Search results for: transportation finance

Authors: Mahfoud Djebbar

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Stock dilution is a financial phenomenon resulting from the issue of additional shares by a company, or when holders convert their convertibles into new shares (capital increase). This issue and/or conversion enlarge the company’s share base that will result in marginal dilution (loss) for existing shareholders, and a benefit to new ones. Dilution issues have already been addressed in mainstream finance, particularly as far as information disclosure is concerned. However, in Islamic finance, stock dilution problems have not been deeply studied and the subject has not received sufficient attention from shariah-compatible firms, investors, and scholars. In this regard, this paper emphasises the forms, the effects of capital dilution on current shareholders as well as the ways and techniques of compensating them. And since the research in this field, in its Islamic perspective, is still in its infancy, the paper tries to analyse the phenomenon theoretically in detail using numerical examples, and expose some case studies of Shariah-compliant issuers of convertible Sukuk and how they compensate their existing shareholders. Finally, this study shows that the Sukuk issuers compensate old shareholders using the right of shuf’ah as a well known and practiced pre-emptive right in Islamic transactions centuries ago, as well as the ways conventional bond issuers use.

Keywords: compensating shareholders, convertible Sukuk, Islamic financial innovation, Shuf’ah

Procedia PDF Downloads 330

Authors: Ali Jamshidi, Kiyofumi Kurumisawa, Toyoharu Nawa

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Transportation infrastructure assets can be considered as backbone of transportation system. They are routinely developed and or maintained which can be used effectively for movement of passengers, commodities and providing vital services. However, the infrastructure assets construction, maintenance and rehabilitation significantly depend on non-renewable natural resources, such as carbon-based energy carriers and aggregate materials. In this study, effects of thermal properties of aggregate materials were characterized for production of hot-mix asphalt in Japan, as a case study. The results indicated that incorporation of the aggregate with lower required heat energy significantly reduces fuel consumption greenhouse gas emission, irrespective of physical property of aggregate. The results also clearly showed that as 75% high-energy limestone is replaced with low-energy limestone in producing an asphalt mixture at 180 °C, 97,879 Japanese households would be energized per annum using the saved energy without any modification in the current asphalt mixing plants.

Keywords: zero energy infrastructure, sustainable development, greenhouse gas emission, asphalt pavement

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Authors: Zareen Khan

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Islamic Banking has experienced high growth in Pakistan in recent years and has successfully survived the economic downturn of 2009-2011. Despite the increase in branch network and expansion of services, it is unclear if Islamic banks are truly following the theory and practical application of Shariah Law. This paper explores the theological basis of Islamic finance and examines the discrepancies between the theory and practice of Islamic banking using Pakistan as a case study. It discusses areas where Islamic banks lack proper Shariah compliance and analyzes the financial weaknesses of Islamic banks in terms of the services offered. Furthermore, the paper offers plausible explanations for the clientele of Islamic banks. The case study has three major findings. Firstly, most of the employees of Islamic banks come from conventional banking backgrounds and the banks have to invest in additional trainings to specialize employees in Islamic Banking. Secondly despite the efforts of State Bank of Pakistan, there is a lack of accounting and auditing standards tailored for Islamic Banking. Thirdly, majority of the clients of Islamic banks in Pakistan are accustomed to conventional banking causing the bankers to “speak the conventional banking language.” Combined, these three factors can create gaps in the practical application of Islamic finance in Islamic banks in Pakistan.

Keywords: islamic finance, comparing theory with practice, islamic banking, Pakistan

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Authors: Gihan Mosaad, Bakr Gomaa, Rana Elbadri

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Modern parts of Alexandria city lack in vibrancy, causing a number of problems such as urban areas with poor security measures as well as weak economic state. Vibrancy provides a livable, attractive and secure environments; it also boosts the city’s economy and social life. Vibrant city is a city full of energy and life. To achieve this, a number of resources are needed; namely specific urban density, the availability of alternative modes of transportation and finally diversity of land-uses. Literature review shows no comprehensive study that assesses vibrancy in the streets of modern Alexandria. This study aims to measure the vibrancy potential in Sidi-Gaber station area thought the assessment of existing resources performance. Methods include literature reviews, surveying of existing case, questionnaire as well as GIS techniques. Expected results include GIS maps defining the vibrancy potentials in land use, density and statistical study regarding public transportation use in the area.

Keywords: Alexandria, density, mixed use, transportation, vibrancy

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Authors: B. Karabuluter, O. Karaduman

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Connected-Vehicles consists of intelligent vehicles, each of which can communicate with each other. Smart Cities are the most prominent application area of intelligent vehicles that can communicate with each other. The most important goal that is desired to be realized in Smart Cities planned for facilitating people's lives is to make transportation more comfortable and safe with intelligent/autonomous/driverless vehicles communicating with each other. In order to ensure these, the city must have communication infrastructure in the first place, and the vehicles must have the features to communicate with this infrastructure and with each other. In this context, intelligent transport studies to solve all transportation and traffic problems in classical cities continue to increase rapidly. In this study, current connected-vehicle applications developed for smart cities are considered in terms of communication techniques, vehicular networking, IoT, urban transportation implementations, intelligent traffic management, road safety, self driving. Taxonomies and assessments performed in the work show the trend of studies in inter-vehicle communication systems in smart cities and they are contributing to by ensuring that the requirements in this area are revealed.

Keywords: smart city, connected vehicles, infrastructures, VANET, wireless communication, intelligent traffic management

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Authors: Chin-Chia Jane

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In a transportation network, travel time refers to the transmission time from source node to destination node, whereas reliability refers to the probability of a successful connection from source node to destination node. With an increasing emphasis on quality of service (QoS), both performance indexes are significant in the design and analysis of transportation systems. In this work, we extend the well-known flow network model for transportation networks so that travel time and reliability are integrated into the QoS measurement simultaneously. In the extended model, in addition to the general arc capacities, each intermediate node has a time weight which is the travel time for per unit of commodity going through the node. Meanwhile, arcs and nodes are treated as binary random variables that switch between operation and failure with associated probabilities. For pre-specified travel time limitation and demand requirement, the QoS of a transportation network is the probability that source can successfully transport the demand requirement to destination while the total transmission time is under the travel time limitation. This work is pioneering, since existing literatures that evaluate travel time reliability via a single optimization path, the proposed QoS focuses the performance of the whole network system. To compute the QoS of transportation networks, we first transfer the extended network model into an equivalent min-cost max-flow network model. In the transferred network, each arc has a new travel time weight which takes value 0. Each intermediate node is replaced by two nodes u and v, and an arc directed from u to v. The newly generated nodes u and v are perfect nodes. The new direct arc has three weights: travel time, capacity, and operation probability. Then the universal set of state vectors is recursively decomposed into disjoint subsets of reliable, unreliable, and stochastic vectors until no stochastic vector is left. The decomposition is made possible by applying existing efficient min-cost max-flow algorithm. Because the reliable subsets are disjoint, QoS can be obtained directly by summing the probabilities of these reliable subsets. Computational experiments are conducted on a benchmark network which has 11 nodes and 21 arcs. Five travel time limitations and five demand requirements are set to compute the QoS value. To make a comparison, we test the exhaustive complete enumeration method. Computational results reveal the proposed algorithm is much more efficient than the complete enumeration method. In this work, a transportation network is analyzed by an extended flow network model where each arc has a fixed capacity, each intermediate node has a time weight, and both arcs and nodes are independent binary random variables. The quality of service of the transportation network is an integration of customer demands, travel time, and the probability of connection. We present a decomposition algorithm to compute the QoS efficiently. Computational experiments conducted on a prototype network show that the proposed algorithm is superior to existing complete enumeration methods.

Keywords: quality of service, reliability, transportation network, travel time

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Authors: Sayyed Abdolmajid Jalaee Esfand Abadi, Sepideh Samimi

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Since one of the major difficulties to develop small manufacturing enterpriser in developing countries is the limitations of financing activities, this paper want to answer the question: “what is the role and status of micro finance in improving the labor productivity of small industries in Iran?” The results of panel data estimation show that micro finance in Iran has not yet been able to work efficiently and provide the required credit and investment. Also, reducing economy’s dependence on oil revenues reduced and increasing its reliance on domestic production and exports of industrial production can increase the productivity of workforce in Iranian small industries.

Keywords: microfinance, small manufacturing enterprises (SME), workforce productivity, Iran, panel data

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Authors: Rodrigo I. Ullauri, Santiago E. Tinajero, Omar O. Ramos, Paola R. Quintana

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The increase of CO₂ emissions in the atmosphere and its impact on climate change is a global concern. The transportation sector is a significant consumer of fossil fuels and contributes significantly to greenhouse gas emissions. The current challenge is to find ways to reduce the use of fossil fuels in transportation. In Ecuador, where 92% of electricity is generated from clean sources, the concept of e-mobility is considered an attractive alternative to address the challenge of sustainable mobility. The proposal is to migrate from combustion-powered vehicles to electric vehicles in the electric companies of Ecuador, using a methodology to standardize criteria, determine specific requirements, contrast technical characteristics, and estimate emission reductions. The results showed that there are three categories of vehicles that have electric counterparts suitable for performing activities under certain operation parameters inherent to current technology limitations but with a significant contribution to the reduction of annual CO₂ emissions.

Keywords: climate change, electro mobility, energy, sustainable transportation

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Authors: Wu Hu

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There is an increasing amount of research bridging the gap between transportation and subjective well-being (SWB). However, travel SWB research in this area is still sporadic. Therefore, we are in need of a more systematic body of work that examines travel SWB considering various work occupations, working conditions, commuting variabilities, and other related variables, and develops updated qualitative and quantitative methods to inform the transportation design. In this Super Mario Guide, the author reflects on the related elements involved with travel SWB under four categories (having Super Mario as the protagonist): 1. the starting point including variables like living conditions; 2. the commuter including the commuter’s age, gender, occupation, and others; 3. the commuting including commuting environment, vehicles, commuting time, commuting vehicles flexibility and variability and others; 4. destination including the workplace conditions, the corporate culture on working flexibility, the employer supportiveness and others. In addition, with the rise of new vehicles such as auto-driving, this research can play a significant role to better understand travel SWB and to guide the design of more efficient travelling systems so as to improve worker performance and general SWB. The author also shares thoughts on promising areas for future research.

Keywords: transportation, subjective well-being (SWB), commuting, happiness

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Authors: Oscar Conrad Pili De Jesus

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In consonance with the UN Convention on Rights for People with Disabilities, countries are mandated to provide a barrier-free environment through adherence to universal design and full participation of persons with disabilities (PWDs) in planning and implementation, but there is little action in incorporating universal design in the public environment. Travelling freely and independently is paramount to the needs of the PWDs to participate in daily activities ahead of them, and it contributes to the advancement of their inclusion in society, in which universal design is a catalyst to provide seamless access and mobility. This study aims to determine the barriers to incorporating the concept of universal design in transportation projects in Southeast Asian countries. Based on a literature review and using the accessible journey chain as a framework, barriers are identified and categorized in the components of public transport within the context of utilization of the transport mode, the built environment within the transport infrastructure, and the first and last miles of travel. Some findings in the study which constitute solutions to creating a barrier-free environment were identified as information to guide the future research agenda in efficiently incorporating universal design in transportation projects in Southeast Asian countries. The study reflected that the focus of most literature is on the built environment, noting that there is a need for future studies to investigate universal design in the context of the public transport component in the active journey chain.

Keywords: public transportation, barriers, universal design, persons with disabilities, accessible journey chain

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Authors: Ghada Moussa, Mamoud Owais

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Transit Route Network Design Problem (TrNDP) is the most important component in Transit planning, in which the overall cost of the public transportation system highly depends on it. The main purpose of this study is to develop a novel solution methodology for the TrNDP, which goes beyond pervious traditional sophisticated approaches. The novelty of the solution methodology, adopted in this paper, stands on the deterministic operators which are tackled to construct bus routes. The deterministic manner of the TrNDP solution relies on using linear and integer mathematical formulations that can be solved exactly with their standard solvers. The solution methodology has been tested through Mandl’s benchmark network problem. The test results showed that the methodology developed in this research is able to improve the given network solution in terms of number of constructed routes, direct transit service coverage, transfer directness and solution reliability. Although the set of routes resulted from the methodology would stand alone as a final efficient solution for TrNDP, it could be used as an initial solution for meta-heuristic procedures to approach global optimal. Based on the presented methodology, a more robust network optimization tool would be produced for public transportation planning purposes.

Keywords: integer programming, transit route design, transportation, urban planning

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Authors: Tuğçe Yavaş Akış

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In recent years, due to an increased use of radioactive materials, radioactive sources are constantly being transported via air, road and ocean ways for medical, industrial, research etc. purposes throughout the world. The quantity of radioactive materials transported all around the world varies from negligible quantities in shipments of consumer products to very large quantities in shipments of irradiated nuclear fuel. Radioactive materials have been less attractive for social science researchers in literature. In this study, it is aimed to discover desired flow of radioactive materials from logistics service quality (LSQ) perspective. In doing so, case study approach will be employed by using secondary data collected from one of the world’s leading transportation companies’ customer care system reports. Movement of radioactive cargoes containing IR-192 and logistics process will be analyzed with the help of logistics service quality dimensions. Based on the case study that will be conducted, interaction between dimensions, the importance of each dimension in desired flow, and their relevance with desired flow of radioactive materials will be explained. This study will bring out the desired flow of radioactive materials transportation and be a guide for all other companies, employees and researchers.

Keywords: logistics service quality, LSQ dimension , radioactive material, transportation

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Authors: Muhammad Awais Shafique, Eiji Hato

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Household trip data is of crucial importance for managing present transportation infrastructure as well as to plan and design future facilities. It also provides basis for new policies implemented under Transportation Demand Management. The methods used for household trip data collection have changed with passage of time, starting with the conventional face-to-face interviews or paper-and-pencil interviews and reaching to the recent approach of employing smartphones. This study summarizes the step-wise evolution in the travel data collection methods. It provides a comprehensive review of the topic, for readers interested to know the changing trends in the data collection field.

Keywords: computer, smartphone, telephone, travel survey

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Authors: Saeed Sayyad Hagh Shomar

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Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using questionnaire of stated preference models users’ departure time choice affected by congestion pricing plan in downtown Tehran. Experimental results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: modeling, departure time, travel timing, time of the day, congestion pricing, transportation planning

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Chiranjit Das, Sanjay Jharkharia

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This study is focused on transport mode selection under lead time variability and emissions constraint. In order to reduce the carbon emissions generation due to transportation, organization has often faced a dilemmatic choice of transport mode selection since logistic cost and emissions reduction are complementary with each other. Another important aspect of transportation decision is lead-time variability which is least considered in transport mode selection problem. Thus, in this study, we provide a comprehensive mathematical based analytical model to decide transport mode selection under emissions constraint. We also extend our work through analysing the effect of lead time variability in the transport mode selection by a sensitivity analysis. In order to account lead time variability into the model, two identically normally distributed random variables are incorporated in this study including unit lead time variability and lead time demand variability. Therefore, in this study, we are addressing following questions: How the decisions of transport mode selection will be affected by lead time variability? How lead time variability will impact on total supply chain cost under carbon emissions? To accomplish these objectives, a total transportation cost function is developed including unit purchasing cost, unit transportation cost, emissions cost, holding cost during lead time, and penalty cost for stock out due to lead time variability. A set of modes is available to transport each node, in this paper, we consider only four transport modes such as air, road, rail, and water. Transportation cost, distance, emissions level for each transport mode is considered as deterministic and static in this paper. Each mode is having different emissions level depending on the distance and product characteristics. Emissions cost is indirectly affected by the lead time variability if there is any switching of transport mode from lower emissions prone transport mode to higher emissions prone transport mode in order to reduce penalty cost. We provide a numerical analysis in order to study the effectiveness of the mathematical model. We found that chances of stock out during lead time will be higher due to the higher variability of lead time and lad time demand. Numerical results show that penalty cost of air transport mode is negative that means chances of stock out zero, but, having higher holding and emissions cost. Therefore, air transport mode is only selected when there is any emergency order to reduce penalty cost, otherwise, rail and road transport is the most preferred mode of transportation. Thus, this paper is contributing to the literature by a novel approach to decide transport mode under emissions cost and lead time variability. This model can be extended by studying the effect of lead time variability under some other strategic transportation issues such as modal split option, full truck load strategy, and demand consolidation strategy etc.

Keywords: carbon emissions, inventory theoretic model, lead time variability, transport mode selection

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Authors: Sankar Majumder

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Development of Rural Entrepreneurs requires a holistic approach involving social, economic, political, technical, and environmental and many other issues. It needs a thorough understanding of the economy and society. It's true that agricultural development, rural development and many other social and right based development programmes have resulted in the growth of income in the rural sector. The development of rural entrepreneurs is necessary to utilise these opportunities. Many programmes and policies in the spheres of organisational, financial, infrastructural and technical supports have been taken to promote rural industries. But if one looks at the growth and development of rural industrial units, especially the manufacturing units, the picture is not promising. This paper aims at analysing the possible causes and its solutions in terms of (1) Mind set of the society towards business as a livelihood; (2) Sufficiency and appropriateness of the existing organisational, financial, infrastructural and technical supports. The paper is based on secondary data on various aspects of rural enterprises and the author’s experiences in the course of his work as a practitioner in this field. Growth of units and employment in the rural industries shows that the entrepreneurs are more inclined towards trading units than towards manufacturing ventures. The growth of rural industries is constrained not by the insufficiency of the supply of finance but by the insufficient demand for finance. The task is to increase the supply of entrepreneurs by creating an entrepreneurial environment. Incubation for rural entrepreneurs is the need of the hour.

Keywords: business mind set, entrepreneurial environment, supply of finance, technical support

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Authors: Nico Rosamilia

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The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

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Authors: Parisa Hasanpour, Bahram Borooghani, Vahid Asadi

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In the current research, a catastrophic failure of a 304 stainless steel flange at pipeline transportation of ethylene in a petrochemical refinery was studied. Cracking was found in the flange after about 78840h service. Through the chemical analysis, tensile tests in addition to microstructural analysis such as optical microscopy and Scanning Electron Microscopy (SEM) on the failed part, it found that the fatigue was responsible for the fracture of the flange, which originated from bumps and depressions on the outer surface and propagated by vibration caused by the working condition.

Keywords: failure analysis, 304 stainless steel, fatigue, flange, petrochemical refinery

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Authors: Laaziz El Hassan

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The Service Network Design Problem (SNDP) is a tactical issue in freight transportation firms. The existing formulations of the problem for intermodal rail-road transportation were not always adapted to the intermodality in terms of full asset utilization and modal shift reinforcement. The objective of the article is to propose a model having a more compliant formulation with intermodality, including constraints highlighting the imperatives of asset management, reinforcing modal shift from road to rail and reducing, by the way, road mode CO2 emissions. The model is a fixed charged, path based integer nonlinear program. Its objective is to minimize services total cost while ensuring full assets utilization to satisfy freight demand forecast. The model's main feature is that it gives as output both the train sizes and the services frequencies for a planning period. We solved the program using a commercial solver and discussed the numerical results.

Keywords: intermodal transport network, service network design, model, nonlinear integer program, path-based, service frequencies, modal shift

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Authors: Hasnun Wara Khondker, M. Tarek Morad

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Bangladesh is one of the most populous countries of the world in terms of density. Dhaka, the capital of Bangladesh currently has a population of approximately 15-16 million of which around 9 million people are accommodated in Dhaka South City Corporation (DSCC) within around 109 square kilometer area. Despite having various urban issues, country is at its pick of economic progress and Dhaka is the core of this economic growth. To ensure the proper economic development and citizens wellbeing, city needs an ingenious, congestion-free public transportation network. Bus stop/bus bay is an essential infrastructure for ensuring efficient public transportation flow within the city along with enhancing accessibility, user comfort, and safety through public amenities. At present, there is no established Mass Rapid Transit or Bus Rapid Transit network within the city and therefore these private owned buses are the only major mode of mass transportation of Dhaka city. DSCC has undertaken a project to re-design several bus stops and bus bays according to the universal standard for better urban mobility and user satisfaction. This paper will analyze the design approach of the bus stop/bay infrastructure within Dhaka South, putting the research lens on sustainable urban mobility with case studies of similar kind of urban context. The paper will also study the design process with setting several parameters, i.e., accessibility, passenger safety, comfort, sustainability, etc. Moreover, this research will recommend a guideline for designing a bus stop based on the analysis of the design methods.

Keywords: bus stop, Dhaka, public transportation, sustainable urban mobility, universal accessibility, user safety

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Authors: S. Jayasinghe, R. B. N. Dissanayake

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Optimization modelling together with the Network models and Linear Programming techniques is a powerful tool in problem solving and decision making in real world applications. This study developed a mathematical model to optimize the net profit by minimizing the transportation cost. This model focuses the transportation among decentralized production plants to a centralized distribution centre and then the distribution among island wide agencies considering the customer satisfaction as a requirement. This company produces basically 9 types of food items with 82 different varieties and 4 types of non-food items with 34 different varieties. Among 6 production plants, 4 were located near the city of Mawanella and the other 2 were located in Galewala and Anuradhapura cities which are 80 km and 150 km away from Mawanella respectively. The warehouse located in the Mawanella was the main production plant and also the only distribution plant. This plant distributes manufactured products to 39 agencies island-wide. The average values and average amount of the goods for 6 consecutive months from May 2013 to October 2013 were collected and then average demand values were calculated. The following constraints are used as the necessary requirement to satisfy the optimum condition of the model; there was one source, 39 destinations and supply and demand for all the agencies are equal. Using transport cost for a kilometer, total transport cost was calculated. Then the model was formulated using distance and flow of the distribution. Network optimization and linear programming techniques were used to originate the model while excel solver is used in solving. Results showed that company requires total transport cost of Rs. 146, 943, 034.50 to fulfil the customers’ requirement for a month. This is very much less when compared with data without using the model. Model also proved that company can reduce their transportation cost by 6% when distributing to island-wide customers. Company generally satisfies their customers’ requirements by 85%. This satisfaction can be increased up to 97% by using this model. Therefore this model can be used by other similar companies in order to reduce the transportation cost.

Keywords: mathematical model, network optimization, linear programming

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Authors: Flora Babongo, Valerie Chavez

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Inferring causality from observational data is one of the fundamental subjects, especially in quantitative finance. So far most of the papers analyze additive noise models with either linearity, nonlinearity or Gaussian noise. We fill in the gap by providing a nonlinear and non-gaussian causal multiplicative noise model that aims to distinguish the cause from the effect using a two steps method based on Bayesian additive models for location, scale and shape (BAMLSS) and on causal additive models (CAM). We have tested our method on simulated and real data and we reached an accuracy of 0.86 on average. As real data, we considered the causality between financial indices such as S&P 500, Nasdaq, CAC 40 and Nikkei, and companies' log-returns. Our results can be useful in inferring causality when the data is heteroskedastic or non-injective.

Keywords: causal inference, DAGs, BAMLSS, financial index

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Authors: Sourabh Jain, S. S. Jain

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Intelligent transportation system (ITS) is the application of technologies for developing a user–friendly transportation system to extend the safety and efficiency of urban transportation systems in developing countries. These systems involve vehicles, drivers, passengers, road operators, managers of transport services; all interacting with each other and the surroundings to boost the security and capacity of road systems. The goal of urban corridor management using ITS in road transport is to achieve improvements in mobility, safety, and the productivity of the transportation system within the available facilities through the integrated application of advanced monitoring, communications, computer, display, and control process technologies, both in the vehicle and on the road. Intelligent transportation system is a product of the revolution in information and communications technologies that is the hallmark of the digital age. The basic ITS technology is oriented on three main directions: communications, information, integration. Information acquisition (collection), processing, integration, and sorting are the basic activities of ITS. In the paper, attempts have been made to present the endeavor that was made to interpret and evaluate the performance of the 27.4 Km long study corridor having eight intersections and four flyovers. The corridor consisting of six lanes as well as eight lanes divided road network. Two categories of data have been collected such as traffic data (traffic volume, spot speed, delay) and road characteristics data (no. of lanes, lane width, bus stops, mid-block sections, intersections, flyovers). The instruments used for collecting the data were video camera, stop watch, radar gun, and mobile GPS (GPS tracker lite). From the analysis, the performance interpretations incorporated were the identification of peak and off-peak hours, congestion and level of service (LOS) at midblock sections and delay followed by plotting the speed contours. The paper proposed the urban corridor management strategies based on sensors integrated into both vehicles and on the roads that those have to be efficiently executable, cost-effective, and familiar to road users. It will be useful to reduce congestion, fuel consumption, and pollution so as to provide comfort, safety, and efficiency to the users.

Keywords: ITS strategies, congestion, planning, mobility, safety

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Authors: Sourabh Jain, Sukhvir Singh Jain, Gaurav V. Jain

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Intelligent Transportation System is an integrated application of communication, control and monitoring and display process technologies for developing a user–friendly transportation system for urban areas in developing countries. In fact, the development of a country and the progress of its transportation system are complementary to each other. Urban traffic has been growing vigorously due to population growth as well as escalation of vehicle ownership causing congestion, delays, pollution, accidents, high-energy consumption and low productivity of resources. The development and management of urban transport in developing countries like India however, is at tryout stage with very few accumulations. Under the umbrella of ITS, urban corridor management strategy have proven to be one of the most successful system in accomplishing these objectives. The present study interprets and figures out the performance of the 27.4 km long Urban Bus route having six intersections, five flyovers and 29 bus stops that covers significant area of the city by causality analysis. Performance interpretations incorporate Passenger Boarding and Alighting, Dwell time, Distance between Bus Stops and Total trip time taken by bus on selected urban route.

Keywords: congestion, dwell time, passengers boarding alighting, travel time

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Authors: Akram Atef Rawshdeh

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This research aims to prove the role of Islamic pilgrimage caravans in formulating the concept of the tourism industry and the concept of Grand Tours before that which was found in Europe in the medieval and modern Ages, through its duration and the number of tourists who participated in it and its role in providing tourism services from the establishment of castles and inns that were built To accommodate pilgrims during their travels from different regions of the Islamic world to the holy places in Saudi Arabia, as well as food and beverage services, transportation and support services like tourist security and tourist guide services. This research will depend on the historical method

Keywords: grand tour, hajj caravan routes, tourism services, transportation

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Authors: Mengyu Lu, Yongsheng Guo

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This study investigates how employee incentives affect employee performance in financing from customers. This study followed a grounded theory approach where data were collected through 29 interviews. Main themes and categories were identified through the coding processes. This study found that casual conditions, including financial barriers, informal finance, business location, customer base and customer relationship, influenced the adoption of customer finance in the case of SMEs. The SMEs build and maintain long-term relationships with customers through personal communications. The SMEs engage and motivate employees in customer communications and business financing strategy through financial incentives programs, including bonuses, salary rises, rewards and non-financial incentives, including training opportunities, extra holiday leave, and flexible working hours. Employee performance was measured through financing contribution and job contribution. As a consequence, customers will be well served by employees and get a better customer experience. SMEs can get benefits such as employee engagement, employee satisfaction and sustainable financing sources. This study gets in sight of employee incentives in improving employee performance in customer finance and makes implications to human capital theories. Suggestions are provided to the decision-makers in businesses as incentive programs improve employee performance that, eventually contributes to overall business performance.

Keywords: SMEs, financing from customers, employee incentives, performance-based measurement

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Authors: Robertoes K. K. Wibowo, Siswoyo Soekarno, Irma Puspitasari

Abstract:

Indonesian people use trains for their transportation, especially they use economy class train transportation because it is cheaper and has a more precise schedule than any other ground transportation. Nevertheless, the economy class passenger seat raises some inconvenience issues for passengers. This is due to the design of the chair on the economic class of trains that did not adjusted to the shape of anthropometry of Indonesian people. Thus, research needs to be conducted on the design of the seats in the economic class of trains. The purpose of this research is to make the design of economy class passenger seats ergonomic. This research method uses questionnaires and anthropometry measurements. The data obtained is processed using House of Quality of Ergonomic Function Development. From the results of analysis and data processing were obtained important changes from the original design. Ergonomic chair design according to the analysis is a stainless steel frame, seat height 390 mm, with a seat width for each passenger of 400 mm and a depth of 400 mm. Design of the backrest has a height of 840 mm, width of 430 mm and length of 300 mm that can move at the angle of 105-115 degrees. The width of the footrest is 42 mm and 400 mm length. The thickness of the seat cushion is 100 mm.

Keywords: chair, ergonomics, function development, train passenger

Procedia PDF Downloads 287

Authors: Polly Parkinson, Emma Mecham, Fawn Groves, Amy Wilson-Lopez, Ivonne Santiago

Abstract:

In the rush to meet electric vehicle (EV) adoption goals that address environmental and health concerns, engineering planners and community policy experts cannot separate the socioeconomic and equity factors from transportation needs. Two gaps are identified in existing research: concrete proposals that address affordable micromobility options and provide for needs of community members without cars, and community-engaged research that elevates the concerns and solutions brought forward by historically-marginalized community members. This data analysis from a recent case study in a vulnerable community indicates that because transportation decisions are inextricably linked to health, work, and housing, EV adoption must also address multifaceted human needs. Communities focused on building more electric vehicle charging stations must find ways for lower-income households to also benefit. This research engaged residents in the planning process and resulted in a template for charging stations to advance mobility justice with a range of options that purposefully benefit the whole community.

Keywords: community engagement, electric vehicle charging, environmental justice, participatory research, transportation equity

Procedia PDF Downloads 25

Authors: Muhammad Fiaz

Abstract:

The article in hand is the study of complex features like Zero Hopf Bifurcation, Chaos and Synchronization of integer and fractional order version of a new 3D finance system. Trusted tools of averaging theory and active control method are utilized for investigation of Zero Hopf bifurcation and synchronization for both versions respectively. Inventiveness of the paper is to find the answer of a question that is it possible to find a chaotic system which can be synchronized with any other of the same dimension? Based on different examples we categorically develop a theory that if a couple of master and slave chaotic dynamical system is synchronized by selecting a suitable gain matrix with special conditions then the master system is synchronized with any chaotic dynamical system of the same dimension. With the help of this study we developed generalized theorems for synchronization of n-dimension dynamical systems for integer as well as fractional versions. it proposed that this investigation will contribute a lot to control dynamical systems and only a suitable gain matrix with special conditions is enough to synchronize the system under consideration with any other chaotic system of the same dimension. Chaotic properties of fractional version of the new finance system are also analyzed at fractional order q=0.87. Simulations results, where required, also provided for authenticity of analytical study.

Keywords: complex analysis, chaos, generalized synchronization, control dynamics, fractional order analysis

Procedia PDF Downloads 57