Search results for: stock options

Authors: Ing-Jen Hung, Tzu-Chien Wang

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Nowadays, customers can interact with firms through miscellaneous online ads on different channels easily. In other words, customer now has innumerable options and limitless time to accomplish their commercial activities with firms, individualizing their own online customer journey. This kind of convenience emphasizes the importance of online advertisement allocation on different channels. Therefore, profound understanding of customer behavior can make considerable benefit from optimizing fund allocation on diverse ad channels. To achieve this objective, multiple firms utilize numerical methodology to create data-driven advertisement policy. In our research, we aim to exploit online customer click data to discover the correlations between each channel and their sequential relations. We use LSTM to deal with sequential property of our data and compare its accuracy with other non-sequential methods, such as CART decision tree, logistic regression, etc. Besides, we also classify our customers into several groups by their behavioral characteristics to perceive the differences between all groups as customer portrait. As a result, we discover distinct customer journey under each customer portrait. Our article provides some insights into marketing research and can help firm to formulate online advertising criteria.

Keywords: LSTM, customer journey, marketing, channel ads

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Authors: Kalai Lamia, Jilani Faouzi

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Measuring and controlling risk is one of the most attractive issues in finance. With the persistence of uncontrolled and erratic stocks movements, volatility is perceived as a barometer of daily fluctuations. An objective measure of this variable seems then needed to control risks and cover those that are considered the most important. Non-linear autoregressive modeling is our first evaluation approach. In particular, we test the presence of “persistence” of conditional variance and the presence of a degree of a leverage effect. In order to resolve for the problem of “asymmetry” in volatility, the retained specifications point to the importance of stocks reactions in response to news. Effects of shocks on volatility highlight also the need to study the “long term” behaviour of conditional variance of stocks returns and articulate the presence of long memory and dependence of time series in the long run. We note that the integrated fractional autoregressive model allows for representing time series that show long-term conditional variance thanks to fractional integration parameters. In order to stop at the dynamics that manage time series, a comparative study of the results of the different models will allow for better understanding volatility structure over the Tunisia stock market, with the aim of accurately predicting fluctuation risks.

Keywords: asymmetry volatility, clustering, stylised facts, leverage effect

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Authors: Nomakhosi Tshuma, Carley Chetty

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This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt.

Keywords: financial performance, determinants of financial performance, business in Africa, telecommunications industry

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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: Farah Kanani

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Blue Tide Environmental is a company focused on developing a network of used motor oil recycling facilities across the U.S. They initiated the redesign of its recycling plant in Texas, and aimed to establish an updated carbon footprint of re-refined used motor oils compared to an equivalent product derived from virgin stock that is not re-refined. The aim was to quantify emissions savings of a circular alternative to conventional end-of-life combustion of used motor oil (UMO). To do so, they mandated an ISO-compliant carbon footprint, utilizing complex models requiring geographical and temporal accuracy to accommodate the U.S. refinery market. The quantification of linear and circular flows, proxies for fuel substitution and system expansion for multi-product outputs were all critical methodological choices and were tested through sensitivity analyses. The re-refined system consisted of continuous recycling of UMO and thus, end-of-life is considered non-existent. The unique perspective to this topic will be from a life cycle i.e. holistic one and essentially demonstrate using this example of how a cradle-to-cradle model can be used to quantify a comparative carbon footprint. The intended audience is lubricant manufacturers as the consumers, motor oil industry professionals and other industry members interested in performing a cradle-to-cradle modeling.

Keywords: circularity, used motor oil, re-refining, systems expansion

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Authors: Pavel Shcherban, Vlad Golovanov

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Nowadays, the depletion of hydrocarbon deposits on the land of the Kaliningrad region leads to active geological exploration and development of oil and natural gas reserves in the southeastern part of the Baltic Sea. LLC 'Lukoil-Kaliningradmorneft' implements a comprehensive program for the development of the region's shelf in 2014-2023. Due to heterogeneity of reservoir rocks in various open fields, as well as with ambiguous conclusions on the contours of deposits, additional geological prospecting and refinement of the recoverable oil reserves are carried out. The key element is use of an effective technique of computer stock modeling at the first stage of processing of the received data. The following step uses information for the cluster analysis, which makes it possible to optimize the field development approaches. The article analyzes the effectiveness of various methods for reserves' calculation and computer modelling methods of the offshore hydrocarbon fields. Cluster analysis allows to measure influence of the obtained data on the development of a technical and economic model for mining deposits. The relationship between the accuracy of the calculation of recoverable reserves and the need of modernization of existing mining infrastructure, as well as the optimization of the scheme of opening and development of oil deposits, is observed.

Keywords: cluster analysis, computer modelling of deposits, correction of the feasibility study, offshore hydrocarbon fields

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Authors: Ando Leppiman, Kati Kõrbe Kaare, Ott Koppel

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The growing demand for gas has rekindled a debate on gas security of supply due to supply interruptions, increasing gas prices, transportation and distribution bottlenecks and a growing reliance on imports over longer distances. Security of supply is defined mostly as an infrastructure package to satisfy N-1 criteria. In case of Estonia, Finland, Latvia, and Lithuania all the gas infrastructure is built to supply natural gas only from one single supplier, Russia. In 2012, almost 100% of natural gas to the Eastern Baltic Region was supplied by Gazprom. under such circumstances infrastructure N-1 criteria does not guarantee security of supply. In the Eastern Baltic Region, the assessment of risk of gas supply disruption has been worked out by applying the method of risk scenarios. There are various risks to be tackled in Eastern Baltic States in terms of improving security of supply, such as single supplier risk, physical infrastructure risk, regulatory gap, fair price, and competition. The objective of this paper is to evaluate the energy security of the Eastern Baltic Region within the framework of the European Union’s policies and to make recommendations on how to better guarantee the energy security of the region.

Keywords: security of supply, supply routes for natural gas, energy balance, diversified supply options, common regulative package

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Authors: Yu-Chen Wei, Dan-Leng Wang

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This study examines whether the reputation from media press affect the financial performance and market abnormal returns around the announcement of corporate social responsibility (CSR) award in the Taiwan Stock Market. The differences between this study and prior literatures are that the media reputation of media coverage and net optimism are constructed by using content analyses. The empirical results show the corporation which won CSR awards could promote financial performance next year. The media coverage and net optimism related to CSR winner are higher than the non-CSR companies prior and after the CSR award is announced, and the differences are significant, but the difference would decrease when the day was closing to announcement. We propose that non-CSR companies may try to manipulate media press to increase the coverage and positive image received by investors compared to the CSR winners. The cumulative real returns and abnormal returns of CSR winners did not significantly higher than the non-CSR samples however the leading returns of CSR winners would higher after the award announcement two months. The comparisons of performances between CSR and non-CSR companies could be the consideration of portfolio management for mutual funds and investors.

Keywords: corporate social responsibility, financial performance, abnormal returns, media, reputation management

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Authors: O. Mowla, E. Kennedy, M. Stockenhuber

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Finding alternative renewable resources of energy has attracted the attentions in consequence of limitation of the traditional fossil fuel resources, increasing of crude oil price and environmental concern over greenhouse gas emissions. Biodiesel (or Fatty Acid Methyl Esters (FAME)), an alternative energy source, is synthesised from renewable sources such as vegetable oils and animal fats and can be produced from waste oils. FAME can be produced via hydroesterification of oils. The process involves two stages. In the first stage of this process, fatty acids and glycerol are being obtained by hydrolysis of the feed stock oil. In the second stage, the recovered fatty acids are then esterified with an alcohol to methyl esters. The presence of a catalyst accelerates the rate of the hydroesterification reaction of oils. The overarching aim of this study is to find the effect of using zeolite as a catalyst in the heterogeneous hydroesterification of soybean oil. Both stages of the catalytic hydroesterification of soybean oil had been conducted at atmospheric and high-pressure conditions using reflux glass reactor and Parr reactor, respectively. The effect of operating parameters such as temperature and reaction time on the overall yield of biodiesel formation was also investigated.

Keywords: biodiesel, heterogeneous catalytic hydroesterification, soybean oil, zeolite

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Authors: Krishna Raj Regmi

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A “Climate change adaptation and disaster risk management for sustainable agriculture” project was implemented in Nepal, a Himalayan country during 2008 to 2013 sponsored jointly by Food and Agriculture Organization (FAO) and United Nations Development Programme (UNDP), Nepal. The paper is based on the results and findings of this joint pilot project. The climate change events such as increased intensity of erratic rains in short spells, trend of prolonged drought, gradual rise in temperature in the higher elevations and occurrence of cold and hot waves in Terai (lower plains) has led to flash floods, massive erosion in the hills particularly in Churia range and drying of water sources. These recurring natural and climate-induced disasters are causing heavy damages through sedimentation and inundation of agricultural lands, crops, livestock, infrastructures and rural settlements in the downstream plains and thus reducing agriculture productivity and food security in the country. About 65% of the cultivated land in Nepal is rainfed with drought-prone characteristics and stabilization of agricultural production and productivity in these tracts will be possible through adoption of rainfed and drought-tolerant technologies as well as efficient soil-water management by the local communities. The adaptation and mitigation technologies and options identified by the project for soil erosion, flash floods and landslide control are on-farm watershed management, sloping land agriculture technologies (SALT), agro-forestry practices, agri-silvi-pastoral management, hedge-row contour planting, bio-engineering along slopes and river banks, plantation of multi-purpose trees and management of degraded waste land including sandy river-bed flood plains. The stress tolerant technologies with respect to drought, floods and temperature stress for efficient utilization of nutrient, soil, water and other resources for increased productivity are adoption of stress tolerant crop varieties and breeds of animals, indigenous proven technologies, mixed and inter-cropping systems, system of rice/wheat intensification (SRI), direct rice seeding, double transplanting of rice, off-season vegetable production and regular management of nurseries, orchards and animal sheds. The alternate energy use options and resource conservation practices for use by local communities are installation of bio-gas plants and clean stoves (Chulla range) for mitigation of green house gas (GHG) emissions, use of organic manures and bio-pesticides, jatropha cultivation, green manuring in rice fields and minimum/zero tillage practices for marshy lands. The efficient water management practices for increasing productivity of crops and livestock are use of micro-irrigation practices, construction of water conservation and water harvesting ponds, use of overhead water tanks and Thai jars for rain water harvesting and rehabilitation of on-farm irrigation systems. Initiation of some works on community-based early warning system, strengthening of met stations and disaster database management has made genuine efforts in providing disaster-tailored early warning, meteorological and insurance services to the local communities. Contingent planning is recommended to develop coping strategies and capacities of local communities to adopt necessary changes in the cropping patterns and practices in relation to adverse climatic and disaster risk conditions. At the end, adoption of awareness raising and capacity development activities (technical and institutional) and networking on climate-induced disaster and risks through training, visits and knowledge sharing workshops, dissemination of technical know-how and technologies, conduct of farmers' field schools, development of extension materials and their displays are being promoted. However, there is still need of strong coordination and linkage between agriculture, environment, forestry, meteorology, irrigation, climate-induced pro-active disaster preparedness and research at the ministry, department and district level for up-scaling, implementation and institutionalization of climate change and disaster risk management activities and adaptation mitigation options in agriculture for sustainable livelihoods of the communities.

Keywords: climate change adaptation, disaster risk management, soil-water management practices, sustainable agriculture

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Authors: Warda Ajaz

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This study uses the ‘Community Capitals Framework’ (CCF) to develop a community resilience index that can serve as a useful tool for measuring resilience of communities in diverse contexts and backgrounds. CCF is an important analytical tool to assess holistic community change. This framework identifies seven major types of community capitals: natural, cultural, human, social, political, financial and built, and claims that the communities that have been successful in supporting healthy sustainable community and economic development have paid attention to all these capitals. The framework, therefore, proposes to study the community development through identification of assets in these major capitals (stock), investment in these capitals (flow), and the interaction between these capitals. Capital based approaches have been extensively used to assess community resilience, especially in the context of natural disasters and extreme events. Therefore, this study identifies key indicators for estimating each of the seven capitals through an extensive literature review and then develops an index to calculate a community resilience score. The CCF-based community resilience index presents an innovative way of operationalizing the concept of community resilience and will contribute toward decision-relevant research regarding adaptation and mitigation of community vulnerabilities to climate change-induced, as well as other adverse events.

Keywords: adverse events, community capitals, community resilience, climate change, economic development, sustainability

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Authors: Antonella Regueiro Fernandez

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This paper examines the issue of period poverty and the innovative approaches – or lack thereof – that national systems are using to tackle the issue. Through a systems-thinking and economical approach, the paper analyzes the intricate relationship between proper systemic change and sustainable innovations for this global problem. The first part of the research introduces period poverty and the lack of sustainable options currently in place to resolve the issue. The second part delves into a comparison of existing technologies – single-use and reusable period products -- and their benefits and deficiencies. It also provides a comparison of two countries and their existing solutions landscape (Scotland and the United States), arguing that while Scotland has provided an innovative national solution to the problem, it still lacks a proper assessment of the issue of sustainability, while the United States continues to lag in offering any holistic solution at all. The last part provides a conclusion to the research and affirms the importance of holistic policymaking approaches to issues of period poverty, which have the potential to truly benefit half of the world’s population while also encouraging environmental preservation.

Keywords: gender equity, sustainability, period poverty, SDGs, sustainable development

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Authors: Gultekin Gurcay

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It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: J. Palán, M. Zemko

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COMTES FHT has been active in a field of research and development of high-strength wires for quite some time. The main material was pure titanium. The primary goal of this effort is to develop a continuous production process for ultrafine and nanostructured materials with the aid of severe plastic deformation (SPD). This article outlines mechanical and microstructural properties of the materials and the options available for testing the components made of these materials. Ti Grade 2 and Grade 4 wires are the key products of interest. Ti Grade 2 with ultrafine to nano-sized grain shows ultimate strength of up to 1050 MPa. Ti Grade 4 reaches ultimate strengths of up to 1250 MPa. These values are twice or three times as higher as those found in the unprocessed material. For those fields of medicine where implantable metallic materials are used, bulk ultrafine to nanostructured titanium is available. It is manufactured by SPD techniques. These processes leave the chemical properties of the initial material unchanged but markedly improve its final mechanical properties, in particular, the strength. Ultrafine to nanostructured titanium retains all the significant and, from the biological viewpoint, desirable properties that are important for its use in medicine, i.e. those properties which made pure titanium the preferred material also for dental implants.

Keywords: CONFORM, ECAP, rotary swaging, titanium

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Authors: Putul Haldar, Yogendra Singh, D. K. Paul

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Un-Reinforced Masonry (URM) infilled RC framed buildings are the most common construction practice for modern multi-storey buildings in India like many other parts of the world. Although the behavior and failure pattern of the global structure changes significantly due to infill-frame interaction, the general design practice is to treat them as non-structural elements and their stiffness, strength and interaction with frame is often ignored, as it is difficult to simulate. Indian Standard, like many other major national codes, does not provide any explicit guideline for modeling of infills. This paper takes a stock of controlling design provisions in some of the major national seismic design codes (BIS 2002; CEN 2004; NZS-4230 2004; ASCE-41 2007) to ensure the desired seismic performance of infilled frame. Most of the national codes on seismic design of buildings still lack in adequate guidelines on modeling and design of URM infilled frames results in variable assumption in analysis and design. This paper, using nonlinear pushover analysis, also presents the effect of one of such assumptions of conventional ‘simultaneous’ analysis procedure of infilled frame on the seismic performance of URM infilled RC frame buildings.

Keywords: URM infills, RC frame, seismic design codes, construction sequence of infilled frame

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Authors: Monday Dickson

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Shortly before the end of the second world war, allied leaders and other western powers designed an economic regime that would foster, among other things, global economic reconstruction, prosperity and overall development of countries of the world. They founded both the World Bank and the International Monetary Fund (IMF), with a general consensus that while the latter should specialize in monitoring global and national economies and acting as a lender of last resort, the former should focus on fighting poverty and promoting development. In setting the rules for world trade, the General Agreement on Trade and Tariffs (GATT) evolved into the World Trade Organisation (WTO). This paper, therefore, examines the impact of the activities of these institutions on the transformation and development aspirations of countries of the Third World. The study adopts the descriptive and analytical methods of investigation and derived relevant secondary data from books, journal articles, encyclopedia as well as reports from countries of the Third World. Findings show that rather than fostering poverty reduction and overall development as envisaged, the activities of global economy system leads to the “development of underdevelopment” of the Third World Countries. The strategic options that are available to countries of the Third World derived from the ability of the national governments to develop programmes of systematic exploration and exploitation of vital indices of relations with strategic countries to advance their development agenda.

Keywords: development, global economic system, prosperity, third world

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Authors: Abu Saleh Mohammad Sowad

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Back in history, muscular and strong male body has always been used to promulgate masculinity; for physically representing supreme manliness there were not many other options. This idealized male figure was proliferated mainly for spreading the notion of male superiority in relation to power and to give a strong base to the social construction of masculinity. This study targets to disclose the perception about the attributes masculinities among the male students of Dhaka city regarding male beautification. It is an attempt to unveil young men’s perspectives regarding their masculinities and beauty. Till the very recent past, beauty was always seen as sole feminine trait in Bangladeshi society. From history we can see men have always been assumed as the ambassador of roughness but in recent time the emergence of fashion-conscious men can be seen, who are slowly occupying a handsome position in the society. Concerning study attempts to bring out the way in which such changing trend of male beauty is perceived among the male students of Dhaka city. What could be the ideologies of these young men who are being involved with it? What is influencing them to be part of such arena which, to a great extent, is still considered as female domain? Is their perception about construction of masculinity is shifting from the so called idealized masculinity? The study tries to find out the answers.

Keywords: masculinity, male beauty, Bangladesh, identity, body

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Authors: Edwin Mwasakidzeni Mutyenyoka

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Without ignoring migration-related challenges in transit zones and places of origin, this inquiry focuses on arrived international immigrants’ exacerbated vulnerability during crises. The aim is to underline longstanding inequalities and demonstrate that crises merely amplify and exacerbate challenges that low-income migrants already face during ‘non-crises’ periods. Social protection, as an agenda for reducing vulnerability, poverty, and risk for low-income households, with regard to basic consumption and services, has been foregrounded in the post-apartheid development discourse in South Africa. Evidently, however, the state, through the South African Social Security Agency (SASSA), systemically excludes the majority of non-citizens from state-sponsored social assistance programs - often leaving them heavily dependent on sporadic non-state options and erosive coping mechanisms. In this paper, migration itself should not only be understood as a social protection strategy against poverty and risk but also as a source of vulnerability that often requires social protection. For quasi-ethnographic, it use one migrant destination, Alex Park Township, as a “contact zone” and space of negotiation during the pandemic.

Keywords: south-south migration, crises, social protection, Covid-19 pandemic

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Authors: Clifford Irikefe Gbeyonron

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The Nigerian educational system, which has English language as a major medium of instruction, has been designed in such a way that the cognitive, psychomotor and affective endowments of the Nigerian learner could be explored. However, the human resources that would impart the desired knowledge, skills and values in the learners seem to be in short supply. This paucity is more manifest in the area of teachers of English. As a result, this research was conducted on the demand and supply of teachers of English at the junior secondary schools in Gashua, Yobe State. The results indicate that there was dearth of teachers of English the domain under review. This thus presents a challenge that should propel English language teacher education industries to produce more teachers of English. As a result, this paper recommends that the teacher production process should make use of qualified and enthusiastic teacher trainers that would be able to inculcate in-depth linguistic and communicative competence of English language and English language teaching skills in the potential teachers of English. In addition, English language education service providers should attract and retain the trained teachers of English in the business of English language teaching in such a way that all the states of Nigeria could experience educational development.

Keywords: demand, supply, teachers of English, Yobe State

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Authors: A. H. Tadevosyan, S. K. Mayrapetyan, N. B. Tavakalyan, K. I. Pyuskyulyan, A. H. Hovsepyan, S. N. Sergeeva

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Soil contamination with radiocesium has a long-term radiological impact due to its long physical half-life (30.1 years for 137Cs and 2 years for 134Cs) and its high biological availability. 137Cs causes the largest concerns because of its deleterious effect on agriculture and stock farming, and, thus, human life for decades. One of the important aspects of the problem of contaminated soils remediation is understand of protective actions aimed at the reduction of biological migration of radionuclides in soil-plant system. The most effective way to bind radionuclides is the use of selective sorbents. The proposed research mainly aims to achieve control on transfer of 137Cs in a system growing media–plant due to counter ions variation in the polymeric sorbents. As the research object, Japanese basil-Perilla frutescens was chosen. Productivity of plants depending on the presence (control-without presence of polymer) and type of polymer material, as well as content of 137Cs in plant material has been determined. The character of different polymers influences on the 137Cs migration in growing media–plant system as well as accumulation in the plants has been cleared up.

Keywords: radioceaseum, Japanese basil, polymer, soil-plant system

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Authors: Anita Kéri

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Recent developments in the field of education have led to a renewed interest in teaching methodologies and practices. Gamification is fast becoming a key instrument in the education of new generations and besides other methods, serious games have become the center of attention. Ready-built serious games are available for most higher education institutions to buy and implement. However, monetary restraints and the unalterable nature of the games might deter most higher education institutions from the application of these serious games. Therefore, there is a continuously growing need for a customizable serious game that has been developed based on a concrete need analysis and experts’ opinion. There has been little evidence so far of serious games that have been created based on relevant and current need analysis from higher education institution teachers, professional practitioners and students themselves. Therefore, the aim of this current paper is to analyze the needs of higher education institution educators with special emphasis on their needs, the applicability of serious games in their classrooms, and exploring options for the development of a customizable serious game framework. The paper undertakes to analyze workshop discussions on implementing serious games in education and propose a customizable serious game framework applicable in the education of the new generation. Research results show that the most important feature of a serious game is its customizability. The fact that practitioners are able to manage different scenarios and upload their own content to a game seems to be a key to the increasingly widespread application of serious games in the classroom.

Keywords: education, gamification, game-based learning, serious games

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Authors: Roghieh Eskandari, Ali Motamedi

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There is a significant demand for renovation as-built assets are aging. To plan for a desirable and comfortable indoor environment, stakeholders use simulation technics to assess potential renovation scenarios with the innovative designs. Diminished Reality (DR), which is a technique of visually removing unwanted objects from the real-world scene in real-time, can contribute to the renovation design visualization for stakeholders by removing existing structures and assets from the scene. Using DR, the objects to be demolished or changed will be visually removed from the scene for a better understanding of the intended design scenarios for stakeholders. This research proposes an integrated system for renovation plan visualization using Building Information Modelling (BIM) data and mixed reality (MR) technologies. It presents a BIM-based DR method that utilizes a textured BIM model of the environment to accurately register the virtual model of the occluded background to the physical world in real-time. This system can facilitate the simulation of the renovation plan by visually diminishing building elements in an indoor environment.

Keywords: diminished reality, building information modelling, mixed reality, stock renovation

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Authors: Siddhi Pedamkar, Reenu Singh

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This report is based on how a culture transforms from one era to another era in commercial space. This transformation is observed in commercial as well as residential spaces. The spaces have specific color concepts, surface detailing furniture, and function-specific layouts. But the cultural impact is very rarely seen in commercial spaces, mostly because the interior is divine by function to a large extent. Information was collected from books and research papers. A quantitative survey was conducted to understand people's perceptions about the impact of culture on design entities and how culture dictates the different types of space and their character. The survey also highlights the impact of types of interior lighting, colour schemes, and furniture types on the interior environment. The questionnaire survey helped in framing design parameters for contemporary interior design. The design parameters are used to propose design options for new-age furniture that can be used in co-working spaces. For the new and contemporary working spaces, new age design furniture, interior elements such as visual partition, semi-visual partition, lighting, and layout can be transformed by cultural changes in the working style of people and organization.

Keywords: commercial space, culture, environment, furniture, interior

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Authors: Marijn Tangelder, Ingeborg Mulder, Jeroen Wijsman, John Janssen, Tom Ysebaert

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The delta works in the Southwest Netherlands drastically changed the estuarine nature of this area. The Grevelingen estuary was dammed off and became a lake in 1971. Since 1978 a connection with the North Sea exists to keep the lake saline but management of the sluices varied over time. Our research of several decades of monitoring data shows that water management practices lead to drastic changes in water quality and consequent ecological shifts in benthic fauna, fish, and bird species. Benthic biomass, dominated by molluscs, showed major changes with an important role for invasive species. Fish migration and, therefore, fish stock in the lake changed with recently smaller fish species and lower biomass values, with consequences for fish eating birds. Implications are made towards future management to re-introduce micro-tide in connection with the North Sea to improve water quality and the ecological status of the lake, as well as consequences for the bordering Natura 2000 terrestrial habitats, including rare dune vegetations, are discussed.

Keywords: ecosystem study, Grevelingen, Natura 2000, water management, water quality

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Authors: Ana Beatriz C. G. Silva, Luiz Carlos Wrobel, Fernando Luiz B. Ribeiro

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This paper presents a thermoregulation model using the finite element method to perform numerical analyses of brain cooling procedures as a contribution to the investigation on the use of therapeutic hypothermia after ischemia in adults. The use of computational methods can aid clinicians to observe body temperature using different cooling methods without the need of invasive techniques, and can thus be a valuable tool to assist clinical trials simulating different cooling options that can be used for treatment. In this work, we developed a FEM package applied to the solution of the continuum bioheat Pennes equation. Blood temperature changes were considered using a blood pool approach and a lumped analysis for intravascular catheter method of blood cooling. Some analyses are performed using a three-dimensional mesh based on a complex geometry obtained from computed tomography medical images, considering a cooling blanket and a intravascular catheter. A comparison is made between the results obtained and the effects of each case in brain temperature reduction in a required time, maintenance of body temperature at moderate hypothermia levels and gradual rewarming.

Keywords: brain cooling, finite element method, hypothermia treatment, thermoregulation

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Authors: Charles-Olivier Amédée-Manesme, Benoit Faye, Eric Le Fur

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In this paper, the heterogeneity of the Bordeaux Legends 50 wine market price segment is addressed. For this purpose, quantile regression is applied – with market segmentation based on wine bottle price quantile – and the hedonic price of wine attributes is computed for various price segments of the market. The approach is applied to a major privately held data set which consists of approximately 30,000 transactions over the 2003–2014 period. The findings suggest that the relative hedonic prices of several wine attributes differ significantly among deciles. In particular, the elasticity coefficient of the expert ratings shows strong variation among prices. If - as suggested in the literature - expert ratings have a positive influence on wine price on average, they have a clearly decreasing impact over the quantiles. Finally, the lower the wine price, the higher the potential for price appreciation over time. Other variables such as chateaux or vintage are also shown to vary across the distribution of wine prices. While enhancing our understanding of the complex market dynamics that underlie Bordeaux wines’ price, this research provides empirical evidence that the QR approach adequately captures heterogeneity among wine price ranges, which simultaneously applies to wine stock, vintage and auctions’ house.

Keywords: hedonics, market segmentation, quantile regression, heterogeneity, wine economics

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Authors: Farhat Ullah

Abstract:

It is very unfortunate that in Pakistani public schools political interference is on its peak. The present study tries to find out the effect of the interference of political elected members in the affairs of public schools. The objectives of the study were to find out, the degree of interference of political members in public school, the positive and negative effects of political members, influence in public schools, students, and its administrators. This study was quantitative in nature. All the public schools in Khyber Pakhtunkhwa were the population of this study. A sample of 400 teachers and 100 schools heads were selected for this study. A survey questionnaire consisted of 50 items related to objectives, was used for this study. The questionnaire consisted of five options based on Likert scale. Data were collected by the researcher himself from the respondents. Data were analyzed using chi square test. It was concluded from the analysis of data that recently the political members are involved in the process of school activities, which had badly affected the freedom and autonomy of school administrators. Mostly teachers are transferred from schools on political influence, which had created uncertainty among the schools teachers. Further, the student’s academic performance was also affected badly. It is recommended that schools must be free from political involvement for the smooth running of schools.

Keywords: public schools, politics, interference, performance

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Authors: Lucy Novianti

Abstract:

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

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

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Authors: Zumra Mehmedovic, Susan Luhrmann

Abstract:

Treatment-resistant depression (TRD) is a debilitating mental health disorder for which there are very few available treatment options. Current research suggests that ketamine may be a safe and effective option for the treatment of TRD. Research utilizing a review of the literature was conducted to determine if ketamine in conjunction with antidepressants is more effective than antidepressants alone in the treatment of TRD. The literature consists of ten journal articles which include quantitative studies based on primary research. A critique of the literature was done to determine whether the findings are reliable, critiquing elements influencing the believability and robustness of the research. The research was based on the neuroplasticity theory of depression, hypothesizing that ketamine, in conjunction with antidepressants, will be more effective than antidepressants alone as they have different mechanisms of action. All the studies except one found ketamine in conjunction with antidepressants to be a more effective treatment than antidepressants alone in the treatment of TRD. Results of the studies indicate that ketamine is effective in treating TRD at various doses, settings, and routes of administration. Further research is necessary, though, to further explore and confirm the findings. Several gaps in literature were identified, including the optimal dose of ketamine, its long-term efficacy and safety, and effects of ketamine in repeated doses. The research topic is highly significant to advanced practice nursing, as based on the findings, ketamine can be utilized as a safe and effective treatment for TRD.

Keywords: ketamine, major depressive disorder, treatment-resistant depression, treatment

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Authors: Harish Aryal, Roger Hague, Daniel Sotelo, Felipe Astete Salinas

Abstract:

This paper presents a comparative study of different coolants, materials, and temperatures that can affect the effectiveness of heat exchangers that are used in small modular reactors. The corrugated plate heat exchangers were chosen out of different plate options for testing purposes because of their ease of access and better performance than other existing heat exchangers in recent years. SolidWorks enables us to see various results between water coolants and helium coolants acting upon different types of conducting metals, which were selected from different fluids that ultimately satisfied accessibility requirements and were compatible with the software. Though not every element, material, fluid, or method was used in the testing phase, their purpose is to help further research that is to come since the innovation of nuclear power is the future. The tests that were performed are to help better understand the constant necessities that are seen in heat exchangers and through every adjustment see what the breaking points or improvements in the machine are. Depending on consumers and researchers, the results may give further feedback as to show why different types of materials and fluids would be preferred and why it is necessary to keep failures to improve future research.

Keywords: heat exchangers, Solidworks, coolants, small modular reactors, nuclear power, nanofluids, Nusselt number, friction factor, Reynolds number

Procedia PDF Downloads 56