Search results for: inverse participation ratios and implied volatility

Authors: Samanwita Paul

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Borrowing from Kabeer’s framework of empowerment, participation of women at Panchayat level politics (grassroots level of politics in India) has been conceptualized as a resource in the study and the impact of the same in influencing the policies at the grassroots as an agency. The study attempts to examine such intricacies in the dynamics of participation and policy formulation at the Panchayat level and to assess its overall impact in altering the recognition and redistribution of women. A conscious attempt has been made to go beyond formal politics and consider participants of the informal political processes as subjects of the study. Primary surveys were conducted for data collection in 4 Panchayat villages (from Jalpaiguri district in West Bengal) of which 2 wards from each were selected based on the nature of reservation of the panchayat seats. In-depth interviews with the Panchayat members and an approximate of 80 voters from each of the villages were conducted. This has been further analyzed with the aid of appropriate statistical tools and narratives. Preliminary findings show that women from vulnerable sections tend to participate more in the political process since it offers them a means of negotiating with their vulnerabilities however in case of its impact on policy formulation, the effect of women’s participation does to appear to be as profound.

Keywords: recognition, redistribution, political participation, women

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Authors: Fauzia Dianawati, Riska W. Purnomo

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Food and agricultural sector become the biggest sector contributing to inflation in Indonesia. Especially in Wonogiri district, red cayenne pepper was the biggest sector contributing to inflation on 2016. A national statistic proved that in recent five years red cayenne pepper has the highest average level of fluctuation among all commodities. Some factors, like supply chain, price disparity, production quantity, crop failure, and oil price become the possible factor causes high volatility level in red cayenne pepper price. Therefore, this research tries to find the key factor causing fluctuation on red cayenne pepper by using ARCH/GARCH method. The method could accommodate the presence of heteroscedasticity in time series data. At the end of the research, it is statistically found that the second level of supply chain becomes the biggest part contributing to inflation with 3,35 of coefficient in fluctuation forecasting model of red cayenne pepper price. This model could become a reference to the government to determine the appropriate policy in maintaining the price stability of red cayenne pepper.

Keywords: ARCH/GARCH, forecasting, red cayenne pepper, volatility, supply chain

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Authors: G. N. Maheshika, J. A. R. H. Wijerathna, S. H. P. Gunawardena

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Feedstock with high free fatty acids (FFAs) content can be successfully employed for biodiesel synthesis once the high FFA content is reduced to the desired levels. In the present study, the applicability of ferric sulphate as the solid acid catalyst for esterification of FFA in used coconut oil was evaluated at varying catalyst concentration and methanol:oil molar ratios. 1.25, 2.5, 3.75 and 5.0% w/w Fe2(SO4)3 on oil basis was used at methanol:oil ratios of 3:1, 4.5:1, and 6:1 and at the reaction temperature of 60 0C. The FFA reduction increased with the increase in catalyst and methanol:oil molar ratios while the time requirement to reach the esterification equilibrium reduced. Satisfactory results for esterification could be obtained within a small reaction period in the presence of only a small amount of Fe2(SO4)3 catalyst concentration and at low reaction temperature, which then can be subjected for trans-esterification process. At the end of the considering reaction period the solid Fe2(SO4)3 catalyst could be separated from the reaction system. The economics of the Fe2(SO4)3 catalyzed esterification of high FFA content used coconut oil for biodiesel is at favorable conditions.

Keywords: biodiesel, esterification, ferric sulphate, Free fatty acids, used coconut oil

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Authors: Hammadi Larbi, Bergane Cheikh

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Drilling for oil is done through many mechanisms. The goal is first to dig deep and then, after arriving at the oil source, to simply suck it up. And for this, it is important to know the role of oil-based drilling muds, which had many benefits for the drilling tool and for drilling generally, and also and essentially to know the rheological behavior of the emulsion system in particular water-in-oil inverse emulsions (Water/crude oil). This work contributes to the improvement of the stability and rheological properties of crude oil-based drilling mud by organophilic clay. Experimental data from steady-state flow measurements of crude oil-based drilling mud are classically analyzed by the Herschel-Bulkley model. The effects of organophilic clay type VG69 are studied. Microscopic observation showed that the addition of quantities of organophilic clay type VG69 less than or equal to 3 g leads to the stability of inverse Water/Oil emulsions; on the other hand, for quantities greater than 3g, the emulsions are destabilized.

Keywords: drilling, organophilic clay, crude oil, stability

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Authors: Muhammad Farooq, Ahtasham Gul

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To meet the desired standard, it is important to monitor and analyze different engineering processes to get desired output. The bivariate distributions got a lot of attention in recent years to describe the randomness of natural as well as artificial mechanisms. In this article, a bivariate model is constructed using two independent models developed by the nesting approach to study the effect of each component on reliability for better understanding. Further, the Bayes analysis of system availability is studied by considering prior parametric variations in the failure time and repair time distributions. Basic statistical characteristics of marginal distribution, like mean median and quantile function, are discussed. We use inverse Gamma prior to study its frequentist properties by conducting Monte Carlo Markov Chain (MCMC) sampling scheme.

Keywords: reliability, system availability Weibull, inverse Lomax, Monte Carlo Markov Chain, Bayesian

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Authors: R. Henry, H. Andriamboavonjy, J. B. Paulin, S. Drahy, R. Gourichon

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During past decade, Chinese monetary policy has been to maintain stability of exchange rate CNY/USD by creating parity between the two currencies. This policy, against market equilibrium, impacts the exchange rate in having low Yuan currency, and keeping attractiveness of Chinese industries. Using macroeconomic and statistic approach, the impact of such policy onto CNY/USD exchange rate is quantitatively determined. It is also pointed out how Chinese banks respect Basel III ratios, in particular the foreign exchange ratio. The main analysis is focusing on how Chinese banks will respect these ratios in the future.

Keywords: macroeconomics models, yuan floating exchange rate, basel iii, china banking system

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Authors: Ibrahim Baba

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The work examines the nature and causes of differential politics in Africa with particular reference to the sub-Saharan region of the continent. It also among other objectives provides alternative panacea to gender discrimination in African politics and offers solutions on how to promote political inclusion of all citizens in respect of gender differences in Africa. The work is conducted using library base documentation analysis.

Keywords: gender, political, participation, differential politics, sub-Saharan Africa

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Authors: Arfan Riasat, M. Iqbal Zafar, Gulfam Riasat

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Pakistani women actively participate in livestock management activities, along with their normal domestic chores. The study was designed to measure the position and contribution of rural women, their constraints in livestock management activities and mainly how the rural women contribute for development in the district Faisalabad. It was envisioned that women participation in livestock activities have rarely been investigated. A multistage random sampling technique was used to collect the data from Tehsil Summandry of the district selected at random. Two union councils were taken by using simple random sampling technique. Four Chak (village) from each union council were selected at random and fifteen woman were further selected randomly from each selected chak. The results show that a vast majority of women were illiterate, having annual family income of one to two lac. They are living in joint family system. Their main occupation is agriculture and they spend long hours in whole livestock related activities to support their families. A large proportion of the respondents reported that they had to face problems and constraints in livestock activities in the context of decision making, medication, awareness, training along with social and economic issues. Analysis indicated that education level of women, income of household, age were significantly associated with level of participation. Women participation in livestock activities increased production and they were involved in income generating activities for better economic conditions of their families.

Keywords: women, participation, livestock, management, rural development

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Authors: Bangkit Adhi Nugraha, Bambang Suripto

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On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.

Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016

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Authors: Igor V. Kuzminov

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According to its content, the proposed article is a collection of articles with comments and additions. All articles, in one way or another, have a connection with the Second Law of Thermodynamics. The content of the articles is given in a concise form. The articles were published in different journals at different times. Main topics are presented: gravity, biography of the Earth, physics of global warming-cooling cycles, multiverse. The articles are based on the laws of classical physics. Along the way, it should be noted that the Second Law of thermodynamics can be formulated as the Law of Matter Cooling. As it cools down, the processes of condensation, separation, and changes in the aggregate states of matter occur. In accordance with these changes, a picture of the world is being formed. Also, the main driving force of these processes is the inverse temperature dependence of the forces of gravity. As matter cools, the forces of gravity increase. The actions of these phenomena in the compartment form a picture of the world.

Keywords: gravitational forces, cooling of matter, inverse temperature dependence of gravitational forces, planetary model of the atom

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Authors: Shin Ku Kim, Yun Ah Oh, Eun Hee Seo, Chang Min Dae, Yun Jung Bae

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Objectives: The commonly used PRESS technique in magnetic resonance spectroscopy (MRS) has a limitation of incomplete water suppression. The recently developed sLASER technique is known for its improved effectiveness in suppressing water signal. However, no prior study has compared both sequences in a normal human brain. In this study, we firstly aimed to compare the performances of both techniques in brain MRS. Materials and methods: From January 2023 to July 2023, thirty healthy participants (mean age 38 years, 17 male, 13 female) without underlying neurological diseases were enrolled in this study. All participants underwent single-voxel MRS using both PRESS and sLASER techniques on 3T MRI. Two regions-of-interest were allocated in the left medial thalamus and left parietal white matter (WM) by a single reader. The SpectroView Analysis (SW5, Philips, Netherlands) provided automatic measurements, including signal-to-noise ratio (SNR) and peak_height of water, N-acetylaspartate (NAA)-water/Choline (Cho)-water/Creatine (Cr)-water ratios, and NAA-Cr/Cho-Cr ratios. The measurements from PRESS and sLASER techniques were compared using paired T-tests and Bland-Altman methods, and the variability was assessed using coefficients of variation (CV). Results: SNR and peak_heights of the water were significantly lower with sLASER compared to PRESS (left medial thalamus, sLASER SNR/peak_height 2092±475/328±85 vs. PRESS 2811±549/440±105); left parietal WM, 5422±1016/872±196 vs. 7152±1305/1150±278; all, P<0.001, respectively). Accordingly, NAA-water/Cho-water/Cr-water ratios and NAA-Cr/Cho-Cr ratios were significantly higher with sLASER than with PRESS (all, P< 0.001, respectively). The variabilities of NAA-water/Cho-water/Cr-water ratios and Cho-Cr ratio in the left medial thalamus were lower with sLASER than with PRESS (CV, sLASER vs. PRESS, 19.9 vs. 58.1/19.8 vs. 54.7/20.5 vs. 43.9 and 11.5 vs. 16.2) Conclusion: The sLASER technique demonstrated enhanced background water suppression, resulting in increased signals and reduced variability in brain metabolite measurements of MRS. Therefore, sLASER could offer a more precise and stable method for identifying brain metabolites.

Keywords: Magnetic resonance spectroscopy, Brain, sLASER, PRESS

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Authors: Nafiseh Ebrahimi, Amir Jafari

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The study of humanoid character is of great interest to researchers in the field of robotics and biomechanics. One might want to know the forces and torques required to move a limb from an initial position to the desired destination position. Inverse dynamics is a helpful method to compute the force and torques for an articulated body limb. It enables us to know the joint torques required to rotate a link between two positions. Our goal in this study was to control a human-like articulated manipulator for a specific task of path tracking. For this purpose, the human arm was modeled with a three-link planar manipulator activated by Hill muscle model. Applying a proportional controller, values of force and torques applied to the joints were calculated by inverse dynamics, and then joints and muscle forces trajectories were computed and presented. To be more accurate to say, the kinematics of the muscle-joint space was formulated by which we defined the relationship between the muscle lengths and the geometry of the links and joints. Secondary, the kinematic of the links was introduced to calculate the position of the end-effector in terms of geometry. Then, we considered the modeling of Hill muscle dynamics, and after calculation of joint torques, finally, we applied them to the dynamics of the three-link manipulator obtained from the inverse dynamics to calculate the joint states, find and control the location of manipulator’s end-effector. The results show that the human arm model was successfully controlled to take the designated path of an ellipse precisely.

Keywords: arm manipulator, hill muscle model, six-muscle model, three-link lodel

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Authors: Erinda Male

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Participation of a lawyer in any criminal proceedings on behalf of an accused person or a victim is essential to a fair trial. Legal representation is particularly crucial in proceedings before international tribunals, especially in the International Criminal Court. The paper thus focuses on the importance of the legal representation of victims and defendants before the ICC, as well as on the role of the legal representative in the proceedings before the court and the principle of freedom of choice of legal representatives. Also, the paper presents a short overview of the significance of legal representatives for victims and the necessity to protect their primary role in the ICC system, and ensure that it is coherent and respectful of victims’ rights. Victim participation is an important part of the ICC Statute and it is designed to help ensure that those most affected by the crimes are able to engage with the Court. Proper and quality legal representation ensures meaningful participation of victims at stages of the proceedings before ICC. Finally, the paper acknowledges the role of legal representatives during the pre-trial, trial and post-trial phase, the different modalities in selecting the legal representatives as well as balancing victims’ participation with the right of the accused to a fair trial.

Keywords: fair trial, freedom of choice principle, international criminal court, legal representatives, victims

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Authors: Abderrazek Ben Maatoug, Ibrahim Fatnassi, Wassim Ben Ayed

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In this paper we investigate the issue of market risk quantification for Middle East and North Africa (MENA) Islamic market equity. We use Value-at-Risk (VaR) as a measure of potential risk in Islamic stock market, for long and short position, based on Riskmetrics model and the conditional parametric ARCH class model volatility with normal, student and skewed student distribution. The sample consist of daily data for the 2006-2014 of 11 Islamic stock markets indices. We conduct Kupiec and Engle and Manganelli tests to evaluate the performance for each model. The main finding of our empirical results show that (i) the superior performance of VaR models based on the Student and skewed Student distribution, for the significance level of α=1% , for all Islamic stock market indices, and for both long and short trading positions (ii) Risk Metrics model, and VaR model based on conditional volatility with normal distribution provides the best accurate VaR estimations for both long and short trading positions for a significance level of α=5%.

Keywords: value-at-risk, risk management, islamic finance, GARCH models

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Authors: Emilie Fort

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Two major pitfalls emerge at the intersection of gender and peacebuilding literature: the comprehension of women as a homogeneous category and a focus on women's participation in formal peace processes and state structures. However, women belong (and identify) to distinct ethnic, religious, or social groups, and the variety of their social location impacts their ability to mobilize, to participate in peace processes as well as the way they envision peace. This study is based on interviews conducted (remotely) with women activists from the post-Yugoslav area. It shows that women's economic empowerment and education are central issues that must be addressed for women political participation being effective. This has implications for peace projects –their priorities, scales of implementation, etc.– and the allocation of civil society’s funds.

Keywords: ex-Yugoslavia, gender-based issues, peacebuilding, women activism

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Authors: Alexander Cho, Harsho Sanyal, Joseph Cataldo

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A quantitative analysis of the different variables on both the South and North green roofs of the Jacob K. Javits Convention Center was taken to find mathematical relationships between net radiation and evapotranspiration (ET), average outside temperature, and the lysimeter weight. Groups of datasets were analyzed, and the relationships were plotted on linear and semi-log graphs to find consistent relationships. Antecedent conditions for each rainstorm were also recorded and plotted against the volumetric water difference within the lysimeter. The first relation was the inverse parabolic relationship between the lysimeter weight and the net radiation and ET. The peaks and valleys of the lysimeter weight corresponded to valleys and peaks in the net radiation and ET respectively, with the 8/22/15 and 1/22/16 datasets showing this trend. The U-shaped and inverse U-shaped plots of the two variables coincided, indicating an inverse relationship between the two variables. Cross variable relationships were examined through graphs with lysimeter weight as the dependent variable on the y-axis. 10 out of 16 of the plots of lysimeter weight vs. outside temperature plots had R² values > 0.9. Antecedent conditions were also recorded for rainstorms, categorized by the amount of precipitation accumulating during the storm. Plotted against the change in the volumetric water weight difference within the lysimeter, a logarithmic regression was found with large R² values. The datasets were compared using the Mann Whitney U-test to see if the datasets were statistically different, using a significance level of 5%; all datasets compared showed a U test statistic value, proving the null hypothesis of the datasets being different from being true.

Keywords: green roof, green infrastructure, Javits Center, evapotranspiration, net radiation, lysimeter

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Authors: Bahieh Mohajeri, Mohamad Sharif Mustaf, Mahani Mokhtar

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Purpose: This paper attempts to set the stage for the exploration of female participation in administrative positions within non-western countries by reviewing the studies on female in administrative positions within non-western countries and suggesting guidelines for future studies in this area in developing countries. Methodology: The paper is based on a systematic review of papers that have been published in journals. Findings: The review focuses on constraints to female’s participation in higher education of developing countries (e.g. strong family responsibility, low levels of women faculty members, social values and gendered cultural factors). Practical Implications: Further guidelines for future examination of this field of study are suggested (e.g. adopting a different theoretical view).Value: The article is an initial attempt to gather knowledge about constraints of female administrators in higher education of developing countries. The subject has received less attention in studies on administration and gender. In addition, the article provides suggestions for future studies in order to understand women administrators’ experiences in different educational and cultural settings.

Keywords: administrative position, female administrator, developing countries, participation

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Authors: V. G. Cappellesso, D. M. G. da Silva, J. A. Arndt, N. dos Santos Petry, A. B. Masuero, D. C. C. Dal Molin

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Concrete elements are subject to cracking, which can be an access point for deleterious agents that can trigger pathological manifestations reducing the service life of these structures. Finding ways to minimize or eliminate the effects of this aggressive agents’ penetration, such as the sealing of these cracks, is a manner of contributing to the durability of these structures. The cementitious self-healing phenomenon can be classified in two different processes. The autogenous self-healing that can be defined as a natural process in which the sealing of this cracks occurs without the stimulation of external agents, meaning, without different materials being added to the mixture, while on the other hand, the autonomous seal-healing phenomenon depends on the insertion of a specific engineered material added to the cement matrix in order to promote its recovery. This work aims to evaluate the autogenous self-healing of concretes produced with different water/cement ratios and exposed to wet/dry cycles, considering two ages of crack openings, 3 days and 28 days. The self-healing phenomenon was evaluated using two techniques: crack healing measurement using ultrasonic waves and image analysis performed with an optical microscope. It is possible to observe that by both methods, it possible to observe the self-healing phenomenon of the cracks. For young ages of crack openings and lower water/cement ratios, the self-healing capacity is higher when compared to advanced ages of crack openings and higher water/cement ratios. Regardless of the crack opening age, these concretes were found to stabilize the self-healing processes after 80 days or 90 days.

Keywords: sealf-healing, autogenous, water/cement ratio, curing cycles, test methods

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Authors: Larisa Liamina, Vasily Lavrushin, Salvatore Inguaggiato

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This study presents and summarizes the results of researching the isotopic signature of helium in the deep fluid eastern part of the Southern slope of the Greater Caucasus and the Lesser Caucasus (Azerbaijan and Armenia) for the period from 2010 to 2016. The results of isotope ratios of 3He/4He in 59 samples of the gas phase of geothermal fluids and mud volcanoes are presented. New data have been obtained not only on the isotopic ratios of helium, but also neon and argon. The R/Ra ratio was analyzed along the Ankara-Sevan ophiolite structure. The patterns of lateral variations of the 3He/4He ratio of different geological structural elements of the studied region are revealed.

Keywords: isotopes helium, deep fluids, tectonic structures, Caucasus

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Authors: Amanda Aliende da Matta, Maria del Pilar Fogueiras Bertomeu, Valeria de Ormaechea Otalora, Maria Paz Sandin Esteban, Miriam Comet Donoso

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This communication presents proposed questions about the existential in research on the political participation of young women. The study follows a qualitative methodology, in particular, the applied hermeneutic phenomenological (AHP) method, and the general objective of the research is to give an account of the experience of political participation as a young woman. The study participants are women aged 18 to 35 who have experience in political participation. The techniques of data collection are the descriptive story and the phenomenological interview. Hermeneutic phenomenology as a research approach is based on phenomenological philosophy and applied hermeneutics. The ultimate objective of HP is to gain access to the meaning structures of lived experience by appropriating them, clarifying them, and reflectively making them explicit. Human experiences are always lived through existential: fundamental themes that are useful in exploring meaningful aspects of our life worlds. Everyone experiences the world through the existential of lived relationships, the lived body, lived space, lived time, and lived things. The phenomenological research, then, also tacitly asks about the existential. Existentials are universal themes useful for exploring significant aspects of our life world and of the particular phenomena under study. Four main existentials prove especially helpful as guides for reflection in the research process: relationship, body, space, and time. For example, in our case, we may ask ourselves how can the existentials of relationship, body, space, and time guide us in exploring the structures of meaning in the lived experience of political participation as a woman and a young person. The study is still not finished, as we are currently conducting phenomenological thematic analysis on the collected stories of lived experience. Yet, we have already identified some fragments of texts that show the existential in their experiences, which we will transcribe below. 1) Relationality - The experienced I-Other. It regards how relationships are experienced in our narratives about political participation as young women. One example would be: “As we had known each other for a long time, we understood each other with our eyes; we were all a little bit on the same page, thinking the same thing.” 2) Corporeality - The lived body. It regards how the lived body is experienced in activities of political participation as a young woman. One example would be: “My blood was boiling, but it was not the time to throw anything in their face, we had to look for solutions.”; “I had a lump in my throat and I wanted to cry.”. 3) Spatiality - The lived space. It regards how one experiences the lived space in political participation activities as a young woman. One example would be: “And the feeling I got when I saw [it] it's like watching everybody going into a mousetrap.” 4) Temporality - Lived time. It regards how one experiences the lived time in political participation activities as a young woman. One example would be: “Then, there were also meetings that went on forever…”

Keywords: applied hermeneutic phenomenology, existentials, hermeneutics, phenomenology, political participation

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Authors: J. G. Batista, L. J. de Bessa Neto, M. A. F. B. Lima, J. R. Leite, J. I. de Andrade Nunes

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The robot manipulator is an equipment that stands out for two reasons: Firstly because of its characteristics of movement and reprogramming, resembling the arm; secondly, by adding several areas of knowledge of science and engineering. The present work shows the development of the prototype of a robotic manipulator driven by a Programmable Logic Controller (PLC), having two degrees of freedom, which allows the movement and displacement of mechanical parts, tools, and objects in general of small size, through an electronic system. The aim is to study direct and inverse kinematics of the robotic manipulator to describe the translation and rotation between two adjacent links of the robot through the Denavit-Hartenberg parameters. Currently, due to the many resources that microcomputer systems offer us, robotics is going through a period of continuous growth that will allow, in a short time, the development of intelligent robots with the capacity to perform operations that require flexibility, speed and precision.

Keywords: Denavit-Hartenberg, direct and inverse kinematics, microcontrollers, robotic manipulator

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Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

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The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as Sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of Sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of Sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that Sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from Sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: sukuk, zero beta asset, asset allocation, sukuk market

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Authors: Kristine Joy Simpao

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Improving labour productivity is one of the most enthralling and challenging aspects of managing hotels and restaurant business. The demand to secure countless productivity became an increasingly pivotal role of managers to survive and sustain the business. Besides making business profitable, they are in the doom to make every resource to become productive and effective towards achieving company goal while maximizing the value of organization. This paper examines what productivity means to the services industry, in particular, to the hotel industry. This is underpinned by an investigation of the extent of practice of respondent hotels to the labour productivity aspect in the areas of materials management, human resource management and leadership management and in a way, computing the labour productivity ratios using the hotel simple ratios of productivity in order to find a suitable measurement and control standards for hotels with SBMA, Olongapo City as the locale of the study. The finding shows that hotels labour productivity ratings are not perfect with some practices that are far below particularly on strategic and operational decisions in improving performance and productivity of its human resources. It further proves of the no significant difference ratings among the respondent’s type in all areas which indicated that they are having similar perception of the weak implementation of some of the indicators in the labour productivity practices. Furthermore, the results in the computation of labour productivity efficiency ratios resulted relationship of employees versus labour productivity practices are inversely proportional. This study provides a potential measurement and control standards for the enhancement of hotels labour productivity. These standards should also contain labour productivity customized for standard hotels in Subic Bay Freeport Zone to assist hotel owners in increasing the labour productivity while meeting company goals and objectives effectively.

Keywords: labour productivity, hotel, measurement and control, standards, efficiency ratios, practices

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Authors: Suprehatin Suprehatin

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Improving the participation of smallholder farmers in horticultural value chains to benefit from the rapidly growing demand for high-value agricultural products is one strategy for raising farm income. However, smallholder farmer participation in Indonesian horticultural value chains is under-researched. To address this knowledge gap, this study aims to describe the current status of horticultural crop adoption in Indonesia and analyze the motivations and dynamics of smallholder farmer participation in horticultural value chains: why some small farmers join these new and potentially profitable chains and continue their participation. This study also examines the characteristics of farmers who adopted and those who did not adopt a new horticultural crop with respect to the household (farmer), farm and institutional characteristics. The analysis was conducted using unique data from a 2013 survey of 960 Indonesian farmers on Java Island that produce a variety of agricultural products. Basic statistical analysis showed relatively low adoption rates (10%) of new horticultural crops amongst 960 selected Indonesian farmers with different decisions made in terms of number and timing of new horticultural crop adoption. Adopters were motivated mainly by higher profit, higher yield, and more cash opportunities. The result also showed that current low rates of horticultural crop adoption are associated with a variety of factors, such as lower levels of education among farmers, resource constraints, lack of information on horticultural crop production and low participation in farmer groups. These findings will be helpful for policymakers when designing policies and programs to promote greater participation of Indonesian smallholder farmers in horticultural value chains. In other words, a revitalisation of agricultural policy beyond staple food is important to seize potential benefits from the ongoing agricultural food market transformation.

Keywords: farmer adoption, high value, horticultural crops, Indonesia

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Authors: Osifeko Olalekan Remigious, Osifeko Christiana Osikorede, Folarin Bolanle Eunice, Olugbenga Adebola Shodiya

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During these difficult economic times, nations are looking for ways to improve their finances, preserve the environment as well as the socio-political climate and educational institutions, which are needed to increase their economy and preserve their sustainable development. Sport is one of the ways through which sustainable development can be achieved. The purpose of this study was to examine and understanding barriers to participation in sport. A total of 1,025 students were purposively selected from five schools (School of Arts and Social Sciences, School of Languages, School of Education, School of Sciences and School of Vocational and Technical Education) in Michael Otedola College of Primary Education (MOCPED). A questionnaire, with a tested reliability coefficient of 0.71, was used for data collection. The collected data were subjected to the descriptive survey research design. The findings showed that sports facilities, funding and lecture schedules were significant barriers to sports participation. It was recommended that sports facilities be provided by the Lagos State government.

Keywords: sports, sustainable development, Participation, State government, barriers

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Jean Paul Hategekimana, Bampire Claudine, Niyonsenga Nadia, Irakoze Josiane

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Peas, soybeans and rice are crops which are grown in Rwanda and are available in rural and urban local markets and they give contribution in reduction of health problems especially in fighting malnutrition and food insecurity in Rwanda. Several research activities have been conducted on how cereals flour can be mixed with legumes flour for developing baked products which are rich in protein, fiber, minerals as they are found in legumes. However, such activity was not yet well studied in Rwanda. The aim of the present study was to develop bread and biscuit products from peas, soybeans and rice as functional ingredients combined with wheat flour and then analyze the nutritional content and consumer acceptability of new developed products. The malnutrition problem can be reduced by producing bread and biscuits which are rich in protein and are very accessible for every individual. The processing of bread and biscuit were made by taking peas flour, soybeans flour and rice flour mixed with wheat flour and other ingredients then a dough was made followed by baking. For bread, two kind of products were processed, for each product one control and three experimental samples in different three ratios of peas and rice were prepared. These ratios were 95:5, 90:10 and 80:20 for bread from peas and 85:5:10, 80:10:10 and 70:10:20 for bread from peas and rice. For biscuit, two kind of products were also processed, for each product one control sample and three experimental samples in three different ratios were prepared. These ratios are 90:5:5,80:10:10 and 70:10:20 for biscuit from peas and rice and 90:5:5,80:10:10 and 70:10:20 for biscuit from soybean and rice. All samples including the control sample were analyzed for the consumer acceptability (sensory attributes) and nutritional composition. For sensory analysis, bread from of peas and rice flour with wheat flour at ratio 85:5:10 and bread from peas only as functional ingredient with wheat flour at ratio 95:5 and biscuits made from a of soybeans and rice at a ratio 90:5:5 and biscuit made from peas and rice at ratio 90:5:5 were most acceptable compared to control sample and other samples in different ratio. The moisture, protein, fat, fiber and minerals (Sodium and iron.) content were analyzed where bread from peas in all ratios was found to be rich in protein and fiber compare to control sample and biscuit from soybean and rice in all ratios was found to be rich in protein and fiber compare to control sample.

Keywords: bakery products, peas and rice flour, wheat flour, sensory evaluation, proximate composition

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Authors: Kiri Trier, Theresa Treffers

Abstract:

In the course of continuous volatility like production stops due to the COVID-19 pandemic, video-on-demand player monopolizing the film industry, filmmakers are stuck in traditional, linear content development processes. The industry has to become more agile in order to react quickly and easily to changes. Since content development in agile project management is scientifically–empirically not at all recorded, and a lack beyond the software development in terms of agile methods consists, we examined if the agile manifesto values and principles from the software development can be adapted to the film industry to enable agility and digitalization of content development in the industry. We conducted an online questionnaire with 184 German filmmakers (producers, authors, directors, actors, film financiers) for a first cross-sectional assessment for adaptability of the agile manifesto from the software development to the film industry, factor analysis was used to validate the construct. Our results show that it is crucial to digitalize traditional content development to agile content development end-to-end, with tools, lean processes, new collaboration structures, and holacracy to prepare for any volatility. Overall, we examined the first construct for an agile manifesto for the film industry with four values related to nine own principles. Our findings help to get a better understanding of the agile manifesto beyond the software development as a guideline for implementing agility in the film industry.

Keywords: agile manifesto, agile project management, agility, film industry

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Authors: Madhura Yadav

Abstract:

Urban redevelopment planning initiatives in developing countries have been largely criticised due to top-down planning approach and lack of involvement of the targeted beneficiaries which have led to a challenging situation which is contrary to the perceived needs of beneficiaries. Urban renewal projects improve the lives of people and meaningful participation of community plays a pivotal role. Public perceptions on satisfaction and participation have been given less priority in the investigation, which hinders effective planning and implementation of urban renewal projects. Moreover, challenges of community participation in urban renewal projects are less documented, particularly in relation to public participation and satisfaction. There is a need for new paradigm shift focusing on community participatory approach in urban renewal projects. The over 125-year-old Bhendi Bazar in Mumbai, India is the country’s first ever cluster redevelopment project, popularly known as Bhendi Bazaar redevelopment and it will be one of the largest projects for urban rejuvenation of one of Mumbai’s oldest and dying inner city areas. The project is led by the community trust, inputs were taken from various stakeholders, including residents, commercial tenants and expert consultants to shape the master plan and design of the project. The project started in 2016 but there is a significant delay in implementing the project. The study aimed at studying and assessing public perceptions on satisfaction and the relationship between community participation and community satisfaction in Bhendi Bazaar of Mumbai, India. Furthermore, the study will outline the challenges and problems of community participation in urban renewal projects and it suggests recommendations for the future. The qualitative and quantitative methods such as reconnaissance survey, key informant interviews, focus group discussions, walking interviews, a narrative inquiry is used for analysis of data. Preliminary findings revealed that all tenants are satisfied for the redevelopment of an area but the willingness of residential tenants to move in transit accommodation has made the projects successful and reductant of some residential and commercial tenants, regulatory provisions rising to face challenges in implementation. Experiences from the case study can help to understand dynamics behind public participation and government. At the same time, they serve as an inspiration and learning opportunity for future projects to ensure that they are sustainable not only from an economic standpoint but also, a social perspective.

Keywords: urban renewal, Bhendi Bazaar, community participation, satisfaction, social perspective

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Authors: Akhila Vasudev, Himanshu Kaushik, Tadikonda Venkata Bharat

Abstract:

A large number of mine tailings are produced every year as part of the extraction process of phosphates, gold, copper, and other materials. Mine tailings are high in water content and have very slow dewatering behavior. The efficient design of tailings dam and economical disposal of these slurries requires the knowledge of tailings consolidation behavior. The large-strain consolidation theory closely predicts the self-weight consolidation of these slurries as the theory considers the conservation of mass and momentum conservation and considers the hydraulic conductivity as a function of void ratio. Classical laboratory techniques, such as settling column test, seepage consolidation test, etc., are expensive and time-consuming for the estimation of hydraulic conductivity variation with void ratio. Inverse estimation of the constitutive relationships from the measured settlement versus time curves is explored. In this work, inverse analysis based on metaheuristics techniques will be explored for predicting the hydraulic conductivity parameters for mine tailings from the base excess pore water pressure dissipation curve and the initial conditions of the mine tailings. The proposed inverse model uses particle swarm optimization (PSO) algorithm, which is based on the social behavior of animals searching for food sources. The finite-difference numerical solution of the forward analytical model is integrated with the PSO algorithm to solve the inverse problem. The method is tested on synthetic data of base excess pore pressure dissipation curves generated using the finite difference method. The effectiveness of the method is verified using base excess pore pressure dissipation curve obtained from a settling column experiment and further ensured through comparison with available predicted hydraulic conductivity parameters.

Keywords: base excess pore pressure, hydraulic conductivity, large strain consolidation, mine tailings

Procedia PDF Downloads 115