Search results for: profitability management mechanism

Authors: Khaled M. Khader, Mamdouh I. Elimy

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Reducing energy consumption became the major concern for all countries of the world during the recent decades. In general, power saving is currently the nominal goal of most industrial countries. It is well known that fossil fuels are the main pillar of development of world countries. Unfortunately, the increased rate of fossil fuel consumption will lead to serious problems caused by an expected depletion of fuels. Moreover, dangerous gases and vapors emission lead to severe environmental problems during fuel burning. Consequently, most engineering sectors especially the mechanical sectors are looking for improving any machine accompanied by reducing its energy consumption. Crank-Rocker planar mechanism is the most applied in mechanical systems. Besides, it is one of the most significant parts of the machines for obtaining the oscillatory motion. The transmission angle of this mechanism can be considered as an optimum value when its extreme values are equally varied around 90°. In addition, the transmission angle plays an important role in decreasing the required driving power and improving the dynamic properties of the mechanism. Hence, appropriate selection of mechanism links lengthens, which assures optimum transmission angle leads to decreasing the driving power. Moreover, mechanism's links manufactured from composite materials afford link's lightweight, which decreases the required driving torque. Furthermore, wear and corrosion problems can be treated through using composite links instead of using metal ones. This paper is dealing with improving the performance of crank-rocker mechanism using composite links due to their flexural elastic modulus values and stiffness in addition to high damping of composite materials.

Keywords: Composite Material, Crank-Rocker Mechanism, Transmission angle, Design techniques, Power Saving

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Authors: Mohamed Elkholy, Ahmed Elfatatry

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Cloud computing has emerged as a flexible computing paradigm that reshaped the Information Technology map. However, cloud computing brought about a number of security challenges as a result of the physical distribution of computational resources and the limited control that users have over the physical storage. This situation raises many security challenges for data integrity and confidentiality as well as authentication and access control. This work proposes a security mechanism for data integrity that allows a data owner to be aware of any modification that takes place to his data. The data integrity mechanism is integrated with an extended Kerberos authentication that ensures authorized access control. The proposed mechanism protects data confidentiality even if data are stored on an untrusted storage. The proposed mechanism has been evaluated against different types of attacks and proved its efficiency to protect cloud data storage from different malicious attacks.

Keywords: access control, data integrity, data confidentiality, Kerberos authentication, cloud security

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Authors: Pham Duc Hieu, Do Thi Huong Lan

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The aim of this paper is to investigate the factors affecting the extent of voluntary disclosure by examining the annual reports of 205 industrial and manufacturing companies listing on Ho Chi Minh Stock Exchange (HSX) and Hanoi Stock Exchange (HNX) for the year end of 2012. Those factors include company size, profitability, leverage, state ownership, managerial ownership, and foreign ownership, board independence, role duality and type of external auditors. Evidence from this study suggests two main findings. (1) Companies with high foreign ownership have a high level of voluntary disclosure. (2) The company size is an important factor related to the increased level of voluntary disclosure in annual reports made by Vietnamese listed companies. The larger the company, the higher the information is disclosed. However, no significant associations are found between profitability, leverage, state ownership, managerial ownership, board independence, role duality and type of external auditors as hypothesized in this study.

Keywords: voluntary disclosure, Vietnamese listed companies, voluntary, duality

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Authors: Jesryl B. Paulite, Eixer Niel V. Enesco

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Lettuce is not well known in the lowland locality in the tropical countries like Philippines. Farmers thought that this crop is not adaptable to the climate that we have in lowland. But some new varieties can tolerate warmer conditions. The massive use of pesticides in lettuce production might chronically affect human health and environment. The move of the Philippine government is toward organic. One of the organic material is vermicompost. It is an organic fertilizer that serves as soil conditioner and enhances soil fertility and promotes vigorous and healthy crop growth and Supplementation of 19-19-19+M.E. will make it better since it contains N-P-K and selected microelements to meet the nutritive requirements of the crop. The experiment was conducted at Purok 3, Brgy. Tiburcia, Kapalong, Davao del Norte from February 6, 2014 to March 4, 2014. The study was conducted to determine the effect of varying frequency application of vermicast as supplemented with 19-19-19+M.E. in lettuce. Specifically, this aimed to 1.) Identify the agronomic performance of lettuce as affected by varying frequency application of vermicast as supplemented with 19-19-19+M.E.; 2.) Assess the economic profitability of lettuce as applied with vermicast as supplemented with 19-19-19+M.E. The study was laid out in Randomized Complete Block Design (RCBD) with four treatments and three replications. The treatments were as follow: T1 – Untreated, T2 - Weekly Application, T3- Bi-weekly Application, and T4- Monthly Application. The data on percent (%) mortality were transformed using square root of transformation before Analysis of Variance (ANOVA). Results revealed not significant in terms of percent mortality in weekly and monthly application of the treatment having a mean of 1.76 % and 3.09 %. However, Significant differences were observed in agronomic performances such as; plant height with a mean of 10.63 cm in weekly application and 6.40 cm for the untreated, leaf width with a mean of 10.80 cm for the weekly application and 6.03 for the untreated, fresh weight with a mean of 25.67 g for the weekly application and 6.83 g for the untreated, and yield with a mean of 1,208.33 kg/ha for the weekly application and 327.08 kg/ha for the untreated, respectively. Results further exposed that profitability of lettuce in terms of Return of Production Cost (RPC) were; bi-weekly with 91.01 %, monthly with 68.20 %, weekly with 25.34 % and untreated (control) with 16.69 %.

Keywords: agronomic performance, economic profitability, vermicast, percent mortality, 19-19-19+ME

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Authors: Gulnara Moldasheva

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The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of randomly selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan.

Keywords: ownership, corporate governance, debt to equity ratio, corporate performance

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Authors: Hani Albogami

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The internal audit function is considered as one of the internal corporate governance mechanisms that may have an impact on improving earnings quality by constraining earnings management. The internal audit function is also a unique corporate governance mechanism because internal auditors have more involvement with the day-to-day operations comparing to the audit committee, and also internal auditors audit their companies the whole year compared to the external auditor who audits only a certain time of the year. The relationships between internal audit function and earnings management can be understood by some theories. Therefore, this paper provides a theoretical background of the influence of the quality of internal audit function on earnings management. In particular, the agency theory, institutional theory, singling theory, and resource dependency theory are adapted by this paper to provide some understanding and analyses that can be a basis for future research to contribute to the corporate governance academic studies.

Keywords: internal audit, corporate governance, earnings management, accounting

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Authors: Tingke Wu, Yaping Huang

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Many cities in China have been experiencing serious urban sprawl since the 1980s, which pose great challenges to a country with scare cultivated land and huge population. Because of different social and economic context and development stage, driving forces of urban sprawl in China are quite different from developed countries. Therefore, it is of great importance to probe into urban sprawl driving mechanism in Chinese context. By a comparison study of the background and features of urban sprawl between China and developed countries, this research establishes an analytical framework for sprawl dynamic mechanism in China. By literature review and analyzing data from national statistical yearbook, it then probes into the driving mechanism and the primary cause of urban sprawl. The results suggest that population increase, economic growth, traffic and information technology development lead to rapid expansion of urban space; defects of land institution and lack of effective guidance give rise to low efficiency of urban land use. Moreover, urban sprawl is ultimately attributed to imperfections of policy and institution. On this basis, this research puts forward several sprawl control strategies in Chinese context.

Keywords: China, driving forces, driving mechanism, land institution, urban expansion, urban sprawl

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Authors: Kristel Faye Tandog

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The State Owned Enterprise (SOE) or also called Public Enterprise (PE) has been playing a vital role in a country’s social and economic development. Following this idea, this study focused on the Factor Structures of Financial Performance of the Local Economic Enterprises (LEEs) namely: Food Court, Market, Slaughterhouse, and Terminal in Matalam, Cotabato. It aimed to determine the profile of the LEEs in terms of organizational structure, manner of creation, years in operation, source of initial operating requirements, annual operating budget, geographical location, and size or description of the facility. This study also included the different financial ratios of LEE that covered a five year period from Calendar Year 2009 to 2013. Primary data using survey questionnaire was administered to 468 respondents and secondary data were sourced out from the government archives and financial documents of the said LGU. There were 12 dominant factors identified namely: “management”, “enforcement of laws”, “strategic location”, “existence of non-formal competitors”, “proper maintenance”, “pricing”, “customer service”, “collection process”, “rentals and services”, “efficient use of resources”, “staffing”, and “timeliness and accuracy”. On the other hand, the financial performance of the LEE of Matalam, Cotabato using financial ratios needs reformatting. This denotes that refinement as to the following ratios: Cash Flow Indicator, Activity, Profitability and Growth is necessary. The cash flow indicator ratio showed difficulty in covering its debts in successive years. Likewise, the activity ratios showed that the LEE had not been effective in putting its investment at work. Moreover, profitability ratios revealed that it had operated in minimum capacity and had incurred net losses and thus, it had a weak profit performance. Furthermore, growth ratios showed that LEE had a declining growth trend particularly in net income.

Keywords: factor structures, financial performance, financial ratios, state owned enterprises

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Authors: Marco Khalaf Ayad Milhaail

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In thinking about the role of legal rules and their impact on social ethics and social structures, scholars have explored many issues related to gender, power, and ideology. First, it provides a framework for defining feminist legal studies through an overview of the field's evolution in terms of equality, rights, and justice. Secondly, it encourages those interested in equality, rights, and justice regarding women's issues to participate in international comparative law research. Third, we must emphasize that those seeking solutions to disability and discrimination must be aware of the need to confront the so-called undermining of culture. Therefore, an effective way for women to solve this problem is to rely heavily on international law, which establishes basic legal principles such as gender equality, rights, and justice and can help create a domestic environment. Woman has gained many advantages by adopting the law of Divorce in the Islamic Sharea. Any Egyptian woman can get divorce by letting her rightful rights and wealth to her husband in return for her freedom.

Keywords: stability, harsh environments, techniques, thermal, properties, materials, applications, brittleness, fragility, disadvantages, bank, branches, profitability, setting prediction, effective target, measurement, evaluation, performance, commercial, business, profitability, sustainability, financial, system, banks

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Authors: Zhuo Feng, Ying Gao

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Public-private partnership (PPP), as an innovative way to provide infrastructures by the private sector, is being widely used throughout the world. Compared with the traditional mode, PPP emerges largely for merits of relieving public budget constraint and improving infrastructure supply efficiency by involving private funds. However, PPP projects are characterized by large scale, high investment, long payback period, and long concession period. These characteristics make PPP projects full of risks. One of the most important risks faced by the private sector is demand risk because many factors affect the real demand. If the real demand is far lower than the forecasting demand, the private sector will be got into big trouble because operating revenue is the main means for the private sector to recoup the investment and obtain profit. Therefore, it is important to study how the government compensates the private sector when the demand risk occurs in order to achieve Pareto-improvement. This research focuses on price compensation mechanism, an ex-post compensation mechanism, and analyzes, by mathematical modeling, the impact of price compensation mechanism on payoff of the private sector and consumer surplus for PPP toll road projects. This research first investigates whether or not price compensation mechanisms can obtain Pareto-improvement and, if so, then explores boundary conditions for this mechanism. The research results show that price compensation mechanism can realize Pareto-improvement under certain conditions. Especially, to make the price compensation mechanism accomplish Pareto-improvement, renegotiation costs of the government and the private sector should be lower than a certain threshold which is determined by marginal operating cost and distortionary cost of the tax. In addition, the compensation percentage should match with the price cut of the private investor when demand drops. This research aims to provide theoretical support for the government when determining compensation scope under the price compensation mechanism. Moreover, some policy implications can also be drawn from the analysis for better risk-sharing and sustainability of PPP projects.

Keywords: infrastructure, price compensation mechanism, public-private partnership, renegotiation

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Authors: Asghar Zamani, Mostafa Falahmorad

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Virtualization is established to combine and use the unique capabilities of employees to increase productivity and agility to provide services regardless of location. Adapting to fast and continuous change and getting maximum access to human resources are reasons why virtualization is happening. The distance problem is solved by information. Flexibility is the most important feature of virtualization, and information will be the main focus of virtualized companies. In this research, we used the Covid-19 opportunity window to assess the productivity of the companies that had been going through more virtualized management before the Covid-19 in comparison with those that just started planning on developing infrastructures on virtual management after the crises of pandemic occurred. The research process includes financial (profitability and customer satisfaction) and behavioral (organizational culture and reluctance to change) metrics assessment. In addition to financial and CRM KPIs, a questionnaire is devised to assess how manager and employees’ attitude has been changing towards the migration to virtualization. The sample companies and questions are selected by asking from experts in the IT industry of Iran. In this article, the conclusion is that companies open to virtualization based on accurate strategic planning or willing to pay to train their employees for virtualization before the pandemic are more agile in adapting to change and moving forward in recession. The prospective companies in this research, not only could compensate for the short period loss from the first shock of the Covid-19, but they could also foresee new needs of their customer sooner than other competitors, resulting in the need to employ new staff for executing the emerging demands. Findings were aligned with the literature review. Results can be a wake-up call for business owners especially in developing countries to be more resilient toward modern management styles instead of continuing with traditional ones.

Keywords: virtual management, virtual organization, competitive advantage, KPI, profit

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Authors: Faisal Mehmood

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In this globalization era, the supply chain management has acquired strategic importance in diverse business environments. In the current highly competitive business environment, the success of any business considerably depends on the efficiency of the supply chain. Management has now realized that due to the inefficiency of any member of supply chain, the profitability of the business will be affected. This paper proposes an analysis of backward supply chain in the beverages industry of Pakistan. Although reuse of products and materials is a common phenomenon, companies have long ignored this important part of the supply chain, known as backward supply chain or reverse logistics. The beverage industry is among the pioneers of backward supply chain or reverse logistics in Pakistan. The empty glass bottles are returned back from the point of consumption to the warehouse for refilling and reusability purposes. Due to the lack of information on reverse flow of logistics and more attention on the forward distribution, beverages industry in Pakistan is facing high rate of inefficiencies and ineffectiveness. Analysis of backward or reverse logistics practiced in beverages industry is the subject of this study in which framework dictating the current needs of market will be developed.

Keywords: backward supply chain, reverse logistics, refilling, re-usability

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Authors: Bing Li, Zhi Li, Yilong Yang

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Web classification can promote the quality of service discovery and management in the service repository. It is widely used to locate developers desired services. Although traditional classification methods based on supervised learning models can achieve classification tasks, developers need to manually mark web services, and the quality of these tags may not be enough to establish an accurate classifier for service classification. With the doubling of the number of web services, the manual tagging method has become unrealistic. In recent years, the attention mechanism has made remarkable progress in the field of deep learning, and its huge potential has been fully demonstrated in various fields. This paper designs a multi-head attention graph convolutional network (MHAGCN) service classification method, which can assign different weights to the neighborhood nodes without complicated matrix operations or relying on understanding the entire graph structure. The framework combines the advantages of the attention mechanism and graph convolutional neural network. It can classify web services through automatic feature extraction. The comprehensive experimental results on a real dataset not only show the superior performance of the proposed model over the existing models but also demonstrate its potentially good interpretability for graph analysis.

Keywords: attention mechanism, graph convolutional network, interpretability, service classification, service discovery

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Authors: Dharamvir Mangal

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Supply chain management has increasingly become an inevitable challenge to most companies to continuously survive and prosper in the global chain-based competitive environment. The current challenges of the Indian automotive world, their implications on supply chain are summarized and analyzed in this paper. In this competitive era of ‘LPG’ i.e. Liberalization, Privatization and Globalization, modern marketing systems, introduction of products with short life cycles, and the discriminating expectations of customers have enforced business enterprises to invest in and focus attention on their Supply Chains (SCs) in order to meet out the level of customer’s satisfaction and to survive in the competitive market. In fact, many of trends in the auto industry are reinforcing the need to redefine supply chain strategies layouts, and operations etc. Many manufacturing operations are designed to maximize throughput and lower costs with modest considerations for the crash on inventory levels and distribution capabilities. To improve profitability and efficiency, automotive players are seeking ways to achieve operational excellence, reduce operating cost and enhance customer service through efficient supply chain management.

Keywords: automotive industry, supply chain, challenges, market potential

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Authors: Zhaopeng Zhu, Xianzhi Song, Gensheng Li, Shuo Zhu, Shiming Duan, Xuezhe Yao

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Accurate calculation of wellbore pressure is of great significance to prevent wellbore risk during drilling. The traditional mechanism model needs a lot of iterative solving procedures in the calculation process, which reduces the calculation efficiency and is difficult to meet the demand of dynamic control of wellbore pressure. In recent years, many scholars have introduced artificial intelligence algorithms into wellbore pressure calculation, which significantly improves the calculation efficiency and accuracy of wellbore pressure. However, due to the ‘black box’ property of intelligent algorithm, the existing intelligent calculation model of wellbore pressure is difficult to play a role outside the scope of training data and overreacts to data noise, often resulting in abnormal calculation results. In this study, the multi-phase flow mechanism is embedded into the objective function of the neural network model as a constraint condition, and an intelligent prediction model of wellbore pressure under the constraint condition is established based on more than 400,000 sets of pressure measurement while drilling (MPD) data. The constraint of the multi-phase flow mechanism makes the prediction results of the neural network model more consistent with the distribution law of wellbore pressure, which overcomes the black-box attribute of the neural network model to some extent. The main performance is that the accuracy of the independent test data set is further improved, and the abnormal calculation values basically disappear. This method is a prediction method driven by MPD data and multi-phase flow mechanism, and it is the main way to predict wellbore pressure accurately and efficiently in the future.

Keywords: multiphase flow mechanism, pressure while drilling data, wellbore pressure, mechanism constraints, combined drive

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Authors: Marianys Fernandez

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Gastronomic experiences generate a positive impact on the dynamization of the economy when they are managed in a sustainable manner, given that they value the identity of the destination, strengthen cooperation between stakeholders in the sector, contribute to the preservation of gastronomic heritage, and encourage the implementation of competitive and sustainable public policies. Having as its main aim the analysis of sustainable management of gastronomic experiences, this study analyses different elements associated with the promotion of the local economy. For this purpose, a systematic literature review was carried out to identify, select, synthesise, and evaluate the studies that respond to the research objectives in order to select more reliable articles for research and reduce the potential for bias within the review of literature. To obtain reliable, updated and relevant sources for scientific research, the Web of Science and Scopus databases were used, taking into account the following key words: (1) experiential tourism, (2) gastronomy experience, (3) sustainable destination management, (4) sustainable gastronomy, (5) sustainable economy, in which we obtained a final list of 76 articles. The analysis of the literature allowed us to identify the most pertinent elements referring to the objective of the study: (a) need for competitive policies in the gastronomic sector to promote sustainable local economic development, (b) incentive for cooperation between stakeholders in the gastronomic sector, to guarantee the competitiveness of the destination, (c) propose sustainable standards in the gastronomic tourism sector that link the local economy. Gastronomic experiences constitute a dynamic element of the local economy and promote sustainable tourism. We can highlight that sustainability is a mechanism for the preservation of regional identity in the gastronomic sector through the valuation of the attributes of gastronomy, promotion of the local economy, strengthening of strategic alliances between the stakeholders of the gastronomic sector and its relevant contribution to the competitiveness of the destination. The theoretical implications of the study are focused on suggesting planning, management, and policy criteria to promote the sustainable management of gastronomic experiences in order to promote the local economy. In the practical context, research integrates different approaches, tools, and methods to encourage the active participation of local actors in the promotion of the local economy through the sustainable management of gastronomic tourism.

Keywords: experiential tourism, gastronomy experience, sustainable destination management, sustainable economy, sustainable gastronomy

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Authors: Min Wei

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With the rapid development eco-tourism resources exploitation, the conflict between economy development and ecological environment is increasingly prominent. The environmental protection laws, however, are lack of necessary legal support to use market mechanism and economic means to carry out ecological compensation and promote the environmental protection. In order to protect the sustainable utilization of eco-tourism resources and the benign development of the interests of various stakeholders, protection of ecological compensation balance should be put on schedule. The main role of institutional guarantee in eco-tourism resources' value compensation mechanism is to solve the question 'how to guarantee compensation'. The evaluation of the game model in this paper reveals that interest balance of stakeholders is an important cornerstone to obtain the sustainable development. The findings result in constructing a sustainable development pattern of eco- tourism industry based on tripartite game equilibrium among government, tourism enterprises and tourists. It is important that the social, economic and ecological environment should be harmonious development during the pursuit of eco-tourism growth.

Keywords: environmental protection, ecological compensation, eco-tourism, market mechanism

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Authors: Linyao Qiu, Zhiqiang Du

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As the rapid development of urbanization, economic developments, and steady population growth in China, the widespread devastation, economic damages, and loss of human lives caused by numerous forms of natural disasters are becoming increasingly serious every year. Disaster management requires available and effective cooperation of different roles and organizations in whole process including mitigation, preparedness, response and recovery. Due to the imbalance of regional development in China, the disaster management capabilities of national and provincial disaster reduction centers are uneven. When an undeveloped area suffers from disaster, neither local reduction department could get first-hand information like high-resolution remote sensing images from satellites and aircrafts independently, nor sharing mechanism is provided for the department to access to data resources deployed in other place directly. Most existing disaster management systems operate in a typical passive data-centric mode and work for single department, where resources cannot be fully shared. The impediment blocks local department and group from quick emergency response and decision-making. In this paper, we introduce a collaborative platform for distributed disaster reduction. To address the issues of imbalance of sharing data sources and technology in the process of disaster reduction, we propose a multi-role oriented collaboration business mechanism, which is capable of scheduling and allocating for optimum utilization of multiple resources, to link various roles for collaborative reduction business in different place. The platform fully considers the difference of equipment conditions in different provinces and provide several service modes to satisfy technology need in disaster reduction. An integrated collaboration system based on focusing services mechanism is designed and implemented for resource scheduling, functional integration, data processing, task management, collaborative mapping, and visualization. Actual applications illustrate that the platform can well support data sharing and business collaboration between national and provincial department. It could significantly improve the capability of disaster reduction in China.

Keywords: business collaboration, data sharing, distributed disaster reduction, focusing service

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Authors: Eldho Paul, Brijesh Paul

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This work proposes an auction mechanism based solution methodology for the optimum scheduling of trucks in a cross-docking centre. The cross-docking centre is an important element of lean supply chain. It reduces the amount of storage and transportation costs in the distribution system compared to an ordinary warehouse. Better scheduling of trucks in a cross-docking center is the best way to reduce storage and transportation costs. Auction mechanism is commonly used for allocation of limited resources in different real-life applications. Here, we try to schedule inbound trucks by integrating auction mechanism with the functioning of a cross-docking centre. A mathematical model is developed for the optimal scheduling of inbound trucks based on the auction methodology. The determination of exact solution for problems involving large number of trucks was found to be computationally difficult, and hence a genetic algorithm based heuristic methodology is proposed in this work. A comparative study of exact and heuristic solutions is done using five classes of data sets. It is observed from the study that the auction-based mechanism is capable of providing good solutions to scheduling problem in cross-docking centres.

Keywords: auction mechanism, cross-docking centre, genetic algorithm, scheduling of trucks

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Authors: Wale Agbaje

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The aim of this research study is to assess the impact of financial statement fraud on profitability of some selected Nigerian manufacturing firms covering (2002-2016). The specific objectives focused on to ascertain the effect of incorrect asset valuation on return on assets (ROA) and to ascertain the relationship between improper expense recognition and return on assets (ROA). To achieve these objectives, descriptive research design was used for the study while secondary data were collected from the financial reports of the selected firms and website of security and exchange commission. The analysis of covariance (ANCOVA) was used and STATA II econometric method was used in the analysis of the data. Altman model and operating expenses ratio was adopted in the analysis of the financial reports to create a dummy variable for the selected firms from 2002-2016 and validation of the parameters were ascertained using various statistical techniques such as t-test, co-efficient of determination (R2), F-statistics and Wald chi-square. Two hypotheses were formulated and tested using the t-statistics at 5% level of significance. The findings of the analysis revealed that there is a significant relationship between financial statement fraud and profitability in Nigerian manufacturing industry. It was revealed that incorrect assets valuation has a significant positive relationship and so also is the improper expense recognition on return on assets (ROA) which serves as a proxy for profitability. The implication of this is that distortion of asset valuation and expense recognition leads to decreasing profit in the long run in the manufacturing industry. The study therefore recommended that pragmatic policy options need to be taken in the manufacturing industry to effectively manage incorrect asset valuation and improper expense recognition in order to enhance manufacturing industry performance in the country and also stemming of financial statement fraud should be adequately inculcated into the internal control system of manufacturing firms for the effective running of the manufacturing industry in Nigeria.

Keywords: Althman's Model, improper expense recognition, incorrect asset valuation, return on assets

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Authors: Urmi Khatri

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Capital asset pricing model (CAPM) draws a direct relationship between the risk and the expected rate of return. There was a criticism on the beta and the assumptions of CAPM, as they are not applicable in the real world. Fama French Three Factor Model and Fama French Five Factor Model have given different factors, which have an impact on the return of any asset like size, value, investment and profitability. This study proposes to see Capital Asset pricing Model through the lenses of the quality aspect. In the study, the six factors are studied. The Fama French Five Factor Model and addition of the quality dimension are studied. Here, Graham’s seven quality and quantity criteria are measured to determine the score of the sample firms. Thus, this study tries to check the model fit. The beta coefficient of the quality dimension and the R square value is seen to determine validity of the proposed model. The sample is drawn from the firms listed on Indian Stock Exchange (BSE). For the study, only nonfinancial firms are been selected. The time period of the study is from January 1999 to December 2019. Hence, the primary objective of the study is to check how robust the model becomes after giving the quality dimension to the capital asset pricing model in addition to the size, value, profitability and investment.

Keywords: asset pricing model, CAPM, Graham’s score, G-score, multifactor model, quality

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Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

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Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost in a timely manner. In such cases, refinancing could be a solution to benefit from the long-term returns of the project if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. To fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help implementing financially viable energy efficiency projects, so the community could benefit from their environmental advantages widely.

Keywords: energy efficiency projects, leveraged loan, refinancing, sustainability

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Authors: Galal H. Senussi, Muamar Benisa, Sanja Vasin

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In our business field today, one of the most important issues for any enterprises is cost minimization and profit maximization. Second issue is how to develop a strong and capable model that is able to give us desired forecasting of these two issues. Many researches deal with these issues using different methods. In this study, we developed a model for multi-criteria production program optimization, integrated with Artificial Neural Network. The prediction of the production cost and profit per unit of a product, dealing with two obverse functions at same time can be extremely difficult, especially if there is a great amount of conflict information about production parameters. Feed-Forward Neural Networks are suitable for generalization, which means that the network will generate a proper output as a result to input it has never seen. Therefore, with small set of examples the network will adjust its weight coefficients so the input will generate a proper output. This essential characteristic is of the most important abilities enabling this network to be used in variety of problems spreading from engineering to finance etc. From our results as we will see later, Feed-Forward Neural Networks has a strong ability and capability to map inputs into desired outputs.

Keywords: project profitability, multi-objective optimization, genetic algorithm, Pareto set, neural networks

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Authors: Natalia Uribe Corrales, Santiago Henao Villegas

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Introduction: The management of pigs in the holding pens at the slaughterhouses is a key point to minimize levels of stress and fear, improve efficiency, maintain a good quality of meat and avoid economic losses. Holding pens should guarantee drinking water continuously, a minimum space of 1.2 m2/ animal; As well as an adequate management in the conduction of the animals towards stun. Objective: To characterize the management practices in holding pens in slaughterhouses in the Valle de Aburrá. Methods: A descriptive cross - sectional study was carried out in Valle de Aburrá benefit plants, which were authorized by National Institute for Food and Medicine Surveillance (INVIMA). Variables such as management mechanisms to the pens, time of housing, water supply, load density, vocalization, slips and falls of the animals in the pens and mechanism of conduction towards desensitization were analyzed. Results: 225 pigs were analyzed, finding that 35.6% were lowered with slaps from the trucks to the waiting pens; The lairage time was greater than 10 hours in 16% of the animals; 12.9% of pigs had no water permanently; 40.9% was subjected to a high load density, while 19.6% had a low load density. Regarding aspects of animal welfare, 37.3% presented high vocalizations; 29.3% and 14.2% presented slips or falls respectively. Regarding the mechanism of conduction towards desensitization, slapping was used in 56% and electrical prod in 4%. Conclusions: It is necessary to continue promoting the learning of the densities of load, since both high and low densities generate inconveniences in animal welfare, favoring the appearance of lesions and stress in the animals. Also, to promote the rule of permanent water in the pens and a time of housing less than 10 hours. In relation to the driving mechanisms, it is necessary to continue animal husbandry campaigns, encouraging the use of other alternatives such as boards or panels to assist the movement of pigs.

Keywords: animal welfare, quality of meat, swine, waiting pens

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Authors: Suriyani Ariffin, Nor Aziah Alias, Khairil Iskandar Othman, Haslinda Yusoff

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An Integrated Cumulative Grade Point Average (iCGPA) is a mechanism and strategy to ensure the curriculum of an academic programme is constructively aligned to the expected learning outcomes and student performance based on the attainment of those learning outcomes that is reported objectively in a spider web. Much effort and time has been spent to develop a viable mechanism and trains academics to utilize the platform for reporting. The question is: How well do learners conceive the idea of their achievement via iCGPA and whether quality learner attributes have been nurtured through the iCGPA mechanism? This paper presents the architecture of an integrated CGPA mechanism purported to address a holistic evaluation from the evaluation of courses learning outcomes to aligned programme learning outcomes attainment. The paper then discusses the students’ understanding of the mechanism and evaluation of their achievement from the generated spider web. A set of questionnaires were distributed to a group of students with iCGPA reporting and frequency analysis was used to compare the perspectives of students on their performance. In addition, the questionnaire also explored how they conceive the idea of an integrated, holistic reporting and how it generates their motivation to improve. The iCGPA group was found to be receptive to what they have achieved throughout their study period. They agreed that the achievement level generated from their spider web allows them to develop intervention and enhance the programme learning outcomes before they graduate.

Keywords: learning outcomes attainment, iCGPA, programme learning outcomes, spider web, iCGPA reporting skills

Procedia PDF Downloads 191

Authors: M. N. Azian, A. N. Ilia Anisa, Y. Iwai

Abstract:

The mechanism for extraction bioactive compounds from plant matrix is essential for optimizing the extraction process. As a benchmark technique, a soxhlet extraction has been utilized for discussing the mechanism and compared with an accelerated water extraction. The trends of both techniques show that the process involves extraction and degradation. The highest yields of 6-, 8-, 10-gingerols and 6-shogaol in soxhlet extraction were 13.948, 7.12, 10.312 and 2.306 mg/g, respectively. The optimum 6-, 8-, 10-gingerols and 6-shogaol extracted by the accelerated water extraction at 140oC were 68.97±3.95 mg/g at 3min, 18.98±3.04 mg/g at 5min, 5.167±2.35 mg/g at 3min and 14.57±6.27 mg/g at 3min, respectively. The effect of temperature at 3mins shows that the concentration of 6-shogaol increased rapidly as decreasing the recovery of 6-gingerol.

Keywords: mechanism, ginger bioactive compounds, soxhlet extraction, accelerated water extraction

Procedia PDF Downloads 416

Authors: M. J. Alcedo, K. Ito, K. Maeda

Abstract:

A stockperson has a significant influence on the productivity and welfare of their animals. This influence may be good or bad depending on their stockmanship competence. In this study, stockmanship competence (SC) is defined as the capacity of the stockperson to ensure the welfare of their animals by providing their animal’s needs. The study was conducted to evaluate the stockmanship competence of backyard goat raisers and to examine its relationship to productivity and economic profitability. This was made possible by interviewing 101 backyard goat raisers who have undergone farmer livestock school on integrated goat management (FLS IGM) in Region I, Philippines on September 3-30, 2012 and March 4-17, 2013. Secondary data needed were gathered from the local government agencies involved. Data on stockmanship, goat productivity and farmer’s income before and after attending FLS-IGM were gathered through a semi-structured interview. Questions for stockamnship were based on the Philippine recommends on goat production, tips on goat raising and other scientific literature. Stockmanship competence index score (SCIS) was computed by summing the raw scores derived from each components of SC divided by the total number of components. Pearson correlation through SPSS was used to see the relationship between SC, productivity and income. Result showed that majority raised native and upgraded goats. The computed mean SCIS before and after undergoing FLS-IGM was 38.53% and 75.81%, respectively, an improvement of 49.17%. Both index scores resulted in significant differences in productivity and income. The median mature weight and mortality rate of goats before FLS-IGM, where SC was low, was 14 kg and 50% respectively. On the other hand, after stockmanship had improved, the median mature weight increased to 19 kgs and mortality rate decreased to 11.11%. Likewise, fewer goat diseases were observed by farmers as compared before. With regards to income, there was 127.34% difference on the median net income derived by farmers. Result implies that improved stockmanship competence can lead not only to increased productivity and income of backyard goat raisers but also welfare of the animal.

Keywords: stockmanship, backyard goat production, animal welfare, Philippines

Procedia PDF Downloads 300

Authors: M. Münch, R. Brandt

Abstract:

Martensitic steels with an ultimate tensile strength beyond 2000 MPa are applied in the powertrain of vehicles due to their excellent fatigue strength and high creep resistance. However, the creep controlling mechanism in martensitic steels at ambient temperatures up to 423 K is not evident. The purpose of this study is to review the low temperature creep (LTC) behavior of martensitic steels at temperatures from 363 K to 523 K. Thus, the validity of a logarithmic creep law is reviewed and the stress and temperature dependence of the creep parameters α and β are revealed. Furthermore, creep tests are carried out, which include stepped changes in temperature or stress, respectively. On one hand, the change of the creep rate due to a temperature step provides information on the magnitude of the activation energy of the LTC controlling mechanism and on the other hand, the stress step approach provides information on the magnitude of the activation volume. The magnitude, the temperature dependency, and the stress dependency of both material specific activation parameters may deliver a significant contribution to the disclosure of the nature of the LTC rate controlling mechanism.

Keywords: activation parameters, creep mechanisms, high strength steels, low temperature creep

Procedia PDF Downloads 157

Authors: M. Radunovic

Abstract:

Region of Southeastern Europe has a substantial energy resource potential and is witnessing an increasing rate of power and energy project investments. This comes as a result of countries harmonizing their legal framework and market regulations to conform the ones of European Union, enabling direct private investments. Funding in the power and energy market in this region originates from various resources and investment entities, including commercial and institutional ones. Risk anticipation and assessment is crucial to project success, especially given the long exploitation period of project in power and energy domain, as well as the wide range of stakeholders involved. This paper analyzes the possibility of combined application of tools used in total quality management and international financing institutions for project planning, execution and evaluation, with the goal of anticipating, assessing and minimizing the risks that might occur in the development and execution phase of a power and energy project in the market of southeastern Europe. History of successful project management and investments both in the industry and institutional sector provides sufficient experience, guidance and internationally adopted tools to provide proper project assessment for investments in power and energy. Business environment of southeastern Europe provides immense potential for developing power and engineering projects of various magnitudes, depending on stakeholders’ interest. Diversification on investment sources provides assurance that there is interest and commitment to invest in this market. Global economic and political developments will be intensifying the pace of investments in the upcoming period. The proposed approach accounts for key parameters that contribute to the sustainability and profitability of a project which include technological, educational, social and economic gaps between the southeastern European region and western Europe, market trends in equipment design and production on a global level, environment friendly approach to renewable energy sources as well as conventional power generation systems, and finally the effect of the One Belt One Road Initiative led by People’s Republic of China to the power and energy market of this region in the upcoming period on a long term scale. Analysis will outline the key benefits of the approach as well as the accompanying constraints. Parallel to this it will provide an overview of dominant threats and opportunities in present and future business environment and their influence to the proposed application. Through concrete examples, full potential of this approach will be presented along with necessary improvements that need to be implemented. Number of power and engineering projects being developed in southeastern Europe will be increasing in the upcoming period. Proper risk analysis will lead to minimizing project failures. The proposed successful combination of reliable project planning tools from different investment areas can prove to be beneficial in the future power and engineering investments, and guarantee their sustainability and profitability.

Keywords: capital investments, lean six sigma, logical framework approach, logical framework matrix, one belt one road initiative, project management tools, quality function deployment, Southeastern Europe, total quality management

Procedia PDF Downloads 96

Authors: F. Amin, S. Feizi

Abstract:

Big data has the potential to improve the quality of services; enable infrastructure that businesses depend on to adapt continually and efficiently; improve the performance of employees; help organizations better understand customers; and reduce liability risks. Analytics and marketing models of fixed and mobile operators are falling short in combating churn and declining revenue per user. Big Data presents new method to reverse the way and improve profitability. The benefits of Big Data and next-generation network, however, are more exorbitant than improved customer relationship management. Next generation of networks are in a prime position to monetize rich supplies of customer information—while being mindful of legal and privacy issues. As data assets are transformed into new revenue streams will become integral to high performance.

Keywords: big data, next generation networks, network transformation, strategy

Procedia PDF Downloads 342