Search results for: cost and return

Authors: M. R. Al-Rashidi, K. M. El-Naggar, M. F. Al-Hajri

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The fuel cost function describes the electric power generation-cost relationship in thermal plants, hence, it sheds light on economical aspects of power industry. Different models have been proposed to describe this relationship with the quadratic function model being the most popular one. Parameters of second order fuel cost function are estimated in this paper using cuckoo search algorithm. It is a new population based meta-heuristic optimization technique that has been used in this study primarily as an accurate estimation tool. Its main features are flexibility, simplicity, and effectiveness when compared to other estimation techniques. The parameter estimation problem is formulated as an optimization one with the goal being minimizing the error associated with the estimated parameters. A case study is considered in this paper to illustrate cuckoo search promising potential as a valuable estimation and optimization technique.

Keywords: cuckoo search, parameters estimation, fuel cost function, economic dispatch

Procedia PDF Downloads 549

Authors: Yuan-Jye Tseng, Shin-Han Lin

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In this research, a mathematical model for integrated evaluation of green design and green manufacturing processes is presented. To design a product, there can be alternative options to design the detailed components to fulfill the same product requirement. In the design alternative cases, the components of the product can be designed with different materials and detailed specifications. If several design alternative cases are proposed, the different materials and specifications can affect the manufacturing processes. In this paper, a new concept for integrating green design and green manufacturing processes is presented. A green design can be determined based the manufacturing processes of the designed product by evaluating the green criteria including energy usage and environmental impact, in addition to the traditional criteria of manufacturing cost. With this concept, a mathematical model is developed to find the green design and the associated green manufacturing processes. In the mathematical model, the cost items include material cost, manufacturing cost, and green related cost. The green related cost items include energy cost and environmental cost. The objective is to find the decisions of green design and green manufacturing processes to achieve the minimized total cost. In practical applications, the decision-making can be made to select a good green design case and its green manufacturing processes. In this presentation, an example product is illustrated. It shows that the model is practical and useful for integrated evaluation of green design and green manufacturing processes.

Keywords: supply chain management, green supply chain, green design, green manufacturing, mathematical model

Procedia PDF Downloads 774

Authors: A. S. Walkey, N. P. Patidar

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It is not always economical to provide reactive power using synchronous alternators. The cost of reactive power can be minimized by optimal placing of FACTS devices in power systems. In this paper a Particle Swarm Optimization- Sequential Quadratic Programming (PSO-SQP) algorithm is applied to minimize the cost of reactive power generation along with real power generation to alleviate the bus voltage violations. The effectiveness of proposed approach tested on IEEE-14 bus systems. In this paper in addition to synchronous generators, an opportunity of FACTS devices are also proposed to procure the reactive power demands in the power system.

Keywords: reactive power, reactive power cost, voltage security margins, capability curve, FACTS devices

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Authors: Mustapha Yakubu, Ahmed Usman, Hashim Ambursa

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This paper presents the findings of a research which sought to investigate techniques used to improve cost and time control of construction projects management practice in Nigeria. However, there is limited research on issues surrounding the practical usage of these techniques. Data were collected through a questionnaire distributed to construction experts through a survey conducted on the 100 construction organisations and 50 construction consultancy firms in the Nigeria aimed at identifying common project cost and time control practices and factors inhibiting effective project control in practice. The study reveals that despite the vast application of control techniques a high proportion of respondents still experienced cost and time overruns on a significant proportion of their projects. Analysis of the survey results concluded that more effort should be geared at the management of the identified top project control inhibiting factors. This paper has outlined some measures for mitigating these inhibiting factors so that the outcome of project time and cost control can be improved in practice.

Keywords: construction project, cost control, Nigeria, time control

Procedia PDF Downloads 279

Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih

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The banking sector as an intermediary party or intermediaries occupies a very important position in bridging the needs of working capital investment in the real sector with funds owner. This will certainly make money more effectively to improve the economic value added. As an intermediary, Islamic banks raise funds from the public and then distribute in the form of financing. In practice, the distribution of funding that is run by Islamic Banking is not as easy as, in theory, because, in fact, there are many financing problems; some are caused by lacking the assessment and supervision of banks to customers. This study aims to analyze the influence of the Third Party Funds, Return on Assets (ROA), Non Performing Financing (NPF), and Financing Deposit Ratio (FDR) to Total Financing provided to the Community by Islamic Banks in Indonesia. The data used is monthly data released by Bank of Indonesia in Islamic Banking Statistics in the time period of January 2009 - December 2013. This study uses cointegration test to see the long-term relationship, and use error correction models to examine the relationship of short-term. The results of this study indicate that the Third Party Fund has a short-term effect on total funding, Return on Assets has a long term effect on the total financing, Non Performing Financing has long-term effects of total financing, and Financing deposit ratio has the effect of short-term and long-term of the total financing provided by Islamic Banks in Indonesia.

Keywords: Islamic banking, third party fund, return on asset, non-performing financing, financing deposit ratio

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Authors: Byungchae Kim, Jiwoo Nam

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Aging of weapon systems can cause the failure and degeneration of components which results in increase of operating and support costs. However, whether this aging effect is significantly strong and it influences a lot on national defense spending due to the rapid increase in operating and support (O&S) costs is questionable. To figure out this, we conduct a literature review analyzing the aging effect of US weapon systems. We also conduct an empirical research using a maintenance database of Korean weapon systems, Defense Logistics Integrated Information System (DAIIS). We run regression of various types of O&S cost on weapon system age to investigate the statistical significance of aging effect and use generalized linear model to find relations between the failure of different priced components and the age. Our major finding is although aging effect exists, its impacts on weapon system cost seem to be not too large considering several characteristics of O&S cost elements not relying on the age.

Keywords: O&S cost, aging effect, weapon system, GLM

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Authors: Niranjan Devkota , Ram Kumar Phuya, Durga Lal Shreshta

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This paper estimates cost and benefit of adoption of climate change adaptation options available to the rural rice farmers of Nepal. Adoption of adaptation strategies, intensity of use of adaptation options, identification of labor and non-labor cost and finally per unit cost and benefit analysis of climate change adaptation were made. Multi-stage sampling technique was used to source respondents for the study and used structured questionnaire techniques to collect data from 773 households from seven districts; 3 from Terai and 4 from Hilly region of Nepal. The result revealed that there are 13 major adaptation options rice farmers practice in order to protect themselves from climatic risk. Among the given adaptation options, the first three popular adaptation options practiced by rice farmers are (i) increasing use of chemical fertilizer (60.93%) (ii) use of climate smart verities (49.29%) and (iii) change in nursery date (32.08%). Adaptation cost is obvious, based on that, the first three costly adaptation options are the alternative irrigation practice which incurred average cost of US $69.95 (US$ 1 = 102.84 Nepalese Rupees) followed by a denser plantation of local seeds ($ 20.69) and using climate smart varieties ($ 18.06). 88% farmers practiced more than one adaptation strategies on the same farm with the aim of reducing the effect of extreme climatic conditions. Total cost and revenue revealed that per unit total cost ranges from $28.34 to $32.79 whereas per unit total revenue ranges $33.4 to $49.02. Surprisingly, it is observed that farmers who do not adopt any adaptation options are able to receive highest income from per unit production. As Net Present Value (NPV) is positive and Benefit Cost Ration (BCR) is greater than one for every adaptation options that indicates the available adaptation options are profitable to the rice farmers.

Keywords: climate change, adaptation options, cost benefit analysis, rural rice farmers, Nepal

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Authors: Ali Mohammadi

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Every construction that is done, the most important part of attention for employers and contractors is its cost, and they always try to reduce costs so that they can compete in the market, so they estimate the cost of construction before starting their activities. The costs can be generally divided into four parts: the materials used, the equipment used, the manpower required, and the time required. In this article, we are trying to talk about the three items of equipment, manpower, and time, and examine how the use of apps can reduce the cost of construction, while due to various reasons, it has received less attention in the field of app design. Also, because we intend to use these apps in construction and they are used by engineers and experts, we define these apps as engineering apps because the idea of ​​their design must be by an engineer who works in that field. Also, considering that most engineers are familiar with programming during their studies, they can design the apps they need using simple programming software.

Keywords: layout, as-bilt, monitoring, maps

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Authors: Damien Kunjal, Faeezah Peerbhai

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Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

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Authors: Cihan Çetinkaya, Eren Özceylan, Kerem Elibal

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This paper presents a solution method for selection of production facility. The motivation has been taken from a real life case, an automotive subcontractor which has two production facilities at different cities and parts. The problem is to decide which part(s) should be produced at which facility. To the best of our knowledge, until this study, there was no scientific approach about this problem at the firm and decisions were being given intuitively. In this study, some logistic cost parameters have been defined and with these parameters a mathematical model has been constructed. Defined and collected cost parameters are handling cost of parts, shipment cost of parts and shipment cost of welding fixtures. Constructed multi-objective mathematical model aims to minimize these costs while aims to balance the workload between two locations. Results showed that defined model can give optimum solutions in reasonable computing times. Also, this result gave encouragement to develop the model with addition of new logistic cost parameters.

Keywords: automotive subcontract, facility assignment, logistic costs, multi-objective models

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Authors: Chee Fai Tan, L. S. Wahidin, S. N. Khalil

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Nowadays, manufacturing cost is one of the important factors that will affect the product cost as well as company profit. There are many methods that have been used to reduce the manufacturing cost in order for a company to stay competitive. One of the factors that effect manufacturing cost is the time. Expert system can be used as a method to reduce the manufacturing time. The purpose of the expert system is to diagnose and solve the problem of design of assembly. The paper describes an architecture framework for design of assembly expert system that focuses on commercial vehicle seat manufacturing industry.

Keywords: design of assembly, expert system, vehicle seat, mechanical engineering

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Authors: Y. Long, L. Liu, K. V. Branin

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One challenge faced by procurement decision-maker during the acquisition process is how to compare similar products from different suppliers and allocate orders among different products or services. This work focuses on allocating orders among multiple suppliers considering rebate. The objective function is to minimize the total acquisition cost including purchasing cost and rebate benefit. Rebate benefit is complex and difficult to estimate at the ordering step. Rebate rules vary for different suppliers and usually change over time. In this work, we developed a system to collect the rebate policies, standardized the rebate policies and developed two-stage optimization models for ordering allocation. Rebate policy with multi-tiers is considered in modeling. The discontinuous cost function of rebate benefit is formulated for different scenarios. A piecewise linear function is used to approximate the discontinuous cost function of rebate benefit. And a Mixed Integer Programing (MIP) model is built for order allocation problem with multi-tier rebate. A case study is presented and it shows that our optimization model can reduce the total acquisition cost by considering rebate rules.

Keywords: discontinuous cost function, mixed integer programming, optimization, procurement, rebate

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Authors: Wale Agbaje

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The aim of this research study is to assess the impact of financial statement fraud on profitability of some selected Nigerian manufacturing firms covering (2002-2016). The specific objectives focused on to ascertain the effect of incorrect asset valuation on return on assets (ROA) and to ascertain the relationship between improper expense recognition and return on assets (ROA). To achieve these objectives, descriptive research design was used for the study while secondary data were collected from the financial reports of the selected firms and website of security and exchange commission. The analysis of covariance (ANCOVA) was used and STATA II econometric method was used in the analysis of the data. Altman model and operating expenses ratio was adopted in the analysis of the financial reports to create a dummy variable for the selected firms from 2002-2016 and validation of the parameters were ascertained using various statistical techniques such as t-test, co-efficient of determination (R2), F-statistics and Wald chi-square. Two hypotheses were formulated and tested using the t-statistics at 5% level of significance. The findings of the analysis revealed that there is a significant relationship between financial statement fraud and profitability in Nigerian manufacturing industry. It was revealed that incorrect assets valuation has a significant positive relationship and so also is the improper expense recognition on return on assets (ROA) which serves as a proxy for profitability. The implication of this is that distortion of asset valuation and expense recognition leads to decreasing profit in the long run in the manufacturing industry. The study therefore recommended that pragmatic policy options need to be taken in the manufacturing industry to effectively manage incorrect asset valuation and improper expense recognition in order to enhance manufacturing industry performance in the country and also stemming of financial statement fraud should be adequately inculcated into the internal control system of manufacturing firms for the effective running of the manufacturing industry in Nigeria.

Keywords: Althman's Model, improper expense recognition, incorrect asset valuation, return on assets

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Authors: Charlotte K. Lee, Henrique R. N. Aguiar, Ralph Smith, James Baldock, Sam Botchey

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Background: Femoral neck stress fractures (FNSF) are uncommon, making up 1 to 7.2% of stress fractures in healthy subjects. FNSFs are prevalent in young women, military recruits, endurance athletes, and individuals with energy deficiency syndrome or female athlete triad. Presentation is often non-specific and is often misdiagnosed following the initial examination. There is limited research addressing the return–to–activity time after FNSF. Previous studies have demonstrated prognostic time predictions based on various imaging techniques. Here, (1) OxSport clinic FNSF practice standards are retrospectively reviewed, (2) FNSF cohort demographics are examined, (3) Regression models were used to predict return–to–activity prognosis and consequently determine bone stress risk factors. Methods: Patients with a diagnosis of FNSF attending Oxsport clinic between 01/06/2020 and 01/01/2020 were selected from the Rheumatology Assessment Database Innovation in Oxford (RhADiOn) and OxSport Stress Fracture Database (n = 14). (1) Clinical practice was audited against five criteria based on local and National Institute for Health Care Excellence guidance, with a 100% standard. (2) Demographics of the FNSF cohort were examined with Student’s T-Test. (3) Lastly, linear regression and Random Forest regression models were used on this patient cohort to predict return–to–activity time. Consequently, an analysis of feature importance was conducted after fitting each model. Results: OxSport clinical practice met standard (100%) in 3/5 criteria. The criteria not met were patient waiting times and documentation of all bone stress risk factors. Importantly, analysis of patient demographics showed that of the population with complete bone stress risk factor assessments, 53% were positive for modifiable bone stress risk factors. Lastly, linear regression analysis was utilized to identify demographic factors that predicted return–to–activity time [R2 = 79.172%; average error 0.226]. This analysis identified four key variables that predicted return-to-activity time: vitamin D level, total hip DEXA T value, femoral neck DEXA T value, and history of an eating disorder/disordered eating. Furthermore, random forest regression models were employed for this task [R2 = 97.805%; average error 0.024]. Analysis of the importance of each feature again identified a set of 4 variables, 3 of which matched with the linear regression analysis (vitamin D level, total hip DEXA T value, and femoral neck DEXA T value) and the fourth: age. Conclusion: OxSport clinical practice could be improved by more comprehensively evaluating bone stress risk factors. The importance of this evaluation is demonstrated by the population found positive for these risk factors. Using this cohort, potential bone stress risk factors that significantly impacted return-to-activity prognosis were predicted using regression models.

Keywords: eating disorder, bone stress risk factor, femoral neck stress fracture, vitamin D

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Authors: Lawong Damian Bernsah

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Neglected Tropical Diseases (NTDs) are most predominant among the poor and rural populations and are endemic in 149 countries. These diseases are the most prevalent and responsible for infecting 1.4 billion people worldwide. There are 17 neglected tropical diseases recognized by WHO that constitute the fourth largest disease health and economic burden of all communicable diseases. Five of these 17 diseases are considered for the cost analysis of this paper: lymphatic filariasis, onchocerciasis, trachoma, schistosomiasis, and soil transmitted helminth infections. WHO has proposed a roadmap for eradication and elimination by 2020 and treatments have been donated through the London Declaration by pharmaceutical manufacturers. The paper estimates the cost of NTD control programme and elimination for each NTD disease and total in Nigeria. This is necessary as it forms the bases upon which programme budget and expenditure could be based. Again, given the opportunity cost the resources for NTD face it is necessary to estimate the cost so as to provide bases for comparison. Cost of NTDs control and elimination programme is estimated using the population at risk for each NTD diseases and for the total. The population at risk is gotten from the national master plan for the 2015 - 2020, while the cost per person was gotten for similar studies conducted in similar settings and ranges from US$0.1 to US$0.5 for Mass Administration of Medicine (MAM) and between US$1 to US$1.5 for each NTD disease. The combined cost for all the NTDs was estimated to be US$634.88 million for the period 2015-2020 and US$1.9 billion for each NTD disease for the same period. For the purpose of sensitivity analysis and for robustness of the analysis the cost per person was varied and all were still high. Given that health expenditure for Nigeria (% of GDP) averages 3.5% for the period 1995-2014, it is very clear that efforts have to be made to improve allocation to the health sector in general which is hoped could trickle to NTDs control and elimination. Thus, the government and the donor partners would need to step-up budgetary allocation and also to be aware of the costs of NTD control and elimination programme since they have alternative uses. Key Words: Neglected Tropical Disease, Cost Analysis, NTD Programme Control and Elimination, Cost per Person

Keywords: Neglected Tropical Disease, Cost Analysis, Neglected Tropical Disease Programme Control and Elimination, Cost per Person

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Authors: M. R. Gholizadeh, N. Bhuiyan, M. Salari

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In the near future, companies will be increasingly forced to shift their activities along a new road in order to decrease the harmful effects of their design, production and after-life on our environment. Products must meet environmental standards to not only prevent penalties but to consider the sustainability for future generations. However, the most important factor that companies will face is selecting a reasonable strategy to maximize their profit. Thus, companies need to have precise forecast from their profit after design stage through Trade-off analysis. This paper is an attempt to introduce a mathematical model that considers effective factors that impact the total profit when products are designed for resource and energy efficiency or recyclability. The modification is according to different strategies based on a Cost-Volume-Profit model. Here, the cost structure consists of Recycling cost, Development cost, Ramp-up cost, Production cost, and Pollution cost. Also, the model shows the effect of implementation of design for recyclable on revenue structure through revenue of used parts and revenue of recycled materials. A numerical example is used to evaluate the proposed model. Results show that fulfillment of Green Product Development not only can reduce the environmental impact of products but also it will increase profit of company in long term.

Keywords: green product, design for environment, C-V-P model, trade-off analysis

Procedia PDF Downloads 288

Authors: A. Brand, S. Burgalat, E. Chastel, M. Jumeline, L. Teilhac

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The paper presents actual benefits and drawbacks of a multidirectional Hovercraft conceived with limited resources and designed for indoor exploration. Recent developments in the field have led to apparition of very powerful automotive systems capable of very high calculation and exploration in complex unknown environments. They usually propose very complex algorithms, high precision/cost sensors and sometimes have heavy calculation consumption with complex data fusion. Those systems are usually powerful but have a certain price and the benefits may not be worth the cost, especially considering their hardware limitations and their power consumption. Present approach is to build a compromise between cost, power consumption and results preciseness.

Keywords: Hovercraft, indoor exploration, autonomous, multidirectional, wireless control

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Authors: Rong Wang, Sandra Hasanefendic, Elizabeth von Hauff, Bart Bossink

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Technological learning and learning curve models have been continuously used to estimate the photovoltaics (PV) cost development over time for the climate mitigation targets. They can integrate a number of technological learning sources which influence the learning process. Yet the accuracy and realistic predictions for cost estimations of PV development are still difficult to achieve. This paper develops four hypothetical-alternative learning curve models by proposing different combinations of technological learning sources, including both local and global technology experience and the knowledge stock. This paper specifically focuses on the non-linear relationship between the costs and technological learning source and their dynamic interaction and uses the system dynamics approach to predict a more accurate PV cost estimation for future development. As the case study, the data from China is gathered and drawn to illustrate that the learning curve model that incorporates both the global and local experience is more accurate and realistic than the other three models for PV cost estimation. Further, absorbing and integrating the global experience into the local industry has a positive impact on PV cost reduction. Although the learning curve model incorporating knowledge stock is not realistic for current PV cost deployment in China, it still plays an effective positive role in future PV cost reduction.

Keywords: photovoltaic, system dynamics, technological learning, learning curve

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Authors: Saad Bin Nasir

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This research will examine the impact of corporate governance on firm performance in family and non-family owned firms in Pakistan. For the purpose of this research, corporate governance mechanisms which included are board size, board composition, leadership structure, board meetings are taken as independent variable and firm performance taken as dependent variable and it will be measured with return on asset and return on equity. Firm size and firm’s age will be taken as control variables. Secondary data will collect from audited annul reports of companies and panel data regression model will applied, to check the impact of corporate governance on firm performance.

Keywords: board size, board composition, Leadership Structure, board meetings, firm performance, family and non-family owned firms

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Authors: Jyothirmayee Pola

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Ideally, a test-driven development (TDD) or agile or any other process should be able to define and implement performance, scalability, and reliability (PSR) of the product with a higher quality of service (QOS) and should have the ability to fix any PSR issues with lesser cost before it hits the production. Most PSR test strategies for new product introduction (NPI) include assumptions about production load requirements but never accurate. NPE (New product Enhancement) include assumptions for new features that are being developed whilst workload distribution for older features can be derived by analyzing production transactions. This paper talks about how to shift left PSR towards design phase of release management process to get better QOS w.r.t PSR for any product under development. It also explains the ROI for future customer onboarding both for Service Oriented Architectures (SOA) and Microservices architectures and how to define PSR requirements.

Keywords: component PSR, performance engineering, performance tuning, reliability, return on investment, scalability, system PSR

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Authors: Juan Bojórquez, Sonia E. Ruiz, Edén Bojórquez, David de León Escobedo

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A life-cycle optimization procedure to establish the best load factors combinations for seismic design of buildings, is proposed. The expected cost of damage from future earthquakes within the life of the structure is estimated, and realistic cost functions are assumed. The functions include: Repair cost, cost of contents damage, cost associated with loss of life, cost of injuries and economic loss. The loads considered are dead, live and earthquake load. The study is performed for reinforced concrete buildings located in Mexico City. The buildings are modeled as multiple-degree-of-freedom frame structures. The parameter selected to measure the structural damage is the maximum inter-story drift. The structural models are subjected to 31 soft-soil ground motions recorded in the Lake Zone of Mexico City. In order to obtain the annual structural failure rates, a numerical integration method is applied.

Keywords: load factors, life-cycle analysis, seismic design, reinforced concrete buildings

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Authors: Kenichiro Hida, Shin-Ichi Kuribayashi

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NFV-based network implements a variety of network functions with software on general-purpose servers, and this allows the network operator to select any capabilities and locations of network functions without any physical constraints. In this paper, we evaluate the influence of the maximum tolerable network delay on the virtual routing function deployment guidelines which the authors proposed previously. Our evaluation results have revealed the following: (1) the more the maximum tolerable network delay condition becomes severe, the more the number of areas where the route selection function is installed increases and the total network cost increases, (2) the higher the routing function cost relative to the circuit bandwidth cost, the increase ratio of total network cost becomes larger according to the maximum tolerable network delay condition.

Keywords: NFV (Network Functions Virtualization), resource allocation, virtual routing function, minimum total network cost

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Authors: Mariana Volpini, Volker Bartenbach, Marcos Pinotti, Robert Riener

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Restoration of gait ability is an important task in the rehabilitation of people with neurological disorders presenting a great impact in the quality of life of an individual. Based on the motor learning concept, robotic assisted treadmill training has been introduced and found to be a feasible and promising therapeutic option in neurological rehabilitation but unfortunately it is not available for most patients in developing countries due to the high cost. This paper presents the concept of a low cost rehabilitation robot to help consolidate the robotic-assisted gait training as a reality in clinical practice in most countries. This work indicates that it is possible to build a simpler rehabilitation device respecting the physiological trajectory of the ankle.

Keywords: bioengineering, gait therapy, low cost rehabilitation robot, rehabilitation robotics

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Authors: M. S. Turan, Dimple

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Due to implementation of IFRS by several developed and developing countries, India has no option other than to converge their accounting standards with IFRS. There are over 10,000 listed companies required to implement IFRS in India. IFRS based financial information presented by a company is different from the same information provided by Indian GAAPs. In this study, we have brought out and analyzed the effect of IFRS reporting on the financial statements of selected companies. The results reveal that convergence with IFRS brought prominent positive variations in the values of quick ratio, debt/equity ratio, proprietary ratio and net profit ratio, while negative variation is brought in the values of current ratio, debt to total assets ratio, operating profit ratio, return on capital employed and return on shareholders’ equity ratios. It also presents significant changes in the values of items of balance sheet, profit and loss account and cash flow statement.

Keywords: IFRS, reporting standards, convergence process, results

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Authors: Klaudia Krogulec

Abstract:

The concept and the meaning of safety is largely undermined in International and EU refugee law. While the Geneva Convention 1951 concentrates mainly on the principle of non-refoulment (no-return) and the idea of physical safety of refugees, countries continue to implement harmful readmission agreements that presume ‘safe countries’ for the hosting and return of the refugees. This research intends to use discourse analysis of the legal provisions and interviews with Syrian refugees, NGO workers, and refugee lawyers in Tukey to understand what ‘safety’ actually means and how law shapes the experiences of Syrians in Turkey (the country that hosts the largest population of Syrians and is a key partner of the EU-Turkey Agreement 2016). The preliminary findings reveal the competing meanings of safety (rights-based vs state interests approach). As the refugee policies continue to prioritize state interests/safety over human safety and human rights, it is extremely important to provide recommendations on how ‘safety’ should be defined in the refugee law in the future.

Keywords: human rights law, refugee law, human safety, EU-turkey agreement

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Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

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Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.

Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators

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Authors: A. B. Arani, R. Shojaee

Abstract:

Electrical power distribution system is one of the vital infrastructures of an oil refinery, which requires wide area of study and planning before construction. In this paper, power distribution reliability of Tehran Refinery’s KHDS/GHDS unit has been taken into consideration to investigate the importance of these kinds of studies and evaluate the designed system. In this regard, the authors chose and evaluated different configurations of electrical power distribution along with the existing configuration with the aim of finding the most suited configuration which satisfies the conditions of minimum cost of electrical system construction, minimum cost imposed by loss of load, and maximum power system reliability.

Keywords: power distribution system, oil refinery, reliability, investment cost, interruption cost

Procedia PDF Downloads 843

Authors: Nesreddine Djafar Henni, Nassim Djedoui, Rachid Chebili

Abstract:

Recent decades have witnessed significant efforts being made to optimize different types of structures and components. The concept of cost optimization in reinforced concrete structures, which aims at minimizing financial resources while ensuring maximum building safety, comprises multiple materials, and the objective function for their optimal design is derived from the construction cost of the steel as well as concrete that significantly contribute to the overall weight of reinforced concrete (RC) structures. To achieve this objective, this work has been devoted to optimizing the structural design of 3D RC frame buildings which integrates, for the first time, the Algerian regulations. Three different test examples were investigated to assess the efficiency of our work in optimizing RC frame buildings. The hybrid GWOPSO algorithm is used, and 30000 generations are made. The cost of the building is reduced by iteration each time. Concrete and reinforcement bars are used in the building cost. As a result, the cost of a reinforced concrete structure is reduced by 30% compared with the initial design. This result means that the 3D cost-design optimization of the framed structure is successfully achieved.

Keywords: optimization, automation, API, Malab, RC structures

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Authors: S. Burgalat, L. Teilhac, A. Brand, E. Chastel, M. Jumeline

Abstract:

The paper presents actual benefits and drawbacks of a multidirectional autonomous hovercraft conceived with limited resources and designed for indoor exploration. Recent developments in the field have led to the apparition of very powerful automotive systems capable of very high calculation and exploration in complex unknown environments. They usually propose very complex algorithms, high precision/cost sensors and sometimes have heavy calculation consumption with complex data fusion. These systems are usually powerful but have a certain price, and the benefits may not be worth the cost, especially considering their hardware limitations and their power consumption. The present approach is to build a compromise between cost, power consumption and results preciseness.

Keywords: hovercraft, indoor exploration, autonomous, multidirectional, wireless control

Procedia PDF Downloads 252

Authors: Shannon Hearney, Jeffrey Hoch

Abstract:

Pancreatic cancer is a notoriously costly and deadly form of cancer. Many types of treatment centers exist for patients to seek care from, including high-volume centers which have shown promise to provide the highest quality of care. While it may be true that this type of center provides the best care it is unclear if that care is cost-effective. Studies in the US have confirmed that high-volume hospitals do provide higher quality of care but have shown inconsistencies in the cost-effectiveness of that care. Other studies, like those from Finland have shown that high-volume centers had lower mortality and lower costs than low-volume centers. This paper thus seeks to review the current scientific literature to better understand if high-volume centers are cost-effective in delivering care in both a European setting and in the US. A review of major reference databases such as Medline, Embase and PubMed will be conducted for cost-effectiveness studies on the surgical treatment of pancreatic cancer at high-volume centers. Possible MeSH terms to be included, but not limited to, are: “pancreatic cancer”, “cost analysis”, “cost-effectiveness”, “economic evaluation”, “pancreatic neoplasms”, “surgical”, and “high-volume”. Studies must also have been available in the English language. This review will encompass European scientific literature, as well as those in the US. Based on our preliminary findings, we anticipate high-volume hospitals to provide better care at greater costs. We anticipate that high-volume hospitals may be cost-effective in different contexts depending on the national structure of a healthcare system. Countries with more centralized and socialized healthcare may yield results that are more cost-effective. High-volume centers may differ in their cost-effectiveness of the surgical care of pancreatic cancer internationally especially when comparing those in the United States to others throughout Europe.

Keywords: cost-effectiveness analysis, economic evaluation, pancreatic cancer, scientific literature review

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