economics and Finance where such distributions are interpretable in terms of efficient market hypothesis with respect to asset pricing, portfolio selection, risk measurement and capital allocation, etc.

Keywords: least square estimates, linear regression, maximum likelihood estimates, modified maximum likelihood method, non-normality, robustness

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Authors: Ludmilla Wikkeling-Scott, Amira Karim

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Background: In a rapidly developing environment, concerns for pollution and depletion of natural resources are challenges facing global communities. A major source of waste on university campuses is the use of plastic bottles, while cost of production and processing is high. Consumer demand stimulates popularity of plastic bottle production, but researchers agree this is not a sustainable solution. This pilot study assesses plastic water bottle used and attitude towards alternatives among Emirati college students. Methods: This study was conducted in December 2016, using an anonymous self-administered survey of 17 questions. The survey included personal characteristics, plastic water bottle used, attitude towards alternative replacement and sustainability. For statistical analysis, STATA 14C was used to determine significance of association. Results: A total of 500 Emirati students (94.6% female) completed the survey. Of the students, 82.6% preferred bottled water over tap water, and 44.6% reported disposable bottled water use in their household, 42.6% purchased disposable bottled water more than twice a week, and 44.2% purchased bottled water at least once, while on campus. Students were willing to consider switching to alternative water bottle use if it was more convenient (22.54%), cost less (55.13%) or improved the taste (22.54%), while only 7.85% students would not consider any alternatives. There was a significant difference in attitude towards alternatives to water bottle use by area of study (p < 0.005). Conclusion: The UAE strives to be at the forefront of sustainable development and protecting biodiversity. However, a major challenge is the increasing amount of waste, exacerbated by the increasing consumer demand for convenience as seen in this billion-dollar industry. Plastic bottles, for all purposes, pose a serious threat to the environment and sustainable campus initiatives can help reduce the ecological footprint, improve awareness of safe alternatives and benefits to the environment.

Keywords: ecological foot print, emirati students, plastic bottle consumption, sustainable campus

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Authors: Talal Asif, Maya Kosinska, Lucas Georger, Krish Sardesai, Muhammad Shah Miran

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This article presents a case review and literature review focused on the challenges of managing subaortic membranes (SAM) in young adult patients with mild aortic regurgitation (AR) or aortic stenosis (AS). The study aims to discuss the diagnosis of SAM, imaging studies used for assessment, management strategies in young patients, the risk of valvular damage, and the controversy surrounding prophylactic resection in mild AR. The management of SAM in adults poses challenges due to limited treatment options and potential complications, necessitating further investigation into the progression of AS and AR in asymptomatic SAM patients. The case presentation describes a 40-year-old male with muscular dystrophy who presented with symptoms and was diagnosed with SAM. Various imaging techniques, including CT chest, transthoracic echocardiogram (TTE), and transesophageal echocardiogram (TEE), were used to confirm the presence and severity of SAM. Based on the patient's clinical profile and the absence of surgical indications, medical therapy was initiated, and regular outpatient follow-up was recommended to monitor disease progression. The discussion highlights the challenges in diagnosing SAM, the importance of imaging studies, and the potential complications associated with SAM in young patients. The article also explores the management options for SAM, emphasizing surgical resection as the definitive treatment while acknowledging the limited success rates of alternative approaches. Close monitoring and prompt intervention for complications are crucial in the management of SAM. The concluding statement emphasizes the need for further research to explore alternative treatments for SAM in young patients.

Keywords: subaortic membrane, management, case report, literature review, aortic regurgitation, aortic stenosis, left ventricular outflow obstruction, guidelines, heart failure

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Authors: Nithi Sermsiriviboon, Somchai Supattarakul

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Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

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Authors: Jelena Kovačević Vorgučin, Sibila Petenji Arbutina

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The postmodern age brings a rapid development of technology which inevitably leads to man's need to adapt to modern lifestyle. On the one hand, technological achievements have made human life easier, but there are numerous risks involved. Moreover, man's awareness and perception is changing and adapting unconsciously to the world we live in, while communication in the 21st century is predominantly based on the consumption of images. This paper presents sociological aspects of a community which is confined due to turbulent political-economic circumstances and its impact on the development of media literacy in Serbia. Previous researches led to the conclusion that the media culture is on an extremely low level, and that it can have a strong influence on the general development of the society, starting from the youngest segment of the population. Our aim is to use the conceptual authorial photographs inspired by the obtained research results to emphasize the importance that the impact of visual art has in delivering the message, its role in education and in raising awareness of universal social problems. The paper presents a number of stages involved in the conceptual project which is designed to last over a longer period of time in order to facilitate dissemination of information. First, a survey was carried out in several preschool institutions. This resulted in obtaining the necessary information on the habitual use of the medium of television in children and their carers-parents. The second stage focused on the relationship between the parent and the child in TV consumption. Further, an overview of the visual part of the project was made, which consisted of photographs in various dimensions, ranging from miniature to large dimensions, and following various exhibition principles in both gallery and alternative spaces. This stage of the project placed particular emphasis on the non-standard exhibiting formats and alternative exhibition principles which are increasingly present in all kinds of visual art aimed at achieving a higher level of information noticing and memorizing. The motif on the authorial photographs is children's portraits taken while they are watching different television contents, with emphasis on their emotional response. The importance of the medium of TV is particularly emphasized due to the fact that its consumption is the highest, even though there are newer and more advanced information-technological achievements. The already realized part of the project was used for an analysis of the results in the last stage of the project, which led to the conclusion that the response to the entire visual expression campaign was extremely positive, and action as such very useful indeed. The results obtained speak in favour of widening and continuation of the project, both on a greater number of sites locally as well as in other communities in Serbia with the aim of guiding people towards meaningful consumption of the television medium.

Keywords: alternative space exhibiting, children and TV, conceptual portrait photography, media literacy

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Authors: Zane Turner, Kevin Labille, Susan Gauch

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Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We present a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

Keywords: computational finance, sentiment analysis, sentiment lexicon, stock movement prediction

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Authors: Zane Turner, Kevin Labille, Susan Gauch

Abstract:

Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We introduce a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

Keywords: computational finance, sentiment analysis, sentiment lexicon, stock movement prediction

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Authors: Olubisi Friday Oluduro

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The Paris Agreement 2015, the result of negotiations under the United Nations Framework Convention on Climate Change (UNFCCC), after Kyoto Protocol expiration, sets a long-term goal of limiting the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels, and of pursuing efforts to limiting this temperature increase to 1.5 degrees Celsius. An advancement on the erstwhile Kyoto Protocol which sets commitments to only a limited number of Parties to reduce their greenhouse gas (GHGs) emissions, it includes the goal to increase the ability to adapt to the adverse impacts of climate change and to make finance flows consistent with a pathway towards low GHGs emissions. For it achieve these goals, the Agreement requires all Parties to undertake efforts towards reaching global peaking of GHG emissions as soon as possible and towards achieving a balance between anthropogenic emissions by sources and removals by sinks in the second half of the twenty-first century. In addition to climate change mitigation, the Agreement aims at enhancing adaptive capacity, strengthening resilience and reducing the vulnerability to climate change in different parts of the world. It acknowledges the importance of addressing loss and damage associated with the adverse of climate change. The Agreement also contains comprehensive provisions on support to be provided to developing countries, which includes finance, technology transfer and capacity building. To ensure that such supports and actions are transparent, the Agreement contains a number reporting provisions, requiring parties to choose the efforts and measures that mostly suit them (Nationally Determined Contributions), providing for a mechanism of assessing progress and increasing global ambition over time by a regular global stocktake. Despite the somewhat global look of the Agreement, it has been fraught with manifold limitations threatening its very existential capability to produce any meaningful result. Considering these obvious limitations some of which were the very cause of the failure of its predecessor—the Kyoto Protocol—such as the non-participation of the United States, non-payment of funds into the various coffers for appropriate strategic purposes, among others. These have left the developing countries largely threatened eve the more, being more vulnerable than the developed countries, which are really responsible for the climate change scourge. The paper seeks to examine the mitigation and adaptation measures under the Paris Agreement 2015, appraise the present situation since the Agreement was concluded and ascertain whether the developing countries have been better or worse off since the Agreement was concluded, and examine why and how, while projecting a way forward in the present circumstance. It would conclude with recommendations towards ameliorating the situation.

Keywords: mitigation, adaptation, climate change, Paris agreement 2015, framework

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Authors: Shihab Ibrahim

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Geopolymer binders as an alternative binder system to ordinary Portland cement are the focus of the past 2 decades of researches. In order to eliminate CO2 emission by cement manufacturing and utilizing construction waste as a source material, clean waste clay bricks which are the waste from Levent Brick factory was activated with a mixture of sodium hydroxide and sodium silicate solution. 12 molarity of sodium hydroxide solution was used and the ratio of sodium silicate to sodium hydroxide was 2.5. Alkaline solution to clay brick powder ratio of 0.35, 0.4, 0.45, and 0.5 was studied. Alkaline solution to powder ratio of 0.4 was found to be optimum ratio to have the same workability as ordinary Portland cement paste. Compressive strength of the clay brick based geopolymer paste samples was evaluated under different curing temperatures and curing durations. One day compressive strength of 57.3 MPa after curing at 85C for 24 hours was obtained which was higher than 7 days compressive strength of ordinary Portland cement paste. The highest compressive strength 71.4 MPa was achieved at seventh day age for the geopolymer paste samples cured at 85C for 24 hours. It was found that 8 hour curing at elevated temperature 85C, is sufficient to get 96% of total strength. 37.4 MPa strength at seventh day of clay brick based geopolymer sample cured at room temperature was achieved. Water absorption around 10% was found for clay brick based geopolymer samples cured at different temperatures with compare to 9.14% water absorption of ordinary Portland cement paste. The clay brick based geopolymer binder can have the potentiality to be used as an alternative binder to Portland cement in a case that the heat treatment provided. Further studies are needed in order to produce the binder in a way that can harden and gain strength without any elevated curing.

Keywords: construction and demolition waste, geopolymer, clay brick, compressive strength.

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Authors: Ikenna Stephen Ezennia, Sebnem Onal Hoscara

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Successive governments in Nigeria are faced with the pressing problem of how to house an ever-expanding urban population, usually low-income earners. The question of housing and affordability presents a complex challenge for these governments, as the commodification of housing links it inextricably to markets and capital flows. Therefore, placing it as at the center of the government’s agenda. However, the provision of decent and affordable housing for average Nigerians has remained an illusion, despite copious schemes, policies and programs initiated and carried out by various successive governments. Similarly, this phenomenon has also been observed in many countries of Africa, which is largely a result of economic unpredictability, lack of housing finance and insecurity, among other factors peculiar to a struggling economy. This study reviews recent dynamics and factors challenging the provision and development of affordable housing for the low income urban populace of Nigeria. Thus, the aim of the study is to present a comprehensive approach for understanding recent trends in the provision of affordable housing for Nigerians. The approach is based on a new paradigm of research: transdisciplinarity; a form of inquiry that crosses the boundaries of different disciplines. Therefore, the review takes a retrospective gaze at the various housing development programs/schemes/policies taken by successive governments of Nigeria within the last few decades and exams recent efforts geared towards eradicating the problems of housing delivery. Sources of data included relevant English language articles and the results of literature search of Elsevier Science Direct, ISI Web of Knowledge, Pro Quest Central, Scopus, and Google Scholar. The findings reveal that factors such as; rapid urbanization, inadequate planning and land use control, lack of adequate and favorable finance, high prices of land, high prices of building material, youth/touts harassment of developers, poor urban infrastructure, multiple taxation, and risk share are the major factors posing as a hindrance to adequate housing delivery. The results show that the majority of Nigeria’s affordable housing schemes, programs and policies are in most cases poorly implemented and abandoned without proper coordination. Consequently, the study concludes that the affordable housing delivery strategies in Nigeria are an epitome of lip service politics by successive governments; and the current trend of leaving housing provision to the vagaries of market forces cannot be expected to support affordable housing especially for the low income urban populace.

Keywords: affordable housing, housing delivery, national housing policy, urban poor

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Authors: Murat Demir Aydin, Elanur Celebi

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Adhesively bonded joints are used as an alternative to traditional joining methods due to the important advantages they provide. The most important consideration in the use of adhesively bonded joints is that these joints have appropriate requirements for their use in terms of safety. In order to ensure control of this condition, damage analysis of the adhesively bonded joints should be performed by determining the mechanical properties of the adhesives. When the literature is investigated; it is generally seen that the mechanical properties of adhesives are determined by traditional measurement methods. In this study, to determine the mechanical properties of adhesives, the Digital Image Correlation (DIC) method, which can be an alternative to traditional measurement methods, has been used. The DIC method is a new optical measurement method which is used to determine the parameters of displacement and strain in an appropriate and correct way. In this study, tensile tests of Thick Adherent Shear Test (TAST) samples formed using DP410 liquid structural adhesive and steel materials and bulk tensile specimens formed using and DP410 liquid structural adhesive was performed. The displacement and strain values of the samples were determined by DIC method and the shear stress-strain curves of the adhesive for TAST specimens and the tensile strain curves of the bulk adhesive specimens were obtained. Various methods such as numerical methods are required as conventional measurement methods (strain gauge, mechanic extensometer, etc.) are not sufficient in determining the strain and displacement values of the very thin adhesive layer such as TAST samples. As a result, the DIC method removes these requirements and easily achieves displacement measurements with sufficient accuracy.

Keywords: structural adhesive, adhesively bonded joints, digital image correlation, thick adhered shear test (TAST)

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Authors: Adriana Duarte, Sandra Sampaio, Catia Ferreira, Jaime I. N. R. Gomes

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With the fashion of faded worn garments the textile industry has moved from indigo and pigments to dyes that are fixed by cationization, with products that can be toxic, and that can show this effect after washing down the dye with friction and/or treating with enzymes in a subsequent operation. Increasingly they are treated with bleaches, such as hypochlorite and permanganate, both toxic substances. An alternative process is presented in this work for both garment and jet dyeing processes, without the use of pre-cationization and the alternative use of “particle-dyes”. These are hybrid products, made up by an inorganic particle and an organic dye. With standard soluble dyes, it is not possible to avoid diffusion into the inside of the fiber unless using previous cationization. Only in this way can diffusion be avoided keeping the centre of the fibres undyed so as to produce the faded effect by removing the surface dye and showing the white fiber beneath. With “particle-dyes”, previous cationization is avoided. By applying low temperatures, the dye does not diffuse completely into the inside of the fiber, since it is a particle and not a soluble dye, being then able to give the faded effect. Even though bleaching can be used it can also be avoided, by the use of friction and enzymes they can be used just as for other dyes. This fashion brought about new ways of applying reactive dyes by the use of previous cationization of cotton, lowering the salt, and temperatures that reactive dyes usually need for reacting and as a side effect the application of a more environmental process. However, cationization is a process that can be problematic in applying it outside garment dyeing, such as jet dyeing, being difficult to obtain level dyeings. It also should be applied by a pad-fix or Pad-batch process due to the low affinity of the pre-cationization products making it a more expensive process, and the risk of unlevelness in processes such as jet dyeing. Wit particle-dyes, since no pre-cationizartion is necessary, they can be applied in jet dyeing. The excess dye is fixed by a fixing agent, fixing the insoluble dye onto the surface of the fibers. By applying the fixing agent only one to 1-3 rinses in water at room temperature are necessary, saving water and improving the washfastness.

Keywords: denim, garment dyeing, worn look, eco-fashion

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Authors: Mohammad Hosein Panahi, Naser Yazdani

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we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

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Authors: Manish Khanra, Shashank Prabhu

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The decarbonization of hard-to-abate sectors is currently high on the agenda in the EU and its member states, as these sectors have substantial shares in overall GHG emissions while it is facing serious challenges to decarbonize. In particular, the aviation sector accounts for 2.8% of global anthropogenic CO₂ emissions. These emissions are anticipated to grow dramatically unless immediate mitigating efforts are implemented. Hydrogen and its derivatives based on renewable electricity can have a key role in the transition towards CO₂-neutral flights. The substantial shares of energy carriers in the form of drop-in fuel, direct combustion and Hydrogen-to-Electric are promising in most scenarios towards 2050. For creating appropriate policies to ramp up the production and utilisation of hydrogen commodities in the German aviation sector, a detailed analysis of the spatial distribution of supply-demand sites is essential. The objective of this research work is to assess the demand for hydrogen-based alternative fuels in the German aviation sector to achieve the perceived goal of the ‘Net Zero’ scenario by 2050. Here, the analysis of the technological pathways for the production and utilisation of these fuels in various aircraft options is conducted for reaching mitigation targets. Our method is based on data-driven bottom-up assessment, considering production and demand sites and their spatial distribution. The resulting energy demand and its spatial distribution with consideration of technology diffusion lead to a possible transition pathway of the aviation sector to meet short-term and long-term mitigation targets. Additionally, to achieve mitigation targets in this sector, costs and policy aspects are discussed, which would support decision-makers from airline industries, policymakers and the producers of energy commodities.

Keywords: the aviation sector, hard-to-abate sectors, hydrogen demand, alternative fuels, technological pathways, data-driven approach

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Authors: F. S. Al-Anzi, M. Sarfraz, A. Elmi, A. R. Khan

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Researchers are responding to the environmental challenges of Kuwait in localized, innovative, effective and economic ways. One of the vital and significant examples of the natural challenges is lack or water and desertification. In this research, the project team focuses on redesigning a prototype, using Value Engineering Methodology, which would provide similar functionalities to the well-known technology of Waterboxx kits while reducing the capital and operational costs and simplifying the process of manufacturing and usability by regular farmers. The design employs used tires and recycled plastic sheets as raw materials. Hence, this approach is going to help not just fighting desertification but also helping in getting rid of ever growing huge tire dumpsters in Kuwait, as well as helping in avoiding hazards of tire fires yielding in a safer and friendlier environment. Several alternatives for implementing the prototype have been considered. The best alternative in terms of value has been selected after thorough Function Analysis System Technique (FAST) exercise has been developed. A prototype has been fabricated and tested in a controlled simulated lab environment that is being followed by real environment field testing. Water and soil analysis conducted on the site of the experiment to cross compare between the composition of the soil before and after the experiment to insure that the prototype being tested is actually going to be environment safe. Experimentation shows that the design was equally as effective as, and may exceed, the original design with significant savings in cost. An estimated total cost reduction using the VE approach of 43.84% over the original design. This cost reduction does not consider the intangible costs of environmental issue of waste recycling which many further intensify the total savings of using the alternative VE design. This case study shows that Value Engineering Methodology can be an important tool in innovating new designs for reducing costs.

Keywords: desertification, functional analysis, scrap tires, value engineering, waste recycling, water irrigation rationing

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Authors: Vahid Ramezankhani, Keith J. Stevenson, Stanislav. S. Fedotov

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Lithium-ion batteries (LIBs) play a pivotal role in achieving the key objective “zero-carbon emission” as countries agreed to reach a 1.5ᵒC global warming target according to the Paris agreement. Nowadays, due to the tremendous mobile and stationary consumption of small/large-format LIBs, the demand and consequently the price for such energy storage devices have been raised. The aforementioned challenges originate from the shrinkage of the major applied critical materials in these batteries, such as cobalt (Co), nickel (Ni), Lithium (Li), graphite (G), and manganese (Mn). Therefore, it is imperative to consider alternative elements to address issues corresponding to the limitation of resources around the globe. Potassium (K) is considered an effective alternative to Li since K is a more abundant element, has a higher operating potential, a faster diffusion rate, and the lowest stokes radius in comparison to the closest neighbors in the periodic table (Li and Na). Among all reported materials for metal-ion batteries, some of them possess the general formula AMXO4L [A = Li, Na, K; M = Fe, Ti, V; X = P, S, Si; L= O, F, OH] is of potential to be applied both as anode and cathode and enable researchers to investigate them in the full symmetric battery format. KTiPO4F (KTP structural material) has been previously reported by our group as a promising cathode with decent electronic properties. Herein, we report a synthesis, crystal structure characterization, morphology, as well as K-ion storage properties of KTiPO4F. Our investigation reveals that KTiPO4F delivers discharge capacity > 150 mAh/g at 26.6 mA/g (C/5 current rate) in the potential window of 0.001-3 V. Surprisingly, the cycling performance of C-KTiPO4F//K cell is stable for 1000 cycles at 130 mA/g (C current rate), presenting capacity > 130 mAh/g. More interestingly, we achieved to assemble full symmetric batteries where carbon-coated KTiPO4F serves as both negative and positive electrodes, delivering >70 mAh/g in the potential range of 0.001-4.2V.

Keywords: anode material, potassium battery, chemical characterization, electrochemical properties

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Authors: Mahsa Shafaei Bajestani, Mahmoud Yazdani, Aliakbar Golshani

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Artificial lightweight aggregates have a wide range of applications in industry and engineering. Nowadays, the usage of this material in geotechnical activities, especially as backfill in retaining walls has been growing due to the specific characteristics which make it a competent alternative to the conventional geotechnical materials. In practice, a material with lower weight but higher shear strength parameters would be ideal as backfill behind retaining walls because of the important roles that these parameters play in decreasing the overall active lateral earth pressure. In this study, two types of Light Expanded Clay Aggregates (LECA) produced in the Leca factory are investigated. LECA is made in a rotary kiln by heating natural clay at different temperatures up to 1200 °C making quasi-spherical aggregates with different sizes ranged from 0 to 25 mm. The loose bulk density of these aggregates is between 300 and 700 kN/m³. The purpose of this research is to determine the stress-strain behavior, shear strength parameters, and the energy absorption of LECA materials. Direct shear tests were conducted at five normal stresses of 25, 50, 75, 100, and 200 kPa. In addition, conventional triaxial compression tests were operated at confining pressures of 50, 100, and 200 kPa to examine stress-strain behavior. The experimental results show a high internal angle of friction and even a considerable amount of nominal cohesion despite the granular structure of LECA. These desirable properties along with the intrinsic low density of these aggregates make LECA as a very proper material in geotechnical applications. Furthermore, the results demonstrate that lightweight aggregates may have high energy absorption that is excellent alternative material in seismic isolations.

Keywords: expanded clay, direct shear test, triaxial test, shear properties, energy absorption

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