Search results for: growing stock

Authors: Idowu Kemi Ruth, Adeyemo Adedayo Akinade, Iyanda Adegboyega Ibukun, Idowu Olubukola Precious Akinade

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Liveability and mortality rate is a germane aspect of product performance that cannot be overlooked in poultry production, while the disease is a major threat in the poultry industry which can cause a major loss for the farmer and a reduction in the total income generated from the stock. Therefore, efforts must be made to enhance the health status of chickens to reduce mortality. The study was conducted to investigate the effect of different biotic additives (prebiotic, probiotic and synbiotic ) on the performance of Noiler females at the growing phase (forty-nine days) till the point of the first egg across the biotic additive. A total of one hundred and twenty-eight female Noiler were used for the experiment. Experimental treatment consisted of prebiotic, probiotic, synbiotic and control at the inclusion rate of a gram into a kilogram of feed. Parameters measured are Feed intake, feed conversion ratio, the weight of the first egg, age of the first egg and livability. Data collected were subjected to a one-way analysis of variance. The result obtained revealed a better growth performance across the treatments than the control group with the least final weight at nineteen weeks of point of lay. Prebiotic treatment had the best age at first lay on day one hundred and thirty seven followed by other treatments on day one hundred and fifty four. However, the size of the eggs was not significantly influenced by the biotic additive. Hence, the experiment can be concluded that the inclusion of different biotic additives influenced the growth performance; likewise, the Prebiotic had a significant effect on the age of first laying in Noiler chicken, and livability was a hundred percent throughout the duration of the experiment.

Keywords: prebiotic, probiotic, synbiotic, noiler

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Authors: Rui Du

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This paper attempts to assess the impact of a major sporting event —the Super Bowl on the local economies. The identification strategy is to compare the winning and losing cities at the National Football League (NFL) conference finals under the assumption of similar pre-treatment trends. The stock market performances of companies headquartered in these cities are used to capture the sudden changes in local economic activities during a short time span. The exogenous variations in the football game outcome allow a straightforward difference-in-differences approach to identify the effect. This study finds that the post-event trends in winning and losing cities diverge despite the fact that both cities have economically and statistically similar pre-event trends. Empirical analysis provides suggestive evidence of a positive, significant local economic impact of conference final wins, possibly through city image enhancement. Further empirical evidence shows the presence of heterogeneous effects across industrial sectors, suggesting that city image enhancing the effect of the Super Bowl participation is empirically relevant for the changes in the composition of local industries. Also, this study also adopts a similar strategy to examine the local economic impact of Super Bowl successes, however, finds no statistically significant effect.

Keywords: Super Bowl Participation, local economies, city image enhancement, difference-in-differences, industrial sectors

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Authors: Smita Krishnan, Krittika Chandran, Chandra Mohan Sinnathambi

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Produced water and its treatment and management are growing challenges in all producing regions. This water is generally considered as a nonrevenue product, but it can have significant value in enhanced oil recovery techniques if it meets the required quality standards. There is also an interest in the beneficial uses of produced water for agricultural and industrial applications. Advanced Oxidation Process is a chemical technology that has been growing recently in the wastewater treatment industry, and it is highly recommended for non-easily removal of organic compounds. The efficiency of AOPs is compound specific, therefore, the optimization of each process should be done based on different aspects.

Keywords: advanced oxidation process, photochemical processes, degradation, organic contaminants

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Abdelmounaim Lahrech, Hajar Bousfiha

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This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets.

Keywords: equity market linkage, DCC GARCH, international portfolio diversification, Morocco, France

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Authors: Joana Mourão

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Transition to a low carbon economy requires changes in consumption and production patterns, including the improvement of existing buildings’ environmental performance. Urban rehabilitation is a top policy priority in Europe, creating an opportunity to increase this performance. However, urban rehabilitation comprises different typologies of interventions with distinct levels of consideration for cultural urban heritage values and for environmental values, thus with different impacts. Cities rely on both material and non-material forms of heritage that are deep-rooted and resilient. One of the most relevant parts of that urban heritage is the historical pre-industrial housing stock, with an extensive presence in many European cities, as Lisbon. This stock is rehabilitated and transformed at the framework of urban management and local governance traditions, as well as the framework of the global economy, and in that context, faces opportunities and threats that need evaluation and control. The scope of this article is to define methodological bases and research lines for the assessment of impacts that urban rehabilitation initiatives set on the vulnerable and historical pre-industrial urban housing stock, considering it as an environmental and cultural unreplaceable material value and resource. As a framework, this article reviews the concepts of urban regeneration, urban renewal, current buildings conservation and refurbishment, and energy refurbishment of buildings, seeking to define key typologies of urban rehabilitation that represent different approaches to the urban fabric, in terms of scope, actors, and priorities. Moreover, main types of interventions - basing on a case-study in a XVIII century neighborhood in Lisbon - are defined and analyzed in terms of the elements lost in each type of intervention, and relating those to urbanistic, architectonic and constructive values of urban heritage, as well as to environmental and energy efficiency. Further, the article overviews environmental cultural heritage assessment and life-cycle assessment tools, selecting relevant and feasible impact assessment criteria for urban buildings rehabilitation regulation, focusing on multi-level urban heritage integrity. Urbanistic, architectonic, constructive and energetic integrity are studied as criteria for impact assessment and specific indicators are proposed. The role of these criteria in sustainable urban management is discussed. Throughout this article, the key challenges for urban rehabilitation planning and management, concerning urban built heritage as a resource for sustainability, are discussed and clarified.

Keywords: urban rehabilitation, impact assessment criteria, buildings integrity, embodied energy

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Authors: Pietro Mortini, Marco Losa

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Objective: Resection of large lesions growing into the third ventricle remains a demanding surgery, sometimes at risk of severe post-operative complications. Transcallosal and transcortical routes were considered as approaches of choice to access the third ventricle, however neurological consequences like memory loss have been reported. We report clinical results of the previously described combined interhemispheric sub-commissural translaminaterminalis approach (CISTA) for the resection of large lesions located in the third ventricle. Methods: Authors conducted a retrospective analysis on 10 patients, who were operated through the CISTA, for the resection of lesions growing into the third ventricle. Results: Total resection was achieved in all cases. Cognitive worsening occurred only in one case. No perioperative deaths were recorded and, at last follow-up, all patients were alive. One year after surgery 80% of patients had an excellent outcome with a KPS 100 and Glasgow Outcome score (GOS) Conclusion: The CISTA represents a safe and effective alternative to transcallosal and transcortical routes to resect lesions growing into the third ventricle. It allows for a multiangle trajectory to access the third ventricle with a wide working area free from critical neurovascular structures, without any section of the corpus callosum, the anterior commissure and the fornix.

Keywords: craniopharingioma, surgery, sub-commissural translaminaterminalis approach (CISTA),

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Authors: Hailu Getnet

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This study focus on reverse innovation on performance outcomes across developed and subsistence markets context. The subsistence market consists two third of the world population and the largest international market. To date, it has been neglected because of its issues of perceived challenges and seeming unattractiveness compared to the established markets in the west. However, subsistence markets are becoming source of reverse innovation; an innovation that is likely to be adopted first in developing world and successfully traded globally. In response, there is a growing interest on reverse innovation to power the future. Based on the theories of innovation and growing subsistence market literatures, the study propose drivers and outcomes of reverse innovation, a potential similarities and difference in benefiting and challenging firms and consumers in subsistence and developed markets.

Keywords: reverse innovation, subsistence market, developing world, developed market

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Authors: T. Elrazaz

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This paper examines accrual and real earnings management by publicly listed targets around mergers and acquisitions. Prior literature shows that earnings management around mergers and acquisitions can have a significant economic impact because of the associated wealth transfers among stakeholders. More importantly, acting on behalf of their shareholders or pursuing their self-interests, managers of both targets and acquirers may be equally motivated to manipulate earnings prior to an acquisition to generate higher gains for their shareholders or themselves. Building on the grounds of information asymmetry, agency conflicts, stewardship theory, and the revelation principle, this study addresses the question of whether takeover targets employ accrual and real earnings management in the periods prior to the announcement of Mergers and Acquisitions (M&A). Additionally, this study examines whether acquirers are able to detect targets’ earnings management, and in response, adjust the acquisition premium paid in order not to face the risk of overpayment. This study uses an aggregate accruals approach in estimating accrual earnings management as proxied by estimated abnormal accruals. Additionally, real earnings management is proxied for by employing widely used models in accounting and finance literature. The results of this study indicate that takeover targets manipulate their earnings using accruals in the second year with an earnings release prior to the announcement of the M&A. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals. These results are consistent with the argument that targets of cash-only or mixed-payment deals do not have the same strong motivations to manage their earnings as their stock-financed deals counterparts do additionally supporting the findings of prior studies that the method of payment in takeovers is value relevant. The findings of this study also indicate that takeover targets manipulate earnings upwards through cutting discretionary expenses the year prior to the acquisition while they do not do so by manipulating sales or production costs. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals, providing further robustness to the results derived under the accrual-based models. Finally, this study finds evidence suggesting that acquirers are fully aware of the accrual-based techniques employed by takeover targets and can unveil such manipulation practices. These results are robust to alternative accrual and real earnings management proxies, as well as controlling for the method of payment in the deal.

Keywords: accrual earnings management, acquisition premium, real earnings management, takeover targets

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Authors: He Li Wen, Meng Qing Xiang, Li De Yong, Zhang Ya Wei, Ren Li Ping

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Stress always exerts some extent adverse effects on the animal production, food safety and quality concerns. Stress is commonly-seen in livestock industry, but there is rare literature focusing on the effects of nutrition stress. What’s more, the research always concentrates on the effect of single stress additionally, there is scarce information about the stress effect on waterfowl like goose as they are commonly thought to be tolerant to stress. To our knowledge, it is not always true. The object of this study was to evaluate the response of growing Greylag geese offered different fiber sources to the comprehensive stress, primarily involving the procedures of fasting, transport, capture, etc. The birds were randomly selected to rear with the diets differing in fiber source, being corn straw silage (CSS), steam-exploded corn straw (SECS), steam-exploded wheat straw (SEWS), and steam-exploded rice straw (SERS), respectively. Blood samples designated for the determination of stress status were collected before (pre-stress ) and after (post-stress ) the stressors carried out. No difference (P>0.05) was found on the pre-stress blood parameters of growing Greylags fed alternative fiber sources. Irrespective of the dietary differences, the comprehensive stress decreased (P<0.01) the concentration of SOD and increased (P<0.01) that of CK. Between the dietary treatments, the birds fed CSS had a higher (P<0.05)post-stress concentration of MDA than those offered SECS, along with a similarity to those fed the other two fiber sources. There was no difference (P>0.05) found on the stress response of the birds fed different fiber sources. In conclusion, SOD and CK concentration in blood may be more sensitive in indicating stress status and dietary fiber source exerted no effect on the stress response of growing Greylags. There is little chance to improve the stress status by ingesting different fiber sources.

Keywords: blood parameter, fiber source, Greylag goose, stress

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Authors: Atia Alam

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Growing liberalisation and intense market competition increase firm’s risk exposure and induce corporations to use derivatives extensively as a risk management instrument, which results in decrease in firm’s risk, and increase in value. Present study contributes towards existing literature by providing an in-depth analysis regarding the effect of extent of derivative usage on firm’s risk and value by using panel data models and seemingly unrelated regression technique. New evidence is established in current literature by dividing the sample data based on firm’s Exchange Rate (ER) and Interest Rate (IR) exposure. Analysis is performed for the effect of extent of derivative usage on firm’s risk and value and its variation with respect to the ER and IR exposure. Sample data consists of 166 Pakistani firms listed on Pakistan stock exchange for the period of 2004-2010. Results show that extensive usage of derivative instruments significantly increases firm value and reduces firm’s risk. Furthermore, comprehensive analysis depicts that Pakistani corporations having higher exchange rate exposure, with respect to foreign sales, and higher interest rate exposure, on the basis of industry adjusted leverage, have higher firm value and lower risk. Findings from seemingly unrelated regression also provide robustness to results obtained through panel data analysis. Study also highlights the role of derivative usage as a risk management instrument in high and low ER and IR risk and helps practitioners in understanding how value increasing effect of extent of derivative usage varies with the intensity of firm’s risk exposure.

Keywords: extent of derivative usage, firm value, risk, Pakistan, non-financial firms

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Authors: Pawit Tangviroon, Apichit Svang-Ariyaskul

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As the limited availability of petroleum-based fuel has been a major concern, biodiesel is one of the most attractive alternative fuels because it is renewable and it also has advantages over the conventional petroleum-base diesel. At Present, productions of biodiesel generally perform by transesterification of vegetable oils with low molecular weight alcohol, mainly methanol, using chemical catalysts. Methanol is petrochemical product that makes biodiesel producing from methanol to be not pure renewable energy source. Therefore, ethanol as a product produced by fermentation processes. It appears as a potential feed stock that makes biodiesel to be pure renewable alternative fuel. The research is conducted based on two biodiesel production processes by reacting soybean oils with methanol and ethanol. Life cycle assessment was carried out in order to evaluate the environmental impacts and to identify the process alternative. Nine mid-point impact categories are investigated. The results indicate that better performance on Abiotic Depletion Potential (ADP) and Acidification Potential (AP) are observed in biodiesel production from methanol when compared with biodiesel production from ethanol due to less energy consumption during the production processes. Except for ADP and AP, using methanol as feed stock does not show any advantages over biodiesel from ethanol. The single score method is also included in this study in order to identify the best option between two processes of biodiesel production. The global normalization and weighting factor based on eco-taxes are used and it shows that producing biodiesel form ethanol has less environmental load compare to biodiesel from methanol.

Keywords: biodiesel, ethanol, life cycle assessment, methanol, soybean oil

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Authors: Ehsan Soleymaninejadian

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As the field of immunology is growing day by day, and its chaotic system amazes more people, greed of research in this area is growing; however dealing with human or mammalian cells such as mice make the research expensive. Although there are some differences between higher animals with insects, importance of innate immunity during evolution made it untouched. So, for understanding the innate immunity insects can be good models. They are cheap; reproduction is fast and in the case genetics, less complicated. In this review, we tried to briefly tackle with important factors in insects’ innate immunity such as melanization, encapsulation, JAK-STAT, IMD, and Toll pathways. At the end, we explained how hormones and nerve system also can impact on immune system and make it more beautiful. In concluding remarks, the possibility of taking help from insect immune system to fight against diseases such as cancer has been considered.

Keywords: insects, innate immunity, melanization, intracellular pathways, hormones

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Authors: Monika Lipska

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Drinking water is water with a very high quality, and as such represents only 2.5% of the total quantity of all water in the world. For many years we have observed continuous increase in its consumption as a result of many factors such as: Growing world population (7 billion in 2011r.), increase of human lives comfort and – above all – the economic growth. Due to the rocketing consumption and growing costs of production of water with such high-quality parameters, we experience accelerating interest in alternative sources of obtaining potable water. One of the ways of saving this valuable material is using rainwater in the Urban Building. With an exponentially growing demand, the acquisition of additional sources of water is necessary to maintain the proper balance of all ecosystems. The first part of the paper describes what rainwater is and what are its potential sources and means of use, while the main part of the article focuses on the description of the methods of obtaining water from rain on the example of new urban building in Poland. It describes the method and installations of rainwater in the new urban building (“MBJ2030”). The paper addresses also the issue of monitoring of the whole recycling systems as well as the particular quality indicators important because of identification of the potential risks to human health. The third part describes the legal arrangements concerning the recycling of rainwater existing in different European Union countries with particular reference to Poland on example the new urban building in Warsaw.

Keywords: rainwater, potable water, non-potable water, Poland

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Authors: Michelle D. Hand, Michelle L. Kaiser

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African refugees are among the fastest-growing populations in the United States and nearly half of these refugees come from Somalia, many of whom are Somali Bantus, the most marginalized group in Somali society. Yet limited research is available on Somali Bantu refugees. In this paper, Empowerment Theory is used to guide an in-depth exploration of the potential benefits of using community kitchen gardens to increase community food security among Somali Bantu refugees. In addition, recommendations for future research, policy and practice are offered following existing scholarly and grey source literature guidelines as informed by an Empowerment perspective to best meet the needs of this under-researched and underserved yet growing population.

Keywords: community kitchen gardens, food insecurity, refugees, Somali Bantu

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Authors: Changju Lee, Seungmo Ku, Sondo Kim, Woojin Chang

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How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk.

Keywords: financial bubble detection, future return, forecasting, pairs trading, preferred stocks

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Authors: Chiranjit Das, Sanjay Jharkharia

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This study is focused on transport mode selection under lead time variability and emissions constraint. In order to reduce the carbon emissions generation due to transportation, organization has often faced a dilemmatic choice of transport mode selection since logistic cost and emissions reduction are complementary with each other. Another important aspect of transportation decision is lead-time variability which is least considered in transport mode selection problem. Thus, in this study, we provide a comprehensive mathematical based analytical model to decide transport mode selection under emissions constraint. We also extend our work through analysing the effect of lead time variability in the transport mode selection by a sensitivity analysis. In order to account lead time variability into the model, two identically normally distributed random variables are incorporated in this study including unit lead time variability and lead time demand variability. Therefore, in this study, we are addressing following questions: How the decisions of transport mode selection will be affected by lead time variability? How lead time variability will impact on total supply chain cost under carbon emissions? To accomplish these objectives, a total transportation cost function is developed including unit purchasing cost, unit transportation cost, emissions cost, holding cost during lead time, and penalty cost for stock out due to lead time variability. A set of modes is available to transport each node, in this paper, we consider only four transport modes such as air, road, rail, and water. Transportation cost, distance, emissions level for each transport mode is considered as deterministic and static in this paper. Each mode is having different emissions level depending on the distance and product characteristics. Emissions cost is indirectly affected by the lead time variability if there is any switching of transport mode from lower emissions prone transport mode to higher emissions prone transport mode in order to reduce penalty cost. We provide a numerical analysis in order to study the effectiveness of the mathematical model. We found that chances of stock out during lead time will be higher due to the higher variability of lead time and lad time demand. Numerical results show that penalty cost of air transport mode is negative that means chances of stock out zero, but, having higher holding and emissions cost. Therefore, air transport mode is only selected when there is any emergency order to reduce penalty cost, otherwise, rail and road transport is the most preferred mode of transportation. Thus, this paper is contributing to the literature by a novel approach to decide transport mode under emissions cost and lead time variability. This model can be extended by studying the effect of lead time variability under some other strategic transportation issues such as modal split option, full truck load strategy, and demand consolidation strategy etc.

Keywords: carbon emissions, inventory theoretic model, lead time variability, transport mode selection

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Authors: Derya Yucel, Nigar Angın, Dürdane Mart, Meltem Turkeri, Volkan Catalkaya, Celal Yucel

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Chickpea (Cicer arietinum L.) with high protein content is a vital food, especially in under-developed and developing countries for the people who do not consume enough meat due to low-income level. The objective of the proposed study is to evaluate growing, yield and yield components of chickpea genotypes under Mediterranean condition so determine tolerance of chickpea genotypes against drought and heat stress. For this purpose, a total of 34 chickpea genotypes were used as material. The experiment was conducted according to factorial randomized complete block design with 3 reps at the Eastern Mediterranean Research Institute, Adana, TURKEY for 2014-15 growing season under three different growing conditions (Winter sowing, irrigated-late sowing and non-irrigated- late sowing). According to results of this experiment, vegetative period, flowering time, poding time, maturity time, plant height, height of first pod, seed yield and 100 seed weight were ranged between 68.33 to 78.77 days, 94.22 to 85.00 days, 94.11 to 106.44 days, 198.56 to 214.44 days, 37.18 to 64.89 cm, 18.33 to 34.83 cm, 417.1 to 1746.4 kg/ha and 14.02 to 45.02 g, respectively. Among the chickpea genotypes, the Aksu, Arda, Çakır, F4 09 (X 05 TH 21-16189), FLIP 03-108 were least affected by drought and heat stress. Therefore, these genotypes can be used as sources of drought and heat tolerance in further breeding programme for evolving the drought and heat tolerant genotypes in chickpea.

Keywords: chickpea, drought stress, heat stress, yield

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Authors: Khalid Alhudaib

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Potato is considered as one of the most important and potential vegetable crops in Saudi Arabia. Alfalfa mosaic virus (AMV), genus Alfamovirus, family Bromoviridae is among the broad spread of viruses in potato. During spring and fall growing seasons of potato in 2015 and 2016, several field visits were conducted in the four major growing areas of potato cultivation (Riyadh-Qaseem-Hail-Hard). The presence of AMV was detected in samples using ELISA, dot blot hybridization and/or RT-PCR. The highest occurrence of AMV was observed as 18.6% in Qaseem followed by Riyadh with 15.2% while; the lowest infection rates were recorded in Hard and Hail, 8.3 and 10.4%, respectively. The sequences of seven isolates of AMV obtained in this study were determined and the sequences were aligned with the other sequences available in the GenBank database. Analyses confirmed the low variability among AMV isolated in this study, which means that all AMV isolates may originate from the same source. Due to high incidence of AMV, other economic susceptible crops may become affected by high incidence of this virus in potato crops. This requires accurate examination of potato seed tubers to prevent the spread of the virus in Saudi Arabia. The obtained results indicated that the hybridization and ELISA are suitable techniques in the routine detection of AMV in a large number of samples while RT-PCR is more sensitive and essential for molecular characterization of AMV.

Keywords: Alfamovirus, AMV, Alfalfa mosaic virus, PCR, potato

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Authors: Muhammad Umair Shahid, Abdul Rehman, Mudassir Mukhtar, Muhammad Nauman

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The smart antenna is the prominent technology that has become known in recent years to meet the growing demands of wireless communications. In an overcrowded atmosphere, its application is growing gradually. A methodical evaluation of the performance of Fixed Beamforming algorithms for smart antennas such as Multiple Sidelobe Canceller (MSC), Maximum Signal-to-interference ratio (MSIR) and minimum variance (MVDR) has been comprehensively presented in this paper. Simulation results show that beamforming is helpful in providing optimized response towards desired directions. MVDR beamformer provides the most optimal solution.

Keywords: fixed weight beamforming, array pattern, signal to interference ratio, power efficiency, element spacing, array elements, optimum weight vector

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Authors: Radek Malinský, Ivan Jelínek

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The current web has become a modern encyclopedia, where people share their thoughts and ideas on various topics around them. Such kind of encyclopedia is very useful for other people who are looking for answers to their questions. However, with the growing popularity of social networking and blogging and ever expanding network services, there has also been a growing diversity of technologies along with different structure of individual websites. It is, therefore, difficult to directly find a relevant answer for a common Internet user. This paper presents a web application for the real-time end-to-end analysis of selected Internet trends; where the trend can be whatever the people post online. The application integrates fully configurable tools for data collection and analysis using selected webometric algorithms, and for its chronological visualization to user. It can be assumed that the application facilitates the users to evaluate the quality of various products that are mentioned online.

Keywords: Trend, visualizer, web analysis, web 2.0.

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Authors: Hadi Mousavi, Majid Davoudi Nasr

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Executives can maximize profits by recognizing the factors that affect investment and using them to obtain the optimal level of investment. Inefficient markets have shortcomings that can impact the optimal level of investment, leading to the process of over-investment or under-investment. In the present study, the relationship between the overconfidence of senior managers and abnormal cash fluctuations with respect to financial flexibility in companies listed in the Tehran stock exchange from 2009 to 2013 were evaluated. In this study, the sample consists of 84 companies selected by a systematic elimination method and 420 year-companies in total. In this research, EVIEWS software was used to test the research hypotheses by linear regression and correlation coefficient and after designing and testing the research hypothesis. After designing and testing research hypotheses that have been used to each hypothesis, it was concluded that there was a significant relationship between the overconfidence of senior managers and abnormal cash fluctuations, and this relationship was not significant at any level of financial flexibility. Moreover, the findings of the research showed that there was a significant relationship between senior manager’s overconfidence and positive abnormal cash flow fluctuations in firms, and this relationship is significant only at the level of companies with high financial flexibility. Finally, the results indicate that there is no significant relationship between senior managers 'overconfidence and negative cash flow abnormalities, and the relationship between senior managers' overconfidence and negative cash flow fluctuations at the level of companies with high financial flexibility was confirmed.

Keywords: abnormal cash fluctuations, overconfidence of senior managers, financial flexibility, accounting

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Authors: Wafula Simon Peter, Kimuli Nabayego Ibtihal, Nabaggala Kimuli Nashua

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The worldwide use of information and communications technology (ICT) equipment and other electronic equipment is growing and consequently, there is a growing amount of equipment that becomes waste after its time in use. This growth is expected to accelerate since equipment lifetime decreases with time and growing consumption. As a result, e-waste is one of the fastest-growing waste streams globally. The United Nations University (UNU) calculates in its second Global E-waste Monitor 44.7 million metric tonnes (Mt) of e-waste were generated globally in 2016. The study population was 80 respondents, from which a sample of 69 respondents was selected using simple and purposive sampling techniques. This research was carried out to investigate the problem of e-waste and come up with a framework to improve e-waste management. The objective of the study was to develop a framework for improving e-waste management at the College of Engineering, Design, Art and Technology (CEDAT). This was achieved by breaking it down into specific objectives, and these included the establishment of the policy and other Regulatory frameworks being used in e-waste management at CEDAT, the determination of the effectiveness of the e-waste management practices at CEDAT, the establishment of the critical challenges constraining e-waste management at the College, development of a framework for e-waste management. The study reviewed the e-waste regulatory framework used at the college and then collected data which was used to come up with a framework. The study also established that weak policy and regulatory framework, lack of proper infrastructure, improper disposal of e-waste and a general lack of awareness of the e-waste and the magnitude of the problem are the critical challenges of e-waste management. In conclusion, the policy and regulatory framework should be revised, localized and strengthened to contextually address the problem. Awareness campaigns, the development of proper infrastructure and extensive research to establish the volumes and magnitude of the problems will come in handy. The study recommends a framework for the improvement of e-waste.

Keywords: e-waste, treatment, disposal, computers, model, management policy and guidelines

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Authors: Ernest Nweke

Abstract:

Mongolia has made giant strides in the development of its auditing and accounting system from Soviet-style to a market-oriented system. High levels of domestic and foreign investment desired by the Mongolian government require that better and improved quality of corporate information and disclosure consistent with international standards be made available to investors. However, the Mongolian Certified Public Accountants (CPA) profession is still developing, and the quality of services provided by accounting firms in most cases do not comply with International Financial Reporting Standards (IFRS) framework approved by the government for use in financial reporting. Against this backdrop, Accounting and audit reforms, liberalization and deregulation, establishment of an efficient and effective professional monitoring and supervision regime are policy necessities. These will further enhance the Mongolian business environment, eliminate incompetence in the system, make the economy more attractive to investors and ultimately lift reporting standards and bring about improved accounting, auditing and disclosure practices among Mongolian firms. This paper examines the fundamental issues in the accounting and auditing environment in Mongolia and investigates the relationship between selected characteristics of Mongolian Stock Exchange (MSE) listed firms (profitability, leverage, firm size, firm auditor size, firm listing age, board size and proportion of independent directors) and voluntary accounting disclosures in their annual reports and accounts. The selected sample of firms for the research purpose consists of the top 20 indexes of the MSE, representing over 95% of the market capitalization. An empirical analysis of the hypothesized relationship was carried out using multiple regression in EViews analytical software. Research results lend credence to the fact that only a few of the company attributes positively impact voluntary accounting disclosures in Mongolian Stock Exchange-listed firms. The research is motivated by the absence of empirical evidence on the correlation between the quality of voluntary accounting disclosures made by listed companies in Mongolia and company characteristics and the findings thereof significantly useful to both firms and regulatory authorities. The concluding part of the paper precisely consists of useful research-based recommendations for listed firms and regulatory agencies on measures to put in place in order to enhance the quality of corporate financial reporting and disclosures in Mongolia.

Keywords: accounting, auditing, corporate disclosure, listed firms

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Authors: Jaballah Jamil

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KLD (Peter Kinder, Steve Lydenberg and Amy Domini) research & analytics is an independent intermediary of social performance information that adopts an investor-pay model. KLD rating agency does not have an explicit monitoring on the rated firm which suggests that KLD ratings may not include private informations. Moreover, the incapacity of KLD to predict accurately the extra-financial rating of Enron casts doubt on the reliability of KLD ratings. Therefore, we first investigate whether KLD ratings affect investors' perception by studying the effect of KLD rating changes on firms' financial performances. Second, we study the impact of the Enron scandal on investors' perception of KLD rating changes by comparing the effect of KLD rating changes on firms' financial performances before and after the failure of Enron. We propose an empirical study that relates a number of equally-weighted portfolios returns, excess stock returns and book-to-market ratio to different dimensions of KLD social responsibility ratings. We first find that over the last two decades KLD rating changes influence significantly and negatively stock returns and book-to-market ratio of rated firms. This finding suggests that a raise in corporate social responsibility rating lowers the firm's risk. Second, to assess the Enron scandal's effect on the perception of KLD ratings, we compare the effect of KLD rating changes before and after the Enron scandal. We find that after the Enron scandal this significant effect disappears. This finding supports the view that the Enron scandal annihilates the KLD's effect on Socially Responsible Investors. Therefore, our findings may question results of recent studies that use KLD ratings as a proxy for Corporate Social Responsibility behavior.

Keywords: KLD social rating agency, investors' perception, investment decision, financial performance

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Authors: Gen Sakoda, Hideki Takayasu, Misako Takayasu

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Waste reduction is a fundamental problem for sustainability. Methods for waste reduction with point-of-sales (POS) data are proposed, utilizing the knowledge of a recent econophysics study on a statistical property of POS data. Concretely, the non-stationary time series analysis method based on the Particle Filter is developed, which considers abnormal fluctuation scaling known as Taylor's law. This method is extended for handling incomplete sales data because of stock-outs by introducing maximum likelihood estimation for censored data. The way for optimal stock determination with pricing the cost of waste reduction is also proposed. This study focuses on the examination of the methods for large sales numbers where Taylor's law is obvious. Numerical analysis using aggregated POS data shows the effectiveness of the methods to reduce food waste maintaining a high profit for large sales numbers. Moreover, the way of pricing the cost of waste reduction reveals that a small profit loss realizes substantial waste reduction, especially in the case that the proportionality constant  of Taylor’s law is small. Specifically, around 1% profit loss realizes half disposal at =0.12, which is the actual  value of processed food items used in this research. The methods provide practical and effective solutions for waste reduction keeping a high profit, especially with large sales numbers.

Keywords: food waste reduction, particle filter, point-of-sales, sustainable development goals, Taylor's law, time series analysis

Procedia PDF Downloads 106

Authors: H. Derya Arslan

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Shopping centers have become an important part of urban life. The numbers of shopping centers have rapidly increased for ten years, in Turkey. Malls that have been built with increasing speed in the last two decades meet most social and cultural needs of people. In this study, architectural characteristics of a recent mall built in the city of Konya in Turkey have been discussed. The assessment of the mall in question has been made in the context of a growing and changing city. The study opened up new horizons and discussion areas to entrepreneurs who make significant investments in shopping centers, architects who design shopping centers as efficient commercial and social environments, and social scientists that investigate the effects of increase in these closed urban spaces on urban life.

Keywords: shopping center, architecture, city, social

Procedia PDF Downloads 317

Authors: Zahirah Dhurmeea, Iker Zudaire, Heidi Pethybridge, Emmanuel Chassot, Maria Cedras, Natacha Nikolic, Jerome Bourjea, Wendy West, Chandani Appadoo, Nathalie Bodin

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Scientific advice on the status of fish stocks relies on indicators that are based on strong assumptions on biological parameters such as condition, maturity and fecundity. Currently, information on the biology of albacore tuna, Thunnus alalunga, in the Indian Ocean is scarce. Consequently, many parameters used in stock assessment models for Indian Ocean albacore originate largely from other studied stocks or species of tuna. Inclusion of incorrect biological data in stock assessment models would lead to inappropriate estimates of stock status used by fisheries manager’s to establish future catch allowances. The reproductive biology of albacore tuna in the western Indian Ocean was examined through analysis of the sex ratio, spawning season, length-at-maturity (L50), spawning frequency, fecundity and fish condition. In addition, the total lipid content (TL) and lipid class composition in the gonads, liver and muscle tissues of female albacore during the reproductive cycle was investigated. A total of 923 female and 867 male albacore were sampled from 2013 to 2015. A bias in sex-ratio was found in favour of females with fork length (LF) <100 cm. Using histological analyses and gonadosomatic index, spawning was found to occur between 10°S and 30°S, mainly to the east of Madagascar from October to January. Large females contributed more to reproduction through their longer spawning period compared to small individuals. The L50 (mean ± standard error) of female albacore was estimated at 85.3 ± 0.7 cm LF at the vitellogenic 3 oocyte stage maturity threshold. Albacore spawn on average every 2.2 days within the spawning region and spawning months from November to January. Batch fecundity varied between 0.26 and 2.09 million eggs and the relative batch fecundity (mean  standard deviation) was estimated at 53.4 ± 23.2 oocytes g-1 of somatic-gutted weight. Depending on the maturity stage, TL in ovaries ranged from 7.5 to 577.8 mg g-1 of wet weight (ww) with different proportions of phospholipids (PL), wax esters (WE), triacylglycerol (TAG) and sterol (ST). The highest TL were observed in immature (mostly TAG and PL) and spawning capable ovaries (mostly PL, WE and TAG). Liver TL varied from 21.1 to 294.8 mg g-1 (ww) and acted as an energy (mainly TAG and PL) storage prior to reproduction when the lowest TL was observed. Muscle TL varied from 2.0 to 71.7 g-1 (ww) in mature females without a clear pattern between maturity stages, although higher values of up to 117.3 g-1 (ww) was found in immature females. TL results suggest that albacore could be viewed predominantly as a capital breeder relying mostly on lipids stored before the onset of reproduction and with little additional energy derived from feeding. This study is the first one to provide new information on the reproductive development and classification of albacore in the western Indian Ocean. The reproductive parameters will reduce uncertainty in current stock assessment models which will eventually promote sustainability of the fishery.

Keywords: condition, size-at-maturity, spawning behaviour, temperate tuna, total lipid content

Procedia PDF Downloads 232

Authors: Muga Moses

Abstract:

Plant growth regulators are actively involved in the growth and yield of plants. However, limited information is available on the combined effect of gibberellic acid (GA3) on growth attributes and yield of African nightshade. This experiment will be designed to fill this gap by studying the performance of African nightshade under the application of hormones. Gibberellic acid is a plant growth hormone that promotes cell expansion and division. A greenhouse and laboratory experiment will be conducted at the University of Sussex biotechnology greenhouse and Agriculture laboratory using a growth chamber to study the effect of GA3 on the growth and development attributes of African nightshade. The experiment consists of three replications and 5 treatments and is laid out in a randomized complete block design consisting of various concentrations of GA3. 0ppm, 50ppm, 100ppm, 150ppm and 200ppm. local farmer seed was grown in plastic pots, 6 seeds then hardening off to remain with four plants per pot at the greenhouse to attain purity of germplasm, proper management until maturity of berries then harvesting and squeezing to get seeds, paper dry on the sun for 7 days. In a laboratory, place 5 Whatman filter paper on glass petri-dish subject to different concentrations of stock solution, count 50 certified and clean, healthy seeds, then arrange on the moist filter paper and mark respectively. Spray with the stock solution twice a day and protrusion of radicle termed as germination count and discard to increase the accuracy of precision. Data will be collected on the application of GA3 to compare synergistic effects on the growth, yield, and nutrient contents on African nightshade.

Keywords: African nightshade, growth, yield, shoot, gibberellins

Procedia PDF Downloads 57

Authors: Valdir Moura, Raniele dos Anjos de Souza, Fernando Gomes de Souza, Jose Vagner da Silva, Jerry Adriani Johann

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The estimate of the Area of Land to be planted with annual crops and its stratification by the municipality are important variables in crop forecast. Nowadays in Brazil, these information’s are obtained by the Brazilian Institute of Geography and Statistics (IBGE) and published under the report Assessment of the Agricultural Production. Due to the high cloud cover in the main crop growing season (October to March) it is difficult to acquire good orbital images. Thus, one alternative is to work with remote sensing data from dates before the crop growing season. This work presents the use of multitemporal Landsat data gathered on July and September (before the summer growing season) in order to estimate the area of land to be planted with summer crops in an area of São Paulo State, Brazil. Geographic Information Systems (GIS) and digital image processing techniques were applied for the treatment of the available data. Supervised and non-supervised classifications were used for data in digital number and reflectance formats and the multitemporal Normalized Difference Vegetation Index (NDVI) images. The objective was to discriminate the tracts with higher probability to become planted with summer crops. Classification accuracies were evaluated using a sampling system developed basically for this study region. The estimated areas were corrected using the error matrix derived from these evaluations. The classification techniques presented an excellent level according to the kappa index. The proportion of crops stratified by municipalities was derived by a field work during the crop growing season. These proportion coefficients were applied onto the area of land to be planted with summer crops (derived from Landsat data). Thus, it was possible to derive the area of each summer crop by the municipality. The discrepancies between official statistics and our results were attributed to the sampling and the stratification procedures. Nevertheless, this methodology can be improved in order to provide good crop area estimates using remote sensing data, despite the cloud cover during the growing season.

Keywords: area intended for summer culture, estimated area planted, agriculture, Landsat, planting schedule

Procedia PDF Downloads 118