Search results for: film market

Authors: Mikako Nobuhara

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This study explores the effective methods of nurturing elementary students’ cross-cultural understanding. The delivery lecture was conducted in a private elementary school class for understanding cross-cultural differences through the film E.T. (1982). Interviews of care supporters and students were conducted, as well as student discussions were held after the class. The results were carefully observed and analyzed. Suitable findings were obtained, for instance, students’ listening skills improved; further, they deeply thought about the main character’s feelings after watching the movie. Moreover, their interest in studying English as a foreign language increased. In conclusion, more classes where students can express their opinions in front of the class need to be offered; this would enable the students to nurture their critical thinking abilities and build a sense of accomplishment when they are in elementary school. Utilizing films is one of the best ways to provide students good opportunities to engage in discussions on a specific theme. This is particularly true for elementary school students.

Keywords: cross-cultural understanding, English education, elementary schools, films

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Authors: S. B. Bansode, V. G. Wagh, R. S. Kapadnis, S. S. Kale, M. Pathan Habib

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Indium sulfide films have been deposited using chemical bath deposition onto glass and indium tin oxide coated glass substrates. The influences of different deposition parameters viz. substrate and pH have been studied. The films were characterized by different techniques with respect to their crystal structure, surface morphology and compositional property by means of X-ray diffraction, scanning electron microscopy, Energy dispersive spectroscopy and optical absorption. X-ray diffraction studies revealed that amorphous nature of the films. The scanning electron microscopy of as deposited indium sulfide film on ITO coated glass substrate shows random orientation of grains where as those on glass substrates show dumbbell shape. Optical absorption study revealed that band gap varies from 2.29 to 2.79 eV for the deposited film.

Keywords: chemical bath deposition, optical properties, structural property, Indium sulfide

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Authors: Azaz Zaman, Mirazur Rahman

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Capital market is a crucial financial market place where companies and the government can raise long-term funds and, at the same time, investors get the opportunity to invest in the listed companies. Capital markets play a vital role not only in shifting the funds from surplus entity to deficit for investment, but also in the overall economic development of any developing country like Bangladesh. Being the first and biggest capital market of Bangladesh, Dhaka Stock Exchange (DSE) is the prime bourse of the country. The differences in the investment preference— among three broad categories of investors in DSE including individual investors, institutional investors, and government— are easily observed. Authors of this article have used five categories of investors such as sponsors or directors of the company, institutional investors, foreign investors, government, and the general public in order to present a comparative analysis of their investment patterns. Obtaining data on the percentage of investment by these five types of investors in different sectors from the DSE website, this study aims to analyze the sector-wise investment preference of these investors using August 2018 data. The study has found that the sponsors or directors of the company have the highest percentage of investment in the textile industry which is close to 16%. The Bangladesh government, as an investor, has the highest percentage of investment in the fuel & power sector, approximately 32%. It has also found that the mutual funds' sector is mostly financed by institutional investors, nearly 28%. Foreign investors have their most investments in the banking sector, which is close to 22%. It has also revealed that the textile sector is mostly financed by the general public, close to 17%. Nevertheless, general public, surprisingly, has the lowest percentage of investment in the telecommunication sector, which is 0.10%.

Keywords: stock market investment, Dhaka stock exchange, capital market, Bangladesh

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with finding and describing of the effective marketing communication forms relating to the segment 50+ in the financial market in the Czech Republic. The segment 50+ can be seen as a great marketing potential in the future but unfortunately the Czech financial institutions haven´t still reacted enough to this fact and they haven´t prepared appropriate marketing programs for this customers´ segment. Demographic aging is a fundamental characteristic of the current European population evolution but the perspective of further population aging is more noticeable in the Czech Republic. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of marketing communication in the financial market, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing communication approach to selected sub-segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: population aging in the Czech Republic, segment 50+, financial services, marketing communication, marketing research, marketing communication approach

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Authors: A. Kouloumpis, P. Zygouri, G. Potsi, K. Spyrou, D. Gournis

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Much of the research effort on graphene focuses on its use as building block for the development of new hybrid nanostructures with well-defined dimensions and behavior suitable for applications among else in gas storage, heterogeneous catalysis, gas/liquid separations, nanosensing and biology. Towards this aim, here we describe a new bottom-up approach, which combines the self-assembly with the Langmuir Schaefer technique, for the production of fullerene-intercalated graphene hybrid materials. This new method uses graphene nanosheets as a template for the grafting of various fullerene C60 molecules (pure C60, bromo-fullerenes, C60Br24, and fullerols, C60(OH)24) in a bi-dimensional array, and allows for perfect layer-by-layer growth with control at the molecular level. Our film preparation approach involves a bottom-up layer-by-layer process that includes the formation of a hybrid organo-graphene Langmuir film hosting fullerene molecules within its interlayer spacing. A dilute water solution of chemically oxidized graphene (GO) was used as subphase on the Langmuir-Blodgett deposition system while an appropriate amino surfactant (that binds covalently with the GO) was applied for the formation of hybridized organo-GO. After the horizontal lift of a hydrophobic substrate, a surface modification of the GO platelets was performed by bringing the surface of the transferred Langmuir film in contact with a second amino surfactant solution (capable to interact strongly with the fullerene derivatives). In the final step, the hybrid organo-graphene film was lowered in the solution of the appropriate fullerene derivative. Multilayer films were constructed by repeating this procedure. Hybrid fullerene-based thin films deposited on various hydrophobic substrates were characterized by X-ray diffraction (XRD) and X-ray reflectivity (XRR), FTIR, and Raman spectroscopies, Atomic Force Microscopy, and optical measurements. Acknowledgments. This research has been co‐financed by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework (NSRF)‐Research Funding Program: THALES. Investing in knowledge society through the European Social Fund (no. 377285).

Keywords: hybrids, graphene oxide, fullerenes, langmuir-blodgett, intercalated structures

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Authors: Junze Li, M. Li

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Laser diodes fabricated from the III-nitride material system are emerging solutions for the next generation telecommunication systems and optical clocks based on Ca at 397nm, Rb at 420.2nm and Yb at 398.9nm combined 556 nm. Most of the applications require single longitudinal optical mode lasers, with very narrow linewidth and compact size, such as communication systems and laser cooling. In this case, the GaN based distributed feedback (DFB) laser diode is one of the most effective candidates with gratings are known to operate with narrow spectra as well as high power and efficiency. Given the wavelength range, the period of the first-order diffraction grating is under 100 nm, and the realization of such gratings is technically difficult due to the narrow line width and the high quality nitride overgrowth based on the Bragg grating. Some groups have reported GaN DFB lasers with high order distributed feedback surface gratings, which avoids the overgrowth. However, generally the strength of coupling is lower than that with Bragg grating embedded into the waveguide within the GaN laser structure by two-step-epitaxy. Therefore, the overgrowth on the grating technology need to be studied and optimized. Here we propose to fabricate the fine step shape structure of first-order grating by the nanoimprint combined inductively coupled plasma (ICP) dry etching, then carry out overgrowth high quality AlGaN film by metalorganic chemical vapor deposition (MOCVD). Then a series of gratings with different period, depths and duty ratios are designed and fabricated to study the influence of grating structure to the nano-heteroepitaxy. Moreover, we observe the nucleation and growth process by step-by-step growth to study the growth mode for nitride overgrowth on grating, under the condition that the grating period is larger than the mental migration length on the surface. The AFM images demonstrate that a smooth surface of AlGaN film is achieved with an average roughness of 0.20 nm over 3 × 3 μm2. The full width at half maximums (FWHMs) of the (002) reflections in the XRD rocking curves are 278 arcsec for the AlGaN film, and the component of the Al within the film is 8% according to the XRD mapping measurement, which is in accordance with design values. By observing the samples with growth time changing from 200s, 400s to 600s, the growth model is summarized as the follow steps: initially, the nucleation is evenly distributed on the grating structure, as the migration length of Al atoms is low; then, AlGaN growth alone with the grating top surface; finally, the AlGaN film formed by lateral growth. This work contributed to carrying out GaN DFB laser by fabricating grating and overgrowth on the nano-grating patterned substrate by wafer scale, moreover, growth dynamics had been analyzed as well.

Keywords: DFB laser, MOCVD, nanoepitaxy, III-niitride

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Authors: Andrey Cherdantsev, Mikhail Cherdantsev, Sergey Isaenkov, Dmitriy Markovich

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In annular gas-liquid flow, liquid flows as a film along pipe walls sheared by high-velocity gas stream. Film surface is covered by large-scale disturbance waves which affect pressure drop and heat transfer in the system and are necessary for entrainment of liquid droplets from film surface into the core of gas stream. Disturbance waves are a highly complex and their properties are affected by numerous parameters. One of such aspects is flow development, i.e., change of flow properties with the distance from the inlet. In the present work, this question is studied using brightness-based laser-induced fluorescence (BBLIF) technique. This method enables one to perform simultaneous measurements of local film thickness in large number of points with high sampling frequency. In the present experiments first 50 cm of upward and downward annular flow in a vertical pipe of 11.7 mm i.d. is studied with temporal resolution of 10 kHz and spatial resolution of 0.5 mm. Thus, spatiotemporal evolution of film surface can be investigated, including scenarios of formation, acceleration and coalescence of disturbance waves. The behaviour of disturbance waves' velocity depending on phases flow rates and downstream distance was investigated. Besides measuring the waves properties, the goal of the work was to investigate the interrelation between disturbance waves properties and integral characteristics of the flow such as interfacial shear stress and flow rate of dispersed phase. In particular, it was shown that the initial acceleration of disturbance waves, defined by the value of shear stress, linearly decays with downstream distance. This lack of acceleration which may even lead to deceleration is related to liquid entrainment. Flow rate of disperse phase linearly grows with downstream distance. During entrainment events, liquid is extracted directly from disturbance waves, reducing their mass, area of interaction to the gas shear and, hence, velocity. Passing frequency of disturbance waves at each downstream position was measured automatically with a new algorithm of identification of characteristic lines of individual disturbance waves. Scenarios of coalescence of individual disturbance waves were identified. Transition from initial high-frequency Kelvin-Helmholtz waves appearing at the inlet to highly nonlinear disturbance waves with lower frequency was studied near the inlet using 3D realisation of BBLIF method in the same cylindrical channel and in a rectangular duct with cross-section of 5 mm by 50 mm. It was shown that the initial waves are generally two-dimensional but are promptly broken into localised three-dimensional wavelets. Coalescence of these wavelets leads to formation of quasi two-dimensional disturbance waves. Using cross-correlation analysis, loss and restoration of two-dimensionality of film surface with downstream distance were studied quantitatively. It was shown that all the processes occur closer to the inlet at higher gas velocities.

Keywords: annular flow, disturbance waves, entrainment, flow development

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Authors: Yu-Ting Wang, Yun-Hsiang Cheng, Chien-Cheng Lin, Kun-Lin Lin

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Using a transient liquid phase method, Al was successfully bonded with Al₂O₃, which deposited Ni, Cu, Ge, and Si at the surface of the Al₂O₃ substrate after annealing at the relatively low melting point of Al. No reaction interlayer existed at the interface of any Al/Al₂O₃ specimens. Al−Fe intermetallic compounds, such as Al₉Fe₂ and Al₃Fe, formed in the Al substrate because of the precipitation of Fe, which was an impurity of the Al foil, and the reaction with Al at the grain boundaries of Al during annealing processing. According to the evaluation results of mechanical and thermal properties, the Al/Al₂O₃ specimen deposited on the Ni film possessed the highest shear strength, thermal conductivity, and bonding area percentage, followed by the Cu, Ge, and Si films. The properties of the Al/Al₂O₃ specimens deposited with Ge and Si were relatively unsatisfactory, which could be because the deposited amorphous layers easily formed oxide, resulting in inferior adhesion between Al and Al₂O₃. Therefore, the optimal choice for use in high-power devices is Al/Al₂O₃, with the deposition of Ni film.

Keywords: direct-bonded aluminum, transient liquid phase, thermal conductivity, microstructures, shear strength

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Authors: Ahmad Khoirul Umam

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This paper investigates the role of vested interests and its impacts on anti-corruption agenda in Indonesia following the collapse of authoritarian regime in 1998. A pervasive and rampant corruption has been believed as the main cause of the state economy’s fragility. Hence, anti-corruption measures were implemented by applying democratization and market liberalization since the establishment of a consolidated democracy which go hand in hand with a liberal market economy is convinced to be an efficacious prescription for effective anti-corruption. The reform movement has also mandated the establishment of the independent, neutral and professional special anti-corruption agency namely Corruption Eradication Commission (KPK) to more intensify the fight against the systemic corruption. This paper will examine whether these anti-corruption measures have been effective to combat corruption, and investigate to what extend have the anti-corruption efforts, especially those conducted by KPK, been impeded by the emergence of a nexus of vested interests as the side-effect of democratization and market liberalization. Based on interviews with key stakeholders from KPK, other law enforcement agencies, government, prominent scholars, journalists and NGOs in Indonesia, it is found that since the overthrow of Soeharto, anti-corruption movement in the country have become more active and serious. After gradually winning the hearth of people, KPK successfully touched the untouchable corruption perpetrators who were previously protected by political immunity, legal protection and bureaucratic barriers. However, these changes have not necessarily reduced systemic and structural corruption practices. Ironically, intensive and devastating counterattacks were frequently posed by the alignment of business actors, elites of political parties, government, and also law enforcement agencies by hijacking state’s instruments to make KPK deflated, powerless, and surrender. This paper concludes that attempts of democratization, market liberalization and the establishment of anti-corruption agency may have helped Indonesia to reduce corruption. However, it is still difficult to imply that such anti-corruption measures have fostered the more effective anti-corruption works in the newly democratized and weakly regulated liberal economic system.

Keywords: vested interests, democratization, market liberalization, anti-corruption, Indonesia

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Authors: Foad Hassaninejadafarahani, Scott Ormiston

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Reflux condensation occurs in a vertical channels and tubes when there is an upward core flow of vapor (or gas-vapor mixture) and a downward flow of the liquid film. The understanding of this condensation configuration is crucial in the design of reflux condensers, distillation columns, and in loss-of-coolant safety analyses in nuclear power plant steam generators. The unique feature of this flow is the upward flow of the vapor-gas mixture (or pure vapor) that retards the liquid flow via shear at the liquid-mixture interface. The present model solves the full, elliptic governing equations in both the film and the gas-vapor core flow. The computational mesh is non-orthogonal and adapts dynamically the phase interface, thus produces sharp and accurate interface. Shear forces and heat and mass transfer at the interface are accounted for fundamentally. This modeling is a big step ahead of current capabilities by removing the limitations of previous reflux condensation models which inherently cannot account for the detailed local balances of shear, mass, and heat transfer at the interface. Discretisation has been done based on a finite volume method and a co-located variable storage scheme. An in-house computer code was developed to implement the numerical solution scheme. Detailed results are presented for laminar reflux condensation from steam-air mixtures flowing in vertical parallel plate channels. The results include velocity and pressure profiles, as well as axial variations of film thickness, Nusselt number and interface gas mass fraction.

Keywords: Reflux, Condensation, CFD-Two Phase, Nusselt number

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Authors: Adeolu O. Dairo

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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

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Authors: M. Khajezadeh, M. Saied Fallah Niasar, S. Ali Asli, D. Davani Davari, M. Godarzi, Y. Asgari

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This study aims to explore the joint application of both Boston and Ansoff matrices in the operational development of the product. We conduct deep analysis, by utilizing the Artificial Neural Network, to predict the position of the product in the market while the company is interested in increasing its share. The data are gathered from two industries, called hygiene and detergent. In doing so, the effort is being made by investigating the behavior of top player companies and, recommend strategic orientations. In conclusion, this combination analysis is appropriate for operational development; as well, it plays an important role in providing the position of the product in the market for both hygiene and detergent industries. More importantly, it will elaborate on the company’s strategies to increase its market share related to a combination of the Boston Consulting Group (BCG) Matrix and Ansoff Matrix.

Keywords: artificial neural network, portfolio analysis, BCG matrix, Ansoff matrix

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Authors: M. Maleczek, Leszek Bogdan, Kazimierz Drabczyk, Agnieszka Iwan

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Crystalline silicon (Si) solar cells are the main product in the market among the various photovoltaic technologies concerning such advantages as: material richness, high carrier mobilities, broad spectral absorption range and established technology. However, photovoltaic technology on the stiff substrates are heavier, more fragile and less cost-effective than devices on the flexible substrates to be applied in special applications. The main goal of our work was to incorporate silicon solar cells into various fabric, without any change of the electrical and mechanical parameters of devices. This work is realized for the GEKON project (No. GEKON2/O4/268473/23/2016) sponsored by The National Centre for Research and Development and The National Fund for Environmental Protection and Water Management. In our work, the polyamide or polyester fabrics were used as a flexible substrate in the created devices. Applied fabrics differ in tensile and tear strength. All investigated polyamide fabrics are resistant to weathering and UV, while polyester ones is resistant to ozone, water and ageing. The examined fabrics are tight at 100 cm water per 2 hours. In our work, commercial silicon solar cells with the size 156 × 156 mm were cut into nine parts (called single solar cells) by diamond saw and laser. Gap and edge after cutting of solar cells were checked by transmission electron microscope (TEM) to study morphology and quality of the prepared single solar cells. Modules with the size of 160 × 70 cm (containing about 80 single solar cells) were created and investigated by electrical and mechanical methods. Weight of constructed module is about 1.9 kg. Three types of solar cell architectures such as: -fabric/EVA/Si solar cell/EVA/film for lamination, -backsheet PET/EVA/Si solar cell/EVA/film for lamination, -fabric/EVA/Si solar cell/EVA/tempered glass, were investigated taking into consideration type of fabric and lamination process together with the size of solar cells. In investigated devices EVA, it is ethylene-vinyl acetate, while PET - polyethylene terephthalate. Depend on the lamination process and compatibility of textile with solar cell an efficiency of investigated flexible silicon solar cells was in the range of 9.44-16.64 %. Multi folding and unfolding of flexible module has no impact on its efficiency as was detected by Instron equipment. Power (P) of constructed solar module is 30 W, while voltage about 36 V. Finally, solar panel contains five modules with the polyamide fabric and tempered glass will be produced commercially for different applications (dual use).

Keywords: flexible devices, mechanical properties, silicon solar cells, textiles

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Authors: Waqar Ahmad Bajwa

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In the land market, there are two kinds of government intervention. First one is the control of development and second is the supply of land. In the both intervention Government has a lot of benefits. In development control the government designation of conservation areas and the effects of growth controls which may increase the price of land. On other hand Government also apply charge fee on land. The second type of intervention is to increase the supply of land, either by direct action or indirect action, as in the Pakistan, by obligatory purchase or important domain.

Keywords: supply of control, control of development, charge fee, land control

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Authors: Rotem Mashkov, Noam Shoval

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In an age when a tourist’s gaze is more focused on the daily lives of locals, it is evident that local food markets are being rediscovered. Traditional urban markets succeed in reinventing themselves as a space for consumption, recreation, and culture, enabling authentic experiences and interpersonal interactions with the local culture. Alongside this, the pressure of tourism development may result in commercialization and retail gentrification to the point of losing the sense of local identity. The issue of finding a balance between tourism development and the preservation of unique local features is at the heart of this study and is being tested using the case of the Mahane Yehuda market in Jerusalem. The research question—how merchants respond to tourism development in the Mahane Yehuda food market— focuses on local traders, a group of players who are usually absent from the research arenas, although they influence tourism development as well as influenced by it. Three main research methods were integrated into this study. The first two methods, a survey of articles survey and comparative mapping of the business mix, were used to characterize the changes in the Mahane Yehuda market both consciously and physically. The third research method, involving in-depth interviews with merchants, was used to examine the traders' attitudes and responses to tourism development. The findings indicate that there has been a turnaround in the market image over the past decade and a half. Additionally, there has been a significant physical change in the business mix, reflected by a decline of 15% in the number of stalls selling food products and delicacies. The data from the interviews on the traders’ attitudes towards tourism development were inconclusive; there were disagreements among the traders about the economic contribution of tourism development in relation to their dependence on the tourism industry. However, there was a consensus on the need for authentic elements in the marketplace. The findings of the study also indicate a strong link between the merchants’ response to tourism development and their stall ownership status as the merchant could exercise their position in various ways depending on the possession type.

Keywords: business mix, Jerusalem, local food markets, Mahane Yehuda market, merchants’ attitude, ownership status, retail gentrification, tourism development, traditional urban markets

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Authors: Azizah Hashim, Rohana Ngah

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Transformation of Economic Development is aimed to transform Malaysia to become a high-income developed nation with a knowledge-based economy by 2020. To achieve this national agenda, the country needs to further strengthen its economic development, growth and well-being. Therefore, this study aspires to examine the relationship between market orientation, human resource management and adoption of information communication technology and SMEs performance and cash management as a mediator. This study will employ quantitative approaches. Questionnaires will be distributed to managers and owners in service sectors. The data collected will be analyzed using SPSS and Structural Equation Modelling. Resource Based Theory (RBT) adopts as an integral part of management literature that explains the performance of organizations through building resources and implement of their strategies.

Keywords: small medium enterprises (SMEs), market orientation, human resource management, adoption of information communication technology

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Authors: Javad Izadi, Sahar Majioud

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This study presents an approach of assessing the choice of performance measures of companies in the United Kingdom after the application of IFRS in 2005. The aim of this study is to investigate the effects of IFRS on the choice of performance evaluation methods for UK companies. We analyse through an econometric model the relationship of the dependent variable, the firm’s performance, which is a nominal variable with the independent ones. Independent variables are split into two main groups: the first one is the group of accounting-based measures: Earning per share, return on assets and return on equities. The second one is the group of market-based measures: market value of property plant and equipment, research and development, sales growth, market to book value, leverage, segment and size of companies. Concerning the regression used, it is a multinomial logistic regression performed on a sample of 130 UK listed companies. Our finding shows after IFRS adoption, and companies give more importance to some variables such as return on equities and sales growth to assess their performance, whereas the return on assets and market to book value ratio does not have as much importance as before IFRS in evaluating the performance of companies. Also, there are some variables that have no impact on the performance measures anymore, such as earning per share. This article finding is empirically important for business in subjects related to IFRS and companies’ performance measurement.

Keywords: performance’s Measure, nominal variable, econometric model, evaluation methods

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Authors: Md. Qamruzzaman, Wei Jianguo

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Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

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Authors: Imad Zeyad Ramadan

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In this paper a genetic algorithm was developed to construct the optimal portfolio based on the Treynor method. The GA maximizes the Treynor ratio under budget constraint to select the best allocation of the budget for the companies in the portfolio. The results show that the GA was able to construct a conservative portfolio which includes companies from the three sectors. This indicates that the GA reduced the risk on the investor as it choose some companies with positive risks (goes with the market) and some with negative risks (goes against the market).

Keywords: oOptimization, genetic algorithm, portfolio selection, Treynor method

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Hyun-Sook Lee, Hongjae Moon, Hwaebong Jung, Sumin Kim, Wooyoung Lee

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Low-temperature phase (LTP) of MnBi has attracted much attention because it has a larger coercivity than that of Nd-Fe-B at high temperature, which gives high potential as a permanent magnet material that can be used at such high temperature. We present variation in magnetic properties of MnBi films by controlling the numbers of Bi/Mn bilayer. The thin films of LTP-MnBi were fabricated onto glass substrates by UHV sputtering, followed by in-situ annealing process at an optimized condition of 350 °C and 1.5 hours. The composition ratio of Bi/Mn was adjusted by varying the thickness of Bi and Mn layers. The highest value of (BH)max ~ 8.6 MGOe at room temperature was obtained in one Bi/Mn bilayer with 34 nm Bi and 16 nm Mn. To investigate the effect of Bi/Mn multilayers on the magnetic properties, we increased the numbers of Bi/Mn bilayer up to five at which the total film thicknesses of Bi and Mn were fixed with 34 nm and 16 nm. The increase of coercivity was observed up to three layers from 4.8 kOe to 15.3 kOe and then suppression was appeared. A reversed behavior was exhibited in the magnetization. We found that these were closely related to a microstructural change of LTP-MnBi and a reduction of growth rate of LTP-MnBi by analyzing XRD and TEM results. We will discuss how the multilayered MnBi affects the magnetic properties in details.

Keywords: coercivity, MnBi, multilayer film, permanent magnet

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Authors: N. Marzban, J. K. Heydarzadeh M. Pourmohammadbagher, M. H. Hatami, A. Samia

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A nano-alumina-zirconia composite catalyst was synthesized by a simple aqueous sol-gel method using AlCl₃.6H₂O and ZrCl₄ as precursors. Thermal decomposition of the precursor and subsequent formation of γ-Al₂O₃ and t-Zr were investigated by thermal analysis. XRD analysis showed that γ-Al₂O₃ and t-ZrO₂ phases were formed at 700 °C. FT-IR analysis also indicated that the phase transition to γ-Al₂O₃ occurred in corroboration with X-ray studies. TEM analysis of the calcined powder revealed that spherical particles were in the range of 8-12 nm. The nano-alumina-zirconia composite particles were mesoporous and uniformly distributed in their crystalline phase. In order to measure the catalytic activity, esterification reaction was carried out. Biodiesel, as a renewable fuel, was formed in a continuous packed column reactor. Free fatty acid (FFA) was esterified with ethanol in a heterogeneous catalytic reactor. It was found that the synthesized γ-Al₂O₃/ZrO₂ composite had the potential to be used as a heterogeneous base catalyst for biodiesel production processes.

Keywords: nano alumina-zirconia, composite catalyst, thin film, biodiesel

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Authors: Saeed Rabea Baatwah, Zalailah Salleh, Norsiah Ahmad

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This study examines whether audit committee chair with financial expertise enhances the audit committee role in financial reporting quality in emerging market. We investigate this influence by employing the direct effect and moderating effect of audit committee chair with financial expertise on financial reporting timeliness. By using Omani data and the panel data method for two proxies for financial reporting timeliness, we find that audit committee chair with financial expertise enhances the timeliness of financial reporting through making the disclosure of annual reports timely. Further, we report evidence showing that both accounting and non-accounting financial expertise on the audit committee have a positive and significant influence on the timeliness of financial reporting. We also document that the association between financial expertise and the timeliness of financial reporting is more pronounced when the chair of the audit committee has financial expertise. This study is among the first to comprehensively prove that audit committee chair with financial expertise contributes to the quality of financial reporting in emerging market.

Keywords: audit committee, chair with financial expertise, timeliness of financial reporting, Oman

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Authors: Sun-Ki Choi

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The U.S. student loan policy was initiated to improve the equality of educational opportunity and help low-income families to provide higher education opportunities for their children. However, with the increase in the average student loan amount, college graduates with student loans experience problems and restrictions in their early-career choices. This study examines the early career labor market choices of college graduates who obtained student loans to finance their higher education. In this study, National Survey of College Graduates (NSCG) data for 2017 and 2019 was used to estimate the effects of student loans on the employment status and current job wages of graduates with student loans. In the analysis, two groups of workers, those with student loans and those without loans, were compared. Using basic models and Mahalanobis distance matching, it was found that graduates who rely on student loans to finance their education are more likely to participate in the labor market than those who do not. Moreover, in entry-level jobs, graduates with student loans receive lower salaries than those without student loans. College graduates make job-related decisions based on their current and future wages and fringe benefits. Graduates with student loans tend to demonstrate risk-averse behaviors due to their financial restrictions. Thus, student loan debt creates inequity in the early-career labor market for college graduates. Furthermore, this study has implications for policymakers and researchers in terms of the student loan policy.

Keywords: student loan, wage differential, unintended consequences, mahalanobis distance matching

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Authors: Walailak Atthirawong

Abstract:

By the end of 2015, the Association of Southeast Asian Nations (ASEAN) countries proclaim to transform into the next stage of an economic era by having a single market and production base called ASEAN Economic Community (AEC). One objective of the AEC is to establish ASEAN as a single market and one production base making ASEAN highly competitive economic region and competitive with new mechanisms. As a result, it will open more opportunities to enterprises in both trade and investment, which offering a competitive market of US$ 2.6 trillion and over 622 million people. Location decision plays a key role in achieving corporate competitiveness. Hence, it may be necessary for enterprises to redesign their supply chains via enlarging a new production base which has low labor cost, high labor skill and numerous of labor available. This strategy will help companies especially for apparel industry in order to maintain a competitive position in the global market. Therefore, in this paper a generic model for location selection decision for Thai apparel industry using Fuzzy Analytical Network Process (FANP) is proposed. Myanmar, Vietnam and Cambodia are referred for alternative location decision from interviewing expert persons in this industry who have planned to enlarge their businesses in AEC countries. The contribution of this paper lies in proposing an approach model that is more practical and trustworthy to top management in making a decision on location selection.

Keywords: apparel industry, ASEAN Economic Community (AEC), Fuzzy Analytical Network Process (FANP), location decision

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Authors: Li Lei, Jia Jidong

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Employment right is linked to the people’s livelihood in our society. As a most important and representative part in the labor market, the employment of public servants is always taking much attention. But the discrimination in the employment of public servants has always existed and, to become a controversy in our society. The paper try to discuss this problem from four parts as follows: First, the employment of public servants has a representative status in our labor market. The second part is about the discrimination in the employment of public servants. The third part is about the right of equality and its significance. The last part is to analysis the legal predicament about discrimination in the employment of public servants in China.

Keywords: discrimination, employment of public servants, right of labor, law

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Authors: Debarun Dhar Purkayastha, Talinungsang

Abstract:

SnO₂-TiO₂ nanocomposite thin films were prepared by the sol-gel method on borosilicate glass substrate. The films were annealed at a temperature of 300ᵒC, 400ᵒC, and 500ᵒC respectively for 2h in the air. The films obtained were further modified with stearic acid in order to decrease the surface energy. The X-ray diffraction patterns for the SnO₂-TiO₂ thin films after annealing at different temperatures can be indexed to the mixture of TiO₂ (rutile and anatase) and SnO₂ (tetragonal) phases. The average crystallite size calculated from Scherrer’s formula is found to be 6 nm. The SnO₂-TiO₂ thin films were hydrophilic which on modification with stearic acid exhibit superhydrophobic behavior. The increase in hydrophobicity of SnO₂ film with stearic acid modification is attributed to the change in surface energy of the film. The films exhibit superhydrophilic behavior under UV irradiation for 1h. Thus, it is observed that stearic acid modified surfaces are superhydrophobic but convert into superhydrophilic on being subjected to UV irradiation. SnO₂-TiO₂ thin films have potential for self-cleaning applications because of photoinduced hydrophilicity under UV irradiation.

Keywords: nanocomposite, self-cleaning, superhydrophobic, surface energy

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Authors: T. M. Aminu, A. Salisu, B. Abdu, H. U. Alhassan, T. H. Dharma

Abstract:

Thin films of CuAlO2 were deposited on clean glass substrate using the chemical solution deposition (sol-gel) method of deposition with CuCl and AlCl3 taken as the starting materials. CuCl was dissolved in HCl while AlCl₃ in distilled water, pH value of the mixture was controlled by addition of NaOH. The samples were annealed at different temperatures in order to determine the effect of annealing temperatures on the morphological and optical properties of the deposited CuAlO₂ thin film. The surface morphology reveals an improved crystalline as annealing temperature increases. The results of the UV-vis and FT-IR spectrophotometry indicate that the absorbance for all the samples decreases sharply from a common value of about 89% at about 329 nm to a range of values of 56.2%-35.2% and the absorption / extinction coefficients of the films decrease with increase in annealing temperature from 1.58 x 10⁻⁶ to1.08 x 10⁻⁶ at about 1.14eV in the infrared region to about 1.93 x 10⁻⁶ to 1.29 x 10⁻⁶ at about 3.62eV in the visible region, the transmittance, reflectance and band gaps vary directly with annealing temperature, the deposited films were found to be suitable in optoelectronic applications.

Keywords: copper aluminium-oxide (CuAlO2), absorbance, transmittance, reflectance, band gaps

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Authors: Ping Ren, Mao Wen, Kan Zhang, Weitao Zheng

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The improvement of comprehensive properties including hardness, toughness, wear, and corrosion resistance in the transition metal carbides/nitrides TMCN films, especially avoiding the trade-off between hardness and toughness, is strongly required to adapt to various applications. Although incorporating ductile metal DM phase into the TMCN via thermally-induced phase separation has been emerged as an effective approach to toughen TMCN-based films, the DM is just limited to some soft ductile metal (i.e. Cu, Ag, Au immiscibility with the TMCN. Moreover, hardness is highly sensitive to soft DM content and can be significantly worsened. Hence, a novel preparation method should be attempted to broaden the DM selection and assemble much more ordered nanocomposite structure for improving the comprehensive properties. Here, we provide a new strategy, by activating solid-state dewetting during layered deposition, to accomplish the self-assembly of ordered TaC@Ta core-shell-like nanocomposite film consisting of TaC nanocrystalline encapsulated with thin pseudocrystal Ta tissue. That results in the superhard (~45.1 GPa) dominated by Orowan strengthening mechanism and high toughness attributed to indenter-induced phase transformation from the pseudocrystal to body-centered cubic Ta, together with the drastically enhanced wear and corrosion resistance. Furthermore, very thin pseudocrystal Ta encapsulated layer (~1.5 nm) in the TaC@Ta core-shell-like structure helps for promoting the formation of lubricious TaOₓ Magnéli phase during sliding, thereby further dropping the coefficient of friction. Apparently, solid-state dewetting may provide a new route to construct ordered TMC(N)@TM core-shell-like nanocomposite capable of combining superhard, high toughness, low friction, superior wear with corrosion resistance.

Keywords: corrosion, nanocomposite film, solid-state dewetting, tribology

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Authors: Mariam Waheed Mekheimar

Abstract:

Nascent research is conducted to the advancement of discourse analysis to include different modes as images, sound, and text. The focus of this study will be to elucidate how images are embedded with texts in an audio-visual medium as cinema to send political messages; it also seeks to broaden our understanding of politics beyond a relatively narrow conceptualization of the 'political' through studying non-traditional discourses as the cinematic discourse. The aim herein is to develop a systematic approach to film analysis to capture political meanings in films. The method adopted in this research is Multimodal Discourse Analysis (MDA) focusing on embedding visuals with texts. As today's era is the era of images and that necessitates analyzing images. Drawing on the writings of O'Halloran, Kress and Van Leuween, John Bateman and Janina Wildfeuer, different modalities will be studied to understand how those modes interact in the cinematic discourse. 'People at the top movie' is selected as an example to unravel the political meanings throughout film tackling the cinematic representation of the notion of social justice.

Keywords: Egyptian cinema, multimodal discourse analysis, people at the top, social justice

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