Search results for: panel ARDL model
17019 Agency Cost, Firm Performance, Corporate Governance: Evidence from Indonesia
Authors: Arnold Sanda Layuk
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Fraud in the disclosure of financial statements by management shows that agency conflict is an important issue in the company. The conflict has consequences for the agency costs that must be borne and has an impact on the firm's performance. The effect of agency costs on firm performance is investigated in this study, as well as whether several variables such as corporate governance mechanisms can positively moderate the agency cost and firm performance relationship. The agency cost is measured by the asset utilization ratio and discretionary expenditure ratio. The firm's performance is represented by the return on equity. Data was collected from the manufacturing companies listed on the Indonesia Stock Exchange from 2015 to 2019, then regressed on the panel data using the panel corrected standard error model (PCSE). According to the findings, agency costs are negatively related to firm performance, which supports previous empirical research findings. It also found that the agency cost and firm performance relationship is significantly moderated by board size and ownership concentration as the representatives of corporate governance mechanisms. It suggests that corporate governance can become tools to reduce agency costs and increase firm performance as well. The empirical evidence adds to previous research on agency conflict, particularly in emerging markets. These findings are expected to supplement previous research and provide additional information to shareholders in order to control opportunistic management decisions that affect their investments and discretionary operational expenses.Keywords: agency cost, corporate governance, asset utilization ratio, firm performance
Procedia PDF Downloads 18717018 Market-Power, Stability, and Risk-Taking: An Analysis Surrounding the Riba-Free Banking
Authors: Louati Salma, Louhichi Awatef, Boujelbene Younes
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Analysis of the trade-off between competition and financial stability has been at the center of academic and policy debate for over two decades and especially since the 2007-2008 global financial crises. We use information on 10 OIC countries from 2005 to 2014 to investigate the influence of bank competition on individual bank stability and risk-taking. Alternatively, we explore whether the quality of prudential regulation may affect the nexus between competition and banking stability/risk-taking. We provide a particular attention to the Islamic banking system which principally involves with the Riba-free instruments as compared to the conventional interest-based system. We first run a dynamic panel regression (GMM), and then we apply a panel vector autoregressive (PVAR) methodology to compare both banking business models.Keywords: Lerner index, Islamic banks, non-performing loans, prudential regulations, z-score
Procedia PDF Downloads 28817017 Climate Change, Agriculture and Food Security in Sub-Saharan Africa: What Effects and What Answers?
Authors: Abdoulahad Allamine
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The objective of this study is to assess the impact of climate variability on agriculture and food security in 43 countries of sub-Saharan Africa. We use for this purpose the data from BADC bases, UNCTAD, and WDI FAOSTAT to estimate a VAR model on panel data. The sample is divided into three (03) agro-climatic zones, more explicitly the equatorial zone, the Sahel region and the semi-arid zone. This allows to highlight the differential impacts sustained by countries and appropriate responses to each group of countries. The results show that the sharp fluctuations in the volume of rainfall negatively affect agriculture and food security of countries in the equatorial zone, with heavy rainfall and high temperatures in the Sahel region. However, countries with low temperatures and low rainfall are the least affected. The hedging policies against the risks of climate variability must be more active in the first two groups of countries. On this basis and in general, we recommend integration of agricultural policies between countries is done to reduce the effects of climate variability on agriculture and food security. It would be logical to encourage regional and international closer collaboration on the development and dissemination of improved varieties, ecological intensification, and management of biotic and abiotic stresses facing these climate variability to sustainably increase food production. Small farmers also need training in agricultural risk hedging techniques related to climate variations; this requires an increase in state budgets allocated to agriculture.Keywords: agro-climatic zones, climate variability, food security, Sub-Saharan Africa, VAR on panel data
Procedia PDF Downloads 37517016 Establishment and Application of Numerical Simulation Model for Shot Peen Forming Stress Field Method
Authors: Shuo Tian, Xuepiao Bai, Jianqin Shang, Pengtao Gai, Yuansong Zeng
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Shot peen forming is an essential forming process for aircraft metal wing panel. With the development of computer simulation technology, scholars have proposed a numerical simulation method of shot peen forming based on stress field. Three shot peen forming indexes of crater diameter, shot speed and surface coverage are required as simulation parameters in the stress field method. It is necessary to establish the relationship between simulation and experimental process parameters in order to simulate the deformation under different shot peen forming parameters. The shot peen forming tests of the 2024-T351 aluminum alloy workpieces were carried out using uniform test design method, and three factors of air pressure, feed rate and shot flow were selected. The second-order response surface model between simulation parameters and uniform test factors was established by stepwise regression method using MATLAB software according to the results. The response surface model was combined with the stress field method to simulate the shot peen forming deformation of the workpiece. Compared with the experimental results, the simulated values were smaller than the corresponding test values, the maximum and average errors were 14.8% and 9%, respectively.Keywords: shot peen forming, process parameter, response surface model, numerical simulation
Procedia PDF Downloads 8117015 A Study on Inverse Determination of Impact Force on a Honeycomb Composite Panel
Authors: Hamed Kalhori, Lin Ye
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In this study, an inverse method was developed to reconstruct the magnitude and duration of impact forces exerted to a rectangular carbon fibre-epoxy composite honeycomb sandwich panel. The dynamic signals captured by Piezoelectric (PZT) sensors installed on the panel remotely from the impact locations were utilized to reconstruct the impact force generated by an instrumented hammer through an extended deconvolution approach. Two discretized forms of convolution integral are considered; the traditional one with an explicit transfer function and the modified one without an explicit transfer function. Deconvolution, usually applied to reconstruct the time history (e.g. magnitude) of a stochastic force at a defined location, is extended to identify both the location and magnitude of the impact force among a number of potential impact locations. It is assumed that a number of impact forces are simultaneously exerted to all potential locations, but the magnitude of all forces except one is zero, implicating that the impact occurs only at one location. The extended deconvolution is then applied to determine the magnitude as well as location (among the potential ones), incorporating the linear superposition of responses resulted from impact at each potential location. The problem can be categorized into under-determined (the number of sensors is less than that of impact locations), even-determined (the number of sensors equals that of impact locations), or over-determined (the number of sensors is greater than that of impact locations) cases. For an under-determined case, it comprises three potential impact locations and one PZT sensor for the rectangular carbon fibre-epoxy composite honeycomb sandwich panel. Assessments are conducted to evaluate the factors affecting the precision of the reconstructed force. Truncated Singular Value Decomposition (TSVD) and the Tikhonov regularization are independently chosen to regularize the problem to find the most suitable method for this system. The selection of optimal value of the regularization parameter is investigated through L-curve and Generalized Cross Validation (GCV) methods. In addition, the effect of different width of signal windows on the reconstructed force is examined. It is observed that the impact force generated by the instrumented impact hammer is sensitive to the impact locations of the structure, having a shape from a simple half-sine to a complicated one. The accuracy of the reconstructed impact force is evaluated using the correlation co-efficient between the reconstructed force and the actual one. Based on this criterion, it is concluded that the forces reconstructed by using the extended deconvolution without an explicit transfer function together with Tikhonov regularization match well with the actual forces in terms of magnitude and duration.Keywords: honeycomb composite panel, deconvolution, impact localization, force reconstruction
Procedia PDF Downloads 52917014 Modeling Residential Electricity Consumption Function in Malaysia: Time Series Approach
Authors: L. L. Ivy-Yap, H. A. Bekhet
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As the Malaysian residential electricity consumption continued to increase rapidly, effective energy policies, which address factors affecting residential electricity consumption, is urgently needed. This study attempts to investigate the relationship between residential electricity consumption (EC), real disposable income (Y), price of electricity (Pe) and population (Po) in Malaysia for 1978-2011 periods. Unlike previous studies on Malaysia, the current study focuses on the residential sector, a sector that is important for the contemplation of energy policy. The Phillips-Perron (P-P) unit root test is employed to infer the stationary of each variable while the bound test is executed to determine the existence of co-integration relationship among the variables, modeled in an Autoregressive Distributed Lag (ARDL) framework. The CUSUM and CUSUM of squares tests are applied to ensure the stability of the model. The results suggest the existence of long-run equilibrium relationship and bidirectional Granger causality between EC and the macroeconomic variables. The empirical findings will help policy makers of Malaysia in developing new monitoring standards of energy consumption. As it is the major contributing factor in economic growth and CO2 emission, there is a need for more proper planning in Malaysia to attain future targets in order to cut emissions.Keywords: co-integration, elasticity, granger causality, Malaysia, residential electricity consumption
Procedia PDF Downloads 25817013 The Interactive Effects among Supervisor Support, Academic Emotion, and Positive Mental Health: An Evidence Based on Longitudinal Cross-Lagged Panel Data Analysis on Postgraduates in China
Authors: Jianzhou Ni, Hua Fan
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It has been determined that supervisor support has a major influence on postgraduate students' academic emotions and is considered a method of successfully anticipating postgraduates' good psychological well-being levels. As a result, by assessing the mediating influence upon academic emotions for contemporary postgraduates in China, this study investigated the tight reciprocal relationship between psychological empowerment and positive mental well-being among postgraduates. To that end, a help enables a theoretical analysis of role clarity, academic emotion, and positive psychological health was developed, and its validity and reliability were demonstrated for the first time using the normalized postgrad relationship with supervisor scale, academic emotion scale, and positive mental scale, as well as questionnaire data from Chinese postgraduate students. This study used the cross-lagged (ARCL) panel model data to longitudinally measure 798 valid data from two survey questions polls taken in 2019 (T1) and 2021 (T2) to investigate the link between supervisor support and positive graduate student mental well-being in a bidirectional relationship of influence. The study discovered that mentor assistance could have a considerable beneficial impact on graduate students' academic emotions and, as a result, indirectly help learners attain positive mental health development. This verifies the theoretical premise that academic emotions partially mediate the effect of mentor support on positive mental health development and argues for the coexistence of the two. The outcomes of this study can help researchers gain a better knowledge of the dynamic interplay among three different research variables: supervisor support, academic emotions, and positive mental health, as well as fill gaps in previous research. In this regard, the study indicated that mentor assistance directly stimulates students' academic drive and assists graduate students in developing good academic emotions, which contributes to the development of positive mental health. However, given the restricted measurement time in this study's cross-lagged panel data and the potential effect of moderating effects other than academic mood on graduate students' good mental health, the results of this study need to be more fully understood and validated.Keywords: supervisor support, academic emotions, positive mental health, interaction effects, longitudinal cross-lagged measurements
Procedia PDF Downloads 8317012 Analyzing the Impact of Spatio-Temporal Climate Variations on the Rice Crop Calendar in Pakistan
Authors: Muhammad Imran, Iqra Basit, Mobushir Riaz Khan, Sajid Rasheed Ahmad
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The present study investigates the space-time impact of climate change on the rice crop calendar in tropical Gujranwala, Pakistan. The climate change impact was quantified through the climatic variables, whereas the existing calendar of the rice crop was compared with the phonological stages of the crop, depicted through the time series of the Normalized Difference Vegetation Index (NDVI) derived from Landsat data for the decade 2005-2015. Local maxima were applied on the time series of NDVI to compute the rice phonological stages. Panel models with fixed and cross-section fixed effects were used to establish the relation between the climatic parameters and the time-series of NDVI across villages and across rice growing periods. Results show that the climatic parameters have significant impact on the rice crop calendar. Moreover, the fixed effect model is a significant improvement over cross-sectional fixed effect models (R-squared equal to 0.673 vs. 0.0338). We conclude that high inter-annual variability of climatic variables cause high variability of NDVI, and thus, a shift in the rice crop calendar. Moreover, inter-annual (temporal) variability of the rice crop calendar is high compared to the inter-village (spatial) variability. We suggest the local rice farmers to adapt this change in the rice crop calendar.Keywords: Landsat NDVI, panel models, temperature, rainfall
Procedia PDF Downloads 19617011 Nonparametric Specification Testing for the Drift of the Short Rate Diffusion Process Using a Panel of Yields
Authors: John Knight, Fuchun Li, Yan Xu
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Based on a new method of the nonparametric estimator of the drift function, we propose a consistent test for the parametric specification of the drift function in the short rate diffusion process using observations from a panel of yields. The test statistic is shown to follow an asymptotic normal distribution under the null hypothesis that the parametric drift function is correctly specified, and converges to infinity under the alternative. Taking the daily 7-day European rates as a proxy of the short rate, we use our test to examine whether the drift of the short rate diffusion process is linear or nonlinear, which is an unresolved important issue in the short rate modeling literature. The testing results indicate that none of the drift functions in this literature adequately captures the dynamics of the drift, but nonlinear specification performs better than the linear specification.Keywords: diffusion process, nonparametric estimation, derivative security price, drift function and volatility function
Procedia PDF Downloads 35817010 A Flagship Framework with Feet of Clay: Operational and Structural Challenges of the African Peace and Security Architecture
Authors: Wiriranai Brilliant Masara
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The African Peace and Security Architecture is widely celebrated and revered as a paragon of the will to address peace and security challenges in Africa. However, like any other institution, it is embedded with operational and institutional challenges that prevent it from effectively carrying out its mandate and turning goals into achieved results. The article examines the fundamental flaws and weaknesses of the African Peace and Security Architecture by focusing on its institutions, norms, instruments, and its relationship to Africa’s Regional Economic Communities. Therefore, the article reviews the flaws of the five elements of the African Peace and Security Architecture which are the Peace and Security Council, Panel of the Wise, Continental Early Warning System, African Standby Force, and Peace Fund.Keywords: African Union, African Peace and Security Architecture, peace and security council, continental early warning system, African Standby Force, Panel of the Wise, Peace Fund
Procedia PDF Downloads 13217009 Experiences of Students in a Cultural Competence Learning Project in Hong Kong- Themes from Qualitative Analysis
Authors: Diana Kwok
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Introduction: There is a rising concern on the educational needs of school guidance teachers, counselors, and sex educators to work effectively with students from multicultural groups, such as racial minorities, gender minorities, sexual minorities, and disability groups etc., and to respect cultural diversities. A specialized training model, the multicultural framework based on contact theory is recognized as necessary training model for professional training programs. Methodology: While the major focus of this project is on improving teaching and learning in teacher training courses within the department of Special Education and Counselling, it specifically aims to enhance the cultural competence of 102 participants enrolled in counseling and sexuality education courses by integrating the following teaching and learning strategies: 1) Panel presentation; 2) Case studies; 3) Experiential learning. Data sources from the participants consisted of the following: (a) questionnaires (MCKAS and ATLG) administered in classes; (b) weekly reflective journals, and c) focus group interviews with panel members. The focus group interviews with panel members were documented. Qualitatively, the weekly reflections were content analyzed. The presentation in this specific conference put focus on themes we found from qualitative content analysis of weekly reflective journals from 102 participants. Findings: Content analysis had found the following preliminary emergent themes: Theme I) Cultural knowledge and challenges to personal limitation. Students had gained a new perspective that specific cultural knowledge involved unique values and worldview. Awareness of limitation of counsellors is very important after actively acquiring the cultural knowledge. Theme 2 - Observation, engagement and active learning. Through the sharing and case studies, as well as visits to the communities, students recognized that observation and listening to the needs of cultural group members were the essential steps before taking any intervention steps. Theme 3 - Curiosity and desire for further inter-group dialogue. All students expressed their desire, curiosity, and motivation to have further inter-group dialogue in their future work settings. Theme 4: Experience with teaching and learning strategies. Students shared their perspectives on how teaching and learning strategies had facilitated their acquisition of cultural competence. Results of this analysis suggests that diverse teaching and learning strategies based on contact perspective had stimulated their curiosity to re-examine their values and motivated them to acquire cultural knowledge relevant to the cultural groups. Acknowledgment: The teaching and learning project was funded by the Teaching and Development Grant, Hong Kong Institute of Education (Project Number T0142).Keywords: cultural competence, Chinese teacher students, teaching and learning, contacts
Procedia PDF Downloads 23217008 Effects of an Economic Recession on Executive Compensation: A Panel Analysis of Listed Companies in Brazil
Authors: Joaquim Rubens Fontes-Filho, Felipe Buchbinder, Marcelo Desterro
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The study aims to identify the effects of an economic recession on the compensation of executives of listed companies. Market-based and labor environment explanations have received particular attention, both to explain the reasons for a growth in this compensation and to indicate that they may increase agency problems rather than mitigate them. In this sense, labor forces, especially related to the market for executives, contribute to defining the terms of compensation packages and represent a significant external control mechanism to moderate agency problems, but may be of little effect if the executives are entrenched and concentrate enough power to have a say in his/her compensation. Based on a five-year data panel related to executive compensation in 250 listed companies in Brazil, we examine whether the economic recession in the last two years produced any impact in this compensation, controlling for the sector and level of governance of the company.Keywords: agency problems, executive compensation, control mechanisms, corporate governance
Procedia PDF Downloads 43717007 Teaching, Learning and Evaluation Enhancement of Information Communication Technology Education in Schools through Pedagogical and E-Learning Techniques in the Sri Lankan Context
Authors: M. G. N. A. S. Fernando
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This study uses a researchable framework to improve the quality of ICT education and the Teaching Learning Assessment/ Evaluation (TLA/TLE) process. It utilizes existing resources while improving the methodologies along with pedagogical techniques and e-Learning approaches used in the secondary schools of Sri Lanka. The study was carried out in two phases. Phase I focused on investigating the factors which affect the quality of ICT education. Based on the key factors of phase I, the Phase II focused on the design of an Experimental Application Model with 6 activity levels. Each Level in the Activity Model covers one or more levels in the Revised Bloom’s Taxonomy. Towards further enhancement of activity levels, other pedagogical techniques (activity based learning, e-learning techniques, problem solving activities and peer discussions etc.) were incorporated to each level in the activity model as appropriate. The application model was validated by a panel of teachers including a domain expert and was tested in the school environment too. The validity of performance was proved using 6 hypotheses testing and other methodologies. The analysis shows that student performance with problem solving activities increased by 19.5% due to the different treatment levels used. Compared to existing process it was also proved that the embedded techniques (mixture of traditional and modern pedagogical methods and their applications) are more effective with skills development of teachers and students.Keywords: activity models, Bloom’s taxonomy, ICT education, pedagogies
Procedia PDF Downloads 15717006 A Methodological Approach to Development of Mental Script for Mental Practice of Micro Suturing
Authors: Vaikunthan Rajaratnam
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Intro: Motor imagery (MI) and mental practice (MP) can be an alternative to acquire mastery of surgical skills. One component of using this technique is the use of a mental script. The aim of this study was to design and develop a mental script for basic micro suturing training for skill acquisition using a low-fidelity rubber glove model and to describe the detailed methodology for this process. Methods: This study was based on a design and development research framework. The mental script was developed with 5 expert surgeons performing a cognitive walkthrough of the repair of a vertical opening in a rubber glove model using 8/0 nylon. This was followed by a hierarchal task analysis. A draft script was created, and face and content validity assessed with a checking-back process. The final script was validated with the recruitment of 28 participants, assessed using the Mental Imagery Questionnaire (MIQ). Results: The creation of the mental script is detailed in the full text. After assessment by the expert panel, the mental script had good face and content validity. The average overall MIQ score was 5.2 ± 1.1, demonstrating the validity of generating mental imagery from the mental script developed in this study for micro suturing in the rubber glove model. Conclusion: The methodological approach described in this study is based on an instructional design framework to teach surgical skills. This MP model is inexpensive and easily accessible, addressing the challenge of reduced opportunities to practice surgical skills. However, while motor skills are important, other non-technical expertise required by the surgeon is not addressed with this model. Thus, this model should act a surgical training augment, but not replace it.Keywords: mental script, motor imagery, cognitive walkthrough, verbal protocol analysis, hierarchical task analysis
Procedia PDF Downloads 9717005 Logistic Regression Model versus Additive Model for Recurrent Event Data
Authors: Entisar A. Elgmati
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Recurrent infant diarrhea is studied using daily data collected in Salvador, Brazil over one year and three months. A logistic regression model is fitted instead of Aalen's additive model using the same covariates that were used in the analysis with the additive model. The model gives reasonably similar results to that using additive regression model. In addition, the problem with the estimated conditional probabilities not being constrained between zero and one in additive model is solved here. Also martingale residuals that have been used to judge the goodness of fit for the additive model are shown to be useful for judging the goodness of fit of the logistic model.Keywords: additive model, cumulative probabilities, infant diarrhoea, recurrent event
Procedia PDF Downloads 62817004 Democracy as a Curve: A Study on How Democratization Impacts Economic Growth
Authors: Henrique Alpalhão
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This paper attempts to model the widely studied relationship between a country's economic growth and its level of democracy, with an emphasis on possible non-linearities. We adopt the concept of 'political capital' as a measure of democracy, which is extremely uncommon in the literature and brings considerable advantages both in terms of dynamic considerations and plausibility. While the literature is not consensual on this matter, we obtain, via panel Arellano-Bond regression analysis on a database of more than 60 countries over 50 years, significant and robust results that indicate that the impact of democratization on economic growth varies according to the stage of democratic development each country is in.Keywords: democracy, economic growth, political capital, political economy
Procedia PDF Downloads 31217003 ZigBee Wireless Sensor Nodes with Hybrid Energy Storage System Based on Li-Ion Battery and Solar Energy Supply
Authors: Chia-Chi Chang, Chuan-Bi Lin, Chia-Min Chan
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Most ZigBee sensor networks to date make use of nodes with limited processing, communication, and energy capabilities. Energy consumption is of great importance in wireless sensor applications as their nodes are commonly battery-driven. Once ZigBee nodes are deployed outdoors, limited power may make a sensor network useless before its purpose is complete. At present, there are two strategies for long node and network lifetime. The first strategy is saving energy as much as possible. The energy consumption will be minimized through switching the node from active mode to sleep mode and routing protocol with ultra-low energy consumption. The second strategy is to evaluate the energy consumption of sensor applications as accurately as possible. Erroneous energy model may render a ZigBee sensor network useless before changing batteries. In this paper, we present a ZigBee wireless sensor node with four key modules: a processing and radio unit, an energy harvesting unit, an energy storage unit, and a sensor unit. The processing unit uses CC2530 for controlling the sensor, carrying out routing protocol, and performing wireless communication with other nodes. The harvesting unit uses a 2W solar panel to provide lasting energy for the node. The storage unit consists of a rechargeable 1200 mAh Li-ion battery and a battery charger using a constant-current/constant-voltage algorithm. Our solution to extend node lifetime is implemented. Finally, a long-term sensor network test is used to exhibit the functionality of the solar powered system.Keywords: ZigBee, Li-ion battery, solar panel, CC2530
Procedia PDF Downloads 36917002 An Investigation of Water Atomizer in Ejected Gas of a Vehicle Engine
Authors: Chun-Wei Liu, Feng-Tsai Weng
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People faced pollution threaten in modern age although the standard of exhaust gas of vehicles has been established. The goal of this study is to investigate the effect of water atomizer in a vehicle emission system. Diluted 20% ammonia water was used in spraying system. Micro particles produced by exhausted gas from engine of vehicle which were cumulated through atomized spray in a self-development collector. In experiments, a self-designed atomization model plate and a gas tank controlled by the micro-processor using Pulse Width Modulation (PWM) logic was prepared for exhaust test. The gas from gasoline-engine of vehicle was purified with the model panel collector. A soft well named ANSYS was utilized for analyzing the distribution condition of rejected gas. Micro substance and percentage of CO, HC, CO2, NOx in exhausted gas were investigated at different engine speed, and atomizer vibration frequency. Exceptional results in the vehicle engine emissions measurement were obtained. The temperature of exhausted gas can be decreased 3oC. Micro substances PM10 can be decreased and the percentage of CO can be decreased more than 55% at 2500RPM by proposed system. Value of CO, HC, CO2 and NOX was all decreased when atomizers were used with water.Keywords: atomizer, CO, HC, NOx, PM2.5
Procedia PDF Downloads 44617001 Efficiency of the Slovak Commercial Banks Applying the DEA Window Analysis
Authors: Iveta Řepková
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The aim of this paper is to estimate the efficiency of the Slovak commercial banks employing the Data Envelopment Analysis (DEA) window analysis approach during the period 2003-2012. The research is based on unbalanced panel data of the Slovak commercial banks. Undesirable output was included into analysis of banking efficiency. It was found that most efficient banks were Postovabanka, UniCredit Bank and Istrobanka in CCR model and the most efficient banks were Slovenskasporitelna, Istrobanka and UniCredit Bank in BCC model. On contrary, the lowest efficient banks were found Privatbanka and CitiBank. We found that the largest banks in the Slovak banking market were lower efficient than medium-size and small banks. Results of the paper is that during the period 2003-2008 the average efficiency was increasing and then during the period 2010-2011 the average efficiency decreased as a result of financial crisis.Keywords: data envelopment analysis, efficiency, Slovak banking sector, window analysis
Procedia PDF Downloads 35317000 Analyzing the Climate Change Impact and Farmer's Adaptability Strategies in Khyber Pakhtunkhwa, Pakistan
Authors: Khuram Nawaz Sadozai, Sonia
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The agriculture sector is deemed more vulnerable to climate change as its variation can directly affect the crop’s productivity, but farmers’ adaptation strategies play a vital role in climate change-agriculture relationship. Therefore, this research has been undertaken to assess the Climate Change impact on wheat productivity and farmers’ adaptability strategies in Khyber Pakhtunkhwa province, Pakistan. The panel dataset was analyzed to gauge the impact of changing climate variables (i.e., temperature, rainfall, and humidity) on wheat productivity from 1985 to 2015. Amid the study period, the fixed effect estimates confirmed an inverse relationship of temperature and rainfall on the wheat yield. The impact of temperature is observed to be detrimental as compared to the rainfall, causing 0.07 units reduction in the production of wheat with 1C upsurge in temperature. On the flip side, humidity revealed a positive association with the wheat productivity by confirming that high humidity could be beneficial to the production of the crop over time. Thus, this study ensures significant nexus between agricultural production and climatic parameters. However, the farming community in the underlying study area has limited knowledge about the adaptation strategies to lessen the detrimental impact of changing climate on crop yield. It is recommended that farmers should be well equipped with training and advanced agricultural management practices under the realm of climate change. Moreover, innovative technologies pertinent to the agriculture system should be encouraged to handle the challenges arising due to variations in climate factors.Keywords: climate change, fixed effect model, panel data, wheat productivity
Procedia PDF Downloads 11416999 Management and Marketing Implications of Tourism Gravity Models
Authors: Clive L. Morley
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Gravity models and panel data modelling of tourism flows are receiving renewed attention, after decades of general neglect. Such models have quite different underpinnings from conventional demand models derived from micro-economic theory. They operate at a different level of data and with different theoretical bases. These differences have important consequences for the interpretation of the results and their policy and managerial implications. This review compares and contrasts the two model forms, clarifying the distinguishing features and the estimation requirements of each. In general, gravity models are not recommended for use to address specific management and marketing purposes.Keywords: gravity models, micro-economics, demand models, marketing
Procedia PDF Downloads 43216998 Driving Forces of Bank Liquidity: Evidence from Selected Ethiopian Private Commercial Banks
Authors: Tadele Tesfay Teame, Tsegaye Abrehame, Hágen István Zsombor
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Liquidity is one of the main concerns for banks, and thus achieving the optimum level of liquidity is critical. The main objective of this study is to discover the driving force of selected private commercial banks’ liquidity. In order to achieve the objective explanatory research design and quantitative research approach were used. Data has been collected from a secondary source of the sampled Ethiopian private commercial banks’ financial statements, the National Bank of Ethiopia, and the Minister of Finance, the sample covering the period from 2011 to 2022. Bank-specific and macroeconomic variables were analyzed by using the balanced panel fixed effect regression model. Bank’s liquidity ratio is measured by the total liquid asset to total deposits. The findings of the study revealed that bank size, capital adequacy, loan growth rate, and non-performing loan had a statistically significant impact on private commercial banks’ liquidity, and annual inflation rate and interest rate margin had a statistically significant impact on the liquidity of Ethiopian private commercial banks measured by L1 (bank liquidity). Thus, banks in Ethiopia should not only be concerned about internal structures and policies/procedures, but they must consider both the internal environment and the macroeconomic environment together in developing their strategies to efficiently manage their liquidity position and private commercial banks to maintain their financial proficiency shall have bank liquidity management policy by assimilating both bank-specific and macro-economic variables.Keywords: liquidity, Ethiopian private commercial banks, liquidity ratio, panel data regression analysis
Procedia PDF Downloads 8716997 Modeling and Simulation of Honeycomb Steel Sandwich Panels under Blast Loading
Authors: Sayed M. Soleimani, Nader H. Ghareeb, Nourhan H. Shaker, Muhammad B. Siddiqui
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Honeycomb sandwich panels have been widely used as protective structural elements against blast loading. The main advantages of these panels include their light weight due to the presence of voids, as well as their energy absorption capability. Terrorist activities have imposed new challenges to structural engineers to design protective measures for vital structures. Since blast loading is not usually considered in the load combinations during the design process of a structure, researchers around the world have been motivated to study the behavior of potential elements capable of resisting sudden loads imposed by the detonation of explosive materials. One of the best candidates for this objective is the honeycomb sandwich panel. Studying the effects of explosive materials on the panels requires costly and time-consuming experiments. Moreover, these type of experiments need permission from defense organizations which can become a hurdle. As a result, modeling and simulation using an appropriate tool can be considered as a good alternative. In this research work, the finite element package ABAQUS® is used to study the behavior of hexagonal and squared honeycomb steel sandwich panels under the explosive effects of different amounts of trinitrotoluene (TNT). The results of finite element modeling of a specific honeycomb configuration are initially validated by comparing them with the experimental results from literature. Afterwards, several configurations including different geometrical properties of the honeycomb wall are investigated and the results are compared with the original model. Finally, the effectiveness of the core shape and wall thickness are discussed, and conclusions are made.Keywords: Abaqus, blast loading, finite element modeling, steel honeycomb sandwich panel
Procedia PDF Downloads 34716996 An Econometric Analysis of the Impacts of Inflation on the Economic Growth of South Africa
Authors: Gisele Mah, Paul Saah
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The rising rates of inflation are hindering economic growth in developing nations. Hence, this study investigated the effects of inflation rates on the economic growth of South Africa using the secondary time series data from 1987 to 2022. The main objectives of this study were to investigate the long run relationship between inflation and economic growth, and also to determine the causality direction between these two variables. The study utilized the Autoregressive Distributed Lag (ARDL) bounds test of co-integration to investigate whether there is a long-run relationship between inflation and economic growth. The Pairwise Granger causality approach was employed to determine the second objective, which is the direction of causality. The study discovered only one co-integration relationship between our variables and it was between inflation and economic growth. The results showed that there is a negative and significant relationship between inflation and economic growth. There appeared to be a positive and significant relationship between economic growth and exchange rate. The interest rates have shown to be negative and insignificant in explaining economic growth. The study also established that inflation does Granger cause economic growth which is given as GDP. Similarly, the study discovered that inflation Granger causes exchange rates. Therefore, the study recommends that inflation should be decreased in South Africa, in order for economic growth to increase. Contrary, this study recommends that South Africa should increase its exchange rates, in order for economic growth to also increase.Keywords: inflation rate, economic growth, South Africa, autoregressive distributed lag model
Procedia PDF Downloads 3616995 Solar Cell Packed and Insulator Fused Panels for Efficient Cooling in Cubesat and Satellites
Authors: Anand K. Vinu, Vaishnav Vimal, Sasi Gopalan
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All spacecraft components have a range of allowable temperatures that must be maintained to meet survival and operational requirements during all mission phases. Due to heat absorption, transfer, and emission on one side, the satellite surface presents an asymmetric temperature distribution and causes a change in momentum, which can manifest in spinning and non-spinning satellites in different manners. This problem can cause orbital decays in satellites which, if not corrected, will interfere with its primary objective. The thermal analysis of any satellite requires data from the power budget for each of the components used. This is because each of the components has different power requirements, and they are used at specific times in an orbit. There are three different cases that are run, one is the worst operational hot case, the other one is the worst non-operational cold case, and finally, the operational cold case. Sunlight is a major source of heating that takes place on the satellite. The way in which it affects the spacecraft depends on the distance from the Sun. Any part of a spacecraft or satellite facing the Sun will absorb heat (a net gain), and any facing away will radiate heat (a net loss). We can use the state-of-the-art foldable hybrid insulator/radiator panel. When the panels are opened, that particular side acts as a radiator for dissipating the heat. Here the insulator, in our case, the aerogel, is sandwiched with solar cells and radiator fins (solar cells outside and radiator fins inside). Each insulated side panel can be opened and closed using actuators depending on the telemetry data of the CubeSat. The opening and closing of the panels are dependent on the special code designed for this particular application, where the computer calculates where the Sun is relative to the satellites. According to the data obtained from the sensors, the computer decides which panel to open and by how many degrees. For example, if the panels open 180 degrees, the solar panels will directly face the Sun, in turn increasing the current generator of that particular panel. One example is when one of the corners of the CubeSat is facing or if more than one side is having a considerable amount of sun rays incident on it. Then the code will analyze the optimum opening angle for each panel and adjust accordingly. Another means of cooling is the passive way of cooling. It is the most suitable system for a CubeSat because of its limited power budget constraints, low mass requirements, and less complex design. Other than this fact, it also has other advantages in terms of reliability and cost. One of the passive means is to make the whole chase act as a heat sink. For this, we can make the entire chase out of heat pipes and connect the heat source to this chase with a thermal strap that transfers the heat to the chassis.Keywords: passive cooling, CubeSat, efficiency, satellite, stationary satellite
Procedia PDF Downloads 8916994 Does Stock Markets Asymmetric Information Affect Foreign Capital Flows?
Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid
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This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.Keywords: asymmetric information, capital inflow, market microstructure, investment
Procedia PDF Downloads 30816993 Understanding the Impact of Climate-Induced Rural-Urban Migration on the Technical Efficiency of Maize Production in Malawi
Authors: Innocent Pangapanga-Phiri, Eric Dada Mungatana
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This study estimates the effect of climate-induced rural-urban migrants (RUM) on maize productivity. It uses panel data gathered by the National Statistics Office and the World Bank to understand the effect of RUM on the technical efficiency of maize production in rural Malawi. The study runs the two-stage Tobit regression to isolate the real effect of rural-urban migration on the technical efficiency of maize production. The results show that RUM significantly reduces the technical efficiency of maize production. However, the interaction of RUM and climate-smart agriculture has a positive and significant influence on the technical efficiency of maize production, suggesting the need for re-investing migrants’ remittances in agricultural activities.Keywords: climate-smart agriculture, farm productivity, rural-urban migration, panel stochastic frontier models, two-stage Tobit regression
Procedia PDF Downloads 11416992 Does Level of Countries Corruption Affect Firms Working Capital Management?
Authors: Ebrahim Mansoori, Datin Joriah Muhammad
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Recent studies in finance have focused on the effect of external variables on working capital management. This study investigates the effect of corruption indexes on firms' working capital management. A large data set that covers data from 2005 to 2013 from five ASEAN countries, namely, Malaysia, Indonesia, Singapore, Thailand, and the Philippines, was selected to investigate how the level of corruption in these countries affect working capital management. The results of panel data analysis include fixed effect estimations showed that a high level of countries' corruption indexes encourages managers to shorten the CCC length. Meanwhile, the managers reduce the level of investment in cash and cash equivalents when the levels of corruption indexes increase. Therefore, increasing the level of countries' corruption indexes encourages managers to select conservative working capital strategies by reducing the level of NLB.Keywords: ASEAN, corruption indexes, panel data analysis, working capital management
Procedia PDF Downloads 43216991 In-Plane Shear Tests of Prefabricated Masonry Panel System with Two-Component Polyurethane Adhesive
Authors: Ekkehard Fehling, Paul Capewell
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In recent years, the importance of masonry glued by polyurethane adhesive has increased. In 2021, the Institute of Structural Engineering of the University of Kassel was commissioned to carry out quasi-static in-plane shear tests on prefabricated brick masonry panel systems with 2K PUR adhesive in order to investigate the load-bearing behavior during earthquakes. In addition to the usual measurement of deformations using displacement transducers, all tests were documented using an optical measuring system (“GOM”), which was used to determine the surface strains and deformations of the test walls. To compare the results with conventional mortar walls, additional reference tests were carried out on test specimens with thin-bed mortar joints. This article summarizes the results of the test program and provides a comparison between the load-bearing behavior of masonry bonded with polyurethane adhesive and thin bed mortar in order to enable realistic non-linear modeling.Keywords: masonry, shear tests, in-plane, polyurethane adhesive
Procedia PDF Downloads 6216990 Structural Performances of Rubberized Concrete Wall Panel Utilizing Fiber Cement Board as Skin Layer
Authors: Jason Ting Jing Cheng, Lee Foo Wei, Yew Ming Kun, Mo Kim Hung, Yip Chun Chieh
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This research delves into the structural characteristics of distinct construction material, rubberized lightweight foam concrete (RLFC) wall panels, which have been developed as a sustainable alternative for the construction industry. These panels are engineered with a RLFC core, possessing a density of 1150 kg/m3, which is specifically formulated to bear structural loads. The core is enveloped with high-strength fiber cement boards, selected for their superior load-bearing capabilities, and enhanced flexural strength when compared to conventional concrete. A thin bed adhesive, known as TPS, is employed to create a robust bond between the RLFC core and the fiber cement cladding. This study underscores the potential of RLFC wall panels as a viable and eco-friendly option for modern building construction, offering a combination of structural efficiency and environmental benefits.Keywords: structural performance, rubberized concrete wall panel, fiber cement board, insulation performance
Procedia PDF Downloads 52