Search results for: market structure

Authors: Muhammad Yousaf Sadiq

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The complexity arises in defining the construction quality due to its perception, based on inherent market conditions and their requirements, the diversified stakeholders itself and their desired output. An quantitative survey based approach was adopted in this constructive study. A questionnaire-based survey was conducted for the assessment of construction Quality perception and expectations in the context of quality improvement technique. The survey feedback of professionals of the leading construction organizations/companies of Pakistan construction industry were analyzed. The financial capacity, organizational structure, and construction experience of the construction firms formed basis for their selection. The quality perception was found to be project-scope-oriented and considered as an excess cost for a construction project. Any quality improvement technique was expected to maximize the profit for the employer, by improving the productivity in a construction project. The study is beneficial for the construction professionals to assess the prevailing construction quality perception and the expectations from implementation of any quality improvement technique in construction projects.

Keywords: construction quality, expectation, improvement, perception

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Authors: Neeraj Kumar, J. P. Narayan

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The effects of multiple Structure-Soil-Structure Interactions (SSSI) on the seismic wave-field is generally disregarded by earthquake engineers, particularly the surface waves which cause more damage to buildings. Closely built high rise buildings exchange substantial seismic energy with each other and act as a full-coupled dynamic system. In this paper, SSI effects on the building responses and the free field motion due to a small city consisting 25- homogenous buildings blocks of 10-storey are quantified. The rocking and translational behavior of building under Rayleigh wave loading is studied for different dimensions of the building. The obtained dynamic parameters of buildings revealed a reduction in building roof drift with an increase in number of buildings ahead of the considered building. The strain developed by vertical component of Rayleigh may cause tension in structural components of building. A matching of fundamental frequency of building for the horizontal component of Rayleigh wave with that for vertically incident SV-wave is obtained. Further, the fundamental frequency of building for the vertical vibration is approximately twice to that for horizontal vibration. The city insulation has caused a reduction of amplitude of Rayleigh wave up to 19.3% and 21.6% in the horizontal and vertical components, respectively just outside the city. Further, the insulating effect of city was very large at fundamental frequency of buildings for both the horizontal and vertical components. Therefore, it is recommended to consider the insulating effects of city falling in the path of Rayleigh wave propagation in seismic hazard assessment for an area.

Keywords: structure-soil-structure interactions, Rayleigh wave propagation, finite difference simulation, dynamic response of buildings

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Authors: Jitendra Aswani

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

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

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Authors: Z. Aziz, S. Terkhi, Y. Sefir, R. Djelti, S. Bentata

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The effect of a uniform electric field across multi-barrier systems (InAs/InxGa1-xAs) is exhaustively explored by a computational model using exact Airy function formalism and the transfer-matrix technique. In the case of biased DFHBSL structure a strong reduction in transmission properties was observed and the width of the mini-band structure linearly decreases with the increase of the applied bias. This is due to the confinement of the states in the mini-band structure, which becomes increasingly important (Wannier-Stark Effect).

Keywords: dimer fibonacci height barrier superlattices, singular extended state, exact Airy function and transfer matrix formalism, bioinformatics

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Authors: Asim Quddus

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A miniaturized three dimensional co-planar waveguide (CPW) two-port MIMO antenna, exhibiting high isolation and WLAN band-notched characteristics is presented in this paper for ultrawideband (UWB) communication applications. The microstrip patch antenna operates as a single UWB antenna element. The proposed design is a cuboid-shaped structure having compact size of 35 x 27 x 45 mm³. Radiating as well as decoupling structure is placed around cuboidal polystyrene sheet. The radiators are 27 mm apart, placed Face-to-Face in vertical direction. Decoupling structure is placed on the side walls of polystyrene. The proposed antenna consists of an oval shaped radiating patch. A rectangular structure with fillet edges is placed on ground plan to enhance the bandwidth. The proposed antenna exhibits a good impedance match (S11 ≤ -10 dB) over frequency band of 2 GHz – 10.6 GHz. A circular slotted structure is employed as a decoupling structure on substrate, and it is placed on the side walls of polystyrene to enhance the isolation between antenna elements. Moreover, to achieve immunity from WLAN band distortion, a modified, inverted crescent shaped slotted structure is etched on radiating patches to achieve band-rejection characteristics at WLAN frequency band 4.8 GHz – 5.2 GHz. The suggested decoupling structure provides isolation better than 15 dB over the desired UWB spectrum. The envelope correlation coefficient (ECC) and gain for the MIMO antenna are analyzed as well. Finite Element Method (FEM) simulations are carried out in Ansys High Frequency Structural Simulator (HFSS) for the proposed design. The antenna is realized on a Rogers RT/duroid 5880 with thickness 1 mm, relative permittivity ɛr = 2.2. The proposed antenna achieves a stable omni-directional radiation patterns as well, while providing rejection at desired WLAN band. The S-parameters as well as MIMO parameters like ECC are analyzed and the results show conclusively that the design is suitable for portable MIMO-UWB applications.

Keywords: 3-D antenna, band-notch, MIMO, UWB

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Authors: Thomas Compton

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As Decolonialism becomes an important topic in Political Theory, the rupture between the colonized and the colonist relation has lost attention. Focusing on the anti-colonial activist Madhi Amel, we shall consider his attention to the permanence of the colonial relation and how it preempts Frank Wilderson’s formulation of (white) culturally necessary Anti-Black violence. Both projects draw attention away from empirical accounts of oppression, instead focusing on the structural relation which precipitates them. As Amel says that we should stop thinking of the ‘underdeveloped’ as beyond the colonial relation, Wilderson says we should stop think of the Black rights that have surpassed the role of the slave. However, Amel moves beyond his idol Althusser’s Structuralism toward a formulation of the colonial relation as source of domination. Our analysis will take a Lacanian turn in considering how this non-relation was formulated as a relation how this space of negativity became a ideological opportunity for Colonial domination. Wilderson’s work shall problematise this as we conclude with his criticisms of Structural accounts for the failure to consider how Black social death exists as more than necessity but a cite of white desire. Amel, a Lebanese activist and scholar (re)discovered by Hicham Safieddine, argues colonialism is more than the theft of land, but instead a privatization of collective property and form of investment which (re)produces the status of the capitalist in spaces ‘outside’ the market. Although Amel was a true Marxist-Leninsist, who exposited the economic determinacy of the Colonial Mode of Production, we are reading this account through Alenka Zupančič’s reformulation of the ‘invisible hand job of the market’. Amel points to the signifier ‘underdeveloped’ as buttressed on a pre-colonial epistemic break, as the Western investor (debt collector) sees the (post?) colony narcissistic image. However, the colony can never become site of class conflict, as the workers are not unified but existing between two countries. In industry, they are paid in Colonial subjectivisation, the promise of market (self)pleasure, at home, they are refugees. They are not, as Wilderson states, in the permanent social death of the slave, but they are less than the white worker. This is formulated as citizen (white), non-citizen (colonized), anti-citizen (Black/slave). Here we may also think of how indentured Indians were used as instruments of colonial violence. Wilderson’s aphorism “there is no analogy to anti-Black violence” lays bare his fundamental opposition between colonial and specifically anti-Black violence. It is not only that the debt collector, landowner, or other owners of production pleasures themselves as if their hand is invisible. The absolute negativity between colony and colonized provides a new frontier for desire, the development of a colonial mode of production. An invention inside the colonial structure that is generative of class substitution. We shall explore how Amel ignores the role of the slave but how Wilderson forecloses the history African anti-colonial.

Keywords: afropessimism, fanon, marxism, postcolonialism

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Authors: Wang Mimi, Jiang Changjun, Liu Guanjun, Fang Xianwen

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Loop structure often appears in the business process modeling, analyzing the consistency of corresponding workflow net models containing loop structure is a problem, the existing behavior consistency methods cannot analyze effectively the process models with the loop structure. In the paper, by analyzing five kinds of behavior relations of transitions, a three-dimensional figure and two-dimensional behavior relation matrix are proposed. Based on this, analysis method of behavior consistency of business process based on Petri net branching processes is proposed. Finally, an example is given out, which shows the method is effective.

Keywords: workflow net, behavior consistency measures, loop, branching process

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Authors: Seyran Naghdi

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Background: Orphan drug development is limited by very high costs attributed to the research and development and small size market. How health policymakers address this challenge to consider both supply and demand sides need to be explored for directing the policies and plans in the right way. The price is an important signal for pharmaceutical companies’ profitability and the patients’ accessibility as well. Objective: This study aims to find out the orphan drugs' price-setting patterns and approaches in health systems through a systematic review of the available evidence. Methods: The Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) approach was used. MedLine, Embase, and Web of Sciences were searched via appropriate search strategies. Through Medical Subject Headings (MeSH), the appropriate terms for pricing were 'cost and cost analysis', and it was 'orphan drug production', and 'orphan drug', for orphan drugs. The critical appraisal was performed by the Joanna-Briggs tool. A Cochrane data extraction form was used to obtain the data about the studies' characteristics, results, and conclusions. Results: Totally, 1,197 records were found. It included 640 hits from Embase, 327 from Web of Sciences, and 230 MedLine. After removing the duplicates, 1,056 studies remained. Of them, 924 studies were removed in the primary screening phase. Of them, 26 studies were included for data extraction. The majority of the studies (>75%) are from developed countries, among them, approximately 80% of the studies are from European countries. Approximately 85% of evidence has been produced in the recent decade. Conclusions: There is a huge variation of price-setting among countries, and this is related to the specific pharmacological market structure and the thresholds that governments want to intervene in the process of pricing. On the other hand, there is some evidence on the availability of spaces to reduce the very high costs of orphan drugs development through an early agreement between pharmacological firms and governments. Further studies need to focus on how the governments could incentivize the companies to agree on providing the drugs at lower prices.

Keywords: orphan drugs, orphan drug production, pricing, costs, cost analysis

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Authors: Seyed Sadegh Naseralavi, Sohrab Nemati, Ehsan Khojastehfar, Sadegh Balaghi

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In the present research, various formulations of wavelet transform are applied on acceleration time history of earthquake. The mentioned transforms decompose the strong ground motion into low and high frequency parts. Since the high frequency portion of strong ground motion has a minor effect on dynamic response of structures, the structure is excited by low frequency part. Consequently, the seismic response of structure is predicted consuming one half of computational time, comparing with conventional time history analysis. Towards reducing the computational effort needed in seismic optimization of structure, seismic optimization of a shear frame structure is conducted by applying various forms of mentioned transformation through genetic algorithm.

Keywords: time history analysis, wavelet transform, optimization, earthquake

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Authors: Salma Aboussalam, Karima Khalil, Khalid Elkalay

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To describe the structure, functioning, and state of the Moroccan Mediterranean Sea ecosystem, an Ecopath mass balance model has been applied. The model is based on 31 functional groups, containing 21 fishes, 7 invertebrates, 2 primary producers, and one dead group (detritus), which are considered in this work to explore the trophic interaction. The system's average trophic transfer efficiency was 23%. Both the total primary production and total respiration were calculated to be >1, suggesting that more energy is produced than respired in the system. The structure of our system is based on high respiration and consumption flows. Indicators of ecosystem stability and development showed low values of the Finn cycle index (13.97), system omnivory index (0.18), and average Finn path length (3.09), suggesting that our system is disturbed and has a more linear than web-like trophic structure. The keystone index and mixed trophic impact analysis indicated that other demersal invertebrates, zooplankton, and cephalopods had a tremendous impact on other groups and were recognized as keystone species.

Keywords: Ecopath, food web, trophic flux, Moroccan Mediterranean Sea

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Authors: G. Guramishvili, M. Moistsrapishvili, L. Andghuladze

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In the article are considered the problems arising at increasing of transferring from rolling stock axles on rail loading from 210 KN up to 270 KN and is offered for rail strength analysis definition of rail force loading complex integral characteristic with taking into account all affecting force factors that is characterizing specific operation condition of rail structure and defines the working capability of structure. As result of analysis due mentioned method is obtained that in the conditions of 270 KN loading the rail meets the working assessment criteria of rail and rail structures: Strength, rail track stability, rail links stability and its transverse stability, traffic safety condition that is rather important for post-Soviet countries railways.

Keywords: axial loading, rail force loading, rail structure, rail strength analysis, rail track stability

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Authors: S. Sadegzadeh, A. Mousavi

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Temperature-dependent tunable photonic crystals have attracted widespread interest in recent years. In this research, transmission characteristics of a one-dimensional photonic crystal structure with a single defect have been studied. Here, we assume two different defect layers: InSb as a semiconducting layer and HgBa₂Ca₂Cu₃O₁₀ as a high-temperature superconducting layer. Both the defect layers have temperature-dependent refractive indexes. Two different types of dielectric materials (Si as a high-refractive index dielectric and MgF₂ as a low-refractive index dielectric) are used to construct the asymmetric structures (Si/MgF₂)^NInSb(Si/MgF₂)^N named S.I, and (Si/MgF₂)^NHgBa₂Ca₂Cu₃O₁₀(Si/MgF₂)^N named S.II. It is found that in response to the temperature changes, transmission peaks within the photonic band gap of the S.II structure, in contrast to S.I, show a small wavelength shift. Furthermore, the results show that under the same conditions, S.I structure generates an extra defect mode in the transmission spectra. Besides high efficiency transmission property of S.II structure, it can be concluded that the semiconductor-dielectric photonic crystals are more sensitive to temperature variation than superconductor types.

Keywords: defect modes, photonic crystals, semiconductor, superconductor, transmission

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Authors: Katarina Živković, Ivana Joksimović

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Many different chemicals may occur in drinking water and cause significant human health risks after prolonged periods of exposure. In particular concern are contaminants that have cumulative toxic properties, such as heavy metals. This investigation was done to clarify concerns about chemical quality and safety of drinking tap water in Podgorica. For comparison, all available natural bottled water on Montenegrin market were bought. All samples (bottled water and tap water from Podgorica) were analyzed using ICP –OES on contents of Al, Cd, Pb, Cu, Zn,Cr, Fe, As and Mn. All results compared with the maximum concentration levels allowed by international standards and World Health Organization (WHO) guidelines. The results of analysis showed that all trace of heavy metals were very low and in same time below MCL according to WHO and International standard.

Keywords: inductively coupled plasma - optical emission spectrometry (ICP-OES), Montenegro (Podgorica), natural bottled water, tap water , trace of heavy metal

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Authors: Muhammad Tahir, Mushtaq Muhammad

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Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects.

Keywords: capital structure, multicollinearity, ordinary least square (OLS), panel data

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Authors: Feras Hanandeh, Izzat Alsmadi, Muhammad M. Kwafha

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Prefix trees or tries are data structures that are used to store data or index of data. The goal is to be able to store and retrieve data by executing queries in quick and reliable manners. In principle, the structure of the trie depends on having letters in nodes at the different levels to point to the actual words in the leafs. However, the exact structure of the trie may vary based on several aspects. In this paper, we evaluated different structures for building tries. Using datasets of words of different sizes, we evaluated the different forms of trie structures. Results showed that some characteristics may impact significantly, positively or negatively, the size and the performance of the trie. We investigated different forms and structures for the trie. Results showed that using an array of pointers in each level to represent the different alphabet letters is the best choice.

Keywords: data structures, indexing, tree structure, trie, information retrieval

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Authors: Shobhit Mittal

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Headcount budgeting stands as a pivotal element in organizational financial management, extending beyond traditional budgeting to encompass strategic resource allocation for workforce-related expenses. This process is integral to maintaining financial stability and fostering a productive workforce, requiring a comprehensive analysis of factors such as market trends, business growth projections, and evolving workforce skill requirements. It demands a collaborative approach, primarily involving Human Resources (HR) and finance departments, to align workforce planning with an organization's financial capabilities and strategic objectives. The dynamic nature of headcount budgeting necessitates continuous monitoring and adjustment in response to economic fluctuations, business strategy shifts, technological advancements, and market dynamics. Its significance in talent management is also highlighted, aligning financial planning with talent acquisition and retention strategies to ensure a competitive edge in the market. The consequences of incorrect headcount budgeting are explored, showing how it can lead to financial strain, operational inefficiencies, and hindered strategic objectives. Examining case studies like IBM's strategic workforce rebalancing and Microsoft's shift for long-term success, the importance of aligning headcount budgeting with organizational goals is underscored. These examples illustrate that effective headcount budgeting transcends its role as a financial tool, emerging as a strategic element crucial for an organization's success. This necessitates continuous refinement and adaptation to align with evolving business goals and market conditions, highlighting its role as a key driver in organizational success and sustainability.

Keywords: strategic planning, fiscal budget, headcount planning, resource allocation, financial management, decision-making, operational efficiency, risk management, headcount budget

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Authors: Piotr Podlipniak

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Social consolidation has often been indicated as an adaptive function of music which led to the evolution of music faculty. According to many scholars this function is possible thanks to musical rhythm that enables sensorimotor synchronization to a musical beat. The ability to synchronize to music allows performing music collectively which enhances social cohesion. However, the collective performance of music consists also in spectral synchronization that depends on musical pitch structure. Similarly to rhythmic synchronization, spectral synchronization is a result of ‘brain states alignment’ between people who collectively listen to or perform music. In order to successfully synchronize pitches performers have to adequately expect the pitch structure. The most common form of music which predominates among all human societies is tonal music. In fact tonality understood in the broadest sense as such an organization of musical pitches in which some pitch is more important than others is the only kind of musical pitch structure that has been observed in all currently known musical cultures. The perception of such a musical pitch structure elicits specific emotional reactions which are often described as tensions and relaxations. These facts provoke some important questions. What is the evolutionary reason that people use pitch structure as a form of vocal communication? Why different pitch structures elicit different emotional states independent of extra-musical context? It is proposed in the current presentation that in the course of evolution pitch structure became a human specific tool of communication the function of which is to induce emotional states such as uncertainty and cohesion. By the means of eliciting these emotions during collective music performance people are able to unconsciously give cues concerning social acceptance. This is probably one of the reasons why in all cultures people collectively perform tonal music. It is also suggested that tonal pitch structure had been invented socially before it became an evolutionary innovation of Homo sapiens. It means that a predisposition to tonally organize pitches evolved by the means of ‘Baldwin effect’ – a process in which natural selection transforms the learned response of an organism into the instinctive response. The hypothetical evolutionary scenario of the emergence of tonal pitch structure will be proposed. In this scenario social forces such as a need for closer cooperation play the crucial role.

Keywords: emotion, evolution, tonality, social consolidation

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Authors: I. Rodionov, A. Semenov, E. Gosteva, O. Sokolova

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Currently, the venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating prosperity of the modern economy. Actually, in Russia there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. Because of the research, the participation of investors with first-class reputation has a small impact on an indicator of the value of investment of the second round. The expected positive dependence of the second round investments on the forecasted market growth rate now of the deal is also rejected. So, the most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams which can attract more money on the start, and the target market growth is not the factor of crucial importance.

Keywords: venture industry, venture investment, determinants of the venture sector development, IT-sector

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Authors: Juan Manuel Sanchez-Cartas, Gonzalo Leon

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A price competition algorithm for ABMs based on game theory principles is proposed to deal with the simulation of theoretical market models. The algorithm is applied to the classical Hotelling’s model and to a two-sided market model to show it leads to the optimal behavior predicted by theoretical models. However, when theoretical models fail to predict the equilibrium, the algorithm is capable of reaching a feasible outcome. Results highlight that the algorithm can be implemented in other simulation models to guarantee rational users and endogenous optimal behaviors. Also, it can be applied as a tool of verification given that is theoretically based.

Keywords: agent-based models, algorithmic game theory, multi-sided markets, price optimization

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Authors: Divya Dharshini Omprakash, Anjali Subramani

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Most of the tall structures are constructed using shear walls and tube systems in the recent decades. This makes the structure heavy and less resistant to lateral effects as the height of the structure goes up. This paper aims in the reduction of self-weight in tall structures by the use of Taper Cladding System (TCS) and also enumerates the construction techniques used in TCS. TCS has a tapering clad either fixed at the top or bottom of the structural core at the tapered end. This system eliminates the use of RC structural elements on the exterior of the structure and uses fewer columns only on the interior part to take up the gravity loads in order to reduce the self-weight of the structure. The self-weight reduction by TCS is 50% more compared to the present structural systems. The lateral loads on the hull will be taken care of by the tapered steel frame. Analysis were done to study the structural behaviour of taper cladded buildings subjected to lateral loads. TCS has a great impact in the construction of tall structures in seismic and dense urban areas. An effective construction management can be done by the use of Taper Cladding System. In this paper, sustainability, design considerations and implications of the system has also been discussed.

Keywords: Lateral Loads Resistance, reduction of self-weight, sustainable, taper clads

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Authors: Emmanuel Dele Balogun

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This paper analyzes, using descriptive statistics and econometrics data which span the period 1981 to 2014 to gauge the effects of trade policy incentives on economic growth in Nigeria. It argues that the provided incentives penalize economic growth during pre-trade liberalization eras, but stimulated a rapid increase in total factor productivity during the post-liberalization period of 2000 to 2014. The trend analysis shows that Nigeria maintained high tariff walls in economic regulation eras which became low in post liberalization era. The protections were in favor of infant industries, which were mainly appendages of multinationals but against imports of competing food and finished consumer products. The trade openness index confirms the undue exposure of Nigeria’s economy to the vagaries of international market shocks; while banking sector recapitalization and new listing of telecommunications companies deepened the financial markets in post-liberalization era. The structure of economic incentives was biased in favor of construction, trade and services, but against the real sector despite protectionist policies. Total Factor Productivity (TFP) estimates show that the Nigerian economy suffered stagnation in pre-liberalization eras, but experienced rapid growth rates in post-liberalization eras. The regression results relating trade policy incentives to TFP growth rate yielded a significant but negative intercept suggesting that a non-interventionist policy could be detrimental to economic progress, while protective tariff which limits imports of competing products could spur productivity gains in domestic import substitutes beyond factor growth with market liberalization. The main constraint to the effectiveness of trade policy incentives is the failure of benefiting industries to leverage on the domestic factor endowments of the nation. This paper concludes that there is the need to review the current economic transformation strategies urgently with a view to provide policymakers with a better understanding of the most viable options that could make for rapid success.

Keywords: economic growth, macroeconomic incentives, total factor productivity, trade policies

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Authors: Sourabh Harihar, Henk Jan Verhagen

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The nurturing of a mangrove ecosystem requires a protected coastal environment with adequate drainage of the soil substratum. In a conceptual design undertaken for a mangrove rejuvenation project along the eastern coast of Mumbai (India), various engineering alternatives have been thought of as a protective coastal structure and drainage system. One such design uses bamboo-pile walls in creating shielded compartments in the form of various layouts, coupled with bamboo drains. The bamboo-based design is found to be environmentally and economically advantageous over other designs like sand-dikes which are multiple times more expensive. Moreover, employing a natural material such as bamboo helps the structure naturally blend with the developing mangrove habitat, allaying concerns about dismantling the structure post mangrove growth. A cost-minimising and eco-friendly bamboo structure, therefore, promises to pave the way for large rehabilitation projects in future. As mangrove ecosystems in many parts of the world increasingly face the threat of destruction due to urban development and climate change, protective nature-based designs that can be built in a short duration are the need of the hour.

Keywords: bamboo, environment, mangrove, rehabilitation

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Authors: K. Iskandar, N. H. Radzi, R. Aziz, M. S. Kamaruddin, M. N. Abdullah, S. A. Jumaat

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Nowadays many developing countries have been undergoing a restructuring process in the power electricity industry. This process has involved disaggregating former state-owned monopoly utilities both vertically and horizontally and introduced competition. The restructuring process has been implemented by the Australian National Electricity Market (NEM) started from 13 December 1998, began operating as a wholesale market for supply of electricity to retailers and end-users in Queensland, New South Wales, the Australian Capital Territory, Victoria and South Australia. In this deregulated market, one of the important issues is the transmission pricing. Transmission pricing is a service that recovers existing and new cost of the transmission system. The regulation of the transmission pricing is important in determining whether the transmission service system is economically beneficial to both side of the users and utilities. Therefore, an efficient transmission pricing methodology plays an important role in the Australian NEM. In this paper, the transmission pricing methodologies that have been implemented by the Australian NEM which are the Cost Reflective Network Pricing (CRNP) and Modified Cost Reflective Network Pricing (MCRNP) methods are investigated for allocating the transmission service charges to the transmission users. A case study using 6-bus system is used in order to identify the best method that reflects a fair and equitable transmission service charge.

Keywords: cost-reflective network pricing method, modified cost-reflective network pricing method, restructuring process, transmission pricing

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Authors: Min-Ming Wen

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Applying the U.S. lodging and tourism industry as a research sample, we examine the relation between the corporate governance structure and managerial risk-taking behavior. In light of the global financial crisis, the importance of effective governance structures is essential in protecting claimholder interests. We propose a governance structure consisting of shareholder governance measured by anti-takeover provisions to examine whether the governance structure has a significant impact on managerial risk-taking behaviors in terms of the investment policy. We will use capital expenditure and R&D investment to measure managerial risk-taking and the firm’s investment policy. In addition, we will examine whether the effects of governance on investment policy differ significantly between speculative and investment-grade firms.

Keywords: corporate governance, risk-taking, firm value, lodging industry

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Authors: Jerzy Bański

Abstract:

Central and Eastern European agriculture is characterized by large spatial variations in the structure of agricultural land and the structure of crops on arable land. In general, field crops predominate among the land used for agriculture. In the southern part of the study area, permanent crops have a relatively large share, which is due to favorable climatic conditions. Clear differences between the north and south of the region concern the structure of crop cultivation. In the north, the cultivation of cereals, mainly wheat, definitely prevails. In the south of the region, on the other hand, the structure of crops is more diverse, as more industrial crops are grown in addition to cereals. The primary cognitive objective of the study is to diagnose and identify the directions of changes in the structure of agricultural land use in the CEE region. Particular attention was paid to the spatial differentiation of this structure and its importance in its formation of various conditions. The analysis included the basic elements of the structure of agricultural land use and the structure of crops on arable land. The decrease in the area of arable land is characteristic of the entire region and is the result of the territorial growth of cities, the development of communications infrastructure (rail and road), and the increase in the rationality of crop production involving, among other things, the exclusion from the cultivation of land with the lowest agro-ecological values and their afforestation. It can be summarized that the directions of changes in the basic categories of agricultural land are related to agro-ecological conditions, which indicates an increase in the rationality of crop production. In countries with lower-quality of agricultural production space, the share of grassland generally increased, while in countries with favorable conditions -mainly soil- the share of arable land increased. As for the structure of field crops, the direction of its changes seems to be mainly due to economic and social reasons. Ownership changes shaping an unfavorable agrarian structure (fragmentation and fragmentation of arable fields) and the process of aging of the rural population resulted in the abandonment of resource- and labor-intensive crops. As a result, the importance of growing fruits and vegetables, and potatoes has declined. The structure of vegetable crops has been greatly influenced by the accession of Central and Eastern European countries to the European Union. This is primarily the increase in the importance of oil crops (rapeseed and sunflower) related to biofuel production. In the case of cereal crops, the main direction of change was the increase in the share of wheat at the expense of other cereal species.

Keywords: agriculture, land use, Central and Eastern Europe, crops, arable land

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Authors: Jian-Xiu Wan, Yao Yin

Abstract:

In complex terrain and poor geological conditions areas, Railway, highway and other transportation constructions are still strongly developing. However, various geological disasters happened such as landslide, rock heap and so on. According to the results of geological investigation, the form of skirt (trapezoidal), semicircle and triangle rock heaps are mainly due to complex internal force and external force, in a certain extent, which is related to the terrain, the nature of the rock mass, the supply area and the surface shape of rock heap. Combined with the above factors, discrete element numerical simulation of rock mass is established under different terrain conditions based on 3DEC, and accelerated formation process of rock heap under seismic action is simulated. The fragmentation structure supply area is calculated, in which the most dangerous area is located. At the same time, the formation mechanism and development process are studied in different terrain conditions, and the structure of rock heap is judged by section, which can provide a strong theoretical and technical support for the prevention and control of geological disasters.

Keywords: 3DEC, fragmentation structure, rock heap, slope, seismic action

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Authors: S. M. Hamidi, M. Afsharnia

Abstract:

Gas sensors based on magneto-plasmonic (MP) structures have attracted much attention due to the high signal to noise ratio in these type of sensors. In these sensors, both the plasmonic and the MO properties of the resulting MP structure become interrelated because the surface Plasmon resonance (SPR) of the metallic medium. This interconnection can be modified the sensor responses and enhanced the signal to noise ratio. So far the sensor features of multilayered structures made of noble and ferromagnetic metals as Au/Co/Au MP multilayer with TiO2 sensor layer have been extensively studied, but their SPR assisted sensor response need to the krestchmann configuration. Here, we present a systematic study on the new MP structure based on one-dimensional nano-grating Au/ Co/ Au/ TiO2 multilayer to utilize as an inexpensive and easy to use gas sensor.

Keywords: Magneto-plasmonic structures, Gas sensor, nano-garting

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Authors: A. K. Sarathe, N. P. Patidar

Abstract:

The Indian automobile sector is comprised of independent manufacturers and joint ventures with their foreign counterpart companies by making use of the Foreign Direct Investment policy of the Government of India. These manufacturers started capturing the hearts of Indian customers with their choice of technological and innovative product features, with quality and reliability. This transformed the automobile scene from a “sellers market to buyers market”. The potential benefits from the auto sector have been recognized by the planners, managers, and administrators of both the sectors –government and private. Generation of employment for the readily available technical workforce has been achieved not only through the manufacturers, but also through the growing ancillaries and service providers of the auto industries. The main purpose of this paper is to come up with the identification of possible working areas and associated job functions of mechanical and automobile diploma holders having employment opportunities in auto sector of India.

Keywords: automobile sector, diploma holder, employment, job description

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Authors: Kitti Supchukun, Kris Angkanaporn, Teerapong Yata

Abstract:

The product innovation using a nutraceutical delivery system on improving the growth performance of broilers is the product planning and development to solve the antibiotics banning policy incurred in the local and global livestock production system. Restricting the use of antibiotics can reduce the quality of chicken meat and increase pathogenic bacterial contamination. Although other alternatives were used to replace antibiotics, the efficacy was inconsistent, reflecting on low chicken growth performance and contaminated products. The product innovation aims to effectively deliver the selected active ingredients into the body. This product is tested on the pharmaceutical lab scale and on the farm-scale for market feasibility in order to create product innovation using the nutraceutical delivery system model. The model establishes the product standardization and traceable quality control process for farmers. The study is performed using mixed methods. Starting with a qualitative method to find the farmers' (consumers) demands and the product standard, then the researcher used the quantitative research method to develop and conclude the findings regarding the acceptance of the technology and product performance. The survey has been sent to different organizations by random sampling among the entrepreneur’s population including integrated broiler farm, broiler farm, and other related organizations. The mixed-method results, both qualitative and quantitative, verify the user and lead users' demands since they provide information about the industry standard, technology preference, developing the right product according to the market, and solutions for the industry problems. The product innovation selected nutraceutical ingredients that can solve the following problems in livestock; bactericidal, anti-inflammation, gut health, antioxidant. The combinations of the selected nutraceutical and nanostructured lipid carriers (NLC) technology aim to improve chemical and pharmaceutical components by changing the structure of active ingredients into nanoparticle, which will be released in the targeted location with accurate concentration. The active ingredients in nanoparticle form are more stable, elicit antibacterial activity against pathogenic Salmonella spp and E.coli, balance gut health, have antioxidant and anti-inflammation activity. The experiment results have proven that the nutraceuticals have an antioxidant and antibacterial activity which also increases the average daily gain (ADG), reduces feed conversion ratio (FCR). The results also show a significant impact on the higher European Performance Index that can increase the farmers' profit when exporting. The product innovation will be tested in technology acceptance management methods from farmers and industry. The production of broiler and commercialization analyses are useful to reduce the importation of animal supplements. Most importantly, product innovation is protected by intellectual property.

Keywords: nutraceutical, nano structure lipid carrier, anti-microbial drug resistance, broiler, Salmonella

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Authors: Jihoon Park, Sungkon Yu, Byungjo Jung

Abstract:

Although various optical tissue phantoms (OTPs) simulating human skin have been actively studied, their completeness is unclear because skin tissue has the intricate optical property and complicated structure disturbing the optical simulation. In this study, we designed multilayer OTP mimicking skin structure, and fabricated OTP models simulating skin-blood vessel and skin pigmentation in the skin, which are useful in Biomedical optics filed. The OTPs were characterized with the optical property and the cross-sectional structure, and analyzed by using various optical tools such as a laser speckle imaging system, OCT and a digital microscope to show the practicality. The measured optical property was within 5% error, and the thickness of each layer was uniform within 10% error in micrometer scale.

Keywords: blood vessel, optical tissue phantom, optical property, skin tissue, pigmentation

Procedia PDF Downloads 455