Search results for: financial capacity

Authors: Robin Molinier

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Industrial symbiosis (I.S) rely on two modes of cooperation that are infrastructure sharing and resource substitution to obtain economic and environmental benefits. The former consists in the intensification of use of an asset while the latter is based on the use of waste, fatal energy (and utilities) as alternatives to standard inputs. Both modes, in fact, rely on the shift from a business-as-usual functioning towards an alternative production system structure so that in a business point of view the distinction is not clear. In order to investigate the way those cooperation modes can be distinguished, we consider the stakeholders' interplay in the business model structure regarding their resources and requirements. For infrastructure sharing (following economic engineering literature) the cost function of capacity induces economies of scale so that demand pooling reduces global expanses. Grassroot investment sizing decision and the ex-post pricing strongly depends on the design optimization phase for capacity sizing whereas ex-post operational cost sharing minimizing budgets are less dependent upon production rates. Value is then mainly design driven. For resource substitution, synergies value stems from availability and is at risk regarding both supplier and user load profiles and market prices of the standard input. Baseline input purchasing cost reduction is thus more driven by the operational phase of the symbiosis and must be analyzed within the whole sourcing policy (including diversification strategies and expensive back-up replacement). Moreover, while resource substitution involves a chain of intermediate processors to match quality requirements, the infrastructure model relies on a single operator whose competencies allow to produce non-rival goods. Transaction costs appear higher in resource substitution synergies due to the high level of customization which induces asset specificity, and non-homogeneity following transaction costs economics arguments.

Keywords: business model, capacity, sourcing, synergies

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Authors: Sutan Emir Hidayat, Latifa Hassan Al-Qassab

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The purpose of this study is to examine depositors’ awareness on the pursuit of corporate social responsibilities (CSR) conducted by Islamic retail banks in the Kingdom of Bahrain according to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards. The outcome of the paper is the extent to which the depositors knew about the banks’ CSR activities in promoting the welfare of the society beyond their business objectives. The study covered all Islamic retail banks in the Kingdom of Bahrain where a survey questionnaire was distributed to a total of 200 Islamic banks' depositors. The results of the survey show that the level of depositors’ awareness is limited on the pursuit of corporate social responsibilities by the banks as indicated by the small number of statements in the survey questionnaire which the respondents agreed to or of which they had satisfactory knowledge. The significant statistical difference in the respondents' answers to the survey questionnaire when they are grouped according to their respective banks prove that the level of depositors’ awareness on the pursuit of corporate social responsibilities varies considerably among the six Islamic retail banks in the kingdom. The findings of the study might be used to assist the policy makers in the field of CSR of Islamic financial institutions in formulation of better CSR activities and in delivering better services for the public welfare. The study also might help Islamic banks in the kingdom to set up strategy in order to increase the level of depositors’ awareness on their CSR activities.

Keywords: corporate social responsibilities, awareness, Islamic banks, Bahrain

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Authors: Daniela Monteiro

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Considering the entry into force of the new EU audit reform regarding statutory auditors, in effect in all member states since 2016, this research aims to identify which audit regulation rules are associated with a high-level audit quality on both its dimensions, i.e., the actual quality and the perceived quality, in relation to public interest entities, within the European Union, and whether those rules have the same impact on both dimensions. Its measurement was based on the following proxies: the quality of financial information through earnings management and the impact of qualified opinions on financial costs. We considered in the research regulation subjects such as auditors’ rotation and provision of services (NAS) and also the level of market concentration. The criteria to include these issues in the research was its contemplation of the new rules. We studied the period before the audit reform (2009-2015) when the regulation measures were less uniform. Besides the consideration of both dimensions of audit quality and several regulation measures, we believe our conclusions configure an important contribution to this research field, considering the involvement of the first 15 member states of the European Union. The results consolidate the assumption that the balance between competence and independence is not the only challenge related to the regulation of the audit profession. The evidence demonstrates that the balance between actual and perceived quality is also a relevant matter. The major conclusion is that the challenge is to keep balanced both actual and perceived audit quality whilst ensuring the independence and competence of auditors.

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Authors: Petar Dobrev

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There is no agreed-upon definition of firm quality. While profitability and stock performance often qualify as popular proxies of quality, in this project, we aim to identify quality without relying on a firm’s financial statements or stock returns as selection criteria. Instead, we use firm-level data on management practices across small to medium-sized U.S. manufacturing firms from the World Management Survey (WMS) to measure firm quality. Each firm in the WMS dataset is assigned a mean management score from 0 to 5, with higher scores identifying better-managed firms. This management score serves as our proxy for firm quality and is the sole criteria we use to separate firms into portfolios comprised of high-quality and low-quality firms. We define high-quality (low-quality) firms as those firms with a management score of one standard deviation above (below) the mean. To study whether this proxy for firm quality can identify better-performing firms, we link this data to Compustat and The Center for Research in Security Prices (CRSP) to obtain firm-level data on financial performance and monthly stock returns, respectively. We find that from 1999 to 2019 (our sample data period), firms in the high-quality portfolio are consistently more profitable — higher operating profitability and return on equity compared to low-quality firms. In addition, high-quality firms also exhibit a lower risk of bankruptcy — a higher Altman Z-score. Next, we test whether the stocks of the firms in the high-quality portfolio earn superior risk-adjusted excess returns. We regress the monthly excess returns on each portfolio on the Fama-French 3-factor, 4-factor, and 5-factor models, the betting-against-beta factor, and the quality-minus-junk factor. We find no statistically significant differences in excess returns between both portfolios, suggesting that stocks of high-quality (well managed) firms do not earn superior risk-adjusted returns compared to low-quality (poorly managed) firms. In short, our proxy for firm quality, the WMS management score, can identify firms with superior financial performance (higher profitability and reduced risk of bankruptcy). However, our management proxy cannot identify stocks that earn superior risk-adjusted returns, suggesting no statistically significant relationship between managerial quality and stock performance.

Keywords: excess stock returns, management, profitability, quality

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Authors: Nuhu Mohammed Gali, Kenichi Matsui

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Climate change poses a significant threat to agriculture and food security in Africa. The UNFCC recognized the need to address climate change adaptation in the broader context of sustainable development. African countries have initiated a governance system for adapting and responding to climate change in their Nationally Determined Contributions (NDCs). Despite the implementation limitations, Africa’s adaptation initiatives highlight the need to strengthen and expand adaptation responses. This paper looks at the extent to which South-South cooperation facilitates the implementation of adaptation actions between nations for agriculture and sustainable development. We conducted a literature review and content analysis of reports prepared by international organizations, reflecting the diversity of adaptation activities taking place in Sub-Saharan Africa. Our analysis of the connection between adaptation and nationally determined contributions (NDCs) showed that climate actions are mainstreamed into sustainable development. The NDCs in many countries on climate change adaptation action for agriculture aimed to strengthen the resilience of the poor. We found that climate-smart agriculture is the core of many countries target to end hunger. We revealed that South-South Cooperation, in terms of capacity, technology, and financial support, can help countries to achieve their climate action priorities and the Sustainable Development Goals (SDGs). We found that inadequate policy and regulatory frameworks between countries, differences in development priorities and strategies, poor communication, inadequate coordination, and the lack of local engagement and advocacy are some key barriers to South-South Cooperation in Africa. We recommend a multi-dimensional partnership, provisionoffinancialresources, systemic approach for coordination and engagement to promote and achieve the potential of SSC in Africa.

Keywords: climate change, adaptation, food security, sustainable development goals

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Authors: Lianne M. Q. Lee, Mohammed Sharaf Shaiban

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The importance of bank liquidity management took center stage as policy makers promoted a more resilient global banking system after the market turmoil of 2007. The growing recognition of Islamic banks’ function of intermediating funds in the economy warrants the need to investigate its balance sheet structure which is distinct from its conventional counterparts. Given that asymmetric risk, transformation is inevitable; Islamic banks need to identify the liquidity risk within their distinctive balance sheet structure. Thus, there is a strong need to quantify and assess the liquidity position to ensure proper functioning of a financial institution. It is vital to measure bank liquidity because liquid banks face less liquidity risk. We examine this issue by using two alternative quantitative measures of liquidity creation “cat fat” and “cat nonfat” constructed by Berger and Bouwman (2009). “Cat fat” measures all on balance sheet items including off balance sheet, whilst the latter measures only on balance sheet items. Liquidity creation is measured over the period 2007-2014 in 14 countries where Islamic and conventional commercial banks coexist. Also, separately by bank size class as empirical studies have shown that liquidity creation varies by bank size. An interesting and important finding shows that all size class of Islamic banks, on average have increased creation of aggregate liquidity in real dollar terms over the years for both liquidity creation measures especially for large banks indicating that Islamic banks actually generates more liquidity to the economy compared to its conventional counterparts, including from off-balance sheet items. The liquidity creation for off-balance sheets by conventional banks may have been affected by the global financial crisis when derivatives markets were severely hit. The results also suggest that Islamic banks have the higher volume of assets and deposits and that borrowing/issues of bonds are less in Islamic banks compared to conventional banks because most products are interest-based. As Islamic banks appear to create more liquidity than conventional banks under both measures, it translates that the development of Islamic banking is significant over the decades since its inception. This finding is encouraging as, despite Islamic banking’s overall size, it represents growth opportunities for these countries.

Keywords: financial institution, liquidity creation, liquidity risk, policy and regulation

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Authors: Eyibo Ebengeobong Eddie, Halil Zafer Alibaba

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The neglect of classroom acoustics is dominant in most educational facilities, meanwhile, hearing and listening is the learning process in this kind of facilities. A classroom should therefore be an environment that encourages listening, without an obstacles to understanding what is being taught. Although different studies have shown teachers to complain that noise is the everyday factor that causes stress in classroom, the capacity of individuals to understand speech is further affected by Echoes, Reverberation, and room modes. It is therefore necessary for classrooms to have an ideal acoustics to aid the intelligibility of students in the learning process. The influence of these acoustical parameters on learning and teaching in schools needs to be further researched upon to enhance the teaching and learning capacity of both teacher and student. For this reason, there is a strong need to provide and collect data to analyse and define the suitable quality of classrooms needed for a learning environment. Research has shown that acoustical problems are still experienced in both newer and older schools. However, recently, principle of acoustics has been analysed and room acoustics can now be measured with various technologies and sound systems to improve and solve the problem of acoustics in classrooms. These acoustic solutions, materials, construction methods and integration processes would be discussed in this paper.

Keywords: classroom, acoustics, materials, integration, speech intelligibility

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Authors: Ingrid Van Der Heijden, Naeemah Abrahams, Jane Harries

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Background: Women with disabilities are largely missing from global research on violence prevention, yet research shows that women with disabilities are a particularly marginalised group who experience heightened levels and unique forms of violence than men with disabilities, and women without disabilities. They face heightened stigma, discrimination, and violence due to their gender and their disability. Including women with disabilities in violence, research helps inform policy and prevention interventions that are relevant and inclusive. To ensure their inclusion in violence research, we need ethical guidelines that are sensitive to their heightened risk and vulnerability, that recognize the diversity in the disabled population, but that also promote disabled people’s agency in defining their own violence prevention needs and agendas. Objective: To highlight pertinent ethical issues around women with disabilities’ inclusion and participation in violence research. Methodology: Considering the lack of formalized guidelines for research of people with disabilities, we draw from the literature on international ethics guidelines for researching violence against women, and the Emancipatory Disability Research paradigm, as well as drawing from our own experiences from the field in applying the guidelines when doing research with disabled women. Findings: Following the guiding ethical principles of respect, benefit, justice, and do no harm, we argue that reasonable accommodation, capacity, and equal participation need to be considered in conceptualizing and conducting ethical violence research with women with disabilities. We conclude that disability research in the area of violence is highly politicized and must be carefully scrutinized to ensure justice and the contribution of women with disabilities to their own welfare. Implications: We suggest that these issues are practically applied in the field and tested and critiqued to enhance best practice for undertaking ethical research with this particular group. It is important that not only researchers and ethics committees, but also disabled women and disabled organizations, are involved in enhancing and formalizing ethical research guidelines for marginalized populations.

Keywords: capacity, emancipatory disability research paradigm equal participation, reasonable accommodation, research ethics, violence against women with disabilities

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Authors: Ghita Benayad

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Asset allocation, which affects the long-term profitability of portfolios by distributing assets to fulfill a range of investment objectives, is the cornerstone of investment management in the dynamic and complicated world of financial markets. This paper offers a technique for optimizing strategic asset allocation with the goal of improving portfolio performance by addressing the inherent complexity and uncertainty of the market through the use of Principal Component Analysis (PCA) in a multi-objective modeling framework. The study's first section starts with a critical evaluation of conventional asset allocation techniques, highlighting how poorly they are able to capture the intricate relationships between assets and the volatile nature of the market. In order to overcome these challenges, the project suggests a PCA-driven methodology that isolates important characteristics influencing asset returns by decreasing the dimensionality of the investment universe. This decrease provides a stronger basis for asset allocation decisions by facilitating a clearer understanding of market structures and behaviors. Using a multi-objective optimization model, the project builds on this foundation by taking into account a number of performance metrics at once, including risk minimization, return maximization, and the accomplishment of predetermined investment goals like regulatory compliance or sustainability standards. This model provides a more comprehensive understanding of investor preferences and portfolio performance in comparison to conventional single-objective optimization techniques. While applying the PCA-driven multi-objective optimization model to historical market data, aiming to construct portfolios better under different market situations. As compared to portfolios produced from conventional asset allocation methodologies, the results show that portfolios optimized using the proposed method display improved risk-adjusted returns, more resilience to market downturns, and better alignment with specified investment objectives. The study also looks at the implications of this PCA technique for portfolio management, including the prospect that it might give investors a more advanced framework for navigating financial markets. The findings suggest that by combining PCA with multi-objective optimization, investors may obtain a more strategic and informed asset allocation that is responsive to both market conditions and individual investment preferences. In conclusion, this capstone project improves the field of financial engineering by creating a sophisticated asset allocation optimization model that integrates PCA with multi-objective optimization. In addition to raising concerns about the condition of asset allocation today, the proposed method of portfolio management opens up new avenues for research and application in the area of investment techniques.

Keywords: asset allocation, portfolio optimization, principle component analysis, multi-objective modelling, financial market

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Authors: M. Rajabi, O. Moradi

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In this study, removal of Nickel and Zinc by graphene oxide and functionalized graphene oxide–gelaycin surfaces was examined. Amino group was added to surface of graphene oxide to produced functionalized graphene oxide–gelaycin. Effect of contact time and initial concentration of Ni (II) and Zn(II) ions were studied. Results showed that with increase of initial concentration of Ni (II) and Zn(II) adsorption capacity was increased. After 50 min has not a large change at adsorption capacity therefore, 50 min was selected as optimaze time. Scanning electron microscope (SEM) and fourier transform infrared (FT-IR) spectroscopy spectra used for the analysis confirmed the successful fictionalization of the Graphene oxide surface. Adsorption experiments of Ni (II) and Zn(II) ions graphene oxide and functionalized graphene oxide–gelaycin surfaces fixed at 298 K and pH=6. The Pseudo Firs-order and the Pseudo Second-order (types I, II, III and IV) kinetic models were tested for adsorption process and results showed that the kinetic parameters best fits with to type (I) of pseudo-second-order model because presented low X2 values and also high R2 values.

Keywords: graphene oxide, gelaycin, nickel, zinc, adsorption, kinetic, graphene oxide, gelaycin, nickel, zinc, adsorption, kinetic

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Authors: Maru R., Singh V. P.

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In this research, analytical study of the flexural strength of Concrete Filled Steel Tube (CFST) beams is carried out based on wide-range finite element models to obtain the better perspective for flexural strength achievement with the use of ABAQUS finite element program. This work adopts concrete damaged plasticity model to get the actual simulation of CFST under bending. To get the decent interaction between concrete and steel, normal and tangential surface interaction provided by ABAQUS is used with hard contact for normal surface interaction and for 0.65 friction coefficient for tangential surface interactions. In this study, rectangular and square CFST beam model cross-sections are adopted with its limits pertained to Eurocode specifications. To get the visualization for flexural strength of CFST beams, total of 74 rectangular CFST beams and 86 square CFST beams are used with four-point bending test setup and the length of the beam model as 1000mm. The grades of concrete and grades of steel are used as 30 MPa & 35MPa and 235 MPa and 275MPa respectively for both sections to get the confinement factor 0.583 to 2.833, steel ratio of 0.069 to 0.236 and length to depth ratio of 4.167 to 16.667. It was found based on this study that flexural strength of CFST beams falls around strain of 0.012. Eurocode provides the results harmonically with finite elemental results. It was also noted for square sections that reduction of steel ratio is not useful as compared to rectangular section although it increases moment capacity up to certain limits because for square sectional area similar to that of rectangular, it possesses lesser depth than rectangular sections. Also It can be said that effect of increment of grade of concrete can be achieved when thicker steel tube is present. It is observed that there is less increment in moment capacity initially but after D/b ratio 1.2, moment capacity of CFST beam rapidly.

Keywords: ABAQUS, CFST beams, flexural strength, four-point bending, rectangular and square sections

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Authors: Fiona Gibson

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This study is on sustainable capacity building in tourism management of the touristic destination of forts and castles within the Accra Metropolis, of the Greater Accra Region of Ghana, notably, the Christianbough Castle, the James and Ussher Forts. These forts and castle mentioned above have a rich colonial historical past that emerged from the 17th century onwards on the Gulf Coast of Guinea of the West Africa Sub-Region. Unfortunately, apart from the Christianbough Castle, which used to be the seat of government until recently, the environment of James and Ussher Forts are in a deployable state of decay due to years of neglect. Jamestown and Usshertown fishing communities with historical colonial past of a rich touristic heritage sites are predominantly indigenous Gas who speak only the Ga language, one of the languages of the six local languages spoken in Ghana, as a medium for sustainable tourism management. The purpose of this study is to investigate the reasons for years of decay and neglect, using both qualitative and quantitative research approach for individual interviews, to develop a rich picture of life situational story of the people of James and Ussher Forts environs and finding solutions to their predicaments through internal generated funds for sustainability of tourism management within the communities. The study recommends nation-wide educational campaigns and programmes on culture of maintenance and management for sustainable tourism development and management at all historical heritage sites in the country, specifically with the aim of promoting tourism in Ghana, using the indigenous local languages. The study also recommends formal and informal education for the residents, especially the youth to help them learn skills, either through local training or the formal education and this call for collaboration between the government of Ghana and other local and international bodies.

Keywords: sustainable capacity building, tourism management, forts, castles

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Authors: Nino Pailodze, Malkhaz Sulashvili, Vladimer Kekenadze, Tea Khutsishvili, Irma Makharashvili, Aleksandre Kekenadze

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In the nearest future among the important problems which Georgia has solve the most important is economic stability, that bases on fiscal policy and the proper definition of the its directions. The main source of the Budget revenue is the national income. The State uses taxes, loans and emission in order to create national income, were the principal weapon are taxes. As well as fiscal function of the fulfillment of the budget, tax systems successfully implement economic and social development and the regulatory functions of foreign economic relations. A tax is a mandatory, unconditional monetary payment to the budget made by a taxpayer in accordance with this Code, based on the necessary, nonequivalent and gratuitous character of the payment. Taxes shall be national and local. National taxes shall be the taxes provided for under this Code, the payment of which is mandatory across the whole territory of Georgia. Local taxes shall be the taxes provided for under this Code, introduced by normative acts of local self-government representative authorities (within marginal rates), the payment of which is mandatory within the territory of the relevant self-governing unit. National taxes have the leading role in tax systems, but also the local taxes have an importance role in tax systems. Exactly in the means of local taxes, the most part of the budget is formatted. National taxes shall be: income tax, profit tax, value added tax (VAT), excise tax, import duty, property tax shall be a local tax The property tax is one of the significant taxes in Georgia. The paper deals with the taxation mechanism that has been operated in Georgia. The above mention has the great influence in financial accounting. While comparing foreign legislation towards Georgian legislation we discuss the opportunity of using their experience. Also, we suggested recommendations in order to improve the tax system in financial accounting. In addition to accounting, which is regulated according the International Accounting Standards we have tax accounting, which is regulated by the Tax Code, various legal orders / regulations of the Minister of Finance. The rules are controlled by the tax authority, Revenue Service. The tax burden from the tax values are directly related to expenditures of the state from the emergence of the first day. Fiscal policy of the state is as well as expenditure of the state and decisions of taxation. In order to get the best and the most effective mobilization of funds, Government’s primary task is to decide the kind of taxation rules. Tax function is to reveal the substance of the act. Taxes have the following functions: distribution or the fiscal function; Control and regulatory functions. Foreign tax systems evolved in the different economic, political and social conditions influence. The tax systems differ greatly from each other: taxes, their structure, typing means, rates, the different levels of fiscal authority, the tax base, the tax sphere of action, the tax breaks.

Keywords: international accounting standards, financial accounting, tax systems, financial obligations

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Authors: Mansur Lubabah Kwanbo

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Existing literatures have demonstrated the importance of executive duality (ED) and audit committee (AC) in the financial growth of companies. To some extent this points to corporate governance mechanism aiming at addressing makers and implementers of company policies to be centered on promoting only company objectives. However, furthering organizational objectives needs an adequate structure of control to realize that. Recent development in the various industries in Nigeria have indicated the internal control system (ICS)has not been able to adequately address most of the activities that results in ills of sustaining growth for these industries. It is from this premise the study has as one of its objective to determine the extent to which ICS significantly relates to ED and AC in listed Nigerian corporation. Data were sourced from 308 financial statements and accounts of the corporations that made the sample of the study. Logistic regression aided the test of the hypothesis formulated for the study. Findings revealed a significant relationship between the study variables. The study concludes that the internal control system (ICS) is effective despite the bifurcation of executive duality (ED) and the presence of the Audit Committee (AC) to the extent of preventing ills that encourage lack of sustainability of company’s growth. Sustaining legitimate policies that translate into huge earnings, and create value to stake holders should be pursued.

Keywords: audit committee (AC), executive duality (ED), internal control system (ICS), Nigeria

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Authors: Funmilayo Sarah Eguakun, Peter Oluremi Adesoye

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One of the major problems being faced by human society is that the global temperature is believed to be rising due to human activity that releases carbon IV oxide (CO2) to the atmosphere. Carbon IV oxide is the most important greenhouse gas influencing global warming and possible climate change. With climate change becoming alarming, reducing CO2 in our atmosphere has become a primary goal of international efforts. Forest landsare major sink and could absorb large quantities of carbon if the trees are judiciously managed. The study aims at estimating the carbon sequestration capacity of Pinus caribaea (pine)and Tectona grandis (Teak) under the prevailing environmental conditions and exploring tree growth variables that influencesthe carbon sequestration capacity in Omo Forest Reserve, Ogun State, Nigeria. Improving forest management by manipulating growth characteristics that influences carbon sequestration could be an adaptive strategy of forestry to climate change. Random sampling was used to select Temporary Sample Plots (TSPs) in the study area from where complete enumeration of growth variables was carried out within the plots. The data collected were subjected to descriptive and correlational analyses. The results showed that average carbon stored by Pine and Teak are 994.4±188.3 Kg and 1350.7±180.6 Kg respectively. The difference in carbon stored in the species is significant enough to consider choice of species relevant in climate change adaptation strategy. Tree growth variables influence the capacity of the tree to sequester carbon. Height, diameter, volume, wood density and age are positively correlated to carbon sequestration. These tree growth variables could be manipulated by the forest manager as an adaptive strategy for climate change while plantations of high wood density speciescould be relevant for management strategy to increase carbon storage.

Keywords: adaptation, carbon sequestration, climate change, growth variables, wood density

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Authors: Boualem Chetti, Samir Zahaf

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This paper presents the steady-state performance analysis of a four-lobe journal bearing lubricated with a couple stress fluids operating in the turbulent regime, following Constantinescu’s turbulent lubrication theory. The modified Reynolds equation is solved numerically using the finite difference method taking into consideration the effects of the turbulence and the couple stress. In this analysis, the steady-state parameters in terms of the attitude angle, load carrying capacity, side leakage and friction coefficient are determined at various values of eccentricities ratio. The computed results show that the turbulence increases the load carrying capacity, the attitude angle and the friction coefficient for a journal bearing lubricated with a Newtonian or a couple stress fluids. It is found that the turbulence has strongly influence on the steady-state performances of the four-lobe journal bearing lubricated with Newtonian fluids or a couple stress fluids.

Keywords: Four-lobe journal bearings, static characteristics, couple-stress fluids, turbulent flow

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Authors: Alfonso Sepulveda, Brecht Put, Nouha Labyedh, Philippe M. Vereecken

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High energy and power density are the main requirements of today’s high demanding applications in consumer electronics. Lithium ion batteries (LIB) have the highest energy density of all known systems and are thus the best choice for rechargeable micro-batteries. Liquid electrolyte LIBs present limitations in safety, size and design, thus thin film all-solid state batteries are predominantly considered to overcome these restrictions in small devices. Although planar all-solid state thin film LIBs are at present commercially available they have low capacity (<1mAh/cm2) which limits their application scenario. By using micro-or nanostructured surfaces (i.e. 3D batteries) and appropriate conformal coating technology (i.e. electrochemical deposition, ALD) the capacity can be increased while still keeping a high rate performance. The main challenges in the introduction of solid-state LIBs are low ionic conductance and limited cycle life time due to mechanical stress and shearing interfaces. Novel materials and innovative nanostructures have to be explored in order to overcome these limitations. Thin film 3D compatible materials need to provide with the necessary requirements for functional and viable thin-film stacks. Thin film electrodes offer shorter Li-diffusion paths and high gravimetric and volumetric energy densities which allow them to be used at ultra-fast charging rates while keeping their complete capacities. Thin film electrolytes with intrinsically high ion conductivity (~10-3 S.cm) do exist, but are not electrochemically stable. On the other hand, electronically insulating electrolytes with a large electrochemical window and good chemical stability are known, but typically have intrinsically low ionic conductivities (<10-6 S cm). In addition, there is the need for conformal deposition techniques which can offer pinhole-free coverage over large surface areas with large aspect ratio features for electrode, electrolyte and buffer layers. To tackle the scaling of electrodes and the conformal deposition requirements on future 3D batteries we study LiMn2O4 (LMO) and Li4Ti5O12 (LTO). These materials are among the most interesting electrode candidates for thin film batteries offering low cost, low toxicity, high voltage and high capacity. LMO and LTO are considered 3D compatible materials since they can be prepared through conformal deposition techniques. Here, we show the scaling effects on rate performance and cycle stability of thin film cathode layers of LMO created by RF-sputtering. Planar LMO thin films below 100 nm have been electrochemically characterized. The thinnest films show the highest volumetric capacity and the best cycling stability. The increased stability of the films below 50 nm allows cycling in both the 4 and 3V potential region, resulting in a high volumetric capacity of 1.2Ah/cm3. Also, the creation of LTO anode layers through a post-lithiation process of TiO2 is demonstrated here. Planar LTO thin films below 100 nm have been electrochemically characterized. A 70 nm film retains 85% of its original capacity after 100 (dis)charging cycles at 10C. These layers can be implemented into a high aspect ratio structures. IMEC develops high aspect Si pillars arrays which is the base for the advance of 3D thin film all-solid state batteries of future technologies.

Keywords: Li-ion rechargeable batteries, thin film, nanostructures, rate performance, 3D batteries, all-solid state

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Authors: Jalal Soleimannejad, Mohammad Asadizeidabadi, Mahmoud Koorki, Mojtaba Azarpira

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A significant percentage of production costs is the maintenance costs, and analysis of maintenance costs could to achieve greater productivity and competitiveness. With this is mind, the maintenance of machines and installations is considered as an essential part of organizational functions and applying effective strategies causes significant added value in manufacturing activities. Organizations are trying to achieve performance levels on a global scale with emphasis on creating competitive advantage by different methods consist of RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance) etc. In this study, increasing the capacity of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GEG) was examined by using of reliability and maintainability analyses. The results of this research showed that instead of increasing the number of machines (in order to solve the bottleneck problems), the improving of reliability and maintainability would solve bottleneck problems in the best way. It should be mention that in the abovementioned study, the data set of Concentration Plant of GEG as a case study, was applied and analyzed.

Keywords: bottleneck, golgohar iron ore mining & industrial company, maintainability, maintenance costs, reliability

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Authors: Rupan Das Chakraborty, Surendra K. Martha

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Hard carbons (HCs) are extensively used as anode materials for sodium-ion batteries due to their availability, low cost, and ease of synthesis. It possesses the ability to store Na ion between stacked sp2 carbon layers and micropores. In this work, hard carbons are synthesized from different concentrations (0.5M to 5M) of dextrose solutions by hydrothermal synthesis followed by high-temperature calcination at 1100 ⁰C in an inert atmosphere. Dextrose has been chosen as a precursor material as it is a eco-friendly and renewable source. Among all hard carbon derived from different concentrations of dextrose solutions, hard carbon derived from 3M dextrose solution delivers superior electrochemical performance compared to other hard carbons. Hard carbon derived from 3M dextrose solution (Dextrose derived Hard Carbon-3M) provides an initial reversible capacity of 257 mAh g-1 with a capacity retention of 83 % at the end of 100 cycles at 30 mA g-1). The carbons obtained from different dextrose concentration show very similar Cyclic Voltammetry and chargedischarging behavior at a scan rate of 0.05 mV s-1 the Cyclic Voltammetry curve indicate that solvent reduction and the solid electrolyte interface (SEI) formation start at E < 1.2 V (vs Na/Na+). Among all 3M dextrose derived electrode indicate as a promising anode material for Sodium-ion batteries (SIBs).

Keywords: dextrose derived hard carbon, anode, sodium-ion battery, electrochemical performance

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Authors: Md. Shafiullah, Ali T. Al-Awami

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This project proposes optimal scheduling of imported power of a load aggregator with the utilization of EVs to maximize its profit. As with the increase of renewable energy resources, electricity price in competitive market becomes more uncertain and, on the other hand, with the penetration of renewable distributed generators in the distribution network the predicted load of a load aggregator also becomes uncertain in real time. Though there is uncertainties in both load and price, the use of EVs storage capacity can make the operation of load aggregator flexible. LA submits its offer to day-ahead market based on predicted loads and optimized use of its EVs to maximize its profit, as well as in real time operation it uses its energy storage capacity in such a way that it can maximize its profit. In this project, load aggregators profit maximization algorithm is formulated and the optimization problem is solved with the help of CVX. As in real time operation the forecasted loads differ from actual load, the mismatches are settled in real time balancing market. Simulation results compare the profit of a load aggregator with a hypothetical group of 1000 EVs and without EVs.

Keywords: CVX, electricity market, load aggregator, load and price uncertainties, profit maximization, real time balancing operation

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Authors: Ruth Nsibirano

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Online mode of delivery in higher institutions of learning, popularly known in some circles as e-Learning or distance education is a new phenomenon that is steadily taking root in African universities but specifically at Makerere University. For slightly over a decade, the Department of Open and Distance Learning has been offering the first generation mode of distance education. In this, learning and teaching experiences were based on the use of hard copy materials circulated through postal services in a rather correspondence mode. There were more challenges to this including high dropout rates, limited support to the learners and sustainability issues. Fortunately, the Department was supported by the Norwegian Government through a NORHED grant to “leapfrog” to the fifth generation of distance education that makes more use of educational technologies and tools. The capacity of faculty staff was gradually enhanced through a series of training to handle the upgraded structure of fifth generation distance education. The trained staff was then tasked to develop modules befitting an online delivery mode, for use on the program. This paper will present attitudes, experiences of the course writers with a view of sharing the good practices that enabled them leap from e-faculty trainees to distinct online course writers. This perspective will hopefully serve as building blocks to enhance the capacity of other upcoming distance education programs in low capacity universities and also promote the uptake of e-Education on the continent and beyond. Methodologically the findings were collected through individual interviews with the 30 course writers. In addition, semi structured questionnaires were designed to collect data on the profile, challenges and lessons from the writers. Findings show that the attitudes of course writers on project supported activities are so much tagged to the returns from their committed efforts. In conclusion, therefore, it is strategically useful to assess and selectively choose which individual to nominate for involvement at the initial stages.

Keywords: distance education, online course content, staff attitudes, best practices in online learning

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Authors: S. Shamohammadi, L. Razavi

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This paper based on the principle concepts of SCS-CN model, a new mathematical model for computation of retention potential (S) presented. In the mathematical model, not only precipitation-runoff concepts in SCS-CN model are precisely represented in a mathematical form, but also new concepts, called “maximum retention” and “total retention” is introduced, and concepts of potential retention capacity, maximum retention, and total retention have been separated from each other. In the proposed model, actual retention (F), maximum actual retention (Fmax), total retention (S), maximum retention (Smax), and potential retention (Sp), for the first time clearly defined, so that Sp is not variable, but a function of morphological characteristics of the watershed. Indeed, based on the mathematical relation of the conceptual curve of SCS-CN model, the proposed model provides a new method for the computation of actual retention in watershed and it simply determined runoff based on. In the corresponding relations, in addition to Precipitation (P), Initial retention (Ia), cumulative values of actual retention capacity (F), total retention (S), runoff (Q), antecedent moisture (M), potential retention (Sp), total retention (S), we introduced Fmax and Fmin referring to maximum and minimum actual retention, respectively. As well as, ksh is a coefficient which depends on morphological characteristics of the watershed. Advantages of the modified version versus the original model include a better precision, higher performance, easier calibration and speed computing.

Keywords: model, mathematical, retention, watershed, SCS

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index.

Keywords: fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality

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Authors: Jin Sheng

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This paper addresses a promising area of insurance sector to develop in Asia. Captive insurance, which provides risk-mitigation services for its parent company, has great potentials to develop in energy, infrastructure, agriculture, logistics, catastrophe, and alternative risk transfer (ART), and will greatly affect the framework of insurance industry. However, the Asian captive insurance market only takes a small proportion in the global market. The recent supply chain interruption case of Hanjin Shipping indicates the significance of risk management for an Asian company’s sustainability and resilience. China has substantial needs and great potentials to develop captive insurance, on account of the currency volatility, enterprises’ credit risks, and legal and operational risks of the Belt and Road initiative. Up to date, Mainland Chinese enterprises only have four offshore captives incorporated by CNOOC, Sinopec, Lenovo and CGN Power), three onshore captive insurance companies incorporated by CNPC, China Railway, and COSCO, as well as one industrial captive insurance organization - China Ship-owners Mutual Assurance Association. Its captive market grows slowly with one or two captive insurers licensed yearly after September 2011. As an international financial center, Hong Kong has comparative advantages in taxation, professionals, market access and well-established financial infrastructure to develop a functional captive insurance market. For example, Hong Kong’s income tax for an insurance company is 16.5%; while China's income tax for an insurance company is 25% plus business tax of 5%. Furthermore, restrictions on market entry and operations of China’s onshore captives make establishing offshore captives in international or regional captive insurance centers such as Singapore, Hong Kong, and other overseas jurisdictions to become attractive options. Thus, there are abundant business opportunities in this area. Using methodology of comparative studies and case analysis, this paper discusses the incorporation, regulatory issues, taxation and prospect of captive insurance market in Hong Kong, China and Singapore. Hong Kong and Singapore are both international financial centers with prominent advantages in tax concessions, technology, implementation, professional services, and well-functioning legal system. Singapore, as the domicile of 71 active captives, has been the largest captive insurance hub in Asia, as well as an established reinsurance hub. Hong Kong is an emerging captive insurance hub with 5 to 10 newly licensed captives each year, according to the Hong Kong Financial Services Development Council. It is predicted that Hong Kong will become a domicile for 50 captive insurers by 2025. This paper also compares the formation of a captive in Singapore with other jurisdictions such as Bermuda and Vermont.

Keywords: Alternative Risk Transfer (ART), captive insurance company, offshore captives, risk management, reinsurance, self-insurance fund

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Authors: Reyhaneh Saeedi

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Iran is one of the regions which are most prone for earthquakes annually having a large number of financial and mortality and financial losses. Every year around the world, a large number of people lose their home and life due to natural disasters such as earthquakes. It is necessary to provide and specify some suitable places for settling the homeless people before the occurrence of the earthquake, one of the most important factors in crisis planning and management. Some of the natural disasters can be Modeling and shown by Geospatial Information System (GIS). By using GIS, it would be possible to manage the spatial data and reach several goals by making use of the analyses existing in it. GIS has a determining role in disaster management because it can determine the best places for temporary resettling after such a disaster. In this research QuantumGIS software is used that It is an OpenSource software so that easy to access codes and It is also free. In this system, AHP method is used as decision model and to locate the best places for temporary resettling, is done based on the related organizations criteria with their weights and buffers. Also in this research are made the buffer layers of criteria and change them to the raster layers. Later on, the raster layers are multiplied on desired weights then, the results are added together. Eventually, there are suitable places for resettling of victims by desired criteria by different colors with their optimum rate in QuantumGIS platform.

Keywords: disaster management, temporary resettlement, earthquake, QuantumGIS

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Authors: Jeremiah L. Chukwuneke, Obiora E. Anisiji, Chinonso H. Achebe, Paul C. Okolie

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This paper developed a mathematical model of a commercial biogas plant for urban area clean energy requirement. It identified biodegradable waste materials like domestic/city refuse as economically viable alternative source of energy. The mathematical formulation of the proposed gas plant follows the fundamental principles of thermodynamics, and further analyses were accomplished to develop an algorithm for evaluating the plant performance preferably in terms of daily production capacity. In addition, the capacity of the plant is equally estimated for a given cycle of operation and presented in time histories. A nominal 1500 m3 power gas plant was studied characteristically and its performance efficiency evaluated. It was observed that the rate of bio gas production is essentially a function of the reactor temperature, pH, substrate concentration, rate of degradation of the biomass, and the accumulation of matter in the system due to bacteria growth. The results of this study conform to a very large extent with reported empirical data of some existing plant and further model validations were conducted in line with classical records found in literature.

Keywords: energy and mass conservation, specific growth rate, thermophilic bacteria, temperature, rate of bio gas production

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Authors: Paolo Biancone, Silvana Secinaro, Davide Calandra

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This study explores the integration of Islamic finance principles with environmental, social, and governance (ESG) criteria, focusing on the contribution of Islamic financial instruments to achieving sustainable development goals (SDGs). Through a systematic literature review (SLR) and bibliometric analysis of 66 documents from 2019 to 2024, the research addresses critical gaps by examining the alignment between Islamic finance and ESG, identifying emerging trends, and assessing operational challenges and opportunities. Findings indicate that Islamic finance, mainly through instruments such as green sukuk and Islamic microfinance, demonstrates substantial alignment with ESG objectives, anchored in its ethical principles of risk-sharing, fairness, and avoidance of harmful investments. Nevertheless, scalability and regulatory structures pose significant challenges to broader ESG adoption within Islamic finance. This study offers theoretical and practical implications, proposing that Islamic finance provides a solid framework to address sustainability shortcomings in conventional finance. Furthermore, it highlights future research directions, emphasizing the need for empirical studies on the long-term impact of Islamic financial products on sustainability outcomes and exploring the role of fintech in ESG integration.

Keywords: Islamic finance, ESG, SDGs, bibliometric analysis, Shariah-compliant investments

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Authors: Tichaona Nharingo, Hope Tauya, Mambo Moyo

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Wood ash has been demonstrated to have favourable adsorption capacity for heavy metal ions but suffers the application problem of difficult to separate/isolate from the batch adsorption systems. Fabrication of wood ash beads using multifunctional group and non-toxic carbohydrate, alginate, may improve the applicability of wood ash in environmental pollutant remediation. In this work, alginate-wood ash beads (AWAB) were fabricated and applied to the removal of cadmium ions from aqueous systems. The beads were characterized by FTIR, TGA/DSC, SEM-EDX and their pHZPC before and after the adsorption of Cd(II) ions. Important adsorption parameters i.e. pH, AWAB dosage, contact time and ionic strength were optimized and the effect of initial concentration of Cd(II) ions to the adsorption process was established. Adsorption kinetics, adsorption isotherms, adsorption mechanism and application of AWAB to real water samples spiked with Cd(II) ions were ascertained. The composite adsorbent was characterized by a heterogeneous macro pore surface comprising of metal oxides, multiple hydroxyl groups and carbonyl groups that were involved in electrostatic interaction and Lewis acid-base interactions with the Cd(II) ions. The pseudo second order and the Freundlich isotherm models best fitted the adsorption kinetics and isotherm data respectively suggesting chemical sorption process and surface heterogeneity. The presence of Pb(II) ions inhibited the adsorption of Cd(II) ions (reduced by 40 %) attributed to the competition for the adsorption sites. The Cd(II) loaded beads could be regenerated using 0.1 M HCl and could be applied to four sorption-desorption cycles without significant loss in its initial adsorption capacity. The high maximum adsorption capacity, stability, selectivity and reusability of AWAB make the adsorbent ideal for application in the removal of Cd(II) ions from real water samples. Column type adsorption experiments need to be explored to establish the potential of the adsorbent in removing Cd(II) ions using continuous flow systems.

Keywords: adsorption, Cd(II) ions, regeneration, wastewater, wood ash-alginate beads

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Authors: Hong-Jin Joo, Hee-Yoel Kwak

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Vacuum Membrane Distillation (VMD) uses pressure lower than the atmospheric pressure. The feed seawater is capable of producing more vapor at the same temperature than Direct Contact Membrane Distillation (DCMD), Air Gap Membrane Distillation (AGMD) or Sweep Gas Membrane Distillation (SGMD). It is advantageous because it is operable at a lower temperature than other membrane distillations. However, no commercial product is available that uses the VMD method, as it is still in the study stage. In this study, therefore, thermal performance test according to the feed water conditions was performed prior to both construction of the demonstration plant, which uses VMD module of the capacity of 400m³/d in South Korea, and commercialization of VMD module with hollow fiber membrane. Such study was performed by designing and constructing the VMD module of the capacity of 2 m³/day which utilizes the polyvinylidene fluoride (PVDF) hollow fiber membrane. The results obtained from the VMD module manufactured by ECONITY Co., Ltd in South Korea, showed that the maximum performance ratio (PR) value of 0.904, feed water temperature of 75 ℃, and the flow rate of 8 m3/h. As the temperature of and flow rate of the feed water increased, the PR value of the VMD module also increased.

Keywords: membrane distillation, vacuum membrane distillation, hollow fiber membrane, desalination

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Authors: Baskar Kotte

Abstract:

Many organizations are constantly striving to implement numerous techniques for long-term sustainability, for food related organizations it is imperative to conceptualize the critical concepts which constitute food safety sustainability. This presentation provides three critical pillars to develop a sustainable organization. Financial sustainability, regulatory sustainability and excellence standards sustainability are the three components which practiced and implemented effectively with process performance metrics defined objectives and targets lead to sustainable and safe food organizations. The participants take away a well-developed concept diagram with all elements impacting sustainability. Proven disciplined path which worked to achieve desired results is presented for effective implementation. Effective implementation of this proven disciplined path positions organizations to achieve world class status with bottomline improvement. Additionally, this presentation highlights critical terms, principles and implementation difficulties related to using the proven disciplined path. This presentation is beneficial for business leaders, food safety compliance managers, food safety practitioners, financial managers, Lean & Six sigma continual improvement managers, BRC/SQF/ IFS / FSSC 22000 practitioners and food manufacturing personnel.

Keywords: food safety, sustainability, regulatory, lean, six sigma, bottom-line improvement disciplined path

Procedia PDF Downloads 280