Search results for: drop/bubble growth
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6992

Search results for: drop/bubble growth

6812 Convective Boiling of CO₂ in Macro and Mini-Channels

Authors: Adonis Menezes, Julio C. Passos

Abstract:

The present work deals with the theoretical and experimental investigation of the convective boiling of CO₂ in macro and mini-channels. A review of the state of the art of convective boiling studies in mini-channels and conventional channels for operating with CO₂ was carried out, with special attention to the flow patterns and pressure drop maps in single-phase and two-phase flows. To carry out an experimental analysis of the convective boiling of CO₂, a properly instrumented experimental bench was built, which allows a parametric analysis for different thermodynamic conditions, such as mass velocities between 200 and 1300 kg/(m².s), pressures between 20 and 70bar, temperature monitoring at the entrance of the mini-channels, heat flow and pressure drop in the test section. The visualization of flow patterns was possible with the use of a high-speed CMOS camera. The results obtained are in line with those found in the literature, both for flow patterns and for the heat transfer coefficient.

Keywords: carbon dioxide, convective boiling, CO₂, mini-channels

Procedia PDF Downloads 145
6811 Financial Development and Economic Growth of Sub-Saharan Africa Using System GMM Analysis

Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

Abstract:

The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

Procedia PDF Downloads 29
6810 Influence of Packing Density of Layers Placed in Specific Order in Composite Nonwoven Structure for Improved Filtration Performance

Authors: Saiyed M Ishtiaque, Priyal Dixit

Abstract:

Objectives: An approach is being suggested to design the filter media to maximize the filtration efficiency with minimum possible pressure drop of composite nonwoven by incorporating the layers of different packing densities induced by fibre of different deniers and punching parameters by using the concept of sequential punching technique in specific order in layered composite nonwoven structure. X-ray computed tomography technique is used to measure the packing density along the thickness of layered nonwoven structure composed by placing the layer of differently oriented fibres influenced by fibres of different deniers and punching parameters in various combinations to minimize the pressure drop at maximum possible filtration efficiency. Methodology Used: This work involves preparation of needle punched layered structure with batts 100g/m2 basis weight having fibre denier, punch density and needle penetration depth as variables to produce 300 g/m2 basis weight nonwoven composite. X-ray computed tomography technique is used to measure the packing density along the thickness of layered nonwoven structure composed by placing the layers of differently oriented fibres influenced by considered variables in various combinations. to minimize the pressure drop at maximum possible filtration efficiencyFor developing layered nonwoven fabrics, batts made of fibre of different deniers having 100g/m2 each basis weight were placed in various combinations. For second set of experiment, the composite nonwoven fabrics were prepared by using 3 denier circular cross section polyester fibre having 64 mm length on needle punched nonwoven machine by using the sequential punching technique to prepare the composite nonwoven fabrics. In this technique, three semi punched fabrics of 100 g/m2 each having either different punch densities or needle penetration depths were prepared for first phase of fabric preparation. These fabrics were later punched altogether to obtain the overall basis weight of 300 g/m2. The total punch density of the composite nonwoven fabric was kept at 200 punches/ cm2 with a needle penetration depth of 10 mm. The layered structures so formed were subcategorised into two groups- homogeneous layered structure in which all the three batts comprising the nonwoven fabric were made from same denier of fibre, punch density and needle penetration depth and were placed in different positions in respective fabric and heterogeneous layered structure in which batts were made from fibres of different deniers, punch densities and needle penetration depths and were placed in different positions. Contributions: The results concluded that reduction in pressure drop is not derived by the overall packing density of the layered nonwoven fabric rather sequencing of layers of specific packing density in layered structure decides the pressure drop. Accordingly, creation of inverse gradient of packing density in layered structure provided maximum filtration efficiency with least pressure drop. This study paves the way for the possibility of customising the composite nonwoven fabrics by the incorporation of differently oriented fibres in constituent layers induced by considered variablres for desired filtration properties.

Keywords: filtration efficiency, layered nonwoven structure, packing density, pressure drop

Procedia PDF Downloads 47
6809 Studying Growth as a Pursuit of Disseminating Social Impact: A Conceptual Study

Authors: Saila Tykkyläinen

Abstract:

The purpose of this study is to pave the way for more focused accumulation of knowledge on social enterprise growth. The body of research touching upon the phenomenon is somewhat fragmented. In order to make an effort to create a solid common ground, this study draws from the theoretical starting points and guidelines developed within small firm growth research. By analyzing their use in social enterprise growth literature, the study offers insights on whether the proven theories and concepts from small firm context could be more systematically applied when investigating growth of social enterprises. Towards this end, the main findings from social enterprise growth research are classified under the three research streams on growth. One of them focuses on factors of growth, another investigates growth as a process and the third is interested in outcomes of growth. During the analysis, special attention is paid on exploring how social mission of the company and the pursuit of augmenting its social impact are dealt within those lines of research. The next step is to scrutinize and discuss some of the central building blocks of growth research, namely the unit of analysis, conceptualization of a firm and operationalizing growth, in relation to social enterprise studies. It appears that the social enterprise growth literature stresses the significance of 'social' both as a main driver and principle outcome of growth. As for the growth process, this emphasis is manifested by special interest in strategies and models tailored to disseminate social impact beyond organizational limits. Consequently, this study promotes more frequent use of business activity as a unit of analysis in the social enterprise context. Most of the times, it is their products, services or programs with which social enterprises and entrepreneurs aim to create the impact. Thus the focus should be placed on activities rather than on organizations. The study also seeks to contribute back to the small firm growth research. Even though the recommendation to think of business activities as an option for unit of analysis stems from there, it is all too rarely used. Social entrepreneurship makes a good case for testing and developing the approach further.

Keywords: conceptual study, growth, scaling, social enterprise

Procedia PDF Downloads 298
6808 Innovation and Economic Growth Model of East Asian Countries: The Adaptability of the Model in Ethiopia

Authors: Khalid Yousuf Ahmed

Abstract:

At the beginning of growth period, East Asian countries achieved impressive economic growth for the decades. They transformed from agricultural economy toward industrialization and contributed to dynamic structural transformation. The achievements were driven by government-led development policies that implemented effective innovation policy to boost technological capability of local firms. Recently, most Sub-Saharan African have been showing sustainable growth. Exceptionally, Ethiopia has been recording double-digit growth for a decade. Hence, Ethiopia has claimed to follow the footstep of East Asia development model. The study is going to examine whether Ethiopia can replicate innovation and economic growth model of East Asia by using Japan, Taiwan, South Korea and China as a case to illustrate their model of growth. This research will be based on empirical data gathering and extended theory of national innovation system and economic growth theory. Moreover, the methodology is based on Knowledge Assessment Methodology (KAM) and also employing cross-countries regression analysis. The results explained that there is a significant relationship between innovation indicators and economic growth in East Asian countries while the relationship is non-existing for Ethiopia except implementing similar policies and achieving similar growth trend. Therefore, Ethiopia needs to introduce inclusive policies that give priority to improving human capital and invest on the knowledge-based economy to replicate East Asian Model.

Keywords: economic growth, FDI, endogenous growth theory, East Asia model

Procedia PDF Downloads 242
6807 Demarcating Wetting States in Pressure-Driven Flows by Poiseuille Number

Authors: Anvesh Gaddam, Amit Agrawal, Suhas Joshi, Mark Thompson

Abstract:

An increase in surface area to volume ratio with a decrease in characteristic length scale, leads to a rapid increase in pressure drop across the microchannel. Texturing the microchannel surfaces reduce the effective surface area, thereby decreasing the pressured drop. Surface texturing introduces two wetting states: a metastable Cassie-Baxter state and stable Wenzel state. Predicting wetting transition in textured microchannels is essential for identifying optimal parameters leading to maximum drag reduction. Optical methods allow visualization only in confined areas, therefore, obtaining whole-field information on wetting transition is challenging. In this work, we propose a non-invasive method to capture wetting transitions in textured microchannels under flow conditions. To this end, we tracked the behavior of the Poiseuille number Po = f.Re, (with f the friction factor and Re the Reynolds number), for a range of flow rates (5 < Re < 50), and different wetting states were qualitatively demarcated by observing the inflection points in the f.Re curve. Microchannels with both longitudinal and transverse ribs with a fixed gas fraction (δ, a ratio of shear-free area to total area) and at a different confinement ratios (ε, a ratio of rib height to channel height) were fabricated. The measured pressure drop values for all the flow rates across the textured microchannels were converted into Poiseuille number. Transient behavior of the pressure drop across the textured microchannels revealed the collapse of liquid-gas interface into the gas cavities. Three wetting states were observed at ε = 0.65 for both longitudinal and transverse ribs, whereas, an early transition occurred at Re ~ 35 for longitudinal ribs at ε = 0.5, due to spontaneous flooding of the gas cavities as the liquid-gas interface ruptured at the inlet. In addition, the pressure drop in the Wenzel state was found to be less than the Cassie-Baxter state. Three-dimensional numerical simulations confirmed the initiation of the completely wetted Wenzel state in the textured microchannels. Furthermore, laser confocal microscopy was employed to identify the location of the liquid-gas interface in the Cassie-Baxter state. In conclusion, the present method can overcome the limitations posed by existing techniques, to conveniently capture wetting transition in textured microchannels.

Keywords: drag reduction, Poiseuille number, textured surfaces, wetting transition

Procedia PDF Downloads 141
6806 Governance and Economic Growth: Evidence for Ten Asian Countries

Authors: Chiung-Ju Huang

Abstract:

This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Keywords: economic growth, frequency domain, governance, granger causality

Procedia PDF Downloads 342
6805 Model Predictive Control Using Thermal Inputs for Crystal Growth Dynamics

Authors: Takashi Shimizu, Tomoaki Hashimoto

Abstract:

Recently, crystal growth technologies have made progress by the requirement for the high quality of crystal materials. To control the crystal growth dynamics actively by external forces is useuful for reducing composition non-uniformity. In this study, a control method based on model predictive control using thermal inputs is proposed for crystal growth dynamics of semiconductor materials. The control system of crystal growth dynamics considered here is governed by the continuity, momentum, energy, and mass transport equations. To establish the control method for such thermal fluid systems, we adopt model predictive control known as a kind of optimal feedback control in which the control performance over a finite future is optimized with a performance index that has a moving initial time and terminal time. The objective of this study is to establish a model predictive control method for crystal growth dynamics of semiconductor materials.

Keywords: model predictive control, optimal control, process control, crystal growth

Procedia PDF Downloads 338
6804 Effect of Temperature on Corrosion Fatigue Cracking Behavior of Inconel 625 in Steam and Supercritical Water

Authors: Hasan Izhar Khan, Naiqiang Zhang, Hong Xu, Zhongliang Zhu, Dongfang Jiang

Abstract:

Inconel 625 is a nickel-based alloy having outstanding corrosion resistance and developed for use at service temperatures ranging from cryogenic to 980°C. It got a wide range of applications in nuclear, petrochemical, chemical, marine, aeronautical, and aerospace industries. Currently, it is one of the candidate materials to be used as a structural material in ultra-supercritical (USC) power plants. In the high-temperature corrosive medium environment, metallic materials are susceptible to corrosion fatigue (CF). CF is an interaction between cyclic stress and corrosive medium environment that acts on a susceptible material and results in initiation and propagation of cracks. For the application of Inconel 625 as a structural material in USC power plants, CF behavior must be evaluated in steam and supercritical water (SCW) environment. Fatigue crack growth rate (FCGR) curves obtained from CF experiments are required to predict residual life of metallic materials used in power plants. In this study, FCGR tests of Inconel 625 were obtained by using compact tension specimen at 550-650 °C in steam (8 MPa) and SCW (25 MPa). The dissolved oxygen level was kept constant at 8000 ppb for the test conducted in steam and SCW. The tests were performed under sine wave loading waveform, 1 Hz loading frequency, stress ratio of 0.6 and maximum stress intensity factor of 32 MPa√m. Crack growth rate (CGR) was detected by using direct current potential drop technique. Results showed that CGR increased with an increase in temperature in the tested environmental conditions. The mechanism concerning the influence of temperature on FCGR are further discussed.

Keywords: corrosion fatigue, crack growth rate, nickel-based alloy, temperature

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6803 Analysis of the Impacts of Capital Goods' Import and Human Capital on the Economic Growth of the Sub Sahahra Africa: A Panel-ARDL Approach

Authors: Adeleke Omolade

Abstract:

The study investigated the impacts of capital goods' import and human capital on the economic growth of the Sub Sahahra Africa (SSA). 30 countries were used in the Panel- ARDL analysis where economic growth is the dependent variables and capital goods' import, human capital, primary export, investment exchange rate, among others were used as the independent variables. The result from the panel analysis indicates that capital goods' import will significantly and positively influence economic growth but human capital fails to have significant positive impact on economic growth of the SSA. Earlier the trend analysis and the correlation results have shown that there is a weak association between capital goods' import and human capital in the SSA. The results offer an expository analysis that reveals that the quality of the human capital is very germane to the effective utilization of capital goods' import for the purpose of growth in a primary goods' export dominated region like the SSA.

Keywords: capital goods import, economic growth, human capital, Sub-Sahara Africa

Procedia PDF Downloads 211
6802 Effect of Enterprise Digital Transformation on Enterprise Growth: Theoretical Logic and Chinese Experience

Authors: Bin Li

Abstract:

In the era of the digital economy, digital transformation has gradually become a strategic choice for enterprise development, but there is a relative lack of systematic research from the perspective of enterprise growth. Based on the sample of Chinese A-share listed companies from 2011 to 2021, this paper constructs A digital transformation index system and an enterprise growth composite index to empirically test the impact of enterprise digital transformation on enterprise growth and its mechanism. The results show that digital transformation can significantly promote corporate growth. The mechanism analysis finds that reducing operating costs, optimizing human capital structure, promoting R&D output and improving digital innovation capability play an important intermediary role in the process of digital transformation promoting corporate growth. At the same time, the level of external digital infrastructure and the strength of organizational resilience play a positive moderating role in the process of corporate digital transformation promoting corporate growth. In addition, while further analyzing the heterogeneity of enterprises, this paper further deepens the analysis of the driving factors and digital technology support of digital transformation, as well as the three dimensions of enterprise growth, thus deepening the research depth of enterprise digital transformation.

Keywords: digital transformation, enterprise growth, digital technology, digital infrastructure, organization resilience, digital innovation

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6801 The Link between Money Market and Economic Growth in Nigeria: Vector Error Correction Model Approach

Authors: Uyi Kizito Ehigiamusoe

Abstract:

The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

Procedia PDF Downloads 326
6800 Profit Share in Income: An Analysis of Its Influence on Macroeconomic Performance

Authors: Alain Villemeur

Abstract:

The relationships between the profit share in income on the one hand and the growth rates of output and employment on the other hand have been studied for 17 advanced economies since 1961. The vast majority (98%) of annual values for the profit share fall between 20% and 40%, with an average value of 33.9%. For the 17 advanced economies, Gross Domestic Product and productivity growth rates tend to fall as the profit share in income rises. For the employment growth rates, the relationships are complex; nevertheless, over long periods (1961-2000), it appears that the more job-creating economies are Australia, Canada, and the United States; they have experienced a profit share close to 1/3. This raises a number of questions, not least the value of 1/3 for the profit share and its role in macroeconomic fundamentals. To explain these facts, an endogenous growth model is developed. This growth and distribution model reconciles the great ideas of Kaldor (economic growth as a chain reaction), of Keynes (effective demand and marginal efficiency of capital) and of Ricardo (importance of the wage-profit distribution) in an economy facing creative destruction. A production function is obtained, depending mainly on the growth of employment, the rate of net investment and the profit share in income. In theory, we show the existence of incentives: an incentive for job creation when the profit share is less than 1/3 and another incentive for job destruction in the opposite case. Thus, increasing the profit share can boost the employment growth rate until it reaches the value of 1/3; otherwise lowers the employment growth rate. Three key findings can be drawn from these considerations. The first reveals that the best GDP and productivity growth rates are obtained with a profit share of less than 1/3. The second is that maximum job growth is associated with a 1/3 profit share, given the existence of incentives to create more jobs when the profit share is less than 1/3 or to destroy more jobs otherwise. The third is the decline in performance (GDP growth rate and productivity growth rate) when the profit share increases. In conclusion, increasing the profit share in income weakens GDP growth or productivity growth as a long-term trend, contrary to the trickle-down hypothesis. The employment growth rate is maximum for a profit share in income of 1/3. All these lessons suggest macroeconomic policies considering the profit share in income.

Keywords: advanced countries, GDP growth, employment growth, profit share, economic policies

Procedia PDF Downloads 40
6799 Optimization of Bifurcation Performance on Pneumatic Branched Networks in next Generation Soft Robots

Authors: Van-Thanh Ho, Hyoungsoon Lee, Jaiyoung Ryu

Abstract:

Efficient pressure distribution within soft robotic systems, specifically to the pneumatic artificial muscle (PAM) regions, is essential to minimize energy consumption. This optimization involves adjusting reservoir pressure, pipe diameter, and branching network layout to reduce flow speed and pressure drop while enhancing flow efficiency. The outcome of this optimization is a lightweight power source and reduced mechanical impedance, enabling extended wear and movement. To achieve this, a branching network system was created by combining pipe components and intricate cross-sectional area variations, employing the principle of minimal work based on a complete virtual human exosuit. The results indicate that modifying the cross-sectional area of the branching network, gradually decreasing it, reduces velocity and enhances momentum compensation, preventing flow disturbances at separation regions. These optimized designs achieve uniform velocity distribution (uniformity index > 94%) prior to entering the connection pipe, with a pressure drop of less than 5%. The design must also consider the length-to-diameter ratio for fluid dynamic performance and production cost. This approach can be utilized to create a comprehensive PAM system, integrating well-designed tube networks and complex pneumatic models.

Keywords: pneumatic artificial muscles, pipe networks, pressure drop, compressible turbulent flow, uniformity flow, murray's law

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6798 Experimental Investigation on the Behavior of Steel Fibers Reinforced Concrete under Impact Loading

Authors: Feng Fu, Ahmad Bazgir

Abstract:

This study aimed to investigate and examine the structural behaviour of steel fibre reinforced concrete slabs when subjected to impact loading using drop weight method. A number of compressive tests, tensile splitting tests, as well as impact tests were conducted. The experimental work consists of testing both conventional reinforced slabs and SFRC slabs. Parameters to be considered for carrying out the test will consist of the volume fraction of steel fibre, type of steel fibres, drop weight height and number of blows. Energy absorption of slabs under impact loading and failure modes were examined in-depth and compared with conventional reinforced concrete slab are investigated.

Keywords: steel fibre reinforce concrete, compressive test, tensile splitting test, impact test

Procedia PDF Downloads 403
6797 Analysis of Population and Growth Rate Methanotof Bateria as Reducers Methane Gases Emission in Rice Field

Authors: Maimuna Nontji

Abstract:

The life cycle of rice plant has three phases of growth; they are the vegetative, reproductive and maturation phase. They greatly affect the life of dynamics metanotrof bacterial as reducer methane emissions in the rice field, both of population and on the rate of growth. The aim of this study was to analyze the population and growth rate of methanotrof isolates which has been isolated in previous studies. Isolates were taken at all the life cycle of rice plant. Population of analysis was conducted by standard plate count method and growth rate was analysed by logarithmic calculation. The results showed that each isolate varied in population and growth rate. The highest population was obtained in the isolates Gowa Methanotrof Reproductive (GMR 8) about 7.06 x 10 11 cfu / ml on 3 days of incubation and the lowest population was obtained in the Gowa Methanotrof Maturation (GMP 5) about 0.27 x 10 11 cfu / ml on 7 day of incubation. Some isolate were demonstrated in long growth rate about 5 days of incubation and another are 3 days.

Keywords: emission, methanotrof, methane, population

Procedia PDF Downloads 427
6796 The Effect of Low Voltage Direct Current Applications on the Growth of Microalgae Chlorella Vulgaris

Authors: Osman Kök, İlhami̇ Tüzün, Yaşar Aluç

Abstract:

This study was conducted to explore the effect of direct current (DC) applications on the growth of microalgae Chlorella vulgaris KKU71, isolated from highly saline freshwater. Experiments were implemented based upon the cross-combinations of both the intensity and duration of electric applications, generating a full factorial design of 10V, 20V, 30V, and 5s, 30s, 60s, respectively. Growth parameters of cultures were monitored on Optical Density (OD), Cell Count (CC), Chlorophyll-a, b (Chl-a, b), and Total Carotenoids (TCar). All DC-assisted treatments stimulated the growth and thus led to higher values of growth parameters such as OD, CC, Chl-a, and TCar. Monotonically increasing with the intensity and duration of DC applications, wet and dry biomass yields of the harvested algae reached their highest level at 30V-60s in all sets of treatments. In addition, this increase between DC applications was listed as C(control)<10V<20V<30V and C<5s<30s<60s. As a result, direct current applications increased the biomass.

Keywords: Chlorella Vulgaris, direct current, growth, biomass

Procedia PDF Downloads 120
6795 Moderators of the Relationship between Entrepreneurial Self-Efficacy and Expected Firm Growth

Authors: Laszlo Szerb, Zsofia Voros

Abstract:

In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM APS (Global Entrepreneurship Monitor Adult Population Survey) data, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changes as business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior (2006) as a modeling framework, we illustrate that early stage business owners’ overconfidence results in overly high firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. Overall, our study empirically links young entrepreneurs’ overconfidence to their growth expectations at the firm level. This link is important to establish as expected growth was linked to realized growth both on micro and macro levels. Moreover, we detected several moderators of this relationship providing a potential answer to why many studies failed to link entrepreneurial self-efficacy to growth expectations.

Keywords: self-efficacy, overconfidence, entrepreneurship, expected growth

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6794 Whether Asset Growth is Systematic Risk: Evidence from Thailand

Authors: Thitima Chaiyakul

Abstract:

The number of previous literature regarding to the effect of asset growth and equity returns is small. Furthermore, those literature are mainly focus in the developed markets. According to my knowledge, there is no published paper examining the effect of asset growth and equity returns in the Stock Exchange of Thailand in different industry groups. The main objective in this research is the testing the effect of asset growth to equity returns in different industry groups. This study employs the data of the listed companies in the Stock Exchange of Thailand during January 1996 and December 2014. The data of financial industry are exclude from this study due to the different meaning of accounting terms. The results show the supported evidence that the asset growth positively affects the equity returns at a statistically significance level of at least 5% in Agro& Food Industry, Industrials, and Services Industry Groups. These results are inconsistent with the previous research testing in developed markets. Nevertheless, the statistically significances of the effect of asset growth to equity returns appear in some cases. In summary, the asset growth is a non-systematic risk and it is a mispricing factor.

Keywords: asset growth, asset pricing, equity returns, Thailand

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6793 Oxidation Assessment of Mayonnaise with Headspace Single-Drop Microextarction (HS-SDME) Coupled with Gas Chromatography-Mass Spectrometry (GC-MS) during Shelf-Life

Authors: Kooshan Nayebzadeh, Maryam Enteshari, Abdorreza Mohammadi

Abstract:

The oxidative stability of mayonnaise under different storage temperatures (4 and 25˚C) during 6-month shelf-life was investigated by different analytical methods. In this study, headspace single-drop microextarction (HS-SDME) combined with gas chromatography-mass spectrometry (GC-MS) as a green, sensitive and rapid technique was applied to evaluate oxidative state in mayonnaise. Oxidation changes of extracted oil from mayonnaise were monitored by analytical parameters including peroxide value (PV), p-Anisidine value (p-An V), thiobarbituric acid value (TBA), and oxidative stability index (OSI). Hexanal and heptanal as secondary volatile oxidation compounds were determined by HS-SDME/GC-MS method in mayonnaise matrix. The rate of oxidation in mayonnaises increased during storage and it was determined greater at 25 ˚C. The values of Anisidine and TBA were gradually enhanced during 6 months, while the amount of OSI decreased. At both temperatures, the content of hexanal was higher than heptanal during all storage periods. Also significant increments in hexanal and heptanal concentrations in the second and sixth month of storage have been observed. Hexanal concentrations in mayonnaises which were stored at 25 ˚C and during storage time showed the highest values. It can be concluded that the temperature and duration of storage time are definitive parameters which affect on quality and oxidative stability of mayonnaise. Additionally, hexanal content in comparison to heptanal is a more reliable oxidative indicator and HS-SDME/GC-MS can be applied in a quick and simple manner.

Keywords: oxidative stability, mayonnaise, headspace single-drop microextarction (HS-SDME), shelf-life

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6792 Major Factors That Enhance Economic Growth in South Africa: A Re-Examination Using a Vector Error Correction Mechanism

Authors: Temitope L. A. Leshoro

Abstract:

This study explored several variables that enhance economic growth in South Africa, based on different growth theories while using the vector error correction model (VECM) technique. The impacts and contributions of each of these variables on GDP in South Africa were investigated. The motivation for this study was as a result of the weak economic growth that the country has been experiencing lately, as well as the continuous increase in unemployment rate and deteriorating health care system. Annual data spanning over the period 1974 to 2013 was employed. The results showed that the major determinants of GDP are trade openness, government spending, and health indicator; as these variables are not only economically significant but also statistically significant in explaining the changes in GDP in South Africa. Policy recommendations for economic growth enhancement are suggested based on the findings of this study.

Keywords: economic growth, GDP, investment, health indicator, VECM

Procedia PDF Downloads 253
6791 Characterization of High Phosphorus Gray Iron for the Stub- Anode Connection in the Aluminium Reduction Cells

Authors: Mohamed M. Ali, Adel Nofal, Amr Kandil, Mahmoud Agour

Abstract:

High phosphorus gray iron (HPGI) is used to connect the steel stub of an anode rod to a prebaked anode carbon block in the aluminium reduction cells. In this paper, a complete characterization for HPGI was done, includes studying the chemical composition of the HPGI collar, anodic voltage drop, collar temperature over 30 days anode life cycle, microstructure and mechanical properties. During anode life cycle, the carbon content in HPGI was lowed from 3.73 to 3.38%, and different changes in the anodic voltage drop at the stub- collar-anode connection were recorded. The collar temperature increases over the anode life cycle and reaches to 850°C in four weeks after anode changing. Significant changes in the HPGI microstructure were observed after 3 and 30 days from the anode changing. To simulate the actual operating conditions in the steel stub/collar/carbon anode connection, a bench-scale experimental set-up was designed and used for electrical resistance and resistivity respectively. The results showed the current HPGI properties needed to modify or producing new alloys with excellent electrical and mechanical properties. The steel stub and HPGI thermal expansion were measured and studied. Considerable permanent expansion was observed for the HPGI collar after the completion of the heating-cooling cycle.

Keywords: high phosphorus gray iron (HPGI), aluminium reduction cells, anodic voltage drop, microstructure, mechanical and electrical properties

Procedia PDF Downloads 433
6790 Load Relaxation Behavior of Ferritic Stainless Steels

Authors: Seok Hong Min, Tae Kwon Ha

Abstract:

High-temperature deformation behavior of ferritic stainless steels such as STS 409L, STS 430J1L, and STS 429EM has been investigated in this study. Specimens with fully annealed microstructure were obtained by heat treatment. A series of load relaxation tests has been conducted on these samples at temperatures ranging from 200 to 900oC to construct flow curves in the strain rate range from 10-6 s-1 to 10-3 s-1. Strain hardening was not observed at high temperatures above 800oC in any stainless steels. Load relaxation behavior at the temperature was closely related with high-temperature mechanical properties such as the thermal fatigue and tensile behaviors. Load drop ratio of 436L stainless steel was much higher than that of the other steels. With increasing temperature, strength and load drop ratio of ferritic stainless steels showed entirely different trends.

Keywords: ferritic stainless steel, high temperature deformation, load relaxation, microstructure, strain rate sensitivity

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6789 Reactive Dyed Superhydrophobic Cotton Fabric Production by Sol-Gel Method

Authors: Kuddis Büyükakıllı

Abstract:

The pretreated and bleached mercerized cotton fabric was dyed with reactive Everzol Brilliant Yellow 4GR (C.I. Yellow 160) dyestuff. Superhydrophobicity is provided to white and reactive dyed fabrics by using a nanotechnological sol-gel method with tetraethoxysilane and fluorcarbon water repellent agents by the two-step method. The effect of coating on color yield, fastness and functional properties of fabric was investigated. It was observed that water drop contact angles were higher in colorless coated fabrics compared to colored coated fabrics, there was no significant color change in colored superhydrophobic fabric and high color fastness values. Although there are no significant color losses in the fabrics after multiple washing and dry cleaning processes, water drop contact angles are greatly reduced.

Keywords: fluorcarbon water repellent agent, colored cotton fabric, sol-gel, superhydrophobic

Procedia PDF Downloads 95
6788 The Competitive Newsvendor Game with Overestimated Demand

Authors: Chengli Liu, C. K. M. Lee

Abstract:

The tradition competitive newsvendor game assumes decision makers are rational. However, there are behavioral biases when people make decisions, such as loss aversion, mental accounting and overconfidence. Overestimation of a subject’s own performance is one type of overconfidence. The objective of this research is to analyze the impact of the overestimated demand in the newsvendor competitive game with two players. This study builds a competitive newsvendor game model where newsvendors have private information of their demands, which is overestimated. At the same time, demands of each newsvendor forecasted by a third party institution are available. This research shows that the overestimation leads to demand steal effect, which reduces the competitor’s order quantity. However, the overall supply of the product increases due to overestimation. This study illustrates the boundary condition for the overestimated newsvendor to have the equilibrium order drop due to the demand steal effect from the other newsvendor. A newsvendor who has higher critical fractile will see its equilibrium order decrease with the drop of estimation level from the other newsvendor.

Keywords: bias, competing newsvendor, Nash equilibrium, overestimation

Procedia PDF Downloads 240
6787 The Nexus between Renewable Energy, Urbanization, Industrialization and Economic Growth in Pakistan

Authors: Zubda Zia, Zainab Masood

Abstract:

This study has investigated the relationship between renewable energy, urbanization, industrialization, and economic growth in Pakistan, through the years 1990-2016. All the three explanatory variables play a pivotal role in their contribution to growth in any economy, especially a developing one such as Pakistan. Auto-regressive distributive lag (ARDL) model has been used to determine the co-integration and relationship between the variables. The empirical results indicate that there exists a positive and significant relationship between all the three variables and economic growth and that there is a stable, long-run relationship among them. Policy suggestions that incorporate the results include having a larger share of renewable energy in the energy sector, using urbanization as a means to remove the big city trend and move towards, smaller sustainable cities, etc.

Keywords: economic growth, energy crisis, industrialization, renewable energy, SGDs, urbanization

Procedia PDF Downloads 165
6786 Financial Inclusion for Inclusive Growth in an Emerging Economy

Authors: Godwin Chigozie Okpara, William Chimee Nwaoha

Abstract:

The paper set out to stress on how financial inclusion index could be calculated and also investigated the impact of inclusive finance on inclusive growth in an emerging economy. In the light of these objectives, chi-wins method was used to calculate indexes of financial inclusion while co-integration and error correction model were used for evaluation of the impact of financial inclusion on inclusive growth. The result of the analysis revealed that financial inclusion while having a long-run relationship with GDP growth is an insignificant function of the growth of the economy. The speed of adjustment is correctly signed and significant. On the basis of these results, the researchers called for tireless efforts of government and banking sector in promoting financial inclusion in developing countries.

Keywords: chi-wins index, co-integration, error correction model, financial inclusion

Procedia PDF Downloads 630
6785 Effect of Swirling Mixer on the Exhaust Flow in a Diesel SCR Aftertreatment System

Authors: Doo Ki Lee, Kumaresh Selvakumar, Man Young Kim, In Jae Song

Abstract:

The widespread utilization of mixer in selective catalytic reduction (SCR) system marks a remarkable advantage in diesel engines. In the automotive selective catalytic reduction (SCR) system, the de-NOX efficiency can be improved by highly uniform flow with effective turbulent mixing. In this paper, the exhaust pipe is complemented with the swirling mixers of three different vane angles installed at the upstream of the SCR reactor. The attributes of the mixer are established by the variation in flow behavior followed by the drawback owing to the absence of mixer. In particular, the information pertaining to the selection of proper static mixer is provided based on the correlation between the uniformity index (UI) and the pressure drop. The uniform distribution of the flow at the entrance of the SCR reactor aids to determine the configuration which gives high mixing performance and comprehend the function of the mixer.

Keywords: pressure drop, selective catalytic reduction, static mixer, turbulent mixing, uniformity index

Procedia PDF Downloads 914
6784 Kinetic Monte Carlo Simulation of ZnSe Homoepitaxial Growth and Characterization

Authors: Hamid Khachab, Yamani Abdelkafi, Mouna Barhmi

Abstract:

The epitaxial growth has great important in the fabricate of the new semi-conductors devices and upgrading many factors, such as the quality of crystallization and efficiency with their deferent types and the most effective epitaxial technique is the molecular beam epitaxial. The MBE growth modeling allows to confirm the experiments results out by atomic beam and to analyze the microscopic phenomena. In of our work, we determined the growth processes specially the ZnSe epitaxial technique by Kinetic Monte Carlo method and we also give observations that are made in real time at the growth temperature using reflection high energy electron diffraction (RHEED) and photoemission current.

Keywords: molecular beam epitaxy, II-VI, morpholy, photoemission, RHEED, simulation, kinetic Monte Carlo, ZnSe

Procedia PDF Downloads 468
6783 Foreign Direct Investment and Its Impact on the Economic Growth of Emerging Economies: Does Ease of Doing Business Matter?

Authors: Mutaju Marobhe, Pastory Dickson

Abstract:

This study explores the role of Foreign Direct Investment (FDI) in stimulating economic growth of emerging economies. FDIs have been associated with higher economic growth rates in developed countries due to the presence of conducive business conditions e.g. advanced financial markets which may accelerate the rate at which FDI boosts economic growth. So this study sets out to evaluate this macroeconomic phenomenon in emerging economies using the case study of Southern Africa Development Community (SADC) countries. The study uses Ease of Doing Business Index as a variable that moderates the relationship between FDI and economic growth. Panel data ranging from 2010 to 2019 from all SADC members are used and due to the unbalanced nature of the data, fixed effects regression analysis with moderation effect is used to assess this phenomenon. The conclusions and recommendations generated by this study will enable emerging economies to depict how they can be able to significantly improve FDI’s role in accelerating economic growth similarly to developed economies.

Keywords: ease of doing business, economic growth, emerging economies, foreign direct investment

Procedia PDF Downloads 126