Search results for: financial and industrial systems

Authors: Ichiro Mukai

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The purpose of this study is to investigate whether firms applying International Financial Reporting Standards (IFRS), provide high-quality and comparable earnings information that is useful for decision making of information users relative to firms applying local Generally Accepted Accounting Principles (GAAP). Focus is placed on the earnings quality of listed firms in several developed countries: Australia, Canada, France, Germany, Japan, the United Kingdom (UK), and the United States (US). Except for Japan and the US, the adoption of IFRS is mandatory for listed firms in these countries. In Japan, the application of IFRS is allowed for specific listed firms. In the US, the foreign firms listed on the US securities market are permitted to apply IFRS but the listed domestic firms are prohibited from doing so. In this paper, the differences in earnings quality are compared between firms applying local GAAP and those applying IFRS in each country and industry category, and the reasons of differences in earnings quality are analyzed using various factors. The results show that, although the earnings quality of firms applying IFRS is higher than that of firms applying local GAAP, this varies with country and industry category. Thus, even if a single set of global accounting standards is used for all listed firms worldwide, it is difficult to establish comparability of financial information among global firms. These findings imply that various circumstances surrounding firms, industries, and countries etc. influence business operations and affect the differences in earnings quality.

Keywords: accruals, earnings quality, IFRS, information comparability

Procedia PDF Downloads 169

Authors: Julius Y Asamoah

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Mobile money has seen faster adoption in the decade. Its emergence serves as an essential driver of financial inclusion and an innovative financial service delivery channel, especially to the unbanked population. The rising importance of mobile money services has caught policymakers and regulators' attention, seeking to understand the many issues emerging from this context. At the same time, it is unlocking the potential of knowledge of this new technology. Regulatory responses and support are essential, requiring significant changes to current regulatory practices in Ghana. The article aims to answer the following research questions: "What risk does an unregulated mobile money service pose to consumers and the financial system? "What factors stimulate and hinder the introduction of mobile payments in developing countries? The sample size used was 250 respondents selected from the study area. The study has adopted an analytical approach comprising a combination of qualitative and quantitative data collection methods. Actor-network theory (ANT) is used as an interpretive lens to analyse this process. ANT helps analyse how actors form alliances and enrol other actors, including non-human actors (i.e. technology), to secure their interests. The study revealed that government regulatory policies impact mobile money as critical to mobile money services in developing countries. Regulatory environment should balance the needs of advancing access to finance with the financial system's stability and draw extensively from Kenya's work as the best strategies for the system's players. Thus, regulators need to address issues related to the enhancement of supportive regulatory frameworks. It recommended that the government involve various stakeholders, such as mobile phone operators. Moreover, the national regulatory authority creates a regulatory environment that promotes fair practices and competition to raise revenues to support a business-enabling environment's key pillars as infrastructure.

Keywords: actor-network theory (ANT), cashless future, Developing countries, Ghana, Mobile Money

Procedia PDF Downloads 138

Authors: Hashem Dadashpoor, Sadegh Saeidi Shirvan

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While with the evolution of the economy towards a knowledge-based economy, innovation is a requirement for metropolitan regions, the adoption of an open innovation strategy is an option and a requirement for many industrial firms in these regions. Studies show that investing in research and development units cannot alone increase innovation. Within the framework of the theory of learning regions, this gap, which scholars call it the ‘innovation gap’, is filled with regional features of firms. This paper attempts to investigate the factors affecting the open innovation of firms in metropolitan regions, and it searches for these in territorial innovation models and, in particular, the theory of learning regions. In the next step, the effect of identified factors which is considered as regional learning factors in this research is analyzed on the innovation of sample firms by SPSS software using multiple linear regression. The case study of this research is constituted of industrial enterprises from two groups of food industry and auto parts in Toos industrial town in Mashhad metropolitan region. For data gathering of this research, interviews were conducted with managers of industrial firms using structured questionnaires. Based on this study, the effect of factors such as size of firms, inter-firm competition, the use of local labor force and institutional infrastructures were significant in the innovation of the firms studied, and 44% of the changes in the firms’ innovation occurred as a result of the change in these factors.

Keywords: regional knowledge networks, learning regions, interactive learning, innovation

Procedia PDF Downloads 179

Authors: Mennatallah M. Hussein, Olivier de Weck

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The advancement of space exploration demands a robust space launch services program capable of reliably propelling payloads into orbit. Despite rigorous testing and quality assurance, launch failures still occur, leading to significant financial losses and jeopardizing mission objectives. Traditional failure prediction methods often lack the sophistication to account for multi-mode failure scenarios, as well as the predictive capability in complex dynamic systems. Traditional approaches also rely on expert judgment, leading to variability in risk prioritization and mitigation strategies. Hence, there is a pressing need for robust approaches that enhance launch vehicle reliability from lift-off until it reaches its parking orbit through comprehensive simulation techniques. In this study, the developed model proposes a multi-mode launch vehicle simulation framework for predicting failure scenarios when incorporating new technologies, such as new propulsion systems or advanced staging separation mechanisms in the launch system. To this end, the model combined a 6-DOF system dynamics with comprehensive data analysis to simulate multiple failure modes impacting launch performance. The simulator utilizes high-fidelity physics-based simulations to capture the complex interactions between different subsystems and environmental conditions.

Keywords: launch vehicle, failure prediction, propulsion anomalies, rocket launch simulation, rocket dynamics

Procedia PDF Downloads 31

Authors: Hatane Semuel, Hartmann H. Ngono, Sautma R. Basana

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The effect of capital structure on profitability is often debated by many financial investigators. The application of the trade-off theory and pecking order theory to analyze this relationship may generate different views. Each company has its own strategies to achieve its objectives and the external environment, such as state policy has a broad impact on the relationship with the capital structure of the company's profitability. Malaysia is the country closest to Indonesia that had a similar growth rate of GDP and industrial production with Indonesia, but Malaysia has lower inflation rate than Indonesia. This study was conducted to compare the performance of manufacturing sector between two countries when entering the era of the ASEAN Economic Community (AEC). The samples for this study were 69 companies in Indonesia and 242 companies in Malaysia that engaged in manufacturing sector. The study uses panel data analysis. The study found that the capital structure have positive effect on profitability of manufacturing company in Indonesia, and it turns to negative effect on manufacturing companies in Malaysia. The results also showed that there are significant differences in short-term debt towards profitability of manufacturing companies in the two countries Indonesia and Malaysia.

Keywords: capital structure, Indonesia, Malaysia, manufacturing, profitability

Procedia PDF Downloads 382

Authors: Pallavi Kishore, Mariam Aslam

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The sharp decline in oil prices that started in 2014 affected most economies in the world either positively or negatively. In some economies, particularly the oil exporting countries, the effects were felt immediately. The Gulf Cooperation Council’s (GCC henceforth) countries are oil and gas-dependent with the largest oil reserves in the world. UAE (United Arab Emirates) has been striving to diversify away from oil and expects higher non-oil growth in 2018. These two factors, falling oil prices and the economy strategizing away from oil dependence, make a compelling case to study the financial performance of various sectors in the economy. Among other sectors, the insurance sector is widely recognized as an important indicator of the health of the economy. An expanding population, surge in construction and infrastructure, increased life expectancy, greater expenditure on automobiles and other luxury goods translate to a booming insurance sector. A slow-down of the insurance sector, on the other hand, may indicate a general slow-down in the economy. Therefore, a study on the insurance sector will help understand the general nature of the current economy. This study involves calculations and comparisons of ratios pre and post the fall in oil prices in the insurance sector in the UAE. A sample of 33 companies listed on the official stock exchanges of UAE-Dubai Financial Market and Abu Dhabi Stock Exchange were collected and empirical analysis employed to study the financial performance pre and post fall in oil prices. Ratios were calculated in 5 categories: Profitability, Liquidity, Leverage, Efficiency, and Investment. The means pre- and post-fall are compared to conclude that the profitability ratios including ROSF (Return on Shareholder Funds), ROCE (Return on Capital Employed) and NPM (Net Profit Margin) have all taken a hit. Parametric tests, including paired t-test, concludes that while the fall in profitability ratios is statistically significant, the other ratios have been quite stable in the period. The efficiency, liquidity, gearing and investment ratios have not been severely affected by the fall in oil prices. This may be due to the implementation of stronger regulatory policies and is a testimony to the diversification into the non-oil economy. The regulatory authorities can use the findings of this study to ensure transparency in revealing financial information to the public and employ policies that will help further the health of the economy. The study will also help understand which areas within the sector could benefit from more regulations.

Keywords: UAE, insurance sector, ratio analysis, oil price, profitability, liquidity, gearing, investment, efficiency

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Authors: Uzoma Emmanuel Igboji

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The study investigates the effects of cash flow position on corporate performance in the manufacturing sector of Nigeria, using multiple regression techniques. The study involved a survey of five (5) manufacturing companies quoted on the Nigerian Stock Exchange. The data were obtained from the annual reports of the selected companies under study. The result shows that operating and financing cash flow have a significant positive relationship with corporate performance, while investing cash flow position have a significant negative relationship. The researcher recommended that the regulatory authorities should encourage external auditors of these quoted companies to use cash flow ratios in evaluating the performance of a company before expressing an independent opinion on the financial statement. The will give detailed financial information to existing and potential investors to make informed economic decisions.

Keywords: cash flow, financing, performance, operating

Procedia PDF Downloads 315

Authors: Michael Ajide Oyinloye

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The natural environment is made up of air, water and soil. The release of emission of industrial waste into anyone of the components of the environment causes pollution. Industrial pollution significantly threatens the inherent right of people, to the enjoyment of a safe and secure environment. The aim of this paper is to assess the effect of environmental pollution and health risks of residents living near Ewekoro Cement factory. The research made use of IKONOS imagery for Geographical Information System (GIS) to buffer and extract buildings that are less than 1 km to the plant, within 1 km to 5 km and above 5 km to the factory. Also, a questionnaire was used to elicit information on the socio-economic factors, the effect of environmental pollution on residents and measures adopted to control industrial pollution on the residents. Findings show that most buildings that between less than 1 km and 1 km to 5 km to the factory have high health risk in the study area. The study recommended total relocation for the residents of the study area to reduce risk health problems.

Keywords: environmental pollution, health risk, GIS, satellite imagery, ewekoro

Procedia PDF Downloads 542

Authors: Anton Hristozov, Eric Matson, Eric Dietz, Marcus Rogers

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Components are heavily used in many software systems, including robotics systems. The growth of sophistication and diversity of new capabilities for robotic systems presents new challenges to their architectures. Their complexity is growing exponentially with the advent of AI, smart sensors, and the complex tasks they have to accomplish. Such complexity requires a more rigorous approach to the creation, use, and interoperability of software components. The issue is exacerbated because robotic systems are becoming more and more reliant on third-party components for certain functions. In order to achieve this kind of interoperability, including dynamic component replacement, we need a way to standardize their interfaces. A formal approach is desperately needed to specify what an interface of a robotic software component should contain. This study performs an analysis of the issue and presents a universal and generic approach to standardizing component interfaces for robotic systems. Our approach is inspired by well-established robotic architectures such as ROS, PX4, and Ardupilot. The study is also applicable to other software systems that share similar characteristics with robotic systems. We consider the use of JSON or Domain Specific Languages (DSL) development with tools such as Antlr and automatic code and configuration file generation for frameworks such as ROS and PX4. A case study with ROS2 is presented as a proof of concept for the proposed methodology.

Keywords: CPS, robots, software architecture, interface, ROS, autopilot

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: C. Pislaru, A. Shebani

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This paper uses the radial basis function neural network (RBFNN) for system identification of nonlinear systems. Five nonlinear systems are used to examine the activity of RBFNN in system modeling of nonlinear systems; the five nonlinear systems are dual tank system, single tank system, DC motor system, and two academic models. The feed forward method is considered in this work for modelling the non-linear dynamic models, where the K-Means clustering algorithm used in this paper to select the centers of radial basis function network, because it is reliable, offers fast convergence and can handle large data sets. The least mean square method is used to adjust the weights to the output layer, and Euclidean distance method used to measure the width of the Gaussian function.

Keywords: system identification, nonlinear systems, neural networks, radial basis function, K-means clustering algorithm

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Authors: Stanislav Perepechko

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Industrial companies - one of the major sources of harmful substances to the atmosphere. The main cause of pollution on the concrete plants are cement dust emissions. All the cement silos, pneumatic transport, and ventilation systems equipped with filters, to avoid this. Today, many Russian companies have to decide on replacement morally and physically outdated filters and guided back to the electrostatic filters as usual equipment. The offered way of a cleaning of waste-free filtering of air differs in the fact that a filtering medium of the filter is used in concrete manufacture. Basalt is widespread and pollution-free material. In the course of cleaning, one part of basalt fiber and cement immediately goes to the mixer through flow-control units of initial basalt fiber and cement. Another part of basalt fiber goes to filters for purification of the air used in systems of an air lift, and ventilating emissions passes through them, and with trapped particles also goes to the mixer through flow-control units of the basalt fiber fulfilled in filters. At the same time, regulators are adjusted in such a way that total supply of basalt fiber and cement into the mixer remains invariable and corresponds to a given technological mode.

Keywords: waste-free air filtration, concrete, basalt fiber, building automation

Procedia PDF Downloads 428

Authors: Lubowa Samuel

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Health information systems, often known as HIS, are critical components of the healthcare system to improve health policies and promote global health development. In a broader sense, HIS as a system integrates data collecting, processing, reporting, and making use of various types of data to improve healthcare efficacy and efficiency through better management at all levels of healthcare delivery. The aim of this study is to assess the adoption of health information systems (HIS) in a resource-constrained country drawing from the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) model. The results indicate that the user's perception of the technology and the poor information technology infrastructures contribute a lot to the low adoption of HIS in resource-constrained countries.

Keywords: health information systems, resource-constrained countries, health information systems

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Authors: Sebastian van Delden, Matthew Anuszkiewicz, Jayse White, Scott Stolarski

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Industrial robotic manipulators have been commonplace in the manufacturing world since the early 1960s, and unmanned aerial vehicles (drones) have only begun to realize their full potential in the service industry and the military. The omnipresence of these technologies in their respective fields will only become more potent in coming years. While these technologies have greatly evolved over the years, the typical approach to human interaction with these robots has not. In the industrial robotics realm, a manipulator is typically jogged around using a teach pendant and programmed using a networked computer or the teach pendant itself via a proprietary software development platform. Drones are typically controlled using a two-handed controller equipped with throttles, buttons, and sticks, an app that can be downloaded to one’s mobile device, or a combination of both. This application-oriented work offers a novel approach to human interaction with both unmanned aerial vehicles and industrial robotic manipulators via hand gestures and movements. Two systems have been implemented, both of which use a Myo™ armband to control either a drone (DJI Spark™) or a robotic arm (Stäubli™ TX40). The methodologies developed by this work present a mapping of armband gestures (fist, finger spread, swing hand in, swing hand out, swing arm left/up/down/right, etc.) to either drone or robot arm movements. The findings of this study present the efficacy and limitations (precision and ergonomic) of hand gesture control of two distinct types of robotic technology. All source code associated with this project will be open sourced and placed on GitHub. In conclusion, this study offers a framework that maps hand and arm gestures to drone and robot arm control. The system has been implemented using current ubiquitous technologies, and these software artifacts will be open sourced for future researchers or practitioners to use in their work.

Keywords: human robot interaction, drones, gestures, robotics

Procedia PDF Downloads 157

Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Elnaz Kanani-Kuchesfehani, Andrea Schiffauerova

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Due to the novelty of the nanotechnology science, its highly knowledge intensive content, and its invaluable application in almost all technological fields, the close interaction between university and industry is essential. A possible gap between academic strengths to generate good nanotechnology ideas and industrial capacity to receive them can thus have far-reaching consequences. In order to be able to enhance the collaboration between the two parties, a better understanding of knowledge transfer within the university-industry relationship is needed. The objective of this research is to investigate the research collaboration between academia and industry in Canadian nanotechnology and to propose the best cooperative strategy to maximize the quality of the produced knowledge. First, a network of all Canadian academic and industrial nanotechnology inventors is constructed using the patent data from the USPTO (United States Patent and Trademark Office), and it is analyzed with social network analysis software. The actual level of university-industry collaboration in Canadian nanotechnology is determined and the significance of each group of actors in the network (academic vs. industrial inventors) is assessed. Second, a novel methodology is proposed, in which the network of nanotechnology inventors is assessed from a game theoretic perspective. It involves studying a cooperative game with n players each having at most n-1 decisions to choose from. The equilibrium leads to a strategy for all the players to choose their co-worker in the next period in order to maximize the correlated payoff of the game. The payoffs of the game represent the quality of the produced knowledge based on the citations of the patents. The best suggestion for the next collaborative relationship is provided for each actor from a game theoretic point of view in order to maximize the quality of the produced knowledge. One of the major contributions of this work is the novel approach which combines game theory and social network analysis for the case of large networks. This approach can serve as a powerful tool in the analysis of the strategic interactions of the network actors within the innovation systems and other large scale networks.

Keywords: cooperative strategy, game theory, industry-university collaboration, knowledge production, social network analysis

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Authors: Nasser Almonawer

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Timely reaction to an evolving global business environment and volatile market conditions necessitates system and process flexibility, which in turn demands agile and adaptable architecture and a steady infusion of affordable new technologies. On the contrary, a large number of organizations utilize systems characterized by inflexible and obsolete legacy architectures. To effectively respond to the dynamic contemporary business environments, such architectures must be migrated to robust and modular open architectures. To this end, this paper proposes an integrated decision support system for a seamless migration to open systems. The proposed decision support system (DSS) integrates three well-established quantitative and qualitative decision-making models—namely, the Delphi method, Analytic Hierarchy Process (AHP) and Goal Programming (GP) to (1) assess risks and establish evaluation criteria; (2) formulate migration strategy and rank candidate systems; and (3) allocate resources among the selected systems.

Keywords: decision support systems, open systems architecture, analytic hierarchy process (AHP), goal programming (GP), delphi method

Procedia PDF Downloads 47

Authors: Marcel Chevalier, Léo Dupont, Sylvain Marié, Frédérique Roffet, Elena Stolyarova, William Templier, Costin Vasile

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Industrial end-users are currently facing an increasing need to reduce the risk of unexpected failures and optimize their maintenance. This calls for both short-term analysis and long-term ageing anticipation. At Schneider Electric, we tackle those two issues using both machine learning and first principles models. Machine learning models are incrementally trained from normal data to predict expected values and detect statistically significant short-term deviations. Ageing models are constructed by breaking down physical systems into sub-assemblies, then determining relevant degradation modes and associating each one to the right kinetic law. Validating such anomaly detection and maintenance models is challenging, both because actual incident and ageing data are rare and distorted by human interventions, and incremental learning depends on human feedback. To overcome these difficulties, we propose to simulate physics, systems, and humans -including asset maintenance operations- in order to validate the overall approaches in accelerated time and possibly choose between algorithmic alternatives.

Keywords: degradation models, ageing, anomaly detection, soft sensor, incremental learning

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Authors: Udeh Nneka Evelyn

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The shortcomings of traditional costing system, in terms of validity, accuracy, consistency and relevance increased the need for modern management accounting system. ABC (Activity-Based Costing) can be used as a modern tool for planning, control and decision making for management. Past studies on activity-based costing (ABC) system have focused on manufacturing firms thereby making the studies on service firms scanty to some extent. This paper reviewed the application and relevance of activity-based costing techniques in service oriented business organisations by employing a qualitative research method which relied heavily on literature review of past and current relevant articles focusing on activity-based costing (ABC). Findings suggest that ABC is not only appropriate for use in a manufacturing environment; it is also most appropriate for service organizations such as financial institutions, the healthcare industry, and government organizations. In fact, some banking and financial institutions have been applying the concept for years under other names. One of them is unit costing, which is used to calculate the cost of banking services by determining the cost and consumption of each unit of output of functions required to deliver the service. ABC in very basic terms may provide very good payback for businesses. Some of the benefits that relate directly to the financial services industry are: Identification of the most profitable customers; more accurate product and service pricing; increase product profitability; well-organized process costs.

Keywords: profitability, activity-based costing (ABC), management accounting, manufacture

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Authors: Saddam Hussain, Ghadeer Mohsen Albadrani

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Pakistan is one of the most vulnerable countries to climate change. Being a country where 23% of the country’s GDP relies on agriculture, this is a serious cause of concern. Introducing industrial hemp in Pakistan can help build climate resilience in the agricultural sector of the country, as hemp has recently emerged as a sustainable, eco-friendly, resource-efficient, and climate-resilient crop globally. Hemp has the potential to absorb huge amounts of CO₂, nourish the soil, and be used to create various biodegradable and eco-friendly products. Hemp is twice as effective as trees at absorbing and locking up carbon, with 1 hectare (2.5 acres) of hemp reckoned to absorb 8 to 22 tonnes of CO₂ a year, more than any woodland. Along with its high carbon-sequestration ability, it produces higher biomass and can be successfully grown as a cover crop. Hemp can grow in almost all soil conditions and does not require pesticides. It has fast-growing qualities and needs only 120 days to be ready for harvest. Compared with cotton, hemp requires 50% less water to grow and can produce three times higher fiber yield with a lower ecological footprint. Recently, the Government of Pakistan has allowed the cultivation of industrial hemp for industrial and medicinal purposes, making it possible for hemp to be reinserted into the country’s economy. Pakistan’s agro-climatic and edaphic conditions are well-suitable to produce industrial hemp, and its cultivation can bring economic benefits to the country. Pakistan can enter global markets as a new exporter of hemp products. The production of hemp in Pakistan can be most exciting to the workforce, especially for farmers participating in hemp markets. The minimum production cost of hemp makes it affordable to small holding farmers, especially those who need their cropping system to be as highly sustainable as possible. Dr. Saddam Hussain is leading the first pilot project of Industrial Hemp in Pakistan. In the past three years, he has been able to recruit high-impact research grants on industrial hemp as Principal Investigator. He has already screened the non-toxic hemp genotypes, tested the adaptability of exotic material in various agroecological conditions, formulated the production agronomy, and successfully developed the complete value chain. He has developed prototypes (fabric, denim, knitwear) using hemp fibre in collaboration with industrial partners and has optimized the indigenous fibre processing techniques. In this lecture, Dr. Hussain will talk on hemp agronomy and its complete fibre value chain. He will discuss the current progress, and will highlight the major challenges and future research direction on hemp research.

Keywords: industrial hemp, agricultural sustainability, agronomic evaluation, hemp value chain

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Authors: Madeline W. Miller

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The global textile industry produces pollutants in the form of liquid discharge, solid waste, and emissions into the natural environment. Textile waste resulting from garment production and other manufacturing processes makes a significant contribution to the amount of waste landfilled globally. While the majority of curbside and other convenient recycling methods cater to post-consumer paper and plastics, pre-consumer textile waste is often discarded with trash and is commonly classified as ‘other’ in municipal solid waste breakdowns. On a larger scale, many clothing manufacturers and other companies utilizing textiles have not yet identified or began using the most sustainable methods for discarding their post-industrial, pre-consumer waste. To lessen the amount of waste sent to landfills, there are post-industrial, pre-consumer textile waste recycling methods that can be used to give textiles a new life. This process requires that textile and garment manufacturers redirect their waste to companies that use industrial machinery to shred or fiberize these materials in preparation for their second life. The goal of this literature review is to identify the recycling and reuse challenges faced by producers within the clothing and textile industry that prevent these companies from utilizing the described recycling methods, causing them to opt for landfill. The literature analyzed in this review reflects manufacturer sentiments toward waste disposal and recycling. The results of this review indicate that the cost of logistics is the determining factor when it comes to companies recycling their pre-consumer textile waste and that the most applicable and successful textile waste recycling methods require a company separate from the manufacturer to account for waste production, provide receptacles for waste, arrange waste transport, and identify a secondary use for the material at a price-point below that of traditional waste disposal service.

Keywords: leadership demographics, post-industrial textile waste, pre-consumer textile waste, industrial shoddy

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Authors: Neha Ahirwar

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In the contemporary digital era, the rise of credit card fraud poses a significant threat to both financial institutions and consumers. As fraudulent activities become more sophisticated, there is an escalating demand for robust and effective fraud detection mechanisms. Advanced machine learning algorithms have become crucial tools in addressing this challenge. This paper conducts a thorough examination of the design and evaluation of a credit card fraud detection system, utilizing four prominent machine learning algorithms: random forest, logistic regression, decision tree, and XGBoost. The surge in digital transactions has opened avenues for fraudsters to exploit vulnerabilities within payment systems. Consequently, there is an urgent need for proactive and adaptable fraud detection systems. This study addresses this imperative by exploring the efficacy of machine learning algorithms in identifying fraudulent credit card transactions. The selection of random forest, logistic regression, decision tree, and XGBoost for scrutiny in this study is based on their documented effectiveness in diverse domains, particularly in credit card fraud detection. These algorithms are renowned for their capability to model intricate patterns and provide accurate predictions. Each algorithm is implemented and evaluated for its performance in a controlled environment, utilizing a diverse dataset comprising both genuine and fraudulent credit card transactions.

Keywords: efficient credit card fraud detection, random forest, logistic regression, XGBoost, decision tree

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Authors: Seyed Hossein Iranmanesh, Hassan Nouri, Seyed Reza Iranmanesh

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In the dynamic and complex landscape of today’s business, organizations often face challenges in impactful decision-making across multi-project settings. To efficiently allocate resources, coordinate tasks, and optimize project outcomes, establishing robust decision-making processes is essential. Furthermore, the increasing importance of information systems and their integration within organizational workflows introduces an additional layer of complexity. This research proposes the use of blockchain technology as a suitable solution to enhance decision-making in multi-project environments, particularly within the realm of information systems. The conceptual framework in this study comprises four independent variables and one dependent variable. The identified independent variables for the targeted research include: Blockchain Layer in Integrated Systems, Quality of Generated Information ,User Satisfaction with Integrated Systems and Utilization of Integrated Systems. The project’s performance, considered as the dependent variable and moderated by organizational policies and procedures, reflects the impact of blockchain technology adoption on organizational effectiveness1. The results highlight the significant influence of blockchain implementation on organizational performance.

Keywords: multi-project environments, decision support systems, information systems, blockchain technology, decentralized systems.

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Authors: Suneeta Kumari, Abanti Sahoo

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Industrial effluents treatment is a major problem in the world. All wastewater treatment methods have some problems in the environment. Due to this reason, today many natural biopolymers are being used in the waste water treatment because those are safe for our environment. In this study, synthesis and characterization of polyethersulfone/chitosan membranes (Thin film composite membrane) are carried out. Fish scales are used as raw materials. Different characterization techniques such as Fourier transform infrared spectroscopy (FTIR), X-ray powder diffraction (XRD), scanning electron microscope (SEM) and Thermal gravimetric analysis (TGA) are analysed for the synthesized membrane. The performance of membranes such as flux, rejection, and pore size are also checked. The synthesized membrane is used for the treatment of steel industry waste water where Biochemical oxygen demand (BOD), Chemical Oxygen Demand (COD), pH, colour, Total dissolved solids (TDS), Total suspended solids (TSS), Electrical conductivity (EC) and Turbidity aspects are analysed.

Keywords: fish scale, membrane synthesis, treatment of industrial effluents, chitosan

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Authors: Nihar Bheda

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Protecting digital assets such as networks, systems, and data from advanced cyber threats is the aim of Digital Immunity Systems (DIS), which are a subset of cybersecurity. With features like continuous monitoring, coordinated reactions, and long-term adaptation, DIS seeks to mimic biological immunity. This minimizes downtime by automatically identifying and eliminating threats. Traditional security measures, such as firewalls and antivirus software, are insufficient for enterprises, such as healthcare providers, given the rapid evolution of cyber threats. The number of medical record breaches that have occurred in recent years is proof that attackers are finding healthcare data to be an increasingly valuable target. However, obstacles to enhancing security include outdated systems, financial limitations, and a lack of knowledge. DIS is an advancement in cyber defenses designed specifically for healthcare settings. Protection akin to an "immune system" is produced by core capabilities such as anomaly detection, access controls, and policy enforcement. Coordination of responses across IT infrastructure to contain attacks is made possible by automation and orchestration. Massive amounts of data are analyzed by AI and machine learning to find new threats. After an incident, self-healing enables services to resume quickly. The implementation of DIS is consistent with the healthcare industry's urgent requirement for resilient data security in light of evolving risks and strict guidelines. With resilient systems, it can help organizations lower business risk, minimize the effects of breaches, and preserve patient care continuity. DIS will be essential for protecting a variety of environments, including cloud computing and the Internet of medical devices, as healthcare providers quickly adopt new technologies. DIS lowers traditional security overhead for IT departments and offers automated protection, even though it requires an initial investment. In the near future, DIS may prove to be essential for small clinics, blood banks, imaging centers, large hospitals, and other healthcare organizations. Cyber resilience can become attainable for the whole healthcare ecosystem with customized DIS implementations.

Keywords: digital immunity system, cybersecurity, healthcare data, emerging technology

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Authors: Mohammad Salem Abdullah Alhwaiti

Abstract:

This study was conducted to assess the physical, chemical, and radionuclide concentrations of pharmaceutical industrial wastewater effluents. Fourteen wastewater samples were collected from pharmaceutical industries. The results showed a marked reduction in the levels of TH, Mg, and Ca concentration in wastewater limit for properties and criteria for discharge of wastewater to streams or wadies or water bodies in the effluent, whereas TSS and TDS showed higher concentration allowable for discharge of wastewater to streams or wadies or water bodies. The gross α activity in all the wastewater samples ranged between (0.086-0.234 Bq/L) lowered the 0.1 Bq/L limit set by World Health Organization (WHO), whereas gross β activity in few samples ranged between (2.565-4.800 Bq/L), indicating the higher limit set by WHO. Gamma spectroscopy revealed that K-40, Cr-51, Co-60, I-131, Cs-137, and U-238 activity are ≤0.114 Bq/L, ≤0.062 Bq/L, ≤0.00815Bq/L, ≤0.00792Bq/L, ≤0.00956 Bq/L, and ≤0.151 Bq/L, respectively, indicating lowest concentrations of these radionuclides in the pharmaceutical industrial wastewater effluents.

Keywords: pharmaceutical wastewater, gross α/β activity, radionuclides, Jordan

Procedia PDF Downloads 93

Authors: R. Knizek, D. Karhankova

Abstract:

The production of nanofibers and the machinery for their production is a current issue. The pioneer, in the industrial production of nanofibers, is the machinery with the sales descriptions Nanospider^TM from the company Elmarco, which came into being in 2008. Most of the production facilities, like Nanospider^TM, use electrospinning. There are also other methods of industrial production of nanofibers, such as the centrifugal spinning process, which is used by FibeRio Technology Corporation. However, each method and machine has its advantages, but also disadvantages and that is the reason why a new machine called as Nanomachine, which eliminates the disadvantages of other production facilities producing nanofibers, has been developed.

Keywords: nanomachine, nanospider, spinning slat, electrospinning

Procedia PDF Downloads 305

Authors: Sohail Ahmed, Ke Xing

Abstract:

This research theoretically explored the evolution mechanism of enterprise technological innovation capability system (ETICS) from the perspective of complex adaptive systems (CAS). This research proposed an analytical framework for ETICS, its concepts, and theory by integrating CAS methodology into the management of the technological innovation capability of enterprises and discusses how to use the principles of complexity to analyze the composition, evolution, and realization of the technological innovation capabilities in complex dynamic environments. This paper introduces the concept and interaction of multi-agent, the theoretical background of CAS, and summarizes the sources of technological innovation, the elements of each subject, and the main clusters of adaptive interactions and innovation activities. The concept of multi-agents is applied through the linkages of enterprises, research institutions, and government agencies with the leading enterprises in industrial settings. The study was exploratory and based on CAS theory. Theoretical model is built by considering technological and innovation literature from foundational to state of the art projects of technological enterprises. On this basis, the theoretical model is developed to measure the evolution mechanism of the enterprise's technological innovation capability system. This paper concludes that the main characteristics for evolution in technological systems are based on the enterprise’s research and development personnel, investments in technological processes, and innovation resources are responsible for the evolution of enterprise technological innovation performance. The research specifically enriched the application process of technological innovation in institutional networks related to enterprises.

Keywords: complex adaptive system, echo model, enterprise technological innovation capability system, research institutions, multi-agents

Procedia PDF Downloads 137

Authors: M. Y. Saleh, G. M. ELanany, M. H. Elzahar, M. Z. Elshikhipy

Abstract:

Industrial wastewater discharge, which carries high concentrations of dissolved solids and iron, could be treated by high rate activated sludge stage of the multiple-stage sludge treatment plant, a system which is characterized by high treatment efficiency, optimal prices, and small areas compared with conventional activated sludge treatment plants. A pilot plant with an influent industrial discharge flow of 135 L/h was designed following the activated sludge system to simulate between the biological and chemical treatment with the addition of dosages 100, 150, 200 and 250 mg/L alum salt to the aeration tank. The concentrations of total dissolved solids (TDS) and iron (Fe) in industrial discharge flow had an average range of 140000 TDS and 4.5 mg/L iron. The optimization of the chemical-biological process using a dosage of 200 mg/L alum succeeded to improve the removal efficiency of TDS and total iron to 48.15% and 68.11% respectively.

Keywords: wastewater, activated sludge, TDS, total iron

Procedia PDF Downloads 295

Authors: Maryam Zahmatkesh

Abstract:

Middle managers form a significant occupational category in organisations. They undertake a vital role, as they sit between the operational and strategic roles. Traditionally they were acting as diplomat administrators, and were only in power to meet the demands of professionals. Following the introduction of internal market, in line with the principles of New Public Management, middle managers have been considered as change agents. More recently, in the debates of middle managers, there is emphasis on entrepreneurialism and enacting strategic role. It was assumed that granting autonomy to the local organisations and the inception of semi-autonomous hospitals (Foundation Trusts in England and Board of Trustees in Iran) would give managers more autonomy to act proactively and innovatively. This thesis explores the hospital middle managers’ perception of and responses to public management reforms (in particular, hospital autonomy) in England and Iran. In order to meet the aims of the thesis, research was undertaken within the interpretative paradigm, in line with social constructivism. Data were collected from interviews with forty-five middle managers, observational fieldwork and documentary analysis across four teaching university hospitals in England and Iran. The findings show the different ways middle managers’ autonomy is constrained in the two countries. In England, middle managers have financial and human recourses, but their autonomy is constrained by government policy and targets. In Iran, middle managers are less constrained by government policy and targets, but they do not have financial and human resources to exercise autonomy. Unbalanced autonomy causes tension and frustration for middle managers. According to neo-institutional theory, organisations are deeply embedded within social, political, economic and normative settings that exert isomorphic and internal population-level pressures to conform to existing and established modes of operation. Health systems which are seeking to devolve autonomy to middle managers must appreciate the multidimensional nature of the autonomy, as well as the wider environment that organisations are embedded, if they are about to improve the performance of managers and their organisations.

Keywords: autonomy, healthcare organisations, middle managers, new public management

Procedia PDF Downloads 310