Search results for: internal rate of return
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 10597

Search results for: internal rate of return

10567 Utilization of Municipal Solid Waste in Thermal Power Production: A Techno-Economic Study of Kasur City, Punjab, Pakistan

Authors: Hafiz Muhammad Umer Aslam, Mohammad Rafiq Khan

Abstract:

This techno-economic study reports the feasibility of generating thermoelectric power from municipal solid waste (MSW) of Kasur City by incineration process. The data was gathered from different establishments of Kasur, through appropriate permission from their heads, and processed to design different alternative projects for installation of a thermal power plant in the city of Kasur. A technique of discounted cash flow was used to evaluate alternative projects so that their Benefit to Cost Ratio, Net Present Value, Internal Rate of Return and Payback Period can be determined. The study revealed that Kasur City currently consumes 18MWh electricity and generates 179 tons/day MSW. The generated waste has the ability to produce 2.1MWh electricity at the cost of USD 0.0581/unit with an expenditure of USD 3,907,692 as initial fixed investment of forming about 1/7th of consumption of Kasur. The cost from this source, when compared to current rate of electricity in Pakistan (USD 0.1346), is roughly half.

Keywords: Kasur City, resource recovery, thermoelectric power, waste management

Procedia PDF Downloads 124
10566 Determination of Optimum Torque of an Internal Combustion Engine by Exergy Analysis

Authors: Veena Chaudhary, Rakesh P. Gakkhar

Abstract:

In this study, energy and exergy analysis are applied to the experimental data of an internal combustion engine operating on conventional diesel cycle. The experimental data are collected using an engine unit which enables accurate measurements of fuel flow rate, combustion air flow rate, engine load, engine speed and all relevant temperatures. First and second law efficiencies are calculated for different engine speed and compared. Results indicate that the first law (energy) efficiency is maximum at 1700 rpm whereas exergy efficiency is maximum and exergy destruction is minimum at 1900 rpm.

Keywords: diesel engine, exergy destruction, exergy efficiency, second law of thermodynamics

Procedia PDF Downloads 285
10565 Analyzing Risk and Expected Return of Lenders in the Shared Mortgage Program of Korea

Authors: Keunock Lew, Seungryul Ma

Abstract:

The paper analyzes risk and expected return of lenders who provide mortgage loans to households in the shared mortgage program of Korea. In 2013, the Korean government introduced the mortgage program to help low income householders to convert their renting into purchasing houses. The financial source for the mortgage program is the Urban Housing Fund set up by the Korean government. Through the program, low income households can borrow money from lenders to buy a house at a very low interest rate (e.g. 1 % per year) for a long time. The motivation of adopting this mortgage program by the Korean government is that the cost of renting houses has been rapidly increased especially in large urban areas during the past decade, which became financial difficulties to low income households who do not have their own houses. As the analysis methodology, the paper uses a spread sheet model for projecting cash flows of the mortgage product over the period of loan contract. It also employs Monte Carlo simulation method to analyze the risk and expected yield of the lenders with assumption that the future housing price and market rate of interest follow a stochastic process. The study results will give valuable implications to the Korean government and lenders who want to stabilize the mortgage program and innovate the related loan products.

Keywords: expected return, Monte Carlo simulation, risk, shared mortgage program

Procedia PDF Downloads 239
10564 Change of Internal Friction on Magnesium Alloy with 5.48% Al Dependence on the Temperature

Authors: Milan Uhríčik, Andrea Soviarová, Zuzana Dresslerová, Peter Palček, Alan Vaško

Abstract:

The article is focused on the analysis changes dependence on the temperature on the magnesium alloy with 5,48% Al, 0,813% Zn and 0,398% Mn by internal friction. Internal friction is a property of the material is measured on the ultrasonic resonant aparature at a frequency about f = 20470 Hz. The measured temperature range was from 30 °C up to 420 °C. Precisely measurement of the internal friction can be monitored ongoing structural changes and various mechanisms that prevent these changes.

Keywords: internal friction, magnesium alloy, temperature, resonant frequency

Procedia PDF Downloads 657
10563 E-Commerce Product Return Management Effects on Consumer Experience and Satisfaction: A Fast-Fashion Perspective

Authors: Nora Alomar, Bianca Alexandra Stefa, Saleh Bazi

Abstract:

This research uncovers the determinants that drive millennial consumers to adhere to product return of fast-fashion products purchases via e-commerce and what effects it has on consumer experience and satisfaction. Online consumption has skyrocketed, with e-commerce being the only, most reliable, and safe method of shopping during and post Covid-19. It has been noted customers are demanding a wide variety of product characteristics and a generous optimal return policy. The authors have selected to examine millennial consumers as they are digital natives and have an affinity for researching, reading product reviews, and shopping online, with a great spending power due to a higher disposable income in comparison to other generations. A multi-study approach is adopted, where study one (interviews, sample of 20 respondents) investigates the factors that drive product return, and study two (PLS-SEM, sample of 250 respondents) looks into the relationships of product return management against behavioral outcomes by having the generated factors (from study one) as moderators. Five themes are generated from study one (return policies, product characteristics, delivery lead time, seasonality, product trial & overspending). The authors identify that two out of the five factors (seasonality, product trial & overspending) have not been highlighted by the literature. The paper examines 11 hypotheses, where 10 are supported. Findings highlight the quality of the product return management influences the overall millennial customer experience and satisfaction. Findings also indicate that product return management was identified to have a significant negative effect on customer experience. Additionally, seasonality has a significant but negative moderation, which means increasing seasonality decreases the relationship between product return management and customer experience and satisfaction. Results highlight that return policies have a significant negative influence on the relationship between returning a product and customer experience and satisfaction. Moreover, product characteristics are also identified to have a significant negative influence on the relationship between returning a product and customer experience and satisfaction. This study further examines the influence of the factors on direct e-commerce websites and third-party e-commerce websites. Findings showcase a strong statistical significance for the increased rate of return of fast-fashion products on third-party websites. This paper aids practitioners in taking strategic decisions related to return management, to improve the quality of logistical services and, in turn, increase profitability.

Keywords: customer experience, customer satisfaction, e-commerce, fast-fashion, product returns

Procedia PDF Downloads 72
10562 Effect on Bandwidth of Using Double Substrates Based Metamaterial Planar Antenna

Authors: Smrity Dwivedi

Abstract:

The present paper has revealed the effect of double substrates over a bandwidth performance for planar antennas. The used material has its own importance to get minimum return loss and improved directivity. The author has taken double substrates to enhance the efficiency in terms of gain of antenna. Metamaterial based antenna has its own specific structure which increased the performance of antenna. Improved return loss is -20 dB, and the voltage standing wave ratio (VSWR) is 1.2, which is better than single substrate having return loss of -15 dB and VSWR of 1.4. Complete results are obtained using commercial software CST microwave studio.

Keywords: CST microwave studio, metamaterial, return loss, VSWR

Procedia PDF Downloads 360
10561 The Vicissitudes of Monetary Policy Rates and Macro-Economic Variables in the West African Monetary Zone

Authors: Jonathan Olusegun Famoroti, Mathew Ekundayo Rotimi, Mishelle Doorasamy

Abstract:

This study offers an empirical investigation into some selected macroeconomic drivers of the monetary policy rate in member countries of the West African Monetary Zone (WAMZ), considering both internal and external variables. We employed Autoregressive Distributed Lag (ARDL) to carry out the investigation between monetary policy and some macroeconomic variables in both the long-run and short-run relationship. The results suggest that the drivers of the policy rate in this zone, in the long run, include, among others, global oil price, exchange rate, inflation rate, and gross domestic product, while in the short run, federal fund rate, trade openness, exchange rate, inflation rate, and gross domestic product are core determinants of the policy rate. Therefore, in order to ensure long-run stability in the policy rate among the members’ states, these drivers should be given closer consideration so that the trajectory for effective structure can be designed and fused into the economic structure and policy frameworks accordingly.

Keywords: monetary policy rate, macroeconomic variables, WAMZ, ARDL

Procedia PDF Downloads 11
10560 Currency Boards in Crisis: Experience of Baltic Countries

Authors: Gordana Kordić, Petra Palić

Abstract:

The European countries that during the past two decades based their exchange rate regimes on currency board arrangement (CBA) are usually analysed from the perspective of corner solution choice’s stabilisation effects. There is an open discussion on the positive and negative background of a strict exchange rate regime choice, although it should be seen as part of the transition process towards the monetary union membership. The focus of the paper is on the Baltic countries that after two decades of a rigid exchange rate arrangement and strongly influenced by global crisis are finishing their path towards the euro zone. Besides the stabilising capacity, the CBA is highly vulnerable regime, with limited developing potential. The rigidity of the exchange rate (and monetary) system, despite the ensured credibility, do not leave enough (or any) space for the adjustment and/or active crisis management. Still, the Baltics are in a process of recovery, with fiscal consolidation measures combined with (painful and politically unpopular) measures of internal devaluation. Today, two of them (Estonia and Latvia) are members of euro zone, fulfilling their ultimate transition targets, but de facto exchanging one fixed regime with another. The paper analyses the challenges for the CBA in unstable environment since the fixed regimes rely on imported stability and are sensitive to external shocks. With limited monetary instruments, these countries were oriented to the fiscal policies and used a combination of internal devaluation and tax policy measures. Despite their rather quick recovery, our second goal is to analyse the long term influence that the measures had on the national economy.

Keywords: currency board arrangement, internal devaluation, exchange rate regime, great recession

Procedia PDF Downloads 226
10559 Internal Audit and the Effectiveness and Efficiency of Operations in Hospitals

Authors: Naziru Suleiman

Abstract:

The ever increasing cases of financial frauds and corporate accounting scandals in recent years have raised more concern on the operation of internal control mechanisms and performance of the internal audit departments in organizations. In most cases the seeming presence of both the internal control system and internal audit in organizations do not prove useful as frauds errors and irregularities are being perpetuated. The aim of this study, therefore, is to assess the role of internal audit in achieving the objectives of internal control system of federal hospitals in Kano State from the perception of the respondents. The study used survey research design and generated data from primary source by means of questionnaire. A total number of 100 copies of questionnaire were administered out of which 68 were duly completed and returned. Cronbach’s alpha was used to test the internal validity of the various items in the constructs. Descriptive statistics, chi-square test, Mann Whitney U test and Kruskal Wallis ANOVA were employed for the analysis of data. The study finds that from the perception of the respondents, internal audit departments in Federal Hospitals in Kano State are effective and that they contribute positively to the overall attainment of the objectives of internal control system of these hospitals. There is no significant difference found on the views of the respondents from the three hospitals. Hence, the study concludes that strong and functional internal audit department is a basic requirement for effectiveness of operations of the internal control system. In the light of the findings, it is recommended that internal audit should continue to ensure that the objectives of internal control system of these hospitals are achieved through proper and adequate evaluation and review of the system.

Keywords: internal audit, internal control, federal hospitals, financial frauds

Procedia PDF Downloads 308
10558 An Investigation on the Internal Quality Assurance System of Higher Education in Indonesia

Authors: Andi Mursidi

Abstract:

This study aims to investigate why the internal quality assurance system as the basis for the assessment of external quality assurance systems is not well developed at universities in Indonesia. To answer this problem, technical analysis used single instrumental case study with the respondents from ten universities. The findings of this study are the internal quality assurance system that is applied so far (1) only to gain accreditation; and (2) considered as a liability rather than as a necessity to meet the demands of quality standards. It needs strong commitment from internal stakeholders at the college/university to establish internal quality assurance systems that exceed the national standards of higher education. A high quality college/ university will have a good accreditation rank.

Keywords: internal stakeholders, internal quality assurance system, commitment, higher education

Procedia PDF Downloads 244
10557 A Relationship between Transformational Leadership, Internal Audit and Risk Management Implementation in the Indonesian Public Sector

Authors: Tio Novita Efriani

Abstract:

Public sector organizations work in a complex and risky environment. Since the beginning of 2000s, the public sector has paid attention to the need for an effective risk management. The Indonesian public sector has also concerned about this issue and in 2008 it enacted the Government Regulation that gives mandate for the implementation of risk management in government organizations. This paper investigates risk management implementation in the Indonesian public sector organizations and the role of transformational leadership and internal audit activities. Data was collected via survey. A total of 202 effective responses (30% response rate) from employees in 34 government ministries were statistically analyzed by using Partial least square structural equation modelling (PLS-SEM) and the software was SmartPLS 3.0. All the constructs were lower order, except for the risk management implementation construct, which was treated as a second-order construct. A two-stage approach was employed in the analysis of the higher order component. The findings revealed that transformational leadership positively influence risk management implementation. The findings also found that the core and legitimate roles of internal audit in risk management positively affect the implementation of risk management. The final finding showed that internal auditing mediates a relationship between transformational leadership and risk management implementation. These results suggest that the implementation of risk management in the Indonesian public sector was significantly supported by internal auditors and leadership. The findings confirm the importance of transformational leadership and internal audit in the public sector risk management strategies.

Keywords: Indonesian public sector, internal audit, risk management, transformational leadership

Procedia PDF Downloads 158
10556 Design of Lead-Lag Based Internal Model Controller for Binary Distillation Column

Authors: Rakesh Kumar Mishra, Tarun Kumar Dan

Abstract:

Lead-Lag based Internal Model Control method is proposed based on Internal Model Control (IMC) strategy. In this paper, we have designed the Lead-Lag based Internal Model Control for binary distillation column for SISO process (considering only bottom product). The transfer function has been taken from Wood and Berry model. We have find the composition control and disturbance rejection using Lead-Lag based IMC and comparing with the response of simple Internal Model Controller.

Keywords: SISO, lead-lag, internal model control, wood and berry, distillation column

Procedia PDF Downloads 597
10555 The Impact of Audit Committee Industry Expertise on Internal Audit Function

Authors: Abdulaziz Alzeban

Abstract:

This study examines whether internal audit function is indeed greater when audit committee members have industry expertise combined with auditing expertise. Data from a survey of 64 chief internal auditors from companies registered on the Saudi Stock Exchange TADAWL, provides results that suggest that when audit committee members possess both industry expertise and auditing expertise, the committee’s role in improving the quality of internal audit is enhanced. This outcome is concluded as one that can be generalized beyond the Saudi Arabian context.

Keywords: internal audit, audit committee, industry expertise, function

Procedia PDF Downloads 312
10554 Plasma Properties Effect on Fluorescent Tube Plasma Antenna Performance

Authors: A. N. Dagang, E. I. Ismail, Z. Zakaria

Abstract:

This paper presents the analysis on the performance of monopole antenna with fluorescent tubes. In this research, the simulation and experimental approach is conducted. The fluorescent tube with different length and size is designed using Computer Simulation Technology (CST) software and the characteristics of antenna parameter are simulated throughout the software. CST was used to simulate antenna parameters such as return loss, resonant frequency, gain and directivity. Vector Network Analyzer (VNA) was used to measure the return loss of plasma antenna in order to validate the simulation results. In the simulation and experiment, the supply frequency is set starting from 1 GHz to 10 GHz. The results show that the return loss of plasma antenna changes when size of fluorescent tubes is varied, correspond to the different plasma properties. It shows that different values of plasma properties such as plasma frequency and collision frequency gives difference result of return loss, gain and directivity. For the gain, the values range from 2.14 dB to 2.36 dB. The return loss of plasma antenna offers higher value range from -22.187 dB to -32.903 dB. The higher the values of plasma frequency and collision frequency, the higher return loss can be obtained. The values obtained are comparative to the conventional type of metal antenna.

Keywords: plasma antenna, fluorescent tube, CST, plasma parameters

Procedia PDF Downloads 350
10553 Feasibility Studies through Quantitative Methods: The Revamping of a Tourist Railway Line in Italy

Authors: Armando Cartenì, Ilaria Henke

Abstract:

Recently, the Italian government has approved a new law for public contracts and has been laying the groundwork for restarting a planning phase. The government has adopted the indications given by the European Commission regarding the estimation of the external costs within the Cost-Benefit Analysis, and has been approved the ‘Guidelines for assessment of Investment Projects’. In compliance with the new Italian law, the aim of this research was to perform a feasibility study applying quantitative methods regarding the revamping of an Italian tourist railway line. A Cost-Benefit Analysis was performed starting from the quantification of the passengers’ demand potentially interested in using the revamped rail services. The benefits due to the external costs reduction were also estimated (quantified) in terms of variations (with respect to the not project scenario): climate change, air pollution, noises, congestion, and accidents. Estimations results have been proposed in terms of the Measure of Effectiveness underlying a positive Net Present Value equal to about 27 million of Euros, an Internal Rate of Return much greater the discount rate, a benefit/cost ratio equal to 2 and a PayBack Period of 15 years.

Keywords: cost-benefit analysis, evaluation analysis, demand management, external cost, transport planning, quality

Procedia PDF Downloads 176
10552 Downside Risk Analysis of the Nigerian Stock Market: A Value at Risk Approach

Authors: Godwin Chigozie Okpara

Abstract:

This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

Procedia PDF Downloads 405
10551 Seismic Hazard Study and Strong Ground Motion in Southwest Alborz, Iran

Authors: Fereshteh Pourmohammad, Mehdi Zare

Abstract:

The city of Karaj, having a population of 2.2 millions (est. 2022) is located in the South West of Alborz Mountain Belt in Northern Iran. The region is known to be a highly active seismic zone. This study is focused on the geological and seismological analyses within a radius of 200 km from the center of Karaj. There are identified five seismic zones and seven linear seismic sources. The maximum magnitude was calculated for the seismic zones. Scine tghe seismicity catalog is incomplete, we have used a parametric-historic algorithm and the Kijko and Sellevoll (1992) method was used to calculate seismicity parameters, and the return periods and the probability frequency of recurrence of the earthquake magnitude in each zone obtained for 475-years return period. According to the calculations, the highest and lowest earthquake magnitudes of 7.6 and 6.2 were respectively obtained in Zones 1 and 4. This result is a new and extremely important in view point of earthquake risk in a densely population city. The maximum strong horizontal ground motion for the 475-years return period 0.42g and for 2475-year return period 0.70g also the maximum strong vertical ground motion for 475-years return period 0.25g and 2475-years return period 0.44g was calculated using attenuation relationships. These acceleration levels are new, and are obtained to be about 25% higher than presented values in the Iranian building code.

Keywords: seismic zones, ground motion, return period, hazard analysis

Procedia PDF Downloads 62
10550 Impact of Internal Control on Fraud Detection and Prevention: A Survey of Selected Organisations in Nigeria

Authors: Amos Olusola Akinola

Abstract:

The aim of this study is to evaluate the internal control system on fraud prevention in Nigerian business organizations. A survey research was undertaken in five organizations from the banking and manufacturing sectors in Nigeria using the simple random sampling technique and primary data was obtained with the aid structured questionnaire drawn on five likert’s scale. Four Hypotheses were formulated and tested using the T-test Statistics, Correlation and Regression Analysis at 95% confidence interval. It was discovered that internal control has a significant positive relationship with fraud prevention and that a weak internal control system permits fraudulent activities among staff. Based on the findings, it was recommended that organizations should continually and methodically review and evaluate the components of its internal control system whether activities are working as planned or not and that every organization should have pre-determined guidelines for conducting its operations and ensures compliance with these set guidelines while proactive steps should be taken to establish the independence of the internal audit by making the audit reportable to the governing council of an organization and not the chief executive officer.

Keywords: internal control, internal system, internal audit, fraud prevention, fraud detection

Procedia PDF Downloads 341
10549 Time and Wavelength Division Multiplexing Passive Optical Network Comparative Analysis: Modulation Formats and Channel Spacings

Authors: A. Fayad, Q. Alqhazaly, T. Cinkler

Abstract:

In light of the substantial increase in end-user requirements and the incessant need of network operators to upgrade the capabilities of access networks, in this paper, the performance of the different modulation formats on eight-channels Time and Wavelength Division Multiplexing Passive Optical Network (TWDM-PON) transmission system has been examined and compared. Limitations and features of modulation formats have been determined to outline the most suitable design to enhance the data rate and transmission reach to obtain the best performance of the network. The considered modulation formats are On-Off Keying Non-Return-to-Zero (NRZ-OOK), Carrier Suppressed Return to Zero (CSRZ), Duo Binary (DB), Modified Duo Binary (MODB), Quadrature Phase Shift Keying (QPSK), and Differential Quadrature Phase Shift Keying (DQPSK). The performance has been analyzed by varying transmission distances and bit rates under different channel spacing. Furthermore, the system is evaluated in terms of minimum Bit Error Rate (BER) and Quality factor (Qf) without applying any dispersion compensation technique, or any optical amplifier. Optisystem software was used for simulation purposes.

Keywords: BER, DuoBinary, NRZ-OOK, TWDM-PON

Procedia PDF Downloads 103
10548 CyberSecurity Malaysia: Towards Becoming a National Certification Body for Information Security Management Systems Internal Auditors

Authors: M. S. Razana, Z. W. Shafiuddin

Abstract:

Internal auditing is one of the most important activities for organizations that implement information security management systems (ISMS). The purpose of internal audits is to ensure the ISMS implementation is in accordance to the ISO/IEC 27001 standard and the organization’s own requirements for its ISMS. Competent internal auditors are the main element that contributes to the effectiveness of internal auditing activities. To realize this need, CyberSecurity Malaysia is now in the process of becoming a certification body that certifies ISMS internal auditors. The certification scheme will assess the competence of internal auditors in generic knowledge and skills in management systems, and also in ISMS-specific knowledge and skills. The certification assessment is based on the ISO/IEC 19011 Guidelines for auditing management systems, ISO/IEC 27007 Guidelines for information security management systems auditing and ISO/IEC 27001 Information security management systems requirements. The certification scheme complies with the ISO/IEC 17024 General requirements for bodies operating certification systems of persons. Candidates who pass the exam will be certified as an ISMS Internal Auditor, whose competency will be evaluated every three years.

Keywords: ISMS internal audit, ISMS internal auditor, ISO/IEC 17024, competence, certification

Procedia PDF Downloads 204
10547 Internal and External Validity in Experimental Economics

Authors: Helena Chytilova, Robin Maialeh

Abstract:

Experimental economics is subject to criticism with regards to frequently discussed trade-off between internal and external validity requirements, which seems to be critically flawed. Incompatibility of trade-off condition and condition of internal validity as a prerequisite for external validity is presented. In addition, the imprecise concept of artificiality found to be rather improving external validity, seems to strengthen illusory status of external versus internal validity tension. Internal validity will be further analysed with regards to Duhem-Quine problem, where unpredictability argument is significantly weakened trough application of inductivism within the illustrative hypothetical-deductive model. Discussion outlined above partially weakens critical arguments related to robustness of results in experimental economics, if perfectly controlled experimental environment is secured.

Keywords: Duhem-Quine problem, external validity, inductivism, internal validity

Procedia PDF Downloads 242
10546 Exposing Investor Sentiment In Stock Returns

Authors: Qiang Bu

Abstract:

This paper compares the explanatory power of sentiment level and sentiment shock. The preliminary test results show that sentiment shock plays a more significant role in explaining stocks returns, including the raw return and abnormal return. We also find that sentiment shock beta has a higher statistical significance than sentiment beta. These finding sheds new light on the relationship between investor sentiment and stock returns.

Keywords: sentiment level, sentiment shock, explanatory power, abnormal stock return, beta

Procedia PDF Downloads 99
10545 The Influence of Cycle Index of Simulation Condition on Main Bearing Wear Prognosis of Internal Combustion Engine

Authors: Ziyu Diao, Yanyan Zhang, Zhentao Liu, Ruidong Yan

Abstract:

The update frequency of wear profile in main bearing wear prognosis of internal combustion engine plays an important role in the calculation efficiency and accuracy. In order to investigate the appropriate cycle index of the simplified working condition of wear simulation, the main bearing-crankshaft journal friction pair of a diesel engine in service was studied in this paper. The method of multi-body dynamics simulation was used, and the wear prognosis model of the main bearing was established. Several groups of cycle indexes were set up for the wear calculation, and the maximum wear depth and wear profile were compared and analyzed. The results showed that when the cycle index reaches 3, the maximum deviation rate of the maximum wear depth is about 2.8%, and the maximum deviation rate comes to 1.6% when the cycle index reaches 5. This study provides guidance and suggestions for the optimization of wear prognosis by selecting appropriate value of cycle index according to the requirement of calculation cost and accuracy of the simulation work.

Keywords: cycle index, deviation rate, wear calculation, wear profile

Procedia PDF Downloads 120
10544 Factors Influencing Bank Profitability of Czech Banks and Their International Parent Companies

Authors: Libena Cernohorska

Abstract:

The goal of this paper is to specify factors influencing the profitability of selected banks. Next, a model will be created to help establish variables that have a demonstrable influence on the development of the selected banks' profitability ratios. Czech banks and their international parent companies were selected for analyzing profitability. Banks categorized as large banks (according to the Czech National Bank's system, which ranks banks according to balance sheet total) were selected to represent the Czech banks. Two ratios, the return on assets ratio (ROA) and the return on equity ratio (ROE) are used to assess bank profitability. Six endogenous and four external indicators were selected from among other factors that influence bank profitability. The data analyzed were for the years 2001 – 2013. First, correlation analysis, which was supposed to eliminate correlated values, was conducted. A large number of correlated values were established on the basis of this analysis. The strongly correlated values were omitted. Despite this, the subsequent regression analysis of profitability for the individual banks that were selected did not confirm that the selected variables influenced their profitability. The studied factors' influence on bank profitability was demonstrated only for Československá Obchodní Banka and Société Générale using regression analysis. For Československá Obchodní Banka, it was demonstrated that inflation level and the amount of the central bank's interest rate influenced the return on assets ratio and that capital adequacy and market concentration influenced the return on equity ratio for Société Générale.

Keywords: banks, profitability, regression analysis, ROA, ROE

Procedia PDF Downloads 218
10543 Mutual Fund Anchoring Bias with its Parent Firm Performance: Evidence from Mutual Fund Industry of Pakistan

Authors: Muhammad Tahir

Abstract:

Purpose The purpose of the study is to find anchoring bias behavior in mutual fund return with its parent firm performance in Pakistan. Research Methodology The paper used monthly returns of equity funds whose parent firm exist from 2011 to 2021, along with parent firm return. Proximity to 52-week highest return calculated by dividing fund return by parent firm 52-week highest return. Control variables are also taken and used pannel regression model to estimate our results. For robust results, we also used feasible generalize least square (FGLS) model. Findings The results showed that there exist anchoring biased in mutual fund return with its parent firm performance. The FGLS results reaffirms the same results as obtained from panner regression results. Proximity to 52-week highest Xc is significant in both models. Research Implication Since most of mutual funds has a parent firm, anchoring behavior biased found in mutual fund with its parent firm performance. Practical Implication Mutual fund investors in Pakistan invest in equity funds in which behavioral bias exist, although there might be better opportunity in market. Originality/Value Addition Our research is a pioneer study to investigate anchoring bias in mutual fund return with its parent firm performance. Research limitations Our sample is limited to only 23 equity funds, which has a parent firm and data was available from 2011 to 2021.

Keywords: mutual fund, anchoring bias, 52-week high return, proximity to 52-week high, parent firm performance, pannel regression, FGLS

Procedia PDF Downloads 78
10542 The Potential Factors Relating to the Decision of Return Migration of Myanmar Migrant Workers: A Case Study in Prachuap Khiri Khan Province

Authors: Musthaya Patchanee

Abstract:

The aim of this research is to study potential factors relating to the decision of return migration of Myanmar migrant workers in Prachuap Khiri Khan Province by conducting a random sampling of 400 people aged between 15-59 who migrated from Myanmar. The information collected through interviews was analyzed to find a percentage and mean using the Stepwise Multiple Regression Analysis. The results have shown that 33.25% of Myanmar migrant workers want to return to their home country within the next 1-5 years, 46.25%, in 6-10 years and the rest, in over 10 years. The factors relating to such decision can be concluded that the scale of the decision of return migration has a positive relationship with a statistical significance at 0.05 with a conformity with friends and relatives (r=0.886), a relationship with family and community (r=0.782), possession of land in hometown (r=0.756) and educational level (r=0.699). However, the factor of property possession in Prachuap Khiri Khan is the only factor with a high negative relationship (r=0.-537). From the Stepwise Multiple Regression Analysis, the results have shown that the conformity with friends and relatives and educational level factors are influential to the decision of return migration of Myanmar migrant workers in Prachuap Khiri Khan Province, which can predict the decision at 86.60% and the multiple regression equation from the analysis is Y= 6.744+1.198 conformity + 0.647 education.

Keywords: decision of return migration, factors of return migration, Myanmar migrant workers, Prachuap Khiri Khan Province

Procedia PDF Downloads 500
10541 Internal Migration and Poverty Dynamic Analysis Using a Bayesian Approach: The Tunisian Case

Authors: Amal Jmaii, Damien Rousseliere, Besma Belhadj

Abstract:

We explore the relationship between internal migration and poverty in Tunisia. We present a methodology combining potential outcomes approach with multiple imputation to highlight the effect of internal migration on poverty states. We find that probability of being poor decreases when leaving the poorest regions (the west areas) to the richer regions (greater Tunis and the east regions).

Keywords: internal migration, potential outcomes approach, poverty dynamics, Tunisia

Procedia PDF Downloads 272
10540 Numerical Analysis of Internal Cooled Turbine Blade Using Conjugate Heat Transfer

Authors: Bhavesh N. Bhatt, Zozimus D. Labana

Abstract:

This work is mainly focused on the analysis of heat transfer of blade by using internal cooling method. By using conjugate heat transfer technology we can effectively compute the cooling and heat transfer analysis of blade. Here blade temperature is limited by materials melting temperature. By using CFD code, we will analyze the blade cooling with the help of CHT method. There are two types of CHT methods. In the first method, we apply coupled CHT method in which all three domains modeled at once, and in the second method, we will first model external domain and then, internal domain of cooling channel. Ten circular cooling channels are used as a cooling method with different mass flow rate and temperature value. This numerical simulation is applied on NASA C3X turbine blade, and results are computed. Here results are showing good agreement with experimental results. Temperature and pressure are high at the leading edge of the blade on stagnation point due to its first faces the flow. On pressure side, shock wave is formed which also make a sudden change in HTC and other parameters. After applying internal cooling, we are succeeded in reducing the metal temperature of blade by some extends.

Keywords: gas turbine, conjugate heat transfer, NASA C3X Blade, circular film cooling channel

Procedia PDF Downloads 284
10539 Impact of Risk Management Practices on Company Performance

Authors: Syed Atif Ali, Farzan Yahya

Abstract:

This research paper covers the issue of risk management impact on the company performance. Degree of financial leverage (DFL), degree of operating leverage (DOL) and the working capital ratio (WCR) are taken as independent variables which are the representative of risk and the earning price per share (EPS), return on assets (ROA), return on equity (ROE), Sales and Net profits which are the representative of performance. Last 10 years (2004-2013) of Cement sector of Pakistan data is chosen as sample for analyze their relations by multiple regression technique. Through analyses, it is found that WCR impact adequately on the company performance because if company has enough liquidity than it perform its operations smoothly and enhance its performance very well. DFL should be control moderately because enough DFL leads performance of company downward. On the other hand, the DOL should be less because it causes the less profitability for a company from its operations.

Keywords: degree of financial leverage (DFL), degree of operating leverage (DOL), working capital ratio (WCR), earning per share (EPS), return on equity (ROE), return on assets (ROA)

Procedia PDF Downloads 414
10538 A Study of Management Principles Incorporating Corporate Governance and Advocating Ethics to Reduce Fraud at a South African Bank

Authors: Roshan Jelal, Charles Mbohwa

Abstract:

In today’s world, internal fraud remains one of the most challenging problems within companies worldwide and despite investment in controls and attention given to the problem, the instances of internal fraud has not abated. To the contrary it appears that internal fraud is on the rise especially in the wake of the economic downturn. Leadership within companies believes that the more sophisticated the controls employed the less likely it would be for employees to pilfer. This is a very antiquated view as investment in controls may not be enough to curtail internal fraud; however, ensuring that a company drives the correct culture and behaviour within the organisation is likely to yield desired results. This research aims to understand how creating a strong ethical culture and embedding the principle of good corporate governance impacts on levels of internal fraud with an organization (a South African Bank).

Keywords: internal fraud, corporate governance, ethics, reserve bank, the King Code

Procedia PDF Downloads 364