Search results for: option price valuation formula

Authors: Núria Arimany Serrat, Xavier Ferràs Hernández, Petra A. Nylund, Eric Viardot

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Innovation is an increasingly important antecedent to firm competitiveness and growth. Successful innovation, however, requires a significant financial commitment and the means of financing accessible to the firm may affect its ability to innovate. The access to equity financing such as venture capital has been connected to innovativeness for young firms. For established enterprises, debt financing of innovation may be a more realistic option. Continuous innovation and growth would otherwise require a constant increase of equity. We, therefore, investigate the relation between debt financing and innovation for large firms and hypothesize that those firms that carry more debt will be more innovative. The need for debt financing of innovation may be reduced for very profitable firms, which can finance innovation with cash flow. We thus hypothesize a moderating effect of profitability on the relationship between debt financing and innovation. We carry out an empirical investigation using a longitudinal data set including 167 large European firms over five years, resulting in 835 firm years. We apply generalized least squares (GLS) regression with fixed firm effects to control for firm heterogeneity. The findings support our hypotheses and we conclude that access to debt finding is an important antecedent of innovation, with profitability as a moderating factor. The results do however differ across national innovation systems and we find a strong relationship for British, Dutch, French, and Italian firms but not for German and Spanish entities. We discuss differences in the national systems of innovation and financing which contextualize the variations in the findings and thus make a nuanced contribution to the research in innovation financing. The cross-country differences calls for differentiated advice to managers, institutions, and researchers depending on the national context.

Keywords: innovation, R&D, national innovation systems, financing

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Authors: M. Rafiur Rahman, M. Mezbah Uddin, Mohammad Irfan Uddin, M. Moinul Islam

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With a rapid development of offshore renewable energy industry, the research activities in regards of harnessing power from offshore wind and wave energy are increasing day by day. Integration of wind turbines and wave energy converters into one combined semi-submersible platform might be a cost-economy and beneficial option. In this paper, the coupled integrated dynamic analysis in the time domain (TD) of a simplified semi-submersible flap type concept (SFC) is accomplished via state-of-the-art numerical code referred as Simo-Riflex-Aerodyn (SRA). This concept is a combined platform consisting of a semi-submersible floater supporting a 5 MW horizontal axis wind turbine (WT) and three elliptical shaped flap type wave energy converters (WECs) on three pontoons. The main focus is to validate the numerical model of SFC with experimental results and perform the frequency domain (FD) and TD response analysis. The numerical analysis is performed using potential flow theory for hydrodynamics and blade element momentum (BEM) theory for aerodynamics. A variety of environmental conditions encompassing the functional & survival conditions for short-term sea (1-hour simulation) are tested to evaluate the sustainability of the SFC. The numerical analysis is performed in full scale. Finally, the time domain analysis of heave, pitch & surge motions is performed numerically using SRA and compared with the experimental results. Due to the simplification of the model, there are some discrepancies which are discussed in brief.

Keywords: coupled integrated dynamic analysis, SFC, time domain analysis, wave energy converters

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Authors: Liudmila Garzanova, Lidia Ananyeva, Olga Koneva, Olga Ovsyannikova, Oxana Desinova, Mayya Starovoytova, Rushana Shayahmetova, Anna Khelkovskaya-Sergeeva

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Objectives. C-reactive protein (CRP) and erythrocyte sedimentation rate (ESR) are associated with severe course, increased morbidity and mortality in systemic sclerosis (SSc). The aim of our study was to assess changes in CRP and ESR in SSc patients during long-term RTX therapy. Methods. This study included 113 patients with SSc. Mean age was 48.1±13 years, female-85%. The mean disease duration was 6±5 years. The diffuse cutaneous subset of the disease had 55% of patients. All pts had interstitial lung disease (ILD). All patients received prednisolone at a mean dose of 11.6±4.8 mg/day, and 53 of them - were immunosuppressants at inclusion. Patients received RTX due to the ineffectiveness of previous therapy for ILD. The parameters were evaluated over the periods: at baseline (point 0), 13±2.3 month (point 1, n=113), 42±14 month (point 2, n=80) and 79±6.5 month (point 3, n=25) after initiation of RTX therapy. Cumulative mean dose of RTX at point 1 = 1.7±0.6g, at point 2 = 3±1.5g, and at point 3 = 3.8±2.4g. The results are presented in the form of mean values, delta(Δ)-difference between the baseline parameter and follow-up point. Results. There was an improvement in studied parameters on RTX therapy. There was a significant decrease of ESR, CRP and activity index (EScSG-AI) at all observation points (p=0.001). In point 1: ΔCRP was 6.7 mg/l, ΔESR = 7.4 mm/h, ΔActivity index (EScSG-AI) = 1.7. In point 2: ΔCRP was 8.7 mg/l, ΔESR = 7.5 mm/h, ΔActivity index (EScSG-AI) = 1.9. In point 3: ΔCRP was 16.1 mg/l, ΔESR = 11 mm/h, ΔActivity index (EScSG-AI) = 2.1. Conclusion. There was a significant decrease in CRP and ESR during long-term RTX therapy, which correlated with a decrease in the disease activity index. RTX is an effective treatment option for SSc with an elevation of acute-phase reactants.

Keywords: C-reactive protein, interstitial lung disease, systemic sclerosis, rituximab

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Authors: Y. Yılmaz, C. Ünal, A. Dursun

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Distribution channels play significant role for hotels. Direct and indirect selling options of hotel rooms have been increased especially with the help of new technologies, i.e. hotel’s own web sites and online booking sites. Although these options emerged as tools for diversifying the distribution channels, vast number of hotels -mostly resort hotels- is still heavily dependent upon international tour operators when selling their products. On the other hand, hotel sector is so vulnerable against crises. Economic, political or any other crisis can affect hotels very badly and so it is critical to have the right balance of distribution channel to avoid the adverse impacts of a crisis. In this study, it is aimed to search the impacts of a general crisis on the selling prices of hotels which have different weights of distribution channels. The study was done in Turkey where various crises occurred in 2015 and 2016 which had great negative impacts on Turkish tourism and led enormous occupancy rate and selling price reductions. 112 upscale resort hotel in Antalya, which is the most popular tourism destination of Turkey, joined to the research. According to the results, hotels with high dependency to international tour operators are more forced to reduce their room prices in crisis time compared to the ones which use their own web sites more. It was also found that the decline in room prices is limited for hotels which are working with national tour operators and travel agencies in crisis time.

Keywords: marketing channels, crisis, hotel, international tour operators, online travel agencies

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Authors: Spandana Ramisetty, Mandan Chidambaram, Ramesh Bhujade

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Algal biomass is not only a potential source for biocrude but also for high value chemicals like carotenoids, fatty acids, proteins, polysaccharides, vitamins etc. Astaxanthin is one such high value vital carotenoid which has extensive applications in pharmaceutical, aquaculture, poultry and cosmetic industries and expanding as dietary supplement to humans. Green microalgae Haematococcus pluvialis is identified as the richest natural source of astaxanthin and is the key source of commercial astaxanthin. Several extraction processes from wet and dry Haematococcus pluvialis biomass have been explored by researchers. Extraction with supercritical CO₂ and various physical disruption techniques like mortar and pestle, homogenization, ultrasonication and ball mill from dried algae are widely used extraction methods. However, these processes require energy intensive drying of biomass that escalates overall costs notably. From the process economics perspective, it is vital to utilize wet processing technology in order to eliminate drying costs. Hydrothermal liquefaction (HTL) is a thermo-chemical conversion process that converts wet biomass containing over 80% water to bio-products under high temperature and high pressure conditions. Astaxanthin is a lipid soluble pigment and is usually extracted along with lipid component. Mild HTL at 200°C and 60 bar has been demonstrated by researchers in a microfluidic platform achieving near complete extraction of astaxanthin from wet biomass. There is very limited work done in this field. An integrated approach of sequential HTL offers cost-effective option to extract astaxanthin/lipid from wet algal biomass without drying algae and also recovering water, minerals and nutrients. This paper reviews past work and evaluates the astaxanthin extraction processes with focus on hydrothermal extraction.

Keywords: astaxanthin, extraction, high value chemicals, hydrothermal liquefaction

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Authors: Xiaoqin Wang, Li Yin

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Background and purpose: In many practices, one estimates causal effects arising from a complex stochastic process, where a sequence of treatments are assigned to influence a certain outcome of interest, and there exist time-dependent covariates between treatments. When covariates are plentiful and/or continuous, statistical modeling is needed to reduce the huge dimensionality of the problem and allow for the estimation of causal effects. Recently, Wang and Yin (Annals of statistics, 2020) derived a new general formula, which expresses these causal effects in terms of the point effects of treatments in single-point causal inference. As a result, it is possible to conduct the modeling via point effects. The purpose of the work is to study the modeling of these causal effects via point effects. Challenges and solutions: The time-dependent covariates often have influences from earlier treatments as well as on subsequent treatments. Consequently, the standard parameters – i.e., the mean of the outcome given all treatments and covariates-- are essentially all different (null paradox). Furthermore, the dimension of the parameters is huge (curse of dimensionality). Therefore, it can be difficult to conduct the modeling in terms of standard parameters. Instead of standard parameters, we have use point effects of treatments to develop likelihood-based parametric approach to the modeling of these causal effects and are able to model the causal effects of a sequence of treatments by modeling a small number of point effects of individual treatment Achievements: We are able to conduct the modeling of the causal effects from a sequence of treatments in the familiar framework of single-point causal inference. The simulation shows that our method achieves not only an unbiased estimate for the causal effect but also the nominal level of type I error and a low level of type II error for the hypothesis testing. We have applied this method to a longitudinal study of COVID-19 mortality among Scandinavian countries and found that the Swedish approach performed far worse than the other countries' approach for COVID-19 mortality and the poor performance was largely due to its early measure during the initial period of the pandemic.

Keywords: causal effect, point effect, statistical modelling, sequential causal inference

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Authors: Haiyoung Jung, Mi Joung Leem, Sun Hwa Lee

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Background & Objective: Glucose-6-phosphate dehydrogenase (G6PD) deficiency is a genetic abnormality that results in an inadequate amount of G6PD, leading to increased susceptibility of red blood cells to reactive oxygen species and hemolysis. The present study aimed to evaluate the careSTARTTM S1 analyzer for measuring G6PD activity to hemoglobin (Hb) ratio. Methods: Precision for G6PD activity and hemoglobin measurement was evaluated using control materials with two levels on five repeated runs per day for five days. The analytic performance of the careSTARTTM S1 analyzer was compared with spectrophotometry in 40 patient samples. Reference ranges suggested by the manufacturer were validated in 20 healthy males and females each. Results: The careSTARTTM S1 analyzer demonstrated precision of 6.0% for low-level (14~45 U/dL) and 2.7% for high-level (60~90 U/dL) control in G6PD activity, and 1.4% in hemoglobin (7.9~16.3 u/g Hb). A comparison study of G6PD to Hb ratio between the careSTARTTM S1 analyzer and spectrophotometry showed an average difference of 29.1% with a positive bias of the careSTARTTM S1 analyzer. All normal samples from the healthy population were validated for the suggested reference range for males (≥2.19 U/g Hb) and females (≥5.83 U/g Hb). Conclusion: The careSTARTTM S1 analyzer demonstrated good analytical performance and can replace the current spectrophotometric measurement of G6PD enzyme activity. In the aspect of the management of clinical laboratories, it can be a reasonable option as a point-of-care analyzer with minimal handling of samples and reagents, in addition to the automatic calculation of the ratio of measured G6PD activity and Hb concentration, to minimize any clerical errors involved with manual calculation.

Keywords: POCT, G6PD, performance evaluation, careSTART

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Authors: Pravin Kumar, Rajendra K. Singh, Prabhakar Singh

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A widespread research work on Mo-based double perovskite systems has been reported as a potential application for electrode materials of solid oxide fuel cells. Mo-based double perovskites studied in form of B-site ordered double perovskite materials, with general formula A₂B′B″O₆ structured by alkaline earth element (A = Sr, Ca, Ba) and heterovalent transition metals (B′ = Fe, Co, Ni, Cr, etc. and B″ = Mo, W, etc.), are raising a significant interest as potential mixed ionic-electronic conductors in the temperature range of 500-800 °C. Such systems reveal higher electrical conductivity, particularly those assigned in form of Sr₂CoMoO₆₋δ (M = Mg, Mn, Fe, Co, Ni, Zn etc.) which were studied in different environments (air/H₂/H₂-Ar/CH₄) at an intermediate temperature. Among them, the Sr₂CoMoO₆₋δ system is a potential candidate as an anode material for solid oxide fuel cells (SOFCs) due to its better electrical conductivity. Therefore, Sr₂CoMoO₆₋δ (SCM) system with La-doped on Sr site has been studied to discover the structural and electrical properties. The double perovskite system Sr₂CoMoO₆₋δ (SCM) and doped system Sr₂-ₓLaₓCoMoO₆₋δ (SLCM, x=0.04) were synthesized by the citrate-nitrate combustion synthesis route. Thermal studies were carried out by thermo-gravimetric analysis. Phase justification was confirmed by powder X-ray diffraction (XRD) as a tetragonal structure with space group I4/m. A minor phase of SrMoO₄ (s.g. I41/a) was identified as a secondary phase using JCPDS card no. 85-0586. Micro-structural investigations revealed the formation of uniform grains. The average grain size of undoped (SCM) and doped (SLCM) compositions was calculated by a linear intercept method and found to be ⁓3.8 μm and 2.7 μm, respectively. The electrical conductivity of SLCM is found higher than SCM in the air within the temperature range of 200-600 °C. SLCM system was also measured in reducing atmosphere (pure H₂) in the temperature range 300-600 °C. SLCM has been showed the higher conductivity in the reducing atmosphere (H₂) than in air and therefore it could be a promising anode material for SOFCs.

Keywords: double perovskite, electrical conductivity, SEM, XRD

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Ashrafosadat Mousavi Laer, Elaheh Moravej

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The art of binding was simple and elementary at the beginning of Islam. This art thrived gradually and continued its development as an independent art. Identification of the binding techniques and used materials in covers and investigation of the arrays give us indexes for the better identification of different doctrines and methods of that time. The catalogers of the manuscripts usually pay attention to four items: gender, color, art elegances, injury, and exquisiteness of the cover. The criterion for classification of the covers is their art nature and gender. 15th century AD (9th century AH) was the period of the binding art development in which the most beautiful covers were produced by the so-called method of ‘burning’. At 16th century AD (10th century AH), in Safavid era, art changed completely and a fundamental evolution occurred in the technique and method of binding. The greatest change in this art was the extensive use of stamp that was made mostly of steel and copper. Theses stamps were presses against leather. These covers were called ‘beat’. In this paper, writing and bookbinding of about 32 Shahnamehs of Safavid era available in the Iranian libraries and museums are studied. An analytical-statistical study shows that four methods have been used including beat, burning, mosaic, and oily. 69 percent of the covers of these copies are cardboards with a leathery coating (goatskin) and have been produced by burning and beat methods. Its reasons are that these two methods have been common methods in Safavid era and performing them was only feasible on leather and the most desirable and commonly used leather of that time was goatskin which was the best option for cover legend durability and preserving the book and it was more durable because it had been made of goat skin. In addition, it had prepared a suitable opportunity for the binding artist’s creativity and innovation.

Keywords: Shahnameh, Safavid era, bookbinding, beat cover, burning cover

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Authors: Umugwaneza Francoise, Ntamazeze Janviere, Donghong Ding

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Entrepreneurship has been considered by majority people from developing world as “no other option” kind of career. Consequently, for a long time entrepreneurship in developing countries has been mainly practiced by people who have low or not at all formal education. Even today, to some extent, much of the actions taken by governments, donors and some societies have tendency to consider entrepreneurship as an instrument to lift up the most vulnerable population including uneducated women, school drop outers, people with disabilities and other groups who live with some sort of vulnerability. However, there is a shortage of knowledge based and know-how entrepreneurship in developing countries. Although, the entrepreneurship done with formal educated people would contribute indispensably and sustain the development, the low numbers of formal educated people become entrepreneurs in developing countries. Empirically, this paper investigated the influential factors affecting the entrepreneurial motivation, intentions and decision among African scientists and engineers postgraduate from china universities since 1995 to 2014. Results revealed that 39% are entrepreneurs, 43% work for private sectors and 18% work for governments. Only 6% of respondents are in technological entrepreneurship related to their field of graduation. Study location, mentors or research supervisors and life style are the major factors influenced their decisions to become entrepreneurs whereas complex financial systems and political instability pushed some to employments. Interestingly, significant number of entrepreneurs did not have any entrepreneurial intentions. This paper concludes with suggestions to policy makers and investors in order to encouraging technological entrepreneurs which will provide more opportunities, create jobs and improve people’s quality of life.

Keywords: technological entrepreneurship, entrepreneurial motivation, entrepreneurship decision making, entrepreneurship intentions, formal education

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Authors: Hassan Gomar, Shahin Bagheri, Nader Keyvan, Mozhdeh Shirinzadeh

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Air-Cooled Condenser (ACC) platform structures are the most complicated and principal structures in power plants and other industrial parts which need to condense the low-pressure steam in the cycle. Providing large spans for this structure has great merit as there would be more space for other subordinate buildings and pertinent equipment. Moreover, applying methods to reduce the overall cost of construction while maintaining its strength against severe seismic loading is of high significance. Tabular spatial structures and composite frames have been widely used in recent years to satisfy the need for higher strength at a reasonable price. In this research program, three different structural systems have been regarded for ACC steel platform using Special Concentrate Braced Frames (SCBF), which is the most common system (first scheme), modular spatial frames (second scheme) and finally, a modified method applying Concrete Filled Steel Tabular (CFST) columns (third scheme). The finite element method using Sap2000 and Etabs software was conducted to investigate the behavior of the structures and make a precise comparison between the models. According to the results, the total weight of the steel structure in the second scheme decreases by 13% compared to the first scheme and applying CFST columns in the third scheme causes a 3% reduction in the total weight of the structure in comparison with the second scheme while all the lateral displacements and P-M interaction ratios are in the admissible limit.

Keywords: ACC, SCBF frames, spatial structures, CFST frames

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Authors: Omar Concepcion, Osvaldo De Melo, Arturo Escobosa

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Topological insulator (TI) materials are insulating in the bulk and conducting in the surface. The unique electronic properties associated with these surface states make them strong candidates for exploring innovative quantum phenomena and as practical applications for quantum computing, spintronic and nanodevices. Many materials, including Bi₂Te₃, have been proposed as TIs and, in some cases, it has been demonstrated experimentally by angle-resolved photoemission spectroscopy (ARPES), scanning tunneling spectroscopy (STM) and/or magnetotransport measurements. A clean surface is necessary in order to make any of this measurements. Several techniques have been used to produce films and different kinds of nanostructures. Growth and characterization in situ is usually the best option although cleaving the films can be an alternative to have a suitable surface. In the present work, we report a comparison of Bi₂Te₃ grown by physical vapor transport (PVT) and molecular beam epitaxy (MBE). The samples were characterized by X-ray diffraction (XRD), Scanning electron microscopy (SEM), Atomic force microscopy (AFM), X-ray photoelectron spectroscopy (XPS) and ARPES. The Bi₂Te₃ samples grown by PVT, were cleaved in the ultra-high vacuum in order to obtain a surface free of contaminants. In both cases, the XRD shows a c-axis orientation and the pole diagrams proved the epitaxial relationship between film and substrate. The ARPES image shows the linear dispersion characteristic of the surface states of the TI materials. The samples grown by PVT, a relatively simple and cost-effective technique shows the same high quality and TI properties than the grown by MBE.

Keywords: Bismuth telluride, molecular beam epitaxy, physical vapor transport, topological insulator

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Authors: Ana Lucia Molina

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Transcranial magnetic stimulation (TMS) is a non-invasive neuromodulation technique for the investigation and modulation of cortical excitability in humans. The modulation of the processing of different cortical areas can result in several areas for rehabilitation, showing great potential in the treatment of motor disorders. In the human brain, the supplementary motor area (SMA) is involved in the control of the pelvic floor muscles (MAP), where dysfunctions of these muscles can lead to urinary incontinence. Peripheral magnetic stimulation, specifically sacral magnetic stimulation, has been used as a safe and effective treatment option for patients with lower urinary tract dysfunction. A systematic literature review was carried out (Pubmed, Medline and Google academic database) without a time limit using the keywords: "transcranial magnetic stimulation", "sacral neuromodulation", and "urinary incontinence", where 11 articles attended to the inclusion criteria. Results: Thirteen articles were selected. Magnetic stimulation is a non-invasive neuromodulation technique widely used in the evaluation of cortical areas and their respective peripheral areas, as well as in the treatment of lesions of brain origin. With regard to pelvic-perineal disorders, repetitive transcranial stimulation showed significant effects in controlling urinary incontinence, as well as sacral peripheral magnetic stimulation, in addition to exerting the potential to restore bladder sphincter function. Conclusion: Data from the literature suggest that both transcranial stimulation and peripheral stimulation are non-invasive references that can be promising and effective means of treatment in pelvic and perineal disorders. More prospective and randomized studies on a larger scale are needed, adapting the most appropriate and resolving parameters.

Keywords: urinary incontinence, non-invasive neuromodulation, sacral neuromodulation, transcranial magnetic stimulation.

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Authors: Muhammad Abu Bakar Tariq

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Construction industry plays a crucial role in the progress of societies and economies. Furthermore, construction projects have social as well as economic implications, thus, their success/failure have wider impacts. However, the industry is lagging behind in terms of efficiency and productivity. Building Information Modeling (BIM) is recognized as a revolutionary development in Architecture, Engineering and Construction (AEC) industry. There are numerous interest groups around the world providing definitions of BIM, proponents describing its advantages and opponents identifying challenges/barriers regarding adoption of BIM. This research is aimed at to determine what actually BIM is, along with its potential role in delivering successful construction projects. The methodology is critical analysis of secondary data sources i.e. information present in public domain, which include peer reviewed journal articles, industry and government reports, conference papers, books, case studies etc. It is discovered that clash detection and visualization are two major advantages of BIM. Clash detection option identifies clashes among structural, architectural and MEP designs before construction actually commences, which subsequently saves time as well as cost and ensures quality during execution phase of a project. Visualization is a powerful tool that facilitates in rapid decision-making in addition to communication and coordination among stakeholders throughout project’s life cycle. By eliminating inconsistencies that consume time besides cost during actual construction, improving collaboration among stakeholders throughout project’s life cycle, BIM can play a positive role to achieve efficiency and productivity that consequently deliver successful construction projects.

Keywords: building information modeling, clash detection, construction project success, visualization

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Authors: Siddhartha Paul, Debabrata Das

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Closed-loop supply chain (CLSC) management focuses on integrating forward and reverse flow of material as well as information to maximize value creation over the entire life-cycle of a product. Bullwhip effect in supply chain management refers to the phenomenon where a small variation in customers’ demand results in larger variation of orders at the upstream levels of supply chain. Since the quality and quantity of products returned to the collection centers (as a part of reverse logistics process) are uncertain, bullwhip effect is inevitable in CLSC. Therefore, in the present study, first, through an extensive literature survey, we identify all the important factors related to forward as well as reverse supply chain which causes bullwhip effect in CLSC. Second, we develop a system dynamics model to study the interrelationship among the factors and their effect on the performance of overall CLSC. Finally, the results of the simulation study suggest that demand forecasting, lead times, information sharing, inventory and work in progress adjustment rate, supply shortages, batch ordering, price variations, erratic human behavior, parameter correcting, delivery time delays, return rate of used products, manufacturing and remanufacturing capacity constraints are the important factors which have a significant influence on system’s performance, specifically on bullwhip effect in a CLSC.

Keywords: bullwhip effect, closed-loop supply chain, system dynamics, variance ratio

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Authors: Malihe Shahidan, Azin Madhi, Meisam Shahbaz

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In recent decades, the role of supply chains in sustaining businesses and establishing their superiority in the market has been under focus. The realization of the goals and strategies of a business enterprise is largely dependent on the cooperation of the chain, including suppliers, distributors, retailers, etc. Supply chains can potentially be disrupted by both internal and external factors. In this paper, resilience strategies have been identified and analyzed in three levels: sourcing, producing, and distributing by considering economic depression as a current risk factor for the machine-made rugs industry. In this study, semi-structured interviews for data gathering and thematic analysis for data analysis are applied. Supply chain data has been gathered from seven rug factories before and after the economic depression through semi-structured interviews. The identified strategies were derived from literature review and validated by collecting data from a group of eighteen industry and university experts, and the results were analyzed using statistical tests. Finally, the outsourcing of new products and products in the new market, the development and completion of the product portfolio, the flexibility in the composition and volume of products, the expansion of the market to price-sensitive, direct sales, and disintermediation have been determined as strategies affecting supply chain resilience of machine-made rugs' industry during an economic depression.

Keywords: distribution, economic depression, machine-made rug, outsourcing, production, sourcing, supply chain, supply chain resilience

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Authors: L. Sun, O. Bloom, K. Anderson

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The medial and lateral sural artery perforator flaps (MSAP and LSAP, respectively) are two recently described flaps that are less commonly used in lower limb trauma reconstructive surgeries compared to flaps such as the anterolateral thigh (ALT) flap or the gastrocnemius flap. The LSAP flap has several theoretical benefits over the MSAP, including the ability to be sensate and being more easily manoeuvred into position as a local flap for coverage of lateral knee or leg defects. It is less commonly used in part due to a lack of documented studies of the anatomical reliability of the perforator, and an unquantified average length of the pedicle used for microsurgical anastomosis (if used as a free flap) or flap rotation (if used as a pedicled flap). It has been shown to have significantly lower donor site morbidity compared to other flaps such as the ALT, due to the decreased need for intramuscular dissection and resulting in less muscle loss at the donor site. 11 cadaveric lower limbs were dissected, with a mean of 1.6 perforators per leg, with an average pedicle length of 45mm to the sural artery and 70mm to the popliteal artery. While the majority of perforating arteries lay close to the midline (average of 19mm lateral to the midline), there were patients whose artery was significantly lateral and would have been likely injured by the initial incision during an operation. Adding to the literature base of documented LSAP dissections provides a greater understanding of the anatomical basis of these perforator flaps, and the authors hope this will establish them as a more commonly used and discussed option when managing complicated lower limb trauma requiring soft tissue reconstruction.

Keywords: cadaveric, dissection, lateral, perforator flap, sural artery, surface anatomy

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Authors: U. V. Okpala

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Flood is an overflow of water that submerges or ‘drowns’ land. In developing countries it occurs as a result of blocking of natural and man-made drainages and poor maintenance of water dams/reservoirs which seldom give way after persistent heavy down pours. In coastal lowlands and swamp lands, flooding is aided mainly by blocked channels and indiscriminate sand fling of coastal swamp areas and natural drainage channel for urban development/constructions. In this paper, the causes of flood and possible scientific, technological, political, economic and social impacts of flood disaster on the environment a case study of Anambra State have been studied. Often times flooding is caused by climate change, especially in the developed economy where scientific mitigating options are highly employed. Researchers have identified Green Houses Gases (GHG) as the cause of global climate change. The recent flood disaster in Anambra State which caused physical damage to structures, social dislocation, contamination of clean drinking water, spread of water-borne diseases, shortage of crops and food supplies, death of non-tolerant tree species, disruption in transportation system, serious economic loss and psychological trauma is a function of climate change. There is need to encourage generation of renewable energy sources, use of less carbon intensive fuels and other energy efficient sources. Carbon capture/sequestration, proper management of our drainage systems and good maintenance of our dams are good option towards saving the environment.

Keywords: flooding, climate change, carbon capture, energy systems

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Authors: Madikeri Rohit

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As energy efficiency is the key concern in many aircraft manufacturing companies regenerative braking is a technique using which energy lost due to friction while braking can be regained. In the operation of an aircraft, significant energy is lost during deceleration or braking which occurs during its landing phase. This problem can be overcome using Regenerative Breaking System (RBS) in landing gear. The major problem faced is regarding the batteries and the overall efficiency gained in competence with the added weight. As the amount of energy required to store is huge we need batteries with high capacity for storage. Another obstacle by using high capacity batteries is the added weight which undermines the efficiency obtained using RBS. An approach to this problem is to either use the obtained energy immediately without storage or to store in other forms such as mechanical, pneumatic and hydraulic. Problem faced with mechanical systems is the weight of the flywheel needed to obtain required efficiency. Pneumatic and hydraulic systems are a better option at present. Using hydraulic systems for storing energy is efficient as it integrates into the overall hydraulic system present in the aircraft. Another obstacle is faced with the redundancy of this system. Conventional braking must be used along with RBS in order to provide redundancy. Major benefits obtained using RBS is with the help of the energy obtained during landing which can be used of engine less taxing. This reduces fuel consumption as well as noise and air pollution. Another added benefit of using RBS is to provide electrical supply to lighting systems, cabin pressurization system and can be used for emergency power supply in case of electric failure. This paper discusses about using RBS in landing gear, problems, prospects and new techniques being pursued to improve RBS.

Keywords: regenerative braking, types of energy conversion, landing gear, energy storage

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Authors: M. Koray Cetin, Mehmet Mert

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The purpose of the study is to examine impacts on tourism revenues of the exchange rate and country overall security level. There are numerous studies that examine the bidirectional relation between macroeconomic factors and tourism revenues and tourism demand. Most of the studies support the existence of impact of tourism revenues on growth rate but not vice versa. Few studies examine the impact of factors like real exchange rate or purchasing power parity on the tourism revenues. In this context, firstly impact of real exchange rate on tourism revenues examination is aimed. Because exchange rate is one of the main determinants of international tourism services price in guests currency unit. Another determinant of tourism demand for a country is country’s overall security level. This issue can be handled in the context of the relationship between tourism revenues and overall security including turmoil, terrorism, border problem, political violence. In this study, factors are handled for several countries which have tourism revenues on a certain level. With this structure, it is a panel data, and it is evaluated with panel data analysis techniques. Panel data have at least two dimensions, and one of them is time dimensions. The panel data analysis techniques are applied to data gathered from Worldbank data web page. In this study, it is expected to find impacts of real exchange rate and security factors on tourism revenues for the countries that have noteworthy tourism revenues.

Keywords: exchange rate, panel data analysis, security, tourism revenues

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Authors: Babatunde Kasim Oladele

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One of the major objectives of the Nigeria national policy on education is the provision of equal educational opportunities to all citizens at different levels of education. With regards to higher education, an aspect of the policy encourages distance learning to be organized and delivered by tertiary institutions in Nigeria. This study therefore, determines how much of the Government resources are committed, how the resources are utilized and what alternative sources of funding are available for this system of education. This study investigated the trends in recurrent costs between 2004/2005 and 2013/2014 at University of Ibadan Distance Learning Centre (DLC). A descriptive survey research design was employed for the study. Questionnaire was the research instrument used for the collection of data. The population of the study was 280 current distance learning education students, 70 academic staff and 50 administrative staff. Only 354 questionnaires were correctly filled and returned. Data collected were analyzed and coded using the frequencies, ratio, average and percentages were used to answer all the research questions. The study revealed that staff salaries and allowances of academic and non-academic staff represent the most important variable that influences the cost of education. About 55% of resources were allocated to this sector alone. The study also indicates that costs rise every year with increase in enrolment representing a situation of diseconomies of scale. This study recommends that Universities who operates distance learning program should strive to explore other internally generated revenue option to boost their revenue. University of Ibadan, being the premier university in Nigeria, should be given foreign aid and home support, both financially and materially, to enable the institute to run a formidable distance education program that would measure up in planning and implementation with those of developed nation.

Keywords: open education, distance education, University of Ibadan, Nigeria, cost of education

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Authors: Xin Li, Ji-Yang Yu, Yue-Hua Niu, Lu-Yuan Wang

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As an inevitable chain of the space data acquirement system, space-borne storage system based on Nand Flash has gradually been implemented in spacecraft. In face of massive, parallel and varied data on board, efficient data management become an important issue of storage research. Face to the requirements of high-performance and reliability in Nand Flash storage system, a combination of hardware and file system design can drastically increase system dependability, even for missions with a very long duration. More sophisticated flash storage concepts with advanced operating systems have been researched to improve the reliability of Nand Flash storage system on satellites. In this paper, architecture of file system with multi-channel data acquisition and storage on board is proposed, which obtains large-capacity and high-performance with the combine of intra-channel pipeline and device partition in Nand Flash. Multi-channel data in different rate are stored as independent files with parallel-storage system in device partition, which assures the high-effective and reliable throughput of file treatments. For massive and high-speed data storage, an efficiency assessment model is established to calculate the bandwidth formula of intra-channel pipeline. Information tables designed in Magnetoresistive RAM (MRAM) hold the management of bad block in Nand Flash and the arrangement of file system address for the high-reliability of data storage. During the full-load test, the throughput of 3D PLUS Module 160Gb Nand Flash can reach 120Mbps for store and reach 120Mbps for playback, which efficiently satisfies the requirement of multi-channel data acquisition in Satellite. Compared with previous literature, the results of experiments verify the advantages of the proposed system.

Keywords: device partition architecture, intra-channel pipelining, nand flash, parallel storage

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Authors: Awais Naeem, Osama Shakeel, Aamir Ali Syed, Shahid Khattak

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Introduction: Laparoscopic right hemicolectomy is an advanced cancer surgery in today's era. The aim of this study was to evaluate the surgical and initial oncological outcomes after curative, laparoscopic resection of right sided colonic tumors. Also to compare our results with those of previous randomized trials. Methods And Procedures: We retrospectively analyzed the medical record files of all the patients who presented to our hospital with the diagnosis of right sided colon carcinoma from January 2012 to December 2017 and underwent laparoscopic right hemicolectomy. Demographics, operative findings and histopathological reports were all recorded on a preformed data sheet. All the analysis was performed on SPSS 20. Results: Total of 48 patients were included. There were 37 male and 11 female patients with mean age of 49.7 (range from 25 – 82). Mean hospital stay was 8.25 ± 3.17 days. Blood loss was 80mls and operative mean time was 240 minutes. Eighteen patients had extended right hemicolectomy. Median length of the specimen retrieved was 31cm (range, 14-59cm). Mean size of tumor was 6.44cm + 2.53. Total number of lymph nodes removed was 20.5 + 8.3. All had R0 resection. Post-operatively 2 patients had pelvic collection and there was no 30 day mortality. In 33 patients there was T3 disease, 5 had T2 and 10 had T4 disease. There was distant recurrence in 4 patients with peritoneal metastasis in 3 and liver metastasis in 1 patient. Forty-six patients are still alive and 44 are disease free. The mean follow-up period was 25.31 (12 to 60) months. Conclusion: Our early experience with Laparascopic Right hemicolectomy as a safe and oncologically feasible surgical option. We attained comparable surgical results with curative intent.

Keywords: right hemicolectomy, right sided colonic tumors, laparoscopic, curative intent

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Authors: Warunpun Kongsom, Chaiwat Kongsom

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The objective of this study was to investigate the awareness, knowledge and consumer behavior towards organic products in Thailand. For this study, a purposive sampling technique was used to identify a sample group of 2,575 consumers over the age of 20 years who intended or made purchases from 1) green shops; 2) supermarkets with branches; and, 3) green markets. A questionnaire was used for data collection across the country. Descriptive statistics were used for data analysis. The results showed that more than 92% of consumers were aware of organic agriculture, but had less knowledge about it. More than 60% of consumers knew that organic agriculture production and processing did not allow the use of chemicals. And about 40% of consumers were confused between the food safety logo and the certified organic logo, and whether GMO was allowed in organic agriculture practice or not. In addition, most consumers perceived that organic agricultural products, good agricultural practice (GAP) products, agricultural chemicals free products, and hydroponic vegetable products had the same standard. In the view of organic consumers, the organic Thailand label was the most seen and reliable among various organic labels. Less than 3% of consumers thought that the International Federation of Organic Agriculture Movements (IFOAM) Global Organic Mark (GOM) was the most seen and reliable. For the behaviors of organic consumers, they purchased organic products mainly at the supermarket and green shop (55.4%), one to two times per month, and with a total expenditure of about 200 to 400 baht each time. The main reason for buying organic products was safety and free from agricultural chemicals. The considered factors in organic product selection were price (29.5%), convenience (22.4%), and a reliable certification system (21.3%). The demands for organic products were mainly rice, vegetables and fruits. Processed organic products were relatively small in quantity.

Keywords: consumer behavior, consumer knowledge, organic products, Thailand

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Authors: Zixuan Zhao, Lingbin Du, Le Wang, Youqing Wang, Yi Yang, Jingjun Chen, Hengjin Dong

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Objectives: Few results from public attitudes for lung cancer screening are available both in China and abroad. This study aimed to identify preferred lung cancer screening modalities in a Chinese population and predict uptake rates of different modalities. Materials and Methods: A discrete choice experiment questionnaire was administered to 392 Chinese individuals aged 50–74 years who were at high risk for lung cancer. Each choice set had two lung screening options and an option to opt-out, and respondents were asked to choose the most preferred one. Both mixed logit analysis and stepwise logistic analysis were conducted to explore whether preferences were related to respondent characteristics and identify which kinds of respondents were more likely to opt out of any screening. Results: On mixed logit analysis, attributes that were predictive of choice at 1% level of statistical significance included the screening interval, screening venue, and out-of-pocket costs. The preferred screening modality seemed to be screening by low-dose computed tomography (LDCT) + blood test once a year in a general hospital at a cost of RMB 50; this could increase the uptake rate by 0.40 compared to the baseline setting. On stepwise logistic regression, those with no endowment insurance were more likely to opt out; those who were older and housewives/househusbands, and those with a health check habit and with commercial endowment insurance were less likely to opt out from a screening programme. Conclusions: There was considerable variance between real risk and self-perceived risk of lung cancer among respondents, and further research is required in this area. Lung cancer screening uptake can be increased by offering various screening modalities, so as to help policymakers further design the screening modality.

Keywords: lung cancer, screening, China., discrete choice experiment

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Authors: Touhami Tahenni

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Excessively wide cracks are harmful to the serviceability of reinforced concrete (RC) beams and may lead to durability problems in the longer term. They also reduce the rigidity of RC sections, rendering the tensile concrete ineffective structurally. To reduce the negative effects of cracks, steel fibers are added to concrete mixes in the same manner as aggregates. In the present work, steel fibers reinforced concrete (SFRC) beams, made of normal strength and high strength concretes, were tested in a four-point bending test using a digital image correlation technique. The beams had different volume fractions of fibres and different aspect ratios (fiber length/fiber diameter). The evaluation of flexural cracking widths was determined using Gom-Aramis software. The experimental crack widths were compared with theoretical values predicted by the technical document of Rilem TC 162-TDF. The model proposed in this document seems to be the only one that considers the efficiency of steel fibres in restraining the crack widths. However, the model of Rilem takes into account only the aspect ratio of steel fibres to predict the crack width of SFRC beams. It has been reported in several pieces of research that the contribution of steel fibres to the limitation of flexural cracking widths is based on three essential parameters namely, the volume fraction, the orientation and the aspect ratio of fibres. Referring to the literature on the flexural cracking behavior of SFRC beams and the experimental observations of the present work, a correction of the Rilem model by the introduction of these parameters in the formula is proposed. The crack widths predicted by the new empirical model were compared with the experimental results and assessed against other test data on SFRC beams taken from the literature. The modified Rilem model gives better results and is found more satisfactory in predicting the crack widths of fibres concrete.

Keywords: stee fibres, reinforced concrete, flexural cracking, tensile strength, crack width

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Authors: M. Louise Humbert, Karen E. Chad, Natalie E. Houser, Marta E. Erlandson

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Physical literacy is the motivation, confidence, physical competence, knowledge, and understanding to value and takes responsibility for engagement in physical activities for life. In recent years, physical literacy has emerged as a determinant of health, promoting a positive lifelong physical activity trajectory. Physical literacy’s holistic approach and emphasis on the intrinsic valuation of movement provide an encouraging avenue for intervention among children to develop competent and confident movers. Although there is research on physical literacy interventions, no evidence exists on the outcomes of multi-sectoral interventions involving a combination of home, school, and community contexts. Since children interact with and in a wide range of contexts (home, school, community) daily, interventions designed to address a combination of these contexts are critical to the development of physical literacy. Working with school administrators and teachers, sports and recreation leaders, and community members, our team of university and community researchers conducted and evaluated one of the first multi-contextual and multi-sectoral physical literacy interventions in Canada. Schools played a critical role in this multi-sector intervention, and in this project, teachers and administrators focused their actions on developing physical literacy in students 10 to 14 years of age through the instruction of physical literacy-focused physical education lessons. Little is known about the experiences of educators when they work alongside an array of community representatives to develop physical literacy in school-aged children. Given the uniqueness of this intervention, we sought to answer the question, ‘What were the experiences of school-based educators involved in a multi-sectoral partnership focused on creating a physical literacy enriched community intervention?’ A thematic analysis approach was used to analyze data collected from interviews with educators and administrators, informal conversations, documents, and observations at workshops and meetings. Results indicated that schools and educators played the largest role in this multi-sector intervention. Educators initially reported a limited understanding of physical literacy and expressed a need for resources linked to the physical education curriculum. Some anxiety was expressed by the teachers as their students were measured, and educators noted they wanted to increase their understanding and become more involved in the assessment of physical literacy. Teachers reported that the intervention’s focus on physical literacy positively impacted the scheduling and their instruction of physical education. Administrators shared their desire for school and division-level actions targeting physical literacy development like the current focus on numeracy and literacy, treaty education, and safe schools. As this was one of the first multi-contextual and multi-sectoral physical literacy interventions, it was important to document creation and delivery experiences to encourage future growth in the area and develop suggested best practices.

Keywords: physical literacy, multi sector intervention, physical education, teachers

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Authors: Andrius Suminas

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Editors-in-chief and members of editorial boards of scientific journals play an extremely important role in the development of science and assure research integrity, as scientific publications are the major results of research. While gender parity in tenure-track hiring decisions and promotion rates has improved, female academics remain underrepresented in senior career phases, including editors-in-chief and members of editorial boards positions of scientific journals. Journal editors and members of editorial boards exert considerable power over what is published and in certain cases the direction of an academic discipline and the career advancement of authors. For this reason it is important to minimize biases extrinsic to the merit of the work impacting publication decisions. One way to achieve this is to ensure a diverse pool of editors and members of editorial boards, ensuring the widest possible coverage of different competencies. This is in line with a diversity model of editorial appointment where editorial boards are structured to dismantle wider conditions of inequality. Another possible option, a distributive model would seek an editorial board reflective of existing proportions in the field at large. Paper presents comprehensive results of Lithuanian scientific journals study. During the research process were reviewed publicly available information from all scientific journals published in Lithuania to infer the proportions of members of editorial boards by gender and country of affiliation. The results of the study revealed differences the proportions of male and female members of editorial boards in different disciplines of science, as well as clear geographical disparity in Lithianian scientific journals editorial boards.

Keywords: scientific journals, editorial boards of scientific journals, gender disparity, geographical disparity, scientific communication

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Authors: Abara Onu, Augustine Mina Ephraim, Emmanuel Teidi

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Terrorism has been a major challenge and is so dare to the Nigerian government in recent times. The actions and activities of the Islamic sect known as Boko Haram had led to enormous loss of lives and properties in the country, mostly the Northern part of Nigeria. Some of these activities entails bombings, suicide attacks, intimidations, sporadic gunfire of the unarmed, blameless and innocent Nigerians, burning of police stations and churches, kidnappings, raping of school girls and women. Nigeria has also been included amongst one of the terrorist countries of the world. This has serious implications for the development of Nigerian economy. Although, Nigeria had made several worried hard work to deal with these challenges masqueraded by terrorism and insecurity in the country but the rate of insurgency and insecurity is still worrisome. The study looks at exploring the determinants of Boko Haram terrorism in Nigerian security systems and economy. Data used for the study work was from questionnaire administered, using Analysis of Variance (ANOVA) method to analyse the data. The result shows that Ideology and funding are significant basic factors that propelled the Boko Haram group in Nigeria. The Boko Haram disaster poses a significant threat to Nigeria’s economy and the military is the best option and solution in tackling the Boko Haram menace in Nigeria. The work x-rayed the following recommendations; government should declare war on terrorism and as well seek support and cooperation from international communities who in time or the other might have faced with this kind ugly experience and challenge and were able to tackle it. Nigerian Military needs to be more empowered with high dangerous weapons to combat the insurgency as well as beef up security across the Country to curb the threats.

Keywords: terrorism, economy, Boko Haram, Nigeria

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