Search results for: bank penetration

Authors: Yosef Ferede Bogale

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The purpose of this study was to evaluate the degree of customer satisfaction and the variables influencing it in the instance of the Bank of Abyssinia branches in the districts of Arada and Bole in Addis Ababa. The study was carried out utilizing a mixed research approach and a descriptive and explanatory research design in Addis Ababa, the capital city of Ethiopia. Both primary and secondary data were employed in this investigation. The study's target population consisted of 1000 of the bank's most prestigious clients. With a 93% response rate, 265 respondents from both genders in the active age group had higher levels of education and work experience and were in the active age group. Customers of the case bank under consideration comprised the study's target audience. The respondents, who belonged to both gender groups, were in the active age bracket with superior levels of education and work experience. As a result, this investigation discovered that the degree of client satisfaction was assigned a medium rating. Additionally given a middling rating were the company's image practices, employee competency, technology, and service quality. Further, the results also demonstrate that corporate image, employees’ competency, technology, and service quality all positively and significantly affect customer happiness. This study found that, to varying degrees, company image, technology, competence, and high-quality financial services will all improve consumer happiness. According to this report, banks should monitor customer satisfaction and service quality at least twice a year. This is because there is a growing movement among bank service providers for accountability, and measuring these factors is crucial. This study also recommends that banks make every effort to satisfy consumers' expectations to the highest level.

Keywords: customer satisfaction, corporate image, quality service risk, banks

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Authors: Ahmed Emad Ahmed, Mostafa El Abd, Ahmed Wakeb, Moahmmed Eissa

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Soil modification and reinforcing aims to increase soil shear strength and stiffness. In this report, different amounts of cement were added to the soil to explore its effect on shear strength and penetration using 3 tests. The first test is proctor compaction test which was conducted to determine the optimal moisture content and maximum dry density. The second test was direct shear test which was conducted to measure shear strength of soil. The third experiment was California bearing ratio test which was done to measure the penetration in soil. Each test was done different amount of times using different amounts of cement. The results from every test show that cement improve soil shear strength properties and stiffness.

Keywords: soil stabilized, soil, mechanical properties of soil, soil stabilized with a portland cement

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Authors: H. Fazlinejad, A. Halvaee

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In this study, characteristics of ATIG welds using ZnO flux on aluminum was investigated and compared with TIG welds. Autogenously AC-ATIG bead on plate welding was applied on Al1050 plate with a coating of ZnO as the flux. Different levels of welding current and flux layer thickness was considered to study the effect of heat input and flux quantity on ATIG welds and was compared with those of TIG welds. Geometrical investigation of the weld cross sections revealed that penetration depth of the ATIG welds with ZnO flux, was increased up to 2 times in some samples compared to the TIG welds. Optical metallographic and Scanning Electron Microscopy (SEM) observations revealed similar microstructures in TIG and ATIG welds. Composition of the ATIG welds slag was also analyzed using X-ray diffraction. In both TIG and ATIG samples, the lowest values of microhardness were observed in the HAZ.

Keywords: ATIG, active flux, weld penetration, Al 1050, ZnO

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Authors: P. S. Rajinikanth, Shobana Mariappan, Jestin Chellian

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The objective of the study was to prepare and characterize a water-in-oil nano emulsion of 5-Fluorouracil (5FU) to enhance the skin penetration. The present study describes a nano emulsion of 5FU using Capyrol PGMC, Transcutol HP and PEG 400 as oil, surfactant and co-surfactant, respectively. The optimized formulations were further evaluated for heating cooling cycle, centrifugation studies, freeze thaw cycling, particle size distribution and zeta potential in order to confirm the stability of the optimized nano emulsions. The in-vitro characterization results showed that the droplets of prepared formulation were ~100 nm with ± 15 zeta potential. In vitro skin permeation studies was conducted in albino mice skin. Significant increase in permeability parameters was also observed in nano emulsion formulations (P<0.05). The steady-state flux (Jss), enhancement ration and permeability coefficient (Kp) for optimized nano emulsion formulation (FU2, FU1, 1:1 S mix were found to be 24.21 ±2.45 μg/cm2/h, 3.28±0.87 & 19.52±1.87 cm/h, respectively), which were significant compared with conventional gel. The in vitro and in vivo skin deposition studies in rat indicated that the amount of drug deposited from the nano emulsion (292.45 µg/cm2) in skin was significant (P<0.05) an increased as compared to a conventional 5FU gel (121.42 µg/cm2). The skin irritation study using rat skin showed that the mean irritation index of the nano emulsion reduced significantly (P<0.05) as compared with conventional gel contain 1% 5FU. The results from this study suggest that a water-in-oil nano emulsion could be safely used to promote skin penetration of 5FU following topical application.

Keywords: nano emulsion, controlled release, 5 fluorouracil, skin penetration, skin irritation

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Authors: Husnain Mushtaq, Mary Anjum, Muhammad Aleem

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The main objective of this paper is used to develop a high security in Automatic Teller Machine (ATM). In these system bankers will collect the mobile numbers from the customers and then provide a code on their mobile number. In most country existing ATM machine use the magnetic card reader. The customer is identifying by inserting an ATM card with magnetic card that hold unique information such as card number and some security limitations. By entering a personal identification number, first the customer is authenticated then will access bank account in order to make cash withdraw or other services provided by the bank. Cases of card fraud are another problem once the user’s bank card is missing and the password is stolen, or simply steal a customer’s card & PIN the criminal will draw all cash in very short time, which will being great financial losses in customer, this type of fraud has increase worldwide. So to resolve this problem we are going to provide the solution using “Mobile SMS code” and ATM “PIN code” in order to improve the verify the security of customers using ATM system and confidence in the banking area.

Keywords: PIN, inquiry, biometric, magnetic strip, iris recognition, face recognition

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Authors: Amir Hossein Ghaffari Nejad, Forouhar Ferdowsi, Reza Mashhadi

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In the interest-free banking system of Iran, the savings of society are in the form of bank deposits, and banks using the Islamic contracts, allocate the resources to applicants for obtaining facilities and credit. In the meantime, the central bank, with the aim of introducing monetary policy, determines the maximum interest rate on bank deposits in terms of macroeconomic requirements. But in recent years, the country's economic constraints with the stagflation and the consequence of the institutional weaknesses of the financial market of Iran have resulted in massive disturbances in the balance sheet of the banking system, resulting in a period of mismatch maturity in the banks' assets and liabilities and the implementation of a Ponzi game. This issue caused determination of the interest rate in long-term bank deposit contracts to be associated with non-observance of the maximum rate set by the central bank. The result of this condition was in the allocation of new sources of equipment to meet past commitments towards the old depositors and, as a result, a significant part of the supply of equipment was leaked out of the facilitating cycle and credit crunch emerged. The purpose of this study is to identify the most important factors affecting the occurrence of non-confirmatory financial banking behavior using data from 19 public and private banks of Iran. For this purpose, the causes of this non-confirmatory behavior of banks have been investigated using the panel vector autoregression method (PVAR) for the period of 2007-2015. Granger's causality test results suggest that the return of parallel markets for bank deposits, non-performing loans and the high share of the ratio of facilities to banks' deposits are all a cause of the formation of non-confirmatory behavior. Also, according to the results of impulse response functions and variance decomposition, NPL and the ratio of facilities to deposits have the highest long-term effect and also have a high contribution to explaining the changes in banks' non-confirmatory behavior in determining the interest rate on deposits.

Keywords: non-conformity behavior, Ponzi Game, panel vector autoregression, nonperforming loans

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Authors: Xuewen Chen, Aizhen Liang, Xiaoping Zhang

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To better understand the spatial variability of soil penetration resistance (SPR) and soil water content (SWC) induced by different tillage and crop rotation in a Mollisol of Northeast China, the soil was sampled from the tillage experiment which was established in Dehui County, Jilin Province, Northeast China, in 2001. Effect of no-tillage (NT), moldboard plow (MP) and ridge tillage (RT) under corn-soybean rotation (C-S) and continuous corn (C-C) system on SPR and SWC were compared with horizontal and vertical variations. The results showed that SPR and SWC spatially varied across the ridge. SPR in the rows was higher than inter-rows, especially in topsoil (2.5-15 cm) of NT and RT plots. SPR of MP changed in the trend with the curve-shaped ridge. In contrast to MP, NT, and RT resulted in average increment of 166.3% and 152.3% at a depth of 2.5-17.5 cm in the row positions, respectively. The mean SPR in topsoil in the rows means soil compaction is not the main factor limiting plant growth and crop yield. SPR in the row of RT soil was lower than NT at a depth of 2.5-12.5 cm. The SWC in NT and RT soil was highest in the inter-rows and least in the rows or shoulders, respectively. However, the lateral variation trend of MP was opposite to NT. From the profile view of SWC, MP was greater than NT and RT in 0-20 cm of the rows. SWC in RT soil was higher than NT in the row of 0-20 cm. Crop rotation did not have a marked impact on SPR and SWC. In addition to the tillage practices, the factor which affects SPR greatly was depth but not position. These two factors have significant effects on SWC. These results indicated that the adoption of RT was a more suitable conservation tillage practices than NT in the black soil of Northeast China.

Keywords: row, soil penetration resistance, spatial variability, tillage practice

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Authors: Ju-Hong Lee, Yi-Lin Shieh

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Two-dimensional (2-D) quadrature mirror filter (QMF) banks have been widely considered for high-quality coding of image and video data at low bit rates. Without implementing subband coding, a 2-D QMF bank is required to have an exactly linear-phase response without magnitude distortion, i.e., the perfect reconstruction (PR) characteristics. The design problem of 2-D QMF banks with the PR characteristics has been considered in the literature for many years. This paper presents a transformation approach for designing 2-D two-channel QMF banks. Under a suitable one-dimensional (1-D) to two-dimensional (2-D) transformation with a specified decimation/interpolation matrix, the analysis and synthesis filters of the QMF bank are composed of 1-D causal and stable digital allpass filters (DAFs) and possess the 2-D doubly complementary half-band (DC-HB) property. This facilitates the design problem of the two-channel QMF banks by finding the real coefficients of the 1-D recursive DAFs. The design problem is formulated based on the minimax phase approximation for the 1-D DAFs. A novel objective function is then derived to obtain an optimization for 1-D minimax phase approximation. As a result, the problem of minimizing the objective function can be simply solved by using the well-known weighted least-squares (WLS) algorithm in the minimax (L∞) optimal sense. The novelty of the proposed design method is that the design procedure is very simple and the designed 2-D QMF bank achieves perfect magnitude response and possesses satisfactory phase response. Simulation results show that the proposed design method provides much better design performance and much less design complexity as compared with the existing techniques.

Keywords: Quincunx QMF bank, doubly complementary filter, digital allpass filter, WLS algorithm

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Authors: Asanga Gunawansa, Shenella Fonseka

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On-demand bonds, also known as unconditional bonds, are commonplace in the construction industry as a means of safeguarding the employer from any potential non-performance by a contractor. On-demand bonds may be obtained from commercial banks, and they serve as an undertaking by the issuing bank to honour payment on demand without questioning and/or considering any dispute between the employer and the contractor in relation to the underlying contract. Thus, whether or not a breach had occurred under the underlying contract, which triggers the demand for encashment by the employer, is not a question the bank needs to be concerned with. As a result, an unconditional bond allows the beneficiary to claim the money almost without any condition. Thus, an unconditional bond is as good as cash-in-hand. In the past, establishing fraud on the part of the employer, of which the bank had knowledge, was the only ground on which a bank could dishonour a claim made under an on-demand bond. However, recent jurisprudence in common law countries shows that courts are beginning to consider unconscionable conduct on the part of the employer in claiming under an on-demand bond as a ground that contractors could rely on the prevent the banks from honouring such claims. This has created uncertainty in connection with on-demand bonds and their liquidity. This paper analyzes recent judicial decisions in four common law jurisdictions, namely, England, Singapore, Hong Kong, and Sri Lanka, to identify the scope of using the concept of “unconscionability” as a ground for preventing unreasonable claims for encashment of on-demand bonds. The objective of this paper is to argue that on-demand bonds have lost their effectiveness as “cash-in-hand” and that this is, in fact, an advantage and not an impediment to international commerce, as the purpose of such bonds should not be to provide for illegal and unconscionable conduct by the beneficiaries.

Keywords: fraud, performance guarantees, on-demand bonds, unconscionability

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Authors: Prashant Verma

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Commercial banks are facing immense pressure, including financial disintermediation, interest rate volatility and digital ways of finance. Retaining an existing customer is 5 to 25 less expensive than acquiring a new one. This paper explores customer churn prediction, based on various statistical & machine learning models and uses under-sampling, to improve the predictive power of these models. The results show that out of the various machine learning models, Random Forest which predicts the churn with 78% accuracy, has been found to be the most powerful model for the scenario. Customer vintage, customer’s age, average balance, occupation code, population code, average withdrawal amount, and an average number of transactions were found to be the variables with high predictive power for the churn prediction model. The model can be deployed by the commercial banks in order to avoid the customer churn so that they may retain the funds, which are kept by savings bank (SB) customers. The article suggests a customized campaign to be initiated by commercial banks to avoid SB customer churn. Hence, by giving better customer satisfaction and experience, the commercial banks can limit the customer churn and maintain their deposits.

Keywords: savings bank, customer churn, customer retention, random forests, machine learning, under-sampling

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Authors: Maruf Ariyo Raheem, Patrick Oseloka Ezepue

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This research aimed at determining most appropriate heteroskedastic model to predicting volatility of 10 major Nigerian banks: Access, United Bank for Africa (UBA), Guaranty Trust, Skye, Diamond, Fidelity, Sterling, Union, ETI and Zenith banks using daily closing stock prices of each of the banks from 2004 to 2014. The models employed include ARCH (1), GARCH (1, 1), EGARCH (1, 1) and TARCH (1, 1). The results show that all the banks returns are highly leptokurtic, significantly skewed and thus non-normal across the four periods except for Fidelity bank during financial crises; findings similar to those of other global markets. There is also strong evidence for the presence of heteroscedasticity, and that volatility persistence during crisis is higher than before the crisis across the 10 banks, with that of UBA taking the lead, about 11 times higher during the crisis. Findings further revealed that Asymmetric GARCH models became dominant especially during financial crises and post crises when the second reforms were introduced into the banking industry by the Central Bank of Nigeria (CBN). Generally, one could say that Nigerian banks returns are volatility persistent during and after the crises, and characterised by leverage effects of negative and positive shocks during these periods

Keywords: global financial crisis, leverage effect, persistence, volatility clustering

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Authors: CM van der Bank, Marjoné van der Bank

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International and domestic environmental law has evolved quite rapidly in the last few decades. At the international level the Stockholm and Rio Declarations paved the way for a broad based consensus of the international community on environmental issues and principles. At the Domestic level also many states have incorporated environmental protection in their constitutions and even more states are doing the same at least in their domestic legislations. In this process of evolution environmental law has unleashed a number of novel principles such as; the participatory principle, the polluter pays principle, the precautionary principle, the inter-generational and intra-generational principles, the prevention principle, the sustainable development principle and so on.

Keywords: environment, human rights, international law, protection

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Authors: Kaavya Rathnakumar

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Minimally processed fruits have the attributes of convenience and fresh like quality. In minimally processed products, the cells of the tissue are alive, and the essential nutrients and flavours are retained. Some of the procedures include washing, trimming, sorting, cutting, slicing and shredding. Fruits such as pineapple and guava were taken for the study of textural properties for a period of five days. After the performance of various unit operations 50g cubes of pineapple and guava has been weighed. For determining the textural properties, samples were taken in which set of 12 samples were treated by using 1% citric acid solution and dried for 5 minutes the remaining set of 12 samples were untreated. In set of treated samples 6 were vacuum packed and stored in the refrigerator, and the other sample was normally stored. For untreated samples was done in a similar way. In texture profile analysis the force required for 1cm penetration of 2mm cylindrical needle inside the fruits were recorded for all packages. It was observed that guava the fresh sample had a force of penetration of 3250mm and as the days increased the force decreased to 357.4 mm for vacuum packed refrigerated storage. In the case of pineapple, the force of penetration of the fresh sample was 2325mm which was decreased to 26.3mm on the fourth day and very low at the fifth day for vacuum packed refrigerated storage. But in case of untreated samples, the fruits were spoiled may be because of no pre-treatment and packaging. Comparatively, it was found that vacuum packed refrigerated samples had higher shelf life than normal packed samples in ambient conditions.

Keywords: 1% citric acid solution, normal packed, refrigerated storage, vacuum packed

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Authors: Audia Syafa'atur Rahman, Rozali Haron

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The practices of Islamic banking are more attuned to the goals of profit maximization rather than obtaining ethical profit. Ethical profit is obtained from interest-free earnings and to give an impact which benefits to the growth of society and economy. Good corporate governance practices are needed to assure the sustainability of Islamic banks in order to achieve Maqasid Shariah with the main purpose of boosting the well-being of people. The Maqasid Shariah performance measurement is used to measure the duties and responsibilities expected to be performed by Islamic banks. It covers not only unification dimension like financial measurement, but also many dimensions covered to reflect the main purpose of Islamic banks. The implementation of good corporate governance is essential because it covers the interests of the stakeholders and facilitates effective monitoring to encourage Islamic banks to utilize resources more efficiently in order to achieve the Maqasid Shariah. This study aims to provide the empirical evidence on the Maqasid performance of Islamic banks in relation to the Maqasid performance evaluation model, to examine the influence of SSB characteristics and board structures to Islamic Banks performance as measured by Maqasid performance evaluation model. By employing the simple additive weighting method, Maqasid index for all the Islamic Banks in Indonesia within 2012 to 2016 ranged from above 11% to 28%. The Maqasid Syariah performance index where results reached above 20% are obtained by Islamic Banks such as Bank Muamalat Indonesia, Bank Panin Syariah, and Bank BRI Syariah. The consistent achievement above 23% is achieved by BMI. Other Islamic Banks such as Bank Victoria Syariah, Bank Jabar Banten Syariah, Bank BNI Syariah, Bank Mega Syariah, BCA Syariah, and Maybank Syariah Indonesia shows a fluctuating value of the Maqasid performance index every year. The impact of SSB characteristics and board structures are tested using random-effects generalized least square. The findings indicate that SSB characteristics (Shariah Supervisory Board size, Shariah Supervisory Board cross membership, Shariah Supervisory Board Education, and Shariah Supervisory Board reputation) and board structures (Board size and Board independence) have an essential role in improving the performance of Islamic Banks. The findings denote Shariah Supervisory Board with smaller size, higher portion of Shariah Supervisory Board cross membership; lesser Shariah Supervisory Board holds doctorate degree, lesser reputable scholar, more members on board of directors, and less independence non-executive directors will enhance the performance of Islamic Banks.

Keywords: Maqasid Shariah, corporate governance, Islamic banks, Shariah supervisory board

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Authors: Samir Srairi

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This paper investigates the impact of the internal corporate governance on bank performance by constructing a corporate governance index (CGI) for 27 Islamic banks operating in five Arab Gulf countries. Using content analysis on the banks’ annual reports for 3 years (2011-2013), the index construction uses information on six important corporate governance mechanisms, namely board structure, risk management, transparency and disclosure, audit committee, Sharia supervisory board and investment account holders. The results demonstrate that Islamic banks adhere to 54% of the attributes addressed in the CGI. The most frequently reported and disclosed elements are Sharia supervisory board followed by board structure and risk management. The findings related to countries revealed that only two countries, the United Arab Emirates and Bahrain, possess a higher level of CGI. Our regression results provide evidence that Islamic banks with higher levels of corporate governance report high operating performance measured by return on assets and net interest margin. Finally, as of the effect of internal and external factors, we identified four variables that were associated with bank performance, namely size, equity, risk and concentration.

Keywords: governance mechanisms, corporate governance index, bank performance, Islamic banks, GCC countries

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Authors: Libena Cernohorska, Barbora Sutorova, Petr Teply

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There are pending discussions over an impact of global regulatory efforts on banks. In this paper we present a literature review on the profitability-risk-capital relationship in banking. Research papers dealing with this topic can be divided into two groups: the first group focusing on a capital-risk relationship and the second group analyzing a capital-profitability relationship. The first group investigates whether the imposition of stricter capital requirements reduces risk-taking incentives of banks based on a simultaneous equations model. Their model pioneered the idea that the changes in both capital and risk have endogenous and exogenous components. The results obtained by the authors indicate that changes in the capital level are positively related to the changes in asset risk. The second group of the literature concentrating solely on the relationship between the level of held capital and bank profitability is limited. Nevertheless, there are a lot of studies dealing with the banks’ profitability as such, where bank capital is very often included as an explanatory variable. Based on the literature review of dozens of relevant papers in this study, an empirical research on banks’ profitability and risk adjustment decisions under new banking rules Basel III rules can be easily undertaken.

Keywords: bank, Basel III, capital, decision making, profitability, risk, simultaneous equations model

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Authors: Kwak, Hyo-Gyung, Gang, Han Gul

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In the context of an increasing need for reliability and safety in concrete structures under blast and impact loading condition, the behavior of concrete under high strain rate condition has been an important issue. Since concrete subjected to impact loading associated with high strain rate shows quite different material behavior from that in the static state, several material models are proposed and used to describe the high strain rate behavior under blast and impact loading. In the process of modelling, in advance, mesh dependency in the used finite element (FE) is the key problem because simulation results under high strain-rate condition are quite sensitive to applied FE mesh size. It means that the accuracy of simulation results may deeply be dependent on FE mesh size in simulations. This paper introduces an improved criterion which can minimize the mesh-dependency of simulation results on the basis of the fracture energy concept, and HJC (Holmquist Johnson Cook), CSC (Continuous Surface Cap) and K&C (Karagozian & Case) models are examined to trace their relative sensitivity to the used FE mesh size. To coincide with the purpose of the penetration test with a concrete plate under a projectile (bullet), the residual velocities of projectile after penetration are compared. The correlation studies between analytical results and the parametric studies associated with them show that the variation of residual velocity with the used FE mesh size is quite reduced by applying a unique failure strain value determined according to the proposed criterion.

Keywords: high strain rate concrete, penetration simulation, failure strain, mesh-dependency, fracture energy

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Authors: Haroon Mahmood, Christopher Gan, Cuong Nguyen

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Maturity transformation risk is highlighted as one of the major causes of recent global financial crisis. Basel III has proposed new liquidity regulations for transformation function of banks and hence to monitor this risk. Specifically, net stable funding ratio (NSFR) is introduced to enhance medium- and long-term resilience against liquidity shocks. Islamic banking is widely accepted in many parts of the world and contributes to a significant portion of the financial sector in many countries. Using a dataset of 68 fully fledged Islamic banks from 11 different countries, over a period from 2005 – 2014, this study has attempted to analyze various factors that may significantly affect the maturity transformation risk in these banks. We utilize 2-step system GMM estimation technique on unbalanced panel and find bank capital, credit risk, financing, size and market power are most significant among the bank specific factors. Also, gross domestic product and inflation are the significant macro-economic factors influencing this risk. However, bank profitability, asset efficiency, and income diversity are found insignificant in determining the maturity transformation risk in Islamic banking model.

Keywords: Basel III, Islamic banking, maturity transformation risk, net stable funding ratio

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Authors: Minghua Chen, Rui Wang

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This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.

Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks

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Authors: Du Zhiqin

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WeChat is an instant messaging service similar to WhatsApp developed by Tencent, one of China's largest and most used Internet service portals. This paper investigates the penetration of WeChat among university students through a questionnaire, analyzes the effect of brand influence, information quality, interactivity, opinions of opinion-leaders, promotion, personal interests on the attitudes of university students towards WeChat marketing. This paper concludes that the penetration rate of WeChat marketing among university students is generally high enough, WeChat has generally been accepted by students as a way for businesses to market their products, and that all the above-mentioned five factors play a positive role in the process of WeChat marketing. It also proposes that businesses could maximize the effect of WeChat marketing by focusing more resources on the increase of brand influence, and the interactivity of WeChat contents and the use of opinions of opinion-leaders.

Keywords: WeChat, university students, marketing, AISAS

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Authors: Samiya Siddique, Taslima Akter Elma, Shahrina Mahzabin, Tamanna Jerin, Mohammed Russedul Islam

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In the maneuver and designing of highway engineering, pavement performance is a principal concern. Quality of construction and materials, traffic volume, climate, etc. are the factors that affect the performance of asphalt concrete. Modified asphalt requires to attain greater strength and stability even at inimical circumstances. In this point of view, pyrolytic carbon black (PCB), which is a by-product of waste tire pyrolysis, holds incomparable properties that individualizes it from other conventional fillers by making it an imminent modifier of bitumen. Optimum asphalt content of 60/70 penetration grade asphalt is determined 5% through the Marshall Stability and Flow test for the wearing course of flexible pavement. 5, 10, and 15 percentages of PCB are then used with neat asphalt for modification. Deviations of physical and rheological properties are investigated on both PCB modified and neat asphalt by going through several laboratory tests such as penetration, softening point, and ductility tests. The obtained results reveal that the performance of paving asphalt can be upgraded by modifying it with PCB. With the increasing percentage of PCB, ductility is gradually decreased, and also penetration grade is gradually reduced from 60/70 to 30/40. Furthermore, asphalt mixtures modified with PCB demonstrate higher stability and lower flow values. The research discloses that the apposite percentage of PCB used in asphalt concrete plays a significant role in the advancement of pavement performances and reutilizing of waste tires.

Keywords: asphalt modification, pavement performances, pyrolytic carbon black, marshall stability, wearing course

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Authors: Elham Fakhrpoor, Daryush Mohammadi Zanjirani, Maziyar Nojaba

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Business process reengineering is one of the most important strategies in banks in recent years that not only it increases customers’ satisfaction, but also it increases performance of banks. The purpose of elementary (initial) business process reengineering is reinforcing banks abilities to obtain new customers and making long-term relationships with existed customers and increasing customers’ satisfaction among service quality in global level. Banks specially the private ones are the main streams of state, because cash flow is necessary to survive a state. What guarantees survival and permanency of financial institutes’ activities is providing favorite, certain, and proper services. Capital market being small and state financial system being bank-oriented needs optimum usage from banks. According to this fact and role and importance of developing banking system, the present study tried to offer a constructed model using Lisrel and also spss software to evaluate effects of business process reengineering on performance of private banks. We have one min hypothesis and four sub-hypotheses. The main hypothesis says reengineering factors have positive effects on bank performances (balanced- scores card aspects). These hypotheses were tested by structural equations modeling.

Keywords: effect, business, reengineering, private bank

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Authors: Zhou Yingkun, Xu Guorui, Wei Siming, Huang Yongzhang

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With the increasing of the penetration of renewable energy in power system, the whole inertia of the power system is declining, which will endanger the frequency stability of the power system. In order to enhance the inertia, virtual synchronous generator (VSG) has been proposed. In addition, the motor-generator pair (MGP) system is proposed to enhance grid inertia. Both of them need additional equipment to provide instantaneous energy, so the economic problem should be considered. In this paper, the basic working principle of MGP system and VSG are introduced firstly. Then, the technical characteristics and economic investment of MGP/VSG are compared by calculation and simulation. The results show that the MGP system can provide same inertia with less cost than VSG.

Keywords: high renewable energy penetration, inertia of power system, motor-generator pair (MGP) system, virtual synchronous generator (VSG), techno-economic analysis

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Authors: Shehu Usman Hassan

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Published accounting information in financial statements are required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. This paper investigates firm attributes from perspective of structure, monitoring, performance elements of listed deposit money banks in Nigeria. The study adopted correlational research design with balanced panel data of 14 banks as sample of the study using multiple regression as a tool of analysis. The result reveals that firms attributes (leverage, profitability, liquidity, bank size and bank growth) has as significant influence on earnings quality of listed deposit money banks in Nigeria after the adoption of IFRS, while the pre period shows that the selected firm attributes has no significant impact on earnings quality. It is therefore concluded that the adoption of IFRS is right and timely.

Keywords: earnings quality, firm attributes, listed deposit money bank, Nigeria

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Authors: Ronbanchob Apiratikul

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This research studied recycled waste by the Recyclable Material Bank Project of 4 universities in the central region of Thailand for the evaluation of reducing greenhouse gas emissions compared with landfilling activity during July 2012 to June 2013. The results showed that the projects collected total amount of recyclable wastes of about 911,984.80 kilograms. Office paper had the largest amount among these recycled wastes (50.68% of total recycled waste). Groups of recycled waste can be prioritized from high to low according to their amount as paper, plastic, glass, mixed recyclables, and metal, respectively. The project reduced greenhouse gas emissions equivalent to about 2814.969 metric tons of carbon dioxide. The most significant recycled waste that affects the reduction of greenhouse gas emissions is office paper which is 70.16% of total reduced greenhouse gasses emission. According to amount of reduced greenhouse gasses emission, groups of recycled waste can be prioritized from high to low significances as paper, plastic, metals, mixed recyclables, and glass, respectively.

Keywords: recycling, garbage bank, waste management, recyclable wastes, greenhouse gases

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Authors: Ishtiaq A. Chaudhry, Zia R. Tahir, F. A. Siddiqui, F. Noor, M. J. Rashid

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It has experimentally been proved that the performance of compression ignition (CI) engine is spray characteristics related. In modern diesel engine the spray formation and the eventual combustion process are the vital processes that offer more challenges towards enhancing the engine performance. In the present work, the numerical simulation has been carried out for evaporating diesel sprays using Fluent software. For computational fluid dynamics simulation “Meshing” is done using Gambit software before transmitting it into fluent. The simulation is carried out using hot bomb conditions under varying chamber conditions such as gas pressure, nozzle diameter and fuel injection pressure. For comparison purpose, the numerical simulations the chamber conditions were kept the same as that of the experimental data. At varying chamber conditions the spray penetration rates are compared with the existing experimental results.

Keywords: evaporating diesel sprays, penetration rates, hot bomb conditions

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Authors: Ahmed Sameer El Khatib

Abstract:

The aim of the present paper is to examine the revenue efficiency of the Indonesian Islamic banking sector. The study also seeks to investigate the potential internal (bank specific) and external (macroeconomic) determinants that influence the revenue efficiency of Indonesian domestic Islamic banks. We employ the whole gamut of domestic and foreign Islamic banks operating in the Indonesian Islamic banking sector during the period of 2009 to 2018. The level of revenue efficiency is computed by using the Data Envelopment Analysis (DEA) method. Furthermore, we employ a panel regression analysis framework based on the Ordinary Least Square (OLS) method to examine the potential determinants of revenue efficiency. The results indicate that the level of revenue efficiency of Indonesian domestic Islamic banks is lower compared to their foreign Islamic bank counterparts. We find that bank market power, liquidity, and management quality significantly influence the improvement in revenue efficiency of the Indonesian domestic Islamic banks during the period under study. By calculating these efficiency concepts, we can observe the efficiency levels of the domestic and foreign Islamic banks. In addition, by comparing both cost and profit efficiency, we can identify the influence of the revenue efficiency on the banks’ profitability.

Keywords: Islamic Finance, Islamic Banks, Revenue Efficiency, Data Envelopment Analysis

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Authors: Jameelah Omolara Yaqub

Abstract:

One of the main reasons for the existence of central bank is that it is believed that central banks have some influence on private sector decisions which will enable the Central Bank to achieve some of its objectives especially that of stable price and economic growth. By the assumption of the New Keynesian theory that prices are fully flexible in the short run, the central bank can temporarily influence real interest rate and, therefore, have an effect on real output in addition to nominal prices. There is, therefore, the need for the Central Bank to monitor, respond to, and influence private sector decisions appropriately. This thus shows that the Central Bank and the private sector will both affect and be affected by each other implying considerable interdependence between the sectors. The interdependence may be simultaneous or not depending on the level of information, readily available and how sensitive prices are to agents’ expectations about the future. The aim of this paper is, therefore, to determine whether the interdependence between asset prices and monetary policy are simultaneous or not and how important is this relationship. Studies on the effects of monetary policy have largely used VAR models to identify the interdependence but most have found small effects of interaction. Some earlier studies have ignored the possibility of simultaneous interdependence while those that have allowed for simultaneous interdependence used data from developed economies only. This study, therefore, extends the literature by using data from a developing economy where information might not be readily available to influence agents’ expectation. In this study, the direction of relationship among variables of interest will be tested by carrying out the Granger causality test. Thereafter, the interaction between asset prices and monetary policy in Nigeria will be tested. Asset prices will be represented by the NSE index as well as real estate prices while monetary policy will be represented by money supply and the MPR respectively. The VAR model will be used to analyse the relationship between the variables in order to take account of potential simultaneity of interdependence. The study will cover the period between 1980 and 2014 due to data availability. It is believed that the outcome of the research will guide monetary policymakers especially the CBN to effectively influence the private sector decisions and thereby achieve its objectives of price stability and economic growth.

Keywords: asset prices, granger causality, monetary policy rate, Nigeria

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Authors: Harish Kumar Arya, Kulwant Singh, R. K Saxena, Deepti Jaiswal

Abstract:

The heat flow in weldment changes its nature from 2D to 3D with the increase in plate thickness. For welding of thicker plates the heat loss in thickness direction increases the cooling rate of plate. Since the cooling rate changes, the various bead parameters like bead penetration, bead height and bead width also got affected by it. The present study incorporates the effect of variable plate thickness on bead geometry and dilution. The penetration reduces with increase in plate thickness due to heat loss in thickness direction, while bead width and reinforcement increases for thicker plate due to faster cooling.

Keywords: submerged arc welding, plate thickness, bead geometry, cooling rate

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Authors: Olusola Abiodun Arinde

Abstract:

This research work was prompted by the very important role e-commerce plays in every organization, be it private or public. The underlying objective of this study is to have a critical appraisal of the extent to which e-commerce impacts on organizational effectiveness. This research was carried out using Zenith Bank Plc as a case study. Relevant data were collected through structured questionnaire, oral interview, journals, newspapers, and textbooks. The data collected were analyzed and hypotheses were tested. Based on the result of the hypotheses, it was observed that e-commerce is significant to every organization. Through e-commerce, fast services delivery would be guaranteed to customers, this would lead to higher productivity and profit for organizations. E-commerce should be managed in such a way that it does not alienate customers; it should also prevent enormous risks that are associated with e-commerce.

Keywords: e-commerce, fast service, productivity, profit

Procedia PDF Downloads 244