Search results for: market microstructure

Authors: Kianoosh Samimi, Farhad Estakhr, Mahdi Mahdikhani, Faramaz Moodi

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The self-consolidating concrete (SCC) performance over ordinary concrete is generally related to the ingredients used. The metakaolin can modify various properties of concrete, due to high pozzolanic reactions and also makes a denser microstructure. The objective of this paper is to examine the influence of three types of Portland cement and metakaolin on compressive strength and transport properties of SCC at early ages and up to 90 days. Six concrete mixtures were prepared with three types of different cements and substitution of 15% metakaolin. The results show that the highest value of compressive strength was achieved for Portland Slag Cement (PSC) and without any metakaolin at age of 90 days. Conversely, the lowest level of compressive strength at all ages of conservation was obtained for Pozzolanic Portland Cement (PPC) and containing 15% metakaolin. As can be seen in the results, compressive strength in SCC containing Portland cement type II with metakaolin is higher compared to that relative to SCC without metakaolin from 28 days of age. On the other hand, the samples containing PSC and PPC with metakaolin had a lower compressive strength than the plain samples. Therefore, it can be concluded that metakaolin has a negative effect on the compressive strength of SCC containing PSC and PPC. In addition, results show that metakaolin has enhanced chloride durability of SCCs and reduced capillary water absorption at 28, 90 days.

Keywords: SCC, metakaolin, cement type, compressive strength, chloride diffusion

Procedia PDF Downloads 218

Authors: M. M. Moharam, E. M. Elsayed, M. M. Rashad

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Single phase Cu₂O films have been prepared via an electrodeposition technique onto ITO glass substrates at room temperature. Likewise, Cu₂O films were deposited using a potentiostatic process from an alkaline electrolyte containing copper (II) nitrate and 1M sodium citrate. Single phase Cu₂O films were electrodeposited at a cathodic deposition potential of 500mV for a reaction period of 90 min, and pH of 12 to yield a film thickness of 0.49 µm. The mechanism for nucleation of Cu₂O films was found to vary with deposition potential. Applying the Scharifker and Hills model at -500 and -600 mV to describe the mechanism of nucleation for the electrochemical reaction, the nucleation mechanism consisted of a mix between instantaneous and progressive growth mechanisms at -500 mV, while above -600 mV the growth mechanism was instantaneous. Using deposition times from 30 to 90 min at -500 mV deposition potential, pure Cu2O films with different microstructures were electrodeposited. Changing the deposition time from 30 to 90 min varied the microstructure from cubic to more complex polyhedra. The transmittance of electrodeposited Cu₂O films ranged from 20-70% in visible range, and samples exhibited a 2.4 eV band gap. The electrical resistivity for electrodeposited Cu₂O films was found to decrease with increasing deposition time from 0.854 x 105 Ω-cm at 30 min to 0.221 x 105 Ω-cm at 90 min without any thermal treatment following the electrodeposition process.

Keywords: Cu₂O, electrodeposition, film thickness, characterization, optical properties

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

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Against the background of demographic changes and the need for motivated and talented employees, companies have a growing interest in being perceived as an attractive employer and gain a competitive edge in the market for talents. Research indicates that corporate social responsibility plays an important role employer choice. This is assumed to be particularly true for the cohorts of the so-called generations y younger applicants born later. Several studies identified cultural, educational and generational differences in CSR preferences. However, until now literature that links preferences for employers’ responsibility with the individual value orientation of the job applicant is scarce. This paper seeks to close this gap and analyzes the preference structure of 500 German university graduates for CSR-related and non-CSR-related employer attributes contingent on their value orientation. In a first step, we identified 17 CSR related attributes in five CSR dimensions (ecology, community, workplace, governance, and market) as well as 11 traditional attributes such as salary, reputation, personal development etc. based on literature review and focus groups. We then used an adapted Conjoint Analysis framework in order to understand the relative preference of each attribute for each participant. Additionally, we surveyed the value orientation of participants based on the European Social Survey (ESS) 21-item human values scale that allow a differentiation of participants into clusters of value orientation. The results allow us not only to operationalize preferences for CSR and other important employer attributes, but – more importantly – to answer the question how different values structures play together with CSR preferences of potential employees. They hereby allow companies to customize employee directed messages to their respective target group and design their employer brand accordingly.

Keywords: corporate social responsibility, employer attractiveness, employer brand, recruiting, values

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Authors: A. D. Chandio, P. Xiao

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In this study, nickel aluminide coatings were deposited onto CMSX-4 single crystal superalloy and pure Ni substrates by using in-situ chemical vapour deposition (CVD) technique. The microstructural evolutions and coating thickness (CT) were studied upon the variation of processing conditions i.e. time and temperature. The results demonstrated (under identical conditions) that coating formed on pure Ni contains no substrate entrapments and have lower CT in comparison to one deposited on the CMSX-4 counterpart. In addition, the interdiffusion zone (IDZ) of Ni substrate is a γ’-Ni3Al in comparison to the CMSX-4 alloy that is βNiAl phase. The higher CT on CMSX-4 superalloy is attributed to presence of γ-Ni/γ’-Ni3Al structure which contains ~ 15 at.% Al before deposition (that is already present in superalloy). Two main deposition parameters (time and temperature) of the coatings were also studied in addition to standard comparison of substrate effects. The coating formation time was found to exhibit profound effect on CT, whilst temperature was found to change coating activities. In addition, the CT showed linear trend from 800 to 1000 °C, thereafter reduction was observed. This was attributed to the change in coating activities.

Keywords: βNiAl, in-situ CVD, CT, CMSX-4, Ni, microstructure

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Authors: Renato Roda

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With the emergence of the so-called 'Knowledge Society', the implementation of policies to attract, grow and retain talents, in an academic context as well, has become critical –both in the perspective of didactics and research and as far as administration and institutional management are concerned. At the same time, the contemporary philanthropic entities/organizations, which are evolving from traditional types of social support towards new styles of aid, envisaged to go beyond mere monetary donations, face the challenge of brand-new forms of complexity in supporting such specific dynamics of the global human capital market. In this sense, it becomes unavoidable for the philanthropic foundation, while carrying out their daily charitable tasks, to resort to innovative ways to facilitate the acquisition and the promotion of talents by academic and research institutions. In order to deepen such a specific perspective, this paper features the case of Turin, former 'factory city' of Italy’s North West, headquarters -and main reference territory- of Italy’s largest and richest private formerly bank-based philanthropic foundation, the Fondazione Compagnia di San Paolo. While it was assessed and classified as 'medium' in the city Global Talent Competitiveness Index (GTCI) of 2020, Turin has nevertheless acquired over the past months status of impact laboratory for a whole series of innovation strategies in the competition for the acquisition of excellence human capital. Leading actors of this new city vision are the foundations with their specifically adjusted financial engagement and a consistent role of stimulus towards innovation for research and education institutions.

Keywords: human capital, post-Fordism, private foundation, war on talents

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Authors: V. Prodocimo, A. Malucelli, S. Reinehr

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Organizations, driven by business digitization, have in software the main core of value generation and the main channel of communication with their clients. The software, as well as responding to momentary market needs, spans an extensive product family, ranging from mobile applications to multilateral platforms. Thus, the software specification needs to represent solutions focused on consumer problems and market needs. However, requirements engineering, whose approach is strongly linked to technology, becomes deficient and ineffective when the problem is not well defined or when looking for an innovative solution, thus needing a complementary approach. Research has cited the combination of design thinking and requirements engineering, many correlating design thinking as a support technique for the elicitation step, however, little is known about the real benefits and challenges that this combination can bring. From the point of view of the development process, there is little empirical evidence of how Design Thinking interactions with requirements engineering occur. Given this scenario, this paper aims to understand how design thinking practices are applied in each of the requirements engineering stages in software projects. To elucidate these interactions, a qualitative and exploratory research was carried out through the application of the case study method in IT organizations in Brazil that work in the development of software projects. The results indicate that design thinking has aided requirements engineering, both in projects that adopt agile methods and those that adopt the waterfall process, bringing a complementary thought that seeks to build the best software solution design for business problems. It was also possible to conclude that organizations choose to use design thinking not based on a specific software family (e.g. mobile or desktop applications), but given the characteristics of the software projects, such as: vague nature of the problem, complex problems and/or need for innovative solutions.

Keywords: software engineering, requirements engineering, design thinking, innovative solutions

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Authors: Hilmi Rafet Yüncü

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Today Internet has very important role to promote products and services all over the world. Companies and destinations in tourism industry use Internet to sell and to promote their core products to directly potential tourists. Internet technologies have redefined the relationships between tourists, tourism companies, and travel agents. The new relationship allows for accessing and tapping tourism information and services. Internet technologies ensure new opportunities to available for the tourism industry, including travel accommodation, and tourist destination organizations. Websites are important devices to the marketing of a destination. Most people make a research about the destination before arriving via internet. Governments have a considerable role in the process of marketing tourism destinations. Governments make policies and regulations; furthermore, they help to market destinations to potential tourists. Governments have a comprehensive overview of the sector to see changes in tourism market and design better policies, programs and marketing plans. At the same time, governments support developing of alternative tourism in the country with regulations and marketing tools. The aim of this study is to analyse of an Internet website of governmental tourism portal in Turkey to determine effectiveness about gastronomy tourism. The Turkish government has established a culture portal for foreign and local tourists. The Portal provides local and general information about tourism attractions of cities and Turkey. There are 81 official cities in Turkey and all these cities are conducted to analyse to determine how effective marketing is done by Turkish Government in the manner of gastronomy tourism. A content analysis will be conducted to Internet website of the portal with food content, recipes and gastronomic feature of cities.

Keywords: culture portal, gastronomy tourism, government, Turkey

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Authors: Hassan Y. Kikhia, Jin P. Zhang, Khaldoon G. Albiatr

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The Enron and Arthur Andersen scandal has raised concerns internationally about auditor independence and audit quality. Furthermore, the debate continues about the relationship between audit fees, auditor tenure and audit quality in spite of extensive empirical evidence examining audit failures and earnings management. Therefore, the purpose of current research is to determine the effect of audit fee and audit tenure both partially and simultaneously on the audit quality. Using a sample of Chinese firms, an environment where we believe it provides us with an opportunity to test whether the development of market and legal institutions affects the impact of audit fees and auditor tenure on audit quality. We employ the standard deviation of residuals from regressions relating current accruals to cash flows as proxy for audit quality. The paper documents statistically significant negative association between audit fees and audit quality. These findings are consistent with economic bonding being a determinant of auditor behavior rather than auditor reputational concerns. Further, the current paper shows a positive association between auditor tenure and audit quality in the earlier years of audit tenure. These results support the proposition that when the Learning Effect dominates the Bonding Effect in the earlier years of tenure, then audit quality is likely to be higher. Taken audit fees and audit tenure together, the results suggest that there is positive association between audit fees and audit quality in the earlier years of auditor tenure. Interestingly, the findings of our study have important implications for auditors, policymakers, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investors. To a lesser extent, our paper also differs from the prior studies in methodology and findings in the investigation of audit quality.

Keywords: audit quality, accruals quality, audit fees, auditor tenure

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Authors: Sorour Semsari Parapari, Mehmet Ali Gülgün, Melih Papila

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Cement production is one of the most energy-intensive processes consuming a high amount of thermal energy. Nowadays, alternative fuels are being used in cement manufacturing in a large scale as a help to provide the necessary energy. The alternative fuels could consist of any disposal like waste plastics, used tires and biomass. It has been suggested that the clinker properties might be affected by using these fuels because of foreign elements incorporation to the composition. Studying the distribution of clinker phases and their chemical composition is possible with scanning electron microscopy (SEM). In this study, clinker samples were produced using different alternative fuels in cement firing kilns. The microstructural observations by back-scattered electrons (BSE) mode in SEM (JEOL JSM-6010LV) showed that the clinker phase distribution was dissimilar in samples prepared with different alternative fuels. The alite to belite (a/b) phase content of samples was quantified by image analysis. The results showed that the a/b varied between 5.2 and 1.5 among samples as the average value for six clinker nodules. The elemental analysis by energy-dispersive x-ray spectroscopy (EDS) mounted on SEM indicated the variation in chemical composition among samples. Higher amounts of sulfur and alkalis seemed to reduce the alite phase formation in clinkers.

Keywords: alternative fuels, cement clinker, microstructure, SEM

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Authors: Olokor O. Julius, Ngwu E. Onyebuchi, Ajani K. Emmanuel, Omitoyin O. Bamidele, Olokor O. Linda, Akomas Stella

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The study assessed the quality changes of Clarias gariepenus obtained from integrated culture systems (rice, poultry and fish) which were displayed at 31-33oC average daily temperature on the traditional market table used by local fish farmers to sell fish harvested from their ponds and those on an improved table designed for this study. Unlike the conventional table, the improved table was screened against flies and indiscriminate touch by customers. The fishes were displayed on both tables for 9 hours and quality attributes were monitored hourly by trained panelists. For C. gariepinus, the gills, and intestine recorded faster deterioration starting from the fourth and fifth hours while those on the improved table were prolonged by one hour. Scores for skin brightness and texture did not indicate quality deterioration throughout the display period. However, at the end of the storage time, samples on the improved table recorded 1.5 x 104 cfu/g while samples in unscreened table recorded 3.7 x 10 7 cfu/g. The study shows how simple modifications of a traditional practice can help extend keeping qualities of farmed fish, reduce health hazards in local communities where there is no electricity to preserve fish in whatever form despite a boom in aquaculture. Monai community has a fish farm estate of over 200 small holder farmers with annual output capacity of over $10 million dollars. The simple improvement made to farmers practice in this study is to ensure Community hygiene and boost income of peasant fish farmers by improving the market quality of their products.

Keywords: fish spoilage, improved handling, income generation, retail table

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Authors: Soumya Chaturvedi

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Ever since India opened its doors for the world economy to enter, there has not been a single instance of recoil. A consequence of this move by the government of India resulted in India evolving as a consumer-driven market and in order to survive in this era of extreme competition, the corporate houses have employed every possible means to reach out and hit onto the sentiments of the consumers. The most obvious way to ensure a strong perseverance towards the specific product or brand is through celebrity endorsements. In a country like India, whose film industry accounts for the largest sales and output, it is indeed appalling to acknowledge the fact that it lacks an effective mechanism of protection of the commercial exploitation of celebrities’ attributes under the ambit of law. The western half of the globe has very well accepted and recognized the rights of the celebrities to decide upon the quantum of commercial exploitation of their own attributes and earn profit out of the same. However, the eastern half seems to be a little reluctant in accepting and enforcing these views per se. A celebrity has a right to publicity over the traits of his personality which involves voice, autographs, reputation, and style, so on and so forth as it is these attributes that are responsible for huge trade profits concerning the products to which such traits are attributed to. This clearly involves the right of the celebrity to benefit himself by commercially exploiting the same and refraining the unauthorized gain to third parties. The market is making it nearly impossible to proceed further with such weak laws considering the escalating rate of celebrity endorsements in the nation. This paper discusses the lacunae in law per se to identify a right as such by a celebrity over his traits that are potentially under the circle of commercial exploitation and the need of a definite legislation that would ensure a change in the paradigm of the Courts in India. Also, it discusses the only remedy available currently for violation, which is, a suit for passing off by Indian Courts under Trademark and Copyright laws and a comparison of the same with the mechanisms adopted by the legal systems across the globe.

Keywords: celebrity, rights, intellectual property, trademark, copyrights

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Authors: Jun Wang, Chenglei Diao, Emanuele Pagone, Jialuo Ding, Stewart Williams

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As a crucial component in aircraft, landing gear systems are responsible for supporting the plane during parking, taxiing, takeoff, and landing. Given the need for high load-bearing capacity over extended periods, 300M ultra-high strength steel (UHSS) is often the material of choice for crafting these systems due to its exceptional strength, toughness, and fatigue resistance. In the quest for cost-effective and sustainable manufacturing solutions, Wire Arc Additive Manufacturing (WAAM) emerges as a promising alternative for fabricating 300M UHSS landing gears. This is due to its advantages in near-net-shape forming of large components, cost-efficiency, and reduced lead times. Cranfield University has conducted an extensive preliminary study on WAAM 300M UHSS, covering feature deposition, interface analysis, and post-heat treatment. Both Gas Metal Arc (GMA) and Plasma Transferred Arc (PTA)-based WAAM methods were explored, revealing their feasibility for defect-free manufacturing. However, as-deposited 300M features showed lower strength but higher ductility compared to their forged counterparts. Subsequent post-heat treatments were effective in normalising the microstructure and mechanical properties, meeting qualification standards. A 300M UHSS landing gear demonstrator was successfully created using PTA-based WAAM, showcasing the method's precision and cost-effectiveness. The demonstrator, measuring Ф200mm x 700mm, was completed in 16 hours, using 7 kg of material at a deposition rate of 1.3kg/hr. This resulted in a significant reduction in the Buy-to-Fly (BTF) ratio compared to traditional manufacturing methods, further validating WAAM's potential for this application. A "cradle-to-gate" environmental impact assessment, which considers the cumulative effects from raw material extraction to customer shipment, has revealed promising outcomes. Utilising Wire Arc Additive Manufacturing (WAAM) for landing gear components significantly reduces the need for raw material extraction and refinement compared to traditional subtractive methods. This, in turn, lessens the burden on subsequent manufacturing processes, including heat treatment, machining, and transportation. Our estimates indicate that the carbon footprint of the component could be halved when switching from traditional machining to WAAM. Similar reductions are observed in embodied energy consumption and other environmental impact indicators, such as emissions to air, water, and land. Additionally, WAAM offers the unique advantage of part repair by redepositing only the necessary material, a capability not available through conventional methods. Our research shows that WAAM-based repairs can drastically reduce environmental impact, even when accounting for additional transportation for repairs. Consequently, WAAM emerges as a pivotal technology for reducing environmental impact in manufacturing, aiding the industry in its crucial and ambitious journey towards Net Zero. This study paves the way for transformative benefits across the aerospace industry, as we integrate manufacturing into a hybrid solution that offers substantial savings and access to more sustainable technologies for critical component production.

Keywords: WAAM, aircraft landing gear, microstructure, mechanical performance, life cycle assessment

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Authors: Luke Miller

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This paper develops an options pricing methodology to value strategic pricing strategies in the services sector. More specifically, this study provides a unifying taxonomy of current service sector pricing practices, frames these pricing decisions as strategic real options, demonstrates accepted option valuation techniques to assess service sector pricing decisions, and suggests future research areas where pricing decisions and real options overlap. Enhancing revenue in the service sector requires proactive decision making in a world of uncertainty. In an effort to strategically price service products, revenue enhancement necessitates a careful study of the service costs, customer base, competition, legalities, and shared economies with the market. Pricing decisions involve the quality of inputs, manpower, and best practices to maintain superior service. These decisions further hinge on identifying relevant pricing strategies and understanding how these strategies impact a firm’s value. A relatively new area of research applies option pricing theory to investments in real assets and is commonly known as real options. The real options approach is based on the premise that many corporate decisions to invest or divest in assets are simply an option wherein the firm has the right to make an investment without any obligation to act. The decision maker, therefore, has more flexibility and the value of this operating flexibility should be taken into consideration. The real options framework has already been applied to numerous areas including manufacturing, inventory, natural resources, research and development, strategic decisions, technology, and stock valuation. Additionally, numerous surveys have identified a growing need for the real options decision framework within all areas of corporate decision-making. Despite the wide applicability of real options, no study has been carried out linking service sector pricing decisions and real options. This is surprising given the service sector comprises 80% of the US employment and Gross Domestic Product (GDP). Identifying real options as a practical tool to value different service sector pricing strategies is believed to have a significant impact on firm decisions. This paper identifies and discusses four distinct pricing strategies available to the service sector from an options’ perspective: (1) Cost-based profit margin, (2) Increased customer base, (3) Platform pricing, and (4) Buffet pricing. Within each strategy lie several pricing tactics available to the service firm. These tactics can be viewed as options the decision maker has to best manage a strategic position in the market. To demonstrate the effectiveness of including flexibility in the pricing decision, a series of pricing strategies were developed and valued using a real options binomial lattice structure. The options pricing approach discussed in this study allows service firms to directly incorporate market-driven perspectives into the decision process and thus synchronizing service operations with organizational economic goals.

Keywords: option pricing theory, real options, service sector, valuation

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Authors: M. J. Shivaram, Shashi Bhushan Arya, Jagannath Nayak, Bharat Bhooshan Panigrahi

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Titanium and its alloys have become more significant implant materials due to their mechanical properties, excellent biocompatibility and high corrosion resistance. Biomaterials can be produce by using the powder metallurgy (PM) methods and required properties can tailored by varying the processing parameters, such as ball milling time, space holder particles, and sintering temperature. The desired properties such as, structural and mechanical properties can be obtained by powder metallurgy method.  In the present study, deals with fabrication of solid and porous Ti-20Nb-5Ag alloy using high energy ball milling for different times (5 and 20 h). The resultant powder particles were used to fabricate solid and porous Ti-20Nb-5Ag alloy by adding space holder particles (NH₄HCO₃). The resultant powder particles, fabricated solid and porous samples were characterized by scanning electron microscopy (SEM). The compressive strength, elastic modulus and microhardness properties were investigated. Solid and porous Ti-20Nb-5Ag alloy samples showed good mechanical properties for 20 h ball milling time as compare to 5 h ball milling.

Keywords: ball milling, compressive strengths, microstructure, porous titanium alloy

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Authors: Akbar Zeb, Shujaul Mulk Khan, Habib Ahmad, Manzoor Hussain, Mujtaba Shah

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An ethnobotanical project was carried out in the Dughalgay valley District Swat in Hindu Kush region. The Local population not only use indigenous knowledge to use medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local markets. An ethnobotanical project was carried out in the Doghalgay valley of upper Swat. The Local population not only use indigenous medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local market. 102 of these medicinal plants were reported to be used in the region during questionnaire survey in spring 2007. Out of them 10 species are used as diuretic, 9 in stomachic and laxative each. Similarly 6, 5, 5, 4, 4, and 4 species of them are used as antiseptic, Anthelmintic, Carminative, Expectorant, Astringent and purgative respectively, while the remaining species have one or more than one medicinal use in the local community. 30 of these species are collected for marketing purposes, in which these medicinal plants such as Berberis lycium, Origanum vulgare, Bergenia ciliata, Aesculus indica, Podophyllum emodi, Pteredium aquilinum, Bergenia himalyca, Viola spp., Ajuga bracteosa, Morchella esculenta, Paeonia emodi, Atropa acuminate, Aconitum violaceum, Polygonum amplexicaulis, Bupleurum longicaule, Juglans regia, Diospyrus lotus, and Mentha longifolia are important. Study concluded that availability of medicinal plants is decreasing day by day due to human population pressure, marketing pressure, grazing and unwise collection. Therefore it is recommended that Governmental organizations and non Governmental organization should pay possible attention to make aware the local people about the future threats.

Keywords: indigenous knowledge, ethnomedicinal uses, marketing, Hindu Kush

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Authors: Ali Abu Ali, Mohammad Salhab

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Introduction: In the Middle East and North Africa (MENA) microfinance struggles to find momentum. The Lebanese economy has been struggling through the years due to domestic and external, political and social instability. Although as of 2014 there are around 23 MFIs that are mainly subsidized by the USAID, operating in the country, the Lebanese microfinance market is mostly dominated by three microfinance institutions: Al Majmoua, Vitas, and Al Quard Al Hassan Association. Methodology: A quantitative approach using a standardized questionnaire would analyse the perception of the average Lebanese towards microfinance. A questionnaire was designed and validated. Results: Almost half of the respondents earn a monthly income ranged between $100 and $600. Almost 52% of the respondents were university graduates, around 25% finished secondary and high school, and 12% hold a masters or MBA degree. Topic understanding towards microfinance differs across Lebanese areas. The highest percentage of respondents who claim that microfinance offers financial services to low income people are the residents of Beirut (35.1%), Bekaa (30.8%), and South of Lebanon (24.7%). Higher levels of topic understanding were associated with lower levels of age range. Al Quard el Hassan foundation was regarded as the most known micro financial institution operating in Lebanon. In general, Lebanese people tend to believe that microfinance can play an important role in reducing unemployment rates and poverty levels in Lebanon. When people were asked what would motivate you to get a loan from MFIs, most of the respondent (57.4%) across all the Lebanese region claimed that it was the need for money to satisfy a need such as paying back a loan, to fix something at home, or for self-consideration like buying a car. Conclusion: Our findings showed that in general Lebanese tend to have a positive perception towards microfinance. However, most Lebanese perceive microfinance as the process of just providing loans without specifying for whom it is intended. We advise that government introduces laws to regulate the microfinance market.

Keywords: microfinance, economics, finance, business, analysis, theory

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Authors: Bingjie Wang, Qianqian Qang, Nan Lu, Xiubing Liang, Baolong Shen

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Novel composites of HfNbTaTiZrV refractory high-entropy alloy (RHEA) reinforced with 0-5 vol.% Al₂O₃ particles have been synthesized by vacuum arc melting. The microstructure evolution, compressive mechanical properties at room and elevated temperatures, as well as strengthening mechanism of the composites, are analyzed. The HfNbTaTiZrV RHEA reinforced with 4 vol.% Al₂O₃ displays excellent phase stability at elevated temperatures. A superior compressive yield strength of 2700 MPa at room temperature, 1392 MPa at 800 °C, and 693 MPa at 1000 °C has been obtained for this composite. The improved yield strength results from multiple strengthening mechanisms caused by Al₂O₃ addition, including interstitial strengthening, grain boundary strengthening, and dispersion strengthening. Besides, the effects of interstitial strengthening increase with the temperature and is the main strengthening mechanism at elevated temperatures. These findings not only promote the development of oxide-reinforced RHEAs for challenging engineering applications but also provide guidelines for the design of light refractory materials with multiple strengthening mechanisms.

Keywords: Al₂O₃-reinforcement, HfNbTaTiZrV, refractory high-entropy alloy, interstitial strengthening

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Authors: Arup Pramanik

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Most of the cities in the developing countries like Siliguri Municipal Corporation Area (SMCA) and Raiganj Municipality (RM) in West Bengal, India are changing typically in terms of demographic, economic and social relationship due to rapid pace of urbanization. The mushrooming growth of slums in SMCA and RM is the direct consequence of urbanization and migration due to regional imbalance, unbalanced growth process which is posing a serious threat to sustainable development of the country. Almost all the slums happen to be a breeding ground for poverty, negligence, and disease. Unpredictable growth of slums and poverty alleviation has now become a serious challenge to the global and national policy makers for the development of the slum dwellers. The ethical dimension of the poor in the cities like SMCA and RM stands on equal opportunities, inclusive and harmonious living without discrimination of any kind. But, the migrant slum dwellers in SMCA and RM do not possess high skill or education to enable them to find well paid employment in the formal sector and the surplus urban labour force is compelled to generate its own means of employment and survival in the informal sector. The survey data of the households has been analysedin terms of percentage, descriptive statistics which includes mean, Standard Deviation (SD), ANOVA (Mean Difference) etc., to analyse the socio economic variables of the households. The study shows that the migrant labour forces living in the slums are derived from the social security measures in both the municipal areas of SMCA and RM. The urban poor in the cities of SMCA and RM rely heavily on social capital amongst all the capital assets to help them ‘get by’ and ‘get ahead’. Despite, the slum dwellers in the study areas are vulnerable with respect to other determinants of capital assets. It is noteworthy that Indian plans of anti-poverty programmes was in a proper place even after the neo-liberal regime, where the basic idea behind the massive shift of various welfare and service oriented strategy to poverty reduction strategy for the benefit of the urban poor with the trickle down effects. But, the overall impact of the trickledown effect was unsatisfactory. The objective of the Paper is to assess the magnitude of migration and absorption in the urban labour market. Issues relating to capital formation, social security measures and the support of the Welfare State in order to meet 'Sustainable Development Goals'. This study also highlights the quality of life of urban poor migrants in terms of capital formation and livelihoods.

Keywords: migration, slums, labour market, capital formation, social security

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Authors: Fay A. Al-Khalifa, Fariel Khan, Anamika Jiwane

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Responding to some governmentally enforced building sustainability criteria is today becoming an unavoidable challenge to the real estate development industry and is no longer an extra that allows developers to gain competitive advantages. Previous studies suggested that using green technologies, if done under the right circumstances, could lead to positive incentives, tax breaks, higher rents, cost savings and higher property values in the long run. This is all in addition to the marketing benefits of the green label. There are, however, still countries, mostly in the developing world, that lack the implementation of such sustainability guidelines and assessment tools. This research aspires to investigate the market’s readiness to implement such criteria, its perception of sustainable architecture and building users motivation to use and/or invest in sustainable buildings. The study showed via a survey administered to 385 inhabitants and investors in commercial real estate in Bahrain that the respondents have a limited understanding of the benefits of green buildings and are unlikely to want to occupy or invest in a green building under the current social, economic and industrial conditions. Reliability of green technology, effectiveness, price and the questionable long-term financial benefits were among the major concerns. The study suggests that the promotion of sustainable architecture should respond to the current market concerns in a more direct way to trigger an interest in investors and users of commercial real estate project. This stimulated attention should consequently encourage developers to consider incorporating sustainability measures, apply for green building assessment programs and invest in green technologies, all of which need higher capitals that are nonetheless financially justifiable on the long run.

Keywords: investment, real estate, sustainability, clients perception, Bahrain

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Authors: Jing-Ma

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Digital transformation (DT) is an important way for manufacturing enterprises to shape new competitive advantages, and how to choose an effective DT strategy is crucial for enterprise growth and sustainable development. Rooted in strategic change theory, this paper incorporates the dimensions of managers' digital cognition, organizational conditions, and external environment into the same strategic analysis framework and integrates the dynamic QCA method and PSM method to study the antecedent grouping of the DT strategy mode of manufacturing enterprises and its impact on corporate profitability based on the data of listed manufacturing companies in China from 2015 to 2019. We find that the synergistic linkage of different dimensional elements can form six equivalent paths of high-level DT, which can be summarized as the proactive change mode of resource-capability dominated as well as adaptive response mode such as industry-guided resource replenishment. Capacity building under complex environments, market-industry synergy-driven, forced adaptation under peer pressure, and the managers' digital cognition play a non-essential but crucial role in this process. Except for individual differences in the market industry collaborative driving mode, other modes are more stable in terms of individual and temporal changes. However, it is worth noting that not all paths that result in high levels of DT can contribute to enterprise profitability, but only high levels of DT that result from matching the optimization of internal conditions with the external environment, such as industry technology and macro policies, can have a significant positive impact on corporate profitability.

Keywords: digital transformation, strategy mode, enterprise profitability, dynamic QCA, PSM approach

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Authors: Alok Tiwari, Ming Show Wong

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Lanthanum (La) doped Barium Tin Oxide (BaSnO₃) film is an excellent alternative for expensive Transparent Conducting Oxides (TCOs) film such as Indium Tin Oxide (ITO). However single crystal film of La-doped BaSnO₃ has been reported with a good amount of conductivity and transparency but in order to improve its reachability, it is important to grow doped BaSO₃ films on an inexpensive substrate. La-doped BaSnO₃ thin films have been grown on quartz substrate by Radio Frequency (RF) sputtering at a different substrate temperature (from 200⁰C to 750⁰C). The thickness of the film measured was varying from 360nm to 380nm with varying substrate temperature. Structure, optical and electrical properties have been studied. The carrier concentration is seen to be decreasing as we enhance the substrate temperature while mobility found to be increased up to 9.3 cm²/V-S. At low substrate temperature resistivity found was lower (< 3x10⁻³ ohm-cm) while sudden enhancement was seen as substrate temperature raises and the trend continues further with increasing substrate temperature. Optical transmittance is getting better with higher substrate temperature from 70% at 200⁰C to > 80% at 750⁰C. Overall, understanding of changes in microstructure, electrical and optical properties of a thin film by varying substrate temperature has been reported successfully.

Keywords: conductivity, perovskite, mobility, TCO film

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Authors: Marc Evenst Jn Jacques, Sophie Bernard

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Electrical and electronic applications, as well as rechargeable batteries, are common in any economy. They also contain a number of important and valuable metals. It is critical to investigate the impact of these new materials or volume sources on the metal market dynamics. This paper investigates the impact of responsible recycling within the European region on metal price volatility. As far as we know, no empirical studies have been conducted to assess the role of metal recycling in metal market price volatility. The goal of this paper is to test the claim that metal recycling helps to cushion price volatility. A set of circular economy indicators/variables, namely, 1) annual total trade values of recycled metals, 2) annual volume of scrap traded and 3) circular material use rate, and 4) information about recycling, are used to estimate the volatility of monthly spot prices of regular metals. A combination of the GARCH-MIDAS model for mixed frequency data sampling and a simple GARCH (1,1) model for the same frequency variables was adopted to examine the potential links between each variable and price volatility. We discovered that from 2010 to 2019, except for Nickel, scrap consumption (Millions of tons), Scrap Trade Values, and Recycled Material use rate had no significant impact on the price volatility of standard metals (Aluminum, Lead) and precious metals (Gold and Platinum). Worldwide interest in recycling has no impact on returns or volatility. Specific interest in metal recycling did have a link to the mean return equation for Aluminum, Gold and to the volatility equation for lead and Nickel.

Keywords: recycling, circular economy, price volatility, GARCH, mixed data sampling

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Authors: M. K. Witek-Hajduk, T. M. Napiórkowski

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A number of studies discussed the topic of benefits of retailers-manufacturers cooperation and coopetition. However, there are only few publications focused on the benefits of cooperation and coopetition between retailers and their suppliers of durable consumer goods; especially in the context of business model of cooperating partners. This paper aims to provide a clustering approach to segment retailers selling consumer durables according to the benefits they obtain from their cooperation with key manufacturers and differentiate the said retailers’ in term of the business models of cooperating partners. For the purpose of the study, a survey (with a CATI method) collected data on 603 consumer durables retailers present on the Polish market. Retailers are clustered both, with hierarchical and non-hierarchical methods. Five distinctive groups of consumer durables’ retailers are (based on the studied benefits) identified using the two-stage clustering approach. The clusters are then characterized with a set of exogenous variables, key of which are business models employed by the retailer and its partnering key manufacturer. The paper finds that the a combination of a medium sized retailer classified as an Integrator with a chiefly domestic capital and a manufacturer categorized as a Market Player will yield the highest benefits. On the other side of the spectrum is medium sized Distributor retailer with solely domestic capital – in this case, the business model of the cooperating manufactrer appears to be irreleveant. This paper is the one of the first empirical study using cluster analysis on primary data that defines the types of cooperation between consumer durables’ retailers and manufacturers – their key suppliers. The analysis integrates a perspective of both retailers’ and manufacturers’ business models and matches them with individual and joint benefits.

Keywords: benefits of cooperation, business model, cluster analysis, retailer-manufacturer cooperation

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Authors: Sharmila Pradhan, Ralf Lach, George Michler, Jean Mark Saiter, Rameshwar Adhikari

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Ethylene/1-octene copolymer was modified incorporating three types of nanofillers differed in their dimensionality in order to investigate the effect of filler dimensionality on mechanical properties, for instance, tensile strength, microhardness etc. The samples were prepared by melt mixing followed by compression moldings. The microstructure of the novel material was characterized by Fourier transform infrared spectroscopy (FTIR), X-ray diffraction (XRD) method and Transmission electron microscopy (TEM). Other important properties such as melting, crystallizing and thermal stability were also investigated via differential scanning calorimetry (DSC) and Thermogravimetry analysis (TGA). The FTIR and XRD results showed that the composites were formed by physical mixing. The TEM result supported the homogeneous dispersion of nanofillers in the matrix. The mechanical characterization performed by tensile testing showed that the composites with 1D nanofiller effectively reinforced the polymer. TGA results revealed that the thermal stability of pure EOC is marginally improved by the addition of nanofillers. Likewise, melting and crystallizing properties of the composites are not much different from that of pure.

Keywords: copolymer, differential scanning calorimetry, nanofiller, tensile strength

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Authors: A. Guerrero, A. Leon, S. Munoz, M. Sandoval

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The addition of solvent to cyclic steam stimulation is done in order to reduce the solvent-vapor ratio at late stages of the process, the moment in which this relationship increases significantly. The study of the use of naphtha in addition to the cyclic steam stimulation has been mainly oriented to the effect it achieves on the incremental recovery compared to the application of steam only. However, the effect of naphtha on the reactivity of crude oil components under conditions of cyclic steam stimulation or if its effect is the only dilution has not yet been considered, to author’s best knowledge. The present study aims to evaluate and understand the effect of naphtha and the conditions of cyclic steam stimulation, on the remaining composition of the improved oil, as well as the main mechanisms present in the heavy crude - naphtha interaction. Tests were carried out with the system solvent (naphtha)-oil (12.5° API, 4216 cP @ 40° C)- steam, in a batch micro-reactor, under conditions of cyclic steam stimulation (250-300 °C, 400 psi). The characterization of the samples obtained was carried out by MALDI-TOF MS (matrix-assisted laser desorption/ionization time-of-flight mass spectrometry) and NMR (Nuclear Magnetic Resonance) techniques. The results indicate that there is a rearrangement of the microstructure of asphaltenes, resulting in a decrease in these and an increase in lighter components such as resins.

Keywords: composition change, cyclic steam stimulation, interaction mechanism, naphtha

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Authors: Lucilla Crosta, Anthony Edwards

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Companies and the market place nowadays struggle to find employees with adequate skills in relation to anticipated growth of their businesses. At least half of workers will need to undertake some form of up-skilling process in the next five years in order to remain aligned with the requests of the market . In order to meet these challenges, there is a clear need to explore the potential uses of AI (artificial Intelligence) based tools in assessing transversal skills (critical thinking, communication and soft skills of different types in general) of workers and adult students while empowering them to develop those same skills in a reliable trustworthy way. Companies seek workers with key transversal skills that can make a difference between workers now and in the future. However, critical thinking seems to be the one of the most imprtant skill, bringing unexplored ideas and company growth in business contexts. What employers have been reporting since years now, is that this skill is lacking in the majority of workers and adult students, and this is particularly visible trough their writing. This paper investigates how critical thinking and communication skills are currently developed in Higher Education environments through use of AI tools at postgraduate levels. It analyses the use of a branch of AI namely Machine Learning and Big Data and of Neural Network Analysis. It also examines the potential effect the acquisition of these skills through AI tools and what kind of effects this has on employability This paper will draw information from researchers and studies both at national (Italy & UK) and international level in Higher Education. The issues associated with the development and use of one specific AI tool Edulai, will be examined in details. Finally comparisons will be also made between these tools and the more recent phenomenon of Chat GPT and forthcomings and drawbacks will be analysed.

Keywords: critical thinking, artificial intelligence, higher education, soft skills, chat GPT

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Authors: Dharshini S.

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India is currently experiencing a shift in wage discrimination from gender, caste and religion to different age groups in both formal and informal sectors. In this milieu, this study examines wage discrimination in the informal labour market between young people (15-29 years) and middle-aged people (30-59 years) among regular and casual employees in the Indian informal sector. The data was collected using periodic labour force (PLFS), and the original data was extracted from the National Sample Survey Office (NSSO) under the Ministry of Statistics and Programme Implementation (MOSPI), Government of India. The OLS regression model explores the determinants of wages for both regular and casual employees. Moreover, the Blinder Oaxaca decomposition method is used to explore the explained and unexplained components of this wage discrimination. The younger people (regular and casual employees) get lower wages as compared to middle-aged employees in the informal sector. The regression result follows the human capital theory, where education, job experience and higher occupation help to raise the wage rate of middle-aged people more than young-aged people in regular work. Furthermore, we found the rising trend of wage discrimination between the above groups over the years from 2017-18 to 2022-23. Unexplained factors (discrimination effects) contribute more to the wage differentiation between the young and middle age groups. It indicates that wage discrimination persists among regular and casual employees in the informal labour market, which is not a good sign for the economy. For the betterment of workers who face discrimination for age, the policies and programs should be implemented like other countries such as the U.S.A to stop age discrimination due to stereotypes in India.

Keywords: wage discrimination, young workers, middle workers, Informal sector, blinder oaxaca decomposition, PLFS.

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Authors: Saeed Ghali, Hoda El-Faramawy, Mamdouh Eissa, Michael Mishreky

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Scale-resistant austenitic stainless steel, X45CrNiW 18-9, has been developed, and modified steels produced through partial and total nickel replacement by nitrogen. These modified steels were produced in a 10 kg induction furnace under different nitrogen pressures and were cast into ingots. The produced modified stainless steels were forged, followed by air cooling. The phases of modified stainless steels have been investigated using the Schaeffler diagram, dilatometer, and microstructure observations. Both partial and total replacement of nickel using 0.33-0.50% nitrogen are effective in producing fully austenitic stainless steels. The nitrogen contents were determined and compared with those calculated using the Institute of Metal Science (IMS) equation. The results showed great deviations between the actual nitrogen contents and predicted values through IMS equation. So, an equation has been derived based on chemical composition, pressure, and temperature at 1600oC. [N%] = 0.0078 + 0.0406*X, where X is a function of chemical composition and nitrogen pressure. The derived equation has been used to calculate the nitrogen content of different steels using published data. The results reveal the difficulty of deriving a general equation for the prediction of nitrogen content covering different steel compositions. So, it is necessary to use a narrow composition range.

Keywords: solubility, nitrogen, stainless steel, Schaeffler

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Authors: Sheng-Long Lee, Tse-An Pan

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In this study, an optical microscope (OM), electron microscope (SEM), electrical conductivity meter (% IACS), hardness test, and wear test were subjected to analyze the microstructure of the wrought Al-11Si-3Cu-0.5Mg alloys. The effect of eutectic silicon morphology and alloy hardness on wear properties was investigated. The results showed that in the cast state, the morphology of eutectic silicon modified by strontium and antimony is lamellar and finer fibrous structure. After homogenization, the eutectic Si modified by Sr coarsened, and the eutectic Si modified by Sb refined due to fragmentation. The addition of modifiers, hot rolling, and solution aging treatment can control eutectic silicon morphology and hardness. The finer eutectic silicon and higher hardness have better wear resistance. During the wearing process, a protective oxide layer, also known as Mechanical Mixed Layer (MML), is formed on the surface of the alloy. The MML has higher stability and cracking resistance in Sr-modified alloys than in Sb-modified alloys. The study found that the wearing behavior of Al-11Si-3Cu-0.5Mg alloy was enhanced by the combination of adding Sr with lower solution time and T6 peak aging.

Keywords: Al-Si-Cu-Mg alloy, eutectic silicon, heat treatment, wear property

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Authors: Anmar Dulaimi, Hassan Al Nageim, Felicite Ruddock, Linda Seton

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Fast-curing cold bituminous emulsion mixture (CBEM) including active filler from high calcium fly ash (HCFA) and waste material (LJMU-A2) has been developed in this study. This will overcome the difficulties related with the use of hot mix asphalt such as greenhouse gases emissions and problems in keeping the temperature when transporting long distance. The aim of this study is to employ petrographic examinations using scanning electron microscopy (SEM) for characterizing the hydrates microstructure, in a new binary blended cement filler (BBCF) system. The new BBCF has been used as a replacement to traditional mineral filler in cold bituminous emulsion mixtures (CBEMs), comprises supplementary cementitious materials containing high calcium fly ash (HCFA) and a waste material (LJMU-A2). SEM analysis demonstrated the formation of hydrates after varying curing ages within the BBCF. The accelerated activation of HCFA by LJMU-A2 within the BBCF was revealed and as a consequence early and later stiffness was developed in novel CBEM.

Keywords: cold bituminous emulsion mixtures, indirect tensile stiffness modulus, scanning electron microscopy (SEM), and high calcium fly ash

Procedia PDF Downloads 274