Search results for: Dhaka stock exchange

Authors: Sandeep Kaur

Abstract:

Phycoerythrin (PE) from the mesophilic filamentous cyanobacterium Nostoc piscinale PUPCCC 405.17, a good producer of phycobiliproteins, has been characterized in terms of their unit assembly and stability. The phycoerythrin was extracted by freeze-thawing the cells in water, concentrated by ammonium sulphate fractionation and purified by anion exchange chromatography. The purification process resulted in 2.90 fold increase in phycoerythrin purity reaching to 1.54. Sodium Dodecyl Sulphate- Polyacrylamide Gel Electrophoresis of purified PE demonstrated three protein bands of 14.3, 27.54 and 39.81 kDa. The native PE also showed one band of 125.87 kDa, assumed to be a dimer (αβ)2γ based on results of non-denaturing PAGE. Lyophilized powder PE was more stable compared to phycoerythrin in the solution. The half-life of dry PE is 80 days when stored at 4 °C under dark. The phycoerythrin from this organism has potential applications in food as natural colour and as a fluorescent marker.

Keywords: characterization, Nostoc piscinale, phycoerythrin, purification

Procedia PDF Downloads 138

Authors: Yun-Ho Ahn, Hyery Kang, Dong-Yeun Koh, Huen Lee

Abstract:

In this study, we demonstrate the production of natural gas hydrates from permeable marine sediments with simultaneous mechanisms for methane recovery and methane-air or methane-air/carbon dioxide replacement. The simultaneous melting happens until the chemical potentials become equal in both phases as natural gas hydrate depletion continues and self-regulated methane-air replacement occurs over an arbitrary point. We observed certain point between dissociation and replacement mechanisms in the natural gas hydrate reservoir, and we call this boundary as critical methane concentration. By the way, when carbon dioxide was added, the process of chemical exchange of methane by air/carbon dioxide was observed in the natural gas hydrate. The suggested process will operate well for most global natural gas hydrate reservoirs, regardless of the operating conditions or geometrical constraints.

Keywords: air injection, carbon dioxide sequestration, hydrate production, natural gas hydrate

Procedia PDF Downloads 456

Authors: N. Behidj, K. Benyounes, T. Dahmane, A. Allem

Abstract:

The aim of this study was to investigate the antimicrobial activity of flavonoids isolated from the aerial part of a medicinal plant which is Thymus inodorusby the middle agar diffusion method on following microorganisms. We have Staphylococcus aureus, Escherichia coli, Pseudomonas fluorescens, AspergillusNiger, Aspergillus fumigatus and Candida albicans. During this study, flavonoids extracted by stripping with steam are performed. The yields of flavonoids is 7.242% for the aqueous extract and 28.86% for butanol extract, 29.875% for the extract of ethyl acetate and 22.9% for the extract of di - ethyl. The evaluation of the antibacterial effect shows that the diameter of the zone of inhibition varies from one microorganism to another. The operation values obtained show that the bacterial strain P fluoresces, and 3 yeasts and molds; A. Niger, A. fumigatus and C. albicansare the most resistant. But it is noted that, S. aureus is shown more sensitive to crude extracts, the stock solution and the various dilutions. Finally for the minimum inhibitory concentration is estimated only with the crude extract of Thymus inodorus flavonoid.Indeed, these extracts inhibit the growth of Gram + bacteria at a concentration varying between 0.5% and 1%. While for bacteria to Gram -, it is limited to a concentration of 0.5%.

Keywords: antimicrobial activity, organic extracts, aqueous extracts, Thymus numidicus

Procedia PDF Downloads 184

Authors: Yangrae Cho, Jinseok Kim, Yongtae Park

Abstract:

Mobile app service ecosystem has been abruptly emerged, explosively grown, and dynamically transformed. In contrast with product markets in which product sales directly cause increment in firm’s income, customer’s usage is less visible but more valuable in service market. Especially, the market situation with cutthroat competition in mobile app store makes securing and keeping of users as vital. Although a few service firms try to manage their apps’ usage patterns by fitting on S-curve or applying other forecasting techniques, the time series approaches based on past sequential data are subject to fundamental limitation in the market where customer’s attention is being moved unpredictably and dynamically. We therefore propose a new conceptual approach for detecting usage pattern of mobile app service with Hidden Markov Model (HMM) which is based on the dual stochastic structure and mainly used to clarify unpredictable and dynamic sequential patterns in voice recognition or stock forecasting. Our approach could be practically utilized for app service firms to manage their services’ lifecycles and academically expanded to other markets.

Keywords: mobile app service, usage pattern, Hidden Markov Model, pattern detection

Procedia PDF Downloads 335

Authors: Syed Kashif Ali, Usman Javaid, Abdullah Chohan

Abstract:

In large enterprises multiple departments use different sort of information systems and databases according to their needs. These systems are independent and heterogeneous in nature and sharing information/data between these systems is not an easy task. The usage of middleware technologies have made data sharing between systems very easy. However, monitoring the exchange of data/information for verification purposes between target and source systems is often complex or impossible for maintenance department due to security/access privileges on target and source systems. In this paper, we are intended to present our experience of an end to end data monitoring approach at middle ware level implemented in Oracle BPEL for data verification without any help of monitoring tool.

Keywords: service level agreement, SOA, BPEL, oracle fusion middleware, web service monitoring

Procedia PDF Downloads 478

Authors: Chengfang Wang, Zichao Wu, Jianying Zhou

Abstract:

At present, much attention is paid to the development of new industrial parks in the era of inventory planning. Generally speaking, there are two types of development models: incremental development models and stock development models. The former relies on key projects to build a value innovation park, and the latter relies on the iterative update of the park to build a value innovation park. Take the Baiyun Western Digital Park as an example, considering the growth model of value units, determine the evaluation target. Based on a GIS platform, comprehensive land-use status, regulatory detailed planning, land use planning, blue-green ecological base, rail transit system, road network system, industrial park distribution, public service facilities, and other factors are used to carry out the land use within the planning multi-factor superimposed comprehensive evaluation, constructing a value unit evaluation system, and delineating value units based on implementation orientation and combining two different development models. The research hopes to provide a reference for the planning and construction of new domestic industrial parks.

Keywords: value units, GIS, multi-factor evaluation, implementation orientation

Procedia PDF Downloads 188

Authors: Silas A. Ihedioha

Abstract:

In this work; it is considered that an investor’s portfolio is comprised of two assets; a risky stock which price process is driven by the geometric Brownian motion and a risk-free asset with Ornstein-Uhlenbeck Stochastic interest rate of return, where consumption, taxes, transaction costs and dividends are involved. This paper aimed at the optimization of the investor’s expected utility of consumption and terminal return on his investment at the terminal time having power utility preference. Using dynamic optimization procedure of maximum principle, a second order nonlinear partial differential equation (PDE) (the Hamilton-Jacobi-Bellman equation HJB) was obtained from which an ordinary differential equation (ODE) obtained via elimination of variables. The solution to the ODE gave the closed form solution of the investor’s problem. It was found the optimal investment in the risky asset is horizon dependent and a ratio of the total amount available for investment and the relative risk aversion coefficient.

Keywords: optimal, investment, Ornstein-Uhlenbeck, utility maximization, stochastic interest rate, maximum principle

Procedia PDF Downloads 224

Authors: Sanat Kumar, Rahul Kumar Tiwari

Abstract:

At this time when society is becoming increasingly aware of the declining reserves of fossil, it has become apparent that biodiesel is destined to make a substantial contribution to the future energy demands of the domestic and industrial economies. In this regard, the significance of biodiesel is technically and commercially viable alternative to fossil-diesel. There are different potential feed stocks for biodiesel production. This paper analyses the performance, combustion and emission characteristics of biodiesel from different feed stocks. Biodiesel fuel is considered as offering many benefits like reduction of greenhouse gas emissions and many harmful pollutants (PM, HC, CO etc.). This paper critically reviews the effect of injection timing on combustion and emission characteristics. An attempt has been carried out to discuss the effect of biodiesel in terms of combustion, emission and performance based up on composition and properties. The results of the study show that different chemical composition leads to variation in its combustion, performance and emission characteristics. Biodiesel produced from different aspired feed stocks reduces the pollutant emission and resistive to oxidation but exhibit poor atomization. As a conclusion many research needs to be carried out to understand the relationship between the types of biodiesel feed stock, performance conclusion and emission.

Keywords: atomization, biodiesel, greenhouse gas, oxidation

Procedia PDF Downloads 563

Authors: M. Al Azri, M. Elzain, K. Bouziane, S. M. Chérif

Abstract:

The electronic and magnetic properties of 6H-SiC with Mn impurities have been calculated using ab-initio calculations. Various configurations of Mn sites and Si and C vacancies were considered. The magnetic coupling between the two Mn atoms at substitutional and interstitials sites with and without vacancies is studied as a function of Mn atoms interatomic distance. It was found that the magnetic interaction energy decreases with increasing distance between the magnetic atoms. The energy levels appearing in the band gap due to vacancies and due to Mn impurities are determined. The calculated DOS’s are used to analyze the nature of the exchange interaction between the impurities. The band coupling model based on the p-d and d-d level repulsions between Mn and SiC has been used to describe the magnetism observed in each configuration. Furthermore, the impacts of applying U to Mn-d orbital on the magnetic moment have also been investigated. The results are used to understand the experimental data obtained on Mn- 6H-SiC (as-implanted and as –annealed) for various Mn concentration (CMn = 0.7%, 1.6%, 7%).

Keywords: ab-initio calculations, diluted magnetic semiconductors, magnetic properties, silicon carbide

Procedia PDF Downloads 289

Authors: Ahn Yun-Ho, Hyery Kang, Koh Dong-Yeun, Huen Lee

Abstract:

In this study, we demonstrate the production of natural gas hydrates from permeable marine sediments with simultaneous mechanisms for methane recovery and methane-air or methane-air/carbon dioxide replacement. The simultaneous melting happens until the chemical potentials become equal in both phases as natural gas hydrate depletion continues and self-regulated methane-air replacement occurs over an arbitrary point. We observed certain point between dissociation and replacement mechanisms in the natural gas hydrate reservoir, and we call this boundary as critical methane concentration. By the way, when carbon dioxide was added, the process of chemical exchange of methane by air/carbon dioxide was observed in the natural gas hydrate. The suggested process will operate well for most global natural gas hydrate reservoirs, regardless of the operating conditions or geometrical constraints.

Keywords: air injection, carbon dioxide sequestration, hydrate production, natural gas hydrate

Procedia PDF Downloads 571

Authors: Farhan Beg

Abstract:

This paper presents a method for the efficient implementation of a unidirectional or bidirectional DC/DC converter. The DC/DC converter is used essentially for energy exchange between the low voltage service battery and a high voltage battery commonly found in Electric Vehicle applications. In these applications, apart from cost, efficiency of design is an important characteristic. A useful way to reduce the size of electronic equipment in the electric vehicles is proposed in this paper. The technique simplifies the mechanical complexity and maximizes the energy usage using the latest converter control techniques. Moreover a bidirectional battery charger for hybrid electric vehicles is also implemented in this paper. Several simulations on the test system have been carried out in Matlab/Simulink environment. The results exemplify the robustness of the proposed design methodology in case of a 1.5 KW DC-DC converter.

Keywords: DC-DC converters, electric vehicles, power electronics, direct current control

Procedia PDF Downloads 724

Authors: Komlan Sedzro

Abstract:

We apply the non-parametric, unconditional, hyperbolic order-α quantile estimator to appraise the relative efficiency of Microfinance Institutions in Africa in terms of outreach. Our purpose is to verify if these institutions, which must constantly try to strike a compromise between their social role and financial sustainability are operationally efficient. Using data on African MFIs extracted from the Microfinance Information eXchange (MIX) database and covering the 2004 to 2006 periods, we find that more efficient MFIs are also the most profitable. This result is in line with the view that social performance is not in contradiction with the pursuit of excellent financial performance. Our results also show that large MFIs in terms of asset and those charging the highest fees are not necessarily the most efficient.

Keywords: data envelopment analysis, microfinance institutions, quantile estimation of efficiency, social and financial performance

Procedia PDF Downloads 305

Authors: Maha Hammami, Olfa Benouda Sioud

Abstract:

This study investigates the reliability of management earnings forecasts with reference to these two ingredients: verifiability and neutrality. Specifically, we examine the biasedness (or accuracy) of management earnings forecasts and company specific characteristics that can be associated with accuracy. Based on sample of 102 IPO prospectuses published for admission on NYSE Euronext Paris from 2002 to 2010, we found that these forecasts are on average optimistic and two of the five test variables, earnings variability and financial leverage are significant in explaining ex post bias. Acknowledging the possibility that the bias is the result of the managers’ forecasting behavior, we then examine whether managers decide to under-predict, over-predict or forecast accurately for self-serving purposes. Explicitly, we examine the role of financial distress, operating performance, ownership by insiders and the economy state in influencing managers’ forecasting preferences. We find that managers of distressed firms seem to over-predict future earnings. We also find that when managers are given more stock options, they tend to under-predict future earnings. Finally, we conclude that the management earnings forecasts are affected by an intentional bias due to managers’ forecasting preferences.

Keywords: intentional bias, management earnings forecasts, neutrality, verifiability

Procedia PDF Downloads 234

Authors: B. Bahloul

Abstract:

This study investigates the structural, electronic, and optical properties of LiH and NaH compounds, as well as their ternary mixed crystals LiₓNa1-ₓH, adopting a face-centered cubic structure with space group Fm-3m (number 225). The structural and electronic characteristics are examined using density functional theory (DFT), while empirical methods, specifically the modified Moss relation, are employed for analyzing optical properties. The exchange-correlation potential is determined through the generalized gradient approximation (PBEsol-GGA) within the density functional theory (DFT) framework, utilizing the projected augmented wave pseudopotentials (PAW) approach. The Quantum Espresso code is employed for conducting these calculations. The calculated lattice parameters at equilibrium volume and the bulk modulus for x=0 and x=1 exhibit good agreement with existing literature data. Additionally, the LiₓNa1-ₓH alloys are identified as having a direct band gap.

Keywords: DFT, structural, electronic, optical properties

Procedia PDF Downloads 69

Authors: Quang M. Dinh

Abstract:

Stigmatogobius pleurostigma is a commercial fish being caught increasingly in the Mekong Delta. Although it plays an important role for food supply, little is known about this species including morphology, distribution and growth pattern. Meanwhile, its population and age structure is unknown. The present study was conducted in the Mekong Delta to provide new data on population parameters of this goby species. The von Bertalanffy growth parameters were L∞= 8.6 cm, K = 0.83 yr⁻¹, and t0 = -0.07 yr⁻¹ basing on length frequency data analysis of 601 individuals. The fish total length at first capture was 3.8 cm; and fishing, natural and total mortalities of the fish population were 2.31 yr⁻¹, 1.17 yr⁻¹, and 3.48 yr⁻¹ respectively. The maximum fish yield (Eₘₐₓ), economic yield (E₀.₁) and yield of 50% reduction of exploitation (E₅₀) rates were 0.704, 0.555 and 0.335 based on the relative yield-per-recruit and biomass-per-recruit analyses. The fish longevity was 3.61 yr, and growth performance was 1.79. Three fish age groups were recorded in this study (0+, 1+ and 2+). The species is a potential aquaculture candidate because of its high growth parameter. This goby stock was overexploited in the Mekong Delta as its exploitation rate (E=0.34) was higher than E₅₀ (0.335). The mesh size of gillnets should be increased and avoid catching fish in June, recruitment time, for future sustainable fishery management.

Keywords: Stigmatogobius pleurostigma, age, population structure, Vietnam

Procedia PDF Downloads 202

Authors: Nabeel Safdar, Qian Aimin

Abstract:

Corporate philanthropy is important, as the donations have been considered as a source to improve the image of business entity in modern era of high competition. We used data on annual basis from 2000 to 2014 for 1,248 firms listed at Shanghai and Shenzhen stock exchanges. Results for giving firms reveal that there is curve linear relation of profitability and CP, as profitable firms utilize cash in an efficient way and have fewer amounts of slack resource and tradeoff among stakeholder and agency cost made it more justifiable. We found that more profitability does not mean that the cash flows are available, actually good performing firms or profitable firm also good at cash management. Cash is utilized in an effective way by profitable firms, and have fewer extents of slack resources which generate curvilinear relationship of profitability with Corporate Philanthropy. We found that the trend of Corporate Philanthropy also got affected due to natural disasters. Analysis made by innovation, slack resources and directors salary revealed the positive significant relationship. It is not compulsory that firm should be only profitable for engaging in philanthropy rather they should have abundant slack resources to donate.

Keywords: corporate philanthropy, free cash flows, natural disasters, profitability

Procedia PDF Downloads 307

Authors: Astha Sinha, Anjali Kanagali

Abstract:

The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain.

Keywords: Brexit, Brexit impact on UK, impact of Brexit on banking, impact of Brexit on financial services

Procedia PDF Downloads 406

Authors: Qamar Iqbal

Abstract:

Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs.

Keywords: inventory classification, supply chain responsiveness, forecast, manufacturing environment

Procedia PDF Downloads 594

Authors: Dong Wei, Wu Jinxiu

Abstract:

As China's urban construction enters a new phase of 'stock optimization,' the key point of urban development has shifted to the development and reuse of existing public space. However, cities still face a series of challenges, such as the shortage of space quantity and insufficient space quality, which indirectly affect urban vitality. A review of the vitality of urban public space will significantly contribute to optimizing the quality of the urban built environment. It firstly analyses the research hotspots of urban vitality at home and abroad, based on a semi-systematic literature review. Then this paper summarizes the theoretical definitions of the vitality of urban public space and sorts out the influencing factors from the perspectives of society, environment, and users. Lastly, the paper concludes with the mainstream quantitative and evaluation methods, such as linear evaluation and integrated evaluation. This paper renders a multi-theoretical perspective to understand the characteristics and evaluation system of the vitality of public space, which helps to acknowledge the dynamic relationship between users, urban environment, and vitality. It also looks forward to providing optimal design strategies for constructing a vigorous public space in future cities.

Keywords: public space, quantification of vitality, spatial vitality, urban vitality

Procedia PDF Downloads 109

Authors: Vaidehi Iyer, Konstantin Borozdin

Abstract:

Time series prediction problems have many important practical applications, but are notoriously difficult for statistical modeling. Recently, machine learning methods have been attracted significant interest as a practical tool applied to a variety of problems, even though developments in this field tend to be semi-empirical. This paper explores application of Long Short Term Memory based Recurrent Neural Networks to the one-step prediction of time series for both trend and stochastic components. Two types of data are analyzed - daily stock prices, that are often considered to be a typical example of a random walk, - and weather patterns dominated by seasonal variations. Results from both analyses are compared, and reinforced learning framework is used to select more efficient between Recurrent Neural Networks and more traditional auto regression methods. It is shown that both methods are able to follow long-term trends and seasonal variations closely, but have difficulties with reproducing day-to-day variability. Future research directions and potential real world applications are briefly discussed.

Keywords: long short term memory, prediction methods, recurrent neural networks, reinforcement learning

Procedia PDF Downloads 227

Authors: M. Fakhim Lamrani, M. Ouchri, M. Belaiche, El Kenz, M. Loulidi, A. Benyoussef

Abstract:

Electronic and magnetic calculations based on density functional theory within the generalized gradient approximation for II-VI compound semiconductor TiO2 doped with single impurity Os and Mo; these compounds are a half metallic ferromagnet in their ground state with a total magnetic moment of 2 μB for both systems. Then, TiO2 doped with double impurities Os and Mo have been performed. As result, Ti1-2xOsxMoxO2 with x=0.065 is half-metallic antiferromagnets with 100% spin polarization of the conduction electrons crossing the Fermi level, without showing a net magnetization. Moreover, Ti14OsMoO32 compound is stable energetically than Ti1-xMoxO2 and Ti1-xOsxO2. The antiferromagnetic interaction in Ti1-2xOsxMoxO2 system is attributed to the double exchange mechanism, and the latter could also be the origin of their half metallic.

Keywords: diluted magnetic semiconductor, half-metallic antiferromagnetic, augmented spherical wave method

Procedia PDF Downloads 420

Authors: Zemlianskaya Daria, Egor Stadnichuk, Ekaterina Svechnikova

Abstract:

Relativistic runaway electron avalanches (RREAs) are generally accepted as a source of thunderstorms gamma-ray radiation. Avalanches' dynamics in the electric fields can lead to their multiplication via gamma-rays and positrons, which is called relativistic feedback. This report shows that a non-uniform electric field geometry leads to the new RREAs multiplication mechanism - “geometric feedback”, which occurs due to the exchange of high-energy particles between different accelerating regions within a thundercloud. This report will present the results of the simulation in GEANT4 of feedback in a spherical cell. Necessary conditions for the occurrence of geometric feedback were obtained from it.

Keywords: electric field, GEANT4, gamma-rays, relativistic runaway electron avalanches (RREAs), relativistic feedback, the thundercloud

Procedia PDF Downloads 171

Authors: Quang Minh Dinh, Jian Guang Qin, Sabine Dittmann, Dinh Dac Tran

Abstract:

The age and population structure the dermal gopy Parapocryptes serperaster were studied using length distributions, otolith and von Bertalanffy model in the Mekong Delta over a whole year through monthly sampling. The sex ratio of P. serperaster was near 1:1, and von Bertalanffy growth parameters were L∞= 25.2 cm, K = 0.74 yr-1, and t0 = -0.22 yr-1. Fish size at first entry to fishery was 14.6 cm, and fishing mortality (1.57 yr-1) and natural mortality (1.51 yr-1) accounted for 51% and 49% of the total mortality (3.07 yr-1), respectively. Relative yield-per-recruit and biomass-per-recruit analyses revealed the levels of maximum exploitation yield (Emax = 0.83), maximum economic yield (E0.1 = 0.71) and the yield at 50% reduction of exploitation (E0.5 = 0.37). Otoliths from 164 female and 196 male gobies were readable, and the otolith morphometry data were used for age identification. The mean age estimated by reading otolith annual rings and by analysing length frequency distribution was consistent. This study shows that the otolith morphometry is a reliable method for aging this goby and possibly also applicable for other tropical gobies. The fishery analysis indicates that this goby stock has not been overexploited in the Mekong Delta.

Keywords: Parapcryptes serperaster, otolith, age, pulation structure, Vietnam

Procedia PDF Downloads 654

Authors: Seon-Hack Hong, Tae-Il Choi

Abstract:

Interoperability is defined as systems, components, and devices developed by different entities smoothly exchanging information and functioning organically without mutual consultation, being able to communicate with each other and computer systems of the same type or different types, and exchanging information or the ability of two or more systems to exchange information and use the information exchanged without extra effort. Insufficiencies such as duplication of functions when developing systems and applications due to lack of interoperability in the electric power system and low efficiency due to a lack of mutual information transmission system between the inside of the application program and the design is improved, and the seamless linkage of newly developed systems is improved. Since it is necessary to secure interoperability for this purpose, we designed the smart grid-based interoperability standard model in this paper.

Keywords: interoperability, power system, common information model, SCADA, IEEE2030, Zephyr

Procedia PDF Downloads 121

Authors: Yu-Chen Wei, Yang-Cheng Lu, I-Chi Lin

Abstract:

This study examines the impacts of news sentiment and press freedom on abnormal returns during the earnings announcement in greater China including the Shanghai, Shenzhen and Taiwan stock markets. The news sentiment ratio is calculated by using the content analysis of semantic orientation. The empirical results show that news released prior to the event date may decrease the cumulative abnormal returns prior to the earnings announcement regardless of whether it is released in China or Taiwan. By contrast, companies with optimistic financial news may increase the cumulative abnormal returns during the announcement date. Furthermore, the difference in terms of press freedom is considered in greater China to compare the impact of press freedom on abnormal returns. The findings show that, the freer the press is, the more negatively significant will be the impact of news on the abnormal returns, which means that the press freedom may decrease the ability of the news to impact the abnormal returns. The intuition is that investors may receive alternative news related to each company in the market with greater press freedom, which proves the efficiency of the market and reduces the possible excess returns.

Keywords: news, press freedom, Greater China, earnings announcement, abnormal returns

Procedia PDF Downloads 392

Authors: T. M. Ismail, M. A. El-Salam

Abstract:

A mathematical model study was carried out to investigate gasification of biomass fuels using high-temperature air and steam as a gasifying agent using high-temperature air up to 1000°C. In this study, a 2D computational fluid dynamics model was developed to study the gasification process in an updraft gasifier, considering drying, pyrolysis, combustion, and gasification reactions. The gas and solid phases were resolved using a Euler−Euler multiphase approach, with exchange terms for the momentum, mass, and energy. The standard k−ε turbulence model was used in the gas phase, and the particle phase was modeled using the kinetic theory of granular flow. The results show that the present model giving a promising way in its capability and sensitivity for the parameter effects that influence the gasification process.

Keywords: computational fluid dynamics, gasification, biomass fuel, fixed bed gasifier

Procedia PDF Downloads 404

Authors: Marc S. Paolella, Pawel Polak

Abstract:

The paper proposes a framework for large-scale portfolio optimization which accounts for all the major stylized facts of multivariate financial returns, including volatility clustering, dynamics in the dependency structure, asymmetry, heavy tails, and non-ellipticity. It introduces a so-called risk fear portfolio strategy which combines portfolio optimization with active risk monitoring. The former selects optimal portfolio weights. The latter, independently, initiates market exit in case of excessive risks. The strategy agrees with the stylized fact of stock market major sell-offs during the initial stage of market downturns. The advantages of the new framework are illustrated with an extensive empirical study. It leads to superior multivariate density and Value-at-Risk forecasting, and better portfolio performance. The proposed risk fear portfolio strategy outperforms various competing types of optimal portfolios, even in the presence of conservative transaction costs and frequent rebalancing. The risk monitoring of the optimal portfolio can serve as an early warning system against large market risks. In particular, the new strategy avoids all the losses during the 2008 financial crisis, and it profits from the subsequent market recovery.

Keywords: comfort, financial crises, portfolio optimization, risk monitoring

Procedia PDF Downloads 523

Authors: Wendong Yang, Changhai Wang, Valeria Arrighi

Abstract:

Low ink sintering temperature is desired for flexible electronics, as it would widen the application of the ink on temperature-sensitive substrates where the selection of silver precursor is very critical. In this paper, four types of organic silver precursors, silver carbonate, silver oxalate, silver tartrate and silver itaconate, were synthesized using an ion exchange method, firstly. Various characterization methods were employed to investigate their physical phase, chemical composition, morphologies and thermal decomposition behavior. It was found that silver oxalate had the ideal thermal property and showed the lowest decomposition temperature. An ink was then formulated by complexing the as-prepared silver oxalate with ethylenediamine in organic solvents. Results show that a favorable conductive film with a uniform surface structure consisting of silver nanoparticles and few voids could be produced from the ink at a sintering temperature of 150 °C.

Keywords: conductive ink, electrical property, film, organic silver

Procedia PDF Downloads 329

Authors: S. Rostampour Yasouri, M. Ghane

Abstract:

Leptospirosis is one the most important common diseases between human and live stock occurred by different species of Leptospira. This disease has been construed as the native in the northern provinces of Iran and risk of the infection with pathogenic is high. One hundred fifteen samples of water (67), soil (36) and feces of rodents (12) were collected from the rice fields of the suburbs of Tonekabon Township situated in northern part of Iran in 2012. The samples, after passage from membranous filters, were cultured in the liquid and solid EMJH medium and incubated at 30°C for 1 month. Leptospira spp. were isolated using culture technique, and the plates were studied from viewpoint of colony formation, microscopic observations and then identified by phenotyping tests. Finally, the identification of Leptospira genus was verified by PCR technique and 16S rRNA gene sequencing. Of 115 samples totally, 55 samples (47.82%) became positive by use of the culture technique which the positive cases included 47 water samples (70.14%) and 8 soil samples (22.22%), while the isolation was not accomplished from the sample of the rodents feces. Overall, according to these data, Leptospira spp. exists with high frequency in North Iran. Hence, based on foregoing evidence environments in the north of Iran are vehicles of Leptospira spp.

Keywords: EMJH Medium, Leptospira, Northern of Iran, rice fields

Procedia PDF Downloads 177

Authors: Norah Almubairik, Wadha Almattar, Amani Alqarni

Abstract:

Social media applications are increasingly being used in our everyday communications. These applications utilise end-to-end encryption mechanisms, which make them suitable tools for criminals to exchange messages. These messages are preserved in the volatile memory until the device is restarted. Therefore, volatile forensics has become an important branch of digital forensics. In this study, the WormHex tool was developed to inspect the memory dump files of Windows and Mac-based workstations. The tool supports digital investigators to extract valuable data written in Arabic and English through web-based WhatsApp and Twitter applications. The results verify that social media applications write their data into the memory regardless of the operating system running the application, with there being no major differences between Windows and Mac.

Keywords: volatile memory, REGEX, digital forensics, memory acquisition

Procedia PDF Downloads 188