Search results for: freelance market structure

Authors: Reza Morad Sahraei, Roghayeh Kazeminahad

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Surveying the structure of NP in Persian, this article tries to show that most of NP constituents are either independent of each other or they are dependent to Determiner Phrase (=DP). The writer follows a uniform minimal analysis to illustrate the structural position of relevant constituents of DP, including Possessive Phrase, Ezafat Phrase and Quantifier Phrase, under the tree diagram. The most important point of this article is the claim that NP is mostly one of the dependents of DP. Hence, the final section of the article deals with and analyzes the structure of DP in Persian. The DP analysis undertaken in this article has some advantages. It can explain the internal relevance of all DP constituents and provides them all a uniform analysis. Also, the semantic importance of Persian genitive marker and its role in parsing is borne out.

Keywords: determiner phrase (DP), ezafat phrase (Ezaf P), noun phrase(NP), possessive phrase (PossP), quantifier phrase (QP)

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Authors: Alaa Abdellatif, Gabrièle Breda

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Background. Advanced therapy medicinal products (ATMPs) are innovative therapies that mainly target orphan diseases and high unmet medical needs. ATMP includes gene therapy medicinal products (GTMP), somatic cell therapy medicinal products (CTMP), and tissue-engineered therapies (TEP). Since legislation opened the way in 2007, 25 ATMPs have been approved in the EU, which is about the same amount as the U.S. Food and Drug Administration. However, not all of the ATMPs that have been approved have successfully reached the market and retained their approval. Objectives. We aim to understand all the factors limiting the market access to very promising therapies in a systemic approach, to be able to overcome these problems, in the future, with scientific, regulatory and commercial innovations. Further to recent reviews that focus either on specific countries, products, or dimensions, we will address all the challenges faced by ATMP development today. Methodology. We used mixed methods and a multi-level approach for data collection. First, we performed an updated academic literature review on ATMP development and their scientific and market access challenges (papers published between 2018 and April 2023). Second, we analyzed industry feedback from cell and gene therapy webinars and white papers published by providers and pharmaceutical industries. Finally, we established a comparative analysis of the regulatory guidelines published by EMA and the FDA for ATMP approval. Results: The main challenges in bringing these therapies to market are the high development costs. Developing ATMPs is expensive due to the need for specialized manufacturing processes. Furthermore, the regulatory pathways for ATMPs are often complex and can vary between countries, making it challenging to obtain approval and ensure compliance with different regulations. As a result of the high costs associated with ATMPs, challenges in obtaining reimbursement from healthcare payers lead to limited patient access to these treatments. ATMPs are often developed for orphan diseases, which means that the patient population is limited for clinical trials which can make it challenging to demonstrate their safety and efficacy. In addition, the complex manufacturing processes required for ATMPs can make it challenging to scale up production to meet demand, which can limit their availability and increase costs. Finally, ATMPs face safety and efficacy challenges: dangerous adverse events of these therapies like toxicity related to the use of viral vectors or cell therapy, starting material and donor-related aspects. Conclusion. As a result of our mixed method analysis, we found that ATMPs face a number of challenges in their development, regulatory approval, and commercialization and that addressing these challenges requires collaboration between industry, regulators, healthcare providers, and patient groups. This first analysis will help us to address, for each challenge, proper and innovative solution(s) in order to increase the number of ATMPs approved and reach the patients

Keywords: advanced therapy medicinal products (ATMPs), product development, market access, innovation

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Authors: Mary Cruz

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Founded from 1496 to 1502, Santo Domingo is the oldest European settlement in the Americas, inhabited without any discontinuity and was the first seat of Spanish power in the new world. Capital of the country since 1932.In this text, we discover Santo Domingo as an international tourist center, Urban Structure, Eco-tourism, Contamination and other issues related to tourism and development of this city. Founded from 1496 to 1502, Santo Domingo is the oldest European settlement in the Americas, inhabited without any discontinuity and was the first seat of Spanish power in the new world. Capital of the country since 1932. Encouraged by the United Nations and the World Bank, many Caribbean governments have encouraged tourism from the 1950s to boost their Third World economies. In this text, we discover Santo Domingo as an international tourist center, Urban Structure, Eco-tourism, Contamination and challenges of the first tourist destination in the Caribbean.

Keywords: eco-tourism, urban structure, contamination, development

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Authors: P. G. Romeo

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A Lie group is a highly sophisticated structure which is a smooth manifold whose underlying set of elements is equipped with the structure of a group such that the group multiplication and inverse-assigning functions are smooth. This structure was introduced by the Norwegian mathematician So- phus Lie who founded the theory of continuous groups. The Lie groups are well developed and have wide applications in areas including Mathematical Physics. There are several advances and generalizations for Lie groups and Lie groupoids is one such which is termed as a "many-object generalization" of Lie groups. A groupoid is a category whose morphisms are all invertible, obviously, every group is a groupoid but not conversely. Definition 1. A Lie groupoid G ⇒ M is a groupoid G on a base M together with smooth structures on G and M such that the maps α, β: G → M are surjective submertions, the object inclusion map x '→ 1x, M → G is smooth, and the partial multiplication G ∗ G → G is smooth. A bundle is a triple (E, p, B) where E, B are topological spaces p: E → B is a map. Space B is called the base space and space E is called total space and map p is the projection of the bundle. For each b ∈ B, the space p−1(b) is called the fibre of the bundle over b ∈ B. Intuitively a bundle is regarded as a union of fibres p−1(b) for b ∈ B parametrized by B and ’glued together’ by the topology of the space E. A cross-section of a bundle (E, p, B) is a map s: B → E such that ps = 1B. Example 1. Given any space B, a product bundle over B with fibre F is (B × F, p, B) where p is the projection on the first factor. Definition 2. A principal bundle P (M, G, π) consists of a manifold P, a Lie group G, and a free right action of G on P denoted (u, g) '→ ug, such that the orbits of the action coincide with the fibres of the surjective submersion π : P → M, and such that M is covered by the domains of local sections σ: U → P, U ⊆ M, of π. Definition 3. A Lie group bundle, or LGB, is a smooth fibre bundle (K, q, M ) in which each fibre (Km = q−1(m), and the fibre type G, has a Lie group structure, and for which there is an atlas {ψi: Ui × G → KUi } such that each {ψi,m : G → Km}, is an isomorphism of Lie groups. A morphism of LGB from (K, q, M ) to (K′, q′, M′) is a morphism (F, f ) of fibre bundles such that each Fm: Km → K′ is a morphism of Lie groups. In this paper, we will be discussing the Lie groupoid bundles. Here it is seen that to a Lie groupoid Ω on base B there is associated a collection of principal bundles Ωx(B, Ωx), all of which are mutually isomorphic and conversely, associated to any principal bundle P (B, G, p) there is a groupoid called the Ehresmann groupoid which is easily seen to be Lie. Further, some interesting properties of the category of Lie groupoids and bundles will be explored.

Keywords: groupoid, lie group, lie groupoid, bundle

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Authors: Jian Zheng

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Three-dimensional (3D) network structure has been recognized as an effective approach to enhance the mechanical and thermal conductive properties of polymeric composites. However, it has not been applied in energetic materials. In this work, a fluoropolymer based composite with vertically oriented and interconnected 3D graphite network was fabricated for polymer bonded explosives (PBXs). Here, the graphite and graphene oxide platelets were mixed, and self-assembled via rapid freezing and using crystallized ice as the template. The 3D structure was finally obtained by freezing-dry and infiltrating with the polymer. With the increasing of filler fraction and cooling rate, the thermal conductivity of the polymer composite was significantly improved to 2.15 W m⁻¹ K⁻¹ by 1094% than that of pure polymer. Moreover, the mechanical properties, such as tensile strength and elastic modulus, were enhanced by 82% and 310%, respectively, when the highly ordered structure was embedded in the polymer. We attribute the increased thermal and mechanical properties to this 3D network, which is beneficial to the effective heat conduction and force transfer. This study supports a desirable way to fabricate the strong and thermal conductive fluoropolymer composites used for the high-performance polymer bonded explosives (PBXs).

Keywords: mechanical properties, oriented network, graphite polymer composite, thermal conductivity

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Authors: Hugo Badia

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This research answers which is the most suitable transit network structure to serve specific demand requirements in an increasing urban dispersion process. Two main approaches of network design are found in the literature. On the one hand, a traditional answer, widespread in our cities, that develops a high number of lines to connect most of origin-destination pairs by direct trips; an approach based on the idea that users averse to transfers. On the other hand, some authors advocate an alternative design characterized by simple networks where transfer is essential to complete most of trips. To answer which of them is the best option, we use a two-step methodology. First, by means of an analytical model, three basic network structures are compared: a radial scheme, starting point for the other two structures, a direct trip-based network, and a transfer-based one, which represent the two alternative transit network designs. The model optimizes the network configuration with regard to the total cost for each structure. For a scenario of dispersion, the best alternative is the structure with the minimum cost. This dispersion degree is defined in a simple way considering that only a central area attracts all trips. If this area is small, we have a high concentrated mobility pattern; if this area is too large, the city is highly decentralized. In this first step, we can determine the area of applicability for each structure in function to that urban dispersion degree. The analytical results show that a radial structure is suitable when the demand is so centralized, however, when this demand starts to scatter, new transit lines should be implemented to avoid transfers. If the urban dispersion advances, the introduction of more lines is no longer a good alternative, in this case, the best solution is a change of structure, from direct trips to a network based on transfers. The area of applicability of each network strategy is not constant, it depends on the characteristics of demand, city and transport technology. In the second step, we translate analytical results to a real case study by the relationship between the parameters of dispersion of the model and direct measures of dispersion in a real city. Two dimensions of the urban sprawl process are considered: concentration, defined by Gini coefficient, and centralization by area based centralization index. Once it is estimated the real dispersion degree, we are able to identify in which area of applicability the city is located. In summary, from a strategic point of view, we can obtain with this methodology which is the best network design approach for a city, comparing the theoretical results with the real dispersion degree.

Keywords: analytical network design model, network structure, public transport, urban dispersion

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Authors: Wakkai Hosanna Hussaini

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A formal structure of the English clause is composed of at least two elements – subject and verb, in structural grammar and at least one element – predicate, in systemic (functional) and generative grammars. Each of the elements can be represented by a word or group (of words). In modern English structure, very often speakers merge two words as one with the use of an apostrophe. Each of the two words can come from different elements or belong to the same element. In either case, result of the merger is called contraction. Although contractions constitute a part of modern English structure, they are considered informal in nature (more frequently used in spoken than written English) that is why they were initially viewed as constituting an evidence of language deterioration. To our knowledge, no formal syntactic theory yet has been particular on the contractions because of its deviation from the formal rules of syntax that seek to identify the elements that form a clause in English. The inconsistency between the formal rules and a contraction is established when two words representing two elements in a non-contraction are merged as one element to form a contraction. Thus the paper presents the various syntactic issues as effects arising from converting non-contracted to contracted forms. It categorizes English contractions and describes each category according to its syntactic relations (position and relationship) and morphological formation (form and content) as integral part of modern structure of English. This is a position paper as such the methodology is observational, descriptive and explanatory/analytical based on existing related literature. The inventory of English contractions contained in books on syntax forms the data from where specific examples are drawn. It is noted as conclusion that the existing syntactic theories were not originally established to account for English contractions. The paper, when published, will further expose the inadequacies of the existing syntactic theories by giving more reasons for the establishment of a more comprehensive syntactic theory for analyzing English clause/sentence structure involving contractions. The method used reveals the extent of the inadequacies in applying the three major syntactic theories: structural, systemic (functional) and generative, on the English contractions. Although no theory is without scope, shying away from the three major theories from recognizing the English contractions need to be broken because of the increasing popularity of its use in modern English structure. The paper, therefore, recommends that as use of contraction gains more popular even in formal speeches today, there is need to establish a syntactic theory to handle its patterns of syntactic relations and morphological formation.

Keywords: application, effects, English contractions, syntactic theories

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Authors: Timothy Kayode Samson, Adedoyin Isola Lawal

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The past five years have shown a sharp increase in public interest in the crypto market, with its market capitalization growing from $100 billion in June 2017 to $2158.42 billion on April 5, 2022. Despite the outrageous nature of the volatility of cryptocurrencies, the use of skewed error innovation distributions in modelling the volatility behaviour of these digital currencies has not been given much research attention. Hence, this study models the volatility of 5 largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, Binance coin, and USD Coin) using four variants of GARCH models (GJR-GARCH, sGARCH, EGARCH, and APARCH) estimated using three skewed error innovation distributions (skewed normal, skewed student- t and skewed generalized error innovation distributions). Daily closing prices of these currencies were obtained from Yahoo Finance website. Finding reveals that the Binance coin reported higher mean returns compared to other digital currencies, while the skewness indicates that the Binance coin, Tether, and USD coin increased more than they decreased in values within the period of study. For both Bitcoin and Ethereum, negative skewness was obtained, meaning that within the period of study, the returns of these currencies decreased more than they increased in value. Returns from these cryptocurrencies were found to be stationary but not normality distributed with evidence of the ARCH effect. The skewness parameters in all best forecasting models were all significant (p<.05), justifying of use of skewed error innovation distributions with a fatter tail than normal, Student-t, and generalized error innovation distributions. For Binance coin, EGARCH-sstd outperformed other volatility models, while for Bitcoin, Ethereum, Tether, and USD coin, the best forecasting models were EGARCH-sstd, APARCH-sstd, EGARCH-sged, and GJR-GARCH-sstd, respectively. This suggests the superiority of skewed Student t- distribution and skewed generalized error distribution over the skewed normal distribution.

Keywords: skewed generalized error distribution, skewed normal distribution, skewed student t- distribution, APARCH, EGARCH, sGARCH, GJR-GARCH

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Authors: Sekkak Abdelmalek

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The aim of this paper is to establish an energy balance of the drivetrain of a low power electric vehicle (around ten kilowatts). The study is based on two topologies of power electronics converter, the voltage source inverter and cascaded H-Bridge inverter. For each of these solutions, two voltage levels are studied for the drivetrain. At first a discussion of cascaded H-Bridge inverters will be performed on the potential benefits of this structure for its use to other functions such as macroscopic batteries management system. In a second step, the performances of the traction chain are compared according to the structure of the power converter and the voltage level of the traction chain.

Keywords: power electronics, static converters, cascaded H-Bridge, traction chain, efficiency, losses, batteries balancing

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Authors: Andrew Clark

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McCauley, Bassler, and Gunaratne show that integration I(d) processes as used in economics and finance do not necessarily produce stationary increments, which are required to determine causality in both the short term and the long term. This paper follows their lead and shows I(d) aluminum cash and futures log prices at daily and weekly intervals do not have stationary increments, which means prior causality studies using I(d) processes need to be re-examined. Wavelets based on undifferenced cash and futures log prices do have stationary increments and are used along with transfer entropy (versus cointegration) to measure causality. Wavelets exhibit causality at most daily time scales out to 1 year, and weekly time scales out to 1 year and more. To determine stationarity, localized stationary wavelets are used. LSWs have the benefit, versus other means of testing for stationarity, of using multiple hypothesis tests to determine stationarity. As informational flows exist between cash and futures at daily and weekly intervals, the aluminum market is efficient. Therefore, hedges used by producers and consumers of aluminum need not have a big concern in terms of the underestimation of hedge ratios. Questions about arbitrage given efficiency are addressed in the paper.

Keywords: transfer entropy, nonstationary increments, wavelets, localized stationary wavelets, localized stationary wavelets

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Authors: Ambra Giovannelli, Coriolano Salvini

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Many efforts have been spent in the design and development of Concentrated Solar Power (CPS) Plants worldwide. Most of them are for on-grid electricity generation and they are large plants which can benefit from the economies of scale. Nevertheless, several potential applications for Small and Medium-Scale CSP plants can be relevant in the industrial sector as well as for off-grid purposes (i.e. in rural contexts). In a wide range of industrial processes, CSP technologies can be used for heat generation replacing conventional primary sources. For such market, proven technologies (usually hybrid solutions) already exist: more than 100 installations, especially in developing countries, are in operation and performance can be verified. On the other hand, concerning off-grid applications, solar technologies are not so mature. Even if the market offers a potential deployment of such systems, especially in countries where the access to grid is strongly limited, optimized solutions have not been developed yet. In this context, steam power plants can be taken into consideration for medium scale installations, due to the recent results achieved with direct steam generation systems based on paraboloidal dish or Fresnel lens solar concentrators. Steam at 4.0-4.5 MPa and 500°C can be produced directly by means of innovative solar receivers (some prototypes already exist). Although it could seem a promising technology, presently, steam turbines commercially available do not cover the required cycle specifications. In particular, while low-pressure turbines already exist on the market, high-pressure groups, necessary for the abovementioned applications, are not available. The present paper deals with the preliminary design of a high-pressure steam turbine group for a medium-scale CSP plant (200-1000 kWe). Such a group is arranged in a single geared package composed of four radial expander wheels. Such wheels have been chosen on the basis of automotive turbocharging technology and then modified to take the new requirements into account. Results related to the preliminary geometry selection and to the analysis of the high-pressure turbine group performance are reported and widely discussed.

Keywords: concentrated solar power (CSP) plants, steam turbine, radial turbine, medium-scale power plants

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Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: algorithmic trading, automated trading systems, high-frequency trading, DAX Deutscher Aktienindex

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Authors: Alejandro Carrasco-Pena, Mahmoud Omer, Nina Orlovskaya

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The results of studies of microstructure, mechanical behavior, vibrational response, and flow field analysis of critically endangered staghorn coral (Acropora cervicornis) skeletons are reported. The CaCO₃ aragonite structure of a chemically-cleaned coral skeleton of A. cervicornis was studied by optical microscopy and computer tomography. The mechanical behavior was studied using uniaxial compression and Vickers hardness technique. The average maximum stress measured during skeleton uniaxial compression was 10.7 ± 2.24 MPa and Vickers hardness was 3.56 ± 0.31 GPa. The vibrational response of the aragonite structure was studied by micro-Raman spectroscopy, which showed a substantial dependence of the structure on applied compressive stress. The flow-field around a single coral skeleton forming vortices in the wake of the moving skeleton was measured using Particle Image Velocimetry (PIV). The results are important for further analysis of time-dependent mechanical fatigue behavior and predicting the lifetime of staghorn corals.

Keywords: failure, mechanical properties, microstructure, Raman spectroscopy

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Authors: Ahmed Sameer El Khatib

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The aim of the present paper is to examine the revenue efficiency of the Indonesian Islamic banking sector. The study also seeks to investigate the potential internal (bank specific) and external (macroeconomic) determinants that influence the revenue efficiency of Indonesian domestic Islamic banks. We employ the whole gamut of domestic and foreign Islamic banks operating in the Indonesian Islamic banking sector during the period of 2009 to 2018. The level of revenue efficiency is computed by using the Data Envelopment Analysis (DEA) method. Furthermore, we employ a panel regression analysis framework based on the Ordinary Least Square (OLS) method to examine the potential determinants of revenue efficiency. The results indicate that the level of revenue efficiency of Indonesian domestic Islamic banks is lower compared to their foreign Islamic bank counterparts. We find that bank market power, liquidity, and management quality significantly influence the improvement in revenue efficiency of the Indonesian domestic Islamic banks during the period under study. By calculating these efficiency concepts, we can observe the efficiency levels of the domestic and foreign Islamic banks. In addition, by comparing both cost and profit efficiency, we can identify the influence of the revenue efficiency on the banks’ profitability.

Keywords: Islamic Finance, Islamic Banks, Revenue Efficiency, Data Envelopment Analysis

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Authors: Mikołaj Szyca

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Friction elements of rail vehicle brakes are more and more often made of composite materials that displace cast iron. Materials are tested primarily in terms of their dynamic abilities, but the material structure of brake pads and linings changes during operation. In connection with the above, the changes taking place in the tested rubbing materials were analyzed using X-ray computed tomography in order to obtain data on changes in the structure of the material immediately after production and after a certain number of operating cycles. The implementation of microtomography research for experimental work on new friction materials may result in increasing the potential for the production of new composites by eliminating unfavorable material factors and, consequently, improving the dynamic parameters.

Keywords: composite materials, friction pair, X-ray computed microtomography, railway

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Authors: Van Tran Thi Thuy, Dukjoon Kim

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A series of pH- and thermosensitive poly(N-isopropyl acrylamide-co-acrylic acid) were synthesized by radical polymerization and grafted on poly succinimide backbones. The poly succinimide derivatives synthesized were coated on iron oxide magnetic nanoparticles for potential applications in drug delivery systems with theranostic and molecular imaging. The structure of polymer shell was confirmed by FT-IR, H-NMR spectroscopies. Its thermal behavior was tested by UV-Vis spectroscopy. The particle size and its distribution are measured by dynamic light scattering (DLS) and transmission electron microscope (TEM). The mean diameter of the core-shell structure is from 20 to 80 nm.

Keywords: magnetic, nano, PNIPAM, polysuccinimide

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Authors: Hamed Rahmati

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Nowadays, increasing demand for electric energy makes applying high-temperature superconductors inevitable. However, the most important problem of the superconductors is their critical temperature, which necessitates using a cryogenic system for keeping these substances’ temperatures lower than the critical level. Cryogenic systems used for this reason are not efficient enough, and keeping these large systems maintained is costly. Moreover, the low critical temperature of superconductors has delayed using them in electrical equipment. In this article, at first, characteristics of three superconductors, magnesium diboride (MgB2), yttrium barium copper oxide (YBCO), and iron-based superconductors (FeSC), have been analyzed and a new structure of YBCO superconductors is presented. Generally, YBCO (YBa2Cu7O2) has a weak mechanical structure. By introducing some changes in its configuration and adding one silver atom (Ag) to it, its mechanical characteristics improved significantly. Moreover, for each added atom, a star-form structure was introduced in which changing the location of Ag atom led to considerable changes in temperature. In this study, Ag has been added by applying two accurate methods named random and substitute ones. The results of both methods have been examined. It has been shown that adding Ag by applying the substitute method can improve the mechanical properties of the superconductor in addition to increasing its critical temperature. In the mentioned strategy (using the substitute method), the critical temperature of the superconductor was measured up to 99 Kelvin. This new structure is usable in designing superconductors’ rings to be applied in superconducting magnetic energy storage (SMES). It can also lead to a reduction in the cryogenic system size, a decline in conductor wastes, and a decrease in costs of the whole system.

Keywords: critical temperature, cryogenic system, high-temperature superconductors, YBCO

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Authors: Li Long, Thomas Ortlepp

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A theoretical model for the optimization of thermopile sensor performance is developed for thermoelectric-based infrared radiation detection. It is shown that the performance of polycrystalline silicon film thermopile sensor can be optimized according to the thermoelectric quality factor, sensor layer structure factor, and sensor layout geometrical form factor. Based on the properties of electrons, phonons, grain boundaries, and their interactions, the thermoelectric quality factor of polycrystalline silicon is analyzed with the relaxation time approximation of the Boltzmann transport equation. The model includes the effect of grain structure, grain boundary trap properties, and doping concentration. The layer structure factor is analyzed with respect to the infrared absorption coefficient. The optimization of layout design is characterized by the form factor, which is calculated for different sensor designs. A double-layer polycrystalline silicon thermopile infrared sensor on a suspended membrane has been designed and fabricated with a CMOS-compatible process. The theoretical approach is confirmed by measurement results.

Keywords: polycrystalline silicon, relaxation time approximation, specific detectivity, thermal conductivity, thermopile infrared sensor

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Authors: Raveena Naz

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The concept of ‘Corporate Social Responsibility’ (CSR) has often relied on firms thinking beyond their economic interest despite the larger debate of shareholder versus stakeholder interest. India gave legal recognition to CSR in the Companies Act, 2013 which promises better corporate governance. CSR in India is believed to be different for two reasons: the dominance of family business and the history of practice of social responsibility as a form of philanthropy (mainly among the family business). This paper problematises the actual structure of business houses in India and the role of CSR in India. When the law identifies each company as a separate business entity, the economics of institutions emphasizes the ‘business group’ consisting of a plethora of firms as the institutional organization of business. The capital owned or controlled by the family group is spread across the firms through the interholding (interlocked holding) structures. This creates peculiar implications for CSR legislation in India. The legislation sets criteria for individual firms to undertake liability of mandatory CSR if they are above a certain threshold. Within this framework, the largest family firms which are all part of family owned business groups top the CSR expenditure list. The interholding structures, common managers, auditors and series of related party transactions among these firms help the family to run the business as a ‘family business’ even when the shares are issued to the public. This kind of governance structure allows family owned business group to show mandatory compliance of CSR even when they actually spend much less than what is prescribed by law. This aspect of the family firms is not addressed by the CSR legislation in particular or corporate governance legislation in general in India. The paper illustrates this with an empirical study of one of the largest family owned business group in India which is well acclaimed for its CSR activities. The individual companies under the business group are identified, shareholding patterns explored, related party transactions investigated, common managing authorities are identified; and assets, liabilities and profit/loss accounting practices are analysed. The data has been mainly collected from mandatory disclosures in the annual reports and financial statements of the companies within the business group accessed from the official website of the ultimate controlling authority. The paper demonstrates how the business group through these series of shareholding network reduces its legally mandated CSR liability. The paper thus indicates the inadequacy of CSR legislation in India because the unit of compliance is an individual firm and it assumes that each firm is independent and only connected to each other through market dealings. The law does not recognize the inter-connections of firms in corporate governance structures of family owned business group and hence is inadequate in its design to effect the threshold level of CSR expenditure. This is the central argument of the paper.

Keywords: business group, corporate governance, corporate social responsibility, family firm

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Authors: Miho Tsukamoto

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Since the initial creation of the Barbie doll in 1959, it became a symbol of US society. Likewise, the Licca-chan, a Japanese doll created in 1967, also became a Japanese symbolic doll of Japanese society. Prior to the introduction of Licca-chan, Barbie was already marketed in Japan but their sales were dismal. Licca-chan (an actual name: Kayama Licca) is a plastic doll with a variety of sizes ranging from 21.0 cm to 29.0 cm which many Japanese girls dream of having. For over 35 years, the manufacturer, Takara Co., Ltd. has sold over 48 million dolls and has produced doll houses, accessories, clothes, and Licca-chan video games for the Nintendo DS. Many First-generation Licca-chan consumers still are enamored with Licca-chan, and go to Licca-chan House, in an amusement park with their daughters. These people are called Licca-chan maniacs, as they enjoy touring the Licca-chan’s factory in Tohoku or purchase various Licca-chan accessories. After the successful launch of Licca-chan into the Japanese market, a mixed-like doll from the US and Japan, a doll, JeNny, was later sold in the same Japanese market by Takara Co., Ltd. in 1982. Comparison of these cultural iconic dolls, Barbie and Licca-chan, are analyzed in this paper. In fact, these dolls have concepts of girls’ dreams. By using concepts of mythology of Jean Baudrillard, these dolls can be represented idealized images of figures in the products for consumers, but at the same time, consumers can see products with different perspectives, which can cause controversy.

Keywords: Barbie, dolls, JeNny, idealization, Licca-chan

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Authors: Joanna Stawska

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The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: central bank, financial crisis, interest rate, investments

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Authors: Wafaa Salah, Mostafa A. Salama, Jane Doe

Abstract:

Recently, the corporate social performance (CSP) is not less important than the corporate financial performance (CFP). Debate still exists about the nature of the relationship between the CSP and CFP, whether it is a positive, negative or a neutral correlation. The objective of this study is to explore the relationship between corporate social responsibility (CSR) reports and CFP. The study uses the accounting-based and market-based quantitative measures to quantify the financial performance of seven organizations listed on the Egyptian Stock Exchange in 2007-2014. Then uses the information retrieval technologies to quantify the contribution of each of the three dimensions of the corporate social responsibility report (environmental, social and economic). Finally, the correlation between these two sets of variables is viewed together in a model to detect the correlations between them. This model is applied on seven firms that generate social responsibility reports. The results show a positive correlation between the Earnings per share (market based measure) and the economical dimension in the CSR report. On the other hand, total assets and property, plant and equipment (accounting-based measure) are positively correlated to the environmental and social dimensions of the CSR reports. While there is not any significant relationship between ROA, ROE, Operating income and corporate social responsibility. This study contributes to the literature by providing more clarification of the relationship between CFP and the isolated CSR activities in a developing country.

Keywords: financial, social, machine learning, corporate social performance, corporate social responsibility

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Authors: Maizatulnisa Othman, Mohamad Bukhari, Zahurin Halim, Souad A. Muhammad, Khalisani Khalid

Abstract:

Sandwich structure composites produced by epoxy core and aluminium skin were developed as potential building materials. Interface bonding between core and skin was controlled by varying kenaf content. Five different weight percentage of kenaf loading ranging from 10 wt% to 50 wt% were employed in the core manufacturing in order to study the mechanical properties of the sandwich composite. Properties of skin aluminium with epoxy were found to be affected by drying time of the adhesive. Mechanical behavior of manufactured sandwich composites in relation with properties of constituent materials was studied. It was found that 30 wt% of kenaf loading contributed to increase the flexural strength and flexural modulus up to 102 MPa and 32 Gpa, respectively. Analysis were done on the flatwise and edgewise compression test. For flatwise test, it was found that 30 wt% of fiber loading could withstand maximum force until 250 kN, with compressive strength results at 96.94 MPa. However, at edgewise compression test, the sandwich composite with same fiber loading only can withstand 31 kN of the maximum load with 62 MPa of compressive strength results.

Keywords: sandwich structure composite, epoxy, aluminium, kenaf fiber

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Authors: Alireza Keshmiri, Shahriar Bagheri, Nan Wu

Abstract:

This research presents an analytical model for the development of an energy harvester with piezoelectric rings stacked at the boundary of the structure based on the Adomian decomposition method. The model is applied to geometrically non-uniform beams to derive the steady-state dynamic response of the structure subjected to base motion excitation and efficiently harvest the subsequent vibrational energy. The in-plane polarization of the piezoelectric rings is employed to enhance the electrical power output. A parametric study for the proposed energy harvester with various design parameters is done to prepare the dataset required for optimization. Finally, simulation-based optimization technique helps to find the optimum structural design with maximum efficiency. To solve the optimization problem, an artificial neural network is first trained to replace the simulation model, and then, a genetic algorithm is employed to find the optimized design variables. Higher geometrical non-uniformity and length of the beam lowers the structure natural frequency and generates a larger power output.

Keywords: piezoelectricity, energy harvesting, simulation-based optimization, artificial neural network, genetic algorithm

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Authors: Janaki Rama Raju Patchamatla, Emani Pavan Kumar

Abstract:

The idea of increasing the existing train speeds and introduction of the high-speed trains in India as a part of Vision-2020 is really challenging from both economic viability and technical feasibility. More than economic viability, technical feasibility has to be thoroughly checked for safe operation and execution. Trains moving at high speeds need a well-established firm and safe track thoroughly tested against vibration effects. With increased speeds of trains, the track structure and layered soil-structure interaction have to be critically assessed for vibration and displacements. Physical establishment of track, testing and experimentation is a costly and time taking process. Software-based modelling and simulation give relatively reliable, cost-effective means of testing effects of critical parameters like sleeper design and density, properties of track and sub-grade, etc. The present paper reports the applicability of infinite elements in reducing the unrealistic stress-wave reflections from so-called soil-structure interface. The influence of the infinite elements is quantified in terms of the displacement time histories of adjoining soil and the deformation pattern in general. In addition, the railhead response histories at various locations show that the numerical model is realistic without any aberrations at the boundaries. The numerical model is quite promising in its ability to simulate the critical parameters of track design.

Keywords: high speed railway track, finite element method, Infinite elements, vibration analysis, soil-structure interface

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Authors: Priyal Motwani

Abstract:

The current market for bamboo products in India is about Rs. 21000 crores and is highly unorganised and fragmented. In this study, we have closely analysed the structure and functions of a major bamboo craft based organisation in Kerela, India and elaborated about its value chain, product mix, pricing strategy and supply chain, collaborations and competitive landscape. We have identified six major bottlenecks that are prevalent in such organisations, based on the Indian context, in relation to their product mix, asset management, and supply chain- corresponding waste management and retail network. The study has identified that the target customers for the bamboo based products and alternative revenue streams (eco-tourism, microenterprises, training), by carrying out secondary and primary research (5000 sample space), that can boost the existing revenue by 150%. We have then recommended an optimum product mix-covering premium, medium and low valued processing, for medium sized bamboo based organisations, in accordance with their capacity to maximize their revenue potential. After studying such organisations and their counter parts, the study has established an optimum retail network, considering B2B, B2C physical and online retail, to maximize their sales to their target groups. On the basis of the results obtained from the analysis of the future and present trends, our study gives recommendations to improve the revenue potential of bamboo based organisation in India and promote sustainability.

Keywords: bamboo, bottlenecks, optimization, product mix, retail network, value chain

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Authors: Mahboobeh Mohadeszadeh, Majid Saghi

Abstract:

Polyoxometalates (POMs) are important inorganic compounds that have been considered specifically in recent years due to abundant attributes and applications. Those POMs that have one central tetrahedral atom called keggin. The binding Amino-acid groups to keggin structure give the antivirus effect to these compounds. A new organic-inorganic hybrid structure, with formula (Gly)2H4SiW12O40 was synthesized. Investigation on Anti-viral effect of this compound showed the (Gly)2H4SiW12O40 prevents infection of Tobacco Mosaic Virus (TMV) on the Nicotianatabacum plants.

Keywords: Polyoxometalate, Keggin, Organic-inorganic salt, TMV

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Authors: Mahboobeh Mohadeszadeh, Majid Saghi

Abstract:

Polyoxometalates (POMs) are important inorganic compounds that have been considered specifically in recent years due to abundant attributes and applications. Those POMs that have one central tetrahedral atom called keggin. The binding Amino-acid groups to keggin structure give the antivirus effect to these compounds. A new organic-inorganic hybrid structure, with formula (Gly)2H4SiW12O40 was synthesized. Investigation on Anti-viral effect of this compound showed the (Gly)2H4SiW12O40 prevents infection of Tobacco Mosaic Virus (TMV) on the Nicotianatabacum plants.

Keywords: polyoxometalate, keggin, organic-inorganic salt, TMV

Procedia PDF Downloads 421

Authors: N. Berrouachedi, M. Bouslama, S. Rioual, B. Lescop, J. Langlois

Abstract:

Using first-principles calculations within the LSDA (Local Spin Density Approximation) method based on density functional theory (DFT), the electronic structure and magnetic properties of zinc blende Fe/In0.5Ga0.5As/InPsuperlattice are investigated. This compound are found to be half -metallic ferromagnets with a total magnetic moment of 2.25μB per Fe. In addition to this, we reported the DRX measurements of the thick iron sample before and after annealing. One should note, after the annealing treatment at a higher temperature, the disappearance of the peak associated to the Fe(001) plane. In contrast to this report, we observed after the annealing at low temperature the additional peaks attributed to the presence of indium and Fe2As. This suggests a subsequent process consisting in a strong migration of atoms followed with crystallization at the higher temperature.To investigate the origin of magnetism and electronic structure in these zb compounds, we calculated the total and partial DOS of FeInP.One can see that µtotal=4.24µBand µFe=3.27µB in contrast µIn=0.021µB and µP=0.049µB.These results predicted that FeInP compound do belong to the class of zb half metallic HM ferromagnetswith a pseudo gap= 0.93 eVare more promising materials for spintronics devices.

Keywords: zincblend structure, half metallic ferromagnet, spin moments, total and partial DOS, DRX, Wien2k

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Authors: Jun-Geol Park, Kyoung-Il Do, Min-Ju Kwon, Kyung-Hyun Park, Yong-Seo Koo

Abstract:

This paper analyzed the SCR (Silicon Controlled Rectifier)-based ESD (Electrostatic Discharge) protection circuits with the turn-on time characteristics. The structures are the LVTSCR (Low Voltage Triggered SCR), the ZTSCR (Zener Triggered SCR) and the PTSCR (P-Substrate Triggered SCR). The three structures are for the 5V power clamp. In general, the structures with the low trigger voltage structure can have the fast turn-on characteristics than other structures. All the ESD protection circuits have the low trigger voltage by using the N+ bridge region of LVTSCR, by using the zener diode structure of ZTSCR, by increasing the trigger current of PTSCR. The simulation for the comparison with the turn-on time was conducted by the Synopsys TCAD simulator. As the simulation results, the LVTSCR has the turn-on time of 2.8 ns, ZTSCR of 2.1 ns and the PTSCR of 2.4 ns. The HBM simulation results, however, show that the PTSCR is the more robust structure of 430K in HBM 8kV standard than 450K of LVTSCR and 495K of ZTSCR. Therefore the PTSCR is the most effective ESD protection circuit for the 5V power clamp.

Keywords: ESD, SCR, turn-on time, trigger voltage, power clamp

Procedia PDF Downloads 348