Search results for: financial stress

Authors: Chong Wang, Kellem M. Soares, Luis E. Kosteski

Abstract:

The problem of toughening in brittle materials reinforced by fibers is complex, involving all the mechanical properties of fibers, matrix, the fiber/matrix interface, as well as the geometry of the fiber. An appropriate method applicable to the simulation and analysis of toughening is essential. In this work, we performed simulations and analysis of toughening in brittle matrix reinforced by randomly distributed fibers by means of the discrete elements method. At first, we put forward a mechanical model of the contribution of random fibers to the toughening of composite. Then with numerical programming, we investigated the stress, damage and bridging force in the composite material when a crack appeared in the brittle matrix. From the results obtained, we conclude that: (i) fibers with high strength and low elasticity modulus benefit toughening; (ii) fibers with relatively high elastic modulus compared to the matrix may result in considerable matrix damage (spalling effect); (iii) employment of high-strength synthetic fiber is a good option. The present work makes it possible to optimize the parameters in order to produce advanced ceramic with desired performance. We believe combination of the discrete element method (DEM) with the finite element method (FEM) can increase the versatility and efficiency of the software developed.

Keywords: bridging stress, discrete element method, fiber reinforced composites, toughening

Procedia PDF Downloads 445

Authors: B. Niez, B. Moulia, J. Dlouha, E. Badel

Abstract:

Trees adjust their development to the environmental conditions they experience. Storms events of last decades showed that acclimation of trees to mechanical stresses due to wind is a very important process that allows the trees to sustain for long years. In the future, trees will experience new wind patterns, namely, more often strong winds and fewer daily moderate winds. Moreover, these patterns will go along with drought periods that may interact with the capacity of trees to adjust their growth to mechanical stresses due to wind. It is necessary to understand the mechanisms of wood functional acclimations to environmental conditions in order to predict their behaviour and in order to give foresters and breeders the relevant tools to adapt their forest management. This work aims to study how trees adjust the mechanical and hydraulic functions of their wood to environmental stresses and how this acclimation may be beneficial for the tree to resist to future stresses. In this work, young poplars were grown under controlled climatic conditions that include permanent environmental stress (daily mechanical stress of the stem by bending and/or hydric stress). Then, the properties of wood formed under these stressed conditions were characterized. First, hydraulic conductivity and sensibility to cavitation were measured at the tissue level in order to evaluate the changes in water transport capacity. Secondly, bending tests and Charpy impact tests were carried out at the millimetric scale to locally measure mechanical parameters such as elastic modulus, elastic limit or rupture energy. These experimental data allow evaluating the impacts of mechanical and water stress on the wood material. At the stem level, they will be merged in an integrative model in order to evaluate the beneficial aspect of wood acclimation for trees.

Keywords: acclimation, environmental stresses, hydraulics, mechanics, wood

Procedia PDF Downloads 206

Authors: Fahimeh Helali Soltanahmadi, Alireza Nourabdi

Abstract:

To investigate the effects of seed pretreatment on drought tolerance, an experimental Marigold (Calendula officinalis L) was tested in 2017-2018. A germination experiment was performed in the laboratory of Urmia University. The experiment was performed as a factorial experiment in a completely randomized design with three replications. The experimental treatments were dry levels of polyethylene glycol in four levels (control, -3, -6 and -9 bar) and treatments of Humic acid (72 mg / l), salicylic acid (2000 μmol) and ascorbic acid (200 ppm), and control were performed. The results of the germination experiment showed that with increasing drought levels caused by polyethylene glycol, germination indices were significantly reduced, so that the highest value obtained from the measured traits was observed in normal irrigation and in priming treatments, and the lowest amount of these traits was observed at the -9 bar drought level due to polyethylene glycol in the control treatment. The results of this study showed an increase in drought tolerance and improved Marigold germination under stress by applying seed priming with salicylic acid, which is recommended in sustainable and organic agriculture.

Keywords: Marigold, organic matter, seed pretreatment, drought stress, allometric coefficient

Procedia PDF Downloads 63

Authors: Siva Kumar Reddy, Anwesha Mukherjee, Abha Misra

Abstract:

Excellent energy absorption capability in carbon nanotubes (CNT) is shown in their bulk structure that behaves like super compressible foam. Furthermore, a tunable mechanical behavior of CNT foam is achieved using several methods like changing the concentration of precursors, polymer impregnation, non covalent functionalization of CNT microstructure etc. Influence of magnetic field on compressive behavior of magnetic CNT demonstrated an enhanced peak stress and energy absorption capability, which does not require any surface and structural modification of the foam. This presentation discusses the mechanical behavior of micro porous CNT foam that is impregnated in magnetic field responsive fluid. Magnetic particles are dispersed in a nonmagnetic fluid so that alignment of both particles and CNT could play a crucial role in controlling the stiffness of the overall structure. It is revealed that the compressive behavior of CNT foam critically depends on the fluid viscosity as well as magnetic field intensity. Both peak Stress and energy absorption in CNT foam followed a power law behavior with the increase in the magnetic field intensity. However, in the absence of magnetic field, both peak stress and energy absorption capability of CNT foam presented a linear dependence on the fluid viscosity. Hence, this work demonstrates the role magnetic filed in controlling the mechanical behavior of the foams prepared at nanoscale.

Keywords: carbon nanotubes, magnetic field, energy absorption capability and viscosity

Procedia PDF Downloads 305

Authors: Lynnette Lyzwinski, Liam Caffery, Matthew Bambling, Sisira Edirippulige

Abstract:

Introduction: A novel method of delivering mindfulness interventions for populations at risk of weight gain and stress-related eating, in particular, college students, is through mHealth. While there have been qualitative studies on mHealth for weight loss, there has not been a study on mHealth for weight loss using mindfulness that has explored student perspectives on a student centred mindfulness app and mindfulness-based text messages for eating and stress. Student perspective data will provide valuable information for creating a specific purpose weight management app and mindfulness-based text messages (for the Mindfulness App study). Methods: A qualitative focus group study was undertaken at St Lucia campus at the University of Queensland in March 2017. Students over the age of 18 were eligible to participate. Interviews were audiotaped and transcribed. One week following the focus group, students were sent sample mindfulness-based text messages based on their responses. Students provided written feedback via email. Data were analysed using N Vivo software. Results: The key themes in a future mindfulness-based app are a simple design interface, a focus on education/practical tips, and real-life practical exercises. Social media should be avoided. Key themes surrounding barriers include the perceived difficulty of mindfulness and a lack of proper guidance or knowledge. The mindfulness-based text messages were received positively. Key themes were creating messages with practical tips about how to be mindful and how to integrate mindful reflection of both one’s body and environment while on campus. Other themes including creating positive, inspirational messages. There was lack of agreement on the ideal timing for messages. Discussion: This is the first study that explored student perspectives on a mindfulness-app and mindfulness-based text messages for stress and weight management as a pre-trial study for the Mindfulness App trial for stress, lifestyle, and weight in students. It is important to consider maximizing the potential facilitators of use and minimize potential identified barriers when developing and designing a future mHealth mindfulness-based intervention tailored to the student consumer. Conclusion: Future mHealth studies may consider integrating mindfulness-based text messages in their interventions for weight and stress as this is a novel feature that appears to be acceptable for participants. The results of this focus group provide the basis to develop content for a specific purpose student app for weight management.

Keywords: mindfulness, college students, mHealth, weight loss

Procedia PDF Downloads 203

Authors: Wu Xiaoguang, Liu Jiaxin, Fang Miaomiao, Wei Saidong

Abstract:

There are many prestressed concrete prefabricated girder Bridges with small and medium span and the damage is serious. This paper mainly study the effect of prestress loss of prefabricated bridge bearing performance, through the establishment of ANSYS finite element model, from the condition of different prestress loss research, get the stress and strain data, draw curve, finally get the following conclusion: loss of prestress can reduce the ultimate bearing capacity of Bridges, the side span across the deflection value than the influence of times side span, the influence of the deflection in the midspan cross value. Therefore, the prestress loss and the effective prestress should be strictly considered in the design and construction process.

Keywords: across the deflection, loss of prestress, prefabricated girder bridge, the main tensile stress

Procedia PDF Downloads 149

Authors: Nandini Nalika, Suhel Parvez

Abstract:

Nanotechnology has emerged to play a vital role in developing all through the industrial world with an immense production of nanomaterials including nanoparticles (NPs). Many toxicological studies have confirmed that due to unique small size and physico-chemical properties of NPs (1-100nm), they can be potentially hazardous. Metallic NPs of small size have been shown to induce higher levels of cellular oxidative stress and can easily pass through the Blood Brain Barrier (BBB) and significantly accumulate in brain. With the wide applications of titanium dioxide nanoparticles (TNPs) in day-to-day life in form of cosmetics, paints, sterilisation and so on, there is growing concern regarding the deleterious effects of TNPs on central nervous system and mitochondria appear to be important cellular organelles targeted to the pro-oxidative effects of NPs and an important source that contribute significantly for the production of reactive oxygen species after some toxicity or an injury. The aim of our study was to elucidate the effect of TNPs in anatase form with different concentrations (5-50 µg/ml) following with various oxidative stress markers in isolated brain mitochondria as an in vitro model. Oxidative stress was determined by measuring the different oxidative stress markers like lipid peroxidation as well as the protein carbonyl content which was found to be significantly increased. Reduced glutathione content and major glutathione metabolizing enzymes were also modulated signifying the role of glutathione redox cycle in the pathophysiology of TNPs. The study also includes the mitochondrial enzymes (Complex 1, Complex II, complex IV, Complex V ) and the enzymes showed toxicity in a relatively short time due to the effect of TNPs. The study provide a range of concentration that were toxic to the neuronal cells and data pointing to a general toxicity in brain mitochondria by TNPs, therefore, it is in need to consider the proper utilization of NPs in the environment.

Keywords: mitochondria, nanoparticles, brain, in vitro

Procedia PDF Downloads 399

Authors: Hassan Medaghri Alaoui

Abstract:

The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.

Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco

Procedia PDF Downloads 125

Authors: Imran, Murad Ali Rahat

Abstract:

One of the factors affecting crop production and nutrient availability is acidic stress. The most important element decreasing under acidic stress conditions is phosphorus deficiency, which results in stunted growth and yield because of inefficient nutrient cycling. At the Agriculture Research Institute Mingora Swat, Pakistan, tests were carried out for the first time throughout the course of two consecutive summer seasons in 2016 (year 1) and 2017 (year 2) with the goal of increasing crop productivity and nutrient availability under acidic stress. Three organic supplies (peach nano-black carbon, compost, and dry-based peach wastes), three phosphorus rates, and two advantageous microorganisms (Trichoderma and PSB) were incorporated in the experimental treatments. The findings showed that, in conditions of acid stress, peach organic sources had a significant impact on yield and yield components. The application of nano-black carbon produced the greatest thousand seed weight of 164.6 g among organic sources, however the use of phosphorus solubilizing bacteria (PSB) for seed inoculation increased the thousand seed weight of beneficial microbes when compared to Trichoderma soil application. The thousand seed weight was significantly impacted by the quantities of phosphorus. The treatment of 100 kg P ha-1 produced the highest thousand seed weight (167.3 g), which was followed by 75 kg P ha-1 (162.5 g). Compost amendments provided the highest seed yield (2,140 kg ha-1) and were comparable to the application of nano-black carbon (2,120 kg ha-1). With peach residues, the lowest seed output (1,808 kg ha-1) was observed.Compared to seed inoculation with PSB (1,913 kg ha-1), soil treatment with Trichoderma resulted in the maximum seed production (2,132 kg ha-1). Applying phosphorus to the soybean crop greatly increased its output. The highest seed yield (2,364 kg ha-1) was obtained with 100 kg P ha-1, which was comparable to 75 kg P ha-1 (2,335 kg ha-1), while the lowest seed yield (1,569 kg ha-1) was obtained with 50 kg P ha-1. The average values showed that compared to control plots (3.3 g kg-1), peach organic sources produced greatest SOC (10.0 g kg-1). Plots with treated soil had a maximum soil P of 19.7 mg kg-1, while plots under stress had a maximum soil P of 4.8 mg kg-1. While peach compost resulted in the lowest soil P levels, peach nano-black carbon yielded the highest soil P levels (21.6 mg kg-1). Comparing beneficial bacteria with PSB to Trichoderma (18.3 mg/kg-1), the former also shown an improvement in soil P (21.1 mg kg-1). Regarding P treatments, the application of 100 kg P per ha produced significantly higher soil P values (26.8 mg /kg-1), followed by 75 kg P per ha (18.3 mg /kg-1), and 50 kg P ha-1 produced the lowest soil P values (14.1 mg /kg-1). Comparing peach wastes and compost to peach nano-black carbon (13.7 g kg-1), SOC rose. In contrast to PSB (8.8 g kg-1), soil-treated Trichoderma was shown to have a greater SOC (11.1 g kg-1). Higher among the P levels.

Keywords: acidic stress, trichoderma, beneficial microbes, nano-black carbon, compost, peach residues, phosphorus, soybean

Procedia PDF Downloads 80

Authors: Aditya Khanna, Andrei Kotousov

Abstract:

A novel method is presented for obtaining the stress field induced by an edge dislocation in a multilayered composite. To demonstrate the applications of the obtained solution, we consider the problem of an interfacial crack in a periodically layered bimaterial medium. The crack is modeled as a continuous distribution of edge dislocations and the Distributed Dislocation Technique (DDT) is utilized to obtain numerical results for the energy release rate (ERR). The numerical results correspond well with previously published results and the comparison serves as a validation of the obtained dislocation solution.

Keywords: distributed dislocation technique, edge dislocation, elastic field, interfacial crack, multi-layered composite

Procedia PDF Downloads 446

Authors: M. Sai Veerendra

Abstract:

Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project on developing a new data mining solution for AML Units in an international investment bank in Ireland, we survey recent data mining approaches for AML. In this paper, we present not only these approaches but also give an overview on the important factors in building data mining solutions for AML activities.

Keywords: data mining, clustering, money laundering, anti-money laundering solutions

Procedia PDF Downloads 540

Authors: Tejeet Singh, Virat Khanna

Abstract:

Composite materials have drawn considerable attention of engineers due to their light weight and application at high thermo-mechanical loads. With regard to the prediction of the life of high temperature structural components like rotating cylinders and the evaluation of their deterioration with time, it is essential to have a full knowledge of creep characteristics of these materials. Therefore, in the present study the secondary stage creep stresses and strain rates are estimated in thick-walled composite cylinders subjected to rotary inertia at different angular speeds. The composite cylinder is composed of aluminum matrix (Al) and reinforced with silicon carbide (SiC) particles which are uniformly mixed. The creep response of the material of the cylinder is described by threshold stress based creep law. The study indicates that with the increase in angular speed, the radial, tangential, axial and effective stress increases to a significant value. However, the radial stress remains zero at inner radius and outer radius due to imposed boundary conditions of zero pressure. Further, the stresses are tensile in nature throughout the entire radius of composite cylinder. The strain rates are also influenced in the same manner as that of creep stresses. The creep rates will increase significantly with the increase of centrifugal force on account of rotation.

Keywords: composite, creep, rotating cylinder, angular speed

Procedia PDF Downloads 447

Authors: Palak Patel

Abstract:

Mumbai is one of the largest cities of the country with a population of 12.44 million over 437 Sq.km, and it is known as financial hub of India. In early 20th century, with the expansion of industrialization and growth of port, a huge demand for housing was created. In response to this, government enacted rent controls. Over a period of time, due to rent controls, the existing rental housing stock has deteriorated. Therefore, in last 25 years, government has been focusing on redevelopment of these rental buildings, also called ‘Cessed buildings’, in order to provide better standard of living to the tenants and also, to supply new housing units in the market. In India, developers are the main players in the housing market as they are the supplier of maximum dwelling units in the market. Hence, government attempts are inclined toward facilitating developers for the cessed building redevelopment projects by incentivizing them through making special provisions in the development control regulations. This research focuses on the entire process of redevelopment by the developers and issues faced by the related stakeholders in the same to reduce the stress on housing. It also highlights the loopholes in the current system and inefficient functioning of the process. The research was carried out by interviewing various developers, tenants and landlords in the island city who have already gone through redevelopment. From the case studies, it is very evident that redevelopment is undoubtedly a huge profit making business. In some cases, developers make profit of almost double the amount of the investment. But yet, satisfactory results are not seen on ground. It clearly indicates that there are some issues faced by developers which have not been addressed. Some of these issues include cumbersome legal procedures, negotiations with landlords and tenants, congestion and narrow roads, small size of the plots, informal practicing of ‘Pagdi system’ and financial viability of the project. This research recommends the up gradation of the existing cessed buildings by sharing the repairing and maintenance cost between landlords and tenants and also, income levels of tenants can be traced and housing vouchers or incentives can be provided to those who actual need it so that landlord does not have to subsidize the tenants. For redevelopment, the current interventions are generalized in nature as it does not take on ground issues into the consideration. There is need to identify local issues and give area specific solutions. And also, government should play a role of mediator to ensure all the stakeholders are satisfied and project gets completed on time.

Keywords: cessed buildings, developers, government’s interventions, redevelopment, rent controls, tenants

Procedia PDF Downloads 187

Authors: Marko Čular

Abstract:

The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

Procedia PDF Downloads 300

Authors: Jin Huang

Abstract:

Research shows that asset-building policies have positive financial and non-financial impacts on children and families. To promote the development of asset-building policies for children in China, it is important to understand the current status of family savings for children. We use the data from the 2016 China Family Panel Studies and show only 16% of families have savings designated for children’s future education. Families with advantaged socioeconomic backgrounds are more likely to save and also save more for their children than their counterparts with disadvantaged backgrounds. Without large-scale and progressive policy interventions, families with disadvantaged backgrounds are less likely to build assets for children. Policy and practice implications for family social workers are discussed.

Keywords: assets, asset building, child, china, education, family, savings

Procedia PDF Downloads 87

Authors: Daniyar Bossinov

Abstract:

This paper considers a non-isothermal stationary waxy crude oil flow in a two-dimensional axisymmetric pipe with the transition of a Newtonian fluid to a non-Newtonian fluid. The viscosity and yield stress of waxy crude oil are highly dependent on temperature changes. During the hot pumping of waxy crude oil through a buried pipeline, a non-isothermal flow occurs due to heat transfer to the surrounding soil. This leads to a decrease in flow temperature, an increase in viscosity, the appearance of yield stress, the crystallization of wax, and the deposition of solid particles on the pipeline's inner wall. The deposition of oil solid particles reduces a pipeline flow area and leads to the appearance of a stagnant zone with thermal insulation in the near-wall area. Waxy crude oil properties change. A Newtonian fluid at low temperatures transits to a non-Newtonian fluid. The one-dimensional modeling of a non-isothermal waxy crude oil flow in a two-dimensional axisymmetric pipeline by traditional averaging of temperature and velocity over the pipeline cross-section does not allow for explaining a physics phenomenon. Therefore, in this work, a two-dimensional flow model and the heat transfer of waxy oil are constructed. The calculated data show the transition of a Newtonian fluid to a non-Newtonian fluid due to the heat exchange of waxy oil with the environment.

Keywords: non-isothermal laminar flow, waxy crude oil, stagnant zone, yield stress

Procedia PDF Downloads 31

Authors: S. Houcine Habib, B. Elkhalil Hachi, Mohamed Guesmi, Mohamed Haboussi

Abstract:

In this paper, dynamic fracture behaviors of cracked orthotropic structure are modeled using extended finite element method (X-FEM). In this approach, the finite element method model is first created and then enriched by special orthotropic crack tip enrichments and Heaviside functions in the framework of partition of unity. The mixed mode stress intensity factor (SIF) is computed using the interaction integral technique based on J-integral in order to predict cracking behavior of the structure. The developments of these procedures are programmed and introduced in a self-software platform code. To assess the accuracy of the developed code, results obtained by the proposed method are compared with those of literature.

Keywords: X-FEM, composites, stress intensity factor, crack, dynamic orthotropic behavior

Procedia PDF Downloads 572

Authors: Umer Masood Chaudry, Hafiz Muhammad Rehan Tariq, Chung-soo Kim, Tea-sung Jun

Abstract:

This study explored the influence of pre-stretching temperature on the microstructural characteristics and deformation behavior of AZ61 magnesium alloy and its implications on grain growth during subsequent annealing. AZ61 alloy was stretched to 5% plastic strain along rolling (RD) and transverse direction (TD) at room (RT) and cryogenic temperature (-150 oC, CT) followed by annealing at 320 oC for 1 h to investigate the twinning and dislocation evolution and its consequent effect on the flow stress, plastic strain and strain hardening rate. Compared to RT-stretched samples, significant improvement in yield stress, strain hardening rate and moderate reduction in elongation to failure were witnessed for CT-stretched samples along RD and TD. The subsequent EBSD analysis revealed the increased fraction of fine {10-12} twins and nucleation of multiple {10-12} twin variants caused by higher local stress concentration at the grain boundaries in CT-stretched samples as manifested by the kernel average misorientation. This higher twin fraction and twin-twin interaction imposed the strengthening by restricting the mean free path of dislocations, leading to higher flow stress and strain hardening rate. During annealing of the RT/CT-stretched samples, the residual strain energy and twin boundaries were decreased due to static recovery, leading to a coarse-grained twin-free microstructure. Strain induced boundary migration (SBIM) was found to be the predominant mechanism governing the grain growth during annealing via movement of high angle grain boundaries.

Keywords: magnesium, twinning, twinning variant selection, EBSD, cryogenic deformation

Procedia PDF Downloads 69

Authors: Yongseok Kim, Jeong-Min Lee, Hyunwoo Song, Junghan Yun, Jungin Byun, Jae-Mean Koo, Chang-Sung Seok

Abstract:

Thermal barrier coating(TBC) is applied for gas turbine components to protect the components from extremely high temperature condition. Since metallic substrate cannot endure such severe condition of gas turbines, delamination of TBC can cause failure of the system. Thus, delamination life of TBC is one of the most important issues for designing the components operating at high temperature condition. Thermal stress caused by thermally grown oxide(TGO) layer is known as one of the major failure mechanisms of TBC. Thermal stress by TGO mainly occurs at the interface between TGO layer and ceramic top coat layer, and it is strongly influenced by the thickness and shape of TGO layer. In this study, Isothermal oxidation is conducted on coin-type TBC specimens prepared by APS(air plasma spray) method. After the isothermal oxidation at various temperature and time condition, the thickness and shape(rumpling shape) of the TGO is investigated, and the test data is processed by numerical analysis. Finally, the test data is arranged into a mathematical prediction model with two variables(temperature and exposure time) which can predict the thickness and rumpling shape of TGO.

Keywords: thermal barrier coating, thermally grown oxide, thermal stress, isothermal oxidation, numerical analysis

Procedia PDF Downloads 343

Authors: Marijana Ivanov, Roman Šubić

Abstract:

The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

Procedia PDF Downloads 473

Authors: Elizabeth Snyman-Van Deventer

Abstract:

Numerous corporate scandals, which included investment scams, corporate malfeasance, unethical conduct and conflicts of interest, contributed to the collapse of WorldCom, Global Crossing, Xerox, Tyco, Enron, Sprint, AbbVie and Imclone and led to alarmed investors abandoning public securities markets and the tumbling of U.S stock markets. These companies suffered significant financial losses due to substantial and fraudulent misstatements and other illegal, corrupt or unethical practices. Executives were convicted of fraud and sentenced to prison. The corporate financial scandals, governance failures, and the ensuing public outcries led to mandatory legislation, e.g. the Sarbanes-Oxley Act in the USA. In European corporate scandals such as Parmalat, Royal Dutch Ahold, Vivendi, Adecco and Elan, the boards missed financial misrepresentations. In South Africa, Steinhoff is the most well-known example of corporate collapse, but now we can also add Tongaat Hulett. It seems as if fraud and corruption may be the major sources of these corporate collapses. In most instances, there is either the active involvement of the directors and managers in these fraudulent or corrupt practices, or there is a negligent or even intentional failure to act by directors to prevent these activities. However, besides directors and managers, auditors and lawyers failed in most of these companies to fulfil their professional duties. In most of these major collapses, the ethics of especially auditors and directors could be questioned. This paper will first provide a brief overview of corporate collapses. Secondly, the reasons for these collapses, with a focus on unethical conduct, will be discussed.

Keywords: professional duties, corporate collapses, ethical conduct, legal ethics, directors, auditors

Procedia PDF Downloads 64

Authors: Imen Latrous

Abstract:

Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

Procedia PDF Downloads 327

Authors: Khader A. Almhdawi, Hassan Alrabbaie

Abstract:

Background: Musculoskeletal disorders (MSDs) represent a significant challenge for registered nurses. To our best knowledge, there is no published study that investigated the prevalence of MSDs among nurses and their associated factors comprehensively in Jordan. This study aimed to find the prevalence of MSDs, their possible predictors among registered nurses in Jordanian hospitals. Methods: A cross-sectional design was used. Outcome measures included Nordic Musculoskeletal Questioner (NMQ), Depression Anxiety Stress Scale (DASS), Pittsburgh Sleep Quality Index (PSQI), IPAQ, and sociodemographic data. Prevalence of musculoskeletal complaints was reported using descriptive analysis. Logistic regression analyses were conducted to identify predictors of MSDs. Results: 597 nurses from different hospitals in Jordan participated in this study. Reported MSDs prevalence was the highest at neck (61.1%), followed by upper back (47.2%), shoulder (46.7%), wrist and hands (27.3%), and elbow (13.9%). Significant predictors of MSDs among Jordanian nurses included: being a female, poor sleep quality, high physical activity levels, poor ergonomics, increased workload, and mental stress. Conclusion: This study showed a high prevalence of MSDs among Jordanian nurses and identified their significant predictors. Future studies are needed to investigate the progressive nature of MSDs and their effective treatment strategies.

Keywords: musculoskeletal disorders, nursing, ergonomic, occupational stress

Procedia PDF Downloads 101

Authors: Zidane Abderrezaq

Abstract:

This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

Procedia PDF Downloads 486

Authors: Mamiza Haq

Abstract:

This paper examines the relevance of bank capital and charter value on bank insolvency and liquidity risks. Using an unbalanced panel of 2,111 unique local banks across 22 countries over 1998-2012, we find that both bank capital and charter value lower insolvency and liquidity risks, but this effect varies among conventional, Islamic, and Islamic-window banks. The risk constraining effect of bank capital becomes more prominent in the post 2007-2008 global financial crisis. Moreover, the relationships vary when conditioned upon other key bank-specific characteristics. For instance, the effect of capital on risk-reduction diminishes in the presence of high charter value for conventional-G7 and Islamic-window banks, during-GFC and pre-GFC period; respectively. Our findings have important policy implications related to bank safety. The results are robust to a range of robustness tests.

Keywords: bank capital, charter value, risk, financial crisis

Procedia PDF Downloads 276

Authors: Shakeela Ahmed, Nabanita Hazarika

Abstract:

The study aims to understand the effects of dementia on family members. The primary objectives of this research are to identify the main reasons for dementia among the elderly, understand the struggles and stigmas faced by the family members, and understand the effects of dementia on family members. The research employs a qualitative method and utilizes unstructured interviews with family members, counselors and caregivers. A descriptive research design is employed, and thematic analysis is used to analyze the data. A total of 17 family members in the age group of 54-69 years were interviewed, along with 2 counselors and 2 caretakers. In understanding dementia, the researcher has reviewed articles, and the studies revealed diverse meanings, symptoms, stages attached to dementia, and the complex interplay of protective and risk factors for dementia. However, in understanding dementia and its effects on families, there is a lack of studies in relation to the significant effects of dementia on family members and their role as primary caregivers. Therefore, an attempt has been made to understand the effects of dementia on family members, along with ways to improve dementia care for family members. The purpose of the study was to understand the effects and challenges of dementia on family members, the psychosocial reasons for dementia among the elderly, and the various struggles and stigmas faced by the family members of dementia patients. The major findings of the study indicate that people with dementia are cared for by family members at home. Dementia has a significant impact on family members. Family member's quality of life is affected; they experience feelings of anxiety, stress, irritation, frustration, and fear as they watch their loved ones struggle with dementia. They also experience financial strain, as dementia care, medication, and therapy are expensive. Another common impact is the role reversal of family members for their loved ones with dementia. There is a lack of awareness and social understanding about dementia, which leads to family members experiencing stigma and struggles. Caregivers are unable to take care of themselves, and many times, the primary caregiver, a spouse who is elderly, experiences acute stress and a physical inability to meet the demands of being a caregiver. Strategies to improve dementia care are understanding dementia, being patient with the person, showing love and care for the person, avoiding provoking the person, distracting them, offering reassurance, playing their favorite music, talking about things they love, going through old memories, following a structured routine, and remaining calm. The study has made an attempt to provide strategies to manage dementia care, understanding the struggles family members go through, and raising awareness about dementia that will enable further research and investigations.

Keywords: elderly, dementia, stigma, family members

Procedia PDF Downloads 32

Authors: Hassan Mohammadi Khujin

Abstract:

Tissue engineering is the science of tissues and complex organs creation using scaffolds, cells and biologically active components. Most cells require scaffolds to grow and proliferate. These temporary support structures for tissue regeneration are later replaced with extracellular matrix produced inside the body. Recent advances in additive manufacturing methods allow production of highly porous, complex three dimensional scaffolds suitable for cell growth and proliferation. The current paper investigates the mechanical properties, including elastic modulus and compressive strength, as well as fluid flow dynamics, including permeability and flow-induced shear stress of scaffolds with four triply periodic minimal surface (TPMS) configurations, namely the Schwarz primitive, the Schwarz diamond, the gyroid, and the Neovius structures. Higher porosity in all scaffold types resulted in lower mechanical properties. The permeability of the scaffolds was determined using Darcy's law with reference to geometrical parameters and the pressure drop derived from the computational fluid dynamics (CFD) analysis. Higher porosity enhanced permeability and reduced wall shear stress in all scaffold designs.

Keywords: highly porous scaffolds, tissue engineering, finite elements analysis, CFD analysis

Procedia PDF Downloads 79

Authors: Hamed Yaghoubi, Esmaeil Salahi, Fateme Taati

Abstract:

The effective shear and bulk viscosity, as well as dynamic viscosity, describe the rheological properties of the ceramic body during the liquid phase sintering process. The rheological parameters depend on the physical and thermomechanical characteristics of the material such as relative density, temperature, grain size, and diffusion coefficient and activation energy. The main goal of this research is to acquire a comprehensive understanding of the response of an incompressible viscose ceramic material during liquid phase sintering process such as stress-strain relations, sintering and hydrostatic stress, the prediction of anisotropic shrinkage and heterogeneous densification as a function of sintering time by including the simultaneous influence of gravity field, and frictional force. After raw materials analysis, the standard hard porcelain mixture as a ceramic body was designed and prepared. Three different experimental configurations were designed including midpoint deflection, sinter bending, and free sintering samples. The numerical method for the ceramic specimens during the liquid phase sintering process are implemented in the CREEP user subroutine code in ABAQUS. The numerical-experimental procedure shows the anisotropic behavior, the complete difference in spatial displacement through three directions, the incompressibility for ceramic samples during the sintering process. The anisotropic shrinkage factor has been proposed to investigate the shrinkage anisotropy. It has been shown that the shrinkage along the normal axis of casting sample is about 1.5 times larger than that of casting direction, the gravitational force in pyroplastic deformation intensifies the shrinkage anisotropy more than the free sintering sample. The lowest and greatest equivalent creep strain occurs at the intermediate zone and around the central line of the midpoint distorted sample, respectively. In the sinter bending test sample, the equivalent creep strain approaches to the maximum near the contact area with refractory support. The inhomogeneity in Von-Misses, pressure, and principal stress intensifies the relative density non-uniformity in all samples, except in free sintering one. The symmetrical distribution of stress around the center of free sintering sample, cause to hinder the pyroplastic deformations. Densification results confirmed that the effective bulk viscosity was well-defined with relative density values. The stress analysis confirmed that the sintering stress is more than the hydrostatic stress from start to end of sintering time so, from both theoretically and experimentally point of view, the sintering process occurs completely.

Keywords: anisotropic shrinkage, ceramic material, liquid phase sintering process, rheological properties, numerical-experimental procedure

Procedia PDF Downloads 344

Authors: Maciej Czarnecki

Abstract:

Even though growth is one of the most important strategic objectives for many enterprises, we know relatively little about this phenomenon. This research contributes to broaden our knowledge of managerial consequences of growth. Scales for measuring organizational development and growing pains were developed. Conceptual model of connections among growth, organizational development, growing pains, selected development factors and financial performance were examined. The research process contained literature review, 20 interviews with managers, examination of 12 raters’ opinions, pilot research and 7 point Likert scale questionnaire research on 138 Polish enterprises employing 50-249 people which increased their employment at least by 50% within last three years. Factor analysis, Pearson product-moment correlation coefficient, student’s t-test and chi-squared test were used to develop scales. High Cronbach’s alpha coefficients were obtained. The verification of correlations among the constructs was carried out with factor correlations, multiple regressions and path analysis. When the enterprise grows, it is necessary to implement changes in its structure, management practices etc. (organizational development) to meet challenges of growing complexity. In this paper, organizational development was defined as internal changes aiming to improve the quality of existing or to introduce new elements in the areas of processes, organizational structure and culture, operational and management systems. Thus; H1: Growth has positive effects on organizational development. The main thesis of the research is that if organizational development does not catch up　with growing complexity of growing enterprise, growing pains will arise (lower work comfort, conflicts, lack of control etc.). They will exert a negative influence on the financial performance and may result in serious organizational crisis or even bankruptcy. Thus; H2: Growth has positive effects on growing pains, H3: Organizational development has negative effects on growing pains, H4: Growing pains have negative effects on financial performance, H5: Organizational development has positive effects on financial performance. Scholars considered long lists of factors having potential influence on organizational development. The development of comprehensive model taking into account all possible variables may be beyond the capacity of any researcher or even statistical software used. After literature review, it was decided to increase the level of abstraction and to include following constructs in the conceptual model: organizational learning (OL), positive organization (PO) and high performance factors (HPF). H1a/b/c: OL/PO/HPF has positive effect on organizational development, H2a/b/c: OL/PO/HPF has negative effect on growing pains. The results of hypothesis testing: H1: partly supported, H1a/b/c: supported/not supported/supported, H2: not supported, H2a/b/c: not supported/partly supported/not supported, H3: supported, H4: partly supported, H5: supported. The research seems to be of a great value for both scholars and practitioners. It proved that OL and HPO matter for organizational development. Scales for measuring organizational development and growing pains were developed. Its main finding, though, is that organizational development is a good way of improving financial performance.

Keywords: organizational development, growth, growing pains, financial performance

Procedia PDF Downloads 221

Authors: Rayhaneh Amooaghaie, Masoomeh Nabaei

Abstract:

In this study, 200 µM Cd reduced relative seed germination, root elongation tolerance and seed germination tolerance index of Catharanthus roseus. The melatonin improved seed germination, germination velocity, seedling length and vigor index under Cd stress in a dose-dependent manner and the maximum biological responses obtained by 100 μM melatonin. However, 200-400 μM melatonin and 400 μM SNP had negative effects that evidenced as lower germination indices and poor establishment of seedlings. The cadmium suppressed amylase activity and contents of soluble and reducing sugars in germinating seeds, thereby reduced seed germination and subsequent seedling growth whereas increased electrolyte leakage. These Cd-induced inhibitory effects were ameliorated by melatonin.

Keywords: cadmium, Catharanthus roseus, melatonin, seed germination

Procedia PDF Downloads 180