Search results for: Monica Price

Authors: Elham S. Hasham, Anthony S. Hasham

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The construction industry is one of Australia’s fastest growing industries and its success is a result of a firm’s client satisfaction with focus on product determinants such as price and quality. Ensuring quality at every phase is a must and building rapport with the client will go a long way. To capitalise on the growing demand for Engineering Consulting Firms (ECFs), we should “redefine the bottom line by allowing client satisfaction, high-quality standards, and profits to be the top priorities”. Consequently, the emphasis should be on improving employee skills through various training provisions. Clients seek consistency and thus expect that all services should be similar in respect to quality and the ability of the service to meet their needs. This calls for empowerment and comfortable work conditions to motivate employees and give them incentive to deliver quality and excellent output. The methodology utilized is triangulation-a combination of both quantitative and qualitative research. The case study-Australian Consulting Engineers (ACE) was established in 1995 and has operations throughout Australia, the Philippines, Europe, U.A.E., K.S.A., and Lebanon. ACE is affiliated with key agencies and support organizations in the engineering industry with International Organization for Standardization (ISO) certifications in Safety and Quality Management. The objective of this study is significant as it sheds light on employee motivation and client satisfaction as imperative determinants of the success of an organization.

Keywords: leadership, motivation, organizational behavior, satisfaction

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Authors: Muktar Haruna

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This research work examines the International Financial Reporting Standard (IFRS) adoption and value relevance of earnings of listed consumer goods companies in the Nigerian. The population of the study comprises 22 listed consumer goods companies, out of which 15 were selected as sample size of the study. The scope of the study is a 12-year period covering from 2006 to 2018. Secondary data from the annual report of sampled companies were used, which consists of earnings per share (EPS), the book value of equity per share (BVE) as independent variables; firm size (FSZ) as a control variable, and market share price of sampled companies from Nigerian stock exchange as dependent variable. Multiple regressions were used to analyze the data. The results of the study showed that IFRS did not improve the value relevance of earnings after the adoption, which translates to a decrease in value relevance of accounting numbers in the post-adoption period. The major recommendation is that the Nigerian Reporting Council should ensure full compliance to all provisions of IFRS and provide uniformity in the presentation of non-current assets in the statement of financial position, where some present only net current assets leaving individual figures for current assets and liabilities invisible.

Keywords: IFRS, adoption, value relevance, earning per share, book value of equity per share

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Authors: Suarez-Puello Alejandro, Baquero-Ruiz Andrés F, Suarez-Puello Rodrigo

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This paper discusses the results of a foresight exercise which analyzes Bogota’s fruit, vegetable and tuber supply chain strategy- described at the Food Supply and Security Master Plan (FSSMP)-to provide the inhabitants of Bogotá, Colombia, with basic food products at a fair price. The methodology consisted of using quantitative and qualitative foresight tools such as system dynamics and variable selection methods to better represent interactions among stakeholders and obtain more integral results that could shed light on this complex situation. At first, the Master Plan is an input to establish the objectives and scope of the exercise. Then, stakeholders and their relationships are identified. Later, system dynamics is used to model product, information and money flow along the fruit, vegetable and tuber supply chain. Two scenarios are presented, discussing actions by the public sector and the reactions that could be expected from the whole food supply system. Finally, these impacts are compared to the Food Supply and Security Master Plan’s objectives suggesting recommendations that could improve its execution. This foresight exercise performed at a governmental level is intended to promote the widen the use of foresight as an anticipatory, decision-making tool that offers solutions to complex problems.

Keywords: decision making, foresight, public policies, supply chain, system dynamics

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Authors: Eduardo Wiebbelling, Marcelo Curth

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Among the sporting modalities, soccer stands out as the one that reached the world's largest spray today, moving large monetary sums. However, the modality presents potential to be explored by the agents inserted in it. New advertising campaigns have overwhelmed the media and the consumption of sports goods, especially soccer, has increased over the years by having experts increase their marketing projects linked to this specific area. However, little is studied about consumer behavior regarding the purchase of specific products linked to the club. In this sense, the research aims to understand the reasons that lead the fans of two rival clubs in southern Brazil to consume limited edition products from their respective soccer clubs. The method used was an in-depth exploratory survey with thirty memberships and non-memberships. The results showed that in the group of memberships the main motivations are emotional, of historical rescue from memories and feelings that arouse in the fan when they remember their idols and the titles conquered by the club. In the group of non-memberships, a more rational and objective view was perceived, involving aspects such as promotion, utility and extra benefits. Finally, it is realized that fans generally do not value the products to be limited edition. It is believed that this is due to the fact that the products are usually marketed at a higher price when compared to similar products offered on a regular basis.

Keywords: consumer behavior, limited edition, soccer, sports marketing

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Authors: Keunock Lew, Seungryul Ma

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The paper analyzes risk and expected return of lenders who provide mortgage loans to households in the shared mortgage program of Korea. In 2013, the Korean government introduced the mortgage program to help low income householders to convert their renting into purchasing houses. The financial source for the mortgage program is the Urban Housing Fund set up by the Korean government. Through the program, low income households can borrow money from lenders to buy a house at a very low interest rate (e.g. 1 % per year) for a long time. The motivation of adopting this mortgage program by the Korean government is that the cost of renting houses has been rapidly increased especially in large urban areas during the past decade, which became financial difficulties to low income households who do not have their own houses. As the analysis methodology, the paper uses a spread sheet model for projecting cash flows of the mortgage product over the period of loan contract. It also employs Monte Carlo simulation method to analyze the risk and expected yield of the lenders with assumption that the future housing price and market rate of interest follow a stochastic process. The study results will give valuable implications to the Korean government and lenders who want to stabilize the mortgage program and innovate the related loan products.

Keywords: expected return, Monte Carlo simulation, risk, shared mortgage program

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Authors: Cristina Chaminade, Mandar Kulkarni, Balaji Parthasarathy, Monica Plechero

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The characteristics of a regional innovation system (RIS) and the specificity of the knowledge base of an industry may contribute to create peculiar paths for innovation and development of firms’ geographic extended innovation networks. However, the relative empirical evidence in emerging economies remains underexplored. The paper aims to fill the research gap by means of some recent qualitative research conducted in 2016 in Beijing (China) and Bangalore (India). It analyzes cases studies of firms in the new media industry, a sector that merges different IT competences with competences from other knowledge domains and that is emerging in those RIS. The results show that while in Beijing the new media sector results to be more in line with the existing institutional setting and governmental goals aimed at targeting specific social aspects and social problems of the population, in Bangalore it remains a more spontaneous firms-led process. In Beijing what matters for the development of innovation networks is the governmental setting and the national and regional strategies to promote science and technology in this sector, internet and mass innovation. The peculiarities of recent governmental policies aligned to the domestic goals may provide good possibilities for start-ups to develop innovation networks. However, due to the specificities of those policies targeting the Chinese market, networking outside the domestic market are not so promoted. Moreover, while some institutional peculiarities, such as a culture of collaboration in the region, may be favorable for local networking, regulations related to Internet censorship may limit the use of global networks particularly when based on virtual spaces. Mainly firms with already some foreign experiences and contact take advantage of global networks. In Bangalore, the role of government in pushing networking for the new media industry at the present stage is quite absent at all geographical levels. Indeed there is no particular strategic planning or prioritizing in the region toward the new media industry, albeit one industrial organization has emerged to represent the animation industry interests. This results in a lack of initiatives for sustaining the integration of complementary knowledge into the local portfolio of IT specialization. Firms actually involved in the new media industry face institutional constrains related to a poor level of local trust and cooperation, something that does not allow for full exploitation of local linkages. Moreover, knowledge-provider organizations in Bangalore remain still a solid base for the IT domain, but not for other domains. Initiatives to link to international networks seem therefore more the result of individual entrepreneurial actions aimed at acquiring complementary knowledge and competencies from different domains and exploiting potentiality in different markets. From those cases, it emerges that role of government, soft institutions and organizations in the two RIS differ substantially in the creation of barriers and opportunities for the development of innovation networks and their specific aim.

Keywords: regional innovation system, emerging economies, innovation network, institutions, organizations, Bangalore, Beijing

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Authors: Valean Maria

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Construction and demolition waste management is a timely topic, due to the urgency of its transition to sustainability. This sector is responsible for over a third of the waste generated in the E.U., while the legislation requires a proportion of at least 70% preparation for reuse and recycle, excluding backfilling. To this end, the E.U. Commission has provided the Level(s) methodology, allowing for the standardized planning and reporting of waste quantities across all levels of the construction process, from the architecture, to the demolition, from the estimation stage, to the actual measurements at the end of the operations. We applied Level(s) for the first time to the Romanian context, a developing E.U. country in which illegal dumping of contruction waste in nature and landfills, are still common practice. We performed the desk study of the buildings’ documents, followed by field studies of the sites, and finally the insertion and calculation of statistical data of the construction and demolition waste. We learned that Romania is far from the E.U. average in terms of the initial estimations of waste, with some numbers being higher, others lower, and that the price of evacuation to landfills is significantly lower in the developing country, a possible barrier to adopting the new regulations. Finally, we found that concrete is the predominant type waste, in terms of quantity as well as cost of disposal. Further directions of research are provided, such as mapping out all of the alternative facilities in the region and the calculation of the financial costs and of the CO2 footprint, for preparing and delivering waste sustainably, for a more sound and locally adapted model of waste management.

Keywords: construction, waste, management, levels, EU

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Authors: Eric Wilson Santos Cabral, Marta Monteiro Da Costa Cruz, Fabio Luis Maciel Machado, Henrique Andrade, Rodrigo Pirola Pestana, Vivian Andrea Parreira

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The large variation in the price of diesel in Brazil directly affects the variable cost of companies operating in the transportation sector. In rail transport, the great challenge is to overcome the annual budget, cargo and ore transported with cost reduction in relation to previous years, becoming more efficient every year. Some effective measures are necessary to achieve the reduction of the liter ratio consumed by KTKB (Gross Ton per Kilometer multiplied by thousand). This acronym represents the indicator of energy efficiency of some railroads in the world. This study is divided into two parts: the first, to identify using statistical tools, part of the controlled variables in the railways, which have a correlation with the energy efficiency indicator, seeking to aid decision-making. The second, with the use of the train dynamics simulator, within scenarios defined in the operational reality of a railroad, seeks to optimize the train formations and the train stop model for the change of train drivers. With the completion of the study, companies in the rail sector are expected to be able to reduce some of their transportation costs.

Keywords: railway transport, railway simulation, energy efficiency, fuel consumption

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Authors: Mehdi Modabberifar, Milad Roodi, Ehsan Souri

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In recent years, honeycomb fiber reinforced plastic (FRP) sandwich panels have been increasingly used in various industries. Low weight, low price, and high mechanical strength are the benefits of these structures. However, their mechanical properties and behavior have not been fully explored. The objective of this study is to conduct a combined numerical-statistical investigation of honeycomb FRP sandwich beams subject to torsion load. In this paper, the effect of geometric parameters of the sandwich panel on the maximum shear strain in both face and core and angle of torsion in a honeycomb FRP sandwich structures in torsion is investigated. The effect of Parameters including core thickness, face skin thickness, cell shape, cell size, and cell thickness on mechanical behavior of the structure were numerically investigated. Main effects of factors were considered in this paper and regression equations were derived. Taguchi method was employed as experimental design and an optimum parameter combination for the maximum structure stiffness has been obtained. The results showed that cell size and face skin thickness have the most significant impacts on torsion angle, maximum shear strain in face and core.

Keywords: finite element, honeycomb FRP sandwich panel, torsion, civil engineering

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Authors: Randy D. Colon

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Through a freedom of information request, data pertaining to Housing Choice Voucher (HCV) households has been obtained from the Chicago Housing Authority, including rent price and number of bedrooms per HCV household, community area, and zip code from 2013 to the first quarter of 2018. Similar data pertaining to the private rental market will be obtained through public records found through the United States Department of Housing and Urban Development. The datasets will be analyzed through statistical and mapping software to investigate the potential link between HCV households and distorted rent prices. Quantitative data will be supplemented by qualitative data to investigate the lived experience of Chicago residents. Qualitative data will be collected at community meetings in the Chicago Englewood neighborhood through participation in neighborhood meetings and informal interviews with residents and community leaders. The qualitative data will be used to gain insight on the lived experience of community leaders and residents of the Englewood neighborhood in relation to housing, the rental market, and HCV. While there is an abundance of quantitative data on this subject, this qualitative data is necessary to capture the lived experience of local residents effected by a changing rental market. This topic reflects concerns voiced by members of the Englewood community, and this study aims to keep the community relevant in its findings.

Keywords: Chicago, housing, housing choice voucher program, housing subsidies, rental market

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Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

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The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Erika Price, Lisa Johnson

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Cognitive and dispositional empathy is decreasing among students worldwide, particularly those at university. This paper looks at the effects of encouraging empathetic positioning in divisive topics by teaching listening skills and moral discovery to university students. Two groups of university students were given the assignment to interview individuals they disagreed with on social issues (e.g. abortion, gun control, legalization of drugs, involvement in Ukraine, etc.). One group completed the assignment with no other instruction. The second group completed the assignment after receiving instruction in active listening and Jonathan Haidt’s theory of moral foundations in politics. Results show that when students are given both active listening techniques and awareness of moral foundations, they are significantly more likely to have socially positive interactions with those they disagree with on issues as compared to those who listen passively to ideological opponents. As students interacted with those they disagreed with, they evidenced prosocial behaviors of acknowledgement, validation, and even commonalities with their opponents’ viewpoints, signifying a heartening trend of empathetic connection that is waning in students. The research suggests that empathy is a skill that can be nurtured by active listening but that it is more fully cultivated when paired with the concept of moral foundations underpinning political ideologies. These findings shed light on how to create more effective pedagogies for social and emotional learning, as well as inclusion.

Keywords: empathy, listening skills, moral discovery, pedagogy, prosocial behavior

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Authors: Carmel Khrisna Wong Moreno, Dinah M. Espina

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The increasing price of feed ingredients has prompted farmers to seek feasible feed alternatives like the utilization of locally-grown protein-rich feedstuff which is cheaper but gives a positive result in poultry production. Trichanthera gigantea, a fodder tree which is an excellent alternative as feed ingredient in the Philippines has now gained popularity as feed supplement. This study was conducted to determine the growth and laying performance of commercial hens fed with varying levels of Trichanthera gigantea leaf meal. The incorporation of Trichanthera gigantea leaf meal at 5%, 10%, and 15% into the diet of commercial hens did not affect the growth and laying performance. Results of the study revealed that the weight gain of the birds fed with Trichanthera gigantea supplemented diets was not significantly different with the control (100% commercial layer mash). The voluntary feed intake, feed conversion ratio, weekly average egg weight and egg production of the commercial hens fed with T. gigantea leaf meal supplemented diets were not significantly different from the control. Results of the study showed that the supplementation of Trichanthera gigantea leaf meal of up to 15% into the diets of commercial hens is highly acceptable since it does not affect the growth and laying performance of the birds. In addition, it would mean a 15% savings in production cost from commercial feeds.

Keywords: egg production, growth, laying performance, trichanthera gigantea (nees)

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Authors: Kanamon Suwantada

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The purpose of this research is to understand customer’s expectations towards homestays and to establish the precise strategies to increase numbers of tourists for homestay business in Amphawa district, Samutsongkram, Thailand. The researcher aims to ensure that each host provides experiences to travelers who are looking for and determining new targets for homestay business in Amphawa as well as creating sustainable homestay using marketing strategies to increase customers. The methods allow interview and questionnaire to gain both overview data from the tourists and qualitative data from the homestay owner’s perspective to create a GAP analysis. The data was collected from 200 tourists, during 15th May - 30th July, 2011 from homestay in Amphawa Community. The questionnaires were divided into three sections: the demographic profile, customer information and influencing on purchasing position, and customer expectation towards homestay. The analysis, in fact, will be divided into two methods which are percentage and correlation analyses. The result of this research revealed that homestay had already provided customers with reasonable prices in good locations. Antithetically, activities that they offered still could not have met the customer’s requirements. Homestay providers should prepare additional activities such as village tour, local attraction tour, village daily life experiences, local ceremony participation, and interactive conversation with local people. Moreover, the results indicated that a price was the most important factor for choosing homestay.

Keywords: ecotourism, homestay, marketing, sufficiency economic philosophy

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Authors: Yiseyon Hosu, Joseph Akande

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Wheat is one of the most important staple food grains of human for centuries and is largely consumed in South Africa. It has a special place in the South African economy because of its significance in food security, trade, and industry. This paper modelled and forecast the production and consumption of wheat in South Africa in the time covid-19 and the ongoing Russia-Ukraine war by using annual time series data from 1940–2021 based on the ARIMA models. Both the averaging forecast and selected models forecast indicate that there is the possibility of an increase with respect to production. The minimum and maximum growth in production is projected to be between 3million and 10 million tons, respectively. However, the model also forecast a possibility of depression with respect to consumption in South Africa. Although Covid-19 and the war between Ukraine and Russia, two major producers and exporters of global wheat, are having an effect on the volatility of the prices currently, the wheat production in South African is expected to increase and meat the consumption demand and provided an opportunity for increase export with respect to domestic consumption. The forecasting of production and consumption behaviours of major crops play an important role towards food and nutrition security, these findings can assist policymakers and will provide them with insights into the production and pricing policy of wheat in South Africa.

Keywords: ARIMA, food security, price volatility, staple food, South Africa

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Authors: Mihaela Beregoi, Horia Iovu, Cristina Busuioc, Alexandru Evanghelidis, Elena Matei, Monica Enculescu, Ionut Enculescu

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Nanomaterials field is very attractive for all researchers who are attempting to develop new devices with the same or improved properties than the micro-sized ones, while reducing the reagents and power consumptions. In this way, a wide range of nanomaterials were fabricated and integrated in applications for electronics, optoelectronics, solar cells, tissue reconstruction and drug delivery. Obviously, the most appealing ones are those dedicated to the medical domain. Different types of nano-sized materials, such as particles, fibers, films etc., can be synthesized by using physical, chemical or electrochemical methods. One of these techniques is electrospinning, which enable the production of fibers with nanometric dimensions by pumping a polymeric solution in a high electric field; due to the electrostatic charging and solvent evaporation, the precursor mixture is converted into nonwoven meshes with different fiber densities and mechanical properties. Moreover, polyaniline is a conducting polymer with interesting optical properties, suitable for displays and electrochromic windows. Otherwise, polyaniline is an electroactive polymer that can contract/expand by applying electric stimuli, due to the oxidation/reduction reactions which take place in the polymer chains. These two main properties can be exploited in order to synthesize smart materials that change their dimensions, exhibiting in the same time good electrochromic properties. In the context aforesaid, a poly(methyl metacrylate) solution was spun to get webs composed of fibers with diameter values between 500 nm and 1 µm. Further, the polymer meshes were covered with a gold layer in order to make them conductive and also appropriate as working electrode in an electrochemical cell. The gold shell was deposited by DC sputtering. Such metalized fibers can be transformed into smart materials by covering them with a thin layer of conductive polymer. Thus, the webs were coated with a polyaniline film by the electrochemical route, starting from and aqueous solution of aniline and sulfuric acid, where sulfuric acid acts as oxidant agent. For the polymerization of aniline, a saturated calomel electrode was employed as reference, a platinum plate as counter electrode and the gold covered webs as working electrode. Chronoamperometry was selected as deposition method for polyaniline, by modifying the deposition time. Metalized meshes with different fiber densities were used, the transmission ranging between 70 and 80 %. The morphological investigation showed that polyaniline layer has a granular structure for all deposition experiments. As well, some preliminary optical tests were done by using sulfuric acid as electrolyte, which revealed the modification of polyaniline colour from green to dark blue when applying a voltage. In conclusion, new multilayered materials were obtained by a simple approach: the merge of the electrospinning method benefits with polyaniline chemistry. This synthesis method allows the fabrication of structures with reproducible characteristics, suitable for display or tissue substituents.

Keywords: electrospinning, fibers, smart materials, polyaniline

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Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut

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This research investigates the distribution of food demand for animal food and the optimum amount of that food production at minimum cost. The data consist of customer purchase orders for the food of laying hens, price of food for laying hens, cost per unit for the food inventory, cost related to food of laying hens in which the food is out of stock, such as fine, overtime, urgent purchase for material. They were collected from January, 1990 to December, 2013 from a factory in Nakhonratchasima province. The collected data are analyzed in order to explore the distribution of the monthly food demand for the laying hens and to see the rate of inventory per unit. The results are used in a stochastic linear programming model for aggregate planning in which the optimum production or minimum cost could be obtained. Programming algorithms in MATLAB and tools in Linprog software are used to get the solution. The distribution of the food demand for laying hens and the random numbers are used in the model. The study shows that the distribution of monthly food demand for laying has a normal distribution, the monthly average amount (unit: 30 kg) of production from January to December. The minimum total cost average for 12 months is Baht 62,329,181.77. Therefore, the production planning can reduce the cost by 14.64% from real cost.

Keywords: animal food, stochastic linear programming, aggregate planning, production planning, demand uncertainty

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Authors: Siziwe Monica Zuma

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The Expanded Public Works Program (EPWP) is an instrument that the South African Government uses to reduce unemployment and poverty and also stimulate economic growth. However, due to the limited budget and programs in the EPWP, the program has had challenges in reducing unemployment, poverty and stimulating economic growth. The EPWP Vuk’uphile program had positive outcomes in developing Black emerging contractors, in order for them to participate in the main stream economy far better than when the EPWP program was not introduced. The Skills component of the program particularly the EPWP Infrastructure, which is the most funded program under EPWP has had limited success in transferring appropriate skills to ensure labour participants can penetrate the labour market after participating in the EPWP. Education and skills are important attributes that can contribute to labour absorption, however, the EPWP particularly the infrastructure program needs to strengthen skills development over a longer period of time suggested a year with multi skills relevant to the labour market. Longer and more sustained employment provides a safety net and reduces poverty better that short term employment. The EPWP program can be expanded in the infrastructure sector, focusing on rural infrastructure, agricultural infrastructure, infrastructure related components like property, ownership, management, and other services. These can stimulate the Economic sector Infrastructure of EPWP, offer longer term and more sustained employment and rural enterprise development and further employment. The Expanded Public Works Program (EPWP) is an instrument that the South African Government uses to reduce unemployment and poverty and also stimulate economic growth. However, due to the limited budget and programs in the EPWP, the program has had challenges in reducing unemployment, poverty and stimulating economic growth. The EPWP Vuk’uphile program has had positive outcomes in developing Black emerging contractors, in order for them to participate in the main stream economy far better than when the EPWP program was not introduced. The Skills component of the program particularly the EPWP Infrastructure, which is the most funded program under EPWP has had limited success in transferring appropriate skills to ensure labour participants are able to penetrate the labour market after participating in the EPWP. Education and skills are important attributes that can contribute to labour absorption, however, the EPWP particularly the infrastructure program needs to strengthen skills development over a longer period of time suggested a year with multi skills relevant to the labour market. Longer and more sustained employment provides a safety net and reduces poverty better that short term employment. The EPWP program can be expanded in the infrastructure sector, focusing on rural infrastructure, agricultural infrastructure, infrastructure related components like property, ownership, management, and other services. These can stimulate the Economic sector Infrastructure of EPWP, offer longer term and more sustained employment and rural enterprise development and further employment.

Keywords: Expanded Public Works Program (EPWP), VUKÚPHILE, youth, Public Works Programs (PWP), Infrastructure Sector of EPWP (EPWP Infrastructure)

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Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi

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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.

Keywords: economic growth, energy demand, income, real GDP, urbanization, VECM

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Authors: Jitendra Aswani

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In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that.

Keywords: global financial crisis, Asian stock markets, network science, Kruskal algorithm

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Authors: Nazanin Naderi, Milton Smith

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Since worldwide demand for renewable energy is increasing rapidly because of the climate problem and the limitation of fossil fuels, technologies of alternative energy sources have been developed and the electric power network now includes renewable energy resources such as wind energy. Because of the huge advantages that wind energy has, like reduction in natural gas use, price pressure, emissions of greenhouse gases and other atmospheric pollutants, electric sector water consumption and many other contributions to the nation’s economy like job creation it has got too much attention these days from different parts of the world especially in the United States which is trying to provide 20% of the nation’s energy from wind by 2030. This study is trying to evaluate the effect of splitting wind farms on power output. We are trying to find if we can get more output by installing wind turbines in different sites rather than installing all wind turbines in one site. Five potential sites in Texas have been selected as a case study and two years wind data has been gathered for these sites. Wind data are analyzed and effect of correlation between sites on power output has been evaluated. Standard deviation and autocorrelation effect has also been considered for this study. The paper has been organized as follows: After the introduction the second section gives a brief overview of wind analysis. The third section addresses the case study and evaluates correlation between sites, auto correlation of sites and standard deviation of power output. In section four we describe the results.

Keywords: auto correlation, correlation between sites, splitting wind farms, power output, standard deviation

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Authors: M. Israil Hossain, T. P. Tiwari, Ashrafuzzaman Gulandaz, Nusrat Jahan

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Two-wheel tractor (power tiller) is a common tillage tool in Bangladesh agriculture for easy access in fragmented land with affordable price of small farmers. Traditional maize sheller needs to be carried from place to place by hooking with two-wheel tractor (2WT) and set up again for shelling operation which takes longer time for preparation of maize shelling. The mobile maize sheller eliminates the transportation problem and can start shelling operation instantly any place as it is attached together with 2WT. It is counterclockwise rotating cylinder, axial flow type sheller, and grain separated with a frictional force between spike tooth and concave. The maize sheller is attached with nuts and bolts in front of the engine base of 2WT. The operating power of the sheller comes from the fly wheel of the engine of the tractor through ‘V” belt pulley arrangement. The average shelling capacity of the mobile sheller is 2.0 t/hr, broken kernel 2.2%, and shelling efficiency 97%. The average maize shelling cost is Tk. 0.22/kg and traditional custom hire rate is Tk.1.0/kg, respectively (1 US$=Tk.78.0). The service provider of the 2WT can transport the mobile maize sheller long distance in operator’s seating position. The manufacturers started the fabrication of mobile maize sheller. This mobile maize sheller is also compatible for the other countries where 2WT is available for farming operation.

Keywords: cost effective, mobile maize sheller, maize shelling capacity, small farmers, two wheel tractor

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Authors: Dai-Ling Li, Jung-Fa Cheng, Min-Lang Huang, Yun-Yao Chi

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The hedonic pricing model has been popularly applied to describe the economic value of environmental amenities in urban housing, but the results for cultural heritage variables remain relatively ambiguous. In this paper, integrated variables extending by GIS-based data and an existing typology of communities used to examine how cultural heritage and environmental amenities and disamenities affect housing prices across urban communities in Tainan, Taiwan. The developed models suggest that, although a sophisticated variable for central services is selected, the centrality of location is not fully controlled in the price models and thus picked up by correlated peripheral and central amenities such as cultural heritage, open space or parks. Analysis of these correlations permits us to qualify results and present a revised set of relatively reliable estimates. Positive effects on housing prices are identified for views, various types of recreational infrastructure and vicinity of nationally cultural sites and significant landscapes. Negative effects are found for several disamenities including wasteyards, refuse incinerators, petrol stations and industries. The results suggest that systematic hypothesis testing and reporting of correlations may contribute to consistent explanatory patterns in hedonic pricing estimates for cultural heritage and landscape amenities in urban.

Keywords: hedonic pricing model, cultural heritage, landscape amenities, housing

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Authors: Wilhelmus Hary Susilo

Abstract:

The marketplace would have at least some resources that are unique (e.g., well communication, knowledgeable employees, consumer value, effective transaction, efficient production processes and institutional branding). The institutions should have an advantage in resources and then could lead to positions of competitive advantage. These major challenges focus on increasing unique consumer value on reliable purchases that influence of loyalty and pursuit of a sustainable competitive advantage from the Institutions in Jakarta. Furthermore, a research was conducted with a quantitative method and a confirmatory strategic research design. The research resulted in entire confirmatory factors analysis (1st CFA and 2nd CFA) among variables pertains to; χ2//Df (9.30, 4.38, 6.95, 2.76, 2.97, 2.91, 2.32 and 6.90), GFI (0.72, 0.82, 0.82, 0.81, 0.78, 0.84, 0.89 and 0.70) and CFI (0.90, 0.95, 0.93, 0.92, 0.95, 0.91, 0.96 and 0.89), which indicates a good model. Furthermore, the hybrid model is well fit with, χ2//Df=1.84, P value = 0.00, RMSEA = 0.076, GFI = 0.76, NNFI= 0.95, PNFI= 0.82, IFI= 0.96, RFI= 0.91, AGFI= 0.71 and CFI= 0.96. The result was significant hypothesis, i.e. variables of communitization marketing 3.0 and price perception influenced to unique value of consumer with tvalue =4.46 and 5.89. Furthermore, the consumers value influenced the purchasing with t value = 5.94. Additionally, the loyalty, the ‘communitization’, and the character building marketing 3.0 are affecting the pursuit of a sustainable competitive advantage from institutions with t value = 7.57, -2.12, and 2.04. Finally, the test between the most superior variable dimensions is significantly correlated between INOV and WDES, RESPON and ATT covariance matrix value= 0.72 and 0.71. Thus, ‘communitization’ and character building marketing 3.0 with dimensions of responsibility and technologies would increase a competitive advantage with the dimensions of the innovation and the job design from the institutions.

Keywords: consumer loyalty, marketing 3.0, unique consumer value, purchase, sustainable competitive advantage

Procedia PDF Downloads 268

Authors: Bruno de Almeida Vilela, Heinz Ahn, Ana Lúcia Miranda Lopes, Marcelo Azevedo Costa

Abstract:

Benchmarking public utilities such as transmission system operators (TSOs) is one of the main strategies employed by regulators in order to fix monopolistic companies’ revenues. Since 2007 the Brazilian regulator has been utilizing Data Envelopment Analysis (DEA) to benchmark TSOs. Despite the application of DEA to improve the transmission sector’s efficiency, some problems can be pointed out, such as the high price of electricity in Brazil; the limitation of the benchmarking only to operational expenses (OPEX); the absence of variables that represent the outcomes of the transmission service; and the presence of extremely low and high efficiencies. As an alternative to the current concept of benchmarking the Brazilian regulator uses, we propose a goal-oriented approach. Our proposal supports input/output selection by taking traditional organizational goals and measures as a basis for the selection of factors for benchmarking purposes. As the main advantage, it resolves the classical DEA problems of input/output selection, undesirable and dual-role factors. We also provide a demonstration of our goal-oriented concept regarding service quality. As a result, most TSOs’ efficiencies in Brazil might improve when considering quality as important in their efficiency estimation.

Keywords: decision making, goal-oriented benchmarking, input/output factor determination, TSO regulation

Procedia PDF Downloads 175

Authors: L. E. Mphahama, A. Mushunje, A. Taruvinga

Abstract:

Although broiler production does not generate any large incomes among the smallholder community, it represents the main source of livelihood and part of nutritional requirement. As a result, market for broiler meat is growing faster than that of any other meat products and is projected to continue growing in the coming decades. However, the implication is that a multitude of factors manipulates transformation of smallholder broiler farmers participating in the mainstream markets. From 217 smallholder broiler farmers, socio-economic and institutional factors in broiler farming were incorporated into Binary model to estimate the probability of broiler farmers’ participation in the mainstream markets within the Maseru district in Lesotho. Of the thirteen (13) predictor variables fitted into the model, six (6) variables (household size, number of years in broiler business, stock size, access to transport, access to extension services and access to market information) had significant coefficients while seven (7) variables (level of education, marital status, price of broilers, poultry association, access to contract, access to credit and access to storage) did not have a significant impact. It is recommended that smallholder broiler farmers organize themselves into cooperatives which will act as a vehicle through which they can access contracts and formal markets. These cooperatives will also enable easy training and workshops for broiler rearing and marketing/markets through extension visits.

Keywords: broiler chicken, mainstream market, Maseru district, participation, smallholder farmers

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Authors: Shital Suresh Borse, Vijayalaxmi Kadroli

Abstract:

E-commerce industries nowadays implement the latest AI, ML Techniques to improve their own performance and prediction accuracy. This helps to gain a huge profit from the online market. Ant Colony Optimization, Genetic algorithm, Particle Swarm Optimization, Neural Network & GWO help many e-commerce industries for up-gradation of their predictive performance. These algorithms are providing optimum results in various applications, such as stock price prediction, prediction of drug-target interaction & user ratings of similar products in e-commerce sites, etc. In this study, customer reviews will play an important role in prediction analysis. People showing much interest in buying a lot of services& products suggested by other customers. This ultimately increases net profit. In this work, a convolution neural network (CNN) is proposed which further is useful to optimize the prediction accuracy of an e-commerce website. This method shows that CNN is used to optimize hyperparameters of GWO algorithm using an appropriate coding scheme. Accurate model results are verified by comparing them to PSO results whose hyperparameters have been optimized by CNN in Amazon's customer review dataset. Here, experimental outcome proves that this proposed system using the GWO algorithm achieves superior execution in terms of accuracy, precision, recovery, etc. in prediction analysis compared to the existing systems.

Keywords: prediction analysis, e-commerce, machine learning, grey wolf optimization, particle swarm optimization, CNN

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Authors: J. Švarc-Gajić, A. Cvetanović

Abstract:

Apigenin is a flavone synthetized by many plants and quite abundant in chamomile (Matricaria recutita) in its free form and in the form of its glucoside and different acylated forms. Many beneficial health effects have been attributed to apigenin, such as chemo-preventive, anxiolytic, anti-inflammatory, antioxidant and antispasmodic. It is reported that free apigenin is much more bioactive in comparison to its bound forms. Subcritical water offers numerous advantages in comparison to conventional extraction techniques, such as good selectivity, low price and safety. Superheated water exhibits high hydrolytical potential which must be carefully balanced when using this solvent for the extraction of bioactive molecules. Moderate hydrolytical potential can be exploited to liberate apigenin from its bound forms, thus increasing biological potential of obtained extracts. The polarity of pressurized water and its hydrolytical potential are highly dependent on the temperature. In this research chamomile ligulate flowers were extracted by pressurized hot water in home-made subcritical water extractor in conditions of convective mass transfer. The influence of the extraction temperature was investigated at 30 bars. Extraction yields of total phenols, total flavonoids and apigenin depending on the operational temperature were calculated based on spectrometric assays. Optimal extraction temperature for maximum yields of total phenols and flavonoids showed to be 160°C, whereas apigenin yield was the highest at 120°C.

Keywords: superheated water, temperature, chamomile, apigenin

Procedia PDF Downloads 464

Authors: Umar Adli Amran, Tan Choon Chek, Mohd Shahkhirat Norizan, Then Kek Hoe

Abstract:

Controlled release fertilizer (CRF) enables a regulated nutrients release for more efficient plant uptake compared to the normal granular fertilizer. It reduces nutrients loss via surface run-off and leaching, hence promotes sustainable agriculture. Although the performance of CRF in providing consistent and timely nutrients supply is well known, its expensive price limits it usage in a large scale plantation. This study is conducted to evaluate the properties and performance of bio-based polyurethane (PU)-coated CRF via laboratory and oil palm main nursery trial. The CRF is produced by coating of a normal commercial compound granular fertilizer from FGV Fertiliser Sdn. Bhd., namely Felda 10 (10.5-8-20-3+0.5B), and designated as CRF FGV10. Based on laboratory evaluation, the CRF FGV10 can sustain nutrients release for more than 6 months. Vegetative growth parameters such as girth size, palm height, third frond length, and the total number of fronds produced were recorded. Besides that, dry biomass of the oil palm seedlings was also determined. From the evaluation, it is proved that at 50% reduction of nutrients application rate and for only two times application (T3), CRF FGV10 enabled the oil palm seedlings to achieve similar vegetative growth with the control samples (T1). It is also proven that only PU-coated CRF FGV10 had allowed the reduction of fertilizer rate and application rounds.

Keywords: nutrition, oil palm seedlings, polyurethane, sustainable manuring, vegetative growth

Procedia PDF Downloads 36

Authors: Mary Ann U. Baradi, Arnold R. Elepaño, Manuel Jose C. Regalado

Abstract:

Aromatic rice has become popular and continues to command higher price than ordinary rice because of its distinctive scent that makes it special. Freshly harvested aromatic rice exhibits strong aromatic scent but decreases with time and conditions during storage. Of the many volatile compounds in aromatic rice, 2-acetyl-1-pyrroline (2AP) is a major compound that gives rice its popcorn-like aroma. The diffusion mechanism of 2AP in rice was investigated. Semi-empirical models explaining 2AP diffusion as affected by temperature and duration were developed. Storage time and temperature affected 2AP loss via diffusion. The amount of 2AP in rice decreased with time. Free 2AP, being volatile, is lost due to diffusion. Storage experiment indicated rapid 2AP loss during the first five weeks and subsequently leveled off afterwards; attaining level of starch bound 2AP. Decline of 2AP during storage followed exponential equation and exhibited four stages; i.e. the initial, second, third and final stage. Free 2AP is easily lost while bound 2AP is left, only to be released upon exposure to high temperature such as cooking. Both free and bound 2AP is found in endosperm while free 2AP is in the bran. Around 63–67% of total 2AP was lost in brown and milled rice of MS 6 paddy kept at ambient. Samples stored at higher temperature (27°C) recorded higher 2AP loss than those kept at lower temperature (15°C). The study should be able to guide processors in understanding and controlling parameters in storage to produce high quality rice.

Keywords: 2-acetyl-1-pyrroline, aromatic rice, diffusion mechanism, storage

Procedia PDF Downloads 317