Search results for: and coal mining industry
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6512

Search results for: and coal mining industry

4352 Safety Evaluation of Post-Consumer Recycled PET Materials in Chilean Industry by Overall Migration Tests

Authors: Evelyn Ilabaca, Ximena Valenzuela, Alejandra Torres, María José Galotto, Abel Guarda

Abstract:

One of the biggest problems in food packaging industry, especially with the plastic materials, is the fact that these materials are usually obtained from non-renewable resources and also remain as waste after its use, causing environmental issues. This is an international concern and particular attention is given to reduction, reuse and recycling strategies for decreasing the waste from plastic packaging industry. In general, polyethylenes represent most plastic waste and recycling process of post-consumer polyethylene terephthalate (PCR-PET) has been studied. US Food and Drug Administration (FDA), European Food Safety Authority (EFSA) and Southern Common Market (MERCOSUR) have generated different legislative documents to control the use of PCR-PET in the production of plastic packaging intended direct food contact in order to ensure the capacity of recycling process to remove possible contaminants that can migrate into food. Consequently, it is necessary to demonstrate by challenge test that the recycling process is able to remove specific contaminants, obtaining a safe recycled plastic to human health. These documents establish that the concentration limit for substitute contaminants in PET is 220 ppb (ug/kg) and the specific migration limit is 10 ppb (ug/kg) for each contaminant, in addition to assure the sensorial characteristics of food are not affected. Moreover, under the Commission Regulation (EU) N°10/2011 on plastic materials and articles intended to come into contact with food, it is established that overall migration limit is 10 mg of substances per 1 dm2 of surface area of the plastic material. Thus, the aim of this work is to determine the safety of PCR-PET-containing food packaging materials in Chile by measuring their overall migration, and their comparison with the established limits at international level. This information will serve as a basis to provide a regulation to control and regulate the use of recycled plastic materials in the manufacture of plastic packaging intended to be in direct contact with food. The methodology used involves a procedure according to EN-1186:2002 with some modifications. The food simulants used were ethanol 10 % (v/v) and acetic acid 3 % (v/v) as aqueous food simulants, and ethanol 95 % (v/v) and isooctane as substitutes of fatty food simulants. In this study, preliminary results showed that Chilean food packaging plastics with different PCR-PET percentages agree with the European Legislation for food aqueous character.

Keywords: contaminants, polyethylene terephthalate, plastic food packaging, recycling

Procedia PDF Downloads 276
4351 The Role of Building Information Modeling as a Design Teaching Method in Architecture, Engineering and Construction Schools in Brazil

Authors: Aline V. Arroteia, Gustavo G. Do Amaral, Simone Z. Kikuti, Norberto C. S. Moura, Silvio B. Melhado

Abstract:

Despite the significant advances made by the construction industry in recent years, the crystalized absence of integration between the design and construction phases is still an evident and costly problem in building construction. Globally, the construction industry has sought to adopt collaborative practices through new technologies to mitigate impacts of this fragmented process and to optimize its production. In this new technological business environment, professionals are required to develop new methodologies based on the notion of collaboration and integration of information throughout the building lifecycle. This scenario also represents the industry’s reality in developing nations, and the increasing need for overall efficiency has demanded new educational alternatives at the undergraduate and post-graduate levels. In countries like Brazil, it is the common understanding that Architecture, Engineering and Building Construction educational programs are being required to review the traditional design pedagogical processes to promote a comprehensive notion about integration and simultaneity between the phases of the project. In this context, the coherent inclusion of computation design to all segments of the educational programs of construction related professionals represents a significant research topic that, in fact, can affect the industry practice. Thus, the main objective of the present study was to comparatively measure the effectiveness of the Building Information Modeling courses offered by the University of Sao Paulo, the most important academic institution in Brazil, at the Schools of Architecture and Civil Engineering and the courses offered in well recognized BIM research institutions, such as the School of Design in the College of Architecture of the Georgia Institute of Technology, USA, to evaluate the dissemination of BIM knowledge amongst students in post graduate level. The qualitative research methodology was developed based on the analysis of the program and activities proposed by two BIM courses offered in each of the above-mentioned institutions, which were used as case studies. The data collection instruments were a student questionnaire, semi-structured interviews, participatory evaluation and pedagogical practices. The found results have detected a broad heterogeneity of the students regarding their professional experience, hours dedicated to training, and especially in relation to their general knowledge of BIM technology and its applications. The research observed that BIM is mostly understood as an operational tool and not as methodological project development approach, relevant to the whole building life cycle. The present research offers in its conclusion an assessment about the importance of the incorporation of BIM, with efficiency and in its totality, as a teaching method in undergraduate and graduate courses in the Brazilian architecture, engineering and building construction schools.

Keywords: building information modeling (BIM), BIM education, BIM process, design teaching

Procedia PDF Downloads 154
4350 Innovative Housing Construction Technologies in Slum Upgrading

Authors: Edmund M. Muthigani

Abstract:

Innovation in the construction industry has been characterized by new products and processes especially in slum upgrading. The need for low cost housing has motivated stakeholders to think outside the box in coming up with solutions. This paper explored innovative construction technologies that have been used in slum upgrading. The main objectives of the paper was to examine innovations in the construction housing sector and to show how incremental derived demand for decent housing has led to adoption of innovative technologies and materials. Systematic literature review was used to review studies on innovative construction technologies in slum upgrading. The review revealed slow process of innovations in the construction industry due to risk aversion by firms and the hesitance to adopt by firms and individuals. Low profit margins in low cost housing and lack of sufficient political support remain the major hurdles to innovative techniques adoption that can actualize right to decent housing. Conventional construction materials have remained unaffordable to many people and this has negated them decent housing. This has necessitated exploration of innovative materials to realize low cost housing. Stabilized soil blocks and sisal-cement roofing blocks are some of the innovative construction materials that have been utilized in slum upgrading. These innovative materials have not only lowered the cost of production of building elements but also eased costs of transport as the raw materials to produce them are readily available in or within the slum sites. Despite their shortcomings in durability and compressive strength, they have proved worthwhile in slum upgrading. Production of innovative construction materials and use of innovative techniques in slum upgrading also provided employment to the locals.

Keywords: construction, housing, innovation, slum, technology

Procedia PDF Downloads 207
4349 Assessing Lithium Recovery from Secondary Sources

Authors: Carolina A. Santos, Alexandra B. Ribeiro

Abstract:

Climate change and environmental degradation are threats to humanity. Europe has been addressing these problems, namely through the Green Deal, with the use of batteries in mobility and energy fields. However, these require the use of critical raw materials, like lithium, which demand is estimated to grow 60 times in the next 30 years. Thus, it is fundamental to promote a circular economy with lithium recovery from secondary resources. These are nowadays key topics, which will be even more relevant in the future, so a new way to approach them is needed and must be encouraged. Therefore, one of our main goals is to analyse two methods of lithium retrieval from secondary sources, bioleaching, and electrodialysis, and assess them regarding their sustainability. The latest results show good efficiency of removal with both methods, even though there are some matrix interferences. Hence, further investment and research are needed in order to make this process sustainable and our society more circular.

Keywords: lithium, sustainable mining, social license to operate, bioleaching, electrodialysis

Procedia PDF Downloads 130
4348 The Relationships between Energy Consumption, Carbon Dioxide (CO2) Emissions, and GDP for Turkey: Time Series Analysis, 1980-2010

Authors: Jinhoa Lee

Abstract:

The relationships between environmental quality, energy use and economic output have created growing attention over the past decades among researchers and policy makers. Focusing on the empirical aspects of the role of carbon dioxide (CO2) emissions and energy use in affecting the economic output, this paper is an effort to fulfill the gap in a comprehensive case study at a country level using modern econometric techniques. To achieve the goal, this country-specific study examines the short-run and long-run relationships among energy consumption (using disaggregated energy sources: crude oil, coal, natural gas, and electricity), CO2 emissions and gross domestic product (GDP) for Turkey using time series analysis from the year 1980-2010. To investigate the relationships between the variables, this paper employs the Augmented Dickey-Fuller (ADF) test for stationarity, Johansen’s maximum likelihood method for cointegration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. The long-run equilibrium in the VECM suggests no effects of the CO2 emissions and energy use on the GDP in Turkey. There exists a short-run bidirectional relationship between the electricity and natural gas consumption, and also there is a negative unidirectional causality running from the GDP to electricity use. Overall, the results partly support arguments that there are relationships between energy use and economic output; however, the effects may differ due to the source of energy such as in the case of Turkey for the period of 1980-2010. However, there is no significant relationship between the CO2 emissions and the GDP and between the CO2 emissions and the energy use both in the short term and long term.

Keywords: CO2 emissions, energy consumption, GDP, Turkey, time series analysis

Procedia PDF Downloads 504
4347 Skill-Based or Necessity-Driven Entrepreneurship in Animal Agriculture for Sustainable Job and Wealth Creations

Authors: I. S. R. Butswat, D. Zahraddeen

Abstract:

This study identified and described some skill-based and necessity-driven entrepreneurship in animal agriculture (AA). AA is an integral segment of the world food industry, and provides a good and rapid source of income. The contribution of AA to the Sub-Saharan economy is quite significant, and there are still large opportunities that remain untapped in the sector. However, it is imperative to understand, simplify and package the various components of AA in order to pave way for rapid wealth creation, poverty eradication and women empowerment programmes in sub-Saharan Africa and other developing countries. The entrepreneurial areas of AA highlighted were animal breeding, livestock fattening, dairy production, poultry farming, meat production (beef, mutton, chevon, etc.), rabbit farming, wool/leather production, animal traction, animal feed industry, commercial pasture management, fish farming, sport animals, micro livestock production, private ownership of abattoirs, slaughter slabs, animal parks and zoos, among others. This study concludes that reproductive biotechnology such as oestrous synchronization, super-/multiple ovulation, artificial insemination and embryo transfer can be employed as a tool for improvement of genetic make-up of low-yielding animals in terms of milk, meat, egg, wool, leather production and other economic traits that will necessitate sustainable job and wealth creations.

Keywords: animal, agriculture, entreprenurship, wealth

Procedia PDF Downloads 246
4346 Investigating the Use of Social Media Channels When Capitalising on Ireland’s Appearance in US TV and Movies: A Digital Marketing Campaign

Authors: Colm Barcoe, Garvan Whelan

Abstract:

The purpose of this paper is to investigate the impact that US TV and movies have had on Irish tourism. This study examines how a destination marketing organisation (DMO) can use social media channels to capitalise upon the opportunities created by film tourism as it pertains to North American TV and movie productions. The findings are based on a combination of two qualitative methods, in-depth interviews with 20 industry professionals and a Netnographic analysis of social media activity between Tourism Ireland and the North American audience on Facebook and Twitter. The qualitative data were analysed in order to provide insights into the effectiveness of using North American pop culture as part of a digital marketing strategy when creating awareness of Ireland as a brand in the US and Canada. This study addresses a gap in the literature in relation to the use of social media when attracting the North American holidaymaker to Ireland. The findings from this investigation will extend an under-researched body of literature pertaining to Ireland as a destination and the successful digital marketing campaigns that have achieved exponential growth in this sector over the past five years. The empirical evidence presented also illustrates how the innovative use of social media has assisted the DMO to engage with the North American holidaymaker as part of an effective digital marketing strategy. This paper will be of value to academics and industry practitioners interested in film-induced tourism and indeed tourism in general, as well as students.

Keywords: digital marketing, tourism, strategies, movies, US TV

Procedia PDF Downloads 255
4345 Optimization of Palm Oil Plantation Revitalization in North Sumatera

Authors: Juliza Hidayati, Sukardi, Ani Suryani, Sugiharto, Anas M. Fauzi

Abstract:

The idea of making North Sumatera as a barometer of national oil palm industry requires efforts commodities and agro-industry development of oil palm. One effort that can be done is by successful execution plantation revitalization. The plantation Revitalization is an effort to accelerate the development of smallholder plantations, through expansion and replanting by help of palm Estate Company as business partner and bank financed plantation revitalization fund. Business partner agreement obliged and bound to make at least the same smallholder plantation productivity with business partners, so that the refund rate to banks become larger and prosperous people as a plantation owner. Generally low productivity of smallholder plantations under normal potential caused a lot of old and damaged plants with plant material at random. The purpose of revitalizing oil palm plantations is which are to increase their competitiveness through increased farm productivity. The research aims to identify potential criteria in influencing plantation productivity improvement priorities to be observed and followed up in order to improve the competitiveness of destinations and make North Sumatera barometer of national palm oil can be achieved. Research conducted with Analytical Network Process (ANP), to find the effect of dependency relationships between factors or criteria with the knowledge of the experts in order to produce an objective opinion and relevant depict the actual situation.

Keywords: palm barometer, acceleration of plantation development, productivity, revitalization

Procedia PDF Downloads 681
4344 A Novel Hybrid Lubri-Coolant for Machining Difficult-to-Cut Ti-6Al-4V Alloy

Authors: Muhammad Jamil, Ning He, Wei Zhao

Abstract:

It is a rough estimation that the aerospace companies received orders of 37000 new aircraft, including the air ambulances, until 2037. And titanium alloys have a 15% contribution in modern aircraft's manufacturing owing to the high strength/weight ratio. Despite their application in the aerospace and medical equipment manufacturing industry, still, their high-speed machining puts a challenge in terms of tool wear, heat generation, and poor surface quality. Among titanium alloys, Ti-6Al-4V is the major contributor to aerospace application. However, its poor thermal conductivity (6.7W/mK) accumulates shear and friction heat at the tool-chip interface zone. To dissipate the heat generation and friction effect, cryogenic cooling, Minimum quantity lubrication (MQL), nanofluids, hybrid cryogenic-MQL, solid lubricants, etc., are applied frequently to underscore their significant effect on improving the machinability of Ti-6Al-4V. Nowadays, hybrid lubri-cooling is getting attention from researchers to explore their effect regarding the hard-to-cut Ti-6Al-4V. Therefore, this study is devoted to exploring the effect of hybrid ethanol-ester oil MQL regarding the cutting temperature, surface integrity, and tool life. As the ethanol provides -OH group and ester oil of long-chain molecules provide a tribo-film on the tool-workpiece interface. This could be a green manufacturing alternative for the manufacturing industry.

Keywords: hybrid lubri-cooling, surface roughness, tool wear, MQL

Procedia PDF Downloads 83
4343 A Case Study for User Rating Prediction on Automobile Recommendation System Using Mapreduce

Authors: Jiao Sun, Li Pan, Shijun Liu

Abstract:

Recommender systems have been widely used in contemporary industry, and plenty of work has been done in this field to help users to identify items of interest. Collaborative Filtering (CF, for short) algorithm is an important technology in recommender systems. However, less work has been done in automobile recommendation system with the sharp increase of the amount of automobiles. What’s more, the computational speed is a major weakness for collaborative filtering technology. Therefore, using MapReduce framework to optimize the CF algorithm is a vital solution to this performance problem. In this paper, we present a recommendation of the users’ comment on industrial automobiles with various properties based on real world industrial datasets of user-automobile comment data collection, and provide recommendation for automobile providers and help them predict users’ comment on automobiles with new-coming property. Firstly, we solve the sparseness of matrix using previous construction of score matrix. Secondly, we solve the data normalization problem by removing dimensional effects from the raw data of automobiles, where different dimensions of automobile properties bring great error to the calculation of CF. Finally, we use the MapReduce framework to optimize the CF algorithm, and the computational speed has been improved times. UV decomposition used in this paper is an often used matrix factorization technology in CF algorithm, without calculating the interpolation weight of neighbors, which will be more convenient in industry.

Keywords: collaborative filtering, recommendation, data normalization, mapreduce

Procedia PDF Downloads 217
4342 The Impact of the Covid-19 Crisis on the Information Behavior in the B2B Buying Process

Authors: Stehr Melanie

Abstract:

The availability of apposite information is essential for the decision-making process of organizational buyers. Due to the constraints of the Covid-19 crisis, information channels that emphasize face-to-face contact (e.g. sales visits, trade shows) have been unavailable, and usage of digitally-driven information channels (e.g. videoconferencing, platforms) has skyrocketed. This paper explores the question in which areas the pandemic induced shift in the use of information channels could be sustainable and in which areas it is a temporary phenomenon. While information and buying behavior in B2C purchases has been regularly studied in the last decade, the last fundamental model of organizational buying behavior in B2B was introduced by Johnston and Lewin (1996) in times before the advent of the internet. Subsequently, research efforts in B2B marketing shifted from organizational buyers and their decision and information behavior to the business relationships between sellers and buyers. This study builds on the extensive literature on situational factors influencing organizational buying and information behavior and uses the economics of information theory as a theoretical framework. The research focuses on the German woodworking industry, which before the Covid-19 crisis was characterized by a rather low level of digitization of information channels. By focusing on an industry with traditional communication structures, a shift in information behavior induced by an exogenous shock is considered a ripe research setting. The study is exploratory in nature. The primary data source is 40 in-depth interviews based on the repertory-grid method. Thus, 120 typical buying situations in the woodworking industry and the information and channels relevant to them are identified. The results are combined into clusters, each of which shows similar information behavior in the procurement process. In the next step, the clusters are analyzed in terms of the post and pre-Covid-19 crisis’ behavior identifying stable and dynamic information behavior aspects. Initial results show that, for example, clusters representing search goods with low risk and complexity suggest a sustainable rise in the use of digitally-driven information channels. However, in clusters containing trust goods with high significance and novelty, an increased return to face-to-face information channels can be expected after the Covid-19 crisis. The results are interesting from both a scientific and a practical point of view. This study is one of the first to apply the economics of information theory to organizational buyers and their decision and information behavior in the digital information age. Especially the focus on the dynamic aspects of information behavior after an exogenous shock might contribute new impulses to theoretical debates related to the economics of information theory. For practitioners - especially suppliers’ marketing managers and intermediaries such as publishers or trade show organizers from the woodworking industry - the study shows wide-ranging starting points for a future-oriented segmentation of their marketing program by highlighting the dynamic and stable preferences of elaborated clusters in the choice of their information channels.

Keywords: B2B buying process, crisis, economics of information theory, information channel

Procedia PDF Downloads 184
4341 Daily Variations of Polycyclic Aromatic Hydrocarbons (PAHs) in Industrial Sites in an Suburban Area of Sour El Ghozlane, Algeria

Authors: Sidali Khedidji, Noureddine Yassaa, Riad Ladji

Abstract:

In this study, n-alkanes which are hazardous for the environment and human health were investigated in Sour El Ghozlane suburban atmosphere at a sampling point from April 2013 to Mai 2013. Ambient concentration measurements of n-Alkanes were carried out at a regional study of the cement industry in Sour El Ghozlane. During sampling, the airborne particulate matter was enriched onto PTFE filters by using a two medium volume samplers with or without a size-selective inlet for PM10 and TSP were used and each sampling period lasted approximately 24 h. The organic compounds were characterized using gas chromatography coupled with mass spectrometric detection (GC-MS). Total concentrations for n-Alkanes recorded in Sour El Ghozlane suburban ranged from 42 to 69 ng m-3. Gravimeter method was applied to the black smoke concentration data for Springer seasons. The 24 h average concentrations of n-alkanes contain the PM10 and TSP of Sour El Ghozlane suburban atmosphere were found in the range 0.50–7.06 ng/m3 and 0.29–6.97 ng/m3, respectively, in the sampling period. Meteorological factors, such as (relative humidity and temperature) were typically found to be affecting PMs, especially PM10. Air temperature did not seem to be significantly affecting TSP and PM10 mass concentrations. The guide value fixed by the European Community, 40 μg/m3 was not to exceed 35 days, was exceeded in some samples. However, it should be noted that the value limit fixed by the Algerian regulations 80 μg/m3 has been exceeded in 1 sampler during the period study.

Keywords: n-alkanes, PM10, TSP, particulate matter, cement industry

Procedia PDF Downloads 393
4340 Novel Practices in Research and Innovation Management

Authors: A. Ravinder Nath, D. Jaya Prakash, T. Venkateshwarlu, P. Raja Rao

Abstract:

The introduction of novel practices in research and innovation management at the university are likely to make a real difference in improving the quality of life and boost the global competitiveness for sustainable economic growth. Establishment a specific institutional structure at the university level provides professional management and administrative expertise to the university’s research community by sourcing out funding opportunities, extending guidance in grant proposal preparation and submission and also assisting in the post award reporting and regulatory observance. In addition to these it can involve in negotiating fair and equitable research contracts. Further it administer research governance to provide support and encourage collaborations across all disciplines of the university with industry, government, community based organizations, foundations, and associations at the local, regional, national and international levels/scales. The partnerships in research and innovation are more powerful and far needed tools for knowledge-based economy, where the universities can offer the services of much wanted human resources to promote, foster, and sustain excellence in research. In addition to this the institutes provide amply desired infrastructure and expertise to work with the investigators, and the industry will generate required financial resources in a coordinated manner. Further it is possible to carryout high-end applied research and synergizes the research capabilities and professional skills of students, faculty, scientists, and industrial work force.

Keywords: collaborations, competitiveness, contracts, governance

Procedia PDF Downloads 397
4339 Medical Surveillance Management

Authors: Jina K., Kittinan C. Athitaya J., Weerapat B., Amornrat T., Waraphan N.

Abstract:

Working in the exploration and production of petroleum exposed workers to various health risks, including but not limited to physical and chemical risks. Although lots of barriers have been put in place, e.g., hazard monitoring in the workplace, appropriate training on health hazards, proper personal protective equipment (PPE), the health hazard may harm the workers if the barriers are not effectively implemented. To prove the effectiveness of these barriers, it is necessary to monitor exposure by putting in place the medical surveillance program via biological monitoring of chemical hazards and physical check-ups for physical hazards. Medical surveillance management is the systematic assessment and monitoring of employees exposed or potentially exposed to occupational hazards with the goal of reducing and ultimately preventing occupational illness and injury. The paper aims to demonstrate the effectiveness of medical surveillance management in mitigating health risks associated with physical and chemical hazards in the petroleum industry by focusing on implementing programs for biological monitoring and physical examinations, including defining procedures for biological monitoring, urine sample collection, physical examinations, and result management on offshore petroleum platforms. The implementation of medical surveillance management has proven effective in monitoring worker exposure to physical and chemical hazards, leading to reduced medical expenses and the risk associated with work-related diseases significantly.

Keywords: medical surveillance, petroleum industry, occupational hazards, medical surveillance process

Procedia PDF Downloads 17
4338 Alternative Islamic Finance Channels and Instruments: An Evaluation of the Potential and Considerations in Light of Sharia Principles

Authors: Tanvir A. Uddin, Blake Goud

Abstract:

Emerging trends in FinTech-enabled alternative finance, which includes channels and instruments emerging outside the traditional financial system, heralds unprecedented opportunities to improve financial intermediation and increase access to finance. With widespread criticism of the mainstream Islamic banking and finance sector as either mimicking the conventional system, failing to achieve inclusive growth or both, industry stakeholders are turning to technology to show that finance can be done differently. This paper will outline the critical elements for successful deployment of technology to maximize benefit and minimize potential for harm from introduction of Islamic FinTech and propose recommendations for Islamic financial institutions, FinTech companies, regulators and other stakeholders who are integrating or who are considering introducing FinTech solutions. The paper will present an overview of literature, present relevant case studies and summarize the lessons from interviews conducted with Islamic FinTech founders from around the world. With growing central bank concerns about leveraged loans and ballooning private credit markets globally (estimated at $1.4 trillion), current and future Islamic FinTech operators are at risk of contributing to the problems they aim to solve by operating in a 'shadow banking' system. The paper will show that by systematising a robust theory of change linked to positive outcomes, utilising objective impact frameworks (e.g., the Impact Measurement Project) and instilling a risk management culture that is proactive about potential social harm (e.g., irresponsible lending), FinTech can enable the Islamic finance industry to support positive social impact and minimize harm in support of the maqasid. The adoption of FinTech within the Islamic finance context is still at a nascent stage and the recommendations we provide based on the limited experience to date will help address some of the major cross-cutting issues related to FinTech. Further research will be needed to elucidate in more detail issues relating to individual sectors and countries within the broader global Islamic finance industry.

Keywords: alternative finance, FinTech, Islamic finance, maqasid, theory of change

Procedia PDF Downloads 153
4337 Going beyond the Traditional Offering in Modern Financial Services

Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

Abstract:

German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

Procedia PDF Downloads 133
4336 Measuring Service Recovery Quality of Electronic Shopping Customers: A Study of Select Cities in India

Authors: Ramanjaneyulu Mogili, G.V.R.K. Acharyulu

Abstract:

Indian organized retail sector is growing at a faster pace and gaining popularity. Indian Brand Equity Foundation (IBEF) reveals that the current market size of Indian retail industry is about US$ 520 billion with for growth rate 14 to 15 percent annually by 2018 the Indian retail sector is likely to grow at a CAGR of 13% to reach a size of US$ 950 billion. Developments in Information Technology have enabled online Retail sector that empowers customers to order products, conduct transactions without the need to interact physically with the retailers. In recent years, the online shopping industry has gained popularity to the point where certain categories of customers would consider buying electronic products online rather than visiting the stores. Conventionally the physical location of a store is seen as a source of competitive advantage. Online Retailing service sites provide virtual shopping space to the customers. Online Retail services are gaining momentum in India, with internet penetration improving in the country and smartphones becoming affordable along with changing lifestyles and preferences of customers. Although online shoppers prefer the convenience and choice available in online shopping, certain issues raised due to the occurrence of service failure. The proposed study attempts to measure the service recovery and failure process of electronic goods in Indian retail channels.

Keywords: service recovery, customer satisfaction, e-shopping, service failure

Procedia PDF Downloads 227
4335 Material Use and Life Cycle GHG Emissions of Different Electrification Options for Long-Haul Trucks

Authors: Nafisa Mahbub, Hajo Ribberink

Abstract:

Electrification of long-haul trucks has been in discussion as a potential strategy to decarbonization. These trucks will require large batteries because of their weight and long daily driving distances. Around 245 million battery electric vehicles are predicted to be on the road by the year 2035. This huge increase in the number of electric vehicles (EVs) will require intensive mining operations for metals and other materials to manufacture millions of batteries for the EVs. These operations will add significant environmental burdens and there is a significant risk that the mining sector will not be able to meet the demand for battery materials, leading to higher prices. Since the battery is the most expensive component in the EVs, technologies that can enable electrification with smaller batteries sizes have substantial potential to reduce the material usage and associated environmental and cost burdens. One of these technologies is an ‘electrified road’ (eroad), where vehicles receive power while they are driving, for instance through an overhead catenary (OC) wire (like trolleybuses and electric trains), through wireless (inductive) chargers embedded in the road, or by connecting to an electrified rail in or on the road surface. This study assessed the total material use and associated life cycle GHG emissions of two types of eroads (overhead catenary and in-road wireless charging) for long-haul trucks in Canada and compared them to electrification using stationary plug-in fast charging. As different electrification technologies require different amounts of materials for charging infrastructure and for the truck batteries, the study included the contributions of both for the total material use. The study developed a bottom-up approach model comparing the three different charging scenarios – plug in fast chargers, overhead catenary and in-road wireless charging. The investigated materials for charging technology and batteries were copper (Cu), steel (Fe), aluminium (Al), and lithium (Li). For the plug-in fast charging technology, different charging scenarios ranging from overnight charging (350 kW) to megawatt (MW) charging (2 MW) were investigated. A 500 km of highway (1 lane of in-road charging per direction) was considered to estimate the material use for the overhead catenary and inductive charging technologies. The study considered trucks needing an 800 kWh battery under the plug-in charger scenario but only a 200 kWh battery for the OC and inductive charging scenarios. Results showed that overall the inductive charging scenario has the lowest material use followed by OC and plug-in charger scenarios respectively. The materials use for the OC and plug-in charger scenarios were 50-70% higher than for the inductive charging scenarios for the overall system including the charging infrastructure and battery. The life cycle GHG emissions from the construction and installation of the charging technology material were also investigated.

Keywords: charging technology, eroad, GHG emissions, material use, overhead catenary, plug in charger

Procedia PDF Downloads 51
4334 Flight School Perceptions of Electric Planes for Training

Authors: Chelsea-Anne Edwards, Paul Parker

Abstract:

Flight school members are facing a major disruption in the technologies available for them to fly as electric planes enter the aviation industry. The year 2020 marked a new era in aviation with the first type certification of an electric plane. The Pipistrel Velis Electro is a two-seat electric aircraft (e-plane) designed for flight training. Electric flight training has the potential to deeply reduce emissions, noise, and cost of pilot training. Though these are all attractive features, understanding must be developed on the perceptions of the essential actor of the technology, the pilot. This study asks student pilots, flight instructors, flight center managers, and other members of flight schools about their perceptions of e-planes. The questions were divided into three categories: safety and trust of the technology, expected costs in comparison to conventional planes, and interest in the technology, including their desire to fly electric planes. Participants were recruited from flight schools using a protocol approved by the Office of Research Ethics. None of these flight schools have an e-plane in their fleet so these views are based on perceptions rather than direct experience. The results revealed perceptions that were strongly positive with many qualitative comments indicating great excitement about the potential of the new electric aviation technology. Some concerns were raised regarding battery endurance limits. Overall, the flight school community is clearly in favor of introducing electric propulsion technology and reducing the environmental impacts of their industry.

Keywords: electric planes, flight training, green aircraft, student pilots, sustainable aviation

Procedia PDF Downloads 167
4333 Understanding Natural Resources Governance in Canada: The Role of Institutions, Interests, and Ideas in Alberta's Oil Sands Policy

Authors: Justine Salam

Abstract:

As a federal state, Canada’s constitutional arrangements regarding the management of natural resources is unique because it gives complete ownership and control of natural resources to the provinces (subnational level). However, the province of Alberta—home to the third largest oil reserves in the world—lags behind comparable jurisdictions in levying royalties on oil corporations, especially oil sands royalties. While Albertans own the oil sands, scholars have argued that natural resource exploitation in Alberta benefits corporations and industry more than it does Albertans. This study provides a systematic understanding of the causal factors affecting royalties in Alberta to map dynamics of power and how they manifest themselves during policy-making. Mounting domestic and global public pressure led Alberta to review its oil sands royalties twice in less than a decade through public-commissioned Royalty Review Panels, first in 2007 and again in 2015. The Panels’ task was to research best practices and to provide policy recommendations to the Government through public consultations with Albertans, industry, non-governmental organizations, and First Nations peoples. Both times, the Panels recommended a relative increase to oil sands royalties. However, irrespective of the Reviews’ recommendations, neither the right-wing 2007 Progressive Conservative Party (PC) nor the left-wing 2015 New Democratic Party (NDP) government—both committed to increase oil sands royalties—increased royalty intake. Why did two consecutive political parties at opposite ends of the political spectrum fail to account for the recommendations put forward by the Panel? Through a qualitative case-study analysis, this study assesses domestic and global causal factors for Alberta’s inability to raise oil sands royalties significantly after the two Reviews through an institutions, interests, and ideas framework. Indeed, causal factors can be global (e.g. market and price fluctuation) or domestic (e.g. oil companies’ influence on the Alberta government). The institutions, interests, and ideas framework is at the intersection of public policy, comparative studies, and political economy literatures, and therefore draws multi-faceted insights into the analysis. To account for institutions, the study proposes to review international trade agreements documents such as the North American Free Trade Agreement (NAFTA) because they have embedded Alberta’s oil sands into American energy security policy and tied Canadian and Albertan oil policy in legal international nods. To account for interests, such as how the oil lobby or the environment lobby can penetrate governmental decision-making spheres, the study draws on the Oil Sands Oral History project, a database of interviews from government officials and oil industry leaders at a pivotal time in Alberta’s oil industry, 2011-2013. Finally, to account for ideas, such as how narratives of Canada as a global ‘energy superpower’ and the importance of ‘energy security’ have dominated and polarized public discourse, the study relies on content analysis of Alberta-based pro-industry newspapers to trace the prevalence of these narratives. By mapping systematically the nods and dynamics of power at play in Alberta, the study sheds light on the factors that influence royalty policy-making in one of the largest industries in Canada.

Keywords: Alberta Canada, natural resources governance, oil sands, political economy

Procedia PDF Downloads 132
4332 Factors Influencing Accidental Cyberbullying on Social Media: Healthcare Industry Perspective

Authors: Iram Malik, Mahrukh Shaukat, Abeer Malik, Hafiz Mushtaq Ahmad

Abstract:

There has been a lot of research on cyberbullying but there is limited research on the topic of accidental cyberbullying on social media with a special focus on healthcare industry. This study emphasizes to uncover the factors that contribute to accidental cyberbullying on social media and how it affects individuals, professionals’ and organizations in health care sector. Nowadays social media is becoming a necessary part of our daily life; there is a need to look into how it is shaping our social life and behaviors displayed online. Instances of cyber bullying can have long-term repercussions due to over-sharing of information. The study used simple random sampling and the instrument of data collection was survey. A sample size of 250 healthcare professionals was chosen from the twin cities of Rawalpindi and Islamabad, Pakistan to examine the relationship between their attitude towards internet use, psychological distress, verbal aggression, envy, frustration, self-compassion, personality traits and accidental cyberbullying on social media. The results of the study have been encouraging. The findings show that psychological distress, aggression, envy, frustration and personality traits had direct effect on accidental cyberbullying whereas compassion, altruism lessened the effect of accidental cyberbullying behavior. It is our intent that the findings of this study could help raise awareness regarding fair use of social media, help policy makers in developing appropriate policies for avoiding cyberbullying in future.

Keywords: accidental cyberbullying, aggression, cyberbullying, frustration, social media

Procedia PDF Downloads 288
4331 Social Receptiveness of Tourists in the Batumi Population

Authors: Megi Surmanidze

Abstract:

The relations between tourists and the population is essentially important to develop tourism. This global branch is an incoming stream and plays the huge economy role in the country is development. This branch is important for adjarian region as well as for Batumi as a touristic city. When lots of tourists visit our city, the relationship and attitudes between tourists and the local population is too important and play the determinant role whether they will visit the country again or not. Receptivness is on actual accompanying process typical for tourism as a growing incoming business direction, and its necessary to be studied the problems and touristic relationships. The aim of the article is to show the importance of receptibility in the business touristic industry also, the topic was to show the dimension scale of receptibility revearing in Batumi population. The topic itself is of hight importance as the touristic business is growing day by day, though the helpful and disturbing social couses were left out of focus were dencely connected to the relations between tourists and the local population. The value is real and directly proportional to the relationship between tourists and the population. The qualitative social research was fulfield. The method to get information was deepened interview. the method gave us the opportunity to get acquented to the actors points of view, also it was suitable points of view, also it was suitable to create favourable conditions to respodents be sincere during interviev and don’t hide their real emotions and the opinions.

Keywords: tourism industry, receptiveness, cultural identity, xenophobia

Procedia PDF Downloads 107
4330 Factors Determining the Vulnerability to Occupational Health Risk and Safety of Call Center Agents in the Philippines

Authors: Lito M. Amit, Venecio U. Ultra, Young-Woong Song

Abstract:

The business process outsourcing (BPO) in the Philippines is expanding rapidly attracting more than 2% of total employment. Currently, the BPO industry is confronted with several issues pertaining to sustainable productivity such as meeting the staffing gap, high rate of employees’ turnover and workforce retention, and the occupational health and safety (OHS) of call center agents. We conducted a survey of OHS programs and health concerns among call center agents in the Philippines and determined the sociocultural factors that affect the vulnerability of call center agents to occupational health risks and hazards. The majority of the agents affirmed that OHS are implemented and OHS orientation and emergency procedures were conducted at employment initiations, perceived favorable and convenient working environment except for occasional noise disturbances and acoustic shock, visual, and voice fatigues. Male agents can easily adjust to the demands and changes in their work environment and flexible work schedules than female agents. Female agents have a higher tendency to be pressured and humiliated by low work performance, experience a higher incidence of emotional abuse, psychological abuse, and experience more physical stress than male agents. The majority of the call center agents had a night-shift schedule and regardless of other factors, night shift work brings higher stress to agents. While working in a call center, higher incidence of headaches and insomnia, burnout, suppressed anger, anxiety, and depressions were experienced by female, younger (21-25 years old) and those at night shift than their counterpart. Most common musculoskeletal disorders include body pain in the neck, shoulders and back; and hand and wrist disorders and these are commonly experienced by female and younger workers. About 30% experienced symptoms of cardiovascular and gastrointestinal disorders and weakened immune systems. Overall, these findings have shown the variable vulnerability by a different subpopulation of call center agents and are important in the occupational health risk prevention and management towards a sustainable human resource for BPO industry in the Philippines.

Keywords: business process outsourcing industry, health risk of call center agents, socio-cultural determinants, Philippines

Procedia PDF Downloads 494
4329 Challenging Shariah-Compliant Contract: A Latest Insight into the Malaysian Court Cases

Authors: Noor Suhaida Kasri

Abstract:

In the last three decades, Malaysia has developed fundamental legal and regulatory structures that aim to accommodate and facilitate the growth of Islamic banking and finance industry. Important building blocks have been put in place, to cite a few, the elevation of the position of the Malaysian Central Bank Shariah Advisory Council (SAC) as the apex advisory body and the empowerment of their Shariah resolutions through the Central Bank Act 1958; the promulgation of the Islamic Financial Services Act 2013 that regulate and govern Islamic finance market with a robust statutory requirement of Shariah governance and Shariah compliance. Notwithstanding these achievements, enforceability of Shariah-compliant contract remains a contentious subject. The validity of Al Bai Bithaman Ajil concept that was commonly used by the Islamic financial institutions in their financing facilities structures and documentation has been unabatedly challenged by the customers in courts. The challenge was due to the manner in which the Al Bai Bithaman Ajil transactions were carried out. Due to this legal challenge, Al Bai Bithaman Ajil financing structure seems to no longer be the practitioners’ favourite in Malaysia, though its substitute tawarruq and commodity murabahah financing structure may potentially face similar legal challenges. This paper examines the legal challenges affecting the enforceability of these underlying Shariah contracts. The examination of these cases highlights the manner in which these contracts were being implemented and applied by the Malaysian Islamic financial institutions that triggered Shariah and legal concern. The analysis also highlights the approach adopted by the Malaysian courts in determining the Shariah issues as well as the SAC in ascertaining the rulings on the Shariah issues referred to it by the courts. The paper adopts a qualitative research methodology by using textual and documentary analysis approach. The outcome of this study underlines factors that require consideration by industry stakeholder in order to ameliorate the efficacy of the existing building blocks that would eventually strengthens the validity and enforceability of Shariah-compliant contracts. This, in the long run, will further reinforce financial stability and trust into the Islamic banking and finance industry in Malaysia.

Keywords: enforceability of Shariah compliant contract, legal challenge, legal and regulatory framework, Shariah Advisory Council

Procedia PDF Downloads 234
4328 Integrated Modeling of Transformation of Electricity and Transportation Sectors: A Case Study of Australia

Authors: T. Aboumahboub, R. Brecha, H. B. Shrestha, U. F. Hutfilter, A. Geiges, W. Hare, M. Schaeffer, L. Welder, M. Gidden

Abstract:

The proposed stringent mitigation targets require an immediate start for a drastic transformation of the whole energy system. The current Australian energy system is mainly centralized and fossil fuel-based in most states with coal and gas-fired plants dominating the total produced electricity over the recent past. On the other hand, the country is characterized by a huge, untapped renewable potential, where wind and solar energy could play a key role in the decarbonization of the Australia’s future energy system. However, integrating high shares of such variable renewable energy sources (VRES) challenges the power system considerably due to their temporal fluctuations and geographical dispersion. This raises the concerns about flexibility gap in the system to ensure the security of supply with increasing shares of such intermittent sources. One main flexibility dimension to facilitate system integration of high shares of VRES is to increase the cross-sectoral integration through coupling of electricity to other energy sectors alongside the decarbonization of the power sector and reinforcement of the transmission grid. This paper applies a multi-sectoral energy system optimization model for Australia. We investigate the cost-optimal configuration of a renewable-based Australian energy system and its transformation pathway in line with the ambitious range of proposed climate change mitigation targets. We particularly analyse the implications of linking the electricity and transport sectors in a prospective, highly renewable Australian energy system.

Keywords: decarbonization, energy system modelling, renewable energy, sector coupling

Procedia PDF Downloads 133
4327 Multi-Criteria Decision Making Tool for Assessment of Biorefinery Strategies

Authors: Marzouk Benali, Jawad Jeaidi, Behrang Mansoornejad, Olumoye Ajao, Banafsheh Gilani, Nima Ghavidel Mehr

Abstract:

Canadian forest industry is seeking to identify and implement transformational strategies for enhanced financial performance through the emerging bioeconomy or more specifically through the concept of the biorefinery. For example, processing forest residues or surplus of biomass available on the mill sites for the production of biofuels, biochemicals and/or biomaterials is one of the attractive strategies along with traditional wood and paper products and cogenerated energy. There are many possible process-product biorefinery pathways, each associated with specific product portfolios with different levels of risk. Thus, it is not obvious which unique strategy forest industry should select and implement. Therefore, there is a need for analytical and design tools that enable evaluating biorefinery strategies based on a set of criteria considering a perspective of sustainability over the short and long terms, while selecting the existing core products as well as selecting the new product portfolio. In addition, it is critical to assess the manufacturing flexibility to internalize the risk from market price volatility of each targeted bio-based product in the product portfolio, prior to invest heavily in any biorefinery strategy. The proposed paper will focus on introducing a systematic methodology for designing integrated biorefineries using process systems engineering tools as well as a multi-criteria decision making framework to put forward the most effective biorefinery strategies that fulfill the needs of the forest industry. Topics to be covered will include market analysis, techno-economic assessment, cost accounting, energy integration analysis, life cycle assessment and supply chain analysis. This will be followed by describing the vision as well as the key features and functionalities of the I-BIOREF software platform, developed by CanmetENERGY of Natural Resources Canada. Two industrial case studies will be presented to support the robustness and flexibility of I-BIOREF software platform: i) An integrated Canadian Kraft pulp mill with lignin recovery process (namely, LignoBoost™); ii) A standalone biorefinery based on ethanol-organosolv process.

Keywords: biorefinery strategies, bioproducts, co-production, multi-criteria decision making, tool

Procedia PDF Downloads 232
4326 Study on the Relationship between the Urban Geography and Urban Agglomeration to the Effects of Carbon Emissions

Authors: Peng-Shao Chen, Yen-Jong Chen

Abstract:

In recent years, global warming, the dramatic change in energy prices and the exhaustion of natural resources illustrated that energy-related topic cannot be ignored. Despite the relationship between the cities and CO₂ emissions has been extensively studied in recent years, little attention has been paid to differences in the geographical location of the city. However, the geographical climate has a great impact on lifestyle from city to city, such as the type of buildings, the major industry of the city, etc. Therefore, the paper instigates empirically the effects of kinds of urban factors and CO₂ emissions with consideration of the different geographic, climatic zones which cities are located. Using the regression model and a dataset of urban agglomeration in East Asia cities with over one million population, including 2005, 2010, and 2015 three years, the findings suggest that the impact of urban factors on CO₂ emissions vary with the latitude of the cities. Surprisingly, all kinds of urban factors, including the urban population, the share of GDP in service industry, per capita income, and others, have different level of impact on the cities locate in the tropical climate zone and temperate climate zone. The results of the study analyze the impact of different urban factors on CO₂ emissions in urban area with different geographical climate zones. These findings will be helpful for the formulation of relevant policies for urban planners and policy makers in different regions.

Keywords: carbon emissions, urban agglomeration, urban factor, urban geography

Procedia PDF Downloads 267
4325 A Systematic Review: Prevalence and Risk Factors of Low Back Pain among Waste Collection Workers

Authors: Benedicta Asante, Brenna Bath, Olugbenga Adebayo, Catherine Trask

Abstract:

Background: Waste Collection Workers’ (WCWs) activities contribute greatly to the recycling sector and are an important component of the waste management industry. As the recycling sector evolves, reports of injuries and fatal accidents in the industry demand notice particularly common and debilitating musculoskeletal disorders such as low back pain (LBP). WCWs are likely exposed to diverse work-related hazards that could contribute to LBP. However, to our knowledge there has never been a systematic review or other synthesis of LBP findings within this workforce. The aim of this systematic review was to determine the prevalence and risk factors of LBP among WCWs. Method: A comprehensive search was conducted in Ovid Medline, EMBASE, and Global Health e-publications with search term categories ‘low back pain’ and ‘waste collection workers’. Articles were screened at title, abstract, and full-text stages by two reviewers. Data were extracted on study design, sampling strategy, socio-demographic, geographical region, and exposure definition, definition of LBP, risk factors, response rate, statistical techniques, and LBP prevalence. Risk of bias (ROB) was assessed based on Hoy Damien’s ROB scale. Results: The search of three databases generated 79 studies. Thirty-two studies met the study inclusion criteria for both title and abstract; thirteen full-text articles met the study criteria at the full-text stage. Seven articles (54%) reported prevalence within 12 months of LBP between 42-82% among WCW. The major risk factors for LBP among WCW included: awkward posture; lifting; pulling; pushing; repetitive motions; work duration; and physical loads. Summary data and syntheses of findings was presented in trend-lines and tables to establish the several prevalence periods based on age and region distribution. Public health implications: LBP is a major occupational hazard among WCWs. In light of these risks and future growth in this industry, further research should focus on more detail ergonomic exposure assessment and LBP prevention efforts.

Keywords: low back pain, scavenger, waste collection workers, waste pickers

Procedia PDF Downloads 327
4324 Hybrid Approach for Software Defect Prediction Using Machine Learning with Optimization Technique

Authors: C. Manjula, Lilly Florence

Abstract:

Software technology is developing rapidly which leads to the growth of various industries. Now-a-days, software-based applications have been adopted widely for business purposes. For any software industry, development of reliable software is becoming a challenging task because a faulty software module may be harmful for the growth of industry and business. Hence there is a need to develop techniques which can be used for early prediction of software defects. Due to complexities in manual prediction, automated software defect prediction techniques have been introduced. These techniques are based on the pattern learning from the previous software versions and finding the defects in the current version. These techniques have attracted researchers due to their significant impact on industrial growth by identifying the bugs in software. Based on this, several researches have been carried out but achieving desirable defect prediction performance is still a challenging task. To address this issue, here we present a machine learning based hybrid technique for software defect prediction. First of all, Genetic Algorithm (GA) is presented where an improved fitness function is used for better optimization of features in data sets. Later, these features are processed through Decision Tree (DT) classification model. Finally, an experimental study is presented where results from the proposed GA-DT based hybrid approach is compared with those from the DT classification technique. The results show that the proposed hybrid approach achieves better classification accuracy.

Keywords: decision tree, genetic algorithm, machine learning, software defect prediction

Procedia PDF Downloads 329
4323 Emerging VC Industry and the Important Role of Marketing Expectations in Project Selection: Evidence on Russian Data

Authors: I. Rodionov, A. Semenov, E. Gosteva, O. Sokolova

Abstract:

Currently, the venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating prosperity of the modern economy. Actually, in Russia there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. Because of the research, the participation of investors with first-class reputation has a small impact on an indicator of the value of investment of the second round. The expected positive dependence of the second round investments on the forecasted market growth rate now of the deal is also rejected. So, the most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams which can attract more money on the start, and the target market growth is not the factor of crucial importance.

Keywords: venture industry, venture investment, determinants of the venture sector development, IT-sector

Procedia PDF Downloads 352