Search results for: capital budgeting

Authors: Ishu Surender, M. Amez Khair, Ishan Singh

Abstract:

Urbanization is a multidimensional phenomenon. It is an indication of the long-term process for the shift of economics to industrial from rural. The significance of urbanization in modernization, socio-economic development, and poverty eradication is relevant in modern times. This paper aims to study the urbanization index model in the capital of India, Delhi using aspects such as demographic aspect, infrastructural development aspect, and economic development aspect. The urbanization index of all the nine districts of Delhi will be determined using multiple parameters such as population density and the availability of health and education facilities. The definition of the urban area varies from city to city and requires periodic classification which makes direct comparisons difficult. The urbanization index calculated in this paper can be employed to measure the urbanization of a district and compare the level of urbanization in different districts.

Keywords: multiparameter, population density, multiple regression, normalized urbanization index

Procedia PDF Downloads 95

Authors: Sawsan Eissa, Momen Gharib, Omnia Kabbany

Abstract:

A flushing numerical study has been performed for intended artificial islands on the Persian Gulf coast in Abu Dhabi, UAE. The island masterplan was tested for flushing using the DELFT 3D hydrodynamic model, and it was found that its residence time exceeds the acceptable PIANC flushing Criteria. Therefore, a number of mitigation measures were applied and tested one by one using the flushing model. Namely, changing the location of the entrance opening, dredging, removing part of the mangrove existing in the near vicinity to create a channel, removing the mangrove altogether, using culverts of different numbers and locations, and pumping at selected points. The pumping option gave the best solution, but it was disregarded due to high capital and running costs. Therefore, it opted for a combination of other solutions, including removing mangroves, introducing culverts, and adjusting island boundaries and types of protection.

Keywords: hydrodynamics, flushing, delft 3d, Persian Gulf, artificial islands.

Procedia PDF Downloads 37

Authors: Wilfred Fritz

Abstract:

Grid connected solar PV inverters need to be compliant to standard regulations regarding unwanted harmonic generation. This paper gives an introduction to harmonics, solar PV inverter voltage regulation and balancing through compensation and investigates the behaviour of harmonic generation at different power levels. Practical measurements of harmonics and power levels with a power quality data logger were made, on a test network at a university in Germany. The test setup and test results are discussed. The major finding was that between the morning and afternoon load peak windows when the PV inverters operate under low solar insolation and low power levels, more unwanted harmonics are generated. This has a huge impact on the power quality of the grid as well as capital and maintenance costs. The design of a single-tuned harmonic filter towards harmonic mitigation is presented.

Keywords: harmonics, power quality, pulse width modulation, total harmonic distortion

Procedia PDF Downloads 222

Authors: Mohamad H. Atyeh, Wael Alrashed, Steven Telford

Abstract:

The main objective of this research is to measure if there have been any notable changes in the trading actives of the Kuwait stock Exchange (KSE) after the privatization process that took place on the 25th of April 2016. The data that are used to test if there is any change in the KSE market performance are the daily indices for the period from the 25th of April 2016 till the 24th of October 2016 (after privatization) and a similar six months period before the date of the privatization from the 24th of October 2015 till the 24th of April 2016. In addition, as a control, the study included a period that is a period parallel to the six months period after the privatization. The results indicate that privatization is associated with lower variability for the majority of variables, but that the observed switch in slope direction is not actually a product of privatization, but rather one of serial correlation.

Keywords: privatization, Kuwait stock exchange (KSE), market capitalization (MCAP), capital markets authority (CMA), Boursa Kuwait securities company (BKSC)

Procedia PDF Downloads 284

Authors: Selatnia Khaled Grine Ikram

Abstract:

The city of Biskra, like other Algerian cities, knows of urban traffic congestion. The concentration of investments especially in the secondary and tertiary sectors in the Wilaya has attracted a large rural population. The latter, combined with the high rate of natural growing, favored the imbalance of the spatial frame of wilayal system and consequently the traffic congestion of the primate city (Biskra). This urban disease is explained by a two-tier development. The capital of Wilaya growing faster than its others centers body and takes measurements of proportion to the whole. The consequences can only be negative. The pressure on the roads, the growth of the fleet, overloading of equipment and activities have become the characteristics of the city of Biskra, which can no longer meet the needs of its inhabitants. This research attempts to show the relationship between urban congestion of the primate city and the imbalance of the spatial structure of the micro-regional urban system.

Keywords: traffic congestion, spatial structure, pressure on the roads, equipment and activities

Procedia PDF Downloads 660

Authors: Cedric Herring, Loren Henderson, Hayward Derrick Horton, Melvin Thomas

Abstract:

This paper asks whether business startups benefit from having racially diverse founding ownership teams. Using nationally representative data from the Kauffman Firm Survey, the analysis examines the relationship between the racial diversity of the founding ownership teams of business startups and their net worth, revenue, debt, and profits. The analysis shows that, net of firm characteristics and human capital characteristics, startups with racially diverse founding teams have higher net worth, lower debt, and greater profits than their non-diverse counterparts. The racial diversity of ownership teams is not, however, related to startup firms’ revenues, net of other factors. The implications of these findings are explored.

Keywords: racial diversity, business startups, founding ownership teams, diversity and business performance

Procedia PDF Downloads 358

Authors: Charles Kwaku Oppong

Abstract:

This study examined the effects of the agricultural land grabbed for the Bui Dam project on the livelihoods assets of the affected people and its implication on food production. Both quantitative and qualitative data were collected through the use of focus group discussions, questionnaire administration, interview guide, and observations. It was found that the land grabbing incident in the study communities as a result of the Bui Dam construction has resulted in the improvements in the physical assets of the affected people. The findings also indicated that local food crop production and the quantity of fish catch have dwindled after the land grabs. Contrary to this, the local people’s access to the natural capital, particularly the local land for agricultural activities has been worsened. The study recommends alternative sustainable livelihood for the affected people by the local government.

Keywords: land grabbing, livelihood, asset, food production

Procedia PDF Downloads 148

Authors: Eyob Hundessa Gose

Abstract:

Nowadays, it is obviously known that the construction of different infrastructures is one measurement of the development of a country; infrastructures like buildings, bridges, roads, and railways are among them. In the capital city of Ethiopia, the so-called Addis Ababa, the Light Rail Train (LRT), was built Four years ago to satisfy the demand for transportation among the people in the city. The lane of the Train and vehicle separation Media was built with a curb and rail guard installation system to show the right-of-way and for protection of vehicles entering the Train Lane, but this Rail guard fails easily when impacted by vehicles and found that the impact load response of the Rail guard is weak and the Rail guard cannot withstand impact load. This study investigates the effect of variation of parameters such as vehicle speed and different mass effects and assesses the failure mode FRP and Steel reinforcement bar rail guards of deflection and damage state.

Keywords: impact load, fiber reinforced polymer, rail guard, LS-DYNA

Procedia PDF Downloads 46

Authors: Jarrod Haar, David Brougham, Azka Ghafoor

Abstract:

Māori are the indigenous people of Aotearoa (New Zealand) and have a unique perspective called Te Ao Māori (the Māori worldview) and important cultural values around utu (reciprocation), collectivism, long-term orientation, and whanaungatanga (networking, relationships). The present research conducts two studies to better understand how Māori businesses might have similarities and differences to New Zealand businesses. In study 1, we conducted 50 interviews with 25 Māori business owners and 25 New Zealand (non-Māori) owners. For the indigenous population, we used a kaupapa Māori research approach using Māori protocols. This ensured the research is culturally safe. Interviews were conducted around semi-structured questions tapping into the existing business challenges, the role of innovation, and business values and approaches. Transcripts were analyzed using interpretative phenomenological analytic techniques. We identified several themes shared across all business owners: (1) the critical challenge around staff attraction and retention; (2) cost pressures including inflation; (3) and a focus on human resource (HR) practices to address issues including retention. Amongst the Māori businesses, the analysis also identified (4) a unique cultural approach to business relationships. Specifically, amongst the indigenous businesses we find a strong Te Ao Māori perspective amongst Māori business towards innovation. Analysis within this group only identified, within the following sub-themes: (a) whanaungatanga, around the development of strong relationships as a way to aid recruitment and retention, and business fluctuations; (b) mātauranga (knowledge) whereby Māori businesses seek to access advanced knowledge via universities; (c) taking a long-term orientation to business relationships – including with universities. The findings suggest people practices might be a way that firms address workforce retention issues, and we also acknowledge that Māori businesses might also leverage cultural practices to achieve better gains. Thus, in study 2, we survey 606 New Zealand private sector firms including 85 who self-identify as Māori Firms. We test the benefits of high-performance work-systems (HPWS), which represent bundle of human-resource practices designed to bolster workforce productivity through enhancing knowledge, skills, abilities, and commitment of the workforce. We test these on workforce retention and include Māori firm status and cultural capital (reflecting workforce knowledge around Māori cultural values) as moderators. Overall, we find all firms achieve superior workforce retention when they have high levels of HPWS, but Māori firms with high cultural capital are better able to leverage these HR practices to achieve superior workforce retention. In summary, the present study highlights how indigenous businesses in New Zealand might achieve superior performance by leveraging their unique cultural values. The study provides unique insights into established literatures around retention and HR practices and highlights the lessons around indigenous cultural values that appear to aid businesses.

Keywords: Māori business, cultural values, employee retention, human resource practices

Procedia PDF Downloads 51

Authors: Mohit Tyagi, Pradeep Kumar

Abstract:

The objective of this research work is to identify and analyze the significant corporate social responsibility (CSR) practices with an aim to improve the supply chain performance of automobile industry located at National Capital Region (NCR) of India. To achieve the objective, 6 CSR practices have been considered and analyzed using expert’s preference rating (EPR) approach. The considered CSR practices are namely, Top management and employee awareness about CSR (P₁), Employee involvement in social and environmental problems (P₂), Protection of human rights (P₃), Waste reduction, energy saving and water conservation (P₄), Proper visibility of CSR guidelines (P₅) and Broad perception towards CSR initiatives (P₆). The outcomes of this research may help mangers in decision making processes and framing polices for SCP implementation under CSR context.

Keywords: supply chain performance, corporate social responsibility, CSR practices, expert’s preference rating approach

Procedia PDF Downloads 318

Authors: A. M. Andriano, M. Lombardi, A. Lopolito, M. Prosperi, A. Stasi, E. Iannuzzi

Abstract:

In according to the scientific debate on the definition of Social Innovation (SI), the present paper identifies SI as new ideas (products, services, and models) that simultaneously meet social needs and create new social relationships or collaborations. This concept offers important tools to unravel the difficult condition for the agricultural sector in marginalized areas, characterized by the abandonment of activities, low level of farmer education, and low generational renewal, hampering new territorial strategies addressed at and integrated and sustainable development. Models of SI in agriculture, starting from bottom up approach or from the community, are considered to represent the driving force of an ecological and digital revolution. A system based on SI may be able to grasp and satisfy individual and social needs and to promote new forms of entrepreneurship. In this context, Vazapp ('Go Hoeing') is an emerging SI model in southern Italy that promotes solutions for satisfying needs of farmers and facilitates their relationships (creation of network). The Vazapp’s initiative, considered in this study, is the Contadinners ('Farmer’s dinners'), a dinner held at farmer’s house where stakeholders living in the surrounding area know each other and are able to build a network for possible future professional collaborations. The aim of the paper is to identify the evolution of farmers’ relationships, both quantitatively and qualitatively, because of the Contadinner’s initiative organized by Vazapp. To this end, the study adopts the Social Network Analysis (SNA) methodology by using UCINET (Version 6.667) software to analyze the relational structure. Data collection was realized through a questionnaire distributed to 387 participants in the twenty 'Contadinners', held from February 2016 to June 2018. The response rate to the survey was about 50% of farmers. The elaboration data was focused on different aspects, such as: a) the measurement of relational reciprocity among the farmers using the symmetrize method of answers; b) the measurement of the answer reliability using the dichotomize method; c) the description of evolution of social capital using the cohesion method; d) the clustering of the Contadinners' participants in followers and not-followers of Vazapp to evaluate its impact on the local social capital. The results concern the effectiveness of this initiative in generating trustworthy relationships within the rural area of southern Italy, typically affected by individualism and mistrust. The number of relationships represents the quantitative indicator to define the dimension of the network development; while the typologies of relationships (from simple friendship to formal collaborations, for branding new cooperation initiatives) represents the qualitative indicator that offers a diversified perspective of the network impact. From the analysis carried out, Vazapp’s initiative represents surely a virtuous SI model to catalyze the relationships within the rural areas and to develop entrepreneurship based on the real needs of the community.

Keywords:

Procedia PDF Downloads 97

Authors: Alexis D'Agostino, Amanda Pomeroy

Abstract:

Background: Resource availability is essential to effective implementation of national nutrition policies. To this end, the SPRING Project has collected and analyzed budget data from government ministries in Uganda, international donors, and other nutrition implementers to provide data for the first time on what funding is actually allocated to implement nutrition activities named in the national nutrition plan. Methodology: USAID’s SPRING Project used the Uganda Nutrition Action Plan (UNAP) as the starting point for budget analysis. Thorough desk reviews of public budgets from government, donors, and NGOs were mapped to activities named in the UNAP and validated by key informants (KIs) across the stakeholder groups. By relying on nationally-recognized and locally-created documents, SPRING provided a familiar basis for discussions to increase credibility and local ownership of findings. Among other things, the KIs validated the amount, source, and type (specific or sensitive) of funding. When only high-level budget data were available, KIs provided rough estimates of the percentage of allocations that were actually nutrition-relevant, allowing creation of confidence intervals around some funding estimates. Results: After validating data and narrowing in on estimates of funding to nutrition-relevant programming, researchers applied a formula to estimate overall nutrition allocations. In line with guidance by the SUN Movement and its three-step process, nutrition-specific funding was counted at 100% of its allocation amount, while nutrition sensitive funding was counted at 25%. The vast majority of nutrition funding in Uganda is off-budget, with over 90 percent of all nutrition funding is provided outside of the government system. Overall allocations are split nearly evenly between nutrition-specific and –sensitive activities. In FY 2013/14, the two-year study’s baseline year, on- and off-budget funding for nutrition was estimated to be around 60 million USD. While the 60 million USD allocations compare favorably to the 66 million USD estimate of the cost of the UNAP, not all activities are sufficiently funded. Those activities with a focus on behavior change were the most underfunded. In addition, accompanying qualitative research suggested that donor funding for nutrition activities may shift government funding into other areas of work, making it difficult to estimate the sustainability of current nutrition investments.Conclusions: Beyond providing figures, these estimates can be used together with the qualitative results of the study to explain how and why these amounts were allocated for particular activities and not others, examine the negotiation process that occurred, and suggest options for improving the flow of finances to UNAP activities for the remainder of the policy tenure. By the end of the PBN study, several years of nutrition budget estimates will be available to compare changes in funding over time. Halfway through SPRING’s work, there is evidence that country stakeholders have begun to feel ownership over the ultimate findings and some ministries are requesting increased technical assistance in nutrition budgeting. Ultimately, these data can be used within organization to advocate for more and improved nutrition funding and to improve targeting of nutrition allocations.

Keywords: budget, nutrition, financing, scale-up

Procedia PDF Downloads 423

Authors: Bahram Soltani, Louai Ghazieh

Abstract:

Following the high profile financial scandals of 2007-2008, corporate management has been faced with strong pressures resulting from more regulatory requirements, as well as the increasing expectations of various groups of stakeholders. The responsibility acquired a big importance in front of this financial crisis. This responsibility requires more transparency and communication, inside the company with the collaborators and outside of the company with the society, while companies try to improve the degree of control and to authorize managers to realize the objectives of the company. The objective of this paper is to present the concept of the responsibility generally and the various types of manager’s responsibility in private individual within the company, as well as the explanatory theories of this responsibility through the various perspectives such as: economic, political, social and behavioral. This study should have academic and practical contributions particularly for regulators seeking to improve the companies’ practices and organizational functioning within capital market economy.

Keywords: manager, accountability, corporate performance, financial crisis, behavior

Procedia PDF Downloads 378

Authors: Tiantian Ma

Abstract:

The district of Doumen, Zhuhai has a sophisticated seabass value chain. However, unlike typical Global Value Chain (GVC) industries, the seabass value chain in Doumen is highly domestic both in terms of production and consumption. Still, since the highly-industrialized and capital-intensive industry involves many off-farm segments in both upstream and downstream, this paper will be utilizing the method of value chain analysis. To be specific, the paper will concentrate on two research goals: 1) the value chain mapping of the seabass industry, such as identifying actors in the hatchery, fish feed, fishponds, processing, logistics, and distribution, 2) the SWOT analysis of the seabass industry in Doumen, including incompetence of the waste disposal, the strategy of marketing, and the supportive role of the government, etc. In general, the seabass industry in Doumen is a sophisticated but not yet comprehensive value chain. It has achieved a lot in industrializing aqua-food products and fostering development, but there are still improvements that could be carried out, such as upholding environmental sustainability and promoting the brand better.

Keywords: agricultural value chain, fish farming, regional development, SWOT analysis, value chain mapping

Procedia PDF Downloads 140

Authors: Ibrahim Alshunaibir

Abstract:

Infection with Helicobacter pylori is common worldwide but few studies focus on the prevalence and spread of the infection in Saudi Arabia. This study was undertaken to observe the epidemiology of Helicobacter pylori infection in patients suffering from gastrointestinal sign and symptoms in one of the largest hospitals in the capital of Saudi Arabia, Riyadh. Methods: Enzyme-linked immunosorbent assay (ELISA) was undertaken for this study with nearly 6000 samples collected and examined for patients suffering from (dyspeptic) symptoms ranging in their age from 5 to 75 years. Results: The prevalence of helicobacter infection was 67% increasing with age. Female shows higher percentage of H. pylori infection than male. Conclusions: The percentage rate was higher in female than male. This study shows a high percentage of helicobacter infection in Saudi Arabia.

Keywords: Helicobacter pylori, percentage, dyspeptic, Saudi Arabia

Procedia PDF Downloads 341

Authors: Anupreet B. Dugal, Suruchi Mittar

Abstract:

The research prospect explores fashion as a tool to effectively emancipate the Sikh identity. The study presents information on how fashion has played a critical and visible role in reflecting and helping to construct identities based on religiosity. It discusses the Sikh identity, its’ origin; its continuity and the contemporary ambivalence. Fashion has mostly, if not always been used as a means of establishing identity. This research creates a gateway to discuss the impact that fashion can have on the existing socio-cultural and religious models. The study focuses on the Sikhs, a small community of India with regard to their visual appearance. The research will be based on the case study of 1469, a store infusing Sikhism as a style quotient. Subsequently, in the research framework, a sample study would be conducted with Sikh youth (18-25 years old) hailing from New Delhi, the capital city of India. 1469 formulates a striking case study for examining the relationship between fashion and religious and personal identity.

Keywords: fashion, identity, sikh identity, textiles

Procedia PDF Downloads 460

Authors: Dian Andari

Abstract:

In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

Procedia PDF Downloads 310

Authors: Safiye Ates Burc

Abstract:

This proposal is based on the story of Kurdish tribal conflict and peace in Mardin (Turkey). In the stories that will be detailed with in-depth interviews with the parties to the conflict (family elders, mediators and other tribal lords); It will be examined how rumor has an effect on establishing conflict and peace and whether it shakes the trust between the parties. In fact, this research is still at an ongoing stage. In this paper, the effect of emotions on conflict and reconciliation, which is the main subject of this ongoing study, will be conveyed in line with the data obtained from the preliminary research. In-depth interviews are conducted in the research in which the ethnography method is used. As an early result, it can be said that in organizations such as the Kurdish tribes, where local loyalties and traditions are very strong, the rumor has the potential to shake the trust between the parties and thus can become the excuse for conflict. Because rumors damage the prestige of tribes, that’s, it’s social capital.

Keywords: rumor, trust, Kurdish tribes, local peacemaking, conflict

Procedia PDF Downloads 137

Authors: Michiko Miyamoto

Abstract:

This paper empirically investigates whether information technology (IT) strategies, business strategies, and divisions are aligned to meet overall business goals for Korean Small and medium-sized enterprises (SMEs), based on structure based Strategic Alignment Model, and make comparison with those of Japanese SMEs. Using 2,869 valid responses of Korean Human Capital Corporate Panel survey, a result of this study suggests that Korean human resources (HR) departments have a major influence over IT strategy, which is the same as Japanese SMEs, even though their management styles are quite different. As for IT strategy, it is not related to other departments at all for Korean SMEs. The Korean management seems to possess a great power over each division, such as Sales/Service, Research and Development/Technical Experts, HR, and Production.

Keywords: IT-business alignment, structured based strategic alignment model, structural equation model, human resources department

Procedia PDF Downloads 255

Authors: Ahmet Diken, Tahsin Karabulut

Abstract:

The factor which developing countries are in need is capital. Such countries make an effort to increase their income in order to meet their expenses for employment, infrastructure, superstructure investments, education, health and defense. The sole income of the countries is taxes collected from businesses. The businesses should drive profit and return in order to be able to toll. In a world where competition exists, different strategies may be followed by business in developing countries and they must specify their target markets. İn order to minimize cost and maximize profit, SMEs have to concentrate on target markets and select cost oriented strategy. In this study, a theoretical model is suggested that SME firms have to act as cluster between each other, and also must be optimal provider for large scale firms. SMEs’ policy must be supported by public. This relationship can benefit large scale firms to have brand over the world, and this organization increases value added for developing countries.

Keywords: competitiveness, countries, SMEs developing, sustainability

Procedia PDF Downloads 300

Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

Abstract:

We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

Procedia PDF Downloads 150

Authors: Yang Liu

Abstract:

The work team has been being adopted by the CCP for special missions in a limited time. Since the 18th National Congress of CCP, the unprecedented practice of the work team has had impacts beyond the original goal of poverty alleviation, their functions in village governance have still not been well studied. As the state agents that come from the outside of the village community, this article argues that the work team is a group that represents the coexistence of political, economic, and cultural capital, which contributes to effectively empower the state, and the village cadres and the peasants. For the state, more accurate bottom-up information could be collected by the work team, and policies could be made scientifically and implemented without distortion. For the village cadres, they can learn leadership skills and share more resources owned or mobilized by the work team. For the peasants, they have more access to participate the public affairs of their village and express their claims. The multiple empowerments have greatly improved the relationship among the state, the peasants, and the village cadres since a series of reforms from 1980s to 2000s that alienated the relationship among them.

Keywords: state, village cadre, empowerment, work team, peasants

Procedia PDF Downloads 98

Authors: Iris Vural Gursel, Andrea Ramirez

Abstract:

Effective utilization of lignin is an important mean for developing economically profitable biorefineries. Current literature suggests that large amounts of lignin will become available in second generation biorefineries. New conversion technologies will, therefore, be needed to carry lignin transformation well beyond combustion to produce energy, but towards high-value products such as chemicals and transportation fuels. In recent years, significant progress on catalysis has been made to improve transformation of lignin, and new catalytic processes are emerging. In this work, a techno-economic assessment of two of these novel conversion routes and comparison with more established lignin pyrolysis route were made. The aim is to provide insights into the potential performance and potential hotspots in order to guide the experimental research and ease the commercialization by early identifying cost drivers, strengths, and challenges. The lignin conversion routes selected for detailed assessment were: (non-catalytic) lignin pyrolysis as the benchmark, direct hydrodeoxygenation (HDO) of lignin and hydrothermal lignin depolymerisation. Products generated were mixed oxygenated aromatic monomers (MOAMON), light organics, heavy organics, and char. For the technical assessment, a basis design followed by process modelling in Aspen was done using experimental yields. A design capacity of 200 kt/year lignin feed was chosen that is equivalent to a 1 Mt/y scale lignocellulosic biorefinery. The downstream equipment was modelled to achieve the separation of the product streams defined. For determining external utility requirement, heat integration was considered and when possible gasses were combusted to cover heating demand. The models made were used in generating necessary data on material and energy flows. Next, an economic assessment was carried out by estimating operating and capital costs. Return on investment (ROI) and payback period (PBP) were used as indicators. The results of the process modelling indicate that series of separation steps are required. The downstream processing was found especially demanding in the hydrothermal upgrading process due to the presence of significant amount of unconverted lignin (34%) and water. Also, external utility requirements were found to be high. Due to the complex separations, hydrothermal upgrading process showed the highest capital cost (50 M€ more than benchmark). Whereas operating costs were found the highest for the direct HDO process (20 M€/year more than benchmark) due to the use of hydrogen. Because of high yields to valuable heavy organics (32%) and MOAMON (24%), direct HDO process showed the highest ROI (12%) and the shortest PBP (5 years). This process is found feasible with a positive net present value. However, it is very sensitive to the prices used in the calculation. The assessments at this stage are associated with large uncertainties. Nevertheless, they are useful for comparing alternatives and identifying whether a certain process should be given further consideration. Among the three processes investigated here, the direct HDO process was seen to be the most promising.

Keywords: biorefinery, economic assessment, lignin conversion, process design

Procedia PDF Downloads 249

Authors: Wen Chiat Lee, K. Kuperan Viswanathan

Abstract:

Illegal, Unreported and unregulated (IUU) fishing brings great losses to the economies of the fishing nations. Understanding the reasons contributing to IUU fishing is crucial in reducing it. Economic, institutional and social factors are key drivers of IIU fishing. The economic factor is the main contributor to IUU fishing. The two possible ways to curb the IUU fishing is highlighted. One way is to reduce the revenue from IUU fishing and another way is to increase the cost of IUU fishing. There are three costs of IUU fishing that can be increased namely the operating, capital and risk costs. Approaches for reducing the economic rent or profit from IUU fishing are developed and directions for reducing IUU fishing are also suggested. Improved registration of fishing vessels, preventing entry of illegal fish products and most importantly, developing co-management of fisheries are the ways forward for reducing IUU fishing. All governments in ASEAN must work in tandem with the stakeholders involved such as fishers, fishermen agencies or associations to exchange information for reducing the transaction cost of IUU fishing.

Keywords: Illegal, unreported and unregulated (IUU) fishing, co-management, fisheries management, economic rent framework

Procedia PDF Downloads 218

Authors: Baobao Li

Abstract:

Operational risk covers all operations of commercial banks and has a close relationship with the bank’s internal control. But in the commercial banks' management practice, internal control is always separated from the operational risk measurement. With the increasing of operational risk events in recent years, operational risk is paid more and more attention by regulators and banks’ managements. The paper first discussed the relationship between internal control and operational risk management and used CVaR-POT model to measure operational risk, and then put forward a modified measurement method (to use operational risk assessment results to modify the measurement results of the CVaR-POT model). The paper also analyzed the necessity and rationality of this method. The method takes into consideration the influence of internal control, improves the accuracy and effectiveness of operational risk measurement and save the economic capital for commercial banks, avoiding the drawbacks of using some mainstream models one-sidedly.

Keywords: commercial banks, internal control, operational risk, risk measurement

Procedia PDF Downloads 380

Authors: Amir Taghizadeh Vahed, Adithya Thaduri

Abstract:

Shovels are the main components in the mining transportation system. The productivity of the mines depends on the availability of shovels due to its high capital and operating costs. The unplanned failure/shutdowns of a shovel results in higher repair costs, increase in downtime, as well as increasing indirect cost (i.e. loss of production and company’s reputation). In order to mitigate these failures, predictive maintenance can be useful approach using failure prediction. The modern mining machinery or shovels collect huge datasets automatically; it consists of reliability and maintenance data. However, the gathered datasets are useless until the information and knowledge of data are extracted. Machine learning as well as data mining, which has a major role in recent studies, has been used for the knowledge discovery process. In this study, data mining and machine learning approaches are implemented to detect not only anomalies but also patterns from a dataset and further detection of failures.

Keywords: maintenance, machine learning, shovel, conditional based monitoring

Procedia PDF Downloads 192

Authors: Lisa Listiana

Abstract:

ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

Procedia PDF Downloads 425

Authors: Fernando Vega, Esmeralda Portillo, Sara Camino, Benito Navarrete, Elena Montavez

Abstract:

The European Union aims at strongly reducing their CO₂ emissions from energy and industrial sector by 2030. The energy sector contributes with more than two-thirds of the CO₂ emission share derived from anthropogenic activities. Although efforts are mainly focused on the use of renewables by energy production sector, carbon capture and storage (CCS) remains as a frontline option to reduce CO₂ emissions from industrial process, particularly from fossil-fuel power plants and cement production. Among the most feasible and near-to-market CCS technologies, namely post-combustion and oxy-combustion, partial oxy-combustion is a novel concept that can potentially reduce the overall energy requirements of the CO₂ capture process. This technology consists in the use of higher oxygen content in the oxidizer that should increase the CO₂ concentration of the flue gas once the fuel is burnt. The CO₂ is then separated from the flue gas downstream by means of a conventional CO₂ chemical absorption process. The production of a higher CO₂ concentrated flue gas should enhance the CO₂ absorption into the solvent, leading to further reductions of the CO₂ separation performance in terms of solvent flow-rate, equipment size, and energy penalty related to the solvent regeneration. This work evaluates a portfolio of CCS technologies applied to fossil-fuel power plants. For this purpose, an economic evaluation methodology was developed in detail to determine the main economical parameters for CO₂ emission removal such as the levelized cost of electricity (LCOE) and the CO₂ captured and avoided costs. ASPEN Plus™ software was used to simulate the main units of power plant and solve the energy and mass balance. Capital and investment costs were determined from the purchased cost of equipment, also engineering costs and project and process contingencies. The annual capital cost and operating and maintenance costs were later obtained. A complete energy balance was performed to determine the net power produced in each case. The baseline case consists of a supercritical 500 MWe coal-fired power plant using anthracite as a fuel without any CO₂ capture system. Four cases were proposed: conventional post-combustion capture, oxy-combustion and partial oxy-combustion using two levels of oxygen-enriched air (40%v/v and 75%v/v). CO₂ chemical absorption process using monoethanolamine (MEA) was used as a CO₂ separation process whereas the O₂ requirement was achieved using a conventional air separation unit (ASU) based on Linde's cryogenic process. Results showed a reduction of 15% of the total investment cost of the CO₂ separation process when partial oxy-combustion was used. Oxygen-enriched air production also reduced almost half the investment costs required for ASU in comparison with oxy-combustion cases. Partial oxy-combustion has a significant impact on the performance of both CO₂ separation and O₂ production technologies, and it can lead to further energy reductions using new developments on both CO₂ and O₂ separation processes.

Keywords: carbon capture, cost methodology, economic evaluation, partial oxy-combustion

Procedia PDF Downloads 131

Authors: Natalie Malone

Abstract:

This study explores the role of a public library in the creation of social spaces for vulnerable populations. The data stems from a longitudinal ethnographic study of the Anderson Library community, which included field notes, artifacts, and interview data. Thematic analysis revealed multiple meanings and thematic relationships within and among the data sources -interviews, field notes, and artifacts. Initial analysis suggests the Anderson Library serves as a space for vulnerable populations, with the sub-themes of fostering interpersonal communication to create a social space for children and fostering interpersonal communication to create a social space for parents and adults. These findings are important as they illustrate the potential of public libraries to serve as community empowering institutions.

Keywords: capital, immigrant families, public libraries, space, vulnerable

Procedia PDF Downloads 134

Authors: Ichiro Takahashi

Abstract:

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

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

Procedia PDF Downloads 151