Search results for: indirect costs overtime

Authors: Erindi Allaj

Abstract:

This paper studies arbitrage pricing theory in financial markets with transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Transaction costs are composed of two terms, one is able to capture the implicit transaction costs and the other the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies which have left and right limit and finite quadratic variation. That is, predictable trading strategies of infinite variation and of finite quadratic variation are allowed in our setting. Within this framework, the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also proved that, when this probability measure is unique, any contingent claim in the market is hedgeable in an L2-sense. The price of any contingent claim is equal to the risk-neutral price. To better understand how to apply the theory proposed we provide an example with linear transaction costs.

Keywords: arbitrage pricing theory,
transaction costs, fundamental theorems of arbitrage, financial markets

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Authors: T. Nakpun, T. Kanjanarach, T. Kittisopee

Abstract:

Turnover of community pharmacist can affect continuity of patient care and most importantly the quality of care and also the costs of a pharmacy. It was hypothesized that organizational resources, job characteristics, and social supports had direct effect on pharmacist turnover intention, and indirect effect on pharmacist turnover intention via pharmacist engagement. This research aimed to study influencing factors on pharmacist engagement and pharmacist turnover intention by testing the proposed structural hypothesized model to explain the relationship among organizational resources, job characteristics, and social supports that effect on pharmacist turnover intention and pharmacist engagement in Thai community pharmacists. A cross sectional study design with self-administered questionnaire was conducted in 209 Thai community pharmacists. Data were analyzed using Structural Equation Modeling technique with analysis of a moment structures AMOS program. The final model showed that only organizational resources had significant negative direct effect on pharmacist turnover intention (β =-0.45). Job characteristics and social supports had significant positive relationship with pharmacist engagement (β = 0.44, and 0.55 respectively). Pharmacist engagement had significant negative relationship with pharmacist turnover intention (β = - 0.24). Thus, job characteristics and social supports had significant negative indirect effect on turnover intention via pharmacist engagement (β =-0.11 and -0.13, respectively). The model fit the data well (χ2/ degree of freedom (DF) = 2.12, the goodness of fit index (GFI)=0.89, comparative fit index (CFI) = 0.94 and root mean square error of approximation (RMSEA) = 0.07). This study can be concluded that organizational resources were the most important factor because it had direct effect on pharmacist turnover intention. Job characteristics and social supports were also help decrease pharmacist turnover intention via pharmacist engagement.

Keywords: community pharmacist, influencing factor, turnover intention, work engagement

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Authors: Ayman M. Othman, Hassan Y. Ahmed

Abstract:

This paper discusses the effect of using blast furnace iron slag as a part of fine aggregate on the mechanical performance of hot mix asphalt (HMA). The mechanical performance was evaluated based on various mechanical properties that include; Marshall/stiffness, indirect tensile strength and unconfined compressive strength. The effect of iron slag content on the mechanical properties of the mixtures was also investigated. Four HMA with various iron slag contents, namely; 0%, 5%, 10% and 15% by weight of total mixture were studied. Laboratory testing has revealed an enhancement in the compressive strength of HMA when iron slag was used. Within the tested range of iron slag content, a considerable increase in the compressive strength of the mixtures was observed with the increase of slag content. No significant improvement on Marshall/stiffness and indirect tensile strength of the mixtures was observed when slag was used. Even so, blast furnace iron slag can still be used in asphalt paving for environmental advantages.

Keywords: blast furnace iron slag, compressive strength, HMA, indirect tensile strength, marshall/stiffness, mechanical performance, mechanical properties

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Authors: Desiree Vandenberghe, Johan Albrecht

Abstract:

Non-communicable diseases (NCDs) are responsible for the vast majority of deaths in the European Union (EU) and represent a large share of total health care spending. A future increase in this health and financial burden is likely to be driven by population ageing, lifestyle changes and technological advances in medicine. Without adequate prevention measures, this burden can severely threaten population health and economic development. To tackle this challenge, a correct assessment of the current burden of NCDs is required, as well as a projection of potential increases of this burden. The contribution of this paper is to offer perspective on the evolution of the NCD burden towards the future and to give an indication of the potential of prevention policy. A Non-Homogenous, Semi-Markov model for the EU was constructed, which allowed for a projection of the cost burden for the four main NCDs (cancer, cardiovascular disease, chronic respiratory disease and diabetes mellitus) towards 2030 and 2050. This simulation is done based on multiple baseline scenarios that vary in demand and supply factors such as health status, population structure, and technological advances. Finally, in order to assess the potential of preventive measures to curb the cost explosion of NCDs, a simulation is executed which includes increased efforts for preventive health care measures. According to the Markov model, by 2030 and 2050, total costs (direct and indirect costs) in the EU could increase by 30.1% and 44.1% respectively, compared to 2015 levels. An ambitious prevention policy framework for NCDs will be required if the EU wants to meet this challenge of rising costs. To conclude, significant cost increases due to Non-Communicable Diseases are likely to occur due to demographic and lifestyle changes. Nevertheless, an ambitious prevention program throughout the EU can aid in making this cost burden manageable for future generations.

Keywords: non-communicable diseases, preventive health care, health policy, Markov model, scenario analysis

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Authors: Rusne Kregzdaite

Abstract:

The value of the cultural sector stems from the symbolic exploration that differentiates cultural organisations from other product or service organisations. As a result, the cultural sector has a dual impact on the socio-economic system: the economic value (expressed in terms of market relations) created influences the dynamics of the country's financial indicators, while the cultural (non-market) value indirectly contributes to the welfare of the state through changes in societal values, creativity transformations and cultural needs of the country. Measurement of indirect (cultural value) impacts is difficult, but in the case of the cultural sector (especially when it comes to economically inefficient state-funded culture), it helps to reveal the essential characteristics of the sector. The study aims to analyze the value of cultural organisations that are invisible in market processes and to base it on quantified calculations. This was be done by analyzing the usefulness of the consumer, incorporating not only the price paid but also the social and cultural decision-making factors that determine the spectator's choice (time dedicated for a visit, additional costs, content, previous experiences, corporate image). This may reflect the consumer's real choice to consume (all the costs he incurs may be considered the financial equivalent of his experience with the cultural establishment). The research methodology was tested by analyzing the performing arts sector and applying methods to the Lithuanian national drama theatre case. The empirical research consisted of a survey (more than 800 participants) of Lithuanian national drama theatre visitors to different performances. The willingness to pay and travel costs methods were used. Analysis of different performances lets identifies the factor that increases willingness to pay for the performance and affects theatre attendance. The research stresses the importance of cultural value and social perspective of the cultural sector and relates it to the discussions of public funding of culture.

Keywords: cultural economics, performing arts, willingness to pay, travel cost analysis, performing arts management

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Authors: Hend Almaseb

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Child aggression is a serious social problem that affects children’s lives. This study examines the relationship between three types of aggressive behaviors–physical, verbal, and indirect aggression–from sociocultural and social work perspectives. Also, it investigates the effect of gender on the three types of aggressive behaviors and the most frequently used aggressive behaviors among a sample of 329 Kuwaiti children. The results show that there is a positive correlation between the three types of aggression and gender.

Keywords: child aggression, indirect aggression, physical aggression, verbal aggression

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Authors: Ayman Othman, Tallat Ali

Abstract:

The successive increase of generated waste materials like glass has led to many environmental problems. Using crushed waste glass in hot mix asphalt paving has been though as an alternative to landfill disposal and recycling. This paper discusses the possibility of utilizing crushed waste glass, as a part of fine aggregate in hot mix asphalt in Egypt. This is done through evaluation of the mechanical properties of asphalt concrete mixtures mixed with waste glass and determining the appropriate glass content that can be adapted in asphalt pavement. Four asphalt concrete mixtures with various glass contents, namely; 0%, 4%, 8% and 12% by weight of total mixture were studied. Evaluation of the mechanical properties includes performing Marshall stability, indirect tensile strength, fracture energy and unconfined compressive strength tests. Laboratory testing had revealed the enhancement in both compressive strength and Marshall stability test parameters when the crushed glass was added to asphalt concrete mixtures. This enhancement was accompanied with a very slight reduction in both indirect tensile strength and fracture energy when glass content up to 8% was used. Adding more than 8% of glass causes a sharp reduction in both indirect tensile strength and fracture energy. Testing results had also shown a reduction in the optimum asphalt content when the waste glass was used. Measurements of the heat loss rate of asphalt concrete mixtures mixed with glass revealed their ability to hold heat longer than conventional mixtures. This can have useful application in asphalt paving during cold whether or when a long period of post-mix transportation is needed.

Keywords: waste glass, hot mix asphalt, mechanical performance, indirect tensile strength, fracture energy, compressive strength

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Authors: Flóra Pomázi, Sándor Baranya, Zoltán Szalai

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A harmonized monitoring of the suspended sediment transport along such a large river as the world’s most international river, the Danube River, is a rather challenging task. The traditional monitoring method in Hungary is obsolete but using indirect measurement devices and techniques like optical backscatter sensors (OBS), laser diffraction or acoustic backscatter sensors (ABS) could provide a fast and efficient alternative option of direct methods. However, these methods are strongly sensitive to the particle characteristics (i.e. particle shape, particle size and mineral composition). The current method does not provide sufficient information about particle size distribution, mineral analysis is rarely done, and the shape of the suspended sediment particles have not been examined yet. The aims of the study are (1) to determine the particle characterisation of suspended sediment in the Danube River using advanced particle characterisation methods as laser diffraction and automated imaging, and (2) to perform a sensitivity analysis of the indirect methods in order to determine the impact of suspended particle characteristics. The particle size distribution is determined by laser diffraction. The particle shape and mineral composition analysis is done by the Morphologi G3ID image analyser. The investigated indirect measurement devices are the LISST-Portable|XR, the LISST-ABS (Sequoia Inc.) and the Rio Grande 1200 kHz ADCP (Teledyne Marine). The major findings of this study are (1) the statistical shape of the suspended sediment particle - this is the first research in this context, (2) the actualised particle size distribution – that can be compared to historical information, so that the morphological changes can be tracked, (3) the actual mineral composition of the suspended sediment in the Danube River, and (4) the reliability of the tested indirect methods has been increased – based on the results of the sensitivity analysis and the previous findings.

Keywords: advanced particle characterisation, automated imaging, indirect methods, laser diffraction, mineral composition, suspended sediment

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Authors: Jessica Hemberg, Mikaela Miller

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Unreasonable workload and work-related stress can reduce nurse leaders’ job satisfaction and productivity and can increase absence and burnout. Nurse leaders’ workload in public healthcare settings is relatively unresearched. The aim of this study was to investigate nurse leaders’ perceptions of workload and task distribution with relation to leading work tasks in public healthcare. A qualitative explorative design was used. The data material consisted of texts from interviews with nurse leaders in public healthcare (N=8). The method was inspired by content analysis. The COREQ checklist was used. Informed consent was sought from the participants regarding study participation and the storage and handling of data for research purposes. Six main themes were found: Increased and unreasonable workload, Length of work experience as nurse leader affects perception of workload, Number of staff and staff characteristics affect perception of workload, Versatile and flexible task distribution, Working overtime as a way of managing high workload, and Insufficient time for leadership mission. The workload for nurse leaders in a public healthcare setting was perceived to be unreasonable. Common measures for managing high workload included working overtime, delegating work tasks and organizing more staff resources in the form of additional staff. How nurse leaders perceive their workload was linked to both the number of staff and staff characteristics. These should both be considered equally important when determining staff levels and measuring nurse leaders’ workload. Future research should focus on investigating workload and task distribution from nurses’ perspectives.

Keywords: nurse leaders, workload, task distribution, public healthcare, qualitative

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Authors: Khachen Kongpakwattana, Charungthai Dejthevaporn, Orapitchaya Krairit, Piyameth Dilokthornsakul, Devi Mohan, Nathorn Chaiyakunapruk

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Background: Although an increase in the burden of Alzheimer’s disease (AD) is evident worldwide, knowledge of costs and health-related quality of life (HR-QoL) associated with AD in Low- and Middle-Income Countries (LMICs) is still lacking. We, therefore, aimed to collect real-world cost and HR-QoL data, and investigate their associations with multiple disease-severity indicators among AD patients in Thailand. Methods: We recruited AD patients aged ≥ 60 years accompanied by their caregivers at a university-affiliated tertiary hospital. A one-time structured interview was conducted to collect disease-severity indicators, HR-QoL and caregiving information using standardized tools. The hospital’s database was used to retrieve healthcare resource utilization occurred over 6 months preceding the interview date. Costs were annualized and stratified based on cognitive status. Generalized linear models were employed to evaluate determinants of costs and HR-QoL. Results: Among 148 community-dwelling patients, average annual total societal costs of AD care were 8,014 US$ [95% Confidence Interval (95% CI): 7,295 US$ - 8,844 US$] per patient. Total costs of patients with severe stage (9,860 US$; 95% CI: 8,785 US$ - 11,328 US$) were almost twice as high as those of mild stage (5,524 US$; 95% CI: 4,649 US$ - 6,593 US$). The major cost driver was direct medical costs, particularly those incurred by AD prescriptions. Functional status was the strongest determinant for both total costs and patient’s HR-QoL (p-value < 0.001). Conclusions: Our real-world findings suggest the distinct major cost driver which results from expensive AD treatment, emphasizing the demand for country-specific cost evidence. Increases in cognitive and functional status are significantly associated with decreases in total costs of AD care and improvement on patient’s HR-QoL.

Keywords: Alzheimer's disease, associations, costs, disease-severity indicators, health-related quality of life

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Authors: Nsikan Affiah, Kayode Osungbade, Williams Uzoma

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Malaria remains one of the major killers of humans worldwide, threatening the lives of more than one-third of the world’s population. Some people refers it to; a disease of poverty because it contributes towards national poverty through its impact on foreign direct investment, tourism, labour productivity, and trade. At the micro level, it may cause poverty through spending on health care, income losses, and premature deaths. Unfortunately, malaria is a disease that affects both low-income household and its high-income counterpart, but low-income households are still at greater risk because significant part of the available monthly income is dedicated to various preventive and treatment measures. The objective of this study is to estimate direct and indirect cost of malaria treatment in households in a section of South-South Region (Akwa Ibom State) of Nigeria. A cross-sectional study of Six Hundred and Forty (640) heads of households or any adult representative of households in three local government areas of Akwa Ibom State, Nigeria from May 1-31, 2015 were ascertained through interviewer-administered questionnaire adapted from Nigerian Malaria Indicator Survey Report. The clustering technique was used to select 640 households with the help of Primary Health Care (PHC) house numbering system. Using exchange rate of 197 Naira/USD, result shows that direct cost of malaria treatment was 8,894.44 USD while the indirect cost of malaria treatment was 11,012.81 USD. Total cost of treatment made up of 44.7% direct cost and 55.3% indirect cost, with average direct cost of malaria treatment per household estimated at 20.6 USD and the average indirect cost of treatment per household estimated at 25.1 USD. Average total cost for each episode (888) of malaria was estimated at 22.4 USD. While at household level, the average total cost was estimated at 45.5 USD. From the average total cost, low-income households would spend 36% of monthly household income on treating malaria and the impact could be said to be catastrophic, compared to high-income households where only 1.2% of monthly household income is spent on malaria treatment. It could be concluded that the cost of malaria treatment is well beyond the means of households and given the reality of repeated bouts of malaria and its contribution to the impoverishment of households, there is a need for urgent action.

Keywords: direct cost, indirect cost, low income households, malaria

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Authors: Dilliram Paudyal

Abstract:

The history of taxation in Nepal dates back to antiquity. However, the modern tax system gained its momentum after the establishment of democracy in 1951, which initially focused only land tax and tariff on foreign trade. In the due time, several taxes were introduced, such as direct taxes, indirect taxes, and non-taxes. However, the tax structure in Nepal is heavily dominated by indirect taxes that contribute more than 60 % of the total revenue. The government has been mobilizing revenues through a series of tax reforms during the Tenth Five-year Plan (2002 – 2007) and successive Three-year Interim Development Plans by introducing several tax measures. However, these reforms are regressive in nature, which does not lead the overall economy towards short-run stability as well as in the long run development. Based on the literature review and discussion among government officials and few taxpayers individually and groups, this paper aims to major issues and challenges that hinder the tax reform effective in Nepal. Additionally, this paper identifies potential way and process of tax reform in Nepal. The results of the study indicate that transparency in a major problem in Nepalese tax system in Nepal, where serious structural constraints with administrative and procedural complexities envisaged in the Income Tax Act and taxpayers are often unaware of the specific size of tax which is to comply them. Some other issues include high tax rate, limited tax base, leakages in tax collection, rigid and complex Income Tax Act, inefficient and corrupt tax administration, limited potentialities of direct taxes and negative responsiveness of land tax with higher administrative costs. In the context, modality of tax structure and mobilize additional resources is to be rectified on a greater quantum by establishing an effective, dynamic and highly power driven Autonomous Revenue Board.

Keywords: corrupt, development, inefficient, taxation

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Authors: Š. Čemerková, M. Wilczková

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The paper deals with the importance of information flow for providing of defined level of customer service in the firms. Setting of the criteria for the selection and implementation of logistics information system is a prerequisite for ensuring of the flow of information in firms. The decision on the selection and implementation of logistics information system is linked to the investment costs and operating costs, which are included in the total logistics costs. The article also deals with the conclusions of the research focused on the logistics information system selection in companies in the Czech Republic.

Keywords: customer service, information system, logistics, research

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Authors: Guizella Rocabado, Cassidy Wilkes

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It is well known that chemistry is one of the most feared courses in college. Although many students enjoy learning about science, most of them perceive that chemistry is “too difficult”. These perceptions of chemistry result in many students not considering Science, Technology, Engineering, and Mathematics (STEM) majors because they require chemistry courses. Ultimately, these perceptions are also thought to be related to high attrition rates of students who begin STEM majors but do not persist. Students perceived costs of a chemistry class can be many, such as task effort, loss of valued alternatives, emotional, and others. These costs might be overcome by students’ interests and goals, yet the level of perceived costs might have a lasting impact on the students’ overall perception of chemistry and their desire to pursue chemistry and other STEM careers in the future. In this mixed methods study, we investigated task effort and emotional cost, as well as a mastery or performance goal orientation, and the impact these constructs may have on achievement in general chemistry classrooms. Utilizing cluster analysis as well as student interviews, we investigated students’ profiles of perceived cost and goal orientation as it relates to their final grades. Our results show that students who are well prepared for general chemistry, such as those who have taken chemistry in high school, display less negative perceived costs and thus believe they can master the material more fully. Other interesting results have also emerged from this research, which has the potential to have an impact on future instruction of these courses.

Keywords: chemistry education, motivation, affect, perceived costs, goal orientations

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Authors: Lindiwe Ngcobo

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The aim of the study is to describe and understand the benefits and costs of having biogas digesters at both household and society level. On a household level, the purpose is to understand how rural households benefit from the biogas digesters, for example, by converting animal and human waste through biogas digesters, and at what costs the benefits are realized. At a societal level, the purpose is to understand the costs and benefits of biogas digesters relative to the situation of rural communities who do not have flush toilets and have no appropriate waste disposal services while they incur electricity costs. Multiple regression analysis was used to determine the effect of biogas digesters on electricity availability and waste management. The results showed that beneficiaries spent less on electricity using household waste, and also waste disposal costs were eliminated from household expenses. A move to biogas energy production can be beneficial to rural households. It is economically and environmentally friendly. Small-scale farmers need to be introduced to agricultural innovations that can assist them in producing nutritious crops at a low cost. This can be a good opportunity to start an agribusiness that focuses on organic crops. Extensions and training institutions have to play a part in supporting households to develop entrepreneurial skills. Cost-benefit analysis showed that the benefits of biogas exceed the costs of the biogas projects. This implies that this technology should be promoted in rural households. Government financial incentives must be put in place to motivate a generation of organic Agri-prenuers.

Keywords: Agri-prenuers, biogas digester, biogas energy, disposal costs

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Authors: A. B. A. Ahmed, D. I. Amar, R. M. Taha

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This research aims to investigate callus induction, somatic embryogenesis and indirect plant regeneration of Crassula ovata (Mill.) Druce – the famous ornamental plant. Experiment no.1: Callus induction was obtained from leaf and stem explants on Murashige and Skoog (MS) medium supplemented with various plant growth regulators (PGRs). Effects of different PGRs, plant regeneration and subsequent plantlet conversion were also assessed. Indirect plant regeneration was achieved from the callus of stem explants by the addition of 1.5 mg/L Kinetin (KN) alone. Best shoot induction was achieved (6.5 shoots/per explant) after 60 days. For successful rooting, regenerated plantlets were sub-cultured on the same MS media supplemented with 1.5 mg/L KN alone. The rooted plantlets were acclimatized and the survival rate was 90%. Experiment no.2: Results revealed that 0.5 mg/L 2,4-D alone and in combination with 1.0 mg/L 6-Benzyladenine (BA) gave 89.8% callus from the stem explants as compared to leaf explants. Callus proliferation and somatic embryo formation were also evaluated by ‘Double Staining Method’ and different stages of somatic embryogenesis were revealed by scanning electron microscope. Full Strength MS medium produced the highest number (49.6%) of cotyledonary stage somatic embryos (SEs). Mature cotyledonary stage SEs developed into plantlets after 12 weeks of culture. Well-rooted plantlets were successfully acclimatized at the survival rate of 85%. Indirectly regenerated plants did not show any detectable variation in morphological and growth characteristics when compared with the donor plant.

Keywords: callus induction, indirect plant regeneration, double staining, somatic embryogenesis, Crassula ovata

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Authors: Timo Miebach, Kirsten Hoeper, Carolin Felix

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In times of competitive pressures and demographic change, hospitals have to reconsider their strategies as a company. Due to the fact, that operations are one of the main income and one of the primary cost drivers otherwise, a process-oriented approach and an efficient use of resources seems to be the right way for getting a consistent market position. Thus, the efficient operation room occupancy planning is an important cause variable for the success and continued the existence of these institutions. A high utilization of resources is essential. This means a very high, but nevertheless sensible capacity-oriented utilization of working systems that can be realized by avoiding downtimes and a thoughtful occupancy planning. This engineering approach should help hospitals to reach her break-even point. Firstly, the aim is to establish a strategy point, which can be used for the generation of a planned throughput time. Secondly, the operation planning and control should be facilitated and implemented accurately by the generation of time modules. More than 100,000 data records of the Hannover Medical School were analyzed. The data records contain information about the type of conducted operation, the duration of the individual process steps, and all other organizational-specific data such as an operating room. Based on the aforementioned data base, a generally valid model was developed by an analysis to define a strategy point which takes the conflict of capacity utilization and low overtime into account. Furthermore, time modules were generated in this work, which allows a simplified and flexible operation planning and control for the operation manager. By the time modules, it is possible to reduce a high average value of the idle times of the operation rooms. Furthermore, the potential is used to minimize the idle time spread.

Keywords: capacity, operating room, surgery planning and control, utilization

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Authors: Muhammad Ejaz1

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Rework has been defined as: "The unnecessary effort of re-doing a process or activity that was incorrectly implemented the first time." A great threat to the construction industry is rework. By and large due attention has not been given to avoid the causes of reworks, resulting time and cost over runs, in civil engineering projects. Besides these direct consequences, there might also be indirect consequences, such as stress, de-motivation or loss of future clients. When delivered products do not meet the requirements or expectations, work often has to be redone. Rework occurs in various phases of the construction process or in various divisions of a company. Rework can occur on the construction site or in a management department due to for example bad materials management. Rework can also have internal or external origins. Changes in clients’ expectations are an example of an external factor that might lead to rework. Rework can cause many costs to be higher than calculated at the start of the project. Rework events can have many different origins and for this research they have been categorized into four categories; changes, errors, omissions, and damages. The research showed that the major source of reworks were non professional attitude from technical hands and ignorance of total quality management principals by stakeholders. It also revealed that sources of reworks have not major differences among project categories. The causes were further analyzed by interviewing employees. Based on existing literature an extensive list of rework causes was made and during the interviews the interviewees were asked to confirm or deny statements regarding rework causes. The causes that were most frequently confirmed can be grouped into the understanding categories. 56% (max) of the causes are change-related, 30% (max) is error-related and 18% (max) falls into another category. Therefore, by recognizing above mentioned factors, reworks can be reduced to a great extent.

Keywords: total quality management, construction industry, cost overruns, rework, material management, client’s expectations

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Authors: Futoshi Kakuta, Takashi Ishida

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Sewage sludge is a biomass resource that can create a solid fuel and electricity. Utilizing sewage sludge as a renewable energy can contribute to the reduction of greenhouse gasses. In Japan, 'The National Plan for the Promotion of Biomass Utilization' and 'The Priority Plan for Social Infrastructure Development' were approved at cabinet meetings in December 2010 and August 2012, respectively, to promote the energy utilization of sewage sludge. This study investigated costs and greenhouse gas emission in different sewage sludge treatments with technologies for energy from sewage sludge. Costs were estimated on capital costs and O&M costs including energy consumption of solid fuel plants and biogas power generation plants for sewage sludge. Results showed that cost of sludge digestion treatment with solid fuel technologies was 8% lower than landfill disposal. Greenhouse gas emission of sludge digestion treatment with solid fuel technologies was also 6,390t as CO2 smaller than landfill disposal. Biogas power generation reduced the electricity of a wastewater treatment plant by 30% and the cost by 5%.

Keywords: global warming countermeasure, energy technology, solid fuel production, biogas

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Authors: Anna Dolinayova, Jozef Danis, Juraj Camaj

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The report deals with comparison of traffic accidents in Slovak republic in road and rail transport since year 2009 until 2014, with evaluation of external costs and consequently with the possibilities of their internalization. The results of road traffic accidents analysis are realized in line with after-effects they have caused; in line with main cause, place of origin (within or out of town) and in accordance to age of people they were killed or hard, eventually easy injured in traffic accidents. Evaluation of individual after-effects is carried in terms of probability of traffic accidents occurrence.

Keywords: external costs, traffic accident, rail transport, road transport

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Authors: Zhou BingHai, Fradet Victor

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Lean philosophy follows the simple principle of “creating more value with fewer resources”. In accordance with this policy, material handling can be managed by the mean of Kanban which by triggering every feeding tour only when needed regulates the flow of material in one of the most efficient way. This paper focuses on Kanban Supermarket’s parameters and their optimization on a purely cost-based point of view. Number and size of forklifts, as well as size of the containers they carry, will be variables of the cost function which includes handling costs, inventory costs but also shortage costs. With an innovative computational approach encoded into industrial engineering software Tecnomatix and reproducing real-life conditions, a fictive assembly line is established and produces a random list of orders. Multi-scenarios are then run to study the impact of each change of parameter and the variation of costs it implies. Lastly, best-case scenarios financially speaking are selected.

Keywords: Kanban, supermarket, parts-feeding policies, multi-scenario simulation, assembly line

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Authors: Aphiradee Wongsiri

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The purpose of this study is to investigate the role of social capital in the relationships between community influences consisting of community attachment and community support on civic engagement among the household-header and non-household header volunteers. The data were collected from 216 household header volunteers and 204 non-household header volunteers across rural communities in seven sub-districts in Nong Khai Province, Thailand. A good fit structural equation modeling (SEM) was tested for both groups. The findings indicate that the SEM model for the group of household header volunteers, social capital had a direct effect on civic engagement, while community support had an indirect effect on civic engagement through social capital. On the other hand, the SEM model for the group of non-household header volunteers shows that social capital had a direct effect on civic engagement. Also, community attachment and community support had indirect effects on civic engagement through social capital. Therefore, social capital in this study played an important role as a mediator in the relationships between community influences and civic engagement in both groups.

Keywords: social capital, civic engagement, volunteer, rural development

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Authors: Sinem O. Aktan, Musa Y. Akkurt

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Experimental pressure calibration methods can be classified into three areas: (1) measurements in liquid or gas systems, (2) measurements in static-solid media systems, and (3) measurements in dynamic shock systems. Fluid (liquid and gas) systems high accuracies can be obtainable and commonly used for the calibration method of a pressure sensor. Pressure calibrations can be performed for metrological traceability in two ways, which are on-site (field) and in the laboratory. Laboratory and on-site calibration procedures and the requirements of the DKD-R-6-1 and Euramet cg-17 guidelines will also be addressed. In this study, calibration methods of direct and indirect reading pressure sensor and measurement uncertainty contributions will be explained.

Keywords: pressure metrology, pressure calibration, dead-weight tester, pressure uncertainty

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Authors: Norm Josephy, Lucy Kimball, Victoria Steblovskaya

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Hedging of a portfolio of European options under proportional transaction costs is considered. Our discrete time financial market model extends the binomial market model with transaction costs to the case where the underlying stock price ratios are distributed over a bounded interval rather than over a two-point set. An optimal hedging strategy is chosen from a set of admissible non-self-financing hedging strategies. Our approach to optimal hedging of a portfolio of options is based on theoretical foundation that includes determination of a no-arbitrage option price interval as well as on properties of the non-self-financing strategies and their residuals. A computational algorithm for optimizing an investor relevant criterion over the set of admissible non-self-financing hedging strategies is developed. Applicability of our approach is demonstrated using both simulated data and real market data.

Keywords: extended binomial model, non-self-financing hedging, optimization, proportional transaction costs

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Authors: Aboulkacem El Mehdi

Abstract:

We develop a theoretical model at the crossroads of labour and urban economics, used for explaining the mechanism through which the duration of home-workplace trips and their monetary costs impact the labour demand and supply in a spatially scattered labour market and how they are impacted by a change in passenger transport infrastructures and services. The spatial disconnection between home and job opportunities is referred to as the spatial mismatch hypothesis (SMH). Its harmful impact on employment has been subject to numerous theoretical propositions. However, all the theoretical models proposed so far are patterned around the American context, which is particular as it is marked by racial discrimination against blacks in the housing and the labour markets. Therefore, it is only natural that most of these models are developed in order to reproduce a steady state characterized by agents carrying out their economic activities in a mono-centric city in which most unskilled jobs being created in the suburbs, far from the Blacks who dwell in the city-centre, generating a high unemployment rates for blacks, while the White population resides in the suburbs and has a low unemployment rate. Our model doesn't rely on any racial discrimination and doesn't aim at reproducing a steady state in which these stylized facts are replicated; it takes the main principle of the SMH -the spatial disconnection between homes and workplaces- as a starting point. One of the innovative aspects of the model consists in dealing with a SMH related issue at an aggregate level. We link the parameters of the passengers transport system to employment in the whole area of a city. We consider here a city that consists of four areas: two of them are residential areas with unemployed workers, the other two host firms looking for labour force. The workers compare the indirect utility of working in each area with the utility of unemployment and choose between submitting an application for the job that generate the highest indirect utility or not submitting. This arbitration takes account of the monetary and the time expenditures generated by the trips between the residency areas and the working areas. Each of these expenditures is clearly and explicitly formulated so that the impact of each of them can be studied separately than the impact of the other. The first findings show that the unemployed workers living in an area benefiting from good transport infrastructures and services have a better chance to prefer activity to unemployment and are more likely to supply a higher 'quantity' of labour than those who live in an area where the transport infrastructures and services are poorer. We also show that the firms located in the most accessible area receive much more applications and are more likely to hire the workers who provide the highest quantity of labour than the firms located in the less accessible area. Currently, we are working on the matching process between firms and job seekers and on how the equilibrium between the labour demand and supply occurs.

Keywords: labour market, passenger transport infrastructure, spatial mismatch hypothesis, urban economics

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Authors: Abdullah Alotaiq

Abstract:

The transition to low-carbon power generation is essential for mitigating climate change and achieving sustainability. This process, however, entails considerable costs, and understanding the factors influencing these costs is critical. This is necessary to cater to the increasing demand for low-carbon electricity across the heating, industry, and transportation sectors. A crucial aspect of this transition is identifying cost-effective and feasible paths for decarbonization, which is integral to global climate mitigation efforts. It is concluded that hybrid solutions, combining different low-carbon technologies, are optimal for minimizing costs and enhancing flexibility. These solutions also address the challenges associated with phasing out existing fossil fuel-based power plants and broadening the spectrum of low-carbon power generation options.

Keywords: review, power generation, energy transition, decarbonisation

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Authors: Szerena Vajkovszki

Abstract:

Our worldwide aging society, especially in developed countries, including members of EU, raise sophisticated sociological and economic issues and challenges to be met. As declining fertility has outstanding influence underlying this trend, numerous studies have attempted to identify, describe, measure and interpret contributing factors of the fertility rate, out of which relatively few revealed the impact of religion. Identified, examined and influential factors affecting birth rate as stated by the present scientific publications are more than a dozen out of which religious beliefs, traditions, and cultural norms were examined first with a special focus on abortion and forms of birth control. Nevertheless, connected to religion, not only these topics are crucial regarding fertility, but many others as well. Among many religious guidelines, we can separate two major categories: direct and indirect. The aim of this research was to understand what are the most crucial identified (family values, gender related behaviors, religious sentiments) and not yet identified most influential contributing religious factors. Above identifying these direct or indirect factors, it is also important to understand to what extent and how do they influence fertility, which requires a wider (inter-discipline) perspective. As proved by previous studies religion has also an influential role on health, mental state, well-being, working activity and many other components that are also related to fertility rates. All these components are inter-related. Hence direct and indirect religious effects can only be well understood if we figure out all necessary fields and their interaction. With the help of semi-structured opened interviews taking place in different countries, it was showed that indeed Buddhism has significant direct and indirect effect on fertility. Hence the initial hypothesis was proved. However, the interviews showed an overall positive effect; the results could only serve for a general understanding of how Buddhism affects fertility. Evolution of Buddhism’s direct and indirect influence may vary in different nations and circumstances according to their specific environmental attributes. According to the local patterns, with special regard to women’s position and role in the society, outstandingly indirect influences could show diversifications. So it is advisory to investigate more for a deeper and clearer understanding of how Buddhism function in different socioeconomic circumstances. For this purpose, a specific and detailed analysis was developed from recent related researches about women’s position (including family roles and economic activity) in Hungary with the intention to be able to have a complex vision of crucial socioeconomic factors influencing fertility. Further interviews and investigations are to be done in order to show a complex vision of Buddhism’s direct and indirect effect on fertility in Hungary to be able to support recommendations and policies pointing to higher fertility rates in the field of social policies. The present research could serve as a general starting point or a common basis for further specific national investigations.

Keywords: Buddhism, children, fertility, gender roles, religion, women

Procedia PDF Downloads 122

Authors: Edita Baltrėnaitė, Pranas Baltrėnas, Eglė MarčIulaitienė, Mantas PranskevičIus, Valeriia Chemerys

Abstract:

The growing demand for organic products in the market promotes their use in various fields. One of such products is biochar. Among the innovative environmental applications, biochar has the potential as an adsorbent for retaining contaminants in environmental engineering and agrotechnical systems. Artificial modification of biochar can improve its adsorption capacity. However, indirect/natural change of biochar composition (e.g., contaminated biomass) based on syngenetic elements provides prospects for new applications of biochar as well as decreases the modification costs. Natural lignocellulosic and biochar composition variations would lead to a new field of application of biochar and reduce resources for biochar modifications. The aim of this study was to determine the influence of syngenetic elements of biochar’s feedstock on the physicochemical properties of lignocellulosic biochar. Syngenetic elements (e.g., Zn, Cu, Ni, Pb, Mg) and other intrinsic properties (e.g., lignin, COHN, moisture, ash) of indifferent types of lignocellulosic feedstock on the physicochemical characteristics of biochar are discussed.

Keywords: adsorption, lignocellulosic biochar, instrinsic properties, syngenetic elements

Procedia PDF Downloads 174

Authors: Hanen Khanchel, Karim Ben Kahla

Abstract:

Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.

Keywords: VSM, waste, production time, kaizen, cartography, improvement

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Authors: Havisha Banda

Abstract:

Recent advancements in technology have facilitated commerce around the globe. The online medium of commerce has provided and will continue to provide great opportunities for consumers and businesses. Advancements in technology enable apparel stores, for instance, to improve their online services by using personalized virtual models allowing consumers to visualize the product on the model to determine correct sizing and fit. In addition to many advantages in online shopping the consumers will also have to undergo many types of switching costs in this process of buying apparel online. This study is to identify such switching costs and switching benefits from traditional shopping to online shopping and to understand what the consumers value the most. The scope of this study is to understand the types of switching costs and the factors that actually allow the consumers to shift from brick and mortar to online shopping and also to understand why a certain set of customers consider to purchase offline. Hence this study helps to understand the perceived cost and perceived benefit relation that the consumer draws in purchasing the garments online. This will help the upcoming e-commerce sites and brick and mortar store to understand the various factors and formulate new policies and implement strategies in their own ways to attract the customers and to retain them. A sample of 35 is considered for the process of laddered interviews. In the era of e-commerce there are people who feel comfortable to shop in a retail store rather than online purchase. Few respondents who shop online do not prefer to shop apparel online. Few respondents said that they shop online only for apparels. Most of the variables match in terms of switching costs and also in regard to benefits.

Keywords: e-commerce, switching costs, switching benefits, apparel shopping

Procedia PDF Downloads 291