Search results for: corporate bond portfolio

Authors: K. Ö. Kartal, L. Maul, M. Hägele

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With the development of new technologies come additional opportunities for the founding of companies and new markets to be created. The barriers to entry are lowered and technology makes old business models obsolete. Incumbent companies have to be adaptable to this quickly changing environment. They have to start the process of digital maturation and they have to be able to adapt quickly to new and drastic changes that might arise. One of the biggest barriers for organizations in order to do so is their culture. This paper shows the core elements of a corporate culture that supports the process of digital maturation in incumbent organizations. Furthermore, it is explored how ideation and innovation can be used in a strategy in order to facilitate these core elements of culture that promote digital maturity. Focus areas are identified for the design of ideation strategies, with the aim to make the facilitation and incitation process more effective, short to long term. Therefore, one in-depth case study is conducted with data collection from interviews, observation, document review and surveys. The findings indicate that digital maturity is connected to cultural shift and 11 relevant elements of digital culture are identified which have to be considered. Based on these 11 core elements, five focus areas that need to be regarded in the design of a strategy that uses ideation and innovation to facilitate the cultural shift are identified. These are: Focus topics, rewards and communication, structure and frequency, regions and new online formats.

Keywords: digital transformation, innovation management, ideation strategy, creativity culture, change

Procedia PDF Downloads 175

Authors: Saidu I. R., Shittu S. S.

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As the trend of personal devices accessing corporate data continues to rise through Bring Your Own Device (BYOD) practices, organizations recognize the potential cost reduction and productivity gains. However, the associated security risks pose a significant threat to these benefits. Often, organizations adopt BYOD environments without fully considering the vulnerabilities introduced by human factors in this context. This study presents an enhanced assessment model that evaluates the security posture of employees in BYOD environments using cyber hygiene principles. The framework assesses users' adherence to best practices and guidelines for maintaining a secure computing environment, employing scales and the Euclidean distance formula. By utilizing this algorithm, the study measures the distance between users' security practices and the organization's optimal security policies. To facilitate user evaluation, a simple and intuitive interface for automated assessment is developed. To validate the effectiveness of the proposed framework, design science research methods are employed, and empirical assessments are conducted using five artifacts to analyze user suitability in BYOD environments. By addressing the human factor vulnerabilities through the assessment of cyber hygiene practices, this study aims to enhance the overall security of BYOD environments and enable organizations to leverage the advantages of this evolving trend while mitigating potential risks.

Keywords: security, BYOD, vulnerability, risk, cyber hygiene

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Authors: Michael W. Markowitz, Jeffrey Gingerich

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The landscape of higher education in the United States has undergone significant changes in the last 25 years. What was once a domain of competition among prospective students for a limited number of college and university seats has become a marketplace in which institutions vie for the enrollment of educational consumers. A central figure in this paradigm shift has been the Chief Academic Officer (CAO), whose institutional role has also evolved beyond academics to include such disparate responsibilities as strategic planning, fiscal oversight, student recruitment, fundraising and personnel management. This paper explores the scope and impact of this transition by, first, explaining its context: the intersection of key social, economic and political factors in neo-conservative, late 20th Century America that redefined the value and accountability of institutions of higher learning. This context, in turn, is shown to have redefined the role and function of the CAO from a traditional academic leader to one centered on the successful application of corporate principles of organizational and fiscal management. Information gathered from a number of sitting Provosts, Vice-Presidents of Academic Affairs and Deans of Faculty is presented to illustrate the parameters of this change, as well as the extent to which today’s academic officers feel prepared and equipped to fulfill this broader institutional role. The paper concludes with a discussion of the impact of this transition on the American academy and whether it serves as a portend of change to come in higher education systems around the globe.

Keywords: academic administration, higher education, leadership, organizational management

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Authors: Vibha Venkataramu, B. V. Venkatarama Reddy

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Natural river sand is the most preferred choice as fine aggregate in masonry mortars. Uncontrolled mining of sand from riverbeds for several decades has had detrimental effects on the environment. Several countries across the world have put strict restrictions on sand mining from riverbeds. However, in countries like India, the huge infrastructural boom has made the local construction industry to look for alternative materials to sand. This study aims at understanding the suitability of granulated blast furnace slag (GBS) as fine aggregates in masonry mortars. Apart from characterising the material properties of GBS, such as particle size distribution, pH, chemical composition, etc., of GBS, tests were performed on the mortars with GBS as fine aggregate. Additionally, the properties of five brick tall, stack bonded masonry prisms with various types of GBS mortars were studied. The mortars with mix proportions 1: 0: 6 (cement: lime: fine aggregate), 1: 1: 6, and 1: 0: 3 were considered for the study. Fresh and hardened properties of mortar, such as flow and compressive strength, were studied. To understand the behaviour of GBS mortars on masonry, tests such as compressive strength and flexure bond strength were performed on masonry prisms made with a different type of GBS mortars. Furthermore, the elastic properties of masonry with GBS mortars were also studied under compression. For comparison purposes, the properties of corresponding control mortars with natural sand as fine aggregate and masonry prisms with sand mortars were also studied under similar testing conditions. From the study, it was observed the addition of GBS negatively influenced the flow of mortars and positively influenced the compressive strength. The GBS mortars showed 20 to 25 % higher compressive strength at 28 days of age, compared to corresponding control mortars. Furthermore, masonry made with GBS mortars showed nearly 10 % higher compressive strengths compared to control specimens. But, the impact of GBS on the flexural strength of masonry was marginal.

Keywords: building materials, fine aggregate, granulated blast furnace slag in mortars, masonry properties

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Authors: Sarekha Woranuch, Rangrong Yoksan

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Chitosan is a derivative of chitin, which is a second most naturally abundant polysaccharide found in crab shells, shrimp shells, and squid pens. The applications of chitosan in pharmaceutical, cosmetics, food and packaging industries have been reported owing to its general recognition as safe, excellent biodegradability and biocompatibility, as well as ability to form films, membranes, gels, beads, fibers and particles. Nevertheless, chitosan is an amino polysaccharide consisting of strong inter- and intramolecular hydrogen bonds which limit its solubility in neutral pH water resulting in restricted utilization. Chemical modification is an alternative way to impede hydrogen bond formation. The objective of the present research is to improve water solubility and antioxidant activity of chitosan by grafting with ferulic acid. Ferulic acid was grafted onto chitosan at the C-2 position via a carbodiimide-mediated coupling reaction. Different mole ratios of chitosan to ferulic acid (i.e. 1.0:0.0, 1.0:0.5, 1.0:1.0, 1.0:1.5, 1.0:2.0, and 1.0:2.5) and various reaction temperatures (i.e. 40, 60, and 80 °C) were used. The reaction was performed at different times (i.e. 1.5, 3.0, 4.5, and 6.0 h). The obtained ferulic acid-grafted chitosan was characterized by FTIR and 1H NMR technique. The influences of ferulic acid on crystallinity, solubility and radical scavenging activity of chitosan were also investigated. Ferulic acid grafted chitosan was successfully synthesized as confirmed from (i) the appearance of FTIR absorption band at 1517 cm-1 belonging to C=C aromatic ring of ferulic acid and the increased C–H stretching band intensity and (ii) the appearance of proton signals at δ = 6.31-7.67 ppm ascribing to methine protons of ferulic acid. The condition in which the reaction temperature of 60°C, reaction time of 3 h and the mole ratio of chitosan to ferulic acid of 1:1 gave the highest ferulic acid substitution degree, i.e. 0.37. The resulting ferulic acid grafted chitosan was soluble in water (1.3 mg/mL) due to its reduced crystallinity as compared with chitosan and also exhibited 90% greater radical scavenging activity than chitosan. The result suggested the utilization of ferulic acid grafted chitosan as an antioxidant material.

Keywords: antioxidant property, chitosan, ferulic acid, grafting

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Authors: Bahram Fathi, Karim Alizadeh, Azam Mohammadbagheri

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The aim of this paper is to investigate the role of oil price shocks in explaining business cycles in Iran using a dynamic stochastic general equilibrium approach. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. The model with two shocks produces different values for volatility, but these values have the same ranking as that of the actual data for most variables. In addition, the actual data are close to the ratio of standard deviations to the output obtained from the model with two shocks. The results indicate that productivity shocks are relatively more important to business cycles than the oil shocks. The model with only a productivity shock produces the most similar figures in term of volatility magnitude to that of the actual data. Next, we use the Impulse Response Functions (IRF) to evaluate the capability of the model. The IRF shows no effect of an oil shock on the capital stocks and on labor hours, which is a feature of the model. When the log-linearized system of equations is solved numerically, investment and labor hours were not found to be functions of the oil shock. This research recommends using different techniques to compare the model’s robustness. One method by which to do this is to have all decision variables as a function of the oil shock by inducing the stationary to the model differently. Another method is to impose a bond adjustment cost. This study intends to fill that gap. To achieve this objective, we derive a DSGE model that allows for the world oil price and productivity shocks. Second, we calibrate the model to the Iran economy. Next, we compare the moments from the theoretical model with both single and multiple shocks with that obtained from the actual data to see the extent to which business cycles in Iran can be explained by total oil revenue shock. Then, we use an impulse response function to evaluate the role of world oil price shocks. Finally, I present implications of the findings and interpretations in accordance with economic theory.

Keywords: oil price, shocks, dynamic stochastic general equilibrium, Iran

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Authors: Hemanth K. Balaga, Prakash Nanthagopalan

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Every year a huge amount of paper gets discarded of which only a minute fraction is being recycled and the rest gets dumped as landfills. Paper fibres can be recycled only a limited number of times before they become too short or weak to make high quality recycled paper. This eventually adds to the already big figures of waste paper that is being generated and not recycled. It would be advantageous if this prodigious amount of waste can be utilized as a low-cost sustainable construction material and make it as a value added product. The generic term for the material under investigation is paper-concrete. This is a fibrous mix made of Portland cement, water and pulped paper and/or other aggregates. The advantages of this material include light weight, good heat and sound insulation capability and resistance to flame. The disadvantages include low strength compared to conventional concrete and its hydrophilic nature. The properties vary with the variation of cement and paper content in the mix. In the present study, Portland Pozzolona Cement and news print paper were used for the preparation of paper concrete cubes. Initially, investigations were performed to determine the minimum soaking period required for the softening of the paper fibres. Further different methodologies were explored for proper blending of the pulp with cement paste. The properties of paper concrete vary with the variation of cement to paper to water ratio. The study mainly addresses the parameters of strength and weight loss of the concrete cubes with age and the time that is required for the dry paper fibres to become soft enough in water to bond with the cement. The variation of compressive strength with cement content, water content, and time was studied. The water loss of the cubes with time and the minimum time required for the softening of paper fibres were investigated .Results indicate that the material loses 25-50 percent of the initial weight at the end of 28 days, and a maximum 28 day compressive strength (cubes) of 5.4 Mpa was obtained.

Keywords: soaking time, difference water, minimum water content, maximum water content

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Authors: Mohit Chauhan, Atul Narayan

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Moisture damage is the continuous deterioration of asphalt concrete mixtures by the loss of adhesive bond between the asphalt binder and aggregates, or loss of cohesive bonds within the asphalt binder in the presence of moisture. Moisture has been known to either cause or exacerbates distresses in asphalt concrete pavements. Since moisture would often retain for a relatively long duration at the bottom of asphalt concrete layer, the movement of traffic loading in this saturated condition would cause excess stresses or strains within the mixture. This would accelerate the degradation of the adhesion and cohesion within the mixture and likely to contribute the development of fatigue cracking in asphalt concrete pavements. In view of this, it is important to investigate the effect of moisture on the fatigue behavior of asphalt concrete mixtures. In this study, changes in fatigue characteristics after moisture conditioning were evaluated by conducting four-point beam fatigue tests on dry and moisture conditioned specimens. For this purpose, mixtures with two different types of binders were prepared and saturated with moisture using 700 mm Hg vacuum. Beam specimens, in this way, were taken to a saturation level of 65-75 percent. After preconditioning specimens in this degree of saturation and 60°C for a period of 24 hours, they were subjected to four point beam fatigue tests in strain-controlled mode with a strain amplitude of 400 microstrain. The results were then compared with the fatigue test results obtained with beam specimens that were not subjected to moisture conditioning. Test results show that the conditioning reduces both fatigue life and initial flexural stiffness of specimen significantly. The moisture conditioning was also found to increase the rate of reduction of flexural stiffness. Moreover, it was observed that the fatigue life ratio (FLR), the ratio of the fatigue life of the moisture conditioned sample to that of the dry sample, is significantly lower than the flexural stiffness ratio (FSR). The study indicates that four-point bending test is an appropriate tool with FLR and FSR as the potential parameters for moisture-sensitivity evaluation.

Keywords: asphalt concrete, fatigue cracking, moisture damage, preconditioning

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Authors: Tatjana Jurić, Bojana Blagojević, Denis Uka, Ružica Ždero Pavlović, Boris M. Popović

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Natural deep eutectic solvents (NADES) represent a class of modern systems that have been developed as a green alternative to toxic organic solvents, which are commonly used as extraction media. It has been considered that hydrogen bonding is the main interaction leading to the formation of NADES. The aim of this study was phytochemical characterization and determination of the antioxidant and antibacterial activity of Mentha piperita leaf extracts obtained by six choline chloride-based NADES. NADES were prepared by mixing choline chloride with different hydrogen bond donors in 1:1 molar ratio following the addition of 30% (w/w) water. The mixtures were then heated (60 °C) and stirred (650 rpm) until the clear homogenous liquids were obtained. The Mentha piperita extracts were prepared by mixing 75 mg of peppermint leaves with 1 mL of NADES following by the heating and stirring (60 °C, 650 rpm) within 30 min. The content of six phenolics in extracts was determined using HPLC-PDA. The dominant compounds presented in peppermint leaves - rosmarinic acid and luteolin 7-O-glucoside, were extracted by NADES at a similar level as 70% ethanol. The microdilution method was applied to test the antibacterial activity of extracts. Compared with 70% ethanol, all NADES systems showed higher antibacterial activity towards Pseudomonas aeruginosa (Gram -), Staphylococcus aureus (Gram +), Escherichia coli (Gram -), and Salmonella enterica (Gram -), especially NADES containing organic acids. The majority of NADES extracts showed a better ability to neutralize DPPH radical than conventional solvent and similar ability to reduce Fe3+ to Fe2+ ions in FRAP assay. The obtained results introduce NADES systems as the novel, sustainable, and low-cost solvents with a variety of applications.

Keywords: antibacterial activity, antioxidant activity, green extraction, natural deep eutectic solvents, polyphenols

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Authors: Naziru Suleiman

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The ever increasing cases of financial frauds and corporate accounting scandals in recent years have raised more concern on the operation of internal control mechanisms and performance of the internal audit departments in organizations. In most cases the seeming presence of both the internal control system and internal audit in organizations do not prove useful as frauds errors and irregularities are being perpetuated. The aim of this study, therefore, is to assess the role of internal audit in achieving the objectives of internal control system of federal hospitals in Kano State from the perception of the respondents. The study used survey research design and generated data from primary source by means of questionnaire. A total number of 100 copies of questionnaire were administered out of which 68 were duly completed and returned. Cronbach’s alpha was used to test the internal validity of the various items in the constructs. Descriptive statistics, chi-square test, Mann Whitney U test and Kruskal Wallis ANOVA were employed for the analysis of data. The study finds that from the perception of the respondents, internal audit departments in Federal Hospitals in Kano State are effective and that they contribute positively to the overall attainment of the objectives of internal control system of these hospitals. There is no significant difference found on the views of the respondents from the three hospitals. Hence, the study concludes that strong and functional internal audit department is a basic requirement for effectiveness of operations of the internal control system. In the light of the findings, it is recommended that internal audit should continue to ensure that the objectives of internal control system of these hospitals are achieved through proper and adequate evaluation and review of the system.

Keywords: internal audit, internal control, federal hospitals, financial frauds

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Authors: Haruna Maama

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Environmental, social and governance (ESG) reporting is gaining considerable attention despite being voluntary. Meanwhile, it consumes resources to provide ESG reporting, raising a question of its value relevance. The study examined the impact of ESG reporting on the market value of listed firms in SSA. The annual and integrated reports of 276 listed sub-Sahara Africa (SSA) firms. The integrated reporting scores of the firm were analysed using a content analysis method. A multiple regression estimation technique using a GMM approach was employed for the analysis. The results revealed that ESG has a positive relationship with firms’ market value, suggesting that investors are interested in the ESG information disclosure of firms in SSA. This suggests that extensive ESG disclosures are attempts by firms to obtain the approval of powerful social, political and environmental stakeholders, especially institutional investors. Furthermore, the market value analysis evidence is consistent with signalling theory, which postulates that firms provide integrated reports as a signal to influence the behaviour of stakeholders. This finding reflects the value placed on investors' social, environmental and governance disclosures, which affirms the views that conventional investors would care about the social, environmental and governance issues of their potential or existing investee firms. Overall, the evidence is consistent with the prediction of signalling theory. In the context of this theory, integrated reporting is seen as part of firms' overall competitive strategy to influence investors' behaviour. The findings of this study make unique contributions to knowledge and practice in corporate reporting.

Keywords: environmental accounting, ESG accounting, signalling theory, sustainability reporting, sub-saharan Africa

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Authors: N. Harun, E. E. Masiren, W. H. W. Ibrahim, F. Adam

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Amine absorption process is an approach for mitigation of CO2 from flue gas that produces from power plant. This process is the most common system used in chemical and oil industries for gas purification to remove acid gases. On the challenges of this process is high energy requirement for solvent regeneration to release CO2. In the past few years, mixed alkanolamines have received increasing attention. In most cases, the mixtures contain N-methyldiethanolamine (MDEA) as the base amine with the addition of one or two more reactive amines such as PZ. The reason for the application of such blend amine is to take advantage of high reaction rate of CO2 with the activator combined with the advantages of the low heat of regeneration of MDEA. Several experimental and simulation studies have been undertaken to understand this process using blend MDEA/PZ solvent. Despite those studies, the mechanism of CO2 absorption into the aqueous MDEA is not well understood and available knowledge within the open literature is limited. The aim of this study is to investigate the intermolecular interaction of the blend MDEA/PZ using Molecular Dynamics (MD) simulation. MD simulation was run under condition 313K and 1 atm using NVE ensemble at 200ps and NVT ensemble at 1ns. The results were interpreted in term of Radial Distribution Function (RDF) analysis through two system of interest i.e binary and tertiary. The binary system will explain the interaction between amine and water molecule while tertiary system used to determine the interaction between the amine and CO2 molecule. For the binary system, it was observed that the –OH group of MDEA is more attracted to water molecule compared to –NH group of MDEA. The –OH group of MDEA can form the hydrogen bond with water that will assist the solubility of MDEA in water. The intermolecular interaction probability of –OH and –NH group of MDEA with CO2 in blended MDEA/PZ is higher than using single MDEA. This findings show that PZ molecule act as an activator to promote the intermolecular interaction between MDEA and CO2.Thus, blend of MDEA with PZ is expecting to increase the absorption rate of CO2 and reduce the heat regeneration requirement.

Keywords: amine absorption process, blend MDEA/PZ, CO2 capture, molecular dynamic simulation, radial distribution function

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Authors: A. C. Kumbharkhane

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Time domain dielectric relaxation microwave spectroscopy (TDRMS) is a term used to describe a technique of observing the time dependant response of a sample after application of time dependant electromagnetic field. A TDRMS probes the interaction of a macroscopic sample with a time dependent electrical field. The resulting complex permittivity spectrum, characterizes amplitude (voltage) and time scale of the charge-density fluctuations within the sample. These fluctuations may arise from the reorientation of the permanent dipole moments of individual molecules or from the rotation of dipolar moieties in flexible molecules, like polymers. The time scale of these fluctuations depends on the sample and its relative relaxation mechanism. Relaxation times range from some picoseconds in low viscosity liquids to hours in glasses, Therefore the TDRS technique covers an extensive dynamical process. The corresponding frequencies range from 10-4 Hz to 1012 Hz. This inherent ability to monitor the cooperative motion of molecular ensemble distinguishes dielectric relaxation from methods like NMR or Raman spectroscopy, which yield information on the motions of individual molecules. Recently, we have developed and established the TDR technique in laboratory that provides information regarding dielectric permittivity in the frequency range 10 MHz to 30 GHz. The TDR method involves the generation of step pulse with rise time of 20 pico-seconds in a coaxial line system and monitoring the change in pulse shape after reflection from the sample placed at the end of the coaxial line. There is a great interest to study the dielectric relaxation behaviour in liquid systems to understand the role of hydrogen bond in liquid system. The intermolecular interaction through hydrogen bonds in molecular liquids results in peculiar dynamical properties. The dynamics of hydrogen-bonded liquids have been studied. The theoretical model to explain the experimental results will be discussed.

Keywords: microwave, time domain reflectometry (TDR), dielectric measurement, relaxation time

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Authors: Belén Vinaixa Kinnear, Arturo Hidalgo López, Bernardo Elembo Wilasi, Pablo Fernández Pérez, Cecilia Hernández Fuentealba

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The expanded use of risk assessment in legislative and corporate decision-making has increased the role of expert judgement in giving data for security-related decision-making. Expert judgements are required in most steps of risk assessment: danger recognizable proof, hazard estimation, risk evaluation, and examination of choices. This paper presents a fault tree analysis (FTA), which implies a probabilistic failure analysis applied to leakage of oil in a subsea production system. In standard FTA, the failure probabilities of items of a framework are treated as exact values while evaluating the failure probability of the top event. There is continuously insufficiency of data for calculating the failure estimation of components within the drilling industry. Therefore, fuzzy hypothesis can be used as a solution to solve the issue. The aim of this paper is to examine the leaks from the Zafiro West subsea oil facility by using fuzzy fault tree analysis (FFTA). As a result, the research has given theoretical and practical contributions to maritime safety and environmental protection. It has been also an effective strategy used traditionally in identifying hazards in nuclear installations and power industries.

Keywords: expert judgment, probability assessment, fault tree analysis, risk analysis, oil pipelines, subsea production system, drilling, quantitative risk analysis, leakage failure, top event, off-shore industry

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Authors: Ali Abbas

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This paper presents a descriptive model of organizational misconduct based on observed patterns that occur before and after an ethical collapse. The patterns were classified by categorizing media articles in both "for-profit" and "not-for-profit" organizations. Based on the model parameters, the paper provides a descriptive model of various organizational deflection strategies under numerous scenarios, including situations where ethical complaints build-up, situations under which whistleblowers become more prevalent, situations where large scandals that relate to leadership occur, and strategies by which organizations deflect blame when pressure builds up or when media finds out. The model parameters start with the premise of a tolerance to double standards in unethical acts when conducted by leadership or by members of corporate governance. Following this premise, the model explains how organizations engage in discursive strategies to cover up the potential conflicts that arise, including secret agreements and weakening stakeholders who may oppose the organizational acts. Deflection strategies include "preemptive" and "post-complaint" secret agreements, absence of (or vague) documented procedures, engaging in blame and scapegoating, remaining silent on complaints until the media finds out, as well as being slow (if at all) to acknowledge misconduct and fast to cover it up. The results of this paper may be used to guide organizational leaders into the implications of such shortsighted strategies toward unethical acts, even if they are deemed legal. Validation of the model assumptions through numerous media articles is provided.

Keywords: ethical decision making, prediction, scandals, organizational strategies

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Authors: Lin Meng, Xi Lu, Haibo Wang, Yong Song, Lili Cao, Wenfang Song, Yong Hu

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China has abundant heavy oil resources, and thermal recovery is the main recovery method for heavy oil reservoirs. However, high energy consumption, high carbon emission and high production costs make heavy oil thermal recovery unsustainable. It is urgent to explore a replacement for developing technology. A low Carbon and cost technology of heavy oil recovery, chemical viscosity-reduction in layer (CVRL), is developed by the petroleum exploration and development research institute of Sinopec via investigated mechanisms, synthesized products, and improved oil production technologies, as follows: (1) Proposed a cascade viscous mechanism of heavy oil. Asphaltene and resin grow from free molecules to associative structures further to bulk aggregations by π - π stacking and hydrogen bonding, which causes the high viscosity of heavy oil. (2) Aimed at breaking the π - π stacking and hydrogen bond of heavy oil, the copolymer of N-(3,4-dihydroxyphenethyl) acryl amide and 2-Acrylamido-2-methylpropane sulfonic acid was synthesized as a viscosity reducer. It achieves a viscosity reduction rate of>80% without shearing for heavy oil (viscosity < 50000 mPa‧s), of which fluidity is evidently improved in the layer. (3) Synthesized hydroxymethyl acrylamide-maleic acid-decanol ternary copolymer self-assembly plugging agent. The particle size is 0.1 μm-2 mm adjustable, and the volume is 10-500 times controllable, which can achieve the efficient transportation of viscosity reducer to enriched oil areas. CVRL has applied 400 wells until now, increasing oil production by 470000 tons, saving 81000 tons of standard coal, reducing CO2 emissions by 174000 tons, and reducing production costs by 60%. It promotes the transformation of heavy oil towards low energy consumption, low carbon emissions, and low-cost development.

Keywords: heavy oil, chemical viscosity-reduction, low carbon, viscosity reducer, plugging agent

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Authors: Wanida Suwunniponth

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This research paper aimed to developing a causal relationship model of success factors of customer relationship management of tourism in Thailand and to investigating relationships among the potential factors that facilitate the success of customer relationship management (CRM). The research was conducted in both quantitative and qualitative methods, by utilizing both questionnaire and in-depth interview. The questionnaire was used in collecting the data from 250 management staff in the hotels located within Bangkok area. Sampling techniques used in this research included cluster sampling according to the service quality and simple random sampling. The data input was analyzed by use of descriptive analysis and System Equation Model (SEM). The research findings demonstrated important factors accentuated by most respondents towards the success of CRM, which were organization, people, information technology and the process of CRM. Moreover, the customer relationship management of tourism business in Thailand was found to be successful at a very significant level. The hypothesis testing showed that the hypothesis was accepted, as the factors concerning with organization, people and information technology played an influence on the process and the success of customer relationship management, whereas the process of customer relationship management factor manipulated its success. The findings suggested that tourism business in Thailand with the implementation of customer relationship management should opt in improvement approach in terms of managerial structure, corporate culture building with customer- centralized approach accentuated, and investment of information technology and customer analysis, in order to capacitate higher efficiency of customer relationship management process that would result in customer satisfaction and retention of service.

Keywords: customer relationship management, casual relationship model, tourism, Thailand

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Authors: Silke Bustamante, Andrea Pelzeter, Andreas Deckmann, Rudi Ehlscheidt, Franziska Freudenberger

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CSR is associated with a great number of positive effects. This also includes the positive impact of CSR on the commitment of its employees. The internal CSR communication here takes the essential function as a mediator of the CSR performance of a company to the employees. The importance of CSR communication is, therefore, essential. Employees can usually only perceive the CSR efforts of a company if it is also communicated to them. Only if the employees perceive the CSR of their employer positively, the employer-CSR can also have a positive impact on their affective commitment. Therefore, organizational and individual factors are crucial and thus need to consider. This relationship between the organizational and individual factors was investigated in a qualitative case study in six companies of the German service sector. Expert interviews and focus group interviews were conducted and questionnaire-based ratings by company representatives were raised. Among the individual factors, in terms of CSR, the expectations and relevance of its employees, as well as the perception of CSR by the staff, are included. The organizational factors include the actual CSR performance and its communication. Ultimately, the impact of CSR on the commitment is examined with this holistic approach. The results show that the individual CSR perception does not always match the corporate CSR performance and its depiction in internal communication. Furthermore, employees have given suggestions on how CSR should be communicated by their employer. Knowledge memory systems (e.g. wiki) on the on hand and media-based information, on the other hand, were highlighted. Primarily the employee-related CSR is most important for the employees, whereas ecological CSR activities hardly play a role. The findings indicate the importance of CSR communication in the CSR concept as it provides the missing link between CSR performance and appreciation by an increase in commitment. It should only be communicated, what is done. CSR communication should also be carried out in a plausible and transparent way.

Keywords: CSR, employee commitment, employer brand, internal communication

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Authors: Ma'ruf

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Pilgrimage has a universal value, founded in every religion. No exception to Islam, has a ritual value, and became part of the religion, as well as the procession of a social culture in nature. The tradition of pilgrimage, especially in Indonesia, rooted in the society, because the Islam that entered into the archipelago through Sufism (tasawuf). In the Sufi tradition, the interconnecty of the human spirit (ruh) to the spirit (ruh) of God, must go through a guardian (wasilah) appointed by God himself ,the prophet Muhammad and wali. In the process of pilgrimage rituals usually by reading the prayer to praise God, the prophet and wali, then convey intent (hajat). In the pilgrimage procession, usually not only done in the house, but aslo completed the process by direct pilgrimage visiting the tombs of saints. The tradition of pilgrimage, especially in Indonesia continues to be maintained, and still attached to the traditions in Nahdiyin (NU followers). The relationship with God manifested in wasilah prayer to God, the prophet Muhammad, the best companions of the Prophet and Nine wali (Songo), who had been influential in spreading Islam in Java. The tradition of pilgrimage in Indonesia is also linked to the Shia community in Indonesia, along with a growing number of followers of the Shia in Indonesia, especially after the Islamic revolution of Iran after the 1979. Pilgrimage in the Shia community, Likewise NU members also pray with supplication of tawasul to the Prophet and Shia Imams. If NU members to make improvements pilgrimage to visit the tomb wali Songo in Java, residents Shia pilgrimage rituals abroad, usually one package with umrah trip, with a pilgrimage to the tomb of the prophet, proceed to the tomb of the Imam Shia, in Iran and Iraq. Trends of pilgrimage as a ritual in the Indonesian Shia tradition, together with the growing number of Shia residents increased, followed by increasing the awareness (syi’isme) - bond with the Imam, Shia. In every certain months (arbaeen, asyuro) Shia pilgrims routinely perform pilgrimage, along with increasing number spiritual travel.

Keywords: traditional approach, religious experience, culture, religion, pilgrimage, Syria

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Authors: Omnia F. Elkommos

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In the course of teaching stylistics to undergraduate students of the Department of English Language and Literature, Faculty of Arts and Humanities, the linguistic tool kit of theories comes in handy and useful for the better understanding of the different literary genres: Poetry, drama, and short stories. In the present paper, a model of teaching of stylistics is compiled and suggested. It is a collaborative group project technique for use in the undergraduate diverse specialisms (Literature, Linguistics and Translation tracks) class. Students initially are introduced to the different linguistic tools and theories suitable for each literary genre. The second step is to apply these linguistic tools to texts. Students are required to watch videos performing the poems or play, for example, and search the net for interpretations of the texts by other authorities. They should be using a template (prepared by the researcher) that has guided questions leading students along in their analysis. Finally, a practical analysis would be written up using the practical analysis essay template (also prepared by the researcher). As per collaborative learning, all the steps include activities that are student-centered addressing differentiation and considering their three different specialisms. In the process of selecting the proper tools, the actual application and analysis discussion, students are given tasks that request their collaboration. They also work in small groups and the groups collaborate in seminars and group discussions. At the end of the course/module, students present their work also collaboratively and reflect and comment on their learning experience. The module/course uses a drama play that lends itself to the task: ‘The Bond’ by Amy Lowell and Robert Frost. The project results in an interpretation of its theme, characterization and plot. The linguistic tools are drawn from pragmatics, and discourse analysis among others.

Keywords: applied linguistic theories, collaborative learning, cooperative principle, discourse analysis, drama analysis, group project, online acting performance, pragmatics, speech act theory, stylistics, technology enhanced learning

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Authors: Mariella Pinna

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Sustainable entrepreneurship is an innovative corporate approach to create value combining economic, social and environmental goals over time. In the last two decades, the interest in sustainable entrepreneurship has flourished thanks to its potential to answer the current challenges of sustainable development. As a result, scholars are increasingly interested in understanding the determinants of the intentions to become a sustainable entrepreneur and consistent behavior. To date, prior studies provided empirical evidence for the influence of attitudes, perceived feasibility and desirability, values, and personality traits on the decision-making process of becoming a sustainable entrepreneur. Conversely, scant effort has been provided to understand which factors inhibit sustainable entrepreneurial intentions and behaviors. Therefore a global understanding of the sustainable entrepreneurship decision-making process is missing. This paper contributes to the debate on sustainable entrepreneurship by proposing a conceptual model that combines the factors which are predicted to facilitate and hinder the proclivity of individuals to become sustainable entrepreneurs. More in particular, the proposed framework theorizes about the role of the characteristics of the prospective sustainable entrepreneur (e.g., socio-demographic, psychological, cultural), the positive antecedents (e.g., attitude, social feasibility and desirability, among others) and the negative precursors (e.g., neutralization) in influencing sustainable entrepreneurship intentions and subsequent behavior. The proposed framework is expected to shed further light on the decision-making process of becoming a sustainable entrepreneur, which in turn, is of practical relevance for public policy institutions and the society as a whole to enhance the favorable conditions to create new sustainable ventures.

Keywords: sustainable entrepreneurship, entrepreneurial intentions, entrepreneurial decision-making, antecedents of entrepreneurial intention and behavior

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Authors: Lyton Chithambo

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This paper reports the results of an investigation into the extent to which various stakeholder pressures influence voluntary disclosure of greenhouse-gas (GHG) emissions in the United Kingdom (UK). The study, which is grounded on institutional theory, also borrows from the insights of upper echelons theory and examines whether specific managerial (chief executive officer) characteristics explain and moderates various stakeholder pressures in explaining GHG voluntary disclosure. Data were obtained from the 2011 annual and sustainability reports of a sample of 216 UK companies on the FTSE350 index listed on the London Stock Exchange. Generally the results suggest that there is no substantial shareholder and employee pressure on a firm to disclose GHG information but there is significant positive pressure from the market status of a firm with those firms with more market share disclosing more GHG information. Consistent with the predictions of institutional theory, we found evidence that coercive pressure i.e. regulatory pressure and mimetic pressures emanating in some industries notably industrials and consumer services have a significant positive influence on firms’ GHG disclosure decisions. Besides, creditor pressure also had a significant negative relationship with GHG disclosure. While CEO age had a direct negative effect on GHG voluntary disclosure, its moderation effect on stakeholder pressure influence on GHG disclosure was only significant on regulatory pressure. The results have important implications for both policy makers and company boards strategizing to reign in their GHG emissions.

Keywords: greenhouse gases, voluntary disclosure, upper echelons theory, institution theory

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Authors: Muhammad Abdullah, Salman Iqbal, Mamoona Rasheed

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Social identity among people is an important source of pride and self-esteem, consequently, people struggle to preserve a positive perception of their groups and collectives. The purpose of this paper is to explain the process of social identification and to highlight the underlying causal factors of social identity among employees. There is a little research about how the social identity of employees is shaped in Pakistan’s organizational culture. This study is based on social identity theory. This study uses Systems’ approach as a research methodology. The feedback loop approach is applied to explain the underlying key elements of employee behavior that collectively form social identity among social groups in corporate arena. The findings of this study reveal that effective, evaluative and cognitive components of an individual’s personality are associated with the social identification. The system dynamic feedback loop approach has revealed the underlying structure that is associated with social identity, social group formation, and effective component proved to be the most associated factor. This may also enable to understand how social groups become stable and individuals act according to the group requirements. The value of this paper lies in the understanding gained about the underlying key factors that play a crucial role in social group formation in organizations. It may help to understand the rationale behind how employees socially categorize themselves within organizations. It may also help to design effective and more cohesive teams for better operations and long-term results. This may help to share knowledge among employees as well. The underlying structure behind the social identification is highlighted with the help of system modeling.

Keywords: affective commitment, cognitive commitment, evaluated commitment, system thinking

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Authors: J. Janani, S. Gomathi

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Despite the new economy is embodied with the ample size of talent pool, the corporate world is facing the hardship in the mismatch of talent demand supply. Therefore to combat with this fallout crisis, here depicts the relevance of Employer Branding. Employer branding is gaining its popularity in Large sized companies especially IT companies but less employer branding awareness among IT SMEs (Small and Medium size Enterprises). There are N range of analysis has been dole out on employer branding from different perspectives and in different industries. The hidden factor behind the employer branding namely the post employment dissonance was not given a lot of importance into the research picture. The present study examines the employer branding as the employer image and the organizational identity. It focuses on the two fold dimensional branding initiatives namely job offer attributes and organizational attractiveness. The study will depict the dissonance level and their variations among the foresaid initiatives from the former employees and the post-employment dissonance from the present employees in IT SMEs and it will also examine the employer perception from the prospective employees towards the stated branding initiatives. The demographic factors such as generational factors (gen X and gen Y) and the career stages are majorly focused in the study. The study will promote the IT SMEs to strengthen their employer branding effectively and efficiently through implementing varied strategies and this will help them to enhance the talent pool at their best. This will eventually result in talent attraction and talent retention.

Keywords: employer image, organizational identity, post-employment dissonance, job offer attributes, organizational attractiveness, talent pool, career stages, generational factors, information technology, SMEs

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Authors: Pandiyarajan Thangaraj, Mangalaraja Ramalinga Viswanathan, Karthikeyan Balasubramanian, Héctor D. Mansilla, José Ruiz

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Rare earth ions doped semiconductor nanostructures gained much attention due to their novel physical and chemical properties which lead to potential applications in laser technology as inexpensive luminescent materials. Doping of rare earth ions into ZnO semiconductor alter its electronic structure and emission properties. Surface modification (polymer covering) is one of the simplest techniques to modify the emission characteristics of host materials. The present work reports the synthesis and structural properties of PVA:Zn97Pr3O polymer nanocomposite free standing films. To prepare Pr3+ doped ZnO nanostructures and PVA:Zn97Pr3O polymer nanocomposite free standing films, the colloidal chemical and solution casting techniques were adopted, respectively. The formation of PVA:Zn97Pr3O films were confirmed through X-ray diffraction (XRD), absorption and Fourier transform infrared (FTIR) spectroscopy analyses. XRD measurements confirm the prepared materials are crystalline having hexagonal wurtzite structure. Polymer composite film exhibits the diffraction peaks of both PVA and ZnO structures. TEM images reveal the pure and Pr3+ doped ZnO nanostructures exhibit sheet like morphology. Optical absorption spectra show free excitonic absorption band of ZnO at 370 nm and, the PVA:Zn97Pr3O polymer film shows absorption bands at ~282 and 368 nm and these arise due to the presence of carbonyl containing structures connected to the PVA polymeric chains, mainly at the ends and free excitonic absorption of ZnO nanostructures, respectively. Transmission spectrum of as prepared film shows 57 to 69% of transparency in the visible and near IR region. FTIR spectral studies confirm the presence of A1 (TO) and E1 (TO) modes of Zn-O bond vibration and the formation of polymer composite materials.

Keywords: rare earth doped ZnO, polymer composites, structural characterization, surface modification

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Authors: Oiane Ruiz de Azua, Salvador Borros, Nuria Agullo, Jordi Arbusa

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Tackiness is described as the ability to spontaneously form a bond to another material under light pressures within a short application time. During the first few minutes of the adhesive's curing, it is necessary to have enough tack to keep the substrates together while cohesion is increasing within the adhesive. This property plays a key role in the manufacturing process of pieces. Epoxy adhesives, unlike other adhesives, usually present low tackiness before curing; however, there is very little literature about the use of tackifiers in epoxy adhesives, except for the high molecular weight epoxy additives. In the present work, a tetrafunctional epoxy resin based on Bisphenol-A and Sulfanilamide has been synthesized in order to be used as a tackifier. This additive offers improved specific adhesion to two-component (2K) epoxy adhesives. The dosage of the tackifier has to be done carefully not to alter the mechanical and rheological properties of the adhesive. The synthetized product has been analyzed by FTIR and ¹H-NMR analysis, and the effect of the addition of 1 wt % of the tackifier on rheological properties, viscoelastic behavior, and mechanical properties has been studied. On one hand, the addition of the product in the epoxy resin part showed a significant increase in tackiness regarding the neat epoxy resin. On the other hand, tackiness of the whole formulation was also increased. Curing time of the adhesive has not undergone any relevant changes with the tackifier addition. Regarding viscoelastic properties, Storage Modulus (G') and Loss Modulus (G'') remain also unchanged at ambient temperature. Probably, in case higher tackifier concentration would be added, differences in viscoelastic properties would be observed. The study of mechanical properties shows that hardness and tensile strength also keep their values unchanged regarding neat two component adhesive. In conclusion, the addition of 1 wt % of sulfanilamide/epoxy enhanced the tackiness of the epoxy resin part, improves tack without modifying significantly either the rheological, the mechanical, or the viscoelastic properties of the product. Thus, the sulfanilamide presented could be a good candidate to be used as an additive to the 2k epoxy formulation for the manufacturing process of pieces.

Keywords: epoxy adhesive, manufacturing process of pieces, sulfanilamide, tackifiers

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Authors: Yegnanew A. Shiferaw

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Background: commodity price volatility originating from excessive commodity price fluctuation has been a global problem especially after the recent financial crises. Volatility is a measure of risk or uncertainty in financial analysis. It plays a vital role in risk management, portfolio management, and pricing equity. Objectives: the core objective of this paper is to examine the relationship between the prices of agricultural commodities with oil price, gas price, coal price and exchange rate (USD/Rand). In addition, the paper tries to fit an appropriate model that best describes the log return price volatility and estimate Value-at-Risk and expected shortfall. Data and methods: the data used in this study are the daily returns of agricultural commodity prices from 02 January 2007 to 31st October 2016. The data sets consists of the daily returns of agricultural commodity prices namely: white maize, yellow maize, wheat, sunflower, soya, corn, and sorghum. The paper applies the three-state Markov-switching (MS) regression, the standard single-regime GARCH and the two regime Markov-switching GARCH (MS-GARCH) models. Results: to choose the best fit model, the log-likelihood function, Akaike information criterion (AIC), Bayesian information criterion (BIC) and deviance information criterion (DIC) are employed under three distributions for innovations. The results indicate that: (i) the price of agricultural commodities was found to be significantly associated with the price of coal, price of natural gas, price of oil and exchange rate, (ii) for all agricultural commodities except sunflower, k=3 had higher log-likelihood values and lower AIC and BIC values. Thus, the three-state MS regression model outperformed the two-state MS regression model (iii) MS-GARCH(1,1) with generalized error distribution (ged) innovation performs best for white maize and yellow maize; MS-GARCH(1,1) with student-t distribution (std) innovation performs better for sorghum; MS-gjrGARCH(1,1) with ged innovation performs better for wheat, sunflower and soya and MS-GARCH(1,1) with std innovation performs better for corn. In conclusion, this paper provided a practical guide for modelling agricultural commodity prices by MS regression and MS-GARCH processes. This paper can be good as a reference when facing modelling agricultural commodity price problems.

Keywords: commodity prices, MS-GARCH model, MS regression model, South Africa, volatility

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Authors: Da-Wei Wang, Liang Yang, Xuan-Long Peng, Mei-Chuan Kuo, Jen-Taut Yeh

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The tensile retention and waterproof properties of thermoplastic starch (TPS) resins were significantly enhanced by modifying with proper amounts of citric acid (CA) and by melt-blending with poly(lactic acid) (PLA), although no distinguished chemical reaction occurred between CA and starch molecules. As evidenced by Fourier transform infrared spectroscopy and Solid-state 13C Nuclear Magnetic Resonance analyses, disruption of intra and interhydrogen-bondings within starch molecules did occur during the modification processes of CA modified TPS (i.e. TPS100CAx) specimens. The tensile strength (σf) retention values of TPS specimens reduced rapidly from 27.8 to 20.5 and 0.4 MPa, respectively, as the conditioning time at 20°C/50% relative humidity (RH) increased from 0 to 7 and 70 days, respectively. While the elongation at break (εf) retention values of TPS specimens increased rapidly from 5.9 to 6.5 and 34.8%, respectively, as the conditioning time increased from 0 to 7 and 70 days. After conditioning at 20°C/50% RH for 70 days, the σf and εf retention values of the best prepared (TPS100CA0.1)30PLA70 specimen are equivalent to 85% and 167% of its initial σf and εf values, respectively, and are more than 105 times higher but 48% lower than those of TPS specimens conditioned at 20°C/50% RH for the same amount of time. Demarcated diffraction peaks, new melting endotherms of recrystallized starch crystals and distinguished ductile characteristics with drawn debris were found for many conditioned TPS specimens, however, only slight retrogradation effect and much less drawn debris was found for most conditioned TPS100CAx and/or (TPS100CA0.1)xPLAy specimens. The significantly improved water proof, tensile retention properties and relatively unchanged in retrogradation effect found for most conditioned TPS100CAx and/or (TPS100CA0.1)xPLAy specimens are apparently due to the efficient blocking of the moisture-absorbing hydroxyl groups (free or hydrogen bonded) by hydrogen-bonding CA with starch molecules during their modification processes.

Keywords: thermoplastic starch, hydrogen-bonding, water proof, strength retention

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Authors: Sanjivrao Katakam, Thanumoorthi I., Antony Gerald, Ratan Kulkarni, Shaju Nair

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With increasing energy costs and its impact on the business, sustainability today has evolved from a social expectation to an economic imperative. Therefore, finding methods to reduce cost has become a critical directive for Industry leaders. Effective energy management is the only way to cut costs. However, Energy Management has been a challenge because it requires a change in old habits and legacy systems followed for decades. Today exorbitant levels of energy and operational data is being captured and stored by Industries, but they are unable to convert these structured and unstructured data sets into meaningful business intelligence. It must be noted that for quick decisions, organizations must learn to cope with large volumes of operational data in different formats. Energy analytics not only helps in extracting inferences from these data sets, but also is instrumental in transformation from old approaches of energy management to new. This in turn assists in effective decision making for implementation. It is the requirement of organizations to have an established corporate strategy for reducing operational costs through visibility and optimization of energy usage. Energy analytics play a key role in optimization of operations. The paper describes how today energy data analytics is extensively used in different scenarios like reducing operational costs, predicting energy demands, optimizing network efficiency, asset maintenance, improving customer insights and device data insights. The paper also highlights how analytics helps transform insights obtained from energy data into sustainable solutions. The paper utilizes data from an array of segments such as retail, transportation, and water sectors.

Keywords: energy analytics, energy management, operational data, business intelligence, optimization

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Authors: Sunyoung Park

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Context: Talent management is a strategic approach that has received considerable attention in recent years to improve employee competency and organizational performance in many organizations. The implementation of talent management involves identifying objectives and positions within the organization, developing a pool of high-potential employees, and establishing appropriate HR functions to promote high employee and organizational performance. This study aims to investigate the relationship between talent management, HR functions, employee competency, and organizational performance in the South Korean context. Research Aim: The main objective of this study is to investigate the structural relationships among talent management, human resources (HR) functions, employee competency, and organizational performance. Methodology: To achieve the research aim, this study used a quantitative research method. Specifically, a total of 1,478 responses were analyzed using structural equation modeling based on data obtained from the Human Capital Corporate Panel (HCCP) survey in South Korea. Findings: The study revealed that talent management has a positive influence on HR functions and employee competency. Additionally, HR functions directly affect employee competency and organizational performance. Employee competency was found to be related to organizational performance. Moreover, talent management and HR functions indirectly affect organizational performance through employee competency. Theoretical Importance: This study provides empirical evidence of the relationship between talent management, HR functions, employee competency, and organizational performance in the South Korean context. The findings suggest that organizations should focus on developing appropriate talent management and HR functions to improve employee competency, which, in turn, will lead to better organizational performance. Moreover, the study contributes to the existing literature by emphasizing the importance of the relationship between talent management and HR functions in improving organizational performance.

Keywords: employee competency, HR functions, organizational performance, talent management

Procedia PDF Downloads 80