Search results for: market separation

Authors: Serpil Türkyılmaz, Mesut Balıbey

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In this study, long memory properties in volatility of Turkey Stock Market are being examined through the FIGARCH, FIEGARCH and FIAPARCH models under different distribution assumptions as normal and skewed student-t distributions. Furthermore, structural changes in volatility of Turkey Stock Market are investigated. The results display long memory property and the presence of asymmetric effects of shocks in volatility of Turkey Stock Market.

Keywords: FIAPARCH model, FIEGARCH model, FIGARCH model, structural break

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Authors: Kamel Malik Bensafta, Gervasio Semedo

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The purpose of this paper is to investigate the relationship between oil prices and socks markets. The empirical analysis in this paper is conducted within the context of Multivariate GARCH models, using a transform version of the so-called BEKK parameterization. We show that mean and uncertainty of US market are transmitted to oil market and European market. We also identify an important transmission from WTI prices to Brent Prices.

Keywords: oil volatility, stock markets, MGARCH, transmission, structural break

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Authors: Choi Woo-Seok, Kim Eun-Sup, Ha Eun-Ryong

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Converter slag is used as a low-value product like a construction fill material and soil stabilizer unlike electric furnace slag and blast furnace slag. This study is fundamental research for utilizing the converter slag as the cement admixture. Magnetic separation was conducted for quality improvement of the converter slag, and it was classified according to into 3 types; SA: pure slag, SB: separated slag, SC: remained slag after separating. In XRF result, SB slag was Fe₂CO₃ ratio was higher, and CaO ratio was lower than SA. SC slag was Fe₂CO₃ ratio was lower, and CaO ratio was higher than SA. In compressive strength test for soil cement using SA, SB, SC as the cement admixture, SC slag was more effective in terms of 28days compressive strength than SA, SB slag. In this result, it is considered that the remained material (SC) after magnetic separation is available as the cement admixture.

Keywords: converter slag, magnetic separation, cement admixture, compressive strength

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Authors: L. Maiza, A. Cantagrel, M. Forestier, G. Laucoin, T. Regali

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Evaluation of High Frequency Trading (HFT) impact on financial markets is very important for traders who use market analysis to detect winning transaction opportunity. Analysis of HFT data on tobacco commodity market is discussed here and interesting linear relationship has been shown between trading frequency and difference between averaged trading prices above and below considered trading frequency. This may open new perspectives on markets data understanding and could provide possible interpretation of Adam Smith invisible hand.

Keywords: financial market, high frequency trading, analysis, impacts, Adam Smith invisible hand

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Authors: Mario Zgela

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Application of Benford’s Law is very rarely covered in the field of stock market analysis, especially in percentage change of stock market indices. Deutscher Aktien IndeX (DAX) is very important stock market index of Frankfurt Deutsche Börse which serves as underlying basis for large number of financial instruments. It is calculated for selected 30 German blue chips stocks. In this paper, Benford's Law first digit test is applied on 10 year DAX daily percentage changes in order to check compliance. Deviations of 10 year DAX percentage changes set as well as distortions of certain subsets from Benford's Law distribution are detected. It is possible that deviations are the outcome of speculations; and psychological influence should not be eliminated.

Keywords: Benford's Law, DAX, index percentage changes, stock market

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Authors: Weera Weerasophon

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The purpose of this research was to study Tourists’s satisfaction strategies case of Tourists who attended and shopped in Chatuchak weekend market (Bangkok) in order to improve service operation of Chatuchak weekend market to serve tourists’ need to impress them. The researcher used the marketing mix as a main factor that affect to tourist satisfaction. This research was emphasized as quantitative research as 400 of questionnaires were used for collecting the data from international tourists around Chatuchak weekend market that questionnaires divided in to 3 parts as a personal information part, satisfaction of marketing/services and facilities and suggestion part. After collecting all the data that would be processed in statistic program of SPSS to use for analyze the data later on. The result is described that most of international tourists satisfied Chatuchak weekend market in the level of 4 as more satisfaction for example friendly staff, Chatuchak information, price of product, facilities and service by the way, the environment of Chatuchak weekend market is the most satisfaction level.

Keywords: Chatuchak, satisfaction, Thailand tourism, marketing mix, tourists

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Authors: A. Novikova, L. Rocchi, G. Startiene

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Market and non-market outputs are produced jointly in agriculture. Their supply depends on the intensity and type of production. The role of agriculture as an economic activity and its effects are important for the Lithuanian case study, as agricultural land covers more than a half of country. Positive and negative externalities, created in agriculture are not considered in the market. Therefore, specific techniques such as stated preferences methods, in particular choice experiments (CE) are used for evaluation of non-market outputs in agriculture. The main aim of this paper is to present construction of the research path for evaluation of non-market farming system outputs in Lithuania. The conventional and organic farming, covering crops (including both cereal and industrial crops) and livestock (including dairy and cattle) production has been selected. The CE method and nested logit (NL) model were selected as appropriate for evaluation of non-market outputs of different farming systems in Lithuania. A pilot survey was implemented between October–November 2018, in order to test and improve the CE questionnaire. The results of the survey showed that the questionnaire is accepted and well understood by the respondents. The econometric modelling showed that the selected NL model could be used for the main survey. The understanding of the differences between organic and conventional farming by residents was identified. It was revealed that they are more willing to choose organic farming in comparison to conventional farming.

Keywords: choice experiments, farming system, Lithuania market outputs, non-market outputs

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Authors: Salah Al-Din I. Badran, Samad Ahmadi, Dylan Menzies, Ismail Shahin

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This paper describes a new efficient blind source separation method; in this method we use a non-uniform filter bank and a new structure with different sub-bands. This method provides a reduced permutation and increased convergence speed comparing to the full-band algorithm. Recently, some structures have been suggested to deal with two problems: reducing permutation and increasing the speed of convergence of the adaptive algorithm for correlated input signals. The permutation problem is avoided with the use of adaptive filters of orders less than the full-band adaptive filter, which operate at a sampling rate lower than the sampling rate of the input signal. The decomposed signals by analysis bank filter are less correlated in each sub-band than the input signal at full-band, and can promote better rates of convergence.

Keywords: Blind source separation, estimates, full-band, mixtures, sub-band

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Authors: Nguyen Ngoc Que Tran

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Purpose: The purpose of this paper is to investigate the relationship between internal market orientation, external market orientation, employee commitment and job satisfaction. Design/methodology/approach: This study collected data through a survey and utilized simple linear regression and multiple regression analysis to determine if there was any support for the research hypotheses as presented in the previous chapter. Findings: Using data from 256 employees of four leading joint stock banks in Vietnam, the empirical results indicates that employee commitment is positively related with external market orientation, job satisfaction is positively related to employee commitment, and employee commitment and job satisfaction are positively related to external market orientation. However, job satisfaction has no significant positive effect on external market orientation. Theoretical contribution: The primary contribution to marketing theory arising from this study is the integration of job satisfaction, employee commitment, and external market orientation in a single research model. Practical implications: The major contribution to practice is an external market oriented bank has to respond rapidly to the future needs and preferences of its customers. This could result in high levels of commitment to the service process and in doing so provide Vietnamese joint-stock commercial banks with a competitive advantage. The finding is important for the banking service sector in general and the Vietnamese banking industry in particular.

Keywords: employee commitment, job satisfaction and external market orientation, vietnam, bank

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Authors: Yosra Mefteh Rekik, Younes Boujelbene

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We introduce in this paper a new conceptual model representing the stock market dynamics. This model is essentially based on cognitive behavior of the intelligence investors. In order to validate our model, we build an artificial stock market simulation based on agent-oriented methodologies. The proposed simulator is composed of market supervisor agent essentially responsible for executing transactions via an order book and various kinds of investor agents depending to their profile. The purpose of this simulation is to understand the influence of psychological character of an investor and its neighborhood on its decision-making and their impact on the market in terms of price fluctuations. Therefore, the difficulty of the prediction is due to several features: the complexity, the non-linearity and the dynamism of the financial market system, as well as the investor psychology. The Artificial Neural Networks learning mechanism take on the role of traders, who from their futures return expectations and place orders based on their expectations. The results of intensive analysis indicate that the existence of agents having heterogeneous beliefs and preferences has provided a better understanding of price dynamics in the financial market.

Keywords: artificial intelligence methods, artificial stock market, behavioral modeling, multi-agent based simulation

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Authors: Hussein M. Maghrabie, M. Attalla, Hany. A. Mohamed, M. Salem, E. Specht

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An experimental investigation is carried out on counter-flow Ranque–Hilsch vortex tube (RHVT). The present work is carried out to study the effect of nozzle aspect ratio, tube length and the inlet pressure (P_i) on the coefficient of performance and energy separation of a RHVT. Further, the effect of moist air with different relative humidity (RH) 40, 60, 80 % is also achieved. The air relative humidity is adjusted using air humidification/dehumidification unit. The experimental study accomplished for number of nozzle N=6, with inner diameter D=7.5 mm., and length of the vortex tube (L) 75, 97.5, and 112.5 mm. The results show that the relative humidity has a significant effect on coefficient of performance and energy separation of a RHVT.

Keywords: COP, counter-flow Ranque–Hilsch vortex tube, energy separation, humid air

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Authors: Amneh Alkurdi, Yasean Tahat, Hamzeh Almuali

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Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets.

Keywords: corporate governance, dividends payouts policy, jordan, accounting

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Authors: Marinos Dimitropoulos, George Trakakis, Nikolaus Meyerbröker, Raphael Dalpke, Polina Angelova, Albert Schnieders, Christos Pavlou, Christos Kostaras, Costas Galiotis, Konstantinos Dassios

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Intended for purifying water, water separation technologies are widely employed in a variety of contemporary household and industrial applications. Ultrathin Carbon Nanomembranes (CNMs) offer a highly selective, fast-flow, energy-efficient water separation technology intended for demanding water treatment applications as a technological replacement for biological filtration membranes. The membranes are two-dimensional (2D) materials with sub-nm functional pores and a thickness of roughly 1 nm; they may be generated in large quantities on porous supporting substrates and have customizable properties. The purpose of this work was to investigate and analyze the mechanical characteristics of CNMs and their substrates in order to ensure the structural stability of the membrane during operation. Contrary to macro-materials, it is difficult to measure the mechanical properties of membranes that are only a few nanometers thick. The membranes were supported on atomically flat substrates as well as suspended over patterned substrates, and their inherent mechanical properties were tested with atomic force microscopy. Quantitative experiments under nanomechanical loading, nanoindentation, and nano fatigue demonstrated the membranes' potential for usage in water separation applications.

Keywords: carbon nanomembranes, mechanical properties, AFM

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Authors: Nishit L. Sanil, Raza M. Khan

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Increasing lift effectively at higher angles of attack has always been a daunting challenge in aviation especially on a delta wing. These are used on military jet fighter planes and has some undesirable characteristics, notably flow separation at high angles of attack and high drag at low speeds. In order to solve this problem, a design modification is modeled on a delta wing which would increase the lift so that we can improve maneuverability. To attain an increase in the lift of a 65 degree delta wing at higher angles of attack, a step-wise discontinuity is created at the upper surface of the delta wing. A normal delta wing is validated for comparison which would thereby give us a measure of flow separation and coefficient of lift affected by the modification. The results obtained deliver a significant increase in lift at higher angles of attack thereby delaying stall. Hence the benefits of the modification would aid the potential designs of aircraft’s in the time to come.

Keywords: coefficient of lift, delta wing, flow separation, step-wise discontinuity

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Authors: Boyu Li

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Mixed matrix membranes (MMMs), as a separation technology, can improve CO₂ recycling efficiency and reduce the environmental impacts associated with huge emissions. Nevertheless, many challenges must be overcome to design excellent selectivity and permeability performance MMMs. Herein, this work demonstrates the design of nano-scale GNPs (Cu-BDC@PEG) with strong compatibility and high free friction volume (FFV) is an effective way to construct non-interfacial voids MMMs with a desirable combination of selectivity and permeability. Notably, the FFV boosted thanks to the chain length and shape of the GNPs. With this, the permeability and selectivity of Cu-BDC@PEG/PVDF MMMs had also been significantly improved. As such, compatible Cu-BDC@PEG proves very efficient for resolving challenges of MMMs with poor compatibility on the basis of the interfacial defect. Poly (Ethylene Glycol) (PEG) with oxygen groups can be finely coordinated with Cu-MOFs to disperse Cu-BDC@PEG homogenously and form hydrogen bonds with matrix to achieve continuous phase. The resultant MMMs exhibited a simultaneous enhancement of gas permeability (853.1 Barrer) and ideal CO₂/N selectivity (41.7), which has surpassed Robenson's upper bound. Moreover, Cu-BDC@PEG/PVDF has a high-temperature resistance and a long time sustainably. This attractive separation performance of Cu-BDC@PEG/PVDF offered an exciting platform for the development of composite membranes for sustainable CO₂ separations.

Keywords: metal organic framework, CO₂ separation, mixed matrix membrane, polymer

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Authors: Y. H. Hwang, J. Won, Y. S. Kang

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Supported ionic liquid membranes (SILMs) have attracted due to the negligible vapor pressure of ionic liquids (ILs) as well as the high gas selectivity for specific gases such as CO2 or olefin. 1-ethyl-3-methylimidazolium tricyanomethanide ([EMIM][TCM]), 1-butyl-3-methylimidazolium tricyanomethanide ([BMIM][TCM]), show high CO2 solubility, CO2 absorption, rapid CO2 absorption rate and negligible vapor pressure, SILMs using these ILs have been good candidates as CO2 separation membranes. However, SILM has to be operated at a low differential pressure to prevent the solvent from being expelled from the pores of supported membranes. In this paper, we improve the mechanical strength by forming ion gels which provide the stability while it retains the diffusion properties of the liquid stage which affects the gas separation properties. The ion gel was created by the addition of tri-block copolymer, poly(styrene-ethylene oxide-b-styrene) in RTIL. SILM using five different RTILs, are investigated with and without ion gels. The gas permeance were measured and the gas performance with and without the SEOS were investigated.

Keywords: ion gel, ionic liquid, membrane, nanostructure

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Authors: Belayneh Yohannes

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In Ethiopia, onion production is increasing from time to time mainly due to its high profitability per unit area. Onion has a significant contribution to generating cash income for farmers in the Raya Azebo district. Therefore, enhancing onion producers’ access to the market and improving market linkage is an essential issue. Hence, this study aimed to analyze structure-conduct-performance of onion market and identifying factors affecting the market supply of onion producers. Data were collected from both primary and secondary sources. Primary data were collected from 150 farm households and 20 traders. Four onion marketing channels were identified in the study area. The highest total gross margin is 27.6 in channel IV. The highest gross marketing margin of producers of the onion market is 88% in channel II. The result from the analysis of market concentration indicated that the onion market is characterized by a strong oligopolistic market structure, with the buyers’ concentration ratio of 88.7 in Maichew town and 82.7 in Mekelle town. Lack of capital, licensing problems, and seasonal supply was identified as the major entry barrier to onion marketing. Market conduct shows that the price of onion is set by traders while producers are price takers. Multiple linear regression model results indicated that family size in adult equivalent, irrigated land size, access to information, frequency of extension contact, and ownership of transport significantly determined the quantity of onion supplied to the market. It is recommended that strengthening and diversifying extension services in information, marketing, post-harvest handling, irrigation application, and water harvest technology is highly important.

Keywords: oligopoly, onion, market chain, multiple linear regression

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Authors: Juan A. G. Carrio, Prasad Talluri, Sergio G. Echeverrigaray, Antonio H. Castro Neto

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Hydrogen as a fuel and environmentally pleasant energy carrier is part of this transition towards low-carbon systems. The extensive deployment of hydrogen production, purification and transport infrastructures still represents significant challenges. Independent of the production process, the hydrogen generally is mixed with light hydrocarbons and other undesirable gases that need to be removed to obtain H₂ with the required purity for end applications. In this context, membranes are one of the simplest, most attractive, sustainable, and performant technologies enabling hydrogen separation and purification. They demonstrate high separation efficiencies and low energy consumption levels in operation, which is a significant leap compared to current energy-intensive options technologies. The unique characteristics of 2D laminates have given rise to a diversity of research on their potential applications in separation systems. Specifically, it is already known in the scientific literature that graphene oxide-based membranes present the highest reported selectivity of H₂ over other gases. This work explores the potential of a new type of 2D materials-based membranes in separating H₂ from CO₂ and CH₄. We have developed nanostructured composites based on 2D materials that have been applied in the fabrication of membranes to maximise H₂ selectivity and permeability, for different gas mixtures, by adjusting the membranes' characteristics. Our proprietary technology does not depend on specific porous substrates, which allows its integration in diverse separation modules with different geometries and configurations, looking to address the technical performance required for industrial applications and economic viability. The tuning and precise control of the processing parameters allowed us to control the thicknesses of the membranes below 100 nanometres to provide high permeabilities. Our results for the selectivity of new nanostructured 2D materials-based membranes are in the range of the performance reported in the available literature around 2D materials (such as graphene oxide) applied to hydrogen purification, which validates their use as one of the most promising next-generation hydrogen separation and purification solutions.

Keywords: membranes, 2D materials, hydrogen purification, nanocomposites

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Authors: Can Hu, Huixia Shi, Hongcheng Mei, Jun Zhu, Hongling Guo

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Textile fibers are important trace evidence and frequently encountered in criminal investigations. A significant aspect of fiber evidence examination is the determination of fiber dyes. Although several instrumental methods have been developed for dyes detection, the analysis speed is not fast enough yet. A rapid dye analysis method is still needed to further improve the efficiency of case handling. Capillary electrophoresis has the advantages of high separation speed and high separation efficiency and is an ideal method for the rapid analysis of fiber dyes. In this paper, acid dyes used for protein fiber dyeing were determined by a developed short-end injection capillary electrophoresis technique. Five acid red dyes with similar structures were successfully baseline separated within 5 min. The separation reproducibility is fairly good for the relative standard deviation of retention time is 0.51%. The established method is rapid and accurate which has great potential to be applied in forensic setting.

Keywords: acid dyes, capillary electrophoresis, fiber evidence, rapid determination

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Authors: Hananto Prakoso, Jean-Pierre Orfeuil

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The relationship between city size, urban transport efficiency (speed), employment proximity (distance) and accessibility of labour market is rarely examined especially in developing countries. This paper reveals the relationship using 2 points of views (active population and company). Then the analysis is divided according to 3 transport modes (car, public transport and motorcycle) and takes into account the vehicle ownership rate. We employ data across 111 districts in 4 big cities of Indonesia. In our result, speed indicator contributed positively to accessibility of labour market while distance elasticity is negative. In absolute value, elasticity of speed indicator is higher than that of distance.

Keywords: labour market, travel time, travel cost threshold, transportation

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Authors: Zhaoyang Liu

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Oil pollution is typically caused by oil and gas-related operations such as vessel accidents, which can pollute waterways as well as the environment and damage the ecosystem. Tanker ship cleaning contributes to oil spills, which have a negative impact on coastal countries due to protracted service disruption. It is critical for coastal countries to develop efficient oil taint cleanup technology. There are various oil/water separation technologies, such as gravity separation, hydrocyclone, air flotation, and membrane filtration, among others. Among these, membrane filtration has been shown to produce high-quality effluent. Commercial membranes, on the other hand, nevertheless face significant practical challenges, such as a high susceptibility for membrane fouling when dealing with greasy effluent. We developed a unique anti-fouling filtering membrane for oil/water separation in this work. The membrane was made of inorganic nanofibers, which possesses the advantages of low membrane fouling, high permeation flux and long-term durability. This results from this study could facilitate to pave a new way for membranes filtration’s practical applications in oil/gas industry.

Keywords: oil, contaminate, wastewater, removal

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Authors: Gerald Abdesaken, Thomas O. Miller

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This paper analyzes the performance of gold as a safe-haven investment. Assuming high market volatility as an impetus to seek a safe haven in gold, the return of gold relative to the stock market, as measured by the S&P 500, is tracked. Using the Chicago Board Options Exchange (CBOE) volatility index (VIX) as a measure of stock market volatility, various criteria are established for when an investor would seek a safe haven to avoid high levels of risk. The results show that in a vast majority of cases, the S&P 500 outperforms gold during these periods of high volatility and suggests investors who seek safe haven are underperforming the market.

Keywords: gold, portfolio management, safe haven, VIX

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Authors: F. Kashanian, M. M. Masoudi, A. Akbari, A. Shamloo, M. R. Zand, S. S. Salehi

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Nano-sized materials present new opportunities in biology and medicine and they are used as biomedical tools for investigation, separation of molecules and cells. To achieve more effective cancer therapy, it is essential to select cancer cells exactly. This research suggests that using the antibody-functionalized nontoxic Arginine-doped magnetic nanoparticles (A-MNPs), has been prosperous in detection, capture, and magnetic separation of circulating tumor cells (CTCs) in tumor tissue. In this study, A-MNPs were synthesized via a simple precipitation reaction and directly immobilized Ep-CAM EBA-1 antibodies over superparamagnetic A-MNPs for Mucin BCA-225 in breast cancer cell. The samples were characterized by vibrating sample magnetometer (VSM), FT-IR spectroscopy, Tunneling Electron Microscopy (TEM) and Scanning Electron Microscopy (SEM). These antibody-functionalized nontoxic A-MNPs were used to capture breast cancer cell. Through employing a strong permanent magnet, the magnetic separation was achieved within a few seconds. Antibody-Conjugated nontoxic Arginine-doped Fe₃O₄ nanoparticles have the potential for the future study to capture CTCs which are released from tumor tissue and for drug delivery, and these results demonstrate that the antibody-conjugated A-MNPs can be used in magnetic hyperthermia techniques for cancer treatment.

Keywords: tumor tissue, antibody, magnetic nanoparticle, CTCs capturing

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Authors: Istijabatul Aliyah, Bambang Setioko, Rara Sugiarti

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Surakarta is one of the cities which are formed with the concept of Javanese cosmology. As a traditional town of Java, Surakarta is known as ‘the paradise’ of traditional markets. Since its establishment, Surakarta is formed with Catur Gatra Tunggal or Four Single-Slot concept (palace, square, mosques, and markets). Current development in Surakarta downtown today indicates that traditional markets have improved themselves in both physical and non-physical aspects. The efforts start from the market façade revitalization, restoration and the overall development of market; up to social activities, competition between traders or large celebrations in the neighbourhood market. This research was conducted in Surakarta, which is aimed at: identifying the role of traditional market revitalization efforts in the development of a city. This study employs several methods of analysis, namely: 1) Spatial analysis for mapping the distribution of traditional markets in the city constellation, 2) Category-Based Analysis (CBA) to classify the revitalization of traditional markets that has an influence in the development of the city, and 3) Interactive Method of Analysis. The results of this research indicate that the presence of a constellation of traditional markets in Surakarta is dominated by the presence of Gede Market, not only as the oldest traditional market, but also as a center of economic and socio-cultural activities of the community. The role of traditional market revitalization in the development of a town is as an Urban Catalyst towards a MICE city in the sense that the revitalization effort, even done in a relatively short time and not yet covering the overall objects, is able to establish brand image of Surakarta as a city of culture which is friendly and ready to be MICE tourism city.

Keywords: traditional market revitalization, urban catalyst, MICE tourism, Surakarta

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Authors: Zhang Haiyan, Su Zujun, Zhao Fengqi

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Lepidolite after extraction of Lithium by sulfate produced many jarosite slag which contains a lot of Rb and Cs.The separation and recovery of Rubidium(Rb) and Cesium(Cs) can make full of use of Lithium mica. XRF analysis showed that the slag mainly including K Rb Cs Al and etc. Fractional solvent extraction tests were carried out; the results show that using20% t-BAMBP plus 80% sulfonated kerosene, the separation of Rb and Cs can be achieved by adjusting the alkalinity. Extraction is the order of Cs Rb, ratio of Cs to Rb and ratio of Rb to K can reach above 1500 and 2500 respectively.

Keywords: cesium, jarosite slag, rubidium, solvent extraction, t-BAMBP

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Authors: Mohammad Hossein Ranjbar, Mahdi Bagheri, B. Shivaraj

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This study attempts to investigate the relationship between stock market of Iran and GCC countries stock exchanges. Eight markets were included: the stock market of Iran, Kuwait, Bahrain, Qatar, Saudi Arabia, Dubai, Abu Dhabi and Oman. Daily country market indices were collected from January 2005 to December 2010. The potential time-varying behaviors of long-run stock market relationship among selected markets are tested applying correlation test, Augmented Dick Fuller test (ADF), Bilateral and Multilateral Cointegration (Johansen), and the Granger Causality test. The findings suggest that stock market of Iran is negatively correlated with most of the selected markets in the whole duration. But contemporaneous correlations among the eight selected markets are increased positively in period of financial crises. Bilateral Cointegration between selected markets suggests that there is no integration between Tehran stock exchange and other selected markets. Among other markets, except the stock market of Dubai and Abu Dhabi as a one pair, are not cointegrated in whole, but in duration of financial crises integration between selected markets are increased. Finally, investigation of the casual relationship among eight financial markets suggests there are unidirectional and bidirectional causal relationship among some of stock market indices.

Keywords: financial crises, Middle East, stock market integration, Granger Causality test, ARDL test

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Authors: Mekonen G., Sileshi M., Melkamu M.

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Recharge estimation is important for the assessment and management of groundwater resources effectively. This study applied the soil moisture balance and Baseflow separation methods to estimate groundwater recharge in the Fetam Catchment. It is one of the major catchments understudied from the different catchments in the upper Blue Nile River basin. Surface water has been subjected to high seasonal variation; due to this, groundwater is a primary option for drinking water supply to the community. This research has been conducted to estimate groundwater recharge by using fifteen years of River flow data for the Baseflow separation and ten years of daily meteorological data for the daily soil moisture balance recharge estimating method. The recharge rate by the two methods is 170.5 and 244.9mm/year daily soil moisture and baseflow separation method, respectively, and the average recharge is 207.7mm/year. The average value of annual recharge in the catchment is almost equal to the average recharge in the country, which is 200mm/year. So, each method has its own limitations, and taking the average value is preferable rather than taking a single value. Baseflow provides overestimated result compared to the average of the two, and soil moisture balance is the list estimator. The recharge estimation in the area also should be done by other recharge estimation methods.

Keywords: groundwater, recharge, baseflow separation, soil moisture balance, Fetam catchment

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Authors: Mei-Jie Xu, Yang Zhong

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Based on the symplectic geometry method, the theory of Hamilton system can be applied in the analysis of problem solved using the theory of elasticity and in the solution of elliptic partial differential equations. With this technique, this paper derives the theoretical solution for a thick rectangular plate with four free edges supported on a Winkler foundation by variable separation method. In this method, the governing equation of thick plate was first transformed into state equations in the Hamilton space. The theoretical solution of this problem was next obtained by applying the method of variable separation based on the Hamilton system. Compared with traditional theoretical solutions for rectangular plates, this method has the advantage of not having to assume the form of deflection functions in the solution process. Numerical examples are presented to verify the validity of the proposed solution method.

Keywords: symplectic geometry method, Winkler foundation, thick rectangular plate, variable separation method, Hamilton system

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Authors: Belhouchet Selma, Ben Amar Anis

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We examine the impact of COVID-19 transmission, containment measures, and vaccination growth on daily stock market returns for the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) from January 22, 2020, to August 31, 2021, more than a year and a half after COVID-19. For this objective, we use panel pooled ordinary least squares regressions. Our findings indicate that the spread of the pandemic has a negative impact on the daily performance of the world's seven main stock markets. Government measures to improve stock market returns are no longer successful. Furthermore, our findings demonstrate that immunization efforts in G7 nations do not increase stock market performance in these countries. A variety of robustness tests back up our conclusions. Our findings have far-reaching implications for investors, governments, and regulators not only in the G7 countries but also in all developed countries and all countries globally.

Keywords: COVID-19, G7 stock market, containment measures, vaccination

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Authors: Javier Perez-Vaquero, Katryn Junker, Volker Lammers, Petra Foerst

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There is increasing importance to accelerate the transition to sustainable food systems by including environmentally friendly technologies. Our work focuses on protein enrichment and fractionation of agricultural side streams by dry triboelectrostatic separation technology. Materials are fed in particulate form into a system dispersed in a highly turbulent gas stream, whereby the high collision rate of particles against surfaces and other particles greatly enhances the electrostatic charge build-up over the particle surface. A subsequent step takes the charged particles to a delimited zone in the system where there is a highly uniform, intense electric field applied. Because the charge polarity acquired by a particle is influenced by its chemical composition, morphology, and structure, the protein-rich and fiber-rich particles of the starting material get opposite charge polarities, thus following different paths as they move through the region where the electric field is present. The output is two material fractions, which differ in their respective protein content. One is a fiber-rich, low-protein fraction, while the other is a high-protein, low-fiber composition. Prior to testing, materials undergo a milling process, and some samples are stored under controlled humidity conditions. In this way, the influence of both particle size and humidity content was established. We used two oilseed meals: lupine and rapeseed. In addition to a lab-scale separator to perform the experiments, the triboelectric separation process could be successfully scaled up to a mid-scale belt separator, increasing the mass feed from g/sec to kg/hour. The triboelectrostatic separation technology opens a huge potential for the exploitation of so far underutilized alternative protein sources. Agricultural side-streams from cereal and oil production, which are generated in high volumes by the industries, can further be valorized by this process.

Keywords: bench-scale processing, dry separation, protein-enrichment, triboelectrostatic separation

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