Search results for: film market

Authors: Ming Chian Yew, Ming Kun Yew, Lip Huat Saw, Tan Ching Ng, Rajkumar Durairaj, Jing Han Beh

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This paper analyzes the fire protection performance, char formation and heat release characteristics of the thin film intumescent coatings that incorporate waste eggshell (ES) as a nano bio-filler. In this study, the Bunsen burner and the fire propagation (BS 476: Part 6) tests of coatings were measured. Experiments on the samples were also tested to evaluate their fire behavior using a cone calorimeter according to ISO 5660-1 specifications. On exposure, the samples B, C and D had been certified to be Class 0 due to the fire propagation indexes of the samples were less than 12. Samples B and D showed a significant reduction in total heat rate (B=11.6 MJ/m² and D=12.0 MJ/m²) and uniform char structures with the addition of 3.30 wt.% and 2.75 wt.% ES nano bio-filler, respectively. As a result, ES nano bio-filler composition good to slow down the fire expanding and demonstrate better fire protection due to its positive synergistic effect with flame retardant ingredients on physical and chemical reactions in fire protection.

Keywords: cone calorimeter, eggshell, fire protection, heat release rate, intumescent coating

Procedia PDF Downloads 261

Authors: Sun-Ki Choi

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

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

Procedia PDF Downloads 107

Authors: Walailak Atthirawong

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

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

Procedia PDF Downloads 225

Authors: Li Lei, Jia Jidong

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

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

Procedia PDF Downloads 392

Authors: Peter Kus, Anna Ostroverkh, Yurii Yakovlev, Yevheniia Lobko, Roman Fiala, Ivan Khalakhan, Vladimir Matolin

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Hydrogen economy is a concept of low-emission society which harvests most of its energy from renewable sources (e.g., wind and solar) and in case of overproduction, electrochemically turns the excess amount into hydrogen, which serves as an energy carrier. Proton exchange membrane water electrolyzers (PEMWE) are the backbone of this concept. By fast-response electricity to hydrogen conversion, the PEMWEs will not only stabilize the electrical grid but also provide high-purity hydrogen for variety of fuel cell powered devices, ranging from consumer electronics to vehicles. Wider commercialization of PEMWE technology is however hindered by high prices of noble metals which are necessary for catalyzing the redox reactions within the cell. Namely, platinum for hydrogen evolution reaction (HER), running on cathode, and iridium for oxygen evolution reaction (OER) on anode. Possible way of how to lower the loading of Pt and Ir is by using conductive high-surface nanostructures as catalyst supports in conjunction with thin-film catalyst deposition. The presented study discusses unconventional technique of membrane electron assembly (MEA) preparation. Noble metal catalysts (Pt and Ir) were magnetron sputtered in very low loadings onto the surface of porous sublayers (located on gas diffusion layer or directly on membrane), forming so to say localized three-phase boundary. Ultrasonically sprayed corrosion resistant TiC-based sublayer was used as a support material on anode, whereas magnetron sputtered nanostructured etched nitrogenated carbon (CNx) served the same role on cathode. By using this configuration, we were able to significantly decrease the amount of noble metals (to thickness of just tens of nanometers), while keeping the performance comparable to that of average state-of-the-art catalysts. Complex characterization of prepared supported catalysts includes in-cell performance and durability tests, electrochemical impedance spectroscopy (EIS) as well as scanning electron microscopy (SEM) imaging and X-ray photoelectron spectroscopy (XPS) analysis. Our research proves that magnetron sputtering is a suitable method for thin-film deposition of electrocatalysts. Tested set-up of thin-film supported anode and cathode catalysts with combined loading of just 120 ug.cm⁻² yields remarkable values of specific current. Described approach of thin-film low-loading catalyst deposition might be relevant when noble metal reduction is the topmost priority.

Keywords: hydrogen economy, low-loading catalyst, magnetron sputtering, proton exchange membrane water electrolyzer

Procedia PDF Downloads 154

Authors: Dimitrios Tzilopoulos, Panagiotis Symeonidis, Michael Loufakis, Dimosthenis Ioannidis, Dimitrios Tzovaras

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The domestic film industry in Greece has traditionally relied heavily on state support. While film productions are crucial for the country's economy, it has not fully capitalized on attracting and promoting foreign productions. The lack of motivation, organized state support for attraction and licensing, and the absence of location scouting have hindered its potential. Although recent legislative changes have addressed the first two of these issues, the development of a comprehensive location database and a search engine that would effectively support location scouting at the pre-production location scouting is still in its early stages. In addition to the expected benefits of the film, television, marketing, and multimedia industries, a location-scouting service platform has the potential to yield significant financial gains locally and nationally. By promoting featured places like cultural and archaeological sites, natural monuments, and attraction points for visitors, it plays a vital role in both cultural promotion and facilitating tourism development. This study introduces LOCATION3, an internet platform revolutionizing film production location management. It interconnects location providers, film crews, and multimedia stakeholders, offering a comprehensive environment for seamless collaboration. The platform's central geodatabase (PostgreSQL) stores each location’s attributes, while web technologies like HTML, JavaScript, CSS, React.js, and Redux power the user-friendly interface. Advanced functionalities, utilizing deep learning models, developed in Python, are integrated via Node.js. Visual data presentation is achieved using the JS Leaflet library, delivering an interactive map experience. LOCATION3 sets a new standard, offering a range of essential features to enhance the management of film production locations. Firstly, it empowers users to effortlessly upload audiovisual material enriched with geospatial and temporal data, such as location coordinates, photographs, videos, 360-degree panoramas, and 3D location models. With the help of cutting-edge deep learning algorithms, the application automatically tags these materials, while users can also manually tag them. Moreover, the application allows users to record locations directly through its user-friendly mobile application. Users can then embark on seamless location searches, employing spatial or descriptive criteria. This intelligent search functionality considers a combination of relevant tags, dominant colors, architectural characteristics, emotional associations, and unique location traits. One of the application's standout features is the ability to explore locations by their visual similarity to other materials, facilitated by a reverse image search. Also, the interactive map serves as both a dynamic display for locations and a versatile filter, adapting to the user's preferences and effortlessly enhancing location searches. To further streamline the process, the application facilitates the creation of location lightboxes, enabling users to efficiently organize and share their content via email. Going above and beyond location management, the platform also provides invaluable liaison, matchmaking, and online marketplace services. This powerful functionality bridges the gap between visual and three-dimensional geospatial material providers, local agencies, film companies, production companies, etc. so that those interested in a specific location can access additional material beyond what is stored on the platform, as well as access production services supporting the functioning and completion of productions in a location (equipment provision, transportation, catering, accommodation, etc.).

Keywords: deep learning models, film industry, geospatial data management, location scouting

Procedia PDF Downloads 58

Authors: Shokooh Moghadam, Mohammad Taghi Khorasani, Sajjad Seifi Mofarah, M. Daliri

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Through the recent two decades, the use of magnetic-property materials with the aim of target cell’s separation and eventually cancer treatment has incredibly increased. Numerous factors can alter the efficacy of this method on curing. In this project, the effect of magnetic field on adhesion of PDL and L929 cells on nanocomposite of iron oxide/PHB with different density of iron oxides (1%, 2.5%, 5%) has been studied. The nanocamposite mentioned includes a polymeric film of poly hydroxyl butyrate and γ-Fe2O3 particles with the average size of 25 nanometer dispersed in it and during this process, poly vinyl alcohol with 98% hydrolyzed and 78000 molecular weight was used as an emulsion to achieve uniform distribution. In order to get the homogenous film, the solution of PHB and iron oxide nanoparticles were put in a dry freezer and in liquid nitrogen, which resulted in a uniform porous scaffold and for removing porosities a 100◦C press was used. After the synthesis of a desirable nanocomposite film, many different tests were performed, First, the particles size and their distribution in the film were evaluated by transmission electron microscopy (TEM) and even FTIR analysis and DMTA test were run in order to observe and accredit the chemical connections and mechanical properties of nanocomposites respectively. By comparing the graphs of case and control samples, it was established that adding nano particles caused an increase in crystallization temperature and the more density of γ-Fe2O3 lead to more Tg (glass temperature). Furthermore, its dispersion range and dumping property of samples were raised up. Moreover, the toxicity, morphologic changes and adhesion of fibroblast and cancer cells were evaluated by a variety of tests. All samples were grown in different density and in contact with cells for 24 and 48 hours within the magnetic fields of 2×10^-3 Tesla. After 48 hours, the samples were photographed with an optic and SEM and no sign of toxicity was traced. The number of cancer cells in the case of sample group was fairly more than the control group. However, there are many gaps and unclear aspects to use magnetic field and their effects in cancer and all diseases treatments yet to be discovered, not to neglect that there have been prominent step on this way in these recent years and we hope this project can be at least a minimum movement in this issue.

Keywords: nanocomposite, cell attachment, magnetic field, cytotoxicity

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Authors: M. Al Nur, M. S. Kaiser

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Corrosion behaviour of hypereutectic Al-19Si automotive alloy in different pH=1, 3, 5, 7, 9, 11, and 13 environments was carried out using conventional gravimetric measurements and was complemented by resistivity, optical micrograph, scanning electron microscopy (SEM) and X-ray analyzer (EDX) investigations. Gravimetric analysis confirmed that the highest corrosion rate is shown at pH 13 followed by pH 1. Minimum corrosion occurs in the pH range of 3.0 to 11 due to establishment of passive layer on the surface. The highest corrosion rate at pH 13 is due to the presence of sodium hydroxide in the solution which dissolves the surface oxide film at a steady rate. At pH 1, it can be attributed that the presence of aggressive chloride ions serves to pick up the damage of the passive films at localized regions. With varying exposure periods by both, the environment complies with the normal corrosion rate profile that is an initial steep rise followed by a nearly constant value of corrosion rate. Resistivity increases in case of pH 1 solution for the higher pit formation and decreases at pH 13 due to formation of thin film. The SEM image of corroded samples immersed in pH 1 solution clearly shows pores on the surface and in pH 13 solution, and the corrosion layer seems more compact and homogenous and not porous.

Keywords: Al-Si alloy, corrosion, pH, resistivity, scanning electron microscopy (SEM)

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Authors: Oluchukwu P. Obioma, Amarachi R. Dike

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Competition law promotes market competition by regulating anti-competitive conduct by undertakings. There is a need for a third party to regulate the market for efficiency and supervision, since, if the market is left unchecked, it may be skewed against the consumers and the economy. Competition law is geared towards the protection of consumers from economic exploitation. It is the duty of every rational government to optimally manage its economic system by employing the best regulatory practices over the market to ensure it functions effectively and efficiently. The Nigerian government has done this by enacting the Federal Competition and Consumer Protection Act, 2018 (FCCPA). This is a comprehensive legal framework with the objective of governing competition issues in Nigeria. Prior to its enactment, the competition law regime in Nigeria was grossly inadequate despite Nigeria being the biggest economy in Africa. This latest legislation has become a bold step in the right direction. This study will use the doctrinal methodology in analyzing the FCCPA, 2018 in order to discover the extent to which the Act will guard against anti-competitive practices and promote competitive markets for the benefit of the Nigerian economy and consumers. The study finds that although the FCCPA, 2018 provides for the regulation of competition in Nigeria, there is a need to effectively tackle the challenges to the implementation of the Act and the development of anti-trust jurisprudence in Nigeria. This study concludes that incisive implementation of competition law in Nigeria will help protect consumers and create a conducive environment for economic growth, development, and protection of consumers from obnoxious competition practices.

Keywords: anti-competitive practices, competition law, competition regulation, consumer protection.

Procedia PDF Downloads 166

Authors: Sorin Oancea

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More than half a century after Ivan Sutherland’s seminal essay, ‘The Ultimate Display’ (1965), 3D Virtual Reality is still an emergent and exploratory medium in terms of its narrative potential, production methodology, and market penetration. Traditionally positioned in front of the screen/canvas as a ‘window-on-the-world’, the storyboarder and animation director transcend the medium and its narrative reality entirely while designing a linear cinematic sequence. This paper proposes a gradual transition from the traditional linear sequence design process based on a transcendent position of the storyboarder and animation director to an increasingly immersed one characterized by a sense of unmediated presence and immanence. Employing a quaitative analysis of the current exploratory storyboarding processes for 3D VR, this research uses a practice-based methodology based on producing a short-form 3D VR narrative experience to derive its findings. The original contribution to knowledge is charting an empirically derived conceptual framework for VR storyboarding and animation directing, with the documented reflective and reflexive process as a map for directorial transitioning between converging mediums by articulating the new VR lexical categories and expounding links to allied performative arts, such as film and theatre.

Keywords: storyboarding, immersive, virtual reality, transitioning

Procedia PDF Downloads 90

Authors: Farangiz Davranbekova

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Subject: The study explores the impact of Over-the-Top services in the sports rights market, focusing on football games. This impact is analysed in the big five European football markets. The research entails how the pay-TV market is combating the disruptors' entry, how the fans are adjusting to these changes and how leagues and football clubs are orienting in the transitional period of more choice. Aims and methods: The research aims to offer a general overview of the impact of OTT players in the football rights market. A theoretical framework of Jenkins’ five layers of convergence is implemented to analyse the transition the sports rights market is witnessing from various angles. The empirical analysis consists of secondary research data as and seven expert interviews from three different clusters. The findings are bound by the combination of the two methods offering general statements. Findings: The combined secondary data as well as expert interviews, conducted on five layers of convergence found: 1. Technological convergence presents that football content is accessible through various devices with innovative digital features, unlike the traditional TV set box. 2. Social convergence demonstrates that football fans multitask using various devices on social media when watching the games. These activities are complementary to traditional TV viewing. 3. Cultural convergence points that football fans have a new layer of fan engagement with leagues, clubs and other fans using social media. Additionally, production and consumption lines are blurred. 4. Economic convergence finds that content distribution is diversifying and/or eroding. Consumers now have more choices, albeit this can be harmful to them. Entry barriers are decreased, and bigger clubs feel more powerful. 5. Global convergence shows that football fans are engaging with not only local fans but with fans around the world that social media sites enable. Recommendation: A study on smaller markets such as Belgium or the Netherlands would benefit the study on the impact of OTT. Additionally, examination of other sports will shed light on this matter. Lastly, once the direct-to-consumer model is fully taken off in Europe, it will be of importance to examine the impact of such transformation in the market.

Keywords: sports rights, OTT, pay TV, football

Procedia PDF Downloads 145

Authors: Parsa Naji

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Following the Iran Islamic Revolution in 1979 and the subsequent formation of a theocratic regime, the new regime implemented stringent regulations and a complicated censorship system in the film industry. Thereupon, the screening of films showing the relationships between males and females encountered numerous limitations. Not only did these limits encompass the physical portrayal of the relationship between males and females, but also the dialogues containing explicit sexual or even passionate romantic themes, resulting in a film being permanently consigned to archival storage. However, despite these limitations, Iranian filmmakers persevered in creating their interesting cinematic works. Throughout the years after the revolution, Iranian directors have navigated a series of challenges and obstacles, employing innovative and unconventional methods to bypass the rigorous censorship system imposed by the government, ensuring the screening of their films. This study aims to analyze the creative approaches employed by Iranian filmmakers to circumvent governmental censorship regulations.

Keywords: censorship, Iranian cinema, Islamic revolution, male-female relationship

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Authors: M. Gregušová, V. Schindlerová, I. Šajdlerová, P. Mohyla, J. Kedroň

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Company managers are always looking for more and more opportunities to succeed in today's fiercely competitive market. Maintain your place among the successful companies on the market today or come up with a revolutionary business idea; it is much more difficult than before. Each new or improved method, tools, or the approach that can improve the functioning of business processes or even 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 to find the optimal parameters of manufacturing processes and systems. The paper presents an example of using simulation to solve the bottleneck problem in concrete company.

Keywords: practical applications, business processes, systems, simulation

Procedia PDF Downloads 628

Authors: S. Mahdavi, S.R. Allahkaram

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Electrodeposition is a simple and economic technique for precision coating of different shaped substrates with pure metal, alloy or composite films. Dc electrodeposition was used to produce Cr, Co-Cr and Co-Cr/TiO2 nano-composite coatings from Cr(III) based electrolytes onto 316L SS substrates. The effects of TiO2 nano-particles concentration on co-deposition of these particles along with Cr content and microhardness of the coatings were investigated. Morphology of the Cr, Co-Cr and Co-Cr/TiO2 coatings besides their tribological behavior were studied. The results showed that increment of TiO2 nano-particles concentration from 0 to 30 g L-1 in the bath increased their co-deposition and Cr content of the coatings from 0 to 3.5 wt.% and from 23.7 to 31.2 wt.%, respectively. Microhardness of Cr coating was about 920 Hv which was higher than Co-Cr and even Co-Cr/TiO2 films. Microhardness of Co-Cr and Co-Cr/TiO2 coatings were improved by increasing their Cr and TiO2 content. All the coatings had nodular morphology and contained microcracks. Nodules sizes and the number of microcracks in the alloy and composite coatings were lower than the Cr film. Wear results revealed that the Co-Cr/TiO2 coating had the lowest wear loss between all the samples, while the Cr film had the worst wear resistance.

Keywords: Co-Cr alloy, electrodeposition, nano-composite, tribological behavior, trivalent chromium

Procedia PDF Downloads 477

Authors: Gregory D. Saxton

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Networks are everywhere: lunch ties among co-workers, golfing partnerships among employees, interlocking board-of-director connections, Facebook friendship ties, etc. Each network varies in terms of its structure -its size, how inter-connected network members are, and the prevalence of sub-groups and cliques. At the same time, within any given network, some network members will have a more important, more central position on account of their greater number of connections or their capacity as “bridges” connecting members of different network cliques. The logic of network structure and position is at the heart of what is known as social network analysis, and this paper applies this logic to the study of the stock market. Using an array of data analytics and machine learning tools, this study will examine 17 million Twitter messages discussing the stocks of the firms in the S&P 1,500 index in 2018. Each of these 1,500 stocks has a distinct Twitter discussion network that varies in terms of core network characteristics such as size, density, influence, norms and values, level of activity, and embedded resources. The study’s core proposition is that the ultimate effect of any market-relevant information is contingent on the characteristics of the network through which it flows. To test this proposition, this study operationalizes each of the core network characteristics and examines their influence on market reactions to 2018 quarterly earnings announcement events.

Keywords: data analytics, investor-to-investor communication, social network analysis, Twitter

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Authors: Kate Whitman, Zahra Murad, Joe Cox

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Digital piracy is costly to creative economies across the world. Anti-piracy messages can cause people to pirate more rather than less, suggesting the presence of psychological reactance. Gender differences in message reactance and the moderating impact of attitudes have not been explored. In this paper, we examine whether messages based on real-world anti-piracy campaigns cause reactance and whether this effect is explained by gender and attitudes. An experiment compares two threatening and one prosocial message against a control group, with changes in piracy intention from past behavior for digital TV/film analysed. The results suggest that the prosocial message is ineffective for both genders. However, the threatening messages have significantly opposing effects on men and women. One threatening message influences women to reduce their piracy intentions by over 50% and men to increase it by 18%. Gender effects are moderated by pre-existing attitudes, with men and women who report the most favorable attitudes towards piracy having the most polarised changes in piracy intentions. The results suggest that men and women process threatening messages differently and that the creative industries should take care when targeting their messages.

Keywords: piracy, reactance, persuasive-messages, TV/film, gender

Procedia PDF Downloads 80

Authors: Mahmood Mohammed Abdulsattar Aljumaili

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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.

Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market

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Authors: Rajesh Agarwal

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Carrier mobility at the organic/insulator interface is essential to the performance of organic thin film transistors (OTFT). The present work describes estimation of field dependent mobility (FDM) parameters and the threshold voltage of an OTFT using a simple, easy to fabricate two terminal asymmetric capacitive test structure using admittance measurements. Conventionally, transfer characteristics are used to estimate the threshold voltage in an OTFT with field independent mobility (FIDM). Yet, this technique breaks down to give accurate results for devices with high contact resistance and having field dependent mobility. In this work, a new technique is presented for characterization of long channel organic capacitor (LCOC). The proposed technique helps in the accurate estimation of mobility enhancement factor (γ), the threshold voltage (V_th) and band mobility (µ₀) using capacitance-voltage (C-V) measurement in OTFT. This technique also helps to get rid of making short channel OTFT or metal-insulator-metal (MIM) structures for making C-V measurements. To understand the behavior of devices and ease of analysis, transmission line compact model is developed. The 2-D numerical simulation was carried out to illustrate the correctness of the model. Results show that proposed technique estimates device parameters accurately even in the presence of contact resistance and field dependent mobility. Pentacene/Poly (4-vinyl phenol) based top contact bottom-gate OTFT’s are fabricated to illustrate the operation and advantages of the proposed technique. Small signal of frequency varying from 1 kHz to 5 kHz and gate potential ranging from +40 V to -40 V have been applied to the devices for measurement.

Keywords: capacitance, mobility, organic, thin film transistor

Procedia PDF Downloads 154

Authors: Ratna Kuswardani

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This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

Procedia PDF Downloads 122

Authors: A. O. Ogunkeyede, D. Amuchi, A. A. Adebayo

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Heavy metal contaminations in soil have received great attention. Anthropogenic activities such as vehicular emission, industrial activities and constructions have resulted in elevated concentration of heavy metals in the surface soils. The metal particles can be free from the surface soil when they are disturbed and re-entrained in air, which necessitated the need to investigate surface soil at market environment where adults and children are present on daily basis. This study assesses concentration of heavy metal pollution, ecological and health risk factors in surface soil at Effurun market. 8 samples were collected at household material (EMH), fish (EMFs), fish and commodities (EMF-C), Abattoir (EMA 1 & 2), fruit sections (EMF 1 & 2) and lastly main road (EMMR). The samples were digested and analyzed in triplicate for contents of Lead (Pb), Nickel (Ni), Cadmium (Cd) and Copper (Cu). The mean concentration of the Pb mg/kg (112.27 ± 1.12) and Cu mg/kg (156.14 ± 1.10) were highest in the abattoir section (EMA 1). The mean concentrations of the heavy metal were then used to calculate the ecological and health risk for people within the market. Pb contamination at EMMR, EMF 2, EMFs were moderately while Pb shows considerable contamination at EMH, EMA 1, EMA 2 and EMF-C sections of the Effurun market. The ecological risk factor varies between low to moderate pollution for Pb and EMA 1 has the highest potential ecological risk that falls within moderate pollution. The hazard quotient results show that dermal exposure pathway is the possible means of heavy metal exposure to the traders while ingestion is the least sources of exposure to adult. The ingestion suggested that children around the EMA 1 have the highest possible exposure to children due to hand-to-mouth and object-to-mouth behaviour. The results further show that adults at the EMA1 will have the highest exposure to Pb due to inhalation during burning of cow with tyre that contained Pb and Cu. The carcinogenic risk values of most sections were higher than acceptable values, while Ni at EMMR, EMF 1 & 2, EMFs and EMF-C sections that were below the acceptable values. The cancer risk for inhalation exposure pathway for Pb (1.01E+17) shows a significant level of contamination than all the other sections of the market. It suggested that the people working at the Abattoir were very prone to cancer risk.

Keywords: carcinogenic, ecological, heavy metal, risk

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Authors: Abdessalem Abbassi, Ahlem Dakhlaoui, Lota D. Tamini

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In this paper, we analyze infinite discrete-time games between hydraulic and thermal power operators in the wholesale electricity market under Cournot competition. We consider a deregulated electrical industry where certain demand is satisfied by hydraulic and thermal technologies. The hydraulic operator decides the production in each season of each period that maximizes the sum of expected profits from power generation with respect to the stochastic dynamic constraint on the water stored in the dam, the environmental constraint and the non-negative output constraint. In contrast, the thermal plant is operated with quadratic cost function, with respect to the capacity production constraint and the non-negativity output constraint. We show that under imperfect competition, the hydraulic operator has a strategic storage of water in the peak season. Then, we quantify the strategic inter-annual and intra-annual water transfer and compare the numerical results. Finally, we show that the thermal operator can restrict the hydraulic output without compensation.

Keywords: asymmetric risk aversion, electricity wholesale market, hydropower dams, imperfect competition

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Authors: Silvia Rocha, Flavio Tiago, Maria Teresa Tiago, Sandra Faria, Joao Couto

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The Azores have a tourist potential that has been developing, especially after an increase in promotion and the liberalization of airspace. However, there is still a gap with regard to the understanding of tourists from North America. Previous studies referred to the existence of two basic types of touristic flows: Emigrants and locals. Looking to help fill this gap, a study of travelers from North America was conducted. Using cluster analysis, it was determined the existence of three segments: nostalgic, regular and frequent. The recognition of these three segments is important to determine the necessary adjustments in tourist offerings to this market.

Keywords: tourism, diaspora, nostalgia, culture

Procedia PDF Downloads 177

Authors: Holly Sandberg, Christina McCoy, Khaled Mansy

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Eucalyptus Cloeziana, commonly known as Gympie Messmate, is a fast-growing hardwood native to Australia. Its quick growth makes it advantageous for carbon sequestering, while its strength class lends itself to structural applications. Market research shows that the demand for timber is growing, especially mass timber. An environmental product declaration, or EPD, for eucalyptus Cloeziana in the Australian market has been evaluated and compared to the EPD’s of steel and Douglas fir of the same region. An EPD follows a product throughout its life cycle, stating values for global warming potential, ozone depletion potential, acidification potential, eutrophication potential, photochemical ozone creation potential, and abiotic depletion potential. This paper highlights the market potential, as well as the environmental benefits and challenges to using Gympie Messmate as a structural building material. In addition, a case study is performed to compare steel, Douglas fir, and eucalyptus in terms of embodied carbon and structural weight within a single structural bay. Comparisons among the three materials highlight both the differences in structural capabilities as well as environmental impact.

Keywords: eucalyptus, timber, construction, structural, material

Procedia PDF Downloads 171

Authors: Van Chung Nguyen

Abstract:

The purpose of this study is to study the current status of the value chain for fish distribution at Quang Binh Fishing Port with 360 research samples in which the research subjects are fishermen, traders, retailers, and businesses. The research uses the approach of applying the value chain theoretical framework of Kaplinsky and Morris to quantify and describe market channels and actors participating in the value chain and analyze the value-added process of these companies according to market channels. The analysis results show that fishermen directly catch fish with high economic efficiency, but processing enterprises and, especially retailers, are the agents to obtain higher added value. Processing enterprises play a role that is not really clear due to outdated processing technology; in contrast, retailers have the highest added value. This shows that the added value of the fish supply chain at Quang Binh fishing port is still limited, leading to low output quality. Therefore, the selling price of fish to the market is still high compared to the abundant fish resources, leading to low consumption and limiting exports due to the quality of processing enterprises. This reduces demand and fishing capacity, and productivity is lower than potential. To improve the fish value chain at fishing ports, it is necessary to focus on improving product quality, strengthening linkages between actors, building brands and product consumption markets at the same time, improving the capacity of export processing enterprises.

Keywords: Quang Binh fishing port, value chain, market, distributions channel

Procedia PDF Downloads 59

Authors: Marco Tulio C. Faria

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Fixed-geometry hydrodynamic journal bearings are one of the best supporting systems for several applications of rotating machinery. Cylindrical journal bearings present excellent load-carrying capacity and low manufacturing costs, but they are subjected to the oil-film instability at high speeds. An attempt of overcoming this instability problem has been the development of non-circular journal bearings. This work deals with an analysis of oil-lubricated elliptical journal bearings using the finite element method. Steady-state and dynamic performance characteristics of elliptical bearings are rendered by zeroth- and first-order lubrication equations obtained through a linearized perturbation method applied on the classical Reynolds equation. Four-node isoparametric rectangular finite elements are employed to model the bearing thin film flow. Curves of elliptical bearing load capacity and dynamic force coefficients are rendered at several operating conditions. The results presented in this work demonstrate the influence of the bearing ellipticity on its performance at different loading conditions.

Keywords: elliptical journal bearings, non-circular journal bearings, hydrodynamic bearings, finite element method

Procedia PDF Downloads 439

Authors: Azar Baghtaghi

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Financial risk management is critically important as it enables companies to maintain stability and profitability amidst market fluctuations and unexpected events. It involves the precise identification of risks that could impact investments, assets, and potential revenues. By implementing effective risk management strategies, companies can insure themselves against adverse market changes and prevent potential losses. In today's era, where markets are highly complex and influenced by various factors such as macroeconomic policies, exchange rate fluctuations, and natural disasters, the need for meticulous planning to cope with these uncertainties is more pronounced. Ultimately, financial risk management means being prepared for the future and the ability to sustain business in changing environments. A company capable of managing its risks not only achieves sustainable profitability but also gains the confidence of shareholders, investors, and business partners, enhancing its competitive position in the market. In this article, the types of financial risk and risk management strategies for improving financial performance were investigated. By identifying the risks stated in this article and their evaluation techniques, it is possible to improve the organization's financial performance.

Keywords: strategy, risk, risk management, financial performance

Procedia PDF Downloads 11

Authors: Ching-I Chen

Abstract:

The continued rise of e-commerce is the main driver of the rapid growth of global online purchase. Consumers can nearly buy everything they want at one occasion through online shopping. The purchase behavior models which focus on single product category are insufficient to describe online shopping behavior. Therefore, analysis of multi-category purchase gets more and more popular. For example, market basket analysis explores customers’ buying tendency of the association between product categories. The information derived from market basket analysis facilitates to make cross-selling strategies and product recommendation system. To detect the association between different product categories, we use the market basket analysis with the multidimensional scaling technique to build an associated map which describes how likely multiple product categories are bought at the same time. Besides, we also build an inter-purchase time model for associated products to describe how likely a product will be bought after its associated product is bought. We classify inter-purchase time behaviors of multi-category products into nine types, and use a mixture regression model to integrate those behaviors under our assumptions of purchase sequences. Our sample data is from comScore which provides a panelist-label database that captures detailed browsing and buying behavior of internet users across the United States. Finding the inter-purchase time from books to movie is shorter than the inter-purchase time from movies to books. According to the model analysis and empirical results, this research finally proposes the applications and recommendations in the management.

Keywords: multiple-category purchase behavior, inter-purchase time, market basket analysis, e-commerce

Procedia PDF Downloads 356

Authors: Mia Françoise

Abstract:

This report aims to develop a strategy for assisting short-term investors to benefit from the current economic climate in South Africa by utilizing technical analysis techniques and predictive analytics. As part of this research, value investing and technical analysis principles will be combined to maximize returns for South African investors while optimizing volatility. As an emerging market, South Africa offers many opportunities for high growth in sectors where other developed countries cannot grow at the same rate. Investing in South African companies with significant growth potential can be extremely rewarding. Although the risk involved is more significant in countries with less developed markets and infrastructure, there is more room for growth in these countries. According to recent research, the offshore market is expected to outperform the local market over the long term; however, short-term investments in the local market will likely be more profitable, as the Johannesburg Stock Exchange is predicted to outperform the S&P500 over the short term. The instabilities in the economy contribute to increased market volatility, which can benefit investors if appropriately utilized. Price prediction and portfolio optimization comprise the two primary components of this methodology. As part of this process, statistics and other predictive modeling techniques will be used to predict the future performance of stocks listed on the Johannesburg Stock Exchange. Following predictive data analysis, Modern Portfolio Theory, based on Markowitz's Mean-Variance Theorem, will be applied to optimize the allocation of assets within an investment portfolio. By combining different assets within an investment portfolio, this optimization method produces a portfolio with an optimal ratio of expected risk to expected return. This methodology aims to provide a short-term investment with a stock portfolio that offers the best risk-to-return profile for stocks listed on the JSE by combining price prediction and portfolio optimization.

Keywords: financial stocks, optimized asset allocation, prediction modelling, South Africa

Procedia PDF Downloads 78

Authors: Erez Yerushalmi, Sani Ziv

Abstract:

The rising demand for healthcare services, without a corresponding rise in public supply, led to a debate on whether to increase private healthcare provision - especially in hospital services and second-tier healthcare. Proponents for increasing private healthcare highlight gains in efficiency, while opponents its risk to social welfare. None, however, provide a measure of the social value and its impact on the economy in terms of a monetary value. In this paper, we impute a minimum social value of public healthcare that corresponds to indifference between gains in efficiency, with losses to social welfare. Our approach resembles contingent valuation methods that introduce a hypothetical market for non-commodities, but is different from them because we use numerical simulation techniques to exploit certain market failure conditions. In this paper, we develop a general equilibrium model that distinguishes between public-private healthcare services and public-private financing. Furthermore, the social value is modelled as a by product of healthcare services. The model is then calibrated to our unique health focused Social Accounting Matrix of Israel, and simulates the introduction of a hypothetical health-labour market - given that it is heavily regulated in the baseline (i.e., the true situation in Israel today). For baseline parameters, we estimate the minimum social value at around 18% public healthcare financing. The intuition is that the gain in economic welfare from improved efficiency, is offset by the loss in social welfare due to a reduction in available social value. We furthermore simulate a deregulated healthcare scenario that internalizes the imputed value of social value and searches for the optimal weight of public and private healthcare provision.

Keywords: contingent valuation method (CVM), general equilibrium model, hypothetical market, private-public healthcare, social value of public healthcare

Procedia PDF Downloads 134