Search results for: social values
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 15417

Search results for: social values

5997 Components and Public Health Impact of Population Growth in the Arab World

Authors: Asharaf Abdul Salam, Ibrahim Elsegaey, Rshood Khraif, Abdullah AlMutairi, Ali Aldosari

Abstract:

Arab World that comprises of 22 member states of Arab League undergoes rapid transition in demographic front - fertility, mortality and migration. A distinctive geographic region spread across West Asia and North East Africa unified by Arabic language shares common values and characteristics even though diverse in economic and political conditions. Demographic lag that characterizes Arab World is unique but the present trend of declining fertility combined with the existing relatively low mortality undergoes significant changes in its population size. The current research aimed at (i) assessing the growth of population, over a period of 3 decades, (ii) exploring the components and (iii) understanding the public health impact. Based on International Data Base (IDB) of US Census Bureau, for 3 time periods – 1992, 2002 and 2012; 21 countries of Arab World have been analyzed by dividing them into four geographic sectors namely Gulf Cooperation Council (GCC), West Asia, Maghreb and Nile Valley African Horn. Population of Arab World grew widely during the past both through natural growth and migration. Immigrations pronounced especially in the resource intensive GCC nations not only from East Asian and central African countries but also from resource thrifty Arab nations. Migrations within the Arab World as well as outside of the Arab World remark an interesting demographic phenomenon that requires further research. But the transformations on public health statistics – impact of demographic change – depict a new era in the Arab World.

Keywords: demographic change, public health statistics, net migration, natural growth, geographic sectors, fertility and mortality, life expectancy

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5996 Effect of Whole Body Vibration on Posture Stability and Planter Pressure in Patients with Diabetic Neuropathy

Authors: Azza M. Atya, Mahmoud M. Nasser

Abstract:

Background/ /Significance: Peripheral neuropathy is one of the long term serious complications of diabetes, which may attribute to postural instability and alteration of planter pressure. Whole body vibration (WBV) is a somatosensory stimulation type of exercise that has been emerged in sport training and rehabilitation of neuromuscular disorders. Purpose: The aim of this study was to investigate the effect of whole Body Vibration on antroposterior (AP), mediolateral (ML) posture stability and planter foot pressure in patients with diabetic neuropathy. Subjects: forty diabetic patients with moderate peripheral neuropathy aged from 35 to 50 years, were randomly assigned to WBV group (n=20) and control group (n=20). Methods and Materials: the WBV intervention consisted of three session weekly for 8 weeks (frequency 20 Hz, peak-to peak displacement 4mm, acceleration 3.5 g). Biodex balance system was used for postural stability assessment and the foot scan plate was used to measure the mean peak pressure under the first and lesser metatarsals. The main Outcome measures were antroposterior stability index (APSI), mediolateral stability index (MLSI), overall stability index (OSI),and mean peak foot pressure. Analyses: Statistical analysis was performed using the SPSS software package (SPSS for Windows Release 18.0). T-test was used to compare between the pre- and post-treatment values between and within groups. Results: For the 40 study participants (18male and 22 females) there were no between-group differences at baseline. At the end of 8 weeks, Subjects in WBV group experienced significant increase in postural stability with a reduction of mean peak of planter foot pressure (P<0.05) compared with the control group. Conclusion: The result suggests that WBV is an effective therapeutic modality for increasing postural stability and reducing planter pressure in patients with diabetic neuropathy.

Keywords: whole body vibration, diabetic neuropathy, posture stability, foot pressure

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5995 Semantic Analysis of the Change in Awareness of Korean College Admission Policy

Authors: Sujin Hwang, Hyerang Park, Hyunchul Kim

Abstract:

The purpose of this study is to find the effectiveness of the admission simplification policy. The number of online news articles about ‘high school record’ was collected and semantically analyzed to identify and analyze the social awareness during 2014 to 2015. The main results of the study are as follows: First, there was a difference in expectations that the burden of the examinees would decrease as announced by KCUE. Thus, there was still a strain on the university entrance exam after the enforcement of the policy. Second, private tutoring is expanding in different forms, rather than reducing the policy. It is different from the prediction that examinees can prepare for university admissions without the private tutoring. Thus, the college admission rules currently enforced needs to be improved. The reasonable college admission system changes are discussed.

Keywords: education policy, private tutoring, shadow education, education admission policy

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5994 Brand Resonance Strategy For Long-term Market Survival: Does The Brand Resonance Matter For Smes? An Investigation In Smes Digital Branding (Facebook, Twitter, Instagram And Blog) Activities And Strong Brand Development

Authors: Noor Hasmini Abd Ghani

Abstract:

Brand resonance is among of new focused strategy that getting more attention in nowadays by larger companies for their long-term market survival. The brand resonance emphasizing of two main characteristics that are intensity and activity able to generate psychology bond and enduring relationship between a brand and consumer. This strong attachment relationship has represented brand resonance with the concept of consumer brand relationship (CBR) that exhibit competitive advantage for long-term market survival. The main consideration toward this brand resonance approach is not only in the context of larger companies but also can be adapted in Small and Medium Enterprises (SMEs) as well. The SMEs have been recognized as vital pillar to the world economy in both developed and emergence countries are undeniable due to their economic growth contributions, such as opportunity for employment, wealth creation, and poverty reduction. In particular, the facts that SMEs in Malaysia are pivotal to the well-being of the Malaysian economy and society are clearly justified, where the SMEs competent in provided jobs to 66% of the workforce and contributed 40% to the GDP. As regards to it several sectors, the SMEs service category that covers the Food & Beverage (F&B) sector is one of the high-potential industries in Malaysia. For that reasons, SMEs strong brand or brand equity is vital to be developed for their long-term market survival. However, there’s still less appropriate strategies in develop their brand equity. The difficulties have never been so evident until Covid-19 swept across the globe from 2020. Since the pandemic began, more than 150,000 SMEs in Malaysia have shut down, leaving more than 1.2 million people jobless. Otherwise, as the SMEs are the pillar of any economy for the countries in the world, and with negative effect of COVID-19 toward their economic growth, thus, their protection has become important more than ever. Therefore, focusing on strategy that able to develop SMEs strong brand is compulsory. Hence, this is where the strategy of brand resonance is introduced in this study. Mainly, this study aims to investigate the impact of CBR as a predictor and mediator in the context of social media marketing (SMM) activities toward SMEs e-brand equity (or strong brand) building. The study employed the quantitative research design concerning on electronic survey method with the valid response rate of 300 respondents. Interestingly, the result revealed the importance role of CBR either as predictor or mediator in the context of SMEs SMM as well as brand equity development. Further, the study provided several theoretical and practical implications that can benefit the SMEs in enhancing their strategic marketing decision.

Keywords: SME brand equity, SME social media marketing, SME consumer brand relationship, SME brand resonance

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5993 Gender Estimation by Means of Quantitative Measurements of Foramen Magnum: An Analysis of CT Head Images

Authors: Thilini Hathurusinghe, Uthpalie Siriwardhana, W. M. Ediri Arachchi, Ranga Thudugala, Indeewari Herath, Gayani Senanayake

Abstract:

The foramen magnum is more prone to protect than other skeletal remains during high impact and severe disruptive injuries. Therefore, it is worthwhile to explore whether these measurements can be used to determine the human gender which is vital in forensic and anthropological studies. The idea was to find out the ability to use quantitative measurements of foramen magnum as an anatomical indicator for human gender estimation and to evaluate the gender-dependent variations of foramen magnum using quantitative measurements. Randomly selected 113 subjects who underwent CT head scans at Sri Jayawardhanapura General Hospital of Sri Lanka within a period of six months, were included in the study. The sample contained 58 males (48.76 ± 14.7 years old) and 55 females (47.04 ±15.9 years old). Maximum length of the foramen magnum (LFM), maximum width of the foramen magnum (WFM), minimum distance between occipital condyles (MnD) and maximum interior distance between occipital condyles (MxID) were measured. Further, AreaT and AreaR were also calculated. The gender was estimated using binomial logistic regression. The mean values of all explanatory variables (LFM, WFM, MnD, MxID, AreaT, and AreaR) were greater among male than female. All explanatory variables except MnD (p=0.669) were statistically significant (p < 0.05). Significant bivariate correlations were demonstrated by AreaT and AreaR with the explanatory variables. The results evidenced that WFM and MxID were the best measurements in predicting gender according to binomial logistic regression. The estimated model was: log (p/1-p) =10.391-0.136×MxID-0.231×WFM, where p is the probability of being a female. The classification accuracy given by the above model was 65.5%. The quantitative measurements of foramen magnum can be used as a reliable anatomical marker for human gender estimation in the Sri Lankan context.

Keywords: foramen magnum, forensic and anthropological studies, gender estimation, logistic regression

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5992 Sustainable Use of Agricultural Waste to Enhance Food Security and Conserve the Environment

Authors: M. M. Tawfik, Ezzat M. Abd El Lateef, B. B. Mekki, Amany A. Bahr, Magda H. Mohamed, Gehan S. Bakhoom

Abstract:

The rapid increase in the world’s population coupled by decrease the arable land per capita has resulted into an increased demand for food which has in turn led to the production of large amounts of agricultural wastes, both at the farmer, municipality and city levels. Agricultural wastes can be a valuable resource for improving food security. Unfortunately, agricultural wastes are likely to cause pollution to the environment or even harm to human health. This calls for increased public awareness on the benefits and potential hazards of agricultural wastes, especially in developing countries. Agricultural wastes (residual stalks, straw, leaves, roots, husks, shells etcetera) and animal waste (manures) are widely available, renewable and virtually free, hence they can be an important resource. They can be converted into heat, steam, charcoal, methanol, ethanol, bio diesel as well as raw materials (animal feed, composting, energy and biogas construction etcetera). agricultural wastes are likely to cause pollution to the environment or even harm to human health, if it is not used in a sustainable manner. Organic wastes could be considered an important source of biofertilizer for enhancing food security in the small holder farming communities that would not afford use of expensive inorganic fertilizers. Moreover, these organic wastes contain high levels of nitrogen, phosphorus, potassium, and organic matter important for improving nutrient status of soils in urban agriculture. Organic compost leading to improved crop yields and its nutritional values as compared with inorganic fertilization. This paper briefly reviews how agricultural wastes can be used to enhance food security and conserve the environment.

Keywords: agricultural waste, organic compost, environment, valuable resources

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5991 Effect of Different Level of Pomegranate Molasses on Performance, Egg Quality Trait, Serological and Hematological Parameters in Older Laying Hens

Authors: Ismail Bayram, Aamir Iqbal, E. Eren Gultepe, Cangir Uyarlar, Umit Ozcınar, I. Sadi Cetingul

Abstract:

The current study was planned with the objective to explore the potential of pomegranate molasses (PM) on performance, egg quality and blood parameters in older laying hens. A total of 240 Babcock white laying hens (52 weeks old) were divided into 5 groups (n=48) with 8 subgroups having 6 hens in each. Pomegranate molasses was added in the drinking water to experimental groups with 0 %, 0.1%, 0.25 %, 0.5%, and 1%, respectively during one month. In our results, egg weight values were remained the same in all pomegranate molasses supplemented groups except 1% group over control. However, feed consumption, egg production, feed conversion ratio (FCR), egg mass, egg yolk cholesterol, body weights, and water consumption remained unaffected (P > 0.05). During mid-study (15 Days) analyses, egg quality parameters such as Haugh unit, eggshell thickness, albumin index, yolk index, and egg yolk color were remained non-significant (P > 0.05) while after final (30 Days) egg analyses, only egg yolk color had positively (P < 0.05) increased in 0.5% group. Moreover, Haugh unit, eggshell thickness, and albumin index were not significantly (P > 0.05) affected by the supplementation of pomegranate molasses. Regarding serological parameters, pomegranate molasses did not show any positive effect on cholesterol, total protein, LDL, HDL, GGT, AST, ALT, and glucose level. Similarly, pomegranate molasses also showed non-significant (P > 0.05) results on different blood parameters such as HCT, RBC, MCV, MCH, MCHC, PLT, RDWC, MPV except hemoglobin level. Only hemoglobin level was increased in all experimental groups over control showing that pomegranate molasses can be used as an enhancer in animals with low hemoglobin level.

Keywords: pomegranate molasses, laying hen, egg yield, blood parameters

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5990 Becoming a Warrior: Conspiracy, Dramaturgy, and Follower Charisma on the Far Right

Authors: Anthony Albanese

Abstract:

While much of the literature concerning Max Weber’s concept of charisma has addressed the importance of the follower’s recognition of and devotion to the charismatic leader, very little has been said about the processes that lead to the development of follower charisma. This article examines this largely overlooked aspect of the concept, as doing so (1) exacts the dynamics behind charisma’s transferability by moving beyond follower-centric models that focus on the recognition of the leader and toward one that emphasizes the follower’s generation and exhibition of charisma, (2) bridges a crucial gap between the rather wanting “losers of modernization” thesis and the social actor’s proclivity to produce stories and self-cast in said stories, (3) presents authoritarian dispositions as a reaction to the weakening effects everydayness have on charisma, and (4) complicates Weber’s formulation by reassessing the role of continually demonstrable mastery. To illustrate these dynamics, one should turn to the January 6th Capitol attack in the United States.

Keywords: max weber, extremism, right-wing populism, charisma

Procedia PDF Downloads 79
5989 Using Complete Soil Particle Size Distributions for More Precise Predictions of Soil Physical and Hydraulic Properties

Authors: Habib Khodaverdiloo, Fatemeh Afrasiabi, Farrokh Asadzadeh, Martinus Th. Van Genuchten

Abstract:

The soil particle-size distribution (PSD) is known to affect a broad range of soil physical, mechanical and hydraulic properties. Complete descriptions of a PSD curve should provide more information about these properties as opposed to having only information about soil textural class or the soil sand, silt and clay (SSC) fractions. We compared the accuracy of 19 different models of the cumulative PSD in terms of fitting observed data from a large number of Iranian soils. Parameters of the six most promising models were correlated with measured values of the field saturated hydraulic conductivity (Kfs), the mean weight diameter of soil aggregates (MWD), bulk density (ρb), and porosity (∅). These same soil properties were correlated also with conventional PSD parameters (SSC fractions), selected geometric PSD parameters (notably the mean diameter dg and its standard deviation σg), and several other PSD parameters (D50 and D60). The objective was to find the best predictions of several soil physical quality indices and the soil hydraulic properties. Neither SSC nor dg, σg, D50 and D60 were found to have a significant correlation with both Kfs or logKfs, However, the parameters of several cumulative PSD models showed statistically significant correlation with Kfs and/or logKfs (|r| = 0.42 to 0.65; p ≤ 0.05). The correlation between MWD and the model parameters was generally also higher than either with SSC fraction and dg, or with D50 and D60. Porosity (∅) and the bulk density (ρb) also showed significant correlation with several PSD model parameters, with ρb additionally correlating significantly with various geometric (dg), mechanical (D50 and D60), and agronomic (clay and sand) representations of the PSD. The fitted parameters of selected PSD models furthermore showed statistically significant correlations with Kfs,, MWD and soil porosity, which may be viewed as soil quality indices. Results of this study are promising for developing more accurate pedotransfer functions.

Keywords: particle size distribution, soil texture, hydraulic conductivity, pedotransfer functions

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5988 Effect of Substrate Temperature on Some Physical Properties of Doubly doped Tin Oxide Thin Films

Authors: Ahmet Battal, Demet Tatar, Bahattin Düzgün

Abstract:

Various transparent conducting oxides (TCOs) are mostly used much applications due to many properties such as cheap, high transmittance/electrical conductivity etc. One of the clearest among TCOs, indium tin oxide (ITO), is the most widely used in many areas. However, as ITO is expensive and very low regarding reserve, other materials with suitable properties (especially SnO2 thin films) are be using instead of it. In this report, tin oxide thin films doubly doped with antimony and fluorine (AFTO) were deposited by spray at different substrate temperatures on glass substrate. It was investigated their structural, optical, electrical and luminescence properties. The substrate temperature was varied from 320 to 480 ˚C at the interval of 40 (±5) ºC. X-ray results were shown that the films are polycrystalline with tetragonal structure and oriented preferentially along (101), (200) and (210) directions. It was observed that the preferential orientations of crystal growth are not dependent on substrate temperature, but the intensity of preferential orientation was increased with increasing substrate temperature until 400 ºC. After this substrate temperature, they decreased. So, substrate temperature impact structure of these thin films. It was known from SEM analysis, the thin films have rough and homogenous and the surface of the films was affected by the substrate temperature i.e. grain size are increasing with increasing substrate temperature until 400 ºC. Also, SEM and AFM studies revealed the surface of AFTO thin films to be made of nanocrystalline particles. The average transmittance of the films in the visible range is 70-85%. Eg values of the films were investigated using the absorption spectra and found to be in the range 3,20-3,93 eV. The electrical resistivity decreases with increasing substrate temperature, then the electrical resistivity increases. PL spectra were found as a function of substrate temperature. With increasing substrate temperature, emission spectra shift a little bit to a UV region. Finally, tin oxide thin films were successfully prepared by this method and a spectroscopic characterization of the obtained films was performed. It was found that the films have very good physical properties. It was concluded that substrate temperature impacts thin film structure.

Keywords: thin films, spray pyrolysis, SnO2, doubly doped

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5987 Separation of Powers and Judicial Review vis-a-vis Judicial Overreach in South Africa: A Critical Analysis

Authors: Linda Muswaka

Abstract:

The Constitution of the Republic of South Africa, 1996 ranks the Constitution as the Supreme law of the Republic. Law or conduct, inconsistent with the provisions of the Constitution is invalid to the extent of the inconsistency. The Constitution binds all persons and legislative, executive and judicial organs of the State at all levels of government. The Constitution embodies a Bill of Rights and expressly allows for judicial review. The introduction of a chapter of rights requires the judiciary to examine the decisions of the legislature and the executive. In a situation where these conflicts with the Bill of Rights, the judiciary have the constitutional power to overrule such decisions. In exercising its adjudicatory and interpretative powers, the judiciary sometimes arrives at unpopular decisions and accusations of judicial overreach are made. A problem, therefore, emerges on the issue of the separation of powers and judicial review. This paper proposes to, through the South African perspective, investigate the application of the doctrine of separation of powers and judicial review. In this regard, the qualitative method of research will be employed. The reason is that it is best suited to this type of study which entails a critical analysis of legal issues. The following findings are made: (i) a complete separation of powers is not possible. This is because some overlapping of the functions of the three branches of state are unavoidable; (ii) the powers vested in the judiciary does not make it more powerful than the executive and the legislature; (iii) interference by the judiciary in matters concerning other branches is not automatically, judicial overreach; and (iv) if both the executive and legislative organs of government adhere to their constitutional obligations there would be a decrease in the need for judicial interference through court adjudication. The researcher concludes by submitting that the judiciary should not derogate from their constitutionally mandated function of judicial review. The rationale being that that if the values contained in the Constitution are not scrupulously observed and their precepts not carried out conscientiously, the result will be a constitutional crisis of great magnitude.

Keywords: constitution, judicial review, judicial overreach, separation of powers

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5986 Growth Performance, Body Linear Measurements and Body Condition Score of Savanna Brown Goats Fed Enzyme Treated Sawdust Diets as Replacement for Maize Offal and Managed Semi-intensively

Authors: Alabi Olushola John, Ogbiko Anthonia, Tsado Daniel Nma, Mbajiorgu Ejike Felix, Adama Theophilus Zubairu

Abstract:

A total of thirty (30) goats weighting between 5.8 and 7.3 kg were used to determine the growth performance, body linear measurements and body condition score of Semi intensively manged Savanna Brown goats fed enzyme treated sawdust diets (ETSD). They divided into five dietary treatments (T) groups with three replications using a completely randomized design. Treatment one (1) comprises of animals fed diet on 0 % enzyme treated sawdust while Treatment 2 (T2), Treatment 3 (T3), Treatment 4 (T4) and Treatment 5 (T5) comprises of animals fed diets containing 10, 20, 30 and 40 % enzyme treated sawdust diets, respectively. The study lasted 16 weeks. Data on growth performance parameters, body linear measurement (height at wither, body length, chest girth, hind leg length, foreleg length, facial length) and body condition score were collected and analyzed using one way analysis of variance. No significant difference (p>0.05) was observed in the all growth performance parameters and linear body measurements. However, significant difference was observed in body length and daily body length gains with highest value observed in animals fed the control diets (7.38 and 0.08 cm respectively) and animals on 30 % ETSD (7.25 and 0.07 cm respectively) and lowest values (4.75 and 0.05 cm respectively) were observed in animals fed 10 % ETSD among the treatment groups. It was, therefore, concluded that enzyme treated sawdust can be used in the diets of Savanna Brown goats up to 40 % replacement for maize offal since this treatment improved the body length and daily body length gains.

Keywords: performance, sawdust, enzyme treated, semi-intensively, replacement

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5985 Evaluation of NASA POWER and CRU Precipitation and Temperature Datasets over a Desert-prone Yobe River Basin: An Investigation of the Impact of Drought in the North-East Arid Zone of Nigeria

Authors: Yusuf Dawa Sidi, Abdulrahman Bulama Bizi

Abstract:

The most dependable and precise source of climate data is often gauge observation. However, long-term records of gauge observations, on the other hand, are unavailable in many regions around the world. In recent years, a number of gridded climate datasets with high spatial and temporal resolutions have emerged as viable alternatives to gauge-based measurements. However, it is crucial to thoroughly evaluate their performance prior to utilising them in hydroclimatic applications. Therefore, this study aims to assess the effectiveness of NASA Prediction of Worldwide Energy Resources (NASA POWER) and Climate Research Unit (CRU) datasets in accurately estimating precipitation and temperature patterns within the dry region of Nigeria from 1990 to 2020. The study employs widely used statistical metrics and the Standardised Precipitation Index (SPI) to effectively capture the monthly variability of precipitation and temperature and inter-annual anomalies in rainfall. The findings suggest that CRU exhibited superior performance compared to NASA POWER in terms of monthly precipitation and minimum and maximum temperatures, demonstrating a high correlation and much lower error values for both RMSE and MAE. Nevertheless, NASA POWER has exhibited a moderate agreement with gauge observations in accurately replicating monthly precipitation. The analysis of the SPI reveals that the CRU product exhibits superior performance compared to NASA POWER in accurately reflecting inter-annual variations in rainfall anomalies. The findings of this study indicate that the CRU gridded product is often regarded as the most favourable gridded precipitation product.

Keywords: CRU, climate change, precipitation, SPI, temperature

Procedia PDF Downloads 63
5984 Effect of Sodium Hydroxide Treatment on the Mechanical Properties of Crushed and Uncrushed Luffa cylindrica Fibre Reinforced rLDPE Composites

Authors: Paschal A. Ubi, Salawu Abdul Rahman Asipita

Abstract:

The use of suitable engineering materials which poses less harm to ,an and the environment is sort for in recent times, thus giving rise to polymer composites filled with natural organic reinforcement which are biodegradable. Treatment of natural fibres is essential in improving matrix to filler adhesion, hence improving its mechanical properties. In this study, investigations were carried out to determine the effect of sodium hydroxide treatment on the tensile, flexural, impact and hardness properties of crushed and uncrushed luffa cylindrica fibre reinforced recycled low density polyethylene composites. The LC (Luffa Cylindrica) fibres were treated with 0%, 2%, 4%, 6%, 8%, and 10% wt. NaOH concentrations for a period of 24 hours under room temperature conditions. The compounding of the waste LDPE was done using a two roll mill at a temperature of 150 oC and cured in a hydraulic press at a temperature of 150oC for 3 minutes at 3 metric tonnes. A formulation of 20/80g (reinforcement to matrix ratio in grams) was maintained for all fabricated samples. Analysis of the results showed that the uncrushed luffa fibre samples gave better mechanical properties compared with the crushed luffa fibre samples. The uncrushed luffa fibre composites had optimum tensile and flexural strengths of 7.65MPa and 17.08Mpa respectively corresponding to a young modulus and flexural modulus of 21.08MPa and 232.22MPa for the 8% and 4%wt. NaOH concentration respectively. Results obtained in the research showed that NaOH treatment with the 8% NaOH concentration improves the mechanical properties of the LC fibre reinforced composites when compared with other NaOH treatment concentration values.

Keywords: LC fibres, NaOH concentration, LC/rLDPE composite, tensile strength, flexural strength

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5983 Aesthetics and Semiotics in Theatre Performance

Authors: Păcurar Diana Istina

Abstract:

Structured in three chapters, the article attempts an X-ray of the theatrical aesthetics, correctly understood through the emotions generated in the intimate structure of the spectator that precedes the triggering of the viewer’s perception and not through the superposition, unfortunately common, of the notion of aesthetics with the style in which a theater show is built. The first chapter contains a brief history of the appearance of the word aesthetic, the formulation of definitions for this new term, as well as its connections with the notions of semiotics, in particular with the perception of the message transmitted. Starting with Aristotle and Plato, and reaching Magritte, their interventions should not be interpreted in the sense that the two scientific concepts can merge into one discipline. The perception that is the object of everyone’s analysis, the understanding of meaning, the decoding of the messages sent, and the triggering of feelings that culminate in pleasure, shaping the aesthetic vision, are some elements that keep semiotics and aesthetics distinct, even though they share many methods of analysis. The compositional processes of aesthetic representation and symbolic formation are analyzed in the second part of the paper from perspectives that include or do not include historical, cultural, social, and political processes. Aesthetics and the organization of its symbolic process are treated, taking into account expressive activity. The last part of the article explores the notion of aesthetics in applied theater, more specifically in the theater show. Taking the postmodern approach that aesthetics applies to the creation of an artifact and the reception of that artifact, the intervention of these elements in the theatrical system must be emphasized –that is, the analysis of the problems arising in the stages of the creation, presentation, and reception, by the public, of the theater performance. The aesthetic process is triggered involuntarily, simultaneously, or before the moment when people perceive the meaning of the messages transmitted by the work of art. The finding of this fact makes the mental process of aesthetics similar or related to that of semiotics. No matter how perceived individually, beauty, the mechanism of production can be reduced to two. The first step presents similarities to Peirce’s model, but the process between signified and signified additionally stimulates the related memory of the evaluation of beauty, adding to the meanings related to the signification itself. Then, the second step, a process of comparison, is followed, in which one examines whether the object being looked at matches the accumulated memory of beauty. Therefore, even though aesthetics is derived from the conceptual part, the judgment of beauty and, more than that, moral judgment come to be so important to the social activities of human beings that it evolves as a visible process independent of other conceptual contents.

Keywords: aesthetics, semiotics, symbolic composition, subjective joints, signifying, signified

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5982 ISIS Resurgence in the Era of COVID-19

Authors: Stacey Pollard, Henry Baraket, Girish Ganesan, Natalie Kim

Abstract:

One year after U.S.-led coalition operations liberated ISIS-held territories in Iraq and Syria and killed ISIS core leader Abu Bakr al-Baghdadi, ISIS is resurging. Taking a page from its old playbook, the organization is capitalizing on social unrest and a rapidly deteriorating security environment—exacerbated by the COVID-19 pandemic—to reconstitute in permissive areas of Iraq and Syria. This Short examines ISIS’s pandemic-era ground and information operations through the lens of its state- and nation-making efforts to help analysts and decisionmakers better understand the imminence and scope of the threat. ISIS is rapidly overcoming U.S.-supported counterterrorism gains and, without direct pressure to reverse these advances, is poised for recovery.

Keywords: Terrorism, COVID-19, Islamic State, Instability, Iraq, Syria, Global, Resurgence

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5981 Neuroplasticity: A Fresh Begining for Life

Authors: Leila Maleki, Ezatollah Ahmadi

Abstract:

Neuroplasticity or the flexibility of the neural system is the ability of the brain to adapt to the lack or deterioration of sense and the capability of the neural system to modify itself through changing shape and function. Not only have studies revealed that neuroplasticity does not end in childhood, but also they have proven that it continues till the end of life and is not limited to the neural system and covers the cognitive system as well. In the field of cognition, neuroplasticity is defined as the ability to change old thoughts according to new conditions and the individuals' differences in using various styles of cognitive regulation inducing several social, emotional and cognitive outcomes. On the other hand, complexities of daily life necessitates cognitive neuroplasticity in order to adapt to different circumstances. The present paper attempts to discuss and define major theories and principles of neuroplasticity and elaborate on nature or nurture.

Keywords: neuroplasticity, cognitive plasticity, plasticity theories, plasticity mechanisms

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5980 Neuroplasticity: A Fresh Beginning for Life

Authors: Leila Maleki, Ezatollah Ahmadi

Abstract:

Neuroplasticity or the flexibility of the neural system is the ability of the brain to adapt to the lack or deterioration of sense and the capability of the neural system to modify itself through changing shape and function. Not only have studies revealed that neuroplasticity does not end in childhood, but also they have proven that it continues till the end of life and is not limited to the neural system and covers the cognitive system as well. In the field of cognition, neuroplasticity is defined as the ability to change old thoughts according to new conditions and the individuals' differences in using various styles of cognitive regulation inducing several social, emotional and cognitive outcomes. On the other hand, complexities of daily life necessitates cognitive neuroplasticity in order to adapt to different circumstances. The. present paper attempts to discuss and define major theories and principles of neuroplasticity and elaborate on nature or nurture.

Keywords: neuroplasticity, cognitive plasticity, plasticity theories, plasticity mechanisms

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5979 Assessment of Hepatosteatosis Among Diabetic and Nondiabetic Patients Using Biochemical Parameters and Noninvasive Imaging Techniques

Authors: Tugba Sevinc Gamsiz, Emine Koroglu, Ozcan Keskin

Abstract:

Aim: Nonalcoholic fatty liver disease (NAFLD) is considered the most common chronic liver disease in the general population. The higher mortality and morbidity among NAFLD patients and lack of symptoms makes early detection and management important. In our study, we aimed to evaluate the relationship between noninvasive imaging and biochemical markers in diabetic and nondiabetic patients diagnosed with NAFLD. Materials and Methods: The study was conducted from (September 2017) to (December 2017) on adults admitted to Internal Medicine and Gastroenterology outpatient clinics with hepatic steatosis reported on ultrasound or transient elastography within the last six months that exclude patients with other liver diseases or alcohol abuse. The data were collected and analyzed retrospectively. Number cruncher statistical system (NCSS) 2007 program was used for statistical analysis. Results: 116 patients were included in this study. Diabetic patients compared to nondiabetics had significantly higher Controlled Attenuation Parameter (CAP), Liver Stiffness Measurement (LSM) and fibrosis values. Also, hypertension, hepatomegaly, high BMI, hypertriglyceridemia, hyperglycemia, high A1c, and hyperuricemia were found to be risk factors for NAFLD progression to fibrosis. Advanced fibrosis (F3, F4) was present in 18,6 % of all our patients; 35,8 % of diabetic and 5,7 % of nondiabetic patients diagnosed with hepatic steatosis. Conclusion: Transient elastography is now used in daily clinical practice as an accurate noninvasive tool during follow-up of patients with fatty liver. Early diagnosis of the stage of liver fibrosis improves the monitoring and management of patients, especially in those with metabolic syndrome criteria.

Keywords: diabetes, elastography, fatty liver, fibrosis, metabolic syndrome

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5978 Greenhouse Controlled with Graphical Plotting in Matlab

Authors: Bruno R. A. Oliveira, Italo V. V. Braga, Jonas P. Reges, Luiz P. O. Santos, Sidney C. Duarte, Emilson R. R. Melo, Auzuir R. Alexandria

Abstract:

This project aims to building a controlled greenhouse, or for better understanding, a structure where one can maintain a given range of temperature values (°C) coming from radiation emitted by an incandescent light, as previously defined, characterizing as a kind of on-off control and a differential, which is the plotting of temperature versus time graphs assisted by MATLAB software via serial communication. That way it is possible to connect the stove with a computer and monitor parameters. In the control, it was performed using a PIC 16F877A microprocessor which enabled convert analog signals to digital, perform serial communication with the IC MAX232 and enable signal transistors. The language used in the PIC's management is Basic. There are also a cooling system realized by two coolers 12V distributed in lateral structure, being used for venting and the other for exhaust air. To find out existing temperature inside is used LM35DZ sensor. Other mechanism used in the greenhouse construction was comprised of a reed switch and a magnet; their function is in recognition of the door position where a signal is sent to a buzzer when the door is open. Beyond it exist LEDs that help to identify the operation which the stove is located. To facilitate human-machine communication is employed an LCD display that tells real-time temperature and other information. The average range of design operating without any major problems, taking into account the limitations of the construction material and structure of electrical current conduction, is approximately 65 to 70 ° C. The project is efficient in these conditions, that is, when you wish to get information from a given material to be tested at temperatures not as high. With the implementation of the greenhouse automation, facilitating the temperature control and the development of a structure that encourages correct environment for the most diverse applications.

Keywords: greenhouse, microcontroller, temperature, control, MATLAB

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5977 Identification of Autism Spectrum Disorders in Day-Care Centres

Authors: Kenneth Larsen, Astrid Aasland, Synnve Schjølberg, Trond Diseth

Abstract:

Autism Spectrum Disorders (ASD) are neurodevelopmental disorders emerging in early development characterized by impairment in social communication skills and a restricted, repetitive and stereotyped patterns of behavior and interests. Early identification and interventions potentially improve development and quality of life of children with ASD. Symptoms of ASD are apparent through the second year of life, yet diagnostic age are still around 4 years of age. This study explored whether symptoms associated with ASD are possible to identify in typical Norwegian day-care centers in the second year of life. Results of this study clearly indicates that most described symptoms also are identifiable by day-care staff, and that a short observation list of 5 symptoms clearly identify children with ASD from a sample of normal developing peers.

Keywords: autism, early identification, day-care, screening

Procedia PDF Downloads 378
5976 "At 60 – Old Age, at 70 – the Hoary Head": The Perceived Meaning of Bringing a Foreign Caregiver into the Home in the Haredi Society – Challenges and Barriers to Culturally-Sensitive Intervention

Authors: Amit Zriker, Anat Freund

Abstract:

The aim of the study was to conduct a thorough examination into the multiple complexities of bringing a foreign caregiver into the home to care for older adults in the Haredi society, by relating to the perspectives of the older adult and his family members. Research questions were: What is the meaning of bringing a foreign caregiver into the home in Haredi society, from the point of view of the older adult’s family members, and what are the implications of these meanings in the context of developing social policies and interventions? The current study was a qualitative-phenomenological study, which relates to “the lived experience” of those involved in the studied phenomenon. In the framework of the study, the participants included 15 adult Haredi sons and daughters of elderly impaired parents who receive homecare from a foreign caregiver. Data collection was carried out using in-depth, semi-structured interviews; the interview guidelines are comprised of the following content worlds: the meanings of aging in Haredi families; the decision-making process in relation to providing home care assistance for elderly impaired parents; making decisions regarding bringing a foreign caregiver into the home to care for an elderly parent; the daily routine after bringing in a foreign caregiver; bringing in a foreign caregiver vs. the society and vs. the Haredi establishment; and more. The issue of bringing a foreign caregiver into the home in the context of a faith-based society has received only scant and partial research attention to date. Nevertheless, in light of the growing elderly population in the Haredi society in Israel, and in closed, faith-based societies, in general; there is a growing need to bring foreign caregivers into the home as a possible solution to the “aging-in-place” problem in these societies. The separatist nature, and the collectivist and faith-based lifestyle of the Haredi society present unique challenges and needs in the process of employing a foreign caregiver. Moreover, the foreign caregiver also brings his/her own cultural world to the encounter, meaning, this process involves the elderly impaired individual, his/her family members, as well as the foreign caregiver. Therefore, it is important to understand their attitudes, perceptions and interactions, in order to create a good fit among all involved parties. The innovation and uniqueness of the current study is in its in-depth exploration of a phenomenon through an emotional-cultural lens. The study findings also contribute to the creation of social policy in the field of nursing, which will be adapted and culturally sensitive to Haredi society, and other faith-based societies.

Keywords: culturally-sensitive intervention, faith-based society, foreign caregiver, Haredi society

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5975 Thermal Proprieties of Date Palm Wood

Authors: K. Almi, S. Lakel, A. Benchabane, A. Kriker

Abstract:

Several researches are focused on natural resources for the production of biomaterials intended for technical applications. Date palm wood present one of the world’s most important natural resource. Its use as insulating materials will help to solve the severe environmental and recycling problems which other artificial insulating materials caused. This paper reports the results of an experimental investigation on the thermal proprieties of date palm wood from Algeria. A study of physical, chemical, and mechanical properties is also carried out. The goal is to use this natural material in the manufacture of thermal insulation materials for buildings. The local natural resources used in this study are the date palm fibers from Biskra oasis in Algeria. The results have shown that there is no significant difference in the morphological proprieties of the four types of residues. Their chemical composition differed slightly; with the lowest amounts of cellulose and lignin content belong to Petiole. Water absorption study proved that Rachis has a low value of sorption whereas Petiole and Fibrillium have a high value of sorption what influenced their mechanical properties. It is seen that the Rachis and leaflets exhibit high tensile strength values compared to the other residue. On the other hand, the low value of the bulk density of Petiole and Fibrillium leads to a high value of specific tensile strength and young modulus. It was found that the specific young modulus of Petiole and Fibrillium was higher than that of Rachis and Leaflets and that of other natural fibers or even artificial fibers. Compared to the other materials date palm wood provide a good thermal proprieties thus, date palm wood will be a good candidate for the manufacturing efficient and safe insulating materials.

Keywords: composite materials, date palm fiber, natural fibers, tensile tests, thermal proprieties

Procedia PDF Downloads 280
5974 The Effect of the Side-Weir Crest Height to Scour in Clay-Sand Mixed Sediments

Authors: F. A. Saracoglu Varol, H. Agaccıoglu

Abstract:

Experimental studies to investigate the depth of the scour conducted at a side-weir intersection located at the 1800 curved flume which located Hydraulic Laboratory of Yıldız Technical University, Istanbul, Turkey. Side weirs were located at the middle of the straight part of the main channel. Three different lengths (25, 40 and 50 cm) and three different weir crest height (7, 10 and 12 cm) of the side weir placed on the side weir station. There is no scour when the material is only kaolin. Therefore, the cohesive bed was prepared by properly mixing clay material (kaolin) with 31% sand in all experiments. Following 24h consolidation time, in order to observe the effect of flow intensity on the scour depth, experiments were carried out for five different upstream Froude numbers in the range of 0.33-0.81. As a result of this study the relation between scour depth and upstream flow intensity as a function of time have been established. The longitudinal velocities decreased along the side weir; towards the downstream due to overflow over the side-weirs. At the beginning, the scour depth increases rapidly with time and then asymptotically approached constant values in all experiments for all side weir dimensions as in non-cohesive sediment. Thus, the scour depth reached equilibrium conditions. Time to equilibrium depends on the approach flow intensity and the dimensions of side weirs. For different heights of the weir crest, dimensionless scour depths increased with increasing upstream Froude number. Equilibrium scour depths which formed 7 cm side-weir crest height were obtained higher than that of the 12 cm side-weir crest height. This means when side-weir crest height increased equilibrium scour depths decreased. Although the upstream side of the scour hole is almost vertical, the downstream side of the hole is inclined.

Keywords: clay-sand mixed sediments, scour, side weir, hydraulic structures

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5973 Oxidative Stability of Methyl and Ethyl Microalgae Biodiesel with Synthetic Antioxidants

Authors: Willian L. G. Silva, Fabio R. M. Batista, Matthieu Tubino

Abstract:

Microalgae can be considered a potential source of oil for biodiesel synthesis since this microorganism can grow rapidly in either fresh or salty water, not competing with food production. There are several favorable conditions in Brazil for this type of culture due to the country’s great amount of water. Another very positive aspect of this type of culture is its ability to fix atmospheric CO2, contributing to the reduction of greenhouse gases and their effects on global warming. Despite this biodiesel environmental advantages it degrades resulting in changes in its physical and chemical properties. In this work, the methyl and ethyl microalgae biodiesel oxidative stability was studied in the absence and presence of a synthetic antioxidant. The synthetic antioxidants used were propyl gallate (PG) and tert-butylhydroquinone (TBHQ), at a 0,12% (w/w) concentration. The biodiesel mixture was kept in a sealed glass flask, sheltered from light, and at room temperature (about 25 ºC) for 180 days. During this period, aliquots from this biodiesel were subjected to induced degradation by the Rancimat method, which determines an important quality parameter, provided in the current methods, and is used to monitor the degradation processes that occur in the biodiesel over time. The induction period (IP) expresses the biodiesel oxidative stability. It was stablished that the minimum accepted IP value for biodiesel is 8 hours. The results show that ethylic biodiesel increased its IP value from 7,6 hours to 31 hours when using PG, and to 67 hours when using TBHQ, exceeding the minimum accepted IP value. When the antioxidants were added to the methylic biodiesel samples, the IP was raised to 28 hours when using PG, and to 62 hours when using TBHQ. These values were maintained throughout the entire period of study (180 days). On the other hand, the biodiesel samples without additives maintained an IP above the allowed value for only 30 days. Therefore, in order to preserve microalgae biodiesel for longer periods of time, it is necessary to add antioxidants to both derivatives, i.e., the ethylic and methylic.

Keywords: biodiesel, microalgae, oxidative stability, storage, synthetic antioxidants

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5972 Prevalence of Emotional Problems among Adolescent Students of Corporation Schools in Chennai

Authors: Vithya Veeramani, Karunanidhi Subbaiah

Abstract:

Emotional problems were found to be the predominant cause of suicide and second leading cause of death among adolescents in India. Emotional problems seem to be the underlying cause for various other severe psycho-social problems experienced in adolescence and also in later years of life. The Corporation schools in Chennai city are named as Chennai High School or Chennai Higher Secondary School run by the Corporation of Chennai. These schools fulfill the educational needs of students who hail from lower socio-economic status living in slums of the Chennai city. Adolescent students of Chennai schools tend to lack basic needs like food, clothes, shelter, etc. Some of the other significant problems faced by them are broken family, lack of parental support, frequent quarrel between parents, alcoholic parents, drug abuse and substance abuse among parents and neighbors, extended family, illiterate parents, deprivation of love and care, and lack of sense of belongingness. This prevailing condition may affect them emotionally and could lead to maladaptive behaviour, aggressiveness, poor interpersonal relationship with others, school refusal behaviour, school drop-out, suicide, etc. Therefore, it is very important to investigate the emotional problems faced by the adolescent students studying in Chennai schools, Chennai. A cross-sectional survey design was used to find the prevalence of emotional problems among adolescent students. Cluster sampling technique was used to select the schools for the present study considering the school as a cluster. In total, there are 15 zones, under the control of Chennai Corporation, of which only 7 zones have Corporation Schools in Chennai city, comprising of 32 Chennai Higher Secondary Schools and 38 Chennai High Schools. Out of these 70 schools, 29 schools comprising of 17 high schools and 12 higher secondary schools were selected randomly using lottery method. A sample of 2594 adolescent students from 9th standard and 11th standard was chosen for the study. Percentage analysis was done to find out the prevalence rate of emotional problems among adolescents students studying in Chennai Schools. Results of the study revealed that, out of 2594 students surveyed, 21.04% adolescent students were found to have academic problems (n = 546), 15.99% adolescent students had social problems (n = 415), behaviour problems was found to be prevalent among 12.87% adolescent students (n = 334), depression was prevalent among 15.88% adolescent students (n = 412) and anxiety was prevalent among 14.42% adolescent students (n = 374). Prevalence of emotional problems among male and female revealed that academic problems were more prevalent compared to other problems. Behaviour problems were least prevalent among boys and anxiety was least prevalent among girls than other problems. The overall prevalence rate of emotional problems was found to be on an increasing trend among adolescent students of low socio-economic status in Chennai city. The findings indicated the need for intervention to prevent and rehabilitate these adolescent students.

Keywords: adolescents, corporation schools, emotional problems, prevalence

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5971 ABET Accreditation Process for Engineering and Technology Programs: Detailed Process Flow from Criteria 1 to Criteria 8

Authors: Amit Kumar, Rajdeep Chakrabarty, Ganesh Gupta

Abstract:

This paper illustrates the detailed accreditation process of Accreditation Board of Engineering and Technology (ABET) for accrediting engineering and Technology programs. ABET is a non-governmental agency that accredits engineering and technology, applied and natural sciences, and computing sciences programs. ABET was founded on 10th May 1932 and was founded by Institute of Electrical and Electronics Engineering. International industries accept ABET accredited institutes having the highest standards in their academic programs. In this accreditation, there are eight criteria in general; criterion 1 describes the student outcome evaluations, criteria 2 measures the program's educational objectives, criteria 3 is the student outcome calculated from the marks obtained by students, criteria 4 establishes continuous improvement, criteria 5 focus on curriculum of the institute, criteria 6 is about faculties of this institute, criteria 7 measures the facilities provided by the institute and finally, criteria 8 focus on institutional support towards staff of the institute. In this paper, we focused on the calculative part of each criterion with equations and suitable examples, the files and documentation required for each criterion, and the total workflow of the process. The references and the values used to illustrate the calculations are all taken from the samples provided at ABET's official website. In the final section, we also discuss the criterion-wise score weightage followed by evaluation with timeframe and deadlines.

Keywords: Engineering Accreditation Committee, Computing Accreditation Committee, performance indicator, Program Educational Objective, ABET Criterion 1 to 7, IEEE, National Board of Accreditation, MOOCS, Board of Studies, stakeholders, course objective, program outcome, articulation, attainment, CO-PO mapping, CO-PO-SO mapping, PDCA cycle, degree certificates, course files, course catalogue

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5970 Congolese Wood in the Antwerp Interwar Interior

Authors: M. Jaenen, M. de Bouw, A. Verdonck, M. Leus

Abstract:

During the interwar period artificial materials were often preferred, but many Antwerp architects relied on the application of wood for most of the interior finishing works and furnishings. Archival, literature and on site research of interwar suburban townhouses and the Belgian wood and furniture industry gave a new insight to the application of wood in the interwar interior. Many interwar designers favored the decorative values in all treatments of wood because of its warmth, comfort, good-wearing, and therefore, economic qualities. For the creation of a successful modern interior the texture and surface of the wood becomes as important as the color itself. This aesthetics valuation was the result of the modernization of the wood industry. The development of veneer and plywood gave the possibility to create strong, flat, long and plain wooden surfaces which are capable of retaining their shape. Also the modernization of cutting machines resulted in high quality and diversity in texture of veneer. The flat and plain plywood surfaces were modern decorated with all kinds of veneer-sliced options. In addition, wood species from the former Belgian Colony Congo were imported. Limba (Terminalia superba), kambala (Chlorophora excelsa), mubala (Pentaclethra macrophylla) and sapelli (Entandrophragma cylindricum) were used in the interior of many Antwerp interwar suburban town houses. From the thirties onwards Belgian wood firms established modern manufactures in Congo. There the local wood was dried, cut and prepared for exportation to the harbor of Antwerp. The presence of all kinds of strong and decorative Congolese wood products supported its application in the interwar interior design. The Antwerp architects combined them in their designs for doors, floors, stairs, built-in-furniture, wall paneling and movable furniture.

Keywords: Antwerp, congo, furniture, interwar

Procedia PDF Downloads 207
5969 A Call for Justice and a New Economic Paradigm: Analyzing Counterhegemonic Discourses for Indigenous Peoples' Rights and Environmental Protection in Philippine Alternative Media

Authors: B. F. Espiritu

Abstract:

This paper examines the resistance of the Lumad people, the indigenous peoples in Mindanao, Southern Philippines, and of environmental and human rights activists to the Philippine government's neoliberal policies and their call for justice and a new economic paradigm that will uphold peoples' rights and environmental protection in two alternative media online sites. The study contributes to the body of knowledge on indigenous resistance to neoliberal globalization and the quest for a new economic paradigm that upholds social justice for the marginalized in society, empathy and compassion for those who depend on the land for their survival, and environmental sustainability. The study analyzes the discourses in selected news articles from Davao Today and Kalikasan (translated to English as 'Nature') People's Network for the Environment’s statements and advocacy articles for the Lumad and the environment from 2018 to February 2020. The study reveals that the alternative media news articles and the advocacy articles contain statements that expose the oppression and violation of human rights of the Lumad people, farmers, government environmental workers, and environmental activists as shown in their killings, illegal arrest and detention, displacement of the indigenous peoples, destruction of their schools by the military and paramilitary groups, and environmental plunder and destruction with the government's permit for the entry and operation of extractive and agribusiness industries in the Lumad ancestral lands. Anchored on Christian Fuch's theory of alternative media as critical media and Bert Cammaerts' theorization of alternative media as counterhegemonic media that are part of civil society and form a third voice between state media and commercial media, the study reveals the counterhegemonic discourses of the news and advocacy articles that oppose the dominant economic system of neoliberalism which oppresses the people who depend on the land for their survival. Furthermore, the news and advocacy articles seek to advance social struggles that transform society towards the realization of cooperative potentials or a new economic paradigm that upholds economic democracy, where the local people, including the indigenous people, are economically empowered their environment and protected towards the realization of self-sustaining communities. The study highlights the call for justice, empathy, and compassion for both the people and the environment and the need for a new economic paradigm wherein indigenous peoples and local communities are empowered towards becoming self-sustaining communities in a sustainable environment.

Keywords: alternative media, environmental sustainability, human rights, indigenous resistance

Procedia PDF Downloads 125
5968 Comparison Study of Capital Protection Risk Management Strategies: Constant Proportion Portfolio Insurance versus Volatility Target Based Investment Strategy with a Guarantee

Authors: Olga Biedova, Victoria Steblovskaya, Kai Wallbaum

Abstract:

In the current capital market environment, investors constantly face the challenge of finding a successful and stable investment mechanism. Highly volatile equity markets and extremely low bond returns bring about the demand for sophisticated yet reliable risk management strategies. Investors are looking for risk management solutions to efficiently protect their investments. This study compares a classic Constant Proportion Portfolio Insurance (CPPI) strategy to a Volatility Target portfolio insurance (VTPI). VTPI is an extension of the well-known Option Based Portfolio Insurance (OBPI) to the case where an embedded option is linked not to a pure risky asset such as e.g., S&P 500, but to a Volatility Target (VolTarget) portfolio. VolTarget strategy is a recently emerged rule-based dynamic asset allocation mechanism where the portfolio’s volatility is kept under control. As a result, a typical VTPI strategy allows higher participation rates in the market due to reduced embedded option prices. In addition, controlled volatility levels eliminate the volatility spread in option pricing, one of the frequently cited reasons for OBPI strategy fall behind CPPI. The strategies are compared within the framework of the stochastic dominance theory based on numerical simulations, rather than on the restrictive assumption of the Black-Scholes type dynamics of the underlying asset. An extended comparative quantitative analysis of performances of the above investment strategies in various market scenarios and within a range of input parameter values is presented.

Keywords: CPPI, portfolio insurance, stochastic dominance, volatility target

Procedia PDF Downloads 153