Search results for: free speech
3234 Chemical, Structural and Mechanical Optimization of Zr-Based Bulk Metallic Glass for Biomedical Applications
Authors: Eliott Guérin, Remi Daudin, Georges Kalepsi, Alexis Lenain, Sebastien Gravier, Benoit Ter-Ovanessian, Damien Fabregue, Jean-Jacques Blandin
Abstract:
Due to interesting compromise between mechanical and corrosion properties, Zr-based BMGs are attractive for biomedical applications. However, the enhancement of their glass forming ability (GFA) is often achieved by addition of toxic elements like Ni or Be, which is of course a problem for such applications. Consequently, the development of Ni-free Be-free Zr-based BMGs is of great interest. We have developed a Zr-based (Ni and Be-free) amorphous metallic alloy with an elastic limit twice the one of Ti-6Al-4V. The Zr56Co28Al16 composition exhibits a yield strength close to 2 GPa and low Young’s modulus (close to 90 GPa) [1-2]. In this work, we investigated Niobium (Nb) addition through substitution of Zr up to 8 at%. Cobalt substitution has already been reported [3], but we chose Zr substitution to preserve the glass forming ability. In this case, we show that the glass forming ability for 5 mm diameters rods is maintained up to 3 at% of Nb substitution using suction casting in cooper moulds. Concerning the thermal stability, we measure a strong compositional dependence on the glass transition (Tg). Using DSC analysis (heating rate 20 K/min), we show that the Tg rises from 752 K for 0 at% of Nb to 759 K for 3 at% of Nb. Yet, the thermal range between Tg and the crystallisation temperature (Tx) remains almost unchanged from 33 K to 35 K. Uniaxial compression tests on 2 mm diameter pillars and 3 points bending (3PB) tests on 1 mm thick plates are performed to study the Nb addition on the mechanical properties and the plastic behaviour. With these tests, an optimal Nb concentration is found, improving both plasticity and fatigue resistance. Through interpretations of DSC measurements, an attempt is made to correlate the modifications of the mechanical properties with the structural changes. The optimized chemical, structural and mechanical properties through Nb addition are encouraging to develop the potential of this BMG alloy for biomedical applications. For this purpose, we performed polarisation, immersion and cytotoxicity tests. The figure illustrates the polarisation response of Zr56Co28Al16, Zr54Co28Al16Nb2 and TA6V as a reference after 2h of open circuit potential. The results show that the substitution of Zr by a small amount of Nb significantly improves the corrosion resistance of the alloy.Keywords: metallic glasses, amorphous metal, medical, mechanical resistance, biocompatibility
Procedia PDF Downloads 1493233 Dielectric Study of Lead-Free Double Perovskite Structured Polycrystalline BaFe0.5Nb0.5O3 Material
Authors: Vijay Khopkar, Balaram Sahoo
Abstract:
Material with high value of dielectric constant has application in the electronics devices. Existing lead based materials have issues such as toxicity and problem with synthesis procedure. Double perovskite structured barium iron niobate (BaFe0.5Nb0.5O3, BFN) is the lead-free material, showing a high value of dielectric constant. Origin of high value of the dielectric constant in BFN is not clear. We studied the dielectric behavior of polycrystalline BFN sample over wide temperature and frequency range. A BFN sample synthesis by conventional solid states reaction method and phase pure dens pellet was used for dielectric study. The SEM and TEM study shows the presence of grain and grain boundary region. The dielectric measurement was done between frequency range of 40 Hz to 5 MHz and temperature between 20 K to 500 K. At 500 K temperature and lower frequency, there observed high value of dielectric constant which decreases with increase in frequency. The dipolar relaxation follows non-Debye type polarization with relaxation straight of 3560 at room temperature (300 K). Activation energy calculated from the dielectric and modulus formalism found to be 17.26 meV and 2.74 meV corresponds to the energy required for the motion of Fe3+ and Nb5+ ions within the oxygen octahedra. Our study shows that BFN is the order disorder type ferroelectric material.Keywords: barium iron niobate, dielectric, ferroelectric, non-Debye
Procedia PDF Downloads 1373232 Discriminant Shooting-Related Statistics between Winners and Losers 2023 FIBA U19 Basketball World Cup
Authors: Navid Ebrahmi Madiseh, Sina Esfandiarpour-Broujeni, Rahil Razeghi
Abstract:
Introduction: Quantitative analysis of game-related statistical parameters is widely used to evaluate basketball performance at both individual and team levels. Non-free throw shooting plays a crucial role as the primary scoring method, holding significant importance in the game's technical aspect. It has been explored the predictive value of game-related statistics in relation to various contextual and situational variables. Many similarities and differences also have been found between different age groups and levels of competition. For instance, in the World Basketball Championships after the 2010 rule change, 2-point field goals distinguished winners from losers in women's games but not in men's games, and the impact of successful 3-point field goals on women's games was minimal. The study aimed to identify and compare discriminant shooting-related statistics between winning and losing teams in men’s and women’s FIBA-U19-Basketball-World-Cup-2023 tournaments. Method: Data from 112 observations (2 per game) of 16 teams (for each gender) in the FIBA-U19-Basketball-World-Cup-2023 were selected as samples. The data were obtained from the official FIBA website using Python. Specific information was extracted, organized into a DataFrame, and consisted of twelve variables, including shooting percentages, attempts, and scoring ratio for 3-pointers, mid-range shots, paint shots, and free throws. Made% = scoring type successful attempts/scoring type total attempts¬ (1)Free-throw-pts% (free throw score ratio) = (free throw score/total score) ×100 (2)Mid-pts% (mid-range score ratio) = (mid-range score/total score) ×100 (3) Paint-pts% (paint score ratio) = (Paint score/total score) ×100 (4) 3p_pts% (three-point score ratio) = (three-point score/total score) ×100 (5) Independent t-tests were used to examine significant differences in shooting-related statistical parameters between winning and losing teams for both genders. Statistical significance was p < 0.05. All statistical analyses were completed with SPSS, Version 18. Results: The results showed that 3p-made%, mid-pts%, paint-made%, paint-pts%, mid-attempts, and paint-attempts were significantly different between winners and losers in men (t=-3.465, P<0.05; t=3.681, P<0.05; t=-5.884, P<0.05; t=-3.007, P<0.05; t=2.549, p<0.05; t=-3.921, P<0.05). For women, significant differences between winners and losers were found for 3p-made%, 3p-pts%, paint-made%, and paint-attempt (t=-6.429, P<0.05; t=-1.993, P<0.05; t=-1.993, P<0.05; t=-4.115, P<0.05; t=02.451, P<0.05). Discussion: The research aimed to compare shooting-related statistics between winners and losers in men's and women's teams at the FIBA-U19-Basketball-World-Cup-2023. Results indicated that men's winners excelled in 3p-made%, paint-made%, paint-pts%, paint-attempts, and mid-attempt, consistent with previous studies. This study found that losers in men’s teams had higher mid-pts% than winners, which was inconsistent with previous findings. It has been indicated that winners tend to prioritize statistically efficient shots while forcing the opponent to take mid-range shots. In women's games, significant differences in 3p-made%, 3p-pts%, paint-made%, and paint-attempts were observed, indicating that winners relied on riskier outside scoring strategies. Overall, winners exhibited higher accuracy in paint and 3P shooting than losers, but they also relied more on outside offensive strategies. Additionally, winners acquired a higher ratio of their points from 3P shots, which demonstrates their confidence in their skills and willingness to take risks at this competitive level.Keywords: gender, losers, shoot-statistic, U19, winners
Procedia PDF Downloads 973231 On the Effects of the Frequency and Amplitude of Sinusoidal External Cross-Flow Excitation Forces on the Vortex-Induced-Vibrations of an Oscillating Cylinder
Authors: Abouzar Kaboudian, Ravi Chaithanya Mysa, Boo Cheong Khoo, Rajeev Kumar Jaiman
Abstract:
Vortex induced vibrations can significantly affect the effectiveness of structures in aerospace as well as offshore marine industries. The oscillatory nature of the forces resulting from the vortex shedding around bluff bodies can result in undesirable effects such as increased loading, stresses, deflections, vibrations and noise in the structures, and also reduced fatigue life of the structures. To date, most studies concentrate on either the free oscillations or the prescribed motion of the bluff bodies. However, the structures in operation are usually subject to the external oscillatory forces (e.g. due to the platform motions in offshore industries). Periodic forces can be considered as a combinations of sinusoids. In this work, we present the effects of sinusoidal external cross-flow forces on the vortex-induced vibrations of an oscillating cylinder. The effects of the amplitude, as well as the frequency of these sinusoidal external force on the fluid-forces on the oscillating cylinder are carefully studied and presented. Moreover, we present the transition of the response to be dominated by the vortex-induced-vibrations to the range where it is mostly dictated by the external oscillatory forces. Furthermore, we will discuss how the external forces can affect the flow structures around a cylinder. All results are compared against free oscillations of the cylinder.Keywords: circular cylinder, external force, vortex-shedding, VIV
Procedia PDF Downloads 3693230 Interaction of Hemoglobin with Sodium Dodecyl Sulfate and Ascorbic Acid: A Chemometrics Study
Authors: Radnoosh Mirzajani, Ebrahim Mirzajani, Heshmatollah Ebrahimi-Najafabadi
Abstract:
Introduction: Hydrogen peroxide can be produced over the interaction of sodium dodecyl sulfate (SDS) with hemoglobin which would facilitate the oxidation process of hemoglobin. The presence of ascorbic acid (AA) can hinder the extreme oxidation of oxyhemoglobin. Methods: Hemoglobin was purified from blood samples according to the method of Williams. UV-V is spectra of Hb solutions mixed with different concentrations of SDS and AA were recorded. Chemical components, concentration, and spectral profiles were estimated using MCR-ALS techniques. Results: The intensity of soret band of OxyHb decreased due to the interaction of Hb with SDS. Furthermore, changes were also observed for peaks at 575 and 540. Subspace plots confirm the presence of OxyHb, MetHb, and Hemichrom in each mixture. The resolved concentration profiles using MCR-ALS reveal that the mole fraction of OxyHb increased upon the presence of AA up to a concentration level of 3 mM. The higher concentration of AA shows a reverse effect. AA demonstrated a dual effect on the interaction of hemoglobin with SDS. AA disturbs the interaction of SDS and hemoglobin and exhibits an antioxidative effect. However, it caused a tiny decrease in the mole fraction of OxyHb. Conclusions: H2O2 produces upon the interaction of OxyHb with SDS. Oxidation of OxyHb facilitates due to overproduction of H2O2. Ascorbic acid interacts with H2O2 to form dehydroascorbic acid. Furthermore, the available free SDS was reduced because the Gibbs free energy for micelle production of SDS became more negative in the presence of AA.Keywords: hemoglobin, ascorbic acid, sodium dodecyl sulfate, multivariate curve resolution, antioxidant
Procedia PDF Downloads 1193229 A Study of Two Disease Models: With and Without Incubation Period
Authors: H. C. Chinwenyi, H. D. Ibrahim, J. O. Adekunle
Abstract:
The incubation period is defined as the time from infection with a microorganism to development of symptoms. In this research, two disease models: one with incubation period and another without incubation period were studied. The study involves the use of a mathematical model with a single incubation period. The test for the existence and stability of the disease free and the endemic equilibrium states for both models were carried out. The fourth order Runge-Kutta method was used to solve both models numerically. Finally, a computer program in MATLAB was developed to run the numerical experiments. From the results, we are able to show that the endemic equilibrium state of the model with incubation period is locally asymptotically stable whereas the endemic equilibrium state of the model without incubation period is unstable under certain conditions on the given model parameters. It was also established that the disease free equilibrium states of the model with and without incubation period are locally asymptotically stable. Furthermore, results from numerical experiments using empirical data obtained from Nigeria Centre for Disease Control (NCDC) showed that the overall population of the infected people for the model with incubation period is higher than that without incubation period. We also established from the results obtained that as the transmission rate from susceptible to infected population increases, the peak values of the infected population for the model with incubation period decrease and are always less than those for the model without incubation period.Keywords: asymptotic stability, Hartman-Grobman stability criterion, incubation period, Routh-Hurwitz criterion, Runge-Kutta method
Procedia PDF Downloads 1753228 Analysis of Gas Transport and Sorption Processes in Coal under Confining Pressure Conditions
Authors: Anna Pajdak, Mateusz Kudasik, Norbert Skoczylas, Leticia Teixeira Palla Braga
Abstract:
A substantial majority of gas transport and sorption researches into coal are carried out on samples that are free of stress. In natural conditions, coal occurs at considerable depths, which often exceed 1000 meters. In such conditions, coal is subjected to geostatic pressure. Thus, in natural conditions, the sorption capacity of coal subjected to geostatic pressure can differ considerably from the sorption capacity of coal, determined in laboratory conditions, which is free of stress. The work presents the results of filtration and sorption tests of gases in coal under confining pressure conditions. The tests were carried out on the author's device, which ensures: confining pressure regulation in the range of 0-30 MPa, isobaric gas pressure conditions, and registration of changes in sample volume during its gas saturation. Based on the conducted research it was found, among others, that the sorption capacity of coal relative to CO₂ was reduced by about 15% as a result of the change in the confining pressure from 1.5 MPa to 30 MPa exerted on the sample. The same change in sample load caused a significant, more than tenfold reduction in carbon permeability to CO₂. The results confirmed that a load of coal corresponding to a hydrostatic pressure of 1000 meters underground reduces its permeability and sorption properties. These results are so important that the effect of load on the sorption properties of coal should be taken into account in laboratory studies on the applicability of CO₂ Enhanced Coal Bed Methane Recovery (CO₂-ECBM) technology.Keywords: coal, confining pressure, gas transport, sorption
Procedia PDF Downloads 1213227 Valorizing Traditional Greek Wheat Varieties: Use of DNA Barcoding for Species Identification and Biochemical Analysis of Their Nutritional Value
Authors: Niki Mougiou, Spyros Didos, Ioanna Bouzouka, Athina Theodorakopoulou, Michael Kornaros, Anagnostis Argiriou
Abstract:
Grains from traditional old Greek cereal varieties were evaluated and compared to commercial cultivars, like Simeto and Mexicali 81, in an effort to valorize local products and assess the nutritional benefits of ancient grains. The samples studied in this research included common wheat, durum wheat, emmer (Triticum dicoccum) and einkorn (Triticum monococcum), as well as barley, oats and rye grains. The Internal Transcribed Spacer 2 (ITS2) nuclear region was amplified and sequenced as a barcode for species identification, allowing the verification of the label of each product. After that, the total content of bound and free polyphenols and flavonoids, as well as the antioxidant activity of bound and free compounds, was measured by classic colorimetric assays using Folin- Ciocalteu, AlCl₃ and DPPH‧ (2,2-diphenyl-1-picrylhydrazyl) reagents, respectively. Moreover, the level of variation of fatty acids was determined in all samples by gas chromatography. The results showed that local old landraces of emmer and einkorn had the highest polyphenol content, 2.4 and 3.3 times higher than the average value of 5 durum wheat samples, respectively. Regarding the total flavonoid content, einkorn had 2.6-fold and emmer 2-fold higher values than common wheat. The antioxidant activity of free or bound compounds was at the same level, at about 20-30% higher in both einkorn and emmer compared to common wheat. Five main fatty acids were detected in all samples, in order of decreasing amounts: linoleic (C18:2) > palmitic (C16:0) ≈ , oleic (C18:1) > eicosenoic (C20:1, cis-11) > stearic (C18:0). Emmer and einkorn showed a higher diversity of fatty acids and a higher content of mono-unsaturated fatty acids compared to common wheat. The results of this study demonstrate the high nutritional value of old local landraces that have been put aside by more productive, yet with lower qualitative characteristics, commercial cultivars, underlining the importance of maintaining sustainable agricultural practices to ensure their continued cultivation.Keywords: biochemical analysis, nutritional value, plant barcoding, wheat
Procedia PDF Downloads 853226 An Emergentist Defense of Incompatibility between Morally Significant Freedom and Causal Determinism
Authors: Lubos Rojka
Abstract:
The common perception of morally responsible behavior is that it presupposes freedom of choice, and that free decisions and actions are not determined by natural events, but by a person. In other words, the moral agent has the ability and the possibility of doing otherwise when making morally responsible decisions, and natural causal determinism cannot fully account for morally significant freedom. The incompatibility between a person’s morally significant freedom and causal determinism appears to be a natural position. Nevertheless, some of the most influential philosophical theories on moral responsibility are compatibilist or semi-compatibilist, and they exclude the requirement of alternative possibilities, which contradicts the claims of classical incompatibilism. The compatibilists often employ Frankfurt-style thought experiments to prove their theory. The goal of this paper is to examine the role of imaginary Frankfurt-style examples in compatibilist accounts. More specifically, the compatibilist accounts defended by John Martin Fischer and Michael McKenna will be inserted into the broader understanding of a person elaborated by Harry Frankfurt, Robert Kane and Walter Glannon. Deeper analysis reveals that the exclusion of alternative possibilities based on Frankfurt-style examples is problematic and misleading. A more comprehensive account of moral responsibility and morally significant (source) freedom requires higher order complex theories of human will and consciousness, in which rational and self-creative abilities and a real possibility to choose otherwise, at least on some occasions during a lifetime, are necessary. Theoretical moral reasons and their logical relations seem to require a sort of higher-order agent-causal incompatibilism. The ability of theoretical or abstract moral reasoning requires complex (strongly emergent) mental and conscious properties, among which an effective free will, together with first and second-order desires. Such a hierarchical theoretical model unifies reasons-responsiveness, mesh theory and emergentism. It is incompatible with physical causal determinism, because such determinism only allows non-systematic processes that may be hard to predict, but not complex (strongly) emergent systems. An agent’s effective will and conscious reflectivity is the starting point of a morally responsible action, which explains why a decision is 'up to the subject'. A free decision does not always have a complete causal history. This kind of an emergentist source hyper-incompatibilism seems to be the best direction of the search for an adequate explanation of moral responsibility in the traditional (merit-based) sense. Physical causal determinism as a universal theory would exclude morally significant freedom and responsibility in the traditional sense because it would exclude the emergence of and supervenience by the essential complex properties of human consciousness.Keywords: consciousness, free will, determinism, emergence, moral responsibility
Procedia PDF Downloads 1643225 The Effect of Damper Attachment on Tennis Racket Vibration: A Simulation Study
Authors: Kuangyou B. Cheng
Abstract:
Tennis is among the most popular sports worldwide. During ball-racket impact, substantial vibration transmitted to the hand/arm may be the cause of “tennis elbow”. Although it is common for athletes to attach a “vibration damper” to the spring-bed, the effect remains unclear. To avoid subjective factors and errors in data recording, the effect of damper attachment on racket handle end vibration was investigated with computer simulation. The tennis racket was modeled as a beam with free-free ends (similar to loosely holding the racket). Finite difference method with 40 segments was used to simulate ball-racket impact response. The effect of attaching a damper was modeled as having a segment with increased mass. It was found that the damper has the largest effect when installed at the spring-bed center. However, this is not a practical location due to interference with ball-racket impact. Vibration amplitude changed very slightly when the damper was near the top or bottom of the spring-bed. The damper works only slightly better at the bottom than at the top of the spring-bed. In addition, heavier dampers work better than lighter ones. These simulation results were comparable with experimental recordings in which the selection of damper locations was restricted by ball impact locations. It was concluded that mathematical model simulations were able to objectively investigate the effect of damper attachment on racket vibration. In addition, with very slight difference in grip end vibration amplitude when the damper was attached at the top or bottom of the spring-bed, whether the effect can really be felt by athletes is questionable.Keywords: finite difference, impact, modeling, vibration amplitude
Procedia PDF Downloads 2623224 Enhancing Industrial Wastewater Treatment: Efficacy and Optimization of Ultrasound-Assisted Laccase Immobilized on Magnetic Fe₃O₄ Nanoparticles
Authors: K. Verma, v. S. Moholkar
Abstract:
In developed countries, water pollution caused by industrial discharge has emerged as a significant environmental concern over the past decades. However, despite ongoing efforts, a fully effective and sustainable remediation strategy has yet to be identified. This paper describes how enzymatic and sonochemical treatments have demonstrated great promise in degrading bio-refractory pollutants. Mainly, a compelling area of interest lies in the combined technique of sono-enzymatic treatment, which has exhibited a synergistic enhancement effect surpassing that of the individual techniques. This study employed the covalent attachment method to immobilize Laccase from Trametes versicolor onto amino-functionalized magnetic Fe₃O₄ nanoparticles. To comprehensively characterize the synthesized free nanoparticles and the laccase-immobilized nanoparticles, various techniques such as X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FT-IR), scanning electron microscope (SEM), vibrating sample magnetometer (VSM), and surface area through Brunauer-Emmett-Teller (BET) were employed. The size of immobilized Fe₃O₄@Laccase was found to be 60 nm, and the maximum loading of laccase was found to be 24 mg/g of nanoparticle. An investigation was conducted to study the effect of various process parameters, such as immobilized Fe₃O₄ Laccase dose, temperature, and pH, on the % Chemical oxygen demand (COD) removal as a response. The statistical design pinpointed the optimum conditions (immobilized Fe₃O₄ Laccase dose = 1.46 g/L, pH = 4.5, and temperature = 66 oC), resulting in a remarkable 65.58% COD removal within 60 minutes. An even more significant improvement (90.31% COD removal) was achieved with ultrasound-assisted enzymatic reaction utilizing a 10% duty cycle. The investigation of various kinetic models for free and immobilized laccase, such as the Haldane, Yano, and Koga, and Michaelis-Menten, showed that ultrasound application impacted the kinetic parameters Vmax and Km. Specifically, Vmax values for free and immobilized laccase were found to be 0.021 mg/L min and 0.045 mg/L min, respectively, while Km values were 147.2 mg/L for free laccase and 136.46 mg/L for immobilized laccase. The lower Km and higher Vmax for immobilized laccase indicate its enhanced affinity towards the substrate, likely due to ultrasound-induced alterations in the enzyme's confirmation and increased exposure of active sites, leading to more efficient degradation. Furthermore, the toxicity and Liquid chromatography-mass spectrometry (LC-MS) analysis revealed that after the treatment process, the wastewater exhibited 70% less toxicity than before treatment, with over 25 compounds degrading by more than 75%. At last, the prepared immobilized laccase had excellent recyclability retaining 70% activity up to 6 consecutive cycles. A straightforward manufacturing strategy and outstanding performance make the recyclable magnetic immobilized Laccase (Fe₃O₄ Laccase) an up-and-coming option for various environmental applications, particularly in water pollution control and treatment.Keywords: kinetic, laccase enzyme, sonoenzymatic, ultrasound irradiation
Procedia PDF Downloads 673223 Preparation and Antioxidant Activity of Heterocyclic Indole Derivatives
Authors: Tunca Gul Altuntas, Aziz Baydar, Cemre Acar, Sezen Yılmaz, Tulay Coban
Abstract:
Free radicals, which are generated in many bioorganic redox processes, play a role in the pathogenesis of several diseases including cancer, arthritis, hemorrhagic shock, inflammatory, cardiovascular, neurodegenerative diseases and age-related degenerative brain diseases. Exposures of normal cell to free radical damages several structures, oxidizes nucleic acids, proteins, lipids, or DNA. Compounds interfere with the action of reactive oxygen species might be useful in prevention and treatment of these pathologies. A series of indole compounds containing piperazine ring were synthesized. Coupling of indole-2-carboxylic acid with monosubstituted piperazines was accomplished with 1,1’-carbonyldiimidazole (CDI) in a good yield. The structures of prepared compounds were verified in good agreement with their 1H NMR (nuclear magnetic resonance), MS (mass spectrophotometry), and IR (infrared spectrophotometry) characteristics. In this work, all synthetized indole derivatives were screened in vitro for their antioxidative potential against vitamin E (α-tocopherol) using different antioxidant assays such as superoxide anion formation, lipid peroxidation levels in rat liver, and 2,2-diphenyl-1-picrylhydrazyl (DPPH) stable radical scavenging activity. The synthesized compounds showed various levels of inhibition compared to vitamin E. This may give promising results for the development of new antioxidant agents.Keywords: antioxidant, indoles, piperazines, reactive oxygen species
Procedia PDF Downloads 2313222 Factors of Non-Conformity Behavior and the Emergence of a Ponzi Game in the Riba-Free (Interest-Free) Banking System of Iran
Authors: Amir Hossein Ghaffari Nejad, Forouhar Ferdowsi, Reza Mashhadi
Abstract:
In the interest-free banking system of Iran, the savings of society are in the form of bank deposits, and banks using the Islamic contracts, allocate the resources to applicants for obtaining facilities and credit. In the meantime, the central bank, with the aim of introducing monetary policy, determines the maximum interest rate on bank deposits in terms of macroeconomic requirements. But in recent years, the country's economic constraints with the stagflation and the consequence of the institutional weaknesses of the financial market of Iran have resulted in massive disturbances in the balance sheet of the banking system, resulting in a period of mismatch maturity in the banks' assets and liabilities and the implementation of a Ponzi game. This issue caused determination of the interest rate in long-term bank deposit contracts to be associated with non-observance of the maximum rate set by the central bank. The result of this condition was in the allocation of new sources of equipment to meet past commitments towards the old depositors and, as a result, a significant part of the supply of equipment was leaked out of the facilitating cycle and credit crunch emerged. The purpose of this study is to identify the most important factors affecting the occurrence of non-confirmatory financial banking behavior using data from 19 public and private banks of Iran. For this purpose, the causes of this non-confirmatory behavior of banks have been investigated using the panel vector autoregression method (PVAR) for the period of 2007-2015. Granger's causality test results suggest that the return of parallel markets for bank deposits, non-performing loans and the high share of the ratio of facilities to banks' deposits are all a cause of the formation of non-confirmatory behavior. Also, according to the results of impulse response functions and variance decomposition, NPL and the ratio of facilities to deposits have the highest long-term effect and also have a high contribution to explaining the changes in banks' non-confirmatory behavior in determining the interest rate on deposits.Keywords: non-conformity behavior, Ponzi Game, panel vector autoregression, nonperforming loans
Procedia PDF Downloads 2183221 Evaluation of Mixing and Oxygen Transfer Performances for a Stirred Bioreactor Containing P. chrysogenum Broths
Authors: A. C. Blaga, A. Cârlescu, M. Turnea, A. I. Galaction, D. Caşcaval
Abstract:
The performance of an aerobic stirred bioreactor for fungal fermentation was analyzed on the basis of mixing time and oxygen mass transfer coefficient, by quantifying the influence of some specific geometrical and operational parameters of the bioreactor, as well as the rheological behavior of Penicillium chrysogenum broth (free mycelia and mycelia aggregates). The rheological properties of the fungus broth, controlled by the biomass concentration, its growth rate, and morphology strongly affect the performance of the bioreactor. Experimental data showed that for both morphological structures the accumulation of fungus biomass induces a significant increase of broths viscosity and modifies the rheological behavior. For lower P. chrysogenum concentrations (both morphological conformations), the mixing time initially increases with aeration rate, reaches a maximum value and decreases. This variation can be explained by the formation of small bubbles, due to the presence of solid phase which hinders the bubbles coalescence, the rising velocity of bubbles being reduced by the high apparent viscosity of fungus broths. By biomass accumulation, the variation of mixing time with aeration rate is gradually changed, the continuous reduction of mixing time with air input flow increase being obtained for 33.5 g/l d.w. P. chrysogenum. Owing to the superior apparent viscosity, which reduces considerably the relative contribution of mechanical agitation to the broths mixing, these phenomena are more pronounced for P. chrysogenum free mycelia. Due to the increase of broth apparent viscosity, the biomass accumulation induces two significant effects on oxygen transfer rate: the diminution of turbulence and perturbation of bubbles dispersion - coalescence equilibrium. The increase of P. chrysogenum free mycelia concentration leads to the decrease of kla values. Thus, for the considered variation domain of the main parameters taken into account, namely air superficial velocity from 8.36 10-4 to 5.02 10-3 m/s and specific power input from 100 to 500 W/m3, kla was reduced for 3.7 times for biomass concentration increase from 4 to 36.5 g/l d.w. The broth containing P. crysogenum mycelia aggregates exhibits a particular behavior from the point of view of oxygen transfer. Regardless of bioreactor operating conditions, the increase of biomass concentration leads initially to the increase of oxygen mass transfer rate, the phenomenon that can be explained by the interaction of pellets with bubbles. The results are in relation with the increase of apparent viscosity of broths corresponding to the variation of biomass concentration between the mentioned limits. Thus, the apparent viscosity of the suspension of fungus mycelia aggregates increased for 44.2 times and fungus free mycelia for 63.9 times for CX increase from 4 to 36.5 g/l d.w. By means of the experimental data, some mathematical correlations describing the influences of the considered factors on mixing time and kla have been proposed. The proposed correlations can be used in bioreactor performance evaluation, optimization, and scaling-up.Keywords: biomass concentration, mixing time, oxygen mass transfer, P. chrysogenum broth, stirred bioreactor
Procedia PDF Downloads 3403220 Nonlinear Modelling of Sloshing Waves and Solitary Waves in Shallow Basins
Authors: Mohammad R. Jalali, Mohammad M. Jalali
Abstract:
The earliest theories of sloshing waves and solitary waves based on potential theory idealisations and irrotational flow have been extended to be applicable to more realistic domains. To this end, the computational fluid dynamics (CFD) methods are widely used. Three-dimensional CFD methods such as Navier-Stokes solvers with volume of fluid treatment of the free surface and Navier-Stokes solvers with mappings of the free surface inherently impose high computational expense; therefore, considerable effort has gone into developing depth-averaged approaches. Examples of such approaches include Green–Naghdi (GN) equations. In Cartesian system, GN velocity profile depends on horizontal directions, x-direction and y-direction. The effect of vertical direction (z-direction) is also taken into consideration by applying weighting function in approximation. GN theory considers the effect of vertical acceleration and the consequent non-hydrostatic pressure. Moreover, in GN theory, the flow is rotational. The present study illustrates the application of GN equations to propagation of sloshing waves and solitary waves. For this purpose, GN equations solver is verified for the benchmark tests of Gaussian hump sloshing and solitary wave propagation in shallow basins. Analysis of the free surface sloshing of even harmonic components of an initial Gaussian hump demonstrates that the GN model gives predictions in satisfactory agreement with the linear analytical solutions. Discrepancies between the GN predictions and the linear analytical solutions arise from the effect of wave nonlinearities arising from the wave amplitude itself and wave-wave interactions. Numerically predicted solitary wave propagation indicates that the GN model produces simulations in good agreement with the analytical solution of the linearised wave theory. Comparison between the GN model numerical prediction and the result from perturbation analysis confirms that nonlinear interaction between solitary wave and a solid wall is satisfactorilly modelled. Moreover, solitary wave propagation at an angle to the x-axis and the interaction of solitary waves with each other are conducted to validate the developed model.Keywords: Green–Naghdi equations, nonlinearity, numerical prediction, sloshing waves, solitary waves
Procedia PDF Downloads 2843219 Modeling Aeration of Sharp Crested Weirs by Using Support Vector Machines
Authors: Arun Goel
Abstract:
The present paper attempts to investigate the prediction of air entrainment rate and aeration efficiency of a free over-fall jets issuing from a triangular sharp crested weir by using regression based modelling. The empirical equations, support vector machine (polynomial and radial basis function) models and the linear regression techniques were applied on the triangular sharp crested weirs relating the air entrainment rate and the aeration efficiency to the input parameters namely drop height, discharge, and vertex angle. It was observed that there exists a good agreement between the measured values and the values obtained using empirical equations, support vector machine (Polynomial and rbf) models, and the linear regression techniques. The test results demonstrated that the SVM based (Poly & rbf) model also provided acceptable prediction of the measured values with reasonable accuracy along with empirical equations and linear regression techniques in modelling the air entrainment rate and the aeration efficiency of a free over-fall jets issuing from triangular sharp crested weir. Further sensitivity analysis has also been performed to study the impact of input parameter on the output in terms of air entrainment rate and aeration efficiency.Keywords: air entrainment rate, dissolved oxygen, weir, SVM, regression
Procedia PDF Downloads 4363218 Time Delayed Susceptible-Vaccinated-Infected-Recovered-Susceptible Epidemic Model along with Nonlinear Incidence and Nonlinear Treatment
Authors: Kanica Goel, Nilam
Abstract:
Infectious diseases are a leading cause of death worldwide and hence a great challenge for every nation. Thus, it becomes utmost essential to prevent and reduce the spread of infectious disease among humans. Mathematical models help to better understand the transmission dynamics and spread of infections. For this purpose, in the present article, we have proposed a nonlinear time-delayed SVIRS (Susceptible-Vaccinated-Infected-Recovered-Susceptible) mathematical model with nonlinear type incidence rate and nonlinear type treatment rate. Analytical study of the model shows that model exhibits two types of equilibrium points, namely, disease-free equilibrium and endemic equilibrium. Further, for the long-term behavior of the model, stability of the model is discussed with the help of basic reproduction number R₀ and we showed that disease-free equilibrium is locally asymptotically stable if the basic reproduction number R₀ is less than one and unstable if the basic reproduction number R₀ is greater than one for the time lag τ≥0. Furthermore, when basic reproduction number R₀ is one, using center manifold theory and Casillo-Chavez and Song theorem, we showed that the model undergoes transcritical bifurcation. Moreover, numerical simulations are being carried out using MATLAB 2012b to illustrate the theoretical results.Keywords: nonlinear incidence rate, nonlinear treatment rate, stability, time delayed SVIRS epidemic model
Procedia PDF Downloads 1493217 A Convergent Interacting Particle Method for Computing Kpp Front Speeds in Random Flows
Authors: Tan Zhang, Zhongjian Wang, Jack Xin, Zhiwen Zhang
Abstract:
We aim to efficiently compute the spreading speeds of reaction-diffusion-advection (RDA) fronts in divergence-free random flows under the Kolmogorov-Petrovsky-Piskunov (KPP) nonlinearity. We study a stochastic interacting particle method (IPM) for the reduced principal eigenvalue (Lyapunov exponent) problem of an associated linear advection-diffusion operator with spatially random coefficients. The Fourier representation of the random advection field and the Feynman-Kac (FK) formula of the principal eigenvalue (Lyapunov exponent) form the foundation of our method implemented as a genetic evolution algorithm. The particles undergo advection-diffusion and mutation/selection through a fitness function originated in the FK semigroup. We analyze the convergence of the algorithm based on operator splitting and present numerical results on representative flows such as 2D cellular flow and 3D Arnold-Beltrami-Childress (ABC) flow under random perturbations. The 2D examples serve as a consistency check with semi-Lagrangian computation. The 3D results demonstrate that IPM, being mesh-free and self-adaptive, is simple to implement and efficient for computing front spreading speeds in the advection-dominated regime for high-dimensional random flows on unbounded domains where no truncation is needed.Keywords: KPP front speeds, random flows, Feynman-Kac semigroups, interacting particle method, convergence analysis
Procedia PDF Downloads 463216 Code Switching: A Case Study Of Lebanon
Authors: Wassim Bekai
Abstract:
Code switching, as its name states, is altering between two or more languages in one sentence. The speaker tends to use code switching in his/her speech for better clarification of his/her message to the receiver. It is commonly used in sociocultural countries such as Lebanon because of the various cultures that have come across its lands through history, considering Lebanon is geographically located in the heart of the world, and hence between many cultures and languages. In addition, Lebanon was occupied by Turkish authorities for about 400 years, and later on by the French mandate, where both of these countries forced their languages in official papers and in the Lebanese educational system. In this paper, the importance of code switching in the Lebanese workplace will be examined, stressing the efficiency and amount of the production resulting from code switching in the workplace (factories, universities among other places) in addition to exploring the social, education, religious and cultural factors behind this phenomenon in Lebanon.Keywords: code switching, Lebanon, cultural, factors
Procedia PDF Downloads 2873215 Vibration Frequency Analysis of Sandwich Nano-Plate on Visco Pasternak Foundation by Using Modified Couple Stress Theory
Authors: Hamed Khani Arani, Mohammad Shariyat, Armaghan Mohammadian
Abstract:
In this research, the free vibration of a rectangular sandwich nano-plate (SNP) made of three smart layers in the visco Pasternak foundation is studied. The core of the sandwich is a piezo magnetic nano-plate integrated with two layers of piezoelectric materials. First-order shear deformation plate theory is utilized to derive the motion equations by using Hamilton’s principle, piezoelectricity, and modified couple stress theory. Elastic medium is modeled by visco Pasternak foundation, where the damping coefficient effect is investigated on the stability of sandwich nano-plate. These equations are solved by the differential quadrature method (DQM), considering different boundary conditions. Results indicate the effect of various parameters such as aspect ratio, thickness ratio, shear correction factor, damping coefficient, and boundary conditions on the dimensionless frequency of sandwich nano-plate. The results are also compared by those available in the literature, and these findings can be used for automotive industry, communications equipment, active noise, stability, and vibration cancellation systems and utilized for designing the magnetostrictive actuator, motor, transducer and sensors in nano and micro smart structures.Keywords: free vibration, modified couple stress theory, sandwich nano-plate, visco Pasternak foundation
Procedia PDF Downloads 1383214 A Three Tier Secure KQML Interface with Novel Performatives
Authors: Dimple Juneja, Aarti Singh, Renu Hooda
Abstract:
Knowledge Query Manipulation Language (KQML) and FIPA ACL are two prime communication languages existing in multi agent systems (MAS). Both languages are more or less similar in terms of semantics (based on speech act theory) and offer cutting edge competition while establishing agent communication across Internet. In contrast to the fact that software agents operating on the internet are required to be more safeguarded from their counter-peer, both protocols lack security performatives. The paper proposes a three tier security interface with few novel security related performatives enhancing the basic architecture of KQML. The three levels are attestation, certification and trust establishment which enforces a tight security and hence reduces the security breeches.Keywords: multiagent systems, KQML, FIPA ACL, performatives
Procedia PDF Downloads 4113213 Thyroid Malignancy Concurrent with Hyperthyroidism: Variations with Thyroid Status and Age
Authors: N. J. Nawarathna, N. R. Kmarasinghe, D. Chandrasekara, B. M. R. S. Balasooriya, R. A. A. Shaminda, R. J. K. Senevirathne
Abstract:
Introduction: Thyroid malignancy associated with hyperthyroidism is considered rare. Retrospective studies have shown the incidence of thyroid malignancy in hyperthyroid patients to be low (0.7-8.5%). To assess the clinical relevance of this association, thyroid status in a cohort of patients with thyroid malignancy were analyzed. Method: Thyroid malignancies diagnosed histologically in 56 patients, over a 18 month period beginning from April 2013, in a single surgical unit at Teaching Hospital Kandy were included. Preoperative patient details and progression of thyroid status were asessed with Thyroid Stimulating Hormone, free Thyroxin and free Triiodothyronine levels. Results: Amongst 56 patients Papillary carcinoma was diagnosed in 44(78.6%), follicular carcinomas in 7(12.5%) and 5(8.9%) with medullary and anaplastic carcinomas. 12(21.4%) were males and 44(78.6%) were females. 20(35.7%) were less than 40years, 29(51.8%) were between 40 to 59years and 7(12.5%) were above 59years. Cross tabulation of Type of carcinoma with Gender revealed likelihood ratio of 6.908, Significance p = 0.032. Biochemically 12(21.4%) were hyperthyroid. Out of them 5(41.7%) had primary hyperthyroidism and 7(58.3%) had secondary hyperthyroidism. Mean age of euthyroid patients was 43.77years (SD 10.574) and hyperthyroid patients was 53.25years(SD 16.057). Independent Samples Test t is -2.446, two tailed significance p =0.018. When cross tabulate thyroid status with Age group Likelihood Ratio was 9.640, Significance p = 0.008. Conclusion: Papillary carcinoma is seen more among females. Among the patients with thyroid carcinomas, those with biochemically proven hyperthyroidism were more among the older age group than those who were euthyroid. Hence careful evaluation of elderly hyperthyroid patients to select the most suitable therapeutic approach is justified.Keywords: age, hyperthyroidism, thyroid malignancy, thyroid status
Procedia PDF Downloads 4033212 Patented Free-Space Optical System for Auto Aligned Optical Beam Allowing to Compensate Mechanical Misalignments
Authors: Aurelien Boutin
Abstract:
In optical systems such as Variable Optical Delay Lines, where a collimated beam has to go back and forth, corner cubes are used in order to keep the reflected beam parallel to the incoming beam. However, the reflected beam can be laterally shifted, which will lead to losses. In this paper, we report on a patented optical design that allows keeping the reflected beam with the exact same position and direction whatever the displacement of the corner cube leading to zero losses. After explaining how the optical design works and theoretically allows to compensate for any defects in the translation of the corner cube, we will present the results of experimental comparisons between a standard layout (i.e., only corner cubes) and our optical layout. To compare both optical layouts, we used a fiber-to-fiber coupling setup. It consists of a couple of lights from one fiber to the other, thanks to two lenses. The ensemble [fiber+lense] is fixed and called a collimator so that the light is coupled from one collimator to another. Each collimator was precisely made in order to have a precise working distance. In the experiment, we measured and compared the Insertion Losses (IL) variations between both collimators with the distance between them (i.e., natural Gaussian beam coupling losses) and between both collimators in the different optical layouts tested, with the same optical length propagation. We will show that the IL variations of our setup are less than 0.05dB with respect to the IL variations of collimators alone.Keywords: free-space optics, variable optical delay lines, optical cavity, auto-alignment
Procedia PDF Downloads 993211 Teacher-Child Interactions within Learning Contexts in Prekindergarten
Authors: Angélique Laurent, Marie-Josée Letarte, Jean-Pascal Lemelin, Marie-France Morin
Abstract:
This study aims at exploring teacher-child interactions within learning contexts in public prekindergartens of the province of Québec (Canada). It is based on previous research showing that teacher-child interactions in preschools have direct and determining effects on the quality of early childhood education and could directly or indirectly influence child development. However, throughout a typical preschool day, children experience different learning contexts to promote their learning opportunities. Depending on these specific contexts, teacher-child interactions could vary, for example, between free play and shared book reading. Indeed, some studies have found that teacher-directed or child-directed contexts might lead to significant variations in teacher-child interactions. This study drew upon both the bioecological and the Teaching Through Interactions frameworks. It was conducted through a descriptive and correlational design. Fifteen teachers were recruited to participate in the study. At Time 1 in October, they completed a diary to report the learning contexts they proposed in their classroom during a typical week. At Time 2, seven months later (May), they were videotaped three times in the morning (two weeks’ time between each recording) during a typical morning class. The quality of teacher-child interactions was then coded with the Classroom Assessment Scoring System (CLASS) through the contexts identified. This tool measures three main domains of interactions: emotional support, classroom organization, and instruction support, and10 dimensions scored on a scale from 1 (low quality) to 7 (high quality). Based on the teachers’ reports, five learning contexts were identified: 1) shared book reading, 2) free play, 3) morning meeting, 4) teacher-directed activity (such as craft), and 5) snack. Based on preliminary statistical analyses, little variation was observed within the learning contexts for each domain of the CLASS. However, the instructional support domain showed lower scores during specific learning contexts, specifically free play and teacher-directed activity. Practical implications for how preschool teachers could foster specific domains of interactions depending on learning contexts to enhance children’s social and academic development will be discussed.Keywords: teacher practices, teacher-child interactions, preschool education, learning contexts, child development
Procedia PDF Downloads 1073210 Optimization of Catalyst Parameters to Get Chlorine Free Bimetallic Catalysts
Authors: Noreen Sajjad Ghulam Hussain
Abstract:
Catalysts are prepared by simple physical mixing and thermal treatment of support and metal acetate precursors.The effect of metal ratio and metal loading to produce highly active catalyst for the oxidation of benzyl alcohol are studied.Keywords: catalyst, acetates, benzyl alcohols
Procedia PDF Downloads 4363209 Secondary Prisonization and Mental Health: A Comparative Study with Elderly Parents of Prisoners Incarcerated in Remote Jails
Authors: Luixa Reizabal, Inaki Garcia, Eneko Sansinenea, Ainize Sarrionandia, Karmele Lopez De Ipina, Elsa Fernandez
Abstract:
Although the effects of incarceration in prisons close to prisoners’ and their families’ residences have been studied, little is known about the effects of remote incarceration. The present study shows the impact of secondary prisonization on mental health of elderly parents of Basque prisoners who are incarcerated in prisons located far away from prisoners’ and their families’ residences. Secondary prisonization refers to the effects that imprisonment of a family member has on relatives. In the study, psychological effects are analyzed by means of comparative methodology. Specifically, levels of psychopathology (depression, anxiety, and stress) and positive mental health (psychological, social, and emotional well-being) are studied in a sample of parents over 65 years old of prisoners incarcerated in prisons located a long distance away (concretely, some of them in a distance of less than 400 km, while others farther than 400 km) from the Basque Country. The dataset consists of data collected through a questionnaire and from a spontaneous speech recording. The statistical and automatic analyses show that levels of psychopathology and positive mental health of elderly parents of prisoners incarcerated in remote jails are affected by the incarceration of their sons or daughters. Concretely, these parents show higher levels of depression, anxiety, and stress and lower levels of emotional (but not psychological or social) wellbeing than parents with no imprisoned daughters or sons. These findings suggest that parents with imprisoned sons or daughters suffer the impact of secondary prisonization on their mental health. When comparing parents with sons or daughters incarcerated within 400 kilometers from home and parents whose sons or daughters are incarcerated farther than 400 kilometers from home, the latter present higher levels of psychopathology, but also higher levels of positive mental health (although the difference between the two groups is not statistically significant). These findings might be explained by resilience. In fact, in traumatic situations, people can develop a force to cope with the situation, and even present a posttraumatic growth. Bearing in mind all these findings, it could be concluded that secondary prisonization implies for elderly parents with sons or daughters incarcerated in remote jails suffering and, in consequence, that changes in the penitentiary policy applied to Basque prisoners are required in order to finish this suffering.Keywords: automatic spontaneous speech analysis, elderly parents, machine learning, positive mental health, psychopathology, remote incarceration, secondary prisonization
Procedia PDF Downloads 2873208 Effect of Radiation on Magnetohydrodynamic Two Phase Stenosed Arterial Blood Flow with Heat and Mass Transfer
Authors: Bhavya Tripathi, Bhupendra Kumar Sharma
Abstract:
In blood, the concentration of red blood cell varies with the arterial diameter. In the case of narrow arteries, red blood cells concentrate around the center of the artery and there exists a cell-free plasma layer near the arterial wall due to Fahraeus-Lindqvist effect. Due to non- uniformity of the fluid in the narrow arteries, it is preferable to consider the two-phase model of the blood flow. In the present article, coupled nonlinear differential equations have been developed for momentum, energy and concentration of two phase model of the blood flow assuming the Newtonian fluid in both central core and cell free plasma layer and the exact solutions have been found for the problem. For having an adequate insight into the stenosed arterial two-phase blood flow, major components of the flow as flow resistance, total flow rate, and wall shear stress have been estimated for different values of magnetic and radiation parameter. Results show that the increase in the effects of magnetic field decreases the velocity of both cores as well as plasma regions. This result can be helpful to control the blood flow in narrow arteries during surgical process. Temperature of core as well plasma regions decrease as value of radiation parameter increases. The present result is implemented in the form of radiation therapy which is very helpful for cancer patients.Keywords: two phase blood flow, radiation, magnetohydrodynamics (MHD), stenosis
Procedia PDF Downloads 2053207 The Influence of Temperature on Apigenin Extraction from Chamomile (Matricaria recutita) by Superheated Water
Authors: J. Švarc-Gajić, A. Cvetanović
Abstract:
Apigenin is a flavone synthetized by many plants and quite abundant in chamomile (Matricaria recutita) in its free form and in the form of its glucoside and different acylated forms. Many beneficial health effects have been attributed to apigenin, such as chemo-preventive, anxiolytic, anti-inflammatory, antioxidant and antispasmodic. It is reported that free apigenin is much more bioactive in comparison to its bound forms. Subcritical water offers numerous advantages in comparison to conventional extraction techniques, such as good selectivity, low price and safety. Superheated water exhibits high hydrolytical potential which must be carefully balanced when using this solvent for the extraction of bioactive molecules. Moderate hydrolytical potential can be exploited to liberate apigenin from its bound forms, thus increasing biological potential of obtained extracts. The polarity of pressurized water and its hydrolytical potential are highly dependent on the temperature. In this research chamomile ligulate flowers were extracted by pressurized hot water in home-made subcritical water extractor in conditions of convective mass transfer. The influence of the extraction temperature was investigated at 30 bars. Extraction yields of total phenols, total flavonoids and apigenin depending on the operational temperature were calculated based on spectrometric assays. Optimal extraction temperature for maximum yields of total phenols and flavonoids showed to be 160°C, whereas apigenin yield was the highest at 120°C.Keywords: superheated water, temperature, chamomile, apigenin
Procedia PDF Downloads 4813206 The Speech Act Responses of Students on the Teacher’s Request in the EFL Classroom
Authors: Agis Andriani
Abstract:
To create an effective teaching condition, the teacher requests the students as the instruction to guide the them interactively in the learning activities in the classroom. This study involves 160 Indonesian students who study English in the university, as participants in the discourse completion test, and ten of them are interviewed. The result shows that when the students response the teacher’s request, it realizes assertives, directives, commisives, expressives, and declaratives. These indicate that the students are active, motivated, and responsive in the learning process, although in the certain condition these responses are to prevent their faces from the shyness of their silence in interaction. Therefore, it needs the teacher’s creativity to give the conducive atmosphere in order to support the students’ participation in learning English.Keywords: discourse completion test, effective teaching, request, teacher’s creativity
Procedia PDF Downloads 4373205 Earnings vs Cash Flows: The Valuation Perspective
Authors: Megha Agarwal
Abstract:
The research paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as price/earnings ratio, price/book value ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow Method (FCFM) all provide different estimates of valuation of the Indian giant corporate Reliance India Limited (RIL). An ex-post analysis of published accounting and financial data for four financial years from 2008-09 to 2011-12 has been conducted. A comparison of these valuation estimates with the actual market capitalization of the company shows that the complex accounting based model AOIGM provides closest forecasts. These different estimates may be derived due to inconsistencies in discount rate, growth rates and the other forecasted variables. Although inputs for earnings based models may be available to the investor and analysts through published statements, precise estimation of free cash flows may be better undertaken by the internal management. The estimation of value from more stable parameters as residual operating income and RNOA could be considered superior to the valuations from more volatile return on equity.Keywords: earnings, cash flows, valuation, Residual Earnings Model (REM)
Procedia PDF Downloads 375