Search results for: price to earnings growth
6471 Using “Eckel” Model to Measure Income Smoothing Practices: The Case of French Companies
Authors: Feddaoui Amina
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Income smoothing represents an attempt on the part of the company's management to reduce variations in earnings through the manipulation of the accounting principles. In this study, we aimed to measure income smoothing practices in a sample of 30 French joint stock companies during the period (2007-2009), we used Dummy variables method and “ECKEL” model to measure income smoothing practices and Binomial test accourding to SPSS program, to confirm or refute our hypothesis. This study concluded that there are no significant statistical indicators of income smoothing practices in the sample studied of French companies during the period (2007-2009), so the income series in the same sample studied of is characterized by stability and non-volatility without any intervention of management through accounting manipulation. However, this type of accounting manipulation should be taken into account and efforts should be made by control bodies to apply Eckel model and generalize its use at the global level.Keywords: income, smoothing, 'Eckel', French companies
Procedia PDF Downloads 1526470 Generalized Additive Model Approach for the Chilean Hake Population in a Bio-Economic Context
Authors: Selin Guney, Andres Riquelme
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The traditional bio-economic method for fisheries modeling uses some estimate of the growth parameters and the system carrying capacity from a biological model for the population dynamics (usually a logistic population growth model) which is then analyzed as a traditional production function. The stock dynamic is transformed into a revenue function and then compared with the extraction costs to estimate the maximum economic yield. In this paper, the logistic population growth model for the population is combined with a forecast of the abundance and location of the stock by using a generalized additive model approach. The paper focuses on the Chilean hake population. This method allows for the incorporation of climatic variables and the interaction with other marine species, which in turn will increase the reliability of the estimates and generate better extraction paths for different conservation objectives, such as the maximum biological yield or the maximum economic yield.Keywords: bio-economic, fisheries, GAM, production
Procedia PDF Downloads 2526469 Evaluation of the Urban Landscape Structures and Dynamics of Hawassa City, Using Satellite Images and Spatial Metrics Approaches, Ethiopia
Authors: Berhanu Terfa, Nengcheng C.
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The study deals with the analysis of urban expansion and land transformation of Hawass City using remote sensing data and landscape metrics during last three decades (1987–2017). Remote sensing data from Various multi-temporal satellite images viz., TM (1987), TM (1995), ETM+ (2005) and OLI (2017) were used to examine the urban expansion, growth types, and spatial isolation within the urban landscape to develop an understanding the trends of built-up growth in Hawassa City, Ethiopia. Landscape metrics and built-up density were employed to analyze the pattern, process and overall growth status. The area under investigation was divided into concentric circles with a consecutive circle of 1 km incremental radius from the central pixel (Central Business District) for analysis. The result exhibited that the built-up area had increased by 541.32% between 1987 and 2017and an extension growth types (more than 67 %) was observed. The major growth took place in north-west direction followed by north direction in haphazard manner during 1987–1995 period, whereas predominant built-up development was observed in south and southwest direction during 1995–2017 period. Land scape metrics result revealed that the of urban patches density, total edge and edge density increased, while mean nearest neighbors’ distance decreased showing the tendency of sprawl.Keywords: landscape metrics, spatial patterns, remote sensing, multi-temporal, urban sprawl
Procedia PDF Downloads 2866468 Biofertilization of Cucumber (Cucumis sativus L.) Using Trichoderma longibrachiatum
Authors: Kehinde T. Kareem
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The need to increase the production of cucumber has led to the use of inorganic fertilizers. This chemical affects the ecological balance of nature by increasing the nitrogen and phosphorus contents of the soil. Surface runoffs into rivers and streams cause eutrophication which affects aquatic organisms as well as the consumers of aquatic animals. Therefore, this study was carried out in the screenhouse to investigate the use of a plant growth-promoting fungus; Trichoderma longibrachiatum for the growth promotion of conventional and in-vitro propagated Ashley and Marketmoor cucumber. Before planting of cucumber, spore suspension (108 cfu/ml) of Trichoderma longibrachiatum grown on Potato dextrose agar (PDA) was inoculated into the soil. Fruits were evaluated for the presence of Trichoderma longibrachiatum using a species-specific primer. Results revealed that the highest significant plant height produced by in-vitro propagated Ashley was 19 cm while the highest plant height of in-vitro propagated Marketmoor was 19.67 cm. The yield of the conventional propagated Ashley cucumber showed that the number of fruit/plant obtained from T. longibrachiatum-fertilized plants were significantly more than those of the control. The in-vitro Ashely had 7 fruits/plant while the control produced 4 fruits/plant. In-vitro Marketmoor had ten fruits/plant, and the control had a value of 4 fruits/plant. There were no traces of Trichoderma longibrachiatum genes in the harvested cucumber fruits. Therefore, the use of Trichoderma longibrachiatum as a plant growth-promoter is safe for human health as well as the environment.Keywords: biofertilizer, cucumber, genes, growth-promoter, in-vitro, propagation
Procedia PDF Downloads 2446467 Economics of Oil and Its Stability in the Gulf Region
Authors: Al Mutawa A. Amir, Liaqat Ali, Faisal Ali
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After the World War II, the world economy was disrupted and changed due to oil and its prices. The research in this paper presents the basic statistical features and economic characteristics of the Gulf economy. The main features of the Gulf economies and its heavy dependence on oil exports, its dualism between modern and traditional sectors and its rapidly increasing affluences are particularly emphasized. In this context, the research in this paper discussed the problems of growth versus development and has attempted to draw the implications for the future economic development of this area.Keywords: oil prices, GCC, economic growth, gulf oil
Procedia PDF Downloads 3356466 Effects of Organic Manure on the Growth of Jatropha curcas in Kogi State North Central Nigeria
Authors: S. O. Amhakhian, M. Idenyi
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A pot experiment was conducted to assess the effects of organic manure on the growth of Jatropha curcas L seedlings at the Faculty of Agriculture, Kogi State University, Anyigba. There were seven treatments, namely, three (3) levels of poultry droppings (PD) (20g, 40g and 60g/kg soil) designated as T1, T2 and T3 respectively, three (3) levels of solid cattle dung (CD) (40g, 80g and 120g/kg soil designated as T4, T5, and T6) respectively, and control (no organic manure) designated as T7. All the treatments were replicated three (3) times. Jathopha curcas L seeds were sown into the polythene pot and observed for the period of six (6) weeks. Growth parameters measured were plant height, leaf count, stem girth, numbers of branches, and fresh weight. Mean separation using F-LSD0.05 showed that 120g cow dung/kg soil (T6) gave optional level of organic manure required for Jatropha curcas throughout the growth period of the seedlings. All the treatments having organic manure were significantly better than the control (P < 0.05) except at two weeks after planting where all the treatments gave the same number of leaves and at the sixth week after planting where only 120g cow dung/kg soil (T6) showed significant difference (P <0.05) in the number of branches. As a result, 120g cow dung/kg soil (T6) is therefore recommended for raising Jatrophus curcas L seedlings in Anyigba, Kogi State.Keywords: Jatropha curcas, cow-dungs, seedlings, poultry dropping, polythene-pot
Procedia PDF Downloads 3186465 Synergetic Effect of Dietary Essential Amino Acids (Lysine and Methionine) on the Growth, Body Composition and Enzymes Activities of Genetically Male Tilapia
Authors: Noor Khan, Hira Waris
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This study was conducted on genetically male tilapia (GMT) fry reared in glass aquarium for three months to examine the synergetic effect of essential amino acids (EAA) supplementation on growth, body composition, and enzyme activities. Fish having average body weight of 16.56 ± 0.42g were fed twice a day on artificial feed (20% crude protein) procured from Oryza Organics (commercial feed) supplemented with EAA; methionine (M) and lysine (L) designated as T1 (0.3%M and 2%L), T2 (0.6%M and 4%L), T3 (0.9%M and 6%L) and control without EAA. Significantly higher growth performance was observed in T1, followed by T2, T3, and control. The results revealed that whole-body dry matter and crude protein were significantly higher (p ≤ 0.05) in T3 (0.9% and 6%) feeding fish, while the crude fat was lower (p ≤ 0.05) in a similar group of fish. Additionally, protease, amylase, and lipase activities were also observed maximum (p ≤ 0.05) in response to T3 than other treatments and control. However, the EAA, especially lysine and methionine, were found significantly higher (p ≤ 0.05) in T1 compared to other treatments. Conclusively, the addition of EAA, methionine, and lysine in the feed not only enhanced the growth performance of GMT fry but also improved body proximate composition and essential amino acid profile.Keywords: genetically male tilapia, body composition, digestive enzyme activities, amino acid profile
Procedia PDF Downloads 1476464 Financial Inclusion from the Perspective of Social Innovation: The Case of Colombia
Authors: Maria Luisa Jaramillo, Alvaro Turriago Hoyos, Ulf Thoene
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Financial inclusion has become a crucially important factor in debates on economic inequality posing challenges to the financial systems of countries around the world. Nowadays, governments and banks are concerned about creating products that allow access to wide sectors of the population. The creation of banking products by the financial sector for people with low incomes tends to lead to improvements in the quality of life of vulnerable parts of the population. In countries with notable social and economic inequalities financial inclusion is a key aspect for equitable economic growth. This study is based on the case of Colombia, which is a country with a strong record of economic growth over the past decade. Nevertheless, corruption, unemployment, and poverty contribute to uncertainty regarding the country’s future growth prospects. This study wants to explain the situation of financial exclusion and financial inclusion with respect to the Colombian case. Financial inclusion is going to be studied from the perspective of social innovation.Keywords: Colombia, financial exclusion, financial inclusion, social innovation
Procedia PDF Downloads 3236463 A Biomechanical Perfusion System for Microfluidic 3D Bioprinted Structure
Authors: M. Dimitri, M. Ricci, F. Bigi, M. Romiti, A. Corvi
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Tissue engineering has reached a significant milestone with the integration of 3D printing for the creation of complex bioconstructs equipped with vascular networks, crucial for cell maintenance and growth. This study aims to demonstrate the effectiveness of a portable microperfusion system designed to adapt dynamically to the evolving conditions of cell growth within 3D-printed bioconstructs. The microperfusion system was developed to provide a constant and controlled flow of nutrients and oxygen through the integrated vessels in the bioconstruct, replicating in vivo physiological conditions. Through a series of preliminary experiments, we evaluated the system's ability to maintain a favorable environment for cell proliferation and differentiation. Measurements of cell density and viability were performed to monitor the health and functionality of the tissue over time. Preliminary results indicate that the portable microperfusion system not only supports but optimizes cell growth, effectively adapting to changes in metabolic needs during the bioconstruct maturation process. This research opens perspectives in tissue engineering, demonstrating that a portable microperfusion system can be successfully integrated into 3D-printed bioconstructs, promoting sustainable and uniform cell growth. The implications of this study are far-reaching, with potential applications in regenerative medicine and pharmacological research, providing a platform for the development of functional and complex tissues.Keywords: biofabrication, microfluidic perfusion system, 4D bioprinting
Procedia PDF Downloads 306462 Trends in Domestic Terms of Trade of Agricultural Sector of Pakistan
Authors: Anwar Hussain, Muhammad Iqbal
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The changes in the prices of the agriculture commodities combined with changes in population and agriculture productivity affect farmers’ profitability and standard of living. This study intends to estimate various domestic terms of trade for agriculture sector and also to assess the volatility in the standard of living and profitability of farmers. The terms of trade has been estimated for Pakistan and its provinces using producer prices indices, consumer price indices, input prices indices and quantity indices using the data for the period 1990-91 to 2008-09. The domestic terms of trade of agriculture sector has been improved in terms of both approaches i.e. the ratio of producer prices indices to consumer prices indices and the real per capita income approach. However, the cross province estimates indicated that the terms of trade also improved for Khyber Pakhtunkhwa, Sindh and Punjab while Balochistan’s domestic terms of trade deteriorated drastically. In other words the standard of living of the farmers in Pakistan and its provinces except Balochistan improved. Using the input prices, the domestic terms of trade deteriorated for Pakistan as a whole and its provinces as well. This also explores that as a whole the profitability of the farmers reduced during the study period. The farmers pay more prices for inputs as compared to they receive for their produce. This further indicates that the poverty at the gross root level has been increased. Further, summing, the standard of living of the farmers improved but their profitability reduced, which indicates that the farmers do not completely rely on the farm income but also utilize some other sources of income for their livelihood. The study supports to give subsidies on farm inputs so as to improve the profitability of the farmers.Keywords: agricultural terms of trade, farmers’ profitability, farmers’ standard of living, consumer and producer price indices, quantity indices
Procedia PDF Downloads 4666461 Algae Growth and Biofilm Control by Ultrasonic Technology
Authors: Vojtech Stejskal, Hana Skalova, Petr Kvapil, George Hutchinson
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Algae growth has been an important issue in water management of water plants, ponds and lakes, swimming pools, aquaculture & fish farms, gardens or golf courses for last decades. There are solutions based on chemical or biological principles. Apart of these traditional principles for inhibition of algae growth and biofilm production there are also physical methods which are very competitive compared to the traditional ones. Ultrasonic technology is one of these alternatives. Ultrasonic emitter is able to eliminate the biofilm which behaves as a host and attachment point for algae and is original reason for the algae growth. The ultrasound waves prevent majority of the bacteria in planktonic form becoming strongly attached sessile bacteria that creates welcoming layer for the biofilm production. Biofilm creation is very fast – in the serene water it takes between 30 minutes to 4 hours, depending on temperature and other parameters. Ultrasound device is not killing bacteria. Ultrasound waves are passing through bacteria, which retract as if they were in very turbulent water even though the water is visually completely serene. In these conditions, bacteria does not excrete the polysaccharide glue they use to attach to the surface of the pool or pond, where ultrasonic technology is used. Ultrasonic waves decrease the production of biofilm on the surfaces in the selected area. In case there are already at the start of the application of ultrasonic technology in a pond or basin clean inner surfaces, the biofilm production is almost absolutely inhibited. This paper talks about two different pilot applications – one in Czech Republic and second in United States of America, where the used ultrasonic technology (AlgaeControl) is coming from. On both sites, there was used Mezzo Ultrasonic Algae Control System with very positive results not only on biofilm production, but also algae growth in the surrounding area. Technology has been successfully tested in two different environments. The poster describes the differences and their influence on the efficiency of ultrasonic technology application. Conclusions and lessons learned can be possibly applied also on other sites within Europe or even further.Keywords: algae growth, biofilm production, ultrasonic solution, ultrasound
Procedia PDF Downloads 2696460 Development of a Solar Energy Based Prototype, CyanoClean, for Arsenic Removal from Water with the Use of a Cyanobacterial Consortium in Field Conditions of India
Authors: Anurakti Shukla, Sudhakar Srivastava
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Cyanobacteria are known for rapid growth rates, high biomass, and the ability to accumulate potentially toxic elements and contaminants. The present work was planned to develop a low-cost, feasible prototype, CyanoClean, for the growth of a cyanobacterial consortium for the removal of arsenic (As) from water. The cyanobacterial consortium consisting of Oscillatoria, Phormidiumand Gloeotrichiawas used, and the conditions for optimal growth of the consortium were standardized. A pH of 7.6, initial cyanobacterial biomass of 10 g/L, and arsenite [As(III)] and arsenate [As(V)] concentration of 400 μΜand 600 μM, respectively, were found to be suitable. The CyanoClean prototype was designed with acrylic sheet and had arrangements for optimal cyanobacterial growth in natural sunlight and also in artificial light. The As removal experiments in concentration- and duration-dependent manner demonstrated removal of up to 39-69% and 9-33% As respectively from As(III) and As(V)-contaminated water. In field testing of CyanoClean, natural As-contaminated groundwater was used, and As reduction was monitored when a flow rate of 3 L/h was maintained. In a field experiment, As concentration in groundwater was found to reduce from 102.43 μg L⁻¹ to <10 μg L⁻¹ after 6 h in natural sunlight. However, in shaded conditions under artificial light, the same result was achieved after 9 h. The CyanoClean prototype is of simple design and can be easily up-scaled for application at a small- to medium-size land and shall be affordable even for a low- to middle-income group farmer.Keywords: cyanoclean, gloeotrichia, oscillatoria, phormidium, phycoremediation
Procedia PDF Downloads 1436459 Crack Growth Life Prediction of a Fighter Aircraft Wing Splice Joint Under Spectrum Loading Using Random Forest Regression and Artificial Neural Networks with Hyperparameter Optimization
Authors: Zafer Yüce, Paşa Yayla, Alev Taşkın
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There are heaps of analytical methods to estimate the crack growth life of a component. Soft computing methods have an increasing trend in predicting fatigue life. Their ability to build complex relationships and capability to handle huge amounts of data are motivating researchers and industry professionals to employ them for challenging problems. This study focuses on soft computing methods, especially random forest regressors and artificial neural networks with hyperparameter optimization algorithms such as grid search and random grid search, to estimate the crack growth life of an aircraft wing splice joint under variable amplitude loading. TensorFlow and Scikit-learn libraries of Python are used to build the machine learning models for this study. The material considered in this work is 7050-T7451 aluminum, which is commonly preferred as a structural element in the aerospace industry, and regarding the crack type; corner crack is used. A finite element model is built for the joint to calculate fastener loads and stresses on the structure. Since finite element model results are validated with analytical calculations, findings of the finite element model are fed to AFGROW software to calculate analytical crack growth lives. Based on Fighter Aircraft Loading Standard for Fatigue (FALSTAFF), 90 unique fatigue loading spectra are developed for various load levels, and then, these spectrums are utilized as inputs to the artificial neural network and random forest regression models for predicting crack growth life. Finally, the crack growth life predictions of the machine learning models are compared with analytical calculations. According to the findings, a good correlation is observed between analytical and predicted crack growth lives.Keywords: aircraft, fatigue, joint, life, optimization, prediction.
Procedia PDF Downloads 1756458 On the Limits of Board Diversity: Impact of Network Effect on Director Appointments
Authors: Vijay Marisetty, Poonam Singh
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Research on the effect of director's network connections on investor welfare is inconclusive. Some studies suggest that directors' connections are beneficial, in terms of, improving earnings information, firms valuation for new investors. On the other hand, adverse effects of directorial networks are also reported, in terms of higher earnings management, options back dating fraud, reduction in firm performance, lower board monitoring. From regulatory perspective, the role of directorial networks on corporate welfare is crucial. Cognizant of the possible ill effects associated with directorial networks, large investors, for better representation on the boards, are building their own database of prospective directors who are highly qualified, however, sourced from outside the highly connected directorial labor market. For instance, following Dodd-Frank Reform Act, California Public Employees' Retirement Systems (CalPERs) has initiated a database for registering aspiring and highly qualified directors to nominate them for board seats (proxy access). Our paper stems from this background and tries to explore the chances of outside directors getting directorships who lack established network connections. The paper is able to identify such aspiring directors' information by accessing a unique Indian data sourced from an online portal that aims to match the supply of registered aspirants with the growing demand for outside directors in India. The online portal's tie-up with stock exchanges ensures firms to access the new pool of directors. Such direct access to the background details of aspiring directors over a period of 10 years, allows us to examine the chances of aspiring directors without corporate network, to enter directorial network. Using this resume data of 16105 aspiring corporate directors in India, who have no prior board experience in the directorial labor market, the paper analyses the entry dynamics in corporate directors' labor market. The database also allows us to investigate the value of corporate network by comparing non-network new entrants with incumbent networked directors. The study develops measures of network centrality and network degree based on merit, i.e. network of individuals belonging to elite educational institutions, like Indian Institute of Management (IIM) or Indian Institute of Technology (IIT) and based on job or company, i.e. network of individuals serving in the same company. The paper then measures the impact of these networks on the appointment of first time directors and subsequent appointment of directors. The paper reports the following main results: 1. The likelihood of becoming a corporate director, without corporate network strength, is only 1 out 100 aspirants. This is inspite of comparable educational background and similar duration of corporate experience; 2. Aspiring non-network directors' elite educational ties help them to secure directorships. However, for post-board appointments, their newly acquired corporate network strength overtakes as their main determinant for subsequent board appointments and compensation. The results thus highlight the limitations in increasing board diversity.Keywords: aspiring corporate directors, board diversity, director labor market, director networks
Procedia PDF Downloads 3126457 Contribution to the Study of Phenotypic, Reproduction and Growth Parameters of Sheep in Eastern Algeria
Authors: Mohammed Titaouine, Toufik Meziane, Kahramen Deghnouche, Hanane Mohamdi, Nabil Mohamdi
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In order to better understand the morphological characters and the zootechniques measures of sheeps races in the in South-East Algeria, a study that was conducted on 1344 heads, taken from 8 farms in different parts of the region, namely T’kout 1, T’kout 2, Tafrent, Barika, Sidi-Okba, Biskra, Ouled-Djellal and Msila. The results from the present study showed significant differences in the group of 14 morphological studied variables, the body length is the most important variable. Reproduction performance of 160 ewes and growth performances of 56 lambs were analysed. The analyses of the data showed that the ewes have a fertility level of 69%, a prolificacy level of 114% and a fecundity level of 79%. Lambs weigh 3.5kg at birth, 9.38kg at 30d, 13.45kg at 60d, 16.91kg at 90d and 21.51 kg at 120d. The speed of the growth level 0.20kg/d from birth to 30d, 0.14 kg/d between 30d and 60d, 0.12kg/d between 60d and 90d and 0.15kg/d between 90d and 120d. The simple born lambs were more heavy than the double born lambs. By contrast, sex was not significant for all the variables except the weight at 60d, the birth month has a significant effect on the weight at birth, at 30d, at 60d and it was no significant for the weight at 90d and at 120d.The flocks born on September, October, November, and December were more heavy than the flocks born on January, February, and March.Keywords: morphological characterization, reproduction performance, growth performances, algeria
Procedia PDF Downloads 4986456 Trade Liberalisation and South Africa’s CO2 Emissions
Authors: Marcel Kohler
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The effect of trade liberalization on environmental conditions has yielded a great deal of debate in the current energy economics literature. Although research on the relationship between income growth and CO2 emissions is not new in South Africa, few studies address the role that South Africa’s foreign trade plays in this context. This paper undertakes to investigate empirically the impact of South Africa’s foreign trade reforms over the last four decades on its energy consumption and CO2 emissions by taking into account not only the direct effect of trade on each, but also its indirect effect through income induced growth. Using co integration techniques we attempt to disentangle the long and short-run relationship between trade openness, income per capita and energy consumption and CO2 emissions in South Africa. The preliminary results of this study find support for a positive bi-directional relationship between output and CO2 emissions, as well as between trade openness and CO2. This evidence confirms the expectation that as the South African economy opens up to foreign trade and experiences growth in per capita income, the countries CO2 emissions will increase.Keywords: trade openness, CO2 emissions, cointegration, South Africa
Procedia PDF Downloads 4086455 Characteristics of Tremella fuciformis and Annulohypoxylon stygium for Optimal Cultivation Conditions
Authors: Eun-Ji Lee, Hye-Sung Park, Chan-Jung Lee, Won-Sik Kong
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We analyzed the DNA sequence of the ITS (Internal Transcribed Spacer) region of the 18S ribosomal gene and compared it with the gene sequence of T. fuciformis and Hypoxylon sp. in the BLAST database. The sequences of collected T. fuciformis and Hypoxylon sp. have over 99% homology in the T. fuciformis and Hypoxylon sp. sequence BLAST database. In order to select the optimal medium for T. fuciformis, five kinds of a medium such as Potato Dextrose Agar (PDA), Mushroom Complete Medium (MCM), Malt Extract Agar (MEA), Yeast extract (YM), and Compost Extract Dextrose Agar (CDA) were used. T. fuciformis showed the best growth on PDA medium, and Hypoxylon sp. showed the best growth on MCM. So as to investigate the optimum pH and temperature, the pH range was set to pH4 to pH8 and the temperature range was set to 15℃ to 35℃ (5℃ degree intervals). Optimum culture conditions for the T. fuciformis growth were pH5 at 25℃. Hypoxylon sp. were pH6 at 25°C. In order to confirm the most suitable carbon source, we used fructose, galactose, saccharose, soluble starch, inositol, glycerol, xylose, dextrose, lactose, dextrin, Na-CMC, adonitol. Mannitol, mannose, maltose, raffinose, cellobiose, ethanol, salicine, glucose, arabinose. In the optimum carbon source, T. fuciformis is xylose and Hypoxylon sp. is arabinose. Using the column test, we confirmed sawdust a suitable for T. fuciformis, since the composition of sawdust affects the growth of fruiting bodies of T. fuciformis. The sawdust we used is oak tree, pine tree, poplar, birch, cottonseed meal, cottonseed hull. In artificial cultivation of T. fuciformis with sawdust medium, T. fuciformis and Hypoxylon sp. showed fast mycelial growth on mixture of oak tree sawdust, cottonseed hull, and wheat bran.Keywords: cultivation, optimal condition, tremella fuciformis, nutritional source
Procedia PDF Downloads 2106454 SME Credit Financing, Financial Development and Economic Growth: A VAR Approach to the Nigerian Economy
Authors: A. Bolaji Adesoye, Alimi Olorunfemi
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This paper examines the impact of small and medium-scale enterprises (SMEs) credit financing and financial market development and their shocks on the output growth of Nigeria. The study estimated a VAR model for Nigeria using 1970-2013 annual data series. Unit root tests and cointegration are carried out. The study also explores IRFs and FEVDs in a system that includes output, commercial bank loan to SMEs, domestic credit to private sector by banks, money supply, lending rate and investment. Findings suggest that shocks in commercial bank credit to SMEs has a major impact on the output changes of Nigeria. Money supply shocks also have a sizeable impact on output growth variations amidst other financial instruments. Lastly, neutrality of investment does not hold in Nigeria as it also has impact on output fluctuations.Keywords: SMEs financing, financial development, investment, output, Nigeria
Procedia PDF Downloads 4086453 Examination of the Self-Expression Model with Reference to Luxury Watches with Particular Regard of the Buying-Reasons
Authors: Christopher Benedikt Jakob
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Human beings are intrigued by luxury watches for decades. It is fascinating that customers pay an enormous amount of money for specific wristwatch models. It is fascinating that customers of the luxury watch industry accept a yearly price increase. This behavior increases their desirability even more. Luxury watches are perceived as status symbols, but they are additionally accepted as a currency without the disadvantage of currency fluctuations. It is obvious that the symbolic value is more important as the functional value with reference to the buying-reasons as regards luxury watches. Nowadays human beings do not need a wristwatch to read the time. Tablets, notebooks, smartphones, the watch in the car and watches on public places are used to inform people about the current time. This is one of the reasons why there is a trend that people do not wear wristwatches anymore. Due to these facts, this study has the intention to give answers to the question why people invest an enormous amount of money on the consumption of luxury watches and why those watches are seen as a status symbol. The study examines why the luxury watch industry records significant growth rates. The self-expression model is used as an appropriate methodology to find reasons why human beings purchase specific luxury watches. This evaluative approach further discusses if human beings are aware of their current self and their ideal self and how they express them. Furthermore, the research critically evaluates the people’s social self and their ideal social self. One of the goals is to identify if customers know why they like specific luxury watches and dislike others although they have the same quality and cost comparable prices.Keywords: luxury watch, brand awareness, buying-behaviour, consumer, self-expression
Procedia PDF Downloads 1626452 Elasticity Model for Easing Peak Hour Demand for Metrorail Transport System
Authors: P. K. Sarkar, Amit Kumar Jain
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The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.Keywords: urban transport, differential fares, congestion, transport demand management, elasticity
Procedia PDF Downloads 3096451 The Benefits of End-To-End Integrated Planning from the Mine to Client Supply for Minimizing Penalties
Authors: G. Martino, F. Silva, E. Marchal
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The control over delivered iron ore blend characteristics is one of the most important aspects of the mining business. The iron ore price is a function of its composition, which is the outcome of the beneficiation process. So, end-to-end integrated planning of mine operations can reduce risks of penalties on the iron ore price. In a standard iron mining company, the production chain is composed of mining, ore beneficiation, and client supply. When mine planning and client supply decisions are made uncoordinated, the beneficiation plant struggles to deliver the best blend possible. Technological improvements in several fields allowed bridging the gap between departments and boosting integrated decision-making processes. Clusterization and classification algorithms over historical production data generate reasonable previsions for quality and volume of iron ore produced for each pile of run-of-mine (ROM) processed. Mathematical modeling can use those deterministic relations to propose iron ore blends that better-fit specifications within a delivery schedule. Additionally, a model capable of representing the whole production chain can clearly compare the overall impact of different decisions in the process. This study shows how flexibilization combined with a planning optimization model between the mine and the ore beneficiation processes can reduce risks of out of specification deliveries. The model capabilities are illustrated on a hypothetical iron ore mine with magnetic separation process. Finally, this study shows ways of cost reduction or profit increase by optimizing process indicators across the production chain and integrating the different plannings with the sales decisions.Keywords: clusterization and classification algorithms, integrated planning, mathematical modeling, optimization, penalty minimization
Procedia PDF Downloads 1236450 Effect of Substituting Groundnut Cake with Remnant of Food Composite on Survival and Growth of Clarias gariepinus and Oreochromis niloticus Fingerlings
Authors: M. Y. Abubakar, M. Yunisa, A. N. Muhammad
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Constraining the production Clarias gariepinus and Oreochromis niloticus culture is the prohibitive cost of feed. We assess the performance of the species fingerlings on diets substituted with composite. Four dietary treatments (0%, 25%, 45%, and 75%) for C. gariepinus and five (0%, 25%, 50%, 75%, and whole food composite) for O. niloticus were formulated and each fed to 15 fingerlings for C. gariepinus and 10 fingerlings for O. niloticus stocked in 75ltrs plastic bowls, replicated trice in a completely randomized design. The experiment lasted 56 days. Percent survival rate was significantly (p < 0.05) higher (57.78 ± 9.69) in C. gariepinus fed diet III. The growth and nutrient utilization indices were least in the fish fed diet IV, which was significantly (p < 0.05) lower than in other treatments. Fish fed dietary treatment III, recorded the best in growth and nutrient utilization indices and was significantly higher (p < 0.05) than those fed dietary treatments I & II which were non-significant (p > 0.05) and higher than those fed 75% substitution. Better profit index was in the fish fed diet with 50% substitution level. For O. niloticus, the survival (172.62 ± 39.03) was significantly higher (p < 0.05) in those fed 25% substituted diet. For growth indices, the least performed were those fed whole composite while other treatments were non-significant (p > 0.05) different from each other. In terms of nutrient utilization, fish fed diet substituted at 0%, 25%, 50% and 75% food composite had similar food conversion ratio and protein efficiency ratio. However, there was no significant difference in the profit index among the whole treatment. It can be concluded that food composite from Sokoto house-holds can optimally replace groundnut cake up to 50% level as a protein source in the diets of Clarias gariepinus and O. niloticus fingerlings without adverse effects on survival, growth, and nutrient utilization.Keywords: food composite, nutrient utilization, C. gariepinus, O. niloticus household, substitution levels
Procedia PDF Downloads 1976449 Flame Kernel Growth and Related Effects of Spark Plug Electrodes: Fluid Motion Interaction in an Optically Accessible DISI Engine
Authors: A. Schirru, A. Irimescu, S. Merola, A. d’Adamo, S. Fontanesi
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One of the aspects that are usually neglected during the design phase of an engine is the effect of the spark plug on the flow field inside the combustion chamber. Because of the difficulties in the experimental investigation of the mutual interaction between flow alteration and early flame kernel convection effect inside the engine combustion chamber, CFD-3D simulation is usually exploited in such cases. Experimentally speaking, a particular type of engine has to be used in order to directly observe the flame propagation process. In this study, a double electrode spark plug was fitted into an optically accessible engine and a high-speed camera was used to capture the initial stages of the combustion process. Both the arc and the kernel phases were observed. Then, a morphologic analysis was carried out and the position of the center of mass of the flame, relative to the spark plug position, was calculated. The crossflow orientation was chosen for the spark plug and the kernel growth process was observed for different air-fuel ratios. It was observed that during a normal cycle the flow field between the electrodes tends to transport the arc deforming it. Because of that, the kernel growth phase takes place away from the electrodes and the flame propagates with a preferential direction dictated by the flow field.Keywords: Combustion, Optically Accessible Engine, Spark-Ignition Engine, Sparl Orientation, Kernel Growth
Procedia PDF Downloads 1426448 Microvoid Growth in the Interfaces during Aging
Authors: Jae-Yong Park, Gwancheol Seo, Young-Ho Kim
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Microvoids, sometimes called Kikendall voids, generally form in the interfaces between Sn-based solders and Cu and degrade the mechanical and electrical properties of the solder joints. The microvoid formation is known as the rapid interdiffusion between Sn and Cu and impurity content in the Cu. Cu electroplating from the acid solutions has been widely used by microelectronic packaging industry for both printed circuit board (PCB) and integrated circuit (IC) applications. The quality of electroplated Cu that can be optimized by the electroplating conditions is critical for the solder joint reliability. In this paper, the influence of electroplating conditions on the microvoid growth in the interfaces between Sn-3.0Ag-0.5Cu (SAC) solder and Cu layer was investigated during isothermal aging. The Cu layers were electroplated by controlling the additive of electroplating bath and current density to induce various microvoid densities. The electroplating bath consisted of sulfate, sulfuric acid, and additives and the current density of 5-15 mA/cm2 for each bath was used. After aging at 180 °C for up to 250 h, typical bi-layer of Cu6Sn5 and Cu3Sn intermetallic compounds (IMCs) was gradually growth at the SAC/Cu interface and microvoid density in the Cu3Sn showed disparities in the electroplating conditions. As the current density increased, the microvoid formation was accelerated in all electroplating baths. The higher current density induced, the higher impurity content in the electroplated Cu. When the polyethylene glycol (PEG) and Cl- ion were mixed in an electroplating bath, the microvoid formation was the highest compared to other electroplating baths. On the other hand, the overall IMC thickness was similar in all samples irrespective of the electroplating conditions. Impurity content in electroplated Cu influenced the microvoid growth, but the IMC growth was not affected by the impurity content. In conclusion, the electroplated conditions are properly optimized to avoid the excessive microvoid formation that results in brittle fracture of solder joint under high strain rate loading.Keywords: electroplating, additive, microvoid, intermetallic compound
Procedia PDF Downloads 2596447 Mercury Removal Using Pseudomonas putida (ATTC 49128): Effect of Acclimatization Time, Speed, and Temperature of Incubator Shaker
Authors: A. A. M. Azoddein, R. M. Yunus, N. M. Sulaiman, A. B. Bustary, K. Sabar
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Microbes have been used to solve environmental problems for many years. The use microorganism to sequester, precipitate or alter the oxidation state of various heavy metals has been extensively studied. Processes by which microorganism interacts with toxic metal are very diverse. The purpose of this research is to remove the mercury using Pseudomonas putida, pure culture ATTC 49128 at optimum growth parameters such as techniques of culture, acclimatization time and speed of incubator shaker. Thus, in this study, the optimum growth parameters of P.putida were obtained to achieve the maximum of mercury removal. Based on the optimum parameters of Pseudomonas putida for specific growth rate, the removal of two different mercury concentration, 1 ppm and 4 ppm were studied. A mercury-resistant bacterial strain which is able to reduce ionic mercury to metallic mercury was used to reduce ionic mercury from mercury nitrate solution. The overall levels of mercury removal in this study were between 80% and 90%. The information obtained in this study is of fundamental for understanding of the survival of P.putida ATTC 49128 in mercury solution. Thus, microbial mercury environmental pollutants removal is a potential biological treatment for waste water treatment especially in petrochemical industries in Malaysia.Keywords: Pseudomonas putida, growth kinetic, biosorption, mercury, petrochemical waste water
Procedia PDF Downloads 6676446 Phytoadaptation in Desert Soil Prediction Using Fuzzy Logic Modeling
Authors: S. Bouharati, F. Allag, M. Belmahdi, M. Bounechada
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In terms of ecology forecast effects of desertification, the purpose of this study is to develop a predictive model of growth and adaptation of species in arid environment and bioclimatic conditions. The impact of climate change and the desertification phenomena is the result of combined effects in magnitude and frequency of these phenomena. Like the data involved in the phytopathogenic process and bacteria growth in arid soil occur in an uncertain environment because of their complexity, it becomes necessary to have a suitable methodology for the analysis of these variables. The basic principles of fuzzy logic those are perfectly suited to this process. As input variables, we consider the physical parameters, soil type, bacteria nature, and plant species concerned. The result output variable is the adaptability of the species expressed by the growth rate or extinction. As a conclusion, we prevent the possible strategies for adaptation, with or without shifting areas of plantation and nature adequate vegetation.Keywords: climate changes, dry soil, phytopathogenicity, predictive model, fuzzy logic
Procedia PDF Downloads 3236445 Some Analytical Characteristics of Red Raspberry Jams
Authors: Cristina Damian, Eduard Malcek, Ana Leahu, Sorina Ropciuc, Andrei Lobiuc
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Given the high rivalry nowadays, the food sector must offer the markets an attractive product, which at the same time has good quality and is safe from health aspects for the consumers. Known for their high content of antioxidant compounds, especially anthocyanins, which proven human health benefits, berries from the Rosaceae family plants have a significantly high level of phytochemicals: phenolic flavonoids, such as anthocyanins, ellagic acid (tannin), quercetin, gallic acid, cyanidin, pelargonidine, catechins, kaempferol and salicylic acid. Colour and bioactive compounds, such as vitamin C and anthocyanins, are important for the attractiveness of berries and their preserved products. The levels of bioactive compounds and sensory properties of the product as it reaches the consumer are dependent on raw material, i.e., berries used, processing, and storage conditions. In this study, four varieties of raspberry jam were analyzed, 3 of them purchased commercially; they were purchased at reasonable prices, precisely to include as large a sample of the consumer population as possible. The fourth assortment was made at home according to the traditional recipe without the addition of sweeteners or preservatives. As for the homemade red raspberry jam, it had a sugar concentration of 64.9%, being the most appreciated of all assortments. The homemade raspberry jam was most appreciated due to the taste and aroma of the product. The SCHWARTAU assortment was chosen in second place by the participants in the study (sensory analysis). The quality/price ratio is also valid this time, finding that a high-quality product will have a higher purchase price. Thus, the study had the role of presenting the preferences of the sample participating in the study by age categories.Keywords: red raspberry, jam, antioxidant, colour, sensory analysis
Procedia PDF Downloads 106444 Transesterification of Waste Cooking Oil for Biodiesel Production Using Modified Clinoptilolite Zeolite as a Heterogeneous Catalyst
Authors: D. Mowla, N. Rasti, P. Keshavarz
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Reduction of fossil fuels sources, increasing of pollution gases emission, and global warming effects increase the demand of renewable fuels. One of the main candidates of alternative fuels is biodiesel. Biodiesel limits greenhouse gas effects due to the closed CO2 cycle. Biodiesel has more biodegradability, lower combustion emissions such as CO, SOx, HC, PM and lower toxicity than petro diesel. However, biodiesel has high production cost due to high price of plant oils as raw material. So, the utilization of waste cooking oils (WCOs) as feedstock, due to their low price and disposal problems reduce biodiesel production cost. In this study, production of biodiesel by transesterification of methanol and WCO using modified sodic potassic (SP) clinoptilolite zeolite and sodic potassic calcic (SPC) clinoptilolite zeolite as heterogeneous catalysts have been investigated. These natural clinoptilolite zeolites were modified by KOH solution to increase the site activity. The optimum biodiesel yields for SP clinoptilolite and SPC clinoptilolite were 95.8% and 94.8%, respectively. Produced biodiesel were analyzed and compared with petro diesel and ASTM limits. The properties of produced biodiesel confirm well with ASTM limits. The density, kinematic viscosity, cetane index, flash point, cloud point, and pour point of produced biodiesel were all higher than petro diesel but its acid value was lower than petro diesel. Finally, the reusability and regeneration of catalysts were investigated. The results indicated that the spent zeolites cannot be reused directly for the transesterification, but they can be regenerated easily and can obtain high activity.Keywords: biodiesel, renewable fuel, transesterification, waste cooking oil
Procedia PDF Downloads 2386443 Numerical Design and Characterization of SiC Single Crystals Obtained with PVT Method
Authors: T. Wejrzanowski, M. Grybczuk, E. Tymicki, K. J. Kurzydlowski
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In the present study, numerical simulations of heat and mass transfer in Physical Vapor Transport reactor during silicon carbide single crystal growth are addressed. Silicon carbide is a wide bandgap material with unique properties making it highly applicable for high power electronics applications. Because of high manufacturing costs improvements of SiC production process are required. In this study, numerical simulations were used as a tool of process optimization. Computer modeling allows for cost and time effective analysis of processes occurring during SiC single crystal growth and provides essential information needed for improvement of the process. Quantitative relationship between process conditions, such as temperature or pressure, and crystal growth rate and shape of crystallization front have been studied and verified using experimental data. Basing on modeling results, several process improvements were proposed and implemented.Keywords: Finite Volume Method, semiconductors, Physica Vapor Transport, silicon carbide
Procedia PDF Downloads 4986442 Climate Change and Economic Performance in Selected Oil-Producing African Countries: A Trend Analysis Approach
Authors: Waheed O. Majekodunmi
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Climate change is a real global phenomenon and an unquestionable threat to our quest for a healthy and livable planet. It is now regarded as potentially the most monumental environmental challenge people and the planet will be confronted with over the next centuries. Expectedly, climate change mitigation was one of the central themes of COP 28. Despite contributing the least to climate change, Africa is and remains the hardest hit by the negative consequences of climate change including poor growth performance. Currently, it is being hypothesized that the high level of vulnerability and exposure to climate-related disasters, low adaptive capacity against global warming and high mitigation costs of climate change across the continent could be linked to the recent abysmal economic performance of African countries, especially in oil-producing countries where greenhouse gas emissions, is potentially more prevalent. This paper examines the impact of climate change on the economic performance of selected oil-producing countries in Africa using evidence from Nigeria, Algeria and Angola. The objective of the study is to determine whether or not climate change influences the economic performance of oil-producing countries in Africa by examining the nexus between economic growth and climate-related variables. The study seeks to investigate the effect of climate change on the pace of economic growth in African oil-producing countries. To achieve the research objectives, this study utilizes a quantitative approach by using historical and current secondary data sets to determine the relationship between climate-related variables and economic growth variables in the selected countries. The study employed numbers, percentages, tables and trend graphs to explain the trends or common patterns between climate change, economic growth and determinants of economic growth: governance effectiveness, infrastructure, macroeconomic stability and regulatory efficiency. Results from the empirical analysis of data show that the trends of economic growth and climate-related variables in the selected oil-producing countries are in the opposite directions as the increasing share of renewable energy sources in total energy consumption and the reduction in greenhouse gas emissions per capita in the oil-producing countries did not translate to higher economic growth. Further findings show that annual surface temperatures in the selected countries do not share similar trends with the food imports ratio and GDP per capita annual growth rate suggesting that climate change does not impact significantly agricultural productivity and economic growth in oil-producing countries in Africa. Annual surface temperature was also found to not share a similar pattern with governance effectiveness, macroeconomic stability and regulatory efficiency reinforcing the claim that some economic growth variables are independent of climate change. The policy implication of this research is that oil-producing African countries need to focus more on improving the macroeconomic environment and streamlining governance and institutional processes to boost their economic performance before considering the adoption of climate change adaptation and mitigation strategies.Keywords: climate change, climate vulnerability, economic growth, greenhouse gas emissions per capita, oil-producing countries, share of renewable energy in total energy consumption
Procedia PDF Downloads 53