Search results for: nitrogen content and stock

Authors: Azin Nasrollah Zadeh

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A factorial experiment was applied to evaluate the effect of chemical and biological fertilizer on yield, total nitrogen uptake and NHI of rice. Four biological treatments including:(M1:no fertilizer),( M2:10 ton/ha cow dung ),(M3:20 ton/ha cow dung) and (M4:5 ton/ha azolla compost) and four chemical fertilizer treatments including: (S1: no fertilizer),(S2:40 kg N /ha),(S3:60 kg N /ha) and ( S4:80 kg N /ha ) were compared. Results showed that highest rate of yield (3387 kg/ha) and total nitrogen uptake (81.4 kg/ha) were reached the highest value at M4. Among the chemical fertilizers the highest grain yield (3373 kg/ha) and total nitrogen uptake (87.7) belonged to highest nitrogen level (S4).Also biological and chemical fertilizers were no significant on Harvest index (NHI). Interaction effect of chemical × biological fertilizers didn't show significant difference between all parameters except of yield, as the most grain yield were obtained in M4S4. So it can be concluded that using of bioilogical fertilizers at appropriate rate and type, considering plant requirement, may improve grain yield, nitrogen uptake and use efficiency in rice.

Keywords: azolla, fertilizer, nitrogen uptake, rice, yield

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Authors: Taisier A. Zoubi, Feras Salama, Mahmud Hossain, Yass A. Alkafaji

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The purpose of this study is to examine the equity pricing of other comprehensive income when earnings are disaggregated into several components. Our findings indicate that other comprehensive income can better explain variation in stock returns when net income is reported in a disaggregated form. Additionally, we found that disaggregating both net income and other comprehensive income can explain more of the variation in the stock returns than the two summary components of comprehensive income. Our results survive a series of robustness checks.

Keywords: market valuation, other comprehensive income, value-relevance, incremental information content

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Kanhaiya Singh

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Indian corporate sector has been raising resources through various international financial instruments important among them are Global depository receipts (GDRs) and American Depository Receipts (ADRs). The purpose of raising resources through such instruments is multifold such as lower cost of capital, increased visibility of the company, liberal tax environment, increased trading liquidity etc. One of the significant reason is also the value addition of the company in terms of market capitalization. Obviously, the stocks of such companies are cross listed, one in India and other at the International stock exchange. The sensitivity and movements of stock prices on one stock exchange as compared to other may have an impact on the price movement of the particular scrip. If there is any relationship exists is an issue of study. Having this in view this study is an attempt to identify the extent of impact of price movement of the scrip on one stock exchange on account of change in the prices on the counter stock exchange. Also there is an attempt to find out the difference between pre and post cross listed domestic firm. The study also analyses the impact of exchange rate movements on stock prices.

Keywords: ADR, GDR, cross listing, liquidity, exchange rate

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Authors: Wilaiwan Sornpoon, Sébastien Bonnet, Savitri Garivait

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Open burning of sugarcane fields is recognized to have a negative impact on soil by degrading its properties, especially soil organic carbon (SOC) content. Better understating the effect of open burning on soil carbon dynamics is crucial for documenting the carbon sequestration capacity of agricultural soils. In this study, experiments to investigate soil carbon stocks under burned and unburned sugarcane plantation systems in Thailand were conducted. The results showed that cultivation fields without open burning during 5 consecutive years enabled to increase the SOC content at a rate of 1.37 Mg ha-1y-1. Also it was found that sugarcane fields burning led to about 15% reduction of the total carbon stock in the 0-30 cm soil layer. The overall increase in SOC under unburned practice is mainly due to the large input of organic material through the use of sugarcane residues.

Keywords: soil organic carbon, soil inorganic carbon, carbon sequestration, open burning, sugarcane

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Authors: Pradeep Lamichhane, Nima Pourali, E. V. Rebrov, Volker Hessel

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Nitrogen fixation is critical for plants for the biosynthesis of protein and nucleic acid. Most of our atmosphere is nitrogen, yet plants cannot directly absorb it from the air, and natural nitrogen fixation is insufficient to meet the demands. This experiment used a fast-modulated surface-confined atmospheric pressure plasma created by a 6 kV (peak-peak) sinusoidal power source with a repetition frequency of 68 kHz to fix nitrogen. Plasmas have been proposed for excitation of nitrogen gas, which quickly oxidised to NOX. With different N2/O2 input ratios, the rate of NOX generation was investigated. The rate of NOX production was shown to be optimal for mixtures of 60–70% O2 with N2. To boost NOX production in plasma, metal oxide catalysts based on TiO2 were coated over the dielectric layer of a reactor. These results demonstrate that nitrogen activation was more advantageous in surface-confined plasma sources because micro-discharges formed on the sharp edges of the electrodes, which is a primary function attributed to NOX synthesis and is further enhanced by metal oxide catalysts. The energy-efficient and sustainable NOX synthesis described in this study will offer a fresh perspective for ongoing research on green nitrogen fixation techniques.

Keywords: nitrogen fixation, fast-modulated, surface-confined, sustainable

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Authors: Quang Dong Dang

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This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020.

Keywords: Bayesian multilevel model, income inequality, inverted u-shaped hypothesis, stock market development, wealth inequality

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Authors: Tarah Bouaricha

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The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

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Authors: Irfan Ullah Munir, Shen Yue, Muhammad Shahzad Ijaz, Saad Hussain, Syeda Yumna Zaidi

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Financial literacy is fundamental to every decision-making process and has received attention from researchers, regulatory bodies and policy makers in the recent past. This study is an attempt to evaluate financial literacy in an emerging economy, particularly Pakistan, and its influence on people's stock market participation. Data of this study was collected through a structured questionnaire from a sample of 300 respondents. EFA is used to check the convergent and discriminant validity. Data is analyzed using Hayes (2013) approach. A set of demographic control variables that have passed the mean difference test is used. We demonstrate that participants with financial literacy tend to invest more in the stock market. We also find that association among financial literacy and participation in stock market gets moderated by gender.

Keywords: Financial literacy, Stock market participation, Gender, PSX

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Authors: Nibedita Pani, Vishnu Tejani, T. S. Anantha Singh

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Water pollution resulting from discharge of partial/not treated textile wastewater containing high carbon and nitrogen pollutants pose a huge threat to the environment, ecosystem, and human health. It is essential to remove carbon- and nitrogen-based organic pollutants more effectively from industrial wastewater before discharging. The present study focuses on removal of carbon-based pollutant in particular COD (chemical oxygen demand) and nitrogen-based pollutants, in particular, ammoniacal nitrogen by Fenton oxidation process using Fe²⁺ and H₂O₂ as reagents. The study was carried out with high strength wastewater containing initial COD 5632 mg/L and NH⁴⁺-N 1372 mg/L. The major operating condition like pH was varied between 1.0 to 4.0. The maximum degradation was obtained at pH 3.0 taking the molar ratio of Fe²⁺/H₂O₂ as 1:1. At this pH, the removal efficiencies of COD and ammoniacal nitrogen were found to be 77.27% and 74.9%, respectively. The Fenton process can be the best alternative for the simultaneous removal of COD and NH4+-N from industrial wastewater.

Keywords: ammoniacal nitrogen, COD, Fenton oxidation, industrial wastewater

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Authors: Ali W. Alattabi, Khalid S. Hashim, Hassnen M. Jafer, Ali Alzeyadi

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This study was performed to optimise the react time (RT) and study its effects on the removal rates of nitrogen compounds in a sequencing batch reactor (SBR) treating synthetic industrial wastewater. The results showed that increasing the RT from 4 h to 10, 16 and 22 h significantly improved the nitrogen compounds’ removal efficiency, it was increased from 69.5% to 95%, 75.7 to 97% and from 54.2 to 80.1% for NH₃-N, NO₃-N and NO₂-N respectively. The results obtained from this study showed that the RT of 22 h was the optimum for nitrogen compounds removal efficiency.

Keywords: ammonia-nitrogen, retention time, nitrate, nitrite, sequencing batch reactor, sludge characteristics

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Authors: Philemon Rakoto

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This paper tests the improvement of financial reporting quality when firms award stock options to their executives. The originality of this study is that we introduce the moderating effect of business ethics in the model. The sample is made up of 116 Canadian high-technology firms with available data for the fiscal year ending in 2012. We define the quality of financial reporting as the value relevance of accounting information as developed by Ohlson. Our results show that executive stock option award alone does not improve the quality of financial reporting. Rather, the quality improves when a firm awards stock options to its executives and investors perceive that the level of business ethics in that firm is high.

Keywords: business ethics, Canada, high-tech firms, stock options, value relevance

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Authors: He Chao, Zhang Lei, Liu Ran, Li Ang

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Temperature regulating system by gaseous nitrogen is of importance to the space environment simulator, which keep the shrouds in the temperature range from -150℃ to +150℃. Liquid nitrogen spray equipment is one of the most critical parts in the temperature regulating system by gaseous nitrogen. Y type jet atomizer and internal mixing atomizer of the liquid nitrogen spray equipment are studied in this paper, 2D/3D atomizer model was established and grid division was conducted respectively by the software of Catia and ICEM. Based on the above preparation, numerical simulation on the spraying process of the atomizer by FLUENT is performed. Using air and water as the medium, comparison between the tests and numerical simulation was conducted and the results of two ways match well. Hence, it can be conclude that this atomizer model can be applied in the numerical simulation of liquid nitrogen spray equipment.

Keywords: space environmental simulator, liquid nitrogen spray, Y type jet atomizer, internal mixing atomizer, numerical simulation, fluent

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Authors: A. S. Talaab, Safaa, A. Mahmoud, Hanan S. Siam

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A field experiment was conducted during the winter season of 2013/2014 in the barley production area of Dakhala – New Valley Governorate, Egypt to assess the effect of nitrogen rate and time of N fertilizer application on barley grain yield, yield components and N use efficiency of barley and their association with grain yield. The treatments consisted of three levels of nitrogen (0, 70 and 100 kg N/acre) and five application times. The experiment was laid out as a randomized complete block design with three replication. Results revealed that barley grain yield and yield components increased significantly in response to N rate. Splitting N fertilizer amount at several times result in significant effect on grain yield, yield components, protein content and N uptake efficiency when compared with the entire N was applied at once. Application of N at rate of 100 kg N/acre resulted in accumulation of nitrate in the subsurface soil > 30cm. When N application timing considered, less NO3 was found in the soil profile with splitting N application compared with all preplans application.

Keywords: nitrogen use efficiency, splitting N fertilizer, barley, NO3

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Authors: Shraddha Jain Sharma, Ratnalata Gupta

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Predicting stock movements in the financial market is both difficult and rewarding. Analysts and academics are increasingly using advanced approaches such as machine learning techniques to anticipate stock price patterns, thanks to the expanding capacity of computing and the recent advent of graphics processing units and tensor processing units. Stock market prediction is a type of time series prediction that is incredibly difficult to do since stock prices are influenced by a variety of financial, socioeconomic, and political factors. Furthermore, even minor mistakes in stock market price forecasts can result in significant losses for companies that employ the findings of stock market price prediction for financial analysis and investment. Soft computing techniques are increasingly being employed for stock market prediction due to their better accuracy than traditional statistical methodologies. The proposed research looks at the need for soft computing techniques in stock market prediction, the numerous soft computing approaches that are important to the field, past work in the area with their prominent features, and the significant problems or issue domain that the area involves. For constructing a predictive model, the major focus is on neural networks and fuzzy logic. The stock market is extremely unpredictable, and it is unquestionably tough to correctly predict based on certain characteristics. This study provides a complete overview of the numerous strategies investigated for high accuracy prediction, with a focus on the most important characteristics.

Keywords: stock market prediction, artificial intelligence, artificial neural networks, fuzzy logic, accuracy, deep learning, machine learning, stock price, trading volume

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Authors: Anita Setianingrum, Oki S. Jaya, Zuherman Rustam

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Forecasting stock price is a challenging task due to the complex time series of the data. The complexity arises from many variables that affect the stock market. Many time series models have been proposed before, but those previous models still have some problems: 1) put the subjectivity of choosing the technical indicators, and 2) rely upon some assumptions about the variables, so it is limited to be applied to all datasets. Therefore, this paper studied a novel Adaptive Neuro-Fuzzy Inference System (ANFIS) time series model based on Support Vector Regression (SVR) for forecasting the stock market. In order to evaluate the performance of proposed models, stock market transaction data of TAIEX and HIS from January to December 2015 is collected as experimental datasets. As a result, the method has outperformed its counterparts in terms of accuracy.

Keywords: ANFIS, fuzzy time series, stock forecasting, SVR

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Authors: Hamid Hatami

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This experiment was included two cultivars i.e. Habbit and L17 (Main factor) with six fertilizer treatments i.e. control, seed inoculated with rhyzobium, base nitrogen + top-dress urea at R2 stage, base nitrogen + seed inoculated with rhyzobium + top-dress nitrogen at R2 stage, seed treated with humax + top-dress humax at R2 stage, base nitrogen + seed treated with humax + top-dress humax at R2 stage (sub factors ), as split-plot on the basis of RCBD with 3 replications at 2014. Treatment fertilizer of base nitrogen + seed treated with humax + top- dress humax at R2 stage and base nitrogen + top-dress urea in R2 stage had a significant superiority than the other fertilizer treatment in biological yield. L17 and Habbit with base nitrogen + seed treated with humax + top-dress humax in R2 stage and yield economical 5600 and 5767 kg/ha respectively, showed the most economical yield and Habbit cultivar with control and economical yield 3085 kg/ha showed the least economical yield among all the treatments. Results showed that fertilizer treatment of base nitrogen + seed treated with humax + top-dress humax in R2 stage and Habbit variety were suitable in this study.

Keywords: soybean, humax, rhyzobium, habbit

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Authors: Chukwuebuka Vincent Azuka, Chidimma Peace Odoh

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Changes in agricultural practices and land use influence the storage and release of soil organic carbon and soil structural dynamics. To investigate this in Nsukka, southeastern Nigeria, soil samples were collected at 0-10 cm, 10-20 cm and 20-30 cm from three locations; Ovoko (OV), Obukpa (OB) and University of Nigeria, Nsukka (UNN) and three land use types; cultivated land (CL), forest land (FL) and grassland (GL)). Data were subjected to analysis of variance (ANOVA) using SPSS. Also, correlations between organic carbon stock, structural stability indices and other soil properties were established. The result showed that Ksat was significantly (p < 0.05) influenced by location with mean values of 68 cmhr⁻¹,121.63 cmhr⁻¹, 8.42 cmhr⁻¹ in OV, OB and UNN respectively. The MWD and aggregate stability (AS) were significantly (p < 0.05) influenced by land use and depth. The mean values of MWD are 0.85 (CL), 1.35 (FL) and 1.45 (GL), and 1.66 at 0-10 cm, 1.08 at 10-20 cm and 0.88 mm at 20-30 cm. The mean values of AS are; 27.66% (CL), 46.39% (FL) and 49.81% (GL), and 53.96% at 0-10cm, 40.22% at 10-20cm and 29.57% at 20-30cm. Clay flocculation (CFI) and dispersion indices (CDI) differed significantly (p < 0.05) among the land use. Soil pH differed significantly (p < 0.05) across the land use and locations with mean values ranging from 3.90-6.14. Soil organic carbon (SOC) significantly (p < 0.05) differed across locations and depths. SOC decreases as depth increases depth with mean values of 15.6 gkg⁻¹, 10.1 gkg⁻¹, and 8.6 gkg⁻¹ at 0-10 cm, 10-20 cm, and 20-30 cm respectively. SOC in the three land use was 8.8 g kg-1, 15.2 gkg⁻¹ and 10.4 gkg⁻¹ at CL, FL, and GL respectively. The highest aggregate-associated carbon was recorded in 0.5 mm across the land use and depth except in cultivated land and at 20-30 cm which recorded their highest SOC at 1mm. SOC stock, total nitrogen (TN) and CEC were significantly (p < 0.05) different across the locations with highest values of 23.43 t/ha, 0.07g/kg and 14.27 Cmol/kg respectively recorded in UNN. SOC stock was significantly (p < 0.05) influenced by depth as follows; 0-10>10-20>20-30 cm. TN was low with mean values ranging from 0.03-0.07 across the locations, land use and depths. The mean values of CEC ranged from 9.96-14.27 Cmol kg⁻¹ across the locations and land use. SOC stock showed correlation with silt, coarse sand, N and CEC (r = 0.40*, -0.39*, -0.65** and 0.64** respectively. AS showed correlation with BD, Ksat, pH in water and KCl, and SOC (r = -0.42*, 0.54**, -0.44*, -0.45* and 0.49** respectively. Thus, land use and location play a significant role in sustainable management of soil resources.

Keywords: agricultural practices, structural dynamics, sequestration, soil resources, management

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Authors: Nur Sulihatimarsyila Abd Wafti, Harrison Lik Nang Lau, Nabilah Kamaliah Mustaffa, Nur Azreena Idris

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The use of biolubricant has gained its popularity over the last decade. Base stock produced using methyl ester and trimethylolethane (TME) can be potentially used for biolubricant production due to its biodegradability, non-toxicity and good thermal stability. The synthesis of biolubricant base stock e.g. triester (TE) via transesterification of palm methyl ester and TME in the presence of sodium methoxide as the catalyst was conducted. Factors influencing the reaction conditions were investigated including reaction time, temperature and pressure. The palm-based biolubricant base stock produced was analysed for its monoester (ME), diester (DE) and TE contents using gas chromatography as well as its lubricating properties such as viscosity, viscosity index, oxidation stability, and density. The resulting base stock containing 90 wt% TE was successfully synthesized.

Keywords: biolubricant, methyl ester, triester transesterification, lubricating properties

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Authors: A. M. Attalla, A. F. lbrahim, Laila Y. Mostaffa

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This study was conducted during three seasons 2010, 2011 and 2012 on Zahhloul date palm cultivar grown in calcareous soil, Alexandria governorate, Egypt. The palms received recommended dose of mineral N only or plus different rates of organic N with or without bio fertilizer to study the effect of such treatments on date palm yield and fruit nitrate and nitrite content due to its negative influence on human, animal and environment. The obtained results clarified that all used treatments of organic and bio fertilizers were effective in improving date palm yield and decreased fruit content of NO2 and NO3 in comparison with 100 % mineral N. It was also noticed that combined treatments of 50 % mineral N + 50 % organic manure with bio fertilizer is the superior treatments for increasing the values of yield and decreasing its content of NO2 and NO3. Hence, it could be concluded that, minimizing the use of chemical nitrogen fertilizer to half of recommended dose through addition of 50 % mineral N + 50 % organic manure with bio fertilizer and also, the utilization of organic and bio fertilizers is considered as a promising alternative for chemical fertilizers to avoid pollution and reduce the costs of mineral fertilizers.

Keywords: organic and bio fertilizers, mineral fertilizer, nitrate, nitrite, zaghloul date palm cv

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Authors: P. Sankar, P. James Daniel Paul, Siddhant Sahu

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A brief review of the empirical studies on the methodology of the stock market decision support would indicate that they are at a threshold of validating the accuracy of the traditional and the fuzzy, artificial neural network and the decision trees. Many researchers have been attempting to compare these models using various data sets worldwide. However, the research community is on the way to the conclusive confidence in the emerged models. This paper attempts to use the automotive sector stock prices from National Stock Exchange (NSE), India and analyze them for the intra-sectorial support for stock market decisions. The study identifies the significant variables and their lags which affect the price of the stocks using OLS analysis and decision tree classifiers.

Keywords: Indian automotive sector, stock market decisions, equity portfolio analysis, decision tree classifiers, statistical data analysis

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Authors: Antoni Wibowo, Harry Pujianto, Dewi Retno Sari Saputro

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The stock market can provide huge profits in a relatively short time in financial sector; however, it also has a high risk for investors and traders if they are not careful to look the factors that affect the stock market. Therefore, they should give attention to the dynamic fluctuations and movements of the stock market to optimize profits from their investment. In this paper, we present a nonlinear autoregressive exogenous model (NARX) to predict the movements of stock market; especially, the movements of the closing price index. As case study, we consider to predict the movement of the closing price in Indonesia composite index (IHSG) and choose the best structures of NARX for IHSG’s prediction.

Keywords: NARX (Nonlinear Autoregressive Exogenous Model), prediction, stock market, time series

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Authors: Mouataz Zreika, Maria Estela Varua

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Stock investment decisions are often made based on current events of the global economy and the analysis of historical data. Conversely, visual representation could assist investors’ gain deeper understanding and better insight on stock market trends more efficiently. The trend analysis is based on long-term data collection. The study adopts a hybrid method that combines the Clustering algorithm and Force-directed algorithm to overcome the scalability problem when visualizing large data. This method exemplifies the potential relationships between each stock, as well as determining the degree of strength and connectivity, which will provide investors another understanding of the stock relationship for reference. Information derived from visualization will also help them make an informed decision. The results of the experiments show that the proposed method is able to produced visualized data aesthetically by providing clearer views for connectivity and edge weights.

Keywords: clustering, force-directed, graph drawing, stock investment analysis

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Authors: Serpil Türkyılmaz, Mesut Balıbey

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In this study, long memory properties in volatility of Turkey Stock Market are being examined through the FIGARCH, FIEGARCH and FIAPARCH models under different distribution assumptions as normal and skewed student-t distributions. Furthermore, structural changes in volatility of Turkey Stock Market are investigated. The results display long memory property and the presence of asymmetric effects of shocks in volatility of Turkey Stock Market.

Keywords: FIAPARCH model, FIEGARCH model, FIGARCH model, structural break

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Authors: Somnath Mukhuti, Prem Kumar Ghosh

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Background and significance of the study Indian stock market has undergone sudden changes after the current China crisis in terms of turnover, market capitalization, share prices, etc. The average returns on equity investment in both markets have more than three and half times after global financial crisis owing to the development of industrial activity, corporate sectors development, enhancement in global consumption, change of global financial association and fewer imports from developed countries. But the economic policies of both the economies are far different, that is to say, where Indian economy maintaining a conservative policy, Chinese economy maintaining an aggressive policy. Besides this, Chinese economy recently lowering its currency for increasing mysterious growth but Indian does not. But on August 24, 2015 Indian stock market and world stock markets were fall down due to the reason of Chinese stock market. Keeping in view of the above, this study seeks to examine the influence of Chinese stock on Indian stock market. Methodology This research work is based on daily time series data obtained from yahoo finance database between 2009 (April 1) to 2015 (September 28). This study is based on two important stock markets, that is, Indian stock market (Bombay Stock Exchange) and Chinese stock market (Shanghai Stock Exchange). In the course of analysis, the daily raw data were converted into natural logarithm for minimizing the problem of heteroskedasticity. While tackling the issue, correlation statistics, ADF and PP unit root test, bivariate cointegration test and causality test were used. Major findings Correlation statistics show that both stock markets are associated positively. Both ADF and PP unit root test results demonstrate that the time series data were not normal and were not stationary at level however stationary at 1st difference. The bivariate cointegration test results indicate that the Indian stock market was associated with Chinese stock market in the long-run. The Granger causality test illustrates there was a unidirectional causality between Indian stock market and Chinese stock market. Concluding statement The empirical results recommend that India’s stock market was not very much dependent on Chinese stock market because of Indian economic conservative policies. Nevertheless, Indian stock market might be sturdy if Indian economic policies are changed slightly and if increases the portfolio investment with Chinese economy. Indian economy might be a third largest economy in 2030 if India increases its portfolio investment and trade relations with both Chinese economy and US economy.

Keywords: Indian stock market, China stock market, bivariate cointegration, causality test

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Authors: Tânia F. C. V. Silva, Eloísa S. S. Vieira, João Pinto da Costa, Rui A. R. Boaventura, Vitor J. P. Vilar

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Sanitary landfill leachates are characterized as a complex mixture of diverse organic and inorganic contaminants, which are usually removed by combining different treatment processes. Due to its simplicity, reliability, high cost-effectiveness and high nitrogen content (mostly under the ammonium form) inherent in this type of effluent, the activated sludge biological process is almost always applied in leachate treatment plants (LTPs). The purpose of this work is to assess the effect of the main nitrification and denitrification variables on the nitrogen's biological removal, from mature leachates. The leachate samples were collected after an aerated lagoon, at a LTP nearby Porto, presenting a high amount of dissolved organic carbon (1.0-1.3 g DOC/L) and ammonium nitrogen (1.1-1.7 g NH4+-N/L). The experiments were carried out in a 1-L lab-scale batch reactor, equipped with a pH, temperature and dissolved oxygen (DO) control system, in order to determine the reaction kinetic constants at unchanging conditions. The nitrification reaction rate was evaluated while varying the (i) operating temperature (15, 20, 25 and 30ºC), (ii) DO concentration interval (0.5-1.0, 1.0-2.0 and 2.0-4.0 mg/L) and (iii) solution pH (not controlled, 7.5-8.5 and 6.5-7.5). At the beginning of most assays, it was verified that the ammonium stripping occurred simultaneously to the nitrification, reaching up to 37% removal of total dissolved nitrogen. The denitrification kinetic constants and the methanol consumptions were calculated for different values of (i) volatile suspended solids (VSS) content (25, 50 and 100 mL of centrifuged sludge in 1 L solution), (ii) pH interval (6.5-7.0, 7.5-8.0 and 8.5-9.0) and (iii) temperature (15, 20, 25 and 30ºC), using effluent previously nitrified. The maximum nitrification rate obtained was 38±2 mg NH4+-N/h/g VSS (25ºC, 0.5-1.0 mg O2/L, pH not controlled), consuming 4.4±0.3 mg CaCO3/mg NH4+-N. The highest denitrification rate achieved was 19±1 mg (NO2--N+NO3--N)/h/g VSS (30ºC, 50 mL of sludge and pH between 7.5 and 8.0), with a C/N consumption ratio of 1.1±0.1 mg CH3OH/mg (NO2--N+NO3--N) and an overall alkalinity production of 3.7±0.3 mg CaCO3/mg (NO2--N+NO3--N). The denitrification process showed to be sensitive to all studied parameters, while the nitrification reaction did not suffered significant change when DO content was changed.

Keywords: mature sanitary landfill leachate, nitrogen removal, nitrification and denitrification parameters, lab-scale activated sludge biological reactor

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Authors: Mahdi Karazmodeh, Pooyan Jafari

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One of the most interesting topics in finance is the relation between stock prices and exchange rates. During the past decades different stock markets in different countries have been the subject of study for researches. The volatilities of exchange rates and its effect on stock prices during the past 10 years have continued to be an attractive research topic. The subject of this study is one of the most important indices, FTSE 100. 20 firms with the highest market capitalization in 5 different industries are chosen. Firms are included in oil and gas, mining, pharmaceuticals, banking and food related industries. 5 different criteria have been introduced to evaluate the relationship between stock markets and exchange rates. Return of market portfolio, returns on broad index of Sterling are also introduced. The results state that not all firms are sensitive to changes in exchange rates. Furthermore, a Granger Causality test has been run to observe the route of changes between stock prices and foreign exchange rates. The results are consistent, to some level, with the previous studies. However, since the number of firms is not large, it is suggested that a larger number of firms being used to achieve the best results. However results showed that not all firms are affected by foreign exchange rates changes. After testing Granger Causality, this study found out that in some industries (oil and gas, pharmaceuticals), changes in foreign exchange rate will not cause any changes in stock prices (or vice versa), however, in banking sector the situation was different. This industry showed more reaction to these changes. The results are similar to the ones with Richards and Noel, where a variety of firms in different industries were evaluated.

Keywords: stock prices, foreign exchange rate, exchange rate exposure, Granger Causality

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Authors: Iting Chiang, Cheng-Yu Wei, Chin-Teng Kuo, Po-Sheng Hsu, Yo-Lun Yang, Yung-Chang Kang, Chien-Chon Chen, Chih-Yuan Chen

Abstract:

In recent years, it is reported that microalloying of nitrogen atoms within traditional Cr-Mo-V hot work tool steels can achieve better high temperature mechanical properties, which thus leads to such metallurgical approach widely utilized in the several commercial advanced hot work tool steels. Although the performance of hot work tool steel can be improved better by alloy composition design strategy, the influence of processing parameters on the mechanical property, especially on the service life of hot work tool steel, is still not fully understood yet. A longer service life of hot work tool steel can decrease the manufacturing cost effectively and thus become a research hot spot. According to several previous studies, it is generally acknowledged the service life of hot work tool steels can be increased effectively as the steels possessing higher hardness and toughness due to the formation and propagation of microcracks within the steel can be inhibited effectively. Therefore, in the present research, the designed experiments are primarily to explore the synergistic effect of nitrogen content and austenitization conditioning on the mechanical properties of hot work tool steels has been conducted and analyzed. No matter the nitrogen content, the results indicated the hardness of hot work tool steels increased as the austenitization treatment executed at higher temperature. On the other hand, an optimum toughness of hot work tool steel can be achieved as the austenitization treatment performed at a suitable temperature range. The possible explanation of such metallurgical phenomenon has been also proposed and analyzed in the present research.

Keywords: hot work tool steel, Cr-Mo-V, toughness, hardness, TEM

Procedia PDF Downloads 59

Authors: Lina Najafian, Hamidreza Vakilifard

Abstract:

The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

Procedia PDF Downloads 159

Authors: Brian H. Marsh

Abstract:

Nitrogen fertility is an important component for optimum potato yield and quality. Best management practices are necessary in regards to N applications to achieve these goals without applying excess N with may contribute to ground water contamination. Eight potato fields in the Southern San Joaquin Valley were sampled for nitrogen inputs and uptake, tuber and vine dry matter and residual soil nitrate-N. The fields had substantial soil nitrate-N prior to the potato crop. Nitrogen fertilizer was applied prior to planting and in irrigation water as needed based on in-season petiole sampling in accordance with published recommendations. Average total nitrogen uptake was 237 kg ha^-1 on 63.5 Mg ha^-1 tuber yield and nitrogen use efficiency was very good at 81 percent. Sixty-nine percent of the plant nitrogen was removed in tubers. Soil nitrate-N increased 14 percent from pre-plant to post-harvest averaged across all fields and was generally situated in the upper soil profile. Irrigation timing and amount applied did not move water into the lower profile except for a single location where nitrate also moved into the lower soil profile. Pre-plant soil analysis is important information to be used. Rotation crops having deeper rooting growth would be able to utilize nitrogen that remained in the soil profile.

Keywords: potato, nitrogen fertilization, irrigation management, leaching potential

Procedia PDF Downloads 459