Search results for: construction risk assessment model
25962 Determining a Sustainability Business Model Using Materiality Matrices in an Electricity Bus Factory
Authors: Ozcan Yavas, Berrak Erol Nalbur, Sermin Gunarslan
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A materiality matrix is a tool that organizations use to prioritize their activities and adapt to the increasing sustainability requirements in recent years. For the materiality index to move from business models to the sustainability business model stage, it must be done with all partners in the raw material, supply, production, product, and end-of-life product stages. Within the scope of this study, the Materiality Matrix was used to transform the business model into a sustainability business model and to create a sustainability roadmap in a factory producing electric buses. This matrix determines the necessary roadmap for all stakeholders to participate in the process, especially in sectors that produce sustainable products, such as the electric vehicle sector, and to act together with the cradle-to-cradle approach of sustainability roadmaps. Global Reporting Initiative analysis was used in the study conducted with 1150 stakeholders within the scope of the study, and 43 questions were asked to the stakeholders under the main headings of 'Legal Compliance Level,' 'Environmental Strategies,' 'Risk Management Activities,' 'Impact of Sustainability Activities on Products and Services,' 'Corporate Culture,' 'Responsible and Profitable Business Model Practices' and 'Achievements in Leading the Sector' and Economic, Governance, Environment, Social and Other. The results of the study aimed to include five 1st priority issues and four 2nd priority issues in the sustainability strategies of the organization in the short and medium term. When the studies carried out in the short term are evaluated in terms of Sustainability and Environmental Risk Management, it is seen that the studies are still limited to the level of legal legislation (60%) and individual studies in line with the strategies (20%). At the same time, the stakeholders expect the company to integrate sustainability activities into its business model within five years (35%) and to carry out projects to become the first company that comes to mind with its success leading the sector (20%). Another result obtained within the study's scope is identifying barriers to implementation. It is seen that the most critical obstacles identified by stakeholders with climate change and environmental impacts are financial deficiency and lack of infrastructure in the dissemination of sustainable products. These studies are critical for transitioning to sustainable business models for the electric vehicle sector to achieve the EU Green Deal and CBAM targets.Keywords: sustainability business model, materiality matrix, electricity bus, carbon neutrality, sustainability management
Procedia PDF Downloads 6125961 Effects of Kinesio Taping on Postural Stability in Young Soccer Players
Authors: Mustafa Gulsen, Nihan Pekyavas, Emine Atıcı
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Purpose: The aim of this study is to investigate the effects of Kinesio taping on postural stability and in young soccer players. Subjects and Methods: 62 volunteered soccer players from Cayyolu Sports Club were included in our study. Permissions were also taken from the club directors about the inclusion of their players to our study. Soccer players between the age of 12 and 16 were included in our study. Players that had previous injury on lower extremities were excluded from the study. Players were randomly divided into two groups: Kinesio taping (KT) (n=31), and control group (n = 31). KT application including gastrocnemius and quadriceps femoris muscle facilitation techniques were applied to the first group. A rest time for 45 minutes was given in order to see the best effectiveness of the tape. The second group was set as the control group and no application was made. All participants were assessed before the application and 45 minutes later. In order to provide the double-blind design of the study, an experienced physiotherapist has done the assessments and another experienced physiotherapist has done the taping. The patients were randomly assigned to one of the two groups using an online random allocation software program. Postural stability was assessed by using Tetrax Interactive Balance System. Thermographic assessment was done by using FLIR E5 (FLIR Systems AB, Sweden) thermal camera in order to see which muscles have the most thermal activity while maintaining postural stability. Results: Statistically significant differences were found in all assessment parameters in both Kinesio Taping and control groups (all p<0.05) except thermal imaging of dominant gastrocnemius muscle results (p=0.668) (Table 1). In comparison of the two groups, statistically significant differences were found in all parameters (all p<0.05). Conclusion: In this study, we investigated the effects of Kinesio taping on postural stability in young soccer players and found that KT application on Quadriceps and Gastrocnemius muscles may have decreased the risk of falling more than the control group. According to thermal imaging assessments, both Quadriceps and Gastrocnemius muscles may be active in maintaining postural stability but in KT group, the temperature of these muscles are higher which leads us to think that they are more activated.Keywords: Kinesio taping, fall risk, muscle temperature, postural stability
Procedia PDF Downloads 24125960 Following the Caravans: Interdisciplinary Study to Integrate Chinese and African Relations in Ethiopia
Authors: E. Mattio
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The aim of this project is to study the Chinese presence in Ethiopia, following the path of the last salt caravans from Danakil to Tigray region. Official estimates of the number of Chinese in Africa vary widely; on the continent, there are increasingly diverse groups of Chinese migrants in terms of language, dialect, class, education, and employment. Based on this and on a very general state of the art, it was decided to increase the studies on this phenomenon, documenting the extraction of salt and following the sellers in the north of the country. The project is unique and allows you to admire a landscape that will soon change, due to the construction of infrastructure that is changing the dynamics of movement and sales. To carry out this study, interdisciplinary investigation methods were integrated, such as landscape archeology, historiographic research, participatory anthropology, geopolitics, and cultural anthropology and ethnology. There are two main objectives of the research. The first was an analysis of risk perceptions to predict what will happen to these populations and how the territory will be modified, trying to monitor the growth of infrastructure in the country and the effects it will have on the population. Thanks to the use of GIS, some roads created by Chinese companies that worked in the area have been georeferenced. The second point was to document the life and rituals of Ethiopian populations, in order not to lose the aspects of uniqueness that risk being lost. The local interviews have garnered impressions and criticisms from the local population to understand whether the Chinese presence is perceived as a threat or a solution. Among the most exclusive interviews, there are those made to Afar leaders in the Logya area and some Coptic representatives in the Wukro area. To make this project even more unique, the Coptic rituals of Gennà and Timkat have been documented, unique expressions of a millennial tradition. The aim was to understand whether the Maoist presence began to influence the religious rites and forms of belief present in the country.Keywords: China, Ethiopia, GIS, risk perceptions
Procedia PDF Downloads 15825959 The Leadership Criterion: Challenges in Pursuing Excellence in the Jordanian Public Sector
Authors: Shaker Aladwan, Paul Forrester
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This paper explores the challenges that face leaders when implementing business excellence programmes in the Jordanian public sector. The study adopted a content analysis approach to analyse the excellence assessment reports that have been produced by the King Abdullah II Centre for Excellence (KACE). The sample comprises ten public organisations which have participated in the King Abdullah Award for Excellence (KAA) more than once and acknowledge in their reports that they have failed to achieve satisfactory results. The key challenges to the implementation of leadership criteria in the public sector in Jordan were found to be poor strategic planning, lack of employee empowerment, weaknesses in benchmarking performance, a lack of financial resources, poor integration and coordination, and poor measurement system: This study proposes a conceptual model for the as assessment of challenges that face managers when seeking to implement excellence in leadership in the Jordanian public sector. Theoretically, this paper fills context gaps in the excellence literature in general and organisational excellence in the public sector in particular. Leadership challenges in the public sector are generally widely studied, but it is important to gain a better understanding of how these challenges can be overcome. In comparison to many existing studies, this research has provided specific and detailed insights these organisational excellence challenges in the public sector and provides a conceptual model for use by other researchers into the future.Keywords: leadership criterion, organisational excellence, challenges, quality awards, public sector, Jordan
Procedia PDF Downloads 39025958 Next Generation UK Storm Surge Model for the Insurance Market: The London Case
Authors: Iacopo Carnacina, Mohammad Keshtpoor, Richard Yablonsky
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Non-structural protection measures against flooding are becoming increasingly popular flood risk mitigation strategies. In particular, coastal flood insurance impacts not only private citizens but also insurance and reinsurance companies, who may require it to retain solvency and better understand the risks they face from a catastrophic coastal flood event. In this context, a framework is presented here to assess the risk for coastal flooding across the UK. The area has a long history of catastrophic flood events, including the Great Flood of 1953 and the 2013 Cyclone Xaver storm, both of which led to significant loss of life and property. The current framework will leverage a technology based on a hydrodynamic model (Delft3D Flexible Mesh). This flexible mesh technology, coupled with a calibration technique, allows for better utilisation of computational resources, leading to higher resolution and more detailed results. The generation of a stochastic set of extra tropical cyclone (ETC) events supports the evaluation of the financial losses for the whole area, also accounting for correlations between different locations in different scenarios. Finally, the solution shows a detailed analysis for the Thames River, leveraging the information available on flood barriers and levees. Two realistic disaster scenarios for the Greater London area are simulated: In the first scenario, the storm surge intensity is not high enough to fail London’s flood defences, but in the second scenario, London’s flood defences fail, highlighting the potential losses from a catastrophic coastal flood event.Keywords: storm surge, stochastic model, levee failure, Thames River
Procedia PDF Downloads 23225957 ViraPart: A Text Refinement Framework for Automatic Speech Recognition and Natural Language Processing Tasks in Persian
Authors: Narges Farokhshad, Milad Molazadeh, Saman Jamalabbasi, Hamed Babaei Giglou, Saeed Bibak
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The Persian language is an inflectional subject-object-verb language. This fact makes Persian a more uncertain language. However, using techniques such as Zero-Width Non-Joiner (ZWNJ) recognition, punctuation restoration, and Persian Ezafe construction will lead us to a more understandable and precise language. In most of the works in Persian, these techniques are addressed individually. Despite that, we believe that for text refinement in Persian, all of these tasks are necessary. In this work, we proposed a ViraPart framework that uses embedded ParsBERT in its core for text clarifications. First, used the BERT variant for Persian followed by a classifier layer for classification procedures. Next, we combined models outputs to output cleartext. In the end, the proposed model for ZWNJ recognition, punctuation restoration, and Persian Ezafe construction performs the averaged F1 macro scores of 96.90%, 92.13%, and 98.50%, respectively. Experimental results show that our proposed approach is very effective in text refinement for the Persian language.Keywords: Persian Ezafe, punctuation, ZWNJ, NLP, ParsBERT, transformers
Procedia PDF Downloads 21825956 Evaluation of Soil Erosion Risk and Prioritization for Implementation of Management Strategies in Morocco
Authors: Lahcen Daoudi, Fatima Zahra Omdi, Abldelali Gourfi
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In Morocco, as in most Mediterranean countries, water scarcity is a common situation because of low and unevenly distributed rainfall. The expansions of irrigated lands, as well as the growth of urban and industrial areas and tourist resorts, contribute to an increase of water demand. Therefore in the 1960s Morocco embarked on an ambitious program to increase the number of dams to boost water retention capacity. However, the decrease in the capacity of these reservoirs caused by sedimentation is a major problem; it is estimated at 75 million m3/year. Dams and reservoirs became unusable for their intended purposes due to sedimentation in large rivers that result from soil erosion. Soil erosion presents an important driving force in the process affecting the landscape. It has become one of the most serious environmental problems that raised much interest throughout the world. Monitoring soil erosion risk is an important part of soil conservation practices. The estimation of soil loss risk is the first step for a successful control of water erosion. The aim of this study is to estimate the soil loss risk and its spatial distribution in the different fields of Morocco and to prioritize areas for soil conservation interventions. The approach followed is the Revised Universal Soil Loss Equation (RUSLE) using remote sensing and GIS, which is the most popular empirically based model used globally for erosion prediction and control. This model has been tested in many agricultural watersheds in the world, particularly for large-scale basins due to the simplicity of the model formulation and easy availability of the dataset. The spatial distribution of the annual soil loss was elaborated by the combination of several factors: rainfall erosivity, soil erodability, topography, and land cover. The average annual soil loss estimated in several basins watershed of Morocco varies from 0 to 50t/ha/year. Watersheds characterized by high-erosion-vulnerability are located in the North (Rif Mountains) and more particularly in the Central part of Morocco (High Atlas Mountains). This variation of vulnerability is highly correlated to slope variation which indicates that the topography factor is the main agent of soil erosion within these basin catchments. These results could be helpful for the planning of natural resources management and for implementing sustainable long-term management strategies which are necessary for soil conservation and for increasing over the projected economic life of the dam implemented.Keywords: soil loss, RUSLE, GIS-remote sensing, watershed, Morocco
Procedia PDF Downloads 46225955 Bias Minimization in Construction Project Dispute Resolution
Authors: Keyao Li, Sai On Cheung
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Incorporation of alternative dispute resolution (ADR) mechanism has been the main feature of current trend of construction project dispute resolution (CPDR). ADR approaches have been identified as efficient mechanisms and are suitable alternatives to litigation and arbitration. Moreover, the use of ADR in this multi-tiered dispute resolution process often leads to repeated evaluations of a same dispute. Multi-tiered CPDR may become a breeding ground for cognitive biases. When completed knowledge is not available at the early tier of construction dispute resolution, disputing parties may form preconception of the dispute matter or the counterpart. This preconception would influence their information processing in the subsequent tier. Disputing parties tend to search and interpret further information in a self-defensive way to confirm their early positions. Their imbalanced information collection would boost their confidence in the held assessments. Their attitudes would be hardened and difficult to compromise. The occurrence of cognitive bias, therefore, impedes efficient dispute settlement. This study aims to explore ways to minimize bias in CPDR. Based on a comprehensive literature review, three types of bias minimizing approaches were collected: strategy-based, attitude-based and process-based. These approaches were further operationalized into bias minimizing measures. To verify the usefulness and practicability of these bias minimizing measures, semi-structured interviews were conducted with ten CPDR third party neutral professionals. All of the interviewees have at least twenty years of experience in facilitating settlement of construction dispute. The usefulness, as well as the implications of the bias minimizing measures, were validated and suggested by these experts. There are few studies on cognitive bias in construction management in general and in CPDR in particular. This study would be the first of its type to enhance the efficiency of construction dispute resolution by highlighting strategies to minimize the biases therein.Keywords: bias, construction project dispute resolution, minimization, multi-tiered, semi-structured interview
Procedia PDF Downloads 18625954 Integrating Blogging into Peer Assessment on College Students’ English Writing
Authors: Su-Lien Liao
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Most of college students in Taiwan do not have sufficient English proficiency to express themselves in written English. Teachers spent a lot of time correcting students’ English writing, but the results are not satisfactory. This study aims to use blogs as a teaching and learning tool in written English. Before applying peer assessment, students should be trained to be good reviewers. The teacher starts the course by posting the error analysis of students’ first English composition on blogs as the comment models for students. Then the students will go through the process of drafting, composing, peer response and last revision on blogs. Evaluation Questionnaires and interviews will be conducted at the end of the course to see the impact and students’ perception for the course.Keywords: blog, peer assessment, English writing, error analysis
Procedia PDF Downloads 42225953 Risk of Fractures at Different Anatomic Sites in Patients with Irritable Bowel Syndrome: A Nationwide Population-Based Cohort Study
Authors: Herng-Sheng Lee, Chi-Yi Chen, Wan-Ting Huang, Li-Jen Chang, Solomon Chih-Cheng Chen, Hsin-Yi Yang
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A variety of gastrointestinal disorders, such as Crohn’s disease, ulcerative colitis, and coeliac disease, are recognized as risk factors for osteoporosis and osteoporotic fractures. One recent study suggests that individuals with irritable bowel syndrome (IBS) might also be at increased risk of osteoporosis and osteoporotic fractures. Up to now, the association between IBS and the risk of fractures at different anatomic sites occurrences is not completely clear. We conducted a population-based cohort analysis to investigate the fracture risk of IBS in comparison with non-IBS group. We identified 29,505 adults aged ≥ 20 years with newly diagnosed IBS using the Taiwan National Health Insurance Research Database in 2000-2012. A comparison group was constructed of patients without IBS who were matched according to gender and age. The occurrence of fracture was monitored until the end of 2013. We analyzed the risk of fracture events to occur in IBS by using Cox proportional hazards regression models. Patients with IBS had a higher incidence of osteoporotic fractures compared with non-IBS group (12.34 versus 9.45 per 1,000 person-years) and an increased risk of osteoporotic fractures (adjusted hazard ratio [aHR] = 1.27, 95 % confidence interval [CI] = 1.20 – 1.35). Site specific analysis showed that the IBS group had a higher risk of fractures for spine, forearm, hip and hand than did the non-IBS group. With further stratification for gender and age, a higher aHR value for osteoporotic fractures in IBS group was seen across all age groups in males, but seen in elderly females. In addition, female, elderly, low income, hypertension, coronary artery disease, cerebrovascular disease, and depressive disorders as independent osteoporotic fracture risk factors in IBS patients. The IBS is considered as a risk factor for osteoporotic fractures, particularly in female individuals and fracture sites located at the spine, forearm, hip and hand.Keywords: irritable bowel syndrome, fracture, gender difference, longitudinal health insurance database, public health
Procedia PDF Downloads 22925952 Comparison of Risk Analysis Methodologies Through the Consequences Identification in Chemical Accidents Associated with Dangerous Flammable Goods Storage
Authors: Daniel Alfonso Reséndiz-García, Luis Antonio García-Villanueva
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As a result of the high industrial activity, which arises from the search to satisfy the needs of products and services for society, several chemical accidents have occurred, causing serious damage to different sectors: human, economic, infrastructure and environmental losses. Historically, with the study of this chemical accidents, it has been determined that the causes are mainly due to human errors (inexperienced personnel, negligence, lack of maintenance and deficient risk analysis). The industries have the aim to increase production and reduce costs. However, it should be kept in mind that the costs involved in risk studies, implementation of barriers and safety systems is much cheaper than paying for the possible damages that could occur in the event of an accident, without forgetting that there are things that cannot be replaced, such as human lives.Therefore, it is of utmost importance to implement risk studies in all industries, which provide information for prevention and planning. The aim of this study is to compare risk methodologies by identifying the consequences of accidents related to the storage of flammable, dangerous goods for decision making and emergency response.The methodologies considered in this study are qualitative and quantitative risk analysis and consequence analysis. The latter, by means of modeling software, which provides radius of affectation and the possible scope and magnitude of damages.By using risk analysis, possible scenarios of occurrence of chemical accidents in the storage of flammable substances are identified. Once the possible risk scenarios have been identified, the characteristics of the substances, their storage and atmospheric conditions are entered into the software.The results provide information that allows the implementation of prevention, detection, control, and combat elements for emergency response, thus having the necessary tools to avoid the occurrence of accidents and, if they do occur, to significantly reduce the magnitude of the damage.This study highlights the importance of risk studies applying tools that best suited to each case study. It also proves the importance of knowing the risk exposure of industrial activities for a better prevention, planning and emergency response.Keywords: chemical accidents, emergency response, flammable substances, risk analysis, modeling
Procedia PDF Downloads 9125951 Case Study Analysis of 2017 European Railway Traffic Management Incident: The Application of System for Investigation of Railway Interfaces Methodology
Authors: Sanjeev Kumar Appicharla
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This paper presents the results of the modelling and analysis of the European Railway Traffic Management (ERTMS) safety-critical incident to raise awareness of biases in the systems engineering process on the Cambrian Railway in the UK using the RAIB 17/2019 as a primary input. The RAIB, the UK independent accident investigator, published the Report- RAIB 17/2019 giving the details of their investigation of the focal event in the form of immediate cause, causal factors, and underlying factors and recommendations to prevent a repeat of the safety-critical incident on the Cambrian Line. The Systems for Investigation of Railway Interfaces (SIRI) is the methodology used to model and analyze the safety-critical incident. The SIRI methodology uses the Swiss Cheese Model to model the incident and identify latent failure conditions (potentially less than adequate conditions) by means of the management oversight and risk tree technique. The benefits of the systems for investigation of railway interfaces methodology (SIRI) are threefold: first is that it incorporates the “Heuristics and Biases” approach advanced by 2002 Nobel laureate in Economic Sciences, Prof Daniel Kahneman, in the management oversight and risk tree technique to identify systematic errors. Civil engineering and programme management railway professionals are aware of the role “optimism bias” plays in programme cost overruns and are aware of bow tie (fault and event tree) model-based safety risk modelling techniques. However, the role of systematic errors due to “Heuristics and Biases” is not appreciated as yet. This overcomes the problems of omission of human and organizational factors from accident analysis. Second, the scope of the investigation includes all levels of the socio-technical system, including government, regulatory, railway safety bodies, duty holders, signaling firms and transport planners, and front-line staff such that lessons are learned at the decision making and implementation level as well. Third, the author’s past accident case studies are supplemented with research pieces of evidence drawn from the practitioner's and academic researchers’ publications as well. This is to discuss the role of system thinking to improve the decision-making and risk management processes and practices in the IEC 15288 systems engineering standard and in the industrial context such as the GB railways and artificial intelligence (AI) contexts as well.Keywords: accident analysis, AI algorithm internal audit, bounded rationality, Byzantine failures, heuristics and biases approach
Procedia PDF Downloads 18825950 Self-Efficacy Perceptions and the Attitudes of Prospective Teachers towards Assessment and Evaluation
Authors: Münevver Başman, Ezel Tavşancıl
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Making the right decisions about students depends on teachers’ use of the assessment and evaluation techniques effectively. In order to do that, teachers should have positive attitudes and adequate self-efficacy perception towards assessment and evaluation. The purpose of this study is to investigate relationship between self-efficacy perception and the attitudes of prospective teachers towards assessment and evaluation and what kind of differences these issues have in terms of a variety of demographic variables. The study group consisted of 277 prospective teachers who have been studying in different departments of Marmara University, Faculty of Education. In this study, ‘Personal Information Form’, ‘A Perceptual Scale for Measurement and Evaluation of Prospective Teachers Self-Efficacy in Education’ and ‘Attitudes toward Educational Measurement Inventory’ are applied. As a result, positive correlation was found between self-efficacy perceptions and the attitudes of prospective teachers towards assessment and evaluation. Considering different departments, there is a significant difference between the mean score of attitudes of prospective teachers and between the mean score of self-efficacy perceptions of them. However, considering variables of attending statistics class and the class types at the graduated high school, there is no significant difference between the mean score of attitudes of prospective teachers and between the mean score of self-efficacy perceptions of them.Keywords: attitude, perception, prospective teacher, self-efficacy
Procedia PDF Downloads 30625949 Using Analytics to Redefine Athlete Resilience
Authors: Phil P. Wagner
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There is an overwhelming amount of athlete-centric information available for sport practitioners in this era of tech and big data, but protocols in athletic rehabilitation remain arbitrary. It is a common assumption that the rate at which tissue heals amongst individuals is the same; yielding protocols that are entirely time-based. Progressing athletes through rehab programs that lack individualization can potentially expose athletes to stimuli they are not prepared for or unnecessarily lengthen their recovery period. A 7-year aggregated and anonymous database was used to develop reliable and valid assessments to measure athletic resilience. Each assessment utilizes force plate technology with proprietary protocols and analysis to provide key thresholds for injury risk and recovery. Using a T score to analyze movement qualities, much like the Z score used for bone density from a Dexa scan, specific prescriptions are provided to mitigate the athlete’s inherent injury risk. In addition to obliging to surgical clearance, practitioners must put in place a clearance protocol guided by standardized assessments and achievement in strength thresholds. In order to truly hold individuals accountable (practitioners, athletic trainers, performance coaches, etc.), success in improving pre-defined key performance indicators must be frequently assessed and analyzed.Keywords: analytics, athlete rehabilitation, athlete resilience, injury prediction, injury prevention
Procedia PDF Downloads 22825948 A Dynamic Approach for Evaluating the Climate Change Risks on Building Performance
Authors: X. Lu, T. Lu, S. Javadi
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A simple dynamic approach is presented for analyzing thermal and moisture dynamics of buildings, which is of particular relevance to understanding climate change impacts on buildings, including assessment of risks and applications of resilience strategies. With the goal to demonstrate the proposed modeling methodology, to verify the model, and to show that wooden materials provide a mechanism that can facilitate the reduction of moisture risks and be more resilient to global warming, a wooden church equipped with high precision measurement systems was taken as a test building for full-scale time-series measurements. Sensitivity analyses indicate a high degree of accuracy in the model prediction regarding the indoor environment. The model is then applied to a future projection of climate indoors aiming to identify significant environmental factors, the changing temperature and humidity, and effective response to the climate change impacts. The paper suggests that wooden building materials offer an effective and resilient response to anticipated future climate changes.Keywords: dynamic model, forecast, climate change impact, wooden structure, buildings
Procedia PDF Downloads 15125947 Investigation on the Energy Impact of Spatial Geometry in a Residential Building Using Building Information Modeling Technology
Authors: Shashank. S. Bagane, H. N. Rajendra Prasad
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Building Information Modeling (BIM) has currently developed into a potent solution. The consistent development of BIM technology in the sphere of Architecture, Engineering, and Construction (AEC) industry has enhanced the effectiveness of construction and decision making. However, aggrandized global warming and energy crisis has impacted on building energy analysis. It is now becoming an important factor to be considered in the AEC industry. Amalgamating energy analysis in the planning and design phase of a structure has become a necessity. In the current construction industry, estimating energy usage and reducing its footprint is of high priority. The construction industry is giving more prominence to sustainability alongside energy efficiency. This demand is compelling the designers, planners, and engineers to inspect the sustainable performance throughout the building's life cycle. The current study primarily focuses on energy consumption, space arrangement, and spatial geometry of a residential building. Most commonly residential structures in India are constructed considering Vastu Shastra. Vastu designs are intended to integrate architecture with nature and utilizing geometric patterns, symmetry, and directional alignments. In the current study, a residential brick masonry structure is considered for BIM analysis, Architectural model of the structure will be created using Revit software, later the orientation and spatial arrangement will be finalized based on Vastu principles. Furthermore, the structure will be investigated for the impact of building orientation and spatial arrangements on energy using Green Building Studio software. Based on the BIM analysis of the structure, energy consumption of subsequent building orientations will be understood. A well-orientated building having good spatial arrangement can save a considerable amount of energy throughout its life cycle and reduces the need for heating and lighting which will prove to diminish energy usage and improve the energy efficiency of the residential building.Keywords: building information modeling, energy impact, spatial geometry, vastu
Procedia PDF Downloads 16125946 Procedure for Impact Testing of Fused Recycled Glass
Authors: David Halley, Tyra Oseng-Rees, Luca Pagano, Juan A Ferriz-Papi
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Recycled glass material is made from 100% recycled bottle glass and consumes less energy than re-melt technology. It also uses no additives in the manufacturing process allowing the recycled glass material, in principal, to go back to the recycling stream after end-of-use, contributing to the circular economy with a low ecological impact. The aim of this paper is to investigate the procedure for testing the recycled glass material for impact resistance, so it can be applied to pavements and other surfaces which are at risk of impact during service. A review of different impact test procedures for construction materials was undertaken, comparing methodologies and international standards applied to other materials such as natural stone, ceramics and glass. A drop weight impact testing machine was designed and manufactured in-house to perform these tests. As a case study, samples of the recycled glass material were manufactured with two different thicknesses and tested. The impact energy was calculated theoretically, obtaining results with 5 and 10 J. The results on the material were subsequently discussed. Improvements on the procedure can be made using high speed video technology to calculate velocity just before and immediately after the impact to know the absorbed energy. The initial results obtained in this procedure were positive although repeatability needs to be developed to obtain a correlation of results and finally be able to validate the procedure. The experiment with samples showed the practicality of this procedure and application to the recycled glass material impact testing although further research needs to be developed.Keywords: construction materials, drop weight impact, impact testing, recycled glass
Procedia PDF Downloads 29625945 The Assessment of Forest Wood Biomass Potential in Terms of Sustainable Development
Authors: Julija Konstantinavičienė, Vlada Vitunskienė
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The role of sustainable biomass, including wood biomass, is becoming more important because of European Green Deal. The New EU Forest strategy is a flagship element of the European Green Deal and a key action on the EU biodiversity strategy for 2030. The first measure of this strategy is promoting sustainable forest management, including encouraging the sustainable use of wood-based resources. The first aim of this research was to develop and present a new approach to the concept of forest wood biomass potential in terms of sustainable development, distinguishing theoretical, technical and sustainable potential and detailing its constraints. The second aim was to prepare the methodology outline of sustainable forest wood biomass potential assessment and empirically check this methodology, considering economic, social and ecological constraints. The basic methodologies of the research: the review of research (with a combination of semi-systematic and integrative review methodologies), rapid assessment method and statistical data analysis. The developed methodology of assessment of forest wood potential in terms of sustainable development can be used in Lithuania and in other countries and will let us compare this potential a different time and spatial levels. The application of the methodology will be able to serve the development of new national strategies for the wood sector.Keywords: assessment, constraints, forest wood biomass, methodology, potential, sustainability
Procedia PDF Downloads 12325944 The Role of Macroeconomic Condition and Volatility in Credit Risk: An Empirical Analysis of Credit Default Swap Index Spread on Structural Models in U.S. Market during Post-Crisis Period
Authors: Xu Wang
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This research builds linear regressions of U.S. macroeconomic condition and volatility measures in the investment grade and high yield Credit Default Swap index spreads using monthly data from March 2009 to July 2016, to study the relationship between different dimensions of macroeconomy and overall credit risk quality. The most significant contribution of this research is systematically examining individual and joint effects of macroeconomic condition and volatility on CDX spreads by including macroeconomic time series that captures different dimensions of the U.S. economy. The industrial production index growth, non-farm payroll growth, consumer price index growth, 3-month treasury rate and consumer sentiment are introduced to capture the condition of real economic activity, employment, inflation, monetary policy and risk aversion respectively. The conditional variance of the macroeconomic series is constructed using ARMA-GARCH model and is used to measure macroeconomic volatility. The linear regression model is conducted to capture relationships between monthly average CDX spreads and macroeconomic variables. The Newey–West estimator is used to control for autocorrelation and heteroskedasticity in error terms. Furthermore, the sensitivity factor analysis and standardized coefficients analysis are conducted to compare the sensitivity of CDX spreads to different macroeconomic variables and to compare relative effects of macroeconomic condition versus macroeconomic uncertainty respectively. This research shows that macroeconomic condition can have a negative effect on CDX spread while macroeconomic volatility has a positive effect on determining CDX spread. Macroeconomic condition and volatility variables can jointly explain more than 70% of the whole variation of the CDX spread. In addition, sensitivity factor analysis shows that the CDX spread is the most sensitive to Consumer Sentiment index. Finally, the standardized coefficients analysis shows that both macroeconomic condition and volatility variables are important in determining CDX spread but macroeconomic condition category of variables have more relative importance in determining CDX spread than macroeconomic volatility category of variables. This research shows that the CDX spread can reflect the individual and joint effects of macroeconomic condition and volatility, which suggests that individual investors or government should carefully regard CDX spread as a measure of overall credit risk because the CDX spread is influenced by macroeconomy. In addition, the significance of macroeconomic condition and volatility variables, such as Non-farm Payroll growth rate and Industrial Production Index growth volatility suggests that the government, should pay more attention to the overall credit quality in the market when macroecnomy is low or volatile.Keywords: autoregressive moving average model, credit spread puzzle, credit default swap spread, generalized autoregressive conditional heteroskedasticity model, macroeconomic conditions, macroeconomic uncertainty
Procedia PDF Downloads 16725943 Assessment of Vehicular Accidents and Possible Mitigation Measures: A Case of Ahmedabad, Gujarat, India
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Rapid urbanization is one of the consequences of rapid population explosion, which has also led to massive increase in number of motorized vehicles essential for carrying out all activities needed for sustaining urban livelihood. With this increased use of motorized vehicles over the time there has also been an increase in number of accidents. Study of road network and geometric features are essential to tackle problems of road accidents in any district or town. The increase in road accidents is one of the burning issues in the present society. Records show that there is one death at every 3.7 minutes because of road accident. It has been found from the research that, accidents occur due to, mistakes of the driver (86%) followed by bad street condition (5%), mistake of pedestrian (4%), as well as technical and maintenance defects (1%). Here, case study of Ahmedabad, Gujarat is taken up where first road safety level is assessed considering various parameters. The study confined to accident characteristics of all types of vehicles. For deeper analysis, road safety index for various stretches in Ahmedabad was found out. Crash rate for same stretches was found out. Based on various parameters priority was decided so that which stretch should be look out first to minimize road accidents on that stretch and which stretch should look out last. The major findings of the study are that accident severity of Ahmedabad has increased, but accident fatality risk has decreased; thus there is need to undertake some traffic engineering measures or make some traffic rules that are strictly followed by traffic. From the above study and literature studied it is found that Ahmedabad is suffering from similar problem of accidents and injuries and deaths caused by them, after properly investigating the issue short-term and long-term solutions to minimize road accidents have been presented in this paper.Keywords: accident severity index, accident fatality rate, accident fatality risk, accident risk, road safety index
Procedia PDF Downloads 14225942 Determining the Extent and Direction of Relief Transformations Caused by Ski Run Construction Using LIDAR Data
Authors: Joanna Fidelus-Orzechowska, Dominika Wronska-Walach, Jaroslaw Cebulski
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Mountain areas are very often exposed to numerous transformations connected with the development of tourist infrastructure. In mountain areas in Poland ski tourism is very popular, so agricultural areas are often transformed into tourist areas. The construction of new ski runs can change the direction and rate of slope development. The main aim of this research was to determine geomorphological and hydrological changes within slopes caused by ski run constructions. The study was conducted in the Remiaszów catchment in the Inner Polish Carpathians (southern Poland). The mean elevation of the catchment is 859 m a.s.l. and the maximum is 946 m a.s.l. The surface area of the catchment is 1.16 km2, of which 16.8% is the area of the two studied ski runs. The studied ski runs were constructed in 2014 and 2015. In order to determine the relief transformations connected with new ski run construction high resolution LIDAR data was analyzed. The general relief changes in the studied catchment were determined on the basis of ALS (Airborne Laser Scanning ) data obtained before (2013) and after (2016) ski run construction. Based on the two sets of ALS data a digital elevation models of differences (DoDs) was created, which made it possible to determine the quantitative relief changes in the entire studied catchment. Additionally, cross and longitudinal profiles were calculated within slopes where new ski runs were built. Detailed data on relief changes within selected test surfaces was obtained based on TLS (Terrestrial Laser Scanning). Hydrological changes within the analyzed catchment were determined based on the convergence and divergence index. The study shows that the construction of the new ski runs caused significant geomorphological and hydrological changes in the entire studied catchment. However, the most important changes were identified within the ski slopes. After the construction of ski runs the entire catchment area lowered about 0.02 m. Hydrological changes in the studied catchment mainly led to the interruption of surface runoff pathways and changes in runoff direction and geometry.Keywords: hydrological changes, mountain areas, relief transformations, ski run construction
Procedia PDF Downloads 14325941 Reducing the Risk of Alcohol Relapse after Liver-Transplantation
Authors: Rebeca V. Tholen, Elaine Bundy
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Background: Liver transplantation (LT) is considered the only curative treatment for end-stage liver disease Background: Liver transplantation (LT) is considered the only curative treatment for end-stage liver disease (ESLD). The effects of alcoholism can cause irreversible liver damage, cirrhosis and subsequent liver failure. Alcohol relapse after transplant occurs in 20-50% of patients and increases the risk for recurrent cirrhosis, organ rejection, and graft failure. Alcohol relapse after transplant has been identified as a problem among liver transplant recipients at a large urban academic transplant center in the United States. Transplantation will reverse the complications of ESLD, but it does not treat underlying alcoholism or reduce the risk of relapse after transplant. The purpose of this quality improvement project is to implement and evaluate the effectiveness of a High-Risk Alcoholism Relapse (HRAR) Scale to screen and identify patients at high-risk for alcohol relapse after receiving an LT. Methods: The HRAR Scale is a predictive tool designed to determine the severity of alcoholism and risk of relapse after transplant. The scale consists of three variables identified as having the highest predictive power for early relapse including, daily number of drinks, history of previous inpatient treatment for alcoholism, and the number of years of heavy drinking. All adult liver transplant recipients at a large urban transplant center were screened with the HRAR Scale prior to hospital discharge. A zero to two ordinal score is ranked for each variable, and the total score ranges from zero to six. High-risk scores are between three to six. Results: Descriptive statistics revealed 25 patients were newly transplanted and discharged from the hospital during an 8-week period. 40% of patients (n=10) were identified as being high-risk for relapse and 60% low-risk (n=15). The daily number of drinks were determined by alcohol content (1 drink = 15g of ethanol) and number of drinks per day. 60% of patients reported drinking 9-17 drinks per day, and 40% reported ≤ 9 drinks. 50% of high-risk patients reported drinking ≥ 25 years, 40% for 11-25 years, and 10% ≤ 11 years. For number of inpatient treatments for alcoholism, 50% received inpatient treatment one time, 20% ≥ 1, and 30% reported never receiving inpatient treatment. Findings reveal the importance and value of a validated screening tool as a more efficient method than other screening methods alone. Integration of a structured clinical tool will help guide the drinking history portion of the psychosocial assessment. Targeted interventions can be implemented for all high-risk patients. Conclusions: Our findings validate the effectiveness of utilizing the HRAR scale to screen and identify patients who are a high-risk for alcohol relapse post-LT. Recommendations to help maintain post-transplant sobriety include starting a transplant support group within the organization for all high-risk patients. (ESLD). The effects of alcoholism can cause irreversible liver damage, cirrhosis and subsequent liver failure. Alcohol relapse after transplant occurs in 20-50% of patients, and increases the risk for recurrent cirrhosis, organ rejection, and graft failure. Alcohol relapse after transplant has been identified as a problem among liver transplant recipients at a large urban academic transplant center in the United States. Transplantation will reverse the complications of ESLD, but it does not treat underlying alcoholism or reduce the risk of relapse after transplant. The purpose of this quality improvement project is to implement and evaluate the effectiveness of a High-Risk Alcoholism Relapse (HRAR) Scale to screen and identify patients at high-risk for alcohol relapse after receiving a LT. Methods: The HRAR Scale is a predictive tool designed to determine severity of alcoholism and risk of relapse after transplant. The scale consists of three variables identified as having the highest predictive power for early relapse including, daily number of drinks, history of previous inpatient treatment for alcoholism, and the number of years of heavy drinking. All adult liver transplant recipients at a large urban transplant center were screened with the HRAR Scale prior to hospital discharge. A zero to two ordinal score is ranked for each variable, and the total score ranges from zero to six. High-risk scores are between three to six. Results: Descriptive statistics revealed 25 patients were newly transplanted and discharged from the hospital during an 8-week period. 40% of patients (n=10) were identified as being high-risk for relapse and 60% low-risk (n=15). The daily number of drinks were determined by alcohol content (1 drink = 15g of ethanol) and number of drinks per day. 60% of patients reported drinking 9-17 drinks per day, and 40% reported ≤ 9 drinks. 50% of high-risk patients reported drinking ≥ 25 years, 40% for 11-25 years, and 10% ≤ 11 years. For number of inpatient treatments for alcoholism, 50% received inpatient treatment one time, 20% ≥ 1, and 30% reported never receiving inpatient treatment. Findings reveal the importance and value of a validated screening tool as a more efficient method than other screening methods alone. Integration of a structured clinical tool will help guide the drinking history portion of the psychosocial assessment. Targeted interventions can be implemented for all high-risk patients. Conclusions: Our findings validate the effectiveness of utilizing the HRAR scale to screen and identify patients who are a high-risk for alcohol relapse post-LT. Recommendations to help maintain post-transplant sobriety include starting a transplant support group within the organization for all high-risk patients.Keywords: alcoholism, liver transplant, quality improvement, substance abuse
Procedia PDF Downloads 11625940 Analysis of Determinate and Indeterminate Structures: Applications of Non-Economic Structure
Authors: Toral Khalpada, Kanhai Joshi
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Generally, constructions of structures built in India are indeterminate structures. The purpose of this study is to investigate the application of a structure that is proved to be non-economical. The testing practice involves the application of different types of loads on both, determinate and indeterminate structure by computing it on a software system named Staad and also inspecting them practically on the construction site, analyzing the most efficient structure and diagnosing the utilization of the structure which is not so beneficial as compared to other. Redundant structures (indeterminate structure) are found to be more reasonable. All types of loads were applied on the beams of both determinate and indeterminate structures parallelly on the software and the same was done on the site practically which proved that maximum stresses in statically indeterminate structures are generally lower than those in comparable determinate structures. These structures are found to have higher stiffness resulting in lesser deformations so indeterminate structures are economical and are better than determinate structures to use for construction. On the other hand, statically determinate structures have the benefit of not producing stresses because of temperature changes. Therefore, our study tells that indeterminate structure is more beneficial but determinate structure also has used as it can be used in many areas; it can be used for the construction of two hinged arch bridges where two supports are sufficient and where there is no need for expensive indeterminate structure. Further investigation is needed to contrive more implementation of the determinate structure.Keywords: construction, determinate structure, indeterminate structure, stress
Procedia PDF Downloads 23125939 A Conceptual Framework for Vulnerability Assessment of Climate Change Impact on Oil and Gas Critical Infrastructures in the Niger Delta
Authors: Justin A. Udie, Subhes C. Bhatthacharyya, Leticia Ozawa-Meida
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The impact of climate change is severe in the Niger Delta and critical oil and gas infrastructures are vulnerable. This is partly due to lack of specific impact assessment framework to assess impact indices on both existing and new infrastructures. The purpose of this paper is to develop a framework for the assessment of climate change impact on critical oil and gas infrastructure in the region. Comparative and documentary methods as well as analysis of frameworks were used to develop a flexible, integrated and conceptual four dimensional framework underpinning; 1. Scoping – the theoretical identification of inherent climate burdens, review of exposure, adaptive capacities and delineation of critical infrastructure; 2. Vulnerability assessment – presents a systematic procedure for the assessment of infrastructure vulnerability. It provides real time re-scoping, practical need for data collection, analysis and review. Physical examination of systems is encouraged to complement the scoped data and ascertain the level of exposure to relevant climate risks in the area; 3. New infrastructure – consider infrastructures that are still at developmental level. It seeks to suggest the inclusion of flexible adaptive capacities in original design of infrastructures in line with climate threats and projections; 4. The Mainstreaming Climate Impact Assessment into government’s environmental decision making approach. Though this framework is designed specifically for the estimation of exposure, adaptive capacities and criticality of vulnerable oil and gas infrastructures in the Niger Delta to climate burdens; it is recommended for researchers and experts as a first-hand generic and practicable tool which can be used for the assessment of other infrastructures perceived as critical and vulnerable. The paper does not provide further tools that synch into the methodological approach but presents pointers upon which a pragmatic methodology can be developed.Keywords: adaptation, assessment, conceptual, climate, change, framework, vulnerability
Procedia PDF Downloads 31725938 The Effects of “Never Pressure Injury” on the Incidence of Pressure Injuries in Critically Ill Patients
Authors: Nuchjaree Kidjawan, Orapan Thosingha, Pawinee Vaipatama, Prakrankiat Youngkong, Sirinapha Malangputhong, Kitti Thamrongaphichartkul, Phatcharaporn Phetcharat
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NPI uses technology sensorization of things and processed by AI system. The main features are an individual interface pressure sensor system in contact with the mattress and a position management system where the sensor detects the determined pressure with automatic pressure reduction and distribution. The role of NPI is to monitor, identify the risk and manage the interface pressure automatically when the determined pressure is detected. This study aims to evaluate the effects of “Never Pressure Injury (NPI),” an innovative mattress, on the incidence of pressure injuries in critically ill patients. An observational case-control study was employed to compare the incidence of pressure injury between the case and the control group. The control group comprised 80 critically ill patients admitted to a critical care unit of Phyathai3 Hospital, receiving standard care with the use of memory foam according to intensive care unit guidelines. The case group comprised 80 critically ill patients receiving standard care and with the use of the Never Pressure Injury (NPI) innovation mattress. The patients who were over 20 years old and showed scores of less than 18 on the Risk Assessment Pressure Ulcer Scale – ICU and stayed in ICU for more than 24 hours were selected for the study. The patients’ skin was assessed for the occurrence of pressure injury once a day for five consecutive days or until the patients were discharged from ICU. The sample comprised 160 patients with ages ranging from 30-102 (mean = 70.1 years), and the Body Mass Index ranged from 13.69- 49.01 (mean = 24.63). The case and the control group were not different in their sex, age, Body Mass Index, Pressure Ulcer Risk Scores, and length of ICU stay. Twenty-two patients (27.5%) in the control group had pressure injuries, while no pressure injury was found in the case group.Keywords: pressure injury, never pressure injury, innovation mattress, critically ill patients, prevent pressure injury
Procedia PDF Downloads 12525937 Talent-Priority: Exploring the Human Resource Reengineering Model in Digital Transformation of a Benchmark Company
Authors: Hsiu Hua Hu
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Digital transformation has widely affected various industries. It provides technological innovation, process redesign, new business model construction, and talent value creation. This transformation not only allows organizations to obtain and deploy specific technologies and methods suitable for organizational reengineering but also is an important way to solve management problems in human resource (HR) reengineering, business efficiency, and process redesign. In this study, we present the results of a qualitative study that offers insight into a series of key feature of reengineering related to the digital transformation and how to create talent value when the companies successfully perform digital transformation and human resource reengineering, which is led by business digitalization strategies including talent planning, talent acquisition, talent adjustment, and talent development. Drawing from the qualitative investigation findings, we built an inductive model of HR reengineering, which aims to provide research and practical references on future digital transformation and management inquiry.Keywords: talent value creation, digital transformation, HR reengineering, qualitative study
Procedia PDF Downloads 15625936 Retrofitting Insulation to Historic Masonry Buildings: Improving Thermal Performance and Maintaining Moisture Movement to Minimize Condensation Risk
Authors: Moses Jenkins
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Much of the focus when improving energy efficiency in buildings fall on the raising of standards within new build dwellings. However, as a significant proportion of the building stock across Europe is of historic or traditional construction, there is also a pressing need to improve the thermal performance of structures of this sort. On average, around twenty percent of buildings across Europe are built of historic masonry construction. In order to meet carbon reduction targets, these buildings will require to be retrofitted with insulation to improve their thermal performance. At the same time, there is also a need to balance this with maintaining the ability of historic masonry construction to allow moisture movement through building fabric to take place. This moisture transfer, often referred to as 'breathable construction', is critical to the success, or otherwise, of retrofit projects. The significance of this paper is to demonstrate that substantial thermal improvements can be made to historic buildings whilst avoiding damage to building fabric through surface or interstitial condensation. The paper will analyze the results of a wide range of retrofit measures installed to twenty buildings as part of Historic Environment Scotland's technical research program. This program has been active for fourteen years and has seen interventions across a wide range of building types, using over thirty different methods and materials to improve the thermal performance of historic buildings. The first part of the paper will present the range of interventions which have been made. This includes insulating mass masonry walls both internally and externally, warm and cold roof insulation and improvements to floors. The second part of the paper will present the results of monitoring work which has taken place to these buildings after being retrofitted. This will be in terms of both thermal improvement, expressed as a U-value as defined in BS EN ISO 7345:1987, and also, crucially, will present the results of moisture monitoring both on the surface of masonry walls the following retrofit and also within the masonry itself. The aim of this moisture monitoring is to establish if there are any problems with interstitial condensation. This monitoring utilizes Interstitial Hygrothermal Gradient Monitoring (IHGM) and similar methods to establish relative humidity on the surface of and within the masonry. The results of the testing are clear and significant for retrofit projects across Europe. Where a building is of historic construction the use of materials for wall, roof and floor insulation which are permeable to moisture vapor provides both significant thermal improvements (achieving a u-value as low as 0.2 Wm²K) whilst avoiding problems of both surface and intestinal condensation. As the evidence which will be presented in the paper comes from monitoring work in buildings rather than theoretical modeling, there are many important lessons which can be learned and which can inform retrofit projects to historic buildings throughout Europe.Keywords: insulation, condensation, masonry, historic
Procedia PDF Downloads 17325935 Strategic Environmental Assessment and Climate Change: From European Experiences to Brazilian Needs
Authors: Amália S. Botter Fabbri
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This paper proposes the analysis of the Strategic Environmental Assessment (SEA) in relation to the three pillars of the sustainable development, highlighting its particular importance to combat climate change. Theoretical and practical examples from Europe show how SEA has been implemented under the SEA Directive in the recent years, while the Brazilian case study shows a situation in which no regulation on SEA was implemented, despite the strong demand for it, as revealed by past experiences and future planning needs. In the end, some aspects to the formulation of a SEA Act are suggested, in an attempt to contribute to a better Brazilian environmental governance in relation to the future plans, programmes and policies required to the reduction of greenhouse gases emissions.Keywords: Brazil, climate change, Europe, strategic environmental assessment
Procedia PDF Downloads 26925934 Evaluation of the Construction of Terraces on a Family Farm in the Municipality of Jaboticabal (SP), Brazil
Authors: Anderson dos Santos Ananias, Matheus Yuji Shigueoka, Roberto Saverio Souza Costa
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Soil and water conservation can be conceptualized as a combination of management and use methods, which have the function of protecting them against deterioration induced by anthropogenic or natural factors. Thus, the objective of this research was to evaluate the rural extension work in soil conservation carried out at Sítio do Alto in Jaboticabal-SP, through the analysis of planimetric data (latitude and longitude coordinates) and altimetric differences of the empirically constructed terraces by the rural producer and with technical guidance from CATI (Coordination of Integral Technical Assistance). A data collection procedure was carried out in the field, with GPS L1/L2, before the construction of five (5) terraces technically level and after their construction. The results showed that the greatest differences were found on terrace one (1), with a maximum latitude difference of 57 meters, the longitude of 23 m, and altitude of 2 m. These results corroborate the observations in the field, in which the presence of a great erosion caused by the incorrect construction of terrace 1 was verified rainwater to the side of the rural property, where the largest erosion furrows with the beginning of gully formation were found.Keywords: GPS, mechanical pratice, surface runoff, erosion
Procedia PDF Downloads 11725933 Role of Cryptocurrency in Portfolio Diversification
Authors: Onur Arugaslan, Ajay Samant, Devrim Yaman
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Financial advisors and investors seek new assets which could potentially increase portfolio returns and decrease portfolio risk. Cryptocurrencies represent a relatively new asset class which could serve in both these roles. There has been very little research done in the area of the risk/return tradeoff in a portfolio consisting of fixed income assets, stocks, and cryptocurrency. The objective of this study is a rigorous examination of this issue. The data used in the study are the monthly returns on 4-week US Treasury Bills, S&P Investment Grade Corporate Bond Index, Bitcoin and the S&P 500 Stock Index. The methodology used in the study is the application Modern Portfolio Theory to evaluate the risk-adjusted returns of portfolios with varying combinations of these assets, using Sharpe, Treynor and Jensen Indexes, as well as the Sortino and Modigliani measures. The results of the study would include the ranking of various investment portfolios based on their risk/return characteristics. The conclusions of the study would include objective empirical inference for investors who are interested in including cryptocurrency in their asset portfolios but are unsure of the risk/return implications.Keywords: financial economics, portfolio diversification, fixed income securities, cryptocurrency, stock indexes
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