Search results for: company size

Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

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The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

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Authors: Siva Chander Chabattula, Piyush Kumar Gupta, Debashis Chakraborty, Rama Shanker Verma

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Green nanoparticles have gotten a lot of attention because of their potential applications in tissue regeneration, bioimaging, wound healing, and cancer therapy. The physical and chemical methods to synthesize metal oxide nanoparticles have an environmental impact, necessitating the development of an environmentally friendly green strategy for nanoparticle synthesis. In this study, we used Annona muricata plant leaf extract to synthesize Zinc Oxide nanoparticles (Am-ZnO NPs), which were evaluated using UV/Visible spectroscopy, FTIR spectroscopy, X-Ray Diffraction, DLS, and Zeta potential. Nanoparticles had an optical absorbance of 355 nm and a net negative surface charge of ~ - 2.59 mV. Transmission Electron Microscope characterizes the Shape and size of the nanoparticles. The obtained Am-ZnO NPs are biocompatible and hemocompatible in nature. These nanoparticles caused an anti-cancer therapeutic effect in MIA PaCa2 and MOLT4 cancer cells by inducing oxidative stress, and a change in mitochondrial membrane potential leads to programmed cell death. Further, we observed a reduction in the size of lung cancer spheroids (act as tumor micro-environment) with doxorubicin as a positive control.

Keywords: Biomaterials, nanoparticle, anticancer activity, ZnO nanoparticles

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Authors: Shubha T., Latha H. K. E., Yogananth Karuppiah

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Accessing and sharing automobiles will become much simpler thanks to the wide range of automotive use cases made possible by digital keys. This study aims to provide digital keys to car owners and drivers so they can lock or unlock their automobiles and start the engine using a smartphone or other Bluetooth low energy-enabled mobile device. Private automobile owners can digitally lend their car keys to family members or friends without having to physically meet them, possibly for a certain period of time. Owners of company automobile fleets can electronically distribute car keys to staff members, possibly granting access for a given day or length of time. Customers no longer need to physically pick up car keys at a rental desk because automobile owners can digitally transfer keys with them.

Keywords: NFC, BLE, CCC, digital key, OEM

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Authors: A. N. Dagang, E. I. Ismail, Z. Zakaria

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This paper presents the analysis on the performance of monopole antenna with fluorescent tubes. In this research, the simulation and experimental approach is conducted. The fluorescent tube with different length and size is designed using Computer Simulation Technology (CST) software and the characteristics of antenna parameter are simulated throughout the software. CST was used to simulate antenna parameters such as return loss, resonant frequency, gain and directivity. Vector Network Analyzer (VNA) was used to measure the return loss of plasma antenna in order to validate the simulation results. In the simulation and experiment, the supply frequency is set starting from 1 GHz to 10 GHz. The results show that the return loss of plasma antenna changes when size of fluorescent tubes is varied, correspond to the different plasma properties. It shows that different values of plasma properties such as plasma frequency and collision frequency gives difference result of return loss, gain and directivity. For the gain, the values range from 2.14 dB to 2.36 dB. The return loss of plasma antenna offers higher value range from -22.187 dB to -32.903 dB. The higher the values of plasma frequency and collision frequency, the higher return loss can be obtained. The values obtained are comparative to the conventional type of metal antenna.

Keywords: plasma antenna, fluorescent tube, CST, plasma parameters

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Authors: Singh Divya, Rohan Singh, Anjana Pandey

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Reviewers' Comments: The study provides valuable insights into the anti-pneumonia properties of flavonoids against LytB. Authors could further validate findings through in vitro studies and consider exploring combination therapies for enhanced efficacy Response: Thankyou for your valuable comments. This study has been conducted further via experimental validation of the in-silico findings. The study uses Streptococcus pneumoniae D39 strain and examine the anti-pneumonia effect of kaempferol, quercetin and apigenin at various concentrations ranging from 9ug/ml to 200ug/ml. From results, it can be concluded that the kaempferol has shown the highest cytotoxic effect (72.1% of inhibition) against S. pneumoniae at concentration of 40ug/ml compare to apigenin and quercetin. The treatment of S. pneumoniae with concoction of kaempferol, quercetin and apigenin has also been performed, it is noted that conc. of 200ug/ml was most effect in achieving 75% inhibition. As S. pneumoniae D39 is a virulent encapsulated strain, the capsule interferes with the uptake of large size drug formulation. For instance, S. pneumoniae D39 with kaempferol and gold nano urchin (GNU) formulation, but the large size of GNU has resulted in reduced cytotoxic effect of kaempferol (27%). To achieve near 100% cytotoxic effect on the MDR S. pneumoniae D39 strain, the study will target the development of kaempferol-engineered gold nano-urchin’ conjugates, where gold nanocrystal will be of small size (less than or equal to 5nm) and decorated with hydroxyl, sulfhydryl, carboxyl, amine and groups. This approach is expected to enhance the anti-pneumonia effect of kaempferol (polyhydroxylated flavonoid). The study will also examine the interactive study among lung epithelial cell line (A549), kaempferol-engineered gold nano urchins, and S. pneumoniae for exploring the colonization, invasion, and biofilm formation of S. pneumoniae on A549 cells resembling the upper respiratory surface of humans.

Keywords: streptococcus pneumoniae, β-endo-Acetylglucosaminidase, apigenin, quercetin kaempferol, molecular dynamic simulation, interactome study and GROMACS

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Authors: Lenka Krsnakova, Petr Jirsak

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Prior research on facility location in supply chain is mostly focused on improvement of mathematical models. It is due to the fact that supply chain design has been for the long time the area of operational research that underscores mainly quantitative criteria. Qualitative criteria are still highly neglected within the supply chain design research. Facility location in the supply chain has become multi-criteria decision-making problem rather than single criteria decision due to changes of market conditions. Thus, both qualitative and quantitative criteria have to be included in the decision making process. The aim of this study is to emphasize the importance of qualitative criteria as key parameters of relevant mathematical models. We examine which criteria are taken into consideration when Czech companies decide about their facility location. A literature review on criteria being used in facility location decision making process creates a theoretical background for the study. The data collection was conducted through questionnaire survey. Questionnaire was sent to manufacturing and business companies of all sizes (small, medium and large enterprises) with the representation in the Czech Republic within following sectors: automotive, toys, clothing industry, electronics and pharmaceutical industry. Comparison of which criteria prevail in the current research and which are considered important by companies in the Czech Republic is made. Despite the number of articles focused on supply chain design, only minority of them consider qualitative criteria and rarely process supply chain design as a multi-criteria decision making problem. Preliminary results of the questionnaire survey outlines that companies in the Czech Republic see the qualitative criteria and their impact on facility location decision as crucial. Qualitative criteria as company strategy, quality of working environment or future development expectations are confirmed to be considered by Czech companies. This study confirms that the qualitative criteria can significantly influence whether a particular location could or could not be right place for a logistic facility. The research has two major limitations: researchers who focus on improving of mathematical models mostly do not mention criteria that enter the model. Czech supply chain managers selected important criteria from the group of 18 available criteria and assign them importance weights. It does not necessarily mean that these criteria were taken into consideration when the last facility location was chosen, but how they perceive that today. Since the study confirmed the necessity of future research on how qualitative criteria influence decision making process about facility location, the authors have already started in-depth interviews with participating companies to reveal how the inclusion of qualitative criteria into decision making process about facility location influence the company´s performance.

Keywords: criteria influencing facility location, Czech Republic, facility location decision-making, qualitative criteria

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Authors: Aleksandra Szurlej-Kielanska, Lucyna Pilacka, Dariusz Górecki

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The dynamic development of wind energy requires the simultaneous implementation of effective systems minimizing the risk of collisions between birds and wind turbines. Wind turbines are installed in more and more challenging locations, often close to the natural environment of birds. More and more countries and organizations are defining guidelines for the necessary functionality of such systems. The minimum bird detection distance, trajectory tracking, and shutdown time are key factors in eliminating collisions. Since 2020, we have continued the survey on the validation of the subsequent version of the BPS detection and reaction system. Bird protection system (BPS) is a fully automatic camera system which allows one to estimate the distance of the bird to the turbine, classify its size and autonomously undertake various actions depending on the bird's distance and flight path. The BPS was installed and tested in a real environment at a wind turbine in northern Poland and Central Spain. The performed validation showed that at a distance of up to 300 m, the BPS performs at least as well as a skilled ornithologist, and large bird species are successfully detected from over 600 m. In addition, data collected by BPS systems installed in Spain showed that 60% of the detections of all birds of prey were from individuals approaching the turbine, and these detections meet the turbine shutdown criteria. Less than 40% of the detections of birds of prey took place at wind speeds below 2 m/s while the turbines were not working. As shown by the analysis of the data collected by the system over 12 months, the system classified the improved size of birds with a wingspan of more than 1.1 m in 90% and the size of birds with a wingspan of 0.7 - 1 m in 80% of cases. The collected data also allow the conclusion that some species keep a certain distance from the turbines at a wind speed of over 8 m/s (Aquila sp., Buteo sp., Gyps sp.), but Gyps sp. and Milvus sp. remained active at this wind speed on the tested area. The data collected so far indicate that BPS is effective in detecting and stopping wind turbines in response to the presence of birds of prey with a wingspan of more than 1 m.

Keywords: protecting birds, birds monitoring, wind farms, green energy, sustainable development

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Authors: M. Khorshed Alam, H. Takaba

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The catalytic properties of metal usually change by intermixturing with another metal in polymer electrolyte fuel cells. Pt-Ru alloy is one of the much-talked used alloy to enhance the CO oxidation. In this work, we have investigated the CO coverage on the Pt2Ru3 nanoparticle with different atomic conformation of Pt and Ru using a combination of material informatics with computational chemistry. Density functional theory (DFT) calculations used to describe the adsorption strength of CO and H with different conformation of Pt Ru ratio in the Pt2Ru3 slab surface. Then through the Monte Carlo (MC) simulations we examined the segregation behaviour of Pt as a function of surface atom ratio, subsurface atom ratio, particle size of the Pt2Ru3 nanoparticle. We have constructed a regression equation so as to reproduce the results of DFT only from the structural descriptors. Descriptors were selected for the regression equation; xa-b indicates the number of bonds between targeted atom a and neighboring atom b in the same layer (a,b = Pt or Ru). Terms of xa-H2 and xa-CO represent the number of atoms a binding H2 and CO molecules, respectively. xa-S is the number of atom a on the surface. xa-b- is the number of bonds between atom a and neighboring atom b located outside the layer. The surface segregation in the alloying nanoparticles is influenced by their component elements, composition, crystal lattice, shape, size, nature of the adsorbents and its pressure, temperature etc. Simulations were performed on different size (2.0 nm, 3.0 nm) of nanoparticle that were mixing of Pt and Ru atoms in different conformation considering of temperature range 333K. In addition to the Pt2Ru3 alloy we also considered pure Pt and Ru nanoparticle to make comparison of surface coverage by adsorbates (H2, CO). Hence, we assumed the pure and Pt-Ru alloy nanoparticles have an fcc crystal structures as well as a cubo-octahedron shape, which is bounded by (111) and (100) facets. Simulations were performed up to 50 million MC steps. From the results of MC, in the presence of gases (H2, CO), the surfaces are occupied by the gas molecules. In the equilibrium structure the coverage of H and CO as a function of the nature of surface atoms. In the initial structure, the Pt/Ru ratios on the surfaces for different cluster sizes were in range of 0.50 - 0.95. MC simulation was employed when the partial pressure of H2 (PH2) and CO (PCO) were 70 kPa and 100-500 ppm, respectively. The Pt/Ru ratios decrease as the increase in the CO concentration, without little exception only for small nanoparticle. The adsorption strength of CO on the Ru site is higher than the Pt site that would be one of the reason for decreasing the Pt/Ru ratio on the surface. Therefore, our study identifies that controlling the nanoparticle size, composition, conformation of alloying atoms, concentration and chemical potential of adsorbates have impact on the steadiness of nanoparticle alloys which ultimately and also overall catalytic performance during the operations.

Keywords: anode catalysts, fuel cells, material informatics, Monte Carlo

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Authors: Graziele Zwielewski, Suzana R. Tolfo

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The globalization of markets, the need to develop competitive advantages and core competencies, among other things, lead organizations to increasingly cross borders to operate in other countries. The expatriation of professionals who go to work in another country besides their own becomes increasingly common. In order to generate data about this issue, research was conducted concerning the perception of expatriate employees concerning expatriation success. The research method used was case study through a qualitative approach. This research was done through interviews with five India expatriates and five China expatriates, interview with expatriate department heads and analysis of company documents. It was found that there are differences between the organizational perception and perception of expatriates of what constitutes mission success. The paper also provides suggestions for further research and suggestions for future expatriates.

Keywords: expatriation success, international assignments, success factors, success for expatriates

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Authors: Adhila Sandra Devy, Evangeline Syalomita Silitonga

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The landscape of corporate governance and accountability has led to the emergence of Integrated Reporting (IR) in response to the shortcomings of traditional reporting frameworks. Developed by The International Integrated Reporting Council (IIRC), IR aims to offer stakeholders a comprehensive view of a company’s performance by integrating financial and non-financial disclosures. This study analyzes literature on Integrated Reporting and Corporate Financial Performance from 2013 to 2024, employing a descriptive analysis methodology. 31 relevant articles were gathered from various sources, indicating a positive correlation between integrated reporting and financial performance, albeit without conclusive evidence of long-term impact.

Keywords: integrated reporting, corporate financial performance, corporate performance, firm performance, bibliometric analysis

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Authors: Reena Panchal, Maunik Jani, S. M. Vyas, G. R. Pandya

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Group V-VI compounds have a narrow bandgap, which makes them useful in many electronic devices. In bulk form, BiSbTe alloys are semi-metals or semi-conductors. They are used in thermoelectric and thermomagnetic devices, fabrication of ionizing, radiation detectors, LEDs, solid-state electrodes, photosensitive heterostructures, solar cells, ionic batteries, etc. Thin films of Bi₂Sb(₃-ₓ):Tex (where x = 0.1, 0.2, 0.3) of various thicknesses were grown by the thermal evaporation technique on a glass substrate at room temperature under a pressure of 10-₄ mbar for different time periods such as 10s, 15s, and 20s. The thickness of these thin films was also obtained by using the swaneopeol envelop method and compared those values with instrumental values. The optical absorption (%) data of thin films was measured in the wave number range of 650 cm-¹ to 4000 cm-¹. The band gap has been evaluated from these optical absorption data, and the results indicate that absorption occurred by a direct interband transition. It was discovered that when thickness decreased, the band gap increased; this dependency was inversely related to the square of thickness, which is explained by the quantum size effect. Using the values of bandgap, found the values of optical electronegativity (∆χ) and optical refractive index (η) using various relations.

Keywords: thin films, band gap, film thickness, optical study, size effect

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Authors: C. Lanzerstorfer, M. Hinterberger

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The iron content of the ore used is crucial for the productivity and coke consumption rate in blast furnace pig iron production. Therefore, most iron ore deposits are processed in beneficiation plants to increase the iron content and remove impurities. In several comminution stages, the particle size of the ore is reduced to ensure that the iron oxides are physically liberated from the gangue. Subsequently, physical separation processes are applied to concentrate the iron ore. The fine-grained ore concentrates produced need to be transported, stored, and processed. For smooth operation of these processes, the flow properties of the material are crucial. The flowability of powders depends on several properties of the material: grain size, grain size distribution, grain shape, and moisture content of the material. The flowability of powders can be measured using ring shear testers. In this study, the influence of the moisture content on the flowability for the Krivoy Rog magnetite iron ore concentrate was investigated. Dry iron ore concentrate was mixed with varying amounts of water to produce samples with a moisture content in the range of 0.2 to 12.2%. The flowability of the samples was investigated using a Schulze ring shear tester. At all measured values of the normal stress (1.0 kPa – 20 kPa), the flowability decreased significantly from dry ore to a moisture content of approximately 3-5%. At higher moisture contents, the flowability was nearly constant, while at the maximum moisture content the flowability improved for high values of the normal stress only. The results also showed an improving flowability with increasing consolidation stress for all moisture content levels investigated. The wall friction angle of the dust with carbon steel (S235JR), and an ultra-high molecule low-pressure polyethylene (Robalon) was also investigated. The wall friction angle increased significantly from dry ore to a moisture content of approximately 3%. For higher moisture content levels, the wall friction angles were nearly constant. Generally, the wall friction angle was approximately 4° lower at the higher wall normal stress.

Keywords: iron ore concentrate, flowability, moisture content, wall friction angle

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Authors: Abdul-Nasser El-Kassar, Walid Elgammal, Hisham Jawhar

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This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits.

Keywords: dividends payout ratio, profitability firm size, free cashflow, debt to equity ratio

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Authors: Mehdi Fuladipanah

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Sensitivity analysis as a technique is applied to determine influential input factors on model output. Variance-based sensitivity analysis method has more application compared to other methods because of including linear and non-linear models. In this paper, van Rijn’s movable bed roughness formula was selected to evaluate because of its reasonable results in sandy rivers. This equation contains four variables as: flow depth, sediment size,bBed form height and bed form length. These variable’s importance was determined using the first order of Fourier Amplitude Sensitivity Test. Sensitivity index was applied to evaluate importance of factors. The first order FAST based sensitivity indices test, explain 90% of the total variance that is indicating acceptance criteria of FAST application. More value of this index is indicating more important variable. Results show that bed form height, bed form length, sediment size and flow depth are more influential factors with sensitivity index: 32%, 24%, 19% and 15% respectively.

Keywords: sdensitivity analysis, variance, movable bed roughness formula, Sandy River

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Authors: Z. Babic, I. Veza, A. Balic, M. Crnjac

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The linear programming model is sometimes difficult to apply in real business situations due to its assumption of proportionality. This paper shows an example of how to use De Novo programming approach instead of linear programming. In the De Novo programming, resources are not fixed like in linear programming but resource quantities depend only on available budget. Budget is a new, important element of the De Novo approach. Two different production situations are presented: increasing costs and quantity discounts of raw materials. The focus of this paper is on advantages of the De Novo approach in the optimization of production plan for production company which produces souvenirs made from famous stone from the island of Brac, one of the greatest islands from Croatia.

Keywords: business process, De Novo programming, optimizing, production

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Authors: S. Jurado, E. Pazmino

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Determination of the medial axis of a porous media sample is a non-trivial problem of interest for several disciplines, e.g., hydrology, fluid dynamics, contaminant transport, filtration, oil extraction, etc. However, the computational tools available for researchers are limited and restricted. The primary aim of this work was to develop a series of algorithms to extract porosity, medial axis structure, and pore-throat size distributions from porous media domains. A complementary objective was to provide the algorithms as free computational software available to the academic community comprising researchers and students interested in 3D data processing. The burn algorithm was tested on porous media data obtained from High-Resolution X-Ray Microtomography (HRXMT) and idealized computer-generated domains. The real data and idealized domains were discretized in voxels domains of 550³ elements and binarized to denote solid and void regions to determine porosity. Subsequently, the algorithm identifies the layer of void voxels next to the solid boundaries. An iterative process removes or 'burns' void voxels in sequence of layer by layer until all the void space is characterized. Multiples strategies were tested to optimize the execution time and use of computer memory, i.e., segmentation of the overall domain in subdomains, vectorization of operations, and extraction of single burn layer data during the iterative process. The medial axis determination was conducted identifying regions where burnt layers collide. The final medial axis structure was refined to avoid concave-grain effects and utilized to determine the pore throat size distribution. A graphic user interface software was developed to encompass all these algorithms, including the generation of idealized porous media domains. The software allows input of HRXMT data to calculate porosity, medial axis, and pore-throat size distribution and provide output in tabular and graphical formats. Preliminary tests of the software developed during this study achieved medial axis, pore-throat size distribution and porosity determination of 100³, 320³ and 550³ voxel porous media domains in 2, 22, and 45 minutes, respectively in a personal computer (Intel i7 processor, 16Gb RAM). These results indicate that the software is a practical and accessible tool in postprocessing HRXMT data for the academic community.

Keywords: medial axis, pore-throat distribution, porosity, porous media

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Authors: Pitsanu Poonpetpun, Witthaya Mekhum, Warangkana Kongsil

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This research was an attempt to study work motivation of employees in Siam Thai Co., Ltd. The study took place in Rayong with 59 employees as participants. The research tool was questionnaires which consisted of sets of questions about company’s policy, management, executives and good relationship within the firm. The questionnaires style was rating scale with 5 score bands. The questionnaires were analyzed by percentage, frequency, mean and standard deviation. From the study, the result showed that policy and management were in moderate scale, executive and managers were in moderate scale and relationship within the firm were in high scale.

Keywords: motivation, job, performance, employees

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Authors: Shyam Shukla

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A brand is the identity of a specific product, service or business. A brand can take many forms, including a name, sign, symbol, color, combination or slogan. The word brand began simply as a way to tell one person's identity from another by means of a hot iron stamp. A legally protected brand name is called a trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service. A concept brand is a brand that is associated with an abstract concept, like AIDS awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity1. In this paper, it is tried to explore the significance of an intellectual capital for the branding of an Institution.

Keywords: brand, commodity, consumer, cultural values, intellectual capital, zonal cluster

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Maria Nikishova

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The study investigates the impact of the ongoing financial crisis, started in the 2^nd half of 2014, on marketing budgets spent by Fast-moving consumer goods companies. In these conditions, special importance is given to efficient possessory risk management systems. The main objective for establishing and developing possessory risk management systems for FMCG companies in a crisis is to analyze the data relating to the external environment and consumer behavior in a crisis. Another important objective for possessory risk management systems of FMCG companies is to develop measures and mechanisms to maintain and stimulate sales. In this regard, analysis of risks and threats which consumers define as the main reasons affecting their level of consumption become important. It is obvious that in crisis conditions the effective risk management systems responsible for development and implementation of strategies for consumer demand stimulation, as well as the identification, analysis, assessment and management of other types of risks of economic security will be the key to sustainability of a company. In terms of financial and economic crisis, the problem of forming and developing possessory risk management systems becomes critical not only in the context of management models of FMCG companies, but for all the companies operating in other sectors of the Russian economy. This study attempts to analyze the specifics of formation and development of company possessory risk management systems. In the modern economy, special importance among all the types of owner’s risks has the risk of reduction in consumer activity. This type of risk is common not only for the consumer goods trade. Study of consumer activity decline is especially important for Russia due to domestic market of consumer goods being still in the development stage, despite its significant growth. In this regard, it is especially important to form and develop possessory risk management systems for FMCG companies. The authors offer their own interpretation of the process of forming and developing possessory risk management systems within owner’s management models of FMCG companies as well as in Russian economy in general. Proposed methods and mechanisms of problem analysis of formation and development of possessory risk management systems in FMCG companies and the results received can be helpful for researchers interested in problems of consumer goods market development in Russia and overseas.

Keywords: FMCG companies, marketing budget, risk management, owner, Russian economy, organization, formation, development, system

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Authors: Merouane Salhi, Toufik Zebbiche, Omar Abada

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When the stagnation pressure of perfect gas increases, the specific heat and their ratio do not remain constant anymore and start to vary with this pressure. The gas does not remain perfect. Its state equation change and it becomes a real gas. In this case, the effects of molecular size and inter molecular attraction forces intervene to correct the state equation. The aim of this work is to show and discuss the effect of stagnation pressure on supersonic thermo dynamical, physical and geometrical flow parameters, to find a general case for real gas. With the assumptions that Berthelot’s state equation accounts for molecular size and inter molecular force effects, expressions are developed for analyzing supersonic flow for thermally and calorically imperfect gas lower than the dissociation molecules threshold. The designs parameters for supersonic nozzle like thrust coefficient depend directly on stagnation parameters of the combustion chamber. The application is for air. A computation of error is made in this case to give a limit of perfect gas model compared to real gas model.

Keywords: supersonic flow, real gas model, Berthelot’s state equation, Simpson’s method, condensation function, stagnation pressure

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Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

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The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

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Authors: Letemariam Gebreslassie Gebrekidan

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Water pollution is one of the most feared problems in modern societies, especially in developing countries like Ethiopia. Nanoparticles with controlled size and composition are of fundamental and technological interest as they provide solutions to technological and environmental challenges in the areas of solar energy conversion, catalysis, medicine, and water treatment. The synthesis of metallic nanoparticles is an active area of academic and, more importantly, application research in nanotechnology. Adsorption is a process in which pollutants are absorbed on a solid surface. A molecule (pollutant) adhered to the solid surface is called an adsorbate, and the solid surface is an adsorbent. Adsorption is controlled by various parameters such as temperature, the nature of the adsorbate and adsorbent, and the presence of other pollutants along with the experimental conditions (pH, concentration of pollutants, contact time, particle size, and temperature). Depending on the main problem of water pollution, this research is available on the adsorption of wastewater using silver nanoparticles extracted from phytolacca Dodecandra leaf. AgNP was synthesized from a 1mM aqueous solution of silver nitrate (AgNO3) and Phytolacca Dodecandra leaf extract at room temperature. The synthesized nanoparticles were characterized using UV/visible Spectrometer, FTIR and XRD. In the UV-Vis spectrum, The Surface Plasmon resonance (SPR) peak was observed at 414 nm, which confirmed the synthesis of AgNPs. FTIR spectroscopy, recorded from 4000 cm-1 to 400 cm-1, indicated the presence of a capping agent with the nanoparticles. From the XRD results, the average crystalline size was estimated to be 20 nm Confirming the nanoparticle nature of the obtained sample. Thus, the present method leads to the formation of silver nanoparticles with well-defined dimensions. The effects of different parameters like solution pH, adsorbent dose, contact time and initial concentration of dye were studied. The concentration of MB is 0.01 mg/L and 0.002 mg/L before and after adsorption, respectively. The wastewater containing MB was well purified using AgNP adsorbent.

Keywords: wastewater, silver nanoparticle, Characterization, adsorption, parameter

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Authors: Mohamed A. G. H. Abdalsadig, Amir Nourian, G. G. Nasr, M. Babaie

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Gas lift is one of the most common forms of artificial lift, particularly for offshore wells because of its relative down hole simplicity, flexibility, reliability, and ability to operate over a large range of rates and occupy very little space at the well head. Presently, petroleum industry is investing in exploration and development fields in offshore locations where oil and gas wells are being drilled thousands of feet below the ocean in high pressure and temperature conditions. Therefore, gas-lifted oil wells are capable of failure through gas lift valves which are considered as the heart of the gas lift system for controlling the amount of the gas inside the tubing string. The gas injection rate through gas lift valve must be controlled to be sufficient to obtain and maintain critical flow, also, gas lift valves must be designed not only to allow gas passage through it and prevent oil passage, but also for gas injection into wells to be started and stopped when needed. In this paper, smart gas lift valve has been used to investigate the effect of the valve port size, depth of injection and vertical lift performance on well productivity; all these aspects have been investigated using PROSPER simulator program coupled with experimental data. The results show that by using smart gas lift valve, the gas injection rate can be controlled which leads to improved flow performance.

Keywords: Effect of gas lift valve port size, effect water cut, vertical flow performance

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Authors: Aida Safiera, Andika Dwi Rubyantoro, Muhammad Bagus Prakasa

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Indonesia’s needs of diesel oil each year are increasing and getting urge. However, that problems are not supported by the amount of oil production that still low and also influenced by the fact of oil reserve is reduced. Because of that, the government prefers to import from other countries than fulfill the needs of diesel. To anticipate that problem, development of fuel based on renewable diesel is started. Renewable diesel is renewable alternative fuel that is hydrocarbon derivative from decarbonylation of non-edible oil. Indonesia is rich with natural resources, including nyamplung oil (Calophyllum inophyllum oil) and zeolite. Nyamplung oil (Calophyllum inophyllum oil) has many stearic acids which are useful on renewable diesel synthesis meanwhile zeolite is cheap. Zeolite is many used on high temperature reaction and cracking process on oil industry. Zeolite also has advantages which are a high crystallization, surface area and pores. In this research, the main focus that becomes our attention is on preparation and characterization of metal nanocrystal. Active site that used in this research is Nickel Molybdenum (NiMo). The advantage of nanocrystal with nano scale is having larger surface area. The synthesis of metal nanocrystal will be done with conventional preparation modification method that is called simple heating. Simple heating method is a metal nanocrystal synthesis method using continuous media which is polymer liquid. This method is a simple method and produces a small particles size in a short time. Influence of metal nanocrystal growth on this method is the heating profile. On the synthesis of nanocrystal, the manipulated variables are temperature and calcination time. Results to achieve from this research are diameter size on nano scale (< 100 nm) and uniform size without any agglomeration. Besides that, the conversion of synthesis of renewable diesel is high and has an equal specification with petroleum diesel. Catalyst activities are tested by FT-IR and GC-TCD on decarbonylation process with a pressure 15 bar and temperature 375 °C. The highest conversion from this reaction is 35% with selectivity around 43%.

Keywords: renewable diesel, simple heating, metal nanocrystal, NiMo, zeolite

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Authors: J. Roberto Lopez, Hened Saade, Graciela Morales, Javier Enriquez, Raul G. Lopez

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Implementation of systems based on nanostructures for drug delivery applications have taken relevance in recent studies focused on biomedical applications. Although there are several nanostructures as drugs carriers, the use of polymeric nanoparticles (PNP) has been widely studied for this purpose, however, the main issue for these nanostructures is the size control below 50 nm with a narrow distribution size, due to they must go through different physiological barriers and avoid to be filtered by kidneys (< 10 nm) or the spleen (> 100 nm). Thus, considering these and other factors, it can be mentioned that drug-loaded nanostructures with sizes varying between 10 and 50 nm are preferred in the development and study of PNP/drugs systems. In this sense, the Semicontinuous Heterophase Polymerization (SHP) offers the possibility to obtain PNP in the desired size range. Considering the above explained, methacrylic copolymer nanoparticles were obtained under SHP. The reactions were carried out in a jacketed glass reactor with the required quantities of water, ammonium persulfate as initiator, sodium dodecyl sulfate/sodium dioctyl sulfosuccinate as surfactants, methyl methacrylate and methacrylic acid as monomers with molar ratio of 2/1, respectively. The monomer solution was dosed dropwise during reaction at 70 °C with a mechanical stirring of 650 rpm. Nanoparticles of poly(methyl methacrylate-co-methacrylic acid) were loaded with acetylsalicylic acid (ASA, aspirin) by a chemical adsorption technique. The purified latex was put in contact with a solution of ASA in dichloromethane (DCM) at 0.1, 0.2, 0.4 or 0.6 wt-%, at 35°C during 12 hours. According to the boiling point of DCM, as well as DCM and water densities, the loading process is completed when the whole DCM is evaporated. The hydrodynamic diameter was measured after polymerization by quasi-elastic light scattering and transmission electron microscopy, before and after loading procedures with ASA. The quantitative and qualitative analyses of PNP loaded with ASA were measured by infrared spectroscopy, differential scattering calorimetry and thermogravimetric analysis. Also, the molar mass distributions of polymers were determined in a gel permeation chromatograph apparatus. The load capacity and efficiency were determined by gravimetric analysis. The hydrodynamic diameter results for methacrylic PNP without ASA showed a narrow distribution with an average particle size around 10 nm and a composition methyl methacrylate/methacrylic acid molar ratio equal to 2/1, same composition of Eudragit S100, which is a commercial compound widely used as excipient. Moreover, the latex was stabilized in a relative high solids content (around 11 %), a monomer conversion almost 95 % and a number molecular weight around 400 Kg/mol. The average particle size in the PNP/aspirin systems fluctuated between 18 and 24 nm depending on the initial percentage of aspirin in the loading process, being the drug content as high as 24 % with an efficiency loading of 36 %. These average sizes results have not been reported in the literature, thus, the methacrylic nanoparticles here reported are capable to be loaded with a considerable amount of ASA and be used as a drug carrier.

Keywords: aspirin, biocompatibility, biodegradable, Eudragit S100, methacrylic nanoparticles

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Authors: Jéssica Ferreira Rodrigues, Júlio Silvio De Sousa Bueno Filho, Vanessa Rios De Souza, Ana Carla Marques Pinheiro

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This study aimed to evaluate the implications of the block size and testing order on efficiency and precision of preference estimation for Dulce de leche samples. Efficiency was defined as the inverse of the average variance of pairwise comparisons among treatments. Precision was defined as the inverse of the variance of treatment means (or effects) estimates. The experiment was originally designed to test 16 treatments as a series of 8 Sudoku 16x16 designs being 4 randomized independently and 4 others in the reverse order, to yield balance in testing order. Linear mixed models were assigned to the whole experiment with 112 testers and all their grades, as well as their partially balanced subgroups, namely: a) experiment with the four initial EU; b) experiment with EU 5 to 8; c) experiment with EU 9 to 12; and b) experiment with EU 13 to 16. To record responses we used a nine-point hedonic scale, it was assumed a mixed linear model analysis with random tester and treatments effects and with fixed test order effect. Analysis of a cumulative random effects probit link model was very similar, with essentially no different conclusions and for simplicity, we present the results using Gaussian assumption. R-CRAN library lme4 and its function lmer (Fit Linear Mixed-Effects Models) was used for the mixed models and libraries Bayesthresh (default Gaussian threshold function) and ordinal with the function clmm (Cumulative Link Mixed Model) was used to check Bayesian analysis of threshold models and cumulative link probit models. It was noted that the number of samples tested in the same session can influence the acceptance level, underestimating the acceptance. However, proving a large number of samples can help to improve the samples discrimination.

Keywords: acceptance, block size, mixed linear model, testing order, testing order

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Authors: Fariba Dortaj, Reza Asadinejad, Akram Dortaj, Atena Baziyar

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The aim of this study was to determine the effect of distance education (based on MOOC) on the components of academic engagement of Kerman PNU. The research was quasi-experimental method that cluster sampling with an appropriate volume was used in this study (one class in experimental group and one class in controlling group). Sampling method is single-stage cluster sampling. The statistical society is students of Kerman Payam Noor University, which) were selected 40 of them as sample (20 students in the control group and 20 students in experimental group). To test the hypothesis, it was used the analysis of univariate and Co-covariance to offset the initial difference (difference of control) in the experimental group and the control group. The instrument used in this study is academic engagement questionnaire of Zerang (2012) that contains component of cognitive, behavioral and motivational engagement. The results showed that there is no significant difference between mean scores of academic components of academic engagement in experimental group and the control group on the post-test, after elimination of the pre-test. The adjusted mean scores of components of academic engagement in the experimental group were higher than the adjusted average of scores after the test in the control group. The use of technology-based education in distance education has been effective in increasing cognitive engagement, motivational engagement and behavioral engagement among students. Experimental variable with the effect size 0.26, predicted 26% of cognitive engagement component variance. Experimental variable with the effect size 0.47, predicted 47% of the motivational engagement component variance. Experimental variable with the effect size 0.40, predicted 40% of behavioral engagement component variance. So teaching with technology (MOOC) has a positive impact on increasing academic engagement and academic performance of students in educational technology. The results suggest that technology (MOOC) is used to enrich the teaching of other lessons of PNU.

Keywords: educational technology, distance education, components of academic engagement, mooc technology

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Authors: Jiabei Zhang, Ying Qi

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The purpose of this study was to develop a descriptive profile of the adapted physical activity research using single subject experimental designs. All research articles using single subject experimental designs published in the journal of Adapted Physical Activity Quarterly from 1984 to 2013 were employed as the data source. Each of the articles was coded in a subcategory of seven categories: (a) the size of sample; (b) the age of participants; (c) the type of disabilities; (d) the type of data analysis; (e) the type of designs, (f) the independent variable, and (g) the dependent variable. Frequencies, percentages, and trend inspection were used to analyze the data and develop a profile. The profile developed characterizes a small portion of research articles used single subject designs, in which most researchers used a small sample size, recruited children as subjects, emphasized learning and behavior impairments, selected visual inspection with descriptive statistics, preferred a multiple baseline design, focused on effects of therapy, inclusion, and strategy, and measured desired behaviors more often, with a decreasing trend over years.

Keywords: adapted physical activity research, single subject experimental designs, physical education, sport science

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Authors: Eunseop Yeom

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Platelets can be activated by the surrounding blood flows where a blood vessel is narrowed as a result of atherosclerosis. Numerous studies have been conducted to identify the relation between platelets activation and thrombus formation. To measure platelet adhesion, this study proposes an image analysis technique. Blood samples are delivered in the microfluidic channel, and then platelets are activated by a stenotic micro-channel with 90% severity. By applying proposed correlation mapping, which visualizes decorrelation of the streaming blood flow, the area of adhered platelets (APlatelet) was estimated without labeling platelets. In order to evaluate the performance of correlation mapping on the detection of platelet adhesion, the effect of tile size was investigated by calculating 2D correlation coefficients with binary images obtained by manual labeling and the correlation mapping method with different sizes of the square tile ranging from 3 to 50 pixels. The maximum 2D correlation coefficient is observed with the optimum tile size of 5×5 pixels. As the area of the platelet adhesion increases, the platelets plug the channel and there is only a small amount of blood flows. This image analysis could provide new insights for better understanding of the interactions between platelet aggregation and blood flows in various physiological conditions.

Keywords: platelet activation, correlation coefficient, image analysis, shear rate

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Authors: George B. Abaka-Wood, Massimiliano Zanin, Jonas Addai-Mensah, William Skinner

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The versatility of froth flotation has made it vital in the beneficiation of rare earth elements minerals from either high or low-grade ores. There has been a significant increase in the quantity of iron oxide silicate-rich tailings generated from the extraction of primary commodities such as copper and gold in Australia, which have been identified to contain very low-grade rare earth oxides (≤ 1%). There is a vast knowledge gap in the beneficiation of rare earth oxides from such tailings. The aim of this research is to investigate the feasibility of using fatty acids as collectors for the flotation recovery and upgrade of rare earth oxides from selected iron-oxide silicate-rich tailings. Two forms of fatty acid collectors (oleic acid and sodium oleate) were tested in this investigation. Flotation tests were carried out using a 1.2 L Denver D-12 cell. The effects of pulp pH, fatty acid dosage, particle size distribution (-150 +75 µm, -75 +38 µm and -38 µm) and conventional depressants (sodium silicate and starch) dosage on flotation recovery of rare earth oxides were investigated. A comparison of the flotation results indicated that sodium oleate was the more efficient fatty acid for rare earth oxides flotation at all the pulp pH investigated. The flotation performance was found to be particle size-dependent. Both sodium silicate and starch were unselective in decreasing the recovery of iron oxides and silicate minerals, respectively with the corresponding decrease in rare earth oxides recovery. Generally, iron oxides and silicate minerals formed the substantial fraction of the flotation concentrates obtained, both in the absence and presence of depressants, resulting in a generally low rare earth oxides upgrade, even though rare earth oxides recoveries were high. The flotation tests carried out on the tailings sample suggest the feasibility of rare earth oxides recovery using fatty acids, although particle size distribution and minerals liberation are key limiting factors in achieving selective rare earth oxides upgrade.

Keywords: depressants, flotation, oleic acid, sodium oleate

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