Search results for: free market foundation perspective

Authors: I. Hakki Eraslan, Birol Ozturk, Istemi Comlekci

Abstract:

This paper begins by defining what is meant by “globalization” in finance and by identifying the sources of value-added in the internationally-competitive financial services sector origination, trading and distribution of debt and equity capital market instruments and their derivatives, foreign exchange trading and securities brokerage, management of market risk and credit risk, loan syndication and structured bank financings, corporate finance and advisory services, and asset management. These activities are considered in terms of a “value-chain” one that ultimately gives rise to the real economic gains attributable to financial-center operations. The research presents available evidence as to where the relevant value-added activities usually take place. It then examines the “centrifugal” and “centripetal” forces that determine the concentration or dispersal of value-added activity in financial intermediation, both interregionally and internationally. Next, the research assesses the factors, which appear to underlie the locational pattern of international financial centers that has evolved. In preparing this paper, also it is examined the current position and the main opportunities and challenges facing world major financial services sector, and attempted to lay out a potential vision and strategies. It is conducted extensive research, including many internal research materials and publications. It is also engaged closely with the academia, industry practitioners and regulators, and consulted market experts from major world financial centers. More than 60 in‐depth consultative sessions were conducted in the past two years which provided insightful suggestions and innovative ideas on how to further financial industry’s position as an international financial centre. The paper concludes with the outlook for the future pattern of financial centers in the global competitive environment. The ideas and advice gathered are condensed into this paper that recommends to the strategic decision leaders a vision and a strategy for financial services sector to move forward amid a highly competitive environment.

Keywords: financial centers, competitiveness, financial services industry, economics

Procedia PDF Downloads 407

Authors: Trevor Toy, Josef Langerman

Abstract:

Around a quarter of the world’s data is generated by financial with an estimated 708.5 billion global non-cash transactions reached between 2018 and. And with Open Banking still a rapidly developing concept within the financial industry, there is an opportunity to create a secure mechanism for connecting its stakeholders to openly, legitimately and consensually share the data required to enable it. Integration and data sharing of anonymised transactional data are still operated in silos and centralised between the large corporate entities in the ecosystem that have the resources to do so. Smaller fintechs generating data and businesses looking to consume data are largely excluded from the process. Therefore there is a growing demand for accessible transactional data for analytical purposes and also to support the rapid global adoption of Open Banking. The following research has provided a solution framework that aims to provide a secure decentralised marketplace for 1.) data providers to list their transactional data, 2.) data consumers to find and access that data, and 3.) data subjects (the individuals making the transactions that generate the data) to manage and sell the data that relates to themselves. The platform also provides an integrated system for downstream transactional-related data from merchants, enriching the data product available to build a comprehensive view of a data subject’s spending habits. A robust and sustainable data market can be developed by providing a more accessible mechanism for data producers to monetise their data investments and encouraging data subjects to share their data through the same financial incentives. At the centre of the platform is the market mechanism that connects the data providers and their data subjects to the data consumers. This core component of the platform is developed on a decentralised blockchain contract with a market layer that manages transaction, user, pricing, payment, tagging, contract, control, and lineage features that pertain to the user interactions on the platform. One of the platform’s key features is enabling the participation and management of personal data by the individuals from whom the data is being generated. This framework developed a proof-of-concept on the Etheruem blockchain base where an individual can securely manage access to their own personal data and that individual’s identifiable relationship to the card-based transaction data provided by financial institutions. This gives data consumers access to a complete view of transactional spending behaviour in correlation to key demographic information. This platform solution can ultimately support the growth, prosperity, and development of economies, businesses, communities, and individuals by providing accessible and relevant transactional data for big data analytics and open banking.

Keywords: big data markets, open banking, blockchain, personal data management

Procedia PDF Downloads 76

Authors: Saeed Haghnia

Abstract:

This paper traces the back history of environments in which the elderly who could not stay in private dwellings were accommodated and taken care of in Iran in the 19th century. It investigates the factors impacting on the establishment of the first nursing homes in Iran in 1973. Today in 2020, the nursing home is the only available model of residential care environment for the elderly who cannot stay in private dwellings in Iran. Understanding the evolution of these environments from a socio-political perspective is crucial before studying nursing homes’ response to the elderly and society in Iran and seeking any alternative model specific to the context. However, no study on the evolution of these environments in Iran was found. Thus, this paper, by going through primary and secondary resources and from a socio-political perspective, investigates how the elderly who could not stay in private dwellings were accommodated and taken care of in Iran in the 19th century. Maristan, in the early 19th century in Egypt as a part of Islamic territory, is an example of such spaces in which homeless elderly were kept and taken care of. This study suggests that in the 19th century in Iran in lack of significant governmental influence over people’s social affairs, any potential environments accommodating and taking care of the elderly who could not stay in private dwellings (mainly homeless) in Iran were probably regulated or supported by local figures, specifically clergies, as a response to the need for taking care of the vulnerable members of society.

Keywords: nursing home, ageing, Iran, middle east, Qajar, Pahlavi

Procedia PDF Downloads 98

Authors: Ali E. Abbas

Abstract:

This paper summarizes some of the discussions that occurred in a workshop in West Virginia, U.S.A which was sponsored by the National Science Foundation (NSF) in February 2016. The goal of the workshop was to explore the opportunities and challenges for applying systems engineering in large enterprises, and some of the issues that still persist. The main topics of the discussion included challenges with elaboration and abstraction in large systems, interfacing physical and social systems, and the need for axiomatic frameworks for large enterprises. We summarize these main points of discussion drawing parallels with decision making in organizations to instigate research in these discussion areas.

Keywords: decision analysis, systems engineering, framing, value creation

Procedia PDF Downloads 340

Authors: Pawit Tangviroon, Apichit Svang-Ariyaskul

Abstract:

Rubber seed oil is an attractive alternative feedstock for biodiesel production because it is not related to food-chain plant. Rubber seed oil contains large amount of free fatty acids, which causes problem in biodiesel production. Free fatty acids can react with alkaline catalyst in biodiesel production. Acid esterification is used as pre-treatment to convert unwanted compound to desirable biodiesel. Phase separation of oil and methanol occurs at low ratio of methanol to oil and causes low reaction rate and conversion. Acid esterification requires large excess of methanol in order to increase the miscibility of methanol in oil and accordingly, it is a more expensive separation process. In this work, the kinetics of esterification of rubber seed oil with methanol is developed from available experimental results. Reactive distillation process was designed by using Aspen Plus program. The effects of operating parameters such as feed ratio, molar reflux ratio, feed temperature, and feed stage are investigated in order to find the optimum conditions. Results show that the reactive distillation process is proved to be better than conventional process. It consumes less feed methanol and less energy while yielding higher product purity than the conventional process. This work can be used as a guideline for further development to industrial scale of biodiesel production using reactive distillation.

Keywords: biodiesel, reactive distillation, rubber seed oil, transesterification

Procedia PDF Downloads 355

Authors: Urvashi Kaushal

Abstract:

With the entry of multinationals in India, engineering students of Indian universities have opportunity to work with the best and the most innovative industries in the world, but in order to compete in the global job market, they require an added competence of communication skills in English. With work places turning global, competence in English can provide the Indian student the added advantage to begin his/her career in the international market. The present method of teaching English in any engineering college across Gujarat mostly concentrates on developing writing, and reading skills. Developing speech becomes a secondary topic owing to the old trend of lecturing in the class room and the huge strength of the class. This paper aims to highlight the importance of improving speaking skills of engineering students. It also insists that presentations can be used as a viable method to enhance the communication skills of these students. Presentations force students to plan, prepare, practice and perfect their communication skills which will enable them to get a foothold in the industry. The paper also discusses one such experiment carried out at the author’s institute and the response it received. Further, such experimental language learning approach is bound to have some limitations and obstacles. The paper suggests ways to overcome such limitations and strives to develop an interesting means of developing communication skills of the engineering students.

Keywords: engineering, English, presentation, communication skills

Procedia PDF Downloads 445

Authors: Manuel Branco

Abstract:

This paper argues that mainstream economics is one of the reasons that can explain the difficulty in fully realizing human rights because its logic is intrinsically contradictory to human rights, most especially economic, social and cultural rights. First, its utilitarianism, both in its cardinal and ordinal understanding, contradicts human rights principles. Maximizing aggregate utility along the lines of cardinal utility is a theoretical exercise that consists in ensuring as much as possible that gains outweigh losses in society. In this process an individual may get worse off, though. If mainstream logic is comfortable with this, human rights' logic does not. Indeed, universality is a key principle in human rights and for this reason the maximization exercise should aim at satisfying all citizens’ requests when goods and services necessary to secure human rights are at stake. The ordinal version of utilitarianism, in turn, contradicts the human rights principle of indivisibility. Contrary to ordinal utility theory that ranks baskets of goods, human rights do not accept ranking when these goods and services are necessary to secure human rights. Second, by relying preferably on market logic to allocate goods and services, mainstream economics contradicts human rights because the intermediation of money prices and the purpose of profit may cause exclusion, thus compromising the principle of universality. Finally, mainstream economics sees human rights mainly as constraints to the development of its logic. According to this view securing human rights would, then, be considered a cost weighing on economic efficiency and, therefore, something to be minimized. Fully realizing human rights needs, therefore, a different approach. This paper discusses a human rights-based political economy. This political economy, among other characteristics should give up mainstream economics narrow utilitarian approach, give up its belief that market logic should guide all exchanges of goods and services between human beings, and finally give up its view of human rights as constraints on rational choice and consequently on good economic performance. Giving up mainstream’s narrow utilitarian approach means, first embracing procedural utility and human rights-aimed consequentialism. Second, a more radical break can be imagined; non-utilitarian, or even anti-utilitarian, approaches may emerge, then, as alternatives, these two standpoints being not necessarily mutually exclusive, though. Giving up market exclusivity means embracing decommodification. More specifically, this means an approach that takes into consideration the value produced outside the market and an allocation process no longer necessarily centered on money prices. Giving up the view of human rights as constraints means, finally, to consider human rights as an expression of wellbeing and a manifestation of choice. This means, in turn, an approach that uses indicators of economic performance other than growth at the macro level and profit at the micro level, because what we measure affects what we do.

Keywords: economic and social rights, political economy, economic theory, markets

Procedia PDF Downloads 156

Authors: Miju Choi, Ava Seo

Abstract:

Japan has been positioned as a major inbound market to Korea, accounting for about 31% of total inbound visitors until 2012. The percentage has sharply dropped each year since and remained in second place, reaching 13.33% in 2016. Meanwhile, China has been boosted as a major inbound market, reaching 46.79% in 2016. Chinese tourists mainly visit Korea with the major purpose of shopping. They consume Korean cosmetic/beauty products and clothes while Japanese tourists prefer to purchase healthy food such as ginseng and seaweed. This study aims to investigate and compare tourist shopping patterns across two major inbound markets, China and Japan. A quantitative approach using survey was applied from 2009 to 2016. Findings suggest Chinese visit Korea due to quality of product, value for money, and accessibility, and trust. Meanwhile, Japanese choose Korea as a shopping destination mainly due to convenience, affordability, and tourist attractions. Also, there were significant differences in shopping venues. For example, Japanese tourists prefer shopping at department stores while Chinese tourists prefer retail outlets and local markets. This study contributes to deeper understanding on two major inbound markets to Korea and suggests future marketing strategies.

Keywords: tourist shopping patterns, Korea, China, Japan, historical data

Procedia PDF Downloads 200

Authors: Jurica Hižak

Abstract:

Getting to know the agents, i.e., identifying the free riders in a population, can be considered one of the main challenges in establishing cooperation. An ordinary memory-one agent such as Tit-for-tat may learn “who is who” in the population through direct interactions. Past experiences serve them as a landmark to know with whom to cooperate and against whom to retaliate in the next encounter. However, this kind of learning is risky and expensive. A cheaper and less painful way to detect free riders may be achieved by gossiping. For this reason, as part of this research, a special type of Tit-for-tat agent was designed – a “Gossip-Tit-for-tat” agent that can share data with other agents of its kind. The performances of both strategies, ordinary Tit-for-tat and Gossip-Tit-for-tat, against Always-defect have been compared in the finite-game framework of the Iterated Prisoner’s Dilemma via the Moran process. Agents were able to move in a random-walk fashion, and they were programmed to play Prisoner’s Dilemma each time they met. Moreover, at each step, one randomly selected individual was eliminated, and one individual was reproduced in accordance with the Moran process of selection. In this way, the size of the population always remained the same. Agents were selected for reproduction via the roulette wheel rule, i.e., proportionally to the relative fitness of the strategy. The absorption probability was calculated after the population had been absorbed completely by cooperators, which means that all the states have been occupied and all of the transition probabilities have been determined. It was shown that gossip increases absorption probabilities and therefore enhances the evolution of cooperation in the population.

Keywords: cooperation, gossip, indirect reciprocity, Moran process, prisoner’s dilemma, tit-for-tat

Procedia PDF Downloads 100

Authors: Jun Wang, Ge Zhang

Abstract:

Machine learning has been used in many areas today. It thrives at reviewing large volumes of data and identifying patterns and trends that might not be apparent to a human. Given the huge potential benefit and the amount of data available in the financial market, it is not surprising to see machine learning applied to various financial products. While future prices of financial securities are extremely difficult to forecast, we study them from a different angle. Instead of trying to forecast future prices, we apply machine learning algorithms to predict the direction of future price movement, in particular, whether a sector Exchange Traded Fund (ETF) would outperform or underperform the market in the next week or in the next month. We apply several machine learning algorithms for this prediction. The algorithms are Linear Discriminant Analysis (LDA), k-Nearest Neighbors (KNN), Decision Tree (DT), Gaussian Naive Bayes (GNB), and Neural Networks (NN). We show that these machine learning algorithms, most notably GNB and NN, have some predictive power in forecasting out-performance and under-performance out of sample. We also try to explore whether it is possible to utilize the predictions from these algorithms to outperform the buy-and-hold strategy of the S&P 500 index. The trading strategy to explore out-performance predictions does not perform very well, but the trading strategy to explore under-performance predictions can earn higher returns than simply holding the S&P 500 index out of sample.

Keywords: machine learning, ETF prediction, dynamic trading, asset allocation

Procedia PDF Downloads 106

Authors: Umamaheswari Shanmugam, Silvia Ronchi

Abstract:

Software, artificial intelligence, and machine learning can improve healthcare through innovative and advanced technologies that can use the large amount and variety of data generated during healthcare services every day; one of the significant advantages of these new technologies is the ability to get experience and knowledge from real-world use and to improve their performance continuously. Healthcare systems and institutions can significantly benefit because the use of advanced technologies improves the efficiency and efficacy of healthcare. Software-defined as a medical device, is stand-alone software that is intended to be used for patients for one or more of these specific medical intended uses: - diagnosis, prevention, monitoring, prediction, prognosis, treatment or alleviation of a disease, any other health conditions, replacing or modifying any part of a physiological or pathological process–manage the received information from in vitro specimens derived from the human samples (body) and without principal main action of its principal intended use by pharmacological, immunological or metabolic definition. Software qualified as medical devices must comply with the general safety and performance requirements applicable to medical devices. These requirements are necessary to ensure high performance and quality and protect patients' safety. The evolution and the continuous improvement of software used in healthcare must consider the increase in regulatory requirements, which are becoming more complex in each market. The gap between these advanced technologies and the new regulations is the biggest challenge for medical device manufacturers. Regulatory requirements can be considered a market barrier, as they can delay or obstacle the device's approval. Still, they are necessary to ensure performance, quality, and safety. At the same time, they can be a business opportunity if the manufacturer can define the appropriate regulatory strategy in advance. The abstract will provide an overview of the current regulatory framework, the evolution of the international requirements, and the standards applicable to medical device software in the potential market all over the world.

Keywords: artificial intelligence, machine learning, SaMD, regulatory, clinical evaluation, classification, international requirements, MDR, 510k, PMA, IMDRF, cyber security, health care systems

Procedia PDF Downloads 93

Authors: N. Rajeswara Rao, T. Venkatappa Rao, K. Sowri Babu, N. Srinivas Rao, P. S. V. Shanmukhi

Abstract:

Carboxymethyl Starch (CMS) is a biopolymer derived from starch by the substitution method. CMS is proclaimed to have improved physicochemical properties than native starch. The present work deals with the effect of gamma radiation on the physicochemical properties of CMS. The samples were exposed to gamma irradiation of doses 30, 60 and 90 kGy. The resultant properties were studied with electron spin resonance (ESR), fourier transform infrared spectrometer (FTIR), differential scanning calorimeter (DSC), X-ray diffractometer (XRD) and scanning electron microscopy. Irradiation of CMS by gamma rays initiates cleavage of glucosidic bonds producing different types of radicals. Some of these radicals convert to peroxy radicals by abstracting oxygen. The ESR spectrum of CMS is anisotropic and is thought to be due to the superposition of various component spectra. In order to analyze the ESR spectrum, computer simulations were also employed. ESR spectra are also recorded under different conditions like post-irradiation times, variable temperatures and saturation behavior in order to evaluate the stability of free radicals produced on irradiation. Thermal studies from DSC depict that for CMS the gelatization process was absconded at higher doses. Relative crystallinity was reduced significantly after irradiation from XRD Studies. FTIR studies also confirm the same aspect. From ESR studies, it was concluded that irradiated CMS could be a potential reference material in ESR dosimetry.

Keywords: gamma rays, free radicals, ESR simulations, gelatization

Procedia PDF Downloads 109

Authors: Zeite Shumneiyang Koireng

Abstract:

Liberation is the act of liberating or the state of being liberated. Indian philosophy, in general, understands liberation as moksa, which etymological is derived from the Sanskrit root muc+ktin meaning to loose, set free, to let go, discharge, release, liberate, deliver, etc. According to Indian schools of thought, moksa is the highest value on realizing which nothing remains to be realized. It is the cessation of birth and death, all kinds of pain and at the same time, it is the realization of one’s own self. Sankara’s Advaita philosophy is based on the following propositions: Brahman is the only Reality; the world has apparent reality, and the soul is not different from Brahman. According to Sankara, Brahman is the basis on which the world form appears; it is the sustaining ground of all various modification. It is the highest self and the self of all reveals himself by dividing himself [ as it was in the form of various objects] in multiple ways. The whole world is the manifestation of the Supreme Being. Brahman modifying itself into the Atman or internal self of all things is the world. Since Brahman is the Upadhana karana of the world, the sruti speaks of the world as the modification of Brahman into the Atman of the effect. Contemplation as the fulfillment of man finds a radical foundation in Aquinas teaching concerning the natural end or as he also referred to it, natural desire. The third book of the Summa Contra Gentiles begins the study of happiness with a consideration of natural desire. According to him, all creatures, even those devoid of understanding are ordered to God as an ultimate end. Intrinsically, a part of every nature is a tendency or inclination, originating in the natural form and tendency toward the end for which the possessor of nature exists. It is the study of the nature and finality of inclination that Aquinas establishes through an argument of induction man’s Contemplation of God as the fulfillment of his nature. The present paper is attempted to critically approach two important, seminal and originated thought, representing Indian and Western traditions which mark on the thinking of their respective times. Both these thoughts- Advaitic concept of Liberation in the Indian tradition and the concept of Contemplation in Thomas Aquinas’ Summa Contra Gentiles’- confront directly the question of the ultimate meaning of human existence. According to Sankara, it is knowledge and knowledge alone which is the means of moksa and the highest knowledge is moksa itself. Liberation in Sankara Vedanta is attained as a process of purification of self, which gradually and increasingly turns into purer and purer intentional construction. Man’s inner natural tendency for Aquinas is towards knowledge. The human subject is driven to know more and more about reality and in particular about the highest reality. Contemplation of this highest reality is fulfillment in the philosophy of Aquinas. Rather, Contemplation is the perfect activity in man’s present state of existence.

Keywords: liberation, Brahman, contemplation, fulfillment

Procedia PDF Downloads 197

Authors: L. L. Tundisi, A. Pessoa Jr., E. B. Tambourgi, E. Silveira, P. G. Mazzola

Abstract:

L-asparaginase (L-ASNase) is the gold standard treatment for acute lymphoblastic leukemia that mainly affects pediatric patients; treatment increases survival from 20% to 90%. The characterization of other L-Asparaginases, apart from the most used from Escherichia coli and Erwinia chrysanthemi, has been reported, but the choice of the most appropriate is still under debate. This choice should be based on its pharmacokinetics, immune hypersensitivity, doses, prices, pharmacodynamics. The main factors influencing the antileukemic activity of ASNase are enzymatic activity, Km, glutaminase activity, clearance of the enzyme and development of resistance. However, most of the commercialized enzyme present an intrinsic glutaminase activity, which is responsible for some side effects. In this study, glutaminase free asparaginase produced from Aspergillus oryzae was precipitated in different percentages of ethanol (0–80%), until optimum ethanol concentration of 60% (w/w) was found. Following, precipitation of crude L-ASNase was performed in a single step, using 60% (w/w) ethanol, under constant agitation and temperature. It presented activity of 135.45 U/mg and after gel filtration chromatography with Sephadex G-the enzymatic activity was 322.02 U/mg. The apparent molecular mass of the purified L-ASNase fraction was estimated by 10% SDS-PAGE. Proteins were stained with Coomassie Brilliant Blue R-250. The molar mass range was from 10 kDa to 250 kDa. L-ASNase from Aspergillus oryzae was characterized aiming possible therapeutic use. Four different buffers (phosphate-citrate buffer pH 2.6 to 5.8; phosphate buffer pH 5.8 to 7.4; Tris - HCl pH 7.4 to 9.0; and carbonate buffer pH 9.8 to 10.6) were used to measure the optimum pH for L-ASNase activity. The optimum temperature for enzyme activity was measured at optimal pH conditions (Tris-HCl and phosphate buffer, pH 7.4) at different temperatures ranging from 5 to 55°C. All activities were calculated by quantifying the free ammonia, using the Nessler reagent. The kinetic parameters calculation, e.g. Michaelis-Menten constant (Km), maximum velocity (Vmax) and Hills coefficient (n), were performed by incubating the enzyme in different concentrations of the substrate at optimum conditions of pH and fitted on Hill’s equation. This glutaminase free asparaginase showed a low Km (3.39 mM and 3.81 mM) and enzymatic activity of 135.45 U/mg after precipitation with ethanol. After gel filtration chromatography it rose to 322.02 U/mg. Optimum activity was found between pH 5.8 - 9.0, best activity results with phosphate buffer pH 7.4 and Tris-HCl pH 7.4 and showed activity from 5°C to 55°C. These results indicate that L-ASNase from A. oryzae has the potential for human use.

Keywords: biopharmaceuticals, bioprocessing, bioproducts, biotechnology, enzyme activity, ethanol precipitation

Procedia PDF Downloads 297

Authors: Anna Kesoyan

Abstract:

The present paper deals with the syntax-related problems of translation from English into Armenian. Although Syntax is a part of grammar, syntax-related problems of translation are studied separately during the process of translation. Translation from one language to another is widely accepted as a challenging problem. This becomes even more challenging when the source and target languages are widely different in structure and style, as is the case with English and Armenian. Syntax-related problems of translation from English into Armenian are mainly connected with the syntactical structures of these languages, and particularly, with the word order of the sentence. The word order of the sentence of the Armenian language, which is a synthetic language, is usually characterized as “rather free”, and the word order of the English language, which is an analytical language, is characterized “fixed”. The following research examines the main translation means, particularly, syntactical transformations as the translator has to take real steps while trying to solve certain syntax-related problems. Most of the means of translation are based on the transformation of grammatical components of the sentence, without changing the main information of the text. There are several transformations that occur during translation such as word order of the sentence, transformations of certain grammatical constructions like Infinitive participial construction, Nominative with the Infinitive and Elliptical constructions which have been covered in the following research.

Keywords: elliptical constructions, nominative with the infinitive constructions, fixed and free word order, syntactic structures

Procedia PDF Downloads 462

Authors: Nabeeha Hassan Abdel Jalil, Robert Barigye, Hamda Al Alawi, Afra Al Dhaheri, Fatma Graiban Al Muhairi, Maryam Al Khateri, Nouf Al Alalawi, Susan Olet, Khaja Mohteshamuddin, Ahmad Al Aiyan, Mohamed Elfatih Hamad

Abstract:

A serological survey was carried out to determine the seroprevalence of Brucella spp, Coxiella burnetii, Chlamydophila abortus, and Toxoplasma gondii in sheep and goat herds in the UAE. A total of 915 blood samples [n= 222, [sheep]; n= 215, [goats]) were collected from livestock farms in the Emirates of Abu Dhabi, Dubai, Sharjah and Ras Al-Khaimah (RAK). An additional 478 samples (n= 244, [sheep]; n= 234, (goats]) were collected from the Al Ain livestock central market and tested by indirect ELISA for pathogen-specific antibodies with the Brucella antibodies being further corroborated by the Rose-Bengal agglutination test. Seropositivity for the four pathogens is variably documented in sheep and goats from the study area. Respectively, the overall livestock farm prevalence rates for Brucella spp, C. burnetii, C. abortus, and T. gondii were 2.7%, 27.9%, 8.1%, and 16.7% for sheep, and 0.0%, 31.6%, 9.3%, and 5.1% for goats. Additionally, the seroprevalence rates Brucella spp, C. burnetii, C. abortus, and T. gondii in samples from the livestock market were 7.4%, 21.7%, 16.4%, and 7.0% for sheep, and 0.9%, 32.5%, 19.2%, and 11.1% for goats respectively. Overall, sheep had 12.59 more chances than goats of testing seropositive for Brucella spp (OR, 12.59 [95% CI 2.96-53.6]) but less likely to be positive for C. burnetii-antibodies (OR, 0.73 [95% CI 0.54-0.97]). Notably, the differences in the seroprevalence rates of C. abortus and T. gondii in sheep and goats were not statistically significant (p > 0.0500). The present data indicate that all the four study pathogens are present in sheep and goat populations in the UAE where coxiellosis is apparently the most seroprevalent followed by chlamydophilosis, toxoplasmosis, and brucellosis. While sheep from the livestock market were more likely than those from farms to be Brucella-seropositive than those, the overall exposure risk of C. burnetii appears to be greater for goats than sheep. As more animals from the livestock market were more likely to be seropositive to Chlamydophila spp, it is possible that under the UAE animal production conditions, at least, coxiellosis and chlamydophilosis are more likely to increase the culling rate of domesticated small ruminants than toxoplasmosis and brucellosis. While anecdotal reports have previously insinuated that brucellosis may be a significant animal health risk in the UAE, the present data suggest C. burnetii, C. abortus and T. gondii to be more significant pathogens of sheep and goats in the country. Despite this possibility, the extent to which these pathogens may nationally be contributing to reproductive failure in sheep and goat herds is not known and needs to be investigated. Potentially, these agents may also carry a potentially zoonotic risk that needs to be investigated in risk groups like farm workers, and slaughter house personnel. An ongoing study is evaluating the seroprevalence of bovine coxiellosis in the Emirate of Abu Dhabi and the data thereof will further elucidate on the broader epidemiological dynamics of the disease in the national herd.

Keywords: Brucella spp, Chlamydophila abortus, goat, sheep, Toxoplasma gondii, UAE

Procedia PDF Downloads 210

Authors: Nicole Anne Bass Monsanto

Abstract:

The objective of this study were to identify the numerous effective ways of capturing new members to participate in the brand hotel loyalty programs through the following objectives: (1) To differentiate the appropriate approach on selling the loyalty program to the different consumer market within their tier; (2) to evaluate the different behavioural degree of guests from different aspects of class and preference; (3) to compare the 3 hospitality tiers and the best tactic of approach according to their target market; (4) to assess the best practices suitable to the category of hotel in their specific tier. This study is a mixed methods research which involves both qualitative and quantitative. The qualitative research consisted of twelve management level respondents from 6 different hotels. These hotels were subdivided into 3 hotel tiers -- Luxury Hotels Upper Upscale Hotels and Mid-Scale Hotels—and the research studied two hotels of each hotel tier. Meanwhile, the quantitative research was conducted to further confirm and enhance the results by the means of guest post-stay surveys. Research findings of the qualitative research were as follows: (1) There are no differentiated best practices in capturing new enrolments based on the hotel tier. (2) There is only one key tool that determines the hotel loyalty program enrolment success. Meanwhile, the research findings of the quantitative research lead to the conclusion that most guests do not participate in the loyalty program was because they were not invited from the start.

Keywords: best practices, loyalty program, hospitality tier, enrollment success

Procedia PDF Downloads 282

Authors: Kwan Hee Han

Abstract:

In today’s business environments, frequent change of customer requirements is a tough challenge to manufacturing company. To cope with these challenges, a production planning and scheduling (PP&S) function might be established to provide accountability for both customer service and operational efficiency. Nowadays, many manufacturing firms have utilized PP&S software solutions to generate a realistic production plan and schedule to adapt to external changes efficiently. However, companies which consider the introduction of PP&S software solution, still have difficulties for selecting adequate solution to meet their specific needs. Since the task of PP&S is the one of major building blocks of SCM (Supply Chain Management) architecture, which deals with short term decision making in the production process of SCM, it is needed that the functionalities of PP&S should be analysed within the whole SCM process. The aim of this paper is to analyse the PP&S functionalities and its system architecture from the SCM perspective by using the criteria of level of planning hierarchy, major 4 SCM processes and problem-solving approaches, and finally propose a classification framework of PP&S solutions to facilitate the comparison among various commercial software solutions. By using proposed framework, several major PP&S solutions are classified and positioned according to their functional characteristics in this paper. By using this framework, practitioners who consider the introduction of computerized PP&S solutions in manufacturing firms can prepare evaluation and benchmarking sheets for selecting the most suitable solution with ease and in less time.

Keywords: production planning, production scheduling, supply chain management, the advanced planning system

Procedia PDF Downloads 200

Authors: André Luis Lima de Oliveira, Vera Lúcia Viana do Nascimento, Victória Maura Silva Bermudez, Mauricio Nunes Kleinberg, João Carlos da Costa Assunção, José Osvaldo Beserra Carioca

Abstract:

The objective of this study was to synthesize a triglyceride with high content of unsaturated fatty acids from salmon oil (Salmo salar L.) by esterification with glycerol catalyzed dealuminized zeolite. A kinetic study was conducted to determine the reaction order and the activation energy. A statistical study was conducted to determine optimal reaction conditions. Initially, the crude oil was refined salmon physically and chemically. The crude oil was hydrolyzed and unsaturated free fatty acids were separated by urea complexation method. An experimental project to verify the parameters (temperature, glycerin and catalyst) with the greatest impact on the reaction was developed. In experiments aliquots were taken at predetermined times to measure the amount of free fatty acids. Pareto, surface, contour and hub graphs were used to determine the factors that maximized the reaction. According to the graphs the best reaction conditions were: temperature 80 ° C, the proportion glycerine/oil 5: 1 and 1% of catalyst. The kinetic data showed that the system was compatible with a second-order reaction. After analyzing the rate constant versus temperature charts a value of 85.31 kJ/mol was obtained for the reaction activation energy.

Keywords: esterification, kinect, oil, salmon

Procedia PDF Downloads 523

Authors: Pawan Kumar Pant, Bhanu Gupta, S. R. Kale, S. V. Veeravalli

Abstract:

In many countries, buses are the principal means of transport, of which a majority are naturally ventilated with open windows. The design of this ventilation has little scientific basis and to address this problem a study has been undertaken involving both experiments and numerical simulations. The flow pattern inside and around of an open window bus with passengers has been investigated in detail. A full scale three-dimensional numerical simulation has been used for a) a bus with closed windows and b) with open windows. In either simulation, the bus had 58 seated passengers. The bus dimensions used were 2500 mm wide × 2500 mm high (exterior) × 10500 mm long and its speed was set at 40 km/h. In both cases, the flow separates at the top front edge forming a vortex and reattaches close to the mid-length. This attached flow separates once more as it leaves the bus. However, the strength and shape of the vortices at the top front and wake region is different for both cases. The streamline pattern around the bus is also different for the two cases. For the bus with open windows, the dominant airflow inside the bus is from the rear to the front of the bus and air velocity at the face level of the passengers was found to be 1/10th of the free stream velocity. These findings are in good agreement with flow visualization experiments performed in a water channel at 10 m/s, and with smoke/tuft visualizations in a wind tunnel with a free-stream velocity of approximately 40 km/h on a 1:25 scaled Perspex model.

Keywords: air flow, moving bus, open windows, vortex, wind tunnel

Procedia PDF Downloads 242

Authors: Nikhil Kewalkrishna Mehta

Abstract:

In the past researchers have questioned the effectiveness of ethics training in higher education. Also, there are observations that support the view that ethical behaviour (range of actions)/ethical decision making models used in the past make use of vignettes to explain ethical behaviour. The understanding remains in the perspective that these vignettes play a limited role in determining individual intentions and not actions. Some authors have also agreed that there are possibilities of differences in one’s intentions and actions. This paper makes an attempt to fill those gaps by evaluating real actions rather than intentions. In a way this study suggests the use of an experiential methodology to explore Berlo’s model of communication as an action along with orchestration of various principles. To this endeavor, an attempt was made to use conversational analysis in the pursuance of evaluating ethical decision making behaviour among students and middle level managers. The process was repeated six times with the set of an average of 15 participants. Similarities have been observed in the behaviour of students and middle level managers that calls for understanding that both the groups of individuals have no cognizance of their actual actions. The deliberations derived out of conversation were taken a step forward for meta-ethical evaluations to portray a clear picture of ethical behaviour among participants. This study provides insights for understanding demonstrated unconscious human behaviour which may fortuitously be termed both ethical and unethical.

Keywords: ethical behaviour, unethical behavior, ethical decision making, intentions and actions, conversational analysis, human actions, sensitivity

Procedia PDF Downloads 256

Authors: Errol J. Haarhoff

Abstract:

Housing in New Zealand, particularly in Auckland, is dominated by low-density suburbs. Over the past 20 years, housing intensification policies aimed to curb outward low-density sprawl and to concentrate development within an urban boundary have been implemented. This requires the greater deployment of attached housing typologies such apartments, duplexes and terrace housing. There has been strong market response and uptake for higher density development, with the number of building approvals received by the Auckland Council for attached housing units increasing from around 15 percent in 2012/13, to 54 percent in 2017/18. A key question about intensification and strong market uptake in a city where lower density has been the norm, is whether higher density neighborhoods will deliver necessary housing satisfaction? This paper reports on the findings to a questionnaire survey and focus group discussions probing resident perceptions to living at higher density in relation to their dwellings, the neighborhood and their sense of community. The findings reveal strong overall housing satisfaction, including key aspects such as privacy, noise and living in close proximity to neighbors. However, when residents are differentiated in terms of length of tenure, age or whether they are bringing up children, greater variation in satisfaction is detected. For example, residents in the 65-plus age cohort express much higher levels of satisfaction, when compared to the 18-44 year cohorts who more likely to be binging up children. This suggests greater design sensitivity to better accommodate the range of household types. Those who have live in the area longer express greater satisfaction than those with shorter duration, indicating time for adaption to living at higher density. Findings strongly underpin the instrumental role that the public amenities play in overall housing satisfaction and the emergence of a strong sense of community. This underscores the necessity for appropriate investment in the public amenities often lacking in market-led higher density housing development. We conclude with an evaluation of the PPP model, and its part in delivering housing satisfaction. The findings should be of interest to cities, housing developers and built environment professional pursuing housing policies promoting intensification and higher density.

Keywords: medium density, housing satisfaction, neighborhoods, sense of community

Procedia PDF Downloads 140

Authors: Yun-Ju Chiu, Feng-Yi Chen

Abstract:

Kinematics is the beginning to learn mechanics in physics course. The concept of acceleration plays an important role in learning kinematics. Teachers usually instruct the conception through the formulas and graphs of kinematics and the well-known law F = ma. However, over the past few decades, a lot of researchers reveal numerous students’ difficulties in learning acceleration. One of these difficulties is that students frequently confuse acceleration with velocity and force. Why is the concept of acceleration so difficult to learn? The aim of this study is to understand the conceptual evolution of acceleration through the historical textual analysis. Text analysis and one-to-one interviews with high school students and teachers are used in this study. This study finds the history of science constructed from textbooks is usually quite different from the real evolution of history. For example, most teachers and students believe that the best-known law F = ma was written down by Newton. The expression of the second law is not F = ma in Newton’s best-known book Principia in 1687. Even after more than one hundred years, a famous Cambridge textbook titled An Elementary Treatise on Mechanics by Whewell of Trinity College did not express this law as F = ma. At that time of Whewell, the early mid-nineteenth century Britain, the concept of acceleration was not only ambiguous but also confused with the concept of force. The process of learning the concept of acceleration is analogous to its conceptual development in history. The study from the perspective of historical textual analysis will promote the understanding of the concept learning difficulties, the development of professional physics teaching, and the improvement of the context of physics textbooks.

Keywords: acceleration, textbooks, mechanics, misconception, history of science

Procedia PDF Downloads 255

Authors: A. Chillali, M. Sahmoudi

Abstract:

In this paper we will give a method for encoding the elements of the ring of integers of sextic extension, namely L = Q(a,b) which is a rational quadratic over cubic field K =Q(a) where a^{2} is a rational square free integer and b is a root of irreducible polynomiale of degree 3.

Keywords: coding, integral bases, sextic, quadratic

Procedia PDF Downloads 300

Authors: Rawaz A. Ahmed, Katherine Huddersman

Abstract:

High-lipid Fats, Oils and Grease (FOGs) from wastewater are underutilized despite their potential for conversion into valuable fuels; this work describes a surface-functionalized fibrous Polyacrylonitrile (PAN) mesh as a novel heterogeneous acid catalyst for the conversion of free fatty acids (FFAs), via a catalytic esterification process into biodiesel. The esterification of stearic acid (SA) with methanol was studied over an acidified PAN solid acid catalyst. Disappearance of the carboxylic acid (C=O) peak of the stearic acid at 1696 cm-1 in the FT-IR spectrum with the associated appearance of the ester (C=O) peak at 1739 cm-1 confirmed the production of the methyl stearate. This was further supported by 1H NMR spectra with the appearance of the ester (-CH₂OCOR) at 3.60-3.70 ppm. Quantitate analysis by GC-FID showed the catalyst has excellent activity with >95 % yield of methyl stearate (MS) at 90 ◦C after 3 h and a molar ratio of methanol to SA of 35:1. To date, to our best knowledge, there is no research in the literature on the esterification reaction for biodiesel production using a modified PAN mesh as a catalyst. It is noteworthy that this acidified PAN mesh catalyst showed comparable activity to conventional Brönsted acids, namely H₂SO₄ and p-TSA, as well as exhibiting higher activity than various other heterogeneous catalysts such as zeolites, ion-exchange resins and acid clay.

Keywords: fats oil and greases (FOGs), free fatty acid, esterification reaction, methyl ester, PAN

Procedia PDF Downloads 248

Authors: S. Tavuyanago

Abstract:

Cartels within the international competition law framework have been dubbed the most egregious of competition law violations; this is because they entail a concerted effort by two or more competitor firms to knowingly ‘rob’ consumers of their welfare through their cooperation instead of competition. The net effect of cartel conduct is that the market is distorted as the colluding firms gain enough market power to constrain the supply of goods or services, ultimately driving up prices. As a result, consumers end up paying inflated prices for goods and services, which eventually affects their welfare. It is against this backdrop that competition authorities worldwide have mounted a robust fight against the proliferation of cartels. In South Africa, the fight against cartels saw an amendment to the Competition Act to allow for criminal prosecution of individuals who cause their firms to take part in cartels. The Competition Amendment Act 1 of 2009 introduced section 73A into the principal Competition Act, making it a criminal offence to engage in cartel conduct. This paper assesses the rationale for criminalisation of cartel conduct, discusses the challenges or potential challenges associated with criminalisation, and provides an evaluation of the efficacy of criminalisation of cartel conduct. It questions whether criminal sanctions for cartel conduct as a competition enforcement tool aimed at deterring such conduct are generally effective and whether they have been effective in South Africa specifically. It concludes by offering recommendations on how to effectively root out cartels.

Keywords: cartels, criminalisation, competition, deterrence, South Africa

Procedia PDF Downloads 103

Authors: Fatima Babar, Majid I. Khan, Malik Najmus Saqib, Muhammad Tahir

Abstract:

This article provides range based improvements over a well-known single-hop range free localization scheme, Approximate Point in Triangulation (APIT) by proposing an energy efficient Barycentric coordinate based Point-In-Triangulation (PIT) test along with PIT based trilateration. These improvements result in energy efficiency, reduced localization error and improved localization coverage compared to APIT and its variants. Moreover, we propose to embed Received signal strength indication (RSSI) based distance estimation in DV-Hop which is a multi-hop localization scheme. The proposed localization algorithm achieves energy efficiency and reduced localization error compared to DV-Hop and its available improvements. Furthermore, a hybrid multi-hop localization scheme is also proposed that utilize Barycentric coordinate based PIT test and both range based (Received signal strength indicator) and range free (hop count) techniques for distance estimation. Our experimental results provide evidence that proposed hybrid multi-hop localization scheme results in two to five times reduction in the localization error compare to DV-Hop and its variants, at reduced energy requirements.

Keywords: Localization, Trilateration, Triangulation, Wireless Sensor Networks

Procedia PDF Downloads 473

Authors: Sohanur Rahman, Elisabeth Sinnewe, Larelle (Ellie) Chapple, Sarah Osborne

Abstract:

Greater political attention to global climate change exposes firms to a higher level of political uncertainty, which can lead to adverse capital market consequences. However, a higher level of discourse on environment-specific political risk (EPR) between management and investors can mitigate information asymmetry, followed by less stock price crash risk. This study examines whether EPR discourse in discourse in the earnings conference calls (ECC) reduces firm-level stock price crash risk in the US market. This research also explores if adverse disclosures via media channels further moderates the association between EPR on crash risk. Employing a dataset of 28,933 firm-year observations from 2002 to 2020, the empirical analysis reveals that EPR discourse in ECC reduces future stock price crash risk. However, adverse disclosures via media channels can offset the favourable effect of EPR discourse on crash risk. The results are robust to the potential endogeneity concern in a quasi-natural experiment setting.

Keywords: earnings conference calls, environment, environment-specific political risk discourse, environmental disclosures, information asymmetry, reputation risk, stock price crash risk

Procedia PDF Downloads 147

Authors: Satyam Raikwar, Thomas Herlitzius, Jens Fehrmann

Abstract:

In recent years, the autonomous navigation of orchard and field robots is an emerging technology of the mobile robotics in agriculture. One of the core aspects of autonomous navigation builds upon path planning, which is still a crucial issue. Generally, for simple representation, the path planning for a mobile robot is performed in a two-dimensional space, which creates a path between the start and goal point. This paper presents the automatic path planning approach for robots used in orchards and vineyards using occupancy grid maps with field consideration. The orchards and vineyards are usually structured environment and their topology is assumed to be constant over time; therefore, in this approach, an RGB image of a field is used as a working environment. These images undergone different image processing operations and then discretized into two-dimensional grid matrices. The individual grid or cell of these grid matrices represents the occupancy of the space, whether it is free or occupied. The grid matrix represents the robot workspace for motion and path planning. After the grid matrix is described, a probabilistic roadmap (PRM) path algorithm is used to create the obstacle-free path over these occupancy grids. The path created by this method was successfully verified in the test area. Furthermore, this approach is used in the navigation of the orchard robot.

Keywords: orchard robots, automatic path planning, occupancy grid, probabilistic roadmap

Procedia PDF Downloads 160

Authors: Hanen Khanchel, Karim Ben Kahla

Abstract:

Pharmaceutical companies are facing competition. Indeed, the price differences between competing products can be such that it becomes difficult to compensate them by differences in value added. The conditions of competition are no longer homogeneous for the players involved. The price of a product is a given that puts a company and its customer face to face. However, price fixing obliges the company to consider internal factors relating to production costs and external factors such as customer attitudes, the existence of regulations and the structure of the market on which the firm evolved. In setting the selling price, the company must first take into account internal factors relating to its costs: costs of production fall into two categories, fixed costs and variable costs that depend on the quantities produced. The company cannot consider selling below what it costs the product. It, therefore, calculates the unit cost of production to which it adds the unit cost of distribution, enabling it to know the unit cost of production of the product. The company adds its margin and thus determines its selling price. The margin is used to remunerate the capital providers and to finance the activity of the company and its investments. Production costs are related to the quantities produced: large-scale production generally reduces the unit cost of production, which is an asset for companies with mass production markets. This shows that small and medium-sized companies with limited market segments need to make greater efforts to ensure their profit margins. As a result, and faced with high and low market prices for raw materials and increasing staff costs, the company must seek to optimize its production time in order to reduce loads and eliminate waste. Then, the customer pays only value added. Thus, and based on this principle we decided to create a project that deals with the problem of waste in our company, and having as objectives the reduction of production costs and improvement of performance indicators. This paper presents the implementation of the Value Stream Mapping (VSM) project in a pharmaceutical company. It is structured as follows: 1) determination of the family of products, 2) drawing of the current state, 3) drawing of the future state, 4) action plan and implementation.

Keywords: VSM, waste, production time, kaizen, cartography, improvement

Procedia PDF Downloads 155