Search results for: nuclear factor-erythroid 2-related factor 2
4437 Disperse Innovation in the Turning German Energy Market
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
Procedia PDF Downloads 3514436 Development of Wear Resistant Ceramic Coating on Steel Using High Velocity Oxygen Flame Thermal Spray
Authors: Abhijit Pattnayak, Abhijith N.V, Deepak Kumar, Jayant Jain, Vijay Chaudhry
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Hard and dense ceramic coatings deposited on the surface provide the ideal solution to the poor tribological properties exhibited by some popular stainless steels like EN-36, 17-4PH, etc. These steels are widely used in nuclear, fertilizer, food processing, and marine industries under extreme environmental conditions. The present study focuses on the development of Al₂O₃-CeO₂-rGO-based coatings on the surface of 17-4PH steel using High-Velocity Oxygen Flame (HVOF) thermal spray process. The coating is developed using an oxyacetylene flame. Further, we report the physical (Density, Surface roughness, Surface energetics), Metallurgical (Scanning electron microscopy, X-ray diffraction, Raman), Mechanical (Hardness(Vickers and Nano Hard-ness)), Tribological (Wear, Scratch hardness) and Chemical (corrosion) characterization of both As-sprayed coating and the Substrate (17-4 PH steel). The comparison of the properties will help us to understand the microstructure-property relationship of the coating and reveal the necessity and challenges of such coatings.Keywords: thermal spray process, HVOF, ceramic coating, hardness, wear, corrosion
Procedia PDF Downloads 984435 Development of a Novel Antibacterial to Block Growth of Pseudomonas Aeruginosa and Prevent Biofilm Formation
Authors: Clara Franch de la Cal, Christopher J Morris, Michael McArthur
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Cystic fibrosis (CF) is an autosomal recessive genetic disorder characterized by abnormal transport of chloride and sodium across the lung epithelium, leading to thick and viscous secretions. Within which CF patients suffer from repeated bacterial pulmonary infections, with Pseudomonas aeru-ginosa (PA) eliciting the greatest inflammatory response, causing an irreversible loss of lung func-tion that determines morbidity and mortality. The cell wall of PA is a permeability barrier to many antibacterials and the rise of Mutli-Drug Resistant strains (MDR) is eroding the efficacy of the few remaining clinical options. In addition when PA infection becomes established it forms an antibi-otic-resistant biofilm, embedded in which are slow growing cells that are refractive to drug treat-ment. Making the development of new antibacterials a major challenge. This work describes the development of new type of nanoparticulate oligonucleotide antibacterial capable of tackling PA infections, including MDR strains. It is being developed to both block growth and prevent biofilm formation. These oligonucleotide therapeutics, Transcription Factor Decoys (TFD), act on novel genomic targets by capturing key regulatory proteins to block essential bacterial genes and defeat infection. They have been successfully transfected into a wide range of pathogenic bacteria, both in vitro and in vivo, using a proprietary delivery technology. The surfactant used self-assembles with TFD to form a nanoparticle stable in biological fluids, which protects the TFD from degradation and preferentially transfects prokaryotic membranes. Key challenges are to adapt the nanoparticle so it is active against PA in the context of biofilms and to formulate it for administration by inhalation. This would allow the drug to be delivered to the respiratory tract, thereby achieving drug concentrations sufficient to eradicate the pathogenic organisms at the site of infection.Keywords: antibacterials, transcriptional factor decoys (TFDs), pseudomonas aeruginosa
Procedia PDF Downloads 2864434 Assessment of Tidal Influence in Spatial and Temporal Variations of Water Quality in Masan Bay, Korea
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Slack-tide sampling was carried out at seven stations at high and low tides for a tidal cycle, in summer (7, 8, 9) and fall (10), 2016 to determine the differences of water quality according to tides in Masan Bay. The data were analyzed by Pearson correlation and factor analysis. The mixing state of all the water quality components investigated is well explained by the correlation with salinity (SAL). Turbidity (TURB), dissolved silica (DSi), nitrite and nitrate nitrogen (NNN) and total nitrogen (TN), which find their way into the bay from the streams and have no internal source and sink reaction, showed a strong negative correlation with SAL at low tide, indicating the property of conservative mixing. On the contrary, in summer and fall, dissolved oxygen (DO), hydrogen sulfide (H2S) and chemical oxygen demand with KMnO4 (CODMn) of the surface and bottom water, which were sensitive to an internal source and sink reaction, showed no significant correlation with SAL at high and low tides. The remaining water quality parameters showed a conservative or a non-conservative mixing pattern depending on the mixing characteristics at high and low tides, determined by the functional relationship between the changes of the flushing time and the changes of the characteristics of water quality components of the end-members in the bay. Factor analysis performed on the concentration difference data sets between high and low tides helped in identifying the principal latent variables for them. The concentration differences varied spatially and temporally. Principal factors (PFs) scores plots for each monitoring situation showed high associations of the variations to the monitoring sites. At sampling station 1 (ST1), temperature (TEMP), SAL, DSi, TURB, NNN and TN of the surface water in summer, TEMP, SAL, DSi, DO, TURB, NNN, TN, reactive soluble phosphorus (RSP) and total phosphorus (TP) of the bottom water in summer, TEMP, pH, SAL, DSi, DO, TURB, CODMn, particulate organic carbon (POC), ammonia nitrogen (AMN), NNN, TN and fecal coliform (FC) of the surface water in fall, TEMP, pH, SAL, DSi, H2S, TURB, CODMn, AMN, NNN and TN of the bottom water in fall commonly showed up as the most significant parameters and the large concentration differences between high and low tides. At other stations, the significant parameters showed differently according to the spatial and temporal variations of mixing pattern in the bay. In fact, there is no estuary that always maintains steady-state flow conditions. The mixing regime of an estuary might be changed at any time from linear to non-linear, due to the change of flushing time according to the combination of hydrogeometric properties, inflow of freshwater and tidal action, And furthermore the change of end-member conditions due to the internal sinks and sources makes the occurrence of concentration difference inevitable. Therefore, when investigating the water quality of the estuary, it is necessary to take a sampling method considering the tide to obtain average water quality data.Keywords: conservative mixing, end-member, factor analysis, flushing time, high and low tide, latent variables, non-conservative mixing, slack-tide sampling, spatial and temporal variations, surface and bottom water
Procedia PDF Downloads 1314433 Role of Cognitive Flexibility and Employee Engagement in Determining Turnover Intentions of Employees
Authors: Prashant Das, Tushar Singh, Virendra Byadwal
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The present study attempted to understand the role of cognitive flexibility and employee engagement in predicting employees’ turnover intentions. Employee turnover is a significant problem that many organizations are facing these days. Employee turnover is not only extremely expensive for the employer but also results in poor production levels. In developing countries like India, organizations once believed to have most stable employees, are facing major turnover problems. One such organization is banking organizations. Due to globalization, banks are now changing their work scenarios under which the employees have many different roles to perform. Cognitive flexibility which refers to an individual’s ability to shift cognitive sets and to adapt to one’s changing environment, thus seems to be an important factor that are responsible for the employee turnover in organizations. It is hypothesized that those with higher cognitive flexibility would be more able to adapt to the changing work demands of the organizations and thus would show less turnover intentions. Another factor that seems to be important in predicting turnover is employee engagement. Kahn referred to engagement in terms of the harnessing of organization members’ selves to their work roles [by which they] employ and express themselves physically, cognitively, and emotionally during role performances. Studies have shown a strong relationship between employee engagement and turnover intentions. Those with higher engagement with their jobs have found to show low turnover intentions. This study thus hypothesizes that employees with higher engagement will show lower levels of turnover intentions. A total of 150 bank employees (75 from private and 75 from public) participated in this study. They were administered Cognitive Flexibility Scale, Gallup Questionnaire and Intention to Stay Questionnaire along with another questionnaire asking for their demographic details. Results of the study revealed that employees with higher levels of cognitive flexibility and employee engagement show lover levels of turnover intentions. However, the effect is more prominent in case of employees of private banks. Demographic characteristics such as level of the employee and years of engagement in the current job have also been found to be influencing the relationship between cognitive flexibility, employee engagement and turnover intentions. Results of the study are interpreted in accordance to the prevalent literature and theoretical positions.Keywords: cognitive flexibility, employee engagement, organization, turnover intentions
Procedia PDF Downloads 4254432 Adopting Flocks of Birds Approach to Predator for Anomalies Detection on Industrial Control Systems
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Industrial Control Systems (ICS) such as Supervisory Control And Data Acquisition (SCADA) can be seen in many different critical infrastructures, from nuclear management to utility, medical equipment, power, waste and engine management on ships and planes. The role SCADA plays in critical infrastructure has resulted in a call to secure them. Many lives depend on it for daily activities and the attack vectors are becoming more sophisticated. Hence, the security of ICS is vital as malfunction of it might result in huge risk. This paper describes how the application of Prey Predator (PP) approach in flocks of birds could enhance the detection of malicious activities on ICS. The PP approach explains how these animals in groups or flocks detect predators by following some simple rules. They are not necessarily very intelligent animals but their approach in solving complex issues such as detection through corporation, coordination and communication worth emulating. This paper will emulate flocking behavior seen in birds in detecting predators. The PP approach will adopt six nearest bird approach in detecting any predator. Their local and global bests are based on the individual detection as well as group detection. The PP algorithm was designed following MapReduce methodology that follows a Split Detection Convergence (SDC) approach.Keywords: artificial life, industrial control system (ICS), IDS, prey predator (PP), SCADA, SDC
Procedia PDF Downloads 3074431 The Successful in Construction Project via Effectiveness of Project Team
Authors: Zarabizan Zakaria, Hayati Zainal
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The construction industry is one of the most important sectors that contribute to the nation’s economy and catalyze towards the growth of other industries. However, some construction projects have not been completed on its stipulated time and duration, scope and budget due to several factors. This problem arises due to the weaknesses of human factors, especially from ineffective leadership quality practiced by project managers and contractors in managing project teams. Therefore, a construction project should impose the element of Project Team. The project team is formed in the implementation of the project which includes the project brief, project scope, customer requirements and provided designs. Many organizations in the construction sector use teams to meet today's global competition and customer expectations, however, team effectiveness evaluation is required. In insuring the construction team is successful and effectiveness, the construction department must encourage, measure, set up, and evaluate or review the effectiveness of project team that was formed. In order to produce a better outcome for a high-end project, an effective and efficient project team is required which also help in increasing overall productivity. The purpose of this study is to determine the role of team effectiveness in the construction project team based on the overall construction project performance. It examines several different factors which related to team effectiveness. It also examines the relationship between team effectiveness factor and project performance aspect. Team Effect Review and Project Performance Review are developed to be used for data collection. Data collected were analyzed using several statistical tests. Results obtained from data analysis are validated using semi-structured interviews. Besides that, a comprehensive survey were developed to assess the way construction project teams in order to maintain its effectiveness throughout the project phase. In order to determine a project successful it has been found that Project Team Leadership is the most important factor. In addition, the definition of team effectiveness in the construction project team is developed based on the perspective of project clients and project team members. The results of this study are expected to provide an idea on the factors that are needed to be focused on improving the team's effectiveness towards project performance aspects. At the same time, the definition of team effectiveness from team members and owner views has been developed in order to provide a better understanding of the word team's effectiveness in construction projects.Keywords: project team, leadership, construction project, project successful
Procedia PDF Downloads 1804430 Optimum Dimensions of Hydraulic Structures Foundation and Protections Using Coupled Genetic Algorithm with Artificial Neural Network Model
Authors: Dheyaa W. Abbood, Rafa H. AL-Suhaili, May S. Saleh
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A model using the artificial neural networks and genetic algorithm technique is developed for obtaining optimum dimensions of the foundation length and protections of small hydraulic structures. The procedure involves optimizing an objective function comprising a weighted summation of the state variables. The decision variables considered in the optimization are the upstream and downstream cutoffs length sand their angles of inclination, the foundation length, and the length of the downstream soil protection. These were obtained for a given maximum difference in head, depth of impervious layer and degree of anisotropy.The optimization carried out subjected to constraints that ensure a safe structure against the uplift pressure force and sufficient protection length at the downstream side of the structure to overcome an excessive exit gradient. The Geo-studios oft ware, was used to analyze 1200 different cases. For each case the length of protection and volume of structure required to satisfy the safety factors mentioned previously were estimated. An ANN model was developed and verified using these cases input-output sets as its data base. A MatLAB code was written to perform a genetic algorithm optimization modeling coupled with this ANN model using a formulated optimization model. A sensitivity analysis was done for selecting the cross-over probability, the mutation probability and level ,the number of population, the position of the crossover and the weights distribution for all the terms of the objective function. Results indicate that the most factor that affects the optimum solution is the number of population required. The minimum value that gives stable global optimum solution of this parameters is (30000) while other variables have little effect on the optimum solution.Keywords: inclined cutoff, optimization, genetic algorithm, artificial neural networks, geo-studio, uplift pressure, exit gradient, factor of safety
Procedia PDF Downloads 3254429 Poverty and Illiteracy as a Key Factor for Crime and Unrest in Nigeria
Authors: Lawrence Emah
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Nigeria, Africa’s most populous nation is undoubtedly, currently going through one of the most difficult phases in her 55 years of existence as an independent nation. At no other time in her history is she under so much pressure of social unrest and unacceptable rate of crime and criminality than it is today. From the North where there is an insurgency to contend with, then to the South where kidnapping and armed robbery hold sway. These issues did not just sprout from nowhere; they have a root somewhere. This is why this paper seeks to bring to the fore poverty and illiteracy as leading causes of these twin social ills– crime and social restiveness as well as suggest practical solutions to the problems.Keywords: crime, illiteracy, poverty, unrest
Procedia PDF Downloads 2394428 Theoretical Investigation of Proton-Bore Fusion in Hot Spots
Authors: Morteza Habibi
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As an alternative to D–T fuel, one can consider advanced fuels like D3-He and p-11B fuels, which have potential advantages concerning availability and/or environmental impact. Hot spots are micron-sized magnetically self-contained sources observed in pinched plasma devices. In hot spots, fusion power for 120 keV < Ti < 800 keV and 32 keV < Te < 129 keV exceeds bremsstrahlung loss and fraction of fusion power to bremsstrahlung loss reaches to 1.9. In this case, gain factor for a 150 kJ typical pulsed generator as a hot spot source will be 7.8 which is considerable for a commercial pinched plasma device.Keywords: P-B fuel, hot spot, bremmsstrahlung loss, ion temperature
Procedia PDF Downloads 5314427 Wall Shear Stress Under an Impinging Planar Jet Using the Razor Blade Technique
Authors: A. Ritcey, J. R. Mcdermid, S. Ziada
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Wall shear stress was experimentally measured under a planar impinging air jet as a function of jet Reynolds number (Rejet = 5000, 8000, 11000) and different normalized impingement distances (H/D = 4, 6, 8, 10, 12) using the razor blade technique to complete a parametric study. The wall pressure, wall pressure gradient, and wall shear stress information were obtained.Keywords: experimental fluid mechanics, impinging planar jets, skin friction factor, wall shear stress
Procedia PDF Downloads 3244426 Quantitative and Qualitative Analysis: Predicting and Improving Students’ Summative Assessment Math Scores at the National College for Nuclear
Authors: Abdelmenen Abobghala, Mahmud Ahmed, Mohamed Alwaheshi, Anwar Fanan, Meftah Mehdawi, Ahmed Abuhatira
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This research aims to predict academic performance and identify weak points in students to aid teachers in understanding their learning needs. Both quantitative and qualitative methods are used to identify difficult test items and the factors causing difficulties. The study uses interventions like focus group discussions, interviews, and action plans developed by the students themselves. The research questions explore the predictability of final grades based on mock exams and assignments, the student's response to action plans, and the impact on learning performance. Ethical considerations are followed, respecting student privacy and maintaining anonymity. The research aims to enhance student engagement, motivation, and responsibility for learning.Keywords: prediction, academic performance, weak points, understanding, learning, quantitative methods, qualitative methods, formative assessments, feedback, emotional responses, intervention, focus group discussion, interview, action plan, student engagement, motivation, responsibility, ethical considerations
Procedia PDF Downloads 694425 Measurement and Simulation of Axial Neutron Flux Distribution in Dry Tube of KAMINI Reactor
Authors: Manish Chand, Subhrojit Bagchi, R. Kumar
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A new dry tube (DT) has been installed in the tank of KAMINI research reactor, Kalpakkam India. This tube will be used for neutron activation analysis of small to large samples and testing of neutron detectors. DT tube is 375 cm height and 7.5 cm in diameter, located 35 cm away from the core centre. The experimental thermal flux at various axial positions inside the tube has been measured by irradiating the flux monitor (¹⁹⁷Au) at 20kW reactor power. The measured activity of ¹⁹⁸Au and the thermal cross section of ¹⁹⁷Au (n,γ) ¹⁹⁸Au reaction were used for experimental thermal flux measurement. The flux inside the tube varies from 10⁹ to 10¹⁰ and maximum flux was (1.02 ± 0.023) x10¹⁰ n cm⁻²s⁻¹ at 36 cm from the bottom of the tube. The Au and Zr foils without and with cadmium cover of 1-mm thickness were irradiated at the maximum flux position in the DT to find out the irradiation specific input parameters like sub-cadmium to epithermal neutron flux ratio (f) and the epithermal neutron flux shape factor (α). The f value was 143 ± 5, indicates about 99.3% thermal neutron component and α value was -0.2886 ± 0.0125, indicates hard epithermal neutron spectrum due to insufficient moderation. The measured flux profile has been validated using theoretical model of KAMINI reactor through Monte Carlo N-Particle Code (MCNP). In MCNP, the complex geometry of the entire reactor is modelled in 3D, ensuring minimum approximations for all the components. Continuous energy cross-section data from ENDF-B/VII.1 as well as S (α, β) thermal neutron scattering functions are considered. The neutron flux has been estimated at the corresponding axial locations of the DT using mesh tally. The thermal flux obtained from the experiment shows good agreement with the theoretically predicted values by MCNP, it was within ± 10%. It can be concluded that this MCNP model can be utilized for calculating other important parameters like neutron spectra, dose rate, etc. and multi elemental analysis can be carried out by irradiating the sample at maximum flux position using measured f and α parameters by k₀-NAA standardization.Keywords: neutron flux, neutron activation analysis, neutron flux shape factor, MCNP, Monte Carlo N-Particle Code
Procedia PDF Downloads 1664424 Identifying Patterns of Seeking and Providing Help Online among Adolescents in Israel
Authors: Gali Pesin, Yuliya Lipshits-Braziler, Sima Amram-Vaknin, Moshe Tatar
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The present study introduces four different patterns of seeking and providing help online among adolescents: (I) ‘Transceivers’ - adolescents who both seek as well as provide help online; (II) ‘Receivers’ - adolescents who seek help online, yet don’t provide it; (III) ‘Transmitters’ - adolescents who provide help online, yet don’t seek it; and (IV) ‘Idles’ - adolescents who refrain from seeking and providing help online. The study examined differences in seeking and providing help online between possible combinations of the four patterns, as well as gender differences within each pattern. Data was collected from 528 adolescents in Israel (59% were girls). Findings revealed that Transceivers are the largest group (45%) in this study, with higher representation of girls (65%). These adolescents seek help mainly around social difficulties, and they turn to peers who are both known and unknown to them. In addition, their preferred way to seek and provide help is through social network sites. Moreover, they often accept and give others emotional support. Receivers are the smallest group (5%) in this study. They turn to both known and unknown professionals more often than to friends and family. In addition, they seek help mostly around health and nutrition issues, and they usually receive instrumental support. For Receivers, the most important factor for seeking help online is anonymity, and the least important factor is familiarity with the help giver. Transmitters represent 16% of the adolescents in this study, with a greater representation of boys (52%). Their main reason to refrain from seeking help online is self-reliance. Nevertheless, these adolescents provide help to others online, mainly to those known to them through posting or responding to posts on social network sites. Idles represent 34% of the adolescents in this study. They refrain from seeking help online mainly due to their preference to seek help face to face, and due to their lack of trust in the internet or those using it. Idles and Transmitters are willing to seek help online mostly from friends and family. In addition, they are willing seek help online mainly regarding questions concerning military or civil service. They consider the most important facilitators for seeking help online as confidentiality and reliability. The present study’s main contribution is exploring the role of providing online help in understanding the adolescent behavior of seeking help online. In addition, the results of the present study have practical implications for the work of mental health providers, such as counseling psychologists and online mental health support.Keywords: adolescents, counseling, online help-seeking, online help-providing
Procedia PDF Downloads 1654423 Genotoxicity of 4-Nonylphenol (4NP) on Oreochromus spilurs Fish
Authors: M. M. Alsharif
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4-Nonylphenol Compound is widely used as an element of detergents, paints, insecticides and many others products. It is known that the existence of this compound may lead to the emission of estrogenic responses in mammals, birds and fish. It is described as pollutant since it causes disorder of endocrine glands. In previous studies, it was proven that this compound exists in water and in the materials precipitated in Red Sea coast in Jeddah near the drains of processed drainage water and near the drainage site of the residuals of paper factories. Therefore, this study aimed to evaluate the cytogenetic aberrations caused by 4-nonylphenol through exposing Talapia Fishes to aquatic solution of the compound with 0, 15, 30 microgram/liter for one month. Samples of gills and liver were collected for micronuclei, nuclear abnormalities and measuring DNA and RNA amount in the treated fish. The results pointed out that there is a significant increase in the numbers of micronuclei in the fish exposed to the former concentrations as compared to the control group. Exposing fishes to 4-nonylphenol resulted in an increased amount of both DNA and RNA, compared to the control group. There is a positive correlation between the amount of the compound (i.e. dosage dependent effect) and the inspiring for cytogenetic effect on Talapia fishes in Jeddah. Therefore, micronucleus test, DNA and RNA contents can be considered as an index of cumulative exposure, which appear to be a sensitive model to evaluate genotoxic effects of 4-Nonylphenol compound on fish.Keywords: genotoxic, 4-nonylphenol, micronuclei, fish, DNA, RNA
Procedia PDF Downloads 3104422 Associated Factors of Hypertension, Hypercholesterolemia and Double Burden Hypertension-Hypercholesterolemia in Patients With Congestive Heart Failure: Hospital Based Study
Authors: Pierre Mintom, William Djeukeu Asongni, Michelle Moni, William Dakam, Christine Fernande Nyangono Biyegue.
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Background: In order to prevent congestive heart failure, control of hypertension and hypercholesterolemia is necessary because those risk factors frequently occur in combination. Objective: The aim of the study is to determine the prevalence and risk factors of hypertension, hypercholesterolemia and double burden HTA-Hypercholesterolemia in patients with congestive heart failure. Methodology: A database of 98 patients suffering from congestive heart failure was used. The latter were recruited from August 15, 2017, to March 5, 2018, in the Cardiology department of Deido District Hospital of Douala. This database provides information on sociodemographic parameters, biochemical examinations, characteristics of heart failure and food consumption. ESC/ESH and NCEP-ATPIII definitions were used to define Hypercholesterolemia (total cholesterol ≥200mg/dl), Hypertension (SBP≥140mmHg and/or DBP≥90mmHg). Double burden hypertension-hypercholesterolemia was defined as follows: total cholesterol (CT)≥200mg/dl, SBP≥140mmHg and DBP≥90mmHg. Results: The prevalence of hypertension (HTA), hypercholesterolemia (hyperchol) and double burden HTA-Hyperchol were 61.2%, 66.3% and 45.9%, respectively. No sociodemographic factor was associated with hypertension, hypercholesterolemia and double burden, but Male gender was significantly associated (p<0.05) with hypercholesterolemia. HypoHDLemia significantly increased hypercholesterolemia and the double burden by 19.664 times (p=0.001) and 14.968 times (p=0.021), respectively. Regarding dietary habits, the consumption of rice, peanuts and derivatives and cottonseed oil respectively significantly (p<0.05) exposed to the occurrence of hypertension. The consumption of tomatoes, green bananas, corn and derivatives, peanuts and derivatives and cottonseed oil significantly exposed (p<0.05) to the occurrence of hypercholesterolemia. The consumption of palm oil and cottonseed oil exposed the occurrence of the double burden of hypertension-hypercholesterolemia. Consumption of eggs protects against hypercholesterolemia, and consumption of peanuts and tomatoes protects against the double burden. Conclusion: hypercholesterolemia associated with hypertension appears as a complicating factor of congestive heart failure. Key risk factors are mainly diet-based, suggesting the importance of nutritional education for patients. New management protocols emphasizing diet should be considered.Keywords: risk factors, hypertension, hypercholesterolemia, congestive heart failure
Procedia PDF Downloads 694421 Dielectric Spectroscopy Investigation of Hydrophobic Silica Aerogel
Authors: Deniz Bozoglu, Deniz Deger, Kemal Ulutas, Sahin Yakut
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In recent years, silica aerogels have attracted great attention due to their outstanding properties, and their wide variety of potential applications such as microelectronics, nuclear and high-energy physics, optics and acoustics, superconductivity, space-physics. Hydrophobic silica aerogels were successfully synthesized in one-step by surface modification at ambient pressure. FT-IR result confirmed that Si-OH groups were successfully converted into hydrophobic and non-polar Si-CH3 groups by surface modification using trimethylchloro silane (TMCS) as co-precursor. Using Alpha-A High-Resolution Dielectric, Conductivity and Impedance Analyzer, AC conductivity of samples were examined at temperature range 293-423 K and measured over frequency range between 1-106 Hz. The characteristic relaxation time decreases with increasing temperature. The AC conductivity follows σ_AC (ω)=σ_t-σ_DC=Aω^s relation at frequencies higher than 10 Hz, and the dominant conduction mechanism is found to obey the Correlated Barrier Hopping (CBH) mechanism. At frequencies lower than 10 Hz, the electrical conduction is found to be in accordance with DC conduction mechanism. The activation energies obtained from AC conductivity results and it was observed two relaxation regions.Keywords: aerogel, synthesis, dielectric constant, dielectric loss, relaxation time
Procedia PDF Downloads 1924420 A Comprehensive Safety Analysis for a Pressurized Water Reactor Fueled with Mixed-Oxide Fuel as an Accident Tolerant Fuel
Authors: Mohamed Y. M. Mohsen
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The viability of utilising mixed-oxide fuel (MOX) ((U₀.₉, rgPu₀.₁) O₂) as an accident-tolerant fuel (ATF) has been thoroughly investigated. MOX fuel provides the best example of a nuclear waste recycling process. The MCNPX 2.7 code was used to determine the main neutronic features, especially the radial power distribution, to identify the hot channel on which the thermal-hydraulic (TH) study was performed. Based on the computational fluid dynamics technique, the simulation of the rod-centered thermal-hydraulic subchannel model was implemented using COMSOL Multiphysics. TH analysis was utilised to determine the axially and radially distributed temperatures of the fuel and cladding materials, as well as the departure from the nucleate boiling ratio (DNBR) along the coolant channel. COMSOL Multiphysics can simulate reality by coupling multiphysics, such as coupling between heat transfer and solid mechanics. The main solid structure parameters, such as the von Mises stress, volumetric strain, and displacement, were simulated using this coupling. When the neutronic, TH, and solid structure performances of UO₂ and ((U₀.₉, rgPu₀.₁) O₂) were compared, the results showed considerable improvement and an increase in safety margins with the use of ((U₀.₉, rgPu₀.₁) O₂).Keywords: mixed-oxide, MCNPX, neutronic analysis, COMSOL-multiphysics, thermal-hydraulic, solid structure
Procedia PDF Downloads 1084419 Recovery and Identification of Phenolic Acids in Honey Samples from Different Floral Sources of Pakistan Having Antimicrobial Activity
Authors: Samiyah Tasleem, Muhammad Abdul Haq, Syed Baqir Shyum Naqvi, Muhammad Abid Husnain, Sajjad Haider Naqvi
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The objective of the present study was: a) to investigate the antimicrobial activity of honey samples of different floral sources of Pakistan, b) to recover the phenolic acids in them as a possible contributing factor of antimicrobial activity. Six honey samples from different floral sources, namely: Trachysperm copticum, Acacia species, Helianthus annuus, Carissa opaca, Zizyphus and Magnifera indica were used. The antimicrobial activity was investigated by the disc diffusion method against eight freshly isolated clinical isolates (Staphylococci aureus, Staphylococci epidermidis, Streptococcus faecalis, Pseudomonas aeruginosa, Klebsiella pneumonia, Escherichia coli, Proteus vulgaris and Candida albicans). Antimicrobial activity of honey was compared with five commercial antibiotics, namely: doxycycline (DO-30ug/mL), oxytetracycline (OT-30ug/mL), clarithromycin (CLR–15ug/mL), moxifloxacin (MXF-5ug/mL) and nystatin (NT – 100 UT). The fractions responsible for antimicrobial activity were extracted using ethyl acetate. Solid phase extraction (SPE) was used to recover the phenolic acids of honey samples. Identification was carried out via High-Performance Liquid Chromatography (HPLC). The results indicated that antimicrobial activity was present in all honey samples and found comparable to the antibiotics used in the study. In the microbiological assay, the ethyl acetate honey extract was found to exhibit a very promising antimicrobial activity against all the microorganisms tested, indicating the existence of phenolic compounds. Six phenolic acids, namely: gallic, caffeic, ferulic, vanillic, benzoic and cinnamic acids were identified besides some unknown substance by HPLC. In conclusion, Pakistani honey samples showed a broad spectrum antibacterial and promising antifungal activity. Identification of six different phenolic acids showed that Pakistani honey samples are rich sources of phenolic compounds that could be the contributing factor of antimicrobial activity.Keywords: Pakistani honey, antimicrobial activity, Phenolic acids eg.gallic, caffeic, ferulic, vanillic, benzoic and cinnamic acids
Procedia PDF Downloads 5524418 Ethnic Identity as an Asset: Linking Ethnic Identity, Perceived Social Support, and Mental Health among Indigenous Adults in Taiwan
Authors: A.H.Y. Lai, C. Teyra
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In Taiwan, there are 16 official indigenous groups, accounting for 2.3% of the total population. Like other indigenous populations worldwide, indigenous peoples in Taiwan have poorer mental health because of their history of oppression and colonisation. Amid the negative narratives, the ethnic identity of cultural minorities is their unique psychological and cultural asset. Moreover, positive socialisation is found to be related to strong ethnic identity. Based on Phinney’s theory on ethnic identity development and social support theory, this study adopted a strength-based approach conceptualising ethnic identity as the central organising principle that linked perceived social support and mental health among indigenous adults in Taiwan. Aims. Overall aim is to examine the effect of ethnic identity and social support on mental health. Specific aims were to examine : (1) the association between ethnic identity and mental health; (2) the association between perceived social support and mental health ; (3) the indirect effect of ethnic identity linking perceived social support and mental health. Methods. Participants were indigenous adults in Taiwan (n=200; mean age=29.51; Female=31%, Male=61%, Others=8%). A cross-sectional quantitative design was implemented using data collected in the year 2020. Respondent-driven sampling was used. Standardised measurements were: Ethnic Identity Scale(6-item); Social Support Questionnaire-SF(6 items); Patient Health Questionnaire(9-item); and Generalised Anxiety Disorder(7-item). Covariates were age, gender and economic satisfaction. A four-stage structural equation modelling (SEM) with robust maximin likelihood estimation was employed using Mplus8.0. Step 1: A measurement model was built and tested using confirmatory factor analysis (CFA). Step 2: Factor covariates were re-specified as direct effects in the SEM. Covariates were added. The direct effects of (1) ethnic identity and social support on depression and anxiety and (2) social support on ethnic identity were tested. The indirect effect of ethnic identity was examined with the bootstrapping technique. Results. The CFA model showed satisfactory fit statistics: x^2(df)=869.69(608), p<.05; Comparative ft index (CFI)/ Tucker-Lewis fit index (TLI)=0.95/0.94; root mean square error of approximation (RMSEA)=0.05; Standardized Root Mean Squared Residual (SRMR)=0.05. Ethnic identity is represented by two latent factors: ethnic identity-commitment and ethnic identity-exploration. Depression, anxiety and social support are single-factor latent variables. For the SEM, model fit statistics were: x^2(df)=779.26(527), p<.05; CFI/TLI=0.94/0.93; RMSEA=0.05; SRMR=0.05. Ethnic identity-commitment (b=-0.30) and social support (b=-0.33) had direct negative effects on depression, but ethnic identity-exploration did not. Ethnic identity-commitment (b=-0.43) and social support (b=-0.31) had direct negative effects on anxiety, while identity-exploration (b=0.24) demonstrated a positive effect. Social support had direct positive effects on ethnic identity-exploration (b=0.26) and ethnic identity-commitment (b=0.31). Mediation analysis demonstrated the indirect effect of ethnic identity-commitment linking social support and depression (b=0.22). Implications: Results underscore the role of social support in preventing depression via ethnic identity commitment among indigenous adults in Taiwan. Adopting the strength-based approach, mental health practitioners can mobilise indigenous peoples’ commitment to their group to promote their well-being.Keywords: ethnic identity, indigenous population, mental health, perceived social support
Procedia PDF Downloads 1054417 An Exploratory Factor and Cluster Analysis of the Willingness to Pay for Last Mile Delivery
Authors: Maximilian Engelhardt, Stephan Seeck
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The COVID-19 pandemic is accelerating the already growing field of e-commerce. The resulting urban freight transport volume leads to traffic and negative environmental impact. Furthermore, the service level of parcel logistics service provider is lacking far behind the expectations of consumer. These challenges can be solved by radically reorganize the urban last mile distribution structure: parcels could be consolidated in a micro hub within the inner city and delivered within time windows by cargo bike. This approach leads to a significant improvement of consumer satisfaction with their overall delivery experience. However, this approach also leads to significantly increased costs per parcel. While there is a relevant share of online shoppers that are willing to pay for such a delivery service there are no deeper insights about this target group available in the literature. Being aware of the importance of knowing target groups for businesses, the aim of this paper is to elaborate the most important factors that determine the willingness to pay for sustainable and service-oriented parcel delivery (factor analysis) and to derive customer segments (cluster analysis). In order to answer those questions, a data set is analyzed using quantitative methods of multivariate statistics. The data set was generated via an online survey in September and October 2020 within the five largest cities in Germany (n = 1.071). The data set contains socio-demographic, living-related and value-related variables, e.g. age, income, city, living situation and willingness to pay. In a prior work of the author, the data was analyzed applying descriptive and inference statistical methods that only provided limited insights regarding the above-mentioned research questions. The analysis in an exploratory way using factor and cluster analysis promise deeper insights of relevant influencing factors and segments for user behavior of the mentioned parcel delivery concept. The analysis model is built and implemented with help of the statistical software language R. The data analysis is currently performed and will be completed in December 2021. It is expected that the results will show the most relevant factors that are determining user behavior of sustainable and service-oriented parcel deliveries (e.g. age, current service experience, willingness to pay) and give deeper insights in characteristics that describe the segments that are more or less willing to pay for a better parcel delivery service. Based on the expected results, relevant implications and conclusions can be derived for startups that are about to change the way parcels are delivered: more customer-orientated by time window-delivery and parcel consolidation, more environmental-friendly by cargo bike. The results will give detailed insights regarding their target groups of parcel recipients. Further research can be conducted by exploring alternative revenue models (beyond the parcel recipient) that could compensate the additional costs, e.g. online-shops that increase their service-level or municipalities that reduce traffic on their streets.Keywords: customer segmentation, e-commerce, last mile delivery, parcel service, urban logistics, willingness-to-pay
Procedia PDF Downloads 1104416 Satellite Images to Determine Levels of Fire Severity in a Native Chilean Forest: Assessing the Responses of Soil Mesofauna Diversity to a Fire Event
Authors: Carolina Morales, Ricardo Castro-Huerta, Enrique A. Mundaca
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The edaphic fauna is the main factor involved in the transformation of nutrients and soil decomposition processes. Edaphic organisms are highly sensitive to soil disturbances, which normally causes changes in the composition and abundance of such organisms. Fire is known to be a disturbing factor since it affects the physical, chemical and biological properties of the soil and the whole ecosystem. During the summer (December-March) of 2017, Chile suffered the major fire events recorded in its modern history, which affected a vast area and a number of ecosystem types. The objective of this study was first to use remote sensing satellite images and GIS (Geographic Information Systems) to assess and identify levels of fire severity in disturbed areas and to compare the responses of the soil mesofauna diversity among such areas. We identified four areas (treatments) with an ascending level of severity, namely: mild, medium, high severity, and free of fire. A non-affected patch of forest was established as a control. Three samples from each treatment were collected in the form of a soil cube (10x10x10 cm). Edaphic mesofauna was obtained from each sample through the Berlese-Tullgren funnel method. Collected specimens were quantified and identified, using the RTU (Recognisable Taxonomic Unit) criterion. Diversity was analysed using inferential statistics to compare Simpson and Shannon-Wiener indexes across treatments. As predicted, the unburned forest patch (control) exhibited higher diversity values than the treatments. Significantly higher diversity values were recorded in those treatments subjected to lower fire severity. We conclude that remote sensing zoning is an adequate tool to identify different levels of fire severity and that an edaphic mesofauna is a group of organisms that qualify as good bioindicators for monitoring soil recovery after fire events.Keywords: bioindicator, Chile, fire severity level, soil
Procedia PDF Downloads 1634415 Improvement of Model for SIMMER Code for SFR Corium Relocation Studies
Authors: A. Bachrata, N. Marie, F. Bertrand, J. B. Droin
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The in-depth understanding of severe accident propagation in Generation IV of nuclear reactors is important so that appropriate risk management can be undertaken early in their design process. This paper is focused on model improvements in the SIMMER code in order to perform studies of severe accident mitigation of Sodium Fast Reactor. During the design process of the mitigation devices dedicated to extraction of molten fuel from the core region, the molten fuel propagation from the core up to the core catcher has to be studied. In this aim, analytical as well as the complex thermo-hydraulic simulations with SIMMER-III code are performed. The studies presented in this paper focus on physical phenomena and associated physical models that influence the corium relocation. Firstly, the molten pool heat exchange with surrounding structures is analysed since it influences directly the instant of rupture of the dedicated tubes favouring the corium relocation for mitigation purpose. After the corium penetration into mitigation tubes, the fuel-coolant interactions result in formation of debris bed. Analyses of debris bed fluidization as well as sinking into a fluid are presented in this paper.Keywords: corium, mitigation tubes, SIMMER-III, sodium fast reactor
Procedia PDF Downloads 3904414 Assessment of Soil Quality Indicators in Rice Soil of Tamil Nadu
Authors: Kaleeswari R. K., Seevagan L .
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Soil quality in an agroecosystem is influenced by the cropping system, water and soil fertility management. A valid soil quality index would help to assess the soil and crop management practices for desired productivity and soil health. The soil quality indices also provide an early indication of soil degradation and needy remedial and rehabilitation measures. Imbalanced fertilization and inadequate organic carbon dynamics deteriorate soil quality in an intensive cropping system. The rice soil ecosystem is different from other arable systems since rice is grown under submergence, which requires a different set of key soil attributes for enhancing soil quality and productivity. Assessment of the soil quality index involves indicator selection, indicator scoring and comprehensive score into one index. The most appropriate indicator to evaluate soil quality can be selected by establishing the minimum data set, which can be screened by linear and multiple regression factor analysis and score function. This investigation was carried out in intensive rice cultivating regions (having >1.0 lakh hectares) of Tamil Nadu viz., Thanjavur, Thiruvarur, Nagapattinam, Villupuram, Thiruvannamalai, Cuddalore and Ramanathapuram districts. In each district, intensive rice growing block was identified. In each block, two sampling grids (10 x 10 sq.km) were used with a sampling depth of 10 – 15 cm. Using GIS coordinates, and soil sampling was carried out at various locations in the study area. The number of soil sampling points were 41, 28, 28, 32, 37, 29 and 29 in Thanjavur, Thiruvarur, Nagapattinam, Cuddalore, Villupuram, Thiruvannamalai and Ramanathapuram districts, respectively. Principal Component Analysis is a data reduction tool to select some of the potential indicators. Principal Component is a linear combination of different variables that represents the maximum variance of the dataset. Principal Component that has eigenvalues equal or higher than 1.0 was taken as the minimum data set. Principal Component Analysis was used to select the representative soil quality indicators in rice soils based on factor loading values and contribution percent values. Variables having significant differences within the production system were used for the preparation of the minimum data set. Each Principal Component explained a certain amount of variation (%) in the total dataset. This percentage provided the weight for variables. The final Principal Component Analysis based soil quality equation is SQI = ∑ i=1 (W ᵢ x S ᵢ); where S- score for the subscripted variable; W-weighing factor derived from PCA. Higher index scores meant better soil quality. Soil respiration, Soil available Nitrogen and Potentially Mineralizable Nitrogen were assessed as soil quality indicators in rice soil of the Cauvery Delta zone covering Thanjavur, Thiruvavur and Nagapattinam districts. Soil available phosphorus could be used as a soil quality indicator of rice soils in the Cuddalore district. In rain-fed rice ecosystems of coastal sandy soil, DTPA – Zn could be used as an effective soil quality indicator. Among the soil parameters selected from Principal Component Analysis, Microbial Biomass Nitrogen could be used quality indicator for rice soils of the Villupuram district. Cauvery Delta zone has better SQI as compared with other intensive rice growing zone of Tamil Nadu.Keywords: soil quality index, soil attributes, soil mapping, and rice soil
Procedia PDF Downloads 904413 Fear-of-Failure and Woman Entrepreneurship: Comparative Analysis Austria Versus USA
Authors: Magdalena Meusburger, Caroline Hofer
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The advancement of woman entrepreneurship in the last decade has been a vital driver for social and economic development. Despite the positive evolution, women entrepreneurs are still underrepresented in entrepreneurial ecosystems. Fear-of-failure is a major factor affecting their entrepreneurial activity. This survey-based research focuses on aspiring and established entrepreneurial women in Austria and in the USA. It explores and compares the extent to which fear-of-failure influences their self-employment and their aspirations to become self-employed.Keywords: entrepreneurial ecosystems, fear-of-failure, female entrepreneurship, woman entrepreneurship
Procedia PDF Downloads 3704412 Knowledge of Risk Factors and Health Implications of Fast Food Consumption among Undergraduate in Nigerian Polytechnic
Authors: Adebusoye Michael, Anthony Gloria, Fasan Temitope, Jacob Anayo
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Background: The culture of fast food consumption has gradually become a common lifestyle in Nigeria especially among young people in urban areas, in spite of the associated adverse health consequences. The adolescent pattern of fast foods consumption and their perception of this practice, as a risk factor for Non-Communicable Diseases (NCDs), have not been fully explored. This study was designed to assess fast food consumption pattern and the perception of it as a risk factor for NCDs among undergraduates of Federal Polytechnic, Bauchi. Methodology: The study was descriptive cross-sectional in design. One hundred and eighty-five students were recruited using systematic random sampling method from the two halls of residence. A structured questionnaire was used to assess the consumption pattern of fast foods. Data collected from the questionnaires were analysed using statistical package for the social sciences (SPSS) version 16. Simple descriptive statistics, such as frequency counts and percentages were used to interpret the data. Results: The age range of respondents was 18-34 years, 58.4% were males, 93.5% singles and 51.4% of their parents were employed. The majority (100%) were aware of fast foods and (75%) agreed to its implications as NCD. Fast foods consumption distribution included meat pie (4.9%), beef roll/ sausage (2.7%), egg roll (13.5%), doughnut (16.2%), noodles(18%) and carbonated drinks (3.8%). 30.3% consumed thrice in a week and 71% attached workload to high consumption of fast food. Conclusion: It was revealed that a higher social pressure from peers, time constraints, class pressure and school programme had the strong influence on high percentages of higher institutions’ students consume fast foods and therefore nutrition educational campaigns for campus food outlets or vendors and behavioural change communication on healthy nutrition and lifestyles among young people are hereby advocated.Keywords: fast food consumption, Nigerian polytechnic, risk factors, undergraduate
Procedia PDF Downloads 4714411 Estimating Housing Prices Using Automatic Linear Modeling in the Metropolis of Mashhad, Iran
Authors: Mohammad Rahim Rahnama
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Market-transaction price for housing is the main criteria for determining municipality taxes and is determined and announced on an annual basis. Of course, there is a discrepancy between the actual value of transactions in the Bureau of Finance (P for short) or municipality (P´ for short) and the real price on the market (P˝). The present research aims to determine the real price of housing in the metropolis of Mashhad and to pinpoint the price gap with those of the aforementioned apparatuses and identify the factors affecting it. In order to reach this practical objective, Automatic Linear Modeling, which calls for an explanatory research, was utilized. The population of the research consisted of all the residential units in Mashhad, from which 317 residential units were randomly selected. Through cluster sampling, out of the 170 income blocks defined by the municipality, three blocks form high-income (Kosar), middle-income (Elahieh), and low-income (Seyyedi) strata were surveyed using questionnaires during February and March of 2015 and the information regarding the price and specifications of residential units were gathered. In order to estimate the effect of various factors on the price, the relationship between independent variables (8 variables) and the dependent variable of the housing price was calculated using Automatic Linear Modeling in SPSS. The results revealed that the average for housing price index is 788$ per square meter, compared to the Bureau of Finance’s prices which is 10$ and that of municipality’s which is 378$. Correlation coefficient among dependent and independent variables was calculated to be R²=0.81. Out of the eight initial variables, three were omitted. The most influential factor affecting the housing prices is the quality of Quality of construction (Ordinary, Full, Luxury). The least important factor influencing the housing prices is the variable of number of sides. The price gap between low-income (Seyyedi) and middle-income (Elahieh) districts was not confirmed via One-Way ANOVA but their gap with the high-income district (Kosar) was confirmed. It is suggested that city be divided into two low-income and high-income sections, as opposed three, in terms of housing prices.Keywords: automatic linear modeling, housing prices, Mashhad, Iran
Procedia PDF Downloads 2574410 Coping Mechanisms of Batangueño Families Facing Cancer
Authors: Aiza G. Clanor, Lotlot B. Hernandez, Jonna Marie T. Ibuna
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This study aimed to know the coping mechanisms of Batangueño families facing cancer, specifically, those from Cancer Warriors Foundation, Inc. Batangas chapter. The researchers used purposive sampling. This study was limited to the responses provided by the Batangueño families of the cancer patients. A family member of the immediate family with a child facing cancer represents the family as a whole. A total number of forty six (46) respondents were given the questionnaires. Upon analysis, most of the respondents came from rural areas and nuclear family and have Php 5000 and below family monthly income. Most of them have their own houses, and 3 to 5 members, one of whom is a cancer patient diagnosed for more than 2 years. The two most frequently utilized coping strategies were mobilizing the family to acquire and accept help, and reframing. Passive appraisal is the least utilized one. There was a significant difference on the coping mechanisms of the family relative to passive appraisal based on the length of time since the illness was first diagnosed. Based from the study, the researchers developed modules with discussions and activities on cancer awareness, ideas on coping and how to deal with the cancer patients that may help the respondents and other Batangueño families overcome the difficulties in facing cancer. The researchers recommend the modules for they are found to be effective ways to help the families relieve stress, reduce anxiety and improve quality of life.Keywords: coping with chronic illness, family, psychology, cancer
Procedia PDF Downloads 5404409 Development of Lead-Bismuth Eutectic Sub-Channel Code Available for Wire Spacer
Authors: Qi Lu, Jian Deng, Daishun Huang, Chao Guo
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The lead cooled fast reactor is considered as one of the most potential Generation IV nuclear systems due to the low working pressure, the appreciable neutron economy, and the considerable passive characteristics. Meanwhile, the lead bismuth eutectic (LBE) has the related advantages of lead with the weaker corrosiveness, which has been paid much attention by recent decades. Moreover, the sub-channel code is a necessary analysis tool for the reactor thermal-hydraulic design and safety analysis, which has been developed combined with the accumulation of LBE experimental data and the understanding of physical phenomena. In this study, a sub-channel code available for LBE was developed, and the corresponding geometric characterization method of typical sub-channels was described in detail, especially for for the fuel assembly with wire spacer. As for this sub-channel code, the transversal thermal conduction through gap was taken into account. In addition, the physical properties, the heat transfer model, the flow resistance model and the turbulent mixing model were analyzed. Finally, the thermal-hydraulic experiments of LBE conducted on THEADES (THErmal-hydraulics and Ads DESign) were selected as the evaluation data of this sub-channel code, including 19 rods with wire spacer, and the calculated results were in good agreement with the experimental results.Keywords: lead bismuth eutectic, sub-channel code, wire spacer, transversal thermal conduction
Procedia PDF Downloads 1334408 Combining a Continuum of Hidden Regimes and a Heteroskedastic Three-Factor Model in Option Pricing
Authors: Rachid Belhachemi, Pierre Rostan, Alexandra Rostan
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This paper develops a discrete-time option pricing model for index options. The model consists of two key ingredients. First, daily stock return innovations are driven by a continuous hidden threshold mixed skew-normal (HTSN) distribution which generates conditional non-normality that is needed to fit daily index return. The most important feature of the HTSN is the inclusion of a latent state variable with a continuum of states, unlike the traditional mixture distributions where the state variable is discrete with little number of states. The HTSN distribution belongs to the class of univariate probability distributions where parameters of the distribution capture the dependence between the variable of interest and the continuous latent state variable (the regime). The distribution has an interpretation in terms of a mixture distribution with time-varying mixing probabilities. It has been shown empirically that this distribution outperforms its main competitor, the mixed normal (MN) distribution, in terms of capturing the stylized facts known for stock returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence. Second, heteroscedasticity in the model is captured by a threeexogenous-factor GARCH model (GARCHX), where the factors are taken from the principal components analysis of various world indices and presents an application to option pricing. The factors of the GARCHX model are extracted from a matrix of world indices applying principal component analysis (PCA). The empirically determined factors are uncorrelated and represent truly different common components driving the returns. Both factors and the eight parameters inherent to the HTSN distribution aim at capturing the impact of the state of the economy on price levels since distribution parameters have economic interpretations in terms of conditional volatilities and correlations of the returns with the hidden continuous state. The PCA identifies statistically independent factors affecting the random evolution of a given pool of assets -in our paper a pool of international stock indices- and sorting them by order of relative importance. The PCA computes a historical cross asset covariance matrix and identifies principal components representing independent factors. In our paper, factors are used to calibrate the HTSN-GARCHX model and are ultimately responsible for the nature of the distribution of random variables being generated. We benchmark our model to the MN-GARCHX model following the same PCA methodology and the standard Black-Scholes model. We show that our model outperforms the benchmark in terms of RMSE in dollar losses for put and call options, which in turn outperforms the analytical Black-Scholes by capturing the stylized facts known for index returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence.Keywords: continuous hidden threshold, factor models, GARCHX models, option pricing, risk-premium
Procedia PDF Downloads 298