Search results for: financial ratio

Authors: Wipharat Saimo, Benjawan Thumthanaruk, Panida Banjongsinsiri, Nowwapan Noojuy

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Thai northern style sausage (sai-ou) is originally cuisine made of chili paste, pork, and lard. It always serves with curry paste, vegetable, and rice. The meat and lard ingredients used can be substituted by Shiitake mushroom (Lentinus edodes) and King oyster (Pleurotus eryngii) mushroom (50:50 w/w) which is suitable for all people, especially vegetarians. However, the texture of mushroom type sai-ou had no homogenous texture due to no adhesiveness property of mushroom. Therefore, this research aimed to study the ratio of hydrocolloids (konjac flour (0-100%), konjac gel (0-100%) and Citri-fi®100 FG (0-2%)) on the physicochemical properties mushroom type sai-ou. The mixture design was applied by using Minitab 16 software. Nine formula were designed for the test. The values of moisture content and water activity of nine formula were ranged from 66.25-72.17% and 0.96-0.97. The pH values were 5.44-5.89. The optimal ratio of konjac flour, konjac gel and Citri-fi®100 FG (74.75:24.75:0.5 (w/w)) yielded the highest texture profiles (hardness, springiness, cohesiveness, gumminess and chewiness) as well as color parameters (L*, a* and b*). Sensory results showed had higher acceptability scores in term of overall liking with the level of ‘like moderately’ (5.9 on 7 pointed scale). The mushroom type sai-ou sausage could be an alternative food for health-conscious consumers.

Keywords: Citri-fi® 100 FG, konjac flour, konjac gel, Thai northern style sausages

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Authors: Shreemoyee Sarkar, Vikhyat Chadha

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In this paper, the local fractal properties and chaotic properties of financial time series are investigated by calculating two exponents, the Local Hurst Exponent: LHE and Lyapunov Exponent in a moving time window of a financial series.y. For the purpose of this paper, the Dow Jones Industrial Average (DIJA) and S&P 500, two of the major indices of United States have been considered. The behaviour of the above-mentioned exponents prior to some major crashes (1998 and 2008 crashes in S&P 500 and 2002 and 2008 crashes in DIJA) is discussed. Also, the optimal length of the window for obtaining the best possible results is decided. Based on the outcomes of the above, an attempt is made to predict the crashes and accuracy of such an algorithm is decided.

Keywords: local hurst exponent, lyapunov exponent, market crash prediction, time series chaos, time series local fractal properties

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Authors: Ghada Diaa, Enas A. Khattab

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Ultra High Strength Concrete (UHSC) is a new advanced concrete that is being transferred from laboratory researches to practicable applications. In addition to its excellent durability properties, UHSC has high compressive and tensile strengths, and high modulus of elasticity. Despite of this low degree of hydration, ultra high strength values can be achieved by controlling the mixture proportions. In this research, an experimental program was carried out to investigate the shear behavior of ultra high strength concrete beams. A total of nine beams were tested to determine the effect of different parameters on the shear behavior of UHSC beams. The parameters include concrete strength, steel fiber volume, shear span to depth ratio, and web reinforcement ratio. The results demonstrated that nominal shear stress at cracking load and at ultimate load increased with the increase of concrete strength or the decrease in shear span-depth ratio. Using steel fibers or shear reinforcement increases the ultimate shear strength and makes the shear behavior more ductile. In this study, a simplified analytical model to calculate the shear strength of UHSC beams is introduced. Shear strength estimated according to the proposed method in this research is in good agreement with the experimental results.

Keywords: ultra high strength, shear strength, diagonal, cracking, steel fibers

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Authors: Peng Chun-Yi, Chen Wei-Hsuan, Ueng Shyh-Kuang

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This study focuses on the application of self-organizing maps (SOM) technology in analyzing credit card transaction data, aiming to enhance the accuracy and efficiency of fraud detection. Som, as an artificial neural network, is particularly suited for pattern recognition and data classification, making it highly effective for the complex and variable nature of credit card transaction data. By analyzing transaction characteristics with SOM, the research identifies abnormal transaction patterns that could indicate potentially fraudulent activities. Moreover, this study has developed a specialized visualization tool to intuitively present the relationships between SOM analysis outcomes and transaction data, aiding financial institution personnel in quickly identifying and responding to potential fraud, thereby reducing financial losses. Additionally, the research explores the integration of SOM technology with composite intelligent system technologies (including finite state machines, fuzzy logic, and decision trees) to further improve fraud detection accuracy. This multimodal approach provides a comprehensive perspective for identifying and understanding various types of fraud within credit card transactions. In summary, by integrating SOM technology with visualization tools and composite intelligent system technologies, this research offers a more effective method of fraud detection for the financial industry, not only enhancing detection accuracy but also deepening the overall understanding of fraudulent activities.

Keywords: self-organizing map technology, fraud detection, information visualization, data analysis, composite intelligent system technologies, decision support technologies

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Authors: Usarat Thawornchaisit, Kamalasiri Juthaisong, Kasama Parsongjeen, Phonsiri Phoengchan

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In this study, sludge samples that were collected from the wastewater treatment plant of a printed circuit board manufacturing industry in Thailand were subjected to acid extraction using sulfuric acid as the chemical extracting agent. The effects of sulfuric acid concentration (A), the ratio of a volume of acid to a quantity of sludge (B) and extraction time (C) on the efficiency of copper extraction were investigated with the aim of finding the optimal conditions for maximum removal of copper from the wastewater treatment sludge. Factorial experimental design was employed to model the copper extraction process. The results were analyzed statistically using analysis of variance to identify the process variables that were significantly affected the copper extraction efficiency. Results showed that all linear terms and an interaction term between volume of acid to quantity of sludge ratio and extraction time (BC), had statistically significant influence on the efficiency of copper extraction under tested conditions in which the most significant effect was ascribed to volume of acid to quantity of sludge ratio (B), followed by sulfuric acid concentration (A), extraction time (C) and interaction term of BC, respectively. The remaining two-way interaction terms, (AB, AC) and the three-way interaction term (ABC) is not statistically significant at the significance level of 0.05. The model equation was derived for the copper extraction process and the optimization of the process was performed using a multiple response method called desirability (D) function to optimize the extraction parameters by targeting maximum removal. The optimum extraction conditions of 99% of copper were found to be sulfuric acid concentration: 0.9 M, ratio of the volume of acid (mL) to the quantity of sludge (g) at 100:1 with an extraction time of 80 min. Experiments under the optimized conditions have been carried out to validate the accuracy of the Model.

Keywords: acid treatment, chemical extraction, sludge, waste management

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Authors: Freddy Munzhelele

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Setting: the empirical research has shown that the life cycle theory has an impact on the firms’ financing decisions, particularly the dividend pay-outs. Accordingly, the life cycle theory posits that as a firm matures, it gets to a level and capacity where it distributes more cash as dividends. On the other hand, the young firms prioritise investment opportunities sets and their financing; thus, they pay little or no dividends. The research on firms’ financing decisions also demonstrated, among others, the adoption of trade-off and pecking order theories on the dynamics of firms capital structure. The trade-off theory talks to firms holding a favourable position regarding debt structures particularly as to the cost and benefits thereof; and pecking order is concerned with firms preferring a hierarchical order as to choosing financing sources. The case of life cycle hypothesis explaining the financial managers’ decisions as regards the firms’ capital structure dynamics appears to be an interesting link, yet this link has been neglected in corporate finance research. If this link is to be explored as an empirical research, the financial decision-making alternatives will be enhanced immensely, since no conclusive evidence has been found yet as to the dynamics of capital structure. Aim: the aim of this study is to examine the impact of life cycle theory on the capital structure dynamics trade-off and pecking order theories of firms listed in retail, industrial and mining sectors of the JSE. These sectors are among the key contributors to the GDP in the South African economy. Design and methodology: following the postpositivist research paradigm, the study is quantitative in nature and utilises secondary data obtainable from the financial statements of sampled firm for the period 2010 – 2022. The firms’ financial statements will be extracted from the IRESS database. Since the data will be in panel form, a combination of the static and dynamic panel data estimators will used to analyse data. The overall data analyses will be done using STATA program. Value add: this study directly investigates the link between the life cycle theory and the dynamics of capital structure decisions, particularly the trade-off and pecking order theories.

Keywords: life cycle theory, trade-off theory, pecking order theory, capital structure, JSE listed firms

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Authors: Olurankinse Felix, Fatukasi Bayo

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Over the years, the medium through which government financial statements are prepared has been on cash basis of accounting. This basis was characterised with some shortcomings ranging from non- disclosure of quality and detail information relating to government financial transactions, ill informed assessment of government resource allocation, weak internal control system that inhibits accountability and transparency and non- standardisation of reporting ethics for the purpose of comparability. The emergence of international public sector accounting standards (IPSAS) is therefore seen as leverage as it aims at improving the quality of general purpose financial reporting by public sector entities thereby increasing transparency and accountability. IPSAS is a new concept that all institutions must fully adopts. The crux of this paper is to find out to what extent is the awareness and adoption of IPSAS to both students and lecturers interms of teaching, learning and inclusion in the curriculum of accounting education. The methodology involved the use of well designed questionnaires to obtain information from some selected institutions and the analysis was done with the use of maximum likelihood ordered probit regression. The result of the analysis shows that despite a high level of sensitisation/awareness of IPSAS, the degree of adoption is still low due to low level of desirability by students and lecturers. The paper recommend the need for the government to enact an enabling law to back up the adoption and more importantly to institute appropriate sanctions to ensure full compliance.

Keywords: assessment, awareness, adoption, IPSAS, cash basis

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Authors: Milind S. Patil, Purushottam S. Desale, Eknath R. Deore

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Thermal analysis of reheat, regenerative, inter-cooled gas turbine cycle is presented. Specific work output, thermal efficiency and SFC is simulated with respect to operating conditions. Analytical formulas were developed taking into account the effect of operational parameters like ambient temperature, compression ratio, compressor efficiency, turbine efficiency, regenerator effectiveness, pressure loss in inter cooling, reheating and regenerator. Calculations were made for wide range of parameters using engineering equation solver and the results were presented here. For pressure ratio of 12, regenerator effectiveness 0.95, and maximum turbine inlet temperature 1200 K, thermal efficiency decreases by 27% with increase in ambient temperature (278 K to 328 K). With decrease in regenerator effectiveness thermal efficiency decreases linearly. With increase in ambient temperature (278 K to 328 K) for the same maximum temperature and regenerator effectiveness SFC decreases up to a pressure ratio of 10 and then increases. Sharp rise in SFC is noted for higher ambient temperature. With increase in isentropic efficiency of compressor and turbine, thermal efficiency increases by about 40% for low ambient temperature (278 K to 298 K) however, for higher ambient temperature (308 K to 328 K) thermal efficiency increases by about 70%.

Keywords: gas turbine, reheating, regeneration, inter-cooled, thermal analysis

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Authors: Priya M. V., Thakar Singh

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A field experiment was carried out during the rabi season of 2017 and 2018 to evaluate the productivity and economic viability of bed-planted chickpea-based intercropping systems. The experiment was laid out in a randomized block design consisting of four replications with thirteen treatments. Results showed that sole chickpea recorded the highest seed yield, and it was statistically at par with seed yield obtained under chickpea + oats fodder (2:1), chickpea + oats fodder (4:1), and chickpea + linseed (4:1) intercropping systems. However, oilseed rape and barley as intercrops showed an adverse effect on yield and yield attributes of chickpea. Chickpea + oats fodder in 2:1 row ratio recorded the highest chickpea equivalent yield of 24.07 and 24.77 q/ha during 2017 and 2018, respectively. Higher net returns (Rs. 63098 and 70924/ha) and benefit-cost ratio (1.47 and 1.63) were also recorded in chickpea + oats fodder (2:1) intercropping system over sole chickpea (Rs. 44862 and 53769/ha and 1.21 and 1.41) during both the years. Chickpea + oats fodder (4:1), chickpea + linseed (2:1), and chickpea + linseed (4:1) also recorded significantly higher chickpea equivalent yield, net returns, and benefit-cost ratio as compared to sole chickpea.

Keywords: bed planted chickpea, chickpea equivalent yield, economic returns, intercropping system, productivity

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Authors: Aarohi Surya

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The number of mobile banking users continues to climb across the world due to its increasing popularity, and UAE is no exception. This type of banking is part of the core strategy of most of the financial institutions that allows its customers to conduct a range of financial transactions through mobile apps to cash in the high demand from the bankers. This study aims at evaluating service quality of online banking in Dubai, one of the swiftly growing cities of Middle East. The paper mainly compares online banking services of Multinational bank and National Bank with special reference to Citibank and Emirates NBD. A structured questionnaire survey is conducted among various target groups. The research has been focused on mainly 4 significant areas of online banking, i.e. Privacy, Responsiveness, Reliability, and Efficiency of customer data. Information was analyzed statistically on SPSS to investigate the service quality of e-banking.

Keywords: customer satisfaction, service quality, responsiveness, online banking

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Authors: Aadila Cayenne, Hinrich Uellendahl

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Optimization of the anaerobic digestion (AD) process of halophytic plants is essential as the biomass contains a high salt content that can inhibit the AD process. Anaerobic co-digestion, together with manure, can resolve the inhibitory effects of saline biomass in order to dilute the salt concentration and establish favorable conditions for the microbial consortia of the AD process. The present laboratory study investigated the co-digestion of S. ramosissima (Sram), and pig manure (PM) in batch and semi-continuous stirred tank reactors (CSTR) under mesophilic (38oC) conditions. The 0.5L batch reactor experiments were in mono- and co-digestion of Sram: PM using different percent volatile solid (VS) based ratios (0:100, 15:85, 25:75, 35:65, 50:50, 100:0) with an inoculum to substate (I/R) ratio of 2. Two 5L CSTR systems (R1 and R2) were operated for 133 days with a feed of PM in a control reactor (R1) and with a co-digestion feed in an increasing Sram VS ratio of Sram: PM of 15:85, 25:75, 35:65 in reactor R2 at an organic loading rate (OLR) of 2 gVS/L/d and hydraulic retention time (HRT) of 20 days. After a start-up phase of 8 weeks for both reactors R1 and R2 with PM feed alone, the halophyte biomass Sram was added to the feed of R2 in an increasing ratio of 15 – 35 %VS Sram over an 11-week period. The process performance was monitored by pH, total solid (TS), VS, total nitrogen (TN), ammonium-nitrogen (NH4 – N), volatile fatty acids (VFA), and biomethane production. In the batch experiments, biomethane yields of 423, 418, 392, 365, 315, and 214 mL-CH4/gVS were achieved for mixtures of 0:100, 15:85, 25:75, 35:65, 50:50, 100:0 %VS Sram: PM, respectively. In the semi-continuous reactor processes, the average biomethane yields were 235, 387, and 365 mL-CH4/gVS for the phase of a co-digestion feed ratio in R2 of 15:85, 25:75, and 35:65 %VS Sram: PM, respectively. The methane yield of PM alone in R1 was in the corresponding phases on average 260, 388, and 446 mL-CH4/gVS. Accordingly, in the continuous AD process, the methane yield of the halophyte Sram was highest at 386 mL-CH4/gVS in the co-digestion ratio of 25:75%VS Sram: PM and significantly lower at 15:85 %VS Sram: PM (100 mL-CH4/gVS) and at 35:65 %VS Sram (214 mL-CH4/gVS). The co-digestion process showed no signs of inhibition at 2 – 4 g/L NH4 – N, 3.5 – 4.5 g/L TN, and total VFA of 0.45 – 2.6 g/L (based on Acetic, Propionic, Butyric and Valeric acid). This study demonstrates that a stable co-digestion process of S. ramosissima and pig manure can be achieved with a feed of 25%VS Sram at HRT of 20 d and OLR of 2 gVS/L/d.

Keywords: anaerobic co-digestion, biomethane production, halophytes, pig manure, salicornia ramosissima

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Authors: Hany El Said Fawaz

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This study deals with numerical simulation using a commercial package 'ANSYS FLUENT 14.5' for flow characteristics of a flanged diffuser wind turbine. Influence of geometrical parameters such as flange height, diffuser length, and expansion angle on the lift and drag performance were investigated. As the angle of expansion increases, a considerable flow acceleration through the diffuser occur at expansion angle ranged from 0° and 12° due to the presence of undisturbed streamlines. after that flow circulation is developed near the diffuser outlet and increase with increasing expansion angle which causes a negligible effect of expansion angle. The effect of diffuser length on flow behavior shows that when the diffuser length ratio is less than 1.25, flow acceleration is observed and increased with diffuser length ratio. After this value, the flow field at diffuser outlet is characterized by a recirculation zone. The diffuser flange has an impact effect of the flow behavior as a low pressure zone is developed behind the flange, while a high pressure zone is generated in front of it. As the flange height increase, the intensity of both low and high pressure regions increase which tend to accelerate the flow inside the diffuser till flange height ratio reaches to 0.75.

Keywords: wind turbine, flanged diffuser, expansion angle, diffuser length

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Authors: Tu-Chieh Hung, Wei-Mon Yan, Xiao-Dong Wang, Yu-Xian Huang

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This work employs a combined optimization procedure including a simplified conjugate-gradient method and a three-dimensional fluid flow and heat transfer model to study the optimal geometric parameter design of double-layered microchannel heat sinks. The overall thermal resistance RT is the objective function to be minimized with number of channels, N, the channel width ratio, β, the bottom channel aspect ratio, αb, and upper channel aspect ratio, αu, as the search variables. It is shown that, for the given bottom area (10 mm×10 mm) and heat flux (100 W cm-2), the optimal (minimum) thermal resistance of double-layered microchannel heat sinks is about RT=0.12 ℃/m2W with the corresponding optimal geometric parameters N=73, β=0.50, αb=3.52, and, αu= 7.21 under a constant pumping power of 0.05 W. The optimization process produces a maximum reduction by 52.8% in the overall thermal resistance compared with an initial guess (N=112, β=0.37, αb=10.32 and, αu=10.93). The results also show that the optimal thermal resistance decreases rapidly with the pumping power and tends to be a saturated value afterward. The corresponding optimal values of parameters N, αb, and αu increase while that of β decrease as the pumping power increases. However, further increasing pumping power is not always cost-effective for the application of heat sink designs.

Keywords: optimization, double-layered microchannel heat sink, simplified conjugate-gradient method, thermal resistance

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Authors: Fatma H. Galal, Alaaeddeen M. Seufi

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Due to the increasing usage of mobile phone, experiments were designed to investigate ‎the effect of acute dose exposure on the mosquito life cycle. 50 tubes (5 ml size) ‎containing 3 ml water and a first instar larva of the mosquito, Culex univittatus were put ‎between two mobile cell phones switched on talking mode for 4 continuous hours. A ‎control group of tubes (unexposed to radiation) were used. Larval and pupal durations ‎were calculated. Furthermore, adult emergence and sex ratio were observed for both ‎treated and control larvae. Results indicated that the employed dose of radiation reduced ‎total larval duration to about half the value of control. 1st, 2nd, 3rd and 4th larval ‎durations were reduced significantly by mobile radiation when compared to controls. ‎Meanwhile pupal duration was elongated significantly by mobile radiation when ‎compared to control. Sex ratio was significantly shifted in favor of females in the case of ‎radiated mosquitoes. Successful adult emergence was decreased significantly in the case ‎of radiated insects when compared to controls. Molecular studies to investigate the ‎effects of mobile radiation on insects and other model organisms are going on.‎

Keywords: mosquito, mobilr radiation, larval and pupal durations, sex ratio

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Authors: Abimbola Adedeji, Ahmad Shauqi Zubir

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This paper examines the profitability and risk between investing in gold exchange traded funds (ETFs) and gold mutual funds compares to gold prices. The main focus in determining whether there are similarities or differences between those financial products is the tracking error. The importance of understanding the similarities or differences between the gold ETFs, gold mutual funds and gold prices is derived from the fact that gold ETFs and gold mutual funds are used as substitutions for investors who are looking to profit from gold prices although they are short in capital. 10 hypotheses were tested. There are 3 types of tracking error used. Tracking error 1 and 3 gives results that differentiate between types of ETFs and mutual funds, hence yielding the answers in answering the hypotheses that were developed. However, tracking error 2 failed to give the answer that could shed light on the questions raised in this study. All of the results in tracking error 2 technique only telling us that the difference between the ups and downs of the financial instruments are similar, statistically to the physical gold prices movement.

Keywords: gold etf, gold mutual funds, tracking error

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Authors: Yves Alain Ach, Sandra Rmadi Said

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An extensive review of literature in relation to brands has shown that little research has focused on the nature and determinants of the information disclosed by companies with respect to the brands they own and use. The objective of this paper is to address this issue. More specifically, the aim is to characterize the nature of the information disclosed by companies in terms of estimating the value of brands and to identify the determinants of that information according to the company’s characteristics most frequently tested by previous studies on the disclosure of information on intangible capital, by studying the practices of a sample of 37 French companies. Our findings suggest that companies prefer to communicate accounting, economic and strategic information in relation to their brands instead of providing financial information. The analysis of the determinants of the information disclosed on brands leads to the conclusion that the groups which operate internationally and have chosen a category 1 auditing firm to communicate more information to investors in their annual report. Our study points out that the sector is not an explanatory variable for voluntary brand disclosure, unlike previous studies on intangible capital. Our study is distinguished by the study of an element that has been little studied in the financial literature, namely the determinants of brand-related information. With regard to the effect of size on brand-related information disclosure, our research does not confirm this link. Many authors point out that large companies tend to publish more voluntary information in order to respond to stakeholder pressure. Our study also establishes that the relationship between brand information supply and performance is insignificant. This relationship is already controversial by previous research, and it shows that higher profitability motivates managers to provide more information, as this strengthens investor confidence and may increase managers' compensation. Our main contribution focuses on the nature of the inherent characteristics of the companies that disclose the most information about brands. Our results show the absence of a link between size and industry on the one hand and the supply of brand information on the other, contrary to previous research. Our analysis highlights three types of information disclosed about brands: accounting, economics and strategy. We, therefore, question the reasons that may lead companies to voluntarily communicate mainly accounting, economic and strategic information in relation to our study from one year to the next and not to communicate detailed information that would allow them to reconstitute the financial value of their brands. Our results can be useful for companies and investors. Our results highlight, to our surprise, the lack of financial information that would allow investors to understand a better valuation of brands. We believe that additional information is needed to improve the quality of accounting and financial information related to brands. The additional information provided in the special report that we recommend could be called a "report on intangible assets”.

Keywords: brand related information, brand value, information disclosure, determinants

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Authors: Mojtaba Taheri, Saied Reza Ameli

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In this research, we have calculated the effect of membership in international climate change treaties for 20 developed countries based on the human development index (HDI) and compared this effect with the process of pollutant reduction in the Environmental Kuznets Curve (EKC) theory. For this purpose, the data related to The real GDP per capita with 2010 constant prices is selected from the World Development Indicators (WDI) database. Ecological Footprint (ECOFP) is the amount of biologically productive land needed to meet human needs and absorb carbon dioxide emissions. It is measured in global hectares (gha), and the data retrieved from the Global Ecological Footprint (2021) database will be used, and we will proceed by examining step by step and performing several series of targeted statistical regressions. We will examine the effects of different control variables, including Energy Consumption Structure (ECS) will be counted as the share of fossil fuel consumption in total energy consumption and will be extracted from The United States Energy Information Administration (EIA) (2021) database. Energy Production (EP) refers to the total production of primary energy by all energy-producing enterprises in one country at a specific time. It is a comprehensive indicator that shows the capacity of energy production in the country, and the data for its 2021 version, like the Energy Consumption Structure, is obtained from (EIA). Financial development (FND) is defined as the ratio of private credit to GDP, and to some extent based on the stock market value, also as a ratio to GDP, and is taken from the (WDI) 2021 version. Trade Openness (TRD) is the sum of exports and imports of goods and services measured as a share of GDP, and we use the (WDI) data (2021) version. Urbanization (URB) is defined as the share of the urban population in the total population, and for this data, we used the (WDI) data source (2021) version. The descriptive statistics of all the investigated variables are presented in the results section. Related to the theories of sustainable development, Environmental Kuznets Curve (EKC) is more significant in the period of study. In this research, we use more than fourteen targeted statistical regressions to purify the net effects of each of the approaches and examine the results.

Keywords: climate change, globalization, environmental economics, sustainable development, international climate treaty

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Authors: Nasir Mehmood, Muhammad Yar Khan, Anam Javeed

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This study aims to scrutinize the dynamics which tend to impact customer’s purchasing intention of Islamic credit card and nexus of product’s knowledge and religiosity with the attitude of potential Islamic credit card’s customer. The theory of reasoned action strengthened the idea that intentions due to its proven predictive power are most likely to instigate intended consumer behavior. Particularly, the study examines the relationships of perceived financial cost (PFC), subjective norms (SN), and attitude (ATT) with the intention to purchase Islamic credit cards. Using a convenience sampling approach, data have been collected from 450 customers of banks located in Rawalpindi and Islamabad. A five-point Likert scale self-administered questionnaire was used to collect the data. The data were analyzed using the Statistical Package of Social Sciences (SPSS) through the procedures of principal component and multiple regression analysis. The results suggested that customer’s religiosity and product knowledge are strong indicators of attitude towards buying Islamic credit cards. Likewise, subjective norms, attitude, and perceived financial cost have a significant positive impact on customers’ purchase intent of Islamic bank’s credit cards. This study models a useful path for future researchers to further investigate the underlined phenomenon along with a variety of psychodynamic factors which are still in its infancy, at least in the Pakistani banking sector. The study also provides an insight to the practitioners and Islamic bank managers for directing their efforts toward educating customers regarding the use of Islamic credit cards and other financial products.

Keywords: attitude, Islamic credit card, religiosity, subjective norms

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Authors: Khaled Alkadamani

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Using the simultaneous equations model, this paper examines the impact of capital requirements on bank risk-taking during the recent financial crisis. It also explores the relationship between capital and risk decisions and the impact of economic instability on this relationship. By analyzing the data of 20 Islamic commercial banks between 2004 and 2014 from four Middle East countries, the study concludes a positive effect of regulatory pressure on bank capital in Saudi Arabia and UAE and a negative effect in Jordan and Kuwait. Moreover, the results show a negative impact of regulatory pressure on bank risk taking in Saudi Arabia, Jordan and UAE. The findings reveal also that banks close to the minimum regulatory capital requirements improve their capital adequacy by increasing their capital and decreasing their risk taking. Furthermore, the results show that economic crisis negatively affects bank risk changes, suggesting that banks react to the impact of uncertainty by reducing their risk taking. Finally, the estimations show a negative correlation between banks profitability and capital adequacy ratio (CAR), implying that as more capital is set aside as a buffer for banks safety; it affects the performance of Islamic banks.

Keywords: bank capital, bank regulation, crisis, Islamic banks, risk taking

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Authors: Omar M. Elmabrouk., Roaa Y. Taha., Najat M. Ebrahim, Sabbreen A. Mohammed

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Power transformers are the most crucial part of power electrical system, distribution and transmission grid. This part is maintained using predictive or condition-based maintenance approach. The diagnosis of power transformer condition is performed based on Dissolved Gas Analysis (DGA). There are five main methods utilized for analyzing these gases. These methods are International Electrotechnical Commission (IEC) gas ratio, Key Gas, Roger gas ratio, Doernenburg, and Duval Triangle. Moreover, due to the importance of the transformers, there is a need for an accurate technique to diagnose and hence predict the transformer condition. The main objective of this technique is to avoid the transformer faults and hence to maintain the power electrical system, distribution and transmission grid. In this paper, the DGA was utilized based on the data collected from the transformer records available in the General Electricity Company of Libya (GECOL) which is located in Benghazi-Libya. The Fuzzy Logic (FL) technique was implemented as a diagnostic approach based on IEC gas ratio method. The FL technique gave better results and approved to be used as an accurate prediction technique for power transformer faults. Also, this technique is approved to be a quite interesting for the readers and the concern researchers in the area of FL mathematics and power transformer.

Keywords: dissolved gas-in-oil analysis, fuzzy logic, power transformer, prediction

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Authors: Aisha Arshad, Samina Naz Mukry, Tahir Shamsi

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Background: Immune thrombocytopenia (ITP) is an autoimmune disorder. Besides platelets counts, immature platelets fraction (IPF) can be used as tool to predict megakaryocytic activity in ITP patients. The clinical biomarkers like Neutrophils to lymphocytes ratio (NLR) and platelet to lymphocytes ratio(PLR) predicts inflammation and can be used as prognostic markers.The present study was planned to assess the ratios in ITP and their utility in predicting prognosis after treatment. Methods: A total of 111 patients of ITP with same number of healthy individuals were included in this case control study during the period of January 2015 to December 2017.All the ITP patients were grouped according to guidelines of International working group of ITP. A 3cc blood was collected in EDTA tube and blood parameters were evaluated using Sysmex 1000 analyzer.The ratios were calculated by using absolute counts of Neutrophils,Lymphocytes and platelets.The significant (p=<0.05) difference between ITP patients and healthy control groups was determined by Kruskal wallis test, Dunn’s test and spearman’s correlation test was done using SPSS version 23. Results: The significantly raised total leucocytes counts (TLC) and IPF along with low platelets counts were observed in ITP patients as compared to healthy controls.In ITP groups,very low platelet count with median and IQR of 2(3.8)3x109/l with highest mean and IQR IPF 25.4(19.8)% was observed in newly diagnosed ITP group. The NLR was high with prognosis of disease as higher levels were observed in P-ITP. The PLR was significantly low in ND-ITP ,P-ITP, C-ITP, R-ITP and compared to controls with p=<0.001 as platelet were less in number in all ITP patients. Conclusion: The IPF can be used in evaluation of bone marrow response in ITP. The simple, reliable and calculated NLR and PLR ratios can be used in predicting prognosis and response to treatment in ITP and to some extend the severity of disease.

Keywords: neutrophils, platelets, lymphocytes, infection

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Authors: Jhansi Rani Boda, G. Sunitha

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Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.

Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors

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Authors: Bakr Ali Al-Gamrh, Ku Nor Izah B. Ku Ismail

Abstract:

We investigate the relationship between corporate governance, leverage, risk, and firm performance. We use a firm level panel that spans the period 2008 to 2012 of all listed firms on Abu Dhabi Stock Exchange and Dubai Financial Market. After constructing an index of corporate governance strength, we find a negative effect of corporate governance on firm performance. We, however, discover that corporate governance strength indirectly improves the negative influence of leverage on firm performance in normal times. On the contrary, the results completely reversed when there is a black swan event. Corporate governance strength plays a significantly negative role in moderating the relationship between leverage and firm performance during the financial crisis. We also reveal that corporate governance strength increases firms’ risk and deteriorates performance during crisis. Results provide evidence that corporate governance indirectly plays a completely different role in different time periods.

Keywords: corporate governance, firm performance, risk, leverage, the UAE

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Authors: Claire Norman-Maillet

Abstract:

Insider fraud, otherwise known as occupational, employee, or internal fraud, is a financial crime threat. Perpetrated by defrauding (or attempting to defraud) one’s current, prospective, or past employer, an ‘employee’ covers anyone employed by the company, including board members and contractors. The Coronavirus pandemic has forced insider fraud into the spotlight, and it isn’t dimming. As the focus of most academics and practitioners has historically been on that of ‘external fraud’, insider fraud is often overlooked or not considered to be a real threat. However, since COVID-19 changed the working world, pushing most of us into remote or hybrid working, employers cannot easily keep an eye on what their staff are doing, which has led to reliance on trust and transparency. This, therefore, brings about an increased risk of insider fraud perpetration. The objective of this paper is to explore why insider fraud is, therefore, now the biggest threat to a business. To achieve the research objective, participating individuals within the financial crime sector (either as a practitioner or consultants) attended semi-structured interviews with the researcher. The principal recruitment strategy for these individuals was via the researcher’s LinkedIn network. The main findings in the research suggest that insider fraud has been ignored and rejected as a threat to a business, owing to a reluctance to admit that a colleague may perpetrate. A positive of the Coronavirus pandemic is that it has forced insider fraud into a more prominent position and giving it more importance on a business’ agenda and risk register. Despite insider fraud always having been a possibility (and therefore a risk) within any business, it is very rare that a business has given it the attention it requires until now, if at all. The research concludes that insider fraud needs to prioritised by all businesses, and even ahead of external fraud. The research also provides advice on how a business can add new or enhance existing controls to mitigate the risk.

Keywords: insider fraud, occupational fraud, COVID-19, COVID, coronavirus, pandemic, internal fraud, financial crime, economic crime

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Authors: An Cheng, Hui-Mi Hsu, Sao-Jeng Chao, Wei-Ting Lin

Abstract:

This study investigated the mechanical properties and durability of concrete produced using recycled fine aggregate (RFA) pre-coated with fly ash, slag, and a polymer solution (PVA). We investigated the physical and microscopic properties of fresh concrete while adjusting several of the fabrication parameters, such as the constituent makeup and thickness of RFA pre-coatings. The study is divided into two parts. The first part involves mortar testing in which the RFA used for coating had a water/cement ratio of 0.5 and fly ash, slag, and PVA viscosity of 5~6cps, 21~26cps, 25~30cps, or 44~50cps. In these tests, 100% of the natural fine aggregate was replaced by RCA. The second part of the study involved the mixing of concrete with 25% FRA, which was respectively coated with fly ash, slag, or PVA at a viscosity of 44~50cps. In these tests, the water/cement ratio was either .4 or 0.6. The major findings in this study are summarized as follows: Coating RFA coated with fly ash and PVA was shown to increase flow in the fresh concrete; however, the coating of FRA with slag resulted in a slight decrease in flow. Coating FRA with slag was shown to improve the compressive and splitting strength to a greater degree than that achieved by coating FRA with fly ash and PVA. The mechanical properties of concrete mixed with slag were shown to increase with the thickness of the coating. Coating FRA with slag was also shown to enhance the durability of the concrete, regardless of the water/cement ratio.

Keywords: recycled fine aggregates, pre-coated, fly ash, slag, pre-coated thickness

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Authors: Mojtaba Ghodsi, Hamidreza Ziaifar, Morteza Mohammadzaheri, Payam Soltani

Abstract:

In this paper, the performance of a medium power (25 kW/25 kHz) hybrid inverter with a reactive transformer is investigated. To analyze the sensitivity of the inverster, the RSM technique is employed to manifest the effective factors in the inverter to minimize current passing through the Insulated Bipolar Gate Transistors (IGBTs) (current stress). It is revealed that the ratio of the axillary inductor to the effective inductance of resonant inverter (N), is the most effective parameter to minimize the current stress in this type of inverter. In practice, proper selection of N mitigates the current stress over IGBTs by five times. This reduction is very helpful to keep the IGBTs at normal temperatures.

Keywords: analytical analysis, hybrid resonant inverter, reactive transformer, response surface method

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Authors: Amir R. Askari, Masoud Tahani

Abstract:

The objective of the present paper is to investigate the effect of size on the vibrational behavior of fully clamped rectangular micro-plates based on the modified couple stress theory (MCST). To this end, a size-dependent Kirchhoff plate model is considered and the equation of motion which accounts for the effect of residual and couple stress components is derived using the Hamilton's principle. The eigenvalue problem associated with the free vibrations of fully clamped micro-plates is extracted and solved analytically using the extended Kantorovich method (EKM). The present findings are compared and validated by available results in the literature and an excellent agreement between them is observed. A parametric study is also conducted to show the significant effects of couple stress components on natural frequencies of fully clamped micro-plates. It is found that the ratio of MCST natural frequencies to those obtained by the classical theory (CT) only depends on the Poisson's ratio of the plate and is totally independent of plate's aspect ratio for cases with no residual stresses.

Keywords: vibrational analysis, modified couple stress theory, fully clamped rectangular micro-plates, extended Kantorovich method.

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Authors: Usman Bawa

Abstract:

Macro-invertebrates have been used to monitor organic pollution in rivers and streams. Several biotic indices based on macro-invertebrates have been developed over the years including the Biological Monitoring Working Party (BMWP). A new biotic index, the Gammarus:Asellus ratio has been recently proposed as an index of organic pollution. This study tested the validity of the Gammarus:Asellus ratio as an index of organic pollution, by examining the relationship between the Gammarus:Asellus ratio and physical-chemical parameters, and other biotic indices such as BMWP and, Average Score Per Taxon (ASPT) from lakes and streams at Markeaton Park, Allestree Park, and Kedleston Hall, Derbyshire. Macro invertebrates were sampled using the standard five-minute kick sampling techniques physical and chemical environmental variables were obtained based on standard sampling techniques. Eighteen sites were sampled, six sites from Markeaton Park (three sites across the stream and three sites across the lake). Six sites each were also sampled from Allestree Park and Kedleston Hall lakes. The Gammarus:Asellus ratio showed an opposite significant positive correlations with parameters indicative of organic pollution such as the level of nitrates, phosphates, and calcium and also revealed a negatively significant correlations with other biotic indices (BMWP/ASPT). The BMWP score correlated positively significantly with some water quality parameters such as dissolved oxygen and flow rate, but revealed no correlations with other chemical environmental variables. The BMWP score was significantly higher in the stream than the lake in Markeaton Park, also The ASPT scores appear to be significantly higher in the upper Lakes than the middle and lower lakes. This study has further strengthened the use of BMWP/ASPT score as an index of organic pollution. But, additional application is required to validate the use of Gammarus:Asellus as a rapid bio monitoring tool.

Keywords: Asellus, biotic index, Gammarus, macro invertebrates, organic pollution

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Authors: Sari K. Ishii

Abstract:

This study considers a wider viewpoint to connect migration studies with questions about financial capitalism, which seeks cheap, disposable labour transnationally. This study offers insight into whether the current state of immigration acceptance contributes to stabilizing the aging society of the nation in the long term or merely fulfills the ephemeral requirements of industries. The analyses in this study focused on three aspects. First, it examined how many migrants in Japan joined the labour market. Second, it analyzed the number of migrants that are aging. Third, it determined the number of dependent migrants accepted through labour migrants. The study findings raise further questions for future empirical studies to verify the schema of financial capitalism through the lens of migration. The scheme of seeking cheap, disposable labour transnationally may result in the descendants of both locals and mobilized labour becoming more unstable than the prior generations.

Keywords: migration, aging society, low fertility rate, Japan

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Authors: Ni'mal Baroya, Andrei Ramani, Irma Prasetyowati

Abstract:

The access to reproduction health services, including with safe and effective contraception were human rights regardless of social stratum and residence. In addition to individual factors, family and contextual factors were also believed to be the cause in the use of contraceptive methods. This study aimed to assess the determinants of long-term contraceptive methods (LTCM) by considering all the factors at either the individual level or contextual level. Thereby, this study could provide basic information for program development of prevalence enhancement of MKJP in East Java. The research, which used cross-sectional design, utilized Riskesdas 2013 data, particularly in East Java Province for further analysis about multilevel modeling of MKJP application. The sample of this study consisted of 20.601 married women who were not in pregnant that were drawn by using probability sampling following the sampling technique of Riskesdas 2013. Variables in this study were including the independent variables at the individual level that consisted of education, age, occupation, access to family planning services (KB), economic status and residence. As independent variables in district level were the Human Development Index (HDI, henceforth as IPM) in each districts of East Java Province, the ratio of field officers, the ratio of midwives, the ratio of community health centers and the ratio of doctors. As for the dependent variable was the use of Long-Term Contraceptive Method (LTCM or MKJP). The data were analyzed by using chi-square test and Pearson product moment correlation. The multivariable analysis was using multilevel logistic regression with 95% of Confidence Interval (CI) at the significance level of p < 0.05 and 80% of strength test. The results showed a low CPR LTCM was concentrated in districts in Madura Island and the north coast. The women which were 25 to 35 or more than 35 years old, at least high school education, working, and middle-class social status were more likely to use LTCM or MKJP. The IPM and low PLKB ratio had implications for poor CPR LTCM / MKJP.

Keywords: multilevel, long-term contraceptive methods, east java, contextual factor

Procedia PDF Downloads 244