Search results for: theoretical%20calculations

Authors: A. Larrousi, M. Elkeurti, K. Amara, M. Zemouli, L. H. Coudert, I. R. Medvedev, F. C. De Lucia, Atsuko Maeda, R. W. C. McKellar, D. Appadoo

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Experimental and theoretical investigations of the microwave and far infrared spectra of CH3COD are reported. Two hundred twelve lines were identified in the far infrared spectrum recorded using the Canadian synchrotron radiation light source. Two thousand one hundred and sixty-eight lines in vt=0,1 and 216 in vt=2 have been measured in the microwave spectrum obtained using the fast scan submillimeter spectroscopic technique. A global analysis of the new data and of already available microwave lines has been carried out and yielded values for rotation–torsion parameters. The unitless weighted standard deviation of the fit is 1.6. 46 parameters and 216 lines were identified.

Keywords: CH3COD, torsion, the microwave spectra, far infrared spectra high resolution

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Authors: F. Boukli Hacene, W. Soufi, S. Ghalem

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Glaucoma disease is a progressive degenerative optic neuropathy, with irreversible visual field deficits and high eye pressure being one of the risk factors. Sulfonamides are carbonic anhydrase-II inhibitors that aim to decrease the secretion of aqueous humor by direct inhibition of this enzyme at the level of the ciliary processes. These drugs present undesirable effects that are difficult to accept by the patient. In our study, we are interested in the inhibition of carbonic anhydrase-II by different natural ligands (curcumin analogues) using molecular modeling methods using molecular operating environment (MOE) software to predict their interaction with this enzyme.

Keywords: carbonic anhydrase-II, curcumin analogues, drug research, molecular modeling

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Authors: Ashot Navasardian, Mariam Vardanian, Vladik Vardanian

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The photovoltaic and the semiconductor industries are in growth and it is necessary to supply a large amount of silicon to maintain this growth. Since silicon is still the best material for the manufacturing of solar cells and semiconductor components so the pure silicon like solar grade and semiconductor grade materials are demanded. There are two main routes for silicon production: metallurgical and chemical. In this article, we reviewed the electrotecnological installations and systems for semiconductor manufacturing. The main task is to design the installation which can produce SOG Silicon from river sand by one work unit.

Keywords: metallurgical grade silicon, solar grade silicon, impurity, refining, plasma

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Authors: Olga Shvetsova

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The research paper contains the different issues of competence management in innovation companies. The theoretical bases of human resources management and practical issues of innovative enterprises’ competitiveness are considered. The research is focused on the modern innovative enterprise management problems; it focuses on the effective management of the personnel of innovative enterprises on the basis of competence approach. The concept of core competence approach is discussed. The point of view, that the key competences of the company create the competitive advantages, support strategy development and protect business from external negative factors is considered. The used methodology is background research.

Keywords: competence model, competitiveness, innovation management, implementation

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Authors: C. S. Bianca Sabrina, N. Egidio Raimundo, L. Alexandre Baratella, C. H. João Paulo

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This paper aims to present a study, with the theoretical concepts and applications of the Quadcopter, using the MATLAB simulator. In order to use this tool, the study of the stability of the drone through a Proportional - Integral - Derivative (PID) controller will be presented. After the stability study, some tests are done on the simulator and its results will be presented. From the mathematical model, it is possible to find the Newton-Euler angles, so that it is possible to stabilize the quadcopter in a certain position in the air, starting from the ground. In order to understand the impact of the controllers gain values on the stabilization of the Euler-Newton angles, three conditions will be tested with different controller gain values.

Keywords: controllers, drones, quadcopter, stability

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Authors: S. Louhibi-Fasla, H. Achour, B. Amrani

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The purpose of this work is to provide some additional information to the existing data on the physical properties of AlBi with state-of-the-art first-principles method of the full potential linear augmented plane wave (FPLAPW). Additionally to the structural properties, the electronic properties have also been investigated. The dependence of the volume, the bulk modulus, the variation of the thermal expansion α, as well as the Debye temperature are successfully obtained in the whole range from 0 to 30 GPa and temperature range from 0 to 1200 K. The latter are the basis of solid-state science and industrial applications and their study is of importance to extend our knowledge on their specific behaviour when undergoing severe constraints of high pressure and high temperature environments.

Keywords: AlBi, FP-LAPW, structural properties, electronic properties

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Authors: Parshanth Maroju, Ramandeep Behl, Sandile S. Motsa

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In this study, we proposed a simple and interesting family of fourth-order multi-point methods without memory for obtaining simple roots. This family requires only three functional evaluations (viz. two of functions f(xn), f(yn) and third one of its first-order derivative f'(xn)) per iteration. Moreover, the accuracy and validity of new schemes is tested by a number of numerical examples are also proposed to illustrate their accuracy by comparing them with the new existing optimal fourth-order methods available in the literature. It is found that they are very useful in high precision computations. Further, the dynamic study of these methods also supports the theoretical aspect.

Keywords: basins of attraction, nonlinear equations, simple roots, Newton's method

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Authors: Saurabh Agarwal

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This paper attempts to formalise the effect of demographic variables like marital status, gender, occupation and age on the source of investment advice which, in turn, affect the herd behaviour of investors and probability of investment in near future. Further, postulations have been made for most preferred investment option and purpose of saving and source of investment. Impact of theoretical analysis on choice among investment alternatives has also been investigated. The analysis contributes to understanding the different investment choices made by households in India. The insights offered in the paper indirectly contribute in uncovering the various unexplained asset pricing puzzles.

Keywords: portfolio choice, investment decisions, investor’s behaviour, Indian securities market

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Authors: Pablo M. S. Vallejos

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The article aims to analyze the autobiographical practices of users on Instagram, observing the instrumentalization of image resources in the construction of visual narratives that make up that archive and digital diary. Through bibliographical review, discourse exploration and case studies, the research also aims to present a new theoretical perception about everyday records - edited with a collage of filters and aesthetic tools - that permeate that social network, understanding it as a platform fictionalizing and an expansion of life. In this way, therefore, the work reflects on possible futures in the elaboration of representations and identities in the context of digital spaces in the 21st century.

Keywords: visual culture, social media, autobiography, image

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Authors: Carlos Tadeu Santana Tatum, Suzana Leitão Russo

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This paper aims to show comparative studies of different types of innovation applied to lighting, along with a theoretical review by means of a bibliographic method. We demonstrate that it is possible to understand the impacts of industries with a conventional innovation that uses natural resources to manufacture lights, and the opposite, when a frugal innovation solves the problems of a society at the bottom of the pyramid, helping people without access to electricity to get home lighting. The frugal innovation is simply the use of recycled PET bottles. We achieved the objective of our study by gathering data from environment, electrical engineering, international rules, and innovation, which gave us the best results. With all these variables, we can characterize this work as an interdisciplinary study.

Keywords: frugal, innovation, PET bottle, light

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Authors: Alejandra Martin-Dominguez, Javier Canto-Rios, Velitchko Tzatchkov

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Electrocoagulation is a water treatment technology that consists of generating coagulant species in situ by electrolytic oxidation of sacrificial anode materials triggered by electric current. It removes suspended solids, heavy metals, emulsified oils, bacteria, colloidal solids and particles, soluble inorganic pollutants and other contaminants from water, offering an alternative to the use of metal salts or polymers and polyelectrolyte addition for breaking stable emulsions and suspensions. The method essentially consists of passing the water being treated through pairs of consumable conductive metal plates in parallel, which act as monopolar electrodes, commonly known as ‘sacrificial electrodes’. Physicochemical, electrochemical and hydraulic processes are involved in the efficiency of this type of treatment. While the physicochemical and electrochemical aspects of the technology have been extensively studied, little is known about the influence of the hydraulics. However, the hydraulic process is fundamental for the reactions that take place at the electrode boundary layers and for the coagulant mixing. Electrocoagulation reactors can be open (with free water surface) and closed (pressurized). Independently of the type of rector, hydraulic head loss is an important factor for its design. The present work focuses on the study of the total hydraulic head loss and flow velocity and pressure distribution in electrocoagulation reactors with single or multiple concentric annular cross sections. An analysis of the head loss produced by hydraulic wall shear friction and accessories (minor head losses) is presented, and compared to the head loss measured on a semi-pilot scale laboratory model for different flow rates through the reactor. The tests included laminar, transitional and turbulent flow. The observed head loss was compared also to the head loss predicted by several known conceptual theoretical and empirical equations, specific for flow in concentric annular pipes. Four single concentric annular cross section and one multiple concentric annular cross section reactor configuration were studied. The theoretical head loss resulted higher than the observed in the laboratory model in some of the tests, and lower in others of them, depending also on the assumed value for the wall roughness. Most of the theoretical models assume that the fluid elements in all annular sections have the same velocity, and that flow is steady, uniform and one-dimensional, with the same pressure and velocity profiles in all reactor sections. To check the validity of such assumptions, a computational fluid dynamics (CFD) model of the concentric annular pipe reactor was implemented using the ANSYS Fluent software, demonstrating that pressure and flow velocity distribution inside the reactor actually is not uniform. Based on the analysis, the equations that predict better the head loss in single and multiple annular sections were obtained. Other factors that may impact the head loss, such as the generation of coagulants and gases during the electrochemical reaction, the accumulation of hydroxides inside the reactor, and the change of the electrode material with time, are also discussed. The results can be used as tools for design and scale-up of electrocoagulation reactors, to be integrated into new or existing water treatment plants.

Keywords: electrocoagulation reactors, hydraulic head loss, concentric annular pipes, computational fluid dynamics model

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Authors: A. Kianifar, M. Afzali, I. Pishbin

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In this paper, design details, theoretical analysis and thermal performance analysis of a solar energy concentrator suited to combined heat and thermoelectric power generation are presented. The thermoelectric device is attached to the absorber plate to convert concentrated solar energy directly into electric energy at the focus of the concentrator. A cooling channel (water cooled heat sink) is fitted to the cold side of the thermoelectric device to remove the waste heat and maintain a high temperature gradient across the device to improve conversion efficiency.

Keywords: concentrator thermoelectric generator, CTEG, solar energy, thermoelectric cells

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Authors: Feddaoui Amina

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Through this study we will try to shed light on the theoretical framework proposed for understanding creative accounting as a financial numbers game and one of the most important techniques of accounts manipulation, its main actors and its practices. We will discover the role of the modified Jones model (1995) in detecting creative accounting practices using discretionary accruals. Finally we will try to confirm the importance and the need to address this type of practices using corporate governance as a main control system and an important defense line to reduce these dangerous accounts manipulation.

Keywords: financial numbers game, creative accounting, modified Jones model, accounts manipulation

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Authors: Shengjun Zhang, Xu Cheng, Feng Shen

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The passive containment cooling system (PCCS) is widely used in the advanced nuclear reactor in case of the loss of coolant accident (LOCA) and the main steam line break accident (MSLB). The internal heat exchanger is one of the most important equipment in the PCCS and its heat transfer characteristic determines the performance of the system. In this investigation, a theoretical model is presented for predicting the heat and mass transfer which accompanies condensation. The conduction through the liquid condensate is considered and the interface temperature is defined by iteration. The parameter in the correlation to describe the suction effect should be further determined through experimental data.

Keywords: non-condensable gas, condensation, heat transfer coefficient, heat and mass transfer analogy

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Authors: N. I. Kargin, G. K. Safaraliev, A. S. Gusev, A. O. Sultanov, N. V. Siglovaya, S. M. Ryndya, A. A. Timofeev

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In this paper, an experimental and theoretical study of the processes of mesoporous silicon carbonization during the formation of buffer layers for the subsequent epitaxy of 3C-SiC films and related wide-band-gap semiconductors is performed. Experimental samples were obtained by the method of chemical vapor deposition and investigated by scanning electron microscopy. Analytic expressions were obtained for the effective diffusion factor and carbon atoms diffusion length in a porous system. The proposed model takes into account the processes of Knudsen diffusion, coagulation and overgrowing of pores during the formation of a silicon carbide layer.

Keywords: silicon carbide, porous silicon, carbonization, electrochemical etching, diffusion

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Authors: Kaesha M. Freyaldenhoven

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Chicago is a city in the United States whose cultural identity is largely shaped by public art pieces. Quintessential public works created by internationally renown artists – such as Anish Kapoor’s Cloud Gate in Millennium Park and 'The Picasso' in Daley Plaza – have historically contributed to developing a shared sense of community. In 2017, the city implemented a policy titled 50x50 Neighborhood Arts Project under the Chicago Public Art Plan. The policy promotes investments in contemporary public art to elevate neighborhood cultural assets and create a sense of place. Exclusively community-based artists were commissioned to accomplish the mission of the policy. Administrators felt only local artists would be capable of capturing the true essence of a neighborhood through art. This paper discusses the relationship between the public art and the culture of its respective neighborhood through close examination of aesthetic formal properties and social significance. Research compares the role of international artists with the role of local artists in cultivating the identity of a city through site-specific artworks in Chicago. Methodology unites theoretical research on understanding art and its function in the public space with empirical research on Chicago-based works. Theoretical frameworks provide an art historical foundation to explore the manner in which physical properties convey meaning through the work itself and its placement in an urban setting. Empirical research that examines policy documentation and press announcements released by the Department of Cultural Affairs and Special Events investigates project selection processes pertaining to the artists and neighborhoods. Ethnographies and interviews of individuals from diverse social segments in contemporary Chicago society measure impacts of the works on respective populations. Findings demonstrate works created by local artists activate neighborhoods and inculcate a sense of pride among community residents. Works created by international artists garner widespread media attention that frames the city’s cultural identity across temporal and geographic zones. This research can be utilized to inform future cultural policies pertaining to the commission of public art.

Keywords: Chicago, cultural policy, public art, urban art

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Authors: Salomão Manuel Francisco, Manuel António Salgueiro Da Silva, Bento Filipe Barreiras Pinto Cavadas, Teresa Monteiro Seixas

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In bachelor's degrees in Physics Education framework in Angola, and to a certain extent, within the community of Portuguese language countries (CPLP), teaching methodologies rely heavily on theoretical memorization and mathematical demonstrations. This approach often discourages students, particularly the female population, as the reliance on theoretical mathematical demonstrations generates the perception of Physics as an arduous, challenging discipline. To address this challenge and recognize the value of practical application as an evaluative criterion of material truth, we propose a practical activity in Environmental Physics that will be shared with Angolan higher education teachers, who will receive full scaffolding and support from the authors. These teachers, adopting and developing similar activities in a classroom setting, will contribute to the environmental education framework as well. Additionally, this work aligns with different goals of UNESCO's 2030 agenda, namely, specifically, goals 4, 5, 7, 11, 13, and 17. The experimental activity developed in this work is centered around the demonstration of the photovoltaic effect and its application for renewable energy production. The first objective of the activity is to study the variation of electrical power supplied by a photovoltaic system (PV) to an electrical circuit as the angle of light incidence changes. Students can observe that the power supplied to the circuit is greater when light rays fall perpendicularly on the PV. However, as the angle of incidence increases, resulting in a larger area covered by the light rays, the power supplied to the circuit decreases due to lower irradiance. The second objective is to demonstrate that the power output can be maximized by adjusting the circuit load resistance at each irradiance value. In these two parts of the activity, students can analyze experimental data taking into account the irradiance law and the equivalent circuit description of a PV cell. Through detailed data analysis, students are also expected to assess the effects of temperature on PV efficiency degradation and the efficiency enhancement provided by light concentration mechanisms. As a third objective, students can explore how the color of incident light affects the PV output power, considering the quantum nature of light and its interaction with the PV system.

Keywords: experiments, irradiation law, physic teaching, photovoltaic effect

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Authors: Ángel O. Aldape, José M. Bustos, José G. Guízar

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Building companies providing public housing in Mexico, such as INFONAVIT, Casas GEO, Casas ARA, among others, provide low-interest home loans for thousands of Mexican families and individuals to buy a home. However, once this goal is achieved, these companies are not responsible for the care and maintenance of green areas and waste collection services because, technically, it is the local municipalities’ responsibility to provide these services to the community. However, this does not always occur with local municipalities. To study this problem, the San Buenaventura public housing complex was selected. This housing complex is located in the municipality of Ixtapaluca, State of Mexico (Estado de Mexico), Mexico. To our best knowledge, there are currently no formal studies about San Buenaventura that can offer effective options and/or better ways of sorting and disposing households’ wastes, as well as improving local green areas (community gardens and parks). Only a few web-blogs and periodical reports have addressed these serious problems that directly affect the social and psychological well-being of residents. The main goal of this research project aims to improve our understanding towards the existing ontological elements that emerge from residents’ discourses (in the form of informal talks and gossip) and discover the socio-physical elements that they use to assign moral positions onto others or onto themselves. The theoretical framework used in this study is based on two constructionist theories: positioning theory and site ontology. The first theory offered the opportunity to explore the rights, duties, and obligations assigned to a social role (or moral position) of the participants. The second theory provided a constructionist philosophical base that includes various socio-physical elements that are considered to assign personal or community meanings to particular contexts. Both theories contributed to defining personal dispositions and/or attitudes to carry out concrete social action or practice. The theoretical framework was guided by a relativistic ontology that allowed the researcher to better interpret the reality of the participants of this study. A descriptive-interpretative methodology was used, and two qualitative methods were arranged based on the theoretical framework proposed as follows: a semi-structured focus group interview, and direct observations. The semi-structured focus group was carried out with four residents of San Buenaventura and covert observations of public spaces and houses were carried out. These were analysed and interpreted by the researcher and assisted by NVivo software. The results suggest that the participants assigned moral traits of responsibility to other residents regarding the problem of the neglect of the green areas and waste pollution. The results suggest that all participants agreed to assign moral traits to other residents making them liable for the environmental degradation and the decay of green areas. They neither assigned any moral duty nor responsible moral traits onto themselves towards environmental protection or destruction. Overall, the participants in this study pointed out that external ontological elements such as the local government, infrastructure or cleaning services were not main cause of these environmental problems but rather the general lack of moral duty and disposition of other residents.

Keywords: conversation, environment, housing, moral, ontology, position, public, site, talks

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Authors: Rim Zgueb, Noureddine Yacoubi

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The objective of this study was to investigate the thermal property of magnesium oxychloride cement (MOC) using glass powder as a substitute. Glass powder by proportion 0%, 5%, 10%, 15% and 20% of cement’s weight was added to specimens. At the end of a drying time of 28 days, thermal properties, compressive strength and bulk density of samples were determined. Thermal property is measured by Photothermal Deflection Technique by comparing the experimental of normalized amplitude and the phase curves of the photothermal signal to the corresponding theoretical ones. The findings indicate that incorporation of glass powder decreases the thermal properties of MOC.

Keywords: magnesium oxychloride cement (MOC), phototharmal deflection technique, thermal properties, Ddensity

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Authors: Shoji Katagiri, Hugang Han

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This paper clarifies the role of ICT capital in Economic Growth. Albeit ICT remarkably contributes to economic growth, there are few studies on ICT capital in ICT sector from theoretical point of view. In this paper, production function of ICT which is used as input of intermediate good in final good and ICT sectors is incorporated into our model. In this setting, we analyze the role of ICT on balance growth path and show the possibility of general equilibrium solutions for this model. Through the simulation of the equilibrium solutions, we find that when ICT impacts on economy and economic growth increases, it is necessary that increases of efficiency at ICT sector and of accumulation of non-ICT and ICT capitals occur simultaneously.

Keywords: endogenous economic growth, ICT, intensity, capital accumulation

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Authors: Sandoval H. Leyla Angélica, Casani Fernando

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The objective of this study is to analyse how enterprises in developed countries use cooperation agreements to expand into developing countries. Starting from the literature review, seven theoretical prepositions were derived. The qualitative methodology used includes case study, through interviews conducted with eight enterprises from Spain and Colombia. Results show that the cooperation agreements have provided a quick and solid connection that facilitates internationalization, bearing in mind aspects such as: strategic factors, partners, network, technology, experience, communication methods, social benefit and the connection between these aspects and allied enterprises.

Keywords: internationalisation, firms, cooperation agreement, case study, Spain, Colombia

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Authors: Krisztina Szegedi, Gyula Fülöp, Ádám Bereczk

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The shared goal of social entrepreneurship, corporate social responsibility and social innovation is the advancement of society. The business model of social enterprises is characterized by unique strategies based on the competencies of the entrepreneurs, and is not aimed primarily at the maximization of profits, but rather at carrying out goals for the benefit of society. Corporate social responsibility refers to the active behavior of a company, by which it can create new solutions to meet the needs of society, either on its own or in cooperation with other social stakeholders. The objectives of this article are to define concepts, describe and integrate relevant theoretical models, develop a model and introduce some examples of international practice that can inspire initiatives for social development.

Keywords: corporate social responsibility, CSR, social innovation, social entrepreneurship

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Authors: A. Cherifi, B. S. Bouazza, A. O. Dahman, B. Yagoubi

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Transmission over Optical channels will introduce inter-symbol interference (ISI) as well as inter-channel (or inter-carrier) interference (ICI). To decrease the effects of ICI, this paper proposes equalizer for the Optical OFDM system based on the fractional Fourier transform (FrFFT). In this FrFT-OFDM system, traditional Fourier transform is replaced by fractional Fourier transform to modulate and demodulate the data symbols. The equalizer proposed consists of sampling the received signal in the different time per time symbol. Theoretical analysis and numerical simulation are discussed.

Keywords: OFDM, fractional fourier transform, internet and information technology

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Authors: B. Bouadjemi, S. Bentata, W. Benstaali, A. Abbad, T. Lantri, A. Zitouni

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The purpose of this study was to investigate the structural,electronic and magnetic properties of the cubic praseodymium oxides perovskites PrMnO3. It includes our calculations based on the use of the density functional theory (DFT) with both generalized gradient approximation (GGA) and GGA+U approaches, The spin polarized electronic band structures and densities of states as well as the integer value of the magnetic moment of the unit cell (6 μB) illustrate that PrMnO3 is half-metallic ferromagnetic. The study prove that the compound is half-metallic ferromagnetic however the results obtained, make the cubic PrMnO3 a promising candidate for application in spintronics.

Keywords: cubic, DFT, electronic properties, magnetic moment, spintronics

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Authors: Khadijah B. Alziyadi, Khawlh A. Alzubaidi, Amor M. Alsayari

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Recently, GaMnAs diluted magnetic semiconductors(DMSs) have received considerable attention because they combine semiconductor and magnetic properties. GaMnAs has been used as a model DMS and as a test bed for many concepts and functionalities of spintronic devices. In this paper, a theoretical study on the band structure ofGaMnAswill be presented. The model that we used in this study is the 8-band k.p methodwherespin-orbit interaction, spin splitting, and strain are considered. The band structure of GaMnAs will be calculated in different directions in the reciprocal space. The effect of manganese content on the GaMnAs band structure will be discussed. Also, the influence of strain, which varied continuously from tensile to compressive, on the different bands will be studied.

Keywords: band structure, diluted magnetic semiconductor, k.p method, strain

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Authors: Michaela Vašková

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The paper is focused on the application of the security audit method on the selected objects of the critical infrastructure. The emphasis is put on security audit method to find gaps in the critical infrastructure security. The theoretical part describes objects of the critical infrastructure. The practical part describes using the security audit method. The main emphasis was put on the protection of the critical infrastructure in the Czech Republic.

Keywords: crisis management, critical infrastructure, object of critical infrastructure, security audit, extraordinary event

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Authors: Amália S. Botter Fabbri

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This paper proposes the analysis of the Strategic Environmental Assessment (SEA) in relation to the three pillars of the sustainable development, highlighting its particular importance to combat climate change. Theoretical and practical examples from Europe show how SEA has been implemented under the SEA Directive in the recent years, while the Brazilian case study shows a situation in which no regulation on SEA was implemented, despite the strong demand for it, as revealed by past experiences and future planning needs. In the end, some aspects to the formulation of a SEA Act are suggested, in an attempt to contribute to a better Brazilian environmental governance in relation to the future plans, programmes and policies required to the reduction of greenhouse gases emissions.

Keywords: Brazil, climate change, Europe, strategic environmental assessment

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Authors: F. Boudet, V. Galano, D. Gmira, L. Munoz, A. Reina

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Commodities pricing needs a specific approach as they are often linked to each other and so are expectedly doing their prices. They are called co-integrated when at least one stationary linear combination exists between them. Though widespread in economic literature, and even if many equilibrium relations and co-movements exist in the economy, this principle of co-movement is not developed in derivatives field. The present study focuses on the following problem: How can the price of a forward agreement on a commodity be simulated, when it is co-integrated with other ones? Theoretical analysis is developed from Gibson-Schwartz model and an analytical solution is given for short maturities contracts and under risk-neutral conditions. The application has been made to crude oil and heating oil energy commodities and result confirms the applicability of proposed method.

Keywords: co-integration, commodities, forward pricing, Gibson-Schwartz

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Authors: Muhammad Haris Aziz, Shoaib Sarfraz, Chanchal Saha

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The basic functions of a university are research and education. Research develops theories and education provides the link between the theory and the practical. Being an applied science, the link between theory and practice needs to be strong in engineering disciplines. But there remains a gap between industry and academy due lack of understanding and awareness from both sides. This gap is been shorten with an industrial engineering graduate class composed of a mix of students from industrial background and from theoretical background. Results are four industrial case studies which are the outcome of group projects in a course on operations research.

Keywords: industrial-academia linkage, operations research, industrial engineering, engineering education.

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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