Search results for: free market

Authors: Alev Atak

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We study the endogeneity in the cryptocurrency market over the branching ratio of the Hawkes process and evaluate the movement of self-excitability in the financial markets. We consider a semi-parametric self-exciting point process regression model where the excitation function is assumed to be smooth and decreasing but otherwise unspecified, and the baseline intensity is assumed to be a linear function of the regressors. We apply the empirical analysis to the three largest crypto assets, i.e. Bitcoin - Ethereum - Ripple, and provide a comparison with other financial assets such as SP500, Gold, and the volatility index VIX observed from January 2015 to December 2020. The results depict variable and high levels of endogeneity in the basket of cryptocurrencies under investigation, underlining the evidence of a significant role of endogenous feedback mechanisms in the price formation process.

Keywords: hawkes process, cryptocurrency, endogeneity, reflexivity

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Authors: Bingying Liu, Dandong Ge, Xinlan Zhang, Haoyang Liang

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Over the past two years, a new generation of No-Pile Bike sharing, represented by the Ofo, Mobike and HelloBike, has sprung up in various cities in China, and spread rapidly in countries such as Britain, Japan, the United States and Singapore. As a new green public transportation mode, bike sharing can bring a series of benefits to urban space. At first, this paper analyzes the specific impact of bike sharing on urban space in China. Based on the market research and data analyzing, it is found that bike sharing can improve the quality of urban space in three aspects: expanding the radius of public transportation service, filling service blind spots, alleviating urban traffic congestion, and enhancing the vitality of urban space. On the other hand, due to the immature market and the imperfect system, bike sharing has gradually revealed some difficulties, such as parking chaos, malicious damage, safety problems, imbalance between supply and demand, and so on. Then the paper investigates the characteristics of shared bikes, business model, operating mechanism on Chinese market currently. Finally, in order to make bike sharing serve urban construction better, this paper puts forward some specific countermeasures from four aspects. In terms of market operations, it is necessary to establish a public-private partnership model and set up a unified bike-sharing integrated management platform. From technical methods level, the paper proposes to develop an intelligent parking system for regulating parking. From policy formulation level, establishing a bike-sharing assessment mechanism would strengthen supervision. As to urban planning, sharing data and redesigning slow roadway is beneficial for transportation and spatial planning.

Keywords: bike sharing, impact analysis, improvement strategy, urban space

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Authors: E. H. N. Gashti, J. Razzaghi, K. Kujala

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In general, codes and regulations consider seismic loads only for completed structures of the bridges while, evaluation of incomplete structure of bridges, especially those constructed by free cantilever method, under these loads is also of great importance. Hence, this research tried to study the behavior of incomplete structure of common bridge type (box girder bridge), in construction phase under vertical seismic loads. Subsequently, the paper provided suitable guidelines and solutions to withstand this destructive phenomena. Research results proved that use of preventive methods can significantly reduce the stresses resulted from vertical seismic loads in box cross sections to an acceptable range recommended by design codes.

Keywords: box girder bridges, prestress loads, free cantilever method, seismic loads, construction phase

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Authors: Siti Nurhidayah Naqiah Abdull Rani, Herlina Abdul Rahim, Rashidah Ghazali, Noramli Abdul Razak

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Near infrared (NIR) spectroscopy has always been of great interest in the food and agriculture industries. The development of prediction models has facilitated the estimation process in recent years. In this study, 110 crude palm oil (CPO) samples were used to build a free fatty acid (FFA) prediction model. 60% of the collected data were used for training purposes and the remaining 40% used for testing. The visible peaks on the NIR spectrum were at 1725 nm and 1760 nm, indicating the existence of the first overtone of C-H bands. Principal component regression (PCR) was applied to the data in order to build this mathematical prediction model. The optimal number of principal components was 10. The results showed R2=0.7147 for the training set and R2=0.6404 for the testing set.

Keywords: palm oil, fatty acid, NIRS, regression

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Authors: Apurva Patil, Sujatha Srinivasan

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Reducing actuator loads is important for applications in which human effort is required for actuation. The potential benefit of applying spring balancing to rehabilitation devices which work against gravity on a nonhorizontal plane is well recognized, but practical applications have been elusive. Although existing methods provide exact spring balance, they require additional masses or auxiliary links, or all the springs used originate from the ground, which makes the resulting device bulky and space-inefficient. This paper uses a method of static balancing of mechanisms with conservative loads such as gravity and spring loads using non-zero-free-length springs and no auxiliary links. Application of this method to a manually operated swimming pool lift mechanism which lowers and raises the physically challenged users into or out of the swimming pool is presented here. Various possible configurations using extension and compression springs as well as gas spring in the mechanism are compared. This work involves approximate spring balancing of the mechanism using minimization of potential energy variance. It uses the approach of flattening the potential energy distribution over the workspace and fuses it with numerical optimization. The results show the considerable reduction in actuator torque requirement with practical spring design and arrangement. Although the method provides only an approximate balancing, it is versatile, flexible in choosing appropriate control variables that are relevant to the design problem and easy to implement. The true potential of this technique lies in the fact that it uses a very simple optimization to find the spring constant, free length of the spring and the optimal attachment points subject to the optimization constraints. Also, it uses physically realizable non-zero-free-length springs directly, thereby reducing the complexity involved in simulating zero-free-length springs from non-zero-free-length springs. This method allows springs to be attached inside the mechanism, which makes the implementation of spring balancing practical. Because auxiliary linkages can be avoided, the resultant swimming pool lift mechanism is compact. The cost benefits and reduced complexity can be significant advantages in the development of this user-actuated swimming pool lift for developing countries.

Keywords: gas spring, rehabilitation device, spring balancing, swimming pool lift

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Authors: Fedil Jemal Ahmed

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This conference abstract paper presents a study that aimed to explore the impact of talent management and business skills on performance improvement in mini markets located in Johannesburg and Cape Town, South Africa. Mini markets are small retail stores that play a crucial role in providing essential goods and services to communities. However, due to their small size, they often face significant challenges in terms of resources and management. The study conducted interviews with mini market owners and managers in Johannesburg and Cape Town to understand their approach to talent management, business skills, and their impact on business performance. The results showed that effective talent management practices, including recruitment, training, and retention, along with strong business skills, had a significant positive impact on business performance in mini markets. Furthermore, the study found that the use of technology, such as point of sale systems and inventory management software, can also contribute to business performance improvement in mini markets. The results suggest that mini market owners and managers should prioritize talent management, business skills, and invest in technology to improve their business performance. Comparing the improvements made by mini markets in Johannesburg and Cape Town to those made by others, the study found that the adoption of effective talent management practices and strong business skills were key factors in driving performance improvement. Mini market owners and managers who invested in these areas were better equipped to manage their resources, enhance their customer service, and increase their profitability. When comparing the personal experiences of the fedil jemal who improved their business performance from a small market to a large one, they found that effective talent management practices and strong business skills were crucial in achieving success. Through the adoption of effective talent management practices, the fedil was able to attract and retain top talent, ensuring that the business was managed effectively. Furthermore, the fedil invested in improving their business skills, such as financial management, marketing, and customer service, which helped to increase their revenue and profitability. In terms of technology adoption, the author found that the use of point-of-sale systems and inventory management software were essential in managing their inventory and improving their customer service. By investing in technology, the fedil was able to streamline their operations and enhance their overall business performance. In conclusion, this study provides valuable insights into the importance of talent management, business skills, and technology adoption in improving business performance in mini markets. It highlights the need for mini market owners and managers to prioritize these areas and invest in them to enhance their business performance. The findings of this study have practical implications for mini market owners and managers who are looking to improve their business performance and compete in a highly competitive market. By adopting effective talent management practices, developing strong business skills, and investing in technology, mini market owners and managers can improve their operations and increase their profitability.

Keywords: talent management, business skills, technology adoption, mini markets

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Authors: Plessen Mogens Graf

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Within the context of multivariate time series segmentation, this paper proposes a method inspired by a posteriori optimal trading. After a normalization step, time series are treated channelwise as surrogate stock prices that can be traded optimally a posteriori in a virtual portfolio holding either stock or cash. Linear transaction costs are interpreted as hyperparameters for noise filtering. Trading signals, as well as trading signals obtained on the reversed time series, are used for unsupervised channelwise labeling before a consensus over all channels is reached that determines the final segmentation time instants. The method is model-free such that no model prescriptions for segments are made. Benefits of proposed approach include simplicity, computational efficiency, and adaptability to a wide range of different shapes of time series. Performance is demonstrated on synthetic and real-world data, including a large-scale dataset comprising a multivariate time series of dimension 1000 and length 2709. Proposed method is compared to a popular model-based bottom-up approach fitting piecewise affine models and to a recent model-based top-down approach fitting Gaussian models and found to be consistently faster while producing more intuitive results in the sense of segmenting time series at peaks and valleys.

Keywords: time series segmentation, model-free, trading-inspired, multivariate data

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Authors: Jin Sheng

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This paper addresses a promising area of insurance sector to develop in Asia. Captive insurance, which provides risk-mitigation services for its parent company, has great potentials to develop in energy, infrastructure, agriculture, logistics, catastrophe, and alternative risk transfer (ART), and will greatly affect the framework of insurance industry. However, the Asian captive insurance market only takes a small proportion in the global market. The recent supply chain interruption case of Hanjin Shipping indicates the significance of risk management for an Asian company’s sustainability and resilience. China has substantial needs and great potentials to develop captive insurance, on account of the currency volatility, enterprises’ credit risks, and legal and operational risks of the Belt and Road initiative. Up to date, Mainland Chinese enterprises only have four offshore captives incorporated by CNOOC, Sinopec, Lenovo and CGN Power), three onshore captive insurance companies incorporated by CNPC, China Railway, and COSCO, as well as one industrial captive insurance organization - China Ship-owners Mutual Assurance Association. Its captive market grows slowly with one or two captive insurers licensed yearly after September 2011. As an international financial center, Hong Kong has comparative advantages in taxation, professionals, market access and well-established financial infrastructure to develop a functional captive insurance market. For example, Hong Kong’s income tax for an insurance company is 16.5%; while China's income tax for an insurance company is 25% plus business tax of 5%. Furthermore, restrictions on market entry and operations of China’s onshore captives make establishing offshore captives in international or regional captive insurance centers such as Singapore, Hong Kong, and other overseas jurisdictions to become attractive options. Thus, there are abundant business opportunities in this area. Using methodology of comparative studies and case analysis, this paper discusses the incorporation, regulatory issues, taxation and prospect of captive insurance market in Hong Kong, China and Singapore. Hong Kong and Singapore are both international financial centers with prominent advantages in tax concessions, technology, implementation, professional services, and well-functioning legal system. Singapore, as the domicile of 71 active captives, has been the largest captive insurance hub in Asia, as well as an established reinsurance hub. Hong Kong is an emerging captive insurance hub with 5 to 10 newly licensed captives each year, according to the Hong Kong Financial Services Development Council. It is predicted that Hong Kong will become a domicile for 50 captive insurers by 2025. This paper also compares the formation of a captive in Singapore with other jurisdictions such as Bermuda and Vermont.

Keywords: Alternative Risk Transfer (ART), captive insurance company, offshore captives, risk management, reinsurance, self-insurance fund

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Authors: Diana Rymuszka, Konrad Terpiłowski, Lucyna Hołysz, Elena Goncharuk, Iryna Sulym

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Superhydrophobic surfaces exhibit extremely high water repellency. The commonly accepted basic criterion for such surfaces is a water contact angle larger than 150°, low contact angle hysteresis and low sliding angle. These surfaces are of special interest, because properties such as anti-sticking, anti-contamination and self-cleaning are expected. These properties are attractive for many applications such as anti-sticking of snow for antennas and windows, anti-biofouling paints for boats, waterproof clothing, self-cleaning windshields for automobiles, dust-free coatings or metal refining. The various methods for the preparation of superhydrophobic surfaces since last two decades have been reported, such as phase separation, electrochemical deposition, template method, plasma method, chemical vapor deposition, wet chemical reaction, sol-gel processing, lithography and so on. The aim of the study was to investigate the influence of modified colloidal silica, used as a filler, on the hydrophobicity of the polymer film deposited on the glass support activated with plasma. On prepared surfaces water advancing (ӨA) and receding (ӨR) contact angles were measured and then their total apparent surface free energy was determined using the contact angle hysteresis approach (CAH). The structures of deposited films were observed with the help of an optical microscope. Topographies of selected films were also determined using an optical profilometer. It was found that plasma treatment influence glass surface wetting and energetic properties that is observed in higher adhesion between polymer/filler film and glass support. Using the colloidal silica particles as a filler for the polymer thin film deposited on the glass support, it is possible to produce strongly adhering layers of superhydrophobic properties. The best superhydrophobic properties were obtained for surfaces of the film glass/polimer + modified silica covered in 89 and 100%. The advancing contact angle measured on these surfaces amounts above 150° that leads to under 2 mJ/m2 value of the apparent surface free energy. Such films may have many practical applications, among others, as dust-free coatings or anticorrosion protection.

Keywords: contact angle, plasma, superhydrophobic, surface free energy

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Authors: Kassem Saab, Fritzen Bart, Yves-Marie Seveque

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The deployment of Free Space Optical Communications (FSOC) systems requires the development of robust and reliable Optical Ground Stations (OGS) that can be easily installed and operated. To this end, the Engineering Department of Airbus Defence and Space is actively working on the development of innovative and compact OGS solutions that can be deployed in various environments and provide high-quality connectivity under different atmospheric conditions. This article presents an overview of our recent developments in this field, including an evaluation study of different use cases of the FSOC with respect to different atmospheric conditions. The goal is to provide OGS solutions that are both simple and highly effective, allowing for the deployment of high-speed communication networks in a wide range of scenarios.

Keywords: end to end optical communication, laser propagation, optical ground station, turbulence

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Authors: Nyiko M. Chauke, James Ramontja, Richard M. Moutloali

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The zeolite ZSM-22 material demonstrated effective hydrophilic character as a nanoadditive filler in the preparation of nanocomposite membranes. In this study, nanorods ZSM-22 zeolite materials were hydrothermally synthesised from a homogenous gel mixture prepared using different silica precursors: colloidal silica, fumed silica, tetraethylorthosilicate (TEOS), and aluminium precursor: aluminium sulphate octadecahydrate (Al₂(SO₄)₃.18H₂O to Si/Al of 60. This was focused on developing a defect-free zeolite framework for effective use in applications such as membrane separation process, adsorption, and catalysis. The obtained ZSM-22 zeolite materials with 60 Si/Al ratio exhibits high crystallinity, hydrophilicity, and needle-like morphologies, suggesting successful synthesis as shown by X-ray Diffraction (XRD), Brunauer-Emmett-Teller (BET), Fourier-Transform Infrared Spectroscopy (FTIR), Transmission Electron Microscopy (TEM) and Scanning Electron Microscopy (SEM) physicochemical analysis. It was revealed that the use of different nature of silica precursors significantly influenced the properties of the final product and contributed to the development of defect-free zeolite material. As such, the crystalline nanorods of Theta-1 (TON) ZSM-22 obtained from TEOS silica showed high phase purity, defect-free, and narrow particle size distribution. Morphological analysis exhibited that the use of TEOS as silica precursor was effective than its counterparts and produced high crystalline need-like agglomerated particles.

Keywords: silica precursor, hydrothermal synthesis, zeolite material, ZSM-22

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Authors: Samatha Ss Sutton, Kaouther Kooli

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In recent years social media influences (SMI) have become integrated into many companies marketing strategies to create buzz, target new and younger markets and further expand social media coverage in business (Lim et al 2017). SMI’s can be defined as online personalities with a substantial number of followers, across one or more social media platforms, with influence on their followers (Lou and Yuan 2018). Recently expenditure on influencer marketing has increased exponentially becoming an important area for marketing opportunities and strategies in the future (Lou and Yuan 2018). In order to market products and brands effectively through SMI’s it is important for business to understand the attributes of SMI that effect purchase intention (Lim et al 2017) of their followers and whether or not these attributes vary across generations so to market effectively to their specific segment or target market. The present study involves quantitative research to understand the attributes by which influence differs across generations namely Generation X and Millennials and its effects on purchase intentions of these generational groups. A survey will be conducted using an online questionnaire. Structural Equation Modelling and Multi group analysis will be applied. The study provides insight to marketers/decision makers on how to use influencers accordingly with their target consumer.

Keywords: social media marketing, social media influencers, attitude towards social media influencers, intention to purchase

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Authors: Ahmed Omar Bali, Sherko Jabar, Hazhar Jalal, Mahdi Sofi-Karim

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For a long while in Iraq, media organizations were owned by political parties, particularly the ruling parties, because media traditional organizations required big capital and human resources. This paper has examined the dynamics of Iraqi media market transformation with emphasizing on factors that help to merge media entrepreneurs and digital media firms which target audience on social media. A qualitative method was adopted in this study using open, in-depth interviews with 19 media entrepreneurs and three managers of media firms. The study revealed that relative freedom and advanced communication technologies have encouraged media entrepreneurs to drive the new media on producing short videos and broadcast them on social media which has become popular among media consumers.

Keywords: media entrepreneur, Iraq, journalists, media technicians, digital media firms, media market

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Authors: Kari Björn

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Introduction of games has expanded the application area of computer-aided learning tools to wide variety of age groups of learners. Serious games engage the learners into a real-world -type of simulation and potentially enrich the learning experience. Institutional background of a Bachelor’s level engineering program in Information and Communication Technology is introduced, with detailed focus on one of its majors, Health Technology. As part of a Customer Oriented Software Application thematic semester, one particular course of “eHealth Business and Solutions” is described and reflected in a gamified framework. Learning a consistent view into vast literature of business management, strategies, marketing and finance in a very limited time enforces selection of topics relevant to the industry. Health Technology is a novel and growing industry with a growing sector in consumer wearable devices and homecare applications. The business sector is attracting new entrepreneurs and impatient investor funds. From engineering education point of view the sector is driven by miniaturizing electronics, sensors and wireless applications. However, the market is highly consumer-driven and usability, safety and data integrity requirements are extremely high. When the same technology is used in analysis or treatment of patients, very strict regulatory measures are enforced. The paper introduces a course structure using gamification as a tool to learn the most essential in a new market: customer value proposition design, followed by a market entry game. Students analyze the existing market size and pricing structure of eHealth web-service market and enter the market as a steering group of their company, competing against the legacy players and with each other. The market is growing but has its rules of demand and supply balance. New products can be developed with an R&D-investment, and targeted to market with unique quality- and price-combinations. Product cost structure can be improved by investing to enhanced production capacity. Investments can be funded optionally by foreign capital. Students make management decisions and face the dynamics of the market competition in form of income statement and balance sheet after each decision cycle. The focus of the learning outcome is to understand customer value creation to be the source of cash flow. The benefit of gamification is to enrich the learning experience on structure and meaning of financial statements. The paper describes the gamification approach and discusses outcomes after two course implementations. Along the case description of learning challenges, some unexpected misconceptions are noted. Improvements of the game or the semi-gamified teaching pedagogy are discussed. The case description serves as an additional support to new game coordinator, as well as helps to improve the method. Overall, the gamified approach has helped to engage engineering student to business studies in an energizing way.

Keywords: engineering education, integrated curriculum, learning experience, learning outcomes

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Authors: F. Pagliara, F. Mauriello

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The objective of this paper is to investigate the relationship between the increase of accessibility brought by high speed rail (HSR) systems and the tourism market in Italy. The impacts of HSR projects on tourism can be quantified in different ways. In this manuscript, an empirical analysis has been carried out with the aid of a dataset containing information both on tourism and transport for 99 Italian provinces during the 2006-2016 period. Panel data regression models have been considered, since they allow modelling a wide variety of correlation patterns. Results show that HSR has an impact on the choice of a given destination for Italian tourists while the presence of a second level hub mainly affects foreign tourists. Attraction variables are also significant for both categories and the variables concerning security, such as number of crimes registered in a given destination, have a negative impact on the choice of a destination.

Keywords: tourists, overnights, high speed rail, attractions, security

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Authors: Jayanta Basak, Somprakash Bandyopadhyay, Parama Bhaumik, Siuli Roy

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To solve the life and livelihood related problems of socially and economically backward rural women in India, several Women Self-Help Groups (WSHG) are formed in Indian villages. WSHGs are micro-communities (with 10-to 15 members) within a village community. WSHGs have been conceived not just to promote savings and provide credit, but also to act as a vehicle of change through the creation of women micro-entrepreneurs at the village level. However, in spite of huge investment and volume of people involved in the whole process, the success is still limited. Most of these entrepreneurial activities happen in small household workspaces where sales are limited to the inconsistent and unpredictable local markets. As a result, these entrepreneurs are perennially trapped in the vicious cycle of low risk taking ability, low investment capacity, low productivity, weak market linkages and low revenue. Market separation including customer-producer separation is one of the key problems in this domain. Researchers suggest that there are four types of market separation: (i) spatial, (ii) financial, (iii) temporal, and (iv) informational, which in turn impacts the nature of markets and marketing. In this context, a large group of intermediaries (the 'middleman') plays important role in effectively reducing the factors that separate markets by utilizing the resource of rural entrepreneurs, their products and thus, accelerate market development. The rural entrepreneurs are heavily dependent on these middlemen for marketing of their products and these middlemen exploit rural entrepreneurs by creating a huge informational separation between the rural producers and end-consumers in the market and thus hiding the profit margins. The objective of this study is to develop a transparent, online communities of purpose among rural and urban entrepreneurs using internet and web 2.0 technologies in order to decrease market separation and improve mutual awareness of available and potential products and market demands. Communities of purpose are groups of people who have an ability to influence, can share knowledge and learn from others, and be committed to achieving a common purpose. In this study, a cluster of SHG women located in a village 'Kandi' of West Bengal, India has been studied closely for six months. These women are primarily engaged in producing garments, soft toys, fabric painting on clothes, etc. These women were equipped with internet-enabled smart-phones where they can use chat applications in local language and common social networking websites like Facebook, Instagram, etc. A few handicraft experts and micro-entrepreneurs from the city (the 'seed') were included in their mobile messaging app group that enables the creation of a 'community of purpose' in order to share thoughts and ideas on product designs, market trends, and practices, and thus decrease the rural-urban market separation. After six months of regular group interaction in mobile messaging app among these rural-urban community members, it is observed that SHG women are empowered now to share their product images, design ideas, showcase, and promote their products in global marketplace using some common social networking websites through which they can also enhance and augment their community of purpose.

Keywords: communities of purpose, market separation, self-help group, social technologies

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Authors: Adriana Radan Ungureanu

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The industrial landscape is changing due to the financial crises, poor availability of raw materials, new discoveries and interdisciplinary collaborations. New ideas shape the change through technologies and bring responses for a better life. The process of change is leaded by big players like states and companies, but they cannot keep their places on the market without the help of the small ones. The main tool of change is technology and the entire developed world dedicated efforts for decades in this direction. Even the expectations are not yet met, the research for finding adequate solutions is far from to be stopped. A relevant example is nanotechnology where most of discoveries still remain into laboratory and could not succeed to find the right way to the market. In front of this situation the right question could be: ”Is it worth investing in nanotechnology in the name of an uncertain future but with very little impact on present?” This paper tries to find a positive answer from a three-dimensional approach using a descriptive analyse based on available database supplied by the European case studies, reports, and literature.

Keywords: Europe, KET’s, nanotechnology, technology

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Authors: Agampodi Promoda Perera, Yong Shin, Mi Kyoung Park

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The successful detection of pathogenic bacteria in blood provides important information for early detection, diagnosis and the prevention and treatment of infectious diseases. Silicon microring resonators are refractive-index-based optical biosensors that provide highly sensitive, label-free, real-time multiplexed detection of biomolecules. We demonstrate the technique of using GO (graphene oxide) to enhance the signal output of the silicon microring optical sensor. The activated carboxylic groups in GO molecules bind directly to single stranded DNA with an amino modified 5’ end. This conjugation amplifies the shift in resonant wavelength in a real-time manner. We designed a capture probe for strain Staphylococcus aureus of 21 bp and a longer complementary target sequence of 70 bp. The mismatched target sequence we used was of Streptococcus agalactiae of 70 bp. GO is added after the complementary binding of the probe and target. GO conjugates to the unbound single stranded segment of the target and increase the wavelength shift on the silicon microring resonator. Furthermore, our results show that GO could successfully differentiate between the mismatched DNA sequences from the complementary DNA sequence. Therefore, the proposed concept could effectively enhance sensitivity of pathogen detection sensors.

Keywords: label free biosensor, pathogenic bacteria, graphene oxide, diagnosis

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Authors: S. A. Jumare, A. O. Tijani, M. F. Siraj, B. V. Babatunde

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This research investigated the comparative analysis of oil extracted from cotton and watermelon seeds using solvent extraction process. Normal ethyl-ether was used as solvent in the extraction process. The AOAC method of Analysis was employed in the determination of the physiochemical properties of the oil. The chemical properties of the oil determined include the saponification value, free fatty acid, iodine value, peroxide value and acid value. The physical properties of the oil determined include specific gravity, refractive index, colour, odour, taste and pH. The value obtained for cottonseed oil are saponification value (187mgKOH/g), free fatty acid (5.64mgKOH/g), iodine value (95.2g/100), peroxide value (9.33meq/kg), acid value (11.22mg/KOH/g), pH value (4.62), refractive index (1.46), and specific gravity (0.9) respectively, it has a bland odour, a reddish brown colour and a mild taste. The values obtained for watermelon seed oil are saponification value (83.3mgKOH/g), free fatty acid (6.58mg/KOH/g), iodine value (122.6g/100), peroxide value (5.3meq/kg), acid value (3.74mgKOH/g), pH value (6.3), refractive index (1.47), and specific gravity (0.9) respectively, it has a nutty flavour, a golden yellow colour and a mild taste. From the result obtained, it shows that cottonseed oil has high acid value which shows the stability of the oil and its stability to rancidity. Consequently, watermelon seed oil is order wise.

Keywords: extraction, solvent, cotton seeds, watermelon seeds

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Authors: Livy Febria Tedjamulia, Aas Nurasyiah, Ivana Josephin Purnama, Monika Diah Maharani Kusumastuti, Achmad Ridwan Ariyantoro

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Papua's candy is one of Indonesia’s indigenous consumption consisting of areca nut (Areca catechu), forest betel fruit (Piper aduncum), and CaCO3. This research aims to determine the concentration of tannins in areca nut, alkaloids in areca nut, flavonoids in forest betel fruit; detect their interaction and CaCO3; also toform a standardize consumption recommendation. The research methodwas includingDPPH assay for papua’s candy mixture, which resulted in IC50 value. Data analysis used is mathematical linear regression for each experiment. The test result of alkaloid is a Rf value of 0.773, while concentration of tannin and flavonoidare 0.603 mgGAE/g and 125.402 gQE/g, respectively. The IC50 value shows number of 3.0403, showing high antioxidant capacity.Other antioxidant assays were being studied using literature review, namely trolox and oxygen radical absorbance capacity, to figure out interaction among the bioactive compounds. It turned out that the interaction detected is antagonistic, which means the compound that is joined already has a stable molecular structure so that could reduce free radicals by donating hydrogen atoms. The recommendation consumptions given are 4 areca nuts, 5 forest betels, and 1 gram of lime betel. Therefore, papua's candy has its potential to be developed into functional food.

Keywords: antioxidant, bioactive compounds interaction, free radical, papua’s candy

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Authors: Babatope David Omoniyi, Fiona Lalor, Sinead Furey

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This ongoing project investigates the impact of Brexit on consumer perceptions of trust in the food industry. Brexit has significantly impacted the food industry, triggering a paradigm shift in the movement of food/agricultural produce, regulations, and cross-border collaborations between Great Britain, Northern Ireland, and the Republic of Ireland. In a world where the dynamics have shifted because of regulatory changes that impact trade and the free movement of foods and agricultural produce between these three countries, monitoring and controlling every stage of the food supply chain have become challenging, increasing the potential for food fraud and food safety incidents. As consumers play a pivotal role in shaping the market, understanding any shifts in trust post-Brexit enables them to navigate the market with confidence and awareness. This study aims to explore the complexities of consumer perceptions, focusing on trust as a cornerstone of consumer confidence in the post-Brexit food landscape. The objectives include comparing trust in official controls pre- and post-Brexit, determining consumer awareness of food fraud, and devising recommendations that reflect the evidence from this primary research regarding consumer trust in food authenticity post-Brexit. The research design follows an exploratory sequential mixed methods approach, incorporating qualitative methods such as focus groups and structured interviews, along with quantitative research through a large-scale survey. Participants from UCD and Ulster University campuses, comprising academic and non-academic staff, students, and researchers, will provide insights into the impact of Brexit on consumer trust. Preliminary findings from focus groups and interviews highlight changes in labelling, reduced quantity and quality of foods in both Northern Ireland and the Republic of Ireland, fewer food choices, and increased food prices since Brexit. The study aims to further investigate and quantify these impacts through a comprehensive large-scale survey involving participants from Northern Ireland and the Republic of Ireland. The results will inform official controls and consumer-facing messaging contributing valuable insights to navigate the evolving post-Brexit food landscape.

Keywords: Brexit, consumer trust, food fraud, food authenticity, food safety, food industry

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Authors: Haniza Ahmad, Norliza Saparin, Ahmadilfitri Md Noor, Mohd Suria Affandi Yusoff

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Enzymatic remediation is applied in low free fatty acid (FFA) (<4%) crude palm oil (CPO) to investigate if further FFA reduction is able to take place to produce premium CPO (<1% FFA). There are four different lipase Candida Antartica brands used in this study. Samples submit to enzymatic remediation using rotary evaporator under 100mbar vacuum with rotation at 260rpm. Samples were taken at 4hours, 8hours and 24hours for analyses. FFA less than 1% was achieved after 24hours reaction with 1% enzyme and 2% glycerol. The FFA reduction was intensified with the presence of glycerol who provides more sites for fatty acid attachment. At 2% glycerol, 71-88% FFA was reduced whereas at 1% glycerol, 46-75% FFA reduced. However, partial glycerides was increased with presence of glycerol with 2% add in glycerol showed greater partial glycerides increment compared to 1% glycerol.

Keywords: enzymes, crude palm oil, free fatty acid, glycerol

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Authors: Moshfeghi Sogand

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Free radicals can be produced during the respiratory oxidation of different cells. These free radicals can damage to various macromolecules as protein ,fat, nucleic acids and … are harmful for body. The natural defence system that can prevent the damage of free radicals and nuteralized them , have tittled under the name total antioxidant capacity (TAC ). Se is one main antioxidant part in TAC , because it is one main part in structure of some body antioxidant enzymes such as GPX(glutathione peroxidase). Blood SE ,GPX and TAC probably can change by feeding of different selenium supplement diet in late pregnancy and also may transport from maternal blood to its fetus or by clostrum after calving. In this respect we have determined 100 pregnant dairy cattle (in the same condition of age , race and number of parturient) then devided them to 4 groups feed them in 3 last pregnancy months by different selenium diets. Group1:controle no se supplementation , group2: recived 0/3 ppm of the daily diet Saccharomyces Cervisiae . group3 :recived selenium _ rich yeast(containing200ppm selenium)was mixed with total daily ration fed. Group4: recived se _rich yeast(containing300 ppm selenium)was mixed with total daily ration fed. Then measured blood SE,GPX and TAC levels in them and in 3 days newborn calves after calving. The results were analysed by Tukey Anova test and the highest level of blood SE ,GPX and TAC was shown in cattle that feed fermented SE_yeast diet and in their 3 days newborn calves.

Keywords: SE, TAC, SE DIETS, FRAP

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Gülşah Çelik Gül, Figen Kurtuluş

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Magnesium containing boron compounds with hexagonal structure have been drawn much attention due to their superconductive nature. The main target of this work is new modified microwave oven by on our own has an ability about passing through a gas in the oven medium for attainment of oxygen-free compounds such as c-BN.  Mg containing boride was synthesized by modified-microwave method under nitrogen atmosphere using amorphous boron and magnesium source in appropriate molar ratio. Microwave oven with oxygen free environment has been modified to aimed to obtain magnesium boride without oxygen. Characterizations were done by powder X-ray diffraction (XRD), and Fourier transform infrared (FTIR) spectroscopy. Mg containing boride, generally named magnesium boride, with amorphous character without oxygen is obtained via designed microwave oven system.

Keywords: magnesium containing boron compounds, modified microwave synthesis, powder X-ray diffraction, FTIR

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Authors: P. R. Maiti, S. K. Bhattacharyya

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Sloshing is a physical phenomenon characterized by the oscillation of unrestrained free surface of liquid in a partially liquid filled container subjected to external excitation. Determination of sloshing frequency in container is important to avoid resonance condition of the system. The complex behavior of the free surface movement and its combined mode of vibration make difficulty for exact analysis of sloshing. In the present study, numerical analysis is carried out for a partially liquid filled tank under external forces. Boundary element approach is used to formulate the sloshing problem in two -dimensional prismatic container with potential flow. Effort has been made to find slosh response for two dimensional problems in partially liquid filled prismatic container.

Keywords: sloshing, boundary element method, prismatic container, oscillation

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Authors: Ngo Xuan Quang, Tran Thanh Thai, Ann Vanreusel

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The Ba Lai dam construction was created in 2000 in the Ba Lai estuarine river, Ben Tre province, Vietnam to prevent marine water infiltration, drainage and de-acidification, and to build a reservoir of freshwater for land reclamation in the Ba Lai tributary. However, this dam is considered as an environmental failure for the originally connected estuarine and river ecosystem, especially to bad effect to benthic fauna distribution. This research aims to study applying free living nematode communities’ distribution in disturbance of dam construction as bioindicator to detect environmental impact. Nematode samples were collected together measuring physical–chemical environmental parameters such as chlorophyll, CPE, coliform, nutrient, grain size, salinity, dissolved oxygen, turbidity, conductivity, temperature in three stations within three replicates. Results showed that free living nematode communities at the dam construction was significantly low densities, low diversity (Hurlbert’s index, Hill diversity indices) and very low maturity index in comparison with two remaining stations. Strong correlation of nematode feeding types and communities’ structure was found in relation with sediment grain size and nutrient enrichment such nitrite, nitrate, phosphate and pigment concentration. Moreover, greatly negative link between nematode maturity index with nutrient parameters can serve as warning organic pollution of the Ba Lai river due to dam construction.

Keywords: Ba Lai, dam impact, nematode, environment

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Authors: Darren J. Ellis

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This paper investigates the key industry-level consequences and future prospects for the global airline industry of the requirement for airlines to have a home base. This industry context results in geographical location playing a central role in determining how and where international airlines can operate, and the extent to which their international networks can develop. Data from a five stage mixed-methods Delphi study into the global airline industry’s likely future trajectory conducted in 2013 and 2014 are utilized to better understand the likelihood and consequences of home base requirements changing in future. Expert views and forecasts were collected to gauge core industry trends over a ten year timeframe. Attempts to change or bypass this industry requirement have not been successful to date outside of the European single air market. Europe remains the only prominent exception to the general rule in this regard. Most of the industry is founded on air space sovereignty, the nationality rule, and the bilateral system of traffic rights. Europe’s exceptionalism has seen it evolve into a single air market with characteristics similar to a nation-state, rather than to become a force for wider industry change and regional multilateralism. Europe has indeed become a key actor in global aviation, but Europe seems to now be part of the industry’s status quo, not a vehicle for substantially wider multilateralism around the world. The findings from this research indicate that the bilateral system is not viewed by most study experts as disappearing or substantially weakening in the foreseeable future. However, regional multilateralism was also viewed as progressively taking hold in the industry in future, demonstrating that for most industry experts the two are not seen as mutually exclusive but rather as being able to co-exist with each other. This reality ensures that geographical location will continue to play an important role in the global airline industry in future and that, home base requirements will not disappear any time soon either. Even moves in some aviation jurisdictions to dilute nationality requirements for airlines, and instead replace ownership and control restrictions with principal place of business tests, do not ultimately free airlines from their home base. Likewise, an expansion of what constitutes home base to include a regional grouping of countries – again, a currently uncommon reality in global aviation – does not fundamentally weaken the continued relevance of geographical location to the global industry’s future growth and development realities and prospects.

Keywords: airline industry, air space sovereignty, geographical location, home base

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Authors: Juliana Osman, David Gilbert, Caroline Tan

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Innovation capability is recognized as a critical factor that contributes to promoting firm growth and wealth creation. While studies on innovation are in abundance, few empirical studies have been undertaken to examine the relationships of intellectual capital with innovation capability, and research investigating the combinations of strategic orientation dimensions is limited and virtually nothing in regard to the Malaysian context. This research investigates the impact of intellectual capital and three strategic orientations on the innovation capability and firm performance of Malaysian ICT SMEs. Data was collected from 213 firms relating to intellectual capital and the three strategic orientations; market orientation, learning orientation and technology orientation. Using partial least squares structural equation modelling (PLS-SEM) to analyse the data, results indicate that while market orientation has a direct negative relationship to firm performance, it is positively related to performance through the mediating effect of innovation capability. Learning orientation and technology orientation are mediated by innovation capability, while intellectual capital was found to be partially mediated by innovation capability. Findings indicate that firm performance is positively and significantly related to innovation capability and that market orientation, learning orientation, technology orientation and intellectual capital are all significant and positively related to innovation capability. The developed model indicates that Malaysian ICT SMEs would perform better with greater emphasis on developing innovation capability through enhancement of intellectual capital and the strategic orientations measured in this study.

Keywords: innovation capability, intellectual capital, strategic orientations, PLS-SEM

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Authors: Robert Birkholc

Abstract:

One of the basic issues related to the creation of characters in media, such as literature and film, is the representation of the characters' thoughts, emotions, and perceptions. This paper is devoted to the social perspective (or the focalization) expressed in film narration. The aim of the paper is to show how social point of view of the hero –conditioned by his origin and the environment from which he comes– can be created by using non-verbal, purely audiovisual means of expression. The issue will be considered on the example of the little-known polish movie The Dancing Hawk (1977) by Grzegorz Królikiewicz, based on the novel by Julian Kawalec. The thesis of the paper is that the polish director uses a narrative figure, which is somewhat analogous to literary form of free indirect discourse. In literature, free indirect discourse is formally ‘spoken’ by the external narrator, but the narration is clearly filtered through the language and thoughts of the character. According to some scholars (such as Roy Pascal), the narrator in this form of speech does not cite the character's words, but uses his way of thinking and imitates his perspective – sometimes with a deep irony. Free indirect discourse is frequently used in Julian Kawalec’s novel. Through the linguistic stylization, the author tries to convey the socially determined perspective of a peasant who migrates to the big city after the Second World War. Grzegorz Królikiewicz expresses the same social experience by pure cinematic form in the adaptation of the book. Both Kawalec and Królikiewicz show the consequences of so-called ‘social advancement’ in Poland after 1945, when the communist party took over political power. On the example of the fate of the main character, Michał Toporny, the director presents the experience of peasants who left their villages and had to adapt to new, urban space. However, the paper is not focused on the historical topic itself, but on the audiovisual form of the movie. Although Królikiewicz doesn’t use frequently POV shots, the narration of The Dancing Hawk is filtered through the sensations of the main character, who feels uprooted and alienated in the new social space. The director captures the hero's feelings through very complex audiovisual procedures – high or low points of view (representing the ‘social position’), grotesque soundtrack, expressionist scenery, and associative editing. In this way, he manages to create the world from the perspective of a socially maladjusted and internally split subject. The Dancing Hawk is a successful attempt to adapt the subjective narration of the book to the ‘language’ of the cinema. Mieke Bal’s notion of focalization helps to describe ‘free indirect discourse’ as a transmedial figure of representing of the characters’ perceptions. However, the polysemiotic medium of the film also significantly transforms this figure of representation. The paper shows both the similarities and differences between literary and cinematic ‘free indirect discourse.’

Keywords: film and literature, free indirect discourse, social experience, subjective narration

Procedia PDF Downloads 119