Search results for: financial products

Authors: Fariba Azizi, Firoozeh Haghighi, Viliam Makis

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In this paper, we propose a method to model the relationship between failure time and degradation for a simple step stress test where underlying degradation path is linear and different causes of failure are possible. It is assumed that the intensity function depends only on the degradation value. No assumptions are made about the distribution of the failure times. A simple step-stress test is used to shorten failure time of products and a tampered failure rate (TFR) model is proposed to describe the effect of the changing stress on the intensities. We assume that some of the products that fail during the test have a cause of failure that is only known to belong to a certain subset of all possible failures. This case is known as masking. In the presence of masking, the maximum likelihood estimates (MLEs) of the model parameters are obtained through an expectation-maximization (EM) algorithm by treating the causes of failure as missing values. The effect of incomplete information on the estimation of parameters is studied through a Monte-Carlo simulation. Finally, a real example is analyzed to illustrate the application of the proposed methods.

Keywords: cause of failure, linear degradation path, reliability function, expectation-maximization algorithm, intensity, masked data

Procedia PDF Downloads 315

Authors: Lorenzo Cocola, Massimo Fedel, Dragiša Savić, Bojana Danilović, Luca Poletto

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An instrument for the detection and evaluation of gaseous carbon dioxide in the headspace of closed containers has been developed in the context of Packsensor Italian-Serbian joint project. The device is based on Tunable Diode Laser Absorption Spectroscopy (TDLAS) with a Wavelength Modulation Spectroscopy (WMS) technique in order to accomplish a non-invasive measurement inside closed containers of fermented dairy products (yogurts and fermented cheese in cups and bottles). The purpose of this instrument is the continuous monitoring of carbon dioxide concentration during incubation and storage of products over a time span of the whole shelf life of the product, in the presence of different microorganisms. The instrument’s optical front end has been designed to be integrated in a thermally stabilized incubator. An embedded computer provides processing of spectral artifacts and storage of an arbitrary set of calibration data allowing a properly calibrated measurement on many samples (cups and bottles) of different shapes and sizes commonly found in the retail distribution. A calibration protocol has been developed in order to be able to calibrate the instrument on the field also on containers which are notoriously difficult to seal properly. This calibration protocol is described and evaluated against reference measurements obtained through an industry standard (sampling) carbon dioxide metering technique. Some sets of validation test measurements on different containers are reported. Two test recordings of carbon dioxide concentration evolution are shown as an example of instrument operation. The first demonstrates the ability to monitor a rapid yeast growth in a contaminated sample through the increase of headspace carbon dioxide. Another experiment shows the dissolution transient with a non-saturated liquid medium in presence of a carbon dioxide rich headspace atmosphere.

Keywords: TDLAS, carbon dioxide, cups, headspace, measurement

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Authors: Kobus-Cisowska Joanna, Flaczyk Ewa, Gramza-Michalowska Anna, Kmiecik Dominik, Przeor Monika, Marcinkowska Agata, Korczak Józef

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Cereal products, including mainly bread is a staple food known from the beginning of history throughout the world. It is now believed that there is no replacement of the basic food. Bread, due to the high content of starch is the energy source for the proper functioning of our body. It also contains proteins, fats, vitamins, especially of the B group and vitamin E, a number of minerals, and fiber. The aim of the study was to evaluate the antioxidant activity of new developed bread premixes with mulberry fruits for people with anemia, diabetes, obesity and cardiovascular disease. From the finished product-bread, aqueous and methanol extracts was prepared, which in next step were analyzed to assess the activity of the radical DPPH test, ABTS, chelating activity, the ability to reduce metals. Extracts were prepared from bread were acquired with premixes directly after production and stored for three months. The resulting trial breads effect by different mechanisms of antioxidant. They showed the ability to scavenge radicals ABTS and DPPH and chelating activity. Methanol extracts showed significantly greater antioxidant activity in comparison with aqueous extracts, and the largest effect was estimated for sample of bread for anemia, diabetes and cardiovascular disease. The greatest ability to scavenging ABTS radicals showed breads for anemia, diabetes and cardiovascular disease, while smaller for anemia and control sample. It was shown that the methanol extracts of the breads samples showed no ability to chelate iron (II). These properties are observed only in the aqueous extracts. The greatest ability attempt had anemia while the lowest control sample. Financial supported by the UE Project no POIG 01.01.02-00-061/09.

Keywords: morus alba, antioxidant activity, free radicals, polyphenols

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Authors: Sónia Ribeiro, Diana Farinha, Elsa Pereira, Hélia Sales, Filipa Figueiredo, Rita Pontes, João Nunes

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Conventional plastic impacts on Planet, natural resources contamination, human health as well as animals are the most attractive environmental and health attention. The lack of treatment in the end-of-life (EOL) phase and uncontrolled discard allows plastic to be found everywhere in the world. Food waste is increasing significantly, with a final destination to landfills. To face these difficulties, new packaging solutions are needed with the objective of prolonging the shelf-life of products as well as equipment solutions for the development of the mentioned packaging. FLUI project thus presents relevance and innovation to reach a new level of knowledge and industrial development focused in Ecodesign. Industrial equipment field for the manufacture of new packaging solutions based on biodegradable plastics films to apply in the food sector. With lesser environmental impacts and new solutions that make it possible to prevent food waste, reduce the production e consequent poor disposal of plastic of fossil origin. It will be a paradigm shift at different levels, from industry to waste treatment stations, passing through commercial agents and consumers. It can be achieved through the life cycle assessment (LCA) and ecodesign of the products, which integrates the environmental concerns in the design of the product as well as through the entire life cycle. The FLUI project aims to build a piece of new bio-PLA extrusion equipment with the incorporation of bioactive extracts through the production of flexible mono- and multi-layer functional films (FLUI systems). The biofunctional and biodegradable films will prompt the extension of packaged products’ shelf-life, reduce food waste and contribute to reducing the consumption of non-degradable fossil plastics, as well as the use of raw material from renewable sources.

Keywords: food packing, bioplastics, ecodesign, circular economy

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Authors: Anne Eugenia Wright

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This study examines issues in accessibility to maritime cultural heritage. Using the Pillar Dollar Wreck in Biscayne National Park, Florida, this study presents an approach to public outreach based on the concept of Design for All. Design for All advocates creating products that are accessible and functional for all users, including those with visual, hearing, learning, mobility, or economic impairments. As a part of this study, a small exhibit was created that uses 3D products as a way to bring maritime cultural heritage to the public. It was presented to the public at East Carolina University’s Joyner Library. Additionally, this study presents a methodology for 3D printing scaled photogrammetry models of archaeological sites in full color. This methodology can be used to present a realistic depiction of underwater archaeological sites to those who are incapable of accessing them in the water. Additionally, this methodology can be used to present underwater archaeological sites that are inaccessible to the public due to conditions such as visibility, depth, or protected status. This study presents a practical use for 3D photogrammetry models, as well as an accessibility strategy to expand the outreach potential for maritime archaeology.

Keywords: Underwater Archaeology, 3D Printing, Photogrammetry, Design for All

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Authors: Laila Algalal, Chen Xi

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The US dollar has long served as the world's primary reserve currency. However, this dominance faces growing challenges from internal US economic pressures and the rise of alternative currencies. Internally, issues like high debt, inflation, reduced competitiveness, and economic instability due to inequality in economic policies threaten the dollar's position. Externally, more countries are establishing alternative currencies, payment systems, and regional financial institutions to reduce dollar dependence. These drivers have contributed to a decline in the dollar's share of global foreign exchange reserves from 71% in 2001 to an estimated 58% in 2022. While this 13-percentage point drop took two decades, recent initiatives suggest de-dollarization could accelerate in the coming few decades. Efforts to establish non-dollar trade deals and alternative financial systems show more substantial progress compared to initiatives in the early 2000s. As the nature of the world system is anarchic, states make either individual or group efforts to guarantee their economic security and achieve their interests. Based on neoclassical realism, this paper analyzes both internal and external US economic factors driving current and future de-dollarization and the implications on the international monetary system, in addition to examining the motivation for such moves.

Keywords: de-dollarization, US dollar, monetary system, economic security, economic policies.

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Authors: Edlira Donefski, Lorenc Ekonomi, Tina Donefski

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Edgeworth approximation is one of the most important statistical methods that has a considered contribution in the reduction of the sum of standard deviation of the independent variables’ coefficients in a Quantile Regression Model. This model estimates the conditional median or other quantiles. In this paper, we have applied approximating statistical methods in an economical problem. We have created and generated a quantile regression model to see how the profit gained is connected with the realized sales of the cosmetic products in a real data, taken from a local business. The Linear Regression of the generated profit and the realized sales was not free of autocorrelation and heteroscedasticity, so this is the reason that we have used this model instead of Linear Regression. Our aim is to analyze in more details the relation between the variables taken into study: the profit and the finalized sales and how to minimize the standard errors of the independent variable involved in this study, the level of realized sales. The statistical methods that we have applied in our work are Edgeworth Approximation for Independent and Identical distributed (IID) cases, Bootstrap version of the Model and the Edgeworth approximation for Bootstrap Quantile Regression Model. The graphics and the results that we have presented here identify the best approximating model of our study.

Keywords: bootstrap, edgeworth approximation, IID, quantile

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Authors: T. S. Beerenahally, S. Amruthavalli, C. M. Munegowda, Leelavathi, Nagarathna

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Introduction: In majority of urban India, the health system is split between different authorities being responsible for the health care of urban population. We believe that, apart from poor awareness and financial barriers to care, there are other health system barriers which affect quality and access to care for people with diabetes. In this paper, we attempted to identify health system complexity that determines access to public health system for diabetes care in KG Halli, a poor urban neighborhood in Bengaluru. The KG Halli has been a locus of a health systems research from 2009 to 2015. Methodology: The source of data is from the observational field-notes written by research team as part of urban health action research project (UHARP). Field notes included data from the community and the public primary care center. The data was generated by the community health assistants and the other research team members during regular home visits and interaction with individuals who self-reported to be diabetic over four years as part of UHARP. Results: It emerged during data analysis that the patients were not keen on utilizing primary public health center for many reasons. Patient has felt that the service provided at the center was not integrated. There was lack of availability of medicines, with a regular stock out of medicines in a year and laboratory service for investigation was limited. Many of them said that the time given by the providers was not sufficient and there was also a feeling of providers not listening to them attentively. The power dynamics played a huge role in communication. Only the consultation was available for free of cost at the public primary care center. The patient had to spend for the investigations and the major portion for medicine. Conclusion: Diabetes is a chronic disease that poses an important emerging public health concern. Most of the financial burden is borne by the family as the public facilities have failed to provide free care in India. Our study indicated various factors including individual beliefs, stigma and financial constraints affecting compliance to diabetes care.

Keywords: diabetes care, disintegrated health system, quality of care, urban health

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Authors: Hatice Akbıyık, Hülya Gökmen Özel, Nagehan Emiralioğlu, Elmas Ebru Güneş Yalçın, Deniz Doğru Ersöz, Hayriye Uğur Özçelik, Nural Kiper

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Background: Dietary recommendations in cystic fibrosis (CF) are based on the need to compensate for the increased energy needs of infection, the increased energy cost of breathing and the losses, incurred from malabsorption. Studies in CF indicate that dietary recommendations for CF patients can be difficult to achieve Aim: The aim of this study was to evaluate the energy and nutrient intakes and to compare in accordance with CF dietary guidelines in CF. Methods: One-hundred sixty patients with CF, aged between 2 to 20 years (mean±SD= 7.4±4.8 years) attending Hacettepe University, Faculty of Medicine, Department of Pediatric Pulmonary Diseases were included. Energy and nutrient intakes from foods and enteral products were calculated using a-24-hour dietary recall method with BEBIS 7.2 programme. Percentages of energy and nutrient intakes were compared in accordance with CF dietary guidelines. Patients or/and parents completed a questionnaire showing mealtime problems, usage of alternative therapies and type of nutrition. Statistical analyses were done using SPSS 16.0 programme. Results: It was obtained that 14.5% and 46.9% of the total energy intake were from proteins and carbohydrates, respectively. The actual contribution of total, saturated, monounsaturated and polyunsaturated fats to the total caloric intake was 37.5%, 14.3%, 14.9%, 9.9%, respectively. It was found that 87.7% of energy, 85% of protein 91.7% of carbohydrate, 81.1% of fat intakes were met, when compared CF recommended intakes of 120% RDA. Additionally 67%, 69.5%, 68.2% and 68.9% of the subjects did not achieve CF recommended intakes of 120% RDA for energy, protein, carbohydrate and fat, respectively. Patients with CF had low intakes for age for almost all vitamins and minerals, although supplementation was given. Especially most patients did not achieve the minimum recommended vitamin K intake of 120% RDA. The percentage meeting 120% RDA was 75.9% for vitamin K. It was shown that 41% of the patients had mealtime problems and they skipped the breakfast. Moreover 25.4% of the patients used alternative products outside the standard treatment (such as omega-3, ginger, turmeric, local honey). It was also showed that 60.8% of patients were using enteral products in addition to normal foods, the remaining patients were on only normal foods. Conclusion: The aims of improving nutritional status in children are to achieve normal weight gain and growth; optimize vitamin and mineral status; and slow the rate of clinical decline. In this study although enteral products were used in patients with CF, it was found that energy and nutrient requirements were unable to meet. Because dietary assessment is essential to identify the need for earlier nutritional intervention, in each visit patients need to be referred to CF specialist dietitian.

Keywords: cystic fibrosis, energy and nutrient intakes, mealtime problems, malabsorbtion

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Authors: Viktorija Mano

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The objective of my research is to critique the International Monetary Fund (IMF) stance on foreign investment and the benefits for small, open economies of allowing the free movement of capital. In my research as a whole I will explore the extent to which this stance impacted upon and influenced the economic policies of Macedonia. This will involve providing a contextualized, critical account of the policy of the IMF focusing on a comparison of its policies during the early 2000s through policy documents, political discourse and enacted policies in Macedonia. The conditionality associated with these policies, such as the enforcement of austerity measures (including cutting public spending and reducing debt) and the privatization of public institutions has provoked strong reactions in countries which receive such loans. My main focus in my research is on exploring how the process of Financial Liberalization (FL) of the Macedonian economy affected capital flows in the form of foreign direct investments (FDI) in the private sector and how the recent Greek crisis of 2008 has impacted on this. In the case of Macedonia, the reality of FL was tested by the collapse of the Greek economy. However, this paper will highlight the main duties of the IMF and the goals of the FL process implemented in various countries.Additionally, I will undertake a rhetorical documentary analysis on the IMF reports regarding the process of FL in Macedonia since its independence until today.

Keywords: FDI, financial liberalization, Greece, IMF, Macedonia

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Authors: Kadir Mokrane, Souag Doudja

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In Algeria, one of the Mediterranean countries, water resources are limited and unevenly distributed in space and in time. Boumerdes, coastal town of Algeria, known for its farming and fishing activities. The region is also known for its semi-arid climate and a large water deficit. In order to preserve the quality of water bodies and to reduce withdrawals in the natural environment, it is necessary to seek alternative supplies. The reuse of treated wastewater seems to be a good alternative, especially for irrigation. In the framework of sustainable development, it is imperative to rationalize the use of water resources conventional and unconventional. That is why the re-use agricultural of by-products of the treatment is an alternative expected to preserve the environment and promotion of the agricultural sector. The present work aims, to search for the possibility of reuse of treated wastewater, and sludge resulting from treatment plant of the city of Boumerdes in agriculture, through the analysis of physical, chemical and bacteriological on the samples, and the continuous monitoring of the evolution of several elements during the period of study extended over 12 months, and then, the comparison of these test results to standards and guidelines established in the framework of irrigation and land application.

Keywords: treated water, sewage sludge, recycling, agriculture

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Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

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The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Charintorn Suwannawong, Tananpon Yavilas, Sopida Boonaneksap, Chotika Viriyarattanasak, Chairath Tangduangdee

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With increasing aging population and health conscious consumers, the demand for health promoting products such as functional foods, dietary supplements, and nutraceutical products has continuously increased in Thailand. Nevertheless, the strategic framework for regulatory functional food developments in Thailand is still unclear. The objective of this study was to survey stakeholders’ perspectives on three scopes, consisting of 1) the current status 2) obstacles, and 3) future trend for the development and production of functional foods in Thailand. A survey was conducted by interviewing ten experts from governmental organization, industrial sector and academic institute. The obtained results show that there is no established definition for functional foods in Thailand. There is a variety of raw materials that are capable to be potential ingredients for functional food production in Thailand and exported to global market. However, the scaling up technology into a commercial production is limited. Moreover, there is a need to establish the infrastructures, such as testing laboratory, and regulatory standards for quality control and ensuring product safety. This information is useful for government in the development of the strategic framework and policy statement on improvement of functional food industry in Thailand.

Keywords: functional foods, interview, perspective, Thailand

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Authors: Niranjani Wickramsinghe, Mario Soares, Stuart Johnson, Ranil Cooray, Vijay Jayasena

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Tempeh is a traditional fermented soya bean food in Indonesia which is produced from de-hulled soya fermented with Rhizopusoligosporus. Natto is a traditional Japanese food made from whole soya bean seed fermentation with the bacteriaBacillus subtilis natto. Lupin is a grain legume with a low content of the phytoestrogenic isoflavones genistein and daidzein compared to soya. However due a comparable nutrition profile and increased cost effectiveness relative to soy, lupin has been substituted into various oriental fermented foods such as tempe and natto. Lupin tempeh and lupin natto were prepared using either WS or DHS. Analysis for genistein and daidzein content was conducted using HPLC for time points zero, 12h, 24h, 36h, 48h and 72h after fermentation. Results revealed that the amount of genistein and daidzein significantly increased with time in both tempeh and natto. Both isoflavones peaked at 48h in lupin tempeh and earlier at 36h in lupin natto. WS tempeh and WS natto had significantly more genistein than WHS tempe and WHS natto. Diadzeincontent of WHS tended to be higher than WS across both products. It is concluded that, fermentation time increased the amount of genistein and daidzein content in both lupin tempeh and natto and the form of lupin raw material used affected the genistein level and to some extent the daidzein content of fermented products.

Keywords: lupin, natto, soya, tempeh

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Authors: Saloni Khanderia

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The World Trade Organisation’s (WTO) Information Technology Agreement (ITA), was concluded at the Singapore Ministerial Conference in 1996. The ITA is considered to be one of the biggest tariff-cutting deals because it eliminates all customs-related duties on the exportation of specific categories of information technology products to the territory of any other signatory to the Agreement. Over time, innovations in the information and communication technology (ICT) sector mandated the consideration of expanding the list of products covered by the ITA, which took place in the form of ITA-II negotiations during the WTO’s Nairobi Ministerial Conference. India, which was an original Member of the ITA-I, however, decided to opt-out of the negotiations to expand the list of products covered by the agreement. Instead, it preferred to give priority to its national policy initiative, namely the ‘Make-in-India’ programme [the MiI programme], which embarks upon fostering the domestic production of, inter alia, the ICT sector. India claims to have abstained from the ITA-II negotiations by stating that the zero-tariff regime created by the ITA-I debilitated its electronics-manufacturing sectors and on the contrary resulted in an over-reliance on imported electronic inputs. The author undertakes doctrinal research to examine India’s decision to opt-out of ITA-II negotiations, against the backdrop of the MiI Programme, which endeavours to improve productivity across-the-board. This paper accordingly scrutinises the tariff-cutting strategies of India to weigh the better alternative for India. Apropos, it examines whether initiatives like the MiI programme could plausibly resuscitate the ailing domestic electronics-manufacturing sector. The author opines that the country’s present decision to opt-out of ITA-II negotiations should be perceived as a welcome step. Thus, market-oriented reforms such as the MiI Programme, which focuses on indigenous innovation to improve domestic manufacturing in the ICT sector, should instead, in the present circumstances gain priority. Consequently, the MiI Programme would aid in moulding the country’s current tariff policy in a manner that will concurrently assist the promotion and sustenance of domestic manufacturing in the IT sector.

Keywords: electronics-manufacturing sector, information technology agreement, make in india programme, world trade organisation

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Authors: Kim Quy Le, Duan Fei, Jia Wei Chew, Jun Zeng, Maria Fabiola Leyva

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In line with the sustainable development goal, molded fiber products play important roles in reducing plastic-based packaging. To fabricate molded fiber products, besides using conventional meshing tools, 3D printing is employed to manufacture the molded fiber screen. 3D printing technique allows printing molded fiber screens with complex geometry, flexible in pore size and shape. The 3D printed molded fiber screens are in the progress of investigation to improve the de-watering efficiency, fiber collection, mechanical strength, etc. In addition, the fiber distribution on the screen is also necessary to access the quality of the screen. Besides using experimental methods to capture the fiber distribution on screen, simulation also offers using tools to access the uniformity of fiber. In this study, the fiber was simulated using the multi-sphere model to simulate the fibers. The interaction of the fibers was able to mimic by employing the discrete element method. The fiber distribution was captured and compared to the experiment. The simulation results were able to reveal the fiber deposition layer upon layer and explain the formation of uneven thickness on the tilted area of molded fiber screen.

Keywords: 3D printing, multi-jet fusion, molded fiber screen, discrete element method

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Authors: Suglo Tohari Luri

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Data analysis is an important aspect of business performance. With the application of artificial intelligence within databases, selecting a suitable database engine for an application design is also very crucial for business data analysis. The application of business intelligence (BI) software into some relational databases such as Neo4j has proved highly effective in terms of customer data analysis. Yet what remains of great concern is the fact that not all business organizations have the neo4j business intelligence software applications to implement for customer data analysis. Further, those with the BI software lack personnel with the requisite expertise to use it effectively with the neo4j database. The purpose of this research is to demonstrate how the Neo4j program code alone can be applied for the analysis of e-commerce website customer visits. As the neo4j database engine is optimized for handling and managing data relationships with the capability of building high performance and scalable systems to handle connected data nodes, it will ensure that business owners who advertise their products at websites using neo4j as a database are able to determine the number of visitors so as to know which products are visited at routine intervals for the necessary decision making. It will also help in knowing the best customer segments in relation to specific goods so as to place more emphasis on their advertisement on the said websites.

Keywords: data, engine, intelligence, customer, neo4j, database

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Authors: Niyati Sharma, Om Anand, Sanjeev Kumar Prasad

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Assuming future sale value for any of the organizations is one of the major essential characteristics of tactical development. Walmart Sales Forecasting is the finest illustration to work with as a beginner; subsequently, it has the major retail data set. Walmart uses this sales estimate problem for hiring purposes also. We would like to analyzing how the internal and external effects of one of the largest companies in the US can walk out their Weekly Sales in the future. Demand forecasting is the planned prerequisite of products or services in the imminent on the basis of present and previous data and different stages of the market. Since all associations is facing the anonymous future and we do not distinguish in the future good demand. Hence, through exploring former statistics and recent market statistics, we envisage the forthcoming claim and building of individual goods, which are extra challenging in the near future. As a result of this, we are producing the required products in pursuance of the petition of the souk in advance. We will be using several machine learning models to test the exactness and then lastly, train the whole data by Using linear regression and fitting the training data into it. Accuracy is 8.88%. The extra trees regression model gives the best accuracy of 97.15%.

Keywords: random forest algorithm, linear regression algorithm, extra trees classifier, mean absolute error

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Authors: Nancy Sakr, Mohamed Abou-Zeid

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World energy consumption has increased rapidly in the past few years. Due to population growth, total energy consumption is increasing; a large amount of energy is wasted on the cooling and heating processes in buildings. However, using thermal heating management can minimize costs, heat consumption and create a management system for the heat insulation for buildings. This concept is being implemented through different approaches. Based on analysis and research, there is evidence in the energy consumption before and after testing and applying construction approaches for thermal heating management in building units. This investigation addresses the evaluation of the influence of external coatings on energy consumption. Coatings are considered one of the smart effective available approaches for energy efficiency. Unfortunately, this approach is not widely applied in the construction industry. It needs more data to prove effectiveness and credibility between people to use it as a smart thermal insulation approach. Two precedents have been analyzed in order to monitor buildings’ heat exposure, and how the buildings will be affected by thermal insulation materials. Data sheets from chemical companies which produce similar coatings are compared with the usual products and the protective thermal products.

Keywords: energy consumption, building envelope, thermal insulation, protective coatings

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Authors: Elena Tkachenko, Vladimir Kokh, Alina Osipenko, Vladislav Surkov

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The modern period of development of Russian economy is fraught with a number of problems related to limitations in the use of traditional planning and financial management tools. Restrictions in the use of foreign software when performing an order of the Russian Government, on the one hand, and sanctions limiting the support of the major ERP and MRP II systems in the Russian Federation, on the other hand, entail the necessity to appeal to the basics of developing budgeting and analysis systems for industrial enterprises. Thus, cost calculation theory becomes the theoretical foundation for the development of industrial cost management systems. Based on the foregoing, it would be fair to make an assumption that the development of a working managerial accounting model on an industrial enterprise using an automated enterprise resource management system should rest upon the concept of the inevitability of alterations of business processes. On the other hand, optimized business processes make the architecture of financial analytics more transparent and permit the use of all the benefits of data cubes. The metrics and indicator slices provide online assessment of the state of key business processes at a given moment of time, which improves the quality of managerial decisions considerably. Therefore, the bilateral sanctions situation boosted the development of corporate business analytics and took industrial companies to the next level of understanding of business processes.

Keywords: cost culculation, ERP, OLAP, modern Russian economy

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Authors: Jie Liu, Wei Wei, Chun-Ping Chang

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Using a sample of 110 countries over the period 1984-2013, this paper examines the impacts of country risks on choosing a specific exchange rate regime (first by utilizing the Levy-Yeyati and Sturzenegger de facto classification and then robusting it by the IMF de jure measurement) relative to other regimes via the panel multinomial logit approach. Empirical findings are as follows. First, in the full samples case we provide evidence that government is more likely to implement a flexible regime, but less likely to adopt a fixed regime, under a low level of composite and financial risk. Second, we find that Eurozone countries are more likely to choose a fixed exchange rate regime with a decrease in the level of country risk and favor a flexible regime in response to a shock from an increase of risk, which is opposite to non-Eurozone countries. Third, we note that high-risk countries are more likely to choose a fixed regime with a low level of composite and political risk in the government, but do not adjust the exchange rate regime as a shock absorber when facing economic and financial risks. It is interesting to see that those countries with relatively low risk display almost opposite results versus high-risk economies. Overall, we believe that it is critically important to account for political economy variables in a government’s exchange rate policy decisions, especially for country risks. All results are robust to the panel ordered probit model.

Keywords: country risk, political economy, exchange rate regimes, shock absorber

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Authors: Ilias A. Makris

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In this work, we attempt to associate firm characteristics with innovative activity. We collect microdata from listed firms of selected Eurozone Country-members, after the beginning of 2007 financial crisis. The following literature, several indicators of growth and performance were selected and tested for their ability to interpret innovative activity. The main scope is to examine the possible differences in performance and growth between innovative and non-innovative firms, during a severe recession. Additionally to that, a special focus will be held on whether macroeconomic performance and national innovation system, determines the extent of innovators' performance. Preliminary findings, through correlation matrices and non-parametric tests, strongly indicate the positive relation between innovative activity and most of the measures used (profitability, size, employment), confirming that even during a recessionary period, innovative firms not only survive but also seem to succeed better economic results in almost all indexes relative to non-innovative. However, even though innovators seem to perform better in all economies examined, the extent of that performance seems to be strongly affected by the supportive mechanisms (financial and structural) that their country provides. Thus, it is clear, that the technologically intensive 'gap' between European South and North, during the economic crisis, became chaotic, due to the harsh austerity measures and reduced budgets in those countries, even in sectors with high potentials in economic activity and employment, impairing the effects of crisis and enhancing the vicious circle of recession.

Keywords: eurozone, innovative activity, development, firm performance, non-parametric tests

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Authors: Noel Busch-Armendariz, Caitlin Sulley

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Introduction: This study investigated the development of college experiences, COVID-19 pandemic experiences, alcohol use, and sexual violence. The longitudinal study includes 656 college students living in the same dormitory. Students' alcohol use and social network structure were investigated to better understand the relationship with sexual violence risk. Basic Methodologies: Over two years, students repeated five web-based surveys, including a pre-college survey and surveys during four consecutive semesters. Questions were added in the fourth wave to assess students’ experiences of the COVID-19 pandemic, administered from November-January 2021, including mental and behavioral health. Analyses include the impact of COVID on living arrangements, drinking behaviors, and daily life; experiences of COVID symptoms, testing, and diagnosis, responses to COVID such as social distancing, quarantining, not working, increased health care needs; experience of fear, worry, stigma, emotional well-being, loneliness, and mental health; experiences of financial loss, lack of basic supplies, receiving emotional and financial support, and comparison with academic disengagement. Concluding Statement: Findings and discussion will include strategies to strengthen mental and behavioral health programs and policies.

Keywords: COVID, mental health, substance abuse, college students, sexual misconducts

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Authors: Jehad Dumireih, Malak Dmirieh, Michael Wink

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The present work is aimed to use plant cell suspension cultures of Crataegus monogyna for biosynthesis of valuable natural products by using quercetin as an inexpensive precursor. Suspension cell cultures of C. monogyna were established by using Murashige and Skoog medium (MS) supplemented with 1 mg/L 2,4-dichlorophenoxyacetic acid and 1 mg/L kinetin. Cells were harvested from the cultures and extracted by using methanol and ethyl acetate; then the extracts were used for the identification of isoquercetin by HPLC and by mass spectrometry. The incubation of the cells with 0.24 mM quercetin for one week resulted in an 16 fold increase of isoquercetin biosynthesis; the growth rate of the cells increased by 20%. Moreover, the biosynthesis of isoquercetin was enhanced by 40% when we divided the added quercetin into three portions each one with concentration 0.12 mM supplied at 3 days intervals. In addition, we didn’t find any positive effects of adding different concentrations the precursors phenylalanine (0.2 mM) and galactose to the cell cultures. In conclusion, the efficiency of the biotransformation of quercetin into isoquercetin depended on the concentration quercetin, its incubation time and the way of its administration. The results of the present work suggest that the biotechnological methods such as cell suspension cultures could be successfully used to obtain highly valuable natural product starting from inexpensive compound.

Keywords: biosynthesis, biotransformation, Crataegus, isoquercetin

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Authors: Harneet Walia, Morteza Zihayat

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Customer acquisition has become one of the critical issues of any business in the 21st century; having a healthy customer base is the essential asset of the bank business. Term deposits act as a major source of cheap funds for the banks to invest and benefit from interest rate arbitrage. To attract customers, the marketing campaigns at most financial institutions consist of multiple outbound telephonic calls with more than one contact to a customer which is a very time-consuming process. Therefore, customized direct marketing has become more critical than ever for attracting new clients. As customer acquisition is becoming more difficult to archive, having an intelligent and redefined list is necessary to sell a product smartly. Our aim of this research is to increase the effectiveness of campaigns by predicting customers who will most likely subscribe to the fixed deposit and suggest the most suitable month to reach out to customers. We design a Time Aware Upsell Prediction Framework (TAUPF) using two different approaches, with an aim to find the best approach and technique to build the prediction model. TAUPF is implemented using Upsell Prediction Approach (UPA) and Clustered Upsell Prediction Approach (CUPA). We also address the data imbalance problem by examining and comparing different methods of sampling (Up-sampling and down-sampling). Our results have shown building such a model is quite feasible and profitable for the financial institutions. The Time Aware Upsell Prediction Framework (TAUPF) can be easily used in any industry such as telecom, automobile, tourism, etc. where the TAUPF (Clustered Upsell Prediction Approach (CUPA) or Upsell Prediction Approach (UPA)) holds valid. In our case, CUPA books more reliable. As proven in our research, one of the most important challenges is to define measures which have enough predictive power as the subscription to a fixed deposit depends on highly ambiguous situations and cannot be easily isolated. While we have shown the practicality of time-aware upsell prediction model where financial institutions can benefit from contacting the customers at the specified month, further research needs to be done to understand the specific time of the day. In addition, a further empirical/pilot study on real live customer needs to be conducted to prove the effectiveness of the model in the real world.

Keywords: customer acquisition, predictive analysis, targeted marketing, time-aware analysis

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Authors: Boonsiri Dandumrongsin, Halis Simsek, Chaiwat Rongsayamanont

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Dissolved organic nitrogen (DON) is known as one of the persistence nitrogenous pollutant being originated from secondary treated effluent of municipal sewage treatment plant. However, effect of key system operating condition on the fate and behavior of residual DON in the treated effluent is still not known. This study aims to investigate effect of organic loading rate (OLR) on the residual level of DON in the biofilm reactor effluent. Synthetic municipal wastewater was fed into moving bed biofilm reactors at OLR of 1.6x10-3 and 3.2x10-3 kg SCOD/m3-d. The results showed higher organic removal efficiency was found in the reactor operating at higher OLR. However, DON was observed at higher value in the effluent of the higher OLR reactor than that of the lower OLR reactor evidencing a clear influence of OLR on the residual DON level in the treated effluent of the biofilm reactors. It is possible that the lower DON being observed in the reactor at lower OLR is likely to be a result of providing the microbe with the additional period for utilizing the refractory DON molecules during operation at lower organic loading. All the experiments were repeated using raw wastewaters and similar trend was obtained.

Keywords: dissolved organic nitrogen, hydraulic retention time, moving bed biofilm reactor, soluble microbial products

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Authors: Farhan Saeed, Imran Pasha, Faqir M. Anjum, Muhammad U. Arshad

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Introduction: Cereals especially wheat is one example in this respite as it contains several nutrients and phytochemicals. In this regard, presences of non-starch polysaccharides are of significance value e.g. arabinoxylans (AX) and arabinogalactans (AG). These ingredients possess several functional and nutritional properties and in this project, efforts were directed to extract AX and AG from different spring wheat varieties of Pakistan and subsequent utilization in cereal based baked products. Methodology: In the present study, effort was made to characterize eight different spring wheats e.g. Lasani-08, FSD-08, Mairaj-08, Shafaq-06, Sehar-06, Bhakkar-02, Uqab-2000 and Inqalab-91 with special reference to non-starch polysaccharides (arabinoxylans and arabinogalactans) extraction followed by their utilization in baked products. Major Findings of Study: Results showed that the arabinoxylans and arabinogalactans content in whole wheat flour of different wheat varieties ranged from 2.93 to 4.68% and 0.47 to 0.93%, respectively while in bran, they ranged from 11.71 to 18.38% and 1.07-4.43%, respectively. Phenolic compounds i.e. ferulic acid, p-coumaric acids were 1.12 and 19.6mg/100g, respectively. Owing to presence of these phenolic compounds, it has persuasive antioxidant potential. Arabinoxylan has negative impact on gluten quality as reduced gluten strength was observed while significant results were obtained for rheological characteristic. Moreover, adding Arabinoxylan and arabinogalactan in bread formulation resulted in significant increase in volume and texture of the final product. In addition, the hardness of bread lessened considerably due to the increase in the concentration of arabinoxylan and arabinogalactan. Additionally, fracturability of bread improved as the both non-starch polysaccharides levels increased. The highest gumminess value was given to Shafaq-06 with increasing trend from control to 0.5% arabinoxylan. Whilst with the addition of arabinogalactan, the highest bread gumminess value (155.74 ± 6.1, 156.32 ± 7.9) was also observed in Shafaq-06. Concluding Statement: Conclusively, it may be inferred that non-starch polysaccharides hold potential to be extracted and utilized in cereal based products for best quality and value addition.

Keywords: non-starch polysaccharides, arabinoxylan, arabinogalactan, bread

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Authors: Noriyuki Suyama

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This paper looked into consumer behavioral changes by analyzing the data collected by ASMARKS Co., one of a research companies in Japan. The purpose of the paper is to understand the two differences of before vs. after COVID-19 pandemic and Japanese living in Japan. Subsequently, examining the analysis results helped obtain useful insights into new business models for business parties in Japan as a microlevel perspective. The paper also tried to explore future conditions of globalization by taking into consideration nation’s political and economic changes as a macro-level perspective. The COVID-19 has been continuing its spread across the world with more than 60 million confirmed cases in 190 countries. This pandemic with restricted scopes of behavior mandates have disrupted the consumer habits of their lifestyles. Consumers have tendency to learn new ways when they have trouble in taking routine action. For example, the government forces people to refrain from going out, they try to telecommute at home. If the situation come back to normal, people still change their lifestyles to fit in the best. Some of data show typical effects of COVID-19; forceful exposure to digitalized work-life styles; more flexible time at home; importance of trustful and useful information gathering between what's good and bad;etc. in comparison with before vs. after COVID-19 pandemic. In addition, Japanese have less changed their lifestyles than Expatriates living in Japan. For example, while 94% of the expatriates have decreased their outgo because of self-quarantine, only 55% of the Japanese have done. There are more differences in both comparisons in the analysis results. The economic downtrend resulting from COVID-19 is supposed to be at least as devastating if not more so than that of the financial crisis. With unemployment levels in the US taking two weeks to reach what took 6 months in the 2008 crisis, there is no doubt of a global recession some predict could reach 10% or above of GDP. As a result, globalization in the global supply chain of goods and services will end up with negative impact. A lot of governmental financial and economic policies are supposed to focus on their own profits and interests, exclusing other countries interests as is the case with the Recovery Act just after the global financial crisis from 2007 to 2008. Both micro- and macro-levels analysis successfully reveal important connotations and managerial implications of business in Japan for Japanese consumers as well as after COVID-19 global business.

Keywords: COVID-19, lifestyle in Japan, expatriates, consumer behavior

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Authors: Sareh Rajabi, Salwa Bheiry

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In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.

Keywords: portfolio management, risk management, COVID-19, analytical hierarchy process technique

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Authors: Asma Righi

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After the global financial crisis of 2008, interest in ethical economics increased, particularly in the field of finance in general and commercial banks in particular. Indeed, it has become imperative for them to move from an institution that aims to make a profit to a community partner that takes the environmental aspect into account in its funding, rationalizes its decisions and adheres to ethics in its dealings. This leads it to the need of adopting the concept of ethical finance and standing on its most important principles and dimensions to realize profits on the one hand and to serve its society and its economy on the other hand. The objective of this research is centered on knowing the reality of the Algerian commercial banks’ adoption of the dimensions and principles of ethical finance. The quantitative methodology used is based on a questionnaire survey of twenty-four banking agencies in the states of Bordj Bou Arreridj and Setif. The data obtained were processed using the Statistical Package for the Social Sciences (SPSS) program. This research led to two main results: first, the author observed a limited application of the principles of ethical finance in commercial banks active in Algeria. This application is particularly in line with the implementation of the directives of the Central Bank and the imposed monetary policy. Second, the results showed that there is a significant difference in the application of ethical financial dimensions and principles between government and foreign banks.

Keywords: Algerian commercial banks, ethical banking, ethical finance, socially responsible investment

Procedia PDF Downloads 145