Search results for: nitrogen content and stock

Authors: Tatsuhiko Aizawa, Yohei Suzuki, Tomomi Shiratori

Abstract:

The austenitic stainless steel type AISI316 has been widely utilized as structural members and mold die substrates. The low temperature plasma nitriding has been utilized to harden these AISI316 members, parts, and dies without loss of intrinsic corrosion resistance to AISI316 stainless steels. Formation of CrN precipitates by normal plasma nitriding processes resulted in severe deterioration of corrosion toughness. Most previous studies on this low temperature nitriding of AISI316 only described the lattice expansion of original AISI316 lattices by the occupation of nitrogen interstitial solutes into octahedral vacancy sites, the significant hardening by nitrogen solid solution, and the enhancement of corrosion toughness. In addition to those engineering items, this low temperature nitriding process was characterized by the nitrogen supersaturation and nitrogen diffusion processes. The nitrogen supersaturated zones expanded by the nitrogen solute occupation to octahedral vacancy sites, and the un-nitrided surroundings to these zones were plastically strained to compensate for the mismatch strains across these nitrided and nitrided zones. The microstructure of nitrided AISI316 was refined by this plastic straining. The nitrogen diffusion process was enhanced to transport nitrogen solute atoms through the refined zone boundaries. This synergetic collaboration among the nitrogen supersaturation, the lattice expansion, the plastic straining, and the grain refinement yielded a thick nitrogen supersaturated layer. This synergetic relation was also characterized by the multilevel two-phase structuring. In XRD (X-Ray Diffraction) analysis, the nitrided AISI316 layer had - and -phases with the peak shifts from original lattices. After EBSD (Electron Back Scattering Diffraction) analysis, -grains and -grains homogeneously distributed in the nitrided layer. The scanning transmission electron microscopy (STEM) revealed that g-phase zone is N-poor cluster and a-phase zone is N-rich cluster. This proves that nitrogen supersaturated AISI316 stainless steels have multi-level two-phase structure in a very fine granular system.

Keywords: AISI316 stainless steels, chemical affinity to nitrogen solutes, multi-level two-phase structuring, nitrogen supersaturation

Procedia PDF Downloads 84

Authors: Ene Rosemary Ndidiamaka, Nwangwu Florence Chinyere

Abstract:

The physiochemical properties of the melon seed oil was studied to determine its potentials as viable feed stock for biodisel production. The melon seed was extracted by solvent extraction using n-hexane as the extracting solvent. In this research, methanol was the alcohol used in the production of biodiesel, although alcohols like ethanol, propanol may also be used. Sodium hydroxide was employed for the catalysis. The melon seed oil was characterized for specific gravity, pH, ash content, iodine value, acid value, saponification value, peroxide value, free fatty acid value, flash point, viscosity, and refractive index using standard methods. The melon seed oil had very high oil content. Specific gravity and flash point of the oil is satisfactory. However, moisture content of the oil exceeded the stipulated ASRTM standard for biodiesel production. The overall results indicates that the melon seed oil is suitable for single-stage transesterification process to biodiesel production.

Keywords: biodiesel, catalyst, melon seed, transesterification

Procedia PDF Downloads 343

Authors: Tchapo Tchaga Sophia, Cai Chun

Abstract:

This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.

Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price

Procedia PDF Downloads 42

Authors: Torchane Lazhar

Abstract:

In this work, our task consists in optimizing the nitriding treatment at low-temperature of the steel 32CrMoV13 by the way of the mixtures of ammonia gas, nitrogen and hydrogen to improve the mechanical properties of the surface (good wear resistance, friction and corrosion), and of the diffusion layer of the nitrogen (good resistance to fatigue and good tenacity with heart). By limiting our work to the pure iron and to the alloys iron-chromium and iron-chrome-carbon, we have studied the various parameters which manage the nitriding: flow rate and composition of the gaseous phase, the interaction chromium-nitrogen and chromium-carbon by the help of experiments of nitriding realized in the laboratory by thermogravimetry. The acquired knowledge have been applied by the mastery of the growth of the combination layer on the diffusion layer in the case of the industrial steel 32CrMoV13.

Keywords: diffusion of nitrogen, gaseous nitriding, layer growth kinetic, steel

Procedia PDF Downloads 391

Authors: Alireza Vakili, Shahab Ehtesham, Mohsen Danesh Mesgaran, Mahdi Paktinat

Abstract:

The goal of this study is to determine the chemical compounds of brown Iranian propolis(BIP) extracts and to show flavonoids and phenol effects on nitrogen ammonia (NH3-N) in in vitro. Experimental samples were including two diets with different concentrate: forage ratio (80:20 and 60:40) with eight treatments (1:Control diet 60:40 without BIP,2: 60:40 diet with 25% BIP, 3:60:40 diet with 50% BIP, 4: 60:40 diet with 75% BIP,5: Control diet 80:20 without BIP,6: 80:20 diet with 25% BIP,7: 80:20 diet with 50% BIP and 8: 80:20 diet with 75% BIP) and eight repeats. The trial was analyzed considering a completely randomized design by the GLM procedure of SAS 9.1. Means among treatment were compared by Tukey test. The results of this study showed that in food with 80:20 (concentrate: forage), adding BIP 25% did not statistically change NH3-N (p > 0.05) compared to the control treatment but there was a significant difference (p < 0.05) between the effect of BIP 50% on NH3-N compared to the BIP 25% and the control. In diet with 60:40 (concentrate: forage), there was no significant difference between the effect of BIP 25% on NH3-N and the control, nor was there a significant difference between the effect of BIP 50% and 75%, while a significant difference (p < 0.05) between BIP 50% and 75% and the rest was observed. The propolis extract makes nitrogen ammonia decrease. This may help the nitrogen retain longer in ruminants.

Keywords: brown Iranian propolis, in vitro, nitrogen ammonia, ruminant

Procedia PDF Downloads 454

Authors: Tatiana A. Kuznetsova, Maxim V. Vechersky, Natalia V. Kostina, Marat M. Umarov, Elena I. Naumova

Abstract:

One of the main problems of nutrition of phytophagous animals is the insufficiency of protein in their forage. Usually, symbiotic microorganisms highly contribute both to carbohydrates and nitrogen compounds of the food. But it is not easy to utilize microbial biomass in the large intestine and caecum for the animals with hindgut fermentation. So that, some animals, as well hares, developed special mechanism of contribution of such biomass - obligate autocoprophagy, or reingestion. Hares have two types of feces - the hard and the soft. Hard feces are excreted at night, while hares are vigilance ("foraging period"), and the soft ones (caecotrophs) are produced and reingested in the day-time during hares "resting-period". We examine the role of microbial digestion in providing nitrogen nutrition of hare (Lepus europaeus). We determine the ability of nitrogen fixation in fornix and stomach body, small intestine, caecum and colon of hares' gastro-intestinal tract in two main period of hares activity - "resting-period" (day time) and "foraging period" (late-evening and very-early-morning). We use gas chromatography to measure levels of nitrogen fixing activity (acetylene reduction). Nitrogen fixing activity was detected in the contents of all analyzed parts of the gastrointestinal tract. Maximum values were recorded in the large intestine. Also daily dynamics of the process was detected. Thus, during hare “resting-period” (caecotrophs formation) N2-fixing activity was significantly higher than during “foraging period”, reaching 0,3 nmol C2H4/g*h. N2-fixing activity in the gastrointestinal tract can allocate to significant contribution of nitrogen fixers to microbial digestion in hare and confirms the importance of coprophagy as a nitrogen source in lagomorphs.

Keywords: coprophagy, gastrointestinal tract, lagomorphs, nitrogen fixation

Procedia PDF Downloads 336

Authors: Nidhal Mgadmi, Abdelhafidh Othmani

Abstract:

This article examines the causal relationship between stock indices and cryptocurrencies during the current war between Russia and Ukraine. The econometric investigation runs from February 24, 2022, to April 12, 2023, focusing on seven stock market indices (S&P500, DAX, CAC40, Nikkei, TSX, MOEX, and PFTS) and seven cryptocurrencies (Bitcoin, Ethereum, Litcoin, Dash, Ripple, DigiByte and XEM). In this article, we try to understand how investors react to fluctuations in financial assets to seek safe havens in cryptocurrencies. We used dynamic causality to detect a possible causal relationship in the short term and seven models to estimate the long-term relationship between cryptocurrencies and financial assets. The causal relationship between financial market indexes and cryptocurrency coins in the short run indicates that three famous cryptocurrencies (BITCOIN, ETHEREUM, RIPPLE) and the two digital assets with minor popularity (XEM, Digibyte) are impacted by the German, Russian, and Ukrainian stock markets. In the long run, we found a positive and significate effect of the American, Canadian, French, and Ukrainian stock market indexes on Bitcoin. Thus, the stability of the traditional financial markets during the current war period can be explained on the one hand by investors’ fears of an unstable business climate, and on the other hand, by speculators’ sentiment towards new electronic products, which are perceived as hedging instruments and a safe haven in the face of the conflict between Ukraine and Russia.

Keywords: causality, stock indices, cryptocurrency, war, Russia, Ukraine

Procedia PDF Downloads 51

Authors: Kaiyi Zhang, Wenlong Li, Haicheng Li, Yifei Luo, Zheng Li, Xiaoshi Wang, Xiaodong Chen

Abstract:

Plant wearable sensors facilitate the real-time monitoring of plant physiological status. In situ monitoring of the plant chlorophyll content over days could provide valuable information on the photosynthetic capacity, nitrogen content, and general plant health. However, it cannot be achieved by current chlorophyll measuring methods. Here, a miniaturized and plant-wearable chlorophyll meter was developed for rapid, non-destructive, in situ, and long-term chlorophyll monitoring. This reflectance-based chlorophyll sensor with 1.5 mm thickness and 0.2 g weight (1000 times lighter than the commercial chlorophyll meter), includes a light emitting diode (LED) and two symmetric photodetectors (PDs) on a flexible substrate and is patched onto the leaf upper epidermis with a conformal light guiding layer. A chlorophyll content index (CCI) calculated based on this sensor shows a better linear relationship with the leaf chlorophyll content (r² > 0.9) than the traditional chlorophyll meter. This meter can wirelessly communicate with a smartphone to monitor the leaf chlorophyll change under various stresses and indicate the unhealthy status of plants for long-term application of plants under various stresses earlier than chlorophyll meter and naked-eye observation. This wearable chlorophyll sensing patch is promising in smart and precision agriculture.

Keywords: plant wearable sensors, reflectance-based measurements, chlorophyll content monitoring, smart agriculture

Procedia PDF Downloads 88

Authors: Ming-Chien Su, Yi-Zih Chen, Nien-Hsin Kao, Hideaki Shibata

Abstract:

The major component of the atmosphere is nitrogen, yet atmospheric nitrogen has limited availability for biological use. Human activities have produced different types of nitrogen related compounds such as nitrogen oxides from combustion, nitrogen fertilizers from farming, and the nitrogen compounds from waste and wastewater, all of which have impacted the environment. Many studies have indicated the N-footprint is dominated by food, followed by housing, transportation, and goods and services sectors. To solve the impact issues from agricultural land, nitrogen cycle research is one of the key solutions. The study site is located in Hualien County, Taiwan, a major rice and food production area of Taiwan. Importantly, environmentally friendly farming has been promoted for years, and an environmental indicator system has been established by previous authors based on the concept of resilience capacity index (RCI) and environmental performance index (EPI). Nitrogen management is required for food production, as excess N causes environmental pollution. Therefore it is very important to develop a roadmap of the nitrogen footprint, and to integrate it with environmental indicators. The key focus of the study thus addresses (1) understanding the environmental impact caused by the nitrogen cycle of food products and (2) uncovering the trend of the N-footprint of agricultural products in Hualien, Taiwan. The N-footprint model was applied, which included both crops and energy consumption in the area. All data were adapted from government statistics databases and crosschecked for consistency before modeling. The actions involved with agricultural production were evaluated and analyzed for nitrogen loss to the environment, as well as measuring the impacts to humans and the environment. The results showed that rice makes up the largest share of agricultural production by weight, at 80%. The dominant meat production is pork (52%) and poultry (40%); fish and seafood were at similar levels to pork production. The average per capita food consumption in Taiwan is 2643.38 kcal capita−1 d−1, primarily from rice (430.58 kcal), meats (184.93 kcal) and wheat (ca. 356.44 kcal). The average protein uptake is 87.34 g capita−1 d−1, and 51% is mainly from meat, milk, and eggs. The preliminary results showed that the nitrogen footprint of food production is 34 kg N per capita per year, congruent with the results of Shibata et al. (2014) for Japan. These results provide a better understanding of the nitrogen demand and loss in the environment, and the roadmap can furthermore support the establishment of nitrogen policy and strategy. Additionally, the results serve to develop a roadmap of the nitrogen cycle of an environmentally friendly farming area, thus illuminating the nitrogen demand and loss of such areas.

Keywords: agriculture productions, energy consumption, environmental indicator, nitrogen footprint

Procedia PDF Downloads 281

Authors: Seyed Ali Mohammad, Modarres Sanavy, Hamed Keshavarz, Ali Mokhtassi-Bidgoli

Abstract:

One of the biggest challenges for the current and future generations is to produce sufficient food for the world population with the existing limited available water resources. Peppermint is a specialty crop used for food and medicinal purposes. Its main component is menthol. It is used predominantly for oral hygiene, pharmaceuticals, and foods. Although drought stress is considered as a negative factor in agriculture, being responsible for severe yield losses; medicinal plants grown under semi-arid conditions usually produce higher concentrations of active substances than same species grown under moderate climates. Nitrogen (N) fertilizer management is central to the profitability and sustainability of forage crop production. Sub-optimal N supply will result in poor yields, and excess N application can lead to nitrate leaching and environmental pollution. In order to determine the response of peppermint to drought stress and different fertilizer treatments, a field experiment with peppermint was conducted in a sandy loam soil at a site of the Tarbiat Modares University, Agriculture Faculty, Tehran, Iran. The experiment used a complete randomized block design, with six rates of fertilizer strategies (F1: control, F2: Urea, F3: 75% urea + 25% vermicompost, F4: 50% urea + 50% vermicompost, F5: 25% urea + 75% vermicompost and F6: vermicompost) and three irrigation regime (S1: 45%, S2: 60% and S3: 75% FC) with three replication. The traits such as nitrogen, chlorophyll, carotenoids, anthocyanin, flavonoid and fresh biomass were studied. The results showed that the treatments had a significant effect on the studied traits as drought stress reduced photosynthetic pigment concentration. Also, drought stress reduced fresh yield of peppermint. Non stress condition had the greater amount of chlorophyll and fresh yield more than other irrigation treatments. The highest concentration of chlorophyll and the fresh biomass was obtained in F2 fertilizing treatments. Sever water stress (S1) produced decreased photosynthetic pigment content fresh yield of peppermint. Supply of N could improve photosynthetic capacity by enhancing photosynthetic pigment content. Perhaps application of vermicompost significantly improved the organic carbon, available N, P and K content in soil over urea fertilization alone. To get sustainable production of peppermint, application of vermicompost along with N through synthetic fertilizer is recommended for light textured sandy loam soils.

Keywords: fresh yield, peppermint, synthetic nitrogen, vermicompost, water stress

Procedia PDF Downloads 199

Authors: Mirnawati, Gita Ciptaan, Ferawati

Abstract:

Background and Objective: Palm kernel cake (PKC) is a waste of the palm oil industry. Indonesia, as the largest palm oil producer in the world, produced 45-46% palm kernel cake. Palm kernel cake can potentially be used as animal ration but its utilization for poultry is limited. Thus, fermentation process was done in order to increase the utilization PKC in poultry ration. An experiment was conducted to study the effect between Inoculum Doses with Bacillus subtilis and fermentation time to improve the quality and nutrient content of fermented Palm Kernel Cake. Material and Methods: 1) Palm kernel cake derived from Palm Kernel Processing Manufacture of Andalas Agro Industry in Pasaman, West Sumatra. 2) Bacillus subtilis obtained from The Research Center of Applied Chemistry LIPI, Bogor. 3) Preparations nutrient agar medium (NA) produced by Difoo - Becton Dickinson. 4) Rice bran 5) Aquades and mineral standard. The experiment used completely randomize design (CRD) with 3 x 3 factorial and 3 replications. The first factors were three doses of inoculum Bacillus subtilis: (3%), (5%), and (7%). The second factor was fermentation time: (1) 2 day, (2) 4 day, and (3) 6 day. The parameters were crude protein, crude fiber, nitrogen retention, and crude fiber digestibility of fermented palm kernel cake (FPKC). Results: The result of the study showed that there was significant interaction (P<0.01) between factor A and factor B and each factor A and B also showed significant effect (P<0.01) on crude protein, crude fiber, nitrogen retention, and crude fiber digestibility. Conclusion: From this study, it can be concluded that fermented PKC with 7% doses of Bacillus subtilis and 6 days fermentation time provides the best result as seen from 24.65% crude protein, 17.35% crude fiber, 68.47% nitrogen retention, 53.25% crude fiber digestibility of fermented palm kernel cake (FPKC).

Keywords: fermentation, Bacillus Subtilis, inoculum, palm kernel cake, quality, nutrient

Procedia PDF Downloads 185

Authors: A. Volperts, G. Dobele, A. Zhurinsh, I. Kruusenberg, A. Plavniece, J. Locs

Abstract:

Nowadays energy consumption constantly increases and development of effective and cheap electrochemical sources of power, such as fuel cells and electrochemical capacitors, is topical. Due to their high specific power, charge and discharge rates, working lifetime supercapacitor based energy accumulation systems are more and more extensively being used in mobile and stationary devices. Lignocellulosic materials are widely used as precursors and account for around 45% of the total raw materials used for the manufacture of activated carbon which is the most suitable material for supercapacitors. First part of our research is devoted to study of influence of main stages of wood thermochemical activation parameters on activated carbons porous structure formation. It was found that the main factors governing the properties of carbon materials are specific surface area, volume and pore size distribution, particles dispersity, ash content and oxygen containing groups content. Influence of activated carbons attributes on capacitance and working properties of supercapacitor are demonstrated. The correlation between activated carbons porous structure indices and electrochemical specifications of supercapacitors with electrodes made from these materials has been determined. It is shown that if synthesized activated carbons are used in supercapacitors then high specific capacitances can be reached – more than 380 F/g in 4.9M sulfuric acid based electrolytes and more than 170 F/g in 1 M tetraethylammonium tetrafluoroborate in acetonitrile electrolyte. Power specifications and minimal price of H₂-O₂ fuel cells are limited by the expensive platinum-based catalysts. The main direction in development of non-platinum catalysts for the oxygen reduction is the study of cheap porous carbonaceous materials which can be obtained by the pyrolysis of polymers including renewable biomass. It is known that nitrogen atoms in carbon materials to a high degree determine properties of the doped activated carbons, such as high electrochemical stability, hardness, electric resistance, etc. The lack of sufficient knowledge on the doping of the carbon materials calls for the ongoing researches of properties and structure of modified carbon matrix. In the second part of this study, highly porous activated carbons were synthesized using alkali thermochemical activation from wood, cellulose and cellulose production residues – craft lignin and sewage sludge. Activated carbon samples were doped with dicyandiamide and melamine for the application as fuel cell cathodes. Conditions of nitrogen introduction (solvent, treatment temperature) and its content in the carbonaceous material, as well as porous structure characteristics, such as specific surface and pore size distribution, were studied. It was found that efficiency of doping reaction depends on the elemental oxygen content in the activated carbon. Relationships between nitrogen content, porous structure characteristics and electrodes electrochemical properties are demonstrated.

Keywords: activated carbons, low-temperature fuel cells, nitrogen doping, porous structure, supercapacitors

Procedia PDF Downloads 102

Authors: Hasan Basri Jumin

Abstract:

Using the slaughterhouse waste combined to suitable dose of nitrogen fertilizer to Apium glaviolen gives the significant effect to mean relative growth rate. The same pattern also showed significantly in net assimilation rate. The net assimilation rate increased significantly during 42 days old plants. Combination of treatment of 100 ml/l animal slaughterhouse waste and 0.1 g/kg nitrogen fertilizer/kg soil increased the vegetative growth of Apium glaviolens. The biomass of plant and mean relative growth rate of Apium glaviolens were rapidly increased in 4 weeks after planting and gradually decreased after 35 days at the harvest time. Combination of 100 ml/l slaughterhouse waste and applied 0.1 g/kg nitrogen fertilizer has increased all parameters. The highest vegetative growth, biomass, mean relative growth rate and net assimilation rate were received from 0.56 mg-l.m-2.days-1.

Keywords: Apium glaviolent, nitrogen, pollutant, slaughterhouse, waste

Procedia PDF Downloads 343

Authors: Mohammad Irfan

Abstract:

The purpose of this paper is to investigate the relationship among the key macroeconomic variables and Islamic stock market in India. This study is based on the time series data of financial years 2009-2015 to explore the consistency of relationship between macroeconomic variables and Shariah Indices. The ADF (Augmented Dickey–Fuller Test Statistic) and PP (Phillips–Perron Test Statistic) tests are employed to check stationarity of the data. The study depicts the long run relationship between Shariah indices and macroeconomic variables by using the Johansen Co-integration test. BSE Shariah and Nifty Shariah have uni-direct Granger causality. The outcome of VECM is significantly confirming the applicability of best fitted model. Thus, Islamic stock indices are proficiently working for the development of Indian economy. It suggests that by keeping eyes on Islamic stock market which will be more interactive in the future with other macroeconomic variables.

Keywords: Indian Shariah Indices, macroeconomic variables, co-integration, Granger causality, vector error correction model (VECM)

Procedia PDF Downloads 262

Authors: Katleho Daniel Makatjane, Diteboho Lawrence Xaba, Ntebogang Dinah Moroke

Abstract:

The current study investigates the behaviour of time-varying parameters that are based on the score function of the predictive model density at time t. The mechanism to update the parameters over time is the scaled score of the likelihood function. The results revealed that there is high persistence of time-varying, as the location parameter is higher and the skewness parameter implied the departure of scale parameter from the normality with the unconditional parameter as 1.5. The results also revealed that there is a perseverance of the leptokurtic behaviour in stock returns which implies the returns are heavily tailed. Prior to model estimation, the White Neural Network test exposed that the stock price can be modelled by a GAS model. Finally, we proposed further researches specifically to model the existence of time-varying parameters with a more detailed model that encounters the heavy tail distribution of the series and computes the risk measure associated with the returns.

Keywords: generalized autoregressive score model, South Africa, stock returns, time-varying

Procedia PDF Downloads 481

Authors: Chih-Hsiang Chang, Pei-Shan Kao

Abstract:

This paper discusses the reaction of investors in the Taiwan stock market to the most probable unknown earnings-related information and the most probable known earnings-related information. As compared with the previous literature regarding the effect of an official announcement of earnings forecast revision, this paper further analyzes investors’ cognitive bias toward the unknown and known earnings-related information, and the role of media during the investors' reactions to the foresaid information shocks. The empirical results show that both the unknown and known earnings-related information provides useful information content for a stock market. In addition, cognitive bias and disposition effect are the behavioral pitfalls that commonly occur in the process of the investors' reactions to the earnings-related information. Finally, media coverage has a remarkable influence upon the investors' trading decisions.

Keywords: cognitive bias, role of media, disposition effect, earnings-related information, behavioral pitfall

Procedia PDF Downloads 204

Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid

Abstract:

This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.

Keywords: asymmetric information, capital inflow, market microstructure, investment

Procedia PDF Downloads 298

Authors: Mojtaba Esmaeilzad Limoudehi

Abstract:

To evaluate the model ORYZA2000, under the management of irrigation and nitrogen fertilization experiment, a split plot with a randomized complete block design with three replications on hybrid cultivars (spring) in the 1388-1387 crop year was conducted at the Rice Research Institute. Permanent flood irrigation as the main plot in the fourth level, around 5 days, from 11 days to 8 days away, and the four levels of nitrogen fertilizer as the subplots 0, 90, 120, and 150 kg N Ha were considered. Simulated and measured values of leaf area index, grain yield, and biological parameters using the regression coefficient, t-test, the root mean square error (RMSE), and normalized root mean square error (RMSEn) were performed. Results, the normalized root mean square error of 10% in grain yield, the biological yield of 9%, and 23% of maximum LAI was determined. The simulation results show that grain yield and biological ORYZA2000 model accuracy are good but do not simulate maximum LAI well. The results show that the model can support ORYZA2000 test results and can be used under conditions of nitrogen fertilizer and irrigation management.

Keywords: evaluation, rice, nitrogen fertilizer, model ORYZA2000

Procedia PDF Downloads 49

Authors: A. Miškinytė, A. Dėdelė

Abstract:

Road traffic is one of the main sources of air pollution in urban areas associated with adverse effects on human health and environment. Nitrogen dioxide (NO2) is considered as traffic-related air pollutant, which concentrations tend to be higher near highways, along busy roads and in city centres and exceedances are mainly observed in air quality monitoring stations located close to traffic. Atmospheric dispersion models can be used to examine emissions from many various sources and to predict the concentration of pollutants emitted from these sources into the atmosphere. The study aim was to compare modelled concentrations of nitrogen dioxide using ADMS-Urban dispersion model with air quality monitoring network in cold and warm seasons in Kaunas city. Modelled average seasonal concentrations of nitrogen dioxide for 2011 year have been verified with automatic air quality monitoring data from two stations in the city. Traffic station is located near high traffic street in industrial district and background station far away from the main sources of nitrogen dioxide pollution. The modelling results showed that the highest nitrogen dioxide concentration was modelled and measured in station located near intensive traffic street, both in cold and warm seasons. Modelled and measured nitrogen dioxide concentration was respectively 25.7 and 25.2 µg/m3 in cold season and 15.5 and 17.7 µg/m3 in warm season. While the lowest modelled and measured NO2 concentration was determined in background monitoring station, respectively 12.2 and 13.3 µg/m3 in cold season and 6.1 and 7.6 µg/m3 in warm season. The difference between monitoring station located near high traffic street and background monitoring station showed that better agreement between modelled and measured NO2 concentration was observed at traffic monitoring station.

Keywords: air pollution, nitrogen dioxide, modelling, ADMS-Urban model

Procedia PDF Downloads 390

Authors: Marzieh Joda, Narges Fallah, Neda Afsham

Abstract:

Graphite-supported two different of morphology α and β -Ni (OH)₂ electrodes were prepared by electrochemical deposition at appropriate potentials with regard to Ni (II)/Ni (III) redox couple under alkaline and acidic conditions, respectively, for selective oxidation of ammonia to nitrogen in the direct electro-oxidation process. Cyclic voltammetry (CV) of the electrolyte containing NH₃ indicated mediation of electron transfer by Ni (OH)₂ and the electrode surface was analyzed by X-ray diffraction (XRD), scanning electron microscope (SEM), Raman spectrometer (RS), and X-ray photoelectron spectroscopy (XPS). Results of surface characterization indicated the presence of α polymorphs which is the stable phase of Ni (OH)₂ /Graphite. Cyclic voltammograms gave information on the nature of electron transfer between nitrogen species and working electrode and revealed that the potential has depended on both nature ammonia oxidation and that of concentration. The mechanism of selective ammonia conversion to nitrogen and byproducts, namely NO₂- and NO₃- was established by Cyclic voltammograms and current efficiency. The removal efficiency and selective conversion of ammonia (0.1 M KNO₃ + 0.01 M Ni(NO₃)₂, pH 11, 250°C) on Nickel Oxide-hydroxide /Graphite was determined based on potential controlled experiments.

Keywords: Electro deposition, Nickel oxide-hydroxide, Nitrogen selectivity, Ammonia oxidation

Procedia PDF Downloads 194

Authors: Almoutassem Bellah Nasser

Abstract:

This paper is aimed at calculating the intangible assets of Jordanian economy. This effort is a response to the demand from corporations for these services which reflects a perceived gap in internal and external financial reporting on intangible investments. The main conclusion of the paper is to suggest that the way forward to a standardized, more comparable approach to measuring intangible capital is to employ CIV method of valuation. Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change as some attempts have been made to measure the amount of intangible assets. It was found that intangible assets account for $164.20 million in all the listed companies of Jordan. All this money does not appear on the balance sheets of these companies and hence requires special attention of policy makers for better utilization.

Keywords: intangible capital, stock prices, Amman Stock Exchange

Procedia PDF Downloads 359

Authors: P. M. Ikonić, T. A. Tasić, L. S. Petrović, S. B. Škaljac, M. R. Jokanović, V. M. Tomović, B. V. Šojić, N. R. Džinić, A. M. Torbica, B. B. Ikonić

Abstract:

The aim of the study was to determine how different ripening processes (traditional vs. industrial) influenced the proteolysis in traditional Serbian dry-fermented sausage Petrovská klobása. The obtained results indicated more intensive pH decline (0.7 units after 9 days) in industrially ripened products (I), what had a positive impact on drying process and proteolytic changes in these samples. Thus, moisture content in I sausages was lower at each sampling time, amounting 24.7% at the end of production period (90 days). Likewise, the process of proteolysis was more pronounced in I samples, resulting in higher contents of non-protein nitrogen (NPN) and free amino acids nitrogen (FAAN), as well as in faster and more intensive degradation of myosin (≈220 kDa), actin (≈45 kDa) and other polypeptides during processing. Consequently, the appearance and accumulation of several protein fragments were registered.

Keywords: dry-fermented sausage, Petrovská klobása, proteolysis, ripening process

Procedia PDF Downloads 312

Authors: Sohanur Rahman, Elisabeth Sinnewe, Larelle (Ellie) Chapple, Sarah Osborne

Abstract:

Greater political attention to global climate change exposes firms to a higher level of political uncertainty, which can lead to adverse capital market consequences. However, a higher level of discourse on environment-specific political risk (EPR) between management and investors can mitigate information asymmetry, followed by less stock price crash risk. This study examines whether EPR discourse in discourse in the earnings conference calls (ECC) reduces firm-level stock price crash risk in the US market. This research also explores if adverse disclosures via media channels further moderates the association between EPR on crash risk. Employing a dataset of 28,933 firm-year observations from 2002 to 2020, the empirical analysis reveals that EPR discourse in ECC reduces future stock price crash risk. However, adverse disclosures via media channels can offset the favourable effect of EPR discourse on crash risk. The results are robust to the potential endogeneity concern in a quasi-natural experiment setting.

Keywords: earnings conference calls, environment, environment-specific political risk discourse, environmental disclosures, information asymmetry, reputation risk, stock price crash risk

Procedia PDF Downloads 116

Authors: E. Chakwizira, D. J. Moot, M. Andrews, E. Teixeira

Abstract:

Partitioning of macro-nutrients in wheat (Triticum aestivum L.) plant organs have not been extensively studied, particularly for modern genotypes grown under contrasting N supply. Nutrient accumulation and partitioning of phosphorus, potassium, calcium, magnesium and sulphur (P, K, Ca, Mg and S) were determined for six wheat genotypes [12S2-2021, 12S3-3019, 13S3-2026, Discovery, Duchess and Reliance] grown with (200 kg/ha) or without (0 kg/ha) nitrogen (N), in a fully irrigated field experiment in 2017-18 season at Lincoln, New Zealand. Data were collected at three growth stages (GS): tillering (GS21), anthesis (GS60) and grain maturity (GS92). Grain yield varied with both N and genotype; from 6-7.5 t/ha for the 0 kg N/ha crops and 8.1-9.3 t/ha for the 200 kg N/ha treatments. Plant nutrient uptake at maturity responded to both N supply and genotype for all nutrients, except S which did not differ among the genotypes. For example, total P uptake averaged 13.5 (12.4-14.3) kg/ha for the 0 kg N/ha treatments and 17.8 (15.1-19.7) kg/ha when 200 kg N/ha was applied. Similarly, K uptake increased from an average of 23 (21.6-25.3) for the 0 kg N/ha treatments to 34.3 (32.4-40.8) kg/ha when 200 kg N/ha was applied. Similar trends were observed for Ca and Mg. The S content only responded to N supply but not to genotype, increasing from 7.9 kg/ha for the 0 kg N treatments to 12.8 kg/ha when 200 kg N was applied. Relative nutrient content at anthesis compared with those at maturity were 30% for P, 100% for both K and Ca and 34% of Mg. Sulphur content at anthesis decreased 29% with N supply and was highest for genotypes 12S2-2021 compared with the other five genotype. At grain maturity, the ratio of nutrients in grain to total plant nutrient, defined as the nutrient harvest index (NHI) varied with both N supply and genotype. Averaged across treatments, the NHI was 0.96 for P, 0.53 for K, 0.58 for Ca, 0.90 for Mg and 0.85 for S. These results suggest that Ca and K should be provided earlier in the season as there is limited or no uptake after anthesis. These results also show that Ca and K are important for structural functions, while P, Mg and S are remobilised to the grains and become important for quality.

Keywords: anthesis, genotype, nutrient harvests index, NHI, Triticum aestivum L.

Procedia PDF Downloads 143

Authors: Adel A. S. Al-Gheethi, M. O. Abdul-Monem

Abstract:

Cellulase-producing bacteria were isolated from wastewater and sludge, and identified as Bacillus megaterium 1295S, Sporosarcina pasteurii 586S, Bacillus subtilis 117S, Burkholderia cepacia 120S and Staphylococcus xylosus 222W. Among bacteria, B. megaterium 1295S was the best cellulase producer under the catabolic repression and was therefore selected to study the factors affecting cellulase production. The optimum conditions for cellulase production were observed in CMC-Yeast Extract (CYE) agar medium (pH 6.5) inoculated with 0.4 mL of bacterial culture and incubated at 45˚C for 72 h. Twenty amino acids were introduced into the production medium as nitrogen source to investigate the production of cellulase in presence of amino acids in comparison to peptone (as an organic source) and sodium nitrate (as an inorganic source). The results found that the maximum production of cellulase was recorded at 50 ppm when L-hydroxy proline, L-arginine, glycine, L-histidine, L-leucine, DL-isoleucine, DL-β-phenylalanine were used as sole nitrogen sources and at 100 ppm when DL-threonine, L-ornithine 12.29, L-proline were used as sole nitrogen sources. The highest biomass yield was found when glycine 5 ppm and DL-serine 100 ppm used as a nitrogen source.

Keywords: CMCase, Bacillus megaterium 1295S, factors, amino acids

Procedia PDF Downloads 428

Authors: Abdel Khalek Selim, Safaa Mahmoud

Abstract:

Experiments were designed to study nitrogen loss through leaching in soil columns treated with different nitrogen sources and elemental sulfur. The soil material (3 kg alluvial or calcareous soil) were packed in Plexiglas columns (10 cm diameter). The soil columns were treated with 2 g N in the form of Ca(NO3)2, urea, urea + inhibitor (Nitrapyrin), another set of these treatments was prepared to add elemental sulfur. During incubation period, leaching was performed by applying a volume of water that allows the percolation of 250-ml water throughout the soil column. The leachates were analyzed for NH4-N and N03-N. After 10 weeks, soil columns were cut into four equal segments and analyzed for ammonium, nitrate, and total nitrogen. Results indicated the following: Ca(NO3)2 treatment showed a rapid NO3 leaching, especially in the first 3 weeks, in both clay and calcareous soils. This means that soil texture did not play any role in this respect. Sulfur addition also did not affect the rate of NO3 leaching. In urea treatment, there was a steady increase of NH4- and NO3–N from one leachate to another. Addition of sulfur with urea slowed down the nitrification process and decreased N losses. Clay soil contained residual N much more than calcareous soil. Almost one-third of added nitrogen might have been immobilized by soil microorganisms or lost through other loss paths. Nitrification inhibitor can play a role in preserving added nitrogen from being lost through leaching. Combining the inhibitor with elemental sulfur may help to stabilize certain preferred ratio of NH4 to NO3 in the soil for the benefit of the growing plants.

Keywords: alluvial soil, calcareous soil, elemental sulfur, nitrate leaching

Procedia PDF Downloads 296

Authors: Oyenike M. Olanrewaju, Faith O. Echobu, Aderemi G. Adesoji, Emmy Danny Ajik, Joseph Nda Ndabula, Stephen Luka

Abstract:

Nutrients are required for any soil with which plants thrive to improve efficient growth and productivity. Amongst these nutrients required for proper plant productivity are nitrogen, phosphorus and potassium (NPK). Due to factors like leaching, nutrient uptake by plants, soil erosion and evaporation, these elements tend to be in low quantity and the need to replenish them arises. However, this replenishment of soil nutrients cannot be done without a timely soil test to enable farmers to know the amount of each element in short quantity and evaluate the amount required to be added. Though wet soil analysis is good, it comes with a lot of challenges ranging from soil test gargets availability to the technical knowledge of how to conduct such soil tests by the common farmer. In this research, an Internet of Things test kit was developed to fill in the gaps created by wet soil analysis. The kit comprises components that were used to measure Nitrogen, Phosphorous and potassium (N, P, K) soil content, soil temperature and soil moisture at a series of intervals. In this implementation, the fieldwork was carried out within 0.2 hectares of land divided into smaller plots. Nitrogen values from the three reps range from 14.8 – 15mg/kg, Phosphorous 20.2-21.4 mg/kg, and Potassium 50.2-53 mg/kg. This information with soil moisture information obtained enabled the farmers to make informed and precise decisions on fertilizer applications, and wastage was avoided.

Keywords: internet of things, soil Nutrients, test kit, soil temperature

Procedia PDF Downloads 35

Authors: Namsoo Kim, So-Hee Son, Jin-Soo Maeng, Yong-Jin Cho, Chong-Tai Kim

Abstract:

It has been reported that some enzymes such as trypsin and Alcalase 2.4L are tolerant to a medium high pressure of 300 MPa and preparation of protein hydrolyzates under 300 MPa was advantageous with regard to hydrolysis rate and thus production yield compared with the counterpart under ambient pressure.1,2) In this study, nine fish comprising halibut, soft shell clam and carp were hydrolyzed using Flavourzyme 500MG only, and the combination of Flavourzyme 500 mg, Alcalase 2.4 L, Marugoto E, and Protamex under 300 MPa. Then, the effects of single and multiple protease treatments were determined with respect to contents of soluble solid (SS) and soluble nitrogen, sensory attributes, electrophoretic profiles, and HPLC peak patterns of the fish hydrolyzates (FHs) from various species. The contents of SS of the FHs were quite species-specific and the hydrolyzates of halibut showed the highest SS contents. At this point, multiple protease treatment increased SS content conspicuously in all fish tested. The contents of total soluble nitrogen and TCA-soluble nitrogen were well correlated with those of SS irrespective of fish species and methods of enzyme treatment. Also, it was noticed that multiple protease treatment improved sensory attributes of the FHs considerably. Electropherograms of the FHs showed fast migrating peptide bands that had the molecular masses mostly lower than 1 kDa and this was confirmed by peptide patterns from HPLC analysis for some FHs that had good sensory quality.

Keywords: production, fish hydrolyzates, protease treatments, high pressure

Procedia PDF Downloads 258

Authors: Kevin Mark Banks, Dannis Rorisang Nkarapa Maubane, Carel Coetzee

Abstract:

The influence of aluminium content, reheating temperature, and sizing (final) strain on the as-rolled microstructure was systematically investigated in vanadium-microalloyed and C-Mn plate steels. Reheating, followed by hot rolling and air cooling simulations were performed on steels containing a range of aluminium and nitrogen contents. Natural air cooling profiles, corresponding to 6 and 20mm thick plates, were applied. The austenite and ferrite/pearlite microstructures were examined using light optical microscopy. Precipitate species and volume fraction were determined on selected specimens. No influence of aluminium content was found below 0.08% on the as-rolled grain size in all steels studied. A low Al-V-steel produced the coarsest initial austenite grain size due to AlN dissolution at low temperatures leading to abnormal grain growth. An Al-free V-N steel had the finest initial microstructure. Although the as-rolled grain size for 20mm plate was similar in all steels tested, the grain distribution was relatively mixed. The final grain size in 6mm plate was similar for most compositions; the exception was an as-cast V low N steel, where the size of the second phase was inversely proportional to the sizing strain. This was attributed to both segregation and a low VN volume fraction available for effective pinning of austenite grain boundaries during cooling. Increasing the sizing strain refined the microstructure significantly in all steels.

Keywords: aluminium, grain size, nitrogen, reheating, sizing strain, steel, vanadium

Procedia PDF Downloads 126

Authors: Edson Vengesai

Abstract:

Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

Procedia PDF Downloads 89