Search results for: ion exchange resin

Authors: Yi-Hsien Wang, Fu-Ju Yang, Hwa-Rong Shen, Rui-Lin Tseng

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The business is notably related to the market risk according to the increase of liberalization of financial markets. Hence, the company usually utilized high financial leverage of derivatives to hedge the risk. When the company choose different hedging instruments to face a variety of exchange rate risk, we employ the Multinomial Logistic-AHP to analyze the impact of various derivatives. Hence, the research summarized the literature on relevant factors affecting managers selected exchange rate hedging instruments, using Multinomial Logistic Model and and further integrate AHP. Using Experts’ Questionnaires can test multi-level selection and hedging effect of different hedging instruments in order to calculate the hedging instruments and the multi-level factors of weights to understand the gap between the empirical results and practical operation. Finally, the Multinomial Logistic-AHP Model will sort the weights to analyze. The research findings can be a basis reference for investors in decision-making.

Keywords: exchange rate risk, derivatives, hedge, multinomial logistic-AHP

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Authors: Abd El Rahman Mohamed

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Canopic jars made by the ancient Egyptians from different materials were used to preserve the viscera during the mummification process. The canopic jar studied here dates back to the Late Period (712-332 BC). It is found in the Grand Egyptian Museum (GEM), Giza, Egypt. This jar was carved from limestone and covered with a monkey head lid with painted eyes and ears with red pigment and surrounded with black pigment. The jar contains bandages of textile containing mummy viscera with resin and black resin blocks. The canopic jars were made using the sculpting tools that were used by the ancient Egyptians, such as metal chisels (made of copper) and hammers and emptying the mass of the jar from the inside using a tool invented by the ancient Egyptians, which called the emptying drill. This study also aims to use analytical techniques to identify the components of the jar, its contents, pigments, and previous restoration materials and to understand its deterioration aspects. Visual assessment, isolation and identification of fungi, optical microscopy (OM), scanning electron microscopy (SEM), X-ray fluorescence spectroscopy (XRF), X-ray diffraction (XRD), and Fourier transform infrared spectroscopy (FTIR) were used in our study. The jar showed different signs of deterioration, such as dust, dirt, stains, scratches, classifications, missing parts, and breaks; previous conservation materials include using iron wire, completion mortar and an adhesive for assembly. The results revealed that the jar was carved from Dolomite Limestone, red Hematite pigment, Mastic resin, and Linen textile bandages. The previous adhesive was Animal Glue and used Gypsum for the previous completion. The most dominant Microbial infection on the jar was found in the fungi of (Penicillium waksmanii), (Nigrospora sphaerica), (Actinomycetes sp) and (Spore-Forming Gram-Positive Bacilli). Conservation procedures have been applied with high accuracy to conserve the jar, including mechanical and chemical cleaning, re-assembling, completion and consolidation.

Keywords: Canopic jar, Consolidation, Mummification, Resin, Viscera.

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Authors: Rakiya Abba

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This paper investigates the effect of the money supply, exchange and interest rate on economic growth in Nigeria through the application of Augmented Dickey-Fuller technique in testing the unit root property of the series and Granger causality test of causation between GDP, money supply, the exchange, and interest rate. The results of unit root suggest that all the variables in the model are stationary at 1, 5 and 10 percent level of significance, and the results of Causality suggest that money supply and exchange granger cause IR, the result further reveals two – way causation existed between M2 and EXR while IR granger cause GDP the null hypothesis is rejected and GDP does not granger cause IR as indicated by their probability values of 0.4805 and confirmed by F-statistics values of 0.75483. The results revealed that M2 and EXR do not granger causes GDP, the null hypothesis is accepted at 75percent 18percent respectively as indicated by their probability values of 0.7472 and 0.1830 respectively; also, GDP does not granger cause M2 and EXR. The Johansen cointegration result indicates that despite GDP does not granger cause M2, IR, and EXR, but there existed 1 cointegrating equation, implying the existence of long-run relationship between GDP, M2 IR, and EXR. A major policy implication of this result is that economic growth is function of and money supply and exchange rate, effective monetary policies should direct on manipulating instruments and importance should be placed on justification for adopting a particular policy be rationalized in order to increase growth in economy

Keywords: economic growth, money supply, interest rate, exchange rate, causality

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Authors: Tachita Vlad-Bubulac, Ionela-Daniela Carja, Diana Serbezeanu, Corneliu Hamciuc, Vicente Javier Forrat Perez

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The present work describes the preparation of new organophosphorus compounds with high content of phosphorus followed by the incorporation of these compounds into epoxy resin systems in order to investigate the phosphorus effect in terms of thermal stability, flame-retardant and mechanical properties of modified epoxy resins. Thus, two new organophosphorus compounds have been synthesized and fully characterized. 6-Oxido-6H-dibenz[c,e][1,2]oxaphosphorinyl-phenylcarbinol has been prepared by the addition reaction of P–H group of 9,10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide to carbonyl group of benzaldehyde. By treating the phenylcarbinol derivative with POCl3 a new phosphorus compound was obtained, having a content of 12.227% P. The organophosphorus compounds have been purified by recrystallization while their chemical structures have been confirmed by melting point measurements, FTIR and HNMR spectroscopies. In the next step various flame-retardant epoxy resins with different content of phosphorus have been prepared starting from a commercial epoxy resin and using dicyandiamide (DICY) as a latent curing agent in the presence of an accelerator. Differential scanning calorimetry (DSC) has been applied to investigate the behavior and kinetics of curing process of thermosetting systems. The results showed that the best curing characteristic and glass transition temperature are obtained at a ratio of epoxy resin: DICY: accelerator equal to 94:5:1. The thermal stability of the phosphorus-containing epoxy resins was investigated by thermogravimetric analysis in nitrogen and air, DSC, SEM and LOI test measurements.

Keywords: epoxy resins, flame retardant properties, phosphorus-containing compounds, thermal stability

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Authors: Mojtaba Soltani, Edi Suhaimi Bakar, Hamid Reza Naji

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Date Palm Wood (D.P.W) specimens were impregnated with Phenol formaldehyde (PF) resin at 15% level, using vacuum/pressure method. Three levels of moisture content (MC) (50%, 60%, and 70% ) before pressing stage and three hot pressing times (15, 20, and 30 minutes) were the variables. The boards were prepared at 20% compression rate. The physical properties of specimens such as spring back, thickness swelling and water absorption, and mechanical properties including MOR, MOE were studied and compared between variables. The results indicated that the percentage of MC levels before compression set was the main factor on the properties of the Date Palm Compreg. Also, the results showed that this compregnation method can be used as a good method for making high-quality bio-composite from Date Palm Wood.

Keywords: Date palm, phenol formaldehyde resin, high-quality bio-composite, physical and mechanical properties

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Authors: Satyendra P. Chaurasia, Aditi Sharma, Ajay K. Dalai

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The esterification of Docosahexaenoic acid (DHA) with glycerol using immobilized Mucor mie-hei lipase (MML) and Rhizopus oryzae lipase (ROL) have been studied in the present paper to synthesize triglycerides (TG) rich in DHA. Both immobilized lipases (MML and ROL), and their support materials (immobead-150 and ion-exchange resin) were characterized and compared for surface properties with BET, for chemical functional groups with FT-IR, and for particle size distribution with particle size analyzer. The most suitable reaction conditions for synthesis of DHA rich TG in biphasic solvent system were found as 1:3 (wt/wt) glycerol to DHA ratio, 1:1 (wt/wt) buffer to DHA ratio, 1:1 (wt/wt) solvent to DHA ratio at 50 ºC temperature, and 600 rpm speed of agitation with 100 mg of immobilized lipases. Maximum 95.9 % esterification was obtained with immobilized MML in 14 days reaction with formation of 65.7 wt% DHA rich TG. Whereas, immobilized ROL has shown formation of only 23.8 wt% DHA rich TG with total 78.9 % esterification in 15 days. Additionally, repeated use of both immobilized lipases was con-ducted up to five cycles, indicated 50.4% and 41.2 % activity retention after fifth repeated use of immobilized MML and ROL, respectively.

Keywords: DHA, immobilized Mucor miehei lipase, Rhizopus oryzae lipase, esterification

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Authors: Karan R. Chavan, Paula Saavalainen, Kumudini V. Marathe, Riitta L. Keiski, Ganapati D. Yadav

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Co-contamination of groundwaters by arsenic in different forms is often observed around the globe. Arsenic is introduced into the waters by several mechanisms and different technologies are proposed and practiced for effective removal. The assessment of three prominent technologies, namely, adsorption, ion exchange and nanofiltration was carried out in this study based on lifecycle methodology. The life of the technologies was divided into two stages: cradle to gate (C-G) and gate to gate (G-G), in order to find out the impacts in different categories of environmental burdens, human health and resource consumption. Life cycle inventory was estimated by use of models and design equations concerning with the different technologies. Regeneration was considered for each technology and over the course of its full lifetime. The impact values of adsorption technology for the C-G stage are greater by thousand times (103) and million times (106) compared to ion exchange and nanofiltration technologies, respectively. The impact of G-G stage of the lifecycle is the major contributor of the impact for all the 3 technologies due to electricity consumption during the operation. Overall, the ion Exchange technology fares well in this study of removal of As (V) only.

Keywords: arsenic, nanofiltration, lifecycle assessment, membrane technology

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Authors: Erfan Memarian, Seyyed Fazayel Alizadeh

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This study aims to evaluate the impacts of the oil and financial markets of the United States on Iran stock exchange and to develop an ARDL model to predict the short and long-term relationship between these markets. In this regard, all 713 weekly data between 28 July 1999 and 20 March 2013 were analyzed by using Microfit4.0 and Eviews7 econometric softwares. The independent variable of the study is the “Price and Yield Index (TEDPIX)” of Tehran Stock Exchange and the independent variables include S & P 500 Index, the US three-month treasury bill rate and West Texas Intermediate oil spot price index. The results show that the West Texas Intermediate oil spot price and the S&P 500 indices have significant positive relationships with Iran's TEDPIX. Also, there exists a significant negative relationship between Iran's TEDPIX and the US three-month Treasury bill rate.

Keywords: TEDPIX; Tehran Stock Exchange; S&P 500 index; USA three-month Treasury bill rate; West Texas Intermediate oil

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Authors: Sisaynew Tesfaw Admassu

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The strengthening of timber beams can be necessary for several reasons including the increase of live loads (possible in a historical building for a change of destination of use or upgrading to meet new requirements), the reduction of the resistant cross-sections following deterioration (attacks of biological agents such as fungi, and insects) or traumatic events (fires) and the excess of deflection in the members. The main purpose of strengthening an element is not merely to repair it, but also to prevent and minimize the appearance of future problems. This study did an experimental investigation on the behavior of reference and strengthened solid timber beams. The strengthening materials used in this study were CSM-450 glass fiber and steel materials for both flexural and shear strengthening techniques. Twenty-two solid timber beams of Juniperus procera (TID) species with the dimensions of 60 x 90 x 780 mm were used in the present study. The binding material to bond the strengthening materials with timber was general-purpose resin with Luperox® K10 MEKP catalyst. Three beams were used as control beams (unstrengthen beams) while the remaining nineteen beams were strengthened using the strengthening materials for flexure and shear. All the beams were tested for three points loading to failure by using a Universal Testing Machine, UTM-600kN machine. The experimental results showed that the strengthened beams performed better than the unstrengthen beams. The experimental result of flexural strengthened beams showed that the load-bearing capacity of strengthened beams increased between 16.34 – 42.55%. Four layers of Glass Fiber Reinforced polymer on the tension side of the beams was shown to be the most effective way to enhance load-bearing capacity. The strengthened beams also have an enhancement in their flexural stiffness. The stiffness of flexural strengthened beams was increased between 1.18 – 65.53% as compared to the control beams. The highest increment in stiffness has occurred on beams strengthened using 2x60 mm steel plates. The shear-strengthened beams showed a relatively small amount of performance as compared to flexural-strengthened beams; the reason is that the beams are sufficient for shear. The polyester resin used in the experimental work showed good performance in bonding agents between materials. The resin showed more effectiveness in GFRP materials than steel materials.

Keywords: heritage structures, strengthening, stiffness, adhesive, polyester resin, steel plates

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Authors: Danuta Barnat-Hunek

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The studies are devoted to assessing the effectiveness of hydrophobic and air entraining admixtures based on organ silicon compounds. Mortars with lightweight aggregate–perlite were the subjects of the investigation. The following laboratory tests were performed: density, open porosity, total porosity, absorptivity, capability to diffuse water vapour, compressive strength, flexural strength, frost resistance, sodium sulphate corrosion resistance and the thermal conductivity coefficient. The composition of the two mixtures of mortars was prepared: mortars without a hydrophobic admixture and mortars with cementitious waterproofing material. Surface hydrophobisation was produced on the mortars without a hydrophobic admixture using a methyl silicone resin, a water-based emulsion of methyl silicone resin in potassium hydroxide and alkyl-alkoxy-silane in organic solvents. The results of the effectiveness of hydrophobisation of mortars are the following: The highest absorption after 14 days of testing was shown by mortar without an agent (57.5%), while the lowest absorption was demonstrated by the mortar with methyl silicone resin (52.7%). After 14 days in water the hydrophobisation treatment of the samples proved to be ineffective. The hydrophobised mortars are characterized by an insignificant mass change due to freezing and thawing processes in the case of the methyl silicone resin – 1%, samples without hydrophobisation –5%. This agent efficiently protected the mortars against frost corrosion. The standard samples showed very good resistance to the pressure of sodium sulphate crystallization. Organosilicon compounds have a negative influence on the chemical resistance (weight loss about 7%). The mass loss of non-hydrophobic mortar was 2 times lower than mortar with the hydrophobic admixture. Hydrophobic and aeration admixtures significantly affect the thermal conductivity and the difference is mainly due to the difference in porosity of the compared materials. Hydrophobisation of the mortar mass slightly decreased the porosity of the mortar, and thus in an increase of 20% of its compressive strength. The admixture adversely affected the ability of the hydrophobic mortar – it achieved the opposite effect. As a result of hydrophobising the mass, the mortar samples decreased in density and had improved wettability. Poor protection of the mortar surface is probably due to the short time of saturating the sample in the preparation. The mortars were characterized by high porosity (65%) and water absorption (57.5%), so in order to achieve better efficiency, extending the time of hydrophobisation would be advisable. The highest efficiency was obtained for the surface hydrophobised with the methyl silicone resin.

Keywords: hydrophobisation, mortars, salt crystallization, frost resistance

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Authors: Mohammad Abu Nassar, Mahmoud Al Khalilah, Hussein Abu Nassar

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The purpose of this study is to examine whether corporate tax avoidance practices can impact firm value in the Jordanian context. The study employs a quantitative approach using s sample of (124) industrial and services companies listed on the Amman Stock Exchange for the period from 2010 to 2019. Multiple linear regression analysis has been applied to test the study's hypothesis. The study employs effective tax rate and book-tax difference to measure tax avoidance and Tobin's Q factor to measure firm value. The results of the study revealed that tax avoidance practices, when measured using effective tax rates, do not significantly impact firm value. When the book-tax difference is used to measure tax avoidance, the study results showed a negative impact on firm value. The result of the study has not supported the traditional view of tax avoidance as a transfer of wealth from the government to shareholders for industrial and services companies listed on the Amman Stock Exchange, indicating that Jordanian firms should not use tax avoidance strategies to enhance their value.

Keywords: tax avoidance, effective tax rate, book-tax difference, firm value, Amman stock exchange

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Authors: Salwa Mohamed Salah Eldin, Howida Kamal Ibrahim

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Introduction: Major depressive disorder affects high proportion of the world’s population presenting cost load in health care. Extended release venlafaxine is more convenient and could reduce discontinuation syndrome. The once daily dosing also reduces the potential for adverse events such as nausea due to reduced Cmax. Venlafaxine is an effective first-line agent in the treatment of depression. A once daily formulation was designed to enhance patient compliance. Complexing with a resin was suggested to improve loading of the water soluble drug. The formulated systems were thoroughly evaluated in vitro to prove superiority to previous trials and were compared to the commercial extended release product in experimental animals. Materials and Methods: Venlafaxine-resinates were prepared using Dowex®50WX4-400 and Dowex®50WX8-100 at drug to resin weight ratio of 1: 1. The prepared resinates were evaluated for their drug content, particle shape and surface properties and in vitro release profile in gradient pH. The release kinetics and mechanism were evaluated. Venlafaxine-Dowex® resinates were encapsulated using O/W solvent evaporation technique. Poly-ε-caprolactone, Poly(D, L-lactide-co-glycolide) ester, Poly(D, L-lactide) ester and Eudragit®RS100 were used as coating polymers alone and in combination. Drug-resinate microcapsules were evaluated for morphology, entrapment efficiency and in-vitro release profile. The selected formula was tested in rabbits using a randomized, single-dose, 2-way crossover study against Effexor-XR tablets under fasting condition. Results and Discussion: The equilibrium time was 30 min for Dowex®50WX4-400 and 90 min for Dowex®50WX8-100. The percentage drug loaded was 93.96 and 83.56% for both resins, respectively. Both drug-Dowex® resintes were efficient in sustaining venlafaxine release in comparison to the free drug (up to 8h.). Dowex®50WX4-400 based venlafaxine-resinate was selected for further encapsulation to optimize the release profile for once daily dosing and to lower the burst effect. The selected formula (coated with a mixture of Eudragit RS and PLGA in a ratio of 50/50) was chosen by applying a group of mathematical equations according to targeted values. It recorded the minimum burst effect, the maximum MDT (Mean dissolution time) and a Q24h (percentage drug released after 24 hours) between 95 and 100%. The 90% confidence intervals for the test/reference mean ratio of the log-transformed data of AUC0–24 and AUC0−∞ are within (0.8–1.25), which satisfies the bioequivalence criteria. Conclusion: The optimized formula could be a promising extended release form of the water soluble, short half lived venlafaxine. Being a multiple unit formulation, it lowers the probability of dose dumping and reduces the inter-subject variability in absorption.

Keywords: biodegradable polymers, cation-exchange resin, microencapsulation, venlafaxine hcl

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Authors: Brian Basvi

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A technique for analyzing a security's intrinsic value is called fundamental analysis. It involves looking at relevant financial, economic, and other qualitative and quantitative aspects. Earnings Per Share (EPS), a crucial metric in fundamental analysis, is calculated by dividing a company's net income by the total number of outstanding shares. With more than 70 listed businesses, the Zimbabwe Stock Exchange (ZSE) is the primary stock exchange in Zimbabwe. This study applies the EPS financial ratio and stock valuation techniques to historical stock data from 68 companies listed on the Zimbabwe Stock Exchange. According to a ZSE study, EPS significantly affects share prices that are listed on the market. The study's objective was to assess how fundamental analysis affected the idea of EPS in ZSE stock valuation. It concluded that EPS is an important consideration for investors when they make judgments about their investments. According to the study's findings, fundamental analysis is a useful tool for ZSE investors since it offers insightful information about a company's financial performance and aids in decision-making. Investors can have a better understanding of a company's underlying worth and prospects for future growth by looking into EPS and other basic aspects.

Keywords: fundamental analysis, stock valuation, EPS, share pricing

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Authors: A. Pornpitakdumrong

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The aim of this research study was to develop recipe of Karanda ice cream as healthy promoting ice cream by high protein, low fat and naturally raw material, which found in local area. The results were found that appropriate condition for Karanda ice cream including incubation period, temperature and frozen time, which were 8-12 hours, -20 to -25 °C and 2-4 hours, respectively. Small fruit variety Karanda should selected only ripe fruits for Karanda ice cream made. Because of unripe fruits were contained resin and need to be air dried for reducing level of resin. Therefore, large fruit variety Karanda can be use both ripe and unripe fruits for Karanda ice cream made by without any astringent and bitter taste. However, small fruit variety Karanda was proper to made ice cream for trade, because occurring of industry to select the ripe fruits and commercially frozen, which be providing for the whole year compared with large variety fruits were rarely, low harvesting amount and short shelf life. Karanda ice cream produced from flesh part was attractive but was not accepted by consumers. It may due to resin contained with Karanda pulp, which led to be rough texture of ice cream. We were choose only Karanda juice, which was more appropriated and used Karanda juice with water by 1:1 ratio, because undiluted juice was sour taste. Most acceptance recipe of karanda ice cream product was sixth recipe by 91% of consumers, which was contained soy protein to made ice cream was delicate and swell, milk powder (little amount) to made ice cream was greasy, corn powder as stabilizer and undiluted coconut milk (little amount) to improve ice cream odor and similar to apricot odor.

Keywords: karonda fruits, Carissa carandas Linn, ice cream, healthy ice cream

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Authors: Bouhafara Djaber, Menail Younes, Mesrafet Farouk, Aissaoui Mohammed Islem

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This article presents results of experimental investigations of the durability of (GFRP) composite exposed to typical environments of marine industries applications,The use of fiber-glass reinforced polyester composites in marine applications such as Hulls of voyage boats and hulls of small vessels for the military navy , this type of composite is becoming attractive because of their reduced weight and improved corrosion resistance. However,a deep understating of oil ageing effect on composite structures is essential to ensure long-term performance and durability. in this work evaluate the effect of oil ageing on absorptıon behavıor and ımpact properties of glass/polyester composites manufactured with two types of fiber fabrics (fibreglass mat and fiberglass woven roving) and isophthalic polyester resin. The specimens obtained from commercial (GFRP) profiles made of unsaturated polyester resin were subjected to immersion in (i) marine oil for boats and (ii) salt water at ambient temperature for up to 1 month. The effects of such exposure conditions on this types of profile we analysed in what concerns their (i) mass change,(ii) mechanical response in impact, namely on the mechanical response – oil immersion caused a higher level of degradation, compared with salt water immersion;fracture surface examination by scanning electron microscopy revealed delamination, fiber debonding and resin crumbling due to oil effect.

Keywords: Marine Engine Oil, Absorption, Polyester, Glass Fibre

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Authors: Clarissa D. M. O. Guimaraes, Mariza C. M. Fernandes, Francisco R. V. Diaz, Juliana R. Souza

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The use of mineral fillers in the preparation of organic matrix composites can be an efficient alternative in minimizing the environmental damage generated in passive mineral beneficiation processes. In addition, it may represent a new material option for wind, construction, and aeronautical industries, for example. In this sense, epoxy resin composites with Tailings of Scheelite (TS) were developed. The composites were manufactured with 5%, 10% and 20% of TS in volume percentage, homogenized by mechanical mixing and molded in a silicon mold. In order to make the tribological evaluation, pin on disk tests were performed to analyze coefficient of friction and wear. The wear mechanisms were identified by SEM (scanning electron microscope) images. The coefficient of friction had a tendency to decrease with increasing amount of filler. The wear tends to increase with increasing amount of filler, although it exhibits a similar wear behavior. The results suggest characteristics that are potential used in many tribological applications.

Keywords: composites, mineral filler, tailings of scheelite, tribology

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Authors: Nomakhosi Tshuma, Carley Chetty

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This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt.

Keywords: financial performance, determinants of financial performance, business in Africa, telecommunications industry

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Authors: G.Venkatachalam, Gautham Shankar, Dasarath Raghav, Krishna Kuar, Santhosh Kiran, Bhargav Mahesh

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Uncertainty in the availability of fossil fuels in the future and global warming increased the need for more environment-friendly materials. In this work, an attempt is made to fabricate a hybrid polymer matrix composite. The blend is a mixture of General Purpose Resin and Cashew Nut Shell Liquid, a natural resin extracted from cashew plant. Palm fiber, which has high strength, is used as a reinforcement material. The fiber is treated with alkali (NaOH) solution to increase its strength and adhesiveness. Parametric study of flexure strength is carried out by varying alkali concentration, duration of alkali treatment and fiber volume. Taguchi L9 Orthogonal array is followed in the design of experiments procedure for simplification. With the help of ANOVA technique, regression equations are obtained which gives the level of influence of each parameter on the flexure strength of the composite.

Keywords: Adhesion, CNSL, Flexural Analysis, Hybrid Matrix Composite, Palm Fiber

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Authors: K. N. Umesh

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Wood Polymer Composites (WPC) were synthesized artificially by combining polypropylene, wood and resin. It is difficult to obtain a good surface finish by conventional machining on WPC because of material degradation due to excessive heat generated during the process. In order to preserve the material property and deliver a better surface finish and accuracy, a proper solution is devised for the machining of wood composites at low temperature. This research focuses on studying the effects of parameters of cryogenic machining on sawdust incorporated polypropylene composite material, in view of evolving the most suitable composition and an appropriate combination of process parameters. The machining characteristics of the six different compositions of WPC were evaluated by analyzing the trend. An attempt is made to determine proper combinations material composition and process control parameters, through process capability studies. A WPC of 80%-wood (saw dust particles), 20%-polypropylene and 0%-resin was found to be the best alternative for obtaining the best surface finish under cryogenic machining conditions.

Keywords: Cryogenic Machining, Process Capability, Surface Finish, Wood Polymer Composites

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Authors: Hebe Wong, Luz Fernandez Calventos

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Tandem language learning, a language exchange process based on the principles of autonomy and reciprocity, provides opportunities for interlocutors to learn each other’s language by communicating online or face-to-face. While much attention has been paid to the process and outcomes of tandem learning via email, little has been discussed about the effectiveness of face-to-face tandem learning on language and culture exchange for university students. The LACTS (Language and Culture Tandem Scheme), an 8-week project, was set up to study students’ perceptions of conducting tandem learning to assist their language and culture exchange. Students of both post-graduate and undergraduate programmes (N=103) from a Hong Kong SAR university were put in groups of 4 to 6 according to their availability and language preferences and met for an hour a week. While sample task sheets on a range of topics were provided to assist the language exchange, all groups were encouraged to take charge of their meeting format and choose their own topics. At the end of the project, a 19-item questionnaire, which included both open-and closed-ended questions investigating students’ perceptions of reciprocal teaching and cultural exchange, was administered. Thirty-minute individual interviews were conducted to elicit students’ views and experiences in the LACTS activities. Quantitative and qualitative data analysis showed that most students agreed that the project had enhanced their cultural awareness and helped create an inclusive and participatory learning environment. Significant differences were found in students’ confidence in speaking their targeted language after joining the scheme. The interviews also provided rich data on the variety of formats and leadership patterns in student-led meetings, which could shed light on student autonomy and future tandem language learning projects.

Keywords: autonomy, reciprocity, tandem language learning, university students

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Authors: W. F. Ribeiro, J. L. N. Góes

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The industrial process adds to engineering wood products features absent in solid wood, with homogeneous structure and reduced defects, improved physical and mechanical properties, bio-deterioration, resistance and better dimensional stability, improving quality and increasing the reliability of structures wood. These features combined with using fast-growing trees, make them environmentally ecological products, ensuring a strong consumer market. The wood I-joists are manufactured by the industrial profiles bonding flange and web, an important aspect of the production of wooden I-beams is the adhesive joint that bonds the web to the flange. Adhesives can effectively transfer and distribute stresses, thereby increasing the strength and stiffness of the composite. The objective of this study is to evaluate different resins in a shear strain specimens with the aim of analyzing the most efficient resin and possibility of using national products, reducing the manufacturing cost. First was conducted a literature review, where established the geometry and materials generally used, then established and analyzed 8 national resins and produced six specimens for each.

Keywords: engineered wood products, structural resin, wood i-joist, Pinus taeda

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Authors: P. F. Msomi, P. T. Nonjola, P. G. Ndungu, J. Ramontja

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In view of the projected global energy demand and increasing levels of greenhouse gases and pollutants issues have inspired an intense search for alternative new energy technologies, which will provide clean, low cost and environmentally friendly solutions to meet the end user requirements. Alkaline anion exchange membrane fuel cells (AAEMFC) have been recognized as ideal candidates for the generation of such clean energy for future stationary and mobile applications due to their many advantages. The key component of the AAEMFC is the anion exchange membrane (AEM). In this report, a series of quaternized poly (2.6 dimethyl – 1.4 phenylene oxide)/ polysulfone (QPPO/PSF) blend anionic exchange membranes (AEM) were successfully fabricated and characterized for alkaline fuel cell application. Zinc Oxide (ZnO) nanoparticles were introduced in the polymer matrix to enhance the intrinsic properties of the AEM. The characteristic properties of the QPPO/PSF and QPPO/PSF-ZnO blend membrane were investigated with X-ray diffraction (XRD), thermogravimetric analysis (TGA) scanning electron microscope (SEM) and contact angle (CA). To confirm successful quaternisation, FT-IR spectroscopy and proton nuclear magnetic resonance (1H NMR) were used. Other properties such as ion exchange capacity (IEC), water uptake, contact angle and ion conductivity (IC) were also undertaken to check if the prepared nanocomposite materials are suitable for fuel cell application. The membrane intrinsic properties were found to be enhanced by the addition of ZnO nanoparticles. The addition of ZnO nanoparticles resulted to a highest IEC of 3.72 mmol/g and a 30-fold IC increase of the nanocomposite due to its lower methanol permeability. The above results indicate that QPPO/PSF-ZnO is a good candidate for AAEMFC application.

Keywords: anion exchange membrane, fuel cell, zinc oxide nanoparticle, nanocomposite

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Authors: Dattaji K. Shinde, Ajit D. Kelkar

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Interlaminar shear strength (ILSS) of fiber reinforced polymer composite is an important property for most of the structural applications. Matrix modification is an effective method used to improve the interlaminar shear strength of composite. In this paper, EPON 862/w epoxy system was modified using Tetraethyl orthosilicate (TEOS) electrospun nanofibers (ENFs) which were produced using electrospinning method. Unmodified and nanofibers modified resins were used to fabricate glass fiber reinforced polymer composite (GFRP) using H-VARTM method. The ILSS of the Glass Fiber Reinforced Polymeric Composites (GFRP) was investigated. The study shows that introduction of TEOS ENFs in the epoxy resin enhanced the ILSS of GFRPby 15% with 0.6% wt. fraction of TEOS ENFs.

Keywords: electrospun nanofibers, H-VARTM, interlaminar shear strength, matrix modification

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Authors: Saad Ahmed, Sanjeev Khannaa

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Glass fiber reinforced polymers are widely used in structural systems as load-bearing elements at both high and low temperatures. This investigation presents the evaluation of glass fiber reinforced unsaturated polyurethane under harsh conditions of changing temperature and moisture content. This study Explores how these parameters affect the optical properties of the polymer matrix and the composite. Using the hand layup method, the polyurethane resin was modified by E-glass fibers (15 vol. %) to manufacture fiber-reinforced composite. This work includes the preparation of glass-like polyurethane resin sheets and estimates all light transmittance properties at high and very low temperatures and wet conditions. All-optical properties were retested to evaluate the level of improvement or failure. The results found that when comprising reinforced composite fiber to the unreinforced specimens, the reinforced composite shows a fair optical property at high temperatures and good performance at low temperatures.

Keywords: unsaturated polyurethane, extreme temperatures, light transmittance, haze number

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Authors: Aiswarea Mathew, Smita Mohanty, Jr., S. K. Nayak

Abstract:

Polyurethane networks based on castor oil (CO) as a renewable resource polyol were synthesized. Polyurethane/epoxy resin interpenetrating network nanocomposites containing modified montmorillonite organoclay (C30B-PU/EP nanocomposites) were prepared by an in situ intercalation method. The conventional spectroscopic characterization of the synthesized samples using FT-IR confirms the existence of the proposed castor oil based PU structure and also showed that strong interactions existed between C30B and EP/PU matrix. The dispersion degree of C30B in EP/PU matrix was characterized by X-Ray diffraction (XRD) method. Scanning electronic microscopy analysis showed that the interpenetrating process of PU and EP increases the exfoliation degree of C30B, and it improves the compatibility and the phase structure of polyurethane/epoxy resin interpenetrating polymer networks (PU/EP IPNs). The thermal stability improves compared to the polyurethane when the PU/EP IPN is formed. Mechanical properties including the Young’s modulus and tensile strength reflected marked improvement with addition of C30B.

Keywords: castor oil, epoxy, montmorillonite, polyurethane

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

Abstract:

The Mongolia Stock Exchange (MSE) serves as a vehicle for executing the privatization policy of Mongolian Government as it transitioned from socialist to free market economy. It was also the intention of the Government to develop the investment and securities market through its establishment and to further boost the ailing Mongolian economy. This paper focuses on the contributions of the Mongolian Stock Exchange (MSE) to the industrial and economic development of Mongolia via Corporate fund mobilization for listed companies in Mongolia. A study of this nature is imperative as economic development in Mongolia has been accelerated by corporate investments. The key purpose of the research was to critically analyze the operations of the MSE to ascertain the extent to which the objectives for which it was established have been accomplished and to assess its contributions to industrial and economic development of Mongolia. In achieving this, secondary data on the activities of the MSE; its market capitalization over the years were collected and analyzed vis-à-vis the figures for Mongolia’s macro-economic data for the same time period to determine whether the progressive increase in market capitalization of the MSE has positively impacted on Mongolia’s economic growth. Regression analysis package was utilized in dissecting the data. It was proven that the Mongolian Stock Exchange has contributed positively and significantly to Mongolia’s economic development though not yet to the desired level. Against the findings of this research, recommendations were made to address, the problems facing the MSE and to enhance its performance and ultimately its contributions to industrial and economic development of the Mongolian nation.

Keywords: Corporate Fund Mobilization, Gross Domestic Product (GDP), market capitalization, purchasing power, stock exchange

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Authors: Mohammad Q. M. Momani

Abstract:

The objective of this study is to examine whether the value relevance of ownership structure changed as the Amman Stock Exchange market conditions changed. Using data from 2005 to 2014, the study finds that the performance of portfolios that contain firms with concentrated ownership structure declines significantly during the post-crisis period. These portfolios exhibit poor performance relative to portfolios that contain firms with dispersed ownership structure during the post-crisis period. The results argue that uninspired performance of the Amman Stock Exchange during the post-crisis period, increased the incentives for controlling shareholders to expropriate. Investors recognized these incentives and discounted firms that were more likely to expropriate.

Keywords: value relevance, ownership structure, portfolio performance, Jordan, ASE

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Authors: Gultekin Gurcay

Abstract:

The objective of this study was to examine the relationship between transformational leadership and innovative work behavior and to evaluate the mediating role of leader-member exchange relationships (LMX) on the assumed relationship. This study has focused on the suggestion that LMX might emerge through transformational leadership behaviors and thus could mediate the relationship between transformational leadership and innovative behavior. A cross-sectional survey research has been conducted on the relationship these leadership approaches and their impact on organizational HRM-outcomes has been conducted on two organizations operating in the technical sector in Istanbul-Turkey. The results of the research have supported the hypotheses. Transformational leadership was positively related to the innovative behaviors and LMX emerged to mediate that relationship.

Keywords: innovative leadership, leader-member exchange, transformational leadership, Turkey

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Authors: Thomas Chinwe Urama, Patrick Oseloka Ezepue, Peters Chimezie Nnanwa

Abstract:

This paper investigates the universal financial dynamics in two dominant stock markets in Sub-Saharan Africa, through an in-depth analysis of the cross-correlation matrix of price returns in Nigerian Stock Market (NSM) and Johannesburg Stock Exchange (JSE), for the period 2009 to 2013. The strength of correlations between stocks is known to be higher in JSE than that of the NSM. Particularly important for modelling Nigerian derivatives in the future, the interactions of other stocks with the oil sector are weak, whereas the banking sector has strong positive interactions with the other sectors in the stock exchange. For the JSE, it is the oil sector and beverages that have greater sectorial correlations, instead of the banks which have the weaker correlation with other sectors in the stock exchange.

Keywords: random matrix theory, cross-correlations, emerging markets, option pricing, eigenvalues eigenvectors, inverse participation ratios and implied volatility

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Authors: Yunusa Audu, Alona Cuevas Linatoc, Aisha Idris

Abstract:

The maximum carboxylation rate of Rubisco (Vcmax) and the maximum electron transport rate (Jmax), light compensation point (LCP), light saturation point (LSP), maximum photosynthesis (Amax), and apparent quantum yield (Aqy) are gas exchange characteristics that are derived from the carbon dioxide (CO2) and light response curves. This characteristics can be affected by the level of CO2 and light received by the plant. Moreover, the characteristics determines the photosynthetic capacity of the plant. The objective of the study is to evaluate the gas exchange characteristics of selected plant species of UTHM. Photosynthetic carbon dioxide (A\Ci) and light (A/Q) response curves were measured using portable photosynthesis system (LICOR). The results shows that both A/Ci and A/Q curves increases as CO2 and light increases, but reach to a certain point where the curves will become saturated. Spathodea campanulata was having the highest Vcmax (52.14±0.005 µmolCO2 m-2s-1), Jmax (104.461±0.011 µmolCO2 m-2s-1) and Aqy (0.072±0.001 mol CO2 mol-1 photons). The highest LCP was observed in Rhaphis excelsa (69.60±0.067 µmol photons m-2s-1) while the highest LSP was recorded for Costus spicatus (1576.69±0.173 µmol photons m-2s-1). It was concluded that the plants need high light intensity and CO2 for their maximum assimilation rate.

Keywords: Gas, Co2, Exchange, Plants

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