Search results for: dispersion of ownership

Authors: Imen Latrous

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Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Yuanyi (Richard) Fang

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Under the theory of La Porta, Lopez-de-Silanes, Shleifer, and Vishny, if a country can increase its legal protections for minority shareholders, the country can develop an ideal securities market that only arises under the dispersed ownership corporate governance. However, the path-dependence scholarship, such as Lucian Arye Bebchuk and Mark J. Roe, presented a different view with LLS&V. They pointed out that the initial framework of the ownership structure and traditional culture will prevent the change of the corporate governance structure through legal reform. This paper contends that traditional culture factors as an important aspect when forming the corporate governance structure. However, it is not impossible for the government to change its traditional corporate governance structure and traditional culture because the culture does not remain intact. Culture evolves with time. The occurrence of the important events will affect the people’s psychological process. The psychological process affects the evolution of culture. The new cultural norms can help defeat the force of the traditional culture and the resistance from the initial corporate ownership structure. Using Taiwan as an example, through analyzing the historical background, related corporate rules and the reactions of adoption new rules from the media, this paper try to show that Taiwan’s culture norms do not remain intact and have changed with time. It further provides that the culture is not always the hurdle for the adoption of the dispersed ownership corporate governance structure as the culture can change. A new culture can provide strong support for the adoption of the new corporate governance structure.

Keywords: LLS&V theory, corporate governance, culture, path–dependent theory

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Authors: A. Cerrato Casado, C. Guigou, P. Jean

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In this investigation, the particle swarm optimization (PSO) algorithm is used to perform the inversion of the dispersion curves in the spectral analysis of surface waves (SASW) method. This inverse problem usually presents complicated solution spaces with many local minima that make difficult the convergence to the correct solution. PSO is a metaheuristic method that was originally designed to simulate social behavior but has demonstrated powerful capabilities to solve inverse problems with complex space solution and a high number of variables. The dispersion curve of the synthetic soils is constructed by the vertical flexibility coefficient method, which is especially convenient for soils where the stiffness does not increase gradually with depth. The reason is that these types of soil profiles are not normally dispersive since the dominant mode of Rayleigh waves is usually not coincident with the fundamental mode. Multiple synthetic soil profiles have been tested to show the characteristics of the convergence process and assess the accuracy of the final soil profile. In addition, the inversion procedure is applied to multiple real soils and the final profile compared with the available information. The combination of the vertical flexibility coefficient method to obtain the dispersion curve and the PSO algorithm to carry out the inversion process proves to be a robust procedure that is able to provide good solutions for complex soil profiles even with scarce prior information.

Keywords: dispersion, inverse problem, particle swarm optimization, SASW, soil profile

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Authors: E. S. Manuylovich, V. A. Astapenko, P. A. Golovinsky

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The dispersion relation binding the constant of propagation and frequency is calculated for silver cone. The evolution of the electric field of ultrashort pulse during its propagation in conical structure is considered. Increasing of electric field during pulse propagation to the top of the cone is observed. Reduction of the pulse duration at a certain distance is observed. The dependence of minimum pulse duration on initial chirp and cone angle is investigated.

Keywords: ultrashort pulses, surface plasmon polariton, dispersion, silver cone

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Authors: Opara Monica Onyinyechi, Ahmad Iqmer Nashriq Mohd Nazan, Suriani Ismail

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Introduction: Global estimates of malaria indicate that at least 3.3 billion people are at risk of being infected with malaria and 1.2 billion are at high risk. The review investigates the effectiveness of health education strategies to increase the level of malaria knowledge and ITN ownership among the populations of sub-Sahara African countries. Methods: A literature search was conducted using Science direct, CINAHL, PubMed, Prisma, Pico, Cochrane library and PsycINFO databases to retrieve articles published between 2000 until 2020. Eleven studies that reported on malaria prevention and intervention using health education strategies conducted in sub-Saharan Africa were included in the final review. Results: Four studies used educational interventions to teach appropriate ITN strategies and promote ITN usage. Two others focused on improving knowledge of malaria transmission, prevention, treatment, and its signs and symptoms. The remaining five studies assessed both ITN use and malaria knowledge. Of these, 10 were eligible for meta-analysis. On average, health education interventions significantly increase the odds of a person in the intervention group to report better malaria knowledge (odds ratio 1.30, 95% CI: 1.00 to 1.70, P= 0.05) and higher ITN ownership (odds ratio 1.53, 95% CI: 1.02 to 2.29, P= 0.004) compared to those in the control group. The odds of ITN ownership also substantially increases when the intervention was based on a theory or model (odds ratio 5.27, 95% CI: 3.24 to 8.58, P= 0.05). Conclusion: Our review highlights the various health education strategies used in sub-Saharan Africa to curb malaria over the past two decades. Meta-analysis findings show that health education intervention is moderately effective in improving malaria knowledge and ITN ownership and has contributed to the effort of global malaria strategy.

Keywords: malaria, health education, insecticide treated nets, sub-Saharan Africa, meta-analysis

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Authors: Henriette Scholtz

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Excessive executive directors’ remuneration remains a major concern for many stakeholders and are some of the factors to blame for the recent global financial crisis. The objective of this study was to examine whether certain firm characteristics are an effective way of protecting shareholders’ interests with respect to executive directors’ remuneration. To achieve this, an ordinary least squares model was used to test the relationship between the remuneration of executive directors and a number of firm and corporate governance characteristics to determine whether these characteristics have an influence on executive directors’ remuneration of large listed companies in South Africa. It was found that corporate governance reforms relating to institutional ownership, shareholder voting on the remuneration policy and the number of remuneration committee meetings acts as an effective governance tool to protect shareholder’s interests with regard to executive remuneration. There is no evidence that the number of non-executive directors on the remuneration committee has an influence on the executive directors’ remuneration.

Keywords: executive directors’ remuneration, agency theory, corporate governance, remuneration committee, directors’ shareholding, institutional ownership

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Authors: Bing Li, Tong Lu, Lei Qiang

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Stoneley waves are interface waves that propagate at the interface between two solid media. In this study, the dispersion characteristics and wave structures of Stoneley waves in elastic multilayered plates are displayed and investigated. With a perspective of bulk wave, a reasonable assumption of the potential function forms of the expansion wave and shear wave in nth layer medium is adopted, and the characteristic equation of Stoneley waves in a three-layered plate is given in a determinant form. The dispersion curves and wave structures are solved and presented in both numerical and simulation results. It is observed that two Stoneley wave modes exist in a three-layered plate, that conspicuous dispersion occurs on low frequency band, that the velocity of each Stoneley wave mode approaches the corresponding Stoneley wave velocity at interface between two half infinite spaces. The wave structures reveal that the in-plane displacement of Stoneley waves are relatively high at interfaces, which shows great potential for interface defects detection.

Keywords: characteristic equation, interface waves, potential function, Stoneley waves, wave structure

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Authors: Tayfun Cay, Fazil Nacar

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Energy investments have increased in North Mediterranean Ceyhan and Yumurtalık districts of Turkey in the last years because of the treaties which are signed between Turkey and other countries for petroleum and natural gas transmission. Authority of land use has passed to district and metropolitan municipalities from town municipalities because of changes in coast legislation and local management legislation. Also Ministry of Environment and Urban Planning and Ministry of Industry and Commerce have had a right to comment on planning unofficially. Public investments increase in area and related planning and expropriation services continue. On the other hand, a lot of private sectors invest in organised industrial sites and industrial areas and it causes a rapid change in ownership status. Also Ceyhan-yumurtalık region is the tourism centre of North Mediterranean. Tourism investments continue in this district. Especially construction sector gain speed and a lot of country sites and apartments are built. In these studies, changes in planning activities in management of different administrative organisations and changes in ownership status and changes in private properties will be presented.

Keywords: coast management, land management, land use, property, public interest

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Authors: M. Masłowski, M. Zaborski

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Magnetorheological elastomer composites based on micro- and nano-sized Fe3O4 magnetoactive fillers in silicone rubber are reported and studied. To improve the dispersion of applied fillers in polymer matrix, ionic liquids such as 1-ethyl-3-methylimidazolium diethylphosphate, 1-butyl-3-methylimidazolium hexafluorophosphate, 1-hexyl-3-methylimidazolium chloride, 1-butyl-3-methylimidazolium trifluoromethanesulfonate,1-butyl-3-methylimidazolium tetrafluoroborate, trihexyltetradecylphosphonium chloride were added during the process of composites preparation. The method of preparation process influenced the specific properties of MREs (isotropy/anisotropy), similarly to ferromagnetic particles content and theirs quantity. Micro and non-sized magnetites were active fillers improving the mechanical properties of elastomers. They also changed magnetic properties and reinforced the magnetorheological effect of composites. Application of ionic liquids as dispersing agents influenced the dispersion of magnetic fillers in the elastomer matrix. Scanning electron microscopy images used to observe magnetorheological elastomer microstructures proved that the dispersion improvement had a significant effect on the composites properties. Moreover, the particles orientation and their arrangement in the elastomer investigated by vibration sample magnetometer showed the correlation between MRE microstructure and their magnetic properties.

Keywords: magnetorheological elastomers, iron oxides, ionic liquids, dispersion

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Authors: Muhammad Umar Kibiya

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The study aims to examine whether regulatory changes have an impact on the financial reporting quality of Microfinance Banks in Nigeria. The research employed a panel data analysis technique, using data from 2018 to 2022. The sample includes 72 microfinance banks, using regression analyses to examine the relationship between variables. The findings indicate that Board Chairmanship has a positive and significant effect on financial reporting quality. It also reveals that share ownership has a negative and significant impact on financial reporting quality. The results suggest that regulatory changes have a positive and significant influence on financial reporting quality. Thus, findings have important implications for microfinance banks in Nigeria. It suggests that having a strong and competent board chairperson can enhance financial reporting quality, leading to more transparent and reliable information for stakeholders. Furthermore, the study highlights the importance of regulatory changes in improving financial reporting practices in the microfinance banking sector. The study contributes to the extant literature by providing empirical evidence on the relationship between board chairmanship, share ownership, financial reporting quality, and regulatory changes in microfinance banks. It further supports the concept that governance mechanisms and regulatory reforms play a crucial role in ensuring transparency and accountability within the microfinance banking sector. It recommends that microfinance banks should appoint experienced and qualified individuals as board chairpersons to enhance financial reporting quality. Furthermore, policymakers and regulatory authorities should continue to implement and enforce regulations that promote transparent financial reporting practices in microfinance banks.

Keywords: board chairman, share ownership, financial reporting quality, microfinance, regulatory changes

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Authors: Michaela Wang

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Since British established colonial settlements across the East Coast, Native Americans have suffered stark socio economic disparities in comparison to their neighboring communities. This paper employs the 1990, 2000, and 2010 United States Decennial Census to assess whether and to what extent the casino economy helped to close this socioeconomic gap between the Mohegan tribe and its surrounding community. These three Decennial Censuses cover two decades, from six years prior to the erection of Mohegan Sun casino to 14 years afterwards, including the Great Recession 2007-2009. Income, employment, education and housing parameters are selected as socio economic indicators. The profitable advent of the Mohegan Sun in 1996 dramatically improved the socio economic status of the Mohegan Tribe between 1990 and 2000. In fact, for most of these indicators––poverty, median household income, employment, home ownership, and car ownership––disparities shifted; tribal socioeconomic parameters improved from well below the level of New London County in 1990, to the same level or above the county rates in 2000. However, economic downturn in 2007-2009 Great Recession impacted Mohegan people remarkably. By 2010, disparities for household income, employment, home ownership, and car ownership returned. The casino bridged socio economic inequalities, but at the face of economic crises, the mono-product economy grew vulnerable.

Keywords: socio economic, indigenous, native American, disparity

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Authors: King Kumire

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The Outer Space Treaty and the Moon Treaty have been the backbone of space law. However, scientists, engineers, and policymakers have been silent about how human settlement on celestial bodies would change the legal dimensions of space law. Indeed, these legal space regimes should have a prescription on how galactic courts should deal with the aspect of space property ownership. On this planet earth, one can vindicate his own assets. In extraterrestrial environments, this is not the case because space law is fatigued by terrestrial body sovereignty, which must be upheld. However, the recent commercialization of microgravity environments requires property ownership laws to be enacted. Space activities have mutated to the extent that it is almost possible to build communities in space. The discussions on the moon village concept will be mentioned as well to give clarity on the subject to the audience. It should be stated that launchers can now explore the cosmos with space tourists. The world is also busy doing feasibility studies on how to implement space mining projects. These activities indisputably show that the research is important because it will not only expose how the cosmic world is constrained by existing legal frameworks, but it will provide a remedy for how the inevitable dilemma of property rights can be resolved through the formulation of multilateral and all-inclusive policies. The discussion will model various aspects of terrestrial property rights and the associated remedies against what can be applicable and customized for use in extraterrestrial environments. Transfer of ownership in space is also another area of interest as the researcher shall try to distinguish between envisaged personal and real rights in the new frontier vis-a-vis mainland transfer transactions. The writer imagines the extent to which the concepts of servitudes, accession, prescription and commixes, and other property templates can act as a starting point when cosmic probers move forward with the revision of orbital law. The article seeks to reconcile these ownership constraints by working towards the development of a living space common law which is elastic and embroidered by sustainable recommendations. A balance between transplanting terrestrial laws to the galactic arena and the need to enact new ones which will complement the existing space treaties will be meticulously pivoted.

Keywords: rights, commercialisation, ownership, sovereignty

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Authors: Hanifeh Imanian, Morteza Kolahdoozan

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The purpose of this study is to present a mathematical phrase for calculating the dispersion rate of spilled oil in water column under non-breaking waves. In this regard, a multiphase numerical model is applied for which waves and oil phase were computed concurrently, and accuracy of its hydraulic calculations have been proven. More than 200 various scenarios of oil spilling in wave waters were simulated using the multiphase numerical model and its outcome were collected in a database. The recorded results were investigated to identify the major parameters affected vertical oil dispersion and finally 6 parameters were identified as main independent factors. Furthermore, some statistical tests were conducted to identify any relationship between the dependent variable (dispersed oil mass in the water column) and independent variables (water wave specifications containing height, length and wave period and spilled oil characteristics including density, viscosity and spilled oil mass). Finally, a mathematical-statistical relationship is proposed to predict dispersed oil in marine waters. To verify the proposed relationship, a laboratory example available in the literature was selected. Oil mass rate penetrated in water body computed by statistical regression was in accordance with experimental data was predicted. On this occasion, it was necessary to verify the proposed mathematical phrase. In a selected laboratory case available in the literature, mass oil rate penetrated in water body computed by suggested regression. Results showed good agreement with experimental data. The validated mathematical-statistical phrase is a useful tool for oil dispersion prediction in oil spill events in marine areas.

Keywords: dispersion, marine environment, mathematical-statistical relationship, oil spill

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Authors: DucTho Le, Duy Kien Dao, Quoc Tinh Bui, Haidang Phan

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The article is concerned with the motion of ultrasonic guided waves in a unidirectional fiber-reinforced composite plate under acoustic sources. Such unidirectional composite material has orthotropic elastic properties as it is very stiff along the fibers and rather compliant across the fibers. The dispersion equations of free Lamb waves propagating in an orthotropic layer are derived that results in the dispersion curves. The connection of these equations to the Rayleigh-Lamb frequency relations of isotropic plates is discussed. By the use of reciprocity in elastodynamics, closed-form solutions of elastic wave motions subjected to time-harmonic loads in the layer are computed in a simple manner. We also consider the problem of Lamb waves generated by a set of time-harmonic sources. The obtained computations can be very useful for developing ultrasound-based methods for nondestructive evaluation of composite structures.

Keywords: lamb waves, fiber-reinforced composite plates, dispersion equations, nondestructive evaluation, reciprocity theorems

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Authors: M. Dehghan, R. Al-Mahaidi, I. Sbarski

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An industrial epoxy adhesive used in Carbon Fiber Reinforced Polymer (CFRP)-strengthening systems was modified by dispersing multi-walled carbon nanotubes (MWCNTs). Nanocomposites were fabricated using solvent-assisted dispersion method and ultrasonic mixing. Thermogravimetric analysis (TGA), dynamic mechanical analysis (DMA) and tensile tests were conducted to study the effect of nanotubes dispersion on the thermal and mechanical properties of the epoxy composite. Experimental results showed a substantial enhancement in the decomposition temperature and tensile properties of epoxy composite, while, the glass transition temperature (Tg) was slightly reduced due to the solvent effect. The morphology of the epoxy nanocomposites was investigated by SEM. It was proved that using solvent improves the nanotubes dispersion. However, at contents higher than 2 wt. %, nanotubes started to re-bundle in the epoxy matrix which negatively affected the final properties of epoxy composite.

Keywords: carbon fiber reinforced polymer, epoxy, multi-walled carbon nanotube, DMA, glass transition temperature

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Authors: Solmaz Jahed Shiran, John Hearne, Tayebeh Saghapour

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Daily travel behavior is strongly influenced by the location of the places of residence, education, and employment. Hence a change in those locations due to a move or changes in an occupation leads to a change in travel behavior. Given the interventions of housing mobility and travel behaviors, the hypothesis is that a mobile housing market allows households to move as a result of any change in their life course, allowing them to be closer to central services, public transport facilities and workplace and hence reducing the time spent by individuals on daily travel. Conversely, household’s immobility may lead to longer commutes of residents, for example, after a change of a job or a need for new services such as schools for children who have reached their school age. This paper aims to investigate the association between residential mobility and travel behavior. The Victorian Integrated Survey of Travel and Activity (VISTA) data is used for the empirical analysis. Car ownership and journey to work time and distance of employed people are used as indicators of travel behavior. Change of usual residence within the last five years used to identify movers and non-movers. Statistical analysis, including regression models, is used to compare the travel behavior of movers and non-movers. The results show travel time, and the distance does not differ for movers and non-movers. However, this is not the case when taking into account the residence tenure-type. In addition, car ownership rate and number found to be significantly higher for non-movers. It is hoped that the results from this study will contribute to a better understanding of factors other than common socioeconomic and built environment features influencing travel behavior.

Keywords: journey to work, regression models, residential mobility, commute mode, car ownership

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Authors: Ishak Ramli, Mohamad Noorman Masrek, Muhamad Abdul Aziz Ab Gani

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Islam places restrictions and limitation to the creation and ownership of visual art. Not all forms of visual arts are permissible in Islam. However, guidance on the creation and ownership of visual arts is not made plain and clear not only to the Islamic followers but also to the art community. Given this gap, this study attempts to develop a conceptual framework that will guide artist and art collectors on what constitute to valid and acceptable through the Islamic perspective. Based on this framework, several research checklist are proposed. It is highly useful especially for the researchers who are interested to study the topic. Qualitative research is the best choice to test run the paper work to attempt all the checklist which are formed.

Keywords: contemporary visual art, Shariah, conceptual framework, Islam

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Authors: Kostandinos Katsamangas, Fawad Inam

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Graphene was dispersed using a tip sonicator and the effect of surfactants were analysed. Sodium Dodecyl Sulphate (SDS) and Polyvinyl Alcohol (PVA) were compared to observe whether or not they had any effect on any de-wrinkling, and secondly whether they aided to achieve better dispersions. There is a huge demand for wrinkle free graphene as this will greatly increase its usefulness in various engineering applications. A comprehensive literature on de-wrinkling graphene has been discussed. Low magnification Scanning Electronic Microscopy (SEM) was conducted to assess the quality of graphene de-wrinkling. The utilization of the PVA has a significant effect on de-wrinkling whereas SDS had minimal effect on the de-wrinkling of graphene.

Keywords: Graphene, de-wrinkling, dispersion, surfactants, scanning electronic microscopy

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Authors: Jyoti Bharj, Sarabjit Singh, Subhash Chander, Rabinder Singh

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The outstanding mechanical properties of Carbon Nanotubes (CNTs) have generated great interest for their potential as reinforcements in high performance cementitious composites. The main challenge in research is the proper dispersion of carbon nanotubes in the cement matrix. The present work discusses the role of dispersion of Multiwall Carbon Nanotubes (MWCNTs) on the compressive strength characteristics of hydrated Portland IS 1489 cement paste. Cement-MWCNT composites with different mixing techniques were prepared by adding 0.2% (by weight) of MWCNTs to Portland IS 1489 cement. Rectangle specimens of size approximately 40mm × 40mm ×160mm were prepared and curing of samples was done for 7, 14, 28, and 35 days. An appreciable increase in compressive strength with both techniques; mixture of MWCNTs with cement in powder form and mixture of MWCNTs with cement in hydrated form 7 to 28 days of curing time for all the samples was observed.

Keywords: carbon nanotubes, Portland cement, composite, compressive strength

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Authors: Ramin Dabirian, Yi Zhang, Ilias Gavrielatos, Ram Mohan, Ovadia Shoham

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Oil-water emulsions can be found in almost every part of the petroleum industry, namely in reservoir rocks, drilling cuttings circulation, production in wells, transportation pipelines, surface facilities and refining process. However, it is necessary for oil production and refinery engineers to resolve the petroleum emulsion problems as well as to eliminate the contaminants in order to meet environmental standards, achieve the desired product quality and to improve equipment reliability and efficiency. A state-of-art Dispersion Characterization Rig (DCR) has been utilized to investigate crude oil-distilled water dispersion separation. Over 80 experimental tests were ran to investigate the flow behavior and stability of the dispersions. The experimental conditions include the effects of water cuts (25%, 50% and 75%), NaCl concentrations (0, 3.5% and 18%), mixture flow velocities (0.89 and 1.71 ft/s), and also orifice place types on the separation rate. The experimental data demonstrate that the water cut can significantly affects the separation time and efficiency. The dispersion with lower water cut takes longer time to separate and have low separation efficiency. The medium and lower water cuts will result in the formation of Mousse emulsion and the phase inversion happens around the medium water cut. The data also confirm that increasing the NaCl concentration in aqueous phase can increase the crude oil water dispersion separation efficiency especially at higher salinities. The separation profile for dispersions with lower salt concentrations has a lower sedimentation rate slope before the inflection point. Dispersions in all tests with higher salt concentrations have a larger sedimenting rate. The presence of NaCl can influence the interfacial tension gradients along the interface and it plays a role in avoiding the Mousse emulsion formation.

Keywords: oil-water dispersion, separation mechanism, phase inversion, emulsion formation

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Authors: María Molinos-Senante, Giulia Romano

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This paper aims at investigating the effect of ownership in the efficiency assessment of municipal solid waste management. In doing so, the Data Envelopment Analysis meta-frontier approach integrating unsorted waste as undesirable output was applied. Three different clusters of municipalities have been created on the basis of the ownership type of municipal waste operators. In the second stage of analysis, the paper investigates factors affecting efficiency, in order to provide an outlook of levers to be used by policy and decision makers to improve efficiency, taking into account different management models in force. Results show that public waste management firms have better performance than mixed and private ones since their efficiency scores are significantly larger. Moreover, it has been demonstrated that the efficiency of waste management firms is statistically influenced by the age of population, population served, municipal size, population density and tourism rate. It evidences the importance of economies of scale on the cost efficiency of waste management. This issue is relevant for policymakers to define and implement policies aimed to improve the long-term sustainability of waste management in municipalities.

Keywords: data envelopment analysis, efficiency, municipal solid waste, ownership, undesirable output

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Authors: Amrita Das, Abhishek Kumar Singh

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The present paper calibrates the efficacy of corrugated and loosely bonded common interface of a viscoelastic layer and a dry sandy Gibson half-space on the propagation of torsional surface wave. Using suitable boundary conditions, the dispersion relation for the concerned problem is deduced in complex form. Numerical computation of the real part of the obtained dispersion relation gives the dispersion curve whereas the imaginary part bestows the damping curves. The use of Whittaker’s function and Bessel’s functions are among the major concerns of the paper. The investigation of the influence of the affecting parameters viz. heterogeneities, sandiness, Biot’s gravity parameter, initial stresses, loosely bonded interface, corrugation and internal friction on the phase velocity as well as damped velocity of torsional wave, through numerical discussion and graphical illustration, is among the major highlights of the current study.

Keywords: corrugation, dry sandy Gibson half-space, loosely bonded interface, torsional wave, viscoelastic layer

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Authors: Zahra A. Al Nasser, Domenico Campa

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This paper investigates board of directors and firms’ ownership structure on non-financial companies listed in Gulf Cooperation council (GCC) countries using data from 2009 to 2013. The overall result of the study is that board size and board meeting have increased over years. Additionally, all combined committee variables have improved as well as audit committee size, audit committee meeting and audit committee experience have improved over the years. Furthermore, Oman is the only country that has not shown any statistically significant change in value of its associated variables.

Keywords: corporate governance, GCC countries, board of directors, ownership structure

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Authors: Qiang Zhang, Xiaojian Hu

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Aiming at the problem of the existing real-time evaluation methods for traffic safety status, a video information-based urban road section traffic safety status evaluation method was established, and the rapid detection method of traffic flow parameters based on video information is analyzed. The concept of the speed dispersion of the road section that affects the traffic safety state of the urban road section is proposed, and the method of evaluating the traffic safety state of the urban road section based on the speed dispersion of the road section is established. Experiments show that the proposed method can reasonably evaluate the safety status of urban roads in real-time, and the evaluation results can provide a corresponding basis for the traffic management department to formulate an effective urban road section traffic safety improvement plan.

Keywords: intelligent transportation system, road traffic safety, video information, vehicle speed dispersion

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Authors: G. R. Khan, Sadia Mahjabin, A. S. Mollah, M. R. Mawla

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Atmospheric dispersion modeling is significant for any nuclear facilities in the country to predict the impact of radiological doses on environment as well as human health. That is why to ensure safety of workers and population at plant site; Atmospheric dispersion modeling and radiation dose calculations were carried out for a hypothetical accidental release of airborne radionuclide from the 3 MW TRIGA research reactor of Savar, Bangladesh. It is designed with reactor core which consists of 100 fuel elements(1.82245 cm in diameter and 38.1 cm in length), arranged in an annular corefor steady-state and square wave power level of 3 MW (thermal) and for pulsing with maximum power level of 860MWth.The fuel is in the form of a uniform mixture of 20% uranium and 80% zirconium hydride. Total effective doses (TEDs) to the public at various downwind distances were evaluated with a health physics computer code “HotSpot” developed by Lawrence Livermore National Laboratory, USA. The doses were estimated at different Pasquill stability classes (categories A-F) with site-specific averaged meteorological conditions. The meteorological data, such as, average wind speed, frequency distribution of wind direction, etc. have also been analyzed based on the data collected near the reactor site. The results of effective doses obtained remain within the recommended maximum effective dose.

Keywords: accidental release, dispersion modeling, total effective dose, TRIGA

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Authors: M. Sumida, T. Fujimoto

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Fiber-concentration distributions in pulp liquid flows behind dispersion promoters were experimentally investigated to explore the feasibility of improving operational performance of hydraulic headboxes in papermaking machines. The proposed research was performed in the form of a basic test conducted on a screen-type model comprising a circular cylinder inserted within a channel. Tests were performed using pulp liquid possessing fiber concentrations ranging from 0.3-1.0 wt% under different flow velocities of 0.016-0.74 m/s. Fiber-concentration distributions were measured using the transmitted light attenuation method. Obtained test results were analyzed, and the influence of the flow velocities on wake characteristics behind the cylinder has been investigated with reference to findings of our preceding studies concerning pulp liquid flows in straight channels. Changes in fiber-concentration distribution along the flow direction were observed to be substantially large in the section from the cylinder to four times its diameter downstream of its centerline. Findings of this study provide useful information concerning the development of hydraulic headboxes.

Keywords: dispersion promoter, fiber-concentration distribution, hydraulic headbox, pulp liquid flow

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Authors: Alemayehu Mengesha, Solomon Belay

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We determine the general dispersion relation for the propagation of magnetohydrodynamic (MHD) waves in an astrophysical plasma by considering the effect of viscosity with an anisotropic pressure tensor. Basic MHD equations have been derived and linearized by the method of perturbation to develop the general form of the dispersion relation equation. Our result indicates that an astrophysical plasma with an anisotropic pressure tensor is stable in the presence of viscosity and a strong magnetic field at considerable wavelength. Currently, we are doing the numerical analysis of this work.

Keywords: astrophysical, magnetic field, instability, MHD, wavelength, viscosity

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Authors: Tanapond S.

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Typically, most of the controlling firms are relate to family firms which are widespread and important for economic growth particularly in Asian Pacific region. The unique characteristics of the controlling families tend to play an important role in determining the corporate policies such as dividend policy. Given the complexity of the family business phenomenon, the empirical evidence has been unclear on how the families behind business groups influence dividend policy in Asian markets with the prevalent existence of cross-shareholdings and pyramidal structure. Dividend policy as one of an important determinant of firm value could also be implemented in order to examine the effect of the controlling families behind business groups on strategic decisions-making in terms of a governance perspective and agency problems. The purpose of this paper is to investigate the impact of ownership structure and concentration which are influential internal corporate governance mechanisms in family firms on dividend decision-making. Using panel data and constructing a unique dataset of family ownership and control through hand-collecting information from the nonfinancial companies listed in Stock Exchange of Thailand (SET) between 2000 and 2015, the study finds that family firms with large stakes distribute higher dividends than family firms with small stakes. Family ownership can mitigate the agency problems and the expropriation of minority investors in family firms. To provide insight into the distinguish between ownership rights and control rights, this study examines specific firm characteristics including the degrees of concentration of controlling shareholders by classifying family ownership in different categories. The results show that controlling families with large deviation between voting rights and cash flow rights have more power and affect lower dividend payment. These situations become worse when second blockholders are families. To the best knowledge of the researcher, this study is the first to examine the association between family firms’ characteristics and dividend policy from the corporate governance perspectives in Thailand with weak investor protection environment and high ownership concentration. This research also underscores the importance of family control especially in a context in which family business groups and pyramidal structure are prevalent. As a result, academics and policy makers can develop markets and corporate policies to eliminate agency problem.

Keywords: agency theory, dividend policy, family control, Thailand

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Authors: Zahir Bakiri, Saci Nacefa

Abstract:

In this paper a comparison in made between two models, with and without dispersion term, and focused on the characterization of the movement of the sludge blanket in the secondary sedimentation tank using the solid flux theory and the velocity settling. This allowed us develop a one-dimensional models, with and without dispersion based on a thorough experimental study carried out in situ and the application of online data which are the mass load flow, transfer concentration, and influent characteristic. On the other hand, in the proposed model, the new settling velocity law (double-exponential function) used is based on the Vesilind function.

Keywords: wastewater, activated sludge, sedimentation, settling velocity, settling models

Procedia PDF Downloads 365

Authors: Bonginkosi A. Thango, Jacobus A. Jordaan, Agha F. Nnachi

Abstract:

In this day and age, there is a proliferate concern from all governments across the globe to barricade the environment from greenhouse gases, which absorb infrared radiation. As a result, solar photovoltaic (PV) electricity has been an expeditiously growing renewable energy source and will eventually undertake a prominent role in the global energy generation. The selection and purchasing of energy-efficient transformers that meet the operational requirements of the solar photovoltaic energy generation plants then become a part of the Independent Power Producers (IPP’s) investment plan of action. Taking these into account, this paper proposes a procedure that put into effect the intricate financial analysis necessitated to precisely evaluate the transformer service lifetime no-load and load loss factors. This procedure correctly set forth the transformer service lifetime loss factors as a result of a solar PV plant’s sporadic generation profile and related levelized costs of electricity into the computation of the transformer’s total ownership cost. The results are then critically compared with the conventional transformer total ownership cost unaccompanied by the emission costs, and demonstrate the significance of the sporadic energy generation nature of the solar PV plant on the total ownership cost. The findings indicate that the latter play a crucial role for developers and Independent Power Producers (IPP’s) in making the purchase decision during a tender bid where competing offers from different transformer manufactures are evaluated. Additionally, the susceptibility analysis of different factors engrossed in the transformer service lifetime cost is carried out; factors including the levelized cost of electricity, solar PV plant’s generation modes, and the loading profile are examined.

Keywords: solar photovoltaic plant, transformer, total ownership cost, loss factors

Procedia PDF Downloads 108