Search results for: Kuwait stock exchange (KSE)

Authors: Munezero Vanessa

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A country is considered developed when its socio-economic and development situation is stable. Foreign direct investment is thus considered to be one of the solutions to this stability especially when it is used in development sectors. The present study was meant to understand whether the foreign direct investment stimulates economic growth performance in Rwanda. The foreign direct investments and economic growth (GDP) has been the subject of much debate among economic development researchers, aid donors as well as recipients in general and Rwanda in particular. In spite of this, there are only few empirical studies that investigate the contributions of foreign direct investments to economic growth in Rwanda. This study explores the relationship between foreign direct investments and economic growth in Rwanda using data that spans from 2000 to 2019 and establishing through causal study if changes in one variable cause changes in the other. The results show that foreign direct investments significantly contribute to the current level of economic growth. The findings imply that Rwanda could enhance its economic growth by effectively and strategically strengthening foreign direct investment plans.

Keywords: foreign direct investment (FDI), economic growth, GDP gross domestic product (GDP), inflation, exchange rate

Procedia PDF Downloads 34

Authors: Yessengali Ussenbekov, Valery Terletskiy, Orik Zhanserkenova, Shynar Kasymbekova, Indira Beyshova, Aitkali Imanbayev, Almas Serikov

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Currently, there are 46 hereditary diseases afflicting cattle with known molecular genetic diagnostic methods developed for them. Genetic anomalies frequently occur in the Holstein cattle breeds from American and Canadian bloodlines. The data on the incidence of BLAD, CVM, DUMPS and BC autosomal recessive lethal mutations in pedigree animals are discordant, the detrimental allele incidence rates are high for the Holstein cattle breed, whereas the incidence rates of these mutations are low in some breeds or they are completely absent. Data were obtained on the basis of frozen semen of stud bulls. DNA was extracted from the semen with the DNA-Sorb-B extraction kit. The lethal mutation in the genes CD18, SLC35A3, UMP and ASS of Alatau stud bulls (N=124) was detected by polymerase chain reaction and RFLP analysis. It was established that stud bulls of the local Alatau breed were not carriers of the BLAD, CVM, DUMPS, and BC detrimental mutations. However, with a view to preventing the dissemination of hereditary diseases it is recommended to monitor the pedigree stock using molecular genetic methods.

Keywords: PCR, autosomal recessive point mutation, BLAD, CVM, DUMPS, BC, stud bulls

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Authors: T. Zergoug, S. E. H. Abaidia, A. Nedjar, M. Y. Mokeddem

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Physical properties of uranium di-nitride (UN2) were investigated in detail using first principles calculations based on density functional theory. To treat the strong correlation effects caused by 5f Uranium valence electrons, on-site Coulomb interaction correction via the Hubbard-like term, U (DFT+U) was employed. The UN2 structural, mechanical and thermodynamic properties were calculated within DFT and Various U of DFT+U approach. The Perdew–Burke–Ernzerhof (PBE.5.2) version of the generalized gradient approximation (GGA) is used to describe the exchange-correlation with the projector-augmented wave (PAW) pseudo potentials. A comparative study shows that results are improved by using the Hubbard formalism for a certain U value correction like the structural parameter. For some physical properties the variation versus Hubbard U is strong like Young modulus but for others it is weakly noticeable such as the density of state (DOS) or bulk modulus. We noticed also that up from U=7.5 eV, elastic results become not conform to the cubic cell elastic criteria since the C44 values turn out to be negative.

Keywords: uranium diNitride, UN2, DFT+U, elastic properties

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Authors: Bakhtiar Ul Haq, R. Ahmed, A. Shaari, Mazmira Binti Mohamed, Nisar Ali

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The capability of exploiting the electronic charge and spin properties simultaneously in a single material has made diluted magnetic semiconductors (DMS) remarkable in the field of spintronics. We report the designing of DMS based on zinc-blend ZnO doped with Cr impurity. The full potential linearized augmented plane wave plus local orbital FP-L(APW+lo) method in density functional theory (DFT) has been adapted to carry out these investigations. For treatment of exchange and correlation energy, generalized gradient approximations have been used. Introducing Cr atoms in the matrix of ZnO has induced strong magnetic moment with ferromagnetic ordering at stable ground state. Cr:ZnO was found to favor the short range magnetic interaction that reflect the tendency of Cr clustering. The electronic structure of ZnO is strongly influenced in the presence of Cr impurity atoms where impurity bands appear in the band gap.

Keywords: ZnO, density functional theory, diluted agnetic semiconductors, ferromagnetic materials, FP-L(APW+lo)

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Authors: Weihsuan Lin

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The Swiss Bethlehem Mission Society (BMS) in Taiwan has influenced and made an important contribution to religion and social work in Taidong. This German-speaking Catholic missionary society is located in Taidong, which is the political and economic periphery of Taiwan but is the cultural center of the Chinese and many different Austronesian ethnic groups, including Amis, Paiwan, Puyuma, Yami, Bunun, and Rukai. Through document analysis and fieldwork, this research aims to explore the result of the confrontation, exchange, and innovation between the BMS and other ethnic groups. Further, based upon Michael Foucault’s discussion of two modalities of constructing individuals, namely ‘discipline’ and ‘care of the self,’ this research will analyze the ‘discipline’ and ‘care of the self’ mechanisms of and between BMS Fathers, Brothers, and Church followers at the scale of individuals. At the scale of groups, the ‘autonomy’ and ‘been governed’ of the BMS in relationship to the Catholic Church in Taiwan and the world will also be examined.

Keywords: Bethlehem Mission Society, Religion and Geography, Spirituality, Foucault

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Authors: M. Alkhalidi, S. Neelamani, Z. Al-Zaqah

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This paper investigates the interaction of single and twin offshore rubble mound breakwaters with regular and random water waves through physical modeling to assess their reflection, transmission and energy dissipation characteristics. Various combinations of wave heights and wave periods were utilized in a series of experiments, along with three different water depths. The single and twin permeable breakwater models were both constructed with one layer of rubbles. Both models had the same total volume; however, the single breakwater was of trapezoidal type while the twin breakwaters were of triangular type. Physical modeling experiments were carried out in the wave flume of the coastal engineering laboratory of Kuwait Institute for Scientific Research (KISR). Measurements of the six wave probes which were fixed in the two-dimensional wave flume were collected and used to determine the generated incident wave heights, as well as the reflected and transmitted wave heights resulting from the wave-breakwater interaction. The possible factors affecting the wave attenuation efficiency of the breakwater models are the relative water depth (d/L), wave steepness (H/L), relative wave height ((h-d)/Hi), relative height of the breakwater (h/d), and relative clear spacing between the twin breakwaters (S/h). The results indicated that the single and double breakwaters show different responds to the change in their relative height as well as the relative wave height which demonstrates that the effect of the relative water depth on wave reflection, transmission, and energy dissipation is highly influenced by the change in the relative breakwater height, the relative wave height and the relative breakwater spacing. In general, within the range of the relative water depth tested in this study, and under both regular and random waves, it is found that the single breakwater allows for lower wave transmission and shows higher energy dissipation effect than both of the tested twin breakwaters, and hence has the best overall performance.

Keywords: random waves, regular waves, relative water depth, relative wave height, single breakwater, twin breakwater, wave steepness

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Authors: Francesco Arese Visconti

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The purpose of this paper is to question the methodological challenges that practice-based research on recent Italian migrants in Switzerland can pose. The entire development of the work has moved from the theorization to the production and back in a continuous exchange which is at the base of failures and successful results. The theoretical background leads to reflect on practical solutions to produce photographic portraits in the attempt to depict the cultural identity of a specific population. Thus, a series of key points of this challenging, visual, and intimate journey are discussed and developed. While analyzing, in the first stance, the psychological challenges resulting from the encounter of the photographer, the sitter, and the spectator, the challenges of the representation of a group of people with individual photographic portraits will secondly be highlighted. The paper underlines how previous work can be precursory of subsequent research and why the inclusion of the landscape versus maintaining a neutral background has links with paintings from the Italian Renaissance.

Keywords: photography, migration, Italians, Switzerland

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Authors: Muhammad Khaliqi, Amzul Rifin, Andriyono Kilat Adhi

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The non-tariff policy could make Indonesian shrimp exports decrease in the international market. This research was aimed to analyze factors affecting Indonesia's exports of shrimp and the impact of SPS and TBT policy on Indonesian shrimp. Factors affecting the exports of Indonesian shrimp were estimated using gravity model. The results showed the GDP of exporters and exchange rate, have a negative influence against the export of Indonesia’s shrimp exports. The GDP of the importers and trade cost have a positive influence against the export of shrimp Indonesia while the SPS policy and TBT don’t affect Indonesia's exports of shrimp in the international market.

Keywords: gravity model, international trade, non-tariff measure, sanitary and phytosanitary, shrimp, technical barriers to trade

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Authors: Johannes Atug, Andreas Radke, Mitchell Tseng, Gunther Reinhart

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In modern supply chains, large numbers of SKU (Stock-Keeping-Unit) need to be timely managed, and any delays in noticing disruptions of items often limit the ability to defer the impact on customer order fulfillment. However, in supply chains of IoT-connected enterprises, the ERP (Enterprise-Resource-Planning), the MES (Manufacturing-Execution-System) and the SCADA (Supervisory-Control-and-Data-Acquisition) systems generate large amounts of data, which generally glean much earlier notice of deviations in the business process steps. That is, analyzing these streams of data with process mining techniques allows the monitoring of the supply chain business processes and thus identification of items that deviate from the standard order fulfillment process. In this paper, a framework to enable event-based SCM (Supply-Chain-Management) processes including an overview of core enabling technologies are presented, which is based on the RAMI (Reference-Architecture-Model for Industrie 4.0) architecture. The application of this framework in the industry is presented, and implications for SCM in industry 4.0 and further research are outlined.

Keywords: cyber-physical production systems, event-based monitoring, supply chain management, RAMI (Reference-Architecture-Model for Industrie 4.0)

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Authors: Reinhold Kosfeld, Andreas Gohs

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In the reduction of CO₂ emissions, the transition to environmentally friendly transport modes has a high significance. In Germany, the climate protection programme 2030 includes various measures for promoting electromobility. Although electric cars at present hold a market share of just over one percent, its stock more than doubled in the past two years. Special measures like tax incentives and a buyer’s premium have been put in place to promote the shift towards electric cars and boost their diffusion. Knowledge of the future expansion of electric cars is required for planning purposes and adaptation measures. With a view of these objectives, we particularly investigate the effect of spatial spillovers on forecasting performance. For this purpose, time series econometrics and panel econometric models are designed for pure electric cars and hybrid cars for Germany. Regional forecasting models with spatial interactions are consistently estimated by using spatial econometric techniques. Regional data on the stocks of electric cars and their determinants at the district level (NUTS 3 regions) are available from the Federal Motor Transport Authority (Kraftfahrt-Bundesamt) for the period 2017 - 2019. A comparative examination of aggregated regional and national predictions provides quantitative information on accuracy gains by allowing for spatial spillovers in forecasting electric mobility.

Keywords: electric mobility, forecasting market diffusion, regional panel data model, spatial interaction

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Authors: Maria Cecilia G. Cantos, Lorena W. Rabago, Bartolome T. Tanguilig III

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This paper describes a conducive and structured information exchange environment for the students of the College of Computer Studies in Manuel S. Enverga University Foundation in. The system was developed to help the students to check their academic result, manage profile, make self-enlistment and assist the students to manage their academic status that can be viewed also in mobile phones. Developing class schedules in a traditional way is a long process that involves making many numbers of choices. With Hill Climbing Algorithm, however, the process of class scheduling, particularly with regards to courses to be taken by the student aligned with the curriculum, can perform these processes and end up with an optimum solution. The proponent used Rapid Application Development (RAD) for the system development method. The proponent also used the PHP as the programming language and MySQL as the database.

Keywords: hill climbing algorithm, integrated system, mobile web-based, student information system

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Authors: Mohamed M. Abo Elazm, Ali I. Shehata, Mohamed M. Khairat Dawood

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A computational fluid dynamics (CFD) program FLUENT has been used to predict the fluid flow and heat transfer distribution within concentric heat exchangers. The effect of inlet inclination angle has been investigated with Reynolds number range (3000 – 4000) and Pr=0.71. The heat exchanger is fabricated from copper concentric inner tube with a length of 750 mm. The effects of hot to cold inlet flow rate ratio (MH/MC), Reynolds's number and of inlet inclination angle of 30°, 45°, 60° and 90° are considered. The results showed that the numerical prediction shows a good agreement with experimental measurement. The results present an efficient design of concentric tube heat exchanger to enhance the heat transfer by increasing the swirling effect.

Keywords: heat transfer, swirling effect, CFD, inclination angle, concentric tube heat exchange

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Authors: Arshad Munir, Naseem Akhtar

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The determination of the Sufi is to effort towards unity. His main purpose is to bring humanity, separated as it is into so many different units, closer together in the deeper understanding of life. His mission is to bring about brotherhood among races, nations and faiths and to respect one another's faith, scripture and teacher. Sufi is to confer sympathy on these lives, to impart love, compassion and kindheartedness on all creations. The Sufi message is the resonance of the same Divine message which has always come and will always come to inform humanity. It is the continuation of all the pronounced religions which have come at several times and it is amalgamation of them all, which was the wish of all the prophets. Pakistan, who came into being in the name of Islam unfortunately, have linked with terrorism. It is a disgrace that in contemporary day Pakistan, mullahism and the recent cancer of Talibanisation are gradually eating into what had kept us integral as a society. Terrorism has grown-up to develop a prime safety pressure to the area. The terrorism has deadly caused decrease in overseas and local investment, exports, physical infrastructure, and wealth stock ultimately leading to damage of the socio-economic status of Pakistan. Main reasons are ignorance about the actual teaching of Islam both by Muslim and non-Muslim, exploitation by the religious and political influential, sectarianism and extremism, lack of tolerance and broadmindedness and reaction and retortion by the sufferer. The key treatment and therapy of the abovementioned illnesses exist in the messages of Sufism.

Keywords: sufism, love, Pakistan, terrorism

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Authors: Robin Molinier

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Industrial symbiosis (I.S) deals with the exchange of waste materials, fatal energy and utilities as resources for production. While it brings environmental benefits from resource conservation its economic profitability is one of the main barriers to its implementation. I.S involves several actors with their own objectives and resources so that each actor must be satisfied by ex-ante arrangements to commit toward investments and transactions. Regarding I.S Transaction cost economics helps to identify hybrid forms of governance for transactions governance due to I.S projects specificities induced by the need for customization (asset specificity, non-homogeneity). Thus we propose a framework to analyze the best contractual practices tailored to address I.S specific risks that we identified as threefold (load profiles and quality mismatch, value fluctuations). Schemes from cooperative game theory and contracting management are integrated to analyze value flows between actors. Contractual guidelines are then proposed to address the identified risks and to split the value for a set of I.S archetypes drawn from actual experiences.

Keywords: contracts, economics, industrial symbiosis, risks

Procedia PDF Downloads 210

Authors: Ugbajah Maryjane

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The study examined the production of grass cutter and the constraints in Anambra state, Nigeria. Specifically, it described socio-economic characteristics of the respondents, determinants of net farm income and constraints to grass cutter production. Multistage and random sampling methods were used to select 50 respondents for this study. Primary data were collected by means of structured questionnaire. Non-parametric and parametric statistical tools including frequency percentage mean ranking counts, cost and returns and returns and multiple regression were deployed for data analysis. Majority 84% produce on small scale, 64 % had formal education 68% had 3-4 years of farming experience hence small scaled production were common. The income (returns) on investment was used as index of profitability, gross margin (#5,972,280), net farm income (#5,327,055.2) net return on investment (2.5) and return on investment 3.1. Net farm income was significantly influence by stock size and years of farming experience. Grass cutter farmers production problem would be ameliorated by the expression of extension education awareness campaigns to discourage unhealthy practices such as indiscriminant bush burning, use of toxic chemicals as baits, and provision of credits to the farmers.

Keywords: socio-economic factors, profitability, awareness, toxic chemicals, credits

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Authors: S. AlBustan, B. AlGhannam

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This oral presentation discusses a proposal for a study that evaluates the usability of an evidence based application named ProxTalker App. The significance of this study will inform administration and faculty staff at the Department of Communication Sciences Disorders (CDS), College of Life Sciences, Kuwait University whether the app is a suitable tool to use for CDS students. A case study will be used involving a sample of CDS students taking practicum and internship courses during the academic year 2018/2019. The study will follow a process used by previous study. The process of calculating SUS is well documented and will be followed. ProxTalker App is an alternative and augmentative tool that speech language pathologist (SLP) can use to customize boards for their clients. SLPs can customize different boards using this app for various activities. A board can be created by the SLP to improve and support receptive and expressive language. Using technology to support therapy can aid SLPs to integrate this ProxTalker App as part of their clients therapy. Supported tools, games and motivation are some advantages of incorporating apps during therapy sessions. A quantitative methodology will be used. It involves the utilization of a standard tool that was the was adapted to the Arabic language to accommodate native Arabic language users. The tool that will be utilized in this research is the Arabic Standard Usability Scale (A-SUS) questionnaire which is an adoption of System Usability Scale (SUS). Standard usability questionnaires are reliable, valid and their process is properly documented. This study builds upon the development of A-SUS, which is a psychometrically evaluated questionnaire that targets Arabic native speakers. Results of the usability will give preliminary indication of whether the ProxTalker App under investigation is appropriate to be integrated within the practicum and internship curriculum of CDS. The results of this study will inform the CDS department of this specific app is an appropriate tool to be used for our specific students within our environment because usability depends on the product, environment, and users.

Keywords: A-SUS, communication disorders practicum, evidence based app, Standard Usability Scale

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Authors: Tahir Mehmood, Mumtaz Akhter

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The global need for conflict management is greater now in the early 21st century than ever before. According to UNESCO, half of the world’s 195 countries will have to expand their stock of educationist significantly, some by tens of thousands, if the goal development targets are desired to achieve. Socioeconomic inequities, political instability, demographic changes and crises such as the HIV/AIDs epidemic have engendered huge shortfalls in teacher supply and low teacher quality in many developing countries. Education serves as back bone in development process. Open learning and distance education programs are serving as pivotal part of development process. It is now clear that ‘bricks and mortar’ approaches to expanding teacher education may not be adequate if the current and projected shortfalls in teacher supply and low teacher quality are to be properly addressed. The study is designed to measure the perceptions of teaching learning community about conflict management with special reference to open and distance learning. It was descriptive study which targeted teachers, students, community members and experts. Data analysis was carried out by using statistical techniques served by SPSS. Findings reflected that audience perceives open and distance learning as change agent and as development tool. It is noticed that target audience has driven prominent performance by using facility of open and distance learning.

Keywords: conflict management, open and distance learning, teachers, students

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Authors: Helena Susana Afonso Alves, Natália Maria Rafael Canadas, Ana Maria Rodrigues

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We examined the impact of governance rules on information asymmetry, using the turnover ratio and the bid-ask spread as proxies for the information asymmetry. We used a SEM model and analyzed the indirect relations through the voluntary disclosure of information and the organizational performance. We built a voluntary disclosure index based on the information firms provided in their annual reports and divided the governance characteristics in two constructs: directors’ and supervisors’ structures and ownership structure. We concluded that the ownership structure exerts a direct influence on share price and share liquidity, Otherwise, the directors’ and supervisors’ structures exert an indirect influence, through the organizational performance and the voluntary disclosure of information. The results also show that for firms with high levels of disclosure the bid-ask spread is lower. However, in firms with a high ownership concentration investors tend to increase the bid-ask spreads and trade less, which, in this case, reduces the liquidity of the stock. The failure to find the relationship between voluntary disclosure of information and the turnover ratio shows us that the liquidity of shares is more related to the greater or lesser concentration of shareholders, with the performance of their companies than with the access to information. Moreover, it is clear that the role that information disclosure plays is mainly at the level of price formation.

Keywords: corporate governance, information asymmetry, voluntary disclosure, structural equation modelling, SEM

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Authors: Pavak Vyas, Hiral Vyas

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Spin-offs commonly known as demergers in India, represents dismantling of conglomerates which is a common phenomenon in financial markets across the world. Demergers are carried out with different motives. A demerger generally refers to a corporate restructuring where, a large company divests its stake in in its subsidiary and distributes the shares of the subsidiary - demerged entity to the existing shareholders without any consideration. Demergers in Indian companies are over a decade old phenomena, with many companies opting for the same. This study examines the demerger regulations in Indian capital markets and the announcement period price reaction of demergers during year 2010-2015. We study total 97 demerger announcements by companies listed in India and try to establish that demergers results into abnormal returns for the shareholders of the parent company. Using event study methodology we have analyzed the security price performance of the announcement day effect 10 days prior to announcement to 10 days post demerger announcement. We find significant out-performance of the security over the benchmark index post demerger announcements. The cumulative average abnormal returns range from 3.71% on the day of announcement of a private demerger to 2.08% following 10 days surrounding the announcement, and cumulative average abnormal returns range from 5.67% on the day of announcement of a public demerger to 4.15% following10 days surrounding the announcement.

Keywords: demergers, event study, spin offs, stock returns

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Authors: Benga Ebouele, Thomas Tengen

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Implementing either periodic or continuous inventory review model within most manufacturing-companies-supply chains as a management tool may incur higher costs. These high costs affect the system flexibility which in turn affects the level of service required to satisfy customers. However, these effects are not clearly understood because the parameters of both inventory review policies (protection demand interval, order quantity, etc.) are not designed to be fully utilized under different and uncertain conditions such as poor manufacturing, supplies and delivery performance. Coming up with a hybrid model which may combine in some sense the feature of both continuous and a periodic inventory review models should be useful. Therefore, there is a need to build and evaluate such hybrid model on the annual total cost, stock out probability and system’s flexibility in order to search for the most cost effective inventory review model. This work also seeks to find the optimal sets of parameters of inventory management under stochastic condition so as to optimise each policy independently. The results reveal that a continuous inventory system always incurs lesser cost than a periodic (R, S) inventory system, but this difference tends to decrease as time goes by. Although the hybrid inventory is the only one that can yield lesser cost over time, it is not always desirable but also natural to use it in order to help the system to meet high performance specification.

Keywords: demand and lead time randomness, hybrid Inventory model, optimization, supply chain

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Authors: Hilary Limo Rutto

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To better understand the application of diatomite as an adsorbent for the removal of Pb2+ from heavy metal-contaminated water, in this paper, diatomite was used to adsorb Pb2+ from aqueous solution under various conditions. The intrinsic exchange properties were further improved by heating the raw diatomite with fluxing agent at different temperatures and modification with manganese oxides. It is evident that the mass of the adsorbed Pb2+ generally increases after thermal treatment and modification with manganese oxides. The adsorption characteristics of lead on diatomite were studied at pH range of 2.5–12. The favourable pH range was found to be 7.5-8.5. The thermodynamic parameters (i.e.,∆H° ∆G° ∆S°) were evaluated from the temperature dependent adsorption isotherms. The results indicated that the adsorption process of Pb2+ on diatomite was spontaneous, endothermic and physical in nature. The equilibrium data have been analyzed using Langmuir and freundlich isotherm. The Langmuir isotherm was demonstrated to provide the best correlation for the adsorption of lead onto diatomite. The kinetics was studied using Pseudo- first and second-order model on the adsorption of lead onto diatomite. The results give best fit in second-order studies and it can be concluded that the adsorption of lead onto diatomite is second order reaction.

Keywords: thermally modified, diatomite, adsorption, lead

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Authors: Delio I. Castaneda, Paul Toulson

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The purpose of this study was to investigate the knowledge sharing effectiveness of two types of knowledge, tacit and explicit, depending on two channels: face to face or digital. Participants were 217 knowledge workers in New Zealand and researchers who attended a knowledge management conference in the United Kingdom. In the study, it was found that digital tools are effective to share explicit knowledge. In addition, digital tools that facilitated dialogue were effective to share tacit knowledge. It was also found that face to face communication was an effective way to share tacit and explicit knowledge. Results of this study contribute to clarify in what cases digital tools are effective to share tacit knowledge. Additionally, even though explicit knowledge can be easily shared using digital tools, this type of knowledge is also possible to be shared through dialogue. Result of this study may support practitioners to redesign programs and activities based on knowledge sharing to make strategies more effective.

Keywords: digital knowledge, explicit knowledge, knowledge sharing, tacit knowledge

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Authors: Abimbola Adedeji, Ahmad Shauqi Zubir

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This paper examines the profitability and risk between investing in gold exchange traded funds (ETFs) and gold mutual funds compares to gold prices. The main focus in determining whether there are similarities or differences between those financial products is the tracking error. The importance of understanding the similarities or differences between the gold ETFs, gold mutual funds and gold prices is derived from the fact that gold ETFs and gold mutual funds are used as substitutions for investors who are looking to profit from gold prices although they are short in capital. 10 hypotheses were tested. There are 3 types of tracking error used. Tracking error 1 and 3 gives results that differentiate between types of ETFs and mutual funds, hence yielding the answers in answering the hypotheses that were developed. However, tracking error 2 failed to give the answer that could shed light on the questions raised in this study. All of the results in tracking error 2 technique only telling us that the difference between the ups and downs of the financial instruments are similar, statistically to the physical gold prices movement.

Keywords: gold etf, gold mutual funds, tracking error

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Authors: Abdullah Alhaqbani

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Purpose: Implementing continuous improvement is a challenge that public sector organisations face in becoming successful. Many obstacles hinder public organisations from successfully implementing continuous improvement. This paper aims to highlight the key core obstacles that face public organisations to implement continuous improvement programmes. Approach: Based on the literature, this paper reviews 66 papers that were published between 2000 and 2013 and that focused on the concept of continuous improvement and improvement methodologies in the context of public sector organisations. The methodologies for continuous improvement covered in these papers include Total Quality Management, Six Sigma, process re-engineering, lean thinking and Kaizen. Findings: Of the 24 obstacles found in the literature, 11 barriers were seen as core barriers that frequently occurred in public sector organisations. The findings indicate that lack of top management commitment; organisational culture and political issues and resistance to change are significant obstacles for improvement programmes. Moreover, this review found that improvement methodologies share some core barriers to successful implementation within public organisations. These barriers as well are common in the different geographic area. For instance lack of top management commitment and training that found in the education sector in Albanian are common barriers of improvement studies in Kuwait, Saudi Arabia, Spain, UK and US. Practical implications: Understanding these core issues and barriers will help managers of public organisations to improve their strategies with respect to continuous improvement. Thus, this review highlights the core issues that prevent a successful continuous improvement journey within the public sector. Value: Identifying and understanding the common obstacles to successfully implementing continuous improvement in the public sector will help public organisations to learn how to improve in launching and successfully sustaining such programmes. However, this is not the end; rather, it is just the beginning of a longer improvement journey. Thus, it is intended that this review will identify key learning opportunities for public sector organisations in developing nations which will then be tested via further research.

Keywords: continuous improvement, total quality management, obstacles, public sector

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Authors: Marcin Dębowski, Marcin Zieliński, Mirosław Krzemieniewski

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This publication presents a reactor designed for methane fermentation of organic substrates. The design is based on rotating cellular cylinders connected to a biomass feeder and an ultrasonic generator. This allows for simultaneous mixing and partial disintegration of the biomass, as well as stimulating higher metabolic rates within the microorganisms. Such a design allows from 2-fold to 14-fold reduction of power usage when compared to conventional mixing systems. The sludge does not undergo mechanical deformation during the mixing process, which improves substrate biodegradation efficiency by 10-15%. Cavitation occurs near the surface of the rods, partially releasing the biomass and separating it from the destroyed microorganisms. Biogas is released further away from the cellular cylinder rods due to the effect of the ultrasonic waves, in addition to increased biochemical activity of the microorganisms and increased exchange of the nutrient medium with metabolic products, which results in biogas production increase by about 15%.

Keywords: methane fermentation, bioreactors, biomass, mixing system

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Authors: Mahsa Faramarzi Asli, Mina Sarabi

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The important issues that are addressed in most advanced industrial countries in recent decades, discussion of minimizing heat losses through the buildings. And the most influential parameters in the calculation of building energy consumption, is heat exchange, which takes place between the interior and outer space. One of the solutions to reduce heat loss is using materials with low thermal conductivity. The purpose of this article, is the effect of using some frontages with nano-concrete photo catalytic precast materials for reducing energy consumption in buildings. For this purpose, estimating the energy dissipation through the facade built with nano-concrete photo catalytic precast materials on a sample building in Tabriz city by BCS 19 software ( topic 19 simulation) is done and the results demonstrate reduce heat loss through the facade nano- concrete.

Keywords: nano materials, optimize energy consumption, themal, stability

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Authors: B. F. Dada, B. S. Ewulo, M. A. Awodun, S. O. Ajayi

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Aggregate soil carbon distribution and stock in the soil in the form of a carbon pool is important for soil fertility and sequestration. The amount of carbon pool and other nutrients statues of the soil are to benefit plants, animal and the environment in the long run. This study was carried out at Akure North and South Local Government; the study area is one of the 18 Local Government Areas of Ondo State in the Southwest geo-political zone of Nigeria. The sites were divided into Map Grids and geo-referenced with Global Positioning System (GPS). Horizons were designated and morphological description carried out on the field. Pedons were characterized and classified according to USDA soil taxonomy. The local government area shares boundaries with; Ikere Local Government (LG) in the North, Ise Orun LG in the northwest, Ifedore LG in the northeast Akure South LG in the East, Ose LG in the South East, and Owo LG in the South. SOC-pool at Federal College of Agriculture topsoil horizon A2 is significantly higher than all horizons, 67.83 th⁻¹. The chemical properties of the pedons have shown that the soil is very strongly acidic to neutral reaction (4.68 – 6.73). The nutrients status of the soil topsoil A1 and A2 generally indicates that the soils have a low potential for retaining plant nutrients, and therefore call for adequate soil management.

Keywords: soil organic carbon (SOC), horizon, pedon, Akure

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Authors: B. Marasović, S. Pivac, S. V. Vukasović

Abstract:

Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Markowitz model, fractional quadratic programming, portfolio optimization, transaction costs

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Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

Abstract:

The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Isabel Moscol, Carlos J. Díaz, Ciro Rodríguez

Abstract:

Hip replacement becomes necessary when a person suffers severe pain or considerable functional limitations and the best option to enhance their quality of life is through the replacement of the damaged joint. One of the main components in femoral prostheses is the stem which distributes the loads from the joint to the proximal femur. To preserve more bone stock and avoid weakening of the diaphysis, a short starting stem was selected, generated from the intramedullary morphology of the patient's femur. It ensures the implantability of the design and leads to geometric delimitation for personalized optimization with machine learning (ML) and metaheuristic algorithms. The present study attempts to design a cementless short stem to make the strain deviation before and after implantation close to zero, promoting its fixation and durability. Regression models developed to estimate the percentage change of maximum principal stresses were used as objective optimization functions by the metaheuristic algorithm. The latter evaluated different geometries of the short stem with the modification of certain parameters in oblique sections from the osteotomy plane. The optimized geometry reached a global stress shielding (SS) of 18.37% with a determination factor (R²) of 0.667. The predicted results favour implantability integration in the short stem optimization to effectively reduce SS in the proximal femur.

Keywords: machine learning techniques, metaheuristic algorithms, short-stem design, stress shielding, hip replacement

Procedia PDF Downloads 196