Search results for: fixed income securities

Authors: S. O. Obasa, J. A. Soaga, O. I. Afolabi, N. A. Bamidele, O. E. Babalola

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Attempt to improve the income of the rural population is a welcome development in Nigeria. Integrated fish-crop farming has been suggested as a means of raising farm income, reducing wastage and mitigating the risk component in production through the complementarity gain. A feeding trial was carried out to investigate the replacement of maize with fermented unripe plantain (Musa paradisiaca) peel meal in the diet of Nile tilapia, Oreochromis niloticus. The economics of the integrated enterprise was assessed using budgetary analysis techniques. The analysis incorporated the material and labour costs as well as the returns from sale of matured fish and plantain. A total of 60 fingerlings of Nile tilapia (1.70±0.1 g) were stocked at 10 per plastic tank. Two iso-nitrogenous diets containing 35% crude protein in which maize meal was replaced by fermented unripe plantain peel meal at 0% (FUP0/Control diet), and 100% (FUP100) were formulated and prepared. The fingerlings were fed at 5% body weight per day for 56 days. Lowest feed conversion ratio of 1.39 in fish fed diet FUP100 was not significantly different (P > 0.05) from the highest 1.42 of fish fed the Control diet. The highest percentage profit of 88.85% in fish fed diet FUP100 was significantly higher than 66.68% in fish fed diet FUP0, while the profit index of 1.89 in fish fed diet FUP100 was significantly different from 1.67 in fish fed diet FUP0. Therefore, fermented unripe plantain peel meal can completely replace maize in the diet of O. niloticus fingerlings. Profitability assessment shows that the net income from the integration was ₦ 463,000 per hectare and the integration resulted to an increase of ₦ 87,750.00 representing a 12.2% increase than in separate production.

Keywords: fish-crop, income, Nile tilapia, waste management

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Authors: Mkhokheli Sithole, Brenda N. Muchapondwa

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Food security is becoming a critical issue for people residing mainly in the rural areas where frequent droughts interrupt food production, reduce income, compromise the ability to save and erode livelihoods. This tends to increase the vulnerability of poor households to food and income insecurity, hence, malnutrition. There is an emerging need for DRR strategies to complement the existing rain fed crop production based livelihoods. One of such strategies employed by the community of Nerumedzo in Bikita district is the harvesting of Encosternum delegorguei insect. This article analyses the livelihood impacts of Encosternum delegorguei insect as a DRR strategy. The research used a combination of qualitative and quantitative approaches. The insect samples were tested in the laboratory for their nutritional composition while surveys were done on a sample of 40 community members. Participatory observations and 5 focus group discussions were also done. The results revealed that harvesting the Encosternum delegorguei insects provides a livelihood for the locals by complementing crop production thereby mitigating potential negative effects of frequent droughts. The insects are now a significant source of income to poor households in the community.

Keywords: disaster risk reduction, livelihoods, human, social sciences

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Authors: S. Vivekananda Pandian

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A major challenging task in this current scenario is protecting your computer and other electronic gadgets against Cyber-attacks. In this current era Cyber warfare becomes a major threat to the entire world which targets a particular organization or a country spreading the Malwares, Breaching the securities, causing major loss to the organization. Several sectors both public and private are computerized such as Energy sectors, Oil refinery sectors, Defense sectors and Aviation sectors are prone to attacks. Several attacks are unknown while accessing the internet. To study the characteristics and Intention of the Attacker Kippo Honeypots are used. Honeypots are the trap set by us which enables them to monitor the malicious activities and detailed study about attackers which leads to strengthening of the security.

Keywords: attackers, security, Kippo Honeypots, virtual machine

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Authors: Krishna Prasad Sharma

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Nepal’s financial sector has become deeper and wider, and the number and types of financial intermediaries have grown rapidly over the past two decades. However, access to financial services remains limited for many people in many parts of rural Nepal. While financial institutions have been expanding rapidly in an urban area in recent years, the access to the rural poor is excessively inadequate due to financial illiteracy and limited numbers of financial institutions that confined only to the district headquarters. Based on the focus group discussion, semi-structured interview of key people and literature review, this paper aims to examine the supply of and demand for financial services in Nepal and the constraints to increasing access to them, and offers way forward for making the financial sector work for all of Nepal’s people, especially the rural poor. While Nepal’s government has tried to increase access to formal financial services for small businesses and low-income households through directed lending programs for small businesses and low-income households, created specialized wholesale and retail institutions, and lowered market entry requirements, formal financial services are declining, and financial intermediation is stagnating. Supply and demand indicators show that, despite government efforts, formal financial institutions do not serve the needs of most of the Nepalese population. While access to and use of formal financial services are limited, in general, the problem is acute for small businesses and low-income households. Indeed, both access and use are closely correlated with business loan size and household income. This study concludes that banks and microfinance institutions with the use of mobile phones can connect hundreds of millions of unbanked and low-income people, especially rural poor to financial services at low costs. While there are many challenges ahead in expanding the service to rural areas, the mobile financial services will be beneficial that makes payments faster and cheaper, more convenient and accessible to a greater number of senders and recipients in rural areas. In rural areas, clients will benefit from money transfer and other mobile and online services.

Keywords: financial inclusion, financial enabling environment, microfinance, branchless banking, rural poor

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Authors: Muslim Malik, Avadhesh Kumar

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A stronger concept of exact controllability which is called Total Controllability is introduced in this manuscript. Sufficient conditions have been established for the total controllability of a control problem, governed by second order nonlinear differential equation with delay and non-instantaneous impulses in a Banach space X. The results are obtained using the strongly continuous cosine family and Banach fixed point theorem. Also, the total controllability of an integrodifferential problem is investigated. At the end, some numerical examples are provided to illustrate the analytical findings.

Keywords: Banach fixed point theorem, non-instantaneous impulses, strongly continuous cosine family, total controllability

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Authors: Ibrahim Ali, Adamu Danlami Ahmed

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This study examines the impact of depreciation on taxable income and financial performance of consumer goods companies quoted on the Nigerian stock exchange. The study adopts ex-post factor research design. Data were collected using a secondary source. The findings of the study suggest that, method of depreciation adopted in any organization influence the taxable profit. Depreciation techniques can either be: depressive, accelerative and linear depreciation. It was also recommended that consumer goods should adjust their method of depreciation to make sure an appropriate method is adopted. This will go a long way to revitalize their taxable profit.

Keywords: accelerated, linear, depressive, depreciation

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Authors: Yacine Arioua

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In this paper, we investigate the existence and uniqueness of solutions for a coupled system of nonlinear Caputo-type Katugampola fractional differential equations with integral boundary conditions. Based upon a contraction mapping principle, Schauders fixed point theorems, some new existence and uniqueness results of solutions for the given problems are obtained. For application, some examples are given to illustrate the usefulness of our main results.

Keywords: fractional differential equations, coupled system, Caputo-Katugampola derivative, fixed point theorems, existence, uniqueness

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Authors: Charles Amoo, Joshua New, Bill Eckman

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Buildings in the United States account for a significant proportion of energy consumption and greenhouse gas (GHG) emissions, and this trend is expected to continue as well as rise in the near future. Low-income households, in particular, bear a disproportionate burden of high building energy consumption and spending due to high energy costs. Energy efficiency improvements need to reach an average of 4% per year in this decade in order to meet global net zero emissions target by 2050, but less than 1 % of U.S. buildings are improved each year. The government has recognized the importance of technology in addressing this issue, and energy efficiency programs have been developed to tackle the problem. The Weatherization Assistance Program (WAP), the largest residential whole-house energy efficiency program in the U.S., is specifically designed to reduce energy costs for low-income households. Under the WAP, energy auditors must follow specific audit procedures and use Department of Energy (DOE) approved energy audit tools or software. This article proposes an expanded framework of factors that should be considered in energy audit software that is approved for use in energy efficiency programs, particularly for low-income households. The framework includes more than 50 factors organized under 14 assessment criteria and can be used to qualitatively and quantitatively score different energy audit software to determine their suitability for specific energy efficiency programs. While the tool can be useful for developers to build new tools and improve existing software, as well as for energy efficiency program administrators to approve or certify tools for use, there are limitations to the model, such as the lack of flexibility that allows continuous scoring to accommodate variability and subjectivity. These limitations can be addressed by using aggregate scores of each criterion as weights that could be combined with value function and direct rating scores in a multicriteria decision analysis for a more flexible scoring.

Keywords: buildings, energy efficiency, energy audit, software

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Authors: S. Padmapriya, V. Lakshmi Prabha

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In this paper, an efficient reconfigurable fixed-point Least Mean Square Adaptive FIR filter is proposed. The proposed architecture has two methods of operation: one is area efficient design and the other is optimized power. Pipelining of the adder blocks and partial product generator are used to achieve low area and reversible logic is used to obtain low power design. Depending upon the input samples and filter coefficients, one of the techniques is chosen. Least-Mean-Square adaptation is performed to update the weights. The architecture is coded using Verilog and synthesized in cadence encounter 0.18μm technology. The synthesized results show that the area reduction ratio of the proposed when compared with conventional technique is about 1.2%.

Keywords: adaptive filter, carry select adder, least mean square algorithm, reversible logic

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Authors: Kevin Wongleedee

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The objective of this research was to study the level of importance of motivation factors from the perspective of international tourist who visited Bangkok, Thailand. The independent variables included gender, age, levels of education, occupation, and income while the dependent variables were ten motivation factors. A simple random sampling method was utilized to get 200 respondents. The majority of respondents were both male and female in almost the same proportion and most were between 21-40 years old. Most were married and had a graduate degree. The average income of the respondents was between $30,000-50,000. The findings revealed the ranking levels of importance by highest mean to lowest mean as follows: Thai food, nature-beaches, spa, tradition markets, shopping places, museums, festivals, night entertainment, conference/expo, and visiting friends. In addition, the overall means is 4.11 with 0.812 SD.

Keywords: international tourist, motivation, revisit, Thailand

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Authors: Jibril Mohammed, Usman Dadum Hamza, Muhammad Idris Misau, Baba Yahya Danjuma, Yusuf Bode Raji, Abdulsalam Surajudeen

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Volatile organic compounds (VOCs) have been reported to be responsible for many acute and chronic health effects and environmental degradations such as global warming. In this study, a renewable and low-cost coconut shell activated carbon (PHAC) was synthesized and treated with ammonia (PHAC-AM) to improve its hydrophobicity and affinity towards VOCs. Removal efficiencies and adsorption capacities of the ammonia treated activated carbon (PHAC-AM) for benzene and toluene were carried out through batch and fixed-bed studies respectively. Langmuir, Freundlich and Tempkin adsorption isotherms were tested for the adsorption process and the experimental data were best fitted by Langmuir model and least fitted by Tempkin model; the favourability and suitability of fitness were validated by equilibrium parameter (RL) and the root square mean deviation (RSMD). Judging by the deviation of the predicted values from the experimental values, pseudo-second-order kinetic model best described the adsorption kinetics than the pseudo-first-order kinetic model for the two VOCs on PHAC and PHAC-AM. In the fixed-bed study, the effect of initial VOC concentration, bed height and flow rate on benzene and toluene adsorption were studied. The highest bed capacities of 77.30 and 69.40 mg/g were recorded for benzene and toluene respectively; at 250 mg/l initial VOC concentration, 2.5 cm bed height and 4.5 ml/min flow rate. The results of this study revealed that ammonia treated activate carbon (PHAC-AM) is a sustainable adsorbent for treatment of VOCs in polluted waters.

Keywords: volatile organic compounds, equilibrium and kinetics studies, batch and fixed bed study, bio-based activated carbon

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Authors: Yongqi Dong, Zuo Zhang, Rui Fu, Li Li

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The records generated by taxicabs which are equipped with GPS devices is of vital importance for studying human mobility behavior, however, here we are focusing on taxi drivers' operation strategies between workdays and weekends temporally and spatially. We identify a group of valuable characteristics through large scale drivers' behavior in a complex metropolis environment. Based on the daily operations of 31,000 taxi drivers in New York City, we classify drivers into top, ordinary and low-income groups according to their monthly working load, daily income, daily ranking and the variance of the daily rank. Then, we apply big data analysis and visualization methods to compare the different characteristics among top, ordinary and low income drivers in selecting of working time, working area as well as strategies between workdays and weekends. The results verify that top drivers do have special operation tactics to help themselves serve more passengers, travel faster thus make more money per unit time. This research provides new possibilities for fully utilizing the information obtained from urban taxicab data for estimating human behavior, which is not only very useful for individual taxicab driver but also to those policy-makers in city authorities.

Keywords: big data, operation strategies, comparison, revenue, temporal, spatial

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Authors: V. Khosravi, F. D. Ardejani, A. Aryafar, M. Sedighi

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Heavy metals have a damaging impact for the environment, animals and humans due to their extreme toxicity and removing them from wastewaters is a very important and interesting task in the field of water pollution control. Biosorption is a relatively new method for treatment of wastewaters and recovery of heavy metals. In this study, a continuous fixed bed study was carried out by using Bacillus thuringiensis as a biosorbent for the removal of Cu and Mn ions from Sarcheshmeh Acid Mine Drainage (AMD). The effect of operating parameters such as flow rate and bed height on the sorption characteristics of B. thuringiensis was investigated at pH 6.0 for each metal ion. The experimental results showed that the breakthrough time decreased with increasing flow rate and decreasing bed height. The data also indicated that the equilibrium uptake of both metals increased with decreasing flow rate and increasing bed height. BDST, Thomas, and Yoon–Nelson models were applied to experimental data to predict the breakthrough curves. All models were found suitable for describing the whole dynamic behavior of the column with respect to flow rate and bed height. In order to regenerate the adsorbent, an elution step was carried out with 1 M HCl and five adsorption-desorption cycles were carried out in continuous manner.

Keywords: acid mine drainage, bacillus thuringiensis, biosorption, cu and mn ions, fixed bed

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Authors: Dijan Supramono, Eny Kusrini, Haisya Yuana

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Pyrolysis, a thermal cracking process in inert environment, may be used to produce bio-oil from biomass and plastic waste thus accommodating the use of renewable energy. Abundant amount of biomass waste in Indonesia are not utilised and plastic wastes are not well processed for clean environment. The aim of present work was to evaluate effect of mass ratio of plastic material to biomass in the feed blend of corn cobs and high density polyethylene (HDPE) of co-pyrolysis on bio-oil yield and chemical composition of bio-oil products. The heating rate of the co-pyrolysis was kept low and residence time was in the order of seconds to accommodate high yield of oil originating from plastic pyrolysis. Corn cobs have high cellulose and hemicellulose content (84%) which is potential to produce bio-oil. The pyrolysis was conducted in a laboratory-scale using a fixed bed reactor with final temperature of 500°C, heating rate 5 °C/min, flow rate N2 750 mL/min, total weight of biomass and plastic material of 20 g, and hold time after peak temperature of 30 min. Set up of conditions of co-pyrolysis should lead to accommodating the production of oil originating from HDPE due to constraint of HDPE pyrolysis residence time. Mass ratio of plastics to biomass in the feed blend was varied 0:100, 25:75, 50:50, 75:25 and 100:0. It was found that by increasing HDPE content up to 100% in the feed blend, the yield of bio-oil at different mass ratios prescribed above were 28.05, 21.55, 14.55, 9.5, and 6.3wt%, respectively. Therefore, in the fixed bed reactor, producing bio-oil is constrained by low contribution of plastic feedstock to the pyrolysis liquid yield. Furthermore, for the same variation of the mass ratio, yields of the mixture of paraffins, olefins and cycloalkanes contained in bio-oil were of 0, 28.35, 40.75, 47.17, and 67.05wt%, respectively. Olefins and cycloalkanes are easily hydrogenised to produce paraffins, suitable to be used as bio-fuel. By increasing composition of HDPE in the feed blend, viscosity and pH of bio-oil change approaching to those of commercial diesel oil.

Keywords: co-pyrolysis, corn cobs, fixed bed reactor, HDPE

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Authors: Fahad Alhussein, Huaping Liu

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This paper compares the multipath mitigation performance of code correlation reference waveform receivers with variable and fixed window width, for binary offset carrier and multiplexed binary offset carrier signals typically used in global navigation satellite systems. In the variable window width method, such width is iteratively reduced until the distortion on the discriminator with multipath is eliminated. This distortion is measured as the Euclidean distance between the actual discriminator (obtained with the incoming signal), and the local discriminator (generated with a local copy of the signal). The variable window width have shown better performance compared to the fixed window width. In particular, the former yields zero error for all delays for the BOC and MBOC signals considered, while the latter gives rather large nonzero errors for small delays in all cases. Due to its computational simplicity, the variable window width method is perfectly suitable for implementation in low-cost receivers.

Keywords: correlation reference waveform receivers, binary offset carrier, multiplexed binary offset carrier, global navigation satellite systems

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Authors: Hamza Al-Hazmi, Tabrej Khan

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Obesity is today a global phenomenon that affects all countries, all types of societies regardless of age, sex, and income. The average value of the relative body mass index (BMI) has increased, which indicates an increasing obesity problem in the population. Nowadays obesity is a global problem, and mass production of clothes is standard size. People have a problem to find best-fitted clothes. The goal of the project is to develop an E-Commerce web portal as a new, innovative and customize clothing production system for obese people. This research has a long-term objective and short-term objective. The long-term objectives are (1) utilize online Web portal to improve tailors’ income, and (2) provide a free online platform to the tailors and customers in order to stitch clothes. Then, the short-term objective are (1) identify e-commerce’s requirements, (2) analyze and design the e-commerce application, and (3) build and implement the e-commerce application to Customized Clothes for Overweight people. This application can hopefully improve the tailors’ income and provide an easy way for customers to choose a fabric, apply style and provide measurement. This e-commerce application is not limited to obese or overweight people but also for other people who want to stitch cloth from tailors. MySQL and PHP we are going to use for developing the application.

Keywords: e-commerce, obesity, PHP, customize clothes

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Authors: Anna Carolina De Paula Sermarini, Rodrigo Flora Calili

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Energy Efficiency (EE) needs investments, new technologies, greater awareness and management on the side of citizens and organizations, and more planning. However, this issue is usually remembered and discussed only in moments of energy crises, and opportunities are missed to take better advantage of the potential of EE in the various sectors of the economy. In addition, there is little concern about the subject among the less favored classes, especially in low-income communities. Accordingly, this article presents suggestions for public policies that aim to increase EE for low-income housing and communities based on international and national experiences. After reviewing the literature, eight policies were listed, and to evaluate them; a multicriteria decision model was developed using the AHP (Analytical Hierarchy Process) and TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) methods, combined with fuzzy logic. Nine experts analyzed the policies according to 9 criteria: economic impact, social impact, environmental impact, previous experience, the difficulty of implementation, possibility/ease of monitoring and evaluating the policies, expected impact, political risks, and public governance and sustainability of the sector. The results found in order of preference are (i) Incentive program for equipment replacement; (ii) Community awareness program; (iii) EE Program with a greater focus on low income; (iv) Staggered and compulsory certification of social interest buildings; (v) Programs for the expansion of smart metering, energy monitoring and digitalization; (vi) Financing program for construction and retrofitting of houses with the emphasis on EE; (vii) Income tax deduction for investment in EE projects in low-income households made by companies; (viii) White certificates of energy for low-income. First, the policy of equipment substitution has been employed in Brazil and the world and has proven effective in promoting EE. For implementation, efforts are needed from the federal and state governments, which can encourage companies to reduce prices, and provide some type of aid for the purchase of such equipment. In second place is the community awareness program, promoting socio-educational actions on EE concepts and with energy conservation tips. This policy is simple to implement and has already been used by many distribution utilities in Brazil. It can be carried out through bids defined by the government in specific areas, being executed by third sector companies with public and private resources. Third on the list is the proposal to continue the Energy Efficiency Program (which obliges electric energy companies to allocate resources for research in the area) by suggesting the return of the mandatory investment of 60% of the resources in projects for low income. It is also relatively simple to implement, requiring efforts by the federal government to make it mandatory, and on the part of the distributors, compliance is needed. The success of the suggestions depends on changes in the established rules and efforts from the interested parties. For future work, we suggest the development of pilot projects in low-income communities in Brazil and the application of other multicriteria decision support methods to compare the results obtained in this study.

Keywords: energy efficiency, low-income community, public policy, multicriteria decision making

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Authors: Mazlynda Md Yusuf, Wafa' Mahadzir, Mohamad Yazis Ali Basah

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Nowadays, financing long-term care for elderly people is a crucial issue, either towards the family members or the care institution. Corresponding with the growing number of ageing population in Malaysia, there’s a need of concern on the uncertaintiness of future family care and the need for long-term care services. Moreover, with the increasing cost of living, children feels the urge of needing to work and receive a fixed monthly income that results to sending their elderly parents to care institutions. Currently, in Malaysia, the rates for private nursing homes can amount up to RM 4,000 per month excluding medical treatments and other recurring expenses. These costs are expected to be paid using their Employees Provident Fund (EPF) savings that they accumulate during their working years, especially for those working under private sectors. Hence, this study identifies the adequacy of EPF in funding the cost of long-term care service during old age. This study used a hypothetical simulation model to simulate different scenarios. The findings of this study could be used for individuals to prepare on the importance of planning for retirement, especially with the increasing cost of long-term care services.

Keywords: long-term care cost, employees provident fund Malaysia, ageing population, Malaysian elderly

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Authors: A.I. Adeyemo

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Ikogosi warm spring results from a complex mechanical and chemical forces that generates internal heat in the rocks forming a warm and cold water at the same geographical location at the same time. From time immemorial, the local community had thought, it to be the work of a deity, and they were worshipping the spring. This complex phenomenon has been a source of tourist attraction to both local and international tourists over the years. 450 copies of a structured questionnaire were given out, and a total of 500 respondents were interviewed. The result showed that ikogosi warm spring impacts the community positively by providing employment to the teeming youths, and it provides income to traders. The result shows that 66% of the respondents confirmed that it increased their income and that transportation business increased more than 73%.the level of enlightenment and socialization increased greatly in the community. However, it also impacted the community negatively as it increased crime rates such as stealing, kidnapping, prostitution, and unwanted pregnancy among the secondary school girls and the other teenagers. Generally, 50% of the respondents reported that tourism in the warm spring results in insecurity in the community. IT also increased environmental problems such as noise and waste pollutions; the continuous movement on the land results in soil compartment leading to erosion, and leaching, which also results in loss of soil fertility. It was concluded that if the potentials of the spring are fully tapped, it will be a good avenue for income generation to the country.

Keywords: community, Ikogosi, revenue, warm spring

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Authors: Vasiliki A. Tzora, Nikolaos D. Philippas

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The paper measures the financial literacy of youth in Greece derived from the examined aspects of financial knowledge, behaviours, and attitudes that high school students performed. The findings reveal that less than half of participant high school students have an acceptable level of financial literacy. Also, students who are in the top of their class cohort exhibit higher levels of financial literacy. We also find that the father’s education level has a significant effect on financial literacy. Students who keep records of their income and expenses are likely to show better levels of financial literacy than students who do not. Students’ perception/estimation of their parents’ income changes is also related to their levels of financial literacy. We conclude that financial education initiatives should be embedded in schools in order to embrace the young generation.

Keywords: financial literacy, financial knowledge, financial behaviour, financial attitude, financial wellbeing, 15-year-old students

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Authors: Hannah F. Opayinka, Adedayo A. Adepoju

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This study is an extension of a prior study on the modification of the existing m-out-of-n (moon) bootstrap method for heavy-tailed distributions in which modified m-out-of-n (mmoon) was proposed as an alternative method to the existing moon technique. In this study, both moon and mmoon techniques were applied to two real income datasets which followed Lognormal and Pareto distributions respectively with finite variances. The performances of these two techniques were compared using Standard Error (SE) and Root Mean Square Error (RMSE). The findings showed that mmoon outperformed moon bootstrap in terms of smaller SEs and RMSEs for all the sample sizes considered in the two datasets.

Keywords: Bootstrap, income data, lognormal distribution, Pareto distribution

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Authors: Yong-Heng Shi, Peng Hao, Bai-Chen Xie

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Solar prosumers are playing increasingly prominent roles in the power system. However, its uncertainty affects the outcomes and functions of the power market, especially in the asymmetric information environment. Therefore, an important issue is how to take effective measures to reduce the impact of uncertainty on market equilibrium. We propose a two-level stochastic differential game model to explore the Cournot decision problem of prosumers. In particular, we study the impact of punishment and cooperation mechanisms on the efficiency of the Cournot game in which prosumers face uncertainty. The results show that under the penalty mechanism of fixed and variable rates, producers and consumers tend to take conservative actions to hedge risks, and the variable rates mechanism is more reasonable. Compared with non-cooperative situations, prosumers can improve the efficiency of the game through cooperation, which we attribute to the superposition of market power and uncertainty reduction. In addition, the market environment of asymmetric information intensifies the role of uncertainty. It reduces social welfare but increases the income of prosumers. For regulators, promoting alliances is an effective measure to realize the integration, optimization, and stable grid connection of producers and consumers.

Keywords: Cournot games, power market, uncertainty, prosumer cooperation

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Authors: Bel Abed Ines Mariem

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Different stock markets keep changing their exchange structure for the only purpose of improving the functioning of their markets. This paper investigates the effects of the transfer from one trading category to another in the Tunisian Stock Exchange on market price and liquidity. The sample consists of 40 securities transferred from call auction to continuous auction and conversely during the period between 2004 and 2013. The methodology used is the event study. Empirical results show an interesting phenomenon observed; stocks transferred to the call system have experienced an improvement on their price and liquidity especially for less liquid ones. However, price and liquidity for stocks transferred from call system to continuous system have decreased.

Keywords: microstructure, call auction, continuous auction, price, liquidity and event study

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Authors: Amel Benhadji, Mourad Taleb Ahmed, Rachida Maachi

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The challenge for the new millennium is to develop an industrial system that has minimal socio-ecological impacts, without compromising quality of life. Leather industry is one of these industries demanding environmentally friendly products. In this study, we investigated the possibility of applying innovative low cost biological treatment using Pseudomonas aeruginosa. This strain tested the efficiency of the batch biological treatment in the recovery of protein and hexavalent chromium from chromium tanning bath. We have compared suspended and fixed bacteria culture. The results showed the removal of the total protein of treatment and a decrease of hexavalent chromium concentration is during the treatment. The better efficiency of the biological treatment is obtained when using fixed culture of P. aeruginosa.

Keywords: tanning wastewater, biological treatment, protein removal, hexavalent chromium

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Authors: Erwanda Nuryahya, Aas Nurasyiah, Sri Yayu Ninglasari

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Indonesia is the fourth most populous country that still has many troubles in its development. One of the problems which is very important and unresolved is poverty. Limited job opportunity is one unresolved cause of it until today. The purpose of making this scientific paper is to know benefits of E-Money Paytren Application to enhance its partners’ income, owned by company Veritra Sentosa International. The methodology used here is the quantitative and qualitative descriptive method by case study approach. The data used are primary and secondary data. The primary data is obtained from interviews and observation to company Veritra Sentosa International and the distribution of 400 questionnaires to Paytren partner. Secondary data is obtained from the literature study and documentary. The result is that the Paytren with a system direct sales tiered syariah proven able to enhance its partners’ income. Therefore, the Optimization Financial Technology through E-Money Paytren Application should be utilized by Indonesians because it is proven that it is able to increase the income of the partners. Therefore, Paytren Application is very useful for the government, the sharia financial industry, and society in reducing poverty in Indonesia.

Keywords: e-money PayTren application, financial technology, poverty, direct sales tiered Sharia

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Authors: A. Maruf Aytekin

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We present our approach on using continuous delivery pattern for release management. One of the key practices of agile and lean teams is the continuous delivery of new features to stakeholders. The main benefits of this approach lie in the ability to release new applications rapidly which has real strategic impact on the competitive advantage of an organization. Organizations that successfully implement Continuous Delivery have the ability to evolve rapidly to support innovation, provide stable and reliable software in more efficient ways, decrease the amount of resources need for maintenance, and lower the software delivery time and costs. One of the objectives of this paper is to elaborate a case study where IT division of Central Securities Depository Institution (MKK) of Turkey apply Continuous Delivery pattern to improve release management process.

Keywords: automation, continuous delivery, deployment, release management

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Authors: Mohd Izmir Bin Yamin, Thomas Arthur Ward

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Past aerodynamic studies of flapping wing flight have shown that it has increased aerodynamic performances compared to fixed wing steady flight. One of the dominant mechanisms that is responsible for causing this phenomenon is a leading edge vortex, generated by the flapping motion of a flexible wing. Wind tunnel experiments were conducted to observe the aerodynamic profile of a flapping wing, by measuring the lift, drag and thrust. Analysis was done to explain how unsteady aerodynamics leads towards better power performances than a fixed wing flight. The information from this study can be used as a base line for designing future Bio-mimetic Micro Air Vehicles that are based on flying insect aerodynamic mechanisms.

Keywords: flapping wing flight, leading edge vortex, aerodynamics performances, wind tunnel test

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Authors: Jie Liu, Wei Wei, Chun-Ping Chang

Abstract:

Using a sample of 110 countries over the period 1984-2013, this paper examines the impacts of country risks on choosing a specific exchange rate regime (first by utilizing the Levy-Yeyati and Sturzenegger de facto classification and then robusting it by the IMF de jure measurement) relative to other regimes via the panel multinomial logit approach. Empirical findings are as follows. First, in the full samples case we provide evidence that government is more likely to implement a flexible regime, but less likely to adopt a fixed regime, under a low level of composite and financial risk. Second, we find that Eurozone countries are more likely to choose a fixed exchange rate regime with a decrease in the level of country risk and favor a flexible regime in response to a shock from an increase of risk, which is opposite to non-Eurozone countries. Third, we note that high-risk countries are more likely to choose a fixed regime with a low level of composite and political risk in the government, but do not adjust the exchange rate regime as a shock absorber when facing economic and financial risks. It is interesting to see that those countries with relatively low risk display almost opposite results versus high-risk economies. Overall, we believe that it is critically important to account for political economy variables in a government’s exchange rate policy decisions, especially for country risks. All results are robust to the panel ordered probit model.

Keywords: country risk, political economy, exchange rate regimes, shock absorber

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Authors: N. M. Tawil, A. R. Musa, A. I Che-Ani, H. Basri

Abstract:

It is known that rising of house prices recently has affected the home ownership, especially for the future. Hence to overcome the rose of housing prices, the self-build home or DIY concept is perceived as one of the solution. This concept is proposed to be implemented for the future housing design as a strategy in helping the government to provide affordable housing, especially for middle income group to own a landed housing property. This concept is expected to offer a lower housing price for middle-income buyers and provide an opportunity for buyers to design their dream’s home with the self-build home or 'Do It Yourself' (DIY) concept. In order to implement this concept as affordable housing for MIG, the public perceptions and acceptances on the self-build home/ DIY concept itself should be identified. To achieve this aim this study was conducted by using 2 method namely literature review and questionnaire survey. The questionnaire survey was distributed to 200 respondents randomly in Lembah Klang and were analysed through the SPSS program. The results show that respondents are very interested in buying a home that they can have with the appropriate size of the home. Average of them known about Do It Yourself (DIY) concept but none of respondent have implement this concept. Most of respondents were agreed that this DIY method suitable to be implemented in the housing industry in Malaysia and they were agreed that this concept can offer a cheaper housing price because the construction costs were reduced. Moreover by providing a basic home the owner can renovate their home according to their need and financial capability.

Keywords: affordable housing, Do It Yourself, self-Built home, perception, middle income group

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Authors: Chollawat Pookpienlert, Jintana Sanwong

Abstract:

An element a of a semigroup S is called left (right) regular if there exists x in S such that a=xa² (a=a²x) and said to be intra-regular if there exist u,v in such that a=ua²v. Let T(X) be the semigroup of all full transformations on a set X under the composition of maps. For a fixed nonempty subset Y of X, let Fix(X,Y)={α ™ T(X) : yα=y for all y ™ Y}, where yα is the image of y under α. Then Fix(X,Y) is a semigroup of full transformations on X which fix all elements in Y. Here, we characterize left regular, right regular and intra-regular elements of Fix(X,Y) which characterizations are shown as follows: For α ™ Fix(X,Y), (i) α is left regular if and only if Xα\Y = Xα²\Y, (ii) α is right regular if and only if πα = πα², (iii) α is intra-regular if and only if | Xα\Y | = | Xα²\Y | such that Xα = {xα : x ™ X} and πα = {xα⁻¹ : x ™ Xα} in which xα⁻¹ = {a ™ X : aα=x}. Moreover, those regularities are equivalent if Xα\Y is a finite set. In addition, we count the number of those elements of Fix(X,Y) when X is a finite set. Finally, we determine the maximal congruence ρ on Fix(X,Y) when X is finite and Y is a nonempty proper subset of X. If we let | X \Y | = n, then we obtain that ρ = (Fixn x Fixn) ∪ (H ε x H ε) where Fixn = {α ™ Fix(X,Y) : | Xα\Y | < n} and H ε is the group of units of Fix(X,Y). Furthermore, we show that the maximal congruence is unique.

Keywords: intra-regular, left regular, maximal congruence, right regular, transformation semigroup

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