Search results for: price volatile

Authors: Obioma Uche

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Due to the recent volatility in oil & gas prices as well as increased development of non-conventional resources, it has become even more essential to critically evaluate the profitability of petroleum prospects prior to making any investment decisions. Traditionally, simple Monte Carlo (MC) algorithms have been used to randomly sample probability distributions of economic and geological factors (e.g. price, OPEX, CAPEX, reserves, productive life, etc.) in order to obtain probability distributions for profitability metrics such as Net Present Value (NPV). In recent years, second-order MC algorithms have been shown to offer an advantage over simple MC techniques due to the added consideration of uncertainties associated with the probability distributions of the relevant variables. Here, a strategy for the application of the second-order MC technique to a case study is demonstrated to analyze its effectiveness as a tool for portfolio management.

Keywords: Monte Carlo algorithms, portfolio management, profitability, risk analysis

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Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara

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This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.

Keywords: corporate governance, stock price, performance, panel data analysis

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Authors: Olivia Garcia, Sandra Tullio-Pow

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The purpose of this study was to understand what design attributes make the most ideal (wearable and memorable) national soccer jersey. The research probed Canadian soccer enthusiasts to better understand their jersey-purchasing rationale. The research questions framing this study were: how do consumers feel about their jerseys? How do these feelings influence their choices? There has been limited research on soccer jerseys from a material culture perspective, and it is not inclusive of national soccer jerseys. The results of this study may be used for product developers and advertisers who are looking to better understand the consumer base for national soccer jersey design. A mixed methods approach informed the research. To begin, a content analysis of all the home jerseys from the 2018 World Cup was done. Information such as size range, main colour, fibre content, brand, collar details, availability, sleeve length, place of manufacturing, pattern, price, fabric as per company, neckline, availability on company website, jersey inspiration, and badge/crest details were noted. Following the content analysis, wardrobe interviews were conducted with six consumers/fans. Participants brought two or more jerseys to the interviews, where the jerseys acted as clothing probes to recount information. Interview questions were semi-structured and focused on the participants’ relationship with the sport, their personal background, who they cheered for, why they bought the jerseys, and fit preferences. The goal of the inquiry was to pull out information on how participants feel about their jerseys and why. Finally, an interview with an industry professional was done. This interview was semi-structured, focusing on basic questions regarding sportswear design, sales, the popularity of soccer, and the manufacturing and marketing process. The findings proved that national soccer jerseys are an integral part of material culture. Women liked more fitted jerseys, and men liked more comfortable jerseys. Jerseys should be made with a cooling, comfortable fabric and should always prevent peeling. The symbols on jerseys are there to convey a team’s history and are most typically placed on the left chest. Jerseys should always represent the flag and/or the country’s colours and should use designs that are both fashionable and innovative. Jersey design should always consider the opinions of the consumers to help influence the design process. Jerseys should always use concepts surrounding culture, as consumers feel connected to the jerseys that represent the culture and/or family they have grown up with. Jerseys should use a team’s history, as well as the nostalgia associated with the team, as consumers prefer jerseys that reflect important moments in soccer. Jerseys must also sit at a reasonable price point for consumers, with an experience to go along with the jersey purchase. In conclusion, national soccer jerseys are considered sites of attachment and memories and play an integral part in the study of material culture.

Keywords: Design, Fashion, Material Culture, Sport

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Authors: A. Hany A. Khater, G. M. Mostafa, M. R. Badawy

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The techno-economic analysis of the nuclear desalination is a very important tool that enables studying of the mutual effects between the nuclear power plant and the coupled desalination plant under different operating conditions, and hence investigating the feasibility of safe and economical production of potable water. For this purpose, a comprehensive model for both technical and economic performance evaluation of the nuclear desalination has been prepared. The developed model has the capability to be used in performing a parametric study for the performance measuring parameters of the nuclear desalination system. Also a sensitivity analysis of varying important factors such as interest/discount rate, power plant availability, fossil fuel prices, purchased electricity price, nuclear fuel cost, and specific base cost for both power and water plant has been conducted.

Keywords: uclear desalination, PWR, MED, MED-TVC, MSF, RO

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Authors: Daomao Yang, Qizhi Wang

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Monoterpenoids are mainly found in plant essential oils and they are ideal substrates for biotransformation into oxygen-containing derivatives with important commercial value due to their low price and simple structure. In this paper, eleven strains of endophytic fungi from Praxelis clematidea were used as test strains to conduct the whole cell biotransformation of the monoterpenoids: (+)-limonene, (-)-limonene and myrcene. The fungi were inoculated in 50 ml Sabouraud medium and incubated at 30 ℃ with the agitation of 150 r/min for 6 d, and then 0.5% (v/v) substrates were added into the medium and biotransformed for further 3 d. Afterwards the cultures were filtered, and extracted using equal volume of ethyl acetate. The metabolites were analyzed by GC-MS technique with NIST database. The Total Ion Chromatogram of the extractions from the eleven strains showed that the main product of (+)- and (-)-limonene biotransformation was limonene-1,2-diol, while it is limonene and linalool oxide for biotransformation of myrcene. This work will help screen the microorganisms to biotransform the monoterpenes.

Keywords: endophytic fungi, (+)–limonene, (-)–limonene, myrcene

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Authors: Rosyidah, Permata Wulandari

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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).

Keywords: abnormal return, abnormal volume, event study, index changes, sharia index

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Authors: Katja Ignatieva, Patrick Wong

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We investigated the dynamics of high frequency energy prices, including crude oil and electricity prices. The returns of underlying quantities are modelled using various parametric models such as stochastic framework with jumps and stochastic volatility (SVCJ) as well as non-parametric alternatives, which are purely data driven and do not require specification of the drift or the diffusion coefficient function. Using different statistical criteria, we investigate the performance of considered parametric and nonparametric models in their ability to forecast price series and volatilities. Our models incorporate possible seasonalities in the underlying dynamics and utilise advanced estimation techniques for the dynamics of energy prices.

Keywords: stochastic volatility, affine jump-diffusion models, high frequency data, model specification, markov chain monte carlo

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Authors: Maryam Enteshari, Kooshan Nayebzadeh, Abdorreza Mohammadi

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In this study, the oxidative stability of soybean oil under different storage temperatures (4 and 25˚C) and during 6-month shelf-life was investigated by various analytical methods and headspace-liquid phase microextraction (HS-LPME) coupled to gas chromatography-mass spectrometry (GC-MS). Oxidation changes were monitored by analytical parameters consisted of acid value (AV), peroxide value (PV), p-Anisidine value (p-AV), thiobarbituric acid value (TBA), fatty acids profile, iodine value (IV), and oxidative stability index (OSI). In addition, concentrations of hexanal and heptanal as secondary volatile oxidation compounds were determined by HS-LPME/GC-MS technique. Rate of oxidation in soybean oil which stored at 25˚C was so higher. The AV, p-AV, and TBA were gradually increased during 6 months while the amount of unsaturated fatty acids, IV, and OSI decreased. Other parameters included concentrations of both hexanal and heptanal, and PV exhibited increasing trend during primitive months of storage; then, at the end of third and fourth months a sudden decrement was understood for the concentrations of hexanal and heptanal and the amount of PV, simultaneously. The latter parameters increased again until the end of shelf-time. As a result, the temperature and time were effective factors in oxidative stability of soybean oil. Also intensive correlations were found for soybean oil at 4 ˚C between AV and TBA (r2=0.96), PV and p-AV (r2=0.9), IV and TBA (-r2=0.9), and for soybean oil stored at 4˚C between p-AV and TBA (r2=0.99).

Keywords: headspace-liquid phase microextraction, oxidation, shelf-life, soybean oil

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Authors: Miroslav Gutten, Daniel Korenciak, Milan Simko, Milan Chupac

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Ensure the reliable and correct function of transformers is the main essence of on-line non-destructive diagnostic tool, which allows the accurately track of the status parameters. Devices for on-line diagnostics are very costly. However, there are devices, whose price is relatively low and when used correctly, they can be executed a complex diagnostics. One of these devices is sensor HYDRAN M2, which is used to detect the moisture and gas content in the insulation oil. Using the sensor HYDRAN M2 in combination with temperature, load measurement, and physicochemical analysis can be made the economically inexpensive diagnostic system, which use is not restricted to distribution transformers. This system was tested in educational laboratory environment at measured oil transformer 22/0.4 kV. From the conclusions referred in article is possible to determine, which kind of fault was occurred in the transformer and how was an impact on the temperature, evolution of gases and water content.

Keywords: transformer, diagnostics, gas and moisture sensor, monitoring

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Authors: Anju Elizbath Peter, S. M. Shiva Nagendra, Indumathi M.Nambi

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The deliberate fires initiated by dump managers and human scavengers to reduce the volume of waste and recovery of valuable metals/materials are common at municipal solid waste (MSW) disposal sites in developed country. A large amount of toxic gases released due to this act is responsible for the deterioration of regional and local air quality, which causes visibility impairment and acute respiratory diseases. The present study was aimed at the characterization of MSW and emission characteristics of burning of MSW in the laboratory. MSW samples were collected directly from the one of the open dumpsite located in Chennai city. Solid waste sampling and laboratory analysis were carried out according to American Society of Testing and Materials (ASTM) standards. Results indicated the values of moisture content, volatile solids (VS) and calorific values of solid waste samples were 16.67%,8%,9.17MJ/kg, respectively. The elemental composition showed that the municipal solid waste contains 25.84% of carbon, 3.69% of hydrogen, 1.57% of nitrogen and 0.26% of sulphur. The calorific value of MSW was found to be 9.17 MJ/Kg which is sufficient to facilitate self-combustion of waste. The characterization of emissions from the burning of 1 kg of MSW in the test chamber showed a total of 90 mg/kg of PM10 and 243 mg/kg of PM2.5. The current research study results will be useful for municipal authorities to formulate guideline and policy structure regarding the MSW management to reduce the impact of air emissions at an open dump site.

Keywords: characterization, MSW, open burning, PM10, PM2.5

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Authors: M. Graus, K. Westhoff, X. Xu

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The climate change causes a change in all aspects of society. While the expansion of renewable energies proceeds, industry could not be convinced based on general studies about the potential of demand side management to reinforce smart grid considerations in their operational business. In this article, a procedure model for a case-specific data-driven decision support for industrial energy management based on a holistic data analytics approach is presented. The model is executed on the example of the strategic decision problem, to integrate the aspect of renewable energies into industrial energy management. This question is induced due to considerations of changing the electricity contract model from a standard rate to volatile energy prices corresponding to the energy spot market which is increasingly more affected by renewable energies. The procedure model corresponds to a data analytics process consisting on a data model, analysis, simulation and optimization step. This procedure will help to quantify the potentials of sustainable production concepts based on the data from a factory. The model is validated with data from a printer in analogy to a simple production machine. The overall goal is to establish smart grid principles for industry via the transformation from knowledge-driven to data-driven decisions within manufacturing companies.

Keywords: data analytics, green production, industrial energy management, optimization, renewable energies, simulation

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Authors: Peiyuan Guan, Tao Wan, Dewei Chu

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With the flash memory approaching its physical limit, the emerging resistive random-access memory (RRAM) has been considered as one of the most promising candidates for the next-generation non-volatile memory. One selector-one resistor configuration has shown the most promising way to resolve the crosstalk issue without affecting the scalability and high-density integration of the RRAM array. By comparison with other candidates of selectors (such as diodes and nonlinear devices), threshold switching selectors dominated by formation/spontaneous rupture of fragile conductive filaments have been proved to possess low voltages, high selectivity, and ultra-low current leakage. However, the flexibility and transparency of selectors are barely mentioned. Therefore, it is a matter of urgency to develop a selector with highly flexible and transparent properties to assist the application of RRAM for a diversity of memory devices. In this work, threshold switching selectors were designed using a facilely solution-processed fabrication on AgNWs@PDMS composite films, which show high flexibility, transparency and scratch resistance. As-fabricated threshold switching selectors also have revealed relatively high selectivity (~107), low operating voltages (Vth < 1 V) and good switching performance.

Keywords: flexible and transparent, resistive random-access memory, silver nanowires, threshold switching selector

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Authors: Anastasia Stamatiou, Melissa Obermeyer, Ludger J. Fischer, Philipp Schuetz, Jörg Worlitschek

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This study evaluates unbranched, saturated carboxylic esters with respect to their suitability to be used as storage media for latent heat storage applications. Important thermophysical properties are gathered both by means of literature research as well as by experimental measurements. Additionally, esters are critically evaluated against other common phase-change materials in terms of their environmental impact and their economic potential. The experimental investigations are performed for eleven selected ester samples with a focus on the determination of their melting temperature and their enthalpy of fusion using differential scanning calorimetry. Transient Hot Bridge was used to determine the thermal conductivity of the liquid samples while thermogravimetric analysis was employed for the evaluation of the 5% weight loss temperature as well as of the decomposition temperature of the non-volatile samples. Both experimental results and literature data reveal the high potential of esters as phase-change materials. Their good thermal and environmental properties as well as the possibility for production from natural sources (e.g. vegetable oils) render esters as very promising for future storage applications. A particularly high short term application potential of esters could lie in low temperature storage applications where the main alternative is using salt hydrates as phase-change material.

Keywords: esters, phase-change materials, thermal properties, latent heat storage

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Authors: Carlette Groome

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This paper examined the role of drama in the lives of four women. The researcher concluded that drama can be an avenue of healing and could be an effective means of social work intervention in the communities as well as female empowerment. The participants in the study were able to, through the dramatic process; re-write their life’s scripts by resolving paradoxes and conflicts related to the themes unearthed. The research conducted examined the role of drama in the lives of four women living in volatile communities in Jamaica, who were each exposed to violence in one, or multiple, forms. The women were trained by Sistren Theatre Collective in the use of drama for education (edutainment), and were actresses in Sistren's street theatre drama group. Using their own personal and collective experiences, they used drama to raise social consciousness at the community level, about violence and other issues affecting women. The study employed a narrative case study approach and was grounded in a constructivist paradigm. This paradigm was coupled with a basic interpretive qualitative method and the concept of the reflective practitioner provided the foundation for the analysis. Through individual conversations with the women, themes of abuse, resilience, self- esteem, and empowerment arose sharply. The women explored drama and understood it to be instrumental in healing different aspects of their lives. Also, through the dramatic process; they were able to re-write their life’s scripts by resolving paradoxes and conflicts related to the themes unearthed.

Keywords: women, drama, healing, community

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Authors: Mohd Kamil Vakil

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Air Pollution is caused by the introduction of chemicals in the biosphere. Primary pollutants on reaction with the components of the earth produce Secondary Pollutants like Smog. Ozone is the main ingredient of Smog. The ground level ozone is created by the chemical reactions between Nitrogen Oxides (NOx) and Volatile Organic Compounds (VOCs) in the presence of Sunlight. This ozone can enter inside and call as indoor ozone. The automobile emissions in both moving and idling conditions contribute to the indoor ozone formation. During engine ignition and shutdown, motor vehicles emit the ozone forming pollutants like NOx and VOCs, and the phenomena are called Cold Start and Hot-Soak respectively. Subjects like Chronic Obstructive Pulmonary Disease (COPD) and asthma associated with chronic respiratory diseases are susceptible to the harmful effects of Indoor Ozone. The most common cause of COPD other than smoking is the long-term contract with harmful pollutants like ground-level ozone. It is estimated by WHO that COPD will become the third leading cause of all deaths worldwide by 2030. In this paper, the cold-start and hot-soak vehicle emissions are studied in the context of accumulation of oxides of nitrogen at the outer walls of the building which may cause COPD. The titanium oxide coated building material is further discussed as an absorber of NOx when applied to the walls and roof.

Keywords: indoor air quality, cold start emission, hot-soak, ozone

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Authors: M. Khazam, M. Altawil, A. Eljabri

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Fluid properties in states near a vapor-liquid critical region are the most difficult to measure and to predict with EoS models. The principal model difficulty is that near-critical property variations do not follow the same mathematics as at conditions far away from the critical region. Libyan NC98 field in Sirte basin is a typical example of near critical fluid characterized by high initial condensate gas ratio (CGR) greater than 160 bbl/MMscf and maximum liquid drop-out of 25%. The objective of this paper is to model NC98 phase behavior with the proper selection of EoS parameters and also to model reservoir depletion versus gas cycling option using measured PVT data and EoS Models. The outcomes of our study revealed that, for accurate gas and condensate recovery forecast during depletion, the most important PVT data to match are the gas phase Z-factor and C7+ fraction as functions of pressure. Reasonable match, within -3% error, was achieved for ultimate condensate recovery at abandonment pressure of 1500 psia. The smooth transition from gas-condensate to volatile oil was fairly simulated by the tuned PR-EoS. The predicted GOC was approximately at 14,380 ftss. The optimum gas cycling scheme, in order to maximize condensate recovery, should not be performed at pressures less than 5700 psia. The contribution of condensate vaporization for such field is marginal, within 8% to 14%, compared to gas-gas miscible displacement. Therefore, it is always recommended, if gas recycle scheme to be considered for this field, to start it at the early stage of field development.

Keywords: EoS models, gas-condensate, gas cycling, near critical fluid

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Authors: Awadhesh Kishore

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One of the most unique characteristics of rabbit feeding behaviour is caecotrophy, which involves the excretion and immediate consumption of specific faeces known as soft faeces. Caecotrophy in rabbits is the instinctual behaviour of eating soft faeces; reduced caecotrophy decreases rabbit growth and lipid synthesis in the liver. Caecotroph ingestion is highest when rabbits are fed a diet high in indigestible fibre. The colon produces two types of waste: hard and soft pellets. The hard pellets are expelled, but the soft pellets are re-ingested by the rabbit directly upon being expelled from the anus by twisting itself around and sucking in those pellets as they emerge from the anus. The type of alfalfa hay in the feed of the rabbits does not affect volatile fatty acid concentration, the pattern of fermentation, or pH in the faeces. The cecal content and the soft faeces contain significant amounts of retinoids and carotenoids, while in the tissues (blood, liver, and kidney), these pigments do not occur in substantial amounts. Preventing caecotrophy reduced growth and altered lipid metabolism, depressing the development of new approaches for rabbit feeding and production. Relative abundance is depressed for genes related to metabolic pathways such as vitamin C and sugar metabolism, vitamin B2 metabolism, and bile secretion. The key microorganisms that regulate the rapid growth performance of rabbits may provide useful references for future research and the development of microecological preparations.

Keywords: caecocolonic microorganisms, caecotrophy, fasting caecotrophy, rabbits, soft pellets

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Authors: Chonlada Choovanichchanon

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This research paper was aimed to investigate a relationship between the customer service marketing mix and the level of customers’ satisfaction from purchasing goods and service from small business around campus, Suan Sunandha Rajabhat University, Bangkok, Thailand. Based on the survey of 200 customers who frequently purchased goods and service around campus, the level of satisfaction for each factor of marketing mix was reached. An accidental random sampling was applied by using questionnaire in collecting the data. The findings revealed that the means values can help to rank these variables from high to low mean as follows: 1) forms and system of service, 2) physical environment of service center, 3) service from staff and employee, 4) product quality and service, 5) market channel and distribution, 6) market price, and 7) market promotion and distribution.

Keywords: service marketing mix, satisfaction, small business, survey

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Authors: Yansong Gao, Damith C.Ranasinghe, Siad F. Al-Sarawi, Omid Kavehei, Derek Abbott

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Passive crossbar arrays is in principle the simplest functional electrical circuit, together with memristive device in cross-point, holding great promise in future high-density, non-volatile memories. However, the greatest problem of crossbar array is the sneak path current. In this paper, we investigate one type of memristive device with intrinsic rectification behavior to address the sneak path currents. Firstly, a SPICE behavior model written in Verilog-A language of the memristive device is presented to fit experimental data published in literature. Next, systematic performance simulations including read margin and power consumption of crossbar array, which uses the self-rectifying memristive device as storage element at cross-point, with respect to different crossbar sizes, interconnect resistance, ratio of HRS/LRS (High Resistance State/ Low Resistance State), rectification ratio and different read schemes are conducted. Subsequently, Trade-offs among reading margin, power consumption, and reading schemes are analyzed to provide guidelines for circuit design. Finally, performance comparison between the memristive device with/without intrinsic rectification behavior is given to show the worthiness of this intrinsic rectification behavior.

Keywords: memristive device, memristor, crossbar, RRAM, read margin, power consumption

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of thirty-six factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: cost, overrun, building construction projects, Jordan

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Authors: Jin Chuhao, Chen Xiang

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In recent years, due to the rapid development of Chinese urbanization, a great deal of rural population surge into urban to make a living. This fact causes the vicious circulation of rural development including sharp decrease of agricultural labor force in rural area, the obvious increase of rural land price, the shrinking of traditional agriculture and the bigger gap between Chinese urban and rural areas. With the improvement of living condition and ideological level of the Chinese people, the use and renewal of the traditional villages are gaining more and more attention, thus agricultural cultural and creative industries appears. Basing on the investigation of practical projects, this paper discusses how the agricultural cultural and creative industries promote the sustainable development of Chinese rural areas.

Keywords: sustainable design, Chinese rural areas, renewal, agricultural cultural and creative industries

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Authors: Bashir Muhammad

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The present research contains the definition of the internet, the inter-relationship between and globalization as well as the divergent views of scholars on internet net-work. Additionally, both the positive and the negative impacts of the internet on Muslim communities were elucidated. As an example, it is part of the positive effect that the internet constitutes a vital source of vast information and data acquisition in various academic sciences in general and Islamic Studies in particular. The most recent and current facts and scientific discoveries by specialists of various ramifications could be fund as fast as possible. Many other exciting points were also cited. And on the negative side of the internet, among many other points, it releases uncontrolled promiscuous pictures and sometimes misguiding information about Islam, which could gradually and easily destroy the sound moral up bring of our young Muslim generation and pollute their positive thinking and reasoning. Another problem is that, Muslims in most cases pertaining to internet services are passive consumers, having no power to control it and manipulate it for their welfare and well being. Due to that, they have to pay the price for that, directly or indirectly.

Keywords: internet, muslim, challenges, communities

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Authors: Krasimir Ivanov, Elitsa Kolentsova, Dimitar Dimitrov, Petya Petrova, Tatyana Tabakova

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This work studies the effect of chemical composition on the activity and selectivity of γ–alumina supported CuO/ MnO2/Cr2O3 catalysts toward deep oxidation of CO, dimethyl ether (DME) and methanol. The catalysts were prepared by impregnation of the support with an aqueous solution of copper nitrate, manganese nitrate and CrO3 under different conditions. Thermal, XRD and TPR analysis were performed. The catalytic measurements of single compounds oxidation were carried out on continuous flow equipment with a four-channel isothermal stainless steel reactor. Flow-line equipment with an adiabatic reactor for simultaneous oxidation of all compounds under the conditions that mimic closely the industrial ones was used. The reactant and product gases were analyzed by means of on-line gas chromatographs. On the basis of XRD analysis it can be concluded that the active component of the mixed Cu-Mn-Cr/γ–alumina catalysts consists of at least six compounds – CuO, Cr2O3, MnO2, Cu1.5Mn1.5O4, Cu1.5Cr1.5O4 and CuCr2O4, depending on the Cu/Mn/Cr molar ratio. Chemical composition strongly influences catalytic properties, this influence being quite variable with regards to the different processes. The rate of CO oxidation rapidly decrease with increasing of chromium content in the active component while for the DME was observed the reverse trend. It was concluded that the best compromise are the catalysts with Cu/(Mn + Cr) molar ratio 1:5 and Mn/Cr molar ratio from 1:3 to 1:4.

Keywords: Cu-Mn-Cr oxide catalysts, volatile organic compounds, deep oxidation, dimethyl ether (DME)

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Authors: Maíra O. Palm, Cintia Marangoni, Ozair Souza, Noeli Sellin

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Wastes from a vegetal extracts industry (cocoa, oak, Guarana and mate) were characterized by particle size, proximate and ultimate analysis, lignocellulosic fractions, high heating value, thermal analysis (Thermogravimetric analysis – TGA, and Differential thermal analysis - DTA) and energy density to evaluate their potential as biomass in the form of briquettes for power generation. All wastes presented adequate particle sizes to briquettes production. The wastes showed high moisture content, requiring previous drying for use as briquettes. Cocoa and oak wastes had the highest volatile matter contents with maximum mass loss at 310 ºC and 450 ºC, respectively. The solvents used in the aroma extraction process influenced in the moisture content of the wastes, which was higher for mate due to water has been used as solvent. All wastes showed an insignificant loss mass after 565 °C, hence resulting in low ash content. High carbon and hydrogen contents and low sulfur and nitrogen contents were observed ensuring a low generation of sulfur and nitrous oxides. Mate and cocoa exhibited the highest carbon and lignin content, and high heating value. The dried wastes had high heating value, from 17.1 MJ/kg to 20.8 MJ/kg. The results indicate the energy potential of wastes for use as fuel in power generation.

Keywords: agro-industrial waste, biomass, briquettes, combustion

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Authors: Thomas Chinwe Urama, Patrick Oseloka Ezepue, Peters Chimezie Nnanwa

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This paper investigates the universal financial dynamics in two dominant stock markets in Sub-Saharan Africa, through an in-depth analysis of the cross-correlation matrix of price returns in Nigerian Stock Market (NSM) and Johannesburg Stock Exchange (JSE), for the period 2009 to 2013. The strength of correlations between stocks is known to be higher in JSE than that of the NSM. Particularly important for modelling Nigerian derivatives in the future, the interactions of other stocks with the oil sector are weak, whereas the banking sector has strong positive interactions with the other sectors in the stock exchange. For the JSE, it is the oil sector and beverages that have greater sectorial correlations, instead of the banks which have the weaker correlation with other sectors in the stock exchange.

Keywords: random matrix theory, cross-correlations, emerging markets, option pricing, eigenvalues eigenvectors, inverse participation ratios and implied volatility

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Authors: Camila Lee Park, Mauro Fracarolli Nunes

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Understood as the preference for products and services that do not involve moral dilemmas, ethical consumption has been increasingly discussed by scholars, practitioners, and consumers. Among its diverse trends, the defense of animal rights and welfare seems to have gained particular momentum in past decades. Not surprisingly, companies, governments, ideologues, and virtually any institution or group interested in (re)shaping society invest in the building of narratives oriented to influence consumption behavior. The animal rights movement, for example, is devoted to the elimination of the use of animals in science, as well as of commercial animal agriculture and hunting activities. Although advances in ethical consumption may be observed in practice, it still seems more popular as rhetoric. Diverse scholars have addressed the disparities between self-professed ethical consumers and their actual purchase patterns, with differences being attributed to factors such as price sensitivity, lack of information, quality, cynicism, and limited availability. The gap is also linked to the 'consumer sovereignty myth', according to which consumers are only able to choose from a pre-determined range of choices made before products reach them. On the other hand, academics also debate ethical consumption behavior as more likely to occur when it assumes compliance with social norms. As sustainability becomes a permanent issue, customers may tend to adhere to ethical consumption, either because of an individual value or due to a social one. Regardless of these efforts, the actual value attributed to ethical businesses remains unclear. Likewise, the power of stakeholders’ initiatives to influence corporate strategies is dubious. In search to offer new perspectives on these matters, the present study concentrates on the following research questions: Do customers value products/companies that respect animal rights? If so, does such enhanced value convert into actions from the part of the companies? Broadly, we aim to understand if customers’ perception holds performative traits (i.e., are capable of either trigger or contribute to changes in organizational behaviour around the respect for animal rights). In addressing these issues, two preliminary behavioral vignette-based experiments were conducted, with the perspectives of 307 participants being assessed. Building on a case of the cosmetics industry, social, emotional, and functional values were hypothesized as directly impacting positive word-of-mouth, which, in turn, would carry direct effects on purchase intention. A first structural equation model was analyzed with the combined samples of studies I and II. Results suggest that emotional value strongly impacts both positive word-of-mouth and purchase intention. Data confirms initial expectations on customers valuing products and companies that comply with ethical postures concerning animals, especially if social-oriented practices are also present.

Keywords: animal rights, business ethics, emotional value, ethical consumption

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Authors: Aderet Pantierer, Shmuel Pantierer, Atif Saeed, Amir Elzawawy

Abstract:

In recent years, air travel has seen volatile growth. Due to this growth, the maximization of efficiency and space utilization has been a major issue for aircraft manufacturers. Elongation of the wingspan of aircraft has resulted in increased lift; and, thereby, efficiency. However, increasing the wingspan of aircraft has been detrimental to the manufacturing process and has led to airport congestion and required airport reconfiguration to accommodate the extended wingspans of aircraft. This project outlines differing wing configurations of a commercial aircraft and the effects on the aerodynamic loads produced. Multiple wing configurations are analyzed using Finite Element Models. These models are then validated by testing one wing configuration in a wind tunnel under laminar flow and turbulent flow conditions. The wing configurations to be tested include high and low wing aircraft, as well as various combinations of the two, including a unique model hereon referred to as an infinity wing. The infinity wing configuration consists of both a high and low wing, with the two wings connected by a vertical airfoil. This project seeks to determine if a wing configuration consisting of multiple airfoils produces more lift than the standard wing configurations and is able to provide a solution to manufacturing limitations as well as airport congestion. If the analysis confirms the hypothesis, a trade study will be performed to determine if and when an arrangement of multiple wings would be cost-effective.

Keywords: aerodynamics, aircraft design, aircraft efficiency, wing configuration, wing design

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Authors: Mihir Kothari, Heena Khan, Vivek Rathod

Abstract:

Assessment of binocular single vision field (BSVF) is traditionally done using a Goldmann perimeter. The measurement of BSVF is important for the management of incomitant strabismus, viz. orbital fractures, thyroid orbitopathy, oculomotor cranial nerve palsies, Duane syndrome etc. In this paper, we describe a new technique for measuring BSVF using a CROM device. Goldmann perimeter is very bulky and expensive (Euro 5000.00 or more) instrument which is 'almost' obsolete from the contemporary ophthalmology practice. Whereas, CROM can be easily made in the DIY (do it yourself) manner for the fraction of the price of the perimeter (only Euro 15.00). Moreover, CROM is useful for the accurate measurement of ocular torticollis vis. nystagmus, paralytic or incomitant squint etc, and it is highly portable.

Keywords: binocular single vision, perimetry, cervical rgen of motion, visual field, binocular single vision field

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Authors: Mostosi C., Stéphenne J., Kempeneers E.

Abstract:

Introduction: Refuellers from Brussels South Charleroi Airport (BSCA) expressed concerns about the risks involved in handling JET-A1 fuel. The HSE Manager of BSCA, in collaboration with the occupational physician and the industrial hygiene unit of the External Service of Occupational Medicine, decided to assess the toxicological exposure of these workers. Materials and methods: Two measurement methods were used. The first was to assay three types of metabolites in urine to highlight the exposure to xylenes, toluene, and benzene in aircraft fuels. Out of 32 refuellers in the department, 26 participated in the sampling, and 23 samples were exploited. The second method targeted the assessment of environmental exposure to certain potentially hazardous substances that refuellers are likely to breathe in work areas at the airport. It was decided to carry out two ambient air measurement campaigns, using static systems on the one hand and, on the other hand, using individual sensors worn by the refuellers at the level of the respiratory tract. Volatile organic compounds and diesel particles were analyzed. Results: Despite the fears that motivated these analyzes, the overall results showed low levels of exposure, far below the existing limit values, both in air quality and in urinary measurements. Conclusion: These results are comparable to a study carried out in several French airports. The staff could be reassured, and then the medical surveillance was modified by the occupational physician. With the aviation development at BSCA, equipment and methods are evolving. Their exposure will have to be reassessed.

Keywords: refuelling, airport, exposure, fuel, occupational health, air quality

Procedia PDF Downloads 72

Authors: Eleftheria Barouni, Theano Petsi, Argyro Bekatorou, Dionysos Kolliopoulos, Dimitrios Vasileiou, Panayiotis Panas, Maria Kanellaki, Athanasios A. Koutinas

Abstract:

The aim of the present work was the production and use of a composite filter (TC/starch), containing rennin enzyme, in continuous system and in successive fermentation batches (SFB) for milk coagulation in order to compare the operational stability of both systems and cheese production cost. Tubular cellulose (TC) was produced after removal of lignin from lignocellulosic biomass using several procedures, e.g. alkaline treatment [1] and starch gel was added for the reduction of TC tubes dimensions to micro- and nano- range[2]. Four immobilized biocatalysts were prepared using different ways of the enzyme entrapment. 1) TC/ rennin (rennin entrapped in the tubes of TC), 2) TC/SG-rennin (rennin entrapped in the tubes of the composite), 3) TC-SG/rennin (rennin entrapped into the layer of starch gel) and 4) TC/rennin- SG/rennin (rennin is entrapped both in the tubes of the TC and into the layer of starch gel). Firstly these immobilized biocatalysts were examined in ten SFB regarding the coagulation time and their activity All the above immobilized biocatalysts remained active and the coagulation time was ranged from 90 to 480, 120-480, 330-510, and 270-540 min for (1), (2), (3), and (4) respectively. The quality of the cheese was examined through the determination of volatile compounds by SPME GC/MS analysis. These results encouraged us to study a continuous coagulation system of milk. Even though the (1) immobilized biocatalyst gave lower coagulation time, we used the (2) immobilized biocatalyst in the continuous system. The results were promising.

Keywords: tubular cellulose, starch gel, composite biocatalyst, Rennin, milk coagulation

Procedia PDF Downloads 308