Search results for: order driven market

Authors: Raúl Bajo-Buenestado

Abstract:

This paper studies the impact of the intensity of market competition on firms' willingness to adopt green technologies —which has become particularly relevant in the light of the debate on whether competition policies should be relaxed to achieve certain environmental targets. We exploit the staggered rollout of different rail-hailing platforms (most notably, Uber) across different metropolitan areas in Spain as a natural experiment that provides time and city-specific exogenous variation in the intensity of competition to study the impact on taxi drivers' decisions to purchase “green” or “dirty” vehicles. It was shown that the entry of these platforms significantly increased the takeout of green vehicles among professional drivers in incumbent (dominant) conventional taxi companies and decreased that of dirty vehicles. The exact opposite effect is observed in the cities where these platforms were extremely unlikely to enter. Back of the envelope calculations suggest that the entry of Uber is associated with an extra green vehicle purchase in every four among taxi drivers, resulting in a substantial drop in the level of emissions from the taxi fleet —still mostly dominated diesel vehicles.

Keywords: technological change, green technology adoption, market competition, diffusion of technology, environmental externalities

Procedia PDF Downloads 137

Authors: D. A. Carnegie

Abstract:

Whilst there is a movement towards increased digital augmentation in order to facilitate effective tertiary learning, this must come with an awareness of the limitations of such an approach. Learning is best achieved in an environment that includes their learning peers where difficulties can be shared and learning enabled. Policy that advocates for digital technology in place of a physical classroom is dangerous and is often driven by financial concerns rather than pedagogical ones. In this paper, a mostly digital-less form of teaching is presented – one that has proven to be extremely effective. Implicit is anecdotal evidence that student prefer the old overhead transparencies to PowerPoint presentations. Varying and reinforcing assessment, facilitation of effective note-taking, and just actively engaging with students is at the core of a good tertiary education experience. Digital techniques can augment and complement, but not replace these core personal teaching requirements.

Keywords: engineering education, active classroom engagement, effective note taking, reinforcing assessment

Procedia PDF Downloads 346

Authors: Saeidreza Radpour, Md. Ahiduzzaman, Amit Kumar

Abstract:

Alberta’s mining sector consumed 871.3 PJ in 2012, which is 67.1% of the energy consumed in the industry sector and about 40% of all the energy consumed in the province of Alberta. Natural gas, petroleum products, and electricity supplied 55.9%, 20.8%, and 7.7%, respectively, of the total energy use in this sector. Oil sands mining and upgrading to crude oil make up most of the mining energy sector activities in Alberta. Crude oil is produced from the oil sands either by in situ methods or by the mining and extraction of bitumen from oil sands ore. In this research, the factors affecting oil sands production have been assessed and a framework has been developed for market penetration of new efficient technologies in this sector. Oil sands production amount is a complex function of many different factors, broadly categorized into technical, economic, political, and global clusters. The results of developed and implemented statistical analysis in this research show that the importance of key factors affecting on oil sands production in Alberta is ranked as: Global energy consumption (94% consistency), Global crude oil price (86% consistency), and Crude oil export (80% consistency). A framework for modeling oil sands energy technologies’ market penetration (OSETMP) has been developed to cover related technical, economic and environmental factors in this sector. It has been assumed that the impact of political and social constraints is reflected in the model by changes of global oil price or crude oil price in Canada. The market share of novel in situ mining technologies with low energy and water use are assessed and calculated in the market penetration framework include: 1) Partial upgrading, 2) Liquid addition to steam to enhance recovery (LASER), 3) Solvent-assisted process (SAP), also called solvent-cyclic steam-assisted gravity drainage (SC-SAGD), 4) Cyclic solvent, 5) Heated solvent, 6) Wedge well, 7) Enhanced modified steam and Gas push (emsagp), 8) Electro-thermal dynamic stripping process (ET-DSP), 9) Harris electro-magnetic heating applications (EMHA), 10) Paraffin froth separation. The results of the study will show the penetration profile of these technologies over a long term planning horizon.

Keywords: appliances efficiency improvement, diffusion models, market penetration, residential sector

Procedia PDF Downloads 325

Authors: Faruk Inaltekin, Imran Gurakan

Abstract:

This paper will aim to discuss the importance of value-added services provided by Science and Technology Parks for entrepreneurship development in Turkey. Entrepreneurship is vital subject for all countries. It has not only fostered economic development but also promoted innovation at local and international levels. To foster high tech entrepreneurship ecosystem, Technopark (Science and Technology Park/STP) concept was initiated with the establishment of Silicon Valley in the 1950s. The success and rise of Silicon Valley led to the spread of technopark activities. Developed economies have been setting up projects to plan and build STPs since the 1960s and 1970s. To promote the establishment of STPs, necessary legislations were made by Ministry of Science, Industry, and Technology in 2001, Technology Development Zones Law (No. 4691) and it has been revised in 2016 to provide more supports. STPs’ basic aim is to provide customers high-quality office spaces with various 'value added services' such as business development, network connections, cooperation programs, investor/customers meetings and internationalization services. For this aim, STPs should help startups deal with difficulties in the early stages and to support mature companies’ export activities in the foreign market. STPs should support the production, commercialization and more significantly internationalization of technology-intensive business and foster growth of companies. Nowadays within this value-added services, internationalization is very popular subject in the world. Most of STPs design clusters or accelerator programs in order to support their companies in the foreign market penetration. If startups are not ready for international competition, STPs should help them to get ready for foreign market with training and mentoring sessions. These training and mentoring sessions should take a goal based approach to working with companies. Each company has different needs and goals. Therefore the definition of ‘success' varies for each company. For this reason, it is very important to create customized value added services to meet the needs of startups. After local supports, STPs should also be able to support their startups in foreign market. Organizing well defined international accelerator program plays an important role in this mission. Turkey is strategically placed between key markets in Europe, Russia, Central Asia and the Middle East. Its population is young and well educated. So both government agencies and the private sectors endeavor to foster and encourage entrepreneurship ecosystem with many supports. In sum, the task of technoparks with these and similar value added services is very important for developing entrepreneurship ecosystem. The priorities of all value added services are to identify the commercialization and growth obstacles faced by entrepreneurs and get rid of them with the one-to-one customized services. Also, in order to have a healthy startup ecosystem and create sustainable entrepreneurship, stakeholders (technoparks, incubators, accelerators, investors, universities, governmental organizations etc.) should fulfill their roles and/or duties and collaborate with each other. STPs play an important role as bridge for these stakeholders & entrepreneurs. STPs always should benchmark and renew services offered to how to help the start-ups to survive, develop their business and benefit from these stakeholders.

Keywords: accelerator, cluster, entrepreneurship, startup, technopark, value added services

Procedia PDF Downloads 138

Authors: Minavand Mohammad, Maghsoudi Masoud, Mousavi Mahdis, Vahed Zahra, Hamidi Shabnam

Abstract:

While workaholism in organizations has received considerable popular attention, our understanding of it on the basis of research proof is limited. This comes from the deficiency of both appropriate definitions and measures of the concept. The purpose of this paper is to investigate gender, career and educational diversity in three workaholism components among Iranian journalists. Data were collected from 243 journalists (110 men and 133 women) using nameless completed questionnaires, with a 48 percent response rate. No gender differences found between male and female respondents, so there seems no consistency with previous findings. Furthermore, the results showed that different levels of jobs and education score correspondingly on the measures of work involvement, feeling driven to work and work enjoyment. All data are gathered using self report questionnaires. It is not evident the extent to which these findings would generalize to men and women in other vocations. This investigation has a contribution to the small but growing literature on flow and optimal experience in media organizations in Iran.

Keywords: gender, career, education, workaholism, Iranian journalists, work involvement, work enjoyment, feeling driven to work

Procedia PDF Downloads 380

Authors: Juhee Lee, Yongjun Lee

Abstract:

In designing a low-energy-consuming buildings, the heat transfer through a large glass or wall becomes critical. Multiple layers of the window glasses and walls are employed for the high insulation. The gravity driven air flow between window glasses or wall layers is a natural heat convection phenomenon being a key of the heat transfer. For the first step of the natural heat transfer analysis, in this study the development and application of a finite volume method for the numerical computation of viscous incompressible flows is presented. It will become a part of the natural convection analysis with high-order scheme, multi-grid method, and dual-time step in the future. A finite volume method based on a fully-implicit second-order is used to discretize and solve the fluid flow on unstructured grids composed of arbitrary-shaped cells. The integrations of the governing equation are discretised in the finite volume manner using a collocated arrangement of variables. The convergence of the SIMPLE segregated algorithm for the solution of the coupled nonlinear algebraic equations is accelerated by using a sparse matrix solver such as BiCGSTAB. The method used in the present study is verified by applying it to some flows for which either the numerical solution is known or the solution can be obtained using another numerical technique available in the other researches. The accuracy of the method is assessed through the grid refinement.

Keywords: finite volume method, fluid flow, laminar flow, unstructured grid

Procedia PDF Downloads 284

Authors: Nadezhda Kvatashidze

Abstract:

The International Accounting Standards Board updated the conceptual framework for financial reporting. The main reason behind it is to resolve the tasks of the accounting, which are caused by the market development and business-transactions of a new economic content. Also, the investors call for higher transparency of information and responsibility for the results in order to make a more accurate risk assessment and forecast. All these make it necessary to further develop the conceptual framework for financial reporting so that the users get useful information. The market development and certain shortcomings of the conceptual framework revealed in practice require its reconsideration and finding new solutions. Some issues and concepts, such as disclosure and supply of information, its qualitative characteristics, assessment, and measurement uncertainty had to be supplemented and perfected. The criteria of recognition of certain elements (assets and liabilities) of reporting had to be updated, too and all this is set out in the updated edition of the conceptual framework for financial reporting, a comprehensive collection of concepts underlying preparation of the financial statement. The main objective of conceptual framework revision is to improve financial reporting and development of clear concepts package. This will support International Accounting Standards Board (IASB) to set common “Approach & Reflection” for similar transactions on the basis of mutually accepted concepts. As a result, companies will be able to develop coherent accounting policies for those transactions or events that are occurred from particular deals to which no standard is used or when standard allows choice of accounting policy.

Keywords: conceptual framework, measurement basis, measurement uncertainty, neutrality, prudence, stewardship

Procedia PDF Downloads 119

Authors: J. Y. Sun, H. Z. Shen

Abstract:

We study the photon blockade at exceptional points for a non-Hermitian optomechanical system coupled to the driven whispering-gallery-mode microresonator with two nanoparticles under the weak optomechanical coupling approximation, where exceptional points emerge periodically by controlling the relative angle of the nanoparticles. We find that conventional photon blockade occurs at exceptional points for the eigenenergy resonance of the single-excitation subspace driven by a laser field and discuss the physical origin of conventional photon blockade. Under the weak driving condition, we analyze the influences of the different parameters on conventional photon blockade. We investigate conventional photon blockade at nonexceptional points, which exists at two optimal detunings due to the eigenstates in the single-excitation subspace splitting from one (coalescence) at exceptional points to two at nonexceptional points. Unconventional photon blockade can occur at nonexceptional points, while it does not exist at exceptional points since the destructive quantum interference cannot occur due to the two different quantum pathways to the two-photon state not being formed. The realization of photon blockade in our proposal provides a viable and flexible way for the preparation of single-photon sources in the non-Hermitian optomechanical system.

Keywords: optomechanical systems, photon blockade, non-hermitian, exceptional points

Procedia PDF Downloads 127

Authors: Markéta Gregušová, Vladimíra Schindlerová, Ivana Šajdlerová, Petr Mohyla, Jan Kedroň

Abstract:

Company managers are always looking for more and more opportunities to succeed in today's fiercely competitive market. To maintain your place among the successful companies on the market today or to come up with a revolutionary business idea is much more difficult than before. Each new or improved method, tool, or approach that can improve the functioning of business processes or even of the entire system is worth checking and verification. The use of simulation in the design of manufacturing systems and their management in practice is one of the ways without increased risk, which makes it possible to find the optimal parameters of manufacturing processes and systems. The paper presents an example of use of simulation for solution of the bottleneck problem in the concrete company.

Keywords: practical applications, business processes, systems, simulation

Procedia PDF Downloads 539

Authors: Ibrahim H. Kilic, A. B. Tugrul

Abstract:

Energy is a fundamental component in economic development and energy consumption is an index of prosperity and the standard of living. The consumption of energy per capita has increased significantly over the last decades, as the standard of living has improved. Turkey’s geographical location has several advantages for extensive use of wind power. Among the renewable sources, Turkey has very high wind energy potential. Information such as installation capacity of wind power plants in installation, under construction and license stages in the country are reported in detail. Some suggestions are presented in order to increase the wind power installation capacity of Turkey. Turkey’s economic and social development has led to a massive increase in demand for electricity over the last decades. Since the Turkey has no major oil or gas reserves, it is highly dependent on energy imports and is exposed to energy insecurity in the future. But Turkey does have huge potential for renewable energy utilization. There has been a huge growth in the construction of wind power plants and small hydropower plants in recent years. To meet the growing energy demand, the Turkish Government has adopted incentives for investments in renewable energy production. Wind energy investments evaluated the impact of feed-in tariffs (FIT) based on three scenarios that are optimistic, realistic and pessimistic with APLUS software that is developed for rational evaluation for energy market. Results of the three scenarios are evaluated in the view of electricity market for Turkey.

Keywords: APLUS, energy policy, renewable energy, wind power, Turkey

Procedia PDF Downloads 298

Authors: Homin Kim, Hyungjo Byun, Jinyoung Do, Yongil Lee, Hyunho Shin, Seungbae Lee

Abstract:

Engine room of mobile hydraulic vehicle is densely packed with an engine and many hydraulic components mostly generating heat and sound. Though hydraulic oil cooler, ATF cooler, and axle oil cooler etc. are added to vehicle cooling system of mobile vehicle, the overheating may cause downgraded performance and frequent failures. In order to improve thermal and acoustic environment of engine room, the computational approaches by Computational Fluid Dynamics (CFD) and Boundary Element Method (BEM) are used together with necessary modal analysis of belt-driven system. The engine room design layout and process, which satisfies the design objectives of sound power level and temperature levels of radiator water, charged air cooler, transmission and hydraulic oil coolers, is discussed.

Keywords: acoustics, CFD, engine room design, mobile hydraulics

Procedia PDF Downloads 318

Authors: Indraj Singh, Xuan Lee, Yu-Chieh Cheng

Abstract:

Scientists are very keen on biomimetic research that mimics biological species to micro-robotic devices with the novel functionalities and accessibility. The source of inspiration is the complexity, sophistication, and intelligence of the biological systems. In this work, we design a light-driven star-shaped microgripper, an autonomous soft device which can change the shape under the external stimulus such as light. The design is based on light-responsive Liquid Crystal Elastomers which fabricated onto the polymer coated aligned substrate. The change in shape, controlled by the anisotropicity and the molecular orientation of the Liquid Crystal Elastomer, based on the external stimulus. This artificial star-shaped microgripper is capable of autonomous closure and capable to grab the objects in response to an external stimulus. This external stimulus-responsive materials design, based on soft active smart materials, provides a new approach to autonomous, self-regulating optical systems.

Keywords: liquid crystal elastomers, microgripper, smart materials, robotics

Procedia PDF Downloads 133

Authors: Hanen Khanchel, Karim Ben Kahla

Abstract:

Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.

Keywords: VSM, waste, production time, kaizen, cartography, improvement

Procedia PDF Downloads 144

Authors: Razan Salem

Abstract:

Gender plays a vital role in the stock markets because men and women differ in their behavior when investing in stocks. Accordingly, the role of gender differences in investment behavior is an increasingly important strand in the field of behavioral finance research. The investment behaviors of women relative to men have been examined in the behavioral finance literature, mainly for comparison purposes. Women's roles in the stock market have not been examined in the behavioral finance literature, however, particularly with respect to the Arab region. This study aims to contribute towards a better understanding of the investment behavior of Arab women (in regards to their risk tolerance, investment confidence, and investment literacy levels) relative to Arab men; using a sample from Arab women and men investors living in Saudi Arabia and Jordan. In order to achieve the study's main aim, the researcher used non-parametric tests, as Mann-Whitney U test, along with frequency distribution analysis to analyze the study’s primary data. The researcher distributed close-ended online questionnaires to a sample of 550 Arab male and female individuals investing in stocks in both Saudi Arabia and Jordan. The results confirm that the sample Arab women invest less in stocks compared to Arab men due to their risk-averse behaviors and limited confidence levels. The results also reveal that due to Arab women’s very low investment literacy levels, they fear from taking the risk and invest often in stocks relative to Arab men. Overall, the study’s main variables (risk tolerance, investment confidence, and investment literacy levels) have a combined effect on the investment behavior of Arab women and their limited participation in the stock market. Hence, this study is one of the very first studies that indicate the combined effect of the three main variables (which are usually studied separately in the existing literature) on the investment behavior of women, particularly Arab women. This study makes three important contributions to the growing literature on gender differences in investment behavior. First, while the behavioral finance literature documents evidence on gender differences in investment behaviors in many developed countries, there are very limited studies that investigate such differences in Arab countries. Arab women investors, generally, are ignored from the behavioral finance literature due probably to cultural barriers and data collection difficulties. Thus, this study extends the literature to include Arab women and their investment behaviors when trading stock relative to Arab men. Moreover, the study associates women investment literacy and confidence levels with their financial risk behaviors and participation in the stock market. This study provides direct evidence on Arab women's investment behaviors when trading stocks. Overall, studying Arab women investors is important to investigate whether the investment behavior identified for Western women investors are also found in Arab women investors.

Keywords: Arab women, gender differences, investment behavior, stock markets

Procedia PDF Downloads 175

Authors: Hajer Habib, Ghazi Boulila

Abstract:

The objective of this paper is to present our contribution to the theoretical literature through a simple theoretical model dealing with the effect of transferring funds on the labor market of the countries of origin and on the other hand to test this relationship empirically in the case of Tunisia. The methodology used consists of estimating a panel of the nine main destinations of the Tunisian diaspora in Europe between 1994 and 2014 in order to better value the net effect of these migratory financial flows on unemployment through population growth. The empirical results show that the main factors explaining the decision to emigrate are the economic factors related mainly to the income differential, the demographic factors related to the differential age structure of the origin and host populations, and the cultural factors linked basically to the mastery of the language. Indeed, the stock of migrants is one of the main determinants of the transfer of migratory funds to Tunisia. But there are other variables that do not lack importance such as the economic conditions linked by the host countries. This shows that Tunisian migrants react more to economic conditions in European countries than in Tunisia. The economic situation of European countries dominates the numbers of emigrants as an explanatory factor for the amount of transfers from Tunisian emigrants to their country of origin. Similarly, it is clear that there is an indirect effect of transfers on unemployment in Tunisia. This suggests that the demographic transition conditions the effects of transferring funds on the level of unemployment.

Keywords: demographic changes, international migration, labor market, remittances

Procedia PDF Downloads 145

Authors: Taylan Kabbani, Ekrem Duman

Abstract:

The design of adaptive systems that take advantage of financial markets while reducing the risk can bring more stagnant wealth into the global market. However, most efforts made to generate successful deals in trading financial assets rely on Supervised Learning (SL), which suffered from various limitations. Deep Reinforcement Learning (DRL) offers to solve these drawbacks of SL approaches by combining the financial assets price "prediction" step and the "allocation" step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. In this paper, a continuous action space approach is adopted to give the trading agent the ability to gradually adjust the portfolio's positions with each time step (dynamically re-allocate investments), resulting in better agent-environment interaction and faster convergence of the learning process. In addition, the approach supports the managing of a portfolio with several assets instead of a single one. This work represents a novel DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem, or what is referred to as The Agent Environment as Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. More specifically, we design an environment that simulates the real-world trading process by augmenting the state representation with ten different technical indicators and sentiment analysis of news articles for each stock. We then solve the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm, which can learn policies in high-dimensional and continuous action spaces like those typically found in the stock market environment. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of deep reinforcement learning in financial markets over other types of machine learning such as supervised learning and proves its credibility and advantages of strategic decision-making.

Keywords: the stock market, deep reinforcement learning, MDP, twin delayed deep deterministic policy gradient, sentiment analysis, technical indicators, autonomous agent

Procedia PDF Downloads 174

Authors: S. Jakšić, B. Žmuk

Abstract:

The paper investigates the key factors of export dynamics for a set of Central and Southeast European (CSEE) countries in the context of current economic and financial crisis. In order to model the export dynamics a Global Vector Auto Regressive (GVAR) model is defined. As opposed to models which model each country separately, the GVAR combines all country models in a global model which enables obtaining important information on spill-over effects in the context of globalization and rising international linkages. The results of the study indicate that for most of the CSEE countries, exports are mainly driven by domestic shocks, both in the short run and in the long run. This study is the first application of the GVAR model to studying the export dynamics in the CSEE countries and therefore the results of the study present an important empirical contribution.

Keywords: export, GFEVD, global VAR, international trade, weak exogeneity

Procedia PDF Downloads 295

Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

Abstract:

This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

Procedia PDF Downloads 564

Authors: Saurabh Agarwal

Abstract:

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

Procedia PDF Downloads 362

Authors: Jonghyuk Yoon, Jongil Yoon, Seong-Gyo Chung

Abstract:

In many kinds of industries which usually need a large amount of power, an axial piston pump has been widely used as a main power source of a hydraulic system. The axial piston pump is a type of positive displacement pump that has several pistons in a circular array within a cylinder block. As the cylinder block and pistons start to rotate, since the exposed ends of the pistons are constrained to follow the surface of the swashed plate, the pistons are driven to reciprocate axially and then a hydraulic power is produced. In the present study, a numerical simulation which has three dimensional full model of the axial piston pump was carried out using a commercial CFD code (Ansys CFX 14.5). In order to take into consideration motion of compression and extension by the reciprocating pistons, the moving boundary conditions were applied as a function of the rotation angle to that region. In addition, this pump using hydraulic oil as working fluid is intentionally designed as a small amount of oil leaks out in order to lubricate moving parts. Since leakage could directly affect the pump efficiency, evaluation of effect of oil-leakage is very important. In order to predict the effect of the oil leakage on the pump efficiency, we considered the leakage between piston-shoe and swash-plate by modeling cylindrical shaped-feature at the end of the cylinder. In order to validate the numerical method used in this study, the numerical results of the flow rate at the discharge port are compared with the experimental data, and good agreement between them was shown. Using the validated numerical method, the effect of the discharge pressure was also investigated. The result of the present study can be useful information of small axial piston pump used in many different manufacturing industries. Acknowledgement: This research was financially supported by the “Next-generation construction machinery component specialization complex development program” through the Ministry of Trade, Industry and Energy (MOTIE) and Korea Institute for Advancement of Technology (KIAT).

Keywords: axial piston pump, CFD, discharge pressure, hydraulic system, moving boundary condition, oil leaks

Procedia PDF Downloads 242

Authors: Raya Morag

Abstract:

This paper proposes a new paradigm for cinema/trauma studies - the trauma of the perpetrator. Canonical trauma research from Freud’s Aetiology of Hysteria to the present has been carried out from the perspective of identification with the victim, as have cinema trauma research and contemporary humanities-based trauma studies, climaxing during the 1990s in widespread interest in the victim vis-à-vis the Holocaust, war, and domestic violence. Breaking over 100 years of repression of the abhorrent and rejected concept of the perpetrator in psychoanalytic-based research proposes an uncanny shift in our conception of psychoanalysis' trajectory from women's 'hysteria' to 'post-traumatic stress disorder'. This new paradigm is driven by the global emergence of new waves of films (2007-2015) representing trauma suffered by perpetrators involved in the new style of war entailing deliberate targeting of non-combatants. Analyzing prominent examples from Israeli post-second Intifada documentaries (e.g., Ari Folman’s Waltz with Bashir), and post post-Iraq (and Afghanistan) War American documentaries (e.g., Errol Morris' Standard Operating Procedure), the paper discusses the limitations of victim trauma by the firm boundaries it (rightly) set in order to defend such victims of nineteenth and especially twentieth-century catastrophes; the epistemological processes needed in order to consider perpetrators’ trauma as an inevitable part of psychiatric-psychological and cultural perspectives on trauma, and, thus, the definition of perpetrators' trauma in contrast to victims'. It also analyzes the perpetrator's figure in order to go beyond the limitation of current trauma theory's relation to the Real, thus transgressing the 'unspeakableness' of the trauma itself. The paper seeks an exploration of what perpetrator trauma teaches us not only as a counter-paradigm to victim trauma, but as a reflection on the complex intertwining of the two paradigms in the twenty-first century collective new war unconscious, and on what psychoanalysis might offer us in the first decade of this terrorized-ethnicized century.

Keywords: American war documentaries, Israeli war documentaries, 'new war', perpetrator trauma

Procedia PDF Downloads 286

Authors: Jerome Joshi

Abstract:

The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

Procedia PDF Downloads 71

Authors: Rihab Hentati, Younes Boujelbene

Abstract:

Nowadays we realize more and more than the value of a company is not only a function of its means of production but depends essentially on the managerial aptitude and orientation to implement the material and human means for generating profitability. Indeed, a productive R&D activity, a good strategy, and innovation are originally supplementary benefits that increase the value of the business. Is this ‘value-added’ closely linked to innovation? The purpose of our research is to Meta-analyze the results of 56 empirical studies in order to explain the overall effect of innovation on performance of small and medium-sized enterprises. In order to justify the differences in the results, we look for the moderating factors that may affect the innovation-performance relationship. We find a positive and significant relationship between innovation and performance in small and medium-sized enterprises. The results also note a positive relationship between entrepreneurial orientation, research and development (R&D), and performance in SMEs. In addition, innovation has a strong impact on performance measured both with accounting and market index. The originality of the article is based on a rigorous synthesis, based on several statistical tools, of an important subject of research in finance.

Keywords: innovation, performance, entrepreneurial orientation, meta-analysis, moderator variables

Procedia PDF Downloads 276

Authors: Tianyang Xu

Abstract:

Small underwater targets generally have a non-centrosymmetric geometry, and the acoustic scattering field of the target has spatial inhomogeneity under active sonar detection conditions. In view of the above problems, this paper takes the hemispherical cylindrical shell as the research object, and considers the angle continuity implied in the echo characteristics, and proposes a cluster-driven research method for the non-uniform characteristics of target echo angle. First, the target echo features are extracted, and feature vectors are constructed. Secondly, the t-SNE algorithm is used to improve the internal connection of the feature vector in the low-dimensional feature space and to construct the visual feature space. Finally, the implicit angular relationship between echo features is extracted under unsupervised condition by cluster analysis. The reconstruction results of the local geometric structure of the target corresponding to different categories show that the method can effectively divide the angle interval of the local structure of the target according to the natural acoustic scattering characteristics of the target.

Keywords: underwater target;, non-uniform characteristics;, cluster-driven method;, acoustic scattering characteristics

Procedia PDF Downloads 115

Authors: Hochan Seok, Woosik Jang, Seung-Heon Han

Abstract:

The stagnant global construction market has intensified competition since 2008 among firms that aim to win overseas contracts. Against this backdrop, subcontractor selection is identified as one of the most critical success factors in overseas construction project. However, it is difficult to select qualified subcontractors due to the lack of evaluation standards and reliability. This study aims to identify the problems associated with existing subcontractor evaluations using a correlations analysis and a multiple regression analysis with pre-qualification and performance evaluation of 121 firms in six countries.

Keywords: subcontractor evaluation system, pre-qualification, performance evaluation, correlation analysis, multiple regression analysis

Procedia PDF Downloads 357

Authors: Chinnawat Satsananan

Abstract:

The amount of heavy metals in our environment has been of great concern because of their toxicity when their concentration is more than the permissible level. These metals enter the environment by different ways such as industrial activities, soil pollution. We have used flame atomic absorption spectrometry technique for determination of the concentration of Co, Cd and Pb in different tissues of five samples of seafoods (mackerel, squid, mussels, scallops and shrimp). The concentrations of Co, Cd and Pb in all examined seafoods were less than the reported literature values (WHO). The results mentioned that the seafoods obtained from Thewet Market were safety to consumption and make the quality of life of people in the community look better.

Keywords: heavy metals, seafood, atomic absorption spectrometry, Bangkok

Procedia PDF Downloads 330

Authors: Hilda Kundai Chikwanda, Lawrence Thabo Mokhadi

Abstract:

The study aimed to review the factors that lead the freight railway suppliers base in South Africa (SA) to apply the Lean and Six Sigma (L&SS) methodologies. A thorough review of the factors that lead organisations, in the different industries, to implement these methodologies was done. L&SS applications were found to be prominent in the automotive industry. In particular, the railway industry in SA and the region were reviewed in terms of challenges in capturing the freight logistics market and growing market share. Qualitative methods have been used to collect primary data and descriptive statistics was used to calculate, describe, and summarize collected research data. The results show that external factors have a greater influence on the implementation of L&SS. The study drew inferences between freight railway supplier base and the application of Lean and Six Sigma (L&SS) methodologies in the SA context. It identified challenges that leads the SA freight railway to lose market share to road freight users. It further observes and recommends that L&SS methodologies are the ideal strategy required to implement a turnaround in the trajectory of freight railways as a competitive freight transport solution.

Keywords: production, methodology, manufacturing, lean, six sigma

Procedia PDF Downloads 38

Authors: Swasti Singh Ghai

Abstract:

Creativity is understood as an intersubjective phenomenon shaped by socio-cultural values and economic forces. Creativity as a means to achieve progress is a very modern concept, driven by a global capitalist market economy. The dominant urban, often first-world articulations of creativity, overshadow the rural, local and cultural notions of people in the developing nations. Artisanal practices of making grounded in preindustrial and pre-capitalist contexts hold varying cultural and region-specific concepts and standards for ascribing creativity to a person or product, or process. These notions reflect the underlying philosophy that constitutes their worldview. The process of colonization through western education has blurred or overlapped some of these key philosophical concepts. This article adopts a post-colonial stance to understand the perceptions of skill, intelligence and creativity among tradition rooted textile craft practitioners of Kutch, Gujarat in India. The artisans, while negotiating their space in the contemporary markets, are making efforts to include the modern categories of art, craft, and design in their worldview. The paper will first review theories of creativity that throw light on the link between skill, intelligence and creativity. Then the paper will use secondary research and data from interviews to share crafts person notions of skill, creativity and intelligence and their interrelationship.

Keywords: traditional craft, textile, creativity, skill, intelligence

Procedia PDF Downloads 119

Authors: Hamad Albadr

Abstract:

With the development that has occurred in the orientation of universities from liability cognitive and maintain the culture of the community to responsibility job formation graduates to work according to the needs of the community development; representing universities in today's world, the prime motivator for the wheel of development in the community and find appropriate solutions to the problems they are facing and adapt to the demands of the changing environment. In this paper review of the reality of engineering education in the Kingdom of Saudi Arabia and its suitability to the requirements of the labor market, where they will be looking at the university as a system administrator educational using System Analysis Approach as one of the methods of modern management to analyze the performance of organizations and institutions, administrative and quality assessment. According to this approach is to deal with the system as a set of subsystems as components of the main divided into : input, process, and outputs, and the surrounding environment, will also be used research descriptive method and analytical , to gather information, data and analysis answers of the study population that consisting of a random sample of the beneficiaries of these services that the universities provided that about 500 professionals about employment in the business sector.

Keywords: universities in Saudi Arabia, engineering education, labor market, administrative, quality assessment

Procedia PDF Downloads 334

Authors: Abolfazl Zaraki, Yoshikatsu Hayashi, Harry Thorpe, Vincent Strong, Gisle-Andre Larsen, William Holderbaum

Abstract:

Thanks to the high maneuverability of the cable-driven hyper-redundant manipulators (HRMs), this class of robots has shown a superior capability in highly confined and unstructured space applications. Although the large number of degrees of freedom (DOF) of HRMs enhances the motion flexibility and the robot’s reachability range, it highly increases the complexity of the kinematic configuration which makes the kinematic control problem very challenging or even impossible to solve. This paper presents our current progress achieved on the development of a kinematic-based leader-follower control system which is designed to control not only the robot’s body posture but also to control the trajectory of the robot’s movement in a semi-autonomous manner (the human operator is retained in the robot’s control loop). To obtain the forward kinematic model, the coordinate frames are established by the classical Denavit–Hartenburg (D-H) convention for a hyper-redundant serial manipulator which has a controlled cables-driven mechanism. To solve the inverse kinematics of the robot, unlike the conventional methods, a leader-follower mechanism, based on the sequential inverse kinematic, is followed. Using this mechanism, the inverse kinematic problem is solved for all sequential joints starting from the head joint to the base joint of the robot. To verify the kinematic design and simulate the robot motion, the MATLAB robotic toolbox is used. The simulation result demonstrated the promising capability of the proposed leader-follower control system in controlling the robot motion and trajectory in our confined space application.

Keywords: hyper-redundant robots, kinematic analysis, semi-autonomous control, serial manipulators

Procedia PDF Downloads 153