Search results for: financial and industrial systems

Authors: Dong Sang Yoo

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We consider nonlinear uncertain systems such that a priori information of the uncertainties is not available. For such systems, we assume that the upper bound of the uncertainties is represented as a Fredholm integral equation of the first kind and we propose an adaptation law that is capable of estimating the upper bound and design a continuous robust control which renders nonlinear uncertain systems ultimately bounded.

Keywords: adaptive control, estimation, Fredholm integral, uncertain system

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Authors: Shamil Mardi Al Islam, Zaima Ahmed

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The aim of this article is to explore whether certain macroeconomic variables such as industrial index, inflation, broad money, exchange rate and deposit rate as a proxy for interest rate are interlinked with Dhaka stock price index (DSEX index) precisely after the introduction of new index by Dhaka Stock Exchange (DSE) since January 2013. Bangladesh stock market has experienced rapid growth since its inception. It might not be a very well-developed capital market as compared to its neighboring counterparts but has been a strong avenue for investment and resource mobilization. The data set considered consists of monthly observations, for a period of four years from January 2013 to June 2018. Findings from cointegration analysis suggest that DSEX and macroeconomic variables have a significant long-run relationship. VAR decomposition based on VAR estimated indicates that money supply explains a significant portion of variation of stock index whereas, inflation is found to have the least impact. Impact of industrial index is found to have a low impact compared to the exchange rate and deposit rate. Policies should there aim to increase industrial production in order to enhance stock market performance. Further reasonable money supply should be ensured by authorities to stimulate stock market performance.

Keywords: deposit rate, DSEX, industrial index, VAR

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Authors: Cornelius Femi Popoola

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This study investigated logistics information systems in the distribution of flour in Nigeria. A case study design was used and 50 staff of Honeywell Flour Mill was sampled for the study. Data generated through a questionnaire were analysed using correlation and regression analysis. The findings of the study revealed that logistic information systems such as e-commerce, interactive telephone systems and electronic data interchange positively correlated with the distribution of flour in Honeywell Flour Mill. Finding also deduced that e-commerce, interactive telephone systems and electronic data interchange jointly and positively contribute to the distribution of flour in Honeywell Flour Mill in Nigeria (R = .935; Adj. R2 = .642; F (3,47) = 14.739; p < .05). The study therefore recommended that Honeywell Flour Mill should upgrade their logistic information systems to computer-to-computer communication of business transactions and documents, as well adopt new technology such as, tracking-and-tracing systems (barcode scanning for packages and palettes), tracking vehicles with Global Positioning System (GPS), measuring vehicle performance with ‘black boxes’ (containing logistic data), and Automatic Equipment Identification (AEI) into their systems.

Keywords: e-commerce, electronic data interchange, flour distribution, information system, interactive telephone systems

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Authors: Thee Chowwanonthapunya, Junhua Dong, Wei Ke

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The atmospheres in many cities along the coastal lines in the world have been rapidly changed to coastal-industrial atmosphere. Hence, it is vital to investigate the corrosion behavior of steel exposed to this kind of environment. In this present study, Electrochemical Impedance Spectrography (EIS) and film thickness measurements were applied to monitor the corrosion behavior of weathering steel covered with a thin layer of the electrolyte in a wet-dry cyclic condition, simulating a coastal-industrial environment at 25 oC and 60 % RH. The results indicate that in all cycles, the corrosion rate increases during the drying process due to an increase in anion concentration and an acceleration of oxygen diffusion enhanced by the effect of the thinning out of the electrolyte. During the wet-dry cyclic corrosion test, the long-term corrosion behavior of this steel depends on the periods of exposure. Corrosion process is first accelerated and then decelerated. The decelerating corrosion process is contributed to the formation of the protective rust, favored by the wet-dry cycle and the acid regeneration process during the rusting process.

Keywords: atmospheric corrosion, EIS, low alloy, rust

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Authors: Raman Kumar Singh

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Urbanization and economic growth are considered to be the most striking features of the past century. There is currently a radical demographic shift in progress worldwide, wherein people are moving from rural to urban areas at an increasing rate. The UN-Habitat report 2005 indicates that in 2025, 61 per cent of the 5 billion world population will reside in the urban areas with about 85 per cent of the development process taking place in the urban hinterlands widely referred to as ‘peri-urban’, ‘suburbs’, ‘urban fringe’, ‘city edge’, ‘metropolitan shadow’, or ‘urban sprawl’. In this context the study is broadly concerned with understanding the development of the industrial hub in the Gurgaon and its impact on the immediate neighbourhood. However studies have revealed that with the increase of industrial development the growth pattern changes rapidly, not only the growth of the urban area but the overall economy shifts from more agrarian to non-agrarian, with the change in the occupational pattern of the people. The process is mainly known as tertiarization, where a number of tertiary activities increase in comparison to primary or secondary. The change in the occupational pattern creates a pull factor on its immediate neighbourhood, which triggers the in- migrations from the rural areas as people come in the core urban area in search of the better job opportunities and increased standards of living. But this gives way to the unplanned growth of the urban fringe and the villages which tend to accommodate the migrants and in turn the pressure on the socio-economic infrastructure increases. Therefore, it becomes increasing necessary for the government institution and policy level intervention to provide an overall socio-economic growth along with rapid industrial growth.

Keywords: policy intervention, urban morphology, urban industrial hub, livelihood transformation

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Authors: Prince Ayodeji Yusuph

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Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm’s performance, only when a sound investment decisions are made.

Keywords: transcedental logarithm, cost structures, insurance firms and efficiency, Nigeria

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Authors: Yanqun Li, Hong Geng

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The rapid urbanization process taking big cities as the main body leads to the unequal configuration of urban and rural areas in the aspects of land supply, industrial division of labor, service supply and space allocation, and induces the shrinking characterization of service energy, industrial system and population vitality in small towns. As an important spatial unit in the spectrum of urbanization that serves, connects and couples urban and rural areas, the shrinking phenomenon faced by small towns has an important influence on the healthy development of urbanization. Based on the census of small towns in Wuhan metropolitan area, we have found that the shrinking of small towns is a passive contraction of elastic tension under the squeeze in cities. Once affected by the external forces such as policy regulation, planning guidance, and population return, small towns will achieve expansion and growth. Based on the theory of complex adaptive systems, this paper comprehensively constructs the development index evaluation system of small towns from five aspects of population, economy, space, society and ecology, measures the shrinking level of small towns, further analyzes the shrinking characteristics of small towns, and identifies whether the shrinking is elastic or not. And then this paper measures the resilience ability index of small town contract from the above-mentioned five aspects. Finally, this paper proposes an adaptive mechanism of urban-rural interaction evolution under fine division of labor to response the passive shrinking in small towns of Wuhan. Based on the above, the paper creatively puts forward the planning response measures of the small towns on the aspects of spatial layout, function orientation and service support, which can provide reference for other regions.

Keywords: complex adaptive systems, resiliency shrinking, adaptation mechanism, planning response

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Authors: Amit Kumar Bardhan, Barnali Nag, Chandra Sekhar Mishra

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Microfinance is considered as one of the key drivers of financial inclusion and pro-poor financial growth. Microfinance in India became popular through Self Help Group (SHG) movement initiated by NABARD. In terms of outreach and loan portfolio, SHG Bank Linkage programme (SHG-BLP) has emerged as the largest microfinance initiative in the world. The success of financial inclusion lies in the successful implementation of SHG-BLP. SHGs are generally promoted by social welfare organisations like NGOs, welfare societies, government agencies, Co-operatives etc. and even banks are also involved in SHG formation. Thus, the pro-poor implementation of the scheme largely depends on the credibility of the SHG Promoting Institutions (SHPIs). The rural poor lack education, skills and financial literacy and hence need continuous support and proper training right from planning to implementation. In this study, we have made an attempt to inspect the reasons behind low penetration of SHG financing to the poorest of the poor both from demand and supply side perspective. Banks, SHPIs, and SHGs are three key essential stakeholders in SHG-BLP programmes. All of them have a vital role in programme implementation. The objective of this paper is to find out the drivers and hurdles in the path of financial inclusion through SHG-BLP and the role of SHPIs in reaching out to the ultra poor. We try to address questions like 'what are the challenges faced by SHPIs in targeting the poor?' and, 'what are factors behind the low credit linkage of SHGs?' Our work is based on a qualitative study of SHG programmes in semi-urban towns in the states of West Bengal and Odisha in India. Data are collected through unstructured questionnaire and in-depth interview from the members of SHGs, SHPIs and designated banks. The study provides some valuable insights about the programme and a comprehensive view of problems and challenges faced by SGH, SHPIs, and banks. On the basis of our understanding from the survey, some findings and policy recommendations that seem relevant are: increasing level of non-performing assets (NPA) of commercial banks and wilful default in expectation of loan waiver and subsidy are the prime reasons behind low rate of credit linkage of SHGs. Regular changes in SHG schemes and no incentive for after linkage follow up results in dysfunctional SHGs. Government schemes are mostly focused on creation of SHG and less on livelihood promotion. As a result, in spite of increasing (YoY) trend of number of SHGs promoted, there is no real impact on welfare growth. Government and other SHPIs should focus on resource based SHG promotion rather only increasing the number of SHGs.

Keywords: financial inclusion, inclusive growth, microfinance, Self-Help Group (SHG), Self-Help Group Promoting Institution (SHPI)

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Authors: Mohamed Hassan Abdullahi

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Decomposition is used as a synthesis tool in several physical systems. It can also be used for tearing and restructuring, which is large-scale system analysis. On the other hand, the commutativity of series-connected systems has fascinated the interest of researchers, and its advantages have been emphasized in the literature. The presentation looks into the necessary conditions for decomposing any third-order discrete-time linear time-varying system into a commutative pair of first- and second-order systems. Additional requirements are derived in the case of nonzero initial conditions. MATLAB simulations are used to verify the findings. The work is unique and is being published for the first time. It is critical from the standpoints of synthesis and/or design. Because many design techniques in engineering systems rely on tearing and reconstruction, this is the process of putting together simple components to create a finished product. Furthermore, it is demonstrated that regarding sensitivity to initial conditions, some combinations may be better than others. The results of this work can be extended for the decomposition of fourth-order discrete-time linear time-varying systems into lower-order commutative pairs, as two second-order commutative subsystems or one first-order and one third-order commutative subsystems.

Keywords: commutativity, decomposition, discrete time-varying systems, systems

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Authors: Farideh Gheitasi, Zahra Mirzaei Pour

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Considering mutual interactions of industry and residence in an environmental point of view is essential in effective urban management and all the policies must be made based on the results of these interactions. So, District No 21 of Tehran Municipality (Iran) which is almost industrial combined with some residential area was selected to study the consequences of industrial and residential area neighborhood. In this paper the results of two observations conducted in two timescales in 2010 and 2015, according to completed questionnaires by residents of an industrial region in the study area, were analyzed. The questionnaires contain 19 different environmental parameters considering positive and negative effects of industry on human life. The results of this study show that 96% of the target group in 2010 believed if the companies regard the law, mutual coexistence of industry and residency is possible. While this number decreased to 21% in 2015, which indicates that the problem got worse and people became more unsatisfied with the situation.

Keywords: environment, industry, residence, pollution

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Authors: William Sidharta, Chin-Tu Lu

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Fluorescent ultraviolet lamp generates ultraviolet light which is commonly used in industrial field with certain purposes especially for curing process. Due to the value of inefficiency, there are changes in energy from electrical energy to the heat energy and this would make a defect on the industrial product caused by high temperature of lamp tube during ultraviolet light emission. The condition of industrial scale is further worsening, since commonly using dozens of fluorescent ultraviolet lamps to support huge production process and then it will generates much more heat energy. The maximum temperature of fluorescent ultraviolet lamp will get affected by arranging the lamp tube reflector and this study presents CFX simulation results of the maximum lamp tube temperature with some different reflector arrangements on purely natural convection phenomena. There exists certain spaces value of the reflector and the lamp tube to obtaining lower maximum temperature of the fluorescent ultraviolet lamp.

Keywords: CFX simulation, fluorescent UV lamp, lamp tube reflector, UV light

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Authors: Peter Ned Wales

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This paper is the result of a substantial amount of data looking at how industrially zoned land is changing post COVID in the 21st Century. With the impact of global megatrends such as globalisation, the rapid adaption of innovative technologies and elevated demands on the design typologies, the tradition view of employment lands is quickly evolving. The research findings discussed here clearly show that land use conflicts have begun to take their toll across numerous light industrial precincts within the booming City of the Gold Coast. The recent global pandemic has placed enormous pressures on land values and industrial lands in Southeast Queensland. considered a highly desirable place to live, work and play are morphing in new ways. This region of Australia has become one of the most desirable places to locate after extended pandemic lock downs in Sydney and Melbourne. Findings in the current business trends have highlighted a new way of applying land use zones that provide a sustainable hybrid of acceptable land uses for prosperous business activity. In the wake of a rapid rise in the knowledge economy and boutique products that reflect the younger demographic has resulted in new emerging business activities that are significantly different from business trends two decades ago, when these industrial land use controls were originally applied. This paper explores what are the new demands on these established employment precincts and how local governments can better support start-ups and a broad variety of land uses not previously considered relevant to local government planners.

Keywords: sustainable urban, urban design, industrial lands, employment lands, sustainable communities

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Authors: Julius Denafas, Irina Kliopova, Gintaras Denafas

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Three opportunities for implementation of industrial ecology principles in the real industrial production of c-Si solar cells and modules are presented in this study. It includes: material flow dematerialisation, product modification and industrial symbiosis. Firstly, it is shown how the collaboration between R&D institutes and industry helps to achieve significant reduction of material consumption by a) refuse from phosphor silicate glass cleaning process and b) shortening of silicon nitride coating production step. Secondly, it was shown how the modification of solar module design can reduce the CO2 footprint for this product and enhance waste prevention. It was achieved by implementing a frameless glass/glass solar module design instead of glass/backsheet with aluminium frame. Such a design change is possible without purchasing new equipment and without loss of main product properties like efficiency, rigidity and longevity. Thirdly, industrial symbiosis in the solar cell production is possible in such case when manufacturing waste (silicon wafer and solar cell breakage) also used solar modules are collected, sorted and supplied as raw-materials to other companies involved in the production chain of c-Si solar cells. The obtained results showed that solar cells produced from recycled silicon can have a comparable electrical parameters like produced from standard, commercial silicon wafers. The above mentioned work was performed at solar cell producer Soli Tek R&D in the frame of H2020 projects CABRISS and Eco-Solar.

Keywords: manufacturing, process optimisation, recycling, solar cells, solar modules, waste prevention

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Authors: Murtadha Kareem, Oliver Faust

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Wearable biosensor systems can be designed and developed for health monitoring. There is much interest in both scientific and industrial communities established since 2007. Fundamentally, the cost of healthcare has increased dramatically and the world population is aging. That creates the need to harvest technological improvements with small bio-sensing devices, wireless-communication, microelectronics and smart textiles, that leads to non-stop developments of wearable sensor based systems. There has been a significant demand to monitor patient's health status while the patient leaves the hospital in his/her personal environment. To address this need, there are numerous system prototypes which has been launched in the medical market recently, the aim of that is to provide real time information feedback about patient's health status, either to the patient himself/herself or direct to the supervising medical centre station, while being capable to give a notification for the patient in case of possible imminent health threatening conditions. Furthermore, wearable health monitoring systems comprise new techniques to address the problem of managing and monitoring chronic heart diseases for elderly people. Wearable sensor systems for health monitoring include various types of miniature sensors, either wearable or implantable. To be specific, our proposed system able to measure essential physiological parameter, such as heart rate signal which could be transmitted through Bluetooth to the cloud server in order to store, process, analysis and visualise the data acquisition. The acquired measurements are connected through internet of things to a central node, for instance an android smart phone or tablet used for visualising the collected information on application or transmit it to a medical centre.

Keywords: Wearable sensor, Heart rate, Internet of things, Chronic heart disease

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Authors: Man Young Kim

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To reduce the NOx emission in a Diesel vehicle, such various after treatment systems as SCR, LNC, and LNT are frequently visited as promising systems. Among others, urea-based SCR systems are known to be stable, effective technologies that can reduce NOx emissions most efficiently from diesel exhaust systems. In this study, therefore, effect of urea injector installation angle on the evaporation and mixing characteristics is investigated to find optimum operation conditions. It can be found that the injection angle significantly affects the thermal behavior of the urea-water solution in the diesel exhaust gases.

Keywords: selective catalytic reduction (SCR), evaporation, thermolysis, urea-water solution (UWS), injector installation angle

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Authors: Natcha Ruamyat, Nichakorn Khondee

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The potential of an alkaliphilic bacteria isolated from soil in Thailand to utilized agro-industrial and agricultural wastes for the production of biosurfactants was evaluated in this study. Among five isolates, Pseudomonas mendocina NK41 used soapstock as substrate showing a high biosurfactant concentration of 7.10 g/L, oil displacement of 97.8 %, and surface tension reduction to 29.45 mN/m. Various agricultural residues were applied as mixed substrates with soapstock to enhance the synthesis of biosurfactants. The production of biosurfactant and bacterial growth was found to be the highest with coconut oil cake as compared to Sacha inchi shell, coconut kernel cake, and durian shell. The biodegradability of agro-industrial wastes was better than agricultural wastes, which allowed higher bacterial growth. The pretreatment of coconut oil cake by combined alkaline and hydrothermal method increased the production of biosurfactant from 12.69 g/L to 13.82 g/L. The higher microbial accessibility was improved by the swelling of the alkali-hydrothermal pretreated coconut oil cake, which enhanced its porosity and surface area. The pretreated coconut oil cake was reused twice in the repeated batch production, showing higher biosurfactant concentration up to 16.94 g/L from the second cycle. These results demonstrated the capability of using lignocellulosic wastes from agricultural and agro-industrial activities to produce a highly valuable biosurfactant. High biosurfactant yield with low-cost substrate reveals its potential towards further commercialization of biosurfactant on large-scale production.

Keywords: alkaliphilic bacteria, agricultural/agro-industrial wastes, biosurfactant, combined alkaline-hydrothermal pretreatment

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Authors: Hassan Medaghri Alaoui

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The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.

Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco

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Authors: Edmaritz Hernandez-Pagan, Kanjana Laosuntisuk, Alex Harris, Allison Haynes, David Buitrago, Michael Kudenov, Colleen Doherty

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Rare Earth Elements (REEs) are critical metals for modern electronics, green technologies, and defense systems. However, due to their dispersed nature in the Earth’s crust, frequent co-occurrence with radioactive materials, and similar chemical properties, acquiring and purifying REEs is costly and environmentally damaging, restricting access to these metals. Plants could serve as resources for bioengineering REE mining systems. Although there is limited information on how REEs affect plants at a cellular and molecular level, plants with high REE tolerance and hyperaccumulation have been identified. This dissertation aims to develop a plant-based system for harvesting REEs from industrial waste material with a focus on Acid Mine Drainage (AMD), a toxic coal mining product. The objectives are 1) to develop a non-destructive, in vivo detection method for REE detection in Phytolacca plants (REE hyperaccumulator) plants utilizing fluorescence spectroscopy and with a primary focus on dysprosium, 2) to characterize the uptake of REE and Heavy Metals in Phytolacca americana and Phytolacca acinosa (REE hyperaccumulator) in AMD for potential implementation in the plant-based system, 3) to implement the REE detection method to identify REE-binding proteins and peptides for potential enhancement of uptake and selectivity for targeted REEs in the plants implemented in the plant-based system. The candidates are known REE-binding peptides or proteins, orthologs of known metal-binding proteins from REE hyperaccumulator plants, and novel proteins and peptides identified by comparative plant transcriptomics. Lanmodulin, a high-affinity REE-binding protein from methylotrophic bacteria, is used as a benchmark for the REE-protein binding fluorescence assays and expression in A. thaliana to test for changes in REE plant tolerance and uptake.

Keywords: phytomining, agromining, rare earth elements, pokeweed, phytolacca

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Authors: M. Sai Veerendra

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Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project on developing a new data mining solution for AML Units in an international investment bank in Ireland, we survey recent data mining approaches for AML. In this paper, we present not only these approaches but also give an overview on the important factors in building data mining solutions for AML activities.

Keywords: data mining, clustering, money laundering, anti-money laundering solutions

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Authors: Robin Molinier

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Industrial symbiosis (I.S) deals with the exchange of waste materials, fatal energy and utilities as resources for production. While it brings environmental benefits from resource conservation its economic profitability is one of the main barriers to its implementation. I.S involves several actors with their own objectives and resources so that each actor must be satisfied by ex-ante arrangements to commit toward investments and transactions. Regarding I.S Transaction cost economics helps to identify hybrid forms of governance for transactions governance due to I.S projects specificities induced by the need for customization (asset specificity, non-homogeneity). Thus we propose a framework to analyze the best contractual practices tailored to address I.S specific risks that we identified as threefold (load profiles and quality mismatch, value fluctuations). Schemes from cooperative game theory and contracting management are integrated to analyze value flows between actors. Contractual guidelines are then proposed to address the identified risks and to split the value for a set of I.S archetypes drawn from actual experiences.

Keywords: contracts, economics, industrial symbiosis, risks

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Authors: Marko Čular

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The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

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Authors: Jin Huang

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Research shows that asset-building policies have positive financial and non-financial impacts on children and families. To promote the development of asset-building policies for children in China, it is important to understand the current status of family savings for children. We use the data from the 2016 China Family Panel Studies and show only 16% of families have savings designated for children’s future education. Families with advantaged socioeconomic backgrounds are more likely to save and also save more for their children than their counterparts with disadvantaged backgrounds. Without large-scale and progressive policy interventions, families with disadvantaged backgrounds are less likely to build assets for children. Policy and practice implications for family social workers are discussed.

Keywords: assets, asset building, child, china, education, family, savings

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Authors: A. Al-Rashidi, A. El-Hamalawi

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In this paper, a performance study was conducted to investigate single and dual-axis PV systems to generate electricity in five different sites in Kuwait. Relevant data were obtained by using two sources for validation purposes. A commercial software, PVsyst, was used to analyse the data, such as metrological data and other input parameters, and compute the performance parameters such as capacity factor (CF) and final yield (YF). The results indicated that single and dual-axis PV systems would be very beneficial to electricity generation in Kuwait as an alternative source to conventional power plants, especially with the increased demand over time. The ranges were also found to be competitive in comparison to leading countries using similar systems. A significant increase in CF and YF values around 24% and 28.8% was achieved related to the use of single and dual systems, respectively.

Keywords: single-axis and dual-axis photovoltaic systems, capacity factor, final yield, Kuwait

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Authors: Muhammad Javed Bhatti, Tariq Ali, Muazz Ali

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Due to growing environmental awareness in Pakistan, the researchers are increasingly turning to assess and analyze properties of industrial waste and finding solutions on using industrial waste as secondary material. Due to industrialization, enormous by-products are produced and to utilize these by-products is the main challenge faced in Pakistan. Induction furnace slag is one of the industrial by-products from the iron and steel making industries. This paper highlights the true utilization of induction furnace slag as partial replacement of fine aggregate. For the experimental investigation, mixes were prepared with fine aggregate replacement using 0 percent, 5 percent, 10 percent, 15 percent, 20 percent, 25 percent, 30 percent, 35 percent and 40 percent induction furnace slag to evaluate the workability, compaction factor, compressive strength, flexural strength, modulus of elasticity.

Keywords: compressive strength, deflection, induction furnace slag, workability

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Authors: Abdullah Eqal Al Mazrooei

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In this paper, we introduce a mathematical algorithm which is used for estimating the states in the bilinear systems. This algorithm uses a special linearization of the second-order term by using the best available information about the state of the system. This technique makes our algorithm generalizes the well-known Kalman estimators. The system which is used here is of the bilinear class, the evolution of this model is linear-bilinear in the state of the system. Our algorithm can be used with linear and bilinear systems. We also here introduced a real application for the new algorithm to prove the feasibility and the efficiency for it.

Keywords: estimation algorithm, bilinear systems, Kakman filter, second order linearization

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Authors: K. Jithendra Gowd, Ch. Sai Babu, S. Sivanagaraju

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Electric power systems are daily exposed to service interruption mainly due to faults and human accidental interference. Short circuit currents are responsible for several types of disturbances in power systems. The fault currents are high and the voltages are reduced at the time of fault. This paper presents two suitable methods, consideration of fault resistance and Distributed Generator are implemented and analyzed for the enhancement of voltage profile during fault conditions. Fault resistance is a critical parameter of electric power systems operation due to its stochastic nature. If not considered, this parameter may interfere in fault analysis studies and protection scheme efficiency. The effect of Distributed Generator is also considered. The proposed methods are tested on the IEEE 37 bus test systems and the results are compared.

Keywords: distributed generation, electrical distribution systems, fault resistance

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Authors: Rolf Katzenbach, Frithjof Clauss, Jie Zheng

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The final energy use can be divided mainly in four sectors: commercial, industrial, residential, and transportation. The trend in final energy consumption by sector plays as a most straightforward way to provide a wide indication of progress for reducing energy consumption and associated environmental impacts by different end use sectors. According to statistics the average share of end use energy for residential sector in the world was nearly 20% until 2011, in Germany a higher proportion is between 25% and 30%. However, it remains less studied than energy use in other three sectors as well its impacts on climate and environment. The reason for this involves a wide range of fields, including the diversity of residential construction like different housing building design and materials, living or energy using behavioral patterns, climatic condition and variation as well other social obstacles, market trend potential and financial support from government. This paper presents an extensive and in-depth analysis of the manner by which projects researched and operated by authors in the fields of energy efficiency primarily from the perspectives of both technical potential and initiative energy saving consciousness in the residential sectors especially in social housing buildings.

Keywords: energy efficiency, renewable energy, retro-commissioning, social housing, sustainability

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Authors: B. H. Aitchanov, Sh. K. Aitchanova, O. A. Baimuratov

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This paper is focused on dynamic pulse-frequency modulation (DPFM) control systems. Currently, the control law based on DPFM control signals is widely used in direct digital control subsystems introduced in the automated control systems of technological processes. Statistical analysis of automatic control systems is reduced to its construction of functional relationships between the statistical characteristics of the errors processes and input processes. Structural and dynamic Volterra models of digital pulse-frequency control systems can be used to develop methods for generating the dependencies, differing accuracy, requiring the amount of information about the statistical characteristics of input processes and computing labor intensity of their use.

Keywords: digital dynamic pulse-frequency control systems, dynamic pulse-frequency modulation, control object, discrete filter, impulse device, microcontroller

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Authors: Elizabeth Snyman-Van Deventer

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Numerous corporate scandals, which included investment scams, corporate malfeasance, unethical conduct and conflicts of interest, contributed to the collapse of WorldCom, Global Crossing, Xerox, Tyco, Enron, Sprint, AbbVie and Imclone and led to alarmed investors abandoning public securities markets and the tumbling of U.S stock markets. These companies suffered significant financial losses due to substantial and fraudulent misstatements and other illegal, corrupt or unethical practices. Executives were convicted of fraud and sentenced to prison. The corporate financial scandals, governance failures, and the ensuing public outcries led to mandatory legislation, e.g. the Sarbanes-Oxley Act in the USA. In European corporate scandals such as Parmalat, Royal Dutch Ahold, Vivendi, Adecco and Elan, the boards missed financial misrepresentations. In South Africa, Steinhoff is the most well-known example of corporate collapse, but now we can also add Tongaat Hulett. It seems as if fraud and corruption may be the major sources of these corporate collapses. In most instances, there is either the active involvement of the directors and managers in these fraudulent or corrupt practices, or there is a negligent or even intentional failure to act by directors to prevent these activities. However, besides directors and managers, auditors and lawyers failed in most of these companies to fulfil their professional duties. In most of these major collapses, the ethics of especially auditors and directors could be questioned. This paper will first provide a brief overview of corporate collapses. Secondly, the reasons for these collapses, with a focus on unethical conduct, will be discussed.

Keywords: professional duties, corporate collapses, ethical conduct, legal ethics, directors, auditors

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Authors: Imen Latrous

Abstract:

Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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