Search results for: commercialization in business of industry of the Europe and Ukraine
6163 Financial Innovations for Companies Offered by Banks: Polish Experience
Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala
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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation
Procedia PDF Downloads 3056162 A Comparison of Methods for Neural Network Aggregation
Authors: John Pomerat, Aviv Segev
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Recently, deep learning has had many theoretical breakthroughs. For deep learning to be successful in the industry, however, there need to be practical algorithms capable of handling many real-world hiccups preventing the immediate application of a learning algorithm. Although AI promises to revolutionize the healthcare industry, getting access to patient data in order to train learning algorithms has not been easy. One proposed solution to this is data- sharing. In this paper, we propose an alternative protocol, based on multi-party computation, to train deep learning models while maintaining both the privacy and security of training data. We examine three methods of training neural networks in this way: Transfer learning, average ensemble learning, and series network learning. We compare these methods to the equivalent model obtained through data-sharing across two different experiments. Additionally, we address the security concerns of this protocol. While the motivating example is healthcare, our findings regarding multi-party computation of neural network training are purely theoretical and have use-cases outside the domain of healthcare.Keywords: neural network aggregation, multi-party computation, transfer learning, average ensemble learning
Procedia PDF Downloads 1646161 Assessing the Environmental Efficiency of China’s Power System: A Spatial Network Data Envelopment Analysis Approach
Authors: Jianli Jiang, Bai-Chen Xie
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The climate issue has aroused global concern. Achieving sustainable development is a good path for countries to mitigate environmental and climatic pressures, although there are many difficulties. The first step towards sustainable development is to evaluate the environmental efficiency of the energy industry with proper methods. The power sector is a major source of CO2, SO2, and NOx emissions. Evaluating the environmental efficiency (EE) of power systems is the premise to alleviate the terrible situation of energy and the environment. Data Envelopment Analysis (DEA) has been widely used in efficiency studies. However, measuring the efficiency of a system (be it a nation, region, sector, or business) is a challenging task. The classic DEA takes the decision-making units (DMUs) as independent, which neglects the interaction between DMUs. While ignoring these inter-regional links may result in a systematic bias in the efficiency analysis; for instance, the renewable power generated in a certain region may benefit the adjacent regions while the SO2 and CO2 emissions act oppositely. This study proposes a spatial network DEA (SNDEA) with a slack measure that can capture the spatial spillover effects of inputs/outputs among DMUs to measure efficiency. This approach is used to study the EE of China's power system, which consists of generation, transmission, and distribution departments, using a panel dataset from 2014 to 2020. In the empirical example, the energy and patent inputs, the undesirable CO2 output, and the renewable energy (RE) power variables are tested for a significant spatial spillover effect. Compared with the classic network DEA, the SNDEA result shows an obvious difference tested by the global Moran' I index. From a dynamic perspective, the EE of the power system experiences a visible surge from 2015, then a sharp downtrend from 2019, which keeps the same trend with the power transmission department. This phenomenon benefits from the market-oriented reform in the Chinese power grid enacted in 2015. The rapid decline in the environmental efficiency of the transmission department in 2020 was mainly due to the Covid-19 epidemic, which hinders economic development seriously. While the EE of the power generation department witnesses a declining trend overall, this is reasonable, taking the RE power into consideration. The installed capacity of RE power in 2020 is 4.40 times that in 2014, while the power generation is 3.97 times; in other words, the power generation per installed capacity shrank. In addition, the consumption cost of renewable power increases rapidly with the increase of RE power generation. These two aspects make the EE of the power generation department show a declining trend. Incorporation of the interactions among inputs/outputs into the DEA model, this paper proposes an efficiency evaluation method on the basis of the DEA framework, which sheds some light on efficiency evaluation in regional studies. Furthermore, the SNDEA model and the spatial DEA concept can be extended to other fields, such as industry, country, and so on.Keywords: spatial network DEA, environmental efficiency, sustainable development, power system
Procedia PDF Downloads 1156160 Extraction, Recovery and Bioactivities of Chlorogenic Acid from Unripe Green Coffee Cherry Waste of Coffee Processing Industry
Authors: Akkasit Jongjareonrak, Supansa Namchaiya
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Unripe green coffee cherry (UGCC) accounting about 5 % of total raw material weight receiving to the coffee bean production process and is, in general, sorting out and dump as waste. The UGCC is known to rich in phenolic compounds such as caffeoylquinic acids, feruloylquinic acids, chlorogenic acid (CGA), etc. CGA is one of the potent bioactive compounds using in the nutraceutical and functional food industry. Therefore, this study aimed at optimization the extraction condition of CGA from UGCC using Accelerated Solvent Extractor (ASE). The ethanol/water mixture at various ethanol concentrations (50, 60 and 70 % (v/v)) was used as an extraction solvent at elevated pressure (10.34 MPa) and temperatures (90, 120 and 150 °C). The recovery yield of UGCC crude extract, total phenolic content, CGA content and some bioactivities of UGCC extract were investigated. Using of ASE at lower temperature with higher ethanol concentration provided higher CGA content in the UGCC crude extract. The maximum CGA content was observed at the ethanol concentration of 70% ethanol and 90 °C. The further purification of UGCC crude extract gave a higher purity of CGA with a purified CGA yield of 4.28 % (w/w, of dried UGCC sample) containing 72.52 % CGA equivalent. The antioxidant activity and antimicrobial activity of purified CGA extract were determined. The purified CGA exhibited the 2,2-Diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activity at 0.88 mg Trolox equivalent/mg purified CGA sample. The antibacterial activity against Escherichia coli was observed with the minimum inhibitory concentration (MIC) at 3.12 mg/ml and minimum bactericidal concentration (MBC) at 12.5 mg/ml. These results suggested that using of high concentration of ethanol and low temperature under elevated pressure of ASE condition could accelerate the extraction of CGA from UGCC. The purified CGA extract could be a promising alternative source of bioactive compound using for nutraceutical and functional food industry.Keywords: bioactive, chlorogenic acid, coffee, extraction
Procedia PDF Downloads 2616159 The Socio-Economic Impact of the English Leather Glove Industry from the 17th Century to Its Recent Decline
Authors: Frances Turner
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Gloves are significant physical objects, being one of the oldest forms of dress. Glove culture is part of every facet of life; its extraordinary history encompasses practicality, and symbolism reflecting a wide range of social practices. The survival of not only the gloves but associated articles enables the possibility to analyse real lives, however so far this area has been largely neglected. Limited information is available to students, researchers, or those involved with the design and making of gloves. There are several museums and independent collectors in England that hold collections of gloves (some from as early as 16th century), machinery, tools, designs and patterns, marketing materials and significant archives which demonstrate the rich heritage of English glove design and manufacturing, being of national significance and worthy of international interest. Through a research glove network which now exists thanks to research grant funding, there is potential for the holders of glove collections to make connections and explore links between these resources to promote a stronger understanding of the significance, breadth and heritage of the English glove industry. The network takes an interdisciplinary approach to bring together interested parties from academia, museums and manufacturing, with expert knowledge of the production, collections, conservation and display of English leather gloves. Academics from diverse arts and humanities disciplines benefit from the opportunities to share research and discuss ideas with network members from non-academic contexts including museums and heritage organisations, industry, and contemporary designers. The fragmented collections when considered in entirety provide an overview of English glove making since earliest times and those who wore them. This paper makes connections and explores links between these resources to promote a stronger understanding of the significance, breadth and heritage of the English Glove industry. The following areas are explored: current content and status of the individual museum collections, potential links, sharing of information histories, social and cultural and relationship to history of fashion design, manufacturing and materials, approaches to maintenance and conservation, access to the collections and strategies for future understanding of their national significance. The facilitation of knowledge exchange and exploration of the collections through the network informs organisations’ future strategies for the maintenance, access and conservation of their collections. By involving industry in the network, it is possible to ensure a contemporary perspective on glove-making in addition to the input from heritage partners. The slow fashion movement and awareness of artisan craft and how these can be preserved and adopted for glove and accessory design is addressed. Artisan leather glove making was a skilled and significant industry in England that has now declined to the point where there is little production remaining utilising the specialist skills that have hardly changed since earliest times. This heritage will be identified and preserved for future generations of the rich cultural history of gloves may be lost.Keywords: artisan glove-making skills, English leather gloves, glove culture, the glove network
Procedia PDF Downloads 1336158 Resequencing and Genomic Study of Wild Coffea Arabica Unveils Genetic Groups at Its Origin and Their Geographic Distribution
Authors: Zate Zewdneh Zana
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Coffea arabica (Arabica coffee), a cornerstone of the global beverage industry, necessitates rigorous genetic conservation due to its economic significance and genetic complexity. In this study, we performed whole-genome resequencing of wild species collected from its birthplace, Ethiopia. Advanced Illumina sequencing technology facilitated the mapping of a high percentage of clean reads to the C. arabica reference genome, revealing a substantial number of genetic variants, predominantly SNPs. Our comprehensive analysis not only uncovered a notable distribution of genomic variants across the coffee genome but also identified distinct genetic groups through phylogenetic and population structure analyses. This genomic study provides invaluable insights into the genetic diversity of C. arabica, highlighting the potential of identified SNPs and InDels in enhancing our understanding of key agronomic traits. The findings contribute significantly to genetic studies and support strategic breeding and conservation efforts essential for sustaining the global coffee industry.Keywords: population genetics, wild species, evolutionary study, coffee plant
Procedia PDF Downloads 476157 Interactive Systems in B2B Marketing: Perceptions of Sales Configurator Use
Authors: Tommi Mahlamaki, Mika Ojala
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Digitalization is changing our lives in many ways. As consumers, we are accustomed using different online interactive sales systems. However, while many online selling sites offer systems that have evolved from simple selling functions, the change has not been as rapid in business-to-business (B2B) markets. This is because many B2B companies rely on personal sales and personal communication. The main objective of this research is to clarify perceptions towards digital interactive sales systems and, more specifically, sales configurators. It also aims to identify trends towards the use of sales configurators. To reach these objectives, an online questionnaire was created that targets Finnish B2B distributors who are, by definition, part of B2B markets. The questionnaire was sent to 340 distributors, and it was returned by 150 respondents. The results showed that 82% of respondents had heard about sales configurators, and 64% had used them. The results also showed that 48% of respondents felt that the use of sales configurators would increase in the future, while only 2% felt they would be used less. The future use of sales configurators was not seen as affecting the level of personal sales. In light of the results, we recommend that B2B companies create marketing strategies that integrate and complement traditional sales processes with digital interactive systems.Keywords: digitalization, interactive systems, marketing, sales process
Procedia PDF Downloads 2496156 Understanding Loc Trade in Kashmir: References of Global Episodes in Arena of Economy and Confidence Building Measure
Authors: Aarushi Baloria, Joshina Jamwal
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The paper attempts to understand the genesis of the Kashmir conflict, the LoC trade, and the various challenges which impede LoC trade. The paper further understands how this trade assists in mitigating tension between the countries and act as a conference building measure (CBM). The paper discusses later on the positive aspects of LoC trade with the help of statistical data like increase in state's economy along with negatives like smuggling of arms, drugs, swapping and interchanging of Hawala money and other unconstitutional activities like terrorism that took place on trade points across LoC. Moreover, the paper also mentioned in the international context; the episodes of Ireland of Europe, Palestine of Middle East, Uganda of Africa not only as transaction step but also as a peace channel between the fragmented parts. Thus, the paper, in a nutshell, reflects how the trade across LoC benefited in various psychological, economic, and political reasons, and it is worth taking risk, taking its overall positive things into consideration.Keywords: drugs, economy, international, peace, psychological, trade
Procedia PDF Downloads 1386155 Investigation on Strength Properties of Concrete Using Industrial Waste as Supplementary Cementitious Material
Authors: Ravi Prasad Darapureddi
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The use of industrial waste in making concrete reduce the consumption of natural resources and pollution of the environment. These materials possess problems of disposal and health hazards. An attempt has been made to use paper and thermal industrial wastes such as lime sludge and flyash. Present investigation is aimed at the utilization of Lime Sludge and Flyash as Supplementary Cementitious Materials (SCM) and influence of these materials on strength properties of concrete. Thermal industry waste fly ash is mixed with lime sludge and used as a replacement to cement at different proportions to obtain the strength properties and compared with ordinary concrete prepared without any additives. Grade of concrete prepared was M₂₅ designed according to Indian standard method. Cement has been replaced by paper industry waste and fly ash in different proportions such as 0% (normal concrete), 10%, 20%, and 30% by weight. Mechanical properties such as compressive strength, splitting tensile strength and flexural strength were assessed. Test results indicated that the use of lime sludge and Fly ash in concrete had improved the properties of concrete. Better results were observed at 20% replacement of cement with these additives.Keywords: supplementary cementitious materials, lime sludge, fly ash, strength properties
Procedia PDF Downloads 1996154 Conditions Required for New Sector Emergence: Results from a Systematic Literature Review
Authors: Laurie Prange-Martin, Romeo Turcan, Norman Fraser
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The aim of this study is to identify the conditions required and describe the process of emergence for a new economic sector created from new or established businesses. A systematic literature review of English-language studies published from 1983 to 2016 was conducted using the following databases: ABI/INFORM Complete; Business Source Premiere; Google Scholar; Scopus; and Web of Science. The two main terms of business sector and emergence were used in the systematic literature search, along with another seventeen synonyms for each these main terms. From the search results, 65 publications met the requirements of an empirical study discussing and reporting the conditions of new sector emergence. A meta-analysis of the literature examined suggest that there are six favourable conditions and five key individuals or groups required for new sector emergence. In addition, the results from the meta-analysis showed that there are eighteen theories used in the literature to explain the phenomenon of new sector emergence, which can be grouped in three study disciplines. With such diversity in theoretical frameworks used in the 65 empirical studies, the authors of this paper propose the development of a new theory of sector emergence.Keywords: economic geography, new sector emergence, economic diversification, regional economies
Procedia PDF Downloads 2716153 Virtual Team Management in Companies and Organizations
Authors: Asghar Zamani, Mostafa Falahmorad
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Virtualization is established to combine and use the unique capabilities of employees to increase productivity and agility to provide services regardless of location. Adapting to fast and continuous change and getting maximum access to human resources are reasons why virtualization is happening. The distance problem is solved by information. Flexibility is the most important feature of virtualization, and information will be the main focus of virtualized companies. In this research, we used the Covid-19 opportunity window to assess the productivity of the companies that had been going through more virtualized management before the Covid-19 in comparison with those that just started planning on developing infrastructures on virtual management after the crises of pandemic occurred. The research process includes financial (profitability and customer satisfaction) and behavioral (organizational culture and reluctance to change) metrics assessment. In addition to financial and CRM KPIs, a questionnaire is devised to assess how manager and employees’ attitude has been changing towards the migration to virtualization. The sample companies and questions are selected by asking from experts in the IT industry of Iran. In this article, the conclusion is that companies open to virtualization based on accurate strategic planning or willing to pay to train their employees for virtualization before the pandemic are more agile in adapting to change and moving forward in recession. The prospective companies in this research, not only could compensate for the short period loss from the first shock of the Covid-19, but they could also foresee new needs of their customer sooner than other competitors, resulting in the need to employ new staff for executing the emerging demands. Findings were aligned with the literature review. Results can be a wake-up call for business owners especially in developing countries to be more resilient toward modern management styles instead of continuing with traditional ones.Keywords: virtual management, virtual organization, competitive advantage, KPI, profit
Procedia PDF Downloads 856152 Lung Parasites in Stone Martens (Martes foina L.) from Bulgaria
Authors: Vassilena Dakova, Mariana Panayotova-Pencheva
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The present work focused on the study of pulmonary helminth-fauna of the stone marten in Bulgaria in terms of which the data are little. For the purpose, four stone martens were helminthologically necropsied according to the common technique. In addition, some of the injured lung parts were investigated after their boiling in lactic acid and subsequent compression. Four nematode species from different families of order Strongylida and Trichocephalida were found in the lungs. These were Crenosoma petrowi Morosov, 1939; Eucoleus aerophilus Creplin, 1839; Filaroides martis Werner, 1782 and Sobolevingylus petrowi Romanov, 1952. Some of the parasite structures with taxonomic importance were measured and described. According to our best knowledge, the species F. martis and S. petrowi are recorded for the first time as a part of the helminth-fauna of Southeast Europe and Bulgaria in particular.Keywords: Bulgaria, Crenosoma petrowi, Eucoleus aerophilus, Filaroides martis, lung parasites, Sobolevingylus petrowi, stone martens
Procedia PDF Downloads 1486151 Elemental Graph Data Model: A Semantic and Topological Representation of Building Elements
Authors: Yasmeen A. S. Essawy, Khaled Nassar
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With the rapid increase of complexity in the building industry, professionals in the A/E/C industry were forced to adopt Building Information Modeling (BIM) in order to enhance the communication between the different project stakeholders throughout the project life cycle and create a semantic object-oriented building model that can support geometric-topological analysis of building elements during design and construction. This paper presents a model that extracts topological relationships and geometrical properties of building elements from an existing fully designed BIM, and maps this information into a directed acyclic Elemental Graph Data Model (EGDM). The model incorporates BIM-based search algorithms for automatic deduction of geometrical data and topological relationships for each building element type. Using graph search algorithms, such as Depth First Search (DFS) and topological sortings, all possible construction sequences can be generated and compared against production and construction rules to generate an optimized construction sequence and its associated schedule. The model is implemented in a C# platform.Keywords: building information modeling (BIM), elemental graph data model (EGDM), geometric and topological data models, graph theory
Procedia PDF Downloads 3856150 Exploring Methods for Urbanization of 'Village in City' in China: A Case Study of Hangzhou
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After the economic reform in 1978, the urbanization in China has grown fast. It urged cities to expand in an unprecedented high speed. Villages around were annexed unprepared, and it turned out to be a new type of community called 'village in city.' Two things happened here. First, the locals gave up farming and turned to secondary industry and tertiary industry, as a result of losing their land. Secondly, attracted by the high income in cities and low rent here, plenty of migrants came into the community. This area is important to a city in rapid growth for providing a transitional zone. But thanks to its passivity and low development, 'village in city' has caused lots of trouble to the city. Densities of population and construction are both high, while facilities are severely inadequate. Unplanned and illegal structures are built, which creates a complex mixed-function area and leads to a bad residential area. Besides, the locals have a strong property right consciousness for the land. It holds back the transformation and development of the community. Although the land capitalization can bring significant benefits, it’s inappropriate to make a great financial compensation to the locals, and considering the large population of city migrants, it’s important to explore the relationship among the 'village in city,' city immigrants and the city itself. Taking the example of Hangzhou, this paper analyzed the developing process, functions spatial distribution, industrial structure and current traffic system of 'village in city.' Above the research on the community, this paper put forward a common method to make urban planning through the following ways: adding city functions, building civil facilities, re-planning functions spatial distribution, changing the constitution of local industry and planning new traffic system. Under this plan, 'village in city' finally can be absorbed into cities and make its own contribution to the urbanization.Keywords: China, city immigrant, urbanization, village in city
Procedia PDF Downloads 2176149 Exploring Legal Liabilities of Mining Companies for Human Rights Abuses: Case Study of Mongolian Mine
Authors: Azzaya Enkhjargal
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Context: The mining industry has a long history of human rights abuses, including forced labor, environmental pollution, and displacement of communities. In recent years, there has been growing international pressure to hold mining companies accountable for these abuses. Research Aim: This study explores the legal liabilities of mining companies for human rights abuses. The study specifically examines the case of Erdenet Mining Corporation (EMC), a large mining company in Mongolia that has been accused of human rights abuses. Methodology: The study used a mixed-methods approach, which included a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Findings: The study found that mining companies can be held liable for human rights abuses under a variety of regulatory frameworks, including soft law and self-regulatory instruments in the mining industry, international law, national law, and corporate law. The study also found that there are a number of challenges to holding mining companies accountable for human rights abuses, including the lack of effective enforcement mechanisms and the difficulty of proving causation. Theoretical Importance: The study contributes to the growing body of literature on the legal liabilities of mining companies for human rights abuses. The study also provides insights into the challenges of holding mining companies accountable for human rights abuses. Data Collection: The data for the study was collected through a variety of methods, including a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Analysis Procedures: The data was analyzed using a variety of methods, including content analysis, thematic analysis, and case study analysis. Conclusion: The study concludes that mining companies can be held liable for human rights abuses under a variety of legal and regulatory frameworks. There are positive developments in ensuring greater accountability and protection of affected communities and the environment in countries with a strong economy. Regrettably, access to avenues of redress is reasonably low in less developed countries, where the governments have not implemented a robust mechanism to enforce liability requirements in the mining industry. The study recommends that governments and mining companies take more ambitious steps to enhance corporate accountability.Keywords: human rights, human rights abuses, ESG, litigation, Erdenet Mining Corporation, corporate social responsibility, soft law, self-regulation, mining industry, parent company liability, sustainability, environment, UN
Procedia PDF Downloads 826148 The Analysis of Regulation on Sustainability in the Financial Sector in Lithuania
Authors: Dalia Kubiliūtė
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Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.Keywords: financial, legal, regulatory, sustainability
Procedia PDF Downloads 1056147 Failure Mode Effect and Criticality Analysis Based Maintenance Planning through Traditional and Multi-Criteria Decision Making Approach for Aluminium Wire Rolling Mill Plant
Authors: Nilesh Pancholi, Mangal Bhatt
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This paper highlights comparative results of traditional FMECA and multi-factor decision-making approach based on “Technique for Order Preference by Similarity to Ideal Solution (TOPSIS)” for aluminum wire rolling mill plant. The suggested study is carried out to overcome the limitations of FMECA by assigning the scores against each failure modes in crisp values to evaluate the criticalities of the failure modes without uncertainty. The primary findings of the paper are that sudden impact on the rolls seems to be most critical failure cause and high contact stresses due to rolling & sliding action of mesh to be least critical failure cause. It is suggested to modify the current control practices with proper maintenance strategy based on achieved maintainability criticality index (MCI). The outcome of the study will be helpful in deriving optimized maintenance plan to maximize the performance of continuous process industry.Keywords: reliability, maintenance, FMECA, TOPSIS, process industry
Procedia PDF Downloads 2816146 Analysis of Marketing: Frozen Fruit and Vegetables Sector in Turkey
Authors: Pınar Aydın, Şule Turhan
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Today, with the change of people's consumption habits, the importance of frozen fruit and vegetable sector has been increased. In Turkey, sector is based on export. It is growing very fast and external demand is constantly increasing. About 80% of frozen fruits and vegetables produced in Turkey are being exported. More than 90% of the exports go to European Union countries. About 49% of frozen fruits and vegetables in Turkey is being exported to Germany, England and France. In the sector which the abroad demand is continuously increasing, although it has been estimated that around 25% of the average annual growth rate, the domestic consumption is very low. Although the frozen food consumption per person in Turkey is about %2 of United States, the growing rate of the sector is higher than the United States and Europe. This situation reflects that it is such a sector that has a growing demand in both domestic and foreign markets.Keywords: frozen food, fruit and vegetable sector, exports, Turkey
Procedia PDF Downloads 3386145 Construction Contractor Pre-Qualification Using Multi-Attribute Utility Theory: A Multiplicative Approach
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
Procedia PDF Downloads 4406144 Developing a Process and Cost Model for Xanthan Biosynthesis from Bioethanol Production Waste Effluents
Authors: Bojana Ž. Bajić, Damjan G. Vučurović, Siniša N. Dodić, Jovana A. Grahovac, Jelena M. Dodić
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Biosynthesis of xanthan, a microbial polysaccharide produced by Xanthomonas campestris, is characterized by the possibility of using non-specific carbohydrate substrates, which means different waste effluents can be used as a basis for the production media. Potential raw material sources for xanthan production come from industries with large amounts of waste effluents that are rich in compounds necessary for microorganism growth and multiplication. Taking into account the amount of waste effluents generated by the bioethanol industry and the fact that it contains a high inorganic and organic load it is clear that they represent a potential environmental pollutants if not properly treated. For this reason, it is necessary to develop new technologies which use wastes and wastewaters of one industry as raw materials for another industry. The result is not only a new product, but also reduction of pollution and environmental protection. Biotechnological production of xanthan, which consists of using biocatalysts to convert the bioethanol waste effluents into a high-value product, presents a possibility for sustainable development. This research uses scientific software developed for the modeling of biotechnological processes in order to design a xanthan production plant from bioethanol production waste effluents as raw material. The model was developed using SuperPro Designer® by using input data such as the composition of raw materials and products, defining unit operations, utility consumptions, etc., while obtaining capital and operating costs and the revenues from products to create a baseline production plant model. Results from this baseline model can help in the development of novel biopolymer production technologies. Additionally, a detailed economic analysis showed that this process for converting waste effluents into a high value product is economically viable. Therefore, the proposed model represents a useful tool for scaling up the process from the laboratory or pilot plant to a working industrial scale plant.Keywords: biotechnology, process model, xanthan, waste effluents
Procedia PDF Downloads 3516143 Influence of Processing Parameters in Selective Laser Melting on the Microstructure and Mechanical Properties of Ti/Tin Composites With in-situ and ex-situ Reinforcement
Authors: C. Sánchez de Rojas Candela, A. Riquelme, P. Rodrigo, M. D. Escalera-Rodríguez, B. Torres, J. Rams
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Selective laser melting is one of the most commonly used AM techniques. In it, a thin layer of metallic powder is deposited, and a laser is used to melt selected zones. The accumulation of layers, each one molten in the preselected zones, gives rise to the formation of a 3D sample with a nearly arbitrary design. To ensure that the properties of the final parts match those of the powder, all the process is carried out in an inert atmosphere, preferentially Ar, although this gas could be substituted. Ti6Al4V alloy is widely used in multiple industrial applications such as aerospace, maritime transport and biomedical, due to its properties. However, due to the demanding requirements of these applications, greater hardness and wear resistance are necessary, together with a better machining capacity, which currently limits its commercialization. To improve these properties, in this study, Selective Laser Melting (SLM) is used to manufacture Ti/TiN metal matrix composites with in-situ and ex-situ titanium nitride reinforcement where the scanning speed is modified (from 28.5 up to 65 mm/s) to study the influence of the processing parameters in SLM. A one-step method of nitriding the Ti6Al4V alloy is carried out to create in-situ TiN reinforcement in a reactive atmosphere and it is compared with ex-situ composites manufactured by previous mixture of both the titanium alloy powder and the ceramic reinforcement particles. The microstructure and mechanical properties of the different Ti/TiN composite materials have been analyzed. As a result, the existence of a similar matrix has been confirmed in in-situ and ex-situ fabrications and the growth mechanisms of the nitrides have been studied. An increase in the mechanical properties with respect to the initial alloy has been observed in both cases and related to changes in their microstructure. Specifically, a greater improvement (around 30.65%) has been identified in those manufactured by the in-situ method at low speeds although other properties such as porosity must be improved for their future industrial applicability.Keywords: in-situ reinforcement, nitriding reaction, selective laser melting, titanium nitride
Procedia PDF Downloads 826142 A Work-Individual-Family Inquiry on Mental Health and Family Responsibility of Dealers Employed in Macau Gaming Industry
Authors: Tak Mau Simon Chan
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While there is growing reflection of the adverse impacts instigated by the flourishing gaming industry on the physical health and job satisfaction of those who work in Macau casinos, there is also a critical void in our understanding of the mental health of croupiers and how casino employment interacts with the family system. From a systemic approach, it would be most effective to examine the ‘dealer issues’ collectively and offer assistance to both the individual dealer and the family system of dealers. Therefore, with the use of a mixed method study design, the levels of anxiety, depression and sleeping quality of a sample of 1124 dealers who are working in Macau casinos have been measured in the present study, and 113 dealers have been interviewed about the impacts of casino employment on their family life. This study presents some very important findings. First, the quantitative study indicates that gender is a significant predictor of depression and anxiety levels, whilst lower income means less quality sleep. The Pearson’s correlation coefficients show that as the Zung Self-rating Anxiety Scale (ZSAS) scores increase, the Zung Self-rating Depression Scale (ZSDS) and Pittsburgh Sleep Quality Index (PSQI) scores will also simultaneously increase. Higher income, therefore, might partly explain for the reason why mothers choose to work in the gaming industry even with shift work involved and a stressful work environment. Second, the findings from the qualitative study show that aside from the positive impacts on family finances, the shift work and job stress to some degree negatively affect family responsibilities and relationships. There are resultant family issues, including missed family activities, and reduced parental care and guidance, marital intimacy, and communication with family members. Despite the mixed views on the gender role differences, the respondents generally agree that female dealers have more family and child-minding responsibilities at home, and thus it is more difficult for them to balance work and family. Consequently, they may be more vulnerable to stress at work. Thirdly, there are interrelationships between work and family, which are based on a systemic inquiry that incorporates work- individual- family. Poor physical and psychological health due to shift work or a harmful work environment could affect not just work performance, but also life at home. Therefore, a few practice points about 1) work-family conflicts in Macau; 2) families-in- transition in Macau; and 3) gender and class sensitivity in Macau; are provided for social workers and family practitioners who will greatly benefit these families, especially whose family members are working in the gaming industry in Macau. It is concluded that in addressing the cultural phenomenon of “dealer’s complex” in Macau, a systemic approach is recommended that addresses both personal psychological needs and family issue of dealers.Keywords: family, work stress, mental health, Macau, dealers, gaming industry
Procedia PDF Downloads 3076141 In vitro Evaluation of Prebiotic Potential of Wheat Germ
Authors: Lígia Pimentel, Miguel Pereira, Manuela Pintado
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Wheat germ is a by-product of wheat flour refining. Despite this by-product being a source of proteins, lipids, fibres and complex carbohydrates, and consequently a valuable ingredient to be used in Food Industry, only few applications have been studied. The main goal of this study was to assess the potential prebiotic effect of natural wheat germ. The prebiotic potential was evaluated by in vitro assays with individual microbial strains (Lactobacillus paracasei L26 and Lactobacillus casei L431). A simulated model of the gastrointestinal digestion was also used including the conditions present in the mouth (artificial saliva), oesophagus–stomach (artificial gastric juice), duodenum (artificial intestinal juice) and ileum. The effect of natural wheat germ and wheat germ after digestion on the growth of lactic acid bacteria was studied by growing those microorganisms in de Man, Rogosa and Sharpe (MRS) broth (with 2% wheat germ and 1% wheat germ after digestion) and incubating at 37 ºC for 48 h with stirring. A negative control consisting of MRS broth without glucose was used and the substrate was also compared to a commercial prebiotic fructooligosaccharides (FOS). Samples were taken at 0, 3, 6, 9, 12, 24 and 48 h for bacterial cell counts (CFU/mL) and pH measurement. Results obtained showed that wheat germ has a stimulatory effect on the bacteria tested, presenting similar (or even higher) results to FOS, when comparing to the culture medium without glucose. This was demonstrated by the viable cell counts and also by the decrease on the medium pH. Both L. paracasei L26 and L. casei L431 could use these compounds as a substitute for glucose with an enhancement of growth. In conclusion, we have shown that wheat germ stimulate the growth of probiotic lactic acid bacteria. In order to understand if the composition of gut bacteria is altered and if wheat germ could be used as potential prebiotic, further studies including faecal fermentations should be carried out. Nevertheless, wheat germ seems to have potential to be a valuable compound to be used in Food Industry, mainly in the Bakery Industry.Keywords: by-products, functional ingredients, prebiotic potential, wheat germ
Procedia PDF Downloads 4916140 A Deviation Analysis of Career Anchors and Domain Specialization in Management Education
Authors: Santosh Kumar Sharma, Imran Ahmed Khan
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Context: In the field of management education, it has been observed that students often have discrepancies between their career anchors and their chosen domain of specialization. This misalignment creates challenges for students during their summer internships and job placements in the corporate sector. The outcome is that some students opt to change their career track or even leave the management profession altogether. This situation poses a significant concern in terms of the overall human capital in the industry. However, there is a notable lack of substantial literature addressing this specific context. Therefore, this current study aims to contribute to the global discourse on management education and its impact on human resource management. Research Aim: The objective of this study is to analyze the deviation between career anchors and domain specialization in the context of management education in India. Methodology: This study adopts an exploratory approach. Data is collected from a substantial sample of post-graduate students who are currently pursuing management education from a renowned business school in India. The data collection process is followed by a descriptive analysis. Findings: The findings of this research contribute to the professional development of management students by highlighting the significance of aligning career anchors with their chosen domain of specialization. This alignment is crucial for enhancing human capital, which in turn impacts various factors within the Indian economy. Theoretical Importance: This study addresses the gap in the existing literature by exploring the relationship between career anchors and domain specialization in management education. By shedding light on this issue, it contributes to theoretical knowledge in the field and provides insights into the importance of career alignment within the management profession.Keywords: management education, specialization, human resource management, India
Procedia PDF Downloads 726139 An Overview of Risk Types and Risk Management Strategies to Improve Financial Performance
Authors: Azar Baghtaghi
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Financial risk management is critically important as it enables companies to maintain stability and profitability amidst market fluctuations and unexpected events. It involves the precise identification of risks that could impact investments, assets, and potential revenues. By implementing effective risk management strategies, companies can insure themselves against adverse market changes and prevent potential losses. In today's era, where markets are highly complex and influenced by various factors such as macroeconomic policies, exchange rate fluctuations, and natural disasters, the need for meticulous planning to cope with these uncertainties is more pronounced. Ultimately, financial risk management means being prepared for the future and the ability to sustain business in changing environments. A company capable of managing its risks not only achieves sustainable profitability but also gains the confidence of shareholders, investors, and business partners, enhancing its competitive position in the market. In this article, the types of financial risk and risk management strategies for improving financial performance were investigated. By identifying the risks stated in this article and their evaluation techniques, it is possible to improve the organization's financial performance.Keywords: strategy, risk, risk management, financial performance.
Procedia PDF Downloads 166138 Implementation of ISO 26262: Issues and Challenges
Authors: Won Jung, Azianti Ismail
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Functional safety is about electrical, electronics, and programmable electronic safety-related system focuses on the potential risk of malfunction which may have a significant impact on the safety of humans and/or the environment based on IEC 61508. In November 2011, the automotive industry has been introduced to automotive functional safety ISO 26262 which addresses the complete safety installation from sensor to actuator with its technical as well as management issues. Nowadays, most of the modern automobiles are equipped with embedded electronic systems which include many Electronic Controller Units (ECUs), electronic sensors, signals, bus systems and coding. Due to upcoming more sophisticated systems installed in automobiles, the need to carry out detailed safety is very crucial. Assimilation of existing practices with this new standard is a major challenge for the automotive industry in reducing redundancy, time and resources. Therefore, this paper will analyze the research trends on pre and post introduction of ISO 26262 through publications as well as to take a glimpse in the activities for implementing this standard by the automotive manufacturers around the world. It is going to highlight issues and challenges which have been discussed among the experts in this field. Even though it will take some time for this standard to be fully implemented, the benefits from this implementation will raise the competitiveness in the global automotive market.Keywords: ISO 26262, automotive, functional safety, implementation, standard, challenges
Procedia PDF Downloads 4056137 DFT and SCAPS Analysis of an Efficient Lead-Free Inorganic CsSnI₃ Based Perovskite Solar Cell by Modification of Hole Transporting Layer
Authors: Seyedeh Mozhgan Seyed Talebi, Chih -Hao Lee
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With an abrupt rise in the power conservation efficiency (PCE) of perovskite solar cells (PSCs) within a short span of time, the toxicity of lead was raised as a major hurdle in the path toward their commercialization. In the present research, a systematic investigation of the electrical and optical characteristics of the all-inorganic CsSnI₃ perovskite absorber layer was performed with the Vienna Ab Initio Simulation Package (VASP) using the projector-augmented wave method. The presence of inorganic halide perovskite offers the advantages of enhancing the degradation resistance of the device, reducing the cost of cells, and minimizing the recombination of generated carriers. The simulated standard device using a 1D simulator like solar cell capacitance simulator (SCAPS) version 3308 involves FTO/n-TiO₂/CsSnI₃ Perovskite absorber/Spiro OmeTAD HTL/Au contact layer. The variation in the device design key parameters such as the thickness and defect density of perovskite absorber, hole transport layer and electron transport layer and interfacial defects are examined with their impact on the photovoltaic characteristic parameters. The effect of an increase in operating temperature from 300 K to 400 K on the performance of CsSnI3-based perovskite devices is also investigated. The optimized standard device at room temperature shows the highest PCE of 25.18 % with FF of 75.71 %, Voc of 0.96 V, and Jsc of 34.67 mA/cm². The outcomes and interpretation of different inorganic Cu-based HTLs presence, such as CuSCN, Cu₂O, CuO, CuI, SrCu₂O₂, and CuSbS₂, here represent a critical avenue for the possibility of fabricating high PCE perovskite devices made of stable, low-cost, efficient, safe, and eco-friendly all-inorganic materials like CsSnI₃ perovskite light absorber.Keywords: CsSnI₃, hole transporting layer (HTL), lead-free perovskite solar cell, SCAPS-1D software
Procedia PDF Downloads 896136 Statistical Approach to Identify Stress and Biases Impairing Decision-Making in High-Risk Industry
Authors: Ph. Fauquet-Alekhine
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Decision-making occurs several times an hour when working in high risk industry and an erroneous choice might have undesirable outcomes for people and the environment surrounding the industrial plant. Industrial decisions are very often made in a context of acute stress. Time pressure is a crucial stressor leading decision makers sometimes to boost up the decision-making process and if it is not possible then shift to the simplest strategy. We thus found it interesting to update the characterization of the stress factors impairing decision-making at Chinon Nuclear Power Plant (France) in order to optimize decision making contexts and/or associated processes. The investigation was based on the analysis of reports addressing safety events over the last 3 years. Among 93 reports, those explicitly addressing decision-making issues were identified. Characterization of each event was undertaken in terms of three criteria: stressors, biases impairing decision making and weaknesses of the decision-making process. The statistical analysis showed that biases were distributed over 10 possibilities among which the hypothesis confirmation bias was clearly salient. No significant correlation was found between criteria. The analysis indicated that the main stressor was time pressure and highlights an unexpected form of stressor: the trust asymmetry principle of the expert. The analysis led to the conclusion that this stressor impaired decision-making from a psychological angle rather than from a physiological angle: it induces defensive bias of self-esteem, self-protection associated with a bias of confirmation. This leads to the hypothesis that this stressor can intervene in some cases without being detected, and to the hypothesis that other stressors of the same kind might occur without being detected too. Further investigations addressing these hypotheses are considered. The analysis also led to the conclusion that dealing with these issues implied i) decision-making methods being well known to the workers and automated and ii) the decision-making tools being well known and strictly applied. Training was thus adjusted.Keywords: bias, expert, high risk industry, stress.
Procedia PDF Downloads 1136135 Human Smuggling and Turkey
Authors: Perihan Hazel Kaya, Mustafa Göktuğ Kaya
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Turkey has been a busy destination for immigration and it will always be as it is the geographical and cultural exit door of the East and the entrance door of the West. Among these immigrations, we can see the victims of human trafficking, human smuggling, refugees and those who came here to work and live. Human smuggling, which is one of the movements of illegal immigration, is the specific subject of this work. The fact that our country lies on the transportation destinations between the continents of Asia, Europe and Africa, the crime of human smuggling is highly committed in our country. The aim of the victims of human smuggling is to go to a more developed country to have higher standards of living, to get a better job and to escape from the economic and social instability of their countries. The human smuggling, which has gathered pace due to the improvements in communication and transportation, is not a regional issue and has become one of the most important problems for almost all countries. Accordingly, the reasons, methods and extent of human smuggling will be dealt firstly. Later, it will be studied why Turkey is preffered in human smuggling. Finally, statistical data will be given to show how much human smuggling has gone far in Turkey and the study will be finished with that what is being done and what can be done to prevent it.Keywords: human smuggling, immigration, immigrator, human trafficking, Turkey
Procedia PDF Downloads 4096134 Utilization of Chrysanthemum Flowers in Textile Dyeing: Chemical and Phenolic Analysis of Dyes and Fabrics
Authors: Muhammad Ahmad
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In this research, Chrysanthemum (morifolium) flowers are used as a natural dye to reduce synthetic dyes and take a step toward sustainability in the fashion industry. The aqueous extraction method is utilized for natural dye extraction and then applied to silk and cotton fabric samples. The color of the dye extracted from dried chrysanthemum flowers is originally a shade of rich green, but after being washed with detergent, it turns to a shade of yellow. Traditional salt and vinegar are used as a natural mordant to fix the dye color. This study also includes a phenolic and chemical analysis of the natural dye (Chrysanthemum flowers) and the textiles (cotton and silk). Compared to cotton fabric, silk fabric has far superior chemical qualities to use in natural dyeing. The results of this study show that the Chrysanthemum flower offers a variety of colors when treated with detergent, without detergent, and with mordants. Chrysanthemum flowers have long been used in other fields, such as medicine; therefore, it is time to start using them in the fashion industry as a natural dye to lessen the harm that synthetic dyes cause.Keywords: natural dyes, Chrysanthemum flower, sustainability, textile fabrics, chemical and phenolic analysis
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