Search results for: debt to equity ratio

Authors: Seok Hong Min, Tae Kwon Ha

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High-temperature deformation behavior of ferritic stainless steels such as STS 409L, STS 430J1L, and STS 429EM has been investigated in this study. Specimens with fully annealed microstructure were obtained by heat treatment. A series of load relaxation tests has been conducted on these samples at temperatures ranging from 200 to 900oC to construct flow curves in the strain rate range from 10-6 s-1 to 10-3 s-1. Strain hardening was not observed at high temperatures above 800oC in any stainless steels. Load relaxation behavior at the temperature was closely related with high-temperature mechanical properties such as the thermal fatigue and tensile behaviors. Load drop ratio of 436L stainless steel was much higher than that of the other steels. With increasing temperature, strength and load drop ratio of ferritic stainless steels showed entirely different trends.

Keywords: ferritic stainless steel, high temperature deformation, load relaxation, microstructure, strain rate sensitivity

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Authors: Yang Xiao-Jun, Yu Tian-Hao, Hu Ying-Qi

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Breathing in foreign objects during the operation of the aircraft engine, impurities in the aircraft fuel and products of incomplete combustion can produce deposits on the surface of the turbine blades. These deposits reduce not only the turbine's operating efficiency but also the life of the turbine blades. Based on the small open wind tunnel, the simulation of deposits on the leading edge of the turbine has been carried out in this work. The effect of film cooling on particulate deposition was investigated. Based on the analysis, the adhesive mechanism for the molten pollutants’ reaching to the turbine surface was simulated by matching the Stokes number, TSP (a dimensionless number characterizing particle phase transition) and Biot number of the test facility and that of the real engine. The thickness distribution and growth trend of the deposits have been observed by high power microscope and infrared camera under different temperature of the main flow, the solidification temperature of the particulate objects, and the blowing ratio. The experimental results from the leading edge particulate deposition demonstrate that the thickness of the deposition increases with time until a quasi-stable thickness is reached, showing a striking effect of the blowing ratio on the deposition. Under different blowing ratios, there exists a large difference in the thickness distribution of the deposition, and the deposition is minimal at the specific blow ratio. In addition, the temperature of main flow and the solidification temperature of the particulate have a great influence on the deposition.

Keywords: deposition, experiment, film cooling, leading edge, paraffin particles

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Authors: Phong Nguyen, Phap Nguyen, Thang Nguyen

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High Efficiency Video Coding (HEVC) or H.265 Standard fulfills the demand of high resolution video storage and transmission since it achieves high compression ratio. However, it requires a huge amount of calculation. Since Motion Estimation (ME) block composes about 80 % of calculation load of HEVC, there are a lot of researches to reduce the computation cost. In this paper, we propose a new algorithm to lower the number of Motion Estimation’s searching points. The number of computing points in search pattern is down from 77 for Diamond Pattern and 81 for Square Pattern to only 31. Meanwhile, the Peak Signal to Noise Ratio (PSNR) and bit rate are almost equal to those of conventional patterns. The motion estimation time of new algorithm reduces by at 68.23%, 65.83%compared to the recommended search pattern of diamond pattern, square pattern, respectively.

Keywords: motion estimation, wide diamond, search pattern, H.265, test zone search, HM software

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Authors: Ahmet Erten, Adil Mustafa, Ayşenur Eser, Özlem Yalçın

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We present a new viscometer based on a microfluidic chip with elastic high aspect ratio micropillar arrays. The displacement of pillar tips in flow direction can be used to analyze viscosity of liquid. In our work, Computational Fluid Dynamics (CFD) is used to analyze pillar displacement of various micropillar array configurations in flow direction at different viscosities. Following CFD optimization, micro-CNC based rapid prototyping is used to fabricate molds for microfluidic chips. Microfluidic chips are fabricated out of polydimethylsiloxane (PDMS) using soft lithography methods with molds machined out of aluminum. Tip displacements of micropillar array (300 µm in diameter and 1400 µm in height) in flow direction are recorded using a microscope mounted camera, and the displacements are analyzed using image processing with an algorithm written in MATLAB. Experiments are performed with water-glycerol solutions mixed at 4 different ratios to attain 1 cP, 5 cP, 10 cP and 15 cP viscosities at room temperature. The prepared solutions are injected into the microfluidic chips using a syringe pump at flow rates from 10-100 mL / hr and the displacement versus flow rate is plotted for different viscosities. A displacement of around 1.5 µm was observed for 15 cP solution at 60 mL / hr while only a 1 µm displacement was observed for 10 cP solution. The presented viscometer design optimization is still in progress for better sensitivity and accuracy. Our microfluidic viscometer platform has potential for tailor made microfluidic chips to enable real time observation and control of viscosity changes in biological or chemical reactions.

Keywords: Computational Fluid Dynamics (CFD), high aspect ratio, micropillar array, viscometer

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Authors: Junya Kouwa, Shinsuke Matsuno, Chihiro Inoue, Takehiro Himeno, Toshinori Watanabe

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Bi-propellant thrusters use impinging jet atomization to atomize liquid fuel and oxidizer. Atomized propellants are mixed and combusted due to auto-ignitions. Therefore, it is important for a prediction of thruster’s performance to simulate the primary atomization phenomenon; especially, the local mixture ratio can be used as indicator of thrust performance, so it is useful to evaluate it from numerical simulations. In this research, we propose a numerical method for considering bi-liquid and the mixture and install it to CIP-LSM which is a two-phase flow simulation solver with level-set and MARS method as an interfacial tracking method and can predict local mixture ratio distribution downstream from an impingement point. A new parameter, beta, which is defined as the volume fraction of one liquid in the mixed liquid within a cell is introduced and the solver calculates the advection of beta, inflow and outflow flux of beta to a cell. By validating this solver, we conducted a simple experiment and the same simulation by using the solver. From the result, the solver can predict the penetrating length of a liquid jet correctly and it is confirmed that the solver can simulate the mixing of liquids. Then we apply this solver to the numerical simulation of impinging jet atomization. From the result, the inclination angle of fan after the impingement in the bi-liquid condition reasonably agrees with the theoretical value. Also, it is seen that the mixture of liquids can be simulated in this result. Furthermore, simulation results clarify that the injecting condition affects the atomization process and local mixture ratio distribution downstream drastically.

Keywords: bi-propellant thrusters, CIP-LSM, free-surface flow simulation, impinging jet atomization

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Authors: Mustofa Mahmud Al Mamun

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Government spending, one of the major components of gross domestic product (GDP), is composed of government consumption, investment, and transfer payments. A change in government spending during recessionary periods can generate an increase in GDP greater than the increase in spending. This is called the "multiplier effect". Accurate estimation of government spending multiplier is important because fiscal policy has been used to stimulate a flagging economy. Many recent studies have focused on identifying parts of the economy that responds more to a stimulus under a variety of circumstances. This paper used the US dataset from 1966 to 2020 and local projection method assuming standard identification strategy to estimate the multipliers. The model includes important macroaggregates and controls for forecasted government spending, interest rate, consumer price index (CPI), export, import, and level of public debt. Investment multipliers are found to be positive and larger than the consumption multipliers. Consumption multipliers are either negative or not significantly different than zero. Results do not vary across the business cycle. However, the consumption multiplier estimated from pre-1980 data is positive.

Keywords: business cycle, consumption multipliers, forecasted government spending, investment multipliers, local projection method, zero lower bound

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Authors: Deokyeong Choe, Jae Eun Nam, Young Hoon Roh, Chul Soo Shin

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The development of hydrogels with a high mechanical strength is important for numerous applications of hydrogels. As a material for tough hydrogels, cellulose has attracted much interest. However, cellulose cannot be melted and is very difficult to be dissolved in most solvents. Therefore, its dissolution in tetrabutylammonium fluoride/dimethyl sulfoxide (TBAF/DMSO) solvents has attracted researchers for chemical processing of cellulose. For this reason, studies about rheological properties of cellulose/TBAF/DMSO solution will provide useful information. In this study, viscosities of cellulose solutions prepared using different amounts of cellulose and TBAF in DMSO were measured. As expected, the viscosity of cellulose solution decreased with respect to the increasing volume of DMSO. The most viscose cellulose solution was achieved at a 1:1 mass ratio of cellulose to TBAF regardless of their contents in DMSO. At a 1:1 mass ratio of cellulose to TBAF, the formation of cellulose nanoparticles (467 nm) resulted in a dramatic increase in the viscosity, which led to the fabrication of 3D cellulose hydrogels.

Keywords: cellulose, TBAF/DMSO, viscosity, hydrogel

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Authors: Feng-Ming Fan, Xiu-Hui Wen, Po-Feng Chen, Yi-Ching Tu

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Because of inborn natural conditions and man-made sabotage, the water resources insufficient phenomenon in Taiwan is a very important issue needed to face immediately. The regulations and law of water resources protection and recycling are gradually completed now but still lack of specific water recycling effectiveness checking method. The research focused on the industrial parks that already had been certificated with EIA to establish a professional checking system, carry through and forge ahead to contribute one’s bit in water resources sustainable usage. Taiwan Government Policies of Environmental Impact Assessment established in 1994, some development projects were requested to set certain water recycling ratio for water resources effective usage. The water covers and contains everything because all-inclusive companies enter and be stationed. For control the execution status of industrial park water and waste water recycling ratio about EIA commitment effectively, we invited experts and scholars in this filed to discuss with related organs to formulate the policy and audit plan. Besides, call a meeting to set public version water equilibrium diagrams and recycles parameter. We selected nine industrial parks that were requested set certain water recycling ratio in EIA examination stage and then according to the water usage quantity, we audited 340 factories in these industrial parks with spot and documents examination and got fruitful results – the average water usage of unit area per year of all these examined industrial parks is 31,000 tons/hectare/year, the value is just half of Taiwan industries average. It is obvious that the industrial parks with EIA commitment can decrease the water resources consumption effectively. Taiwan government policies of Environmental Impact Assessment took follow though tracking function into consideration at the beginning. The results of this research verify the importance of the implementing with water recycling to save water resources in EIA commitment. Inducing development units to follow EIA commitment to get the balance between environmental protection and economic development is one of the important EIA value.

Keywords: Taiwan government policies of environmental impact assessment, water recycling ratio of EIA commitment, water resources sustainable usage, water recycling

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Authors: Mahdi Azizzadeh, Ali Nabizadeh

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This paper investigates whether ownership structure has significant effects on dividend policy and the percentage of cash dividend payout ratio in Iranian companies listed on the Tehran Stock Exchange. We use a sample of 300 firm-years for 2010-2014. Results indicate that there is no significant relationship between family ownership and/or institutional ownership and dividend policy. Furthermore, there is no significant relationship between dividend policies in family-owned firms with high or low institutional ownership. However, our empirical test shows that family firms with a low level of institutional investors distribute more cash dividends on average than family firms with a high level of institutional ownership.

Keywords: family ownership, institutional ownership, dividend policy, dividend payout ratio

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Authors: Jonghae Park, Daesung Kim

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The impact of aggressive and conservative working capital‘s strategies on the value and profitability of the firms has been evaluated by applying the panel data regression analysis. The control variables used in the regression models are natural log of firm size, sales growth, and debt. We collected a panel of 13,988 companies listed on the Korea stock market covering the period 2000-2016. The major findings of this study are as follow: 1) We find a significant negative correlation between firm profitability and the number of days inventory (INV) and days accounts payable (AP). The firm’s profitability can also be improved by reducing the number of days of inventory and days accounts payable. 2) We also find a significant positive correlation between firm profitability and the number of days accounts receivable (AR) and cash ratios (CR). In other words, the cash is associated with high corporate profitability. 3) Tobin's analysis showed that only the number of days accounts receivable (AR) and cash ratios (CR) had a significant relationship. In conclusion, companies can increase profitability by reducing INV and increasing AP, but INV and AP did not affect corporate value. In particular, it is necessary to increase CA and decrease AR in order to increase Firm’s profitability and value.

Keywords: working capital, working capital management, firm value, profitability

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Authors: You-Lin Wu, Zong-Xian Wu, Jing-Jenn Lin, Shih-Hung Lin

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In this work, a polysilicon wire (PSW) coated with a mixture of 3-aminopropyltriethoxysilane (r-APTES) and Al2O3 nanoparticles as the sensing membrane prepared with various Al2O3/r-APTES and dispersing agent/r-APTES ratios for pH sensing is studied. The r-APTES and dispersed Al2O3 nanoparticles mixture was directly transferred to PSW surface by solution phase deposition (SPD). It is found that using a mixture of Al2O3 nanoparticles and r-APTES as the sensing membrane help in improving the pH sensing of the PSW sensor and a 5 min SPD deposition time is the best. Dispersing agent is found to be necessary for better pH sensing when preparing the mixture of Al2O3 nanoparticles and r-APTES. The optimum condition for preparing the mixture is found to be Al2O3/r-APTES ratio of 2% and dispersing agent/r-APTES ratio of 0.3%.

Keywords: al2o3 nanoparticles, ph sensing, polysilicon wire sensor, r-aptes

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Authors: Meghdad Payan, Kostas Senetakis, Arman Khoshghalb, Nasser Khalili

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Dynamic properties of soils, especially at the range of very small strains, are of particular interest in geotechnical engineering practice for characterization of the behavior of geo-structures subjected to a variety of stress states. This study reports on the small-strain dynamic properties of sand-silt mixtures with particular emphasis on the effect of non-plastic fines content on the small strain shear modulus (Gmax), Young’s Modulus (Emax), material damping (Ds,min) and Poisson’s Ratio (v). Several clean sands with a wide range of grain size characteristics and particle shape are mixed with variable percentages of a silica non-plastic silt as fines content. Prepared specimens of sand-silt mixtures at different initial void ratios are subjected to sequential torsional and flexural resonant column tests with elastic dynamic properties measured along an isotropic stress path up to 800 kPa. It is shown that while at low percentages of fines content, there is a significant difference between the dynamic properties of the various samples due to the different characteristics of the sand portion of the mixtures, this variance diminishes as the fines content increases and the soil behavior becomes mainly silt-dominant, rendering no significant influence of sand properties on the elastic dynamic parameters. Indeed, beyond a specific portion of fines content, around 20% to 30% typically denoted as threshold fines content, silt is controlling the behavior of the mixture. Using the experimental results, new expressions for the prediction of small-strain dynamic properties of sand-silt mixtures are developed accounting for the percentage of silt and the characteristics of the sand portion. These expressions are general in nature and are capable of evaluating the elastic dynamic properties of sand-silt mixtures with any types of parent sand in the whole range of silt percentage. The inefficiency of skeleton void ratio concept in the estimation of small-strain stiffness of sand-silt mixtures is also illustrated.

Keywords: damping ratio, Poisson’s ratio, resonant column, sand-silt mixture, shear modulus, Young’s modulus

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Authors: Joseph Siani

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Over the last decades, dissatisfaction with global indicators of economic performance, such as GDP (Gross Domestic Product) per capita, has shifted the attention to what is now referred to as multidimensional poverty. In this framework, poverty goes beyond income to incorporate aspects of well-being not captured by income measures alone. This paper applies the totally fuzzy approach to estimate the fuzzy index of poverty (FIP) in fourteen Sub-Saharan African (SSA) countries using Demographic and Health Survey (DHS) data and explores whether pictures created by the standard headcount ratio at $1.90 a day and the fuzzy index of poverty tell a similar story. The results suggest that there is indeed considerable mismatch between poverty headcount and the fuzzy index of multidimensional poverty, meaning that the majority of the most deprived people (as identified by the fuzzy index of multidimensional poverty) would not be identified by the poverty headcount ratio. Moreover, we find that poverty is distributed differently by colonial heritage (language). In particular, the most deprived countries in SSA are French-speaking.

Keywords: fuzzy set approach, multidimensional poverty, poverty headcount, overlap, Sub-Saharan Africa

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Authors: Nima Valibeig, Haniyeh Mohammadi, Neda Sadat Abdelahi

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Persian domes follow different forms depending on the materials used to construct and other factors. One of the factors that shape the form of a dome is the geometric proportion used in the drawing and construction of the dome. Some commonly used proportions are revealed by analysing the shapes and geometric ratio of the monuments’ domes. The proportions are achieved by the proficiency of the skilled architects of the buildings. These proportions can be used to reconstruct damaged parts of the historical monuments. Most of the research on domes is about the historical or stability features of domes, and less attention is made to the geometric system in domes. Therefore, in this study, we study the explicit and implicit geometric proportions in Iranian dome structures for the first time. The study is done based on a literature review and field survey. This research reveals that the permanent geometric rules are perfectly used in the design and construction of the prominent domes.

Keywords: geometry in architecture, architectural proportions, prominent domes, iranian golden ratio, geometric proportion

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Authors: Siddharth Ahuja, T. M. Muruganandam

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An analytical investigation is performed to study the unsteady response of a one-dimensional, non-linear dynamic shock system to external downstream pressure perturbations in a supersonic flow in a varying area duct. For a given pressure ratio across a wind tunnel, the normal shock's location can be computed as per one-dimensional steady gas dynamics. Similarly, for some other pressure ratio, the location of the normal shock will change accordingly, again computed using one-dimensional gas dynamics. This investigation focuses on the small-time interval between the first steady shock location and the new steady shock location (corresponding to different pressure ratios). In essence, this study aims to shed light on the motion of the shock from one steady location to another steady location. Further, this study aims to create the foundation of the Unsteady Gas Dynamics field enabling further insight in future research work. According to the new pressure ratio, a pressure pulse, generated at the exit of the tunnel which travels and perturbs the shock from its original position, setting it into motion. During such activity, other numerous physical phenomena also happen at the same time. However, three broad phenomena have been focused on, in this study - Traversal of a Wave, Fluid Element Interactions and Wave Interactions. The above mentioned three phenomena create, alter and kill numerous waves for different conditions. The waves which are created by the above-mentioned phenomena eventually interact with the shock and set it into motion. Numerous such interactions with the shock will slowly make it settle into its final position owing to the new pressure ratio across the duct, as estimated by one-dimensional gas dynamics. This analysis will be extremely helpful in the prediction of inlet 'unstart' of the flow in a supersonic engine intake and its prominence with the incoming flow Mach number, incoming flow pressure and the external perturbation pressure is also studied to help design more efficient supersonic intakes for engines like ramjets and scramjets.

Keywords: analytical investigation, compression and expansion waves, fluid element interactions, shock trajectory, supersonic flow, unsteady gas dynamics, varying area duct, wave interactions

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Authors: Jam Harley

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The COVID-19 epidemic accelerated the speed of change in the workplace. Overnight, several individuals shifted from co-location in an office to hybrid or remote work. The pandemic also expedited and intensified the need to address persistent leadership and management concerns, including digital transformation, remote management, leading through fast change, anxiety, and uncertainty. Nonetheless, many leaders have failed to address the problems left behind by the epidemic. In a fundamental work devoted to comprehending what constitutes a human need, Maslow reiterates similar descriptors in his explanation of belongingness as the human need to be accepted, acknowledged, respected, and appreciated by a community of other individuals. This study aims to investigate the lived experiences of dispersed hybrid team members in order to find leadership best practices that improve team performance and retention through an increased individual’s sense of belonging.

Keywords: organizational change, belonging, diversity, equity

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Authors: Dina H. Gabr, Mona A. El Bannan

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With growing worldwide concern for global warming, green finance has become the fuel that pushes the world to act in combating and mitigating climate change. Coupled with adopting the Paris Agreement and the United Nations Sustainable Development Goals, Green finance became a vital tool in creating a pathway to sustainable development, as it connects the financial world with environmental and societal benefits. This paper provides a comprehensive review of the concepts and definitions of green finance and the importance of 'green' impact investments today. The core challenge in combating climate change is reducing and controlling Greenhouse gas emissions; therefore, this study explores the solutions green finance provides putting emphasis on the use of renewable energy, which is necessary for enhancing the transition to the green economy. With increasing attention to the concept of green finance, multiple forms of green investments and financial tools have come to fruition; the most prominent are green bonds. The rise of green bonds, a debt market to finance climate solutions, provide a promising mechanism for sustainable finance. Following the review, this paper compiles a comprehensive green bond dataset, presenting a statistical study of the evolution of the green bonds market from its first appearance in 2006 until 2021.

Keywords: climate change, GHG emissions, green bonds, green finance, sustainable finance

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Authors: Neeraj Sahu, Ahmad Saadiq

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Anaerobic sulphate reduction has the potential for being effective and economically viable over conventional treatment methods for the treatment of sulphate-rich wastewater. However, a major challenge in anaerobic sulphate reduction is the diversion of a fraction of organic carbon towards methane production and some minor problem such as odour problems, corrosion, and increase of effluent chemical oxygen demand. A high-rate anaerobic technology has encouraged researchers to extend its application to the treatment of complex wastewaters with relatively low cost and energy consumption compared to physicochemical methods. Therefore, the aim of this study was to investigate the effects of COD/SO₄²⁻ ratio on the performance of lab scale UASB reactor. A lab-scale upflow anaerobic sludge blanket (UASB) reactor was operated for 170 days. In which first 60 days, for successful start-up with acclimation under methanogenesis and sulphidogenesis at COD/SO₄²⁻ of 18 and were operated at COD/SO₄²⁻ ratios of 12, 8, 4 and 1 to evaluate the effects of the presence of sulfate on the reactor performance. The reactor achieved maximum COD removal efficiency and biogas evolution at the end of acclimation (control). This phase lasted 53 days with 89.5% efficiency. The biogas was 0.6 L/d at (OLR) of 1.0 kg COD/m³d when it was treating synthetic wastewater with effective volume of reactor as 2.8 L. When COD/SO₄²⁻ ratio changed from 12 to 1, slight decrease in COD removal efficiencies (76.8–87.4%) was observed, biogas production decreased from 0.58 to 0.32 L/d, while the sulfate removal efficiency increased from 42.5% to 72.7%.

Keywords: anaerobic, chemical oxygen demand, organic loading rate, sulphate, up-flow anaerobic sludge blanket reactor

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Authors: Nunyong Fuengkajornfung, Pattama Hirunyophat, Tidarat Sanphom

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The objectives of this research were: To study of the recipe standard of Thai steamed dumpling, to study the ratio of modified starch in Thai steamed dumpling, to study chemical elements analyzing and Escherichia coli in Thai steamed dumpling. The experimental processes were designed in two stages as follows: To study the recipe standard of Thai steamed dumpling and to study the ratio of rice flour: modify starch by three levels 90:10, 73:30, and 50:50. The evaluation test used 9 Points Hedonic Scale method by the sensory evaluation test such as color, smell, taste, texture and overall liking. An experimental by Randomized Complete Block Design (RCBD). The statistics used in data analyses were means, standard deviation, one-way ANOVA and Duncan’s New Multiple Range Test. Regression equation, at a statistically significant level of .05. The results showed that the recipe standard was studied from three recipes by the sensory evaluation test such as color, odor, taste, spicy, texture and total acceptance. The result showed that the recipe standard of second was suitably to development. The ratio of rice flour: modified starch had 3 levels 90:10, 73:30, and 50:50 which the process condition of 50:50 had well scores (like moderately to like very much; used 9 Points Hedonic Scale method for the sensory test). Chemical elements analyzing, it showed that moisture 58.63%, fat 5.45%, protein 4.35%, carbohydrate 30.45%, and Ash 1.12%. The Escherichia coli is not found in lab testing.

Keywords: Thai snack in Rattanakosin era, Thai steamed dumpling, modify starch, recipe standard

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Authors: Robert G. Nini

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The quality of road pavement is affected mostly by the type of sub-grade which is acting as road foundation. The roads degradation is related to many factors especially the climatic conditions, the quality, and the thickness of the base materials. The thickness of this layer depends on its California Bearing Ratio (CBR) test value which by its turn is highly affected by the quantity of water infiltrated under the road after heavy rain. The capacity of the base material to drain out its water is predominant factor because any change in moisture content causes change in sub-grade strength. This paper studies the effect of the soaking period of soil especially clay on its CBR value. For this reason, we collected many clayey samples in order to study the effect of the soaking period on its CBR value. On each soil, two groups of experiments were performed: main tests consisting of Proctor and CBR test from one side and from other side identification tests consisting of other tests such as Atterberg limits tests. Each soil sample was first subjected to Proctor test in order to find its optimum moisture content which will be used to perform the CBR test. Four CBR tests were performed on each soil with different soaking period. The first CBR was done without soaking the soil sample; the second one with two days soaking, the third one with four days soaking period and the last one was done under eight days soaking. By comparing the results of CBR tests performed with different soaking time, a more detailed understanding was given to the role of the water in reducing the CBR of soil. In fact, by extending the soaking period, the CBR was found to be reduced quickly the first two days and slower after. A precise reduction factor of the CBR in relation with soaking period was found at the end of this paper.

Keywords: California Bearing Ratio, clay, proctor test, soaking period, sub-grade

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Authors: Ivana Bulog, Ana Rimac Smiljanić, Sandra Pepur

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The financial fragility of households has received increased attention following the recent health crisis, which has created uncertainty and caused increased levels of stress and consequently impaired individual and family well-being. Job losses and/or reduced wages and insecurity increased the number of people that were unable to meet unexpected expenses, which, in many cases, led to increased household debt levels. This presents a threat to the stability of the financial system and the whole economy; therefore, reducing financial fragility and improving financial literacy present challenges for academicians, practitioners, and policymakers. Concerning financial fragility, significant research attention has been devoted to financial knowledge and financial literacy. However, apart from specific knowledge, personal characteristics are of great importance in making financial decisions in the household. Self-efficacy is one of the personal non-cognitive attributes that is a valuable framework for understanding how household financial decisions are made. Thus, this research proposes that individual levels of financial literacy and self-efficacy are related to the indebtedness and financial instability of the household. The primary data were collected using a structured, self-administered online questionnaire, and a snowball sampling method was applied to reach the participants. Preliminary results confirm our assumptions on the influence of financial literacy and self-efficacy on household financial stability.

Keywords: financial literacy, self-efficacy, household financial fragility, well-being

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Authors: Ahmed BenSaïda

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This paper investigates the association between financial technology (FinTech) growth and bank performance in the Gulf Cooperation Council (GCC) region. Application is conducted on a panel dataset containing the annual observations of banks covering the period from 2012 to 2021. FinTech growth is set as an explanatory variable on three proxies of bank performance. These proxies are the return on assets (ROA), return on equity (ROE), and net interest margin (NIM). Moreover, several control variables are added to the model, including bank-specific and macroeconomic variables. The results are significant as all the proxies of the bank performance are negatively affected by the growth of FinTech startups. Consequently, banks are urged to proactively invest in FinTech startups and engage in partnerships to avoid the risk of disruption.

Keywords: financial technology, bank performance, GCC countries, panel regression

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Authors: David Wuepper, Marc Patry

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UNESCO’s World Heritage program requests the inscribed locations to promote the World Heritage brand by clearly presenting information about it on-site. Based on feedback from over 319,000 visitors at 791 locations, we create an index that shows how much the World Heritage sites actually brand themselves as such. We find great heterogeneity throughout the list and explain this econometrically mostly with the economic benefit for the sites but also with cultural brand preferences, which are highest in Asia, followed by Europe and North America. We also find a positive relationship between World Heritage branding and conservation status and a U-shaped relationship between visitor numbers and WH branding. Based on our findings, we recommend to make clear World Heritage branding mandatory for all sites.

Keywords: UNESCO World Heritage, collective brand, cultural tourism, heritage conservation, brand equity, spatial econometrics

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Authors: Asaad Pireh

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The Zagros fold and thrust belt is one of the most active seismic zones of Iran where hosts many people and considerable oil and gas resources. The Zagros fold and thrust belt, based on its stratigraphy has been divided into three provinces. Mechanical stratigraphy of these provinces is different together. Statistical analyses all of earthquakes which has happened in the Zagros fold and thrust belt from 1964 up to December 2014, shows that strong earthquakes have occurred within the southeastern part of these subdivisions which has a smaller ratio of incompetent to competent thickness and in the northwestern part of these subdivisions which has a greater ratio of incompetent to competent thickness has occurred the weakest earthquakes. The southeastern part of the Zagros has a higher seismic risk and northwestern part of these fold belt have a lower seismic risk.

Keywords: earthquake, mechanical stratigraphy, seismic risk, Zagros

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Authors: Ehsan Atefi, Michael Grigware

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Respiratory failure secondary to surfactant deficiency resulting from respiratory distress syndrome is considered one major cause of morbidity in preterm infants. Surfactant replacement treatment (SRT) is considered an effective treatment for this disease. Here, we introduce an AI-mediated approach for estimating the distribution of surfactant in the lung airway of a newborn infant during SRT. Our approach implements machine learning to precisely estimate the splitting ratio of a liquid drop during bifurcation at different injection velocities and patient orientations. This technique can be used to calculate the surfactant residue remaining on the airway wall during the surfactant injection process. Our model works by minimizing the pressure drop difference between the two airway branches at each generation, subject to mass and momentum conservation. Our platform can be used to generate feedback for immediately adjusting the velocity of injection and patient orientation during SRT.

Keywords: respiratory failure, surfactant deficiency, surfactant replacement, machine learning

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Authors: Milad Zoghi, M. Zahangir Kabir

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Performance of armchair graphene nanoribbon (AGNR) resonant tunneling diodes (RTD) alter if they go under strain. This may happen due to either using stretchable substrates or real working conditions such as heat generation. Therefore, it is informative to understand how mechanical deformations such as uniaxial strain can impact the performance of AGNR RTDs. In this paper, two platforms of AGNR RTD consist of width-modified AGNR RTD and electric-field modified AGNR RTD are subjected to both compressive and tensile uniaxial strain ranging from -2% to +2%. It is found that characteristics of AGNR RTD markedly change under both compressive and tensile strain. In particular, peak to valley ratio (PVR) can be totally disappeared upon strong enough strain deformation. Numerical tight binding (TB) coupled with Non-Equilibrium Green's Function (NEGF) is derived for this study to calculate corresponding Hamiltonian matrices and transport properties.

Keywords: armchair graphene nanoribbon, resonant tunneling diode, uniaxial strain, peak to valley ratio

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Authors: Nurcan Cetinkaya, Nadide Hulya Ozdemir

Abstract:

The aim of the study was to investigate the effect of Saccharomyces cerevisiae (SC) live yeast culture on microbial protein supply to the small intestine in Kivircik male yearlings when fed with different ratio of forage and concentrate diets. Four Kivircik male yearlings with permanent rumen canula were used in the experiment. . The treatments were allocated to a 4x4 Latin square design. Diet I consisted of 70% alfalfa hay and 30% concentrate, Diet II consisted of 30% alfalfa hay and 70% concentrate, Diet I and II were supplemented with a SC. Daily urine was collected and stored at -20°C until analysis. Calorimetric methods were used for the determination of urinary allantoin and creatinin levels. The estimated microbial N supply to small intestine for Diets I, I+SC, II and II+SC were 2.51, 2.64, 2.95 and 3.43 g N/d respectively. Supplementation of Diets I and II with SC significantly affected the allantoin levels in µmol/W0. 75 (p<0.05). Mean creatinine values in µmol/W0. 75 and allantoin:creatinin ratios were not significantly different among diets. In conclusion, supplementation with SC live yeast culture had a significant effect on urinary allantoin excretion and microbial protein supply to small intestine in Kivircik yearlings fed with high concentrate Diet II (P<0.05). Hence urinary allantoin excretion may be used as a tool for estimating microbial protein supply in Kivircık yearlings. However, further studies are necessary to understand the metabolism of Saccharomyces cerevisiae live yeast culture with different forage: concentrate ratio in Kıvırcık Yearlings.

Keywords: allantoin, creatinin, Kivircik yearling, microbial nitrogen, Saccharomyces cerevisia

Procedia PDF Downloads 398

Authors: Martin Bugeja, Helen Spiropolos

Abstract:

Using a sample of U.S. firms during the period 1993-2015, this study examines whether mergers and acquisitions (M&A) impact the compensation of the Chief Financial Officer (CFO) in the bidding and integration phases of M&As. The study finds that after controlling for CEO power, CFOs’ total compensation is higher during M&A years and is driven by higher equity incentives. These results are robust to controlling for self-selection. Furthermore, CFOs receive a greater bonus during the year of acquisition and the year prior. The study also investigates if CFO compensation during M&A years is driven by M&A characteristics and finds that deal size and diversification are positively related to total compensation while completion time is negatively related. The results are robust to a number of sensitivity tests and additional analyses.

Keywords: chief financial officer, compensation, mergers, acquisitions

Procedia PDF Downloads 43

Authors: H. Lee, J. Park

Abstract:

In this present study, for the first time, we retrieved the Formaldehyde (HCHO) Vertical Column Density (HCHOVCD) using Pandora instruments in Seoul, a megacity in northeast Asia, for the period between 2012 and 2014 and investigated the temporal characteristics of HCHOVCD. HCHO Slant Column Density (HCHOSCD) was obtained using the Differential Optical Absorption Spectroscopy (DOAS) method. HCHOSCD was converted to HCHOVCD using geometric Air Mass Factor (AMFG) as Pandora is the direct-sun measurement. The HCHOVCDs is low at 12:00 Local Time (LT) and is high in the morning (10:00 LT) and late afternoon (16:00 LT) except for winter. The maximum (minimum) values of Pandora HCHOVCD are 2.68×1016 (1.63×10¹⁶), 3.19×10¹⁶ (2.23×10¹⁶), 2.00×10¹⁶ (1.26×10¹⁶), and 1.63×10¹⁶ (0.82×10¹⁶) molecules cm⁻² in spring, summer, autumn, and winter, respectively. In terms of seasonal variations, HCHOVCD was high in summer and low in winter which implies that photo-oxidation plays an important role in HCHO production in Seoul. In comparison with the Ozone Monitoring Instrument (OMI) measurements, the HCHOVCDs from the OMI are lower than those from Pandora. The correlation coefficient (R) between monthly HCHOVCDs values from Pandora and OMI is 0.61, with slop of 0.35. Furthermore, to understand HCHO mixing ratio within Planetary Boundary Layer (PBL) in Seoul, we converted Pandora HCHOVCDs to HCHO mixing ratio in the PBL using several meteorological input data from the Atmospheric InfraRed Sounder (AIRS). Seasonal HCHO mixing ratio in PBL converted from Pandora (OMI) HCHOVCDs are estimated to be 6.57 (5.17), 7.08 (6.68), 7.60 (4.70), and 5.00 (4.76) ppbv in spring, summer, autumn, and winter, respectively.

Keywords: formaldehyde, OMI, Pandora, remote sensing

Procedia PDF Downloads 138

Authors: Temitope Faloye

Abstract:

The absence of equity and transparency in Nigeria's economic system has resulted in unemployment. Women’s unemployment rate remains higher because women's range of jobs is often narrower due to discriminatory attitudes of employers and gender segregation in the labor market. Gender inequality is one of the strong factors of unemployment, especially in developing countries like Nigeria, where the female gender is marginalized in the labor force market. However, gender equality in terms of labor market access and employment condition has not yet been attained. Feminist theory is considered as an appropriate theory for this study. The study will use a mixed-method design, collecting qualitative and quantitative data to provide answers to the research questions. Therefore, the research study aims to investigate the present situation of gender inequality in the Nigerian labor market.

Keywords: unemployment, gender inequality, gender equality, labor market, female graduate

Procedia PDF Downloads 221