Search results for: industrial manufacturing sector
5202 Collaborative Economy in Developing Countries: Perspectives from the Philippines
Authors: Ivy Jessen Galvan
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Over the past decade, a phenomenon has emerged at the frontier of the digital economy: a wave of ‘disruptive’ technologies that offer digital solutions to variety of everyday problems, challenging the way traditional industries operate. Most of these disruptive technologies are applications ('apps') that rely on the Internet to connect people to people for sharing, selling, renting, or lending, creating a unique economic model wherein users provide for other users’ demand – called 'collaborative economy.' Although collaborative economy is spreading in every part of the world, there may be different ways in which this phenomenon is unfolding throughout the developing countries. In this study, the characteristics of collaborative economy in the Philippines are highlighted and compared from observations in the developed world. The paper looks at two leading collaborative economy ventures in the Philippines – Grab and Shopee – probing into how these smartphone-based platforms place technology into the 'micro-frictions' of the Philippine developing context. Using framing analysis on interviews conducted among Grab and Shopee users in Metro Manila, three frames have been identified: 1) metropolitan solution; 2) financial inclusion and; 3) formalization of labor. This research contextualizes the Fourth Industrial Revolution in ASEAN by analyzing the effect of a digital economy in everyday life.Keywords: ASEAN Unicorns, collaborative economy, developing countries, fourth industrial revolution
Procedia PDF Downloads 1165201 A Comparative Analysis of Clustering Approaches for Understanding Patterns in Health Insurance Uptake: Evidence from Sociodemographic Kenyan Data
Authors: Nelson Kimeli Kemboi Yego, Juma Kasozi, Joseph Nkruzinza, Francis Kipkogei
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The study investigated the low uptake of health insurance in Kenya despite efforts to achieve universal health coverage through various health insurance schemes. Unsupervised machine learning techniques were employed to identify patterns in health insurance uptake based on sociodemographic factors among Kenyan households. The aim was to identify key demographic groups that are underinsured and to provide insights for the development of effective policies and outreach programs. Using the 2021 FinAccess Survey, the study clustered Kenyan households based on their health insurance uptake and sociodemographic features to reveal patterns in health insurance uptake across the country. The effectiveness of k-prototypes clustering, hierarchical clustering, and agglomerative hierarchical clustering in clustering based on sociodemographic factors was compared. The k-prototypes approach was found to be the most effective at uncovering distinct and well-separated clusters in the Kenyan sociodemographic data related to health insurance uptake based on silhouette, Calinski-Harabasz, Davies-Bouldin, and Rand indices. Hence, it was utilized in uncovering the patterns in uptake. The results of the analysis indicate that inclusivity in health insurance is greatly related to affordability. The findings suggest that targeted policy interventions and outreach programs are necessary to increase health insurance uptake in Kenya, with the ultimate goal of achieving universal health coverage. The study provides important insights for policymakers and stakeholders in the health insurance sector to address the low uptake of health insurance and to ensure that healthcare services are accessible and affordable to all Kenyans, regardless of their socio-demographic status. The study highlights the potential of unsupervised machine learning techniques to provide insights into complex health policy issues and improve decision-making in the health sector.Keywords: health insurance, unsupervised learning, clustering algorithms, machine learning
Procedia PDF Downloads 1385200 Alternative Seed System for Enhanced Availability of Quality Seeds and Seed/Varietal Replacement Rate - An Experience
Authors: Basave Gowda, Lokesh K., Prasanth S. M., Bellad S. B., Radha J., Lokesh G. Y., Patil S. B., Vijayakumar D. K., Ganigar B. S., Rakesh C. Mathad
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Quality seed plays an important role in enhancing the crop productivity. It was reported and confirmed by large scale verification research trials that by use of quality seeds alone, the crop yield can be enhanced by 15 to 20 per cent. At present, the quality seed production and distribution through organised sectors comprising both public and private seed sector was only 20-25% of the requirement and the remaining quantity is met through unorganised sector which include the farmer to farmers saved seeds. With an objective of developing an alternative seed system, the University of Agricultural Sciences, Raichur in Karnataka state has implemented Seed Village Programme in more than 100 villages covering around 5000 farmers every year since 2009-10 and in the selected seed villages, a group of 50-150 farmers were supplied the foundation seeds of new varieties to an extent of 0.4 ha at 50 % subsidy. And two to three training programmes were conducted in the targeted villages for quality seed production and the seed produced in the target group was processed locally in the university seed processing units and arranged for distribution in the local villages by the seed growers themselves. By this new innovative and modified seed system, the university can able to replace old varieties of pigeon pea and green gram by producing 1482, 2978, 2729, 2560, and 4581 tonnes of seeds of new varieties on large scale under farmers and scientists participatory seed village programmes respectively during 2009-10, 2010-11, 2011-12, 2012-13 and 2013-14. From this new alternate model of seed system, there should be large scale promotion of regional seed system involving farmers, NGO and voluntary organisation for quick and effective replacement of old, low yielding, disease susceptible varieties with new high yielding, disease resistant for enhanced food production and food security.Keywords: seed system, seed village, seed replacement, varietal replacement
Procedia PDF Downloads 4315199 Comparative Research on Culture-Led Regeneration across Cities in China
Authors: Fang Bin Guo, Emma Roberts, Haibin Du, Yonggang Wang, Yu Chen, Xiuli Ge
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This paper explores the findings so far from a major externally-funded project which operates internationally in China, Germany and the UK. The research team is working in the context of the redevelopment of post-industrial sites in China and how these might be platforms for creative enterprises and thereby, the economy and welfare to flourish. Results from the project are anticipated to inform urban design policies in China and possibly farther afield. The research has utilised ethnographic studies and participatory design methods to investigate alternative strategies for sustainable urban renewal of China’s post-industrial areas. Additionally, it has undertaken comparative studies of successful examples of European and Chinese urban regeneration cases. The international cross-disciplinary team has been seeking different opportunities for developing relevant creative industries whilst retaining cultural and industrial heritage. This paper will explore the research conducted so far by the team and offer initial findings. Findings point out the development challenges of cities respecting the protection of local culture/heritages, history of the industries and transformation of the local economies. The preliminary results and pilot analysis of the current research have demonstrated that local government policyholders, business investors/developers and creative industry practitioners are the three major stakeholders that will impact city revitalisations. These groups are expected to work together with asynchronous vision in order for redevelopments to be successful. Meanwhile, local geography, history, culture, politics, economy and ethnography have been identified as important factors that impact on project design and development during urban transformations. Data is being processed from the team’s research conducted across the focal Western and Chinese cities. This has provided theoretical guidance and practical support to the development of significant experimental projects. Many were re-examined with a more international perspective, and adjustments have been based on the conclusions of the research. The observations and research are already generating design solutions in terms of ascertaining essential site components, layouts, visual design and practical facilities for regenerated sites. Two significant projects undertaken by this project team have been nominated by the central Chinese government as the most successful exemplars. They have been listed as outstanding national industry heritage projects; in particular, one of them was nominated by ArchDaily as Building of the Year 2019, and so this project outcome has made a substantial contribution to research and innovation. In summary, this paper will outline the funded project, discuss the work conducted so far, and pinpoint the initial discoveries. It will detail the future steps and indicate how these will impact on national and local governments in China, designers, local citizens and building users.Keywords: cultural & industrial heritages, ethnographic research, participatory design, regeneration of post-industrial sites, sustainable
Procedia PDF Downloads 1475198 Global Solar Irradiance: Data Imputation to Analyze Complementarity Studies of Energy in Colombia
Authors: Jeisson A. Estrella, Laura C. Herrera, Cristian A. Arenas
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The Colombian electricity sector has been transforming through the insertion of new energy sources to generate electricity, one of them being solar energy, which is being promoted by companies interested in photovoltaic technology. The study of this technology is important for electricity generation in general and for the planning of the sector from the perspective of energy complementarity. Precisely in this last approach is where the project is located; we are interested in answering the concerns about the reliability of the electrical system when climatic phenomena such as El Niño occur or in defining whether it is viable to replace or expand thermoelectric plants. Reliability of the electrical system when climatic phenomena such as El Niño occur, or to define whether it is viable to replace or expand thermoelectric plants with renewable electricity generation systems. In this regard, some difficulties related to the basic information on renewable energy sources from measured data must first be solved, as these come from automatic weather stations. Basic information on renewable energy sources from measured data, since these come from automatic weather stations administered by the Institute of Hydrology, Meteorology and Environmental Studies (IDEAM) and, in the range of study (2005-2019), have significant amounts of missing data. For this reason, the overall objective of the project is to complete the global solar irradiance datasets to obtain time series to develop energy complementarity analyses in a subsequent project. Global solar irradiance data sets to obtain time series that will allow the elaboration of energy complementarity analyses in the following project. The filling of the databases will be done through numerical and statistical methods, which are basic techniques for undergraduate students in technical areas who are starting out as researchers technical areas who are starting out as researchers.Keywords: time series, global solar irradiance, imputed data, energy complementarity
Procedia PDF Downloads 715197 An Investigation on MgAl₂O₄ Based Mould System in Investment Casting Titanium Alloy
Authors: Chen Yuan, Nick Green, Stuart Blackburn
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The investment casting process offers a great freedom of design combined with the economic advantage of near net shape manufacturing. It is widely used for the production of high value precision cast parts in particularly in the aerospace sector. Various combinations of materials have been used to produce the ceramic moulds, but most investment foundries use a silica based binder system in conjunction with fused silica, zircon, and alumino-silicate refractories as both filler and coarse stucco materials. However, in the context of advancing alloy technologies, silica based systems are struggling to keep pace, especially when net-shape casting titanium alloys. Study has shown that the casting of titanium based alloys presents considerable problems, including the extensive interactions between the metal and refractory, and the majority of metal-mould interaction is due to reduction of silica, present as binder and filler phases, by titanium in the molten state. Cleaner, more refractory systems are being devised to accommodate these changes. Although yttria has excellent chemical inertness to titanium alloy, it is not very practical in a production environment combining high material cost, short slurry life, and poor sintering properties. There needs to be a cost effective solution to these issues. With limited options for using pure oxides, in this work, a silica-free magnesia spinel MgAl₂O₄ was used as a primary coat filler and alumina as a binder material to produce facecoat in the investment casting mould. A comparison system was also studied with a fraction of the rare earth oxide Y₂O₃ adding into the filler to increase the inertness. The stability of the MgAl₂O₄/Al₂O₃ and MgAl₂O₄/Y₂O₃/Al₂O₃ slurries was assessed by tests, including pH, viscosity, zeta-potential and plate weight measurement, and mould properties such as friability were also measured. The interaction between the face coat and titanium alloy was studied by both a flash re-melting technique and a centrifugal investment casting method. The interaction products between metal and mould were characterized using x-ray diffraction (XRD), scanning electron microscopy (SEM) and Energy Dispersive X-Ray Spectroscopy (EDS). The depth of the oxygen hardened layer was evaluated by micro hardness measurement. Results reveal that introducing a fraction of Y₂O₃ into magnesia spinel can significantly increase the slurry life and reduce the thickness of hardened layer during centrifugal casting.Keywords: titanium alloy, mould, MgAl₂O₄, Y₂O₃, interaction, investment casting
Procedia PDF Downloads 1135196 Environmental Impact of Autoclaved Aerated Concrete in Modern Construction: A Case Study from the New Egyptian Administrative Capital
Authors: Esraa A. Khalil, Mohamed N. AbouZeid
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Building materials selection is critical for the sustainability of any project. The choice of building materials has a huge impact on the built environment and cost of projects. Building materials emit huge amount of carbon dioxide (CO2) due to the use of cement as a basic component in the manufacturing process and as a binder, which harms our environment. Energy consumption from buildings has increased in the last few years; a huge amount of energy is being wasted from using unsustainable building and finishing materials, as well as from the process of heating and cooling of buildings. In addition, the construction sector in Egypt is taking a good portion of the economy; however, there is a lack of awareness of buildings environmental impacts on the built environment. Using advanced building materials and different wall systems can help in reducing heat consumption, the project’s initial and long-term costs, and minimizing the environmental impacts. Red Bricks is one of the materials that are being used widely in Egypt. There are many other types of bricks such as Autoclaved Aerated Concrete (AAC); however, the use of Red Bricks is dominating the construction industry due to its affordability and availability. This research focuses on the New Egyptian Administrative Capital as a case study to investigate the potential of the influence of using different wall systems such as AAC on the project’s cost and the environment. The aim of this research is to conduct a comparative analysis between the traditional and most commonly used bricks in Egypt, which is Red Bricks, and AAC wall systems. Through an economic and environmental study, the difference between the two wall systems will be justified to encourage the utilization of uncommon techniques in the construction industry to build more affordable, energy efficient and sustainable buildings. The significance of this research is to show the potential of using AAC in the construction industry and its positive influences. The study analyzes the factors associated with choosing suitable building materials for different projects according to the need and criteria of each project and its nature without harming the environment and wasting materials that could be saved or recycled. The New Egyptian Administrative Capital is considered as the country’s new heart, where ideas regarding energy savings and environmental benefits are taken into consideration. Meaning that, Egypt is taking good steps to move towards more sustainable construction. According to the analysis and site visits, there is a potential in reducing the initial costs of buildings by 12.1% and saving energy by using different techniques up to 25%. Interviews with the mega structures project engineers and managers reveal that they are more open to introducing sustainable building materials that will help in saving the environment and moving towards green construction as well as to studying more effective techniques for energy conservation.Keywords: AAC blocks, building material, environmental impact, modern construction, new Egyptian administrative capital
Procedia PDF Downloads 1215195 Simplifying Health Risk Assessment (HRA) and Its Operationalisation for Turnaround Activities
Authors: Thirumila Muthukamaru
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The objective of a Health Risk Assessment (HRA) is to achieve a quality evaluation of risk assessments in a timely manner where adequate controls can be in place to protect workers health, especially during turnarounds where the exposure to health hazards is expected to rise during the performance of the many activities that take place, exposing workers to health risk. HRA development requires a competent team comprising experienced subject matter experts in the field, such as Industrial hygienists, Occupational Health Doctors, Turnaround Coordinators, Operation / Maintenance personnel, etc. The conventional way of conducting HRA is not only tedious and time-consuming but also less appreciated when it is not interpreted correctly, which may contribute to inadequate operationalization of it. Simplification can be the essence of timely intervention in managing health risks. This paper is intended as a sharing of the approach taken to simplify the methodology of developing the HRA report and operationalizing it. The approach includes developing a Generic HRA for turnaround activities to be used as a reference document and the empowerment of identified personnel through upskilling sessions to take up the role of facilitating HRA sessions. This empowerment is one of the key approaches towards the successful translation of the HRA into specific turnaround Job Hazard Analysis (JHA) that embed it in the Permit to Work (PTW) process. The approach used here increases awareness and compliance on HRA for turnaround activities through better interpretation and operationalization of the HRA report, adding value to the risk assessment for turnaround activities.Keywords: industrial hygiene, health risk assessment, HRA, risk assessment
Procedia PDF Downloads 475194 Government of Ghana’s Budget: An Assessment of Its Compliance with Fundamental Budgeting Principles
Authors: Mohammed Sani Abdulai
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Public sector budgeting, all over the world, is underpinned by some universally accepted principles of sound budget management such as budget unity, universality, annuality, and a balanced budget. These traditional principles, though fundamental, had, in recent years, been augmented by the more modern principles of budgeting within fiscal objective, alignment with medium-term strategic plans as well as the observance of such related concepts as transparency, openness and accessibility. In this paper, we have endeavored to shed light, from literature and practice, on the meaning and purposes of such fundamental budgeting principles. We have also assessed the extent to which the Government of Ghana’s budget complies with the four traditional principles of budget unity, universality, annuality, and a balanced budget and the three out of the ten modern principles of budgetary governance of Organisation for Economic Co-operation and Development (OECD). We did so by using a qualitative method of review and analysis of existing documents and the performance assessment reports on Ghana’s Public Financial Management (PFM) measured using such frameworks as the Public Expenditure and Financial Accountability (PEFA), the Open Budget Survey (OBS) and its Index (OBI), the reports and action plans of Open Government Partnership (OGP) and the Global Initiative for Fiscal Transparency (GIFT). Other performance assessment reports that were relied on included, but not limited to, the Joint Evaluation Report of PFM in Ghana, 2001-2010, and the Joint Evaluation of Budget Support to Ghana, 2005-2015. We have, through this paper, brought to the fore the lessons that could be learned on how those budgetary principles undergird the Government of Ghana’s budget formulation, execution, accounting, control, and oversight. These lessons include, but are not limited to, the need for both scholars and practitioners in the PFM space to be aware of the impact of those principles on public sector budgeting.Keywords: annulaity, balanced budget, budget unity, budgetary principles, OECD’s principles on budgetary governance, open budget index, public expenditure and financial accountability, universality
Procedia PDF Downloads 1995193 Study of Coconut and Babassu Oils with High Acid Content and the Fatty Acids (C6 to C16) Obtained from These Oils
Authors: Flávio A. F. da Ponte, Jackson Q. Malveira, José A. S. Ramos Filho, Monica C. G. Albuquerque
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The vegetable oils have many applications in industrial processes and due to this potential have constantly increased the demand for the use of low-quality oils, mainly in the production of biofuel. This work aims to the physicochemical evaluation of babassu oil (Orbinya speciosa) and coconut (Cocos nucifera) of low quality, as well the obtaining the free fatty acids 6 to 16 carbon atoms, with intention to be used as raw material for the biofuels production. The babassu oil and coconut low quality, as well the fatty acids obtained from these oils were characterized as their physicochemical properties and fatty acid composition (using gas chromatography coupled to mass). The NMR technique was used to assess the efficiency of fractional distillation under reduced pressure to obtain the intermediate carbonic chain fatty acids. The results showed that the bad quality in terms of physicochemical evaluation of babassu oils and coconut oils interfere directly in industrial application. However the fatty acids of intermediate carbonic chain (C6 to C16) may be used in cosmetic, pharmaceutical and particularly as the biokerosene fuel. The chromatographic analysis showed that the babassu oil and coconut oil have as major fatty acids are lauric acid (57.5 and 38.6%, respectively), whereas the top phase from distillation of coconut oil showed caprylic acid (39.1%) and major fatty acid.Keywords: babassu oil (Orbinya speciosa), coconut oil (Cocos nucifera), fatty acids, biomass
Procedia PDF Downloads 3215192 Current-Based Multiple Faults Detection in Electrical Motors
Authors: Moftah BinHasan
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Induction motors (IM) are vital components in industrial processes whose failure may yield to an unexpected interruption at the industrial plant, with highly incurred consequences in costs, product quality, and safety. Among different detection approaches proposed in the literature, that based on stator current monitoring termed as Motor Current Signature Analysis (MCSA) is the most preferred. MCSA is advantageous due to its non-invasive properties. The popularity of motor current signature analysis comes from being that the current consists of motor harmonics, around the supply frequency, which show some properties related to different situations of healthy and faulty conditions. One of the techniques used with machine line current resorts to spectrum analysis. Besides discussing the fundamentals of MCSA and its applications in the condition monitoring arena, this paper shows a summary of the most frequent faults and their consequence signatures on the stator current spectrum of an induction motor. In addition, this article presents different case studies of induction motor fault diagnosis. These faults were seeded in the machine which was run for more than an hour for each test before the results were recorded for the faulty situations. These results are then compared with those for the healthy cases that were recorded earlier.Keywords: induction motor, condition monitoring, fault diagnosis, MCSA, rotor, stator, bearing, eccentricity
Procedia PDF Downloads 4595191 Point-Mutation in a Rationally Engineered Esterase Inverts its Enantioselectivity
Authors: Yasser Gaber, Mohamed Ismail, Serena Bisagni, Mohamad Takwa, Rajni Hatti-Kaul
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Enzymes are safe and selective catalysts. They skillfully catalyze chemical reactions; however, the native form is not usually suitable for industrial applications. Enzymes are therefore engineered by several techniques to meet the required catalytic task. Clopidogrel is recorded among the five best selling pharmaceutical in 2010 under the brand name Plavix. The commonly used route for production of the drug on an industrial scale is the synthesis of the racemic mixture followed by diastereomeric resolution to obtain the pure S isomer. The process consumes a lot of solvents and chemicals. We have evaluated a biocatalytic cleaner approach for asymmetric hydrolysis of racemic clopidogrel. Initial screening of a selected number of hydrolases showed only one enzyme EST to exhibit activity and selectivity towards the desired stereoisomer. As the crude EST is a mixture of several isoenzymes, a homology model of EST-1 was used in molecular dynamic simulations to study the interaction of the enzyme with R and S isomers of clopidogrel. Analysis of the geometric hindrances of the tetrahedral intermediates revealed a potential site for mutagenesis in order to improve the activity and the selectivity. Single point mutation showed dramatic increase in activity and inversion of the enantioselectivity (400 fold change in E value).Keywords: biocatalysis, biotechnology, enzyme, protein engineering, molecular modeling
Procedia PDF Downloads 4485190 Comparative Public Administration: A Case Study of ASEAN Member States
Authors: Nattapol Pourprasert
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This research is to study qualitative research having two objectives: 1. to study comparison of private sector of government to compare with ASEAN Member States, 2. to study trend of private enterprise administration of ASEAN Member States. The results are: (1) Thai people focus on personal resource administrative system, (2) Indonesia focuses on official system by good administrative principles, (3) Malaysia focuses on technology development to service people, (4) Philippines focuses on operation system development, (5) Singapore focuses on public service development, (6) Brunei Darussalam focuses on equality in government service of people, (7) Vietnam focuses on creating government labor base and develop testing and administration of operation test, (8) Myanmar focuses on human resources development, (9) Laos focuses on form of local administration, (10) Cambodia focuses on policy revolution in personal resources. The result of the second part of the study are: (1) Thailand created government personnel to be power under qualitative official structural event, (2) Indonesia has Bureaucracy Reform Roadmap of Bureaucracy Reform and National Development Plan Medium Term, (3) Malaysia has database for people service, (4) Philippines follows up control of units operation by government policy, (5) Singapore created reliability, participation of people to set government policy people’s demand, (6) Brunei Darussalam has social welfare to people, (7) Vietnam revolved testing system and administration including manpower base construction of government effectively, (8) Myanmar creates high rank administrators to develop country, (9) Laos distributes power to locality, and (10) Cambodia revolved personnel resource policy.Keywords: public administration development, ASEAN member states, private sector, government
Procedia PDF Downloads 2525189 Familiarity with Engineering Project Management And Their Duties In Projects
Authors: Mokhtar Nikgoo
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Today's industrial world has undergone tremendous changes in certain periods. These changes are called environmental changes. And they have a direct impact on organizations and bodies. Therefore, the importance of knowing these changes is clear. This importance has caused the manufacturing organizations to move towards multiple products and constantly change and expand their system. This research tries to show how the organization moves in this category by defining the basic steps of implementing a project. One of the most important features of a hard-to-order production organization is the definition of different production projects from different customers. Therefore, the lack of sufficient understanding of the type of work causes the project to be defined for the organization in question, and the managers of the organization (in every organizational level) are constantly involved with different projects. In the implementation of the production project of the aforementioned organizations, directing the facilities and people of the organization towards the implementation of the project is of particular importance. Therefore, it is felt necessary to define the project manager and his basic duties. Considering the importance of this topic, the project chapter deals with project management and its importance and examines all the different issues in that category from the perspective of implementation. A project includes certain activities of the organization that require the use of different resources and all the activities of the organization in order to implement the project with defined facilities and at the designated times. Project management is planning, organizing and controlling the organization's resources for a short-term goal that has been created for short-term and medium-term goals and objectives. Project management has the important task of centering and integrating (coordinating) task and line managers. In other words, project management requires having a strong and appropriate relationship with the internal people of the system to carry out the assigned activities and must have a general and technical knowledge related to various activities in the project environment. It seems that everything with project management in It is communication. One of the characteristics of production organizations under the order is the relationship between the customer (customers) and the organization until the completion of the defined project. Due to the nature of the work, it is necessary for a person to establish this relationship between the client and the organization's people and to establish this relationship in such a way that it does not cause a lack of coordination in the organization's activities. Therefore, project management has a very important role at this stage, because the relationship between the client and his organization will be any problems and problems and points of view that the client has, he must inform the management so that he can implement the cases with its analysis and special processes. To be transferred to other departments and line managers.Keywords: project management, crisis management, project delays bill, project duration
Procedia PDF Downloads 575188 Simulation Approach for Analyzing Transportation Energy System in South Korea
Authors: Sungjun Hong, Youah Lee, Jongwook Kim
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In the last COP21 held in Paris on 2015, Korean government announced that Intended Nationally Determined Contributions (INDC) was 37% based on BAU by 2030. The GHG reduction rate of the transportation sector is the strongest among all sectors by 2020. In order to cope with Korean INDC, Korean government established that 3rd eco-friendly car deployment national plans at the end of 2015. In this study, we make the energy system model for estimating GHG emissions using LEAP model.Keywords: INDC, greenhouse gas, LEAP, transportation
Procedia PDF Downloads 2055187 The Implication of Islamic Finance and Banking for the Sustainable Development in Bangladesh
Authors: Khan Md. Abdus Subhan, Rabeya Bushra
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Bangladesh has already seen significant growth in Islamic banking and finance, contributing to the rapid expansion of this sector in the global banking and finance industry. The objective of this study is to analyse the Islamic finance and banking industry's ability to contribute to sustainable development in Bangladesh. It aims to assess the current state, potential, and limitations of Islamic banking and finance in the country. Bangladesh has significant growth potential for Islamic banking and finance. However, addressing several challenges is imperative. These challenges include the absence of a well-developed infrastructure for Islamic banking and finance, a lack of a solid legal framework, limited attention from the central bank, the absence of an Islamic capital market, and a shortage of experts in Sharia law as well as public awareness. Bangladesh, a nation characterized by a primarily Muslim populace, has acknowledged the importance of Islamic finance and banking in promoting sustainable development. Islamic banking principles advocate for ethical practices, risk sharing, and the avoidance of interest-based transactions. This article examines the impact of Islamic finance and banking on promoting sustainable development in Bangladesh and emphasizes its capacity to tackle socio-economic difficulties. The Islamic banking sector, as a trailblazer in funding sustainable development, has the potential to play a significant role in facilitating the shift toward a circular economy. According to Shari'ah rules and the Sustainable Development Goals (SDGs), Islamic finance principles will help change the linear economy into a circular one. They will also provide a strong framework and a lot of funding sources. This study aims to offer crucial recommendations and techniques for the successful implementation of Islamic finance institutions in Bangladesh. The study will use quantitative research methodology, collecting data from secondary sources. This research offers a thorough understanding of the reasoning for the payment of Zakat and its socio-economic importance. Furthermore, the study provides significant insights that could assist Bangladeshi policymakers and governments in implementing Islamic financing systems.Keywords: sustainable development, Islamic fintech, Islamic banking, Bangladesh
Procedia PDF Downloads 395186 A Design for Supply Chain Model by Integrated Evaluation of Design Value and Supply Chain Cost
Authors: Yuan-Jye Tseng, Jia-Shu Li
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To design a product with the given product requirement and design objective, there can be alternative ways to propose the detailed design specifications of the product. In the design modeling stage, alternative design cases with detailed specifications can be modeled to fulfill the product requirement and design objective. Therefore, in the design evaluation stage, it is required to perform an evaluation of the alternative design cases for deciding the final design. The purpose of this research is to develop a product evaluation model for evaluating the alternative design cases by integrated evaluating the criteria of functional design, Kansei design, and design for supply chain. The criteria in the functional design group include primary function, expansion function, improved function, and new function. The criteria in the Kansei group include geometric shape, dimension, surface finish, and layout. The criteria in the design for supply chain group include material, manufacturing process, assembly, and supply chain operation. From the point of view of value and cost, the criteria in the functional design group and Kansei design group represent the design value of the product. The criteria in the design for supply chain group represent the supply chain and manufacturing cost of the product. It is required to evaluate the design value and the supply chain cost to determine the final design. For the purpose of evaluating the criteria in the three criteria groups, a fuzzy analytic network process (FANP) method is presented to evaluate a weighted index by calculating the total relational values among the three groups. A method using the technique for order preference by similarity to ideal solution (TOPSIS) is used to compare and rank the design alternative cases according to the weighted index using the total relational values of the criteria. The final decision of a design case can be determined by using the ordered ranking. For example, the design case with the top ranking can be selected as the final design case. Based on the criteria in the evaluation, the design objective can be achieved with a combined and weighted effect of the design value and manufacturing cost. An example product is demonstrated and illustrated in the presentation. It shows that the design evaluation model is useful for integrated evaluation of functional design, Kansei design, and design for supply chain to determine the best design case and achieve the design objective.
Keywords: design for supply chain, design evaluation, functional design, Kansei design, fuzzy analytic network process, technique for order preference by similarity to ideal solution
Procedia PDF Downloads 3185185 Development of Al Foam by a Low-Cost Salt Replication Method for Industrial Applications
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Metal foams of Al find diverse applications in several industrial sectors such as in automotive and sports equipment industry as impact, acoustic and vibration absorbers, the aerospace industry as structural components in turbines and spatial cones, in the naval industry as low frequency vibration absorbers, and in construction industry as sound barriers inside tunnels, as fire proof materials and structure protection systems against explosions and even in heat exchangers, orthopedic components, and decorative items. Here, we report on the development of Al foams by a low cost and convenient technique of salt replication method with efficient control over size, geometry and distribution of the pores. Sodium bicarbonate was used as the foaming agent to form the porous refractory salt pattern. The mixed refractory salt slurry was microwave dried followed by sintering for selected time periods. Molten Al was infiltrated into the salt pattern in an inert atmosphere at a pressure of 2 bars. The final products were obtained by leaching out the refractory salt pattern. Mechanical properties of the derived samples were studied with a universal testing machine. The results were analyzed in correlation with their microstructural features evaluated with a scanning electron microscope (SEM).Keywords: metal foam, Al, salt replication method, mechanical properties, SEM
Procedia PDF Downloads 3535184 Efficient Solid Oxide Electrolysers for Syn-Gas Generation Using Renewable Energy
Authors: G. Kaur, A. P. Kulkarni, S. Giddey
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Production of fuels and chemicals using renewable energy is a promising way for large-scale energy storage and export. Solid oxide electrolysers (SOEs) integrated with renewable source of energy can produce 'Syngas' H₂/CO from H₂O/CO₂ in the desired ratio for further conversion to liquid fuels. As only a waste CO₂ from industrial and power generation processes is utilized in these processes, this approach is CO₂ neutral compared to using fossil fuel feedstock. In addition, the waste heat from industrial processes or heat from solar thermal concentrators can be effectively utilised in SOEs to further reduce the electrical requirements by up to 30% which boosts overall energy efficiency of the process. In this paper, the electrochemical performance of various novel steam/CO₂ reduction electrodes (cathode) would be presented. The efficiency and lifetime degradation data for single cells and a stack would be presented along with the response of cells to variable electrical load input mimicking the intermittent nature of the renewable energy sources. With such optimisation, newly developed electrodes have been tested for 500+ hrs with Faraday efficiency (electricity to fuel conversion efficiency) up to 95%, and thermal efficiency in excess of 70% based upon energy content of the syngas produced.Keywords: carbon dioxide, steam conversion, electrochemical system, energy storage, fuel production, renewable energy
Procedia PDF Downloads 2375183 Reduction of Defects Using Seven Quality Control Tools for Productivity Improvement at Automobile Company
Authors: Abdul Sattar Jamali, Imdad Ali Memon, Maqsood Ahmed Memon
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Quality of production near to zero defects is an objective of every manufacturing and service organization. In order to maintain and improve the quality by reduction in defects, Statistical tools are being used by any organizations. There are many statistical tools are available to assess the quality. Keeping in view the importance of many statistical tools, traditional 7QC tools has been used in any manufacturing and automobile Industry. Therefore, the 7QC tools have been successfully applied at one of the Automobile Company Pakistan. Preliminary survey has been done for the implementation of 7QC tool in the assembly line of Automobile Industry. During preliminary survey two inspection points were decided to collect the data, which are Chassis line and trim line. The data for defects at Chassis line and trim line were collected for reduction in defects which ultimately improve productivity. Every 7QC tools has its benefits observed from the results. The flow charts developed for better understanding about inspection point for data collection. The check sheets developed for helps for defects data collection. Histogram represents the severity level of defects. Pareto charts show the cumulative effect of defects. The Cause and Effect diagrams developed for finding the root causes of each defects. Scatter diagram developed the relation of defects increasing or decreasing. The P-Control charts developed for showing out of control points beyond the limits for corrective actions. The successful implementation of 7QC tools at the inspection points at Automobile Industry concluded that the considerable amount of reduction on defects level, as in Chassis line from 132 defects to 13 defects. The total 90% defects were reduced in Chassis Line. In Trim line defects were reduced from 157 defects to 28 defects. The total 82% defects were reduced in Trim Line. As the Automobile Company exercised only few of the 7 QC tools, not fully getting the fruits by the application of 7 QC tools. Therefore, it is suggested the company may need to manage a mechanism for the application of 7 QC tools at every section.Keywords: check sheet, cause and effect diagram, control chart, histogram
Procedia PDF Downloads 3265182 Open Innovation in SMEs: A Multiple Case Study of Collaboration between Start-ups and Craft Enterprises
Authors: Carl-Philipp Valentin Beichert, Marcel Seger
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Digital transformation and climate change require small and medium-sized enterprises (SME) to rethink their way of doing business. Inter-firm collaboration is recognized as helpful means of promoting innovation and competitiveness. In this context, collaborations with start-ups offer valuable opportunities through their innovative products, services, and business models. SMEs, and in particular German craft enterprises, play an important role in the country’s society and economy. Companies in this heterogeneous economic sector have unique characteristics and are limited in their ability to innovate due to their small size and lack of resources. Collaborating with start-ups could help to overcome these shortcomings. To investigate how collaborations emerge and what factors are decisive to successfully drive collaboration, we apply an explorative, qualitative research design. A sample of ten case studies was selected, with the collaboration between a start-up and a craft enterprise forming the unit of analysis. Semi-structured interviews with 20 company representatives allow for a two-sided perspective on the respective collaboration. The interview data is enriched by publicly available data and three expert interviews. As a result, objectives, initiation practices, applied collaboration types, barriers, as well as key success factors could be identified. The results indicate a three-phase collaboration process comprising an initiation, concept, and partner phase (ICP). The ICP framework proposed accordingly highlights the success factors (personal fit, communication, expertise, structure, network) for craft enterprises and start-ups for each collaboration phase. The role of a mediator in the start-up company, with strong expertise in the respective craft sector, is considered an important lever for overcoming barriers such as cultural and communication differences. The ICP framework thus provides promising directions for further research and can help practitioners establish successful collaborations.Keywords: open innovation, SME, craft businesses, startup collaboration, qualitative research
Procedia PDF Downloads 935181 Methods Used to Achieve Airtightness of 0.07 Ach@50Pa for an Industrial Building
Authors: G. Wimmers
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The University of Northern British Columbia needed a new laboratory building for the Master of Engineering in Integrated Wood Design Program and its new Civil Engineering Program. Since the University is committed to reducing its environmental footprint and because the Master of Engineering Program is actively involved in research of energy efficient buildings, the decision was made to request the energy efficiency of the Passive House Standard in the Request for Proposals. The building is located in Prince George in Northern British Columbia, a city located at the northern edge of climate zone 6 with an average low between -8 and -10.5 in the winter months. The footprint of the building is 30m x 30m with a height of about 10m. The building consists of a large open space for the shop and laboratory with a small portion of the floorplan being two floors, allowing for a mezzanine level with a few offices as well as mechanical and storage rooms. The total net floor area is 1042m² and the building’s gross volume 9686m³. One key requirement of the Passive House Standard is the airtight envelope with an airtightness of < 0.6 ach@50Pa. In the past, we have seen that this requirement can be challenging to reach for industrial buildings. When testing for air tightness, it is important to test in both directions, pressurization, and depressurization, since the airflow through all leakages of the building will, in reality, happen simultaneously in both directions. A specific detail or situation such as overlapping but not sealed membranes might be airtight in one direction, due to the valve effect, but are opening up when tested in the opposite direction. In this specific project, the advantage was the overall very compact envelope and the good volume to envelope area ratio. The building had to be very airtight and the details for the windows and doors installation as well as all transitions from walls to roof and floor, the connections of the prefabricated wall panels and all penetrations had to be carefully developed to allow for maximum airtightness. The biggest challenges were the specific components of this industrial building, the large bay door for semi-trucks and the dust extraction system for the wood processing machinery. The testing was carried out in accordance with EN 132829 (method A) as specified in the International Passive House Standard and the volume calculation was also following the Passive House guideline resulting in a net volume of 7383m3, excluding all walls, floors and suspended ceiling volumes. This paper will explore the details and strategies used to achieve an airtightness of 0.07 ach@50Pa, to the best of our knowledge the lowest value achieved in North America so far following the test protocol of the International Passive House Standard and discuss the crucial steps throughout the project phases and the most challenging details.Keywords: air changes, airtightness, envelope design, industrial building, passive house
Procedia PDF Downloads 1485180 A Paradigm Shift towards Personalized and Scalable Product Development and Lifecycle Management Systems in the Aerospace Industry
Authors: David E. Culler, Noah D. Anderson
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Integrated systems for product design, manufacturing, and lifecycle management are difficult to implement and customize. Commercial software vendors, including CAD/CAM and third party PDM/PLM developers, create user interfaces and functionality that allow their products to be applied across many industries. The result is that systems become overloaded with functionality, difficult to navigate, and use terminology that is unfamiliar to engineers and production personnel. For example, manufacturers of automotive, aeronautical, electronics, and household products use similar but distinct methods and processes. Furthermore, each company tends to have their own preferred tools and programs for controlling work and information flow and that connect design, planning, and manufacturing processes to business applications. This paper presents a methodology and a case study that addresses these issues and suggests that in the future more companies will develop personalized applications that fit to the natural way that their business operates. A functioning system has been implemented at a highly competitive U.S. aerospace tooling and component supplier that works with many prominent airline manufacturers around the world including The Boeing Company, Airbus, Embraer, and Bombardier Aerospace. During the last three years, the program has produced significant benefits such as the automatic creation and management of component and assembly designs (parametric models and drawings), the extensive use of lightweight 3D data, and changes to the way projects are executed from beginning to end. CATIA (CAD/CAE/CAM) and a variety of programs developed in C#, VB.Net, HTML, and SQL make up the current system. The web-based platform is facilitating collaborative work across multiple sites around the world and improving communications with customers and suppliers. This work demonstrates that the creative use of Application Programming Interface (API) utilities, libraries, and methods is a key to automating many time-consuming tasks and linking applications together.Keywords: PDM, PLM, collaboration, CAD/CAM, scalable systems
Procedia PDF Downloads 1745179 The Emergence of Construction Mafia in South Africa: The Implication on the Construction Industry
Authors: Thandokazi Nyangiwe, Christopher Amoah, Charles P. Mukumba
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The South African construction sector is threatened by emerging black business forums called construction mafias. The emergence of the construction mafia has culminated in the disruptions and abandonment of construction sites resulting in the loss of jobs for construction workers. The paper examines the origin of construction mafias and their impact on the construction sector, including the potential ways to cope with their operations. A qualitative research approach was adopted for this study using open-ended interview questions to gather information from 30 key construction industry stakeholders, including contractors, subcontractors, consultants, and the construction project communities. Content and thematic analysis were used to analyse the data collected. The findings suggest that most participants do not fully understand the existence and operations of construction mafias in the construction industry. Construction mafias claim to be part of the local business forums. They disrupt construction projects and demand a certain amount, usually 30% of the construction value. Construction mafias frequently resort to intimidation and violence if their demands are unmet. Their operations have resulted in delayed completion of construction projects, abandonment of projects, and loss of income for the contractor and jobs for the construction workers. The interviews were limited to construction stakeholders. Because of the nature of the mafias’ operations, they could not be accessed for interviews for fear of being identified because of the connotation attached to their role as construction mafias. Construction project owners face disruptions of projects resulting in loss of equipment, materials, and income. Therefore, there is a need to sensitise the construction stakeholders in the construction industry regarding the existence and operations of the construction mafia and the implications on construction project performance and delivery. The findings will give insight into the operations of the construction mafias in the South African construction industry, which has caused disruptions in construction project sites. Stakeholders must find solutions to address the construction mafias’ disruptive actions on construction projects. The study presents an initial inquiry that will come up with how to manage and cope with the growing operations of construction mafias in the South African construction industry.Keywords: black business forums, construction mafia, emergence, implication
Procedia PDF Downloads 1345178 Perception of Customers towards Service Quality: A Comparative Analysis of Organized and Unorganised Retail Stores (with Special Reference to Bhopal City)
Authors: Abdul Rashid, Varsha Rokade
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Service Quality within retail units is pivotal for satisfying customers and retaining them. This study on customer perception towards Service Quality variables in Retail aims to identify the dimensions and their impact on customers. An analytical study of the different retail service quality variables was done to understand the relationship between them. The study tries exploring the factors that attract the customers towards the organised and unorganised retail stores in the capital city of Madhya Pradesh, India. As organised retailers are seen as offering similar products in the outlets, improving service quality is seen as critical to ensuring competitive advantage over unorganised retailers. Data were collected through a structured questionnaire on a five-point Likert scale from existing walk-in customers of selected organised and unorganised retail stores in Bhopal City of Madhya Pradesh, India. The data was then analysed by factor analysis using (SPSS) Statistical Package for the Social Sciences especially Percentage analysis, ANOVA and Chi-Square. This study tries to find interrelationship between various Retail Service Quality dimensions, which will help the retailers to identify the steps needed to improve the overall quality of service. Thus, the findings of the study prove to be helpful in understanding the service quality variables which should be considered by organised and unorganised retail stores in Capital city of Madhya Pradesh, India.Also, findings of this empirical research reiterate the point of view that dimensions of Service Quality in Retail play an important role in enhancing customer satisfaction – a sector with high growth potential and tremendous opportunities in rapidly growing economies like India’s. With the introduction of FDI in multi-brand retailing, a large number of international retail players are expected to enter the Indian market, this intern will bring more competition in the retail sector. For benchmarking themselves with global standards, the Indian retailers will have to improve their service quality.Keywords: organized retail, unorganised retail, retail service quality, service quality dimension
Procedia PDF Downloads 2305177 Forest Policy and Its Implications on Private Forestry Development: A Case Study in Rautahat District, Nepal
Authors: Dammar Bahadur Adhikari
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Community forestry in Nepal has got disproportionately high level of support from government and other actors in forestry sector. Even though master plan for forestry sector (1989) has highlighted community and private forestry as one component, the government policies and other intervention deliberately left out private forestry in its structure and programs. The study aimed at providing the pathway for formulating appropriate policies to address need of different kind of forest management regimes in Rautahat district, Nepal. The key areas the research focused were assessment of current status of private forestry, community forest users' understanding on private forestry; criteria for choosing species of private forestry and factors affecting establishment of private forestry in the area. Qualitative and quantitative data were collected employing questionnaire survey, rapid forest assessment and key informant interview. The study found out that forest policies are imposed due to intense pressure of exogenous forces than due to endogenous demand. Most of the local people opine that their traditional knowledge and skills are not sufficient for private forestry and hence need training on the matter. Likewise, local use, market value and rotation dictate the choice of species for plantation in private forests. Currently district forest office is the only government institution working in the area of private forestry all other governmental and non-governmental organizations have condoned. private forestry. Similarly, only permanent settlers in the area are found to establish private forests other forest users such as migrants and forest encroachers follow opportunistic behavior to meet their forest product need from community and national forests. In this regard, the study recommends taking appropriate step to support other forest management system including private forestry provide community forestry the benefits of competition as suggested by Darwin in 18th century, one and half century back and to help alleviate poverty by channelizing benefits to household level.Keywords: community forest, forest management, poverty, private forest, users’ group
Procedia PDF Downloads 3415176 Formation of in-situ Ceramic Phase in N220 Nano Carbon Containing Low Carbon Mgo-C Refractory
Authors: Satyananda Behera, Ritwik Sarkar
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In iron and steel industries, MgO–C refractories are widely used in basic oxygen furnaces, electric arc furnaces and steel ladles due to their excellent corrosion resistance, thermal shock resistance, and other excellent hot properties. Conventionally magnesia carbon refractories contain about 8-20 wt% of carbon but the use of carbon is also associate with disadvantages like oxidation, low fracture strength, high heat loss and higher carbon pick up in steel. So, MgO-C refractory having low carbon content without compromising the beneficial properties is the challenge. Nano carbon, having finer particles, can mix and distribute within the entire matrix uniformly and can result in improved mechanical, thermo-mechanical, corrosion and other refractory properties. Previous experiences with the use of nano carbon in low carbon MgO-C refractory have indicated an optimum range of use of nano carbon around 1 wt%. This optimum nano carbon content was used in MgO-C compositions with flaky graphite followed by aluminum and silicon metal powder as an anti-oxidant. These low carbon MgO-C refractory compositions were prepared by conventional manufacturing techniques. At the same time 16 wt. % flaky graphite containing conventional MgO-C refractory was also prepared parallel under similar conditions. The developed products were characterized for various refractory related properties. Nano carbon containing compositions showed better mechanical, thermo-mechanical properties, and oxidation resistance compared to that of conventional composition. Improvement in the properties is associated with the formation of in-situ ceramic phase-like aluminum carbide, silicon carbide, and magnesium aluminum spinel. Higher surface area and higher reactivity of N220 nano carbon black resulted in greater formation in-situ ceramic phases, even at a much lower amount. Nano carbon containing compositions were found to have improved properties in MgO-C refractories compared to that of the conventional ones at much lower total carbon content.Keywords: N220nano carbon black, refractory properties, conventionally manufacturing techniques, conventional magnesia carbon refractories
Procedia PDF Downloads 3675175 The Role of Knowledge Management in Innovation: Spanish Evidence
Authors: María Jesús Luengo-Valderrey, Mónica Moso-Díez
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In the knowledge-based economy, innovation is considered essential in order to achieve survival and growth in organizations. On the other hand, knowledge management is currently understood as one of the keys to innovation process. Both factors are generally admitted as generators of competitive advantage in organizations. Specifically, activities on R&D&I and those that generate internal knowledge have a positive influence in innovation results. This paper examines this effect and if it is similar or not is what we aimed to quantify in this paper. We focus on the impact that proportion of knowledge workers, the R&D&I investment, the amounts destined for ICTs and training for innovation have on the variation of tangible and intangibles returns for the sector of high and medium technology in Spain. To do this, we have performed an empirical analysis on the results of questionnaires about innovation in enterprises in Spain, collected by the National Statistics Institute. First, using clusters methodology, the behavior of these enterprises regarding knowledge management is identified. Then, using SEM methodology, we performed, for each cluster, the study about cause-effect relationships among constructs defined through variables, setting its type and quantification. The cluster analysis results in four groups in which cluster number 1 and 3 presents the best performance in innovation with differentiating nuances among them, while clusters 2 and 4 obtained divergent results to a similar innovative effort. However, the results of SEM analysis for each cluster show that, in all cases, knowledge workers are those that affect innovation performance most, regardless of the level of investment, and that there is a strong correlation between knowledge workers and investment in knowledge generation. The main findings reached is that Spanish high and medium technology companies improve their innovation performance investing in internal knowledge generation measures, specially, in terms of R&D activities, and underinvest in external ones. This, and the strong correlation between knowledge workers and the set of activities that promote the knowledge generation, should be taken into account by managers of companies, when making decisions about their investments for innovation, since they are key for improving their opportunities in the global market.Keywords: high and medium technology sector, innovation, knowledge management, Spanish companies
Procedia PDF Downloads 2375174 Digitalize or Die-Responsible Innovations in Healthcare and Welfare Sectors
Authors: T. Iakovleva
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Present paper suggests a theoretical model that describes the process of the development of responsible innovations on the firm level in health and welfare sectors. There is a need to develop new firm strategies in these sectors. This paper suggests to look on the concept of responsible innovation that was originally developed on the social level and to apply this new concept to the new area of firm strategy. The rapid global diffusion of information and communication technologies has greatly improved access to knowledge. At the same time, communication is cheap, information is a commodity, and global trade increases technological diffusion. As a result, firms and users, including those outside of industrialized nations, get early exposure to the latest technologies and information. General-purpose technologies such as mobile phones and 3D printers enable individuals to solve local needs and customize products. The combined effect of these changes is having a profound impact on the innovation landscape. Meanwhile, the healthcare sector is facing unprecedented challenges, which are magnified by budgetary constraints, an aging population and the desire to provide care for all. On the other hand, patients themselves are changing. They are savvier about their diseases, they expect their relation with the healthcare professionals to be open and interactive, but above all they want to be part of the decision process. All of this is a reflection of what is already happening in other industries where customers have access to large amount of information and became educated buyers. This article addresses the question of how ICT research and innovation may contribute to developing solutions to grand societal challenges in a responsible way. A broad definition of the concept of responsibility in the context of innovation is adopted in this paper. Responsibility is thus seen as a collective, uncertain and future-oriented activity. This opens the questions of how responsibilities are perceived and distributed and how innovation and science can be governed and stewarded towards socially desirable and acceptable ends. This article addresses a central question confronting politicians, business leaders, and regional planners.Keywords: responsible innovation, ICT, healthcare, welfare sector
Procedia PDF Downloads 1975173 The Impact of the Global Financial Crisis on the Performance of Czech Industrial Enterprises
Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak
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The global financial crisis that erupted in 2008 is associated mainly with the debt crisis. It quickly spread globally through financial markets, international banks and trade links, and affected many economic sectors. Measured by the index of the year-on-year change in GDP and industrial production, the consequences of the global financial crisis manifested themselves with some delay also in the Czech economy. This can be considered a result of the overwhelming export orientation of Czech industrial enterprises. These events offer an important opportunity to study how financial and macroeconomic instability affects corporate performance. Corporate performance factors have long been given considerable attention. It is therefore reasonable to ask whether the findings published in the past are also valid in the times of economic instability and subsequent recession. The decisive factor in effective corporate performance measurement is the existence of an appropriate system of indicators that are able to assess progress in achieving corporate goals. Performance measures may be based on non-financial as well as on financial information. In this paper, financial indicators are used in combination with other characteristics, such as the firm size and ownership structure. Financial performance is evaluated based on traditional performance indicators, namely, return on equity and return on assets, supplemented with indebtedness and current liquidity indices. As investments are a very important factor in corporate performance, their trends and importance were also investigated by looking at the ratio of investments to previous year’s sales and the rate of reinvested earnings. In addition to traditional financial performance indicators, the Economic Value Added was also used. Data used in the research were obtained from a questionnaire survey administered in industrial enterprises in the Czech Republic and from AMADEUS (Analyse Major Database from European Sources), from which accounting data of companies were obtained. Respondents were members of the companies’ senior management. Research results unequivocally confirmed that corporate performance dropped significantly in the 2010-2012 period, which can be considered a result of the global financial crisis and a subsequent economic recession. It was reflected mainly in the decreasing values of profitability indicators and the Economic Value Added. Although the total year-on-year indebtedness declined, intercompany indebtedness increased. This can be considered a result of impeded access of companies to bank loans due to the credit crunch. Comparison of the results obtained with the conclusions of previous research on a similar topic showed that the assumption that firms under foreign control achieved higher performance during the period investigated was not confirmed.Keywords: corporate performance, foreign control, intercompany indebtedness, ratio of investment
Procedia PDF Downloads 333