Search results for: market efficiency

Authors: Mohammed El-Arbi Khalfallah, Mohamed Lakhdar Hadji

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Managing and controlling risk is a topic research in the world of finance. Before a risky situation, the stakeholders need to do comparison according to the positions and actions, and financial institutions must take measures of a particular market risk and credit. In this work, we study a model of risk measure in finance: Value at Risk (VaR), which is a new tool for measuring an entity's exposure risk. We explain the concept of value at risk, your average, tail, and describe the three methods for computing: Parametric method, Historical method, and numerical method of Monte Carlo. Finally, we briefly describe advantages and disadvantages of the three methods for computing value at risk.

Keywords: average value at risk, conditional value at risk, tail value at risk, value at risk

Procedia PDF Downloads 441

Authors: Young Yoon, Jinsoo Kim

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The adoption of information and communication technologies (ICT) in all industry is growing under industry 4.0. Many oil companies also are increasingly adopting ICT to improve the efficiency of existing operations, take more accurate and quicker decision making and reduce entire cost by optimization. It is true that ICT is playing an important role in the process of unconventional oil and gas development and companies must take advantage of ICT to gain competitive advantage. In this study, real option approach has been applied to Unconventional gas R&D project to evaluate ICT of them. Many unconventional gas reserves such as shale gas and coal-bed methane(CBM) has developed due to technological improvement and high energy price. There are many uncertainties in unconventional development on the three stage(Exploration, Development, Production). The traditional quantitative benefits-cost method, such as net present value(NPV) is not sufficient for capturing ICT value. We attempted to evaluate the ICT valuation by applying the compound option model; the model is applied to real CBM project case, showing how it consider uncertainties. Variables are treated as uncertain and a Monte Carlo simulation is performed to consider variables effect. Acknowledgement—This work was supported by the Energy Efficiency & Resources Core Technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20152510101880) and by the National Research Foundation of Korea Grant funded by the Korean Government (NRF-205S1A3A2046684).

Keywords: information and communication technologies, R&D, real option, unconventional gas

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Authors: Joan Edwards, J. Lawlor

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Technological innovation is frequently defined in terms of bringing a new invention to market through a relatively straightforward process of diffusion. In reality, this process is complex and non-linear in nature, and includes social and cognitive factors that influence the development of an emerging technology and its related market or environment. As recent studies contend technological trajectory is part of technological paradigms, which arise from the expectations and desires of industry agents and results in co-evolution, it may be realised that social factors play a major role in the development of a technology. It is conjectured that collective social behaviour is fuelled by individual motivations and expectations, which inform the possibilities and uses for a new technology. The individual outlook highlights the issues present at the micro-level of developing a technology. Accordingly, this may be zoomed out to realise how these embedded social structures, influence activities and expectations at a macro level and can ultimately strategically shape the development and use of a technology. These social factors rely on communication to foster the innovation process. As innovation may be defined as the implementation of inventions, technological change results from the complex interactions and feedback occurring within an extended environment. The framework presented in this paper, recognises that social mechanisms provide the basis for an iterative dialogue between an innovator, a new technology, and an environment - within which social and cognitive ‘identity-shaping’ elements of the innovation process occur. Identity-shaping characteristics indicate that an emerging technology has a performative nature that transforms, alters, and ultimately configures the environment to which it joins. This identity–shaping quality is termed as ‘performative’. This paper examines how technologies evolve within a socio-technological sphere and how 'performativity' facilitates the process. A framework is proposed that incorporates the performative elements which are identified as feedback, iteration, routine, expectations, and motivations. Additionally, the concept of affordances is employed to determine how the role of the innovator and technology change over time - constituting a more conducive environment for successful innovation.

Keywords: affordances, framework, performativity, strategic innovation

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Authors: Ahmed Salim, A. El Bouari, M. Tahiri, O. Tanane

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This research aims to develop and comprehensively characterize a cost-effective activated carbon derived from date residues, with a focus on optimizing its physicochemical properties to achieve superior performance in a variety of applications. The samples were synthesized via a chemical activation process utilizing phosphoric acid (H₃PO₄) as the activating agent. Activated carbon, produced through this method, functions as a vital adsorbent for the removal of contaminants, with a specific focus on methylene blue, from industrial wastewater. This study meticulously examined the influence of various parameters, including carbonization temperature and duration, on both the combustion properties and adsorption efficiency of the resultant material. Through extensive analysis, the optimal conditions for synthesizing the activated carbon were identified as a carbonization temperature of 600°C and a duration of 2 hours. The activated carbon synthesized under optimized conditions demonstrated an exceptional carbonization yield and methylene blue adsorption efficiency of 99.71%. The produced carbon was subsequently characterized using X-ray diffraction (XRD) analysis. Its effectiveness in the adsorption of methylene blue from contaminated water was then evaluated. A comprehensive assessment of the adsorption capacity was conducted by varying parameters such as carbon dosage, contact time, initial methylene blue concentration, and pH levels.

Keywords: environmental pollution, adsorbent, activated carbon, phosphoric acid, date Kernels, pollutants, adsorption

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Authors: Prasanna Kumar Acharya, Mausam Kumari Yadav

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Cement concrete has emerged as the most consumed construction material. It has also dominated all other construction materials because of its versatility. Apart from numerous advantages it has a disadvantage concerning durability. The large structures constructed with cement concrete involving the consumption of huge natural materials remain in serviceable condition for 5 – 7 decades only while structures made with stones stand for many centuries. The short life span of structures not only affects the economy but also affects the ecology greatly. As such, the improvement of durability of cement concrete is a global concern and scientists around the globe are trying for this purpose. Functionally graded concrete (FGC) is an exciting development. In contrast to conventional concrete, FGC demonstrates different characteristics depending on its thickness, which enables it to conform to particular structural specifications. The purpose of FGC is to improve the performance and longevity of conventional concrete structures with cutting-edge building materials. By carefully distributing various kinds and amounts of reinforcements, additives, mix designs and/or aggregates throughout the concrete matrix, this variety is produced. A key component of functionally graded concrete's performance is its durability, which affects the material's capacity to tolerate aggressive environmental influences and load-bearing circumstances. This paper reports the durability of FGC made using Portland slag cement (PSC). For this purpose, control concretes (CC) of M20, M30 and M40 grades were designed. Single-layered samples were prepared using each grade of concrete. Further using combinations of M20 + M30, M30 + M40 and M40 + M20, doubled layered concrete samples in a depth ratio of 1:1 was prepared those are herein called FGC samples. The efficiency of FGC samples was compared with that of the higher-grade concrete of parent materials in terms of compressive strength, water absorption, sorptivity, acid resistance, sulphate resistance, chloride resistance and abrasion resistance. The properties were checked at the age of 28 and 91 days. Apart from strength and durability parameters, the microstructure of CC and FGC were studied in terms of X-ray diffraction, scanning electron microscopy and energy-dispersive X-ray. The result of the study revealed that there is an increase in the efficiency of concrete evaluated in terms of strength and durability when it is made functionally graded using a layered technology having different grades of concrete in layers. The results may help to enhance the efficiency of structural concrete and its durability.

Keywords: fresh on compacted, functionally graded concrete, acid, chloride, sulphate test, sorptivity, abrasion, water absorption test

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Authors: Mohammad Hadi Khorashadi Zadeh ‎

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An entrepreneur is a manager or the owner of the commercial company that creates resources and money by risking and initiative. The Netpreneur is the capability to run an online business. It needs only the Connectivity. An Entrepreneur, as long as he has a service which the market demands can set up a feasible and viable trade with his Intellectual Capital as the principle input and the Connectivity Infrastructure as the only physical input. The internet is possibly the most significant revolution in science and technology that our generation could fantasize or imagine. It has introduced in various benefits to the society, culture, economics and politics. The entrepreneur is a premium member in the community. She/he provides services to the society and community including employment.

Keywords: entrepreneur, Netpreneur, intellectual capital, infrastructure

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Authors: Ahmed I. Al-Amoud

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A laboratory and field study were conducted on subsurface drip irrigation systems. In the first laboratory study, eight subsurface drip irrigation lines available locally, were selected and a number of experiments were made to evaluate line hydraulic characteristics to insure it's suitability for drip irrigation design requirements and high performance to select the best for field experiments. The second study involves field trials on mature date palm trees to study the effect of subsurface drip irrigation system on the yield and water consumption of date palms, and to compare that with the traditional surface drip irrigation system. Experiments were conducted in Alwatania Agricultural Project, on 50 mature palm trees (17 years old) of Helwa type with 10 meters spacing between rows and between trees. A high efficiency subsurface line (Techline) was used based on the results of the first study. Irrigation scheduling was made through a soil moisture sensing device to ensure enough soil water levels in the soil. Experiment layouts were installed during 2001 season, measurements continued till end of 2008 season. Results have indicated that there is an increase in the yield and a considerable saving in water compared to the conventional drip irrigation method. In addition there were high increases in water use efficiency using the subsurface system. The subsurface system proves to be durable and highly efficient for irrigating date palm trees.

Keywords: drip irrigation, subsurface drip irrigation, date palm trees, date palm water use, date palm yield

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Authors: Sana Eid, Ahmad S. Darwish, Tarek Lemaoui, Maguy Abi Jaoude, Fawzi Banat, Shadi W. Hasan, Inas M. AlNashef

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Addressing the growing challenge of per- and polyfluoroalkyl substances (PFAS) pollution in water bodies, this study introduces natural deep eutectic solvents (NADESs) as a pioneering solution for the efficient extraction of perfluorooctanoic acid (PFOA), one of the most persistent and concerning PFAS pollutants. Among the tested NADESs, trioctylphosphine oxide: lauric acid (TOPO:LauA) in a 1:1 molar ratio was distinguished as the most effective, achieving an extraction efficiency of approximately 99.52% at a solvent-to-feed (S:F) ratio of 1:2, room temperature, and neutral pH. This efficiency is achieved within a notably short mixing time of only one min, which is significantly less than the time required by conventional methods, underscoring the potential of TOPO:LauA for rapid and effective PFAS remediation. TOPO:LauA maintained consistent performance across various operational parameters, including a range of initial PFOA concentrations (0.1 ppm to 1000 ppm), temperatures (15 °C to 100 °C), pH values (3 to 9), and S:F ratios (2:3 to 1:7), demonstrating its versatility and robustness. Furthermore, its effectiveness was consistently high over seven consecutive extraction cycles, highlighting TOPO:LauA as a sustainable, environmentally friendly alternative to hazardous organic solvents, with promising applications for reliable, repeatable use in combating persistent water pollutants such as PFOA.

Keywords: deep eutectic solvents, natural deep eutectic solvents, perfluorooctanoic acid, water remediation

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Authors: Raed Hameed Allawi

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Wellbore instability problems are considered the majority challenge for several wells in the Ratawi shale formation. However, it results in non-productive (NPT) time and increased well-drilling expenditures. This work aims to construct an integrated mechanical earth model (MEM) to predict the wellbore failure and design optimum mud weight to improve the drilling efficiency of future wells. The MEM was based on field data, including open-hole wireline logging and measurement data. Several failure criteria were applied in this work, including Modified Lade, Mogi-Coulomb, and Mohr-Coulomb that utilized to calculate the proper mud weight and practical drilling paths and orientations. Results showed that the leading cause of wellbore instability problems was inadequate mud weight. Moreover, some improper drilling practices and heterogeneity of Ratawi formation were additional causes of the increased risk of wellbore instability. Therefore, the suitable mud weight for safe drilling in the Ratawi shale formation should be 11.5-13.5 ppg. Furthermore, the mud weight should be increased as required depending on the trajectory of the planned well. The outcome of this study is as practical tools to reduce non-productive time and well costs and design future neighboring deviated wells to get high drilling efficiency. In addition, the current results serve as a reference for similar fields in that region because of the lacking of published studies regarding wellbore instability problems of the Ratawi Formation in southern Iraqi oilfields.

Keywords: wellbore stability, hole collapse, horizontal stress, MEM, mud window

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Authors: Zhang Tao, Si Tang, Zhang Yufeng, Jin Jiahua

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Work pressure is an emerging research of organizational behavior. Many factors associated with this study also attracted the interest of scholars. Macao is surrounding by open micro-capitalist economy which has a high internationalization level and Mature operation system. And there is no doubt that tourism and hotel service industry is the pillar of the Macao economy with the developing of the mainland individual tourist visa. More and more cities are willing to inclusive culture diversity which lead to the amount of inbound tourists present high-speed up trend cause the hotel industry has a strong customer base and development space. At the same time, the hotel staff is an important role in the service. However, affected by some adverse factors, the hotel staff face a variety of pressures. This study combs the concept and theory of pressures relevant influencing factors and puts forward the purpose of this research. The focus of this study will be organizational supported by work efficiency and work pressure, using qualitative and quantitative research methods. Through questionnaires and interviews, 10 hotels in Macao were selected and 500 questionnaires were distributed to the employees. Statistical analysis software SPSS was used for descriptive statistics. By exploratory factor analysis and confirmatory factor analysis, effect. And the relevant practitioners on behalf of the interview content analysis. The innovation of this research lies in the empirical study of the relationship between the working pressure, organizational support and working efficiency of Macau hotel practitioners, and constructs and validates the structural model of the relationship among them. This model will be helpful for people to use more research methods to study hotel practitioners pressure in the future. At the same time, we can draw the following conclusions: 1. There is a significant negative correlation between salary level and job stress; 2. There is a significant negative correlation between job stress and performance; 3. Different organizational support can interfere the relationship between job stress and performance; 4. Put forward the strategy of relevance adjustment, which provides a reference value for the hotel industry in human resource management. It would be helpful to improve their service standard by training their practitioners more scientifically and rationally.

Keywords: Macau, perceived organizational support, work stress, work efficiency

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Authors: Essam Mansour

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The key purpose of this study is to show information-seeking behaviour of Kuwaiti Judges (KJs). Being one of the few studies about the information needs and information-seeking behaviour conducted in Arab and developing countries, this study is a pioneer one among many studies conducted in information seeking, especially with this significant group of information users. The authors tried to investigate this seeking behavior in terms of KJs' thoughts, perceptions, motivations, techniques, preferences, tools and barriers met when seeking information. The authors employed a questionnaire, with a response rate 77.2 percent. This study showed that most of KJs were likely to be older, educated and with a work experience ranged from new to old experience. There is a statistically reliable significant difference between KJs' demographic characteristics and some sources of information, such as books, encyclopedias, references and mass media. KJs were using information moderately to make a decision, to be in line with current events, to collect statistics and to make a specific/general research. The office and home were the most frequent location KJs were accessing information from. KJs' efficiency level of the English language is described to be moderately good, and a little number of them confirmed that their efficiency level of French was not bad. The assistance provided by colleagues, followed by consultants, translators, sectaries and librarians were found to be most strong types of assistance needed when seeking information. Mobile apps, followed by PCs, information networks (the Internet) and information databases were the highest technology tool used by KJs. Printed materials, followed by non-printed and audiovisual materials were the most preferred information formats KJs use. The use of languages, the recency of information and the place of information, the deficit role of the library to deliver information were at least significant barriers to KJs when seeking information.

Keywords: information users, information-seeking behaviour, information needs, judges, Kuwait

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Authors: Chaiyawat Musikapan, Ratchatin Chancharoen, Saknan Bongsebandhu-Phubhakdi

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For many recent years, soft robotic fingers were used for supporting the patients who had survived the neurological diseases that resulted in muscular disorders and neural network damages, such as stroke and Parkinson’s disease, and inflammatory symptoms such as De Quervain and trigger finger. Generally, the major hand function is significant to manipulate objects in activities of daily living (ADL). In this work, we proposed the model of soft actuator that manufactured by full 3D printing without the molding process and one material for use. Furthermore, we designed the model with a technique of multi cavitation cells (MC-Cells). Then, we demonstrated the curvature bending, fluidic pressure and force that generated to the model for assistive finger flexor and hand grasping. Also, the soft actuators were characterized in mathematics solving by the length of chord and arc length. In addition, we used an adaptive push-button switch machine to measure the force in our experiment. Consequently, we evaluated biomechanics efficiency by the range of motion (ROM) that affected to metacarpophalangeal joint (MCP), proximal interphalangeal joint (PIP) and distal interphalangeal joint (DIP). Finally, the model achieved to exhibit the corresponding fluidic pressure with force and ROM to assist the finger flexor and hand grasping.

Keywords: biomechanics efficiency, curvature bending, hand functional assistance, multi cavitation cells (MC-Cells), range of motion (ROM)

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Authors: Roberto Machado

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We conducted a systematic review using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses methodology, analyzing 2,996 studies and synthesizing 41 of them to explore the evolution of data science and its integration into geography. By employing optimization algorithms, we accelerated the review process, significantly enhancing the efficiency and precision of literature selection. Our findings indicate that data science has developed over five decades, facing challenges such as the diversified integration of data and the need for advanced statistical and computational skills. In geography, the integration of data science underscores the importance of interdisciplinary collaboration and methodological innovation. Techniques like large-scale spatial data analysis and predictive algorithms show promise in natural disaster management and transportation route optimization, enabling faster and more effective responses. These advancements highlight the transformative potential of data science in geography, providing tools and methodologies to address complex spatial problems. The relevance of this study lies in the use of optimization algorithms in systematic reviews and the demonstrated need for deeper integration of data science into geography. Key contributions include identifying specific challenges in combining diverse spatial data and the necessity for advanced computational skills. Examples of connections between these two fields encompass significant improvements in natural disaster management and transportation efficiency, promoting more effective and sustainable environmental solutions with a positive societal impact.

Keywords: data science, geography, systematic review, optimization algorithms, supervised learning

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Authors: Reem Alshiha, Tanzila Saba

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Physical rehabilitation is the process of helping people to recover and be able to go back to their former activities that have been delayed due to external factors such as car accidents, old age and victims of strokes (chronic diseases and accidents, and those related to sport activities).The cost of hiring a personal nurse or driving the patient to and from the hospital could be costly and time-consuming. Also, there are other factors to take into account such as forgetfulness, boredom and lack of motivation. In order to solve this dilemma, some experts came up with rehabilitation software to be used with Microsoft Kinect to help the patients and their families for in-home rehabilitation. In home rehabilitation software is becoming more and more popular, since it is more convenient for all parties affiliated with the patient. In contrast to the other costly market-based systems that have no portability, Microsoft’s Kinect is a portable motion sensor that reads body movements and interprets it. New software development has made rehabilitation games available to be used at home for the convenience of the patient. The game will benefit its users (rehabilitation patients) in saving time and money. There are many software's that are used with the Kinect for rehabilitation, but the software that is chosen in this research is Kinectotherapy. Kinectotherapy software is used for rehabilitation patients in Riyadh clinics to test its acceptance by patients and their physicians. In this study, we used Kinect because it was affordable, portable and easy to access in contrast to expensive market-based motion sensors. This paper explores the importance of in-home rehabilitation by using Kinect with Kinectotherapy software. The software targets both upper and lower limbs, but in this research, the main focus is on upper-limb functionality. However, the in-home rehabilitation is applicable to be used by all patients with motor disability, since the patient must have some self-reliance. The targeted subjects are patients with minor motor impairment that are somewhat independent in their mobility. The presented work is the first to consider the implementation of in-home rehabilitation with real-time feedback to the patient and physician. This research proposes the implementation of in-home rehabilitation in Riyadh, Saudi Arabia. The findings show that most of the patients are interested and motivated in using the in-home rehabilitation system in the future. The main value of the software application is due to these factors: improve patient engagement through stimulating rehabilitation, be a low cost rehabilitation tool and reduce the need for expensive one-to-one clinical contact. Rehabilitation is a crucial treatment that can improve the quality of life and confidence of the patient as well as their self-esteem.

Keywords: x-box, rehabilitation, physical therapy, rehabilitation software, kinect

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Authors: Dongwan Kang, Joohyung Oh, Chaetae Im

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Advancement of communication technologies and smart devices in the recent times is leading to changes into the integrated wired and wireless communication environments. Since early days, businesses had started introducing environments for mobile device application to their operations in order to improve productivity (efficiency) and the closed corporate environment gradually shifted to an open structure. Recently, individual user's interest in working environment using mobile devices has increased and a new corporate working environment under the concept of BYOD is drawing attention. BYOD (bring your own device) is a concept where individuals bring in and use their own devices in business activities. Through BYOD, businesses can anticipate improved productivity (efficiency) and also a reduction in the cost of purchasing devices. However, as a result of security threats caused by frequent loss and theft of personal devices and corporate data leaks due to low security, companies are reluctant about adopting BYOD system. In addition, without considerations to diverse devices and connection environments, there are limitations in detecting abnormal behaviors such as information leaks which use the existing network-based security equipment. This study suggests a method to detect abnormal behaviors according to individual behavioral patterns, rather than the existing signature-based malicious behavior detection and discusses applications of this method in BYOD environment.

Keywords: BYOD, security, anomaly behavior detection, security equipment, communication technologies

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Authors: Evans Oteng, Clement Yeboah, Alexander Otechere-Fianko

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In today’s economy, despite achievements and advances in the banking and financial institutions, there are challenges that will require intensive attempts on the portion of the banks in Ghana. The perceived decline in profitability of banks seems to have emanated from ineffective branding. Hence, the purpose of this quantitative descriptive-correlational study was to examine the effects of branding on the profitability of banks in Ghana. The researchers purposively sampled some 116 banks in Ghana. Self-developed Likert scale questionnaires were administered to the finance officers of the financial institutions. The results were found to be statistically significant, F (1, 114) = 4. 50, p = .036. This indicates that those banks in Ghana with good branding practices have strong marketing tools to identify and sell their products and services and, as such, have a big market share. The correlation coefficients indicate that branding has a positive correlation with profitability and are statistically significant (r=.207, p<0.05), which signifies that as branding increases, the return on equity’s profitability indicator improves and vice versa. Future researchers can consider other factors beyond branding, such as online banking. The study has significant implications for the success and competitive advantage of those banks that effective branding allows them to differentiate themselves from their competitors. A strong and unique brand identity can help a bank stand out in a crowded market, attract customers, and build customer loyalty. This can lead to increased market share and profitability. Branding influences customer perception and trust. A well-established and reputable brand can create a positive image in the minds of customers, enhancing their confidence in the bank's products and services. This can result in increased customer acquisition, customer retention and a positive impact on profitability. Banks with strong brands can leverage their reputation and customer trust to cross-sell additional products and services. When customers have confidence in the brand, they are more likely to explore and purchase other offerings from the same institution. Cross-selling can boost revenue streams and profitability. Successful branding can open up opportunities for brand extensions and diversification into new products or markets. Banks can leverage their trusted brand to introduce new financial products or expand their presence into related areas, such as insurance or investment services. This can lead to additional revenue streams and improved profitability. This study can have implications for education. Thus, increased profitability of banks due to effective branding can result in higher financial resources available for corporate social responsibility (CSR) activities. Banks may invest in educational initiatives, such as scholarships, grants, research projects, and sponsorships, to support the education sector in Ghana. Also, this study can have implications for logistics and supply chain management. Thus, strong branding can create trust and credibility among customers, leading to increased customer loyalty. This loyalty can positively impact the bank's relationships with its suppliers and logistics partners. It can result in better negotiation power, improved supplier relationships, and enhanced supply chain coordination, ultimately leading to more efficient and cost-effective logistics operations.

Keywords: branding, profitability, competitors, customer loyalty, customer retention, corporate social responsibility, cost-effective, logistics operations

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Authors: Hui Wu, Ye Li

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Applying the structural break estimation method proposed by Perron and Bai (1998) to the housing price growth rate of top 5 MSAs in the Texas area, this paper estimated the structural break date for the growth rate of housing prices index. As shown in the estimation results, the break dates for each region are quite different, which indicates the heterogeneity of the housing market in response to macroeconomic conditions.

Keywords: structural break, housing prices index, ADF test, linear model

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Authors: Natalia M. Acevedo, Luis M. Jimenez, Erick Lambis

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Imperfections in the capital market are used to argue the relevance of the corporate risk management function. With corporate hedge, the value of the company is increased by reducing the volatility of the expected cash flow and making it possible to face a lower bankruptcy costs and financial difficulties, without sacrificing tax advantages for debt financing. With the propose to avoid exchange rate troubles over cash flows of Colombian exporting firms, this dissertation uses financial options, over exchange rate between Peso and Dollar, for realizing a financial hedge. In this study, a strategy of hedge is designed for an exporting company in Colombia with the objective of preventing fluctuations because, if the exchange rate down, the number of Colombian pesos that obtains the company by exports, is less than agreed. The exchange rate of Colombia is measured by the TRM (Representative Market Rate), representing the number of Colombian pesos for an American dollar. First, the TMR is modelled through the Geometric Brownian Motion, with this, the project price is simulated using Montecarlo simulations and finding the mean of TRM for three, six and twelve months. For financial hedging, currency options were used. The 6-month projection was covered with financial options on European-type currency with a strike price of $ 2,780.47 for each month; this value corresponds to the last value of the historical TRM. In the compensation of the options in each month, the price paid for the premium, calculated with the Black-Scholes method for currency options, was considered. Finally, with the modeling of prices and the Monte Carlo simulation, the effect of the exchange hedging with options on the exporting company was determined, this by means of the unit price estimate to which the dollars in the scenario without coverage were changed and scenario with coverage. After using the scenarios: is determinate that the TRM will have a bull trend and the exporting firm will be affected positively because they will get more pesos for each dollar. The results show that the financial options manage to reduce the exchange risk. The expected value with coverage is approximate to the expected value without coverage, but the 5% percentile with coverage is greater than without coverage. The foregoing indicates that in the worst scenarios the exporting companies will obtain better prices for the sale of the currencies if they cover.

Keywords: currency hedging, futures, geometric Brownian motion, options

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Authors: Mahabub Alam, Mohammad Mahmudul Hassan, M. Hasanuzzaman, M. Ahasanul Hoque

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Animals are transported from one place to another for different purposes in Bangladesh. However, the potential effect of long-distance transport on cattle health has not frequently been studied. Therefore, this study was conducted to assess health conditions of cattle transported from a long distance to Chittagong in Bangladesh. A total of 100 adult cattle, regardless of breed and sex, were selected at Benapole live cattle market in Jessore between August and September 2015 for the study. Blood samples were taken from 50 randomly selected cattle at 0 hours before transportation, just after transportation, at 12-16 hours post-conclusion of transportation, and 24 hours after transportation. The external health conditions and injuries of the cattle were assessed by close inspection, and the trader was interviewed using the structured questionnaire. Images of cattle injuries were taken with a camera. The basic internal health of the cattle was evaluated using standard hemato-biochemical tests. Animals were fasted and remained standing within a small space allocation (8-10 sq feet/animal) in the vehicle during transportation. Animals were provided only with paddy straw and water prior to selling at the destination market. The overall frequency of cattle injuries varied significantly (26% before vs. 47% after transportation; p < 0.001). The frequency of different cattle injuries also significantly varied by types such as abrasion (11% vs. 21%; p < 0.05) and barbed wire injury (9% vs. 18%; p < 0.05). Single cattle injury differed significantly (21% vs. 36%; p < 0.001). Cattle health conditions varied significantly (nasal discharge: 15% vs. 28%; p < 0.05; diarrhea: 15% vs. 23%; p < 0.05 and severe dehydration: 8% vs. 20%; p < 0.001). The values of hemoglobin (Hb), total erythrocyte count (TEC), total leukocyte count (TLC), lymphocyte (L), neutrophil (N) and eosinophil (E) varied significantly (p ≤ 0.01) (Hb: 11.1mg/dl vs. 12.3mg/dl; TEC: 4.7 million/ml vs. 5.7million/ml; TLC: 6.2 thousand/ml vs. 7.3 thousand/ml; L: 61.7% vs. 58.1%; N: 29.7% vs. 32.8%; E: 3.8% vs. 4.7%). The values of serum total protein (TP), creatine kinase (CK), triglyceride (TG), calcium (Ca), phosphorus (P) and alkaline phosphatase (ALP) significantly differed (p ≤ 0.05) (TP: 6.8g/dl vs. 8.2g/dl; CK:574.9u/l vs. 1288u/l; TG: 104.7mg/dl vs. 127.7mg/dl; Ca: 11.3mg/dl vs. 13mg/dl; P: 7.3mg/dl vs. 7.6mg/dl; ALP: 303u/l vs. 363u/l). The identified status of external and internal health conditions of the cattle for trading purpose due to long-distance transportation in the present study indicates a high degree of transport stress and poor animal welfare.

Keywords: animal welfare, cattle, external and internal health conditions, transportation

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Authors: D. Hephzibah, P. Kumaran, N. M. Saifuddin

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Anaerobic digestion is a well-known technique for sustainable energy recovery from sewage sludge. However, sewage sludge digestion is restricted due to certain factors. Pre-treatment methods have been established in various publications as a promising technique to improve the digestibility of the sewage sludge and to enhance the biogas generated which can be used for energy recovery. In this study, continuous flow microwave (MW) pre-treatment with different intensities were compared by using 5 L semi-continuous digesters at a hydraulic retention time of 27 days. We focused on the effects of MW at different intensities on the sludge solubilization, sludge digestibility, and biogas production of the untreated and MW pre-treated sludge. The MW pre-treatment demonstrated an increase in the ratio of soluble chemical oxygen demand to total chemical oxygen demand (sCOD/tCOD) and volatile fatty acid (VFA) concentration. Besides that, the total volatile solid (TVS) removal efficiency and tCOD removal efficiency also increased during the digestion of the MW pre-treated sewage sludge compared to the untreated sewage sludge. Furthermore, the biogas yield also subsequently increases due to the pre-treatment effect. A higher MW power level and irradiation time generally enhanced the biogas generation which has potential for sustainable energy recovery from sewage treatment plant. However, the net energy balance tabulation shows that the MW pre-treatment leads to negative net energy production.

Keywords: anaerobic digestion, biogas, microwave pre-treatment, sewage sludge

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Authors: Michel Pons, Anthony Delahaye, Laurence Fournaison

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Secondary refrigeration consists of splitting large-size direct-cooling units into volume-limited primary cooling units complemented by secondary loops for transporting and distributing cold. Such a design reduces the refrigerant leaks, which represents a source of greenhouse gases emitted into the atmosphere. However, inserting the secondary circuit between the primary unit and the ‘users’ heat exchangers (UHX) increases the energy consumption of the whole process, which induces an indirect emission of greenhouse gases. It is thus important to check whether that efficiency loss is sufficiently limited for the change to be globally beneficial to the environment. Among the likely secondary fluids, phase change slurries offer several advantages: they transport latent heat, they stabilize the heat exchange temperature, and the formerly evaporators still can be used as UHX. The temperature level can also be adapted to the desired cooling application. Herein, the slurry {ice in mono-propylene-glycol solution} (melting temperature Tₘ of 6°C) is considered for food preservation, and the slurry {mixed hydrate of CO₂ + tetra-n-butyl-phosphonium-bromide in aqueous solution of this salt + CO₂} (melting temperature Tₘ of 13°C) is considered for air conditioning. For the sake of thermodynamic consistency, the analysis encompasses the whole process, primary cooling unit plus secondary slurry loop, and the various properties of the slurries, including their non-Newtonian viscosity. The design of the whole process is optimized according to the properties of the chosen slurry and under explicit constraints. As a first constraint, all the units must deliver the same cooling power to the user. The other constraints concern the heat exchanges areas, which are prescribed, and the flow conditions, which prevent deposition of the solid particles transported in the slurry, and their agglomeration. Minimization of the total energy consumption leads to the optimal design. In addition, the results are analyzed in terms of exergy losses, which allows highlighting the couplings between the primary unit and the secondary loop. One important difference between the ice-slurry and the mixed-hydrate one is the presence of gaseous carbon dioxide in the latter case. When the mixed-hydrate crystals melt in the UHX, CO₂ vapor is generated at a rate that depends on the phase change kinetics. The flow in the UHX, and its heat and mass transfer properties are significantly modified. This effect has never been investigated before. Lastly, inserting the secondary loop between the primary unit and the users increases the temperature difference between the refrigerated space and the evaporator. This results in a loss of global energy efficiency, and therefore in an increased energy consumption. The analysis shows that this loss of efficiency is not critical in the first case (Tₘ = 6°C), while the second case leads to more ambiguous results, partially because of the higher melting temperature.The consequences in terms of greenhouse gases emissions are also analyzed.

Keywords: exergy, hydrates, optimization, phase change material, thermodynamics

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Authors: Othman M. Hakami, Abdul Jabbar Al-Rajab

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Occurrence of heavy metals in water resources increased in the recent years albeit at low concentrations. Lead (PbII) is among the most important inorganic pollutants in ground and surface water. However, removal of this toxic metal efficiently from water is of public and scientific concern. In this study, we developed a rapid and efficient removal method of lead from water using chitosan/magnetite nanoparticles. A simple and effective process has been used to prepare chitosan/magnetite nanoparticles (NPs) (CS/Mag NPs) with effect on saturation magnetization value; the particles were strongly responsive to an external magnetic field making separation from solution possible in less than 2 minutes using a permanent magnet and the total Fe in solution was below the detection limit of ICP-OES (<0.19 mg L-1). The hydrodynamic particle size distribution increased from an average diameter of ~60 nm for Fe3O4 NPs to ~75 nm after chitosan coating. The feasibility of the prepared NPs for the adsorption and desorption of Pb(II) from water were evaluated using Chitosan/Magnetite NPs which showed a high removal efficiency for Pb(II) uptake, with 90% of Pb(II) removed during the first 5 minutes and equilibrium in less than 10 minutes. Maximum adsorption capacities for Pb(II) occurred at pH 6.0 and under room temperature were as high as 85.5 mg g-1, according to Langmuir isotherm model. Desorption of adsorbed Pb on CS/Mag NPs was evaluated using deionized water at different pH values ranged from 1 to 7 which was an effective eluent and did not result the destruction of NPs, then, they could subsequently be reused without any loss of their activity in further adsorption tests. Overall, our results showed the high efficiency of chitosan/magnetite nanoparticles (NPs) in lead removal from water in controlled conditions, and further studies should be realized in real field conditions.

Keywords: chitosan, magnetite, water, treatment

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Authors: Hassan Athari, Alireza Ruhi Sales, Amin Pourafshar, Seyyed Mehdi Pestei, Marc. A. Rosen

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In order to achieve high efficiency and high specific work with lower emissions, the use of advanced gas turbine cycles for power generation is useful and advantageous. Here, evaporative inlet air cooling is analyzed thermodynamically in the form of air film blade cooling of gas turbines. As the ambient temperature increases during summer months, the performance of gas turbines particularly the output power and energy efficiency are significantly decreased. The utilization of evaporative inlet cooling in gas turbine cycles increases gas turbine performance, which can assist to solve the problem in meeting the increasing demands for electrical power and offsetting shortages during peak load times. In the present research, because of the importance of turbine blade cooling, the turbine is investigated with cold compressed air used for cooling the turbine blades. The investigation of the basic and modified cycles shows that, by adding an evaporative cooler to a simple gas turbine cycle, for a turbine inlet temperature of 1400 °C, an ambient temperature of 45 °C and a relative humidity of 15%, the specific work can reach 331 (kJ/kg air), while the maximum specific work of a simple cycle for the same conditions is 273.7 (kJ/kg air). The exergy results reveal that the highest exergy destruction occurs in the combustion chamber, where the large temperature differences and highly exothermic chemical reactions are the main sources of the irreversibility.

Keywords: energy, exergy, wet compression, air-film cooling blade, gas turbine

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Authors: Muhammad Awais Kiani

Abstract:

The field of electronics engineering plays a vital role in the marketing of smart materials. Smart materials are innovative, adaptive materials that can respond to external stimuli, such as temperature, light, or pressure, in order to enhance performance or functionality. As the demand for smart materials continues to grow, it is crucial to understand how electronics engineering can contribute to their marketing strategies. This abstract presents an overview of the role of electronics engineering in the marketing of smart materials. It explores the various ways in which electronics engineering enables the development and integration of smart features within materials, enhancing their marketability. Firstly, electronics engineering facilitates the design and development of sensing and actuating systems for smart materials. These systems enable the detection and response to external stimuli, providing valuable data and feedback to users. By integrating sensors and actuators into materials, their functionality and performance can be significantly enhanced, making them more appealing to potential customers. Secondly, electronics engineering enables the creation of smart materials with wireless communication capabilities. By incorporating wireless technologies such as Bluetooth or Wi-Fi, smart materials can seamlessly interact with other devices, providing real-time data and enabling remote control and monitoring. This connectivity enhances the marketability of smart materials by offering convenience, efficiency, and improved user experience. Furthermore, electronics engineering plays a crucial role in power management for smart materials. Implementing energy-efficient systems and power harvesting techniques ensures that smart materials can operate autonomously for extended periods. This aspect not only increases their market appeal but also reduces the need for constant maintenance or battery replacements, thus enhancing customer satisfaction. Lastly, electronics engineering contributes to the marketing of smart materials through innovative user interfaces and intuitive control mechanisms. By designing user-friendly interfaces and integrating advanced control systems, smart materials become more accessible to a broader range of users. Clear and intuitive controls enhance the user experience and encourage wider adoption of smart materials in various industries. In conclusion, electronics engineering significantly influences the marketing of smart materials by enabling the design of sensing and actuating systems, wireless connectivity, efficient power management, and user-friendly interfaces. The integration of electronics engineering principles enhances the functionality, performance, and marketability of smart materials, making them more adaptable to the growing demand for innovative and connected materials in diverse industries.

Keywords: electronics engineering, smart materials, marketing, power management

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Authors: L. Richter, J. Lübkemann, P. Nyhuis

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In order to remain competitive in what is a turbulent environment; businesses must be able to react rapidly to change. The past response to volatile market conditions was to introduce an element of flexibility to production. Nowadays, what is often required is a redesign of factory structures in order to cope with the state of constant flux. The Institute of Production Systems and Logistics is currently developing a descriptive and causal model for the redesign of plant structures as part of an ongoing research project. This article presents the first research findings attained in devising this model.

Keywords: change driven factory redesign, factory planning, plant structure, flexibility

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Authors: Shuo Mu, Guangzhi Jiang, Jinsa Chen

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The analysis of Indel for RNA sequencing of clinical samples is easily affected by sequencing experiment errors and software selection. In order to improve the efficiency and accuracy of analysis, we developed an automatic reporting system for Indel recognition and annotation based on image snapshot of transcriptome reads alignment. This system includes sequence local-assembly and realignment, target point snapshot, and image-based recognition processes. We integrated high-confidence Indel dataset from several known databases as a training set to improve the accuracy of image processing and added a bioinformatical processing module to annotate and filter Indel artifacts. Subsequently, the system will automatically generate data, including data quality levels and images results report. Sanger sequencing verification of the reference Indel mutation of cell line NA12878 showed that the process can achieve 83% sensitivity and 96% specificity. Analysis of the collected clinical samples showed that the interpretation accuracy of the process was equivalent to that of manual inspection, and the processing efficiency showed a significant improvement. This work shows the feasibility of accurate Indel analysis of clinical next-generation sequencing (NGS) transcriptome. This result may be useful for RNA study for clinical samples with microsatellite instability in immunotherapy in the future.

Keywords: automatic reporting, indel, next-generation sequencing, NGS, transcriptome

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Authors: Erico Da Silva Lima, Tiago Neves Pereira Valente, Roberto De Oliveira Roça

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Introduction: Over the last few years the market has increased its demand for high quality meat. Based on this premise some producers have continuously improved their efficiency in breeding beef cattle with the purpose to support this demand. It is well recognized that final quality of beef is intimately linked to animal’s diet. The key objective of this study is to evaluate the influence of feeding animals with cottonseed and its lipids and the final results in terms of pH and shear forces of the meat. Materials and Methods: The study was carried out in the Chapéu de Couro Farm in Aguaí/SP, Brazil. A group of 39 uncastrated Nellore cattle. Mean age of the animals was 36 months and initial mean live weight was 494.1 ± 10.1. Animals were randomly assigned to one of three treatments, based on dry matter: feed with control diet 2.50% cottonseed, feed with 11.50% cottonseed, and feed with 3.13% cottonseed added of 1.77% protected lipid. Forage:concentrate ratio was 50:50 on a dry matter basis. Sugar cane chopped was used as forage. After slaughter, carcasses were identified and divided into two halves that were kept in a cold chamber for 24 h at 2°C. Using pH meter was determined post-mortem pH in Longissimus thoracis muscle between the 12th and 13th rib of the left half carcass. After, part of each animal was removed, and divided in three samples (steaks). Steaks were 2.5 cm thick and were identified and stored individually in plastic bags under vacuum. Samples were frozen in a freezer at -18°C. The same samples cooked were refrigerated by 12 h the 4°C, and then cut into cylinders 1.10 Øcm with the support of a drill press avoiding fats and nerves. Shear force was calculated in these samples cut into cylinders through the Brookfield texture CT3 Texture Analyzer 25 k equipped with a set of blade Warner-Bratzler. Results and Discussion: No differences (P > 0.05) in pH 24 h after slaughter were observed in the meat of Nellore cattle fed different sources of fat, and mean value for this variable was 5.59. However, for the shear force differences (P < 0.05) were founded. For diet with 2,50% cottonseed the lowest value found 5.10 (kg) while for the treatment with 11.50% cottonseed the great value found was 6.30 (kg). High shear force values mean greater texture of meat that indicates less tenderness. The texture of the meat can be influenced by age, weight to the slaughter of animals. For cattle breed Nellore Bos taurus indicus more high value of shear force. Conclusions: The add the cottonseed or protected lipid in diet is not affected pH values in meat. The whole cottonseed does not contribute to the improvement of tenderness of the meat. Acknowledgments: IFGoiano, FAPEG and CNPq (Brazil).

Keywords: beef quality, cottonseed, protected fat, shear force

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Authors: Rasaq Adekunle Olabomi

Abstract:

More than 30% of the global building energy consumption is attributed to heating, ventilation and air-conditioning (HVAC) due to increasing urbanization and the need for more personal comfort. While heating is predominant in the temperate regions (especially during winter), comfort cooling is constantly needed in tropical regions such as Nigeria. This makes cooling a major contributor to the peak electrical load in the tropics. Meanwhile, the high solar energy availability in the tropical climate region presents a higher application potentials for solar thermal cooling systems; more so, the need for cooling mostly coincides with the solar energy availability. In addition to huge energy consumption, conventional (compressor type) air-conditioning systems mostly use refrigerants that are regarded as environmental unfriendly because of their ozone depletion potentials; this has made the alternative cooling systems to become popular in the present time. The better thermal capacity and less pumping power requirement of chilled water than chilled air has also made chilled water a preferred option over the chilled air cooling system. Radiant floor chilled water cooling is particularly is also considered suitable for spaces such as meeting room, seminar hall, auditorium, airport arrival and departure halls among others. This study did the analysis of the feasibility and energy efficiency of solar thermal chilled water for radiant flood cooling of an office apartment in a tropical climate city in Nigeria with a view to recommend its up-scaling. The analysis considered the weather parameters including available solar irradiance (kWh/m2-day) as well as the technical details of the solar thermal cooling systems to determine the feasibility. Project cost, its energy savings, emission reduction potentials and cost-to-benefits ration are used to analyze its energy efficiency as well as the viability of the cooling system. The techno-economic analysis of the proposed system, carried out using RETScreen software shows that its viability in but SWOT analysis of policy and institutional framework to promote solar energy utilization for the cooling systems shows weakness such as poor infrastructure and inadequate local capacity for technological development as major challenges.

Keywords: cooling load, absorption cooling system, coefficient of performance, radiant floor, cost saving, emission reduction

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Authors: P. Booma Devi, Dilip A. Shah

Abstract:

This paper seeks the potentials of studying aerodynamic characteristics of inward cavities called dimples, as an alternative to the classical vortex generators. Increasing stalling angle is a greater challenge in wing design. But our examination is primarily focused on increasing lift. In this paper, enhancement of lift is mainly done by introduction of dimple or cavity in a wing. In general, aircraft performance can be enhanced by increasing aerodynamic efficiency that is lift to drag ratio of an aircraft wing. Efficiency improvement can be achieved by improving the maximum lift co-efficient or by reducing the drag co-efficient. At the time of landing aircraft, high angle of attack may lead to stalling of aircraft. To avoid this kind of situation, increase in the stalling angle is warranted. Hence, improved stalling characteristic is the best way to ease landing complexity. Computational analysis is done for the wing segment made of NACA 0012. Simulation is carried out for 30 m/s free stream velocity over plain airfoil and different types of cavities. The wing is modeled in CATIA V5R20 and analyses are carried out using ANSYS CFX. Triangle and square shapes are used as cavities for analysis. Simulations revealed that cavity placed on wing segment shows an increase of maximum lift co-efficient when compared to normal wing configuration. Flow separation is delayed at downstream of the wing by the presence of cavities up to a particular angle of attack.

Keywords: lift, drag reduce, square dimple, triangle dimple, enhancement of stall angle

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Authors: T. Asefi, J. Faiz, M. A. Khan

Abstract:

This paper introduces dual rotor axial flux machines with surface mounted and spoke type ferrite permanent magnets with concentrated windings; they are introduced as alternatives to a generator with surface mounted Nd-Fe-B magnets. The output power, voltage, speed and air gap clearance for all the generators are identical. The machine designs are optimized for minimum mass using a population-based algorithm, assuming the same efficiency as the Nd-Fe-B machine. A finite element analysis (FEA) is applied to predict the performance, emf, developed torque, cogging torque, no load losses, leakage flux and efficiency of both ferrite generators and that of the Nd-Fe-B generator. To minimize cogging torque, different rotor pole topologies and different pole arc to pole pitch ratios are investigated by means of 3D FEA. It was found that the surface mounted ferrite generator topology is unable to develop the nominal electromagnetic torque, and has higher torque ripple and is heavier than the spoke type machine. Furthermore, it was shown that the spoke type ferrite permanent magnet generator has favorable performance and could be an alternative to rare-earth permanent magnet generators, particularly in wind energy applications. Finally, the analytical and numerical results are verified using experimental results.

Keywords: axial flux, permanent magnet generator, dual rotor, ferrite permanent magnet generator, finite element analysis, wind turbines, cogging torque, population-based algorithms

Procedia PDF Downloads 152