Search results for: LIFE 2013 call
7415 The Influence of Islamic Arts in Omani Weaving Motifs
Authors: Zahra Ahmed Al-zadjali
Abstract:
The influence of Islam on arts can be found primarily in calligraphy, arabesque designs and architecture. Also, geometric designs were used quite extensively. Muslim craftsmen produced stunning designs based on simple geometric principles and traditional motifs which were used to decorate many surfaces. The idea of interlacing simple rectilinear lines to form the patterns impressed Arabs. Nomads of Persia, Turks and Mongols were equally impressed with the designs so they begin to use them in their homes in carpet weaving. Islamic designs, motifs and colours which were used became common place and served to influence people’s tastes. Modern life style and contemporary products have changed the style of people’s daily lives, however, people still long for the nomadic way of life. This is clearly reflected in people’s homes. In a great many Muslim homes, Islamic decorative motifs can be seen along with traditional ‘Bedouin’ style furnishing, especially in homes of the Arabian Peninsula.Keywords: art, craft, design, Oman, weaving
Procedia PDF Downloads 4717414 Exercise and Social Activities for Elderly with an Impairment Who Are Living Alone in the Community: Effects and Influencing Factors of a Dutch Program
Authors: Renate Verkaik, Mieke Rijken, Hennie Boeije
Abstract:
Elderly who are living alone and who are having one or more impairments are vulnerable for a loss of wellbeing and institutionalization. Physical exercise and social activities together with peers have the potential to make them more resilient. The Dutch program ‘More Resilience, Longer at Home’ initiated by FNO funded 126 local projects to stimulate vulnerable older citizens to participate in exercise and social activities, and as such to improve wellbeing and independent living. The program evaluation addressed the following questions: (1) what are the effects of the program on older (65+) participants exercise behavior, social activities and what is the relationship with wellbeing?, (2) which factors contribute to successful implementation of the projects and their outcomes? A mixed method approach was used. Effects on participants were assessed with a short survey, containing questions on exercise, social engagement, daily functioning, loneliness and life satisfaction. Results of the participants were compared with those of a reference group from the Dutch national population. Perceived influencing factors were investigated with a questionnaire for project leaders. This questionnaire was based on site visits and interviews with project leaders, volunteers and participating elderly. Preliminary results show that social engagement of the participating elderly rises significantly (p ≤ .05) as do their exercise levels and daily functioning. They experience less social loneliness, but not less emotional loneliness. Additionally, there is a positive association between daily functioning and life satisfaction and between exercise and life satisfaction. Perceived influencing factors that contribute to successful implementation of the projects can be categorized in 4 types: (1) characteristics of the activities; (2) profiles of the involved staff (professionals and volunteers), (3) characteristics of the organization, (4) the social political environment. Conclusions are that local projects have been successful in stimulating older citizens to participate in exercise and social activities. Multiple factors need to be addressed to ensure sustainability and scaling-up of the good practices.Keywords: elderly living alone in the community, exercise and social activities, resilience, quality of life
Procedia PDF Downloads 1377413 The Research of Industrial Space Characteristics, Layout, and Strategy in Metropolitan Area in China: In Case of Wuhan
Authors: Min Zhou, Kaixuan Lin, Yaping Huang
Abstract:
In this paper, the industrial space of metropolitan area in Wuhan is taken as a sample. First of all, it puts forward that the structure of service economy, circle gradient relocation and high degree of regional collaboration are the rules of industrial spatial development in the modern world cities. Secondly, using the economic statistics and land use vector data (1993, 2004, 2010, and 2013) of Wuhan, it analyzes the present situation of industry development and the characteristics of industrial space layout from three aspects of the industrial economic structure, industrial layout, and industrial regional synergy. Then, based on the industrial development regularity of world cities, it puts forward to construct the industrial spatial level of ‘complex industrial concentration area + modular industry unit’ and the industrial spatial structure of ‘13525’. Finally, it comes up with the optimization tactics of the industrial space’s transformation in the future under the background of new economic era.Keywords: big city of metropolitan area, industrial space, characteristics, layout, strategy
Procedia PDF Downloads 3787412 A Study on the Development of Self-Help Therapy for Bipolar Disorder
Authors: Bae Yu been, Choi Sung won, Lee Ju yeon, Yang Dan Bi
Abstract:
The purpose of this study is to develop a self-help therapy program for bipolar disorder (BD). Psychosocial treatment is adjunct to pharmacotherapy for BD, however, it is limited and they demand high costs. Therefore, the objective of the study is to overcome these limitations by developing the self-treatment for BD. The study was examined the efficacy of the self-treatment program for BD. A randomized controlled trial compared the self-help therapy (ST) intervention with a treatment as usual (TAU) group. ST group has conducted the program for 8 weeks (16 sessions). Mood chart, Quality of Life in Bipolar Disorder Questionnaire, Attitudes toward seeking professional help Scale, BIS, CERQ, YMRS, MADRS were used by pre, post, and follow up. The efficacy of the self-help therapy was analyzed by using mixed ANOVAs. There were significant differences in the rate of occurrence of mania or depression between the two groups. ST group reported stable moods on mood chart, and reductions in mood symptoms and improvements in quality of life and treatment adherence. This study was confirmed applicable to BD to the self-help therapy for patients with BD conducted first in Korea.Keywords: self help therapy, bipolar disorder, self help, self therapy
Procedia PDF Downloads 6777411 Traced Destinies: A Study on the Migration of Brazilian Children for Switzerland
Authors: Flavia Schuler Gomes, Cristina Brito Dias, Emily Schuler
Abstract:
One of the emerging themes in modern society is migration. What in the past was a route mostly traveled by men, is currently carried out by women and even children. In this sense, the objective of this research was to understand the experiences and repercussions of the migration in the life of young Brazilians who went to Switzerland. The specific objectives were: to know the causes and consequences of migration; how was the adaptation in the country in emotional and educational terms; as how the interviewees feel the impact of living with two cultures simultaneously. The research had a qualitative methodology. The participants were eight young men and women, between the ages of 18 and 25, who migrated to Switzerland as a child. The instrument used was interview technique of life history. The collected data were analyzed through the thematic content analysis. The results indicate that the young people migrated to accompany their mothers; in terms of nationality, two participants feel completely Swiss, and six believe they share Swiss and Brazilian aspects. None of the participants followed an academic career, having secondary education.Keywords: adaptation, children, culture, migration
Procedia PDF Downloads 1807410 Positive Effects of Natural Gas Usage on Air Pollution
Authors: Ismail Becenen
Abstract:
Air pollution, a consequence of urbanization brought about by modern life, is as global as it is local and regional. Because of the adverse effects of air pollution on human health, air quality is given importance all over the world. According to the decision of the World Health Organization, clean air is the basic necessity for human health and well-being. It poses a very high risk especially for heart diseases and stroke cases. In this study, the positive effects of natural gas usage on air pollution in cities are explained by using literature scans and air pollution measurement values. Natural gas is cleaner than other types of fuel. It contains less sulfur and organic sulfur compounds. When natural gas burns, it does not leave ashes, it does not cause problems in the rubbish mountains. It's a clean fuel, it easily burns and shines. It is a burning gas that is easy and efficient. In addition, there is not a toxic effect for people in case of inhalation. As a result, the use of natural gas needs to be widespread to reduce air pollution around the world in order to provide a healthier life for people and the environment.Keywords: natural gas, air pollution, sulfur dioxide, particulate matter, energy
Procedia PDF Downloads 1967409 Concentrated Whey Protein Drink with Orange Flavor: Protein Modification and Formulation
Authors: Shahram Naghizadeh Raeisi, Ali Alghooneh
Abstract:
The application of whey protein in drink industry to enhance the nutritional value of the products is important. Furthermore, the gelification of protein during thermal treatment and shelf life makes some limitations in its application. So, the main goal of this research is manufacturing of high concentrate whey protein orange drink with appropriate shelf life. In this way, whey protein was 5 to 30% hydrolyzed ( in 5 percent intervals at six stages), then thermal stability of samples with 10% concentration of protein was tested in acidic condition (T= 90 °C, pH=4.2, 5 minutes ) and neutral condition (T=120° C, pH:6.7, 20 minutes.) Furthermore, to study the shelf life of heat treated samples in 4 months at 4 and 24 °C, the time sweep rheological test were done. At neutral conditions, 5 to 20% hydrolyzed sample showed gelling during thermal treatment, whereas at acidic condition, was happened only in 5 to 10 percent hydrolyzed samples. This phenomenon could be related to the difference in hydrodynamic radius and zeta potential of samples with different level of hydrolyzation at acidic and neutral conditions. To study the gelification of heat resistant protein solutions during shelf life, for 4 months with 7 days intervals, the time sweep analysis were performed. Cross over was observed for all heat resistant neutral samples at both storage temperature, while in heat resistant acidic samples with degree of hydrolysis, 25 and 30 percentage at 4 and 20 °C, it was not seen. It could be concluded that the former sample was stable during heat treatment and 4 months storage, which made them a good choice for manufacturing high protein drinks. The Scheffe polynomial model and numerical optimization were employed for modeling and high protein orange drink formula optimization. Scheffe model significantly predicted the overal acceptance index (Pvalue<0.05) of sensorial analysis. The coefficient of determination (R2) of 0.94, the adjusted coefficient of determination (R2Adj) of 0.90, insignificance of the lack-of-fit test and F value of 64.21 showed the accuracy of the model. Moreover, the coefficient of variable (C.V) was 6.8% which suggested the replicability of the experimental data. The desirability function had been achieved to be 0.89, which indicates the high accuracy of optimization. The optimum formulation was found as following: Modified whey protein solution (65.30%), natural orange juice (33.50%), stevia sweetener (0.05%), orange peel oil (0.15%) and citric acid (1 %), respectively. Its worth mentioning that this study made an appropriate model for application of whey protein in drink industry without bitter flavor and gelification during heat treatment and shelf life.Keywords: croos over, orange beverage, protein modification, optimization
Procedia PDF Downloads 627408 Working Between Human and Non-Human Nature: Using Labour as a Tool to Capture the Transformations of Planetary Life
Authors: Ellen Kirkpatrick
Abstract:
Deforestation, toxification, and loss of environmental habitats, accompanied by expanding production and urbanization, are visibly altering planetary life. This is bringing humans and non-human nature into closer contact, resulting in the emergence of infectious diseases such as the Covid-19 virus which, while zoonotic in origin, spread through market relations and networks of local and global production. However, while the pandemic sharply illuminated the role of labour within social transformations, the question remains about the role of labour in transforming ecological relations. Drawing on a historical materialist approach, this paper explores the emergence and transmission of the COVID-19 virus through the Marxist conceptualization of metabolic rift. This allows for a perspective of human and non-human nature, which is in constant motion and dialectical. This negotiates distinctions and binaries between them as humans and non-human nature are taken to mutually constrain, enable and constitute one another. This is particularly significant when considering the ongoing transformations of a climate-changing world and the corresponding effects on social life. To do this, this paper empirically focuses on the Huanan Seafood Wholesale Market in Wuhan, China, where the COVID-19 virus was first detected. It examines how the virus jumped from non-human animals to humans through concrete production operations locally before traveling globally through networks of abstract market relations based on the logic of circulation, trade and exchange. As a mediating relation between human and non-human nature, labour is an analytical tool that can create a dialogue between the concrete and the abstract, as well as the local and global.Keywords: Marxism, social reproduction, metabolic rift, labour
Procedia PDF Downloads 227407 Multiannual Trends of Toxic and Potentially Toxic Microalgae (Ostreopsis cf. ovata, Prorocentrum lima, and Coolia monotis) in Sfax Coasts (North of Gabes Gulf, Tunisia)
Authors: Moncer Malika, Ben Brahim Mounir, Bel Hassen Malika, Hamza Asma
Abstract:
During the last decades, microalgae communities have presented significant changes in their structure and taxa composition along the Mediterranean littoral shallow waters. The main purpose of this work was to evaluate possible changes, over a 17-year scale (1997–2013), in the diversity and abundance of three toxic and potentially toxic microalgae related to changes in environmental parameters on Sfax coasts, a pole of shellfish production in Tunisia. In this 17-year span, a chronological series of data showed that a clear disparity from one year to another was observed in the abundance of studied species. The distribution of these species has been subjected to a seasonal cycle. The studied microalgae, especially Prorocentrum lima, seem to have significant relationships with many physicochemicaland meteorological parameters.Keywords: long-term monitoring HABs, physico-chemical parameters, meteorological parameters, Prorocentrum lima, Ostreopsis cf. ovata, Coolia monotis
Procedia PDF Downloads 1337406 Assessment of E-Portfolio on Teacher Reflections on English Language Education
Authors: Hsiaoping Wu
Abstract:
With the wide use of Internet, learners are exposed to the wider world. This exposure permits learners to discover new information and combine a variety of media in order to reach in-depth and broader understanding of their literacy and the world. Many paper-based teaching, learning and assessment modalities can be transferred to a digital platform. This study examines the use of e-portfolios for ESL (English as a second language) pre-service teacher. The data were collected by reviewing 100 E-portfolio from 2013 to 2015 in order to synthesize meaningful information about e-portfolios for ESL pre-service teachers. Participants were generalists, bilingual and ESL pre-service teachers. The studies were coded into two main categories: learning gains, including assessment, and technical skills. The findings showed that using e-portfolios enhanced and developed ESL pre-service teachers’ teaching and assessment skills. Also, the E-portfolio also developed the pre-service teachers’ technical stills to prepare a comprehensible portfolio to present who they are. Finally, the study and presentation suggested e-portfolios for ecological issues and educational purposes.Keywords: assessment, e-portfolio, pre-service teacher, reflection
Procedia PDF Downloads 3177405 The Effect of Resource Misallocation on the Productivity of Rice Farming in Thailand: Evidence from Household-Level Data
Authors: Siwapong Dheera-Aumpon
Abstract:
Resource misallocation is known to be prevalent in many countries. Such misallocation in the manufacturing sector is large and has a considerable negative effect on aggregate productivity. Thailand is one of the countries having large resource misallocation in the manufacturing sector. Resource misallocation is also known to be widespread in the agricultural sector. It is, therefore, likely that resource misallocation exists in the agricultural sector of Thailand as well. This study aims to evaluate the extent of resource misallocation in Thai rice farming. Using household-level data from 2013 Thai Agricultural Census, this study calculates farm total factor productivity (TFP) controlling for land quality and rain. Similar to the case of Malawi, marginal products of land and capital are found to be related to farm TFP implying large resource misallocation. The output gain from a reallocation of resources to their best use is 67 percent. The gain from reallocation is highest for farms in the southern region and followed by the northeastern region.Keywords: agriculture, misallocation, productivity, rice
Procedia PDF Downloads 2337404 Simple Multiple-Attribute Rating Technique for Optimal Decision-Making Model on Selecting Best Spiker of World Grand Prix
Authors: Chen Chih-Cheng, Chen I-Cheng, Lee Yung-Tan, Kuo Yen-Whea, Yu Chin-Hung
Abstract:
The purpose of this study is to construct a model for best spike player selection in a top volleyball tournament of the world. Data consisted of the records of 2013 World Grand Prix declared by International Volleyball Federation (FIVB). Simple Multiple-Attribute Rating Technique (SMART) was used for optimal decision-making model on the best spike player selection. The research results showed that the best spike player ranking by SMART is different than the ranking by FIVB. The results demonstrated the effectiveness and feasibility of the proposed model.Keywords: simple multiple-attribute rating technique, World Grand Prix, best spike player, International Volleyball Federation
Procedia PDF Downloads 4747403 Evaluation of Satellite and Radar Rainfall Product over Seyhan Plain
Authors: Kazım Kaba, Erdem Erdi, M. Akif Erdoğan, H. Mustafa Kandırmaz
Abstract:
Rainfall is crucial data source for very different discipline such as agriculture, hydrology and climate. Therefore rain rate should be known well both spatial and temporal for any area. Rainfall is measured by using rain-gauge at meteorological ground stations traditionally for many years. At the present time, rainfall products are acquired from radar and satellite images with a temporal and spatial continuity. In this study, we investigated the accuracy of these rainfall data according to rain-gauge data. For this purpose, we used Adana-Hatay radar hourly total precipitation product (RN1) and Meteosat convective rainfall rate (CRR) product over Seyhan plain. We calculated daily rainfall values from RN1 and CRR hourly precipitation products. We used the data of rainy days of four stations located within range of the radar from October 2013 to November 2015. In the study, we examined two rainfall data over Seyhan plain and the correlation between the rain-gauge data and two raster rainfall data was observed lowly.Keywords: meteosat, radar, rainfall, rain-gauge, Turkey
Procedia PDF Downloads 3287402 V0 Physics at LHCb. RIVET Analysis Module for Z Boson Decay to Di-Electron
Authors: A. E. Dumitriu
Abstract:
The LHCb experiment is situated at one of the four points around CERN’s Large Hadron Collider, being a single-arm forward spectrometer covering 10 mrad to 300 (250) mrad in the bending (non-bending) plane, designed primarily to study particles containing b and c quarks. Each one of LHCb’s sub-detectors specializes in measuring a different characteristic of the particles produced by colliding protons, its significant detection characteristics including a high precision tracking system and 2 ring-imaging Cherenkov detectors for particle identification. The major two topics that I am currently concerned in are: the RIVET project (Robust Independent Validation of Experiment and Theory) which is an efficient and portable tool kit of C++ class library useful for validation and tuning of Monte Carlo (MC) event generator models by providing a large collection of standard experimental analyses useful for High Energy Physics MC generator development, validation, tuning and regression testing and V0 analysis for 2013 LHCb NoBias type data (trigger on bunch + bunch crossing) at √s=2.76 TeV.Keywords: LHCb physics, RIVET plug-in, RIVET, CERN
Procedia PDF Downloads 4287401 Impact of Positive Psychology Education and Interventions on Well-Being: A Study of Students Engaged in Pastoral Care
Authors: Inna R. Edara, Haw-Lin Wu
Abstract:
Positive psychology investigates human strengths and virtues and promotes well-being. Relying on this assumption, positive interventions have been continuously designed to build pleasure and happiness, joy and contentment, engagement and meaning, hope and optimism, satisfaction and gratitude, spirituality, and various other positive measures of well-being. In line with this model of positive psychology and interventions, this study investigated certain measures of well-being in a group of 45 students enrolled in an 18-week positive psychology course and simultaneously engaged in service-oriented interventions that they chose for themselves based on the course content and individual interests. Students’ well-being was measured at the beginning and end of the course. The well-being indicators included positive automatic thoughts, optimism and hope, satisfaction with life, and spirituality. A paired-samples t-test conducted to evaluate the impact of class content and service-oriented interventions on students’ scores of well-being indicators indicated statistically significant increase from pre-class to post-class scores. There were also significant gender differences in post-course well-being scores, with females having higher levels of well-being than males. A two-way between groups analysis of variance indicated a significant interaction effect of age by gender on the post-course well-being scores, with females in the age group of 56-65 having the highest scores of well-being in comparison to the males in the same age group. Regression analyses indicated that positive automatic thought significantly predicted hope and satisfaction with life in the pre-course analysis. In the post-course regression analysis, spiritual transcendence made a significant contribution to optimism, and positive automatic thought made a significant contribution to both hope and satisfaction with life. Finally, a significant test between pre-course and post-course regression coefficients indicated that the regression coefficients at pre-course were significantly different from post-course coefficients, suggesting that the positive psychology course and the interventions were helpful in raising the levels of well-being. The overall results suggest a substantial increase in the participants’ well-being scores after engaging in the positive-oriented interventions, implying a need for designing more positive interventions in education to promote well-being.Keywords: hope, optimism, positive automatic thoughts, satisfaction with life, spirituality, well-being
Procedia PDF Downloads 2187400 A Consumption-Based Hybrid Life Cycle Assessment of Carbon Footprints in California: High Footprints in Small Urban Households
Authors: Jukka Heinonen
Abstract:
Higher density reduces distances, private car dependency and thus reduces greenhouse gas emissions (GHGs). As a result, increased density has been given a central role among urban development targets. However, it is not just travel behavior that changes along with density. Rather, the consumption patterns, or overall lifestyles, change along with changing urban structure, particularly with changing housing types and consumption opportunities. Furthermore, elevated consumption of services, more frequent flying and less intra-household sharing have been shown to potentially outweigh the gains from reduced driving in more dense urban settlements. In this study, the geography of carbon footprints (CFs) in California is analyzed paying close attention to the household size differences and the resulting economies-of-scale advantages and disadvantages. A hybrid life cycle assessment (LCA) framework is employed together with consumer expenditure data to assess the CFs. According to the study, small urban households have the highest CFs in California. Their transport related emissions are significantly lower than those of the residents of less urbanized areas, but higher emissions from other consumption categories, together with the low degree of sharing of goods, overweigh the gains. Two functional units, per capita and per household, are used to analyze the CFs and to demonstrate the importance of household size. The lifestyle impacts visible through the consumption data are also discussed. The study suggests that there are still significant gaps in our understanding of the premises of low-carbon human settlements.Keywords: carbon footprint, life cycle assessment, lifestyle, household size, consumption, economies-of-scale
Procedia PDF Downloads 3557399 A Generation Outside: Afghan Refugees in Greece 2003-2016
Authors: Kristina Colovic, Mari Janikian, Nikolaos Takis, Fotini-Sonia Apergi
Abstract:
A considerable number of Afghan asylum seekers in Greece are still waiting for answers about their future and status for personal, social and societal advancement. Most have been trapped in a stalemate of continuously postponed or temporarily progressed levels of integration into the EU/Greek process of asylum. Limited quantitative research exists investigating the psychological effects of long-term displacement among Afghans refugees in Greece. The purpose of this study is to investigate factors that are associated with and predict psychological distress symptoms among this population. Data from a sample of native Afghan nationals (N > 70) living in Greece for approximately the last ten years will be collected from May to July 2016. Criteria for participation include the following: being 18 years of age or older, and emigration from Afghanistan to Greece from 2003 onwards (i.e., long-term refugees or part of the 'old system of asylum'). Snowball sampling will be used to recruit participants, as this is considered the most effective option when attempting to study refugee populations. Participants will complete self-report questionnaires, consisting of the Afghan Symptom Checklist (ASCL), a culturally validated measure of psychological distress, the World Health Organization Quality of Life scale (WHOQOL-BREF), an adapted version of the Comprehensive Trauma Inventory-104 (CTI-104), and a modified Psychological Acculturation Scale. All instruments will be translated in Greek, through the use of forward- and back-translations by bilingual speakers of English and Greek, following WHO guidelines. A pilot study with 5 Afghan participants will take place to check for discrepancies in understanding and for further adapting the instruments as needed. Demographic data, including age, gender, year of arrival to Greece and current asylum status will be explored. Three different types of analyses (descriptive statistics, bivariate correlations, and multivariate linear regression) will be used in this study. Descriptive findings for respondent demographics, psychological distress symptoms, traumatic life events and quality of life will be reported. Zero-order correlations will assess the interrelationships among demographic, traumatic life events, psychological distress, and quality of life variables. Lastly, a multivariate linear regression model will be estimated. The findings from the study will contribute to understanding the determinants of acculturation, distress and trauma on daily functioning for Afghans in Greece. The main implications of the current study will be to advocate for capacity building and empower communities through effective program evaluation and design for mental health services for all refugee populations in Greece.Keywords: Afghan refugees, evaluation, Greece, mental health, quality of life
Procedia PDF Downloads 2887398 Absenteeism of Nursing Staff in Emergency Care Units of a City in the Interior of SãO Paulo
Authors: B. P. G. Figueira, I. C. Pinto, D. Ferro, F. C. M. Zacharias
Abstract:
The absenteeism at work constitutes in a temporary absence of labor functions resulting from various reasons, bringing damage to production, increasing costs of care and overburdening other workers, has its principal cause due to illness, often due exposure to several risks in the workplace. This study aims to know, identify and analyze the types and causes of absenteeism, such as the frequency at which it occurs by professional category, for employment contract and days not worked in Emergency Care Public in a city in the interior of São Paulo. We conducted exploratory and descriptive study with a quantitative approach, with nursing professionals, after selection of inclusion criteria was reached a universe of 208 subjects, the data collected are for the years from 2010-2013. Research has shown that the professional category of nursing assistant had 88,11% of total absenteeism, absenteeism lasting 1 day was the with the highest frequency, the women were responsible for 74,80% of absenteeism disease. It was concluded that absenteeism shall be monitored to plan control actions, establishing better political for the management of human resources, because it can be an aggravating factor in the quality of care.Keywords: absenteeism; nursing; emergency medical services, human resource
Procedia PDF Downloads 3267397 Modelling the Dynamics of Corporate Bonds Spreads with Asymmetric GARCH Models
Authors: Sélima Baccar, Ephraim Clark
Abstract:
This paper can be considered as a new perspective to analyse credit spreads. A comprehensive empirical analysis of conditional variance of credit spreads indices is performed using various GARCH models. Based on a comparison between traditional and asymmetric GARCH models with alternative functional forms of the conditional density, we intend to identify what macroeconomic and financial factors have driven daily changes in the US Dollar credit spreads in the period from January 2011 through January 2013. The results provide a strong interdependence between credit spreads and the explanatory factors related to the conditions of interest rates, the state of the stock market, the bond market liquidity and the exchange risk. The empirical findings support the use of asymmetric GARCH models. The AGARCH and GJR models outperform the traditional GARCH in credit spreads modelling. We show, also, that the leptokurtic Student-t assumption is better than the Gaussian distribution and improves the quality of the estimates, whatever the rating or maturity.Keywords: corporate bonds, default risk, credit spreads, asymmetric garch models, student-t distribution
Procedia PDF Downloads 4747396 Assessing the Resilience of the Insurance Industry under Solvency II
Authors: Vincenzo Russo, Rosella Giacometti
Abstract:
The paper aims to assess the insurance industry's resilience under Solvency II against adverse scenarios. Starting from the economic balance sheet available under Solvency II for insurance and reinsurance undertakings, we assume that assets and liabilities follow a bivariate geometric Brownian motion (GBM). Then, using the results available under Margrabe's formula, we establish an analytical solution to calibrate the volatility of the asset-liability ratio. In such a way, we can estimate the probability of default and the probability of breaching the undertaking's Solvency Capital Requirement (SCR). Furthermore, since estimating the volatility of the Solvency Ratio became crucial for insurers in light of the financial crises featured in the last decades, we introduce a novel measure that we call Resiliency Ratio. The Resiliency Ratio can be used, in addition to the Solvency Ratio, to evaluate the insurance industry's resilience in case of adverse scenarios. Finally, we introduce a simplified stress test tool to evaluate the economic balance sheet under stressed conditions. The model we propose is featured by analytical tractability and fast calibration procedure where only the disclosed data available under the Solvency II public reporting are needed for the calibration. Using the data published regularly by the European Insurance and Occupational Pensions Authority (EIOPA) in an aggregated form by country, an empirical analysis has been performed to calibrate the model and provide the related results at the country level.Keywords: Solvency II, solvency ratio, volatility of the asset-liability ratio, probability of default, probability to breach the SCR, resilience ratio, stress test
Procedia PDF Downloads 817395 Temporal Effects on Chemical Composition of Treated Wastewater and Borehole Water Used for Irrigation in Limpopo Province, South Africa
Authors: Pholosho M. Kgopa, Phatu W. Mashela, Alen Manyevere
Abstract:
Increasing incidents of drought spells in most Sub-Saharan Africa call for using alternative sources of water for irrigation in arid and semi-arid regions. A study was conducted to investigate chemical composition of borehole and treated wastewater from different sampling disposal sites at University of Limpopo Experimental Farm (ULEF). A 4 × 5 factorial experiment, with the borehole as a reference sampling site and three other sampling sites along the wastewater disposal system was conducted over five months. Water samples were collected at four sites namely, (a) exit from Pond 16 into the furrow, (b) entry into night-dam, (c) exit from night dam to irrigated fields and (d) exit from borehole to irrigated fields. Water samples were collected in the middle of each month, starting from July to November 2016. Samples were analysed for pH, EC, Ca, Mg, Na, K, Al, B, Zn, Cu, Cr, Pb, Cd and As. The site × time interactions were highly significant for Ca, Mg, Zn, Cu, Cr, Pb, Cd, and As variables, but not for Na and K. Sampling site was highly significant on all variables, with sampling period not significant for K and Na. Relative to water from the borehole, Na concentration in wastewater samples from the night-dam exit, night-dam entry and Pond16 exit were lower by 69, 34 and 55%, respectively. Relative to borehole water, Al was higher in wastewater sampling sites. In conclusion, both sampling site and period affected the chemical composition of treated wastewater.Keywords: irrigation water quality, spatial effects, temporal effects, water reuse, water scarcity
Procedia PDF Downloads 2387394 Relative Composition of Executive Compensation Packages, Corporate Governance and Financial Reporting Quality
Authors: Philemon Rakoto
Abstract:
Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality
Procedia PDF Downloads 3517393 Earthquake Classification in Molluca Collision Zone Using Conventional Statistical Methods
Authors: H. J. Wattimanela, U. S. Passaribu, A. N. T. Puspito, S. W. Indratno
Abstract:
Molluca Collision Zone is located at the junction of the Eurasian plate, Australian, Pacific, and the Philippines. Between the Sangihe arc, west of the collision zone, and to the east of Halmahera arc is active collision and convex toward the Molluca Sea. This research will analyze the behavior of earthquake occurrence in Molluca Collision Zone related to the distributions of an earthquake in each partition regions, determining the type of distribution of a occurrence earthquake of partition regions, and the mean occurrence of earthquakes each partition regions, and the correlation between the partitions region. We calculate number of earthquakes using partition method and its behavioral using conventional statistical methods. The data used is the data type of shallow earthquakes with magnitudes ≥ 4 SR for the period 1964-2013 in the Molluca Collision Zone. From the results, we can classify partitioned regions based on the correlation into two classes: strong and very strong. This classification can be used for early warning system in disaster management.Keywords: molluca collision zone, partition regions, conventional statistical methods, earthquakes, classifications, disaster management
Procedia PDF Downloads 4997392 A Study on the Reliability Evaluation of a Timer Card for Air Dryer of the Railway Vehicle
Authors: Chul Su Kim, Jun Ku Lee, Won Jun Lee
Abstract:
The EMU (electric multiple unit) vehicle timer card is a PCB (printed circuit board) for controlling the air-dryer to remove the moisture of the generated air from the air compressor of the braking device. This card is exposed to the lower part of the railway vehicle, so it is greatly affected by the external environment such as temperature and humidity. The main cause of the failure of this timer card is deterioration of soldering area of the PCB surface due to temperature and humidity. Therefore, in the viewpoint of preventive maintenance, it is important to evaluate the reliability of the timer card and predict the replacement cycle to secure the safety of the air braking device is one of the main devices for driving. In this study, the existing and the improved products were evaluated on the reliability through ALT (accelerated life test). In addition, the acceleration factor by the 'Coffin-Manson' equation was obtained, and the remaining lifetime was compared and examined.Keywords: reliability evaluation, timer card, Printed Circuit Board, Accelerated Life Test
Procedia PDF Downloads 2797391 Preference for Housing Services and Rational House Price Bubbles
Authors: Stefanie Jeanette Huber
Abstract:
This paper explores the relevance and implications of preferences for housing services on house price fluctuations through the lens of an overlapping generation’s model. The model implies that an economy whose agents have lower preferences for housing services is characterized with lower expenditure shares on housing services and will tend to experience more frequent and more volatile housing bubbles. These model predictions are tested empirically in the companion paper Housing Booms and Busts - Convergences and Divergences across OECD countries. Between 1970 - 2013, countries who spend less on housing services as a share of total income experienced significantly more housing cycles and the associated housing boom-bust cycles were more violent. Finally, the model is used to study the impact of rental subsidies and help-to-buy schemes on rational housing bubbles. Rental subsidies are found to contribute to the control of housing bubbles, whereas help-to- buy scheme makes the economy more bubble-prone.Keywords: housing bubbles, housing booms and busts, preference for housing services, expenditure shares for housing services, rental and purchase subsidies
Procedia PDF Downloads 2997390 Genetic Divergence of Life History Traits in Indian Populations of Drosophila bipectinata
Authors: Manvender Singh
Abstract:
Temperature is one of the most important climatic parameter for explaining the geographic distribution of ectothermic species. Empirical investigations on norms of the reaction according to developmental temperatures are helpful in analyzing the adapture capacity of a species which may be related to its ecological niche. In the present investigation, we have compared the effects of developmental temperatures on fecundity, hatchability, viability, and duration of development in five natural populations of Drosophila bipectinata along the latitudinal range. The clinal patterns for fecundity, as well as ovariole number, were observed which showed significant positive correlation (r=0.97). Similarly, hatchability and duration of development also revealed a positive correlation with latitude. Hence, suggesting the role of natural selection in maintaining the genetic divergence for life history traits along the north-south transect of the Indian Subcontinent.Keywords: growth temperature, fecundity, hatchability, viability, duration of development, Drosophila
Procedia PDF Downloads 2427389 Supporting Older Workers in the Workforce: Identifying Best Practices to Increase Participation
Authors: Dr Elliroma Gardiner
Abstract:
Extending the working life of older workers is one important strategy in alleviating the social and economic challenges associated with the ageing population. The Australian government has implemented several strategies to improve the participation rates of older workers, however, the success of these initiatives has been limited. The aim of this project is to identify what workplace practices influence the workforce participation decisions of older workers. Thirty semi-structured interviews were conducted with older Australians who were either recently retired or currently working. Participants were asks about the factors that influenced their decision to retire/continue working and their current (or former) workplace practices. The results of the thematic analysis identified several factors which either supported (i.e., job autonomy and managerial support) or hindered (i.e., perceptions of age discrimination and age-based stereotypes) continued workplace participation. This research has several important applications for organisation managing intergenerational workforces, as well as policy makers interested in increasing the working life of ageing workers.Keywords: ageing workers, older workers, age discrimination, age diversity
Procedia PDF Downloads 1227388 The Channels through Which Energy Tax Can Affect Economic Growth: Panel Data Analysis
Authors: Mahmoud Hassan, Walid Oueslati, Damien Rousseliere
Abstract:
This paper explores the channels through which energy taxes may affect economic growth, using a simultaneous equations model for a balanced panel data of 31 OECD countries over the 1994–2013 period. The empirical results reveal a negative impact of energy taxes on physical investment in the short and long term. This impact is negatively sensitive to the existence and level of public debt. Additionally, the results show that energy taxes have an indirect effect on human capital through their impact on polluting emissions. The taxes on energy products are able to reduce both the flux and the stock of polluting emissions that have a negative impact on human capital skills in the short and long term. Finally, we found that energy taxes could encourage eco-innovation in the short and long term.Keywords: energy taxes, economic growth, public debt, simultaneous equations model, multiple imputation
Procedia PDF Downloads 2327387 Long Term Follow-Up, Clinical Outcomes and Quality of Life after Total Arterial Revascularisation versus Conventional Coronary Surgery: A Retrospective Study
Authors: Jitendra Jain, Cassandra Hidajat, Hansraj Riteesh Bookun
Abstract:
Graft patency underpins long-term prognosis after coronary artery bypass grafting surgery (CABG). The benefits of the combined use of only the left internal mammary artery and radial artery, referred to as total arterial revascularisation (TAR), on long-term clinical outcomes and quality of life are relatively unknown. The aim of this study was to identify whether there were differences in long term clinical outcomes between recipients of TAR compared to a cohort of mostly arterial revascularization involving the left internal mammary, at least one radial artery and at least one saphenous vein graft. A retrospective analysis was performed on all patients who underwent TAR or were re-vascularized with supplementary saphenous vein graft from February 1996 to December 2004. Telephone surveys were conducted to obtain clinical outcome parameters including major adverse cardiac and cerebrovascular events (MACCE) and Short Form (SF-36v2) Health Survey responses. A total of 176 patients were successfully contacted to obtain postop follow up results. The mean follow-up length from time of surgery in our study was TAR 12.4±1.8 years and conventional 12.6±2.1. PCS score was TAR 45.9±8.8 vs LIMA/Rad/ SVG 44.9±9.2 (p=0.468) and MCS score was TAR 52.0±8.9 vs LIMA/Rad/SVG 52.5±9.3 (p=0.723). There were no significant differences between groups for NYHA class 3+ TAR 9.4% vs. LIMA/Rad/SVG 6.6%; or CCS 3+ TAR 2.35% vs. LIMA/Rad/SVG 0%.Keywords: CABG; MACCEs; quality of life; total arterial revascularisation
Procedia PDF Downloads 2187386 Hybrid Equity Warrants Pricing Formulation under Stochastic Dynamics
Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim
Abstract:
A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic
Procedia PDF Downloads 130