Search results for: financial products

Authors: J. Gochermann

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German energy market is under historical change. Turning-off the nuclear power plants and intensive subsidization of the renewable energies causes a paradigm change from big central energy production and distribution to more local structures, bringing the energy production near to the consumption. The formerly big energy market with only a few big energy plants and grid operating companies is changing into a disperse market with growing numbers of small and medium size companies (SME) generating new value-added products and services. This change in then energy market, in Germany called the “Energiewende”, inverts also the previous innovation system. Big power plants and large grids required also big operating companies. Innovations in the energy market focused mainly on big projects and complex energy technologies. Innovation in the new energy market structure is much more dispersed. Increasing number of SME is now able to develop energy production and storage technologies, smart technologies to control the grids, and numerous new energy related services. Innovation is now regional distributed, which is a remarkable problem for the old big energy companies. The paper will explain the change in the German energy market and the paradigm change as well as the consequences for the innovation structure in the German energy market. It will show examples how SME participate from this change and how innovation systems, as well for the big companies and for SME, can be adapted.

Keywords: changing energy markets, disperse innovation, new value-added products and services, SME

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Authors: Pei-Jun Xue, Ming-Yu Hsiao

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Language is the emblem of a culture, representing the extension of cultural life. In addition, it is also an important tool for communication and message transmission. It carries not only information but also covers the self-conscious of the information constructor as well as the situational experiences of users from different backgrounds. Moreover, design can be regarded as a language, a dynamic process of coding and decoding. With the designers’ experiences in everyday life, they bring them into the products’ experiences. Considered from the aspects of atmosphere and the five senses, a designer should consider and reconsider how to communicate the messages effectively to suit the users’ needs. In the process of language learning, we should understand the construction behind it and the rules of the compositions of language codes. Regarding the understanding of the design of works or the form of product construction, it is necessary for us to understand the coding system during the process of product construction. The form (signifiers) and meanings (signified) of Chinese characters are closely related. At the same time, it is also a process of simplifying the complicated to the simple. This study discusses the chinese characters that used in the cultural symbols construction, and analysis of existing products by Peirce's semiotic triangles. Through people's cognition of Chinese characters and constitute method, help to understand the way of construction product symbol.

Keywords: cultural-creative product design, cultural product, cultural symbols, linguistic symbols

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Authors: Maryam Ziaee

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This research proposes a new approach and provides an opportunity for manufacturing companies to produce large amounts of products that meet their prospective customers’ tastes, needs, and expectations and simultaneously enable manufacturers to increase their profit. Mass customization is the production of products or services to meet each individual customer’s desires to the greatest possible extent in high quantities and at reasonable prices. This process takes place at different levels such as the customization of goods’ design, assembly, sale, and delivery status, and classifies in several categories. The main focus of this study is on one class of mass customization, called optional customization, in which companies try to provide their customers with as many options as possible to customize their products. These options could range from the design phase to the manufacturing phase, or even methods of delivery. Mass customization values customers’ tastes, but it is only one side of clients’ satisfaction; on the other side is companies’ fast responsiveness delivery. It brings the concept of agility, which is the ability of a company to respond rapidly to changes in volatile markets in terms of volume and variety. Indeed, mass customization is not effectively feasible without integrating the concept of agility. To gain the customers’ satisfaction, the companies need to be quick in responding to their customers’ demands, thus highlighting the significance of agility. This research offers a different method that successfully integrates mass customization and fast production in manufacturing industries. This research is built upon the hypothesis that the success key to being agile in mass customization is to forecast demand, cooperate with suppliers, and control inventory. Therefore, the significance of the supply chain (SC) is more pertinent when it comes to this stage. Since SC behavior is dynamic and its behavior changes constantly, companies have to apply one of the predicting techniques to identify the changes associated with SC behavior to be able to respond properly to any unwelcome events. System dynamics utilized in this research is a simulation approach to provide a mathematical model among different variables to understand, control, and forecast SC behavior. The final stage is delayed differentiation, the production strategy considered in this research. In this approach, the main platform of products is produced and stocked and when the company receives an order from a customer, a specific customized feature is assigned to this platform and the customized products will be created. The main research question is to what extent applying system dynamics for the prediction of SC behavior improves the agility of mass customization. This research is built upon a qualitative approach to bring about richer, deeper, and more revealing results. The data is collected through interviews and is analyzed through NVivo software. This proposed model offers numerous benefits such as reduction in the number of product inventories and their storage costs, improvement in the resilience of companies’ responses to their clients’ needs and tastes, the increase of profits, and the optimization of productivity with the minimum level of lost sales.

Keywords: agility, manufacturing, resilience, supply chain

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Authors: Urvi Shah, Anmol Jain

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The talks of a New Global Order have been doing rounds since the advent of 21st century. Similar change in global scenario was witnessed when the Bretton Woods System came up post the World War II. The changing world order has been analyzed by using the Purchasing Power Parity (PPP) and Nominal Gross Domestic Product (GDP) estimates. The PPP and Nominal GDP methods show the purchasing power and financial background of the countries respectively, which helps in knowing both real and nominal financial strength of the country. Today, the rising powers of BRICS are posing new challenges to the world order shaped by the West. BRICS, i.e. Brazil, Russia, India, China and South Africa, countries have at various instances represented the interests of developing countries at world forums. The pooled population of these nations accounts for 41.6% of the total world population which gives a very resilient idea of the workforce or human resources which is mobilized by them. They have a combined GDP (PPP) of around 30.57% of the total world GDP (PPP). The paper tries to analyze the prospects and impact of the New Development Bank (NDB) formerly known as the BRICS Bank, on world economy, which has the potential to act as a rival to West dominated IMF and World Bank. The paper studies the paradigm shift in the global order, impact of the NDB on third world nations and the developed nations. The study concluded that the relative positions of BRICS countries in the world economy are changing, irrespective of the measurement methodology being US$ or the PPP model.

Keywords: BRICS, New Development Bank, Nominal GDP, purchasing power parity

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Authors: Weiju Zhou, Alex Hopkins, Ruoling Chen

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Background: China has increased the gap in income between richer and poorer over the past 40 years, and the number of deaths from people with angina has been rising. It is unclear whether socioeconomic status (SES) is associated with increased mortality in older people with angina. Methods: Data from a cohort study of 2,380 participants aged ≥ 65 years, who were randomly recruited from 5-province urban communities were examined in China. The cohort members were interviewed to record socio-demographic and risk factors and document doctor-diagnosed angina at baseline and were followed them up in 3-10 years, including monitoring vital status. Multivariate Cox regression models were employed to examine all-cause mortality in relation to low SES. Results: The cohort follow-up identified 373 deaths occurred; 41 deaths in 208 angina patients. Compared to participants without angina (n=2,172), patients with angina had increased mortality (multivariate adjusted hazard ratio (HR) was 1.41, 95% CI 1.01-1.97). Within angina patients, the risk of mortality increased with low satisfactory income (2.51, 1.08-5.85) and having financial problem (4.00, 1.07-15.00), but significantly with levels of education and occupation. In non-angina participants, none of these four SES indicators were associated with mortality. There was a significant interaction effect between angina and low satisfactory income on mortality. Conclusions: In China, having low income and financial problem increase mortality in older people with angina. Strategies to improve economic circumstances in older people could help reduce inequality in angina survival.

Keywords: angina, mortality, older people, socio-economic status

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Authors: Sukanya Pradhan, Smita Mohanty, S. K Nayak

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Plant oils are a great renewable source for being a reliable starting material to access new products with a wide spectrum of structural and functional variations. Even though petroleum products might also render the same, but it would also impose a high risk factor of environmental and health hazard. Since epoxidized vegetable oils are easily available, eco-compatible, non-toxic and renewable, hence these have drawn much of the attentions in the polymer industrial sector especially for the development of eco-friendly coating materials. In this study a waterborne epoxy coating was prepared from epoxidized soyabean oil by using triethanolamine. Because of its hydrophobic nature, it was a tough and tedius task to make it hydrophilic. The hydrophobic biobased epoxy was modified into waterborne epoxy by the help of a plant based anhydride as curing agent. Physico-mechanical, chemical resistance tests and thermal analysis of the green coating material were carried out which showed good physic-mechanical, chemical resistance properties as well as environment friendly. The complete characterization of the final material was done in terms of scratch hardness, gloss test, impact resistance, adhesion and bend test.

Keywords: epoxidized soybean oil, waterborne, curing agent, green coating

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Authors: Beena Sethi

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This work involves the degradation of plastic waste in the presence of three different nanocatalysts. A thin film of LLDPE was formed with all three nanocatalysts separately in the solvent. Thermo Gravimetric Analysis (TGA) and Differential Scanning Calorimetric (DSC) analysis of polymers suggest that the presence of these catalysts lowers the degradation temperature and the change mechanism of degradation. Gas chromatographic analysis was carried out for two films. In gas chromatography (GC) analysis, it was found that degradation of pure polymer produces only 32% C3/C4 hydrocarbons and 67.6% C5/C9 hydrocarbons. In the presence of these catalysts, more than 80% of polymer by weight was converted into either liquid or gaseous hydrocarbons. Change in the mechanism of degradation of polymer was observed therefore more C3/C4 hydrocarbons along with valuable feedstock are produced. Adjustment of dose of nanocatalyst, use of nano-admixtures and recycling of catalyst can make this catalytic feedstock recycling method a good tool to get sustainable environment. The obtained products can be utilized as fuel or can be transformed into other useful products. In accordance with the principles of sustainable development, chemical recycling i.e. tertiary recycling of polymers along with the reuse (zero order recycling) of plastics can be the most appropriate and promising method in this direction. The tertiary recycling is attracting much attention from the viewpoint of the energy resource.

Keywords: degradation, differential scanning calorimetry, feedstock recycling, gas chromatography, thermogravimetric analysis

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Authors: Tanvir A. Uddin, Blake Goud

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Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.

Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change

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Authors: Jelena Filipovic, Marija Bodroza-Solarov, Milenko Kosutic, Nebojsa Novkovic, Vladimir Filipovic, Vesna Vucurovic

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Spelt wheat is suitable raw material for extruded products such as pasta, special types of bread and other products of altered nutritional characteristics compared to conventional wheat products. During the process of extrusion, spelt is exposed to high temperature and high pressure, during which raw material is also mechanically treated by shear forces. Spelt wheat is growing without the use of pesticides in harsh ecological conditions and in marginal areas of cultivation. So it can be used for organic and health safe food. Pasta is the most popular foodstuff; its consumption has been observed to rise. Pasta quality depends mainly on the properties of flour raw materials, especially protein content and its quality but starch properties are of a lesser importance. Pasta is characterized by significant amounts of complex carbohydrates, low sodium, total fat fiber, minerals, and essential fatty acids and its nutritional value can be improved with additional functional component. Over the past few decades, wheat pasta has been successfully formulated using different ingredients in pasta to cater health-conscious consumers who prefer having a product rich in protein, healthy lipids and other health benefits. Flaxseed flour is used in the production of bakery and pasta products that have properties of functional foods. However, it should be taken into account that food products retain the technological and sensory quality despite the added flax seed. Flaxseed contains important substances in its composition such as vitamins and minerals elements, and it is also an excellent source of fiber and one of the best sources of ω-3 fatty acids and lignin. In this paper, the quality and identification of spelt extruded product with the addition of flax seed, which is positively contributing to the nutritive and technology changes of the product, is investigated. ω-3 fatty acids are polyunsaturated essential fatty acids, and they must be taken with food to satisfy the recommended daily intake. Flaxseed flour is added in the quantity of 10/100 g of sample and 20/100 g of sample on farina. It is shown that the presence of ω-3 fatty acids in pasta can be clearly distinguished from other fatty acids by gas chromatography with mass spectrometry. Addition of flax seed flour influence chemical content of pasta. The addition of flax seed flour in spelt pasta in the quantities of 20g/100 g significantly increases the share of ω-3 fatty acids, which results in improved ratio of ω-6/ω-3 1:2.4 and completely satisfies minimum daily needs of ω-3 essential fatty acids (3.8 g/100 g) recommended by FDA. Flex flour influenced the pasta quality by increasing of hardness (2377.8 ± 13.3; 2874.5 ± 7.4; 3076.3 ± 5.9) and work of shear (102.6 ± 11.4; 150.8 ± 11.3; 165.0 ± 18.9) and increasing of adhesiveness (11.8 ± 20.6; 9.,98 ± 0.12; 7.1 ± 12.5) of the final product. Presented data point at good indicators of technological quality of spelt pasta with flax seed and that GC-MS analysis can be used in the quality control for flax seed identification. Acknowledgment: The research was financed by the Ministry of Education and Science of the Republic of Serbia (Project No. III 46005).

Keywords: GC-MS analysis, ω-3 fatty acids, flex seed, spelt wheat, daily needs

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Authors: Defne Akinci Midas

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The aim of this study was to determine the minimum, and maximum number of words that would be sufficient to fulfill the writing task in the local English Proficiency Exam (EPE) produced and administered at the Middle East Technical University, Ankara, Turkey. The relationship between the number of words and the scores of the written products that had been awarded by two raters in three online EPEs administered in 2020 was examined. The means, standard deviations, percentages, range, minimum and maximum scores as well as correlations of the scores awarded to written products with the words that amount to 0-50, 51-100, 101-150, 151-200, 201-250, 251-300, and so on were computed. The results showed that the raters did not award a full score to texts that had fewer than 100 words. Moreover, the texts that had around 200 words were awarded the highest scores. The highest number of words that earned the highest scores was about 225, and from then onwards, the scores were either stable or lower. A positive low to moderate correlation was found between the number of words and scores awarded to the texts. We understand that the idea of ‘the longer, the better’ did not apply here. The results also showed that words between 101 to about 225 were sufficient to fulfill the writing task to fully display writing skills and language ability in the specific case of this exam.

Keywords: English proficiency exam, number of words, scoring, writing task

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Authors: Yunhan Zhang, Xiaopeng Li, Zhongxiao Peng

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Additive manufacturing (AM) possesses several key characteristics, including high design freedom, energy-efficient manufacturing process, reduced material waste, high resolution of finished products, and excellent performance of finished products. These advantages have garnered widespread attention and fueled rapid development in recent decades. AM has significantly broadened the spectrum of available materials in the manufacturing industry and is gradually replacing some traditionally manufactured parts. Similar to components produced via traditional methods, products manufactured through AM are susceptible to degradation caused by wear during their service life. Given the prevalence of 316L stainless steel (SS) parts and the limited research on the tribological behavior of 316L SS samples or products fabricated using AM technology, this study aims to investigate the degradation process and wear mechanisms of 316L SS disks fabricated using AM technology. The wear mechanisms and tribological performance of these AM-manufactured samples are compared with commercial 316L SS samples made using conventional methods. Additionally, methods to enhance the tribological performance of additive-manufactured SS samples are explored. Four disk samples with a diameter of 75 mm and a thickness of 10 mm are prepared. Two of them (Group A) are prepared from a purchased SS bar using a milling method. The other two disks (Group B), with the same dimensions, are made of Gas Atomized 316L Stainless Steel (size range: 15-45 µm) purchased from Carpenter Additive and produced using Laser Powder Bed Fusion (LPBF). Pin-on-disk tests are conducted on these disks, which have similar surface roughness and hardness levels. Multiple tests are carried out under various operating conditions, including varying loads and/or speeds, and the friction coefficients are measured during these tests. In addition, the evolution of the surface degradation processes is monitored by creating moulds of the wear tracks and quantitatively analyzing the surface morphologies of the mould images. This analysis involves quantifying the depth and width of the wear tracks and analyzing the wear debris generated during the wear processes. The wear mechanisms and wear performance of these two groups of SS samples are compared. The effects of load and speed on the friction coefficient and wear rate are investigated. The ultimate goal is to gain a better understanding of the surface degradation of additive-manufactured SS samples. This knowledge is crucial for enhancing their anti-wear performance and extending their service life.

Keywords: degradation process, additive manufacturing, stainless steel, surface features

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Authors: Lali Kutateladze, Tamar Urushadze, Tamar Dudauri, Besarion Metreveli, Nino Zakariashvili, Izolda Khokhashvili, Maya Jobava

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Lignocellulosic waste streams from agriculture, paper and wood industry are renewable, plentiful and low-cost raw materials that can be used for large-scale production of liquid and gaseous biofuels. As opposed to prevailing multi-stage biotechnological processes developed for bioconversion of cellulosic substrates to ethanol where high-cost cellulase preparations are used, Consolidated Bioprocessing (CBP) offers to accomplish cellulose and xylan hydrolysis followed by fermentation of both C6 and C5 sugars to ethanol in a single-stage process. Syntrophic microbial consortium comprising of anaerobic, thermophilic, cellulolytic, and saccharolytic bacteria in the genus Clostridia with improved ethanol productivity and high tolerance to fermentation end-products had been proposed for achieving CBP. 65 new strains of anaerobic thermophilic cellulolytic and saccharolytic Clostridia were isolated from different wetlands and hot springs in Georgia. Using new isolates, fermentation of mechanically pretreated wheat straw and corn stalks was done under oxygen-free nitrogen environment in thermophilic conditions (T=550C) and pH 7.1. Process duration was 120 hours. Liquid and gaseous products of fermentation were analyzed on a daily basis using Perkin-Elmer gas chromatographs with flame ionization and thermal detectors. Residual cellulose, xylan, xylose, and glucose were determined using standard methods. Cellulolytic and saccharolytic bacteria strains degraded mechanically pretreated herbaceous cellulosic wastes and fermented glucose and xylose to ethanol, acetic acid and gaseous products like hydrogen and CO2. Specifically, maximum yield of ethanol was reached at 96 h of fermentation and varied between 2.9 – 3.2 g/ 10 g of substrate. The content of acetic acid didn’t exceed 0.35 g/l. Other volatile fatty acids were detected in trace quantities.

Keywords: anaerobic bacteria, cellulosic wastes, Clostridia sp, ethanol

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Authors: Glaucia Maricato

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Our research deals with specific use of DNA tests in Brazil – aimed at financial reparation for the institutionalized and otherwise scattered offspring of leprosy patients who, from the 1920s up through the 1980s, were subjected to compulsory internment in the 'hospital-colonies', specialized in the containment of Hansen’s disease. Through a social movement, the ex-patients themselves gained the right, in 2007, to financial compensations. At the moment, the movement is seeking reparation for the (now adult) children of these people as well. Many of these children grew up in orphanages, in adopted families, or do not have official documents to prove their family belonging. In 2011, a team of Brazilian geneticists had volunteered their services, applying DNA tests in order to ascertain the connection of certain individuals to an ex-internee of the leprosarium. We have accompanied the activities in four different ex-colonies in order to understand how the DNA test was being signified by those being tested, and how the test fit into already existent notions of family. Inspired in the writings of scholars such as Sheila Jasanoff and Helena Machado, we examine the possibility of a 'geneticization of family ties' when people are obliged to back their claim for human rights by producing legal proof based on blood tests. However, in like fashion to other ethnographic studies on this theme, we encountered among tested adults a number of creative strategies that allow for the co-existence of the idea of 'scientifically-based' blood ties alongside other more traditional ways of signifying kinship.

Keywords: human rights, social movements, DNA tests, Hansen's disease

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Authors: Marwa Brahim, Nicolas Brosse, Nadia Boussetta, Nabil Grimi, Eugene Vorobiev

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Rapeseed plant is an established product in France which is mainly dedicated to oil production. However, the economic potential of residues from this industry (rapeseed hulls, rapeseed cake, rapeseed straw etc.), has not been fully exploited. Currently, only low-grade applications are found in the market. As a consequence, it was deemed of interest to develop a technological platform aiming to convert rapeseed residues into value- added products. Specifically, a focus is given on the conversion of rapeseed straw into valuable molecules (e.g. lignin, glucose). Existing pretreatment technologies have many drawbacks mainly the production of sugar degradation products that limit the effectiveness of saccharification and fermentation steps in the overall scheme of the lignocellulosic biorefinery. In addition, the viability of fractionation strategies is a challenge in an environmental context increasingly standardized. Hence, the need to find cleaner alternatives with comparable efficiency by implementing physical phenomena that could destabilize the structural integrity of biomass without necessarily using chemical solvents. To meet environmental standards increasingly stringent, the present work aims to study the new pretreatment strategies involving lower consumption of chemicals with an attenuation of the severity of the treatment. These strategies consist on coupling physical treatments either high voltage electrical discharges or ultrasounds to conventional chemical pretreatments (soda and organosolv). Ultrasounds treatment is based on the cavitation phenomenon, and high voltage electrical discharges cause an electrical breakdown accompanied by many secondary phenomena. The choice of process was based on a technological feasibility study taking into account the economic profitability of the whole chain after products valorization. Priority was given to sugars valorization into bioethanol and lignin sale.

Keywords: high voltage electrical discharges, organosolv, pretreatment strategies, rapeseed straw, soda, ultrasounds

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Authors: Amelia Frickey, Timothy (TJ) Sheridan, Angelica Rossi, Bahar Aliakbarian

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The growth of large food supply chains demanded improved end-to-end traceability of food products, which has led to companies being increasingly interested in using smart technologies such as Radio Frequency Identification (RFID)-enabled packaging to track items. As technology is being widely used, there are several technological or economic issues that should be overcome to facilitate the adoption of this track-and-trace technology. One of the technological challenges of RFID technology is its sensitivity to different environmental form factors, including packaging materials and the content of the packaging. Although researchers have assessed the performance loss due to the proximity of water and aqueous solutions, there is still the need to further investigate the impacts of food products on the reading range of RFID tags. However, to the best of our knowledge, there are not enough studies to determine the correlation between RFID tag performance and food beverages properties. The goal of this project was to investigate the effect of the solution properties (pH and conductivity) and different packaging materials filled with food-like water-based solutions on the performance of an RFID tag. Three commercially available ultra high-frequency RFID tags were placed on three different bottles and filled with different concentrations of water-based solutions, including sodium chloride, citric acid, sucrose, and ethanol. Transparent glass, Polyethylneterephtalate (PET), and Tetrapak® were used as the packaging materials commonly used in the beverage industries. Tag readability (Theoretical Read Range, TRR) and sensitivity (Power on Tag Forward, PoF) were determined using an anechoic chamber. First, the best place to attach the tag for each packaging material was investigated using empty and water-filled bottles. Then, the bottles were filled with the food-like solutions and tested with the three different tags and the PoF and TRR at the fixed frequency of 915MHz. In parallel, the pH and conductivity of solutions were measured. The best-performing tag was then selected to test the bottles filled with wine, orange, and apple juice. Despite various solutions altering the performance of each tag, the change in tag performance had no correlation with the pH or conductivity of the solution. Additionally, packaging material played a significant role in tag performance. Each tag tested performed optimally under different conditions. This study is the first part of comprehensive research to determine the regression model for the prediction of tag performance behavior based on the packaging material and the content. More investigations, including more tags and food products, are needed to be able to develop a robust regression model. The results of this study can be used by RFID tag manufacturers to design suitable tags for specific products with similar properties.

Keywords: smart food packaging, supply chain management, food waste, radio frequency identification

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Authors: Mohamad Javad Shakouri, Hamid Tavakkolipour, Mahdis Jamshidi Tehranian

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The inclination toward using food coatings is increasing daily, due to containing natural elements and not producing environmental pollution. Food coatings are uniform and thin layers of natural substances that cover the food product and act as a barrier against moisture, oxygen, and substances dissolved in food. Using food coatings on fruits and vegetables can delay water dissipation, losing aroma, decolorization, and improve the appearance of the product, and in general, preserve and protect the quality of fresh produce. When fruits and vegetables grow, they are equipped with a natural shield, called cuticle– a layer of wax. Washing the products, after harvest, the cuticle – this protective coating – is removed. In order to replace the cuticle, we can use an edible protective coating. This coating delays dehydration and deterioration and hence increases the life of the product while keeping its moisture. In this study, it was concluded that using food coatings, such as corn zein, carrageenan, and starch can have a substantial effect on the quantitative and qualitative preservation of food products, such as fruits, vegetables, and mushrooms.

Keywords: food coating, corn zein, button and oyster mushrooms, ascorbic and citric acids

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Authors: Pelin Yilmaz, Gizemnur Yildiz Uysal, Elcin Demirhan, Belma Ozbek

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The edible fig plant, Ficus carica Linn, belongs to the Moraceae family, and the leaves are mainly considered agricultural waste after harvesting. It has been demonstrated in the literature that fig leaves contain appealing properties such as high vitamins, fiber, amino acids, organic acids, and phenolic or flavonoid content. The extraction of these valuable products has gained importance. Microwave-assisted extraction (MAE) is a method using microwave energy to heat the solvents, thereby transferring the bioactive compounds from the sample to the solvent. The main advantage of the MAE is the rapid extraction of bioactive compounds. In the present study, the MAE was applied to extract the bioactive compounds from Ficus carica L. leaves, and the effect of microwave power (180-900 W), extraction time (60-180 s), and solvent to sample amount (mL/g) (10-30) on the antioxidant property of the leaves. Then, the volatile organic component profile was determined at the specified extraction point. Additionally, antimicrobial studies were carried out to determine the minimum inhibitory concentration of the microwave-extracted leaves. As a result, according to the data obtained from the experimental studies, the highest antimicrobial properties were obtained under the process parameters such as 540 W, 180 s, and 20 mL/g concentration. The volatile organic compound profile showed that isobergapten, which belongs to the furanocoumarins family exhibiting anticancer, antioxidant, and antimicrobial activity besides promoting bone health, was the main compound. Acknowledgments: This work has been supported by Yildiz Technical University Scientific Research Projects Coordination Unit under project number FBA-2021-4409. The authors would like to acknowledge the financial support from Tubitak 1515 - Frontier R&D Laboratory Support Programme.

Keywords: Ficus carica Linn leaves, volatile organic component, GC-MS, microwave extraction, isobergapten, antimicrobial

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Authors: Megha Agarwal

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The research paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as price/earnings ratio, price/book value ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow Method (FCFM) all provide different estimates of valuation of the Indian giant corporate Reliance India Limited (RIL). An ex-post analysis of published accounting and financial data for four financial years from 2008-09 to 2011-12 has been conducted. A comparison of these valuation estimates with the actual market capitalization of the company shows that the complex accounting based model AOIGM provides closest forecasts. These different estimates may be derived due to inconsistencies in discount rate, growth rates and the other forecasted variables. Although inputs for earnings based models may be available to the investor and analysts through published statements, precise estimation of free cash flows may be better undertaken by the internal management. The estimation of value from more stable parameters as residual operating income and RNOA could be considered superior to the valuations from more volatile return on equity.

Keywords: earnings, cash flows, valuation, Residual Earnings Model (REM)

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Authors: J. Janicki, M. Rom, C. Slusarczyk, J. Fabia, M. Siika-aho, K. Marjamaa, K. Kruus, K. Langfelder, C. Steel, M. Paloheimo, T. Puranen, S. Mäkinen, D. Wawro

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The cellulose is one of the most abundant polymers in the world, however, its application in the high-end value products such as films or fibres, it triggered by the cellulose properties. The noticeable presence of hydrogen bonding reflected with partially crystalline structure makes the cellulose insoluble in common solvents and not meltable. The existing technologies, such as viscose process, suffer from environmental and economical problems, because of the risk of harmful chemicals liberation during the spinning process. The enzymatic modification of cellulose with endoglucanase makes it directly alkali soluble in NaOH solution, giving the opportunities for film and fibers formation. As the effect of enzymatic treatment, there are observed changes in crystalline structure and accompanying changes of the affinity of cellulose to water, demonstrated by water retention value. The objective of the project ELMO - Novel carbohydrate modifying enzymes for fibre modification is is to develop new enzyme products for modification of dissolving grade pulps. The aim is to increase the reactivity of dissolving grade pulps and remove residual hemicellulose. The scientific aim of this paper is to present the effect of enzymatic treatment on the crystallinity and affinity to water of cellulose pulps modified with enzymes.

Keywords: cellulose, crystallinity, WAXS, enzyme

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Authors: Mahathir Sarjan, Ramos Radzly, Noor Baiti Jamaluddin, Mohd Hafiz Zakaria, Hisham Suhadi

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Creativity is marked by the ability or power, to produce through imaginative skill and create something anew. The University is one of the great places to improve the talent in imaginative skill. Thus, it is important that for the student have a creativity to adapt the multimedia element in the development of presentation products for learning and teaching the process. The purpose of this study was to identify a creativity of the student in presentation product development. Two hundred seventeen Technical and Vocational Education (TVE) students in Universiti Tun Hussein Onn had chosen as a respondent. This study is to survey the level of creativity which is focused on knowledge, skills, presentation style and character of creative personnel. The level of creativity was measured based on the scale at low, medium and high followed by mean score level. The data collected by questionnaire then analyzed using SPSS version 20.0. The result of the study indicated that the students showed a higher of creativity (mean score in Knowledge = 4.12 and Skills= 4.02). In conjunction with the findings s implications and recommendations were suggested forward like to ensconce the research and improve with a more creativity concept in presentation product of development for learning and teaching the process.

Keywords: creativity, technical, vocational education, presentation products and development for learning and teaching process

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Authors: José M. Brotons, Manuel E. Sansalvador

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The relationship between Corporate Social Responsibility (CSR) and financial performance (FP) is a subject of great interest that has not yet been resolved. In this work, we have developed a new and original tool to measure this relation. The tool quantifies the value contributed to companies that are committed to CSR. The theoretical model used is the fuzzy discounted cash flow method. Two assumptions have been considered, the first, the company has implemented the IQNet SR10 certification, and the second, the company has not implemented that certification. For the first one, the growth rate used for the time horizon is the rate maintained by the company after obtaining the IQNet SR10 certificate. For the second one, both, the growth rates company prior to the implementation of the certification, and the evolution of the sector will be taken into account. By using triangular fuzzy numbers, it is possible to deal adequately with each company’s forecasts as well as the information corresponding to the sector. Once the annual growth rate of the sales is obtained, the profit and loss accounts are generated from the annual estimate sales. For the remaining elements of this account, their regression with the nets sales has been considered. The difference between these two valuations, made in a fuzzy environment, allows obtaining the value of the IQNet SR10 certification. Although this study presents an innovative methodology to quantify the relation between CSR and FP, the authors are aware that only one company has been analyzed. This is precisely the main limitation of this study which in turn opens up an interesting line for future research: to broaden the sample of companies.

Keywords: corporate social responsibility, case study, financial performance, company valuation

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Authors: Gabriela Tutuanu

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The economic, social and environmental undesirable impact of the existing development pattern pushes to the adoption and use of a new development paradigm that of sustainable development. This paper intends to substantiate how the marketing can help the sustainable development. It begins with the subjects of sustainable development and sustainable marketing as they are discussed in literature. The sustainable development is a three dimensional concept which embeds the economic dimension, the social dimension and the environmental dimension that ask to have in view the simultaneous pursuit of economic prosperity, social equity and environmental quality. A major challenge to achieve these goals at business level and to integrate all three dimensions of sustainability is the sustainable marketing. The sustainable marketing is a relationship marketing that aims at building lasting relationships with the social and natural environment on a long-term thinking and futurity and this philosophy allows helping all three dimensions of sustainability. As marketing solutions that could contribute to the sustainable development. We advance the stimulation of sustainable demand, the constant innovation and improvement of sustainable products, the design and use of customized communication, a multichannel distribution network and the sale of sustainable products and services at fair prices. Their implementation will increase the economic, social and environmental sustainability at a large extent in the future if they are supported by political, governmental and legal authorities.

Keywords: sustainable development, sustainable marketing, sustainable demand, sustainable product, credible communication, multi-channel distribution network, fair price

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Authors: Albert P. Ekanem, Austin I. Obiekezie, Elizabeth X. Ntia

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Introduction: Some African plants and bile from animals have shown efficacies in the treatment and control of diseases in farmed fish. The background of the study is based on the fact the African rain forest is blessed with the abundance of medicinal plants that should be investigated for their use in the treatment of diseases. The significance of the study is informed by the fact that chemical-based substances accumulate in the tissues of food fish, thereby reducing the food values of such products and moreover, the continuous use of chemotherapeutics in the aquatic environments tends to degrade the affected environment. Methodology: Plants and animal products were extracted, purified and applied under in vitro and in vivo conditions to the affected organisms. Effective plants and bills were analyzed for biologically active substances responsible for the activities by both qualitative and HPLC methods. Results: Extracts of Carica papaya and Mucuna pruriens were effective in the treatment of Ichthyophthiriasis in goldfish (Carassius auratus auratus) with high host tolerance. Similarly, ectoparasitic monogeneans were effectively dislodged from the gills and skin of goldfish by the application of extracts of Piper guineense at therapeutic concentrations. Artemesia annua with known antimalarial activities in human was also effective against fish monogenean parasites of Clarias gariepinus in a concentration-related manner without detriments to the host. Effective antibacterial activities against Aeromonas and Pseudomonas diseases of the African catfish (Heterobranchus longifilis) were demonstrated in some plants such as Phylanthus amarus, Allium sativum, A. annua, and Citrus lemon. Bile from some animals (fish, goat, chicken, cow, and pig) showed great antibacterial activities against some gastrointestinal bacterial pathogens of fish. Conclusions: African plants and some animal bile have shown potential promise in the treatment of diseases in fish and other aquatic animals. The use of chemical-based substances for control of diseases in the aquatic environments should be restricted.

Keywords: control, diseases, fish, treatment

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Authors: Y. Long, L. Liu, K. V. Branin

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One challenge faced by procurement decision-maker during the acquisition process is how to compare similar products from different suppliers and allocate orders among different products or services. This work focuses on allocating orders among multiple suppliers considering rebate. The objective function is to minimize the total acquisition cost including purchasing cost and rebate benefit. Rebate benefit is complex and difficult to estimate at the ordering step. Rebate rules vary for different suppliers and usually change over time. In this work, we developed a system to collect the rebate policies, standardized the rebate policies and developed two-stage optimization models for ordering allocation. Rebate policy with multi-tiers is considered in modeling. The discontinuous cost function of rebate benefit is formulated for different scenarios. A piecewise linear function is used to approximate the discontinuous cost function of rebate benefit. And a Mixed Integer Programing (MIP) model is built for order allocation problem with multi-tier rebate. A case study is presented and it shows that our optimization model can reduce the total acquisition cost by considering rebate rules.

Keywords: discontinuous cost function, mixed integer programming, optimization, procurement, rebate

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Authors: Yiğit Gürler, Berkay Türkcan İmrağ, Taylan Güçkıran, İbrahim Şimşek, Alper Taşdemirci

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Paper honeycombs, which is a sandwich structure, consists of two liner faces and one paper honeycomb core. These materials are widely used in the packaging industry due to their low cost, low weight, good energy absorption capabilities and easy recycling properties. However, to provide maximum protection to the products in cases such as the drop of the packaged products, the mechanical behavior of these materials should be well known at the packaging design stage. In this study, the necessary input parameters for the modeling study were obtained by performing compression tests in the through-thickness and in-plane directions of paper-based honeycomb sandwich structures. With the obtained parameters, homogeneous and micro-mechanical numerical models were developed in the Ls-Dyna environment. The material card used for the homogeneous model is MAT_MODIFIED_HONEYCOMB, and the material card used for the micromechanical model is MAT_PIECEWISE_LINEAR_PLASTICITY. As a result, the effectiveness of homogeneous and micromechanical modeling approaches for paper-based honeycomb sandwich structure was investigated using force-displacement curves. Densification points and peak points on these curves will be compared.

Keywords: environmental packaging, mechanical characterization, Ls-Dyna, sandwich structure

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Authors: Meksem Nabila, Bordjiba Ouahiba, Meraghni Messaouda, Meksem Amara Leila, Djebar Mohhamed Reda

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The problems of protection of the cultures are being more and more important that they interest great number of farmers and scientists because of the excessive use of the organic phytosanitary products of synthesis that causes fatal damages on the environment. To reduce the inconveniences produced by these pesticides, the use of "biopesticides" originated from plants could be an alternative. The aim of this work is the valuation of a botanical species: Eucalyptus camaldulensis from Northeastern Algeria which extracts are supposed to have an antimicrobial activity, similar to pesticides. The extraction of secondary metabolites from the leaves of E. camaldulensis was realized using methanol and water, and measurements of total polyphenols were made by spectrometric method. Determination of the antimicrobial activity of the extracts at issue was realized in vitro on phyto-pathogenic fungal and bacterial stumps. Tests of comparison were included in the essays by using the chemical pesticidal products of synthesis. The obtained results show that the plant contains polyphenols with an efficiency mattering of the order of 22 %. These polyphenols have a strong fungicidal and bactericidal pesticidal activity against various microbial stumps and the values of the zones of inhibition are more important compared with that obtained in the presence of the chemicals of synthesis (fungicide).

Keywords: eucalyptus camaldulensis, biopesticide, polyphenols, antimicrobial activity

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Authors: Saurabh B. Ganorkar, Atul A. Shirkhedkar

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The need for investigations protecting against toxic impurities though seems to be a primary requirement; the impurities which may prove non - toxic can be explored for their therapeutic potential if any to assist advanced drug discovery. The essential role of pharmaceutical analysis can thus be extended effectively to achieve it. The present study successfully achieved these objectives with characterization of major degradation products as impurities for Zileuton which has been used for to treat asthma since years. The forced degradation studies were performed to identify the potential degradation products using Ultra-fine Liquid-chromatography. Liquid-chromatography-Mass spectrometry (Time of Flight) and Proton Nuclear Magnetic Resonance Studies were utilized effectively to characterize the drug along with five major oxidative and hydrolytic degradation products (DP’s). The mass fragments were identified for Zileuton and path for the degradation was investigated. The characterized DP’s were subjected to In-Silico studies as XP Molecular Docking to compare the gain or loss in binding affinity with 5-Lipooxygenase enzyme. One of the impurity of was found to have the binding affinity more than the drug itself indicating for its potential to be more bioactive as better Antiasthmatic. The close structural resemblance has the ability to potentiate or reduce bioactivity and or toxicity. The chances of being active biologically at other sites cannot be denied and the same is achieved to some extent by predictions for probability of being active with Prediction of Activity Spectrum for Substances (PASS) The impurities found to be bio-active as Antineoplastic, Antiallergic, and inhibitors of Complement Factor D. The toxicological abilities as Ames-Mutagenicity, Carcinogenicity, Developmental Toxicity and Skin Irritancy were evaluated using Toxicity Prediction by Komputer Assisted Technology (TOPKAT). Two of the impurities were found to be non-toxic as compared to original drug Zileuton. As the drugs are purposed and repurposed effectively the impurities can also be; as they can have more binding affinity; less toxicity and better ability to be bio-active at other biological targets.

Keywords: UFLC, LC-MS-TOF, NMR, Zileuton, impurities, toxicity, bio-activity

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Authors: Amir Amiri, Naghmeh Morakabati

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During the recent years the six-fold growth of cancer in Iran has led the production of healthy products to become a challenge in the food industry. Due to the young population in the country, the consumption of fast foods is growing. The chemical cancer-causing preservatives are used to produce these products more than the standard; so using an appropriate alternative seems to be important. On the one hand, the plant essential oils show the high antimicrobial potential against pathogenic and spoilage microorganisms and on the other hand they are highly volatile and decomposed under the processing conditions. The study aims to produce the loaded chitosan nanoparticles with different concentrations of savory essential oil to improve the anti-microbial property and increase the resistance of essential oil to oxygen and heat. The encapsulation efficiency was obtained in the range of 32.07% to 39.93% and the particle size distribution of the samples was observed in the range of 159 to 210 nm. The range of Zeta potential was obtained between -11.9 to -23.1 mV. The essential oil loaded in chitosan showed stronger antifungal activity against Rhizopus stolonifer. The results showed that the antioxidant property is directly related to the concentration of loaded essential oil so that the antioxidant property increases by increasing the concentration of essential oil. In general, it seems that the savory essential oil loaded in chitosan particles can be used as a food processor.

Keywords: chitosan, encapsulation, essential oil, nanogel

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Authors: Mulatu Kassie Birhanu

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Electrochemical reduction of CO₂ is an emerging and current issue for its conversion in to valuable product upon minimization of its atmospheric level for contribution of maintaining within the range of permissible limit. Among plenty of electro-catalysts gold and copper are efficient and effective catalysts, which are synthesized and applicable for this research work. The two metal catalysts were prepared in inert environment with different compositions through co-reduction process from their corresponding precursors and then by adding multi-walled carbon nano-tube as a supporter and enhanced the conductivity. The catalytic performance of CO₂ reduction for each composition was performed and resulted an outstanding catalytic activity with generation of high current density (70 mA/cm² at 0.91V vs. RHE) and relatively small onset potential. The catalytic performance, compositions, morphologies, structure and geometric arrangements were evaluated by electrochemical analysis (LSV, impedance, chronoamperometry & tafel plot), EDS, SEM and XAS respectively. The composite metals showed better selectivity of products and faradaic efficiencies due to the synergetic effects of the combined nano-particles in addition to the impact of grain size in reduction of CO₂. Carbon monoxide, hydrogen, formate and ethanol are the reduction products, which are detected and quantifiable by chromatographic techniques considering their physical state of each product.

Keywords: carbondioxide, faradaic efficiency, electrocatalyst, current density

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Authors: Nithyananda K. V.

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Organizations follow various strategies for managing their intellectual property rights, either in the form of securing IP rights or using such IP rights through leveraging, monetizing, and commercializing them. It is well known that organizations adopt different intellectual property strategies in response to other organizations within the industry. But within an organization, and within the products that are being manufactured and sold by it, the strategies for managing its intellectual property rights keep changing at different stages of the product life cycle. Organizations could adopt not only different strategies for managing its intellectual property rights, but could also adopt different kinds of business models to leverage, monetize, and commercial the IP rights. This paper analyzes the various strategies that can be adopted by organizations to manage its IP rights at different stages of the product life cycle and the rationale for adopting such strategies. This would be a secondary research, based solely on the literature of strategic management, new product development, resource-based management, and the intellectual property management. This paper synthesizes the literature from these streams to propose a conceptual framework of strategies that can be adopted by organizations for managing its IP rights in conjunction with the life cycle of the products that it manufactures and sells in the market. This framework could be adopted by organizations in implementing strategies for effectively managing their IP rights.

Keywords: intellectual property strategy, management of intellectual property rights, New product development, product life cycle

Procedia PDF Downloads 281