Search results for: maximum diversification portfolio
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4585

Search results for: maximum diversification portfolio

3475 Symmetry of Performance across Lower Limb Tests between the Dominant and Non-Dominant Legs

Authors: Ghulam Hussain, Herrington Lee, Comfort Paul, Jones Richard

Abstract:

Background: To determine the functional limitations of the lower limbs or readiness to return to sport, most rehabilitation programs use some form of testing; however, it is still unknown what the pass criteria is. This study aims to investigate the differences between the dominant and non-dominant leg performances across several lower limb tasks, which are hop tests, two-dimensional (2D) frontal plane projection angle (FPPA) tests, and isokinetic muscle tests. This study also provides the reference values for the limb symmetry index (LSI) for the hop and isokinetic muscle strength tests. Twenty recreationally active participants were recruited, 11 males and 9 females (age 23.65±2.79 years; height 169.9±3.74 cm; and body mass 74.72±5.81 kg. All tests were undertaken on the dominant and non-dominant legs. These tests are (1) Hop tests, which include horizontal hop for distance and crossover hop tests, (2) Frontal plane projection angle (FPPA): 2D capturing from two different tasks, which are forward hop landing and squatting, and (3) Isokinetic muscle strength tests: four different muscles were tested: quadriceps, hamstring, ankle plantar flexor, and hip extensor muscles. The main outcome measurements were, for the (1) hop tests: maximum distance was taken when undertaking single/crossover hop for distance using a standard tape measure, (2) for the FPPA: the knee valgus angle was measured from the maximum knee flexion position using a single 2D camera, and (3) for the isokinetic muscle strength tests: three different variables were measured: peak torque, peak torque to body weight, and the total work to body weight. All the muscle strength tests have been applied in both concentric and eccentric muscle actions at a speed of 60°/sec. This study revealed no differences between the dominant and non-dominant leg performance, and 85% of LSI was achieved by the majority of the subjects in both hop and isokinetic muscle tests, and; therefore, one leg’s hop performance can define the other.

Keywords: 2D FPPA, hop tests, isokinetic testing, LSI

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3474 Trends of Seasonal and Annual Rainfall in the South-Central Climatic Zone of Bangladesh Using Mann-Kendall Trend Test

Authors: M. T. Islam, S. H. Shakif, R. Hasan, S. H. Kobi

Abstract:

Investigation of rainfall trends is crucial considering climate change, food security, and the economy of a particular region. This research aims to study seasonal and annual precipitation trends and their abrupt changes over time in the south-central climatic zone of Bangladesh using monthly time series data of 50 years (1970-2019). A trend-free pre-whitening method has been employed to make necessary adjustments for autocorrelations in the rainfall data. Trends in rainfall and their intensity have been observed using the non-parametric Mann-Kendall test and Theil-Sen estimator. Significant changes and fluctuation points in the data series have been detected using the sequential Mann-Kendall test at the 95% confidence limit. The study findings show that most of the rainfall stations in the study area have a decreasing precipitation pattern throughout all seasons. The maximum decline in the rainfall intensity has been found for the Tangail station (-8.24 mm/year) during monsoon. Madaripur and Chandpur stations have shown slight positive trends in post-monsoon rainfall. In terms of annual precipitation, a negative rainfall pattern has been identified in each station, with a maximum decrement (-) of 14.48 mm/year at Chandpur. However, all the trends are statistically non-significant within the 95% confidence interval, and their monotonic association with time ranges from very weak to weak. From the sequential Mann-Kendall test, the year of changing points for annual and seasonal downward precipitation trends occur mostly after the 90s for Dhaka and Barishal stations. For Chandpur, the fluctuation points arrive after the mid-70s in most cases.

Keywords: trend analysis, Mann-Kendall test, Theil-Sen estimator, sequential Mann-Kendall test, rainfall trend

Procedia PDF Downloads 80
3473 Financial Management Performance in Organization Profitability

Authors: Adekunle Olakunle Felix

Abstract:

Research will be based on the financial management importance within organization and its important role in non-economic and economic activities that provide us the useful information about the efficient procurement and utilization of finance in a profitable manner. Due to industrialization, financial management become a vital part of business and it is very important for the business concern that with a good financial management to earn maximum profit.

Keywords: management, business, profitability, organization, financial, efficiency

Procedia PDF Downloads 359
3472 Constructing the Joint Mean-Variance Regions for Univariate and Bivariate Normal Distributions: Approach Based on the Measure of Cumulative Distribution Functions

Authors: Valerii Dashuk

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The usage of the confidence intervals in economics and econometrics is widespread. To be able to investigate a random variable more thoroughly, joint tests are applied. One of such examples is joint mean-variance test. A new approach for testing such hypotheses and constructing confidence sets is introduced. Exploring both the value of the random variable and its deviation with the help of this technique allows checking simultaneously the shift and the probability of that shift (i.e., portfolio risks). Another application is based on the normal distribution, which is fully defined by mean and variance, therefore could be tested using the introduced approach. This method is based on the difference of probability density functions. The starting point is two sets of normal distribution parameters that should be compared (whether they may be considered as identical with given significance level). Then the absolute difference in probabilities at each 'point' of the domain of these distributions is calculated. This measure is transformed to a function of cumulative distribution functions and compared to the critical values. Critical values table was designed from the simulations. The approach was compared with the other techniques for the univariate case. It differs qualitatively and quantitatively in easiness of implementation, computation speed, accuracy of the critical region (theoretical vs. real significance level). Stable results when working with outliers and non-normal distributions, as well as scaling possibilities, are also strong sides of the method. The main advantage of this approach is the possibility to extend it to infinite-dimension case, which was not possible in the most of the previous works. At the moment expansion to 2-dimensional state is done and it allows to test jointly up to 5 parameters. Therefore the derived technique is equivalent to classic tests in standard situations but gives more efficient alternatives in nonstandard problems and on big amounts of data.

Keywords: confidence set, cumulative distribution function, hypotheses testing, normal distribution, probability density function

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3471 Metabolic Manipulation as a Strategy for Optimization of Biomass Productivity and Oil Content in the Microalgae Desmodesmus Sp.

Authors: Ivan A. Sandoval Salazar, Silvia F. Valderrama

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The microalgae oil emerges as a promising source of raw material for many industrial applications. Thus, this study had as a main focus on the cultivation of the microalgae species Desmodesmus sp. in laboratory scale with a view to maximizing biomass production and triglyceride content in the lipid fraction. Initially, culture conditions were selected to optimize biomass production, which was subsequently subjected to nutritional stress by varying nitrate and phosphate concentrations in order to increase the content and productivity of fatty acids. The culture medium BOLD 3N, nitrate and phosphate, light intensity 250,500 and 1000 μmol photons.m².s⁻¹, photoperiod of 12:12 were evaluated. Under the best conditions of the tests, a maximum cell division of 1.13 div.dia⁻¹ was obtained on the sixth day of culture, beginning of the exponential phase, and a maximum concentration of 8.42x107 cell.mL⁻¹ and dry biomass of 3.49 gL⁻¹ on the 20th day, in the stationary phase. The lipid content in the first stage of culture was approximately 8% after 12 days and at the end of the culture in the stationary phase ranged from 12% to 16% (20 days). In the microalgae grown at 250 μmol fotons.m2.s-1 the fatty acid profile was mostly polyunsaturated (52%). The total of unsaturated fatty acids, identified in this species of microalga, reached values between 70 and 75%, being qualified for use in the food and pharmaceutical industry. In addition, this study showed that the cultivation conditions influenced mainly the production of polyunsaturated fatty acids, with the predominance of γ-linolenic acid. However, in the cultures submitted to the highest the intensity of light (1000 μmol photons.m².s⁻¹) and low concentrations of nitrate and phosphate, saturated and monounsaturated fatty acids, which present greater oxidative stability, were identified mainly (60 to 70 %) being qualified for the production of biodiesel and for oleochemistry.

Keywords: microalgae, Desmodesmus sp, fatty acids, biodiesel

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3470 Mitigation Strategies in the Urban Context of Sydney, Australia

Authors: Hamed Reza Heshmat Mohajer, Lan Ding, Mattheos Santamouris

Abstract:

One of the worst environmental dangers for people who live in cities is the Urban Heat Island (UHI) impact which is anticipated to become stronger in the coming years as a result of climate change. Accordingly, the key aim of this paper is to study the interaction between the urban configuration and mitigation strategies including increasing albedo of the urban environment (reflective material), implementation of Urban Green Infrastructure (UGI) and/or a combination thereof. To analyse the microclimate models of different urban categories in the metropolis of Sydney, this study will assess meteorological parameters using a 3D model simulation tool of computational fluid dynamics (CFD) named ENVI-met. In this study, four main parameters are taken into consideration while assessing the effectiveness of UHI mitigation strategies: ambient air temperature, wind speed/direction, and outdoor thermal comfort. Layouts with present condition simulation studies from the basic model (scenario one) are taken as the benchmark. A base model is used to calculate the relative percentage variations between each scenario. The findings showed that maximum cooling potential across different urban layouts can be decreased by 2.15 °C degrees by combining high-albedo material with flora; besides layouts with open arrangements(OT1) present a highly remarkable improvement in ambient air temperature and outdoor thermal comfort when mitigation technologies applied compare to compact counterparts. Besides all layouts present a higher intensity on the maximum ambient air temperature reduction rather than the minimum ambient air temperature. On the other hand, Scenarios associated with an increase in greeneries are anticipated to have a slight cooling effect, especially on high-rise layouts.

Keywords: sustainable urban development, urban green infrastructure, high-albedo materials, heat island effect

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3469 Biocompatibility of Calcium Phosphate Coatings With Different Crystallinity Deposited by Sputtering

Authors: Ekaterina S. Marchenko, Gulsharat A. Baigonakova, Kirill M. Dubovikov, Igor A. Khlusov

Abstract:

NiTi alloys combine biomechanical and biochemical properties. This makes them a perfect candidate for medical applications. However, there is a serious problem with these alloys, such as the release of Ni from the matrix. Ni ions are known to be toxic to living tissues and leach from the matrix into the surrounding implant tissues due to corrosion after prolonged use. To prevent the release of Ni ions, corrosive strong coatings are usually used. Titanium nitride-based coatings are perfect corrosion inhibitors and also have good bioactive properties. However, there is an opportunity to improve the biochemical compatibility of the surface by depositing another layer. This layer can consist of elements such as calcium and phosphorus. The Ca and P ions form different calcium phosphate phases, which are present in the mineral part of human bones. We therefore believe that these elements must promote osteogenesis and osteointegration. In view of the above, the aim of this study is to investigate the effect of crystallinity on the biocompatibility of a two-layer coating deposited on NiTi substrate by sputtering. The first step of the research, apart from the NiTi polishing, is the layer-by-layer deposition of Ti-Ni-Ti by magnetron sputtering and the subsequent synthesis of this composite in an N atmosphere at 900 °C. The total thickness of the corrosion resistant layer is 150 nm. Plasma assisted RF sputtering was then used to deposit a bioactive film on the titanium nitride layer. A Ca-P powder target was used to obtain such a film. We deposited three types of Ca-P layers with different crystallinity and compared them in terms of cytotoxicity. One group of samples had no Ca-P coating and was used as a control. We obtained different crystallinity by varying the sputtering parameters such as bias voltage, plasma source current and pressure. XRD analysis showed that all coatings are calcium phosphate, but the sample obtained at maximum bias and plasma source current and minimum pressure has the most intense peaks from the coating phase. SEM and EDS showed that all three coatings have a homogeneous and dense structure without cracks and consist of calcium, phosphorus and oxygen. Cytotoxic tests carried out on three types of samples with Ca-P coatings and a control group showed that the control sample and the sample with Ca-P coating obtained at maximum bias voltage and plasma source current and minimum pressure had the lowest number of dead cells on the surface, around 11 ± 4%. Two other types of samples with Ca-P coating have 40 ± 9% and 21 ± 7% dead cells on the surface. It can therefore be concluded that these two sputtering modes have a negative effect on the corrosion resistance of the whole samples. The third sputtering mode does not affect the corrosion resistance and has the same level of cytotoxicity as the control. It can be concluded that the most suitable sputtering mode is the third with maximum bias voltage and plasma source current and minimum pressure.

Keywords: calcium phosphate coating, cytotoxicity, NiTi alloy, two-layer coating

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3468 Environmental, Social and Corporate Governance Reporting With Regard to Best Practices of Companies Listed on the Warsaw Stock Exchange - Selected Problems

Authors: Katarzyna Olejko

Abstract:

The need to redefine the goals and adapt the operational activities carried out in accordance with the concept of sustainable management to these goals results in the increasing importance of information on the company's activities perceived from the perspective of the effectiveness and efficiency of environmental goals implementation. The narrow scope of reporting data on a company's impact on the environment is not adequate to meet the information needs of modern investors. Reporting obligations are therefore imposed on companies in order to increase the effectiveness of corporate governance and to improve the process of assessing the achievement of environmental goals. The non-financial reporting obligations introduced in Polish legislation increased the scope of reported information. However, the lack of detailed guidelines on the method of reporting resulted in a large diversification of the scope of non-financial information, making it impossible to compare the data presented by companies. The source of information regarding the level of the implementation of standards in Environmental, social and corporate governance (ESG) is the report on compliance with best practices published by the Warsaw Stock Exchange. The document Best Practices of Warsaw Stock Exchange (WSE) Listed Companies (2021), amended by the WSE in 2021, includes the rules applicable to this area (ESG). The aim of this article is to present the level of compliance with good practices in the area of ESG by selected companies listed on the Warsaw Stock Exchange The research carried out as part of this study, which was based on information from reports on the compliance with good practices of companies listed on the Warsaw Stock Exchange that was made available in the good practice scanner, have revealed that good practices in the ESG area are implemented by companies to a limited extent. The level of their application in comparison with other rules is definitely lower. The lack of experience and clear guidelines on ESG reporting may cause some confusion, which is why conscious investors and reporting companies themselves are pinning their hopes on the Corporate Sustainability Reporting Directive (CSRD) adopted by European Parliament.

Keywords: reporting, ESG, corporate governance, best practices

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3467 Design, Development and Analysis of Combined Darrieus and Savonius Wind Turbine

Authors: Ashish Bhattarai, Bishnu Bhatta, Hem Raj Joshi, Nabin Neupane, Pankaj Yadav

Abstract:

This report concerns the design, development, and analysis of the combined Darrieus and Savonius wind turbine. Vertical Axis Wind Turbines (VAWT's) are of two type's viz. Darrieus (lift type) and Savonius (drag type). The problem associated with Darrieus is the lack of self-starting while Savonius has low efficiency. There are 3 straight Darrieus blades having the cross-section of NACA(National Advisory Committee of Aeronautics) 0018 placed circumferentially and a helically twisted Savonius blade to get even torque distribution. This unique design allows the use of Savonius as a method of self-starting the wind turbine, which the Darrieus cannot achieve on its own. All the parts of the wind turbine are designed in CAD software, and simulation data were obtained via CFD(Computational Fluid Dynamics) approach. Also, the design was imported to FlashForge Finder to 3D print the wind turbine profile and finally, testing was carried out. The plastic material used for Savonius was ABS(Acrylonitrile Butadiene Styrene) and that for Darrieus was PLA(Polylactic Acid). From the data obtained experimentally, the hybrid VAWT so fabricated has been found to operate at the low cut-in speed of 3 m/s and maximum power output has been found to be 7.5537 watts at the wind speed of 6 m/s. The maximum rpm of the rotor blade is recorded to be 431 rpm(rotation per minute) at the wind velocity of 6 m/s, signifying its potentiality of wind power production. Besides, the data so obtained from both the process when analyzed through graph plots has shown the similar nature slope wise. Also, the difference between the experimental and theoretical data obtained has shown mechanical losses. The objective is to eliminate the need for external motors for self-starting purposes and study the performance of the model. The testing of the model was carried out for different wind velocities.

Keywords: VAWT, Darrieus, Savonius, helical blades, CFD, flash forge finder, ABS, PLA

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3466 Effect of Fiber Inclusion on the Geotechnical Parameters of Clayey Soil Subjected to Freeze-Thaw Cycles

Authors: Arun Prasad, P. B. Ramudu, Deep Shikha, Deep Jyoti Singh

Abstract:

A number of studies have been conducted recently to investigate the influence of randomly oriented fibers on some engineering properties of cohesive soils.Freezing and thawing of soil affects the strength, durability and permeability of soil adversely. Experiments were carried out in order to investigate the effect of inclusion of randomly distributed polypropylene fibers on the strength, hydraulic conductivity and durability of local soil (CL) subjected to freeze–thaw cycles. For evaluating the change in strength of soil, a series of unconfined compression tests as well as tri-axial tests were carried out on reinforced and unreinforced soil samples. All the samples were subjected to seven cycles of freezing and thawing. Freezing was carried out at a temperature of - 15 to -18 °C; and thawing was carried out by keeping the samples at room temperature. The reinforcement of soil samples was done by mixing with polypropylene fibers, 12 mm long and with an aspect ratio of 240. The content of fibers was varied from 0.25 to 1% by dry weight of soil. The maximum strength of soil was found in samples having a fiber content of 0.75% for all the samples that were prepared at optimum moisture content (OMC), and if the OMC was increased (+2% OMC) or decreased (-2% OMC), the maximum strength observed at 0.5% fiber inclusion. The effect of fiber inclusion and freeze–thaw on the hydraulic conductivity was studied increased from around 25 times to 300 times that of the unreinforced soil, without subjected to any freeze-thaw cycles. For studying the increased durability of soil, mass loss after each freeze-thaw cycle was calculated and it was found that samples reinforced with polypropylene fibers show 50-60% less loss in weight than that of the unreinforced soil.

Keywords: fiber reinforcement, freezingand thawing, hydraulic conductivity, unconfined compressive strength

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3465 The Magnetic Susceptibility of the Late Quaternary Loess in North-East of Iran and Its Correlation with Other Palaeoclimatical Parameters

Authors: Fereshteh M. Haskouei, Habib Alimohammadian

Abstract:

Magnetic susceptibility (χ) is operational to identify of late quaternary glacial-interglacial cycles in loess-paleosol sequences. It is well accepted that many loess-paleosol sequences bear witness to cold-dry/warm-humid periods, well known as glacial-interglacial cycles, respectively. For this study, loess-paleosol sequence of north-east of Iran was magnetically investigated. The study area is situated at about 8 km away of Neka city, on the main road of Sari-Behshahr, in Mazandaran Province, north of Iran. The youngest deposits of study area are the late Quaternary wind-blown accumulations. In this study, the total number of 117 samples was collected from loess-paleosols units. After that, the natural remnant magnetization (NRM) and magnetic susceptibility (MS) of the samples were measured. Variation of MS of more than 110 loess samples was plotted to reveal the correlation of the MS and paleoclimatic changes. This study aims reconstruction of climatic changes (glacial-interglacial and stadials-interstadials cycles). To confirm our results we compared MS (χ) and the curves of other investigations in paleoclimatology. This correspondence abled us to recognize worldly events in the study area such as: Younger Dryas, the Last Glacial Maximum (LGM), deglaciation of Northern Hemisphere etc. The obtained magnetic data indicate that during almost 50 ka, at least two glacial-interglacial periods occurred in north-east of Iran. Further, variation of χ values revealed short period of climatically cycles known as stadials-interstadials. We recognized 4 stadials and a single stadial as colder sub-periods for S0 (recently soil-paleosol) and S2 (lower paleosol), respectively, Moreover, we recognized 6 warmer sub-periods (interstadials) for L1 (upper loess) and one interstadial L2 (lower loess).

Keywords: glacial-interglacial cycles, Iran, last glacial maximum (LGM), loess, magnetic susceptibility (χ), Neka, stadials-interstadials sub-periods, younger dryas

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3464 Diversified Farming and Agronomic Interventions Improve Soil Productivity, Soybean Yield and Biomass under Soil Acidity Stress

Authors: Imran, Murad Ali Rahat

Abstract:

One of the factors affecting crop production and nutrient availability is acidic stress. The most important element decreasing under acidic stress conditions is phosphorus deficiency, which results in stunted growth and yield because of inefficient nutrient cycling. At the Agriculture Research Institute Mingora Swat, Pakistan, tests were carried out for the first time throughout the course of two consecutive summer seasons in 2016 (year 1) and 2017 (year 2) with the goal of increasing crop productivity and nutrient availability under acidic stress. Three organic supplies (peach nano-black carbon, compost, and dry-based peach wastes), three phosphorus rates, and two advantageous microorganisms (Trichoderma and PSB) were incorporated in the experimental treatments. The findings showed that, in conditions of acid stress, peach organic sources had a significant impact on yield and yield components. The application of nano-black carbon produced the greatest thousand seed weight of 164.6 g among organic sources, however the use of phosphorus solubilizing bacteria (PSB) for seed inoculation increased the thousand seed weight of beneficial microbes when compared to Trichoderma soil application. The thousand seed weight was significantly impacted by the quantities of phosphorus. The treatment of 100 kg P ha-1 produced the highest thousand seed weight (167.3 g), which was followed by 75 kg P ha-1 (162.5 g). Compost amendments provided the highest seed yield (2,140 kg ha-1) and were comparable to the application of nano-black carbon (2,120 kg ha-1). With peach residues, the lowest seed output (1,808 kg ha-1) was observed.Compared to seed inoculation with PSB (1,913 kg ha-1), soil treatment with Trichoderma resulted in the maximum seed production (2,132 kg ha-1). Applying phosphorus to the soybean crop greatly increased its output. The highest seed yield (2,364 kg ha-1) was obtained with 100 kg P ha-1, which was comparable to 75 kg P ha-1 (2,335 kg ha-1), while the lowest seed yield (1,569 kg ha-1) was obtained with 50 kg P ha-1. The average values showed that compared to control plots (3.3 g kg-1), peach organic sources produced greatest SOC (10.0 g kg-1). Plots with treated soil had a maximum soil P of 19.7 mg kg-1, while plots under stress had a maximum soil P of 4.8 mg kg-1. While peach compost resulted in the lowest soil P levels, peach nano-black carbon yielded the highest soil P levels (21.6 mg kg-1). Comparing beneficial bacteria with PSB to Trichoderma (18.3 mg/kg-1), the former also shown an improvement in soil P (21.1 mg kg-1). Regarding P treatments, the application of 100 kg P per ha produced significantly higher soil P values (26.8 mg /kg-1), followed by 75 kg P per ha (18.3 mg /kg-1), and 50 kg P ha-1 produced the lowest soil P values (14.1 mg /kg-1). Comparing peach wastes and compost to peach nano-black carbon (13.7 g kg-1), SOC rose. In contrast to PSB (8.8 g kg-1), soil-treated Trichoderma was shown to have a greater SOC (11.1 g kg-1). Higher among the P levels.

Keywords: acidic stress, trichoderma, beneficial microbes, nano-black carbon, compost, peach residues, phosphorus, soybean

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3463 Controlling Olive Anthracnose with Antifungal Metabolites from Bacillus Species: A Biological Approach

Authors: Hafiz Husnain Nawaz

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Anthracnose disease in olive, caused by the fungal pathogen Colletotrichum acutatum, is considered one of the most critical issues in olive orchards in Pakistan. This disease poses a significant threat as it results in infections that can lead to the complete damage of olive plants, affecting leaves, stems, and fruits in the field. Controlling this disease is particularly challenging due to the absence of an effective fungicide that does not pose risks to farmer health and the environment. To address this challenge, our study aimed to evaluate the antagonistic activity of a biosurfactant produced by the Bacillus subtilis PE-07 strain against the anthracnose-causing agent in olive plants. This strain was selected after screening sixty rhizobacteria strains. Additionally, we assessed the heat stability, pH range, and toxicity of the biosurfactant produced by strain PE-07. Our results revealed that the biosurfactant exhibited maximum antifungal activity against C. acutatum. In vitro studies indicated that the biosurfactant could reduce fungal activity by inhibiting the spore germination of C. acutatum. Furthermore, the biosurfactant demonstrated a wide pH and temperature range, displaying antifungal activity at pH levels ranging from 5 to 10 and a temperature range from room temperature to 110°C. To evaluate the biosurfactant's safety, we conducted toxicity tests on zebra fish (Danio rerio). The results showed that the biosurfactant had minimal harmful effects, even at maximum concentrations. In conclusion, our study confirmed that the biosurfactant produced by B. subtilis exhibited high pH and heat stability with minimal harmful effects. Therefore, it presents a promising alternative to chemical pesticides for effectively controlling olive anthracnose in Pakistan.

Keywords: biological control, heat stability and PH range, toxicity, Danio rerio

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3462 An Assessment on Socio-Economic Impacts of Smallholder Eucalyptus Tree Plantation in the Case of Northwest Ethiopia

Authors: Mersha Tewodros Getnet, Mengistu Ketema, Bamlaku Alemu, Girma Demilew

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The availability of forest products determines the possibilities for forest-based livelihood options. Plantation forest is a widespread economic activity in highland areas of the Amhara regional state, owing primarily to degradation and limited access to natural forests. As a result, tree plantation has become one of the rural livelihood options in the area. Therefore, given the increasing importance of smallholder plantations in highland areas of Amhara Regional States, the aim of this research was to evaluate the extent of smallholder plantations and their socio-economic impact. To address the abovementioned research, a sequential embedded mixed research design was employed. This qualitative and quantitative information was gathered from both primary and secondary sources. Primary data were collected from 385 sample households, which were chosen using a three-stage, multi-stage sampling method based on the Cochran sample size formula. Both descriptive and inferential statistics were used to analyze the data. Smallholder eucalyptus plantations in the study area were discovered to be common, and they are now part of the livelihood portfolio for meeting both household wood consumption and generating cash income. According to the PSM model's ATT results, income from selling farm forest products certainly contributes more to total household income, farm expenditure per cultivated land, and education spending than non-planter households. As a result, the government must strengthen plantation practices by prioritizing specific intervention areas while implementing measures to counteract the plantation's inequality-increasing effect through a variety of means, including progressive taxation.

Keywords: smallholder plantation, Eucalyptus, propensity score matching, average treatment effect and income

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3461 Generative Design Method for Cooled Additively Manufactured Gas Turbine Parts

Authors: Thomas Wimmer, Bernhard Weigand

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The improvement of gas turbine efficiency is one of the main drivers of research and development in the gas turbine market. This has led to elevated gas turbine inlet temperatures beyond the melting point of the utilized materials. The turbine parts need to be actively cooled in order to withstand these harsh environments. However, the usage of compressor air as coolant decreases the overall gas turbine efficiency. Thus, coolant consumption needs to be minimized in order to gain the maximum advantage from higher turbine inlet temperatures. Therefore, sophisticated cooling designs for gas turbine parts aim to minimize coolant mass flow. New design space is accessible as additive manufacturing is maturing to industrial usage for the creation of hot gas flow path parts. By making use of this technology more efficient cooling schemes can be manufacture. In order to find such cooling schemes a generative design method is being developed. It generates cooling schemes randomly which adhere to a set of rules. These assure the sanity of the design. A huge amount of different cooling schemes are generated and implemented in a simulation environment where it is validated. Criteria for the fitness of the cooling schemes are coolant mass flow, maximum temperature and temperature gradients. This way the whole design space is sampled and a Pareto optimum front can be identified. This approach is applied to a flat plate, which resembles a simplified section of a hot gas flow path part. Realistic boundary conditions are applied and thermal barrier coating is accounted for in the simulation environment. The resulting cooling schemes are presented and compared to representative conventional cooling schemes. Further development of this method can give access to cooling schemes with an even better performance having higher complexity, which makes use of the available design space.

Keywords: additive manufacturing, cooling, gas turbine, heat transfer, heat transfer design, optimization

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3460 Effect of Silica Nanoparticles on Three-Point Flexural Properties of Isogrid E-Glass Fiber/Epoxy Composite Structures

Authors: Hamed Khosravi, Reza Eslami-Farsani

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Increased interest in lightweight and efficient structural components has created the need for selecting materials with improved mechanical properties. To do so, composite materials are being widely used in many applications, due to durability, high strength and modulus, and low weight. Among the various composite structures, grid-stiffened structures are extensively considered in various aerospace and aircraft applications, because of higher specific strength and stiffness, higher impact resistance, superior load-bearing capacity, easy to repair, and excellent energy absorption capability. Although there are a good number of publications on the design aspects and fabrication of grid structures, little systematic work has been reported on their material modification to improve their properties, to our knowledge. Therefore, the aim of this research is to study the reinforcing effect of silica nanoparticles on the flexural properties of epoxy/E-glass isogrid panels under three-point bending test. Samples containing 0, 1, 3, and 5 wt.% of the silica nanoparticles, with 44 and 48 vol.% of the glass fibers in the ribs and skin components respectively, were fabricated by using a manual filament winding method. Ultrasonic and mechanical routes were employed to disperse the nanoparticles within the epoxy resin. To fabricate the ribs, the unidirectional fiber rovings were impregnated with the matrix mixture (epoxy + nanoparticles) and then laid up into the grooves of a silicone mold layer-by-layer. At once, four plies of woven fabrics, after impregnating into the same matrix mixture, were layered on the top of the ribs to produce the skin part. In order to conduct the ultimate curing and to achieve the maximum strength, the samples were tested after 7 days of holding at room temperature. According to load-displacement graphs, the bellow trend was observed for all of the samples when loaded from the skin side; following an initial linear region and reaching a load peak, the curve was abruptly dropped and then showed a typical absorbed energy region. It would be worth mentioning that in these structures, a considerable energy absorption was observed after the primary failure related to the load peak. The results showed that the flexural properties of the nanocomposite samples were always higher than those of the nanoparticle-free sample. The maximum enhancement in flexural maximum load and energy absorption was found to be for the incorporation of 3 wt.% of the nanoparticles. Furthermore, the flexural stiffness was continually increased by increasing the silica loading. In conclusion, this study suggested that the addition of nanoparticles is a promising method to improve the flexural properties of grid-stiffened fibrous composite structures.

Keywords: grid-stiffened composite structures, nanocomposite, three point flexural test , energy absorption

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3459 Water Droplet Impact on Vibrating Rigid Superhydrophobic Surfaces

Authors: Jingcheng Ma, Patricia B. Weisensee, Young H. Shin, Yujin Chang, Junjiao Tian, William P. King, Nenad Miljkovic

Abstract:

Water droplet impact on surfaces is a ubiquitous phenomenon in both nature and industry. The transfer of mass, momentum and energy can be influenced by the time of contact between droplet and surface. In order to reduce the contact time, we study the influence of substrate motion prior to impact on the dynamics of droplet recoil. Using optical high speed imaging, we investigated the impact dynamics of macroscopic water droplets (~ 2mm) on rigid nanostructured superhydrophobic surfaces vibrating at 60 – 300 Hz and amplitudes of 0 – 3 mm. In addition, we studied the influence of the phase of the substrate at the moment of impact on total contact time. We demonstrate that substrate vibration can alter droplet dynamics, and decrease total contact time by as much as 50% compared to impact on stationary rigid superhydrophobic surfaces. Impact analysis revealed that the vibration frequency mainly affected the maximum contact time, while the amplitude of vibration had little direct effect on the contact time. Through mathematical modeling, we show that the oscillation amplitude influences the possibility density function of droplet impact at a given phase, and thus indirectly influences the average contact time. We also observed more vigorous droplet splashing and breakup during impact at larger amplitudes. Through semi-empirical mathematical modeling, we describe the relationship between contact time and vibration frequency, phase, and amplitude of the substrate. We also show that the maximum acceleration during the impact process is better suited as a threshold parameter for the onset of splashing than a Weber-number criterion. This study not only provides new insights into droplet impact physics on vibrating surfaces, but develops guidelines for the rational design of surfaces to achieve controllable droplet wetting in applications utilizing vibration.

Keywords: contact time, impact dynamics, oscillation, pear-shape droplet

Procedia PDF Downloads 454
3458 The Influence of the Aquatic Environment on Hematological Parameters in Cyprinus carpio

Authors: Andreea D. Șerban, Răzvan Mălăncuș, Mihaela Ivancia, Șteofil Creangă

Abstract:

Just as air influences the quality of life in the terrestrial environment, water, as a living environment, is one of great importance when it comes to the quality of life of underwater animals, which acquires an even higher degree of importance when analyzing underwater creatures as future products for human consumption. Thus, going beyond the ideal environment, in which all water quality parameters are permanently in perfect standards for reproduction, growth, and development of fish material and customizing this study to reality, it was demonstrated the importance of reproduction, development, and growth of biological material, necessary in the population fish farms, in the same environment to gain the maximum yield that a fish farm can offer. The biological material used was harvested from 3 fish farms located at great distances from each other to have environments with different parameters. The specimens were clinically healthy at 2 years of age. Thus, the differences in water quality parameters had effects on specimens from other environments, describing large curves in their evolution in new environments. Another change was observed in the new environment, the specimens contributing with the "genetic package" to its modification, tending to a balance of the parameters studied to the values in the environment in which they lived until the time of the experiment. The study clearly showed that adaptability to the environment in which an individual has developed and grown is not valid in environments with different parameters, resulting even in the fatality of one sample during the experiment. In some specimens, the values of the studied hematological parameters were halved after the transfer to the new environment, and in others, the same parameters were doubled. The study concludes that the specimens were adapted to the environment in which they developed and grew, their descendants having a higher value of heritability only in the initial environment. It is known that heritability is influenced 50% by the genetic package of the individual and 50% by the environment, by removing the value of the environment, the duration of improvement of characters of interest will be shorter and the maximum yield of fish farms can be achieved in a smaller period.

Keywords: environment, heritability, quality, water

Procedia PDF Downloads 170
3457 Potential Effects of Climate Change on Streamflow, Based on the Occurrence of Severe Floods in Kelantan, East Coasts of Peninsular Malaysia River Basin

Authors: Muhd. Barzani Gasim, Mohd. Ekhwan Toriman, Mohd. Khairul Amri Kamarudin, Azman Azid, Siti Humaira Haron, Muhammad Hafiz Md. Saad

Abstract:

Malaysia is a country in Southeast Asia that constantly exposed to flooding and landslide. The disaster has caused some troubles such loss of property, loss of life and discomfort of people involved. This problem occurs as a result of climate change leading to increased stream flow rate as a result of disruption to regional hydrological cycles. The aim of the study is to determine hydrologic processes in the east coasts of Peninsular Malaysia, especially in Kelantan Basin. Parameterized to account for the spatial and temporal variability of basin characteristics and their responses to climate variability. For hydrological modeling of the basin, the Soil and Water Assessment Tool (SWAT) model such as relief, soil type, and its use, and historical daily time series of climate and river flow rates are studied. The interpretation of Landsat map/land uses will be applied in this study. The combined of SWAT and climate models, the system will be predicted an increase in future scenario climate precipitation, increase in surface runoff, increase in recharge and increase in the total water yield. As a result, this model has successfully developed the basin analysis by demonstrating analyzing hydrographs visually, good estimates of minimum and maximum flows and severe floods observed during calibration and validation periods.

Keywords: east coasts of Peninsular Malaysia, Kelantan river basin, minimum and maximum flows, severe floods, SWAT model

Procedia PDF Downloads 262
3456 Biotic Potential of Different Densities of Aphid Parasitoids, Diaeretiella rapae (Hymenoptera: Braconidae: Aphidiinae) Feeding on Brevicoryne brassicae

Authors: Muhammad Anjum Aqueel, Muhammad Jaffar Hussain, Abu Bakar Muhammad Raza

Abstract:

Diaeretiella rapae (M’Intosh) attack most of the aphid species. However, it is specialized in feeding on crucifer aphid, Brevicoryne brassicae. Biological potential of parasitoid is its density-dependency due to sharing of limited resources in few cases. The present study was carried out to check the biotic potential of D. rapae at its different densities (1, 2, 4, 8 and 10 pairs) on fixed number of B. brassicae (100 in number) as a host. The present study was performed under laboratory conditions (25 ± 2 ºC temperature and 65-70 % R.H.). Different biological parameters for parasitoid (e.g. percent parasitism, adult emergence, adult longevity and per pair parasitism) were evaluated to check its biotic potential. The present findings showed that maximum parasitism (43.09 % ± 0.63) was observed in highest density (10 pairs) and minimum parasitism (16.59 % ± 1.28) in lowest density (1 pair) of the parasitoid. Maximum adult emergence (80.31 % ± 1.33) was observed in highest density (10 pairs) and minimum parasitism (45.99 % ± 1.27) in lowest density (1 pair) of the parasitoid. In the case of adult longevity, highest (8.2 days ± 0.38) and lowest (6 days ± 0.32) longevity were observed in lowest (1 pair) and highest (10 pairs) densities of parasitoids respectively. However, per pair parasitism rate decreased with the increase in parasitoid densities due to intra-specific competition, developed between the parasitoids for parasitism. The positive but close relationship was observed between percent parasitism and adult emergence. The increase in parasitoid densities increased the percent parasitism and adult emergence of the parasitoid. So, we conclude that an inter-specific competition negatively affected the efficacy of parasitoids and may reduce the fitness of the emerging parasitoid.

Keywords: Diaeretiella rapae, Parasitoid densities, Percent parasitism, adult emergence

Procedia PDF Downloads 234
3455 Effect of Hypoxia on the Antimicrobial Activity of Corvina Drum (Cilus Gilberti) Epidermal Mucus

Authors: Belinda Vega, Claudio Alvarez, Héctor Flores, Marcia Oliva, Katherine Alveal, Teresa Toro, María José Tapia, Fanny Guzmán

Abstract:

With the increase in global temperatures and the decrease of oxygen (O2) concentration in the oceans, fish cultures are exposed to frequent fluctuations in dissolved O2 (DO) concentration that can cause chronic stress in the animals, altering the normal functioning of their immune system and making them vulnerable to infections, consequently increasing morbidity and mortality in the farms with economic losses. The mucosal organs (skin -and mucus-, gills, gut, and nasal mucosa) are the first line of defense of the fish against pathogens. Therefore, the objective of this study is to evaluate the effect of hypoxia on the antimicrobial activity of epidermal mucus from corvina drum (Cilus Gilberti), a native marine species with the potential for the diversification of aquaculture in Chile. To achieve this, the epidermal mucus of juveniles (~220g) kept under normoxia (7 mg/L DO) and hypoxia (2 mg/L DO) environmental conditions was collected after 6 weeks, as well as after 6 days of intraperitoneal inoculation with lipopolysaccharide from Vibrio anguillarum to induce an immune response in the fish. Total protein extracts of the mucus were used for bactericidal activity and lysozyme and peroxidase activity assays. Although the mucus from both experimental groups showed inhibitory effects on the bacterial growth of Vibrio anguillarum and Vibrio ordalli, this effect was more long-lasting in the normoxia group. We also observed a notable reduction in the presence of lysozyme in the mucus from fish exposed to hypoxia, with no differences in peroxidase content. Future proteomic studies of corvina mucus associated with the environmental conditions studied in this work will allow the isolation and identification of peptides with antimicrobial activity, those responsible for the results obtained. This will help establish strategies aimed at minimizing the impacts of hypoxia on the defense responses of corvina drum against potential pathogens. Funding: FONDECYT 3200440 and FONDECYT 1210056

Keywords: Cilus gilberti, mucus, antimicrobial activity, HYPOXIA

Procedia PDF Downloads 75
3454 Need for Contemporization of Craft for Sustenance: A Study on Solapur Wall Hanging

Authors: Reena Aggarwal

Abstract:

Wall art is a manifestation of the human mind and an absorbing form of cultural expression. Solapur wall hanging making art reflects cultural values, regional sensibilities, beliefs, and identity and helps to preserve the many different communities. The tango of warp and weft in many ways than one tells the story of civilization itself. Solapur wall hanging is a poem in multicolor, written with the warp and weft having long, rich, and complex history with indigenous design vocabularies made by the Padmasali communities. The wall-hanging weaving of Solapur has remained unaltered for years, from being very basic and monochrome having landscapes and portraits catering only to the local market, thereby becoming a potential family income generation tool. The study focuses on the need for contemporization of the Solapur wall hanging and also deliberates on the fact that wherever the culture of native people has been aided by intervention, in nearly every case, the quality of their craft has began to be enhanced. The study also found the underlying reason for diminishing sales to a declining market, low sales, lack of innovation in design, and product development. Keeping in mind that the artisans of Solapur have heroically always hold on to their ancient beliefs and practices, which give them strength and identity, and a sense of pride, an intervention program was developed with an objective of widening the market and help artisans have a sustaining income which include urban consumers and create designs suitable for the urban market. The process of defining and measuring the advantages of design intervention was achieved by using qualitative research methods. An ethnographic research methodology was adopted, which includes six months of close interface with artisans from ten families engaged in making of wall hanging in Solapur. Design solutions were proposed in terms of product diversification and design extensions of the existing product line for increased variety. A collection of contemporary wall arts (wall decor) and room dividers were designed and developed.

Keywords: wall hanging, Solapur, contemporization, traditional, sustainable

Procedia PDF Downloads 324
3453 Sustainable Ecological Agricultural Systems in Bangladesh: Environmental, Economic and Social Perspective of Compost

Authors: Protima Chakraborty

Abstract:

The sustainability of conventional agriculture in Bangladesh is under threat from the continuous degradation of land and water resources, and from declining yields due to indiscriminate use of agrochemicals. NASL (Northern Agro Services Limited) is pursuing efforts to promote ecological agriculture with emphasis on better use of organic fertilizer resources and the reduction of external inputs. This paper examines the sustainability of two production systems in terms of their environmental soundness, economic viability and social acceptability based on empirical data collected through making demonstration land cultivation, a household survey, soil sample analysis, observations and discussions with key informants. Twelve indicators were selected to evaluate sustainability. Significant differences were found between the two systems in crop diversification, soil fertility management, pests and diseases management, and use of agrochemicals & Organic Compost. However, significant variations were found in other indicators such as land-use pattern, crop yield and stability, risk and uncertainties, and food security. Although crop yield and financial return were found to be slightly higher in the ecological system, the economic return and value addition per unit of land show the positive difference of using compost rather than chemical fertilizer. The findings suggest that ecological agriculture has a tendency towards becoming ecologically, economically and socially more sound than conventional agriculture, as it requires considerably fewer agro-chemicals, adds more organic matter to the soil, provides balanced food, and requires higher local inputs without markedly compromising output and financial benefits. Broad-policy measures, including the creation of mass awareness of adverse health effects of agrochemical-based products, are outlined for the promotion of ecological agriculture.

Keywords: Bangladesh, compost, conventional agriculture, organic fertilizer, environmental sustainability, economic viability, social acceptability

Procedia PDF Downloads 242
3452 An Intelligent Controller Augmented with Variable Zero Lag Compensation for Antilock Braking System

Authors: Benjamin Chijioke Agwah, Paulinus Chinaenye Eze

Abstract:

Antilock braking system (ABS) is one of the important contributions by the automobile industry, designed to ensure road safety in such way that vehicles are kept steerable and stable when during emergency braking. This paper presents a wheel slip-based intelligent controller with variable zero lag compensation for ABS. It is required to achieve a very fast perfect wheel slip tracking during hard braking condition and eliminate chattering with improved transient and steady state performance, while shortening the stopping distance using effective braking torque less than maximum allowable torque to bring a braking vehicle to a stop. The dynamic of a vehicle braking with a braking velocity of 30 ms⁻¹ on a straight line was determined and modelled in MATLAB/Simulink environment to represent a conventional ABS system without a controller. Simulation results indicated that system without a controller was not able to track desired wheel slip and the stopping distance was 135.2 m. Hence, an intelligent control based on fuzzy logic controller (FLC) was designed with a variable zero lag compensator (VZLC) added to enhance the performance of FLC control variable by eliminating steady state error, provide improve bandwidth to eliminate the effect of high frequency noise such as chattering during braking. The simulation results showed that FLC- VZLC provided fast tracking of desired wheel slip, eliminate chattering, and reduced stopping distance by 70.5% (39.92 m), 63.3% (49.59 m), 57.6% (57.35 m) and 50% (69.13 m) on dry, wet, cobblestone and snow road surface conditions respectively. Generally, the proposed system used effective braking torque that is less than the maximum allowable braking torque to achieve efficient wheel slip tracking and overall robust control performance on different road surfaces.

Keywords: ABS, fuzzy logic controller, variable zero lag compensator, wheel slip tracking

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3451 The Effect of Traffic Load on the Maximum Response of a Cable-Stayed Bridge under Blast Loads

Authors: S. K. Hashemi, M. A. Bradford, H. R. Valipour

Abstract:

The Recent collapse of bridges has raised the awareness about safety and robustness of bridges subjected to extreme loading scenarios such as intentional/unintentional blast loads. The air blast generated by the explosion of bombs or fuel tankers leads to high-magnitude short-duration loading scenarios that can cause severe structural damage and loss of critical structural members. Hence, more attentions need to put towards bridge structures to develop guidelines to increase the resistance of such structures against the probable blast. Recent advancements in numerical methods have brought about the viable and cost effective facilities to simulate complicated blast scenarios and subsequently provide useful reference for safeguarding design of critical infrastructures. In the previous studies common bridge responses to blast load, the traffic load is sometimes not included in the analysis. Including traffic load will increase the axial compression in bridge piers especially when the axial load is relatively small. Traffic load also can reduce the uplift of girders and deck when the bridge experiences under deck explosion. For more complicated structures like cable-stayed or suspension bridges, however, the effect of traffic loads can be completely different. The tension in the cables increase and progressive collapse is likely to happen while traffic loads exist. Accordingly, this study is an attempt to simulate the effect of traffic load cases on the maximum local and global response of an entire cable-stayed bridge subjected to blast loadings using LS-DYNA explicit finite element code. The blast loads ranged from small to large explosion placed at different positions above the deck. Furthermore, the variation of the traffic load factor in the load combination and its effect on the dynamic response of the bridge under blast load is investigated.

Keywords: blast, cable-stayed bridge, LS-DYNA, numerical, traffic load

Procedia PDF Downloads 332
3450 Effects of Aerodynamic on Suspended Cables Using Non-Linear Finite Element Approach

Authors: Justin Nwabanne, Sam Omenyi, Jeremiah Chukwuneke

Abstract:

This work presents structural nonlinear static analysis of a horizontal taut cable using Finite Element Analysis (FEA) method. The FEA was performed analytically to determine the tensions at each nodal point and subsequently, performed based on finite element displacement method computationally using the FEA software, ANSYS 14.0 to determine their behaviour under the influence of aerodynamic forces imposed on the cable. The convergence procedure is adapted into the method to prevent excessive displacements through the computations. The work compared the two FEA cases by examining the effectiveness of the analytical model in describing the response with few degrees of freedom and the ability of the nonlinear finite element procedure adopted to capture the complex features of cable dynamics with reference to the aerodynamic external influence. Results obtained from this work explain that the analytic FEM results without aerodynamic influence show a parabolic response with an optimum deflection at nodal points 12 and 13 with the cable weight at nodes 12 and 13 having the value -1.002936N while for the cable tension shows an optimum deflection value for nodes 12 and 13 at -189396.97kg/km. The maximum displacement for the cable system was obtained from ANSYS 14.0 as 4483.83 mm for X, Y and Z components of displacements at node number 2 while the maximum displacement obtained is 4218.75mm for all the directional components. The dynamic behaviour of a taut cable investigated has application in a typical power transmission line. Aerodynamic influences on the cables were considered using FEA approach by employing ANSYS 14.0 showed a complex modal behaviour as expected.

Keywords: aerodynamics, cable tension and weight, finite element analysis, nodal, non-linear model, optimum deflection, suspended cable, transmission line

Procedia PDF Downloads 278
3449 Higher Education Leadership and Creating Sites of Institutional Belonging: A Global Case Study

Authors: Lisa M. Coleman

Abstract:

The focus on disability, LGBTQ+, and internationalization has certainly been the subject of much research and programmatic across higher education. Many universities have entered into global partnerships with varying success and challenges across the various areas, including laws and policies. Attentiveness to the specific nuances of global inclusion, diversity, equity, belonging, and access (GIDBEA) and the leadership to support these efforts is crucial to the development of longstanding success across the programs. There have been a number of shifts related to diversification across student and alumni bodies. These shifts include but are not limited to how people identify gender, race, and sexuality (and the intersections across such identities), as well as trends across emerging and diverse disability communities. NYU is the most international campus in the United States, with the most campuses and sites outside of its county of origin and the most international students and exchange programs than any other university. As a result, the ongoing work related to GIDEBA is at the center of much of the leadership, administrative, and research efforts. Climate assessment work across NYU’s diverse global campus landscape will serve as the foundation to exemplify best practices related to data collection and dissemination, community and stakeholder engagement, and effective implementation of innovative strategies to close gap areas as identified. The data (quantitative and qualitative) and related research findings represent data collected from close to 22,000 stakeholders across the NYU campuses. The case study centers on specific methodological considerations, data integrity, stakeholder engagement from across student-faculty, staff, and alumni constituencies, and tactics to advance specific GIDBEA initiatives related to navigating shifting landscapes. Design thinking, incubation, and co-creation strategies have been employed to expand, leverage, actualize, and implement GIDBEA strategies that are – concrete, measurable, differentiated, and specific to global sites and regions and emerging trends.

Keywords: disability, LGBTQ+, DEI, research, case studies

Procedia PDF Downloads 105
3448 The Presence of Investor Overconfidence in the South African Exchange Traded Fund Market

Authors: Damien Kunjal, Faeezah Peerbhai

Abstract:

Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

Procedia PDF Downloads 164
3447 Adequacy of Advanced Earthquake Intensity Measures for Estimation of Damage under Seismic Excitation with Arbitrary Orientation

Authors: Konstantinos G. Kostinakis, Manthos K. Papadopoulos, Asimina M. Athanatopoulou

Abstract:

An important area of research in seismic risk analysis is the evaluation of expected seismic damage of structures under a specific earthquake ground motion. Several conventional intensity measures of ground motion have been used to estimate their damage potential to structures. Yet, none of them was proved to be able to predict adequately the seismic damage of any structural system. Therefore, alternative advanced intensity measures which take into account not only ground motion characteristics but also structural information have been proposed. The adequacy of a number of advanced earthquake intensity measures in prediction of structural damage of 3D R/C buildings under seismic excitation which attacks the building with arbitrary incident angle is investigated in the present paper. To achieve this purpose, a symmetric in plan and an asymmetric 5-story R/C building are studied. The two buildings are subjected to 20 bidirectional earthquake ground motions. The two horizontal accelerograms of each ground motion are applied along horizontal orthogonal axes forming 72 different angles with the structural axes. The response is computed by non-linear time history analysis. The structural damage is expressed in terms of the maximum interstory drift as well as the overall structural damage index. The values of the aforementioned seismic damage measures determined for incident angle 0° as well as their maximum values over all seismic incident angles are correlated with 9 structure-specific ground motion intensity measures. The research identified certain intensity measures which exhibited strong correlation with the seismic damage of the two buildings. However, their adequacy for estimation of the structural damage depends on the response parameter adopted. Furthermore, it was confirmed that the widely used spectral acceleration at the fundamental period of the structure is a good indicator of the expected earthquake damage level.

Keywords: damage indices, non-linear response, seismic excitation angle, structure-specific intensity measures

Procedia PDF Downloads 493
3446 Valorisation of Mango Seed: Response Surface Methodology Based Optimization of Starch Extraction from Mango Seeds

Authors: Tamrat Tesfaye, Bruce Sithole

Abstract:

Box-Behnken Response surface methodology was used to determine the optimum processing conditions that give maximum extraction yield and whiteness index from mango seed. The steeping time ranges from 2 to 12 hours and slurring of the steeped seed in sodium metabisulphite solution (0.1 to 0.5 w/v) was carried out. Experiments were designed according to Box-Behnken Design with these three factors and a total of 15 runs experimental variables of were analyzed. At linear level, the concentration of sodium metabisulphite had significant positive influence on percentage yield and whiteness index at p<0.05. At quadratic level, sodium metabisulphite concentration and sodium metabisulphite concentration2 had a significant negative influence on starch yield; sodium metabisulphite concentration and steeping time*temperature had significant (p<0.05) positive influence on whiteness index. The adjusted R2 above 0.8 for starch yield (0.906465) and whiteness index (0.909268) showed a good fit of the model with the experimental data. The optimum sodium metabisulphite concentration, steeping hours, and temperature for starch isolation with maximum starch yield (66.428%) and whiteness index (85%) as set goals for optimization with the desirability of 0.91939 was 0.255w/v concentration, 2hrs and 50 °C respectively. The determined experimental value of each response based on optimal condition was statistically in accordance with predicted levels at p<0.05. The Mango seeds are the by-products obtained during mango processing and possess disposal problem if not handled properly. The substitution of food based sizing agents with mango seed starch can contribute as pertinent resource deployment for value-added product manufacturing and waste utilization which might play significance role of food security in Ethiopia.

Keywords: mango, synthetic sizing agent, starch, extraction, textile, sizing

Procedia PDF Downloads 231