Search results for: electricity markets

Authors: R. Chedid, R. Ghajar

Abstract:

Lebanon electricity crisis continues to escalate. Rationing hours still apply across the country but with different rates. The capital Beirut is subjected to 3 hours cut while other cities, town and villages may endure 9 to 14 hours of power shortage. To mitigate this situation, private diesel generators distributed illegally all over the country are being used to bridge the gap in power supply. Almost each building in large cities has its own generator and individual villages may have more than one generator supplying their loads. These generators together with their private networks form incomplete and ill-designed and managed microgrids (MG) but can be further developed to become renewable energy-based MG operating in island- or grid-connected modes. This paper will analyze the potential of introducing MG to help resolve the energy crisis in Lebanon. It will investigate the usefulness of developing MG under the prevailing situation of existing private power supply service providers and in light of the developed national energy policy that supports renewable energy development. A case study on a distribution feeder in a rural area will be analyzed using HOMER software to demonstrate the usefulness of introducing photovoltaic (PV) arrays along the existing diesel generators for all the stakeholders; namely, the developers, the customers, the utility and the community at large. Policy recommendations regarding MG development in Lebanon will be presented on the basis of the accumulated experience in private generation and the privatization and public-private partnership laws.

Keywords: decentralized systems, distributed generation, microgrids, renewable energy

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Authors: Tarannom Parhizkar, Halle Bakhteeyar

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This paper presents a feasibility assessment of an expansion system applied to the natural gas transportation process in Iran. Power can be generated from the pressure energy of natural gas along its supply chain at various pressure reduction points by using turboexpanders. This technology is being applied in different countries around the world. The system consists of a turboexpander reducing the natural gas pressure and providing mechanical energy to drive electric generator. Moreover, gas pre-heating, required to prevent hydrate formation, is performed upstream of expansion stage using burner. The city gate station (CGS) has a nominal flow rate in range of 45000 to 270000 cubic meters per hour and a pressure reduction from maximum 62 bar at the upstream to 6 bar. Due to variable feed pressure and temperature in this station sensitivity analysis of generated electricity and required heat is performed. Results show that plant gain is more sensible to pressure variation than temperature changes. Furthermore, using turboexpander to reduce the pressure result in an electrical generation of 2757 to 17574 kW with the value of approximately 4 million US$ per year. Moreover, the required heat range to prevent a hydrate formation is almost 2189 to 14157 kW. To provide this heat, a burner is used with a maximum annual cost of 268,640 $ burner fuel. Therefore, the actual annual benefit of proposed plant modification is approximately over 6,5 million US$.

Keywords: feasibility study, simulation, turboexpander, feed characteristic

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Authors: Jonathan Iworiso

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Forecasting the equity premium out-of-sample is a major concern to researchers in finance and emerging markets. The quest for a superior model that can forecast the equity premium with significant economic gains has resulted in several controversies on the choice of variables and suitable techniques among scholars. This research focuses mainly on the application of Regression Training (RT) techniques to forecast monthly equity premium out-of-sample recursively with an expanding window method. A broad category of sophisticated regression models involving model complexity was employed. The RT models include Ridge, Forward-Backward (FOBA) Ridge, Least Absolute Shrinkage and Selection Operator (LASSO), Relaxed LASSO, Elastic Net, and Least Angle Regression were trained and used to forecast the equity premium out-of-sample. In this study, the empirical investigation of the RT models demonstrates significant evidence of equity premium predictability both statistically and economically relative to the benchmark historical average, delivering significant utility gains. They seek to provide meaningful economic information on mean-variance portfolio investment for investors who are timing the market to earn future gains at minimal risk. Thus, the forecasting models appeared to guarantee an investor in a market setting who optimally reallocates a monthly portfolio between equities and risk-free treasury bills using equity premium forecasts at minimal risk.

Keywords: regression training, out-of-sample forecasts, expanding window, statistical predictability, economic significance, utility gains

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Authors: Yendo Hu, Xu-Yu Wu, Dylan Oh

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GPS-Denied drones open the possibility of indoor applications, including dynamic arial surveillance, inspection, safety enforcement, and discovery. Indoor swarming further enhances these applications in accuracy, robustness, operational time, and coverage. For micro-drones, power management becomes a critical issue, given the battery payload restriction. This paper proposes an application enabling battery replacement solution that extends the micro-drone active phase without human intervention. First, a framework to quantify the effectiveness of a power management solution for a drone fleet is proposed. The operation-to-non-operation ratio, ONR, gives one a quantitative benchmark to measure the effectiveness of a power management solution. Second, a survey was carried out to evaluate the ONR performance for the various solutions. Third, through analysis, this paper proposes a solution tailored to the indoor micro-drone, suitable for swarming applications. The proposed automated battery replacement solution, along with a modified micro-drone architecture, was implemented along with the associated micro-drone. Fourth, the system was tested and compared with the various solutions within the industry. Results show that the proposed solution achieves an ONR value of 31, which is a 1-fold improvement of the best alternative option. The cost analysis shows a manufacturing cost of $25, which makes this approach viable for cost-sensitive markets (e.g., consumer). Further challenges remain in the area of drone design for automated battery replacement, landing pad/drone production, high-precision landing control, and ONR improvements.

Keywords: micro-drone, battery swap, battery replacement, battery recharge, landing pad, power management

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Authors: Wafa Ghonaim

Abstract:

Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Imkongtenla Pongen

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Self Help Groups (SGHs) are socio-commercial instruments in addressing urban poverty and strengthening livelihoods. Being a member of Self Help Group helped in mutual exchanges of ideas, develop risk taking behaviour, learns flexibility in planning of a programme, and interpersonal communication within the group. In the present study, an attempt has been made to examine the functions, characteristics and practices of Self Help Groups and its impact on sustainable development among the Ao Nagas of Alongkima, Nagaland, NorthEast India. They are a tribal group and racially belong to the Mongoloid stock and linguistically to the Tibeto-Burman group. They follow endogamous, patriarchal, and patrilineal system. Major characteristics of Self Help groups in this study are found to be team spirit and group cohesiveness. Such groups are found to be geared towards a number of self-sufficiency based business ventures. The problems faced in normal functioning of the groups are unpunctuality and the inability to attend a meeting by all the members .Participation in such groups has increased women’s influence over the economic resources and decision making in the household, improved self-confidence and living standard, capacity building, self- dependent and self-reliant with no educational and entrepreneurial background, generate savings and hone their skills as motivators and leaders. All these has enhanced her status in every sphere of life in par with the opposite gender. In a nutshell, we can say that what she cannot achieve as an individual, she can achieve as a member of a Self Help Group. Hence, we should try to develop mechanisms to guarantee the sustainability of Self Help Groups which depends on the way they can deal with both internal and external conflicts like globalization and competition from new markets.

Keywords: Ao nagas, microfinance, self help group, women empowerment

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Authors: Sormeh Sharifi, Wasim Saman, Alemu Alemu, David Whaley

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Although various energy rating schemes and compulsory building codes are using around the world, there are increasing reports on overheating in energy efficient dwellings. Given that the cooling demand of buildings is rising globally because of the climate change, it is more likely that the overheating issue will be observed more. This paper studied the summer indoor temperature in eight air-conditioned multi-level houses in Adelaide which have complied with the Australian Nationwide Houses Energy Rating Scheme (NatHERS) minimum energy performance of 7.5 stars. Through monitored temperature, this study explores that overheating is experienced on 75.5% of top floors during cooling periods while the air-conditioners were running. This paper found that the energy efficiency regulations have significantly improved thermal comfort in low floors, but not on top floors, and the energy-efficient house is not necessarily adapted with the air temperature fluctuations particularly on top floors. Based on the results, this study suggests that the envelope of top floors for multi-level houses in South Australian context need new criteria to make the top floor more heat resistance in order to: preventing the overheating, reducing the summer pick electricity demand and providing thermal comfort. Some methods are used to improve the envelope of the eight case studies. The results demonstrate that improving roofs was the most effective part of the top floors envelope in terms of reducing the overheating.

Keywords: building code, climate change, energy-efficient building, energy rating, overheating, thermal comfort

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Authors: Himanshu Dehra

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An experimental study was conducted for ascertaining electrical and thermal characteristics of a pair of photovoltaic (PV) modules integrated with solar wall of an outdoor room. A pre-fabricated outdoor room was setup for conducting outdoor experiments on a PV solar wall with passive and active ventilation through the outdoor room. The selective operating conditions for glass coated PV modules were utilized for establishing their electrical and thermal characteristics. The PV solar wall was made up of glass coated PV modules, a ventilated air column, and an insulating layer of polystyrene filled plywood board. The measurements collected were currents, voltages, electric power, air velocities, temperatures, solar intensities, and thermal time constant. The results have demonstrated that: i) a PV solar wall installed on a wooden frame was of more heat generating capacity in comparison to a window glass or a standalone PV module; ii) generation of electric power was affected with operation of vertical PV solar wall; iii) electrical and thermal characteristics were not significantly affected by heat and thermal storage losses; and iv) combined heat and electricity generation were function of volume of thermal and electrical resistances developed across PV solar wall. Finally, a comparison of temperature plots of passive and active ventilation envisaged that fan pressure was necessary to avoid overheating of the PV solar wall. The active ventilation was necessary to avoid over-heating of the PV solar wall and to maintain adequate ventilation of room under mild climate conditions.

Keywords: photovoltaic solar wall, solar energy, passive ventilation, active ventilation

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Authors: N. J. M. Yusof, T. Sabir, J. McLoughlin

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Garment manufacturing industry involves sequential processes that are subjected to uncontrollable variations. The industry depends on the skill of labour in handling the varieties of fabrics and accessories, machines, and also a complicated sewing operation. Due to these reasons, garment manufacturers created systems to monitor and control the product’s quality regularly by conducting quality approaches to minimize variation. The aims of this research were to ascertain the quality approaches deployed by Malaysian garment manufacturers in three key areas-quality systems and tools; quality control and types of inspection; sampling procedures chosen for garment inspection. The focus of this research also aimed to distinguish quality approaches used by companies that supplied the finished garments to both domestic and international markets. The feedback from each of company’s representatives was obtained using the online survey, which comprised of five sections and 44 questions on the organizational profile and quality approaches used in the garment industry. The results revealed that almost all companies had established their own mechanism of process control by conducting a series of quality inspection for daily production either it was formally been set up or vice versa. Quality inspection was the predominant quality control activity in the garment manufacturing and the level of complexity of these activities was substantially dictated by the customers. AQL-based sampling was utilized by companies dealing with the export market, whilst almost all the companies that only concentrated on the domestic market were comfortable using their own sampling procedures for garment inspection. This research provides an insight into the implementation of quality approaches that were perceived as important and useful in the garment manufacturing sector, which is truly labour-intensive.

Keywords: garment manufacturing, quality approaches, quality control, inspection, Acceptance Quality Limit (AQL), sampling

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Authors: Olivia Rybak-Karkosz

Abstract:

This paper aims to present the results of scientific research on methods of forging art prints and their elements, such as signature or provenance and forensic science methods that might be used to verify their authenticity. In the last decades, the art market has observed significant interest in purchasing prints. They are considered an economical alternative to paintings and a considerable investment. However, the authenticity of an art print is difficult to establish as similar visual effects might be achieved with drawings or xerox. The latter is easy to make using a home printer. They are then offered on flea markets or internet auctions as genuine prints. This probable ease of forgery and, at the same time, the difficulty of distinguishing art print techniques were the main reasons why this research was undertaken. A lack of scientific methods dedicated to disclosing a forgery encouraged the author to verify the possibility of using forensic science's methods known and used in other fields of expertise. This research methodology consisted of completing representative forgery samples collected in selected museums based in Poland and a few in Germany and Austria. That allowed the author to present a typology of methods used to forge art prints. Given that one of the most famous graphic design examples is bills and securities, it seems only appropriate to propose in print verification the usage of methods of detecting counterfeit currency. These methods contain an examination of ink, paper, and watermarks. On prints, additionally, signatures and imprints of stamps, etc., are forged as well. So the examination should be completed with handwriting examination and forensic sphragistics. The paper contains a stipulation to conduct a complex analysis of authenticity with the participation of an art restorer, art historian, and forensic expert as head of this team.

Keywords: art forgery, examination of an artwork, handwriting analysis, prints

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Authors: Maha Zouaoui Khalifa, Hakim Ben Othman, Hussaney Khaled

Abstract:

Prior empirical studies have investigated the economic consequences of accounting conservatism by examining its impact on the cost of equity capital (COEC). However, findings are not conclusive. We assume that inconsistent results of such association may be attributed to the regression models used in data analysis. To address this issue, we re-examine the effect of different dimension of accounting conservatism: unconditional conservatism (U_CONS) and conditional conservatism (C_CONS) on the COEC for a sample of listed firms from Middle Eastern and North Africa (MENA) countries, applying quantile regression (QR) approach developed by Koenker and Basset (1978). While classical ordinary least square (OLS) method is widely used in empirical accounting research, however it may produce inefficient and bias estimates in the case of departures from normality or long tail error distribution. QR method is more powerful than OLS to handle this kind of problem. It allows the coefficient on the independent variables to shift across the distribution of the dependent variable whereas OLS method only estimates the conditional mean effects of a response variable. We find as predicted that U_CONS has a significant positive effect on the COEC however, C_CONS has a negative impact. Findings suggest also that the effect of the two dimensions of accounting conservatism differs considerably across COEC quantiles. Comparing results from QR method with those of OLS, this study throws more lights on the association between accounting conservatism and COEC.

Keywords: unconditional conservatism, conditional conservatism, cost of equity capital, OLS, quantile regression, emerging markets, MENA countries

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Authors: Mizuno Norihito

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This study attempts to examine Japanese views of Thailand primarily in the 1920s and 1930s through the analysis of documents published by the Office of Governor-General of Taiwan (Taiwan Sotokufu) and its affiliated organizations. Japan regarded Taiwan, under its control since 1895, as a foothold to making inroads into the South, and The governor-general office was active in investigations and intelligence gathering in Southeast Asia, as well as the southern part of the Chinese continent. Documents published by the governor-general office and its related organizations, especially those in a couple of decades following the First World War, reveal that the Japanese paid attention to the presence of the-Thai-Chinese during the time period. It would not be surprising that the desiring to penetrating into the Thai market, as well as the markets of the rest of Southeast Asia, the Japanese could not ignore the presence of the Thai-Chinese because of their local economic influences. The increased Japanese concern about the Thai-Chinese toward the end of the 1920s and throughout the 1930s was, moreover, intertwined with the increased tension between China and Japan. In other words, Thailand, as well as the rest of Southeast Asia, became another arena of Sino-Japanese confrontation. The rise of nationalism against Japan in China infected the Thai-Chinese communities and threatened Japanese economic activities in the country. However, the Japanese simultaneously found out that Thai-Chinese concert with anti-Japanese in China did not necessarily match their business interests and that the Thai government’s efforts to assimilate the Thai-Chinese into the Thais society and strategic approach to Japan in the late 1930s hampered their anti-Japanese actions.

Keywords: Japanese-Thai Relations, Sino-Japanese relations, Thai Chinese, Overseas Japanese

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Authors: Lissette Alejandra Lara, Mario Gomez, Jose Carlos Rodriguez

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ransnational corporations (TNCs) as units in which it is possible technology and knowledge transfer across borders and the potential for generating innovation and contributing in economic development both in home and host countries have been widely acknowledged in the foreign direct investment (FDI) literature. Particularly, the accelerated expansion of emerging countries TNCs in the last decades has guided an uprising research stream that measure the presence of reverse technology transfer, defined as the extent to which emerging countries’ TNCs use outward FDI in a host country through certain mechanisms to absorb and transfer knowledge thus improving its technological capabilities in the home country. The objective of this paper is to test empirically the presence of reverse technology transfer and its impact on the innovation capabilities in Mexican transnational corporations (MXTNCs) as a part of the emerging countries TNCs that have successfully entered to industrialized markets. Using a panel dataset of 22 MXTNCs over the period 1994-2015, the results of the econometric model demonstrate that the amount of Mexican outward FDI and the research and development (R&D) expenditure in host developed countries had a positive impact on the innovation capabilities at the firm and industry level. There is also evidence that management of acquired brands and the organizational structure of Mexican subsidiaries improved these capabilities. Implications for internationalization strategies of emerging countries corporations and future research guidelines are discussed.

Keywords: emerging countries, foreign direct investment, innovation capabilities, Mexican transnational corporations, reverse technology transfer

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Authors: Lucy Patricia Onundo, Wilfred Njoroge Mwema

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The tidal power potential available for electricity generation from Mombasa and Lamu sites in Kenya will be examined. Several African countries in the Western Indian Ocean endure insufficiencies in the power sector, including both generation and distribution. One important step towards increasing energy security and availability is to intensify the use of renewable energy sources. The access to cost-efficient hydropower is low in Mombasa and Lamu hence Ocean energy will play an important role. Global-Level resource assessments and oceanographic literature and data have been compiled in an analysis between technology-specific requirements for ocean energy technologies (salinity, tide, tidal current, wave, Ocean thermal energy conversion, wind and solar) and the physical resources in Lamu and Mombasa. The potential for tide and tidal current power is more restricted but may be of interest at some locations. The theoretical maximum power produced over a tidal cycle is determined by the product of the forcing tide and the undisturbed volumetric flow-rate. The extraction of the maximum power reduces the flow-rate, but a significant portion of the maximum power can be extracted with little change to the tidal dynamics. Two-dimensional finite-element, numerical simulations designed and developed agree with the theory. Temporal variations in resource intensity, as well as the differences between small-scale and large-scale applications, are considered.

Keywords: energy assessment, marine tidal power, renewable energy, tidal dynamics

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Authors: J. Gochermann

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Due to complex markets and products, and increasing need to innovate, cooperation between small and medium size enterprises arose during the last decades, which are not prior driven by process optimization or sales enhancement. Especially small and medium sized enterprises (SME) collaborate increasingly in innovation and knowledge networks to enhance their knowledge and innovation potential, and to find strategic partners for product and market development. These networks are characterized by dual objectives, the superordinate goal of the total network, and the specific objectives of the network members, which can cause target conflicts. Moreover, most SMEs do not have structured innovation processes and they are not accustomed to collaborate in complex innovation projects in an open network structure. On the other hand, SMEs have suitable characteristics for promising networking. They are flexible and spontaneous, they have flat hierarchies, and the acting people are not anonymous. These characteristics indeed distinguish them from bigger concerns. Investigation of German SME networks have been done to identify success factors for SME innovation networks. The fundamental network principles, donation-return and confidence, could be confirmed and identified as basic success factors. Further factors are voluntariness, adequate number of network members, quality of communication, neutrality and competence of the network management, as well as reliability and obligingness of the network services. Innovation and knowledge networks with an appreciable number of members from science and technology institutions need also active sense-making to bring different disciplines into successful collaboration. It has also been investigated, whether and how the involvement in an innovation network impacts the innovation structure and culture inside the member companies. The degree of reaction grows with time and intensity of commitment.

Keywords: innovation and knowledge networks, SME, success factors, innovation structure and culture

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Authors: Elison Eduardo Jardim Bierhals, Claudineia Brazil, Francisco Pereira, Elton Rossini

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The use of alternative energy sources to meet energy demand reduces environmental damage. To diversify an energy matrix and to minimize global warming, a solar energy is gaining space, being an important source of renewable energy, and its potential depends on the climatic conditions of the region. Brazil presents a great solar potential for a generation of electric energy, so the knowledge of solar radiation and its characteristics are fundamental for the study of energy use. Due to the above reasons, this article aims to verify the climatic variability corresponding to the variations in solar radiation anomalies, in the face of climate change scenarios. The data used in this research are part of the Intercomparison of Interconnected Models, Phase 5 (CMIP5), which contributed to the preparation of the fifth IPCC-AR5 report. The solar radiation data were extracted from The Australian Community Climate and Earth System Simulator (ACCESS) model using the RCP 4.5 and RCP 8.5 scenarios that represent an intermediate structure and a pessimistic framework, the latter being the most worrisome in all cases. In order to allow the use of solar radiation as a source of energy in a given location and/or region, it is important, first, to determine its availability, thus justifying the importance of the study. The results pointed out, for the 75-year period (2026-2100), based on a pessimistic scenario, indicate a drop in solar radiation of the approximately 12% in the eastern region of Rio Grande do Sul. Factors that influence the pessimistic prospects of this scenario should be better observed by the responsible authorities, since they can affect the possibility to produce electricity from solar radiation.

Keywords: climate change, energy, IPCC, solar radiation

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Authors: Khalifa Maha, Ben Othman Hakim, Khaled Hussainey

Abstract:

Prior empirical studies have investigated the economic consequences of accounting conservatism by examining its impact on the cost of equity capital (COEC). However, findings are not conclusive. We assume that inconsistent results of such association may be attributed to the regression models used in data analysis. To address this issue, we re-examine the effect of different dimension of accounting conservatism: unconditional conservatism (U_CONS) and conditional conservatism (C_CONS) on the COEC for a sample of listed firms from Middle Eastern and North Africa (MENA) countries, applying quantile regression (QR) approach developed by Koenker and Basset (1978). While classical ordinary least square (OLS) method is widely used in empirical accounting research, however it may produce inefficient and bias estimates in the case of departures from normality or long tail error distribution. QR method is more powerful than OLS to handle this kind of problem. It allows the coefficient on the independent variables to shift across the distribution of the dependent variable whereas OLS method only estimates the conditional mean effects of a response variable. We find as predicted that U_CONS has a significant positive effect on the COEC however, C_CONS has a negative impact. Findings suggest also that the effect of the two dimensions of accounting conservatism differs considerably across COEC quantiles. Comparing results from QR method with those of OLS, this study throws more lights on the association between accounting conservatism and COEC.

Keywords: unconditional conservatism, conditional conservatism, cost of equity capital, OLS, quantile regression, emerging markets, MENA countries

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Authors: Edward Chamisa, Colin C. Smith, Hamutyinei H. Pamburai, Abdul C. Abdulla

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South Africa (SA) adopted International Financial Reporting Standards (IFRS) for listed firms effective 1 January 2005. However, it was not until 2011 that substantial financial reporting enforcement changes were introduced, which were meant to ensure compliance with IFRS. This innovative setting allows us to examine the value relevance of accounting amounts during the (1) pre-IFRS adoption period (2002-2004); (2) post-IFRS adoption, but pre-enforcement changes period (2006-2010); and (3) post-enforcement changes period (2011-2012). The results show that accounting amounts were most value relevant in the post-enforcement changes period (R2, 75.5%) compared to both the pre-IFRS adoption period (adjusted R2 is 24.3%) and the period after IFRS adoption but before enforcement changes (adjusted R2 is 37.5%). Also, during the 2008 financial crisis, the equity book value per share was significantly value relevant (at 1%) but not earnings per share, whereas before the crisis, the opposite was true. We make two important contributions to the literature. First, we identify SA as an innovative setting that allows researchers to examine separately the effects of IFRS adoption and enforcement changes on capital markets and accounting quality. This is a departure from prior studies that are dominated by the European Union setting, where IFRS adoption occurred contemporaneously with enforcement and other regulatory changes. Second, we provide preliminary findings which suggest that while the adoption of IFRS seems to have improved the financial reporting quality of accounting amounts of SA listed firms, its impact appears to be limited unless combined with effective enforcement.

Keywords: international financial reporting standards (ifrs), ifrs adoption, financial reporting enforcement, value relevance, price model, equity book value, earnings per share

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Authors: Dharmit Viroja, Prerakkumar Shah, Rajanikant Gajera, Ruchit Shah

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With present scenario of aging oil and gas fields with high water cuts, volatile oil prices and increasing greenhouse gas emission, the need for alleviating such issues has necessitated for oil and gas industry to make the maximum out of available assets, infrastructure and reserves in mother Earth. Study undertaken emphasizes on utilizing Geothermal Energy under specific reservoir conditions for Enhanced oil Recovery (EOR) to boost up production. Allied benefits of this process include mitigation of electricity problem in remote fields and controlled CO-emission. Utilization of this energy for EOR and increasing economic life of field could surely be rewarding. A new way to value oil lands would be considered if geothermal co-production is integrated in the field development program. Temperature profile of co-produced fluid across its journey is a pivotal issue which has been studied. Geo pressured reservoirs resulting from trapped brine under an impermeable bed is also a frontier for exploitation. Hot geothermal fluid is a by-product of large number of oil and gas wells, historically this hot water has been seen as an inconvenience; however, it can be looked at as a useful resource. The production of hot fluids from abandoned and co-production of hot fluids from producing wells has potential to prolong life of oil and gas fields. The study encompasses various factors which are required for use of this technology and application of this process across various phases of oil and gas value chain. Interdisciplinary approach in oil and gas value chain has shown potential for economic production of estimated oil and gas reserves.

Keywords: enhanced oil recovery, geo-pressured reservoirs, geothermal energy, oil and gas value chain

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Authors: K. Majumdar, S. Datta

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Electricity is recognized as fundamental to industrialization and improving the quality of life of the people. Harnessing the immense untapped hydropower potential in Tripura region opens avenues for growth and provides an opportunity to improve the well-being of the people of the region, while making substantial contribution to the national economy. Gumti hydro power plant generates power to mitigate the crisis of power in Tripura, India. The first unit of hydro power plant (5 MW) was commissioned in June 1976 & another two units of 5 MW was commissioned simultaneously. But out of 15 MW capacity at present only 8-9 MW power is produced from Gumti hydro power plant during rainy season. But during lean season the production reduces to 0.5 MW due to shortage of water. Now, it is essential to implement some mitigation measures so that the further atrocities can be prevented and originality will be possible to restore. The decision making ability of the Analytic Hierarchy Process (AHP) and Concordance Analysis Techniques (CAT) are utilized to identify the better decision or solution to the present problem. Some related attributes are identified by the method of surveying within the experts and the available reports and literatures. Similar criteria are removed and ultimately seven relevant ones are identified. All the attributes are compared with each other and rated accordingly to their importance over the other with the help of Pair wise Comparison Matrix. In the present investigation different mitigation measures are identified and compared to find the best suitable alternative which can solve the present uncertainties involving the existence of the Gumti Hydro Power Plant.

Keywords: concordance analysis techniques, analytic hierarchy process, hydro power

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Authors: Vidyarini Dwita, Rebecca Fanany

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This study will discuss the growth of the market for smartphone technology in Indonesia. This country, with the world’s fourth largest population, has a reputation as the social media capital of the world, and this reputation is largely justified. The penetration of social media is high in Indonesia which has one of the largest global markets. Most Indonesian users of Facebook, Twitter and other social media platforms access the sites from their mobile phones. Indonesia is expected to continue to be a major market for digital mobile devices, such as smartphone and tablets that can access the internet. The aim of this study to describe the way responses of Indonesian consumers to smartphone advertising using English and Indonesian will impact on their perceptions of the prestige and product image of the advertised items and thus influence consumer intention to purchase the item. Advertising for smartphones and similar products is intense and dynamic and often draws on the social attitudes of Indonesians with respect to linguistic and cultural content and especially appeals to their desire to be part of global mainstream culture. The study uses a qualitative method based on in-depth interviews with 30 participants. Content analysis is employed to analyse the responses of Indonesian consumers to smartphone advertising that uses English and Indonesian text. Its findings indicate that consumers’ impressions of English and Indonesian slogans influence their attitudes toward smartphones, suggesting that linguistic context plays a role in influencing consumer purchases.

Keywords: consumer purchases, marketing communication, product image, smartphone advertising, sociolinguistic

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Authors: Aderonke Oluseun Akinwumi, Olusola A. Komolaf

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This paper gives information about the wide array of challenges facing both the electric utilities and consumers in the distribution system in developing countries, using Obafemi Awolowo University, Ile-Ife Nigeria as a case study. It also proffers cost-effective solution through remote monitoring, diagnostic and operation of distribution networks without compromising the system reliability. As utilities move from manned and unintelligent networks to completely unmanned smart grids, switching activities at substations and feeders will be managed and controlled remotely by dedicated systems hence this design. The Substation Remote Diagnostic and Operation Solution (sRDOs) would remotely monitor the load on Medium Voltage (MV) and Low Voltage (LV) feeders as well as distribution transformers and allow the utility disconnect non-paying customers with absolutely no extra resource deployment and without interrupting supply to paying customers. The aftermath of the implementation of this design improved the lifetime of key distribution infrastructure by automatically isolating feeders during overload conditions and more importantly erring consumers. This increased the ratio of revenue generated on electricity bills to total network load.

Keywords: electric utility, consumers, remote monitoring, diagnostic, system reliability, manned and unintelligent networks, unmanned smart grids, switching activities, medium voltage, low voltage, distribution transformer

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Authors: Lourdes Gutierrez, Eric Williams

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Post-occupancy research shows that only 11% of commercial buildings met the ASHRAE thermal comfort standard. Many buildings are too warm in winter and/or too cool in summer, wasting energy and not providing comfort. In this paper, potential energy savings in U.S. offices and restaurants if thermostat settings are calculated according the updated ASHRAE 55-2013 comfort model that accounts for outdoor temperature and clothing choice for different climate zones. eQUEST building models are calibrated to reproduce aggregate energy consumption as reported in the U.S. Commercial Building Energy Consumption Survey. Changes in energy consumption due to the new settings are analyzed for 14 cities in different climate zones and then the results are extrapolated to estimate potential national savings. It is found that, depending on the climate zone, each degree increase in the summer saves 0.6 to 1.0% of total building electricity consumption. Each degree the winter setting is lowered saves 1.2% to 8.7% of total building natural gas consumption. With new thermostat settings, national savings are 2.5% of the total consumed in all office buildings and restaurants, summing up to national savings of 69.6 million GJ annually, comparable to all 2015 total solar PV generation in US. The goals of improved comfort and energy/economic savings are thus co-aligned, raising the importance of thermostat management as an energy efficiency strategy.

Keywords: energy savings quantifications, commercial building stocks, dynamic clothing insulation model, operation-focused interventions, energy management, thermal comfort, thermostat settings

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Authors: A. V. Chandewar, Sanjay Bais

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Backgound: In India, drugs of herbal origin have been used in traditional systems of medicines such as Unani and Ayurveda since ancient times. WHO limit for Escherichia coli is 101/gm cfu, for Staphylococus aureus 105/gm cfu, and for Pseudomonas aeruginosa 103/gm cfu and for Salmonella species nil cfu. WHO mentions maximum permissible limits in raw materials only for arsenic, cadmium, and lead, which amount to 1.0, 0.3, and 10 ppm, respectively. Aim: The main purpose of the investigation was to document evidence for the users, and practitioners of marketed haematinic herbal formulations. In the present study haematinic herbal formulations marketed in Yavatmal India were determined for the presence of microbial and heavy metal content. Method: The investigations were performed by using specific medias and atomic absorption spectrometry. Result: The present work indicates the presence of heavy metal contents in herbal formulations selected for study. It was found that arsenic content in formulations was below the permissible limit in all formulations. The cadmium and lead content in six formulations were above the permissible limits. Such formulations are injurious to health of patient if consumed regularly. The specific medias were used to determining the presence of Escherichia coli 4 samples, Staphylococcus aureus 3 samples, and P. aeruginosa 4 samples. The data indicated suggest that there is requirement of in process improvement to provide better quality for consumer health in order to be competitive in international markets. Summary/Conclusion: The presence of microbial and heavy metal content above WHO limits indicates that the GMP was not followed during manufacturing of herbal formulations marketed in India.

Keywords: toxicological standardization, heavy metals, microbial contamination, haematinic herbal formulations

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Authors: Erich Gomes Schaitza, Antônio Francisco Savi, Glaucia Aparecida Prates

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The penetration of renewable energy into the electricity supply in Brazil is high, one of the highest in the World. Centralized hydroelectric generation is the main source of energy, followed by biomass and wind. Surprisingly, mini and micro-generation are negligible, with less than 2,000 connections to the national grid. In 2015, a new regulatory framework was put in place to change this situation. In the agricultural sector, the framework was complemented by the offer of low interest rate loans to in-farm renewable generation. Brazil proposed to more than double its area of planted forests as part of its INDC- Intended Nationally Determined Contributions to the UNFCCC-U.N. Framework Convention on Climate Change (UNFCCC). This is an ambitious target which will be achieved only if forests are attractive to farmers. Therefore, this paper analyses whether planting forests for in-farm energy generation with a with a woodchip gasifier is economically viable for microgeneration under the new framework and at if they could be an economic driver for forest plantation. At first, a static case was analyzed with data from Eucalyptus plantations in five farms. Then, a broader analysis developed with the use of Monte Carlo technique. Planting short rotation forests to generate energy could be a viable alternative and the low interest loans contribute to that. There are some barriers to such systems such as the inexistence of a mature market for small scale equipment and of a reference network of good practices and examples.

Keywords: biomass, distribuited generation, small-scale, Monte Carlo

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Authors: Elaine Wong Yee-Sing, Liaw Wee Tong

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Rapid transformations in demographic and socioeconomic shifts are leading to a growing global demand for health and beauty products and services that demands holistic concepts of well-being. In addition, technological breakthroughs such as internet of things make it convenient and offer innovative solutions for well-being and engage consumers to track their own health conditions and fitness goals. This 'new health economy' encompasses three key concepts: well-being, well-conditioned and well-shaped; which are shaped by wellness segments and goals that influence purchasing decisions of consumers. The research protocol aims to examine the feasibility, challenges, and capabilities in provision for each customer with an ecosystem, or platform, that organizes data and insights to create an individual health and fitness, nutrition, and beauty profile. Convenience sampling of 100 consumers residing in private housing within five major districts in Singapore will be selected to participate in the study. Statistical Package for Social Science 25 will be used to conduct descriptive statistics for quantitative data while qualitative data results using focus interviews, will be translated and transcribed to identify improvements in provision of these services. Rising income in emerging global markets is fuelling the demand for these general wellbeing products and services. Combined with technological advances, it is imperative to understand how these highly personalized services with integrated technology can be designed better to support consumer preferences; provide greater flexibility and high-quality service, and generate better health awareness among consumers.

Keywords: beauty, consumers, health, technology, wellness

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Authors: Hadi Mousavi, Majid Davoudi Nasr

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Executives can maximize profits by recognizing the factors that affect investment and using them to obtain the optimal level of investment. Inefficient markets have shortcomings that can impact the optimal level of investment, leading to the process of over-investment or under-investment. In the present study, the relationship between the overconfidence of senior managers and abnormal cash fluctuations with respect to financial flexibility in companies listed in the Tehran stock exchange from 2009 to 2013 were evaluated. In this study, the sample consists of 84 companies selected by a systematic elimination method and 420 year-companies in total. In this research, EVIEWS software was used to test the research hypotheses by linear regression and correlation coefficient and after designing and testing the research hypothesis. After designing and testing research hypotheses that have been used to each hypothesis, it was concluded that there was a significant relationship between the overconfidence of senior managers and abnormal cash fluctuations, and this relationship was not significant at any level of financial flexibility. Moreover, the findings of the research showed that there was a significant relationship between senior manager’s overconfidence and positive abnormal cash flow fluctuations in firms, and this relationship is significant only at the level of companies with high financial flexibility. Finally, the results indicate that there is no significant relationship between senior managers 'overconfidence and negative cash flow abnormalities, and the relationship between senior managers' overconfidence and negative cash flow fluctuations at the level of companies with high financial flexibility was confirmed.

Keywords: abnormal cash fluctuations, overconfidence of senior managers, financial flexibility, accounting

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Authors: Felipe Bedoya Maya, Agustina Calatayud, Vileydy Gonzalez Mejia

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Encompassing inventory, warehousing, and transportation management, logistics is a crucial predictor of firm performance. This has been extensively proven by extant literature in business and operations management. Logistics is also a fundamental determinant of a country's ability to access international markets. Available studies in international and transport economics have shown that limited transport infrastructure and underperforming transport services can severely affect international competitiveness. However, the evidence lacks the overall impact of logistics performance-encompassing all inventory, warehousing, and transport components- on global trade. In order to fill this knowledge gap, the paper uses a gravitational trade model with 155 countries from all geographical regions between 2007 and 2018. Data on logistics performance is obtained from the World Bank's Logistics Performance Index (LPI). First, the relationship between logistics performance and a country’s total trade is estimated, followed by a breakdown by the economic sector. Then, the analysis is disaggregated according to the level of technological intensity of traded goods. Finally, after evaluating the intensive margin of trade, the relevance of logistics infrastructure and services for the extensive trade margin is assessed. Results suggest that: (i) improvements in both logistics infrastructure and services are associated with export growth; (ii) manufactured goods can significantly benefit from these improvements, especially when both exporting and importing countries increase their logistics performance; (iii) the quality of logistics infrastructure and services becomes more important as traded goods are technology-intensive; and (iv) improving the exporting country's logistics performance is essential in the intensive margin of trade while enhancing the importing country's logistics performance is more relevant in the extensive margin.

Keywords: gravity models, infrastructure, international trade, logistics

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Authors: Majid AghaAlikhani, Mostafa Hojati, Saeid Satari-Yuzbashkandi

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This paper studies energy use patterns and relationship between energy input and yield for soybean (Glycine max (L.) Merrill) in Mazandaran province of Iran. In this study, data were collected by administering a questionnaire in face-to-face interviews. Results revealed that the highest share of energy consumption belongs to chemical fertilizers (29.29%) followed by diesel (23.42%) and electricity (22.80%). Our investigations showed that a total energy input of 23404.1 MJ.ha-1 was consumed for soybean production. The energy productivity, specific energy, and net energy values were estimated as 0.12 kg MJ-1, 8.03 MJ kg-1, and 49412.71 MJ.ha-1, respectively. The ratio of energy outputs to energy inputs was 3.11. Obtained results indicated that direct, indirect, renewable and non-renewable energies were (56.83%), (43.17%), (15.78%) and (84.22%), respectively. Three econometric models were also developed to estimate the impact of energy inputs on yield. The results of econometric models revealed that impact of chemical, fertilizer, and water on yield were significant at 1% probability level. Also, direct and non-renewable energies were found to be rather high. Cost analysis revealed that total cost of soybean production per ha was around 518.43$. Accordingly, the benefit-cost ratio was estimated as 2.58. The energy use efficiency in soybean production was found as 3.11. This reveals that the inputs used in soybean production are used efficiently. However, due to higher rate of nitrogen fertilizer consumption, sustainable agriculture should be extended and extension staff could be proposed substitution of chemical fertilizer by biological fertilizer or green manure.

Keywords: Cobbe Douglas function, economical analysis, energy efficiency, energy use patterns, soybean

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Authors: Sahabeh Safarpour, Khiruddin Abdullah, Hwee San Lim, Mohsen Dadras

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Air pollution is a growing problem arising from domestic heating, high density of vehicle traffic, electricity production, and expanding commercial and industrial activities, all increasing in parallel with urban population. Monitoring and forecasting of air quality parameters are important due to health impact. One widely available metric of aerosol abundance is the aerosol optical depth (AOD). The AOD is the integrated light extinction coefficient over a vertical atmospheric column of unit cross section, which represents the extent to which the aerosols in that vertical profile prevent the transmission of light by absorption or scattering. Seasonal aerosol optical depth (AOD) values at 550 nm derived from the Moderate Resolution Imaging Spectroradiometer (MODIS) sensor onboard NASA’s Terra satellites, for the 10 years period of 2000-2010 were used to test 7 different spatial interpolation methods in the present study. The accuracy of estimations was assessed through visual analysis as well as independent validation based on basic statistics, such as root mean square error (RMSE) and correlation coefficient. Based on the RMSE and R values of predictions made using measured values from 2000 to 2010, Radial Basis Functions (RBFs) yielded the best results for spring, summer, and winter and ordinary kriging yielded the best results for fall.

Keywords: aerosol optical depth, MODIS, spatial interpolation techniques, Radial Basis Functions

Procedia PDF Downloads 382