Search results for: pulp and paper waste

Authors: Wirot Likittrakulwong, Pisit Poolprasert, Tossaporn Incharoen

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Germinated paddy rice (GPR) has the potential to be used as a feed ingredient. However, their properties have not been fully investigated. This paper examined the nutrient digestibility and the relationship to immune activity in Roman hens fed with GPR. It was found that true and apparent metabolizable energy (ME) values of GPR were 3.20 and 3.28 kcal/g air dry, respectively. GPR exhibited high content of phytonutrients, especially GABA. GPR showed similar protein profiles in comparison to non-germinated paddy rice. For immune activity, the feed with GPR enhanced the immune activity of Roman hens under high stocking density stress as evidenced by the activity of superoxide dismutase (SOD) and lysozyme activity. In this study, GPR is proved to be a good source of functional ingredient for chicken feed.

Keywords: germinated paddy rice, nutrient digestibility, immune activity, functional property

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Authors: H. El-Kamchouchi, Heba Gaber, Fatma Ahmed, Dalia H. El-Kamchouchi

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A digital signature is an electronic signature form used by an original signer to sign a specific document. When the original signer is not in his office or when he/she travels outside, he/she delegates his signing capability to a proxy signer and then the proxy signer generates a signing message on behalf of the original signer. The two parties must be able to authenticate one another and agree on a secret encryption key, in order to communicate securely over an unreliable public network. Authenticated key agreement protocols have an important role in building a secure communications network between the two parties. In this paper, we present a secure proxy signature scheme over an efficient and secure authenticated key agreement protocol based on factoring and discrete logarithm problem.

Keywords: discrete logarithm, factoring, proxy signature, key agreement

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Authors: Majid Zargar, Frank Bullen, Ron Ayers

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One of the important factors in the design of asphalt concrete mixes is the accurate measurement of air voids and their variable distribution. Both can have significant impact on long and short term fatigue and creep behaviour under traffic. While some simple methods exist for overall evaluation of air voids, measuring air void distribution in asphalt concrete is very complex, involving expensive techniques such as X-ray methodologies. The research reported in the paper investigated the use of non-destructive ultrasonic techniques as an alternative to estimate the amount of air voids and their distribution within asphalt samples. Seventy-four Standard AC–14 asphalt samples made with three types of bitumen; Multigrade, PMB and C320 were analysed using ultrasonic techniques. The results have illustrated that ultrasonic testing has the potential of being a rapid, accurate and cost-effective method of estimating air void distribution in asphalt.

Keywords: asphalt concrete, air voids, ultrasonic, mechanical behaviour

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Authors: M. Jahanandish, Gh. Sadeghian, M. H. Daneshvar, M. H. Jahanandish

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The amount of resistance of a particular medium like soil to the moving objects is the interest of many areas in science. These include soil mechanics, geotechnical engineering, powder mechanics etc. Knowledge of drag force is also used for estimating the amount of momentum of fired objects like bullets. This paper focuses on measurement of drag force of sand on a cone when it moves at a low constant speed. A 30-degree apex angle cone has been used for this purpose. The study consisted of both loose and dense conditions of the soil. The applied speed has been in the range of 0.1 to 10 mm/min. The results indicate that the required force is basically independent of the cone speed; but, it is very dependent on the material densification and confining stress.

Keywords: drag force, sand, moving speed, friction angle, densification, confining stress

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Authors: Dimitris Balios, Stefanos Tantos

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Economic growth and social evolution are connected to trust relationships in a society. The quality of the accounting information, the tax information system and the tax audit mechanism evolve multiple benefits in an economy. Tax evasion, the illegal practice where people and companies do not pay taxes, is a crime because of the negative effect in economy and society. In this paper, we describe a theoretical framework on the characteristics of a fair and efficient tax auditing information system which could be a tool against tax evasion, a tool for an economy to grow, especially in countries that face fluctuations in economic activity. We conclude that a fair and efficient tax auditing information system increases the reliability of tax administration, improves taxpayers’ tax compliance and causes a developmental trajectory for the economy.

Keywords: auditing information system, auditing mechanism, tax evasion, taxation

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Authors: Minh-Thuan Nguyen, Phuong-Thai Nguyen, Van-Vinh Nguyen, Quang-Minh Nguyen

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Research on automatically generating descriptions for e-commerce products is gaining increasing attention in recent years. However, the generated descriptions of their systems are often less informative and attractive because of lacking training datasets or the limitation of these approaches, which often use templates or statistical methods. In this paper, we explore a method to generate production descriptions by using the GPT-2 model. In addition, we apply text paraphrasing and task-adaptive pretraining techniques to improve the qualify of descriptions generated from the GPT-2 model. Experiment results show that our models outperform the baseline model through automatic evaluation and human evaluation. Especially, our methods achieve a promising result not only on the seen test set but also in the unseen test set.

Keywords: GPT-2, product description, transformer, task-adaptive, language model, pretraining

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Authors: Retno Supriyanti, Ays Rahmadian Subhi, Yogi Ramadhani, Haris B. Widodo

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Alzheimer is one type of disease in the elderly that may occur in the world. The severity of the Alzheimer can be measured using a scale called Clinical Dementia Rating (CDR) based on a doctor's diagnosis of the patient's condition. Currently, diagnosis of Alzheimer often uses MRI machine, to know the condition of part of the brain called Hippocampus and Ventricle. MRI image itself consists of 3 slices, namely Coronal, Sagittal and Axial. In this paper, we discussed the measurement of the area of the ventricle especially in the Coronal slice based on the severity level referring to the CDR value. We use Active Contour method to segment the ventricle’s region, therefore that ventricle’s area can be calculated automatically. The results show that this method can be used for further development in the automatic diagnosis of Alzheimer.

Keywords: Alzheimer, CDR, coronal, ventricle, active contour

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Authors: S. K. Gupta, Richa Bansal

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In a deregulated power system structure, power producers, and customers share a common transmission network for wheeling power from the point of generation to the point of consumption. All parties in this open access environment may try to purchase the energy from the cheaper source for greater profit margins, which may lead to overloading and congestion of certain corridors of the transmission network. This may result in violation of line flow, voltage and stability limits and thereby undermine the system security. Utilities therefore need to determine adequately their Available Transfer Capability (ATC) to ensure that system reliability is maintained while serving a wide range of bilateral and multilateral transactions. This paper presents power transfer distribution factor based on AC load flow for the determination and enhancement of ATC. The study has been carried out for IEEE 24 bus Reliability Test System.

Keywords: available transfer capability, FACTS devices, power transfer distribution factors, electric

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Authors: Karim Matter, Heba Fayed, Ahmed Abd-Elaziz, Moustafa Hussein

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Due to the exponential growth of mobile devices and wireless services, a huge demand for radiofrequency has increased. The presence of several frequencies causes interference between cells, which must be minimized to get the lower Bit Error Rate (BER). For this reason, it is of great interest to use visible light communication (VLC). This paper suggests a VLC system that decreases the BER by applying a new LED distribution with a hexagonal shape using a Frequency Reuse (FR) concept to mitigate the interference between the reused frequencies inside the hexagonal shape. The BER is measured in two scenarios, Line of Sight (LoS) and Non-Line of Sight (Non-LoS), for each technique that we used. The recommended values of BER in the proposed model for Soft Frequency Reuse (SFR) in the case of Los at 4, 8, and 10 dB signal to noise ratio (SNR), are 3.6×10⁻⁶, 6.03×10⁻¹³, and 2.66×10⁻¹⁸, respectively.

Keywords: visible light communication (VLC), field of view (FoV), hexagonal array, frequency reuse

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Authors: Ahcene Habbi, Yassine Boudouaoui

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This paper deals with the problem of automatic rule generation for fuzzy systems design. The proposed approach is based on hybrid artificial bee colony (ABC) optimization and weighted least squares (LS) method and aims to find the structure and parameters of fuzzy systems simultaneously. More precisely, two ABC based fuzzy modeling strategies are presented and compared. The first strategy uses global optimization to learn fuzzy models, the second one hybridizes ABC and weighted least squares estimate method. The performances of the proposed ABC and ABC-LS fuzzy modeling strategies are evaluated on complex modeling problems and compared to other advanced modeling methods.

Keywords: automatic design, learning, fuzzy rules, hybrid, swarm optimization

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Authors: Eugene C. Lim

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This paper seeks to examine the extent to which ‘forum shopping’ is available to patent filers seeking protection of GMO (genetically modified organisms)-based inventions in Hong Kong. Under Hong Kong’s current re-registration system for standard patents, an inventor must first seek patent protection from one of three Designated Patent Offices (DPO) – those of the People’s Republic of China (PRC), the Europe Union (EU) (designating the UK), or the United Kingdom (UK). The ‘designated patent’ can then be re-registered by the successful patentee in Hong Kong. Interestingly, however, the EU and the PRC do not adopt a harmonized approach toward the patenting of GMOs, and there are discrepancies in their interpretation of the phrase ‘animal or plant variety’. In view of these divergences, the ability to effectively manage ‘conflict of law’ issues is an important priority for multinational biotechnology firms with a patent portfolio in the Greater China region. Generally speaking, both the EU and the PRC exclude ‘animal and plant varieties’ from the scope of patentable subject matter. However, in the EU, Article 4(2) of the Biotechnology Directive allows a genetically modified plant or animal to be patented if its ‘technical feasibility is not limited to a specific variety’. This principle has allowed for certain ‘transgenic’ mammals, such as the ‘Harvard Oncomouse’, to be the subject of a successful patent grant in the EU. There is no corresponding provision on ‘technical feasibility’ in the patent legislation of the PRC. Although the PRC has a sui generis system for protecting plant varieties, its patent legislation allows the patenting of non-biological methods for producing transgenic organisms, not the ‘organisms’ themselves. This might lead to a situation where an inventor can obtain patent protection in Hong Kong over transgenic life forms through the re-registration of a patent from a more ‘biotech-friendly’ DPO, even though the subject matter in question might not be patentable per se in the PRC. Through a comparative doctrinal analysis of legislative provisions, cases and court interpretations, this paper argues that differences in the protection afforded to GMOs do not generally prejudice the ability of global MNCs to obtain patent protection in Hong Kong. Corporations which are able to first obtain patents for GMO-based inventions in Europe can generally use their European patent as the basis for re-registration in Hong Kong, even if such protection might not be available in the PRC itself. However, the more restrictive approach to GMO-based patents adopted in the PRC would be more acutely felt by enterprises and inventors based in mainland China. The broader scope of protection offered to GMO-based patents in Europe might not be available in Hong Kong to mainland Chinese patentees under the current re-registration model for standard patents, unless they have the resources to apply for patent protection as well from another (European) DPO as the basis for re-registration.

Keywords: biotechnology, forum shopping, genetically modified organisms (GMOs), greater China region, patent portfolio

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Authors: Syed M. Jawwad Riaz

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There has been a lot of interest in exploring the thermodynamic properties at the horizon of a black hole geometry. Earlier, it has been shown, for different spacetimes, that the Einstein field equations at the horizon can be expressed as a first law of black hole thermodynamics. In this paper, considering r = constant slices, for the Kerr-Newman black hole, shown that the Einstein field equations for the induced 3-metric of the hypersurface is expressed in thermodynamic quantities under the virtual displacements of the hypersurfaces. As expected, it is found that the field equations of the induced metric corresponding to the horizon can only be written as a first law of black hole thermodynamics. It is to be mentioned here that the procedure adopted is much easier, to obtain such results, as here one has to essentially deal with (n - 1)-dimensional induced metric for an n-dimensional spacetime.

Keywords: black hole space-times, Einstein's field equation, foliation, hyper-surfaces

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Authors: Thuvanan Borvornvitchotikarn, Werasak Kurutach

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Mutual information (MI) is widely used in medical image registration. In the different medical images analysis, it is difficult to choose an optimal bins size number for calculating the probability distributions in MI. As the result, this paper presents a new adaptive bins number selection approach that named a hybrid EMPCA-Scott approach. This work combines an expectation maximization principal component analysis (EMPCA) and the modified Scott’s rule. The proposed approach solves the binning problem from the various intensity values in medical images. Experimental results of this work show the lower registration errors compared to other adaptive binning approaches.

Keywords: mutual information, EMPCA, Scott, probability distributions

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Authors: Yigal Rosen, Garrett Jaeger, Michelle Newstadt, Ilia Rushkin, Sara Bakken

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All children are capable of advancing their creative thinking skills and engaging in creative play. Creative play puts children in charge of exploring ideas, relationships, spaces and problems. Supported by The LEGO Foundation, the creative thinking formative assessment is designed to provide valid, reliable and informative measurement to support the development of creative skills while children are engaged in Learning through Play. In this paper we provide an overview of the assessment framework underpinned the assessment of creative thinking and report the results from the 2022 pilot study demonstrating promising evidence on the ability to measure creative skills in a conceptually and ecologically valid way to inform the development of creative skills.

Keywords: creativity, creative thinking, assessment, learning through play, creative play, learning progressions

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Authors: Djamal Hamadi, Oussama Temami, Abdallah Zatar, Sifeddine Abderrahmani

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The analysis and design of thin shell structures is a topic of interest in a variety of engineering applications. In structural mechanics problems the analyst seeks to determine the distribution of stresses throughout the structure to be designed. It is also necessary to calculate the displacements of certain points of the structure to ensure that specified allowable values are not exceeded. In this paper a comparative study between displacement and strain based finite elements applied to the analysis of some thin shell structures is presented. The results obtained from some examples show the efficiency and the performance of the strain based approach compared to the well known displacement formulation.

Keywords: displacement formulation, finite elements, strain based approach, shell structures

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Authors: Sana El-Azzeh, Farraj Al-Ajmi, Abdulrahman Al-Aqqad, Mohamed Salem

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Thermal comfort is defined according to ANSI/ASHRAE Standard 55 as a condition of mind that expresses satisfaction with the thermal environment and is assessed by subjective evaluation. Sustaining this standard of thermal comfort for occupants of buildings or other enclosures is one of the important goals of HVAC design engineers. This paper presents a study of thermal comfort and adaptive behaviors of occupants who occupies two locations at the campus of the Australian College of Kuwait. A longitudinal survey and field measurement were conducted to measure thermal comfort, adaptive behaviors, and indoor environment qualities. The study revealed that female occupants in the selected locations felt warmer than males and needed more air velocity and lower temperature.

Keywords: indoor thermal comfort, educational facility, gender analysis, dry desert climate

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Authors: Ganga Brahma

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Boro employs verbs hooked up with morphemes which lead verbs to adjust with their arguments and hence, affecting the whole of sentence structures. This paper is based on few such syntactic parameters which are usually considered as argument decreasing parameters in linguistic works. Passivizing of few transitive clauses which are usually construed from the verbs occurring with certain morphemes and representation in middle constructions are few of such strategies which lead to conceptualizing of decreasing of syntactic arguments from a sentence. This paper focuses on the mentioned linguistic strategies and attempts to describe the linguistic processes as for how these parameters work in languages especially by concentrating on a particular Tibeto-Burman language i.e. Boro. Boro is a Tibeto-Burman language widely spoken in parts of the north-eastern regions of India. It has an agglutinative nature in forming words as well as clauses. There is a morpheme ‘za’ which means ‘to happen, become’ in Boro whose appearances with verb roots denotes an idea of the subject being passivized. Passivization, usually has notions that it is a reversed representation of its active sentence forms in the terms of argument placements. (However, it is not accountably true as passives and actives have some distinct features of their own and independent of one and the other.) This particular work will concentrate on the semantics of passivization at the same time along with its syntactic reality. The verb khɑo meaning ‘to steal’ offers a sense of passivization with the appearance of the morpheme zɑ which means ‘to happen, become’ (e.g Zunu-ɑ lama-ɑo phɯisɑ khɑo-zɑ-bɑi; Junu-NOM road-LOC money steal-PASS-PRES: Junu got her money stolen on the road). The focus, here, is more on the argument placed at the subject position (i.e. Zunu) and the event taken place. The semantics of such construction asks for the agent because without an agent the event could not have taken place. However, the syntactic elements fill the slots of relegated or temporarily deleted agent which, infact, is the actual subject cum agent in its active representation. Due to the event marker ‘zɑ’ in this presentation it affords to reduce one participant from such a situation which in actual is made up of three participants. Hence, the structure of di-transitive construction here reduces to mono-transitive structure. Unlike passivization, middle construction does not allow relegation of the agents. It permanently deletes agents. However, it also focuses on the fore-grounded subject and highlighting on the changed states on the subjects which happens to be the underlying objects of their respective transitive structures (with agents). This work intends to describe how these two parameters which are different at their semantic realization can meet together at a syntactic level in order to create a linguistic parameter that decreases participants from their actual structures which are with more than one participant.

Keywords: argument-decrease, middle-construction, passivization, transitivity-intransitivity

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Authors: Afaneen Anwer, Samara M. Kamil

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Load Forecast required prediction accuracy based on optimal operation and maintenance. A good accuracy is the basis of economic dispatch, unit commitment, and system reliability. A good load forecasting system fulfilled fast speed, automatic bad data detection, and ability to access the system automatically to get the needed data. In this paper, the formulation of the load forecasting is discussed and the solution is obtained by using artificial neural network method. A MATLAB environment has been used to solve the load forecasting schedule of Iraqi super grid network considering the daily load for three years. The obtained results showed a good accuracy in predicting the forecasted load.

Keywords: load forecasting, neural network, back-propagation algorithm, Iraqi power system

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Authors: J. Fernandez, N. Aguilar, R. Fernandez de Canete, J. C. Ramos-Diaz

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In this paper, a simulation model of the glucose-insulin system for a patient undergoing diabetes Type 1 is developed by using a causal modeling approach under system dynamics. The OpenModelica simulation environment has been employed to build the so called causal model, while the glucose-insulin model parameters were adjusted to fit recorded mean data of a diabetic patient database. Model results under different conditions of a three-meal glucose and exogenous insulin ingestion patterns have been obtained. This simulation model can be useful to evaluate glucose-insulin performance in several circumstances, including insulin infusion algorithms in open-loop and decision support systems in closed-loop.

Keywords: causal modeling, diabetes, glucose-insulin system, diabetes, causal modeling, OpenModelica software

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Authors: Mohd Adib Abd Muin

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Social entrepreneurship has become a new phenomenon in a country in order to reduce social problems and eradicate poverty communities. However, the study based on Islamic social entrepreneurship from the social entrepreneurial activity is still new especially in the Islamic perspective. In addition, this research found that is lacking of model on social entrepreneurship that focus on Islamic perspective. Therefore, the objective of this paper is to identify the issues and research gap based on Islamic perspective from existing models and to develop a concept of Islamic social entrepreneurship according to Islamic perspective and Maqasid Shari’ah. The research method used in this study is literature review and comparative analysis from 11 existing models of social entrepreneurship. The research finding shows that 11 existing models on social entrepreneurship has been analyzed and it shows that the existing models on social entrepreneurship do not emphasize on Islamic perspective.

Keywords: component, social entrepreneurship, Islamic perspective, research gap

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Authors: Kathia Melbouci, Sylvie Naudet Collette, Vincent Gay-Bellile, Omar Ait-Aider, Michel Dhome

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In this paper, we handle the problem of real time localization and mapping in indoor environment assisted by a partial prior 3D model, using an RGBD sensor. The proposed solution relies on a feature-based RGBD SLAM algorithm to localize the camera and update the 3D map of the scene. To improve the accuracy and the robustness of the localization, we propose to combine in a local bundle adjustment process, geometric information provided by a prior coarse 3D model of the scene (e.g. generated from the 2D floor plan of the building) along with RGBD data from a Kinect camera. The proposed approach is evaluated on a public benchmark dataset as well as on real scene acquired by a Kinect sensor.

Keywords: SLAM, global localization, 3D sensor, bundle adjustment, 3D model

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Authors: Madhu Jain, Rakesh Kumar Meena

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This paper investigates a finite M/G/1 fault tolerant multi-component machining system. The system incorporates the features such as standby support, threshold recovery and imperfect coverage make the study closer to real time systems. The performance prediction of M/G/1 fault tolerant system is carried out using recursive approach by treating remaining service time as a supplementary variable. The numerical results are presented to illustrate the computational tractability of analytical results by taking three different service time distributions viz. exponential, 3-stage Erlang and deterministic. Moreover, the cost function is constructed to determine the optimal choice of system descriptors to upgrading the system.

Keywords: fault tolerant, machine repair, threshold recovery policy, imperfect coverage, supplementary variable technique

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Authors: Shunsuke Fujiwara, Takashi Kaburagi, Kazuyuki Kobayashi, Kajiro Watanabe, Yosuke Kurihara

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This paper describes a novel sensor device, a pressure pulse wave meter, which uses a bidirectional condenser microphone. The microphone work as a microphone as well as a sensor with high gain over a wide frequency range; they are also highly reliable and economical. Currently aging is becoming a serious social issue in Japan causing increased medical expenses in the country. Hence, it is important for elderly citizens to check health condition at home, and to care the health conditions through daily monitoring. Given this circumstances, we developed a novel pressure pulse wave meter based on a bidirectional condenser microphone. This novel pressure pulse wave meter device is used as a measuring instrument of health conditions.

Keywords: bidirectional microphone, pressure pulse wave meter, health condition, novel sensor device

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Authors: Tareq Oshan

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Facility location and size decisions are important to any company because they affect profitability and success. However, warehouses are exposed to various risks of failure that affect their activity. This paper presents a mixed-integer non-linear mathematical model that can be used to determine optimal warehouse locations and sizes, which warehouses to fortify, and which branches should be assigned to specific warehouses when there is a risk of warehouse failure. Every branch is assigned to a fortified primary warehouse or a nonfortified primary warehouse and a fortified backup warehouse. The standard method and an introduced method, based on the average probabilities, for linearizing this mathematical model were used. A Canadian case study was used to demonstrate the developed mathematical model, followed by some sensitivity analysis.

Keywords: supply chain network design, fortified warehouse, mixed-integer mathematical model, warehouse failure risk

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Authors: Anthony Vandarakis

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Today’s International Service Learning practices require an update: modern technologies, fresh educational frameworks, and a new operating system to accountably prosper. This paper describes a model of International Service Learning (ISL), which combines current technological hardware, electronic platforms, and asynchronous communications that are grounded in inclusive pedagogy. This model builds on the work around collaborative field trip learning, extending the reach to international partnerships across continents. Mobile technology, 21^st century skills and summit-basecamp modeling intersect to support novel forms of learning that tread lightly on fragile natural ecosystems, affirm local reciprocal partnership in projects, and protect traveling participants from common yet avoidable cultural pitfalls.

Keywords: International Service Learning, ISL, field experiences, mobile technology, out there in here, summit basecamp pedagogy

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Authors: Amine Beloufa, Mohamed Amirat

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In the electric vehicle, high power leads to high current; automotive power connector should resist to this high current in order to avoid a serious damage caused by the increase of contact temperature. The purpose of this paper is to analyze experimentally and numerically the effect of the cable diameter variation on the decrease of contact temperature. For this reason, a finite element model was developed to calculate the numerical contact temperature for several cable diameters and several electrical high currents. Also, experimental tests were established in order to validate this numerical model. Results show that the influence of cable diameter on the contact temperature is never neglected.

Keywords: contact temperature, experimental test, finite element, power automotive connector

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Authors: Konstantinos Sofianos, Michail Stefanidakis

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Nowadays, despite the great advances in technology, most educational frameworks lack a strong educational design basis. E-learning has become prevalent, but it faces various challenges such as student isolation and lack of quality in the learning process. An intelligent learning system provides a student with educational material according to their learning background and learning preferences. It records full information about the student, such as demographic information, learning styles, and academic performance. This information allows the system to be fully adapted to the student’s needs. In this paper, we propose a framework and an ontology for music education, consisting of the learner model and all elements of the learning process (learning objects, teaching methods, learning activities, assessment). This framework can be integrated into an intelligent learning system and used for music education in schools for the development of professional skills and beyond.

Keywords: intelligent learning systems, e-learning, music education, ontology, semantic web

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Authors: Vladimíra Hornáčková

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This paper points out at the importance of creativity development in children of preschool age and analyses certain conditions and pedagogical principles which should be respected during the development of creativity in kindergartens. Research survey focuses on the development of creativity reflection at children in kindergartens at preschool age and based on a test of creativity it compares creativity of children in experimental and control groups. The goal is to find out if there are any differences among children in experimental and control classrooms in kindergartens; wherein experimental groups, there is preschool education with the use of drama education while in control groups there is not. On the basis of certain aspects, the gained data is compared through descriptive methods and correlations. Research results refer to reserves in creativity development in modern pre-primary education in the context of implemented and expected changes in didactic approach in the education of kindergartens.

Keywords: preschool child, drama in education, research, test of creativity

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Authors: Grienggrai Rajchakit

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This paper is concerned with the exponential stability of switched linear systems with interval time-varying delays. The time delay is any continuous function belonging to a given interval, in which the lower bound of delay is not restricted to zero. By constructing a suitable augmented Lyapunov-Krasovskii functional combined with Leibniz-Newton's formula, a switching rule for the exponential stability of switched linear systems with interval time-varying delays and new delay-dependent sufficient conditions for the exponential stability of the systems are first established in terms of LMIs. Finally, some examples are exploited to illustrate the effectiveness of the proposed schemes.

Keywords: exponential stability, hybrid systems, time-varying delays, lyapunov-krasovskii functional, leibniz-newton's formula

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Authors: Prateek Bhattacharya

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The definition of 'control' in India is a rapidly evolving concept, owing to varying rights attached to varying securities. Shares with differential voting rights (DVRs) provide the holder with differential rights as to voting, as compared to ordinary equity shareholders of the company. Such DVRs can amount to both superior voting rights and inferior voting rights, where DVRs with superior voting rights amount to providing the holder with golden shares in the company. While DVRs are not a novel concept in India having been recognized since 2000, they were placed on a back burner by the Securities and Exchange Board of India (SEBI) in 2010 after issuance of DVRs with superior voting rights was restricted. In June 2019, the SEBI rekindled the ebbing fire of DVRs, keeping mind the fast-paced nature of the global economy, the government's faith that India’s ‘new age technology companies’ (i.e., Start-Ups) will lead the charge in achieving its goal of India becoming a $5 trillion dollar economy by 2024, and recognizing that the promoters of such Start-Ups seek to raise capital without losing control over their companies. DVRs with superior voting rights guarantee promoters with up to 74% shareholding in Start-Ups for a period of 5 years, meaning that the holder of such DVRs can exercise sole control and material influence over the company for that period. This manner of control has the potential of causing both pro-competitive and anti-competitive effects in the markets where these companies operate. On the one hand, DVRs will allow Start-Up promoters/founders to retain control of their companies and protect its business interests from foreign elements such as private/public investors – in a scenario where such investors have multiple investments in firms engaged in associated lines of business (whether on a horizontal or vertical level) and would seek to influence these firms to enter into potential anti-competitive arrangements with one another, DVRs will enable the promoters to thwart such scenarios. On the other hand, promoters/founders who themselves have multiple investments in Start-Ups, which are in associated lines of business run the risk of influencing these associated Start-Ups to engage in potentially anti-competitive arrangements in the name of profit maximisation. This paper shall be divided into three parts: Part I shall deal with the concept of ‘control’, as deliberated upon and decided by the SEBI and the Competition Commission of India (CCI) under both company/securities law and competition law; Part II shall review this definition of ‘control’ through the lens of DVRs, and Part III shall discuss the aforementioned potential pro-competitive and anti-competitive effects caused by the DVRs by examining the current Indian Start-Up scenario. The paper shall conclude by providing suggestions for the CCI to incorporate a clearer and more progressive concept of ‘control’.

Keywords: competition law, competitive effects, control, differential voting rights, DVRs, investor shareholding, merger control, start-ups

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