Search results for: investment avenue

Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Ahmad Dahlan, Aries Indrianto

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Conceptually, mudarabah is the practice of fiqh (jurisprudence) in the bank institutions business that became the basis of the economic development model of modern Islamic financial system. In mudarabah, profit and loss sharing mechanism are integrated between mudarabah on liability side (funding) with mudarabah on the asset side (financing). Islamic (Sharia) Bank is positioned as an intermediary institution like investment manager, although the bank is also involved in direct investment based on bank equity. In practice, mudarabah cannot be done as much as effective at financing because the dominance of debt-financing products. This is a major criticism among experts and Islamic banks practitioners. Ironically, the criticism gets less attention by practitioners of Islamic banks due to many factors. The epistemologies of Islamic banks prioritize shareholder values than stakeholder values, and social culture that has not been ready with the mudarabah totally.

Keywords: two tier mudarabah, intermediary institution, shareholder value, stakeholder value

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Authors: Mehraj Udin Ganaie, Mohammad Israrul Haque

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The purpose of this paper is to enhance the theoretical and conceptual understanding of human talent management (HTM). With the help of extensive review of existing literature, we proposed a conceptual framework and few propositions to elucidate the influential relationship of competency focus, talent pooling, talent investment, and talenting orientation with value creation of a firm. It is believed that human talent management model will enhance the understanding of talent management orientation among practitioners and academicians. Practitioners will be able to align HTM orientation with business strategy wisely to yield better value for business (Shareholders, Employees, Owners, Customers, agents, and other stakeholders). Future research directions will explain how human talent management researchers will work on the integration of relationship and contribute towards the maturity of talent management by further exploring and validating the model empirically to enhance the body of knowledge.

Keywords: talent management orientation, competency focus, talent pooling, talent investment, talenting orientation

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Authors: Mohamed Salad Ahmed

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This study explores the impact of tax evasion and avoidance on the economy of Somalia. Somalia's economy is largely informal and cash-based, making it challenging to accurately assess the extent of tax evasion and avoidance. However, it is widely recognized that these practices have significant negative effects on the economy, including reduced government revenue, an uneven playing field for businesses, corruption, and a lack of access to international aid and investment. The study focuses on identifying strategies and solutions to reduce tax evasion and avoidance and increase revenue collection. This includes improving the government's capacity to enforce tax laws and regulations, creating a more transparent and accountable tax system, and increasing public awareness of the importance of paying taxes. By addressing these issues, Somalia can improve its economic stability and enhance its ability to provide essential public services, reduce poverty, and promote growth and development. Tax evasion and avoidance have a significant negative impact on the economy of Somalia. The informal nature of the country's economy and the difficulty in accurately assessing the extent of tax evasion and avoidance make it challenging to address these issues effectively. The lack of government revenue resulting from tax evasion and avoidance makes it difficult for the government to fund essential services, leading to a decline in the quality of public services and hindering economic growth. Tax evasion and avoidance also create an uneven playing field for businesses, discourage investment, contribute to corruption, and undermine the rule of law. Additionally, tax evasion and avoidance can make it more difficult for Somalia to access international aid and investment. Addressing these issues will require a concerted effort by the government to strengthen tax collection and enforcement, as well as by the international community to provide technical assistance and support. This abstract highlights the importance of addressing tax evasion and avoidance in Somalia and the potential benefits of doing so.

Keywords: tax evasion, tax avoidance, Somalia economy, revenue collection, informal economy, corruption economic growth, investment, tax policy, tax administration, governance, private sector

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Authors: Lisa Listiana

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ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

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Authors: Miang Hong Ngerng, Noor Diyana Jasme, May Jin Theong

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Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index.

Keywords: active portfolio management, asset allocation ex-ante investment, asset class, partial lease square

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Authors: Po-Chien Li

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Despite the extant literature has hosted a wide-range of knowledge about trade shows, this knowledge base deserves to be further expanded and extended because there exist many unclear issues and overlooked topics. One area that needs much research attention is regarding the behavior and performance of booth workers at the exhibition site. Booth staffs play many key roles in interacting with booth visitors. Their exhibiting-related attitudes and motivations might have significant consequences on a firm’s exhibition results. However, to date, little research, if any, has studied how booth workers are affected and behave in the context of trade fair. The primary purpose of the current study is to develop and test a research model, derived from role theory and resource-based viewpoint, that depicts the effects of a firm’s pre-exhibition resource investment behavior on booth staff’s role perceptions and work behavior during the exhibition period. The author collects data with two survey questionnaires at two trade shows in 2016. One questionnaire is given to the booth head of an exhibiting company, asking about the firm’s resource commitment behavior prior to the exhibition period. In contrast, another questionnaire is provided for a booth worker of the same firm, requesting the individual staff to report his/her own role perceptions, degree of exhibition goal acceptance, and level of work effort during the exhibition period. The study has utilized the following analytic methods, including descriptive statistics, exploratory factor analysis, reliability analysis, and regression analysis. The results of a set of regression analyses show that a firm’s pre-exhibition resource investment behavior has significant effects on a booth staff’s exhibiting perceptions and attitudes. Specifically, an exhibitor’s resource investment behavior has impacts on the factors of booth staff’s role clarity and role conflict. In addition, a booth worker’s role clarity is related to the degree of exhibition goal acceptance, but his/her role conflict is not. Finally, a booth worker’s exhibiting effort is significantly related to the individual’s role clarity, role conflict and goal acceptance. In general, the major contribution of the current research is that it offers insight into and early evidence on the links between an exhibiting firm’s resource commitment behavior and the work perceptions and attitudes of booth staffs during the exhibition period. The current research’s results can benefit the extant literature of exhibition marketing.

Keywords: exhibition resource investment, role perceptions, goal acceptance, work effort

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Authors: Yumi Okano

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The low level of English proficiency among Japanese people has been a problem for a long time. Japanese non-native English language teachers, under social or ideological constraints, feel a gap between government policy and their language proficiency and cannot maintain high self-esteem. This paper focuses on current Japanese policies and the social context in which teachers are placed and examines the measures necessary for their positive identity formation from a macro-meso-micro perspective. Some suggestions for achieving this are: 1) Teachers should free themselves from the idea of native speakers and embrace local needs and accents, 2) Teachers should be involved in student discussions as facilitators and individuals so that they can be good role models for their students, and 3) Teachers should invest in their classrooms. 4) Guidelines and training should be provided to help teachers gain confidence. In addition to reducing the workload to make more time available, 5) expanding opportunities for investment outside the classroom into the real world is necessary.

Keywords: language teacher identity, native speakers, government policy, critical pedagogy, investment

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Authors: Satish Kumar, Nisha Goyal

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In the stock market, individual investors exhibit different kinds of behaviour. Traditional finance is built on the notion of 'homo economics', which states that humans always make perfectly rational choices to maximize their wealth and minimize risk. That is, traditional finance has concern for how investors should behave rather than how actual investors are behaving. Behavioural finance provides the explanation for this phenomenon. Although finance has been studied for thousands of years, behavioural finance is an emerging field that combines the behavioural or psychological aspects with conventional economic and financial theories to provide explanations on how emotions and cognitive factors influence investors’ behaviours. These emotions and cognitive factors are known as behavioural biases. Because of these biases, investors make irrational investment decisions. Besides, the emotional and cognitive factors, the social influence of media as well as friends, relatives and colleagues also affect investment decisions. Psychological factors influence individual investors’ investment decision making, but few studies have used qualitative methods to understand these factors. The aim of this study is to explore the behavioural factors or biases that affect individuals’ investment decision making. For the purpose of this exploratory study, an in-depth interview method was used because it provides much more exhaustive information and a relaxed atmosphere in which people feel more comfortable to provide information. Twenty investment advisors having a minimum 5 years’ experience in securities firms were interviewed. In this study, thematic content analysis was used to analyse interview transcripts. Thematic content analysis process involves analysis of transcripts, coding and identification of themes from data. Based on the analysis we categorized the statements of advisors into various themes. Past market returns and volatility; preference for safe returns; tendency to believe they are better than others; tendency to divide their money into different accounts/assets; tendency to hold on to loss-making assets; preference to invest in familiar securities; tendency to believe that past events were predictable; tendency to rely on the reference point; tendency to rely on other sources of information; tendency to have regret for making past decisions; tendency to have more sensitivity towards losses than gains; tendency to rely on own skills; tendency to buy rising stocks with the expectation that this rise will continue etc. are some of the major concerns showed by experts about investors. The findings of the study revealed 13 biases such as overconfidence bias, disposition effect, familiarity bias, framing effect, anchoring bias, availability bias, self-attribution bias, representativeness, mental accounting, hindsight bias, regret aversion, loss aversion and herding bias/media biases present in Indian investors. These biases have a negative connotation because they produce a distortion in the calculation of an outcome. These biases are classified under three categories such as cognitive errors, emotional biases and social interaction. The findings of this study may assist both financial service providers and researchers to understand the various psychological biases of individual investors in investment decision making. Additionally, individual investors will also be aware of the behavioural biases that will aid them to make sensible and efficient investment decisions.

Keywords: financial advisors, individual investors, investment decisions, psychological biases, qualitative thematic content analysis

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Authors: Zanjbeel Tabassum

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The main purpose of any economic investment is to get profit at the end. As the investment in large organizations bears complexities, investors are influenced to invest in small or medium enterprises. With the increase of global competition in terms of quality and productivity, these small and medium-sized enterprises (SMEs) are trying to convert to modern production practices using Six Sigma. But this concept is still lacking in Pakistani SMEs. There are some critical success factors which influence the successful implementation of Six Sigma. Through this paper, an attempt has been made to identify various CSF for successful implementation of Six Sigma in Pakistani SMEs with the help of a structured survey. On the basis of responses to the questionnaire, factor analysis is performed on the selected critical success factors (from literature) to prioritize the critical factors and those are rated by calculating descriptive statistics. This paper will provide a base for Pakistani SMEs and future researchers working in six sigma implementation and help them to prepare a road map to eradicate the hurdles in six sigma implementation.

Keywords: critical success factors, SMEs, Six Sigma, CSF

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Authors: Lin Po-Hsi, Sheu Ming-Thau

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Urea cycle disorders (UCD) are rare genetic metabolic disorders that compromise the body's urea cycle. Sodium phenylbutyrate (SPB) is a medication commonly administered in tablet or powder form to lower ammonia levels. Nonetheless, its high sodium content poses risks to sodium-sensitive UCD patients. This necessitates the creation of an alternative drug formulation to mitigate sodium load and optimize drug delivery for UCD patients. This study focused on crafting a novel oral drug formulation for UCD, leveraging choline bicarbonate and phenylbutyric acid. The active pharmaceutical ingredient-ionic liquids (API-ILs) and therapeutic deep eutectic systems (THEDES) were formed by combining these with choline chloride. These systems display characteristics like maintaining a liquid state at room temperature and exhibiting enhanced solubility. This in turn amplifies drug dissolution rate, permeability, and ultimately oral bioavailability. Incorporating choline-based phenylbutyric acid as a substitute for traditional SPB can effectively curtail the sodium load in UCD patients. Our in vitro dissolution experiments revealed that the ILs and DESs, synthesized using choline bicarbonate and choline chloride with phenylbutyric acid, surpassed commercial tablets in dissolution speed. Pharmacokinetic evaluations in SD rats indicated a notable uptick in the oral bioavailability of phenylbutyric acid, underscoring the efficacy of choline salt ILs in augmenting its bioavailability. Additional in vitro intestinal permeability tests on SD rats authenticated that the ILs, formulated with choline bicarbonate and phenylbutyric acid, demonstrate superior permeability compared to their sodium and acid counterparts. To conclude, choline salt ILs developed from choline bicarbonate and phenylbutyric acid present a promising avenue for UCD treatment, with the added benefit of reduced sodium load. They also hold merit in formulation engineering. The sustained-release capabilities of DESs position them favorably for drug delivery, while the low toxicity and cost-effectiveness of choline chloride signal potential in formulation engineering. Overall, this drug formulation heralds a prospective therapeutic avenue for UCD patients.

Keywords: phenylbutyric acid, sodium phenylbutyrate, choline salt, ionic liquids, deep eutectic systems, oral bioavailability

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Authors: Golamhassan Ghahramani Aghdam, Pedram Bavili Tabrizi

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The aim of this research is to investigate the relationship between accounting information and the value of the companies accepted in Tehran Exchange Market. The dependent variable in this research is the value of a company that is measured by price coefficients, and the independent variables are balance sheet information, profit and loss information, cash flow state information, and profit quality characteristics. The profit quality characteristic index is to be related and to be on-time. This research is an application research, and the research population includes all companies that are active in Tehran exchange market. The number of 194 companies was selected by the systematic method as the statistics sample in the period of 2018-2019. The multi-variable linear regression model was used for the hypotheses test. The results show that there is no relationship between accounting information and companies’ value (stock value) that can be due to the lack of efficiency of the investment market and the inability to use the accounting information by investment market activists.

Keywords: accounting information, company value, profit quality characteristics, price coefficient

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Authors: Pradyumna R., Sridhar S., A. Satyanarayana, Alok S. Chauhan, Baig M. A. H.

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Modern turbine engines for aerospace applications need precision investment cast components such as integrally cast rotors and stators, for their hot end turbine stages. Traditionally, these turbines are used as starter engines. In recent times, such engines are also used for strategic missile applications. The rotor/stator castings consist of a central hub (shrouded in some designs) over which a number of aerofoil shaped blades are located. Since these components cannot be machined, investment casting is the only available route for manufacture and hence stringent dimensional aerospace quality has to be in-built in the casting process itself. In the process of investment casting, pattern generation by injection of wax into dedicated dies/moulds is the first critical step. Traditional approach deals in producing individual blades with hub/shroud features through wax injection and assembly of a set of such injected patterns onto a dedicated and precisely manufactured fixture to wax-weld and generate an integral wax pattern, a process known as the ‘segmental approach’. It is possible to design a single-injection die with retractable metallic inserts in the case of untwisted blades of stator patterns without the shroud. Such an approach is also possible for twisted blades of rotors with highly complex design of inter-blade inserts and retraction mechanisms. DMRL has for long established methods and procedures for the above to successfully supply precision castings for various defence related projects. In recent times, urea based soluble insert approach has also been successfully applied to overcome the need to design and manufacture a precision assembly fixture, leading to substantial reduction in component development times. Present paper deals in length various approaches tried and established at DMRL to generate precision wax patterns for aerospace quality turbine rotors and stators. In addition to this, the importance of simulation in solving issues related to wax injection is also touched upon.

Keywords: die/mold and fixtures, integral rotor/stator, investment casting, wax patterns, simulation

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Authors: Angrita Denziana, Haninun, Hepiana Patmarina, Ferdinan Fatah

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The aims of the study are to determine the effect of the company's financial performance with Return on Asset (ROA) and Return on Equity (ROE) indicators. The macroeconomic factors with the indicators of Indonesia interest rate (SBI) and exchange rate on stock returns of non-financial companies listed in IDX. The results of this study indicate that the variable of ROA has negative effect on stock returns, ROE has a positive effect on stock returns, and the variable interest rate and exchange rate of SBI has positive effect on stock returns. From the analysis data by using regression model, independent variables ROA, ROE, SBI interest rate and the exchange rate very significant (p value < 0.01). Thus, all the above variable can be used as the basis for investment decision making for investment in Indonesia Stock Exchange (IDX) mainly for shares in the non- financial companies.

Keywords: ROA, ROE, interest rate, exchange rate, stock return

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Authors: Marina E. Konstantinidi

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It is now well-established that the fight against climate change and its consequences, which are a threat to mankind and to life on the planet Earth, requires that global temperature rise be kept under 1,5°C. It is also well-established that this requires humanity to put an end to the use of fossil fuels in the next decades, at the latest. However, investors in the fossil energy sector have brought or threatened to bring investment arbitration claims against States which put an end to their activity for the purpose of reaching their climate change policies’ objectives. Examples of such claims are provided by the cases of WMH v. Canada, Lone Pine v. Canada, Uniper v. Netherlands and RWE v. Netherlands. Irrespective of the outcome of the arbitration proceedings, the risk of being ordered to pay very substantial damages may have a ‘chilling effect’ on States, meaning that they may hesitate to implement the energy transition measures needed to fight climate change and its consequences. Although mitigation action is a relatively recent phenomenon, knowledge about the negative impact of fossil fuels has existed for a long time ago. In this paper, it is argued that structured documentation of evidence of knowledge about climate change may influence the adjudication of investment treaty claims and, consequently, affect the content of energy transition regulations that will be implemented. For example, as concerns investors, evidence that change in the regulatory framework towards environmental protection could have been predicted would refute the argument concerning legitimate expectations for legislative stability. By reference to relevant case law, it attempted to explore how pre-existing knowledge about climate change can be used in the adjudication of investor-State disputes and resulting from green energy transition policies.

Keywords: climate change, energy transition, international investment law, knowledge

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Authors: Mia Françoise

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This report aims to develop a strategy for assisting short-term investors to benefit from the current economic climate in South Africa by utilizing technical analysis techniques and predictive analytics. As part of this research, value investing and technical analysis principles will be combined to maximize returns for South African investors while optimizing volatility. As an emerging market, South Africa offers many opportunities for high growth in sectors where other developed countries cannot grow at the same rate. Investing in South African companies with significant growth potential can be extremely rewarding. Although the risk involved is more significant in countries with less developed markets and infrastructure, there is more room for growth in these countries. According to recent research, the offshore market is expected to outperform the local market over the long term; however, short-term investments in the local market will likely be more profitable, as the Johannesburg Stock Exchange is predicted to outperform the S&P500 over the short term. The instabilities in the economy contribute to increased market volatility, which can benefit investors if appropriately utilized. Price prediction and portfolio optimization comprise the two primary components of this methodology. As part of this process, statistics and other predictive modeling techniques will be used to predict the future performance of stocks listed on the Johannesburg Stock Exchange. Following predictive data analysis, Modern Portfolio Theory, based on Markowitz's Mean-Variance Theorem, will be applied to optimize the allocation of assets within an investment portfolio. By combining different assets within an investment portfolio, this optimization method produces a portfolio with an optimal ratio of expected risk to expected return. This methodology aims to provide a short-term investment with a stock portfolio that offers the best risk-to-return profile for stocks listed on the JSE by combining price prediction and portfolio optimization.

Keywords: financial stocks, optimized asset allocation, prediction modelling, South Africa

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Authors: Hayoung Cho, Gabi Cho

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In response to the continuing increase of demands for living environment safety, the Korean government has established and implemented various environmental health policies and set a high priority to the related R&D. However, the level of related technologies such as environmental risk assessment are still relatively low, and there is a need for detailed investment strategies in the field of environmental health research. As scientific research papers can give valuable implications on the development of a certain field, this study analyzed the global research trends in the field of environmental health over the past 10 years (2005~2015). Research topics were extracted from abstracts of the collected SCI papers using topic modeling to study the changes in research trends and discover emerging technologies. The method of topic modeling can improve the traditional bibliometric approach and provide a more comprehensive review of the global research development. The results of this study are expected to help provide insights for effective policy making and R&D investment direction.

Keywords: environmental health, paper analysis, research trends, topic modeling

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Authors: Kimberly Samaha

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In order to attract new types of investors into the emerging Bio-Economy, new methodologies to analyze investment risk are needed. The Bio-Hub Ecosystem model was developed to address a critical area of concern within the global energy market regarding the use of biomass as a feedstock for power plants. This study looked at repurposing existing biomass-energy plants into Circular Zero-Waste Bio-Hub Ecosystems. A Bio-Hub model that first targets a ‘whole-tree’ approach and then looks at the circular economics of co-hosting diverse industries (wood processing, aquaculture, agriculture) in the vicinity of the Biomass Power Plants facilities. This study modeled the economics and risk strategies of cradle-to-cradle linkages to incorporate the value-chain effects on capital/operational expenditures and investment risk reductions using a proprietary techno-economic model that incorporates investment risk scenarios utilizing the Monte Carlo methodology. The study calculated the sequential increases in profitability for each additional co-host on an operating forestry-based biomass energy plant in West Enfield, Maine. Phase I starts with the base-line of forestry biomass to electricity only and was built up in stages to include co-hosts of a greenhouse and a land-based shrimp farm. Phase I incorporates CO2 and heat waste streams from the operating power plant in an analysis of lowering and stabilizing the operating costs of the agriculture and aquaculture co-hosts. Phase II analysis incorporated a jet-fuel biorefinery and its secondary slip-stream of biochar which would be developed into two additional bio-products: 1) A soil amendment compost for agriculture and 2) A biochar effluent filter for the aquaculture. The second part of the study applied the Monte Carlo risk methodology to illustrate how co-location derisks investment in an integrated Bio-Hub versus individual investments in stand-alone projects of energy, agriculture or aquaculture. The analyzed scenarios compared reductions in both Capital and Operating Expenditures, which stabilizes profits and reduces the investment risk associated with projects in energy, agriculture, and aquaculture. The major findings of this techno-economic modeling using the Monte Carlo technique resulted in the masterplan for the first Bio-Hub to be built in West Enfield, Maine. In 2018, the site was designated as an economic opportunity zone as part of a Federal Program, which allows for Capital Gains tax benefits for investments on the site. Bioenergy facilities are currently at a critical juncture where they have an opportunity to be repurposed into efficient, profitable and socially responsible investments, or be idled and scrapped. The Bio-hub Ecosystems techno-economic analysis model is a critical model to expedite new standards for investments in circular zero-waste projects. Profitable projects will expedite adoption and advance the critical transition from the current ‘take-make-dispose’ paradigm inherent in the energy, forestry and food industries to a more sustainable Bio-Economy paradigm that supports local and rural communities.

Keywords: bio-economy, investment risk, circular design, economic modelling

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Authors: Ho-Jun Jo, Wook-Won Kim, Yong-Sung Kim, Jin-O Kim

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The application of ESS (Energy Storage Systems) in the future grids has been the solution of the microgrid. However, high investment costs necessitate accurate modeling and control strategy of ESS to justify its economic viability and further underutilization. Therefore, the reasonable control strategy for ESS which is subjected to generator and usage helps to curtail the cost of investment and operation costs. The rated frequency in power system is decreased when the load is increasing unexpectedly; hence the thermal power is operated at the capacity of only its 95% for the Governor Free (GF) to adjust the frequency as reserve (5%) in practice. The ESS can be utilized with governor at the same time for the frequency response due to characteristic of its fast response speed and moreover, the cost of ESS is declined rapidly to the reasonable price. This paper presents the ESS control strategy to extend usage of the ESS taken account into governor’s ramp rate and reduce the governor’s intervention as well. All results in this paper are simulated by MATLAB.

Keywords: micro grid, energy storage systems, ramp rate, control strategy

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Authors: Rong Yuan, Zhao Tao

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Only a handful of literature have used to non-linear model to investigate the influencing factors of greenhouse gas (GHG) emissions in China’s manufacturing sectors. And there is a limit in investigating quantitatively and systematically the mechanism of correlation between economic development and GHG emissions considering inherent differences among manufacturing sub-sectors. Considering the sectorial characteristics, the manufacturing sub-sectors with various impacts of output on GHG emissions may be explained by different development modes in each manufacturing sub-sector, such as investment scale, technology level and the level of international competition. In order to assess the environmental impact associated with any specific level of economic development and explore the factors that affect GHG emissions in China’s manufacturing industry during the process of economic growth, using the threshold Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model, this paper investigated the influence impacts of GHG emissions for China’s manufacturing sectors of different stages of economic development. A data set from 28 manufacturing sectors covering an 18-year period was used. Results demonstrate that output per capita and investment scale contribute to increasing GHG emissions while energy efficiency, R&D intensity and FDI mitigate GHG emissions. Results also verify the nonlinear effect of output per capita on emissions as: (1) the Environmental Kuznets Curve (EKC) hypothesis is supported when threshold point RMB 31.19 million is surpassed; (2) the driving strength of output per capita on GHG emissions becomes stronger as increasing investment scale; (3) the threshold exists for energy efficiency with the positive coefficient first and negative coefficient later; (4) the coefficient of output per capita on GHG emissions decreases as R&D intensity increases. (5) FDI shows a reduction in elasticity when the threshold is compassed.

Keywords: China, GHG emissions, manufacturing industry, threshold STIRPAT model

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Authors: Giselly Barros Rodrigues, Carlos Leite de Souza

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In recent years, there has been a great discussion about urbanism, the right to the city, the search for the public space and the occupation and appropriation of people in the spaces of the city. This movement happens all over the world and also in the great Brazilian metropolises. The more human-friendly city - the desirable construction of urbanity - as well as the encouragement of walking or bicycling to the detriment of cars is one of the major issues addressed by urban planners and challenges in the process of reviewing regulatory frameworks. The fact is that even if there are public spaces or space for public use in private areas - it is essential that there be, besides a project focused on the people and the use of space, a good management not to generate excess of control and consequently the segregation between different ethnicities, classes or creed. With the insertion of the Strategic Master Plan of Sao Paulo (2014), there is great incentive for them to implement - in the private spaces - of mixed uses and active facades (Services and commerce in the basement of buildings), these incentives will generate a city for people in the medium and long term. This research seeks to discuss the extent to which these spaces are democratic, what their perceptions are in relation to the space of public use in private areas and why this perception may be the one that was originally idealized. For this study, we carried out bibliographic reviews where applied research were carried out in three case studies listed in Sao Paulo. Questionnaires were also applied to the actors who gave answers regarding their perceptions and how they were approached in the places analyzed. After analyzing the material, it was verified that in the three case studies analyzed, sitting on the floor is prohibited. In the two places in Paulista Avenue (Cetenco Plaza and Square of Mall Cidade Sao Paulo) there was no problem whatsoever in relation to the clothes or attitudes of the actors in the streets of Paulista Avenue in Sao Paulo city. Different from what happened in the Itaim neighborhood (Brascan Century Plaza), with more conservative characteristics, where the actors were heavily watched by security and observed by others due to their clothes and attitudes in that area. The city of Sao Paulo is slowly changing, people are increasingly looking for places of quality in public use in their daily lives. The Strategic Master Plan of Sao Paulo (2014) and the Legislation approved in 2016 envision a city more humane and people-oriented in the future. It is up to the private sector, the public, and society to work together so that this glimpse becomes an abundant reality in every city, generating quality of life and urbanity for all.

Keywords: urbanity, space for public use, appropriation of space, segregation

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Authors: Teo Yen Nee, Tham Siew Yean, Andrew Kam Jia Yi

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There are growing concerns about the effect of increasing outward foreign direct investment (OFDI) from Malaysia. These concerns emerged when OFDI surpassed inward FDI for the first time in 2007 and in the subsequent years as well. From a theoretical point of view, the effect of OFDI on exports remains inconclusive depending on the types and/or motivations of investment. Therefore, the objective of this paper is to investigate the effect of Malaysia’s OFDI on manufacturing exports, using a reduced form exports model. The manufacturing data used in this study covered 24 manufacturing industries for the period 2003-2010. The manufacturing sector is the fourth largest sector invested by Malaysia’s OFDI abroad. However, this sector is chosen for this study because total manufacturing trade contributed significantly to Malaysia’s economy growth as reflected by its significant share in the country’s gross domestic product (138.7%) in 2013. Furthermore, Malaysia’s exports are dominated by manufacturing goods. Consequently, the drastic increase in OFDI added concerns about its impact on the country’s exports. Since OFDI activities are still relatively new in Malaysia, this study is exploratory in nature due to a lack of firm level data. Using industry level panel data, the value added of this paper is to meet the research gap by examining the effect of Malaysia’s outward FDI on manufacturing exports. Overall, the findings show that lagged inward FDI, technology development, and industry size are found to positive and significantly influence manufacturing exports as compared to other factors. The insignificant impact of OFDI on manufacturing exports suggests market seeking investment is the main form of OFDI from Malaysia and the destination markets are not served by exports before so that there are no new exports created or displacement of exports. While the results show that there is no need to worry about OFDI’s negative impact on exports, policies should be undertaken to encourage OFDI from Malaysia to create new exports for the country.

Keywords: OFDI, manufacturing industries, exports, Malaysia

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Authors: Piotr Prewysz-Kwinto

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A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: exchange traded products, financial market, investment, stock exchange

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Authors: V. Jaime Contreras, S. Iliana Nunez, S. Mario Sanchez

Abstract:

Inside a manufacturing facility, we can find innumerable automatic and manual operations, all of which are relevant to the production process. Some of these processes add more value to the products more than others. Manual operations tend to add value to the product since they can be found in the final assembly area o final operations of the process. In this areas, where a mistake or accident can increase the cost of waste exponentially. To reduce or mitigate these costly mistakes, one approach is to rely on automation to eliminate the operator from the production line - requires a hefty investment and development of specialized machinery. In our approach, the center of the solution is the operator through sufficient and adequate instrumentation, real-time reporting and ergonomics. Efficiency and reduced cycle time can be achieved thorough the integration of Internet-of-Things (IoT) ready technologies into assembly operations to enhance the ergonomics of the workstations. Augmented reality visual aids, RFID triggered personalized workstation dimensions and real-time data transfer and reporting can help achieve these goals. In this case study, a standard work cell will be used for real-life data acquisition and a simulation software to extend the data points beyond the test cycle. Three comparison scenarios will run in the work cell. Each scenario will introduce a dimension of the ergonomics to measure its impact independently. Furthermore, the separate test will determine the limitations of the technology and provide a reference for operating costs and investment required. With the ability, to monitor costs, productivity, cycle time and scrap/waste in real-time the ROI (return on investment) can be determined at the different levels to integration. This case study will help to show that ergonomics in the assembly lines can make significant impact when IoT technologies are introduced. Ergonomics can effectively reduce waste and increase productivity with minimal investment if compared with setting up to custom machine.

Keywords: augmented reality visual aids, ergonomics, real-time data acquisition and reporting, RFID triggered workstation dimensions

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Authors: Soumyadip Banerjee, Tanmoy Maity

Abstract:

The recovery of power from waste air generated by mine ventilation fans presents a promising avenue for enhancing energy efficiency in mining operations. This abstract explores the feasibility and benefits of utilizing turbine generators to capture the kinetic energy present in waste air and convert it into electrical power. By integrating turbine generator systems into mine ventilation infrastructures, the potential to harness and utilize the previously untapped energy within the waste air stream is realized. This study examines the principles underlying turbine generator technology and its application within the context of mine ventilation systems. The process involves directing waste air from ventilation fans through specially designed turbines, where the kinetic energy of the moving air is converted into rotational motion. This mechanical energy is then transferred to connected generators, which convert it into electrical power. The recovered electricity can be employed for various on-site applications, including powering mining equipment, lighting, and control systems. The benefits of power recovery from waste air using turbine generators are manifold. Improved energy efficiency within the mining environment results in reduced dependence on external power sources and associated cost savings. Additionally, this approach contributes to environmental sustainability by utilizing a previously wasted resource for power generation. Resource conservation is further enhanced, aligning with modern principles of sustainable mining practices. However, successful implementation requires careful consideration of factors such as waste air characteristics, turbine design, generator efficiency, and integration into existing mine infrastructure. Maintenance and monitoring protocols are necessary to ensure consistent performance and longevity of the turbine generator systems. While there is an initial investment associated with equipment procurement, installation, and integration, the long-term benefits of reduced energy costs and environmental impact make this approach economically viable. In conclusion, the recovery of power from waste air from mine ventilation fans using turbine generators offers a tangible solution to enhance energy efficiency and sustainability within mining operations. By capturing and converting the kinetic energy of waste air into usable electrical power, mines can optimize resource utilization, reduce operational costs, and contribute to a greener future for the mining industry.

Keywords: waste to energy, wind power generation, exhaust air, power recovery

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Authors: Sridara Tipian, Henry Skates Jr., Antika Sawadsri

Abstract:

It is widely recognized that universal design should be implemented as broadly as possible to benefit as many groups and sub groups of people within a society. In Thailand, public buildings such as public universities are obvious places where the benefits of universal design principles are easily appreciated and applied, but there are other building types such as private universities where the benefits may not be just as obvious. In these buildings, the implementation of universal design is not always achieved. There are many reasons given for this among which is the perceived additional cost of implementation. This paper argues that social capital should be taken into consideration when such decisions are being made. The paper investigates the background, principles and theories pertaining to universal design and using a case study of a private university, investigates the implementation of universal design against the background of current legislation and the perceptions of the private university administrators. The study examines the physical facilities of the case study university in the context of current theories and principles of universal design alongside the legal requirements for same. A survey of building users evaluates knowledge of and attitudes to universal design. The research shows that although administrators perceive the initial cost of investment to be prohibitive in the short term, in the long term, changes in societal values in relation to social inclusiveness are changing and that the social capital of investing in universal design should not be underestimated. The results of this study should provide greater incentive for the enforcement of the legal requirements for universal design in Thailand.

Keywords: public buildings, physical facilities, social capital private university, investment, decision making, value, enforcement, legal requirements

Procedia PDF Downloads 275

Authors: Kevin. S. Badni

Abstract:

Due to the rapid advances in the use of information technology and students’ familiarity with technology, learning styles in higher education are being reshaped. One of the technology developments that has gained considerable attention in recent years is Augmented Reality (AR), where technology is used to combine overlays of digital data on physical real-world settings. While AR is being heavily promoted for entertainment by mobile phone manufacturers, it has had little adoption in higher education due to the required upfront investment that an instructor needs to undertake in creating relevant AR applications. This paper discusses a case study that uses a low upfront development approach and examines the impact on generation-Z students’ motivation whilst studying design history over a four-semester period. Even though the upfront investment in creating the AR support was minimal, the results showed a noticeable increase in student motivation. The approach used in this paper can be easily transferred to other disciplines and other areas of design education.

Keywords: augmented reality, history, motivation, technology

Procedia PDF Downloads 165

Authors: L. A. Jennings

Abstract:

Traditional sports media marginalizes or ignores female athletes in their coverage despite increasing numbers of female participation in professional sports. However, in venues in which women and men compete in the same event, such as fighting sports, media coverage of female athletes increases dramatically. Focusing on fighting sports, including boxing, submission wrestling, kickboxing, and Mixed Martial Arts, this paper demonstrates that inclusive venues provide an avenue for female athletes to receive equitable promotion, media coverage, and sponsorship opportunities using data from ESPN, Neilson, the Fan Report, and other emerging sources. This paper further argues that transgendered and nonbinary athletes could thrive in these environments in future sporting activities.

Keywords: sports, media, athletes, sports media, women in sports

Procedia PDF Downloads 88

Authors: Ayoola Femi J., Kayode Balogun

Abstract:

In some African Countries, increase in Gross Domestic Products (GDP) has not translated to real development as expected by common-man in his household. For decades, a lot of contests on economic growth and development has been a nagging issues. The focus of this study is to analysing the effects of economic determinants/factors on economic advances in some African Countries by employing panel data analysis. The yearly (1990-2013) data were obtained from the world economic outlook database of the International Monetary Fund (IMF), for probing the effects of these variables on growth rate in some selected African countries which include: Nigeria, Algeria, Angola, Benin, Botswana, Burundi, Cape-Verde, Cameroun, Central African Republic, Chad, Republic Of Congo, Cote di’ Voire, Egypt, Equatorial-Guinea, Ethiopia, Gabon, Ghana, Guinea Bissau, Kenya, Lesotho, Madagascar, Mali, Mauritius, Morocco, Mozambique, Niger, Rwanda, Senegal, Seychelles, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Togo, Tunisia, and Uganda. The effects of 6 macroeconomic variables on GDP were critically examined. We used 37 Countries GDP as our dependent variable and 6 independent variables used in this study include: Total Investment (totinv), Inflation (inf), Population (popl), current account balance (cab), volume of imports of goods and services (vimgs), and volume of exports of goods and services (vexgs). The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of this study would be useful for individual African governments for developing a suitable and appropriate economic policies and strategies. It will also help investors to understand the economic nature and viability of Africa as a continent as well as its individual countries.

Keywords: African countries, economic growth and development, gross domestic products, static panel data models

Procedia PDF Downloads 475

Authors: Aryo Bayu Tejokusumo, Ivan Hidayat, C. Steffany Yoland

Abstract:

Wind velocity in Panjang Island, Serang, Banten, West Java, measured 10 m above sea level, is about 8 m/s. This wind velocity is potential for electricity generation using wind power. Using ten of Alstom-Haliade 150-6 W turbines, the placement of wind turbines has 7D for vertical distance and 4D for horizontal distance. Installation of the turbines is 100 m above sea level which is produces 98.64 MW per hour. This wind power generation has ecology impacts (the deaths of birds and bats and land exemption) and human impacts (aesthetics, human’s health, and potential disruption of electromagnetics interference), but it could be neglected totally, because of the position of the wind farm. The investment spent 73,819,710.00 IDR. Payback period is 2.23 years, and rate of return is 45.24%. This electricity generation using wind power in Panjang Island is suitable to install despite the high cost of investment since the profit is also high.

Keywords: wind turbine, Panjang island, renewable energy, Indonesia, offshore, power generation

Procedia PDF Downloads 662