Search results for: market efficiency

Authors: Fatemeh Rouhi, Hadi Nassiri

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Earning forecast is a key element in economic decisions but there are some situations, such as conflicts of interest in financial reporting, complexity and lack of direct access to information has led to the phenomenon of information asymmetry among individuals within the organization and external investors and creditors that appear. The adverse selection and moral hazard in the investor's decision and allows direct assessment of the difficulties associated with data by users makes. In this regard, the role of trustees in corporate governance disclosure is crystallized that includes controls and procedures to ensure the lack of movement in the interests of the company's management and move in the direction of maximizing shareholder and company value. Therefore, the earning forecast of companies in the capital market and the need to identify factors influencing this study was an attempt to make relationship between moral hazard and corporate governance with earning forecast quality companies operating in the capital market and its impact on Earnings Forecasts quality by the company to be established. Getting inspiring from the theoretical basis of research, two main hypotheses and sub-hypotheses are presented in this study, which have been examined on the basis of available models, and with the use of Panel-Data method, and at the end, the conclusion has been made at the assurance level of 95% according to the meaningfulness of the model and each independent variable. In examining the models, firstly, Chow Test was used to specify either Panel Data method should be used or Pooled method. Following that Housman Test was applied to make use of Random Effects or Fixed Effects. Findings of the study show because most of the variables are positively associated with moral hazard with earnings forecasts quality, with increasing moral hazard, earning forecast quality companies listed on the Tehran Stock Exchange is increasing. Among the variables related to corporate governance, board independence variables have a significant relationship with earnings forecast accuracy and earnings forecast bias but the relationship between board size and earnings forecast quality is not statistically significant.

Keywords: corporate governance, earning forecast quality, moral hazard, financial sciences

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Authors: German Osma, Gabriel Ordonez

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The production of metal-rubber spares for vehicles is a sequential process that consists in the transformation of raw material through cutting activities and chemical and thermal treatments, which demand electricity and fossil fuels. The energy efficiency analysis for these cases is mostly focused on studying of each machine or production step, but is not common to study of the quality of the production process achieves from aggregated value viewpoint, which can be used as a quality measurement for determining of impact on the environment. In this paper, the theory of exergetic cost is used for determining of aggregated exergy to three metal-rubber spares, from an exergy analysis and thermoeconomic analysis. The manufacturing processing of these spares is based into batch production technique, and therefore is proposed the use of this theory for discontinuous flows from of single models of workstations; subsequently, the complete exergy model of each product is built using flowcharts. These models are a representation of exergy flows between components into the machines according to electrical, mechanical and/or thermal expressions; they determine the demanded exergy to produce the effective transformation in raw materials (aggregated exergy value), the exergy losses caused by equipment and irreversibilities. The energy resources of manufacturing process are electricity and natural gas. The workstations considered are lathes, punching presses, cutters, zinc machine, chemical treatment tanks, hydraulic vulcanizing presses and rubber mixer. The thermoeconomic analysis was done by workstation and by spare; first of them describes the operation of the components of each machine and where the exergy losses are; while the second of them estimates the exergy-aggregated value for finished product and wasted feedstock. Results indicate that exergy efficiency of a mechanical workstation is between 10% and 60% while this value in the thermal workstations is less than 5%; also that each effective exergy-aggregated value is one-thirtieth of total exergy required for operation of manufacturing process, which amounts approximately to 2 MJ. These troubles are caused mainly by technical limitations of machines, oversizing of metal feedstock that demands more mechanical transformation work, and low thermal insulation of chemical treatment tanks and hydraulic vulcanizing presses. From established information, in this case, it is possible to appreciate the usefulness of theory of exergetic cost for analyzing of aggregated value in manufacturing processes.

Keywords: exergy-aggregated value, exergy efficiency, thermoeconomics, exergy modeling

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Authors: Chandra Gupt Porwal

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Excessive vibration means increased wear, increased repair efforts, bad product selection & quality and high energy consumption. This may be sometimes experienced by cavitation or suction/discharge re-circulation which could occur only when net positive suction head available NPSHA drops below the net positive suction head required NPSHR. Cavitation can cause axial surging if it is excessive, will damage mechanical seals, bearings, possibly other pump components frequently and shorten the life of the impeller. Efforts have been made to explain Suction Energy (SE), Specific Speed (Ns), Suction Specific Speed (Nss), NPSHA, NPSHR & their significance, possible reasons of cavitation /internal re-circulation, its diagnostics and remedial measures to arrest and prevent cavitation in this paper. A case study is presented by the author highlighting that the root cause of unwanted noise and vibration is due to cavitation, caused by high specific speeds or inadequate net- positive suction head available which results in damages to material surfaces of impeller & suction bells and degradation of machine performance, its capacity and efficiency too. The author strongly recommends revisiting the technical specifications of CW pumps to provide sufficient NPSH margin ratios > 1.5, for future projects and Nss be limited to 8500 -9000 for cavitation free operation.

Keywords: best efficiency point (BEP), net positive suction head NPSHA, NPSHR, specific speed NS, suction specific speed NSS

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Authors: Esmael Makarian, Ayub Elyasi, Fatemeh Saberi, Olusegun Stanley Tomomewo

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Geothermal reservoirs (GTRs) have garnered global recognition as a sustainable energy source. The Thermo-Hydro-Mechanical-Chemical (THMC) integration coupling proves to be a practical and effective method for optimizing production in GTRs. The study outcomes demonstrate that THMC coupling serves as a versatile and valuable tool, offering in-depth insights into GTRs and enhancing their operational efficiency. This is achieved through temperature analysis and pressure changes and their impacts on mechanical properties, structural integrity, fracture aperture, permeability, and heat extraction efficiency. Moreover, THMC coupling facilitates potential benefits assessment and risks associated with different geothermal technologies, considering the complex thermal, hydraulic, mechanical, and chemical interactions within the reservoirs. However, THMC-coupling utilization in GTRs presents a multitude of challenges. These challenges include accurately modeling and predicting behavior due to the interconnected nature of processes, limited data availability leading to uncertainties, induced seismic events risks to nearby communities, scaling and mineral deposition reducing operational efficiency, and reservoirs' long-term sustainability. In addition, material degradation, environmental impacts, technical challenges in monitoring and control, accurate assessment of resource potential, and regulatory and social acceptance further complicate geothermal projects. Addressing these multifaceted challenges is crucial for successful geothermal energy resources sustainable utilization. This paper aims to illuminate the challenges and opportunities associated with THMC coupling in enhanced geothermal systems. Practical solutions and strategies for mitigating these challenges are discussed, emphasizing the need for interdisciplinary approaches, improved data collection and modeling techniques, and advanced monitoring and control systems. Overcoming these challenges is imperative for unlocking the full potential of geothermal energy making a substantial contribution to the global energy transition and sustainable development.

Keywords: geothermal reservoirs, THMC coupling, interdisciplinary approaches, challenges and opportunities, sustainable utilization

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Authors: Sedef Sert, Paola Garrone, Marco Melacini, Alessandro Perego

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This paper is aimed at enhancing our current understanding of motivations behind corporate in-kind donations and to find out whether economic efficiency may be a major driver. Our empirical setting is consisted of surplus food recovery and donation by companies from food supply chain. This choice of empirical setting is motivated by growing attention on the paradox of food insecurity and food waste i.e. a total of 842 million people worldwide were estimated to be suffering from regularly not getting enough food, while approximately 1.3 billion tons per year food is wasted globally. Recently, many authors have started considering surplus food donation to nonprofit organizations as a way to cope with social issue of food insecurity and environmental issue of food waste. In corporate philanthropy literature the motivations behind the corporate donations for social purposes, such as altruistic motivations, enhancements to employee morale, the organization’s image, supplier/customer relationships, local community support, have been examined. However, the relationship with economic efficiency is not studied and in many cases the pure economic efficiency as a decision making factor is neglected. Although in literature there are some studies give us the clue on economic value creation of surplus food donation such as saving landfill fees or getting tax deductions, so far there is no study focusing deeply on this phenomenon. In this paper, we develop a conceptual framework which explores the economic barriers and drivers towards alternative surplus food management options i.e. discounts, secondary markets, feeding animals, composting, energy recovery, disposal. The case study methodology is used to conduct the research. Protocols for semi structured interviews are prepared based on an extensive literature review and adapted after expert opinions. The interviews are conducted mostly with the supply chain and logistics managers of 20 companies in food sector operating in Italy, in particular in Lombardy region. The results shows that in current situation, the food manufacturing companies can experience cost saving by recovering and donating the surplus food with respect to other methods especially considering the disposal option. On the other hand, retail and food service sectors are not economically incentivized to recover and donate surplus food to disfavored population. The paper shows that not only strategic and moral motivations, but also economic motivations play an important role in managerial decision making process in surplus food management. We also believe that our research while rooted in the surplus food management topic delivers some interesting implications to more general research on corporate in-kind donations. It also shows that there is a huge room for policy making favoring the recovery and donation of surplus products.

Keywords: corporate philanthropy, donation, recovery, surplus food

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Authors: Zhihao Zheng, Zhilin Wang, Linxin Liu

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In the research of automated knowledge question-answering systems, accuracy and efficiency are critical challenges. This paper proposes a knowledge graph-enhanced Retrieval-Augmented Generation (RAG) method, combined with a Graph Neural Network (GNN) structure, to automatically determine the correctness of knowledge competition questions. First, a domain-specific knowledge graph was constructed from a large corpus of academic journal literature, with key entities and relationships extracted using Natural Language Processing (NLP) techniques. Then, the RAG method's retrieval module was expanded to simultaneously query both text databases and the knowledge graph, leveraging the GNN to further extract structured information from the knowledge graph. During answer generation, contextual information provided by the knowledge graph and GNN is incorporated to improve the accuracy and consistency of the answers. Experimental results demonstrate that the knowledge graph and GNN-enhanced RAG method perform excellently in determining the correctness of questions, achieving an accuracy rate of 95%. Particularly in cases involving ambiguity or requiring contextual information, the structured knowledge provided by the knowledge graph and GNN significantly enhances the RAG method's performance. This approach not only demonstrates significant advantages in improving the accuracy and efficiency of automated knowledge question-answering systems but also offers new directions and ideas for future research and practical applications.

Keywords: knowledge graph, graph neural network, retrieval-augmented generation, NLP

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Authors: Rosalie Menon, Angela Reid

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Building integrated photovoltaic systems with air collectors (hybrid PV-T) have proved successful however there are few examples of their application in the UK. The opportunity to pull heat from behind the PV system to contribute to a building’s heating system is an efficient use of waste energy and its potential to improve the performance of the PV array is well documented. As part of Glasgow School of Art’s estate expansion, the purchase and redevelopment of an existing 1950’s college building was used as a testing vehicle for the hybrid PV-T system as an integrated element of the upper floor and roof. The primary objective of the feasibility study was to determine if hybrid PV-T was technically and financially suitable for the refurbished building. The key consideration was whether the heat recovered from the PV panels (to increase the electrical efficiency) can be usefully deployed as a heat source within the building. Dynamic thermal modelling (IES) and RetScreen Software were used to carry out the feasibility study not only to simulate overshadowing and optimise the PV-T locations but also to predict the atrium temperature profile; predict the air load for the proposed new 4 No. roof mounted air handling units and to predict the dynamic electrical efficiency of the PV element. The feasibility study demonstrates that there is an energy reduction and carbon saving to be achieved with each hybrid PV-T option however the systems are subject to lengthy payback periods and highlights the need for enhanced government subsidy schemes to reward innovation with this technology in the UK.

Keywords: building integrated, photovoltatic thermal, pre-heat air, ventilation

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Authors: Yuguang Gao, Qiang Yang, Yanpeng Zhang, Mingtao Deng

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To enhance the safety, quality and efficiency of healthcare services provided by surgical doctors, we propose a comprehensive approach to the performance evaluation of individual doctors by incorporating insights from performance data as well as views of different stakeholders in the hospital. Exploratory factor analysis was first performed on collective multidimensional performance data of surgical doctors, where key factors were extracted that encompass assessment of professional experience and service performance. A two-level indicator system was then constructed, for which we developed a weighted interval-valued spherical fuzzy analytic hierarchy process to analyze the relative importance of the indicators while handling subjectivity and disparity in the decision-making of multiple parties involved. Our analytical results reveal that, for the key factors identified as instrumental for evaluating surgical doctors’ performance, the overall importance of clinical workload and complexity of service are valued more than capacity of service and professional experience, while the efficiency of resource consumption ranks comparatively the lowest in importance. We also provide a retrospective case study to illustrate the effectiveness and robustness of our quantitative evaluation model by assigning meaningful performance ratings to individual doctors based on the weights developed through our approach.

Keywords: analytic hierarchy processes, factor analysis, fuzzy logic, performance evaluation

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Authors: Bruno de Almeida Vilela, Heinz Ahn, Ana Lúcia Miranda Lopes, Marcelo Azevedo Costa

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Benchmarking public utilities such as transmission system operators (TSOs) is one of the main strategies employed by regulators in order to fix monopolistic companies’ revenues. Since 2007 the Brazilian regulator has been utilizing Data Envelopment Analysis (DEA) to benchmark TSOs. Despite the application of DEA to improve the transmission sector’s efficiency, some problems can be pointed out, such as the high price of electricity in Brazil; the limitation of the benchmarking only to operational expenses (OPEX); the absence of variables that represent the outcomes of the transmission service; and the presence of extremely low and high efficiencies. As an alternative to the current concept of benchmarking the Brazilian regulator uses, we propose a goal-oriented approach. Our proposal supports input/output selection by taking traditional organizational goals and measures as a basis for the selection of factors for benchmarking purposes. As the main advantage, it resolves the classical DEA problems of input/output selection, undesirable and dual-role factors. We also provide a demonstration of our goal-oriented concept regarding service quality. As a result, most TSOs’ efficiencies in Brazil might improve when considering quality as important in their efficiency estimation.

Keywords: decision making, goal-oriented benchmarking, input/output factor determination, TSO regulation

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Authors: Amirhossein Dodankeh, Hadi Dabiryan, Saeed Hamze

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Using fabrics to reinforce composites considerably leads to improved mechanical properties, including resistance to the impact load and the energy absorption of composites. Warp-knitted spacer fabrics (WKSF) are fabrics consisting of two layers of warp-knitted fabric connected by pile yarns. These connections create a space between the layers filled by pile yarns and give the fabric a three-dimensional shape. Today because of the unique properties of spacer fabrics, they are widely used in the transportation, construction, and sports industries. Polyurethane (PU) foams are commonly used as energy absorbers, but WKSF has much better properties in moisture transfer, compressive properties, and lower heat resistance than PU foam. It seems that the use of warp-knitted spacer fabric reinforced PU foam (WKSFRF) can lead to the production and use of composite, which has better properties in terms of energy absorption from the foam, its mold formation is enhanced, and its mechanical properties have been improved. In this paper, the energy absorption efficiency (EAE) of WKSFRF under low-velocity impact is investigated experimentally. The contribution of the effect of each of the structural parameters of the WKSF on the absorption of impact energy has also been investigated. For this purpose, WKSF with different structures such as two different thicknesses, small and large mesh sizes, and position of the meshes facing each other and not facing each other were produced. Then 6 types of composite samples with different structural parameters were fabricated. The physical properties of samples like weight per unit area and fiber volume fraction of composite were measured for 3 samples of any type of composites. Low-velocity impact with an initial energy of 5 J was carried out on 3 samples of any type of composite. The output of the low-velocity impact test is acceleration-time (A-T) graph with a lot deviation point, in order to achieve the appropriate results, these points were removed using the FILTFILT function of MATLAB R2018a. Using Newtonian laws of physics force-displacement (F-D) graph was drawn from an A-T graph. We know that the amount of energy absorbed is equal to the area under the F-D curve. Determination shows the maximum energy absorption is 2.858 J which is related to the samples reinforced with fabric with large mesh, high thickness, and not facing of the meshes relative to each other. An index called energy absorption efficiency was defined, which means absorption energy of any kind of our composite divided by its fiber volume fraction. With using this index, the best EAE between the samples is 21.6 that occurs in the sample with large mesh, high thickness, and meshes facing each other. Also, the EAE of this sample is 15.6% better than the average EAE of other composite samples. Generally, the energy absorption on average has been increased 21.2% by increasing the thickness, 9.5% by increasing the size of the meshes from small to big, and 47.3% by changing the position of the meshes from facing to non-facing.

Keywords: composites, energy absorption efficiency, foam, geometrical parameters, low-velocity impact, warp-knitted spacer fabric

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Authors: Maryam Kiani

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In order to enhance the efficiency and stability of an electrocatalyst for formic acid electro-oxidation reaction (FAOR), we developed a method to create Pt/Ni nanoparticles with carbon black. These nanoparticles were prepared using a simple impregnation reduction technique. During the observation, it was found that the nanoparticles had a spherical shape. Additionally, the average particle size remained consistent, falling within the range of about 4 nm. This approach aimed to obtain a loaded Pt-based electrocatalyst that would exhibit improved performance and stability when used in FAOR applications. By utilizing the impregnation reduction method and incorporating Ni nanoparticles along with Pt, we sought to enhance the catalytic properties of the material. By incorporating Ni atoms into the Pt structure, the electronic properties of Pt are modified, resulting in a delay in the chemisorption of harmful CO intermediate species. This modification also promotes the dehydrogenation pathway of the formic acid oxidation reaction (FAOR). Through electrochemical analysis, it has been observed that the Pt3Ni-C catalyst exhibits enhanced performance in FAOR compared to traditional Pt catalysts. This means that the addition of Ni atoms improves the efficiency and effectiveness of the Pt3Ni-C catalyst in facilitating the FAOR process. Overall, the utilization of these alloy nanoparticles as electrocatalysts represents a significant advancement in fuel cell technology.

Keywords: electrocatalyst, impregnation reduction method, formic acid electro-oxidation reaction, fuel cells

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Authors: Ellen Van Den Oord, Julien Marie Jan Ferdinand Van Campen

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This article introduces a computationally efficient method for stacking sequence blending of composite structures. The computational efficiency makes the presented method especially interesting for composite structures with a large number of design regions. Optimization of composite structures with an unequal load distribution may lead to locally optimized thicknesses and ply orientations that are incompatible with one another. Blending constraints can be enforced to achieve structural continuity. In literature, many methods can be found to implement structural continuity by means of stacking sequence blending in one way or another. The complexity of the problem makes the blending of a structure with a large number of adjacent design regions, and thus stacking sequences, prohibitive. In this work the local stacking sequence optimization is preconditioned using a method found in the literature that couples the mechanical behavior of the laminate, in the form of lamination parameters, to blending constraints, yielding near-optimal easy-to-blend designs. The preconditioned design is then fed to the scheme using cellular automata that have been developed by the authors. The method is applied to the benchmark 18-panel horseshoe blending problem to demonstrate its performance. The computational efficiency of the proposed method makes it especially suited for composite structures with a large number of design regions.

Keywords: composite, blending, optimization, lamination parameters

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Authors: Martha E. Ikome, John M. Ikome

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Intellectual property should be a day-to-day business decision due to its value, but increasingly, a number of institution are still not aware of the importance. Intellectual Property (IP) and its value are often not adequately appreciated. In the increasingly knowledge-driven economy, IP is a key consideration in day-to-day business decisions because new ideas and products appear almost daily in the market, which results in continuous innovation and research. Therefore, this paper will focus on the importance of IP for universities of technology and also further demonstrates how IP can become an economic tool and the challenges faced by these universities in implementing an IP system.

Keywords: intellectual property, institutions, challenges, protection

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Authors: Azzi Mohammed Amin

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In the last decade Algeria has investigated in a scale of economic reforms including different areas, among these; reforms in the banking system. This was mainly through the implementation of some regulations that facilitate the shift to market economy and guarantee integration into global economy. The most important new ideas that have emerged in this area are perhaps to find a possibility of integrating the so called e-banking. Based on what has already been stated, we will try in this study to highlight the significant role of electronic banking services as novel trends in the modernization and development of Algerian banks.

Keywords: banking technology, Internet banks, modernization of banks, virtual banks

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Authors: Temidayo. O. Osunsanmi, Clinton Aigbavboa, Ayodeji Oke

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The construction industry is a renowned latecomer to the efficiency offered by the adoption of information technology. Whereas, the banking, manufacturing, retailing industries have keyed into the future by using digitization and information technology as a new approach for ensuring competitive gain and efficiency. The construction industry has yet to fully realize similar benefits because the adoption of ICT is still at the infancy stage with a major concentration on the use of software. Thus, this study evaluates the awareness and readiness of construction professionals towards embracing a full digitalization of the construction industry using construction 4.0. The term ‘construction 4.0’ was coined from the industry 4.0 concept which is regarded as the fourth industrial revolution that originated from Germany. A questionnaire was utilized for sourcing data distributed to practicing construction professionals through a convenience sampling method. Using SPSS v24, the hypotheses posed were tested with the Mann Whitney test. The result revealed that there are no differences between the consulting and contracting organizations on the readiness for adopting construction 4.0 concepts in the construction industry. Using factor analysis, the study discovers that adopting construction 4.0 will improve the performance of the construction industry regarding cost and time savings and also create sustainable buildings. In conclusion, the study determined that construction professionals have a low awareness towards construction 4.0 concepts. The study recommends an increase in awareness of construction 4.0 concepts through seminars, workshops and training, while construction professionals should take hold of the benefits of adopting construction 4.0 concepts. The study contributes to the roadmap for the implementation of construction industry 4.0 concepts in the South African construction industry.

Keywords: building information technology, Construction 4.0, Industry 4.0, smart site

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Authors: Christine F. Boos, Fernando M. Azevedo

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Electroencephalogram (EEG) is a record of the electrical activity of the brain that has many applications, such as monitoring alertness, coma and brain death; locating damaged areas of the brain after head injury, stroke and tumor; monitoring anesthesia depth; researching physiology and sleep disorders; researching epilepsy and localizing the seizure focus. Epilepsy is a chronic condition, or a group of diseases of high prevalence, still poorly explained by science and whose diagnosis is still predominantly clinical. The EEG recording is considered an important test for epilepsy investigation and its visual analysis is very often applied for clinical confirmation of epilepsy diagnosis. Moreover, this EEG analysis can also be used to help define the types of epileptic syndrome, determine epileptiform zone, assist in the planning of drug treatment and provide additional information about the feasibility of surgical intervention. In the context of diagnosis confirmation the analysis is made using long term EEG recordings with at least 24 hours long and acquired by a minimum of 24 electrodes in which the neurophysiologists perform a thorough visual evaluation of EEG screens in search of specific electrographic patterns called epileptiform discharges. Considering that the EEG screens usually display 10 seconds of the recording, the neurophysiologist has to evaluate 360 screens per hour of EEG or a minimum of 8,640 screens per long term EEG recording. Analyzing thousands of EEG screens in search patterns that have a maximum duration of 200 ms is a very time consuming, complex and exhaustive task. Because of this, over the years several studies have proposed automated methodologies that could facilitate the neurophysiologists’ task of identifying epileptiform discharges and a large number of methodologies used neural networks for the pattern classification. One of the differences between all of these methodologies is the type of input stimuli presented to the networks, i.e., how the EEG signal is introduced in the network. Five types of input stimuli have been commonly found in literature: raw EEG signal, morphological descriptors (i.e. parameters related to the signal’s morphology), Fast Fourier Transform (FFT) spectrum, Short-Time Fourier Transform (STFT) spectrograms and Wavelet Transform features. This study evaluates the application of these five types of input stimuli and compares the classification results of neural networks that were implemented using each of these inputs. The performance of using raw signal varied between 43 and 84% efficiency. The results of FFT spectrum and STFT spectrograms were quite similar with average efficiency being 73 and 77%, respectively. The efficiency of Wavelet Transform features varied between 57 and 81% while the descriptors presented efficiency values between 62 and 93%. After simulations we could observe that the best results were achieved when either morphological descriptors or Wavelet features were used as input stimuli.

Keywords: Artificial neural network, electroencephalogram signal, pattern recognition, signal processing

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Authors: Sheikh Mohammed Rafiul Huque

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Bangladesh since its inception has been an economy that is fuelled by agriculture and agriculture has significant contribution to the GDP of Bangladesh. The agriculture of Bangladesh predominantly and historically dependent on organic sources of raw material though the place has taken in decades by inorganic sources of raw materials due to the high demand of food for rapidly growing of population. Meanwhile, a new market segment, which is niche market, has been evolving in the urban area in favor of organic products, though 71.1% population living in rural areas is dependent mainly on conventional products. The new market segment is search of healthy and safer source of food and they could believe that organic products are the solution of that. In Bangladesh, food adulteration is very common practices among the shop-keepers to extend the shelf life of raw vegetables and fruits. The niche group of city dwellers is aware about the fact and gradually shifting their buying behavior to organic products. A recent survey on organic farming revealed that 16,200 hectares under organic farming in recent time, which was only 2,500 hectares in 2008. This study is focused on consumer awareness of organic products and tried to explore the factors affecting organic food consumption among high income group of people. The hypothesis is developed to explore the effect of gender (GENDER), ability to purchase (ABILITY) and health awareness (HEALTH) on purchase intention (INTENTION). A snowball sampling was administered among the high income group of people in Dhaka city among 150 respondents. In this sampling process the study could identify only those samples who has consume organic products. A Partial Least Square (PLS) method was used to analyze data using path analysis. It was revealed from the analysis that coefficient determination R2 is 0.829 for INTENTION endogenous latent variable. This means that three latent variables (GENDER, ABILITY, and HEALTH) significantly explain 82.9% of the variance in INTENTION of purchasing organic products. Moreover, GENDER solely explains 6.3% and 8.6% variability of ABILITY and HEALTH respectively. The inner model suggests that HEALTH has strongest negative effect on INTENTION (-0.647) followed by ABILITY (0.344) and GENDER (0.246). The hypothesized path relationship between ABILITY->INTENTION, HEALTH->INTENTION and GENDER->INTENTION are statistically significant. Furthermore, the hypothesized path relationship between GENDER->ABILITY (0.262) and GENDER->HEALTH (-0.292) also statistically significant. The purpose of the study is to demonstrate how an organic product producer can improve his participatory guarantee system (PGS) while marketing the products. The study focuses on understanding gender (GENDER), ability (ABILITY) and health (HEALTH) factors while positioning the products (INTENTION) in the mind of the consumer. In this study, the respondents are found to care about high price and ability to purchase variables with loading -0.920 and 0.898. They are good indicators of ability to purchase (ABILITY). The marketers should consider about price of organic comparing to conventional products while marketing, otherwise, that will create negative intention to buy with a loading of -0.939. Meanwhile, it is also revealed that believability of chemical free component in organic products and health awareness affects health (HEALTH) components with high loading -0.941 and 0.682. The study analyzes that low believability of chemical free component and high price of organic products affects intension to buy. The marketers should not overlook this point while targeting the consumers in Bangladesh.

Keywords: health awareness, organic products, purchase ability, purchase intention

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Authors: David P. Tantua, Abdulkader Helwan

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Biometrics has been recently used for the human identification systems using the biological traits such as the fingerprints and iris scanning. Identification systems based biometrics show great efficiency and accuracy in such human identification applications. However, these types of systems are so far based on some image processing techniques only, which may decrease the efficiency of such applications. Thus, this paper aims to develop a human palmprint identification system using multi-layer perceptron neural network which has the capability to learn using a backpropagation learning algorithms. The developed system uses images obtained from a public database available on the internet (CASIA). The processing system is as follows: image filtering using median filter, image adjustment, image skeletonizing, edge detection using canny operator to extract features, clear unwanted components of the image. The second phase is to feed those processed images into a neural network classifier which will adaptively learn and create a class for each different image. 100 different images are used for training the system. Since this is an identification system, it should be tested with the same images. Therefore, the same 100 images are used for testing it, and any image out of the training set should be unrecognized. The experimental results shows that this developed system has a great accuracy 100% and it can be implemented in real life applications.

Keywords: biometrics, biological traits, multi-layer perceptron neural network, image skeletonizing, edge detection using canny operator

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Authors: Pouyan Jahanbin, Mahmoud Houshmand, Omid Fatahi Valilai

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A flexible manufacturing system (FMS) is a manufacturing system having the capability of handling the variations of products features that is the result of ever-changing customer demands. The flexibility of the manufacturing systems help to utilize the resources in a more effective manner. However, the control of such systems would be complicated and challenging. FMS needs CNC machines and robots and other resources for establishing the flexibility and enhancing the efficiency of the whole system. Also it needs to integrate the resources to reach required efficiency and flexibility. In order to reach this goal, an integrator framework is proposed in which the machining data of CNC machine tools is received through a STEP-NC file. The interoperability of the system is achieved by the information system. This paper proposes an information system that its data model is designed based on object oriented approach and is implemented through a knowledge-based system. The framework is connected to a database which is filled with robot’s control commands. The framework programs the robots by rules embedded in its knowledge based system. It also controls the interactions of CNC machine tools for loading and unloading actions by robot. As a result, the proposed framework improves the integration of manufacturing resources in Flexible Manufacturing Systems.

Keywords: CNC machine tools, industrial robots, knowledge-based systems, manufacturing recourses integration, flexible manufacturing system (FMS), object-oriented data model

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Authors: B. Sayaheen

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The translator’s competence is one of the topics that has received a great deal of research in the field of translation studies because such competencies are still debatable and not yet agreed upon. Besides, scholars tackle this topic from different points of view. Approaches to teaching these competencies have gone through some developments. This paper aims at investigating these developments, exploring the major turning points and shifts in the developments of teaching methods in translator training. The significance of these turning points and the external or internal causes will also be discussed. Based on the past and present status of teaching approaches in translator training, this paper tries to predict the future of these approaches. This paper is mainly concerned with developments of teaching approaches in the West since the 1980s to the present. The reason behind choosing this specific period is not because translator training started in the 1980s but because most criticism of the teacher-centered approach started at that time. The implications of this research stem from the fact that it identifies the turning points and the causes that led teachers to adopt student-centered approaches rather than teacher-centered approaches and then to incorporate technology and the Internet in translator training. These reasons were classified as external or internal reasons. Translation programs in the West and in other cultures can benefit from this study. Translation programs in the West can notice that teaching translation is geared toward incorporating more technologies. If these programs already use technology and the Internet to teach translation, they might benefit from the assumed future direction of teaching translation. On the other hand, some non-Western countries, and to be specific some professors, are still applying the teacher-centered approach. Moreover, these programs should include technology and the Internet in their teaching approaches to meet the drastic changes in the translation process, which seems to rely more on software and technologies to accomplish the translator’s tasks. Finally, translator training has borrowed many of its approaches from other disciplines, mainly language teaching. The teaching approaches in translator training have gone through some developments, from teacher-centered to student-centered and then toward the integration of technologies and the Internet. Both internal and external causes have played a crucial role in these developments. These borrowed approaches should be comprehensively evaluated in order to see if they achieve the goals of translator training. Such evaluation may lead us to come up with new teaching approaches developed specifically for translator training. While considering these methods and designing new approaches, we need to keep an eye on the future needs of the market.

Keywords: turning points, developments, translator training, market, The West

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Authors: Mingxia Zhu, Matthew Tingchi Liu

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AI grows gradually in the market with its efficiency and accuracy, influencing people’s perceptions, attitude, and even consequential behaviors. Current study extends prior research by focusing on AI’s impact on consumers’ morality. First, study 1 tested individuals’ believes about AI and human’s moral perceptions and people’s attribution of moral worth to AI and human. Moral perception refers to a computational system an entity maintains to detect and identify moral violations, while moral worth here denotes whether individual regard an entity as worthy of moral treatment. To identify the effect of AI on consumers’ morality, two studies were employed. Study 1 is a within-subjects survey, while study 2 is an experimental study. In the study 1, one hundred and forty participants were recruited through online survey company in China (M_age = 27.31 years, SD = 7.12 years; 65% female). The participants were asked to assign moral perception and moral worth to AI and human. A paired samples t-test reveals that people generally regard that human has higher moral perception (M_Human = 6.03, SD = .86) than AI (M_AI = 2.79, SD = 1.19; t(139) = 27.07, p < .001; Cohen’s d = 1.41). In addition, another paired samples t-test results showed that people attributed higher moral worth to the human personnel (M_Human = 6.39, SD = .56) compared with AIs (M_AI = 5.43, SD = .85; t(139) = 12.96, p < .001; d = .88). In the next study, two hundred valid samples were recruited from survey company in China (M_age = 27.87 years, SD = 6.68 years; 55% female) and the participants were randomly assigned to two conditions (AI vs. human). After viewing the stimuli of human versus AI, participants are informed that one insurance company would determine the price purely based on their declaration. Therefore, their open-ended answers were coded into ethical, honest behavior and unethical, dishonest behavior according to the design of prior literature. A Chi-square analysis revealed that 64% of the participants would immorally lie towards AI insurance inspector while 42% of participants reported deliberately lower mileage facing with human inspector (χ^2 (1) = 9.71, p = .002). Similarly, the logistic regression results suggested that people would significantly more likely to report fraudulent answer when facing with AI (β = .89, odds ratio = 2.45, Wald = 9.56, p = .002). It is demonstrated that people would be more likely to behave unethically in front of non-human agents, such as AI agent, rather than human. The research findings shed light on new practical ethical issues in human-AI interaction and address the important role of human employees during the process of service delivery in the new era of AI.

Keywords: AI agent, consumer morality, ethical behavior, human-AI interaction

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Authors: T. H. Huang, C. L. Fern, Y. K. Tseng

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The design and reliability of solar photovoltaic modules are crucial to the development of solar energy, and efforts are still being made to extend the life of photovoltaic modules to improve their efficiency because natural aging is time-consuming and does not provide manufacturers and investors with timely information, accelerated aging is currently the best way to estimate the life of photovoltaic modules. Bifacial solar cells not only absorb light from the front side but also absorb light reflected from the ground on the back side, surpassing the performance of single-sided solar cells. Due to the asymmetry of the two sides of the light, in addition to the difference in photovoltaic conversion efficiency, there will also be differences in heat distribution, which will affect the electrical properties and material structure of the bifacial solar cell itself. In this study, there are two types of experimental samples: packaged and unpackaged and then irradiated with UVC light sources and halogen lamps for accelerated aging, as well as a control group without aging. After two weeks of accelerated aging, the bifacial solar cells were visual observation, and infrared thermal images were taken; then, the samples were subjected to IV measurement, and samples were taken for SEM, Raman, and XRD analyses in order to identify the defects that lead to failure and chemical changes, as well as to analyze the reasons for the degradation of their characteristics. From the results of the analysis, it is found that aging will cause carbonization of the polymer material on the surface of bifacial solar cells, and the crystal structure will be affected.

Keywords: bifacial solar cell, accelerated aging, temperature, characterization, electrical measurement

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Authors: Vinícius L. L. Morrone, David Douek, Helder M. F. Pereira, Bernadete L. M. Grandolpho

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This work aimed to identify the relationships between the level of consumer environmental awareness and their search for sustainable properties, as well as to understand the main sustainability structures considered by these consumers during the decision process. Additionally, the paper looked up to the influence environmental awareness and financial status have over the disposition of buyers to pay more for sustainable properties. To achieve these objectives, 318 questionnaires were answered electronically, after being sent to the Green Building Brazil email basis, as to other Real Estate developers client basis. From all the questionnaires answered, 71 were discarded, leaving a total amount of 247 admitted questionnaires to be analyzed. The responses were evaluated based on the theory of consumer decision making, especially on the influence factors of this process. The data were processed using a PLS model, using the R software. The results have shown that the level of consumer environmental awareness effectively affects the consumer’s will of acquiring a sustainable property or, at least, a property with some environmental friendly structures. The consumer’s environmental awareness also positively impacts the importance consumers give to individual environmental friendly structures. Also, as a consumer value to those individual structures raises, it is also observed a raise in his will to buy a sustainable property. Additionally, the impact of consumer’s environmental awareness and financial status over the willingness to pay more for a property with those attributes. The results indicate that there was no relationship between consumers' environmental awareness and their willingness to pay more for a sustainable property. On the other hand, the financial status and the family income of the consumers showed a positive relation with the willingness to pay more for a sustainable property. This indicates that consumers with better financial conditions, which according to the analysis do not necessarily have a greater environmental awareness, are those who are willing to pay more for a sustainable property. Thus, this study indicates that, even if the environmental awareness impact positively the demand for sustainable structures and properties, this impact is not price reflected, due to the price elasticity of the consumption, especially for a category of lower income consumers. This paper adds to the literature in the way it projects some guidelines to the consumer’s decision process in the Real Estate market in emerging economies, as well as it presents some drivers to pricing decisions.

Keywords: consumer behavior, environmental awareness, real estate pricing, sustainable buildings

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Authors: Qing Zhang, Jiachen Nie, Yujia Wen, Guanyuan Kou, Peng Yu, Kun Xia, Qin Yang, Li Ding

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BACKGROUND: A facility layout problem (FLP) is an NP-complete (non-deterministic polynomial) problem, which is hard to obtain an exact optimal solution. FLP has been widely studied in various limited spaces and workflows. For example, cafeterias with many types of equipment for troops cause chaotic processes when dining. OBJECTIVE: This article tried to optimize the layout of troops’ cafeteria and to improve the overall efficiency of the dining process. METHODS: First, the original cafeteria layout design scheme was analyzed from an ergonomic perspective and two new design schemes were generated. Next, three facility layout models were designed, and further simulation was applied to compare the total time and density of troops between each scheme. Last, an experiment of the dining process with video observation and analysis verified the simulation results. RESULTS: In a simulation, the dining time under the second new layout is shortened by 2.25% and 1.89% (p<0.0001, p=0.0001) compared with the other two layouts, while troops-flow density and interference both greatly reduced in the two new layouts. In the experiment, process completing time and the number of interference reduced as well, which verified corresponding simulation results. CONCLUSIONS: Our two new layout schemes are tested to be optimal by a series of simulation and space experiments. In future research, similar approaches could be applied when taking layout-design algorithm calculation into consideration.

Keywords: layout optimization, dining efficiency, troops’ cafeteria, anylogic simulation, field experiment

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Authors: Rafikoddin Kazi

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Almost all the major religions of the world condemn the transactions based on interest which promotes self-centered and materialistic thinking. Still, it is amazing to note that it has become the tradition of transaction at world level hence it is called traditional financial system. The main feature of this system is that it considers economic aspects of the transaction only. This system supports the economic development and not the welfare of humankind. However, it is worth mentioning the fact that, except Islamic financial system no other financial system stood in front of it as a viable alternative system. Although many countries have tried to create financial infrastructure and system, still the Malaysian Islamic financial system has got its own peculiarity. It has made tremendous progress in creating sound Islamic Financial system. However, the historical aspect of this country which has passed through Islamic and traditional financial system has got its own advantages and disadvantages. The advantageous factor is that, despite having mix and heterogeneous culture, it has succeeded in creating Islamic Financial System based on the dual legal system to satisfy the needs of multi-cultural factors. This fact has proved that Islamic Financial System does not need purely Muslim population. However, due to adoption of the dual legal system, several legal issues have been taken place. According to this system, the application of Islamic Law has been limited only up to some family and religious matters. The rest of the matters are being dealt with under the traditional laws, the principles and practices of which are different from that of the Islamic Legal System. The matter becomes all the more complicated when the cases are partially or simultaneously concerned with traditional vis-à-vis Islamic Laws as it requires expertise in both the legal systems. However, the educational principles and systems are different in respect of both the systems. To face this problem, Shariah Advisory Council has been established. But the Multiplicity of Shariah authorities without judicial power has created confusion at various levels. Therefore, some experts have stressed the need for improving, empowering the Islamic financial, legal system to make it more integrated and holistic. In view of the above, an endeavor has been made in this paper to throw some light on the matters related to the adoption of the dual legal system. The paper is conceptual in nature and the method adopted is the intensive survey of literature thereby all the information has been gathered from the secondary sources.

Keywords: Islamic financial system, Islamic legal system, Islamic capital market (ICM) , traditional financial system

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Authors: Vipin Saini, Manish Kumar, Shailendra Bhatt, A. Pandurangan

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The aim of the present study was to fabricate a thermo sensitive gel containing Chlorpheniramine maleate (CPM) loaded nanoparticles following intranasal administration for effective treatment of allergic rhinitis. Chitosan based nanoparticles were prepared by precipitation method followed by the addition of developed NPs within the Poloxamer 407 and carbopol 934P based mucoadhesive thermo-reversible gel. Developed formulations were evaluated for Particle size, PDI, % entrapment efficiency and % cumulative drug permeation. NP3 formulation was found to be optimized on the basis of minimum particle size (143.9 nm), maximum entrapment efficiency (80.10±0.414 %) and highest drug permeation (90.92±0.531 %). The optimized formulation NP3 was then formulated into thermo reversible in situ gel. This intensifies the contact between nasal mucosa and the drug, increases and facilitates the drug absorption which results in increased bioavailability. G4 formulation was selected as the optimize on the basis of gelation ability and mucoadhesive strength. Histology was carried out to examine the damage caused by the optimized G4 formulation. Results revealed no visual signs of tissue damage thus indicated safe nasal delivery of nanoparticulate in situ gel formulation G4. Thus, intranasal CPM NP-loaded in situ gel was found to be a promising formulation for the treatment of allergic rhinitis.

Keywords: chitosan, nanoparticles, in situ gel, chlorpheniramine maleate, poloxamer 407

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Authors: Amr Sadek, Abdelrahaman Al-Qahtany, Turkey Salem Al-Qahtany

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In this study, a backpropagation artificial neural network (ANN) model has been used to predict the cooling and heating capacities of air conditioners (AC) under different conditions. Sufficiently large measurement results were obtained from the national energy-efficiency laboratories in Saudi Arabia and were used for the learning process of the ANN model. The parameters affecting the performance of the AC, including temperature, humidity level, specific heat enthalpy indoors and outdoors, and the air volume flow rate of indoor units, have been considered. These parameters were used as inputs for the ANN model, while the cooling and heating capacity values were set as the targets. A backpropagation ANN model with two hidden layers and one output layer could successfully correlate the input parameters with the targets. The characteristics of the ANN model including the input-processing, transfer, neurons-distance, topology, and training functions have been discussed. The performance of the ANN model was monitored over the training epochs and assessed using the mean squared error function. The model was then used to predict the performance of the AC under conditions that were not included in the measurement results. The optimum performance of the AC was also predicted under the different environmental conditions in Saudi Arabia. The uncertainty of the ANN model predictions has been evaluated taking into account the randomness of the data and lack of learning.

Keywords: artificial neural network, uncertainty of model predictions, efficiency of air conditioners, cooling and heating capacities

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Authors: Bhargavi G. Iyer, Ojaswi Bhagat

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It is often noted that the value of a novel idea lies in its successful implementation. However, successful implementation requires the nurturing and encouragement of innovation. Nascent competitors are a true representation of innovation in any given industry. A nascent competitor is an entity whose prospective innovation poses a future threat to an incumbent dominant competitor. While a nascent competitor benefits in several ways, it is also exposed significantly and is at greater risk of facing the brunt of exclusionary practises and abusive conduct by dominant incumbent competitors in the industry. This research paper aims to explore the risks and threats faced by nascent competitors and analyse the benefits they accrue as well as the advantages they proffer to the economy; through an analytical, critical study. In such competitive market environments, a rise of the acquisitions of nascent competitors by the incumbent dominants is observed. Therefore, this paper will examine the dynamics of nascent acquisition. Further, this paper hopes to specifically delve into the role of antitrust bodies in regulating nascent acquisition. This paper also aspires to deal with the question how to distinguish harmful from harmless acquisitions in order to facilitate ideal enforcement practice. This paper proposes mechanisms of scrutiny in order to ensure healthy market practises and efficient merger control in the context of nascent acquisitions. Taking into account the scope and nature of the topic, as well as the resources available and accessible, a combination of the methods of doctrinal research and analytical research were employed, utilising secondary sources in order to assess and analyse the subject of research. While legally evaluating the Killer Acquisition theory and the Nascent Potential Acquisition theory, this paper seeks to critically survey the precedents and instances of nascent acquisitions. In addition to affording a compendious account of the legislative framework and regulatory mechanisms in the United States, the United Kingdom, and the European Union; it hopes to suggest an internationally practicable legal foundation for domestic legislation and enforcement to adopt. This paper hopes to appreciate the complexities and uncertainties with respect to nascent acquisitions and attempts to suggest viable and plausible policy measures in antitrust law. It additionally attempts to examine the effects of such nascent acquisitions upon the consumer and the market economy. This paper weighs the argument of shifting the evidentiary burden on to the merging parties in order to improve merger control and regulation and expounds on its discovery of the strengths and weaknesses of the approach. It is posited that an effective combination of factual, legal, and economic analysis of both the acquired and acquiring companies possesses the potential to improve ex post and ex ante merger review outcomes involving nascent companies; thus, preventing anti-competitive practises. This paper concludes with an analysis of the possibility and feasibility of industry-specific identification of anti-competitive nascent acquisitions and implementation of measures accordingly.

Keywords: acquisition, antitrust law, exclusionary practises merger control, nascent competitor

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Authors: Rishav Shrestha, Yong Zhang

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The Anti-Stoke upconversion process has been used extensively for bioimaging and is recently being used for photoactivated therapy in cancer utilizing upconversion nanoparticles (UCNs). The UCNs have an excitation band at 980nm; 980nm laser excitation used to produce UV/Visible emissions also produce a heating effect. Light-to-heat conversion has been observed in nanoparticles(NPs) doped with neodymium(Nd) or ytterbium(Yb)/erbium(Er) ions. Despite laser-induced heating in Rare-earth doped NPs being proven to be a relatively efficient process, only few attempts to use them as photothermal agents in biosystems have been made up to now. Gold nanoparticles and carbon nanotubes are the most researched and developed for photothermal applications. Both have large heating efficiency and outstanding biocompatibility. However, they show weak fluorescence which makes them harder to track in vivo. In that regard, UCNs are attractive due to their excellent optical features in addition to their light-to-heat conversion and excitation by NIR, for imaging and spatiotemporally releasing drugs. In this work, we have utilized a simple method to coat Nd doped UCNs with thermoresponsive polymer PNIPAM on which 4-Hydroxytamoxifen (4-OH-T) is loaded. Such UCNs demonstrate a high loading efficiency and low leakage of 4-OH-T. Encouragingly, the release of 4-OH-T can be modulated by varying the power and duration of the NIR. Such UCNs were then used to demonstrate imaging and controlled photothermal release of 4-OH-T in MCF-7 breast cancer cells.

Keywords: cancer therapy, controlled release, photothermal release, upconversion nanoparticles

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Authors: Jiayun Shen, Lorenz Wyss, Thierry Golliard, Matthias Finger

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Innovation is widely recognized as the key for private enterprises to win the market competition. The state-owned-enterprises need to be innovative to compete in the market after the privatization as well. However, it is a lack of research to study how state-owned-enterprises manage innovation to create new products and services. Swiss Post, a Swiss state-owned-enterprises, has established a department to transform the corporate culture and foster innovation to achieve digital transformation. This paper describes the innovation management process at the Swiss Post and analyzes the impacts of the instruments, the organizational structure, and explores the barriers of innovation. This study used qualitative methods based on a review of the literature on innovation management and semi-structured interviews. Being established for over five years, the Swiss Post’s innovation management department has established a software-assisted modularized platform with systematic instruments to help the internal employees with the different innovation processes. It guides the innovators from idea creation to piloting in markets and supports with a separate financing source, with knowledge inputs and coaching, as well as with connections to external partners through the open innovation and venturing team. The platform also adapts to different business units within the corporate with a customized tailor for the various operational business units. The separate financing instruments enabled the creation and further development of new ideas; the coaching services contribute greatly to the transformation of teams’ innovation culture by providing new knowledge, thinking methods, and use cases for inspiration. It also facilitates organizational learning to help the whole corporate with the digital transformation. However, it is also confronted with a big challenge in twofold. Internally, the disruptive projects often hardly overcome the obstacles of long-established operational processes in the traditional business units; externally, the expectations of the public and restrictions from the federal government have become high hurdles for the company to stay and compete in the innovation track.

Keywords: empirical case study, innovation management, state-owned-enterprise, Swiss Post

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