Search results for: carbon trading volume

Authors: Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum, Imron Mawardi, Achsania Hendratmi

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Murabaha is the most popular contract by the Islamic banks in Indonesia, since there is opinion stating that the risk level of mudharaba and musyaraka are higher and the return is uncertain. This research aims to analyze the difference of return, risk, and variation coefficient between profit sharing-based and trading-based financing in Islamic bank. This research uses quantitative approach using Wilcoxon signed rank test with data sampled from 13 Indonesian Islamic banks, collected from their quarterly financial reports from 2011 to 2015. The result shows the significant difference in return, while risk and variation coefficient are almost same. From the analysis, it can be concluded that profit sharing-based financing is less desirable not because of its risk. Trading-based financing is more desirable than the profit sharing because of its return.

Keywords: financing, Islamic bank, return, risk

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Authors: Sumit Sharma, Rakesh Chandra, Pramod Kumar, Navin Kumar

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Molecular dynamics (MD) simulation has been used to study the effect of carbon nanofiber (CNF) volume fraction (Vf) and aspect ratio (l/d) on mechanical properties of CNF reinforced polypropylene (PP) composites. Materials Studio 5.5 has been used as a tool for finding the modulus and damping in composites. CNF composition in PP was varied by volume from 0 to 16%. Aspect ratio of CNF was varied from l/d=5 to l/d=100. To the best of the knowledge of the authors, till date there is no study, either experimental or analytical, which predict damping for CNF-PP composites at the nanoscale. Hence, this will be a valuable addition in the area of nanocomposites. Results show that with only 2% addition by volume of CNF in PP, E11 increases 748%. Increase in E22 is very less in comparison to the increase in E11. With increase in CNF aspect ratio (l/d) till l/d=60, the longitudinal loss factor (η11) decreases rapidly. Results of this study have been compared with those available in literature.

Keywords: carbon nanofiber, elasticity, mechanical properties, molecular dynamics

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Authors: Sakapas Saengchai

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This research has objective to study and analysis, expending linkage of trading border of Thai-Myanmar and the way of development trading of Thai-Myanmar border. There are advantage of competition in ASEAN Community on collection data and observation, in-depth interview, group conversation and exchange opinion of public agency, entrepreneur and people. Result of study found that main development of border trade is 1) Cross-border service should be development infrastructure of land telecommunication, sea has support economics of cross-border trade, 2) International consumption service should be expand service with Myanmar and India for linkage with entrepreneur and trading from international to Thailand, 3) Establish business for provide service has development cooperation of logistics via Andaman of Thailand, and 4) Mobility personnel, exchange personnel including labor for development potential of border trade has competition advantage.

Keywords: border trade, development, service, ASEAN

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Authors: Kiurski S. Jelena, Kecić S. Vesna, Oros B. Ivana

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Experimental results confirmed the temporal variation of carbon dioxide and carbon monoxide concentration during the working shift of the photocopying process in a small photocopying shop in Novi Sad, Serbia. The statistically significant differences of target gases were examined with two-way analysis of variance without replication followed by Scheffe's post hoc test. The existence of statistically significant differences was obtained for carbon monoxide emission which is pointed out with F-values (12.37 and 31.88) greater than F_crit (6.94) in contrary to carbon dioxide emission (F-values of 1.23 and 3.12 were less than F_crit).  Scheffe's post hoc test indicated that sampling point A (near the photocopier machine) and second time interval contribute the most on carbon monoxide emission.

Keywords: analysis of variance, carbon dioxide, carbon monoxide, photocopying indoor, Scheffe's test

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Authors: Gaoyuan Wang, Tian Chen

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China’s emission peak and carbon neutrality strategies lead to the transformation of development patterns and call for new green urban design thinking. This paper begins by revealing the evolution of green urban design thinking during the periods of carbon enlightenment, carbon dependency, and carbon decoupling from the perspective of the energy transition. Combined with the current energy situation, national strengths, and technological trends, the emergence of green urban design towards carbon neutrality becomes inevitable. Based on the preliminary analysis of its connotation, the characteristics of the new type of green urban design are generalized as low-carbon orientation, carbon-related objects, carbon-reduction means, and carbon-control patterns. Its theory is briefly clarified in terms of the human-earth synergism, quality-energy interconnection, and form-flow interpromotion. Then, its mechanism is analyzed combined with the core tasks of carbon neutrality, and the scope of design issues is defined, including carbon flow mapping, carbon source regulation, carbon sink construction, and carbon emission management. Finally, a multi-scale spatial response system is proposed across the region, city, cluster, and neighborhood level. The discussion aims to provide support for the innovation of green urban design theories and methods in the context of peak neutrality.

Keywords: carbon neutrality, green urban design, energy transition, theoretical exploration

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Authors: Getenet Aseged Zeleke

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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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Authors: Tom Spears, Zotique Laframboise

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Soil inorganic carbon is the most common form of carbon in arid and semiarid regions, and has a very long turnover time. However, little is known about dissolved inorganic carbon storage and its turnover time in these soils. With 81 arid soil samples taken from 6 profiles in the Nepean Desert, Canada, we investigated the soil inorganic carbon (SIC) and the soil dissolved inorganic carbon (SDIC) in whole profiles of saline and alkaline soils by analyzing their contents and ages with radiocarbon dating. The results showed that there is considerable SDIC content in SIC, and the variations of SDIC and SIC contents in the saline soil profile were much larger than that in the alkaline profile. We investigated the possible implications for tectonic platelet activity but identified none.

Keywords: soil, carbon storage, acidity, soil inorganic carbon (SIC)

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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: Wilaiwan Sornpoon, Sébastien Bonnet, Savitri Garivait

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Open burning of sugarcane fields is recognized to have a negative impact on soil by degrading its properties, especially soil organic carbon (SOC) content. Better understating the effect of open burning on soil carbon dynamics is crucial for documenting the carbon sequestration capacity of agricultural soils. In this study, experiments to investigate soil carbon stocks under burned and unburned sugarcane plantation systems in Thailand were conducted. The results showed that cultivation fields without open burning during 5 consecutive years enabled to increase the SOC content at a rate of 1.37 Mg ha-1y-1. Also it was found that sugarcane fields burning led to about 15% reduction of the total carbon stock in the 0-30 cm soil layer. The overall increase in SOC under unburned practice is mainly due to the large input of organic material through the use of sugarcane residues.

Keywords: soil organic carbon, soil inorganic carbon, carbon sequestration, open burning, sugarcane

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Authors: Salim Ahmed

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The aim of this study was to recover a natural residue in the form of activated carbon prepared from Moroccan "argan pits and date pits" plant waste. After preparing the raw material for manufacture, the carbon was carbonised at 300°C and chemically activated with phosphoric acid of purity 85. The various characterisation results (moisture and ash content, specific surface area, pore volume, etc.) showed that the carbons obtained are comparable to those manufactured industrially and could therefore be tested, for example, in water treatment processes and especially for the depollution of effluents used in the agri-food and textile industries.

Keywords: activated carbon, water treatment, adsorption, argan

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Authors: Rama Seth, Luise Noring, Pratim Majumdar

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Based on an extensive literature review, this paper presents distinct approaches to value, quantify and trade ecosystem services, with particular emphasis on services provided by mangroves and wetlands. Building on diverse monetary and market-based systems for the improved allocation of natural resources, such trading and exchange-based methods can help tackle the degradation of ecosystem services in a more targeted and structured manner than achievable with stand-alone policy and administrative regulations. Using various threads of literature, the paper proposes a platform that serves as the skeletal foundation for developing an efficient global market for ecosystem services trading. The paper bridges a significant research and practice gap by recommending how to establish an equilibrium in the biosphere via trading mechanisms while also discovering other research gaps and future research potential in the domain of ecosystem valuation.

Keywords: environment, economics, mangroves, wetlands, markets, ESG, global capital, climate investments, valuation, ecosystem services

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Authors: Sreevalli Bokka

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Various technologies are emerging to capture or reduce carbon intensity from a gas stream, such as industrial effluent air and atmosphere. Of these technologies, filter membranes are emerging as a key player in carbon sequestering. The key advantages of these membranes are their high surface area and porosity. Fabricating a filter membrane that has high selectivity for carbon sequestration is challenging as material properties and processing parameters affect the membrane properties. In this study, the growth of the filter membranes and the critical material properties that impact carbon sequestration are presented.

Keywords: membranes, filtration, separations, polymers, carbon capture

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Authors: Dina K. Badawy, Dina M. Ibrahim, Alsayed A. Sallam

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Distributed database is a collection of logically related databases that cooperate in a transparent manner. Query processing uses a communication network for transmitting data between sites. It refers to one of the challenges in the database world. The development of sophisticated query optimization technology is the reason for the commercial success of database systems, which complexity and cost increase with increasing number of relations in the query. Mariposa, query trading and query trading with processing task-trading strategies developed for autonomous distributed database systems, but they cause high optimization cost because of involvement of all nodes in generating an optimal plan. In this paper, we proposed a modification on the autonomous strategy K-QTPT that make the seller’s nodes with the lowest cost have gradually high priorities to reduce the optimization time. We implement our proposed strategy and present the results and analysis based on those results.

Keywords: autonomous strategies, distributed database systems, high priority, query optimization

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Authors: Armin Najipour, A. M. Fattahi

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The aim of this research was to investigate the effect of the addition of multi walled carbon nanotubes on the mechanical properties of polyethylene/carbon nanotube nanocomposites. To do so, polyethylene and carbon nanotube were mixed in different weight percentages containing 0, 0.5, 1, and 1.5% carbon nanotube in two screw extruder apparatus by fusion. Then the nanocomposite samples were molded in injection apparatus according to ASTM: D6110 standard. The effects of carbon nanotube addition in 4 different levels and injection pressure in 2 levels on the hardness and impact strength of the nanocomposite samples were investigated. The results showed that the addition of carbon nanotube had a significant effect on improving hardness and impact strength of the nanocomposite samples such that by adding 1% w/w carbon nanotube, the impact strength and hardness of the samples improved to 74% and 46.7% respectively. Also, according to the results, the effect of injection pressure on the results was much less than that of carbon nanotube weight percentage.

Keywords: carbon nanotube, injection molding, mechanical properties, nanocomposite, polyethylene

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Authors: D. P. Evdokimov, A. N. Kirichenko, V. D. Blank, V. N. Denisov, B. A. Kulnitskiy

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In this study we investigated the stability of polyhedral carbon onions under influence of shear deformation and high pressures above 43 GPa by means of by transmission electron microscopy (TEM) and Raman spectroscopy (RS). It was found that at pressures up to 29 GPa and shear deformations of 40 degrees the onions are stable. At shear deformation applying at pressures above 30 GPa carbon onions collapsed with formation of amorphous carbon. At pressures above 43 GPa diamond-like carbon (DLC) was obtained.

Keywords: carbon onions, Raman spectroscopy, transmission electron spectroscopy

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Authors: Ziaullah, Shah Wahab Ali

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Micro-grid equipped with heterogeneous energy resources present the idea of small scale distributed energy management (DEM). DEM helps in minimizing the transmission and operation costs, power management and peak load demands. Micro-grids are collections of small, independent controllable power-generating units and renewable energy resources. Micro-grids also motivate to enable active customer participation by giving accessibility of real-time information and control to the customer. The capability of fast restoration against faulty situation, integration of renewable energy resources and Information and Communication Technologies (ICT) make micro-grid as an ideal system for distributed power systems. Micro-grids can have a bank of energy storage devices. The energy management system of micro-grid can perform real-time energy forecasting of renewable resources, energy storage elements and controllable loads in making proper short-term scheduling to minimize total operating costs. We present a review of existing micro-grids optimization objectives/goals, constraints, solution approaches and tools used in micro-grids for energy management. Cost-benefit analysis of micro-grid reveals that cooperation among different micro-grids can play a vital role in the reduction of import energy cost and system stability. Cooperative micro-grids energy trading is an approach to electrical distribution energy resources that allows local energy demands more control over the optimization of power resources and uses. Cooperation among different micro-grids brings the interconnectivity and power trading issues. According to the literature, it shows that open area of research is available for cooperative micro-grids energy trading. In this paper, we proposed and formulated the efficient energy management/trading module for interconnected micro-grids. It is believed that this research will open new directions in future for energy trading in cooperative micro-grids/interconnected micro-grids.

Keywords: distributed energy management, information and communication technologies, microgrid, energy management

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Authors: Titinan Pothong, Prasit Wangpakapattanawong, Stephen Elliott

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Shifting cultivation is an indigenous agricultural practice among upland people and has long been one of the major land-use systems in Southeast Asia. As a result, fallows and secondary forests have come to cover a large part of the region. However, they are increasingly being replaced by monocultures, such as corn cultivation. This is believed to be a main driver of deforestation and forest degradation, and one of the reasons behind the recurring winter smog crisis in Thailand and around Southeast Asia. Accurate biomass estimation of trees is important to quantify valuable carbon stocks and changes to these stocks in case of land use change. However, presently, Thailand lacks proper tools and optimal equations to quantify its carbon stocks, especially for secondary evergreen forests, including fallow areas after shifting cultivation and smaller trees with a diameter at breast height (DBH) of less than 5 cm. Developing new allometric equations to estimate biomass is urgently needed to accurately estimate and manage carbon storage in tropical secondary forests. This study established new equations using a destructive method at three study sites: approximately 50-year-old secondary forest, 4-year-old fallow, and 7-year-old fallow. Tree biomass was collected by harvesting 136 individual trees (including coppiced trees) from 23 species, with a DBH ranging from 1 to 31 cm. Oven-dried samples were sent for carbon analysis. Wood density was calculated from disk samples and samples collected with an increment borer from 79 species, including 35 species currently missing from the Global Wood Densities database. Several models were developed, showing that aboveground biomass (AGB) was strongly related to DBH, height (H), and wood density (WD). Including WD in the model was found to improve the accuracy of the AGB estimation. This study provides insights for reforestation management, and can be used to prepare baseline data for Thailand’s carbon stocks for the REDD+ and other carbon trading schemes. These may provide monetary incentives to stop illegal logging and deforestation for monoculture.

Keywords: aboveground biomass, allometric equation, carbon stock, secondary forest

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Authors: Xu Xiao China, Xu Lei China

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After the 1990s, the concept of urban sustainable development has been increasing attention in urban planning and urban design. High carbon city, not a sustainable city construction model, has become an important problem which restricts the sustainable development of the city. Therefore, low-carbon city construction is the urgent need to solve the problem, and China is one of the core areas of low-carbon city construction in the world. The research work of low-carbon cities were participated by the Chinese government and academic institutes on theory and practice since 2007, and nowadays it comes to a practice stage with six low-carbon pilot provinces and 36 low-carbon pilot cities identified. To achieve the low-carbon target, developing low-carbon energy, adopting non-pollution technique, constructing green buildings and adopting ecolife-style are suggest by the government. Meanwhile, besides a new standard system and a new eco-environmental status evaluation method, the government also established the Chinese urban development institute including the Low-Carbon City Group. Finally, we want to transform the modern industrial civilization into an ecological civilization and realize sustainable urban development.

Keywords: low-carbon city, China, development practice, system construction, urban sustainability

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Authors: M. Stelmachowski, M. Wojtczak

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The aim of the work was to assess the environmental impact of the selected small and medium-sized companies supplying heat and electricity to the cities with a population of about 50,000 inhabitants. Evaluation and comparison of the impact on the environment have been carried out for the three plants producing heat and two CHP plants with particular attention to emissions into the atmosphere and the impact of introducing a system of trading carbon emissions of these companies.

Keywords: CO2 emission, district heating, heat and power plant, impact on environment

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Authors: Jiazhen Zhou, Youcai Zhao

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Waste tea is commonly generated in certain areas of China and its utilization has drawn a lot of concern nowadays. In this paper, highly microporous and mesoporous activated carbons were produced from waste tea by physical activation in the presence of water vapor in a tubular furnace. The effect of activation temperature on yield and pore properties of produced activated carbon are studied. The yield decreased with the increase of activation temperature. According to the Nitrogen adsorption isotherms, the micropore and mesopore are both developed in the activated carbon. The specific surface area and the mesopore volume fractions of the activated carbon increased with the raise of activation temperature. The maximum specific surface area attained 756 m²/g produced at activation temperature 900°C. The results showed that the activation temperature had a significant effect on the micro and mesopore volumes as well as the specific surface area.

Keywords: activated carbon, nitrogen adsorption isotherm, physical activation, waste tea

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Authors: Sorin Muraru

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Computational generation of carbon nanostructures is still a very demanding process. This work provides an alternative to manual molecular modeling through an algorithm meant to automate the design of such structures. Specifically, carbon nanochimneys are obtained through the bonding of a carbon nanotube with the smaller edge of an open carbon nanocone. The methods of connection rely on mathematical, geometrical and chemical properties. Non-hexagonal rings are used in order to perform the correct bonding of dangling bonds. Once obtained, they are useful for thermal transport, gas storage or other applications such as gas separation. The carbon nanochimneys are meant to produce a less steep connection between structures such as the carbon nanotube and graphene sheet, as in the pillared graphene, but can also provide functionality on its own. The method relies on connecting dangling bonds at the edges of the two carbon nanostructures, employing the use of two different types of auxiliary structures on a case-by-case basis. The code is implemented in Python 3.7 and generates an output file in the .pdb format containing all the system’s coordinates. Acknowledgment: This work was supported by a grant of the Executive Agency for Higher Education, Research, Development and innovation funding (UEFISCDI), project number PN-III-P1-1.1-TE-2016-24-2, contract TE 122/2018.

Keywords: carbon nanochimneys, computational, carbon nanotube, carbon nanocone, molecular modeling, carbon nanostructures

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Authors: M. Kalbac, T. Verhagen, K. Drogowska, J. Vejpravova

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One- and two-dimensional carbon nano structures with sp2 hybridization of carbon atoms (single walled carbon nano tubes and graphene) are promising materials in future electronic and spintronics devices due to specific character of their electronic structure. In this paper, we present a comparative study of graphene and single-wall carbon nano tubes by Raman spectro-microscopy in strong magnetic field. This unique method allows to study changes in electronic band structure of the two types of carbon nano structures induced by a strong magnetic field.

Keywords: carbon nano structures, magnetic field, raman spectroscopy, spectro-microscopy

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Authors: Mengna Hu

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This paper examines the impact of an anti-speculation tax policy on the trading activities and home price movements in the housing market in Hong Kong. The study focuses on the secondary residential property market where transactions dominate. The policy intervention substantially raised the transaction cost to speculators as well as genuine homeowners who dispose their homes within a certain period. Through the demonstration of structural breaks, our empirical results show that the rise in transaction cost effectively reduced speculative trading activities. However, it accelerated price increase in the small-sized segment by vastly demotivating existing homeowners from trading up to better homes, causing congestion in the lower-end market where the demand from first-time buyers is still strong. Apart from that, by employing regime switching approach, we further show that the unintended consequences are likely to be persistent due to this policy together with other strengthened cooling measures.

Keywords: transaction costs, housing market, structural breaks, regime switching

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Authors: Huanru Wang, Jianzhun Jiang

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At present, the preparation of the catalyst by carbon carrier is one of the improvement directions of the C₂ pre-hydrogenation catalyst. Carbon materials can be prepared from coal direct liquefaction residues, coconut shells, biomass, etc., and the pore structure of carbon carrier materials can be adjusted through the preparation process; at high temperatures, the carbon carrier itself also shows certain catalytic activity. Therefore, this paper mainly selected typical activated carbon and coconut shell carbon as carbon carrier materials, studied their microstructure and surface properties, prepared a series of carbon-based catalysts loaded with Pd, and investigated the effects of the content of promoter Ag and the concentration of reductant on the structure and performance of the catalyst and its catalytic performance for the pre hydrogenation of C₂. In this paper, the carbon supports from two sources and the catalysts prepared by them were characterized in detail. The results showed that the morphology and structure of different supports and the performance of the catalysts prepared were also obviously different. The catalyst supported on coconut shell carbon has a small specific surface area and large pore diameter. The catalyst supported on activated carbon has a large specific surface area and rich pore structure. The active carbon support is mainly a mixture of amorphous graphite and microcrystalline graphite. For the catalyst prepared with coconut shell carbon as the carrier, the sample is very uneven, and its specific surface area and pore volume are irregular. Compared with coconut shell carbon, activated carbon is more suitable as the carrier of the C₂ hydrogenation catalyst. The conversion of acetylene, methyl acetylene, and butadiene decreased, and the ethylene selectivity increased after Ag was added to the supported Pd catalyst. When the amount of promoter Ag is 0.01-0.015%, the catalyst has relatively good catalytic performance. Ag and Pd form an alloying effect, thus reducing the effective demand for Ag. The Pd Ag ratio is the key factor affecting the catalytic performance. When the addition amount of Ag is 0.01-0.015%, the dispersion of Pd on the carbon support surface can be significantly improved, and the size of active particles can be reduced. The Pd Ag ratio is the main factor in improving the selectivity of the catalyst. When the additional amount of sodium formate is 1%, the catalyst prepared has both high acetylene conversion and high ethylene selectivity.

Keywords: C₂ hydrogenation, activated carbon, Ag promoter, Pd catalysts

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Authors: S. Heydari, H. Sharififard, M. Nabavinia, H. Kiani, M. Parvizi

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Rapid industrialization has led to increased disposal of heavy metals into the environment. Activated carbon adsorption has proven to be an effective process for the removal of trace metal contaminants from aqueous media. This paper was investigated chromium adsorption efficiency by commercial activated carbon. The sorption studied as a function of activated carbon particle size, dose of activated carbon and initial pH of solution. Adsorption tests for the effects of these factors were designed with Taguchi approach. According to the Taguchi parameter design methodology, L9 orthogonal array was used. Analysis of experimental results showed that the most influential factor was initial pH of solution. The optimum conditions for chromium adsorption by activated carbons were found to be as follows: Initial feed pH 6, adsorbent particle size 0.412 mm and activated carbon dose 6 g/l. Under these conditions, nearly %100 of chromium ions was adsorbed by activated carbon after 2 hours.

Keywords: chromium, adsorption, Taguchi method, activated carbon

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Authors: Faustina Masocha, Vusani Moyo

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For decades, dividend announcements have been presumed to contain important signals about the future prospects of companies. Similarly, the same has been presumed about management earnings announcements. Despite both dividend and earnings announcements being considered informative, a number of researchers questioned their credibility and found both to contain short-term signals. Pertaining to dividend announcements, some authors argued that although they might contain important information that can result in changes in share prices, which consequently results in the accumulation of abnormal returns, their degree of informativeness is less compared to other signaling tools such as earnings announcements. Yet, this claim in favor has been refuted by other researchers who found the effect of earnings to be transitory and of little value to shareholders as indicated by the little abnormal returns earned during the period surrounding earnings announcements. Considering the above, it is apparent that both dividends and earnings have been hypothesized to have a signaling impact. This prompts one to question which between these two signaling tools is more informative. To answer this question, two follow-up questions were asked. The first question sought to determine the event which results in the most effect on share prices, while the second question focused on the event that influenced trading volume the most. To answer the first question and evaluate the effect that each of these events had on share prices, an event study methodology was employed on a sample made up of the top 10 JSE-listed companies for data collected from 2012 to 2019 to determine if shareholders gained abnormal returns (ARs) during announcement dates. The event that resulted in the most persistent and highest amount of ARs was considered to be more informative. Looking at the second follow-up question, an investigation was conducted to determine if either dividends or earnings announcements influenced trading patterns, resulting in abnormal trading volumes (ATV) around announcement time. The event that resulted in the most ATV was considered more informative. Using an estimation period of 20 days and an event window of 21 days, and hypothesis testing, it was found that announcements pertaining to the increase of earnings resulted in the most ARs, Cumulative Abnormal Returns (CARs) and had a lasting effect in comparison to dividend announcements whose effect lasted until day +3. This solidifies some empirical arguments that the signaling effect of dividends has become diminishing. It was also found that when reported earnings declined in comparison to the previous period, there was an increase in trading volume, resulting in ATV. Although dividend announcements did result in abnormal returns, they were lesser than those acquired during earnings announcements which refutes a number of theoretical and empirical arguments that found dividends to be more informative than earnings announcements.

Keywords: dividend signaling, event study methodology, information content of earnings, signaling theory

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Authors: Pamphile Ndagijimana, Xuejiao Liu, Zhiwei Li, Yin Wang

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Enhancing the properties of activated carbon is very imperative for various applications. Indeed, the activated carbon has promising physicochemical properties desired for a considerable number of applications. In this regard, we are proposing an enhanced and green technology for increasing the efficiency and performance of the activated carbon to various applications. The technique poses on the use of natural extracts from tuberous and cereals based-solutions. These solutions showed high potentiality to be used in the synthesis of activated carbon-graphene composite with only 3 mL. The extracted liquid from tuberous sourcing was enough to induce precipitation within a fraction of a minute in contrast to that from cereal sourced. Using these extracts, a synthesis of activated carbon-graphene composite was successful. Different characterization techniques such as XRD, SEM, FTIR, BET, and Raman spectroscopy were performed to investigate the composite materials. The results confirmed a conjugation between activated carbon and graphene material.

Keywords: activated carbon, cereals, extract solution, graphene, tuberous

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Authors: Maryam Kiani

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The aim of this study was to investigate the influence of carbon black additive on the properties of fly ash-based geopolymer. The geopolymer samples were prepared using fly ash as the primary source material, along with an alkali activator solution and different concentrations of carbon black additive. The effects of carbon black on the geopolymer binder were evaluated by analyzing the compressive strength, flexural strength, water absorption, and microstructural properties of the cured samples. The results revealed that the inclusion of carbon black additive significantly enhanced the mechanical properties of the geopolymer binder. The compressive and flexural strengths were found to increase with the addition of carbon black, showing improvements of up to 25% and 15%, respectively. Moreover, the water absorption of the geopolymer samples reduced due to the presence of carbon black, indicating improved resistance against water permeability. Microstructural analysis using scanning electron microscopy (SEM) revealed a more compact and homogenous structure in the geopolymer samples with carbon black. The dispersion of carbon black particles within the geopolymer matrix was observed, suggesting improved interparticle bonding and increased densification. Overall, this study demonstrates the positive impact of carbon black additive on the qualities of fly ash-based geopolymer, emphasizing its potential as an effective enhancer for geopolymer binder applications.

Keywords: fly-ash, carbon black, nanotechnology, geopolymer

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Authors: Jerome Joshi

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The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

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Authors: Adesola Orimoloye, Edward Gobina

Abstract:

Flue gas is the most prevalent source of carbon dioxide off-gas from numerous processes globally. Among the lion's share of this flue gas is the ever - present electric power plant, primarily fuelled by coal, and then secondly, natural gas. The carbon dioxide found in coal fired power plant off gas is among the dirtiest forms of carbon dioxide, even with many of the improvements in the plants; still this will yield sulphur and nitrogen compounds; among other rather nasty compounds and elements; all let to the atmosphere. This presentation will focus on the characterization of carbon dioxide-rich flue gas sources with a view of eventual conversion to chemicals and fuels using novel membrane reactors.

Keywords: Flue gas, carbon dioxide, membrane, catalyst, syngas

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