Search results for: agricultural and financial loss

Authors: Mohanad Moustafa, Julia Sieberer, Rhys Davies

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Background: Orbital compartment syndrome (OCS) is a sight-threatening Ophthalmologic emergency caused by rapidly increasing intraorbital pressure. It is usually caused by a retrobulbar hemorrhage as a result of trauma. If not treated in a timely manner, permanent vision loss can occur. Lateral canthotomy and cantholysis are minor procedures that can be performed bedside with equipment available in the emergency department. The aim of the procedure is to release the attachments between the suspensory ligaments of the eye and the bony orbital wall, leading to a decrease in intraorbital pressure and preventing irreversible loss of vision. As most Ophthalmologists across the UK provide non-resident on-call service, this may lead to a delay in the treatment of OCS and stresses the need for Emergency medical staff to be able to provide this sight-saving procedure independently. Aim: To survey current training, experience, and confidence levels among Emergency Medicine doctors in performing emergency lateral canthotomy and to establish whether these variables change the following teaching from experienced ophthalmologists. RESULTS: Most EM registrars had little to no experience in performing lateral canthotomy and cantholysis. The majority of them showed a significant increase in their confidence to perform the procedure following ophthalmic-led teaching. The survey also showed that the registrars felt such training should be added to/part of the EM curriculum. Conclusion: The involvement of Ophthalmologists in the teaching of EM doctors to recognise and treat OCS independently may prevent delays in treatment and reduce the risk of permanent sight loss. This project showed potential in improving patient care and will lead to a National Survey of EM doctors across the UK.

Keywords: lateral canthotomy, retrobulbar hemorrhage, Ophthalmology, orbital compartment syndrome, sight loss, blindness

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Authors: Tanira Kingi, Oscar Montes Oca, Reina Tamepo

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The introduction of the Climate Change Response (Zero Carbon) Amendment Act (2019) and the National Policy Statement for Freshwater Management (2020) both contain underpinning statements that refer to the principles of the Treaty of Waitangi and cultural concepts of stewardship and environmental protection. Maori interests in New Zealand’s agricultural, forestry, fishing and horticultural sectors are significant. The organizations that manage these investments do so on behalf of extended family groups that hold inherited interests based on genealogical connections (whakapapa) to particular tribal units (iwi and hapu) and areas of land (whenua) and freshwater bodies (wai). This paper draws on the findings of current research programmes funded by the New Zealand Agricultural Greenhouse Gas Research Centre (NZAGRC) and the Our Land & Water National Science Challenge (OLW NSC) to understand the impact of cultural knowledge and imperatives on agricultural GHG and freshwater mitigation and land-use change decisions. In particular, the research outlines mitigation and land-use change scenario decision support frameworks that model changes in emissions profiles (reductions in biogenic methane, nitrous oxide and nutrient emissions to freshwater) of agricultural and forestry production systems along with impacts on key economic indicators and socio-cultural factors. The paper also assesses the effectiveness of newly introduced partnership arrangements between Maori groups/organizations and key government agencies on policy co-design and implementation, and in particular, decisions to adopt mitigation practices and to diversify land use.

Keywords: co-design and implementation of environmental policy, indigenous environmental knowledge, Māori land tenure and agribusiness, mitigation and land use change decision support frameworks

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Authors: M. Shah Alamgir, Jun Furuya, Shintaro Kobayashi, M. Abdus Salam

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Farmers’ environmental and economic situations are very diverse. In order to develop effective policies and technologies to improve farmers’ life standard, it is important to understand which factors induce the diversity of agricultural income. Analyze both primary and secondary data, this study applied descriptive, inferential statistical tools, and econometric techniques. From the study, farmers of Sylhet Division produce potato as one of the main cash crop with other seasonal crops. The total costs of potato production per hectare varied in different districts of Sylhet division in addition seed and hired labor cost has the biggest share of the full cost. To grasp the diversity of income, the study decomposes the variance of net income into different factors of potato production. Through this decomposition, seed cost is the important factors of income variability and it is the most important sector to induce total cost disparity for potato production. The result shows that 73% of net income variation is explained by gross income. It implies that potato yield or potato price (quality) or both vary widely among farmers. This finding is important of policymaking and technology development of agricultural farming in Bangladesh.

Keywords: agricultural income, seed, hired labor, technology development

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Authors: Monthana Weerawatanakorn, Hajime Tamaki, Yonathan Asikin, Koji Wada, Makoto Takahashi, Chi-Tang Ho, Min-Hsiung Pan

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Rice bran and sugarcane are significant sources of wax containing policosanol (PC), the cholesterol-lowering nutraceutical available in the market. The processing of rice bran oil causes the loss of PC content into various waste products. Therefore, we hypothesise that defatted rice bran (DRB) as agricultural waste product and rice bran oil (RBO) retain a varying but significant amount of PC wax. Non-centrifugal cane sugar (NCS) or cane brown sugar has been consumed worldwide and possesses various health benefits. Since PC wax is mainly in the outer layer rinds of cane, PC contents of the granulated sugar are reduced due to the peeling step. The study aimed to increase PC contents of the granular brown sugar by adding wax extracted from DRB and RBO and to investigate the toxicity of the developed products. The results showed that the total PC contents including long chain aldehyde of products were increased to the maximum level of 147.97 mg/100 g and 40.14 mg/100 g for extracted wax and rice bran oil addition, respectively. PC content of RBO was found to be 96.93 mg/100 g. DRB is promising source of policosanol (6,044.7 mg/100 g). The 28-day toxicity evaluations of the developed sugar revealed no adverse effects on the liver, spleen or kidney.

Keywords: enrichment, sugarcane, policosanol, defatted rice bran, wax

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Authors: Manmeet Kaur, Madhu Vij

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The Board of Directors in a firm performs the primary role of an internal control mechanism. This Study seeks to understand the relationship between internal governance and performance of banks in India. The research paper investigates the effect of board structure (proportion of nonexecutive directors, gender diversity, board size and meetings per year) on the firm performance. This paper evaluates the impact of corporate governance mechanisms on bank’s financial performance using panel data for 28 listed banks in National Stock Exchange of India for the period of 2008-2014. Returns on Asset, Return on Equity, Tobin’s Q and Net Interest Margin were used as the financial performance indicators. To estimate the relationship among governance and bank performance initially the Study uses Pooled Ordinary Least Square (OLS) Estimation and Generalized Least Square (GLS) Estimation. Then a well-developed panel Generalized Method of Moments (GMM) Estimator is developed to investigate the dynamic nature of performance and governance relationship. The Study empirically confirms that two-step system GMM approach controls the problem of unobserved heterogeneity and endogeneity as compared to the OLS and GLS approach. The result suggests that banks with small board, boards with female members, and boards that meet more frequently tend to be more efficient and subsequently have a positive impact on performance of banks. The study offers insights to policy makers interested in enhancing the quality of governance of banks in India. Also, the findings suggest that board structure plays a vital role in the improvement of corporate governance mechanism for financial institutions. There is a need to have efficient boards in banks to improve the overall health of the financial institutions and the economic development of the country.

Keywords: board of directors, corporate governance, GMM estimation, Indian banking

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Authors: I. M. B. Omiogbemi, D. S. Yawas, I. M. Dagwa, F. G. Okibe

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This work present the effects of some gas metal arc welding parameters on the corrosion behavior of austenitic stainless steel, exposed to 0.5M sodium hydroxide at ambient temperatures (298K) using conventional weight loss determination, together with surface morphology evaluation by scanning electron microscopy and the application of factorial design of experiment to determine welding conditions which enhance the integrity of the welded stainless steel. The welding variables evaluated include speed, voltage and current. Different samples of the welded stainless steels were immersed in the corrosion environment for 8, 16, 24, 32 and 40 days and weight loss determined. From the results, it was found that increase in welding current and speed at constant voltage gave the optimum performance of the austenitic stainless steel in the environment. At a of speed 40cm/min, 110Amp current and voltage of 230 volt the welded stainless steel showed only a 0.0015mg loss in weight after 40 days. Pit-like openings were observed on the surface of the metals indicating corrosion but were minimal at the optimum conditions. It was concluded from the research that relatively high welding speed and current at a constant voltage gives a good welded austenitic stainless steel with better integrity.

Keywords: welding, current, speed, austenitic stainless steel, sodium hydroxide

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Authors: Jun Ming Moey, Zhiyaun Chen, David Nicholson

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Bad actors are often hard to detect in data that imprints their behaviour patterns because they are comparatively rare events embedded in non-bad actor data. An unsupervised machine learning framework is applied here to detect bad actors in financial crime datasets that record millions of transactions undertaken by hundreds of actors (<0.01% bad). Specifically, the framework combines ‘shallow’ (PCA, Isolation Forest) and ‘deep’ (Autoencoder) methods to detect outlier patterns. Detection performance analysis for both the individual methods and their combination is reported.

Keywords: detection, machine learning, deep learning, unsupervised, outlier analysis, data science, fraud, financial crime

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Authors: Suleiman Ahmed Badayi

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Corporate governance literature is very wide and involves several empirical studies conducted on the relationship between board structure, composition and firm performance. The separation of ownership and control in organizations were aimed at reducing the losses suffered by the investors in the event of financial scandals. This paper reviewed the theoretical and empirical literature on the relationship between board composition and its impact on firm performance. The findings from the studies provide different results while some are of the view that board structure is related to firm performance, many empirical studies indicates no relationship. However, others found a U-shape relationship between firm performance and board structure. Therefore, this study argued that board structure is not much significant to determine the financial performance of a firm.

Keywords: board structure, composition, firm performance, corporate governance

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Authors: Leonie Jooste

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The main purpose of this article is to explore the ethical values of accounting students at Universities and Business Managers. Financial fraud (earnings management) is continuing to exist and published in literature and social media. However, irrespective of extensive publication, and academic research, financial fraud is still happening or still being committed. The student of today may be the manager in the future. In a study by Bruns and Merchant, the authors found that the morality of short-term earnings management was of little concern to researchers and accounting practitioners. However, in the light of increased financial frauds and failures, new and increased emphasis has been placed on the importance of the concepts of earnings quality, earnings management practices, and the inclusion of business ethics in accounting syllabi. This study uses a quantitative analysis related to the Bruns and Merchant survey of accounting students. 59 accounting students in the MENA area were surveyed in 2022 to measure their ethical values regarding earning management practices in organisations. The results of this survey were compared the surveys in 2013 to determine if courses in business ethics offered at the university influenced the perceptions of students on unethical behaviour in business practices. For the data analysis, the mean values and significant differences were calculated and compared. Overall, the results showed that there was hardly any significant difference between the two surveys.

Keywords: ethics, earnings management, corporate social responsibility, business courses.

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Authors: Reza Fazaeli, Reza Eslami-Farsani, Hamid Targhagh

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Low density polyethylene (LDPE) nanocomposites with 3, 5 and 7 wt. % cobalt ferrite (CoFe2O4) nanopowder fabricated with extrusion mixing and followed up by hot press to reach compact samples. The transmission/reflection measurements were carried out with a network analyzer in the frequency range of 8-12 GHz. By increasing the percent of CoFe2O4 nanopowder, reflection loss (S11) increases, while transferring loss (S21) decreases. Reflectivity (R) calculations made using S11 and S21. Increase in percent of CoFe2O4 nanopowder up to 7 wt. % in composite leaded to higher reflectivity amount, and revealed that increasing the percent of CoFe2O4 nanopowder up to 7 wt. % leads to further microwave absorption in 8-12 GHz range.

Keywords: nanocomposite, cobalt ferrite, low density polyethylene, microwave absorption

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Authors: Chien-Chih Lin

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This study argues that the optimal diversifications for the maximization of bank value are asymmetrical; they depend on the business cycle. During times of expansion, systematic risks are relatively low, and hence there is only a slight effect from raising them with a diversified portfolio. Consequently, the benefit of reducing individual risks dominates any loss from raising systematic risks, leading to a higher value for a bank by holding a diversified portfolio of assets. On the contrary, in times of recession, systematic risks are relatively high. It is more likely that the loss from raising systematic risks surpasses the benefit of reducing individual risks from portfolio diversification. Consequently, more diversification leads to lower bank values. Finally, some empirical evidence from the banks in Taiwan is provided.

Keywords: diversification, default probability, systemic risk, banking, business cycle

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Authors: Norashikin Ismail, Nadia Anridho

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Sustainable investing is a responsible investment that focuses on Environmental, Social, and Governance (ESG) elements. ESG integration is essential in the investment process as it provides a positive contribution to the corporate performance for stakeholders, specifically investors. Sustainable investing is in line with the objectives of Shariah (Maqasid of Shariah), such as social inclusion as well as environmental preservation. This study attempts to evaluate the impact of ESG elements to the corporate financial performance among Shariah compliant stocks listed in two countries, namely Malaysia and Indonesia. The motivation of this study is to provide a further understanding in corporate sustainability for two different Islamic capital markets. The existence of the FTSE4Good Asean Index has played a vital role for ESG practices and eventually encouraged specific index for ESG and Shariah Compliant stocks. Our sample consists of 60 companies over the period 2010-2020 from two Southeast countries. We employ System Generalized Method of Moments (GMM) to reduce bias and more specific parameter estimation. Shariah Compliant companies tend to have higher ESG scores and are positively correlated to corporate financial performance. ESG integration with Shariah based investing would provide higher returns and lower risks for Muslim investors. Essentially, integrating ESG and Shariah, compliant companies lead to better financial performance.

Keywords: shariah compliant, southeast asia, corporate performance, sustainable investing

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Authors: Rong Wang

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Objective: The aim is to summarize the Solute Carrier Family 26 Member 4 (SLC26A4) mutations and clinical phenotypic characteristics of patients with Pendred syndrome/nonsyndromic enlarged vestibular aqueduct (PS/NSEVA). Design: A retrospective cohort study for the Chinese population was performed to analyze the hearing test results of 406 patients with PS/NSEVA who had a SLC26A4 mutation and the relationship between inner ear imaging and audiology. Results: There was a significant difference in the mean hearing threshold in patients with biallelic mutations (M2), monoallelic mutations (M1), and nonallelic mutations (M0) and between patients with isolated vestibular aqueduct enlargement (IEVA) and patients with IEVA combined with Mondini malformation. There was no significant difference between patients with different gene mutation types or different sexes or between the width of the vestibular aqueduct (VA) and the mean hearing threshold. The degree of hearing loss was linearly correlated with age. Conclusions: We propose that the presence or absence of SLC26A4 mutation, whether combined with Mondini malformation and patient age, are essential factors affecting the degree of hearing loss in the Chinese population. However, the number and type of mutations, degree of VA expansion, and sex of the patients did not affect the clinical audiological phenotype.

Keywords: hearing loss, Pendred syndrome/nonsyndromic vestibular enlargement of aqueduct, radiologic, SLC26A4

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Authors: Mumtaz Ahmed Sohag, Ishaq Ahmed Sohag

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Kebbi State, located in the Nort-West of Nigeria, is rich in water resources as the major rivers viz. Niger and Rima irrigate a vast majority of land. Besides, there is significant amount of groundwater, which farmers use for agriculture purpose. The groundwater is also a major source of agricultural and domestic water as wells are installed in almost all parts of the region. Although Kebbi State is rich in water, however, there are some pertinent issues which are hampering its agricultural productivity. The low lands (locally called Fadama), has spread out to a vast area. It is inundated every year during the rainy season which lasts from June to September every year. The farmers grow rice during the rainy season when water is standing. They cannot do further agricultural activity for almost two months due to high standing water. This has resulted in widespread waterlogging problem. Besides, the impact of climate change is resulting in rapid variation in river/stream flows. The information about water bodies regarding the availability of water for agricultural and other uses and the behavior of rivers at different flows is seldom available. Furthermore, sediment load (suspended and bedload) is not measured due to which land erosion cannot be countered effectively. This study, carried out in seven different irrigation regions of Kebbi state, found that diversion structures need to be constructed at some strategic locations for the supply of surface water to the farmers. The water table needs to be lowered through an effective drainage system. The monitoring of water bodies is crucial for sound data to help efficient regulation and management of water. Construction of embankments is necessary to control frequent floods in the rivers of Niger and Rima. Furthermore, farmers need capacity and awareness for participatory irrigation management.

Keywords: water bodies, floods, agriculture, waterlogging

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Authors: Juan Pedro Aznar Alarcon, Josep Maria Sayeras Maspera

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Airbnb and other similar platforms are offering a near substitute to the traditional accommodation service supplied by the hotel sector. In this context, hotels can try to compete by offering higher quality and additional services, which imply the need for new investments or try to compete by reducing prices. The theoretical model presented in this paper analyzes the best response using a sequential game theory model. The main conclusion is that due to the financial constraints that small and medium hotels have these hotels have reduced prices whereas hotels that belong to international groups or have an easy access to financial resources have increased their investment to increase the quality of the service provided. To check the validity of the theoretical model financial data from Barcelona, London and Paris hotels have been used analyzing profitability, quality of the service provided, the investment propensity and the evolution of the gross profit. The model and the empirical data provide the base for some industrial policy in the hospitality industry. To address the extra cost that small hotels in Europe have to face compared by bigger firms would help to improve the level of quality provided and to some extent have positive externalities in terms of job creation and an increasing added value for the industry.

Keywords: Airbnb, profitability, hospitality industry, game theory

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Authors: Auwal Garba, Rabiu Maijama’a, Abdullahi Muhammad Jalam

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Variability in climate has affected the agricultural production all over the globe. This concern has motivated important changes in the field of research during the last decade. Climate variability is believed to have declining effects towards rice production in Nigeria. This study examined climate variability and its impact on rice productivity in Dass Local Government Area, Bauchi State, by employing Linear Trend Model (LTM), analysis of variance (ANOVA) and regression analysis. Annual seasonal data of the climatic variables for temperature (min. and max), rainfall, and solar radiation from 1990 to 2015 were used. Results confirmed that 74.4% of the total variation in rice yield in the study area was explained by the changes in the independent variables. That is to say, temperature (minimum and maximum), rainfall, and solar radiation explained rice yield with 74.4% in the study area. Rising mean maximum temperature would lead to reduction in rice production while moderate increase in mean minimum temperature would be advantageous towards rice production, and the persistent rise in the mean maximum temperature, in the long run, will have more negatively affect rice production in the future. It is, therefore, important to promote agro-meteorological advisory services, which will be useful in farm planning and yield sustainability. Closer collaboration among the meteorologist and agricultural scientist is needed to increase the awareness about the existing database, crop weather models among others, with a view to reaping the full benefits of research on specific problems and sustainable yield management and also there should be a special initiative by the ADPs (State Agricultural Development Programme) towards promoting best agricultural practices that are resilient to climate variability in rice production and yield sustainability.

Keywords: climate variability, impact, productivity, rice

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Authors: Fatima Ali Abbass, Hassan Ibrahim Rkein

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The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency.

Keywords: cryptocurrency, accounting, IFRS, GAAP, classification, measurement

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Authors: Faustina Masocha

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This study sought to determine if the Covid-19 pandemic played a disruptive role in the signalling effect of dividend increases for the Top 40 companies listed on the Johannesburg Stock Exchange. With the use of Event Study Methodologies, it was found that dividend increases that were announced in the 2018 and 2019 financial years resulted in Cumulative Abnormal Returns (CARs) that were significantly different from zero, as confirmed by a p-value of 0,0300. This resulted in the conclusion that, under normal circumstances, dividend increases follow the precepts outlined in signalling theories which indicate that the announcement of dividend increases sent positive signals about the expected financial performance of a company. To prove the notion that Covid-19 plays a disruptive role on the signalling hypothesis, it was found from both parametric and non-parametric tests of significance that CARs related to dividend increases that were announced during the 2020 and 2021 financial years, when the Covid-19 pandemic was at its peak, were not significantly different from zero. Therefore, although the dividend increases still resulted in some CARs, such CARs were not statistically different from zero to confirm the signalling hypothesis. A p-value of 0.9830 from parametric t-tests and a p-value of 0.8971 from the Wilcoxon signed-rank test were used as a gauge that led to the conclusion that Covid-19 plays a disruptive effect on the signalling process of dividend increases.

Keywords: cumulative abnormal returns, dividend increases, event study methodology, signalling

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Authors: Satinder Bhatia

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Limited Liability Partnerships (LLPs) was a concept introduced in India in 2009. Ever since then, there has been a fierce growth in the number of organizations registered as LLPs outpacing the number of registrations as private companies. Among other benefits extended to LLPs, the audit being mandated only for LLPs having a turnover of at least Rs 40 lakhs or capital contribution of Rs 25 lakhs, has been a major attraction. This has resulted in only about 10 per cent of LLPs coming under mandatory audit. Even for such companies, the accounting standards to be followed in the preparation of financial statements have not been specified. The Revised Indian Accounting Standards (Revised IndAS) which are aligned with IFRS to a great extent, may apply to LLPs only under limited conditions. Thus, the veracity of even the audited financial statements of LLPs can be questioned. If in future, these LLPs would like to list on a stock exchange to raise capital, there can be serious hurdles if investors do not find the financial statements to be reliable and consistent. LLPs are generally governed by country-specific rules in the area of accounts and audit. Thus, such rules vary across UK, EU and the USA. Some countries have adopted the IFRS for SMEs and since LLPs can be referred to as SMEs; they would come under the ambit of these IFRS provisions. Besides, as the scope of audit widens to cover qualitative information in addition to quantitative data, audit of LLPs has now acquired a new meaning and a new urgency as demands for at least limited purpose audits are arising from different stakeholders including lenders, suppliers, customers and joint venture partners.

Keywords: audit disclosures, audit quality, guidance for SMEs, non-audit services

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Authors: M. Doyeni, S. Suproniene, V. Tilvikiene

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Agricultural wastes contribute significantly to global climate change through greenhouse gas emissions if not adequately recycled and sustainably managed. A recurring agricultural waste is livestock wastes that have consistently served as feedstock for biogas systems. The objective of this study was to access the influence of digestate fertilization on soil microbial activity and greenhouse gas emissions in agricultural fields. Wheat (Triticum spp. L.) was fertilized with different types of animal wastes digestates (organic fertilizers) and mineral nitrogen (inorganic fertilizer) for three years. The 170 kg N ha⁻¹ presented in digestates were split fertilized at an application rate of 90 and 80 kg N ha⁻¹. The soil microorganism activity could be predicted significantly using the dehydrogenase activity and soil microbial biomass carbon. By combining the two different monitoring approaches, the different methods applied in this study were sensitive to enzymatic activities and organic carbon in the living component of the soil organic matter. The emissions of greenhouse gasses (carbon dioxide (CO₂), methane (CH₄), and nitrous oxide (N₂O) were monitored directly by a static chamber system. The soil and environmental variables were measured to determine their influence on greenhouse gas emissions. Emission peaks was observed in N₂O and CO₂ after the first application of fertilizers with the emissions flattening out over the cultivating season while CH₄ emission was negligible with no apparent patterns observed. Microbial biomass carbon and dehydrogenase activity were affected by the fertilized organic digestates. A significant difference was recorded between the control and the digestate treated soils for the microbial biomass carbon and dehydrogenase. Results also showed individual and cumulative emissions of CO₂, CH₄ and N₂O from the digestates were relatively low suggesting the digestate fertilization can be an efficient method for improving soil quality and reducing greenhouse gases from agricultural sources in temperate climate conditions.

Keywords: greenhouse gas emission, manure digestate, soil microbial activity, yield

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Authors: Mohammad Hosein Panahi, Naser Yazdani

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we present a technical trading strategy that leverages the FinBERT language model and financial news analysis with a focus on news related to a subset of Nasdaq 100 stocks. Our approach surpasses the baseline Range Break-out strategy in the Bitcoin market, yielding a remarkable 24.8% increase in the win ratio for all Friday trades and an impressive 48.9% surge in short trades specifically on Fridays. Moreover, we conduct rigorous hypothesis testing to establish the statistical significance of these improvements. Our findings underscore considerable potential of our NLP-driven approach in enhancing trading strategies and achieving greater profitability within financial markets.

Keywords: quantitative finance, technical analysis, bitcoin market, NLP, language models, FinBERT, technical trading

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Authors: E. Cesarini, M. Lorenzini, R. Cardarelli, S. Chao, E. Coccia, V. Fafone, Y. Minenkow, I. Nardecchia, I. M. Pinto, A. Rocchi, V. Sequino, C. Taranto

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Structural relaxation processes in optical coatings represent a fundamental limit to the sensitivity of gravitational waves detectors, MEMS, optical metrology and entangled state experiments. To face this problem, many research lines are now active, in particular the characterization of new materials and novel solutions to be employed as coatings in future gravitational wave detectors. Nano-layered coating deposition is among the most promising techniques. We report on the measurement of acoustic loss of nm-layered composites (Ti₂O/SiO₂), performed with the GeNS nodal suspension, compared with sputtered λ/4 thin films nowadays employed.

Keywords: mechanical measurement, nanomaterials, optical coating, thermal noise

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Domenico Carmelo Mongelli

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The context of this research is that of the Italian reality, which, in order to adapt to the EU Directives that prohibit the production of internal combustion engines in favor of electric mobility from 2035, is extremely concerned about the significant loss of jobs resulting from the difficulty of the automotive industry in converting in such a short time and due to the reticence of potential buyers in the face of such an epochal change. The aim of the research is to evaluate for Italy the potential of the most valid alternative to this transition to electric: leaving the current production of diesel engines unchanged, no longer powered by gasoil, imported and responsible for greenhouse gas emissions, but powered entirely by a nationally produced and eco-sustainable fuel such as biodiesel. Today in Italy, the percentage of biodiesel mixed with gasoil for diesel engines is too low (around 10%); for this reason, this research aims to evaluate the functioning of current diesel engines powered 100% by biodiesel and the ability of the Italian production system to cope to this hypothesis. The research geographically identifies those abandoned lands in Italy, now out of the food market, which is best suited to an energy crop for the final production of biodiesel. The cultivation of oilseeds is identified, which for the Italian agro-industrial reality allows maximizing the agricultural and industrial yields of the transformation of the agricultural product into a final energy product and minimizing the production costs of the entire agro-industrial chain. To achieve this objective, specific databases are used, and energy and economic balances are prepared for the different agricultural product alternatives. Solutions are proposed and tested that allow the optimization of all production phases in both the agronomic and industrial phases. The biodiesel obtained from the most feasible of the alternatives examined is analyzed, and its compatibility with current diesel engines is identified, and from the evaluation of its thermo-fluid-dynamic properties, the engineering measures that allow the perfect functioning of current internal combustion engines are examined. The results deriving from experimental tests on the engine bench are evaluated to evaluate the performance of different engines fueled with biodiesel alone in terms of power, torque, specific consumption and useful thermal efficiency and compared with the performance of engines fueled with the current mixture of fuel on the market. The results deriving from experimental tests on the engine bench are evaluated to evaluate the polluting emissions of engines powered only by biodiesel and compared with current emissions. At this point, we proceed with the simulation of the total replacement of gasoil with biodiesel as a fuel for the current fleet of diesel vehicles in Italy, drawing the necessary conclusions in technological, energy, economic, and environmental terms and in terms of social and employment implications. The results allow us to evaluate the potential advantage of a total replacement of diesel fuel with biodiesel for powering road vehicles with diesel cycle internal combustion engines without significant changes to the current vehicle fleet and without requiring future changes to the automotive industry.

Keywords: biodiesel, economy, engines, environment

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Authors: Joseph Clement Akan, Lami Jafiya, Zaynab Muhammad Chellube, Zakari Mohammed, Fanna Inna Abdulrahman

Abstract:

Five vegetables (spinach, lettuce, cabbage, tomato, and onion) were freshly harvested from the Alau Dam and Gongulong agricultural areas for the determination of some organochlorine pesticide residues (o, p-DDE, p,p’-DDD, o,p’-DDD, p,p’-DDT, α-BHC, γ-BHC, metoxichlor, lindane, endosulfan dieldrin, and aldrin.) Soil samples were also collected at different depths for the determination of the above pesticides. Samples collection and preparation were conducted using standard procedures. The concentrations of all the pesticides in the soil and vegetable samples were determined using GC/MS SHIMADZU (GC-17A) equipped with electron capture detector (ECD). The highest concentration was that of p,p’-DDD (132.4±13.45µg/g) which was observed in the leaf of cabbage, while the lowest concentration was that of p,p’-DDT (2.34µg/g) was observed in the root of spinach. Similar trends were observed at the Gongulong agricultural area, with p,p’-DDD having the highest concentration of 153.23µg/g in the leaf of cabbage, while the lowest concentration was that of p,p’-DDT (12.45µg/g) which was observed in the root of spinach. α-BHC, γ-BHC, Methoxychlor, and lindane were detected in all the vegetable samples studied. The concentrations of all the pesticides in the soil samples were observed to be higher at a depth of 21-30cm, while the lowest concentrations were observed at a depth of 0-10cm. The concentrations of all the pesticides in the vegetables and soil samples from the two agricultural sites were observed to be at alarming levels, much higher than the maximum residue limits (MRLs) and acceptable daily intake values (ADIs) .The levels of the pesticides observed in the vegetables and soil samples investigated, are of such a magnitude that calls for special attention and laws to regulate the use and circulation of such chemicals. Routine monitoring of pesticide residues in these study areas is necessary for the prevention, control and reduction of environmental pollution, so as to minimize health risks.

Keywords: Alau Dam, gongulong, organochlorine, pesticide residues, soil, vegetables

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Authors: Luisa Kynast

Abstract:

It is obvious that buildings and infrastructure are highly impacted by climate change (CC). Both, design and material of buildings need to be resilient to weather events in order to shelter humans, animals, or goods. As well as buildings and infrastructure are exposed to weather events, the construction process itself is generally carried out outdoors without being protected from extreme temperatures, heavy rain, or storms. The production process is restricted by technical limitations for processing materials with machines and physical limitations due to human beings (“outdoor-worker”). In future due to CC, average weather patterns are expected to change as well as extreme weather events are expected to occur more frequently and more intense and therefore have a greater impact on production processes and on the construction businesses itself. This research aims to examine this impact by analyzing an association between responses to CC and financial performance of businesses within the construction industry. After having embedded the above depicted field of research into the resource dependency theory, a literature review was conducted to expound the state of research concerning a contingent relation between climate change adaptation measures (CCAM) and corporate financial performance for construction businesses. The examined studies prove that this field is rarely investigated, especially for construction businesses. Therefore, reports of the Carbon Disclosure Project (CDP) were analyzed by applying content analysis using the software tool MAXQDA. 58 construction companies – located worldwide – could be examined. To proceed even more systematically a coding scheme analogous to findings in literature was adopted. Out of qualitative analysis, data was quantified and a regression analysis containing corporate financial data was conducted. The results gained stress adaptation measures as a response to CC as a crucial proxy to handle climate change impacts (CCI) by mitigating risks and exploiting opportunities. In CDP reports the majority of answers stated increasing costs/expenses as a result of implemented measures. A link to sales/revenue was rarely drawn. Though, CCAM were connected to increasing sales/revenues. Nevertheless, this presumption is supported by the results of the regression analysis where a positive effect of implemented CCAM on construction businesses´ financial performance in the short-run was ascertained. These findings do refer to appropriate responses in terms of the implemented number of CCAM. Anyhow, still businesses show a reluctant attitude for implementing CCAM, which was confirmed by findings in literature as well as by findings in CDP reports. Businesses mainly associate CCAM with costs and expenses rather than with an effect on their corporate financial performance. Mostly companies underrate the effect of CCI and overrate the costs and expenditures for the implementation of CCAM and completely neglect the pay-off. Therefore, this research shall create a basis for bringing CC to the (financial) attention of corporate decision-makers, especially within the construction industry.

Keywords: climate change adaptation measures, construction businesses, financial implication, resource dependency theory

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Authors: Shashwat Gangwal

Abstract:

This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2^nd of July, 2010 to 2^{nd of} August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin.

Keywords: bitcoin, financial instruments, portfolio management, risk adjusted return

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Authors: Catalina Iticescu, Lucian P. Georgescu, Mihaela Timofti, Gabriel Murariu

Abstract:

Since the accumulation of large quantities of sewage sludge is producing serious environmental problems, numerous environmental specialists are looking for solutions to solve this problem. The sewage sludge obtained by treatment of municipal wastewater may be used as fertiliser on agricultural soils because such sludge contains large amounts of nitrogen, phosphorus and organic matter. In many countries, sewage sludge is used instead of chemical fertilizers in agriculture, this being the most feasible method to reduce the increasingly larger quantities of sludge. The use of sewage sludge on agricultural soils is allowed only with a strict monitoring of their physical and chemical parameters, because heavy metals exist in varying amounts in sewage sludge. Exceeding maximum permitted quantities of harmful substances may lead to pollution of agricultural soil and may cause their removal aside because the plants may take up the heavy metals existing in soil and these metals will most probably be found in humans and animals through food. The sewage sludge analyzed for the present paper was extracted from the Wastewater Treatment Station (WWTP) Galati, Romania. The physico-chemical parameters determined were: pH (upH), total organic carbon (TOC) (mg L⁻¹), N-total (mg L⁻¹), P-total (mg L⁻¹), N-NH₄ (mg L⁻¹), N-NO₂ (mg L⁻¹), N-NO₃ (mg L⁻¹), Fe-total (mg L⁻¹), Cr-total (mg L⁻¹), Cu (mg L⁻¹), Zn (mg L⁻¹), Cd (mg L⁻¹), Pb (mg L⁻¹), Ni (mg L⁻¹). The determination methods were electrometrical (pH, C, TSD) - with a portable HI 9828 HANNA electrodes committed multiparameter and spectrophotometric - with a Spectroquant NOVA 60 - Merck spectrophotometer and with specific Merck parameter kits. The tests made pointed out the fact that the sludge analysed is low heavy metal falling within the legal limits, the quantities of metals measured being much lower than the maximum allowed. The results of the tests made to determine the content of nutrients in the sewage sludge have shown that the existing nutrients may be used to increase the fertility of agricultural soils. Other tests were carried out on lands where sewage sludge was applied in order to establish the maximum quantity of sludge that may be used so as not to constitute a source of pollution. The tests were made on three plots: a first batch with no mud and no chemical fertilizers applied, a second batch on which only sewage sludge was applied, and a third batch on which small amounts of chemical fertilizers were applied in addition to sewage sludge. The results showed that the production increases when the soil is treated with sludge and small amounts of chemical fertilizers. Based on the results of the present research, a fertilization plan has been suggested. This plan should be reconsidered each year based on the crops planned, the yields proposed, the agrochemical indications, the sludge analysis, etc.

Keywords: agricultural use, crops, physico–chemical parameters, sewage sludge

Procedia PDF Downloads 290

Authors: M. M. Othman, Walid El-Khattam, Y. G. Hegazy, A. Y. Abdelaziz

Abstract:

This paper presents a method for finding the optimal location and capacity of dispatchable DGs connected to the distribution feeders for optimal planning for a specified power loss without violating the system practical constraints. The distributed generation units in the proposed algorithm is modeled as voltage controlled node with the flexibility to be converted to constant power node in case of reactive power limit violation. The proposed algorithm is implemented in MATLAB and tested on the IEEE 37-nodes feeder. The results that are validated by comparing it with results obtained from other competing methods show the effectiveness, accuracy and speed of the proposed method.

Keywords: distributed generators, firefly technique, optimization, power loss

Procedia PDF Downloads 533

Authors: Majid Moshirfar, Kyle Margulies, Yasmyne C. Ronquillo, Phillip Hoopes

Abstract:

A total of 66 articles were reviewed to compare glaucoma and its associated surgeries' effect on central corneal endothelium cell density (CECD). The paper reports the average reported central CECD loss at 3-, 6-, 12-, 24-, 36-, 48-, and 60-month post-operation for each glaucoma surgery. ALT, MLT, SLT, CS AGV, VC BGI, Hydrus + phaco, XEN gel + phaco, PRESERFLO, Dual iStent, or Trabectome had no significant impact on postoperative CECD compared to either preoperative CECD or control group CECD. The highest CECD loss was found to be EXPRESS-phaco, AC AGV, CS BGI, CS BGI, AC BGI, and AC BGI at the 3-, 6-, 12-, 24-, 36-, 48-, and 60-month follow-ups, respectively. AC AGV, Trab + MMC, Trab, AC BGI, Trab + MMC, Cypass, and Cypass showed the smallest reduction of CECD at the 3-, 6-, 12-, 24-, 36-, 48-, and 60-month follow-ups.

Keywords: glaucoma, corneal endothelium, cell density, surgery outcome

Procedia PDF Downloads 99