Search results for: refined higher order zigzag theory

Authors: Vilem Paril, Dominika Tothova

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This paper discusses the value theory in cultural heritage and the value theory in environmental economics. Two economic views of the value theory are compared within the field of cultural heritage maintenance and within the field of the environment. The main aims are to find common features in these two differently structured theories under the layer of differently defined terms as well as really differing features of these two approaches, to clear the confusion which stems from different terminology as in fact these terms capture the same aspects of reality and to show possible inspiration these two perspectives can offer one another. Another aim is to present these two value systems in one value framework. First, important moments of the value theory from the economic perspective are presented, leading to the marginal revolution of (not only) the Austrian School. Then the theory of value within cultural heritage and environmental economics are explored. Finally, individual approaches are compared and their potential mutual inspiration searched for.

Keywords: cultural heritage, environmental economics, existence value, value theory

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Authors: Stephanie Gracelyn Rahaman, Chew Yin Teng, Manjit Singh Sandhu

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Corporate scandals have made stakeholders apprehensive of large companies and expect greater transparency in CSR matters. However, companies find it challenging to strategically communicate CSR to intended stakeholders and in the process may fall short on maximizing on CSR efforts. Given that stakeholders have the ability to either reward good companies or take legal action or boycott against corporate brands who do not act socially responsible, companies must create shared understanding of their CSR activities. As a result, communication has become a strategy for many companies to demonstrate CSR engagement and to minimize stakeholder skepticism. The main objective of this research is to examine the types of CSR communication strategies and predictors that guide CSR communication strategies. Employing Morsing & Schultz’s guide on CSR communication strategies, the study integrates stakeholder and institutional theory to develop a conceptual framework. The conceptual framework hypothesized that stakeholder (instrumental and normative) and institutional (regulatory environment, nature of business, mimetic intention, CSR focus and corporate objectives) dimensions would drive CSR communication strategies. Preliminary findings from semi-structured interviews in Malaysia are consistent with the conceptual model in that stakeholder and institutional expectations guide CSR communication strategies. Findings show that most companies use two-way communication strategies. Companies that identified employees, the public or customers as key stakeholders have started to embrace social media to be in-sync with new trends of communication. This is especially with the Gen Y which is their priority. Some companies creatively use multiple communication channels because they recognize different stakeholders favor different communication channels. Therefore, it appears that companies use two-way communication strategies to complement the perceived limitation of one-way communication strategies as some companies prefer a more interactive platform to strategically engage stakeholders in CSR communication. In addition to stakeholders, institutional expectations also play a vital role in influencing CSR communication. Due to industry peer pressures, corporate objectives (attract international investors and customers), companies may be more driven to excel in social performance. For these reasons companies tend to go beyond the basic mandatory requirement, excel in CSR activities and be known as companies that champion CSR. In conclusion, companies use more two-way than one-way communication and companies use a combination of one and two-way communication to target different stakeholders resulting from stakeholder and institutional dimensions. Finally, in order to find out if the conceptual framework actually fits the Malaysian context, companies’ responses for expected organizational outcomes from communicating CSR were gathered from the interview transcripts. Thereafter, findings are presented to show some of the key organizational outcomes (visibility and brand recognition, portray responsible image, attract prospective employees, positive word-of-mouth, etc.) that companies in Malaysia expect from CSR communication. Based on these findings the conceptual framework has been refined to show the new identified organizational outcomes.

Keywords: CSR communication, CSR communication strategies, stakeholder theory, institutional theory, conceptual framework, Malaysia

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Authors: Iryna Shevchenko

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The science of mathematics was originated at the order of count of objects and subsequently for the measurement of size and quality of objects using the logical or abstract means. The laws of mathematics are based on the study of absolute values. The number 0 or "nothing" is the purely logical (as the opposite to absolute) value as the "nothing" should always assume the space for the something that had existed there; otherwise the "something" would never come to existence. In this work we are going to prove that the number "0" is the abstract (logical) and not an absolute number and it has the absolute value of “∞” (infinity). Therefore, the number "0" might not stand in the row of numbers that symbolically represents the absolute values, as it would be the mathematically incorrect. The symbolical value of number "0" in the row of numbers could be represented with symbol "∞" (infinity). As a result, we have the mathematical row of numbers: epsilon, ...4, 3, 2, 1, ∞. As the conclusions of the theory of number “0” we presented the statements: multiplication and division by fractions of numbers is illegal operation and the mathematical division by number “0” is allowed.

Keywords: illegal operation of division and multiplication by fractions of number, infinity, mathematical row of numbers, theory of number “0”

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Authors: Raja Rodziah Binti Raja Zainal Hassan

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The development of Malaysian political cinema is rapidly taking shape in the local film industry. The paper focuses on the production of independent political documentary by two Malaysian filmmakers, Amir Muhammad and Fahmi Reza. Revolutionary cinema can be understood by utilizing the Third Cinema Theory in order to analyse the meaning and its impact on the audience. The issue surrounding the political cinema in Malaysia is the question of national identity. The implementation of racial or ethnic based politics has resulted in hostility within Malaysia’s multiracial society. Amir Muhammad and Fahmi Reza revisit the Malaysian political history through their films in order to understand the reasons behind the hostility and conflict.

Keywords: Political cinema, third cinema theory, revolutionary cinema, national identity, racial or ethnic politics

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Authors: Zhenming Wang, Jun Zhu, Yuchen Yang, Ning Zhao

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In the present paper, an alternative framework is proposed to construct a class of finite difference multi-resolution nested weighted essentially non-oscillatory (WENO) schemes with an increasingly higher order of accuracy for solving inviscid Euler equations. These WENO schemes firstly obtain a set of reconstruction polynomials by a hierarchy of nested central spatial stencils, and then recursively achieve a higher order approximation through the lower-order precision WENO schemes. The linear weights of such WENO schemes can be set as any positive numbers with a requirement that their sum equals one and they will not pollute the optimal order of accuracy in smooth regions and could simultaneously suppress spurious oscillations near discontinuities. Numerical results obtained indicate that these alternative finite-difference multi-resolution nested WENO schemes with different accuracies are very robust with low dissipation and use as few reconstruction stencils as possible while maintaining the same efficiency, achieving the high-resolution property without any equivalent multi-resolution representation. Besides, its finite volume form is easier to implement in unstructured grids.

Keywords: finite-difference, WENO schemes, high order, inviscid Euler equations, multi-resolution

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Authors: Qasim Idrees, Gao Liangtian, Liu Bo, Miao Yiran

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In order to improve the efficiency and accuracy of the pressure hull structure, optimization of underwater vehicle based on response surface methodology, a method for optimizing the design of pressure hull structure was studied. To determine the pressure shell of five dimensions as a design variable, the application of thin shell theory and the Chinese Classification Society (CCS) specification was carried on the preliminary design. In order to optimize variables of the feasible region, different methods were studied and implemented such as Opt LHD method (to determine the design test sample points in the feasible domain space), parametric ABAQUS solution for each sample point response, and the two-order polynomial response for the surface model of the limit load of structures. Based on the ultimate load of the structure and the quality of the shell, the two-generation genetic algorithm was used to solve the response surface, and the Pareto optimal solution set was obtained. The final optimization result was 41.68% higher than that of the initial design, and the shell quality was reduced by about 27.26%. The parametric method can ensure the accuracy of the test and improve the efficiency of optimization.

Keywords: parameterization, response surface, structure optimization, pressure hull

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Authors: Warakorn Supwirapakorn

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The purpose of this research was to study the effects of choice theory in group counseling on coping strategies of students. The sample consisted of 16 students at a boarding school, who had the lowest score on the coping strategies. The sample was divided into two groups by random assignment and then were assigned into the experimental group and the control group, with eight members each. The instruments were the Adolescent Coping Scale and choice theory group counseling program. The data collection procedure was divided into three phases: The pre-test, the post-test, and the follow-up. The data were analyzed by repeated measure analysis of variance: One between-subjects and one within-subjects. The results revealed that the interaction between the methods and the duration of the experiment was found statistically significant at 0.05 level. The students in the experimental group demonstrated significantly higher at 0.05 level on coping strategies score in both the post-test and the follow-up than in the pre-test and the control group. No significant difference was found on coping strategies during the post-test phase and the follow-up phase of the experimental group.

Keywords: coping strategies, choice theory, group counseling, boarding school

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Authors: Prasanna Belur, P. R. Ashwini, Sampath Charanyaa, I. Regupathi

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Indian oil sardine (Sardinella longiceps) are one of the richest and cheapest sources of n-3 polyunsaturated fatty acids (n-3 PUFA) such as Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA). The health benefits conferred by n-3 PUFA upon consumption, in the prevention and treatment of coronary, neuromuscular, immunological disorders and allergic conditions are well documented. Natural refined Indian Sardine oil generally contain about 25% (w/w) n-3 PUFA along with various unsaturated and saturated fatty acids in the form of mono, di, and triglycerides. Having high concentration of n-3 PUFA content in the glyceride form is most desirable for human consumption to avail maximum health benefits. Thus, enhancing the n-3 PUFA content while retaining it in the glyceride form with green technology is the need of the hour. In this study, refined Indian Sardine oil was subjected to selective hydrolysis by Candida antartica lipase to enhance n-3 PUFA content. The degree of hydrolysis and enhancement of n-3 PUFA content was estimated by determining acid value, Iodine value, EPA and DHA content (by Gas Chromatographic methods after derivitization) before and after hydrolysis. Various reaction parameters such as pH, temperature, enzyme load, lipid to aqueous phase volume ratio and incubation time were optimized by conducting trials with one parameter at a time approach. Incubating enzyme solution with refined sardine oil with a volume ratio of 1:1, at pH 7.0, for 60 minutes at 50 °C, with an enzyme load of 60 mg/ml was found to be optimum. After enzymatic treatment, the oil was subjected to refining to remove free fatty acids and moisture content using previously optimized refining technology. Enzymatic treatment at the optimal conditions resulted in 12.11 % enhancement in Degree of hydrolysis. Iodine number had increased by 9.7 % and n-3 PUFA content was enhanced by 112 % (w/w). Selective enhancement of n-3 PUFA glycerides, eliminating saturated and unsaturated fatty acids from the oil using enzyme is an interesting preposition as this technique is environment-friendly, cost effective and provide natural source of n-3 PUFA rich oil.

Keywords: Candida antartica, lipase, n-3 polyunsaturated fatty acids, sardine oil

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Authors: Oleksii Bychkov

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The fundamental difference between randomness and vagueness is that the former requires statistical research. These issues were studied by Zadeh L, Dubois D., Prad A. The theory of possibility works with expert assessments, hypotheses, etc. gives an idea of the characteristics of the problem situation, the nature of the goals and real limitations. Possibility theory examines experiments that are not repeated. The article discusses issues related to the formalization of a fuzzy, uncertain idea of reality. The author proposes to expand the classical model of the theory of possibilities by introducing a measure of necessity. The proposed model of the theory of possibilities allows us to extend the measures of possibility and necessity onto a Boolean while preserving the properties of the measure. Thus, upper and lower estimates are obtained to describe the fact that the event will occur. Knowledge of the patterns that govern mass random, uncertain, fuzzy events allows us to predict how these events will proceed. The article proposed for publication quite fully reveals the essence of the construction and use of the theory of probability and the theory of possibility.

Keywords: possibility, artificial, modeling, axiomatics, intellectual approach

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Authors: Gebreegziabher Hailu Gebrecherkos

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This study explores the derivatives of functions defined by I-functions of two variables and their connections to generalized M-series. We begin by defining I-functions, which are generalized functions that encompass various special functions, and analyze their properties. By employing advanced calculus techniques, we derive new formulas for the first and higher-order derivatives of I-functions with respect to their variables; we establish some derivative formulae of the I-function of two variables involving generalized M-series. The special cases of our derivatives yield interesting results.

Keywords: I-function, Mellin-Barners control integral, generalized M-series, higher order derivative

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Authors: Samar M. Alqhtani, Suhuai Luo, Brian Regan

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Data fusion technology can be the best way to extract useful information from multiple sources of data. It has been widely applied in various applications. This paper presents a data fusion approach in multimedia data for event detection in twitter by using Dempster-Shafer evidence theory. The methodology applies a mining algorithm to detect the event. There are two types of data in the fusion. The first is features extracted from text by using the bag-ofwords method which is calculated using the term frequency-inverse document frequency (TF-IDF). The second is the visual features extracted by applying scale-invariant feature transform (SIFT). The Dempster - Shafer theory of evidence is applied in order to fuse the information from these two sources. Our experiments have indicated that comparing to the approaches using individual data source, the proposed data fusion approach can increase the prediction accuracy for event detection. The experimental result showed that the proposed method achieved a high accuracy of 0.97, comparing with 0.93 with texts only, and 0.86 with images only.

Keywords: data fusion, Dempster-Shafer theory, data mining, event detection

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Authors: Mohd Rashid Bin Hj. Md Idris, Lajiman Bin Janoory, Abdullah Bin Yusof, Mahzir Bin Ibrahim

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The Malay language curriculum at primary school level in Malaysia is instrumental in ensuring the status of the language as the official and national language, the language of instruction as well as the language that unites the various ethnics in Malaysia. A research addressing issues related to the curriculum standard is, therefore, essential to provide value added quality to the existing National Education Philosophy in ongoing efforts to produce an individual who is balanced in intellectual, spiritual, emotional and physical developments. The objective of this study is to examine the Philosophy of Language Theory, to review the content of the Malay language subject in relation to the Standard Curriculum for Primary Schools (KSSR), and to identify aspects of Theory of Philosophy in the Standard Curriculum for Primary Schools. The Malay language Primary School Curriculum is designed to enable students to be competent speakers and communicators of the language in order to gain knowledge, skills, information, values, and ideas and to enhance skills in social relations. Therefore, this study is designed to help educators to achieve all the stated goals. At the same time students at primary school level are expected to be able to apply the principle of language perfection as stated in the Philosophy of Language Theory to enable them to understand, appreciate and to take pride in being a Malaysian who speaks the language well.

Keywords: language, philosophy, theory, curriculum, standard, national education philosophy

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Authors: Ali Nouri

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Neuroeducation is one of the most exciting research fields which is continually evolving. However, there is a need to develop its theoretical bases in connection to practice. The present paper is a starting attempt in this regard to provide a space from which to think about neuroeducational theory and invoke more investigation in this area. Accordingly, a comprehensive theory of neuroeducation could be defined as grouping or clustering of concepts and propositions that describe and explain the nature of human learning to provide valid interpretations and implications useful for educational practice in relation to philosophical aspects or values. Whereas it should be originated from the philosophical foundations of the field and explain its normative significance, it needs to be testable in terms of rigorous evidence to fundamentally advance contemporary educational policy and practice. There is thus pragmatically a need to include a course on neuroeducational theory into the curriculum of the field. In addition, there is a need to articulate and disseminate considerable discussion over the subject within professional journals and academic societies.

Keywords: neuroeducation studies, neuroeducational theory, theory building, neuroeducation research

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Authors: Mahdi Shamsi, Tohid Yousefi Rezaii, Siavash Eftekharifar

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Compressed sensing (CS) is a new powerful mathematical theory concentrating on sparse signals which is widely used in signal processing. The main idea is to sense sparse signals by far fewer measurements than the Nyquist sampling rate, but the reconstruction process becomes nonlinear and more complicated. Common dilemma in sparse signal recovery in CS is the lack of knowledge about sparsity order of the signal, which can be viewed as model order selection procedure. In this paper, we address the problem of sparsity order estimation in sparse signal recovery. This is of main interest in situations where the signal sparsity is unknown or the signal to be recovered is approximately sparse. It is shown that the proposed method also leads to some kind of signal denoising, where the observations are contaminated with noise. Finally, the performance of the proposed approach is evaluated in different scenarios and compared to an existing method, which shows the effectiveness of the proposed method in terms of order selection as well as denoising.

Keywords: compressed sensing, data denoising, model order selection, sparse representation

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Authors: Divine Kwaku Ahadzie

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Project management (PM) as a concept has evolved from the early 20th Century into a recognized academic and professional discipline, and indications are that it has come to stay in the 21st Century as a world-wide paradigm shift for managing successful construction projects. However, notwithstanding the strong inroads that PM has made in legitimizing its academic and professional status in construction management practice, the underlining philosophies are still based on cases and conventional practices. An important theoretical issue yet to be addressed is the lack of a universal theory that offers philosophical legitimacy for the PM concept as a uniquely specialized management concept. Here, it is hypothesized that the law of entropy, the theory of uncertainties and the theory of risk management offer plausible explanations for addressing the lacuna of what constitute PM theory. The theoretical bases of these plausible underlying theories are argued and attempts made to establish the functional relationships that exist between these theories and the PM concept. The paper then draws on data related to the success and/or failure of a number of construction projects to validate the theory.

Keywords: concepts, construction, project management, universal theory

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Authors: Xiaoxin Ye, Guoyi Tang

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The effect of electropulsing ultrasonic shock (EUS) on the surface hardening and microstructure of Ti6Al4V alloy was studied. It was found that electropulsing improved the microhardness dramatically both in the influential depth and maximum value, compared with the only ultrasonic-shocked sample. It’s indicated that refined surface layer with nanocrystalline and improved microhardness were obtained on account of surface severe plastic deformation, dynamic recrystallization (DRX) and phase change, which was implemented at relative low temperature and high strain rate/capacity due to the coupling of the thermal and athermal effects of EUS. It’s different from conventional experiments and theory. It’s discussed that the positive contributions of EPT in the thermodynamics and kinetics of microstructure and properties change were attributed to the reduction of nucleation energy barrier and acceleration of atomic diffusion. Therefore, it’s supposed that EUS is an energy-saving and high-efficiency method of surface treatment technique with the help of high-energy electropulses, which is promising in cost reduction of the surface engineering and energy management.

Keywords: titanium alloys, electropulsing, ultrasonic shock, microhardness, nanocrystalline

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Authors: Yen Chia-Ju, Cheng Ding-Ruei

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This study took case office building as subject and explored the responsive work order repair request of facilities and equipment in offices and public areas by gray theory, with the purpose of providing for future related office building owners, executive managers, property management companies, mechanical and electrical companies as reference for deciding and assessing forecast model. Important conclusions of this study are summarized as follows according to the study findings: 1. Grey Relational Analysis discusses the importance of facilities repair number of six categories, namely, power systems, building systems, water systems, air conditioning systems, fire systems and manpower dispatch in order. In terms of facilities maintenance importance are power systems, building systems, water systems, air conditioning systems, manpower dispatch and fire systems in order. 2. GM (1,N) and regression method took maintenance hours as dependent variables and repair number, leased area and tenants number as independent variables and conducted single month forecast based on 12 data from January to December 2011. The mean absolute error and average accuracy of GM (1,N) from verification results were 6.41% and 93.59%; the mean absolute error and average accuracy of regression model were 4.66% and 95.34%, indicating that they have highly accurate forecast capability.

Keywords: rey theory, forecast model, Taipei 101, office buildings, property management, facilities, equipment

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Authors: R. Manjula, Kaustav Bagchi, Sushant Ramesh, Anush Baskaran

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In the past century, the emergence of information technology has had a significant positive impact on human life. While companies tend to be more involved in the completion of projects, the turn of the century has seen importance being given to investment in information security policies. These policies are essential to protect important data from adversaries, and thus following these policies has become one of the most important attributes revolving around information security models. In this research, we have focussed on the factors affecting information security policy compliance in two models : The theory of planned behaviour and the integration of the social bond theory and the involvement theory into a single model. Finally, we have given a proposal of where these theories would be successful.

Keywords: information technology, information security, involvement theory, policies, social bond theory

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Authors: Aziza Altaibayeva, Ertan Güdekli, Ratbay Myrzakulov

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In this letter, we explore exact solutions for the Horava-Lifshitz gravity. We use of an extension of this theory with first order dynamical lapse function. The equations of motion have been derived in a fully consistent scenario. We assume that there are some spherically symmetric families of exact solutions of this extended theory of gravity. We obtain exact solutions and investigate the singularity structures of these solutions. Specially, an exact solution with the regular horizon is found.

Keywords: quantum gravity, Horava-Lifshitz gravity, black hole, spherically symmetric space times

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Authors: P. Pramod Kumar, Madhu Salumari, V. V. Subba Rao

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Due to their high strength-to-weight ratio, carbon nanotube (CNTs) reinforced polymer composites are being considered as one of the most promising nanocomposites which can improve the performance when used in structural applications. The buckling behavior is one of the most important parameter needs to be considered in the design of structural members like beams and plates. In the present paper, the elastic constants of CNT reinforced polymer composites are evaluated by using Mori-Tanaka micromechanics approach. Knowing the elastic constants, an analytical study is being conducted to investigate the buckling behavior of nanocomposites for different CNT volume fractions at different boundary conditions using first-order shear deformation theory (FSDT). The effect of stacking sequence and CNT radius on the buckling of beam has also been presented. This study is being conducted primarily with an intension to find the stiffening effect of CNTs when used in polymer composites as reinforcement.

Keywords: CNT, buckling, micromechanics, FSDT

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Authors: Djehich Mohamed Yousri

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This research deals with an important issue in Islamic political thought, which is the relationship of ethics to the Islamic political system. This is done by following the legal politics books and analyzing their texts in order to reach the moral values on which the political system in Islam is based, starting from the concept of politics to the political principles and conditions of the ruler and the reasons for his removal and the conditions of those authorized to choose him, and ending with the ruler’s relationship with his people, and the relationship of the Islamic state with other countries. The research concluded that moral values are the basis of the political system in Islam, and the reason for this is due to the fact that Islam is a religion and a global and realistic human system that embraces morals and higher values in order to preserve its lofty message and calls for brotherhood, love, and justice and does not harm human morals. And if the reality of politics in the Islamic world today is not related to the moral values and the lofty message of Islam, this research tries to show the origins of political theory in Islam, and the purpose of the Islamic political system, towards the morality of politics.

Keywords: moral, politics, islam, political system, islamic political system

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Authors: Min Wei

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The green hotel provides the products/services consistent with the full utilization of resources, protecting the ecological environment conducive to customers’ requirements and health. In order to better develop the green hospitality industry, this paper applies the game theory to analyze the intrinsic relationship and balanced interests among the stakeholders including government, hotels, and tourists during green hospitality development. Based on the hypothesis in game theory, this paper tries to construct a linkage mechanism in stakeholders, by which a theoretical basis for the interests’ balance can be realized. By using game theory and constructing a game model including tourists, hotels and government, this paper analyzes the relationship of the various stakeholders involved in the green hospitality development, and subsequently proposes the development model of green hospitality industry. On the one hand, this paper applies game theory to construct a green hotel development model and provides a theoretical basis for the interest balance of stakeholders based on theoretical perspective. On the other hand, the current development of green hospitality industry is still in initial phase, and the outcome of this research tries to guide tourists to form a green awareness and to establish the concept of green consumption for hotel development, so that green hotel products/services are provided. In addition, this paper provides a basis for decision making in the relevant government departments so that the interests of all stakeholders are promoted and cooperative game between stakeholders is established, for which the sustainable development of green hotels is achieved. The findings indicate that the process of achieving green hospitality industry development is to maximize the whole interests of stakeholders.

Keywords: green hospitality, game theory, stakeholders, development model

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Authors: Shabnam

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The purpose of this study was to see importance of successful intelligence in education which can enhance achievement. There are a number of researches which have tried to apply psychological theories of education and many researches emphasized the role of thinking and intelligence. While going through the various researches, it was found that many students could learn more effectively than they do, if they were taught in a way that better matched their patterns of abilities. Attempts to apply psychological theories to education can falter on the translation of the theory into educational practice. Often, this translation is not clear. Therefore, when a program does not succeed, it is not clear whether the lack of success was due to the inadequacy of the theory or the inadequacy of the implementation of the theory. A set of basic principles for translating a theory into practice can help clarify just what an educational implementation should (and should not) look like. Sternberg’s theory of successful intelligence; analytical, creative and practical intelligence provides a way to create such a match. The results suggest that theory of successful intelligence provides successful interventions in classrooms and provides a proven model for gifted education. This article presents principles for translating a triarchic theory of successful intelligence into educational practice.

Keywords: successful intelligence, analytical, creative and practical intelligence, achievement, success, resilience

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Authors: Mervet A. El-sherif, Ginat M El-sherif, Kadry H Tolba

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The objective of this study was to determine, identify and investigate the effects of natural antioxidants of licorice and carob. Besides, their effects as powder and antioxidant extracts addition on refined sunflower oil stability as natural antioxidants were evaluated. Total polyphenol contents as total phenols, total carotenoids and total tannins were 353.93mg/100g (gallic acid), 10.62mg/100g (carotenoids) and 83.33mg/100g (tannic acid), respectively in licorice, while in carob, it was 186.07, 18.66 and 106.67, respectively. Polyphenol compounds of the studied licorice and carob extracts were determined and identified by HPLC. The stability of refined sunflower oil (which determined by peroxide value and Rancimat) was increased with increasing the level of polyphenols extracts addition. Also, our study shows the effect of addition of these polyphenols extracts to El-mewled El-nabawy sweets fortified by full cream milk powder (sesames and folia). We found that, licorice and carob as powder and polyphenols extracts were delayed the rancidity of sesame and peanut significantly. That encourages using licorice and carob as powder and polyphenols extracts as a good natural antioxidants source instead of synthetic antioxidants.

Keywords: licorice, carob, natural antioxidants, antioxidant activity, applications

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Eliane Abdo, Olivier Colot

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SMEs are always considered as a national priority due to their contribution to job creation, innovation and growth. Once the start-up phase is crossed with encouraging results, the company enters the phase of growth. In order to improve its competitiveness, maintain and increase its market share, the company is in the necessity even the obligation to develop its tangible and intangible investments. SMEs are generally closed companies with special and critical financial situation, limited resources and difficulty to access the capital markets; their shareholders are always living in a conflict between their independence and their need to increase capital that leads to the entry of new shareholder. The capital structure was always considered the core of research in corporate finance; moreover, the financial crisis and its repercussions on the credit’s availability, especially for SMEs make SME financing a hot topic. On the other hand, financial theories do not provide answers to capital structure’s questions; they offer tools and mode of financing that are more accessible to larger companies. Yet, SME’s capital structure can’t be independent of their governance structure. The classic financial theory supposes independence between the investment decision and the financing decision. Thus, investment determines the volume of funding, but not the split between internal or external funds. In this context, we find interesting to study the hypothesis that SMEs respond positively to the financial theories applied to large firms and to check if they are constrained by conventional solutions used by large companies. In this context, this research focuses on the analysis of the resource’s structure of SME in parallel with their investments’ structure, in order to highlight a link between their assets and liabilities structure. We founded our conceptual model based on two main theoretical frameworks: the Pecking order theory, and the Trade Off theory taking into consideration the SME’s characteristics. Our data were generated from DIANE database. Five hypotheses were tested via a panel regression to understand the type of dependence between the financing methods of 3,244 French SMEs and the development of their investment over a period of 10 years (2007-2016). The results show dependence between equity and internal financing in case of intangible investments development. Moreover, this type of business is constraint to financial debts since the guarantees provided are not sufficient to meet the banks' requirements. However, for tangible investments development, SMEs count sequentially on internal financing, bank borrowing, and new shares issuance or hybrid financing. This is compliant to the Pecking Order Theory. We, therefore, conclude that unlisted SMEs incur more financial debts to finance their tangible investments more than their intangible. However, they always prefer internal financing as a first choice. This seems to be confirmed by the assumption that the profitability of the company is negatively related to the increase of the financial debt. Thus, the Pecking Order Theory predictions seem to be the most plausible. Consequently, SMEs primarily rely on self-financing and then go, into debt as a priority to finance their financial deficit.

Keywords: capital structure, investments, life cycle, pecking order theory, trade off theory

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Authors: M. R. Bekli, N. Mebarki, I. Chadou

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In this study, we focus on the structure functions and violation of scale invariance in the context of non-commutative standard model (NCSM). We find that this violation appears in the first order of perturbation theory and a non-commutative version of the DGLAP evolution equation is deduced. Numerical analysis and comparison with experimental data imposes a new bound on the non-commutative parameter.

Keywords: NCSM, structure function, DGLAP equation, standard model

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Authors: Morteza Rahiminejad

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There are over 1200 cities and municipalities all around Iran, including 30 mega cities, which municipal organizations, Interior ministries, and city councils supervise. Even so, there has been neither any research about the process of success nor performance assessment in municipalities. In this research an attempt is made to build a comprehensive theory (or model) to show the reasons or success process among the local governments. The present research is based on the contingency approach in which the relevant circumstances are important, and both environment and situations call for their own management methods. The methodology of research is grounded theory, which uses Atlas.ti software as a tool.

Keywords: success, municipality, Iran, theory building

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Authors: Olufunmilola A. Abiodun, Adegbola O. Dauda, Ayobami Ojo, Samson A. Oyeyinka

Abstract:

Serendipity berry (Dioscoreophyllum cumminsii diel) is a tropical dioecious rainforest vine and native to tropical Africa. The vine grows during the raining season and is used mainly as sweetener. The sweetener in the berry is known as monellin which is sweeter than sucrose. The sweetener is extracted from the fruits and the seed is discarded. The discarded seeds contain bitter principles but had high yield of oil. Serendipity oil was extracted using three methods (N-hexane, expression and expression/n-hexane). Fatty acids and physicochemical properties of the oil obtained were determined. The oil obtained was clear, liquid and have odour similar to hydrocarbon. The percentage oil yield was 38.59, 12.34 and 49.57% for hexane, expression and expression-hexane method respectively. The seed contained high percentage of oil especially using combination of expression and hexane. Low percentage of oil was obtained using expression method. The refractive index values obtained were 1.443, 1.442 and 1.478 for hexane, expression and expression-hexane methods respectively. Peroxide value obtained for expression-hexane was higher than those for hexane and expression. The viscosities of the oil were 125.8, 128.76 and 126.87 cm³/s for hexane, expression and expression-hexane methods respectively which showed that the oil from expression method was more viscous than the other oils. The major fatty acids in serendipity seed oil were oleic acid (62.81%), linoleic acid (22.65%), linolenic (6.11%), palmitic acid (5.67%), stearic acid (2.21%) in decreasing order. Oleic acid which is monounsaturated fatty acid had the highest value. Total unsaturated fatty acids were 91.574, 92.256 and 90.426% for hexane, expression, and expression-hexane respectively. Combination of expression and hexane for extraction of serendipity oil produced high yield of oil. The oil could be refined for food and non-food application.

Keywords: serendipity seed oil, expression method, fatty acid, hexane

Procedia PDF Downloads 273

Authors: Ratna Kuswardani

Abstract:

This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

Procedia PDF Downloads 151