Search results for: Korean stock market

Authors: N. Attari, S. Amziane, M. Chemrouk

Abstract:

A large number of old buildings have been identified as having potentially critical detailing to resist earthquakes. The main reinforcement of lap-spliced columns just above the joint region, discontinuous bottom beam reinforcement, and little or no joint transverse reinforcement are the most critical details of interior beam column joints in such buildings. This structural type constitutes a large share of the building stock, both in developed and developing countries, and hence it represents a substantial exposure. Direct observation of damaged structures, following the Algiers 2003 earthquake, has shown that damage occurs usually at the beam-column joints, with failure in bending or shear, depending on geometry and reinforcement distribution and type. While substantial literature exists for the design of concrete frame joints to withstand this type of failure, after the earthquake many structures were classified as slightly damaged and, being uneconomic to replace them, at least in the short term, suitable means of repairs of the beam column joint area are being studied. Furthermore; there exists a large number of buildings that need retrofitting of the joints before the next earthquake. The paper reports the results of the experimental programme, constituted of three beam-column reinforced concrete joints at a scale of one to three (1/3) tested under the effect of a pre-stressing axial load acting over the column. The beams were subjected at their ends to an alternate cyclic loading under displacement control to simulate a seismic action. Strain and cracking fields were monitored with the help a digital recording camera. Following the analysis of the results, a comparison can be made between the performances in terms of ductility, strength and mode of failure of the different strengthening solution considered.

Keywords: fibre reinforced polymers, joints, reinforced concrete, beam columns

Procedia PDF Downloads 417

Authors: Xvelian Qin

Abstract:

Urban "organic renewal" based on the development of existing resources in high-density urban areas has become the mainstream of urban development in the new era. As an important stock resource of public space in high-density urban areas, promoting its value remodeling is an effective way to alleviate the shortage of public space resources. However, due to the lack of evaluation links in the process of underpass space renewal, a large number of underpass space resources have been left idle, facing the problems of low space conversion efficiency, lack of accuracy in development decision-making, and low adaptability of functional positioning to citizens' needs. Therefore, it is of great practical significance to construct the evaluation system of under-bridge space renewal potential and explore the renewal mode. In this paper, some of the under-bridge spaces in the main urban area of Chongqing are selected as the research object. Through the questionnaire interviews with the users of the built excellent space under the bridge, three types of six levels and twenty-two potential evaluation indexes of "objective demand factor, construction feasibility factor and construction suitability factor" are selected, including six levels of land resources, infrastructure, accessibility, safety, space quality and ecological environment. The analytical hierarchy process and expert scoring method are used to determine the index weight, construct the potential evaluation system of the space under the bridge in high-density urban areas of Chongqing, and explore the direction of renewal and utilization of its suitability. To provide feasible theoretical basis and scientific decision support for the use of under bridge space in the future.

Keywords: high density urban area, potential evaluation, space under bridge, updated using

Procedia PDF Downloads 70

Authors: Natia Tsiklashvili, Tamari Poladashvili

Abstract:

Education is one of the fundamental factors of economic prosperity in all respects. It is impossible to talk about the sustainable economic development of the country without substantial investments in human capital and investment into higher educational institutions. Education improves the standard of living of the population and expands the opportunities to receive more benefits, which will be equally important for both the individual and the society as a whole. There are growing initiatives among educated people such as entrepreneurship, technological development, etc. At the same time, the distribution of income between population groups is improving. The given paper discusses the scientific literature in the field of sustainable development through higher educational institutions. Scholars of economic theory emphasize a few major aspects that show the role of higher education in economic growth: a) Alongside education, human capital gradually increases which leads to increased competitiveness of the labor force, not only in the national but also in the international labor market (Neoclassical growth theory), b) The high level of education can increase the efficiency of the economy, investment in human capital, innovation, and knowledge are significant contributors to economic growth. Hence, it focuses on positive externalities and spillover effects of a knowledge-based economy which leads to economic development (endogenous growth theory), c) Education can facilitate the diffusion and transfer of knowledge. Hence, it supports macroeconomic sustainability and microeconomic conditions of individuals. While discussing the economic importance of education, we consider education as the spiritual development of the human that advances general skills, acquires a profession, and improves living conditions. Scholars agree that human capital is not only money but liquid assets, stocks, and competitive knowledge. The last one is the main lever in the context of increasing human competitiveness and high productivity. To address the local issues, the present article researched ten educational institutions across Georgia, including state and private HEIs. Qualitative research was done by analyzing in-depth interweaves of representatives from each institution, and respondents were rectors/vice-rectors/heads of quality assurance service at the institute. The result shows that there is a number of challenges that institution face in order to maintain sustainable development and be the strong links to education and the labor market. Mostly it’s contacted with bureaucracy, insufficient finances they receive, and local challenges that differ across the regions.

Keywords: higher education, higher educational institutions, sustainable development, regions, Georgia

Procedia PDF Downloads 85

Authors: Adam Majczak, Grzegorz Barański, Marcin Szlachetka

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Environmental considerations necessitate the search for new energy sources. One of the available solutions is a partial replacement of diesel fuel by compressed natural gas (CNG) in the compression ignition engines. This type of the engines is used mainly in vans and trucks. These units are also gaining more and more popularity in the passenger car market. In Europe, this part of the market share reaches 50%. Diesel engines are also used in industry in such vehicles as ship or locomotives. Diesel engines have higher emissions of nitrogen oxides in comparison to spark ignition engines. This can be currently limited by optimizing the combustion process and the use of additional systems such as exhaust gas recirculation or AdBlue technology. As a result of the combustion process of diesel fuel also particulate matter (PM) that are harmful to the human health are emitted. Their emission is limited by the use of a particulate filter. One of the method for toxic components emission reduction may be the use of liquid gas fuel such as propane and butane (LPG) or compressed natural gas (CNG). In addition to the environmental aspects, there are also economic reasons for the use of gaseous fuels to power diesel engines. A total or partial replacement of diesel gas is possible. Depending on the used technology and the percentage of diesel fuel replacement, it is possible to reduce the content of nitrogen oxides in the exhaust gas even by 30%, particulate matter (PM) by 95 % carbon monoxide and by 20%, in relation to original diesel fuel. The research object is prototype gas injector designed for direct injection of compressed natural gas (CNG) in compression ignition engines. The construction of the injector allows for it positioning in the glow plug socket, so that the gas is injected directly into the combustion chamber. The cycle analysis of the four-cylinder Andoria ADCR engine with a capacity of 2.6 dm3 for different crankshaft rotational speeds allowed to determine the necessary time for fuel injection. Because of that, it was possible to determine the required mass flow rate of the injector, for replacing as much of the original fuel by gaseous fuel. To ensure a high value of flow inside the injector, supply pressure equal to 1 MPa was applied. High gas supply pressure requires high value of valve opening forces. For this purpose, an injector with hydraulic control system, using a liquid under pressure for the opening process was designed. On the basis of air pressure measurements in the flow line after the injector, the analysis of opening and closing of the valve was made. Measurements of outflow mass of the injector were also carried out. The results showed that the designed injector meets the requirements necessary to supply ADCR engine by the CNG fuel.

Keywords: CNG, diesel engine, gas flow, gas injector

Procedia PDF Downloads 493

Authors: Till Gramberg

Abstract:

In the dynamic world of machine and plant engineering, stagnation in the growth of new product sales compels companies to reconsider their business models. The increasing shift toward service orientation, known as "servitization," along with challenges posed by digitalization and sustainability, necessitates an adaptation of product portfolio management (PPM). Against this backdrop, this study investigates the current challenges and requirements of PPM in this industrial context and develops a framework for the application of generative artificial intelligence (AI) to enhance agility and efficiency in PPM processes. The research approach of this study is based on a mixed-method design. Initially, qualitative interviews with industry experts were conducted to gain a deep understanding of the specific challenges and requirements in PPM. These interviews were analyzed using the Gioia method, painting a detailed picture of the existing issues and needs within the sector. This was complemented by a quantitative online survey. The combination of qualitative and quantitative research enabled a comprehensive understanding of the current challenges in the practical application of machine and plant engineering PPM. Based on these insights, a specific framework for the application of generative AI in PPM was developed. This framework aims to assist companies in implementing faster and more agile processes, systematically integrating dynamic requirements from trends such as digitalization and sustainability into their PPM process. Utilizing generative AI technologies, companies can more quickly identify and respond to trends and market changes, allowing for a more efficient and targeted adaptation of the product portfolio. The study emphasizes the importance of an agile and reactive approach to PPM in a rapidly changing environment. It demonstrates how generative AI can serve as a powerful tool to manage the complexity of a diversified and continually evolving product portfolio. The developed framework offers practical guidelines and strategies for companies to improve their PPM processes by leveraging the latest technological advancements while maintaining ecological and social responsibility. This paper significantly contributes to deepening the understanding of the application of generative AI in PPM and provides a framework for companies to manage their product portfolios more effectively and adapt to changing market conditions. The findings underscore the relevance of continuous adaptation and innovation in PPM strategies and demonstrate the potential of generative AI for proactive and future-oriented business management.

Keywords: servitization, product portfolio management, generative AI, disruptive innovation, machine and plant engineering

Procedia PDF Downloads 82

Authors: Cumhur Cansever, Selcuk Er

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There is an increasing cooperation and interaction between the military logistic systems and civil organizations operating in today's market. While the scope and functions of civilian logistics have different characteristics, military logistics tries to import some applications that are conducted by private sectors successfully. Also, at this point, the determination of the optimal point of integration and interaction between civilian and military logistics has emerged as a key issue. In this study, the mutual effects between military and civilian logistics and their most common integration areas, (Supply Chain Management (SCM), Integrated Logistics Support (ILS) and Outsourcing) will be examined with risk analysis and determination of basic skills evaluation methods for determining the optimum point in the integration.

Keywords: core competency, integrated logistics support, outsourcing, supply chain management

Procedia PDF Downloads 527

Authors: M. Osipova

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Thanks to informational technologies development every sphere of economics is becoming more and more data-centralized as people are generating huge datasets containing information on any aspect of their life. Applying research of such data to human resources management allows getting scarce statistics on labor market state including salary expectations and potential employees’ typical career behavior, and this information can become a reliable basis for management decisions. The following article presents results of career behavior research based on freely accessible resume data. Information used for study is much wider than one usually uses in human resources surveys. That is why there is enough data for statistically significant results even for subgroups analysis.

Keywords: human resources management, salary expectations, statistics, turnover

Procedia PDF Downloads 349

Authors: Mahfoud Djebbar

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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.

Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets

Procedia PDF Downloads 556

Authors: Veronica S. Moertini, Niko Ibrahim, Verliyantina

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As market intermediary firms, e-commerce transaction broker firms need to strongly collaborate with suppliers in order to develop brands seek by customers. Developing suitable electronic Supplier Relationship Management (e-SRM) system is the solution to the need. In this paper, we propose our concept of e-SRM for transaction brokers owned by small medium enterprises (SMEs), which includes the integrated e-SRM and e-CRM architecture, the e-SRM applications with their functions. We then discuss the customization and implementation of the proposed e-SRM model in a specific transaction broker selling hotel rooms, which owned by an SME, KlikHotel.com. The implementation of the e-SRM in KlikHotel.com has been successfully boosting the number of suppliers (hotel members) and hotel room sales.

Keywords: e-CRM, e-SRM, SME, transaction broker

Procedia PDF Downloads 500

Authors: Luana Centorame, Alessio Ilari, Marco Giustozzi, Ester Foppa Pedretti

Abstract:

Maize is one of the most important agricultural cash crops in the world, involving three different chains: food, feed, and bioenergy production. Nowadays, the European corn borer (ECB), Ostrinia nubilalis, to the best of the author's knowledge, is the most important pest to control for maize growers. The ECB is harmful to maize; young larvae are responsible for minor damage to the leaves, while the most serious damage is tunneling by older larvae that burrow into the stock. Soon after, larvae can affect cobs, and it was found that ECB can foster mycotoxin contamination; this is why it is crucial to control it. There are multiple control methods available: agronomic, biological, and microbiological means, agrochemicals, and genetically modified plants. Meanwhile, the European Union’s policy focuses on the transition to sustainable supply chains and translates into the goal of reducing the use of agrochemicals by 50%. The current work aims to compare the agrochemical treatment of ECB and biological control through beneficial insects released by drones. The methodology used includes field trials of both chemical and biological control, considering a farm in central Italy as a case study. To assess the mechanical and technical efficacy of drones with respect to standard machinery, the available literature was consulted. The findings are positive because drones allow them to get in the field promptly, in difficult conditions and with lower costs if compared to traditional techniques. At the same time, it is important to consider the limits of drones regarding pilot certification, no-fly zones, etc. In the future, it will be necessary to deepen the topic with the real application in the field of both systems, expanding the scenarios in which drones can be used and the type of material distributed.

Keywords: beneficial insects, corn borer management, drones, precision agriculture

Procedia PDF Downloads 103

Authors: Nasser AlShawaaf

Abstract:

While previous researchers have attempted to explain art museums commercialisation with reference to cultural policies, they have overlooked the phenomenon of globalisation. This study examines the causes and effects of globalisation of art museums in France. Building on arts literature, we show that the cultural policies of the French government since 1980s of cultural democratisation, cultural decentralisation, and implementing market principles on the cultural sector are leading to arts globalisation. Although globalisation is producing economic benefits and enhancing cultural reach, however, the damages include artistic values and creativity, cultural heritage and representation, and the museum itself. Art museums and host cities could overcome negative consequences through a hybrid collection display and develop local collections gradually.

Keywords: cultural policy, cultural decentralisation, cultural globalisation, art museums, contextual analysis, France

Procedia PDF Downloads 104

Authors: Sirwe Ghaderpour, Nasrollah Ahmadifard, Naser Agh, Zakaria Vahabzadeh

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Rotifers are used in many hatcheries for feeding the earliest stages of fish larvae and crustaceans due to their small size, slow movements, fast reproduction, and easy cultivation. One of the disadvantages of using rotifers as live prey is their lower content of some nutrients compared to copepods, so it is necessary to increase the amounts of these nutrients by means of enrichment. Minerals are a group of micro-elements, essential to fish, that is lacking in the rotifers, for example, selenium (30 fold) and zinc (5 fold) are present in lower quantities than the minimum amounts found in copepods. In this study, the condensed Isochrysis aff. galbana (T-ISO) and Nannochloropsis oculata were suspended at concentration of 18 × 109 cell mL⁻¹ of water with 20 ppt of salinity. Four different levels (0, 1000, 2000, and 4000 mg L⁻¹) of each Na₂SeO₃ and ZnSO₄.7H₂O separately were prepared, and 1 mL of each stock was poured to the algae enrichment vessels for 1 h simultaneously. After that, the material was centrifuged (at 4000 rpm for 5 min), and the precipitated enriched algae was used for rotifer feeding. The contents of Se, Zn, Cu, and Mn were determined in enriched microalgae and rotifer by Atomic absorption. The highest content of both minerals was observed in 0.4 Zn + 0.4 Se treatment and also rotifer enriched with these enriched microalgae. The enrichment of microalgae with Zn and Se does not affect the content of Cu in the microalgae. Also, the content of Cu in rotifer fed with the enriched microalgae showed the highest Cu content in the treatments than the control. But, the enrichment with both minerals had a negative effect on the content Mn in enriched mixed microalgae except 0.4 Zn + 0.4 Se. The Mn content in enriched rotifer decreased in the treatments than the control except for 0.1 Zn + 0.1 Se. There was no significant effect on rotifer growth in combined enrichment with both minerals (p < 0.05). Overall, rotifers enrichment with Se and Zn mixed microalgae resulted in increasing Se, Zn, and Cu. This will allow Se and Zn microalgae enriched rotifers to be used as the minerals delivery method for fish larvae nutritional requirements.

Keywords: enrichment, larvae, microalgae, mineral, rotifer

Procedia PDF Downloads 132

Authors: Nuwan Kuruwitaarachchi, M. K. M. Peiris, C. N. Madawala, K. M. A. R. Perera, V. U. N Perera

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Dealing with businesses with the foreign market always took a special place in a country’s economy. Political and social factors came into play making currency rate changes fluctuate rapidly. Currency rate prediction has become an important factor for larger international businesses since large amounts of money exchanged between countries. This research focuses on comparing the accuracy of mainly three models; Autoregressive Integrated Moving Average (ARIMA), Artificial Neural Networks(ANN) and Support Vector Machines(SVM). series of data import, export, USD currency exchange rate respect to LKR has been selected for training using above mentioned algorithms. After training the data set and comparing each algorithm, it was able to see that prediction in SVM performed better than other models. It was improved more by combining SVM and SVR models together.

Keywords: ARIMA, ANN, FFNN, RMSE, SVM, SVR

Procedia PDF Downloads 212

Authors: Najam U. Saqib

Abstract:

Self-construal or an individual’s view of him or herself is an important variable by which culture affects the way people think and act. This notion of self-construal is identified with two distinct perspectives on the self. Within the independent construal, the self is seen as different from others, a way of defining the self, prominent in Western societies. The interdependent perspective which is typical for Eastern cultures emphasizes the connectedness of the self to others. The degree of independence-interdependence in one’s self-construal is thought to affect behavior, acceptance of social values, and decision making. This paper manipulates self-construal of Qatari consumers and investigates its effects on accepting incongruent changes in culture as a result of adopting market offerings and behavior that may be perceived as inconsistent with their self-construal. The research recommends strategies for policy makers in Qatar for successful advocacy of initiatives of national importance such as reducing diabetes and obesity by applying self-construal theory.

Keywords: cross-cultural, consumer behavior, self-construal, GCC (Gulf Cooperation Council)

Procedia PDF Downloads 186

Authors: Adrian Bostan, Nicolae Tapus, Adriana Tapus

Abstract:

The purpose of this research paper is to study and develop a system that is able to help identify problems and improve human rehabilitation after traumatic injuries. Traumatic injuries in human’s lower limbs can occur over a life time and can have serious side effects if they are not treated correctly. In this paper, we developed an intelligent cane (IntelliCane) so as to help individuals in their rehabilitation process and provide feedback to the users. The first stage of the paper involves an analysis of the existing systems on the market and what can be improved. The second stage presents the design of the system. The third part, which is still under development is the validation of the system in real world setups with people in need. This paper presents mainly stages one and two.

Keywords: IntelliCane, 3D printing, microprocessor, weight measurement, rehabilitation tool

Procedia PDF Downloads 244

Authors: Xuelian Qin

Abstract:

Urban "organic renewal" based on the development of existing resources in high-density urban areas has become the mainstream of urban development in the new era. As an important stock resource of public space in high-density urban areas, promoting its value remodeling is an effective way to alleviate the shortage of public space resources. However, due to the lack of evaluation links in the process of underpass space renewal, a large number of underpass space resources have been left idle, facing the problems of low space conversion efficiency, lack of accuracy in development decision-making, and low adaptability of functional positioning to citizens' needs. Therefore, it is of great practical significance to construct the evaluation system of under-bridge space renewal potential and explore the renewal mode. In this paper, some of the under-bridge spaces in the main urban area of Chongqing are selected as the research object. Through the questionnaire interviews with the users of the built excellent space under the bridge, three types of six levels and twenty-two potential evaluation indexes of "objective demand factor, construction feasibility factor and construction suitability factor" are selected, including six levels of land resources, infrastructure, accessibility, safety, space quality and ecological environment. The analytical hierarchy process and expert scoring method are used to determine the index weight, construct the potential evaluation system of the space under the bridge in high-density urban areas of Chongqing, and explore the direction of renewal and utilization of its suitability. To provide feasible theoretical basis and scientific decision support for the use of under bridge space in the future.

Keywords: high density urban area, potential evaluation, space under bridge, updated using

Procedia PDF Downloads 95

Authors: Xian Li, Qing-Guo Wang, Jiangshuai Huang, Jidong Liu, Ming Yu, Tan Kok Poh

Abstract:

In power industry, accurate electricity demand forecasting for a certain leading time is important for system operation and control, etc. In this paper, we investigate the modeling and forecasting of Singapore’s electricity demand. Several standard models, such as HWT exponential smoothing model, the ARMA model and the ANNs model have been proposed based on historical demand data. We applied them to Singapore electricity market and proposed three refinements based on simulation to improve the modeling accuracy. Compared with existing models, our refined model can produce better forecasting accuracy. It is demonstrated in the simulation that by adding forecasting error into the forecasting equation, the modeling accuracy could be improved greatly.

Keywords: power industry, electricity demand, modeling, forecasting

Procedia PDF Downloads 640

Authors: Yazan Khalid Abed-Allah Migdadi

Abstract:

The aim of this study is identifying the effective operations competitive advantages of mobile phone service providers across countries. All Arab countries in the Middle East region were surveyed except Syria, and 27 out of 31 service providers were surveyed. Data collected from corporations’ annual reports, websites and other professional institutions published sources. Multiple linear regression analysis test was used to identify the relationship between operations competitive advantages and market share. The effective operations competitive advantages were; diversity of offers and service accessibility

Keywords: competitive advantage, mobile telecommunication operations, Middle East, service provider

Procedia PDF Downloads 397

Authors: Anette Alén

Abstract:

Intellectual property (IP) regimes have traditionally been designed to integrate various conflicting elements stemming from private entitlement and the public good. In IP laws and regulations, this design takes the form of specific uses of protected subject-matter without the right-holder’s consent, or exhaustion of exclusive rights upon market release, and the like. More recently, the pursuit of ‘balance’ has gained ground in the conceptualization of these conflicting elements both in terms of IP law and related policy. This can be seen, for example, in European Union (EU) copyright regime, where ‘balance’ has become a key element in argumentation, backed up by fundamental rights reasoning. This development also entails an ever-expanding dialogue between the IP regime and the constitutional safeguards for property, free speech, and privacy, among others. This study analyses the concept of ‘balance’ in EU copyright law: the research task is to examine the contents of the concept of ‘balance’ and the way it is operationalized and pursued, thereby producing new knowledge on the role and manifestations of ‘balance’ in recent copyright case law and regulatory instruments in the EU. The study discusses two particular pieces of legislation, the EU Digital Single Market (DSM) Copyright Directive (EU) 2019/790 and the finalized EU Artificial Intelligence (AI) Act, including some of the key preparatory materials, as well as EU Court of Justice (CJEU) case law pertaining to copyright in the digital era. The material is examined by means of document analysis, mapping the ways ‘balance’ is approached and conceptualized in the documents. Similarly, the interaction of fundamental rights as part of the balancing act is also analyzed. Doctrinal study of law is also employed in the analysis of legal sources. This study suggests that the pursuit of balance is, for its part, conducive to new battles, largely due to the advancement of digitalization and more recent developments in artificial intelligence. Indeed, the ‘balancing act’ rather presents itself as a way to bypass or even solidify some of the conflicting interests in a complex global digital economy. Indeed, such a conceptualization, especially when accompanied by non-critical or strategically driven fundamental rights argumentation, runs counter to the genuine acknowledgment of new types of conflicting interests in the copyright regime. Therefore, a more radical approach, including critical analysis of the normative basis and fundamental rights implications of the concept of ‘balance’, is required to readjust copyright law and regulations for the digital era. Notwithstanding the focus on executing the study in the context of the EU copyright regime, the results bear wider significance for the digital economy, especially due to the platform liability regime in the DSM Directive and with the AI Act including objectives of a ‘level playing field’ whereby compliance with EU copyright rules seems to be expected among system providers.

Keywords: balance, copyright, fundamental rights, platform liability, artificial intelligence

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Authors: Tae Young Jin, Jin Soo Kim

Abstract:

Carbon emissions have emerged as global concerns. Intergovernmental Panel of Climate Change (IPCC) have published reports about Green House Gases (GHGs) emissions regularly. United Nations Framework Convention on Climate Change (UNFCCC) have held a conference yearly since 1995. Especially, COP21 held at December 2015 made the Paris agreement which have strong binding force differently from former COP. The Paris agreement was ratified as of 4 November 2016, they finally have legal binding. Participating countries set up their own Intended Nationally Determined Contributions (INDC), and will try to achieve this. Thus, carbon emissions must be reduced. The energy sector is one of most responsible for carbon emissions and fossil fuels particularly are. Thus, this paper attempted to examine the relationship between natural gas consumption and economic growth. To achieve this, we adopted the Cobb-Douglas production function that consists of natural gas consumption, economic growth, capital, and labor using dependent panel analysis. Data were preprocessed with Principal Component Analysis (PCA) to remove cross-sectional dependency which can disturb the panel results. After confirming the existence of time-trended component of each variable, we moved to cointegration test considering cross-sectional dependency and structural breaks to describe more realistic behavior of volatile international indicators. The cointegration test result indicates that there is long-run equilibrium relationship between selected variables. Long-run cointegrating vector and Granger causality test results show that while natural gas consumption can contribute economic growth in the short-run, adversely affect in the long-run. From these results, we made following policy implications. Since natural gas has positive economic effect in only short-run, the policy makers in developing countries must consider the gradual switching of major energy source, from natural gas to sustainable energy source. Second, the technology transfer and financing business suggested by COP must be accelerated. Acknowledgement—This work was supported by the Energy Efficiency & Resources Core Technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20152510101880) and by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-205S1A3A2046684).

Keywords: developing countries, economic growth, natural gas consumption, panel data analysis

Procedia PDF Downloads 234

Authors: Roberta Martino, Viviana Ventre

Abstract:

From a theoretical point of view, the relationship between the risk associated with an investment and the expected value are directly proportional, in the sense that the market allows a greater result to those who are willing to take a greater risk. However, empirical evidence proves that this relationship is distorted in the minds of investors and is perceived exactly the opposite. To deepen and understand the discrepancy between the actual actions of the investor and the theoretical predictions, this paper analyzes the essential parameters used for the valuation of financial assets with greater attention to two elements: probability and the passage of time. Although these may seem at first glance to be two distinct elements, they are closely related. In particular, the error in the theoretical description of the relationship between risk and return lies in the failure to consider the impatience that is generated in the decision-maker when events that have not yet happened occur in the decision-making context. In this context, probability loses its objective meaning and in relation to the psychological aspects of the investor, it can only be understood as the degree of confidence that the investor has in the occurrence or non-occurrence of an event. Moreover, the concept of objective probability does not consider the inter-temporality that characterizes financial activities and does not consider the condition of limited cognitive capacity of the decision maker. Cognitive psychology has made it possible to understand that the mind acts with a compromise between quality and effort when faced with very complex choices. To evaluate an event that has not yet happened, it is necessary to imagine that it happens in your head. This projection into the future requires a cognitive effort and is what differentiates choices under conditions of risk and choices under conditions of uncertainty. In fact, since the receipt of the outcome in choices under risk conditions is imminent, the mechanism of self-projection into the future is not necessary to imagine the consequence of the choice and the decision makers dwell on the objective analysis of possibilities. Financial activities, on the other hand, develop over time and the objective probability is too static to consider the anticipatory emotions that the self-projection mechanism generates in the investor. Assuming that uncertainty is inherent in valuations of events that have not yet occurred, the focus must shift from risk management to uncertainty management. Only in this way the intertemporal dimension of the decision-making environment and the haste generated by the financial market can be cautioned and considered. The work considers an extension of the prospectus theory with the temporal component with the aim of providing a description of the attitude towards risk with respect to the passage of time.

Keywords: impatience, risk aversion, subjective probability, uncertainty

Procedia PDF Downloads 107

Authors: Emmanuel Okine Neokye Serge Dossou Martin Iniga Bortey Nketia Alabi-Doku

Abstract:

Fish stock distribution is greatly influenced by oceanographic environmental conditions. Temporal variations of temperature and other oceanic properties, resulting from climate change have been documented to have a strong impact on fisheries and aquaculture. In Ghana, Sardinella species are one of the most important fisheries resources; they constitute about 60% of the total catch of coastal fisheries and are more predominant during the upwelling season. The present study investigated the role of physical oceanographic environmental conditions in the catches of Sardinella species: S. aurita and S. maderensis, which were landed in Ghana. Furthermore, we examined the relationship between environmental conditions and catches of Sardinella species for seasonal and interannual variations between 2005 and 2015. For oceanographic environmental factors, we used comprehensive datasets, which consist of :(1) daily in situ SST data obtained at two coastal stations in Ghana; (i) Cape 3 Points (4.7° N, -2.09° W) and (ii) Tema (5° N, 0° E), for the period 2005–2015, (2) Monthly SST data (MOAA GPV) from JAMSTEC, and (3) gridded 10 metre wind data from CCMP reanalysis. The analysis of the data collected showed that higher (lower) wind velocity forms stronger (weaker) coastal upwelling that is detected by lower (higher) SST, resulting in a higher (lower) catch of Sardinella spp., in both seasonal and interannual variations. It was also observed that the capture ability of small pelagic fish species such as Sardinella spp. is depend on the intensity of the coastal upwelling. Moreso, the Atlantic Meridional Mode index (climatic index) is now known to be a possible factor to the interannual variation in catch of small pelagic fish species.

Keywords: Sardinella spp., fish, climate change, Ghana

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Authors: Ozge Karayalçin

Abstract:

This study tries to find out the reasons for the integration problems of third generation Dutch-Turkish youngsters by particularly focusing on the socio-cultural and socio-economic situations of these people in the Netherlands. The results obtained from the field research are summed up under four sections. These four sections are education and language, labour market, cultural factors, religion, and nationality. The underlying reasons of the integration problems are reflected from two different perspectives. The first one is the effects of social and economic enforcements implemented on the Turkish immigrant society. The second one is the traditional Turkish values that are quite different from Dutch values. The problems experienced by third generation Turkish origin Dutch youngsters are not one-sided. To conclude, solution-oriented advisements are asserted.

Keywords: acculturation levels, Dutch-Turkish youngsters, integration, transnational migrants, identity conflicts

Procedia PDF Downloads 420

Authors: Renato Figueira Franco

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This paper aims to create a representational information system applied to the securities market, particularly the development of an ontology applied to the analysis of the Key Information Documents of Contracts for Difference. The process of obtaining knowledge and its proper formal representation has raised the attention both from the scientific literature and the capital markets supervisory authorities. The formal knowledge representation is embodied in the construction of ontologies, which are responsible for defining a knowledge base structure of a given scientific domain, facilitating its understanding, and allowing its sharing among the scientific community. The scope of this study is restricted to the analysis of capital markets ontologies in order to capture its structure, semantics and knowledge sharing between people and systems.

Keywords: ontology, financial markets, CFD, PRIIPs, key information documents

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Authors: Carmela Perta

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Among the studies flourished in the field of historical sociolinguistics, mainly in the strand devoted to English history, during its Medieval and early modern phases, multilingual texts had been analysed using theories and models coming from contact linguistics, thus applying synchronic models and approaches to the past. This is true also in the case of contact phenomena which would transcend the writing level involving the language systems implicated in contact processes to the point of perceiving a new variety. This is the case for medieval administrative-commercial texts in which, according to some Scholars, the degree of fusion of Anglo-Norman, Latin and middle English is so high a mixed code emerges, and there are recurrent patterns of mixed forms. Interesting is a collection of multilingual business writings by John Balmayn, an Englishman overseeing a large shipment in Tuscany, namely the Cantelowe accounts. These documents display various analogies with multilingual texts written in England in the same period; in fact, the writer seems to make use of the above-mentioned patterns, with Middle English, Latin, Anglo-Norman, and the newly added Italian. Applying an atomistic yet dynamic approach to the study of contact phenomena, we will investigate these documents, trying to explore the nature of the switching forms they contain from an intra-writer variation perspective. After analysing the accounts and the type of multilingualism in them, we will take stock of the assumed mixed code nature, comparing the characteristics found in this genre with modern assumptions. The aim is to evaluate the possibility to consider the switching forms as core elements of a mixed code, used as professional variety among merchant communities, or whether such texts should be analysed from a switching perspective.

Keywords: historical sociolinguistics, historical code switching, letters, medieval england

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Authors: Shoury Gupta

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Chatbots are a rapidly growing technological trend that has revolutionized the way businesses interact with their customers. With the advancements in artificial intelligence, chatbots can now mimic human-like conversations and provide instant and efficient responses to customer inquiries. In this research paper, we aim to explore the implications of chatbots on the future of globalization for both businesses and consumers. The paper begins by providing an overview of the current state of chatbots in the global market and their growth potential in the future. The focus is on how chatbots have become a valuable tool for businesses looking to expand their global reach, especially in areas with high population density and language barriers. With chatbots, businesses can engage with customers in different languages and provide 24/7 customer service support, creating a more accessible and convenient customer experience. The paper then examines the impact of chatbots on cross-cultural communication and how they can help bridge communication gaps between businesses and consumers from different cultural backgrounds. Chatbots can potentially facilitate cross-cultural communication by offering real-time translations, voice recognition, and other innovative features that can help users communicate effectively across different languages and cultures. By providing more accessible and inclusive communication channels, chatbots can help businesses reach new markets and expand their customer base, making them more competitive in the global market. However, the paper also acknowledges that there are potential drawbacks associated with chatbots. For instance, chatbots may not be able to address complex customer inquiries that require human input. Additionally, chatbots may perpetuate biases if they are programmed with certain stereotypes or assumptions about different cultures. These drawbacks may have significant implications for businesses and consumers alike. To explore the implications of chatbots on the future of globalization in greater detail, the paper provides a thorough review of existing literature and case studies. The review covers topics such as the benefits of chatbots for businesses and consumers, the potential drawbacks of chatbots, and how businesses can mitigate any risks associated with chatbot use. The paper also discusses the ethical considerations associated with chatbot use, such as privacy concerns and the need to ensure that chatbots do not discriminate against certain groups of people. The ethical implications of chatbots are particularly important given the potential for chatbots to be used in sensitive areas such as healthcare and financial services. Overall, this research paper provides a comprehensive analysis of chatbots and their implications for the future of globalization. By exploring both the potential benefits and drawbacks of chatbot use, the paper aims to provide insights into how businesses and consumers can leverage this technology to achieve greater global reach and improve cross-cultural communication. Ultimately, the paper concludes that chatbots have the potential to be a powerful tool for businesses looking to expand their global footprint and improve their customer experience, but that care must be taken to mitigate any risks associated with their use.

Keywords: chatbots, conversational AI, globalization, businesses

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Authors: Chux Gervase Iwu, Simon Nsengimane

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Entrepreneurship stimulates socio-economic development in many countries, if not all. It creates jobs and decreases unemployment and inequality. There are other benefits that are accruable from entrepreneurship, namely the empowerment of women and the promotion of better livelihoods. Innovation has become a weapon for business competition, growth, and sustainability. Paradoxically, it is a threat to businesses because products can be duplicated; new products may decrease the market share of existing ones or delete them from the market. This creates a constant competitive environment that calls for updates, innovation, and the invention of new products and services. Thus, the importance of higher education in instilling a good entrepreneurial mindset in students has become even more critical. It can be argued that the business environment is under enormous pressure from several factors, including the fourth industrial revolution, which calls for the adoption and use of information and communication technology, which is the catalyst for many innovations and organisational changes. Therefore, it is crucial that higher education students are equipped with relevant knowledge and skills to respond effectively to the needs of the business environment and create a vibrant entrepreneurship ecosystem. In South Africa, entrepreneurship education or some form of it has been a privilege for economic and management fields of study, leaving behind other fields. Entrepreneurship should not be limited to business faculties but rather extended to other fields of study. This is perhaps the reason for low levels of entrepreneurship uptake among South African graduates if they are compared with the graduates in other countries. There may be other reasons for the low entrepreneurship uptake. Some of these have been documented in extant literature to include (1) not enough time was spent teaching entrepreneurship in the business faculties, (2) the skills components in the curricula are insufficient, and (3) the overall attitudes/mindsets necessary to establish and run sustainable enterprises seem absent. Therefore, four important areas are recognised as crucial for the effective implementation of entrepreneurship education: policy, private sector engagement, curriculum development, and teacher development. The purpose of this research is to better comprehend the views, aspirations, and expectations of students and faculty members to design an entrepreneurial teaching model for higher education institutions. A qualitative method will be used to conduct a purposive interview with undergraduate and graduate students in select higher institutions. Members of faculty will also be included in the sample as well as, where possible, two or more government personnel responsible for higher education policy development. At present, interpretative analysis is proposed for the analysis of the interviews with the support of Atlas Ti. It is hoped that an entrepreneurship education model in the South African context is realised through this study.

Keywords: entrepreneurship education, higher education institution, graduate unemployment, curriculum development

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Authors: Luay Jum'a

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Many challenges are facing third-party logistics (3PL) providers in the domestic and global markets which create a volatile decision making environment. All these challenges such as managing changes in consumer behaviour, demanding expectations from customers and time compressions have turned into complex problems for 3PL providers. Since the movement towards increased outsourcing outpaces movement towards insourcing, the need to achieve a competitive advantage over competitors in 3PL market increases. This trend continues to grow over the years and as a result, areas of strengths and improvements are highlighted through the analysis of the LSQ factors that lead to B2B customers’ satisfaction which become a priority for 3PL companies. Consequently, 3PL companies are increasingly focusing on the most important issues from the perspective of their customers and relying more on this value of information in making their managerial decisions. Therefore, this study is concerned with providing guidance for improving logistics service quality (LSQ) levels in the context of 3PL industry in Jordan. The study focused on the most important factors in LSQ and used a managerial tool that guides 3PL companies in making LSQ improvements based on a quadrant analysis of two main dimensions: LSQ declared importance and LSQ inferred importance. Although, a considerable amount of research has been conducted to investigate the relationship between logistics service quality (LSQ) and customer satisfaction, there remains a lack of developing managerial tools to aid in the process of LSQ improvement decision-making. Moreover, the main advantage for the companies to use 3PL service providers as a trend is due to the realised percentage of cost reduction on the total cost of logistics operations and the incremental improvement in customer service. In this regard, having a managerial tool that help 3PL service providers in managing the LSQ factors portfolio effectively and efficiently would be a great investment for service providers. One way of suggesting LSQ improvement actions for 3PL service providers is via the adoption of analysis tools that perform attribute categorisation such as Importance–Performance matrix. In mind of the above, it can be stated that the use of quadrant analysis will provide a valuable opportunity for 3PL service providers to identify improvement opportunities as customer service attributes or factors importance are identified in two different techniques that complete each other. Moreover, the data were collected through conducting a survey and 293 questionnaires were returned from business-to-business (B2B) customers of 3PL companies in Jordan. The results showed that the LSQ factors vary in their importance and 3PL companies should focus on some LSQ factors more than other factors. Moreover, ordering procedures, timeliness/responsiveness LSQ factors considered being crucial in 3PL businesses and therefore they need to have more focus and development by 3PL service providers in the Jordanian market.

Keywords: logistics service quality, managerial decisions, quadrant analysis, third party logistics service provider

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Authors: Atef Aladwan

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This research will focus on stimulating greater freedom and facilitating small and medium-sized enterprises (SMEs) in Jordan to create jobs, as it is emerging as a key development issue. It will highlight the importance of integrating SMEs into development strategies. Jordan has potentially a large market for its products as a result of proximity to developed country markets, signing of various free trades agreements with European countries, cheap energy sources and vast sovereign funds willing to invest in the development of local enterprises. It is beginning to be accepted by governments that SMEs rather than government need to be the main player in domestic economic activity, especially as providers of employment opportunities, and hence generators of sources of income for many households. To foster SME development, it is generally recognised that reforms are needed in Jordan in order to bring about a more globally competitive and business-friendly environment.

Keywords: SMEs, competitiveness, entrepreneurship, jordan, development

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Authors: Anandkumar Rshindhe

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Patents are considered as good monopoly in India. It is a mechanism by which the inventor is encouraged to do invention and also to make available to the society at large with a new useful technology. Patent system does not provide any protection to the invention itself but to the claims (rights) which the patentee has identified in relation to his invention. Thus the patentee is granted monopoly to the extent of his recognition of his own rights in the form of utilities and all other utilities of invention are for the public. Thus we find both benefit to the inventor and the public at large that is the ultimate consumer. But developing any such technology is not free of cost. Inventors do a lot of investment in the coming out with a new technologies. One such example if of Pharmaceutical industries. These pharmaceutical Industries do lot of research and invest lot of money, time and labour in coming out with these invention. Once invention is done or process identified, in order to protect it, inventors approach Patent system to protect their rights in the form of claim over invention. The patent system takes its own time in giving recognition to the invention as patent. Even after the grant of patent the pharmaceutical companies need to comply with many other legal formalities to launch it as a drug (medicine) in market. Thus major portion in patent term is unproductive to patentee and whatever limited period the patentee gets would be not sufficient to recover the cost involved in invention and as a result price of patented product is raised very much, just to recover the cost of invent. This is ultimately a burden on consumer who is paying more only because the legislature has failed to provide for the delay and loss caused to patentee. This problem can be effectively remedied if Patent Term extension is done. Due to patent term extension, the inventor gets some more time in recovering the cost of invention. Thus the end product is much more cheaper compared to non patent term extension.The basic question here arises is that when the patent period granted to a patentee is only 20 years and out of which a major portion is spent in complying with necessary legal formalities before making the medicine available in market, does the company with the limited period of monopoly recover its investment made for doing research. Further the Indian patent Act has certain provisions making it mandatory on the part of patentee to make its patented invention at reasonable affordable price in India. In the light of above questions whether extending the term of patent would be a proper solution and a necessary requirement to protect the interest of patentee as well as the ultimate consumer. The basic objective of this paper would be to check the implications of Extending the Patent term on Indian Consumers. Whether it provides the benefits to the patentee, consumer or a hardship to the Generic industry and consumer.

Keywords: patent term extention, consumer interest, generic drug industry, pharmaceutical industries

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