Search results for: market capitalization growth

Authors: Mingbao Chen

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The blue economy is a new comprehensive marine economy integrated with resources, industries, and regions, and is an upgraded version of the marine economy. The blue economy attaches great importance to the coordinated development of the ecological environment and the economy, which is an emerging economic form advocated by all countries in the world. This paper constructs the model including four variables：natural capital, economic capital, intellectual capital, cultural capital. Theoretically, this paper deduces the function mechanism of variables on economic growth, and empirically calculates the driving force and influence of the blue economy on the national economy by using data of China's 2006-2015 year. The results show that natural capital and economic capital remain the main factors of blue growth in the blue economy. And with the development of economic society and technological progress, the role of intellectual capital and cultural capital is bigger and bigger. Therefore, promoting the development of marine science and technology and culture is the focus of the future blue economic development.

Keywords: blue growth, natural capital, intellectual capital, cultural capital

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Authors: A. Hidalgo, A. Desportes, E. Bonin, A. Kadaoui, T. Bouaricha

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Present paper is concerned with portfolio management with Black-Litterman (B-L) model. Considered stocks are exclusively limited to large companies stocks on US market. Results obtained by application of the model are presented. From analysis of collected Dow Jones stock data, remarkable explicit analytical expression of optimal B-L parameter τ, which scales dispersion of normal distribution of assets mean return, is proposed in terms of standard deviation of covariance matrix. Implementation has been developed in Matlab environment to split optimization in Markovitz sense from specific elements related to B-L representation.

Keywords: Black-Litterman, Markowitz, market data, portfolio manager opinion

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Authors: Saad Algharib, Jay Lee

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Urbanization is a complex phenomenon that occurs during the city’s development from one form to another. In other words, it is the process when the activities in the land use/land cover change from rural to urban. Since the oil exploration, Kuwait City has been growing rapidly due to its urbanization and population growth by both natural growth and inward immigration. The main objective of this study is to detect changes in urban land use/land cover and to examine the changing spatial patterns of urban growth in and around Kuwait City between 1989 and 2001. In addition, this study also evaluates the spatial patterns of the changes detected and how they can be related to the spatial configuration of the city. Recently, the use of remote sensing and geographic information systems became very useful and important tools in urban studies because of the integration of them can allow and provide the analysts and planners to detect, monitor and analyze the urban growth in a region effectively. Moreover, both planners and users can predict the trends of the growth in urban areas in the future with remotely sensed and GIS data because they can be effectively updated with required precision levels. In order to identify the new urban areas between 1989 and 2001, the study uses satellite images of the study area and remote sensing technology for classifying these images. Unsupervised classification method was applied to classify images to land use and land cover data layers. After finishing the unsupervised classification method, GIS overlay function was applied to the classified images for detecting the locations and patterns of the new urban areas that developed during the study period. GIS was also utilized to evaluate the distribution of the spatial patterns. For example, Moran’s index was applied for all data inputs to examine the urban growth distribution. Furthermore, this study assesses if the spatial patterns and process of these changes take place in a random fashion or with certain identifiable trends. During the study period, the result of this study indicates that the urban growth has occurred and expanded 10% from 32.4% in 1989 to 42.4% in 2001. Also, the results revealed that the largest increase of the urban area occurred between the major highways after the forth ring road from the center of Kuwait City. Moreover, the spatial distribution of urban growth occurred in cluster manners.

Keywords: geographic information systems, remote sensing, urbanization, urban growth

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Authors: João Boaventura Branco De Matos

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Currently, in Brazil, there is a considerable collection of publications on the supplementary health sector, but the vast majority is limited to retrospective examination of the sector. The present contribution starts from the diagnosis of an overwhelming change in the role of the State and its institutions, as well as an accelerated and no less forceful change in the way of producing goods and services, resulting in a clash between these different waves (state and market). This shock produces unique energy, capable of imposing major changes in the most varied sectors. Based on this diagnosis, there was an opportunity to offer the perspective and propositional study of regulatory measures relevant to the best conduct and performance of this sector in the future.

Keywords: private health regulation, state and market, forecasts in Brazilian regulation, political economy

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Authors: S. Susanti, V. P. Bintoro, A. Setiadi, S. I. Santoso, D. R. Febriandi

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Meat is a foodstuff of animal origin. It is perishable because a suitable medium for bacterial growth. That is why meat can be a potential hazard to humans. Several ways have been done to inhibit bacterial population in an effort to prolong the meat shelf-life. However, aberration sometimes happens in the practices of meat preservation, for example by using chemical material that possessed strong antibacterial activity like formaldehyde. For health reason, utilization of formaldehyde as a food preservative was forbidden because of DNA damage resulting cancer and birth defects. Therefore, it is important to seek a natural food preservative that is not harmful to the body. This study aims to reveal the potency of cashew apple as natural food preservative by measuring its antibacterial activity and marinating effect on the bacterial growth of beef and chicken meat. Antibacterial activity was measured by The Kirby-Bauer method while bacterial growth was determined by total plate count method. The results showed that inhibition zone of 10-30% cashew apple extract significantly wider compared to 0% extract on the medium of E. coli, S. aureus, S. typii, and Bacillus sp. Furthermore, beef marinated with 20-30% cashew apple extract and chicken meat marinated with 5-15% extract significantly less in the total number of bacteria compared to 0% extract. It can be concluded that marinating with 5-30% cashew apple extract can effectively inhibit the bacterial growth of beef and chicken meat. Moreover, the concentration of extracts to inhibit bacterial populations in chicken meat was reached at the lower level compared to beef. Thus, cashew apple is potential as a natural food preservative.

Keywords: bacterial growth, cashew apple, marinating, meat

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Authors: Parisa Alizadeh Oskuie, Shahram Baghban Ciruse

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The influence of arbuscular mycorrhizal (AM) fungus(Glomus mossea) on plant growth and leaf-water potential of tomato (lycopersicum esculentum L.cv.super star) were studied in potted culture water stress stress period of 3 months in greenhouse conditions with the soil matric potential maintained at Fc1, Fc2, Fc3, and Fc4 respectively (0.8,0.7,0.6,0.5 Fc). Seven-day-old seedlings of tomato were transferred to pots containing Glomus mossea or non-AMF. AM colonization significantly stimulated shoot dry matter and leaf-water potential but water stress significantly decreased leaf area, shoot dry matter colonization and leaf-water potential.

Keywords: leaf-water potential, plant growth, tomato, VA mycorrhiza, water-stress

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Authors: Meriem Hamla, Mohamed Benaicha, Sabrine Derbal

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In the present work, several materials such as M/glass (M = Pt, Mo) were investigated to test their suitability for studying the early nucleation stages and growth of copper-tin clusters. It was found that most of these materials stand as good substrates to be used in the study of the nucleation and growth of electrodeposited Cu-Sn alloys from aqueous solution containing CuCl2, SnCl2 as electroactive species and Na3C6H5O7 as complexing agent. Among these substrates, Pt shows instantaneous models followed by 3D diffusion-limited growth. On the other hand, the electrodeposited copper-tin thin films onto Mo substrate followed progressive nucleation. The deposition mechanism of the Cu-Sn films has been studied using stationary electrochemical techniques (cyclic voltammetery (CV) and chronoamperometry (CA). The structural, morphological and compositional of characterization have been studied using X-ray diffraction (XRD), scanning electron microscopy (SEM) and EDAX techniques respectively.

Keywords: electrodeposition, CuSn, nucleation, mechanism

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Tharsinithevy Kirupananthan

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This study analyzed the decision on growing three different crops which suit dry zone of Sri Lanka using the opportunity cost concept in economics. The variable cost of production of sugar cane, sweet orange, and soybean was 112,418.76, 13,463 and 10,928.08 Sri Lankan Rs. (LKR) per acre in the dry zone of Sri Lanka. The yield of the sugar cane, sweet orange, and soybean were 49.33 tons, 25,595 fruits, and 1032 kg per acre. The market price of the sugar cane, sweet orange, and soybean were 4200 LKR/ton, LKR 14.66 per fruit and LKR 89.69 per kg. The market value or the total income of the sugar cane, sweet orange, and soybean were LKR 207194.4, 283090.74, and 92560.08. The accounting profit of the sugar cane, sweet orange, and soybean was 94,775.64, 269,627.74, and 81,632 LKR per acre. Therefore, the opportunity cost of sugarcane per acre in terms of accounting profit was LKR. 269,627.74 from sweet orange and LKR 81,632 from soybean. The highest opportunity cost per acre in terms of accounting profit was found when soybean is produced instead of sweet orange. The opportunity cost which compared among the crops in terms of market value for sugar cane per acre was LKR 283090.74 of sweet orange and LKR 92560.08 of soybean. The highest opportunity cost both in terms of accounting profit and market value was found when growing soybean instead of sweet orange by using the resource per acre of land. The economic profit of sugar cane production in place of sweet orange was LKR -188315.1 per acre. The highest economic profit LKR 177067.66 was found when sweet orange is produced in place of soybean. A positive value of economic profit was found in all combination of sweet orange production without considering the first harvest duration of the crop.

Keywords: agricultural economics, crop, opportunity cost, Sri Lanka

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Authors: Amirhossen Zare Rahvard

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Freemium games based on the gacha mechanic have proven highly successful in recent years - games with simple graphics and simple gameplay systems but with a highly profitable market. Attempts at developing gacha games have even been made in Iran. Since gacha games are both profitable and easy to develop, they seem to be a suitable starting point for establishing a video game market in underdeveloped countries. This article aims to review the gacha games' approach to gaining revenue by studying the case of Arknights game in order to draw an outline of how simple games have led to great markets.

Keywords: gacha games, game’s economy, underdeveloped countries and games, arkngihts

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Authors: Duy Nguyen Do, Bart Julien Dewancker

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Many Soviet-style collective housing complexes (also known as KTT) were built since the 1960s in Hanoi to support the post-war population growth. Those low-rise buildings have created well-knitted, robust communities, so much to the point that in most complexes, all families in one housing block would know each other, occasionally interact and provide supports in need. To understand how the community of collective housing complexes have developed and maintained in order to adapt their advantages into modern housing designs, the study is executed on the site of Nguyen Cong Tru KTT. This is one of the oldest KTT in Hanoi, completed in 1954. The complex also has an unique characteristic that is closely related to its community: the symbiotic relationship with Hom – a flea market that has been co-developing with Nguyen Cong Tru KTT since its beginning. The research consists of three phases: the first phase is a sociological investigation with Nguyen Cong Tru KTT’s current residents and a site survey on the complex’s economic and architectural characteristics. In the second phase, the collected data is analyzed to find out people’s opinions with the KTT’s concerning their satisfaction with the current housing status, floor plan organization, community, the relationship between the KTT’s dedicated public spaces with the flea market and their usage. Simultaneously, the master plan and gathered information regarding current architectural characteristics of the complex are also inspected. On the third phase, the analyses’ results will provide information regarding the issues, positive trends and significant historical features of the complex’s architecture in order to generate suitable proposals for the redesigning project of Nguyen Cong Tru KTT, a design focused on vitalizing modern apartments’ communities.

Keywords: collective house community, collective house public space, community-focused, redesigning Nguyen Cong Tru KTT, sociological investigation

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Authors: Libena Cernohorska, Jan Cernohorsky

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This article aims to evaluate the impact of loans provided within the Czech banking sector on the growth of the Czech economy. The article is based on research of current scientific findings in respect to bank loans and economic development. The paper is based on data taken from the Czech Statistical Office on the development of the gross domestic product and data from the Czech National Bank on the development of loans from the period 2004-2015. Links between selected variables are tested using Granger causality tests. The results calculated confirm the hypothesis of the impact of the loans on economic growth, with a six-month delay. The results thus correspond to the standard economic findings and results of most previous studies.

Keywords: bank, business cycle, economic growth, loans

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Authors: G. A. Amin, A. D. Al-Talhi

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The bacterium B. subtilis produced surfactin in conventional batch culture as a growth associated product and a growth rate (0.4 h-1). A fed-batch process was developed and the fermentative substrate and other nutrients were fed on hourly basis and according to the growth rate of the bacterium. Conversion of different quantities of Maldex-15 into surfactin was investigated in five different fermentation runs. In all runs, most of Maldex-15 was consumed and converted into surfactin and cell biomass with appreciable efficiencies. The best results were obtained with fermentation run supplied with 200 g Maldex-15. Up to 35.4 g.l-1 of surfactin and cell biomass of 30.2 g.l-1 were achieved in 12 hrs. Also, markedly substrate yield of 0.269 g/g and volumetric reactor productivity of 2.61 g.1-1.h-1 were obtained confirming the establishment of a cost effective commercial surfactin production.

Keywords: Bacillus subtilis, biosurfactant, exponentially fed-batch fermentation, surfactin

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Authors: Ghunchq Khan

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The increase in greenhouse gas (GHGs) emissions is a main environmental problem. Diverse human activities and inappropriate economic growth have stimulated a trade-off between economic growth and environmental deterioration all over the world. The impact of economic growth on the environment has received attention as global warming and environmental problems have become more serious. The focus of this study is on carbon footprints (production and consumption) and analyses the impact of GDP per capita on carbon footprints. A balanced panel of 99 countries from 2000 to 2016 is estimated by employing autoregressive distributed lags (ARDL) model – mean group (MG) and pooled mean group (PMG) estimators. The empirical results indicate that GDP per capita has a significant and positive impact in the short run but a negative effect in the long run on the carbon footprint of production in high-income countries by controlling trade openness, industry share, biological capacity, and population density. At the same time, GDP per capita has a significant and positive impact in both the short and long run on the carbon footprint of the production of non-high-income countries. The results also indicate that GDP per capita negatively impacts the carbon footprint of consumption for high-income countries; on the other hand, the carbon footprint of consumption increases as GDP per capita grows in non-high-income countries.

Keywords: ARDL, carbon footprint, economic growth, industry share, trade openness

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Authors: Syed Makhdoom Hussain, Muhammad Afzal, Farhat Jabeen, Arshad Javid, Tasneem Hameed

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A feeding trial was conducted with Cirrhinus mrigala fingerlings to study the effects of microbial phytase with graded levels (0, 500, 1000, 1500, and 2000 FTUkg-1) by sunflower meal based diet on growth performance and nutrient digestibility. The chromic oxide was added as an indigestible marker in the diets. Three replicate groups of 15 fish (Average wt 5.98 g fish-1) were fed once a day and feces were collected twice daily. The results of present study showed improved growth and feed performance of Cirrhinus mrigala fingerlings in response to phytase supplementation. Maximum growth performance was obtained by the fish fed on test diet-III having 1000 FTU kg-1 phytase level. Similarly, nutrient digestibility was also significantly increased (p<0.05) by phytase supplementation. Digestibility coefficients for sunflower meal based diet increased 15.76%, 17.70%, and 12.70% for crude protein, crude fat and apparent gross energy as compared to the reference diet, respectively at 1000 FTU kg-1 level. Again, maximum response of nutrient digestibility was recorded at the phytase level of 1000 FTU kg-1 diet. It was concluded that the phytase supplementation to sunflower meal based diet at 1000 FTU kg-1 level is optimum to release adequate chelated nutrients for maximum growth performance of C. mrigala fingerlings. Our results also suggested that phytase supplementation to sunflower meal based diet can help in the development of sustainable aquaculture by reducing the feed cost and nutrient discharge through feces in the aquatic ecosystem.

Keywords: sunflower meal, Cirrhinus mrigala, growth, nutrient digestibility, phytase

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Authors: Mohamad Ali Yazdani Sadati, Mir Hamed Sayed Hassani, Mahmoud Shakorian, Rezvanollah Kazemi, Bahareh Younes Haghighi

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The efficiency of two rearing environments in culture and effect on growth performance of beluga (Huso huso) were investigated. In accordance two group of three years Huso huso ((Average weight of 9.93±0.305 and 10±0.5Kg) density (0.5 and 25 kg/m2)) with 3 replicate were stocked in two culture environment and reared with formulated diet including protein 43% and energy 22 MJ/ kg for 12 month from 2014.6.19 to 2015.9.10 A.D. In the end of rearing period, indices of Final weight, final biomass, daily growth and body percent weight fish reared in cement tank (20.1±0.6, 2016.66±5.77,0.112±0.00239 and 102.35±1.1kg) were significantly higher than fish reared in pond (17.4±0.4, 1746.66±7.2, 0.082±0.118 and 74.15±4.71 kg), respectively P < 0.05). Food efficiency ratio between two group was not significantly different (P > 0.05). The result of this study indicated that except of primary cost of building concrete tank, Huso huso prebroodstocking in cement tank is better than pond for result of increasing growth rate in culture rearing and more effective management.

Keywords: cement tank, earthen pond, Huso huso, prebroodstocking

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Authors: Shilpi Tripathi

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India has adopted the policy of economic reforms (Globalization, Liberalization, and Privatization) in 1991 which has reduced the trade barriers and investment restrictions and further increased the economy’s international trade, foreign direct investment (FDI) inflows and Gross Domestic Product (GDP) growth. The paper empirically studies the relationship between India’s international trades, GDP, FDI and environment during 1978-2012. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO2). The second part focuses on the literature regarding the relationship among all the variables. The last part of paper, we examine the results of empirical analysis like co integration and Granger causality between foreign trade, FDI inflows, GDP and CO2 since 1978. The findings of the paper revealed that there is only one uni- directional causality exists between GDP and trade. The direction of causality reveals that international trade is one of the major contributors to the economic growth (GDP). While, there is no causality found between GDP and FDI, FDI, and CO2 and International trade and CO2. The paper concludes with the policy recommendations that will ensure environmental friendly trade, investment and growth in India for future.

Keywords: international trade, foreign direct investment, GDP, CO2, co-integration, granger causality test

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Authors: Fhatuwani Herman Nndwambi, P. W. Mashela

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Salinity is a major constraint limiting crop productivity. It has been predicted that by the year 2050, more than 50% of the arable land will be affected by salinity. Two similar salinity experiments were conducted in two seasons under greenhouse condition. Six levels of salinity plus control (viz; control, 2, 4, 8, 16, 32 and 64 % NaCl and CaCl2 at 3:1 ratio) were applied in a form of irrigation water in a single factor experiment arranged in a complete block design with 20 replications. Plant growth and yield were negatively affected by salinity treatments especially at the high levels of salinity. For example, our results suggest that the 32 and 64% of NaCl and CaCl2 treatment were too much for the plant to withstand as determined by reduced dry shoot mass, stem diameter and plant height in both seasons. On the other hand, stomatal conductance and chlorophyll content increased with an increased level of salinity.

Keywords: growth, salinity, season, yield

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Authors: Imen Hamed, Burcu Ak, Oya Işık, Leyla Uslu, Kubilay Kazım Vursavuş

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In this study, 3 species of Dunaliella (Dunaliella sp. Salt Lake isoalte (Tuz Gölü), Dunaliella salina CCAP19/18, and Dunaliella bardawil LB 2538) and their optical density, dry matter, chlorophyll a, total carotenoids, and β-carotene production were investigated in a batch system. The aim of this research was to compare carotenoids, and β-carotene production were investigated in a batch those 3 species. Therefore 2 stress factors were used: 2 different temperatures (20°C and 30°C) and 2 different salinities (30‰, and 60‰) were tested over a 17-day study. The highest growth and chlorophyll a was reported for Dunaliella sp. under 20°C/30‰ and 20°C/60‰ conditions respectively followed by D. bardawil and D. salina. Significant differences were noticed (p<0.05) for the other 3 species. The growth decreased as temperature and salinity increased since the lowest growth was noticed for the 30°C/60‰ group. The chlorophyll a content decreased also as temperature increased however when the NaCl concentration increased an augmentation of the content was noticed . In the 17^th day of experiment the highest carotenoids concentration was reported for D. bardawil 20°C/30‰ (65,639±0,400 μg.mL⁻¹) and the most important β carotene concentration was for D. salina 20°C/60‰ (8,98E-07±0,013 mol/L).

Keywords: Dunaliella sp., Dunaliella salina, Dunaliella bardawil, growth, pigments, stress factors

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Authors: Mohamed Hamed Mohamed Ahmed Alameer

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Population studies, essentially deals with the size, growth, and distribution of the population in a given area. Size, growth, and distribution are determined by three major factors, which are fertility mortality, and migration. Of these factors, fertility- as a number of live births a woman has actually had- is a potent socio-demographic force in vital process of population growth. So, fertility is a major component of population growth. It is one of the main determinants of population growth and has crucial role in population dynamic, because it measures the rate at which a population increased. In fact the levels of fertility are vary widely among nations, countries, geographic regions, ethnic, socio- economic groups, and religious groups. Fertility differential by religion have been empirically documented in a large numbers of countries. For instance, many researchers in developing and developed countries investigated the differential of fertility among Muslims and Non- Muslims. Most of them have found that fertility of Muslims is higher than fertility of non Muslims. And Muslims have a tendency for large families comparing to non- Muslims population. On the basis of this; Islam by it itself could play an important role in shaping attitudes and values of fertility, such as: sustainability of human kind, developmental reasons, religious Motivations, socioeconomic Motivations, and Psychological Motivation. Therefore, this paper investigates socio-economic values of fertility in Islam and compare it to Malthusian and neo Malthusian functionalists and conflict perspectives.

Keywords: islam, fertility, socioeconomic values, social sciences

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Authors: Masoud Alipanah, Sekineh Akbari, Gholamreza Dashab

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Myostatin genes or factor 8 affecting on growth and making differentiation works (GDF8) as a moderator in the development of skeletal muscle inhibitor. If mutations occurs in the coding region of myostatin, alter its inhibitory role and the muscle growth is increased. In this study, blood samples were collected randomly from 60 Kurdish sheep in northern Khorasan and DNA extraction was performed using a modified salt. A fragment 337 bp from exon 3 myostatin gene and-specific primers by using a polymerase chain reaction (PCR) were amplified. In order to detect different forms of an allele at this locus HaeΙΙΙ restriction enzymes and PCR-RFLP analysis were used. Band patterns clarification was performed using agarose gel electrophoresis. The frequency of genotypes mm, Mm, and MM, were respectively detected, 0, 0.15 and 0.85. The allele frequency for alleles m and M, were respectively, 0.07 and 0.93. The statistical analyses indicated that m allele was significantly associated with body weight. The results of this study suggest that the Myostatin gene possibly is a candidate gene that affects growth traits in Kurdish sheep.

Keywords: GDF8 gene, Kurdi Sheep of Northern Khorasan, polymorphism, weight traits

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Authors: Mussa Hussaini, Supasith Chonglerttham

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Stocks are usually classified according to their characteristics which are unique enough such that the performance of each category can be differentiated from another. The reasons behind such classifications in the financial market are sometimes financial innovation or it can also be because of finding a premium in a group of stocks with similar features. One of the major classifications in stocks market is called momentum strategy. Based on this strategy stocks are classified according to their past performances into past winners and past losers. Momentum in a stock market refers to the idea that stocks will keep moving in the same direction. In other word, stocks with rising prices (past winners stocks) will continue to rise and those stocks with falling prices (past losers stocks) will continue to fall. The performance of this classification has been well documented in numerous studies in different countries. These studies suggest that past winners tend to outperform past losers in the future. However, academic research in this direction has been limited in countries such as Thailand and to the best of our knowledge, there has been no such study in Thailand after the financial crisis of 1997. The significance of this study stems from the fact that Thailand is an open market and has been encouraging foreign investments as one of the means to enhance employment, promote economic development, and technology transfer and the main equity market in Thailand, the Stock Exchange of Thailand is a crucial channel for Foreign Investment inflow into the country. The equity market size in Thailand increased from $1.72 billion in 1984 to $133.66 billion in 1993, an increase of over 77 times within a decade. The main contribution of this paper is evidence for size category in the context of the equity market in Thailand. Almost all previous studies have focused solely on large stocks or indices. This paper extends the scope beyond large stocks and indices by including small and tiny stocks as well. Further, since there is a distinct absence of detailed academic research on momentum strategy in the Stock Exchange of Thailand after the crisis, this paper also contributes to the extension of existing literature of the study. This research is also of significance for those researchers who would like to compare the performance of this strategy in different countries and markets. In the Stock Exchange of Thailand, we examined the performance of momentum strategy from 2010 to 2014. Returns on portfolios are calculated on monthly basis. Our results on momentum strategy confirm that there is positive momentum profit in large size stocks whereas there is negative momentum profit in small size stocks during the period of 2010 to 2014. Furthermore, the equal weighted average of momentum profit of both small and large size category do not provide any indication of overall momentum profit.

Keywords: momentum strategy, past loser, past winner, stock exchange of Thailand

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Authors: Omar Alhamd, Peter A. Thomas, Trevor J. Greenhough, Annette K. Shrive

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The Pseudomonas syringae species complex includes many plant pathogenic strains with highly specific interactions with varied host species and cultivars. The rapid spread of these bacteria over the last ten years has become a cause for concern. Nanoparticles have previously shown promise in microbiological action. We have therefore investigated in vitro and in vivo the effects of different types and sizes of nanoparticles in order to provide quantitative information about their effect on the bacteria. The effects of several different nanoparticles against several bacteria strains were investigated. The effect of NP on bacterial growth was studied by measuring the optical density, biochemical and nutritional tests, and transmission electron microscopy (TEM) to determine the shape and size of NP. Our results indicate that their effects varied, with either a negative or a positive impact on both bacterial and plant growth. Additionally, the methods of exposure to nanoparticles have a crucial role in accumulation, translocation, growth response and bacterial growth. The results of our studies on the behaviour and effects of nanoparticles in model plants showed. Cerium oxide (CeO₂) and silver (Ag) NP showed significant antibacterial activity against several pathogenic bacteria. It was found that titanium nanoparticles (TiO₂) can have either a negative or a positive impact, according to concentration and size. It is also thought that environmental conditions can have a major influence on bacterial growth. Studies were therefore also carried out under some environmental stress conditions to test bacterial survival and to assess bacterial virulence. All results will be presented including information about the effects of different nanoparticles on Pseudomonas syringae bacteria.

Keywords: plant microbiome, nanoparticles, 16S rRNA gene sequencing, bacterial survival

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Authors: Chin-Hsiang Chu

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This article review the literature in the field among the marketing and aesthetics, the current market and customer-oriented product sales, and gradually from the practical functionality, transformed into the visual appearance of the concept note and the importance of marketing experience substance 'economic Aesthetics' trend. How to introduce the concept of aesthetic and differentiate products have become an important content of marketing management in for an organization in marketing.In previous studies,marketing aesthetic related researches are rare.Therefore, the purpose of this study to explore the connection between aesthetics and marketing of the market economy, and aggregated content through literature review, trying to find related research implications for the management of marketing aesthetics, market-oriented and customer value and development of the product. In this study, the problem statement and background, the development of the theory of evolution, as well as methods and results of discovery stage, literature review was conducted to explore. The results found: (1) Study of Aesthetics will help deepen the shopping environment and service environment commonly understood. (2) the perceived value of products imported aesthetic, consumer willingness to buy, and even premium products will be more attractive. (3) marketing personnel for general marketing management with a high degree of aesthetic identity. (4) management in marketing aesthetics connotation, aesthetic characteristics of five elements is greatly valued by the real-time, complex, specificity, attract sexual and richness. (5) allows consumers to experience through the process due to stimulate the senses, the mind and thinking with the corporate brand or have a deeper link. Results of this study can be used as business in a competitive market, new product development and design of the guide.

Keywords: marketing aesthetics, aesthetics economic, aesthetic, experiential marketing

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Authors: Peng Yew Wong

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House prices in the Australian capital cities were at record levels subsequent to Global Financial Crisis (GFC) 2008 and many believed that foreign investors, especially the Chinese investors, were the main reason for the Australian capital cities’ house prices escalation. This research conducted an Australian cross border semi-structured interviews in Shanghai, China to uncover historical evidence and emerging trend supporting the existence of a significant relationship between overseas investors and residential housing markets performance in Australia subsequent to the GFC 2008. Some unique investment strategies of private investors from China which emphasised on non-capitalist factors such as early education were identified, alongside with some insights on the significant China government policies that have incentivised the cross border investments from China. It is believed that this understanding will assist policy makers to effectively manage the overheated Australian residential property market without compromising the steady flow of FREI.

Keywords: Australian housing market, residential property, foreign real estate investment, education, China investor

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Authors: Mohammad Koushafar, Amir Hossein Khoshgoftarmanesh

Abstract:

Due to water shortage, application of saline water for irrigation is an urgent requirement in agriculture. Thus, this study, the effect of calcium and potassium application as additive in saline root media for reduce salinity adverse effects was investigated on tomato growth in a hydroponic system with unequal distribution of salts in the root media, which was divided into two equal parts containing full Johnson nutrient solution and 40 mM NaCl solution, alone or in combination with KCl (6 mM), CaCl2 (4 mM), K+Ca (3+2 mM) or half-strength Johnson nutrient solution. The root splits were exchanged every 7 days. Results showed that addition of calcium, calcium-potassium and nutrition elements equivalent to half the concentration of Johnson formula to the saline-half of culture media minimized the reduction in plant growth caused by NaCl, although the addition of potassium to culture media was not effective. The greatest concentration of sodium was observed at the shoot of treatments which had the smallest growth. According to the results of this study, in the case of dynamic and non-uniform distribution of salts in the root media, by the addition of additive to the saline solution, it would be possible to use of saline water with no significant growth reduction.

Keywords: calcium, hydroponic, local salinity, potassium, salin water, tomato

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Authors: Mohammad Ayub Khan

Abstract:

With increased market segmentation and competition in the hotel industry, a hotel’s ability to constantly renovate its services and amenities is a business practice that can be termed as an attitude that is not only flexible but also malleable as a result of which a hotel/property is continually poised to face the ever-changing nature of the hospitality industry and upgrades that keep the hotel or brand in competition with current competitors. One such challenge is to competitively and creatively market value-added amenities, upgraded technology, and marketing all of these as a package to not only stay relevant in the market but also to retain and enhance revenues to ensure the future financial health of a hotel. This delicate balance between staying relevant and financially viable is a crucial challenge that this poster will explore, analyze, and present by specifically looking at the ability of a hotel/brand to effectively translate its theoretical need and practice of constantly staying updated, including strategically renovating, upgrading, modifying its services, into a tangible business practice. In what ways do hotels face this challenge? In what areas of the hotel is this business concept/action most effective and profitable are just some questions that this paper will attempt to answer.

Keywords: hospitality theory, renovations, value-added amenities, strategic planning

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Authors: Yassine Messaoud, Gordon Nigh, Faouzi Messaoud, Han Chen

Abstract:

The effect of climate change on tree growth in boreal and temperate forests has received increased interest in the context of global warming. However, most studies were conducted in small areas and with a limited number of tree species. Here, we examined the height growth responses of seventeen tree species to climate change in Western North America. 37009 stands from forest inventory databases in Canada and USA with varying establishment date were selected. Dominant and co-dominant trees from each stand were sampled to determine top tree height at 50 years breast height age. Height was related to historical mean annual and summer temperatures, annual and summer Palmer Drought Severity Index, tree establishment date, slope, aspect, soil fertility as determined by the rate of carbon organic matter decomposition (carbon/nitrogen), geographic locations (latitude, longitude, and elevation), species range (coastal, interior, and both ranges), shade tolerance and leaf form (needle leaves, deciduous needle leaves, and broadleaves). Climate change had mostly a positive effect on tree height growth. The results explained 62.4% of the height growth variance. Since 1880, height growth increase was greater for coastal, high shade tolerant, and broadleaf species. Height growth increased more on steep slopes and high soil fertility soils. Greater height growth was mostly observed at the leading range and upward. Conversely, some species showed the opposite pattern probably due to the increase of drought (coastal Mediterranean area), precipitation and cloudiness (Alaska and British Columbia) and peculiarity (higher latitudes-lower elevations and vice versa) of western North America topography. This study highlights the role of the species ecological amplitude and traits, and geographic locations as the main factors determining the growth response and its magnitude to the recent global climate change.

Keywords: Height growth, global climate change, species range, species characteristics, species ecological amplitude, geographic locations, western North America

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Authors: Loes Nijskens

Abstract:

The city of The Hague is coping with several social issues: high unemployment rates, segregation and environmental pollution. The amount of social enterprises in The Hague that want to tackle these issues is increasing, but no clear image exists of the stimulants and obstacles social entrepreneurs encounter. In this qualitative study 20 starting and established social entrepreneurs, investors and stimulators of social entrepreneurship have been interviewed. The findings indicate that the majority of entrepreneurs situated in The Hague focuses on creating jobs (the so called social nurturers) and diminishing food waste. Moreover, the study found smaller groups of social connectors, (who focus on stimulating the social cohesion in the city) and social traders (who create a market for products from developing countries). For the social nurturers, working together with local government to find people with a distance to the labour market is a challenge. The entrepreneurs are missing a governance approach within the local government, wherein space is provided to develop suitable legislation and projects in cooperation with several stakeholders in order to diminish social problems. All entrepreneurs in the sample face(d) the challenge of having a clear purpose of their business in the beginning. Starting social entrepreneurs tend to be idealistic without having defined a business model. Without a defined business model it is difficult to find proper funding for their business. The more advanced enterprises cope with the challenge of measuring social impact. The larger they grow, the more they have to ‘defend’ themselves towards the local government and their customers, of mainly being social. Hence, the more experienced social nurturers still find it difficult to work together with the local government. They tend to settle their business in other municipalities, where they find more effective public-private partnerships. Al this said, the eco-system for social enterprises in The Hague is on the rise. To stimulate the amount and growth of social enterprises the cooperation between entrepreneurs and local government, the developing of social business models and measuring of impact needs more attention.

Keywords: obstacles, social enterprises, stimulants, the Hague

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Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar

Abstract:

We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.

Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments

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