Search results for: cellular market

Authors: Ujjal Chattaraj, M. Raviteja, Chaitanya Aemala

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Over the years vehicular traffic has been given priority over pedestrian traffic. With the increase of population in cities, pedestrian traffic is increasing day by day. Pedestrian safety has become a matter of concern for the Traffic Engineers. Pedestrian comfort is primary important for the Engineers who design different pedestrian facilities. Pedestrian comfort and safety can be measured in terms of different level of service (LOS) of the facilities. In this study video data on pedestrian movement have been collected from different railway foot over bridges (FOB) in India. The level of service of those facilities has been analyzed. A cellular automata based model has been formulated to mimic the route choice behaviour of the pedestrians on the foot over bridges.

Keywords: cellular automata model, foot over bridge, level of service, pedestrian

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Authors: Mo-Se Lee, Cheol-Hwi Ahn, Kee-Young Kwahk, Hyunchul Ahn

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Over the past decade, deep learning has been in spotlight among various machine learning algorithms. In particular, CNN (Convolutional Neural Network), which is known as effective solution for recognizing and classifying images, has been popularly applied to classification and prediction problems in various fields. In this study, we try to apply CNN to stock market prediction, one of the most challenging tasks in the machine learning research. In specific, we propose to apply CNN as the binary classifier that predicts stock market direction (up or down) by using a graph as its input. That is, our proposal is to build a machine learning algorithm that mimics a person who looks at the graph and predicts whether the trend will go up or down. Our proposed model consists of four steps. In the first step, it divides the dataset into 5 days, 10 days, 15 days, and 20 days. And then, it creates graphs for each interval in step 2. In the next step, CNN classifiers are trained using the graphs generated in the previous step. In step 4, it optimizes the hyper parameters of the trained model by using the validation dataset. To validate our model, we will apply it to the prediction of KOSPI200 for 1,986 days in eight years (from 2009 to 2016). The experimental dataset will include 14 technical indicators such as CCI, Momentum, ROC and daily closing price of KOSPI200 of Korean stock market.

Keywords: convolutional neural network, deep learning, Korean stock market, stock market prediction

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Authors: O. S. Adeyemi, C. G. Whiteley

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The present study determined the toxic potential of metal nanoparticles in cell culture system. Silver and gold nanoparticles were synthesized and characterized following established "green" protocols. The synthesized nanoparticles, in varying concentrations ranging from 0.1–100 µM were evaluated for toxicity in metastatic MDA-MB-231 cells. The nanoparticles promoted a generation of reactive oxygen species and reduced cell viability to less than 50% in the demonstration of cellular toxicity. The nanoparticles; gold and the silver-gold mixture had IC50 values of 56.65 and 18.44 µM respectively. The IC50 concentration for silver nanoparticles could not be determined. Furthermore, the probe of the cell death using flow cytometry and confocal microscopy revealed the partial involvement of apoptosis as well as necrosis. Our results revealed cellular toxicity caused by the nanoparticles but the mechanism remains yet undefined.

Keywords: cell death, nanomedicine, nanotoxicology, toxicity

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Authors: Zilin Zhang

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Agent-based simulation has become a popular method of exploring the behavior of all kinds of urban systems. The city clearly is viewed as such a system. Many urban evolution processes, such as the development or the transaction of a piece of land, can be modeled with a set of rules. Such modeling approaches can be used to gain insight into urban-development and land market transactions in the real world. Our work contributes to such type of research by modeling the transactions of lands in a city and its surrounding suburbs. By replicating the demand and supply needs in the land market, we are able to demonstrate the different transaction patterns in three types of residential areas - downtown, city-suburban, and further suburban areas. In addition, we are also able to compare the vital roles of different activation conditions play in generating the various transaction patterns of the land market at the macro level. We use this simulation to loosely test our hypotheses about the nature of activation regimes by the replication of the Zi traders’ model. In the end, we hope our analytical results can be useful for city planners and policymakers to develop rational city plans and policies for shaping sustainable urban development.

Keywords: simulation, agent-based modeling, housing market, city

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Authors: Petra Buzkova, Milos Kopa

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Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

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Authors: Mohammed Ibrahim Girei

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Adamawa state is one the major producers of both crop and animals in Nigeria. Agricultural production serves as the major means livelihood of the people in the state. However, the agricultural activities of the farmers in the state are at subsistence level. However integration of these small scale farmers in local, national and international market is paramount importance. The paper was designed to categorize farmers based on market participation among the cattle farmers in Adamawa state, Nigeria. The multistage sampling procedure was employed. To achieve this procedure, structured questionnaires were used to collect data from 400 respondents. The data were analyzed using the descriptive statistics. The result revealed that the majority of market participants were net sellers (78.51 %) (Sales greater than purchase), net buyers were (purchase greater than sales) 12.95 % and only 9% were autarkic (sales equal purchase). The study recommends that Government should provide more effective security services in cattle farming communities, which is very important as the market participants in the study area were net sellers (producers), it will help in addressing the problem of cattle rustling and promote more investment in cattle industry. There is a need to establish a standard cattle market, veterinary services and grazing reserves in the area so that to facilitate the cattle production and marketing system in the area and to meet up with the challenging of livestock development as a result of rapid human population growth in developing countries like Nigeria.

Keywords: categories, cattle, farmers, market, participation

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers

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Authors: Sarmiza Stanca, Wolfgang Fritzsche, Christoph Krafft, Jürgen Popp

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Independent of the cell type a thin layer of a few nanometers thickness surrounds the cell interior as the cellular membrane. The transport of ions and molecules through the membrane is achieved in a very precise way by pores. Understanding the process of opening and closing the pores due to an electrochemical gradient across the membrane requires knowledge of the pore constitutive proteins. Recent reports prove the access to the molecular level of the cellular membrane by atomic force microscopy (AFM). This technique also permits an electrochemical study in the immediate vicinity of the tip. Specific molecules can be electrochemically localized in the natural cellular membrane. Our work aims to recognize the protein domains of the pores using an AFM probe as a miniaturized amperometric sensor, and to follow the protein behavior while changing the applied potential. The intensity of the current produced between the surface and the AFM probe is amplified and detected simultaneously with the surface imaging. The AFM probe plays the role of the working electrode and the substrate, a conductive glass on which the cells are grown, represent the counter electrode. For a better control of the electric potential on the probe, a third electrode Ag/AgCl wire is mounted in the circuit as a reference electrode. The working potential is applied between the electrodes with a programmable source and the current intensity in the circuit is recorded with a multimeter. The applied potential considers the overpotential at the electrode surface and the potential drop due to the current flow through the system. The reported method permits a high resolved electrochemical study of the protein domains on the living cell membrane. The amperometric map identifies areas of different current intensities on the pore depending on the applied potential. The reproducibility of this method is limited by the tip shape, the uncontrollable capacitance, which occurs at the apex and a potential local charge separation.

Keywords: AFM, sensor, membrane, pores, proteins

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Authors: Akshit Singhal, Xuan Wang, Zhijun Wang, Hao Che, Hong Jiang

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Multiple Path Transmission Control Protocols (MPTCPs) allow flows to explore path diversity to improve the throughput, reliability and network resource utilization. However, the existing solutions may discourage users to adopt the solutions in the face of multipath scenario where different paths are charged based on different pricing structures, e.g., WiFi vs cellular connections, widely available for mobile phones. In this paper, we propose a Hybrid MPTCP (H-MPTCP) with a built-in mechanism to incentivize users to use multiple paths with different pricing structures. In the meantime, H-MPTCP preserves the nice properties enjoyed by the state-of-the-art MPTCP solutions. Extensive real Linux implementation results verify that H-MPTCP can indeed achieve the design objectives.

Keywords: network, TCP, WiFi, cellular, congestion control

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Authors: Hossein Bazmara, Kaamran Raahemifar, Mostafa Sefidgar, Madjid Soltani

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Angiogenesis is formation of new blood vessels from existing vessels. Due to flow of blood in vessels, during angiogenesis, blood flow plays an important role in regulating the angiogenesis process. Multiple mathematical models of angiogenesis have been proposed to simulate the formation of the complicated network of capillaries around a tumor. In this work, a multi-scale model of angiogenesis is developed to show the effect of blood flow on capillaries and network formation. This model spans multiple temporal and spatial scales, i.e. intracellular (molecular), cellular, and extracellular (tissue) scales. In intracellular or molecular scale, the signaling cascade of endothelial cells is obtained. Two main stages in development of a vessel are considered. In the first stage, single sprouts are extended toward the tumor. In this stage, the main regulator of endothelial cells behavior is the signals from extracellular matrix. After anastomosis and formation of closed loops, blood flow starts in the capillaries. In this stage, blood flow induced signals regulate endothelial cells behaviors. In cellular scale, growth and migration of endothelial cells is modeled with a discrete lattice Monte Carlo method called cellular Pott's model (CPM). In extracellular (tissue) scale, diffusion of tumor angiogenic factors in the extracellular matrix, formation of closed loops (anastomosis), and shear stress induced by blood flow is considered. The model is able to simulate the formation of a closed loop and its extension. The results are validated against experimental data. The results show that, without blood flow, the capillaries are not able to maintain their integrity.

Keywords: angiogenesis, endothelial cells, multi-scale model, cellular Pott's model, signaling cascade

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Authors: Tahmina Akhter

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In the present work, we make a study of the repercussions of the pandemic generated by Covid-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze takes into account information from all continents as possible. Particularly in the US, Europe and China where the Covid-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, a risk has been generated, the investment of this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics, pandemic

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Authors: Bhawat Chiamjinnawat

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The agri-food market transformation has implied market growth for the fruit industry in Thailand. This article focuses on analysis of farmer competence and farm resources which affect market strategies used by fruit farmers in Chanthaburi province of Thailand. The survey data were collected through the use of face-to-face interviews with structured questionnaires. This study identified 14 drivers related to farmer competence and farm resources of which some had significant effect on the decision to use either high-value markets or traditional markets. The results suggest that farmers who used high-value markets were better educated and they had longer experience and larger sized business. Identifying the important factors that match with the market transformation provides policy with opportunities to support the fruit farmers to increase their market power. Policies that promote business expansion of agricultural cooperatives and knowledge sharing among farmers are recommended to reduce limitations due to limited knowledge, low experience, and small business sizes.

Keywords: farmer competence, farm resources, fruit industry, high-value markets, Thailand

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Authors: Bing Yan

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Nanomaterials are widely used in various industrial sectors, biomedicine, and more than 1300 consumer products. Although there is still no standard safety regulation, their potential toxicity is a major concern worldwide. We discovered that nanoparticles target and enter human cells1, perturb cellular signaling pathways2, affect various cell functions3, and cause malfunctions in animals4,5. Because the majority of atoms in nanoparticles are on the surface, chemistry modification on their surface may change their biological properties significantly. We modified nanoparticle surface using nano-combinatorial chemistry library approach6. Novel nanoparticles were discovered to exhibit significantly reduced toxicity6,7, enhance cancer targeting ability8, or re-program cellular signaling machineries7. Using computational chemistry, quantitative nanostructure-activity relationship (QNAR) is established and predictive models have been built to predict biocompatible nanoparticles.

Keywords: nanoparticle, nanotoxicity, nano-bio, nano-combinatorial chemistry, nanoparticle library

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Authors: Jang kyun Cho, Jeong-dong Lee

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The advent of the Internet, mobile communications, and social network services has stimulated social interactions among consumers, allowing people to affect one another’s innovation adoptions by exchanging information more frequently and more quickly. Previous diffusion models, such as the Bass model, however, face limitations in reflecting such recent phenomena in society. These models are weak in their ability to model interactions between agents; they model aggregated-level behaviors only. The agent based model, which is an alternative to the aggregate model, is good for individual modeling, but it is still not based on an economic perspective of social interactions so far. This study assumes the presence of social utility from other consumers in the adoption of innovation and investigates the effect of individual interactions on innovation diffusion by developing a new model called the interaction-based diffusion model. By comparing this model with previous diffusion models, the study also examines how the proposed model explains innovation diffusion from the perspective of economics. In addition, the study recommends the use of a small-world network topology instead of cellular automata to describe innovation diffusion. This study develops a model based on individual preference and heterogeneous social interactions using utility specification, which is expandable and, thus, able to encompass various issues in diffusion research, such as reservation price. Furthermore, the study proposes a new framework to forecast aggregated-level market demand from individual level modeling. The model also exhibits a good fit to real market data. It is expected that the study will contribute to our understanding of the innovation diffusion process through its microeconomic theoretical approach.

Keywords: innovation diffusion, agent based model, small-world network, demand forecasting

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Authors: Marin Mandić, Elis Sutlović, Tonći Modrić, Luka Stanić

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With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Keywords: electrical market prices, electricity market, energy storage optimization, mixed integer linear programming (MILP) optimization

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Authors: Yin Hua Zhang

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Cardiac metabolism is essential in myocardial contraction. In addition to glucose, fatty acids (FA) are essential in producing energy in the myocardium since FA-dependent beta-oxidation accounts for > 70-90% of cellular ATP under resting conditions. However, metabolism shifts from FAs to glucose utilization during disease progression (e.g. hypertrophy and ischemic myocardium), where glucose oxidation and glycolysis become the predominant sources of cellular ATP. At advanced failing stage, both glycolysis and beta-oxidation are dysregulated, result in insufficient supply of intracellular ATP and weakened myocardial contractility. Undeniably, our understandings of myocyte function in healthy and diseased hearts are based on glucose (10 mM)-dependent metabolism because glucose is the “sole” metabolic substrate in most of the physiological experiments. In view of the importance of FAs in cardiovascular health and diseases, we aimed to elucidate the impacts of FA supplementation on myocyte contractility and evaluate cellular mechanisms those mediate the functions in normal heart and with pathological stress. In particular, we have investigated cardiac excitation-contraction (E-C) coupling in the presence and absence of FAs in normal and hypertensive rat left ventricular (LV) myocytes. Our results reveal that FAs increase mitochondrial activity, intracellular [Ca²+]i, and LV myocyte contraction in healthy LV myocytes, whereas FA-dependent cardiac inotropyis attenuated in hypertension. FA-dependent myofilament Ca²+ desensitization could be fundamental in regulating [Ca²+]i. Collectively, FAs supplementation resets cardiac E-C coupling scheme in healthy and diseased hearts.

Keywords: hypertension, fatty acid, heart, calcium

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: Sasitorn Chetanont

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The objectives of this study are to find out the approaches to promote healthy recreation activities for elderly tourists and develop Bang Nam Phueng Floating Market to be a health tourism attraction. The research methodology was to analyze internal and external situations according to MP-MF and the MC-STEPS principles. As for the results of this study the researcher found that the healthy recreational activities for elderly tourists could be divided in 7 groups; travelling Bang Nam Phueng Floating Market activity, homestay relaxation, arts center platform activity, healthy massage activity, paying homage to a Buddha image activity, herbal joss-stick home activity, making local desserts and food activity.

Keywords: elderly tourists, recreation activities, Bang Nam Phueng Floating Market, health tourism

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Authors: Fatemeh Rezaei, Babak Shokri

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In this study, PMMA films are modified by oxygen plasma treatment for biomedical applications. The plasma generator is capacitively coupled radio frequency (13.56 MHz) power source. The oxygen pressure and gas flow rate are kept constant at 40 mTorr and 30 sccm, respectively and samples are treated for 2 minutes. Hydrophilicity and biocompatibility of PMMA films are studied before and after treatments in different applied powers (10-80 W). In order to monitor the plasma process, the optical emission spectroscopy is used. The wettability and cellular response of samples are investigated by water contact angle (WCA) analysis and MTT assay, respectively. Also, surface free energy (SFE) variations are studied based on the contact angle measurements of three liquids. It is found that RF oxygen plasma treatment enhances the biocompatibility and also hydrophilicity of PMMA films.

Keywords: cellular response, hydrophilicity, MTT assay, PMMA, RF plasma

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Authors: Messaoud Eljamai, Sami Hidouri

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Massive multiple-input multiple-output (MIMO) is an emerging technology for new cellular networks such as 5G systems. Its principle is to use many antennas per cell in order to maximize the network's spectral efficiency. Inter-cellular interference remains a fundamental problem. The use of massive MIMO will not derogate from the rule. It improves performances only when the number of antennas is significantly greater than the number of users. This, considerably, limits the networks spectral efficiency. In this paper, a coordinated detector for an uplink massive MIMO system is proposed in order to mitigate the inter-cellular interference. The proposed scheme combines the coordinated multipoint technique with an interference-cancelling algorithm. It requires the serving cell to send their received symbols, after processing, decision and error detection, to the interfered cells via a backhaul link. Each interfered cell is capable of eliminating intercellular interferences by generating and subtracting the user’s contribution from the received signal. The resulting signal is more reliable than the original received signal. This allows the uplink massive MIMO system to improve their performances dramatically. Simulation results show that the proposed detector improves system spectral efficiency compared to classical linear detectors.

Keywords: massive MIMO, COMP, interference canceling algorithm, spectral efficiency

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Authors: D. Tloczynski

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The main aim of this article is to present a balance of the decade of Polish air transport market in the European Union having taking into account selected entities of the aviation market. This article analyzes the functioning of the Polish air transport market after the Polish accession to the European Union. During the study two main areas were pointed: shipping activity and activity of the airports. The most important benefits of integration and the benefits of introducing of the open sky policy were indicated. The last part of the article presents the perspectives of development of air traffic.

Keywords: air transport, airports, development air transport, European Union, Poland

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Chaiwat Kongsom, Vitoon Panyakul

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The objective of this study was to assess the production and market of certified organic products in Thailand. A purposive sampling technique was used to identify a sample group of 154 organic entrepreneurs for the study. A survey and in-depth interview were employed for data collection. Also, secondary data from organic agriculture certification body and publications was collected. Then descriptive statistics and content analysis technique were used to describe about production and market of certified organic products in Thailand. Results showed that there were 9,218 farmers on 213,183.68 Rai (83,309.2 acre) of certified organic agriculture land (0.29% of national agriculture land). A total of 57.8% of certified organic agricultural lands were certified by the international certification body. Organic farmers produced around 71,847 tons/year and worth around THB 1,914 million (Euro 47.92 million). Excluding primary producers, 471 operators involved in the Thai organic supply chains, including processors, exporters, distributors, green shops, modern trade shops (supermarket shop), farmer’s markets and food establishments were included. Export market was the major market channel and most of organic products were exported to Europe and North America. The total Thai organic market in 2014 was estimated to be worth around THB 2,331.55 million (Euro 58.22 million), of which, 77.9% was for export and 22.06% was for the domestic market. The largest exports of certified organic products were processed foods (66.1% of total export value), followed by organic rice (30.4%). In the domestic market, modern trade was the largest sale channel, accounting for 59.48% of total domestic sales, followed by green shop (29.47%) and food establishment (5.85%). To become a center of organic farming and trading within ASEAN, the Thai organic sector needs to have more policy support in regard to agricultural chemicals, GMO, and community land title. In addition, appropriate strategies need to be developed.

Keywords: certified organic products, production, market, Thailand

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Authors: Marcela dos P. G. Baltazar, Louise H. Gracioso, Luciana J. Gimenes, Bruno Karolski, Ingrid Avanzi, Elen A. Perpetuo

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In this work, bacterial strains were isolated from environmental samples from a copper mine and three of them presented potential for bioremediation of copper. All the strains were identified by mass spectrometry (MALDI-TOF-Biotyper) and grown in three diferent media supplemented with 100 ppm of copper chloride in flasks of 500mL and it was incubated at 28 °C and 180 rpm. Periodically, samples were taken and monitored for cellular growth and copper biosorption by spectrophotometer UV-Vis (600 nm) and Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), respectively. At the end of exponential phase of cellular growth, the biomass was utilized to construct a correlation curve between absorbance and dry mass of the cells. Among the three isolates with potential for biorremediation, 1 strain exhibit capacity the most for bioremediation of effluents contaminated by copper being identified as Rhodococcus erythropolis.

Keywords: bioprocess, bioremediation, biosorption, copper

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Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: Subodh Kumar, Sanjeev Kumar Sharma, Gaurav Kaushik, Pramod Avti, Phulen Sarma, Bikash Medhi, Krishan Lal Khanduja

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Background: It is well known that cigarette smoke is one of the causative factors in various lung diseases especially cancer. Carcinogens and oxidant molecules present in cigarette smoke not only damage the cellular constituents (lipids, proteins, DNA) but may also regulate the molecular pathways involved in inflammation and cancer. Continuous oxidative stress caused by the constituents of cigarette smoke leads to higher PhospholipaseA₂ (PLA₂) activity, resulting in elevated levels of secondary metabolites whose role is well defined in cancer. To reduce the burden of chronic inflammation as well as oxidative stress, and higher levels of secondary metabolites, we checked the curative potential of PLA₂ inhibitor Bromoenol Lactone (BEL) during continuous exposure of cigarette smoke condensate (CSC). Aim: To check the therapeutic potential of Bromoenol Lactone (BEL), an inhibitor of PhospholipaseA₂s, in pathways of CSC-induced changes in type I and type II alveolar epithelial cells. Methods: Effect of BEL on CSC-induced PLA2 activity were checked using colorimetric assay, cellular toxicity using cell viability assay, membrane integrity using fluorescein di-acetate (FDA) uptake assay, reactive oxygen species (ROS) levels and apoptosis markers through flow cytometry, and cellular regulation using MAPKinases levels, in lung epithelium. Results: BEL significantly mimicked CSC-induced PLA₂ activity, ROS levels, apoptosis, and kinases level whereas improved cellular viability and membrane integrity. Conclusions: Current observations revealed that BEL may be a potential therapeutic agent during Cigarette smoke-induced anomalies in lung epithelium.

Keywords: cigarette smoke condensate, phospholipase A₂, oxidative stress, alveolar epithelium, bromoenol lactone

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

Abstract:

This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

Procedia PDF Downloads 153

Authors: Chih Chin Yang

Abstract:

The paper proposed a new theory of intellectual capital (so called IC) and a value approach in associated with production and market. After an in-depth review and research analysis of leading firms in this field, a holistic intellectual capital model is discussed, which involves transport, delivery supporting, and interface and systems of on intellectual capital. Through a quantity study, it is found that there is a significant relationship between the product value and infrastructure in a company. The product values are transferred from intellectual capital elements which includes three elements of content and the enterprise includes three elements of infrastructure in its market and product values of enterprise.

Keywords: enterprise, product value, intellectual capital, market and product values

Procedia PDF Downloads 366