Search results for: conservative firms

Authors: Prangvalai Buasan, Boonrod Sajjakulnukit, Thongchart Bowonthumrongchai

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The demand for biomass pellets in the industrial sector has significantly increased since 2020. The revised version of Thailand’s power development plan as well as the Alternative Energy Development Plan, aims to promote biomass fuel consumption by around 485 MW by 2030. The replacement of solid fossil fuel with biomass pellets will affect medium-term and long-term national benefits for all industries throughout the supply chain. Therefore, the evaluation of environmental and economic impacts throughout the biomass pellet supply chain needs to be performed to provide better insight into the goods and financial flow of this activity. This study extended the national input-output table for the biomass pellet industry and applied the input-output analysis (IOA) method, a sort of macroeconomic analysis, to interpret the result of transactions between industries in the monetary unit when the revised national power development plan was adopted and enforced. Greenhouse gas emissions from consuming energy and raw material through the supply chain are also evaluated. The total intermediate transactions of all economic sectors, which included the biomass pellets sector (CASE 2), increased by 0.02% when compared with the conservative case (CASE 1). The control total, which is the sum of total intermediate transactions and value-added, the control total of CASE 2 is increased by 0.07% when compared with CASE 1. The pellet production process emitted 432.26 MtCO2e per year. The major sharing of the GHG is from the plantation process of raw biomass.

Keywords: input-output analysis, environmental extended input-output analysis, macroeconomic planning, biomass pellets, renewable energy

Procedia PDF Downloads 81

Authors: Tan Dexian Arthur, James Wei Ming Kwek, Ian Loh, Lee Tee Sin

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Statement of the Problem: Mucoceles most commonly affect the frontal sinus, which results from chronic obstruction of the sinus ostium or cystic dilatation of mucous glands with ductal obstruction. They are known to cause bony erosion of the sinus walls, which can lead to large defects. These defects were typically managed by obliteration or cranialization of the frontal sinus. Although short term outcomes of conservative management of significant posterior table defects from fractures are promising, there have been no studies on the long-term outcomes of large dehiscences in the posterior wall of the frontal sinus. Methodology & Findings : Computed Tomography (CT) Paranasal Sinuses images were analyzed and found complete spontaneous osteogenesis of a large dehiscent frontal sinus posterior wall, secondary to a large mucocele, 9 years from functional endoscopic sinus surgery with the defect managed conservatively. Conclusion & Significance: The dura is well known for its osteogenic properties. Prior studies have showed that dura could induce osteogenesis in cutaneous tissue in the absence of other central nervous system structures. It was also demonstrated that osteogenesis and chondrogenesis were possible in zygomatic fractures by transplanting neonatal dura grafts to the bony defects in rats. Extrapolating from these studies, the authors postulate that the presence of dura beneath the bony deformity of the posterior frontal sinus wall had likely initiated the osteogenesis and restored the bony defect in the patient. In our literature review, we did not find any reports of spontaneous osteogenesis of large frontal sinus defects. While our experience is incidental, it reinforces the osteogenetic potential of an intact dura and further highlights that selected large defects of the posterior wall of the frontal sinus can be conservatively managed.

Keywords: paranasal sinus mucocele, mucocele, osteogenesis, dehiscence

Procedia PDF Downloads 47

Authors: James Kinsella

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There is currently very little understanding of how the interaction between in- vestors, consumers, the firms (agents) affect a) the transmission of information, and b) the creation and transfer of value and wealth between these two groups. Employing scholarly ideas from multiple research areas (behavioural finance, emotional finance, econo-biology, and game theory) we develop a conceptual the- oretic model (the ‘bow-tie’ model) as a framework for considering this interaction. Our bow-tie model views information transfer, value and wealth creation, and transfer through the lens of “investor-consumer connection facilitated through the communicative medium of the ‘firm’ (agents)”. We confront our bow-tie model with theoretical and practical examples. Next, we utilise consumer and business confidence data alongside index data, to conduct quantitative analy- sis, to support our bow-tie concept, and to introduce the concept of “investor- consumer connection”. We highlight the importance of information persuasiveness, knowledge, and emotional categorization of characteristics in facilitating a communicative relationship between investors, consumers, and the firm (agents), forming academic and practical applications of the conceptual bow-tie model, alongside applications to wider instances, such as those seen within the Covid-19 pandemic.

Keywords: behavioral finance, emotional finance, economy-biology, social mood

Procedia PDF Downloads 99

Authors: Leesa Mohanty, Ashok Banerjee

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Better audit quality signifies the financial statements of the auditee firm reflect true and fair view of their actual state of affairs, which reduces information asymmetry between management and shareholders, as a result, helps protect interests of shareholders. This study examines the impact of joint audit on audit quality. It is motivated by the ongoing debate where The Institute of Chartered Accountants of India (ICAI), the regulatory body governing auditors, has advocated the finance ministry and the Reserve Bank of India (RBI) for the mandatory use of joint audit in private banks to enhance the quality of audit. Earlier, the Government of India had rejected the plea by ICAI for mandatory joint audits in large companies stating it is not a viable option for promoting domestic firms. We introduce a new measure of audit quality. Drawing from the domain of text analytics, we use relevant phrases in audit reports to gauge audit quality and demonstrate that joint audit improves audit quality. We also, for robustness, use prevalent proxy for audit quality (Big N Auditor, ratio of audit fees to total fees) and find negative effect of joint audit on audit quality. We, therefore highlight that different proxy for audit quality show opposite effect of joint audit.

Keywords: audit fees, audit quality, Big N. Auditor, joint audit

Procedia PDF Downloads 326

Authors: Fatima Ali Abbass, Hassan Ibrahim Rkein

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The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency.

Keywords: cryptocurrency, accounting, IFRS, GAAP, classification, measurement

Procedia PDF Downloads 76

Authors: Josephine Mutwale-Ziko, Nonde Lushinga, Inonge Akakandelwa

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The study discusses the effectiveness of health and safety induction practices on construction sites against the background of the Zambian construction industry experience. The research design included the literature review of relevant literature. Questionnaires and interviews were administered to regulatory bodies, health, and safety personnel. Observation was also employed on construction sites to assess the health and safety practices being used. Health and safety in the construction industry are not something to be ignored or overlooked. The construction industry needs to take heed of the serious consequences of inadequate health and safety induction practices. The implications of inadequate health and safety induction procedures included among others threats to profitability, corporate social responsibility and increased turnover of the workforce leading to poor productivity. Adequate health and safety practices can improve the health and wellbeing of employees, reduce financial implications on firms and encourage productivity on construction sites. Despite this, accidents are still prevalent on construction sites in Zambia. The overall result of this research denotes that the implementation of health and safety induction practices is inadequate, as indicated by the negligent and non-adherent attitude to health and safety induction aspects on the sites by most stakeholders on construction sites. Therefore, health and safety induction practices are ineffective as preventive measures for reduction of accidents on construction sites in Zambia.

Keywords: accidents, health and safety, inadequate, induction

Procedia PDF Downloads 413

Authors: Rihab Belguith, Fathi Abid

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The paper develops a system-based approach to investigate the dynamic adjustment of debt structure and investment policies of the Dow-Jones index. This approach enables the assessment of relations among sales, debt, and investment opportunities by considering the simultaneous effect of the market environmental change and future growth opportunities. We integrate the firm-specific sales variance to capture the industries' conditions in the model. Empirical results were obtained through a panel data set of firms with different sectors. The analysis support that environmental change does not affect equally the different industry since operating leverage differs among industries and so the sensitivity to sales variance. Including adjusted-specific variance, we find that there is no monotonic relation between leverage, sales, and investment. The firm may choose a low debt level in response to high sales variance but high leverage to attenuate the negative relation between sales variance and the current level of investment. We further find that while the overall effect of debt maturity on leverage is unaffected by the level of growth opportunities, the shorter the maturity of debt is, the smaller the direct effect of sales variance on investment.

Keywords: dynamic panel, investment, leverage decision, sales uncertainty

Procedia PDF Downloads 224

Authors: Tiberiu Socaciu, Tudor Colomeischi, Eugenia Iancu

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Business failure affects in various proportions shareholders, managers, lenders (banks), suppliers, customers, the financial community, government and society as a whole. In the era in which we have telecommunications networks, exists an interdependence of markets, the effect of a failure of a company is relatively instant. To effectively manage risk exposure is thus require sophisticated support systems, supported by analytical tools to measure, monitor, manage and control operational risks that may arise. As we know, bankruptcy is a phenomenon that managers do not want no matter what stage of life is the company they direct / lead. In the analysis made by us, by the nature of economic models that are reviewed (Altman, Conan-Holder etc.), estimating the risk of bankruptcy of a company corresponds to some extent with its own business cycle tracing of the company. Various models for predicting bankruptcy take into account direct / indirect aspects such as market position, company growth trend, competition structure, characteristics and customer retention, organization and distribution, location etc. From the perspective of our research we will now review the economic models known in theory and practice for estimating the risk of bankruptcy; such models are based on indicators drawn from major accounting firms.

Keywords: Anglo-Saxon models, continental models, national models, statistical models

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Authors: Mahfoud Djebbar

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Stock dilution is a financial phenomenon resulting from the issue of additional shares by a company, or when holders convert their convertibles into new shares (capital increase). This issue and/or conversion enlarge the company’s share base that will result in marginal dilution (loss) for existing shareholders, and a benefit to new ones. Dilution issues have already been addressed in mainstream finance, particularly as far as information disclosure is concerned. However, in Islamic finance, stock dilution problems have not been deeply studied and the subject has not received sufficient attention from shariah-compatible firms, investors, and scholars. In this regard, this paper emphasises the forms, the effects of capital dilution on current shareholders as well as the ways and techniques of compensating them. And since the research in this field, in its Islamic perspective, is still in its infancy, the paper tries to analyse the phenomenon theoretically in detail using numerical examples, and expose some case studies of Shariah-compliant issuers of convertible Sukuk and how they compensate their existing shareholders. Finally, this study shows that the Sukuk issuers compensate old shareholders using the right of shuf’ah as a well known and practiced pre-emptive right in Islamic transactions centuries ago, as well as the ways conventional bond issuers use.

Keywords: compensating shareholders, convertible Sukuk, Islamic financial innovation, Shuf’ah

Procedia PDF Downloads 310

Authors: Mariana Anaya Villafana

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The sudden change of a significant percentage of the Latino community in the United States elections towards a Republican political orientation was reflected during the 2016 presidential election. This moment represented a radical change that is happening inside the Latino community in the United States, the support they have given to Trump's campaign only demonstrates their support for new anti-immigration regulations and conservative values, which are causing a division of ideologies inside the Latino community. One of the main goals of the following research is to understand the whole phenomenon 'Why would people join their own oppressor?' Align themselves with the politics that prevent many of their relatives to come to the United States and made the assimilation process difficult for their parents. It is important to prove that a change in the identity has happened, through the use of power relations and the attachment to the desired object. A group of Hispanics/Latinos have decided to vote for Trump in order to belong to a society that hasn’t been able to fully include them within it, an action that can result on the non-intentional harm of the values and aims of the rest of the Latino/Hispanic community. In order to understand their new political beliefs, it is necessary to use the method of discourse analysis to comprehend those comments and interviews that are published on web sites such as: 'Latinos for Trump' and 'GOP Hispanic Division'. Among the results that the research has shown, the notion of the 'American Dream' can be considered as a determinant object for the construction of a new identity that is rooted in hard work and legality. One that is proud of the Latino heritage but still wants to maintain the boundaries between legality and illegality in relation to the immigrants. This discourse results on a contradiction to most of the cases because they mention that their families came to the U.S. as immigrants; the only difference is that they work hard to obtain legal citizenship.

Keywords: populism, identity, Latino Community, migration

Procedia PDF Downloads 103

Authors: Ganesh Prasad Mishra, Kusum Lata Mishra

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Structural, organizational ambidexterity influences along with transformational leadership (TL) in the firms to endure viability in conditions of environmental volatility, high level of uncertainty, and possible turbulence. Combining shreds of evidence from the study of N=693 employees of a large private multi-conglomerate organization in the Middle East, we tested whether social astuteness interceded the effects of (TL) on structural, organizational ambidexterity (SOA). Other tested areas were whether status incongruence moderated transformational leadership and structural, organizational ambidexterity relationships. After analyzing through Hierarchically Linear Modelling, we found that social astuteness interceded the effects of TL on SOA, and similarly, status incongruence moderated relationships between TL and SOA. The association between TL and SOA was found to be less encouraging with a high level of status incongruence, and their relationship was strengthened by a lower level of status incongruence. We tested the hypothesized theoretical framework that articulates the conditions under which the social astuteness ideology infused in transformational leadership for achieving higher structural and organizational ambidexterity will likely occur. Findings, suggestions, and future directions for research have been deliberated in detail.

Keywords: transformational leadership, social astuteness, status incongruence, relationship, structural organizational ambidexterity.

Procedia PDF Downloads 89

Authors: Karthik K. R, Viswanath V, Asraff A. K

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The first stage of a new-generation launch vehicle of ISRO makes use of large pressure vessels made of Aluminium alloy AA2219 to store fuel and oxidizer. These vessels have many weld joints that may contain cracks or crack-like defects during their fabrication. These defects may propagate across the vessel during pressure testing or while in service under the influence of tensile stresses leading to catastrophe. Though ductile materials exhibit significant stable crack growth prior to failure, it is not generally acceptable for an aerospace component. There is a need to predict the initiation of stable crack growth. The structural integrity of the vessel from fracture considerations can be studied by constructing the Failure Assessment Diagram (FAD) that accounts for both brittle fracture and plastic collapse. Critical crack sizes of the pressure vessel may be highly conservative if it is predicted from FAD alone. If the J-R curve for material under consideration is available apriori, the critical crack sizes can be predicted to a certain degree of accuracy. In this paper, a novel approach is proposed to predict the integrity of a weld in a pressure vessel made of AA2219 material. Fracture parameter ‘J-integral’ at the crack front, evaluated through finite element analyses, is used in the new procedure. Based on the simulation of tension tests carried out on SCT specimens by NASA, a cut-off value of J-integral value (J?ᵤₜ_ₒ??) is finalised. For the pressure vessel, J-integral at the crack front is evaluated through FE simulations incorporating different surface cracks at long seam weld in a cylinder and in dome petal welds. The obtained J-integral, at vessel level, is compared with a value of J?ᵤₜ_ₒ??, and the integrity of vessel weld in the presence of the surface crack is firmed up. The advantage of this methodology is that if SCT test data of any metal is available, the critical crack size in hardware fabricated using that material can be predicted to a better level of accuracy.

Keywords: FAD, j-integral, fracture, surface crack

Procedia PDF Downloads 166

Authors: Ebrahim Sabermaash Eshghi, Donna Sandsmark

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In changing modern economic conditions of the world, one the most important issues facing managers of firms, is increasing the sales and profitability through sales of newly developed products. This is while purpose of decreasing unnecessary costs is one of the most essential programs of smart managers for more implementation with new conditions in current business. In modern life, condition of misgiving is dominant in all of the industries. Accordingly, in this research, influence of different aspects of presenting products to the market is investigated. This study is done through a Quantitative-Qualitative (Interviews and Questionnaire) approach. In sum, 103 of informed managers and experts of Pars-Khazar Company have been examined through census. Validity of measurement tools was approved through judgments of experts. Reliability of tools was gained through Cronbach's alpha coefficient in size of 0.930 and in sum, validity and reliability of tools were approved generally. Results of regression test revealed that the influence of all aspects of product introduction supported the performance of product, positively and significantly. In addition that influence of two new factors raised from the interview, namely Human Resource Management and Management of product’s pre-test on performance of products was approved.

Keywords: introducing products, performance, home appliances, price, advertisement, production

Procedia PDF Downloads 196

Authors: Mohamed Aly, Aliaa Rehan Youssef, Emad Sawerees, Mounir Guirgis

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Relevance: Osteoarthritis (OA) is the most common degenerative disease seen in all populations. It causes disability and substantial socioeconomic burden. Evidence supports that exercise are the most effective conservative treatment for patients with OA. Therapists experience and clinical judgment play major role in exercise prescription and scientific evidence for this regard is lacking. The development of clinical prediction rules to identify patients who are most likely benefit from exercise may help solving this dilemma. Purpose: This study investigated whether body mass index and functional ability at baseline can predict patients’ response to a selected exercise program. Approach: Fifty-six patients, aged 35 to 65 years, completed an exercise program consisting of open kinetic chain strengthening and passive stretching exercises. The program was given for 3 sessions per week, 45 minutes per session, for 6 weeks Evaluation: At baseline and post treatment, pain severity was assessed using the numerical pain rating scale, whereas functional ability was being assessed by step test (ST), time up and go test (TUG) and 50 feet time walk test (50 FTW). After completing the program, global rate of change (GROC) score of greater than 4 was used to categorize patients as successful and non-successful. Thirty-eight patients (68%) had successful response to the intervention. Logistic regression showed that BMI and 50 FTW test were the only significant predictors. Based on the results, patients with BMI less than 34.71 kg/m2 and 50 FTW test less than 25.64 sec are 68% to 89% more likely to benefit from the exercise program. Conclusions: Clinicians should consider the described strengthening and flexibility exercise program for patents with BMI less than 34.7 Kg/m2 and 50 FTW faster than 25.6 seconds. The validity of these predictors should be investigated for other exercise.

Keywords: clinical prediction rule, knee osteoarthritis, physical therapy exercises, validity

Procedia PDF Downloads 395

Authors: Ali Bhayani

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The article analyses determinants of the market entry modes used by corporate firms to expand internationally and explore whether higher education institutions uses the same determinants to decide on mode adopted to enter the market. Determinants like transaction costs, location advantage, idiosyncratic capabilities, isomorphic pressure to mimic, psychic distance, uncertainty, risks, the control over academic process, previous internationalisation experience and entry to homogenous markets are considered with regards to universities. A sample consisting of 40+ branch campuses from United Arab Emirates (UAE), host to highest number of branch campuses, is selected to study the determinants of the entry modes adopted. The aim of this article is not to prescribe or offer a solution for the best-available model of market entry that can be adopted by universities but rather to act as a trigger for a critical check up on universities planning to internationalize their offering. Determinants like idiosyncratic capabilities, isomorphic pressure and control over the academic process were found to be most prevalent. However, determinants like transaction cost efficiency, internationalisation experience, psychic distance, uncertainty and risks are not significant factors.

Keywords: higher education, UAE, internationalisation, market entry, international branch campuses

Procedia PDF Downloads 325

Authors: Jim Shi, Jasmine Chang, Nesreen El-Rayes

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The world has been experiencing a steadily increasing trend in both the production and consumption of plastic. The global consumer revolution should not have been possible without plastic, thanks to its salient feature of inexpensiveness and durability. But, as a two-edged sword, its durable quality has returned to haunt and even jeopardized us. That exacerbating the plastic crisis has attracted various global initiatives and actions. Simultaneously, firms are eager to adopt new technology as they witness and perceive more potential and merit of Industry 4.0 technologies. For example, Blockchain technology (BCT) is drawing the attention of numerous stakeholders because of its wide range of outstanding features that promise to enhance supply chain operations. However, from a research perspective, most of the literature addresses the plastic crisis from either environmental or social perspectives. In contrast, analysis from the data science perspective and technology is relatively scarce. To this end, this study aims to fill this gap and cover the plastic crisis from a holistic view of environmental, social, technological, and business perspectives. In particular, we propose a mathematical model to examine the inclusion of BCT to enhance and improve the efficiency on the upstream and the downstream sides of the plastic value, where the whole value chain is coordinated systematically, and its interoperability can be optimized. Consequently, the Environmental, Social, and Governance (ESG) goal and Circular Economics (CE) sustainability can be maximized.

Keywords: blockchain technology, plastic, circular economy, sustainability

Procedia PDF Downloads 61

Authors: Sin Ying Tan, Mohammed Alloghani, A. J. Aljaaf, Abir Hussain, Jamila Mustafina

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Industry 4.0 is a term frequently used to describe the new upcoming industry era. Higher education institutions aim to prepare students to fulfil the future industry needs. Advancement of digital technology has paved the way for the evolution of education and technology. Evolution of education has proven its conservative nature and a high level of resistance to changes and transformation. The gap between the industry's needs and competencies offered generally by education is revealing the increasing need to find new educational models to face the future. The aim of this study was to identify the main issues faced by both universities and students in preparing the future workforce. From December 2018 to April 2019, a regional qualitative study was undertaken in Liverpool, United Kingdom (UK). Interviews were conducted with employers, faculty members and undergraduate students, and the results were analyzed using the open coding method. Four main issues had been identified, which are the characteristics of the future workforce, student's readiness to work, expectations on different roles played at the tertiary education level and awareness of the latest trends. The finding of this paper concluded that the employers and academic practitioners agree that their expectations on each other’s roles are different and in order to face the rapidly changing technology era, students should not only have the right skills, but they should also have the right attitude in learning. Therefore, the authors address this issue by proposing a learning framework known as 'ASK SUMA' framework as a guideline to support the students, academicians and employers in meeting the needs of 'Industry 4.0'. Furthermore, this technology era requires the employers, academic practitioners and students to work together in order to face the upcoming challenges and fast-changing technologies. It is also suggested that an interactive system should be provided as a platform to support the three different parties to play their roles.

Keywords: attitude, expectations, industry needs, knowledge, skills

Procedia PDF Downloads 106

Authors: Leizhang Wang, Baocang Wang

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General Sieve Kernel (G6K) is considered as currently the fastest algorithm for the shortest vector problem (SVP) and record holder of open SVP challenge. We study the lattice basis quality improvement effects of the Workout proposed in G6K, which is composed of a series of pumps to solve SVP. Firstly, we use a low-dimensional pump output basis to propose a predictor to predict the quality of high-dimensional Pumps output basis. Both theoretical analysis and experimental tests are performed to illustrate that it is more computationally expensive to solve the LWE problems by using a G6K default SVP solving strategy (Workout) than these lattice reduction algorithms (e.g. BKZ 2.0, Progressive BKZ, Pump, and Jump BKZ) with sieving as their SVP oracle. Secondly, the default Workout in G6K is optimized to achieve a stronger reduction and lower computational cost. Thirdly, we combine the optimized Workout and the Pump output basis quality predictor to further reduce the computational cost by optimizing LWE instances selection strategy. In fact, we can solve the TU LWE challenge (n = 65, q = 4225, = 0:005) 13.6 times faster than the G6K default Workout. Fourthly, we consider a combined two-stage (Preprocessing by BKZ- and a big Pump) LWE solving strategy. Both stages use dimension for free technology to give new theoretical security estimations of several LWE-based cryptographic schemes. The security estimations show that the securities of these schemes with the conservative Newhope’s core-SVP model are somewhat overestimated. In addition, in the case of LAC scheme, LWE instances selection strategy can be optimized to further improve the LWE-solving efficiency even by 15% and 57%. Finally, some experiments are implemented to examine the effects of our strategies on the Normal Form LWE problems, and the results demonstrate that the combined strategy is four times faster than that of Newhope.

Keywords: LWE, G6K, pump estimator, LWE instances selection strategy, dimension for free

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Authors: Jerry Gyimah, Ernest Kissi, Safowaa Osei-Tutu, Charles Dela Adobor, Theophilus Adjei-Kumi, Ernest Osei-Tutu

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Price fluctuation contract is imperative and of paramount essence, in the construction industry as it provides adequate relief and cushioning for changes in the prices of input resources during construction. As a result, several methods have been devised to better help in arriving at fair recompense in the event of price changes. However, stakeholders often appear not to be satisfied with the existing methods of fluctuation evaluation, ostensibly because of the challenges associated with them. The aim of this study was to identify the challenges to the usage of building construction cost indices in Ghana. Data was gathered from contractors and quantity surveying firms. The study utilized a survey questionnaire approach to elicit responses from the contractors and the consultants. Data gathered was analyzed scientifically, using the relative importance index (RII) to rank the problems associated with the existing methods. The findings revealed the following, among others, late release of data, inadequate recovery of costs, and work items of interest not included in the published indices as the main challenges of the existing methods. Findings provide useful lessons for policymakers and practitioners in decision making towards the usage and improvement of available indices.

Keywords: building construction cost indices, challenges, usage, Ghana

Procedia PDF Downloads 129

Authors: Hubert Pun

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When a manufacturer outsources the production of a product, it distributes its intellectual property (IP) into a supply chain that it may not be able to fully control. An IP agreement between a manufacturer and its suppliers is a popular solution to address the challenge of supplier-copycatting. The goal of this paper is to examine the impact of copycatting, from both the supplier and third-party firms, and the effectiveness of an IP agreement. Specifically, we use a game-theoretic approach to examine a system where a manufacturer outsources to a supplier. The supplier and a third-party firm decide whether or not to enter the market with copycat products while the manufacturer selects the level of marketing investment. The manufacturer can reduce the threat of supplier-copycatting by signing an IP agreement. We find that the manufacturer can be worse off from signing an IP agreement with its supplier, even if the IP agreement is costless and perfectly enforceable. We show that a manufacturer can deter copycat products through vertical integration and IP agreements and we outline the instances where each method is preferred. Furthermore, we find that the manufacturer may choose not to invest in quality improvements as a copycat deterrence strategy. We show that the supplier can benefit from the manufacturer’s decision to sign an IP agreement and that the supplier and the consumers can benefit from government regulations against copycat products. Our paper demonstrates the strengths and limitations of various copycat deterrence strategies when a supplier and third-party may produce copycat products.

Keywords: coopetitive supply chain, copycat, government regulation, intellectual property

Procedia PDF Downloads 160

Authors: Stanley Fore

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The case study company is one of the leading newsprint companies in South Africa. The company has achieved this status through operational expansion, diversification and investing in cutting-edge technology. They have a reputation for the highest quality and personalised service that transcends borders and industries. The company offers a wide variety of small and large scales printing services. The company is faced with the challenge of significant waste production during normal operations. The company generates 1200 kg of plastic waste and 60 – 70 tonnes of paper waste per month. The company operates a waste management process currently, whereby waste paper is sold, at low cost, to recycling firms for further processing. Having considered the quantity of waste being generated, the company has embarked on a venture to find a more profitable solution to its current waste production. As waste management and recycling is not the company’s core business, the aim of the venture is to implement a secondary profitable waste process business. The venture will be expedited as a strategic project. This research aims to estimate the financial feasibility of a selected solution as well as the impact of non-financial considerations thereof. The financial feasibility is analysed using metrics such as Payback period; internal rate of return and net present value.

Keywords: waste, printing industry, up-cycling, management

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Authors: Taimoor Hussain Alvi, Syed Toqueer Akhter

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The focus of this research is to identify Pak-India bilateral trade spillover effects upon Pakistan’s Growth rate. Cross-country spillover growth Effects have been linked with openness and access to markets. In this research, we intend to see the short run and long run effects of Pak-India Bilateral Trade Openness upon economic growth in Pakistan. Trade Openness has been measured as the sum of bilateral exports and imports between the two countries. Increased emphasis on the condition and environment of financial markets is laid in light of globalization and trade liberalization. This research paper makes use of the Univariate Autoregressive Distributed Lagged Model to analyze the effects of bilateral trade variables upon the growth pattern of Pakistan in the short run and long run. Key findings of the study empirically support the notion that increased bilateral trade will be beneficial for Pakistan in the short run because of cost advantage and knowledge spillover in terms of increased technical and managerial ability from multinational firms. However, contrary to extensive literature, increased bilateral trade measures will affect Pakistan’s growth rate negatively in the long run because of the industrial size differential and increased integration of Indian economy with the world.

Keywords: bilateral trade openness, spillover, comparative advantage, univariate

Procedia PDF Downloads 462

Authors: Nesreddine Djafar Henni, Akram Khelaifia, Salah Guettala, Rachid Chebili

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Reinforced concrete shear walls and vertical plate-like elements play a pivotal role in efficiently managing a building's response to seismic forces. This study investigates how the performance of reinforced concrete buildings equipped with shear walls featuring different shear wall-to-frame stiffness ratios aligns with the requirements stipulated in the Algerian seismic code RPA99v2003, particularly in high-seismicity regions. Seven distinct 3D finite element models are developed and evaluated through nonlinear static analysis. Engineering Demand Parameters (EDPs) such as lateral displacement, inter-story drift ratio, shear force, and bending moment along the building height are analyzed. The findings reveal two predominant categories of induced responses: force-based and displacement-based EDPs. Furthermore, as the shear wall-to-frame ratio increases, there is a concurrent increase in force-based EDPs and a decrease in displacement-based ones. Examining the distribution of shear walls from both force and displacement perspectives, model G with the highest stiffness ratio, concentrating stiffness at the building's center, intensifies induced forces. This configuration necessitates additional reinforcements, leading to a conservative design approach. Conversely, model C, with the lowest stiffness ratio, distributes stiffness towards the periphery, resulting in minimized induced shear forces and bending moments, representing an optimal scenario with maximal performance and minimal strength requirements.

Keywords: dual RC buildings, RC shear walls, modeling, static nonlinear pushover analysis, optimization, seismic performance

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Authors: Atcharawan Phenwansuk

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The product design is important to the development of SME towards the global, because it made to the quality product to react the needs of consumers and could reduces cost in the production, making it more profitable. As a results, the business are competition advantage for more marketing. It also enhance image of product and firms to build its own brand products to be acceptable. The product was designed should be shape, size, colorful, and direct of target consumers. This is method to add value products to get popular and effective, because the beauty is first satisfaction which come from main shape and color of the design product, but the product was designed need to hold data and law combination of shape and color between artistic theory and satisfaction of consumers together. The design must consider the safety of life and asset of consumers the most important. From to use of designed products should be to consider the cost savings, convenient distance, transportation, routes (land, water or air) of living space on transport (capacity, volume, width, length of the car, truck and container, etc). The packaging must be can to prevent not damage of the products. If products is more large , maybe to design new packaging, which can easily disassembled for make smaller package such as designing the assembly. Products must be packed in the container for size standard for save costs, as well as the buyer can make transport and assembly of products to fit easily on your own.

Keywords: logistics process , pineapple’s leaves product, product design, satisfaction of consumers

Procedia PDF Downloads 379

Authors: Guo Yan

Abstract:

Clothing recycling bin is a traditional way to collect textile waste in many areas. In the clothing recycling business, the transportation cost normally takes over 50% of total costs. This case gives a good way to reduce transportation cost by reverse logistics system. In this reverse logistics system, there are offline strategic alliance partners, such as transport firms, convenience stores, laundries, and post office which are integrated onto the mobile APP. Offline strategic alliance partners provide the service of textile waste collection, and transportation by their vacant vehicles return journey from convenience stores, laundries and post offices to sorting centers. The results of the case study provide the strategic alliance with a valuable and light - asset business model by using the logistics of offline memberships. The company in this case just focuses on textile waste sorting, reuse, recycling etc. The research method of this paper is a case study of a clothing recycling company in Chengdu by field research and interview; the analysis is based on the theory of the reverse logistics system.

Keywords: closed-loop recycles system, clothing recycling, end-of-life clothing, sharing economy, strategic alliance, reverse logistics.

Procedia PDF Downloads 129

Authors: Lucy Novianti

Abstract:

The purpose of this study is to determine the effect of corporate governance, ownership structure, and cash holdings on firm value, either direct or indirect through profitability as an intervening variable for non-financial companies listed on the Indonesia Stock Exchange during 2006 to 2014. Samples of 176 firms are chosen based on purposive sampling method. The results of this study conclude that profitability, the size of Audit Committee, audit quality, and cash flow have positive effects on firm value. This study also shows that the meeting frequency of the Board of Directors and free cash flow have negative effects on firm value. In addition, this study finds that the size of the Board of Directors, Independent Commissioner, and ownership structure do not have significant effects on firm value. In this study, the function of profitability as an intervening variable can only be done on the impact of the meeting frequency of the Board of Directors and cash flow on firm value. This study provides a reference for management in decision making concerning the application of corporate governance, cash holdings, and financial performance. Moreover, it can be used as additional information for investors in assessing the feasibility of an investment. Finally, it provides a suggestion for the government regarding the regulation of corporate governance.

Keywords: cash holdings, corporate governance, firm value, ownership structure, profitability

Procedia PDF Downloads 234

Authors: Adam N. Bell, Sarina J. Ergas, Michael Nystrom, Nathan P. Brennan, Kevan L. Main

Abstract:

Integrated Multi-Trophic Aquaculture systems (IMTA) have the potential to improve the sustainability of seafood production, generate organic fertilizer and feed, remove waste discharges and reduce energy use. IMTA can include periphyton biofilters where algae and microbes grow on surfaces, along with caught detritus and amphipods. Periphyton biofilters provide many advantages: nitrification, denitrification, primary production and ecological diversity. The goal of this study was to determine how biofilter hydraulic residence time (τ) effects periphyton biomass production, dissolved oxygen (DO) and nutrient removal. A pilot scale recirculating aquaculture system (RAS) was designed, constructed and operated at different hydraulic residence times (τ= 1, 2, 4, 6, 8 hours per tank). For each τ, a conservative tracer study was conducted to investigate system hydrodynamics. Data on periphyton weights, pH, nitrogen species, phosphorus, temperature and DO were collected. The tracer study for τ =1 hour revealed that the normalized time < τ, indicating short-circuiting. Periphyton biomass production rate was relatively unaffected by τ (R_e<1 for all τ). Average ammonia nitrogen removal was > 75% for all trials. Nitrate and nitrite did not accumulate in the RAS for τ≥4 hours due to enhanced denitrification in anoxic zones. For τ≥4 hours DO concentration was at a maximum of 4 mg L-1 after 14:00, and decreased to 0 mg L-1 during nighttime. At τ=1 hour, the RAS stayed > 2 mg L-1 and DO was more evenly distributed. For the validation trial, the culture tank was stocked with Centropomus undecimalis (common snook) and the system was operated at τ= 1 hr. Preliminary results showed that a RAS with an integrated periphyton biofilter could support fish health with low nutrient concentrations DO > 6 mg L-1.

Keywords: sustainable aquaculture, resource recovery, nitrogen, microalgae, hydrodynamics, integrated multi-trophic aquaculture

Procedia PDF Downloads 113

Authors: Aihong Zhao, Priya Sastry, Mark L Field, Mohamad Bashir, Arvind Singh, David Richens

Abstract:

Objectives: Intramural haematoma (IMH) is one of the pathologies, along with acute aortic dissection, that present as Acute Aortic Syndrome (AAS). Evidence suggests that unlike aortic dissection, some intramural haematomas may regress with medical management. However, intramural haematomas have been traditionally managed like acute aortic dissections. Given that some of these pathologies may regress with conservative management, it would be useful to be able to identify which of these may not need high risk emergency intervention. A computational aortic model was used in this study to try and identify intramural haematomas with risk of progression to aortic dissection. Methods: We created a computational model of the aorta with luminal blood flow. Reports in the literature have identified 11 mm as the radial clot thickness that is associated with heightened risk of progression of intramural haematoma. Accordingly, haematomas of varying sizes were implanted in the modeled aortic wall to test this hypothesis. The model was exposed to physiological blood flows and the stresses and strains in each layer of the aortic wall were recorded. Results: Size and shape of clot were seen to affect the magnitude of aortic stresses. The greatest stresses and strains were recorded in the intima of the model. When the haematoma exceeded 10 mm in all dimensions, the stress on the intima reached breaking point. Conclusion: Intramural clot size appears to be a contributory factor affecting aortic wall stress. Our computer simulation corroborates clinical evidence in the literature proposing that IMH diameter greater than 11 mm may be predictive of progression. This preliminary report suggests finite element modelling of the aortic wall may be a useful process by which to examine putative variables important in predicting progression or regression of intramural haematoma.

Keywords: intramural haematoma, acute aortic syndrome, finite element analysis,

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Authors: Mihaja Razafimbelo, Guillaume Herve-Secourgeon, Fabrice Gatuingt, Marina Bottoni, Tulio Honorio-De-Faria

Abstract:

The challenge of the research is to provide engineering with a robust, semi-automatic method for calculating optimal reinforcement for massive structural elements. In the absence of such a digital post-processing tool, design office engineers make intensive use of plate modelling, for which automatic post-processing is available. Plate models in massive areas, on the other hand, produce conservative results. In addition, the theoretical foundations of automatic post-processing tools for reinforcement are those of reinforced concrete beam sections. As long as there is no suitable alternative for automatic post-processing of plates, optimal modelling and a significant improvement of the constructability of massive areas cannot be expected. A method called strut-and-tie is commonly used in civil engineering, but the result itself remains very subjective to the calculation engineer. The tool developed will facilitate the work of supporting the engineers in their choice of structure. The method implemented consists of defining a ground-structure built on the basis of the main constraints resulting from an elastic analysis of the structure and then to start an optimization of this structure according to the fully stressed design method. The first results allow to obtain a coherent return in the first network of connecting struts and ties, compared to the cases encountered in the literature. The evolution of the tool will then make it possible to adapt the obtained latticework in relation to the cracking states resulting from the loads applied during the life of the structure, cyclic or dynamic loads. In addition, with the constructability constraint, a final result of reinforcement with an orthogonal arrangement with a regulated spacing will be implemented in the tool.

Keywords: strut and tie, optimization, reinforcement, massive structure

Procedia PDF Downloads 126

Authors: Abbas Pourreza

Abstract:

MicroRNAs (miRNAs) are small single-stranded non-coding RNAs. They are almost 18-25 nucleotides long and very conservative through evolution. They are involved in adjusting the expression of numerous genes due to the existence of a complementary region, generally in the 3' untranslated regions (UTR) of target genes, against particular mRNAs in the cell. Also, miRNAs have been proven to be involved in cell development, differentiation, proliferation, and apoptosis. More than 2000 miRNAs have been recognized in human cells, and these miRNAs adjust approximately one-third of all genes in human cells. Dysregulation of miRNA originated from abnormal DNA methylation patterns of the locus, cause to down-regulated or overexpression of miRNAs, and it may affect tumor formation or development of it. Breast cancer (BC) is the most commonly identified cancer, the most prevalent cancer (23%), and the second-leading (14%) mortality in all types of cancer in females. BC can be classified based on the status (+/−) of the hormone receptors, including estrogen receptor (ER), progesterone receptor (PR), and the Receptor tyrosine-protein kinase erbB-2 (ERBB2 or HER2). Currently, there are four main molecular subtypes of BC: luminal A, approximately 50–60 % of BCs; luminal B, 10–20 %; HER2 positive, 15–20 %, and 10–20 % considered Basal (triple-negative breast cancer (TNBC)) subtype. Aberrant expression of miR-145, miR-21, miR-10b, miR-125a, and miR-206 was detected by Stem-loop real-time RT-PCR in BC cases. Breast tumor formation and development may result from down-regulation of a tumor suppressor miRNA such as miR-145, miR-125a, and miR-206 and/or overexpression of an oncogenic miRNA such as miR-21 and miR-10b. MiR-125a, miR-206, miR-145, miR-21, and miR-10b are hugely predicted to be new tumor markers for the diagnosis and prognosis of BC. MiR-21 and miR-125a could play a part in the treatment of HER-2-positive breast cancer cells, while miR-145 and miR-206 could speed up the evolution of cure techniques for TNBC. To conclude, miRNAs will be presented as hopeful molecules to be used in the primary diagnosis, prognosis, and treatment of BC and battle as opposed to its developed drug resistance.

Keywords: breast cancer, HER2 positive, miRNA, TNBC

Procedia PDF Downloads 74