Search results for: Institutional Investment Malaysia

Authors: Venkata Ramanaiah, Shabina Khanam

Abstract:

Enormous potential for saving energy is available in coal-based sponge iron plants as these are associated with the high percentage of energy wastage per unit sponge iron production. An energy integration option is proposed, in the present paper, to a coal based sponge iron plant of 100 tonnes per day production capacity, being operated in India using SL/RN (Stelco-Lurgi/Republic Steel-National Lead) process. It consists of the rotary kiln, rotary cooler, dust settling chamber, after burning chamber, evaporating cooler, electrostatic precipitator (ESP), wet scrapper and chimney as important equipment. Principles of process integration are used in the proposed option. It accounts for preheating kiln inlet streams like kiln feed and slinger coal up to 170ᴼC using waste gas exiting ESP. Further, kiln outlet stream is cooled from 1020ᴼC to 110ᴼC using kiln air. The working areas in the plant where energy is being lost and can be conserved are identified. Detailed material and energy balances are carried out around the sponge iron plant, and a modified model is developed, to find coal requirement of proposed option, based on hot utility, heat of reactions, kiln feed and air preheating, radiation losses, dolomite decomposition, the heat required to vaporize the coal volatiles, etc. As coal is used as utility and process stream, an iterative approach is used in solution methodology to compute coal consumption. Further, water consumption, operating cost, capital investment, waste gas generation, profit, and payback period of the modification are computed. Along with these, operational aspects of the proposed design are also discussed. To recover and integrate waste heat available in the plant, three gas-solid heat exchangers and four insulated ducts with one FD fan for each are installed additionally. Thus, the proposed option requires total capital investment of $0.84 million. Preheating of kiln feed, slinger coal and kiln air streams reduce coal consumption by 24.63% which in turn reduces waste gas generation by 25.2% in comparison to the existing process. Moreover, 96% reduction in water is also observed, which is the added advantage of the modification. Consequently, total profit is found as $2.06 million/year with payback period of 4.97 months only. The energy efficient factor (EEF), which is the % of the maximum energy that can be saved through design, is found to be 56.7%. Results of the proposed option are also compared with literature and found in good agreement.

Keywords: coal consumption, energy conservation, process integration, sponge iron plant

Procedia PDF Downloads 144

Authors: Talha Sareshwala

Abstract:

The purpose of this research paper is to help entrepreneurs build an environment of trust, transparency and accountability necessary for fostering long term investment, financial stability and business integrity and to guide future Entrepreneurs into a promising future. The study presents a broader review on Corporate Governance, starting from its definition and antecedents. This is the most important aspect of ethical business. In fact, the 3 main pillars of corporate governance are: Transparency; Accountability; Security. The combination of these 3 pillars in running a company successfully and forming solid professional relationships among its stakeholders, which includes key managerial employees and, most important, the shareholders This paper is sharing an experience how an entrepreneur can act as a catalyst while ensuring them that ethics and transparency do pay in business when followed in true spirit and action.

Keywords: business, entrepreneur, ethics, governance, transparency.

Procedia PDF Downloads 75

Authors: Stylianos Galoukas

Abstract:

since the eve of human societies, the need for survival and covering even the most basic needs such as hunting for food, led to the realization of the need for regulation between the personal and common interest. This led to the establishment of initially unwritten and later on, written rules which then became the Law. Transparency as a word has been used for more than 2.500 years. Born in ancient Greece around the 5th BC century and although it was not originally correlated to political or public administration acts, its enclosed principles and rules, were given even then, great attention. In today’s times of fake news and meta-politics, transparency has greatly correlated with the fight against corruption especially in the financially related matters. It is believed however that transparency, being a much wider than corruption meaning, has an even greater role to play than the corruption counterpart. It can be further used to unveil or examine the genuineness of the will towards the public interest, behind every public policy or political act. Therefore, herein the timeless and fundamental principles of institutional and public administration transparency are made clear as well as their application rules that can and ought to be used as evaluation criteria.

Keywords: evaluation citeria, policies, politics, principles, rules, transparency

Procedia PDF Downloads 199

Authors: Anar Koli

Abstract:

After the Paris agreement in 2015, a comprehensive initiative both from the developed and developing countries towards the adaptation to climate change is emerging. The Global Environmental Facility (GEF), which is financing a global portfolio of adaptation projects and programs in over 124 countries is playing a significant role to a new financing framework that included the concept of “climate-resilient development”. However, both the adaptation and sustainable development paradigms remain continuously contested, especially the role of the multilateral institutions with their technical and financial assistance to the developing world. Focusing on the adaptation initiatives of the GEF, this study aims to understand to what extent the global multilateral institutions, particularly the GEF is contributing to the climate-resilient development. From the political ecology perspective, the argument of this study is that the global financial framework is highly politicized, and understanding the contribution of the global institutions of the global climate change needs to be related both from the response and causal perspectives. A holistic perspective, which includes the contribution of the GEF as a response to the climate change and as well the cause of global climate change, are needed to understand the broader environment- political economic relation. The study intends to make a critical analysis of the way in which the political economy structure and the environment are related along with the social and ecological implications. It does not provide a narrow description of institutional responses to climate change, rather it looks at how the global institutions are influencing the relationship of the global ecologies and economies. This study thus developed a framework combining the global governance and the political economy perspective. This framework includes environment-society relation, environment-political economy linkage, global institutions as the orchestra, and division between the North and the South. Through the analysis of the GEF as the orchestra of the global governance, this study helps to understand how GEF is coordinating the interactions between the North and the South and responding the global climate resilient development. Through the other components of the framework, the study explains how the role of the global institutions is related to the cause of the human induced global climate change. The study employs a case study based on both the quantitative and qualitative data. Along with the GEF reports and data sets, this study draws from an eclectic range of literature from a range of disciplines to explain the broader relation of the environment and political economy. Based on a case study on GEF, the study found that the GEF has positive contributions in bringing developing countries’ capacity in terms of sustainable development goal, local institutional development. However, through a critical holistic analysis, this study found that this contribution to the resilient development helps the developing countries to conform the fossil fuel based capitalist political economy. The global governance institution is contributing both to the pro market based environment society relation and, to the consequences of this relation.

Keywords: climate change adaptation, global environmental facility (GEF), political economy, the north -south relation

Procedia PDF Downloads 230

Authors: Natia Tsiklashvili, Tamari Poladashvili

Abstract:

Education is one of the fundamental factors of economic prosperity in all respects. It is impossible to talk about the sustainable economic development of the country without substantial investments in human capital and investment into higher educational institutions. Education improves the standard of living of the population and expands the opportunities to receive more benefits, which will be equally important for both the individual and the society as a whole. There are growing initiatives among educated people such as entrepreneurship, technological development, etc. At the same time, the distribution of income between population groups is improving. The given paper discusses the scientific literature in the field of sustainable development through higher educational institutions. Scholars of economic theory emphasize a few major aspects that show the role of higher education in economic growth: a) Alongside education, human capital gradually increases which leads to increased competitiveness of the labor force, not only in the national but also in the international labor market (Neoclassical growth theory), b) The high level of education can increase the efficiency of the economy, investment in human capital, innovation, and knowledge are significant contributors to economic growth. Hence, it focuses on positive externalities and spillover effects of a knowledge-based economy which leads to economic development (endogenous growth theory), c) Education can facilitate the diffusion and transfer of knowledge. Hence, it supports macroeconomic sustainability and microeconomic conditions of individuals. While discussing the economic importance of education, we consider education as the spiritual development of the human that advances general skills, acquires a profession, and improves living conditions. Scholars agree that human capital is not only money but liquid assets, stocks, and competitive knowledge. The last one is the main lever in the context of increasing human competitiveness and high productivity. To address the local issues, the present article researched ten educational institutions across Georgia, including state and private HEIs. Qualitative research was done by analyzing in-depth interweaves of representatives from each institution, and respondents were rectors/vice-rectors/heads of quality assurance service at the institute. The result shows that there is a number of challenges that institution face in order to maintain sustainable development and be the strong links to education and the labor market. Mostly it’s contacted with bureaucracy, insufficient finances they receive, and local challenges that differ across the regions.

Keywords: higher education, higher educational institutions, sustainable development, regions, Georgia

Procedia PDF Downloads 85

Authors: Ryan Brading

Abstract:

The results of Taiwan’s presidential election, which took place on 11 January 2020, were alarming for the Kuomintang (KMT). A party that was once the pillar of Taiwan’s institutional apparatus is now losing its direction. Since 2016, the inability of KMT to construct a winning presidential election campaign strategy has made its Chinese ancestry an obstacle in Taiwan’s vibrant and transparent democracy. The appearance of the little-known legislator Han Kuo-yu as the leadership alternative opened the possibility of reigniting the party. Han’s victory in the Kaohsiung mayoral election in November 2018 provided hope that Han could also win the presidency. Wrongly described as a populist, Han, however, was defeated in the January 2020 presidential race. This article analyses why Han is not a populist, his triumph in Kaohsiung, humiliation in running for the presidency and suffering a complete ‘loss of face’ when Kaohsiungers democratically ousted him from the mayoral post on 6 June 2020.

Keywords: populism, 1992 consensus, youth vote, Taiwan, recall

Procedia PDF Downloads 177

Authors: George Nyori Makari, J. M. Ogola

Abstract:

Over the past few decades, manufacturing has evolved from a more labor-intensive set of mechanical processes to a sophisticated set of information based technology processes. With the existence of various advanced manufacturing technologies (AMTs), more and more functions or jobs are performed by these machines instead of human labour. This study was undertaken in order to research the extent of AMTs adoption in manufacturing companies in Kenya. In order to investigate a survey was conducted via questionnaires that were sent to 183 selected AMT manufacturing companies in Kenya. 92 companies responded positively. All the surveyed companies were found to have a measure of investment in at least two of the 14 types of AMTs investigated. In general the company surveyed showed that the level of AMT adoption in Kenya is very low with investments levels at a mean of 2.057 and integration levels at a mean of 1.639 in a scale of 1-5.

Keywords: AMT adoption, AMT investments, AMT integration, companies in Kenya

Procedia PDF Downloads 601

Authors: Ragy Raafat Gaber Attaalla

Abstract:

Background: The research begins with a summary of the state of pharmacy practice research, both now and in the future. The concerns that are relevant to practice research are then covered in this research to set the stage. These concerns include shifts in the demography of the population, technological advancements, the institutional function of pharmacies, consumer behavior, and the pharmacy profession itself. It also describes the significant changes in pharmacy practice research, such as interprofessional collaboration and patient teaming, the description and measurement of intervention results, and the cultural diversity of patients. Methods: It would be most frequently employed in the next pharmacy practice research are highlighted in the conclusion. They cover the cultural diversity of patients, documenting and assessing the results of interventions, and interdisciplinary communication and partnership with patients. Results: The rise of large and complicated data sets, the handling of electronic health records, and the use of a wide range of mixed techniques by pharmacy practice researchers are a few potential future methodological obstacles.

Keywords: pharmacy, practice, research, significant changes

Procedia PDF Downloads 13

Authors: Muhammad Ali Tariq

Abstract:

Grid-connected PV systems have drawn tremendous attention of researchers in the past recent years. The report elucidates the development of efficient and stable solar PV energy conversion systems after thorough analysis at various facets like PV module characteristics, its arrangement, power electronics and MPPT topologies, the stability of the grid, and economic viability over its lifetime. This report and feasibility study will try to bring all optimizing approaches and design calculations which are required for generating energy from BIPV and roof-mounted solar PV in a convenient, sustainable, and user-friendly way.

Keywords: building integrated photovoltaic system, grid integration, solar resource assessment, return on investment, multi MPPT-inverter, levelised cost of electricity

Procedia PDF Downloads 139

Authors: Nasser Y. Mahamoud, Pierre Dehombreux, Hassan E. Robleh

Abstract:

Industrial companies may be confronted with questions about their choice of maintenance policy. This choice must be guided by several numbers of decision criteria or objectives related to their production or service activities but also to their level of development and their investment prospects. A decision-support methodology to choose a maintenance policy (corrective, systematic or conditional preventive, predictive, opportunistic or not) is proposed to facilitate this choice using the main categories of the most important decision criteria. The different steps of this methodology are illustrated using theoretical case: identification of the different maintenance alternatives, determining the structure of the most important categories of the decision criteria, assessing the different maintenance policies on to the criteria by using an ordinal preference relation, and finally ranking the different maintenance policies.

Keywords: maintenance policy, decision criteria, decision-making process, AHP

Procedia PDF Downloads 333

Authors: Dêivisson Alves Anjos, Blenda Fonseca Aires Teles, Queitiane Castro Costa

Abstract:

Fire is one of the biggest dangers for factories, warehouses, mills, among other places, causing unimaginable damage, because besides the material damage also directly affects the lives of workers who are likely to suffer death or very serious consequences. This protection of the lives of these people should be taken seriously, always seeking safety. Thus investment in security and monitoring equipment must be high, so you can prevent or reduce the impacts of a possible fire. Our device, made in PIC micro controller monitors the temperature and the presence of gas in the environment, it sends the data via Bluetooth device to a developed in LabVIEW interface saves these data continuously and alert if the temperature exceeds the allowed or some gas is detected. Currently the device is in operation and can perform several tests, as well as use in different areas for which you need anti-fire protection.

Keywords: pic, bluetooth, fire, temperature, gas, LabVIEW

Procedia PDF Downloads 535

Authors: Chek Kim Loi

Abstract:

This study reports on a study examining the body paragraphs of English academic essays written by some ESL (English as a Second Language) undergraduate students. These students took English for Academic Purposes course for one semester at a public university in Malaysia. In addition to analyzing the communicative purposes employed in the sample, for triangulation of data, student participants were interviewed on their academic writing experience in their English for Academic Purposes (EAP) classroom. The present study has pedagogical implications in an EAP classroom.

Keywords: academic writing, body paragraphs, communicative purposes, pedagogical implications

Procedia PDF Downloads 262

Authors: Yusuf Abdullahi

Abstract:

The contribution of entrepreneurship in the economic development cannot be over-emphasized neither it should be underestimated for any reason as this is already a known fact that it plays an important role as a change agent and as a prime mover of economy. In developed or underdeveloped economy, the essence of entrepreneurship is highly significant as this exist in both private as well as public sectors of any economy. The roles of entrepreneurship are worldly acclaimed but yet as laudable as these roles there can be no significant success by any entrepreneur except with availability of finance. Nonetheless, mere availability of finance also cannot guarantee the success of an enterprise but there must be in place appropriate financial strategies for the funding/investment needs of an enterprise. Thus, little has been said when it comes to strategies needed to access various sources of finance. This paper, therefore, establishes appropriate strategies to obtain funds sources of finance by both small and as well as medium enterprises.

Keywords: entrepreneurship, Nigeria, financial strategies, economic development

Procedia PDF Downloads 484

Authors: Carolina A. Santos, Alexandra B. Ribeiro

Abstract:

Climate change and environmental degradation are threats to humanity. Europe has been addressing these problems, namely through the Green Deal, with the use of batteries in mobility and energy fields. However, these require the use of critical raw materials, like lithium, which demand is estimated to grow 60 times in the next 30 years. Thus, it is fundamental to promote a circular economy with lithium recovery from secondary resources. These are nowadays key topics, which will be even more relevant in the future, so a new way to approach them is needed and must be encouraged. Therefore, one of our main goals is to analyse two methods of lithium retrieval from secondary sources, bioleaching, and electrodialysis, and assess them regarding their sustainability. The latest results show good efficiency of removal with both methods, even though there are some matrix interferences. Hence, further investment and research are needed in order to make this process sustainable and our society more circular.

Keywords: lithium, sustainable mining, social license to operate, bioleaching, electrodialysis

Procedia PDF Downloads 132

Authors: Rakesh Mishra

Abstract:

India’s Demography has always amazed the world because of its unprecedented outcomes in the presence of multifaceted socioeconomic and geographical characteristics. Being the first one to implement family panning in 1952, it occupies 2nd largest population of the world, with some of its state like Uttar Pradesh contributing 5th largest population to the world population surpassing Brazil. Being the one with higher in number it is more prone to the demographic disparity persisting into its territories brought upon by the inequalities in availability, accessibility and attainability of socioeconomic and various other resources. Fifth goal of Millennium Development Goal emphasis to improve maternal and child health across the world as Children’s development is very important for the overall development of society and the best way to develop national human resources is to take care of children. The target is to reduce the infant deaths by three quarters between 1990 and 2015. Child health status depends on the care and delivery by trained personnel, particularly through institutional facilities which is further associated with the status of the mother. However, delivery in institutional facilities and delivery by skilled personnel are rising slowly in India. The main objective of the present study is to measure the child health status on based on the educational and occupational background of the women in India. Study indicates that women education plays a very crucial role in deciding the health of the new born care and access to family planning, but the women autonomy indicates to have mixed results in different states of India. It is observed that rural women are 1.61 times more likely to exclusive breastfed their children compared to urban women. With respect to Hindu category, women belonging to other religious community were 21 percent less likely to exclusive breastfed their child. Taking scheduled caste as reference category, the odds of exclusive breastfeeding is found to be decreasing in comparison to other castes, and it is found to be significant among general category. Women of high education status have higher odds of using family planning methods in most of the southern states of India. By and large, girls and boys are about equally undernourished. Under nutrition is generally lower for first births than for subsequent births and consistently increases with increasing birth order for all measures of nutritional status. It is to be noted that at age 12-23 months, when many children are being weaned from breast milk, 30 percent of children are severely stunted and around 21 percent are severely underweight. So, this paper presents the evidence on the patterns of prevailing child health status in India and its states with reference to the mother socioeconomics and biological characteristics and examines trends in these, and discusses plausible explanations.

Keywords: immunization, exclusive breastfeeding, under five mortality, binary logistic regression, ordinal regression and life table

Procedia PDF Downloads 267

Authors: Saurabh Ahluwalia, Sul Kassicieh

Abstract:

The conventional wisdom has maintained that being in proximity to entrepreneurial ecosystems helps startups to raise financing, develop and grow. In this paper, we examine the effect of a major component of an entrepreneurial ecosystem- financial or venture capital clusters on the exit of a startup through mergers and acquisitions (M&A). We find that the presence of a venture capitalist in a venture capital (VC) cluster is a major success factor for M&A exits. The location of startups in the top VC clusters did not turn out to be significant for success. Our results are robust to different specifications of the model that use different time periods, types of success, the reputation of VC, industry and the quality of the startup company. Our results provide evidence for VCs, startups and policymakers who want to better understand the components of entrepreneurial ecosystems and their relation to the M&A exits of startups.

Keywords: financial institution, mergers and acquisitions, startup financing, venture capital

Procedia PDF Downloads 202

Authors: Juan P. Novoa, Mario A. Rios

Abstract:

This paper presents a transmission planning methodology that considers the conversion of HVAC transmission lines to HVDC as an alternative of expansion of power systems, as a consequence of restrictions for the construction of new lines. The transmission expansion planning problem formulates an optimization problem that minimizes the total cost that includes the investment cost to convert lines from HVAC to HVDC and possible required reinforcements of the power system prior to the conversion. The costs analysis assesses the impact of the conversion on the reliability because transmission lines are out of service during the conversion work. The presented methodology is applied to a test system considering a planning a horizon of 10 years.

Keywords: transmission expansion planning, HVDC, cost optimization, energy non-supplied

Procedia PDF Downloads 388

Authors: Odd Jarl Borch, Marina Z. Solesvik

Abstract:

The paper analyses partner selection approaches related to large scale R&D-based innovation projects at the different stages of development. We emphasize innovation projects in the maritime value chain and how partners are selected to improve quality according to high spec customer demands, and to reduce investment costs on new production technology such as advanced offshore service vessels. We elaborate on the differences in innovation approach and especially the role that purposive inflows and outflows of knowledge from external partners may be used to accelerate internal innovation. We present three cases related to different projects in terms of specificity and scope. We explore how the partner selection criteria change over time when the goals move from wide scope to a very specific R&D tasks.

Keywords: partner selection, innovation, offshore industry, concept design

Procedia PDF Downloads 515

Authors: Anandkumar Rshindhe

Abstract:

Patents are considered as good monopoly in India. It is a mechanism by which the inventor is encouraged to do invention and also to make available to the society at large with a new useful technology. Patent system does not provide any protection to the invention itself but to the claims (rights) which the patentee has identified in relation to his invention. Thus the patentee is granted monopoly to the extent of his recognition of his own rights in the form of utilities and all other utilities of invention are for the public. Thus we find both benefit to the inventor and the public at large that is the ultimate consumer. But developing any such technology is not free of cost. Inventors do a lot of investment in the coming out with a new technologies. One such example if of Pharmaceutical industries. These pharmaceutical Industries do lot of research and invest lot of money, time and labour in coming out with these invention. Once invention is done or process identified, in order to protect it, inventors approach Patent system to protect their rights in the form of claim over invention. The patent system takes its own time in giving recognition to the invention as patent. Even after the grant of patent the pharmaceutical companies need to comply with many other legal formalities to launch it as a drug (medicine) in market. Thus major portion in patent term is unproductive to patentee and whatever limited period the patentee gets would be not sufficient to recover the cost involved in invention and as a result price of patented product is raised very much, just to recover the cost of invent. This is ultimately a burden on consumer who is paying more only because the legislature has failed to provide for the delay and loss caused to patentee. This problem can be effectively remedied if Patent Term extension is done. Due to patent term extension, the inventor gets some more time in recovering the cost of invention. Thus the end product is much more cheaper compared to non patent term extension.The basic question here arises is that when the patent period granted to a patentee is only 20 years and out of which a major portion is spent in complying with necessary legal formalities before making the medicine available in market, does the company with the limited period of monopoly recover its investment made for doing research. Further the Indian patent Act has certain provisions making it mandatory on the part of patentee to make its patented invention at reasonable affordable price in India. In the light of above questions whether extending the term of patent would be a proper solution and a necessary requirement to protect the interest of patentee as well as the ultimate consumer. The basic objective of this paper would be to check the implications of Extending the Patent term on Indian Consumers. Whether it provides the benefits to the patentee, consumer or a hardship to the Generic industry and consumer.

Keywords: patent term extention, consumer interest, generic drug industry, pharmaceutical industries

Procedia PDF Downloads 453

Authors: Noorizal Huang, Christian Girsang, Mohamad Razi Mansoor

Abstract:

Shallow gas seepage was first spotted at a central processing platform offshore Malaysia in 2010, acknowledged as Platform T in this paper. Frequent monitoring of the gas seepage was performed through remotely operated vehicle (ROV) baseline survey and a comprehensive geophysical survey was conducted to understand the characteristics of the gas seepage and to ensure that the integrity of the foundation at Platform T was not compromised. The origin of the gas back then was unknown. A soil investigation campaign was performed in 2016 to study the origin of the gas seepage. Two boreholes were drilled; a composite borehole to 150m below seabed for the purpose of soil sampling and in-situ testing and a pilot hole to 155m below the seabed, which was later converted to a fit-for-purpose relief well as an alternate migration path for the gas. During the soil investigation campaign, dissipation tests were performed at several layers which were potentially the source or migration path for the gas. Five (5) soil samples were segregated for headspace test, to identify the gas type which subsequently can be used to identify the origin of the gas. Dissipation tests performed at four depth intervals indicates pore water pressure less than 20 % of the effective vertical stress and appear to continue decreasing if the test had not been stopped. It was concluded that a low to a negligible amount of excess pore pressure exist in clayey silt layers. Results from headspace test show presence of methane corresponding to the clayey silt layers as reported in the boring logs. The gas most likely comes from biogenic sources, feeding on organic matter in situ over a large depth range. It is unlikely that there are large pockets of gas in the soil due to its homogeneous clayey nature and the lack of excess pore pressure in other permeable clayey silt layers encountered. Instead, it is more likely that when pore water at certain depth encounters a more permeable path, such as a borehole, it rises up through this path due to the temperature gradient in the soil. As the water rises the pressure decreases, which could cause gases dissolved in the water to come out of solution and form bubbles. As a result, the gas will have no impact on the integrity of the foundation at Platform T. The fit-for-purpose relief well design as well as adopting headspace testing can be used to address the shallow gas issue at Platform T in a cost effective and efficient manners.

Keywords: dissipation test, headspace test, excess pore pressure, relief well, shallow gas

Procedia PDF Downloads 274

Authors: Chaitanya Vyas

Abstract:

This paper identifies limitations of existing two e-Governance services viz. railway ticket booking and passport service in India. The comparison has been made as to how in the past these two citizen services were operating manually and how these services are taken online via e-Governance. Different e-Governance projects, investment aspects, and role of corporate are discussed. For Indian Railway online ticketing a comparison has been made between state run booking website and popular private firm run booking website. For passport service, observation through personal visit to passport center is described. Suggestions are made to improve these services further to improve citizen service experiences.

Keywords: e-Governance, citizen services, passport, Indian Railways

Procedia PDF Downloads 247

Authors: D. Jakubowska, M. Malek, P. Wisniewski, J. Mizera, K. J. Kurzydlowski

Abstract:

The goal of this study was to analyze the technological properties of ceramic slurries based on Ytttria (Y2O3) for fabrication “prime coat” in ceramic shell moulds for investment casting process. The Yttria with two different granulation of (200# and 325#) in ratio-65%-35% by weight were used for preparation the ceramic slurries. Solid phase was 77 wt.%. The experiment was carried out for 96h. Main technological properties like: viscosity, pH, plate weight test, and density were measured every 24h. Additionally, dynamic viscosity was performed after 96h of test. For further material characterization SEM observations, Zeta potential, XRD measurements were done. Those research showed that Yttria ceramic slurries had very promising properties and there are perspective for future fabrication.

Keywords: ceramic slurries, mechanizal properties, viscosity, fabrication

Procedia PDF Downloads 547

Authors: William Sigvardsson, Christoffer Alenius, Jenny Lindblom, Andreas Johansson, Marcus Sandberg

Abstract:

This article covers a study focusing on a subarctic greenhouse located in Nikkala, Sweden. Through a visit and the creation of a CFD model, the study investigates the differences in energy demand with high pressure sodium (HPS) lights and light emitting diode (LED) lights in combination with an air-carried and water-carried heating system accordingly. Through an IDA ICE model, the impact of insulating the parts of the greenhouse without active cultivation was also investigated. This, with the purpose of comparing the current system in the greenhouse to state-of-the-art alternatives and evaluating if an investment in either a water-carried heating system in combination with LED lights and insulating the non-cultivating parts of the greenhouse could be considered profitable. Operating a greenhouse in the harsh subarctic climate found in the northern parts of Sweden is not an easy task and especially if the operation is year-round. With an average temperature of under -5 °C from November through January, efficient growing techniques are a must to ensure a profitable business. Today the most crucial parts of a greenhouse are the heating system, lighting system, dehumidifying measures, as well as thermal screen, and the impact of a poorly designed system in a sub-arctic could be devastating as the margins are slim. The greenhouse studied uses a pellet burner to power their air- carried heating system which is used. The simulations found the resulting savings amounted to just under 14 800 SEK monthly or 18 % of the total cost of energy by implementing the water-carrying heating system in combination with the LED lamps. Given this, a payback period of 3-9 years could be expected given different scenarios, including specific time periods, financial aids, and the resale price of the current system. The insulation of the non-cultivating parts of the greenhouse was found to have possible savings of 25 300 SEK annually or 46 % of the current heat demand resulting in a payback period of just over 1-2 years. Given the possible energy savings, a reduction in emitted CO2 equivalents of almost 1,9 tonnes could be achieved annually. It was concluded that relatively inexpensive investments in modern greenhouse equipment could make a significant contribution to reducing the energy consumption of the greenhouse resulting in a more competitive business environment for sub-arctic greenhouse owners. New parts of the greenhouse should be built with the water-carried heating system in combination with state-of-the-art LED lights, and all parts which are not housing active cultivation should be insulated. If the greenhouse in Nikkala is eligible for financial aid or finds a resale value in the current system, an investment should be made in a new water-carried heating system in combination with LED lights.

Keywords: energy efficiency, sub-arctic greenhouses, energy measures, greenhouse climate control, greenhouse technology, CFD

Procedia PDF Downloads 76

Authors: A. T. Omarova, G. N. Nakipova

Abstract:

This article discusses the principles of object-oriented human capital development using the technology program. Also the article includes priorities of the strategy of industrial-innovative development of Kazakhstan in conditions of integration activity into the world community. The article shows the tasks of human resource management in the implementation of industrial and innovation development, particularities of Kazakhstan's theory of management staff, as well as due to the specificity of the Kazakhstan authorities. In the article, we have considered the factors which are affecting the people in the organization and also have considered mechanisms of HRM within organization in the conditions of innovative development in Kazakhstan.

Keywords: programming, management of human resources, innovation, investment, innovation process, HRD model, innovative development, integration, management, transformation, economic potential, competitiveness

Procedia PDF Downloads 401

Authors: Rabia Waseem, Low Kah Hin, Najihah Mohamed Hashim

Abstract:

The variability in the chemical components of the Syzygium species essential oils has been evaluated. The leaves of Syzygium species have been collected from Perak, Malaysia. The essential oils extracted by using the conventional Hydro-distillation extraction procedure and analyzed by using Gas chromatography System attached with Mass Spectrometry (GCMS). Twenty-seven constituents were found in Syzygium species in which the major constituents include: α-Pinene (3.94%), α-Thujene (2.16%), α-Terpineol (2.95%), g-Elemene (2.89%) and D-Limonene (14.59%). The aim of this study was the comparison between the evaluated data and existing literature to fortify the major variability through statistical analysis.

Keywords: chemotaxonomy, cluster analysis, essential oil, medicinal plants, statistical analysis

Procedia PDF Downloads 314

Authors: Hanee Ryu

Abstract:

The supporting policies for renewable energy have been designed to deploy renewable energy technology targeting domestic market. The government encourages market creation through obligations such as FIT or RPS on an energy supplier. With these policy measures, the securing vast market needs to induce technology development. Furthermore, it is crucial that ensuring developing market can make the environment nurture the renewable energy industry. Overseas expansion to countries being in demand is essential under immature domestic market. Extending its business abroad can make the domestic company get the knowledge through learning-by-doing. Besides, operation in the countries to be rich in renewable resources such as weather conditions helps to develop proven track record required for verifying technologies. This paper figures out the factor to hamper the global market entry and build up the strategies to overcome difficulties. Survey conducted renewable energy company having overseas experiences at least once. Based on the survey we check the obstacle against exporting home goods and services. As a result, securing funds is salient fact to proceed to business. It is difficult that only private bank or investment agencies participate in the project under uncertainty which renewable energy development project bears inherently. These uncertainties need public fund such as ODA to encourage private sectors to start a business. Furthermore, international organizations such as IRENA or multilateral development banks as WBG play a role to guarantee the investment including risk insurance against uncertainty. It can also manage excavation business cooperating with developing countries and supplement inadequate government funding involved. With survey results strategies to obtain the order, the international organization places are categorized according to the type of getting a contract. This paper suggests 3 types approaching to the international organization project (going through international competitive bidding, using ODA and project financing) and specifies the role of government to support the domestic firms with running out of funds. Under renewable energy industry environment where hard to being created as a spontaneous market, government policy approach needs to motivate the actors to get into the business. It is one of the good strategies that countries with the low demand of renewable energies participate in the project international agencies order in the developing countries having abundant resources. This provides crucial guidance for the formulation of renewable energy development policy and planning with consideration of business opportunities and funding.

Keywords: exporting strategies, multilateral development banks, promoting in developing countries, renewable energy technologies

Procedia PDF Downloads 520

Authors: Gulnaz Erkomaishvili, Eteri Kharaishvili, Marina Chavleishvili

Abstract:

The paper discusses the economic policy of increasing national competitiveness, the tools, and means which help the country to improve its competitiveness. The sectors of the economy, in which the country can achieve a competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining a competitive advantage - authority should take measures to ensure a high level of education; scientific and research activities should be funded by the state; foreign direct investments should be attracted mainly in science-intensive industries; adaptation with the latest scientific achievements of the modern world and deepening of scientific and technical cooperation. Stable business environment and export-oriented strategy is the basis for the country’s economic growth. The studies have shown that institutional reforms in Georgia are not enough to significantly improve the country's competitiveness.

Keywords: competitiveness, economic policy, competitiveness improvement strategy, competitiveness of Georgia

Procedia PDF Downloads 129

Authors: Philna Coetzee, Clara Msiza

Abstract:

In modern society, audit committees are seen as the custodians of accountability and the conscience of management and the board. But who holds the audit committee accountable for their actions or non-actions and how do we know what they are supposed to be doing and what they are doing? The purpose of this article is to provide greater insight into the latter part of this problem, namely, determine what best practises for audit committees and the disclosure of what is the realities are. In countries where governance is well established, the roles and responsibilities of the audit committee are mostly clearly guided by legislation and/or guidance documents, with countries increasingly providing guidance on this topic. With high cost involved to adhere to governance guidelines, the public (for public organisations) and shareholders (for private organisations) expect to see the value of their ‘investment’. For audit committees, the dividends on the investment should reflect in less fraudulent activities, less corruption, higher efficiency and effectiveness, improved social and environmental impact, and increased profits, to name a few. If this is not the case (which is reflected in the number of fraudulent activities in both the private and the public sector), stakeholders have the right to ask: where was the audit committee? Therefore, the objective of this article is to contribute to the body of knowledge by comparing the adherence of audit committee to best practices guidelines as stipulated in the King Report across public listed companies, national and provincial government departments, state-owned enterprises and local municipalities. After constructs were formed, based on the literature, factor analyses were conducted to reduce the number of variables in each construct. Thereafter, cluster analyses, which is an explorative analysis technique that classifies a set of objects in such a way that objects that are more similar are grouped into the same group, were conducted. The SPSS TwoStep Clustering Component was used, being capable of handling both continuous and categorical variables. In the first step, a pre-clustering procedure clusters the objects into small sub-clusters, after which it clusters these sub-clusters into the desired number of clusters. The cluster analyses were conducted for each construct and the measure, namely the audit opinion as listed in the external audit report, were included. Analysing 228 organisations' information, the results indicate that there is a clear distinction between the four spheres of business that has been included in the analyses, indicating certain strengths and certain weaknesses within each sphere. The results may provide the overseers of audit committees’ insight into where a specific sector’s strengths and weaknesses lie. Audit committee chairs will be able to improve the areas where their audit committee is lacking behind. The strengthening of audit committees should result in an improvement of the accountability of boards, leading to less fraud and corruption.

Keywords: audit committee disclosure, cluster analyses, governance best practices, strengths and weaknesses

Procedia PDF Downloads 169

Authors: Hasan Alrashid

Abstract:

The 2005 Hague Convention seeks to ensure legal certainty and predictability between parties in international business transactions. It harmonies exclusive choice of court agreements at the international level between parties to commercial transactions and to govern the recognition and enforcement of judgments resulting from proceedings based on such agreements to promote international trade and investment. Although the choice of court agreements is significant in international business transactions, the United Arab Emirates refuse to recognise it by Article 24 of the Federal Law No. 11 of 1992 of the Civil Procedure Code. A review of judicial judgments in United Arab Emirates up to the present day has revealed that several cases appeared before the Court in different states of United Arab Emirates regarding the recognition of exclusive choice of court agreements. In all the cases, the courts regarded the exclusive choice of court agreements as a direct assault on state authority and sovereignty and refused categorically to recognize choice of court agreements by refusing to stay proceedings in favor of the foreign chosen court. This has created uncertainty and unpredictability in international business transaction in the United Arab Emirates. In June 2011, the first Gulf Judicial Seminar on Cross-Frontier Legal Cooperation in Civil and Commercial Matters was held in Doha, Qatar. The Permanent Bureau of the Hague Conference attended the conference and invited the states of the Gulf Cooperation Council (GCC) namely, The United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait to adopt some of the Hague Conventions, one of which was the Hague Convention on Choice of Court Agreements. One of the recommendations of the conference was that the GCC states should research ‘the benefits of predictability and legal certainty provided by the 2005 Convention on Choice of Court Agreements and its resulting advantages for cross-border trade and investment’ for possible adoption of the Hague Convention. Up to today, no further step has been taken by the any of the GCC states to adapt the Hague Convention nor did they conduct research on the benefits of predictability and legal certainty in international business transactions. This paper will argue that the approach regarding the recognition of choice of court agreements in United Arab Emirates states can be improved in order to help the parties in international business transactions avoid parallel litigation and ensure legal certainty and predictability. The focus will be the uncertainty and gaps regarding the choice of court agreements in the United Arab Emirates states. The Hague Convention on choice of court agreements and the importance of harmonisation of the rules of choice of court agreements at international level will also be discussed. Finally, The feasibility and desirability of recognizing choice of court agreements in United Arab Emirates legal system by becoming a party to the Hague Convention will be evaluated.

Keywords: choice of court agreements, party autonomy, public authority, sovereignty

Procedia PDF Downloads 247

Authors: Hussain Bohra, Pradyuman Sharma

Abstract:

This study highlights the significance of Balance Sheet Indicators on the corporate performance in the case of Indian manufacturing companies. Balance sheet indicators show the actual financial health of the company and it helps to the external investors to choose the right company for their investment and it also help to external financing agency to give easy finance to the manufacturing companies. The period of study is 2000 to 2014 for 813 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test and Hausman test results proof the suitability of the fixed effect model for the estimation. Return on assets (ROA) is used as the proxy to measure corporate performance. ROA is the best proxy to measure corporate performance as it already used by the most of the authors who worked on the corporate performance. ROA shows return on long term investment projects of firms. Different ratios like Current Ratio, Debt-equity ratio, Receivable turnover ratio, solvency ratio have been used as the proxies for the Balance Sheet Indicators. Other firm specific variable like firm size, and sales as the control variables in the model. From the empirical analysis, it was found that all selected financial ratios have significant and positive impact on the corporate performance. Firm sales and firm size also found significant and positive impact on the corporate performance. To check the robustness of results, the sample was divided on the basis of different ratio like firm having high debt equity ratio and low debt equity ratio, firms having high current ratio and low current ratio, firms having high receivable turnover and low receivable ratio and solvency ratio in the form of firms having high solving ratio and low solvency ratio. We find that the results are robust to all types of companies having different form of selected balance sheet indicators ratio. The results for other variables are also in the same line as for the whole sample. These findings confirm that Balance sheet indicators play as significant role on the corporate performance in India. The findings of this study have the implications for the corporate managers to focus different ratio to maintain the minimum expected level of performance. Apart from that, they should also maintain adequate sales and total assets to improve corporate performance.

Keywords: balance sheet, corporate performance, current ratio, panel data method

Procedia PDF Downloads 267