Search results for: market reaction

Authors: Jan Cernohorsky

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This article aims to assess the evolution of imperfect competition in selected banking markets, in particular in the banking markets of Slovakia, Poland, Hungary, Slovenia and Croatia. Another objective is to assess the evolution of the relationship of imperfect competition and profit development in the banking markets. The article first provides an overview of literature on the topic. It then measures the degree of imperfect competition in individual markets using the Herfindahl-Hirschman Index. The commonly used indicator of total assets was chosen as an indicator. Based on this measurement, the individual banking sectors are categorized into theoretical definitions of the various types of imperfect competition - namely all surveyed banking sectors falling within the theoretical definition of monopolistic competition. Subsequently, using correlation analysis, i.e., the Pearson correlation coefficient, or the Spearman correlation coefficient, the connection between the evolution of imperfect competition and the development of the gross profit on selected banking markets was surveyed. It was found that with the exception of the banking market in Slovenia, where there is a positive correlation; there is no correlation between the evolution of imperfect competition and profit development in the selected markets. This means a recommendation for the regulators that it is not appropriate to rationalize a higher degree of regulation in granting banking licenses on the size of the profits attained in the banking market, as the relationship between the degree of concentration in the banking market and the amount of profit according to our measurements does not exist.

Keywords: bank, banking system, imperfect competition, profitability

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Authors: Ali Zaker, Zhi Chen

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Due to the concerns about the depletion of fossil fuel sources and the deteriorating environment, the attempt to investigate the production of renewable energy will play a crucial role as a potential to alleviate the dependency on mineral fuels. One particular area of interest is the generation of bio-oil through sewage sludge (SS) pyrolysis. SS can be a potential candidate in contrast to other types of biomasses due to its availability and low cost. However, the presence of high molecular weight hydrocarbons and oxygenated compounds in the SS bio-oil hinders some of its fuel applications. In this context, catalytic pyrolysis is another attainable route to upgrade bio-oil quality. Among different catalysts (i.e., zeolites) studied for SS pyrolysis, activated chars (AC) are eco-friendly alternatives. The beneficial features of AC derived from SS comprise the comparatively large surface area, porosity, enriched surface functional groups, and presence of a high amount of metal species that can improve the catalytic activity. Hence, a sludge-based AC catalyst was fabricated in a single-step pyrolysis reaction with NaOH as the activation agent and was compared with HZSM5 zeolite in this study. The thermal decomposition and kinetics were invested via thermogravimetric analysis (TGA) for guidance and control of pyrolysis and catalytic pyrolysis and the design of the pyrolysis setup. The results indicated that the pyrolysis and catalytic pyrolysis contains four obvious stages, and the main decomposition reaction occurred in the range of 200-600°C. The Coats-Redfern method was applied in the 2nd and 3rd devolatilization stages to estimate the reaction order and activation energy (E) from the mass loss data. The average activation energy (Em) values for the reaction orders n = 1, 2, and 3 were in the range of 6.67-20.37 kJ for SS; 1.51-6.87 kJ for HZSM5; and 2.29-9.17 kJ for AC, respectively. According to the results, AC and HZSM5 both were able to improve the reaction rate of SS pyrolysis by abridging the Em value. Moreover, to generate and examine the effect of the catalysts on the quality of bio-oil, a fixed-bed pyrolysis system was designed and implemented. The composition analysis of the produced bio-oil was carried out via gas chromatography/mass spectrometry (GC/MS). The selected SS to catalyst ratios were 1:1, 2:1, and 4:1. The optimum ratio in terms of cracking the long-chain hydrocarbons and removing oxygen-containing compounds was 1:1 for both catalysts. The upgraded bio-oils with AC and HZSM5 were in the total range of C4-C17, with around 72% in the range of C4-C9. The bio-oil from pyrolysis of SS contained 49.27% oxygenated compounds, while with the presence of AC and HZSM5 dropped to 13.02% and 7.3%, respectively. Meanwhile, the generation of benzene, toluene, and xylene (BTX) compounds was significantly improved in the catalytic process. Furthermore, the fabricated AC catalyst was characterized by BET, SEM-EDX, FT-IR, and TGA techniques. Overall, this research demonstrated AC is an efficient catalyst in the pyrolysis of SS and can be used as a cost-competitive catalyst in contrast to HZSM5.

Keywords: catalytic pyrolysis, sewage sludge, activated char, HZSM5, bio-oil

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Authors: Adebisi Moruf Ademola

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Hematite (Fe2O3),commonly known as ‘rust’ which usually surfaced on metal when exposed to some climatic materials. This emerges as a promising candidate for photoelectrochemical (PEC) water splitting due to its favorable physiochemical properties of the narrow band gap (2.1–2.2 eV), chemical stability, nontoxicity, abundance, and low cost. However, inherent limitations such as short hole diffusion length (2–4 nm), high charge recombination rate, and slow oxygen evolution reaction kinetics inhibit the PEC performances of a-Fe2O3 photoanodes. As such, given the narrow bandgap enabling excellent optical absorption, increased charge carrier density and accelerated surface oxidation reaction kinetics become the key points for improved photoelectrochemical performances for a-Fe2O3 photoanodes and metal ion doping as an effective way to promote charge transfer by increasing donor density and improving the electronic conductivity of a-Fe2O3. Hematite attracts enormous efforts with a number of metal ions (Ti, Zr, Sn, Pt ,etc.) as dopants. A facile deposition-annealing process showed greatly enhanced PEC performance due to the increased donor density and reduced electron-hole recombination at the time scale beyond a few picoseconds. Zr doping was also found to enhance the PEC performance of a-Fe2O3 nanorod arrays by reducing the rate of electron-hole recombination. Slow water oxidation reaction kinetics, another main factor limiting the PEC water splitting efficiency of aFe2O3 as photoanodes, was previously found to be effectively improved by surface treatment.

Keywords: deposition-annealing, hematite, metal ion doping, nanorod

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Authors: Rachel Y. Zhang, Christopher K. Anderson

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A critical aspect of revenue management is a firm’s ability to predict demand as a function of price. Historically hotels have used simple time series models (regression and/or pick-up based models) owing to the complexities of trying to build casual models of demands. Machine learning approaches are slowly attracting attention owing to their flexibility in modeling relationships. This study provides an overview of approaches to forecasting hospitality demand – focusing on the opportunities created by machine learning approaches, including K-Nearest-Neighbors, Support vector machine, Regression Tree, and Artificial Neural Network algorithms. The out-of-sample performances of above approaches to forecasting hotel demand are illustrated by using a proprietary sample of the market level (24 properties) transactional data for Las Vegas NV. Causal predictive models can be built and evaluated owing to the availability of market level (versus firm level) data. This research also compares and contrast model accuracy of firm-level models (i.e. predictive models for hotel A only using hotel A’s data) to models using market level data (prices, review scores, location, chain scale, etc… for all hotels within the market). The prospected models will be valuable for hotel revenue prediction given the basic characters of a hotel property or can be applied in performance evaluation for an existed hotel. The findings will unveil the features that play key roles in a hotel’s revenue performance, which would have considerable potential usefulness in both revenue prediction and evaluation.

Keywords: hotel revenue, k-nearest-neighbors, machine learning, neural network, prediction model, regression tree, support vector machine

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Authors: Nisrine Benzbiria, Mohammed Azzi, Mustapha Zertoubi

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2XXX series of aluminum alloys are widely employed in several applications, such as beverages, automotive, and aerospace industries. However, they are particularly prone to localized corrosion, such as pitting, often induced by a difference in corrosion potential measured for intermetallic phases and pure metal. The galvanic cells comprising Al–Cu– Mn–Fe intermetallic phases control cathodically the dissolution rate as oxygen reduction reaction kinetics are privileged on Al–Cu–Mn–Fe particles. Hence, understanding the properties of cathode sites and the processes involved must be carried out. Our interest is to outline the cathodic behavior of AA2024-T3 in sodium sulfate solution using electrochemical techniques. Oxygen reduction reaction (ORR) was investigated in the mixed charge transfer and mass transport regime using the Koutecky-Levich approach. An environmentally benign inhibitor was considered to slow the ORR on the Cu-rich cathodic phases. The surface morphology of the electrodes was investigated with SEM/EDS and AFM. The obtained results were discussed accordingly.

Keywords: AA2024-T3, neutral medium, ORR kinetics, Koutecky-Levich, DFT

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Authors: Chih-Hsiang Chang

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This study provides insight into the effects of investor sentiment, excess optimism, overconfidence, the disposition effect, and herding formation on momentum profits. This study contributes to the field by providing a further examination of the relationship between psychological factors and momentum profits. The empirical results show that there is no evidence of significant momentum profits in Taiwan’s stock market. Additionally, investor sentiment in Taiwan’s stock market significantly influences its momentum profits.

Keywords: momentum profits, psychological factors, herding formation, investor sentiment

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Authors: Alka Obadić

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The research concentrates on the role of tourism in generating female employment and on impact of gender discrimination in tourism sector. Unfortunately, in many countries there are still some barriers to the inclusion of women at all hierarchical levels of tourism labor market. Research analysis focuses on EU countries where tourism is a main employer of women. The analysis shows that women represent over third persons employed in the non-financial business economy and almost two thirds in core tourism activities. Women's gross hourly earnings in accommodation and food services were below those of men in the European Union and only countries who recorded increase of gender pay gap from the beginning of crisis are Bulgaria and Croatia. Women in tourism industry are still overrepresented in lower status jobs with fewer opportunities for career progression and are often treated unequally.

Keywords: employment, gender discrimination, tourism, women’s participation

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Authors: Mustafa Sertçelik, Turan Çalban, Hacali Necefoğlu, Sabri Çolak

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In this study, Chevreul’s salt solubility and its dissolution kinetics in ammonium chloride solutions were investigated. Chevreul’s salt that we used in the studies was obtained by using the optimum conditions (ammonium sulphide concentration; 0,4 M, copper sulphate concentration; 0,25 M, temperature; 60°C, stirring speed; 600 rev/min, pH; 4 and reaction time; 15 mins) determined by T. Çalban et al. Chevreul’s salt solubility in ammonium chloride solutions and the kinetics of dissolution were investigated. The selected parameters that affect solubility were reaction temperature, concentration of ammonium chloride, stirring speed, and solid/liquid ratio. Correlation of experimental results had been achieved using linear regression implemented in the statistical package program statistica. The effect of parameters on Chevreul’s salt solubility was examined and integrated rate expression of dissolution rate was found using kinetic models in solid-liquid heterogeneous reactions. The results revealed that the dissolution rate of Chevreul’s salt was decreasing while temperature, concentration of ammonium chloride and stirring speed were increasing. On the other hand, dissolution rate was found to be decreasing with the increase of solid/liquid ratio. Based on result of the applications of the obtained experimental results to the kinetic models, we can deduce that Chevreul’s salt dissolution rate is controlled by diffusion through the ash (or product layer). Activation energy of the reaction of dissolution was found as 74.83 kJ/mol. The integrated rate expression along with the effects of parameters on Chevreul's salt solubility was found to be as follows: 1-3(1-X)2/3+2(1-X)= [2,96.1013.(CA)3,08 .(S/L)-038.(W)1,23 e-9001,2/T].t

Keywords: Chevreul's salt, copper, ammonium chloride, ammonium sulphide, dissolution kinetics

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Authors: Saad M. Alshehri, Tansir Ahamad

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Thiourea-Formaldehyde Pre-Polymer (TUF) was prepared by the reaction thiourea and formaldehyde in basic medium and used as a coating materials for magnetite Fe3O4. The synthesized polymer coated microspheres (TUF@Fe3O4) was characterized using FTIR, TGA SEM and TEM. Its BET surface area was up to 1680 m2 g_1. The adsorption capacity of this ACF product was evaluated in its adsorption of Methylene Blue (MB) in water under different pH values and different temperature. We found that the adsorption process was well described both by the Langmuir and Freundlich isotherm model. The kinetic processes of MB adsorption onto TUF@Fe3O4 were described in order to provide a more clear interpretation of the adsorption rate and uptake mechanism. The overall kinetic data was acceptably explained by a pseudo second-order rate model. Evaluated ∆Go and ∆Ho specify the spontaneous and exothermic nature of the reaction. The adsorption takes place with a decrease in entropy (∆So is negative). The monolayer capacity for MB was up to 450 mg g_1 and was one of the highest among similar polymeric products. It was due to its large BET surface area.

Keywords: TGA, FTIR, magentite, thiourea formaldehyde resin, methylene blue, adsorption

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Authors: Bua Srikos, Phusit Phukamchanoad

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The purpose is to study the model and characteristic of participation of the suitable community to lead to develop permanent water marketing in Bang Noi Floating Market, Bangkonti District, Samutsongkhram Province. A total of 342 survey questionnaires were administered to potential respondents. The researchers interviewed the leader of the community. Appreciation Influence Control (AIC) was used to talk with 20 villagers on arena. The findings revealed that overall, most people had the middle level of the participation in developing the durable Bang Noi Floating Market, Bangkonti, Samutsongkhram Province and in aspects of gaining benefits from developing it with atmosphere and a beautiful view for tourism. For example, the landscape is beautiful with public utilities. The participation in preserving and developing Bang Noi Floating Market remains in the former way of life. The basic factor of person affects to the participation of people such as age, level of education, career, and income per month. Most participants are the original hosts that have houses and shops located in the marketing and neighbor. These people involve with the benefits and have the power to make a water marketing strategy, the major role to set the information database. It also found that the leader and the villagers play the important role in setting a five-physical database. Data include level of information such as position of village, territory of village, road, river, and premises. Information of culture consists of a two-level of information, interesting point, and Itinerary. The information occurs from presenting and practicing by the leader and villagers in the community.All of phases are presented for listening and investigating database together in both the leader and villagers in the process of participation.

Keywords: participation, community, sustainable development, encouragement, tourism

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Authors: Dalin Si, Azizan Aziz, Bertrand Lasternas

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To encourage building owners to purchase electricity at the wholesale market and reduce building peak demand, this study aims to develop models that predict day-ahead hourly electricity consumption and demand using artificial neural network (ANN) and support vector machine (SVM). All prediction models are built in Python, with tool Scikit-learn and Pybrain. The input data for both consumption and demand prediction are time stamp, outdoor dry bulb temperature, relative humidity, air handling unit (AHU), supply air temperature and solar radiation. Solar radiation, which is unavailable a day-ahead, is predicted at first, and then this estimation is used as an input to predict consumption and demand. Models to predict consumption and demand are trained in both SVM and ANN, and depend on cooling or heating, weekdays or weekends. The results show that ANN is the better option for both consumption and demand prediction. It can achieve 15.50% to 20.03% coefficient of variance of root mean square error (CVRMSE) for consumption prediction and 22.89% to 32.42% CVRMSE for demand prediction, respectively. To conclude, the presented models have potential to help building owners to purchase electricity at the wholesale market, but they are not robust when used in demand response control.

Keywords: building energy prediction, data mining, demand response, electricity market

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Authors: Sukanya Devi Ramachandran, Vaishnavi Muralidharan, Kavya Chandrasekaran

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Polycaprolactone is polymer belonging to the polyester family that has noticeable characteristics of biodegradability and biocompatibility which is essential for medical applications. Polycaprolactone is produced by the ring opening polymerization of the monomer epsilon-Caprolactone (ε-CL) which is a closed ester, comprising of seven-membered ring. This process is normally catalysed by metallic components such as stannous octoate. It is difficult to remove the catalysts after the reaction, and they are also toxic to the human body. An alternate route of using enzymes as catalysts is being employed to reduce the toxicity. Lipase enzyme is a subclass of esterase that can easily attack the ester bonds of ε-CL. This research paper throws light on the extraction of lipase from germinating sunflower seeds and the activity of the biocatalyst in the polymerization of ε-CL. Germinating Sunflower seeds were crushed with fine sand in phosphate buffer of pH 6.5 into a fine paste which was centrifuged at 5000rpm for 10 minutes. The clear solution of the enzyme was tested for activity at various pH ranging from 5 to 7 and temperature ranging from 40oC to 70oC. The enzyme was active at pH6.0 and at 600C temperature. Polymerization of ε-CL was done using toluene as solvent with the catalysis of lipase enzyme, after which chloroform was added to terminate the reaction and was washed in cold methanol to obtain the polymer. The polymerization was done by varying the time from 72 hours to 6 days and tested for the molecular weight and the conversion of the monomer. The molecular weight obtained at 6 days is comparably higher. This method will be very effective, economical and eco-friendly to produce as the enzyme used can be regenerated as such at the end of the reaction and can be reused. The obtained polymers can be used for drug delivery and other medical applications.

Keywords: lipase, monomer, polycaprolactone, polymerization

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Authors: Michiko Miyamoto

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The market for "functional foods" and "foods with functional claims" that are effective in maintaining and improving health, has expanded year by year due to the entry of major food and beverage manufacturers following the introduction of the specified health food system in 1991 in Japan. To bring health claims related products or services to the market, it is necessary to let consumers to learn about these products or services; an effective marketing through advertising are important. This research proposes a framework for an effective advertisement medium for the food supplement industry by using survey data of 2,500 people.

Keywords: functional foods, dietary supplements, marketing strategy, structural equation modeling

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Authors: Pia Moschall, Kathrin Sackmann

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Considering a purchasing volume of around two trillion Euros per year, which equals about 14% of the European Union’s gross domestic product, European public authorities have significant market power. Making use of this market power by prioritizing the procurement of green products and services offers a great potential to contribute to the Green New Deal. The market demand that is created by Green Public Procurement (GPP) sets incentives for European producers to design and develop Green Products and Eco-Innovations. However, most procurement still does not consider environmental criteria. The goal of the work is to encourage the adaptation of GPP in the European Union. To this end, the drivers for the adaptation were investigated over different case studies. The paper analyzes good-practice cases from European authorities from 2010 to 2020 that were provided by the European Commission. This analysis was guided by Philipp Mayring’s method of qualitative content analysis, whereby the inductively formed categories led to the identification of nine major drivers. The most important ones are ‘use of official guidelines and standards, ‘political support and requirements as well as ‘market research and involvement.’ Further, the paper discusses mutual dependencies between several drivers and how to exploit them. A supporting infrastructure was identified as a crucial factor for the successful adaption of green public procurement. In the next step, the work aims to examine on which administrative level the single drivers can be implemented most effectively. Practical implications of this research are recommendations on how to create a supporting structure on a municipal, federal and national level, including training for the responsible staff, support tools, as well as guidelines and standards for involved stakeholders.

Keywords: content analysis, green public procurement, public authorities, sustainable procurement

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Authors: Vithul Kalki

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The mainstream political economy failed to explain the nature and causes of systemic failures and thus to compare and comprehend how contemporary capitalist systems work. An alternative research framework of Critical Macro-Finance (CMF) is an attempt to collaborate political theory with post-Keynesian economics with an objective to find answers to unresolved questions that emerged since the international financial crisis and repeated failures of capital systems. This unorthodox approach brings out four main propositions, namely : (a) that the adoption of American financial practices has anchored financial globalization in market-based finance; (b) that global finance is a set of interconnected, hierarchical balance sheets, increasingly subject to time-critical liquidity; (c) that credit creation in market-based finance involves new forms of money; and (d) that market-based finance structurally requires a de-risking state capable both of protecting systemic liabilities and creating new investment opportunities. The ongoing discussion of CMF literature is yet to be tested or even fully framed. This qualitative paper will critically examine the CMF framework and will engage in discussions aiming to connect the CMF with theories of capitalism in a wider context to bring a holistic approach for analyzing contemporary financial capitalism.

Keywords: critical macro-finance, capitalism, financial system, comparative political economy

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Authors: Jin Gao, Jin Zhang, Xiaogang Li

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Outdoor exposure experiments were conducted in three extreme environments, namely the Chinese plateau mountain environment (Lhasa), the cold–temperate environment (Mohe), and the marine atmospheric environment (Wanning), to track a new long-life environment-friendly polyurethane coating. The relationship between apparent properties, namely gloss and microstructural changes, was analyzed, and the influence of typical climatic environment on the aging mechanism of polyurethane coatings was discussed. Results show that the UV radiation in the Lhasa area causes photoaging degradation, micropores are formed on the coating surface, and the powdering phenomenon is obvious. Photodegradation occurs in the Wanning area, and a hydrolysis reaction is observed. The hydrolysis reaction catalyzes the photoaging, the coating surface becomes yellow, and the powdering becomes serious. Photoaging is also present in the Mohe area, but it is mainly due to temperature changes that in turn change the internal stress of the coating. Microcracks and bumps form on the coating surface.

Keywords: aging, atmospheric environment, outdoor exposure, polyurethane coating

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Authors: Oya A. Urucu, Aslı B. Çiğil, Hatice Birtane, Ece K. Yetimoğlu, Memet Vezir Kahraman

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Chlorpyrifos is an organophosphorus pesticide which can be found in environmental water samples. The efficiency and reuse of a molecularly imprinted polymer (chlorpyrifos - MIP) were investigated for the selective removal of chlorpyrifos residues. MIP was prepared with UV curing thiol-ene polymerization technology by using multifunctional thiol and ene monomers. The thiol-ene curing reaction is a radical induced process, however unlike other photoinitiated polymerization processes, this polymerization process is a free-radical reaction that proceeds by a step-growth mechanism, involving two main steps; a free-radical addition followed by a chain transfer reaction. It assures a very rapidly formation of a uniform crosslinked network with low shrinkage, reduced oxygen inhibition during curing and excellent adhesion. In this study, thiol-ene based UV-curable polymeric materials were prepared by mixing pentaerythritol tetrakis(3-mercaptopropionate), glyoxal bis diallyl acetal, polyethylene glycol diacrylate (PEGDA) and photoinitiator. Chlorpyrifos was added at a definite ratio to the prepared formulation. Chemical structure and thermal properties were characterized by FTIR and thermogravimetric analysis (TGA), respectively. The pesticide analysis was performed by gas chromatography-mass spectrometry (GC-MS). The influences of some analytical parameters such as pH, sample volume, amounts of analyte concentration were studied for the quantitative recoveries of the analyte. The proposed MIP method was applied to the determination of chlorpyrifos in river and tap water samples. The use of the MIP provided a selective and easy solution for removing chlorpyrifos from the water.

Keywords: molecularly imprinted polymers, selective removal, thilol-ene, uv-curable polymer

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Authors: Tian Lan

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Arbitrageurs participate in a variety of techniques in response to the existence of fluctuating sentiment, resulting in sparse sentiment exposures. This paper found that Commodity Trading Advisor (CTA) funds in the top decile rated by sentiment beta outperformed those in the bottom decile by 0.33% per month on a risk-adjusted basis, with the difference being larger among skilled managers. This paper also discovered that around ten percent of Commodity Trading Advisor (CTA) funds could accurately predict market sentiment, which has a positive correlation with fund sentiment beta and acts as a determinant in fund performance. Instead of betting against mispricing, this research demonstrates that a competent manager can achieve remarkable returns by forecasting and reacting to shifts in investor sentiment.

Keywords: investment sentiment, CTA fund, market timing, fund performance

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Authors: Wann-Yun Shieh, Chin-Man Wang, Ya-Cheng Shieh

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This study aims to develop an objective scoring system to evaluate hand-eye coordination and hand dexterity for Parkinson’s disease. This system contains three boards, and each of them is implemented with the sensors to sense a user’s finger operations. The operations include the peg test, the block test, and the blind block test. A user has to use the vision, hearing, and tactile abilities to finish these operations, and the board will record the results automatically. These results can help the physicians to evaluate a user’s reaction, coordination, dexterity function. The results will be collected to a cloud database for further analysis and statistics. A researcher can use this system to obtain systematic, graphic reports for an individual or a group of users. Particularly, a deep learning model is developed to learn the features of the data from different users. This model will help the physicians to assess the Parkinson’s disease symptoms by a more intellective algorithm.

Keywords: deep learning, hand-eye coordination, reaction, hand dexterity

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Authors: Thidarat Imyen, Paisan Kongkachuichay

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Cu-Zn/core-shell Al-MCM-41 catalyst with various copper species, prepared by a combination of three methods—substitution, ion-exchange, and impregnation, was studied for the selective catalytic reduction (SCR) of NO with NH3 at 300 °C for 150 min. In order to investigate the effects of Zn introduction on the nature of the catalyst, Cu/core-shell Al-MCM-41 and Zn/core-shell Al-MCM-41 catalysts were also studied. The roles of Zn promoter in the acidity and the NOx adsorption properties of the catalysts were investigated by in situ Fourier transform infrared spectroscopy (FTIR) of NH3 and NOx adsorption, and temperature-programmed desorption (TPD) of NH3 and NOx. The results demonstrated that the acidity of the catalyst was enhanced by the Zn introduction, as exchanged Zn(II) cations loosely bonded with Al-O-Si framework could create Brønsted acid sites by interacting with OH groups. Moreover, Zn species also provided the additional sites for NO adsorption in the form of nitrite (NO2–) and nitrate (NO3–) species, which are the key intermediates for SCR reaction. In addition, the effect of Zn on the nature of copper was studied by in situ FTIR of CO adsorption and in situ X-ray adsorption near edge structure (XANES). It was found that Zn species hindered the reduction of Cu(II) to Cu(0), resulting in higher Cu(I) species in the Zn promoted catalyst. The Cu-Zn/core-shell Al-MCM-41 exhibited higher catalytic activity compared with that of the Cu/core-shell Al-MCM-41 for the whole reaction time, as it possesses the highest amount of Cu(I) sites, which are responsible for SCR catalytic activity. The Cu-Zn/core-shell Al-MCM-41 catalyst also reached the maximum NO conversion of 100% with the average NO conversion of 76 %. The catalytic performance of the catalyst was further improved by using Zn promoter in the form of ZnO instead of reduced Zn species. The Cu-ZnO/core-shell Al-MCM-41 catalyst showed better catalytic performance with longer working reaction time, and achieved the average NO conversion of 81%.

Keywords: Al-MCM-41, copper, nitrogen oxide, selective catalytic reduction, zinc

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Authors: M. Belhadj Lachachi, Tayeb Benabdallah, M. Hadj Youcef, Jason M. Lynama

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The application of inorganic chemistry to catalysis and environmental chemistry is a rapidly developing field, and novel catalytic metal complexes are now having an impact on the industrial development practice. Advances in organometallic chemistry are crucial for improving the design of compounds to reduce toxic side effects and understand their mechanisms of action. The reaction of platinum(II) organometallic complexes with bidentate Schiff bases derived from 2-Hydroxynaphtalydeneaniline have been carried out. It concerns N,N’-naphtalidene para-nitroaniline (1-a), the, the N,N’-naphtalidene para-ethoxyaniline (1-b), the N,N’-naphtalideneaniline (1-c), the N,N’-naphtalidene para-chloroaniline (1-d) and the N,N’-naphtalidene para-methoxyaniline (1-e). The ligands were fully characterized by I.R., elemental analysis, 1H-NMR, 13C-NMR, ESI Mass Spectrometry and X-Ray Diffraction. The resulting metal complexes were obtained as a cationic species, through a simple substitution reaction, leading to two geometric isomers [1, 2], and characterized by IR, 1H-NMR, 13C-NMR, LIFDI Mass Spectrometry and supported by Elemental Analysis and X-Ray diffraction. Furthermore, a bimetallic platinum complex was prepared from the same ligands and dichloro(1,5-cyclooctadiene)platinum and characterized by X-Ray diffraction [3]The catalytic properties of the prepared platinum complexes in the hydrogenative and dehydrogenative silylation of styrene were investigated, and reaction kinetics conversion to products was determined by 1H-NMR and confirmed by GC-MS. This presentation will detail a comparison of the catalytic activity of five platinum organometallic complexes bearing different Schiff base ligands in the hydrosilylation of styrene, varying the experimental conditions of temperature, nature of the complex and the loading of the catalyst.

Keywords: catalysis, hydrosilylation, organometallic, schiff base

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Authors: Refik Uyanöz, Sadife Güngör, Sevilay Konya

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The aim of this study is to show the employing ability of vocational students. And also, the employment problems of these students are emphasized in this study.The rapid development in technology and information and increased qualified labor is widely affects labor market. On the other hand, labor market will look for educated, qualified, talented and young people. Because of this reason, qualified staff should be educated at vocational high schools. Vocational high schools are one of the best institutions to educate qualified staff. In this research, the conditions of vocational high schools are studied. The difference between the employment policies and current employment problems are researched.

Keywords: vocational high school, employment, employment problems, vocational students

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Authors: Jyh-Yi Shih, Chie-Bein Chen, Kuang-Yi Lin, Yu-Wei Huang

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Because of the trend toward globalization, Taiwanese companies have gradually focused more on overseas market operations. Overseas market performance has gradually increased as a proportion of Taiwanese companies’ total business revenues. Existing international investment theories cannot explain numerous new phenomena in this domain. Opinions are inconsistent, and contradictory positions exist regarding the antecedents of multinational enterprise (MNE) performance. This study applied contemporary internalization theory to establish and extend approaches adopted by previous relevant studies. In the context of the overseas market, the influence that MNE investment in research and development (R&D) and marketing has on enterprise performance was investigated from the firm-specific advantages (FSAs) and country-specific advantages (CSAs) perspectives. CSAs and internationalization speed were addressed as moderators, and hypotheses regarding how internationalization and performance were achieved through MNE overseas market operation were explored to ensure the completeness of the investigation. The list of enterprises was sourced from the Taiwan Economic Journal. After examining the relevant data, the following conclusions were obtained: (a) The relationship between the level of FSAs in R&D and enterprise performance exhibited an S-shaped curve. (b) The relationship between the level of FSAs in marketing and enterprise performance displayed a U-shaped curve. (c) The extent to which potential CFAs were obtained positively moderated the relationship between enterprise investment in R&D to gain FSAs and MNE performance. (d) Internationalization speed positively moderated the relationship between MNEs and enterprise investment in R&D and marketing to gain FSAs.

Keywords: multinational corporation, firm-specific advantages, country-specific advantages, international speed

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Andrey Matyukhin

Abstract:

Russian official statistics have been showing a steady decline in residential real estate prices for several consecutive years. Price risk in real estate markets is thus affecting various groups of economic agents, namely, individuals, construction companies and financial institutions. Potential use of property derivatives might help mitigate adverse consequences of negative price dynamics. Unless a sustainable price indicator is developed, settlement of such instruments imposes constraints on counterparties involved while imposing restrictions on real estate market development. The study addresses geographical and classification heterogeneity in real estate prices by means of variance analysis in various groups of real estate properties. In conclusion, we determine optimal sample structure of representative real estate assets with sufficient level of price homogeneity. The composite price indicator based on the sample would have a higher level of robustness and reliability and hence improving liquidity in the market for property derivatives through underlying standardization. Unlike the majority of existing real estate price indices, calculated on country-wide basis, the optimal indices for Russian market shall be constructed on the city-level.

Keywords: price homogeneity, property derivatives, real estate price index, real estate price risk

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Authors: Esra Öztürk, Erkul Karacaoglu

Abstract:

Pyrochlores, having compounds of the general formula, A2B2O7 (A and B are metals/rare earths) are important class of materials thanks to having technological applications like in luminescence, ionic conductivity, nuclear waste immobilization etc. The rare earths included pyrochlore compounds have also potential photoluminescence characteristics. In this context, Er3+-activated Lu2Ti2O7 pyrochlore was chosen and synthesized through a high-temperature solid-state reaction route that was sintered under the open atmosphere in this study. The optimal reaction conditions to obtain expected single phase system, the thermal analysis (DTA/TG) were carried out. The X-ray powder diffraction (XRD) was used to determine phase properties of the sample. The photoluminescence (PL) results were done to obtain excitation, emission and decay time properties by a PL spectrometer under room temperature. According to the PL, there are excitation bands at 352 nm, 388 nm, 423 nm and 453 nm that are due to 4I15/2 → 2G7/2, 4I15/2 → 4G11/2 and 4I15/2 → 4F5/2 transitions of Er3+ ions, respectively. The emission bands are placed at 582 nm, 677 nm and 762 nm that are associated with 2H11/2, 4S3/2 → 4I15/2, 4F9/2 → 4I15/2, 4I9/2 → 4I15/2 transitions of Er3+ ions, respectively.

Keywords: Er3+, Lu2Ti2O7, photoluminescence, pyrochlore, rare-earths

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Authors: Yusuf Ziya Halefoğlu

Abstract:

Phosphorescence, classically, excitation effects (radiation, electron beam, electric field, temperature, etc.) is the name given after the elimination of materials that glow in the visible region. This event continues to glow after the elimination of the effect of excitation is called phosphorescence. In this study were synthesized by the method of the combustion lanthanide doped alkaline earth aluminates. High temperature and long reaction time required and the sol-gel method of combustion according to the methods of solid state synthesis temperature lower than the short reaction time, a small particle size, convenience, and is superior in terms of being secured. Their microstructures and its effect on the photoluminescence properties were studied. Phosphorescence is derived in the dark when produced materials are held in sunlight or under ultraviolet light typically at 365-520 nm wavelength range. In this study, the optimal ratio of rare earth elements, in terms of brightness and glow duration was examined by SEM, XRD and photoluminescence analysis.

Keywords: persistence luminescence, phosphorescence, trap depth, combustion method

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Authors: Pornnapat Berndt

Abstract:

The purpose of this research is to study the tourism routes in Bangnoi Floating Market, Bangkhontee District, Samut Songkhram province, Thailand in order to create type and form of interpretation to promote cultural tourism based on local community and visitor requirement. To accomplish the goals and objectives, qualitative research will be applied. The research instruments used are observation, questionnaires, basic interviews, in-depth interviews, focus group, interviewed of key local informants including site visitors. The study also uses both primary data and secondary data. A Statistical Package for Social Sciences (SPSS) was used to analyze the data. Descriptive and inferential statistics such as tables, percentage, mean and standard deviation were used for data analysis and summary. From research result, it is revealed that the local community requirement on types of interpretation conforms to visitors require which need guide post, guide book, etc. with up to date and informally content to present Bangnoi Floating Market which got the most demand score (3.78) considered as most wanted demand.

Keywords: interpretation, cultural tourism, tourism route, local community, stakeholders participated

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Authors: Roman Bieda

Abstract:

The General Data Protection Regulation (GDPR) will come into force on 25 May 2018 which will create a new legal framework for the protection of personal data in the European Union. Article 20 of GDPR introduces a right to data portability. This right allows for data subjects to receive the personal data which they have provided to a data controller, in a structured, commonly used and machine-readable format, and to transmit this data to another data controller. The right to data portability, by facilitating transferring personal data between IT environments (e.g.: applications), will also facilitate changing the provider of services (e.g. changing a bank or a cloud computing service provider). Therefore, it will contribute to the development of competition and the digital market. The aim of this paper is to discuss the right to data portability and its influence on the development of new digital services.

Keywords: data portability, digital market, GDPR, personal data

Procedia PDF Downloads 455

Authors: Thuy Phuong Nhat Tran, Ashutosh Thakur, Toshiaki Taniike

Abstract:

Recently, covalently linked graphene oxide frameworks (GOFs) have attracted considerable attention in gas absorbance and water purification as well-defined microporous materials. In spite of their potential advantages such as a controllable pore dimension, adjustable hydrophobicity, and structural stability, these materials have been scarcely employed in heterogeneous catalysis. Here we demonstrate a novel and facile method to synthesize Pd nanoparticles (NPs) confined in a GOF (Pd@GOF). The GOF with uniform interlayer space was obtained by the intercalation of diboronic acid between graphene oxide layers. It was found that Pd NPs were generated inside the graphitic gallery spaces of the GOF, and thus, formed Pd NPs were well-dispersed with a narrow particle size distribution. The synthesized Pd@GOF emerged as an efficient nanocatalyst based on its superior performance (product yield and recyclability) toward Suzuki-Miyaura cross-coupling reaction in both polar and apolar solvents, which has been hardly observed for previously reported graphene-based Pd nanocatalysts. Furthermore, the rational comparison of the catalytic performance between two kinds of Pd@GOF (Pd NPs encapsulated in a diboronic ester-intercalated GOF and in a monoboronic ester-intercalated GOF) firmly confirmed the essential role of a rigid framework design in the stabilization of Pd NPs. Based on these results, the covalently assembled GOF was proposed as a promising scaffold for hosting noble metal NPs to construct desired metal@GOF nanocatalysts with improved activity and durability.

Keywords: graphene oxide framework, palladium nanocatalyst, pore confinement, Suzuki-Miyaura cross-coupling reaction

Procedia PDF Downloads 127