Search results for: corrosion-fatigue crack growth rate

Authors: Pınar Aydın, Şule Turhan

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Today, with the change of people's consumption habits, the importance of frozen fruit and vegetable sector has been increased. In Turkey, sector is based on export. It is growing very fast and external demand is constantly increasing. About 80% of frozen fruits and vegetables produced in Turkey are being exported. More than 90% of the exports go to European Union countries. About 49% of frozen fruits and vegetables in Turkey is being exported to Germany, England and France. In the sector which the abroad demand is continuously increasing, although it has been estimated that around 25% of the average annual growth rate, the domestic consumption is very low. Although the frozen food consumption per person in Turkey is about %2 of United States, the growing rate of the sector is higher than the United States and Europe. This situation reflects that it is such a sector that has a growing demand in both domestic and foreign markets.

Keywords: frozen food, fruit and vegetable sector, exports, Turkey

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Authors: Jihad S. Daba, J. P. Dubois, Yvette Antar

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With the exponential growth of cellular users, a new generation of cellular networks is needed to enhance the required peak data rates. The co-channel interference between neighboring base stations inhibits peak data rate increase. To overcome this interference, multi-cell cooperation known as coordinated multipoint transmission is proposed. Such a solution makes use of multiple-input-multiple-output (MIMO) systems under two different structures: Micro- and macro-diversity. In this paper, we study the capacity and bit error rate in cellular networks using MIMO technology. We analyse both micro- and macro-diversity schemes and develop a hybrid model that switches between macro- and micro-diversity in the case of hard handoff based on a cut-off range of signal-to-noise ratio values. We conclude that our hybrid switched micro-macro MIMO system outperforms classical MIMO systems at the cost of increased hardware and software complexity.

Keywords: cooperative multipoint transmission, ergodic capacity, hard handoff, macro-diversity, micro-diversity, multiple-input-multiple output systems, orthogonal frequency division multiplexing

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Authors: V. Nikkhah Rashidabad, M. Manteghian, M. Masoumi, S. Mousavian

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In this research, the changes in bubbles diameter and number that may occur due to the change in heat flux of pure water during pool boiling process. For this purpose, test equipment was designed and developed to collect test data. The bubbles were graded using Caliper Screen software. To calculate the growth and nucleation rates of bubbles under different fluxes, population balance model was employed. The results show that the increase in heat flux from q=20 kw/m2 to q=102 kw/m2 raised the growth and nucleation rates of bubbles.

Keywords: heat flux, bubble growth, bubble nucleation, population balance model

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Authors: V. Jamuna, A. K. Chakravarty, C. S. Patil, Vijay Kumar, M. A. Mir, Rakesh Kumar

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Intense selection of buffaloes for milk production at organized herds of the country without giving due attention to fertility traits viz. pregnancy rate has lead to deterioration in their performances. Aim of study is to develop an optimum model for predicting pregnancy rate and to assess the level of pregnancy rate with respect to milk production Murrah buffaloes. Data pertaining to 1224 lactation records of Murrah buffaloes spread over a period 21 years were analyzed and it was observed that pregnancy rate depicted negative phenotypic association with lactation milk yield (-0.08 ± 0.04). For developing optimum model for pregnancy rate in Murrah buffaloes seven simple and multiple regression models were developed. Among the seven models, model II having only Service period as an independent reproduction variable, was found to be the best prediction model, based on the four statistical criterions (high coefficient of determination (R 2), low mean sum of squares due to error (MSSe), conceptual predictive (CP) value, and Bayesian information criterion (BIC). For standardizing the level of fertility with milk production, pregnancy rate was classified into seven classes with the increment of 10% in all parities, life time and their corresponding average pregnancy rate in relation to the average lactation milk yield (MY).It was observed that to achieve around 2000 kg MY which can be considered optimum for Indian Murrah buffaloes, level of pregnancy rate should be in between 30-50%.

Keywords: life time, pregnancy rate, production, service period, standardization

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Authors: Jyoti Jha, Asim Tewari, Sushil Mishra

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The alpha-beta Titanium alloy (Ti-6Al-4V) is the most common alloy in the aerospace industry. The hot workability of Ti–6Al–4V has been investigated by means of hot compression tests carried out in the 750–950 °C temperature range and 0.001–10s-1 strain rate range. Stress-strain plot obtained from the Gleeble 3800 test results show the dynamic recrystallization at temperature 950 °C. The effect of microstructural characteristics of the deformed specimens have been studied and correlated with the test temperature, total strain and strain rate. Finite element analysis in DEFORM 2D has been carried out to see the effect of flow stress parameters in different zones of deformed sample. Dynamic recrystallization simulation based on Cellular automata has been done in DEFORM 2D to simulate the effect of hardening and recovery during DRX. Simulated results well predict the grain growth and DRX in the deformed sample.

Keywords: compression test, Cellular automata, DEFORM , DRX

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Authors: Farshad Amini, Kejun Wen

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The formation of reflective cracking of pavement overlays has confronted highway engineers for many years. Stress-relieving interlayers, such as paving fabrics, have been used in an attempt to reduce or delay reflective cracking. The effectiveness of paving fabrics in reducing reflection cracking is related to joint or crack movement in the underlying pavement, crack width, overlay thickness, subgrade conditions, climate, and traffic volume. The nonwoven geotextiles are installed between the old and new asphalt layers. Paving fabrics enhance performance through two mechanisms: stress relief and waterproofing. Several factors including proper installation, remedial work performed before overlay, overlay thickness, variability of pavement strength, existing pavement condition, base/subgrade support condition, and traffic volume affect the performance. The primary objective of this study was to conduct a long-term monitoring of the paving fabric interlayer systems to evaluate its effectiveness and performance. A comprehensive testing, monitoring, and analysis program were undertaken, where twelve 500-ft pavement sections of a four-lane highway were rehabilitated, and then monitored for seven years. A comparison between the performance of paving fabric treatment systems and control sections is reported. Lessons learned, and the various factors are discussed.

Keywords: monitoring, paving fabrics, performance, reflective cracking

Procedia PDF Downloads 327

Authors: N. Šarlija, S. Pfeifer, M. Jeger, A. Bilandžić

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Enterprise growth is generally considered as a key driver of competitiveness, employment, economic development and social inclusion. As such, it is perceived to be a highly desirable outcome of entrepreneurship for scholars and decision makers. The huge academic debate resulted in the multitude of theoretical frameworks focused on explaining growth stages, determinants and future prospects. It has been widely accepted that enterprise growth is most likely nonlinear, temporal and related to the variety of factors which reflect the individual, firm, organizational, industry or environmental determinants of growth. However, factors that affect growth are not easily captured, instruments to measure those factors are often arbitrary, causality between variables and growth is elusive, indicating that growth is not easily modeled. Furthermore, in line with heterogeneous nature of the growth phenomenon, there is a vast number of measurement constructs assessing growth which are used interchangeably. Differences among various growth measures, at conceptual as well as at operationalization level, can hinder theory development which emphasizes the need for more empirically robust studies. In line with these highlights, the main purpose of this paper is twofold. Firstly, to compare structure and performance of three growth prediction models based on the main growth measures: Revenues, employment and assets growth. Secondly, to explore the prospects of financial indicators, set as exact, visible, standardized and accessible variables, to serve as determinants of enterprise growth. Finally, to contribute to the understanding of the implications on research results and recommendations for growth caused by different growth measures. The models include a range of financial indicators as lag determinants of the enterprises’ performances during the 2008-2013, extracted from the national register of the financial statements of SMEs in Croatia. The design and testing stage of the modeling used the logistic regression procedures. Findings confirm that growth prediction models based on different measures of growth have different set of predictors. Moreover, the relationship between particular predictors and growth measure is inconsistent, namely the same predictor positively related to one growth measure may exert negative effect on a different growth measure. Overall, financial indicators alone can serve as good proxy of growth and yield adequate predictive power of the models. The paper sheds light on both methodology and conceptual framework of enterprise growth by using a range of variables which serve as a proxy for the multitude of internal and external determinants, but are unlike them, accessible, available, exact and free of perceptual nuances in building up the model. Selection of the growth measure seems to have significant impact on the implications and recommendations related to growth. Furthermore, the paper points out to potential pitfalls of measuring and predicting growth. Overall, the results and the implications of the study are relevant for advancing academic debates on growth-related methodology, and can contribute to evidence-based decisions of policy makers.

Keywords: growth measurement constructs, logistic regression, prediction of growth potential, small and medium-sized enterprises

Procedia PDF Downloads 247

Authors: Endri Yuliati, Siti Helmyati, Narendra Yoga Hendarta, Moh. Darussalam, Maharani Jibbriella, Fauziah Oktavira Hayati Fakhruddin, Faisal Hanin

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Background: Both of iron and zinc has vital role in growth. The prebiotics fermentation by probiotics lower the acidity of intestine thus increase mineral absorption. Objective: To know the effect of double fortification of synbiotic fermented milk on growth. Methods: An Indonesian local isolate, Lactobacillus plantarum Dad-13 and Fructo-oligosaccharides (FOS) were used in making synbiotic fermented milk. It, then was double fortified with 100 ppm Fe and 50 ppm Zn. A total of 15 Wistar rats were divided into 3 groups and given: synbiotic fermented milk (CO), synbiotic fermented milk with NaFeEDTA and Zn acetate (NZ) and synbiotic fermented milk with Fe gluconate and Zn acetate (FZ) every day for one month. Body weight and body length were measured before, every week and after intervention. Results: Body weight and body length were similar at baseline among three groups (p > 0.05). All groups showed similar growth after intervention, from 62,40 + 6,1 to 109,0 + 9,0; 62,0 + 7,9 to 110,3 + 14,2; and 64,40 + 4,7 to 115,1 + 7,7 g for CO, NZ, and FZ, respectively (p > 0.05). The body length after intervention was also similar (p > 0.05). Conclusion: Fortification of iron and zinc did not modify effect of synbiotic fermented milk on growth.

Keywords: probiotics, prebiotics, iron, zinc, growth

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Authors: G. Beulah Gnana Ananthi, A. Jaffer Sathick, M. Abirami

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Fibre reinforced concrete (FRC) has been widely used in industrial pavements and non-structural elements such as pipes, culverts, tunnels, and precast elements. The strengthening effect of fibres in the concrete matrix is achieved primarily due to the bridging effect of fibres at the crack interfaces. The workability of the concrete was reduced on addition of high percentages of steel fibres. The optimum percentage of addition of steel fibres varies with its aspect ratio. For this study, 1% addition of steel has resulted to be the optimum percentage for both Hooked and Crimped Steel Fibres and was added to the beam specimens. The fibres restrain efficiently the cracks and take up residual stresses beyond the cracking. In this sense, diagonal cracks are effectively stitched up by fibres crossing it. The failure of beams within the shear failure range changed from shear to flexure in the presence of sufficient steel fibre quantity. The shear strength is increased with the addition of steel fibres and had exceeded the enhancement obtained with the transverse reinforcement. However, such increase is not directly in proportion with the quantity of fibres used. Considering all the clarification made in the present experimental investigation, it is concluded that 1% of crimped steel fibres with an aspect ratio of 50 is the best type of steel fibres for replacement of transverse stirrups in high strength concrete beams when compared to the steel fibres with hooked ends.

Keywords: fibre reinforced concrete, steel fibre, shear strength, crack pattern

Procedia PDF Downloads 139

Authors: Ksenija Dumičić, Anita Čeh Časni, Berislav Žmuk

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The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s method) and Holt-Winters` method which accounts for trend and seasonality. The results of the empirical analysis showed that the optimal model for forecasting unemployment rate in Greece was Holt-Winters` additive method. In the case of Spain, according to MAPE, the optimal model was double exponential smoothing model. Furthermore, for Croatia and Italy the best forecasting model for unemployment rate was Holt-Winters` multiplicative model, whereas in the case of Portugal the best model to forecast unemployment rate was Double exponential smoothing model. Our findings are in line with European Commission unemployment rate estimates.

Keywords: European Union countries, exponential smoothing methods, forecast accuracy unemployment rate

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Authors: Aynur Aker, Hasan Kaya

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In recent years, the use of the aluminum based alloys in the industry and technology are increasing. Alloying elements in aluminum have further been improving the strength and stiffness properties that provide superior compared to other metals. In this study, investigation of physical properties (microstructure, microhardness, tensile strength, electrical conductivity and thermal properties) in the Al-12.6wt.%Si-%2wt.Ni ternary alloy were investigated. Al-Si-Ni alloy was prepared in a graphite crucible under vacuum atmosphere. The samples were directionally solidified upwards with different growth rate (V) at constant temperature gradient G (7.73 K/mm). The microstructures (flake spacings, λ), microhardness (HV), ultimate tensile strength, electrical resistivity and thermal properties enthalpy of fusion and specific heat and melting temperature) of the samples were measured. Influence of the growth rate and flake spacings on microhardness, ultimate tensile strength and electrical resistivity were investigated and relationships between them were experimentally obtained by using regression analysis. According to results, λ values decrease with increasing V, but microhardness, ultimate tensile strength, electrical resistivity values increase with increasing V. Variations of electrical resistivity for cast samples with the temperature in the range of 300-1200 K were also measured by using a standard dc four-point probe technique. The enthalpy of fusion and specific heat for the same alloy was also determined by means of differential scanning calorimeter (DSC) from heating trace during the transformation from liquid to solid. The results obtained in this work were compared with the previous similar experimental results obtained for binary and ternary alloys.

Keywords: electrical resistivity, enthalpy, microhardness, solidification, tensile stress

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Authors: G. Raviraja Shetty, K. G. Poojitha

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An experiment was conducted to study the effect of different growth regulators on seed germination and vegetative propagation by cuttings of an endangered medicinal plant species, Celastrus paniculatus Willd. at College of Horticulture, Mudigere during June- Sept 2014. Various growth parameters were recorded for seed germination and significantly higher results for Rate of germination (0.78), Plant vigour (2082.74), Plant height (22.10cm), number of leaves (7.83) fresh weight (136.58mg) and dry weight of plant (59.16mg) noticed in seeds treated with GA3 400 ppm when compared to control. In vegetative propagation the cuttings treated with IBA 2000 ppm recorded significantly highest sprouting percentage (98.00) when compared to control (71.00). The results of present investigation will be helpful for large scale multiplication of the species. It will also help for cultivation and conservation of this endangered species.

Keywords: Celastrus paniculatus Willd, seeds, germination, cuttings

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Authors: Lian Zeng

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Double-Spear 1-H2-1 (DS1-H2-1) is an oncolytic virus and an innovative biological drug candidate. The chemical composition of the drug product is a live attenuated West Nile virus (WNV) containing the human T cell costimulator (CD86) gene. After intratumoral injection, the virus can rapidly self-replicate in the injected site and lyse/kill the tumor by repeated infection among tumor cells. We also established xenograft tumor models in mice to evaluate the drug candidate's efficacy on those tumors. The results from preclinical studies on transplanted tumors in immunodeficient mice showed that DS1-H2-1 had significant oncolytic effects on human-origin cancers: it completely (100%) shrieked human glioma; limited human neuroblastoma growth reached as high as 95% growth inhibition rate (%TGITW). The safety data of preclinical animal experiments confirmed that DS1-H2-1 is safe as a biological drug for clinical use. In the preclinical drug efficacy experiment, virus-drug administration with different doses did not show abnormal signs and disease symptoms in more than 300 tested mice, and no side effects or death occurred through various administration routes. Intravenous administration did not cause acute infectious disease or other side effects. However, the replication capacity of the virus in tumor tissue via intravenous administration is only 1% of that of direct intratumoral administration. The direct intratumoral administration of DS1-H2-1 had a higher rate of viral replication. Therefore, choosing direct intratumoral injection can ensure both efficacy and safety.

Keywords: oncolytic virus, WNV-CD86, immunotherapy drugs, glioma, neuroblastoma

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Authors: Mohammad Reza Fooladi

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The patent system which fits with industrial and economic situation in the country, by strengthening research and development, technology transfer and increasing foreign investment can provide economic and industrial growth of the countries. However, the extent and manner of support should be commensurate with the country's conditions and comply with significant rules to have a positive effect on research and development, technology transfer and the amount of foreign investment. The present article tries to while reviewing the state of effectiveness of the patent system on economic growth, to illustrate the characteristics of the patent system fits Afghanistan and according to this matter provide the necessary recommendations about the improvement of laws and regulations related to the patent in Afghanistan.

Keywords: patent, economic growth, technology transfer, Afghanistan

Procedia PDF Downloads 407

Authors: Mohd Asrul Affendi Bi Abdullah, Nyi Nyi Naing

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The purpose of this study was to identify comparable manner between negative binomial death rate (NBDR) and zero inflated negative binomial death rate (ZINBDR) with died patients with (HIV + T B+) and (HIV + T B−). HIV and TB is a serious world wide problem in the developing country. Data were analyzed with applying NBDR and ZINBDR to make comparison which a favorable model is better to used. The ZINBDR model is able to account for the disproportionately large number of zero within the data and is shown to be a consistently better fit than the NBDR model. Hence, as a results ZINBDR model is a superior fit to the data than the NBDR model and provides additional information regarding the died mechanisms HIV+TB. The ZINBDR model is shown to be a use tool for analysis death rate according age categorical.

Keywords: zero inflated negative binomial death rate, HIV and TB, AIC and BIC, death rate

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Authors: Mujahid Farid, Shafaqat Ali, Muhammad Bilal Shakoor

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Heavy metals pollution of soil is a prevalent global problem and oilseed rape (Brassica napus L.) are considered useful for the restoration of metal contaminated soils. Phytoextraction is an in-situ environment-friendly technique for the clean-up of contaminated soils. Response to cadmium (Cd) toxicity in combination with a chelator, Ethylenediamminetetraacetic acid (EDTA) was studied in oilseed rape grown hydroponically in greenhouse conditions under three levels of Cd (0, 10, and 50 µM) and two levels of EDTA (0 and 2.5 mM). Cd decreased plant growth, biomass and chlorophyll concentrations while the application of EDTA enhanced plant growth by reducing Cd-induced effects in Cd-stressed plants. Significant decrease in photosynthetic parameters was found by the Cd alone. Addition of EDTA improved the net photosynthetic and gas exchange capacity of plants under Cd stress. Cd at 10 and 50 μM significantly increased electrolyte leakage, the production of hydrogen peroxidase (H2O2) and malondialdehyde (MDA) and a significant reduction was observed in the activities of catalase (CAT), guaiacol peroxidase (POD), ascorbate peroxidase (APX), and superoxide dismutase under Cd stress plants. Application of EDTA at the rate of 2.5 mM alone and with combination of Cd increased the antioxidant enzymes activities and reduced the electrolyte leakage and production of H2O2 and MDA. Oilseed rape (Brassica napus L.) actively accumulated Cd in roots, stems and leaves and the addition of EDTA boosted the uptake and accumulation of Cd in oil seed rape by dissociating Cd in culture media. The present results suggest that under 8 weeks Cd-induced stress, application of EDTA significantly improve plant growth, chlorophyll content, photosynthetic, gas exchange capacity, improving enzymes activities and increased the metal uptake in roots, stems and leaves of oilseed rape (Brassica napus L.) respectively.

Keywords: antioxidant enzymes, cadmium, chelator, EDTA, growth, oilseed rape

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Authors: Suhaida Salleh, Tee Yei Kheng

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Black pod is the most commonly destructive disease of cacao (Theobroma cacao) which cause major losses to global production of cocoa beans. The genus of Phytophthora is the important pathogen of this disease worldwide. The species of P. megakarya causes black pod disease in West Africa, whereas P. capsici and P. citrophthora cause the incident in Central and South America. In Malaysia, this disease is caused by P. palmivora which infect all stages of pod development including flower cushion, cherelle, immature and mature pods. This pathogen destroys up to 10% of trees yearly through stem cankers and causes 20 to 30% pod damages through black pod rot. Since P. palmivora has a high impact on cocoa yield, it is crucial to identify some of the abiotic factors that can constrain their growth. In an effort to evaluate the effect of different substrates and temperatures to the growth of P. palmivora, a laboratory study was done under a different range of temperatures. Different substrate for the growth of P. palmivora were used which are corn meal agar (CMA) media and detached pod of cocoa. An agar plug of seven days old of P. palmivora growth was transferred on both substrates and incubated at 24, 27, 30, 33 and 36ᵒC, respectively. The diameter of lesion on pod and the cultural growth of pathogen was recorded for 7 consecutive days. The optimum incubation temperature of P. palmivora on both substrates is at 27ᵒC. However, the growth tends to be inhibited as the temperature increases. No lesion developed on pod surface incubated at 36ᵒC and only a small lesion observed at 33ᵒC. The sporulation with the formation of white mycelial growth on pod surface was only visible at optimum temperature, 27ᵒC. On CMA, the pathogen grew over the entire range of temperatures tested. The study is, therefore, concluded that P. palmivora grow the best at temperature of 27ᵒC on both substrates and their growth begin to inhibit when the temperature rises to more than 27ᵒC. The growth pattern of this pathogen is similar on both pod surface and cultural media.

Keywords: cocoa, Phytophthora palmivora, substrate, temperature

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Authors: Preshanthan Moodley, E. B. Gueguim Kana

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This study examines the kinetics of S. cerevisiae BY4743 growth and bioethanol production from sugarcane leaf waste (SLW), utilizing two different optimized pretreatment regimes; under two fermentation modes: steam salt-alkali filtered enzymatic hydrolysate (SSA-F), steam salt-alkali unfiltered (SSA-U), microwave salt-alkali filtered (MSA-F) and microwave salt-alkali unfiltered (MSA-U). The kinetic coefficients were determined by fitting the Monod, modified Gompertz, and logistic models to the experimental data with high coefficients of determination R² > 0.97. A maximum specific growth rate (µₘₐₓ) of 0.153 h⁻¹ was obtained under SSA-F and SSA-U whereas, 0.150 h⁻¹ was observed with MSA-F and MSA-U. SSA-U gave a potential maximum bioethanol concentration (Pₘ) of 31.06 g/L compared to 30.49, 23.26 and 21.79g/L for SSA-F, MSA-F and MSA-U respectively. An insignificant difference was observed in the μmax and Pm for the filtered and unfiltered enzymatic hydrolysate for both SSA and MSA pretreatments, thus potentially reducing a unit operation. These findings provide significant insights for process scale up.

Keywords: lignocellulosic bioethanol, microwave pretreatment, sugarcane leaves, kinetics

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Authors: F. O. Oboite, P. G. Comeau

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Advance regeneration is present in many lodgepole pine stands in Alberta. When the overstory pine canopy is killed by Mountain Pine Beetle (MPB) the growth of this advance is likely to increase. Understanding the growth response of these understory tree species is needed to improve mid-term timber supply projections and management decisions. To quantify the growth (diameter, height, height/diameter ratio) responses of black spruce and white spruce to lodgepole pine mortality, sample trees of black and white spruce advance regeneration were selected from 7 lodgepole pine dominated stands (5 attacked; 2 control) in the Foothills Region of western Alberta. Measurements were collected 7-8 years after MPB attack across a wide range of spruce height and stand densities. Analysis was done using mixed model linear regression. Result indicates that there was an increase in both diameter and height growth after MPB attack; however, this increase in growth was delayed for about four years. Both spruce species had similar height response and their height/diameter ratio decreased after release, partly as a result of increased understory light associated with loss of needles in the pine canopy. In addition, the diameter and height growth responses of both spruce species were strongly related to density, prerelease growth and initial size.

Keywords: mountain pine beetle, forest regeneration, lodgepole pine, growth response

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Authors: Edmund Kwablah, Anthony Amoah

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The merits associated with Foreign Direct Investment (FDI) inflows to host countries in Sub-Saharan Africa cannot be overemphasized. Against this background, countries have sought to design and implement strategic policies geared towards enhacing FDI and promoting economic growth. In this study, we used the Fully Modified Ordinary Least Squares technique and a panel data for Sub-Saharan African (SSA) countries spanning from 1998 to 2016. We hypothesize that FDI’s effect on economic growth is contingent on some absorptive capacities (e.g., financial market development and economic freedom) of the host country. We used financial market data that accounts for market fragility as a measure of financial market development and economic freedom data which uses the overall score of all the freedom indicators as a measure of economic freedom. Our results suggest that FDI has a statistically positive effect on economic growth when we account for host country’s absorptive capacities. However, a negative relationship will ensue if these absorptive capacities are not accounted for. We recommend that a developing continent like SSA should focus on identifying and building the relevant absorptive capacities that can translate the effect of FDI into a positive growth. This is because an economy with sound absorptive capacities reduces business risk and spur economic growth.

Keywords: FDI, absorptive capacity, economic growth, FMOLS, Fully Modified Ordinary Least Squares, SSA

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Authors: Xu Wang

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This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.

Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty

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Authors: Fajana Sola Isaac

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In the last two decades, we have witnessed an increased interest in exchange rate pass-through (ERPT) in developing economies and emerging markets. This is perhaps due to the acknowledged significance of the pattern of exchange rate pass-through as a key instrument in monetary policy design, principally in retort to a shock in exchange rate in literature. This paper analyzed Exchange Rate Pass-Through by A Model of Oil Prices and Asymmetric Exchange Rate Fluctuations in Selected African Countries. The study adopted A Non-Linear Autoregressive Distributed Lag approach using yearly data on Algeria, Burundi, Nigeria and South Africa from 1986 to 2022. The paper found asymmetry in exchange rate pass-through in net oil-importing and net oil-exporting countries in the short run during the period under review. An ERPT exhibited a complete pass-through in the short run in the case of net oil-importing countries but an incomplete pass-through in the case of the net oil-exporting countries that were examined. An extended result revealed a significant impact of oil price shock on exchange rate pass-through to domestic price in the long run only for net oil importing countries. The Wald restriction test also confirms the evidence of asymmetric with the role of oil price acting as an accelerator to exchange rate pass-through to domestic price in the countries examined. The study found the outcome to be very useful for gaining expansive knowledge on the external shock impact on ERPT and could be of critical value for national monetary policy decisions on inflation targeting, especially for countries examined and other developing net oil importers and exporters.

Keywords: pass through, exchange rate, ARDL, monetary policy

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Authors: E. Poupelloz, S. Gauffinet

Abstract:

Ettringite Ca₆Al₂(SO₄)₃(OH)₁₂26H₂O is one of the major hydrates formed during cement hydration. Ettringite forms in Portland cement from the reaction between tricalcium aluminate Ca₃Al₂O₆ and calcium sulfate. Ettringite is also present in calcium sulfoaluminate cement in which it is the major hydrate, formed by the reaction between yeelimite Ca₄(AlO₂)₆SO₄ and calcium sulfate. About the formation of ettringite, numerous results are available in the literature even if some issues are still under discussion. However, almost all published work about ettringite was done on cementitious systems. Yet in cement, hydration reactions are very complex, the result of dissolution-precipitation processes and are submitted to various interactions. Understanding the formation process of a phase alone, here ettringite, is the first step to later understand the much more complex reactions happening in cement. This study is crucial for the comprehension of early cement hydration and physical behavior. Indeed formation of hydrates, in particular, ettringite, will have an influence on the rheological properties of the cement paste and on the need for admixtures. To make progress toward the understanding of existing phenomena, a specific study of nucleation and growth processes of ettringite was conducted. First ettringite nucleation was studied in ionic aqueous solutions, with controlled but different experimental conditions, as different supersaturation degrees (β), different pH or presence of exogenous ions. Through induction time measurements, interfacial ettringite crystals solution energies (γ) were determined. Growth of ettringite in supersaturated solutions was also studied through chain crystallization reactions. Specific BET surface area measurements and Scanning Electron Microscopy observations seemed to prove that growth process is favored over the nucleation process when ettringite crystals are initially present in a solution with a low supersaturation degree. The influence of stirring on ettringite formation was also investigated. Observation was made that intensity and nature of stirring have a high influence on the size of ettringite needles formed. Needle sizes vary from less than 10µm long depending on the stirring to almost 100µm long without any stirring. During all previously mentioned experiments, initially present ions are consumed to form ettringite in such a way that the supersaturation degree with regard to ettringite is decreasing over time. To avoid this phenomenon a device compensating the drop of ion concentrations by adding some more solutions, and therefore always have constant ionic concentrations, was used. This constant β recreates the conditions of the beginning of cement paste hydration, when the dissolution of solid reagents compensates the consumption of ions to form hydrates. This device allowed the determination of the ettringite precipitation rate as a function of the supersaturation degree β. Taking samples at different time during ettringite precipitation and doing BET measurements allowed the determination of the interfacial growth rate of ettringite in m²/s. This work will lead to a better understanding and control of ettringite formation alone and thus during cements hydration. This study will also ultimately define the impact of ettringite formation process on the rheology of cement pastes at early age, which is a crucial parameter from a practical point of view.

Keywords: cement hydration, ettringite, morphology of crystals, nucleation-growth process

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Authors: Cheng-Cao Sun, Shu-Jun Li, De-Jia Li

Abstract:

Determinants of growth and metastasis in cancer remain of great interest to define. MicroRNAs (miRNAs) have frequently emerged as tumor metastatic regulator by acting on multiple signaling pathways. Here, we report the definition of miR-346 as an oncogenic microRNA that facilitates non-small cell lung cancer (NSCLC) cell growth and metastasis. XPC, an important DNA damage recognition factor in nucleotide excision repair was defined as a target for down-regulation by miR-346, functioning through direct interaction with the 3'-UTR of XPC mRNA. Blocking miR-346 by an antagomiR was sufficient to inhibit NSCLC cell growth and metastasis, an effect that could be phenol-copied by RNAi-mediated silencing of XPC. In vivo studies established that miR-346 overexpression was sufficient to promote tumor growth by A549 cells in xenografts mice, relative to control cells. Overall, our results defined miR-346 as an oncogenic miRNA in NSCLC, the levels of which contributed to tumor growth and invasive aggressiveness.

Keywords: microRNA-346, miR-346, XPC, non-small cell lung cancer, oncogenesis

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Authors: A. B. A. Ahmed, D. I. Amar, R. M. Taha

Abstract:

This research aims to investigate callus induction, somatic embryogenesis and indirect plant regeneration of Crassula ovata (Mill.) Druce – the famous ornamental plant. Experiment no.1: Callus induction was obtained from leaf and stem explants on Murashige and Skoog (MS) medium supplemented with various plant growth regulators (PGRs). Effects of different PGRs, plant regeneration and subsequent plantlet conversion were also assessed. Indirect plant regeneration was achieved from the callus of stem explants by the addition of 1.5 mg/L Kinetin (KN) alone. Best shoot induction was achieved (6.5 shoots/per explant) after 60 days. For successful rooting, regenerated plantlets were sub-cultured on the same MS media supplemented with 1.5 mg/L KN alone. The rooted plantlets were acclimatized and the survival rate was 90%. Experiment no.2: Results revealed that 0.5 mg/L 2,4-D alone and in combination with 1.0 mg/L 6-Benzyladenine (BA) gave 89.8% callus from the stem explants as compared to leaf explants. Callus proliferation and somatic embryo formation were also evaluated by ‘Double Staining Method’ and different stages of somatic embryogenesis were revealed by scanning electron microscope. Full Strength MS medium produced the highest number (49.6%) of cotyledonary stage somatic embryos (SEs). Mature cotyledonary stage SEs developed into plantlets after 12 weeks of culture. Well-rooted plantlets were successfully acclimatized at the survival rate of 85%. Indirectly regenerated plants did not show any detectable variation in morphological and growth characteristics when compared with the donor plant.

Keywords: callus induction, indirect plant regeneration, double staining, somatic embryogenesis, Crassula ovata

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Authors: Nika Botchorishvili, Olgha Giorgishvili

Abstract:

Many-year investigations of the nature of damping creep of rigid bodies and materials led to the discovery of the fundamental character of this phenomenon. It occurs only when a rigid body comes in contact with a surface-active medium (liquid or gaseous), which brings about a decrease of the free surface energy of a rigid body as a result of adsorption, chemo-sorption or wetting. The reversibility of the process consists of a gradual disappearance of creep deformation when the action of a surface-active medium stops. To clarify the essence of processes, a physical model is constructed by using Griffith’s scheme and the well-known representation formulas of deformation origination and failure processes. The total creep deformation is caused by the formation and opening of microcracks throughout the material volume under the action of load. This supposedly happens in macroscopically homogeneous silicate and organic glasses, while in polycrystals (tuff, gypsum, steel) contacting with a surface-active medium micro crack are formed mainly on the grain boundaries. The creep of rubber is due to its swelling activated by stress. Acknowledgment: All experiments are financially supported by Shota Rustaveli National Science Foundation of Georgia. Study of Properties of Concretes (Both Ordinary and Compacted) Made of Local Building Materials and Containing Admixtures, and Their Further Introduction in Construction Operations and Road Building. DP2016_26. 22.12.2016.

Keywords: process reversibility, surface-active medium, Rebinder’s effect, micro crack, creep

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Authors: Huda Aldossari

Abstract:

Members of the Brassicaceae family, such as rocket species, have high concentrations of glucosinolates (GLSs). GSLs and isothiocyanates (ITCs), the product of GLSs hydrolysis, are the most influential compounds that affect flavour in rocket species. Aside from their contribution to the flavour, GSLs and ITCs are of particular interest due to their potential ability to inhibit the growth of human pathogenic bacteria such as E. coli O157. Quantitative and qualitative analysis of glucosinolate compounds in rocket extracts was obtained by Liquid Chromatography-Mass Spectrometry (LC–MS).Each individual component of non-volatile GLSs and ITCs was isolated by High-Performance Liquid Chromatography (HPLC) fractionation. The identity and purity of each fraction were confirmed using Ultra High-Performance Liquid Chromatography (UPLC). The separation of glucosinolates in the complex rocket extractions was performed by optimizing a HPLC fractionation method through changing the mobile phase composition, solvent gradient, and the flow rate. As a result, six glucosinolates compounds (Glucosativin, 4-Methoxyglucobrassicin, Glucotropaeolin GTP, Glucoiberin GIB, Diglucothiobenin, and Sinigrin) have been isolated, identified and quantified in the complex samples. This step aims to evaluate the antibacterial activity of glucosinolates and their enzymatic hydrolysis against bacterial growth of E.coli k12. Therefore, fractions from this study will be used to determine the most active compounds by investigating the efficacy of each component of GLSs and ITCs at inhibiting bacterial growth.

Keywords: rocket, glucosinolates, E.coli k12., HPLC fractionatio

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Megha Agarwal

Abstract:

The research paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as price/earnings ratio, price/book value ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow Method (FCFM) all provide different estimates of valuation of the Indian giant corporate Reliance India Limited (RIL). An ex-post analysis of published accounting and financial data for four financial years from 2008-09 to 2011-12 has been conducted. A comparison of these valuation estimates with the actual market capitalization of the company shows that the complex accounting based model AOIGM provides closest forecasts. These different estimates may be derived due to inconsistencies in discount rate, growth rates and the other forecasted variables. Although inputs for earnings based models may be available to the investor and analysts through published statements, precise estimation of free cash flows may be better undertaken by the internal management. The estimation of value from more stable parameters as residual operating income and RNOA could be considered superior to the valuations from more volatile return on equity.

Keywords: earnings, cash flows, valuation, Residual Earnings Model (REM)

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Authors: Nameer A. Alwash, Dunia A. Abd AlRadha, Arshed M. Aljanaby

Abstract:

This study present an experimental investigation of composite behavior for hybrid reinforced concrete slab on girder from locale material in Iraq, ordinary concrete, NC, in slab and reactive powder concrete in girder ,RPC, with steel fibers of different types(straight, hook, and mix between its), tested as simply supported span subjected under two point loading, also study effects on overall behavior such as the ultimate load, crack width and deflection. The result shows that the most suitable for production girder from RPC by using 2% micro straight steel fiber, in terms of ultimate strength and min crack width. Also the results shows that using RPC in girder of composite section increased ultimate load by 79% when compared with same section made of NC, and increased the shear strength which erased the effect of changing reinforcement in shear, and using RPC in girder and epoxy (in shear transfer between composite section) (meaning no stirrups) equivalent presence of shear reinforcement by 90% when compared with same section using Φ8@100 as shear reinforcement. And the result shows that changing the cross section girder shape of the composite section to inverted T, with same section area, increased the ultimate load by 5% when compared with same section of rectangular shape girder.

Keywords: reactive powder concrete, RPC, hybrid concrete, composite section, RC girder, RC slab, shear connecters, inverted T section, shear reinforcment, shear span over effective depth

Procedia PDF Downloads 354