Search results for: firm financial performance

Authors: Michael Tunde Ajayi, Oluwakemi Enitan Fapojuwo

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The study assessed employees’ perception of organizational communication in Oyo State Agricultural Development Programme and its effect on their job performance. A simple random sampling technique was used to select 120 employees using a structured questionnaire for data collection. Findings showed that 66.7% of the respondents were males and 60.4% were between the ages of 31-40 years. Most (87.5%) of the respondents had tertiary education and majority of the respondents (73.9%) had working experience of 5 years or less. Major perceived leadership styles used in communicating to the employees were that employees were not allowed to send feedbacks (X=3.23), information was usually inadequately passed across to the employees (X=2.52), information are given with explanation (X=2.04), leaders rarely gave information on innovation (X=1.91) and information are usually passed in form of order (X=1.89). However, majority (61.5%) of the respondents perceived that the common communication flow used is downward communication system. Respondents perceived that the effects of organizational communication on their job performance were that they were able to know the constraints within the organization (X= 4.89), solve the problem occurring in the organization (X=4.70) and achieve organization objectives (X= 4.40). However, major constraints affecting organizational communication were that there were no cordial relationship among workers (X=3.33), receivers had poor listening skills (X=3.32) and information were not in simple forms (X=3.29). There was a significant relationship between organizational communication (r= 0.984, p<0.05) and employees’ job performance. The study suggested that managers should encourage cordial relationship among workers in other to ease communication flow in organizations and also use adequate medium of communication in other to make information common within organizations.

Keywords: employees’ perception, organizational communication, effects, job performance

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Authors: Olesya Bolkhovskaya, Alexander Maltsev

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Antenna arrays are widely used in modern radio systems in sonar and communications. The solving of the detection problems of a useful signal on the background of noise is based on the GLRT method. There is a large number of problem which depends on the known a priori information. In this work, in contrast to the majority of already solved problems, it is used only difference spatial properties of the signal and noise for detection. We are analyzing the influence of the degree of non-coherence of signal and noise unhomogeneity on the performance characteristics of different GLRT statistics. The description of the signal and noise is carried out by means of the spatial covariance matrices C in the cases of different number of known information. The partially coherent signal is simulated as a plane wave with a random angle of incidence of the wave concerning a normal. Background noise is simulated as random process with uniform distribution function in each element. The results of investigation of degradation of performance characteristics for different cases are represented in this work.

Keywords: GLRT, Neumann-Pearson’s criterion, Test-statistics, degradation, spatial processing, multielement antenna array

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Authors: Vakhtang Charaia, Mariam Lashkhi

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Foreign direct investment (FDI) plays a vital role in global business. It provides firms with new markets and advertising channels, cheaper production facilities, admission to new technology, products, skills and financing. FDI can provide a recipient country/company with a source of new technologies, capital, practice, products, management skills, and as such can be a powerful drive for economic development. It is one of the key elements of stable economic development in many countries, especially in developing ones. Therefore the size of FDI inflow is one of the most crustal factors for economic perfection in small economy countries (like, Georgia), while most of developed ones are net exporters of FDI. Since, FDI provides firms with new markets; admission to new technologies, products and management skills; marketing channels; cheaper production facilities, and financing opportunities. It plays a significant role in Georgian economic development. Increasing FDI inflows from all over the world to Georgia in last decade was achieved with the outstanding reforms managed by the Georgian government. However, such important phenomenon as world financial crisis and Georgian-Russian war put its consequence on the over amount of FDI inflow in Georgia in the last years. It is important to mention that the biggest investor region for Georgia is EU, which is interested in Georgia not only from the economic points of view but from political. The case studies from main EU investor countries show that Georgia has a big potential of investment in different areas, such as; financial sector, energy, construction, tourism industry, transport and communications. Moreover, signing of Association Agreement between Georgia and EU will further boost all the fields of economy in Georgia in both short and long terms. It will attract more investments from different countries and especially from EU. The last, but not least important issue is the calculation of annual FDI inflow to Georgia, which it is calculated differently by different organizations, based on different methodologies, but what is more important is that all of them show significant increase of FDI in last decade, which gives a positive signal to investors and underlines necessity of further improvement of investment climate in the same direction.

Keywords: foreign direct investment (FDI), Georgia, investment development path, investment climate

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Authors: Ich Long Ngo, Dinh Tai Dang, Ngoc Tu Nguyen, Minh Duc Nguyen

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This paper describes an investigation on designing and enhancing the performance of H-Darrieus wind turbine (HDWT) of 10kW at the medium wind speed. The aerodynamic characteristics of this turbine were investigated by both theoretical and numerical approaches. The optimal design procedure was first proposed to enhance the power coefficient under various effects, such as airfoil type, number of blades, solidity, aspect ratio, and tip speed ratio. As a result, the overall design of the 10kW HDWT was well achieved, and the power characteristic of this turbine was found by numerical approach. Additionally, the maximum power coefficient predicted is up to 0.41 at the tip speed ratio of 3.7 and wind speed of 8 m/s. Particularly, a generalized correlation of power coefficient with tip speed ratio and wind speed is first proposed. These results obtained are very useful for enhancing the performance of the HDWTs placed in a country with high wind power potential like Vietnam.

Keywords: computational fluid dynamics, double multiple stream tube, h-darrieus wind turbine, renewable energy

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Authors: Nihat Dipova, Bulent Cangir

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This article presents the results of probabilistic seismic hazard analysis (PSHA) for Antalya (SW Turkey). South west of Turkey is characterized by large earthquakes resulting from the continental collision between the African, Arabian and Eurasian plates and crustal faults. Earthquakes around the study area are grouped into two; crustal earthquakes (D=0-50 km) and subduction zone earthquakes (50-140 km). Maximum observed magnitude of subduction earthquakes is Mw=6.0. Maximum magnitude of crustal earthquakes is Mw=6.6. Sources for crustal earthquakes are faults which are related with Isparta Angle and Cyprus Arc tectonic structures. A new earthquake catalogue for Antalya, with unified moment magnitude scale has been prepared and seismicity of the area around Antalya city has been evaluated by defining ‘a’ and ‘b’ parameters of the Gutenberg-Richter recurrence relationship. The Standard Cornell-McGuire method has been used for hazard computation utilizing CRISIS2007 software. Attenuation relationships proposed by Chiou and Youngs (2008) has been used for 0-50 km earthquakes and Youngs et. al (1997) for deep subduction earthquakes. Finally, Seismic hazard map for peak horizontal acceleration on a uniform site condition of firm rock (average shear wave velocity of about 1130 m/s) at a hazard level of 10% probability of exceedance in 50 years has been prepared.

Keywords: Antalya, peak ground acceleration, seismic hazard assessment, subduction

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Authors: Fernanda A. P. Peres, Thiago N. Peres, Flavio S. Fogliatto, Michel J. Anzanello

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Batch processes are widely used in food industry and have an important role in the production of high added value products, such as chocolate. Process performance is usually described by variables that are monitored as the batch progresses. Data arising from these processes are likely to display a strong correlation-autocorrelation structure, and are usually monitored using control charts based on multiway principal components analysis (MPCA). Process control of a new batch is carried out comparing the trajectories of its relevant process variables with those in a reference set of batches that yielded products within specifications; it is clear that proper determination of the reference set is key for the success of a correct signalization of non-conforming batches in such quality control schemes. In chocolate manufacturing, misclassifications of non-conforming batches in the conching phase may lead to significant financial losses. In such context, the accuracy of process control grows in relevance. In addition to that, the main assumption in MPCA-based monitoring strategies is that all batches are synchronized in duration, both the new batch being monitored and those in the reference set. Such assumption is often not satisfied in chocolate manufacturing process. As a consequence, traditional techniques as MPCA-based charts are not suitable for process control and monitoring. To address that issue, the objective of this work is to compare the performance of three dynamic time warping (DTW) methods in the alignment and synchronization of chocolate conching process variables’ trajectories, aimed at properly determining the reference distribution for multivariate statistical process control. The power of classification of batches in two categories (conforming and non-conforming) was evaluated using the k-nearest neighbor (KNN) algorithm. Real data from a milk chocolate conching process was collected and the following variables were monitored over time: frequency of soybean lecithin dosage, rotation speed of the shovels, current of the main motor of the conche, and chocolate temperature. A set of 62 batches with durations between 495 and 1,170 minutes was considered; 53% of the batches were known to be conforming based on lab test results and experts’ evaluations. Results showed that all three DTW methods tested were able to align and synchronize the conching dataset. However, synchronized datasets obtained from these methods performed differently when inputted in the KNN classification algorithm. Kassidas, MacGregor and Taylor’s (named KMT) method was deemed the best DTW method for aligning and synchronizing a milk chocolate conching dataset, presenting 93.7% accuracy, 97.2% sensitivity and 90.3% specificity in batch classification, being considered the best option to determine the reference set for the milk chocolate dataset. Such method was recommended due to the lowest number of iterations required to achieve convergence and highest average accuracy in the testing portion using the KNN classification technique.

Keywords: batch process monitoring, chocolate conching, dynamic time warping, reference set distribution, variable duration

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Authors: Ali Ashraf, Ghazaleh Aghaee, Sedigheh Samimian, Mohaya Farzin

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Objectives: Previous studies have indicated the positive effect of physical activity and sports on different aspects of health, such as muscle endurance and sleep cycle. However, in university students, particularly medical students, who have limited time and a stressful lifestyle, there have been limited studies exploring this matter with proven statistical results. In this regard, this study aims to find out how regular physical activity can influence the academic performance of medical students during their internship period. Methods: This was a descriptive-analytical study. Overall, 160 medical students (including 80 women and 88 men) voluntarily participated in the study. The Baecke Physical Activity Questionnaire was applied to determine the student’s physical activity levels. The student's academic performance was determined based on their total average academic scores. The data were analyzed in SPSS version 16 software using the independent t-test, Pearson correlation, and linear regression. Results: The average age of the students was 26.0±1.5 years. Eighty-eight students (52.4%) were male, and 142 (84.5%) were single. The student's mean total average academic score was 16.2±1.2, and their average physical activity score was 8.3±1.1. The student's average academic score was not associated with their gender (P=0.427), marital status (P=0.645), and age (P=0.320). However, married students had a significantly lower physical activity level compared to single students (P=0.020). The results indicated a significant positive correlation between student's physical activity levels and average academic scores (r=+0.410 and P<0.001). This correlation was independent of the student’s age, gender, and marital status based on the regression analysis. Conclusion: The results of the current study suggested that the physical activity level in medical students was low to moderate in most cases, and there was a significant direct relationship between student’s physical activity level and academic performance, independent of age, gender, and marital status.

Keywords: exercise, education, physical activity, academic performance

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Authors: Rizalito B. Javier

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Research has shown that foreign students with higher levels of cultural awareness and intercultural communication competence tend to have better academic performance outcomes. This study aimed to find out the cultural awareness, intercultural communication competence, and academic performance of foreign students and its relationships among variables. Methods used were descriptive-comparative and correlational research design, quota purposive sampling technique while frequency counts and percentages, mean and standard deviation, T, and F-test and chi-square were utilized to analyze the data. The results revealed that the majority of the respondents were under the age bracket of 21-25 years old, mostly males, all single, and mostly citizens of Papua New Guinea, Angolan, Vanuatu, Tanzanian, Nigerian, Korean, Rwanda, and Myanmar. Most language spoken was English, many of them were born again Christians, the majority took BS business management degree program, their studies mainly supported by their parents, they had stayed in the Philippines for 3-4 years, and most of them attended five to six times of cultural awareness/competence workshop-seminars, majority of their parent’s occupations were family own business, and had been earning a family monthly income of P61,0000 and above. The respondents were highly aware of their culture in terms of clients’ issues. The intercultural communication competence of the respondents was slightly aware in terms of intercultural awareness, while the foreign students performed good remarks in their average academic performance. However, the profiles of the participants in terms of age, gender, civil status, nationality, course/degree program taken, support to the study, length of stay, workshop attended, and parents’ occupation have significant differences in the academic performance except for the type of family, language spoken, religion and family monthly income. Moreover, cultural awareness was significantly related to intercultural communication competence, and both were not related to academic performance. It is recommended that foreign students be provided with cultural orientation programs, offered language support services, promoted intercultural exchange activities, and implemented inclusive teaching practices to allow students to effectively navigate and interact with people from different cultural backgrounds, fostering a more inclusive and collaborative learning environment.

Keywords: cultural competence, communication competence, intercultural competence, and culture-academic performance.

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Authors: Nellija Titova

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Latvia, Lithuania, and Estonia, as Baltic Countries, have gone throughout transformational changes since 90s leading to the high level of economic development. As countries departing Soviet Union with industrialization policy moved to service economies, the issues of intangibles, human capital, structural capital, and innovation capital have gained impetus. Following the growing demand of practitioners and later academia, intellectual capital as a discipline, which appeared in 90s, became fundamental nowadays. Aim of the paper is to analyze the Baltic companies entering stock markets at Nasdaq Baltic from the perspective of Intellectual Capital. Methodology of the research is based on a longitudinal analysis of the companies using composite ratios of Intellectual Capital and Business performance in the period 2012-2019. Data for 2020 as COVID year) were excluded from the analysis. Findings allow concluding there is a pattern of influence and companies clearly experience the systemic impact of IC on business performance, identifying also time effect investing in intangibles.

Keywords: intellectual capital, impact analysis, longitudinal effect, composite ratios

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Authors: David de Oliveira Costa, Miguel Ângelo Lellis Moreira, Carlos Francisco Simões Gomes, Daniel Augusto de Moura Pereira, Marcos dos Santos

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Strategic management is a fundamental process for global companies that intend to remain competitive in an increasingly dynamic and complex market. To do so, it is necessary to maintain alignment with their principles and values. The Balanced Scorecard (BSC) proposes to ensure that the overall business performance is based on different perspectives (financial, customer, internal processes, and learning and growth). However, relying solely on the BSC may not be enough to ensure the success of strategic management. It is essential that companies also evaluate and prioritize strategic projects that need to be implemented to ensure they are aligned with the business vision and contribute to achieving established goals and objectives. In this context, the proposition involves the incorporation of the SAPEVO-M multicriteria method to indicate the degree of relevance between different perspectives. Thus, the strategic objectives linked to these perspectives have greater weight in the classification of structural projects. Additionally, it is proposed to apply the concept of the Impact & Probability Matrix (I&PM) to structure and ensure that strategic projects are evaluated according to their relevance and impact on the business. By structuring the business's strategic management in this way, alignment and prioritization of projects and actions related to strategic planning are ensured. This ensures that resources are directed towards the most relevant and impactful initiatives. Therefore, the objective of this article is to present the proposal for integrating the BSC methodology, the SAPEVO-M multicriteria method, and the prioritization matrix to establish a concrete weighting of strategic planning and obtain coherence in defining strategic projects aligned with the business vision. This ensures a robust decision-making support process.

Keywords: MCDA process, prioritization problematic, corporate strategy, multicriteria method

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Authors: Foroozan Sadri, Mohammadmehdi Moulaii, Farkhondeh Vahdati

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Smart materials can create a great revolution in our built environment, as living systems do. In this research, the optimal structure of healthcare building envelopes is analyzed in terms of thickness according to the utility of the smart-nano materials as nontoxic substances in the region. The research method in this paper is based on library studies and simulation. Grasshopper program is employed to simulate thermal characteristics to achieve the optimum U-value in Semnan desert climate, according to Iranian national standards. The potential of healthcare envelope layouts in thermal properties development (primarily U-value) of these buildings is discussed due to the high thermal loads of healthcare buildings and also toxicity effects of conventional materials. As a result, envelope thicknesses are calculated, and the performance of the nano-PCM and gypsum wallboards are compared. A solution with comparable performance using smart-nano materials instead of conventional materials would determine a decrease in wall thickness.

Keywords: energy saving, exterior envelope, smart-nano materials, thermal performance, U-value

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Authors: P. Cinthuja, J. A. O. A Jayakody, M. P. M. Perera, W. V. D. N. Weerarathna, S.E. Nirosha, D. K. D. C. Indeewari, T. Kaethieswaran, S. B. Adikari

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The aims of the study was to measure physical fitness parameters of school badminton players in the Kandy district and determine the factors contributing to improve the physical fitness. Height, weight, handgrip was measured and sit and reach test, shoulder flexibility test, standing long jump test, 20m sprint speed test, agility T-test and 20 m multistage shuttle run test were performed on 183 school badminton players. Linear regression and correlation tests were performed using body mass index, practiced duration, age category, level of performance, additional sports involvement as independent variables and physical fitness parameter as dependent variables. Results: The present study showed that the upper body power, upper body strength and endurance and speed depended on body mass index both in male and female school badminton players. Speed, agility, flexibility of shoulders, explosive power of shoulder and aerobic endurance depended on the duration of practiced. Furthermore, involvement in additional sports other than badminton did not enhance the performance of badminton players. But it decreased player’s performance by decreasing agility and speed. Age had an effect on the upper body power, explosive power of lower limb, agility and speed both in both males and females. Conclusions: The performance of badminton players could be enhanced by maintaining a proper body mass index. Badminton specific parameter could be improved by increasing the duration of practiced. Involvement in other sports does not give an added advantage to badminton players to improve their performance.

Keywords: agility, Body Mass Index, endurance, badminton

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Authors: Razan Salem

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This study aims to investigate the investment behavior of Arab women (in regards to their herding behavior, risk tolerance, confidence and investment literacy levels). This study aims to investigate the relationship between three demographic factors (age, income, education) and the investment behavior of Arab women. On average, women in the Arab region face several obstacles that limit them from fully participating in stocks investments. In the context, this study focuses on extending the existing literature to include Arab women individuals and their investment behaviors. To achieve the study’s objective, the researcher distributed 600 close-ended online questionnaires to a sample of Arab male and female individual investors in both Saudi Arabia and Jordan. The researcher used quantitative statistical methods (frequency distribution along with the Kruskal-Wallis H Test and the Mann-Whitney U Test) to analyze the 550 questionnaire respondents. The findings indicated that only age, educational level, and annual income level are associated with the investment behavior of Arab women, where age is only negatively associated with their financial risk tolerance levels. Additionally, income level is positively associated with Arab women‘s confidence and investment literacy levels, while educational level is only associated positively with their investment confidence levels. According to annual income, Arab women with lower incomes have lower confidence and investment literacy levels. The limited income level might prevent the sample Arab women from investing in the financial information and advisors that may help in improving their investment literacy levels. Furthermore, Arab women with lower educational levels have lower investment literacy levels and thus, this may limit their stock investments. Overall, the study contributes to the existing literature by focusing directly on examining the investment behavior of Arab women and its association with age, annual income, and education. Generally, there are scarce existing studies that investigate the association of demographic factors with the investment behavior of women only in regards to their herding behavior, risk tolerance, investment confidence, and investment literacy levels (combined), especially Arab women investors.

Keywords: Arab region, demographic factors, investment behavior, women investors

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Authors: S. Kaira, S. Mohamed, A. Rahman

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Traditionally, highway infrastructure projects are initiated based on their economic benefits, thereafter environmental, social and governance impacts are addressed discretely for the selected project from a set of pre-determined alternatives. When opting for cost-benefit analysis (CBA), multi-criteria decision-making (MCDM) has been used as the default assessment tool. But this tool has been critiqued as it does not mimic the real-world dynamic environment. Indeed, it is because of the fact that public sector projects like highways have to experience intense exposure to dynamic environments. Therefore, it is essential to appreciate the impacts of various dynamic factors (factors that change or progress with the system) on project performance. Thus, this paper presents various sustainability assessment tools that have been globally developed to determine sustainability performance of infrastructure projects during the design, procurement and commissioning phase. Indeed, identification of the current gaps in the available assessment methods provides a potential to add prominent part of knowledge in the field of ‘road project development systems and procedures’ that are generally used by road agencies.

Keywords: dynamic impact factors, micro and macro factors, sustainability assessment framework, sustainability performance

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Authors: Sasan Chalaki, Seyed Ali Mirgholange, Touba Nadri, Saman Chalaki

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In the current world, proper poultry nutrition has garnered special attention as one of the fundamental factors for enhancing their health and performance. Concerns related to the excessive use of antibiotics in the poultry industry and their role in antibiotic resistance have transformed this issue into a global challenge in public health and the environment. On the other hand, poultry farming plays a vital role as a primary source of meat and eggs in human nutrition, and improving their health and performance is crucial. One effective approach to enhance poultry nutrition is the utilization of the antibiotic properties of plant-based ingredients. The use of plant-based alternatives as natural antibiotics in poultry nutrition not only aids in improving poultry health and performance but also plays a significant role in reducing the consumption of synthetic antibiotics and preventing antibiotic resistance-related issues. Plants contain various antibacterial compounds, such as flavonoids, tannins, and essential oils. These compounds are recognized as active agents in combating bacteria. Plant-based antibiotics are compounds extracted from plants with antibacterial properties. They are acknowledged as effective substitutes for chemical antibiotics in poultry diets. The advantages of plant-based antibiotics include reducing the risk of resistance to chemical antibiotics, increasing poultry growth performance, and lowering the risk of disease transmission.

Keywords: poultry, antibiotics, essential oils, plant-based

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Authors: Peter Adly Hamdy Fahmy

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The aim of the study was to examine the effects of a physical education program on student learning by combining the teaching of personal and social responsibility (TPSR) with a physical education model and TPSR with a traditional teaching model, these learning outcomes involving self-learning. -Study. Athletic performance, enthusiasm for sport, group cohesion, sense of responsibility and game performance. The participants were 3 secondary school physical education teachers and 6 physical education classes, 133 participants with students from the experimental group with 75 students and the control group with 58 students, and each teacher taught the experimental group and the control group for 16 weeks. The research methods used surveys, interviews and focus group meetings. Research instruments included the Personal and Social Responsibility Questionnaire, Sports Enthusiasm Scale, Group Cohesion Scale, Sports Self-Efficacy Scale, and Game Performance Assessment Tool. Multivariate analyzes of covariance and repeated measures ANOVA were used to examine differences in student learning outcomes between combining the TPSR with a physical education model and the TPSR with a traditional teaching model. The research findings are as follows: 1) The TPSR sports education model can improve students' learning outcomes, including sports self-efficacy, game performance, sports enthusiasm, team cohesion, group awareness and responsibility. 2) A traditional teaching model with TPSR could improve student learning outcomes, including sports self-efficacy, responsibility, and game performance. 3) The sports education model with TPSR could improve learning outcomes more than the traditional teaching model with TPSR, including sports self-efficacy, sports enthusiasm, responsibility and game performance. 4) Based on qualitative data on teachers' and students' learning experience, the physical education model with TPSR significantly improves learning motivation, group interaction and sense of play. The results suggest that physical education with TPSR could further improve learning outcomes in the physical education program. On the other hand, the hybrid model curriculum projects TPSR - Physical Education and TPSR - Traditional Education are good curriculum projects for moral character education that can be used in school physics.

Keywords: approach competencies, physical, education, teachers employment, graduate, physical education and sport sciences, SWOT analysis character education, sport season, game performance, sport competence

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Authors: Yehjune Heo

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As biometric systems become widely deployed, the security of identification systems can be easily attacked by various spoof materials. This paper contributes to finding a reliable and practical anti-spoofing method using Convolutional Neural Networks (CNNs) based on the types of loss functions and optimizers. The types of CNNs used in this paper include AlexNet, VGGNet, and ResNet. By using various loss functions including Cross-Entropy, Center Loss, Cosine Proximity, and Hinge Loss, and various loss optimizers which include Adam, SGD, RMSProp, Adadelta, Adagrad, and Nadam, we obtained significant performance changes. We realize that choosing the correct loss function for each model is crucial since different loss functions lead to different errors on the same evaluation. By using a subset of the Livdet 2017 database, we validate our approach to compare the generalization power. It is important to note that we use a subset of LiveDet and the database is the same across all training and testing for each model. This way, we can compare the performance, in terms of generalization, for the unseen data across all different models. The best CNN (AlexNet) with the appropriate loss function and optimizers result in more than 3% of performance gain over the other CNN models with the default loss function and optimizer. In addition to the highest generalization performance, this paper also contains the models with high accuracy associated with parameters and mean average error rates to find the model that consumes the least memory and computation time for training and testing. Although AlexNet has less complexity over other CNN models, it is proven to be very efficient. For practical anti-spoofing systems, the deployed version should use a small amount of memory and should run very fast with high anti-spoofing performance. For our deployed version on smartphones, additional processing steps, such as quantization and pruning algorithms, have been applied in our final model.

Keywords: anti-spoofing, CNN, fingerprint recognition, loss function, optimizer

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Authors: Catherine Heyjung Sonu

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This paper examines the effect of accounting quality on the process in which stock price is determined by focusing on contribution-in-kind valuations using Korean setting. In Korea, a number of chaebol firms have transformed into holding company system starting in 2003. With an attempt to gain as much voting right, management sold shares of subsidiaries to purchase shares of the holding company. In so doing, management of these firms received share issues for the contribution in kind that has been made to obtain additional shares of the holding company. The price of these share issues against contribution in kind is allowed to be discounted up to 30%. Using this interesting setting in Korea, this paper examines whether accounting quality affects the extent of the discount applied to the share issues. If the accounting quality of the firm for which the management is receiving share issues is poor, the extent of discount is likely to be high. The extent of discount is likely lower for firms with superior accounting quality. Using 24 cases, we find that, on average, the extent of discount is larger for share issues in which the accounting quality, proxied by the absolute value of discretionary accruals, is poor. This paper provides insight by examining the effect of accounting quality on the stock market. It sheds light on the intersection between finance and accounting research and should be of interest to researchers and practitioners.

Keywords: Accounting quality, Contribution-in-kind, discount, holding company

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Authors: Yuan Jie Kelvin Lu, Amin Chegenizadeh

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Asphalt pavement itself is a mixture made up of mainly aggregates, binders, and fillers that acts as a composition used for pavement construction. An experimental program was setup to determine the fatigue performance test of Asphalt with three different grades of conventional binders. Asphalt specimen has achieved the maximum optimum bulk density and air voids with a consistent bulk density of 2.3 t/m3, with an air void of 5% ± 0.5, before loading into the Asphalt Mixture Performance Tested (AMPT) for fatigue test. The number of cycles is defined as the point where phase angle drops, which is caused by the formation of cracks due to the increasing micro cracks when asphalt is undergoing repeated cycles of loading. Thus, the data collected are analyzed using the drop of phase angle as failure criteria. Based in the data analyzed, it is evident that the fatigue life of asphalt lies on the grade of binder. The result obtained shows that all specimens do experience a drop in phase angle due to macro cracks in the asphalt specimen.

Keywords: asphalt binder, AMPT, CX test, simplified – viscoelastic continuum damage (S-VECD)

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Authors: A. Hassannia, S. Ramezani

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The technology of superconductivity has developed in many power system devices such as transmission cable, transformer, current limiter, motor and generator. Superconducting wires can carry high density current without loss, which is the capability that is used to design the compact, lightweight and more efficient electrical machines. Superconducting motors have found applications in marine and air propulsion systems as well as superconducting generators are considered in low power hydraulic and wind generators. This paper presents a rim-driven superconducting synchronous generator for hydraulic power plant. The rim-driven concept improves the performance of hydro turbine. Furthermore, high magnetic field that is produced by superconducting windings allows replacing the rotor core. As a consequent, the volume and weight of the machine is decreased significantly. In this paper, a 1 MW coreless rim-driven superconducting synchronous generator is designed. Main performance characteristics of the proposed machine are then evaluated using finite elements method and compared to an ordinary similar size synchronous generator.

Keywords: coreless machine, electrical machine design, hydraulic generator, rim-driven machine, superconducting generator

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Authors: Huang Bingling, Jia Yuhong, Liu Yanhui

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As an important part of aircraft, landing gears are responsible for taking-off and landing function. In recent years, big airplane's structural quality increases a lot. As a result, landing gears have stricter technical requirements than ever before such as structure strength and etc. If the structural strength of the landing gear is enhanced through traditional methods like increasing structural quality, the negative impacts on the landing gear's function would be very serious and even counteract the positive effects. Thus, in order to solve this problem, the impact of pre-rotating of landing gears on performance of landing gears is studied from the theoretical and experimental verification in this paper. By increasing the pre-rotating speed of the wheel, it can improve the performance of the landing gear and reduce the structural quality, the force of joint parts and other properties. In addition, the pre-rotating of the wheels also has other advantages, such as reduce the friction between wheels and ground and extend the life of the wheel. In this paper, the impact of the pre-rotating speed on landing gears and the connecting between landing gears performance and pre-rotating speed would be researched in detail. This paper is divided into three parts. In the first part, large airplane landing gear model is built by CATIA and LMS. As most general landing gear type in big plane, four-wheel landing gear is picked as model. The second part is to simulate the process of landing in LMS motion, and study the impact of pre-rotating of wheels on the aircraft`s properties, including the buffer stroke, efficiency, power; friction, displacement and relative speed between piston and sleeve; force and load distribution of tires. The simulation results show that the characteristics of the different pre-rotation speed are understood. The third part is conclusion. Through the data of the previous simulation and the relationship between the pre-rotation speed of the aircraft wheels and the performance of the aircraft, recommended speed interval is proposed. This paper is of great theoretical value to improve the performance of large airplane. It is a very effective method to improve the performance of aircraft by setting wheel pre-rotating speed. Do not need to increase the structural quality too much, eliminating the negative effects of traditional methods.

Keywords: large airplane, landing gear, pre-rotating, simulation

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Authors: P. Tsarouhas, Ch. Achillas, D. Aidonis, D. Folinas, V. Maslis, N. Moussiopoulos

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Agricultural production is a sector with high socioeconomic significance and key implications on employment and nutritional security. However, the impacts of agrifood production and consumption patterns on the environment are considerable, mainly due to the demand of large inputs of resources. This paper presents a case study of olive oil production in Greece, an important agri-product especially for countries in the Mediterranean basin. Life Cycle Analysis has been used to quantify the environmental performance of olive oil production. All key parameters that are associated with the life cycle of olive oil production are studied and environmental “hotspots” are diagnosed.

Keywords: LCA, olive oil production, environmental impact, case study, Greece

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Authors: Sinsze Koo, Benjin Luo, Matthew Henry

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In order to increase the performance of an automatic transmission, the automatic transmission fluid is required to be warm up to an optimal operating temperature. In a conventional vehicle, cold starts result in friction loss occurring in the gear box and engine. The stop and go nature of city driving dramatically affect the warm-up of engine oil and automatic transmission fluid and delay the time frame needed to reach an optimal operating temperature. This temperature phenomenon impacts both engine and transmission performance but also increases fuel consumption and CO2 emission. The aim of this study is to develop know-how of the thermal behavior in order to identify thermal impacts and functional principles in automatic transmissions. Thermal behavior was studied using models and simulations, developed using GT-Suit, on a one-dimensional thermal and flow transport. A power train of a conventional vehicle was modeled in order to emphasis the thermal phenomena occurring in the various components and how they impact the automatic transmission performance. The simulation demonstrates the thermal model of a transmission fluid cooling system and its component parts in warm-up after a cold start. The result of these analyses will support the future designs of transmission systems and components in an attempt to obtain better fuel efficiency and transmission performance. Therefore, these thermal analyses could possibly identify ways that improve existing thermal management techniques with prioritization on fuel efficiency.

Keywords: thermal management, automatic transmission, hybrid, and systematic approach

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Authors: Raed Abendeh, Mousa Bani Baker, Zaydoun Abu Salem, Hesham Ahmad

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The using of waste materials in the construction industry can reduce the dependence on the natural aggregates which are going at the end to deplete. The glass waste is generated in a huge amount which can make one of its disposal in concrete industry effective not only as a green solution but also as an advantage to enhance the performance of mechanical properties and durability of concrete. This article reports the performance of concrete specimens containing different percentages of milled glass waste as a partial replacement of cement (Powder), when they are subject to cycles of freezing and thawing. The tests were conducted on 75-mm cubes and 75 x 75 x 300-mm prisms. Compressive strength based on laboratory testing and non-destructive ultrasonic pulse velocity test were performed during the action of freezing-thawing cycles (F/T). The results revealed that the incorporation of glass waste in concrete mixtures is not only feasible but also showed generally better strength and durability performance than control concrete mixture. It may be said that the recycling of waste glass in concrete mixes is not only a disposal way, but also it can be an exploitation in concrete industry.

Keywords: durability, glass waste, freeze-thaw cycles, non-destructive test

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Authors: Olusola Bamisile, Ferdinard Dika, Mustafa Dagbasi, Serkan Abbasoglu

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The aim of this study was to model an air conditioning system that brings about effective cooling and reduce fossil fuel consumption with solar energy as an alternative source of energy. The objective of the study is to design a system with high COP, low usage of electricity and to integrate solar energy into AC systems. A hybrid solar assisted air conditioning system is designed to produce 30kW cooling capacity and R744 (CO₂) is used as a refrigerant. The effect of discharge pressure on the performance of the system is studied. The subcool temperature, evaporating temperature (5°C) and suction gas return temperature (12°C) are kept constant for the four different discharge pressures considered. The cooling gas temperature is set at 25°C, and the discharge pressure includes 80, 85, 90 and 95 bars. Copeland Scroll software is used for the simulation. A pressure-enthalpy graph is also used to deduce each enthalpy point while numerical methods were used in making other calculations. From the result of the study, it is observed that a higher COP is achieved with the use of solar assisted systems. As much as 46% of electricity requirements will be save using solar input at compressor stage.

Keywords: air conditioning, solar energy, performance, energy saving

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Authors: Muhammad Younas, Sidra Sawati, M. Razzaq Athar

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Organizational development history reveals that it has ever been a challenge to identify and fathom the role of talent management, career development and compensation management towards employees’ retention and organizational performance. Organizations strive hard to measure the impact of all those factors which affect employee retention and organizational performance. Researchers have worked in great deal in order to know the relationship of independent variables i.e. Talent Management, Career Development and Compensation Management on dependent variables i.e. Employee Retention and Organizational Performance. Employees adorned with latest skills with long lasting loyalty play a significant role towards successful achievement of short term as well as long term goals of the organizations. Retention of valuable and resourceful employees for a longer time is equally essential for meeting the set goals. The organizations which spend reasonable chunk of their resources for taking such measures that help to retain their employees through talent management and satisfactory career development always enjoy a competitive edge over their competitors. Human resource is regarded as one of the most precious and difficult resource to management. It has its own needs and requirement. It becomes an easy prey to monotony when lacks career development. Wants and aspirations of this resource are seldom met completely but can be managed through career development and compensation management. In this era of competition, organizations have to take viable steps to management their resources especially human resource. Top management and Managers keep on working for an amenable solution in order to address the challenges relating career development and compensation management as their ultimate goal is to ensure the organizational performance on optimum level. The current study was conducted to examine the impact of Talent Management, Career Development and Compensation Management towards Employees Retention and Organizational Performance with mediating effect of Employees Motivation in Service Sector of Pakistan. The current study is based on Resource Based View (RBV) and Ability Motivation Opportunity (AMO) theories. It explains that by increasing internal resources we can manage employee talent, career development through compensation management and employee motivation more effectively. It will result in effective execution of HRM practices for employee retention enabling an organization to achieve and sustain competitive advantage through optimal performance. Data collection was made through a structured questionnaire which was based upon adopted instruments after testing reliability and validity. A total 300 employees of 30 firms in service sector of Pakistan were sampled through non-probability sampling technique. Regression analysis revealed that talent management, career development and compensation management have significant positive impact on employee retention and perceived organizational performance. The results further showed that employee motivation have a significant mediating effect on employee retention and organizational performance. The interpretation of the findings and limitations, theoretical and managerial implications are also discussed.

Keywords: career development, compensation management, employee retention, organizational performance, talent management

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Authors: W. Staiano, S. Marcora

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Introduction: It has been proposed that acute negative effect of mental fatigue (MF) could potentially become a training stimulus for the brain (Brain endurance training (BET)) to adapt and improve its ability to attenuate MF states during sport competitions. Purpose: The aim of this study was to test the efficacy of 6 weeks of BET on cognitive and cycling tests in a group of well-trained subjects. We hypothesised that combination of BET and standard physical training (SPT) would increase cognitive capacity and cycling performance by reducing rating of perceived exertion (RPE) and increase resilience to fatigue more than SPT alone. Methods: In a randomized controlled trial design, 26 well trained participants, after a familiarization session, cycled to exhaustion (TTE) at 80% peak power output (PPO) and, after 90 min rest, at 65% PPO, before and after random allocation to a 6 week BET or active placebo control. Cognitive performance was measured using 30 min of STROOP coloured task performed before cycling performance. During the training, BET group performed a series of cognitive tasks for a total of 30 sessions (5 sessions per week) with duration increasing from 30 to 60 min per session. Placebo engaged in a breathing relaxation training. Both groups were monitored for physical training and were naïve to the purpose of the study. Physiological and perceptual parameters of heart rate, lactate (LA) and RPE were recorded during cycling performances, while subjective workload (NASA TLX scale) was measured during the training. Results: Group (BET vs. Placebo) x Test (Pre-test vs. Post-test) mixed model ANOVA’s revealed significant interaction for performance at 80% PPO (p = .038) or 65% PPO (p = .011). In both tests, groups improved their TTE performance; however, BET group improved significantly more compared to placebo. No significant differences were found for heart rate during the TTE cycling tests. LA did not change significantly at rest in both groups. However, at completion of 65% TTE, it was significantly higher (p = 0.043) in the placebo condition compared to BET. RPE measured at ISO-time in BET was significantly lower (80% PPO, p = 0.041; 65% PPO p= 0.021) compared to placebo. Cognitive results in the STROOP task showed that reaction time in both groups decreased at post-test. However, BET decreased significantly (p = 0.01) more compared to placebo despite no differences accuracy. During training sessions, participants in the BET showed, through NASA TLX questionnaires, constantly significantly higher (p < 0.01) mental demand rates compared to placebo. No significant differences were found for physical demand. Conclusion: The results of this study provide evidences that combining BET and SPT seems to be more effective than SPT alone in increasing cognitive and cycling performance in well trained endurance participants. The cognitive overload produced during the 6-week training of BET can induce a reduction in perception of effort at a specific power, and thus improving cycling performance. Moreover, it provides evidence that including neurocognitive interventions will benefit athletes by increasing their mental resilience, without affecting their physical training load and routine.

Keywords: cognitive training, perception of effort, endurance performance, neuro-performance

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Authors: Wenzhe Li, Xiaoyu Ying, Grace Ding

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Architecture plane form is an important consideration in the design of green buildings due to its significant impact on energy performance. The most effective method to consider energy performance in the early design stages is parametric modelling. This paper presents a methodology to program plane forms using MATLAB language, generating 16 kinds of plane forms by changing four designed parameters. DesignBuilder (an energy consumption simulation software) was proposed to simulate the energy consumption of the generated planes. A regression mathematical model was established to study the relationship between the plane forms and their energy consumption. The main finding of the study suggested that there was a cubic function relationship between the depth-ratio of U-shaped buildings and energy consumption, and there is also a cubic function relationship between the width-ratio and energy consumption. In the design, the depth-ratio of U-shaped buildings should not be less than 2.5, and the width-ratio should not be less than 2.

Keywords: graphic parameterization, green building design, mathematical model, plane form

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Authors: Peng Liu, Maria Justo Alonso, Hans Martin Mathisen

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A theoretical model is developed to evaluate the performance and energy saving potential of an air handling unit integrated with a membrane energy exchanger in cold climates. The recovered sensible and latent heat, fan preheating use for frost prevention and heating energy consumed by heating coil after the ventilator is compared for the air handling unit combined heat and energy exchanger respectively. A concept of coefficient of performance of air handling unit is presented and applied to assess the energy use of air handling unit (AHU) in cold climates. The analytic results indicate downsizing of the preheating coil before exchanger and heating coils after exchanger are expected since the required power to preheat and condition the air is reduced compared to heat exchanger when the MEE is integrated with AHU. Simultaneously, a superior ratio of energy recovered (RER) is obtained from AHU build-in a counter-flow MEE. The AHU with sensible-only heat exchanger has noticeably low RER, around 1 at low outdoor air temperature where the maximum energy rate is desired to condition the severe cold and dry air.

Keywords: membrane energy exchanger, cold climate, energy efficient building, HVAC

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Authors: Nathi Ram, Saurabh K. Yadav

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In turbomachinery, the turbulent flow occurs due to the use of high velocity of low kinematic viscosity lubricants and used in many industrial applications. In the present work, the performance of symmetric slot-entry hybrid worn journal bearing under laminar and turbulent lubrication has been investigated. For turbulent lubrication, the Reynolds equation has been modified using Constantinescu turbulent model. This modified equation has been solved using the finite element method. The effect of turbulent lubrication on bearing’s performance has been presented for symmetric hybrid journal bearing. The slot-entry hybrid worn journal bearing under turbulent/laminar regimes have been investigated. It has been observed that the stiffness and damping coefficients are more for the bearing having slot width ratio (SWR) of 0.25 than the bearing with SWR of 0.5 and 0.75 under the turbulent regime. Further, it is also observed that for constant wear depth parameter, stability threshold speed gets increased for bearing operates at slot width ratio 0.25 under turbulent lubrication.

Keywords: hydrostatic bearings, journal bearings, restrictors, turbulent flow models, finite element technique

Procedia PDF Downloads 164