Search results for: financial products

Authors: Obiamaka Nwobu, Samuel Faboyede, O. Oluseyi

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This study investigated the influence of gender on expectations and actual experiences from Industrial Work Experience, which is an aspect of the curriculum of undergraduate accounting students in selected Nigerian Universities. A survey research design was employed. Copies of a research questionnaire were made and administered to eighty (80) accounting students in selected Nigerian Universities who embarked on Students’ Industrial Work Experience Scheme (SIWES). Their expectations were juxtaposed with their actual experiences gleaned from the Industrial Work Experience. The data for the purpose of this study was analyzed using independent sample t-test. A total of fifteen (15) male and forty four (44) female students responded to the survey. This resulted in a response rate of 73.8 per cent. The results of this study indicated that there was no significant difference in the expectation of male and female undergraduate accounting students that the internship experience will be able to prepare them for an accounting career in the future, impart relevant knowledge, relate theories to work environment, enhance knowledge in financial accounting, cost accounting, accounting software, and general practice of accounting; prepare financial statements, interpret financial statements, develop problem solving skills, communication skills, and interpersonal skills; improve personal confidence and self-esteem, increase exposure to latest technology in the workplace, build rapport and networks, provide earnings, job experience, provide information and experience to choose career path. Furthermore, findings from the survey showed that there were differences in the expectations of students and their actual experiences with respect to their ability to relate theories to work environment, enhance knowledge in financial accounting, cost accounting, accounting software and exposure to latest technology in the workplace. The study only examined the perceptions of students from two Universities in South-West Nigeria. The research instrument used in this study can be administered to undergraduate accounting students in other universities in Nigeria. The Industrial Work Experience Scheme for undergraduate accounting students should be highly encouraged by tertiary institutions in Nigeria. This will ultimately make the students well prepared for a career in accounting.

Keywords: gender, expectations, actual experiences, industrial work experience

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Authors: Olaniyi Fawole, Umezuruike Opara

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Co-products obtained from pomegranate juice processing contain high levels of polyphenols with potential high added values. From value-addition viewpoint, the aim of this study was to evaluate the stability of polyphenolic concentrations in pomegranate fruit co-products in different solvent extracts and assess the effect on the total antioxidant capacity using the FRAP, DPPH˙ and ABTS˙+ assays during simulated in vitro digestion. Pomegranate juice, marc and peel were extracted in water, 50% ethanol (50%EtOH) and absolute ethanol (100%EtOH) and analysed for total phenolic concentration (TPC), total flavonoids concentration (TFC) and total antioxidant capacity in DPPH˙, ABST˙+ and FRAP assays before and after in vitro digestion. Total phenolic concentration (TPC) and total flavonoid concentration (TFC) were in the order of peel > marc > juice throughout the in vitro digestion irrespective of the extraction solvents used. However, 50% ethanol extracted 1.1 to 12-fold more polyphenols than water and ethanol solvents depending on co-products. TPC and TFC increased significantly in gastric digests. In contrast, after the duodenal, polyphenolic concentrations decreased significantly (p < 0.05) compared to those obtained in gastric digests. Undigested samples and gastric digests showed strong and positive relationships between polyphenols and the antioxidant activities measured in DPPH, ABTS and FRAP assays, with correlation coefficients (r2) ranging between 0.930 – 0.990 whereas, the correlation between polyphenols (TPC and TFC) and radical cation scavenging activity (in ABTS) were moderately positive in duodenal digests. Findings from this study also showed that the concentration of pomegranate polyphenols and antioxidant thereof during in vitro gastro-intestinal digestion may not reflect the pre-digested phenolic concentration. Thus, this study highlights the need to provide biologically relevant information on antioxidants by providing data reflecting their stability and activity after in vitro digestion.

Keywords: by-product, DPPH, polyphenols, value addition

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Authors: Flavio A. F. Da Ponte, Jackson Q. Malveira, Monica C. G. Albuquerque

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In recent years a worldwide interest in renewable resources from the biomass has spurred the industry. In this work the chemical structure of oleic acid chains was modified by homogeneous and heterogeneous catalysis in order to produce esters. The homogeneous epoxidation was carried out at H2O2 to oleic acid unsaturation molar ratio of 20:1. The reaction temperature was 338 K and reaction time 16 h. Formic acid was used as catalyst. For heterogeneous catalysis reaction temperature was 343 K and reaction time 24 h. The esters production was carried out by heterogeneous catalysis of the epoxidized oleic acid and butanol using Mg/SBA-15 as catalyst. The resulting products were confirmed by NMR (1H and 13C) and FTIR spectroscopy. The products were characterized before and after each reaction. The catalysts were characterized by X-ray diffraction, X-ray fluorescence, thermogravimetric analysis (TGA) and BET surface areas. The results were satisfactory for the bioproducts formed.

Keywords: acid oleic, bioproduct, esters, epoxidation

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Authors: Drago Jakovcevic, Mihovil Andelinovic, Igor Husak

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The aim of this paper is to explore the economic circumstances in which the selective credit policy, the least used instrument of four types of instruments on disposal to central banks, should be used. The most significant example includes the use of selective credit policies in response to the emergence of the global financial crisis by the FED. Specifics of the potential use of selective credit policies as the instigator of economic growth in Croatia, a small open economy, are determined by high euroization of financial system, fixed exchange rate and long-term trend growth of external debt that is related to the need to maintain high levels of foreign reserves. In such conditions, the classic forms of selective credit policies are unsuitable for the introduction. Several alternative approaches to implement selective credit policies are examined in this paper. Also, thorough analysis of distribution of selective monetary policy loans among economic sectors in Croatia is conducted in order to minimize the risk of investing funds and maximize the return, in order to influence the GDP growth.

Keywords: global crisis, selective credit policy, small open economy, Croatia

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Authors: G. Torabian, A. Fathi, P. Valtchev, F. Dehghani

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The superior polyphenol content of Sambucus nigra berries has high health potentials for the production of nutraceutical products. Numerous factors influence the polyphenol content of the final products including the berries’ source and the subsequent processing production steps. The aim of this study is to compare the polyphenol content of berries from two different sources and also to optimise the polyphenol extraction process from elderberries. Berries from source B obtained more acceptable physical properties than source A; a single berry from source B was double in size and weight (both wet and dry weight) compared with a source A berry. Despite the appropriate physical characteristics of source B berries, their polyphenolic profile was inferior; as source A berries had 2.3 fold higher total anthocyanin content, and nearly two times greater total phenolic content and total flavonoid content compared to source B. Moreover, the result of this study showed that almost 50 percent of the phenolic content of berries are entrapped within their skin and pulp that potentially cannot be extracted by press juicing. To address this challenge and to increase the total polyphenol yield of the extract, we used cold-shock blade grinding method to break the cell walls. The result of this study showed that using cultivars with higher phenolic content as well as using the whole fruit including juice, skin and pulp can increase polyphenol yield significantly; and thus, may boost the potential of using elderberries as therapeutic products.

Keywords: different sources, elderberry, grinding, juicing, polyphenols

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Authors: Monique de Ritter, Annemieke Roobeek

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This study takes a holistic multi-layered systems approach on entrepreneurship, innovation, and sustainability. Concretely we looked how mission driven entrepreneurs (level 1) employ new business models and launch innovative products and/or ideas in their enterprises, which are (level 2) operating in entrepreneurial ecosystems (level 3), and how these in turn may generate higher level sustainable change (level 4). We employed a qualitative grounded research approach in which our aim is to contribute to theory. Fourteen in-depth semi-structured interviews were conducted with mission driven entrepreneurs in the Netherlands in which their individual drives, business models, and ecosystems were discussed. Interview transcripts were systematically coded and analysed and the ecosystems were visually mapped. Most important patterns include 1) entrepreneurs have a clear sustainable mission and regard this mission as de raison d’être of their enterprise; 2) entrepreneurs employ new business models with a focus on collaboration for innovation; the business model supports or enhances the sustainable mission of the enterprise, 3) entrepreneurs collaborate in ecosystems in which a) they also regard suppliers as partners for innovation and clients as ambassadors for the sustainable mission, b) would like to improve their relationships with financial institutions as they are in the entrepreneurs’ perspective often lagging behind with their innovative ideas and models, c) they collaborate for knowledge and innovation with several parties, d) personal informal connections are very important, and e) in which the higher sustainable mission is not a point of competition but of collaboration.

Keywords: sustainability, entrepreneurship, innovation, ecosystem, business models

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Authors: Gabriela Borilova, Monika Petrakova, Petr Kralik

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Nowadays, European producers are increasingly interested in the production of halal meat products. Halal meat has been increasingly appearing in the EU's market network and meat products from European producers are being exported to Islamic countries. Halal criteria are mainly related to the origin of muscle used in production, and also to the way products are obtained and processed. Although the EU has legislatively addressed the question of food authenticity, the circumstances of previous years when products with undeclared horse or poultry meat content appeared on EU markets raised the question of the effectiveness of control mechanisms. Replacement of expensive or not-available types of meat for low-priced meat has been on a global scale for a long time. Likewise, halal products may be contaminated (falsified) by pork or food components obtained from pigs. These components include collagen, offal, pork fat, mechanically separated pork, emulsifier, blood, dried blood, dried blood plasma, gelatin, and others. These substances can influence sensory properties of the meat products - color, aroma, flavor, consistency and texture or they are added for preservation and stabilization. Food manufacturers sometimes access these substances mainly due to their dense availability and low prices. However, the use of these substances is not always declared on the product packaging. Verification of the presence of declared ingredients, including the detection of undeclared ingredients, are among the basic control procedures for determining the authenticity of food. Molecular biology methods, based on DNA analysis, offer rapid and sensitive testing. The PCR method and its modification can be successfully used to identify animal species in single- and multi-ingredient raw and processed foods and qPCR is the first choice for food analysis. Like all PCR-based methods, it is simple to implement and its greatest advantage is the absence of post-PCR visualization by electrophoresis. qPCR allows detection of trace amounts of nucleic acids, and by comparing an unknown sample with a calibration curve, it can also provide information on the absolute quantity of individual components in the sample. Our study addresses a problem that is related to the fact that the molecular biological approach of most of the work associated with the identification and quantification of animal species is based on the construction of specific primers amplifying the selected section of the mitochondrial genome. In addition, the sections amplified in conventional PCR are relatively long (hundreds of bp) and unsuitable for use in qPCR, because in DNA fragmentation, amplification of long target sequences is quite limited. Our study focuses on finding a suitable genomic DNA target and optimizing qPCR to reduce variability and distortion of results, which is necessary for the correct interpretation of quantification results. In halal products, the impact of falsification of meat products by the addition of components derived from pigs is all the greater that it is not just about the economic aspect but above all about the religious and social aspect. This work was supported by the Ministry of Agriculture of the Czech Republic (QJ1530107).

Keywords: food fraud, halal food, pork, qPCR

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Authors: Fernando Miguel Campos, Fernando Jesus Aguiar Campos, Pedro Filipe Campos

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A large amount of software products offer a wide range and number of features. This is called featurities or creeping featurism and tends to rise with each release of the product. Feautiris often adds unnecessary complexity to software, leading to longer learning curves and overall confusing the users and degrading their experience. We take a look to a new design approach tendency that has been coming up, the so-called “What You Get Is What You Need” concept that argues that products should be very focused, simple and with minimalistic interfaces in order to help users conduct their tasks in distraction-free ambiances. This is not as simple to implement as it might sound and the developers need to cut down features. Our contribution illustrates and evaluates this design method through a novel distraction-free diagramming tool named Delineato Pro for Mac OS X in which the user is confronted with an empty canvas when launching the software and where tools only show up when really needed.

Keywords: diagramming, HCI, usability, user interface

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Authors: Z. Soleymani, M. Amirzadeh

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Quality Function Deployment (QFD) was developed in 1960 in Japan and introduced in 1983 in America and Europe. The paper presents a real application of this technique in a way that the method of applying QFD in design and production aero fuel pumps has been considered. While designing a product and in order to apply system engineering process, the first step is identification customer needs then its transition to engineering parameters. Since each change in deign after production process leads to extra human costs and also increase in products quality risk, QFD can make benefits in sale by meeting customer expectations. Since the needs identified as well, the use of QFD tool can lead to increase in communications and less deviation in design and production phases, finally it leads to produce the products with defined technical attributes.

Keywords: customer voice, engineering parameters, gear pump, QFD

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Authors: Marike Venter de Villiers, Alicia Kruger

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The rapid development of the Internet has facilitated the proliferation of online stores. It has, therefore, become a pertinent issue for online retailers to provide the ultimate experience to customers in an attempt to maintain market share in this competitive landscape. Experiential marketing refers to the sensory dimensions that consumers experience when being faced with a purchase decision, such as getting them to sense, feel, think, act, and relate. The goal of experiential marketing is to provide a holistic experience for customers that allow them to engage in an activity where they may be motivated to purchase the concept behind the product. Creating a unique online experience holds several benefits to brands such as increased customer satisfaction, increased revisit intention, and higher levels of customer loyalty. Although several studies have explored the topic of experiential marketing in an online context, a lack of research exists on South African consumers, an emerging economy that is often overlooked globally. More specifically, the present study focused on professional females and their perceptions of experiential marketing when shopping for fashion products online. The main purpose of this study was to investigate the experiential factors that influence the online purchase intention of fashion products among female professionals. Furthermore, this study aimed to achieve the following objectives: firstly, to gain insight into key website characteristics that consumers value when shopping online for fashion products; secondly, to apply Pine and Gilmore’s (1989) Four Realms of an Experience (entertainment, education, esthetics, and escapism) to ground the study; and thirdly, to gain in-depth insight into the importance of these dimensions and identifying sub-categories that fashion marketers can use to enhance consumers’ online experience. By means of a qualitative study, a focus group was conducted comprising six professional females by using semi-structured questions. Respondents were selected using convenience sampling, and the results were analyzed using thematic analysis. The present research suggests that three of the four realms of experience influence purchase intention of fashion products online, namely, escapism, esthetics, and education. The fourth dimension, pleasure, was present but to a lesser degree. In other words, ‘escapism’ provides online shoppers with a sense of emotional and intellectual pleasure, while ‘esthetics’ refers to the website design, functionality, and product range, and ‘education’ comprises the product information such as the quality, fabric, price and available sizes. The findings of this study provide fashion marketers with insight into how they can maximize on experiential marketing when selling fashion products online. It further provides strategies and techniques for creating an enhanced online experience that ultimately may lead to increased purchase intention.

Keywords: experiential marketing, fashion, online, retail

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Authors: Sonal H. Singh, Bhaskar Bhowmick

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The research hypothesis formulated in this paper examines the importance of microfinance provision for entrepreneurship development by engendering a high level of entrepreneurial orientation among the grassroots entrepreneurs. A theoretically well supported empirical framework is proposed to identify the influence of financial services and non-financial services provided by microfinance institutes in strengthening the impact of grassroots innovation on entrepreneurial orientation under resource constraints. In this paper, Grassroots innovation is perceived in three dimensions: new learning practice, localized solution, and network development. The study analyzes the moderating effect of microfinance provision on the relationship between grassroots innovation and entrepreneurial orientation. The paper employed structural equation modelling on 400 data entries from the grassroots entrepreneurs in India. The research intends to help policymakers, entrepreneurs and microfinance providers to promote the innovative design of microfinance services for the well-being of grassroots entrepreneurs and to foster sustainable entrepreneurship development.

Keywords: entrepreneurship development, grassroots innovation, India, structural equation model

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Authors: Yazdan Moradi

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Spirulina platensis is a blue-green microalga with unique nutrient content and has many nutritional and therapeutic effects that are used to enrich various foods. The purpose of this research was to investigate the effect of Spirulina platensis microalgae on the nutritional value and sensory and physical properties of four different cereal-based products. For this purpose, spirulina microalgae dry powder with amounts of 0.25, 0.5, 0.75, and 1 is added to the formula of pasta, bulk bread, layered sweets, and cupcakes. A sample without microalgae powder of each product is also considered as a control. The results showed that adding Spirulina powder to the formulation of selected foods significantly changed the nutrition value and sensory and physical characteristics. Comparison to control protein increased in the samples containing spirulina powder. The increase in protein was about 1, 0.6, 1.2 and 1.1 percent in bread, cake, layered sweets and Pasta, respectively. The iron content of samples, including Spirulina, also increased. The increase was 0.6, 2, 5 and 18 percent in bread, cake, layered sweets and Pasta respectively. Sensory evaluation analysis showed that all products had an acceptable acceptance score. The instrumental analysis of L*, a*, and b* color indices showed that the increase of spirulina caused green color in the treatments, and this color change is more significant in the bread and pasta samples. The results of texture analysis showed that adding spirulina to selected food products reduces the hardness of the samples. No significant differences were observed in fat content in samples, including spirulina samples and control. However, fatty acid content and a trace amount of EPA found in samples included 1% spirulina. Added spirulina powder to food ingredients also changed the amino acid profile, especially essential amino acids. An increase of histidine, isoleucine, leucine, tryptophan, and valine in samples, including Spirulina was observed.

Keywords: spirulina, nutrition, Alge, iron, food

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Authors: Guity Karim, Valiollah Ayareh

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Probiotic dairy products are those that contain biologically active components that may affect beneficially one or more target functions in the body, beyond their adequate nutritional effects. As far as chocolate milk is a popular dairy product in the country especially among children and youth, production of a symbiotic (probiotic + peribiotic) new product using chocolate milk, Bifidobacterium lactis (DSM, Netherland) and inulin (Bene, Belgium) would help to promote the nutritional and functional properties of this product. Bifidobacterium Lactis is used as a probiotic in a variety of foods, particularly dairy products like yogurt and as a probiotic bacterium has benefit effects on the human health. Inulin as a peribiotic agent is considered as functional food ingredient. Experimental studies have shown its use as bifidogenic agent. Chocolate milk with different percent of fat (1 and 2 percent), 6 % of sugar and 0.9 % cacao was made, sterilized (UHT) and supplemented with Bifidobacterium lactis and inulin (0.5 %) after cooling . A sample was made without inulin as a control. Bifidobacterium lactis population was enumerated at days 0, 4, 8 and 12 together with measurement of pH, acidity and viscosity of the samples. Also sensory property of the product was evaluated by a 15 panel testers. The number of live bacterial cells was maintained at the functional level of 106-108 cfu/ml after keeping for 12 days in refrigerated temperature (4°C). Coliforms were found to be absent in the products during the storage. Chocolate milk containing 1% fat and inulin has the best effect on the survival and number of B. lactis at day 8 and after that. Moreover, the addition of inulin did not affect the sensorial quality of the product. In this work, chocolate has been evaluated as a potential protective carrier for oral delivery of B. lactis and inulin.

Keywords: chocolate milk, synbiotic, bifidobacterium lactis, inulin

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Authors: Lina Lauciene, Vaida Andruleviciute, Ingrida Sinkeviciene, Mindaugas Malakauskas, Loreta Serniene

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Dairy product manufacturers constantly are looking for new markets for their production. And in most cases, the problem of product compliance with the composition requirements of foreign products is highlighted. This is especially true of the composition of milk fat in dairy products. It is well known that there are many factors such as feeding ratio, season, cow breed, stage of lactation that affect the fatty acid composition in milk. However, there is less evidence on the impact of the technological process on the composition of fatty acids in raw milk and products made from it. In this study the influence of the technological process on fat composition in 82% fat butter, 15% fat curd, 3.6% fat yogurt and 2.5% fat UHT milk was determined. The samples were collected at each stage of production, starting with raw milk and ending with the final product in the Lithuanian milk-processing company. Fatty acids methyl esters were quantified using a GC (Clarus 680, Perkin Elmer) equipped with flame ionization detector (FID) and a capillary column SP-2560, 100 m x 0.25 mm id x 0.20 µm. Fatty acids peaks were identified using Supelco® 37 Component FAME Mix. The concentration of each fatty acid was expressed in percent of the total fatty acid amount. In the case of UHT milk production, it was compared raw milk, cream, milk mixture, and UHT milk but significant differences were not estimated between these stages. Analyzing stages of the yogurt production (raw milk, pasteurized milk, and milk with a starter culture and yogurt), no significant changes were detected between stages as well. A slight difference was observed with C4:0 - a percentage of this fatty acid was less (p=0.053) in the final stage than in milk with the starter culture. During butter production, the composition of fatty acids in raw cream, buttermilk, and butter did not change significantly. Only C14:0 decreased in the butter then compared to buttermilk. The curd fatty acid analysis showed the increase of C6:0, C8:0, C10:0, C11:0, C12:0 C14:0 and C17:0 at the final stage when compared to raw milk, cream, milk mixture, and whey. Meantime the increase of C18:1n9c (in comparison with milk mixture and curd) and C18:2n6c (in comparison with raw milk, milk mixture, and curd) was estimated in cream. The results of this study suggest that the technological process did not affect the composition of fatty acids in UHT milk, yogurt, butter, and curd but had the impact on the concentration of individual fatty acids. In general, all of the fatty acids from the raw milk were converted into the final product, only some of them slightly changed the concentration. Therefore, in order to ensure an appropriate composition of certain fatty acids in the final product, producers must carefully choose the raw milk. Acknowledgment: This research was funded by Lithuanian Ministry of Agriculture (No. MT-17-13).

Keywords: dairy products, fat composition, fatty acids, technological process

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Authors: Yi-Hsien Wang, Fu-Ju Yang, Hwa-Rong Shen, Rui-Lin Tseng

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The business is notably related to the market risk according to the increase of liberalization of financial markets. Hence, the company usually utilized high financial leverage of derivatives to hedge the risk. When the company choose different hedging instruments to face a variety of exchange rate risk, we employ the Multinomial Logistic-AHP to analyze the impact of various derivatives. Hence, the research summarized the literature on relevant factors affecting managers selected exchange rate hedging instruments, using Multinomial Logistic Model and and further integrate AHP. Using Experts’ Questionnaires can test multi-level selection and hedging effect of different hedging instruments in order to calculate the hedging instruments and the multi-level factors of weights to understand the gap between the empirical results and practical operation. Finally, the Multinomial Logistic-AHP Model will sort the weights to analyze. The research findings can be a basis reference for investors in decision-making.

Keywords: exchange rate risk, derivatives, hedge, multinomial logistic-AHP

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Authors: Yasir Ramadhan

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This study aims to investigate tax avoidance practices when a financial crisis occurs due to the effects of the COVID-19 pandemic. This study also finds out how the influence of independent commissioners and external auditors on tax avoidance practices during the COVID-19 pandemic. Tax avoidance practices are measured by the current ETR. The role of the independent board of commissioners is measured by the proportion of independent commissioners in the composition of the board of commissioners, while the external auditor is measured by audit quality. In this study, there were 342 observations of companies listed on the Indonesia Stock Exchange from 2019 to 2020. This study used the difference-in-differences (DiD) method in data analysis. The results of this study indicate that companies do tax avoidance during the COVID-19 pandemic. Meanwhile, independent commissioners and qualified audits are not proven to be able to negate tax avoidance practices during the COVID-19 Pandemic. These results also show that a higher proportion of independent commissioners and audit quality are not sufficient for countries with low levels of auditor litigation and investor protection and weak regulatory frameworks.

Keywords: audit, commissioner, tax avoidance, COVID-19 pandemic

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Authors: T. Kuchukhidze, N. Jalagonia, T. Archuadze, G. Bokuchava

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The growing scientific-technological progress in modern civilization causes actuality of producing construction materials which can successfully work in conditions of high temperature, radiation, pressure, speed, and chemically aggressive environment. Such extreme conditions can withstand very few types of materials and among them, ceramic materials are in the first place. Corundum ceramics is the most useful material for creation of constructive nodes and products of various purposes for its low cost, easy accessibility to raw materials and good combination of physical-chemical properties. However, ceramic composite materials have one disadvantage; they are less plastics and have lower toughness. In order to increase the plasticity, the ceramics are reinforced by various dopants, that reduces the growth of the cracks. It is shown, that adding of even small amount of carbon fibers and carbon nanotubes (CNT) as reinforcing material significantly improves mechanical properties of the products, keeping at the same time advantages of alundum ceramics. Graphene in composite material acts in the same way as inorganic dopants (MgO, ZrO2, SiC and others) and performs the role of aluminum oxide inhibitor, as it creates shell, that gives possibility to reduce sintering temperature and at the same time it acts as damper, because scattering of a shock wave takes place on carbon structures. Application of different structural modification of carbon (graphene, nanotube and others) as reinforced material, gives possibility to create multi-purpose highly requested composite materials based on alundum ceramics. In the present work offers simplified technology for obtaining of aluminum oxide ceramics, reinforced with carbon nanostructures, during which chemical modification with doping carbon nanostructures will be implemented in the process of synthesis of final powdery composite – Alumina. In charge doping carbon nanostructures connected to matrix substance with C-O-Al bonds, that provide their homogeneous spatial distribution. In ceramic obtained as a result of consolidation of such powders carbon fragments equally distributed in the entire matrix of aluminum oxide, that cause increase of bending strength and crack-resistance. The proposed way to prepare the charge simplifies the technological process, decreases energy consumption, synthesis duration and therefore requires less financial expenses. In the implementation of this work, modern instrumental methods were used: electronic and optical microscopy, X-ray structural and granulometric analysis, UV, IR, and Raman spectroscopy.

Keywords: ceramic materials, α-Al₂O₃, carbon nanostructures, composites, characterization, hot-pressing

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Authors: Vahid Khadjeh Anvary, Hamideh Karimi Yazdi

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Generally, the tool of comparison between performance of each stage in the life of a project, is the number of project progress during that period, which in most cases is only determined as one-dimensional with referring to one of three factors (physical, time, and financial). In many projects in developing countries there are controversies on accuracy and the way of analyzing progress report of projects that hinders getting definitive and engineering conclusions on the status of project.Identifying weakness points of this kind of one-dimensional look on project and determining a reliable and engineering approach for multi-dimensional decoding information receivable from project is of great importance in project management.This can be a tool to help identification of hidden diseases of project before appearing irreversible symptoms that are usually delays or increased costs of execution. The method used in this paper is defining and evaluating a hypothetical project as an example analyzing different scenarios and numerical comparison of them along with related graphs and tables. Finally, by analyzing different possible scenarios in the project, possibility or impossibility of predicting their occurrence is examine through the evidence.

Keywords: physical progress, time progress, financial progress, delays, critical path

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Authors: Gianella Franco, Karen Suarez, María Quijano, Patricia Manzano

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Agro-industries generate large amounts of waste, which are mostly untapped. This research was carried out to use cocoa, coffee and orange industrial by-products to develop a dairy drink. The product was prepared by making a 10% aqueous extract of the mixture of cocoa and coffee beans shells and orange peel. Extreme Vertices Mixture Design was applied to vary the proportions of the ingredients of the aqueous extract, getting 13 formulations. Each formulation was mixed with skim milk and pasteurized. The attributes of taste, smell, color and appearance were evaluated by a semi-trained panel by multiple comparisons test, comparing the formulations against a standard marked as "R", which consisted of a coffee commercial drink. The formulations with the highest scores were selected to maximize the Total Polyphenol Content (TPC) through a process of linear optimization resulting in the formulation 80.5%: 18.37%: 1.13% of cocoa bean shell, coffee bean shell and orange peel, respectively. The Total Polyphenol Content was 4.99 ± 0.34 mg GAE/g of drink, DPPH radical scavenging activity (%) was 80.14 ± 0.05 and caffeine concentration of 114.78 mg / L, while the coffee commercial drink presented 3.93 ± 0.84 mg GAE / g drink, 55.54 ± 0.03 % and 47.44 mg / L of TPC, DPPH radical scavenging activity and caffeine content, respectively. The results show that it is possible to prepare an antioxidant - rich drink with good sensorial attributes made of industrial by-products.

Keywords: DPPH, polyphenols, waste, food science

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Authors: Reyhane Abdollahi

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The beauty of appearance has been important in people's lives since the beginning of history. In every era, beauty has had a specific meaning, and individuals have represented the standards of beauty during each period. According to statistics, the beauty industry has experienced significant economic growth in recent decades, with projections indicating it will reach $583 billion by 2027. The emergence of social media, backed by technological advancements, has created a suitable platform for various beauty brands to engage in economic activities. It can be said that today, beauty bloggers represent the beauty standards of society, actively engaging on social media platforms such as Instagram. Beauty bloggers promote cosmetic and skin care products in front of the camera in their ideal state, utilizing their skills. Instagram, with its limited two-way communication between users and influencers, has also created a suitable environment for advertising. The aim of this research is to study the relationship between beauty bloggers and the consumption patterns of female followers. This research was conducted through interviews with Ten women over the age of 20 who have followed these pages for three years or more, and the findings were analyzed using qualitative content analysis. According to the findings, beauty bloggers encourage women to purchase cosmetic products by creating a sense of identification through sharing their experiences. Beauty bloggers generate a false sense of need for consumption among their audience by promoting beauty products. The feeling of inadequacy, stemming from women's comparisons with bloggers who are always beautiful, leads women to try to imitate the consumption habits and appearance of these bloggers.

Keywords: beauty blogger, instagram, beauty, consumption

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Authors: Murtala Mohammed Alamai, Abdullahi Marshal Idris, Adama Idris

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Today, marketing does not only involve selecting target markets, but it also involves communicating with the customers through various means to put across your selling point. Modern marketing involves driving new product development based on customer needs by getting feedback from them. Utilizing the latest technology for better communication with the customers is the latest advancement in Marketing in the 21st century. The survey approach was used where a sample of tourist destinations across the six geographical zones of the country at random was done to ascertain the use of information communication systems in promoting their products and or services, the findings revealed that only a few utilize these modern advanced means in marketing and promoting their products and a need to develop effective and up to date online services for marketing was proffered as solutions to the findings observed.

Keywords: information, communication, travel, trade, promotion

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Authors: Filipe Cardoso de Oliveira, Lino Marcos da Silva, Ademar Nogueira do Nascimento, Cristiano Hora de Oliveira Fontes

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This article presents a mathematical formulation for the production Break-Even Point problem in a non-homogeneous system. The optimization problem aims to obtain the composition of the best product mix in a non-homogeneous industrial plant, with the lowest cost until the breakeven point is reached. The problem constraints represent real limitations of a generic non-homogeneous industrial plant for n different products. The proposed model is able to solve the equilibrium point problem simultaneously for all products, unlike the existing approaches that propose a resolution in a sequential way, considering each product in isolation and providing a sub-optimal solution to the problem. The results indicate that the product mix found through the proposed model has economical advantages over the traditional approach used.

Keywords: branch and bound, break-even point, non-homogeneous production system, integer linear programming, management accounting

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Authors: Helena Costa Oliveira, Carmem Oliveira, Rita Moutinho

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The Balanced Scorecard (BSC) is a continuous strategic monitoring model focused not only on financial issues but also on internal processes, patients/users, and learning and growth. Initially dedicated to business management, it currently serves organizations of other natures - such as hospitals. This paper presents a BSC designed for a Portuguese Acute Pain Unit (APU). This study is qualitative and based on the experience of collaborators at the APU. The management of APU is based on four perspectives – users, internal processes, learning and growth, and financial and legal. For each perspective, there were identified strategic objectives, critical factors, lead indicators and initiatives. The strategic map of the APU outlining sustained strategic relations among strategic objectives. This study contributes to the development of research in the health management area as it explores how organizational insufficiencies and inconsistencies in this particular case can be addressed, through the identification of critical factors, to clearly establish core outcomes and initiatives to set up.

Keywords: acute pain unit, balanced scorecard, hospital management, organizational performance, Portugal

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Authors: Abdelkader Mohamed Abdelkader Mohamed Gaballah

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This study addresses advancements in veterinary health and their significance in enhancing animal care. The primary objective is to meet the increasing needs of veterinarians and farmers by offering sustainable and effective veterinary medicines that comply with safety and efficacy standards. The methodology involves a comprehensive selection process to source high-quality veterinary products from trusted manufacturers while ensuring adherence to environmental sustainability principles. The findings demonstrate that these products significantly contribute to improving animal health, reducing the prevalence of diseases, and supporting sustainable farming practices. In conclusion, the study emphasizes the importance of collaborative efforts within the veterinary pharmaceutical industry to meet global demands and promote sustainable practices in animal care.

Keywords: veterinary medicine, animal health, veterinary pharmaceuticals, livestock management, animal science and care, veterinary drug development, animal nutrition, wellness

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Authors: Akintayo Emmanuel Temitope, Akintayo Cecilia Olufunke, Ziegler Thomas

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Bio-polyols are important components in polyurethane industries. The preliminary studies into the synthesis of bio-polyol products (epoxy-polyol and epoxyl-polyurethanes) from Jatropha curcas were investigated. The reactions were followed by both infrared and nuclear magnetic resonance. Physico-chemical characterisation of the samples for iodine value (IV), acid value (AV), saponification value (SV) and hydroxyl value (HV) were carried out. Thermal transitions of the products were studied by heating 5 mg of the sample from 20ºC to 800ºC and then cooling down to -500ºC on a differential scanning calorimeter (DSC). The preparation of epoxylpolyol and polyurethane from Jatropha curcas oil was smooth and efficient. Results of film and solubility properties revealed that coatings of Jatropha curcas epoxy-polyurethanes performed better with increased loading of toluylene 2, 4-diisocyanate (TDI) up to 2 wt% while their solvent resistance decreased beyond a TDI loading of 1.2 wt%. DSC analysis shows the epoxy-polyurethane to be less stable compared to the epoxy-polyol.

Keywords: synthesis, epoxy-polyol, epoxy-polyurethane, jatropha curcas oil

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Authors: H. K. G. K. D. K. Hapuhinna, R. D. Gunaratne, H. M. J. C. Pitawala

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Hydroxyapatite is a bioceramic which can be used for applications in orthopedics and dentistry due to its structural similarity with the mineral phase of mammalian bones and teeth. In this study, it was synthesized, chemically changing natural Eppawala chloroapatite mineral as a value-added product. Sol-gel approach and solid state sintering were used to synthesize products using diluted nitric acid, ethanol and calcium hydroxide under different conditions. Synthesized Eppawala hydroxyapatite powder was characterized using X-ray Fluorescence (XRF), X-ray Powder Diffraction (XRD), Fourier-transform Infrared Spectroscopy (FTIR), Scanning Electron Microscopy (SEM), Thermogravimetric Analysis (TGA) and Differential Scanning Calorimetry (DSC) in order to find out its composition, crystallinity, presence of functional groups, bonding type, surface morphology, microstructural features, and thermal dependence and stability, respectively. The XRD results reflected the formation of a hexagonal crystal structure of hydroxyapatite. Elementary composition and microstructural features of products were discussed based on the XRF and SEM results of the synthesized hydroxyapatite powder. TGA and DSC results of synthesized products showed high thermal stability and good material stability in nature. Also, FTIR spectroscopy results confirmed the formation of hydroxyapatite from apatite via the presence of hydroxyl groups. Those results coincided with the FTIR results of mammalian bones including human bones. The study concludes that there is a possibility of producing hydroxyapatite using commercially available Eppawala chloroapatite in Sri Lanka.

Keywords: dentistry, Eppawala chlorapatite, hydroxyapatite, orthopedics

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Authors: Debdatta Mukherjee, Abhiman Das, Amit Garg

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In recent years, there is a growing interest about corporate social responsibility of firms in both academic literature and business world. Since business forms a part of society incorporating socio-environment concerns into its value chain, activities are vital for ensuring mutual sustainability and prosperity. But, until now most of the works have been either descriptive or normative rather than positivist in tone. Even the few ones with a positivist approach have mostly studied the link between corporate financial performance and corporate social performance. However, these studies have been severely criticized by many eminent authors on grounds that they lack a theoretical basis for their findings. They have also argued that apart from corporate financial performance, there must be certain other crucial influences that are likely to determine corporate social performance of firms. In fact, several studies have indicated that firms operating in distinct national institutions show significant variations in the corporate social responsibility practices that they undertake. This clearly suggests that the institutional context of a country in which the firms operate is a key determinant of corporate social performance of firms. Therefore, this paper uses an institutional framework to understand why corporate social performance of firms vary across countries. It examines the impact of country level institutions on corporate social performance using a sample of 3240 global publicly-held firms across 33 countries covering the period 2010-2015. The country level institutions include public institutions, private institutions, markets and capacity to innovate. Econometric Analysis has been mainly used to assess this impact. A three way panel data analysis using fixed effects has been used to test and validate appropriate hypotheses. Most of the empirical findings confirm our hypotheses and the economic significance indicates the specific impact of each variable and their importance relative to others. The results suggest that institutional determinants like ethical behavior of private institutions, goods market, labor market and innovation capacity of a country are significantly related to the corporate social performance of firms. Based on our findings, few implications for policy makers from across the world have also been suggested. The institutions in a country should promote competition. The government should use policy levers for upgrading home demands, like setting challenging yet flexible safety, quality and environment standards, and framing policies governing buyer information, providing innovative recourses to low quality goods and services and promoting early adoption of new and technologically advanced products. Moreover, the institution building in a country should be such that they facilitate and improve the capacity of firms to innovate. Therefore, the proposed study argues that country level institutions impact corporate social performance of firms, empirically validates the same, suggest policy implications and attempts to contribute to an extended understanding of corporate social responsibility and corporate social performance in a multinational context.

Keywords: corporate social performance, corporate social responsibility, institutions, markets

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Authors: Amin Nazifi, Amir Raki, Doga Istanbulluoglu

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The incorporation of technological advancements into financial services, commonly referred to as Fintech, is primarily aimed at promoting services that are accessible, convenient, and inclusive, thereby benefiting both consumers and businesses. Fintech services employ a variety of technologies, including Artificial Intelligence (AI), blockchain, and big data, to enhance the efficiency and productivity of traditional services. Cryptocurrency, a component of Fintech, is projected to be a trillion-dollar industry, with over 320 million consumers globally investing in various forms of cryptocurrencies. However, these potentially transformative services can also lead to adverse outcomes. For instance, recent Fintech innovations have been increasingly linked to misconduct and disservice, resulting in serious implications for consumer well-being. This could be attributed to the ease of access to Fintech, which enables adults to trade cryptocurrencies, shares, and stocks via mobile applications. However, there is little known about the darker aspects of technological advancements, such as Fintech. Hence, this study aims to generate scholarly insights into the design of robust and resilient Fintech services that can add value to businesses and enhance consumer well-being. Using a mixed-method approach, the study will investigate the personal and contextual factors influencing consumers’ adoption and usage of technology innovations and their impacts on consumer well-being. First, semi-structured interviews will be conducted with a sample of Fintech users until theoretical saturation is achieved. Subsequently, based on the findings of the first study, a quantitative study will be conducted to develop and empirically test the impacts of these factors on consumers’ well-being using an online survey with a sample of 300 participants experienced in using Fintech services. This study will contribute to the growing Transformative Service Research (TSR) literature by addressing the latest priorities in service research and shedding light on the impact of fintech services on consumer well-being.

Keywords: consumer well-being, financial literacy, Fintech, service innovation

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Authors: Sagir Abubakar

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The electronic means of transaction has provided an opportunity especially for commercial banks to entice more customers that will subsequently boost their return on investment. It moves them from traditional marketing into digital marketing and gives them a competitive advantage over others in the same industry.The paper, therefore, examined the competitive advantage of the electronic marketing strategy among commercial banks branches in Bauchi state. The main objective of the study was to determine the impact of e-marketing strategy as a competitive advantage among commercial banks branches in Bauchi state and to evaluate the level of enlightenment campaign offered by the commercial banks branches to their customers on e-marketing. The study obtained data from the staff of the five (s) selected banks branches as the respondents to answer the questionnaire. The research is a quantitative research, where the data where obtained using questionnaire. 100 questionnaires were distributed and analyzed using SPSS’s regression analysis. The research among other findings discovered that, the e-marketing has led to a significant improvement in the banking industry and is expected to continue because of the improvement in the ICT sector. It was also found out that most customers are not aware of the electronic products offered by commercial banks branches in Bauchi state. Some of factors affecting the adoption of e-marketing by banks as indicated from the findings include: top management commitment, government policy on ICT and availability of ICT personnel. The study recommended that commercial banks branches should engage in enlightenment campaign about the existing of their e- products/services, management should place an incentives in order to raise the interest of customers to patronize the products/services online.

Keywords: e-marketing strategy, competitive advantage, banks, Bauchi State

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Authors: Chrysoula Karathanasi, Senad Karavdic, Angela Odero, Michèle Baumann

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It is not only the economic determinants that impact on life conditions, but maintaining a good level of life satisfaction (LS) may also be an important challenge currently. In Luxembourg, university students receive financial aid from the government. They are then registered at the Centre for Documentation and Information on Higher Education (CEDIES). Luxembourg is built on migration with almost half its population consisting of foreigners. It is upon this basis that our research aims to analyze the associations with mental health factors (health satisfaction, psychological quality of life, worry), perceived financial situation, career attitudes (adaptability, optimism, knowledge, planning) and LS, for non-Luxembourgish and native postgraduate students. Between 2012 and 2013, postgraduates registered at CEDIES were contacted by post and asked to participate in an online survey with either the option of English or French. The study population comprised of 644 respondents. Our statistical analysis excluded: those born abroad who had Luxembourgish citizenship, or those born in Luxembourg who did not have citizenship. Two groups were formed one consisting 147 non-Luxembourgish and the other 284 natives. A single item measured LS (1=not at all satisfied to 10=very satisfied). Bivariate tests, correlations and multiple linear regression models were used in which only significant relationships (p<0.05) were integrated. Among the two groups no differences were found between LS indicators (7.8/10 non-Luxembourgish; 8.0/10 natives) as both were higher than the European indicator of 7.2/10 (for 25-34 years). In the case of non-Luxembourgish students, they were older than natives (29.3 years vs. 26.3 years) perceived their financial situation as more difficult, and a higher percentage of their parents had an education level higher than a Bachelor's degree (father 59.2% vs 44.6% for natives; mother 51.4% vs 33.7% for natives). In addition, the father’s education was related to the LS of postgraduates and the higher was the score, the greater was the contribution to LS. Whereas for native students, when their scores of health satisfaction and career optimism were higher, their LS’ score was higher. For both groups their LS was linked to mental health-related factors, perception of their financial situation, career optimism, adaptability and planning. The higher the psychological quality of life score was, the greater the LS of postgraduates’ was. Good health and positive attitudes related to the job market enhanced their LS indicator.

Keywords: career attributes, father's education level, life satisfaction, mental health

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