Search results for: yuan floating exchange rate

Authors: ShiQing Gao, XingYi Zhang, YouHe Zhou

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When a floating tilted cylinder pierces a fluid interface, the fulfilment of constant-contact-angle condition along the cylinder results in shift, stretch and distortion of the contact line, thus leading to a capillary interaction. We perform an investigation of the scaling dependence of tilt angle, contact angle, and cylinder radius on the contact line profile and the corresponding capillary interaction by numerical simulation and experiment. Characterized by three characteristic parameters respectively, the dependences for each deformation mode are systematically analyzed. Both the experiment and simulation reveals an invariant structure that is independent of contact angle and radius to characterize the stretch of the contact line for every tilted case. Based on this observation, we then propose a general capillary force scaling law to incredibly grasp all the simulated results, by simply approximating the contact line profile as tilted ellipse.

Keywords: gas-liquid/liquid-fluid interface, colloidal particle, contact line shape, capillary interaction, surface evolver (SE)

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Authors: Tu Shuyang, Zhang Xu, Zhou Xiang

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The objective of this paper is to investigate the effect of short-term heat exchange decay of ground heat exchanger (GHE) on the ground source heat pump (GSHP) energy efficiency and capacity. A resistance-capacitance (RC) model was developed and adopted to simulate the transient characteristics of the ground thermal condition and heat exchange. The capacity change of the GSHP was linked to the inlet and outlet water temperature by polynomial fitting according to measured parameters given by heat pump manufacturers. Thus, the model, which combined the heat exchange decay with the capacity change, reflected the energy efficiency decay of the whole system. A case of GSHP system was analyzed by the model, and the result showed that there was risk that the GSHP might not meet the load demand because of the efficiency decay in a short-term operation. The conclusion would provide some guidances for GSHP system design to overcome the risk.

Keywords: capacity, energy efficiency, GSHP, heat exchange

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Authors: H. Hammoudi, S. Bendenia, K. Marouf-Khelifa, R. Marouf, J. Schott, A. Khelifa

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The ionic exchange of the NaX zeolite by Cu2+ and/or Zn2+ cations is progressively driven while following the development of some of its characteristic: crystallinity by XR diffraction, profile of isotherms, RI criterion, isosteric adsorption heat and microporous volume using both the Dubinin–Radushkevich (DR) equation and the t-plot through the Lippens–de Boer method which also makes it possible to determine the external surface area. Results show that the cationic exchange process, in the case of Cu2+ introduced at higher degree, is accompanied by crystalline degradation for Cu(x)X, in contrast to Zn2+-exchanged zeolite X. This degradation occurs without significant presence of mesopores, because the RI criterion values were found to be much lower than 2.2. A comparison between the binary and ternary exchanges shows that the curves of CuZn(x)X are clearly below those of Zn(x)X and Cu(x)X, whatever the examined parameter. On the other hand, the curves relating to CuZn(x)X tend towards those of Cu(x)X. This would again confirm the sensitivity of the crystalline structure of CuZn(x)X with respect to the introduction of Cu2+ cations. An original result is the distortion of the zeolitic framework of X zeolites at middle exchange degree, when Cu2+ competes with another divalent cation, such as Zn2+, for the occupancy of sites distributed within zeolitic cavities. In other words, the ternary exchange accentuates the crystalline degradation of X zeolites. An unexpected result also is the no correlation between crystal damage and the external surface area.

Keywords: adsorption, crystallinity, ion exchange, zeolite

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Authors: Seul-Ki Park, Jong-Chun Park, Gyu-Mok Jeon, Dae-Kyung Ock, Seung-Gyu Jeong

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Rogue waves cause frequent accidents of ships and offshore structures, which can result in severe damage to the structures. The Rogue waves, which are also known as big waves, freak waves, extreme waves, monster waves, focused waves, giant waves and abnormal waves, are unexpected and suddenly appearing, and can have a breaking force to destroy the structure even though modern structures are designed to tolerate a breaking wave. In the present study, a series of focused waves are numerically reproduced by concentrating nonlinear multi-directional waves into a target point using a commercial CFD software, Star-CCM+. A flow analysis for investigating the physical characteristics of the focused waves is performed using the Star-CCM+, while it has several difficulties to examine the inner properties of the waves in existing potential theory and experiments. Additionally, the 6-DOF (Degree of Freedom) motion of a floating body interacting with the focused waves are simulated, and the dynamic response of the body are discussed.

Keywords: multidirectional waves, focused waves, rogue waves, wave-structure interaction, numerical wave tank, computational fluid dynamics

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Authors: Ghada Abo-Zaid

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Introduction: Oil is one of the most income source in Bahrain. Low oil price influence on the economy growth and the investment rate in Bahrain. For example, the economic growth was 3.7% in 2012, and it reduced to 2.9% in 2015. Investment rate was 9.8% in 2012, and it is reduced to be 5.9% and -12.1% in 2014 and 2015, respectively. The inflation rate is increased to the peak point in 2013 with 3.3 %. Objectives: The objectives here are to build statistical models to examine the effect of the interest rate inflation rate on the growth economy in Bahrain from 2000 to 2018. Methods: This study based on 18 years, and the multiple regression model is used for the analysis. All of the missing data are omitted from the analysis. Results: Regression model is used to examine the association between the Growth national product (GNP), the inflation rate, and real interest rate. We found that (i) Increase the real interest rate decrease the GNP. (ii) Increase the inflation rate does not effect on the growth economy in Bahrain since the average of the inflation rate was almost 2%, and this is considered as a low percentage. Conclusion: There is a positive impact of the real interest rate on the GNP in Bahrain. While the inflation rate does not show any negative influence on the GNP as the inflation rate was not large enough to effect negatively on the economy growth rate in Bahrain.

Keywords: growth national product, egypt, regression model, interest rate

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Authors: Karan R. Chavan, Paula Saavalainen, Kumudini V. Marathe, Riitta L. Keiski, Ganapati D. Yadav

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Co-contamination of groundwaters by arsenic in different forms is often observed around the globe. Arsenic is introduced into the waters by several mechanisms and different technologies are proposed and practiced for effective removal. The assessment of three prominent technologies, namely, adsorption, ion exchange and nanofiltration was carried out in this study based on lifecycle methodology. The life of the technologies was divided into two stages: cradle to gate (C-G) and gate to gate (G-G), in order to find out the impacts in different categories of environmental burdens, human health and resource consumption. Life cycle inventory was estimated by use of models and design equations concerning with the different technologies. Regeneration was considered for each technology and over the course of its full lifetime. The impact values of adsorption technology for the C-G stage are greater by thousand times (103) and million times (106) compared to ion exchange and nanofiltration technologies, respectively. The impact of G-G stage of the lifecycle is the major contributor of the impact for all the 3 technologies due to electricity consumption during the operation. Overall, the ion Exchange technology fares well in this study of removal of As (V) only.

Keywords: arsenic, nanofiltration, lifecycle assessment, membrane technology

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Authors: Yiying Xiao, Chia Wei Lim, Jinquan Chang, Qixin Yuan, Lei Wang, Ning Yan

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Electrocatalytic reductive amination (ERA) offers an attractive way to make organonitrogen chemicals from renewable feedstock. Here, we report carbon nanotube (CNT) as an effective catalyst for the ERA of biomass-derivable α-keto acids into amino acids using NH₃ as the nitrogen source. Through a facile ball milling (BM) treatment, the intrinsic defects in the CNTs were increased while the electrocatalytic activity of CNTs converting 2-ketoglutaric acid into glutamic acid was enhanced by approximately seven times. A high Faradaic efficiency (FE) of ~90% with a corresponding glutamic acid formation rate up to 180.9 mmol•g⁻¹𝒸ₐₜt•h⁻¹ was achieved, and ~60% molar yield of glutamic acid was obtained after 8 h of electrolysis. Electrokinetic analyses indicate that the BM-CNTs catalysed ERA exhibits first-order dependences on the substrate and NH₃, with a rate-determining step (RDS) involving the first electron transfer. Following this protocol, a number of amino acids were prepared with moderate to high FEs and formation rates. Significantly, we synthesised long carbon chain amino acids, which typically face lower yields using the existing methods.

Keywords: amino acids, carbon nanotubes, electrocatalysis, reductive amination, α-keto acids

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Authors: Hassan Samadi, Mustapha El Jarroudi

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In this work, we consider the homogenization of a non-linear problem in periodic medium with two periodic connected media exchanging a heat flux throughout their common interface. The interfacial exchange coefficient λ is assumed to tend to zero or to infinity following a rate λ=λ(ε) when the size ε of the basic cell tends to zero. Three homogenized problems are determined according to some critical value depending of λ and ε. Our method is based on Γ-Convergence techniques.

Keywords: variational methods, epiconvergence, homogenization, convergence technique

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Authors: Abder-Rahman Ali, Antoine Vacavant, Manuel Grand-Brochier, Adélaïde Albouy-Kissi, Jean-Yves Boire

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In this paper, we present a new segmentation approach for liver lesions in regions of interest within MRI (Magnetic Resonance Imaging). This approach, based on a two-cluster Fuzzy C-Means methodology, considers the parameter variable compactness to handle uncertainty. Fine boundaries are detected by a local recursive merging of ambiguous pixels with a sequential forward floating selection with Zernike moments. The method has been tested on both synthetic and real images. When applied on synthetic images, the proposed approach provides good performance, segmentations obtained are accurate, their shape is consistent with the ground truth, and the extracted information is reliable. The results obtained on MR images confirm such observations. Our approach allows, even for difficult cases of MR images, to extract a segmentation with good performance in terms of accuracy and shape, which implies that the geometry of the tumor is preserved for further clinical activities (such as automatic extraction of pharmaco-kinetics properties, lesion characterization, etc).

Keywords: defuzzification, floating search, fuzzy clustering, Zernike moments

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Authors: Lu Zhao, Yanrong Kang, Lili Guo, Yuan Long, Guidong Xing

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Smart watches, as a handy device with rich functionality, has become one of the most popular wearable devices all over the world. Among the various function, the most basic is health monitoring. The monitoring data can be provided as an effective evidence or a clue for the detection of crime cases. For instance, the step counting data can help to determine whether the watch wearer was quiet or moving during the given time period. There is, however, still quite few research on the analysis of human character based on these data. The purpose of this research is to analyze the health monitoring data to distinguish the drinking state from normal state. The analysis result may play a role in cases involving drinking, such as drunk driving. The experiment mainly focused on finding the figures of smart watch health monitoring data that change with drinking and figuring up the change scope. The chosen subjects are mostly in their 20s, each of whom had been wearing the same smart watch for a week. Each subject drank for several times during the week, and noted down the begin and end time point of the drinking. The researcher, then, extracted and analyzed the health monitoring data from the watch. According to the descriptive statistics analysis, it can be found that the heart rate change when drinking. The average heart rate is about 10% higher than normal, the coefficient of variation is less than about 30% of the normal state. Though more research is needed to be carried out, this experiment and analysis provide a thought of the application of the data from smart watches.

Keywords: character analysis, descriptive statistics analysis, drink state, heart rate, smart watch

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Authors: Amirreza Attarzadeh

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This paper aims to investigate the relationship between economic variables, e.g., inflation rate, interest rate, trade openness and the growth rate of GDP, with domestic investment. The present study also draws on conceptual economy related theories to verify the negative effect of interest rates on domestic investment. However, trade openness and growth rate had a positive correlation, and the inflation rate may have a positive or negative impact on domestic investment.

Keywords: inflation rate, growth rate of GDP, interest rate and trade openness, domestic investment

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Authors: G. S. Sudha, Smita Mohanty, S. K. Nayak

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Epoxidized oils can replace petroleum derived materials in numerous industrial applications, because of their respectable oxirane oxygen content and high reactivity of oxirane ring. Epoxidized castor oil (ECO) has synthesized in the presence of a sulphonated polystyrene type cation exchange resin. The formation of the oxirane ring was confirmed by Fourier Transform Infrared Spectroscopy (FTIR) analysis. The epoxidation reaction was evaluated by Nuclear Magnetic Resonance (NMR) studies. ECO is used as a toughening phase to increase the toughness of petroleum-based epoxy resin.

Keywords: epoxy resin, epoxidized castor oil, sulphonated polystyrene type cation exchange resin, petroleum derived materials

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Authors: Majid Ali, Xinfang Jin, Victor Eniola, Henning Hoene

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The performance of proton exchange membrane (PEM) fuel cells is sensitive to several factors, including power fluctuations, hydrogen utilization, and the quality orientation of the fuel cell stack. In this study, we investigate the impact of these factors on the performance of a PEM fuel cell. We start by analyzing the power fluctuations that are typical in renewable energy systems and their effects on the 50 Watt fuel cell's performance. Next, we examine the hydrogen utilization rate (0-1000 mL/min) and its impact on the cell's efficiency and durability. Finally, we investigate the quality orientation (three different positions) of the fuel cell stack, which can significantly affect the cell's lifetime and overall performance. The basis of our analysis is the utilization of experimental results, which have been further validated by comparing them with simulations and manufacturer results. Our results indicate that power fluctuations can cause significant variations in the fuel cell's voltage and current, leading to a reduction in its performance. Moreover, we show that increasing the hydrogen utilization rate beyond a certain threshold can lead to a decrease in the fuel cell's efficiency. Finally, our analysis demonstrates that the orientation of the fuel cell stack can affect its performance and lifetime due to non-uniform distribution of reactants and products. In summary, our study highlights the importance of considering power fluctuations, hydrogen utilization, and quality orientation in designing and optimizing PEM fuel cell systems. The findings of this study can be useful for researchers and engineers working on the development of fuel cell systems for various applications, including transportation, stationary power generation, and portable devices.

Keywords: fuel cell, proton exchange membrane, renewable energy, power fluctuation, experimental

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Authors: H. Hajmohammadi , A. H. Jafari, M. Eskandari Nasab

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The ion exchange method was used to assess the absorption of sulfate media from laboratory-grade materials. The Taguchi method was employed for determining the optimum conditions for scandium adsorption. Results show that optimum conditions for scandium adsorption from sulfate were obtained by Purolite C100 cationic resin in 0.1 g/l sulfuric acid and scandium concentration of 2 g/l at 25 °C. Studies also showed that lowering H₂SO₄ concentration and aqueous phase temperature leads to an increase in Sc adsorption. Visual Minteq software was used to ascertain the various possible cation types and the effect of concentration of scandium ion species on scandium adsorption by cationic resins. The simulation results of the above software show that scandium ion species are often cationic species that are consistent with experimental data.

Keywords: scandium, ion exchange resin, simulation, leach copper

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Authors: Jinliang Yuan, Jong-Sung Yu, Bengt Sundén

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A computational fluid dynamics (CFD) model is developed for rechargeable non-aqueous electrolyte lithium-air batteries with a partial opening for oxygen supply to the cathode. Multi-phase transport phenomena occurred in the battery are considered, including dissolved lithium ions and oxygen gas in the liquid electrolyte, solid-phase electron transfer in the porous functional materials and liquid-phase charge transport in the electrolyte. These transport processes are coupled with the electrochemical reactions at the active surfaces, and effects of discharge reaction-generated solid Li2O2 on the transport properties and the electrochemical reaction rate are evaluated and implemented in the model. The predicted results are discussed and analyzed in terms of the spatial and transient distribution of various parameters, such as local oxygen concentration, reaction rate, variable solid Li2O2 volume fraction and porosity, as well as the effective diffusion coefficients. It is found that the effect of the solid Li2O2 product deposited at the solid active surfaces is significant on the transport phenomena and the overall battery performance.

Keywords: Computational Fluid Dynamics (CFD), modeling, multi-phase, transport phenomena, lithium-air battery

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Authors: Jifang Tao, Fei Gao, Hong Cai, Yuan Jin Zheng, Yuan Dong Gu

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Photoacoustic technology is used to measure effect absorption of a light by means of acoustic detection, which provides a high sensitive, low-cross response, cost-effective solution for gas molecular detection. In this paper, we proposed an integrated photoacoustic sensor for Indoor-air quality (IAQ) monitoring. The sensor consists of an acoustically resonant cavity, a high silicon acoustic transducer chip, and a low-cost light source. The light is modulated at the resonant frequency of the cavity to create an enhanced periodic heating and result in an amplified acoustic pressure wave. The pressure is readout by a novel acoustic transducer with low noise. Based on this photoacoustic sensor, typical indoor gases, including CO2, CO, O2, and H2O have been successfully detected, and their concentration are also evaluated with very high accuracy. It has wide potential applications in IAQ monitoring for agriculture, food industry, and ventilation control systems used in public places, such as schools, hospitals and airports.

Keywords: indoor-air quality (IAQ) monitoring, photoacoustic gas sensor, cavity enhancement, integrated gas sensor

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Authors: Hebe Wong, Luz Fernandez Calventos

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Tandem language learning, a language exchange process based on the principles of autonomy and reciprocity, provides opportunities for interlocutors to learn each other’s language by communicating online or face-to-face. While much attention has been paid to the process and outcomes of tandem learning via email, little has been discussed about the effectiveness of face-to-face tandem learning on language and culture exchange for university students. The LACTS (Language and Culture Tandem Scheme), an 8-week project, was set up to study students’ perceptions of conducting tandem learning to assist their language and culture exchange. Students of both post-graduate and undergraduate programmes (N=103) from a Hong Kong SAR university were put in groups of 4 to 6 according to their availability and language preferences and met for an hour a week. While sample task sheets on a range of topics were provided to assist the language exchange, all groups were encouraged to take charge of their meeting format and choose their own topics. At the end of the project, a 19-item questionnaire, which included both open-and closed-ended questions investigating students’ perceptions of reciprocal teaching and cultural exchange, was administered. Thirty-minute individual interviews were conducted to elicit students’ views and experiences in the LACTS activities. Quantitative and qualitative data analysis showed that most students agreed that the project had enhanced their cultural awareness and helped create an inclusive and participatory learning environment. Significant differences were found in students’ confidence in speaking their targeted language after joining the scheme. The interviews also provided rich data on the variety of formats and leadership patterns in student-led meetings, which could shed light on student autonomy and future tandem language learning projects.

Keywords: autonomy, reciprocity, tandem language learning, university students

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Authors: P. F. Msomi, P. T. Nonjola, P. G. Ndungu, J. Ramontja

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In view of the projected global energy demand and increasing levels of greenhouse gases and pollutants issues have inspired an intense search for alternative new energy technologies, which will provide clean, low cost and environmentally friendly solutions to meet the end user requirements. Alkaline anion exchange membrane fuel cells (AAEMFC) have been recognized as ideal candidates for the generation of such clean energy for future stationary and mobile applications due to their many advantages. The key component of the AAEMFC is the anion exchange membrane (AEM). In this report, a series of quaternized poly (2.6 dimethyl – 1.4 phenylene oxide)/ polysulfone (QPPO/PSF) blend anionic exchange membranes (AEM) were successfully fabricated and characterized for alkaline fuel cell application. Zinc Oxide (ZnO) nanoparticles were introduced in the polymer matrix to enhance the intrinsic properties of the AEM. The characteristic properties of the QPPO/PSF and QPPO/PSF-ZnO blend membrane were investigated with X-ray diffraction (XRD), thermogravimetric analysis (TGA) scanning electron microscope (SEM) and contact angle (CA). To confirm successful quaternisation, FT-IR spectroscopy and proton nuclear magnetic resonance (1H NMR) were used. Other properties such as ion exchange capacity (IEC), water uptake, contact angle and ion conductivity (IC) were also undertaken to check if the prepared nanocomposite materials are suitable for fuel cell application. The membrane intrinsic properties were found to be enhanced by the addition of ZnO nanoparticles. The addition of ZnO nanoparticles resulted to a highest IEC of 3.72 mmol/g and a 30-fold IC increase of the nanocomposite due to its lower methanol permeability. The above results indicate that QPPO/PSF-ZnO is a good candidate for AAEMFC application.

Keywords: anion exchange membrane, fuel cell, zinc oxide nanoparticle, nanocomposite

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Authors: Abubakar O. Sulaiman

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Agriculture was the main stay of Nigeria’s economy before the oil boom of the 1970s caused a gradual but steady shift from agriculture to crude oil as the major source of revenue and foreign exchange. The economy later experienced many symptoms of the 'Dutch disease', with exchange rate appreciation and erosion of competitiveness of the non-oil tradable goods. In order to reverse the worsening economic situations -high unemployment, galloping inflation, deteriorating balance of payment, declining economic growth, and fiscal deficits among others- the government, embarked on austerity measures in 1982 and Structure Adjustment Programme (SAP) in 1986. One of the cornerstones of SAP is the diversification of the economy from oil to non-oil. In the form of stocktaking, this paper investigates the impact of non-oil revenue on economic growth in Nigeria using quarterly time-series data from 1980 to 2019. The findings revealed that a long-run relationship exists between the variables (non-oil variables) and economic growth in Nigeria. Among the variables, (agriculture revenue, manufacturing revenue, revenue from services, and company income tax) contributed substantially to economic growth. The paper recommends that the government should continue to intensify efforts and policies in the diversification of the economy as it will bring about sustainable non-oil revenue and economic growth.

Keywords: non-oil revenue, economic growth, export, long run relationship

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Authors: Yingjeng James Li, Yun Jyun Ou, Chih Chi Hsu, Chiao-Chih Hu

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A fuel cell is a device that produces electric power by reacting fuel and oxidant electrochemically. There is no pollution produced from a fuel cell if hydrogen is employed as the fuel. Therefore, a fuel cell is considered as a zero emission device and is a source of green power. A membrane electrode assembly (MEA) is the key component of a fuel cell. It is, therefore, beneficial to develop MEAs with high performance. In this study, an MEA for proton exchange membrane fuel cell (PEMFC) was prepared from a 15-micron thick reinforced PEM. The active area of such MEA is 25 cm2. Carbon supported platinum (Pt/C) was employed as the catalyst for both anode and cathode. The platinum loading is 0.6 mg/cm2 based on the sum of anode and cathode. Commercially available carbon papers coated with a micro porous layer (MPL) serve as gas diffusion layers (GDLs). The original thickness of the GDL is 250 μm. It was compressed down to 163 μm when assembled into the single cell test fixture. Polarization curves were taken by using eight different test conditions. At our standard test condition (cell: 70 °C; anode: pure hydrogen, 100%RH, 1.2 stoic, ambient pressure; cathode: air, 100%RH, 3.0 stoic, ambient pressure), the cell current density is 1250 mA/cm2 at 0.6 V, and 2400 mA/cm2 at 0.4 V. At self-humidified condition and cell temperature of 55 °C, the cell current density is 1050 mA/cm2 at 0.6 V, and 2250 mA/cm2 at 0.4 V. Hydrogen crossover rate of the MEA is 0.0108 mL/min*cm2 according to linear sweep voltammetry experiments. According to the MEA’s Pt loading and the cyclic voltammetry experiments, the Pt electrochemical surface area is 60 m2/g. The ohmic part of the impedance spectroscopy results shows that the membrane resistance is about 60 mΩ*cm2 when the MEA is operated at 0.6 V.

Keywords: fuel cell, membrane electrode assembly, proton exchange membrane, reinforced

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Authors: Chen-Yu Chen, Ping-Hsueh We, Wei-Mon Yan

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Over the past few centuries, human requirements for energy have been met by burning fossil fuels. However, exploiting this resource has led to global warming and innumerable environmental issues. Thus, finding alternative solutions to the growing demands for energy has recently been driving the development of low-carbon and even zero-carbon energy sources. Wind power and solar energy are good options but they have the problem of unstable power output due to unpredictable weather conditions. To overcome this problem, a reliable and efficient energy storage sub-system is required in future distributed-power systems. Among all kinds of energy storage technologies, the fuel cell system with hydrogen storage is a promising option because it is suitable for large-scale and long-term energy storage. The high-temperature proton exchange membrane fuel cell (HT-PEMFC) with metallic bipolar plates is a promising fuel cell system because an HT-PEMFC can tolerate a higher CO concentration and the utilization of metallic bipolar plates can reduce the cost of the fuel cell stack. However, the operating life of metallic bipolar plates is a critical issue because of the corrosion phenomenon. As a result, in this work, we try to apply different coating layer on the metal surface and to investigate the protection performance of the coating layers. The tested bipolar plates include uncoated SS304 bipolar plates, titanium nitride (TiN) coated SS304 bipolar plates and chromium nitride (CrN) coated SS304 bipolar plates. The results show that the TiN coated SS304 bipolar plate has the lowest contact resistance and through-plane resistance and has the best cell performance and operating life among all tested bipolar plates. The long-term in-situ fuel cell tests show that the HT-PEMFC with TiN coated SS304 bipolar plates has the lowest performance decay rate. The second lowest is CrN coated SS304 bipolar plate. The uncoated SS304 bipolar plate has the worst performance decay rate. The performance decay rates with TiN coated SS304, CrN coated SS304 and uncoated SS304 bipolar plates are 5.324×10⁻³ % h⁻¹, 4.513×10⁻² % h⁻¹ and 7.870×10⁻² % h⁻¹, respectively. In addition, the EIS results indicate that the uncoated SS304 bipolar plate has the highest growth rate of ohmic resistance. However, the ohmic resistance with the TiN coated SS304 bipolar plates only increases slightly with time. The growth rate of ohmic resistances with TiN coated SS304, CrN coated SS304 and SS304 bipolar plates are 2.85×10⁻³ h⁻¹, 3.56×10⁻³ h⁻¹, and 4.33×10⁻³ h⁻¹, respectively. On the other hand, the charge transfer resistances with these three bipolar plates all increase with time, but the growth rates are all similar. In addition, the effective catalyst surface areas with all bipolar plates do not change significantly with time. Thus, it is inferred that the major reason for the performance degradation is the elevated ohmic resistance with time, which is associated with the corrosion and oxidation phenomena on the surface of the stainless steel bipolar plates.

Keywords: coating layer, high-temperature proton exchange membrane fuel cell, metallic bipolar plate, performance degradation

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

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The Mongolia Stock Exchange (MSE) serves as a vehicle for executing the privatization policy of Mongolian Government as it transitioned from socialist to free market economy. It was also the intention of the Government to develop the investment and securities market through its establishment and to further boost the ailing Mongolian economy. This paper focuses on the contributions of the Mongolian Stock Exchange (MSE) to the industrial and economic development of Mongolia via Corporate fund mobilization for listed companies in Mongolia. A study of this nature is imperative as economic development in Mongolia has been accelerated by corporate investments. The key purpose of the research was to critically analyze the operations of the MSE to ascertain the extent to which the objectives for which it was established have been accomplished and to assess its contributions to industrial and economic development of Mongolia. In achieving this, secondary data on the activities of the MSE; its market capitalization over the years were collected and analyzed vis-à-vis the figures for Mongolia’s macro-economic data for the same time period to determine whether the progressive increase in market capitalization of the MSE has positively impacted on Mongolia’s economic growth. Regression analysis package was utilized in dissecting the data. It was proven that the Mongolian Stock Exchange has contributed positively and significantly to Mongolia’s economic development though not yet to the desired level. Against the findings of this research, recommendations were made to address, the problems facing the MSE and to enhance its performance and ultimately its contributions to industrial and economic development of the Mongolian nation.

Keywords: Corporate Fund Mobilization, Gross Domestic Product (GDP), market capitalization, purchasing power, stock exchange

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Authors: Mohammad Q. M. Momani

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The objective of this study is to examine whether the value relevance of ownership structure changed as the Amman Stock Exchange market conditions changed. Using data from 2005 to 2014, the study finds that the performance of portfolios that contain firms with concentrated ownership structure declines significantly during the post-crisis period. These portfolios exhibit poor performance relative to portfolios that contain firms with dispersed ownership structure during the post-crisis period. The results argue that uninspired performance of the Amman Stock Exchange during the post-crisis period, increased the incentives for controlling shareholders to expropriate. Investors recognized these incentives and discounted firms that were more likely to expropriate.

Keywords: value relevance, ownership structure, portfolio performance, Jordan, ASE

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Authors: Ishan Arora, Anurag Rathore

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The primary objective of this work was to study the effect of resin chemistry, pH and molarity of binding and elution buffer on aggregate removal using Cation Exchange Chromatography and find the optimum conditions which can give efficient aggregate removal with minimum loss of yield. Four different resins were used for carrying out the experiments: Fractogel EMD SO3-(S), Fractogel EMD COO-(M), Capto SP ImpRes and S Ceramic HyperD. Runs were carried out on the AKTA Avant system. Design of Experiments (DOE) was used for analysis using the JMP software. The dependence of the yield obtained using different resins on the operating conditions was studied. Success has been achieved in obtaining yield greater than 90% using Capto SP ImpRes and Fractogel EMD COO-(M) resins. It has also been found that a change in the operating conditions generally has different effects on the yields obtained using different resins.

Keywords: aggregates, cation exchange chromatography, design of experiments, monoclonal antibodies

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Authors: Michael Leo L. Dela Cruz, Khryslyn G. Arano, Eden May B. Dela Pena, Leslie Joy Diaz

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Arsenic adsorbents were continuously being researched to ease the detrimental impact of arsenic to human health. A comparative study on the adsorption mechanism of arsenic on iron modified nanoclays was undertaken. Iron intercalated montmorillonite (Fe-MMT) and montmorillonite supported zero-valent iron (ZVI-MMT) were the adsorbents investigated in this study. Fe-MMT was produced through ion-exchange by replacing the sodium intercalated ions in montmorillonite with iron (III) ions. The iron (III) in Fe-MMT was later reduced to zero valent iron producing ZVI-MMT. Adsorption study was performed by batch technique. Obtained data were fitted to intra-particle diffusion, pseudo-first order, and pseudo-second-order models and the Elovich equation to determine the kinetics of adsorption. The adsorption of arsenic on Fe-MMT followed the intra-particle diffusion model with intra-particle rate constant of 0.27 mg/g-min0.5. Arsenic was found to be chemically bound on ZVI-MMT as suggested by the pseudo-second order and Elovich equation. The derived pseudo-second order rate constant was 0.0027 g/mg-min with initial adsorption rate computed from the Elovich equation was 113 mg/g-min.

Keywords: adsorption mechanism, arsenic, montmorillonite, zero valent iron

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Authors: Ishan Arora, Anurag Rathore

Abstract:

The primary objective of this work was to study the effect of resin chemistry, pH and molarity of binding and elution buffer on aggregate removal using Cation Exchange Chromatography and find the optimum conditions which can give efficient aggregate removal with minimum loss of yield. Four different resins were used for carrying out the experiments: Fractogel EMD SO3-(S), Fractogel EMD COO-(M), Capto SP ImpRes and S Ceramic HyperD. Runs were carried out on the AKTA Avant system. Design of Experiments (DOE) was used for analysis using the JMP software. The dependence of the yield obtained using different resins on the operating conditions was studied. Success has been achieved by obtaining yield greater than 90% using Capto SP ImpRes and Fractogel EMD COO-(M) resins. It has also been found that a change in the operating conditions generally has different effects on the yields obtained using different resins.

Keywords: aggregates, cation exchange chromatography, design of experiments, monoclonal antibodies

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Authors: Gultekin Gurcay

Abstract:

The objective of this study was to examine the relationship between transformational leadership and innovative work behavior and to evaluate the mediating role of leader-member exchange relationships (LMX) on the assumed relationship. This study has focused on the suggestion that LMX might emerge through transformational leadership behaviors and thus could mediate the relationship between transformational leadership and innovative behavior. A cross-sectional survey research has been conducted on the relationship these leadership approaches and their impact on organizational HRM-outcomes has been conducted on two organizations operating in the technical sector in Istanbul-Turkey. The results of the research have supported the hypotheses. Transformational leadership was positively related to the innovative behaviors and LMX emerged to mediate that relationship.

Keywords: innovative leadership, leader-member exchange, transformational leadership, Turkey

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Authors: Thomas Chinwe Urama, Patrick Oseloka Ezepue, Peters Chimezie Nnanwa

Abstract:

This paper investigates the universal financial dynamics in two dominant stock markets in Sub-Saharan Africa, through an in-depth analysis of the cross-correlation matrix of price returns in Nigerian Stock Market (NSM) and Johannesburg Stock Exchange (JSE), for the period 2009 to 2013. The strength of correlations between stocks is known to be higher in JSE than that of the NSM. Particularly important for modelling Nigerian derivatives in the future, the interactions of other stocks with the oil sector are weak, whereas the banking sector has strong positive interactions with the other sectors in the stock exchange. For the JSE, it is the oil sector and beverages that have greater sectorial correlations, instead of the banks which have the weaker correlation with other sectors in the stock exchange.

Keywords: random matrix theory, cross-correlations, emerging markets, option pricing, eigenvalues eigenvectors, inverse participation ratios and implied volatility

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Authors: Fatma Ismailia, Malek Saihi

Abstract:

This research provides an explanation of exchange incentives on the Tunis stock market from a behavioural point of view. The elucidation of the anomalies of excessive volume of transactions and that of excessive volatility cannot be done without the recourse to the psychological aspects of investors. The excessive confidence has been given the predominant role for the explanation of these phenomena. Indeed, when investors store increments, they become more confident about the precision of their private information and their exchange activities then become more aggressive on the subsequent periods. These overconfident investors carry out the intensive exchanges leading to an increase of securities volatility. The objective of this research is to identify whether the trading volume and the excessive volatility of securities observed on the Tunisian stock market come from the excessive exchange of overconfident investors. We use a sample of daily observations over the period January 1999 - October 2007 and we relied on various econometric tests including the VAR model. Our results provide evidence on the importance to consider the bias of overconfidence in the analysis of Tunis stock exchange specificities. The results reveal that the excess of confidence has a major impact on the trading volume while using daily temporal intervals.

Keywords: overconfidence, trading volume, efficiency, rationality, anomalies, behavioural finance, cognitive biases

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Authors: Rancy Chepchirchir Kosgey, John Olukuru

Abstract:

This study examines the impact of introduction of futures trading on the spot price volatility in the commodity market. The paper considers the United States of America, South Africa and Ethiopian economies. Three commodities i.e. coffee, maize and wheat from New York Merchantile Exchange, South African Futures Exchange and Ethiopian Commodity Exchange are analyzed. ARCH LM test is used to check for heteroskedasticity and GARCH and EGARCH are used to check for the behavior of volatility between the pre- and post-futures periods. For all the three economies, the results indicate presence of the ARCH effect in the log returns. For conditional and unconditional variances; spot price volatility for coffee has decreased after futures trading in all the economies and the EGARCH has also shown reduction in persistence of volatility in the post-futures period in the three economies; while that of maize has reduced for the Ethiopian economy while there has been an increase in both the US and South African economies. For wheat, the conditional variance has been found to rise in the post-futures period in all the three economies.

Keywords: derivatives, futures exchange, agricultural commodities, spot price volatility

Procedia PDF Downloads 412