Search results for: spot price volatility

Authors: Christoph Köster

Abstract:

Supplier selection is one of the key challenges in supply chain management and can be considered a multi-criteria decision-making (MCDM) problem. In the 1960s, it evolved from considering only economic criteria, such as price, quality, and performance, to including environmental and social criteria nowadays. Although receiving considerable attention from scholars and practitioners over the past decades, existing research has not considered governance criteria so far. This is, however, surprising, as ESG (environmental, social, and governance) criteria have gained considerable attention. In order to complement ESG criteria in the supplier selection process, this study investigates German DAX and MDAX companies and evaluates the impact of governance criteria along their supplier selection process. Moreover, it proposes a set of criteria for the respective process steps. Specifically, eleven criteria for the first process step and five criteria for the second process step are identified. This paper contributes to a better understanding of the supplier selection process by elucidating the relevance of governance criteria in the supplier selection process and providing a set of empirically developed governance criteria. These results can be applied by practitioners to complement the criteria set in the supplier selection process and thus balance economic, environmental, social, and governance targets.

Keywords: ESG, governance, sustainable supplier selection, sustainability

Procedia PDF Downloads 120

Authors: Mustopa, Setyawan Wahyu Pradana

Abstract:

This study aims to determine the application of animal welfare in Madura cow racing competition at Sumenep district, Madura Island. This study conducted by survey and discussion methods with 3 Madura cow owners in the competition. The animal welfare is going to be proved by observing the condition of the cage, the cleanliness of it, feeding and water, the health of the cow, also owner treatments for their Madura cow that will be served as a racer. Observations made using stable conditions ACRES form with assessment scores ranged from 1 = very poor, 2 = poor, 3 = regular, 4 = good and 5 = very good, animal welfare conditions seen by conducting observations and interviews with Madura cow owners. The result shows that the Madura cow competition has fulfilled the criteria of animal welfare application. Application of animal welfare principle by the owner of Madura cow terms of ACRES (Animal Concerns Research and Education Society) below standard, the average score obtained was 2.06, which is mean in a poor ratings. Besides considering the animal welfare application, Madura cow owners also do special treatments for their Madura cow with purpose to produce racers that are healthy and fast. Therefore, if the cow wins in Madura cow racing competition, it will purchase a high-value price.

Keywords: animal welfare, competition, Madura cow, racing

Procedia PDF Downloads 271

Authors: Mohamed Aboelghar, Ayman Abou Hadid, Usama Albehairy, Asmaa Khater

Abstract:

Sustainable agricultural development of the desert areas of Egypt under the pressure of irrigation water scarcity is a significant national challenge. Existing water harvesting techniques on the northwest coast of Egypt do not ensure the optimal use of rainfall for agricultural purposes. Basin-scale hydrology potentialities were studied to investigate how available annual rainfall could be used to increase agricultural production. All data related to agricultural production included in the form of geospatial layers. Thematic classification of Sentinal-2 imagery was carried out to produce the land cover and crop maps following the (FAO) system of land cover classification. Contour lines and spot height points were used to create a digital elevation model (DEM). Then, DEM was used to delineate basins, sub-basins, and water outlet points using the Soil and Water Assessment Tool (Arc SWAT). Main soil units of the study area identified from Land Master Plan maps. Climatic data collected from existing official sources. The amount of precipitation, surface water runoff, potential, and actual evapotranspiration for the years (2004 to 2017) shown as results of (Arc SWAT). The land cover map showed that the two tree crops (olive and fig) cover 195.8 km2 when herbaceous crops (barley and wheat) cover 154 km2. The maximum elevation was 250 meters above sea level when the lowest one was 3 meters below sea level. The study area receives a massive variable amount of precipitation; however, water harvesting methods are inappropriate to store water for purposes.

Keywords: water catchements, remote sensing, GIS, sustainable agricultural development

Procedia PDF Downloads 117

Authors: Mohammad Ebrahim Arbabian

Abstract:

This paper investigates the impact of 3D printing, also known as additive manufacturing, on a multi-item supply chain comprising a manufacturer and retailer. Operating under a wholesale-price contract and catering to stochastic customer demand, this study delves into the largely unexplored realm of how 3D printing technology reshapes supply chain dynamics. A distinguishing aspect of 3D printing is its versatility in producing various product types, yet its slower production pace compared to traditional methods poses a challenge. We analyze the trade-off between 3D printing's limited capacity and its enhancement of production flexibility. By delineating the economic circumstances favoring 3D printing adoption by the manufacturer, we establish the Stackelberg equilibrium in the retailer-manufacturer game. Additionally, we determine optimal order quantities for the retailer considering 3D printing as an option for the manufacturer, ascertain optimal wholesale prices in the presence of 3D printing, and compute optimal profits for both parties involved in the supply chain.

Keywords: additive manufacturing, supply chain management, contract theory, Stackelberg game, optimization

Procedia PDF Downloads 63

Authors: Humaira Tariq

Abstract:

An issue faced by a majority of immigrants, especially coming from the third world countries, is that of racism. The natives find it very hard to accept people of another race, origin and background amongst them. History is replete with incidents where immigrants have paid a heavy price for being the odd ones out. Being an integral part of the immigrant experience, this issue of racism, is an important theme in most of diaspora related fiction. The present paper will endeavor to expose and explore Nadeem Aslam’s handling of this theme in his novel, 'Maps for Lost Lovers'. The researcher has found Aslam to take an objective stance on this issue, as he shows that where the West is unwilling to accept the immigrants in their midst, there, majority of the immigrants, are also responsible for alienating themselves in the new environment. He shows a kind of persecution mania haunting the immigrants from the third world countries where they feel the condition for being much worse than it actually is. The paper presents a critical view of the handling of racism in Aslam’s novel where he is found to criticize not only the English for their mistreatment of Pakistani immigrants, but is also disapproving of the judgmental attitude of the immigrants.

Keywords: english, immigrants, natives, pakistani, racism

Procedia PDF Downloads 409

Authors: Bumjo Kim, Hyun Jin Kim, Joon Ha Kim

Abstract:

The separate sewer system is that collects the wastewater as a sewer pipe and rainfall as a stormwater pipe separately, and then sewage is treated in the wastewater treatment plant, the stormwater is discharged to rivers or lakes through stormwater drainage pipes. Unfortunately, even for separate sewer systems, it is not possible to prevent Rainfall Driven Inflow/Infiltration(RDII) completely to the sewer pipe. Even if the sewerage line is renovated, there is an ineluctable RDII due to the combined sewer system in the house or the difficulty of sewage maintenance in private areas. The basic statistical analysis was performed using environmental data including rainfall, sewage, water qualities and groundwater level in the strict of Gwangju in ​South Korea. During rainfall in the target area, RDII showed an increased rate of 13.4 ~ 53.0% compared to that of a clear day and showed a rapid hydrograph response of 0.3 ~ 3.0 hr. As a result of water quality analysis, BOD5 concentration decreased by 17.3 % and salinity concentration decreased by 8.8 % at the representative spot in the project area compared to the sunny day during rainfall. In contrast to the seasonal fluctuation range of 0.38 m ~ 0.55 m in groundwater in Gwangju area and 0.58 m ~ 0.78 m in monthly fluctuation range, while the difference between groundwater level and the depth of sewer pipe laying was 2.70 m on average, which is larger than the range of fluctuation. Comprehensively, it can be concluded that the increasing of flowrate at sewer line is due to not infiltration water caused by groundwater level rise, construction failure, cracking due to joint failure or conduit deterioration, rainfall was directly inflowed into the sewer line rapidly. Acknowledgements: This work was supported by the 'Climate Technology Development and Application' research project (#K07731) through a grant provided by GIST in 2017.

Keywords: ground water, rainfall, rainfall driven inflow/infiltration, separate sewer system

Procedia PDF Downloads 161

Authors: Jonathan Olusegun Famoroti, Mathew Ekundayo Rotimi, Mishelle Doorasamy

Abstract:

This study offers an empirical investigation into some selected macroeconomic drivers of the monetary policy rate in member countries of the West African Monetary Zone (WAMZ), considering both internal and external variables. We employed Autoregressive Distributed Lag (ARDL) to carry out the investigation between monetary policy and some macroeconomic variables in both the long-run and short-run relationship. The results suggest that the drivers of the policy rate in this zone, in the long run, include, among others, global oil price, exchange rate, inflation rate, and gross domestic product, while in the short run, federal fund rate, trade openness, exchange rate, inflation rate, and gross domestic product are core determinants of the policy rate. Therefore, in order to ensure long-run stability in the policy rate among the members’ states, these drivers should be given closer consideration so that the trajectory for effective structure can be designed and fused into the economic structure and policy frameworks accordingly.

Keywords: monetary policy rate, macroeconomic variables, WAMZ, ARDL

Procedia PDF Downloads 66

Authors: Salah Alrabeei, Mohammad Yousuf

Abstract:

The goal of option pricing theory is to help the investors to manage their money, enhance returns and control their financial future by theoretically valuing their options. However, most of the option pricing models have no analytical solution. Furthermore, not all the numerical methods are efficient to solve these models because they have nonsmoothing payoffs or discontinuous derivatives at the exercise price. In this paper, we solve the American option under jump diffusion models by using efficient time-dependent numerical methods. several techniques are integrated to reduced the overcome the computational complexity. Fast Fourier Transform (FFT) algorithm is used as a matrix-vector multiplication solver, which reduces the complexity from O(M2) into O(M logM). Partial fraction decomposition technique is applied to rational approximation schemes to overcome the complexity of inverting polynomial of matrices. The proposed method is easy to implement on serial or parallel versions. Numerical results are presented to prove the accuracy and efficiency of the proposed method.

Keywords: integral differential equations, jump–diffusion model, American options, rational approximation

Procedia PDF Downloads 123

Authors: Egboja Simon, Agi Sunday

Abstract:

One of the most important key to success of a nation is to ensure steady development and national economic self - sufficiency and independence. There have been challenges in food security related issues in many developing nations. The problems may be as a result of rise in food price across the globe diminishing global food reserve and erratic weather patterns among other factors. In Nigeria several Agricultural politics have been formulated to curtail food security challenges. Unfortunately, these policies have not yielded the deserved results of increase food production. This paper is designed to identify the various challenges confronting food security in Nigeria with a view of highlighting the reasons that accounting for these problems. This paper also suggests ways of addressing these challenges and concludes by saying that subsidization of the process of farm inputs like fertilizer, improved seed and agro chemicals education of the farmers on modern methods of farming through extension services, improvisation of villages based food storage mechanism and provision of infrastructural facilities in rural areas to facilitate the preservation and easy evacuation of farm produce should be encouraged.

Keywords: governance, security, food, development, conflict, hunger, society, sustainability

Procedia PDF Downloads 331

Authors: Hamed Homaei, Iraj Mahdavi, Ali Tajdin

Abstract:

One of the main concerns of miners is to increase the quality level of their products because the mining metals price depends on their quality level; however, increasing the quality level of these products has different costs at different levels of the supply chain. These costs usually increase after extractor level. This paper studies the coordination issue of a decentralized three-level supply chain with one supplier (extractor), one mineral processor and one manufacturer in which the increasing product quality level cost at the processor level is higher than the supplier and at the level of the manufacturer is more than the processor. We identify the optimal product quality level for each supply chain member by designing a revenue sharing contract. Finally, numerical examples show that the designed contract not only increases the final product quality level but also provides a win-win condition for all supply chain members and increases the whole supply chain profit.

Keywords: three-stage supply chain, product quality improvement, channel coordination, revenue sharing

Procedia PDF Downloads 183

Authors: Sylvain Caillol

Abstract:

Uncertainty in terms of price and availability of petroleum, in addition to global political and institutional tendencies toward the principles of sustainable development, urge chemical industry to a sustainable chemistry and particularly the use of renewable resources in order to synthesize biobased chemicals and products. We propose a platform approach for the synthesis of various building blocks from cardanol in one or two-steps syntheses. Cardanol, which is a natural phenol, is issued from Cashew Nutshell Liquid (CNSL), a non-edible renewable resource, co-produced from cashew industry in large commercial volumes. Cardanol is particularly interesting to replace fossil aromatic groups in polymers and materials. Our team studied various routes for the synthesis of cardanol-derived biobased building blocks used after that in polymer syntheses. For example, we used phenolation to dimerize/oligomerize cardanol to propose increase functionality of cardanol. Thio-ene was used to synthesize new reactive amines. Epoxidation and (meth)acrylation were also used to insert oxirane or (meth)acrylate groups in order to synthesize polymers and materials.

Keywords: cardanol, cashew nutshell liquid, epoxy, vinyl ester, latex, emulsion

Procedia PDF Downloads 176

Authors: Rajkishore Nayak, Tarun Panwar, Majo George

Abstract:

The study focuses on investigating the factors that influence the growth of fashion and textile manufacturing in the Sub-Saharan Africa (SSA) countries. This paper endeavours to identify, analyse and evaluate the critical factors associated with the growth of fashion and textile manufacturing in SSA countries. This research has done a Strength, Weakness, Opportunity, and Threat (SWOT) analysis based on the available literature and the knowledge of authors in garment manufacturing and export. It was found that the SSA countries have shown little growth in fashion and textile manufacturing and export from the starting of the year 2000. Unlike the developing countries such as Vietnam and Bangladesh, the total export to the US, the EU and other parts of the world has declined. On the other hand, the total supply of fashion and textiles to the domestic market has been in rise. However, the local communities still need to rely on other countries to meet their demand. Availability of cheaper imported clothes from other countries such as Bangladesh, China and Vietnam have made it difficult for the local manufacturers to produce at a cheaper price.

Keywords: Sub-Saharan Africa, developing countries, apparel industry, fashion and textile, sustainable fashion

Procedia PDF Downloads 123

Authors: Pongsawee Supanonth

Abstract:

This study aims to investigate the consumer behavior and marketing mixed factor affect on consumer decision making for independent movies presented in Lido cinema. The research method will use quantitative research, data was collected by questionnaires distributed to the audience in the Lido cinema for 400 sample by accidental sampling technique. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic including independent t-test for hypothesis testing. The results showed that marketing mixed factors affecting consumer decision-making for Independent movies presented in Lido cinema by gender as different as less than the 0.05 significance level, it was found that the kind of movie ,quality of theater ,price of ticket, facility of watching movies, staff services and promotion of Lido cinema respectively had a vital influence on their attention and response which makes the advertisement more attractive is in harmony with the research hypotheses also.

Keywords: consumer behavior, marketing mixed factor, resonance, consumer decision making, Lido cinema

Procedia PDF Downloads 312

Authors: Pius Agbebi Alaba

Abstract:

The study emphasized on the effects of contemporary and prospect trends on the development of Hospitality and Tourism in Nigeria. Specifically, the study examined globalization, safety and security, diversity, service, technology, demographic changes and price–value as contemporary trends while prospect trends such as green and Eco-lodgings, Development of mega hotels, Boutique hotels, Intelligent hotels with advanced technology using the guest’s virtual fingerprint in order to perform all the operations, increasing employee salaries in order retain the existing Staff, More emphasis on the internet and technology, Guests’ virtual and physical social network were equally examined. The methodology for the study involved review of existing related study, books, journal and internet. The findings emanated from the exercise showed clearly that the impact of both trends on the development of Hospitality and Tourism in Nigeria would bring about rapid positive transformation of her socio-economic, political and cultural environment. The implication of the study is that it will prepare both private and corporate individuals in hospitality and tourism business for the challenges inherent in both trends.

Keywords: hospitality and tourism, Nigeria's centenary, trends, implications

Procedia PDF Downloads 339

Authors: Flordeliza L. Mercado, Teresito G. Aguinaldo, Helen F. Gavino, Victorino T. Taylan

Abstract:

Most fruits and vegetables are available in large quantities during peak season which are oftentimes marketed at low price and left to rot or fed to farm animals. The lack of efficient storage facilities, and the additional cost and unavailability of small machinery for food processing, results to low price and wastage. Incidentally, processed fresh fruits and vegetables are gaining importance nowadays and health conscious people are also into ‘juicing’. One way to reduce wastage and ensure an all-season availability of crop juices at reasonable costs is to develop equipment for effective extraction of juice. The study was conducted to design, fabricate and evaluate a multi-juice extractor using locally available materials, making it relatively cheaper and affordable for medium-scale enterprises. The study was also conducted to formulate juice blends using extracted juices and calamansi juice at different blending percentage, and evaluate its chemical properties and sensory attributes. Furthermore, the chemical properties of extracted meals were evaluated for future applications. The multi-juice extractor has an overall dimension of 963mm x 300mm x 995mm, a gross weight of 82kg and 5 major components namely; feeding hopper, extracting chamber, juice and meal outlet, transmission assembly, and frame. The machine performance was evaluated based on juice recovery, extraction efficiency, extraction rate, extraction recovery, and extraction loss considering type of crop as apple and carrot with three replications each and was analyzed using T-test. The formulated juice blends were subjected to sensory evaluation and data gathered were analyzed using Analysis of Variance appropriate for Complete Randomized Design. Results showed that the machine’s juice recovery (73.39%), extraction rate (16.40li/hr), and extraction efficiency (88.11%) for apple were significantly higher than for carrot while extraction recovery (99.88%) was higher for apple than for carrot. Extraction loss (0.12%) was lower for apple than for carrot, but was not significantly affected by crop. Based on adding percentage mark-up on extraction cost (Php 2.75/kg), the breakeven weight and payback period for a 35% mark-up is 4,710.69kg and 1.22 years, respectively and for a 50% mark-up, the breakeven weight is 3,492.41kg and the payback period is 0.86 year (10.32 months). Results on the sensory evaluation of juice blends showed that the type of juice significantly influenced all the sensory parameters while the blending percentage including their respective interaction, had no significant effect on all sensory parameters, making the apple-calamansi juice blend more preferred than the carrot-calamansi juice blend in terms of all the sensory parameter. The machine’s performance is higher for apple than for carrot and the cost analysis on the use of the machine revealed that it is financially viable with a payback period of 1.22 years (35% mark-up) and 0.86 year (50% mark-up) for machine cost, generating an income of Php 23,961.60 and Php 34,444.80 per year using 35% and 50% mark-up, respectively. The juice blends were of good qualities based on the values obtained in the chemical analysis and the extracted meal could also be used to produce another product based on the values obtained from proximate analysis.

Keywords: food processing, fruits and vegetables, juice extraction, multi-juice extractor

Procedia PDF Downloads 325

Authors: Umit Cali

Abstract:

The integration of intermittent energy sources like wind farms into the electricity grid has become an important challenge for the utilization and control of electric power systems, because of the fluctuating behaviour of wind power generation. Wind power predictions improve the economic and technical integration of large amounts of wind energy into the existing electricity grid. Trading, balancing, grid operation, controllability and safety issues increase the importance of predicting power output from wind power operators. Therefore, wind power forecasting systems have to be integrated into the monitoring and control systems of the transmission system operator (TSO) and wind farm operators/traders. The wind forecasts are relatively precise for the time period of only a few hours, and, therefore, relevant with regard to Spot and Intraday markets. In this work predictive data mining techniques are applied to identify a statistical and neural network model or set of models that can be used to predict wind power output of large onshore and offshore wind farms. These advanced data analytic methods helps us to amalgamate the information in very large meteorological, oceanographic and SCADA data sets into useful information and manageable systems. Accurate wind power forecasts are beneficial for wind plant operators, utility operators, and utility customers. An accurate forecast allows grid operators to schedule economically efficient generation to meet the demand of electrical customers. This study is also dedicated to an in-depth consideration of issues such as the comparison of day ahead and the short-term wind power forecasting results, determination of the accuracy of the wind power prediction and the evaluation of the energy economic and technical benefits of wind power forecasting.

Keywords: renewable energy sources, wind power, forecasting, data mining, big data, artificial intelligence, energy economics, power trading, power grids

Procedia PDF Downloads 519

Authors: Yoke-Mui Lim, Yahaya Ahmad

Abstract:

Conservation works in Malaysia that is procured by public organisation usually follow the traditional approach where the works are tendered based on Bills of Quantities (BQ). One of the purposes of tendering is to enable the selection of a competent contractor that offers a competitive price. While competency of the contractors are assessed by their technical knowledge, experience and track records, the assessment of pricing will be dependent on the tender amount. However, the issue currently faced by the conservation works sector is the difficulty in assessing the competitiveness and reasonableness of the tender amount due to the high variance between the tenders amount. Thus, this paper discusses the factors that cause difficulty to the tenderers in pricing competitively in a bidding exercise for conservation tenders. Data on tendering is collected from interviews with conservation works contractors to gain in-depth understanding of the barriers faced in pricing tenders of conservation works. Findings from the study lent support to the contention that the variance of tender amount is very high amongst tenderers. The factors identified in the survey are the format of BQ, hidden works, experience and labour and material costs.

Keywords: building conservation, Malaysia, bill of quantities, tender

Procedia PDF Downloads 390

Authors: Chimezie P. Nnanwa, Thomas C. Urama, Patrick O. Ezepue

Abstract:

In this paper we use Random Matrix Theory to analyze the eigen-structure of the empirical correlations of 82 stocks which are consistently traded in the Nigerian Stock Exchange (NSE) over a 4-year study period 3 August 2009 to 26 August 2013. We apply the Marchenko-Pastur distribution of eigenvalues of a purely random matrix to investigate the presence of investment-pertinent information contained in the empirical correlation matrix of the selected stocks. We use hypothesised standard normal distribution of eigenvector components from RMT to assess deviations of the empirical eigenvectors to this distribution for different eigenvalues. We also use the Inverse Participation Ratio to measure the deviation of eigenvectors of the empirical correlation matrix from RMT results. These preliminary results on the dynamics of asset price correlations in the NSE are important for improving risk-return trade-offs associated with Markowitz’s portfolio optimization in the stock exchange, which is pursued in future work.

Keywords: correlation matrix, eigenvalue and eigenvector, inverse participation ratio, portfolio optimization, random matrix theory

Procedia PDF Downloads 344

Authors: Lori W. Gordon, Karen A. Jones

Abstract:

Today’s high-speed data connectivity depends on a vast global network of infrastructure across space, air, land, and sea, with undersea cable infrastructure (UCI) serving as the primary means for intercontinental and ‘long-haul’ communications. The UCI landscape is changing and includes an increasing variety of state actors, such as the growing economies of Brazil, Russia, India, China, and South Africa. Non-state commercial actors, such as hyper-scale content providers including Google, Facebook, Microsoft, and Amazon, are also seeking to control their data and networks through significant investments in submarine cables. Active investments by both state and non-state actors will invariably influence the growth, geopolitics, and security of this sector. Beyond these hyper-scale content providers, there are new commercial satellite communication providers. These new players include traditional geosynchronous (GEO) satellites that offer broad coverage, high throughput GEO satellites offering high capacity with spot beam technology, low earth orbit (LEO) ‘mega constellations’ – global broadband services. And potential new entrants such as High Altitude Platforms (HAPS) offer low latency connectivity, LEO constellations offer high-speed optical mesh networks, i.e., ‘fiber in the sky.’ This paper focuses on understanding the role of submarine cables within the larger context of the global data commons, spanning space, terrestrial, air, and sea networks, including an analysis of national security policy and geopolitical implications. As network operators and commercial and government stakeholders plan for emerging technologies and architectures, hedging risks for future connectivity will ensure that our data backbone will be secure for years to come.

Keywords: communications, global, infrastructure, technology

Procedia PDF Downloads 89

Authors: A. Iqbal Banauaji, Muchamad Sholikun

Abstract:

Diabetes mellitus (DM) is a metabolism disorder that tends to increase its prevalence in the world, including in Indonesia. The development of DM type 2 can cause oxidative stress characterized by an imbalance between oxidants and antioxidants in the body Increased oxidative stress causes type 2 diabetes mellitus to require intake of exogenous antioxidants in large quantities to inhibit oxidative damage in the body. Bran can be defined as a functional food because it consists of 11.39% fiberand 28.7% antioxidants and the purple yam consists of anthocyanin which functions as an antioxidant. With abundant amount and low price, purple yam and bran can be used for analog rice as the effort to diversify functional food. The antioxidant’s activity of analog rice from purple yam and bran which is measured by using DPPH’s method is 12,963%. The rough fiber’s level on the analog rice from purple yam is 2.985%. The water amount of analog rice from purple yam and bran is 8.726%. Analog rice from purple yam and bran has the similar texture as the usual rice, tasted slightly sweet, light purple colored, and smelled like bran.

Keywords: antioxidant, analog rice, functional food, diabetes mellitus

Procedia PDF Downloads 193

Authors: Yimei Huang, Harvey Lui, Jianhua Zhao, Zhenguo Wu, Haishan Zeng

Abstract:

Conventional laser treatment of skin diseases and cosmetic surgery is based on the principle of one-photon absorption selective photothermolysis which relies strongly on the difference in the light absorption between the therapeutic target and its surrounding tissue. However, when the difference in one-photon absorption is not sufficient, collateral damage would occur due to indiscriminate and nonspecific tissue heating. To overcome this problem, we developed a spatially selective photothermolysis method based on multiphoton absorption in which the heat generation is restricted to the focal point of a tightly focused near-infrared femtosecond laser beam aligned with the target of interest. A multimodal optical microscope with co-registered reflectance confocal imaging (RCM), two-photon fluorescence imaging (TPF), and second harmonic generation imaging (SHG) capabilities was used to perform and monitor the spatially selective photothermolysis. Skin samples excised from the shaved backs of euthanized NODSCID mice were used in this study. Treatments were performed by focusing and scaning the laser beam in the dermis with a 50µm×50µm target area. Treatment power levels of 200 mW to 400 mW and modulated pulse trains of different duration and period were experimented. Different treatment parameters achieved different degrees of spatial confinement of tissue alterations as visualized by 3-D RCM/TPF/SHG imaging. At 200 mW power level, 0.1 s pulse train duration, 4.1 s pulse train period, the tissue damage was found to be restricted precisely to the 50µm×50µm×10µm volume, where the laser focus spot had scanned through. The overlying epidermis/dermis tissue and the underneath dermis tissue were intact although there was light passing through these regions.

Keywords: multiphoton absorption photothermolysis, reflectance confocal microscopy, second harmonic generation microscopy, spatially selective photothermolysis, two-photon fluorescence microscopy

Procedia PDF Downloads 515

Authors: Poonsuck Thatchaopas, Nik Kamariah Nik Mat, Nattakarn Eakuru

Abstract:

“One College One Product” OCOP business model is launched by the Vocational Education Commission to encourage college students to choose at least one product for business venture. However, the number of successful OCOP projects is still minimal. The objective of this paper is to identify the critical success factors needed to be a successful OCOP business entrepreneur. This study uses qualitative method by interviewing business partners of an OCOP business called Crispy Roti Krua Acheeva Brand (CRKAB). This project was initiated by three female alumni students of the CRKAB. The finding shows that the main critical success factors are self-confidence, creativity or innovativeness, knowledge, skills and perseverance. Additionally, they reiterated that the keys to business success are product quality, perceived price, promotion, branding, new packaging to increase sales and continuous developments. The results implies for a business SME to be successful, the company should have credible partners and effective marketing plan.

Keywords: new entrepreneurship student model, business incubator, food industry, Pattani Province, Thailand

Procedia PDF Downloads 379

Authors: Mojtaba Rezaei, Elham Heydari

Abstract:

This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

Procedia PDF Downloads 135

Authors: Muhammad Waseem Akram

Abstract:

The current study attempts to analyze the impact of business constraints on the growth potential and performance of Small and Medium Enterprises (SMEs) in the electrical industry of Pakistan. Primary data have been utilized for the study collected from the electrical industry cluster in Sargodha, Pakistan. OLS regression is used to assess the impact of business constraints on the performance of SMEs by controlling the effect of Technology Level, Innovations, and Firm Size. To associate business constraints with the growth potential of SMEs, the study utilized Tetrachoric Correlation and Logistic Regression. Findings reveal that all the business constraints negatively affect the performance of SMEs in the electrical industry except Political Instability. Results of Tetrachoric Correlation show that all the business constraints are negatively correlated with the growth potential of SMEs. Logistic Regression results show that Energy Constraint, Inflation and Price Instability, and Bad Business Practices, all three business constraints cause to reduce the probability of income growth in sample SMEs.

Keywords: SMEs, business constraints, performance, growth potential

Procedia PDF Downloads 170

Authors: Eunsup Daniel Shim, Jooh Lee

Abstract:

The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

Procedia PDF Downloads 524

Authors: Jamal Almatawah, Hamad Matar, Abdulsalam Altemeemi

Abstract:

The World Health Organization (WHO) has recognized environmental noise as harmful pollution that causes adverse psychosocial and physiologic effects on human health. The motor vehicle is considered to be one of the main source of noise pollution. It is a universal phenomenon, and it has grown to the point that it has become a major concern for both the public and policymakers. The aim of this paper, therefore, is to investigate the Traffic noise levels and the contributing factors that affect its level, such as traffic volume, heavy-vehicle Speed and other metrological factors in Ishbiliyah as a sample of a residential area in Kuwait. Three types of roads were selected in Ishbiliyah expressway, major arterial and collector street. The other source of noise that interferes the traffic noise has also been considered in this study. Traffic noise level is measured and analyzed using the Bruel & Kjaer outdoor sound level meter 2250-L (2250 Light). The Count-Cam2 Video Camera has been used to collect the peak and off-peak traffic count. Ambient Weather WM-5 Handheld Weather Station is used for metrological factors such as temperature, humidity and wind speed. Also, the spot speed was obtained using the radar speed: Decatur Genesis model GHD-KPH. All the measurement has been detected at the same time (simultaneously). The results showed that the traffic noise level is over the allowable limit on all types of roads. The average equivalent noise level (LAeq) for the Expressway, Major arterial and Collector Street was 74.3 dB(A), 70.47 dB(A) and 60.84 dB(A), respectively. In addition, a Positive Correlation coefficient between the traffic noise versus traffic volume and between traffic noise versus 85th percentile speed was obtained. However, there was no significant relation and Metrological factors. Abnormal vehicle noise due to poor maintenance or user-enhanced exhaust noise was found to be one of the highest factors that affected the overall traffic noise reading.

Keywords: traffic noise, residential area, pollution, vehicle noise

Procedia PDF Downloads 69

Authors: Sourabh Jain, Sukhvir Singh Jain, Gaurav V. Jain

Abstract:

Intelligent Transportation System (ITS) is the application of technology for developing a user–friendly transportation system for urban areas in developing countries. The goal of urban corridor management using ITS in road transport is to achieve improvements in mobility, safety, and the productivity of the transportation system within the available facilities through the integrated application of advanced monitoring, communications, computer, display, and control process technologies, both in the vehicle and on the road. This paper attempts to present the past studies regarding several ITS available that have been successfully deployed in urban corridors of India and abroad, and to know about the current scenario and the methodology considered for planning, design, and operation of Traffic Management Systems. This paper also presents the endeavor that was made to interpret and figure out the performance of the 27.4 Km long study corridor having eight intersections and four flyovers. The corridor consisting of 6 lanes as well as 8 lanes divided road network. Two categories of data were collected on February 2016 such as traffic data (traffic volume, spot speed, delay) and road characteristics data (no. of lanes, lane width, bus stops, mid-block sections, intersections, flyovers). The instruments used for collecting the data were video camera, radar gun, mobile GPS and stopwatch. From analysis, the performance interpretations incorporated were identification of peak hours and off peak hours, congestion and level of service (LOS) at mid blocks, delay followed by the plotting speed contours and recommending urban corridor management strategies. From the analysis, it is found that ITS based urban corridor management strategies will be useful to reduce congestion, fuel consumption and pollution so as to provide comfort and efficiency to the users. The paper presented urban corridor management strategies based on sensors incorporated in both vehicles and on the roads.

Keywords: congestion, ITS strategies, mobility, safety

Procedia PDF Downloads 444

Authors: Fatemeh Haghiralsadat, Mohadese Hashemi, Elham Akhoundi Kharanaghi, Mojgan Yazdani, Mahboobe Sharafodini, Omid Javani

Abstract:

Niosomes are colloidal particles formed from the self-assembly of non-ionic surfactants in aqueous medium resulting in closed bilayer structures. As a consequence of this hydrophilic and hydrophobic structure, niosomes have the capacity to entrap compounds of different solubilities. Niosomes are promising vehicle for drug delivery which protect sensitive drugs and improve the therapeutic index of drugs by restricting their action to target cells. Essential oils are complex mixtures of volatile compounds such as terpenoids, phenol-derived aromatic components that have been used for many biological properties including bactericidal, fungicidal, insecticidal, antioxidant, anti-tyrosinase and other medicinal properties. Encapsulation of essential oils in niosomes can be an attractive method to overcome their limitation such as volatility, easily decomposition by heat, humidity, light, or oxygen. Cuminum cyminum L. (Cumin) is an aromatic plant included in the Apiaceae family and is used to flavor foods, added to fragrances, and for medical preparations which is indigenous to Egypt, the Mediterranean region, Iran and India. The major components of the Cumin oil were reported as cuminaldehyde, γ -terpinene, β-pinene, p-cymene, p-mentha-1, 3-dien-7-al, and p-mentha-1, 4-dien-7-al which provide the antimicrobial and antioxidant activity. The aim of this work was to formulate Cumin essential oil-loaded niosomes to improve water solubility of natural product and evaluate its physico-chemical features and stability. Cumin oil was obtained through steam distillation using a clevenger-type apparatus and GC/MS was applied to identify the main components of the essential oil. Niosomes were prepared by using thin film hydration method and nanoparticles were characterized for particle size, dispersity index, zeta potential, encapsulation efficiency, in vitro release, and morphology.

Keywords: Cuminum cyminum L., Cumin, niosome, essential oil, encapsulation

Procedia PDF Downloads 516

Authors: Kayla Murray, Andrew Green, Gopi Paliyath, Keith Warriner

Abstract:

Introduction: It is now acknowledged that control of human pathogens associated with fresh produce requires an integrated approach of several interventions as opposed to relying on post-harvest washes to remove field acquired contamination. To this end, current research is directed towards identifying such interventions that can be applied at different points in leafy green processing. Purpose: In the following the efficacy of different gas phase treatments to decontaminate whole lettuce heads during pre-processing storage were evaluated. Methods: Whole Cos lettuce heads were spot inoculated with L. monocytogenes, E. coli O157:H7 or Salmonella spp. The inoculated lettuce heads were then placed in a treatment chamber and exposed to ozone, chlorine dioxide or hydroxyl radicals at different time periods under a range of relative humidity. Survivors of the treatments were enumerated along with sensory analysis performed on the treated lettuce. Results: Ozone gas reduced L. monocytogenes by 2-log10 after ten-minutes of exposure with Salmonella and E. coli O157:H7 being decreased by 0.66 and 0.56-log cfu respectively. Chlorine dioxide gas treatment reduced L. monocytogenes and Salmonella on lettuce heads by 4 log cfu but only supported a 0.8 log cfu reduction in E. coli O157:H7 numbers. In comparison, hydroxyl radicals supported a 2.9 – 4.8 log cfu reduction of model human pathogens inoculated onto lettuce heads but required extended exposure times and relative humidity < 0.8. Significance: From the gas phase sanitizers tested, chlorine dioxide and hydroxyl radicals are the most effective. The latter process holds most promise based on the ease of delivery, worker safety and preservation of lettuce sensory characteristics. Although expose times for hydroxyl radicles was relatively long (24h) this should not be considered a limitation given the intervention is applied in store rooms or in transport containers during transit.

Keywords: gas phase sanitizers, iceberg lettuce heads, leafy green processing

Procedia PDF Downloads 409

Authors: Arvind Dhingra, Tejinder Singh Saggu

Abstract:

As the energy demands rise and the pollution levels grow, it becomes imperative for us to save energy in all the fields in which it is used. The industrial sector is the major commercial energy consuming sector in India, where electrical energy is the most common and widely used type of energy. As the demand and price of energy are increasing day by day, therefore, the subject of energy conservation is a concern for most energy users particularly industry. Judicious use of energy becomes imperative for third world developing country being presence of energy crisis. This paper provides some measure for energy saving that can be commonly recommended for a rolling unit of steel industry. A case of hot rolling unit in JSL Stainless Ltd., Hisar for energy conservation is given. Overall improvement in energy consumption in light of the stated recommendation is illustrated along with the proposed utilization of the techniques and their applications. Energy conservation in conventional motor with replacement or use of star delta star converter, reduction in cable losses, replacement of filament of LED lamps, replacement of conventional transformer with cast resin dry type transformer and provision of energy management system for energy conservation and per unit production cost reduction are elaborated in this paper.

Keywords: energy audit, energy conservation, energy efficient motors

Procedia PDF Downloads 534