Search results for: financial stability and solvency margin

Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

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We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

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Authors: Min Fang, Jiaxi Yang

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Monetary policy could be less effective at stimulating investment during periods of elevated volatility than during normal times. In this paper, we argue that elevated volatility leads to a decrease in extensive margin investment incentive so that nominal stimulus generates less aggregate investment. To do this, we first empirically document that high volatility weakens firms’ investment responses to monetary stimulus. Such effects depend on the lumpiness nature of the firm-level investment. The findings are that the channel exists for all of the physical investment, innovation investment, and organization investment.

Keywords: investment, irreversibility, volatility, uncertainty, firm heterogeneity, monetary policy

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Authors: Sabrina Mortet

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The economic crisis, which struck the world economy in mid-2008, had an impact on migration in Europe, especially the employment situation of migrant workers. That’s why migrants tended to be the first to lose their jobs during the crisis, victims of the rule "last–in, first-out”. In the same context, the economic recession which affected the migration flows, immigration level has slowed while emigration has increased in some European countries. Since people go where jobs are, we will try to speak about the mobility of migrants after the crisis by focusing on return migration to see if migrants in the period of recession prefer going home or staying in the host country; and we will take Spain as a case of study, because it had attracted an extraordinarily high inflows of migration and it is one of the EU country which was hardly affected by the financial crisis.

Keywords: economic crisis, international migration, mobility, return migration, employement

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Authors: Sibani Bisoyi, Ute Zschieschang, Alexander Hoyer, Hagen Klauk

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Abstract— Organic thin-film transistors (TFTs) have great potential to be used for various applications such as flexible displays or sensors. For some of these applications, the TFTs must be able to withstand temperatures in excess of 100 °C, for example to permit the integration with devices or components that require high process temperatures, or to make it possible that the devices can be subjected to the standard sterilization protocols required for biomedical applications. In this work, we have investigated how the thermal stability of low-voltage small-molecule semiconductor dinaphtho[2,3-b:2’,3’-f]thieno[3,2-b]thiophene (DNTT) TFTs is affected by the encapsulation of the TFTs and by the ambient in which the thermal stress is performed. We also studied to which extent the thermal stability of the TFTs depends on the channel length. Some of the TFTs were encapsulated with a layer of vacuum-deposited Teflon, while others were left without encapsulation, and the thermal stress was performed either in nitrogen or in air. We found that the encapsulation with Teflon has virtually no effect on the thermal stability of our TFTs. In contrast, the ambient in which the thermal stress is conducted was found to have a measurable effect, but in a surprising way: When the thermal stress is carried out in nitrogen, the mobility drops to 70% of its initial value at a temperature of 160 °C and to close to zero at 170 °C, whereas when the stress is performed in air, the mobility remains at 75% of its initial value up to a temperature of 160 °C and at 60% up to 180 °C. To understand this behavior, we studied the effect of the thermal stress on the semiconductor thin-film morphology by scanning electron microscopy. While the DNTT films remain continuous and conducting when the heating is carried out in air, the semiconductor morphology undergoes a dramatic change, including the formation of large, thick crystals of DNTT and a complete loss of percolation, when the heating is conducted in nitrogen. We also found that when the TFTs are heated to a temperature of 200 °C in air, all TFTs with a channel length greater than 50 µm are destroyed, while TFTs with a channel length of less than 50 µm survive, whereas when the TFTs are heated to the same temperature (200 °C) in nitrogen, only the TFTs with a channel smaller than 8 µm survive. This result is also linked to the thermally induced changes in the semiconductor morphology.

Keywords: organic thin-film transistors, encapsulation, thermal stability, thin-film morphology

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Authors: Hudson Akewe

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In this study, we introduce a modified Jungck (Dual Jungck) iterative scheme and use the scheme to approximate the unique common fixed point of a pair of generalized contractive-like operators in a Banach space. The iterative scheme is also shown to be stable with respect to the maps (S,T). An example is taken to justify the convergence of the scheme. Our result is a generalization and improvement of several results in the literature on single map T.

Keywords: generalized contractive-like operators, modified Jungck iterative scheme, stability results, weakly compatible maps, unique common fixed point

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Authors: Minghua Chen, Rui Wang

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This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.

Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks

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Authors: Márcia Aparecida Teixeira

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Sports, in particular football, boosts considerably the financial market of a certain locality, be it city or even a country. The financial transactions involving this medium stand out from other existing businesses, such as small industries. Strategically, social networks are inserted in this sporting environment, in order to promote and attract new fans of this modality. The present study analyzes the use of social networks in Sports Marketing with a focus on football. For the object of this study, it was chosen a specific club, the Club Atlético Mineiro, a Brazilian club of great national notoriety. The social networks on focus will be: Facebook, Twitter, and Instagram. It will be analyzed the content and frequency of the posts, reception of the target public in relation to the content made available and its feedback.

Keywords: social network, sport, strategy, marketing

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Authors: Mir Hussain Nawaz, Lyudmila Nedyalkova, Haizhong Zhu, Wael M. Rabeh

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In this study, we aim to biochemically and structurally characterize the interactions of human HK2 with the mitochondria in addition to the role of its N-terminal domain in catalysis and stability of the full-length enzyme. Here, we solved the crystal structure of human HK2 in complex with glucose and glucose-6-phosphate (PDB code: 2NZT), where it is a homodimer with catalytically active N- and C-terminal domains linked by a seven-turn α-helix. Different from the inactive N-terminal domains of isozymes 1 and 3, the N- domain of HK2 not only capable to catalyze a reaction but it is responsible for the thermodynamic stabilizes of the full-length enzyme. Deletion of first α-helix of the N-domain that binds to the mitochondria altered the stability and catalytic activity of the full-length HK2. In addition, we found the linker helix between the N- and C-terminal domains to play an important role in controlling the catalytic activity of the N-terminal domain. HK2 is a major step in the regulation of glucose metabolism in cancer making it an ideal target for the development of new anticancer therapeutics. Characterizing the structural and molecular mechanisms of human HK2 and its role in cancer metabolism will accelerate the design and development of new cancer therapeutics that are safe and cancer specific.

Keywords: cancer metabolism, enzymology, drug discovery, protein stability

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Authors: Hossein Abbasi

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The stability is an important topic to plan and manage the energy in the microgrids as the same as the conventional power systems. The voltage and frequency stability is one of the most important issues recently studied in microgrids. The objectives of this paper are the modelling and designing of the components and optimal controllers for the voltage and frequency control of the AC/DC hybrid microgrid under the different disturbances. Since the PI controllers have the advantages of simple structure and easy implementation, so they are designed and modeled in this paper. The harmony search (HS) algorithm is used to optimize the controllers’ parameters. According to the achieved results, the PI controllers have a good performance in voltage and frequency control of the microgrid.

Keywords: frequency control, HS algorithm, microgrid, PI controller, voltage control

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Authors: Donato Vese

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According to the common interpretation, in a legal system, public powers are established by law. Exceptions are admitted in an emergency or particular relationship with public power. However, we currently agree that law allows public administration a margin of decision, even in the case of non-discretionary acts. Hence, the administrative decision not exclusively established by law becomes the rule in the ordinary state of things, non-only in state of exception. This paper aims to analyze and discuss different ideas on discretionary power on the Rule of Law and Rechtsstaat. Observing the legal literature in Europe and Nord and South America, discretionary power can be described as follow: it could be considered a margin that law accords to the executive power for political decisions or a choice between different interpretations of vague legal previsions. In essence, this explanation admits for the executive a decision not established by law or anyhow not exclusively established by law. This means that the discretionary power of public administration integrates the law. However, integrating law does not mean to decide according to the law, but it means to integrate law with a decision involving public power. Consequently, discretionary power is essentially free will. In this perspective, also the Rule of Law and the Rechtsstaat are notions explained differently. Recently, we can observe how the European notion of Rechtsstaat is founded on the formal validity of the law; therefore, for this notion, public authority’s decisions not regulated by law represent a problem. Thus, different systems of law integration have been proposed in legal literature, such as values, democracy, reasonableness, and so on. This paper aims to verify how, looking at those integration clauses from a logical viewpoint, integration based on the recourse to the legal system itself does not resolve the problem. The aforementioned integration clauses are legal rules that require hard work to explain the correct meaning of the law; in particular, they introduce dangerous criteria in favor of the political majority. A different notion of public power can be proposed. This notion includes two main features: (a) sovereignty belongs to persons and not the state, and (b) fundamental rights are not grounded but recognized by Constitutions. Hence, public power is a system based on fundamental rights. According to this approach, it can also be defined as the notion of public interest as concrete maximization of fundamental rights enjoyments. Like this, integration of the law, vague or subject to several interpretations, must be done by referring to the system of fundamental individual rights. We can think, for instance, to fundamental rights that are right in an objective view but not legal because not established by law.

Keywords: administrative discretion, free will, fundamental rights, public power, sovereignty

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Authors: Marianna I. Triantou, Petroula A. Tarantili

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In this research work, poly (acrylonitrile-butadiene-styrene)/polypropylene (ABS/PP) blends were processed by melt compounding in a twin-screw extruder. Upgrading of the thermal characteristics of the obtained materials was attempted by the incorporation of organically modified montmorillonite (OMMT), as well as, by the addition of two types of compatibilizers; polypropylene grafted with maleic anhydride (PP-g-MAH) and ABS grafted with maleic anhydride (ABS-g-MAH). The effect of the above treatments was investigated separately and in combination. Increasing the PP content in ABS matrix seems to increase the thermal stability of their blend and the glass transition temperature (Tg) of SAN phase of ABS. From the other part, the addition of ABS to PP promotes the formation of its β-phase, which is maximum at 30 wt% ABS concentration, and increases the crystallization temperature (Tc) of PP. In addition, it increases the crystallization rate of PP.The β-phase of PP in ABS/PP blends is reduced by the addition of compatibilizers or/and organoclay reinforcement. The incorporation of compatibilizers increases the thermal stability of PP and reduces its melting (ΔΗm) and crystallization (ΔΗc) enthalpies. Furthermore it decreases slightly the Tgs of PP and SAN phases of ABS/PP blends. Regarding the storage modulus of the ABS/PP blends, it presents a change in their behavior at about 10°C and return to their initial behavior at ~110°C. The incorporation of OMMT to no compatibilized and compatibilized ABS/PP blends enhances their storage modulus.

Keywords: acrylonitrile, butadiene, styrene terpolymer, compatibilizer, organoclay, polypropylene

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Authors: S. S. Dol, M. S. Chan, S. F. Wong, J. S. Lim

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Emulsion formation is unavoidable and can be detrimental to an oil field production. The presence of stable emulsions also reduces the quality of crude oil and causes more problems in the downstream refinery operations, such as corrosion and pipeline pressure drop. Hence, it is important to know the effects of emulsions in the pipeline. Light crude oil was used for the continuous phase in the W/O emulsions where the emulsions pass through a flow loop to test the pressure drop across the pipeline. The results obtained shows that pressure drop increases as water cut is increased until it peaks at the phase inversion of the W/O emulsion between 30% to 40% water cut. Emulsions produced by gradual constrictions show a lower stability as compared to sudden constrictions. Lower stability of emulsions in gradual constriction has the higher influence of pressure drop compared to a sudden sharp decrease in diameter in sudden constriction. Generally, sudden constriction experiences pressure drop of 0.013% to 0.067% higher than gradual constriction of the same ratio. Lower constriction ratio cases cause larger pressure drop ranging from 0.061% to 0.241%. Considering the higher profitability in lower emulsion stability and lower pressure drop at the developed flow region of different constrictions, an optimum design of constriction is found to be gradual constriction with a ratio of 0.5.

Keywords: constriction, pressure drop, turbulence, water-in-oil emulsions

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Authors: Camelia Vizireanu, Daniela Istrati, Alina Georgiana Profir, Rodica Mihaela Dinica

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Globally, there is a great interest in promoting the consumption of fruit and vegetables to improve health. Due to the content of essential compounds such as antioxidants, important amounts of fruits and vegetables should be included in the daily diet. Juices are good sources of vitamins and can also help increase overall fruit and vegetable consumption. Starting from this trend (introduction into the daily diet of vegetables and fruits) as well as the desire to diversify the range of functional products for both adults and children, a fermented juice was made using probiotic microorganisms based on root vegetables, with potential beneficial effects in the diet of children, vegetarians and people with lactose intolerance. The three vegetables selected for this study, red beet, carrot, and celery bring a significant contribution to functional compounds such as carotenoids, flavonoids, betalain, vitamin B and C, minerals and fiber. By fermentation, the functional value of the vegetable juice increases due to the improved stability of these compounds. The combination of probiotic microorganisms and vegetable fibers resulted in a nutrient-rich synbiotic product. The stability of the nutritional and sensory qualities of the obtained synbiotic product has been tested throughout its shelf life. The evaluation of the physico-chemical changes of the synbiotic drink during storage confirmed that: (i) vegetable juice enriched with honey and vegetable pulp is an important source of nutritional compounds, especially carbohydrates and fiber; (ii) microwave treatment used to inhibit pathogenic microflora did not significantly affect nutritional compounds in vegetable juice, vitamin C concentration remained at baseline and beta-carotene concentration increased due to increased bioavailability; (iii) fermentation has improved the nutritional quality of vegetable juice by increasing the content of B vitamins, polyphenols and flavonoids and has a good antioxidant capacity throughout the shelf life; (iv) the FTIR and Raman spectra have highlighted the results obtained using physicochemical methods. Based on the analysis of IR absorption frequencies, the most striking bands belong to the frequencies 3330 cm⁻¹, 1636 cm⁻¹ and 1050 cm⁻¹, specific for groups of compounds such as polyphenols, carbohydrates, fatty acids, and proteins. Statistical data processing revealed a good correlation between the content of flavonoids, betalain, β-carotene, ascorbic acid and polyphenols, the fermented juice having a stable antioxidant activity. Also, principal components analysis showed that there was a negative correlation between the evolution of the concentration of B vitamins and antioxidant activity. Acknowledgment: This study has been founded by the Francophone University Agency, Project Réseau régional dans le domaine de la santé, la nutrition et la sécurité alimentaire (SaIN), No. at Dunarea de Jos University of Galati 21899/ 06.09.2017 and by the Sectorial Operational Programme Human Resources Development of the Romanian Ministry of Education, Research, Youth and Sports trough the Financial Agreement POSDRU/159/1.5/S/132397 ExcelDOC.

Keywords: bioactive compounds, fermentation, synbiotic drink from vegetables, stability during storage

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Authors: Njeze Anthony

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In the world economy, entrepreneurship is an outstanding venture. Failures in the businesses of over 70% of Entrepreneurs can be attributed to lack of proper planning. For an entrepreneur to succeed, there are some vital planning strategies that will come into play such as organizational, operational, financial and marketing plans. When an entrepreneur lacks the above mentioned, such an entrepreneur is bound to encounter a catastrophic failure. An entrepreneur with an adequate plan will examine his/her own goals, know why he is in business, look at the venture resource base, have a sound knowledge of his proposed venture and identify obstacles that will be surmounted to achieve the desired goals. This work is aimed at identifying the organizational, operational, financial and marketing impact of entrepreneurship in the world economy and as well the important issues in global entrepreneurship, possible obstacles, and solutions.

Keywords: economy, entrepreneurship, business, operation

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Authors: F. Amirarfaei, K. Khorasani

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In this paper, reconfigurable consensus achievement of a team of agents with marginally stable linear dynamics and single input channel has been considered. The control algorithm is based on a first order linear protocol. After occurrence of a LOE fault in one of the actuators, using the imperfect information of the effectiveness of the actuators from fault detection and identification module, the control gain is redesigned in a way to still reach consensus. The idea is based on the modeling of change in effectiveness as change of Laplacian matrix. Then as special cases of this class of systems, a team of single integrators as well as double integrators are considered and their behavior subject to a LOE fault is considered. The well-known relative measurements consensus protocol is applied to a leaderless team of single integrator as well as double integrator systems, and Gersgorin disk theorem is employed to determine whether fault occurrence has an effect on system stability and team consensus achievement or not. The analyses show that loss of effectiveness fault in actuator(s) of integrator systems affects neither system stability nor consensus achievement.

Keywords: multi-agent system, actuator fault, stability analysis, consensus achievement

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Authors: R. Janyaphadungpong, A. Pimkhaokham

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This prospective clinical study determined the insertion torque (IT) value and monitored the changes in implant stability quotient (ISQ) values during the 12 weeks healing period from implant placement without bone graft (control group) and with bone graft using the guided bone regeneration (GBR) technique (study group). The relationship between the IT and ISQ values of the implants was also assessed. The control and study groups each consisted of 6 patients with 8 implants per group. The ASTRA TECH Implant System™ EV 4.2 mm in diameter was placed in the posterior mandibular region. In the control group, implants were placed in bone without bone graft, whereas in the study group implants were placed simultaneously with the GBR technique at favorable bone defect. IT (Ncm) of each implant was recorded when fully inserted. ISQ values were obtained from the Osstell® ISQ at the time of implant placement, and at 2, 4, 8, and 12 weeks. No difference in IT was found between groups (P = 0.320). The ISQ values in the control group were significantly higher than in the study group at the time of implant placement and at 4 weeks. There was no significant association between IT and ISQ values either at baseline or after the 12 weeks. At 12 weeks of healing, the control and study groups displayed different trends. Mean ISQ values for the control group decreased over the first 2 weeks and then started to increase. ISQ value increases were statistically significant at 8 weeks and later, whereas mean ISQ values in the study group decreased over the first 4 weeks and then started to increase, with statistical significance after 12 weeks. At 12 weeks, all implants achieved osseointegration with mean ISQ values over the threshold value (ISQ>70). These results indicated that implants, in which guided bone regeneration technique was performed during implant placement for treating favorable bone defects, were as predictable as implants placed without bone graft. However, loading in implants placed with the GBR technique for correcting favorable bone defects should be performed after 12 weeks of healing to ensure implant stability and osseointegration.

Keywords: dental implant, favorable bone defect, guided bone regeneration technique, implant stability

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Authors: Seedwell Sithole

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One of the persistent problems in accounting education is how to effectively support students’ learning. A promising technique to this issue is to investigate the extent that learning is determined by the design of instructional material. This study examines the academic performance of students using three instructional designs in financial accounting. Student’s performance scores and reported mental effort ratings were used to determine the instructional effectiveness. The findings of this study show that accounting students prefer graph and text designs that are integrated. The results suggest that spatially separated graph and text presentations in accounting should be reorganized to align with the requirements of human cognitive architecture.

Keywords: accounting, cognitive load, education, instructional preferences, students

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Authors: N. K. Thakur

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A major proportion of the formations drilled for the production of hydrocarbons consists of clay containing shales. The petroleum industry has hugely investigated the role of clay minerals and their subsequent effect on wellbore stability during the drilling and production of hydrocarbons. It has been found that when the shale formation comes in contact with water-based drilling fluid, the interaction of clay minerals like montmorillonite with infiltrated water leads to hydration of the clay minerals, which causes shale swelling. When shale swelling proceeds further, it may lead to major drilling complications like caving, pipe sticking, which invariably influences wellbore stability, wellbore diameter, the mechanical strength of shale, stress distribution in the wellbore, etc. These problems ultimately lead to an increase in nonproductive time and additional costs during drilling. Several additives are used to prevent shale instability. Among the popular additives used for shale inhibition in drilling muds, ionic liquids and nanoparticles are emerging to be the best additives. The efficiency of the proposed additives will be studied and compared with conventional clay inhibitors like KCl. The main objective is to develop a highly efficient water-based mud for mitigating shale instability and reducing fluid loss which is environmentally friendly and does not alter the formation permeability. The use of nanoparticles has been exploited to enhance the rheological and fluid loss properties in water-based drilling fluid ionic liquid have attracted significant research interest due to its unique thermal stability. It is referred to as ‘green chemical’. The preliminary experimental studies performed are promising. The application of more effective mud additives is always desirable to make the drilling process techno-economically proficient.

Keywords: ionic liquid, shale inhibitor, wellbore stability, unconventional

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Authors: Fayaz Moosavi, Saeid Moradyfard

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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.

Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange

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Authors: Saeed Ur Rehman Chaudhry

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The objectives of the study are to reconstruct sequence stratigraphic framework and petrophysical analysis of the reservoir marked by using sequence stratigraphy of Sawan Gas Field. The study area lies in Central Indus Basin, District Khairpur, Sindh province, Pakistan. The study area lies tectonically in an extensional regime. Lower Goru Formation and Sembar Formation act as a reservoir and source respectively. To achieve objectives, data set of seismic lines, consisting of seismic lines PSM96-114, PSM96-115, PSM96-133, PSM98-201, PSM98-202 and well logs of Sawan-01, Sawan-02 and Gajwaro-01 has been used. First of all interpretation of seismic lines has been carried out. Interpretation of seismic lines shows extensional regime in the area and cut entire Cretaceous section. Total of seven reflectors has been marked on each seismic line. Lower Goru Formation is thinning towards west. Seismic lines also show eastward tilt of stratigraphy due to uplift at the western side. Sequence stratigraphic reconstruction has been done by integrating seismic and wireline log data. Total of seven sequence boundaries has been interpreted between the top of Chiltan Limestone to Top of Lower Goru Formation. It has been observed on seismic lines that Sembar Formation initially generated shelf margin profile and then ramp margin on which Lower Goru deposition took place. Shelf edge deltas and slope fans have been observed on seismic lines, and signatures of slope fans are also observed on wireline logs as well. Total of six sequences has been interpreted. Stratigraphic and sequence stratigraphic correlation has been carried out by using Sawan 01, Sawan 02 and Gajwaro 01 and a Low Stand Systems tract (LST) within Lower Goru C sands has been marked as a zone of interest. The petrophysical interpretation includes shale volume, effective porosity, permeability, saturation of water and hydrocarbon. On the basis of good effective porosity and hydrocarbon saturation petrophysical analysis confirms that the LST in Sawan-01 and Sawan-02 has good hydrocarbon potential.

Keywords: petrophysical analysis, reservoir potential, Sawan Gas Field, sequence stratigraphy

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Authors: Paramita Nur Kurniati, Stanislaus Riyanta

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In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.

Keywords: cashless basis, cashless society, government credit card, public sector innovation

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Authors: Ibrahim Ali, Adamu Danlami Ahmed

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This study examines the impact of depreciation on taxable income and financial performance of consumer goods companies quoted on the Nigerian stock exchange. The study adopts ex-post factor research design. Data were collected using a secondary source. The findings of the study suggest that, method of depreciation adopted in any organization influence the taxable profit. Depreciation techniques can either be: depressive, accelerative and linear depreciation. It was also recommended that consumer goods should adjust their method of depreciation to make sure an appropriate method is adopted. This will go a long way to revitalize their taxable profit.

Keywords: accelerated, linear, depressive, depreciation

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Authors: Hemendra Singh Rathod

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Frequency is, among other factors, one of the governing parameters for maintaining electrical grid stability. The quality of an electrical transmission and supply system is mainly described by the stability of the grid frequency. Over the past few decades, energy generation by intermittent sustainable sources like wind and solar has seen a significant increase globally. Consequently, controlling the associated deviations in grid frequency within safe limits has been gaining momentum so that the balance between demand and supply can be maintained. Lithium-ion battery energy storage system (Li-Ion BESS) has been a promising technology to tackle the challenges associated with grid instability. BESS is, therefore, an effective response to the ongoing debate whether it is feasible to have an electrical grid constantly functioning on a hundred percent renewable power in the near future. In recent years, large-scale manufacturing and capital investment into battery production processes have made the Li-ion battery systems cost-effective and increasingly efficient. The Li-ion systems require very low maintenance and are also independent of geographical constraints while being easily scalable. The paper highlights the use of stationary and moving BESS for balancing electrical energy, thereby maintaining grid frequency at a rapid rate. Moving BESS technology, as implemented in the selected railway network in Germany, is here considered as an exemplary concept for demonstrating the same functionality in the electrical grid system. Further, using certain applications of Li-ion batteries, such as self-consumption of wind and solar parks or their ancillary services, wind and solar energy storage during low demand, black start, island operation, residential home storage, etc. offers a solution to effectively integrate the renewables and support Europe’s future smart grid. EMT software tool DIgSILENT PowerFactory has been utilised to model an electrical transmission system with 100% renewable energy penetration. The stability of such a transmission system has been evaluated together with BESS within a defined frequency band. The transmission system operators (TSO) have the superordinate responsibility for system stability and must also coordinate with the other European transmission system operators. Frequency control is implemented by TSO by maintaining a balance between electricity generation and consumption. Li-ion battery systems are here seen as flexible, controllable loads and flexible, controllable generation for balancing energy pools. Thus using Li-ion battery storage solution, frequency-dependent load shedding, i.e., automatic gradual disconnection of loads from the grid, and frequency-dependent electricity generation, i.e., automatic gradual connection of BESS to the grid, is used as a perfect security measure to maintain grid stability in any case scenario. The paper emphasizes the use of stationary and moving Li-ion battery storage for meeting the demands of maintaining grid frequency and stability for near future operations.

Keywords: frequency control, grid stability, li-ion battery storage, smart grid

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Authors: M. L. Ibrahim, A. Abdulhamid

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A surface active molecule synthesized by a rhizobacterial strain Bacillus lentus isolated from Cajanus cajan was investigated. The bioemulsifier was extracted, purified and partially characterized using standard methods. Surface properties of the bioemulsifier were determined by studying the emulsification index, solubility test and stability studies. Partial purification of the bioemulsifier was carried out using FT-IR analysis, Silica-gel column chromatography and thin layer chromatography. GC-MS analysis was carried out to detect the composition and mass of the lipids and esters. The isolate showed an emulsifying activity of 57% and surface activity of 36mm. The stability studies revealed that the bioemulsifier had better stability at temperature of 70oC, 8% pH and 8% NaCl concentration. FT-IR indicated the bioemulsifier to contain peptide and aliphatic chain, TLC revealed the compound to be ninhydrin positive and Column chromatography showed the presence of three amino acids namely; glutamine, valine and cysteine. GC-MS indicated the lipid moiety to contain aliphatic chain ranging from C9-C16 and two major peaks of 1,2-benzenedicarboxylic acid diethyl octyl ester. Therefore, surface active agent from Bacillus lentus can be used effectively in a wide range of applications such as in MEOR and in the biosynthesis of plasticizers for industrial uses.

Keywords: Bacillus lentus, bioemulsifiers, phthalic acid ester, Rhizosphere

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Authors: Hassan J. Al Salman, Ahmed A. Al Ghafli

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In this study, we consider a nonlinear in time finite element approximation of a reaction diffusion system of lambda-omega type. We use a fixed-point theorem to prove existence of the approximations at each time level. Then, we derive some essential stability estimates and discuss the uniqueness of the approximations. In addition, we employ Nochetto mathematical framework to prove an optimal error bound in time for d= 1, 2 and 3 space dimensions. Finally, we present some numerical experiments to verify the obtained theoretical results.

Keywords: reaction diffusion system, finite element approximation, stability estimates, error bound

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Authors: C. M. Nur Syazwani, M. K. Ahmad Imran, Rizal E. M. Nasir

Abstract:

The study on BWB UV begins in UiTM since 2005 and three designs have been studied and published. The latest designs are Baseline-III and inspired by birds that have features and aerodynamics behaviour of cruising birds without flapping capability. The aircraft featuring planform and configuration are similar to the bird. Baseline-III has major flaws particularly in its low lift-to-drag ratio, stability and issues regarding limited controllability. New design known as Baseline-IV replaces straight, swept wing to delta wing and have a broader tail compares to the Baseline-III’s. The objective of the study is to investigate aerodynamics of Baseline-IV bird-inspired BWB aircraft. This will be achieved by theoretical calculation and wind tunnel experiments. The result shows that both theoretical and wind tunnel experiments of Baseline-IV graph of CL and CD versus alpha are quite similar to each other in term of pattern of graph slopes and values. Baseline-IV has higher lift coefficient values at wide range of angle of attack compares to Baseline-III. Baseline-IV also has higher maximum lift coefficient, higher maximum lift-to-drag and lower parasite drag. It has stable pitch moment versus lift slope but negative moment at zero lift for zero angle-of-attack tail setting. At high angle of attack, Baseline-IV does not have stability reversal as shown in Baseline-III. Baseline-IV is proven to have improvements over Baseline-III in terms of lift, lift-to-drag ratio and pitch moment stability at high angle-of-attack.

Keywords: blended wing-body, bird-inspired blended wing-body, aerodynamic, stability

Procedia PDF Downloads 497

Authors: Claire Norman-Maillet

Abstract:

Insider fraud, including its various synonyms such as occupational, employee or internal fraud, is a major financial crime threat whereby an employee defrauds (or attempts to defraud) their current, prospective, or past employer. ‘Employee’ covers anyone employed by the company, including contractors, directors, and part time staff; they may be a solo bad actor or working in collusion with others, whether internal or external. Insider fraud is even more of a concern given the impacts of the Coronavirus pandemic, which has generated multiple opportunities to commit insider fraud. Insider fraud is something that is not necessarily thought of as a significant financial crime threat; the focus of most academics and practitioners has historically been on that of ‘external fraud’ against businesses or entities where an individual or group has no professional ties. Without the face-to-face, ‘over the shoulder’ capabilities of staff being able to keep an eye on their employees, there is a heightened reliance on trust and transparency. With this, naturally, comes an increased risk of insider fraud perpetration. The objective of the research is to better understand how companies are impacted by insider fraud, and therefore how to stop it. This research will make both an original contribution and stimulate debate within the financial crime field. The financial crime landscape is never static – criminals are always creating new ways to perpetrate financial crime, and new legislation and regulations are implemented as attempts to strengthen controls, in addition to businesses doing what they can internally to detect and prevent it. By focusing on insider fraud specifically, the research will be more specific and will be of greater use to those in the field. To achieve the aims of the research, semi-structured interviews were conducted with 22 individuals who either work in financial services and deal with insider fraud or work within insider fraud perpetration in a recruitment or advisory capacity. This was to enable the sourcing of information from a wide range of individuals in a setting where they were able to elaborate on their answers. The principal recruitment strategy was engaging with the researcher’s network on LinkedIn. The interviews were then transcribed and analysed thematically. Main findings in the research suggest that insider fraud has been ignored owing to the denial of accepting the possibility that colleagues would defraud their employer. Whilst Coronavirus has led to a significant rise in insider fraud, this type of crime has been a major risk to businesses since their inception, however have never been given the financial or strategic backing required to be mitigated, until it's too late. Furthermore, Coronavirus should have led to companies tightening their access rights, controls and policies to mitigate the insider fraud risk. However, in most cases this has not happened. The research concludes that insider fraud needs to be given a platform upon which to be recognised as a threat to any company and given the same level of weighting and attention by Executive Committees and Boards as other types of economic crime.

Keywords: fraud, insider fraud, economic crime, coronavirus, Covid-19

Procedia PDF Downloads 62

Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

Abstract:

Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost in a timely manner. In such cases, refinancing could be a solution to benefit from the long-term returns of the project if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. To fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help implementing financially viable energy efficiency projects, so the community could benefit from their environmental advantages widely.

Keywords: energy efficiency projects, leveraged loan, refinancing, sustainability

Procedia PDF Downloads 385

Authors: Abdullahi Mohammed Auwal

Abstract:

Formation and change or decamping from one political party to another have now become a common trend in Nigeria. Many of the parties’ members who could not secure positions and or win elections in their parties or are not very much satisfied with the trends occurring in the party’s internal democratic principles and mechanisms, change their respective parties. This paper developed/presented and analyzed the used of non linear mathematical model for defections between two political parties using epidemiological approach. The whole population was assumed to be a constant and homogeneously mixed. Equilibria have been analytically obtained and their local and global stability discussed. Conditions for the co-existence of both the political parties have been determined, in the study of defections between People Democratic Party (PDP) and All Progressive Congress (APC) in Nigeria using numerical simulations to support the analytical results.

Keywords: model, political parties, deffection, stability, equilibrium, epidemiology

Procedia PDF Downloads 620

Authors: M. Ndeley

Abstract:

Now our days, Almost all manufacturing facilities need to use production planning and scheduling systems to increase productivity and to reduce production costs. Real-life production operations are subject to a large number of unexpected disruptions that may invalidate the original schedules. In these cases, rescheduling is essential to minimize the impact on the performance of the system. In this work we consider flow shop layouts that have seldom been studied in the rescheduling literature. We generate and employ three types of disruption that interrupt the original schedules simultaneously. We develop rescheduling algorithms to finally accomplish the twofold objective of establishing a standard framework on the one hand; and proposing rescheduling methods that seek a good trade-off between schedule quality and stability on the other.

Keywords: flow shop scheduling, uncertainty, rescheduling, stability

Procedia PDF Downloads 433