Search results for: investment efficiency

Authors: Ridwan Kiay Demak, Firmansyahrullah, Muchammad Sibro Mulis, Eko Tri Wasisto, Nixon Poltak Frederic, Agung Putu Andika, Lapo Ajis Kamamu, Muhammad Sobirin, Kornelius Eppang

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PC Prove LSM successfully improved the efficiency of Own Used Fuel Gas with the "Lotion" method in the PT Pertamina EP Cepu Donggi Matindok Generating System. The innovation of using the "LOTION" (LOAD PRIORITY SELECTION) method in the generating system is modeling that can provide a priority qualification of main and non-main equipment to keep gas processing running even though it leaves 1 GTG operating. GTG operating system has been integrated, controlled, and monitored properly through PC programs and web-based access to answer Industry 4.0 problems. The results of these improvements have succeeded in making Donggi Matindok Field Production reach 98.77 MMSCFD and become a proper EMAS candidate in 2022-2023. Additional revenue from increasing the efficiency of the use of own used gas amounting to USD USD 5.06 Million per year and reducing operational costs from maintenance efficiency (ABO) due to saving running hours GTG amounted to USD 3.26 Million per year. Continuity of fuel gas availability for the GTG generation system can maintain the operational reliability of the plant, which is 3.833333 MMSCFD. And reduced gas emissions wasted to the environment by 33,810 tons of C02 eq per year.

Keywords: LOTION method, load priority selection, fuel gas efficiency, gas turbine generator, reduce emissions

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Authors: Oluwasefunmi Eunice Irewole, Enrique Armas Arévalos

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Agriculture has played a crucial role in the economy and the development of many countries. Moreover, the basic needs for human survival are; food, shelter, and cloth are link on agricultural production. Most developed countries see that agriculture provides them with food and raw materials for different goods such as (shelter, medicine, fuel and clothing) which has led to an increase in incomes, livelihoods and standard of living. This study aimed at analysing the relationship between International competitiveness of agricultural products, with the area, fertilizer, labour force, economic growth, foreign direct investment, exchange rate and inflation rate in Latin America during the period of 1991-to 2019. In this study, panel data econometric methods were used, as well as cross-section dependence (Pesaran test), unit root (cross-section Augumented Dickey Fuller and Cross-sectional Im, Pesaran, and Shin tests), cointergration (Pedroni and Fisher-Johansen tests), and heterogeneous causality (Pedroni and Fisher-Johansen tests) (Hurlin and Dumitrescu test). The results reveal that the model has cross-sectional dependency and that they are integrated at one I. (1). The "fully modified OLS and dynamic OLS estimators" were used to examine the existence of a long-term relationship, and it was found that a long-term relationship existed between the selected variables. The study revealed a positive significant relationship between International Competitiveness of the agricultural raw material and area, fertilizer, labour force, economic growth, and foreign direct investment, while international competitiveness has a negative relationship with the advantages of the exchange rate and inflation. The economy policy recommendations deducted from this investigation is that Foreign Direct Investment and the labour force have a positive contribution to the increase of International Competitiveness of agricultural products.

Keywords: revealed comparative advantage, agricultural products, area, fertilizer, economic growth, granger causality, panel unit root

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Authors: Juan Peña Aguilar, Lilia Villasana, Rodrigo Valencia, Alberto Pastrana, Martin Vivanco, Juan Peña C

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Each year a growing number of companies entering Mexico in search of the domestic market share. These activities, including stores, telephone long distance and local raw materials and energy, and particularly the financial sector, have managed to significantly increase its weight in the flows of FDI in Mexico , however, you should consider whether these trends FDI are positive for the Mexican economy and these activities increase Mexican exports in the medium term , and its share in GDP , gross fixed capital formation and employment. In general stresses that these activities, by far, have been unable to significantly generate linkages with the rest of the economy, a process that has not favored with competitiveness policies and activities aimed at these neutral or horizontal. Since the nineties foreign direct investment (FDI) has shown a remarkable dynamism, both internationally and in Latin America and in Mexico. Only in Mexico the first recipient of FDI in importance in Latin America during 1990-1995 and was displaced by Brazil since FDI increased from levels below 1 % of GDP during the eighties to around 3 % of GDP during the nineties. Its impact has been significant not only from a macroeconomic perspective , it has also allowed the generation of a new industrial production structure and organization, parallel to a significant modernization of a segment of the economy. The case of Mexico also is particularly interesting and relevant because the destination of FDI until 1993 had focused on the purchase of state assets during privatization process. This paper aims to present FDI flows in Mexico and analyze the different business strategies that have been touched and encouraged by the FDI. On the one hand, looking briefly discuss regulatory issues and source and recipient of FDI sectors. Furthermore, the paper presents in more detail the impacts and changes that generated the FDI contribution of FDI in the Mexican economy , besides the macroeconomic context and later legislative changes that resulted in the current regulations is examined around FDI in Mexico, including aspects of the Free Trade Agreement (NAFTA). It is worth noting that foreign investment can not only be considered from the perspective of the receiving economic units. Instead, these flows also reflect the strategic interests of transnational corporations (TNCs) and other companies seeking access to markets and increased competitiveness of their production networks and global distribution, among other reasons. Similarly it is important to note that foreign investment in its various forms is critically dependent on historical and temporal aspects. Thus, the same functionality can vary significantly depending on the specific characteristics of both receptor units as sources of FDI, including macroeconomic, institutional, industrial organization, and social aspects, among others.

Keywords: foreign direct investment (FDI), competitiveness, neoliberal regime, globalization, gross domestic product (GDP), NAFTA, macroeconomic

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Authors: Kyonghoon Kim, Wonyoung Park, Taeil Park

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In 1994, Korea experienced a national tragedy of Seongsu Bridge collapse. The accident was severe enough to alert governmental officers to the problem of existing management policy for national infrastructures. As a result, government legislated the ‘Guidelines for the safety inspection and test of infrastructure’ which have been utilized as the primary tool to make decision for the maintenance and rehabilitation of infrastructure for last twenty years. Although it is clear that the guideline established a basics how to evaluate and manage the condition of infrastructures in systematic manner, it is equally clear that the guideline needs improvements in order to obtain reasonable investment decisions for budget allocation. Because its inspection and evaluation procedures mainly focused on the structural condition of infrastructures, it was hard to make decision when the infrastructures were in same level of structural condition. In addition, it did not properly reflect various aspects of infrastructures such as performance, public demand, capacity, etc., which were more valuable to public. Regardless of the importance, these factors were commonly neglected in governmental decision-making process, because there factors were somewhat subjective and difficult to quantify in rational manner. Thus, this study proposes a framework to properly evaluate the serviceability indicators using AHP and Fuzzy approach. The framework is expected to assist governmental agency in establishing effective investment strategies for budget planning.

Keywords: infrastructure, evaluation, serviceability, fuzzy

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Authors: Marianna Nigra, Maicol Negrello

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Efficiency, productivity, and sustainability are important factors for structure and the application of processes in green building. Various previous studies have addressed efficiency, productivity, and sustainability separately. This research study aims to investigate the implications of these three factors taking together. Frequency analysis and the ranking techniques are carried out to explore the connection between these factors. The interconnection matrix has been developed and functional grouping is made based upon data from expert opinion and field professionals. The existence of a relationship, the type of relationship and the scaled impact have been drawn. Additionally, a system diagram has been developed to show the variable correlation. The results of expert opinion show that efficiency, productivity, and sustainability have a stronger impact on green buildings.

Keywords: green roof regulation, architecture, climate adaptation, resilience, innovation management

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Authors: Anu Soikkelii, Laura Sorri

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Finnish national research project, User- and Business-oriented Suburb Renovation Concept (KLIKK), was started in January 2012 and will end in June 2014. The perspective of energy efficiency is emphasised in the project, but also it addresses what improving the energy efficiency of suburban apartment buildings means from the standpoint of architecturally valuable buildings representing different periods. The project will also test the impacts of stricter energy efficiency requirements on renovation projects. The primary goal of the project is to develop a user-oriented, industrial, economic renovation concept for suburban apartment building renovation, extension and construction of additional storeys. The concept will make it possible to change from performance- and cost-based operation to novel service- and user-oriented, site-specifically tailored renovation methods utilizing integrated order and delivery chains.The present project is collaborating with Ministry of the Environment and participating cities in developing a new type of lighter town planning model for suburban renovations and in-fill construction. To support this, the project will simultaneously develop practices for environmental impact assessment tools in renovation and suburban supplementary and in-fill construction.

Keywords: energy efficiency, prefabrication, renovation concept, suburbs, sustainability, user-orientated

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Authors: Mohsen Sheikholeslami, Zahra Khalili, Ladan Momayez

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Impacts of environmental parameters and dust deposition on the efficiency of solar panel have been scrutinized in this article. To gain thermal output, trapezoidal cooling channel has been attached in the bottom of the panel incorporating ternary nanofluid. To produce working fluid, water has been mixed with Fe₃O₄-TiO₂-GO nanoparticles. Also, the arrangement of fins has been considered to grow the cooling rate of the silicon layer. The existence of a thermoelectric layer above the cooling channel leads to higher electrical output. Efficacy of ambient temperature (Ta), speed of wind (V𝓌ᵢₙ𝒹) and inlet temperature (Tᵢₙ) and velocity (Vin) of ternary nanofluid on performance of PVT has been assessed. As Tin increases, electrical efficiency declines about 3.63%. Increase of ambient temperature makes thermal performance enhance about 33.46%. The PVT efficiency decreases about 13.14% and 16.6% with augment of wind speed and dust deposition. CO₂ mitigation has been reduced about 15.49% in presence of dust while it increases about 17.38% with growth of ambient temperature.

Keywords: photovoltaic system, CO₂ mitigation, ternary nanofluid, thermoelectric generator, environmental parameters, trapezoidal cooling channel

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Authors: Weixing Tan

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Production of nutraceuticals from microalgae—a virtually untapped natural phyto-based source of which there are 200,000 to 1,000,000 species—offers a sustainable and healthy alternative to conventionally sourced nutraceuticals for the market. Microalgae can be grown organically using only natural sunlight, water and nutrients at an extremely fast rate, e.g. 10-100 times more efficiently than crops or trees. However, the commercial success of microalgae products at scale remains limited largely due to the lack of economically viable technologies. There are two major microalgae production systems or technologies currently available: 1) the open system as represented by open pond technology and 2) the closed system such as photobioreactors (PBR). Each carries its own unique features and challenges. Although an open system requires a lower initial capital investment relative to a PBR, it conveys many unavoidable drawbacks; for example, much lower productivity, difficulty in contamination control/cleaning, inconsistent product quality, inconvenience in automation, restriction in location selection, and unsuitability for cold areas – all directly linked to the system openness and flat underground design. On the other hand, a PBR system has characteristics almost entirely opposite to the open system, such as higher initial capital investment, better productivity, better contamination and environmental control, wider suitability in different climates, ease in automation, higher and consistent product quality, higher energy demand (particularly if using artificial lights), and variable operational expenses if not automated. Although closed systems like PBRs are not highly competitive yet in current nutraceutical supply market, technological advances can be made, in particular for the PBR technology, to narrow the gap significantly. One example is a readily scalable P2P Microalgae PBR Technology at Grande Prairie Regional College, Canada, developed over 11 years considering return on investment (ROI) for key production processes. The P2P PBR system is approaching economic viability at a pre-commercial stage due to five ROI-integrated major components. They include: (1) optimum use of free sunlight through attenuation (patented); (2) simple, economical, and chemical-free harvesting (patent ready to file); (3) optimum pH- and nutrient-balanced culture medium (published), (4) reliable water and nutrient recycling system (trade secret); and (5) low-cost automated system design (trade secret). These innovations have allowed P2P Microalgae Technology to increase daily yield to 106 g/m2/day of Chlorella vulgaris, which contains 50% proteins and 2-3% omega-3. Based on the current market prices and scale-up factors, this P2P PBR system presents as a promising microalgae technology for market competitive nutraceutical supply.

Keywords: microalgae technology, nutraceuticals, open pond, photobioreactor PBR, return on investment ROI, technological advances

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Authors: Amit Kumar Dwivedi, Priyanko Ghosh

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Data Envelopment analysis (DEA) has been used to calculate the technical and scale efficiency measures of the public and private sugar manufacturing firms of the Indian Sugar Industry (2006 to 2010). Within DEA framework, the input & Output oriented Variable Returns to Scale (VRS) & Constant Return to Scale (CRS) model is employed for the study of Decision making units (DMUs). A representative sample of 43 firms which account for major portion of the total market share is studied. The selection criterion for the inclusion of a firm in the analysis was the total sales of INR 5,000 million or more in the year 2010. After reviewing the literature it is found that no study has been conducted in the context of Indian sugar manufacturing firms in the Post-liberalization era which motivates us to initiate the study.

Keywords: technical efficiency, Indian sugar manufacturing units, DEA, input output oriented

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Authors: Asowata Osamede

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Solar radiation provides the largest renewable energy potential on earth and photovoltaics (PV) are considered a promising technological solution to support the global transformation to a low-carbon economy and reduce dependence on fossil fuels. The aim of this paper is to evaluate the efficiency of power conditioning devices with a focus on the Buck and Boost DC-DC converters (12 V, 24 V and 48 V) in a basic off grid PV system with a varying load profile. This would assist in harnessing more of the available solar energy. The practical setup consists of a PV panel that is set to an orientation angle of 0º N, with corresponding tilt angles. Preliminary results, which include data analysis showing the power loss in the system and efficiency, indicate that the 12V DC-DC converter coupled with the load profile had the highest efficiency for a latitude of 26º S throughout the year.

Keywords: poly-crystalline PV panels, DC-DC converters, tilt and orientation angles, direct solar radiation, load profile

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Authors: Po-Hao Huang, Pei-Ju Chiang

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The structured light 3D scanner is commonly used for measuring the 3D shape of an object. Through projecting designed light patterns on the object, deformed patterns can be obtained and used for the geometric shape reconstruction. At present, Gray code is the most reliable and commonly used light pattern in the structured light 3D scanner. However, the trade-off between scanning efficiency and accuracy is a long-standing and challenging problem. The design of light patterns plays a significant role in the scanning efficiency and accuracy. Thereby, we proposed a novel encoding method integrating color information and Gray-code to improve the scanning efficiency. We will demonstrate that with the proposed method, the scanning time can be reduced to approximate half of the one needed by Gray-code without reduction of precision.

Keywords: gray-code, structured light scanner, 3D shape acquisition, 3D reconstruction

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Authors: Md. Asaduzzaman

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A Silicon-on-insulator (SOI) perfectly vertical fibre-to-chip grating coupler is proposed and designed based on engineered subwavelength structures. The high directionality of the coupler is achieved by implementing step gratings to realize asymmetric diffraction and by applying effective index variation with auxiliary ultra-subwavelength gratings. The proposed structure is numerically analysed by using two-dimensional Finite Difference Time Domain (2D FDTD) method and achieves 96% (-0.2 dB) coupling efficiency and 39 nm 1-dB bandwidth. This highly efficient GC is necessary for applications where coupling efficiency between the optical fibre and nanophotonics waveguide is critically important, for instance, experiments of the quantum photonics integrated circuits. Such efficient and broadband perfectly vertical grating couplers are also significantly advantageous in highly dense photonic packaging.

Keywords: diffraction grating, FDTD, grating couplers, nanophotonic

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Authors: Joseph Paul Chunga

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The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

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Authors: João Pereira Dos Santos

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The uneven spatial distribution of start-ups and their respective survival may reflect comparative advantages resulting from the local institutional background. For the first time, we explore this idea using Data Envelopment Analysis (DEA) to assess relative efficiency of Portuguese municipalities in this specific context. We depart from the related literature where expenditure is perceived as a desirable input by choosing a measure of fiscal responsibility and infrastructural variables in the first stage. Comparing results for 2006 and 2010, we find that mean performance decreased substantially with 1) the effects of the Global Financial Crisis; 2) as municipal population increases and 3) as financial independence decreases. A second stage is then computed employing a double-bootstrap procedure to evaluate how the regional context outside the control of local authorities (e.g. demographic characteristics and political preferences) impacts on efficiency.

Keywords: entrepreneurship, political economy, public finance, accountability, crisis, efficiency, Portuguese municipalities

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

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Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Abhinav Purohit, Shruthi S. Pradeep

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In today’s world, aviation industries are using turbofan engines (permutation of turboprop and turbojet) which meet the obligatory requirements to be fuel competent and to produce enough thrust to propel an aircraft. But one can imagine increasing the work output of this particular machine by reducing the input power. In striving to improve technologies, especially to augment the efficiency of the engine with some adaptations, which can be crooked to new concepts by introducing a step change in the turbofan engine development. One hopeful concept is, to de-couple the fan with the help of reduction gear box in a two spool shaft engine from the rest of the machinery to get more work output with maximum efficiency by reducing the load on the turbine shaft. By adapting this configuration we can get an additional degree of freedom to better optimize each component at different speeds. Since the components are running at different speeds we can get hold of preferable efficiency. Introducing water alcohol mixture to this concept would really help to get better results.

Keywords: emissions, fuel consumption, more power, turbofan

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Authors: Nicole Virgili, Romolo Remetti

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The aim of this work is to characterize, from radiation protection point of view, the emission into the environment of air contaminated by argon-41. In this research work, 41Ar is produced by a TR19PET cyclotron, operated at 19 MeV, installed at 'A. Gemelli' University Hospital, Rome, Italy, for fluorine-18 production. The production rate of 41Ar has been calculated on the basis of the scheduled operation cycles of the cyclotron and by utilising proper production algorithms. Then extensive Monte Carlo calculations, carried out by MCNP code, have allowed to determine the absolute detection efficiency to 41Ar gamma rays of a Geiger Muller detector placed in the terminal part of the chimney. Results showed unsatisfactory detection efficiency values and the need for integrating the detection system with more efficient detectors.

Keywords: Cyclotron, Geiger Muller detector, MCNPX, argon-41, emission of radioactive gas, detection efficiency determination

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Authors: Ehab El-Dabaa, Omnia Ali, Mohamed Abd El-Hady, Ahmed Osman

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Recombinant human interferon alpha 2 (rhIFN-α2) is FDA approved for treatment of some viral and malignant diseases. Approved pegylated rhIFN-α2 drugs have highly improved pharmacokinetics, pharmacodynamics and therapeutic efficiency compared to native protein. In this work, we studied the pegylation of purified properly refolded rhIFN-α2b using linear 20kDa PEG-NHS (polyethylene glycol- N-hydroxysuccinimidyl ester) to prepare pegylated rhIFN-α2b with high stability and activity. The effect of different parameters like rhIFN-α2b final concentration, pH, rhIFN-α2b/PEG molar ratios and reaction time on the efficiency of pegylation (high percentage of monopegylated rhIFN-α2b) have been studied in small scale (100µl) pegylation reaction trials. Study of the percentages of different components of these reactions (mono, di, polypegylated rhIFN-α2b and unpegylated rhIFN-α2b) indicated that 2h is optimum time to complete the reaction. The pegylation efficiency increased at pH 8 (57.9%) by reducing the protein concentration to 1mg/ml and reducing the rhIFN-α2b/PEG ratio to 1:2. Using larger scale pegylation reaction (65% pegylation efficiency), ion exchange chromatography method has been optimized to prepare and purify the monopegylated rhIFN-α2b with high purity (96%). The prepared monopegylated rhIFN-α2b had apparent Mwt of approximately 65 kDa and high in vitro antiviral activity (2.1x10⁷ ± 0.8 x10⁷ IU/mg). Although it retained approximately 8.4 % of the antiviral activity of the unpegylated rhIFN-α2b, its activity is high compared to other pegylated rhIFN-α2 developed by using similar approach or higher molecular weight branched PEG.

Keywords: antiviral activity, rhIFN-α2b, pegylation, pegylation efficiency

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Authors: A. O. Boyo, A. T. Akinwunmi

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The effect of extracting solvent and adjustment of pHs on the stability of Terminalia catappa L. dye-sensitized solar cell was investigated. We introduced ZnO as an alternative to TiO2 in the dye sensitized solar cells (DSSCs) due to its band gap similar to TiO2, higher electron mobility, and flexible procedures of preparations. Dye-sensitized solar cells (DSSCs) based on Terminalia catappa L. was extracted in water (A), ethanol (B) and the mixture of ethanol and water in the ratio 1:1by volume (C). The best performance Solar cells sensitized was from extracts A and achieved up to Jsc 1.51 mAcm−2, Voc 0.75V, FF 0.88 and η 0.63%. We notice that as pHs decreases there is the increase in DSSC efficiency. There is Long period stability in efficiency of the cells prepared using A than in C and a fair stability in efficiency of B cell. The results obtained with extracts B and C confirmed that Ethanol with water could not be considered as a suitable solvent for the extraction of natural dye.

Keywords: zinc oxide, dye-sensitized solar cell, terminalia catappa L., TiO2

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Authors: Abdi Ismail, Zain Amarta, Riza Rifaldy Argaputra

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The Helical Turbine has the highest efficiency in comparison with the other hydrokinetic turbines. However, the potential of the Helical Turbine efficiency can be further improved so that the kinetic energy of a water current can be converted into mechanical energy as much as possible. This paper explains the effects by adding a Movable Airfoil Arm (MAA) and ducting on a Helical Turbine. The first research conducted an analysis of the efficiency comparison between a Plate Arm Helical Turbine (PAHT) versus a Movable Arm Helical Turbine Airfoil (MAAHT) at various water current velocities. The first step is manufacturing a PAHT and MAAHT. The PAHT and MAAHT has these specifications (as a fixed variable): 80 cm in diameter, a height of 88 cm, 3 blades, NACA 0018 blade profile, a 10 cm blade chord and a 60o inclination angle. The MAAHT uses a NACA 0012 airfoil arm that can move downward 20o, the PAHT uses a 5 mm plate arm. At the current velocity of 0.8, 0.85 and 0.9 m/s, the PAHT respectively generates a mechanical power of 92, 117 and 91 watts (a consecutive efficiency of 16%, 17% and 11%). At the same current velocity variation, the MAAHT respectively generates 74, 60 and 43 watts (a consecutive efficiency of 13%, 9% and 5%). Therefore, PAHT has a better performance than the MAAHT. Using analysis from CFD (Computational Fluid Dynamics), the drag force of MAA is greater than the one generated by the plate arm. By using CFD analysis, the drag force that occurs on the MAA is more dominant than the lift force, therefore the MAA can be called a drag device, whereas the lift force that occurs on the helical blade is more dominant than the drag force, therefore it can be called a lift device. Thus, the lift device cannot be combined with the drag device, because the drag device will become a hindrance to the lift device rotation. The second research conducted an analysis of the efficiency comparison between a Ducted Helical Turbine (DHT) versus a Helical Turbine (HT) through experimental studies. The first step is manufacturing the DHT and HT. The Helical turbine specifications (as a fixed variable) are: 40 cm in diameter, a height of 88 cm, 3 blades, NACA 0018 blade profile, 10 cm blade chord and a 60o inclination angle. At the current speed of 0.7, 0.8, 0.9 and 1.1 m/s, the HT respectively generates a mechanical power of 72, 85, 93 and 98 watts (a consecutive efficiency of 38%, 30%, 23% and 13%). At the same current speed variation, the DHT generates a mechanical power of 82, 98, 110 and 134 watts (a consecutive efficiency of 43%, 34%, 27% and 18%), respectively. The usage of ducting causes the water current speed around the turbine to increase.

Keywords: hydrokinetic turbine, helical turbine, movable airfoil arm, ducting

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Authors: Lopamudra D. Satpathy, Bani Chatterjee, Jitendra Mahakud

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The rapid economic growth in terms of output and investment necessitates a substantial growth of Total Factor Productivity (TFP) of firms which is an indicator of an economy’s technological change. The strong empirical relationship between financial sector development and economic growth clearly indicates that firms financing decisions do affect their levels of output via their investment decisions. Hence it establishes a linkage between the financial factors and productivity growth of the firms. To achieve the smooth and continuous economic growth over time, it is imperative to understand the financial channel that serves as one of the vital channels. The theoretical or logical argument behind this linkage is that when the internal financial capital is not sufficient enough for the investment, the firms always rely upon the external sources of finance. But due to the frictions and existence of information asymmetric behavior, it is always costlier for the firms to raise the external capital from the market, which in turn affect their investment sentiment and productivity. This kind of financial position of the firms puts heavy pressure on their productive activities. Keeping in view this theoretical background, the present study has tried to analyze the role of both external and internal financial factors (leverage, cash flow and liquidity) on the determination of total factor productivity of the firms of manufacturing industry and its sub-industries, maintaining a set of firm specific variables as control variables (size, age and disembodied technological intensity). An estimate of total factor productivity of the Indian manufacturing industry and sub-industries is computed using a semi-parametric approach, i.e., Levinsohn- Petrin method. It establishes the relationship between financial factors and productivity growth of 652 firms using a dynamic panel GMM method covering the time period between 1997-98 and 2012-13. From the econometric analyses, it has been found that the internal cash flow has a positive and significant impact on the productivity of overall manufacturing sector. The other financial factors like leverage and liquidity also play the significant role in the determination of total factor productivity of the Indian manufacturing sector. The significant role of internal cash flow on determination of firm-level productivity suggests that access to external finance is not available to Indian companies easily. Further, the negative impact of leverage on productivity could be due to the less developed bond market in India. These findings have certain implications for the policy makers to take various policy reforms to develop the external bond market and easily workout through which the financially constrained companies will be able to raise the financial capital in a cost-effective manner and would be able to influence their investments in the highly productive activities, which would help for the acceleration of economic growth.

Keywords: dynamic panel, financial factors, manufacturing sector, total factor productivity

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Authors: Fangyuan Shao, Wei Liu, Deli Gao

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With the increasing speed of oil and gas exploration, development and production at home and abroad, the demand for drilling speed up technology is becoming more and more critical to reduce the development cost. Highly efficient and personalized PDC bit is important equipment in the bottom hole assembly (BHA). Therefore, improving the rock-breaking efficiency of PDC bits will help reduce drilling time and drilling cost. Advances in PDC bit technology have resulted in a leapfrogging improvement in the rate of penetration (ROP) of PDC bits over roller cone bits in soft to medium-hard formations. Recently, with the development of PDC technology, the diameter of the PDC tooth can be further expanded. The maximum diameter of the PDC cutter used in this paper is 22 mm. According to the theoretical calculation, under the same depth of cut (DOC), the 22mm-PDC cutter increases the exposure of the cutter, and the increase of PDC cutter diameter helps to increase the cutting area of the PDC cutter. In order to evaluate the cutting performance of the 22 mm-PDC cutter and the existing commonly used cutters, the 16 mm, 19 mm and 22 mm PDC cutter was selected put on a vertical turret lathe (VTL) in the laboratory for cutting tests under different DOCs. The DOCs were 0.5mm, 1.0 mm, 1.5 mm and 2.0 mm, 2.5 mm and 3 mm, respectively. The rock sample used in the experiment was limestone. Results of laboratory tests have shown the new 22 mm-PDC cutter technology greatly improved cutting efficiency. On the one hand, as the DOC increases, the mechanical specific energy (MSE) of all cutters decreases, which means that the cutting efficiency increases. On the other hand, under the same DOC condition, the larger the cutter diameter is, the larger the working area of the cutter is, which leads to higher the cutting efficiency. In view of the high performance of the 22 mm-PDC cutters, which was applied to carry out full-scale bit field experiments. The result shows that the bit with 22mm-PDC cutters achieves a breakthrough improvement of ROP than that with conventional 16mm and 19mm cutters in offset well drilling.

Keywords: polycrystalline diamond compact, 22 mm-PDC cutters, cutting efficiency, mechanical specific energy

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Authors: Seongsoo Lee

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Motion estimation occupies the heaviest computation in HEVC (high efficiency video coding). Many fast algorithms such as TZS (test zone search) have been proposed to reduce the computation. Still the huge computation of the motion estimation is a critical issue in the implementation of HEVC video codec. In this paper, motion estimator architecture with optimized number of PEs (processing element) is presented by exploiting early termination. It also reduces hardware size by exploiting parallel processing. The presented motion estimator architecture has 8 PEs, and it can efficiently perform TZS with very high utilization of PEs.

Keywords: motion estimation, test zone search, high efficiency video coding, processing element, optimization

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Authors: Jeerasak Wisatphan, Nara Samattapapong

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This study's goals were to enhance nitroglycerin manufacturing efficiency through simulation, recover nitroglycerin from the storage facility, and enhance nitroglycerine recovery and purge systems. It was found that the problem was nitroglycerin reflux. Therefore, the researcher created three alternatives to solve the problem. The system of Nitroglycerine Recovery and Purge was then simulated using the FlexSim program, and each alternative was tested. The results demonstrate that the alternative system-led Nitroglycerine Recovery and Nitroglycerine Purge System collaborate to produce Nitroglycerine, which is more efficient than other alternatives and can reduce production time. It can also improve the recovery of nitroglycerin. It also serves as a guideline for developing a real-world system and modeling it for training staff without wasting raw chemical materials or fuel energy.

Keywords: efficiency increase, nitroglycerine recovery and purge system, production improvement, simulation

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Authors: Norashikin Ismail, Nadia Anridho

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Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

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Authors: Dimitrios Kafetzopoulos

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Nowadays, companies are more concerned with adopting their own strategies for increased efficiency and sustainability. Dynamic environments are fertile fields for developing operational changes. For this purpose, organizations need to implement an advanced management philosophy that boosts changes to companies’ operation. Changes refer to new applications of knowledge, ideas, methods, and skills that can generate unique capabilities and leverage an organization’s competitiveness. So, in order to survive and compete in the global and niche markets, companies should incorporate the adoption of operational changes into their strategy with regard to their products and their processes. Creating the appropriate culture for changes in terms of products and processes helps companies to gain a sustainable competitive advantage in the market. Thus, the purpose of this study is to investigate the role of both incremental and radical changes into operations of a company, taking into consideration not only product changes but also process changes, and continues by measuring the impact of these two types of changes on business efficiency and sustainability of Greek manufacturing companies. The above discussion leads to the following hypotheses: H1: Radical operational changes have a positive impact on firm efficiency. H2: Incremental operational changes have a positive impact on firm efficiency. H3: Radical operational changes have a positive impact on firm sustainability. H4: Incremental operational changes have a positive impact on firm sustainability. In order to achieve the objectives of the present study, a research study was carried out in Greek manufacturing firms. A total of 380 valid questionnaires were received while a seven-point Likert scale was used to measure all the questionnaire items of the constructs (radical changes, incremental changes, efficiency and sustainability). The constructs of radical and incremental operational changes, each one as one variable, has been subdivided into product and process changes. Non-response bias, common method variance, multicollinearity, multivariate normal distribution and outliers have been checked. Moreover, the unidimensionality, reliability and validity of the latent factors were assessed. Exploratory Factor Analysis and Confirmatory Factor Analysis were applied to check the factorial structure of the constructs and the factor loadings of the items. In order to test the research hypotheses, the SEM technique was applied (maximum likelihood method). The goodness of fit of the basic structural model indicates an acceptable fit of the proposed model. According to the present study findings, radical operational changes and incremental operational changes significantly influence both efficiency and sustainability of Greek manufacturing firms. However, it is in the dimension of radical operational changes, meaning those in process and product, that the most significant contributors to firm efficiency are to be found, while its influence on sustainability is low albeit statistically significant. On the contrary, incremental operational changes influence sustainability more than firms’ efficiency. From the above, it is apparent that the embodiment of the concept of the changes into the products and processes operational practices of a firm has direct and positive consequences for what it achieves from efficiency and sustainability perspective.

Keywords: incremental operational changes, radical operational changes, efficiency, sustainability

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Authors: Juan Pedro Aznar Alarcon, Josep Maria Sayeras Maspera

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Airbnb and other similar platforms are offering a near substitute to the traditional accommodation service supplied by the hotel sector. In this context, hotels can try to compete by offering higher quality and additional services, which imply the need for new investments or try to compete by reducing prices. The theoretical model presented in this paper analyzes the best response using a sequential game theory model. The main conclusion is that due to the financial constraints that small and medium hotels have these hotels have reduced prices whereas hotels that belong to international groups or have an easy access to financial resources have increased their investment to increase the quality of the service provided. To check the validity of the theoretical model financial data from Barcelona, London and Paris hotels have been used analyzing profitability, quality of the service provided, the investment propensity and the evolution of the gross profit. The model and the empirical data provide the base for some industrial policy in the hospitality industry. To address the extra cost that small hotels in Europe have to face compared by bigger firms would help to improve the level of quality provided and to some extent have positive externalities in terms of job creation and an increasing added value for the industry.

Keywords: Airbnb, profitability, hospitality industry, game theory

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Authors: Hummad Ch. Umar

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Most of the developing economies, including Pakistan, are confronted with high level of external debt which is adversely affecting their economic performance. The hypothesis of debt overhang is often used to assess the negative relationship between foreign debt and the economic growth of the indebted country. As first objective of the present study, this hypothesis is tested by using Pooled OLS (POLS), Generalized Method of Moment (GMM), Random Effect (RE), and Fixed effect (FE) techniques. As second objective, the study uses the concept of debt Laffer Curve to determine the eligibility condition of the indebted countries for the relief programs. According to this approach, countries lying on the right side of the Laffer Curve are stated to be trapped in the strong debt overhang making them unable to come out of the vicious circle of low growth and high foreign debt. The empirical analysis confirms that only two countries out of twenty two completely fulfill the conditions of being eligible for the debt relief. All other countries continue to face debt burden of different magnitudes. The study further confirms that the debt relief alone is not sufficient for overcoming the debt problem. Instead, sound economic policies and conducive investment decisions are required to lay the foundations of long-term growth and development. Debt relief should be the option for only those countries that meet a minimum measurable criterion of good governance, economic freedom, and consistency of policies.

Keywords: external debt, debt burden, debt overhang, debt laffer curve, debt relief, investment decisions

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Authors: Syed Sadique Anwer Askari, Mukul Kumar Das

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Zinc Oxide (ZnO) solar cells have drawn great attention due to the enhanced efficiency and low-cost fabrication process. In this study, ZnO thin film is used as the active layer, hole blocking layer, antireflection coating (ARC) as well as transparent conductive oxide. To improve the conductivity of ZnO, top layer of ZnO is doped with aluminum, for top contact. Intrinsic carrier concentration of silicon substrate plays an important role in enhancing the power conversion efficiency (PCE) of ZnO/Si solar cell. With the increase of intrinsic carrier concentration PCE decreased due to increase in dark current in solar cell. At 80nm ZnO and 160µm Silicon substrate thickness, power conversion efficiency of 26.45% and 21.64% is achieved with intrinsic carrier concentration of 1x109/cm3, 1.4x1010/cm3 respectively.

Keywords: hetero-junction solar cell, solar cell, substrate intrinsic carrier concentration, ZnO/Si

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Authors: A. Threepanich, S. Youngme, P. Praipipat

Abstract:

Although ground egg shells had the ability to eliminate lead in water, their efficiency may decrease in a case of contaminating of other cations such as Na⁺, Ca²⁺ in the water. The development of ground egg shells may solve this problem in which metal oxides are a good choice for this case since they have the ability to remove any heavy metals including lead in the water. Therefore, this study attempts to use this advantage for improving ground egg shells for the specific lead removal efficiency in the water. X-ray fluorescence (XRF) technique was used for the chemical element contents analysis of ground egg shells (GES) and ground egg shells with metal oxide (GESM), and Transmission electron microscope (TEM) technique was used to examine the material sizes. The batch test studies were designed to investigate the factor effects on dose (5, 10, 15 grams), pH (5, 7, 9), and settling time (1, 3, 5 hours) for the lead removal efficiency in the water. The XRF analysis results showed GES contained calcium (Ca) 91.41% and Silicon (Si) 4.03% and GESM contained calcium (Ca) 91.41%, Silicon (Si) 4.03%, and Iron (Fe) 3.05%. TEM results confirmed the sizes of GES and GESM in the range of 1-20 nm. The batch test studies showed the best optimum conditions for the lead removal in the water of GES and GESM in dose, pH, and settling time were 10 grams, pH 9, 5 hours and 5 grams, pH 9, 3 hours, respectively. The competing ions (Na⁺ and Ca²⁺) study reported GESM had the higher % lead removal efficiency than GES at 90% and 60%, respectively. Therefore, this result can confirm that adding of metal oxide to ground egg shells helps to improve the lead removal efficiency in the water.

Keywords: nano material, ground egg shells, metal oxide, lead

Procedia PDF Downloads 117