Search results for: carbon markets

Authors: Thomas Chinwe Urama, Patrick Oseloka Ezepue, Peters Chimezie Nnanwa

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This paper investigates the universal financial dynamics in two dominant stock markets in Sub-Saharan Africa, through an in-depth analysis of the cross-correlation matrix of price returns in Nigerian Stock Market (NSM) and Johannesburg Stock Exchange (JSE), for the period 2009 to 2013. The strength of correlations between stocks is known to be higher in JSE than that of the NSM. Particularly important for modelling Nigerian derivatives in the future, the interactions of other stocks with the oil sector are weak, whereas the banking sector has strong positive interactions with the other sectors in the stock exchange. For the JSE, it is the oil sector and beverages that have greater sectorial correlations, instead of the banks which have the weaker correlation with other sectors in the stock exchange.

Keywords: random matrix theory, cross-correlations, emerging markets, option pricing, eigenvalues eigenvectors, inverse participation ratios and implied volatility

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Authors: Sarkar Humayun Kabir

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This paper aims to investigate whether ethical investment instruments could contribute to stability in financial markets. In order to address the main issue, the study investigates the stability of return in seven conventional and Islamic equity markets of Asia, Europe and North America and in five major commodity markets starting from 1996 to June 2012. In addition, the study examines the unconditional correlation between returns of the assets under review to investigate portfolio diversification benefits of investors. Applying relevant methods, the study finds that investors may enjoy sustainable returns from their portfolios by investing in ethical financial instruments such as Islamic equities. In addition, it should be noted that most of the commodities, gold in particular, are either low or negatively correlated with equity returns. These results suggest that investors would be better off by investing in portfolios combining Islamic equities and commodities in general. The sustainable returns of ethical investments has important implications for the investors and markets since these investments can provide stable returns while the investors can avoid production of goods and services which believes to be harmful for human and the society as a whole.

Keywords: financial sustainability, ethical investment instruments, islamic equity, dynamic conditional correlation, conditional volatility

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Authors: S. N. Turkmen Koc, A. S. Kipcak, M. B. Piskin, E. Moroydor Derun, N. Tugrul

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Active carbon can be obtained from agricultural sources. Due to the high surface area, the production of activated carbon from cheap resources is very important. Since the surface area of 1 g activated carbon is approximately between 300 and 2000 m², it can be used to remove both organic and inorganic impurities. In this study, the adsorption of Zn metal was studied with the product of activated carbon, which is obtained from pomegranate peel by microwave and chemical activation methods. The microwave process of pomegranate peel was carried out under constant microwave power of 800 W and 1 to 4 minutes. After the microwave process, samples were treated with H₂SO₄ for 3 h. Then prepared product was used in synthetic waste water including 40 ppm Zn metal. As a result, removal of waste Zn in waste water ranged from 91% to 93%.

Keywords: activated carbon, chemical activation, H₂SO₄, microwave, pomegranate peel

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Authors: Bita Bayatsarmadi, Shi-Zhang Qiao

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The development of ordered mesoporous carbon materials with controllable structures and improved physicochemical properties by doping heteroatoms such as nitrogen into the carbon framework has attracted a lot of attention, especially in relation to energy storage and conversion. Herein, a series of Nitrogen-doped mesoporous carbon spheres (NMC) was synthesized via a facile dual soft-templating procedure by tuning the nitrogen content and carbonization temperature. Various physical and (electro) chemical properties of the NMCs have been comprehensively investigated to pave the way for feasible design of nitrogen-containing porous carbon materials. The optimized sample showed a favorable electrocatalytic activity as evidenced by high kinetic current and positive onset potential for oxygen reduction reaction (ORR) due to its large surface area, high pore volume, good conductivity and high nitrogen content, which make it as a highly efficient ORR metal-free catalyst in alkaline solutions.

Keywords: porous carbon, N-doping, oxygen reduction reaction, soft-template

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Authors: Jingqi Li

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A new vertical carbon nanotube field effect transistor (CNTFET) has been developed. The source, drain and gate are vertically stacked in this structure. The carbon nanotubes are put on the side wall of the vertical stack. Unique transfer characteristics which depend on both silicon type and the sign of drain voltage have been observed in silicon integrated CNTFETs. The significant advantage of this CNTFET is that the short channel of the transistor can be fabricated without using complicate lithography technique.

Keywords: carbon nanotubes, field-effect transistors, electrical property, short channel fabrication

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Authors: Shota Nagata, Kazuya Okubo, Toru Fujii

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The purpose of this study is to investigate the proper condition in extracting carbon fibers as the reinforcement of composite molded by injection method. Recycled carbon fibers were extracted from wasted CFRP by pyrolyzing epoxy matrix of CFRP under air atmosphere at different temperature conditions 400, 600 and 800°C in this study. Recycled carbon fiber reinforced polypropylene (RCF/PP) pellets were prepared using twin screw extruder. The RCF/PP specimens were molded into dumbbell shaped specimens using injection molding machine. The tensile strength of recycled carbon fiber was decreased with rising pyrolysis temperature from 400 to 800°C. However, superior mechanical properties of tensile strength, tensile modulus and fracture strain of RCF/PP specimen were obtained when the extracting temperature was 600°C. Almost fibers in RCF/PP specimens were aligned in the mold filling direction in this study when the extracting temperature was 600°C. To discuss the results, the failure mechanisms of RCF/PP specimens was shown schematically. Finally, it was concluded that the temperature condition at 600°C should be selected in extracting carbon fibers as the reinforcement of RCF/PP composite molded by injection method.

Keywords: CFRP, recycled carbon fiber, injection molding, mechanical properties, fiber orientation, failure mechanism

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Authors: O. Eren, N. Ucar, A. Onen, N. Kızıldag, O. F. Vurur, N. Demirsoy, I. Karacan

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PAN nanofibers reinforced with amine functionalized carbon nanotubes. The effect of amine functionalization and the effect of concentration of CNT on the conductivity and mechanical and morphological properties of composite nanofibers were examined. 1%CNT-NH2 loaded PAN/CNT nanofiber showed the best mechanical properties. Conductivity increased with the incorporation of carbon nanotubes. While an increase of the concentration of CNT increases the diameter of nanofiber, the use of functionalized CNT results to a decrease of diameter of nanofiber.

Keywords: amine functionalized carbon nanotube, electrospinning, nanofiber, polyacrylonitrile

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Authors: Mohammed Yagoub

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The new orientation to the market economy sponsored by the Algeria government in the early Nineties of the last century, and its desire to develop investment mechanisms and the promotion of development recently, the access into a partnership with the European Union, and the forthcoming accession to the World Trade Organization, foreign direct investment makes one of the most important means of opening up to foreign markets and bring technology and interact with globalization, this article we will discuss the impact of FDI on economic growth in the Algerian.

Keywords: economic, development, markets, FDI, displacement, globalization

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Authors: Seyed Mohamad Rasool Mirkarimi, David Chiaramonti, Samir Bensaid

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Catalytic methane decomposition (CMD, reaction 4) is a one-step process for hydrogen production where carbon in the methane molecule is sequestered in the form of stable and higher-value carbon materials. Metallic catalysts and carbon-based catalysts are two major types of catalysts utilized for the CDM process. Although carbon-based catalysts have lower activity compared to metallic ones, they are less expensive and offer high thermal stability and strong resistance to chemical impurities such as sulfur. Also, it would require less costly separation methods as some of the carbon-based catalysts may not have an active metal component in them. Since the regeneration of metallic catalysts requires burning of the C on their surfaces, which emits CO/CO2, in some cases, using carbon-based catalysts would be recommended because regeneration can be completely avoided, and the catalyst can be directly used in other processes. This work focuses on the effect of biochar as a carbon-based catalyst for the conversion of methane into hydrogen and carbon. Biochar produced from the pyrolysis of poplar wood and activated biochar are used as catalysts for this process. In order to observe the impact of carbon-based catalysts on methane conversion, methane cracking in the absence and presence of catalysts for a gas stream with different levels of methane concentration should be performed. The results of these experiments prove conversion of methane in the absence of catalysts at 900 °C is negligible, whereas in the presence of biochar and activated biochar, significant growth has been observed. Comparing the results of the tests related to using char and activated char shows the enhancement obtained in BET surface area of the catalyst through activation leads to more than 10 vol.% methane conversion.

Keywords: hydrogen production, catalytic methane decomposition, biochar, activated biochar, carbon-based catalyts

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Authors: Brian Yuliarto, Ni Luh Wulan Septiani

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Carbon nanotubes are one of the carbon nanomaterial that very popular in the field of gas sensors. It has unique properties, large surface area and has hollow structure that makes its potentially used as a gas sensor. Several attempts have been made to improve the sensitivity and selectivity of CNTs by modifying CNTs with a noble metals, metal oxides and polymers. From these studies, there are evidents that modification of CNTs with these materials can improve the sensitivity and selectivity of CNTs against some harmful gases. Decorating carbon nano tubes with metal oxides improve CNTs with the highest sensitivity and increased sensitivity of polymer/CNTs is higher than the metal/CNTs. The used of metal in CNTs aims to accelerate the reaction surface and as channel for electrons path from or to the CNTs. The used of metal oxides on CNTs built a p-n junction that can increase sensitivity. While the addition of polymer can increase the charge carriers density in CNTs.

Keywords: carbon nanotubes, gas sensors, modification of CNT, sensitivity

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Authors: Rupan Das Chakraborty, Surendra K. Martha

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Hard carbons (HCs) are extensively used as anode materials for sodium-ion batteries due to their availability, low cost, and ease of synthesis. It possesses the ability to store Na ion between stacked sp2 carbon layers and micropores. In this work, hard carbons are synthesized from different concentrations (0.5M to 5M) of dextrose solutions by hydrothermal synthesis followed by high-temperature calcination at 1100 ⁰C in an inert atmosphere. Dextrose has been chosen as a precursor material as it is a eco-friendly and renewable source. Among all hard carbon derived from different concentrations of dextrose solutions, hard carbon derived from 3M dextrose solution delivers superior electrochemical performance compared to other hard carbons. Hard carbon derived from 3M dextrose solution (Dextrose derived Hard Carbon-3M) provides an initial reversible capacity of 257 mAh g-1 with a capacity retention of 83 % at the end of 100 cycles at 30 mA g-1). The carbons obtained from different dextrose concentration show very similar Cyclic Voltammetry and chargedischarging behavior at a scan rate of 0.05 mV s-1 the Cyclic Voltammetry curve indicate that solvent reduction and the solid electrolyte interface (SEI) formation start at E < 1.2 V (vs Na/Na+). Among all 3M dextrose derived electrode indicate as a promising anode material for Sodium-ion batteries (SIBs).

Keywords: dextrose derived hard carbon, anode, sodium-ion battery, electrochemical performance

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Authors: Mădălina Elena Mavrodin, Gabriela Andreea Despescu, Gheorghe Lăzăroiu

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Long term trend of global warming has brought a very deep interest in climate change, which is due most likely to increasing concentrations of anthropogenic greenhouse gases. 0f these, particular attention is paid to carbon dioxide, which has led in desire for obtaining carbon footprint products. Automotive industry is one of the world’s most important economic sectors with a great impact over the environment through all range of activities. Its impact over the environment has been studied, researcher trying as much as possible to reduce it and to offer environmental friendly solution for the using, but also manufacturing cars. In the global endeavour to meet the international commitments in order to reduce the greenhouse gas emissions, many companies integrate environmental issues into their management systems, with potential effects in their entire production chains. Several tools and calculators have been developed to measure the environmental impact of a product in the life cycle perspective of the whole product chain. There were a lot of ways to obtain the carbon footprint of driving a car, but the total carbon footprint of a car includes also the carbon footprint of all the components and accessories. In the automotive industry, one of the challenges is to calculate the carbon footprint of a car from ‘cradle to grave’; this meaning not only for driving the car, but also manufacturing it, so there can be an overview over the entire process of production.

Keywords: carbon footprint, global warming potential, greenhouse gases, manufacture, plastic air ducts

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Authors: M. Mujahid, Omar A. Al-Hartomy

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Ag-doped ZnO2 loaded on the Pt-carbon spheres have been synthesized and characterized by standard analytical techniques. i.e., UV-Vis spectroscopy, X-Ray Diffraction (XRD) and Scanning Electron Microscopy (SEM). In order to find the effect of loading of Ag doping on ZnO2, the concentration of Ag was varied from 0-3.5%. The XRD analysis showed that the obtained particles are anatase phase. The SEM images showed Ag-doped ZnO2 are loaded on the surface of the Pt-carbon spheres. The photocatalytic activity of the synthesized particles was tested by studying the degradation of methyl orange dye and 4-chlorophenol as a function of time on irradiation in aqueous suspension. Ag-doped ZnO2@Pt-carbon sphere particle with platinum concentration of 3.0 % showed the highest photocatalytic activity as compared to the other Ag concentrations for the degradation of methyl orange and 4-chlorophenol.

Keywords: Ag-ZnO2, Pt-carbon spheres, degradation, methyl orange, 4-chlorophenol

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Authors: Fuqiang Wang, Jun Liu, Liyan Cai

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This paper investigates the coordination of the conflicting two-stage low carbon supply chain consisting of upstream and downstream manufacturers. The conflict means that the upstream manufacturer takes action for carbon emissions reduction under carbon trading mechanism while the downstream manufacturer’s production cost rises. It assumes for the Stackelberg game that the upstream manufacturer plays as a leader and the downstream manufacturer does as a follower. Four kinds of the situation of decentralized decision making, centralized decision-making, the production cost sharing contract and the carbon emissions reduction revenue sharing contract under decentralized decision making are considered. The backward induction approach is adopted to solve the game. The results show that the more intense the conflict is, the lower the efficiency of carbon emissions reduction and the higher the retail price is. The optimal investment of the decentralized supply chain under the two contracts is unchanged and still lower than that of the centralized supply chain. Both the production cost sharing contract and the carbon emissions reduction revenue sharing contract cannot coordinate the supply chain, because that the sharing cost or carbon emissions reduction sharing revenue will transfer through the wholesale price mechanism. As a result, it requires more complicated contract forms to coordinate such a supply chain.

Keywords: cap-and-trade mechanism, carbon emissions reduction, conflict, supply chain coordination

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Authors: Li Chin Law, Epaminondas Mastorakos, Mohd Roslee Othman, Antonis Trakakis

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The paper introduces an alternative concept of carbon capture for shipping by using pre-combustion carbon capture technology (Pre-CCS), which was proven to be less energy intensive than post-combustion carbon capture from the engine exhaust. Energy assessment on amine-based post-combustion CCS on LNG-fuelled ships showed that the energy efficiency of CCS ships reduced from 48% to 36.6%. Then, an energy assessment was carried out to compare the power and heat requirements of the most used hydrogen production methods and carbon capture technologies. Steam methane reformer (SMR) was found to be 20% more energy efficient and achieved a higher methane conversion than auto thermal reaction and methane decomposition. Next, pressure swing adsorber (PSA) has shown a lower energy requirement than membrane separation, cryogenic separation, and amine absorption in pre-combustion carbon capture. Hence, an integrated system combining SMR and PSA (SMR-PSA) with waste heat integration (WHR) was proposed. This optimized SMR-based integrated system has achieved 65% of CO₂ reduction with less than 7-percentage point of energy penalty (41.7% of energy efficiency). Further integration of post-combustion CCS with the SMR-PSA integrated system improved carbon capture rate to 86.3% with 9-percentage points of energy penalty (39% energy efficiency). The proposed system was shown to be able to meet the carbon reduction targets set by International Maritime Organization (IMO) with certain energy penalties.

Keywords: shipping, decarbonisation, alternative fuels, low carbon, hydrogen, carbon capture

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Authors: C. D. Gomez-Esparza, Z. V. Hernandez-Castro, C. A. Rodriguez-Gonzalez, R. Martinez-Sanchez, A. Duarte-Moller

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Recently, the high entropy alloys (HEA) are the focus of attention in metallurgical and materials science due to their desirable and superior properties in comparison to conventional alloys. The HEA field has promoted the exploration of several compositions including the addition of non-metallic elements like carbon, which in traditional metallurgy is mainly used in the steel industry. The aim of this work was the synthesis of equiatomic FeCrNiMnTi high entropy alloys, with minor carbon content, by mechanical alloying and sintering. The effect of the addition of carbon nanotubes and graphite were evaluated by X-ray diffraction, scanning electron microscopy, and microhardness test. The structural and microstructural characteristics of the equiatomic alloys, as well as their hardness were compared with those of an austenitic AISI 321 stainless steel processed under the same conditions. The results showed that porosity in bulk samples decreases with carbon nanotubes addition, while the equiatomic composition favors the formation of titanium carbide and increased the AISI 321 hardness more than three times.

Keywords: carbon nanotubes, graphite, high entropy alloys, mechanical alloying

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Authors: M. A. Moussa, M. H. Abdel Rehim, G.M. Turky

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Polyaniline composites with carbon nitride, to overcome compatibility restriction with graphene, were prepared with the solution method. FTIR and Uv-vis spectra were used for structural conformation. While XRD and XPS confirmed the structures in addition to estimation of nitrogen atom surroundings, the pore sizes and the active surface area were determined from BET adsorption isotherm. The electrical and dielectric parameters were measured and calculated with BDS .

Keywords: carbon nitride, dynamic relaxation, electrical conductivity, polyaniline

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Authors: Olukunle C. Olawole, Dilip Kumar De

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We have modified Richardson-Dushman equation considering thermal expansion of lattice and change of chemical potential with temperature in material. The corresponding modified Richardson-Dushman (MRDE) equation fits quite well the experimental data of thermoelectronic current density (J) vs T from carbon nanotubes. It provides a unique technique for accurate determination of W0 Fermi energy, EF0 at 0 K and linear thermal expansion coefficient of carbon nano-tube in good agreement with experiment. From the value of EF0 we obtain the charge carrier density in excellent agreement with experiment. We describe application of the equations for the evaluation of performance of concentrated solar thermionic energy converter (STEC) with emitter made of carbon nanotube for future applications.

Keywords: carbon nanotube, modified Richardson-Dushman equation, fermi energy at 0 K, charge carrier density

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Authors: Chester Joshua V. Saldana, Yolanda A. Ilagan

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This study determines the prevalence of Salmonella from retail dressed chickens using chicken wings as samples in five wet city markets of Cavite, Philippines, compares the prevalence among the markets' samples and determines the serotypes and antibiotic resistance pattern of Salmonella isolates. The overall prevalence of Salmonella in five wet markets in Cavite was 13.33 percent. Samples from Bacoor yielded the highest prevalence rate of 26.6 percent, followed by Imus (23.3%), Dasmarinas (11.6%), Trece Martires (3.3%) and Tagaytay (1.6%). Seven serotypes (serogroups B, C2, C3, D1 and E1) were isolated which include Salmonella weltevreden, S. derby, S. newport, S. albany, S. typhimurium, and S. enteritidis. Salmonella weltevreden was the predominant serotype while S. typhi and S. albany were the least common. Among the 15 antibiotics tested, resistance to ampicillin, tetracycline, and cephalexin was exhibited by all the isolates while 5 percent showed resistance to gentamicin, 2.5 percent to streptomycin and 12.5 percent to nitrofurantoin. One isolate was resistant to four antibiotics whereas most isolates of S. enteritidis were resistant to 2 to 5 antibiotics. Four resistance patterns were recorded. This study revealed the emergence of multidrug-resistant Salmonella serotypes from chicken meat in Cavite, Philippines.

Keywords: antibiotics, dressed chickens, resistance patterns, Salmonella serovars

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Authors: Tetsuji Tanaka, Jin Guo

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The extant literature has not succeeded in uncovering the common determinants of price volatility transmissions of agricultural commodities from international to local markets, and further, has rarely investigated the role of self-sufficiency measures in the context of national food security. We analyzed various factors to determine the degree of price volatility transmissions of wheat, rice, and maize between world and domestic markets using GARCH models with dynamic conditional correlation (DCC) specifications and panel-feasible generalized least square models. We found that the grain autarky system has the potential to diminish volatility pass-throughs for three grain commodities. Furthermore, it was discovered that the substitutive commodity consumption behavior between maize and wheat buffers the volatility transmissions of both, but rice does not function as a transmission-relieving element, either for the volatilities of wheat or maize. The effectiveness of grain consumption substitution to insulate the pass-throughs from global markets is greater than that of cereal self-sufficiency. These implications are extremely beneficial for developing governments to protect their domestic food markets from uncertainty in foreign countries and as such, improves food security.

Keywords: food security, GARCH, grain self-sufficiency, volatility transmission

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Authors: Hakimeh Sharififard, Mansooreh Soleimani

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In this work, the magnetic activated carbon nanocomposite (Fe-CAC) has been synthesized by anchorage iron hydr(oxide) nanoparticles onto commercial activated carbon (CAC) surface and characterized using BET, XRF, SEM techniques. The influence of various removal parameters such as pH, contact time and initial concentration of vanadium on vanadium removal was evaluated using CAC and Fe-CAC in batch method. The sorption isotherms were studied using Langmuir, Freundlich and Dubinin–Radushkevich (D–R) isotherm models. These equilibrium data were well described by the Freundlich model. Results showed that CAC had the vanadium adsorption capacity of 37.87 mg/g, while the Fe-AC was able to adsorb 119.01 mg/g of vanadium. Kinetic data was found to confirm pseudo-second-order kinetic model for both adsorbents.

Keywords: magnetic activated carbon, remove, vanadium, nanocomposite, freundlich

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Authors: U. K. Ghosh, A. Ullhyan

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Activated carbon prepared from mustard stalk was applied to decolorize Rhodamine-B dye bearing synthetic wastewater by simple adsorption and simultaneous adsorption and biodegradation (SAB) using Pseudomonas putida MTCC 1194. Results showed that percentage of Rhodamine-B dye removal was 82% for adsorption and 99.3% for SAB at pH 6.5, adsorbent dose 10 g/L and temperature 32ºC.

Keywords: activated carbon, mustard stalk, Rhodamine-B, adsorption, SAB, Pseudomonas putida

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Authors: Meseret Habtamu, Mekuria Argaw

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Urban forests can help to improve the microclimate and air quality. Urban forests in Addis Ababa are important sinks for GHGs as the number of vehicles and the traffic constrain is steadily increasing. The objective of this study was to characterize the vegetation types in selected public parks and to estimate the carbon stock potential of urban forests by assessing carbon in the above, below ground biomass, in the litter and soil. Species which vegetation samples were taken using a systematic transect sampling within value DBH ≥ 5cm were recorded to measure the above, the below ground biomass and the amount of C stored. Allometric models (Y= 34.4703 - 8.0671(DBH) + 0.6589(DBH2) were used to calculate the above ground and Below ground biomass (BGB) = AGB × 0.2 and sampling of soil and litter was based on quadrates. There were 5038 trees recorded from the selected study sites with DBH ≥ 5cm. Most of the Parks had large number of indigenous species, but the numbers of exotic trees are much larger than the indigenous trees. The mean above ground and below ground biomass is 305.7 ± 168.3 and 61.1± 33.7 respectively and the mean carbon in the above ground and below ground biomass is 143.3±74.2 and 28.1 ± 14.4 respectively. The mean CO2 in the above ground and below ground biomass is 525.9 ± 272.2 and 103.1 ± 52.9 respectively. The mean carbon in dead litter and soil carbon were 10.5 ± 2.4 and 69.2t ha-1 respectively. Urban trees reduce atmospheric carbon dioxide (CO2) through sequestration which is important for climate change mitigation, they are also important for recreational, medicinal value and aesthetic and biodiversity conservation.

Keywords: biodiversity, carbon sequestration, climate change, urban forests

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Authors: Syed Jawad Hussain Shahzad, Muhammad Zakaria, Mobeen Ur Rehman, Saniya Khaild

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This study examines the co-movement between the Pakistan, Indian, S&P 500 and Nikkei 225 stock markets using weekly data from 1998 to 2013. The time-frequency relationship between the selected stock markets is conducted by using measures of continuous wavelet power spectrum, cross-wavelet transform and cross (squared) wavelet coherency. The empirical evidence suggests strong dependence between Pakistan and Indian stock markets. The co-movement of Pakistani index with U.S and Japanese, the developed markets, varies over time and frequency where the long-run relationship is dominant. The results of cross wavelet and wavelet coherence analysis indicate moderate covariance and correlation between stock indexes and the markets are in phase (i.e. cyclical in nature) over varying durations. Pakistan stock market was lagging during the entire period in relation to Indian stock market, corresponding to the 8~32 and then 64~256 weeks scale. Similar findings are evident for S&P 500 and Nikkei 225 indexes, however, the relationship occurs during the later period of study. All three wavelet indicators suggest strong evidence of higher co-movement during 2008-09 global financial crises. The empirical analysis reveals a strong evidence that the portfolio diversification benefits vary across frequencies and time. This analysis is unique and have several practical implications for regional and international investors while assigning the optimal weightage of different assets in portfolio formulation.

Keywords: co-movement, Pakistan stock exchange, S&P 500, Nikkei 225, wavelet analysis

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Authors: Andrea Alfaro Barajas, Arturo I. Martinez

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3D photothermal structure of carbon was synthesized using PET bottles waste and sodium chloride through controlled carbonization. Characterization techniques such as X-ray photoelectron spectroscopy, X-ray diffraction, BET, scanning electron microscopy (SEM), transmission electron microscopy (TEM), Raman spectroscopy, spectrophotometry, and mechanical compression were carried out. The carbon showed physical integrity > 90%, an absorbance > 90% between 300-1000nm of the solar spectrum, and a high specific surface area from 450 to 620 m2/g. The X-ray was employed to examine the phase structure; the obtained pattern shows an amorphous material. A higher intensity of band D with respect to band G was confirmed by Raman Spectroscopy. C-OH, COOH, C-O, and C-C bonds were obtained from the deconvolution of the high-resolution C1s orbital. Macropores of 160 to 180µm and micropores of 0.5 to 2nm were observed by SEM and TEM images, respectively. Such combined characteristics of carbon confer efficient evaporation of water under 1 sun irradiation > 60%.

Keywords: solar-absorber, carbon, water-evaporation, interfacial

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Authors: Parul Johri, Mala Trivedi

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Major Intrinsic proteins (MIPs), actively involved in the passive transport of small polar molecules across the membranes of almost all living organisms. MIPs that specifically transport water molecules are named aquaporins (AQPs). The permeability of membranes is actively controlled by the regulation of the amount of different MIPs present but also in some cases by phosphorylation and dephosphorylation of the channel. Based on sequence similarity, MIPs have been classified into many categories. All of the proteins are made up of the 20 amino acids, the only difference is there in their orientations. Again all the 20 amino acids are made up of the basic five elements namely: carbon, hydrogen, oxygen, sulphur and nitrogen. These elements are responsible for giving the amino acids the properties of hydrophilicity/hydrophobicity which play an important role in protein interactions. The hydrophobic amino acids characteristically have greater number of carbon atoms as carbon is the main element which contributes to hydrophobic interactions in proteins. It is observed that the carbon level of proteins in different species is different. In the present work, we have taken a sample set of 150 aquaporins proteins from Uniprot database and a dynamic programming code was written to calculate the carbon percentage for each sequence. This carbon percentage was further used to barcode the aqauporins of animals and plants. The protein taken from Oryza sativa, Zea mays and Arabidopsis thaliana preferred to have carbon percentage of 31.8 to 35, whereas on the other hand sequences taken from Mus musculus, Saccharomyces cerevisiae, Homo sapiens, Bos Taurus, and Rattus norvegicus preferred to have carbon percentage of 31 to 33.7. This clearly demarks the carbon range in the aquaporin proteins from plant and animal origin. Hence the atom level analysis of protein sequences can provide us with better results as compared to the residue level comparison.

Keywords: aquaporins, carbon, dynamic prgramming, MIPs

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Authors: Vanessa Romanovicz, Beatriz A. Berns, Stephen D. Carpenter, Deyse Carpenter

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This article deals with the carbon nanotubes (CNT) synthesized from a novel precursor, sugar cane and Anodic Aluminum Oxide (AAO). The objective was to produce CNTs to be used as catalyst supports for Proton Exchange Membranes. The influence of temperature, inert gas flow rate and concentration of the precursor is presented. The CNTs prepared were characterized using TEM, XRD, Raman Spectroscopy, and the surface area determined by BET. The results show that it is possible to form CNT from sugar cane by pyrolysis and the CNTs are the type multi-walled carbon nanotubes. The MWCNTs are short and closed at the two ends with very small surface area of SBET = 3.691m,/g.

Keywords: carbon nanotubes, sugar cane, fuel cell, catalyst support

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Authors: Anna M. Pretorius

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The emerging markets category for portfolio investment was introduced in 1986 in an attempt to promote capital market development in less developed countries. Investors traditionally diversified their portfolios by investing in different developed markets. However, high growth opportunities forced investors to consider emerging markets as well. Examples include the rapid growth of the “Asian Tigers” during the 1980s, growth in Latin America during the 1990s and the increased interest in emerging markets during the global financial crisis. As such, portfolio flows to emerging markets have increased substantially. In 2002 7% of all equity allocations from advanced economies went to emerging markets; this increased to 20% in 2012. The stronger links between advanced and emerging markets led to increased synchronization of asset price movements. This increased level of stock market integration for emerging markets is confirmed by various empirical studies. Against the background of increased interest in emerging market assets and the increasing level of integration of emerging markets, this paper focuses on the determinants of stock market integration of emerging market countries. Various studies have linked the level of financial market integration with specific economic variables. These variables include: economic growth, local inflation, trade openness, local investment, budget surplus/ deficit, market capitalization, domestic bank credit, domestic institutional and legal environment and world interest rates. The aim of this study is to empirically investigate to what extent trade-related determinants have an impact on stock market integration. The panel data sample include data of 16 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Malaysia, Pakistan, Peru, Philippines, Poland, Russian Federation, South Africa, Thailand and Turkey for the period 1998-2011. The integration variable for each emerging stock market is calculated as the explanatory power of a multi-factor model. These factors are extracted from a large panel of global stock market returns. Trade related explanatory variables include: exports as percentage of GDP, imports as percentage of GDP and total trade as percentage of GDP. Other macroeconomic indicators – such as market capitalisation, the size of the budget deficit and the effectiveness of the regulation of the securities exchange – are included in the regressions as control variables. An initial analysis on a sample of developed stock markets could not identify any significant determinants of stock market integration. Thus the macroeconomic variables identified in the literature are much more significant in explaining stock market integration of emerging markets than stock market integration of developed markets. The three trade variables are all statistically significant at a 5% level. The market capitalisation variable is also significant while the regulation variable is only marginally significant. The global financial crisis has highlighted the urgency to better understand the link between the financial and real sectors of the economy. This paper comes to the important finding that, apart from the level of market capitalisation (as financial indicator), trade (representative of the real economy) is a significant determinant of stock market integration of countries not yet classified as developed economies.

Keywords: emerging markets, financial market integration, panel data, trade

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Authors: Yih-Wenn Laih

Abstract:

In recent times, the dependence and co-movement among international financial markets have become stronger than in the past, as evidenced by commentaries in the news media and the financial sections of newspapers. Studying the co-movement between returns in financial markets is an important issue for portfolio management and risk management. The realization of co-movement helps investors to identify the opportunities for international portfolio management in terms of asset allocation and pricing. Since the election of the new Prime Minister, Shinzo Abe, in November 2012, the yen has weakened against the US dollar from the 80 to the 120 level. The policies, known as “Abenomics,” are to encourage private investment through a more aggressive mix of monetary and fiscal policy. Given the close economic relations and competitions among Asia markets, it is interesting to discover the co-movement relations, affected by the depreciation of yen, between stock market of Japan and 5 major Asia stock markets, including China, Hong Kong, Korea, Singapore, and Taiwan. Specifically, we devote ourselves to measure the co-movement of stock markets between Japan and each one of the 5 Asia stock markets in terms of rank correlation coefficients. To compute the coefficients, return series of each stock market is first fitted by a skewed-t GARCH (generalized autoregressive conditional heteroscedasticity) model. Secondly, to measure the dependence structure between matched stock markets, we employ the symmetrized Joe-Clayton (SJC) copula to calculate the probability density function of paired skewed-t distributions. The joint probability density function is then utilized as the scoring scheme to optimize the sequence alignment by dynamic programming method. Finally, we compute the rank correlation coefficients (Kendall's  and Spearman's ) between matched stock markets based on their aligned sequences. We collect empirical data of 6 stock indexes from Taiwan Economic Journal. The data is sampled at a daily frequency covering the period from January 1, 2013 to July 31, 2015. The empirical distributions of returns indicate fatter tails than the normal distribution. Therefore, the skewed-t distribution and SJC copula are appropriate for characterizing the data. According to the computed Kendall’s τ, Korea has the strongest co-movement relation with Japan, followed by Taiwan, China, and Singapore; the weakest is Hong Kong. On the other hand, the Spearman’s ρ reveals that the strength of co-movement between markets with Japan in decreasing order are Korea, China, Taiwan, Singapore, and Hong Kong. We explore the effects of “Abenomics” on Asia stock markets by measuring the co-movement relation between Japan and five major Asia stock markets in terms of rank correlation coefficients. The matched markets are aligned by a hybrid method consisting of GARCH, copula and sequence alignment. Empirical experiments indicate that Korea has the strongest co-movement relation with Japan. The strength of China and Taiwan are better than Singapore. The Hong Kong market has the weakest co-movement relation with Japan.

Keywords: co-movement, depreciation of Yen, rank correlation, stock market

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Authors: Getenet Aseged Zeleke

Abstract:

The aim of this project was to study the synthesis of activated carbon from low-cost animal beef and the characterization of the product obtained. The bone was carbonized in an inert atmosphere at three different temperatures (500°C, 700oC and 900°C) in an electric furnace, followed by activation with hydrochloric acid. The activated animal bone charcoals obtained were characterized by using scanning electron microscopy (SEM)to observe the effect of activation compared to the unactivated bone charcoal. The following parameters were also determined: ash content, moisture content, volatile content, fixed carbon, pH, pore volume and bulk (apparent) density. The characterization result showed that the activated bone charcoal has good properties and is compared favorably with other reference activated carbons.

Keywords: bones, carbonization, activation, characterization, activated carbon

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