Search results for: financial feasibility

Authors: Hatane Semuel, Hartmann H. Ngono, Sautma R. Basana

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The effect of capital structure on profitability is often debated by many financial investigators. The application of the trade-off theory and pecking order theory to analyze this relationship may generate different views. Each company has its own strategies to achieve its objectives and the external environment, such as state policy has a broad impact on the relationship with the capital structure of the company's profitability. Malaysia is the country closest to Indonesia that had a similar growth rate of GDP and industrial production with Indonesia, but Malaysia has lower inflation rate than Indonesia. This study was conducted to compare the performance of manufacturing sector between two countries when entering the era of the ASEAN Economic Community (AEC). The samples for this study were 69 companies in Indonesia and 242 companies in Malaysia that engaged in manufacturing sector. The study uses panel data analysis. The study found that the capital structure have positive effect on profitability of manufacturing company in Indonesia, and it turns to negative effect on manufacturing companies in Malaysia. The results also showed that there are significant differences in short-term debt towards profitability of manufacturing companies in the two countries Indonesia and Malaysia.

Keywords: capital structure, Indonesia, Malaysia, manufacturing, profitability

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Authors: B. Vikram, Y. Anu Leena, Y. Anu Neena, M. V. Krishna Rao, V. S. S. Kumar

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The industry is often criticized for inefficiencies in outcomes such as time and cost overruns, low productivity, poor quality and inadequate customer satisfaction. To enhance the chances for construction projects to be successful, selecting an able contractor is one of the fundamental decisions to be made by clients. The selection of the most appropriate contractor is a multi-criteria decision making (MCDM) process. In this paper, multi-attribute utility theory (MAUT) is employed utilizing the multiplicative form of utility function for ranking the prequalified contractors. Performance assessment criteria covering contracting company attributes, experience record, past performance, performance potential, financial stability and project specific criteria are considered for contractor evaluation. A case study of multistoried building for which four contractors submitted bids is considered to illustrate the applicability of multiplicative approach of MAUT to rank the prequalified contractors. The proposed MAUT decision making methodology can also be employed to other decision making situations.

Keywords: multi-attribute utility theory, construction industry, prequalification, contractor

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Authors: G. Fatima, R. Bashir, M. Saeed Akhtar, M. Malik, M. Safder, D. Nayab

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The main purpose of this quantitative study was to investigate challenges and difficulties being encountered by physically challenged students in inclusive settings at higher education level. A self-developed and validated questionnaire (Cronbach alpha: 0.879) was employed for data collected from a sample of fifty six (56) graduate and continuing students with physical disabilities (males:46, females:10) selected through snow ball sampling technique from colleges and universities of Pakistan. The participants were required to respond on three point criteria (no, to some extent, yes). Data were analyzed by using SPSS. Independent sample t-test and One Way Analysis of Variance (ANOVA) was run to compare mean scores of responses of physically challenged students on the basis of their gender, education, types of physical disability, types of institutions, provinces, and status. Frequencies were run to have an overall picture of challenges faced by physically challenged students. Major findings reflected that physically challenged students were encountering problems in transportation, accessibility, and financial support, etc. Conclusions were drawn and recommendations were made.

Keywords: physically challenged students, inclusive setting, higher education, accessibility

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Authors: Theodore Panton

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As cities in the United States experience critical housing shortages, mass timber presents the opportunity to address this crisis in housing supply while taking advantage of the carbon-positive benefits of sustainably forested wood fiber. Mass timber, however, currently has a low level of adoption in residential multifamily structures due to the risk-averse nature of change within the construction financing, Architecture / Engineering / Contracting (AEC) communities, as well as various agency approval challenges. This study demonstrates how mass timber can be used within the cost and feasibility parameters of a typical multistory residential structure and ultimately address the need for dense urban housing. This study will utilize The Garden District, a mixed-use market-rate housing project in Woodinville, Washington, as a case study to illuminate the potential of mass timber in this application. The Garden District is currently in final stages of permit approval and will commence construction in 2023. It will be the tallest dowel-laminated timber (DLT) residential structure in the United States when completed. This case study includes economic, technical, and design reference points to demonstrate the relevance of the use of this system and its ability to deliver “triple bottom line” results. In terms of results, the study establishes scalable and repeatable approaches to project design and delivery of mass timber in multifamily residential uses and includes economic data, technical solutions, and a summary of end-user advantages. This study discusses the third party tested systems for satisfying acoustical requirements within dwelling units, a key to resolving the use of mass timber within multistory residential use. Lastly, the study will also compare the mass timber solution with a comparable cold formed steel (CFS) system with a similar program, which indicates a net carbon savings of over three million tons over the life cycle of the building.

Keywords: DLT, dowell laminated timber, mass timber, market rate multifamily

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Authors: Marwa Brahim, Nicolas Brosse, Nadia Boussetta, Nabil Grimi, Eugene Vorobiev

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Rapeseed plant is an established product in France which is mainly dedicated to oil production. However, the economic potential of residues from this industry (rapeseed hulls, rapeseed cake, rapeseed straw etc.), has not been fully exploited. Currently, only low-grade applications are found in the market. As a consequence, it was deemed of interest to develop a technological platform aiming to convert rapeseed residues into value- added products. Specifically, a focus is given on the conversion of rapeseed straw into valuable molecules (e.g. lignin, glucose). Existing pretreatment technologies have many drawbacks mainly the production of sugar degradation products that limit the effectiveness of saccharification and fermentation steps in the overall scheme of the lignocellulosic biorefinery. In addition, the viability of fractionation strategies is a challenge in an environmental context increasingly standardized. Hence, the need to find cleaner alternatives with comparable efficiency by implementing physical phenomena that could destabilize the structural integrity of biomass without necessarily using chemical solvents. To meet environmental standards increasingly stringent, the present work aims to study the new pretreatment strategies involving lower consumption of chemicals with an attenuation of the severity of the treatment. These strategies consist on coupling physical treatments either high voltage electrical discharges or ultrasounds to conventional chemical pretreatments (soda and organosolv). Ultrasounds treatment is based on the cavitation phenomenon, and high voltage electrical discharges cause an electrical breakdown accompanied by many secondary phenomena. The choice of process was based on a technological feasibility study taking into account the economic profitability of the whole chain after products valorization. Priority was given to sugars valorization into bioethanol and lignin sale.

Keywords: high voltage electrical discharges, organosolv, pretreatment strategies, rapeseed straw, soda, ultrasounds

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Authors: Vashti Carissa

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The main objective of this study is to examine whether the life-cycle theory of dividends could explain the determinant of an optimal dividend policy in Indonesia. The sample that was used consists of 1,420 non-financial and non-trade, services, investment firms listed in Indonesian Stock Exchange during the period of 2005-2014. According to this finding using logistic regression, firm life-cycle measured by retained earnings as a proportion of total equity (RETE) significantly has a positive effect on the propensity of a firm pays dividend. The higher company’s earned surplus portion in its capital structure could reflect firm maturity level which will increase the likelihood of dividend payment in mature firms. This result provides an additional empirical evidence about the existence of life-cycle theory of dividends for dividend payout phenomenon in Indonesia. It can be known that dividends tend to be paid by mature firms while retention is more dominating in growth firms. From the testing results, it can also be known that majority of sample firms are being in the growth phase which proves the fact about infrequent dividend distribution in Indonesia during the ten years observation period.

Keywords: dividend, dividend policy, life-cycle theory of dividends, mix of earned and contributed capital

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Authors: Thitima Chaiyakul

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The number of previous literature regarding to the effect of asset growth and equity returns is small. Furthermore, those literature are mainly focus in the developed markets. According to my knowledge, there is no published paper examining the effect of asset growth and equity returns in the Stock Exchange of Thailand in different industry groups. The main objective in this research is the testing the effect of asset growth to equity returns in different industry groups. This study employs the data of the listed companies in the Stock Exchange of Thailand during January 1996 and December 2014. The data of financial industry are exclude from this study due to the different meaning of accounting terms. The results show the supported evidence that the asset growth positively affects the equity returns at a statistically significance level of at least 5% in Agro& Food Industry, Industrials, and Services Industry Groups. These results are inconsistent with the previous research testing in developed markets. Nevertheless, the statistically significances of the effect of asset growth to equity returns appear in some cases. In summary, the asset growth is a non-systematic risk and it is a mispricing factor.

Keywords: asset growth, asset pricing, equity returns, Thailand

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Authors: Mi Ok Kang

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This study explores the factors that motivate urban high school students from racially/ethnically diverse backgrounds to choose teaching as a future career. It draws on in-depth interviews with high school students of color living in an urban downtown located in an intermountain area in the U.S. Using the factors influencing teaching choice (FIT-Choice) model, this study examines the motivations, mobility experiences, and aspirations of participating high school students who self-identified as Latino/a, Tongan, and Chinese. The study identifies influential factors -both challenges and strengthening effects- that high school students of color experience in their career decision making. The study concludes that self-perceptions of teaching abilities, parental support, social connections, job security, and prior work with children during the internship in K-12 classroom motivated them to be a teacher. Limitations such as financial struggles of parents, the low social status of teaching career, and the low salary and benefit packages in the U.S. are among the factors that cause students to waver in or doubt their career choice.

Keywords: career development, diversifying teaching force, FIT-Choice, high school students of color

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Authors: Sezer Kefeli, Sertaç Arslan

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In this paper, supercavitationphenomena, and parameters are explained, and hydrodynamic design approaches are investigated for supercavitating torpedoes. In addition, drag force calculation methods ofsupercavitatingvehicles are obtained. Basically, conventional heavyweight torpedoes reach up to ~50 knots by classic hydrodynamic techniques, on the other hand super cavitating torpedoes may reach up to ~200 knots, theoretically. However, in order to reachhigh speeds, hydrodynamic viscous forces have to be reduced or eliminated completely. This necessity is revived the supercavitation phenomena that is implemented to conventional torpedoes. Supercavitation is a type of cavitation, after all, it is more stable and continuous than other cavitation types. The general principle of supercavitation is to separate the underwater vehicle from water phase by surrounding the vehicle with cavitation bubbles. This situation allows the torpedo to operate at high speeds through the water being fully developed cavitation. Conventional torpedoes are entitled as supercavitating torpedoes when the torpedo moves in a cavity envelope due to cavitator in the nose section and solid fuel rocket engine in the rear section. There are two types of supercavitation phase, these are natural and artificial cavitation phases. In this study, natural cavitation is investigated on the disk cavitators based on numerical methods. Once the supercavitation characteristics and drag reduction of natural cavitationare studied on CFD platform, results are verified with the empirical equations. As supercavitation parameters cavitation number (), pressure distribution along axial axes, drag coefficient (C_?) and drag force (D), cavity wall velocity (U_?) and dimensionless cavity shape parameters, which are cavity length (L_?/d_?), cavity diameter(d_ₘ/d_?) and cavity fineness ratio (〖L_?/d〗_ₘ) are investigated and compared with empirical results. This paper has the characteristics of feasibility study to carry out numerical solutions of the supercavitation phenomena comparing with empirical equations.

Keywords: CFD, cavity envelope, high speed underwater vehicles, supercavitating flows, supercavitation, drag reduction, supercavitation parameters

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Authors: Gul Ghutai, Nouman Khan Kakar

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Interest-Based Debt Disturbs The Financial, Social And Economic Structure Of The Country, Due To Which Sustainable Development Of The Masses Is Undermined. Such As, In Pakistan, The State’s Reliance Upon Interest-Based Debt (Both Foreign And National Levels) Affects The Socio-Economic Fabrication Of The Country, Thus Undermining The Sustainable Development Of Its Residents. The Objective Of The Study Is To Analyze The Effect Of Interest-Based Debt Financing On The Well-Being Of The Masses In Pakistan. The Question Arises Whether Interest-Based Debt Financing Undermines The Sustainable Development Of The Masses Of Pakistan Or Not. Moreover, Qualitative Research Methodology Is Pursued Towards Building A Conceptual Framework By Applying An Inductive Paradigm. It Is Expected That Interest-Based Debt, Whether Acquired From Foreign Or National Institutions By The Government Of Pakistan, Undermines The Sustainable Economic Growth Of The Country. However, The State Of Pakistan Is Under A Constitutional Obligation To Attain Sustainable Development Of Its Residents In Compliance With Islamic Shariah So That Eradication Of Interest From The Economy Of Pakistan Can Be Witnessed So That The Residents Of Pakistan Can Be Served To Attain Socio-Economic Well-Being Both Tangibly And Intangibly.

Keywords: socio-economic wellbeing, residents, sustainable development, interest-based debt

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Authors: Majid Al-Busafi, Almur Al-Hashmi

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The aim of this study was to identify the difficulties of planning and organizational, technical and finance facing sports clubs in the Sultanate of Oman. To answer the research questions, the researchers set up and developed a questionnaire as a major tool for the study. The researchers also conducted field visits to targeted clubs, collecting documents and publications related to the current situation of these clubs. The study sample (totaling 231) was selected of boards members of sports clubs and federations, executive staff of the Ministry of Sports Affairs, sports clubs and federations, and the media. The results indicated that the order of the difficulties faced by sports clubs is as follows: planning difficulties, the financial difficulties, technical difficulties and fourth and finally organizational difficulties. The study recommended the need to develop long-term plans and a timetable for the activities of the federations or the clubs. It is also important not to ignore to plan the qualification activities for the workers in the federations and clubs. Finally, there is a need to develop regulated forms of relations between members in the clubs. This study makes an original contribution to knowledge as it addresses needs in a country with no clear clubs systems and is informed by case studies from other countries, two of which have similar cultural contexts.

Keywords: sports club, sports federation, difficulties, plans

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Authors: Elsayed A. Elkhatib, Ahmed M. Mahdy, Mohamed L. Moharem, Mohamed O. Mesalem

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Mercury (Hg) is one of the most toxic and bio-accumulative heavy metal in the environment. However, cheap and effective in situ remediation technology is lacking. In this study, the effects of water treatment residuals nanoparticles (nWTR) on mobility, fractionation and speciation of mercury in an arid zone soil from Egypt were evaluated. Water treatment residual nanoparticles with high surface area (129 m 2 g-1) were prepared using Fritsch planetary mono mill. Scanning and transmission electron microscopy revealed that the nanoparticles of WTR nanoparticles are spherical in shape, and single particle sizes are in the range of 45 to 96 nm. The x-ray diffraction (XRD) results ascertained that amorphous iron, aluminum (hydr)oxides and silicon oxide dominating all nWTR, with no apparent crystalline iron–Al (hydr)oxides. Addition of nWTR, greatly increased the Hg sorption capacities of studied soils and greatly reduced the cumulative Hg released from the soils. Application of nWTR at 0.10 and 0.30 % rates reduced the released Hg from the soil by 50 and 85 % respectively. The power function and first order kinetics models well described the desorption process from soils and nWTR amended soils as evidenced by high coefficient of determination (R2) and low SE values. Application of nWTR greatly increased the association of Hg with the residual fraction. Meanwhile, application of nWTR at a rate of 0.3% greatly increased the association of Hg with the residual fraction (>93%) and significantly increased the most stable Hg species (Hg(OH)2 amor) which in turn enhanced Hg immobilization in the studied soils. Fourier transmission infrared spectroscopy analysis indicated the involvement of nWTR in the retention of Hg (II) through OH groups which suggest inner-sphere adsorption of Hg ions to surface functional groups on nWTR. These results demonstrated the feasibility of using a low-cost nWTR as best management practice to immobilize excess Hg in contaminated soils.

Keywords: release kinetics, Fourier transmission infrared spectroscopy, Hg fractionation, Hg species

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Authors: S. Malebary, W. Xu

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Antennas are important components that enable transmitting and receiving signals in mid-air (wireless). The radiation pattern of omni-directional (i.e., dipole) antennas, reflects the variation of power radiated by an antenna as a function of direction when transmitting. As the performance of the antenna is the same in transmitting and receiving, it also reflects the sensitivity of the antenna in different directions when receiving. The main observation when dealing with omni-directional antennas, regardless the application, is they equally radiate power in all directions in reference to Equivalent Isotropically Radiated Power (EIRP). Disseminating radio frequency signals in an omni-directional manner form a doughnut-shape-field with a cone in the middle of the elevation plane (when mounted vertically). In this paper, we investigate the existence of this physical phenomena namely silence cone zone (the zone where radiated power is nulled). First, we overview antenna types and properties that have the major impact on the shape of the electromagnetic field. Then we model various off the shelf dipoles in Matlab based on antennas’ features (dimensions, gain, operating frequency, … etc.) and compare the resulting radiation patterns. After that, we validate the existence of the null zone in Omni-directional antennas by conducting experiments and generating waveforms (using USRP1 and USRP2) at various frequencies using different types of antennas and gains in indoor/outdoor. We capture the generated waveforms around antennas' null zone in the reactive, near, and far field with a spectrum analyzer mounted on a drone, using various off the shelf antennas. We analyze the captured signals in RF-Explorer and plot the impact on received power and signal amplitude inside and around the null zone. Finally, it is concluded from evaluation and measurements the existence of null zones in Omni-directional antennas which we plan on extending this work in the near future to investigate the usability of the null zone for various applications such as localization and path finding.

Keywords: antennas, amplitude, field regions, frequency, FSPL, omni-directional, radiation pattern, RSSI, silence zone cone

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Authors: Hira Lal Gope, Hidekazu Fukai

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The aim of this study is to develop a system which can identify and sort peaberries automatically at low cost for coffee producers in developing countries. In this paper, the focus is on the classification of peaberries and normal coffee beans using image processing and machine learning techniques. The peaberry is not bad and not a normal bean. The peaberry is born in an only single seed, relatively round seed from a coffee cherry instead of the usual flat-sided pair of beans. It has another value and flavor. To make the taste of the coffee better, it is necessary to separate the peaberry and normal bean before green coffee beans roasting. Otherwise, the taste of total beans will be mixed, and it will be bad. In roaster procedure time, all the beans shape, size, and weight must be unique; otherwise, the larger bean will take more time for roasting inside. The peaberry has a different size and different shape even though they have the same weight as normal beans. The peaberry roasts slower than other normal beans. Therefore, neither technique provides a good option to select the peaberries. Defect beans, e.g., sour, broken, black, and fade bean, are easy to check and pick up manually by hand. On the other hand, the peaberry pick up is very difficult even for trained specialists because the shape and color of the peaberry are similar to normal beans. In this study, we use image processing and machine learning techniques to discriminate the normal and peaberry bean as a part of the sorting system. As the first step, we applied Deep Convolutional Neural Networks (CNN) and Support Vector Machine (SVM) as machine learning techniques to discriminate the peaberry and normal bean. As a result, better performance was obtained with CNN than with SVM for the discrimination of the peaberry. The trained artificial neural network with high performance CPU and GPU in this work will be simply installed into the inexpensive and low in calculation Raspberry Pi system. We assume that this system will be used in under developed countries. The study evaluates and compares the feasibility of the methods in terms of accuracy of classification and processing speed.

Keywords: convolutional neural networks, coffee bean, peaberry, sorting, support vector machine

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Authors: Sarah Isabelle Torres

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Using Lefebvre’s (1991) Spatial Triad, this study explores the relationship of geography and cinema and asks the question: how does geography shape the film culture of a regional city center located at the periphery of a country’s capital? This research aims to locate the contemporary film scene of the city in question, Davao City, Mindanao through contextualizing the politics and culture of its tri-people. This study shows that primarily because of local filmmakers' affection and sense of place, progressive films focusing on the tri-people and their struggles mainly due to issues on land have been born. To further understand the city’s film culture, this study maps the following areas: 1) filmmakers and cineastes, 2) films, 3) film festivals, 4) financial stakeholders, 5) institutions, and 6) screening places. From these, the researcher learned that although the local film community has established itself for decades, problems on audience, funding, and institutional support continue to persist. Aside from mapping, this study also explores Davao’s political, economic, and cultural position within the regional and the national arenas.

Keywords: cinema studies, Davao City, film culture, geography, Philippines, place, regional cinema, space

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Authors: Sherry Ann Ganase, Sandra Sookram

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In this paper, the vulnerability level to climate change is analysed using a comprehensive index, consisting of five pillars: human, social, natural, physical, and financial. A structural equation model is also applied to determine the indicators and relationships that exist between the observed environmental changes and the quality of life. Using survey data to model the results, a value of 0.382 is derived as the vulnerability level for San Pedro, where values closer to zero indicates lower vulnerability and values closer to one indicates higher vulnerability. The results showed the social pillar to be most vulnerable, with the indicator ‘participation’ ranked the highest in its cohort. Although, the environmental pillar is ranked as least vulnerable, the indicators ‘hazard’ and ‘biodiversity’ obtained scores closer to 0.4, suggesting that changes in the environment are occurring from natural and anthropogenic activities. These changes can negatively influence the quality of life as illustrated in the structural equation modelling. The study concludes by reporting on the need for collective action and participation by households in lowering vulnerability to ensure sustainable development and livelihood.

Keywords: climate change, participation, San Pedro, structural equation model, vulnerability index

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Authors: Luc Beal

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Introduction. Among the stakeholders involved in the tourist decision-making process, the accommodation provider has the potential to play a crucial role in raising awareness, disseminating information, and thus influencing the tourists’ choice of transportation. Since the early days of tourism, the accommodation provider has consistently served as the primary point of contact with the destination, and consequently, as the primary source of information for visitors. By offering accommodation and hospitality, the accommodation provider has evolved into a trusted third party, functioning as an 'ambassador' capable of recommending the finest attractions and activities available at the destination. In contemporary times, when tourists plan their trips, they make a series of consecutive decisions, with the most important decision being to lock-in the accommodation reservation for the earliest days, so as to secure a safe arrival. Consequently, tourists place their trust in the accommodation provider not only for lodging but also for recommendations regarding restaurants, activities, and more. Thus, the latter has the opportunity to inform and influence tourists well in advance of their arrival, particularly during the booking phase, namely when it comes to selecting their mode of transportation. The pressing need to reduce greenhouse gas emissions within the tourism sector presents an opportunity to underscore the influence that accommodation providers have historically exerted on tourist decision-making . Methodology A participatory research, currently ongoing in south-western France, in collaboration with a nationwide hotel group and several destination management organizations, aims at examining the factors that determine the ability of accommodation providers to influence tourist transportation choices. Additionally, the research seeks to identify the conditions that motivate accommodation providers to assume a proactive role, such as fostering customer loyalty, reduced distribution costs, and financial compensation mechanisms. A panel of hotels participated in a series of focus group sessions with tourists, with the objective of modeling the decision-making process of tourists regarding their choice of transportation mode and to identify and quantify the types and levels of incentives liable to encourage environmentally responsible choices. Individual interviews were also conducted with hotel staff, including receptionists and guest relations officers, to develop a framework for interactions with tourists during crucial decision-making moments related to transportation choices. The primary finding of this research indicates that financial incentives significantly outweigh symbolic incentives in motivating tourists to opt for eco-friendly modes of transportation. Another noteworthy result underscores the crucial impact of organizational conditions governing interactions with tourists both before and during their stay. These conditions greatly influence the ability to raise awareness at key decision-making moments and the possibility of gathering data about the chosen transportation mode during the stay. In conclusion, this research has led to the formulation of practical recommendations for accommodation providers and Destination Marketing Organizations (DMOs). These recommendations pertain to communication protocols with tourists, the collection of evidences confirming chosen transportation modes, and the implementation of necessary incentives. Through these measures, accommodation provider can assume a central role in guiding tourists towards making responsible choices in terms of transportation.

Keywords: accommodation provider, trusted third party, environmentally-friendly transportation, green house gas, tourist decision-making process

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Authors: F. Guspi, E. García

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This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. We found that the average Catalonian Academic Spin-Off is small and have not achieved the sustainability stage at year 6. On the contrary, a small group of High Growth Academic Spin-Off’s exhibit robust performance with high profits in year 6. Our results support the need to increase selectivity and support for these companies especially near year 3, because are the ones that will bring wealth and employment. University role as an investor has rigid norms and habits that impede an efficient economic return from their ASO investment. Universities with high performance on sales and employment in year 3 not always could sustain this growth in year 6 because their ASO’s are not profitable. On the contrary, profitable ASO exhibit superior performance in all measurement indicators in year 6. We advocate the need of a balanced growth (with profits) as a way to obtain subsequent continuous growth.

Keywords: Academic Spin-Off (ASO), university entrepreneurship, entrepreneurial university, high growth, New Technology Based Companies (NTBC), University Spin-Off

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Authors: Yi-Min Lan, Hung-Wen Cheng, Hsuan-Ling Chang, Jou-Ping Yu

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The study applies machine learning models to construct momentum strategies and utilizes the information coefficient as an indicator for selecting stocks with strong and weak momentum characteristics. Through this approach, the study has built investment portfolios capable of generating superior returns and conducted a thorough analysis. Compared to existing research on momentum strategies, machine learning is incorporated to capture non-linear interactions. This approach enhances the conventional stock selection process, which is often impeded by difficulties associated with timeliness, accuracy, and efficiency due to market risk factors. The study finds that implementing bidirectional momentum strategies outperforms unidirectional ones, and momentum factors with longer observation periods exhibit stronger correlations with returns. Optimizing the number of stocks in the portfolio while staying within a certain threshold leads to the highest level of excess returns. The study presents a novel framework for momentum strategies that enhances and improves the operational aspects of asset management. By introducing innovative financial technology applications to traditional investment strategies, this paper can demonstrate significant effectiveness.

Keywords: information coefficient, machine learning, momentum, portfolio, return prediction

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Authors: Adam Bereczk

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Due to persistent socioeconomic problems regarding sustainability and labour market equilibrium in Europe, the subjects of social economy gained considerable academic attention recently. At the meantime, social enterprises pursuing the double bottom line criteria, struggling to find the proper management philosophies and strategies to make their social purpose business financially sustainable. Despite the strategic management literature was developed mainly on the bases of large corporations, in the past years, the interpretation of strategy concepts became a frequent topic in scientific discussions in the case of small and medium-sized enterprises also. The topic of strategic orientations is a good example of the trend. However, less is known about the case of social enterprises, despite the fact, the majority of them are small businesses engaged in real business activities. The main purpose of this work is to give a comprehensive summary of different perspectives regarding the interpretations of strategic orientations of social enterprises. The novelty of this work is it shows the previous outcomes and models of scholars from various fields of economic science who tried to intertwine the two spheres in different forms, methodize the findings and draw attention to the shortcomings.

Keywords: social enterprises, business sustainability, strategic orientations, literature review

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Authors: Zaiton Osman, Imbarine Bujang, Azaze-Azizi Abdul Adis, Grace Phang Ing, Mohd Rizwan Abdul Majid, Izyanti Awang Razli

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Retirement forces older workers to disconnect with their previous behavioural patterns and economic position. Transition and adjustment from working life to retirement places create psychological pressure and financial distress on older workers, especially those with dependent children. Bridge employment provides a solution for older workers to continue working after retirement while transitioning into retirement slowly and smoothly. As losing the job role has a significant impact on the psychological well-being of retirees, engageing in bridge employment helps to fulfill the important psychological functions of older workers by providing an adaptive style to retirement. This study investigates the influence of retirement planning and job satisfaction on bridge employment. A self-administered questionnaire was used in this study and a total of 523 samples were collected for nine major district in Sabah. Data were analysed using Partial Least Square (PLS) method wersion 2.0. The result shows a significant relationship between retirement planning and job satisfaction on bridge employment, explaining 4.7% the variance in bridge employment and job satisfaction was found to be the strongest predictor of bridge employment.

Keywords: ageing population, retirement planning, job satisfaction, bridge employment

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Authors: Sladjana Popovic

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The concept of vertical space urbanization, defined in English as "air rights development," can be considered a mechanism for the development of public spaces in urban areas of high density. A chronological overview of the transformation of space within the vertical projection of the existing traffic infrastructure that penetrates through the central areas of a city is given in this paper through the analysis of two illustrative case studies: more advanced and recent - "Plot 13" in Boston, and less well-known European example of structures erected above highways throughout Italy - the "Pavesi auto grill" chain. The backbone of this analysis is the examination of the possibility of yielding air rights within the vertical projection of public structures in the two examples by considering the factors that would enable its potential application in capitals in Southeastern Europe. The cession of air rights in the Southeastern Europe region, as a phenomenon, has not been a recognized practice in urban planning. In a formal sense, legal and physical feasibility can be seen to some extent in local models of structures built above protected historical heritage (i.e., archaeological sites); however, the mechanisms of the legal process of assigning the right to use and develop air rights above public structures is not a recognized concept. The goal of the analysis is to shed light on the influence of institutional participants in the implementation of innovative solutions for vertical urbanization, as well as strategic planning mechanisms in public-private partnership models that would enable the implementation of the concept in the region. The main question is whether the manipulation of the vertical projection of space could provide for innovative urban solutions that overcome the deficit and excessive use of the available construction land, particularly above the dominant public spaces and traffic infrastructure that penetrate central parts of a city. Conclusions reflect upon vertical urbanization that can bridge the spatial separation of the city, reduce noise pollution and contribute to more efficient urban planning along main transportation corridors.

Keywords: air rights development, innovative urbanism, public-private partnership, transport infrastructure, vertical urbanization

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Authors: Solomon Yokamo, Dianjun Lu, Xiaoqin Chen, Huoyan Wang

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The current ‘high input-high output’ nutrient management model based on homogenous spreading over the entire soil surface remains a key challenge in China’s farming systems, leading to low fertilizer use efficiency and environmental pollution. Localized placement of fertilizer (LPF) to crop root zones has been proposed as a viable approach to boost crop production while protecting environmental pollution. To assess the potential benefits of LPF on three major crops—wheat, rice, and maize—a comprehensive meta-analysis was conducted, encompassing 85 field studies published from 2002-2023. We further validated the practicability and feasibility of one-time root zone N management based on LPF for the three field crops. The meta-analysis revealed that LPF significantly increased the yields of the selected crops (13.62%) and nitrogen recovery efficiency (REN) (33.09%) while reducing cumulative nitrous oxide (N₂O) emission (17.37%) and ammonia (NH₃) volatilization (60.14%) compared to the conventional surface application (CSA). Higher grain yield and REN were achieved with an optimal fertilization depth (FD) of 5-15 cm, moderate N rates, combined NPK application, one-time deep fertilization, and coarse-textured and slightly acidic soils. Field validation experiments showed that localized one-time root zone N management without topdressing increased maize (6.2%), rice (34.6%), and wheat (2.9%) yields while saving N fertilizer (3%) and also increased the net economic benefits (23.71%) compared to CSA. A soil incubation study further proved the potential of LPF to enhance the retention and availability of mineral N in the root zone over an extended period. Thus, LPF could be an important fertilizer management strategy and should be extended to other less-developed and developing regions to win the triple benefit of food security, environmental quality, and economic gains.

Keywords: grain yield, LPF, NH₃ volatilization, N₂O emission, N recovery efficiency

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Authors: Mehrnaz Mostafavi

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Lung cancer is one of the most harmful forms of cancer. The long-term survival rate of lung cancer patients treated by conventional modalities such as surgical resection, radiation, and chemotherapy remains far from satisfactory. Systemic drug delivery is rarely successful because only a limited amount of the chemotherapeutic drug targets lung tumor sites, even when administered at a high dose. Targeted delivery of drug molecules to organs or special sites is one of the most challenging research areas in pharmaceutical sciences. By developing colloidal delivery systems such as liposomes, micelles and nanoparticles a new frontier was opened for improving drug delivery. Nanoparticles with their special characteristics such as small particle size, large surface area and the capability of changing their surface properties have numerous advantages compared with other delivery systems. Targeted nanoparticle delivery to the lungs is an emerging area of interest.Multimodal or combination therapy represents a promising new method to fight disease. Therefore, a combination of different therapeutic strategies may be the best alternative to improve treatment outcomes for lung cancer. Photothermal therapy was proposed as a novel approach to treatment. In this work, photothermal therapy with gold nanoparticles and near infrared laser (NIR) irradiation was investigated.Four types of small (<100nm), NIR absorbing gold nanoparticles (nanospheres, nanorods) were synthesized using wet chemical methods and characterized by transmission electron microscopy, dynamic light scattering and UV-vis spectroscopy. Their synthesis and properties were evaluated, to determine their feasibility as a photothermal agent for clinical applications. In vitro cellular uptake studies of the nanoparticles into lung cancer cell lines was measured using light scattering microscopy.Small gold nanorods had good photothermal properties and the greatest cellular uptake, and were used in photothermal studies. Under 4W laser irradiation, an increase in temperature of 10°C and decrease in cell viability of up to 80% were obtained.

Keywords: photothermal, therapy, cancer, gold nanorods

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Authors: Mehravar Javid, Stacey Dershewitz, Shohreh Hashemighoochani, Artin Yousefi

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One of the most common reasons for destroying relationships is infidelity. This study was conducted to understand children's experience of infidelity in Iran. In this qualitative research, the interpretive phenomenological approach and theoretical (purposive) sampling method were used, and the data was saturated by conducting semi-structured interviews with eight offspring of families affected by infidelity. All interviews were audio recorded and analyzed on paper after implementation. Acceptability and homogeneity of data were confirmed by different methods. Eight main themes were identified from the participants' statements: description of the family atmosphere, lack of security and distrust, emotional reactions, behavioral reactions, worry about the future, financial problems, mother's physical-psychological state, and mother's coping strategies and offspring's proposed solutions. The children's experiences showed that in addition to causing irreparable harm to the wife, infidelity affected the whole family and caused the children to suffer crucial consequences such as emotional, behavioral, educational, and economic consequences and mistrust.

Keywords: consequences and hurt, infidelity, offspring, phenomenology, qualitative research

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Authors: Husnain Mushtaq, Mary Anjum, Muhammad Aleem

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The main objective of this paper is used to develop a high security in Automatic Teller Machine (ATM). In these system bankers will collect the mobile numbers from the customers and then provide a code on their mobile number. In most country existing ATM machine use the magnetic card reader. The customer is identifying by inserting an ATM card with magnetic card that hold unique information such as card number and some security limitations. By entering a personal identification number, first the customer is authenticated then will access bank account in order to make cash withdraw or other services provided by the bank. Cases of card fraud are another problem once the user’s bank card is missing and the password is stolen, or simply steal a customer’s card & PIN the criminal will draw all cash in very short time, which will being great financial losses in customer, this type of fraud has increase worldwide. So to resolve this problem we are going to provide the solution using “Mobile SMS code” and ATM “PIN code” in order to improve the verify the security of customers using ATM system and confidence in the banking area.

Keywords: PIN, inquiry, biometric, magnetic strip, iris recognition, face recognition

Procedia PDF Downloads 365

Authors: Theodorus Holtzhausen

Abstract:

With a growing number of professionals in healthcare moving freely between countries and also in general a more mobile global workforce, awareness of cultural differences have become more urgent for health care workers to apply proper care. There is a slowly emerging trend in health care due to globalisation that may create a more uniform cultural base for administering healthcare, but it is still very vulnerable to being hijacked and misdirected by major commercial interests. Veterinary clinics and medical clinics promoting alternative remedies lacking evidence based support and simultaneously practicing medicine as a science have become more common. Such ‘holistic’ clinics see these remedies more as a belief system causing no harm with minimal impact but with added financial benefit to the facility. With the inarguable acceptance and realisation of the interconnection between evolutionary aspects of cognition, knowledge and culture as a global but vulnerable cognition-gaining process affecting us all, we can see the enormous responsibility we carry. Such a responsibility for creating global well-being calling for an universally applicable ethic. Such an ethic with the potential of having significant impact on our cognition gaining process.

Keywords: veterinary health care, ethics, wellbeing, veterinary clinics

Procedia PDF Downloads 642

Authors: N. Hernández Huertas, F. Rojas Mora

Abstract:

Sounding rockets are aerospace vehicles that were developed in the mid-20th century, and since then numerous investigations have been executed with the aim of innovate in this type of technology. However, the costs associated to the production of this type of technology are usually quite high, and therefore the challenge that exists today is to be able to reduce them. In this way, the main objective of this document is to present the design process of a Colombian aerospace mission capable to reach the thermosphere using low-cost “Candy” type solid fuel engines. This mission is the latest development of the Uniandes Aerospace Project (PUA for its Spanish acronym), which is an undergraduate and postgraduate research group at Universidad de los Andes (Bogotá, Colombia), dedicated to incurring in this type of technology. In this way, the investigations that have been carried out on Candy-type solid fuel, which is a compound of potassium nitrate and sorbitol, have allowed the production of engines powerful enough to reach space, and which represents a unique technological advance in Latin America and an important development in experimental rocketry. In this way, following the engineering iterative design methodology was possible to design a 2-stage sounding rocket with 1 solid fuel engine in each one, which was then simulated in RockSim V9.0 software and reached an apogee of approximately 150 km above sea level. Similarly, a speed equal to 5 Mach was obtained, which after performing a finite element analysis, it was shown that the rocket is strong enough to be able to withstand such speeds. Under these premises, it was demonstrated that it is possible to build a high-power aerospace mission at low cost, using Candy-type solid fuel engines. For this reason, the feasibility of carrying out similar missions clearly depends on the ability to replicate the engines in the best way, since as mentioned above, the design of the rocket is adequate to reach supersonic speeds and reach space. Consequently, with a team of at least 3 members, the mission can be obtained in less than 3 months. Therefore, when publishing this project, it is intended to be a reference for future research in this field and benefit the industry.

Keywords: aerospace missions, Candy type solid propellant engines, design of solid rockets, experimental rocketry, low costs missions

Procedia PDF Downloads 111

Authors: Jorge A. Ruiz-Vanoye, Ocotlán Díaz-Parra, Alejandro Fuentes-Penna, José J. Hernández-Flores, Edith Olaco Garcia

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The Project Scheduling Problem (PSP) is a generic name given to a whole class of problems in which the best form, time, resources and costs for project scheduling are necessary. The PSP is an application area related to the project management. This paper aims at being a guide to understand PSP by presenting a survey of the general parameters of PSP: the Resources (those elements that realize the activities of a project), and the Activities (set of operations or own tasks of a person or organization); the mathematical models of the main variants of PSP and the algorithms used to solve the variants of the PSP. The project scheduling is an important task in project management. This paper contains mathematical models, resources, activities, and algorithms of project scheduling problems. The project scheduling problem has attracted researchers of the automotive industry, steel manufacturer, medical research, pharmaceutical research, telecommunication, industry, aviation industry, development of the software, manufacturing management, innovation and technology management, construction industry, government project management, financial services, machine scheduling, transportation management, and others. The project managers need to finish a project with the minimum cost and the maximum quality.

Keywords: PSP, Combinatorial Optimization Problems, Project Management; Manufacturing Management, Technology Management.

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Authors: Manu Manu, Pardha J. Saradhi, Ramana M. V. Murthy

Abstract:

Wind Energy is accepted as one of the most developed, cost effective and proven renewable energy technologies to meet increasing electricity demands in a sustainable manner. Preliminary assessment studies along Indian Coastline by Ministry of New and Renewable Energy have indicated prospects for development of offshore wind power along Tamil Nadu Coast, India. The commercial viability of a wind project mainly depends on wind characteristics on site. Hence, it is internationally recommended to perform site-specific wind resource assessment based on two years’ wind profile as a part of the feasibility study. Conventionally, guy wire met mast are used onshore for the collection of wind profile. Installation of similar structure in offshore requires complex marine spread and are very expensive. In the present study, an attempt is made to develop 120 m long lattice tower supported on the jacket, piled to the seabed at Rameshwaram, Tamil Nadu, India. Offshore met-masts are subjected to combined wind and hydrodynamic loads, and these lateral loads should be safely transferred to soil. The wind loads are estimated based on gust factor method, and the hydrodynamic loads are estimated by Morison’s equation along with suitable wave theory. The soil is modeled as three nonlinear orthogonal springs based on API standards. The structure configuration and optimum member sizes are obtained for extreme cyclone events. The dynamic behavior of mast under coupled wind and wave loads is also studied. The static responses of a mast with jacket type offshore platform have been studied using a frame model in SESAM. It is found from the study that the maximum displacement at the top of the mast for the random wave is 0.003 m and that of the tower for wind is 0.08 m during the steady state. The dynamic analysis results indicate that the structure is safe against coupled wind and wave loading.

Keywords: offshore wind, mast, static, aerodynamic load, hydrodynamic load

Procedia PDF Downloads 215